H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) December 3, I953 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended December 2, Member bank reserves decreased $301 million. The principal changes reducing reserves were a decrease of $126 million in Reserve Bank credit and increases of $100 millio nin Money in circulation and $73 million in Other F. R. accounts (net). The decrease of $126 million in Reserve Bank credit resulted from a decrease of $341 million in Loans, discounts and advances and increases of $156 million in Float, $50 million in U. S. Government securities bought outright, and $9 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected an increase of $70 million in bills and decreases of $10 million in certificates and $10 million in bonds. Change since Member Bank Reserves Dec. 2, Nov. 25, Dec. 3 and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,043 + 50 +1,331 Held under repurchase agreement 38 + 9 - 218 Loans, discounts and advances 429 -341 -1,166 Float 792 +156 - 396 Total 26,302 -126 - 449 Gold stock 22,028 + 1 -1,309 Treasury currency outstanding 4,882 + 3 + 79 Money in circulation 30,791 +100 + 517 Treasury cash holdings 774 - 3 - 504 Treasury deposits with F. R. Banks 526 + 4 - 193 Foreign deposits with F. R. Banks 431 + 2 - 303 Other deposits with F. R."Banks 339 + 4 + 192 Other F. R. account s(net) 878 + 73 + 78 Member bank reserves 19,474 -301 -1,465 Required reserves (estimated) 19,118 + 86 -1,253 Excess reserves (estimated) 356 -387 - 212 Daily averages for period-- Estimated excess reserves of member banks 597 -156 i- 9 Member bank borrowings at F. R. Banks 605 +114 -1,068 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,691 million, an increase of $10 million for the week and an increase of $440 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 COMBINED (In thousands of dollars) Change since Dec. 2, Nov. 25 Dec. 3, f 1953 1953 1952 A S S E TS Gold certificates 20,501,102 7,999 - 914,001 + Redemption fund for F. R. notes 847,246 2,000 + 117,298 . + Total gold certificate reserves 21,346,34b 9,999 - 796,703 + Other cash 310,246 13,289 + 25,022 - Discounts and advances 426,755 340,840 -1,164,443 - Industrial loans 2,443 21 1,179 + U. S. Government securities: Bought outright-- Bills 2,271,312 4* 70,000 +1,850,862 Certificates 5,841,541 - 10,000 + 845,825 Notes 13,273,671 - 500,000 Bonds 3,656,150 10,000 - 865,925 - Total bought outright 25,042,674 50,000 +1,330,862 + Held under repurchase agreement 38,000 9,000 - 218,300 + Total U. S. Government securities 25,080,674 59,000 +1,112,562 + Total loans and securities 25,509,872 281,819 - 53,060 Due from foreign banks 22 1 — — F. R. notes of other banks 142,254 - 12,829 - 22,573 Uncollected cash items 3,958,433 233,036 + 32,766 + Bank premises 50,362 4- 146 + 4,650 Other assets 177,135 66,471 - 11,478 * TOTAL ASSETS 51,496,672 131,227 - 821,377 - L I A B I L I T I ES Federal Reserve notes " 26,455,398 76,392 + 448,308 + Deposits: Member bank--reserve accounts 19,473,625 - 301,662 -1,465,136 U, S. Treasurer--general account 525,811 + 4,182 - 193,231 Foreign 430,899 + 1,569 - 303,104 Other 339,396 + 4,626 + 192,810 Total deposits 20,769,731 291,285 -1,768,661 - Deferred availability cash items 3,166,199 76,860 + 428,172 + Other liabilities and accrued dividends 21,098 1,049 + 1,597 - TOTAL LIABILITIES 50,412,426 139,082 - 890,584 - C A P I T AL A C C O U N TS Capital paid in 263,558 333 + 14,890 Surplus (Section 7) 584,676 + 46,334 Surplus (Section 13b) 27,543 Other capital accounts 208,469 7,522 + 7,983 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,496,672 131,227 - 821,377 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.2# + . 2$ M Contingent liability on acceptances purchased for foreign correspondents 20,662 + 760 + 3,298 Industrial loan commitments 3,129 - 99 - 811 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 2, 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 393,325 473,806 l6 to 90 days 33,347 635 5,523,054 91.days to 1 year 83 l,28l 2,860,=41 Over 1 year to 5 years 63 13,434,014 Ovet- 5 years to 10 years 1,374,400 Ovet* 10 years Total 426,755 "2,443" 25,080,674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON DECEMBER 2, 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 20,501,102 1064,222 5,539,037 1275,049 l800,4ll 1095,823 877,544 3774,948 807,616 503,596 704,615 682,451 2375,790 Redemption fund for F. R. notes 847,246 53,4?6 145,546 62,171 82,918 71,304 59,278 142,150 49,621 25,639 39,596 30,583 84,964 Total gold certificate reserves 21,348,348 1117,698 5,684,583 1337,220 1883,329 1167,127 936,822 3917,098 857,237 529,235 744,211 713,034 2460,754 Other cash 310,246 23,454 68,539 23,656 20,306 16,843 25,481 48,720 18,653 6,493 10,768 12,064 35,269 Discounts and advances 426,755 1,802 29,310 7,185 27,204 43,150 49,401 97,759 52,8ll 12,038 56,228 37,260 12,607 Industrial loans 2,443 - — — — 1,838 •— 70 44l —* —— 94 —— —— ——— U. S. Govt, securities: Bought outright-- Bills 2,271,312 125,067 584,699 136,855 192,810 134,690 116,176 392,555 95,556 56,058 98,990 90,223 247,633 Certificates 5,841,541 321,660 1,503,776 351,976 495,882 346,402 298,789 1009,605 245,759 144,175 254,592 232,044 636,881 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 3,656,150 201,322 941,195 220,298 310,367 2l6,8l0 187,008 631,900 153,818 90,238 159,346 145,233 398,615 Total 25,042,674 1378,950 6,446,605 1508,921 2125,848 1485,031 1280,90b 4328,17 51053,570 618,078 1091,435 994,770 2730,303 Held under repurchase agreement 38,000 — — 38,000 **• _ •• — — —— — — —— — — —— Total U. S. Government securities 25,080,674 1378,950 6,484,685 1508,921 2125,848 1485,031 1280,908 4328,175 1053,570 618,078 1091,435 994,770 2730,303 Total loans and securities 25,509,872 1380,752 6,513,995 1517,944 2153,052 1528,251 1330,750 4425,934 1106,381 630,210 1147,663 1032,030 2742,910 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other bank s142,254 3,444 21,475 7,455 8,055 19,252 17,707 16,472 8,790 8,144 5,373 8,419 17,668 Uncollected cash items 3,958,433 317,098 752,334 259,422 367,124 323,083 249,762 672,240 170,750 112,282 211,094 168,259 354,985 Bank premises 50,362 5,064 7,054 4,685 4,541 4,738 3,649 6,732 2,902 1,026 2,242 590 7,139 other assets 177,135 10,599 44,213 10,4l6 15,701 10,386 9,818 29,697 7,186 4,309 8,175 7,48l 19,154 TOTAL ASSETS 51,496,672 2858,110 13,092,199 3160,800 4452,110 3069,681 2573,990 9116,896 2171,900 1291,700 2129,527 1941,878 5637,881 l/ After deducting $16,000 participation sof other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF COEDIHON OF THE FEDERA LRESERVE BANKS ON DECEMBER 2, 1953 HA.1(c) (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 San?ran. 26,455,398 1631,273 5,847,800 1890,817 2451,477 1854,916 1409,291 5081,831 1212,412 644,871 1021,465 752,375 2656,870 Federal Reserve notes Deposits: Member bank-reserve accts.1 9,473,625 808,370 5,842,384 913,908 1519,113 828,927 856,078 3254,735 732,886 478,290 855,037 932,472 2451,425 U.S.Treasurer-general acct 525,811 38,227 103,411 32,262 45,751 44,523 31,022 76,479 25,445 29,819 25,807 35,384 37,681 Foreign 430,899 25,779 1/132,947 31,695 38,879 21,130 18,172 57,896 16,059 10,565 16,059 19,017 42,701 Other 339,396 3,509 281,139 1,341 4,735 2,371 797 1,365 7,418 1,707 1,258 987 32,769 Total deposits 20,769,731 875,885 6,359,881 979,206 1608,478 896,951 906,069 3390,475 781,808 520,381 898,161 987,860 2564,576 Deferred avail, cash items 3,166,199 282,983 573,096 209,568 290,988 259,130 208,383 488,921 133,478 96,992 166,127 151,368 305,165 Other liabilities and accrued dividends 21,098 1,029 6,251 1,145 2,330 1,150 908 3,313 766 600 823 813 1,970 TOTAL LIABILITIES 50,412,426 2791,170 12,787,028 3080,736 4353,273 3012,147 2524,651 8964,540 2128,464 1262,844 2086,576 1892,416 5528,581 Capital paid in 263,558 14,349 81,707 18,011 25,036 11,470 11,074 34,605 9,013 5,876 10,056 13,236 29,125 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 208,469 13,118 48,642 13,986 18,731 13,467 11,700 31,694 10,274 6,776 9,833 9,538 20,710 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,496,672 2858,110 13,092,199 3160,800 4452,110 3069,681 2573,990 9116,896 2171,900 1291,700 2129,527 1941,878 5637,881 Contingent liability on acceptances purchased for foreign correspondents 20.662 1,260 2/ 6,095 1,550 1,901 1,033 888 2,831 785 517 785 930 2,087 Industrial loan commitments 3,129 1,329 748 51 133 29 839 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,389,141 1682,988 6,048,678 1965,457 2530,211 1923,757 1480,873 5190,656 1261,919 655,764 1052,373 785,191 2811,274 Collateral for F.R. notes: Gold certificates 11,518,000 640,000 3,220,000 775,000 1000,000 600,000 410,000 2400,coo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 204,725 1,375^ I .z 26,620 6,660 42,800 52,545 11,863 55,962 6,900 U. S. Govt, securities 16,620.000 1200,000 2,900,000 1200,000 1550,000 1350,000 1100,000 2900,00 0975,000 500,000 800,000 525,000 1620,000 Total collateral 28,342,725 1841,375 6,146,620 1981,660 2550,000 1992,800 1510,000 5300,000 1382,545 686,863 1135,962 808,000 3006,900 1/ After deducting $297,933,000 participations of other Federa lReserve Banks. 2/ After deducting $14,567,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis