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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) March 11, 1954 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 10, Member bank reserves increased $100 million. The principal changes supplying reserves were decreases of $81 million in Treasury deposits with Federal Reserve Banks, $56 million in Other deposits with Federal Reserve Banks, and $15 million in Money in circulation. The principal offsetting changes were a decrease of $51 million in Reserve Bank credit and an increase of $11 million in Foreign deposits with Federal Reserve Banks. The decrease of $51 million in Reserve Bank credit resulted from a decrease of $318 million in Float and increases of $145 million in Loans, discounts and advances and $123 million in U. S. Government securities bought outright. The increase in U. S. Government securities bought outright was entirely in bills. Member Bank Reserves and Related Items March 10, 1954 Change since March 11, March 3, 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 24,682 +123 413 543 25,638 21,963 4,917 +145 -318 - 51 + 5 + 5 + 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) 29,870 820 447 487 346 907 - 15 + - 81 + 11 - 56 - 1 Member bank reserves 19,640 +100 18,860 780 - 54 +154 606 +138 - 30 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 236 4* 829 - - + - + + 906 227 303 648 93 90 479 116 94 2 78 572 - + 961 389 h 49 -1,171 U. S. Government securities held in custody by the Federal Reserve Panics for foreign account, were $2,741 million, a decrease of $1 million for the week and an increase of $598 million from the comparable date a year ago. H.4.l|a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since March 11, March 3, 1953 March 10, A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Other cash ~ Discounts and advances Industrial loans U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U, S. Government securities 20,399,101 875,466 21,274,567 426,376 411,342 1,660 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + - 9,997 2,579 7,41b 16,307 144,610 68 + 123,200 - + - + + - + - 275,000 123,108 151,892 47,023 903,577 2,290 1,960,975 6,051,191 13,029,021 3,641,150 24,682,337 + 123,200 +1,400,021 +1,055,475 744,650 880,825 + 830,021 24,682,337 + 123,200 4- 830,021 25,095,339 22 171,732 3,516,467 52,842 154,043 50,691,388 + 267,742 - L I A B I L I T I E S Federal Reserve notes Deposits: Member bank--reserve accounts U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 19,640,328 447,483 486,847 346,184 20,920,842 2,973,942 16,840 49,594,240 C A P I T A L A C C O U N T S Capital paid in ™" Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 269,749 625,013 27,543 174,843 50,691,300 25,682,616 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 45.7$ 9,372 3,168 - — — - - 3,454 415,106 23 7,675 152,009 + - 75,846 1 2,076 182,127 3,654 31,003 388,116 38,062 + 63,566 - - - + + - - + - + - + - 100,014 80,779 11,065 55,334 25,034 96,146 854 158,386 12 + — — + - - + - + - + + - + + — — + - - + 12,987 40,337 — — 6,367 152,009 + 571,404 116,693 94,357 1,746 547,322 45,110 631 438,015 - 3,425 388,116 .2$ .1$ 19 22 + 18,127 662 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 10, 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 390,865 20,477 Industrial loans 211 369 1,033 47 411,342 1,660 U. S. Government securities 416,300 2,682,441 12,736,375 6,057,964 1,374,400 1.W.857 24,682,337 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 10, 1954 (in thousands of dollars) H.4.i(t>) ASSETS Gold certificates Ademption fund for F. R. notes Total gold certificate reserves Other cash Discounts and advances Industrial loans TJ. S. Govt, securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreement Total Boston 20,399,101 1015,098 875,466 New York Cleve. 179,231 58,778 80*738 66,534 5,877,393 1 3 0 3 , 7 0 2 1835,767 1125,044 426,376 411,342 1,660 32,620 14,945 — 85,396 147,765 — 27,921 40,175 1,335 35,783 14,602 — l 960,975 6!051,191 107,979 333,203 504,810 1,557,746 118,156 364,609 166,465 513,680 a Rich. Atlanta Chicago St.Louis 5,698,162 1244,924 1755,029 1058,510 53,660 21,274,567 1 0 6 8 , 7 5 8 Phila. 9 0 6 , 8 9 0 3743,923 8 3 0 , 8 9 9 57,678 149,875 48,918 964,568 3893,798 8 7 9 , 8 1 7 76,580 76,705 — 24,756 7,650 — 116,287 100,302 338,920 358,836 3 0 9 , 5 1 2 1 0 4 5 , 8 3 9 82,501 254,580 22,961 26,175 10 33,778 27,925 201 g:g a Mpls. Kans.Cy. 492,262 773,521 25,327 41,070 Dallas SanFran. 693,857 2 1 8 6 , 0 2 6 30,031 83,626 517,589 814,591 7 2 3 , 8 8 8 2269,652 8,336 6,745 114 14,287 15,970 48,399 8 5 , 4 6 5 149,349 2 6 3 , 7 2 9 a « M 18,217 11,850 45,741 20,835 77,895 2 1 3 , 7 9 6 240,371 659,737 g:g 24,682,337 1359ll08 6,353^925 1487^209 2095,259 1463,663 1262,477 4265,898 1038,411 609,185 1075,730 980,456 2691,016 Total U. S. Government securities 24,682,337 1359,108 6 , 3 5 3 , 9 2 5 1 4 8 7 , 2 0 9 2 0 9 5 , 2 5 9 1463,663 1 2 6 2 , 4 7 7 4 2 6 5 , 8 9 8 1 0 3 8 , 4 1 1 609,185 1075,730 980,456 2 6 9 1 , 0 1 6 Total loans and securities 25,095,339 1374,053 6,501,690 1528,719 2109,861 1489,848 1290,603 4342,603 1046,061 616,044 1091,700 992,306 2711,851 Due from foreign banks F.R. notes of other "banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 l 171,732 3,023 3,516,467 256,815 154^043 8^231 l / 6 2 2 1 1 3 1 207066 7,635 6,472 28,540 35,600 18,079 8,074 6 3 1 , 8 2 3 2 2 3 , 4 4 7 3 1 7 , 5 4 4 2 9 7 , 0 6 3 2 7 4 , 7 6 4 561,153 1 6 2 , 4 6 0 3&608 9!l48 13] 473 9^294 I',ill 25:881 6^71 1 1 1 § n 9,828 8,444 7,235 18,736 94,970 185,922 168,378 342,128 3^02 7^01 6,684 16/792 5 0 , 6 9 1 , 3 8 8 2 7 4 9 , 6 6 6 1 3 , 1 6 2 , 4 6 0 3 1 0 5 , 3 7 0 4 3 2 4 , 0 8 9 2 9 7 7 , 4 3 4 2 6 1 1 , 7 3 0 8 9 2 4 , 5 0 7 2130,327 1251,589 2124,551 1 9 1 7 , 2 9 0 5412,375 l/ After deducting $16,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 10, 1954 (In thousands of dollars) H.4.1(c) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Federal Reserve notes 2 5 , 6 8 2 , 6 1 6 1579,1^7 5 , 6 9 6 , 5 9 8 1 8 3 6 , 9 5 3 2 3 9 0 , 1 7 2 1 7 6 1 , 1 6 6 1 3 6 8 , 2 5 0 Deposits: Member bank-reserve accts. 19,640,328 799,793 6 , 1 1 9 , 7 8 9 9 1 7 , 0 0 0 1479,105 8 3 8 , 3 9 2 907,203 U.S.Treasurer-general acct, 447,483 31,208 95,778 41,582 33,743 41,659 25,325 Foreign 486,847 2 8 , 6 7 0 1/153,128 34,780 43,240 23,970 20,210 Other 346,184 2,663 283,594 873 5,190 3,072 2,006 Total deposits 2 0 , 9 2 0 , 8 4 2 8 6 2 , 3 3 4 6 , 6 5 2 , 2 8 9 994,235 1 5 6 1 , 2 7 8 907,093 954,744 Deferred avail, cash items 2,973,942 239,884 500,439 192,711 2 7 1 , 0 7 1 2 5 0 , 0 5 0 237,947 Other liabilities and accrued dividends 16,840 889 4,951 850 1,726 846 751 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 4967,083 1166,125 Mpls. Kans.Cy. 635,547 999,008 SanFran 713,254 2569,31 3203,695 728,171 458,380 883,945 964,224 2340,63] 59,150 27,717 30,289 26,299 1 6 , 5 8 8 18,14; 65,330 17,860 11,750 17,860 2 2 , 0 9 0 47,95c 702 8,602 1,737 5,519 876 31.35C 3328,877 7 8 2 , 3 5 0 471,415 1 3 7 , 3 1 8 2,869 598 5 0 2 , 1 5 6 933,623 1003,778 2438,08= 84,339 147,988 148,792 291,9# 480 608 646 1,626 4 9 , 5 9 4 , 2 4 0 2 6 8 2 , 2 5 4 1 2 , 8 5 4 , 2 7 7 3 0 2 4 , 7 4 9 4 2 2 4 , 2 4 7 2919,155 2 5 6 1 , 6 9 2 8 7 7 0 , 2 4 4 2 0 8 6 , 3 9 1 1 2 2 2 , 5 2 2 2 0 8 1 , 2 2 7 1 8 6 6 , 4 7 0 5 3 0 1 , 0 1 2 269,749 1 4 , 6 1 4 83,235 18,298 25,789 11,930 11,593 35,550 9,327 6,032 10,260 13,458 29,663 625,013 38,779 176,633 45,909 5 7 , 6 4 8 31,750 28,034 90,792 25,465 16,219 23,456 28,146 6 2 , 1 8 2 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4c 174,843 1 1 , 0 0 8 40,996 11,925 15,399 11,250 9.649 26,492 8.623 5,743 8,471 7,909 17.37S 5 0 , 6 9 1 , 3 8 8 2 7 4 9 , 6 6 6 1 3 , 1 6 2 , 4 6 0 3105,370 4 3 2 4 , 0 8 9 2 9 7 7 , 4 3 4 2 6 1 1 , 7 3 0 8 9 2 4 , 5 0 7 2 1 3 0 , 3 2 7 1 2 5 1 , 5 8 9 2 1 2 4 , 5 5 1 1 9 1 7 , 2 9 0 5 4 1 2 , 3 7 5 9,372 3,168 573 2/2,698 696 1,356 865 748 479 47 4o4 127 1,307 25 357 235 357 865 442 959 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 2 6 , 8 2 2 , 0 6 3 1652,921 5,933,431 1 9 4 4 , 2 2 6 2497,323 1 8 5 8 , 3 7 3 1 4 4 5 , 8 3 8 5 1 1 7 , 8 9 0 1 2 2 0 , 4 8 7 n,09 3 ,ooo 6 4 0 , 0 0 0 245,585 13,420 1 7 , •1J5inVcOc 5 , 0 0 0 1 nAc'lXX 200,000 28.403. . 4 9 3 , 5 c8r5Hc;1 8 5 3 , 4i2l0Pn 649,924 1029,038 746,332 2726,280 2 , 6 7 0 , 0 0 0 8 0 0 , 0 0 0 1 0 5 0 , 0 0 0 6 2 5 , 0 0 0 4 3 5 , 0 0 0 2400,000 3 5 5 , 0 0 0 1 7 5 , 0 0 0 2 8 0 , 0 0 0 2 8 3 , 0 0 0 1 3 8 0 0 0 0 137,815 23,325 — 24,900 6,700 6,120 15,020 ---.Q 18,285 3 , 6 0 0 , 0 0 0 1 2 0 0 , 0'0 0 1550,000 1 3 0 0 . 0 0 0 lioo.ooo 2 8 o o , o o o 9 yuu, 6 0 , 0 0U0IAJ 5 0?VV,VVV 0 , 0 0 0 8 0OVV,VVV 0,000 525, 0 0 0QUO 1 6 J.OZO. 2 0 , 0 0 0O 6h, 4 k.(Y7 0 7 , 8 1 5 Rn: 2 0 2 3or\oo , 3 2 5 2 600c 0 0 , 0 0 0 1 9 4 9 , 9t0o) 0,/-1,5 3nnn 5 , 0 0 -0i 5 2 0 0 , 0 0 0 1 3 2 1 , 7 0 0 6 8„1 —, 1 2 0f 1ts, 0 9 5 ,'0 2 0 8 0 8 ,'0 0 0 3 0 1 8 , 2 8 5 j 7 After deducting $333,700,000 participations of other Federal Reserve Banks. _2/ After deducting $6,674,000 participations of other Federal Reserve Banks.
@FedFRASER