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BOAfii) OS1 GOVERNORS OF THE FBtffiRAL RESERVE SYSTEM H.4.1 For Immediate Release December 27, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending December 26.increased $255 million to $19,79& million. Estimated required reserves increased $170 million; and estimated excetis reserves increased $85 million to $663 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $22 million, compared with $51 million the week before. The principal changes supplying average reserves were increases of $373 million in Federal Reserve float, $121 million in Federal Reserve holdings of U. S. Government securities, $114 million in member bank borrowingsj and $22 million in gold stock. The principal offsetting changes were increases of $157 million in money in circulation, $137 million in Treasury deposits with Federal Reserve Bahks. and $89 million in "other" deposits with Federal Reserve Banks. Total Reserve bank credit increased $619 million. As of bought outright securities held borrowings were Wednesday, December 26, holdings of U. S. Government securities were $42 million higher than a week earlier, U. S. Government under repurchase agreement were $10 million lower, and member bank $121 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright^-System account Held under repurchase agreement Acceptances-^ Bought outright Held under repurchase agreement Loans, discounts, and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Change from week ending For week ending Dec. 26, 1956 Dec. 19. 19561 Dec. 28, 1955 (In millions of dollars) 24,574 332 + 85 + 36 +189 - 50 33 27 + 1 + 13 + 13 + 22 641 27 2,208 27,842 21,949 5,066 5CS56 +114 - 2 +373 ^19 + 22 + 2 -112 + 26 +333 +522 +259 + 58 +738 Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R« Banks Other F. R. account (net) 31,992 765 635 393 258 1,024 35,066 +157 - 11 +137 + 4 + 89 + 13 +3B8 +577 - 9 +112 -104 -152 + 12 +435 Member bank reserves—» Required reserves (estimated) Excess reserves (estimated) 19,790 19,127 663 +252 +170 + 85 +303 +323 - 20 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,949 Treasury cash holdings 766 Treasury currency outstanding 5,066 Member bank) - Required (est.) 19,056 84 Money in circulation 32,018 reserves ) - Excess (est.) On December 26, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,946 million, an increase of $263 million for the week and an increase of $298 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 28, Dec. 19* 1956 1955 Dec. 26, 1956 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 1,721,270 + 10,932,699 9,153,913 2,801,750 24,609,632 + 330,600 24,940,232 + Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 25,652,723 22 4,879,847 73,641 243,897 52,677,094 20,394,392 + 874,952 + 21,269,344 + 280,511 277,109 649,724 805 - 27,999 441 28,440 11,469 10,300 122,702 11 33,043 + 28,919 + - + + 258,039 7,111 265,150 346 16,591 140,351 93 1,279 + 6,807 + 11,166 22,363 - 41,500 + 218,574 — +5,012,000 -5,012,000 -«• -— 41,500 + 10,000 31,500 + 218,574 85,300 133,274 83,127 + 307,247 •» «• — W -1,528,500 + 242 + + 10,615 + -1,594,099 + LIABILITIES Federal Reserve notes ~~ Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 19,140,164 - 695,511 532,728 - 236,895 381,531 23,816 321,470 + 154,438 20,375,893 - 801,784 3,361,986 - 899,193 30,679 + 1,282 51,364,894 -1,605,039 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 325,121 + 272 — — 693,612 — — 27,543 265,924 + 10,668 52,677,094 -1,594,099 27,596,336 + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + + + + 94,656 + 44.3$ + 49,750 2.*6l + dUf 225,525 12,434 87,848 430,909 581,550 + + 250,267 11,111 86,195 103,798 71,385 336,529 6,989 323,395 + + 22,760 32,711 + + 52,043 430,909 + + - + - •* •» - 1,475 + 1 - .1# 16,263 133 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 26, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and Industrial advances loans 623,414 - W 1,236 4 25,074 463 270 649,724 S05 Acceptances 35,665 26,297 61,962 U. S. Government securities 624,650 6,439,220 15,074,612 373,279 1,013,614 -LWUSI 24,940,232 2.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M ON DECEMBER 26. 1956 Phila- CleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Total ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F.R. notes of other Banks Other cash 20,394,392 991,789 874,952 57,026 21,269,344 1048,815 280,511 5,149,334 1108,112 1906,657 1348,225 178,738 63,054 5,328,072 1171,166 1984,526 1419,365 Kansas City Dallas San Francisco 891,189 3779,718 831,279 306,836 787,530 677,435 2616,288 51,173 161,000 43,812 22,952 4l,6l4 26,197 80,377 942,362 3940,718 875,091 329,788 829,144 71,140 77,869 Minneapolis 703,632 2696,665 24,013 13,698 12,713 19,255 18,795 16,701 45,692 22,138 26,560 43,082 10,562 21,827 10,423 8,527 9,659 11,552 25,796 14,171 25,767 32,221 Discounts and advances 649,724 24,215 187,335 28,725 Industrial loans 805 312 451 Acceptances: Bought outright 33,043 33,043 Held under rep. agree. 28,919 28,919 U. S. Govt, securities: Bought outright— Bills 1,721,270 94,611 433,205 103,432 Certificates 10,932,699 600,927 2,751,520 656,957 Notes 9,153,913 503,154 2,303,839 550,068 Bonds 2,801.750 154,001 705,139 168,360 Total 24,609,632 1352,693 6,193,703 1478,817 Held under rep. agree. 330.600 330.600 " 95,395 27,040 36,292 127,204 33,010 14,180 42 34,828 15,775 25,725 2128,561 —— Total U. S. Govt, sees. 2128,561 1515,191 277,109 15,733 17,973 24,940.232 11352,693 Total loans & securities 25,652,723 1377,220 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL .ASSETS 22 54,798 55,964 6,524,303 1478,817 —~ —— — — 978,085 2753.842 6,773,600 1507,993 2223,956 1542,231 1301,695 4420,896 1060,462 570,080 1101,163 993,860 2779,567 1 126,230 4,953 5,492 1 212,321 3,917 10,337 52,677,094 2828,345 13,231,256 2 316,988 4,782 14,307 2 442,007 7,668 , 21,135 1 1 7,331 4,687 12,919 458,608 382,716 14,801 3052,949 4711,262 3477,833 1/ After deducting $16,000 participations of other Federal Reserve Banks. —— 68,410 192,612 434,509 1223,380 363,813 1024,332 111.351 111.518 978,085 2753,842 555,858 1066,335 5,361 12,992 1 350,250 105,978 88,507 300,313 71,863 38,879 74,582 673,115 562,148 1907,450 456,440 246,937 473,714 563,597 470,685 1597,102 382,176 206,759 396,639 172.501 144.063 488.827 116,973 63,283 121.400 1515,191 1265,403 4293,692 1027,452 555,858 1066,335 1265,403 4293,692 1027.452 1/ 6 949,286 9,389 6o,l4l 4,879,847 73,641 243,897 148,878 945,602 791,749 242.332 3 786,407 5,877 44,215 2712,210 9267,758 1 192,917 4,463 9,951 1 233,406 4,346 10,362 2 428,711 10,867 27,245 2175,274 1055,494 2199,633 1964,035 6001,045 B.4.1(c) Total " " L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen. acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,596,336 1638,543 6,416,535 19,140,164 780,751 532,728 45,292 21,653 381,531 6,513 321,470 20,375,893 854,209 5,514,041 85,033 1/119,468 201,279 920,714 1590,784 41,467 45,068 26,424 33,397 11,091 2,626 257,487 524,213 3,361,986 Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. F. R. notes outstanding Collat. for. F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 5,919,821 1.261 9,305 30,679 2751;500"l2^97B74 51,364;894 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS S1!A')YwEb'£ OF COf'DiflON OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1956 Phila- CleveSt. MinneRichmond Atlanta Chicago Boston New York delphia land Louis apolis (In thousands of dollars) 325,121 693,612 27,543 265,924 16,635 41,667 3,011 15,512 93,984 195,827 7,319 64,252 52,677,094 2828,345 13,231,256 1772,071 2608,590 2195,901 1380,220 5292,403 1217,651 729,498 849,896 24,407 13,946 9,175 13,946 16,148 51,380 187,874 310,784 382,797 275,437 1,391 2,818 1,359 1,214 6,343 994 2124™311 20,629 49,491 4,489 17,308 31,046 62,563 1,006 22,580 14,757 15,478 44,327 11,048 27,649 521 6,300 9997^96"1671,875" 828,081 994,250 1,760 35,012 3,349 16,577 3052,949 4711,262 3477,833 520,584 132,642 30,841 101,894 762 1,429 14,008 43,024 2712,210 7,342 3257,754 ' 773,024 2961,032 $594,c5f 34o57l38~2S51,121 9077,084 11,745 11,918,00C 92,863 17,285,00C 29,295,865 2,938 2/14,193 580,000 3,170,000 1,341 424,309 18,717 38,560 3,738 40,469 1,454 889",703"1012,643 2750,528 96,852 179,644 153,644 340,028 1^027 1,011 1,325 2,631 7,178 17,586 13,016 25,960 18,012 33,84? 39,011 71,275 2,l4o 29,464 1022,530 2147,151 1W7931 5%59Tl55 1,073 7,127 1,137 12,369 1,307 11,938 9267,758 2175,274 1055,494 2199,633 1964,035 6001,045 1,892 6,972 2,540 2,191 4,532 3,586 101 121 19 2,*61 FEDERAL RESERVE AGENTS' ACCOUNTS 28,533,455 1*582,9l4™"57650,75T~T859,975 "265V56*l 2 2 S ^ , 4 7 B n m 2 7 7 S 7 5 3 9 5 , 5 9 4 " i 2 7 0 , 5 5 d 49,75Q 952,906 2606,354 37,282 65,145 24,030 18,717 37,557 San Francisco 731,319 2765,968 389,763 22,310 Dallas 500,342 1076,793 729,426 68,763 1,245 1,892 2,540 5,229 -1x930 a.i'A? ' «^7T 552,951 no«,3^4 7 7 1 , 5 2 7 2 0 9 1 , 0 9 7 660,000 1130,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 26,925 ----32,060 -33,878 1200,000 3,600,000 1200,000 1550,000 1350,000 1000,000 3200,000 900,000_ 460,000 800,000 525,000 1500,000 1780%000 6,7707000 1886,925 2580,000 22957000 1450,000 5500,000 1382,060 610,000 1133,878 808,000 3000,000 l/ After deducting $262,038,000 participations of other Federal Reserve Banks. 2/ After deducting $35,557,000 participations of other Federal Reserve Banks. 940,180 3135,851 31,622 42,309 Kansas City
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