H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) January 7, 1954 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended January 6, Member bank reserves increased $118 million. The principal changes supplying reserves were decreases of $299 million in Money in circulation, $155 million in Treasury deposits with Federal Reserve Banks, $100 million in Other F. R. accounts (net), and $3^ million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $458 million in Reserve Bank credit and an increase of $17 million in Other deposits with Federal Reserve Banks. The decrease of $458 million in Reserve Bank credit resulted from decreases of $518 million in U. S. Government securities held under repurchase agreement and $10 million in Float, and an increase of $70 million in Loans, discounts and advances. Change since Member Bank Reserves Jan. 6,, Dec. 30, Jan. 7, and Related Items 1954' 1953 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,318 +1,284 Held under repurchase agreement 66 -518 - 291 Loans, discounts and advances 172 + 70 -1,168 Float 963 - 10 2 Total 26,519 -458 - 176 Gold stock 22,029 -1,108 - - Treasury currency outstanding 4,890 + 1 + 76 Money in circulation 30,591 -299 438 Treasury cash holdings 770 - 3 510 Treasury deposits with F. R. Banks 222 -155 400 Foreign deposits with F. R. Banks 440 - 34 131 Other deposits with F. R. Banks 397 + 17 54 Other F. R. accounts (net) 836 -100 60 Member bank reserves 20,184 +118 718 Required reserves (estimated) 19,410 + 68 8 99 Excess reserves (estimated) 774 + 50 181 Daily averages for period-- Estimated excess reserves of member banks 808 - 26 + 84 Member bank borrowings at F. R. Banks 96 -115 -1,382 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,583 million, a decrease of $120 million for the week and an increase of $415 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 6, Dec. 30, Jan. 7, 1954 1953 1953 A S S E TS Gold certificates 20,453,103 + 5,000 - 672,000 Redemption fund for F. R. notes 896,9,32 - 3,711 + 86.329 Total gold certificate reserves 21,350,035 + 1,289 - 585,671 Other cash " 383,156 + 42,931 + 24,086 Discounts and advances 169,951 + 69,851 -1,165,928 Industrial loans 1,931 - * 42 1,923 U. S. Government securities: Bought outright-- Bills 2,596,312 +1,854>362 Certificates 5,816,541 + 820,825 Notes 13,263,671 - 510,000 Bonds ,3,6^1,130 - 880.825 Total bought outright 25,317,674 +1,284,362 Held under repurchase agreement 66,000 - 518,500 - 291,400 Total U. S. Government securities 25,303,674 - 510,500 + 992,962 Total loans and securities 25,555,556 - 448,691 174,889 Due from foreign banks 22 1 F. R. notes of other banks 232,034 + 37,759 23,414 Uncollected cash items 4,014,772 - 266,886 + 228,013 Bank premises 52,455 + 573 + 4,118 Other assets 160,386 ± , 7,720 9,691 TOTAL ASSETS 51,748,418 -625,305 537,449 L I A B I L I T I ES Federal Reserve notes 26,406,259 - 222,063 + 374,156 Deposits: Member bank--reserve accounts 20,183,505 + 117,553 - 718,739 U. S. Treasurer--general account 221,616 - 155,240 - 399,923 Foreign 439,642 - 33,954 - 130,990 Other , 396,651 + 16.951 + 53,978 Total deposits 21,241,414 -54,690 -1,195,674 Deferred availability cash items 3,051,523 - 257,197 + 229,651 Other liabilities and accrued dividends 17,208 8,452 + ^1,971 TOTAL LIABILITIES 50,716,404 - 542,402 - 589,896 C A P I T AL A C C O U N TS Capital paid in ' "" 265,744 + 652 + 12,500 Surplus (Section 7) 625,013 + 40,337 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 113.714 - 123.892 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,748,418 - 625,305 - 537 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8% + .3$ .5% Contingent liability on acceptances purchased for foreign correspondents 24,633 + 702 + 4,335 Industrial loan commitments 3,508 + 44 + 331 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 6, 1954 (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 EH... * TR NR r 5 :: . * - -r 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 JANUARY 6, 1954 (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. SdempWoffund'for 2°A53'103 103°'0Z* 5,526,337 1234,709 1734,125 1036,390 914,975 3746,634 817,020 468,030 815,590 800,836 2328,383 F. R. notes #6,932 54,742 183,047 60,701 82,016 75,433 58,654 151,260 49.338 25,534 41,403 30,348 84.456 Total gold certificate reserves 21,350,035 1084,766 5,709,384 1295,410 1816,i4l 1111,823 973,629 3897,944 866,358 493,564 856,993 831,184 2412,839 ncea : 2 : 7 lk E5iE!*" ' tS 1 | ^ ' ® " ™ U. S. Govt, securities: ' 99 — Bought outright— Jk'I. Jia is II 1:1 IIIIII II ill IIIIII agreement 66,000 - 66,000 Total U. S. Government securities 25,383,674 1394,092 6,583,478 1525,491 2149,192 1501,338 1294,974 4375,704 1065.14q 624,866 1103,420 1005,694 2760,285 Total loans and securities 25,555,556 1400,607 6,593,633 1531,348 2162,897 1528,448 1311,780 4395,359 1071,010 656,640 1115,065 1006,369 2782,400 Due from foreign banks 22 11 ! 1 l/1 6 #2 2 1 1# 1 1 1 3 1 f 1 1 II # , 1 -1II i ## fl T 0 TOTAL ASSETS 51,748,418 2860,566 13,185,138 3124,566 4439,312 3038,527 2623,102 9118,113 2165,020 1284,926 2237,460 2043,214 5628,474 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 TEE FEDERAL RESERVE BANKS ON JANUARY 6, 1954 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 26,406,259 1624,980 5,868,869 1884,300 2452,920 1839,412 1407,742 5082,547 1207,275 645,444 1018,388 739,287 2635,095 Deposits: Member bank-reserve accts. 20,183,505 864,510 6,006,280 921,291 1557,744 830,729 913,634 3331,976 726,964 479,074 972,433 1056,568 2522,302 U.S.Treasurer-general acct. 221,6l6 11,106 35,254 10,888 23,594 24,372 14,176 12,362 23,489 19,811 13,056 23,873 9,635 Foreign 439,642 26,395 1/134,568 32,453 39,808 21,635 18,606 59,280 16,443 10,818 16,443 19,472 43,721 Other 396,651 4,195 327,823 2,645 9>200 3,162 1,144 1,387 7,462 1,122 3,631 851 34,029 Total deposits 21,24l,4l4 906,206 6,503,925 967,277 1630,346 879,898 947,560 3405,005 774,358 510,825 1005,563 1100,764 2609,687 Deferred avail, cash items 3,051,523 264,283 516,384 195,332 260,107 263,846 220,292 485,031 141,297 100,476 172,245 154,216 278,014 %)ther liabilities and accrued dividends 17,208 826 5,833 887 1,494 8l6 721 2,909 634 577 643 548 1,320 TOTAL LIABILITIES 50,716,404 2796,295 12,895,011 3047,796 4344,867 2983,972 2576,315 8975,492 2123,564 1257,322 2196,839 1994,815 5524,116 Capital paid in 265,744 14,448 81,871 18,065 25,445 11,660 11,337 35,049 9,159 5,961 10,147 13,288 29,314 ^Surplus (Section 7) 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 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 113,714 8,033 24,304 8,307 10,346 7,796 6,654 15,351 6,311 4,351 5,881 5,658 10,722 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51^.748,418 2860,566 13,185,138 3124,566 4439,312 3038,527 2623,102 9118,113 2165,020 1284,926 2237,460 2043,214 5628,474 Contingent liability on acceptances purchased for foreign correspondents 24,633 1,500 2/7,290 1,845 2,263 1,230 1,058 3,370 935 615 935 1,107 2,485 Industrial loan commitments 3,508 1,671 748 51 131 27 880 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,733,961 1701,764 6,150,237 1990,193 2572,469 1951,534 1494,928 5276,907 1274,813 663,148 1055,024 785,492 2817,452 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1050,000 625,000 435,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 108,255 5,600 4,780 3,300 — 26,300 --- —- 5,300 31,300 11,075 20,600 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 28,621,255 1845,600 6,274,780 20037300 2600,000 2001,300 1535,000 5400,000 1335,300 706,300 1091,075 808,000 3020,600 l/ After deducting $305,053,000 participations of other Federal Reserve Banks. 2/ After deducting $17,343,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis