H.4.1 Factors Affecting Reserve Balances of Depository Institutions

H.U.I BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM (For Immediate Release) January 4, 1951 CONDITION OF THE FEDERA LRESERVE BAMS Member Bank Reserves and Related Items During the week ended January 3> member ban kreserves increased $517 million. The principal changes supplying reserves were decreases of $240 million in Treasury deposits with Federal Reserve Banks, $231 million in Money in circulation, and $13 million in Other F, R, accounts ,and an increase of $159 million in Reserve Bank credit. The principal offsetting changes were a decrease of $89 million in Gold stoc kand increases of $22 million in Foreign deposits with F. R, Bank sand $13 million in Other deposit swith F. R. Banks, The increase of $159 million in Reserve Bank credit was made up of increases of $23^ million in holdings of U. S. Government securities and $200 million in Reserve Bank float, offset in part b ya decrease of $273 million in holdings of Loans, discounts and advances. Holdings of Government securities reflected increases of $2,237 million in notes, $296 million in bills, and $35 million in bonds, and a decrease of $2,33^ million in certificates, NOTE. In the interest of improved statistica lanalysis, beginning this week the tabulation below wil lshow Reserve Bank float, foreign deposits, and "other" deposits with F, R, Banks ,separately, and required and excess reserves of member banks •Some changes are also being made in arrangement an dcaptions of the statement, the only one of substance being in the maturity distribution of loans and securities, in which th enumber of groups ha sbeen reduced and callable securities will be classified on the basis of earlies tcall date. Changes since Member Bank Reserves Jan. 3, Dec. 27, Jan. 4 and Related Items 1951 1950 2959 (In millions of dollars) Reserve Bank credit: U. S, Government securities 20,571 +234 +1,742 Loans, discounts and advances 30 -273 - 67 Float * 1,279 +200 + 734 Total 21,879 +159 +2,4o8 Gold stock 22,706 - 89 -1,721 Treasury currency outstanding 4,634 + 3 + 37 Money in circulation 27,685 -231 + 134 Treasury cash holdings 1,299 + k 20 Treasury deposits with F. R. Banks 546 -240 1 Foreign deposits with F, R. Banks 942 + 22 + 184 Other deposits with F. R, Banks 308 + 13 - 238 Other F. R, account s(net) 747 - 13 + 28. Member bank reserves 17,691 +517 + 636 Required reserves (estimated) 16,485 +101 + 888 Excess reserves (estimated) 1,206 +4l6 - 252 Daily average excess reserves (estimated) 1,184 +302 + 53 * Excess Of uncollected cash items, over deferred-Availability cash items, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since Jan. 3, Dec. 2r7, Jan. 4, 1951 1950 1950 A S S E TS Gold certificates 20,870,403 102,003 : -1,759,928 Redemption fund for F. R. notes 587,228 + 11,700 + 35,297 Total gold certificate reserves 21,457,631 90,303 -1,714,731 - Other cash 273,653 + 47,053 + 11,155 Discounts and advances 27,735 - 273,102 - 67,539 Industrial loans 2,572 + 175 + 517 U. S. Government securities: Bills 1,165,471 + 295,585 -3,613,776 Certificates -2,334,195 -6,275,450 ' Notes 14,781,071 +2,236,995 +14,218,871 Bonds 4,623,975 + 34,700 - 2,588,225 Total U. S. Government securities 20,570,517 + 233,085 + 1,741,420 Total loans and securities 20,600,824 39,842 + 1,674,398 Due from foreign banks 24 14 F. R. notes of other banks 167,615 + 19,779 + 8,351 Uncollected cash items 4,301,643 + 571,421 + 1,308,350 Bank premises 39,957 + 35 + 6,224 Other assets 89,597 - 28,415 2,414 TOTAL ASSETS 46,930,944 + 479,728 + 1,291,319 L I A B I L I T I ES Federal Reserve notes 2233,,554444,,004422 116633,,110077 ++ 110044,,001122 - Deposits: Member bank--reserve accounts 17,690,942 4- 517,137 + 635,825 U. S. Treasurer—general account 546,443 - 239,630 413 Foreign 942,032 + 21,486 + 183,666 Other 308,246 + 13,581 - 237,671 Total deposits 19,487,663 + 312,574 + 581,407 Deferred availability cash items 3,023,014 + 371,852 + 574,248 Other liabilities and accrued dividends 5,734 - 6,969 3,509 TOTAL LIABILITIES 46,060,453 + 514,350 + 1,256,158 C A P I T AL A C C O U N TS Capital paid in 225,664 + 677 + 13,918 Surplus (Section 7) 510,022 + 21,849 + 21,849 Surplus (Section 13b) 27,543 — ~ — — Other capital accounts 107,262 57,148 606 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,930,944 + 479,728 + 1,291,319 Ratio of gold certificate reserves to deposit and F. R. not eliabilities combined 4499..99%% .356 44..88## - Contingent liability on acceptances purchased for foreign correspondents 2222,,007788 + 443311 + 12,270 Industrial loan commitments 3,688 2 + 1,733 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 3, 1951 (Callable Government securities classified according to nearest cal ldate) Discounts and Industrial U. S. Government advances loans securities Within 15 days 25,616 50 306,820 16 to 90 days 2,006 239 858,651 91 days to 1 year 113 1,419 12,235,923 Over 1 year to 5 years 864 3,675,823 Over 5 years to 10 years 981,700 Over 10 years 2,511,600 Total 27,735 2,572 20,570,517 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JANUARY 3, 1951 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. -Dallas SanFran. Gold certificates 20,870,403 769,242 6,701,303 1257,271 I4l8,6l2 936,126 854,163 4106,673 633,105 396,717 788,735 565,722 2442,734 Redemption fund for F. R. notes 587,228 53,980 50,911 50,563 67,289 53,788 39,541 100,276 40,725 21,46? 35,034 25,464 48,190 Total gold certificate reserves 21,457,631 823,222 6,752,214 1307,834 1485,901 989,914 893,704 4206,949 673,830 4l8,l84 823,769 591,186 2490,924 Other cash 273,653 29,342 53,058 19,545 24,245 19,809 18,981 35,301 14,002 6,c48 10,630 11,458 31,234 Discounts and advances 27,735 525 7,780 3,570 2,549 375 4,125 296 2,700 5,000 815 Industrial loans 2,572 — 27 2,218 1 130 7 —- --- 189 U. S. Govt, securities: Bills ' 1,165,471 73,137 270,202 73,332 108,866 77,495 62,887 173,836 63,540 36,999 54,875 55,771 114,531 Notes 14,781,071 1049,145 3,305,239 930,025 1380,700 982,838 797,572 2204,671 805,849 469,240 695,952 707,304 1452,536 Bonds 4,623,975 328,206 1,033,981 290,940 431,925 307,462 249,505 689,689 252,095 146,793 217,715 221,266 454,398 "Total U.S.Government securities 20,570,517 1450,488 4,609,422 1294,297 1921,491 1367,795 1109,964 3068,196 1121,484 653,032 968,542 984,341 2021,465 Total loans and securities 20,600,824 1451,013 4,617,229 1300,085 1924,041 1368,300 1114,096 3068,492 1124,184 658,221 969,357 984,341 2021,465 Due from foreign banks 24 2 1/ 7 2 2 1 1 3 1 1 1 1 2 F.R.notes of other bank 1s67,615 5,364 22%96o 10,558 10,632 34,621 18,512 19,101 8,878 5,663 8,421 8,746 14,159 Uncollected cash item s4,301,643 394,740 924,151 261,078 399,858 366,575 289,996 692,653 192,983 105,844 219,627 184,799 269,339 Bank premises 39,957 1,073 7,657 2,920 4,794 2,871 1,720 5,062 3,509 1,114 2,623 677 5,937 Other assets 89,597 6,572 19,766 5,478 8,436 6,099 4,734 13,501 4,686 2,753 4,450 4,214 8,908 TOTAL ASSET S46,930,944 2711,328 12,397,042 2907,500 3857,909 2788,190 2341,744 8041,062 2022,073 1197,828 2038,878 1785,422 4841,968 l/ After deducting $17,000 participation sof other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JANUARY 3, 1951 (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls, Kans.Cy. Dallas SanPran Federal Reserve notes 23,544,042 1425,571 5,313,447 1665,122 2112,208 1617,561 1273,030 4546,112 1095,460 610,156 918,536 641,378 2325,46: Deposits: Member bank-reserve accts.17,690,942 814,020 5,667,791 832,206 1279,611 728,985 719,332 2746,682 680,772 425,277 848,576 872,567 2075,12 U.S.Treasurer-general acct. 546,443 45,826 81,673 62,533 51,935 36,539 42,593 58,619 40,542 29,511 29,910 31,136 35,62( Foreign 942,032 58,647 1/303,421 74,472 84,712 46,545 39,098 128,464 33,512 23,273 34,443 32,582 82,86' Other 308,246 4,328 236,477 2,440 8,789 2,992 877 2,889 7,278 1,209 2,154 1,407 37.40( Total deposits 19,487,663 922,821 6,289,362 971,651 1425,04? 815,061 8o>,900 2936,654 762,104 479,270 915,083 937,692 223l,0i; Deferred avail, cash items 3,023,014 307,236 535,828 202,666 239,137 309,614 228,194 437,477 130,006 84,211 170,965 173,025 204,65: Other liabilities and accrued dividends 5,734 616 1,695 200 527 200 168 830 190 664 180 130 331 TOTAL LIABILITIES 46,060,453 2656,244 12,140,332 2839,639 3776,919 2742,436 2303,292 7921,073 1987,760 1174,301 2004,764 1752,225 476l,46( Capital paid in 225,664 12,225 73,422 15,687 22,105 9,863 8,998 28,946 7,407 5,087 8,318 9,616 23,99c Surplus (Section 7) 510,022 32,246 153,290 39,710 48,014 25,167 22,369 75,345 20,295 13,168 19,047 16,852 44,515 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,14( Other capital accounts 107,262 7,602 22,679 7,975 9,865 7,375 6,323 14,269 6,090 4,199 5,612 5,422 9,85] TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46^930,944 2711,328 12^397,042 2907,500 3857,909 2768,190 2341,744 8o4l,o62 2022,073 1197,828 2038,878 1785,422 4841,966 Contingent liability on acceptances purchased for foreign correspondents 22,078 1,391 2/6,932 1,766 2,009 1,104 927 3,047 795 552 817 773 1,965 Industrial loan commitments 3,688 — — 527 458 54 242 500 500 l,4oi FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,518,331 1495,295 5,503,411 1724,027 2204,077 1694,885 1360,546 4664,831 1137,915 623,207 955,567 685,157 2469,41: Collateral for F.R. notes: Gold certificates 13,404,000 44o,ooo 4,570,000 750,000 865,000 700,000 625,000 2700,000 350,000 210,000 280,000 214,000 1700,00C Eligible paper 20,315 525 7,630 3,570 -- 75 — — 2,700 5,000 815 U.S. Govt, securities Total collateral 1 —. 1 — , f 8 , 6 ( 5 " , '' 0 0 ' 0 • v 1 - 1 • 0 ^ 0,000 1,100,000 ; 1000,0 0 ^ 0 135 0 > , j 0 W 0 W 0 < y 1015,000 750,000 2000,000 900,000 450 , WW 0 ( 0 0 \J KJy 700,0 0 v 0 v v 1 5 v 0 u. 0 v , u 0 v 0 J- 0 v v 1 u, 000,0 u 0 u C v 25,289,315 ly4o,525 5^77,630 1753,570 2215,000 1715,075 1375,000 4700,000 1252,700 665,000 980,815 714,000 2700,00c 1/ After deducting $638,597,000 participations of other Federa lReserve Banks. 2/ After deducting $15,146,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis f