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 15, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 14, Member bank reserves decreased $123 million. The principal changes reducing reserves were a decrease of $81 million in Gold stock, and increases of $69 million in Treasury deposits with Federal Reserve Banks, $34 million in Money in circulation, and $29 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $70 million in Reserve Bank credit and a decrease of $15 million in Treasury cash holdings. The increase of $70 million in Reserve Bank credit resulted from increases of $252 million in Float and $167 million in holdings of U. S. Government securities, and a decrease of $348 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected increases of $122 million in in bonds, $39 million in bills, and $6 million in notes. Changes since Member Bank Reserves Feb. 14, Feb. 7, Feb. 15, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 21,808 +167 +4, 027 Loans, discounts and advances 298 -348 + 29 Float •• 1,225 +252 + 694 Total 23,330 + 70 +4 ,749 Gold stock 22,260 - 81 -2, 083 Treasury currency outstanding 4,637 - 1 + 39 Money in circulation 27,159 + 34 + 166 Treasury cash holdings 1,292 - 15 - 21 Treasury deposits with F. R. Banks 864 + 69 + 193 Foreign deposits with F. R. Banks 916 + 29 + 25 Other deposits with F. R. Banks 310 - 3 - 218 Other F. R. accounts (net) 734 "» 2 + 6 Member bank reserves 18,952 -123 +2 ,552 Required reserves (estimated) 18,226 - 78 +2 ,843 Excess reserves (estimated) 726 - 45 - 291 Dally average excosfl reserves (estimated) 603 + 79 - 123 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 BAMS COMBINED (in thousands of dollars) Change since Feb, l4, Feb. 7, Feb. 15, _JL25i 1951 1950 A S S E TS Gold certificates 20,430,903 - 82,000 - 2,153,527 Redemption fund for F. R. notes - 3,020 + 54,256 • Total gold certificate reserves 21,025,186 - 85,020 - 2,099,271 Other cash 367,001 + 7,616 + 38,188 Discounts and advances 29^,335 -348,570 + 27,789 Industrial loans 3,520 59 + 1,377 U. S, Government securities: Bills 1,699,664 4- 38,500 - 2,124,985 Certificates - 6,330,850 Notes 14,905,683 + 5,900 +14,200,083 Bonds +122,500 - 1,718,125 Total U. S. Government securities 21,807,522 +166,900 + 4,026,123 Total loans and securities 22,105,377 -181,729 + 4,055,289 Due from foreign banks 24 14 F. R. notes of other banks 150,807 - 27,538* + 40,209 Uncollected cash items 4,225,620 +992,402 + 1,029,970 Bank premises •40,336 + 147 + 6,047 Other assets 133, W + 7,201 + 17,287 ' TOTAL ASSETS 48,047,822 +713,079* + 3,087,705 L I A B I L I T I ES Federal Reserve notes 23,096,697 - 4,227* + 169,123 Deposits: Member bank—reserve accounts 18,951,706 -123,571 + 2,552,170 U. S. Treasurer--general account 864,079 + 68,644 + 1193,164 Foreign 916,241 + 29,322 + 25,861 Other 310,394 - 2,984 - 217,893 Total deposits 21,042,420 - 28,589 + 2,553,302 Deferred availability cash items 3,000,782 +740,175 + 335,812 Other liabilities and accrued dividends 10,447 + 1,114 + 772 TOTAL LIABILITIES 47,150,346 +708,473* + 3,059,009 C A P I T AL A C C O U N TS Capital paid in 227,514 238 + 13,291 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 132,397 + 4,368 6,444 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,047,822 +713,079* 3,087,705 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.6$ 8.2# Contingent liability on acceptances purchased % for foreign correspondents 28,734 + Industrial loan commitments 3,021 4- * February 7 figures revised MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 14, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S, Government advances loans securities Within 15 days 277,177 180 594,933 16 to 90 days 17,128 144 1,104,731 91 days to 1 year 30 2,223 12,306,785 Over 1 year to 5 years 973 4,154,473 Over 5 years to 10 years 986,700 Over 10 years 2,659,900 Total 294,335 3,520 21,807,522 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 14, 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 20,430,903 715,646 6,567,370 1192,277 1374,778 821,584 872,483 4151,740 589,211 385,454 757,417 555,478 2447,465 RF?eS'tmtefUna f°r 594,285 53,279 48.225 49,284 70,918 57.707 43,933 99,377 42,453 &W&8 3^810 25,263 47,688 T°reserves certific&— 21,025,188 768,925 6,615,595 124l,56l 1445,696 879,291 916,4l6 4251,117 631,664 406,802 792,227 580,741 2495,153 Other cash '567,001 38,269 69,049 22,941 35,147 23,214 22,716 59,572 15,48? 6,860 12,069 15,441 46,236 Discounts and advances 2#,335 22,170 118,610 5,755 29,537 16,050 15,760 22,975 26,925 18,497 6,256 — H,800 Industrial loans 3,520 — 26 2,434 — 124 37 — — l85 — "" 714 : 1 : 2 EE i:l i liS !:! I l £:1 I: S1:1 ill T°securitie8VerDment 21^807,522 1442,838 5,051,031 1371,500 2036,107 1449,383 1176,173 3264,828 1118,619 685,631 1026,315 1043,055 2142,042 'j -1 fr°Becurities&P" 22,105,377 1465,008 5,169,667 1379,689 2065,644 1465,557 1191,970 3287,803 1145,5** 704,313 1032,571 1043,055 2154,556 sgggKjjj @ ### # if 4 4 li 4 if ll TOTAL ASSETS 48,047,822 2593,221 12,692,075 2923,834 3976,095 2740,513 2415,760 8498,528 2001,425 1232,291 2050,819 1844,231 5079,030 1/ 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 FEDERAL RESERVE BANKS ON FEBRUARY 14, 1951 H.4.1(c) (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. 156 R 5 i , c 3 h 5 , 3 1 A 2 t 4 l 4 a , n 0 t 7 a 2 C 4 h 4 i 8 c 0 a ,2 g 1 o 2 1 S 0 t 7 . 2 L , o 5 u 6 i 4 s 60 M 3 p , l 2 s 9 . 1 Kaa 9 nn 0 ss 4 .. , CC 8 y 5 . 8 6 D 1 a 9 l , l 7 a 3 s 2 S 2 a 2 n 9 F 0 r , a 9 n 9 . 1 Federal Reserve notes 23,096,697 1403,989 5,195,858 1638,791 2076,986 De M U p e . o m S s b . i e T t r r s e a : b s a u n r k e - r r - e g s e e n r e v r e a a l cc a t c s ct . . 1 8, 8 9 6 5 4 1 , , 0 7 7 0 9 6 78 57 5 , ,7 6 0 5 8 6 6,02 9 2 8 , ,6 4 9 6 1 8 8 6 7 7 2 4 1 , , ,2 4 2 5 9 9 8 7 8 8 1 1 3 0 3 . 8 3 8 9 , 8 , 5 6 9 0 1 7 5 77 6 4 0 2 5 , , ,1 5 5 0 9 3 0 4 2 3 8 4 7 3 4 , , 1 8 5 , 8 7 6 4 6 8 8 3 1 1 0 4 2 7 9 4 9 , , , 3 4 1 7 5 4 6 7 2 6 3 3 8 3 9 7 , , , 3 3 0 7 5 0 4 9 8 45 5 2 5 9 2 , , , 6 5 5 8 9 5 0 7 0 8 5 3 7 6 3 , 3 , 7 , 3 4 7 97 3 4 4 95 4 3 1 6 3 , , , 5 5 3 0 7 7 9 1 4 8 8 2 3 4 2 , , 1 8 0 9 9 6 , 8 5 3 8 0 Foreign 916,241 55,92^ 1/291,143 3,499 733 2,636 6,216 1.388 2,239 692 35,704 Other 310,394 4,08l 248,272 1,723 3,211 Total deposits 21*042,420 903,369 6,660,574 1009,776 1580,519 2 88 4 1 5 , ,2 7 6 2 9 5 2 9 0 2 7 3 , , 1 9 6 5 2 3 53 7 3 , 3 0 5 6 5 5 , 611 7 1 6 2 5 6 , ,8 9 5 5 4 7 53 6 9 5 , , 2 0 1 0 5 2 9 1 6 4 6 3 , , 3 78 3 5 0 10 1 3 5 2 7 , , 1 2 4 1 6 3 2 2 8 4 0 2 , 3 8 , 5 2 4 4 5 Deferred avail, cash items 3,000,782 228,299 569,636 205,131 234,512 Ot a h c e cr r u e l d i ab d i i l v i i t d i e e nd s s a nd 10,447 734 3,165 518 937 560 450 1,468_ 353 J2l 375 419 1,114 1207,862 2015,348 1809,510 4996,204 TOTAL LIABILITIES 47,150,346 2536,391 12,429,233 2854,216 38 2 92 1 , ,7 9 8 5 7 4 1 2 0 6 , 9 0 2 2 , 8 907 2 9 3 ,2 7 8 5 1 ,637 2 8 9 3 , 7 2 4 2 , 2 356 7 1 , 9 5 6 0 5 6 , 728 5,182 8,508 9,960 24,107 S C u a r p p i l t u a s l ( p S a e i c d ti i o n n 7) 2 51 2 0 7 , ,5 0 1 2 4 2 1 3 2 2 ,2 ,2 6 4 9 6 1 7 5 3 3 , , 7 2 5 9 0 0 3 1 9 5 , , 7 9 1 1 0 4 48,014 25,167 22,369 75,345 20,295 13,168 19,047 1 1 6 , , 3 8 0 5 7 2 2 4 ,l 4 4 , o 5 19 Surplus (Section 13"d) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 6,602 12,060 Other capital accounts 132,397 9>304 28,483 9,505 12,334 9,062 7,711 18,176 7,375 5,00b 6,779 TOTAL LIABILITIES AMD 48,047,822 2593,221 12,692,075 2923,834 3976,095 27«K>, 13 2415,760 8498,528 2001,425 1232,291 2050,819 1844,231 5079,030 CAPITAL ACCOUNTS 5 Contingent liability on acceptances purchased 2,270 2,672 1,437 1,207 3,965 1,063 719 1,063 1,063 2,672 for foreign correspondents 28,734 1,782 2/ 8,821 495 164 Industrial loan commitments 3, 021 1,611 473 54 - 224 FEDERAL RESERVE SSBBiW- ##BETS 23,976,632 1479,900 5,380,380 1689,239 2162,346 1630,950 1324,706 4571,448 1117,361 614,426 937,567 660,999 2407,310 F.R. notes outstanding Collateral for F.R, notes: 750,000 765,000 550,000 550,000 2710,000 300,000 200,000 280,000 214,000 1700,000 Gold certificates 13,029,000 440,000 4,570,000 26,925 18,497 6,256 - 11,500 220,763 22,170 113,910 5,755 — 15,750 Eligible paper 900,000 45oj 000 700,000 500, 000J.000.000 11,890,000 1100,-000 , 1,000^000 1000.000 1425,000 1115,000 800,000 1900,000 U.S. Govt, securities 2190,oooTSSo,750 13-50,oooTSTo,000 1226,925 "558,497 986,256) 714,000 2711,500 Total collateral 1/ After deducting $625,086,000 participations of other FederalR eserve Banks. 2/ After deducting $19,913,000 participations of other FederalR eserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis