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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) August 26, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and. Related Items During the week ended August 25, Member bank reserves decreased $197 million. The principal changes reducing reserves were a decrease of $324 million in Reserve Bank credit and an increase of $14 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $80 million in Money in circulation, $50 million in Treasury deposits with Federal Reserve Banks and $10 million in Other deposits with Federal Reserve Banks. The decrease of $324 million in Reserve Bank credit resulted from decreases of $147 million in Loans, discounts and advances, $129 million in Float, and $52 million in U. S. Government securities bought outright and an increase of $4 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected a decrease of $52 million in bills. Member Bank Reserves and Related Items August 25, 1954 Change since August 18, August 26, 1954 1953 (in millions of dollars) Reserve Bank credit: U. S. Government securities-Bought outright Held under repurchase agreement Loans, discounts and advances Float Total Gold stock Treasury currency outstanding 23,824 84 314 637 24,859 21,858 4,961 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) 29,786 812 596 562 417 927 + - 50 14 10 1 - 319 - 46l - 73 + 44 + 63 + 65 Member bank reserves 18,579 -197 - 861 17,574 1,005 - 9 -188 -1,286 + 425 771 88 -171 - 51 + 150 - 401 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member b Member bank borrowings at F. R. Banks - 52 + 4 -147 -129 -324 - - + l - 80 - - -1,165 + 56 - 213 + 50 -1,272 - 370 + 99 U. S. Government securities held in custody "by the Federal Reserve Banks for foreign account were $3,012 million, a decrease of $24 million for the week and an increase of $432 million from the comparable date a year ago. E.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) August 25, 1954 ASSETS Gold certificates Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks 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 20,327,104 844,476 21,171,580 142,038 376,473 312,859 642 1,103,150 6,599,791 13,029,021 3,092,550 23,824,512 83,800 23,900,312 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,221,813 22 3,410,753 53,698 132,924 49,509,301 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 18,579,307 595,947 561,911 417,132 20,154,297 2,773,910 15,314 48,411,348 ACCOUNTS CAPITAL Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 274,899 625,013 27,543 170,498 49,509,301 25,467,827 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments Change since August 18, August 26, 1954 1953 + + + 82,002 46,811 128,813 42,663 + 31,469 - 211,279 2,209 2 + - ~ + + + - 2 9,762 9,060 147,128 l64 52,100 52,100 3,800 48,300 - 594,154 +1,604,075 - 744,650 -1,429,425 -1,164,154 + 55,400 -1,108,754 195,592 -1,322,242 - - - - + - » — — — — 674,924 122 + 7,740 844,074 - 21,613 + 3,674 37,674 -1,260,236 61,965 - 392,137 196,583 50,526 14,377 9,889 242,621 546,096 1,153 849,529 - 86l,123 - 73,295 + 44,273 + 63,427 - 826,718 - 71,787 4,437 -1,295,079 - - - - + - + - 152 + - - + - + + 13,707 40,337 - - - 5,303 844,074 19,201 -1,260,236 46.4$ .3f» + 1.5$ 5,294 2,778 1,268 161 - 19,997 818 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 2$, 195 >+ (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days l6 to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 215,320 97,314 225 312,059 Industrial loans 5 384 215 38 U. S. Government securities 588,600 598,350 13,972,141 6,299,060 1,035,304 1,414,857 23,900,31% STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 2 % 195k (In thousands of dollars) H.4.l(b) ASSETS Gold certificates Redemption fund for F. R, notes Total gold certificate reserves F.R. notes of other Banks Other cash Discounts and advances Industrial loans U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement Total 20,327,104 844,476 Boston 1,103,150 6,599,791 13,029,021 3,092,550 23,824,512 Phila. Cleve. Rich. Atlanta Chicago St.Louis 982,382 5,394,181 1241,134 1775,326 1040,897 51,081 21,171,580 1033,463 142,038 376,473 312,859 642 New York 11,809 27,270 7,640 169,578 55,746 77,322 917,221 3807,318 809,217 469,641 55,332 146,223 5,563,759 1296,880 1852,648 1106,132 972,553 3953,541 23,464 73,605 146,720 «- — 5,532 24,799 17,855 5,811 43,127 17,380 —— 60,870 281,780 67,135 94,547 364,163 1,685,798 401,650 565,648 718,915 3,328,029 792,921 1116,679 170,641 789,936 188,206 265,053 1314,589 6,085,543 1449,912 2041,927 83,800 65,235 13,212 17,471 16,487 —— Mpls. Kans.Cy. 21,808 32,379 9,270 12,204 61,944 36,490 64,973 56,184 192,851 388,715 336,133 1153,763 767,383 663,582 2277,707 182,145 157,507 540,633 1403,216 1213,406 4164,954 47,870 24,892 857,087 494,533 5,965 23,565 6,880 13,246 7,535 7,150 97 Dallas SanFran. 868,220 742,870 2278,697 40,269 29,305 81,623 908,489 772,175 2360,320 9,366 12,095 23,498 46,162 27,091 47,594 276,168 162,071 284,742 545,199 319,953 562,124 129,408 75,944 133,425 996,937 585,059 1027,885' 7,040 12,420 6,059 12,581 40,263 17,430 43,347 259,332 511,962 121,519 936,160 120,616 721,608 1424,567 338,133 2604,924 83,800 Total U. S. Government securities 23,908,312 1314,589 Total loans and securities 24,221,813 1322,229 6,316,063 1468,312 2059,307 1419,703 1222,676 4201,444 1003,817 592,306 1051,383 942,219 2622,354 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 6,169,343 1449,912 2041,927 l403,2l6 1213,4o6 4164,954 996,937 585,059 1027,885 936,160 2604,924 22 1 1 / 6 2 2 l l 3 1 l 1 1 2 3,410,753 253,615 6427728 197,975 311,076 277,895 244,706 550,115 144,272 103,338 183,550 178,227 323,256 53,698 5,963 7,584 5,144 5,069 4,563 3,933 6,347 2,859 1,007 2,463 565 8,201 132,924 7,253 32,043 7,864 11,555 7,766 7,434 23,018 5,807 3,324 6,059 6,394 14,407 49,509,301 2661,603 12,659,252 3006,508 4288,595 2846,743 2505,490 8808,616 2043,373 1215,290 2173,406 1919,041 5381,384 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 25, 1954 (In thousands of dollars) H.4.1(c) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 25,467,827 1562,646 5,715,014 1789,771 2373,984 1729,929 1350,013 4946,289 1127,958 600,392 994,407 727,415 2550,009 Federal Reserve notes Deposits: Member bank-reserve accts. 18,579,307 728,288 5,529,138 887,994 1437,473 765,132 836,871 3095,201 686,077 448,529 929,177 921,596 2313,831 U.S.Treasurer-general acct 108,620 32,836 53,410 37,631 33,728 105,435 43,183 28,727 30,904 41,143 40,853 595,947 39,477 Foreign 561,911 33,757 1/168,978 40,952 50,913 28,223 23,796 76,923 21,029 13,835 21,029 26,010 56,466 708 30,505 801 3,071 6,910 1,489 6,671 Other 343,167 9,572 9,121 1,744 417,132 3,373 20,154,297 804,895 6,149,903 971,354 1550,917 832,730 895,196 3280,630 2,773,910 226,118 481,681 163,913 261,811 225,049 209,635 425,022 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,411,348 2594,235 12,352,191 2925,665 4l88,i66 2788,404 2455,522 8654,034 1999,447 1186,249 2129,992 1867,945 5269,498 6,113 10,576 13,951 30,565 83,448 18,708 26,727 12,242 11,900 36,376 9,509 274,899 14,784 16,219 23,456 28,146 62,182 176,633 45,909 57,648 31,750 28,034 90,792 25,465 625,013 38,779 1,073 1,137 1,307 2,.140 7,319 4,489 1,006 3,349 762 1,429 521 27,543 3,011 5,636 8,245 7.692 16,999 39,661 11,737 15.048 10,998 9,272 25,985 8,431 170,498 10,794 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 15,314 576 5,593 627 1,454 696 678 2,093 757,199 492,580 113,764 92,869 526 4o8 987,781 147,218 989,457 2441,655 150,331 276,499 Total deposits Deferred avail. cash items Other liabilities and accrued dividends 586 742 1,335 49,509,301 2661,603 12,659,252 3006,508 4288,595 2846,743 2505,490 8808,616 2043,373 1215,290 2173,406 1919,041 5381,384 5,294 2,778 323 2/1,531 392 1,011 488 867 270 45 228 113 737 19 201 133 201 723 249 541 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,500,8lf1641,536 5,916,147 1886,385 2484,462 1817,254 1413,534 5039A?/1174,531 632,143 1027,368 766,331 2701,651 11,093,000 640,000 2,670,000 800,000 1000,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 8,250 3,460 4,900 20,078 11,897 11,195 61,930 2,150 16.865.000 1200,000 3,600,000 1200.000 1500.000 1300,000 1000,000 2700,000 920,000 500.000 800,000 525,000 1620,000 28,019,930 1842,150 6,270,000 2011,195 2500,000 1936;897 1485,000 5100,000 1278,460 679,900 1100,07# 808,000 3008,250 1/ After deducting $392,914,000 participations of other Federal Reserve Banks. 2/ After deducting $3,763,000 participations of other Federal Reserve Banks.
@FedFRASER