H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) November 18, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items . . During the week ended November 17, Member ban kreserves decreased $ 5 million. The principal changes reducing reserves were increases of $331 million in Treasury deposits with Federal Reserve Banks and $132 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $352 million in Reserve Bank credit and decreases of $45 million in Money in circulation and $18 million in Foreign deposits with Federal Reserve Banks. The increase of $352 million in Reserve Bank credit resulted from increases of $463 million in Float and $6 million in Loans, discounts and advances, and a decrease of $117 million in U. S. Government securities bought outright. The decrease in U. S. Government securities bought outright was in holdings of bills. Change since Member Bank Reserves Nov. 17, Nov. 10, Nov. 18, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,628 -117 -330 Held under repurchase agreement Loans, discounts and advances 300 + 6 -297 Float 1,005 +463 + 72 Total 25,933 +352 -554 Gold stock 21,709 - " -367 Treasury currency outstanding 4,979 4- 1 +101 Money in circulation 30,233 - 45 -254 Treasury cash holdings 802 + 1 + 16 Treasury deposits with F. R. Banks 544 +331 + 41 Foreign deposits with F. R. Banks 414 - 18 - 5 Other deposits with F. R. Banks 381 +132 - 17 Other F. R. accounts (net) 882 - 2 + 77 Member bank reserves 19,365 - 45 -679 Required reserves (estimated) 18,437 +252 -750 Excess reserves (estimated) 928 -297 + 71 Daily averages for period-- Estimated excess reserves of member banks 984 -205 +252 Member bank borrowings at F. R. Banks 87 - 5 -311 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,008 million, a decrease of $17 million for the week and an increase of $323 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 pf dollars) Change since Nov. 17, Nov. 10, Nov. 18, 1954 1954 1953 A S S E TS Gold certificates 20,180,100 5,002 -- 363,001 • Redemption fund for F. R. notes 851,416 + 10,000 + 1,316 Total gold certificate reserves 21,031,516 + 4,998 - 361^685 F. R. notes of other Banks 148,058 + 9,024 - 17,529 Other cash 328,107 + 12,923 - 5,067 Discounts and advances 298,939 + 6,186 295,323 Industrial loans 722 50 - 1,679 U. S. Government securities: Bought outright-* Bills 1,907,000 117,000 - 259,312 Certificates 6,599,791 + 748,250 Notes 13,029,021 — — — 244,650 Bonds 3,092,550 •» — — 573,600 Total bought outright 24,628,362 117,000 - 329,312 Held under repurchase agreement Total U. S. Government securities 24,620,362 - 117,000 - 329,312 Total loans and securities 24,928,023 - 110,864 - 626,314 Due from foreign banks 22 Uncollected cash items 5,031,950 +1,352,531 + 328,938 Bank premises 54,411 + 211 + 4,256 Other assets 188,593 + 8,129 46,440 TOTAL ASSETS 51,710,680 +1,276,952 - 723,841 L I A B I L I T I ES Federal Reserve notes 25,854,995 17,798 - 355,957 Deposits: Member bank--reserve accounts 19,364,941 - 45,345 - 678,646 U. S. Treasurer--general account 544,165 + 330,733 + 41,348 Foreign 413,725 - 17,906 5,651 Other 380,585 + 131,232 - 17,076 Total deposits 20,703,416 + 398,714 - 660,025 Deferred availability cash items 4,027,121 + 889,796 + 256,876 Other liabilities and accrued dividends 19411 : 3 1,870 TOTAL LIABILITIES 50,604,843 +1,270,709 - 760,976 C A P I T AL A C C O U N TS Capital paid in 283,415 593 + 20,266 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 169,866 + 5.650 - 23,468 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,710,680 +1,276,952 - 723,841 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.2# .356 .2$ Contingent liability on acceptances purchased for foreign correspondents 16,071 + 1,328 3,755 Industrial loan commitments 1,829 + 50* 1,398 •November 10 figure revised MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 17, 1954 (Securities held under repurchase agreement are classified as maturing TeitoMn 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days 150,238 2 390,000 16 to 90 days 28,635 226 12,721,750 91 days to 1 year 120,066 463 2,767,391 Over 1 year to 5 years 31 6,320,750 Over 5 years to 10 years 1,013,614 Over 10 years 1.414.857 Digitized for FRTAoStEaRl 298,939 722 24,628,362 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 17, 1954 H.4.l(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 20,180,100 1039,868 5,334,158 1195,08l 1729,594 1144,442 918,529 3596,727 821,348 408,225 811,965 813,884 2366,279 Redemption fund for F. R. notes 851,416 49,879 174,884 55,330 75,383 75,993 54,166 144,389 47,287 24,685 39,884 28,879 80,657 Total gold certificate reserves 868,635 432,910 851,849 842,763 F.R. notes of other Banks 148,058 8,907 38,706 5,894 6,193 11,205 19,730 18,225 7,771,5715 2,722,3723 7,078,2082 8,287,8278 13,400 Other cash 328,107 20,321 66,792 16,380 33,528 17,743 26,889 54,284 191,95,95292 8,389,4394 111,17,67363 141,40,40141 38,380 Discounts and advances 298,939 12,345 56,250 31,675 24,575 11,515 33,645 48,713 9,198,0180 5,352,5325 323,21,91292 111,15,55454 21,970 Industrial loans 722 — — — — 6^ — — — — —— 78 - - U. S. Govt, securities: Bought outright— Bills 1,907,000 105,225 487,109 116,056 163,443 112,318 97,125 333,378 7979,,779999 4466,,883300 828,22,72575 747,49,39434 208,508 Certificates 6,599,791 364,163 1,685,798 401,650 565,648 388,715 336,133 1153,763 227766,,116688 116622,,007711 228844,,774422 225599,,333322 721,608 Notes 13,029,021 718,915 3,328,029 792,921 1116,679 767,383 663,582 2277,707 '5 4'5 ,-1 9-9 319,953 562,124 511,962 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 24,628,362 1358,944 6,290,872 1498,833 2110,823 1450,561 1254,347 4305,481 1030,574 604,79% 1062,566 967,747 2692,816 Held under repurchase agreement Total U. S. Government securities 24,628,362 1358,944 6,290,872 1498,833 2110,823 1450,561 1254,347 4305,481 1030,574 604,798 1062,566 967,747 2692,816 Total loans and securities 24,928,023 1371,289 6,347,122 1531,152 2135,398 1462,076 1287,992 4354,194 1039,754 610,201 1094,758 979,301 2714,786 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,031,950 441,404 991,106 293,281 455,459 406,863 350,589 815,070 205,908 142,572 232,442 229,787 467,469 Bank premises 54,411 5,896 7,263 5,162 5,084 4,531 3,906 6,318 2,844 1,019 2,453 1,085 8,850 Other assets 188,593 10,316 47,231 11,317 16,185 11,093 10,346 32,618 8,080 4,518 8,329 8,091 20,469 TOTAL ASSETS 51,710,680 2947,881 13,007,268 3113,599 4456,826 3133,947 2672,148 9021,828 2152,529 1202,338 2208,677 2083,347 5710,292 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 17, 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 25,854,995 1583,265 5,801,987 1804,158 2380,712 1840,459 1369,438 4994,867 1159,909 582,952 1011,983 743,860 2581,405 Deposits: Member bank-reserve accts. 19,364,941 877,730 5,640,294 905,984 1493,083 847,660 904,501 3097,970 726,402 428,592 918,794 1042,772 2481,159 U.S.Treasurer-general acct. 544,165 41,311 96,990 57,942 42,613 37,854 39,733 60,736 33,768 23,156 28,267 24,852 56,943 Foreign 413,725 24,827 1/124,736 30,118 37,444 20,757 17,501 56,573 15,466 10,175 15,466 19,129 41,533 Other 380,585 4,379 295,181 9,426 15,724 673 Total deposits 20,703,416 948,247 6,157,201 1 O 1588,864 908,646 962,408 3219,024 782,583 463,692 967,445 1087,372 2:6 14,464 Deferred avail, cash items 4,027,121 348,023 729,250 224,124 384,871 325,485 289,234 650,213 165,240 126,148 118855,,007755 119999,,772266 339999,,773322 Other liabilities and accrued dividends 19,311 880 6,441 969 1,875 869 931 2,869 669 476 693 869 1,770 TOTAL LIABILITIES 50,604,843 2880,415 12,694,879 3032,721 4356,322 3075,459 2622,011 8866,973 2108,401 1173,268 2165,196 2031,8275 597,371 Capital paid in 283,415 14,921 88,926 18,751 26,784 12,536 12,114 36,718 9,756 6,163 10,652 14,417 31,677 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 169,866 10,755 39,511 11,729 15,066 10,853 9,227 25,916 8,386 5,615 8,236 7,650 16,922 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,710,680 2947,881 13,007,268 3113,599 4456,826 3133,947 2672,148 9021,828 2152,529 1202,338 2208,677 2083,347 5710,292 Contingent liability on acceptances purchased for foreign correspondents 16,071 976 2/4,711 1,184 1,472 816 688 2,224 608 400 608 752 1,632 Industrial loan commitments 1,829 397 598 39 108 18 669 FEDERAL RESERVE AGENTS 1ACCOUNTS F. R. notes outstanding 26,739,713 1624,994 6,007,068 1872,313 2485,168 1889,307 1425,475 5085,748 1207,694 619,260 1037,474 784,052 2701,160 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 52,237 1,060 17,985 --- 2,080 --- 2,150 700 25,162 3,100 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 28,110,237 1841,060 6,270,000 2017,985 2500,000 1927,080 1485,000 5200,000 1277,150 675,700 1105,162 808,000 3003,100 l/ After deducting $288,970,000 participations of other Federal Reserve Banks. 2/ After deducting $11,360,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis