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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate R e l e a s e ) August 5, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and R e l a t e d Items During t h e week ended August 4, Member bank r e s e r v e s d e c r e a s e d $403 m i l l i o n . The p r i n c i p a l changes reducing r e s e r v e s were a d e c r e a s e of $158 m i l l i o n i n Reserve Bank c r e d i t and i n c r e a s e s of $129 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 Reserve Banks, $117 m i l l i o n i n Money i n c i r c u l a t i o n , and $30 m i l l i o n i n Other d e p o s i t s w i t h F e d e r a l Reserve Banks. The p r i n c i p a l o f f s e t t i n g change was a d e c r e a s e of $24 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 Reserve Banks. The d e c r e a s e of $158 m i l l i o n i n Reserve Bank c r e d i t r e s u l t e d from d e c r e a s e s of $192 m i l l i o n i n U. S. Government s e c u r i t i e s bought o u t r i g h t and $50 m i l l i o n i n Loans, d i s c o u n t s and a d v a n c e s , and an i n c r e a s e of $84 m i l l i o n i n F l o a t . Holdings of U. S. Government s e c u r i t i e s bought 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 $192 m i l l i o n i n b i l l s . The d e c r e a s e of $697 m i l l i o n i n e s t i m a t e d r e q u i r e d r e s e r v e s of member banks r e f l e c t e d t h e lower r e s e r v e r e q u i r e m e n t s which became e f f e c t i v e d u r i n g t h e week and which l e s s e n e d r e q u i r e d r e s e r v e s a p p r o x i m a t e l y $931 m i l l i o n . These r e d u c t i o n s i n r e s e r v e r e q u i r e m e n t s a r e t h e l a s t i n a s e r i e s which were announced by t h e Board on June 2 1 . Member Bank Reserves and R e l a t e d Items 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 under r e p u r c h a s e agreement Loans, d i s c o u n t s and advances Float Total Gold s t o c k Treasury currency outstanding August 4 , 1954 ( i n m i l l i o n s of d o l l a r s ) 24,325 -192 - 171 - 50 + 84 - 393 16 -1,048 - 319 + 101 609 25,105 21,908 29,893 Member bank r e s e r v e s Daily averages f o r p e r i o d - 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 banks Member bank borrowings a t ? . R. Banks -158 + 1 4,959 Money i n c i r c u l a t i o n T r e a s u r y cash h o l d i n g s Treasury 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 Other d e p o s i t s w i t h F . R. Banks Other F . R. a c c o u n t s ( n e t ) 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 ) Change s i n c e J u l y 28, August 5, 1954 1953 639 428 907 +117 - 4 +129 - 24 + 30 - 4 + - 246 468 217 32 + 47 18,733 -403 - 881 808 677 525 17,682 + 96 1,051 +294 -697 -1,277 + 396 1,055 71 +372 - 14 463 547 U. S. Government s e c u r i t i e s h e l d i n custody by t h e F e d e r a l Reserve Banks f o r f o r e i g n a c c o u n t were $3,057 m i l l i o n , an i n c r e a s e of $50 m i l l i o n f o r the week and an i n c r e a s e of $679 m i l l i o n from t h e comparable d a t e a y e a r a g o . H.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 August 5 , J u l y 28, 1954 1953 August 4 , 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 c a s h D i s c o u n t s and a d v a n c e s I n d u s t r i a l loans U. S. Government s e c u r i t i e s : 2 2,172 2,174 20,367,102 850,554 21,217,656 118,927 382,744 12,258 10,810 1,056 50,146 57 169,986 Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 1,603,750 6,599,791 13,029,021 3,092,550 24,325,112 - - - - —- Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 192,175 192,175 • + + + + - 124,001 58,332 182,333 62,228 45,958 390,672 1,922 68,554 +1,604,075 - 744,650 -1,429,425 - 638,554 «* — — 24,325,112 - 192,175 - 24,496,154 22 3,418,325 53,664 132,572 49,820,064 - 242,264 + - 28,743 39 8,744 287,544 -1,031,148 l + 28,143 + 3,669 14,336 - 847,610 « - — 638,554 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 25,554,185 + 88,212 - 328,857 18,733,491 676,740 524,706 428,201 20,363,138 2,809,397 14,113 40,740,633 + - 402,829 128,616 24,185 - 880,105 + 216,326 - 267,776 113,159 996 293,719 C A P I T A L ACCOUNTS Capital paid in S u r p l u s ( 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 273,923 625,013 27,543 152,752 49,820,064 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 for foreign correspondents I n d u s t r i a l l o a n commitments + - 30,622 260 + - 5,915 287,544 + + 31,909 96,223 599,465 44,539 r - ^ S + + - 13,212 40,337 l4,o4o 847,610 46.2# .2# 1.3# 8,396 2,390 166 17,010 1,184 90 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 4 , 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 a s m a t u r i n g w i t h i n 15 d ays 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 . ) W i t h i n 15 days 16 t o 90 days 91 days 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 71,375 98,372 239 Industrial loans 2 754 169,986 1,056 260 40 U. S . Government securities 717,000 1,877,975 12,972,716 6,307,260 1,035,304 —1,414,057 24,325>112 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 4, 1954 (in thousands of dollars) H.4.1(b) A S S E T S 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 Boston 20,367,102 979,552 850,554 51,373 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 5,406,188 1225,347 1718,024 1009,527 1006,486 3668,397 170,680 56,376 77,802 67,390 55,634 146,696 Mpls. Kans.Cy. 838,734 473,937 869,755 48,023 24,949 40,366 Dallas SanFran. 809,848 2361,307 29,398 81,867 21,217,656 1030,925 5,576,868 1281,723 1795,826 1076,917 1062,120 3815,093 886,757 498,886 910,121 839,246 2443,174 118,927 382,744 169,986 1,056 1,603,750 6,599,791 13,029,021 10,053 19,643 75,498 38,355 28,109 8,650 88,492 364,163 718,915 3 f \JycLy 24,325,112 1342,211 5,790 23,771 11,165 3,524 40,937 17,560 10,400 18,450 11,687 17,700 34,177 6,565 ll,6l4 65,910 26,400 5,807 23,856 4,090 957 12,265 8,343 4,450 99 6,237 11,694 23,890 4,978 11,590 6,264 10,916 40,409 10,910 409,649 97,601 137,452 94,458 81,680 280,364 67,109 39,384 69,192 63,018 175,351 1,665,798 401,650 565,648 388,715 336,133 1153,763 276,168 162,071 284,742 259,332 721,608 3,328,029 792,921 1116,679 767,383 663,582 2277,707 545,199 f i 6,213,412 1480,378 2084,832 1432,701 1238,902 4252,467 1017,884 319,953 562,124 511,962 1424,567 597,352 1049,483 955,831 2659,659 Total U. S. Government securities 24,325,112 1342,211 6,213,412 1480,378 2084,832 1432,701 1238,902 4252,467 1017,884 597,352 1049,483 955,831 2659,659 Total loans and securities 24,496,154 1350,861 6,251,767 1492,500 2102,392 1444,388 1245,467 4278,867 1021,974 601,901 1073,373 962,095 2670,569 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 1 53,664 5,997 6,921 3,418,325 296,762 132,572 1 / 6 2 2 1 1 3 1 1 1 1 2 637,120 215,228 303,079 271,110 230,374 565,330 145,579 100,691 174,614 157,557 320,881 7,584 5,147 5,087 4,585 3,947 6,347 2,859 1,007 2,462 565 8,077 32,324 7.985 11,550 7,748 7,476 22,906 5,894 3,274 6,060 6,113 14,321 49,820,064 2729,629 12,600,810 3032,146 4262,397 2833,599 2601,262 8766,070 2092,727 1226,368 2184,562 1982,145 5508,349 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 4 , 1954 ( I n thousands of d o l l a r s ) H.4.1(c) L I A B I L I T I E S Total F e d e r a l Reserve n o t e s 25,554,185 Deposits: Member b a n k - r e s e r v e a c c t s . 18,733,4-91 U.S.Treasurer-general acct. 676,740 Foreign 524,706 Other 428,201 Boston New York Fhila. Cleve. Rich. Atlanta Chicago S t . L o u i s Mpls. Kans.Cy. D a l l a s SanFran. 1578,488 5,727,310 1803,783 2368,473 1723,124 1362,841 4942,950 1135,188 610,411 998,919 730,889 2571,809 770,097 5,487,979 876,564 1433,245 768,011 926,934 2954,282 685,296 445,486 961,349 1024,304 2399,944 34,026 115,769 34,884 41,333 39,991 39,922 194,705 52,833 36,626 22,088 22,720 41,843 31,433 1/158,825 38,132 47,4o8 26,280 22,158 71,627 19,581 12,883 19,581 24,219 52,579 889 4,4o6 6,675 2,819 6,156 757 40,228 4,820 337,339 10,295 11,050 2,767 Total deposits D e f e r r e d a v a i l , cash items Other l i a b i l i t i e s and accrued dividends 20,363,138 840,376 6,099,912 959,875 1533,036 837,049 989,903 3225,020 764,385 497,814 1009,174 1072,000 2534,594 2,809,397 243,418 466,947 188,062 260,809 215,472 198,827 444,732 149,469 88,763 133,319 128,384 291,195 TOTAL LIABILITIES Capital paid in Surplus (Section 7) S u r p l u s ( S e c t i o n 13b) Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,740,833 2663,098 12,298,535 2952,385 4163,974 2776,241 2552,110 8614,975 2049,492 1197,753 2141,894 1931,740 5398,636 273,923 14,781 83,423 18,706 26,241 12,231 11,874 36,193 9,472 6,103 10,571 13,910 30,418 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o 14,973 C o n t i n g e n t l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l l o a n commitments 14,113 816 4,366 665 1,656 596 539 2,273 450 765 482 467 1,038 49,820,064 2729,629 12,600,810 3032,146 4262,397 2833,599 2601,262 8766,070 2092,727 1226,368 2184,562 1982,145 5508,349 8,396 2,390 512 2/2,432 — — - 622 600 773 867 428 45 361 115 1,168 20 319 — - 210 - - - 319 743 395 857 - - — FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s o u t s t a n d i n g C o l l a t e r a l f o r F.R. notes: Gold c e r t i f i c a t e s E l i g i b l e paper U.S. G o v t , s e c u r i t i e s Total collateral 26,532,889 1644,434 5 , 9 1 1 , 1 5 8 1898,759 2478,269 1816,308 1423,782 5032,531 1187,402 635,736 1028,388 759,884 2716,238 11,093,000 640,000 2 , 6 7 0 , 0 0 0 800,000 1000,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 33,997 2,245 3,395 — 6,332 100 1,825 19,900 - - - 200 16,880,000 1200,000 3 , 6 0 0 , 0 0 0 1200,000 1500,000 1300,000 1000,000 2700,000 935,000 500,000 800,000 525,000 1620,000 28,006,997 1842,245 6,270,000 2003,395 2500,000 1931,332 1485,000 5100,000 1290,100 676,825 1099,900 808,000 3000,200 l / A f t e r deducting 2 / A f t e r deducting $365,863,000 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. $ 5 , 9 6 4 , 0 0 0 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.
@FedFRASER