H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) February 3, 1955 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 2, Member bank reserves increased $209 million. The principal changes supplying reserves were an increase of $534 million in Reserve Bank credit and a decrease of $15 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $235 million in Other deposits with Federal Reserve Banks and $107 million in Treasury deposits with Federal Reserve Banks. The increase of $534 million in Reserve Bank credit resulted frdm increases of $235 million in Loans, discounts and advances, $231 million in U. S. Government securities bought outright, $48 million in Float, and $21 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected an increase of $231 million in bills. Change since Member Bank Reserves Feb. 2 Jan. 26, Feb. 3, and Related Items 1955 1955 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 23,902 +231 -815 Held under repurchase agreement 24 + 21 - 33 Loans, discounts and advances 681 +235 +164 Float 655 + 48 + 86 Total 25,262 +534 -598 Gold stock 21,714 -242 Treasury currency outstanding 4,988 + 89 Money in circulation 29,758 + 6 -172 Treasury cash holdings 834 — — + 27 Treasury deposits with F. R. Banks 503 +107 + 46 Foreign deposits with F. R. Banks 419 - 15 - 58 Other deposits with F. R. Banks 455 +235 +110 Other F. R. accounts (net) 898 - 3 + 69 Member bank reserves 19,099 +209 -771 Required reserves (estimated) 18,409 - 42 -680 Excess reserves (estimated) 690 +251 - 91 Daily averages for period-- Estimated excess reserves of member banks 555 - 81 +127 Member bank borrowings at F. R. Banks 401 + 76 +190 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,884 million, a decrease of $140 million for the week and an increase of $252 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 Feb. 2, Jan. 26, Feb. 3, WW 1955 1954 A S S E TS Gold certificates 20,174,102 + 1 - 210,000 Redemption fund for F. R. notes 863,797 - 1 - 26,206 Total gold certificate reserves 21,037,899 — — - 236,206 F. R. notes of other Banks 212,679 - 25,119 + 6,629 Other cash 470,363 + 8,565 + 7,492 Discounts and advances 680,229 + 234,225 + 164,984 Industrial loans 577 + 95 - 1,365 U. S. Government securities: Bought outright— Bills 11,,118800,,664444 + 230,900 ~ 881144,,993311 Certificates 13,882,341 - - 1,065,800 Notes 6,037,271 - - .7,226,400 Bonds 2,801,750 - - - 839,400 Total bought outright 23,902,006 + 230,900 814,931 - Held under repurchase agreement 24,000 + 21,000 - 32,900 Total U. S. Government securities 23,926,006 + 251,900 - 847,831 „ Total loans and securities 24,606,812 486,220 684,212 Due from foreign banks 22 — — — — Uncollected cash items 3,889,315 - 88,583 + 347,686 Bank premises 55,317 + 336 + 2,517 Other assets 169,965 + 6,806 - 25,662 TOTAL ASSETS 50,442,372 + 388,225 581,756 - L I A B I L I T I ES Federal Reserve notes 25,609,959 - 14,039 - 214,674 Deposits: Member bank—reserve accounts 19,099,110 + 208,870 - 770,411 U. S. Treasurer--general account 502,858 + 107,201 + 45,655 Foreign 418,887 - 15,308 - 58,109 Other 454,641 + 234,347 + 109,604 Total deposits 20,475,496 + 535,110 - 673,261 Deferred availability cash items 3,234,083 136,906 + 261,247 - Other liabilities and accrued dividends I4,4l8 - 1,057 - 679 TOTAL LIABILITIES 49,333,956 + 383,109 - 627,367 C A P I T AL A C C O U N TS Capital paid in 290,534 + 368 + 22,115 Surplus (Section 7) 660,901 + 35,888 — — Surplus (Section 13b) 27,543 - - — Other capital accounts 129,438 + 4,749 - 12,392 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,442,372 4" 388,225 581,756 ~ Ratio of gold certificate reserves to deposit M and F. R. note liabilities combined 45.6% - + ••33** Contingent liability on acceptances purchased for foreign correspondents 23,388 + 1,933 + 7,056 Industrial loan commitments 3,193 - 95 - 232 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 2, 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 481,666 17 4,274,794 l6 to 90 days 118,529 93 941,850 91 days to 1 year 80,040 394 13,193,764 Over 1 year to 5 years 73 3,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRTAoSEtRa l 680,229 577 23,926,006 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 2, 1955 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 20,174,102 979,642 5,453,887 1224,596 1717,041 1132,634 848,967 3559,509 812,688 410,158 825,828 770,884 2438,268 Redemption fund for F. R. notes 863,797 53,522 183,391 58,607 76,736 73,874 5533,,771166 114433,,772200 47,045 24,595 3399,,668899 2288,,770033 8800,,119999 Total gold certificate reserves 21,037,899 1033,164 5,637,278 1283,203 1793,777 1206,508 902,683 3703,229 859,733 434,753 865,517 799,587 2518,467 F.R. notes of other Banks 212,679 11,797 40,490 6,917 12,423 24,219 57,080 16,627 6,873 5,148 4,854 11,247 15,004 Other cash 470,363 35,437 109,524 24,113 46,828 25,039 41,322 74,745 25,328 10,628 15,177 15,067 47,155 Discounts and advances 680,229 19,500 171,450 17,255 33,140 25,185 54,685 187,467 30,960 17,500 61,512 24,640 36,935 Industrial loans 577 — 483 -- — — 94 - — " -- U. S. Govt, securities: Bought outright— Bills 1,180,644 65,146 301,574 71,851 101,189 69,537 6600,,113311 220066,,339988 49,405 2288,,999944 50,937 4466,,339922 129,090 Certificates 13,882,341 765,999 3,545,994 844,852 1189,8l4 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 23,902,006 1318,865 6,105,337 1454,628 2048,569 1407,780 1217,353 4178,501 1000,180 586,962 1031,228 939,205 2613,398 Held under repurchase agreement 24,000 — — 24,000 - - - — - - - - - - - * - - - - - ~ — Total U. S. Government securities 23,926,006 1318,865 6,129,337 1454,628 2048,569 1407,780 1217,353 4178,501 1000,180 586,962 1031,228 939,205 2613,398 Total loans and securities 24,606,812 1338,365 6,300,787 1472,366 2081,709 1432,965 1272,038 4365,968 1031,140 604,556 1092,740 963,845 2650,333 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 l 1 1 2 Uncollected cash items 3,889,315 296,270 711,838 242,704 349,072 317,628 295,192 594,680 175,012 107,181 191,982 197,800 409,956 Bank premises 55,317 5,899 7,129 5,235 5,254 4,476 3,865 6,261 2,827 1,001 2,975 1,178 9,217 Other assets 169,965 8,895 42,176 9,913 14,511 9,897 9,405 31,091 7,296 4,096 7,206 7,l6l 18,318 TOTAL ASSETS 50,442,372 2729,828 12,849,228 3044,453 4303,576 3020,733 2581,586 8792,604 2108,210 1167,364 2180,452 1995,886 5668,452 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 FEBRUARY 2, 1955 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 25,609,959 1559,774 5,765,772 1796,499 2362,973 1824,218 1353,814 4962,456 1155,523 572,56? 1016,073 721,042 2519,246 Deposits: Member bank-reserve accts. 19,099,110 772,484 5,663,042 905,605 1472,098 807,170 873,139 3036,602 697,694 442,166 906,376 995,454 2527,28( U.S.Treasurer-general acct 502,858 33,938 80,565 27,695 40,866 38,080 22,402 81,268 31,222 21,146 34,438 34,625 56,61: Foreign 418,887 24,660 1/127,880 30,003 37,401 20,550 17,673 57,540 15,618 10,275 15,618 19,317 42,352 Other 5,814 2,042 16,546 1,359 6,391 2,037 42,431 Total deposits 20,475,496 836,896 6,226,937 973,458 1556,734 869,252 915,803 3177,452 761,080 474,946 962,823 1051,433 2668,682 Deferred avail, cash items 3,234,083 265,434 537,256 192,934 281,855 268,157 261,227 494,849 147,089 90,350 115577,,663300 117700,,779999 336666,,5500;; Other liabilities and accrued dividends 14,418 613 4,666 714 1,703 576 549 2,610 432 381 484 459 1,233 TOTAL LIABILITIES 49,333,956 2662,717 12,534,631 2963,605 4203,265 2962,203 2531,393 8637,367 2064,124 1138,244 2137,010 1943,733 5555,664 Capital paid in 290,534 15,042 90,516 19,278 27,423 13,014 12,539 38,773 10,075 6,450 11,050 14,700 31,67% 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 2,14( Other capital accounts 129,438 8,749 28,692 9,308 11,660 8,687 7,412 18,469 6,871 4,679 6,500 6.161 12.25C TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,442,372 2729,828 12,849,228 3044,453 4303,576 3020,733 2581,586 8792,604 2108,210 1167,364 2180,452 1995,886 5668,452 Contingent liability on acceptances purchased for foreign correspondents 23,388 1,404 2/6,821 1,708 2,130 1,170 1,006 3,276 889 585 889 1,100 2,4lC Industrial loan commitments 3,193 257 598 39 101 16 2,182 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,784,965 1652,211 5,998,592 1884,058 2505,819 1902,451 1428,772 5114,619 1208,663 616,381 1047,481 770,953 2654,96; 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 1380,00C Eligible paper 162,407 12,300 — 8,495 — 19,185 — — 26,400 14,500 56,952 24,575 U. S. Govt, securities 17,115,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2900,0% 920,000 500,000 800,000 525,000 I620,00C Total collateral 28,485,407 1852,300 6,270,000 2008,495 2600,000 1994,185 1500,000 5300,000 1301,400 689,500 1136,952 808,000 3024,575 1/ After deducting $290,988,000 participations of other Federal Reserve Banks. 2/ After deducting $16,567,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis *