H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) November 12, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended November 11, Member bank reserves decreased $14-9 million. These reserves were not affected by a sale by the Federal Reserve Banks to the Treasury for retirement of $500 million Treasury notes maturing December 1, 1953, and payment therefor by the deposit of gold certificates with the Federal Reserve Banks. The principal changes reducing reserves were a decrease of $219 million in Reserve Bank credit (exclusive of the $500 million decrease in Reserve Bank holdings of Treasury notes), and increases of $158 million in Other deposits with Federal Reserve Banks, $112 million in Money in circulation, and $1 million in Treasury cash holdings (exclusive of a $500 million decrease in free gold). The principal offsetting change was a decrease of $342 million in Treasury deposits with Federal Reserve Banks. The decrease of $219 million in Reserve Bank credit resulted from a decrease of $458 million in Loans, discounts and advances, and increases of $116 million in U. S. Government securities held under repurchase agreement, $63 million in Float, and $60 million in U. S. Government securities bought outright (exclusive of the $500 million decrease in notes). Holdings of U. S. Government securities bought outright reflected a decrease of $500 million in notes sold to the Treasury and an increase of $60 million in bills. Change since Member Bank Reserves Nov. 11, Nov. 4, Nov. 12 and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 24,958 -440 * +1,466 Held under repurchase agreement 165 +116 + 90 Loans, discounts and advances 367 -458 -1,221 Float 622 +63 + 80 Total 26,111 -719 * +415 Gold stock -1,261 22,077 + 1 Treasury currency outstanding 4,878 +1 + 84 Money in circulation 30,5^0 +112 + 635 Treasury cash holdings 784 -499 * - 498 Treasury deposits with F. R. Banks 322 -342 - 183 Foreign deposits with F. R. Banks 449 - 4 - 190 Other deposits with F. R. Banks 534 +158 + 290 Other F. R. accounts (net) 808 + 7 + 3 Member bank reserves 19,630 -149 - 817 Required reserves (estimated) 18,957 +145 - 949 Excess reserves (estimated) 673 -294 + 132 Daily averages for period— Estimated excess reserves of member banks 830 +215 h 118 Member bank borrowings at F. R. Banks 396 - 64 -1,139 Reflects effect of the sale by the Federal Reserve Banks to the Treasury for retirement of $500 million Treasury notes and payment therefor by deposit of gold certificates with the Federal Reserve Banks. U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,66l million an increase of $6 million for the week and $366 an increase of 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 Nov. 11, Nov. 4, Nov. 12, 1953 1953 1952 A S S E T S Gold certificates 20,543,103 +500,000 - 876,998 Redemption fund for F. R. notes 850.100 - 7,590 + 136.174 Total gold certificate reserves 21,393,203 +496,410 - 740,824 Other cash 314,537 - 15,957 + 25,246 Discounts and advances 364,620 -457,359 -1,218,807 Industrial loans 2,320 441 1,830 U. S. Government securities: Bought outright— Bills 2,166,312 + 60,000 +1,965,862 Certificates 5,851,541 + 855,825 Notes 13,273,671 -500,000 - 500,000 Bonds 3.666.150 — - 855.825 Total bought outright 24,957,674 -440,000 +1,465,862 Held under repurchase agreement 165.000 +116.000 + 90.000 Total U. S« Government securities 25.122.674 -324.000 +1 .555.862 Total loans and securities 25,489,614 -781,800 + 335,225 Due from foreign banks 22 — - 1 F. R. notes of other banks 160,703 - 4,372 + 5,724 Uncollected cash items 3,635,683 + 55,060 - 359,673 Bank premises 50,043 + 4 + 4,472 Other assets 223.807 + 3,807. + 61.924 TOTAL ASSETS 51,267,612 -246,848 667,907 L I A B I L I T I ES Federal Reserve notes 26,237,641 + 87,747 + 603,875 Deposits: Member bank--reserve accounts 19,629,548 -148,964 — 817,801 U. S. Treasurer^-general account 321,677 -342,392 *•» 183,548 Foreign 448,897 - 3,679 — 190,164 Other 534,297 +158.350 + 289.861 Total deposits 20,934,419 -336,685 - 901,652 Deferred availability cash items 3,013,828 - 8,222 - 439,691 Other liabilities and accrued dividends 21.741 + 1,724 + 2.576 TOTAL LIABILITIES 50,207,629 -255,436 734,892 C A P I T AL A C C O U N TS Capital paid in 262,987 + 251 + 14,737 Surplus (Section 7) 584,676 + 4466,,333344 Surplus (Section 13b) 27,543 —— Other capital accounts 184.777 + 8,??? + 5,914 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,267,612 -246,848 667,907 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 45.4% + 1,3% — 1.2% Contingent liability on acceptances purchased for foreign correspondents 20,969 889 + 3,869 Industrial loan commitments 3,101 204 785 (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 327,991 472 426,000 16 to 90 days 36,521 697 8,897,062 91 days to 1 year 108 1,076 6,558,091 Over 1 year to 5 years 75 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1.414.857 Total 364,620 2,320 25,122,674 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 NOVEMBER 11, 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 20,543,103 1074,686 5,357,925 1247,648 1775,613 1102,740 914,904 3760,092 866,514 500,085 813,216 708,572 2421,108 Redemption fund for F. R. notes 850.100 53,708 146,377 60,595 83.235 73,248 59,579 142.499 49,721 25,672 39,678 30.651 85.137 Total gold certificate reserves 21,393,203 1128,394 5,504,302 1308,243 1858,848 1175,988 974,483 3902,591 916,235 525,757 852,894 739,223 2506,245 Other cash 314,537 25,849 69,585 21,814 19,217 16,868 24,885 51,188 17,448 7,023 10,943 12,062 37,655 Discounts and advances 364,620 8,117 48,870 8,010 29,919 23,548 55,136 62,169 13,901 12,768 31,927 43,213 27,042 Industrial loans 2,320 —— —— 1,696 — 80 448 — — 96 — — —— U. S. Govt, securities ; Bought outright-- Bills 2,166,312 119,286 557,668 130,529 183,896 128,462 110,805 374,408 91,139 53,467 94,413 86,053 236,186 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 13,273,671 730,901 3,417,015 799,792 1126,789 787,129 678,935 2294,115 558,437 327,607 578,507 527,270 1447,174 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 24,957,674 1374,269 6,424,804 1503,800 2118,632 1479,990 1276,560 4313,485 1049,994 615,980 1087,730 991,394 2721,036 Held under repurchase agreement 16 5,000 - 1.6 5 % QQ Q—— — — —• — —~ Total U. S. Government securities 25.122.674 1374.269 6.589.804 1503.800 2118.632 1479.990 1276.560 4313.485 1049.994 615.980 1087.730 991.394 2721.036 Total loans and securities 25,489,614 1382,386 6,638,674 1513,506 2148,551 1503,618 1332,144 4375,654 1063,895 628,844 1119,657 1034,607 2748,078 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 160,703 4,152 27,581 8,295 7,347 21,142 16,303 15,477 10,117 9,513 7,107 9,249 24,420 Uncollected cash items 3,635,683 282,411 698,287 216,947 308,418 313,753 272,229 529,907 145,846 132,124 198,483 137,409 399,869 Bank premises 50,043 5,077 7,073 4,488 4,526 4,766 3,625 6,739 2,909 1,028 2,133 594 7,085 Other assets 223.807 13.349 55.788 13.201 19.934 13.157 12.258 37.531 9.154 5.440 10.463 9.342 24.185 TOTAL ASSETS 51,267,612 2841,619 13,001,296 3086,496 4366,843 3049,293 2635,928 8919,090 2165,605 1309,730 2201,686 1942,487 5747,539 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 COtiLxxiOiN OF THE FEDERAL RESERVE BANKS OK NOVEMBER 11, 1953 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Delias SanFran. L I A B I L I T I ES 26,237,641 1607,293 5,764,201 1860,711 2431,089 1399,868 5057,017 1018,423 2657,052 Federal Reserve notes 1851,113 1203,916 642,985 743,973 Deposits: Member bank-reserve accts. 19,629,548 839,848 5,875,076 907,098 1515,197 824,742 867,578 3199,986 730,362 487,026 916,452 977,330 2488,853 U.S.Treasurer-general acct 321,677 22,639 33,332 14,324 23,665 18,078 33,117 37,627 25,741 22,620 22,843 20,813 46,878 19,015 60,581 19,899 44,681 Foreign 448,897 26,974 1/137,127 33,165 40,682 22,110 16,804 11,055 16,804 Other 534,297 6,760 322,871 1,355 4,461 2,513 24,063 2.056 15,665 27,481 36,478 1.227 89,367 Total deposits 20,934,419 896.221 6,368,406 955,942 1584,005 867,443 943,773 3300,250 788,572 548,182 992,577 1019,269 2669,779 Deferred avail, cash items 3,013,828 271.222 563,302 190,013 252,909 273,496 243,137 410,416 129,723 89,679 147,896 129,901 312,134 Other liabilities and accrued dividends 21,741 m. 6,890 1,153 2,148 1,089 1,020 3,331 823 583 841 831 2,095 TOTAL LIABILITIES 50,207,629 2775,673 12,702,799 3007,819 4270,151 2993,141 2587,798 8771,014 2123,034 1281,429 2159,737 1893,974 5641,060 Capital paid in 262,987 14,344 81,616 17,997 24,883 11,424 11,070 34,560 9,002 5,854 10,032 13,228 28,977 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 184,777 12,129 42,059 12,613 16,739 12,131 10,495 27,459 9,420 6,243 8,855 8,597 18,037 TOTAL LIABILITIES AND 51,267,612 2635,928 8919,090 2165,605 2201,686 CAPITAL ACCOUNTS 2841,619 13,001,296 3086,496 4366,843 3049,293 1309,730 1942,48? 5747,539 Contingent liability on acceptances purchased for foreign correspondents 20,969 1,279 2/ 6,191 1,572 1,928 1,048 901 2,872 797 524 797 943 2,117 Industrial loan commitments 3,101 1,281 748 52 136 29 855 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,123,372 1654,504 5,954,631 1943,856 2510,373 1919,905 1458,928 5143,282 1244,865 654,784 1045,063 779,763 2813,418 Collateral for F.R. notes: 11,493,000 640,000 3,220,000 775,000 1000,000 600,000 385,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Gold certificates Eligible paper 138,627 7,690 21,230 7,485 23,198 13,635 12,593 31,661 21,135 U. S. Govt, securities 16,620!000 12Qo!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 28,251,627 1847,690 6,141,230 1982,485 2550,000 1973,198 1485,000 5300,000 1343,635 687,593 1111,661 800,000 3021,135 1/ After deducting $311,751,000 participations of other Federal Reserve Banks. 2/ After deducting $14,778,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis