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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release March 22, 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 March 21 increased $513 million to $19,204 million. Estimated required reserves increased $372 million; and estimated excess reserves increased $l4l million to $622 millionMember bank borrowings at the Federal Reserve Banks exceeded excess reserves by $312 million, compared with $494 million the week before. The principal changes supplying reserves were an increase of $485 million in Federal Reserve float, and decreases of $75 million in Treasury deposits with Federal Reserve Banks, $27 million in foreign deposits with Federal Reserve Banks, and $12 million in money in circulation. The principal offsetting changes were an increase of $48 million in "other" F. R. accounts (net) and a decrease of $4l million in member bank borrowings. Total Reserve Bank credit increased $446 million. As of Wednesday, March 21, holdings of U. S. Government securities bought outright were $4 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $74 million lower, and member bank borrowings were $357 million higher. Holdings of certificates increased $5,012 million and notes decreased a like amount, reflecting the exchange of notes maturing March 15 and April 1 for Series A-1957 certificates. 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 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 Mar. 21, 1956 Mar. 14, 1956 Mar. 23, 1955 (in millions of dollars) - 5 - 1 934 1 1,297 25,754 21,713 5,013 52,479 - 4l +446 - 4 + 2 +442 +427 - 5 + 18 +U39 30,264 783 - 12 + 4 - 75 - 27 - 10 + 48 - 70 +471 - 35 -398 6 99 +105 + 4o +513 +372 +141 +400 4459 - 59 489 333 336 1,069 33,276 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) -199 + 43 + 15 23,405 103 15 19,204 18,582 622 + 8 «* — +485 +407 -103 +265 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: 21,715 Treasury cash holdings 794 Gold stock 5,015 Member bank) - Required (est.) l8,6l6 Treasury currency outstanding 30,247 reserves ) - Excess (est.) ll6 Money in circulation On March 21, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,8l8 million, a decrease of $4 million for the week and an increase of $761 million from the comparable date Digitized for a FRASER year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Mar. 14, Mar. 23, 1956 1955 Mar. 21, 1956 20,180,988 848,556 21,029,544 298,102 400,013 1,058,693 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 - + 356,826 54 1,000 - + 4,400 ,012,000 +5 -5,012,000 - + 366,244 + 972,558 •p. 805,558 «• 4,400 73,700 78,100 + 644,981 + 314 40,783 + 856,412 26,039,404 - - - 199,244 + 338,993 - - — • 18,731,816 995,368 325,462 324,821 20,377,467 4,453,515 15,947 50,886,333 179,844 434,207 14,091 26,284 + 573,676 + 290,576 604 + 847,700 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 309,720 693,612 27,543 194,904 52,112,112 + +1,183,690 + 8,l8l 29,746 +1,571,118 - + 15,948 + + 143,465 + 240,288 25,484 - 45.3# - 503 + + 39,435 2,466 - + 1,204 53 15,962 32,711 — - 8,209 056,412 .6# 81,460 + 276,809 + 668,767 + 517 >1,488,791 - - + 542,698 + - - + 199,244 — - 277,672 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 2,888 2,903 15 82,097 12,082 523,759 25 14,503 - — — « 24,479,208 22 5,731,826 64,252 109,145 52,112,112 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments • - - 23,405,362 + 2,808 - 14,503 - 13,046 « + + - 9,918 - - -- Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + 650 517,000 10,932,699 9,153,913 2,801,750 23,405,362 22,000 12,082 - + 33,654 +1,571,118 . - + - 10,639 893 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 21, 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 1,052,004 6,596 13 Industrial loans 1,055,693 650 10 322 229 89 Acceptances T,725 8,778 14,503 U. S. Government securities 144,300 372,700 18,872,764 1,587,127 1,013,614 1,414,857 23,405,362 Total Boston New York II STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, 1956 H.4.1(h) Philadelphia St. Louis Chicago Richmond Atlanta Kansas City Minneapolis Dallas San Francisco ASSETS 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. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 20,180,988 899,857 5,306,759 1198,719 1844,009 1337,739 913,001 3470,118 897,704 355,564 791,796 710,342 2455,380 848,556 52,304 175,965 59,619 74,761 65,165 52,732 158,231 43,968 23,549 41,292 26,556 74,414 21,029,5^4 952,161 5,482,724 1258,338 1918,770 1402,904 965,733 3628,349 941,672 379,113 833,088 736,898 2529,794 298,102 400,013 8,387 27,457 64,100 93,844 25,266 23,020 16,118 31,714 20,171 1,058,693 13,135 327,275 25,645 594 14,685 7,578 31,466 44,432 30,458 650 65,389 22,998 10,424 4,174 7,793 7,047 14,250 17,250 18,900 29,466 48,009 17,100 424,550 4,625 49,101 56 88,099 4,850 82,050 22,484 20,732 70,788 26,468 19,208 14,503 14,503 517,000 10,932,699 9,153,913 2,801,750 23,405,362 25,874 28,550 131,393 603,748 2,778,491 665,386 939,589 644,089 26,686 90,179 21,455 564,324 1906,958 453,685 12,528 264,932 475,463 438,379 56,637 1197,65^ 505,516 2,326,421 557,125 786,715 539,294 472,507 1596,689 379,869 221,827 398,104 367,053 1002,793 1 121,848 112,344 306,926 154,724 JU| \JjJtM 240,791 t.TU, )7X 165,062 144,621 488,701 > | 116,267 , CM | 67,895 W| , * J. J.I-, _» T-r 712,051 170,520 " J.C.J.," V/TV **" 1292,530 5,948,356 1424,497 2011,527 1378,903 1208,138 4082,527 971,276 567,182 1017,699 938,508 2564,011 Total U. S. Govt, sees. 23,405,362 1292,538 5,948,356 1424,497 2011,527 1378,903 1208,138 4082,527 971,276 567,182 1017,899 938,508 2564,011 Total loans & securities 24,479,208 1305,673 6,290,134 1450,736 2026,212 1386,481 1225,238 4507,077 975,901 616,339 1105,998 943,358 2646,361 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 1 1/ 6 2 l 1 3 1 1 1 1 2 504,058 10,421 11,897 52,112,112 2692,096 13,163,076 3110,268 4592,411 3270,877 2730,633 9135,723 2191,532 1149,762 2254,749 2041,277 5779,708 1/ After deducting $16,000 participations of other Federal Reserve Banks. 2 5,731,826 387,160 1,1987280 341,523 583,935 423,217 431,918 889,599 232,795 136,656 286,126 316,559 5,580 8,098 5,005 6,424 5,932 4,055 6,047 3,452 3,141 3,7*7 2,390 64,252 5,677 25,890 6,378 9,236 6,297 6,432 20,051 4,289 2,545 4,532 5,921 109,145 H,4.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, I95C (in thousands of dollars) St. ClevePhilaRichmond Atlanta Chicago Louis New York Boston delphia land 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 26,039,404 1555,808 5,957,581 1764,276 2420,918 1967,643 1312,231 5042,8751197,375 18,731,816 739,627 5,503,564 901,781 1450,710 781,203 931,460 3017,924 54,737 155,086 206,946 85,698 70,198 56,680 995,368 74,775 15,861 13,684 43,540 22,392 28,301 1/103,383 18,349 325,462 4,506 2,823 1,178 11,722 710 245,001 324,821 3,591 20,377,467 836,342 6,058,894 1021,593 1549,919 858,250 1002,704 3217,728 4,453,515 226,101 801,823 236,268 509,445 379,515 358,446 696,786 685,046 40,453 514,644 1024,470 680,384 2601,199 422,864 52,346 891,720 63,378 948,225 2457,692 38,554 96,517 795 2,072 745,024 15,861 32,680 812 43,904 483,780 968,988 1003,452 2630,793 200,394 118,894 211,690 11,818 7,707 7,775 11,818 295,834 418,319 802 1,489 487 550 567 801 2,735 762 784 1,634 786 4,550 50,886,333 2619,037 12,822,848 3022,921 4481,916 3206,170 2674,182 8960,124 2143,280 1117,885 2205,698 1980,472 5651,800 15,947 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. 693,612 309,720 16,284 41,667 91,017 195,827 27,543 194,904 12,097 46,065 3,011 7,319 20,031 49,491 4,489 13,336 29,792 62,563 14,086 35,012 17,134 12,260 1,006 3,349 14,302 30,841 41,708 101,894 10,755 27,649 10,546 30,568 9,327 762 1,429 521 6,991 17,586 1,073 6,227 12,585 25,960 1,137 9,369 16,959 33,847 1,307 8,692 35,210 71,275 2,140 19,283 52,112,112 2692,096 13,163,076 3110,268 4592,411 3270,877 2730,633 9135,723 2191,532 1149,762 2254,749 2041,277 5779,708 39,435 2,466 2,319 2/11,375 2,830 88 3,576 250 2,004 1,729 5,502 1,493 983 1,493 2,128 2,004 4,127 FEDERAL RESERVE AGENTS' ACCOUNTS 27,065,442|l6l6,759 6,187,013 1854,659 2522,442 2038,105 1375,253 5143,655 1252,098 569,425 1050,632 726,794 2728,607 I , F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 11,413,000jj 64o,000 2,870,000 725,000 1070,000 845,000 500,000 2100,000 450,000 150,000 280,000 283,000 1500,000 4^7, 'i57f --25,645 -— --4,625 -49,1-01 88,086 Eligible paper U. S. Govt, securities 17,035,000 1200,000 3,600,000 1200,000 1500,000 1250,000 1000,000 3100,000 900,000 460,000 800,000 525,000 1500,000 Total collateral 28,613 Ml 1840,000 6,470,000 1950,645 2570,000 2095,000 1500,000 5200,000 1354,625 -6^101 1168,086 808,000 3000,000 W0,000 l/ After deducting $222,054,000 participations of other Federal Reserve Banks. 2 / After deducting $28,060,000 participations of other Federal Reserve Banks.
@FedFRASER