H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 8.4.1 (For Immediate Release) January 25, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended January 24, Member bank reserve balances decreased $327 million. The principal changes reducing reserves were decreases of $315 million in Reserve Bank credit and $51 million in Gold stock and increases of $151 million in Treasury deposits with Federal Reserve Banks and $36 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $172 million in Money in circulation and $5^ million in Foreign deposits with Federal Reserve Banks. The decrease of $315 million in Reserve Bank credit resulted from decreases of $253 million in holdings of U. S. Government securities and $23^ million in Reserve Bank float, and an increase of $172 million in holdings of Loans, discounts and advances, Holdings of U* S. Government securities reflected decreases of $160 million in notes, $93 Million in bills, and $.3 million in bonds. Changes since Member Bank Reserves Jan. 24, Jan. 17, Jan. 25; and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 20,51+5 -253 +2,781 Loans, discounts and advances 276 +172 + 153 Float * 787 -234 + 373 Total 21,608 -315 +3,308 Gold stock 22,44-3 - 51 -1,982 Treasury currency outstanding 4,635 + 39 Money in circulation 27,028 -172 + 115 Treasury cash holdings 1,303 - 18 Treasury deposits with F. R. Banks 256 +151 - 283 Foreign deposits vith.F..R, Banks 850 - 54 - 84 Other deposits with F. R. Banks 2*4-5 + 36 - 229 Other F. R. accounts (net) 743 + 22 Member bank reserves 18,260 -327 +1,841 Required reserves (estimated) 17,622 + 44 +2,005 Excess reserves (estimated) 638 -371 - 164 - 100 Daily average excess reserves (estimated) 724 -228 * 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 fEDERAL RESERVE BANKS COMBINED >i*;1 thousands of dollars) Change since Jan. 24, Jan. 17, Jan. 25, 1951 1951 1950 A S S E TS Gold certificates 20,621,903 - 42,499 - 2,028,528 Redemption fund for F. R. notes + 2.210 + 40,659 Total gold certificate reserves 21,210,358 - 40,289 - 1,987,869 Other cash 373,253 + 20,337 + 20,617 Discounts and advances 272,316 + 171,958 + 151,895 Industrial loans 3,246 55 1,156 U. S. Government securities: Bills 1,164,864 - 93,100 - 2,519,923 Certificates - 6,398,450 Notes 14,633,251 - 160,200 +14,082,551 Bonds 4,746,62^ - 300 - 2,383,025 Total U. S. Government securities 20.544.740 - 253,600 + 2,781,153 Total loans and securities 20,820,302 - 81,697 + 2,934,204 Due from foreign banks 24 14 F. R. notes of other banks 171,692 - 11,863 + 17,042 Uncollected cash items 3,606,409 - 427,133 + 850,207 Bank premises 40,265 + 23 + 6,057 Other assets 108,520 + 5,056 2,302 TOTAL ASSETS 46,330,823 - 535,566 + 1,842,546 L I A B I L I T I ES Federal Reserve notes 152,863 23,008,538 - + 90,109 Deposits: Member bank--reserve accounts 18,259,903 - 327,115 + 1,840,407 U. S. Treasurer--general account 256,421 + 151,412 - 282,733 Foreign 850,321 - 54,089 83,224 Other 244,664 * 35,190 - 229,524 Total deposits 19,611,309 - 194,602 + 1,244,926 Deferred availability cash items 2,819,222 - 193,304 + 477,257 Other liabilities and accrued dividends ,8.1?5 + 1,217 1,860 TOTAL LIABILITIES 45,447,264 - 539,552 + 1,810,432 C A P I T AL A C C O U N TS Capital paid in — — — — — —— 226,700 85 + 13,100 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 119,294 ±_Jh°Tl - 2.835 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,330,823 - 535,566 + l,t»2,5i>6 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 49,8$ .3% 6.4# Contingent liability on acceptances purchased for foreign correspondents 25,444 467 16,413 Industrial loan commitments 2,468 51 543 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 24, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 267,417 62 355,174 16 to 90 days 4,812 219 809,690 91 days to 1 year 87 2,066 12,007,303 Over 1 year to 5 years 899 3,853,473 Over 5 years to 10 years 986,700 Over 10 years 2,532,400 Total 272,316 3,246 20,544,740 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 24, 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 20,621,903 677,644 6,850,322 1192,730 1399,016 850,888 866,344 4160,975 583,220 362,461 743,500 549,547 2385,256 Redemption fund for F. R. notes 588,455 5533,,554466 49,240 49,708 71,240 55,726 39,168 99,712 40,571 21,399 34,905 25,336 47,904 Total gold certificate reserves 21,210,358 731,190 6,899,562 1242,438 1470,256 906,614 905,512 4260,687 623,791 383,860 778,405 574,883 2433,160 Other cash 373,253 39,213 70,388 25,829 30,803 27,416 26,240 52,965 16,996 8,466 14,305 16,425 44,207 Discounts and advances 272,316 3,170 57,935 5,220 38,590 6,250 17,062 98,169 12,150 21,322 5,748 — «* — 6,700 26 Industrial loans 3,246 — — 2,156 1 129 7 — — — — * mm 186 • mm mm 741 U. S. Govt, securities; Bills 1,164,864 4,582 342,367 73,294 108,808 77,454 62,854 173,746 59,718 36,980 54,847 55,742 114,472 Notes 14,633,251 1038,653 3,272,185 920,724 1366,892 973,009 789,596 2182,623 797,790 464,547 688,992 700,230 1438,010 Bonds 4,746,625 336,911 1,061,407 298,658 443,382 315,617 256,123 707,982 258,782 150,687 223,490 227,136 466,450 Total U.S. Government 1292,676 1919,082 1366,080 1116,290 983,108 2018,932 securities 20,544,740 1380,146 4,675,959 1108,573 3064,351 652,214 967,329 Total loans and securities 20,820,302 1383,316 4,733,920 1300,052 1957,673 1372,459 1125,642 3162,520 1128,440 673,722 973,077 983,108 2026,373 Due from foreign banks 24 2 V 7 2 2 1 1 3 l 1 1 1 2 F.R.notes of other banks 171,692 5,860 20,330 6,223 9,001 44,576 16,662 18,765 8,118 6,354 7,366 8,248 20,189 Uncollected cash items 3,606,409 318,474 626,305 210,609 338,228 279,775 268,733 574,844 178,333 102,934 201,123 186,512 320,539 Bank premises 40,265 1,073 7,657 2,915 4,790 2,916 1,809 5,169 3,526 1,114 2,623 677 5,996 Other assets 108,520 7,718 24,227 6,599 10,438 7,151 5,749 16,089 3,421 5,305 5,223 10,849 46,330,823 12,382,396 2794,667 3821,191 1964,956 1179,872 1982,205 TOTAL ASSETS 2486,846 2640,908 2350,348 8091,042 1775,077 4861,315 1/ After deducting $17,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 24, 1951 H.4.l(c) (in thousands of dollars) Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SariFran, Total Boston New York Phila• Cleve. 619,021 2264,866 L I A B I L I T I ES 5,181,348 1628,709 2072,811 1563,880 1237,624 4471,387 1070,993 602,151 903,064 Federal Reserve notes 23,008,538 1392,684 Deposits: 5,786,858 860,994 1333,438 757,462 796,143 2951,887 670,631 446,023 847,450 921,953 2143,744 Member bank-reserve accts. 18,259,903 743,320 580 2095 500 589 225 508 568 1,243 U.S.Treasurer-general acct 256,421 554 1/2 2 6 4 4 8 , , 4 6 4 9 5 9 6 28 6 3 ,7 8 5 7 7 7 7 8 ,622 42,270 3 ; 5,507 116,665 31,280 21,135 31,280 31,280 78,635 Foreign 850,321 52,415 175.863 1,686 6,914 2!445 540 2,163 7,411 2,520 470 517 38,792 Other 244.664 5,343 802,757 834,285 3071,215 709,911 469,903 879,708 954,318 2262,414 Total deposits 19,611,309 801,632 6,475,865 929,750 1419,551 227,241 238,792 425,250 148,761 83,5^5 164,367 167,343 251,675 463,015 167,123 246,136 Deferred avail, cash items 2,819,222 235,974 Other liabilities and 1,159 accrued dividends 2,535 Ca T p O i T t A a L l L p I a A i B d I i L n I TIES 45,4 2 4 2 7 6 , , 2 7 6 0 4 0 1 2 2 4 , 3 2 0 3 , 6 8 32 12,12 73 2 , ,7 6 6 4 3 2 2 1 7 5 2 , 5 8 , 3 8 5 93 2 3 1 7 , 3 6 9 8 , 2 4 55 259 9 4 , , 9 20 9 4 2 2 9 3 , 1 2 1 1 , 2 029 7 2 9 9 6 , 9 1 , 0 0 3 11 1 7 9 , 2 4 9 4 , 3 9 72 115 1 5 5 3 , , , 1 8 1 7 8 6 1 1 8 8 1 1 , 9 9 4 4 , 7 3 0 , 3 4 4 7 1 7 174 1 9 1 6 , , , 8 8 0 6 5 4 0 2 6 2 4 4 4 4 7 , , 7 0 5 9 9 1 , 1 9 7 61 25,167 22,369 75,345 20,295 510,022 32,246 153,290 39,710 48,014 Surplus (Section 7) 3,349 762 1,429 521 1,073 1,137 1,307 2,140 7,319 4,489 1,006 Surplus (Section 13b) 27,543 3,011 8,lQo 6,976 16,154 6,725 4,579 6,171 6,012 10,8Q4 119,294 8,521 25.382 8,740 11,034 Other capital accounts TOTAL LIABILITIES AND 46,330,823 2486,846 12,382,396 2794,667 3821,191 264o,908 2350,348 8091,042 1964,956 1179,872 1982,205 1775,077 4861,315 CAPITAL ACCOUNTS Contingent liability on acceptances purchased 2/7,809 2,010 2,366 1,272 1,069 3,512 942 636 942 942 2,366 for foreign correspondents 25,444 1,578 226 500 500 142 ~ — 573 473 54 Industrial loan commitments 2,468 FEDERAL RESERVE AGENTS' ACCOUNTS 24,11,5,619 1488,825 5,420,003 1692,588 2175,680 1638,991 1333,103 4611,706 1119,7"* 617,082 938,523 668,606 2440,768 F.R. notes outstanding Collateral for F.R. notes: 13,244,000 440,000 4,570,000 750,000 765,000 600,000 625,000 2750,000 350,coo 200,000 280,000 214,000 1700,000 Gold certificates -E: aas Eligible paper U.S. Govt, securities Total collateral 1/ After deducting $585,862,000 participations of other Federal Reserve Banks. 2/ After deducting $17,635,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis