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 11, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 10, Member bank reserves decreased $2l6 million. The principal changes reducing reserves were increases of $l8l million in Treasury deposits with Federal Reserve Banks and $11 million in Treasury cash holdings, and a decrease of $45 million in Reserve Bank credit. The decrease of $45 million in Reserve Bank credit resulted from an increase of $89 million in U. S. Government securities bought outright and decreases of $75 million in Loans, discounts and advances and $60 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $89 million in bills. Change since Member Bank Reserves Feb. 10, Feb. 3, Feb . 11 and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,806 + 89 + 918 Held under repurchase agreement 57 - - + 16 Loans, discounts and advances 442 - 75 - 891 Float 509 - 60 - l4l Total 25,815 - 45 - 97 Gold stock 21,957 + 1 - 875 Treasury currency outstanding 4,902 + 3 + 82 Money in circulation 29,923 - 7 + 147 Treasury cash holdings 818 + 11 - 494 Treasury deposits with F. R. Banks 638 +181 + 207 Foreign deposits with F. R. Banks 473 - 4 - 85 Other deposits with F. R. Banks 338 - 7 - 2 Other F. R. accounts (net) 828 - 1 + 58 Member bank reserves 19,654 -216 722 - Required reserves (estimated) 18,991 -222 903 Excess reserves (estimated) 663 + 6 + 181 Daily averages for period-- Estimated excess reserves of member banks 614 +308 - 37 Member bank borrowings at F. R. Banks 360 +149 -1,1 09 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,677 million, an increase of $45 million for the week and an increase of $512 million from the comparable, date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 10, Feb. 3, Feb. 11, 1954 1954 1953 A S S E TS Gold certificates 20,384,105 + 3 495,996 Redemption fund for F. R. notes 886,746 • 3,257 + 128,468 21,270,851 Total gold certificate reserves - 3,254 - 367,528 Other cash 449,684 - 13,187 + 47,622 Discounts and advances 440,451 - 74,794 - 889,025 Industrial loans 1,848 94 1,919 • U. S. Government securities: Bought outright— Bills 2,084,575 + 89,000 +1,, 488,321 Certificates 5,816,541 »— + 820,825 Notes 13,263,671 «. * - 510,000 Bonds 3,641,150 - - - 880,825 Total bought outright 24,805,937 + 09,000 + 918,321 Held under repurchase agreement 56,900 + 15,900 Total U. S. Government securities 24,862,837 + 89,000 + 934,221 Total loans and securities 25,305,136 + 14,112 + 43,277 Due from foreign banks 22 •> • 1 F. R. notes of other banks 168,057 - 37,993 - 24,341 Uncollected cash items 3,498,669 - 42,960 - 119,974 Bank premises 52,817 + 17 + 3,950 Other assets 205,441 + 9,814 - 9,020 TOTAL ASSETS 50,950,677 - 73,451 - 426,015 L I A B I L I T I ES Federal Reserve notes 25,771*591 - 53,042 + 102,966 Deposits: Member bank--reserve accounts 19,654,262 - 215,259 - 721,709 U. S. Treasurer--general account 637,720 + 180,517 + 206,378 Foreign 473,4o6 - 3,590 - 84,705 Other 337,946 - 7,091 2,350 Total deposits 21,103,334 - 45,423 - 602,386 Deferred availability cash items 2,989,301 + 16,465 + 20,276 Other liabilities and accrued dividends 16,515 + l,4l8 + 303 TOTAL LIABILITIES 49,880,741 - 80,582 - 478,841 C A P I T AL A C C O U N TS Capital paid in 1 " 268,666 + 247 + 12,998 Surplus (Section 7) 625,013 — + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 148,714 + 6,884 - 509 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,950,677 - 73,451 - 426,015 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.4$ + .1$ - ,3$ Contingent liability on acceptances purchased for foreign correspondents 14,498 - 1,834 - 10,155 Industrial loan commitments 3,126 - 299 - 7 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 10, 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 414,501 ' 260 4,219,950 16 to 90 days 25,950 391 1,843,725 91 days to 1 year 1,114 9,855,241 Over 1 year to 5 years 75 6,154,664 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Digitized foTr oFtRaASlE R http://fraser.stlouisfed.org/ 440,451 1,848 24,062,037 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 10, 1954 HA. 1(b) (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 1286,725 1772,381 1053,614 926,033 3762,832 804,822 827,985 758,541 2270,619 20,384,105 1014,445 5,422,763 483,345 Redemption fund for F. R. notes 181,211 81,388 886,746 54,217 59,739 71,394 58,175 150,574 49,132 25,437 41,248 30,197 84,034 Total gold certificate reserves 21,270,851 1068,662 5,603,974 1346,464 1853,769 1125,008 984,208 3913,40 6853,954 508,782 869,233 788,738 2354,653 Other cash 449,684 35,584 91,704 30,012 35,475 25,467 38,137 76,116 25,608 8,500 15,097 17,695 50,289 Discounts and advances 440,451 9,475 128,090 5,315 37,221 15,065 32,045 136,420 15,470 15,725 6,240 9,205 30,180 Industrial loans 1,848 1,437 -- 50 244 117 U. S. Govt, securities: Bought outright— Bills 2,084,575 114,785 536,628 125,604 176,957 123,616 106,624 360,282 87,701 51,449 90,852 82,805 227,272 Certificates 5,816,541 320,281 1,497,341 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 231,051 634,154 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 24,605,937 1365,914 6,385,743 1494,657 2105,751 1470,992 1268,799 4287,260 1043,611 612,235 1081,117 985,366 2704,492 Held under repurchase agreement 56,900 56,900 Total U. S. Government securities 24,862,837 1365,914 6,442,643 1494,657 2105,751 1470,992 1268,799 4287,260 1043,611 612,235 1081,117 985,366 2704,492 Total loans and securities 25,305,136 6,570,733 1501,409 2142,972 1486,107 1301,088 4423,68 01059,081 628,077 994,571 2734,672 1375,389 1087,357 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 11 2 F.R.notes of other banks 168,057 3,843 20,445 7,879 6,833 34,888 25,558 18,149 8,478 9,717 7,438 8,773 16,056 Uncollected c ash items 3,498,669 276,213 611,301 221,428 280,480 562,776 161,209 96,861 187,283 156,346 299,785 293,993 350,994 Bank premises 52,817 6,198 7,453 4,752 5,212 4,697 3,971 6,429 2,891 1,021 2,220 584 7,389 Other assets 205,441 11,083 52,065 12,167 17,745 12,311 11,186 34,853 8,440 4,995 9,556 8,635 22,405 TOTAL ASSETS 50,950,677 2776,973 12,957,681 3124,113 4361,793 2982,472 2644,629 9035,412 2119,662 1257,954 2178,185 1975,343 5536,460 Digitized for FRASER l/ After deducting $ 16,000participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 10, 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 25,771,591 1586,821 5,727,983 1845,165 2395,299 1777,833 1372,810 4987,283 1172,675 633,692 998,203 714,616 2559,211 Deposits: Member bank-reserve accts. 19,654,262 781,738 5,920,222 921,883 1498,440 817,864 905,338 3267,264 708,288 463,730 924,307 994,092 2451,096 U.S.Treasurer-general acct 637,720 48,044 79,400 47,413 63,161 56,209 55,194 102,515 36,167 30,406 37,368 45,222 36,621 Foreign 473,406 28,426 1/142,527 34,484 42,872 23,766 20,038 64,774 17,708 11,650 17,708 21,902 47,551 278,678 1,849 5,146 2,684 Other 337,946 3,431 1,582 1,203 8,293 990 1,029 1,649 31,412 Total deposits 21,103,334 861,639 6,420,827 1005,629 1609,619 900,523 982,152 3435,756 770,456 506,776 980,412 1062,86 52566,680 Deferred avail, cash items 2,989,301 261,576 502,962 193,543 257,608 246,488 240,229 460,445 133,008 88,429 156,693 147,558 300,762 Other liabilities and accrued dividends 16,515 810 4,917 781 1,626 857 717 2,530 585 584 690 577 1,841 TOTAL LIABILITIES 49,880,741 2710,846 12,656,689 3045,118 4264,152 2925,701 2595,90 88886,01 42076,72 41229,481 2135,998 1925,616 5428,494 Capital paid in 268,666 14,589 83,148 18,210 25,644 11,884 11,542 35,404 9,269 6,009 10,222 13,342 29,403 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 148,714 9,748 10,387 9,788 8,383 14,241 Other capital accounts 33,892 13,343 21,773 7,683 5,172 7,372 6,932 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,950,677 2776,973 12,957,681 3124,113 4361,793 2982,472 2644,629 9035,412 2119,662 1257,954 2178,185 1975,343 5536,460 Contingent liability on acceptances purchased for foreign correspondents 14,498 885 2/4,203 1,073 1,334 739 623 2,016 551 362 551 682 1,479 Industrial loan commitments 3,126 1,303 748 47 129 26 873 FEDERAL RESERVE AGENTS' ACCOUNTS Q.1 0AH.5U1 ,,455,5}0 F. R. notes outstanding 1681,224 5,982,393 •8k 5, e 2513,994 1880,107 1456,252 5175,168 1233,6836 53,307 1030,402 758,017 2774,460 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1050,000 625,000 443355,,000000 22440000,,00000 0355,000 175,000 280,000 283,000 1380,000 Eligible paper 208,125 8,560 123,490 4,205 —- 14,300 — --- 14,900 15,350 5,670 21,650 U. S. Govt, securities 17,305,000 1200,000 3,600,000 1200,00 0 1550,000 1350,000 1100,000 2900,00 0960,000 500,000 800,000 525,000 1620,000 Total collateral 28,606,125 1848,560 6,393,490 2004,20 52600,000 1989,30 01535,00 05300,00 01329,900 6 90,350 1085,670 808,000 3021,650 1/ After deducting $330,860,000 participations of other Federal Reserve Banks. 2/ After deducting $10,295,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis