H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) March 4, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 3> Member bank reserves increased $267 million. The principal change supplying reserves was an increase of $377 million in Reserve Bank credit. The principal offsetting changes were increases of $47 million in Money in circulation, $43 million in Other deposits with Federal Reserve Banks, $19 million in Treasury deposits with Federal Reserve Banks, and $15 million in Foreign deposits with Federal Reserve Banks. The increase of $377 million in Reserve Bank credit resulted from increases of $358 million in Float and $18 million in Loans, discounts and advances. Change since Member Bank Reserves March 3, Feb. 24, March 4, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright +706 24,559 Held under repurchase agreement Loans, discounts and advances 268 + 18 -560 Float 861 -200 +358 Total 25,689 +377 - 53 Gold stock 21,958 -704 Treasury currency outstanding 4,912 + 88 Money in circulation 29,885 47 +113 Treasury cash holdings 820 4 -475 Treasury deposits with F. R. Banks 528 19 + 40 Foreign deposits with F. R. Banks 476 15 - 36 Other deposits with F. R. Banks +161 402 + 43 Other F. R. accounts (net) 908 + 78 - 3 Member bank reserves 19,540 +267 -550 Required reserves (estimated) 18,914 + 45 -926 Excess reserves (estimated) 626 +222 +376 Daily averages for period-- Estimated excess reserves of member banks 468 -214 - 99 Member bank borrowings at F. R. Banks 266 v 66 -903 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,742 million, an increase of $51 million for the week and an increase of $568 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) March 3, Feb. 24, March 4, 1954 1954 1953 A S S E TS Gold certificates 20,389,104 + 4 334,996 Redemption fund for F. R. notes 878,045 - 2,609 + 125,687 Total gold certificate reserves 21,267,149 - 2,605 - 209,309 Other cash 442,683 4,655 + 42,707 Discounts and advances 266,732 + 18,185 - 556,950 Industrial loans 1,728 + 135 2,380 • U. S. Government securities: Bought outright-- Bills 1,837,775 +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 - - + 706,821 Held under repurchase agreement Total U. S. Government securities 24,559,137 - - + 706,821 Total loans and securities 24,827,597 + 18,320 + 147,491 Due from foreign banks 22 — — - 1 F. R. notes of other banks 175,186 - 7,244 - 2,950 Uncollected cash items 3,931,573 + 134,598 - 66,801 Bank premises 52,819 - 56 + 3,640 Other assets 146,368 + 8,711 - 30,166 TOTAL ASSETS 50,843,397 + 147,069 - 115,389 L I A B I L I T I ES Federal Reserve notes 25,720,678 + 22,865 + 84,701 Deposits: Member bank--reserve accounts 19,540,314 + 267,061 549,237 U. S. Treasurer--general account 528,262 + 19,343 + 39,990 Foreign 475,782 + 14,591 - 35,950 Other 401,518 + 42,153 + 160,861 Total deposits 20,945,876 + 343,148 - 384,336 Deferred availability cash items 3,070,088 - 223,994 + 133,112 Other liabilities and accrued dividends 15,986 - 1,595 - 43 TOTAL LIABILITIES 49,752,628 + 140,424 166,566 - C A P I T AL A C C O U N TS Capital paid in 269,737 + 164 + 13,087 Surplus (Section 7) 625,013 - *- + 40,337 Surplus (Section 13b) 27,543 - - -- Other capital accounts 168,476 + 6,481 - 2,247 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,843,397 + 147,069 115,389 • Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45 M - • 3* - .1# Contingent liability on acceptances purchased for foreign correspondents 9,391 - 892 - 18,147 Industrial loan commitments 3,146 169 743 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 3, 195% (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 251,517 231 405,200 l6 to 90 days 15,215 4l 6 2,570,3^1 91 days to 1 year 1,008 12,736,375 Over 1 year to 5 years 73 6,057,964 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Total 266,732 1,728 24,559,137 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 3, 1954 (In thoyscm&s of dollaiw) H.4.1(b) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. A S S E TS 20,389,104 998,780 5,543,430 1246,031 1842,962 1035,009 913,051 3711,226 824,006 487,415 817,271 734,027 2235,896 Gold certificates Redemption fund for F. R, notes 7 , ^! ! Total gold certificate 21,267,149 1052,567 5723,100 1304,997 1923,833 1102,727 970,834 3861,260 872,968 512,776 858,367 764,102 2319,618 reserves Other cash 442,683 32,901 90,853 30,203 34,851 23,944 38,384 78,129 25,489 8,995 14,876 16,822 47,236 Discounts and advances 266,732 8,085 10,455 6,030 17,507 29,565 27,795 54,665 7,970 5,570 8,145 13,930 77,015 Industrial loans 1,728 1,364 30 219 115 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 6o6,l44 1070,361 975,563 2677,584 Total loans and securities 24,827,597 1360,409 6,332,665 1487,180 2102,308 1485,952 1284,189 4299,270 1041,197 611,829 1078,506 989,493 2754,599 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R. notes of other banks 175,186 3,325 20,977 7,645 7,661 28,4l6 42,212 17,735 8,620 9,533 5,140 7,855 16,067 Uncollected cash items 3,931,573 288,020 780,956 258,135 391,788 287,818 260,833 691,967 159,674 98,775 197,040 150,747 365,820 Bank premises 52,819 6,165 7,460 4,796 5,187 4,681 3,958 6,4lO 2,886 1,019 2,204 581 7,472 Other assets 146,368 7,862 36,522 8,658 12,847 8,723 8,185 24,786 6,044 3,595 6,981 6,350 15,815 TOTAL ASSETS 50,843,397 2751,250 12,992,539 3101,616 4478,477 2942,262 2608,596 8979,560 2116,879 1246,523 2163,115 1935,951 5526,629 l/ After deducting $16,000 participations 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 MARCH 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 25,720,678 1581,209 5,709,017 1835,828 2388,903 1771,262 1371,911 4972,649 1168,866 634,702 1001,763 718,054 2566,514 Deposits: Member bank-reserve accts. 19,540,314 788,025 5,896,983 912,567 1516,182 817,052 913,741 3228,879 722,185 467,281 906,061 955,961 2415,397 U.S.Treasurer-general acct 528,262 29,578 6l,042 35,734 51,948 41,332 35,790 82,184 34,868 22,493 34,647 29,569 69,077 Foreign 475,782 28,206 1/147,460 34,218 42,541 23,582 19,883 64,274 17,571 11,560 17,571 21,733 47,183 Other 401,518 3,064 337,949 2,428 6,217 3,436 1,783 690 8,085 1,615 3,483 950 31,818 Total deposits 20,945,876 848,873 6,443,434 984,947 1616,888 885,402 971,197 3376,027 782,709 502,949 961,762 1008,213 2563,475 Deferred avail, cash items 3,070,088 253,251 528,895 199,705 371,490 226,982 215,085 475,051 121,117 79,450 156,067 158,525 284,470 Other liabilities and accrued dividends 15,986 811 4,711 895 1,889 698 689 2,779 516 510 552 580 1,356 TOTAL LIABILITIES 49,752,628 2684,144 12,686,057 3021,375 4379,170 2884,344 2558,882 8826,506 2073,208 1217,611 2120,144 1885,372 5415,815 Capital paid in 269,737 14,614 83,212 18,295 25,768 11,904 11,576 35,531 9,302 6,031 10,239 13,458 29,807 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 168,476 10,702 39,318 11,548 14,885 10,915 9,342 25,302 8,383 5,589 8,139 7,668 16,685 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,843,397 2751,250 12,992,539 3101,616 4478,477 2942,262 2608,596 8979,560 2116,879 1246,523 2163,115 1935,951 5526,629 Contingent liability on acceptances purchased for foreign correspondents 573 2/2,717 , 696 865 479 4o4 1,307 357 235 357 442 959 Industrial loan commitments 4 :$ '1,334 748 47 127 25 865 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,900,312 1664,708 5,927,009 1955,200 2504,325 1860,421 1445,962 5147,319 1229,696 651,778 1029,976 752,692 2731,226 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 137,800 7,170 5,255 4,920 — 28,800 — — 7,400 5,195 7,575 — 71,485 U. S. Govt, securities 17,255,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1100,000 2900,000 960,000 500,000 800,000 525,000 1620.000 Total collateral 28,485,800 1847,170 6,275,255 2004,920 2600,000 1953,800 1535,000 5300,000 1322,400 680,195 1087,575 808,000 3071,485 1/ After deducting $328,304,000 participations of other Federal Reserve Banks, 2/ After deducting $6,674,000 participations of other Federal Reserve Banks, Digitized for FRASER * Last week1s figures revised to 3,315 and 1,49^-, respectively. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis