H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM (For Immediate Release) May 20, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended May 19, Member ban kreserves increased $205 million. The principal changes supplying reserves were decreases of $124 million in Treasury deposits with Federal Reserve Banks, $52 million in Money in circulation, and $46 million in Foreign deposits with Federal Reserve Banks, and an increase of' $44 million in Reserve Bank credit. The principal offsetting changes were increases of $33 millio nin Other deposit swith Federal Reserve Banks and $32 million in Other F. R. account s(net). The increase of $44 million in Reserve Bank credit resulted from increases of $80 millio nin Float and $55 million in U. S. Government securities bought outright, and a decrease of $90 millio nin Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected increases of $549 million in certificates and $55 million in bills, and a decrease of $549 million in bonds. Change since Member Bank Reserves May 19, May 12, May 20, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 24,68? + 55 +796 Held under repurchase agreement -- - 31 Loans, discounts and advances 179 - 90 -354 Float 662 + 80 -170 Total 25,528 + 44 +240 Gold stock 21,971 + 1 -591 Treasury currency outstanding 4,956 + 4 +112 Money in circulation 29,707 - 52 - 88 Treasury cash holdings 841 + 1 -441 Treasury deposits with F. R. Banks 418 -124 +273 Foreign deposits with F. R. Banks 533 - 46 - 51 Other deposits with F. R. Banks 390 + 33 +104 Other F. R. account s(net) 880 + 32 +103 Member bank reserves 19,686 +205 -138 Required reserves (estimated) 18,940 +204 -372 Excess reserves (estimated) 746 + 1 +234 Daily averages for period— Estimated excess reserves of member banks 702 + 17 + 83 Member bank borrowings at F. R. Banks 120 - 54 -725 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,963 million, an increase of $29 million for the week and an increase of $599 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 May 19, May 12, May 20, 1954 1954 1953 A S S E TS Gold certificates 20,417,099 1 218,503 - - Redemption fund for F. R. notes 863,856 2,383 + 115,660 - Total gold certificate reserves 21,280,955 2,384 102,843 - - Other cash 369,750 + 2,473 + 37,807 Discounts and advances 177,396 90,633 352,419 - - Industrial loans 1,356 + 107 2,271 - U. S. Government securities: Bought outright— Bills 1,965,975 + 55,000 +1. ,366,221 Certificates 6,599,791 + 548,600 +1,604,075 Notes 13,029,021 — - 744,650 Bonds 3,092,550 548,600 -1,429,42$ - Total bought outright 24,687,337 + 55,000 + 796,221 Held under repurchase agreement 30,800 — — — — - Total U. S. Government securities 24,667,337 + 55,000 + 765,421 Total loans and securities 24,866,089 - 35,526 + 410,731 Due from foreign hanks 22 1 — - — F. R. notes of other banks 140,579 + 900 - 7,624 Uncollected cash items 4,057,045 + 189,586 61,858 - Bank premises 53,473 - 3 4* 3,546 Other assets 170,224 24,888 60,150 - * TOTAL ASSETS 50,938,137 130,156 + 219,608 L I A B I L I T I ES Federal Reserve notes 25,411,886 55,181 122,907 - - Deposits: Member bank—reserve accounts 19,686,145 + 204,949 138,069 - U. S. Treasurer--general account 4l8,166 123,864 + 273,463 - Foreign 532,966 46,059 51,201 - - Other 390,165 + 33,017 + 103,791 Total deposits 21,027,442 + 68,043 + 187,984 Deferred availability cash items 3,394,758 + 109,749 + 108,280 Other liabilities and accrued dividends 20,300 + 1,245 + 123 TOTAL LIABILITIES 49,854,386 123,856 + 173,480 C A P I T AL A C C O U N TS Capital paid in 271,499 + 170 + 13,821 Surplus (Section 7) 625,013 + 40,337 - - Surplus (Section 13b) 27,543 -- Other capital accounts 159,696 + 6,132 8,030 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,938,137 + 130,158 + 219,608 Ratio of gold certificate reserves to deposit and F. R. not eliabilities combined 45.8$ — — * ..33%% Contingent liability on acceptances purchased for foreign correspondents 13,672 + 370 - 19,031 Industrial loan commitments 2,305 - 108 - 405 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 19, 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 143,655 579,300 16 to 90 days 33,741 274 1,537,075 91 days to 1 year 1,035 13,813,541 Over 1 year to 5 years 43 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years 1.414.857 Digitized for FRATSoEtRa l 177,396 1,356 24,687,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 19, 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 20,417,099 1006,991 5,755,966 1242,209 1698,919 977,808 916,955 3631,641 776,161 495,813 878,854 759,193 2276,589 Gold certificates Redemption fund for 863,856 52,519 174,919 58,626 79,317 66,569 56,663 148,383 48,493 25,145 40,733 29,723 §2,766 F. R. notes Total gold certificate 21,280,955 1059,510 5,930,885 1300,835 1778,236 1044,377 973,618 3780,024 824,654 520,958 919,587 788,916 2359,355 reserves Other cash 369,750 24,456 71,694 21,773 32,881 20,226 33,876 63,587 23,965 9,442 10,189 16,328 41,333 4,225 6,889 12,150 2,346 Discounts and advances 177,396 12,991 23,470 6,492 10,186 27,493 12,398 39,587 19,169 Industrial loans 1,356 1,249 107 U. S. Govt, securities: Bought outright-- II i § :li II1111IIIIII11IIII11 Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Government 24,687,337 1362,198 6,305,936 1502,422 2115,877 1454,035 1257,351 4315,791 1033,042 606,247 1065,110 970,064 2699,264 securities Total loans and 24,866,089 1375,189 6,329,406 1510,163 2126,063 1481,528 1269,749 4355,378 1052,211 610,579 1071,999 982,214 2701,610 securities Due from foreign banks 22 1 1/ 6 2 2 1 l 3 1 l 1 2 F.R. notes of other banks 140,579 3,871 24,812 8,968 7,290 13,124 19,849 17,073 8,821 4,336 7,243 6,983 18,209 Uncollected cash items 4,057,045 317,775 765,599 243,639 381,366 323,040 275,580 669,712 174,138 105,428 194,216 199,364 407,188 B O a t n he k r pr a e s m s i e s t e s s 1 5 7 3 0 , , 4 2 7 2 3 4 6 9 , , 0 1 9 8 7 6 4 7 2 , , 5 0 7 4 0 0 1 4 0 , , 9 2 7 3 7 0 1 5 4 , , 1 7 2 68 6 1 4 0 , ,0 6 0 4 5 0 9 3 , , 3 5 0 t 9 @ 2 6 9 , , 4 1 o 7 6 8 7 2 , ,8 3 7 3 5 7 4 1 , ,0 1 1 4 4 8 7 2 , , 6 4 3 5 2 8 7,7 57 6 5 6 1 7 8 , ,6 7 2 5 5 7 50,938,137 2796,085 13,172,012 3100,587 4345,732 2896,941 2585,960 8921,361 2094,002 1255,906 2213,325 2002,147 5554,079 TOTAL ASSETS 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 FEDERAL RESERVE BANKS ON MAY 19, 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 25,411,886 1570,563 5,676,049 1813,870 2357,617 1713,136 1355,648 4918,623 1144,035 627,954 985,718 712,908 2535,765 Deposits: Member bank-reserve accts, 19,686,145 798,541 6,075,506 923,506 1477,157 802,184 886,219 3188,614 704,322 456,010 944,523 1011,597 2417,966 U.S.Treasurer-general acct 4l8,l66 30,111 39,603 34,137 39,397 27,909 25,529 26,147 34,385 31,244 42,821 34,319 52,564 Foreign 532,966 31,738 1/163,535 38,502 47,868 26,535 22,373 72,322 19,771 13,008 19,771 24,454 53,089 Other 390,165 3,075 321,789 2,021 6,888 2,249 887 3,869 9,225 1,005 5,586 384 33,187 Total deposits 21,027,442 863,465 6,600,433 998,166 1571,310 858,877 935,008 3290,952 767,703 501,267 1012,701 1070,754 2556,806 Deferred avail, cash items 3,394,758 294,238 585,111 207,661 315,992 266,436 245,071 557,005 138,219 96,967 171,378 167,289 349,391 Other liabilities and accrued dividends 20,300 1,075 6,430 984 1,971 945 943 2,964 631 957 671 917 1,812 TOTAL LIABILITIES 49,854,386 2729,341 12,868,023 3020,681 4246,890 2839,394 2536,670 8769,544 2050,588 1227,145 2170,468 1951,868 5443,774 Capital paid in 271,499 14,630 83,370 18,434 26,042 12,068 11,700 35,638 9,378 6,062 10,448 13,551 30,178 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 159,696 10,324 36,667 11,074 14,146 10,380 8,794 23,958 8,050 5,407 7,816 7,275 15.805 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,938,137 2796,085 13,172,012 3100,587 4345,732 2896,941 2585,960 8921,361 2094,002 1255,906 2213,325 2002,147 5554,079 Contingent liability on acceptances purchased for foreign correspondents 13,672 836 2/3,945 1,014 1,260 699 589 1,904 521 342 521 644 1,397 Industrial loan commitments 2,305 518 747 45 122 23 850 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,520,220 1640,724 5,872,810 1932,818 2462,876 1822,440 1450,408 5023,933 1186,207 642,096 1020,022 750,117 2715,769 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 85,208 11,588 14,550 4,790 -— 26,320 --- 18,295 3,650 6,015 -— 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 1620,000 Total collateral 28,073,208 1851,588 6,284,550 2004,790 2500,000 1951,320 1485,000 5100,000 1323,295 678,650 1086,015 808,000 3000,000 l/ After deducting $369,413,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ After deducting $9,727,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis