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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release "Hay 10, 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 tank reserves for the week ending May 9 increased $8l million to $l8,848 million. Estimated required reserves decreased $46 million; and estimated excess reserves increased $127 million to $591 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $523 million, compared with $625 million the week before. The principal changes supplying reserves were decreases of $64 million in "other" deposits with Federal Reserve Banks and $20 million in Treasury deposits with Federal Reserve Banks, and increases of $53 million in Federal Reserve holdings of U. S. Government securities, $25 million in member bank borrowings, and $25 million in gold stock. The principal offsetting changes were an increase of $115 million in money in circulation and a decrease of $20 million in Federal Reserve float. Total Reserve Bank credit increased $59 million. As of Wednesday, May 9, U. S. Government securities held under repurchase agreement were $109 million lower than a week earlier and member bank borrowings were $102 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 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 May 9, 1956 May 2, 19561May 11, 1955 (in millions of dollars) 23,252 100 14 + 9 + 44 -450 - 37 - 1 1,114 1 844 25,325 21,768 5,025 5271IS + 25 + 59 + 25 + 2 TEB +825 - 84 +148 +401 + 97 + 26 +523 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) 30,296 781 555 334 321 982 33,270 +115 - 5 - 20 - 4 - 64 - 16 T~B +437 - 30 +275 - 29 -121 +62 +595 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,848 18,257 591 +81 - 72 T8l -153 - 20 +127 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 21 768 Treasury cash holdings 792 Treasury currency outstanding 5^025 Member bank) - Required (est.) 18,214 Money in circulation 30,317 reserves ) - Excess (est.) 403 On May 9, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,738 million, an increase of $11 million for the week and an increase of $570 million from the comparable date a year ago. H.4:1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 2, May 11, 1956 1955 May 9, 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 363,470 10,932,699 9,153,913 2,801,750 23,251,832 20,600 23,272,432 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,290,811 22 4,214,228 65,518 173,628 50,460,050 20,240,986 841,193 21,082,179 270,808 + 1,003,066 + 14,345 + + 362,856 968 L I A B I L I T I E S Federal Be serve 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 49,260,325 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 314,051 693,612 27,543 164,519 50.460,050 26,031,661 18,616,940 498,223 335,586 322,476 19,773,225 3,436,570 62 + - - 34,935 24,846 21,530 102,495 27 44o - + •- + + + + + + - + — - - 102,884 10,981 91,903 69,734 1,902 638,107 326 140 617,080 972,558 805,558 - - - 109,250 109,250 6,288 - + 450,080 35,072 485,152 153,421 - ** + - + 433,599 117 11,841 439,370 + 251,451 9,507 + 9,902 4" 587,820 69,262 + 44,043 87,030 + 488,971 52,027 182,268 335,253 200 448,059 + + + 60,374 114,987 52,741 97,910 96,038 115,710 176 508,819 + 251 — + + 21,84? 32,711 + - 8,438 439,370 + + 24,443 587,820 46.0# + .2# ~ .2# 44,508 2,432 + - 1,590 27 + 18,287 983 18,869 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 34,997 ~ - + - + - 832 - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 9, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordence with maximum maturity of the agreements*) Discounts and advances 991,926 11,140 Within 15 days if days to 90 days 9L days to 1 year Over 1 year to 5 years -Over 5 years to 10 years -Over 10 years -Total 1,003,066 Industrial loans 1 427 170 37O --968 Acceptances 5,250 9,095 ---14,345 U. S. Government securities 96,170 287,900 19,372,764 1,087,127 1,013,614 1,414,857 23,272,432 5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 1956 Total Boston New York Philadelphia CleveRichmond Atlanta land 1137,788 1798,551 1257,143 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco A S S E T S Gold certificate account 20,240,966 992,023 5,331,351 Redemption fund for F. R. notes 841,193 51*404 172,282 Total gold certificate reserves 21,082,179 1043,427 5,503,633 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 58,040 1195,828 73,446 69,330 1871,997 1326,473 907,042 3505,403 825,833 381,768 838,017 648,212 2617,855 43,554 23,445 40,962 26,254 73,625 959,037 3662,259 869,387 405,213 878,979 674,466 2691,480 10,862 4,971 11,815 15,136 24,593 38,608 65,125 42,600 10,500 8,210 15,749 14,446 246,937 473,714 434,509 206,759 396,639 363,813 63,283 121,400 111,353 525,189 1007,502 924,121 40,673 1223,380 1024,332 313,518 2601,903 51,995 156,856 270,808 13,178 29,113 63,084 92,907 24,623 16,796 12,058 27,042 19,543 17,359 61,355 27,946 21,323 55,688 9,766 22,267 4,499 9,132 1,003,066 55,885 300 131,165 101,610 613 100,260 19,974 36,577 359,565 44,630 35,175 55 362,856 968 14,345 14,345 363,470 19,978 91,476 10,932,699 600,927 2,751,520 9A53,913 503,154 2,303,839 2,801,750 154,001 705,139 23,251,832 1278,060 5,851,974 21,841 31,438 22,379 18,690 945,602 673,115 562,148 656,957 550,068 791,749 563,597 470,685 168,360 242,332 172,501 144,063 1397,226 2011,121 1431,592 1195,586 63,415 15,175 1907,450 456,440 1597,102 382,176 488,827 116,973 4056,794 970,764 20,600 Total U. S. Govt, sees. 23,272,432 1278,060 5,872,574 1397,226 2011,121 1431,592 1195,566 4056,794 970,764 525,189 1007,502 924,121 2601.903 Total loans & securities 24,290,811 1334,245 6,018,084 1499,449 2111,381 1451,566 1232,163 4416,359 1015,394 560,419 1072,627 966,721 2612,403 1 113,643 3,610 3,647 1 211,979 2,463 7,863 2 430,461 10,664 25,196 4411,271 3172,823 2623,272 8876,249 2114,851 1100,164 2176,411 1890,444 5833,407 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS y After &educting$lb,000 1/6 721,901 8,052 39,874 2 274,916 4,960 9,650 50,460,050 2787,39332,447,541 3026,224 22 4,214,228 65,518 173,628 1 353,038 5,515 8,876 2 367,984 6,542 14,265 participations of other Federal Keserve Banks. 1 341,628 6,208 10,045 1 329,421 4,028 9,321 3 683,414 6,007 31,196 1 187,837 3,557 6,642 1 198,006 3,912 7,053 HA.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 1956 (In thousands of dollars) St. Phila- CleveRichmond 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 26,031,661 1553,149 5,931,020 1754,280 2428,106 1972,912 1308,084 5048,393 1191,506 518,319 1030,880 681,855 2613,157 18,616,940 498,223 335,586 322,476 19,773,225 800,530 38,054 19,116 2,427 860,127 5,235,206 75,238 1/104,225 " 249,355 882,503 1494,807 35,463 30,524 23,328 29,484 9,332 1,467 802,547 39,664 16,524 3,295 918,799 3000,599 37,974 64,771 14,256 45,360 1,979 1,202 673,084 27,972 12,312 7,516 408,181 32,937 8,100 490 883,899 40,429 12,312 2,04l 920,318 2596,467 30,034 45,163 16,524 34,045 1,055 42,317 3,436,570 301,385 515,736 234,881 316,730 273,619 286,302 541,369 154,706 100,264 158,548 180,214 372,816 18,869 1,120 4,916 949 2,125 870 778 3,672 630 771 679 758 1,601 314,051 16,348 41,667 3,011 91,353 195,827 7,319 37,346 20,062 49,491 4,489 11,446 29,849 62,563 1,006 l4,6l0 14,326 35,012 3,349 10,705 14,430 30,841 762 9,067 4l,9l8 101,894 1,429 25,642 10,764 27,649 521 8,191 7,002 17,586 1,073 5,441 12,598 25,960 1,137 7,928 17,046 33,847 1,307 7,486 38,355 71,275 2,140 16,071 5,664,024 950,626 1556,282 862,030 973,008 3111,932 720,884 449,700 938,601 967,931 2717,992 49,260,325 2715/781 12,115^696 2940,736 4303,243 3109,431 2568,172 0705,366 2067,726 1069,062 2120,700 1030,758 5705,566 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 27,543 164,519 50,460,050 44,508 2,432 10,586 2787,393 12,447,541 3026,224 4411,271 3172,823 2623,272 8876,2492114,851 1100,164 2176,411 1890,444 5833,407 2,620 1,954 6,216 1,687 3,197 4,04l 2,264 59 245 FEDERAL RESERVE AGENTS' ACCOUNTS 6,147,946 1833,465 2515,709 2025,233 1362,366 5131,l84 1235,947 2/ 12,806 F. R. notes outstanding 26,925,801 1601,334 Collat. for F. R. notes: 640,000 2 870,000 725,000 1070,000 845,000 500,000 2200,000 450,000 Gold certificate acct. 11,513 ,000 101,6l0 ----44,630 Eligible paper 211,365 3 600.000 1200,000 1500,000 1250,000 1000,000 3000,000 900.000 U. S. Govt, securities 16,935 ,000 1200,000 Total collateral 28,659,365 1840.000 "6.470.000 2026.610 2570.000 2095.000 1500.000 5200.000 1194.610 l/ After deducting $231,336,000 participations of other Federal Reserve Banks. 2/ After deducting $31,702,000 participations of other Federal Reserve Banks. 1,110 565,325 1056,563 2,264 4,662 724,497 2726,232 150,000 280,000 283,000 1500,000 -65,125 460,000 800,000 610.000 1145.125 525,000 1500,000 OOO.OOO 3000,000,
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