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 29, 1954 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended July 28, Member bank reserves decreased $5 million. The principal changes reducing reserves were decreases of $200 million in Reserve Bank credit and $24 million in Gold stock, and an increase of $12 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $80 million in Foreign deposits with Federal Reserve Banks, $78 million in Money in circulation, and $72 million in Other F. R. account s(net). The decrease of $200 million in Reserve Bank credit resulted from decreases of $197 million in U. S. Government securities bought outright and $129 million in Float, and an increase of $127 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $197 million in bills. Change since Member Bank Reserves July 28, July 21, July 29. and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,517 -197 447 - Held under repurchase agreement Loans, discounts and advances 221 +127 529 Float 525 -129 63 Total 25,263 -200 -1,038 Gold stock 21,907 - 24 370 - Treasury currency outstanding 4,959 + 1 + 106 Money in circulation 29,776 - 78 268 Treasury cash holdings 812 + 4 452 - Treasury deposits with F. R. Banks 548 + 12 - 293 Foreign deposits with F. -R. Banks 549 - 80 + 2 Other deposits with F. R. Banks 398 - 4 + 55 Other F. R. accounts (net) 911 - 72 + 48 Member bank reserves 19,136 - 5 - 393 Required reserves (estimated) 18,379 + 35 635 Excess reserves (estimated) 757 - 40 4* 242 Daily averages for period-- Estimated excess reserves of member b 683 -245 + 85 Member bank borrowings at F. R. Banks 85 + 28 - 529 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,007 million, an increase of $76 million for the week and an increase of $623 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 FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 28, July 21, July 29, 1954 1954 1953 A S S E TS Gold certificates 20,367, HA 24,996 + 73,002 Redemption fund for F. R. notes 852,726 100 + 61,415 Total gold certificate reserves 21,219,830 25,096 + 134,417 F. R. notes of other Banks 131,185 46,730 - 47,985 Other cash 393,55% + 14,829 + 42,792 Discounts and advances 220,132 + 126,820 - 526,714 Industrial loans 999 51 2,099 U. S. Government securities: Bought outright— Bills 1,795,925 - 197,150 4- 123,621 Certificates 6,599,791 +1,604,075 Notes 13,029,021 - 744,650 Bonds -2*2221550 " -1,429,425 Total bought outright 24,517,287 - 197,150 - 446,379 Held under repurchase agreement Total U. S. Government securities 24,517,287 - 197,150 - 446,379 Total loans and securities 24,738,418 - 70,381 - 975,192 Due from foreign banks 22 Uncollected cash items 3,447,068 - 407,358 - 40,282 Bank premises 53,703 61 + 3,847 Other assets 123,828 + 7,242 - 13,761 TOTAL ASSETS 50,107,608 - 527,555 - 896,163 L I A B I L I T I ES Federal Reserve notes 25,465,973 - 107,898 - 327,500 Deposits: Member bank--reserve accounts 19,136,320 4,275 - 392,631 U. S. Treasurer—general account 548,124 + 12,244 - 293,298 Foreign 548,891 80,057 + 2,253 Other 397,579 : M il + 54,4I4 Total deposits 20,630,914 : 7V799 ^"'629,262 Deferred availability cash items 2,922,556 - 277,397 + 22,854 Other liabilities and accrued dividends 15,109 + 5g5 - M 34 TOTAL LIABILITIES 5-9,034,552 -461,589 - 937,442 C A P I T AL A C C O U N TS Capital paid in 273,663 326 + 12,925 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 146,837 66,292 - 11,983 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,107.608 - 527,555 - 896,163 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46«0$ + .1$ 1.2% Contingent liability on acceptances purchased for foreign correspondents 8,562 544 14,753 Industrial loan commitments 2,4§i-0 + 49 1,068 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 28, 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 132,673 3 606,675 l6 to 90 days 87,302 689 2,180,475 91 days to 1 year 157 267 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. Total Digitized for FRASER 220,132 999 24,517,287 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 28, 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 20,367,104 1043,565 5,474,459 1261,073 1767,158 1029,197 926,065 3734,787 786,985 460,660 848,451 712,446 2322,258 Redemption fund for F. R. notes 852,726 51,471 171,069 56,574 77,940 68,269 55,733 146,851 48,064 24,967 40,402 29,417 81,969 Total gold certificate reserves 21,219,830 1095,036 5,645,528 1317,647 1845,098 1097,466 981,798 3881,638 835,049 485,627 888,853 741,863 2404,227 F.R. notes of other Banks 131,185 8,4l6 19,504 6,685 7,372 13,911 18,495 11,204 6,554 13,019 7,563 4,679 13,783 Other cash 393,554 27,986 80,708 22,744 41,997 19,123 34,309 65,914 25,101 8,603 13,122 11,967 41,980 Discounts and advances 220,132 11,255 39,290 10,925 21,240 20,222 21,479 36,255 17,320 5,175 13,240 10,866 12,865 Industrial loans 999 — — 899 100 U. S. Govt, securities: Bought outright— Bills 1,795,925 99,096 458,737 109,296 153,923 105,776 91,468 313,960 75,151 44,103 77,483 70,569 196,363 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 24,517,287 1352,815 6,262,500 1492,073 2101,303 1444,019 1248,690 4286,063 1025,926 602,071 1057,774 963,382 2680,671 Held under repurchase agreement Total U. S. Government securities 24,517,287 1352,815 6,262,500 1492,073 2101,303 1444,019 1248,690 4286,063 1025,926 602,071 1057,774 963,382 2680,671 Total loans and securities 24,738,418 1364,070 6,301,790 1503,897 2122,543 1464,241 1270,169 4322,318 1043,246 607,346 1071,014 974,248 2693,536 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,447,068 263,287 615,315 213,410 328,379 270,544 233,215 535,925 147,647 103,143 191,890 203,060 341,253 Bank premises 53,703 5,997 7,600 5,147 5,08? 4,585 3,947 6,361 2,859 1,007 2,468 568 8,077 Other assets 123,828 6,509 30,153 7,431 10,735 7,233 7,021 21,364 5,474 3,078 5,717 5,983 13,130 TOTAL ASSETS 50,107,608 2771,302 12,700,604 3076,963 4361,213 2877,104 2548,955 8844,727 2065,931 1221,824 2180,628 1942,369 5515,988 l/ After deducting $l6,000 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 JULY 28, 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. Rans.Cy. Dallas SanFran. Federal Reserve notes 25,465,973 1579,7^6 5,713,837 1804,840 2368,170 1708,896 1355,159 4932,983 1128,501 613,372 991,853 719,424 2549,192 Deposits: Member bank-reserve accts. 19,136,320 822,000 5,584,378 922,554 1491,571 808,467 888,957 3161,968 708,795 444,084 921,771 953,823 2427,952 U.S.Treasurer-general acct. 548,124 26,6l4 131,419 38,245 52,748 40,279 27,070 6l,6lO 31,833 28,350 42,442 23,749 43,765 Foreign 548,891 32,849 l/l66,537 39,849 49,542 27,463 23,156 74,852 20,463 13,462 20,463 25,309 54,946 Other 397,579 5,218 308,381 1,984 2,183 4,728 8,267 1,613 38,921 Total deposits 20,630,914 886,681 6,190,715 1011,879 1605,256 878,193 941,366 3303,158 769,358 487,509 987,081 1004,134 2565,584 Deferred avail, cash items 2,922,556 237,765 490,158 180,181 288,268 232,314 202,894 456,440 124,548 92,045 158,673 167,904 291,366 Other liabilities and accrued dividends 15,109 910 5,325 638 1,554 714 720 2,127 512 393 590 712 914 TOTAL LIABILITIES 49,034,552 2705,102 12,400,035 2997,538 4263,248 2820,117 2500,139 8694,708 2022,919 1193,319 2138,197 1892,174 5407,056 Capital paid in 273,663 14,781 83,376 18,696 26,254 12,225 11,838 36,180 9,475 6,093 10,571 13,908 30,266 Surplus (Section J) 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 146,837 9,629 33,241 10,331 13,057 9,663 8,182 21,6l8 7,551 5,120 7,267 6,834 14.344 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,107,608 2771,302 12,700,604 3076,963 4361,213 2877,104 2548,955 8844,727 2065,931 1221,824 2180,628 1942,369 5515,988 Contingent liability on acceptances purchased for foreign correspondents 8,562 ... 525 2/2,456 636 791 439 370 1,195 327 215 327 4o4 877 Industrial loan commitments 2,48rx 659 867 45 llfst) 20 774 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,554,651 1644,017 5,914,395 1898,679 2482,440 1818,095 1428,521 5033,468 1189,227 636,663 1028,392 761,4o4 2719,350 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 54,047 5,460 — 3,895 —- 15,377 — — 13,710 2,800 9,630 — 3,175 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 28,042,047 1845,460 6,270,000 2003,895 2500,000 1940,377 1485,000 5100,000 1318,710 677,800 1089,630 808,000 3003,175 l/ After deducting $382,335,000 participations of other Federal Reserve Banks. 2/ After deducting $6,106,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis