H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 23, 195^ CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 22, Member bank reserves decreased $195 million. The principal changes reducing reserves were increases of $173 million in Money in circulation and $1+5 million in Foreign deposits with Federal Reserve Banks, and a decrease of $6 million in Reserve Bank credit. The principal offsetting change was a decrease of $23 million in Treasury deposits with Federal Reserve Banks. The decrease of $6 million in Reserve Bank credit resulted from an increase of $137 million in Float and decreases of $99 million in Loans, discounts and advances and $44 million in U. S. Government securities held under repurchase agreement. Change since Member Bank Reserves Dec. 22, Dec. 15, Dec. 23, and Related Items 19^4 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright 24,888 - 430 Held under repurchase agreement - 44 - 568 Loans, discounts and advances 265 - 99 - 172 Float 1,328 +137 - 41 Total 26,48l 6 -1,211 Gold stock 21,712 + l - 317 Treasury currency outstanding 4,982 + l + 96 Money in circulation 30,9^6 +173 210 Treasury cash holdings 808 + l + 45 Treasury deposits with F. R. Banks 310 - 23 489 Foreign deposits with F. R. Banks 450 + 45 11 Other deposits with F. R. Banks 319 - 5 108 Other F. R. accounts (net) 975 38 Member bank reserves 19,367 -195 697 Required reserves (estimated) l8,64l + 49 653 Excess reserves (estimated) 726 -244 44 Daily averages for period— Estimated excess reserves of member banks 880 +175 + 132 Member bank borrowings at F. R. Banks 1^7 -116 - 356 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,963 million, a decrease of $29 million for the week and an increase of $226 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B,4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in. thousands of dollars) Change since Dec. 22, Dec. 15, Dec. 23, 1954 1954 1953 A S S E TS Gold certificates 20,165,101 3 - 293,002 Redemption fund for F. R. notes 867,405 : : 13,239 hm Total gold certificate reserves 21,032,506 - 171S0 - 306,241 F. R. notes of other Banks 151,031 + l,4l4 - 15,834 Other cash 298,882 - 13,158 + 502 Discounts and advances 264,409 - 99,100 - 170,656 Industrial loans 641 101 1,764 U. S. Government securities: Bought outright— Bills 2,167,000 - 429,312 Certificates 13,882,341 +8,065,800 Notes 6,037,271 -7,226,400 Bonds - 839,400 Total bought outright - 429,312 Held under repurchase agreement 43,400 - 567,700 Total U. S. Government securities 24,086,362 43,400 - 997,012 Total loans and securities 25,153,412 - 142,601 -1,169,432 Due from foreign banks 22 Uncollected cash items 4,694,442 - 319,518 + 191,473 Bank premises 54,833 + 168 + 3,107 Other assets 128,512 + 6,126 16,636 TOTAL ASSETS 51,513,640 - 468,749 -1,313,061 L I A B I L I T I ES Federal Reserve notes 26,543,375 + 160,440 - 264,668 Deposits: Member bank—reserve accounts 19,366,873 - 195,585 - 697,046 U. S. Treasurer—general account 310,004 - 22,878 * 489,323 Foreign 449,532 + 44,709 - 11,305 Other 318,558 5,300 - 108,707 Total deposits 20,444,967 - 179,054 -1,306,381 Deferred availability cash items 3,366,698 - 456,627 + 233,044 Other liabilities and accrued dividends 22,168 + , 1,319 3,470 TOTAL LIABILITIES 50,377,20b - 473,922 -1,341,475 C A P I T AL A C C O U N TS Capital paid in 286,602 423 + 21,720 Surplus (Section 7) 625,013 > 40,337 Surplus (Section 13b) 27,543 Other capital accounts 197,274 + 4,750 - 33,643 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,513,640 - 468,749 -1,313,061 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8# .1# Contingent liability on acceptances purchased for foreign correspondents 296 19,372 3,631 Industrial loan commitments 1,8$4 99* 1,133 •December 15 figure revised MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 22, 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 129,271 231 605,500 16 to 90 days 41,764 31 5,573,500 91 days to 1 year 93,374 349 13,193,764 Over 1 year to 5 years 30 3,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRATSoEtRa l 264,409 W 24,080,362 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 22, 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 20,165,101 976,707 5,380,674 1270,296 1711,961 1121,498 965,965 3601,486 831,378 425,871 811,673 749,087 2318,505 Redemption fund for F. R. notes 867,405 53.668 184,192 58,928 76.999 74,913 53.931 144,008 47,149 24,644 39,771 28,793 80,409 Total gold certificate 21,032,506 1030,375 5,564,866 1329,224 1788,960 1196,411 1019,896 3745,494 878,527 851,444 777,880 2398,914 reserves 450,515 F.R. notes of other Banks 151,031 6,899 36,626 6,029 5,798 11,475 24,567 20,133 7,565 3,503 5,175 7,452 15,809 8,062 Other cash 298,882 18,010 63,140 13,894 27,219 17,038 28,733 49,736 19,832 11,129 11,327 30,762 Discounts and advances 264,409 15,333 47,027 17,572 27,412 l8,8o4 14,583 43,984 11,367 8,908 24,302 21,467 13,650 76 Industrial loans 6ki -- — 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 13 882 341 765,999 3,545,994 844,852 1189,814 817,643 707,042 580,906 598,940 545,492 1517,867 Certificates 2426,883 340,909 6,037,271 333,125 1,542,112 367,416 307,484 1055,424 252,630 260,472 660,103 Notes 517,436 355,583 148,257 237,229 Bonds 2,801,750 154,595 715,b57 170,509 *40,lju iD5,uif 142,oyo toy,fyo UU J Uvc luU y \J | ^ J 7 - JLV J \JyCL UU J Total 24,888,362 1373,290 6,357,284 1514,656 2133,107 1465,875 1267,589 4350,934 1041,454 611,183 1073,703 977,963 2721,244 Held under repurchase agreement Total U, S. Government securities 24,888,362 1373,290 6,357,284 1514,656 2133.107 1465,875 1267,589 4350,934 1041,454 611,183 1073,783 977,963 2721,244 Total loans and securities 25,153,412 1388,623 6,404,311 1532,793 2160,519 1484,679 1282,172 4394,918 1052,821 620,167 1098,085 999,430 2734,894 Due from foreign banks 22 1 1/ 6 2 21 1 31 1 1 1 2 Uncollected cash items 4,694,442 358,155 9117590 257,063 452,526 368,277 339,813 765,535 185,826 124,381 256,378 230,703 444,195 Bank premises 54,833 5,881 7,250 5,151 5,265 4,511 3,887 6,311 2,837 1,014 2,530 1,136 9,060 128,512 6,811 31.460 10,886 23,810 5,536 3,069 5,698 5,688 Other assets 7,389 7,357 7,037 13,771 TOTAL ASSETS 51,513,640 2814,755 13,019,249 3151,545 4451,175 3089,749 2706,106 9005,940 2152,945 1210,712 2230,440 2033,617 5647,407 1/ After deducting $ 16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 22, 1954 H.4.1(c) (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. L I A B I L I T I ES Federal Reserve notes 26,543,375 1632,790 5,987,430 1870,761 2457,450 1892,503 1413,271 5097,616 1190,625 589,342 1035,739 755,659 2620,189 Deposits: Member bank-reserve accts. 19,366,873 821,308 5,680,833 928,297 1472,429 811,271 931,748 3112,275 727,614 459,690 936,766 1007,374 2477,268 U.S.Treasurer-general acct 310,004 14,577 52,044 26,895 31,191 24,259 20,324 32,934 21,915 21,028 28,661 13,244 22,932 Foreign 449,532 26,718 1/138,533 32,412 40,296 22,338 18,834 60,882 16,644 10,950 16,644 20,586 44,695 Other 318,558 5,931 241,939 10,127 6,852 1,555 945 3,115 6,802 817 2,825 469 37,181 Total deposits 20,444,967 868,534 6,113,349 997,731 1550,768 859,423 971,851 3209,206 772,975 492,485 984,896 1041,673 2582,076 Deferred avail. cash items 3,366,698 243,537 590,566 199,331 337,495 276,786 268,657 534,344 143,379 98,583 164,203 182,739 327,078 Other liabilities and accrued dividends 22,168 1,016 7,596 1,125 2,208 963 910 3,322 675 585 738 1,033 1,997 TOTAL LIABILITIES 50,377,208 2745,87 712,698,941 3068,948 4347,921 3029,675 2654,68 98844,488 2107,6541 180,995 2185,576 1981,104 5531,340 Capital paid in 286,602 14,962 89,269 18,816 27,311 12,559 12,191 38,269 9,905 6,234 10,859 14,432 31,795 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,l4o Other capital accounts 197,274 12,126 47,087 13,383 17,289 12,4l6 10,430 30,962 9,400 6,191 9,412 8,628 19,950 TOTAL LIABILITIES AND 51,513,640 2814,755 13,019,24 93151,545 4451,175 3089,74 92706,106 9005,940 2152,94 51210,712 2230,440 2033,617 5647,407 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 19,372 1,183 2/ 5,598 1,436 1,785 989 834 2,697 737 485 737 912 1,979 Industrial loan commitments 1,8§4 475 598 39 104 17 6$1 <\ b FEDERAL RESERVE AGENTS' ACCOUNTS y 27,424,39) 1671,317 6,203,972 1926,396 2562,117 1940,296 1477,729 5202,454 1233,161 624,140 1063,432 794,05^ 2725,326 F. R. notes outstanding Collateral for F.R. notes; Gold certificates 11,208,000 640,000 2,670,000 800,000 1050,00 0675,000 500,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 58,069 7,200 7,705 —- 12,004 — —- 6,300 5,575 19,235 --- 50 U. S. Govt, securities 17,140,000 1200,000 3,600,000 1200,000 1550,000 1300^000 1000,000 2900,00 0945,000 500,000 800,000 525,000 1620,000 Total collateral 28,406,069 1847,200 6,270,000"2007,705 2600,000 1987,004 1500,000 5300,000 1305,300 680,575 1099,235 808,000 3000,050 1/ After deducting $310,980,000 participations of other Federal Reserve Banks, 2/ After deducting $13,774,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1