H.4.1 Factors Affecting Reserve Balances of Depository Institutions

H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) July 2, 1953' CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 1, Member bank reserves decreased $345 million. The principal changes reducing reserves were increases of $223 million in Money in circulation, $168 million in Treasury deposits with Federal Reserve Banks, and $16 million in Other deposits with Federal Reserve Banks, and decreases of $24 million in Reserve Bank credit and $24 million in Gold stock. The principal offsetting changes were decreases of $94 million in Foreign deposits with Federal Reserve Banks and $11 million in Other F. R. account s(net). The decrease of $24 million in Reserve Bank credit resulted from an increase of $118 million in Float and decreases of $72 million in Loans, discounts and advances, and $71 million in U. S. Government securities bought outright. Holdings of U. S. Government securities bought outright reflected a decrease of $296 million in certificates and an increase of $225 million in bills. The decrease in certificates represented a like amount of special certificates issued to the Federal Reserve Banks. The decrease of $398 million in estimated required reserves of member banks reflected the lower reserve requirements which became effective during the week and which lessened required reserves approximately $311 million. The effect of this reduction on the daily average of estimated required reserves for the week amounted to $44 million. Change since Member Bank Reserves July 1, June 24, July 2 and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 24,766 - 71 +2,002 Held under repurchase agreement -- - 105 -- Loans, discounts and advances 248 - 72 - 237 Float 737 +118 64 Total 25,752 - 24 +1,597 Gold stock 22,463 - 24 - 883 Treasury currency outstanding 4,854 + 3 + 99 Money in circulation 30,152 +223 + 972 Treasury cash holdings 1,269 - 3 8 Treasury deposits with F. R. Banks 176 +168 + 86 Foreign deposits with F. R. Banks 521 - 94 - 55 Other deposits with F. R. Banks 174 + 16 10 Other F. R. accounts (net) 949 - 11 + 151 Member bank reserves 19,828 -345 - 325 Required reserves (estimated) 19,163 -398 - 941 Excess reserves (estimated) 665 + 53 + 616 Daily averages for period-- Estimated excess reserves of member banks 482 -705 113 Member bank borrowings at F. R. Banks 431 +150 309 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,454 million, a decrease of $23 million for the week and an increase of $689 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINE® (in thousands of dollars) Change since July 1, June 25, July 2, 1953 1953 1952 A S S E TS Gold certificates 20,497,103 25,000 - 967,149 Redemption fund for F. R. notes 790,178 451 + 99,552 Total gold certificate reserves. 21,287,281 257551 -55T7597 Other cash ' 312,846 13,148 + 8,042 Discounts and advances 245,174 71,380 - 234,396 Industrial loans 3,099 70 1,852 U. S. Government securities: Bought outright-- Bills 1,474,804 + 225,050 + 1,193,004 Certificates: Special 296,000 Other 4,995,716 - 6,782,500 Notes 13,773,671 + 8,205,598 Bonds 613,848 Total bought outright 24^766^166 70,950 + 2,002725% Held under repurchase agreement - 105,300 Total U. S. Government securities 24,766,166 70,950 + 1,696,954 Total loans and securities ~ 2570157539 142,260 + 1,660,706 Due from foreign banks 23 F. R. notes of other banks 5 152,615 1,436 + 5,620 Uncollected cash items 4,043,306 337,561 + 270,679 Bank premises Other assets 49,805 114 + 4,354 TOTAL ASSETS 99,782 10,070 75,479 50,960,097 507,028 + 1,006,320 L I A B I L I T I ES Federal Reserve notes 25,856,658 204,436 895,588 Deposits: Member bank--reserve accounts 19,827,622 344,920 325,149 U. S. Treasurer—general account 176,241 167,932 85,803 Foreign 520,902 93,884 54,678 Other 174,301 16,776 9^934 Total deposits 20,699,066 254,09E 303,955 Deferred availability cash items 3,306,020 455,874 + 334,816 Other liabilities and accrued dividends 15,704 8,705 + 4,li6 TOTAL LIABILITIES 49,877,448 514,239 + 930,562 C A P I T AL A C C O U N TS Capital paid in 259,651 234 14,191 Surplus (Section 7) 584,676 + 46,334 Surplus (Section 13b) 27,543 Other capital accounts 210,779 .6,977 15,233 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,960,097 507,023 + 1,006,320 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7# Contingent liability on acceptances purchased for foreign correspondents 29,624 + 1,236 20,530 Industrial loan commitments 3,453 + 68 2,547 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 1, 1953 (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days "225,977 475 318,200 16 to 90 days 16,270 741 2,182,829 91 days to 1 year 3,927 1,220 13,023,616 Over 1 year to 5 years 663 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Total 245,174 3,099 24,766,166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 1, 1953 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,497,103 614,724 6,681,143 1173,572 1397,301 739,650 642,282 4366,255 520,707 300,019 879,995 486,558 2694,897 Redemption fund for F. R. notes 790,178 64,822 109,247 58,667 85,252 80,848 61,599 125,539 50,683 26,044 40,360 30,399 56,718 Total gold certificate reserves 21,287,281 679,546 6,790,390 1232,239 1482,553 820,498 703,881 4491,794 571,390 326,063 920,355 516,957 2751,615 Other cash 312,846 22,120 57,598 16,601 25,578 16,015 26,812 70,170 17,532 5,286 11,094 12,647 31,393 Discounts and advances 245,174 2,776 37,984 13,118 29,170 15,375 19,429 36,726 2,761 41,088 28,586 5,801 12,360 Industrial loans 3,099 — 2,509 — 19 458 113 U. S, Govt, securities: Bought outright-- Bills 1,474,804 103,625 324,575 92,380 143,252 105,428 90,668 218,268 78,604 44,832 58,565 71,205 143,402 Certificates 4,995,716 351,049 1,099,447 312,927 485,249 357,123 307,132 739,331 266,277 151,890 198,379 241,198 485,714 Notes 13,773,671 967,876 3,031,282 862,769 1337,878 984,625 846,791 2038,407 734,150 418,774 546,953 665,007 1339,159 Bonds 4,521,975 317,759 995,187 283,252 439,233 323,258 278,006 669,221 241,026 137,486 179,568 218,325 439,654 Total 24,766,166 1740,309 5,450,491 1551,320 2405,612 1770,434 1522,597 3665,227 1320,057 752,982 983,465 1195,735 2407,929 Held under repurchase agreement Total U. S. Government securities 24,766,166 1740,309 5,450,491 1551,328 2405,612 1770,434 1522,597 3665,227 1320,057 752,982 983,465 1195,735 2407,929 Total loans and securities 25,014,439 1743,08$ 5,488,475 1566,955 2434,782 1785,828 1542,484 3701,953 1322,818 794,183 1012,051 1201,536 2420,289 Due from foreign banks 23 l l/ 7 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 152,615 3,420 22,862 ll,6l8 8,446 16,325 18,763 18,543 8,867 7,952 7,587 7,822 20,410 Uncollected cash items 4,043,306 343,183 810,494 233,101 378,857 340,208 295,449 605,065 149,108 107,367 192,984 191,449 396,04l Bank premises 49,805 5,021 7,146 4,239 4,579 4,857 3,657 6,759 2,930 1,037 2,180 6ll 6,789 Other assets 99,782 7,420 21,184 6,011 9,912 6,991 6,835 l4,l6o 4,881 2,956 4,670 5,157 9,605 fcOTAL ASSETS 50,960,097 2803,796 13,198,156 3070,766 4344,709 2990,723 2597,882 8908,447 2077,527 1244,845 2150,922 1936,180 5636,144 Digitized for FRASER l/ After deducting $l6,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 1, 1953 H (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,856,658 1613,256 5,696,035 1836,788 2394,045 1776,988 1378,344 4981,049 1180,704 639,032 1011,703 732,208 2616,506 ^b^Lnk-reserve accts. 19,827,622 783,275 6,156,199 907,255 1490,115 843,997 890,317 3210,428 697,392 *69,679 920,132 956,909 2501,924 E F™ "" gg « -I '°-5 « *a *S " -S si J K b W ~ 1 S :S S;g SS « $:S g;S 1?, SS;S SS SS;g 15;2!S °aec^aSvidenLand 15.704 1.106 4.023 763 1.848 820 1 ^2 hM Hi Hi %2 1^ lTOTAiL LIAsBILI.TIES 4 9,8S77,44 8 Si 2735,628 1 2,8*96,62 6 s2990,i234 424!4,6806 293 2,i253 l25547,41 7 81759,50 3 2f032l,91 4 1i215l,293 21f08,5 26« 1886, 16S0 5528 ,288 CAPITAL ACCOUNTS 50,960,097 2803,796 13,198,156 3070,766 4344,709 2990,723 2597,882 8908,447 2077,527 1244,845 2150,922 1936,180 5636,144 Contingent liability on acceptances purchased ^ , . A1 for foreign correspondents 29,624 1,819 2/8,597 2,237 2,744 1,491 1,283 4,086 1,133 746 ' Industrial loan commitments 3,453 — 1,692 749 52 43 9 7 FEDERAL RESERVE AGENTS' ACCOUNTS P. H. notes outstanding 26,696,900 1667,057 5,876,538 1897,505 2451,337 1849,309 1448,054 5083,278 1223,200 652,690 1036,663 766,166 2745,103 C°£lde«rtmi;es "°teS: 11,974,000 390,000 3,920,000 745,000 770,000 450,000 310,000 2800,000 280,000 145,000 280,000 184,000 1700,000 l4l 482 2 196 29,106 12,405 — 14,900 — — 2,400 40,550 2o,225 n,4Uv Eligible paper 15,400000 1300.000 2,100,000 1200,000 1700,000 1450,000 1200,000 2400,000 1025,000 525,000 800,000 600,000 1100,000 U. S. Govt, securities 27 515,482 1692,196 6,049,106 1957,405 2470,000 1914]900 1510,000 5200,000 1307,4oo710,850 1108,225784,000 2811,400 Total collateral } 1/ After deducting $363,921,000 participations of other Federal Reserve Banks. 2/ After deducting $21,027,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis