H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4,1 (For Immediate Release) October 28, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended October 27, Member bank reserves decreased $149 million. The principal changes reducing reserves were a decrease of $224 million in Reserve Bank credit and increases of $13 million in Treasury cash holdings and $9 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $85 million in Money in circulation and $13 million in Treasury deposits with Federal Reserve Banks. The decrease of $224 million in Reserve Bank credit resulted from decreases of $124 million in Float, $75 million in U. S. Government securities bought outright, and $25 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $75 million in bills. Change since Member Bank Reserves October 27, October 20, October 28, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,381 - 75 - 967 Held under repurchase agreement Loans, discounts and advances 306 - 25 - 56 Float 609 -124 + 10 Total 2 5 , 2 97 -224 -1,012 Gold stock 21,759 -- - 318 Treasury currency outstanding 4,973 -- + 99 Money in circulation 29,970 - 85 - 298 Treasury cash holdings 816 + 13 - 466 Treasury deposits with F. R. Banks 588 - 13 56 Foreign deposits with F. R. Banks 443 + 9 - 28 Other deposits with F. R. Banks 373 - 1 + 7 Other F. R. accounts (net) 950 + 1 + 55 Member bank reserves 18,888 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-- Estimated excess reserves of member banks Member bank borrowings at F. R. Banks i 3 ON - 446 1 8 , 1 58 + 24 - 638 730 -173 + 192 762 -261 + 26 72 - 27 - 220 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,043 million, a decrease of $20 million for the week and an increase of $366 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 October 27, October 20, October 28, 1954 1954 1953 A S S E TS Gold certificates 20,225,102 - 1,999 + 182,000 Redemption fund for F. R. notes 843,937 146 9,952 - - Total gold certificate reserves 21,069,039 - 2,145 + 172,048 F. R. notes of other Banks 160,448 + 17,820 - 14,684 Other cash 329,448 + 2,154 - 7,105 Discounts and advances 305,213 - 25,282 - 53,877 Industrial loans 797 + 55 - 1,864 U. S. Government securities: Bought outright-- Bills 1,660,000 75,000 396,312 - - Certificates 6,599,791 + 748,250 -- Notes 13,029,021 744,650 - - - Bonds 3,092,550 573,600 — - — Total bought outright 24,381,362 - 75,000 - 965,312 Held under repurchase agreement — — — — Total U. S. Government securities 24,381,362 75,000 966,312 - - Total loans and securities 24,687,372 100,227 -1,022,053 Due from foreign banks 22 — «• * mm Uncollected cash items 3,776,253 - 463,030* + 58,968 Bank premises 54,215 - 93 + 4,179 Other assets 165,982 6,941 45,170 - TOTAL ASSETS 50,242,779 538,580* 853,817 - - L I A B I L I T I ES Federal Reserve notes 25,613,678 - 52,827 - 393,921 Deposits: Member bank--reserve accounts 18,888,249 - 149,148 - 446,143 U. S. Treasurer--general account 588,197 - 13,157 - 55,369 Foreign 443,004 + 9,177 27,966 - Other 372,917 - 1,357 + 7,245 Total deposits 20,292,367 154,485 522,233 - - Deferred availability cash items 3,166,853 - 338,972 + 48,963 Other liabilities and accrued dividends 20,384 + 1,907* - 1,765 TOTAL LIABILITIES 49,093,282 544,377* 868,951 - - C A P I T AL A C C O U N TS Capital paid in 276,871 + 192 + 14,169 Surplus (Section 7) 625,013 — — + 40,337 Surplus (Section 13b) 27,543 - - Other capital accounts 220,070 + 5,605 - 39,372 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,242,779 538,580* 853,817 - - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9* + ..22$$ + 1.3# Contingent liability on acceptances purchased for foreign correspondents 12,910 + 1,526 - 9,829 Industrial loan commitments 22,,009988 - 6655 • 11,,334455 ^October 20 figures revised MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 27, 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 139,032 2 166,000 16 to 90 days 46,137 168 8,776,550 91 days to 1 year 120,044 595 6,689,591 Over 1 year to 5 years 32 6,320,750 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.stlo T u o is t fe a d. l or g/ 305,213 797 24,381,362 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THfc FEDERAL RESERVE BAMS ON OCTOBER 27, 1954 H.4.1(b) (in thousands of dollars) A S S E TS Total Boston New York Phila. 'Cl^Ve, Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 2 0 , 2 2 5 , 1 02 1029,150 5,375,664 1194,499 1717,9# 1143,170 929,925 3635,249 817,622 4 2 6 , 6 71 821,787 797,653 2335,740 Redemption fund for F. R. notes 843,937 50,013 175,366 55,590 75,593 66,754 54,291 144,612 47,365 24,713 39,934 28,926 8 0 , 7 80 Total gold certificate reserves 21,069,039 1079,163 5,551,030 1250,089 1793,565 1209,924 984,216 3779,861 864,987 451,384 861,721 826,579 2416,520 F.R. notes of other Banks 160,448 12,373 40,254 6,247 6 , 8 62 10,452 21,491 18,572 8 , 5 46 4,327 8 , 4 78 9 , 0 16 13,830 Other cash 329,448 22,443 66,637 17,817 34,069 16,868 30,802 58,106 18,637 8,145 11,106 11,712 33,106 Discounts and advances 305,213 14,695 6 9 , 7 00 27,580 24,975 18,745 14,555 61,296 8 , 2 30 20,795 14,642 8,984 2 1 , 0 16 Industrial loans 797 717 80 U. S. Govt, securities: Bought outright— Bills 1,660,000 91,596 424,017 101,024 142,273 97,771 84,545 290,198 69,463 40,765 71,619 6 5 , 2 28 181,501 Certificates 6,599,791 364,163 1 , 6 8 5 , 7 98 401,650 565,648 388,715 336,133 1153,763 2 7 6 , 1 68 162,071 284,742 259,332 7 2 1 , 6 08 Notes 1 3 , 0 2 9 , 0 21 718,915 3,328,029 792,921 1116,679 767,383 663,582 2277,707 545,199 319,953 562,124 511,962 1424,567 Bonds J9 yy v a. f v, vtj. Total 24,381,362 1345,315 6 , 2 2 7 , 7 80 1483,801 2089,653 1436,014 1241,767 4262,301 1020,238 598,733 1051,910 958,041 2665,809 Held under repurchase agreement Total U. 8. Government securities 24,381,362 1345,315 6,227,780 1483,801 2089,653 1436,014 1241,767 4262,301 1020,238 598,733 1051,910 958,041 2665,809 Total loans and securities 2 4 , 6 8 7 , 3 72 1360,010 6 , 2 9 7 , 4 80 1512,098 2114,628 1454,759 1256,322 4323,597 1028,468 6 1 9 , 6 08 1066,552 967,025 2686,825 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 3,776,253 284,335 713,037 240,385 354,542 304,300 257,640 612,653 168,093 111,459 197,364 170,588 361,857 Bank premises 54,215 5 , 8 96 7,275 5 , 1 62 5 , 0 83 4 , 5 30 3,906 6 , 3 41 2 , 8 48 1 , 0 22 2 , 4 58 1,088 8 , 6 06 Other assets 165,982 8,967 41,864 9,741 14,432 9,675 9,043 28,619 7 , 1 28 4,068 7,359 7,239 17,847 TOTAL ASSETS 50,242,779 2773,188 12,717,583 3041,541 4323,183 3010,509 2563,421 8827,752 2098,708 1200,014 2155,039 1993,248 5538,593 l/ 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 FEDERAL RESERVE BANKS ON OCTOBER 27, 1954 8.4.1(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 25,613,678 1569,429 5,726,793 1782,250 2370,160 1827,294 1354,942 4958,941 1149,825 582,801 1001,556 731,435 2558,25a Deposits: Member bank-reserve accts. 18,888,249 807,793 5,558,579 8 8 8 , 7 88 1465,332 7 9 5 , 7 88 865,385 3054,556 699,135 453,120 892,215 980,739 2426,819 U.S.Treasurer-general acct 588,197 37,710 114,167 45,170 44,022 38,550 44,976 91,085 36,065 2 0 , 6 56 36,301 36,737 42,759 Foreign 443,004 26,413 1/135,555 32,042 39,836 22,083 18,619 60,187 16,454 10,825 16,454 20,351 44,185 Other 372,917 4,321 302,958 9,229 6,337 3,002 797 3,724 7 , 6 60 2,178 1,754 507 30,450 Total deposits 20,292,367 8 7 6 , 2 37 6,111,259 975,229 1555,527 859,423 929,777 3209,552 759,314 486,779 946,724 1038,334 2544,212 Deferred avail, cash items 3,166,853 256,839 551,490 199,232 290,949 261,529 225,533 4 9 2 , 2 91 142,869 99,574 160,511 169,511 316,525 Other liabilities and accrued dividends 20,384 821 6,962 993 1,993 923 812 2 , 9 62 713 705 755 921 1,824 TOTAL LIABILITIES 49,093,282 2 7 0 3 , 3 26 12,396,504 2957,704 4218,629 2949,169 2511,064 8663,746 2052,721 1 1 6 9 , 8 59 2109,546 1940,201 5420,813 Capital paid in 2 7 6 , 8 71 14,789 83,959 1 8 , 7 16 2 6 , 7 58 12,526 12,041 36,547 9,740 6,149 1 0 , 6 16 14,125 30,905 Surplus (Section 7) 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 1 6 , 2 19 2 3 , 4 56 28,146 6 2 , 1 82 Surplus (Section ijb) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,1*0 Other capital accounts 220,070 13,283 53,168 14,723 19.142 13,715 11,520 35,238 10,261 6,714 10,284 9,469 22,553 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,242,779 2 7 7 3 , 1 88 12,717,583 3041,541 4323,183 3010,509 2563,421 8827,752 2098,708 1 2 0 0 , 0 14 2155,039 1993,248 5538/593 Contingent liability on acceptances purchased for foreign correspondents 12,910 787 2/3,751 955 1,187 658 555 1,793 490 322 490 606 1 , 3 16 Industrial loan commitments 2 , 0 98 648 598 39 108 18 687 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2 6 , 5 6 1 , 9 80 1627,399 5,912,999 1859,242 2477,415 1877,138 1423,344 5055,439 1207,263 620,557 1037,250 773,590 2690,344 Collateral for F.R. notes: Gold certificates 1 1 , 0 9 3 , 0 00 6 4 0 , 0 00 2 , 6 7 0 , 0 00 8 0 08,0000,0 01000 0100,0000,0 06020 56,2050,0000 485,000 2 4 0 0 , 0 00 355,000 175,000 280,000 283,000 1380,000 Eligible paper 53,738 3,410 1 3 , 8 90 — 9,310 1,200 16,170 7,612 --- 2,146 U. S. Govt, securities 16,865,000 1200,000 3 , 6 0 0 , 0 00 1 2 0 0 , 0 00 1500,000 1300,000 1000,000 2700,000 920,000 500,000 800,000 525.000 1620,000 Total collateral 28^011^738 1 8 4 3 , 4 10 6 , 2 7 0 , 0 00 2 0 1 3 , 8 90 2 5 0 0 , 0 00 1934,310 1485,000 5100,000 1276,200 691,170 1087,612 808,000 3002,146 1/ After deducting $307,430,000 participations of other Federal Reserve Banks. 2/ After deducting $9,159,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis