H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H .4.1 (For Immediate Release) July 15, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended July 14, Member ban kreserves decreased $354 million. The principal changes reducing reserves were increases of $257 million in Treasury deposits with Federa lReserve Banks, $200 million in Foreign deposits with Federal Reserve Banks, and $20 million in Other deposits with Federal Reserve Banks, and a decrease of $67 million in Reserve Bank credit. The principal offsetting changes were decreases of $173 millio nin Money in circulation and $16 million in Treasury cash holdings. The decrease of $67 million in Reserve Bank credit resulted from decreases of $135 million in U. S. Government securities bought outright and $1 million in Loans, discounts and advances, and increase of $69 million in Float. Holdings of U. S. Government securities bought outright reflected a decrease of $135 million in bills. Change since Member Bank Reserves July 14, July 7, July 15, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,902 -135 - 62 Held under repurchase agreement Loans, discounts and advances 84 - 1 -119 Float 683 + 69 - 73 Total 25,669 - 67 -254 Gold stock 21,929 + 1 -445 Treasury currency outstanding 4,958 - l +105 Money in circulation 29,981 -173 -182 Treasury cash holdings 810 - 16 -454 Treasury deposits with F. R. Banks 557 +257 - 83 Foreign deposits with F. R. Banks 771 +200 +210 Other deposits with F. R. Banks 400 + 20 +221 Other F. R. account s(net) 985 - 2 + 38 Member bank reserves 19,052 -354 -345 Required reserves (estimated) 18,296 -110 + 43 Excess reserves (estimated) 756 -244 -388 Daily averages for period-- Estimated excess reserves of member banks 808 -167 -379 Member bank borrowings at F. R. Banks 53 - 3 -177 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,788 million, a decrease of $145 millio nfor the week and an increase of $4o4 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 14, July 7, July 15, 1954 1954 1953 A S S E TS Gold certificates 20,387,102 18,000 Redemption fund for F. R. notes 854,907 2,658 + 68,822 - Total gold certificate reserves 21,242,009 - 2,658 + 50,822 Other cash 361,805 + 33,009 + 31,519 Discounts and advances 82,684 1,293 116,951 - - Industrial loans 936 6 2,135 - - U. S. Government securities: Bought outright-- Bills 2,181,075 135,000 + 508,771 Certificates 6,599,791 +1 ,604,075 -- Notes 13,029,021 — ~ - 744,650 Bonds 3,092,550 -1,429,425 - - Total bought outright 24,902,437 135,000 61,229 - - Held under repurchase agreement Total U. S» Government securities 24,902,437 135,000 61,229 - - Total loans and securities 24,986,057 - 136,299 180,315 Due from foreign banks 22 1 — — - F. R. notes of other banks 165,444 + 30,992 335 - Uncollected cash items 4,210,586 + 781,709 34,523 - Bank premises 53,550 + 3 + 3,698 Other assets 108,405 + 7,559 - 10,240 TOTAL ASSETS 51,127,878 + 714,315 139,375 - L I A B I L I T I ES Federal Reserve notes 25,673,031 127,883 213,346 - Deposits: Member bank—reserve accounts 19,052,078 - 353,825 - 344,809 U. S. Treasurer--general account 557,066 + 257,531 - 82,906 Foreign 771,452 + 200,077 + 210,914 Other 399,599 + 19,596 + 220,690 Total deposits 20,780,195 + 123,379 + 3,889 Deferred availability cash items 3,527,874 + 713,072 + 39,102 Other liabilities and accrued dividends 13,809 - 35 - 3,347 TOTAL LIABILITIES 49,994,909 + 708,533 173,702 - C A P I T AL A C C O U N TS Capital paid in 272,820 + 34 + 12,310 Surplus (Section 7) 625,013 -- + 40,337 Surplus (Section 13b) 27,543 *» -- Other capital accounts 207,593 + 5,748 18,320 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,127,878 + 714,315 139,375 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7% + .3# Contingent liability on acceptances purchased for foreign correspondents 10,199 - 1,737 - 15,554 Industrial loan commitments 2,597 76 854 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY Ik, 195k (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 58,619 3 516,825 16 to 90 days 23,908 695 2,655,475 91 days to 1 year 157 197 12,972,716 Over 1 year to 5 years kl 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years 1.414,857 Digitized for FRATSoEtRa l 82,68V 936 24,902,437 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BANKS ON JULY 14 ,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 1115,226 5,370,446 1278,272 1757,361 1029,347 948,130 3702,797 785,293 472,083 843,640 752,301 2332,206 Redemption fund for F. R. notes 854,907 51,569 171,461 56,762 78,090 69,154 55,827 147,005 48,107 24,984 40,445 29,452 82,051 Total gold certificate reserves 21,242,009 1166,795 5,541,907 1335,034 1835,45 11098,501 1003,957 3849,802 833,400 497,067 884,085 781,753 2414,257 Other cash 361,805 23,714 73,383 21,664 39,152 18,057 3l,l6l 62,282 21,742 7,627 11,056 12,110 39,857 Discounts and advances 82,684 4,880 12,780 5,925 10,930 6,754 5,464 14,715 2,315 5,375 6,810 3,706 3,030 Industrial loans 936 — 835 — — — — — 101 — U. S. Govt, securities: Bought outright-- Bills 2,181,075 120,348 557,116 132,736 186,933 128,461 111,084 381,291 91,267 53,561 94,100 85,703 238,475 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 1 vy iuu,tuu c u ? , - L? f ?u \ Lay , H-UO is) yLr'r f Total 24,902,437 1374,067 6,360,879 1515,513 2134,313 1466,704 1268,306 4353,394 1042,042 611,529 1074,391 978,516 2722,783 Held under repurchase agreement Total U. S. Government securities 24,902,437 1374,067 6,360,879 1515,513 2134,313 1466,704 1268,306 4353,394 1042,042 611,529 1074,391 978,516 2722,783 Total loans and securities 24,986,057 1378,947 6,373,659 1522,273 2145,243 1473,458 1273,770 4368,109 1044,357 617,005 1081,201 982,222 2725,813 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 1 11 2 F.R. notes of other banks 165,444 6,505 30,121 11,737 8,222 12,755 21,660 17,209 9,474 7,006 8,843 8,853 23,059 Uncollected cash items 4,210,586 325,247 787,554 241,560 390,958 342,426 304,452 691,127 195,027 127,594 221,911 202,535 380,195 Bank premises 53,550 6,030 7,596 5,104 5,099 4,607 3,951 6,366 2,865 1,010 2,468 568 7,886 Other assets 108,405 5,713 26,366 6,373 9,249 6,399 6,178 18,624 4,715 2,684 4,981 5,280 11,843 TOTAL ASSETS 51,127,878 2912,952 12,840,592 3143,747 4433,376 2956,204 2645,130 9013,522 2111,581 1259,994 2214,546 1993,322 5602,912 l/ After deducting $16,000 participation sof 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 14 ,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 25,673,031 1605,122 5,732,711 1824,953 2380,432 1728,623 1370,607 4954,824 ll4o,97I 620,672 998,307 724,497 2591,312 Deposits: Member bank-reserve accts.1 9,052,078 852,437 5,525,704 926,624 1478,181 809,718 901,559 3109,643 695,993 447,002 932,648 968,755 2403,814 U.S.Treasurer-general acct 557,066 44,029 106,382 29,912 51,928 26,517 28,541 101,857 32,331 27,382 28,656 31,611 47,920 Foreign 771,452 46,726 1/227,573 56,684 70,472 39,066 32,938 106,474 29,108 19,150 29,108 36,002 78,151 Other 399,599 4,086 317,923 9,604 10,877 2.418 964 2,468 7,951 1.689 4,295 707 36,617 Total deposits 20,780,195 947,278 6,177,582 1022,824 1611,458 877,719 964,002 3320,442 765,383 495,223 994,707 1037,075 2566,502 Deferred avail, cash items 3,527,874 290,435 609,039 212,512 337,203 288,811 258,258 574,956 159,435 113,728 176,176 179,108 328,213 Other liabilities and accrued dividends 13,809 876 4,330 609 1,218 728 634 2,164 533 512 542 546 1,117 TOTAL LIABILITIES 49,994,909 2843,711 12,523,662 3060,898 4330,311 2895,881 2593,501 8852,386 2066,322 1230,135 2169,732 1941,226 5487,144 Capital paid in 272,820 14,762 83,346 18,503 26,242 12,170 11,836 36,096 9,460 6,083 10,494 13,606 30,222 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 TOTAL LIABILITIES AMD .... *7 r T ' < 7 11 if. CAPITAL ACCOUNTS 51,127,878 2912,952 12,840,592 3143,747 4433,376 2956,204 2645,130 9013,522 2111,581 1259,994 2214,546 1993,322 5602,912 Contingent liability on acceptances purchased for foreign correspondents 10,199 622 2/2,957 755 938 520 439 1,418 388 255 388 479 l,o4o Industrial loan commitments 2,597 724 867 45 117 20 824 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,672,397 1656,408 5,945,746 1907,582 2474,122 1829,951 1433,944 5054,746 1193,878 639,200 1029,843 760,707 2746,270 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 29,254 3,965 4,815 --- 5,989 — 1,745 5,000 6,240 1,500 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 l/ After deducting $543,860,000 participation sof other Federa lReserve Banks. 2/ After deducting $7,242,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis