H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• r' BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM H.4',1 (For Immediate Release) January 6, 1955 ' CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended January 5> Member bank reserves increased $333 million. The principal changes supplying reserves were decreases of $243 million in Treasury deposits with Federal Reserve Banks, $204 million in Money in circulation, $70 million in Other F. R. accounts (net), and $13 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $164 million in Reserve Bank credit and an increase of $31 million in Other deposits with Federal Reserve Banks. The decrease of $164 million in Reserve Bank credit resulted from decreases of $206 million in Loans, discounts and advances, $63 million in U. S. Government securities held under repurchase agreement, and $50 million in U. S. Government securities bought outright, and an increase of $156 million in Float. Holdings of U. S. Government securities bought outright reflected a decrease of $50 million in bills. Change since Member Bank Reserves Jan. 5, Dec. 29, Jan. 6 and Related Items 1955 195k 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,838 - 50 -480 Held under repurchase agreement - 63 - 66 — — Loans, discounts and advances 359 -206 +187 Float 1,010 +156 + 47 Total 26,207 -164 -312 Gold stock 21,712 -317 *" - Treasury currency outstanding 4,984 + 94 Money in circulation 30,434 -204 -157 Treasury cash holdings 813 + 4 + 43 Treasury deposits with F. R. Banks 222 -243 - - Foreign deposits with F. R. Banks 564 - 13 +124 Other deposits with F. R. Banks 401 + 31 + 4 Other F. R. accounts (net) 905 - 70 + 69 Member bank reserves 19,566 +333 -618 Required reserves (estimated) 18,566 - 29 -824 Excess reserves (estimated) 1,000 +362 +206 Daily averages for period-- Estimated excess reserves of member banks 687 + 22 -140 Member bank borrowings at F. R. Banks 239 " ^ +143 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,891 million, a decrease of $56 million for the week and an increase of $308 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 Jan. 5, Dec. 29, Jan. 6, 1955 1954 1954 A S S E TS Gold certificates 20,165,101 1 288,002 Redemption fund for F. R. notes 867,287 - 118 - 29,645 Total gold certificate reserves 21,032,388 • 119 - 317,647 F. R. notes of other Banks 214,746 + 7,940 - 17,288 Other cash 381,900 + 40,621 - 1,256 Discounts and advances 358,278 - 206,290 + 188,327 Industrial loans 703 + 81 — 1,228 U. S. Government securities: Bought outright— . Bills 2,117,000 50,000 479,312 Certificates 13,882,341 — - +8, 065,800 Notes 6,037,271 -7,226,400 » - Bonds 2,801,750 839,400 - Total bought outright 24,838,362 - 50,000 - 479,312 Held under repurchase agreement 63,000 66,000 «»— - - Total U. S. Government securities 24,838,362 113,000 545,312 - • Total loans and securities 25,197,343 - 319,209 * 358,213 Due from foreign banks 22 — — • — Uncollected cash items 4,148,926 + 44,973 + 134,154 Bank premises 54,741 - 106 + 2,286 Other assets 141,669 + 7,186 mm 18,719 TOTAL ASSETS 51,171,735 218,714 576,683 - * L I A B I L I T I ES Federal Reserve notes 26,179,145 151,242 227,114 ~ - Deposits: Member bank—reserve accounts 19,565,676 + 332,801 - 617,829 U. S. Treasurer—general account 221,672 - 243,779 + 56 Foreign 563,625 - 13,078 + 123,983 Other 400,708 + 30,287 + 4,057 Total deposits 20,751,681 + 106,231 - 489,733 Deferred availability cash items 3,139,058 - 110,797 + 87,535 Other liabilities and accrued dividends 14,050 - 8,933 - 3,158 TOTAL LIABILITIES 50,083,934 164,741 632,470 - - C A P I T AL A C C O U N TS Capital paid in 288,079 + 521 + 22,335 Surplus (Section 7) 660,901 35,888 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 111,278 - 90,382 - 2,436 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,171,735 - 218,714 - 576,683 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8# -- Contingent liability on acceptances purchased for foreign correspondents 19,194 + 15 5,439 Industrial loan commitments 1,144 807 2,364 - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 5, 1955 (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 223,670 17 625,750 16 to 90 days 41,275 177 5,503,250 91 days to 1 year 93,333 434 13,193,764 Over 1 year to 5 years 75 3,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 358,278 703 24,338,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 5, 1955 HA. 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 20,165,101 1038,271 5,482,559 1235,401 1655,659 1078,592 926,954 3583,222 793,564 412,210 818,674 801,365 2338,630 Redemption fund for F. R. notes 867,287 53,666 184,166 58,927 76,992 74,902 53,905 143,999 47,141 24,644 39,766 28,786 80,393 Total gold certificate reserves 21,032,388 1091,937 5,666,725 1294,328 1732,651 1153,494 980,859 3727,221 840,705 436,854 858,440 830,151 2419,023 F.R. notes of other Banks 214,746 13,370 48,710 10,610 13,799 20,654 39,521 21,135 8,067 7,632 6,104 9,749 15,395 Other cash 381,900 25,935 85,734 17,491 36,857 24,239 33,837 63,978 24,167 9,410 13,561 13,534 33,157 Discounts and advances 358,278 8,775 50,058 16,958 31,503 25,592 19,458 118,317 14,467 13,783 32,367 13,267 13,733 Industrial loans 703 607 96 U. S. Govt, securities: Bought outright— Bills 2,117,000 116,812 540,749 128,836 l8l,44l 124,687 107,821 370,090 88,586 51,988 91,335 83,186 231,469 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 24,838,362 1370,531 6,344,512 1511,613 2128,821 1462,930 1265,043 4342,193 1039,361 609,956 1071,626 975,999 2715,777 Held under repurchase agreement Total U. S. Government securities 24,838,362 1370,531 6,344,512 1511,613 2128,821 1462,930 1265,043 4342,193 1039,361 609,956 1071,626 975,999 2715,77? Total loans and securities 25,197,343 1379,306 6,394,570 1529,178 2160,324 1488,522 1284,501 4460,510 1053,828 623,835 1103,993 989,266 2729,510 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,148,926 294,148 7377630 225,070 379,000 330,895 303,788 692,278 208,269 117,566 252,618 233,501 374,163 Bank premises 54,741 5,919 7,149 5,164 5,260 4,495 3,879 6,281 2,832 1,007 2,526 1,133 9,096 Other assets 141,669 7,350 34,780 8,290 11,756 8,212 7,867 26,221 6,149 3,352 6,362 6,118 15,212 TOTAL ASSETS 51,171,735 2817,966 12,975,304 3090,133 4339,649 3030,512 2654,253 8997,627 2144,018 1199,657 2243,605 2083,453 5595,558 l/ After deducting $l6,000 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 JANUARY 5, 1955 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 26,179,145 1604,135 5,916,117 1836,206 2415,822 1857,113 1390,359 5048,328 1173,474 583,552 1027,500 740,203 2586,336 Deposits: Member bank-reserve accts. 19,565,676 846,452 5,721,633 922,962 1471,282 803,468 927,578 3226,035 733,920 464,074 929,027 1059,487 2459,758 U.S.Treasurer-general acct 221,672 11,073 29,218 18,955 23,067 25,117 18,657 14,787 20,279 15,762 29,355 14,050 1,352 Foreign 563,625 33,120 1/172,791 40,296 50,232 27,600 23,736 77,280 20,976 13,800 20,976 25,944 56,874 Other 400,708 7,858 302,337 11,645 9,523 3,059 3,549 3,693 8,410 1,087 6,821 846 41,880 Total deposits 20,751,681 898,503 6,225,979 993,858 1554,104 859,244 973,520 3321,795 783,585 494,723 986,179 1100,327 2559,864 Deferred avail, cash items 3,139,058 248,526 519,001 179,867 269,732 256,406 240,796 473,734 143,155 92,313 186,830 191,149 337,549 Other liabilities and accrued dividends 14,050 578 5,320 697 1,222 619 537 2,435 428 402 478 396 938 TOTAL LIABILITIES 50,083,934 2751,742 12,666,417 3010,628 4240,880 2973,382 2605,212 8846,292 2100,642 1170,990 2200,987 2032,075 5484,68? Capital paid in 288,079 15,001 89,989 19,059 27,400 12,624 12,246 38,403 9,955 6,375 10,940 14,513 31,574 Surplus (Section 7) 660,901 40,309 188,070 47,773 60,222 33,480 29,480 96,566 26,619 16,918 24,755 29,985 66,724 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 111,278 7,903 23,509 8,184 10,141 7,677 6,553 14,937 6,281 4,301 5,786 5,573 10,433 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,171,735 2817,966 12,975,304 3090,133 4339,649 3030,512 2654,253 8997,627 2144,018 1199,657 2243,605 2083,453 5595,558 Contingent liability on acceptances purchased for foreign correspondents 19,194 1,152 2/5,600 1,401 1,747 960 826 2,688 730 480 730 902 1,978 Industrial loan commitments 1,144 134 598 39 104 17 252 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,273,013 1666,101 6,166,918 1913,296 2554,451 1930,732 1461,336 5181,089 1222,211 621,840 1059,322 787,439 2708,278 Collateral for F.R. notes: Gold certificates 11,208,000 640,000 2,26,7607,00,0000 08 0800,00,0000 0105 100,5000,0000 667755,,000000 50 500,000,0000 22440000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 74,075 775 — 7,225 — 18,925 —- 9,400 10,450 27,300 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 28,422,075 1840,775 6,270,000 2007,225 2600,000 1993,925 1500,000 5300,000 1309,400 685,450 1107,300 808,000 3000,000 1/ After deducting $390,816,000 participations of other Federal Reserve Banks. 2/ After deducting $13,594,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis