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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 November 12, 1953 (For Immediate Release) CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended November 11, Member bank reserves decreased $14-9 million. These reserves were not affected by a sale by the Federal Reserve Banks to the Treasury for retirement of $500 million Treasury notes maturing December 1, 1953, and payment therefor by the deposit of gold certificates with the Federal Reserve Banks. The principal changes reducing reserves were a decrease of $219 million in Reserve Bank credit (exclusive of the $500 million decrease in Reserve Bank holdings of Treasury notes), and increases of $ 1 5 8 million in Other deposits with Federal Reserve Banks, $112 million in Money in circulation, and $1 million in Treasury cash holdings (exclusive of a $500 million decrease in free gold). The principal offsetting change was a decrease of $342 million in Treasury deposits with Federal Reserve Banks. The decrease of $219 million in Reserve Bank credit resulted from a decrease of $458 million in Loans, discounts and advances, and increases of $116 million in U. S. Government securities held under repurchase agreement, $63 million in Float, and $ 6 0 million in U. S. Government securities bought outright (exclusive of the $500 million decrease in notes). Holdings of U. S. Government securities bought outright reflected a decrease of $500 million in notes sold to the Treasury and an increase of $ 6 0 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 Nov. 11, 1953 Change since Nov. 4, Nov. 12 1953 1952 (In millions of dollars) 24,958 -440 * +1,466 165 367 622 26,111 +116 -458 +63 -719 * 22,077 4,878 + 1 + 1 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) 30,5^0 784 +112 -499 * Member bank reserves 19,630 -149 - 817 18,957 673 +145 -294 + 830 +215 h 118 Required reserves (estimated) Excess reserves (estimated) Daily averages for period— Estimated excess reserves of member banks Member bank borrowings at F. R. Banks 322 449 534 808 396 -342 - 4 +158 + 7 - 64 + 90 -1,221 +80 +415 -1,261 + 8 4 + - 635 498 183 190 + 3 + 290 949 132 -1,139 Reflects effect of the sale by the Federal Reserve Banks to the Treasury for retirement of $500 million Treasury notes and payment therefor by deposit of gold certificates with the Federal Reserve Banks. U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,66l million an increase of $6 million for the week and an increase of $366 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 Nov. 4, Nov. 12, 1952 1953 Nov. 11, 1953 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 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 20,543,103 850.100 21,393,203 314,537 364,620 2,320 +500,000 - 7,590 +496,410 - 15,957 -457,359 441 - 876,998 + 136.174 - 740,824 + 25,246 -1,218,807 1,830 2,166,312 5,851,541 13,273,671 3.666.150 24,957,674 165.000 25.122.674 25,489,614 22 160,703 3,635,683 50,043 223.807 51,267,612 + 60,000 - 4,372 + 55,060 + 4 + 3,807. -246,848 +1,965,862 855,825 500,000 855.825 +1,465,862 + 90.000 +1 .555.862 + 335,225 1 + 5,724 359,673 + 4,472 + 61.924 667,907 + 603,875 — 817,801 183,548 190,164 289.861 901,652 439,691 2.576 734,892 + -500,000 — -440,000 +116.000 -324.000 -781,800 — 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 26,237,641 + 87,747 19,629,548 321,677 448,897 534,297 20,934,419 3,013,828 21.741 50,207,629 -148,964 -342,392 - 3,679 +158.350 -336,685 - 8,222 + 1,724 -255,436 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 262,987 584,676 27,543 184.777 51,267,612 + Ratio of gold certificate reserves to deposit and F. R, note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 45.4% 251 *•» — + - + + + 14,737 46,334 + 5,914 667,907 —— + 8,??? -246,848 + 20,969 3,101 1,3% 889 204 — + 1.2% 3,869 785 (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 Industrial loans 327,991 36,521 108 472 697 1,076 75 364,620 2,320 U. S. Government securities 426,000 8,897,062 6,558,091 6,452,264 1,374,400 1.414.857 25,122,674 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 11, 1953 (In thousands of dollars) H.4.1(b) A S S E T S Total Gold certificates Redemption fund for F. R. notes Boston 20,543,103 1074,686 850.100 53,708 Total gold certificate reserves 21,393,203 1128,394 Other cash 25,849 314,537 Discounts and advances 364,620 8,117 — — Industrial loans 2,320 U. S. Govt, securities ; Bought outright-Bills 2,166,312 119,286 Certificates 5,851,541 322,209 Notes 13,273,671 730,901 Bonds 3,666,150 201,873 Total 24,957,674 1374,269 Held under repurchase agreement 16 5,000 - New York Phila. Cleve. Rich. 5,357,925 1247,648 1775,613 1102,740 146,377 60,595 83.235 73,248 5,504,302 1308,243 1858,848 1175,988 69,585 48,870 — — 21,814 8,010 1,696 19,217 29,919 — 16,868 23,548 80 Atlanta Chicago St.Louis 914,904 3760,092 866,514 500,085 813,216 142.499 49,721 25,672 39,678 974,483 3902,591 916,235 525,757 852,894 17,448 13,901 7,023 12,768 96 10,943 31,927 59,579 24,885 55,136 448 51,188 62,169 — — 557,668 130,529 183,896 128,462 110,805 374,408 91,139 1,506,351 352,579 496,731 346,996 299,300 1011,334 246,180 3,417,015 799,792 1126,789 787,129 678,935 2294,115 558,437 943,770 220,900 311.216 217.403 187,520 633.628 154,238 6,424,804 1503,800 2118,632 1479,990 1276,560 4313,485 1049,994 1.6 5 % QQQ —— — — — Mpls. Kans.Cy. • — 708,572 2421,108 30.651 85.137 739,223 2506,245 12,062 43,213 — — 94,413 53,467 144,422 255,028 327,607 578,507 90.484 159,782 615,980 1087,730 — Dallas SanFran. 37,655 27,042 — — 86,053 236,186 232,441 637,970 527,270 1447,174 145,630 399,706 991,394 2721,036 ~ Total U. S. Government securities 25.122.674 1374.269 6.589.804 1503.800 2118.632 1479.990 1276.560 4313.485 1049.994 615.980 1087.730 Total loans and securities 6,638,674 1513,506 2148,551 1503,618 1332,144 4375,654 1063,895 628,844 1119,657 1034,607 2748,078 25,489,614 1382,386 Due from foreign banks 22 F.R.notes of other banks 160,703 Uncollected cash items 3,635,683 Bank premises 50,043 Other assets 223.807 TOTAL ASSETS 1 4,152 282,411 5,077 13.349 1/ 6 27,581 698,287 7,073 55.788 2 8,295 216,947 4,488 13.201 2 7,347 308,418 4,526 19.934 1 21,142 313,753 4,766 13.157 1 16,303 272,229 3,625 12.258 3 15,477 529,907 6,739 37.531 1 10,117 145,846 2,909 9.154 1 9,513 132,124 1,028 5.440 1 7,107 198,483 2,133 10.463 991.394 2721.036 1 9,249 137,409 594 9.342 2 24,420 399,869 7,085 24.185 51,267,612 2841,619 13,001,296 3086,496 4366,843 3049,293 2635,928 8919,090 2165,605 1309,730 2201,686 1942,487 5747,539 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 COtiLxxiOiN OF THE FEDERAL RESERVE BANKS OK NOVEMBER 11, 1953 (In thousands of dollars) Total 26,237,641 Federal Reserve notes Deposits: Member bank-reserve accts. 19,629,548 U.S.Treasurer-general acct 321,677 448,897 Foreign Other 534,297 New York Cleve. Rich. 1607,293 5,764,201 1860,711 2431,089 1851,113 1399,868 5057,017 1203,916 642,985 1018,423 824,742 23,665 18,078 867,578 3199,986 33,117 37,627 487,026 22,620 11,055 27,481 916,452 22,843 16,804 36,478 548,182 992,577 1019,269 2669,779 89,679 147,896 129,901 312,134 839,848 22,639 26,974 6,760 5,875,076 33,332 1/137,127 322,871 Phila. 907,098 14,324 1515,197 33,165 1,355 40,682 4,461 22,110 2,513 896.221 6,368,406 955,942 1584,005 867,443 563,302 190,013 252,909 273,496 3,013,828 271.222 Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,934,419 TOTAL LIABILITIES Capital paid in Surplus |Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,207,629 262,987 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments Boston 21,741 6,890 m . 1,153 2,148 1,089 2775,673 12,702,799 3007,819 4270,151 2993,141 14,344 81,616 17,997 24,883 11,424 584,676 36,462 167,503 43,578 54,064 29,248 27,543 3,011 7,319 4,489 1,006 3,349 184,777 12,129 42,059 12,613 16,739 12,131 51,267,612 20,969 2841,619 13,001,296 3086,496 4366,843 3049,293 1,279 3,101 2/ 6,191 1,572 1,281 1,928 748 Atlanta Chicago St.Louis 19,015 60,581 24,063 2.056 730,362 25,741 16,804 15,665 943,773 3300,250 243,137 410,416 788,572 129,723 1,020 3,331 823 Mpls. Kans.Cy. 841 583 Delias SanFran. 743,973 2657,052 977,330 2488,853 20,813 46,878 19,899 44,681 1.227 89,367 831 2,095 2587,798 8771,014 2123,034 11,070 25,803 762 10,495 34,560 84,628 1,429 27,459 1281,429 2159,737 1893,974 5641,060 5,854 10,032 13,228 28,977 23,628 15,131 21,925 25,381 57,325 1,073 1,137 1,307 2,140 521 6,243 8,855 8,597 18,037 9,420 9,002 2635,928 8919,090 2165,605 1,048 52 901 2,872 136 29 797 1309,730 2201,686 524 797 855 1942,48? 5747,539 943 2,117 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 27,123,372 1654,504 5,954,631 1943,856 2510,373 1919,905 1458,928 5143,282 1244,865 654,784 1045,063 779,763 2813,418 11,493,000 640,000 3,220,000 775,000 1000,000 600,000 385,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 21,135 13,635 12,593 31,661 23,198 138,627 7,690 21,230 7,485 16,620!000 12Qo!000 2,900.000 1200,000 1550,000 1350,000 1100,000 2900,000 975,000 500,000 800,000 525,000 1620,000 28,251,627 1847,690 6,141,230 1982,485 2550,000 1973,198 1485,000 5300,000 1343,635 687,593 1111,661 800,000 3021,135 1 / After deducting $ 3 1 1 , 7 5 1 , 0 0 0 participations of other Federal Reserve Banks. 2/ After deducting $ 1 4 , 7 7 8 , 0 0 0 participations of other Federal Reserve Banks.
@FedFRASER