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 17, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 16, Member bank reserves increased $509 million. The principal changes supplying reserves were an increase of $240 million in Reserve Bank credit and decreases of $264 million in Treasury deposits with Federal Reserve Banks, $72 million in Other deposits with Federal Reserve Banks, and $27 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $56 million in Other F. R. accounts (net) and $49 million in Money in circulation. The increase of $240 million in Reserve Bank credit resulted from increases of $587 million in Float, $100 million in U. S. Government securities bought outright, and $12 million in U. S. Government securities held under repurchase agreement, and a decrease of $459 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $100 million in bills. NOTE: Next week's statement will be issued on Wednesday, December 23, as of Tuesday, December 22. Change since Member Bank Reserves Dec. 16, Dec. 9} Dec. 17, and Related Items 1953 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,243 +100 +1,329 Held under repurchase agreement 214 + 12 - 341 Loans, discounts and advances 271 -459 - 755 Float 1,193 +587 - 350 Total 26,921 +240 - 118 Gold stock 22,028 -1,249 - — Treasury currency outstanding 4,884 + 1 + 78 Money in circulation 30,953 + 49 + 466 Treasury cash holdings 769 - 9 - 500 Treasury deposits with F. R. Banks 224 -264 - 147 Foreign deposits with F. R. Banks 464 - 27 - 265 Other deposits with F. R. Banks 259 - 72 + 51 Other F. R. accounts (net) 936 + 56 + 76 Member bank reserves 20,229 +509 - 969 Required reserves (estimated) 19,276 +277 -1,306 Excess reserves (estimated) 953 +232 + 337 Daily averages for period-- Estimated excess reserves of member banks 770 +105 + 59 Member bank borrowings at F. R. Banks 430 -241 -1,071 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,715 million, an increase of $35 million for the week and an increase of $514 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 Dec. 16, Dec* 9, Dee. 17, 1953 1953 1952 A S S E TS Gold certificates 20,460,103 - 9,000 - 844,998 Redemption fund for F. R. notes 881,571 + 5,570 + 108,395 Total gold certificate reserves 21,341,674 - 3,430 * 736,603 Other cash 309,803 + 8,637 + 19,774 Discounts and advances 268,437 - 458,832 - 754,005 Industrial loans 2,291 - 111 1,399 U. S. Government securities: Bought outright Bills 2,521,312 + 100,000 ++11,,889988,,336622 Certificates 5,8l6,54l — — + 820,825 Notes 13,263,671 — - 510,000 Bonds 3,641,150 - 880,825 - — Total bought outright 25,242,674 + 100,000 +1,328,362 Held under repurchase agreement 214,200 + 11,950 - 340,900 Total U. S. Government securities 25,456,874 + 111,950 + 987,462 . Total loans and securities 25,727,602 346,993 + 232,058 Due from foreign banks 22 -- 1 F. R. notes of other banks 157,809 - 676 - 26,573 Uncollected cash items 5,035,181 +1,551,748 - 596,997 Bank premises 50,957 + 597 + 2,003 Other assets 135,322 50,172 8,284 — TOTAL ASSETS 52,758,370 +1, 159,711 -1,114,623 L I A B I L I T I ES Federal Reserve notes 26,619,000 + 42,685 ++ 339933,,009933 Deposits: Member bank—reserve accounts 20,228,791 + 509,043 - 969,042 U. S. Treasurer-general account 223,652 • 264,000 - 147,586 Foreign 463,608 - 27,372 - 265,423 Other 258,877 - 72,453 + 51,333 Total deposits 21,174,920 + 145,218 -1,330,718 Deferred availability cash items 3,841,949 + 964,696 - 246,813 Other liabilities and accrued dividends 22,767 - 312 + 1,299 TOTAL LIABILITIES 51,650,644 +1,152,207 -1,183,139 C A P I T AL A C C O U N TS Capital paid in 264,156 + 417 + 13,912 Surplus (Section 7) 584,676 mm m. + 46,334 Surplus (Section 13b) 27,543 w — w mm Other capital accounts 223,351 + 7,007 + 8,270 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,758,370 +1,159,711 -1,114,623 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4444..77 $$ - .1$ M Contingent liability on acceptances purchased for foreign correspondents 2222,,554400 + 1,022 + 4,399 Industrial loan commitments 3,236 + 82 543 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER l6, 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 243,48? 952 "914,"358 16 to 90 days 24,950 75 5,743,354 91 days to 1 year 1,205 9,855,241 Over 1 year to 5 years 59 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years I.414.857 . Total 268,437 2,291 25,456,874 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 16, 1953 H.4.1(b) (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 20,460,103 1034,18? 5,567,513 1250,469 1728,726 1062,610 917,909 3759,595 846,424 469,812 804,405 691,617 2326,636 Redemption fund for F. R. notes 881,571 55,079 164,215 6l,353 82,421 78,279 58,923 151,666 49,455 25,589 39,484 30,437 84,670 Total gold certificate ; ; "reserves 21,341,674 1089,266 5,731,728 1311,822 l8ll,l47 ll4l,o89 976,832 3911,261 895,879 495,401 843,889 722,054 2411,306 Other cash 309,803 23,4ll 63,872 22,195 20,481 16,079 25,391 52,760 19,477 6,134 11,429 12,302 36,272 Discounts and advances 268,437 6,995 46,370 7,380 26,705 18,900 23,04$ 38,855 5,270 9,435 19,772 42,995 22,715 Industrial loans 2,291 — — 1,728 — 60 409 — — 94 U. S. Govt, securities: Bought outright— Bills 2,521,312 138,834 649,056 151,919 214,031 149,515 128,962 435,764 106,075 62,228 109,886 100,154 274,888 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 3,641,150 200,497 937,334 219,394 309,094 215,919 186,241 629,306 153,186 89,868 158,693 144,637 396,981 Total 25,242,674 1389,963 6,498,171 1520,972 2142,825 1496,891 1291,137 4362,742 1061,985 623,014 1100,151 1002,715 2752,108 Held under repurchase agreement 214,200 214,200 -- ~~ Total U. S. Government securities ' 25,456,874 1389,963 6,712,371 1520,972 2142,825 1496,891 1291,137 4362,742 1061,985 623,014 1100,151 1002,715 2752,108 Total loans and ~ securities*^ 25,727,602 1396,958 6,758,741 1530,080 2169,530 1515,851 1314,591 4401,597 1067,255 632,543 1119,923 1045,710 2774,823 Due from foreign banks 22 l l/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 157,809 4,690 23,115 8,583 8,816 20,600 19,429 20,046 8,870 8,140 7,541 9,230 18,749 Uncollected cash items 5,035,l8l 397,548 944,270 300,896 495,391 383,801 329,405 986,183 208,696 125,897 229,015 197,138 436,941 Bank premises 50,957 5,070 7,412 4,686 4,537 4,738 3,647 6,732 2,902 1,026 2,244 590 7,373 Other assets 135,322 8,48l 33,735 7,753 11,572 7,770 7,703 22,306 5,410 3,303 6,431 6,006 14,852 TOTAL ASSETS 52,758,370 2925,425 13,562,879 3186,017 4521,476 3089,929 2676,999 9400,888 2208,490 1272,445 2220,473 1993,031 5700,318 Digitized for FRASER 1/ After deducting $l6,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON DECEMBER l6, 1953 H.4.1(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 SanFran. Federal Reserve notes 26,619,000 1643,240 5,906,810 1904,575 2475,292 1864,555 1425,433 5099,852 1221,744 646,812 1022,081 753,013 2655,593 Deposits: Member bank-reserve accts. 20,228,791 864,304 6,084,249 936,061 1540,993 851,440 911,010 3361,163 753,771 479,678 964,616 995,084 2486,422 U.S..Treasurer-general acct. 223,652 495 215,171 417 511 867 838 1,341 534 354 1,045 1,069 1,010 Foreign 463,608 27,584 1/144,788 33,915 41,602 22,610 19,445 61,951 17,184 11,305 17,184 20,349 45,691 Other 3,895 196,542 2,248 4,016 2,400 1,640 1,178 8,194 1,609 1,391 641 35,123 Total deposits 21,174,928 896,278 6,640,750 972,641 1587,122 877,317 932,933 3425,633 779,683 492,946 984,236 1017,143 2:5 68,246 Deferred avail, cash items 3,841,949 317,028 698,521 226,714 356,831 288,632 267,670 716,720 162,252 102,629 169,743 171,801 363,408 Other liabilities and accrued dividends 22,767 1,107 7,420 1,159 2,138 995 903 3,600 723 00 00 785 1,011 2,068 TOTAL LIABILITIES 51,658,644 2857,653 13,253,501 3105,089 4421,383 3031,499 2626,939 9245,805 2164,402 1243,245 2176,845 1942,968 5589,315 Capital paid in 264,156 14,366 81,809 18,027 25,045 11,530 11,113 34,809 9,080 5,878 10,070 13,264 29,165 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 ljb) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,758,370 2925,425 13,562,679 3186,017 4521,476 3089,929 2676,999 9400,888 2208,490 1272,445 2220,473 1993,031 5700,318 Contingent liability on acceptances purchased for foreign correspondents 22,540 1,375 2/ 6,647 1,691 2,074 1,127 969 3,088 857 564 857 1,014 2,277 Industrial loan commitments 3,236 1,436 748 51 133 28 840 - - -- --- - ~ - - — - FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,678,936 1706,117 6,162,113 1991,634 2568,457 1944,672 1491,743 5221,152 1274,907 660,389 1052,735 787,951 2817,066 Collateral for F.R. notes: Gold certificates 11,468,000 640,000 3,070,000 800,000 1050,000 625,000 410,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 124,062 6,080 39,415 6,255 — 18,150 4,700 9,060 19,202 21,200 - ~ - - - - U. S. Govt, securities 17,020,000 1200,000 3,200,000 1200,000 1550,000 1350,000 1100,000 3000,000 975,000 500,000 800,000 525,000 1620,000 Total collateral 28,612,062 1846,080 6,309,415 2006,255 2600,000 1993,150 1510,000 5400,000 1334,700 684,060 1099,202 808,000 3021,200 l/ After deducting $318,801,000 participations of other Federal Reserve Banks. 2/ After deducting $15,893,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis