H.4.1 Factors Affecting Reserve Balances of Depository Institutions

H.^,1 BOARD OP GOVERNORS OP THE FEDERAL RESERVE SYSTEM (For Immediate Release) February 6, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items T)uring the week ended February 7# Member bank reserves increased $91 million. The principal changes supplying reserves were an increase of $209 million in Reserve Bank credit, and decreases of $27 million in Other^ deposits with Federal Reserve Banks and $12 million in Treasury deposits with Federal Reserve B&nks. The principal offsetting changes were increases of $80 million in Money in circulation and $21 million in Foreign deposits with Federal Reserve Banks, and a decrease of $$1 million in Gold stock# The increase of $209 million in Reserve Bank credit resulted from increases of #208 million in Float and $157 million in holdings of U. S+ Government securities and a decrease of $15& million in Loans, discounts and $ advances. Holdings of U. S, Government securities reflected increases of #11^. million in bonds and #80 million in notes, and a decrease of $37 million in bills * The increase for the week of 3230 million in Required reserves of member banks reflected the higher reserve requirements which became effective during the week and which raised required reserves approximately $280 million# Changes since Member Bank Reserves eb. 7, Jan • 31# Feb. Iff, and. Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U« S# Government securities 2i # 6ia + 157 +3,985 Loans discounts and advances 6U6 156 + 1|21 t Float 973 + 208 + 709 Total 23,260 + 209 +5,111+ Gold stock 22,31a wm 51 -2,00b Treasury currency outstanding U»638 -- + ItO Money in circulation 27,125 + 80 + II4-O Treasury cash holdings 1,307 + 6 «•> 6 Treasury deposits with F* R* Banks 795 mm 12 + 1429 Foreign deposits with F# R* Banks 887 4 21 - 17 Other deposits with F* R. Banks 313 - 27 - 215 Other P. R* accounts (net) 736 - 1 + 9 Member bank reserves 19,075 + 91 +2,810 Required reserves (estimated) 18,301+ + 230 +2,8^8 Excess reserves (estimated) 771 139 38 Daily average excess reserves (estimated) 52U 4- 68 - 236 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STAT5WT Of COKHEECJON H.4.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. ff. Jan. 31, Feb. K, 1951 1951 1950 A S S E TS - 2,071,528 Gold certificates 20,512,903 - 51,999 Redemption fund for F. R. fates 597,305 + 1,933 + 57,275 Total gold certificate reserves 21,110,208 - 50,066 - 2,014,253 Other cash 359,385 - 25,333 + 26,345 Discounts and advances 642,905 -155,237 + 419,609 Industrial loans 3,579 + 134 + 1,457 U. S. Government securities: Bills 1,661,164 - 37,500 - 2,042,808 Certificates - 6,305,350 Notes 14,899,783 + 79,500 +14,222,283 +114,250 - 1,889,225 Bonds -5479475 Total U. S. Government securities 21,640,622 +156,250 + 3,984,900 Total loans and securities 22,2 87,106 + 1,147 + 4,405,966 Due from foreign banks 24 14 F. R. notes of other banks ,7 g J</J' A-80r945 + 14,953 + 64,184 Uncollected cash items 233,218 - 48,419 + 829,094 Bank premises 40,189 + 14 + 5,894 Other assets _ _1_26_,_2 6+8 7,418 + 14,815 TOTAL ASSETS 47,337^4^ -100,286 + 3,332,031 N.T/3 L I A B I L ITT I E S Federal Reserve notes 23, I03y52& + 77,203 + 174,169 Deposits: Member bank--reserve accounts 19, 075,277 + 91,153 + 2,809,936 U. S. Treasurer--general account 795,^35 - 11,907 + 429,365 Foreign 886,919 + 20,464 17,354 Other 313,378 - 26,639 214,518 Total deposits 21,0 71,009 + 73,071 + 3,007,429 Deferred availability cash items 2,2 60,607 -256,369 + 120,971 Other liabilities and accrued dividends 9,333 + 911 + 534 TOTAL LIABILITIES 44%-4T3\. -105,184 + 3,303,103 3 C A P I T AL A C C O U N TS Capital paid in 227,276 375 + 13,199 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 6,120 Other capital accounts 128,029 + 4,523 TOTAL: LIABILITIES AND CAPITAL ACCOUNTS w, 3 % #0 -100,286 + 3,332,031 4.7-V3 Ratio of gold certificate reserves to deposit 8.6# and F. R. note liabilities combined 47.8# • 3# Contingent liability on acceptances purchased for foreign correspondents 28,035 889 + 20,506 Industrial loan commitments 2,9^7 378 + 1,148 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 7, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial u, S. Government advances loans securities Within 15 days 625,464 44 434,452 16 to 90 days 17,368 267 1,237,712 91 days to 1 year 73 2,313 12,282,385 Over 1 year to 5 years 955 4,065,373 , Over 5 years to 10 years 986,700 . Over 10 years 2,634,000 : Total 642,905 3,579: 21,640,622 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) SIAT^imi OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 7, 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 20,512,903 747,059 6,627,941 1185,574 1397,499 808,463 838,405 4198,544 590,251 360,979 768,464 561,734 2427,990 Redemption fund for F. R. notes 597,305 53,538 49,208 49,699 71,228 57,713 114444,,115599 9999,,668844 4422,,556622 2211,,339966 3344,,889988 2255,,333311 4477,,888899 Total gold certificate reserves 21,110,208 800,597 6,677,149 1235,273 1468,727 866,176 882,564 4298,228 632,813 382,375 803,362 587,065 2475,879 Other cash 359,385 36,634 67,351 22,903 31,198 23.582 24,143 59,209 15,221 6,783 12,479 15,951 43,931 Discounts and advances 642,905 11,320 358,285 6,525 65,268 12,296 31,910 96,919 21,090 26,332 8,360 4,600 Industrial loans 3,579 26 2,456 — - 132 7 187 — 771 U, S. Govt, securities; ! Bills 1,661,164 21,088 515,247 103,325 153,394 109,192 88,610 258,556 42,3144 52,132 77,320 78,581 161,375 Notes 14,899,783 1056,791 3,340,325 936,802 1390,761 990,000 803,384 2220,736 811,722 472,659 701,024 712,458 1463,121 Bonds 5,079,675 360,550 1,135,881 319,613 474,493 337,763 274,094 757,659 276,939 161,260 239,171 243,072 499,180 Total U.S. Government securities 21,640,622 1438,429 4,991,453 1359,740 2018,648 1436,955 1166,088 3236,951 1131,005 686,051 1017,515 1034,111 2123,676 Total loans and securities 22,287,106 1449,749 5,349,764 1368,721 2083,916 lit49,383 1198,005 3333,870 1152,095 712,570 1025,875 1034,111 2129,047 Due from foreign banks 24 y 2 1/ 7 2 2 1 1 3 1 1 l 1 ^ 2 F.R.notes of other banks 180,945^ 10,582 2670I+6 6,138 8.999 48,336 12,950 16,337 6,657 4,777 8,735 9,096 &2+2P2 Uncollected cash items 3*233,218 253,918 560,919 232,069 285,586 270,495 206,073 599,024 149,174 90,673 170,196 126,324 288,767 Bank premises 40,189 1,069 7,638 2,915 4,781 2,918 1,811 5,144 3,504 1,112 2,607 674 6,016 Other assets 126,263 9,085 27,861 7,740 .12,329 8,526 6,720 18,758 6,723 3,956 6,183 5,953 12,434 TOTAL ASSETS 47,33T-£k$» 2561,636 12,716,735 2875,761 3395,538 2669,417 2332,267 8330,573 1966,188 1202,247 2029,438 1779,175 497&7368l/ 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 FEBRUARY 7, 1951 H.4.l(c) (In thousands of dollars) 1.0-70 £.9 3-1 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 SanFran.N Federal Reserve notes 23,3.03x52^ 1%00,490 5,196,372 1634,309 2072,633 1571,657 1253,542 4477,739 1075,759 604,241 909,682 623,430 2283r6TO Deposits: Member bank-reserve accts. 19,075,277 788,049 6,253,754 884,443 1371,754 760,465 817,748 3058,617 683,712 437,758 871,563 937,767 2209,627 U.S.Treasurer-general acct. 795,435 53,263 118,694 42,990 92,109 44,031 37,573 179,914 35,320 44,066 50,035 34,386 63,054 Foreign 886,919 54,517 1/277,551 69,465 81,775 43,965 36,931 121,343 32,534 21,983 32,534 32,534 81,787 Other 313,378 4,615 245.392 3,182 5,496 2,762 609 2,203 7,494 1.240 2,747 857 36,781 892,861 3362,077 759,060 505,047 956,899 1005,544 2391,249 Total deposits 21,071,009 900,444 6,895,391 1000,080 1551,134 851,223 Deferred avail.cash items 2,260,607 203,465 360,386 171,526 188,040 198,806 145,612 365,966 95,634 68,377 127,321 115,376 220,098 Other liabilities and accrued dividends , ^$ 9.333 690 2,811 511 1,104 445 377 1,318 280 303 328 336 V 830 /. k6,k^Kj^fS 2505,089 12,454,960 2806,426 3812,911 2622,131 2292,392 8207,100 1930,733 1177,968 1994,230 1744,686 4895T#7 TOTAL LIABILITIES 227,276 12,259 73,722 15,906 21,721 10,014 9,271 29,195 7,482 5,l8o 8,488 9,940 24,098 Capital paid in 22,369 75,345 20,295 13,168 19,047 16,852 44,519 510,022 32,246 153,290 39,710 48,014 25,167 Surplus (Section 7) 762 1,429 521 1,073 1,137 1,307 2,l40 27,543 3,011 7,319 4,489 1,006 3,349 Surplus (Section 13b) 128,029 9,031 27,444 9,230 11,886 8,756 7,473 17,504 7,157 4.858 6,536 6,390 11,764 Other capital accounts •EOTAL LIABILITIES AND 2561,636 12,716,735 2875,761 3895,538 2669,417 2332,267 8330,573 1966,188 1202,247 2029,438 1779,175 49787368- CAPITAL ACCOUNTS 47,33^7343 S.l 6E Contingent liability on acceptances purchased for foreign correspondents 28,035 1,738 2/ 8,607 2,215 2,607 1,402 1,178 3,869 1,037 701 1,037 1,037 2,607 Industrial loan commitments 2,947 1,589 473 54 224 495 112 FEDERAL RESERVE AGENTS' ACCOUNTS 23,987,623 1482,629 5,364,770 1689,407 2164,484 1638,743 1321,512 4585,695 1114,419 615,110 938,604 661,125 2411,125 F.R, notes outstanding Collateral for F.R. notes: 13,029,000 440,000 4,570,000 750,000 765,000 550,000 550,000 2710,000 300,000 200,000 280,000 214,000 1700,000 Gold certificates 443 608 11,320 355,635 6,525 -- 11,746 - - 21,090 26,332 8,360 - 2,600 Eligible paper 11,890,000 1100,000 1,000,000 1000,000 1425,000 1115,000 800,000 1900,000 900,000 450,000 700,000 500,000 1000,000 U. S. Govt, securities 25,362,608 1551,320 5,925,635 1756,525 2190,000 1676,746 1350,000 4610,000 1221,090 676,332 988,360 714,000 2702,600 Total collateral 1/ After deducting $609,354,000 participations of other Federal Reserve Banks. 2/ After deducting $19,428,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis