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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM E.4.1 ( F o r Immediate R e l e a s e ) A u g u s t 1 9 , 195)4. CONDITION OF THE FEDERAL RESERVE BANKS Member Bank R e s e r v e s and R e l a t e d I t e m s D u r i n g t h e week ended August 18, Member bank r e s e r v e s i n c r e a s e d $^5 m i l l i o n . The p r i n c i p a l c h a n g e s s u p p l y i n g r e s e r v e s were a n i n c r e a s e of $117 m i l l i o n i n R e s e r v e Bank c r e d i t and d e c r e a s e s of $45 m i l l i o n i n Money i n c i r c u l a t i o n and $ 1 1 m i l l i o n i n F o r e i g n d e p o s i t s w i t h F e d e r a l R e s e r v e B a n k s . The p r i n c i p a l o f f s e t t i n g c h a n g e s were i n c r e a s e s of $ 5 3 m i l l i o n i n T r e a s u r y d e p o s i t s w i t h F e d e r a l R e s e r v e B a n k s , $40 m i l l i o n i n O t h e r d e p o s i t s w i t h F e d e r a l R e s e r v e Banks, $23 m i l l i o n i n O t h e r F . R. a c c o u n t s ( n e t ) , and $13 m i l l i o n i n T r e a s u r y cash holdings. The i n c r e a s e of $117 m i l l i o n i n R e s e r v e Bank c r e d i t r e s u l t e d f r o m i n c r e a s e s of $212 m i l l i o n i n F l o a t and $80 m i l l i o n i n U. S . Government s e c u r i t i e s h e l d u n d e r r e p u r c h a s e a g r e e m e n t # a n d d e c r e a s e s of $147 m i l l i o n i n U. S , Government s e c u r i t i e s b o u g h t o u t r i g h t and $28 m i l l i o n i n L o a n s , d i s c o u n t s and a d v a n c e s . H o l d i n g s of U. S . Government s e c u r i t i e s b o u g h t o u t r i g h t r e f l e c t e d a d e c r e a s e of $147 m i l l i o n i n b i l l s . Member Bank R e s e r v e s and R e l a t e d I t e m s Reserve Bank c r e d i t : U. S . Government s e c u r i t i e s - Bought o u t r i g h t Held u n d e r r e p u r c h a s e a g r e e m e n t Loans, d i s c o u n t s and a d v a n c e s Float Total Gold s t o c k Treasury currency outstanding Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) Daily averages f o r period— E s t i m a t e d e x c e s s r e s e r v e s of member to Member bank b o r r o w i n g s a t F . R. Banks ( I n m i l l i o n s of d o l l a r s ) 23,876 80 461 -147 + 80 - 28 766 +212 25,183 +117 21,858 - - 4,960 " ' -1,113 + 812 646 548 427 + + + 45 13 53 11 4o 928 + 23 + + - 29,866 18,776 61 - 357 + 15 -1,394 - 370 + 99 + Member bank r e s e r v e s Change s i n c e August 11, August 19, 1954 1953 tr\ -d- Money i n c i r c u l a t i o n Treasury cash holdings T r e a s u r y d e p o s i t s w i t h F . R. Banks F o r e i g n d e p o s i t s w i t h F . R. Banks O t h e r d e p o s i t s w i t h F . R. Banks O t h e r F . R. a c c o u n t s ( n e t ) August 18, 1954 - 279 468 92 62 37 66 865 17,583 1,193 + 64 - 1 9 -1,282 + 417 942 139 - 17 - 43 + - 295 6o4 U. S . Government s e c u r i t i e s h e l d i n c u s t o d y b y t h e F e d e r a l R e s e r v e Banks f o r f o r e i g n a c c o u n t were $ 3 , 0 3 6 m i l l i o n , a d e c r e a s e of $ 2 0 m i l l i o n f o r t h e week and a n i n c r e a s e of $572 m i l l i o n f r o m t h e c o m p a r a b l e d a t e a y e a r a g o . H.4,1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s of d o l l a r s ) Change s i n c e A u g u s t 11, A u g u s t 19, 1954 1953 A u g u s t 18, 1954 A S S E T S Gold c e r t i f i c a t e s Redemption f u n d f o r F . R . n o t e s Total gold c e r t i f i c a t e r e s e r v e s F . R. n o t e s of o t h e r Banks Other cash Discounts and advances Industrial loans U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held u n d e r r e p u r c h a s e a g r e e m e n t T o t a l U. S . Government s e c u r i t i e s 20,327,102 844,476 21,171,578 2,535 2,535 10,864 132,276 367,413 459,987 126,997 44,152 32,002 355,002 45.999 2,015 - 146,500 23,876,612 80,000 - 146,500 80,000 -1,112,05 + 61,000 24,417,405 22 4,085,677 53,820 125,184 50,353,375 - 94,377 -1,408,071 13,029,021 3,092,$?0 + + + - —— 528,032 115 15,730 + 86,076 + - 3,749 37,203 30,962 - 362,613 + + 44,576 53,461 - 865,008 - 11,652 18,775,890 646,473 547,534 427,021 20,396,918 3,320,006 14,161 49,260,877 + + + + + 40.514 126,899 316,483 465 412,885 274,747 + 147 625,013 27,543 165,195 50,353,375 R a t i o of g o l d c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined C o n t i n g e n t l i a b i l i t y on a c c e p t a n c e s p u r c h a s e d f o r foreign correspondents I n d u s t r i a l l o a n commitments - 542,054 +1,604,075 - 744,650 -1.429,42! — •» 25,529,792 C A P I T A L A C C O U N T S Capital paid in Surplus ( S e c t i o n 7) S u r p l u s ( S e c t i o n 13b) Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 6,632 1,155,250 6,599,791 L I A B I L I T I E S Federal Reserve notes Deposits: Member b a n k — r e s e r v e a c c o u n t s U, S. T r e a s u r e r — g e n e r a l a c c o u n t Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and a c c r u e d d i v i d e n d s TOTAL LIABILITIES 80.998 27,499 378 806 T o t a l loans and s e c u r i t i e s Due f r o m f o r e i g n b a n k s ~~ Uncollected cash items Bank p r e m i s e s Other a s s e t s TOTAL ASSETS + + + 6,70? 419,737 + + 91,613 62,351 36,825 982,147 71,501 4,387 -1,277,646 + 13,660 + 40,337 16,953 -1,240,602 1,6# 46.1$ 6,562 227 376 2,617 18,772 1,036 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 18, 1954 ( S e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d as maturing w i t h i n 15 d a y s i n a c c o r d a n c e w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) o? T + r 91 d a y s t o 1 y e a r Over 1 y e a r t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s Over 10 y e a r s Total D i s c o u n t s and advances Industrial loans U. S . Government securities 368,684 5 592,100 91,076 227 532 231 643,150 13,972,141 38 6,299(060 __ _ 459,987 __ -806 " i O oc o 0 h ll4l4j857 23,956,612 STATEMENT OF CONDITION OP THE FEDERAL, RESERVE BANKS ON AUGUST 1 8 , 1954 ( I n thousands of d o l l a r s ) E.4.1(b) A S S E T S Gold c e r t i f i c a t e s Redemption f u n d f o r F . R. n o t e s Total gold c e r t i f i c a t e reserves F . R . n o t e s o f o t h e r Banks Other cash D i s c o u n t s and advances I n d u s t r i a l loans U. S . G o v t , s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total Held under repurchase agreement Total Boston 20,327,102 1025,971 844,476 51,081 21,171,578 1077,052 132,276 367,413 459,987 806 1,155,250 6,599,791 13,029,021 3,092,550 New York Phila. Cleve. Rich. 5,543,064 1193,384 1727,926 1030,472 169,578 55,746 77,322 65,235 5,712,642 1249,130 1805,248 1095,707 11,103 27,791 13,215 22,909 71,572 166,950 - - — 63,745 364,163 718,915 170,641 295,088 1,685,798 3,328,029 789,936 6,595 24,043 22,780 709 4,288 40,066 37,280 265,053 68,042 388,715 767,383 182,145 1W6.285 70,306 99,013 401,650 565,648 792,921 1116,679 188,206 10,969 16,597 27,587 Atlanta Chicago S t . L o u i s Mpls. Kans.Cy. D a l l a s SanFran. 775,295 2257,981 929,543 3704,494 808,491 470,314 860,167 146,223 47,870 24,892 40,269 984,875 3850,717 856,361 495,206 900,436 11,959 7,655 21,150 97 11,703 17,306 55,332 20,119 33,339 12,170 13,508 60,910 106,490 5,392 22,821 4,520 -- - - - - 58,838 201,958 336,133 1153,763 6 6 3 , 5 8 2 2277,707 157,507 540,633 8,766 29,305 81,623 804,600 2339,604 6,329 11,719 4,559 10,339 39,197 25,980 - - - - 48,342 28,370 276,168 162,071 545,199 129,408 319,953 75,944 49,841 284,742 562,124 133,425 45,394 126,313 259,332 721,608 511,962 1424,567 121,519 338,133 80,000 80,000 ffiotal U. S . Government -securities 23,936,612 1317,464 6 . 1 7 8 , 8 5 1 1453,083 2046,393 999,117 586,338 1030,132 938,207 2610,621 Total loans and securities 24,417,405 1330,679 6 , 3 4 5 , 8 0 1 1476,572 2083,673 1433,872 1228,230 4280,551 1003,637 607,585 1047,438 942,766 2636,601 1 119,494 1 206,668 1 210,033 565 2 401,914 8,233 Due f r o m f o r e i g n b a n k s Uncollected cash items Bank p r e m i s e s Other a s s e t s TOTAL ASSETS 22 4,085,677 53,820 125,184 1 319,169 5,997 6,889 1/ 6 773/003 7,584 30,228 2 253,506 5,147 7,455 2 378,015 1 335,165 5,087 4,585 10,575 7,370 1216,060 4174,06l 1 287,407 3,946 630,098 3 7,060 21,602 6,347 1 171,205 2,859 1,007 5,497 3,111 2,463 5,727 6,108 13,562 50,353,375 2778,681 12,963,745 3022,450 4326,954 2904,266 2564,977 8863,736 2067,773 1246,018 2183,202 1982,121 5449,452 l / A f t e r deducting $16,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ' ON AUGUST 1 8 , 1954 ( I n thousands of d o l l a r s ) 3.4.1(c) L I A B I L I T I E S Total Boston 25,529,792 1570,205 F e d e r a l Reserve n o t e s Deposits: Member b a n k - r e s e r v e a c c t s . 1 8 , 7 7 5 , 8 9 0 7 7 2 , 8 5 6 48,673 U.S.Treasurer-general acct . 646,473 32,464 Foreign 547,534 3,935 427,021 Other New York Cleve. Rich. Atlanta Chicago S t . L o u i s 5,684,738 164,452 1/169,653 354,221 845,513 1419,514 37,616 52,057 39,383 48,962 9,915 8,994 780,641 34,796 27,142 2,136 8 5 5 , 0 3 8 3067,593 33,627 93,832 22,885 73,976 932,427 1529,527 214,603 318,748 844,715 269,277 9 1 2 , 2 7 0 3238,010 246,725 516,991 1,311 607 20,396,918 3,320,006 857,928 282,759 6,373,064 560,975 14,161 599 4,974 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section l j b ) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,260,877 608 720 649 2,609 2,112 M p l s . Kans.Cy. 604,426 997,786 46,771 20,224 7.179 453,571 37,309 13,305 1,047 903,385 42,167 20,224 6,098 759,252 132,402 505,232 106,873 971,874 1027,226 2445,393 169,869 174,145 326,639 443 570 5 , 7 1 9 , 1 3 4 1 7 9 ^ , 2 4 1 2 3 7 7 , 3 9 9 1 7 3 1 , 6 3 2 1 3 5 5 , 6 3 9 4953,134 1 1 3 1 , 9 5 4 Total deposits Deferred a v a i l , cash items Other l i a b i l i t i e s and accrued dividends Contingent l i a b i l i t y on acceptances purchased f o r foreign correspondents I n d u s t r i a l l o a n commitments Phila. 685,078 484 973,030 2334,933 25,013 747 645 54,303 29,420 1,159 2 7 1 1 , 4 9 1 1 2 , 6 5 8 , 1 4 7 2 9 4 1 , 8 7 9 4 2 2 6 , 9 8 5 2 8 4 6 , 2 3 1 2 5 1 5 , 2 8 3 8710,247 2 0 2 4 , 0 5 1 1 2 1 7 , 1 0 1 2 1 4 0 , 0 1 3 1 9 3 1 , 2 2 1 5 3 3 8 , 2 2 8 30,549 6,108 10,573 13,951 14,784 53,434 18,707 26,720 12,240 11,881 36,291 9,509 62,182 16,219 23,456 28,146 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 2,140 1,073 1,137 1,307 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 16,353 5,517 8,023 7,496 165,195 10,616 38,212 11,466 14,595 10.696 9,017 24,977 8,227 274,747 50,353,375 6,562 2778,681 403 1 2 , 9 6 3 , 7 4 5 3 0 2 2 , 4 5 0 4 3 2 6 , 9 5 4 2 9 0 4 , 2 6 6 2 5 6 4 , 9 7 7 8863,736 2 0 6 7 , 7 7 3 1 2 4 6 , 0 1 8 2/1,876 2,617 488 648 607 867 337 45 284 115 2183,202 1982,121 5449,452 917 19 251 165 251 723 310 673 5038,669 1178,144 633,335 1028,636 764,560 2716,444 175,000 280,000 283,000 1380,000 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s o u t s t a n d i n g Collateral f o r F.R. notes: Gold c e r t i f i c a t e s Eligible paper U. S . G o v t , s e c u r i t i e s Total c o l l a t e r a l 26,524,550 1635,918 5,913,048 640,000 84,528 7,725 16,880,000 1200,000 28,057,528 1847,725 2,670,000 11,093,000 1888,674 2478,118 1827,120 1421,884 485,000 2400,000 3 5 5 , 0 0 0 1,100 22,997 3,600,000 1200,000 1500,000 1300.000 1000,000 2700,000 935,000 6 , 2 7 0 , 0 0 0 2 0 1 6 , 1 2 0 2 5 0 0 , 0 0 0 1947,997 1485,000 5100,000 1 2 9 1 , 1 0 0 800,000 16,120 1000,000 625,000 1 / A f t e r d e d u c t i n g $ 3 7 7 , 8 6 2 , 0 0 0 p a r t i c i p a t i o n s o f o t h e r F e d e r a l Reserve B a n k s . 2/ A f t e r deducting $ 4 , 6 8 6 , 0 0 0 p a r t i c i p a t i o n s o f o t h e r F e d e r a l Reserve B a n k s . 18,900 13,886 3,800 500,000 800,000 525,000 1620,000 693,900 1 0 9 3 , 8 8 6 8 0 8 , 0 0 0 3003,800
@FedFRASER