H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) June 24, 1954 Revised CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended June 23, Member bank reserves decreased $89 million. The principal changes reducing reserves were increases of $7bl million in Treasury deposits with Federal Reserve Banks and $140 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $749 million in Reserve Bank credit and a decrease of $68 million in Money in circulation. The increase of $749 million in Reserve Bank credit resulted from increases of $473 million in Loans. discounts and advances, $229 million in U. S. Government securities bought outright, and $92 million in U. S. Government securities held under repurchase agreement, and a decrease of $46 million in Float, Holdings of U. S. Government securities bought outright reflected an increase of $229 million in bills. Estimated required reserves reflect the lower reserve requirements on time deposits of country banks, announced during the week, which were made effective as of June 16 and which reduced required reserves approximately $182 million. Member Bank Reserves June 23, June 16, June 24 and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,139 +229 + 302 Held under repurchase agreement 92 + 92 + 92 Loans, discounts and advances 610 +473 + 290 Float 751 - 46 + 132 Total 26,593 +749 + 817 Gold stock 21,926 + 1 - 561 Treasury currency outstanding 4,955 - 1 + io4 Money in circulation 29,735 - 68 - 194 Treasury cash holdings 812 + 2 - 460 Treasury deposits with F. R. Banks 1,220 +761 +1,212 Foreign deposits with F. R. Banks 544 + 1 - 71 Other deposits with F. R. Banks 339 +140 + 181 Other F. R. accounts (net) 999 + 2 + 39 Member bank reserves 19,825 - 89 - 348 Required reserves (estimated) 18,784 -141 * - 810 Excess reserves (estimated) 1,041 + 52 * + 462 Daily averages for period-- Estimated excess reserves of member banks 903 81 * - 251 Member bank borrowings at F. R. Banks 178 61 - 103 * Last week's figures revised to $18,925 million, $989 million, and $984 million, respectively, to reflect the $182 million reduction in reserve requirements on time deposits of country banks effective as of June l6. U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,951 million, a decrease of $5 million for the week and an increase of $474 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 23# June 16, June 2k, 1954 1953 A S S E TS Gold certificates 20,377,102 145,001 Redemption fund for F. R. notes 861.L06 — , 2,758 + 70.777 Total gold certificate reserves 21,238,508 - 2,758 - 74,224 Other cash 366,136 + 2,085 4- 40,142 Discounts and advances 609,158 + 473,632 + 292,604 Industrial loans 1,245 — 56 1,784 U. S. Government securities: Bought outright-- Bills 2,418,075 + 228,900 +1, Certificates: Special Other Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes Deposits: Member bank—reserve accounts U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments H to <r\ Si 296,000 mm 6,599,791 +1,604,075 13,029,021 - 744,650 3.092.550 —— -1-L.29.a25 25,139,437 + 228,900 4- 302,321 92.000 + 92.000 + 93,ooo 25.231.437 4- 320.900 4* 394,321 "25,841,840 4- 794,476 + 685,141 22 — — 1 146,890 - 477 - 4,289 4,537,310 - 378,911 4* 156,443 53,665 + 52 + 3,746 85.426 + 7,147 — 4.286 52,269,797 + 421,614 4- 802,672 25,417,732 - 67,479 • 234,490 19,824,681 — 89,124 347,861 1,220,277 4- 760,972 +1 ,211,968 544,059 + 1,124 70,727 339.205 + '140.640 4* 181,680 21,928,222 + 813,612 4* 975,060 3,786,097 - 333,418 4- 24,203 22.986 + 2,999 - 1.423 51,155,037 + 415,714 4- 763,350 272,148 + 119 4- 12,731 625,013 — 4- 40,337 27,543 — . 190.056 + 5,781 •*. 13.746 52,269,797 + 421,614 4- 802,672 44.9% — .1% - .8$ 15,244 — 1,133 — 13,144 2,397 4- 52 988 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 23, 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 584,235 230 557,950 16 to 90 days 24,764 14 2,943,350 91 days to 1 year 159 959 12,972,716 Over 1 year to 5 years 42 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years """m 1,414,857 Digitized for FRATSEoRt al 609,158 1,245 25,231,437 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 23, 195% 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 20,377,102 1039,983 5,493,546 1273,683 1821,608 1073,372 901,834 3627,705 789,628 462,489 813,316 788,799 2291,139 Redemption fund for F. R. notes 86,1,406 5M21 172,655 57,401 78,5a 71.624 56.147 147.486 48.241 25.050 40.551 29.550 82.289 Total gold certificate reserves 21,238,508 1091,874 5,666,201 1331,084 1900,129 1144,996 957,981 3775,191 837,869 487,539 853,867 818,349 2373,428 Other cash 366,136 24,608 71,024 23,328 35,864 18,523 35,418 61,177 22,256 9,211 11,418 14,071 39,238 Discounts and advances 609,158 12,001 336,480 25,350 37,420 19,995 25,104 111,525 8,820 4,425 19,285 3,223 .5,530 Industrial loans 1,245 — — 1,141 — — 104 — — — U. S. Govt, securities: Bought outright— Bills 2,418,075 133,425 617,654 147,159 207,246 142,419 123,154 422,723 101,185 59,331 104,325 95,016 264,388 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 .708992.9.53560 170.661 188.206 265.053 182.145 157.507 540.633 129.408 75.944 133.425 121.519 338.133 Total 25,139,437 1387,144 6,421,417 1529,936 2154,626 1480,662 1280,376 4394,826 1051,960 617,349 1084,616 987,829 2748,696 Held under repurchase agreement — — — . 2 2 ^ 2 0 2 _ _ _ __ Total U. S. Government securities 25.231.437 1387.144 6.513.417 1529.936 2154.626 1480.662 1280.376 1394.826 1051.960 617.349 1084.616 987.829 2748.696 Total loans and securities 25,841,840 1399,145 6,849,897 1556,427 2192,046 1500,657 1305,480 4506,351 1060,780 621,878 1103,901 991,052 2754,226 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 F.R. notes of other "banks 146,890 2,889 24,820 9,464 8,213 13,782 19,629 17,763 8,868 6,365 8,916 7,227 18,954 Uncollected cash items 4,537,310 388,266 920,933 241,836 424,293 369,294 300,247 694,875 168,918 105,548 227,857 238,887 456,356 Bank premises 53,665 6,064 7,605 5,104 5,116 4,600 3,961 6,386 2,871 1,012 2,457 571 7,918 Other assets 85.426 4.569 20.707 4.784 7.592 5.020 5.037 14.064 3.753 2.067 4.023 4.408 9.402 TOTAL ASSETS 52,269,797 2917,416 13,561,193 3172,029 4573,255 3056,873 2627,754 9075,810 2105,316 1233,621 2212,440 2074,566 5659,524 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 23, 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. Eans.Cy. Dallas SanFran. Federal Reserve notes Deposits: 25,417,732 1573,5^0 5,678,853 1812,007 2365,014 1706,979 1355,234 4917,849 1133,700 622,687 988,789 712,967 2550,113 Member bank-reserve accts. 19,824,681 786,609 6,181,639 915,748 1501,147 807,744 907,268 3194,833 693,211 447,421 922,564 992,200 2474,297 U.S.Treasurer-general acct, 1,220,277 105,867 195,767 101,269 154,102 128,793 35,577 171,905 56,745 24,329 55,054 82,116 108,753 Foreign Other 544,059 32,873 1/161,421 39,879 49,579 27,484 23,173 74,907 20,478 13,473 20,478 25,328 54,986 339,205 4,297 265,022 9,756 8,605 1,620 1,224 3,940 7,450 _1^204_ 2,391 357 33,339 Total deposits 21,928,222 929,646 6,803,849 1066,652 1713,433 965,641 967,242 3445,585 777,884 486,427 1000,487 1100,001 2671,375 Deferred avail, cash items 3,786,097 344,614 \ 758,546 210,442 391,147 323,977 253,530 551,250 148,405 94,495 178,299 209,108 322,284 Other liabilities and accrued dividends 22,986 1,298 7,722 1,172 2,186 1,000 990 3,408 758 559 797 1,071 2,025 TOTAL LIABILITIES 51,155,037 2849,098 13,248,970 3090,273 4471,780 2997,597 2576,996 8918,092 2060,747 1204,168 2168,372 2023,147 5545,797 Capital paid in 272,148 14,689 83,432 18,477 26,070 12,097 11,778 35,904 9,402 6.072 10,464 13,583 30,180 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 190,056 11,839 44,839 12,881 16,751 12,080 10,184 29,593 9,181 6,089 9.011 8,383 19.225 TOTAL LIABILITIES AH) CAPITAL ACCOUNTS 52,269,797 2917,416 13,561,193 3172,029 4573,255 3056,873 2627,754 9075,810 2105,316 1233,621 2212,440 2074,566 5659,524 Contingent liability on acceptances purchased for foreign correspondents 15,244 927 2/4,452 1,125 1,398 775 654 2,113 578 380 578 714 1,550 Industrial loan commitments 2,397 623 747 45 117 22 843 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,516,305 1633,453 5,882,369 1920,396 2480,811 1812,671 1444,659 5014,711 1181,527 638,314 1018,963 751,681 2736,750 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 85,571 11,086 24,240 19,230 8,250 4,050 18,715 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 28,073,571 1851,086 6,270,000 2024,240 2500,000 1944,230 1485,000 5100,000 1313,250 679,050 1098,715 808,000 3000,000 1/ After deducting $382,619,000 participations of other Federal Reserve Banks. 2/ After deducting $10,792,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis