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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release J a n u a r y 26, 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 r e s e r v e s f o r t h e week ending January 25 d e c r e a s e d $119 m i l l i o n t o $19,017 m i l l i o n . Estimated r e q u i r e d r e s e r v e s d e c r e a s e d $1*3 m i l l i o n ; and e s t i m a t e d e x c e s s r e s e r v e s d e c r e a s e d $76 m i l l i o n t o $492 m i l l i o n . Member bank borrowings a t t h e F e d e r a l Reserve Banks exceeded e x c e s s r e s e r v e s by $322 m i l l i o n , compared w i t h $352 m i l l i o n t h e week b e f o r e . The p r i n c i p a l changes r e d u c i n g r e s e r v e s were d e c r e a s e s of $287 m i l l i o n i n F e d e r a l Reserve h o l d i n g s of U. S. Government s e c u r i t i e s and $106 m i l l i o n i n member bank b o r r o w i n g s , and an i n c r e a s e of $25 m i l l i o n i n T r e a s u r y d e p o s i t s w i t h F e d e r a l Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were d e c r e a s e s of $271 m i l l i o n i n money i n c i r c u l a t i o n and $29 m i l l i o n i n f o r e i g n d e p o s i t s w i t h F e d e r a l Reserve Banks. T o t a l Reserve Bank c r e d i t d e c r e a s e d $392 m i l l i o n . As of Wednesday, J a n u a r y 25, h o l d i n g s of U. S, Government s e c u r i t i e s bought o u t r i g h t were $182 m i l l i o n lower than a week e a r l i e r and member bank borrowings were $24 m i l l i o n h i g h e r . Reserve Bank c r e d i t , and r e l a t e d i t e m s Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s - Bought o u t r i g h t — S y s t e m account Held under r e p u r c h a s e agreement Acceptances—bought o u t r i g h t Loans, d i s c o u n t s , and a d v a n c e s - Member bank borrowings Other Float T o t a l Reserve Bank c r e d i t Gold s t o c k Treasury currency outstanding Weekly a v e r a g e s of d a i l y f i g u r e s Change from week ending Week ending J a n . 25, 1956 J a n . 18, 1956 J a n . 26, 1955 (]tn m i l l i o n s of d o l l a r s ) -285 -154 - 12 + 20 8l4 1 1,128 25,480 21,692 5,009 52,180 -106 - 1 + 3 -392 4489 -128 +322 453B - 22 + 24 +539 Money i n c i r c u l a t i o n T r e a s u r y cash h o l d i n g s T r e a s u r y d e p o s i t s w i t h F . R. Banks F o r e i g n d e p o s i t s w i t h F . R. Banks Other d e p o s i t s w i t h F. R. Banks Other F . R. a c c o u n t s ( n e t ) 30,361 793 385 388 318 919 33,165 -271 + 7 Member bank r e s e r v e s — Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) 19,017 18,525 -119 - 43 - 76 23,517 •» — 20 492 - 2 1 - - + 1 -392 + 25 - 29 - 3 - 1 -271 4495 - 34 +113 - 34 + 38 + 18 +598 - 57 + 96 -153 For Wednesday F e d e r a l Reserve f i g u r e s see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - a t t a c h e d . L a t e s o t h e r items a p p e a r i n g above a r e , i n m i l l i o n s of d o l l a r s : 21,693 Treasury cash holdings 799 Gold s t o c k 5,009 Member bank) - R e q u i r e d ( e s t . ) 18,444 Treasury c u r r e n c y o u t s t a n d i n g 30,225 r e s e r v e s ) - Excess (est.) 271 Money i n c i r c u l a t i o n On J a n u a r y 25, 1956, U. S. Government s e c u r i t i e s h e l d i n c u s t o d y by t h e F e d e r a l Reserve Banks f o r f o r e i g n a c c o u n t were $3,680 m i l l i o n , an i n c r e a s e of $8 m i l l i o n f o r t h e week and an i n c r e a s e of $656 m i l l i o n from t h e comparable d a t e a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) Jan. J a n , 25, 1956 A S S E T S Gold c e r t i f i c a t e s "* Redemption f u n d f o r F . R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s F, R. n o t e s of o t h e r Banks Other cash Discounts and advances I n d u s t r i a l loans Acceptances--bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held under r e p u r c h a s e agreement T o t a l U, S, Government s e c u r i t i e s Change s i n c e 1956 20,151,351 860,823 21,012,174 421,302 449,635 846,879 656 19,622 - + + + - 619,000 5,920,699 14,165,913 2,801,750 23,507,362 1955 T o t a l loans and s e c u r i t i e s Due from f o r e i g n banks U n c o l l e c t e d c a s h items Bank premises Other a s s e t s TOTAL ASSETS 24,374,519 22 4,613,658 62,065 193.445 51,126 ,'820 * + • + + + 22,75c 2,975 25,725 183,504 12,163 400,875 174 19,622 330,744 182,200 -7 ,961,642 +8,128,642 - - 182,200 - 182,200 - 163,744 3,000 166,744 - 160,092 + 253,927 554,130 153 ,7,772 + 635,760 7,084 30,286 - - •» 23,507,362 . 1 1,924 1,925 17,632 28,471 23,257 26 1,123 - + + - + + L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l a c c o u n t Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and a c c r u e d d i v i d e n d s TOTAL LIABILITIES 26,205,196 - 201,780 + 581,198 18,715,368 461,353 396,474 346,896 19,920,091 3,827,474 13,092 49,965,853 + + + - - 174,872 - 37,721 C A P I T A L ACCOUNTS Capital paid in S u r p l u s ( S e c t i o n 7) Surplus ( S e c t i o n 13b) Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 304,921 693,612 27,543 134,891 51,126,820 + - 45.6# + R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined Contingent l i a b i l i t y on a c c e p t a n c e s purchased f o r foreign correspondents I n d u s t r i a l l o a n commitments 33,727 2,518 - 451,122 172,300 22,024 36,374 220,424 246,935 796 669,935 + 65,696 + 126,602 + 20,295 456,485 2,383 +1,015,005 586 + + 14,755 32,711 7,230 662,119 + 10,202 + + , +1,072,673 .6$ 1,053 14 + - 12,272 ,T7Q MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 25, 1956 (Acceptances and s e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d a s maturing w i t h i n 15 days i n accordance w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) W i t h i n 15 days 16 days t o 90 days 91 days t o 1 y e a r Over 1 year t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s Over 10 y e a r s Total D i s c o u n t s and advances 840,408 6,471 846,879 Industrial loans 15 549 92 Acceptances >,751 12,871 19,622 U. S. Government securities 262,100 5,368,900 13,860,764 1,587,127 1,013,614 1.414.857 23,507,362 H.4.l(b) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 2 5 , 1956 ( I n t h o u s a n d s of d o l l a r s ) CleveSt. PhilaRichmond A t l a n t a Chicago New York Boston Louis delphia land San Francisco Minneapolis Kansas City 904,337 341,095 795,510 6 6 5 , 0 2 4 2468,237 Dallas A S S E T S Gold c e r t i f i c a t e s Redemption f u n d f o r F . R. n o t e s Total gold c e r t i f i c a t e reserves 20,151,351 952,845 860,823 53,161 21,012,174 1006,006 5 , 1 2 9 , 9 7 5 1149,775 1785,275 70,206 53,404 154,504 44.342 23,667 4l,6oi 26,810 75,154 5,309,288 1210,821 1862,890 1327,288 9 5 2 , 3 0 4 3957,800 948,679 364,762 837,111 691,834 2543,391 16,851 9,616 26,295 18,913 45,565 55,235 45,286 48,290 26,650 - - - - 26,921 257,491 24,821 179,313 61,046 77,615 1257,082 898,900 3803,296 F . R . n o t e s of o t h e r Banks Other c a s h 421,302 449,635 27,679 32,523 94,018 99,462 26,601 31,238 18,737 35,981 40,810 29,578 70,888 33,681 68,567 28,514 15,197 21,730 12,745 10,513 D i s c o u n t s and a d v a n c e s I n d u s t r i a l loans Acceptances— Bought o u t r i g h t U. S. Govt, s e c u r i t i e s ; Bought o u t r i g h t - Bills Certificates Notes Bonds Total Held under r e p u r c h a s e agreement 846,879 59,315 301,235 43,035 57,780 40,395 28,678 164,555 10,925 20,735 58 " - - 656 19,622 - - 15,000 67,810 1298,171 1298,171 5 , 9 7 4 , 2 7 9 1430,705 2 0 2 0 , 2 9 3 1384,913 1213,403 4100,319 975,508 569,654 1022,335 942,598 2575,184 2 4 , 3 7 4 , 5 1 9 1357,486 6 , 2 9 5 , 1 3 6 1474,338 2 0 7 8 , 0 7 3 1425,308 1242,081 4264,874 986,433 590,447 1 0 6 7 , 6 2 1 990,888 2601,834 1 227,266 260,103 8,364 2,247 9,266 451,622 10,252 21,308 9117,195 2172,194 1101,227 2170;436 1999,547 5729,209 Total loans & s e c u r i t i e s 22 4,613,658 62,065 193,445 34,184 326,965 782,298 154,724 1 344,445 5,610 10,194 157,316 1/ 6 805,781 7,873 47,422 51,126,820 2783,944 12,65a,986 37,674 360,345 2 286,293 5,027 11,238 3045,558 53,198 508,843 2 414,519 6,051 16,435 36,468 25,687 2575,184 23,507,362 348,81a 1 355,282 5,395 11,205 1 407,087 4,030 10,897 4432,688 3194,867 2720,969 j / A f t e r d e d u c t i n g $ 1 6 , 0 0 0 p a r t i c i p a t i o n s of o t h e r F e d e r a l R e s e r v e Banks. - - 237,408 616,075 568,025 1 2 1 , 8 4 8 112,344 116,267 9 7 5 , 5 0 8 569,654 1022,335 942,598 T o t a l U. S . Govt, s e e s . TOTAL ASSETS " 3 1 , 9 5 1 107,970 1032,730 305,615 1,504,716 3,600,196 862,166 1217,461 8 3 4 , 5 7 1 7 3 1 , 2 1 6 2470,918 7 1 2 , 0 5 1 170,520 2 4 0 , 7 9 1 165,062 1 4 4 , 6 2 1 4 8 8 , 7 0 1 5 , 9 7 4 , 2 7 9 1430,705 2 0 2 0 , 2 9 3 1384,913 1213,403 4100,319 619,000 5,920,699 14,165,913 2.801,750 23,507,362 Due f r o ® f o r e i g n "banks Uncollected cash items Bank p r e m i s e s Other a s s e t s 19,622 - - 598 3 756,573 6,072 34,792 245,697 587,857 1 189,067 3,403 7,684 143,476 343,283 67,895 1 115,620 2,499 4,640 3,606 1 648,601 1551,847 306,926 2 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 25# 1956 ( I n thousands of d o l l a r s ) ________________ Total L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member "bank r e s e r v e s U„S.Treas.-gen. a c c t . Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 26,205,196 Boston 1570,378 5,961,436 1786,652 2438,028 18,715,368 461,353 396,474 346,896 829,901 3,827,474 313,093 ^ 1 1 5,737,139 304,921 693,612 27,543 134,891 | 16,203 41,667 3 Oil 9*043 51,126,820 2783,944 33,727 i 2,518I 27,588,506 11,713,000 219,691 1,988 & S 3 I : ^ 31 17 ^ 944,362 1538,661 860,532 89,618 195,827 7,319 29,882 12,658,986 2/9,665 - __ 637 2962,001 4327,410 19,944 29,594 49,491 4,489 9.633 1.551 62,563 1,006 633 3133,586 13,880 35,012 3,349 9,040 12,115 3045.558 4432,688 3194,867 2,426 85 3,067 294 d$ aptiis ^City^ 1 579 D a l l a S 1 Francisco 522,126 1029,408 696,232 2598,572 £:$ 972,439 3270,734 ^ 750,993 447,610 912,619 1024,380 2630,721 220,063 378,084 2,140 455 480 510 570 1,136 40,819 30,841 101,894 10,6l6 6,938 12,387 16,665 19,364 7,085 34,394 71,275 2,140 12,887 2667,796 8953,689 2126,323 1070,798 2124,132 1941,245 5608,513 13,863 762 7,707 2720,969 1,719 11 1,483 1655,973 6,280,516 1891,988 2573,714 2073,280 1424,371 -- 1,429 27,649 521 17,586 1,073 4,832 25,960 1,137 6,820 33,847 1,307 6,483 9117,195 2172,194 1101,227 2170,436 1999,547 5729,209.. 4,718 - 1,281 — 842 — l,28l 2,128 5247,400 1281,447 578,280 1069,463 1,719 3,538 742,171 2769,903 640 000 2.870.000 725,000 1070,000 845,000 500,000 2400,000 450,000 150,000 280,000 283,000 1500,000 59 315 -- 43,035 -- 40,395 -- — 10,925 20,735 45,286 17,085,000 1200 000 3,600,000 1200.000 1550,000 1300,000 1000,000 3000,000 910,000 500,000 800,000 525,000 1500,000 29,017,691 1899,315 6,470,000 1968.035 2620,000 2185,395 1500,000 5400,000 1370,925 670,735 1125,286 808,000 3000,000 1 / A f t e r d e d u c t i n g $281,316,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. $24,062,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks, 2 / Aforf tFRASER e r deducting Digitized Louis 634,012 230,350 349,170 301,454 348,572 6l4,26l 156,238 100,582 181,595 648 3,753 13,092 4 9 , 9 6 5 , 8 5 3 2714,020 12,336,340 1 | C o n t i n g . l i a b . on a c c e p t ances purchased f o r foreign correspondents I n d u s t r i a l l o a n commit. 1 F . R. n o t e s o u t s t a n d i n g C o l l a t , f o r F . R. n o t e s : Gold c e r t i f i c a t e s E l i g i b l e paper U. S. Govt, s e c u r i t i e s Total c o l l a t e r a l ^ Chicago 1970,967 1346,206 5066,554 1218,637 % 19,920,091 CAPITAL ACCOUNTS Capital paid in S u r p l u s ( S e c t i o n 7) S u r p l u s ( S e c t i o n 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Richmond A t l a n t a New York
@FedFRASER