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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) September 3, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 2, Member bank reserves decreased $115 million. The principal changes reducing reserves were increases of $135 million in Money in circulation and $20 million in Foreign deposits with Federal Reserve Banks, and decreases of $60 million in Reserve Bank credit and $50 million in Gold stock. The principal offsetting changes were decreases of $128 million in Treasury deposits with Federal Reserve Banks and $21 million in Other deposits with Federal Reserve Banks. The decrease of $60 million in Reserve Bank credit resulted from increases of $25 million in U. S. Government securities bought outright, $25 million in U. S. Government securities held under repurchase agreement, and $23 million in Float, and a decrease of $133 million in Loans, discounts and advances. Holdings of U. S. Government securities bought outright reflected an increase of $25 million in bills. Member Bank Reserves and Related Items Change since September 2 August 26 September 3 1953 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 25,014 53 394 610 26,071 22,178 4,865 + 25 + 25 -133 + 23 - 60 - 50 + 3 +1,898 13 - 579 51 +1,255 -1,166 + 91 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) 30,240 1,278 541 538 333 859 +135 + 5 -128 + 20 - 21 - 3 + 849 7 - 174 - 277 + 82 + 142 Member bank reserves 19,325 -115 - 435 18,896 4S& + 25 -140 + 615 180 586 506 - 23 + 17 - 1 662 Required reserves (estimated) Excess reserves (estimated) Daily averages for period-Estimated excess reserves of member b Member bank borrowings at F. R. Banks f4 ¥/ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,592 million, an increase of $12 million for the week and an increase of $488 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since September 2, August 26, September 3, 1952 1953 1953 ASSETS Gold certificates Redemption fund for F, R, notes Total gold certificate reserves Other cash Discounts and advances Industrial loans U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 1,722,304 4,995,716 13,773,671 4,521,975 25,013,666 53,000 25,066,666 Total loans and securities Due from foreign banks F, R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 25,460,810 22 172,901 3,426,101 49,968 180,595 50,618,105 20,130,102 862,665 20,992,767 334,941 391,434 2,710 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank—reserve accounts U, S, Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 19,325,147 540,684 538,257 332,915 20,737,003 2,816,193 18.621 49,547,216 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 261,267 584,676 27,543 197.403 50,618,105 + — - + + + + - - + - 25,000 + — - — — - 25,000 24,600 49,600 + - + 83,245 - + — + — - + - - 11,800 6,265 56 9,997 151,432 115,283 128,558 20,619 20,790 244,012 29,504 1,130 159,211 + 774,937 + + - + + + 435,139 174,729 276,477 82,253 804,092 155,663 2.177 128,685 75 + + 14,852 46,334 7.704 151,432 + + 14,972 204,843 + — - + - — — + — - — — + - 1,263,304 6,857,500 8,205,598 713,848 1,897,554 12,800 1,884,754 + - 115,435 1,318,399 164,412 1,153,987 20,105 576,619 2,022 1,306,113 1 8,658 104,605 4,684 68,018 204,843 + - — 44.9$ 25,323 3,450 + + 25,975,399 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 115,000 65,000 50,000 10,063 132,704 141 32 146 + - 2.5% 16,243 2,598 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 2. 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 368,600 22,729 105 391,434 Industrial loans 637 710 1,002 361 2,710 U, S. Government securities 1,225,825 8,897,054 5,702,266 6,452,264 1,374,400 1.414.857 25,066,666 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 2, 1953 (In thousands of dollars) H.4.1(b) A S S E T S Gold certificates Redemption fund for F. R. notes Total Boston 20,130,102 1027,282 862.665 64.918 Total gold certificate 20,992,767 1092,200 reserves Other cash 334,941 Discounts and advances 391,434 Industrial loans . 2,710 U. S. Govt, securities:= 1/ Bought outright— Bills 1,722,304 Certificates 4,995,716 Notes 13,773,671 Bonds 4.521.975 Total 25,013,666 Held under repurchase agreement 53,000 29,478 6,730 - 94,838 275,084 758,433 248.998 1377,353 — New York Phila. Cleve. Rich. 5,342,692 1237,874 1781,433 1056,140 Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 659,724 2331,394 870,506 3771,067 792,660 475,592 783,738 82.885 60.714 134.232 50.276 25.896 40.053 5,483,386 1298,763 1866,432 1139,025 931,220 3905,299 842,936 501,488 823,791 16,397 5,700 5,593 17,000 105 11,253 55,242 140.694 64,778 43,150 - 60.889 21,925 14,172 1,988 84.999 22,393 27,821 - 15,775 26,988 100 26,883 39,520 517 88,094 443,369 103,775 146,205 102,132 1,286,037 301,012 424,081 296,246 255,526 3,545,729 829,919 1169,233 816,779 704,509 1.164.083 272.467 383.866 268.153 231.295 6,439,218 1507,173 2123,385 1483,310 1279,424 53,000 — — ~ •— 70,429 80,185 - - - 297,669 42,508 75,064 72,459 863,420 210,175 123,299 217,728 2380,531 579,472 339,948 600,298 781.542 190.244 111.607 197.081 4323,162 1052,350 617,362 1090,171 — ~ — — 31.095 86.014 690,819 2417,408 11,702 29,241 - 38,335 45,685 - 68,415 187,776 198,445 544,663 547,132 1501,688 179.626 493.013 993,618 2727,140 — — Total U. S. Government securities , 25,066,666 1377,353 6,492,218 1507,173 2123,385 1483,310 1279,424 4323,162 1052,350 617,362 1090,171 Total loans and securities 6,535,368 1523,333 2151,206 1510,398 1319,461 4403,347 1058,050 634,467 1145,413 1022,859 2772,825 25,460,810 1384,083 Due from foreign banks 22 F.R.notes of other banks 172,901 Uncollected cash items 3,426,101 Bank premises 49,968 Other assets 180,595 TOTAL ASSETS 1 6,184 268,544 5,059 10,716 2/ 6 2 11,315 24,527 667,598 222,138 7,109 4,338 10,731 44,965 2 6,890 307,128 4,552 16,057 1 1 20,080 18,918 281,782 225,053 4,803 3,634 10,673 9,922 3 19,693 553,189 6,749 30,155 1 1 1 6,784 16,834 9,005 144,381 102,154 173,915 2,167 2,919 1,033 8,495 4,453 7,274 993,618 2727,140 1 2 7,882 24,789 145,562 334,657 602 7,003 19,507 7,647 50,618,105 2796,265 12,827,737 3092,545 4374,660 2982,537 2535,092 8988,864 2080,963 1266,023 2171,819 1887,074 5614,526 l/ Note on following page relates to allocation of securities in the Open Market Account. 2/ After deducting $16,000 participations of other Federal Reserve Banks. H.U.l(b)-2 Allocation of Securities in the Open Market Account The statements of condition of the Federal Reserve Banks reflect a reallocation effective September 1, 1953 of securities held in the System Open Market Account. Under the reallocation, participations in the account are "based on the size of the Federal Reserve Bank as measured by average total assets. Previously, securities were allocated primarily on the basis of expenses and dividend requirements of the Federal Reserve Banks. Settlement for shifts in participations in the open market account between the Federal Reserve Banks is made through the Interdistrict Settlement (Gold Certificate) Fund. The reallocation, therefore, resulted in some changes in reserve ratios of individual Reserve Banks. It did not, of course, affect the reserve ratio of the twelve Reserve Banks combined or the total amount of assets of any Federal Reserve Bank. H.4.1(c) L I A B I L I T I E S STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 2, 1953 (In thousands of dollars) Total Boston Federal Reserve notes 25,975,399 1588,897 Deposits: Member bank-reserve accts.19,325,147 824,581 U.S.Treasurer-general acct. 540,684 38,104 Foreign 538,257 32,647 Other 332,915 4,553 Mpls. Kans.Cy. Dallas SanFran. 5,705,585 l84l,54o 2420,336 1805,521 1376,512 5019,511 1176,095 634,563 1017,053 738,475 2651,311 5,773,787 92,337 1/160,922 267,762 899,333 1510,422 36,452 44,838 4o,l4o 49,238 2,637 5,436 807,006 45,891 26,760 3,613 847,122 3230,062 46,647 76,750 23,014 73,322 929 706 690,290 26,767 20,338 8,641 458,650 38,510 13,380 1,509 918,118 30,850 20,338 2,212 925,124 2440,652 18,894 44,644 24,084 54,074 723 34,194 978,562 1609,934 191,997 243,857 883,270 235,093 917,712 3380,840 746,036 190,559 437,848 114,339 512,049 89,841 971,518 l4o,446 968,825 2573,564 129,582 281,061 505 694 New York Phila. Cleve. Rich. Atlanta Chicago St. Louis Total deposits Deferred avail, cash items Other liabilities and accrued dividends 20,737,003 2,816,193 899,885 238,929 6,294,808 522,641 18,621 1,112 5,652 TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,547,216 2728,823 12,528,686 3013,101 4276,123 2924,756 2485,597 8841,225 2037,121 1236,958 2129,711 1837,546 5507,569 261,267 14,235 81,519 17,794 24,803 11,376 10,997 33,670 8,970 5,842 10,015 13,164 28,882 584,676 36,462 167,503 43,578 54,064 29,248 25,803 84,628 23,628 15,131 21,925 25,381 57,325 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 197,403 13,734 42,710 13,583 18,6&4 13,808 11,933 27,912 10,723 7,019 9,031 9,676 l8,6lO Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 1,002 1,956 872 8l4 3,026 651 664 1,633 50,618,105 2796,265 12,827,737 3092,545 4374,660 2982,537 2535,092 8988,864 2080,963 1266,023 2171,819 1887,074 5614,526 25,323 3,450 1,545 2/7,464 1,900 1,723 2,331 749 1,267 52 1,089 3,470 4o 963 633 963 886 l,l4o 2,558 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F.R. notes: . Gold certificates Eligible paper U. S. Govt, securities Total collateral 26,928,452 1652,897 5,900,943 1901,450 2504,481 1887,338 1440,333 5134,854 1223,438 648,134 1044,810 770,123 2819,651 11,193,000 390,000 3,220,000 745,000 1000,000 580,000 360,000 2500,000 280,000 175,000 280,000 283,000 1380,000 212,967 6,730 41,650 14,172 — 26,988 — — 5,500 17,000 55,242 16,410,000 1300,000 2,800,000 1200,000 1550,000 1350,000 1100,000 2700,000 965,000 500,000 800,000 27,815,967 1696,730 6,061,650 1959,172 2550,000 1956,988 1460,000 5200,000 1250,500 692,000 1135,242 1/ After deducting $377,316,000 participations of other Federal Reserve Banks. 2/ After deducting $17,859,000 participations of other Federal Reserve Banks. 45,685 525,000 1620,000 808,000 3045,685
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