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 17, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended May 16, Member bank reserves increased $239 million. The principal changes supplying reserves were an Increase of $207 million in Reserve Bank credit, and decreases of $28 million in Money in circulation and $22 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $17 million in Foreign deposits with Federal Reserve Banks. The increase of $207 million in Reserve Bank credit resulted from increases of $233 million in Float and $121 million in Loans, discounts and advances, and a decrease of $147 million in U. S,» Government securities. Holdings of U. S. Government securities reflected decreases of $165 million in bills and $8 million in notes, and an increase of $26 million in bonds. Change since Member Bank Reserves May 16, May 9, May 17 , 1951 1951 1950 and Related Items (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,397 -147 +4,996 Loans, discounts and advances 547 +121 + 465 Float 969 +233 + 451 Total 23,913 +207 +5,912 Gold stock 21,755 -- -2,475 Treasury currency outstanding 4,643 -- + 42 Money in circulation 27,287 - 28 + 307 Treasury cash holdings 1,297 - 1 + 3 Treasury deposits with F. R. Banks 745 - 22 + 319 Foreign deposits with F. R. Banks 911 + 17 - Ill Other deposits with F. R. Banks 303 + 2 + 32 Other F. R. accounts (net) 695 - 1 - 21 Member bank reserves 19,072 +239 +2,949 Required reserves (estimated) 18,264 + 28 +2,989 Excess reserves (estimated) 808 +211 40 Laily average excess reserves (estimated) 605 227 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.ii.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 16, May 9, May 17, 1951 1951 1950 A S S E TS Gold certificates 19,880,901 - 10,000 2,632,531 Redemption fund for P. R. notes 630,441 + 7,333 + 105,796 Total gold certificate reserves 20,511,342 - 2,667 - 2,526,735 Other cash 325,381 + 2,431 + 120,528 Discounts and advances 541,925 +120,353 + 462,455 Industrial loans 4,990 + 172 + 2,449 U. S. Government securities: Bills 848,824 -165,527 - 3,250,451 Certificates mm mm — - 5,771,150 Notes 14,904,633 - 7,500 +13,285,233 Bonds 6,643,679 + 26,300 + 732,979 Total U, 3. Government securities 22,397,136 -146,727 + 4,996,611 Total loans and securities 22,944,051 - 26,202 + 5,461,515 Due from foreign banks 33 -- + 4 F, R. notes of other banks 128,052 + 150 + 17,515 Uncollected cash items 4,054,391 +913,719 + 801,315 Bank premises 41,152 ^ + 156 + 6,422 Other assets 189,6^ + 7,309 + 53,05U TOTAL ASSETS 4 8 , 1 9 4^ +894,896 + 3,933,618 3-^U L I A B I L I T I ES Federal Reserve notes 23,151,268-^ - 28,142 + 355,631 Deposits: Member bank—reserve accounts 19,072,082 +238,730 + 2,948,731 Ue S• Treasurer—general account 745,395 - 21,476 4- 319,560 Foreign 910,700 + l6,689 - 111,477 Other 303,251 + 2,052 + 32,360 Total deposits 21,031,428 +235,995 + 3,189,174 Deferred availability cash items 3,085,287 +680,223 + 350,274 Other liabilities and accrued dividends 13,453 + 1,111 + 333 TOTAL LIABILITIES 47,281,4^ +889,187 + 3,895,412 so C A P I T AL A C C O U N TS Capital paid in 229,279 291 + 13,512 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 11:5,732 5,418 + 2,845 TOTAL LIABILITIES AND CAPITAL ACCOUNTS +894,096 + 3,933,618 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 1+6 10*3# Contingent liability on acceptances purchased for foreign correspondents $1,26U 172 25,879 Industrial loan commitments 2,592 23 + 1,286 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY l6, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 524,734 316 533,241 16 to 90 days 17,040 545 4,016,361 91 days to 1 year 151 2,818 8,471,707 Over 1 year to 5 years 1,311 4,436,766 Over 5 years to 10 years 1,031,904 Over 10 years Total 541,925 ' 4,990 " 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 MAY. l6, 1951 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louie Mpls. Kans.Cy. Dallas SanFran. Gold certificates 19,880,901 638,368 6,484,125 1180,881 1421,828 760,746 821,484 4173,596 525,479 315,144 724,814 490,425 2344,011 Redemption fund for F. R. notes 630.441 57.808 52.394 51.131 72,173 63,056 44,609 104,432 43,860 23,587 34^63 26,803 56,225 Total gold certificate . „ „ . reserves 20,511,342 696,176 6,536,519 1232,012 1494,001 823,802 866,093 4278,028 569,339 338,731 759,177 517,228 2400,236 Other cash 325,381 38,896 62,042 15,397 23,815 20,695 29,973 49,282 14,278 7,731 11,228 13,492 38,552 Discounts and advances 541,925 7,636 296,844 24,075 34,634 9,960 1,932 70,f35 1,200 36,300 13,828 2,310 42,471 Industrial loans 4,990 — 26 3,359 380 126 140 — — 154 — 30 775 U. S. Govt, securities: , Bills 848,824 58,474 209,218 51,835 76,953 54,778 44,453 122,877 44,915 26,153 38,789 39,422 80,957 Notes 14,904,633 1057,916 3,332,869 937,800 1392,242 991,054 804,239 2223,101 812,585 473,163 701,770 713,216 1464,678 Bonds 6,643,679 469,787 1.505,023 4l6,447 618,251 440,096 357,137 987.209 360,844 210,116 311.634 316,717 650,418 Total U. S. Government securities 22,397,136 1586,177 5,047,110 1406,082 2087,446 1485,928 1205,829 3333,187 1218,344 709,432 1052,193 1069,355 2196,053 Total loans and securities 22,944,051 1593,813 5,343,980 1433,516 2122,460 1496,0l4 1207,901 3403,922 1219,544 745,886 1066,021 1071,695 2239,299 i>'SH Due from foreign banks 33 / 2 l/ 10 3 3 2 1 5 1 1 1 1 3 F.R.notes of other banks 128,052/ 5,026 19,612 5,082 7,452 26,285 13,089 15,205 8,602 3,220 6,845 5,195 12,439 Unc ollee ted c & eh items 4,054,391 339,437 738,741 251,275 411,364 344,705 272,108 715,775 173,317 110,4i8 183,220 176,216 337,815 Bank premises 41,152) 1,055 7,610 2,898 4,739 3,o6l 2,197 5,669 3,439/6 1,104 2,559 669 6,152 Other assets 189, feq 13.772 41,985 11.635 18,083 12.728 10.118 28.158 10.QS27 6.009 9,140 9.054 18.836 TOTAL ASSETS 48,194^2 2688,177 12,750,499 2951,818 4081,917 2727,292 2401,480 8496,044 1998,£±2 1213,100 2038,191 1793,550 5053,332 3.tU A<> l/ After deducting $23,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 16, 1951 r (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 V Mpls, Kans.Cy. Dallas SanFran* Federal Reserve notes 23,151,268 142^,186 5,208,458 1633,917 2085,992 1550,61+3 1248,831 4500,760 1067,870 605,835 906,773 619,482 2298,508 Deposits; Member bank-reserve aocts, 19,072,082 803,190 6,087,379 914,350 1427,992 778,737 796,782 3120,523 678,114 425,1(48 886,828 916,007 2236,732 U.S.Treasurer-general acct 745,395 71,099 141,105 , 61,036 82,547 40,327 48,86i 98,523 41,3^0 49,278 30,140 32,305 48,834 Foreign 910,700 54,957 1/284,676 71,495 84,165 45,250 38,010 124,890 33,485 22,625 33,1485 33,485 84,177 Other 303,251 4,739 1,349 4,817 3,874 6,940 1,851 7,H7 2,287 606 491 31,214 Total deposits 21,031,428 933,985 6,751,126 1048,230 1599,521 868,188 890,593 3345,787 760,056 499,638 951,059 982,288 2400,957 Deferred avail. cash items 3,085,287 270,936 520,735 198,429 310,558 259,263 220,710 521,481 133,632 82,229 143,680 155,499 268,135 Other liabilities and accrued dividends 13,453 ' \0 1,172 4,249 722 1,296 563 541 1,903 481 A1 453 457 591 1,025 TOTAL LIABILITIES 47,281,45^2630,279 12,484,568 2881,298 3997,367 2678,657 2360,675 8369,931 1962,047 1188,155 2001,974 1757,860 4968,625 Capital paid in 229,279 12,298 74,065 16,030 21,963 10,157 9,348 29,328 7,634 5,215 8,628 10,221 24,392 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,oil 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 145,732 10,343 31,257 10,291 13,567 9,962 8,326 20,011 8,115 5,489 7,405 7,310 13,656 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,1947012 2688,177 12,750,499 2951,818 4081,917 2727,292 2401,480 8496,044 1998,6^ 1213,100 2038,191 1793,550 5053,332 jtffc Contingent liability on acceptances purchased for foreign correspondents 31,264 1,938 2/9,597 2,470 2,908 1,563 1,313 4,314 1,157 782 1,157 1,157 2,908 Industrial loan commitments 2,592 1,087 681 48 205 480 91 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,109,410 1483,336 5,410,634 1715,686 2185,440 1625,804 1362,193 4576,796 1108,002 617,536 938,143 667,910 2417,930 Collateral for F.R. notes: Gold certificates 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 Eligible paper 430,650 7,636 296,145 24,075 — 9,660 — — 1,200 36,300 13,693 — 4l,94l 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 Total collateral 25,204,650 1557,636 5,766,145 1744,075 2190,000 1674,660 1410,000 4600,000 1176,200 676,300 993,693 674,000 2741,941 l/ After deducting $626,012,000 participations of other Federal Reserve Banks. 2/ After deducting $21,667,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis