H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) September 17, 1953 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended September 16, Member ban kreserves increased $667 million. The principal changes supplying reserves were an increase of $285 million in Reserve Bank credit and decreases of $218 million in Treasurydeposits with Federal Reserve Banks, $144 million in Money in circulation, and $62 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $23 million in Other F. R. account s(net) and $18 million in Other deposits with Federal Reserve Banks. The increase of $285 million in Reserve Bank credit resulted from increases of $384 million in Float, $50 million in U. S. Government securities bought outright, and $31 million in U. S. Government securities held under repurchase agreement, and a decrease of $181 millions in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $50 million in bills, Change since Member Bank Reserves Sept. 16, Sept. 9, Sept. 17, and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities•>- Bought outright 25,084 + 50 +1,344 Held under repurchase agreement 123 + 31 + 123 Loans, discounts and advances 313 -181 5 Float 9^3 +384 - 248 Total 26,464 +285 +1,215 Gold stock 22,178 -1,166 - - Treasury currency outstanding 4,868 + 3 + 88 Money in circulation 30,335 -144 +1,043 Treasury cash holdings 1,278 + 4 3 Treasury deposits with F. R. Banks 356 -218 + 350 Foreign deposits with F. R. Banks 507 - 62 - 314 Other deposits with F. R. Banks 381 + 18 + 204 Other F. R. accounts (net) 882 + 23 + 153 Member bank reserves 19,771 +667 -1,296 Required reserves (estimated) 18,853 +131 -1,104 Excess reserves (estimated) 918 +536 - 192 Daily averages for period— Estimated excess reserves of member banks 783 +82 72 Member bank borrowings at F. R. Banks 541 -261 - 109 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,602 million, an increase of $26 million for the week and an increase of $485 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 FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Sept. 16, Sept. 91 Sept. 17, •19?? 1953 1952 A SS ET S Gold certificates 20,120,103 19,998 - 1,325,398 Redemption fund for F. R. notes 868.022 18.055 + 170.364 Total gold certificate reserves 20,988,125 1,943 1,155,034 Other cash 339,162 + 31,108 - 640 Discounts and advances 310,767 - 180,106 - 2,533 Industrial loans 2,657 127 1,951 U. S. Government securities: Bought outright— Bills 1,792,304 + 50,000 + 1,333,304 Certificates: Special - 221,000 Other 5,851,541 + 855,825 w 6,404,825 Notes 13,773,671 — + 8,205,598 Bonds 3.666.150 — 855,825 - 1,569,673 Total bought outright 25,083,666 + 50,000 + 1,343,404 Held under repurchase agreement 123.350 + 30.850 Hh 123,350 Total U. S. Government securities 25,207,016 + 80,850 4*1 .466,754 Total loans and securities 25,520,440 - 99,383 + 1,462,270 Due from foreign banks 22 — — 1 F. R, notes of other banks 192,793 + 26,318 - 2,373 Uncollected cash items 4,850,014 + 1,602,012 — 217,125 Bank premises 50,106 + 122 4,408 Other assets 175,063 - 13,791 - 73,557 TOTAL ASSETS 52,115,725 + 1,544,443 + 17,948 L I A B I L I T I ES Federal Reserve notes 26,087,004 - 86,937 •f 960,260 Deposits: Member bank—reserve accounts 19,771,162 + 667,057 — 1,295,986 U. S. Treasurer—general account 355,990 - 217,547 350,298 Foreign 507,148 - 61,800 - 314,251 Other 380.692 + 17.300 + 204.040 Total deposits 21,014,992 + 405,010 - 1,055,899 Deferred availability cash items 3,906,819 + 1,217,700 30,488 Other liabilities and accrued dividends 20,283 + 885 + 4,452 TOTAL LIABILITIES 51,029,098 + 1,536,658 — 60,699 C A P I T AL A C C O U N TS Capital paid in 261,396 + 54 + 14,878 Surplus (Section 7) 584,676 ~- 46,334 Surplus (Section 13b) 27,543 — -- Other capital accounts 213.012 + 7.731 + 17.435 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,115,725 + 1,544,443 + 17,948 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 44.6% - .3# - 2,3% Contingent liability on acceptances purchased for foreign correspondents 25,652 — 721 + 14,569 Industrial loan commitments 3,502 + 114 - 2,743 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPT. 16. 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 287,967 1,234 673,250 16 to 90 days 22,761 61 8,734,154 91 days to 1 year 39 866 6,558,091 Over 1 year to 5 years 496 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1.614.857 Total 310,767 2,657 25,207,016 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.t.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER l6, 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 20,120,103 1076,363 5,342,913 1237,508 1779,191 1055,779 876,241 3715,960 795,497 464,140 811,549 658,174 2306,788 RedempUon^fund for 868,022 54,676 149,900 60,412 84,641 81,110 60,485 143,888 50,174 25,866 39,997 31,018 85,855 Total gold certificate reserves"" " ' 20,988,125 1131,039 5,492,813 1297,920 1863,832 1136,889 936,726 3859,848 845,671 490,006 851,546 689,192 2392,643 Other cash 339,162 25,587 65,991 21,651 21,283 14,182 26,737 73,644 15,743 5,691 11,309 11,587 45,757 Discounts and advances 310,767 3,925 68,765 8,875 18,400 20,128 19,420 98,035 3,300 17,475 32,789 15,570 4,085 Industrial loans 2,657 — — 1,933 90 531 ~ 103 U. S. Govt, securities: BOBillsOUtriSht 1,792,304 98,692 461,388 107,993 152,147 106,283 91,676 309,767 75,405 44,236 78,113 71*196 195,408 Certificates 5,851,541 322,209 1,506,351 352,579 496,731 346,996 299,300 1011,334 246,180 144,422 255,028 232,441 637,970 Notes 13,773,671 758,433 3,545,729 829,919 1169,233 816,779 704,509 2380,531 579,472 339,948 600,298 547,132 1501,688 Bonds 3,666.150 201.873 943.770 220.900 311,216 217,403 187.520 633.628 154,238 90.484 159,782 145,630 399,706 Total 25,083,666 1381,207 6,457,238 1511,391 2129,327 1487,461 1283,005 4335,260 1055,295 619,090 1093,221 996,399 2734,772 Held under repurchase agreement 123.350 — 123.350 — — — — — . ~ = = Total U. S. Government securities 25,207,016 1381,207 6,580,588 1511,391 2129,327 1487,461 1283,005 4335,260 1055,295 619,090 1093,221 996,399 2734,772 Total loans and , securities 25,520,440 1385,132 6,649,353 1522,199 2147,727 1507,679 1302,956 4433,295 1058,595 636,668 1126,010 1011,969 2738,857 Due from foreign banks 22 1 l/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 192,793 5,606 30,711 10,977 8,741 23,271 20,385 22,556 9,991 17,388 9,964 7,936 25,267 Uncollected cash items 4,850,014 374,027 1,006,097 285,178 443,290 412,483 338,702 769,718 208,963 129,230 233,455 200,398 448,473 Bank premises 50,106 5,073 7,109 4,379 4,549 4,803 3,648 6,749 2,919 1,033 2,167 602 7,075 Other assets 175,063 10,514 43,993 10,213 15,110 10,369 9,694 29,004 7,030 4,325 8,314 7,557 18,940 TOTAL ASSETS 52,115,725 2936,979 13,296,073 3152,519 4504,534 3109,677 2638,849 9194,817 2148,913 1284,342 2242,766 1929,242 5677,014 Digitized for FRASER http://fraser.stlouisfed.org/ l/ After deducting $16,000 participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON SEPTEMBER 16, 1953 (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 26,087,004 1597,285 5,728,522 1846,077 2433,247 1826,579 1379,68$ 5043,348 1180,230 636,99k 1013,078 733,352 2668,603 Deposits: Member bank-reserve accts .19,771,162 867,975 5,958,839 931,696 1539,458 835,067 872,100 3303,832 704,712 462,344 947,682 928,082 2419,375 U.S.Treasurer-general acct. 355,990 24,393 93,897 17,159 28,030 20,810 25,944 20,966 29,937 27,748 27,413 13,586 26,107 Foreign 507,148 30,756 1/151,668 37,815 46,386 25,210 21,681 69,075 19,160 12,605 19,160 22,689 50,943 Other 4,719 315,698 1,878 5,874 3,087 639 1,726 7.846 632 581 35,470 Total deposits 21,014,992 927,843 6,520,102 988,548 1619,748 884,174 920,364 3395,599 761,655 503,329 996,797 964,938 2:5 31,895 Deferred avail, cash items 3,906,819 342,383 737,841 236,538 349,910 339,324 287,746 602,232 161,870 113,702 189,353 179,990 365,930 Other liabilities and accrued dividends 20,283 1,231 6,355 1,008 1,803 975 817 3,162 684 914 723 859 1,752 TOTAL LIABILITIES 51,029,098 2868,742 12,992,820 3072,171 4404,708 3051,052 2588,616 9044,341 2104,439 1254,939 2199,951 1879,139 5568,180 Capital paid in 261,396 14,235 81,547 17,799 24,817 11,383 11,031 33,701 8,973 5,843 10,017 13,166 28,884 Surplus (Section 7) 584,676 36,462 167,503 43,578 54,064 29,248 25,803 84,628 23,628 15,131 21,925 25,381 57,325 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 213,012 14,529 46,884 14,482 19,939 14,645 12,637 30,718 11,352 7,356 9,736 10,249 20,485 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,115,725 2936,979 13,296,073 3152,519 4504,534 3109,677 2638,849 9194,817 2148,913 1284,342 2242,766 1929,242 5677,014 Contingent liability on acceptances purchased for foreign correspondents 25,652 1,565 2/ 7,565 1,924 ,360 1,283 1,103 3,515 975 641 975 1,155 2,591 Industrial loan commitments 3,502 1,776 749 52 39 886 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,213,183 1663,226 5,980,266 1921,141 2519,402 1915,647 1452,607 5183,430 1248,457 653,521 1047,152 778,734 2849,600 Collateral for F.R. notes: Gold certificates 11,563,000 640,000 3,220,000 745,000 1000,000 600,000 385,030805,000 22550000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 154,642 3,925 67,265 8,875 20,128 — — 3,100 17,475 32,789 1,085 U. S. Govt, securities 16,520,000 1200,000 2,900,000 1200,000 1550,000 1350,000 1100,000 2800,00 0975,000 500,000 800,000 525,000 1620,000 Total collateral 28,237,642 1843,925 6,187,265 1953,875 2550,000 1970,128 1485,000 5300,000 1333,100 692,475 1112,789 808,000 3001,085 l/ After deducting $355,461,000 participations of other Federal Reserve Banks. 2/ After deducting $18,087,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis