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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) February 3, 1955 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 2, Member bank reserves increased $209 million. The principal changes supplying reserves were an increase of $534 million in Reserve Bank credit and a decrease of $15 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $235 million in Other deposits with Federal Reserve Banks and $107 million in Treasury deposits with Federal Reserve Banks. The increase of $534 million in Reserve Bank credit resulted frdm increases of $235 million in Loans, discounts and advances, $231 million in U. S. Government securities bought outright, $48 million in Float, and $21 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected an increase of $231 million in bills. Member Bank Reserves and Related Items Feb. 2 1955 Change since Jan. 26, Feb. 3, 1955 1954 (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 23,902 24 681 655 25,262 +231 + 21 +235 + 48 +534 21,714 4,988 -815 - 33 +164 + 86 -598 -242 + 89 -172 + 27 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) 29,758 834 503 419 455 + 898 +235 - 3 +110 + 69 Member bank reserves 19,099 +209 -771 18,409 - 42 -680 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 6 — — +107 - 15 690 +251 555 401 - 81 + 76 + 46 - 58 - 91 +127 +190 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,884 million, a decrease of $140 million for the week and an increase of $252 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 Jan. 26, Feb. 3, 1954 1955 Feb. 2, W 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 13,882,341 6,037,271 2,801,750 23,902,006 24,000 23,926,006 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,606,812 22 3,889,315 55,317 169,965 50,442,372 + 1 1 20,174,102 863,797 21,037,899 212,679 470,363 680,229 577 + 95 - 1,180,644 + 230,900 ~ 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 19,099,110 502,858 418,887 454,641 20,475,496 3,234,083 I4,4l8 49,333,956 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 290,534 660,901 27,543 129,438 50,442,372 25,609,959 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 45.6% 23,388 3,193 - — — - - 25,119 + 8,565 + 234,225 - + + + - - + + + 210,000 26,206 236,206 6,629 7,492 164,984 1,365 814,931 1,065,800 - - .7,226,400 - - - 230,900 21,000 251,900 486,220 - - 839,400 814,931 32,900 847,831 „ 684,212 — — - + + + - + + - + + - - + + 88,583 336 6,806 — — + + - 347,686 2,517 25,662 581,756 388,225 - 14,039 - 214,674 - 770,411 208,870 107,201 15,308 234,347 535,110 136,906 1,057 383,109 368 — — + - + - + - + + 45,655 58,109 109,604 673,261 261,247 679 627,367 22,115 35,888 — - - + 4,749 4" 388,225 - + - M 1,933 95 ~ 12,392 581,756 + •3* + 7,056 232 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 2, 1955 (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 481,666 118,529 80,040 Industrial loans 17 93 394 73 680,229 577 U. S. Government securities 4,274,794 941,850 13,193,764 3,087,127 1,013,614 1,414,857 23,926,006 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 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 2, 1955 (in thousands of dollars) Total Boston 20,174,102 979,642 863,797 53,522 21,037,899 1033,164 212,679 470,363 680,229 577 11,797 35,437 19,500 1,180,644 13,882,341 6,037,271 2,801,750 65,146 765,999 333,125 154,595 183,391 Cleve. Rich. 58,607 76,736 73,874 5,637,278 1283,203 1793,777 1206,508 40,490 109,524 171,450 6,917 24,113 17,255 483 12,423 46,828 33,140 24,219 25,039 25,185 - - Atlanta Chicago St.Louis - - - — - - Mpls. Kans.Cy. Dallas SanFran. 770,884 2438,268 812,688 410,158 825,828 143,720 47,045 24,595 39,689 902,683 3703,229 859,733 434,753 865,517 6,873 25,328 30,960 10,628 5,148 4,854 15,177 61,512 848,967 3559,509 53,716 57,080 16,627 41,322 54,685 74,745 187,467 — — 71,851 101,189 69,537 60,131 206,398 49,405 301,574 3,545,994 844,852 1189,8l4 817,643 707,042 2426,883 580,906 1,542,112 367,416 517,436 355,583 307,484 1055,424 252,630 715,657 170,509 240,130 165,017 142,696 489,796 117,239 6,105,337 1454,628 2048,569 1407,780 1217,353 4178,501 1000,180 24,000 — — Phila. 5,453,887 1224,596 1717,041 1132,634 — 23,902,006 1318,865 24,000 New York - - - - - * 17,500 94 28,994 340,909 148,257 68,802 - — 50,937 598,940 260,472 120,879 586,962 1031,228 - - - - 28,703 80,199 799,587 2518,467 11,247 15,067 24,640 " 15,004 47,155 36,935 - - 46,392 129,090 545,492 1517,867 237,229 660,103 110,092 306,338 939,205 2613,398 - ~ — Total U. S. Government securities 23,926,006 1318,865 6,129,337 1454,628 2048,569 1407,780 1217,353 4178,501 1000,180 586,962 1031,228 939,205 2613,398 Total loans and securities 24,606,812 1338,365 6,300,787 1472,366 2081,709 1432,965 1272,038 4365,968 1031,140 604,556 1092,740 963,845 2650,333 l 107,181 1,001 1 197,800 1,178 7,l6l Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 3,889,315 55,317 169,965 50,442,372 1 296,270 5,899 8,895 1/ 6 711,838 7,129 42,176 2729,828 12,849,228 2 242,704 5,235 9,913 2 349,072 5,254 14,511 1 317,628 4,476 9,897 3044,453 4303,576 3020,733 1 295,192 3 594,680 9,405 31,091 3,865 6,261 1 175,012 2,827 7,296 4,096 1 191,982 2,975 7,206 2 409,956 9,217 18,318 2581,586 8792,604 2108,210 1167,364 2180,452 1995,886 5668,452 l/ After deducting $ 16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 2, 1955 (In thousands of dollars) H. 4.1(c) L I A B I L I T I E S Total Boston Federal Reserve notes 25,609,959 1559,774 Deposits: Member bank-reserve accts. 19,099,110 772,484 U.S.Treasurer-general acct 502,858 33,938 Foreign 24,660 418,887 Other 5,814 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 5,765,772 1796,499 2362,973 1824,218 1353,814 4962,456 1155,523 572,56? 1016,073 721,042 2519,246 5,663,042 905,605 1472,098 807,170 873,139 3036,602 697,694 442,166 906,376 995,454 2527,28( 80,565 27,695 40,866 38,080 22,402 81,268 31,222 21,146 34,438 34,625 56,61: 1/127,880 30,003 37,401 20,550 17,673 57,540 2,042 15,618 16,546 10,275 1,359 15,618 6,391 19,317 2,037 42,352 42,431 Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,475,496 3,234,083 265,434 14,418 613 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,333,956 2662,717 12,534,631 2963,605 4203,265 2962,203 2531,393 8637,367 2064,124 1138,244 2137,010 1943,733 5555,664 11,050 14,700 290,534 15,042 90,516 19,278 27,423 13,014 12,539 38,773 10,075 6,450 31,67% 660,901 40,309 188,070 47,773 60,222 33,480 29,480 96,566 26,619 16,918 24,755 29,985 66,724 2,14( 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 129,438 8,749 28,692 9,308 11,660 8,687 7,412 18,469 6,871 4,679 6,500 6.161 12.25C Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 836,896 6,226,937 973,458 1556,734 869,252 915,803 3177,452 761,080 474,946 962,823 1051,433 2668,682 90,350 157,630 170,799 366,50; 537,256 192,934 281,855 268,157 261,227 494,849 147,089 4,666 714 1,703 549 576 2,610 432 381 484 459 1,233 50,442,372 2729,828 12,849,228 3044,453 4303,576 3020,733 2581,586 8792,604 2108,210 1167,364 2180,452 1995,886 5668,452 23,388 1,404 2/6,821 3,193 1,708 257 2,130 598 1,170 39 1,006 101 3,276 16 889 585 889 2,182 1,100 2,4lC FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,784,965 1652,211 5,998,592 1884,058 2505,819 1902,451 1428,772 5114,619 1208,663 616,381 1047,481 770,953 2654,96; 11,208,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2400,000 355,000 283,000 1380,00C 162,407 12,300 — 8,495 — 19,185 — — 26,400 14,500 56,952 24,575 17,115,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2900,0% 920,000 500,000 800,000 525,000 I620,00C 28,485,407 1852,300 6,270,000 2008,495 2600,000 1994,185 1500,000 5300,000 1301,400 689,500 1136,952 808,000 3024,575 1/ After deducting $290,988,000 participations of other Federal Reserve Banks. 2/ After deducting $16,567,000 participations of other Federal Reserve Banks. * 175,000 280,000
@FedFRASER