H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) May 10, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended May 9, Member bank reserves decreased $109 million. The principal changes reducing reserves were increases of $60 million in Money in circulation and $60 million in Treasury deposits with Federal Reserve Banks, and a decrease of $18 million in Reserve Bank credit. The principal offsetting changes were decreases of $15 million in Foreign deposits with Federal Reserve Banks and $16 million in Other deposits with Federal Reserve Banks. The decrease of $18 million in Reserve Bank credit resulted from a decrease of $172 million in U. S. Government securities, and an increase of $157 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected decreases of $215 million in bills and $4 million in notes, and an increase of $47 million in bonds. Change since Member Bank Reserves May 9, May 2, May 10, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,544 -172 +4,953 Loans, discounts and advances 426 +157 + 333 Float 736 - 3 + 442 Total 23,706 - 18 +5,728 Gold stock 21,755 - — -2,494 Treasury currency outstanding 4,643 + 41 Money in circulation 27,315 + 60 + 274 Treasury cash holdings 1,298 + 4 20 Treasury deposits with F. R. Banks 767 + 60 + 234 Foreign deposits with F. R. Banks 894 - 15 - 124 Other deposits with F. R. Banks 301 - 16 + 5 Other F. R. accounts (net) 696 - 1 21 Member bank reserves 18,833 -109 +2,926 Required reserves (estimated) 18,236 -226 +3,089 Excess reserves (estimated) 597 +117 - 1^3 Daily average excess reserves (estimated) 702 +189 6l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H«l|..l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 9, May 2, May 10, 1951 1951 1950 A S S E TS Gold certificates 19,890,901 - 2,501 2,633,529 Redemption fund for P* R. notes 623,108 + 280 + 99,^62 Total gold certificate reserves 20,514,009 - 2,221 - 2,534,067 Other cash 322,950 - 9,oo4 + 130,818 Discounts and advances 421,572 +157,675 + 331,097 Industrial loans 4,818 + 162 + 2,255 Acceptances purchased 165 U. S. Government securities: Bills 1,014,351 -214,947 - 3,249,124 Certificates - 5,748,250 No tes 14,912,133 - 4,000 +13,308,733 Bonds 6,617,379 + 47,120 + 61+1,279 Total U« S« Government securities 22,543,863 -171,827 -f 4,952,638 Total loans and securities 22,970,253 - i4,i55 4-5,285,990 Due from foreign banks 33 — + 4 P. R* notes of other banks 127,902 + 1,996 •f 30,486 Uncollected cash items 3,140,672 -221,689 + 614,733 Bank premises 40,996 + 81 + 6,401 Other assets 182,301 + 6,541 + 50,168 TOTAL ASSETS 47,299,116 -238,451 + 3,584,533 L I A B I L I T I ES Federal Reserve notes 23,179,1+10 + 53,593 334,694 Deposits: Member bank—reserve accounts 18,833,352 -108,285 2,926,398 U. S• Treasurer—general account 766,871 + 60,31+8 233,974 Foreign 89^,011 - 15,341 123,951 Other 301,199 - 15,91+8 5,025 Total deposits 20,795,433 - 79,226 3,01+1,2+46 Deferred availability cash items 2,1405,061+ -218,11+6 173,104 Other liabilities and accrued dividends 12,3 i*g 297 1,550 TOTAL LIABILITIES 1+6,392,21+9 -244,076 3,547,694 C A P I T AL A C C O U N TS Capital paid in 228,988 239 + 13,325 Surplus (Section 7) 510,022 + 21,81+9 Surplus (Section 13b) ' 27,51+3 Other capital accounts ll+0,3lU + 5,386 + 1,665 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,299,116 -230,1+51 + 3,584,533' Ratio of gold certificate reserves to deposit and P. R. note liabilities combined I46*6% 10.2% Contingent liability on acceptances purchased for foreign correspondents 31,W6 37 + 25,869 Industrie 1 loan commitments 2,6l5 96 + 1 ,??6 MATURITY DISTRIBUTION OF LOAMS AND SEOTRIT^SjJ;1AY _9_,... 1.951 (Callable Govermuent securities classified according to nearest call da e) Discounts and Industrial u, S. Government advances loans securities Within 15 days 399,825 165 577,752 16 to 90 days 21,721 685 4,137,377 91 days to 1 year 26 2,684 8,479,207 Over 1 year to 5 years 1,284 4,436,766 Over 5 years to 10 years 1,031,904 Over 10 years 3,880,857 D ht i t g p i : t / iz /f e ra d s f e o r r . s F tl R o T A ui o S sf E e h R d o . o i rg/ 121,572 4,818 - 22,^43,r~ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 9, 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 19,890,901 625,526 6,514,112 1168,454 1424,820 774,083 831,153 4183,434 515,140 317,420 719,263 485,540 2331,956 Redemption fund for F. R. notes 623.108 57,927 47.927 51.397 71,345 62,123 42.710 104,586 43,913 23,618 34,396 26.837 56,329 Total gold certificate reserves 20,514,009 683,453 6,562,039 1219,851 1496,165 836,206 873,863 4288,020 559,053 341,038 753,659 512,377 2388,285 Other cash 322,950 37,646 61,771 14,781 28,192 20,364 28,010 49,041 13,817 6,573 10,790 13,246 38,719 Discounts and advances 421,572 6,742 190,106 9,915 42,134 12,440 5,322 52,885 7,123 31,950 9,245 11,510 42,200 26 3,216 361 119 l4l 155 22 778 industrial loans 4,818 U. S. Govt, securities: 226,822 63,823 94,751 67,447 54,734 151,296 55,301 32,201 47.760 48,539 99,680 Bills 1,014,351 71,997 Notes 14,912,133 1058,448 3,334,546 938,272 1392,942 991,552 804,644 2224,219 812,996 473,1:01 702,123 713,574 1465,4i6 Bonds 6,617,379 467,921 1,499,142 414.792 615,79% 438,348 355,717 983,286 359,409 209,282 310,395 315,460 647,833 Total U. S. Government Z u M tL — 22,543,863 1598,366 5,c6o, 10 1*16,887 2103,48? 1*97,3*7 1215,095 3358,801 1227,706 714,884 1060,278 1077,573 2212,929 5 TT J ™ s~ 22,970,253 1605,108 5,250,642 1430,018 2145,982 1509,906 1220,558 3411,686 1234,829 746,989 1069,523 1089,105 2255,907 i3 : EEBHS-EhsS 26I'M Hi J:i 41 * S 41 as as as ii-is && * gg 17A25 e.% TOTAL ASSETS 4?,299,116 2613,428 12,494,081 2897,458 3982,479 2675,152 2360,768 8337,361 1972,315 1190,539 2011,926 1760,665 5002,944 l/ Includes $23,000 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 MAY 9, 1951 8.4.1(c) (In thousands of dollars) Mpls. Kans.Cy. Dallas San Fran, L I A B I L I T I ES Total Boston New York Phila. CIeve, Rich. Atlanta Chicago St.Louis 5,206,898 1636,1*06 2086,077 1557,01*1 1254,580 1&97,088 1069,411 607,117 910,029 623,059 2305,728 Federal Reserve notes 23,179,410 1^25,976 Deposits $ 429,188 861,702 915,327 2214,852 Member bank-reserve accts.. 18 >833,352 783,346 5,957,756 898,055 1432,177 774,798 816,216 3075,993 673,942 U.S.Treasurer-general acct. 766,871 70,765 169,314 52,753 67,117 34,568 31,542 127,540 42,269 36,358 44,598 36,656 53,591 Foreign 894,011 54,957 1/279,723 70,026 82,435 44,320 37,229 122,323 32,797 22,160 32,797 32,797 82,447 Other 301,199 4,531 ~ 237,815 679 4,172 3,217 5,619 1,807 6,819 1,707 1,554 652 32,627 Total deposits 20,795,433 913,599 6,644,608 1021,513 1585,901 856,903 890,606 3327,663 755,827 489,413 940,651 985,432 2383,317 68,826 124,810 116,277 228,710 Deferred avail. cash items 2,405,064 215,287 374,682 168,587 225,138 212,324 174,510 385,639 110,274 Other liabilities and accrued dividends 12,342 1,078 3,368 644 1,327 590 542 1,650 529 406 424 489 1,295 TOTAL LIABILITIES 46,392,249 2555,940 12,229,556 2827,150 3898,443 2626,858 2320,238 8212,040 1936,041 1165,762 1975,914 1725,257 4919,050 5,215 8,631 10,190 24,381 Capital paid in 228,988 12,298 73,873 16,022 21,948 10,149 9,342 29,323 7,6l6 48,014 25,167 22,369 75,345 20,295 13,168 19,047 16,852 44,519 Surplus ^Section 7) 510,022 32,246 153,290 39,710 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Surplus (Section 13b) 27,543 3,011 7,319 4,489 tither capital accounts 140,314 9,933 30,043 10,087 13,068 9,629 8.057 19,224 7,842 5.321 7.197 7,059 12,854 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,299,116 2613,428 12,494,081 2897,458 3982,479 2675,152 2360,768 8337,361 1972,315 1190,539 2011,926 1760,665 5002,944, Contingent liability on acceptances purchased -.for foreign correspondents 31,436 1,949 2/9,650 2,484 2,924 1,572 1,320 4,338 1,163 786 1,163 1,163 2,924 Industrial loan commitments 2,615 1,088 700 48 205 480 94 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,081,764 1474,684 5,396,521 1718,499 2182,882 1629,900 1353,402 4574,791 1110,266 617,116 937,495 667,728 2418,480 Collateral for F.R. notesj 12,204,000 350,000 4,470,000 720,000 765,000 450,000 510,000 2600,000 250,000 150,000 280,000 159,000 1500,000 Gold certificates 36,200 Eligible paper 301,986 6,742 189,306 9,915 « 11,640 — — 7,123 31,950 9,110 U.S. Govt, securities 12,570,000 1200,000 1,000,000 1000,000 1425,000 1215,000 900,000 2000,000 925,000 490,000 700,000 515,000 1200,000 674,000 2736,200 Total collateral 25,075,986 1556,742 5,659,306 1729,915 2190,000 1676,640 1410,000 4600,000 1182,123 671,950 989,HO l/ After deducting $614,275,000 participations of other Federal Reserve Banks. 2/ After deducting $21,786,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis