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 24, 1951 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended May 21, Member bank reserves decreased „ $ $466 million. The principal changes reducing reserves were a decrease of $502 million in Reserve Bank credit, and increases of $20 million in Treasury deposits with Federal Reserve Banks and $14 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $36 million in Money in circulation and $27 million in Foreign deposits with Federal Reserve Banks. The decrease of $502 million in Reserve Bank credit resulted from decreases of $316 million in Loans, discounts and advances and $202 million in Float, and an increase of $16 million in U. S. Government securities. Holdings of U. S. Government securities reflected an increase of $69 million in bonds, and decreases of $40 million in bills and $13 million in notes. Change since Member Bank Reserves May 23, May 16, May 24, and Related Items 1951 1951 1950 (in millions of dollars) Reserve Bank credit: U. S. Government securities 22,413 + 16 +5,123 Loans, discounts and advances 231 -316 + 122 Float 767 -202 + 482 Total 23,411 -502 +5,728 Gold stock 21,755 -2,475 Treasury currency outstanding 4,642 - 1 + 41 Money in circulation 27,251 - 36 + 343 Treasury cash holdings 1,290 - 7 2 Treasury deposits with F. R. Banks 765 + 20 + 337 Foreign deposits with F. R. Banks 884 - 27 85 Other deposits with F. R. Banks 317 + 14 + 40 Other F. R. accounts (net) 696 + 1 - 22 Member bank reserves 18,606 -466 +2,684 Required reserves (estimated) 18,303 + 39 +2,998 Excess reserves (estimated) 303 -505 - 314 Daily average excess reserves (estimated) 659 21 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.lt.l(a) OF THE Tf-iELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) May 23, May 16, May 24, 1951 1951 1950 AS SET'S Gold certificates 19,883,905 + 3,oo4 2,615,526 Redemption fund for F. R. notes 626,850 - 3,591 + 105,260 Total gold certificate reserves 20,510,755 - 587 *• 2,510,266 Other cash 328,583 + 3,202 117,411 Discounts and advances 225,628 — 316,297 + 119,538 Industrial loans 4,989 - 1 2,W4 U. S# Government securities: Bills 809,324 39,500 - 3,186,551 Certificates — 5,814,650 Notes 14,891,133 - 13,500 +13,265,933 Bonds 6,713,029 + 69,350 + 858,729 Total U» S» Government securities 22,413,486 + 16,350 + 5,123,461 Total loans and securities 22,644,103 - 299,948 + 5,245,403 Due from foreign banks , 38 + 5 + 9 F. Re notes of other banks 124,191 - 3,861 + 12,695 Uncollected cash items 3,333,921 - 72.0,470 + 689,042 Bank premises 41,136 - 16 + 6,269 Other assets 196,452 + 6,868* + 56,145 TOTAL ASSETS 47,179,179 -1 ,014,807* + 3,616,708 L I A B I L I T I ES Federal Reserve notes 23,107,048 - 44,194* + 394,545 Deposits 2 Member bank—reserve accounts 18,605,784 466,298 + 2,683,674 U« S* Treasurer—'general account 765,091 + 19,696 + 336,870 Foreign 883,913 - 26,787 - 85,345 Other 316,798 + 13,547 + 40,458 Total deposits 20,571,586 - 459,842 + 2,975,687 Deferred availability cash items 2,566,596 - 518,691 + 206,223 Other liabilities and accrued dividends 15,822 + 2,369 + 695 TOTAL LIABILITIES 2+6,261,052 -1,020,358* + 3,577,150 C A P I T AL A C C O U N TS Capital paid in ' ' 229,490 + 211 + 13,682 Surplus (Section 7) 510,022 —- + 21,849 Surplus (Section l^b) 27,543 — — Other capital accounts 151,072 + 5,340 + 4,027 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,179,179 -1,014,807* + 3,616,708 Ratio of gold certificate reserves to deposit and F* R. note liabilities combined 47.0% .6% - 10.17% Contingent liability on acceptances purchased for foreign correspondents 31,420 + 156 + 25,994 Industrial loan commitments 2,700 + 108 + 1,408 * May 16 figures revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 2$, 195% (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 209,510 172 337,316 16 to 90 days 15,956 571 4,165,786 91 days to 1 year 162 2,9242 8,465,207 Over 1 year to 5 years 1,30k 4,436,766 Over 5 years to 10 years 1,031,904 Over 10 years 3.976,507 Total 225,628 4,989 22,413^85 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 OK MAY 23, 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 19,883,905 603,607 6,711,811 1173,636 1443,011 762,651 818,570 4105,961 498,502 303,7^5 717,390 445,600 2299,421 Redemption fund for , , , ,, , , . , , F. R. notes 626,850 57,579 51,828 50,764 71,928 61,658 44,44? 104,137 43,790 23,561 34,313 26,737 56,108 Total gold certificate reserves 20,510,755 66l,l86 6,763,639 1224,400 1514,939 824,309 863*017 4210,098 542,292 327*306 751*703 472,337 2355*529 Other cash 328,583 39,428 60,035 15,613 27,727 21,202 27,744 49,074 16,437 7,061 11,389 13,862 39,011 Discounts and advances 225*628 14,266 93*517 11,695 6,109 11,660 1,422 31*735 2,100 28,900 16,342 2,2.61 5>621 Industrial loans 4,989 — 26 3,339 405 120 l4o — — 15^ — 30 775 U. S. Govt, securities: Bills 809,324 46,217 192,203 50,923 75,598 53,815 43,670 120,715 44,124 25,693 38,106 38,728 79,532 Notes 14,891,133 1056,958 3,329,851 936,950 1390,981 990,156 803,511 2221,087 811,849 472,734 701,134 712,571 1463,351 Bonds 6,713,029 474,710 1,520,530 420,811 624,729 444,707 360,879 997,553 364,625 212,318 314.899 320,035 07,233. Total U. S. Government securities 22,413,486 1577,885 5,042,584 l4o8,684 2091,308 1488,678 1208,060 3339,355 1220,598 710,745 1054,139 1071,334 2200,116 Total loans and securities 22,644,103 1592,151 5,136,127 1423,718 2097,822 1500,458 1209,622 3371,090 1222,698 739,799 1070,481 1073,625 2206,512 Due from foreign banks 38 2 1/ 12 3 4 2 2 5 1 1 1 1 ^ F.R.notes of other banks 124,191 3,136 lH,179 5,027 6,88l 26,342 10,826 15,704 9,810 3,693 5,676 4,951 13,966 Uncollected cash items 3,333,921 290,059 592,768 206,404 303,551 306,338 214,735 551,574 146,476 93,696 179,149 153,980 295,191 Bank premises 41,136 1,055 7,610 2,893 4,739 3,049 2,195 5,669 3,439 1,104 2,559 669 6,155 Other assets 196.452 14,497 43,294 12,144 18,733 13,203 10,484 29,200 10,46l 6,231 9,384 9,380 19,441 TOTAL ASSETS 47,179,179 2601,514 12,621,664 2890,202 3974,396 2694,903 2338,625 8232,414 1951,614 1178,891 2030,342 1728,805 4935,809 l/ After deducting $26,000 participations of other Federal Reserve Banks• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 23, 1951 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 23,107,01+8 11+21,076 5,202,1+90 163k,781 2085,688 15U,291 121+0,761 1+1+99,800 1063,31+2 6ol+,l+6l 903,190 618,028 2292,140 Deposits ? Member bank-reserve accts. 18,605,781+ 803,745 6,099,068 863,158 1398,282 762 ,871+ 793,761+ 2937,117 61+8,831 1+05,114 864,054 872,331 2157,446 U.S.Treasurer-general acct. 765,091 63,729 81+,051 85,1+01 82,836 14+,932 1+0,101+ 123,978 51,337 48,751 48,754 34,499 56,719 Foreign 883,913 53,723 1/283,1+11+ 68,1+54 80,581+ 1+3,325 36,393 119,577 32,061 21,663 32,061 32,061 80,597 Other 316,798 4,269 250,31+8 1,61+2 4,597 2,323 9,072 2,330 7,981 1,737 335 1,530 30,634 Total deposits 20,571,586 925,466 6,716,881 1018,655 1566,299 853,454 879,333 3183,002 740,210 477,265 945,204 940,1+21 2325,396 Deferred avail,cash items 2,566,596 195,451 430,757 164,966 235,722 250,395 176,698 420,470 110,544 71,547 lU+,860 133,529 231,657 Other liabilities and accrued dividends 15,822 1,292 4,417 825 1,671 768 747 2,231 669 492 561 752 1,397 TOTAL LIABILITIES 46,261,052 2543,285 12,354,545 2819,227 3889,380 2645,908 2297,539 8105,503 1914,765 1153,765 1993,815 1692,730 1+850,590 Capital paid in 229,490 12,298 74,109 16,030 21,974 10,159 9,350 29,334 7,636 5,217 8,633 10,357 24,393 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 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 151,072 10,674 32,401 10,746 14,022 10,320 8,605 20,803 8,397 5,668 7,710 7,559 14,167 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,179,179 2601,514 12,621,664 2890,202 3974,396 2694,903 2338,625 8232,414 1951,614 1178,891 2030,342 1728,805 4935,809 Contingent liability on acceptances purchased for foreign correspondents 31,420 1,946 2/9,670 2,480 2,919 1,569 1,318 4,331 1,161 785 1,161 1,161 2,919 Industrial loan commitments 2,700 1,221 655 48 205 480 91 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,127,777 1481,535 5,424,407 1725,616 2177,864 1622,837 1368,277 4577,680 1106,219 617,301 936,228 667,239 2422,574 Collateral for F.R. notesj Gold certificates 12,234,000 350,000 4,470,000 730,000 765,000 450,000 510,000 2620,000 250,000 150,000 280,000 159,000 1500,000 Eligible paper 178,461 14,266 91,842 11,695 -- 11,360 — — 2,100 28,900 16,207 — 2,091 U.S. Govt, securities 12,670,000 I200,000 1,100,000 1000,000 1425,000 1215,000 900,000 2000,000 925,000 490,000 700,000 515,000 1200,000 Total collateral 25,052,2+61 1564,266 5,661,81+2 1741,£>95 2190,000 1676,360 1Z+10,000 1+620,000 1177,100" -9767207 674,000 2702,0yl l/ After deducting $600,485,000 participations of other Federal Reserve Banks. 2/ After deducting $21,750,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis