H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) March 10, 1955 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 9> Member bank reserves decreased $34 million. The principal changes reducing reserves were a decrease of $99 million in Reserve Bank credit and increases of $63 million in Foreign deposits with Federal Reserve Banks and $40 million in Money in circulation. The principal offsetting changes were decreases of $89 million in Treasury deposits with Federal Reserve Banks and $69 million in Other deposits with Federal Reserve Banks. At the end of the week Member bank reserves amounted to $ >521 million of which $455 million were estimated as excess reserves. The decrease of $99 million in Reserve Bank credit resulted from a decrease of $202 million in Float and an increase of $102 million in Loans, discounts and advances. Change since Member Bank Reserves larch 9, March 2, March 10, and Related Items 1955 1955 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 23,604 -- -1,078 Held under repurchase agreement Loans, discounts and advances 488 +102 + 75 Float 621 -202 + 78 Total 24,714 - 99 - 924 Gold stock 21,717 + 1 - 246 Treasury currency outstanding 4,995 + 78 Money in circulation 29,816 + 4o - 54 Treasury cash holdings 827 - 8 + 7 Treasury deposits with F. R. Banks 500 - 89 + 53 Foreign deposits with F. R. Banks 392 + 63 - 95 Other deposits with F. R. Banks 417 - 69 + 71 Other F. R. accounts (net) 953 - 2 + 46 Member bank reserves 18,521 - 34 -1,119 Required reserves (estimated) 18,066 -127 - 726 Excess reserves (estimated) 455 + 93 - 393 Daily averages for period— Estimated excess reserves of member banks 514 + 31 - 164 Kernber bank borrowings at F. R. Banks 371 - 12 + 135 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,971 million, a decrease of $8 million for the week and an increase of $230 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 March 9, March 2, March 10, 1955 1955 1954 A S S E TS Gold certificates 20,178,104 + 4,003 - 220,997 Redemption fund for F. R. notes 853,248 4,518 - 22,218 Total gold certificate reserves 21,031,352 515 - 243,215 F. R. notes of other Banks 205,483 7,547 + 33,751 Other cash 420,292 - 21,370 6,084 Discounts and advances 487,936 + 102,536 + 76,594 Industrial loans 475 52 1,185 U. S. Government securities: Bought outright— Bills 883,244 -1,077,731 Certificates 9,960,141 +3,908,950 Notes 9,959,471 -3,069,550 Bonds 2,801,750 - 839,400 Total bought outright 23,604,606 -1,077,731 Held under repurchase agreement Total U. S. Government securities 23>604,606 -1,077,731 Total loans and securities 24,093,017 + 102,484 -1,002,322 Due from foreign banks 22 Uncollected cash items 3,715,318 - 607,829 + 198,851 Bank premises 55,538 + 57 + 2,696 Other assets 139,600 + 6,744 - 14,443 TOTAL ASSETS 49,660,622 - 527,976 -1,030,755 L I A B I L I T I ES Federal Reserve notes 25,588,261 + 2,711 - 94,355 Deposits: Member bank—reserve accounts 18,521,060 - 33,542 -1,119,268 U. S. Treasurer--general account 500,138 - 89,212 + 52,655 Foreign 391,748 + 62,470 - 95,099 Other 416,924 - 69,097 + 70,740 Total deposits 19,629,870 - 129,381 -1,090,972 Deferred availability cash items 3,093,865 - 406,361 + 119,923 Other liabilities and accrued dividends 14,435 142 2,405 TOTAL LIABILITIES 48,526,431 - 533,173 -1,067,809 C A P I T AL A C C O U N TS Capital paid in 293,471 371 + 23,722 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts . 152,276 + 4,826 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,660,622 - 527,976 -1,030 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3% + .1% + .6# Contingent liability on acceptances purchased for foreign correspondents 29,001 + 919 + 19,629 Industrial loan commitments 3,285 + 52 + 117 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 9, 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 360,101 17 83,950 l6 to 90 days 6l,lll 100 2,485,660 91 days to 1 year 66,724 286 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,%7 D ht i t g p i : t / iz /f e ra d s f e o r r . s F tl R o T A ui o S sf E t e R d a . l or g/ 487,936 TW 23,604,606 Federal Reserve Bank of St. Louis

STATEMENT CF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 9, 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 20,178,104 998,152 5,529,055 1205,960 1730,690 1155,^55 863,547 3610,032 836,519 417,751 802,939 756,739 2271,265 Redemption fund for F. R. notes 853,248 52,960 181,113 57,562 75,954 70,520 53,215 142.926 46,796 24,493 39.490 28.526 79.693 Total gold certificate reserves 21,031,352 1051,112 5,710,168 1263,522 1806,644 1225,975 916,762 3752,958 883,315 442,244 842,429 785,265 2350,958 F.R. notes of other Banks 205,483 9,073 38,254 8,842 11,368 9,246 72,495 17,546 7,122 2,6o4 4,308 10,227 14,398 Other cash 420,292 34,154 98,544 16,991 45,903 18,888 36,219 69,259 21,200 8,745 11,150 14,719 44,520 Discounts and advances 487,936 20,907 64,927 38,117 29,257 20,608 45,142 114,216 15,153 30,417 62,667 7,083 39,442 Industrial loans 475 — — — 382 -• — 93 U. S. Govt, securities: Bought outright— Bills 883,244 48,735 225,609 53,752 75,701 52,021 44,984 154,407 36,960 21,690 38,107 34,706 96,572 Certificates 9,96o,l4l 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 O ana 1l71 CliO Clih. O oKA AnA Til Ac 3 en/C C cno cm- r>\,C nnc nrl. #*1.1. r-r*F- 1.^ ~ V- X/VLDuLO C 9 oul, (ju Z4v,iju 105, uif 142, byb 409,790 117,239 60,002 120.079 110,092 306.338 Total 23,604,606 1302,455 6,029,372 1436,529 2023,060 1390,264 1202,206 4126,510 987,735 579,658 1018,397 927,519 2580,881 Held under repurchase agreement Total U. S. Government securities 23,604,606 1302,455 6,029,372 1436,529 2023,080 1390,264 1202,206 4126,510 987,735 579,658 1018,397 927,519 2580,881 Total loans and securities 24,093,017 1323,362 6,094,299 1475,028 2052,337 1410,872 1247,348 4240,726 1002,888 610,168 1081,064 934,602 2620,323 Due from foreign banks 22 I I / 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 3,715,318 278,902 733,673 220,008 320,911 297,284 284,163 585,984 155,733 96,894 197,062 190,306 354,398 Bank premises SS.SlA S.A6A 7.17ft < Qnk K 016 k liCA 1 Aco C ol.c n Qoo noti m aOa ^ 55,538 5,868 7,178 5,304 5,236 4,458 3,852 6^245 2,822 998 2,980 1,262 9,335 Other assets 139,600 7,272 34,105 8,050 11,827 8,108 7.733 25.694 5,992 3,296 5.903 6,471 15,149 TOTAL ASSETS 49,660,622 2709,744 12,716,227 2997,747 4254,228 2974,832 2568,573 8698,415 2079,073 1164,950 2144,897 1942,853 5409,083 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 MARCH 9, 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. Kana.Cy. Dallas SatiFran. Federal Reserve notes 25,588,261 1559,873 5,745,631 1797,423 2356,478 1824,988 1331,901 4961,704 1154,395 571,730 1019,717 721,28? 2543,134 Deposits: Member bank-reserve accts. 18,521,060 770,977 5,555,977 871,933 1428,696 782,089 903,263 2955,059 697,834 431,191 862,938 938,544 2322,559 U.S.Treasurer-general acct. 500,138 34,358 67,243 27,224 47,656 35,115 29,973 63,833 27,881 34,214 37,215 46,703 48,723 Foreign 391,748 22,800 1/122,683 27,740 34,580 19,000 16,340 53,200 14,440 9,500 14,440 17,860 39,165 Other 416,924 2.866 332.130 9,626 6,919 3.001 1.784 2,094 6.371 962 7,671 1,649 41.851 Total deposits 19,829,870 831,001 6,078,033 936,523 1517,851 839,205 951,360 3074,186 746,526 475,867 922,264 1004,756 2452,298 Deferred avail, cash items 3,093,865 249,761 567,389 180,699 275,634 250,064 233,246 500,383 132,628 87,255 157,767 163,033 296,006 Other liabilities and accrued dividends 14,435 741 3,934 819 1,643 738 666 2,599 505 467 544 558 1,221 TOTAL LIABILITIES 48,526,431 2641,376 12,394,987 2915,464 4151,606 2914,995 2517,173 8538,872 2034,054 1135,319 2100,292 1889,634 5292,659 Capital paid in 293,471 15,204 90,996 19,351 27,843 13,127 12,702 38,835 10,195 6,482 11,210 14,972 32,554 Suzplus (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 152,276 9,844 34,855 10,670 13,551 9,881 8,456 22,713 7,684 5,158 7,503 6,955 15,006 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,660,622 2709,744 12,716,227 2997,747 4254,228 2974,832 2568,573 8698,415 2079,073 1164,950 2144,897 1942,853 5409,083 Contingent liability on acceptances purchased for foreign correspondents 29,001 1,740 2/8,469 2,117 2,639 1,450 1,247 4,060 1,102 725 1,102 1,363 2,987 Industrial loan commitments 3,285 358 598 35 99 15 2,180 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,528,584 1628,870 5,953,463 1860,475 2480,lkl 1878,546 1388,106 5065,080 1208,105 611,807 1042,745 758,711 2652,535 Collateral for F.R. notes: Gold certificates 11,208,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 Eligible paper 182,161 13,907 29,600 14,775 10,720 27,500 58,234 27,425 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 25,000 1620,000 Total collateral 28,455,161 1853,907 6,270,000 2029,600 2550,000 1989,775 1500,000 5300,000 1285,720 702,500 1138,234 808,000 3027,425 1/ After deducting $269,040,000 participations of other Federal Reserve Banks. 2/ After deducting $20,532,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis