H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) April 8, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended April 7, Member bank reserves increased # $78 million. The principal changes supplying reserves were a decrease of $^52 million in Treasury deposits with Federal Reserve Banks and an increase of $41 million in Reserve Bank credit. The principal offsetting changes were increases of $94 million in Money in circulation and $19 million in Other F. R. accounts (net). The increase of $4l million in Reserve Bank credit resulted from increases of $31 million in Loans, discounts and advances and $11 million in Float. Change since . Member Bank Reserves April 7., March 31, April 8 and Related Items 1954 1954 1953 ((IInn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,632 — — + 826 Held under repurchase agreement — - — — — — Loans, discounts and advances 179 + 31 - 733 Float 546 + 11 - 163 Total 25,357 + 4l - 70 Gold stock 21,966 + 1 - 596 Treasury currency outstanding 4,935 + 3 + 107 Money in circulation 29,795 + 94 + 15 Treasury cash holdings 823 + 1 - 477 Treasury deposits with F. R. Banks 570 -152 + 241 Foreign deposits with F. R. Banks 491 - 3 - 77 Other deposits with F. R. Banks 371 + 8 + 28 Other F. R. accounts (net) 936 + 19 + 68 Member bank reserves 19,272 + 78 - 357 Required reserves (estimated) 18,761 + 2 - 711 Excess reserves (estimated) 511 + 76 + 354 Daily averages for period-- Estimated excess reserves of member banks 587 - 70 + 20 Member bank borrowings at F. R. Banks 134 - 41 -1,215 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,791 million, an increase of $7 million for the week and an increase of $546 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) April 7, March 31/ April ti, 1954 1954 1953 A S S E TS Gold certificates 20,399,101 1 215,002 Redemption fund for F. R. notes 878,976 - - + 131,809 Total gold certificate reserves 21,278,077 - 1 - 83,193 Other cash 404,796 - 22,679 + 53,340 Discounts and advances 177,292 + 30,428 730,646 - Industrial loans 1,491 + 21 2,132 — 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 Total U. S. Government securities 24,632,337 + 826,221 - - Total loans and securities 24,811,120 + 30,449 + 93,443 Due from foreign banks 22 —— - 1 F. R. notes of other banks 140,275 - 14,855 - 16,646 Uncollected cash items 3,355,631 - 489,253 - 237,709 Bank premises 52,908 - 2 + 3,362 Other assets 152,212 - 12,485 22,706 TOTAL ASSETS 50,195,041 508,826 210,110 - - L I A B I L I T I ES Federal Reserve notes 25,539,950 + 53,375 - 19,817 Deposits: Member bank--reserve accounts 19,271,730 + 77,538 357,580 U. S. Treasurer—general account 570,451 - 151,603 + 241,433 Foreign 491,052 - 2,749 - 76,891 Other 371,100 + 8,208 + 28,535 Total deposits 20,704,333 - 68,606 164,503 Deferred availability cash items 2,809,471 - 500,125 - 75,053 Other liabilities and accrued dividends 18,123 + 42 + 1,348 TOTAL LIABILITIES 49,071,877 515,314 258,025 • - C A P I T AL A C C O U N TS Capital paid in 270,423 + 215 + 13,416 Surplus (Section 7) 625,013 - - + 40,337 Surplus (Section 13b) 27,543 — — Other capital accounts 200,185 + 6,273 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments LPs CO CO 50,195,041 506,826 210,110 - - 46,0$ -- -- 14,482 + 1,566 15,867 2,891 - 66 + 73 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 7, 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 160,600 m 325,700 l6 to 90 days 16,692 275 3,271,641 91 days to 1 year 1,051 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 Digitized for FRASER l ^ M 57 http://fraser.stloTuoistfeadl.o rg/ 177,292 1,491 24,632,337 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 7, 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 20,399,101 992,767 5,674,910 1278,784 1737,820 1029,224 943,454 3668,844 782,645 463,434 813,121 745,279 2268,819 Redemption fund for F. R. notes 878,976 53,339 178,103 58,167 80,369 73,750 57,418 149,445 48,803 25,278 40,969 29,946 83,389 Total gold certificate reserves 21,278,077 1046,106 5 , 8 5 3 , 0 13 1336,951 1818,189 1102,974 1000,872 3818,289 831,448 488,712 854,090 775,225 2352,208 Other cash 404,796 31,531 77,479 23,404 35,334 21,781 32,758 75,133 25,834 9,196 11,191 17,442 43,713 Discounts and advances 177,292 14,102 17,855 7,278 7 , 7 26 10,847 19,946 6 0 , 8 58 3,186 17,975 13,716 1,034 2,769 Industrial loans 1,491 1,269 -- -- 110 — 112 — U. S. Govt, securities: Bought outright— Bills 1,910,975 105,444 488,124 116,298 163,784 112,552 97,328 334,073 79,965 46,928 82,447 75,090 208,942 Certificates 6 , 0 5 1 , 1 91 333,893 1,545,668 368,263 518,629 356,403 308,193 1057,857 253,212 148,599 261,073 237,776 661,625 Notes 13,029,021 718,915 3,328,029 792,921 1116,679 767,383 663,582 2277,707 545,199 319,953 562,124 511,962 1424,567 Bonds 3,641,150 200,911 221 * 2:73 jLdfU (d f JLOp,44f OjO jy juh- Total 24,632,337 1359,163 6,291,887 1499,075 2111,164 1450,795 1254,550 4306,176 1030,740 604)896 1062/738 967,903 2693,250 Held under repurchase agreement Total U. S. Government securities 24,632,337 1359,163 6 , 2 9 1 , 8 87 1499,075 2111,164 1450,795 1254,550 4306,176 1030,740 604,896 1062,738 967,903 2693,250 Total loans and securities 2 4 , 8 1 1 , 1 20 1373,265 6 , 3 0 9 , 7 42 1507,622 2118,890 1461,642 1274,606 4367,034 1033,926 622,983 1076,454 968,937 2696,019 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 F.R. notes of other banks 140,275 2,365 16,158 6,406 9 , 5 66 19,998 25,283 15,227 7,899 8 , 9 98 5,226 6 , 8 42 16,307 Uncollected cash items 3,355,631 266,173 627,470 204,714 301,261 269,362 239,993 527,399 149,457 89,044 185,691 161,579 333,488 Bank premises 52,908 6,131 7,530 4,84l 5,161 4,662 3,992 6,391 2,882 1,017 2,197 578 7,526 Other assets 152,212 8 , 0 60 38,051 9,082 13,306 9 , 0 64 8,355 25,758 6,622 3,735 7,181 6,459 16,539 TOTAL ASSETS 50,195,041 2733,632 12,929,449 3093,022 4301,709 2889,484 2585,860 8835,234 2058,069 1223,686 2142,031 1937,063 5465,802 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 APRIL 7, 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 25,539,950 1574,381 5,690,312 1820,536 2361,489 1750,279 1367,402 4930,851 1156,135 631,965 994,796 707,018 2554,786 Deposits: Member bank-reserve accts. 19,271,730 778,325 5,883,690 929,320 1474,800 793,706 903,133 3136,089 688,488 436,947 896,875 967,894 2382,463 U.S.Treasurer-general acct. 570,451 38,845 118,172 36,651 41,996 32,509 32,509 90,491 21,398 32,092 36,964 45,898 42,926 Foreign 491,052 29,530 1/147,322 35,823 44,537 24,689 20,816 67,290 18,396 12,103 18,396 22,753 49,397 Other 371,100 3,120 302,151 1,687 6,444 3,598 1,100 5,879 8,295 1,507 2,870 779 33,670 Total deposits 20,704,333 849,820 6,451,335 1003,481 1567,777 854,502 957,558 3299,749 736,577 482,649 955,105 1037,324 2508,456 Deferred avail, cash items 2,809,471 239,835 467,125 185,850 268,177 224,049 208,844 442,831 119,828 78,863 147,093 140,246 286,730 Other liabilities and accrued dividends 18,123 980 5,562 948 2,179 866 834 2.857 628 541 582 672 1,474 TOTAL LIABILITIES 49,071,877 2665,016 12,614,334 3010,815 4199,622 2829,696 2534,638 8676,288 2013,168 1194,018 2097,576 1885,260 5351,446 Capital paid in 270,423 14,622 83,313 18,424 25,964 12,016 11,630 35,587 9,335 6,034 10,331 13,480 29,687 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 200,185 12,204 47,850 13,385 17,469 12,673 10,796 31,138 9,580 6,342 9,531 8,870 20,347 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,195,041 2733,632 12,929,449 3093,022 4301,709 2889,484 2585,860 8835,234 2058,069 1223,686 2142,031 1937,063 5465,802 Contingent liability on acceptances purchased for foreign correspondents 14,482 884 2/ 4,187 1,073 1,334 739 624 2,016 551 363 551 681 1,479 Industrial loan commitments 2,891 1,090 748 47 124 24 858 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,682,373 1633,284 5,890,091 1931,752 2474,679 1856,902 1439,080 5085,126 1217,283 656,178 1020,774 756,356 2720,868 Collateral for F.R. notes: Gold certificates 11,043,000 640,000 2,670,000 800,000 950,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 7 • 2 , - 0 9 - 0 — 12,760 2 10,775 , 5,650 3 509,725 17,425 12,880 525 U. S. Govt, securities 17,055,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2800,000 960,000 500.000 800,000 525,000 1620,000 Total collateral 28,170,090 1852,760 6,280,775 2005,650 2500,000 1934,725 1485,000 5200,000 1317,350 692,425 1092,880 808,000 3000,525 1/ After deducting $343,711,000 participations of other Federal Reserve Banks, 2/ After deducting $10,295,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis