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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) December 16, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 15, Member bank reserves increased $489 million. The principal changes supplying reserves were an increase of $629 million in Reserve Bank credit and decreases of $56 million in Other deposits with Federal Reserve Banks, $17 million in Treasury deposits with Federal Reserve Banks, and $11 million in Treasury cash holdings. The principal offsetting changes were increases of $99 million in Other F. R. accounts (net), $76 million in Money in circulation, and $4-7 million in Foreign deposits with Federal Reserve Banks. The increase of $629 million in Reserve Bank credit resulted from increases of $567 million in Float, $44 million in U. S. Government securities held under repurchase agreement, and $18 million in Loans, discounts and advances. The decrease in holdings of U. S. Government bonds and notes bought outright, as shown in the Statement of Condition of the Twelve Federal Reserve Banks Combined, reflects the exchange of maturing issues for new issues of certificates. 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 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) Member bank reserves Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks Dec. 15, 1954 Change since Dec. 8, Dec. 16, 1954 1953 (In millions of dollars) 24,888 44 364 1,191 26,487 21,711 4,981 30,773 807 333 405 324 975 __ + 44 + 18 +567 +629 -- - 1 + 76 - 11 - 17 + 47 -355 -170 + 93 - 2 -434 -317 + 97 -180 + 38 +109 - 59 - 56 + 65 + 99 + 39 19,562 +489 -667 18,539 1,023 +114 +375 -770 +103 758 263 - 7 - 28 + 63 -167 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,992 million, a decrease of $22 million for the week and an increase of $277 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 Dec. 8, Dec• 16, 1954 1953 Dec. 15, 1954 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. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 2,167,000 13,882,341 6,037,271 2,801,750 24,888,362 43,400 24,931,762 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 25,296,013 22 5,013,960 54,665 122,386 51,982,389 +1,446,355 118 + 92,039 +1,436,973 26,382,935 + 85,920 19,562,458 332,882 404,823 323,858 20,624,021 + 489,953 16,914 47,111 20,165,104 868,582 21,033,666 149,617 312,040 363,509 742 L I A B I L I T I E S 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 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 3,823,325 20,849 50,851,130 286,179 625,013 27,543 192,524 51,982,389 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 44.7# 19,668 l,8®§ + + + + + + + 999 4,001 5,000 6,075 9,571 18,373 120 — +7 ,282,550 -6,991,750 290,800 - - + + 43,409 43,400 + 61,893 - + + 294,999 12,989 307,988 8,192 2,237 95,072 - 1,549 - 354,312 +8,065,800 -7,226,400 839,400 35*+, 312 - - - 170,800 - 525,112 431,589 - - - - + - + + 56,026 464,124 880,042 - - - + - - - 236,065 - 666,333 + - + - 638 - +1,429,448 - - + 1,715 21,221 3,708 12,936 775,981 109,230 58,785 64,981 550,907 18,624 1,918 807,514 + + 22,023 40,337 - 30,827 - - + 5,810 +1,436,973 - - - 775,981 .6% 15 101 - - - 2,872 - 1,431 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 15, 1954 (Securities held under repurchase agreement are classified as maturing •within 15 days in accordance with maximum maturity of the agreements.) Within .15--dayo 16 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 202,463 54,201 106,845 Industrial loans 1 271 441 29 363,509 "7%2 U. S. Government securities 592,550 5,729,750 13,193,764 3,087,127 1,013,614 1,414,857 24,931,762 K. 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 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 15, 1954 (In thousands of dollars) Total Boston 20,165,104 988,780 868,582 53,730 21,033,686 1042,510 149,617 3,252 17,996 18,383 312,o4o 363,509 742 2,167,000 13,882,341 6,037,271 — 119,571 765,999 333,125 2,801,750 154,595 New York Phila. Cleve. Rich, 5,298,153 1219,503 1666,598 1136,863 184,380 59,045 5,482,533 1278,548 43,744 65,262 66,093 - - 553,521 3,545,994 .1,542,112 715,657 5,751 19,236 27,627 667 77,108 75,233 1743,706 1212,096 6,067 30,634 23,795 131,879 185,727 844,852 Il89,8l4 367,416 517,436 170,509 240,130 10,224 17,432 23,509 127,632 817,643 355,583 165,017 Atlanta Chicago St.Louis Mpls. Kans.Cy. 833,948 429,116 815,751 144,126 47,192 24,656 39,802 980,810 3769,436 881,140 453,772 855,553 3,704 7,535 4,759 11,283 69,009 926,807 3625,310 54,003 23,302 26,346 11,750 17,906 51,053 55,277 7,866 20,229 - - — — - - 110,367 378,831 707,042 2426,883 307,484 1055,424 142,696 489,796 13,661 9,882 75 90,679 580,906 252,630 117,239 53,215 340,909 148,257 68,802 93,492 598,940 260,472 120,879 24,931,762 1373,290 6,400,684 1514,656 2133,107 1465,875 1267,589 4350,934 1041,454 611,183 1073,783 Total loans and securities 25,296,013 1391,673 22 1 393,519 TOTAL ASSETS 54,665 122,386 51,982,389 28,826 8o,48l 804,153 2529,429 6,622 12,363 22,115 16,420 32,671 22,408 - - 85,150 236,936 545,492 1517,867 237,229 660,103 110,092 306,338 43,400 43,400 5,013,960 775,327 2448,948 " Total TJ. S. Government securities Due from foreign banks Uncollected cash items Bank premises Other assets Dallas SanFran. 6,466,777 1542,950 1489,384 1279,339 4406,211 280,721 540,419 7,248 5,156 5,253 29,729 7,052 10,359 2 2 1 393,485 4,511 7,083 1 348,255 3,890 2861,295 13,076,458 3139,416 4493,342 3134,216 2668,660 5,881 6,463 1/ 6 981,159 2156,902 1055,115 621,l4o 3 1 1 977.963 2721,244 1142,792 1000,078 2743,652 1 1 2 414,537 8,899 13,193 836,601 218,309 138,287 255,376 213,092 6,311 2,837 1,013 2,530 1,136 6,717 22,653 5,280 2,922 5,456 5,479 9110,374 2190,777 1228,374 2277,750 2042,924 5758,803 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 15, 1954 (In thousands of dollars) H.4.1(c) Total Boston New York Federal Reserve notes 26,382,935 1620,637 Deposits: Member bank-reserve accts. 19,562,458 811,775 U.S.Treasurer-general acct. 332,882 12,167 Foreign 404,823 24,339 Other f IS . 5,948,835 L I A B I L I T I E S ^ M Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 1856,245 2436,319 1883,921 1400,033 5067,794 1184,64? 586,924 1031,609 751,315 2614,656 5,699,603 931,006 1492,065 827,070 901,782 3127,548 758,697 466,208 969,486 1002,441 2574,777 9,070 19,139 22,997 23,325 22,959 60,105 18,579 36,905 29,294 15,054 63,288 15,162 55,461 9,975 15,162 18,753 40,717 20,349 17,157 29,526 36,708 1/121,514 906 2,134 539 43,988 2,038 989,863 1573,030 209,961 379,162 934,917 3249,467 788,982 496,228 1009,779 1045,0$8 2682,441 281,562 629,473 171,387 115,175 191,086 193,270 344,286 853,289 317,816 6,122,216 679,340 20,849 974 7,072 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,851,130 2792,716 12,757,463 3057,119 4390,521 3074,413 2617,475 8949,893 2145,687 1198,821 2233,183 1990,591 5643,248 6,171 10,796 14,424 31,790 89,245 18,801 27,229 12,547 12,158 38,174 9,900 286,179 14,944 62,182 16,219 23,456 28,146 176,633 45,909 57,648 31,750 28,034 90,792 25,465 625,013 38,779 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 27,543 192,524 3,011 11,845 7,319 45,798 1,050 4,489 13,098 2,010 1,006 16,938 963 934 3,349 12,157 762 10,231 3,159 1,429 30,086 671 521 9,204 494 1,073 6,090 709 1,137 9,178 948 1,307 8,456 1,865 2,140 19,443 51,982,389 2861,295 13,076,458 3139,416 4493,342 3134,216 2668,660 9110,374 2190,777 1228,374 2277,750 2042,924 5758,803 19,668 1,202 1/86^. 2/5,681 1,458 1,812 1,005 847 2,738 3*4 598 39 106 17 FEDERAL RESERVE AGENTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral S3 20,624,021 3,823,325 O CD Total deposits Deferred avail, cash items Other liabilities and accrued dividends 749 492 749 6fl 926 2,009 ACCOUNTS 27,365,843 1663,226 6,208,482 1921,566 2556,232 1930,552 1467,314 5178,675 1239,200 622,901 1061,863 787,935 2727,897 11,168,000 640,000 2,670,000 800,000 1050,000 650,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 7,100 5,565 62,448 — 4,796 14,850 — 14,703 117,312 7,850 17,140,000 1200,000 28,425,312 1847,850 3,600,000 1200,000 1550,000 1300,000 1000,000 2900,000 945,000 1/ After deducting $283,290,000 participations of other Federal Reserve Banks. 2/ After deducting $13,987,000 participations of other Federal Reserve Banks. 1 500,000 800,000 525,000 1620,000 6,270,000 2014,850 2600,000 1964,703 1485,000 5300,000 1307,100 680,565 1142,448 808,000 3004,796
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