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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 1, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended June 30, Member bank reserves decreased $8l4 million. The principal changes reducing reserves were a decrease of $951 million in Reserve Bank credit and increases of $169 million in Money in circulation, $38 million in Other deposits with Federal Reserve Banks, and $17 million in Treasury cash holdings. The principal offsetting changes were decreases of $345 million in Treasury deposits with Federal Reserve Banks and $11 million in Other F. R. accounts (net). The decrease of $951 million in Reserve Bank credit resulted from decreases of $572 million in Loans, discounts and advances, $184 million in Float, $102 million in U. S. Government securities bought outright, and $92 million in U. S. Government securities held under repurchase agreement. Holdings of U. S. Government securities bought outright reflected a decrease of $102 million in bills. The decrease of $375 million in estimated required reserves of member banks reflected the lower reserve requirements which became effective at the beginning of the week and which lessened required reserves approximately $460 million. Member Bank Reserves and Related Items June 30, 1954 Change since June 23, July 1, 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 38 567 25,642 21,927 4,959 -102 - 92 -572 -184 -951 + 1 + 4 -210 -170 -110 -536 +105 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) 29,90^ 829-W 875 545 377 988 +I69 + 17 -345 + 1 + 38 - 11 -248 -440 +699 + 24 +203 + 39 Member bank reserves 19,011 -8l4 -817 18,409 602 -375 -439 -704 -113 839 X38 - <54. . 40 +293 -293 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 25,037 - - +271 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,900 million, a decrease of $51 million for the week and an increase of $446 million, from the comparable date a year ago. HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESEBVE BANKS COMBINED (in thousands of dollars) Change since June 23, July 1; 1954 1953 June 30, 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 Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 25,037,437 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 25,075,414 22 144,318 3,796,835 53,551 92,139 50,759,131 2,572 740,475 114 6,713 + -1,510,666 + 25,588,132 + 170,400 - 268,526 19,011,322 - 813,359 874,868 - 345,409 + 1,012 545,071 + 37,326 376,531 -1,120,430 20,807,792 - 556,266 3,229,831 12,639-0 10,347 -1,516,643 49,638,3% - 816,300 + 698,627 + 24,169 1 20,377,101 86l,4o6 - - 21,238,507 358,345 36,745 1,232 - - 2,316,075 6,599,791 13,029,021 3,092,550 25,037,437 102,000 - - - 27,543 766,426 + 60,975 1 8,297 246,471 3,746 7,643 , 195,865-1^+ Ratio gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + 841,271 +].,604,075 744,650 -1,429,425 + 271,271 - + 50,759,131 1,867 271,271 - - - - 625,013 - + - - 272,316 + - q>b 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 - 120,002 71,228 48,774 45,499 208,429 102,000 92,000 194,000 - - 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 1 7,791 572,413 13 + 168 5,809 -1,510,666 - - - 200,966 + 202,230 - 76,189 3,065 239,054 + 108,726 - + 12,665 + 40,337 - 14,914 - 200,966 45.8% 13,509 2,396 1,735 1 16,115 1,057 MATURITY DISTRIBUTION OF LOANS AND SECURITIES JUNE 30, 1954 (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances 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 16,128 20,617 Industrial loans 4 123 1,063 42 36,745 1,232 U. S. Government securities 463,450 2,843,850 12,972,716 6,307,260 1,035,304 1,414,857 25,037,437 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 30, 1954 (in thousands of dollars) H.k.1(b) 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. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement Total Boston 20,377,101 1056,476 861.406 51.891 21,238,507 1108,367 358,345 36,745 1,232 23,000 3,158 — New York Phila. Cleve. Rich. Atlanta 5,521,931 1272,267 1757,430 1037,271 172.655 57.401 78.521 71.624 5,694,586 1329,668 1835,951 1108,895 67,808 7,910 — — 22,687 3,235 1,129 38,633 2,940 18,193 3,374 905,565 3659,647 56.147 782,388 Mpls. Kans.Cy. Dallas SanFran. 819,708 762,997 2320,175 481,246 147.486 48.241 961,712 3807,133 830,629 506,296 860,259 21,188 670 8,678 4,125 103 11,227 3,360 32,561 1,364 61,906 3,925 — — — — — — Chicago St.Louis 25.050 . ,40.551 29.550 82.289 792,547 2402,464 13,864 1,154 38,600 1,530 2,316,075 127,797 6,599,791 364,163 13,029,021 718,915 3.092.550 170.641 25,037,437 1381,516 591,600 140,951 198,504 136,412 117,960 404,892 96,916 1,685,798 401,650 565,648 388,715 336,133 1153,763 276,168 3,328,029 792,921 1116,679 767,383 663,582 2277,707 545,199 789.936 188.206 265.053 182.145 157.507 540.633 129.408 6,395,363 1523,728 2145,884 1474,655 1275,182 4376,995 1047,691 56,876 99,924 162,071 284,742 319,953 562,124 75.944 133.425 614,844 1080,215 91,008 253,235 259,332 721,608 511,962 1424,567 121.519 338.133 983,821 2737,543 Total U. S. Government securities 25.037.437 1381.516 2145.884 1474,655 1275,182 4376,995 1047,691 6.395,363 1523,728 2145,884 614,844 1080,215 983,821 2737,543 Total loans and securities 25,075,414 1384,674 6,403,273 1528,092 2148,824 1478,029 1276,546 4380,920 1048,361 619,072 1083,575 984,975 2739,073 Due from foreign banks F.R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1 1/ 6 2 2 1 144,318 ( 3,269 3,796,835^ 305,757 53,551 6,030 92.139 5.071 22 24,552 735,266 7,590 22.209 8,477 234,886 5,104 5.330 7,552 365,730 5,108 8.115 14,830 297,965 4,607 5.284 1 3 23,261 16,181 270,383. 600,634 3,951 6,366 5.266 15.461 1 1 8,728 7,858 152,562 99,707 4.099 2.232 2,865 1,010 1 1 6,071 6,676 183,057 189,419 2,466 568 4.300 4.626 2 16,863 361,469 7,886 10.146 50,759,131 2836,169 12,955,290 3134,246 4409,915 2927,804 2573,681 8888,604 2068,433 1244,854 2150,956 1992,676 5576,503 1/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 30, 1954 (In thousands of dollars) H.4.1(c) L I A B I L I T I E S Total Boston Federal Reserve notes 25,588,132 1593,787 Deposits: Member bank-reserve accts. 19,011,322 782,477 U.S.Treasurer-general acct. 874,868 79,432 31,988 Foreign Other New York Phila. Cleve. Rich. Atlanta Chicago St.Louis 5,722,574 1820,368 2365,404 1727,730 1369,453 4927,997 1139,547 5,678,395 186,542 1/172,728 885,479 1467,824 97,012 96,263 38,806 48,245 770,291 84,000 26,744 846,069 3122,773 694,505 42,937 95,371 36,646 22,549 72,892 19,927 Mpls. Kans.Cy. Dallas SanFran. 621,811 996,580 724,729 2578,152 455,816 30,229 13,110 920,986 973,641 2413,066 13,940 19,927 51,565 24,647 60,931 53,508 Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,807,792 899,016 6,322,385 1033,009 1622,843 883,017 912,702 3295,720 761,323 501,567 960,741 1050,438 2565,031 91,509 148,922 165,462 318,028 3,229,831 273,930 592,755 198,125 318,235 256,899 239,812 503,867 122,287 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES ADD CAPITAL ACCOUNTS 4 9 , 6 3 8 , 3 ^ 2767,562 12,641,349 3052,129 4307,962 2868,181 2522,636 8729,721 2023,637 1215,278 2106,702 1941,028 5462,209 18,471 26,073 12,104 11,778 36,017 6,073 10,470 13,587 30,180 9,419 83,447 272,316 14,697 57,648 176,633 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 625,013 38,779 45,909 2,140 1,006 762 1,429 521 4,489 1,073 1,137 1,307 3,349 27,543 , 3,011 7,319 10,4T±^° 30,645 9,391 6,211 9,191 8,608 19,792 12,420 46,542 13,248 17,226 195,865^ 12,120 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments ^ 0 12,639 829 3,635 627 1,480 535 66# XI 2,137 480 391 459 399 998 50,759,131 2836,169 12,955,290 3134,246 4409,915 2927,804 2573,681 8888,604 2068,433 1244,854 2150,956 1992,676 5576,503 13#509 2,396 824 2/3,924 999 630 1,242 747 689 580 45 117 1,877 22 513 337 513 835 634 1,377 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,543,175 1633,523 5,910,270 1918,038 2471,227 1821,856 1437,313 5015,634 1185,181 637,481 1024,894 759,515 2728,243 2,670,000 800,000 950,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 100 3,750 2,790 2,609 2,125 16,945,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 2700,000 950,000 500,000 800,000 525,000 1620,000 28,001,617 1842,243 6,270,000 2002,125 2500,000 1927,609 1485,000 5100,000 1305,100 678,750 1082,790 808,000 3000,000 11,043,000 13,617 640,000 2,243 l/ After deducting $372,324,000 participations of other Federal Reserve Banks. 2/ After deducting $9,585,000 participations of other Federal Reserve Banks.
@FedFRASER