H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release). February 25, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items . . During the week ended February 24, Member bank reserves decreased $572 million. The principal changes reducing reserves were a decrease of $585 million in Reserve Bank credit and increases of $17 million in Money in circulation and $13 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $24 million in Treasury deposits with Federal Reserve Banks and $21 million in Foreign deposits with Federal Reserve Banks. The decrease of $585 million in Reserve Bank credit resulted from decreases of $295 million in Float, $247 million in U. S. Government securities bought outright, and $4] million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $247 million in bills. Change since Member Bank Reserves Feb. 24, Feb. 17, Feb. 25, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,559 -247 +706 Held under repurchase agreement Loans, discounts and advances 250 - 43 -560 Float 503 -295 -241 Total 25,312 -585 - 94 Gold stock 21,958 + 1 -704 Treasury currency outstanding 4,906 + 1 + 85 Money in circulation 29,838 + 17 +103 Treasury cash holdings 824 + 4 -467 Treasury deposits with F. R. Banks 509 - 24 +120 Foreign deposits with F. R. Banks 461 - 21 + 7 Other deposits with F. R. Banks 359 + 13 +148 Other F. R. accounts (net) 911 - 1 + 77 Member bank reserves 19,273 -572 -702 Required reserves (estimated) 18,869 - 77 -922 Excess reserves (estimated) 4o4 -495 +220 Daily averages for period-- Estimated excess reserves of member banks 682 + 50 +102 Member1 bank borrowings at F. R. Banks 200 -101 -884 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,691 million, an increase of $1 million for the week and an increase of $490 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) Change since Feb. 24, Feb. 17, Feb, 25, 1954 1954 1953 A S S E TS Gold certificates , 20,389,100 + 4,999 335,003 Redemption fund for F. R. notes 880,654 - 2,574 + 124,582 Total gold certificate reserves 21,269,754 + 2,425 - 210,421 Other cash 447,338 «•» 6,203 + 30,684 Discounts and advances 248,547 - 42,684 - 557,296 Industrial loans 1,593 - 253 - 2,196 U. S. Government securities: Bought outright— Bills 1,837,775 . 246,800 +1, 276,821 Certificates 6,051,191 — — +1,055,475 Notes 13,029,021 — — - 744,650 Bonds 3,641,150 880,825 - Total bought outright 24,559,137 246,000 + 706,021 Held under repurchase agreement Total U. S. Government securities 24,559,137 246,800 + 706,821 - Total loans and securities 24,809,277 - 289,737 + 147,329 Due from foreign banks 22 w — - 1 F. R. notes of other banks 182,430 + 805 - 9,318 Uncollected cash items 3,796,975 - 901,605 - 119,769 Bank premises 52,875 - 57 + 3,668 Other assets 137,657 + 8,574 - 28,702 TOTAL ASSETS 50,696,328 -1,185,798 - 186,530 L I A B I L I T I ES Federal Reserve notes 25,697,813 + 15,990 + 66,778 Deposits: Member bank—reserve accounts 19,273,253 - 571,614 702,026 U. S. Treasurer--general account 508,919 - 24,539 + 120,376 Foreign 461,191 - 20,899 + 7,035 Other 359,365 + 13,759 + 148,458 Total deposits 20,602,728 - 603,293 - 426,157 Deferred availability cash items 3,294,082 - 606,298 + 120,970 Other liabilities and accrued dividends 17,581 + 1,191 + 136 TOTAL LIABILITIES 49,612,204 -1,192,410 - 238,273 C A P I T AL A C C O U N TS Capital paid in 269,573 + 258 + 13,174 Surplus (Section 7) 625,013 — - + 40,337 Surplus (Section 13b) 27,543 — mm — «• Other capital accounts 161,995 + 6,354 - 1,768 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,696,328 -1,185,798 186,530 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9% + .1% - Contingent liability on acceptances purchased for foreign correspondents 10,283 - 2,468 17,120 Industrial loan commitments 3,315 + 181 + 236 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 24, 195k (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 232,557 25% 432,700 16 to 90 days 15,990 39^ 1,405,075 91 days to 1 year 8?1 13,874,141* Over 1 year to 5 years 7k 6,057,964* Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Total 248,547 1,593 24,559,137 Digit*izLead sfotr FRwAeSeEkR' s figures for these groups revised to 13,874,141, and 6,057,964, http://frasreer.sstlpoueiscfetdi.ovreg/l y. Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 24, 1954 H.4.l(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 20,389,100 1022,867 5,628,409 1261,879 1735,459 1009,653 900,357 3735,209 815,619 486,035 781,370 657,947 2354,296 Redemption fund for F. R. notes ^ Total gold certificate reserves 21,269,75k 1076,812 5,808,515 1321,127 1816,515 1078,358 958,265 3885,432 864,637 511,418 822,511 688,052 2438,112 Other cash 447,338 32,689 90,048 28,743 38,459 25,346 39,201 76,597 26,255 7,929 16,030 17,245 48,796 Discounts and advances 248,547 14,185 12,300 6,675 22,207 15,840 20,295 49,865 11,570 13,670 16,345 21,230 44,365 Industrial loans 1,593 1,208 30 239 116 U. S. Govt, securities: Bought outright— Bills 1,837,775 101,195 473,095 110,733 156,007 108,981 94,000 317,627 77,317 45,358 80,096 73,002 200,364 Certificates 6,051,191 333,203 1,557,746 364,609 513,680 358,836 309,512 1045,839 254,580 149,349 263,729 240,371 659,737 Notes 13,029,021 717,429 3,354,035 785,050 1106,020 772,621 666,422 2251,833 548,144 321,569 567,843 517,553 1420,502 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 Held under repurchase agreement Total U. S. Government securities 24,559,137 1352,324 6,322,210 1479,786 2084,801 1456,357 1256,175 4244,605 1033,227 606.144 1070,361 975,563 2677,584 Total loans and securities 24,809,277 1366,509 6,334,510 1487,669 2107,008 1472,227 1276,709 4294,470 1044,797 619,930 1086,706 996,793 2721,949 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 11 2 F.R. notes of other banks 182,430 3,866 21,665 6,704 8,985 28,801 37,206 19,505 8,368 10,631 8,598 8,729 19,372 Uncollected cash items 3,796,975 301,689 765,514 243,616 321,727 290,626 274,899 625,952 160,402 78,281 184,554 195,647 354,068 Bank premises 52,875 6,165 7,457 4,796 5,194 4,682 3,968 6,424 2,891 1,021 2,221 584 7,472 Other assets 137,657 7,367 34,383 8,076 11,923 8,236 7,692 23,211 5,600 3,366 6,609 6,129 15,065 TOTAL ASSETS 50,696,328 2795,098 13,062,098 3100,733 4309,813 2908,277 2597,941 8931,594 2112,951 1232,577 2127,230 1913,180 5604,836 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATFKSMT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 24, 1$$4 5.4.1(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 25,697,813 1589,846 5,706,955 1840,787 2390,357 1770,265 1358,380 4982,275 1168,319 633,722 993,720 708,329 2554,858 Deposits: Member bank-reserve accts. 19,273,253 789,207 5,831,177 881,512 1464,418 758,385 889,815 3170,647 710,239 456,027 904,220 887,687 2529,919 "U.S.Treasurer-general acct 508,919 32,759 95,991 38,465 53,064 47,705 45,181 51,526 28,074 33,731 20,400 37,310 24,713 Foreign 461,191 27,255 1/143,945 33,063 41,106 22,787 19,212 62,105 16,978 11,170 16,978 21,000 45,592 Other 359,365 1,744 303,802 1,498 5,023 2,373 1,563 974 7,895 1,947 1,226 576 30,744 Total deposits 20,602,728 850,965 6,374,915 954,538 1563,611 831,250 955,771 3285,252 763,186 502,875 942,824 946,573 2630,968 Deferred avail, cash items 3)294,082 286,731 669,921 224,778 255,372 248,329 233,633 509,488 137,412 66,704 147,277 207,184 307,253 Other liabilities and accrued dividends 17,581 806 5,797 805 1,688 915 779 2,661 571 482 655 798 1,624 TOTAL LIABILITIES 49,612,204 2728,346 12,757,588 3020,908 4211,028 2850,759 2548,563 8779,676 2069,488 1203,783 2084,476 1862,884 5494,703 Capital paid in 269,573 14,611 83,200 18,265 25,765 11,898 11,574 35,512 9,299 6,031 10,239 13,412 29,767 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 ljb) 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 161,995 10,349 37,358 11,162 14,366 10,521 9,008 24,185 8,178 5,471 7,922 7,431 16,044 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 50,696,328 2795,098 13,062,098 3100,733 4309,813 2908,277 2597,941 8931,594 2112,951 1232,577 2127,230 1913,180 5604,836 Contingent liability on acceptances purchased for foreign correspondents 10,283 628 2/2,970 762 948 525 443 1,432 391 258 391 484 1,051 Industrial loan commitments 748 47 127 26 873 "IHIf FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,940,235 1666,171 5,941,229 1956,346 2511,836 1869,457 1449,375 5159,292 1223,728 650,754 1029,717 751,750 2730,580 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1050,000 625,000 443355,,000000 22440000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 123,665 13,270 6,850 5,565 — 15,075 — — 11,000 13,295 15,775 42,835 U. S. Govt, securities 17,305,000 1200,000 3,600,000 1200,000 1550,000 1350,000 1100,000 2900,000 960,000 500,000 800,000 525,000 1620,000 Total collateral 28,521,665 1853,270 6,276,850 2005,565 2600,000 1990,075 1535,000 5300,000 1326,000 688,295 1095,775 808,000 3042,835 1/ After deducting $317,228,000 participations of other Federal Reserve Banks. 2/ After deducting $7,313,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis