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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) January 21, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended January 20, Member bank reserves increased $646 million. The principal changes supplying reserves were decreases of $201 million in Money in circulation, $155 million in Other deposits with Federal Reserve Banks, $8l million in Treasury deposits with Federal Reserve Banks, and $57 million in Foreign deposits with Federal Reserve Banks, and an increase of $182 million in Reserve Bank credit. The principal offsetting change was a decrease of $24 million in Gold stock. The increase of $182 million in Reserve Bank credit resulted from increases of $223 million in Float and $46 million in U. S. Government securities bought outright, and a decrease of $87 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $323 million in special certificates issued to the Federal Reserve Banks and a decrease of $277 million in bills. Member Bank Reserves and Related Items Jan. 20, 1954 Change since Jan. 21, Jan. 13, 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 + 46 +1,330 71 977 26,412 22,006 4,890 - 87 +223 +182 - 24 - 795 28 + 508 -1,082 + 76 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) 30,083 782 5 443 286 833 -201 + 7 - 81 - 57 -155 - 3 + + 396 509 338 179 62 59 Member bank reserves 20,874 +646 + 133 19,276 1,598 + 11 +635 - 979 +1,112 1,343 70 +581 - 61 + 557 -1,080 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 25,364 - - U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,567 million, an increase of $13 million for the week and an increase of $387 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. 21, Jan. 13, 1953 1954 Jan. 20, 1954 A S S E T S Gold certificates Redemption fund for F. R. notes Total.gold certificate reserves OtBer cash Discounts and advances Industrial loans U. S. Government securities: Bought outright-Bills Certificates: Special Other Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities '' Due from foreign hanks F. R, notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS , 20,429,102 892,780 21,321,882 451,593 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 691,000 128,778 562,222 + 16,753 792,175 2,110 69,666 - 1,701 - 23,999 4,152 28,151 22,357 86,404 102 2,319,412 - 276,900 +1,577,462 323,000 5,816,541 13,263,671 3,641,150 25,363,774 + 323,000 + + + 46,100 25,363,774 25,435,141 22 230,827 4,320,447 52,746 178,445 51,991,103 + 46,100 40,406 - - + 323,000 820,825 510,000 880,825 +1,330,462 — — +1,330,462 + 536,177 1 17,073 167,984 4,018 + 9,173 199,505 w 8,565 + 412,537 + 298 + ,9?561 + 367,631 25,973,715 20,874,493 5,029 443,010 286,348 21,608,880 3,343,924 17,583 50,944,102 - 183,707 + 330,381 + 646,640 + 133,547 337,479 - 81,362 + + 56,720 155,013 353,545 190,426 + 359,972 + 447 + + 7,212 367,631 - 266,786 625,013 27,543 127,659 51,991,103 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + - 292 + " + + - - 44,8# - 20,373 3,719 + 444,285 139,341 1,356 251,889 12,609 40,337 - - 562 - 199,505 .2$ 3,501 112 178,678 61,675 - 1.1# + + 163 510 , ,W (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 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 47,596 20,490 1,580 69,666 Industrial loans 339 560 723 79 1,701 U. S. Government securities 1,005,554 5,559*058 9,855,241 6,154,664 25,363,774 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 20, 1954 (in thousands of dollars) H.4.1(b) A S S E T S Total Gold certificates Redemption fund for F. R. notes Boston 20,429,102 1049,6-17 892,780 Other cash 451,593 34,534 Discounts and advances 69,666 3,290 Industrial loans 1,701 -U. S. Govt, securities: Bought outright— Bills 2,319,412 127,716 Certificates 6,139,541 320,281 Notes 13,263,671 730,351 Bonds 3,641,150 200,497 Total 25,363,774 1378,045 Held under repurchase 6L^lT66II16Ilt; —— — •— Total U. S. Government securities 25,363,774 1378,845 securities Cleve. Rich. Atlanta Chicago St.Louis 182,218 60,385 81,807 73,575 5,764,549 1285,4i8 i84i,779 1054,815 94,963 . 9,910 -597,081 1,820,341 3,414,440 937,334 6,769,196 —— 30,004 6,400 1,209 31,099 4,721 -- 27,627 9,415 50 58,499 800,379 Mpls. Kans.Cy. 464,790 791,398 766,935 2334,675 151,023 49,264 25,506 41,348 989,580 3892,674 849,643 490,296 832,746 25,281 7,570 -- 8,872 2,875 120 16,252 6,595 38,302 7,170 322 78,420 7,285 -- Dallas SanFran. 30,291 84,292 797,226 2418,967 16,805 705 49,434 3,730 139,754 196,892 137,542 118,636 400,869 97,580 57,245 101,087 92,134 252,876 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 231,051 634,154 799,189 1125,940 786,536 678,424 2292,387 558,015 327,360 578,071 526,873 1446,085 219,394 309,094 215,919 186,241 629,306 153,186 89,868 158,693 144,637 396,981 1508,807 2125,686 1404,915 1280,811 4327,847 1053,490 618,031 1091,352 994,695 2730,096 —«— —— •• • — «— — —• —— «— — —— 6,769,196 1508,807 2125,686 1484,918 1280,811 4327,847 1053,490 618,031 1091,352 —— 994,695 2730,096 25,435,141 1382,135 6,779,106 1516,416 2130,407 1494,383 1288,303 4335,132 1061,060 621,026 1097,947 995,400 2733,826 Due from foreign banks 22 F.R.notes of other banks 230,827 uncollected cash items 4,320,447 Bank premises 52,746 Other assets 178,445 TOTAL ASSETS Phila. 5,582,331 1225,033 1759,972 901,240 931,08l 3741,651 54,572 Total gold certificate reserves 21,321,882 no4,l89 Total loans and New York l 8,669 346,553 6,232 9,483 l / 6 2 287229 11,166 827,134 265,597 7,393 4,734 45,107 10,620 2 13,379 391,644 5,227 15,128 1 43,206 328,250 4,720 10,8l3 1 3 30,475 28,577 319,844 755,797 3,985 6,448 9,854 30,266 1 13,687 186,699 2,898 7,350 1 10,981 108,747 1,024 4,283 1 9,240 209,669 2,235 8,288 1 10,549 174,348 587 7,857 2 22,669 406,165 7,263 19,396 51,991,103 2891,796 13,546,48? 3123,957 4428,665 2963,815 2680,344 9127,317 2146,619 1245,230 2176,378 2002,773 5657,722 l/ After deducting $16,000 participations of other Federal Reserve Banks. —— H.4.1(c) L I A B I L I T I E S STATEMENT OF CONDITION OF "HE FEDERAL RESERVE BANKS ON JANUARY 20, 1954 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,973,715 1603,100 5,779,319 1861,166 24l8,l46 1798,646 1378,919 5015,48? 1188,791 636,322 1001,493 721,290 2571,036 Deposits: Member bank-reserve accts. 20,874,493 894,985 6,493,265 9^8,00? 1572,871 845,851 9^1,277 3^08,4o8 7^3,515 474,481 957,735 1029,938 2564,160 U.S.Treasurer-general acct. 5,029 51^ 19 74 512 512 483 5^0 5^7 533 474 127 694 Foreign 443,010 26,437 1/135,278 32,072 39,873 22,103 18,636 60,243 16,469 10,835 16,469 20,370 44,225 Other 286,348 5,212 228,128 l,4l6 5,280 2,306 700 1,280 6,680 1,583 1,182 449 32,132 Total deposits Deferred avail, cash items Other liabilities and accrued dividends TOTAL LIABILITIES capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21.6o8.88o 3,343,924 927,148 6,856,690 295,632 610,402 17,583 911 6,007 981,569 1618,536 202,664 294,625 882 1,589 870,772 238,045 818 961,096 3^70,471 767,211 292,007 493,264 147,986 734 2,684 487,432 93,050 583 465 975,860 1050,884 2641,211 157,195 180,987 338,067 557 667 1,686 50,944,102 2826,791 13,252,418 3046,281 4332,896 2908,281 2632,756 8981,906 2104,571 1217,269 2135,105 1953,828 5552,000 266,786 625,013 27,543 127,659 14,473 38,779 3,011 8,742 82,036 176,633 7,319 28,081 18,138 45,909 4,489 9,140 25,553 57,648 1,006 11,562 11,821 31,750 3,3^9 8,6l4 11,482 28,034 762 7,310 35,214 90,792 1,429 17,976 9,222 25,465 521 6,840 5,988 16,219 1,073 4,681 10,192 23,456 1,137 6,488 13,304 28,146 1,307 6,188 29,363 62,182 2,140 12,037 51,991,103 2891,796 13,546,48? 3123,957 4428,665 2963,815 2680,344 9127,317 2146,619 1245,230 2176,378 2002,773 5657,722 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 20,373 3,719 1,244 — 2/5,889 — 1,510 1,886 1,877 7^8 1,040 4? 877 131 2,836 27 — 775 — 510 775 880 — 959 2,08l — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 27,457,630 1690,371 6,102,808 1973,15% 2549,305 1915,318 1473,731 5237,045 1255,496 11,093,000 640,000 2,670,000 800,000 1050,000 625,000 435,000 2400,000 355,000 38,650 2,375 4,6lO 5,290 8,650 7,000 17,420,000 1200,000 3,600,000 1200,000 1550,000 1350,000 1100,000 3000,000 975,000 28,551,650 1842,375 6,274,610 2005,290 2600,000 1983,650 1535,000 5400,000 1337,000 1/ After deducting $307,714,000 participations of other Federal Reserve Banks. 2j After deducting $14,484,000 participations of other Federal Reserve Banks. 657,356 1042,197 775,031 2785,818 175,000 280,000 283,000 1380,000 2,500 6,025 2,200 500,000 800,000 525,000 1620,000 677,500 1086,025808,000 3002,200
@FedFRASER