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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release March 1, 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 29 decreased $153 million to $18,596 million. Estimated required reserves decreased $21 million; and estimated excess reserves decreased $132 million to $403 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $355 million, compared with $87 million the week before. The principal change reducing reserves was a decrease of $453 million in Federal Reserve float. The principal offsetting changes were increases of $136 million in member bank borrowings and $46 million in Federal Reserve holdings of U. S. Government securities, and decreases of $60 million in "other" deposits with Federal Reserve Banks, $30 million in money in circulation, and $15 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $271 million. As of bought outright securities held bank borrowings Wednesday, February 29, holdings of U. S. Government securities were $88 million higher than a week earlier, U. S. Government under repurchase agreement were $28 million higher, and member were $3 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 Week ending Change from week ending Feb. 29, 1956 Feb. 22, 1956 Mar. 2, 1955 0 Cn millions of dollars) 23,384 51 15 + 51 - 5 - 1 -220 + 51 + 15 758 1 880 25,089 21,695 5,012 51,796 +136 -453 -271 + 1 + 1 -26'9 +375 -106 + 83 +197 - 21 + 17 +I54 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) 30,180^ 793-'^ 542 354 306 1,025 33,200 - 30 - 1 - 15 - 8 - 60 - 1 -ll6 +384 -34 - 33 + 30 -175 + 68 +239 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,596 18,193 403 -153 7-21 -132 - 46 +104 -150 m m, 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 796 Treasury currency outstanding 5,011 Member bank) - Required (est.) 18,215 Money in circulation 30,155 reserves ) - Excess (est.) 213 On February 29, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,793 million, an increase of $23 million for the week and an increase of $8l4 million from the comparable date year ago. a H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Mar. 2, Feb. 22, 1955 1956 Feb. 29, 1956 ASSETS Gold certificates Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U, S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Eeld under repurchase agreement Total U. S. Government securities 20,156,351 854,771 21,011,122 330,403 443,227 631,568 695 14,484 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS LIABILITIES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 1 1 2 3,411 1,872 2,748 40 500 - - + - + 538,200 5,920,699 14,165,913 2,801,750 23,426,562 55,900 237582,462 + 24,129,209 22 4,509,492 63,076 128,302 507^14,853 + 88,000 — «• + + - 345,044 -4,039,442 +4,206,442 55,900 122,144 112,792 + 138,676 - 562,083 + 164 + 10,466 - 440,202 + 186,345 + 7,595 - , 4,554 + 426,255 50,498 + 443,937 + 1,589 - 448,942 + . + + + 126,498 35,79k 34,161 180,529 308,660 218,188 1,264 354,729 678 + 15,669 32,711 18,428,104 553,556 363,439 305,492 19,650,591 3,718,414 15,841 49,414,333 + 308,769 693,612 27,543 170,596 50,614,853 + 46.0$ + .4% 36,586 2,444 + 3,773 52 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 20,745 117,373 1,565 246,168 168 14,484 28,000 116,000 26,029,487 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS - - - + - 38,933 7,379 1,544 369,241 339,231 60,802 + 23,146 426,255 8,062 440,202 - - + - .2)6 8,504 789 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 29, 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 l6 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 advancesloans 1 624,776 14 6,792 589 91 "631,568 E95™ Acceptances 5,845 8,639 14,484 U, S. Government securities 4,171,600 1,434,500 13,860,764 1,587,127 1,013,614 1.414,857 23,402,462 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 29, 1956 (In thousands of dollars) St. Phila- CleveChicago Louis Boston New York delphia land RichmondIAtlanta H.4.l(fc) Total Minneapolis Kansas City San Dallas Francisco ASSETS Gold certificates Redemption fund for F. R. notes Total gold certificate reserves 20,156,351 978,668 5,294,011 1162,119 1797,677 1267,148 868,146 3687,151 862,126 302,123 806,469 698,146 2432,567 854,771 52.805 178,011 60,483 77,109 68,367 53,134 153,989 44,199 23,614 41,488 26,704 74,868 21,011,122 1031,473 5,472,022 1222,602 1874,786 1335,515 921,280 3841,140 906,325 325,737 847,957 724,850 2507,435 32,068 6,425 15,627 8,534 F.R. notes of other Banks 79,995 26,474 15,609 28,660 71,740 21,541 10,579 330,403 13,151 16,021 55,245 19,497 9,613 33,725 72,680 22,947 99,718 26,994 30,590 25,295 Other cash 443,227 30,902 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Govt, sees. 631,568 695 52,298 41,230 167,545 136,781 32,756 46,254 31,708 29,721 326,965 1,504,716 360,345 508,843 348,812 782,298 3,600,196 862,166 1217,461 834,571 712,051 170.520 240,791 165,062 154,724 1293,708 5,953/744 1425,*787 2013,'349 1380,153 27,780 93,876 305,615 1032,730 . . 731,216 2470,918 144,621 488,701 1209,232 4086,225 36,560 25,900 638 34,312 14,575 33,724 57 45,574 21,500 54,150 14,484 14,484 538,200 5,920,699 14,165,913 2,801,750 23,426,562 104,200 55,900 58,959 13,042 23,407 21,581 22,335 648,601 143,476 257,491 237,408 245,697 587,857 343,283 616,075 568,025 1551,847 116,267 67,895 121,848 112,344 306,926 972,156 567,696 1018,«21 939,35% 2566,333 55,900 23,462,462 1293,708 6,009,644 1425,787 2013,349 1380,153 1209,232 4086,225 972,156 567,696 1018,821 939,358 2566,333 Total loans & securities 24,129,209 1330,268 6,128,328 1452,325 2047,661 1432,451 1250,462 4253,770 986,731 601,477 1064,395 960,858 2620,483 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1 4,509,492 329,337 63,076 5,579 128,302 6,725 22 1 1 1 1/ 6 2 2 1 1 3 1 8197929 286,324 459,830 344,407 338,459 764,434 177,184 114,755 216,521 230,728 2,859 3,633 2,313 7,954 5,005 6,230 5,679 4,015 6,035 3,392 2,981 5,373 6,451 30,704 7.430 11,078 7,428 7,455 23,618 5,107 50,614,853 2747,436 12,638,656 3027,156 4445,786 3179,436 2627,137 8983,221 2112,266 1065,957 2160,326 1960,325 5667,151 1/ After deducting $16,000 participations of other Federal Reserve Banks. 2 427,584 10,382 13,952 B.4.1(c) Total STATEMENT OF CONDITION^ EACH FEDERAL RESERVE BANK ON FEBRUARY 29, 1956 (In thousands of dollars) St. Cleve- Richmond!Atlanta Chicago Boston New York Louis land 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 26,029,487 1551,048 5,932,191 Conting. liab. on accept ances purchased for foreign correspondents Industrial loan commit. Dallas San 1Francisco 3019,971 675,982 379,470 846,380 944,387 2488,098 18,428,104 755,506 5,292,154 859,456 1468,381 798,082 900,237 53,666 11,239 53,297 82,797 16,734 29,364 45,086 34,378 53,428 86,404 37,163 50,000 553,556 8,475 12,882 17,289 35,620 47,460 12,882 14,916 363,439 20,001 1/121,368 24,408 30,849 17,289 1.660 1.804 1.024 42,437 >6 1,696 2,344 1,448 2,652 ~ 232,205 ,05,492 871,143 970,146 3151,169 713,154 418,969 906,152 1016,366 2577,394 19,650,591 828,159 5,732,131 930,752 1535,056 3,718,414 295,604 636,085 239,737 378,787 277,102 281,969 614,694 147,042 101,108 176,214 203,077 366,995 600 576 486 1,326 629 702 2.745 496 1,867 854 4,768 15,841 1034,663 2112,410 1900,457 5542,091 3116,099 2572,073 8812,239 2064,917 49,414,333 2675,603 12,305,175 2941,332 4337,274 308,769 693,612 27,543 0.614.8 16,266 41,667 3,ou 90,816 195,827 7,319 QG en Q 436 12.638.656 19,989 49,491 4,489 11.ASS 29,764 62,563 1,006 15.179 156 444 14,051 35,012 3,349 10.925 14,059 41,664 30,841 101,894 1,429 762 25,995 4l6 262 10,751 27,649 521 8.428 36,586 2,444 2,159 2/10,454 ™" __ 6,986 17,586 1,073 5.649 12,554 25,960 1,137 8.265 16,931 33,847 1,307 7.783 34,938 71,275 2,140 16.707 667.151 8983,221 2112,266 5,124 1,391 2,635 3,330 1,867 1,610 45 260 11 FEDERAL RESERVE AGENTS' ACCOUNTS" 5168,922 1266,928 F. R. notes outstanding 127,186,444 1628,499 6,222,220 1864,661 2537,866 2032,392 1383,847 Collat. for F. R. notes: 2,870,000 725,000 1070,000 845,000 500,000 2400,000 450,000 Gold certificates 11,713,000 640,000 14,575 25,900 36,560 Eligible paper 156,333 900,000 2900,000 3,600,000 1200,000 1550,000 1250,000 1000,000 U. S. Govt# securities 16,925,000 1200,000 6,470,000 1950.900 2620.000 2095,000 1500,000 5300,000 1364,57; Total collateral 28,794,333 1876,560 l/ After deducting $242,046,000 participations of other Federal Reserve Banks, 2/ After deducting $26,132,000 participations of other Federal Reserve Banks. Kansas Citj 1769,989 2421,564 1967,225 1319,256 5043,631 1204,225 513,986 1029,468 680,528 2596,376 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Minneapolis 915 1,391 2,128 1,867 3,843 571,262 1057,064 728,139 2724,644 150,000 280,000 283,000 1500,000 33,724 45,574 500,000 800,000 525,000 1500,000 683.724 1125,574 808,000 3000,000
@FedFRASER