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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release March 29, 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 hank reserves for the week ending March 28 decreased $176 million to $19,028 million. Estimated required reserves decreased $106 million; and estimated excess reserves decreased $70 million to $553 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $643 million, compared with $311 million the week before. The principal changes reducing reserves were a decreaseof $356 million in Federal Reserve float and an increase of $110 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of ^ $262 million in member bank borrowings, and decreases of $19 million in 'other deposits with Federal Reserve Banks and $15 million'in money in circulation. Total Reserve Bank credit decreased $93 million. As of bought outright securities held bank borrowings Wednesday, March 28, holdings of U. S. Government securities were $182 million higher than a week earlier, U. S. Government under repurchase agreement were $l6 million higher, and member were $353 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement Acceptances--bought outright Loans, discounts, and advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Weekly averages of daily figures Change from week ending Week ending Mar7""21, 19561 Mar . 30, 1955 Mar. 28, 1956 "(In millions of dollars' 23,495 13 14 + 90 - 90 -109 1,196 1 941 25,661 21,715 5,015 52,391 +262 +544 - 93 +264 ^533 - 4 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) 30,249 787 599 341 317 Member bank reservesRequired reserves (estimated) Excess reserves (estimated) 19,028 1B7W5 553 1,069 - l -356 - 93 + 2 + 13 + l4 + 2 T~8S + 18 - 15 +533 - 39 -401 + 3 -173 +105 + 28 + 4 +110 + 8 - 19 33,363 -176 -To5 - TO +648 +620 +557 + 63 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 787 Gold stock 5,015 Member bank) Required (est.) 18,464 Treasury currency outstanding 30,238 reserves ) - Excess (est.) 118 Money in circulation On March 28, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,796 million, a decrease of $22 million for the week and an increase of $728 million from the comparable date a Digitized foryear FRASER ago. H.4.1(a) STATEMENT OF, CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Mar. 21, Mar. 30, 1956 1955 Mar. 28, 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 + 20,190,988 845,173 21,036,161 290,280 388,338 705,946 682 14,502 - + ~ - + + 699,000 10,932,699 9,153,913 2,801,750 23,587,362 16,000 23^03,362 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 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 + + + 182,000 - - + + - — — + - - - 12,885 3,651 9,234 88,228 21,714 14,860 161 14,502 184,244 972,558 805,558 - - + + + - - 182,000 16,000 198,000 24,324,492 22 4,433,412 64,271 118,175 50,655,151 -1,298,414 + 19 + 9,030 -1,456,961 26,009,343 - 18,582,226 511,721 342,652 316,478 19,753,077 3,640,637 17,577 49,420,634 + 309,982 693,612 27,543 203,380 50,655,151 + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + 10,000 3,383 6,617 7,822 11,675 352,747 32 1 154,716 - 17,244 16,000 1,244 + 28,279 + + + 643,622 8,307 26,449 729,507 + 518,775 + 194,400 339,585 13,127 120,934 279,246 402,431 1,187 643,147 - + - - 30,061 149,590 483,647 17,190 8,343 - 624,390 - 812,878 + 1,630 -1,465,699 - « • - - + + + + + 16,078 -1,456,961 + + 37,571 729,507 + .7% - 362 34 - 262 32,711 — — — + 46.0$ 39,073 2,432 8,476 + .2$ 9,939 1,081 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 28, 1956 (Acceptances and securities held under repurchase agreement are classifed 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 ?°tal Discounts and advances 696,96k 8,969 13 --__ 705,946 Industrial loans 10 356 227 89 — -682 Acceptances 4,623 9,879 — -__ 14,502 U. S. Government securities 125,100 589,900 18,872,764 1,587,127 l,013,6l4 1 >14.857 23,603,362 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 28, 1956 H.4.1(b) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco ASSETS Gold certificate account 20,190,988 950,141 5,456,487 1201,435 1791,711 1303,833 885,191 3445,502 870,496 339,047 798,611 698,426 2450,108 Redemption fund for 74,247 175,290 59,292 74,500 64,006 52,587 157,977 43,883 23,526 41,231 26,504 845,173 52,130 F. R. notes Total gold certificate 21,036,161 1002,271 5,631,777 1260,727 1866,211 1367,839 937,778 3603,479 914,379 362,573 839,842 724,930 2524,355 reserves F.R. notes of other Banks Other cash 290,280 388,338 10,341 26,410 61,557 89,816 24,321 19,399 17,173 28,730 24,022 18,945 66,969 31,000 21,780 63,744 9,571 22,937 4,190 8,371 7,173 13,581 14,337 18,175 28,846 47,230 Discounts and advances Industrial loans Acceptances-Bought outright U. S. Govt. securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 705,946 682 19,830 143,995 17,500 626 54,165 14,043 28,232 312,210 11,200 34,340 56 59,981 2,700 7,750 Total U. S. Govt, sees. 14,502 699,000 10,932,699 9,153,913 2,801,750 23,587,362 " 14,502 - - - - 38,601 177,647 42,543 60,074 4i,181 603,748 2,778,491 665,386 939,589 644,089 505,516 2,326,421 557,125 786,715 539,294 712,051 170,520 240,791 165,062 154,724 5,994,610 1435,574 2027,169 1309,b2b 1302,589 16.OOO - - 36,080 564,324 472,507 144,621 1217,532 - - 121,925 1906,958 1596,689 488,701 4114,273 - - - - — - - - - - 76,574 29,007 16,939 30,399 28,030 1197,655 438,379 264,932 475,463 453,685 379,869 221,827 398,104 367,053 1002,793 116,267 67,895 121,848 112,344 306,926 978,828 571,593 1025,814 945,806 2583,948 16,000 23,603,362 1302,589 6,010,610 1435,574 2027,169 1389,626 1217,532 4114,273 978,828 571,593 1025,8l4 945,806 2583,948 Total loans 8c securities 24,324,492 1322,419 6,169,107 1453,700 2081,334 1403,669 1245,764 4426,483 990,028 605,989 1085,795 948,506 2591,698 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1 22 334,260 4,433,412 5,547 64,271 6,032 118,175 1 1 l/ 6 2 2 1 1 3 1 1 8507421 260,868 475,219 357,659 328,649 693,205 166,937 113,521 194,970 221,399 8,098 4,983 6,443 5,911 4,04i 6,042 3,453 3,138 3,755 2,410 28,240 6,903 10,202 6,935 6,908 21,407 4,647 2,784 4,964 6,242 50,655,151 2707,281 12,839,022 3030,903 4485,314 3184,981 2621,110 8836,143 2111,953 1100,567 2150,081 1936,000 5651,796 17 After deducting"pbJOOO participations of other Federal Reserve Banks, f 436,304 10,450 12,911, STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 28, 1956 H.4.1(c) Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minne- , Kansas City apolis 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 CAPITAL 26,009,343 1561,342 5,951,575 1769,939 2423,797 1964,670 1305,049 5034,031 1192,691 513,100 1020,368 681,333 2591,448 18,582,226 710,383 5,482,891 877,508 1494,135 802,390 907,663 2965,307 676,877 420,591 858,741 940,451 2445,289 31,935 41,899 35,830 43,289 38,858 39,898 46,271 51,937 55,905 33,635 45,061 47,203 511,721 8,275 12,578 16,881 34,780 23,832 30,121 16,881 14,564 46,340 12,578 342,652 19,529 1/106,293 316,478 2,131 242,443 10,383 855 3,368 1,545 580 7,704 934 2,201 871 43,463 19,753,077' 777,104 5,878,830 950,581 1565,009 868,910 975,709 3068,132 730,794 461,735 915,419 994,033 2566,821 | 3,640,637 294,435 661,179 221,647 383,399 285,195 282,690 553,831 139,292 93,091 164,208 198,639 363,031 551 667 876 1,705 4,935 878 1,904 859 796 2,880 594 932 17,577 49,420,634 2633,813 12,496,519 2943,045 4374,109 3119,634 2564,244 8658,874 2063,371 1068,477 2100,662 1874,881 5523,005 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. F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 309,982 693,612 27,543 203,380 16,284 41,667 3,011 12.506 91,017 195,827 7,319 48,340 20,032 49,491 4,489 13,846 29,813 62,563 1,006 17,823 14,274 35,012 3,349 12,712 41,717 101,894 1,429 32,229 10,760 27,649 521 9,652 6,993 12,585 16,967 1,073 6,438 1,137 9,737 1,307 8,998 17,586 25,960 33,847 35,211 71,275 2,140 20,165 50,655,151 2707,281 12,839,022 3030,903 4485,314 3184,981 2621,110 8836,143 2111,953 1100,567 2150,081 1936,000 5651,796 39,073 2,432 2,325 2/10,941 2,009 1,734 3,586 2,837 248 56 FEDERAL RESERVE AGENTS' ACCOUNTS 5,516 1,497 985 1,497 2,128 2,009 4,137 27,045,645 1614,313 6,186,825 1854,440 2520,582 2033,811 1369,616 5142,898 1247,071 569,261 1056,769 725,755 2724,304 640,000 2,870,000 725,000 1070,000 845,000 500,000 2100,000 450,000 150,000 280,000 283,000 1500,000 — 59,968 — —~ 11,200 88,668 --17,500 — 460,000 800,000 525,000 1500,000 3100,000 900,000 1500,000 1250,000 icoo,coo 1200,000 3,600,000 1200,000 17,035,000 28,536,668 1840,000 6,470,000 1942,500 2570,000 2095,000 1500,000 5200,000 1361.200 610,000 1139,968 808,000 3000,000 11,413,000 l/ After deducting $ 2 3 6 , 3 3 4 , 0 0 0 participations of other Federal Reserve Banks, 2 / After deducting $ 2 8 , 1 3 2 , 0 0 0 participations of other Federal Reserve Banks. 14,329 30,841 762 10,934
@FedFRASER