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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release February 16, 1 9 5 6 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending February 15 decreased $80 million to $18,693 million. Estimated required reserves decreased $107 million; and estimated excess reserves increased $27 million to $500 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $473 million, compared with $349 million the week before. The principal changes reducing reserves were a decrease of $74 million in Federal Reserve holdings of U. S. Government securities, and increases of $ 6 9 million in "other" deposits with Federal Reserve Banks, $28 million in money in circulation, $22 million in Treasury deposits with Federal Reserve Banks, and $12 million in foreign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $151 million in member bank borrowings. Total Reserve Bank credit increased $70 million. As of Wednesday, February 1 5 , holdings of U. S. Government securities bought outright were $99 million lower than a week earlier and member bank borrowings were $ 1 5 0 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought 0utright--System account Held under repurchase agreement Acceptances--bought outright Loans, discounts, and advancee-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding 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. accounts (net) Member bank reserves-Required reserves (estimated) Excess reserves (estimated) Weekly averages of daily figures Week ending Change from week ending Feb. 15, 1956 Feb. 8,'1956 Feb. 16, 1955 (]En millions of dollars) 23,349 - lb «•» 16 - 2 973 4 +151 + 3 832 25,174 21,694 5,010 51,377 30,247 800 428 377 400 - 8 + 70 + 1 — a» + 70 + 28 + 4 + 22 + 12 + 69 932 33,185 + 15 +151 18,693 - 80 -107 + 27 iS~l93 500 -478 - 81 + 16 +706 -116 +l64 +210 - 21 + 21 +209 +465 - 24 + 29 -109 - 58 + 19 +322 -113 - b3 - 70 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 21,694 Treasury cash holdings 804 Treasury currency outstanding 5,010 Member bank) - Required (est.) 1 8 , 2 0 7 Money in circulation 30,224 reserves ) - Excess (est.) 598 On February 15, 1956, U. S. Government securities held in custody by the Federal Reserve B«nks for foreign account were $3,775 million, an increase of $37 million for the week and an increase of $797 million from the comparable date a year ago. H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves r F. R. notes of other Banks *~ Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Feb. 15, Change since Feb. Feb. 8, .1251 20,156,352 1 1,786 1,707 . MiTTf. 21,011,124 339,907 434,293 986,817 674 15,484 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 20,642 10,109 160,155 30 994 • - + + + + 16, 17,750 6,165 23,915 124,875 20,800 451,603 157 15,484 457,200 5,920,699 14,165,913 2,801,750 23,345,562 98,500 - 553,444 -4,039,442 +4,206,442 96,500 - 306,444 23.345^562 98,500 - 306,444 60,691 + 80,800 5,243,795 62,952 110,203 +1,308,188 + 928 + + - 101,148 +1.2&.1S1 + 493,174 7,406 9,233 652,307 26,109,001 12,788 + 535,437 18,804,877 440,413 379,245 130,301 134,965 10,037 3,619 + + + 98,162 54,212 48,355 99,918 300'647 351,571 44 506,405 + + 15»525 32,711 24,348,537 22 L I A B I L I T I E S 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 318,685 19,9k3,26o 4,299,293 50,365,605 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 307,642 693,612 27,543 156,431 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + + 270,922 + 961,009 238 + +1,227,301 1,567 t +1.236.121 +_ 17,666 + 652,307 45.6# • 3# 30,494 2,477 1,353 40 5, 768 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 15, 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 advances 981,491 5,326 986,817 Industrial loans Acceptances ' 6,650 15 567 92 8,834 674 15,404 U. S, Government securities 146,000 5,323,200 13,860,764 1,587,127 1,013,614 1,414,857 23,343,562— STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 15, 1956 (in thousands of dollars) St. ClevePhilaRichmond Atlanta Chicago New York delphia Boston Louis land H.4.1(b) Total Minneapolis Kansas City ~ , San Dallas 1Francisco A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves 20,156,352 918,006 5,150,872 1187,075 1785,441 1245,646 878,409 3601,349 888,163 339,198 861,518 683,975 2616,700 854,772 52,805 178.011 60,484 77,109 68,367 53,134 153,989 44,199 23.614 41,488 26,704 74,868 21,011,124 970,811 5,328,883 1247,559 1862,550 1314,013 931,543 3755,338 932,362 362,812 903,006 710,679 2691,568 F.R. notes of other Banks Other cash 339,907 15,049 434,293 31,840 67,075 99,273 21,050 27,037 15,118 32,093 37,917 25,118 68,102 33,828 22,192 71,349 11,154 21,436 6,130 9,421 8,085 15,313 16,273 15,137 31,762 52,448 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 986,817 32,565 315,190 37,730 617 50,896 26,160 24,615 365,515 26,530 22,879 57 39,727 23,260 21,750 674 — - - —— -- " -** 15,484 15,484 457,20d 25,248 116,195 27,827 39,293 26,935 5,920,699 326,965 1,504,716 360,345 508,843 348,812 14,165,913 782,298 3,600,196 862,166 1217,461 834,571 712,051 170,520 240,791 165,062 2,801,750 154,724 23^3^5i562|l289i235 5,933,150 1420,658 2006,388 1375,380 23,599 305,615 731,216 144,621 1205,051 79,747 1032,730 2470,918 488,701 4072,096 50,086 18,973 11,079 19,885 18,333 245,697 143,476 257,491 237,408 648,601 587,857 343,283 616,075 568,025 1551,847 116,267 67,895 121,848 112,344 306,926 968,794 565,733 1015,299 936,110 2557,460 Total U. S. Govt, sees. 23,345,5621289,235 5,933,158 1420,858 2006,388 1375,380 1205,051 4072,096 968,794 565,733 1015,299 936,110 2557,460 Total loans & securities 24,348,537021,800 6,263,832 1459,205 2057,284 1401,540 1229,666 4437,611 995,324 588,669 1055,026 959,370 2579,210 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 1 1/6 2 1 1 3 1 1 1 1 2 5,243,795 363,844 1,068,455 312,479 520,183 389,550 384,374 904,140 211,970 123,946 255,220 223,279 486,355 5,601 4,030 6,055 3,399 2,827 3,632 2,316 10,342 7,969 5,027 6,144 62,952 5,610 6,403 6,496 20,459 4.308 2.559 4,562 5,918 11,946 5,761 26,180 6.309 9,302 110,203 51,550,833(2714,716 12,881,673 3078,668 4502,676 3180,143 2658,040 9217,147 2179,954 1096,365 2244,845 1932,973 5863,633 Xf After deducting $16,000 participations of other Federal Reserve Banks 2 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 15, 1956 E.4.1(c) Total Boston 26,109,001 1553,162 18,804,877 440,413 379,245 318,685 19,943,220 716,414 4,299,293 324,444 New York ^and* Richm °nd Atlanta Chlca S° Louis S ^ty* Dallas FranSsco 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 CAPITAL 14,091 50,365,605 23,254 21,889 3,728 5,944,327 1775,904 2427,154 5,316,254 54,087 1/114,326 239,621 862,143 33,408 26,712 9,756 1506,527 32,484 33,761 1,112 1966,948 1334,090 772,795 32,396 18,921 2,498 5057,123 1210,269 917,055 3130,237 23,822 83,768 16,324 51,940 1,453 951 704,035 22,704 14,098 10,771 516,994 1030,370 687,535 2605,125 415,071 938,121 42,815 18,921 1,110 2600,880 16,782 9,275 742 925,345 35,859 14,098 2,890 765,285 5,724,288 932,019 1573,884 826,610 958,654 3266,896 751,608 441,870 978,192 1000,967 879,332 285,024 393,030 323,440 310,327 39,034 38,980 44,053 2722,947 722,434 170,863 106,144 188,503 184,512 411,240 703 4,332 785 1,382 587 638 2,479 438 398 512 645 1,192 2643,594 12,552,279 2993,732 4395,450 3117,585 2603,709 9048,932 2133,178 1065,406 2197,577 1873,659 5740,504 ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab, on acceptances purchased for foreign correspondents Industrial loan commit. F. R. notes outstanding Collat. for F. R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 307,642 693,612 16,258 41,667 90,512 27,543 156,431 10,186 3,011 195,827 7,319 51,550,833 2714,716 12,881,673 30,494 2,477 1,788 -- 2/8,860 -- 27,320,344 1643,882 11,713,000 640,000 31,975 157,111 17,025,000 1200,000 28,895,111 1871,975 35,736 19,985 49,491 4,489 10,971 29,697 62,563 23,362 3078,668 4502,676 3180,143 2658,040 9217,147 13,960 3,349 10,175 2,757 272 1,545 11 1,333 -- 1,429 4,242 — 10,749 27,649 521 7,857 6,959 1,151 -- 12,488 17,586 25,960 5,341 7,683 1,073 2179,954 1096,365 FEDERAL RESERVE AGENTS' ACCOUNTS 6,232,575 1875,026 2551,504 2042,869 1400,751 5196,415 1272,955 758 — 573,398 1,137 16,913 33,847 1,307 7,247 34,539 71,275 2,l4o 15,175 2244,845 1932,973 5863,633 1,151 2,128 1056,689 1,545 -- 3,182 732,820 2741,460 2,870,000 725,000 1070,000 845,000 500,000 2400,000 450,000 150,000 280,000 283,000 1500,000 -37,010 ---— 26,150 22,629 39,347 3,600,000 1200,000 1550,000 1250,000 1000,000 3000,000 900,000 500,000 800,000 525,000 1500,000 6,470,000 1962,010 2620.000 2095,000 1500,000 5400,000 1376,150 l/ After deducting $264,894,000 participations of other Federal Reserve Banks. 2/ After deducting $21,634,000 participations of other Federal Reserve Banks, 13,990 41,530 30,841 101,894 762 8,738 2,182 66 1,006 14,022 35,012 672,629 1119,347 808,000 3000,000
@FedFRASER