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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release October 11, 1956 WEEKLY AVERAGES OF MEMBER BANK 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 10 decreased $6 million to $18,929 million. Estimated required reserves decreased $123 million; and estimated excess reserves increased $117 million to $634 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $223 million, compared with $293 million the week before. The principal changes reducing average reserves were a decrease of $77 million in Federal Reserve float, and increases of $113 million in money in circulation and $80 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $143 million in Federal Reserve holdings of U. S. Government securities, $47 million in member bank borrowings, and $22 million in gold stock, and a decrease of $62 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $114 million. As of bought outright securities held borrowings were Wednesday, October 10, holdings of U. S. Government securities were $l8l million higher than a week earlier, U. S. Government under repurchase agreement were $50 million lower, and member bank $396 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 Change from week ending For week ending Oct. 10, 1956 Oct. 3, 19561 Oct. 12, 1955 (In millions of dollars) 23,766 74 +164 - 21 - 26 - 45 19 + 2 + * + - 857 1 990 25,707 21,906 5,046 52,658 + 47 +135 - 36 - 15 +116 - 7 +222 + 39 +253 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) 30,880 770 489 405 227 958 33,729 +113 - 8 - 62 + 80 + 13 + t5 +142 +328 - 18 - 25 + 22 -202 - 53 + 52 Member bank reserves— Required reserves (estimated) Excess reserves (estimated) * Less than $500,000 18,929 18,295 634 6 -123 +117 +201 +120 + 81 * -,77 +n4 + 22 - - 1 1 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 21,910 Treasury cash holdings 776 Treasury currency outstanding 5,046 Member bank) - Required (est.) 18,277 Money in circulation 30,932 reserves ) - Excess (est.) 311 On October 10, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,720 million, a decrease of $6 million fop the week and an increase of $249 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. 12, Oct. 3, 1956 1955 Oct. 10, 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 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 25,001 20,373,394 850,107 21,223,501 314,762 341,287 579,061 915 3,343 21,658 34,513 21,815 396,387 11 + + + + + + 210,043 13,306 223,349 91,744 9,037 303,027 243 18,951 1,000 + 744 411 944,970 10,932,699 9,153,913 2,801,750 23,833,332 32,000 23,865,332 + 24,464,259 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 180,700 50,000 130,700 - 39^76 87,900 127,576 - 264/698 - 430,027 - 232,052 + 10,786 - 520,523 + +_ + 26,631,875 + 84,481 + 369,373 18,588,492 425,453 303,217 296,992 19,614,154 - 400,953 - 121,246 74,569 + 98,978 - 497,790 - 119,243 ± M&8 -530,604 + + 57,582 76,990 82,067 365,441 582,080 126,752 241 263 + + 21,503 32,711 3,561,662 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 206,676 +8,412,623 -8,245,623 4,421,989 71,041 295,078 51,131,939 • 19,885 49,827,576 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 180,700 + 319,870 693,612 27,543 263,338 51,131,939 - 45.9# + 53,092 2,402 + 111 9,818 520,523 5,141 14 +_ + + 32,785 11,680 is 24,838 411 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 10, 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 573,006 6,055 579,061 Industrial loans 1 59 556 299 915 Acceptances 7,534 11,417 16,951 U. S. Government securities 216,000 6,681,669 14,165,913 373,279 1,013,614 1,414,857 23,865,332 a.4.i(b) Total A S S E T S Gold certificate account "Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER 10, 1956 Phila- Cleve St. Boston New York Richmond Atlanta Chicago delphla land Louis (in thousands of dollars) 20,373,394 1007,636 850,107 58,031 21,223,501 1065,667 5,259,758 1092,509 1827,997 1368,301 183,000 59,798 75,554 66,548 5,442,758 1152,307 1903,551 1434,849 868,360 3692,107 853,498 50,014 Minneapoljs Kansas City 345,221 818,638 695,505 2543,864 152,815 42,336 23,099 42,029 918,374 3844,922 895,834 368,320 860,667 Dallas 25,531 San Francisco 71,352 721,036 2615,216 F.R. notes of other Banks Other cash 314,762 341,287 29,566 25,546 56,883 77,473 46,469 21,049 11,246 32,873 15,527 17,546 43,723 27,403 21,833 44,263 8,997 19,562 14,986 9,318 9,475 11,141 19,491 13,386 36,566 41,727 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 579,061 915 9,975 300 203,200 4,075 569 79,800 12,030 45,872 121,830 11,900 12,775 46 33,686 30,468 13,450 56,784 237,827 81,733 58,181 48,590 2,751,520 656,957 945,602 673,115 562,148 2,303,839 550,068 791,749 563,597 470,685 705,139 168.360 242.332 172.501 144.063 5,998,325 1432,169 2061,416 1467,394 1225,486 164,870 1907,450 1597,102 488.827 4158,249 39,453 456,440 382,176 116.971 995,042 18,951 18,951 944,970 51,941 10,932,699 600,927 9,153,913 503,154 2.801.750 154,001 23,833,332 1310,023 .32,000 . ^000 ** -- 21,345 40,945 37,557 105,744 246,937 473,714 434,509 1223,380 206,759 396,639 363,813 1024,332 61.281 121.400 111.151 311.518 538,324 1032,698 947,232 2666,974 «»«» — Total U. S. Govt, sees. 23,865,332 1310,023 6,030,325 1432,169 2061,416 1467,394 1225,486 4158,249 995,042 538,324 1032,698 947,232 2666,974 Total loans & securities 24,464,259 1320,298 6,252,476 1436,813 2141,216 1479,424 1271,358 4280,079 1006,942 551,145 1066,384 977,700 2680,424 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1/ After deducting $16,000 22 1 4,421,989 332,310 71,041 5,352 295.078 16.047 1/ 6 768,275 8,825 72.781 2 272,347 4,849 17.230 2 388,035 7,534 25.6l4 1 366,733 7,179 17.881 1 3 1 1 346,975 717,362 208,077 130,485 3,975 5,916 4,151 4,608 15.888 53.180 12.007 6.606 1 226,702 4,194 12.432 1 2 218,412 446,276 3,434 11,024 12.408 12.984 51,131,939 2794,787 12,679,477 2951,066 4510,091 3339,140 2627,697 8967,558 2155,571 1085,469 2190,996 1965,868 5864,219 participations of other Federal Reserve Banks. H,4. 1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 10, 1956 Total Boston New York | d ^ ; Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 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. 26,631,875 1581,510 18,588,492 425,453 303,217 296,992 19,614,154 L ^ s /^is ^ t " Dallas FranSsco 3,561,662 6,125,933 1722,259 2489,802 2090,474 1324,496 5145,373 1183,223 496,766 1054,895 717,097 2700,047 812,557 5,260,562 881,944 1518,015 25,885 56,753 29,298 26,651 17,228 1/ 94,704 21,024 26,572 4,838 "" 217,971 10,030 951 860,508 5,629,990 942,296 1572,189 812,672 894,458 2967,160 710,147 416,654 854,430 946,532 2513,361 47,120 31,609 53,132 22,835 20,125 38,258 32,016 41,771 14,892 12,848 40,880 11,096 7,300 11,096 14,892 30,685 3,734 1,719 1,298 7,610 740 1,380 1,044 45,677 878,418 940,634 3062,470 751,688 444,819 905,164 994,484 2631,494 275,083 299,714 189,503 391,809 1,021 5,486 1,042 2,267 955 868 3,445 686 537 731 762 19,885 49,827,576 2718,122 12,320,252 2858,980 4392,877 3269,561 2567,271 #777,773 2104,390 1052,353 2138,716 1901,846 2,085 5725,435 30,392 62,563 1,006 23,253 14,636 35,012 3,349 16,582 301,273 15,045 30,841 762 13,778 566,485 43,327 101,894 1,429 43,135 168,793 10,973 27,649 521 12,038 110,231 3,823 4,832 2,708 2,336 7,434 2,018 26 145 •• —— 103 -— FEDERAL RESERVE AGENTS' ACCOUNTS 6,366,010 1799,131 2555,924 2131,201 1372,070 5242,674 1224,680 7,101 17,586 1,073 7,356 177,926 5864,219 2/ 15,179 —- 20,474 49,491 4,489 17,632 328,619 51,131,939 2794,787 12,679,477 2951,066 4510,091 3339,140 2627,697 8967,558 2155,571 1085,469 2190,996 1965,868 3,133 —— 92,113 195,827 7,319 63,966 193,383 38,791 71,275 2,140 26,578 53,092 2,402 16,402 41,667 3,011 15,585 558,843 17,734 33,847 1,307 11,134 319,870 693,612 27,543 263,338 F, R. notes outstanding 27,521,754 1630,895 Collat. for F. R. notes: Gold certificate acct. 11,568,000 580,000 Eligible paper —— 49,661 B. S. Govt, securities 17,135,000 1200,000 Total collateral 28,752,661 1780,000 1/ After deducting $208,488,000 participations 2/ After deducting $37,913,000 participations Chicago (In thousands of dollars) 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 Richmond Atlanta 1,328 —— 12,882 25,960 1,137 12,301 2,018 2,128 2,708 5,575 —— 548,201 1002,035 755,700 2813,233 2,870,000 650,000 1090,000 895,000 500,000 2300,000 450,000 150,000 300,000 283,000 —— 11,900 -* 33,686 -* —— 4,075 *" — *• —* 3,600,000 1200,000 1550,000 1300,000 100C;000 3100,000 900,000 460,000 800,000 525,000 6,470,000 1854,075 2640,000 2195,000 1500,000 5400,000 1361,900 610,000 1133,686 808,000 of other Federal Reserve Banks. of other Federal Reserve Banks. 1500,000 1500,000 3000,000
@FedFRASER