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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) January 28, 1954 CONDITION OF TEE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended January 27, Member bank reserves decreased $1,015 million. The principal changes reducing reserves were a decrease of $917 million in Reserve Bank credit and increases of $231 million in Treasury deposits with Federal Reserve Banks, $50 million in Foreign deposits with Federal Reserve Banks, and $13 million in Treasury cash holdings. The principal offsetting change was a decrease of $183 million in Money in circulation. The decrease of $917 million in Reserve Bank credit resulted from decreases of $703 million in U. S. Government securities bought outright and $255 million in Float, and an increase of $4l million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected decreases of $380 million in bills and $323 million in certificates. The decrease in certificates represents the retirement in full of last week's holdings of the special series issued to the Federal Reserve Banks. Member Bank Reserves and Related Items Jan. 27, 1954 Change since Jan. 20, Jan. 28 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 112 722 25,495 22,006 4,890 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) 29,900 795 236 493 278 831 183 13 4- 231 + 50 8 2 - + 308 503 509 119 58 56 Member bank reserves 19,859 -i,,015 - 643 19,229 630 - 47 968 + 866 223 + 220 6 + 528 -1,107 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 24,661 1,123 76 - 703 + - 4l 255 917 -1,199 6 - 514 -1,030 + 75 - • - • - + + - - - 691 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,574 million, an increase of $7 million for the week and an increase of $399 million from the comparable date a year ago. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) H.4.1(a) Change since Jan, 28. Jan. 20, 1954 1953 Jan. 27, 1954 A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Other 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 banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 20,429,102 2,662 2,662 890,118 A C C O U N T S C A P I T A L Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 651,001 129,851 5^1,lyv 30,250 21,319,220 467,496 110,466 1,895 + + + 15,903 40,800 194 + -1,196,573 1,939,000 - 380,412 +1,260,746 - 323,000 5,816,541 13,263,671 3,641,150 24,660,362 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 + _ + — - - w - 703,412 - 703,412 662,418 11,383 - 428,238 + 144 8,854 + -1,079,800 25,805,092 - 19,858,992 235,729 492,600 . 277,903 20,865,224 3,169,923 16,725 -1,015,501 + 230,700 49,590 + 8,445 - 743,656 - 174,001 267,183 625,013 27,543 134,603 50,911,303 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 45.7% — <- 168,623 861 -1,087,141 + am - - 24,660,362 24,772,723 22 219,444 3,892,209 52,890 187,299 50,911,303 49,856,961 1,679 397 - - - + + - - + + - + 3,513 690,746 507,506 1 9,886 66,908 4,201 10,272 947,456 259,160 642,609 509,220 119,600 58,454 -1,329,883 + 72,976 • - 2,099 - 999,846 + + 12,597 40,337 - - - - .9# 2,106 206 18,267 510,000 880,825 690,746 - - - 6.944 + -1,079,800 + 820,825 544 947,456 " + 3,401 127 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 27, 1954 (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 89,641 20,825 Industrial loans 331 588 898 78 110,466 1,895 U. S. Government securities 482,000 5,379,200 9,855,241 6,154,664 1,374,400 1,414,857 24,660,362 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 27, 1954 (In thousands of dollars) H.4.1(b) A S S E T S Gold certificates Redemption fund for F. R. notes Total Boston 20,429,102 977,205 890,118 54,388 Total gold certificate - reserves 21,319,220 1031,593 Other cash 467,496 35,339 Dig-counts and advances 110,466 5,360 Industrial loans 1,895 — U. S. Govt, securities: Bought outright-Bills 1,939,000 106,769 Certificates 5,816,541 320,281 Notes 13,263,671 730,351 Bonds 3.641,150 200,497 Total 24,660,362 1357,898 Held ufider repurchase . agreement --- New York Cleve. Rich. 5,857,339 1242,868 1739,358 965,580 181,843 Phila. 60,016 81,596 72,652 6,039,182 1302,884 1820,954 1038,232 98,147 12,720 — 31,177 4,520 1,413 36,032 12,171 -- 28,282 13,415 50 Atlanta Chicago St.Louis 874,696 3728,770 Mpls. Kans.Cy. 802,035 458,439 789,016 150,815 49,208 25,482 41,302 933,068 3879,585 851,243 483,921 830,318 26,639 4,670 — 8,806 11,375 120 16,833 7,745 — 58,372 38,776 18,970 312 78,430 10,935 — , 499,153 116,832 164,599 114,983 99,178 335,122 81,576 47,856 84,508 1,497,341 350,470 493,760 344,921 297,510 1005,285 244,709 143,558 253,501 3,414,440 799,189 1125,940 786,536 678,424 2292,387 558,015 327,366 578,071 937,334 219,394 309,094 215,919 186,241 629,306 153,186 89,868 158,693 6,348,268 1485,885 2093,393 1462,359 1261,353 4262,100 1037,486 608,642 1074,773 21 L2. ~~ ZZ II ZZ Dallas SanFran. 723,770 2270,026 30,250 84,194 754,020 2354,220 18,734 5,605 -- 50,301 2,980 -- 77,023 211,401 231,051 634,154 526,873 1446,085 144,637 396,981 979,584 2688,621 II ~~ Total U. S. Government • securities" 24,660,362 1357,898 6,348,268 1485,885 2093,393 1462,359 1261,353 4262,100 1037,486 608,642 1074,773 979,584 2688,621 Total loans and securities- " 6,360,988 1491,818 2105,564 1475,824 1280,635 4273,035 1042,156 620,137 1082,518 985,189 2691,601 1 10,974 103,463 1,024 4,535 1 l4,84l 195,376 587 8,168 24,772,723 1363,258 Due from foreign hanks.. 22 F.R.riotes of other banks 219,444 Uncollected cash it^ms 3,892,209 Bank premises 52,890 Other assets 187,299 TOTAL ASSETS 1 3,473 288,402 6,198 10,092 1/ 6 25%l47 689,942 7,444 46,835 2 9,321 236,396 4,752 11,051 2 11,544 364,868 5,219 16,174 1 46,602 310,090 4,697 11,198 1 27,851 307,351 3,972 10,203 3 30,504 637,003 6,443 31,939 1 10,215 175,007 2,897 7,790 1 8,217 199,205 2,236 8,785 2 20,755 385,106 7,421 20,529 50,911,303 2738,356 13,267,691 3087,401 4360,357 2914,926 2601,857 8936,942 2115,948 1232,861 2148,113 1976,916 5529,935 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON JANUARY 27, 1954 (In thousands of dollars) HA.1(c) L I A B I L I T I E S Total Boston Federal Reserve notes 25,805,092 1590,601 Deposits: Member bank-reserve accts. 19,858,992 784,198 U.S.Treasurer-general acct 588 235,729 Foreign 29,329 492,600 Other 4,339 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 5,737,677 1850,660 2405,407 1784,550 1366,134 4998,990 1176,584 633,513 996,470 6,092,093 738,638 460,978 924,797 1019,382 2458,929 585 590 591 587 2,374 12,020 2,040 18,270 904 22,598 467 49,060 31,658 928,794 1502,360 540 227,857 294 1/151,214 35,579 44,234 221,342 2,220 3,011 796,120 904,985 3247,718 583 577 563 24,521 20,674 66,831 18,270 2,976 991 834 7,121 927,227 3315,946 475,628 780 712,829 2551,677 944,562 1043,034 2542,021 164,870 171,101 327,913 Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,865,224 3,169,923 818,454 263,232 6,692,506 16,722 741 4,759 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,856,961 2673,028 12,971,657 3009,258 4263,948 2858,982 2553,922 8790,170 2073,615 1204,721 2106,521 1927,691 5423,448 267,183 14,489 82,144 18,192 25,588 11,834 11,501 35,278 9,244 5,999 10,209 13,316 29,389 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 536,715 966,887 1550,145 824,200 190,880 306,800 249,358 831 1,596 874 259,742 472,760 764,614 131,752 819 2,474 665 94,800 619 727 1,837 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 134,603 9,049 29,938 9,553 12,167 9,011 7,638 19,273 7,103 4,849 6,790 6,456 12,776 50,911,303 2738,356 13,267,691 3087,401 4360,357 2914,926 2601,857 8936,942 2115,948 1232,861 2148,113 1976,916 5529,935 18,267 1,116 2/ 5,274 3,513 1,354 1,682 1,684 748 933 47 787 129 2,544 27 695 458 695 880 860 1,867 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 27,300,847 1685,918 6,054,291 1966,142 2534,024 1894,931 1468,826 5214,589 1245,836 655,852 1039,276 768,313 2772,849 11,093,000 640,000 2,670,000 283,000 1380,000 51,300 4,445 175,000 280,000 11,000 7,175 500,000 800,000 686,000 1087,175 17,320,000 1200,000 28,464,300 1844,445 800,000 1050,000 625,000 435,000 2400,000 355,000 4,100 12,650 7,070 3,410 3,600,000 1200,000 1550,000 1350,000 1100,000 2900,000 975,000 6,277,070 2003,410 2600,000 1987,650 1535,000 5300,000 1334,100 1/ After deducting $341,368,000 participations of other Federal Reserve Banks. 2/ After deducting $12'993'000 participations of other Federal Reserve Banks. 1,450 525,000 1620,000 808,000 3001,450
@FedFRASER