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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) April 1, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 31; Member bank reserves decreased $5^5 million. The principal changes reducing reserves were increases of $183 million in Treasury deposits with Federal Reserve Banks, $69 million in Money in circulation, and $12 million in Treasury cash holdings, and a decrease of $309 million in Reserve Bank credit. The principal offsetting change was a decrease of $23 million in Foreign deposits with Federal Reserve Banks. The decrease of $309 million in Reserve Bank credit resulted from decreases of $202 million in Loans, discounts and advances, $73 million in U. S. Government securities held under repurchase agreement, and $34 million in Float. Member Bank Reserves and Related Items Reserve Bank credit: U. S. Government securities-Bought outright Held under repurchase agreement Loans, discounts and advances Float Total Gold stock Treasury currency outstanding larch 31, 1954 24,632 -148 535 25,316 21,965 4,93'ab 29,70-ar1 8SB^ Member bank reserves Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 1954 1953 (In millions of dollars) Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Required reserves (estimated) Excess reserves (estimated) Change since April 1, March 24, +826 - 73 -202 - 34 -309 + 1 + 7 + 69 -321 -213 +293 -598 +105 - 53 -482 +436 494 363 917 + 12 +183 - 23 + 5 - 2 + 19 + 48 19,194 -545 -111 18,759 435 - 86 -459 -759 +648 657 175 - 44 + 13 +143 722 - 56 -966 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,784 million, an increase of $17 million for the week and an increase of $531 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since March 54, April 1, 1954 1953 March 31, 1954 ASSETS Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Other cash Discounts and advances Industrial loans U. S, Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 10,001 6,052 3,949 11,380 - 201,655 165 20,399,102 878,976 21,278,078 427,475 146,864 + 1,470 1,910,975 6,051,191 13,029,021 3,641,150 24,632,337 - - — — - - - - - 24,632,337 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,780,671 22 155,130 3,844,884 52,910 164,697 73,000 73,000 - 274,820 - 219,999 + 130,841 - 09,150 + 66,337 - 318,190 2,109 +1,396,221 +1,055,475 - 744,650 - 880,825 + 826,221 - - 525,221 50,703,867 14,127 - 217,197 + 26 + 7,741 - 513,706 + 505,922 1 10,803 - 146,343 + 3,559 1,775 + 327,738 25,486,575 + - - 544,988 LIABILITIES Federal Reserve notes Deposits: Member bank--reserve accounts U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 19,194,192 722,054 493,801 362,892 20,772,939 3,309,596 - 23,483 + 5,144 - 379,869 - 183,231 59,507,191 - 520,288 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 270,208 625,013 27,543 193,912 50,703,867 222 + 6,360 - 513,706 46.0$ .3# 12,916 3,162 120 l8,08l Ratio of gold certificate reserves to deposit and F. R, note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 43,081 + 183,458 269 2,957 76,429 - Ill,162 + 435,570 + 56,162 18,768 + 66,736 ± k m + 287,014 + 279,052 + + 13,307 40,337 4,958 + 327,738 16,673 134 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 31, 1954 (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Digitized for Total FRASER Discounts and advances 129,939 16,925 Industrial loans 152 15 1,256 47 146,864 1,470 U. S. Government securities 3*37750 3,252,591 12,277,575 6,307,260 1,035,304 1,414,857 24,632,337 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 31, 1954 (In thousands of dollars) H.4.1(b) Total gold certificate reserves Other cash Discounts and advances Industrial loans U S. Govt, securities: Bought outright-Bills Certificates Notes Bonds Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 20,399,102 1000,521 5,689,727 1264,620 1857,107 1033,802 937,115 3515,082 878,976 21,278,078 1053,860 427,475 146,864 1,470 1,910,975 6,051,191 13,029,021 3,641,150 178,103 53,339 58,166 80,369 73,750 149,445 Mpls. Kans.Cy. Dallas SanFran. 448,240 807,586 769,132 2294,936 3 00 e- Gold certificates Redemption fund for F. R notes Total r* VM CD ASSETS 48,803 25,278 40,969 29,946 83,390 5867,830 1322,786 1937,476 1107,552 994,533 3664,527 830,037 473,518 848,555 799,078 2378,326 78,202 12,565 32,388 16,362 - - — 25,404 6,630 1,215 34,746 4,032 21,796 11,370 — 105,226 491,938 115,144 162,221 333,203 1,557,746 364,609 513,680 717,429 3,354,035 785,050 1106,020 200,497 937,334 219,394 309,094 38,369 20,345 142 79,281 36,580 27,206 7,370 — - - 10,050 12,850 113 13,085 15,700 17,875 705 — 49,073 2,355 - - 113,322 97,744 330,278 80,397 47,165 83,286 75,909 208,345 358,836 309,512 1045,839 254,580 149,349 263,729 240,371 659,737 772,621 666,422 2251,833 548,144 321,569 567,843 517,553 1420,502 215,919 186,241 629,306 153,186 89,868 158,693 144,637 396,981 Held under repurchase agreement Total U. S. Government securities 24,632,337 1356,355 6,341,053 1484,197 2091,015 1460,698 1259,919 4257,256 1036,307 607,951 1073,551 978,470 2685,565 Total loans and securities 24,780,671 1372,717 6,353,618 1492,042 2095,047 1472,068 1280,406 4293,836 1043,677 620,914 1089,251 979,175 2687,920 Due from foreign banks F.R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 1 155,130 3,201 3,844,884 296,886 52,910 6,131 164,697 8,926 1 y 6 2 2 1 1 3 1 19,333 7,694 7,452 23,453 27,264 16,104 8,761 783,749 232,620 431,631 313,597 272,994 582,116 157,335 7,525 4,841 5,161 4,66l 3,992 6,390 2,881 41,368 9,926 14,218 9,848 9,032 27,744 6,717 1 1 1 2 10,298 5,246 8,l84 18,l4o 94,318 166,048 164,655 348,935 1,017 2,207 578 7,526 4,039 7,748 7,104 18,027 50,703,867 2774,110 13,151,631 3095,315 4525,733 2952,976 2626,591 8670,001 2076,615 1214,155 2132,141 1976,650 5507,949 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON MARCH 31, 1954 (In thousands of dollars) 1.4.1(c) L I A B I L I T I E S Total Federal Reserve notes 25,486,575 Deposits: Member bank-reserve accts. U.S.Treasurer-general acct. Foreign Other Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Total deposits Deferred avail, cash items i i m i f Other liabilities and accrued dividends 18,081 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments Dallas SanFran, 1568,068 5,688,128 1817,009 2356,571 1745,684 1360,986 4927,031 1155,179 628,812 993,583 708,187 2537,33' "II111IfIf I! HI! is TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Mpls. Kans.Cy. a 982 5,517 1.040 1.916 % 781 797 k9 38,856 12,073 1,655 887,999 983,904 2412,58• 42,277 18,350 5,634 53,579 22,696 582 63,41* 49,271 30.S7C 466,921 954,260 1060,761 2555,85% 88,391 139,604 155,512 299,575 % 3,043 fl:Z % 414,337 635 51L 648 620 1.58= 1184,64l 2088,095 1925,080 5394,34E «>*.% 6,034 10,261 29,66$ 62,182 1,073 1,307 2,14c 10,511 193,11,ye* 6,188 9,192 8,640 19,61c 50,703,867 2774,110 13,151,631 3095,315 4525,733 2952,976 2626,591 8670,001 2076,615 1214,155 2132,141 1976,650 5507,949 %:°l! 1;2i "7:319 *6,193 1 ; ® .12,019 12,916 2,957 787 2/3,757 955 1,148 5 I;^6 16.937 'tig 12:307 1,187 748 658 2 8 1S 47 555 124 ^ 1 % 29:983 1,793 25 25: *g 9 348 490 13,477 16,219 23,456 1,137 28,146 322 490 865 606 1,316 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,714,686 1636,032 5,928,373 1934,492 2480,011 1847,577 l44o,485 5080,715 1219,628 655,707 1023,100 761,490 2707,076 n,093,000 640,000 2,670,000 800,000 1050,000 625,000 435,000 2400,000 355 000 175,000 280,000 283,000 1380,000 74,417 15,447 7,615 5,520 — 10,605 6 800 12,475 15,130 — 825 0 0 1 00 Q l,??'? ! ' ?° 3,600,000 1200,000 1550,000 1300,000 1100,000 2800.000 960'000 500,000 800,000 20,322,417 1855,447 6,277,615 2005,520 2600,000 1935,605 1535,000 5200,000 1321,'800 ~ *7,475 1095,130 525,000 1620.000 008,000 3000,825 1/ After deducting $342,859,000 participations of other Federal Reserve Banks. 2/ After deducting $9,159,000 participations of other Federal Reserve Banks.
@FedFRASER