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 16, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserve and Related Items During the week ended September 15, Member bank reserves increased $368 million. The principal changes supplying reserves were an increase of $315 million in Reserve Bank credit and decreases of $117 million in Money in circulation, $18 million in Foreign deposits with Federal Reserve Banks, and $11 million in Treasury cash holdings. The principal offsetting changes were increases of $64 million in Treasury deposits with Federal Reserve Banks, $18 million in Other deposits with Federal Reserve Banks, and $12 million in Other F. R. accounts (net). The increase of $315 million in Reserve Bank credit resulted from increases of $328 million in Float and $44 million in Loans, discounts and advances, and a decrease of $57 million in U. S. Government securities bought outright. The decrease in U. S. Government securities bought outright was entirely in bills. Change since Member Bank Reserves Sept. 15, Sept. 8, Sept. 16 and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 23,987 - 57 -1,097 Held under repurchase agreement - - - — - 123 Loans, discounts and advances 199 + 44 - 114 Float 834 +328 - 109 Total 25,02.0 +315 -1,444 Gold stock 21,809 -- - 369 Treasury currency outstanding 4,967 — + 99 Money in circulation 29,998 -117 - 337 Treasury cash holdings 797 - 11 - 481 Treasury deposits with F. R. Banks 510 + 64 + 154 Foreign deposits with F. R. Banks 506 - 18 1 Other deposits with F. R. Banks 409 + 18 + 28 Other F. R. accounts (net) 935 + 12 + 53 Member bank reserves 18,642 +368 -1,129 Required reserves (estimated) 17,544 + 74 -1,341 Excess reserves (estimated) 1,098 +294 + 212 Daily averages for period-- Estimated excess reserves of member banks 870 + 25 + 115 Member bank borrowings at F. R. Banks 84 + 27 - 457 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,982 million, an increase of $25 million for the week and an increase of $380 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, 15, Sept. 8, Sept. 16, 1954 1954 1953 A S S E TS Gold certificates 20,277,100 10,003 + 156,997 Redemption fund for F. R. notes 847,052 + 10,001 - 20,970 Total gold certificate reserves 21,124,152 - 2 + 136,027 F. R. notes of other Banks 141,080 + 31,706 - 51,713 Other cash 346,038 + 18,040 + 6,876 Discounts and advances 198,009 + 44,130 - 112,758 Industrial loans 973 + 204 1,684 U. S. Government securities: Bought outright— Bills 1,266,150 57,000 - 526,154 Certificates 6,599,791 + 748,250 Notes 13,029,021 — - 744,650 Bonds 3,092,550 - - - 573,600 Total bought outright 23,987,512 - 57,000 -1,096,154 Held under repurchase agreement -- -- - 123,350 Total U. S. Government securities 23,987,512 - 57,000 -1,219,504 Total loans and securities 24,186,494 - 12,666 -1,333,946 Due from foreign banks 22 mm Uncollected cash items 4,777,814 +1,539,560 - 72,200 Bank premises 53,400 + 15 + 3,294 Other assets 143,733 - 4,753 - 31,330 TOTAL ASSETS 50,772,733 +1,571,900 -1,342,992 L I A B I L I T I ES Federal Reserve notes 25,630,101 - 78,778 - 456,903 Deposits: Member bank--reserve accounts 18,641,889 + 367,480 -1,129,273 U. S. Treasurer--general account 509,566 + 63,347 + 153,576 Foreign 506,171 - 17,548 977 Other 408,893 + 18,229 + 28,201 Total deposits 20,066,519 + 431,508 - 948,473 Deferred availability cash items 3,943,940 +1,211,548 + 37,121 Other liabilities and accrued dividends 17,128 + 1,704 3,155 TOTAL LIABILITIES 49,657,638 +1,565,902 -1,371,410 C A P I T AL A C C O U N TS Capital paid in ' 275,628 + 562 + 14,232 Surplus (Section 7) 625,013 — ** + 40,337 Surplus (Section 13b) 27,543 • — Other capital accounts 186,861 + 5,356 - 26,151 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,772,733 +1,571,900 -1,342,992 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.256 - + 1,656 Contingent liability on acceptances purchased for foreign correspondents 5,585 + 306 - 20,067 Industrial loan commitments 2,156 - 205 1,346 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 15, 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 90,080 ffirf " 344,000 16 to 90 days 107,873 18 921,250 91 days to 1 year 56 272 13,972,l4l Over 1 year to 5 years - 36 6,320,750 Over 5 years to 10 years __ __ 1 013 6l4 Over 10 years - _ - Digitized for FRTAoStEaRl 198,009 973 23,907,512 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 15, 195% 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 20,277,100 1010,793 5,507,966 1221,218 1725,153 1066,501 929,596 3739,061 794,909 455,469 857,148 719,485 2249,801 Redemption fund for F. R. notes 847,052 50,745 168,251 55,025 76,761 72,360 54,983 145,700 47,696 24,838 40,150 29,176 81,367 Total gold certificate reserves 21,124,152 1061,538 5,676,217 1276,243 1801,914 1138,861 984,579 3884,761 842,605 480,307 897,298 748,661 2331,168 F.R. notes of other Banks 141,080 9,222 29,524 6,308 6,262 9,631 16,809 16,716 6,798 10,118 7,471 6,538 15,683 Other cash 346,038 23,919 62,850 22,672 37,409 15,491 31,520 59,907 18,691 9,152 11,349 12,649 40,429 Discounts and advances 198,009 10,980 39,460 11,500 24,735 12,095 6,815 42,130 5,665 8,025 15,930 6,764 13,910 Industrial loans 973 880 93 U S. Govt, securities: Bought outright— Bills 1,266,150 69,864 323,415 77,055 108,518 74,574 64,486 221,346 52,982 31,093 54,626 49,752 138,439 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 Held under repurchase agreement Total U. S. Government securities 23,987,512 1323,583 6,127,178 1459,832 2055,898 1412,817 1221,708 4193,449 1003,757 589,061 1034,91? 942,565 2622,747 Total loans and securities 24,186,494 1334,563 6,166,638 1472,212 2080,633 1424,912 1228,523 4235,579 1009,422 597,179 1050,847 949,329 2636,657 Due from foreign banks 22 l l /6 2 2 1 1 3 1 11 1 2 Uncollected cash items 4,777,814 353,830 916,180 272,492 444,828 409,307 345,682 777,950 203,665 153,559 232,987 226,127 441,207 Bank premises 53,400 5,963 7,271 5,173 5,062 4,571 3,933 6,327 2,853 1,005 2,457 562 8,223 Other assets 143,733 7,833 35,384 8,519 12,627 8,391 7,793 24,869 6,131 3,463 6,435 6,807 15,48l TOTAL ASSETS 50,772,733 2796,869 12,894,070 3063,621 4388,737 3011,165 2618,840 9006,112 2090,166 1254,784 2208,845 1950,674 5488,850 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 15, 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 25,630,101 157^,401 5,745,186 1784,651 2383,914 1778,209 1358,068 4965,635 1135,385 593,605 1001,074 730,676 2579,297 Deposits: Member hank-reserve accts. 18,641,889 789,494 5,497,200 895,079 1441,454 768,611 859,250 3087,710 686,003 455,848 943,990 914,842 2302,408 U.S.Treasurer-general acct. 509,566 21,805 157,568 37,211 31,208 38,304 28,586 59,343 25,775 33,140 15,414 31,478 29,734 Foreign 506,171 29,829 1/158,962 36,186 44,988 24,939 21,027 67,971 18,582 12,225 18,582 22,983 49,897 Other 408,893 3,229 325,564 " t ... r,' f ,t 1 L Total deposits 20,066,519 844,357 6,139,294 978,537 1527,238 834,916 910,353 3218,193 741,373 501,804 980,660 970,041 2419,753 Deferred avail, cash items 3,943,940 309,131 692,373 217,747 374,036 337,904 298,535 662,111 168,277 129,239 182,505 197,547 374,535 Other liabilities and accrued dividends 17,128 743 5,555 819 1,743 685 1,148 2,501 535 759 550 734 1,356 TOTAL LIABILITIES 49,657,688 2728,632 12,582,408 2981,754 4286,931 2951,714 2568,104 8848,440 2045,570 1225,407 2164,789 1898,998 5374,941 Capital paid in 275,628 14,784 83,494 18,755 26,736 12,469 11,938 36,435 9,574 6,122 10,573 13,940 30,808 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 186,86l 11,663 44,216 12,714 l6,4l6 11,883 10,002 29,016 9,036 5,963 8,890 8,283 18.779 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,772,733 2796,869 12,894,070 3063,621 4388,737 3011,165 2618,840 9006,112 2090,166 1254,784 2208,845 1950,674 5488,850 Contingent liability on acceptances purchased for foreign correspondents 5,585 342 2/1,609 4l4 515 286 241 778 213 140 213 263 571 Industrial loan commitments 2,156 675 599 45 113 19 705 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,645,867 1633,807 5,952,152 1880,431 2486,239 1848,903 1427,612 5060,644 1182,918 629,194 1032,364 771,417 2740,186 Collateral for F.R. notes: Gold certificates 11,093,000 640,000 2,670,000 880000,,000000 11000000,,000000 662255,,000000 448855,,000000 22440000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 37,260 4,575 3,730 — 6,740 — — 1,675 5,4oo 11,940 3,200 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 27,995,260 1844,575 6,270,000 2003,730 2500,000 1931,740 1485,000 5100,000 1276,675 680,400 1091,940 808,000 3003,200 l/ After deducting $347,190,000 participations of other Federal Reserve Banks. 2/ After deducting $3,976,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis