H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) April 7> 1955 CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended April 6, Member ban kreserves increased $403 million. The principal changes supplying reserves were decreases of $408 million in Treasury deposits with Federal Reserve Banks and $12 million in Treasury cash holdings, and an increase of $163 million in Reserve Bank credit. The principal offsetting changes were increases of $162 million in Money in circulation and $15 million in Other F. R. account s(net). At the end of the week, Member ban kreserves amounted to $18,791 millio nof which $54-7 million were estimated as exces sreserves. The increase of $163 million in Reserve Bank credit resulted from increases of $93 millio nin Float, $40 million in U. S. Government securities held under repurchase agreement, $16 millio nin Loans, discounts and advances, $11 million in Acceptances purchased, and $2 million in Acceptances held under repurchase agreement. Change since Member Bank Reserves April 6, March 30, April 7, and Related Items 1955 1955 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securitLes-- Bought outright 23,604 — «• L,028 Held under repurchase agreement 40 + 40 + 40 Acceptances purchased 11 + 11 + 11 Acceptances held under repurchase agreement 2 + 2 + 2 Loans, discounts and advances 708 + 16 + 529 Float 645 + 93 + 99 Total 25,011 +163 - 346 Gold stock 21,719 - - - 24? Treasury currency outstanding 4,997 -- + 62 +162 Money in circulation 29,900 + 105 Treasury cash holdings 817 - 12 6 - Treasury deposits with F. R. Banks 443 -4o8 127 - Foreign deposits with F. R. Banks 351 - 5 - 140 + 8 Other deposits with F. R. Banks 445 + 74 Other F. R. account s(net) 979 + 15 + 43 Member bank reserves 18,791 +403 - 481 Required reserves (estimated) 18,244 +316 • 407 Excess reserves (estimated) 547 + 87 - 74 Daily averages for period— Estimated excess reserves of member banks 505 + 69 - 200 Member bank borrowings at F. R. Banks 519 -133 + 385 U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,077 million, an increase of $9 millio nfor the week and an increase of $286 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since April 6, March 30, April 7, 1955 1955 1954 A S S E TS Gold certificates 20,183,103 + 5,000 215,998 Redemption fund for F. R. notes 850,451 + 1,627 28,525 - Total gold certificate reserves 21,033,554 + 6,627 244,523 - F. R. notes of other Banks 178,323 - 23,729 + 38,048 Other cash 377,399 - 32,653 - 27,397 Discounts and advances 707,367 + 16,281 + 530,075 Industrial loans 509 12 982 - - Acceptances purchased 10,999 + 10,999 + 10,999 Acceptances held under repurchase agreement 2,109 + 2,109 + 2,109 U. S. Government securities: Bought outright— Bills 883,244 "1, 027,731 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 — — -1,027,731 Held under repurchase agreement 40,000 + 40,000 + 40,000 Total U. S. Government securities 23,644,606 + 40,060 987,731 - Total loans and securities 24,365,590 + 69,377 - 445,530 Due from foreign banks ~ 22 — — «• mm Uncollected cash items 3,685,552 - 104,238 + 329,921 Bank premises 55,940 - 24 + 3,032 Other assets 131,226 - 13,398 - 20,986 TOTAL ASSETS 49,827,606 - 98,038 - 367,435 L I A B I L I T I ES Federal Reserve notes 25,590,858 + 100,290 + 50,908 Deposits: Member bank—reserve accounts 18,791,342 + 403,516 480,388 U. S. Treasurer--general account 442,515 - 408,791 - 127,936 Foreign 351,205 - 4,574 - 139,847 Other 444,959 + 7,547 + 73,859 Total deposits 20,030,021 - 2,302 - 674,312 Deferred availability cash items 3,040,615 - 197,591 + 231,144 Other liabilities and accrued dividends 16,257 133 - 1,866 TOTAL LIABILITIES 48,677,751 99,736 394,126 C A P I T AL A C C O U N TS Capital paid in 291,116 2,788 + 20,693 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 — mm. • Other capital accounts 170,295 + 4,486 - 29,890 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,827,606 - 98,038 - 367,435 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.1# - .1# -t" .1% Contingent liability on acceptances purchased for foreign correspondents 28,620 - 514 + 14,138 Industrial loan committtaa&6 3,523 + 10 + 632 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 6, 1955 (Acceptances and securities held under repurchase agreement are classified as aatuning within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial. U. S. Government advances loans Acceptances securities Within 15 days 606,694 ~~TB 2,171 87,500 16 to 90 days 47,340 203 10,935 2,522,110 91 days to 1 year 53,333 140 2 16,519,398 Over 1 year to 5 years 150 2,087,127 Over 5 years to 10 years 1,013,614 Digitized for FRASER http://fr O as v e e r. r st lo 1 uis 0 fe d y .o e rg a / rs 1.414.857 Federal ReservTe oBtanakl o f St. Louis 707,367 509 13.108 23.644.606

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 6, 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 20,183,103 997,359 5,621,225 1257,672 1692,934 1165,993 857,767 3263,310 832,347 423,219 889,850 805,639 2375,786 Redemption fund for F. R. notes 850,451 52,241 178.394 56.234 75.000 66,247 52.632 151,974 46,530 24,398 39,289 28,336 79,176 Total gold certificate reserves 21,033,554 1049,600 5,799,619 1313,906 1767,934 1232,240 910,399 3415,284 878,877 447,617 929,139 833,975 2454,96* F.R. notes of other Banks 178,323 6,650 31,358 5,203 10,6ll 6,930 61,716 16,015 5,357 3,283 5,666 7,985 17,54$ Other cash 377,399 31,442 83,578 -15,388 41,662 16,742 32,809 65,522 18,204 9,424 10,016 14,519 38,09; Discounts and advances 707,367 21,604 76,063 40,918 56,653 20,002 23,788 380,582 12,912 30,908 14,687 4,487 24,76; Industrial loans 509 419 90 Acceptances purchased 10,999 10,999 Acceptances held under repurchase agreement 2,109 2,109 U« S. Govt, securities: Bought outright-- Bills 883,244 48,776 224,472 53,756 75,909 52,035 45,591 154,062 ^,3-6r,6^53 21,404 3y8u,,412 35,416 96,756 ,-,1 Certificates 9,960,141 550,039 2,531,320 606,194 856,004 586,793 514,123 1737,317 413,326 241,363 433,167 399,382 1091,113 Notes 9,959,471 550,002 2,531,150 606,153 855,947 586,752 514,088 1737,201 413,298 241,348 433,137 399,355 1091,04c Bonds 2°, 870112,,705501 154,724 170,520 . 240,79 1165,062 144,621 488.701 116,267 67,895 121,848 112,344 306.926 Total 23,604,606 1303,5 41 5,990,993 1436,623 2028,651 1390,642 1218,423 4ii7,28l 979,^44 572,'010 1026^564 946*497 2585J837 Held under repurchase agreement 40,000 4o, 000 — — -- — — — — __ Total U. S. Government securities 23,644,606 1303,541 6,038,993 1436,623 2028,651 1390,642 1218,423 4117,281 979.544 572,010 1026,564 946,497 2585,837 Total loans and securities 24,365,590 1325,145 6,128,164 1477,960 2085,304 1410,644 1242,211 4497,863 992,456 603,008 1041,251 950,984 2610,600 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 1 1 2 Uncollected cash items 3,685,552 '281,739 708,788 220,626 321,958 290,493 272,269 606,133 160,722 99,216 185,179 188,567 349,862 Bank premises 55,940 5,834 7,165 5,249 5,221 4,443 4,108 6,225 2,815 1,082 3,073 1,290 9,435 Other assets 131,226 6,844 31,616 7,646 11,432 7,750 7,247 24.013 5,667 3,071 5.462 6,265 14,213 TOTAL ASSETS 49,827,606 2707,255 12,790,294 3045,980 4244,124 2969,243 2530,760 8631,058 2064,099 1166,702 2179,787 2003,586 5494,718 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMKT OF tmDlTIOIT OF THE ^FEDERA LHESERVE" BARKS'ON APBIL 6,-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 25,590,858 1563,620 5,764,666 1797,34? 2343,465 1828,018 1304,718 4979,045 1155,341 573,007 1022,276 711,643 2547,71^ Deposits: Member bank-reserve accts. 18,791,342 756,546 5,668,798 895,908 1455,637 777,113 900,739 2864,337 687,104 442,452 902,256 1018,283 2422,16^ U.S.Treasurer-general acct. 442,515 32,819 60,608 32,003 36,217 36,979 22,967 69,688 26,041 27,221 42,548 25,876 29,54a Foreign 351,205 20,820 1/105,504 25,331 31,577 17,350 14,921 48,580 13,186 8,675 13,186 16,309 35,766 Other 444,959 1,862 362,724 9,734 5,337 3,152 2,040 3,248 6,793 1,106 5,134 1,786 42,043 Total deposits 20,030,021 812,04? 6,197,634 962,976 1528,768 834,594 940,667 2985,853 733,124 479,454 963,124 1062,254 2529,526 Deferred avail, cash items 3,040,615 261,522 500,54? 201,401 265,745 244,945 232,340 500,006 129,434 83,620 148,426 174,964 297,665 Other liabilities and accrued dividends 16,257 881 4,310 899 1,992 805 763 2,924 557 567 563 636 1,36c TOTAL LIABILITIES 48,677,751 2638,070 12,467,157 2962,623 4139,970 2908,362 2478,488 8467,828 2018,456 1136,648 2134,389 1949,497 5376,263 Capital paid in 291,116 15,229 87,962 19,386 27,853 13,185 12,762 38,933 10,205 6,494 11,237 15,210 32,66c 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 66,72k -Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,0C6 3,349 762 1,429 521 1,073 1,137 1,307 2,l4c Other capital accounts 170,295 10,636 39,786 11,709 15,073 10,867 9,268 26,302 8,298 5,569 8,269 7,587 16,931 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,827,606 2707,255 12,790,294 3045,980 4244,124 2969,243 2530,760 8631,058 2064,099 1166,702 2179,787 2003,586 5494,716 Contingent liability on acceptances purchased for foreign correspondents 28,620 1,734 2/8,159 2,110 2,630 1,445 1,243 4,046 1,098 ?22 1,098 1,358 2,97? Industrial loan commitments 3,523 441 597 33 97 15 2,340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,450,781 1623,499 5,937,70? 1855,595 2468,252 1881,671 1367,151 5075,500 1202,944 606,920 1047,821 749,852 2633,86$ Collateral for F.R. notes: Gold certificates 10,908,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2100,000 355,000 175,000 280,000 283,000 1380,00c Eligible paper 129,674 16,004 34,105 15,335 9,365 28,575 11,140 15,15C U. S. Govt, securities 17,165,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 3000,000 920,000 500,000 800,000 525,000 l620,00C Total collateral 28,202,674 1856,004 6,270,000 2034,105 2550,000 1990,335 1500,000 5100,000 1284,365 703,575 1091,140 808,000 3015,15C 1/ After deducting $245,676,000 participations of other Federa lReserve Banks. 2/ After deducting $20,461,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis