H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) May 6, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended May 5, Member bank reserves decreased $492 million. The principal changes reducing reserves were increases of $132 million in Foreign deposits with Federal Reserve Banks, $118 million in Treasury deposits with Federal Reserve Banks, $111 million in Money in circulation, and $23 million in Other deposits with Federal Reserve Banks, and a decrease of $109 million in Reserve Bank credit. The decrease of $109 million in Reserve Bank credit resulted from decreases of $77 million in Loans, discounts and advances and $32 million in Float. Change since Member Bank Reserves May 5, April 28, May 6, 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 - 54 Loans, discounts and advances l4l - 77 -795 Float 501 - 32 -146 Total 25,274 -109 -169 Gold stock 21,969 + 1 -592 Treasury currency outstanding 4,951 + 4 +111 Money in circulation 29,756 +111 -107 Treasury cash holdings 837 + 8 -448 Treasury deposits with F. R. Banks 617 +118 +403 Foreign deposits with F. R. Banks 601 +132 + 84 Other deposits with F. R. Banks 328 + 23 - 46 Other F. R. accounts (net) 849 - 3 + 69 Member bank reserves 19,207 -492 -6o4 Required reserves (estimated) 18,848 + 74 -538 Excess reserves (estimated) 359 -566 - 66 Daily averages for period-- Estimated excess reserves of member banks 709 -254 +253 Member bank borrowings at F. R. Banks 150 + 10 -976 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,846 million, a decrease of $11 million for the week and an increase of $413 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 May 5, April 28, May 6, 1954 1953 1 9 54 A S S E TS Gold certificates 20,412,102 + 2 - 220,998 Redemption fund for F. R. notes 870,887 + 123,601 - 3 37 Total gold certificate reserves 21,282,989 - 3 35 9 7 , 3 97 Other cash 381,079 14,842 + 46,134 Discounts and advances 139,680 - 77,043 - 792,814 Industrial loans 1,269 + 48 - 2,193 U. S. Government securities: Bought outright— Bills 1,910,975 -- + 1 , 3 9 6 , 2 21 Certificates 6,051,191 — — +1,055,475 Notes 13,029,021 — — - 744,650 Bonds 3,641,150 — — - 8 8 0 , 8 25 Total bought outright 24,632,337 + 826,221 Held under repurchase agreement -- - - - 54,300 Total U. S. Government securities 24,632,337 -- + 771,921 Total loans and securities 24,773,286 76,995 23,086 Due from foreign banks 22 1 - F. R. notes of other banks 145,043 - 10,024 - 2,580 Uncollected cash items 3,531,277 - 20,953 + 26,316 Bank premises 53,374 + 110 + 3,837 Other assets 187,252 + 8,502 - 24,051 TOTAL ASSETS 50,354,322 - 114,537 - 70,828 L I A B I L I T I ES Federal Reserve notes 25,481,606 + 87,794 - 127,702 Deposits: Member bank--reserve accounts 1199,,220066,,559911 - 492,324 - 660044,,448899 U. S. Treasurer—general account 617,075 + 117,832 + 402,598 Foreign 600,895 + 131,836 + 84,032 Other 328,482 23,778 - 45,224 Total deposits 20,753,043 - 2 1 8 , 8 78 - 163,083 Deferred availability cash items 3,030,489 + 11,430 + 172,055 Other liabilities and accrued dividends 1 8 , 2 87 - 1,072 - 129 TOTAL LIABILITIES 49,283,425 120,726 116,659 - - C A P I T AL A C C O U N TS Capital paid in 271,251 + 48 + 13,719 Surplus (Section 7) 625,013 - - + 40,337 Surplus (Section 13b) 27,543 — Other capital accounts 147,090 + 6,141 6,025 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,354,322 114,537 70,828 - - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4466..00## + ..11## -- Contingent liability on acceptances purchased for foreign correspondents 16,405 - 50 > • 15,684 Industrial loan commitments 2 , 8 99 - 59 + 17 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 5, 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 121,464 " I 440,100 l6 to 90 days 18,216 260 3,157,241 91 days to 1 year 959 12,277,575 Over 1 year to 5 years 44 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years 1.414.857 Digitized for FR T A o SE t R a l 139,680 24,632,337 http://fraser.stlouisfed.org/ 1 , 2 69 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS 0N°MAY 5, 1954 HA.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 2 0 , 4 1 2 , 1 02 1 0 3 2 , 0 66 5, 6 3 5 , 6 64 1 2 6 0 , 1 76 1 6 7 5 , 2 11 9 8 5 , 6 91 952,327 3 5 7 6 , 2 65 7 8 0 , 9 24 517,679 9 3 7 , 8 66 760,141 2 2 9 8 , 0 92 Redemption fund for F. R. notes 8 7 0 , 8 87 5 2 , 8 80 1 7 6 , 3 20 59,284 79,750 69,356 56,950 148,851 48,616 25,203 40,827 2 9 , 8 12 8 3 , 0 38 Total gold certificate reserves 21,282,989 1084,946 5,811,984 1319,460 1754,961 1055,047 1009,277 3725,116 829,540 542,882 978,693 789,953 2 3 8 1 , 1 30 Other cash 3 8 1 , 0 79 2 5 , 6 91 7 1 , 1 81 22,394 33,596 21,277 33,315 6 8 , 6 00 24,624 9 , 6 76 10,146 1 8 , 0 15 4 2 , 5 64 Discounts and advances 139,680 ll,4o4 13,630 5,947 10,701 18,534 32,337 13,724 5,750 4,376 2,316 9 , 2 83 1 1 , 6 78 Industrial loans 1 , 2 69 —— 1 j 1 61 — — •• — — — — — — 1 08 • •• U. S. Govt, securities: Bought outright-- Bills 1,910,975 105,444 4 8 8 , 1 24 1 1 6 , 2 98 163,784 112,552 9 7 , 3 28 334,073 79,965 46,928 82,447 75,090 2 0 8 , 9 42 Certificates 6,051,191 333,893 1 , 5 4 5 , 6 68 3 6 8 , 2 63 518,629 356,403 308,193 1057,857 253,212 148,599 261,073 237,776 6 6 1 , 6 25 Notes 13,029,021 718,915 3,328,029 792,921 1116,679 767,383 6 6 3 , 5 82 2277,707 545,199 319,953 562,124 5 1 1 , 9 62 1424,567 •DUUUti jjOTIJ1/U CUUJ71I yjSJj UvQ cLc.1. \ J-\->2 > *+*+f V^U 9 V 3UH* uy,*tjLU J 7 U, i iu Total 24,632,337 1359,163 6,291,887 1499,075 2111,164 1450,795 1254,550 4306,176 1030,740 604,896 1 0 6 2 , 7 38 9 6 7 , 9 03 2 6 9 3 , 2 50 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 6 0 4 , 8 96 1 0 6 2 , 7 38 9 6 7 , 9 03 2 6 9 3 , 2 50 Total loans and securities 24,773,286 1370,567 6,305,517 1 5 0 6 , 1 83 2 1 2 1 , 8 65 1460,078 1273,084 4338,513 1044,464 610,754 1074,4l6 972,279 2 6 9 5 , 5 66 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 F.R. notes of pther banks 145,043 3,305 21,984 8,478 6,797 20,950 2 6 , 2 96 14,509 8,564 5,531 5,185 5,792 1 7 , 6 52 Uncollected cash items 3,531,277 2 7 8 , 5 66 680,551 251,401 308,699 271,761 257,665 553,285 150,312 94,520 187,729 147,702 3 4 9 , 0 86 Bank premises 53,374 6,097 7,556 4,970 5,136 4,640 3,978 6,405 2 , 8 75 1,014 2,453 575 7 , 6 75 Other assets 1 8 7 , 2 52 9,998 46,510 11,260 16,494 11,038 1 0 , 1 61 32,n6 8 , 0 80 4,506 8,525 8,234 2 0 , 3 30 TOTAL ASSETS 2613,777 5 0 , 3 5 4 , 3 22 2 7 7 9 , 1 71 1 2 , 9 4 5 , 2 89 3 1 2 4 , 1 48 4 2 4 7 , 5 50 2 8 4 4 , 7 92 8 7 3 8 , 5 47 2 0 6 8 , 4 60 1 2 6 8 , 8 84 2 2 6 7 , 1 48 1 9 4 2 , 5 51 5 5 1 4 , 0 05 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 MAY 5, 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 Mple. Kane.Cy. Federal Reserve notes 25,481,606 1575,078 5,690,342 1815,737 2355,958 1726,247 1 3 6 8 , 9 29 4913,173 1148,804 629,552 991,961 '7 19,522 2546,303 Deposits: Member bank-reserve accts. 19,206,591 812,512 5,832,554 931,325 1428,843 775,014 9 0 8 , 2 80 3 0 6 4 , 2 36 6 8 9 , 8 89 1 440,442 9 9 2 , 9 60 : 934,299 2396,237 U.S.Treasurer-general acct. 617,075 133,983 36,539 16,925 31,851 . 71,980 60,284 74,646 61,313 4 2 , 7 24 2 2 , 0 87 3 6 , 8 82 2 7 , 8 61 Foreign 6 0 0 , 8 95 33,550 1/210,376 40,700 50,600 28,050 2 3 , 6 50 7 6 , 4 50 2 0 , 9 00 ' 13,750 20,900 2 5 , 8 50 56,119 Other 328.482 8 07 4 , 8 30 l 1,591 3,630 673 Total deposits 20,753,043 8 9 2 , 8 81 6,433,159 9 9 6 , 1 63 1523,740 833,960 9 6 9 , 2 76 3 1 6 2 , 4 41 7 5 1 , 2 28 5 2 7 , 7 63 1077,774 1035,468 2 5 4 9 , 1 90 Deferred avail, cash items 3,030,489 244,139 267,794 510,505 124,864 82,453 154,521 137,033 308,039 5 1 6 , 2 65 2 3 2 , 0 87 2 2 6 , 8 09 2 2 5 , 9 80 Other liabilities and accrued dividends 1,047 4,920 938 64o 1 8 , 2 87 1 , 0 11 2 , 2 37 8 95 2 , 9 68 6 37 6 60 7 22 1 , 6 12 TOTAL LIABILITIES 4 9 , 2 8 3 , 4 25 2713,145 12,644,686 3 0 4 4 , 9 98 4149,729 2787,954 2 5 6 5 , 0 80 8 5 8 9 , 0 87 2 0 2 5 , 5 36 1240,405 2224,916 1 8 9 2 , 7 45 5405,144 Capital paid in 2 7 1 , 2 51 14,629 83,338 18,432 2 6 , 0 27 1 2 , 0 47 1 1 , 6 89 35,611 9 , 3 48 6 , 0 60 1 0 , 3 65 13,535 30,170 Surplus (Section 7) 6 2 5 , 0 13 38,779 176,633 4 5 . 9 09 5 7 , 6 48 31,750 28,034 90,792 2 5 , 4 65 1 6 , 2 19 23,456 2 8 , 1 46 6 2 , 1 82 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 147,090 9 , 6 07 33,313 1 0 , 3 20 13,140 9 , 6 92 8,212 2 1 , 6 28 7,590 5,127 7,274 6 , 8 18 14,369 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,354,322 2779,171 12,945,289 3124,148 4247,550 2844,792 2613,777 #738,547 2068,46o 1268,884 2267,148 1 9 4 2 , 5 51 5 5 1 4 , 0 05 Contingent liability on acceptances purchased for foreign correspondents 16,405 1 , 0 00 2/ 4 , 7 61 1,214 1,509 8 36 705 2 , 2 80 6 23 410 6 23 771 1,673 Industrial loan commitments 2 , 8 99 1,110 747 47 122 23 8 50 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,529,194 1623,493 5,901,494 1 9 2 9 , 5 67 2468,957 1821,779 1438,235 5033,223 1 1 9 6 , 8 28 6 4 2 , 4 82 1 0 3 1 , 2 92 7 5 8 , 2 96 2 6 8 3 , 5 ^8 Collateral for F.R. notes: Gold certificates 11,043,000 640,000 950,000 625,000 485,000 2400,000 283,000 1380,000 2 , 6 7 0 , 0 00 8 0 0 , 0 00 9 5 0 , 0 00 6 2 5 , 0 00 4 8 5 , 0 00 2 4 0 0 , 0 00 3 5 5 , 0 00 1 7 5 , 0 00 2 8 0 , 0 00 Eligible paper 65,950 10,916 5,355 — 1,500 8 , 9 60 8 , 8 75 1 3 , 4 20 5 , 5 50 1 1 , 3 74 U. S. Govt, securities 16,945,000 1200,000 1550,000 1300,000 1000,000 2700,000 950.000 500,000 800,000 525,000 1620,000 3 , 6 0 0 , 0 00 1 2 0 0 , 0 00 Total collateral 28,053,950 1850,916 6,278,960 2005,355 2500,000 1933,875 1485,000 5100,000 1318,420 680,550 1091,374 606,000 3001,500 l/ After deducting $390,500,000 participations of other Federal Reserve Banks. 2/ After deducting $11,644,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis