H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) April 1, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended March 31; Member ban kreserves decreased $5^5 million. The principal changes reducing reserves were increases of $183 million in Treasury deposits with Federal Reserve Banks, $69 million in Money in circulation, and $12 million in Treasury cash holdings, and a decrease of $309 millio nin Reserve Bank credit. The principal offsetting change was a decreas eof $23 million in Foreign deposits with Federal Reserve Banks. The decrease of $309 millio nin Reserve Bank credit resulted from decreases of $202 million in Loans, discounts and advances, $73 million in U. S. Government securities held under repurchase agreement, and $34 million in Float. Change since Member Bank Reserves larch 31, March 24, April 1, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,632 +826 Held under repurchase agreement -- - 73 Loans, discounts and advances 148 -202 -321 Float 535 - 34 -213 Total 25,316 -309 +293 Gold stock 21,965 + 1 -598 Treasury currency outstanding 4,93'ab + 7 +105 Money in circulation 29,70-ar1 + 69 - 53 Treasury cash holdings 8SB^ + 12 -482 Treasury deposits with F. R. Banks 722 +183 +436 Foreign deposits with F. R. Banks 494 - 23 - 56 Other deposits with F. R. Banks 363 + 5 + 19 Other F. R. account s(net) 917 - 2 + 48 Member bank reserves 19,194 -545 -111 Required reserves (estimated) 18,759 - 86 -759 Excess reserves (estimated) 435 -459 +648 Daily averages for period-- Estimated excess reserves of member banks 657 - 44 +143 Member bank borrowings at F. R. Banks 175 + 13 -966 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,784 million, an increase of $17 millio nfor the week and an increase of $531 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since March 31, March 54, April 1, 1954 1954 1953 A S S E TS Gold certificates 20,399,102 10,001 - 219,999 Redemption fund for F. R. notes 878,976 + 6,052 + 130,841 Total gold certificate reserves 21,278,078 3,949 - 09,150 Other cash 427,475 - 11,380 + 66,337 Discounts and advances 146,864 - 201,655 - 318,190 Industrial loans 1,470 165 2,109 U. S, Government securities: Bought outright— Bills 1,910,975 +1,396,221 Certificates 6,051,191 +1,055,475 -- Notes 13,029,021 - 744,650 Bonds 3,641,150 - 880,825 — — Total bought outright 24,632,337 + 826,221 - - Held under repurchase agreement - 73,000 Total U. S. Government securities -- -- 24,632,337 73,000 525,221 Total loans and securities 24,780,671 - 274,820 + 505,922 Due from foreign banks 22 1 F. R. notes of other banks 155,130 - 14,127 - 10,803 Uncollected cash items 3,844,884 - 217,197 - 146,343 Bank premises 52,910 + 26 + 3,559 Other assets 164,697 + 7,741 1,775 TOTAL ASSETS 50,703,867 - 513,706 + 327,738 L I A B I L I T I ES Federal Reserve notes 25,486,575 + 43,081 - 76,429 Deposits: Member bank--reserve accounts 19,194,192 - 544,988 - Ill,162 U. S. Treasurer--general account 722,054 + 183,458 + 435,570 Foreign 493,801 - 23,483 - 56,162 Other 362,892 + 5,144 + 18,768 Total deposits 20,772,939 - 379,869 + 287,014 Deferred availability cash items 3,309,596 - 183,231 + 66,736 Other liabilities and accrued dividends l8,08l 269 ± km TOTAL LIABILITIES 59,507,191 - 520,288 + 279,052 C A P I T AL A C C O U N TS Capital paid in 270,208 222 + 13,307 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 193,912 + 6,360 4,958 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,703,867 - 513,706 + 327,738 Ratio of gold certificat ereserves to deposit and F. R, not eliabilities combined 46.0$ .3# Contingent liability on acceptances purchased for foreign correspondents 12,916 3,162 16,673 Industrial loan commitments 2,957 120 134 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 31, 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 129,939 152 3*37750 16 to 90 days 16,925 15 3,252,591 91 days to 1 year 1,256 12,277,575 Over 1 year to 5 years 47 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years 1,414,857 Digitized for T FR o A t S a E l R 146,864 1,470 24,632,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON MARCH 31, 1954 H.4.1(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 20,399,102 1000,521 5,689,727 1264,620 1857,107 1033,802 937,115 3515,082 e- 00 3 448,240 807,586 769,132 2294,936 Redemption fund for F. R notes 878,976 53,339 178,103 58,166 80,369 73,750 *r V M DC 149,445 48,803 25,278 40,969 29,946 83,390 Total gold certificate reserves 21,278,078 1053,860 5867,830 1322,786 1937,476 1107,552 994,533 3664,527 830,037 473,518 848,555 799,078 2378,326 Other cash 427,475 32,388 78,202 25,404 34,746 21,796 38,369 79,281 27,206 10,050 13,085 17,875 49,073 Discounts and advances 146,864 16,362 12,565 6,630 4,032 11,370 20,345 36,580 7,370 12,850 15,700 705 2,355 Industrial loans 1,470 — - - 1,215 — 142 — -- 113 — - - U S. Govt, securities: Bought outright-- Bills 1,910,975 105,226 491,938 111155,,114444 116622,,222211 113,322 97,744 333300,,227788 8800,,339977 4477,,116655 8833,,228866 75,909 208,345 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 Held under repurchase agreement Total U. S. Government securities 24,632,337 1356,355 6,341,053 1484,197 2091,015 1460,698 1259,919 4257,256 1036,307 607,951 1073,551 978,470 2685,565 Total loans and securities 24,780,671 1372,717 6,353,618 1492,042 2095,047 1472,06 81280,406 4293,836 1043,677 620,914 1089,251 979,175 2687,920 Due from foreign banks 22 1 1y 6 2 2 1 1 3 1 1 1 1 2 F.R. notes of other banks 155,130 3,201 19,333 7,694 7,452 23,453 27,264 16,104 8,761 10,298 5,246 8,l84 18,l4o Uncollected cash items 3,844,884 296,886 783,749 232,620 431,631 313,597 272,994 582,116 157,335 94,318 166,048 164,655 348,935 Bank premises 52,910 6,131 7,525 4,841 5,161 4,66l 3,992 6,390 2,881 1,017 2,207 578 7,526 Other assets 164,697 8,926 41,368 9,926 14,218 9,848 9,032 27,744 6,717 4,039 7,748 7,104 18,027 TOTAL ASSETS 50,703,867 2774,110 13,151,631 3095,315 4525,733 2952,976 2626,591 8670,001 2076,615 1214,155 2132,141 1976,650 5507,949 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 FEDERA LRESERVE BAMS ON MARCH 31, 1954 1.4.1(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 1568,068 5,688,128 1817,009 2356,571 1745,684 1360,986 4927,031 1155,179 628,812 25,486,575 Deposits: 993,583 708,187 2537,33' Member bank-reserve accts." I I 1 1 1 I f If I! H I! is U.S.Treasurer-general acct. 414,337 887,999 983,904 2412,58• 38,856 Foreign 42,277 53,579 63,41* Other 12,073 18,350 22,696 49,271 1,655 5,634 582 30.S7C Total deposits Deferred avail, cash items 466,921 954,260 1060,761 2555,85% i i m if a % % Other liabilities and 88,391 139,604 155,512 299,575 accrued dividends 18,081 982 5,517 1.040 1.916 781 797 3,043 635 51L 648 620 1.58= k9 TOTAL LIABILITIES fl:Z % «>*.% 2088,095 Capital paid in 1184,64l 1925,080 5394,34E Surplus (Section 7) 6,034 10,261 13,477 29,66$ Surplus (Section 13b) %:°l! 1;2i "7:319 1 ;® 5I;^6 'tig 2 81S ^ 1% 25:*g 16,219 23,456 28,146 62,182 Ot T h O e T r A L c a L p I i A t B a I l L a I c T c I o E u S n A t M s D 1 9 3 , 1 1 ,y e* *6,193 .12,019 16.937 12:307 10,511 29:983 9 348 6 1, ,1 0 8 7 8 3 9 1 ,1 , 9 13 2 7 8 1, ,6 3 4 0 0 7 1 2 9 ,1 ,6 4 1 c c CAPITAL ACCOUNTS 50,703,867 2774,110 13,151,631 3095,315 4525,733 2952,976 2626,591 8670,001 2076,615 1214,155 2132,141 1976,650 5507,949 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 12,916 787 2/3,757 955 1,187 658 555 1,793 490 322 490 606 1,316 2,957 1,148 748 47 124 25 865 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,714,686 1636,032 5,928,373 1934,492 2480,011 1847,577 l44o,485 5080,715 1219,628 Collateral for F.R. notes: 655,707 1023,100 761,490 2707,076 Gold certificates n,093,000 640,000 2,670,000 800,000 1050,000 625,000 435,000 2400,000 355 000 Eligible paper 74,417 15,447 7,615 5,520 — 10,605 6 800 175,000 280,000 283,000 1380,000 U. S. Govt, securities 12,475 15,130 — 825 l,??'?00 1!00'Q?° 3,600,000 1200,000 1550,000 1300,000 1100,000 2800.00 0960'000 Total collateral 500,000 800,000 525,000 1620.000 20,322,417 1855,447 6,277,615 2005,520 2600,00 01935,605 1535,000 5200,000 1321,'800 ~ *7,475 1095,130 008,000 3000,825 1/ After deducting $342,859,000 participations of other Federa lReserve Banks. 2/ After deducting $9,159,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis