H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) July 8, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 7, Member bank reserves increased $395 million.^ The principal changes supplying reserves were a decrease of $575 million in Treasury deposits with Federal Reserve Banks and an increase of f94 million in Reserve Bank credit. The principal offsetting changes were increases of $250 million in Money in circulation and $26 million in Foreign deposits with Federal Reserve Banks. increase of $94 million in Reserve Bank credit resulted from increases of $47 million in Loans, discounts and advances and $47 million in Float. Change since Member Bank Reserves July 7, June 30, July 8, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 25,037 " + 73 Held under repurchase agreement Loans, discounts and advances 85 + 47 -259 Float 614 + 47 - 63 Total 25,736 + 94 -248 Gold stock 21,928 + 1 -510 Treasury currency outstanding 4,959 +105 Money in circulation 30,154 +250 -125 Treasury cash holdings 826 - 3 -440 Treasury deposits with F. R. Banks 300 -575 -131 Foreign deposits with F. R. Banks 571 + 26 + 83 Other deposits with F. R. Banks 380 + 3 +204 Other F. R. accounts (net) 987 - 1 + 39 Member bank reserves 19,406 +395 -284 Required reserves (estimated) 18,406 - 3 -596 Excess reserves (estimated) 1,000 +398 +312 Daily averages for period— Estimated excess reserves of member banks 975 +136 +183 Member bank borrowings at F. R. Banks 56 - 82 -343 , . U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,933 million, an increase of $33 million for the week and an increase of $447 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 July 7, June 30, July 87 1954 1954 1953 A S S E TS Gold certificates 20,387,102 + 10,001 - 8855,,000000 Redemption fund for F. R. notes 857,565 - 3,841 + 71,078 Total gold certificate reserves 21,244,667 + 6,160 - 13,922 Other cash 328,796 - 29,549 + 21,767 Discounts and advances 83,977 + 47,232 - 256,745 Industrial loans 942 290 2,117 - - U. S. Government securities: Bought outright— Bills 22,,331166,,007755 + 664433,,777711 +1 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 - - + 73,771 Held under repurchase agreement -- - - -- Total U. S. Government securities 25,037,437 - - + 73,771 Total loans and securities 25,122,356 + 46,942 - 185,091 Due from foreign banks 22 1 -- - F. R. notes of other banks 134,452 - 9,866 - 11,139 Uncollected cash items 3,428,877 - 367,958 - 25,407 Bank premises 53,547 - 4 + 3,740 Other assets 100,846 + 8,707 - 9,545 TOTAL ASSETS 50,413,563 - 345,568 - 219,598 L I A B I L I T I ES Federal Reserve notes 25,800,914 + 212,782 - 162,658 Deposits: Member bank--reserve accounts 19,405,903 + 339944,,558811 - 228833,,660033 U. S. Treasurer--general account 299,535 - 575,333 - 131,162 Foreign 571,375 + 26,304 + 83,719 Other 380,003 + 3,472 + 204,317 Total deposits 20,656,816 150,976 126,729 - - Deferred availability cash items 2,814,802 415,029 + 37,260 - Other liabilities and accrued dividends 13,844 + 1,205 - 3,494 TOTAL LIABILITIES 49,206,376 352,01b 255,621 - - C A P I T AL A C C O U N TS Capital paid in 272,786 + 470 + . 12,489 Surplus (Section 7) 625,013 -- + 40,337 Surplus (Section ijb) 27,543 Other capital accounts 201,845 + 5,980 - l6,803 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,413,563 - 345,568 - 219,598 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7$ - . 1$ + .2$ Contingent liability on acceptances purchased for foreign correspondents 11,936 - 1,573 - 14,677 Industrial loan commitments 2,673 + 277 - 719 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 7, 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 58,950 4 488,400 16 90 765 2,818,900 to days 24,868 91 159 131 12,972,716 days to 1 year 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 Digitized for FRATSoEtRa l 83,977 942 25,037,437 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JULY 7, 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. Kans.Cy. Dallas SanFran. Gold certificates 20,387,102 1075,794 5,599,582 1279,735 1691,244 1017,912 947,492 3693,969 760,483 472,153 862,914 741,201 2244,623 Redemption fund for F. R. notes 857,565 51,674 171,956 56,999 78,251 70,282 55,941 147,185 48,156 25,009 40,484 29,488 82,140 Total gold certificate reserves 21,244,667 1127,468 5,771,538 1336,734 1769,495 1088,194 1003,433 3841,154 808,639 497,162 903,398 770,689 2326,763 Other cash 328,796 21,085 63,990 19,927 36,158 15,293 31,060 57,805 20,878 7,678 10,152 11,742 33,028 Discounts and advances 83,977 3,900 16,320 4,015 23,640 5,279 3,6o4 8,810 3,420 5,975 6,520 964 1,530 Industrial loans 942 —— 839 "" *•" — — — — — — 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 CUUUD \jyc.y -L I v, UM-J- I uy y y J \JJ J ±.<JCL f xj f y JKJ ( j U J3 * j*-y 3 5° 9 J-J J 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 25,037,437 1381,516 6,395,363 1523,728 2145,884 1474,655 1275,182 4376,995 1047,691 6l4,844 1080,215 983,821 2737,543 Total loans and securities 25,122,356 1385,416 6,411,683 1528,582 2169,524 1479,934 1278,786 4385,805 1051,111 620,922 1086,735 984,785 2739,073 Due from foreign banks 22 1 1/ 6 2 2 1 l 3 1 l 1 1 2 F.R. notes of other banks 134,452 3,115 21,867 6,589 8,444 11,735 18,183 14,277 9,231 6,631 7,873 8,828 17,679 Uncollected cash items 3,428,877 281,795 716,193 206,987 309,074 261,540 222,631 503,831 160,001 97,885 192,817 165,587 310,536 Bank premises 53,547 6,030 7,591 5,104 5,108 4,607 3,951 6,366 2,865 1,010 2,461 568 7,886 Other assets 100,846 5,258 24,457 5,895 8,849 5,831 5,769 17,076 4,445 2,473 4,593 4,942 11,258 TOTAL ASSETS 50,413,563 2830,168 13,017,325 3109,820 4306,654 2867,135 2563,814 8826,317 2057,171 1233,762 2208,030 1947,142 5446,225 l/ After deducting $l6,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JULY 7, 1954 H.4.1(c) (In thousands of dollars) X-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 25,800,914 1614,639 5,765,714 1832,734 2382,906 1741,447 1376,011 4961,637 1147,174 626,793 1006,668 728,057 2617,134 Deposits: Member bank-reserve accts.1 9,405,903 828,147 5,833,333 931,720 1483,418 788,653 903,799 3213,790 685,449 465,588 949,813 980,998 2341,195 U.S.Treasurer-general acct 299,535 26,655 56,367 23,911 21,531 21,334 19,666 22,447 16,078 13,662 21,777 22,344 33,763 Foreign 571,375 34,148 1/173,899 41,425 51,502 28,550 24,071 77,812 21,272 13,995 21,272 26,311 57,118 Other 32,695 __ ' Total deposits 20,656,816 893,766 6,356,439 1007,463 1567,458 841,988 949,239 3319,522 731,735 495,395 997,868 1031,172 2464,771 Deferred avail, cash items 2,814,802 251,970 575,264 186,483 252,220 223,076 186,647 382,823 132,751 81,381 158,447 135,505 248,235 Other liabilities and accrued dividends 13,844 840 4,380 651 1,516 615 580 2,310 471 475 484 528 994 49,286,376 2761,215 12,701,797 3027,331 4204,100 2807,126 2512,477 8666,292 2012,131 1204,044 2163,467 1895,262 5331,134 TOTAL LIABILITIES Capital paid in 272,786 14,759 83,484 18,492 26,204 12,159 11,815 36,072 9,451 6,077 10,482 13,605 30,186 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 201,845 12,404 48,092 13,599 17,696 12.751 10,726 31,732 9,603 6,349 9,488 8,822 20,583 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 50,413,563 2830,168 13,017,325 3109,820 4306,654 2867,135 2563,81 48826,317 2057,171 1233,762 2208,030 1947,142 5446,225 Contingent liability on acceptances purchased for foreign correspondents 11,936 726 2/3,487 881 1,095 607 512 1,654 452 297 452 559 1,214 Industrial loan commitments 2,673 920 747 45 117 20 824 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,688,815 1658,192 5,946,789 1913,184 2481,907 1836,775 1445,510 5052,540 1183,764 639,819 1028,466 757,158 2744,711 Collateral for F.R. notes: Gold certificates 11,043,000 640,000 2,670,000 600,000 950,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 24,804 2,985 --- 2,905 —- 4,514 --- — 2,850 5,600 5,950 U. S. Govt, securities 16,945,000 1200,000 3,600,000 1200,000 1550,000 1300.000 1000,000 2700,00 0950,000 500,000 800,000 525,000 1620,000 Total collateral 28,012,804 1842,985 6,270,000 2002,905 2500,000 1929,514 1485,000 5100,00 01307,850 680,600 1085,950808,000 3000,000 1/ After deducting $397,458,000 participation sof other Federa lReserve Banks. 2/ After deducting $8,449,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis