H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) June 3, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended June 2, Member bank reserves decreased $1^3 million. The principal changes reducing reserves were increases of $237 million in Money in circulation and $18 million in Foreign deposits with Federal Reserve Banks, and a decrease of $49 million in Gold stock. The principal offsetting changes were an increase of $92 million in Reserve Bank credit and a decrease of $57 million in Treasury deposits with Federal Reserve Banks. The increase of $92 million in Reserve Bank credit resulted from increases of $75 million in U. S. Government securities bought outright and $43 million in Float, and a decrease of $27 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $75 million in bills. Change since Member Bank Reserves June 2, May 26, June 3, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,812 + 75 + 741 Held under repurchase agreement 50 - - -- - Loans, discounts and advances 176 27 335 Float - - 593 + 43 192 Total - 25,582 + 92 + 164 Gold stock 21,923 49 613 - - Treasury currency outstanding 4,958 + l + 109 Money in circulation 29,934 + 237 46 Treasury cash holdings 831 - 3 - 451 Treasury deposits with F. R. Banks 448 57 + 311 - Foreign deposits with F. R. Banks 520 + 18 - - Other deposits with F. R. Banks 379 - 4 + 126 Other F. R. accounts (net) 877 4 25 - - Member bank reserves 19,474 - 143 - 255 Required reserves (estimated) 18,865 - 72 344 Excess reserves (estimated) 609 - 71 + 89 Daily averages for period— Estimated excess reserves of member banks 640 150 29 Member bank borrowings at F. R. Banks 193 52 431 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,972 million, a decrease of $8 million for the week and an increase of $500 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 June 2, May 26, June 3, 1954 1954 1953 A S S E TS Gold certificates 20,382,103 44,998 222255,,449988 - Redemption fund for F. R. notes 858,446 2,084 + 114,143 - Total gold certificate reserves 21,240,549 47,082 111,355 - - Other cash 340,700 - 25,553 + 27,888 Discounts and advances 174,903 26,897 332,538 - — Industrial loans 1,238 103 2,285 - - U. S. Government securities: Bought outright— Bills 2,090,975 + 75,000 +1,, 331111,,222211 Certificates 6,599,791 — — +1,604,075 Notes 13,029,021 744,650 - - - Bonds 3,092,550 -1,429,425 - — Total bought outright 24,812,337 + 75,ooo + 741,221 Held under repurchase agreement 50,250 -- — - Total U. S. Government securities 24,812,337 + 75,000 + 690,971 Total loans and securities 24,988,478 + 48,000 + 356,148 Due from foreign "banks 22 1 ~ - - F. R. notes of other banks 126,335 9,557 4,933 - - Uncollected cash items 3,473,070 21,945 131,837 - - Bank premises 53,383 + 21 + 3,637 Other assets 185,409 + 7,177 + 64,143 TOTAL ASSETS 50,407,946 48,939 + 203,690 - L I A B I L I T I ES Federal Reserve notes 25,591,118 + 198,996 81,303 - Deposits: Member bank--reserve accounts 19,473,578 114433,,446688 225555,,779944 - - U. S. Treasurer—general account 448,194 - 57,084 + 310,840 Foreign 520,022 + 18,080 97 - Other 379,138 3,849 + 126,277 - Total deposits 20,820,932 186,321 + 181,226 - Deferred availability cash items 2,879,862 65,554 + 60,248 Other liabilities and accrued dividends 19,616 2,4o8 1,076 - i TOTAL LIABILITIES 49,311,528 55,287 + 159,095 - Ca p i t al a c c o u n ts Capital paid in 271,658 + 105 + 13,741 Surplus (Section 7) 625,013 + 40,337 — - Surplus (Section ljb) 27,543 ~ - -- Other capital accounts 172,204 + 6,243 9,483 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,407,946 48,939 + 203,690 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8# .1# ..33%% - - Contingent liability on acceptances purchased for foreign correspondents 14,754 + 1,043 - 1133,,778855 Industrial loan commitments 2,410 + 95 405 MATURITY DISTRIBUTION OF LOANS ANDS ECURITIES JUNE 2, 1954 within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days lM,484 j. ^59,500 l6 to 90 days 30,419 232 1,781,875 91 days to 1 year 959 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 FRTAoStEaRl 174,903 1,238 24,812,337 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RuoERVE BANKS ON JUNE 2, 1954 (In thousands of dollars) H.4.1(b) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,382,103 999,950 5,585,265 1229,999 1691,493 1000,464 952,477 3686,326 786,613 468,101 861,716 754,160 2365,539 Redemption fund for F. R. notes 858,446 52,217 173,957 58,053 78,962 64,527 56,425 147,970 48,378 25,100 40,653 29,647 82,557 Total gold certificate reserves 21,240,549 1052,167 5,759,222 1288,052 1770,455 1064,991 1008,902 3834,296 834,991 493,201 902,369 783,807 2448,096 Other cash 340,700 18,902 63,648 22,606 33,388 20,058 33,178 60,709 22,147 9,280 9,245 14,351 33,188 Discounts and advances 174,903 22,695 25,210 7,832 11,816 12,788 11,498 33,597 22,524 10,898 7,999 5,700 2,346 Industrial loans 1,238 1,132 " — — 106 ~— U. S. Govt, securities: Bought outright— Bills 2,090,975 115,376 534,102 127,252 179,211 123,154 106,495 365,540 87,497 51,349 90,213 82,163 228,623 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 i.j Vjutx Total 24,812,337 1369,095 6,337,865 1510,029 2126,591 1461,397 1263,717 4337,643 1038,272 609,317 1070,504 974,976 2712,931 Held under repurchase agreement Total U. S. Government securities 24,812,337 1369,095 6,337,865 1510,029 2126,591 1461,397 1263,717 4337,643 1038,272 609,317 1070,504 974,976 2712,931 Total loans and securities 24,988,478 1391,790 6,363,075 1518,993 2138,407 1474,185 1275,215 4371,240 1060,796 620,321 1078,503 980,676 2715,277 Due from foreign banks 22 U 6 2 2 1 1 3 l 1 1 1 2 F.R. notes of other banks 126,335 3,648 23,655 7,678 7,494 12,248 20,210 13,667 8,182 3,347 8,058 4,920 13,228 Uncollected cash items 3,473,070 277,030 683,233 241,302 321,485 260,403 218,589 554,790 149,229 97,557 177,985 183,809 307,658 Bank premises 53,383 6,064 7,574 5,031 5,111 4,619 3,965 6,387 2,871 1,012 2,452 571 7,726 Other assets 185,409 9,957 45,881 11,143 16,279 10,942 10,110 31,899 8,048 4,524 8,326 8,159 20,141 TOTAL ASSETS 50,407,946 2759,559 12,946,294 3094,807 4292,621 2847,447 2570,170 8872,991 2086,265 1229,243 2186,939 1976,294 5545,316 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 JUNE 2, 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. Kems.Cy. Dallas SanFran Federal Reserve notes 25,591,118 1579,636 5,721,355 1820,248 2362,516 1724,716 1365,847 4938,509 1148,665 628,283 1000,094 727,020 2574,229 Deposits: Member bank-reserve accts. 19,473,578 788,462 5,807,626 901,757 1481,786 787,600 912,572 3214,768 711,417 449,344 944,694 1002,255 2471,297 U.S.Treasurer-general acct. 448,194 28,721 73,165 36,266 30,934 38,890 44,359 63,456 30,604 25,323 24,308 10,317 41,851 Foreign 520,022 30,939 1/159,891 37,533 46,662 25,867 21,810 70,501 19,274 12,680 19,274 23,838 51,753 Other 379,138 2.638 297,285 9,791 9,911 2,875 '1,040 5,659 7,664 l,4o4 7,310 1,072 32,489 Total deposits 20,820,932 850,760 6,337,967 985,347 1569,293 855,232 979,781 3354,384 768,959 488,751 995,586 1037,482 2597,390 Deferred avail, cash items 2,879,862 260,752 573,687 207,461 258,581 208,312 173,670 422,837 124,048 82,638 147,284 160,284 260,306 Other liabilities and accrued dividends 19,616 1,145 5,756 1,046 2,319 885 963 3,064 691 527 JiSL 750 1,751 TOTAL LIABILITIES 49,311,528 2692,293 12,638,765 3014,102 4192,709 2789,145 2520,261 8718,794 2042,363 1200,199 2143,683 1925,536 5433,678 Capital paid in 271,658 14,630 83,401 18,473 26,048 12,095 11,709 35,649 9,379 6,064 10,449 13,565 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,l40 Other capital accounts 26,327 8,537 5,688 8,214 7,740 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,407,946 2759,559 12,946,294 3094,807 4292,621 2847,447 2570,170 8872,991 2086,265 1229,243 2186,939 1976,294 5545,316 Contingent liability on acceptances purchased for foreign correspondents 14,754 903 2/4,246 1,095 1,362 755 636 2,057 562 370 562 696 1,510 Industrial loan commitments 2,410 633 747 45 120 23 842 - -- - -- - - - - -- FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,524,968 1627,581 5,900,873 1918,536 2481,886 1824,820 1436,802 5026,170 1195,149 640,224 1022,791 755,249 2694,887 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 78,135 21,292 6,130 --- 11,615 — 21,650 10,323 7,125 — 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 28,066,135 1861,292 6,270,000 2006,130 2500,000 1936,615 1485,000 5100,000 1326,650 685,323 1087,125 808,000 3000,000 1/ After deducting $360,112,000 participations of other Federal Reserve Banks. 2/ After deducting $10,508,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis