H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS 05* THE FEDERA LRESERVE SYSTEM (For Immediate Release) March 25, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items _ During the week ended March 24, Member bank reserves decreased $568 million. The principal changes reducing reserves were increases of $488 million in Treasury deposits with Federal Reserve Banks and $167 million in Other deposits with Federal Reserve Banks, and a decrease of $79 million in Reserve Bank credit. The principal offsetting changes were decreases of $"*•37 million Money circulation, $13 million in Treasury cash holdings, and $11 million in Foreign deposits with Federal Reserve Banks. The decrease of $79 million in Reserve Bank credit resulted from a decrease of $286 million in Float and increases of $8 3million in Loans, discounts and advances, $73 million in U. S. Government securities held under repurchase agreement, and $50 million in U. S. Government securities bought outright. Holdings of U. S. Government securities bought outright reflected an increase of $50 million in bills. Change since Member Bank Reserves March 24, March 17, March 25, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,632 + 50 + 763 Held under repurchase agreement 73 + 73 + 73 Loans, discounts and advances 350 + 83 - 358 Float 569 -286 241 - Total 25,625 - 79 + 238 Gold stock 21,964 598 - Treasury currency outstanding 4,925 + 5 + 99 Money in circulation 29,632 -137 + 32 Treasury cash holdings 810 - 13 496 - Treasury deposits with F. R. Banks 539 +488 + 532 Foreign deposits with F. R. Banks 517 - 11 + 6 Other deposits with F. R. Banks 358 +167 + 7 Other F. R. account s(net) 919 + 67 Member bank reserves 19,739 -568 409 - Required reserves (estimated) 18,845 -353 -1, 009 Excess reserves (estimated) 894 -215 + 600 Daily averages for period-- Estimated excess reserves of member banks 701 - 39 + 96 Member bank borrowings at F. R. Banks 162 - 8 762 - U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,767 million, an increase of $40 million for the week and an increase of $535 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 March 24, March 17, March 25, 1954 1954 1953 A S S E TS Gold certificates 20,409,103 + 10,002 „ 209,997 Redemption fund for F. R. notes 872,924 - 115 + 118,799 Total gold certificate reserves 21,282,027 + 9,907 91,198 - Other cash 438,855 + 9,362 + 58,144 Discounts and advances 348,519 + 83,206 - 356,045 Industrial loans 1,635 + 96 - 1,897 U. S. Government securities: Bought outright-- Bills 1,910,975 + 50,000 +1, 396,221 Certificates: Special - 63,000 Other 6,051,191 — — +1,055,475 Notes 13,029,021 — e. - 744,650 Bonds 3,641,150 - - - 880,825 Total bought outright 24,632,337 + 50,000 + 763,221 Held under repurchase agreement 73,000 + 73,000 + 73,000 Total U. S. Government securities 24,705,337 + 123,000 + 836,221 Total loans and securities 25,055,491 + 206,302 + 478,279 Due from foreign banks 22 — — - 1 F._ R. note sof other banks 169,257 + 9,405 + 1,545 Uncollected cash items 4,062,081 -1., 395,004 - 272,014 Bank premises 52,884 + 42 + 3,427 Other assets 156,956 + 7,8l4 - 21,268 TOTAL ASSETS 51,217,573 -1,152,192 + 156,914 L I A B I L I T I ES Federal Reserve notes 25,443,494 126,744 + 3,872 - Deposits: Member bank--reserve accounts 19,739,180 568,086 409,254 U. S. Treasurer--general account 538,596 + 487,406 + 531,210 Foreign 517,284 - 10,709 + 6,565 Other 357,748 + 167,176 + 6,806 Total deposits 21,152,808 + 75,787 + 135,327 Deferred availability cash items 3,492,827 -1,, 109,010 - 31,143 Other liabilities and accrued dividends 18,350 + 1,473 + 571 TOTAL LIABILITIES 50,107,479 -1,150,494 + 108,627 C A P I T AL A C C O U N TS Capital paid in 269,986 + 34 + 13,108 Surplus (Section 7) 625,013 — - + 40,337 Surplus (Section 13b) 27,543 •» — mm w Other capital accounts 187,552 + 6,268 - 5,158 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,217,573 152,192 + 156,914 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7# + .1% - •3 fo Contingent liability on acceptances purchased for foreign correspondents 9,754 + 562 18,197 Industrial loan commitments 3,077 - 127 + 220 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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 326,817 508 492,750 16 to 90 days 21,702 17 3,177,591 91 days to 1 year 1,064 12,277,575 Over 1 year to 5 years 46 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years Digitized for FRASER 1,414,857 http://fraser.stTloouitsfaedl.o rg/ 348,519 1,635 24,705,337 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 2b, 1954 (In thousands of dollars) 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 20,1+09,103 994,741 6,005,328 1247,988 1746,268 988,401 880,165 3603,260 758,111 442,285 765,258 682,160 2295,138 Gold certificates Redemption fund for 872,924 53,534 178,772 58,551 80,593 65,465 57,577 149,703 48,871 25,304 41,028 29,999 83,527 F. R. notes Total gold certificate 21,282,027 1048,275 6,184,100 1306,539 1826,861 1053,866 937,742 3752,963 806,982 467,589 806,286 712,159 2378,665 reserves O D t i h s e c r ou n c t a s s h a nd advances 4 3 3 4 8 8 , , 8 5 5 1 5 9 3 1 2 1 , , 5 6 0 8 8 2 1 8 6 4 9 , , 2 4 3 9 9 0 2 7 7 , , 2 34 2 0 0 3 9 6 , , 1 7 8 5 2 0 1 2 4 3 , , 8 6 9 1 0 2 36 , 1 1 0 8 , 7 2 4 7 5 9,5 9 8 9 5,630 2 5 7 ,0 , 7 4 0 76 1 9 9 , , 3 1 4 0 7 0 1 1 1 3 , , 4 5 3 2 0 1 8 1 0 7 5 ,785 5 3 0 , , 7 4 7 9 5 1 Industrial loans 1,635 1,372 150 -- -- 113 U. S. Govt, securities: Bought outright— 1 191 1 0,975 1 105,22 6 I 491I,938 S 115, 1 I 44 I 16 I 2,22 1 1113,3:22 1 97,7 44 I 33I0,27I8 8I0,39I7 4I7,16I5 8 I 3,28 6 175,9109 .1 208,1345 Ilia Bills Certificates Notes Bonds Total Held under repurchase 73,000 73,000 11 n n 11 11 11 — — agreement Total U. S. Government 24,705,337 1356,355 6,414,053 1484,197 2091,015 1460,698 1259,919 4257,256 1036,307 607,951 1073,551 978,470 2685,565 securities Total loans and 25,055,491 1368,037 6,583,543 1492,789 2100,197 1475,588 1270,314 4342,886 1041,377 627,164 1084,981 979,275 2689,340 securities Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 l l „ l 2 F.R. notes of other banks 169,257 2,722 20,311 8,007 9,313 24,381 30,654 17,627 8,646 10,970 8,602 6,901 21,123 299,374 658,605 172,638 100,999 205,480 215,463 380,455 Uncollected cash items 4,062,081 310,133 718,150 253,434 379,378 367,972 Bank premises 52,884 6,131 7,500 4,84l 5,169 4,661 3,954 6,410 2,887 1,019 2,205 58l 7,526 Other assets 156,956 8,346 39.479 9.419 13,410 9,374 8,650 26,405 6,356 3,827 7,466 7,018 17,206 2586,876 8884,498 2066,363 1220,916 2128,542 1939,183 5544,808 TOTAL ASSETS 51,217,573 2776,153 13,637,328 3102,371 4371,060 2959,455 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 24 ,I95I+ 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 25,443,494 1566,305 5,664,290 1820,692 2364,144 1742,191 1351,246 4931,874 1153,098 629,887 985,509 702,644 2531,614 Deposits: Member bank-reserve accts. 19,739,180 815,930 6,107,119 935,939 1524,695 799>2l 890,321 3159,835 696,260 450,963 913,249 950,117 2495,331 U.S.Treasurer-general acct 538,596 533 531,092 279 573 589 1,531 504 558 453 407 513 1,564 Foreign 517,284 31,116 1/155,094 37,747 46,929 26,015 21,934 70,904 19,384 12,753 19,384 23,975 52,049 Other 357,748 4,407 292,695 2,215 4,116 3,535 1,079 1,225 7,206 1,340 4,86l 712 34,357 Total deposits 21,152,808 851,986 7,086,000 976,180 1576,313 829,560 914,865 3232,468 723,408 465,509 937,901 975,317 2583,301 Deferred avail, cash items 3,492,827 288,951 569,365 223,268 327,940 327,818 269,309 560,758 144,822 95,596 160,638 209,044 315,318 Other liabilities and accrued dividends 18,350 907 6,083 840 1,806 846 783 2,785 619 556 626 864 1,635 TOTAL LIABILITIES 50,107,479 2708,149 13,325,738 3020,980 4270,203 2900,415 2536,203 8727,885 2021,947 1191,548 2084,674 1887,869 5431,868 Capital paid in 269,986 14,629 83,288 18,315 25,817 11,980 11,625 35,565 9,329 6,034 10,260 13,477 29,667 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 187,552 11,585 44,350 12,678 l6,4o6 11,961 10,252 28,827 9,101 6,042 9,015 8,384 18,951 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,217,573 2776,153 13,637,328 3102,371 4371,080 2959,455 2586,876 8884,498 2066,363 1220,916 2128,542 1939,183 5544,808 Contingent liability on acceptances purchased for foreign correspondents 9,754 592 2/2,867 718 892 495 417 1,348 369 242 369 456 989 Industrial loan commitments 3,077 1,268 748 47 124 25 865 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,686,440 1643,239 5,904,62? 1938,125 2485,536 1852,041 1439,715 5087,226 1214,421 647,540 1019,412 743,207 2711,351 iollateral for F.R. notes: Gold certificates 11,093,000 64o,ooo 2,670,000 800,000 1050,000 625,000 435,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 231,872 10,767 164,540 6,110 14,125 4,500 18,725 10,860 2,245 U. S. Govt, securities 17,155,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1100,000 2800,000 960,000 500,000 800,000 525,000 1620.000 Total collateral 28,479,872 1850,767 6,434,540 2006,110 2600,000 1939,125 1535,000 5200,000 1319,500 693,725 1090,860 808,000 3002,245 l/ After deducting $362,171,000 participations of other Federa lReserve Banks. 2/ After deducting $6,887,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis