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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H«4.1 (For Immediate Release) October 8, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended October 7> Member bank reserves decreased $6 million. The principal changes reducing reserves were increases of $103 million in Money in circulation, $19 million in Other F. R. accounts (net), and $18 million in Other deposits with Federal Reserve Banks, and a decrease of $14 million in Reserve Bank credit. The principal offsetting changes were decreases of $118 million in Treasury deposits with Federal Reserve Banks and $28 million in Foreign deposits with Federal Reserve Banks. The decrease of $14 million in Reserve Bank credit resulted from an increase of $113 million in U. S. Government securities bought outright and decreases of $79 million in Float and $48 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $113 million in bills. Member Bank Reserves and Related Items Oct. 7, 1953 Change since Sept. 30, Oct. 8, 1953 1952 (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 25,348 +113 +1,685 284 606 26,238 22,128 4,872 - 48 - 79 - 14 - 739 92 + 854 -1,213 + 85 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) 30,374 1,284 524 484 370 899 +103 - 3 -118 - 28 + 18 + 19 Member bank reserves 19,303 6 936 18,787 516 - 4o + 34 - 780 - 156 644 412 + 97 + 94 - Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member banks Member bank borrowings at F. R. Banks - - + 829 + 4 72 - 239 + 121 + 19 28 521 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,646 million, an increase of $5 million for the week and an increase of $404 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 October 8, Sept. 30, 1952 1953 October 7, 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 outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,081,102 859,405 20,940,507 329,367 281,355 2,809 Total loans and securities Due from foreign banks F, R, notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + - — 2,056,312 5,851,541 13,773,671 3,666,150 25,347,674 + + 25,347,674 25,631,838 22 171,204 3,409,521 50,029 181,592 50,714,080 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 19,303,241 524,267 483,656 369,813 20,680,977 2,803,340 20,985 49,604,055 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 261,740 584,676 27,543 236.066 50,714,080 113,000 + - - - + + — 1,357,998 156,469 1,201,529 111 737,223 1,481 1,690,112 850,825 113,000 + 855,825 1,685,112 + 113,000 + 1,685,112 + 64,849 + — 946,408 1 8,020 20,078 4,375 61,466 201,450 + 766,260 - — - 27,038 434,357 12 11.217 415,478 - — — 65,440 + 26,098,753 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 9,998 2,958 7,040 14,743 47,992 159 + - 5,294 118,137 28,599 18,182 133,848 355,328 292 423,444 — - - + - + 190 + — + + - + - + + + + — — 935,344 71,963 239,081 121,215 1,125,173 71,862 4,572 282,479 13,927 46,334 --- — + „ — 44*8% + 26,050 3,318 — 7,776 415,478 .1% 205 24 + - + 20.768 201,450 2,2% 11,982 2,673 * MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 7, 1953 (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 263,370 17,985 281,355 Industrial loans ... 607 1,160 964 78 2,809 U, S, Government securities 416,404 9,131,658 6,558,091 6,452,264 1,374,400 1.414,857 25,347,674 H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 7, 1953 (in thousands of dollars) A S S E TS Total Gold certificates Redemption fund for F. R. notes Boston 20,081,102 1041,504 859,405 54,247 Total gold certificate reserves 20,940,507 1095,751 Other cash 329,367 Discounts and advances 281,355 Industrial loans 2,809 U. S. Govt, securities: Bought outright— Bills 2,056,312 Certificates 5,851,541 Notes 13,773,671 Bonds 3,666,150 Total 25,347,674 Held under repurchase agreement - 26,504 4,218 - New York Phila. Cleve. Rich. Atlanta 5,408,403 1207,740 1775,324 1090,488 148,406 59,600 84,030 77,813 5,556,809 1267,340 1859,354 1168,301 910,897 3644,077 809,784 450,917 801,905 711,828 2228,235 60,058 143,242 113,229 529,351 123,901 174,559 121,939 322,209 1,506,351 352,579 496,731 346,996 758,433 3,545,729 829,919 1169,233 816,779 201,873 943,770 220.900 311,216 217,403 1395,744 6,525,201 1527,299 2151,739 1503,117 105,179 299,300 704,509 187.520 1296,508 355,396 1011,334 2380,531 633.628 4380,889 - _ „ 49,953 25,797 39,854 970,955 3787,319 859,737 476,714 841,759 68,972 58,711 - - 24,174 18,026 - Dallas SanFran, 25,684 28,429 582 - 22,790 24,900 2,039 Mpls. Kans.Cy. 14,183 20,528 90 - 67,702 22,510 - Chicago St.Louis 15,885 6,714 5,751 18,868 98 10,377 28,239 30,864 85,541 742,692 2313,776 10,535 20,824 36,810 29,388 86,512 50,752 89,620 81,683 224,191 246,180 144,422 255,028 232,441 637,970 579,472 339,948 600,298 547,132 1501,688 154,238 90,484 159.782 145.630 399.706 1066,402 625,606 1104,728 1006,886 2763,555 _ _ _ _ _ Total U. S. Government securities 25,347,674 1395,744 6,525,201 1527,299 2151,739 1503,117 1296,508 4380,889 1066,402 625,606 1104,728 1006,886 2763,555 Total loans and securities 25,631,838 1399,962 6,547,711 1554,238 2169,765 1523,735 1325,519 4439,600 1073,116 Due from foreign banks 22 1 F.R.notes of other banks 171,204 4,441 Uncollected cash items 3,409,521 271,675 Bank premises 50,029 5,050 Other assets 181,592 10,897 TOTAL ASSETS 644,572 1132,967 1027,710 2792,943 1/6 2 2 2 1 1 1 1 1 1 3 25,676 8,884 19,026 10,297 18,285 10,199 27,636 16,449 8,421 8,433 13,457 660,124 216,577 287,767 288,381 231,805 541,075 172,016 104,299 177,297 136,559 321,946 7,091 4,440 4,778 2,150 598 7,056 4,539 3,631 2,921 1,031 6,744 10,624 10,512 45,796 10,064 30,277 15,987 8,584 7,642 19,407 7,330 4,472 50,714,080 2814,281 12,910,915 3086,308 4370,472 3028,917 2584,108 8892,275 2139,427 1250,297 2181,568 1935,936 5519,576 1/ After deducting $16,000 participations of other Federal Reserve Banks, STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 7, 1953 (In thousands of dollars) H.4.1(c) Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 26,098,753 1593,253 5,715,808 1844,193 2422,439 1845,250 1394,252 5034,282 1187,896 Deposits: Member bank-reserve accts. 19,303,241 838,027 5,836,081 910,039 1512,892 814,594. 863,908 3131,375 711,726 U.S.Treasurer-general acct. $24,267 36,112 33,902 43,060 95,092 41,890 55,392 66,611 32,005 Foreign 28,780 1/151,019 483,656 35,385 43,406 23,590 20,287 64,637 17,928 Other 4,342 369,813 1,323 4,672 308,977 3,657 1,770 806 9,105 642,765 1017,706 742,779 2658,130 446,818 914,193 11,795 17,928 966,079 2357,509 23,529 27,404 21,231 47,670 L I A B I L I T I E S Total Boston New York Phila. Cleve. 980,649 1604,030 178,627 239,897 Rich. Atlanta 26,834 964 42,436 438 809 Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,680,977 2,803,340 907,261 243,544 6,391,169 487,924 20,985 961 6,610 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,604,055 2745,019 12,601,511 3004,570 4268,655 2968,961 2532,726 8737,407 2094,030 1220,365 2137,748 1884,908 5408,155 261,740 14,237 81,564 17,833 24,851 11,391 ll,o4o 33,866 8,991 5,849 10,022 13,206 28,890 Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 1,101 584,676 36,462 167,503 43,578 27,543 3,011 7,319 4,489 236,066 15,552 53,018 15,838 2,289 54,064 1,006 21,896 883,731 238,997 941,357 3263,429 770,764 196,122 436,413 134,627 983 29,248 3,349 15,968 995 25,803 762 13,777 3,283 743 486,411 90,604 974,995 1011,648 2465,533 144,266 129,722 282,597 585 781 759 84,628 23,628 15,131 21,925 25,381 1,429 34,945 521 12,257 1,073 7,879 1,137 1,307 10,736 11,134 1,895 57,325 2,l4o 23,066 50,714,080 2814,281 12,910,915 3086,308 4370,472 3028,917 2584,108 8892,275 2139,427 1250,297 2181,568 1935,936 5519,576 26,050 3,318 1,589 2/7,685 1,954 1,479 2,397 749 1,302 52 1,120 138 3,569 30 990 ——— 651 ——— 990 1,172 87O 2,631 — -— FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U. S. Govt, securities Total collateral 27,042,026 1656,261 5,919,229 1910,821 2498,541 1909,589 1453,475 5153,856 1246,105 652,004 1046,367 777,028 2818,750 11,463,000 143,766 3,220,000 745,000 1000,000 600,000 385,000 24oo,ooo 355,000 175,000 280,000 283,000 1380,000 20,575 24,675 — 19,878 —— 6,600 18,793 28,125 21,085 640,000 4,035 16,620,000 1200,000 2,900,000 1200,000 1550,000 1350,000 1100,000 2900,000 975,000 500,000 #00,000 525,000 1620,000 28,226,766 1844,035 6,140,575 1969,675 2550,000 1969,878 1485,000 5300,000 1336,600 693,793 1108,125 808,000 3021,085 l/ After deducting ^332,619,000 participations of other Federal Reserve Banks. 2/ After deducting $18,365,000 participations of other Federal Reserve Banks. —
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