H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) January 27, 1955 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended January 26, Member bank reserves decreased $176 million. The principal changes reducing reserves were a decrease of $35*+ million in Reserve Bank credit and an increase of $236 million in Treasury Deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $207 million in Money in circulation, $171 million in Other deposits with Federal Reserve Banks, and $4l million in Foreign deposits with Federal Reserve Banks. The decrease of $35*+ million in Reserve Bank credit resulted from decreases of $268 million in Float, $228 million in U. S. Government securities bought outright, and $7 million in U. S. Government securitie sheld under repurchase agreement, and an increase of $148 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $228 million in bills. Change since Member Bank Reserves Jan. 26, Jan. 19, Jan. 27, and Related Items 1955 1955 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 23,671 -228 -990 Held under repurchase agreement 3 - 7 + 3 Loans, discounts and advances 446 +148 +334 Float 607 -268 -115 Total 24,728 -354 -767 Gold stock 21,714 — - -292 Treasury currency outstanding 4,985 -- + 95 Money in circulation 29,752 -207 -148 Treasury cash holdings 834 + 7 + 39 Treasury deposits with F. R. Banks 396 +236 +160 Foreign deposits with F. R. Banks 434 - 41 - 59 Other deposits with F. R. Banks 220 -171 - 58 Other F. R. accounts (net) 901 - 1 + 70 Member bank reserves 18,890 -176 -969 Required reserves (estimated) 18,459 + 24 -759 Excess reserves (estimated) 431 -200 -210 Daily averages for period-- Estimated excess reserves of member banks 628 -147 -510 Member bank borrowings at F. R. Banks 325 + 13 +249 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,024 million, an increase of $48 million for the week and an increase of $4-50 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 OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan, 26, Jan. 19, Jan. 27, 1955 1955 1954 A S S E TS Gold certificates 20,174,101 - 255,001 Redemption fund for F. R. notes 863,798 - 26,320 Total gold certificate reserves 21,037,899 - 201,321 F, R. notes of other Banks 237,798 + 9,204 + 18,354 Other cash 461,798 + 26,975 5,698 Discounts and advances 446,004 + 148,406 + 335,538 Industrial loans 482 90 1,413 U. S, Government securities: Bought outright— Bills 949,744 - 228,200 - 989,256 Certificates 13,882,341 +8,065,800 Notes 6,037,271 -7,226,400 Bonds 2,801,750 - 839,400 Total bought outright 23,671,106 - 228,200 - 989,256 Held under repurchase agreement . 3,000 6,500 + 3,000 Total 0. S. Government securities 23,674,106 - 234,700 - 906,256 Total loans and securities 24,120,592 86,384 - 652,131 Due from foreign banks " 22 Uncollected cash items 3,977,898 - 531,548 + 85,689 Bank premises 54,981 + 50 + 2,091 Other assets 163,159 + 7,150 24,140 TOTAL ASSETS 50,054,147 - 575,970 - 057,156 L I A B I L I T I ES Federal Reserve notes 25,623,998 - 165,809 - 181,094 Deposits: Member bank--reserve accounts 18,890,240 - 176,102 - 968,752 U. S. Treasurer—general account 395,657 + 236,087 + 159,928 Foreign 434,195 - 41,284 - 58,405 Other 220,294 - 171,016 - 57,609 Total deposits 19,940,306 - 152,315 - 924,838 Deferred availability cash items 3,370,989 - 263,604 + 201,066 Other liabilities and accrued dividends 15,475 +——J21 : 1*247 TOTAL LIABILITIES 40,950,848 - 501,133 - 906,113 C A P I T AL A C C O U N TS Capital paid in 290,166 713 + 22,983 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 124,689 4,450 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,054,147 - 575,970 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.2# + .3$ + .5$ Contingent liability on acceptances purchased for foreign correspondents 21,455 + 24l + 3,188 Industrial loan commitments 3,288 + 97 - 225 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 26, 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 M "TWIT 80 Lfr ^\rr -.^° % y y Over 5 years to 10 years - :: l Oii'Sk Over 10 years ~ 8s? Digitized for FRASER http://fraser.s T tl o ou t is a f l ed .4or4g/6 ,004 462 ' 2 3 :% 1% Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 26, 1955 H.U.l(b) (In thousands of dollars) A S S E TS Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran, Gold certificates 20,174,101 994,961 5,110,971 1239,128 1750,328 1135,311 901,637 3795,016 811,073 428,772 839,691 801,134 2366,075 Redemption fund for F. R. notes 863,798 53,523 183,391 58,607 76,736 73,874 53,716 143,720 47,045 24,595 39,689 28,703 80,19S Total gold certificate reserves 21,037,899 1048,484 5,294,362 1297,735 1827,064 1209,185 955,353 3938,736 858,118 453,367 879,380 829,837 2446,27* F.R. notes of other Banks 237,798 13,553 49,726 7,103 12,310 26,050 55,802 18,843 10,591 6,693 6,524 12,716 17,881 Other cash 461,798 33,046 111,352 22,123 48,270 24,209 36,555 72,682 25,873 10,295 15,198 14,695 47,50C Discounts and advances 446,004 20,557 57,285 10,925 40,445 20,400 44,300 90,417 35,900 6,175 55,700 27,875 36,025 Industrial loans 482 388 94 U. S. Govt, securities: Bought outright— Bills 949,744 52,405 242,595 57,799 81,400 55,938 48,371 166,032 39,743 23,323 40,975 37,320 103,84] 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 68,802 120,879 110,092 306,336 Total 23,671,106 1306,124 6,046,358 1440,576 2020,780 1394,161 1205,593 4138,135 990,518 581,291 1021,266 930,133 2588,151 Held under repurchase agreement 3,000 — — 3,000 — — — — «• «•» mm Total U. S. Government securities 23,674,106 1306,124 6,049,358 1440,576 2028,780 1394,181 1205,593 4138,135 990,518 581,291 1021,266 930,133 2588,151 Total loans and securities 24,120,592 1326,681 6,106,643 1451,889 2069,225 1414,581 1249,893 4228,552 1026,4l8 587,560 1076,966 958,008 2624,176 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,977,898 302,733 746,033 231,302 355,205 322,392 309,171 626,966 161,060 104,573 206,079 219,930 392,454 Bank premises 54,981 5,899 7,151 5,235 5,261 4,476 3,865 6,281 2,832 1,008 2,574 1,182 9,217 Other assets 163,159 8,664 40,362 9,594 13,885 9,432 8,890 29,791 6,934 3,891 7,238 6,999 17,479 TOTAL ASSETS 50,054,147 2739,061 12,355,635 3024,983 4331,222 3010,326 2619,530 8921,854 2091,827 1167,388 2193,960 2043,368 5554,993 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 Oil JANUAR Y26, 195 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 2 5 , 6 2 3 , 9 98 1564,920 5 , 7 7 3 , 7 51 1 8 0 0 , 7 96 2 3 6 8 , 7 68 1 8 1 9 , 1 29 1 3 5 3 , 6 19 4 9 6 7, 8 28 1 1 5 5 , 5 96 5 7 3 , 3 81 1 0 1 1 , 9 78 7 2 5 , 4 14 2508,816 Deposits: Member bank-reserve accts. 7 6 8 , 6 29 8 7 9 , 2 81 8 8 5 , 2 22 3 1 6 6 , 8 58 7 0 5 , 0 53 1 8 , 8 9 0 , 2 40 5 , 3 5 5 , 4 67 1 4 6 9 , 6 59 8 0 2 , 8 83 4 4 3 , 8 99 9 1 2 , 3 55 1 0 2 4 , 4 95 2476,435 U.S.Treasurer-general acct 3 9 5 , 6 57 2 8 , 9 42 5 4 , 6 65 2 6 , 8 85 2 7 , 7 72 3 4 , 0 61 3 2 , 6 11 4 0 , 9 62 2 4 , 2 44 1 4 , 8 88 3 7 , 9 46 3 2 , 2 91 4o,39C Foreign 1 8 , 1 46 5 9 , 0 80 1 6 , 0 36 1 0 , 5 50 1 6 , 0 36 4 3 4 , 1 95 2 5 , 3 20 1 / 1 3 5 , 4 00 3 0 , 8 06 3 8 , 4 02 2 1 , 1 00 1 9 , 8 34 4 3 , 4 8; Other 6 17 39,5% 2 2 0 , 2 94 6 , 3 36 1 4 0 , 2 15 1 0 , 1 26 6 , 4 88 2 , 9 02 1, 0 73 3 , 2 50 6 , 2 23 1 , 3 01 2 , 1 71 Total deposits 8 2 9 , 2 27 4 7 0 , 6 38 9 6 8 , 5 08 1 9 , 9 4 0 , 3 86 5 , 6 8 5 , 7 47 9 4 7 , 0 98 1 5 4 2 , 3 21 8 6 0 , 9 46 9 3 7 , 0 52 3 2 7 0 , 1 50 7 5 1 , 5 56 1 0 7 7 , 2 37 2599,906 Deferred avail, cash items 3 , 3 7 0 , 9 89 277,416 5 7 7 , 5 19 1 9 5 , 9 55 3 1 8 , 6 28 2 7 1 , 4 85 2 7 8 , 3 61 5 2 7 , 0 54 1 4 0 , 3 03 9 3 , 7 70 1 6 9 , 6 71 1 8 8 , 1 22 3 3 2 , 7 0; Other liabilities and accrued dividends 1 5 , 4 75 6 49 5 , 4 98 5 96 1 , 6 12 666 5 60 2 , 5 09 493 556 505 595 1,236 TOTAL LIABILITIES 4 8 , 9 5 0 , 8 48 2 6 7 2 , 2 12 1 2 , 0 4 2 , 5 15 2944,445 4 2 3 1 , 3 29 2 9 5 2 , 2 26 2 5 6 9 , 5 92 8 7 6 7 , 5 41 2 0 4 7 , 9 48 1 1 3 8 , 3 45 2 1 5 0 , 6 62 1 9 9 1 , 3 68 5 4 4 2 , 6 6; Capital paid in 2 9 0 , 1 66 1 5 , 0 21 9 0 , 5 57 1 9 , 2 69 2 7 , 3 86 1 2 , 8 65 1 2 , 5 15 3 8 , 7 31 1 0 , 0 63 6 , 4 45 11,046 14,651 3 1 , 6 11 Surplus (Section 7) 6 6 0 , 9 01 4 0 , 3 09 1 8 8 , 0 70 4 7 , 7 73 6 0 , 2 22 3 3 , 4 80 2 9, 4 80 9 6 , 5 66 2 6 , 6 19 1 6 , 9 18 24,755 2 9 , 9 85 6 6 , 7 21 Surplus (Section 13b) 2 7 , 5 43 3, 0 11 7 , 3 19 4 , 4 89 1 , 0 06 3 , 3 49 762 1 , 4 29 5 21 1 , 0 73 1 , 1 37 1 , 3 07 2 , i 4( Other capital accounts 6 , 6 76 4 , 6 07 6 , 3 60 6 , 0 57 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5 0 , 0 5 4 , 1 47 2 7 3 9 , 0 61 1 2 , 3 5 5 , 6 35 3 0 2 4 , 9 83 4 3 3 1 , 2 22 3 0 1 0 , 3 26 2 6 1 9 , 5 30 8 9 2 1 , 8 54 2 0 9 1 , 8 27 1 1 6 7 , 3 88 2 1 9 3 , 9 60 2 0 4 3 , 3 68 5 5 5 4, 9 9: Contingent liability on acceptances purchased for foreign correspondents 2 1, 4 55 1 , 2 90 2 / 6 , 2 33 1 , 5 69 1 , 9 56 1 , 0 75 924 3 , 0 10 817 538 8 17 1 , 0 11 2 , 2 1; Industrial loan commitments 3 , 2 88 - - - 352 598 39 1 01 16 - -- 2 , 1 82 --- - - - FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2 6 , 9 0 2 , 2 52 1 6 5 4 , 6 09 6 , 0 5 0 , 5 48 1 8 9 3 , 3 38 2 5 1 5 , 6 53 1 9 0 3 , 6 92 1 4 4 2 , 5 82 5 1 2 4 , 2 26 1 2 1 2 , 2 00 6 1 8 , 1 64 1 0 4 8 , 6 4o 7 7 3 , 3 32 2 6 6 5 , 2 6f Collateral for F.R. notes: Gold certificates 1 1 , 2 0 8 , 0 00 6 4 0 , 0 00 2 , 6 7 0 , 0 00 8 0 0 , 0 00 1 0 5 0 , 0 00 6 7 5 , 0 00 5 0 0 , 0 00 2 4 0 0 , 0 00 3 5 5 , 0 00 1 7 5 , 0 00 2 8 0 , 0 00 2 8 3 , 0 00 1380,OCX Eligible paper 1 3 7 , 3 07 1 3 , 0 57 — 1 , 8 00 - -- 1 4 , 1 50 - ~ - 3 1 , 1 50 3 , 0 50 5 0 , 9 50 -- - 23,15c U. S. Govt, securities 1 7 , 1 1 5 , 0 00 1 2 0 0 , 0 00 3 , 6 0 0 , 0 00 1 2 0 0 , 0 00 1 5 5 0 , 0 00 1 3 0 0 , 0 00 1 0 0 0 , 0 00 2 9 0 0 , 0 00 9 2 0 , 0 00 5 0 0 , 0 00 8 0 0 , 0 00 5 2 5 , 0 00 1 6 2 0 , 0 0c Total collateral 28,460,30~1853,057 6 , 2 7 0 , 0 00 2 0 0 1 , 8 00 2 6 0 0 , 0 00 1 9 8 9 , 1 50 1 5 0 0 , 0 00 5 3 0 0 , 0 00 1 3 0 6 , 1 50 6 7 8 , 0 50 1 1 3 0 , 9 50 8 0 8 , 0 00 3023,15^ l/ After deducting $298,776,000 participations of other Federal Reserve Banks. 2/ After deducting $15,222,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis