H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) August 5, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended August 4, Member bank reserves decreased $403 million. The principal changes reducing reserves were a decrease of $158 million in Reserve Bank credit and increases of $129 million in Treasury deposits with Federal Reserve Banks, $117 million in Money in circulation, and $30 million in Other deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $24 million in Foreign deposits with Federal Reserve Banks. The decrease of $158 million in Reserve Bank credit resulted from decreases of $192 million in U. S. Government securities bought outright and $50 million in Loans, discounts and advances, and an increase of $84 million in Float. Holdings of U. S. Government securities bought outright reflected a decrease of $192 million in bills. The decrease of $697 million in estimated required reserves of member banks reflected the lower reserve requirements which became effective during the week and which lessened required reserves approximately $931 million. These reductions in reserve requirements are the last in a series which were announced by the Board on June 21. Change since Member Bank Reserves August 4, July 28, August 5, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,325 -192 - 639 Held under repurchase agreement Loans, discounts and advances 171 - 50 - 393 Float 609 + 84 - 16 Total 25,105 -158 -1,048 Gold stock 21,908 + 1 - 319 Treasury currency outstanding 4,959 + 101 Money in circulation 29,893 +117 - 246 Treasury cash holdings 808 - 4 - 468 Treasury deposits with F. R. Banks 677 +129 + 217 Foreign deposits with F. R. Banks 525 - 24 - 32 Other deposits with F. R. Banks 428 + 30 + 96 Other F. R. accounts (net) 907 - 4 + 47 Member bank reserves 18,733 -403 - 881 Required reserves (estimated) 17,682 -697 -1,277 Excess reserves (estimated) 1,051 +294 + 396 Daily averages for period-- Estimated excess reserves of member banks 1,055 +372 463 Member bank borrowings at ?. R. Banks 71 - 14 547 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,057 million, an increase of $50 million for the week and an increase of $679 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H . 1 ( a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since August 4, July 28, August 5, 1954 1954 1953 A S S E TS Gold certificates 20,367,102 2 + 124,001 Redemption fund for F. R. notes 850,554 2,172 + 58,332 Total gold certificate reserves 21,217,656 2,174 + 182,333 F. R. notes of other Banks 118,927 12,258 - 62,228 Other cash 382,744 10,810 + 45,958 Discounts and advances 169,986 50,146 - 390,672 Industrial loans 1,056 57 1,922 U. S. Government securities: Bills 1,603,750 - 192,175 - 68,554 Certificates 6,599,791 +1,604,075 Notes 13,029,021 -- - 744,650 Bonds 3,092,550 -1,429,425 Total bought outright 24,325,112 - 192,175 - 638,554 Held under repurchase agreement — - • — «* — Total U. S. Government securities 24,325,112 - 192,175 - 638,554 Total loans and securities 24,496,154 - 242,264 -1,031,148 Due from foreign banks 22 « — l Uncollected cash items 3,418,325 - 28,743 + 28,143 Bank premises 53,664 39 + 3,669 Other assets 132,572 + 8,744 - 14,336 TOTAL ASSETS 49,820,064 - 287,544 - 847,610 L I A B I L I T I ES Federal Reserve notes 25,554,185 + 88,212 - 328,857 Deposits: Member bank—reserve accounts 18,733,491 - 402,829 - 880,105 U. S. Treasurer—general account 676,740 + 128,616 + 216,326 Foreign 524,706 - 24,185 - 31,909 Other 428,201 + 30,622 + 96,223 Total deposits 20,363,138 - 267,776 - 599,465 Deferred availability cash items 2,809,397 - 113,159 + 44,539 Other liabilities and accrued dividends 14,113 996 TOTAL LIABILITIES 40,740,633 - 293,719 r - ^S C A P I T AL A C C O U N TS Capital paid in 273,923 260 + 13,212 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 152,752 + 5,915 l4,o4o TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,820,064 - 287,544 - 847,610 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.2# .2# 1.3# Contingent liability on acceptances purchased for foreign correspondents 8,396 166 17,010 Industrial loan commitments 2,390 90 1,184 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 4, 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 71,375 2 717,000 16 to 90 days 98,372 754 1,877,975 91 days to 1 year 239 260 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 —1,414,057 Digitized for FR T A o SE ta R l 169,986 1,056 24,325>112 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 4, 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 20,367,102 979,552 5,406,188 1225,347 1718,024 1009,527 1006,486 3668,397 838,734 473,937 869,755 809,848 2361,307 Redemption fund for F. R. notes 850,554 51,373 170,680 56,376 77,802 67,390 55,634 146,696 48,023 24,949 40,366 29,398 81,867 Total gold certificate reserves 21,217,656 1030,925 5,576,868 1281,723 1795,826 1076,917 1062,120 3815,093 886,757 498,886 910,121 839,246 2443,174 F.R. notes of other Banks 118,927 10,053 19,643 5,790 3,524 10,400 17,700 ll,6l4 5,807 12,265 6,237 4,978 10,916 Other cash 382,744 28,109 75,498 23,771 40,937 18,450 34,177 65,910 23,856 8,343 11,694 11,590 40,409 Discounts and advances 169,986 8,650 38,355 11,165 17,560 11,687 6,565 26,400 4,090 4,450 23,890 6,264 10,910 Industrial loans 1,056 957 99 U, S. Govt, securities: Bought outright— Bills 1,603,750 88,492 409,649 97,601 137,452 94,458 81,680 280,364 67,109 39,384 69,192 63,018 175,351 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 2277,707 545,199 319,953 562,124 511,962 1424,567 Bonds 3 f \JycLy fi Total 24,325,112 1342,211 6,213,412 1480,378 2084,832 1432,701 1238,902 4252,467 1017,884 597,352 1049,483 955,831 2659,659 Held under repurchase agreement Total U. S. Government securities 24,325,112 1342,211 6,213,412 1480,378 2084,832 1432,701 1238,902 4252,467 1017,884 597,352 1049,483 955,831 2659,659 Total loans and securities 24,496,154 1350,861 6,251,767 1492,500 2102,392 1444,388 1245,467 4278,867 1021,974 601,901 1073,373 962,095 2670,569 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Due from foreign banks Uncollected cash items 3,418,325 296,762 637,120 215,228 303,079 271,110 230,374 565,330 145,579 100,691 174,614 157,557 320,881 53,664 5,997 7,584 5,147 5,087 4,585 3,947 6,347 2,859 1,007 2,462 565 8,077 Bank premises 132,572 6,921 32,324 7.985 11,550 7,748 7,476 22,906 5,894 3,274 6,060 6,113 14,321 Other assets 49,820,064 2729,629 12,600,810 3032,146 4262,397 2833,599 2601,262 8766,070 2092,727 1226,368 2184,562 1982,145 5508,349 TOTAL ASSETS l/ 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 AUGUST 4, 1954 H.4.1(c) (In thousands of dollars) L I A B I L I T I ES Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,554,185 15 78,488 5,727,310 1803,783 2368,473 1723,124 1362,841 4942,950 1135,188 610,411 998,919 730,889 2571,809 Deposits: Member bank-reserve accts. 18,733,4-91 770,097 5,487,979 876,564 1433,245 768,011 926,934 2954,282 685,296 445,486 961,349 1024,304 2399,944 U.S.Treasurer-general acct. 676,740 34,026 115,769 34,884 41,333 39,991 39,922 194,705 52,833 36,626 22,088 22,720 41,843 Foreign 524,706 31,433 1/158,825 38,132 47,4o8 26,280 22,158 71,627 19,581 12,883 19,581 24,219 52,579 Other 428,201 4,820 337,339 10,295 11,050 2,767 889 4,4o6 6,675 2,819 6,156 757 40,228 Total deposits 20,363,138 840,376 6,099,912 959,875 1533,036 837,049 989,903 3225,020 764,385 497,814 1009,174 1072,000 2534,594 Deferred avail, cash items 2,809,397 243,418 466,947 188,062 260,809 215,472 198,827 444,732 149,469 88,763 133,319 128,384 291,195 Other liabilities and accrued dividends 14,113 816 4,366 665 1,656 596 539 2,273 450 765 482 467 1,038 TOTAL LIABILITIES 48,740,833 2663,098 12,298,535 2952,385 4163,974 2776,241 2552,110 8614,975 2049,492 1197,753 2141,894 1931,740 5398,636 Capital paid in 273,923 14,781 83,423 18,706 26,241 12,231 11,874 36,193 9,472 6,103 10,571 13,910 30,418 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 14,973 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,820,064 2729,629 12,600,810 3032,146 4262,397 2833,599 2601,262 8766,070 2092,727 1226,368 2184,562 1982,145 5508,349 Contingent liability on acceptances purchased for foreign correspondents 8,396 512 2/2,432 622 773 428 361 1,168 319 210 319 395 857 Industrial loan commitments 2,390 — — - 600 867 45 115 20 — - - -- 743 - - — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,532,889 1644,434 5,911,158 1898,759 2478,269 1816,308 1423,782 5032,531 1187,402 635,736 1028,388 759,884 2716,238 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1000,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 33,997 2,245 3,395 — 6,332 100 1,825 19,900 -- - 200 U.S. Govt, securities 16,880,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 2700,000 935,000 500,000 800,000 525,000 1620,000 Total collateral 28,006,997 1842,245 6,270,000 2003,395 2500,000 1931,332 1485,000 5100,000 1290,100 676,825 1099,900 808,000 3000,200 l/ After deducting $365,863,000 participations of other Federal Reserve Banks. 2/ After deducting $5,964,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis