H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS Of #E FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) May 13, I95I+ CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ende dMay 12, Member bank reserves increased $274 million. The principal changes supplying reserves were an increase of $210 million in Reserv eBank credit and decreases of $75 million in Treasury deposits with Federa lReserve Banks and $22 million in Foreig ndeposits with Federal Reserve Banks. The principal offsetting chang ewas an increase of $29 million in Other deposit swith Federal Reserve Banks. The increase of $210 million in Reserv eBank credit resulted from increases of $128 million in Loans ,discounts an dadvances and $8l million in Float. Change since Member Bank Reserves May 12, May 5, May 13, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,632 •»- + 781 Held under repurchase agreement -- «• — - 28 Loans, discounts an dadvances 269 +128 - 998 Float 582 + 81 - 102 Total 25,484 +210 - 347 Gold stock 21,970 + 1 - 591 Treasury currency outstanding 4,952 + 1 + 111 Money in circulation 29,759 + 3 - 86 Treasury cash holdings 84o + 3 - 445 Treasury deposits with F. R. Banks 542 - 75 + 114 Foreign deposits with F. R. Banks 579 - 22 - 39 Other deposits with F. R. Banks 357 + 29 9 Other F. R. account s(net) 848 - 1 + 68 Member bank reserves 19,481 +274 - 431 Required reserves (estimated) 18,736 -112 - 546 Excess reserves (estimated) 745 +386 + 115 Daily averages for period— Estimated excess reserves of member banks 685 - 24 + 54 Member bank borrowings at F.R. Banks 174 + 24 -1,139 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,934 million, an increase of $88 millio nfor the week and an increase of $527 millio nfrom 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 May 12, May 5, May 13, 1954 1954 1953 A S S E TS Gold certificates 20,417,100 + 4,998 221,003 - Redemption fund for F. R. notes 866,239 - 4,648 + 121,494 Total gold certificat ereserves 21,283,339 + 350 99,509 - Other cash 367,277 - 13,802 + 40,932 Discounts and advances 268,029 + 128,349 - 995,766 Industrial loans 11,,224499 20 22,,44ll44 - - U. S. Government securities: Bought outright-- Bills 1,910,975 +1, 351,221 - - Certificates 6,051,191 +1,055,475 - - Notes 13,029,021 744,650 — m - Bonds 3,641,150 880,825 — - - Total bought outright 24,632,337 — *» + 781,221 Held under repurchase agreement 28,400 — «• •» — - Total U. S. Government securities 24,632,337 + 752,821 — — Total loans and securities 24,901,615 + 128,329 245,359 Due from foreign banks 22 1 mm — mm F. R. note sof other banks 139,679 5,364 5,059 - Uncollected cash items 3,867,459 + 336,182 - 136,849 Bank premises 53,476 + 102 + 3,936 Other assets 195,112 + 7,860 - 25,883 TOTAL ASSETS 50,007,979 + 453,657 467,792 - L I A B I L I T I ES Federal Reserve notes 25,467,06? - 14,539 - 114,158 Deposits: Member bank--reserve accounts 19,481,196 + 274,605 - 431,289 U, S. Treasurer--general account 542,030 - 75,045 + 113,869 Foreign 579,025 - 21,870 - 38,658 Other 357,148 + 28,666 - 8,714 Total deposits 20,959,399 + 206,356 - 364,792 Deferred availability cash items 3,285,009 + 254,520 - 34,851 Other liabilities and accrued dividends + 768 TOTAL LIABILITIES 49,730,530 + 447,105 - 514,808 C A P I T AL A C C O U N TS Capital paid in 271,329 + 78 + 13,750 Surplus (Section 7) 625,013 + 40,337 • - Surplus (Section 13b) 27,543 — — *» Other capital accounts 153,564 + 6,474 7,071 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.8% .2$ .2$ Contingent liability on acceptances purchased for foreign correspondents 13,302 3,103 19,603 Industrial loan commitments 2,4l3 486 247 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES, MAY 12, 1954 (Securities held under repurchase agreement ar eclassified as maturing within 15 days in accordanc ewith maximu mmaturity of th eagreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days 234,270 5 495,100 l6 to 90 days 18,759 194 3,102,241 91 days to 1 year 15,000 1,007 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 FRTAoStERa l 268,029 1,249 24,632,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENTOF CONDITIONOF TOE FEDERA LRESERVE-BANKS ON MA Y12, 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 20,417,100 977,266 5,657,339 1230,851 1720,636 1017,549 933,269 3674,734 765,287 491,257 876,782 727,151 2344,979 Redemption fund for F. R. notes Total gold certificate reserves 21,283,339 1029,904 5,832,709 1289,691 1800,100 1085,070 990,037 3823,281 813,826 516,425 917,554 756,905 2427,837 Other cash 367,277 23,941 69,101 21,943 30,076 19,510 34,166 66,327 23,834 9,809 9,789 16,789 41,992 Discounts and advances 268,029 13,219 78,820 7,027 9,441 4,768 6,298 108,247 13,899 4,075 2,839 1,650 17,746 Industrial loans 1,249 l,l4l 108 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 6,051,191 333,893 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 1424,56? Bonds 3,641,150 200,911 930,066 221,593 312,072 214,457 185,447 636,539 152,364 89,416 157,094 143,075 398,116 Total Held under repurchase agreement Total U. S. Government securities 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 Total loans and securities 24,901,615 1372,382 6,370,707 1507,243 2120,605 1455,563 1260,848 4414,423 1044,639 609,079 1065,577 969,553 2710,996 bue from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 E.R. notes of other banks 139,679 3,342 23,113 7,673 6,653 15,803 20,560 15,489 7,569 4,666 7,602 8,766 18,443 Uncollected cash items 3,867,459 300,512 700,654 264,325 347,937 308,978 295,554 617,659 173,456 104,226 187,445 184,859 381,854 Bank premises 53,476 6,097 7,564 4,977 5,136 4,640 3,978 6,4o6 2,875 1,014 2,457 575 7,757 Other assets 195,112 10,546 48,468 11,764 16,783 11,595 10,601 33,487 8,429 4,725 8,842 8,589 21,283 TOTAL ASSETS 50,807,979 2746,725 13,052,322 3107,618 4327,292 2901,160 2615,745 8977,075 2074,629 1249,945 2199,267 1946,037 5610,164 l/ After deducting $16,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BANKS ON MA Y12, 1954 E.4.1(c) (In thousands of dollars) L I A B I L I T I ES Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,467,067 1574,444 5,679,186 1815,265 2362,325 1722,667 1364,036 4916,105 1148,061 629,490 990,822 715,549 2549,117 Deposits: Member bank-reserve accts. 19,481,196 769,855 5,930,856 905,053 1453,482 791,799 883,071 3244,951 683,547 446,643 941,933 959,737 2470,269 U.S.Treasurer-general acct. 542,030 24,421 124,141 34,599 43,419 39,204 35,981 61,236 26,937 33,871 39,333 33,637 45,251 Foreign 579,025 35,014 1/171,466 42,476 52,808 29,274 24,682 79,786 21,812 14,350 21,812 26,978 58,567 Other 357,148 4.935 274,164 1,515 10,535 2.317 750 2,695 8,696 1,271 5,354 638 44,278 Total deposits 20,959,399 834,225 6,500,627 983,643 1560,244 862,594 944,484 3388,668 740,992 496,135 1008,432 1020,990 2618,365 Deferred avail, cash items 3,285,009 270,554 564,440 228,159 304,608 257,699 257,399 518,625 141,693 95,100 156,764 158,641 331,327 Other liabilities and accrued dividends 19,055 1,069 5,758 1,022 1,778 1,022 844 3,048 690 599 679 819 1,727 TOTAL LIABILITIES 49,730,530 2680,292 12,750,011 3028,089 4228,955 2843,982 2566,763 8826,446 2031,436 1221,324 2156,697 1895,9995 500,536 Capital paid in 271,329 14,629 83,368 18,434 26,036 12,047 11,689 35,613 9,378 6,060 10,366 13,539 30,170 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 153,564 101,00,10414 34,991 10,697 13,647 10,032 8,497 22,795 7,829 5,269 7,611 7.046 15,136 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,807,979 2746,725 13,052,322 3107,618 4327,292 2901,160 2615,745 8977,075 2074,629 1249,945 2199,267 1946,037 5610,164 Contingent liability on acceptances purchased for foreign correspondents 13,302 811 2/3,859 984 1,224 678 572 1,849 505 333 505 625 1,357 Industrial loan commitments 2,413 626 747 45 122 23 850 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. note soutstanding 26,565,626 1628,761 5,893,519 1929,801 2464,645 1823,311 1455,255 5027,674 1192,111 643,681 1025,979 753,548 2727,341 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 125,286 11,816 70,660 5,325 3,595 — —- 13,025 3,500 1,965 15,400 U. S. Govt, securities 16,945,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2700,000 950,000 500,000 800,000 525,000 Total collateral 28,113,286 1851,816 6,340,660 2005^325 2500^000 1928^595 1485,000 5100/000 1318,'O25 678,500 1081^965 806^000 3015^400 l/ After deducting $407,540,000 participations of other Federa lReserve Banks. 2/ After deducting $9,443,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis