H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H .4.1 (For Immediate Release) February 4, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 3, Member bank reserves increased $11 million. The principal changes supplying reserves were an increase of $365 million in Reserve Bank credit and a decrease of $16 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $221 million in Treasury deposits with Federal Reserve Banks, $67 million in Other deposits with Federal Reserve Banks, $30 million in Money in circulation, and $12 million in Treasury cash holdings, and a decrease of $50 million in Gold stock. The increase of $365 million in Reserve Bank credit resulted from increases of $405 million in Loans, discounts and advances, $57 million in U. S. Government securities held under repurchase agreement, and $56 million in U. S. Government securities bought outright, and a decrease of $153 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $56 million in bills. Change since Member Bank Reserves Feb. 3, Jan. 27, Feb . 4, and Related Items 1954 1954 1953 ) (In millions of dollars Reserve Bank credit: U. S. Government securities-- Bought outright 24,717 + 56 + 829 Held under repurchase agreement 57 + 57 - 44 Loans, discounts and advances 517 +405 - 871 Float 569 202 -153 •* Total 25,860 +365 288 - Gold stock 21,956 - 50 - 979 Treasury currency outstanding 4,899 + 9 + 79 Money in circulation 29,930 + 30 + 273 Treasury cash holdings 807 + 12 - 524 Treasury deposits with F. R. Banks 457 +221 - 215 Foreign deposits with F. R. Banks 477 - 16 • 85 Other deposits with F. R. Banks 345 + 67 + 19 Other F. R. accounts (net) 829 - 2 + 59 Member bank reserves 19,870 + 11 - 714 Required reserves (estimated) 19,213 - 16 „ 743 Excess reserves (estimated) 657 + 27 + 29 Daily averages for period-- Estimated excess reserves of member banks 306 -817 254 Member bank borrowings at F. R. Banks 211 +135 -1,3 47 U. S. Government securities held in custody by the Federal Reserve Banks $2,632 $58 for foreign account were million, an increase of million for the week and an increase of $44-9 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) Feb. 3, Jan. 27, Feb. 4, 1954 1954 1953 A S S E TS Gold certificates 20,384,102 45,000 595,998 Redemption fund for F. R. notes 890,003 - 115 + 131,673 Total gold certificate reserves 21,275,105 - "557115 - "554,325 Other cash 462,871 - 4,625 + 54,802 Discounts and advances 515,245 + 404,779 869,420 Industrial loans 1,942 + 47 1,832 U. S. Government securities: Bought outright-- Bills 1,995,575 + 56,575 +1 ,399,321 Certificates 5,8l6,54l - - + 820,825 Notes 13,263,671 — — - 510,000 Bonds 3,641,150 -- - 880,825 Total bought outright 25:715,937 + 56,575 + 829,321 Held under repurchase agreement 56,900 + 56,900 - 44,200 Total. U. S. Government securities 25,7731537 + 1137575 + 7557121 Total loans and securities 25,291,024 + 518,301 - 86,131 Due from foreign banks 22 - — — JL F. R. notes of other banks 206,050 - 13,394 7,322 Uncollected cash items 3,541,629 - 350,580 - 125,503 Bank premises 52,800 90 + 4,091 Other assets 195,627 4- 8,328 - 10,420 TOTAL ASSETS 51,024,128 + LLd j Odr) 634,809 L I A B I L I T I ES Federal Reserve notes 25,824,633 + 19,541 + 231,557 Deposits: Member bank--reserve accounts 19,869,521 + 10,529 - 714,673 U. S. Treasurer--general account 457,203 + 221,474 - 215,227 Foreign 476,996 - 15,604 - 84,952 Other 345,037 + 67,134 + 19,307 Total deposits 21,148,757 + 283,533 - 995,545 Deferred availability cash items 2,972,836 197,087 + 76,223 - Other liabilities and accrued dividends 15,097 - 1,625 - 654 TOTAL LIABILITIES 49,961,323 + 164,362 688,419 - C A P I T AL A C C O U N TS Capital paid in 268,419 + 1,236 13,450 Surplus (Section 7) 625,013 + 40,337 — — Surplus (Section 13b) 27,543 — — -- Other capital accounts 141,830 + 7,227 - 177 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,024,128 + 112,825 634,809 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.3% M .2$ - - Contingent liability on acceptances purchased for foreign correspondents 16,332 1,935 - 5,931 Industrial loan commitments 3,425 88 + 134 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 3, 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 491,130 307 4,185,950 16 to 90 days 24,115 643 1,788,725 91 days to 1 year 914 9,855,241 Over 1 year to 5 years 78 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Digitized for F T R o A t S a E l R 515,245 "1,942 25,773,837 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 3, 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 20,384,102 1019,628 5,516,791 1279,813 1764,325 1047,l6l 918,125 3677,369 838,544 481,252 809,267 775,314 2256,513 Redemption fund for F. R. notes 890,003 54,381 181,826 60,010 81,587 72,645 58.362 150,795 49.196 25,479 41,295 30,244 84,183 Total gold certificate reserves 21,274,105 1074,009 5,698,617 1339,823 1845,912 1119,806 976,487 3828,164 887,740 506,731 850,562 805,558 2340,696 Other cash 462,871 36,351 94,907 31,230 33,630 26,943 40,560 78,682 26,912 9,124 16,128 19,082 49,322 Discounts and advances 515,245 5,625 73,645 5,060 46,805 23,615 37,220 199,235 10,270 8,025 11,560 13,705 80,480 Industrial loans 1,942 1,489 50 284 119 U. S. Govt, securities: Bought outright— Bills 1,995,575 109,884 513,717 120,241 169,402 118,338 102,072 344,900 83,956 49,253 86,973 79,270 217,569 Certificates 5,8l6,54l 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 24,716,937 1361,013 ,362,832 1459,294 2098,196 1465,714 1264,24? 4271^878 1039^866 610,039 1077,238 981,031 2694,789 Held under repurchase agreement 56,900 56,900 Total U. S. Government securities 24,773,837 1361,013 6,419,732 1489,294 2098,196 1465,714 1264,24? 4271,878 1039,866 610,039 1077,238 981,831 2694,789 Total loans and securities 25,291,024 1366,638 6,493,377 1495,843 2145,001 1489,379 1301,751 4471,113 1050,136 618,183 1088,798 995,536 2775,269 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 11 1 2 F.R.notes of other banks 206,050 4,127 24,627 9,174 10,369 46,287 27,189 24,967 9,706 11,304 5,404 16,036 16,860 Uncollected cash items 3,541,629 296,353 659,300 229,564 302,672 294,233 262,503 562,644 155,246 88,728 190,429 139,078 360,879 Bank premises 52,800 6,198 7,438 4,752 5,212 4,696 3,971 6,429 2,891 1,021 2,219 584 7,389 Other assets 195,627 10,515 49,047 11,647 17,002 11,667 10,676 33,282 8,153 4,769 9,111 8.377 21,381 TOTAL ASSETS 51,024,128 2794,192 13,027,319 3122,035 4359,800 2993,012 2623,138 9005,284 2140,785 1239,861 2162,652 1984,252 5571,798 l/ After deducting $.16,000participations 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 FEBRUARY 3, 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 25,824,633 1590,047 5,725,258 1845,764 2397,960 1788,456 1382,098 4994,328 1177,227 633,920 1002,968 720,428 2566,179 Deposits: Member bank-reserve accts. 19,869,521 817,477 5,983,770 932,492 1521,268 823,189 909,580 3263,607 747,893 460,580 911,660 1027,104 2470,901 U.S.Treasurer-general acct. 457*203 34,553 61,222 36,394 29,831 45,619 32,496 73,189 22,191 22,787 28,697 22,866 47,358 Foreign 476,996 28,396 1/146,470 34,447 42,826 23,741 20,017 64,704 17,689 11,638 17,689 21,879 47,500 Other 4,231 4,733 1,154 1,072 7,710 1,533 1,795 661 31,943 Total deposits 21,148,757 884,657 6,475,661 :10 04,724 1598,658 897,164 963,247 3402,572 795,483 496,538 959,841 1072,510 2597,702 Deferred avail, cash items 2,972,836 252,970 523,224 192,124 264,463 250,311 228,756 457,612 124,835 80,546 157,438 141,329 299,228 Other liabilities and accrued dividends 15,097 741 4,069 852 1,707 715 652 2,675 562 558 556611 533 1,472 TOTAL LIABILITIES 49,961,323 2728,415 12,728,212 3043,464 4262,788 2936,646 2574,753 8857,187 2098,107 1211,562 2120,808 1934,800 5464,581 Capital paid in 268,419 14,579 83,095 18,186 25,602 11,853 11,533 35,368 9,268 6,005 10,217 13,319 29,394 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,l4o Other capital accounts 141,830 9,408 32,060 9,987 12,756 9,414 8,056 20,508 7,424 5,002 7,034 6,680 13,501 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,024,128 2794,192 13,027,319 3122,035 4359,800 2993,012 2623,138 9005,284 2140,785 1239,861 2162,652 1984,252 5571,798 Contingent liability on acceptances purchased for foreign correspondents 16,332 994 2/4,759 1,206 1,500 831 701 2,266 619 4o8 619 766 1,663 Industrial loan commitments 3,425 1,602 748 47 129 27 872 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,202,817 1682,500 6,025,265 1963,813 2532,305 1887,602 1464,101 5193,398 1240,024 654,818 1034,698 764,399 2759,894 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1050,000 625,000 43453,50,00000 2244o0o0,,o0o0o0 355,000 175,000 280,000 283,000 1380,000 Eligible paper 205,895 4,710 68,595 3,950 — 22,850 9,700 7,650 10,990 77,450 3,600,000 1200,000 1550,000 1350,000 1100,000 2900,000 960,000 500,000 800,000 525,000 1620,000 U. S. Govt, securities 17,305,000 1200,000 28,603,895 1844,710 6,338,595 2003,950 2600,000 1997,850 1535,000 5300,000 1324,700 682,650 1090,990 808,000 3077,450 Total collateral 1/ After deducting4630,505,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ After deducting $11,573,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis