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 11, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 10, Member bank reserves increased $100 million. The principal changes supplying reserves were decreases of $81 million in Treasury deposits with Federal Reserve Banks, $56 million in Other deposits with Federal Reserve Banks, and $15 million in Money in circulation. The principal offsetting changes were a decrease of $51 million in Reserve Bank credit and an increase of $11 million in Foreign deposits with Federal Reserve Banks. The decrease of $51 million in Reserve Bank credit resulted from a decrease of $318 million in Float and increases of $145 million in Loans, discounts and advances and $123 million in U. S. Government securities bought outright. The increase in U. S. Government securities bought outright was entirely in bills. Change since Member Bank Reserves March 10, March 3, March 11, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,682 +123 4* 829 Held under repurchase agreement Loans, discounts and advances 413 +145 - 906 Float 543 -318 227 - Total 25,638 - 51 303 - Gold stock 21,963 + 5 648 - Treasury currency outstanding 4,917 + 5 + 93 Money in circulation 29,870 - 15 + 90 Treasury cash holdings 820 479 - Treasury deposits with F. R. Banks 447 - 81 + 116 Foreign deposits with F. R. Banks 487 + 11 94 - Other deposits with F. R. Banks 346 - 56 + 2 Other F. R. accounts (net) 907 - 1 + 78 Member bank reserves 19,640 +100 572 Required reserves (estimated) 18,860 - 54 - 961 Excess reserves (estimated) 780 +154 + 389 Daily averages for period-- Estimated excess reserves of member banks 606 +138 h 49 Member bank borrowings at F. R. Banks 236 - 30 -1,171 U. S. Government securities held in custody by the Federal Reserve Panics for foreign account, were $2,741 million, a decrease of $1 million for the week and an increase of $598 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 March 10, March 3, March 11, 1953 A S S E TS Gold certificates 20,399,101 + 9,997 275,000 Redemption fund for F. R. notes 875,466 - 2,579 + 123,108 Total gold certificate reserves 21,274,567 + 7,41b 151,892 - Other cash ~ 426,376 16,307 + 47,023 - Discounts and advances 411,342 + 144,610 - 903,577 Industrial loans 1,660 68 2,290 - - U. S. Government securities: Bought outright-- Bills 1,960,975 + 123,200 +1, 400,021 Certificates 6,051,191 +1,055,475 -- Notes 13,029,021 744,650 — — - Bonds 3,641,150 880,825 - - - Total bought outright 24,682,337 + 123,200 + 830,021 Held under repurchase agreement Total U, S. Government securities 24,682,337 + 123,200 4- 830,021 Total loans and securities 25,095,339 + 267,742 - 75,846 Due from foreign banks 22 -- - 1 F. R. notes of other banks 171,732 3,454 + 2,076 - Uncollected cash items 3,516,467 415,106 182,127 - - Bank premises 52,842 + 23 + 3,654 Other assets 154,043 + 7,675 - 31,003 TOTAL ASSETS 50,691,388 152,009 388,116 - - L I A B I L I T I ES Federal Reserve notes 25,682,616 38,062 + 63,566 - Deposits: Member bank--reserve accounts 19,640,328 + 100,014 571,404 U. S. Treasurer--general account 447,483 - 80,779 + 116,693 Foreign 486,847 + 11,065 - 94,357 Other 346,184 - 55,334 + 1,746 Total deposits 20,920,842 - 25,034 - 547,322 Deferred availability cash items 2,973,942 - 96,146 + 45,110 Other liabilities and accrued dividends 16,840 + 854 + 631 TOTAL LIABILITIES 49,594,240 158,386 438,015 - - C A P I T AL A C C O U N TS Capital paid in ™" 269,749 + 12 + 12,987 Surplus (Section 7) 625,013 — — + 40,337 Surplus (Section 13b) 27,543 — — — — Other capital accounts 174,843 + 6,367 - 3,425 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,691,300 152,009 388,116 - - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7$ + .1$ .2$ Contingent liability on acceptances purchased for foreign correspondents 9,372 - 19 18,127 Industrial loan commitments 3,168 + 22 + 662 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 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 390,865 211 416,300 16 to 90 days 20,477 369 2,682,441 91 days to 1 year 1,033 12,736,375 Over 1 year to 5 years 47 6,057,964 Over 5 years to 10 years 1,374,400 Over 10 years 1.W.857 Digitized for FRASER Total 411,342 1,660 24,682,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON MARCH 10, 1954 (in thousands of dollars) H.4.i(t>) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. A S S E TS Gold certificates 20,399,101 1015,098 5,698,162 1244,924 1755,029 1058,510 906,890 3743,923 830,899 492,262 773,521 693,857 2186,026 Ademption fund for F. R. notes 875,466 53,660 179,231 58,778 80*738 66,534 57,678 149,875 48,918 25,327 41,070 30,031 83,626 Total gold certificate reserves 21,274,567 1068,758 5,877,393 1303,702 1835,767 1125,044 964,568 3893,798 879,817 517,589 814,591 723,888 2269,652 Other cash 426,376 32,620 85,396 27,921 35,783 22,961 33,778 76,580 24,756 8,336 14,287 18,217 45,741 Discounts and advances 411,342 14,945 147,765 40,175 14,602 26,175 27,925 76,705 7,650 6,745 15,970 11,850 20,835 Industrial loans 1,660 — — 1,335 — 10 201 — — 114 TJ. S. Govt, securities: Bought outright-- Bills l 960,975 107,979 504,810 118,156 166,465 116,287 100,302 338,920 82,501 48,399 85,465 77,895 213,796 Certificates 6!051,191 33a3,2 03 g1,5:57g,746 a 36a4,60 9« 51 3M,680 358,836 309,512 1045,839 254,580 149,349 263,729 24g0,3:71g 6 59,737 Notes Bonds Total 24,682,337 1359ll08 6,353^925 1487^209 2095,259 1463,663 1262,477 4265,898 1038,411 609,185 1075,730 980,456 2691,016 Held under repurchase agreement Total U. S. Government securities 24,682,337 1359,108 6,353,925 1487,209 2095,259 1463,663 1262,477 4265,898 1038,411 609,185 1075,730 980,456 2691,016 Total loans and securities 25,095,339 1374,053 6,501,690 1528,719 2109,861 1489,848 1290,603 4342,603 1046,061 616,044 1091,700 992,306 2711,851 Due from foreign banks 22 l l/ 6 2 2 1 1 3 1 1 1 1 n § F.R. notes of other "banks 171,732 3,023 207066 7,635 6,472 28,540 35,600 18,079 8,074 9,828 8,444 7,235 18,736 Uncollected cash items 3,516,467 256,815 631,823 223,447 317,544 297,063 274,764 561,153 162,460 94,970 185,922 168,378 342,128 Bank premises Other assets 154^043 8^231 3&608 9!l48 13] 473 9^294 I',ill 25:881 6^71 3^02 7^01 6,684 16/792 50,691,388 2749,666 13,162,460 3105,370 4324,089 2977,434 2611,730 8924,507 2130,327 1251,589 2124,551 1917,290 5412,375 TOTAL ASSETS l/ After deducting $16,000 participation sof other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANK SON MARC H10, 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. SanFran Federal Reserve notes 25,682,616 1579,1^7 5,696,598 1836,953 2390,172 1761,166 1368,250 4967,083 1166,125 635,547 999,008 713,254 2569,31 Deposits: Member bank-reserve accts. U.S.Treasurer-general acct, 1 9,640,328 799,793 6,119,789 917,000 1479,105 838,392 907,203 3203,695 728,171 458,380 883,945 964,224 2340,63] F O o t r h e e i r g n 4 4 3 4 8 4 7 6 6 , , , 8 1 4 8 4 8 4 7 3 2 2 , 8 3 6 , 1 6 6 3 , 7 0 2 08 1/15 9 3 5 , , 1 7 2 7 8 8 4 3 1 4 , , 5 7 8 8 2 0 4 33 3 , , 7 2 4 4 3 0 4 2 1 3 , , 6 9 5 7 9 0 2 2 0 5, , 3 2 2 1 5 0 6 5 5 9 , , 3 1 3 5 0 0 1 2 7 7 , ,7 8 1 6 7 0 1 3 1 0 , , 7 2 5 8 0 9 2 1 6 7 , ,8 2 6 99 0 1 2 6 2 , , 5 09 8 0 8 4 1 7 8 , , 9 1 5 4 c ; 283,594 873 5,190 3,072 2,006 702 8,602 1,737 5,519 876 31.35C Total deposits 20,920,842 862,334 6,652,289 994,235 1561,278 907,093 954,744 3328,877 782,350 502,156 933,623 1003,778 2438,08= Deferred avail, cash items Other liabilities and 2,973,942 239,884 500,439 192,711 271,071 250,050 237,947 471,415 137,318 84,339 147,988 148,792 291,9# accrued dividends 16,840 889 4,951 850 1,726 846 751 2,869 598 480 608 646 1,626 TOTAL LIABILITIES 49,594,240 2682,254 12,854,277 3024,749 4224,247 2919,155 2561,692 8770,244 2086,391 1222,522 2081,227 1866,470 5301,012 Capital paid in 269,749 14,614 83,235 18,298 25,789 11,930 11,593 35,550 9,327 6,032 10,260 13,458 29,663 Surplus (Section 7) Surplus (Section 13b) 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 Other capital accounts 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4c TOTAL LIABILITIES AMD 174,843 11,008 40,996 11,925 15,399 11,250 9.649 26,492 8.623 5,743 8,471 7,909 17.37S CAPITAL ACCOUNTS 50,691,388 2749,666 13,162,460 3105,370 4324,089 2977,434 2611,730 8924,507 2130,327 1251,589 2124,551 1917,290 5412,375 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 9,372 573 2/2,698 696 865 479 4o4 1,307 357 235 357 442 959 3,168 1,356 748 47 127 25 865 FEDERAL RESERVE AGENTS 'ACCOUNTS F. R. notes outstanding 26,822,063 1652,921 5,933,431 1944,226 2497,323 1858,373 1445,838 5117,890 1220,487 649,924 1029,038 746,332 2726,280 Collateral for F.R. notes: Gold certificates n,093,ooo 640,000 2,670,000 800,000 1050,000 625,000 435,000 2400,000 355,000 175,000 280,000 283,000 1380 000 Eligible paper 245,585 13,420 137,815 23,325 — 24,900 6,700 6,120 15,020 --- -.Q U. S. Govt, securities 18,285 Total collateral 1 28 7 . , • 1 4 J 5 0 5 3 i , . 0 n 0 V c 0 r c H 1 c O 2 ; cn 0 i 0 A l , P c 0 n ' 00 l 3 X , X 6 0 ' h 0 ,0 y k u 0 . 0 u ( 1 , 2 Y 0 7 0 , R 0 n 00 : 1 o 5 r 50 \ , o 0 o 0 0 0 0c to),/ 1 - 3 , 0 0 n . n 0 n 00 lioo.oo o -i 2 „ 8o — o,ooo 960,000 U 5 IA 0 J 0 ? ,0 V 0 V 0 , V f V 8 V t 0 s 0 O , , V 0 V 0 ' 0 , V ' V V 525,000 1Q6U2O 0J,.0O0Z0O . OOO .493,585 1853,420 6,407,815 2023,325 2600,000 1949,900 1535,000 5200,000 1321,700 681,120 1095,020 808,000 3018,285 j7 After deducting $333,700,000 participations of other Federa lReserve Banks. Digitized for FRASER _2/ After deducting $6,674,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis