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 23, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the period ended December 22, Member bank reserves decreased $237 million. The principal changes reducing reserves were increases of $678 million in Treasury deposits with Federal Reserve Banks, $210 million in Money in circulation, and $157 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $787 million in Reserve Bank credit and decreases of $11 million in Treasury cash holdings and $10 million in Foreign deposits with Federal Reserve Banks. The increase of $787 million in Reserve Bank credit resulted from increases of $379 million in U. S. Government securities held under repurchase agreement, $269 million in Float, $75 million in U. S. Government securities bought outright, and $65 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $75 million in bills. NOTE: Next week's statement will be issued Wednesday, December 30, as of Tuesday, December 29. In that statement comparisons with this week will be made with figures for Wednesday, December 23. December 23 figures will also be used in the tables published in the Federal Reserve Bulletin. Change since Member Bank Reserves Dec. 22, Dec. 16, Dec. 24, and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,318 + 75 +1,321 Held under repurchase agreement 593 +379 - 23 Loans, discounts and advances 336 + 65 -1,396 Float 1,462 +269 - 54 Total 27,708 +787 - 152 Gold stock 22,029 + 1 -1,157 Treasury currency outstanding 4,885 + 1 + 76 Money in circulation 31,163 +210 + 431 Treasury cash holdings 758 - 11 - 508 Treasury deposits with F. R. Banks 902 +678 + 237 Foreign deposits with F. R. Banks 454 - 10 - 275 Other deposits with F. R. Banks 416 +157 + 215 Other F. R. accounts (net) 938 + 2 + 75 Member bank reserves 19,992 -237 -1,408 Required reserves (estimated) 19,111 -165 -1,420 Excess reserves (estimated) 881 - 72 + 12 Daily averages for period— Estimated excess reserves of member banks 794 + 24 - 30 Member bank borrowings at F. R. Banks 517 + 87 - 926 U. S. Government securities held in custody by the Federal Reserve Banks' for foreign account were $2,738 million, an increase of $23 million for the period and an increase of $572 million from the comparable date a year ago. j . y 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) since Dec. 22, Dec. 16, Dec. 24, 1953 1953 1952 A S S E TS Gold certificates 20,460,104 + 1 - 750,001 Redemption fund for F, R. notes 878,643 2,928 + 103,040 - Total gold certificate reserves 21,338,747 - 2,927 - 646,961 Other cash 298,123 11,680 + 32,443 - Discounts and advances 333,626 + 65,189 -1,394,798 Industrial loans g. 2,378 + 87 1,513 U. S. Government securities: J ixA' Bought outright--'- 1-) gJ* Bills A / 2,596,312 + 75,000 +1,891,362 Certificates ^ 5,8l6,54l + 820,825 -- Notes 13,263,671 - 510,000 — —' Bonds 3.641.150 mm m* - 880.825 Total bought outright 25,317,674 + 75,000 +1,321,362 Held under repurchase agreement 592.800 + 378.600 - 23.400 Total U. S. Government securities 25.910.474 + 453.600 +1,297,962 Total loans and securities 26,246,478 + 518,876 - 98,349 Due from foreign banks 22 1 * — F. R. notes of other banks 158,153 + 344 - 34,251 Uncollected cash items 4,530,963 - 504,218 - 59,968 Bank premises 51,562 + 605 + 2,554 Other assets 1^2.806 + 7.484 10.024 TOTAL ASSETS 52,766,854 + 8,484 - 814,557 L I A B I L I T I ES Federal Reserve notes 26,801,949 + 182,949 + 355,590 Deposits: Member bank--reserve accounts 19,991,553 - 237,238 -1,408,222 U. S. Treasurer--general account 901,752 + 678,100 + 236,542 Foreign 454,162 - 9,446 - 274,527 Other 416,301 + 157.424 + 215,251 Total deposits 21,763,768 + 588,840 -1,230,956 Deferred availability cash items 3,069,382 - 772,567 6,019 Other liabilities and accrued dividends 24,717 + 1.950 + 847 TOTAL LIABILITIES 51,659,816 + 1,172 - 880,538 C A P I T AL A C C O U N TS Capital paid in ~ 264,823 + 667 + 12,557 Surplus (Section 7) 584,676 — — + 46,334 Surplus (Section 13b) 27,543 -- — — Other capital accounts 229,996 + 6,645 + 7.090 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,766,854 + 8,484 - 814,557 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.9% .8% .6* - Contingent liability on acceptances purchased for foreign correspondents 22,790 + 250 + 3,650 Industrial loan commitments 3,044 192 322 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 22, 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 313,626 880 1,129,450 l6 to 90 days 20,000 72 5,981,862 91 days to 1 year 1,368 9,855,241 Over 1 year to 5 years 58 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Digitized for T F o R t A a S l ER 333,626 "27378- 25,910,474 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 22 1953 T (In thousands of dollars) A S S ET S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,460,104 1125,904 5,084,216 1355,582 1782,392 1092,215 949,384 3764,132 849,922 506,789 797,160 775,770 2376,638 Redemption fund for F. R. notes 878,643 $4,927 163,706 61,085 82,247 76,974 58,813 151,495 49,407 25,562 39,453 30,399 84,575 " ' rmm"- * "• - - ' 1 Total gold certificate' reserves 21,338,74? 1180,831 5,247,922 l4l6,66? 1864,639 1169,189 1008,197 3915,627 899,329 532,351 836,613 806,169 2461,213 Other cash 298,123 20,619 60,255 21,028 16,438 15,686 25,835 56,081 19,811 6,181 11,521 11,462 33,206 Discounts and advances 333,626 4,595 105,750 8,125 28,580 27,950 28,945 51,655 9,970 9,700 15,760 25,48l 17,115 Industrial loans 2,378 — — 1,866 — 60 359 — __ 93 __ L __ U. S. Govt, securitiesr Bought outright— Bills 2,596,312 142,963 668,363 156,438 220,398 153,962 132,799 448,726 109,230 64,080 113,155 103,133 283,065 Certificates 5,816,541 320,281 1,497,341 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 231,051 634154 Notes 13,263,671 730,351 3,^14,440 799,189 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 25,317,674 1394,092 6,517,478 1525,491 2149,192 1501,338 1294,974 4375,704 1065,l4o 624,866 1103,420 1005,694 2760,285 Held under repurchase agreement 592,800 — 592,800 • ' ' ' 1 ' ' : ' 1 - : — : — Total U. S. Government " securities 25,910,474 1394,092 7,110,278 1525,491 2149,192 1501,338 1294,974 4375,704 1065,140 624,866 1103,420 1005,694 2760,285 Total loans and ~ securities 26,246,478 1398,687 7,216,028 1535,482 2177,772 1529,348 1324,278 4427,359 1075,110 634,659 1119,180 1031,175 2777,400 Due from foreign banks 22 l l/ 6 2 2 1 1 3 \ 1 1 1 2 F.R.notes of other bank s158,153 4,010 20,533 7,953 8,790 18,253 20,857 21,496 11,868 6,745 9,778 8,689 19,181 Uncollected cash items 4,530,963 370,36? 1,019,901 308,964 428,587 337,894 261,625 716,093 187,004 114,249 228,506 204,658 353 115 Bank premises 51,562 5,114 7,4l4 4,731 5,08o 4,712 3,644 6,732 2,902 1,026 2,244 590 7 373 Other assets 142,806 8,898 36,073 8,167 12,052 8,189 8,093 23,86? 5,718 3,424 6,757 6,283 15,285 i"0i!AL ASSETS 52,766,854 2988,527 13,608,132 3302,994 4513,360 3083,272 2652,530 9167,258 2201,743 1298,636 2214,600 2069,027 5666,775 Digitized for FRASER 1/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 22, 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 26,801,949 1662,395 5,953,416 1919,773 2497,463 1870,728 1433,776 5137,722 1227,017 651,432 1028,132 755,854 2664,241 Deposits: Member bank-reserve accts. 19,991,553 889,096 5,956,726 957,509 1518,578 833,992 907,685 3235,201 750,197 480,091 926,850 1037,487 2498,141 U.S.Treasurer-general acct. 901,752 55,438 210,845 80,578 71,653 62,360 36,122 160,914 28,934 39,423 42,182 47,836 65,467 Foreign 454,162 27,584 1/135,342 33,915 41,602 22,610 19,445 61,951 17,184 11,305 17,184 20,349 45,691 Other 416,301 1,918 746 Total deposits 21,763,768 975,174 6,662,034 1073,920 1637,089 920,719 963,998 3460,075 803,866 532,318 986,735 1106,212 2641,628 Deferred avail. cash items 3,069,382 281,628 672,682 226,778 275,537 231,960 203,380 409,326 125,681 84,925 154,943 155,571 224466,,997711 Other liabilities and accrued dividends 24,717 1,074 8,779, 1,234 2,309 1,017 1,000 3,897 743 616 794 1,017 2,237 TOTAL LIABILITIES 51,659,816 2920,271 13,296,911 3221,705 4412,398 3024,424 2602,154 9011,020 2157,307 1269,291 2170,604 2018,654 5555,077 Capital paid in 264,823 14,431 81,819 18,029 25,387 11,553 11,123 34,912 9,125 5,880 10,118 13,265 29,181 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,l4o Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,766,854 2988,527 13,608,1323 302,994 4513,360 3083,272 2652,530 9167,258 2201,743 1298,636 22l4,6oo 2069,027 5666,775 Contingent liability on acceptances purchased for foreign correspondents 22,790 1,375 2/6,897 1,691 2,074 1,127 969 3,088 857 564 857 1,014 2,277 Industrial loan commitments 3,044 1,247 748 51 131 28 839 - - - - - — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,755,789 1699,141 6,164,381 1994,193 2582,226 1953,398 1499,532 5261,151 1273,673 662,847 1060,107 788,190 2816,950 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,ooo 175,000 280,000 283,000 1380,000 Eligible paper 178,620 3,680 91,225 7,000 --- 27,200 — — - 9,400 9,325 15,190 - — — 15,600 U. S. Govt, securities 17,020,000 1200,000 3,200,000 1200,000 1550,000 1350,000 1100,0003 000,000 975,000 500,000 800,000 525,000 1620,000 Total collateral 28,666,620 1843,680 6,361,225 2007,000 2600,000 2002,200 1510,000 5400,000 1339,400 684,325 1095,190 808,000 3015,600 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