H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) January 14, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended January 13, Member ban kreserves increased $44 million. The principal changes supplying reserves were decreases of $307 million in Money in circulation and $136 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $ 2 89 million in Reserve Bank credit and increases of $ 60 million in Foreign deposits with Federal Reserve Banks and $44 million in Other deposit swith Federal Reserve Banks. The decrease of $ 2 89 million in Reserve Bank credit resulted from decreases of $209 million in Float, $66 million in U. S. Government securities held under repurchase agreement, and $14 million in Loans, discounts and advances. Change since Member Bank Reserves Jan. 13, Jan. 6, Jan. 14, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 2 5 , 3 18 +1,284 Held under repurchase agreement -- - 66 - 171 Loans, discounts and advances 1 58 - 14 - 9 22 Float 754 -209 - 127 Total 2 6 , 2 30 - 2 89 + 64 Gold stock 2 2 , 0 30 + 1 -1,107 Treasury currency outstanding 4,890 + 76 Money in circulation 30,284 -307 + 400 Treasury cash holdings 775 + 5 - 505 Treasury deposits with F. R. Banks 86 - 1 36 - 369 Foreign deposits with F. R. Banks 5 00 + 60 - 199 Other deposits with F. R. Banks 441 + 44 + 77 Other F. R. account s(net) 8 36 -- + 60 Member bank reserves 20,228 + 44 - 432 Required reserves (estimated) 19,265 -145 - 1 , 0 09 Excess reserves (estimated) 963 + 1 89 + 577 Daily averages for periods- Estimated excess reserves of member banks 762 - 46 40 Member bank borrowings at F. R. Banks 131 + 35 -1,340 U. S. Government securities held In custody by the Federal Reserve Banks for foreign account were $2,554 million, a decrease of $29 million for the week and an increase of $447 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 13, Jan. 6, Jan. 14, 1954 1954 1953 A S S E TS . Gold certificates 20,453,101 2 697,001 Redemption fund for F, R. notes 896,932 — — + 115,044 Total gold certificate reserves 21,350,033 - 2 - 581,957 Other cash 429,236 + 46,080 + 1 8 , 1 03 Discounts and advances 156,070 - 1 3 , 8 81 - 920,184 Industrial loans 1,803 - 1 28 1 , 8 51 U. S. Government securities: Bought outright-- Bills 2,596,312 +1, 854,362 Certificates 5,816,541 — — + 8 2 0 , 8 25 Notes 13,263,671 - 510,000 Bonds 3,641,150 880.825 •» «- - Total bought outright 25,317,674 — «• +1,284,362 Held under repurchase agreement 66.000 171.600 — - - Total U. S. Government securities 2 5 , 3 1 7 , 6 74 - 66,000 +1.112.762 Total loans and securities 25,475,547 - 80,009 + 190,727 Due from foreign banks 22 1 » — - F. R. notes of other banks 239,392 + 7,358 - 13,132 Uncollected cash items 3,907,910 - 1 0 6 , 8 62 - 352,945 Bank premises 52,448 - 7 + 4,004 Other assets 168,884 + 8,496 - 9,949 TOTAL ASSETS 51,623,472 124,946 745,150 - - L I A B I L I T I ES Federal Reserve notes 26,157,422 - 248,837 + 348,873 Deposits: Member bank--reserve accounts 2 0 , 2 2 7 , 8 53 + 44,348 - 431,691 U. S. Treasurer--general account 86,391 - 135,225 - 3 6 8 , 6 17 Foreign 499,730 + 6 0 , 0 88 - 199,477 Other 44i,36l + 44,710 + 77,493 Total deposits 21,255,335 + 13,921 922,292 - Deferred availability cash items 3,153,498 + 101,975 - 225,941 Other liabilities and accrued dividends 17.1815, 667 + L773, TOTAL LIABILITIES 50,584,130 132,274 797,587 - C A P I T AL A C C O U N TS Capital paid in 266,339 + 595 + 1 2 , 8 05 Surplus (Section 7) 6 2 5 , 0 13 — — + 40,337 Surplus (Section 13b) 27,543 - - - — Other capital accounts 120.447 + 6,7,33 - 705 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5 1 , 6 2 3 , 4 72 124,946 745,150 - Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 4 5 .0 % + .2% .7% - Contingent liability on acceptances purchased for foreign correspondents 2 3 , 8 74 - 759 + 3,692 Industrial loan commitments 3 , 6 07 99 + 213 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 13, 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 advances loans securities Within 15 days 133,347 346 746,704 l6 to 90 days 22,723 5 66 5,771,808 91 days to 1 year 8 29 9,855,241 Over 1 year to 5 years 62 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years 1*414,857, Total 156,070 1 , 8 03 25,317,674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JANUARY 13, 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. Gold certificates 20,453,101 976,185 5,464,099 1218,919 1744,309 1013,441 923,743 3941,989 8 0 8 , 6 17 461,852 799,231 732,082 2 3 6 8 , 6 34 Redemption fund for F. R. notes 8 9 6 , 9 32 54,742 1 8 3, 0 47 6 0 , 7 01 8 2 , 0 16 75,433 58,654 1 5 1 , 2 60 49,338 25,534 41,403 30,348 84,456 Total gold certificate reserves 21,350,033 1 0 3 0 , 9 27 5,647,146 1 2 7 9 , 6 20 1 8 2 6 , 3 25 1 0 8 8 , 8 74 982,397 4093,249 8 5 7 , 9 55 487,386 840,634 7 6 2 , 4 30 2453,090 Other cash 429,236 32,384 92,914 2 9 , 6 26 30,909 24,382 35,454 7 2 , 5 88 24,427 8 , 1 25 15,015 17,494 4 5 , 9 18 Discounts and advances 156,070 6,050 22,270 5,725 18,425 20,725 13,125 25,525 6,100 8,425 12,475 1,175 16,050 Industrial loans 1,803 — — 1,332 — 50 322 -- — 99 U. S. Govt, securities: Bought outright— Bills 2,596,312 142,963 6 6 8 , 3 63 156,438 220,398 153,962 132,799 448,726 109,230 64,080 113,155 103,133 2 8 3 , 0 65 Certificates 5,8i6,54l 320,281 1,497,341 350,470 493,760 344,921 297,510 1 0 0 5 , 2 85 244,709 143,558 253,501 2 3 1 , 0 51 6 3 4 , 1 54 Notes 1 3 , 2 6 3 , 6 71 730,351 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 6 2 9 , 3 06 153,186 8 9 , 8 68 1 5 8 , 6 93 144,637 396,981 Total 25,317,674 1394,092 6 , 5 1 7 , 4 78 1 5 2 5 , 4 91 2149,192 1501,338 1294,974 4375,704 1065,140 624,866 1103,420 1005,694 2760,285 Held under repurchase agreement — — — — — — — — — — — — Total U. S. Government securities 25,317,674 1394,092 6,517,478 1525,491 2149,192 1501,338 1294,974 4375,704 1065,140 624,866 1103,420 1005,694 2 7 6 0 , 2 85 Total loans and securities 25,475,547 1400,142 6,539,748 1532,548 2 1 6 7 , 6 17 1522,113 1308,421 4401,229 1071,240 633,390 1115,895 1 0 0 6 , 8 69 2776,335 Due from foreign banks 22 l l/ 6 2 2 1 1 31 1 1 1 2 F.R.notes of other bank s239,392 9,569 31,922 14,471 14,236 3 8 , 8 36 3 2 , 2 68 29,486 12,756 —10,66l 8 , 2 88 14,068 2 2 , 8 31 Uncollected cash items 3,907,910 3 0 8 , 6 35 730,945 224,575 349,493 330,359 2 9 6 , 8 73 6 3 8 , 1 31 173,005 104,631 199,390 189,990 3 6 1 , 8 83 Bank premises 52,448 6,232 7,393 4,734 5,279 4,719 3 , 6 36 6,448 2 , 8 98 1,024 2,235 587 7 , 2 63 Other assets 168,884 9,136 42,696 9,903 14,102 10,175 9,610 2 8 , 5 08 6 , 9 88 4,097 8,022 7 , 2 67 1 8 , 3 80 TOTAL ASSETS 51,623,472 2 7 9 7 , 0 26 13,092,770 3095,479 4407,963 3019,459 2 6 6 8 , 6 60 9269,642 2149,270 1249,315 2 1 8 9 ,4 8o 1998,706 5 6 8 5 , 7 02 Digitized for FRASER l/ After deducting $l6,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 13, 1954 (in thousands of dollars) H.4.1(c) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. L I A B I L I T I ES Federal Reserve notes 2 6 , 1 5 7 , 4 22 1 6 1 1 , 3 23 5 , 8 1 2 , 5 96 1 8 7 2 , 5 48 2 4 3 3 , 4 90 1 8 1 8 , 1 03 1 3 8 9 , 0 67 5 0 4 3 , 7 58 1 1 9 4 , 0 49 6 3 9 , 5 24 1 0 0 9 , 0 20 7 2 8 , 4 87 2 6 0 5 , 4 57 Deposits: Member bank-reserve accts.2 0 , 2 2 7 , 8 53 827,575 5 , 9 0 0 , 2 83 929,294 1536,213 8 5 4 , 6 65 955,919 3456,924 744,303 472,202 9 5 2 , 3 98 1027,629 2570,448 1 , 0 69 1 , 6 10 l,l4l 1,487 1,198 1,129 1,459 U.S.Treasurer-general acct 86,391 1,254 7 1 , 8 21 1 , 8 70 1 , 5 61 792 Foreign 499,730 29,866 1/152,095 36,230 45,043 24,970 2 1, 0 53 6 8 , 0 54 1 8 , 6 05 1 2, 2 40 1 8 , 6 05 2 3 , 0 11 4 9 , 9 58 Other 441,361 4,819 327.437 1,986 6,235 3,450 649 51,225 7,276 8 63 3,584 6 40 33,197 Total deposits 21,255,335 863,514 6,451,636 969,380 1589,052 883,877 9 7 8 , 6 90 3577,813 771,325 486,792 9 7 5 , 7 85 1052,409 2 6 5 5 , 0 62 Deferred avail, cash items 3,153,498 2 5 6 , 6 69 530,708 175,450 288,619 261,471 2 5 2 , 8 92 5 0 1 , 4 05 141,454 9 4 , 6 92 1 6 3 , 0 59 168,551 3 1 8 , 5 28 Other liabilities and accrued dividends 17,875 1,047 5,712 868 1,661 924 802 2 , 6 76 677 524 673 5 86 1,725 3018,246 4312,822 2964,375 2621,451 9125,652 2107,5051 221,532 2148,537 1950,033 5580,772 TOTAL LIABILITIES 50,584,130 2732,553 1 2 , 8 0 0 , 6 52 Capital paid in 266,339 14,459 81,956 18,113 25,533 11,780 11,429 35,114 9,203 5,971 1 0 , 1 65 13,297 29,31S Surplus (Section 7) 6 2 5 , 0 13 38,779 176,633 4 5 , 9 09 57,648 31,750 28,034 90,792 25,465 1 6 , 2 19 2 3 , 4 56 2 8 , 1 46 6 2 , 1 82 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1 , 0 06 3,349 7 62 1,429 521 1,073 1,137 1,307 2,l4c Other capital accounts 120,447 8,224 26,210 8 , 7 22 10,954 8 , 2 05 6,984 1 6 , 6 55 6 , 5 76 4, 5 20 6 , 1 85 5,923 1 1 , 2 8s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5 1 , 6 2 3 , 4 72 2 7 9 7 , 0 26 1 3 , 0 9 2 , 7 70 3 0 9 5 , 4 79 4 4 0 7 , 9 63 3019,459 2 6 6 8 , 6 60 9 2 6 9, 6 42 2 1 4 9 , 2 70 1249,315 2 1 8 9, 4 80 1 9 9 8 , 7 06 5685,70^ Contingent liability on acceptances purchased for foreign correspondents 23,874 1 , 4 58 2 / 6 , 9 05 1.769 2,199 1,219 1,028 3,322 9 08 597 9 08 1 , 1 23 2 , 4 3* Industrial loan commitments 3,607 1.770 748 51 131 27 8 80 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2 7 , 6 3 6 , 1 94 1 7 0 3 , 7 47 6,147,009 1 9 8 2 , 0 28 2 5 6 0 , 7 16 1931,395 1 4 8 6, 7 54 5264,145 1264,838 661,437 1049,237 780,130 2 8 0 4, 7 5* Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2 , 6 7 0 , 0 00 8 0 0 , 0 00 1 0 5 0 , 0 00 6 2 5 , 0 00 4 3 5 , 0 00 2 4 0 0 , 0 00 355,000 1 7 5 , 0 00 2 8 0 , 0 00 2 8 3 , 0 00 1 3 8 0 , 0 0( Eligible paper 7777 , q 5 k 4 q 5 k 5245,525 11.71210, 7 20 3 3, ,8 87575 — 1199,>4^550 0 5A50 5,150 7>O07U, 8 00 ±11,15,05 25 13,50< ,00( U. S. Govt, securities ,50< Total collateral l/ After deducting $ 3 4 7 , 6 1 6 ,0 00 participations of other Federal Reserve Banks. 2/ After deducting $16,569,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis