H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 1, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended June 30, Member bank reserves decreased $8l4 million. The principal changes reducing reserves were a decrease of $951 million in Reserve Bank credit and increases of $169 million in Money in circulation, $38 million in Other deposits with Federal Reserve Banks, and $17 million in Treasury cash holdings. The principal offsetting changes were decreases of $345 million in Treasury deposits with Federal Reserve Banks and $11 million in Other F. R. account s(net). The decrease of $951 million in Reserve Bank credit resulted from decreases of $572 million in Loans, discounts and advances, $184 million in Float, $102 million in U. S. Government securities bought outright, and $92 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected a decrease of $102 million in bills. The decrease of $375 million in estimated required reserves of member banks reflected the lower reserve requirements which became effective at the beginning of the week and which lessened required reserves approximately $460 million. Change since Member Bank Reserves June 30, June 23, July 1, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,037 -102 +271 Held under repurchase agreement - 92 -- Loans, discounts and advances 38 -572 -210 Float 567 -184 -170 Total 25,642 -951 -110 Gold stock 21,927 + 1 -536 Treasury currency outstanding 4,959 + 4 +105 Money in circulation 29,90^ +I69 -248 Treasury cash holdings 829-W + 17 -440 Treasury deposits with F. R. Banks 875 -345 +699 Foreign deposits with F. R. Banks 545 + 1 + 24 Other deposits with F. R. Banks 377 + 38 +203 Other F. R. accounts (net) 988 - 11 + 39 Member bank reserves 19,011 -8l4 -817 Required reserves (estimated) 18,409 -375 -704 Excess reserves (estimated) 602 -439 -113 Daily averages for period-- Estimated excess reserves of member banks 839 - <54. +293 Member bank borrowings at F. R. Banks X38 . 40 -293 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,900 million, a decrease of $51 million for the week and an increase of $446 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 RESEBVE BANKS COMBINED (in thousands of dollars) Change since June 30, June 23, July 1; 1954 1954 1953 A S S E TS Gold certificates 20,377,101 1 120,002 Redemption fund for F. R. notes 86l,4o6 - - + 71,228 Total gold certificate reserves 21,238,507 1 - 48,774 Other cash 358,345 7,791 + 45,499 Discounts and advances 36,745 - 572,413 208,429 - Industrial loans 1,232 13 1,867 U. S. Government securities: Bought outright— Bills 2,316,075 - 102,000 + 841,271 Certificates 6,599,791 +]. ,604,075 Notes 13,029,021 744,650 - - - Bonds 3,092,550 -1,429,425 Total bought outright 25,037,437 - 102,000 + 271,271 Held under repurchase agreement 92,000 -- -- Total U. S. Government securities 25,037,437 - 194,000 + 271,271 Total loans and securities 25,075,414 - 766,426 + 60,975 Due from foreign banks 22 -- - 1 F. R. notes of other banks 144,318 2,572 - 8,297 Uncollected cash items 3,796,835 - 740,475 - 246,471 Bank premises 53,551 114 + 3,746 Other assets 92,139 + 6,713 - 7,643 TOTAL ASSETS 50,759,131 -1,510,666 - 200,966 L I A B I L I T I ES Federal Reserve notes 25,588,132 + 170,400 - 268,526 Deposits: Member bank-reserve accounts 19,011,322 - 813,359 - 816,300 U. S. Treasurer--general account 874,868 - 345,409 + 698,627 Foreign 545,071 + 1,012 + 24,169 Other 376,531 + 37,326 + 202,230 Total deposits 20,807,792 -1,120,430 + 108,726 Deferred availability cash items 3,229,831 - 556,266 - 76,189 Other liabilities and accrued dividends 12,639-0 - 10,347 3,065 TOTAL LIABILITIES 49,638,3% -1,516,643 - 239,054 q>b C A P I T AL A C C O U N TS Capital paid in 272,316 + 168 + 12,665 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 , Other capital accounts 195,865-1^+ 5,809 - 14,914 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,759,131 -1,510,666 - 200,966 Ratio gold certificate reserves to deposit and F. R. note liabilities combined 45.8% Contingent liability on acceptances purchased for foreign correspondents 13,509 1,735 16,115 Industrial loan commitments 2,396 1 1,057 MATURITY DISTRIBUTION OF LOANS AND SECURITIES JUNE 30, 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 16,128 4 463,450 16 to 90 days 20,617 123 2,843,850 91 days to 1 year 1,063 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 1,414,857 Total 36,745 1,232 25,037,437 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 30, 1954 H.k.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 20,377,101 1056,476 5,521,931 1272,267 1757,430 1037,271 905,565 3659,647 782,388 481,246 819,708 762,997 2320,175 Redemption fund for F. R. notes 861.406 51.891 172.655 57.401 78.521 71.624 56.147 147.486 48.241 25.050 . ,40.551 29.550 82.289 Total gold certificate reserves 21,238,507 1108,367 5,694,586 1329,668 1835,951 1108,895 961,712 3807,133 830,629 506,296 860,259 792,547 2402,464 Other cash 358,345 23,000 67,808 22,687 38,633 18,193 32,561 61,906 21,188 8,678 11,227 13,864 38,600 Discounts and advances 36,745 3,158 7,910 3,235 2,940 3,374 1,364 3,925 670 4,125 3,360 1,154 1,530 Industrial loans 1,232 — —— 1,129 —— —— — — 103 U. S. Govt, securities: Bought outright— Bills 2,316,075 127,797 591,600 140,951 198,504 136,412 117,960 404,892 96,916 56,876 99,924 91,008 253,235 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 25,037,437 1381,516 6,395,363 1523,728 2145,884 1474,655 1275,182 4376,995 1047,691 614,844 1080,215 983,821 2737,543 Held under repurchase agreement Total U. S. Government securities 2255..003377..443377 11338811..551166 66..339955,,336633 11552233,,772288 22114455,.888844 11447744,,665555 11227755,,118822 44337766,,999955 11004477,,669911 661144,,884444 11008800,,221155 998833,,882211 22773377,,554433 Total loans and securities 25,075,414 1384,674 6,403,273 1528,092 2148,824 1478,029 1276,546 4380,920 1048,361 619,072 1083,575 984,975 2739,073 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 1 11 2 F.R. notes of other banks 144,318 3,269 24,552 8,477 7,552 14,830 23,261 16,181 8,728 7,858 6,071 6,676 16,863 ( Uncollected cash items 3,796,835^ 305,757 735,266 234,886 365,730 297,965 270,383. 600,634 152,562 99,707 183,057 189,419 361,469 Bank premises 53,551 6,030 7,590 5,104 5,108 4,607 3,951 6,366 2,865 1,010 2,466 568 7,886 Other assets 92.139 5.071 22.209 5.330 8.115 5.284 5.266 15.461 4.099 2.232 4.300 4.626 10.146 TOTAL ASSETS 50,759,131 2836,169 12,955,290 3134,246 4409,915 2927,804 2573,681 8888,604 2068,433 1244,854 2150,956 1992,676 5576,503 1/ 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 30, 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 25,588,132 1593,787 5,722,574 1820,368 2365,404 1727,730 1369,453 4927,997 1139,547 621,811 996,580 724,729 2578,152 Deposits: Member bank-reserve accts. 19,011,322 782,477 5,678,395 885,479 1467,824 770,291 846,069 3122,773 694,505 455,816 920,986 973,641 2413,066 U.S.Treasurer-general acct. 874,868 79,432 186,542 97,012 96,263 84,000 42,937 95,371 36,646 30,229 13,940 51,565 60,931 Foreign 31,988 1/172,728 38,806 48,245 26,744 22,549 72,892 19,927 13,110 19,927 24,647 53,508 Other Total deposits 20,807,792 899,016 6,322,385 1033,009 1622,843 883,017 912,702 3295,720 761,323 501,567 960,741 1050,438 2565,031 Deferred avail, cash items 3,229,831 273,930 592,755 198,125 318,235 256,899 239,812 503,867 122,287 91,509 148,922 165,462 318,028 Other liabilities and ^ 0 accrued dividends 12,639 829 3,635 627 1,480 535 66# 2,137 480 391 459 399 998 XI TOTAL LIABILITIES 49,638,3^ 2767,562 12,641,349 3052,129 4307,962 2868,181 2522,636 8729,721 2023,637 1215,278 2106,702 1941,028 5462,209 Capital paid in 272,316 14,697 83,447 18,471 26,073 12,104 11,778 36,017 9,419 6,073 10,470 13,587 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 195,865^ 12,120 46,542 13,248 17,226 12,420 10,4T±^° 30,645 9,391 6,211 9,191 8,608 19,792 TOTAL LIABILITIES ADD CAPITAL ACCOUNTS 50,759,131 2836,169 12,955,290 3134,246 4409,915 2927,804 2573,681 8888,604 2068,433 1244,854 2150,956 1992,676 5576,503 Contingent liability on acceptances purchased for foreign correspondents 13#509 824 2/3,924 999 1,242 689 580 1,877 513 337 513 634 1,377 Industrial loan commitments 2,396 630 747 45 117 22 835 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,543,175 1633,523 5,910,270 1918,038 2471,227 1821,856 1437,313 5015,634 1185,181 637,481 1024,894 759,515 2728,243 Collateral for F.R. notes: Gold certificates 11,043,000 640,000 2,670,000 800,000 950,000 62652,50,00000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 13,617 2,243 2,125 2,609 100 3,750 2,790 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 28,001,617 1842,243 6,270,000 2002,125 2500,000 1927,609 1485,000 5100,000 1305,100 678,750 1082,790 808,000 3000,000 l/ After deducting $372,324,000 participations of other Federal Reserve Banks. 2/ After deducting $9,585,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis