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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 17, 1956 WEEKLY AVERAGES OF MEMBER B A M RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending May 16 decreased $138 million to $18,710 million. Estimated required reserves decreased $45 million; and estimated excess reserves decreased $93 million to ^453 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $613 million, compared with $568 million the week before. The principal, changes reducing reserves were decreases of $73 million in Federal Reserve holdings of U. S. Government securities and $48 million in member bank borrowings, and increases of $63 million in money in circulation and $44 million in foreign deposits with Federal Reserve Banks. The principal offsetting change was an increases of $93 million in Federal Reserve float. Total Reserve Bank credit decreased $27 million. As of Wednesday, May 16, holdings of U. S. Government securities bought outright were $27 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $51 million higher, and member bank borrowings were $3^7 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 May 16, 1956 May 9, 1956 jMay 18, 1955 (In millions of dollars) 23,226 53 15 - 26 - 47 + 1 -438 + 30 1,066 1 937 25,298 21,769 5,026 52,093 - 48 + 93 - 27 + 1 + 1 - 25 +830 - 80 + 49 +390 + 97 + 27 +5l4 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) 30,359 789 563 378 314 980 33,383 + 63 + 8 + 8 + 44 - 7 - 2 +113 +482 - 32 +253 - 39 - 63 + 56 +657 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,710 18,257 453 -138 - 45 - 93 -143 + 50 -193 — — — 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 21,769 Treasury cash holdings 786 Treasury currency outstanding 5,027 Member bank) - Required (est.) ^8 284 # Money in circulation 30,322 reserves ) - Excess (est.) 193 On May 16, 1956, U. S. Government securities held is custody by the Federal Reserve Banks for foreign account were $3,722 million, a decrease of $16 million for the week and an increase of $515 million from the comparable date a year ago. H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 18, May 9, 1956 1955 May 16, 1956 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. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 336,470 10,932,699 9,153,913 2,801,750 23,224,832 71,650 23,296,482 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 23,967,610 22 5,515,459 66,283 182,131 51,461,572 26,042,276 + 18,477,280 564,237 338,286 312,145 19,691,948 4,500,309 139,660 + 66,014 + 2,700 10,331 til,277 +1,063,739 180 + 992,897 20,249,988 838,389 21,088,377 276,100 365,590 655,830 953 14,345 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 18,689 50,253,222 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 314,439 693,612 27,543 172,756 51,461,572 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + - + + + - 9,002 2,8o4 6,19ti 5,292 2,734 347,236 15 - - . 27,000 -- - + - + + + + + + 111,885 13,456 98,429 73,074 2,419 331,649 320 451 . 554,580 +2,658,924 -2,491,924 - • - - 27,000 51,050 24,050 + 323,201 + 16,490 +1,301,231 + 765 + 8,503 +1 ,001,522 + + + + 678,337 9,864 31,444 910,057 10,615 + 507,165 - + + - - • 387,580 71,650 315,930 -- • 388 + + + 402,001 172,518 68,937 4,799 293,621 613,602 911 828,057 + + 21,230 32,711 • + * + - + - - m-mm + 8,237 4-1,001,522 46.1# + .1# 45,842 2.445 + + 1,334 13 + + 28,059 910,057 + 19,315 1,057 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY l6, 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 643,463 12,325 39 655,830 Industrial loans 364 69 151 369 953 Acceptances 5,676 8,669 14,345 U. S. Government securities 239,720 168,400 19,372,764 1,087,127 1,013,614 1,414,857 23,296,482 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY l6, 1956 Total Boston New York Philadelphia CleveRichmond Atlanta Chicago land St. Louis Minneapolis Kansas City Dallas San Francisco ASSETS Gold certificate account 20,249,988 985,056 5,290,450 1134,685 1850,944 1243,066 886,858 3677,213 834,689 •348;589 823,536 674,983 2499,979 Redemption fund for F. R. notes 838,389 51,193 171,484 57,701 74,148 68,060 51,834 156,544 43,462 . 83,421 40,886 26,199 73,457 Total gold certificate reserves 21,088,377 1036,249 5,461,934 1192,386 1925,092 1311,126 938,692 3833,757 878,151 371,950 864,422 701,182 2573,436 F.R. notes of other Banks Other cash 276,100 365,590 13,431 28,855 62,441 94,090 24,067 15,968 12,833 28,239 20,273 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 655,830 953 36,190 300 25,870 67,480 600 74,760 14,719 Total U. S. Govt, sees. 14,345 14,345 336,470 18,494 84,681 10,932,699 600,927 2,751,520 503,154 2,303,839 9,153,913 2,801,750 154,001 705,139 23,224,832 1276,576 5,845,179 71,650 71,650 - - - - 20,218 29,102 656,957 945,602 550,068 791,749 168,360 242,332 13957603 2008,785 mm •» 18,831 60,186 19,715 26,784 55,997 10,413 22,445 6,560 8,809 10,969 11,186 16,137 28,687 43,277 173,725 29,055 64,740 53 74,064 36,950 15,000 - - 20,717 673,115 563,597 172,501 1429,930 «* — - - - - 17,302 58,704 14,048 7,600 562,148 1907,450 456,440 246,937 470,685 1597,102 382,176 206,759 144,063 488,827 116,973 63,283 1194,198 4052,083 969,637 524,579 mm mm 6,308 - - 14,579 473,714 396,639 121,400 1006,332 38,466 -- 37,652 13,373 434,509 1223,380 363,813 1024,332 111,353 313,518 923,048 2598,882 mm mm- 23,296,482 1276,576 5,916,829 1395,603 2008,785 1429,930 1194,198 4052,083 969,637 524,579 1006,332 923,048 2598,882 Total loans & securities 23,967,610 1313,066 5,957,044 1463,683 2083,545 1444,649 1237,475 4225,808 998,692 589,372 1080,396 959,998 2613,882 Due from foreign "banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 5,515,459 66,283 182,131 1 1/6 2 396,652 1,0157049 344,199 4,960 5,515 8,328 9,362 42,416 10,264 2 1 1 1 1 1 1 3 447,714 559,828 429,818 906,374 224,988 135,405 246,402 263,876 4,031 6,007 6,530 6,377 2,522 3,857 3,915 3,557 15,088 10,668 9,881 32,636 7,448 8,491 3,893 7,057 51,461,572 2803,13112,641,308 3055,529 4631,157 3259,639 2706,868 9080,297 2145,304 1119,847 2219,861 1963,393 5835,238 l/ After deducting $16,000 participations of other Federal Reserve Banks* 2 545,154 10,684 24,927 H.4.1(c) Total 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY l6, 1956 (In thousands of dollars) Phila- CleveSt. Boston New York | d e l p h i a Richmond Atlanta Chicago L o u i s land Minneapolis 26,042,276 1555,157 5,936,194 1752,462 2431,323 1970,452 1305,247 5059,140 1189,623 18,477,280 564,237 338,286 312,145 19,691,948 Kansas City Dallas San Francisco 519,007 1030,840 681,656 2611,175 766,039 5,200,845 874,226 1515,470 804,712 918,150 3020,484 670,947 404,701 883,810 929,513 2488,383 45,870 87,452 34,144 53,591 37,672 48,271 53,180 35,375 34,040 43,069 47,336 44,237 8,300 12,616 16,932 34,885 19,588 1/101,213 23,904 30,212 16,932 14,608 46,480 12,616 3,047 239,901 9,283 914 2,420 1,548 1,066 6,232 622 4,497 1,026 41,589 834,544 5,629,411 941,557 1600,187 861,736 982,577 3121,210 725,170 447,663 943,992 994,807 2609,094 736,299 274,621 489,021 362,756 4,500,309 340,235 18,689 1,160 5,369 878 1,900 8e6 314,439 693,612 27,543 172,756 16,350 41,667 91,362 195,827 20,062 49,491 29,846 62,563 14,337 35,012 11,007 39,527 11,969 15,311 11,171 362,633 724,078 182,557 121,350 196,429 225,933 484,397 872 3,410 558 534 650 895 1,637 l4,46o 41,920 30,841 101,894 10,764 27,649 7,008 17,586 12,601 25,960 17,l4l 33,847 38,588 71,275 8,462 5,626 8,252 7,807 16,932 50,253,222 2731,096 12,307,273 2969,518 4522,431 3195,770 2651,329 8907,838 2097,908 1088,554 2171,911 1903,291 5706,303 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on accept? ances purchased for foreign correspondents Industrial loan commit. 3,011 4,489 1,006 3,349 762 9,476 1,429 27,216 521 1,073 1,137 1,307 2,l4o 51,461,572 2803,131 12,641,308 3055,529 4631,157 3259,639 2706,868 9080,297 2145,304 1119,847 2219,861 1963,393 5835,238 45,842 2.445 2,702 2/ 13,141 —— F. R. notes outstanding 26,933,704 1603,359 Collat. for F. R. notes: Gold certificate acct. 11,513,000 640,000 Eligible paper 170,569 — — U. S. Govt, securities 16,935,000 1200,000 Total collateral 28,618,569 1840,000 1/ After deducting $237,048,000 participations 2/ After deducting $32,701,000 participations 7,319 —— 3,298 4,168 2,336 2,015 72 2^4 5 —— —» FEDERAL RESERVE AGENTS' ACCOUNTS 6,412 —— 1,740 —— 1,145 —— 1,740 2.128 2,336 —— 4,809 —— 6,146,064 1828,298 2520,838 2023,306 1364,572 5138,721 1232,408 566,199 1056,782 720,016 2733,141 2,870,000 725,000 1070,000 845,000 500,000 2200,000 450,000 150,000 280,000 283,000 1500,000 — — 67,480 ~ —— —— —— 29,055 —— 74,034 — — — 3,600,000 1200,000 1500,000 1250,000 1000,000 3000,000 900,000 460,000 800,000 525,000 1500,000 6,470,000 1992,480 2570,000 2095,000 1500,000 5200,000 1379,055 610,000 1154,034 808.000 3000,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER