H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TH EFEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) September 24, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 23, Member bank reserves decreased $285 million. The principal changes reducing reserves were increases of $263 million in Treasury deposits with Federal Reserve Banks and $36 million in Foreign deposits with Federal Reserve Banks, and a decrease of $236 million in Reserve Bank credit. The principal offsetting changes were decreases of $125 million in Money in circulation an d$122 million in Other deposit swith Federal Reserve Banks. The decrease of $236 million in Reserve Bank credit resulted from decreases of $130 million in Float, $123 million in U. S. Government securities held under repurchase agreement, and $82 million in Loans, discounts and advances, and an increase $101 million in U. S. Government securitie sbought outright. Holdings of U. S. Government securities bought outright reflected an increase of $101 million in bills. Change since Member Bank Reserves Sept. 23, Sept. 16, Sept. 24, and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,185 +101 +1,470 Held under repurchase agreement — -123 -- Loans, discounts and advances 231 - 82 - 174 Float 813 -130 + 75 Total 26,228 -236 +1,371 pold stock 22,179 + 1 -1,164 Treasury currency outstanding 4,869 + 1 + 88 Money in circulation 30,210 -125 + 963 Treasury cash holdings 1,277 - 1 + 3 Treasury deposits with F. R. Banks 619 +263 + 355 Foreign deposits with F. R. Banks 543 + 36 - 185 Other deposits with F. R. Banks 259 -122 + 98 Other F. R. accounts (net) 881 - 1 + 155 Member bank reserves 19,486 -285 -1,095 Required reserves (estimated) 18,831 - 22 -1,070 Excess reserves (estimated) 655 -263 - 25 Daily averages for period— Estimated excess reserves of member banks +172 955 - 139 Member bank borrowings at F. R. Banks 227 -314 - 55 U. S. Government securities held in custody by the Federa lReserve Banks for foreign account were $2,62 1million, an increase of $19 million for the week and an increase of $410 million from the comparable dat ea 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. 23, Sept. 16, Sept. 24, 1953 1953 1952 A S S E TS Gold certificates 20,121,101 + 99 8 1,331,501 Redemption fund for F. R. notes 866,180 • - 1,842 + 171,859 Total gold certificate reserves 20,987,281 * 844 - 1,159,642 Other cash 348,178 + 9,016 + 3,341 Discounts and advances 227,888 - 82,879 - 172,255 Industrial loans 2,975 + 318 1,486 " U. S. Government securities: Bought outright-- Bills 1,893,312 + 101,008 + 1,475,112 Certificates 5,851,541 — 6,640,925 - Notes 13,773,671 — + 8,205,598 Bonds 3,666,150 • — - 1,569,673 Total bought outright 25,184,674 + 101,008 + 1,470,112 Held under repurchase agreement — - 123.350 Total U. S. Government securities 25,184,674 22,342 + 1,470,112 - Total loans and securities 25,415,537 - 104,903 + 1,296,371 Due from foreign banks 22 — - 1 F. R. notes of other banks 207,520 + 14,727 + 11,182 Uncollected cash items 4,140,557 - 709,457 + 277,811 Bank premises 50,089 - 17 + 4,406 Other assets 183.533 + 8.470 77.764 - TOTAL ASSETS 51,332,717 783,008 + 355,704 L I A B I L I T I ES Federal Reserve notes 25,982,815 - 104,189 + 897,639 Deposits: Member bank—reserve accounts 19,485,565 — 285,597 1,094,970 U. S. Treasurer—general account 618,890 + 262,900 + 354,910 Foreign 543,180 + 36,032 185,000 - Other 259,334 - 121,358 + 98,220 Total deposits 20,906,969 — 108,023 - 826,840 Deferred availability cash items 3,327,900 — 578,919 + 202,665 Other liabilities and accrued dividends 20,679 + 396 + 2,517 TOTAL LIABILITIES 50,238,363 790,735 + 275,981 C A P I T AL A C C O U N TS Capital paid in 261,469 + 73 + 14,727 Surplus (Section 7) 584,676 —— + 46,334 Surplus (Section 13b) 27,543 Other capital accounts 220,666 + 7,654 + 18,662 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,332,717 — 783,008 + 355,704 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8% + .2% 2.5% - Contingent liability on acceptances purchased for foreign correspondents 25,343 — 309 + 12,468 Industrial loan commitments 3,220 - 282 - 3,099 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 23, 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 212,364 ~ 1,491 536,400 16 to 90 days 15,515 57 8,848,662 91 days to 1 year 9 937 6,558,091 - Over 1 year to 5 years 490 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1.414.857 Total 227,888 2,975 25,184,674 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 SEPTEMBER 23, 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 20,121,101 1056,012 5,395,258 1263,791 1777,577 1057,438 895,252 3605,878 793,422 457,833 780,680 704,234 2333,726 Redemption fund for F. R. notes 866.180 54.604 149.564 60.238 84.533 80.340 60.385 143.780 50.126 25.854 39.961 30.994 85.801 Total gold certificate reserves 20,987,281 1110,616 5,544,822 1324,029 1862,110 1137,778 955,637 3749,658 843,548 483,687 820,641 735,228 2419,527 Other cash 348,178 26,848 71,917 22,122 25,269 15,676 26,519 72,860 16,712 5,587 11,493 11,602 41,573 Discounts and advances 227,888 1,600 13,895 5,375 12,775 18,148 23,500 85,050 5,140 15,625 26,655 16,640 3,485 Industrial loans 2,975 — 2,212 — 90 570 — — 103 — — — U. S. Govt, securities: Bought outright— Bills 1,893,312 104,254 487,390 114,079 160,722 112,273 96,842 327,225 79,654 46,729 82,516 75,208 206,420 Certificates 5,851,5a 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 25,184,674 1386,769 6,483,240 1517,477 2137,902 1493,451 1288,171 4352,718 1059,544 621,583 1097,624 1000,411 2745,784 Held under repurchase Total U. S. Government securities' 25,184,674 1386,769 6,483,240 1517,477 2137,902 1493,451 1288,171 4352,718 1059,544 621,583 1097,624 1000,411 2745,784 Total loans and securities 25,415,537 1388,369 6,497,135 1525,064 2150,677 1511,689 1312,241 4437,768 1064,684 637,311 1124,279 1017,051 2749,269 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 207,520 7,734 34,078 13,419 10,010 23,250 20,305 21,850 10,290 16,186 9,023 9,364 32,011 Uncollected cash items 4,140,557 314,182 751,048 246,197 365,469 355,567 282,492 721,092 169,592 111,080 210,275 186,412 427,152 Bank premises 50,089 5,073 7,109 4,373 4,541 4,803 3,645 6,749 2,919 1,033 2,167 602 7,075 Other assets 183,533 10,963 46,070 10,654 15,936 10,660 10,164 30,642 7,414 4,503 8,713 7,904 19,910 TOTAL ASSETS 51,332,717 2863,786 12,952,185 3145,860 4434,013 3059,424 2611,004 9040,622 2115,160 1259,388 2186,592 1968,164 5696,519 Digitized for FRASER ly1 After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) - STATEMEET" OF 1COmmOH XF'"THE" FEDERKL RESERVE BANK SON SEPTEMBER 23; 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 25,982,815 1591,076 5,708,395 1840,522 2424,730 1825,534 1374,344 5029,864 1174,535 637,3** 1008,872 728,481 2639,118 Deposits: Member bank-reserve accts. 19,485,565 842,009 5,899,807 929,665 1494,799 803,567 874,869 3169,490 698,877 449,500 908,087 949,196 2465,789 U.S.Treasurer-general acct. 618,890 37,132 135,335 44,129 57,706 46,297 32,191 77,398 29,676 36,404 34,407 42,833 45,382 Foreign 543,180 32,836 1/163,659 40,373 49,524 26,915 23,147 73,747 20,455 13,458 20,455 24,224 54,387 Other 259,334 4,943 189,076 1,526 6,482 3,225 1,025 982 7,984 971 1,835 615 40,670 Total deposits 20,906,969 916,920 6,387,877 1015,693 1608,421 88o,oo4 931,232 3321,617 756,992 500,333 964,784 1016,868 2606,228 Deferred avail, cash items 3,327,900 286,012 544,382 207,875 298,409 293,812 253,900 534,127 138,117 91,221 168,992 171,487 339,566 Other liabilities and accrued dividends 20,679 1,176 6,229 958 1,947 1,019 924 3,119 750 901 799 937 1,920 TOTAL LIABILITIES 50,238,363 2795,184 12,646,883 3065,048 4333,507 3000,369 2560,400 8888,727 2070,394 1229,799 2143,44? 1917,773 5586,832 Capital paid in 261,469 14,235 81,551 17,818 24,847 11,389 11,032 33,708 8,973 5,843 10,020 13,168 28,885 Surplus (Section 7) 23, % ^ i? Surplus (Section 13b) % in i6v,m w- : Other capital accounts 220,666 14,894 48,929 14,927 20,589 15,069 13,007 32,130 11,644 7,542 10,063 10,535 21,337 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,332,717 2863,786 12,952,185 3145,860 4434,013 3059,424 2611,004 9040,622 2115,160 1259,388 2186,592 1968,164 5696,519 Contingent liability on acceptances purchased for foreign correspondents 25,343 1,546 2/ 7,475 1,901 2,332 1,267 1,090 3,472 963 634 963 l,l4o 2,560 Industrial loan commitments 3,220 1,494 749 52 39 886 FEDERAL RESERVE AGENTS' ACCOUNTS 7 iO F. R. notes outstanding 27,10^,644 1651,601 5,960,079 19QQ,289 2511,052 1911,660 1451,318 5162,194 1240,606 649,989 1045,017 776,104 2837,735 Collateral for F.R. notes: Gold certificates 11,463,000 640,000 3,220,000 745,000 1000,000 600,000 385,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 86,828 1,600 13,850 5,375 18,148 5,090 15,625 26,655 485 U. S. Govt, securities 16,620,000 1200^000 2,900,000 1200,000 1550,000 1350,000 1100,000 2900,000 975,000 500,000 80CX000 525,000 1620,000 Total collateral 28^169^828 1841,600 6,133,850 1950,375 2550,000 1968,148 1485,000 5300,000 1335,090 690,625 1106,655 008,000 3000,485 1/ After deducting $379,501,000 participations of other Federa lReserve Banks. 2/ After deducting $17,868,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis