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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 19, 1955 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 reserve balances f o r the week ending May 18.decreased $67 million to $18,853 million. The principal changes decreasing reserves were increases of $54 million in Foreign deposits with Federal Reserve Banks, $30 million in Treasury deposits with Federal Reserve Banks, $18 million in Money in c i r c u l a t i o n , and $10 million in Treasury cash holdings, and a decrease of $16 million in Reserve Bank c r e d i t . The principal o f f s e t t i n g change was a decrease of $65 million in Other deposits with Federal Reserve Banks. Estimated average excess reserves of member banks for the week decreased $74 million to $660 million. The decrease of $16 million in average Reserve Bank credit f o r the week resulted principally from decreases of $114 million in U. S, Government s e c u r i t i e s held under repurchase agreement, $38 million in U. S. Government s e c u r i t i e s bought outright, and $53 million in Member bank borrowings, and an increase of $192 million in Float. At the end of the week, May 18, holdings of U. S. Government s e c u r i t i e s bought outright were $90 million lower than a week e a r l i e r , U. S. Government s e c u r i t i e s held under repurchase agreement were $56 million lower, and Member bank borrowings were $36 million lower. Holdings of c e r t i f i c a t e s decreased $1,687 million and notes increased a l i k e amount, r e f l e c t i n g the exchange of maturing c e r t i f i c a t e s f o r the new issue of 15-month notes. Member Bank Reserves, Reserve Bank Credit, and Related Items Reserve Bank credit: U. S. Government s e c u r i t i e s - 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 Change from Week Ending Week Ending May 18, 1955 May 11. 1955 May 19, 1954 (In mji l l i o n s of dollars) 23,664 23 15 - 38 -114 236 81 888 24,908 21,672 4,999 51,579 - 53 - 4 +192 - 16 + 1 Money in c i r c u l a t i o n 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) 29,877 821 310 417 377 924 32,726 + + + + + + 18 10 30 54 65 4 51 +108 -17 -241 -115 - 34 + 62 -236 Member bank reserve balances - Required reserves (estimated) Excess reserves (estimated) 18,853 18:193 660 - 67 + 7 - 74 -653 -592 - 61 - - — - 16 -976 + 4 + 15 +116 + 57 +149 -634 -293 + 44 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: Treasury cash holdings 825 Gold stock 21,673 Member bank) Required ( e s t . ) 18,287 Treasury currency outstanding 4,999 reserves ) - Excess (est.) 592 Money in circulation 29,826 On May 18, 1955, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $3,207 million, an increase of $39 million f o r the week and an increase of $244 million from the comparable date a year ago. H.U.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 11, May 19, 1954 1955 May 18, 1955 ASSETS Gold c e r t i f i c a t e s Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves F. R. notes of other Banks " Other cash Discounts and advances Industrial loans Acceptances—Bought outright U. S. Government s e c u r i t i e s : Bought o u t r i g h t - Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 20,138,103 + 851,845 20,989,948 203,026 363,171 324,181 633 13,894 - 291,007 + 62,447 6,579 + 146,785 723 + 13,894 89,500 -1,686,366 +1,686,366 -1,074,925 +1,673,984 -1,383,184 + + - 891,050 8,273,775 11,645,837 2,801,750 23,612,412 — — - - 23,612,412 Total loans and s e c u r i t i e s Due from foreign banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 1 329 328 1,952 2,217 40,778 9 311 - 89,500 55,672 145,172 - 186,270 - - 278,996 12,011 - 290,800 -1,074,925 — -1,074,925 - 914,969 23,951,120 22 4,837,122 56,419 150,687 50,551,515 + 874,345 + 408 13,039 + + 780,077 + 2,946 19,537 25,535,111 7,579 + 123,225 18,879,281 391,719 407,223 307,346 19,985,569 3,886,707 17,778 49,425,165 + 201,967 + 565,847 - , 915 + 673,659 293,209 1,005 27,543 144,697 50,551,515 + + + 4,621 + 679,265 - 386,622 46.1# .1$ + .3# 306 + + 12,855 1,197 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank--reserve accounts U. S. Treasurer--general account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid i n Surplus (Section 7) Surplus (Section 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS + + - 8,483 18,896 113,040 + 116,306 660,901 Ratio of gold c e r t i f i c a t e reserves to deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased for foreign correspondents Industrial loan commitments -- - - 26,527 .. 3,502. + + 87 - - 8o6,864 26,447 125,743 82,819 -1,041,873 + 491,949 - - 2,522 429,221 21,710 35,888 14,999 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY l 8 , 1955 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days l 6 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 247,259 36,922 40,000 324,l8l Industrial loans 15 338 134 146 633 Acceptances 5,553 8,341 13,894 U. S. Government securities 204,900 6,439,849 10,765,699 3,773,493 1,013,614 __ ,1,414,857 23,612,412 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 18, 1955 (In thousands of dollars) H.4.1(b) Total gold c e r t i f i c a t e reserves F.R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances-Bought outright U. S. Govt, s e c u r i t i e s : Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Government securities " Due from foreign banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS Boston 20,138,103 985,072 851,845 51,351 20,989,948 1036,423 203,026 363,171 324,181 633 9,872 28,123 16,360 New York Phila. Rich. 5,823,817 1191,327 1679,999 1099,527 175,050 54,614 73,788 71,288 5,998,867 1245,941 1753,787 1170,815 43,479 87,107 41,995 6,216 15,546 32,505 546 13,894 13,894 Cleve. 10,963 37,934 14,970 8,220 17,515 24,515 Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas CO Gold c e r t i f i c a t e s Redemption fund for F. R. notes Total I ASSETS 807,098 3581,413 763,896 346,595 830,332 155,758 46,183 24,278 41,032 859,005 3737,171 810,079 370,873 871,364 8,154 17,736 27,840 3,076 10,112 10,602 14,426 8,610 22,231 40,150 5,560 12,190 35,331 — — -- - - - - - - 51,907 58,089 32,262 33,515 16,559 54,291 47,350 —- 28,088 78,501 755,818 2379,80: 35,92! U,o4< 891,050 49,207 8,273,775 456,911 11,645,837 643,130 2,801,750 154,724 23,612,412 1303,972 54,232 226,455 2,102,739 503,558 2,959,731 708,789 712,051 170,520 6,000,976 1437,099 52,495 45,993 155,423 487,442 427,076 1443,170 1000,878 686,103 601,135 2031,348 240,791 165,062 144,621 488,701 2029,322 1391,102 1218,825 4118,642 36,977 343,345 483,279 23,612,412 1303,972 6,000,976 1437,099 2029,322 1391,102 1218,825 4118,642 979,868 23,951,120 1320,332 6,056,865 1470,150 2044,292 1415,617 1242,340 4165,992 1007,708 612,437 1062,235 955,420 2597,73: 22 4,837,122 56,419 150,687 1 378,820 5,823 7,983 1/6 903,987 7,a*r 2 285,110 5,229 8,776 36,520 76,580 87 727,730 2301,29' 711,073 2 454,004 5,325 12,754 1 382,910 4,436 8,799 21,594 38,752 200,497 359,827 282,214 506,477 116,267 67,895 121,848 979,868 572,200 1026,904 97,61: 35,729 331,762 906,37: 466,975 1275,771 112,344 306,921 572,200 1026,904 946,810 2586,69; 1 1 3 348,385 788,519 202,873 2,810 4,180 6,207 6,472 8,219 27,229 1 121,932 1,106 3,587 1 242,464 3,128 6,625 946,810 2586,69: 1 247,412 480,701 9,60! 1,423 16,46 7,257 50,551,515 2787,377 13,133,978 3036,970 4319,06l 3008,313 2552,481 8795,971 2055,833 1123,124 2203,567 1992,359 55*2,48 1 / After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 18, 1955 (in thousands of d o l l a r s ) 3.4.1(c) L I A B I L I T I E S Federal Reserve notes Total Boston 25,535,111 1562,540 Member bank-reserve a c c t s . 18,879,281 U.S.Treasurer-general a c c t . 391,719 Foreign 407,223 Other 307,346 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy, Dallas SanFran, 5,737,765 1794,034 2352,716 1827,690 1284,600 4975,849 1154,833 567,612 1022,413 706,683 2548,376 989,235 2450,806 510 1,573 18,565 40,710 1,236 42,913 789,963 5,678,070 526 384,532 23,700 1/ 127,538 2,536 229,446 895,251 1439,701 736 579 28,835 35,945 9,358 4,330 782,480 527 19,750 2,473 897,782 2956,189 593 578 16,985 55,300 1,257 3,067 673,141 506 15,010 6,799 407,454 537 9,875 1,165 919,209 522 15,010 2,766 934,180 1480,555 225,917 381,824 805,230 314,945 916,617 3015,134 299,183 643,773 695,456 160,127 419,031 106,296 937,507 1009,546 2536,002 198,627 221,742 3 4 0 , l 6 l 624 495 Total deposits Deferred a v a i l , cash items Other l i a b i l i t i e s and accrued dividends 19,985,569 3,886,707 816,725 339,023 6,419,586 655,089 17,778 1,004 4,812 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,425,165 2719,292 12,817,252 2955,103 4217,054 2948,759 2501,277 8637,588 2011,040 1093,434 2159,208 1938,925 5426,233 293,209 15,233 88,620 19,450 27,897 13,258 12,886 38,991 10,237 6*629 11,289 15,428 33,291 660,901 40,309 188,070 47,773 60,222 33,480 29,480 96,566 26,619 16,918 24,755 29,985 66,724 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1*137 1*307 2,l4o 21,397 7>4l6 5>070 7,178 6,714 14^0^3 144,697 9,532 32,717 10,155 12,882 9,467 8,076 „ , , , ,„ • 50,551,515 2787,377 13,133,978 3036,970 4319,061 3008,313 2552,481 8795,971 2055,833 1123,124 2203,567 1992,359 5542,481 Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l loan commitments 26,527 3,502 1,584 -- 2/7,836 — 972 1,927 314 1,959 2,403 627 894 1,320 33 877 1,135 94 2,832 , „ 3,696 14 1,003 -- ,. 660 ~™ 661 1,003 2,420 954 , 1,241 1,694 2,719 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding C o l l a t e r a l f o r F.R. notes: Gold c e r t i f i c a t e s E l i g i b l e paper U. S. Govt, s e c u r i t i e s Total c o l l a t e r a l 26,443,991 1615,182 5,932,890 1855,208 2475,663 1885,250 1348,461 5068,042 1200,569 601,028 1050,463 749,860 2661,375 11,008,000 640,000 153,981 11,560 17,155,000 1200,000 28,316,981 1851,560 2,670,000 800,000 1050,000 675,000 500,000 2200,000 355,000 -26,665 — 20,515 — " 24,800 3,60Q,000 1200,000 1500,000 1300,000 1000,000 3000,000 910,000 6,270,000 2026,665 2550,000 1995,515 1500,000 5200,000 1289,800 175,000 280,000 38,150 32,291 500,000 800,000 713,150 1112,291 283,000 1380,000 -— 525,000 1620,000 808,000 3000,000 1 / A f t e r deducting $279,660,000 participations of other Federal Reserve Banks. 2 / A f t e r deducting $18,691,000 participations of other Federal Reserve Banks.
@FedFRASER