H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) January 18, 1951 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 17, Member ban kreserves increased $1,085 million. The principal changes supplying reserves were an increase of $688 million in Reserve Bank credit and decreases of $215 million in Money in circulation, $168 million in Treasury deposits with Federal Reserve Banks, and $106 million in Other deposits with Federal Reserve Banks. The principal •. offsetting changes were a decrease of $52 .million ,in Gold stoc kand an-increase of $46 million in Foreign:.deposits with Federa lReserve Banks. The increase of $688 million in Reserve Bank credit resulted from increases of $337 millio nin holdings of U. S. Government securities, $324 million in Reserve Bank float, and $28 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected increases of $146 million in bills, $118 million in notes, and $73 million in bonds• The increase for the week of $1,211 million in Required reserve sof member banks reflected the higher reserve requirements which became effective during the week and which raised required reserves approximately $1,150 million. Changes since Member Bank Reserves Jan. 17, Jan. 10, Jan. lb and Related Items 1951 1951 i W' (In millions of dollars) Reserve Bank credit: U. S. Government* securities 20,798 +337 +2,926 Loans, discounts and advances 104 + 28 + 5 Float * 1,021 +324 + 609 Total 21,923 +688 +3,5^0 Gold stock 22,494 - 52 -1,932 Treasury currency outstanding 4,635 -- + 39 Money in circulation 27,200 -215 + 79 Treasury cash holdings 1,303 - 5 - 12 Treasury deposits with F. R. Banks 105 -168 - 276 Foreign deposits with F. R. Banks 904 + 46 6 Other deposits with F. R. Banks 209 -106 - 261 Other F. R. account s(net) 743 - 2 + 24 Member bank reserves 18,587 +1,085 +2,100 Required reserves (estimated) 17,578 +1,211 +1,9% Excess reserves (estimated) 1,009 -126 + 152 Daily average excess reserves (estimated) 952 -145 - 36 * 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) Jan* 17, JBDU 19 Jam 18, 1951 1951 1950 A S S E TS Gold certificates 20,664,402 - 40,002 • 1,981,029 Redemption fund for F. R, notes 586,245 2,570 + 38,172 • Total gold certificate reserves 21,250,647 42,572 1,942,857 - - Other cash 352,916 + 33,414 + 26,773 Discounts and advances 100,358 + 27,470 + 3,731 Industrial loans 3,301 + 14 + 1,200 U. S. Government securities: Bills 1,257,964 + 146,100 2,530,423 Certificates «• - «. — - 6,398,450 Notes 14,793,451 + 118,300 +14,242,751 Bonds 4,746,925 + 72,550 2,387,225 - Total U. S. Government securities 20,798,340 4- 336,950 + 2,926,653 Total loans and securities 20,901,999 + 364,434 + 2,931,584 Due from foreign "banks 24 14 — mm - F. R. notes of other banks 183,555 ~ 2,974 + 20,715 Uncollected cash items 4,033,542 + 818,283 + 1,064,194 Bank premises 40,242 + 159 + 6,219 Other assets 103,464 + 7,338 + 1,944 TOTAL ASSETS 46,866,389 +1, 176,082 + 2,108,558 L I A B I L I T I ES Federal Reserve notes 23,161,401 - 179,738 + 63,624 Deposits: Member bank—reserve accounts 18,587,018 +1,084,806 + 2,100,225 U. S. Treasurer--general account 105,009 - 167,595 - 276,284 Foreign 904,410 + 46,820 5,229 Other 209,474 - 105,616 - 260,462 Total deposits 19,805,911 + 858,415 + 1,558,250 Deferred availability cash items 3,012,526 + 494,429 + 455,409 Other liabilities and accrued dividends 6,978 533 1,193 TOTAL LIABILITIES +1,173,639 + 2,076,090 C A P I T AL A C C O U N TS Capital paid in " 226,785 446 + 13,596 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 115,223 "997 2,977 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,866,389 +1,178,082 + 2,108,558 Ratio of gold certificate reserves to deposit and F. R, not eliabilities combined 49,5$ .9# 6,6# Contingent liability on acceptances purchased for foreign correspondents 25,911 869 + 16,680 Industrial loan commitments 2,417 28 + 513 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 17, 1951 (Callable Government securities classified according to nearest cal ldate) Discounts and Industrial U. S. Government advances loans securities Within 15 days 98,605 68 38^,547 16 to 90 day s1,668 231 872,417 91 days to 1 year 85 2,101 12,16$,003 Over 1 year to 5 years — 901 3,855,973 Over 5 years to 10 year s-- 986,700 Over 10 years — __ 2.532,700 Total 100,358 " 37301 20,798,340 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 17, 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 20,664,402 735,918 6,727,159 1154,635 1390,393 854,858 865,409 4263,487 581,462 347,187 769,722 567,215 2406,957 Redemption fund for F. R. notes 586,245 53,675 49,599 49,944 66,908 56,619 39,281 99,879 40,619 21,419 34,939 25,375 47,988 JTotal gold certificate reserves 21,250,647 789,593 6,776,758 1204,579 1457,301 911,477 904,690 4363,366 622,081 368,606 8o4,66l 592,590 2454,945 Other cash 352,916 37,300 70,664 26,027 32,134 24,886 21,585 48,507 15,963 7,208 14,093 15,602 38,947 Discounts and advances 100,358 170 37,805 4,175 7,114 2,675 4,772 36,645 2,800 222222 3,980 --- — — — Industrial loans 3,301 — — — 26 2,212 1 126 7 — 118888 --- 741 U. S.. Govt, securities Bills 1,257,964 18,884 356,185 79,152 117,505 83,645 67,877 187,632 64,100 39,936 59,230 60,197 123,621 Notes 14,793,451 1050,024 3,308,008 930,804 1381,856 983,661 798,240 2206,517 806,524 469,633 696,535 707,896 1453,753 Bonds 4,746,925 336,932 1,061,474 298,676 443,411 315,637 256,139 708,028 258,798 150,696 223,504 227,150 466,480 Total IX.S.Government securities 20,798,340 1405,840 4,725,667 1308,632 1942,772 1382,943 1122,256 3102,177 1129,422 660,265 979,269 995,243 2043,854 Totals loans and securities 20,901,999 1406,010 4,763,498 1315,019 1949,88? 1385,744 1127,035 3138,822 1132,222 660,675 983,249 995,243 2044,595 Due from foreign banks 24 2 1/ 7 2 2 1 1 3 1 1 1 1 2 EUR..notes of other bank s183,555 8,464 26/746 8,096 10,845 41,528 16,201 20,353 9,839 5,782 8,148 8,538 19,015 Uncollected cash items 4,033,542 333,343 751,723 253,870 425,64? 321,568 271,971 669,800 173,109 103,906 206,4l6 180,991 341,198 Bank premises 40,242 1,073 7,657 2,920 4,790 2,887 1,810 5,169 3,526 1,11k 2,623 677 5,996 Other assets 103,464 7,395 23,026 6,215 9,956 7,015 5,428 15,638 5,390 3,214 5,057 4,875 10,255 -TOTAL ASSETS 46,866,389 2583,180 12,420,079 2816,728 3890,562 2695,106 2348,72 18261,658 1962,13 11150,506 2024,248 1798,517 4914,953 l/ After deducting $17,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS ON JANUARY 17, 1951 thousands of dollars) T T A B T L I T I ES Total Boston New York Phlla. Cleve. Rich. Atlanta Chicago St.Louis Mpls, Kans.Cy. Dallas Ss^Fran. B - 1s iara a 'lag :s i- g; s11 Federal Reserve notes 23,161,401 1400,213 5,213,930 1639,501 2083,106 1579,596 1250,520 a 3,933 1078,860 605,149 907,442 622,217 2280,934 9 3 ^ K° » %3 K « K « % h3 & 6'X X °accrueiaS"deJd alia 6.978 647 2.285 245 to4 24§ 2^ 925 ^ 122 230 285 525. 3 Hi -inieiiiiiiiiiil " ^ I ^ M C o S r a "™ 46,856,389 2583,180 12,420,079 2816,728 3890,562 2695,106 2348,72 18261,658 1962,131 1150,506 2024,248 1798,517 4914,953 Contingent liability on 2J 7 5 2 2 2, 1 88 8 9 2, lEEEESoErSEbnL ^ :- $ -- ^ ~ gs ~ ^° t£ "'t ™ FEDERAL RESERVE AGENTS' ACCOUNTS F.B. notes outstanding 24,267,267 1488,075 5,462,794 1702,362 2181,941 1654,250 1339,936 4627,780 1122,238 619,434 942,971 674,655 2450,831 COto!r=St!ficItes n°tes: 13,304,000 440,000 4,570,000 750,000 865,000 600,000 625,000 2700,000 350,000 210,000 280,000 214,000 1700,000 s "|HEsr §tf£5 » %&%%% ^ if After deducting $613,790,000 participations of other Federa lReserve Banks. 2/ After deducting $17,959,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis