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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release February 23, 1956 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 22 increased $$6 million to $10,749 million. Estimated required reserves increased $44 million; and estimated excess reserves increased $12 million to $555 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $87 million, compared with $450 million the week before. The principal changes supplying reserves were an unusually large increase of $501 million in Federal Reserve float and an increase of $40 million in Federal Reserve holdings of U. S. Government securities, and decreases of $37 million in money in circulation, $34 million in "other" deposits with Federal Reserve Banks, and $15 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $351 million in member bank borrowings, and increases of $129 million in Treasury deposits with Federal Reserve Banks and $94 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $186 million. As of bought outright securities held bank borrowings Wednesday, February 22, holdings of U. S. Government securities were $7 million lower than a week earlier, U. S. Government under repurchase agreement were $28 million higher, and member were $343 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 Loans, discounts, and advances — Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Weekly averages of daily figures Change from week ending Week ending Feb. 22, 1956 Feb. 15, 1956 Feb. 23, 1955 (]En millions of dollars) 23,333 56 16 - l6 + 56 622 1 1,333 25,360 21,694 5,011 52,065 -351 - 3 +501 +106 + 1 +188 +349 -122 +529 +428 - 22 + 21 +428 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) 30,210 794 557 362 366 1,026 33,316 - 37 - 6 +129 - 15 - 34 + 94 +131 +439 - 31 + 67 — 28 -120 + 67 +395 Member bank reservesRequired reserves (estimated) Excess reserves (estimated) 18,749 18,214 535 + 56 + 44 + 12 + 33 +106 - 73 mm mm — — -399 + 56 + 16 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 21,695 Treasury cash holdings 795 Treasury currency outstanding 5 012 Member bank) - Required (est.) ]_Q 154 Money in circulation 30*206 reserves ) - Excess (est.) '235 On February 22, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,770 million, a decrease of $5 million for the week and an increase of $804 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 Feb. 23, Feb. 15, 1956 1955 Feb. 22, 1956 A S S E T S Gold certificates 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 U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,156,352 854,772 21,011,124 333,814 441,355 634,316 655 14,984 450,200 5,920,699 14,165,913 2,801,750 23,338,562 27,900 23,366,462 24,016,417 22 5,071,575 62,912 117,836 51,055,055 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS - 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 26,079,985 18,389,171 560,935 364,983 674,733 19,989,022 3,779,216 14,252 49,863,275 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 308,091 693,612 27,543 162,534 51,055,055 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 17,750 2,995 20,745 + 137,517 + 1,607 + 242,778 + 225 14,984 + • - + - - - 6,093 7,062 352,501 19 500 7,000 -- - - + + - 7,000 27,900 20,900 560,444 -4,039,442 +4,206,442 - + - 332,120 107,557 • - — — w • + — - 172,220 40 7,633 495,770 29,016 415,706 120,522 14,262 + 356,048 46,602 + . 520,077 161 + 502,330 • + 449 + - 393,444 27,900 365,544 w +1,200,625 + 7,412 7,500 +1,211,359 + 498,117 90,287 7,072 36,004 242,985 195,774 452,017 1,639 +1,144,269 + + + + + + + 14,889 32,711 + 19,490 - - + , 6,103 + + 2,319 19 45.6# 32,813 2,496 6,912 834 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 22, 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 628,684 5,632 634,316 Industrial loans 15 550 90 "555 Acceptances U, S. Government securities 14,904 5,308,400 13,860,764 1,587,127 1,013,614 1,414,857 %j,j66,46z 57971i 10,010 181,700 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 22, 1956 H.4.1(b) Total Boston New York Phila- I Cleve- Richmond Atlanta Chicago delphia | land St. Louis | Minne1 apolis Kansas City Dallas San Francisco A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves 20,156,352 998,183 5,157,245 1141,428 1831,713 1264,941 924,277 3587,215 875,535 854,772 52,805 178,011 60,484 77,109 68,367 53,134 153,989 44,199 320,270 850,009 713,398 2492,138 23,614 41,488 26,704 74,868 21,011,124 1050,988 5,335,256 1201,912 1908,822 1333,308 977,411 3741,204 919,734 343,884 891,497 740,102 2567,006 F,R. notes of other Banks Other cash 333,814 441,355 12,892 30,529 80,081 103,077 22,978 26,209 13,993 32,804 31,585 24,823 74,924 32,765 21,038 69,822 10,542 23,215 6,749 5,564 16,497 20,635 18,888 32,833 53,908 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 634,316 655 24,370 106,060 26,930 598 47,286 48,540 23,325 184,545 12,850 38,300 57 48,010 44,400 29,700 14,984 14,984 450,200 5,920,699 14,165,913 2,801,750 23,338,562 114,4l6 24,862 326,965 1,504,716 782,298 3,600,196 712,051 154,724 1288:849 5,931,379 27,900 27,900 ww 27,400 360,345 862,166 170,520 1420,431 ww «»W - - 26,523 23,238 78,526 38,691 508,843 348,812 305,615 1032,730 1217,461 834,571 731,216 2470,918 240,791 165,062 144,621 488,701 2005,796 1374,96b 1204,690 4070,075 mm w w WW WW WW 8,818 WW -- WW WW 49,319 18,683 10,909 19,580 18,053 245,697 143,476 257,491 237,408 648,601 587,857 343,283 616,075 568,025 1551,847 116,267 67,895 121,848 112,344 306,926 968,504 565,563 1014,994 935,830 2556,693 WW — — w — WW WW Total U. S. Govt, sees. 23,366,462 1288,849 5,959,279 1420,431 2005,786 1374,968 1204,690 4070,875 968,504 565,563 1014,994 935,830 2556,693 Total loans & securities 24,016,417 1313,219 6,080,323 1447,959 2053,072 1423,508 1228,015 4255,420 981,354 603,920 1063,004 980,230 2586,393 Due from foreign hanks Uncollected cash items Bank premises Other assets TOTAL ASSETS 2 1 1 1 1 1 1 2 2 3 497,106 285,912 245,988 140,389 203,023 484,123 770,810 916,206 314,657 451,295 387,773 10,342 2,316 3,632 2,827 4,029 5,601 6,055 3,399 5,027 6,136 7,969 6,244 12,831 4,608 6,808 21,710 2,757 6,925 6,781 10,061 .... tow 28,034 51,055,055 2793,665 12,550,952 3025,525 4476,185 3213,407 2808,193 8886,062 2145,876 1109,345 2231,096 2054,328 5760,421 1 22 5,071,575 374,293 62,912 5,579 6.164 117,836 1/ 6 l/ After deducting $16,000 participations of other Federal Reserve Banks STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 22, 1956 (in thousands of dollars) - Total Boston New York j Richmond Atlanta Chicago L ^ s | Spoils City | D a l l a B |Francisco LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen. acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 26,079,985 1555,331 5,950,383 1776,862 2425,773 1961,655 1322,801 5061,011 1205,687 515,315 1026,222 683,352 2595,593 18,389,171 762,573 5,176,424 859,784 1476,101 802,951 916,621 3020,883 676,883 401,696 869,408 943,501 2482,346 93,293 33,854 51,983 41,183 59,350 58,364 32,473 20,499 40,456 43,300 50,864 560,935 35,316 21,299 1/107,204 25,992 32,851 18,411 15,884 50,5%) 13,718 9,025 13,718 l&,4ll 37,930 364,983 894 1.929 134.838 475 27.930 35.354 47,350 101,965 84,622 1I008 " 226.419 9.929 674,733 822,196 5,603,360 929,559 1561,829 864,474 1126,693 3130,262 751,004 466,574 970,932 1107,177 2655,762 19,989,822 3,779,216 344,086 Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. F. R. notes outstanding Collat. for F. R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 308,091 693,612 27,543 162,534 £8 &£? 2® &S2 ii:Si ilfi 9,^ JI'M #£ AS £$ &SS SS 51.055,055 279^.665 12.550.952 3025,525 4476.185 3213.407 2808,193 8886.062 2145,876 1109,345 2231,096 2054,328 5760,.421, 32,813 2,496 1,882 L 2/10,036 - 2,297 85 2,903 272 1,627 11 1,404 - 4,466 - 1,212 - 797 - 1,212 2,128 1,627 - . 3,350 27,275,718 1636,296 6,237,715 1874,075 2545,691 2041,110 1399,050 5187,523 1270,434 572,576 1055,029 730,113 2726,106 11,713,000 640,000 2>67C,ooo 725,000 1070,000 845,000 500,0002400,000 450,000 150,000 280,000 283,000 1500,000 26,930 12,850 38,300 48,010 -150,460 24•370 1200.000 3,600,000 1200,000 1550.OOO 1250,000 1000,000 2900.000 900.000 500.000 800,000—52^,000 1500/00° 16,925,000 28,788,460 1864,370 6,470,000 1951.930 2620.000 2095,000 1500,000 5300,000 1362.850 688,300 1128,010 808,000 3000,000 1/ After deducting $257,754,000 participations of other Federal Reserve Banks. $22,777,000 participations of other Federal Reserve Banks. 2/ After deducting 95,834 185,782 203,505 383,957 704 4.155 722 1,472 629 715 2,305 484 494 548 755 1*269 14,252 49,863,275 2722,317 12,219,724 2940,225 4368,427 3150,459 2753,572 8716,607 2098,873 1078,217 2183,484 1994,789 5636,581 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 661,826 233,082 379,353 323,701 303,363 523,029 141,698
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