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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 22, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 21, Member bank reserves increased $89 million. The principal changes supplying reserves were decreases of $142 million in Foreign deposits with Federal Reserve Banks, $127 million in Mpney in circulation, and $21 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $206 million in Reserve Bank credit. The decrease of $206 million in Reserve Bank credit resulted from decreases of $188 million in U. S. Government securities bought outright and $29 million in Float, and an increase of $10 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected a decrease of $188 million in bills. 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 July 21, 1954 Change since July 14, July 22, 1954 1953 (In millions of dollars) 24,714 -188 -250 "94 + 10 25,463 21,931 4,958 + 2 -430 -123 -802 -345 654 - 29 -206 +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) 29,854 808 536 402 983 629 -142 + 2 - 2 -197 -459 - 3 +104 + 79 + 36 Member bank reserves 19,141 + 89 -601 18,344 797 + 48 + 4l -754 +153 928 57 +120 + 4 +314 -325 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks -127 2 - 21 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,931 million, an increase of $143 million for the week and an increase of $528 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 July 14, July 22, July 21, 1954 ASSETS 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 1954 20,392,100 + 852,826 21,244,926 177,915 378,725 93,312 1,050 1,993,075 6,599,791 13,029,021 3,092,550 24,714,437 24,714,437 Total loans and securities Due from foreign banks ~* Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,808,799 22 3,854,426 53,764 116,586 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 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS - + + + + 273,337 27,543 213,129 50,635,163 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 10,628 114 - - 188,000 - 188,000 177,258 — — 356,160 214 + 8,181 492,715 - + - 625,013 16,920 - - 25,573,871 + - + 99,160 88,517 21,186 142,504 2,691 72,482 327,921 + 795 498,768 - - - + + + + + + 2,081 2,917 12,471 - - - 19,140,595 535,880 628,948 402,290 20,707,713 3,199,953 14,604 49,496,141 4,998 188,000 50,635,163 1953 517 — - - 97,998 55,742 153,740 5,404 39,270 427,669 1,893 320,771 +1,604,075 744,650 -1,429,425 249,229 + - - - 249,229 678,791 1 6,367 + 3,823 12,202 495,124 - - - - 2l8,8l4 601,659 3,054 104,342 79,715 420,656 + 116,157 4,577 527,890 - + + - - + + 12,759 40,337 - 20,330 - - + - 45.9# + 9,106 2,432 - 5,536 492,715 .2$ 1,093 165 «- mm - 495,124 + - .956 16,182 1,151 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 21, 1954 (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 72,441 20,714 157 93,312 Industrial loans 3 729 278 40 1,050 U. S. Government securities 611,325 2,372,975 12,972,716 6,307,260 1,035,304 1,414,857 24,714,437 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 21, 1954 (la thousands of dollars) H.4.1(b) ASSETS 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 Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 20,392,100 1063,497 5,587,276 1280,006 1746,118 991,970 945,645 3548,933 781,023 480,497 864,360 748,856 2353,919 852,826 51,475 171,086 56.577 77,951 68,276 55,737 146,868 48,067 24,971 40,4l6 29,423 81,979 21,244,926 1114,972 5,758,362 1336,583 1824,069 1060,246 1001,382 3695,801 829,090 505,468 904,776 778,279 2435,898 177,915 378,725 93,312 1,050 1,993,075 6,599,791 13,029,021 3,092,550 24,714,437 10,683 26,723 3,473 — 31,674 76,786 12,950 — 11,383 22,496 6,040 950 8,364 39,477 9,950 — 16,402 19,370 8,839 — 22,312 35,157 3,594 — 19,594 63,751 14,300 — 109,974 509,095 121,294 170,820 117,388 364,163 1,665,798 401,650 565,648 388,715 718,915 3,328,029 792,921 1116,679 767,383 170,641 789,936 188,206 265,053 182,145 1363,693 6,312,858 1504,071 2118,200 1455,631 101,509 336,133 663,582 157,507 1258,731 348,426 1153,763 2277,7<rr 540,633 4320,529 8,368 22,429 7,775 11,377 8,278 5,375 100 10,821 12,595 10,890 — 8,049 12,06l 7,576 18,888 39,602 2,550 — 83,401 48,944 85,989 78,316 217,919 276,168 162,071 284,742 259,332 721,608 545,199 319,953 562,124 511,962 1424,567 129,408 75,944 133,425 121,519 338,133 1034,176 606,912 1066,280 971,129 2702,227 Total U. S. Government securities 24,714,437 1363,693 6,312,858 1504,071 2118,200 1455,631 1258,731 4320,529 1034,176 606,912 1066,280 971,129 2702,227 Total loans and securities 24,808,799 1367,166 6,325,808 1511,061 2128,150 1464,470 1262,325 4334,829 1041,951 612,387 1077,170 978,705 2704,777 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 1 3,854,426 305,166 53,764 6,030 116,586 6.172 37 6 2 2 1 1 3 1 1 1 1 2 694,101 230,719 369,688 295,523 262,550 611,120 165,356 119,342 224,250 198,450 378,161 7,596 5,104 5,094 4,607 3,947 6,366 2,865 1,010 2,468 568 8,109 28,512 7,104 9,986 6,710 6,541 19,930 5,048 2,866 5,399 5,720 12,598 50,635,163 2836,913 12,922,845 3124,452 4384,830 2867,329 2594,215 8751,394 2075,108 1260,729 2237,480 1981,833 5598,035 1/ After deducting $l6,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 21, 1954 (In thousands of dollars) HA.1(c) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,573,871 1593,127 5,725,892 1818,946 2373,039 1713,725 1363,857 4945,031 1134,010 618,878 994,485 720,814 2572,067 Deposits: Member bank-reserve accts. 19,140,595 837,098 5,728,193 930,759 1469,789 768,682 880,690 2976,138 696,576 461,827 949,060 981,894 2459,889 U.S.Treasurer-general acct. 535,880 35,372 90,867 36,648 55,945 43,242 42,031 77,655 30,439 29,900 40,757 27,976 25,048 Foreign 628,948 37,771 1/189,297 45,821 56,966 31,579 26,626 86,069 23,530 15,480 23,530 29,102 63,177 Other 2,701 2,028 3,665 560 Total deposits 20,707,713 914,657 6,325,313 1023,404 1591,650 846,204 951,375 3143,527 757,533 509,050 1016,818 1039,532 2588,650 Deferred avail, cash items 548,469 198,207 315,212 246,107 226,465 498,310 137,626 102,282 180,537 168,225 319,837 3,199,953 258,676 Other liabilities and accrued dividends 14,604 646 4,688 1,443 912 690 651 2,272 649 514 477 527 1,135 TOTAL LIABILITIES Capital paid in Suiplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 49,496,141 2767,372 12,604,362 3041,247 4281,344 2806,682 2542,348 8589,140 2029,646 1230,737 2192,354 1929,220 5481,689 273,337 14,780 83,372 18,511 26,251 12,174 11,837 36,135 9,464 6,088 10,566 13,908 30,251 625,013 38,779 176,633 45,909 57,648 31,750 28,034 90,792 25,465 16,219 23,456 28,146 62,182 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 213,129 12,971 51,159 14,296 18,581 13,374 11,234 33,898 10,012 6,612 9,967 9,252 21,773 50,635,163 2836,913 12,922,845 3124,452 4384,830 2867,329 2594,215 8751,394 2075,108 1260,729 2237,480 1981,833 5598,035 9,106 2,432 555 2/2,645 674 609 837 867 464 45 391 117 1,265 20 346 228 345 774 428 928 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,630,665 1650,207 5,933,450 1905,480 2480,164 1826,511 1435,909 5046,178 1192,618 637,915 1027,724 758,950 2735,559 11,043,000 640,000 2,670,000 800,000 950,000 625,000 485,000 2400,000 355,000 175,000 280,000 283,000 1380,000 35,217 1,948 --4,190 --7,564 — --6,825 4,750 9,940 --— 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 28,023,217 1841,948 6,270,000 2004,190 2500,000 1932,564 1485,000 5100,000 1311,825 679,750 1089,940 808,000 3000,000 l/ After deducting $439,632,000 participations of other Federal Reserve Banks. 2/ After deducting $6,461,000 participations of other Federal Reserve Banks.
@FedFRASER