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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release November 1, 1956 WEEKLY AVERAGES OF MEMBER B A M RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending October 31 decreased $327 million to $18,810 million. Estimated required reserves decreased $114 million; and estimated excess reserves decreased $213 million to $383 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $291 million; the week before they were $32 million less than excess reserves. The principal changes reducing average reserves were decreases of $485 million in Federal Reserve float and $28 million in Federal Reserve holdings of U. S. Government securities, and an increase of $34 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $110 million in member bank borrowings and a decrease of $70 million in money in circulation. Total Reserve Bank credit decreased $400 million. As of bought outright securities held borrowings were Wednesday, October 31; holdings of U. S. Government securities were $5 million higher than a week earlier, U. S. Government under repurchase agreement were $79 million higher, and member bank $300 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 Held under repurchase agreement Loans, discounts, and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures For week ending Change from week ending Oct. 31, 1956 Oct. 24, 1956 I Nov. 2, 1955 (In millions of dollars) 23,668 40 19 1 - 68 + 40 «• ee + 1 -327 + 40 + + 2 1 +110 -269 -485 -4oo + 3 -398 +269 -282 +223 + 42 - 17 30,794^n 78^0 539 285 292 925 33,616 + + + - +266 + 9 + 39 -123 - 93 - 26 + 72 18,810 16,427 383 -327 -lit -213 674 1 1,062 25,466 21,909 5,051 52,426 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) Member bank reserves— Required reserves (estimated) Excess reserves (estimated) 70 4 34 8 1 31 71 - 88 TT - 94 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 21,909 Treasury cash holdings 785 Treasury currency outstanding 5,053 Member bank) - Required (est.) 18,434 Money in circulation 30,830 reserves ) - Excess (est.) 234 On October 31* 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,782 million, an increase of $21 million for the week and an increase of $263 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 Oct. 24, Nov, 2, 1956 1??? Oct. 31, 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 Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,367,391 855,745 21,223,136 331,460 358,965 538,346 867 19,040 870 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + + + + + + 194,040 22,451 216,491 72,684 13,892 646,906 305 1,040 + + 2,158 870 5,000 - 502,526 +8,412,623 -8,245,623 22,247 1,130 300,138 10 + + 870 800,020 10,932,699 9,153,913 2,801,750 23,688,382 79,000 23,767,382 + +_ + 79,000 84,000 5,000 + - 335,526 79.000 256,526 24,326,505 - 214,238 - 900,099 4,750,928 71,821 327,897 51,390,734 - 136,355 35 11,29; 363,49 + + + - 282,619 22 + - 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 26,567,092 31,658 18,667,677 494,781 275,140 ^869 19,734,467 3,840,981 20,545 50,163,085 265,201 111,696 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 320,370 693,612 27,543 186,124 51,390,734 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + - - 12,234 161,752 140,427 + 332,868 - 482,910 40,68l 111,741 + + - 720,544 164,404 1,157 222,115 121 + + 21,042 32,711 96,369 363,494 + - 27,935 140,427 1,589 1,065 379,551 80,987 340 267,246 45.8% .3# 52,694 721 2,236 198 - - 85,212 25,559 509 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 31, 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 Overfor 10 years Digitized FRASER Total Discounts and advances 534,694 3,652 538,346 Industrial loans 1 65 512 289 m Acceptances 6,612 13,298 19,910 U. S. Government securities 220,020 6,579,699 14,165,913 373,279 1,013,614 1,414,857 23,767,382 H.4.1(b) Total A S S E T S STATEMENT OF C0NDIT3CON OF EACH FEDERA] RESERVE BANK ON OCTOBER 31L, 1956 St. Phila- CleveBoston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Gold certificate. account 20,367,391 963,742 Redemption fund for 855,745 F. R. notes 57,738 Total gold certificate reserves 21,223,136 1021,480 5,438,568 1049,456 1905,079 1334,498 181,782 59,316 75,079 75,097 5,620,350 1108,772 1980,158 1409,595 826,868 3618,957 49,776 821,497 Minneapolis Kansas City 365,358 812,397 152,273 42,191 23,056 41,916 876,644 3771,230 863,688 388,414 854,313 Dallas San Francisco 699,881 2531,090 26,435 71,086 726,316 2602,176 F.R. notes of other Banks Other cash 331,460 358,965 29,344 26,764 60,232 83,118 53,558 23,712 17,420 34,430 14,506 17,632 47,955 26,907 25,666 45,592 10,293 21,398 14,193 9,037 6,581 11,769 19,584 16,201 32,128 42,405 Discounts and advances Industrial loans Acceptances: Bought outright Held under rep. agree. U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 538,346 867 18,365 300 38,725 41,365 522 21,010 37,710 59,532 196,605 21,225 13,150 45 34,209 29,750 26,700 19,040 870 800,020 10,932,699 9,153,913 2.801.750 23,688,382 79.000 - - — - - — — - - — - - 19,040 870 201,347 43,974 48,073 69,196 49,257 41,137 600,927 2,751,520 656,957 945,602 673,115 562,148 503,154 2,303,839 550,068 791,749 563,597 470,685 154.001 705,139 168.360 242.332 172.501 144.063 1302,056 5,961,845 1423,458 2048,879 1458,470 1218,033 139,580 1907,450 1597,102 488.827 4132,959 33,401 456,440 382,176 116.971 988,990 18,070 34,665 246,937 473,714 206,759 396,639 63.283 121.400 535,049 1026,418 31,796 89,524 434,509 1223,380 363,813 1024,332 111.353 313.518 941,471 2650,754 Total U. S. Govt, sees. 23,767,382 1302.056 6.040.845 1423.458 2048.879 1458.470 1218.033 4132.959 988.990 535.049 1026.418 941.471 2650.754 Total loans & securities 24,326,505 1320,721 6,099,480 1465,345 2069,889 1496,180 1277,565 4329,564 1010,215 548,244 1060,627 971,221 2677,454 1 1 3 1 1 1 365,541 329,286 787,821 216,136 126,080 221,521 7,171 3,963 5,897 4,177 4,721 4,249 19,820 17,606 59,667 13,390 7,275 13,886 1 2 230,226 451,870 3,57? 11,026 13,714 36,447 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1/ After deducting 22 4,750,928 71,821 327,897 1 398,618 5,346 17,793 1/ 6 868,031 8,990 80,789 2 292,435 4,826 19,275 2 463,363 7,876 28,235 51,390,734 2820,067 12,820,996 2967,925 4601,373 3330,446 2579,927 9025,440 2139,298 1097,965 2172,947 1980,842 5853,508 $16,000 participations of other Federal Reserve Banks. 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 C0NDIT1CON OF EACH FEDERA] RESERVE BANK ON OCTOBER 31L, 1956 St. Phila- CleveChicago Atlanta Richmond New York Boston Louis delphia land (In thousands of dollars) 26,567,092 1562,637 18,667,677 494,781 275,1^0 296,869 19,734,467 811,590 37,211 15,753 3,385 867,939 3,840,981 315,995 Minneapolis Kansas City Dallas San Francisco 6,109,110 1714,332 2488,252 2108,300 1321,636 5137,780 1185,097 492,482 1050,796 713,155 5,314,704 877,478 1559,457 805,861 36,107 88,344 39,766 45,104 13,617 19,224 24,297 1/ 84,477 2,581 9,893 1,659 " 207,507 5,695,032 946,361 1630,517 858,166 873,050 2985,621 675,443 29,639 58,070 34,627 11,748 37,380 10,146 3,368 1,677 10,385 917,805 3082,748 730,601 432,458 25,301 6,675 1,855 466,289 841,581 948,381 2542,053 39,672 39,062 21,878 10,146 13,617 28,060 3,800 3,960 46,799 895,199 1005,020 2638,790 282,522 626,311 107,138 177,449 673,528 219,254 369,980 298,243 174,840 2683,515 200,056 395,665 wu y\j*t 3,644 r .. vmw 960 5,461 1,055 2,324 888 964 698 534 743 686 20,545 50,163,085 2747,531 12,403,131 2881,002 4491,073 3265,597 2522,927 8850,483 2091,236 1066,443 2124,187 1918,917 * 2,588 5720,558 CAPITAL ACCOUNTS ^Capital paid in Smqilus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Costing, liab. on acceptances purchased for foreign correspondents 17,755 33,847 1,307 9,016 38,807 71,275 2,l4o 20,728 51,390,734 2820,067 12,820,996 2967,925 4601,373 3330,446 2579,927 9025,440 2139,298 1097,965 2172,947 1980,842 5853,508 320,370 693,612 27,543 186,124 16,404 41,667 3,011 11,454 20,473 49,491 4,489 12,470 30,434 62,563 1,006 16,297 14,651 35,012 3,349 11.837 15,316 30,841 762 10,081 43,351 101,894 1,429 28,283 10,979 27,649 521 8,913 2,688 2,319 7,377 2,003 4,796 140 FEDERAL RESERVE AGENTS* ACCOUNTS 1628,187 6,355,572 1796,882 2544,420 2155,033 1375,190 5248,926 1239,246 27,543,767 52,694 3,109 F.~TR. notes outstanding Collat. for F. R. notes: Gold certificate acct. 11,568,000 580,000 Eligible paper —— 83,799 U. S. Govt, securities 17,135,000 1200,000 Total collateral 28.786.799 1780.000 l/ After deducting $190,638,000 participations 2/ After deducting $37,627,000 participations 92,201 195,827 7,319 42,518 7,106 17,586 1,073 5,757 2,687 5,533 546,495 1080,167 758,673 2814,976 2,870,000 650,000 1090,000 895,000 500,000 2300,000 450,000 150,000 300,000 283,000 —— 28,365 —— —— —— —— 21,225 —— 34,209 —— 3,600,000 1200,000 1550,000 1300,000 1000,000 3100,000 900,000 460,000 800,000 525,000 6.470.000 1878.365 2640.000 2195.000 1500.000 5400.000 1171.225 610,000 1134,209 808,000 of other Federal Reserve Banks. of other Federal Reserve Banks. 1500,000 —— 1500,000 3000,000 2/ 15,067 3,794 1,318 12,893 25,960 1,137 8,770 2,003
@FedFRASER