H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) November 12, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended November 10, Member bank reserves increased $412 million. The principal changes supplying reserves were decreases of $35^ million in Treasury deposits with Federal Reserve Banks and $167 million in Other deposits with Federal Reserve Banks, and an increase of $86 million in Reserve Bank credit. The principal offsetting changes were an increase of $140 million in Money in circulation and a decrease of $50 million in Gold stock. The increase of $86 million in Reserve Bank credit resulted from increases of $238 million in Float and $100 million in U. S. Government securities bought outright, and decreases of $226 million in Loans, discounts and advances and $25 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected an increase of $100 million in bills. Change since Member Bank Reserves Nov. 10, Nov. 3, Nov. 11, and Related Items 1954 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,745 +100 -213 Held under repurchase agreement — - 25 -165 Loans, discounts and advances 294 -226 - 73 Float 542 +238 - 80 Total 25,581 + 86 -530 Gold stock 21,709 - 50 -368 Treasury currency outstanding 4,978 + 1 +100 Money in circulation 30,278 +140 -262 Treasury cash holdings 801 + 17 Treasury deposits with F. R. Banks 213 -354 -109 Foreign deposits with F. R. Banks 432 +7 - 17 Other deposits with F. R. Banks 249 -167 -285 Other F. R. accounts (net) 884 - 2 +76 Member bank reserves 19,410 +412 -220 Required reserves (estimated) 18,185 + 17 -84l Excess reserves (estimated) 1,225 +395 +621 Daily averages for period-- Estimated excess reserves of member banks 1,189 +537 +421 Member bank borrowings at F. R. Banks 92 - 78 -304 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,025 million, a decrease of $19 million for the week and an increase of $364 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 Nov. 10, Nov. 3, Nov. 11, 1954 1954 1953 A S S E TS Gold certificates 20,185,102 - 50,000 - 358,001 Redemption fund for F. R. notes 841,4l6 - 2,384 - 8,684 Total gold certificate reserves 21,026,518 - 52,384 - 366,665 F. R. notes of other Banks 139,034 + 8,781 - 21,669 Other cash 315,184 - 11,623 + 647 Discounts and advances 292,753 - 226,571 - 71,867 Industrial loans 772 + 39 1,548 - U. S. Government securities: Bought outright-- Bills 22,,002244,,000000 + 100,000 - 114422,,331122 Certificates 6,599,791 + 748,250 - - Notes 13,029,021 244,650 - Bonds 3,092,550 — - 573,600 Total bought outright 24,745,362 + 100,000 212,312 - Held under repurchase agreement 25,000 165,000 - - Total U. S. Government securities 24,745,362 + 75,000 377,312 - Total loans and securities 25,038,887 151,532 450,727 Due from foreign banks 22 -- —«» Uncollected cash items 3,679,419 + 121,001 + 43,736 Bank premises 54,200 + 37 + 4,157 Other assets 180,464 + 7,387 - 43,343 TOTAL ASSETS 50,433,728 - 78,333 - 833 884 L I A B I L I T I ES Federal Reserve notes 25,872,793 + 133,627 - 364,848 Deposits: Member "bank—reserve accounts 19,410,286 + 412,338 - 219,262 U. S. Treasurer—general account 213,432 - 354,051 - 108,245 Foreign 431,631 + 7,009 - 17,266 Other 249,353 - 166,453 - 284,944 Total deposits 20,304,702 - 101,157 - 629,717 Deferred availability cash items 3,137,325 - 116,890 + 123,497 Other liabilities and accrued dividends lft3lj» 2 90 2,427 TOTAL LIABILITIES 49,334,134 ~ 64,510 - 873,495 C A P I T AL A C C O U N TS Capital paid in 282,822 471 + 19,835 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 164,216 5,706 - 20,561 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,433,728 78,333 : 833,884 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5# .2$ ,1# Contingent liability on acceptances purchased for foreign correspondents 3.4,711.3 531 6,226 Industrial loan commitments 1,7$9 20* 1,302 ^November 3 figure revised JL_ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 10, 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 109,291 2 179,700 l6 to 90 days 63,429 138 9,126,850 91 days to 1 year 120,033 600 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 FRATSoEtRa l 292,753 772 24,745,362 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 10, 1954 H.4.1(b) (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Lpuis Mpls, Kans.Cy. Dallas SanFran. Gold certificates 20,185,102 994,022 5,256,459 1168,264 1668,429 1345,491 927,485 3621,894 799,291 442,143 835,343 789,159 2337,122 Redemption fund for F. R. notes 84i,4l6 49,879 174,884 55,330 75,383 65,993 54,166 144,389 47,286 24,686 39,884 28,879 80,657 Total gold certificate reserves 21,026,518 1043,901 5,431,343 1223,594 1743,812 1411,484 981,651 3766,283 846,577 466,829 875,227 818,038 2417,779 F.R. notes of other Banks 139,034 9,200 35,935 6,497 4,956 11,304 18,051 17,185 7,440 2,444 5,097 6,756 14,169 Other cash 315,184 20,456 59,778 16,378 32,024 17,103 28,286 53,917 18,965 8,541 10,695 13,084 35,957 Discounts and advances 292,753 16,235 55,950 29,840 24,975 12,515 27,955 49,471 8,150 5,475 33,852 8,965 19,370 Industrial loans 772 " — 693 — " 79 -- " U. S. Govt, securities: Bought outright— Bills 2,024,000 111,681 516,994 123,176 173,471 119,209 103,084 353,832 84,695 49,704 87,323 79,531 221,300 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 24,745,362 1365,400 6,320,757 1505,953 2120,851 1457,452 1260,306 4325,935 1035,470 607,672 1067,614 972,344 2705,608 Total loans and ~ securities 25,038,887 1381,635 6,376,707 1536,486 2145,826 1469,967 1288,261 4375,406 1043,620 613,226 1101,466 981,309 2724,978 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 l 2 Uncollected cash items 3,679,419 284,474 6337886 235,720 315,627 321,170 276,474 594,778 167,382 114,479 190,756 186,935 357,738 Bank premises 54,200 5,896 7,263 5,162 5,084 4,530 3,906 6,318 2,844 1,015 2,451 1,085 8,646 Other assets 180,464 9,808 45,376 10,864 15,400 10,681 9,819 31,321 7,751 4,328 8,003 7,567 19,546 TOTAL ASSETS 50,433,728 2755,371 12,590,294 3034,703 4262,731 3246,240 2606,449 8845,211 2094,580 1210,863 2193,696 2014,775 5578,815 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 NOVEMBER 10, 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 25,872,793 1581,176 5,799,792 1804,663 2381,026 1840,508 1373,612 4994,764 1162,167 584,089 1013,708 745,388 2591,900 Deposits: Member bank-reserve accts. 19,410,286 814,384 5,688,411 900,728 1461,312 861,033 918,514 3121,975 715,691 477,987 938,243 1034,088 2477,920 U.S. Treasurer-general acct 213,432 539 560 1,038 510 184,634 560 586 592 2,277 20,053 503 1,580 Foreign 431,631 25,925 1/129,862 31,450 39,100 21,675 18,275 59,075 16,150 10,625 16,150 19,975 43,369 Other 249,353 4,338 159.671 10,250 7,941 2,647 1,381 9,193 9,911 1,581 6,483 1,845 34,112 Total deposits 20,304,702 845,186 5,978,504 943,466 1508,863 1069,989 938,730 3190,829 742,344 492,470 980,929 1056,411 2556,981 Deferred avail, cash items 3,137,325 260,812 495,245 205,049 271,107 276,543 243,367 503,028 145,415 104,887 155,067 160,906 315,899 Other liabilities and accrued dividends 19,314 982 6,106 1,022 1,795 961 897 2,956 737 475 776 751 1,856 TOTAL LIABILITIES 49,334,134 2688,156 12,279,647 2954,200 4162,791 3188,001 2556,606 8691,577 2050,663 1181,921 2150,480 1963,456 5466,636 Capital paid in 282,822 14,916 88,677 18,719 26,777 12,535 12,076 36,547 9,744 6,160 10,639 14,420 31,612 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 164,216 10,509 38,018 11,386 14,509 10,605 8,971 24,866 8,187 5,490 7,984 7,446 16,245 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,433,728 2755,371 12,590,294 3034,703 4262,731 3246,240 2606,449 8845,211 2094,580 1210,863 2193,696 2014,775 5578,815 Contingent liability on acceptances purchased for foreign correspondents 14,743 903 2/4,235 1,095 1,362 755 636 2,057 562 370 562 696 1,510 Industrial loan commitments 1,7^9 3f7 598 39 108 18 669 M 1 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,716,21* 1622,776 5,964,996 1872,719 2484,275 1886,846 1427,275 5093,991 1206,902 619,689.1038,886 784,298 2713,559 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 53,472 4,950 16,150 3,080 1,120 850 26,822 500 U. S. Govt, securities 16.965,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 2800,000 920,000 500,000 800,000 525,000 1620,000 Total collateral 28,111,472 1844,950 6,270,000 2016,150 2500,000 192b,080 1485,000 5200,000 1276,120 675,850 1106,822 808,000 3000,500 1/ After deducting $301,750,000 participations of other Federal Reserve Banks. 2/ After deducting $10,508,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis > I J