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 22, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended July 21, Member bank reserves increased $89 million. The principal changes supplying reserves were decreases of $142 million in Foreign deposits with Federal Reserve Banks, $127 million in Mpney in circulation, and $21 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decreas eof $206 million in Reserve Bank credit. The decrease of $206 million in Reserve Bank credit resulted from decreases of $188 millio nin U. S. Government securities bought outright and $29 million in Float, and an increase of $10 millio nin Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $188 millio nin bills. Change since Member Bank Reserves July 21, July 14, July 22, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 24,714 -188 -250 Held under repurchase agreement Loans, discounts and advances "94 + 10 -430 Float 654 - 29 -123 Total 25,463 -206 -802 Gold stock 21,931 + 2 -345 Treasury currency outstanding 4,958 +105 Money in circulation 29,854 -127 -197 Treasury cash holdings 808 2 -459 Treasury deposits with F. R. Banks 536 - 21 - 3 Foreign deposits with F. R. Banks 629 -142 +104 Other deposits with F. R. Banks 402 + 2 + 79 Other F. R. account s(net) 983 - 2 + 36 Member bank reserves 19,141 + 89 -601 Required reserves (estimated) 18,344 + 48 -754 Excess reserves (estimated) 797 + 4l +153 Daily averages for period-- Estimated excess reserves of member bank s928 +120 +314 Member bank borrowings at F. R. Bank s57 +4 -325 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,931 million, an increase of $143 million for the week and an increase of $528 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 21, July 14, July 22, 1954 1954 1953 A S S E TS Gold certificates 20,392,100 + 4,998 + 97,998 Redemption fund for F. R. notes 852,826 - 2,081 + 55,742 Total gold certificate reserves 21,244,926 + 2,917 + 153,740 F. R. notes of other Banks 177,915 12,471 + 5,404 Other cash 378,725 + 16,920 + 39,270 Discounts and advances 93,312 + 10,628 427,669 - Industrial loans 1,050 + 114 1,893 - U. S. Government securities: Bought outright— Bills 1,993,075 188,000 + 320,771 Certificates 6,599,791 +1, 604,075 -- Notes 13,029,021 744,650 - - - Bonds 3,092,550 -1,429,425 - - Total bought outright 24,714,437 188,000 249,229 - - Held under repurchase agreement Total U. S, Government securities 24,714,437 188,000 249,229 - - Total loans and securities 24,808,799 177,258 - 678,791 Due from foreign banks ~* 22 1 — — - Uncollected cash items 3,854,426 - 356,160 - 6,367 Bank premises 53,764 + 214 + 3,823 Other assets 116,586 + 8,181 - 12,202 TOTAL ASSETS 50,635,163 492,715 495,124 - - L I A B I L I T I ES Federal Reserve notes 25,573,871 99,160 2l8,8l4 - - Deposits: Member bank—reserve accounts 19,140,595 + 88,517 601,659 U. S. Treasurer—general account 535,880 - 21,186 - 3,054 Foreign 628,948 - 142,504 + 104,342 Other 402,290 + 2,691 + 79,715 Total deposits 20,707,713 72,482 420,656 - - Deferred availability cash items 3,199,953 - 327,921 + 116,157 Other liabilities and accrued dividends 14,604 + 795 - 4,577 TOTAL LIABILITIES 49,496,141 498,768 527,890 - - C A P I T AL A C C O U N TS Capital paid in 273,337 + 517 + 12,759 Surplus (Section 7) 625,013 + 40,337 — - Surplus (Section 13b) 27,543 - - «- mm Other capital accounts 213,129 + 5,536 - 20,330 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,635,163 492,715 495,124 - - Ratio of gold certificat ereserves to deposit and F, R. not eliabilities combined 45.9# + .2$ + .956 Contingent liability on acceptances purchased for foreign correspondents 9,106 1,093 16,182 Industrial loan commitments 2,432 165 1,151 - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 21, 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 72,441 3 611,325 16 to 90 days 20,714 729 2,372,975 91 days to 1 year 157 278 12,972,716 Over 1 year to 5 years 40 6,307,260 Over 5 years to 10 years 1,035,304 Over 10 years 1,414,857 Digitized for FRTAoStERa l 93,312 1,050 24,714,437 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JULY 21 ,1954 (la thousands of dollars) H.4.1(b) Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. A S S E TS Gold certificates 20,392,100 1063,497 5,587,276 1280,006 1746,118 991,970 945,645 3548,933 781,023 480,497 864,360 748,856 2353,919 Redemption fund for F. R, notes 852,826 51,475 171,086 56.577 77,951 68,276 55,737 146,868 48,067 24,971 40,4l6 29,423 81,979 Total gold certificate reserves 21,244,926 1114,972 5,758,362 1336,583 1824,069 1060,246 1001,382 3695,801 829,090 505,468 904,776 778,279 2435,898 F.R. notes of other Banks 177,915 10,683 31,674 11,383 8,364 16,402 22,312 19,594 8,368 11,377 10,821 8,049 18,888 Other cash 378,725 26,723 76,786 22,496 39,477 19,370 35,157 63,751 22,429 8,278 12,595 12,06l 39,602 Discounts and advances 93,312 3,473 12,950 6,040 9,950 8,839 3,594 14,300 7,775 5,375 10,890 7,576 2,550 Industrial loans 1,050 — — 950 — — — — 100 — — U. S. Govt, securities: Bought outright-- Bills 1,993,075 109,974 509,095 121,294 170,820 117,388 101,509 348,426 83,401 48,944 85,989 78,316 217,919 Certificates 6,599,791 364,163 1,665,798 401,650 565,648 388,715 336,133 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 2277,7<rr 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 24,714,437 1363,693 6,312,858 1504,071 2118,20 01455,631 1258,731 4320,529 1034,176 606,912 1066,280 971,129 2702,227 Held under repurchase agreement Total U. S. Government securities 24,714,437 1363,693 6,312,858 1504,071 2118,20 01455,631 1258,731 4320,52 91034,176 606,912 1066,280 971,129 2702,227 Total loans and securities 24,808,799 1367,166 6,325,808 1511,061 2128,150 1464,470 1262,325 4334,829 1041,951 612,387 1077,170 978,705 2704,777 Due from foreign banks 22 1 37 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,854,426 305,166 694,101 230,719 369,688 295,523 262,550 611,120 165,356 119,342 224,250 198,450 378,161 Bank premises 53,764 6,030 7,596 5,104 5,094 4,607 3,947 6,366 2,865 1,010 2,468 568 8,109 Other assets 116,586 6.172 28,512 7,104 9,986 6,710 6,541 19,930 5,048 2,866 5,399 5,720 12,598 50,635,163 2836,913 12,922,845 3124,452 4384,830 2867,329 2594,215 8751,394 2075,10 81260,729 2237,480 1981,833 5598,035 TOTAL ASSETS 1/ 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 21 ,1954 HA.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 25,573,871 1593,127 5,725,892 1818,946 2373,039 1713,725 1363,857 4945,031 1134,010 618,878 994,485 720,814 2572,067 Deposits: Member bank-reserve accts .19,140,595 837,098 5,728,193 930,759 1469,789 768,682 880,690 2976,138 696,576 461,827 949,060 981,894 2459,889 U.S.Treasurer-general acct. 535,880 35,372 90,867 36,648 55,945 43,242 42,031 77,655 30,439 29,900 40,757 27,976 25,048 Foreign 628,948 37,771 1/189,297 45,821 56,966 31,579 26,626 86,069 23,530 15,480 23,530 29,102 63,177 Other 2,701 2,028 3,665 560 Total deposits 20,707,713 914,657 6,325,313 1023,404 1591,650 846,204 951,375 3143,527 757,533 509,050 1016,818 1039,532 2588,650 Deferred avail, cash items 3,199,953 258,676 548,469 198,207 315,212 246,107 226,465 498,310 137,626 102,282 180,537 168,225 331199,,883377 Other liabilities and accrued dividends 14,604 912 4,688 690 1,443 646 651 2,272 477 527 514 649 1,135 TOTAL LIABILITIES 49,496,141 2767,372 12,604,362 3041,247 4281,344 2806,682 2542,348 8589,140 2029,646 1230,737 2192,354 1929,220 5481,689 Capital paid in 273,337 14,780 83,372 18,511 26,251 12,174 11,837 36,135 9,464 6,088 10,566 13,908 30,251 Suiplus (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 213,129 12,971 51,159 14,296 18,581 13,374 11,234 33,898 10,012 6,612 9,967 9,252 21,773 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,635,163 2836,913 12,922,845 3124,452 4384,830 2867,329 2594,215 8751,394 2075,10 81260,729 2237,480 1981,833 5598,035 Contingent liability on acceptances purchased for foreign correspondents 9,106 555 2/2,645 674 837 464 391 1,265 346 228 345 428 928 Industrial loan commitments 2,432 609 867 45 117 20 774 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,630,665 1650,207 5,933,450 1905,480 2480,16 41826,511 1435,909 5046,178 1192,6 16837,915 1027,724 758,950 2735,559 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 35,217 1,948 --- 4,190 --- 7,564 — --- 6,825 4,750 9,940 --- — 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 28,023,217 1841,948 6,270,000 2004,190 2500,000 1932,564 1485,000 5100,00 01311,825 679,750 1089,940 808,000 3000,000 l/ After deducting $439,632,000 participations of other Federal Reserve Banks. 2/ After deducting $6,461,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis