H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) December 16, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 15, Member bank reserves increased $489 million. The principal changes supplying reserves were an increase of $629 $56 million in Reserve Bank credit and decreases of million in Other deposits with Federal Reserve Banks, $17 million in Treasury deposits with Federal Reserve Banks, and $11 million in Treasury cash holdings. The principal offsetting changes were increases of $99 million in Other F. R. accounts (net), $76 million in Money in circulation, and $4-7 million in Foreign deposits with Federal Reserve Banks. $629 The increase of million in Reserve Bank credit resulted from $567 increases of million in Float, $44 million in U. S. Government securities held under repurchase agreement, and $18 million in Loans, discounts and advances. The decrease in holdings of U. S. Government bonds and notes bought outright, as shown in the Statement of Condition of the Twelve Federal Reserve Banks Combined, reflects the exchange of maturing issues for new issues of certificates. Change since Member Bank Reserves Dec. 15, Dec. 8, Dec. 16, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,888 __ -355 Held under repurchase agreement 44 + 44 -170 Loans, discounts and advances + 18 364 + 93 Float 1,191 +567 - 2 Total +629 26,487 -434 Gold stock 21,711 -- -317 Treasury currency outstanding 4,981 - 1 + 97 Money in circulation + 76 30,773 -180 Treasury cash holdings 807 - 11 + 38 Treasury deposits with F. R. Banks 333 - 17 +109 Foreign deposits with F. R. Banks 405 + 47 - 59 Other deposits with F. R. Banks 324 - 56 + 65 Other F. R. accounts (net) 975 + 99 + 39 Member bank reserves 19,562 +489 -667 Required reserves (estimated) 18,539 +114 -770 Excess reserves (estimated) 1,023 +375 +103 Daily averages for period-- Estimated excess reserves of member banks 758 + 63 - 7 Member bank borrowings at F. R. Banks 263 - 28 -167 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,992 million, a decrease of $22 million for the week and an increase of $277 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 Dec. 15, Dec. 8, Dec• 16, 1954 1954 1953 A S S E TS Gold certificates 20,165,104 + 999 - 229944,,999999 Redemption fund for F. R. notes 868,582 + 4,001 12,989 - Total gold certificate reserves 21,033,666 + 5,000 307,988 - F. R. notes of other Banks 149,617 + 6,075 8,192 - Other cash 312,040 + 9,571 + 2,237 Discounts and advances 363,509 + 18,373 + 95,072 Industrial loans 742 + 120 - 1,549 U. S. Government securities: Bought outright-- Bills 22,,116677,,000000 — - 335544,,331122 Certificates 13,882,341 +7, 282,550 +8,065,800 Notes 6,037,271 -6,991,750 -7,226,400 Bonds 2,801,750 - 290,800 - 839,400 Total bought outright 24,888,362 35*+, 312 - - - Held under repurchase agreement 43,400 + 43,409 170,800 - Total U. S. Government securities 24,931,762 + 43,400 525,112 - Total loans and securities 25,296,013 + 61,893 431,589 Due from foreign banks 22 -- -- Uncollected cash items 5,013,960 +1,446,355 - 21,221 Bank premises 54,665 + 118 + 3,708 Other assets 122,386 92,039 12,936 - - TOTAL ASSETS 51,982,389 +1,436,973 775,981 - L I A B I L I T I ES Federal Reserve notes 26,382,935 + 85,920 236,065 - Deposits: Member bank--reserve accounts 1199,,556622,,445588 + 448899,,995533 666666,,333333 - U. S. Treasurer--general account 332,882 16,914 + 109,230 - Foreign 404,823 + 47,111 58,785 - Other 323,858 56,026 + 64,981 - Total deposits 20,624,021 + 464,124 550,907 - Deferred availability cash items 3,823,325 + 880,042 18,624 - Other liabilities and accrued dividends 20,849 638 1,918 - - TOTAL LIABILITIES 50,851,130 +1,429,448 807,514 - C A P I T AL A C C O U N TS Capital paid in 286,179 + 1,715 + 22,023 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 - - Other capital accounts 192,524 + 5,810 30,827 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,982,389 +1,436,973 775,981 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.7# .6% - - - Contingent liability on acceptances purchased for foreign correspondents 19,668 15 22,,887722 - - Industrial loan commitments l,8®§ 101 1,431 - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 15, 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--dayo 202,463 1 592,550 16 to 90 days 54,201 271 5,729,750 91 days to 1 year 106,845 441 13,193,764 Over 1 year to 5 years 29 3,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRA T S o E t R a l 363,509 "7%2 24,931,762 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 15, 1954 K. 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 20,165,104 988,780 5,298,153 1219,503 1666,598 1136,863 926,807 3625,310 833,948 429,116 815,751 775,327 2448,948 Redemption fund for F. R. notes 868,582 53,730 184,380 59,045 77,108 75,233 54,003 144,126 47,192 24,656 39,802 28,826 8o,48l Total gold certificate reserves 21,033,686 1042,510 5,482,533 1278,548 1743,706 1212,096 980,810 3769,436 881,140 453,772 855,553 804,153 2529,429 F.R. notes of other Banks 149,617 3,252 43,744 5,751 6,067 10,224 23,302 17,906 7,866 3,704 4,759 6,622 16,420 Other cash 312,o4o 17,996 65,262 19,236 30,634 17,432 26,346 51,053 20,229 7,535 11,283 12,363 32,671 Discounts and advances 363,509 18,383 66,093 27,627 23,795 23,509 11,750 55,277 13,661 9,882 69,009 22,115 22,408 667 Industrial loans 742 — -- -- — — -- 75 " -- U. S. Govt, securities: Bought outright— Bills 2,167,000 119,571 553,521 131,879 185,727 127,632 110,367 378,831 90,679 53,215 93,492 85,150 236,936 Certificates 13,882,341 765,999 3,545,994 844,852 Il89,8l4 817,643 707,042 2426,883 580,906 340,909 598,940 545,492 1517,867 Notes 6,037,271 333,125 .1,542,112 367,416 517,436 355,583 307,484 1055,424 252,630 148,257 260,472 237,229 660,103 Bonds 2,801,750 154,595 715,657 170,509 240,130 165,017 142,696 489,796 117,239 68,802 120,879 110,092 306,338 Total Held under repurchase agreement 43,400 43,400 Total TJ. S. Government securities 24,931,762 1373,290 6,400,684 1514,656 2133,107 1465,875 1267,589 4350,934 1041,454 611,183 1073,783 977.963 2721,244 Total loans and securities 25,296,013 1391,673 6,466,777 1542,950 2156,902 1489,384 1279,339 4406,211 1055,115 621,l4o 1142,792 1000,078 2743,652 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,013,960 393,519 981,159 280,721 540,419 393,485 348,255 836,601 218,309 138,287 255,376 213,092 414,537 Bank premises 54,665 5,881 7,248 5,156 5,253 4,511 3,890 6,311 2,837 1,013 2,530 1,136 8,899 Other assets 122,386 6,463 29,729 7,052 10,359 7,083 6,717 22,653 5,280 2,922 5,456 5,479 13,193 TOTAL ASSETS 51,982,389 2861,295 13,076,458 3139,416 4493,342 3134,216 2668,660 9110,374 2190,777 1228,374 2277,750 2042,924 5758,803 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 DECEMBER 15, 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 26,382,935 1620,637 5,948,835 1856,245 2436,319 1883,921 1400,033 5067,794 1184,64? 586,924 1031,609 751,315 2614,656 Deposits: Member bank-reserve accts. 19,562,458 811,775 5,699,603 931,006 1492,065 827,070 901,782 3127,548 758,697 466,208 969,486 1002,441 2574,777 U.S.Treasurer-general acct. 332,882 12,167 60,105 18,579 36,905 29,294 15,054 63,288 9,070 19,139 22,997 23,325 22,959 Foreign 404,823 24,339 1/121,514 29,526 36,708 20,349 17,157 55,461 15,162 9,975 15,162 18,753 40,717 Other 2,038 906 2,134 539 43,988 f IS . ^ M Total deposits 20,624,021 853,289 6,122,216 989,863 1573,030 Deferred avail, cash items 3,823,325 317,816 679,340 209,961 379,162 Other liabilities and accrued dividends TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral DC O 3S 934,917 3249,467 788,982 496,228 1009,779 1045,0$8 2682,441 281,562 629,473 171,387 115,175 191,086 193,270 344,286 20,849 974 7,072 1,050 2,010 934 963 3,159 671 494 709 948 1,865 50,851,130 2792,716 12,757,463 3057,119 4390,521 3074,413 2617,475 8949,893 2145,687 1198,821 2233,183 1990,591 5643,248 286,179 14,944 89,245 18,801 27,229 12,547 12,158 38,174 9,900 6,171 10,796 14,424 31,790 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 192,524 11,845 45,798 13,098 16,938 12,157 10,231 30,086 9,204 6,090 9,178 8,456 19,443 51,982,389 2861,295 13,076,458 3139,416 4493,342 3134,216 2668,660 9110,374 2190,777 1228,374 2277,750 2042,924 5758,803 19,668 1,202 2/5,681 1,458 1,812 1,005 847 2,738 749 492 749 926 2,009 1/86^. 3*4 598 39 106 17 6fl FEDERAL RESERVE AGENTS ACCOUNTS 27,365,843 1663,226 6,208,482 1921,566 2556,232 1930,552 1467,314 5178,675 1239,200 622,901 1061,863 787,935 2727,897 11,168,000 640,000 2,670,000 80800,00,0000 01 015005,00,00000 665500,,000000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 117,312 7,850 14,850 — 14,703 7,100 5,565 62,448 — 4,796 17,140,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2900,000 945,000 500,000 800,000 525,000 1620,000 28,425,312 1847,850 6,270,000 2014,850 2600,000 1964,703 1485,000 5300,000 1307,100 680,565 1142,448 808,000 3004,796 1/ After deducting $283,290,000 participations of other Federal Reserve Banks. 2/ After deducting $13,987,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1