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H.4.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release July 5# 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 July 4 decreased $128 million to $18,902 million. Estimated required reserves decreased $9 million; and estimated excess reserves decreased $119 million to $4-73 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $170 million, compared with $l64 million the week before. The principal changes reducing reserves were an increase of $278 million in money in circulation, and decreases of $138 million in Federal Reserve float and $113 million in member bank borrowings. The principal offsetting changes were an increase of $313 million in Federal Reserve holdings of U. S. Government securities and a decrease of $ 7 8 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $63 million. As of Wednesday, July 4, holdings of U. S. Government securities bought outright were $348 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $6 million lower, and member bank borrowings were $33 million higher. 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 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) Weekly averages of daily figures Change from week ending Week ending July 4, 1956 June 27, 19561 July 6, 1955 (In millions of dollars) + 56 23,748 43 +296 + 17 + 32 18 + 1 + * + 3 + * 643 1 1,231 -113 + 8 - 53 +373 +419 * 25t59r5 21,806 5,032 52,522-3 30,769-5 774 3 49a- 3 298 298 993 33,629-1 • -138 + 63 + 7 - l + 70 +278 - 5 - 78 + l + 8 - 7 +198 +128 + 29 +576 +464 * 38 + 72 ™ 69 -170 + 23 +283 +293 -128 18,902 Member bank reserves-+g44 18,429 - 9 Required reserves (estimated) - 51 -119 473 Excess reserves (estimated) *Less than $500,000. 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: 21,824 Treasury cash holdings 773 Gold stock 5,031 Member bank) - Required (est.) 18,388 Treasury currency outstanding 30,879 reserves ) - Excess (est.) 542 Money in circulation On July 4, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,633 million, a decrease of $69 million for the week and an increase of $336 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) Change since July 6, June 27, 1955 1956 July 4, 1956 A S S E T S 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 U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 20,290,392 843,128 21,133,520 213,342 341,550 570,084 874 17,536 + 950,970 10,932,699 9,153,913 2,801,750 23,839,332 23,500 23,862,832 + 24,451,326 + ±+ 22 56,569 29,624 29,068 429 2,406 347,700 - 171,830 +2,658,924 -2,491,924 347,700 -6,400 + 341,300 + 4,830 19,500 14,670 374,953 - 11,563 224,165 51,134,264 +_ + 330,227 61 10,451 1%646 26,485,572 + 277,087 + 4,702,553 67,786 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 134,289 8,486 142,775 21,003 3,797 24,800 53,289 8,103 32,718 48 983 + + 761,681 + 10,705 + 74,866 +1,064,657 467,495 455,481 21,770 91,491 2,413 164,861 3,538 z. 235,744 + 177,399 494,169 + 313,691 370,676 + x \ 9 » : 291,027 - 286,^76 19,954^^/+ 3,4lQ,0'i914,870 - 49,666 861 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 128,981 - — 316,051 693,612 27,543 230,197 51.134,264 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments +_ + 8,728 +_ 1,266 9,934 + 959,851 440 + + -- 20,488 32,711 8,272 + 51,601 18,646 +1.064,657 .3$ 45.5# 44,819 2.585 537 + 8 - 19,744 §51 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 4, 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 56*1557 i -9-, 527 570,084 Industrial loans 1 142 399 332 m Acceptances 5,062 12,474 17,536 V. S. Government securities 226,200 8,688,335 11,432,699 1,087,127 1,013,614 1.414,857 23,862,832 B.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 4, 1956 Philadelphia Cleveland New York 20,290,392 913,909 5,364,527 1171,817 1807,321 1230,566 843.128 54,404 21,133,520 968,313 F.R. notes of other Banks Other cash 213,342 341,550 8,026 22,476 35,843 70,897 13,732 17,484 11,361 32,454 16,892 17,387 Discounts and advances Industrial loans Acceptances-Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 570,084 874 17,714 300 40,950 34,912 522 33,130 30,357 17,536 - — -- A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 17,536 52,271 950,970 10,932,699 600,927 9,153,913 503,154 2,801,750 154,001 23,839,332 1310,353 23,862,832 Total loans & securities 24,451,326 1328,367 TOTAL ASSETS 22 4,702,553 67,786 224,165 60.074 1310,353 1 484,115 5,449 11.920 74.770 Minneapolis Kansas City Dallas 888,810 3651,113 825,879 352,248 809,997 723,603 2550,602 155.221 41.058 21.313 40.586 25.981 72.671 939,991 3806,334 868,937 375,561 850,583 749,584 2623,273 53,677 29,291 17,675 52,643 8,04l 24,006 7,713 8,157 6,016 11,441 11,156 14,784 23,210 40,530 18,800 199,230 11,200 58,740 52 81,481 19,020 24,550 51.181 est «• Chicago - - 48,899 82,252 58,551 57,144 239,337 562,148 945,602 673,115 2,751,520 656,957 2,303,839 550,068 791,749 563,597 470,685 705.139 168.360 242,332 172.501 144.063 5,999,835 1432,529 2061,935 1467,764 1225,795 m mm 165,917 1907,450 1597,102 488.827 4159,296 -» •» " 39,703 456,440 382,176 116.971 995,292 — — -- - - 21,480 106,415 41,205 37,796 246,937 473,714 434,509 1223,380 206,759 396,639 363,813 1024,332 61.281 121.400 . 111,353 313,518 538,459 1032,958 947,471 2667,645 • • - • 995,292 538.459 1032.958 947.471 2667.645 6,081,821 1467,963 2095,065 1498,121 1244,595 4358,526 1006,492 597,251 1114,439 966,491 2692,195 1 212,300 4,071 9,651 1 215,419 2,586 10.121 2 417,545 10,864 24.916 6.021.115 1412.529 2061.915 1467.764 1225.795 4159.296 1/ 6 958,524 8,418 54.801 2 286,187 4,916 12.998 2 414,728 6,980 19.120 1 339,620 6,665 13.562 1 3 344,230 736,404 4,010 5,968 40.855 12.309 1 184,321 3,693 9.044 1 109,160 4,166 4.868 51,134,264 2828.667 12.753.246 1035.171 4461.801 3186.274 2628.104 9018.408 2104.515 1106.877 2208,502 1970,142 1/ After deducting $16,000 participations of other Federal Reserve Banks. 63.460 5,542,936 1231,891 1882,091 1294,026 23,500 23,500 Total U. S. Govt, sees. Due from foreign banks Uncollected cash items Bank premises Other assets 178,409 San Francisco St. Louis Richmond Atlanta Boston Total 5832,53,5... H.4.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 4, 1956 (in thousands of dollars) St. Phila- Cleve- Richmond Atlanta Chicago New York Boston Louis land delphia Minneapolis Kansas City Dallas San Francisco 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 26,485,572 1611,591 6,061,881 1764,426 2479,226 2004,969 1316,056 5113,939 1183,900 517,000 1047,716 697,535 2687,333 18,930,241) 797,088 446^c6l 30,067 16,697 291,02? 286,576 3,115 846,967 19, 9 5 W 5,377,488 901,424 1483,838 45,447 29,932 36,382 1/ 88,940 20,376 25,753 210,021 9,792 3,278 5,721,896 961,524 1549,251 615,972 294,384 218,893 317,770 801,609 918,785 3074,623 6?4 31,447 37,300 97,509 14,433 12,452 39,620 10,754 1,747 616 7,671 3,004 970,284 3212,368 7 W S1 850,493 -xa,0*3 262,803 282,589 505,695 151,4^ 441,340 17,831 7,075 901,673 27,578 10,754 992,869 2565,371 20,329 14,433 1,030 46,l4l 29,740 44,332 810 1,160 467,056 941,165 1028,661 2685,584 89,723 168,550 181,111 323,150 4,603 680 1,815 591 581 2,830 445 44l 536 4o6 1,072 870 49,866,861 2753,812 12,404,352 2945,523 4348,062 3118,856 2569,510 8834,832 2054,875 1074,220 2157,967 1907,713 5697,139 14,870 CAPITAL 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. 316,051 693,612 27,543 230,197 51,134,264 44,819 2,585 16,374 91,483 41,667 195,827 3,011 13,803 7,319 54,265 20,069 49,491 4,489 15,601 30,075 14,509 1,006 20,095 3,349 14,548 62,563 35,012 14,651 30,841 762 12,340 42,276 101,894 1,429 37,977 10,862 27,649 521 10,628 17,586 7,027 25,960 12,702 17,318 1,073 6,971 1,137 10,736 1,307 9,957 33,84? 38,705 71,275 2,140 23,276 2828,667 12,753,246 3035,173 4461,801 3186,274 2628,104 90l8,4o8 2104,535 1106,877 2208,502 1970,142 5832,535 6,272 2,285 1,971 4,077 3,226 108 240 109 FEDERAL RESERVE AGENTS' ACCOUNTS 6,229,591 1829,657 2554,627 2046,800 1362,488 5191,529 2,643 2/ —• 12,832 —— 1,702 1,120 1,702 2.128 2,285 4,704 1230,506 562,192 1067,4l6 737,466 2786,581 F. R. notes outstanding 27,234,868 1636,015 Collat. for F. R. notes: Gold certificate acct. 11,498,000 580,000 2,870,000 650,000 1090,000 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 — —— —— 34,912 —— —— —— —— 11,200 —— 8l,48l -— Eligible paper 127,593 U. S. Govt, securities 16,935,000 1200,000 3,600,000 1200,000 1500,000 1250,000 1000,000 3000,000 900,000 460,000 800,000 525,000 1500,000 28.560.59ll1780.000 6.470.000 1884.912 2590.000 2095.000 Total collateral 1/ After deducting $202,(062,000 participations of other Federal Reserve Banks. 2/ After deducting $ 31,987,000 participations of other Federal Reserve Banks.
@FedFRASER