H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) March 22, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 21, Member bank reserves decreased $197 million. The principal changes reducing reserves were increases of $188 million in Treasury deposits with Federal Reserve Banks, $13 million in Other F. R. accounts (net), and $12 million in Treasury cash holdings, and decreases of $^5 million in Reserve Bank credit and $44 million in Gold stock. The principal offsetting changes were decreases of $46 million in Money in circulation, $44 million in Other deposits with Federal Reserve Banks, and $16 million in Foreign deposits with Federal Reserve Banks. The decrease of $45 million in Reserve Bank credit resulted from a decrease of $78 million in U. S. Government securities, and increases of $19 million in Loans, discounts and advances and $16 million in Float. Holdings of U. S. Government securities reflected decreases of $100 million in notes and $10 million in bills, and an increase of $32 million in bonds, Change since Member Bank Reserves March 21, March 14, March 22. and Related Items 1951 1951 1950 (in millions of dollars) Reserve Bank credit: U. S. Government securities 22,348 - 78 +4,775 Loans, discounts and advances 155 + 19 34 1,105 +16 + 831 Float Total 23,607 - 45 +5,571 21,856 - 44 -2,415 Gold stock 4,638 1 + 38 Treasury currency outstanding Money in circulation 27,121 - 46 + 149 Treasury cash holdings 1,295 + 12 - 13 Treasury deposits with F. R. Banks 608 +188 - 151 Foreign deposits with F. R. Banks 84o - 16 + 1 Other deposits with F. R. Banks 202 - 44 98 Other F. R. accounts (net) 734 +13 - 27 Member bank reserves 19,301 -197 +3,332 Required reserves (estimated) 18,719 +231 +3,395 Excess reserves (estimated) 582 -428 - 63 Daily average excess reserves (estimated) 870 +97 + 81 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.U.l(a) OP THE TWELVE FEDERAL RESERVE BANKS CCEBINED (In thousands of dollars) since M&roft 21, March l4» March 22, 1951 1951 1950 A S S E TS Gold certificates 20,020,905 - 59,500 — 2,494,527 601,8142 + 7,176 + 69,325 Redemption fund for F« R. notes Total gold certificate reserves 26,622,74b - 52.3^4 - 2,425,202 Other cash 333,570 - 6,793 + 46,286 Discounts and advances 150,794 + 18,652 - 35,667 Industrial loans 3,793 35 + 1,113 U. S• Government securities: Bills 1,109,798 - 10,374 2,317,077 Certificates — 5,848,550 111,956,883 -100,000 +13,577,683 Notes 5,891,231 + 31,800 - 637,469 Bonds Total U.S. Government securities 22,31+7,912 - 78,574 + 4,774,587 Total loans and securities 22,502,109 - 59,957 + 4,740,033 2 4 — 9 Due from foreign banks F. R. notes of other banks 138,553 - 3,578 + 26,562 Uncollected cash items 4,159,268 +197,256 + 1,406,587 Bank premises 40,644 + 83 + 6,168 Other assets wm 158 m ,32 0 - 8,485 + 47,677 + 66,20# + 2 O/4Df AvC TOTAL ASSETS f L I A B I L I T I ES 23,016,479 - 51,706 + 160,333 Federal Reserve notes Deposits: Member bank—reserve accounts 19,301,051 -196,434 + 3,332,491 U. S. Treasurer--general account 608,156 +187,751 - 150,583 Foreign 81+0,159 - 16,285 + 909 Other 201,859 - 44,004 - 97,873 Total deposits 20,951,225 - 69,022 + 3,084,94U Deferred availability cash items 3,054,663 +181,810 + 575,799 - 660 Other liabilities and accrued dividends 11,360 84 TOTAL LIABILITIES 1+7.033,727 + 60,998 + 5,820,41s C A P I I AL A C C O U N TS Capital paid in 228,212 153 + 13,278 510,022 + 21,849 Surplus (Section 7) Surplus (Section 13b) 27,543 Other capital accounts 156,119 + 5,051 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,955,623 + 66,202 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46,9# Contingent liability on acceptances purchased for foreign correspondents 31,719 255 24,402 Industrial loan commitments 2,877 24 + 1,701 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 21, 1951 (Callable Government securities classified according to nearest oall date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 140,969 84 98,444 16 to 90 days 9,807 202 1,401,354 91 days to 1 year 18 2,276 12,166,385 Over 1 year to 5 years 1,231 4,389,716 1,015,204 Over 5 years to 10 years 3.276,809 Over 10 years Digitized for FRTAoStEaRl 150,794 " 22,347,91^ http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 21, 1951 (In thousands of dollars) A S S E TS Mpls. Kans.Cy. Dallas SanFran. New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Total Boston 316,866 700,575 507,829 2278,060 6,786,067 1158,142 1449,657 801,348 812,844 4047,034 520,342 Gold certificates 20,020,903 642,139 Redemption fund for 22,276 34.678 25,121 47,262 51,309 48.446 70,337 60,099 43,510 98,732 44,268 .<F» R. notes 601,842 55,804 Total gold certificate 339,142 735,253 532,950 2325,322 6^7,943 6,837,376 1206,588 1519,994 861,447 856,354 4145,766 564,610 reserves 20,622,745 58,833 16,846 28,508 30,302 15,402 7,008 12,260 13,541 39,992 22,935 53,121 Other cash 333,570 34,822 55,245 12,230 8,475 4,980 11,350 18,750 14,987 1,060 1,500 5,975 11,585 Discounts and advances 150,79* 4,657 26 2,682 — 123 29 175 758 Industrial loans 3,793 : : ; 47,613 70,617 71,768 147,385 U. S. Govt, securities: ?-S l %t l l iisi *1 :l2IS i:S- 9 8 M ?'!? 87,585 474,821 704,230 715,717 1469,813 Bins Notes 14,956,883 1061,625 187,023 277.382 281,907 578,931 Bonds 5,891,231 418,153 Total U.S.Government 1567,363 5,016,153 1406,131 2087,518 1485,980 1205,871 3333,303 1218,386 709,457 1052,229 1069,392 2196,129 securities ~ 22,347,912 Total loans and 5,071,424 1421,043 2093,493 1494,578 1210,880 3344,888 1229,736 728,382 1067,216 1070,452 2198,387 securities 22,502,499 1572,020 1 1 12 l/ 7 2 2 1 1 3 1 Due from foreign banks 24 2 17 503 6,839 7,542 30,114 18,692 4,588 6,903 7,612 14,460 13,971 6,213 F.R.notes of other banks 138,553 4,116 8 1 : §o Z90 *M 6 1:$a 110,886 211,504 195,272 346,192 1,109 2,591 671 6,111 Uncollected cash items 4,159,268 323,048 Bank premises 40,644 1,064 4,840 7.636 8,548 1= 35*241 0-^45 15.006 10,556 8,293 23,395 8,413. Other assets 158,320 11,294 12,843,518 2935,065 4068,389 2751,530 2417,270 8279,423 2001,733 1195,956 2043,364 1829,047 4946,019 TOTAL ASSETS 47,955,623 2644,309 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 CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 21, 1951 H.4.1(c) (In thousands of dollars) Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. L I A B I L I T I ES 23,016,1+79 H+03,035 5,188,271 1632,678 2062,982 1557,698 1241,140 14462,684 1066,873 603,216 903,131 613,995 2280,776 Federal Reserve notes De M p e o m s b i e t r s b : a nk-reserve accts. 19,301,051 857,952 6,380,922 887,354 1458,539 775,649 821,465 2997,982 676,180 436,903 877,245 940,322 2190,538 U.S.Treasurer-general acct, 608,156 31,531 104,611 49,516 98,678 43,266 41,329 57,876 41,959 39,993 37,290 32,845 29,262 81+0,159 51,900 1/260,035 66,131 77,850 41,855 35,158 115,520 30,973 20,928 30,973 30,973 77,863 Foreign 201,859 5,502 135,465 1,808 5,882 2,634 598 3,057 6*505 1,050 1.667 1,286 36,405 Other Total deposits 20,951,225 946,885 6,881,033 1004,809 1640,949 863,404 898,550 3174,435 755,617 498,874 947,175 1005,426 2334,068 Deferred avail* cash items 3,054,663 234,985 502,444 225,774 277,970 280,651 235,715 512,911 141,835 68,222 156,084 175,179 244,893 Other liabilities and accrued dividends 11,360 963 3,l)4o 604 428 1,600 406 452 356 503 TOTAL LIABILITIES 47,033,727 2585,868 12,575,188 2863,865 3983,057 2702,266 2375,833 8151,630 1964,731 1170,764 2006,746 1793,103 4860,676 Capital paid in 228,212 12,293 73,779 15,985 21,839 10,124 9,334 29,280 7,579 5,210 8,605 10,033 24,151 Surplus (Section 7) 510,022 32,246 153,290 39,710 48,oi4 25,167 22,369 75,345 20,295 13,168 19,047 16,852 1+4,519 Surplus (Section l$b) 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 156,119 10,891 33,942 11,016 14,473 10,624 8,972 21,739 8,607 5,741 7,829 7,752 14,533 TOTAL LIABILITIES AND 47,955,623 26144,309 12,843,518 2935,065 4068,389 2751,530 2417,270 8279,423 2001,733 1195,956 2043,364 1829,047 4946,019 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 31,719 1,967 2/9,736 2,506 2,950 1,586 1,332 4,377 1,174 793 1*174 1,174 2,950 Industrial loan commitments 2,877 1,521 473 54 222 490 117 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 23,946,536 1475,609 5,380,419 1692,739 2155,662 1641,086 1334,152 4550,327 1110,626 614,080 933,987 656,119 2401,730 Collateral for F.R. notesj Gold certificates 12,544,000 390,000 4,470,000 750,000 776655,,000000 550000,,000000 510,000 2680,000 250,000 170,000 280,000 179,000 1600,000 Eligible paper 125,094 4,657 53,245 12,230 — 8,375 11,350 18,750 14,987 — 1,500 U.S. Govt, securities J1.2£,1JL1 5i,p0W0U0 i1l1W0 0X,000 1, 0j0W0W,W0 0x0w v1000 ,7000 1425,000 1165,000 850,0 0 „ 0 f 1900,000 925,000 450,000 700,000 500,000 1100,000 # y Total collateral 24,784,094 1494,657 5,523,245 1762,230 2190,000 1673,375 1360,000 4580,000 1186,350 638,750 994,987 679,000 2701,500 l/ After deducting $580,110,000 participations of other Federal Reserve Banks. 2/ After deducting $21,983,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis