H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) December 30, 1954 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended December 29, Member bank reserves decreased $134 million. The principal changes reducing reserves were increases of $155 million in Treasury deposits with Federal Reserve Banks, $127 million in Foreign deposits with Federal Reserve Banks, and $51 million in Other deposits with Federal Reserve Banks, and a decrease of $110 millio nin Reserve Bank credit. The principal offsetting change was a decrease of $308 millio nin Money in circulation. The decrease of $110 millio nin Reserve Bank credit resulted from a decrease of $474 million in Float and increases of $300 millio nin Loans, discounts and advances and $63 million in U. S. Government securities held under repurchase agreement. Change since Member Bank Reserves Dec. 29, Dec. 22, Dec. 30, and Related Items 1954 1954 1953 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,888 -430 *- — Held under repurchase agreement 63 + 63 -521 Loans, discounts and advances 565 +300 +463 Float 854 -474 -119 Total 26,371 -110 -606 Gold stock 21,712 -317 Treasury currency outstanding 4,984 + 2 + 95 Money in circulation 30,638 -308 -252 Treasury cash holdings 809 + 1 + 36 Treasury deposits with F. R. Banks 465 +155 + 88 Foreign deposits with F. R. Banks 577 +127 +103 Other deposits with F. R. Banks 370 + 51 - 10 Other F. R. account s(net) 975 + 39 Member bank reserves 19,233 -134 -833 Required reserves (estimated) 18,603 - 38 -761 Excess reserves (estimated) 630 - 96 - 72 Daily averages for period-- Estimated excess reserves of member bank s657 -223 -156 Member bank borrowings at F. R. Bank s243 + 96 +32 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $2,947 million, a decrease of $l6 million for the week and an increase of $244 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 TWELVg FEDERAL RESERVE BANKS COMBINED (la thousands of dollars) Change since Dec. 29, Dec. 22, Dec. 30, 1954 1954 1953 A S S E TS Gold certificates 20,165,102 + 1 283,001 Redemption fund for F. R. notes 867,405 33,238 Total gold certificate reserves 21,032,507 + 1 316,239 F, R. notes of other Banks r*"~" 206,806 + 55,775 + 12,531 Other cash 341,279 + 42,397 + 1,054 Discounts and advances 564,568 + 300,159 + 464,468 Industrial loans 622 - 19 1,351 U. S. Government securities: Bought outright-- Bills 2,167,000 - 429,312 +8,065,800 Certificates 13,882,341 Notes 6,037,271 -7,226,400 Bonds 2,801,750 - 839,400 Total bought outright 24'888^362 - 429,312 Held under repurchase agreement 63,000 63,000 - 521,500 Total U. S. Government securities 24,951,362 637000 - 950,012 Total loans and securities 25,516,552 + 363,140 - 487,695 Due from foreign banks " 22 Uncollected cash items 4,103,953 - 590,489 - 177,705 Bank premises 54,847 + 14 + 2,965 - 18,185 Other assets 134,483 + 5,971 TOTAL ASSETS 51,390,449 - 123,191 - 903,274 L I A B I L I T I ES Federal Reserve notes 26,330,387 - 212,988 - 297,935 Deposits: Member bank—reserve accounts 19,232,875 - 133,998 - 833,077 U. S. Treasurer—general account 465,451 + 155,447 + 88,595 + 103,107 Foreign 576,703 + 127,171 Other 370,421 + 51,863 z_ 9,279 - 650,654 Total deposits 20,645,450 + 200,403 - 58,865 Deferred availability cash items 3,249,855 - 116,843 + 815 2,677 Other liabilities and accrued dividends 22,983 -1,010,131 TOTAL LIABILITIES 50,240,675 - 120,533 C A P I T AL A C C O U N TS Capital paid in 287,558 956 + 22,466 Surplus (Section 7) 625,013 + 40,337 Surplus (Section 13b) 27,543 Other capital accounts 201,660 4,386 - 35,946 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,390,449 - 123,19.1 - 903,274 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44 J .3# Contingent liability on acceptances purchased for foreign correspondents 19,179 - 193 4,752 Industrial loan commitments 1,9*1 + 67 1,513 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 29, 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 429,230 " 125 ~ 693,250 16 to 90 days 41,968 32 5,548,750 91 days to 1 year 93,370 389 13,193,764 3,087,127 Over 1 year to 5 years 75 Over 5 years to 10 years 1,013,614 Over 10 years , 1,414,857 Total 564,568 622 24,951,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON DECEMBE R29, 1954 H.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 20,165,102 974,780 5,471,316 1249,488 1665,401 1160,172 939,372 3533,594 804,572 432,465 809,467 767,854 2356,621 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 reserves 21,032,507 1028,448 5,655,508 1308,416 1742,400 1235,085 993,303 3677,602 851,721 457,109 849,238 796,647 2437,030 F.R. notes of other Banks 206,806 10,877 48,480 10,321 10,312 17,158 33,922 24,143 10,298 5,669 8,141 10,452 17,033 Other cash 341,279 21,115 74,454 14,261 33,765 20,575 29,884 57,465 22,473 7,893 12,497 12,711 34,186 Discounts and advances 564,568 14,383 51,417 40,882 69,837 28,450 37,083 170,934 19,617 20,433 40,865 32,067 38,600 Industrial loans 622 — — ^j-^0 — — — — 124 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 1189,814 817,643 707,042 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 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 Held under repurchase agreement 63,000 63,000 Total U. S. Government securities 24,951,362 1373,290 6,420,284 1514,656 2133,107 1465,875 1267,589 4350,934 1041,454 611,183 1073,783 977,963 2721,244 Total loans and securities 25,516,552 1387,673 6,471,701 1556,036 2202,944 1494,325 1304,672 4521,868 1061,071 631,740 1114,648 1010,030 2759,844 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,103,953 325,151 787,958 245,064 413,741 318,024 277,079 677,530 168,062 110,303 219,226 197,365 364,450 Bank premises 54,847 5,919 7,250 5,164 5,278 4,493 3,879 6,295 2,836 1,007 2,530 1,136 9,060 Other assets 134,483 7,057 32,807 7,787 11,613 7,809 7,369 24,776 5,832 3,196 5,924 5,924 14,389 TOTAL ASSETS 51,390,449 2786,241 13,078,164 3147,051 4420,055 3097,470 2650,109. 8989,682 2122,294 1216,918 2212,205 2034,266 5635,994 l/ After deducting $16,000 participations of other Federa lReserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 29, 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 26,330,387 1619,405 5,945,761 1853,047 2436,358 1874,677 1401,926 5069,166 1180,323 584,156 1028,717 747,530 2589,321 Deposits: Member bank-reserve accts. 19,232,875 764,314 5,652,107 920,400 1450,913 812,352 905,030 3109,368 708,804 465,796 928,564 1006,511 2508,716 U.S.Treasurer-general acct. 465,451 32,396 103,005 35,289 43,284 31,152 38,100 33,907 24,353 27,732 25,508 34,508 36,217 Foreign 576,703 34,404 1/176,245 41,736 51,888 28,764 24,252 78,396 21,432 14,100 21,432 26,508 57,546 Other 370,421 5,985 290,503 10,618 7,437 1,911 834 4,619 9,166 863 1,717 512 36,256 Total deposits 20,645,450 837,099 6,221,860 1008,043 1553,522 874,179 968,216 3226,290 763,755 508,491 977,221 1068,039 2638,735 Deferred avail, cash items 3,249,855 259,697 580,311 201,944 324,115 287,169 227,423 528,707 131,949 93,865 160,337 164,900 289,438 Other liabilities and accrued dividends 22,983 1,022 7,964 1,139 2,439 1,066 924 3,240 776 523 824 1,101 1,965 TOTAL LIABILITIES 50,248,675 2717,223 12,755,896 3064,173 4316,434 3037,091 2598,489 8827,403 2076,803 1187,035 2167,099 1981,570 5519,459 Capital paid in 287,558 14,973 89,946 18,816 27,324 12,600 12,203 38,322 9,934 6,300 10,905 14,440 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 2,140 Other capital accounts 201,660 12,255 48,370 13,664 17,643 12,680 10,621 31,736 9,571 6,291 9,608 8,803 20,418 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,390,449 2786,241 13,078,164 3147,051 4420,055 3097,470 2650,109 8989,682 2122,294 1216,918 2212,205 2034,266 5635,994 Contingent liability on acceptances purchased for foreign correspondents 19,179 1,171 2/5,547 1,421 1,766 979 826 2,669 730 480 730 902 1,958 Industrial loan commitments 1,9^1 542 598 39 104 17 6il X Vd FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,383,938 1672,085 6,200,264 1917,900 2564,127 1938,834 1468,360 5195,940 1227,907 623,635 1063,546 790,713 2720,627 Collateral for F.R. notes: Gold certificates 11,208,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2400,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 151,363 6,250 31,015 21,650 14,550 17,100 35,798 25,000 U. S. Govt, securities 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 Total collateral 28,499,363 1846,250 6,270,000 2031,015 2600,000 1996,650 1500,000 5300,000 1314,550 692,100 1115,798 808,000 3025,000 l/ After deducting $400,440,000 participations of other Federal Reserve Banks. 2/ After deducting $13,632,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis