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 30, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the period ended December 29, Member bank reserves decreased $65 million. The principal changes reducing reserves were a decrease of $577 million in Reserve Bank credit and an increase of $11 million in Treasury cash holdings. The principal offsetting changes were decreases of $303 million in Treasury deposits with Federal Reserve Banks, $147 million in Money in circulation, and $62 million in Other deposits with Federal Reserve Banks. The decrease of $577 million in Reserve Bank credit resulted from decreases of $377 million in Float and $303 million in Loans, discounts and advances, and an increase of $103 million in U. S. Government securities held under repurchase agreement. NOTE: In next week's statement comparisons for this week will be made with figures for Wednesday, December 30. December 30 figures will also be used in the tables published in the Federal Reserve Bulletin. Change since Member Bank Reserves Dec. 29) , Dec. 23, Dec. 31 and Related Items 1953 1953 1952 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,318 +1,284 Held under repurchase agreement 671 +103 + 8 Loans, discounts and advances 134 -303 - 26 Float 992 -377 + 25 Total 27,115 -577 +1,290 Gold stock 22,029 - - -1,158 Treasury currency outstanding 4,889 + 3 + 77 Money in circulation 31,009 -147 + 576 Treasury cash holdings 774 + 11 496 Treasury deposits with F. R. Banks 496 -303 + 107 Foreign deposits with F. R. Banks 452 - 9 98 Other deposits with F. R. Banks 365 - 62 90 Other F. R. accounts (net) 937 + 160 -- Member bank reserves 19,999 - 65 + 49 Required reserves (estimated) 19,304 + 54 -1,216 Excess reserves (estimated) 695 -119 +1,265 Daily averages for period-- Estimated excess reserves of member banks 852 + 55 6 Member bank borrowings at F. R. Banks 232 -271 -1,471 U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,%l6 million, a decrease of $21 million for the period and an increase of $560 million from the comparable date a year ago. /(0?£ — ij2cc/. ijL'GKlA'ta' ,£u£ {fLahu • ,-k^JLJUo . /? 4^? /~R 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. 29, Dec- 23, Dec. 31, 1953 1953 1952 A S S E TS Gold certificates 20,438,103 20,000 - 746,999 Redemption fund for F, R. notes 900.644 + 20,000 + 100,041 Total gold certificate reserves 21,338,747 - 646,958 Other cash 321,349 + 22,969 671 Discounts and advances r 131,975 - 303,090 24,404 Industrial loans g 2,265 140 1,627 U S. Government securities; Bought outright- f Bills Cjh 2,596,312 __ +1,854,362 Certificates 5,816,541 + 820,825 • - Notes 13,263,671 - - - 510,000 Bonds 3,641,150 -» - 880,825 Total bought outright Held under repurchase agreement 9?0 103,250 7,250 Total U. S. Government securities 25,988.624 + 103,250 +1,291,612 Total loans and securities 26,122,864 199,980 +1,265,581 Due from foreign banks 22 1 F. R. notes of other banks 177,899 11,034 - 61,559 Uncollected cash items 4,301,653 201,316 + 62,874 Bank premises 51,635 91 + 3,287 Other assets 151,616 6,468 - ^ 9,262 TOTAL ASSETS 52,465,785 360,916 + 613,291 L I A B I L I T I ES Federal Reserve notes 26,702,672 - 105,371 + 452,373 Deposits: Member bank—reserve accounts 19,999,332 - 64,587 + 48,960 U. S. Treasurer--general account 495,981 - 303,346 + 107,173 Foreign 452,224 8,613 - 97,735 Other 365.253 - 62.012 89,662 Total deposits 21,312,790 - 438,558 Deferred availability cash items 3,309,875 + 176,221 - + — 38,314 Other liabilities and accrued dividends 2 5 ^8 + 320 + 11,035 TOTAL LIABILITIES 51,351,295 - 367,388 + 470,458 C A P I T AL A C C O U N TS Capital paid in 265,083 201 + 12,449 Surplus (Section 7) 584,676 Surplus (Section 13b) 27,543 Other capital accounts 237.188 ± 6^11 + 130,384 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,465,785 - 360,916 + 613,291 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 44A# + • 5$ - 1.8# Contingent liability on acceptances purchased for foreign correspondents 23,413 + 410 + 3,621 Industrial loan commitments 3,125 + 108 86 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 29, 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 120,525 821 1,110,350 16 to 90 days 11,450 72 6,079,112 91 days to 1 year 1,312 9,855,241 Over 1 year to 5 years 60 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years 1.414.857 Total Digitized for FRASER 131,975 2,265 25,988,624 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RE8EKV& BAjtfKb OiN 29, (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 20,438,103 1042,743 5,015,290 1323,833 1838,484 1129,070 941,069 3807,537 881,598 496,464 862,174 787,316 2312,525 Redemption fund for F. R. notes 900,644 54,927 183,706 61,085 82,247 76,97% 58,813 151,495 49,408 25,562 41,453 30,399 84,575 Total gold certificate reserves 21,338,747 1097,670 5,198,996 1384,918 1920,731 1206,044 999,882 3959,032 931,006 522,026 903,627 817,715 2397,100 Other cash 321,349 22,210 66,620 22,747 18,982 16,789 28,302 57,799 22,180 7,128 12,337 12,128 34,127 Discounts and advances 131,975 3,715 16,300 10,100 9,080 17,250 10,995 10,205 6,570 11,125 29,145 2,175 5,315 Industrial loans 2,265 — — 1,784 -- 60 329 — — 92 U» S* Govt, securities: 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 5,816,5^1 320,281 1,497,341 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 231,051 634,154 Motes 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 25,317,674 1394,092 6,517,478 1525,491 2149,192 1501,338 1294,974 4375,704 1065,140 624,066 1103,420 1005,694 2760,265 Held under repurchase agreement 670,950 21 670,950 zi II II II II 12. II . — -- Total U. S. Government "* securities 25,988,624 1394,092 7,188,428 1525,491 2149,192 1501,338 1294,974 4375,704 I065,l40 624,866 1103,420 1005,694 2760,285 Total loans and securities 26,122,864 1397,807 7,204,728 1537,375 2158,272 1518,648 1306,298 4385,909 1071,710 636,083 1132,565 1007,869 2765,600 Due from foreign banks 22 1 l/ 6 2 2 1 1 3 1 1 1 1 2 F.R.notes of Other banks 177,899 3,374 26,292 10,539 10,179 21,541 22,389 22,287 13,518 7,370 8,554 9,226 22,630 Uncollected cash items 4,301,653 387,130 870,481 258,303 440,999 346,196 236,890 734,457 188,952 100,377 210,838 157,082 369,948 Bank premises 51,635 5,091 7,4l4 4,734 5,289 4,712 3,636 6,633 2,898 1,024 2,244 590 7,370 Other assets 151,616 9,532 38,160 8,689 12,783 8,816 8,570 25,476 6,086 3,6l4 7,123 6,594 16,173 TOTAL ASSETS 52,465,785 2922,815 13,412,697 3227,307 4567,237 3122,747 2605,968 9191,596 2236,351 1277,623 2277,289 2011,205 5612,950 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 29, 1953 H.4.l(c) (in thousands of dollars) L I A B I L IT I BS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 26,702,672 1656,933 5,933>92 1914,775 2485,668 1865,845 1427,836 5121,469 1218,519 647,596 1023,038 751,866 2655,635 Deposits: Member bank-reserve accts. 19,999,332 844,498 6,009,738 952,621 1549,649 842,433 893,882 3279,717 748,597 479,676 953,217 1025,843 2419,461 U.S.Treasurer-general acct. 495,981 31,369 55,722 45,434 50,710 35,989 30,906 63,354 30,723 28,241 47,851 34,502 41,180 Foreign 452,224 27,450 1/134,955 33,750 41,400 22,500 19,350 61,650 17,100 11,250 17,100 20,250 45,469 Other 365,253 3,652 300,602 1,665 5,678 1,218 898 915 8,606 1,960 4,954 585 34,520 Total deposits 21,312,790 906,969 6,501,017 1033,470 1647,437 902,i4o 945,036 3405,636 805,026 521,127 1023,122 1081,180 2540,630 Deferred avail. cash items 3,309,875 289,183 655,771 196,089 330,189 294,282 181,273 502,906 167,230 78,814 185,922 126,412 301,804 Other liabilities and accrued dividends 25,958 1,107 9,005 1,267 2,520 1,132 1,076 4,057 791 630 910 1,107 2,356 TOTAL LIABILITIES 51,351,295 2854,192 13,099,285 3145,601 4465,814 3063,399 2555,221 9034,068 2191,566 1248,16? 2232,992 1960,565 5500,425 Capital paid in 265,083 14,443 81,851 18,029 25,410 11,580 11,158 34,974 9,143 5,892 10,122 13,270 29,211 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 237,188 14,707 56,739 15,610 20,943 15,171 13,024 36,497 11,493 7,360 11,113 10,682 23,849 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,465,785 2922,815 13,412,697 3227,307 4567,237 3122,747 2605,968 9191,596 2236,351 1277,623 2277,289 2011,205 5612,950 Contingent liability on acceptances purchased for foreign correspondents 23,413 1,404 2/7,193 1,726 2,117 1,150 989 3,152 874 575 874 1,035 2,324 Industrial loan commitments 3,125 1,328 748 51 131 28 839 FEDERAL RESERVE AGENTS' ACCOUNTS F. E. notes outstanding 27,793,834 1709,295 6,169,313 1998,326 2581,047 1962,305 1505,508 5274,678 1272,376 664,724 1059,539 789,610 2807,113 Collateral for F.R. notes: Gold certificates 11,093,000 64o,ooo 2,670,000 800,000 1050,000 625,000 43453,50,00000 22440o0o,,0o0o0o 355,000 175,000 280,000 283,000 1380,000 Eligible paper 85,170 2,800 7,770 8,975 — 16,500 --- --- 6,000 10,750 28,575 --- 3,800 U* S, Govt, securities 17,420,000 1200,000 3,600,000 1200,000 1550,000 1350,000 1100,000 3000,000 975,000 500,000 800,000 525,000 1620,000 Total collateral 28,598,170 1842,800 6,277,770 2008,975 2600,000 1991,500 1535,000 5400,000 1336,000 685,750 1108,575 808,000 3003,800 l/ After deducting $317,250,000 participations of other Federal Reserve Banks. 2/ After deducting $16,220,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis