H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 10, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 9, Member bank reserves increased $246 million. The principal changes supplying reserves were an increase of $379 million in Reserve Bank credit and a decrease of $38 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $113 million in Money in circulation and $60 million in Foreign deposits with Federal Reserve Banks. The increase of $379 million in Reserve Bank credit resulted from increases of $301 million in Loans, discounts and advances, $164 million in U. S. Government securities held under repurchase agreement, and $100 million in U. S. Government securities bought outright, and a decrease of $186 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $150 million in bills and decreases of $25 million in certificates, $15 million in bonds, and $10 million in notes. Change since Member Bank Reserves Dec. 9, Dec. 2, Dec. 10, and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 25,143 +100 +1,356 Held under repurchase agreement 202 +164 - 250 Loans, discounts and advances 730 +301 -1,026 Float 606 -186 - 260 Total 26,681 +379 - 179 Gold stock 22,028 -1,309 Treasury currency outstanding 4,883 + 1 + 79 Money in circulation 30,904 +113 + 534 Treasury cash holdings 778 + 4 - 502 Treasury deposits with F. R. Banks 488 - 38 - 157 Foreign deposits with F. R. Banks 491 + 60 - 229 Other deposits with F, R. Banks 331 - 8 + 15 Other F. R. accounts (net) 880 + 2 + 78 Member bank reserves 19,720 +246 -1,148 Required reserves (estimated) 18,999 -119 -1,289 Excess reserves (estimated) 721 +365 + l4l Daily averages for period— Estimated excess reserves of member banks 665 + 68 + 44 Member bank borrowings at F. R. Banks 671 + 66 -1,081 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,680 million, a decrease of $11 million for the week and an increase of $466 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Dec. 9, Dec. 2, Dec. 10, 1953 1953 , 1952 A S S E TS Gold certificates 20,469,103 31,999 - 907,001 Redemption fund for F. R. notes 876,001 + 28,755 + 109,151 Total gold certificate reserves 21,345,104 - 3,244 - 797,850 Other cash 301,166 - 9,080 + 23,872 Discounts and advances 727,269 + 300,514 -1,024>863 Industrial loans 2,402 4l 1,059 — U. S. Government securities: Bought outright-- Bills 2,421,312 + 150,000 +1,925,862 Certificates 5,816,541 25,000 + 820,825 - Notes 13,263,671 - 10,000 - 510,000 Bonds 3,641,150 - 15,000 - 880,825 Total bought outright 25,142,674 + 100,000 +1,355,062 Held under repurchase agreement 202,250 + 164,250 - 249,600 Total U. S. Government securities 25,344,924 + 264.250 +1,106,262 Total loans and securities 26,074,595 + 564,723 + 80,340 Due from foreign banks 22 * 1 mm F. R. notes of other banks 158,485 + 16,231 - 24,384 Uncollected cash items 3,483,433 - 475,000 - 169,053 Bank premises 50,360 2 + 4,624 - Other assets 185,494 + .. 8,359 - 11,393 TOTAL ASSETS 51,598,659 + 101,987 - 893,845 L I A B I L I T I ES Federal Reserve notes 26,576,315 + 120,917 + 463,547 Deposits: Member bank--reserve accounts 19,719,748 + 246,123 -1,148,105 U. S. Treasurer--general account 487,652 - 38,159 - 157,351 Foreign 490,980 + 60,081 - 228,525 Other .... 331,330 8,066 + 15,126 - Total deposits 21,029,710 + 259,979 -1,518,855 Deferred availability cash items 2,877,253 - 288,946 + 90,972 Other liabilities and accrued dividends 23,07.9 + 1,981 + 810 TOTAL LIABILITIES 50,506,357 + 93,931 - 963,526 C A P I T AL A C C O U N TS Capital paid in 263,739 + 181 + 14,945 Surplus (Section 7) 584,676 - - + 46,334 Surplus (Section 13b) 27,543 — «• mm — Other capital accounts 216.344 + 7,875 + 8,402 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,598,659 + 101,987 - 893,845 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined ^ 44.8$ - .4$ .7 % Contingent liability on acceptances purchased for foreign correspondents 21,518 + 856 + 3,380 Industrial loan commitments 3,154 + 25 853 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, December 9, 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 697,183 451 725,608 16 to 90 days 30,086 599 5,585,504 91 days to 1 year 1,289 2,815,541 Over 1 year to 5 years 63 13,429,014 Over 5 years to 10 years 1,374,400 Over 10 years 1.414.857 Total 727,269 2,402 25,344,924 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 DECEMBER % 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 20,469,103 1061,803 5,273,859 1285,778 1779,561 1115,095 935,252 3701,713 842,349 506,018 816,602 728,589 2422,484 Redemption fund for F. R. notes 876,001 55,27% 155,063 61,77% 82,664 80,145 59,106 151,921 49,546 25,616 39,542 30,518 84,832 Total gold certificate reserves 21,345,104 1117,077 5,428,922 1347,552 1862,225 1195,240 994,358 3853,63k 891,895 531,634 856,144 759,107 2507,316 Other cash 301,166 23,026 63,838 23,470 17,069 15,641 27,371 48,952 18,423 6,365 10,433 11,547 35,031 Discounts and advances 727,269 10,252 237,765 21,315 60,724 33,750 55,001 167,959 46,051 10,613 32,758 40,574 10,507 Industrial loans. 2,402 — — — — 1,8l0 •** 60 438 - — 94 — — —— U. S. Govt, securities: Bought outright— Bills 2,421,312 133,327 623,313 145,894 205,543 143,585 123,848 4l8,48l 101,867 59,760 105,528 96,181 263,985 Certificates 5,816,54l 320,281 1,497,341 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 231,051 634,154 Notes 13,263,671 730,351 3,414,440 799,189 1125,940 786,536 678,424 2292,387 558,015 327,360 578,071 526,873 1446,085 Bonds 3,641,150 200,497 937,334 219,394 309,094 215,919 l86,24l 629,306 153,186 89,868 158,693 144,637 396,981 Total 25,142,674 1384,456 6,472,428 1514,947 2134,337 1490,961 1286,023 4345,459 1057,777 620,546 1095,793 998,742 2741,205 Held under repurchase agreement 202,250 202,250 *** **~ —~ ~ — ~~ — — — — ^ — — Total U. S. Government Securities 25,344,924 1384,456 6.674,678 1514,947 2134,337 1490,961 1286,023 4345,459 1057,777 620,546 1095,793 998,742 2741,205 Total loans and securities 26,074,595 1394,708 6,912,443 1538,072 2195,061 1524,771 1341,462 4513,4l8 1103,828 631,253 1128,551 1039,316 2751,712 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 158,485 4,405 23,4l8 8,249 8,878 21,712 22,856 18,472 9,438 6,624 7,219 8,590 18,624 Uncollected cash items 3,483,433 268,268 643,213 215,413 307,562 300,797 250,048 559,111 162,190 99,673 178,755 176,096 322,307 Bank premises 50,360 5,064 7,051 4,686 4,541 4,738 3,649 6,732 2,902 1,026 2,242 590 7,139 Other assets 185,494 11,103 46,386 10,920 16,351 10,880 10,225 31,157 7,474 4,496 8,576 7,813 20,113 TOTAL ASSETS 51,598,659 2823,652 13,125,277 3148,364 4411,689 3073,780 2649,970 9031,479 2196,151 1281,072 2191,921 2003,060 5662,244 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(c) STATEMENT 0? CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 9, 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. Kane.Cy. Dallas SanFran. Federal Reserve notes 26,576,315 1639,808 5,884,731 1899,693 2470,862 1860,088 1415,828 5093,713 1218,858 647,643 1026,084 754,020 2664,987 Deposits: Member bank-reserve accts. 19,719,748 801,531 5,933,97% 911,282 1484,927 836,204 895,488 3231,576 747,586 474,690 920,352 994,878 2487,260 U.S.Treasurer-general acct. 487,652 32,180 59,738 36,304 58,679 37,450 54,749 42,277 30,211 28,679 34,243 30,813 42,329 Foreign 490,980 29,494 1/150,093 36,263 44,482 24,175 20,790 66,239 18,373 12,088 18,373 21,758 48,852 4,767 274,166 1,314 4,770 2,403 604 729 6,353 1,182 32,785 Other TToottaall ddeeppoossiittss 21,029,710 867,972 6,417,971 985,163 1592,858 900,232 971,631 3340,821 802,523 516,757 974,150 1048,4o6 2611,226 DDeeffeerrrreedd aavvaaiill,, ccaasshh iitteemmss 2,877,253 247,376 507,636 181,804 246,203 254,346 211,792 439,689 130,187 87,024 147,470 150,014 273,712 Other liabilities and accrued dividends 23,079 1,016 7,671 1,196 2,280 1,134 11,,001144 33,,558877 776633 661111 883311 886633 2,113 TOTAL LIABILITIES 50,506,357 2756,172 12,818,009 3067,856 4312,203 3015,800 2600,265 8877,810 2152,331 1252,035 2l48,f35 1953,303 5552,038 Capital paid in 263,739 14,361 81,752 18,023 25,053 11,481 11,082 34,634 9,025 5,876 10,057 13,239 29,156 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 1,0C6 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts 216,344 13,646 50,694 l4,4l8 19,363 13,902 12,058 32,978 10,646 6,957 10,267 9,830 21,585 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,598,659 2823,652 13,125,277 3148,364 4411,689 3073,780 2649,970 9031,479 2196,151 1281,072 2191,921 2003,060 5662,244 Contingent liability on acceptances purchased for foreign correspondents 21,518 1,313 2/6,345 l,6l4 1,980 1,076 925 2,949 818 538 818 968 2,174 Industrial loan commitments 3,154 1,355 748 51 133 28 839 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,585,345 1703,640 6,155,636 1972,915 2547,732 1942,717 1478,206 5210,710 1267,866 659,318 1054,028 784,946 2807,631 Collateral for F.R. notes: Gold certificates 11,693,000 640,000 3,320,000 800,000 1050,000 600,000 4104,01000,000 22440000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 380,730 9,825 223,200 16,790 ' — 33,400 — 45,785 10,438 32,492 --- 8,800 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 28,693,730 1849,825 6,443,200 2016,790 2600,000 1983,400 1510,000 5300,000 1375,785 685,438 1112,492 808,000 3008,800 l/ After deducting $340,868,000 participations of other Federal Reserve Banks. 2/ After deducting $15,174,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis