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 30, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 29# Member bank reserves decreased $48 million. The principal changes reducing reserves were increases of $254 million in Treasury deposits with Federal Reserve Banks, $34 million in Money in circulation, and $10 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $206 million in Reserve Bank credit and a decrease of $35 million in Foreign deposits with Federal Reserve Banks. The increase of $206 million in Reserve Bank credit resulted from increases of $275 million in U. S. Government securities bought outright and $129 million in Loans, discounts and advances, and a decrease of $198 million in Float. Holdings of U. S. Government securities bought outright reflected an increase of $275 million in bills. Change since Member Bank Reserves Sept. 29, Sept. 22, Sept. 30, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright 24,045 +275 -1,190 Held under repurchase agreement Loans, discounts and advances 300 +129 - 32 Float 511 -198 - 174 Total 24,857 +206 -1,395 Gold stock 21,810 - 318 Treasury currency outstanding 4,971 + 3 + 99 Money in circulation 29,922 + 34 - 353 Treasury cash holdings 796 - 5 - 487 Treasury deposits with F. R. Banks 769 +254 + 127 Foreign deposits with F. R. Banks 489 - 35 - 23 Other deposits with F. R. Banks 398 + 10 + 46 Other F. R. accounts (net) 932 - 2 + 52 Member bank reserves 18,331 - 48 - 978 Required reserves (estimated) 17,640 + 38 -1,176 Excess reserves (estimated) 691 - 86 + 198 Daily averages for period— Estimated excess reserves of member banks 632 -351 + 68 Member bank borrowings at F. R. Banks 78 + 42 - 240 U. S. Government securities held n custody by the Federal Reserve Banks for foreign account were $2,995 million, an increase of $2 million for the week and an increase of $354 million from the coip arable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Sept. 29, Sept. 22, Sept. 30, 1954 A S S E TS Gold certificates 20,287,101 + 10,001 + 215,997 Redemption fund for F. R. notes 842,262 - 4,790 - 20,101 Total gold certificate reserves 21,129,363 4" 5,211 + 195,896 F. R. notes of other Banks 136,982 - 10,701 - 61,260 Other cash 349,737 - 37 + 5,627 Discounts and advances 298,899 + 128,960 30,448 Industrial loans 870 - 6k 2,098 U. S. Government securities: Bought outright— Bills 1,324,250 + 275,000 - 619,062 Certificates 6,599,791 — + 748,250 Notes 13,029,021 -- - 744,650 Bonds 3,092,550 -- - 573,600 Total bought outright 24,045,612 + 275,000 -1,189,062 Held under repurchase agreement Total U. S. Government securities 24,045,612 + 275,000 -1,189,062 Total loans and securities 24,345,381 + 403,896 -1,221,608 Due from foreign hanks " 22 -- Uncollected cash items 3,624,895 - 504,429 - 218,983 Bank premises 53,545 - in + 3,504 Other assets 158,619 + 7,513 - 34,190 TOTAL ASSETS 49,798,544 - 98,658 -1,331,014 L I A B I L I T I ES Federal Reserve notes 25,553,572 + 20,968 - 479,741 Deposits: Member hank--reserve accounts 18,330,877 48,285 - 977,658 U. S. Treasurer--general account 769,192 + 254,686 + 126,788 Foreign 489,198 - 35,084 - 23,057 Other 398,344 + 10,294 + 46,713 Total deposits 19,987,611 + 181,611 - 827,214 Deferred availability cash items 3,113,558 - 306,727 - 45,110 Other liabilities and accrued dividends 17,719 + 106 2,974 TOTAL LIABILITIES 48,672,460 - 104,042 -1,355,039 C A P I T AL A C C O U N TS Capital paid in 275,842 + 33 + 14,292 Surplus (Section 7) 625,013 — - + 40,337 Surplus (Section 13b) 27,543 — — Other capital accounts 197,686 + 5,351 30,604 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,790,544 98,658 -1,331,014 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.4# .2% + 1.7# - Contingent liability on acceptances purchased for foreign correspondents 6,278 + 797 - 19,977 Industrial loan commitments 2,240 + 60 1,102 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 29, 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 190,911 571 363,700 l6 to 90 days 107,984 11 8,243,100 91 days to 1 year 4 252 6,689,591 Over 1 year to 5 years -- 36 6,320,750 Over 5 years to 10 years -- -- l,013,6l4 Over 10 years -•* — 1,414,857 Digitized for FRATSEoRt al 298,899 870 24,045,612 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 29, 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 20,287,101 1015,983 5,599,783 1216,922 1751,158 1093,112 936,686 3596,425 803,476 421,272 828,800 786,755 2236,729 Redemption fund for F. R. notes 842,262 50,523 167,297 54,590 76,395 70,580 54,765 145,354 47.594 24,799 40,08l 29,094 81.190 Total gold certificate ... reserves 21,129,363 1066,506 5,767,080 1271,512 1827,553 1163,692 991,451 3741,779 851,070 446,071 868,881 815,849 2317,919 F.R. notes of other Banks 136,982 9,137 31,839 6,444 6,703 9,964 14,846 16,272 6,907 7,460 5,805 5,905 15,700 Other cash 349,737 23,826 64,567 21,665 36,765 17,510 32,598 59,388 18,112 9,546 10,887 13,071 41,802 Discounts and advances 298,899 11,584 38,880 39,590 38,34v 12,544 5,925 83,625 13,230 16,575 15,952 6,658 15,996 Industrial loans 870 — — 787 — — — — — — — — — — 83 U. S. Govt, securities: Bought outright— Bills 1,324,250 73,070 338,256 80,591 113,497 77,995 67,445 231,503 55,414 32,520 57,133 52,035 144,791 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 24,045,612 1326,789 6,142,019 1463,368 2060,877 1416,238 1224,667 4203,606 1006,189 590,488 1037,424 944,848 2629,099 Held under repurchase agreement Total U. S. Government securities 24,045,612 1326,789 6,142,019 1463,368 2060,877 1416,238 1224,667 4203,606 1006,189 590,488 1037,424 944,848 2629,099 Total loans and securities 24,345,381 1338,373 6,180,899 1503,745 2099,217 1428,782 1230,592 4287,231 1019,419 607,146 1053,376 951,506 2645,095 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 11 1 2 Uncollected cash items 3,624,895 282,170 671,399 227,118 363,327 306,291 254,551 586,317 159,519 108,903 186,208 135,155 343,937 Bank premises 53,545 5,929 7,276 5,168 5,036 4,549 3,920 6,345 2,849 1,019 2,458 562 8,434 Other asseta 158,619 8,622 39,479 9,387 13,822 9,394 8,521 27,424 6,726 3,815 7,083 7,372 16,974 ""TOTAL ASSETS 49,798,544 2734,564 12,762,545 3045,041 4352,425 2940,183 2536,480 8724,759 2064,603 1183,961 2134,699 1929,421 5389,863 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis _» 4 1

STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON SEPTEMBER 29, 1954 5.4.1(c) (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Rans.Cy. Dallas SanFran. L I A B I L I T I ES Federal Reserve notes 25,553,572 1565,851 5,727,312 1775,540 2370,329 1788,615 1361,176 4943,762 1138,773 586,549 1004,543 733,576 2557,546 Deposits: Member bank-reserve accts. 18,330,877 769,853 5,571,229 880,444 1406,967 757,865 839,507 2925,807 674,365 425,734 859,978 930,864 2288,264 U.S.Treasurer-general acct 769,192 39,338 152,802 62,670 107,741 41,910 35,639 128,921 44,926 31,826 46,411 30,299 46,709 Foreign 489,198 28,975 1/151,929 35,150 43,700 24,225 20,425 66,025 18,050 11,875 18,050 22,325 48,469 Other 398.344 4,176 323,813 10,066 8.141 2,834 1.494 4,575 6,978 1,111 4,892 656 29,608 Total deposits 19,987,611 842,342 6,199,773 988,330 1566,549 826,834 897,065 3125,328 744,319 470,546 929,331 984,144 2413,050 Deferred avail, cash items 3,113,558 256,861 515,190 197,813 311,052 263,769 226,191 493,291 135,859 96,723 155,657 158,733 302,419 Other liabilities and accrued dividends 17,719 750 5,597 885 1,814 906 835 2,652 641 495 640 862 1,642 TOTAL LIABILITIES 48,672,460 2665,804 12,447,872 2962,568 4249,744 2880,124 2485,267 8565,033 2019,5921 154,313 2090,171 1877,315 5274,657 Capital paid in 275,842 14,789 83,589 18,712 26,738 12,471 11,954 36,481 9,570 6,140 10,596 13,981 30,821 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 197,686 12,181 47,132 13,363 17,289 12,489 10,463 31,024 9,455 6,216 9,339 8,672 20,063 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,798,544 2734,564 12,762,545 3045,041 4352,425 2940,183 2536,480 8724,759 2064,603 1183,961 2134,699 1929,421 5389,863 Contingent liability on acceptances purchased for foreign correspondents 6,278 384 2/1,805 466 580 321 271 876 239 158 239 296 643 Industrial loan commitments 2,240 768 599 39 110 19 705 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,557,599 1628,910 5,921,826 1866,735 2477,861 1845,562 1417,120 5057,396 1199,586 624,908 1031,231 772,544 2713,920 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 55,846 3,959 9,340 6,169 8,480 13,450 11,202 3,246 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 28,013,846 1843,959 6,270,000 2009,340 2500,000 1931,169 1485,000 5100,000 1283,480 688,450 1091,202 808,000 3003,246 l/ After deducting $337,250,000 participations of other Federal Reserve Banks. 2/ After deducting $4,473,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis