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 23, 1951 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended February 21, Member bank reserves decreased $18 million. The principal changes reducing reserves were decreases of $53 million in Gold stock and $4% million in Reserve Bank credit, and an increase of $25 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $68 million in Treasury deposits with Federal Reserve Banks, $28 million in Foreign deposits with Federal Reserve Banks, and $15 million in Treasury cash holdings. The decrease of $47 million in Reserve Bank credit resulted from a decrease of $98 million in Loans, discounts and advances, and increases of $46 million in U. S. Government securities and $4 million in Float. Holdings of U. S. Government securities reflected an increase of $117 million in bonds, and decreases of $4l million in bills and $30 million in notes. Changes since Member Bank Reserves Feb. 21, Feb . 14, Feb. 21 and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 21,854 4- 46 +4 ,229 Loans, discounts and advances 200 - 98 + 104 Float 1,229 4- 4 + 858 Total 23,283 - 47 +5 ,191 Gold stock 22,207 - 53 -2 ,138 Treasury currency outstanding 4,637 — + 39 Money in circulation 27,164 4- 5 4- 145 Treasury cash holdings 1,277 - 15 - 34 Treasury deposits with F. R. Banks 796 - 68 4- 4l6 Foreign deposits with F. R. Banks 888 - 28 4- 3 Other deposits with F. R. Banks 335 + 25 - 199 Other F. R. accounts (net) 733 - 1 4- 2 Member bank reserves 18,934 - 18 +2 ,758 Required reserves (estimated) 18,352 4-126 +2 ,924 Excess reserves (estimated) 582 -144 166 - Daily average excess reserves (estimated)" 787 +184 82 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 (in thousands of dollars) Change; since Feb. 21, Feb. 14 Feb,,21, f 1951 1951 1950 A S S E TS Gold certificates 20,380,402 - 50,501 w 2,202,0aS Redemption fund for F. R. notes 591,817 - 2,468 + 53,897 Total gold certificate reserves 20,972,219 - 52,969 2,148,129 - Other cash 370,291 + 3,290 + 53,589 Discounts and advances 196,212 - 98,123 + 101,975 Industrial loans 3,628 + 108 + 1,442 U. S. Government securities: Bills 1,658,664 - 41,000 - 2,094,260 Certificates 6,284,350 •» — - . Notes 14,875,383 - 30,300 +14,174,783 JBonds 5,319,875 +117,700 1,566,825 - Total U, S. Government securities 21,853,922 + 46,400 + 4,229,348 Total loans and securities 22,053,762 - 51,615 + 4,332,765 Due from foreign banks 24 — — - 9 * F. R. notes of other banks 147,666 - 3,l4l + 33,155 Uncollected cash items 3,827,017 -398,603 + 1,224,648 Bank premises 40,481 + 145 6,149 Other assets 141,063 + 7,594 + 21,961 TOTAL ASSETS 47,552,523 -495,299 + 3,524,129 L I A B I L I T I ES Federal Reserve notes 23,086,830 - 9,867 + 149,301 Deposits: * Member bank--reserve accounts 18,933,750 - 17,956 + 2,758,137 U. S, Treasurer--general account 795,952 - 68,127 + 415,765 Foreign 887,736 - 28,505 + 2,969 Other 335,175 + 24,781 199,110 - Total deposits 20,952,613 - 89,807 + 2,977,761 « Deferred availability cash items 2,598,266 -402,516 + 366,903 Other liabilities and accrued dividends 12,431 + 1,984 + 1,187 TOTAL LIABILITIES 46,650,140 -500,206 + 3,495,152 C A P I T AL A C C O U N TS Capital paid in ~ 227,792 + 278 4- 13,370 Surplus (Section 7) 510,022 — + 21,849 Surplus (Section 13b) 27,543 — 1- •» m Other capital account® 137,026 + 4,629 6,242 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,552,523 -495,299 + 3,524,129 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 47.6% 8.9# -- - * Contingent liability on acceptances purchased for foreign correspondents 28,510 224 + 20,384 Industrial loan commitments 2,943 78 + 1,209 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 21, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 189,022 58 419,108 16 to 90 days 7,166 269 1,239,556 *91 days to 1 year 24 2,173 12,249,985 Over 1 year to 5 years 1,128 4,184,173 Over 5 years to 10 years 986,700 Over 10 years 2,774,400 Total 196,212 3 ^ 2r 21,853,922 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OP CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1951 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpla. Kans.Cy. Dallas SanFran. Gold certificates 20,380,402 767,346 6,493,320 1171,508 1412,499 818,821 872,726 4136,147 620,632 375,623 762,691 557,324 2391,765 Redemption fund for F. R. notes 591,817 53,142 47,698 4499,,003399 7700,,776644 5566,,444488 43,821 99,186 42,391 21,827 34,783 25,218 47,500 Total gold certificate reserves 20,972,219 820,488 6,541,018 1220,547 1483,263 875,269 916,547 4235,333 663,023 397,450 797,474 582,542 2439,265 Other cash 370,291 36,775 65,090 23,287 33,230 24,702 27,444 59,884 17,911 7,290 12,480 14,485 47,713 Discounts and advances 196,212 4,750 67,375 5,755 13,087 10,500 9,310 20,275 25,950 23,172 9,338 2,700 4,000 Industrial loans . 3,628 26 2,525 - - - 125 30 --- 184 - - - - - - 738 U. S. Govt, securities; Bills 1,658,664 — — «• 561,935 104,363 154,936 110,290 89,500 261,017 8,460 47,699 78,096 79,371 162,997 Notes 14,875,383 1054,040 3,328,129 935,959 1389,509 989,109 802,661 2218,738 810,991 472,234 700,392 711,817 1461,804 Bonds 5,319,875 376,949 1,190,243 334,727 496,930 353,734 287,055 793,486 290,034 168,885 250,482 254,566 522,784 Total U.S.Government securities 21,853,922 1430,989 5,-080,30? 1375,049 2041,37 51453,133 1179,21 63273,241 1109,485 688,818 1028,970 1045,754 2147,585 Total loans and securities" 22,053,762 1435,739 5,147,708 1383,32 92054,462 1463,758 1188,55 63293,516 1135,43 5712,17% 1038,308 1048,454 2152,323 Due from foreign "banks 24 2 1/ 7 2 2 1 1 3 1 1 1 1 2 F.R.notes of other banks 147,666 4,062 18,068 5,578 7,062 40,145 16,492 13,349 8,076 4,469 6,305 6,742 17,318 Uncollected cash items 3,827,017 345,013 735,511 252,659 378,753 259,114 261,636 653,329 156,261 101,067 187,302 166,755 329,617 Bank premises 4o,48l 1,069 7,638 2,915 4,778 2,941 1,959 5,211 3,504 1,112 2,607 6?4 6,073 Other assets l4l.o63 10.156 31.334 8,677 13,520 9,609 7,545 20,801 7,524 4,446 6,846 6,740 13,865 TOTAL ASSETS 47,552,523 2653,304 12,546,374 2896,994 3975,070 2675,539 2420,180 8281,426 1991,735 1228,009 2051,323 1826,393 5006,176 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 CONDITIO NOF THE FEDERA LRESERVE BANKS ON FEBRUAR Y21, 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. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes £3,086,830 1408,32? 5,210,707 1643,291 2072,917 1558,356 1237,298 4485,916 1069,891 602,084 904,465 613,945 2279,633 Deposits: Member bank-reserve accts. 18,933,750 847,642 6,040,875 879,653 1388,531 773,676 824,754 2991,606 688,683 448,617 887,583 930,191 2231,939 U.S.Treasurer-general acct. 795,952 54,1§7 64,212 59,100 97,582 49,317 79,249 120,664 49,668 53,870 50,546 66,966 50,591 Foreign 887,736 54,560 1/277,884 69,520 81,840 44,000 36,960 121,440 32,560 22,000 32,560 32,560 81,852 Other 335,175 4,153 276,365 1,419 4,536 1,973 526 3,055 5,429 1,598 1,211 909 34,001 Total deposits 20,952,613 960,542 6,659,336 1009,692 1572,489 868,966 941,489 3236,765 776,340 526,085 971,900 1030,626 2398,383 Deferred avail, cash items 2,598,266 226,601 408,480 173,486 244,987 199,741 200,538 432,301 109,301 73,872 138,878 146,352 243,729 Other liabilities and accrued dividends 12,431 618 3.982 603 1,105 J2&. 458 1,587 283 1,375 374 512 1,019 TOTAL LIABILITIES 46,650,140 2596,088 12,282,505 2827,072 3891,498 2627,578 2379,783 8156,569 1955,815 1203,416 2015,617 1791,435 4922,764 Capital paid in 227,792 12,281 73,763 15,944 21,8O4 io,O84 9,303 29,243 7,515 5,203 8,553 9,982 24,117 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 137,026 2jM 29,497 9,779 12,748 9,361 7,963 18,840 7,589 5,149 6.969 6,817 12,636 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,552,523 2653,304 12,546,374 2896,994 3975,070 2675,539 2420,180 8281,426 1991,735 1228,009 2051,323 1826,393 5006,176 Contingent liability on acceptances purchased for foreign correspondents 28,510 1,768 2/ 8,751 2,252 2,652 1,425 1,197 3,935 1,055 713 1,055 1,055 2,652 Industrial loan commitments 2,9^3 1,557 473 54 224 495 i4o FEDERAL RESERVE AGENTS' ACCOUNTS ,F.R. notes outstanding 23,927,826 1478,164 5,367,830 1687,726 2156,427 1629,595 1320,826 4569,401 1109,330 613,014 934,192 656,164 2405,157 Collateral for F.R. notes: 190,000 280,000 214,000 1600,000 Gold certificates 12,769,000 440,000 4,470,000 750,000 776655,,000000 550000,,000000 555500,,000000 22771100,,000000 300,000 Eligible paper 144,340 4,750 65,175 5,755 — 10,200 — — 25,950 23,172 9,338 450,000 700,000 500,000 1100,000 U.S. Govt, securities 12,040^000 1100I000 1,000,000 1000,000 1425,000 1165,000 800,000 1900,000 900,000 663,172 989,330 714,000 2700,000 Total collateral 24,953,34o 1544,750 5,535,175 1755,755 2190,000 1675,200 1350,000 4610,000 1225,950 l/ After deducting $609,840,000 participations of other FederaRle serve Banks. 2/ After deducting $19,759,000 participations of other FederaRle serve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis