H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) March 8, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 7> Member bank reserves decreased $62 million. The principal changes reducing reserves were a decrease of $135 million in Gold stock, and increases of $31 million in Money in Circulation, $30 million in Treasury deposits with Federal Reserve Banks, $l6 million in Foreign deposits with Federal Reserve Banks, and $15 million in Treasury cash holdings. The principal offsetting changes were a decrease of $123 million in Other deposits with Federal Reserve Banks, and an increase of $38 million in Reserve Bank credit. The increase of $38 million in Reserve Bank credit resulted from an increase of $298 million in U. S. Government securities, and decreases of $190 million in Loans, discounts and advances and $69 million in Float. Holdings of U. S. Government securities reflected increases of $199 million in "Bonds and $103 million in notes, and a decrease of $4 million in bills. Change since Member Bank Reserves March Feb. 28, March 0, and Related Items 1951 1951 3-95Q (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,179 +298 +4,333 Loans, discounts and advances 211 -190 + 121 Float 836 - 69 + 4o8 Total 23,226 + 38 +4,863 Gold stock 21,951 -135 -2,394 Treasury currency outstanding 4,639 - 1 + 38 Money in circulation 27,219 + 31 + 114 Treasury cash holdings 1,308 + 15 l4 Treasury deposits with F. R. Banks 495 + 30 + 62 Foreign deposits with F. R, Banks 855 + 16 - 43 Other deposits with F. R. Banks 210 -123 - 346 Other F. R. accounts (net) 724 - 5 - 15 Member bank reserves 19,004 - 62 +2,746 Required reserves (estimated) 18,373 - 32 +3,112 Excess reserves (estimated) 631 - 30 - 366 Daily average excess reserves (estimated) 575 - 244 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Mar. 7, Feb. 26, Mar. 6, 1951 1951 1950 : A S S E TS Gold certificates 20,115,402 - 142,001 - 2,467,028 " 25 + 56,871 Redemption fund for F« R. notes Total gold certificate reserves 20,710,19% - 142,026 - 2,410,157 340,215 - 18,823 + 53,347 Other cash Discounts and advances 207,314 - 190,243 + 120,027 Industrial loans 3,7^4 + 138 + 1,277 U. S, Government securities: Bills 1,523,172 - 3,434 - 2,421,552 - 5,835,050 Certificates Notes 15,063,883 + 102,900 +13,801,383 iSB + 198,400 - 1.211,825 Bonds Total U, S. Government securities V 297:866 + t.332,95b Total loans and securities 22,389,888 + 107,761 + 4,454,260 Due from foreign banks 24 9 F. R. notes of other banks 144,719 + 903 + 36,746 Uncollected c«sSi its#*- 3,264,075 - 278,334 + 768,341 Bank premises 40,393 13 + 6,139 Otj^r assets 158,651 + 10,382 + 36*408 TOTAL ASSETS 47,049,159 - 320,150 + 2,945,075 L I A B I L I T I ES Federal Reserve notes 23,132,480 + 22,629 + 137,865 Deposits: Member bank—reserve accounts 19,004,476 - 61,689 + 2,746,731 U. S. Treasurer--general account 494,612 + 29,471 + 61,620 Foreign 855,249 + 16,369 42,488 Other 210,180 - 123,146 - 346,411 Total deposits 20,564,517 - 138,995 + 2,419,452 Deferred availability cash items 2,428,168 - 208,828 + 359,921 Other liabilities and accrued dividends 11,183 + 198 - 234 TOTAL LIABILITIES 46,136,340 - 324,996 + 2,917,004 C A P I T AL A C C O U N TS Capital paid in 227,997 81 + 13,296 Surplus (Section 7) 510,022 + 21,849 Surplus (Section ljb) 27,543 Other capital accounts 146,249 4,765 7,074 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,048,159 320,150 + 2,945,075 Ratio of gold certificate reserves to deposit .2 8.8$ and F, R. note liabilities combined 47.4# Contingent liability on acceptances purchased 30,584 932 4 22,861 for foreign correspondents Industrial loan commitments 2,802 135 4- 1,703 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 7, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities IlBr,.,. f| 4 Over 5 years to 10 years — " nik 9=;n - r i f f- 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 MARCH 7, 1951 (In thousands of dollars) A SS E T S Mpls. Kans.Cy. Dallas SanFran. Atlanta Chicago St.Louis New York Phila. Cleve. Rich. Total Boston 371,521 722,845 512,675 2294,692 836,318 4087,415 587,729 6,578,333 1152,590 1393,511 822,533 20,115,402 755,240 Gold certificates 21,811 34.749 25,185 47,42; Redemption fund for hi 48.831 70.635 60,664 43,720 Q9 r 032 42,349 53,028 F. R. notes m. Total gold certificate 6,625,696 1201,421 1464,146 883,197 880,038 4186,447 630,078 393,332 757,594 537,860 2342,117 20,710,194 808,268 reserves D O i th s e c r o u c n a t s s h and advances 2 3 0 4 7 0, , 2 3 1 1 5 4 3 6 6 , , 0 4 0 3 0 9 6 8 0 0 , , 4 2 7 4 2 2 0 6 2 2 2 0 8 , , , 6 8 5 4 5 1 5 8 0 2 2 9 3 , , 6 0 9 2 5 6 2 9 1, , 5 6 1 4 2 2 4 5 7 3 1 2 0 , 6 9 , 5 9 8 46 5 1 6 7 , , 4 2 6 6 5 0 17, 7 1 0 3 0 , 353 6 8 , ,0 7 1 6 9 7 7 0 8 1 6 1, , 7 4 7 2 6 8 12 3 , ,0 4 0 1 0 1 43 5 , , 4 5 7 6 0 3 6 0 8 Industrial loans 3,#4 U. S. Govt, securities 101,280 82,189 240,808 11,690 48,355 71,717 72,886 149,682 Bills 1,523,172 14,097 492,350 95,838 142,280 1001,643 812,832 2246,853 821,268 478,218 709,268 720,837 1480,328 Notes 15,063,883 1069,219 3,368,480 947,820 1407,117 371.814 301.726 834,041 304,858 177,516 263,283 267.578 549,504 1,250,394 351,834 522,328 Bonds 5.591,775 396,899 Total U.S.Government 5,1X1,224 1395,492 2071,725 1474,737 1196,747 3321,702 1137,816 704,089 1044,268 1061,301 2179,514 22,178,830 1480,215 securities Total loans and 5,191,490 1426,647 2094,751 1484,489 1198,735 3338,962 1155,516 712,334 1050,696 1064,301 2185,752 22,389,888 1486,215 securities 1 1 12 l! 11 :15 Hit II 3,829 7,318 6,671 13,441 Due from foreign banks 24 2 90,277 166,672 156,639 273,410 F.R.notes of other banks 144,719 ^^99 Uncollected cash items 3,264,075 258,666 1,109 2,591 671 6,069 Bank premises 40,393 l,p64 4,964 7,641 7,475 15,593 Other assets 158,651 — 12,546,682 2880,232 3923,151 2687,607 2368,399 8191/467 1961,645 1212,636 2004,289 1766,029 4879,850 47,048,159 2606,172 TOTAL ASSETS 1/ After deducting *17,000 participations of otler Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

w ) STATEMENT OF CONDITION OF THE h&ERAL RESERVE BANKS OK MARCH 7, 1951 c (in thousands of dollars) T T A g T L I T I ES Total Boston New York Phila. Cleve, Rich, Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran, Federal Reserve notes 23,132,480 l4o6,o87 5,208,055 1636,305 2073,149 1568,136 1252,166 4475,853 1073,924 606,423 912,484 621,186 2298,712 D2mhei3bank-reserve accts. 19,004,476 838,388 6,194,850 888,007 1400,202 768,6l4 820,584 3015,207 676,537 452,369 862,728 935,832 2151,158 U.S.Treasurer-general acct, 494,612 39,377 71,526 60,121 53,947 38,441 41,430 46,445 24,838 39,998 29,197 28,069 21,223 vorltan 855,249 52,638 1/ 266,880 67,071 78,957 42,450 35,658 117,162 31,413 21,225 31>13 31,413 78,969 Other 210,180 3,958 143,352 1,025 5,604 3,671 491 4,349 6,560 1,469 2,247 874 36,580 Total deposits 20,564,517 934,361 6,676,608 1016,224 1538,710 853,176 898,163 3183,163 739,348 515,061 925,585 996,188 2287,930 Deferred avail, cash items 2,428,168 207,249 . 392,363 156,534 225,626 217,156 176,733 404,544 111,686 65,905 129,723 132,75 207,874 °a^uedadiiidendsand 11,183 701 3,517 594 1,281 550 445 1,593 273 34l 368 4l8 1,102 TOTAL LIABILITIES 46,136,3^8 2548,398 12,280,543 2809,657 3838,766 2639,018 2327,507 .8065,153 1925,231 1187,730 1968,160 1750,567 4795,618 capital paid in 227,997 12,284 73,770 15,981 21,810 10,105 9,320 29,277 7,517 5,208 8,566 10,020 24,139 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) 27,5^3 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts 146,249 10,233 31,760 10,395 13,555 9,968 8,44l 20,263 8,081 5,457 7,379 7,283 13,434 TOTAL LIABILITIES AND „ , ^ , , , . - ^ n n CAPITAL ACCOUNTS 47,048,159 2606,172 12,546,682 2880,232 3923,151 2687,607 2368,399 8191,467 1961,645 1212,636 2004,289 1786,029 4879,850 Contingent liability on acceptances purchased for foreign correspondents 30,584 1,896 2/9,387 2,4l6 2,84$ 1,529 1,284 4,221 1,132 765 1,132 1,132 2,845 Industrial loan commitments 2,802 — — 1,426 473 54 — 222 — — 490 -- 137 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 23,979,665 1481,582 5,386,040 1688,757 2157,7^2 1635,966 1334,069 4565,645 1116,292 615,302 937,871 658,891 2401,508 Collateral for F.R. notes: Gold certificates 12,769,000 440,000 4,470,000 750,000 765,000 500,000 550,000 2710,000 300,000 190,000 280,000 214,000 1600,000 Eligible paper 151,295 6,000 75,040 28,510 — 9,050 — — 17,700 8,067 6,428 — 500 U.S. Govt, securities 12,040,000 1100,000 1,000,000 1000,000 1425,000 1165,000 800,000 1900,000 900,000 450,000 7(^,00^500,000 1100,000 Total collateral 2h\ t-,960^295 1546^000 5,545,040 1778,510 2190,000 1674,050 1350,000 4610,000 1217,700 648,067 986,428 714,000 2700,500 l/ After deducting $$88,357,000 participations of other Federa lReserve Banks. 2/ After deducting $21,197*000 participations of other Federa lReserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis