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 24, 1955 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 23 > Member bank reserves decreased $424 million. The principal changes reducing reserves were a decrease of $403 million in Reserve Bank credit and increases of $59 million in Treasury deposits with Federal Reserve Banks, $50 million in Money in circulation ,and $13 million in Other deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $99 million in Foreign deposits with Federal Reserve Banks. At the end of the week Member bank reserve samounted to $18,479 million, of which $372 million were estimated as excess reserves. The decrease of $403 million in Reserve Bank credit resulted from decreases of $259 million in Float and $144 million in Loans, discounts and advances. Change since Member Bank Reserves Feb. 23, Feb. 16, Feb. 24, and Related Items 1955 1955 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 23,732 — -827 Held under repurchase agreement Loans, discounts and advances 392 -144 +142 Float 544 —259 + 41 Total 24,668 -403 -644 Gold stock 21,716 + 1 -242 Treasury currency outstanding 4,992 +3 + 86 Money in circulation 29,793 + 50 - 45 Treasury cash holdings 828 - 2 + 4 Treasury deposits with F. R. Banks 554 +59 +45 Foreign deposits with F. R. Banks 329 - 99 -132 Other deposits with F. R. Banks 432 +13 +73 Other F. R. accounts (net) 960 +2 +49 Member bank reserves 18,479 -424 -794 Required reserves (estimated) 18,107 -148 -746 Excess reserves (estimated) 372 -276 - 48 Daily averages for period-- Estimated excess reserves of member banks 565 + 36 -137 Member bank borrowings at F. R. Banks 273 +6 +73 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account, were $2,966 million, a decrease of $12 million for the week and an increase of $275 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. 23, Feb. TBI Feb. 24, 1955 1955 1954 A S S E TS Gold certificates 20,174,102 - 214,996 Redemption fund for F, R. notes 857,767 3,170 - 22,887 Total gold certificate reserves 21,031,869 3,170 - 2377885 F. R. notes of other Banks 196,297 18,735 + 13,867 Other cash 439,748 15,345 7,590 Discounts and advances 391,538 143,676 + 142,991 Industrial loans 430 87 1,163 U. S. Government securities: Bought outright— Bills 1,010,644 - 827,131 Certificates 9,960,141 +3,908,950 Notes 9,959,471 -3,069,550 Bonds 2,801,750 - 839,400 Total bought outright 23,732,006 ~827,131 Held under repurchase agreement Total U. S. Government securities 23,732,006 - 827 131 Total loans and securities 24,123,974 - 143,763 - 685,303 Due from foreign banks 22 Uncollected cash items 3,870,950 - 879,671 + 73,975 Bank premises 55,500 46 + 2,625 Other assets 125,336 ± h900 - 12,321 TOTAL ASSETS 49,843,696 -1,054,830 - 852,632 L I A B I L I T I ES Federal Reserve notes 25,581,868 + 8,304 - 115,945 Deposits: Member bank—reserve accounts 18,479,458 - 423,581 793,795 U. S. Treasurer--general account 553,863 + 59,238 44,944 Foreign 328,979 - 98,621 132,212 Other 431,748 + 13,145 72,383 Total deposits 19,794,048 - 449,819 808,680 Deferred availability cash items 3,327,199 - 620,523 33,117 Other liabilities and accrued dividends 15,891 + 1,844 1,690 TOTAL LIABILITIES 48,719,006 -1,060,194 893,198 C A P I T AL A C C O U N TS Capital paid in 293,202 1,085 + 23,629 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 143,044 ± )hm - 18,951 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,843,696 -1,054,830 - 852,632 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.4# + • 5% + >5$ Contingent liability on acceptances purchased for foreign correspondents 25,901 + 806 + 15,618 Industrial loan commitments 3,330 + 85 + 15 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 23, 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 265,255 15 173,000 16 to 90 days 59,596 99 2,524,010 91 days to 1 year 66,687 244 11,507,398 Over 1 year to 5 years 72 7,099,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.stlouisTfeodt.oargl/ 391,538 430 23,732,006 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 23, 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 1007,347 5,391,295 1221,884 1732,498 1159,520 862,787 3683,908 817,444 411,808 807,616 758,071 2319,924 Redemption fund for F. R. notes 857,767 53,216 182,050 58,042 76,277 72,035 53,423 143,243 46,900 24,533 39,569 28,593 79,886 Total gold certificate reserves 21,031,869 1060,563 1279,926 1808,775 5,573,345 1231,555 916,210 3827,151 864,344 436,341 847,185 786,664 2399,810 F.R. notes of other Banks 196,297 6,651 36,769 5,817 11,567 8,385 73,167 13,408 5,886 2,967 6,189 8,889 16,602 Other cash 439,748 33,968 98,365 18,887 44,523 20,565 40,973 69,044 24,551 10,077 14,653 15,360 48,782 Discounts and advances 391,538 23,412 57,777 27,337 34,657 34,349 22,892 70,040 20,733 19,412 39,554 19,383 21,992 Industrial loans 430 337 93 U. S. Govt, securities: Bought outright— Bills 1,010,644 55,764 258,151 61,505 86,620 59,525 51,473 176,679 42,291 24,819 43,604 39,712 110,501 Certificates 9,960,141 549,581 2,544,138 606,155 853,653 586,633 507,280 1741,212 416,782 244,591 429,720 391,374 1089,022 Notes 9,959,471 549,544 2,543,968 606,113 853,596 586,593 507,246 1741,095 416,754 244,575 429,691 391,347 1088,949 Bo T n o d t s a l OH 2 , 7 8 M 01 , M 7 i 5 0 £L 7 ss 1 tZ 5 i , ) 6 • 5 7 it 1 , 7 0 L , I 5 . 0 9 A Q« 2 40,130 165,017 142,696 489,796 117.239 68,802 120,879 110,092 306,338 Held under repurchase agreement Total U. S. Government securities ' 23,732,006 1309,484 6,061,91k 1444,282 1397,768 993,066 582,787 1023,894 932,525 2594,810 2033,999 1208.695 4148.782 Total loans and securities 24,123,974 1332,896 6,119,691 1471,956 2068,656 1432,117 1231,587 4218,822 1013,799 602,292 1063,448 951,908 2616,802 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 12,609,587 3038,822 4321,341 3018,958 2560,598 8741,610 1167,540 2127,894 1969,920 5480,238 49,843,696 2751,589 2055,599 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 23, 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 25,581,868 1559,667 5,760,990 1800,758 2362,206 1819,517 1336,999 4966,793 1152,749 569,462 1013,519 720,395 2518,813 Deposits: Member bank-reserve accts. 18,479,458 778,453 5,404,439 858,967 1421,810 786,500 860,894 2954,267 682,232 433,061 893,314 965,984 2439,537 U.S.Treasurer-general acct. 553,863 27,171 75,921 39,862 57,364 40,891 54,882 80,221 32,177 42,942 38,379 29,234 34,819 Foreign 328,979 18,960 1/105,232 23,068 28,756 15,800 13,588 44,240 12,008 7,900 12,008 : 14,852 32,567 Other 1,795 Total deposits 19,794,048 827,577 5,933,768 937,604 1513,453 845,976 931,049 3081,192 732,743 485,698 946,604 1011,384 2547,000 Deferred avail, cash items 3,327,199 295,427 591,440 218,028 342,187 293,449 240,931 533,284 124,990 82,326 123,000 184,457 297,680 X)ther liabilities and accrued dividends 15,891 722 4,890 710 1,634 726 689 2,530 551 610 604 8o4 1,421 TOTAL LIABILITIES 48,719,006 2683,393 12,291,088 2957,100 4219,480 2959,668 2509,668 8583,799 2011,033 1138,096 2083,727 1917,o4o 5364,914 Capital paid in 293,202 15,519 90,703 19,342 27,818 13,068 12,639 38,831 10,100 6,479 11,178 14,964 32,561 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 2,140 Other capital accounts 143,044 9,357 32,407 10.118 12,815 9,393 8,049 20,985 7,326 4,974 7.097 6,624 13,899 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,843,696 2751,589 12,609,587 3038,822 4321,341 3018,958 2560,598 8741,610 2055,599 1167,540 2127,894 1969,920 5480,238 Contingent liability on acceptances purchased for foreign correspondents 25,901 1,554 2/7,564 1,891 2,357 1,295 1,114 3,626 984 647 984 1,217 2,668 Industrial loan commitments 3,330 402 598 35 100 15 2,180 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,603,738 1637,940 5,968,090 1873,112 2497,197 1876,680 1403,476 5089,846 1199,866 614,799 1042,068 764,142 2636,522 Collateral for F.R. notes: Gold certificates 11,208,000 640,000 2,670,000 880000,0,00000 11005500,,000000 667755,,000000 550000,,000000 22440000,,000000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 139,139 16,412 18,820 — 28,516 — — 16,300 16,495 35,121 - 7,475 U. S. Govt, securities 17,065,000 1200.000 3,600,000 1200,000 1500,000 1300,000 1000,000 2900,000 920,000 500,000 800,000 525,000 1620,000 Total collateral 28,412,139 1856,412 6,270,000 2018,820 2550,000 2003,516 1500,000 5300,000 1291,300 691,495 1115,121 808,000 3007,475 l/ After deducting $223,728,000 participations of other Federal Reserve Banks. 2/ After deducting $18,337,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i