H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) February 1, 1951 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended January 31, Member bank reserves increased $724 million. The principal change adding to reserves was an increase of $1,443 million in Reserve Bank credit. The principal offsetting changes were a decrease of $51 million in Gold stock and increases of $551 million in Treasury deposits with Federal Reserve Banks, $95 million in Other deposits with Federal Reserve Banks, $17 million in Money in circulation, and $16 million in Foreign deposits with Federal Reserve Banks, The increase of $1,443 million in Reserve Bank credit resulted from increases of $939 million in holdings of U. S. Government securities and of $526 million in Loans, discounts and advances, and a decrease of $22 million in Reserve Bank float. Holdings of U. S. Government securities reflected increases of $534 million in bills, $218 million in bonds, and $187 million in notes. The increase for the week of $452 million in Required reserves of member "banks reflected the higher reserve requirements which became effective dnriiig the week end which raised Required reserves Approximately $600 million. Changes since Jan. 31, Jan. 24, Feb. 1, Member Bank Reserves and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: +3,629 U. S. Government securities 21,484 + 939 Loans, discounts and advances 802 + 526 + 344 Float * 765 22 + 458 Total 23,051 +1,443 +4,431 -2,003 Gold stock 22,392 - 51 Treasury currency outstanding 4,638 + 39 i Money in circulation l-S&vy 17 + 117 Treasury cash holdings 2 - 17 Treasury deposits with F. R. Banks 807 + + 170 Foreign deposits with F. R. Banks 866 + 5S - 51 Other deposits with F. R. Banks 340 + 95 - 221 6 + l6 Other F. R. accounts (net) 737 Member bank reserves 18,984 + 724 +2,452 Required reserves (estimated) 18,074 + 452 +2,540 910 + 272 - 88 Excess reserves (estimated) 456 - 268 - 163 Daily average excess reserves (estimated) * 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 IRE TWELVE fpDERAL RESERVE BANKS COMBINED (Ih thousands of dollars) Change since Jan. 31, Jan. 24, Feb. 1, 1951 1951 1950 A S S E TS Gold certificates 20,564,902 57,001 • 2,055,530 Redemption fund for F. R. notes 595,372 + 6,917 + 52,129 Total gold certificate reserves 21,160,274 - 50,084 - 2,003,401 Other cash 384,718 + 11,465 20,595 525,826 Discounts and advances 798,142 + + 342,430 Industrial loans 3,445 + 199 + 1,311 U, S, Government securities: Bills 1,698,664 + 533,800 _ 2,063,018 Certificates -- -- - 6,332,350 187,032 Notes 14,820,283 + +14,162,483 Bonds 4,965,425 + 218,800 - 2,137,875 Total U. S. Government securities 21,484,372 + 939,632 + 3,629,240 Total loans and securities 22,285,959 +1,465,657 + 3,972,981 Due from foreign banks 24 — mm - 14 F. R. notes of other banks 165,992 - 5,700 + 35,862 Uncollected cash items 3,281,637 - 324,772 + 733,139 Bank premises 40,175 - 90 + 6,046 Other assets 118,850 + 10,330 + 8,777 TOTAL ASSETS 47,437,629 +1,106,806 + 2,773,985 L I A B I L I T I ES Federal Reserve notes 23,026,321 + 17,783 + 115,139 Deposits: Member bank--reserve accounts 18,984,124 724,221 + 2,452,520 U. S. Treasurer--general account 807,342 550,921 + 170,526 Foreign 866,455 16,134 50,568 Other 340,017 95,353 - 221,233 Total deposits 20,997,938 +1,386,629 + 2,351,245 Deferred availability cash items 2,516,976 - 302,246 + 275,645 Other liabilities and accrued dividends 8,422 + 227 + 173 TOTAL LIABILITIES 46,549,657 +1,102,393 + 2,742,202 C A P I T AL A C C O U N TS Capital paid in 226,901 201 + 12,962 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 123,506 + 4,212 3,028 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,437,629 +1,106,806 + 2,773,905 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 48.1% 1.7# 7.6* Contingent liability on acceptances purchased 18,600 for foreign correspondents 27,146 + 1,702 + Industrial loan commitments 3,325 + 857 Hh 1,464 MATURITY DISTRIBUTION OF LOAMS AMD SECURITIES JANUARY 31, 1951 t (Callable Government securities classified according to nearest call date) Discounts and Industrial U, S. Government advances loans securities Within 15 days 788,842 40 -617,099 l6 to 90 days 9,227 291 1,08377565* 12,l6?728r ,91 days to 1 year 73 2,153 Sl.a-tv Over 1 year to 5 years 961 4,002,023 986,700 Over 5 years to 10 years Over 10 years 2,629,700 Total 798,142 3,445 21,484,372 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITIO NOP THE FEDERA LRESERVE BANKS ON JANUARY 31, 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 S&nFran. Gold certificates 20,564,902 760,878 6,557,553 1192,379 1389,766 824,044 852,328 4317,024 594,490 357,470 762,426 533,283 2423,261 Redemptionfund for 595,372 53,540 49,219 49.702 71,232 57,720 44,163 99,695 40,566 21,397 34,901 25,333 47,904 ^RESERVES cert^&&- ,I6O,274 8l4,4l8 6,606,772 1242,08 11460,998 881,764 896,491 44l6, 19 635,056 378,867 797,327 558,616 2471,165 21 7 Other cash 384,718 39,839 73,633 24,966 35,921 28,669 24,676 56,733 15,641 8,012 14,324 16,433 45,871 Discounts and advances 798,142 6,320 417,285 6,030 57,060 17,696 23,962 98,619 39,815 35,172 18,858 — 77,325 Industrial loans 26 2,3^5 1 ^33 7 ^92 - 7 U* :Bi:lls^:' sec uritaies' ! 69«8 66 419,457 544,502 102,916 152,787 108,760 88,259 257,586 63,000 45,376 77,014 78,270 160,737 T°^StiesVerDmePt 21,484,372 1423,117 4,976,60? 1347,204 2000,036 1423,70 61155,33 63207,232 1141,152 673,176 1008,133 1024,57 72104,096 ^"securities"" 22,285,959 1429,437 5,393,918 1355,579 2057,097 1441,535 1179,30 53305,851 1180,967 708,540 1026,991 1024,577 2182,162 2tkfl a 2^48;323 6^as 22?0 21 1,Wa 33s^ 3 66 as 2 ^:|tao 5s$ 9 33 a88^s a 290s:037 J: ^ TOTAL ASSETS 47,437,629 2548,587 12,759,61 22849,274 3909,62 62674,14 62327,85 38368,91 41995,402 1195,110 2030,066 1751,13 65027,903 il/ After deducting $17,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1 STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BANKS ON JANUARY 31, 1951 H.4.l(c) (in thousands of dollars) L I A B I L I T I ES Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy 6 D 2 a 2 l , l 2 a 64 s 2 S 2 a 6 n 7 F , r 2 a 7 n 1 . Federal Reserve notes 23,026,321 1393,162 5,182,866 1627,239 2064,638 1569,557 1248,486 4469,777 1073,665 601,556 905,840 Deposits: Member bank-reserve accts.1 8,984,124 780,795 6,188,601 871,809 1378,990 739,106 786,116 3056,218 687,303 430,319 871,663 909,099 2284,105 U.S.Treasurer-general acct, 807,342 51,550 122,658 49,058 69,261 68,674 51,297 172,411 38,295 47,698 49,761 42,538 44,l4l Foreign 866,455 53,308 1/ 270,601 67,924 79,961 42,990 36,111 118,652 31,813 21,495 31,813 31,813 79,974 727 37,600 Other 340,017 3,467 272,782 3,179 5,166 2,874 584 4,157 6,602 1,270 1,609 Total deposits 20,997,938 889,120 6,854,642 991,970 1533,378 853,644 874,108 3351,438 764,013 500,782 954,846 984,177 2445,820 Deferred avail. cash items 2,516,976 209,445 458,851 160,616 228,319 203,640 165,317 423,765 122,240 68,397 134,111 110,232 232,043 Other liabilities and accrued dividends 8,422 ro5 2,593 439 329 316 1,186 322 247 345 257 12,498,952 2780,264 3827,457 2627,170 2288,227 8246,166 1960,240 1170,982 1995,142 1716,930 4945,695 TOTAL LIABILITIES 46,549,657 2492,432 Capital paid in 226,901 12,241 73,643 15,849 "21,702 10,001 9,261 29,137 7,462 5,181 8,46l 9,866 24,097 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 44,519 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 2,140 Other capital accounts 123,506 8,657 26,408 8,962 11,447 8,459 7,234 16,837 6,884 4,706 6,279 6,181 11,452 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,437,629 2548,587 12,759,612 2849,274 3909,626 2674,146 2327,853 8368,914 1995,402 1195,110 2030,066 1751,136 5027,903 Contingent liability on acceptances purchased for foreign correspondents 27,146 1,683 2/ 8,335 2,144 2,525 1,357 l,l4o 3,746 1,004 679 1,004 l,oo4 2,525 500 142 Industrial loan commitments 3,325 1,430 473 54 226 500 FEDERAL RESERVE AGENTS' ACCOUNTS F.R, notes outstanding 24,027,470 1482,403 5,361,699 1694,368 2163,598 1637,997 1326,434 4591,980 1120,414 615,719 935,406 665,362 2432,090 Collateral for F.R. notes: 13,119,000 440,000 4,570,000 750,000 765,000 550,000 550,000 2750,000 350,000 200,000 280,000 214,000 1700,000 Gold certificates Eligible paper 607,751 6,320 415,935 6,030 — 16,596 — -- 39,815 35,172 18,858 69,025 11,890,000 1100,000 1,000,000 1000,000 1425,000 1115,000 800,000 1900,000 , 900.1.000 . 450,000 ._._7OQjQGQ .-50-1QjQ-00W.Q&-0 U.S. Govt, securities 25,616,751 1546,320 5,985,935 1756,030 2190,006 1681,596 1350,000 4650,000 1289,815 685,172 998,858 714,000 2769,025 Total collateral 1/ After deducting $595,841,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ After deducting $l8,811,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis