H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) May 27, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended May 26, Member bank reserves decreased $69 million. The principal changes reducing reserves were an increase of $87 million in Treasury deposits with Federal Reserve Banks and a decrease of $38 million in Reserve Bank credit. The principal offsetting changes were decreases of $31 millio nin Foreign deposits with Federal Reserve Banks and $10 million in Money in circulation. The decrease of $38 million in Reserve Bank credit resulted from a decrease of $112 million in Float and increases of $50 million in U. S. Government securities bought outright and $24 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $50 million in bills. Change since Member Bank Reserves May 26, May 19, May 27, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,737 + 50 +774 Held under repurchase agreement -125 -- -- Loans, discounts and advances 203 + 24 -371 Float 550 -112 - 95 Total 25,490 38 +182 - Gold stock 21,972 + 1 -564 Treasury currency outstanding 4,957 + 1 +112 Money in circulation 29,697 - 10 -128 Treasury cash holdings 834 7 -450 - Treasury deposits with F. R. Banks 505 + 87 +150 Foreign deposits with F. R. Banks 502 31 - 2 - Other deposits with F. R. Banks 383 - 7 +145 Other F. R. account s(net) 881 + 1 +104 Member bank reserves 19,617 69 - 89 - Required reserves (estimated) 18,937 - 3 -361 Excess reserves (estimated) 680 66 +272 - Daily averages for period- Estimated excess reserves of member banks 790 4- 88 +251 Member bank borrowings at F. R. Banks l4l + 21 -476 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,980 million, an increase of $17 millio nfor the week and an increase of $517 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 26, May 19> May 27, 1954 1954 1953 A S S E TS Gold certificate* 20,427,101 + 10,002 180,501 Redemption fund for F. R. notes 860,530 - 3,326 + 112,058 Total gold certificate reserves 21,287,631 + 6,676 - 68,443 Other cash 366,253 3,497 + 38,587 - Discounts and advances 201,800 + 24,404 - 369,087 Industrial loans 1,341 15 2,001 - U. S. Government securities: Bought outright— . Bills 2,015,975 + 50,000 +1. ,344,221 Certificates 6,599,791 — «. +1,604,075 Notes 13,029,021 744,650 — — - Bonds 3,092,550 -1,429,425 — — Total bought outright 24,737,337 + 50,000 + 774,221 Held under repurchase agreement 124,900 -- -- - Total U. S. Government securities 24,737,337 + 50,000 + 649,321 Total loans and securities 24,940,478 + 74,389 + 278,233 Due from foreign banks 22 «. — l - F. R. notes of other banks 135,892 4,687 13,103 - - Uncollected cash items 3,495,015 562,030 43,315 - - Bank premises 53,362 - 111 + 3,554 Other assets 178,232 + 8,008 - 62,389 TOTAL ASSETS 50,456,005 401,252 + 133,123 - L I A B I L I T I ES Federal Reserve notes 25,392,122 19,764 167,971 - - Deposits: Member bank--reserve accounts 19,617,046 - 69,099 - 89,364 U. S. Treasurer--general account 505,278 + 87,112 + 150,700 Foreign 501,942 31,024 2,255 - - Other 382,987 - 7,178 + 144,739 Total deposits 21,007,253 20,189 + 203,820 - Deferred availability cash items 2,945,416 - 449,342 + 52,542 Other liabilities and accrued dividends 22,024 + 1,724 - 509 TOTAL LIABILITIES 49,366,815 "» 487,571 + 87,882 C A P I T AL A C C O U N TS Capital paid in 271,553 + 54 + 13,786 Surplus (Section 7) 625,013 — + 40,337 Surplus (Section 13b) 27,543 — — - - Other capital accounts 165,961 + 6,265 1— 8,882 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,456,085 401,252 + 133,123 - Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.9# + .1% .2)6 - Contingent liability on acceptances purchased for foreign correspondents 13,711 + 39 - 17,462 Industrial loan commitments 2,315 + 10 698 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 26, 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 " 163,807 — 5— 522,500 16 to 90 days 37,993 256 1,643,875 91 days to 1 year 1,038 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 FRATSEoRt al 201,800 W 4l 24,737,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 26, 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. Eans.Cy. Dallas SanFran. Gold certificates 20,427,101 1031,861 5,628,406 1247,948 1710,226 996,255 919,341 3741,232 773,495 481,890 854,276 742,393 2299,778 Redemption fund for F. R. notes 860,530 52,331 174,307 58,275 79,102 65,329 56,519 148,125 48,421 25,117 40,685 29,677 82,642 Total gold certificate reserves 21,287,631 1084,192 5,802,713 1306,223 1789,328 1061,584 975,860 3889,357 821,916 507,007 894,961 772,070 2382,420 Other cash 366,253 24,742 68,421 22,464 30,495 20,545 35,752 63,291 24,080 10,073 9,975 16,251 4o,l64 Discounts and advances 201,800 23,695 35,770 10,227 10,716 19,938 25,898 34,122 22,024 5,525 7,639 2,950 3,296 Industrial loans l,34l —— — 1,235 — —— —— —— —— 106 —— —— — U. S, Govt, securities: Bought outright-- Bills 2,015,975 111,238 514,944 122,688 172,783 118,737 102,675 352,429 84,359 49,507 86,976 79,216 220,423 Certificates 6,599,791 364,163 1,685,798 401,650 565,648 388,715 336,133 1153,763 276,168 162,071 284,742 259,332 721,608 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 3,092,550 170,641 789,936 188,206 265,053 182,145 157,507 540,633 129,408 75,944 133,425 121,519 338,133 Total 24,737,337 1364,957 6,318,707 1505,465 2120,163 1456,980 1259,897 4324,532 1035,134 607,475 1067,267 972,029 2704,731 Held under repurchase agreement Total U. 8. Government securities 24,737,337 1364,957 6,318,707 1505,465 2120,163 1456,980 1259,897 4324,532 1035,134 607,475 1067,267 972,029 2704,731 Total loans and securities 24,940,478 1388,652 6,354,477 1516,927 2130,879 1476,918 1285,795 4358,654 1057,158 613,106 1074,906 974,979 2708,027 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 F.R. notes of other banks 135,892 3,442 23,391 7,757 7,826 12,957 20,493 17,885 6,987 4,265 7,769 6,348 16,772 Uncollected cash items 3,495,015 261,371 648,362 206,827 324,321 273,259 244,976 572,493 147,404 95,523 189,252 185,943 345,284 Bank premises 53,362 6,064 7,576 4,971 5,H9 4,619 3,965 6,400 2,875 1,014 2,458 575 7,726 Other assets 178,232 9,622 44,086 10,615 15,574 10,541 9,707 30,550 7,663 4,361 8,016 8,021 19,476 TOTAL ASSETS 50,456,885 2778,086 12,949,032 3075,786 4303,544 2860,424 2576,549 8938,633 2068,084 1235,350 2187,338 1964,188 5519,871 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 MAY 26, 1954 H.4.1(c) (In thousands of dollars) L I A B I L IT I BS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,392,122 1570,801 5,681,348 1812,546 2358,800 1707,987 1349,316 4913,482 1140,101 625,519 985,742 712,075 2534,405 Deposits: Member bank-reserve accts. 19,617,046 831,125 5,918,943 915,037 1480,985 784,047 904,232 3257,199 706,436 450,312 941,435 988,800 2438,495 U.S.Treasurer-general acct. 505,278 32,629 70,199 39,106 32,250 48,389 37,266 67,665 32,375 32,224 33,188 27,622 52,365 Foreign 501,942 30,494 1/146,994 36,993 45,991 25,495 21,495 69,486 18,996 12,498 18,996 23,495 51,009 Other 382,987 3,785 307,868 10,313 6,467 1,783 1,382 4,019 8,508 l,04l 5,464 759 31,598 Total deposits 21,007,253 898,033 6,444,004 1001,449 1565,693 859,714 964,375 3398,369 766,315 496,075 999,083 1040,676 2573,467 Deferred avail, cash items 2,945,416 241,068 510,395 180,434 277,504 233,785 212,364 470,625 117,292 84,286 158,685 159,937 299,041 Other liabilities and accrued dividends 22,024 1,121 7,609 1,075 2,168 1,042 923 3,169 708 563 715 990 1,941 TOTAL LIABILITIES 49,366,815 2711,023 12,643,356 2995,504 4204,165 2802,528 2526,978 8785,645 2024,416 1206,443 2144,225 1913,678 5408,854 Capital paid in 271,553 14,630 83,387 18,435 26,044 12,068 11,705 35,648 9,379 6,062 10,449 13,550 30,196 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,l4o Other capital accounts 165,961 10,643 38,337 11,449 14,681 10,729 9,070 25,119 8,303 5,553 8,071 7,507 16,499 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,456,885 2778,086 12,949,032 3075,786 4303,544 2860,424 2576,549 8938,633 2068,084 1235,350 2187,338 1964,188 5519,871 Contingent liability on acceptances purchased for foreign correspondents 13,711 836 2/3,984 1,014 1,260 699 589 1,904 521 342 521 644 1,397 Industrial loan commitments 2,315 530 747 45 120 23 850 FEDERAL RESERVE AGENTS» ACCOUNTS F. R. notes outstanding 26,498,934 1632,810 5,875,070 1932,458 2476,042 1818,772 1442,389 5022,422 1196,904 641,070 1014,760 755,015 2691,222 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 101,547 22,292 18,450 8,225 — 18,765 — 21,150 4,950 6,765 — 950 U. S. Govt, securities 16,945,000 1200,000 3,600,000 1200,000 1550,000 i3oa,ooo ioooooo 2700,000 950,000 500,000 800,000 525,000 1620,000 t Total collateral 28,089,547 1862,292 6,288,450 2008,225 2500,000 1943,765 1485,000 5100,000 1326,150 679,950 1086,765 808,000 3000,950 l/ After deducting $354,929,000 participations of other Federal Reserve Banks. 2/ After deducting $9,727,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis