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 23# 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 22, Member bank reserves decreased $263 million. The principal changes reducing reserves were a decrease of $369 million in Reserve Bank credit and an increase of $18 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $110 million in Money in circulation and $21 million in Other deposits with Federal Reserve Banks. The decrease of $369 million in Reserve Bank credit resulted from decreases of $217 million in U. S. Government securities bought outright, $125 million in Float, and $28 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $217 million in bills. Change since Member Bank Reserves Sept. 22, Sept. 15, Sept. 23, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright 23,770 -217 -1,415 Held under repurchase agreement Loans, discounts and advances 171 - 28 - 60 Float 709 -125 - 104 Total 24,651 -369 -1> 577 Gold stock 21,810 + 1 - 369 Treasury currency outstanding 4,968 + 1 + 99 Money in circulation 29,888 -110 - 322 Treasury cash holdings 801 + 4 * 476 Treasury deposits with F. R. Banks 515 + 5 - io4 Foreign deposits with F. R. Banks 524 + 18 - 19 Other deposits with F. R. Banks 388 - 21 + 129 Other F. R. accounts (net) 934 - 1 + 53 Member bank reserves 18,379 -263 -1,107 Required reserves (estimated) 17,602 + 58 -1,266 Excess reserves (estimated) 777 -321 + 159 Daily averages for period--* Estimated excess reserves of member banks 983 +113 + 66 Member bank borrowings at F. R. Banks 36 - 48 - 191 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,993 million, an increase of $11 million for the week and an increase of $372 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. 22, Sept. 15> Sept. 23, 1954 1954 1953 A S S E TS Gold certificates 20,277,100 + 155,999 Redemption fund for F. R. notes 847,052 - 19,128 — — Total gold certificate reserves 21,124,152 + 136,871 — — F. R. notes of other Banks 147,683 + 6,603 - 59,837 Other cash 349,774 + 3,736 + 1,596 Discounts and advances 169,939 28,070 - 57,949 - Industrial loans 934 - 39 2,04l U. S. Government securities: Bought outright»- Bills 1,049,250 216,900 - 844,062 Certificates 6,599,791 — + 748,250 Notes 13,029,021 - 744,650 - - Bonds. 3,092,550 - 573,600 - - Total bought outright 23,770,612 216,900 -1,414,062 Held under repurchase agreement Total U. S. Government securities 23,770,612 216,900 -1,414,062 - Total loans and securities 23,941,485 - 245,009 -1,474,052 Due from foreign banks 22 —— -- Uncollected cash items 4,129,324 648,490 - 11,233 Bank premises 53,656 + 256 + 3,567 Other assets 151,106 + 7,373 - 32,427 TOTAL ASSETS 49,897,202 875,531 -1,435,515 - L I A B I L I T I ES Federal Reserve notes 25,532,604 97,497 - 450,211 - Deposits: Member bank—reserve accounts 18,379,162 262,727 -1,106,403 U. S. Treasurer—general account 514,506 + 4,940 - 104,384 Foreign 524,282 + 18,111 18,898 Other 388,050 20,843 + 128,716 - Total deposits 19,806,000 260,519 -1,100,969 - Deferred availability cash items 3,420,285 523,655 + 92,385 - Other liabilities and accrued dividends 17,613 + 485 3,066 TOTAL LIABILITIES 48,776,502 881,186 -l,46l,86l - C A P I T AL A C C O U N TS Capital paid in 275,809 + 181 + 14,340 Surplus (Section 7) 625,013 + 40,337 - — Surplus (Section 13b) 27,543 — — — - Other capital accounts 192,335 + 5,474 - 28,331 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,897,202 875,531 -1,435,515 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.6# + .4# + 1.8# Contingent liability on acceptances purchased for foreign correspondents 5,481 104 - 19,862 Industrial loan commitments 2,180 + 24 1,040 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 22, 195% (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 62,092 525 315,750 16 to 90 days 107,843 12 8,016,050 91 days to 1 year 4 262 6,689,591 Over 1 year to 5 years 36 6,320,750 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for F T RA o S t E a R l 169,939 1W 23,770,612 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 22, 1954 H.4.l(b) (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. A S S E TS Gold certificates 20,277,100 1056,681 5,333,666 1228,89% 1731,641 1093,679 952,066 3659,503 795,55% 46o,6l4 855,840 804,214 2304,748 Redemption fund for 50,745 54,983 145,700 47,696 F. R. notes 847,052 168.251 55.025 76,761 72,360 24,838 40,150 29,176 81,367 Total gold certificate reserves 21,124,152 1107,426 5,501,917 1283,919 1808,402 1166,039 1007,049 3805,203 843,250 485,452 895,990 833,390 2386,115 F.R. notes of other Banks 147,683 10,201 33,234 6,180 5,883 10,414 18,601 15,698 6,000 7,506 8,361 8,423 17,182 Other cash 349,774 22,472 64,810 21,314 38,555 16,759 30,934 60,080 18,877 8,431 11,759 13,208 42,575 Discounts and advances 169,939 8,755 33,055 9,420 16,260 18,577 12,715 28,370 4,340 5,225 12,752 5,264 15,206 Industrial loans 934 350 — — — — — — — 84 U. S. Govt, securities: Bought outright— Bills 1,049,250 57,896 268,012 63,855 89,928 61,799 53,439 183,428 43,906 25,767 45,268 41,229 114,723 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 3,092,550 170,641 709,93b loo,20b 2b>,U>j iOZ,14) >4U,OJj , 4-VU j J-J J Total 23,770,612 1311,615 6,071,775 1446,632 2037,308 1400,042 1210,661 4155,531 994,681 583,735 1025,559 934,042 2599,031 Held under repurchase agreement Total U. S. Government securities 23,770,612 1311,615 6,071,775 1446,632 2037,308 1400,042 1210,661 4155,531 994,681 583,735 1025,559 934,042 2599,031 Total loans and securities 23,941,485 1320,370 6,104,830 1456,902 2053,568 1418,619 1223,376 4183,901 999,021 589,044 1038,311 939,306 26l4,237 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,129,324 318,743 7497340 264,699 374,159 349,048 293,103 621,667 175,064 123,360 221,049 211,437 427,655 Bank premises 53^656 5,963 7,276 5,173 5,052 4,571 3,933 6,327 2,853 1,027 2,458 562 8,46i Other assets 151,106 8,260 37,191 8,979 13,126 8,811 8,185 26,240 6,438 3,664 6,762 7,086 16,364 TOTAL ASSETS 49,897,202 2793,436 12,498,604 3047,168 4298,747 2974,262 2585,182 8719,119 2051,504 1218,485 2184,691 2013,413 5512,591 1/ 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 FEDERA LRESERVE BANKS ON SEPTEMBE 2R2, 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 25,532,604 1569,063 5,730,090 1778,979 2374,392 1774,834 1352,705 4955,270 1132,742 590,562 997,237 724,880 2551,850 Deposits: Member bank-reserve accts. 18,379,162 810,308 5,303,496 901,372 1403,048 773,741 864,043 2915,861 677,731 444,291 915,184 1008,035 2362,052 U.S.Treasurer-general acct 514,506 33,532 93,214 28,340 36,991 38,139 38,460 87,234 23,015 29,687 37,052 24,560 44,282 Foreign 524,282 31,293 1/160,033 37,962 47,196 26,163 22,059 71,307 19,494 12,825 19,494 24,111 52,345 Other 388,050 3,343 312,672 9,439 9,548 3,371 490 4,039 7,155 841 2,412 552 34,188 Total deposits 19,806,000 878,476 5,869,415 977,113 1496,783 841,414 925,052 3078,441 727,395 487,644 974,142 1057,258 2492,867 Deferred avail, cash items 3,420,285 276,670 579,608 208,085 323,670 297,470 255,610 524,236 145,982 110,184 168,407 178,591 351,772 Other liabilities and accrued dividends 17,613 722 6,314 799 1,634 786 838 2,467 _571 603 807 1,490 TOTAL LIABILITIES 48,776,502 2724,931 12,185,427 2964,976 4196,479 2914,504 2534,205 8560,414 2006,697 1188,965 2140,389 1961,536 5397,979 Capital paid in 275,809 14,793 83,552 18,757 26,742 12,471 11,941 36,465 9,575 6,139 10,588 13,94? 30,839 62,182 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 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 192,335 11,922 45.673 13,037 16,872 12,188 10,240 30,019 9,246 6,089 9,121 8,477 19,451 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,897,202 2793,436 12,498,604 3047,168 4298,747 2974,262 2585,182 8719,119 2051,504 1218,485 2184,691 2013,413 5512,591 Contingent liability on acceptances purchased for foreign correspondents 5,481 335 2/1,576 407 506 280 236 765 209 138 209 259 561 Industrial loan commitments 2,180 705 599 39 113 19 705 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,565,598 1622,326 5,927,025 1872,022 2482,062 1841,059 1418,84? 5059,067 1199,402 625,880 1028,715 767,084 2722,109 Collateral for F.R. notes: 355,000 175,000 280,000 283,000 1380,000 Gold certificates 11,093,000 640,000 2,670,000 8008,0000,0000 1 1000000,,000000 6 62255,,000000 485,000 2400,000 350 2,600 8,762 --- 4,496 Eligible paper 33,430 2,350 1,650 — 13,222 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 27^991'430 1842[350 6,270^000 2001,650 2500,000 1938,222 1485,000 5100,000 1275,350 677,600 1088,762 808,000 3004,4-96 Total collateral l/ After deducting $364,230,000 participations of other Federal Reserve Banks. 2/ After deducting $3,905,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis