H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) March 15, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 14, Member bank reserves increased $494 million. The principal changes supplying reserves were an increase of $426 million in Reserve Bank credit, and decreases of $75 million in Treasury deposits with Federal Reserve Banks, $52 million in Money in circulation, and $25 million in Treasury cash holdings. The principal offsetting changes were a decrease of $51 million in Go^d stock, and an increase of $36 million in Other deposits with Federal Reserve Banks, The increase of $426 million in Reserve Bank credit resulted from increases of $253 million in Float and $247 million in U. S. Government securities, and a decrease of $75 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected an increase of $267 million in bonds, and decreases of $13 million in bills and $7 million in notes. Change since Member Bank Reserves March l4, March 7, March 15, and Related Items 1951 .— (In millions of dollars) Reserve Bank credit: 22,426 +247 +4,635 'J. S. Government securities + 62 136 - 75 Loans, discounts and advances + 690 1,089 +253 Float 23,652 +426 +5,388 Total 21,900 - 51 -2,420 Gold stock + 38 4,639 Treasury currency outstanding 27,167 - 52 + l44 Money in circulation 1,283 - 25 - 24 Treasury cash holdings 420 - 75 + 411 Treasury deposits with F. R• Banks 856 + 1 - 24 Foreign deposits with F. R. Banks 246 + 36 - 189 Other deposits with F, R. Banks 721 - 3 - 38 Other F. R. accounts (net) 19,498 +494 +2,727 Member bank reserves 18,488 +115 +3,083 Required reserves (estimated) 1,010 +379 - 356 Excess reserves (estimated) +198 - 193 Daily average excess reserves (estimated) 773 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.U.l(a) dp THE TWELVE FEDERAL RESERVE BANKS COMBINEb (In thbusands di* dollars) Change since March 14, March 7, March 15, 1951 1951 1950 A S S E TS Gold certificates 20,080,1*03 - 34,999 - 2,485,02? Redemption fund for F» R. notes 59U,666 126 + 58,240 - 2,426,78? Total gold certificate reserves 20,675,069 Other cash 310,363 148 46,909 Discounts and advances 132,112 - 75,172 + 61,028 Industrial loans 3,828 + 84 + 1,329 U. S. Government securities i Bills 1,510,172 - 13,000 « 2,31+3,^52 Certificates - 5,9U3,05Q Notes 15,056,883 - 7,000 +13,677,683 Bonds 5,859,1+31 +267,656 - 755,869 Total U« S« Government securities 22,426,^86 +247,656 + 4,635,3i2 Total loans and securities 22,562,1+56 +172,568 + 4,697,669 Due from foreign "banks 24 9 F» R. notes of other banks 142,131 - 2,588 + 33,169 Uncollected cash items 3,962,012 +697,937 + 756,844 Bank premises 1+0,561 + 168 + 6,180 Other assets 166,805 + 8,154 + 59,637 TOTAL ASSETS 47,889,421 +841,262 + 3,173,612 L I A B I L I T I ES Federal Reserve notes 23,068,185 - 64,295 + 15!+,857 Deposits: + 2,726,368 Member bank--reserve accounts 19,497,535 +493,059 + 411,181 U. S, Treasurer—general account 420,405 - 74,207 Foreign 856,444 + 1,195 23,259 Other 245,863 + 35,683 - 189,832 Total deposits 21,020,21(7 +455,730 + 2,924,1+58 Deferred availability cash items 2,872,853 +41+4,685 + 66,662 Other liabilities and accrued dividends 11,441+ + 261 570 TOTAL LIABILITIES 1+6,972,729 +836,381 + 3,11+5,1+07 C A P I T AL A C C O U N TS Capital paid in 228,059 62 + 13,188 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,51+3 Other capital accounts 151,068 + 4,819 - 6,83$ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,889,421 +841,262 + 3,173,612 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9% Contingent liability on acceptances purchased for foreign correspondents 31*1+64 + 880 + 24,065 Industrial loan commitments 2,901 + 99 + 1,812 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH l4, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government \ advances loans securities - Within 15 days 122,752 37 82,844 16 to 90 days 9,369 289 1,427,328 91 days to 1 year 21 2,295 12,218,985 Over 1 year to 5 years 1,207 4,1+28,723 Over 5 years to 10 years 1,023,597 Over 10 years 3,245,009 22,426,486 Total 132,142 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 14, 1951 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St,Louis Mpls. Kane.Cy. Dallas SanFran. Gold certificates 20,080,403 642,303 6,920,612 1146,150 1362,609 771,239 814,628 4034,176 497,892 331,705 723,765 473,548 2361,776 Rf !6r ! ^ t e f^ f°r 594,666 55,900 46,743 48,622 70,461 59,203 43,594 98,855 42,303 21,789 34,709 25,149 47,338 ^reserves ^^ificate ^967,355 1194,772 1433,070 830,442 858,222 4133,031 540,195 353,494 758,474 498,697 2409,114 Other cash 340,363 35,239 61,451 18,148 32,431 22,940 26,701 56,608 14,078 6,215 12,187 13,476 4o,889 Discounts and advances 132,142 . 6,000 62,755 9,440 4,776 4,850 280 13,360 14,280 580 15,821 -- Industrial loans 3,828 — 26 2,714 — 124 30 176 75» Bills * 1,510,172 107,190 337,694 95,020 141,066 100,416 81,487 225,250 82,333 47,942 71,104 72,265 148,405 Notes. 15,056,883 1068,723 3,366,915 947,379 l4o6,464 1001,177 812,454 2245,809 820,886 477,996 708,938 720,502 1479,640 Bonds 5.859.431 415.897 jj.310.245 368.675 547,328 389,611 316,170 873.963 319.451 186,013 275,887 280,385 575,806 T0^urftiesG°VermePt 22,426,486 1591,810 5,014,854 1411,074 2094,858 1491,204 1210,111 3345,022 1222,670 711,951 1055,929 1073,152 2203,851 securities 22,562,456 1597,810 5,077,635 1423,228 2099,634 1496,178 1210,421 3358,382 1236,950 712,707 1071,750 1073,152 2204,609 Due from foreign banks 24 2 l/ 7 2 2 1 13 1 1 \ r . F.R.notes of other banks 142,131 5,334 17,851 6,303 6,126 31,646 21,074 16,104 7,709 3,725 7,732 6,204 12,323 Uncollected cash items 3,962,012 287,796 733,316 250,206 395,872 318,995 288,932 702,676 178,870 101,355 206,654 168,875 328,465 Bank premises 40)561 l|o64 7^20 2,909 4,768 2,944 1,957 5,352 3,483 1,109 2,591 671 6,093 Other assets 166.805 12.051 17.054 10.320 15.681 11.308 8.916 25.198 8,911 5,126 8,113 7,904 16,223 •TOTAL ASSETS 47,889,421 2637,499 12,902,289 2905,888 3987,584 2714,454 2416,224 8297,35^ 1990,197 1183,732 2067,502 1768,980 5017,718 1/ After deducting $17,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

bTATEMENT OP CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH l4, 1951 H.U.l(c) (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran, L I A B I L I T I ES 1560,414 1247,538 4466,105 1070,046 604,889 906,324 616,946 2294,389 Federal Reserve notes 23,068,185 lW4,700 5,192,279 1634,562 2069,993 D M U ep . e S m o . b s T e i r t r s e b j a a s n u k r - e r r e - s g e e r n v e e r a a l c a c c t c s t . , 1 4 9 2 , 0 4 , 9 4 7 05 ,535 8 2 4 3 5 ,4 ,4 73 2 3 6,43 7 8 4 , , 5 3 7 5 2 0 9 3 1 1 0 ,1 ,8 58 93 4 1 0 45 ,1 3 6 , 6 154 3 7 2 7 , 5 3 , 0 9 9 ^ 82 3 4 1 , , 1 6 0 1 1 6 5 3 8 04 ,0 3 9 , 2 772 6 2 9 1 4 , , 4 7 1 7 4 4 43 2 2 3 1 2 , , , 3 3 2 6 2 5 4 1 3 8 3 3 9 0 1 , 8 , 8 6 , 0 8 1 8 9 6 4 91 3 1 1 7 9 , , , 0 6 2 3 1 5 3 6 6 7 2 3 2 9 5 6 , , 4 7 1 8 3 , 1 5 4 24 F O o th r e e r i gn 8 2 5 4 6 5 , , 4 8 4 6 4 3 5 5 2 ,6 ,9 01 7 9 ~ 1 / 1 2 8 6 0 4 ,1 ,2 3 6 5 3 6 1 7 ,8 ,5 85 06 4 7 , 9 2 ,4 81 69 4 3 2 ,4 ,7 62 2 5 35,8 6 8 8 9 3 H 2, 7 9 , 0 9 8 2l 3 5 1 ,6 ,6 8 1 4 6 1,401 4,906 1,680 33,237 854,444 892,289 3222,693 753,488 478,339 966,224 969,585 2409,877 Total deposits 21,020,247 927,476 6,957,320 1011,442 1577,070 250,086 234,787 479,969 129,507 75,060 158,140 146,312 227,497 Deferred avail.cash items 2,872,853 246,215 482,226 188,432 254,622 Other liabilities and 11.444 1.Q84 3.204 560 1,041 582 454 1,530 481 380 379 437 1,312 accrued dividends 1733,280 4933,075 TOTAL LIABILITIES 46,972,729 2579,475 12,635,029 2834,996 3902,726 2665,526 2375,068 8170,297 1953,522 1158,668 2031,067 10,023 24,149 Capital paid in 228,059 12,284 73,773 15,984 21,821 10,118 9,327 29,279 7,518 5,210 8,573 16,852 44,519 39,710 48,oi4 25,167 22,369 75,345 20,295 13,168 19,047 Surplus (Section 7) 510,022 32,246 153,290 l ,307 2,140 4,489 1,006 3,349 762 1,429 521 1,073 1,137 Surplus (Section ijb) 27,543 3,oii 7,319 7,518 13,835 10.709 14,017 10,294 8.698 21,oo4 8,341 5.613 7,678 Other capital accounts 151.068 10,483 32,878 TOTAL LIABILITIES AND It?,889,421 2637,499 12,902,289 2905,888 3987,581. 27H.A5U 21,16.221, 8297,354 1990,197 1183,732 2067,502 1768,980 5017,718 CAPITAL ACCOUNTS Contingent liability on a fo c r c f e o p r t e a i n g c n es p co u r r r c e h s a p s o ed n dents 31,464 1,951 2/9,660 2,486 2,926 1,573 1,321 4,342 1,164 787 1,164 1,164 2,926 Industrial loan commitments 2,901 1,543 473 54 224 490 117 FEDERAL RESERVE AGENTS' ACCOUNTS 23,954,948 1477,949 5,385,122 1696,077 2155,396 1630,305 1338,530 4549,078 1109,479 614,657 935,339 659,4o4 2403,612 F.R. notes outstanding Collateral for F.R. notes; 12,684,000 390,000 4,470,000 750,000 765,000 500,000 550,000 2710,000 300,000 190,000 280,000 179,000 1600,000 Gold certificates 112 916 6 000 62 #oii5 9 fUb® -- bi75® — lij. 280 580 15,821 Eligible paper r 12,040^000 1100^000 1,000,000 1000,000 1425,000 1165,000 800,000 1900,000 900,000 450,000 700*000 500,000 1100'00° U.S. Govt, securities 24,836,916 1496,000 5,532,045 1759,440 2190,000 1659,750 1350,000 4610,000 1214,200 640,580 995,821 679,000 2700,000 Total collateral l/ After deducting $592,168,000 participations of other Federal Reserve Banks. 2/ After deducting $21,804,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis