H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) September 2, 195k CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ende dSeptember 1, Member ba nrkeserves decreased $49 million. The principal changes reducing reserves were an increase of $137 million in Mone yin circulation and a decrease of $4 9million in Gold stock. The principal offsetting changes were decreases of $79 millio nin Foreign deposits with Federa lReserve Banks and $13 million in Other deposits with Federal Reserve Banks and an increase of $31 millio nin Reserv eBank credit. The increase of $31 millio nin Reserv eBank credit resulted from increases of $70 millio nin U ,S, Government securities bought outright and $45 million in U .S, Government securities held under repurchase agreement, and decreases of $64 million in Floa tand $20 million in Loans, discounts an dadvances, Holdings of U, S. Government securities bought outright reflected an increase of $70 millio nin bills. Change since Member Bank Reserves Sept. 1, August 25, Sept. 2, and Related Items 1954 1954 1953 „ (in millions of dolors) Reserve Bank credit: U. S. Government securities-- Bought outright 23>894 + 70 -1,120 Held under repurchase agreement 129 + 45 + 76 Loans, discounts an dadvances 294 - 20 - 100 Float 573 - 64 - 37 Total 24,890 + 31 -1,181 Gold stock 21,809 - 49 - 369 Treasury currency outstanding 4,965 + 4 + 100 Money in circulation 29,923 +137 - 317 Treasury cash holdings 809 - 3 - 469 Treasury deposits with F. R. Ban k5s91 - 5 + 50 Foreign deposits with F. R. Ban k4s83 - 79 - 55 Other deposits with F. R. Ban k4s04 - 13 + 71 Other F. R. account s(net) 924 - 3 + 65 Member bank reserves 18,530 - 49 - 795 Required reserves (estimated) 17,545 - 29 -1,339 Excess reserves (estimated) 985 - 20 + 544 Daily averages for period-- Estimated excess reserves of member bank s778 + 7 + 177 Member bank borrowings at F. R. Bank s95 + 7 - 411 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,981 million, a decreas eof $31 millio nfor the week and an increase of $3&9 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 af dollars) Change since Sept. 1, August 25, Sept. 2, 195% 1954 1953 A S S E TS Gold certificates 20,287,103 40,001 + 157,001 Redemption fund for F. R. notes 840,241 - 4,235 22,424 Total gold certificat ereserves 21,127,344 -44,236 + 134,577 F. R. note sof other Banks 129,535 - 12,503 43,366 Other cash 361,198 - 15,275 + 26,257 Discounts and advances 293,185 - 19,674 - 98,249 Industrial loans 605 37 2,105 U. S. Government securities: Bought outright— Bills 1,173,150 + 70,000 - 549,154 Certificates 6,599,791 +1,604,075 Notes 13,029,021 - 744,650 Bonds 3,092,550 -1,429,425 Total bought outright 23,894,512 + 70,000 -1,119,154 Held under repurchase agreement 128,600 + 44,800 + 75,600 Total U. S. Government securities 24,023,112 + 114,800 -1,043,55% Total loans an dsecurities 24,316,902 + 95,089 -1,143,908 Due from foreign banks 22 Uncollected cash items 3,440,095 + 29,342 + 13,994 Bank premises 53,731 + 33 + 3,763 Other assets 140,747 + 7,823 - 39,848 TOTAL ASSETS 49,569,574 + 60,273 -1,048,531 L I A B I L I T I ES Federal Reserve notes 25,576,049 + 108,222 • 399,350 Deposits: Member bank—reserve accounts 18,530,107 49,200 • 795,040 U. S. Treasurer—general account 591,043 4,904 f 50,359 Foreign 483,138 - 78,773 - 55,119 Other 404,386 - 12,746 f 71,471 Total deposits 20,008,674 - 145,623 - 728,329 Deferred availability cash items 2,866,736 + 92,826 + 50,543 Other liabilities and accrued dividends 14,725 589 • 3,896 TOTAL LIABILITIES 48,466,104 + 54,836 -1,081,032 C A P I T AL A C C O U N TS Capital paid in 274,872 27 + 13,605 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 175,962 + 5,464 - 21,441 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,569,574 + 60,273 -1,048,531 Ratio gf gold certificat ereserves to deposit and F. R. not eliabilities combined 46.3# 1.4# Contingent liability on acceptances purchased for foreign correspondents 5,334 + 40 19,989 Industrial loan commitments 2,793 + 15 657 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES, SEPTEMBER 1, 1954 (Securities held under repurchase agreement ar eclassified as maturing within 15 days in accordanc ewith maximu mmaturity of th eagreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days 197,146 2 668,500 16 to 90 day s95,8l4 361 91 days to 1 yea r225 205 I'onn'rkn Over 1 year to 5 year s-- 37 6,299, Over 5 years to 10 year s^ — # — t es ) k fie;? Digitized for FRASER http://fraser.stlouisfed.org/ 293:1% Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BANKS ON SEPTEMBE R1, 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 20,287,103 988,760 5,496,991 1234,008 1728,653 1066,78 6910,794 3687,254 802,888 473,215 868,632 756,247 2272,875 Redemption fund for F. R. notes 840,241 50,895 168,783 55,345 77,028 63,516 55,142 145,946 47,783 24,860 40,211 29,244 81,488 Total gold certificate reserves 21,127,344 1039,655 5,665,774 1289,353 1805,68 11130,302 965,936 3833,200 850,671 498,075 908,843 785,491 2354,363 F.R. notes of other Banks 129,535 11,353 24,253 6,446 4,428 13,312 19,249 12,210 6,199 12,393 6,555 3,487 9,650 Other cash 361,198 25,716 65,793 22,895 40,377 16,740 33,079 60,529 23,544 8,890 13,152 13,050 37,433 Discounts and advances 293,185 8,625 92,135 11,010 34,480 14,972 14,670 72,840 5,470 5,700 13,934 4,469 14,880 Industrial loans 605 512 93 U. S. Govt, securities: Bought outright— Bills 1,173,150 64,732 299,660 71,395 100,547 69,096 59,749 205,088 49,091 28,810 50,614 46,098 128,270 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 23,894,512 1318,451 6,103,423 1454,172 2047,927 l407~,339 1216,971 4177,191 999,866 586,778 1030,905 938,911 2612,578 Held tinder repurchase agreement 128,600 128,600 Total U. S. Government securities 24,023,112 1318,451 6,232,023 1454,172 2047,927 1407,339 1216,971 4177,191 999,866 586,778 1030,905 938,911 2612,578 Total loans and securities 24,316,902 1327,076 6,324,158 1465,694 2082,407 1422,311 1231,641 4250,031 1005,336 592,571 1044,839 943,380 2627,458 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,440,095 265,087 648,136 207,371 315,473 277,661 245,500 542,865 141,552 100,658 168,918 211,4o8 315,466 Bank premises 53,731 5,963 7,624 5,173 5,062 4,563 3,933 6,327 2,853 1,005 2,456 562 8,210 Other assets 140,747 7,654 34,317 8,4l8 12,427 8,245 7,736 24,162 6,169 3,393 6,374 6,548 15,304 TOTAL ASSETS 49,569,574 2682,505 12,770,061 3005,352 4265,857 2873,135 2507,075 8729,327 2036,325 1216,986 2151,138 1963,92 75367,886 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 CONDITIO NOF THE FEDERA LRESERVE BANKS OH SEPTEMBE R1, 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 25,576,049 1569,035 5,740,269 1787,825 2376,53 21754,768 1360,50 74946,287 1133,153 597,846 1003,478 737,590 2568,759 Deposits: Member bank-reserve accts .18,530,107 751,035 5,603,439 878,760 1418,809 757,851 830,200 3046,377 679,193 450,816 896,042 940,558 2277,027 U.S.Treasurer-general acct. 591,043 47,506 141,188 30,486 48,322 35,512 34,578 52,324 39,188 35,134 44,863 35,696 46,246 Foreign 483,138 29,097 1/144,449 35,298 43,884 24,327 20,511 66,303 18,126 11,925 18,126 22,419 48,673 1.078 3.969 911 Total deposits 20,008,674 830,991 6,210,950 955,571 1:5 20,508 821,390 886,367 3168,973 744,047 499,074 965,792 999,584 2405,427 Deferred avail, cash items 2,866,736 214,185 505,104 179,988 266,286 237,772 209,324 456,149 114,471 90,544 137,870 174,980 280,063 Other liabilities and accrued dividends 14.725 631 5.088 764 1.648 570 640 2.288 505 390 507 502 1.192 TOTAL LIABILITIES 48,466,184 2614,842 12,461,411 2924,148 4164,974 2814,500 2456,838 8573,697 1992,176 1187,854 2107,647 1912,656 5255,441 Capital paid in 274,872 14,784 83,446 18,740 26,727 12,243 11,903 36,408 9,509 6,117 10,489 13,939 30,567 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 ijb) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 3,137 1,307 2,140 Other capital accounts 175.962 11.089 41.252 12.066 15.502 11.293 9,539 27.001 8.654 5,7# 8,40? 7.879 17,, 55^ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,569,574 2682,505 12,770,06 13005,352 4265,857 2873,135 2507,0 785729,327 2036,325 1216,986 2151,138 1963,92 75367,886 Contingent liability on acceptances purchased for foreign correspondents 5,334 329 2/1,500 400 497 275 232 751 205 135 205 254 551 Industrial loan commitments 2,793 1,044 867 45 113 19 705 FEDERAL RESERVE AGENTS 1ACCOUNTS F. EU notes outstanding 26,517,599 1634,545 5,917,028 1881,86 42478,789 1821,929 1420,730 5046,021 1178,047 630,697 1031,939 771,356 2704,654 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 80800,00,0000 01 010000,00,0000 06 2652,50,00000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 38,581 3,135 4,350 10,382 2,050 3,450 10,514 4,700 U. S. Govt, securities 16.865.000 1200.000 3.600.000 1200.000 1500.000 1300.000 1000.000 2700.0009 20.000 500.000 800.000 525.000 1620.000 Total collateral 27,996,581 1843,135 6,270,000 2004,350 2500,000 1935,38 21485,000 5100,00 01277,050 678,450 1090,514 808,000 3004,700 1/ After deducting #338,670,000 participations of other Federa lReserve Banks. 2/ After deducting $3,834,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis