H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) October 1, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 30, Member bank reserves decreased $177 million. The principal changes reducing reserves were increases of $93 million in Other deposits with Federal Reserve Banks, $6l million in Money in circulation, $23 million in Treasury deposits with Federal Reserve Banks, and $10 million in Treasury cash holdings, and a decrease of $51 million in Gold stock. The principal offsetting changes were a decrease of $31 million in Foreign deposits with Federal Reserve Banks and an increase of $24 million in Reserve Bank credit. The increase of $24 million in Reserve Bank credit resulted from increases of $101 million in Loans, discounts and advances and $50 million in U. S. Government securities bought outright, and a decrease of $128 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $ 50 million in bills. Change since Member Bank Reserves Sept. 30, Sept. 23, Oct. 1, and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 2 5 , 2 35 + 50 +1,541 Held under repurchase agreement Loans, discounts and advances 3 32 +101 - 2 16 Float 6 85 - 1 28 - 36 Total 2 6 , 2 52 + 24 + 1 , 2 89 Gold stock 22,128 - 51 -1,214 Treasury currency outstanding 4,872 + 3 + 85 & Money in circulation 30,27-1' + 61 + 854 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) r-T £OJ + 10 -* — 642 + 23 + 119 512 - 31 - 210 352 + 93 + 190 8 80 - 1 2 Member bank reserves 1 9 , 3 09 - 1 77 - 7 89 Required reserves (estimated) 18,827 - 4 - 9.35 Excess reserves (estimated) 482 -173 + 146 Daily averages for period-- Estimated excess reserves of member banks 547 -4o8 + 52 Member bank borrowings at F. R. Banks 3 18 +91 - 181 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,641 million, an increase of $20 million for the week and an increase of $405 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, 30, Sept, 23, October 1, 1953 1952 A S S E TS . Gold certificates 2 0 , 0 7 1 , 1 04 49,997 1,380,498 Redemption fund for F, R. notes 8 6 2 , 3 63 3,817 + 167,042 - Total gold certificate reserves 20,933,467 - 53,814 - 1,213,456 Other cash 344,110 - 4,068 + 16,491 Discounts and advances 329,347 + 101,459 - 214,602 Industrial loans 2,968 7 1,413 U. S, Government securities: Bought outright— Bills 1,943,312 + 50,000 1,546,112 Certificates 5,851,541 — + 850,825 Notes 13,773,671 — — . Bonds 3,666,150 - 855,825 Total bought outright 25,234,674 + 50,000 + 1,541,112 Held under repurchase agreement Total U. S, Government securities 25,234,674 + 50,000 + 1,541,115 Total loans and securities 25,566,989 + 151,452 + 1,325,097 Due from foreign banks 22 —— - 1 F, R, notes of other banks 198,242 - 9,278 + 23,354 Uncollected cash items 3,843,878 - 296,679 + 119,599 Bank premises 50,041 - 48 + 4,433 Other assets 192,809 + 9,276 •f 82,390 TOTAL ASSETS 51,129,558 203,159 + 357,907 — L I A B I L I T I ES Federal Reserve notes 26,033,313 + 50,498 + 808,381 Deposits: Member bank—reserve accounts 19,308,535 — 177,030 — 789,727 U. S. Treasurer—general account 642,404 + 23,514 + 119,372 Foreign 512,255 - 30,925 - 209,401 Other 351,631 + 92,297 + 189,613 Total deposits 20,814,825 — 92,144 - 690,143 Deferred availability cash items 3,158,668 - 169,232 + 155,062 Other liabilities and accrued dividends 20,693 + 14 + 4,527 TOTAL LIABILITIES 50,027,499 210,864 + 277,827 C A P I T AL A C C O U N TS Capital paid in 261,550 + 81 + 13,801 Surplus (Section 7) 584,676 + 46,334 —— Surplus (Section 13b) 27,543 —- — Other capital accounts 228,290 + 7,624 + 19,945 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,129,558 203,159 + 357,907 — Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.7$ - .1% - 2.7%' Contingent liability on acceptances purchased for foreign correspondents 26,255 + 912 + 13,190 Industrial loan commitments 3,342 + 122 - 3,071 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 30, 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 316 7 840 494,900 16 to 90 days 13,063 / 6 423 8,940,162 91 days to 1 year 1,624 6,558,091 Over 1 year to 5 years 81 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1.414.857 Digitized for FR T AS o E t R a l 329,347 2,968 25*234,674 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 30, 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 20,071,104 1001,213 5,557,128 1201,136 1775,255 1051,769 854,111 3670,454 784,695 458,036 769,531 699,647 2248,129 Redemption fund for F. R. notes 862,363 54,433 1 4 8 , 8 48 59,949 84,291 78,787 60,229 143,494 50,044 25,816 39,908 30,922 85,642 Total gold certificate reserves 20,933,467 1055,646 5,705,976 1261,085 1859,546 1130,556 914,340 3813,948 834,739 483,852 809,439 730,569 2333,771 Other cash 344,110 27,735 69,889 24,121 22,936 15,549 26,861 70,154 16,063 6,586 11,362 11,078 41,776 Discounts and advances 329,347 6,385 7,385 3,650 9,350 26,748 32,800 79,250 3,310 24,725 38,519 13,740 83,485 Industrial loans 2,968 — — 2,152 — 90 624 102 U. S. Govt, securities: Bought outright— Bills 1,943,312 107,007 500,262 117,092 164,966 115,238 99,399 335,866 81,758 47,963 84,695 77,194 211,872 Certificates 5,851,541 322,209 11,506,351 352,579 496,731 346,996 299,300 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 90,484 159,782 145,630 399,70b Total 25,234,674 1389,522 6,496,112 1520,490 2142,146 1496,416 1290,728 4361,359 1061,648 622,817 1099,803 1002,397 2751,236 Held under repurchase Total U. S. Government securities 25,234,674 1389,522 6,496,112 1520,490 2142,146 1496,416 1290,728 4361,359 1061,648 622,817 1099,803 1002,397 2751,236 Total loans and securities 25,566,989 1395,907 6,503,497 1526,292 2151,496 1523,254 1324,152 4440,609 1064,958 647,644 1138,322 1016,137 2834,721 Due from foreign banks 22 l l /6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 198,242 4,554 32,539 14,633 9,848 23,325 18,000 21,939 11,275 15,267 7,760 10,686 28,416 Uncollected cash items 3,843,878 283,712 759,355 248,182 346,896 307,414 244,401 626,673 171,358 105,175 198,702 165,567 386,443 Bank premises 50,041 5,050 7,091 4,439 4,539 4,778 3,631 6,743 2,914 1,031 2,167 598 7,060 Other assets 192,809 11,491 48,649 11,283 16,880 11,177 10,616 32.204 7,808 4,757 9,051 8,057 20,836 TOTAL ASSETS 51,129,558 2784,096 13,127,002 3090,037 4412,143 3016,054 2542,002 9012,273 2109,116 1264,313 2176,804 1942,693 5653,025 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 30, 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 26,033,313 1590,918 5,709,343 1840,668 2419,115 1838,762 1390,530 5025,762 1182,367 637,332 1015,220 740,231 2643,065 Deposits: Member bank-reserve accts. 19,308,535 774,526 5,926,506 884,602 1502,274 786,896 825,204 3207,686 679,705 461,792 880,285 953,713 2425,346 U.S.Treasurer-general acct. 642,4o4 51,582 154,159 46,891 49,591 47,465 37,601 55,132 42,031 26,100 46,064 21,908 63,880 Foreign 512,255 30,543 1/159,241 37,553 46,064 25,035 21,530 68,596 19,027 12,518 19,027 22,532 50,589 Other 351,631 4,639 284,248 2,464 5,389 2,667 3,905 1,023 9,236 962 744 2,736 33,618 Total deposits 20,814,825 861,290 6,524,154 971,510 1603,318 862,063 888,240 3332,437 749,999 501,372 946,120 1000,889 2573,433 Deferred avail, cash items 3,158,668 261,670 579,767 195,442 286,421 254,818 211,345 497,548 130,948 95,216 171,230 150,129 324,134 Other liabilities and accrued dividends 20,693 1,253 6,372 1,149 2,127 912 881 3,236 762 651 769 712 1,869 TOTAL LIABILITIES 50,027,499 2715,131 12,819,636 3008,769 4310,981 2956,555 2490,996 8858,983 2064,076 1234,571 2133,339 1891,961 5542,501 Capital paid in 261,550 14,235 81,559 17,821 24,850 11,389 11,033 33,712 8,991 5,843 10,021 13,204 28,892 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 228,290 15,257 50,985 15,380 21,242 15,513 13,408 33,521 11,900 7,695 10,382 10,840 22,167 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,129,558 2784,096 13,127,002 3090,037 4412,143 3016,054 2542,002 9012,273 2109,116 1264,313 2176,804 1942,693 5653,025 Contingent liability on acceptances purchased for foreign correspondents 26,255 1,602 2/7,745 1,969 2,415 1,313 1,129 3,597 998 656 998 1,181 2,652 Industrial loan commitments 3,342 1,494 749 52 138 31 878 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,107,943 1657,913 5,938,279 1917,611 2508,574 1911,947 1451,599 5162,008 1252,458 650,544 1049,667 780,326 2827,017 Collateral for F.R. notes: Gold certificates 11,463,000 640,000 3,220,000 745,000 1000,000 600,000 385,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 191,182 6,385 7,360 3,650 26,748 — — 3,310 24,725 38,519 — 80,485 U. S. Govt, securities 16,620,000 1200,000 2,900,000 1200,000 1550,000 1350,000 1100,000 2900,000 975,000 500,000 800,000 525,000 1620,000 Total collateral 28,274,182 1846,385 6,127,360 1948,650 2550,000 1976,748 1485,000 5300,000 1333,310 699,725 1118,519 808,000 3080,485 l/ After deducting $352,994,000 participations of other Federal Reserve Banks. 2/ After deducting $18,510,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis