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 9, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 8, Member bank reserves decreased $256 million. The principal changes reducing reserves were increases of $192 million in Money in circulation and $41 million in Foreign deposits with Federal Reserve Banks, and a decrease of $185 million in Reserve Bank credit. The principal offsetting changes were decreases of $145 million in Treasury deposits with Federal Reserve Banks and $13 million in Other deposits with Federal Reserve Banks. The decrease of $185 million in Reserve Bank credit resulted from an increase of $150 million in U. S. Government securities bought outright and decreases of $139 million in Loans, discounts and advances, $129 million in U. S. Government securities held under repurchase agreement, and $67 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $150 million in bills. Change since Member Bank Reserves Sept. 8,, Sept. 1, Sept. 9 and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,044 +150 - 990 Held under repurchase agreement " -129 - 92 Loans, discounts and advances 155 -139 - 339 Float 506 - 67 - 53 Total 24,705 -185 -1,474 Gold stock 21,809 — — - 369 Treasury currency outstanding 4,967 + 2 + 102 Money in circulation 30,115 +192 - 364 Treasury cash holdings 808 - 1 - 466 Treasury deposits with F. R. Banks 446 -145 - 128 Foreign deposits with F. R. Banks 524 + 41 - 45 Other deposits with F. R. Banks 391 - 13 + 28 Other F, R. accounts (net) 923 - 1 + 64 Member bank reserves 18,274 -256 - 830 Required reserves (estimated) 17,470 - 75 -1,261 Excess reserves (estimated) 804 -181 + 431 Daily averages for period-- Estimated excess reserves of member banks 845 + 67 + 145 Member bank borrowings at F. R. Banks 57 - 38 - 745 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,957 million, a decrease of $24 million for the week and an increase of $381 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 Sept. 8, Sept. 1, Sept. 9, 1954 1954 1953 A S S E TS Gold certificates 20,287,103 + 147,002 Redemption fund for F. R» notes 837,051 hW - 12,916 Total gold certificate reserves 21,124,154 3,190 + 134,086 F. R. notes of other Banks 109,374 20,l6l - 57,101 Other cash 327,998 33,200 + 19,944 Discounts and advances 153,879 139,306 - 336,994 Industrial loans 769 164 2,015 U. S. Government securities: Bought outright-- Bills 1,323,150 + 150,000 - 419,154 Certificates 6,599,791 +1,604,075 Notes 13,029,021 - 744,650 — - Bonds 3,092,550 - - -1,429,425 Total bought outright 24,044,512 + 150,000 - 989,154 Held under repurchase agreement - 128,600 - 92,500 Total U. S. Government securities 24,044,512 + 21,400 -1,081,654 Total loans and securities 24,199,160 - 117,742 -1,420,663 Due from foreign banks 22 » — — — Uncollected cash items 3,238,254 - 201,841 9,748 Bank premises 53,385 - 346 + 3,401 Other assets 148,486 + 7,739 - 40,368 TOTAL ASSETS 49,200,033 - 368,741 -1,370,449 L I A B I L I T I ES "Federal Reserve notes 25,708,879 + 132,830 - 465,062 Deposits: Member bank--reserve accounts 18,274,409 255,698 - 829,696 U. S. Treasurer--general account 446,219 • 144,824 - 127,318 Foreign 523,719 + 40,581 - 45,229 Other 390,664 - 13,722 + 27,272 Total deposits 19,635,011 - 373,663 - 974,971 Deferred availability cash items 2,732,392 - 134,344 + 43,273 Other liabilities and accrued dividends 15,424 + 699 3,974 TOTAL LIABILITIES 48,091,706 - 374,478 -1,400,734 C A P I T AL A C C O U N TS Capital paid in 275,066 + 194 + 13,724 Surplus (Section 7) 625,013 - - + 40,337 Surplus (Section 13b) 27,543 «•. — Other capital accounts 181,505 + 5,543 - 23,776 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,200,833 - 368,741 -1,370,449 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.6% + .3% Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + <—1 5,279 - 55 - 21,094 1,027 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 8, 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 59,893 2 347,500 16 to 90 days 93,895 449 975,650 91 days to 1 year 91 281 13,972,141 Over 1 year to 5 years — 37 6,299,060 Over 5 years to 10 years -- 1,035,304 Over 10 years — — 1,414.857 Total 153,879 !W~~ 24,044,512 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 8, 1954 H.4.l(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 1035,061 5,522,412 12a,391 1717,255 1050,958 928,827 3716,994 771,884 459,058 838,050 719,585 2282,628 Redemption fund for F. R. notes 837,051 50,745 168,251 55,025 76,761 62,359 54,983 145,700 47,696 24,838 40,150 29,176 81,367 Total gold certificate reserves 21,124,154 1085,806 5,690,663 1299,416 1794,016 1113,317 983,810 3862,694 819,580 483,896 878,200 748,761 2363,995 F.R. notes of other Banks 109,374 8,876 21,822 4,272 4,562 10,184 12,172 12,148 5,206 8,694 7,031 5,313 9,094 Other cash 327,998 22,802 61,196 20,682 40,080 14,500 30,283 56,712 18,593 8,103 11,015 11,834 32,198 Discounts and advances 153,879 14,725 39,545 10,500 16,580 12,772 5,070 23,635 6,220 2,900 7,983 4,469 9,480 Industrial loans 769 —— 676 — — —— 93 U. S. Govt, securities: Bought outright— Bills 1,323,150 73,009 337,975 80,524 113,403 77,931 67,389 231,310 55,368 32,493 57,085 51,992 144,671 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 13,0297021 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 Bonus •*-?/ i2x.t . . ± £ £ 2 z yu J j J r Total 24,044,512 1326,728 6,141,738 1463,301 2060,783 l4l6,l?4 1224,611 4203,413 1006,143 590,461 1037,376 944,805 2628,979 Held under repurchase agreement Total U. S. Government securities 24,044,512 1326,728 6,141,738 1463,301 2060,783 l4l6,l?4 1224,611 4203,413 1006,143 590,461 1037,376 944,805 2628,979 Total loans and .securities 24,199,160 1341,453 6,181,283 1474,477 2077,363 1428,946 1229,681 4227,048 1012,363 593,454 1045,359 949,274 2638,459 Due from foreign banks 22 1 1/ 6 2 2 1 1 "3 1 1 1 12 Uncollected cash items 3,238,254 253,221 643,208 188,339 283,961 291,130 227,068 471,775 142,926 94,216 182,391 158,506 301,513 Bank premises 53,385 5,963 7,271 5,173 5,062 4,569 3,933 6,327 2,853 1,005 2,457 562 8,210 Other assets 148,486 8,119 36,446 8,866 13,018 8,726 8,082 25,631 6,469 3,589 6,637 6,850 16,053 TOTAL ASSETS 49,200,833 2726,241 12,641,895 3001,227 4218,064 2871,373 2495,030 8662,338 2007,991 1192,958 2133,091 1881,101 5369,524 l/ After^#educting $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 SEPTEMBER 8, 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 25,708,879 1578,922 5,760,250 1794,708 2385,128 1767,832 1367,442 4971,063 1137,606 596,951 1007,613 737,633 2603,731 Deposits: Member bank-reserve accts. 18,274,409 792,844 5,485,833 869,011 1399,032 740,575 822,100 3016,972 656,087 440,936 868,744 896,019 2286,256 U.S.Treasurer-general acct. 446,219 18,603 68,256 36,243 38,179 27,107 36,207 67,019 19,957 28,736 39,633 36,030 30,249 Foreign 523,719 31,659 1/155,210 38,406 47,748 26,469 22,317 72,141 19,722 12,975 19,722 24,393 52,957 Other 390,664 3,151 313,396 9,657 9,678 3,934 1,603 4,961 7,660 932 4,977 866 29,849 Total deposits 19,635,011 846,257 6,022,695 953,317 1494,637 798,085 882,227 3161,093 703,426 483,579 933,076 957,308 2399,311 Deferred avail, cash items 2,732,392 232,436 543,770 170,934 235,342 245,722 194,104 371,215 122,046 82,696 148,048 134,113 251,966 Other liabilities and accrued dividends 15,424 689 5,004 741 1,617 748 767 2,310 559 470 559 567 1.393 TOTAL LIABILITIES 48,091,706 2658,304 12,331,719 2919,700 4116,724 2812,387 2444,540 8505,681 1963,637 1163,696 2089,296 1829,621 5256,401 Capital paid in 275,066 14,784 83,472 i8,74O 26,728 12,280 11,921 36,432 9,510 6,122 10,510 13,940 30,627 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 181,505 11,363 42,752 12,389 15,958 11,607 9.773 28,004 8,858 5,848 8,692 8,087 18.174 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,200,833 2726,241 12,641,895 3001,227 4218,064 2871,373 2495,030 8662,338 2007,991 1192,958 2133,091 1881,101 5369,524 Contingent liability on acceptances purchased for foreign correspondents 5,279 323 2/1,516 392 488 270 228 737 201 133 201 249 541 Industrial loan commitments 2,361 880 599 45 113 19 705 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,563,72^1633,385 5,934,057 1880,647 2475,283 1830,864 1424,178 5059,806 1174,142 631,275 1034,389 770,305 2715,394, Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 800,000 1000,000 625,000 485,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 29,570 9,235 3,840 8,182 2,800 650 4,563 300 U. S. Govt, securities 16,865,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 2700,000 920,000 500,000 800,000 525,000 1620,000 Total collateral 27,987,570 1849,235 6,270,000 2003,840 2500,000 1933,182 1485,000 5100,000 1277,800 675,650 1084,563 808,000 3000,300 l/ After deducting $368,490,000 participations of other Federal Reserve Banks. 2/ After deducting $3,763,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis