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 31, 1951 CONDITION OF TEE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the period ended May 29, Member bank reserves decreased $90 million. The principal changes reducing reserves were increases of $210 million in Money in circulation and $11 million in Foreign deposits with Federal Reserve Banks, and a decrease of $34 million in Reserve Bank credit. The principal offsetting changes were decreases of $139 million in Treasury deposits with Federal Reserve Banks and $27 million in Other deposits with Federal Reserve Banks. The decrease of $34 million in Reserve Bank credit resulted from decreases of $226 million in Float and $120 million in U. S. Government securities, and an increase of $312 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected decreases of $114 million in bills and $12 million in notes, and an increase of $6 million in bonds. Change since Member Bank Reserves ¥ May 29, May 23, May 31, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,293 -120 +4,904 Loans, discounts and advances 543 +312 + 234 Float trsi 541 -226 + 305 *3. 396 Total 23,377 - 34 +5,442 otz 7 s>~ Gold stock 21,755 -2,476 Treasury currency outstanding 4,642 + 36 - - Money in circulation <49.46/ 27,461 +210 + 371 Treasury cash holdings /2?Y 1,294 + 4 - 15 Treasury deposits with F. R. Banks 6Zo 626 -139 + 38 Foreign deposits with F. R. Banks 895 + 11 - 93 Other deposits with F. R. Banks 290 - 27 + 24 Other F. R. accounts (net) 693 - 3 - 25 Member bank reserves 18,516 - 90 +2,702 fS.Sol Required reserves (estimated) II.SLO* 18,237 - 66 +2,949 Excess reserves (estimated) 3oO 279 - 24 - 247 Daily average excess reserves (estimated) i/&H 424 1 or at - 116 * O-o • SL, JLo-v C-ow-vaiM-i * ^ JLrtx- Vsy<r, -j Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.U.l(a) OF THE TWEL1ZE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) 3° Change since May 297 lHyTJT May 31, 1951 1951 1950 A S S E TS Gold certificates 19,879,902 - 4,003 - 2,597,526 Redemption fund for F. R. notes 627,764 + 914 + 107,134 Total gold certificate reserves 20,507,666 - 3,069 - 2,490,392 J.3 Other cash 307,469 - 21,118 + 125,281 ?.7/f Discounts and advances 55^ae- +312,490 231,719 Industrial loans 5,170 + 181 2,585 Ue Se Government securities: Bills 694,824 -114,500 - 3,374,051 Certificates - 5,874,850 Notes 14,878,633 - 12,500 +13,234,933 Bonds 6,719,079 + 6,050 + 917,179 Total U* S» Government securities 22,292,536 -120,950 + 4,903,211 7. VAV Total loans and securities 22,8357624 +191,721 + 5,137,515 Due from foreign banks 38 ?Y.L, + 5 F# Re notes of other banks 120,800- - 3,391 + 26,773 Uncollected cash items 2,9 -407,614 + 553,104 Bank premises 41,070 - 66 + 6,266 Other assets 204,38# + 7,936 + 60,046 TOTAL ASSETS 46,945755#- 225,621 + 3,418,598 &<*,{. L I A B I L I T I ES Federal Reserve notes 23,293,5^3 +186,491 + 457,806 Deposits; oe.HS) Member bank—reserve accounts 18,51^t9^;«, ,- 89,855 + 2,702,097 7J U» S. Treasurer—general account 6^575^- -139,529 + 38,036 Foreign 894,601 + 10,688 93,379 Other BIO 0 - 26,518 + 24,177 Total deposits 20^25=3?^ -245,214 + 2,670,931 Deferred availability cash items 2,3@W95 -181,697 + 247,960 Other liabilities and accrued dividends + 751 + 2,309 TOTAL LIABILITIES 239,669 + 3,379/006 Vv.fcSy 9oi. ?6g C A P I T AL A C C O U N TS Capital paid in 228,979 511 + 13,122 Surplus (Section 7) 510,022 4- 21,849 Surplus (Section 13b) 27,543 ) 3 Other capital accounts 155,6^ + 4,559 4,621 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,9/,3,55% -235,621 3,418,59a £i>.c,s~g Ratio of gold certificate reserves to deposit and F# R. note liabilities combined hl.0% Contingent liability on acceptances purchased for foreign correspondents 30,789 631 + 25,571 Industrial loan commitments 3,672 972 2,386 mTURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 29, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 420-766?- 3 185 228,842 16 to 90 days IITtS&P CfSI 563 4,154,760 91 days to 1 year 162 3,048 8,457,707 Over 1 year to 5 years 1,374 4,436,766 Over 5 years to 10 years 1,031,904 Over 10 years 3.982,557 Digitized for F T RA o S t E a R l 533^8* 5,170 22,292,536 http://fraser.stlouisfed.org/ n. 1 ts Federal Reserve Bank of St. Louis

H. 4.1(b) 30 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 397 I95I (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 9,879,902 644,246 6,478,096 1163,481 1438,670 786,238 854,105 4159,449 523,4^3 313,185 717,064 483,688 2318,237 Redemption fund for F. R. notes 627,764 57,461 51,040 50,549 71,799 62,226 44,355 104,002 44,750 23,550 34,274 27,712 56,046 Total gold certificate reserves 20,^)7,666 701,707 6,529,136 1214,030 1510,469 848,464 898,460 4263,451 568,193 336,735 751,338 511,400 2374,283 7 y /_>'/ Other cash 34,436 54,071 15,207 24,951 21,395 26,9er 47,859 15,248" 6,906 10,980 13,243 36,262 Discounts and advances 19,703 232,877 34,145 10,669 22,700 20fW\ 77,885 21,075 37,655 35,755 3,26l 21,971 Industrial loans 5% 170 26 3,514 388 123 155 eioai. —~ — 153 --- 36 775 U. S. Govt, securities: Bills 69%)g24 49,318 155,372 43,718 64,904 46,201 37,492 103,636 37,882 22,057 32,715 33,249 68,280 Botes 14,878,633 1056,070 3,327,056 936,164 1389,813 989,325 802,836 2219,223 811,168 472,337 700,546 711,972 1462,123 Bonds 6,719,979 475,139 1,521,883 421,191 625,294 445,109 361,206 998,455 364,954 212,511 315,184 320,325 657,828 Total U. S. Government / securities 22,2^2,5^6 1580,527 5,004,311 1401,073 2080,011 1480,635 1201,534 3321,314 1214,004 706,905 1048,445 1065,546 2188,231 Total loans and j -7// securities 22,B35,82« 1600,230 5,237,214 1438,732 2091,068 1503,458 12227m 3399,199 1235,079 744,713 1084,200 1068,843 2210,977 U3f1 Due from foreign banks 38 2 1/ 12 3 4 2 s) 2 / ' 5 1 1 1 14 F.R.notes of other banks 120,800 4,452 16,088 5,247 8,249 23,233 /VLjftZ 14,185 3,133 7,533 3,971 13,783 Uncollected cash items 2, 926,307 253,322 620,479 178,917 277,136 220,794 v482 867 484,076 tiSjtfto 75,017 147,484 130,947 236,628 y Bank premises 41,070 1,050 7,610 2,893 4,730 3,049 2,193 5,645 3,417 1,101 2,559 669 6,154 Other assets 04,388 14,594 47,018 12,520 19,351 13,738 10,76^ 29,871 10,760- 6.354 9,714 9,656 20,045 7^ s? TOTAL ASSETS 46,943,558 2609,793 12,511,628 2867,549 3935,958 2634,133 2354,858 8244,291 196077*3-1173,960 2013,809 1738,730 4898,136 1/ After deducting $26,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.W(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 2$, 1951 (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/ Mpls, Kans.Cy, Dallas SanFran, Federal Reserve notes 25*293*53? 1434,023 5,242,541 1646,064 2095,670 1560,333 1260,187 4523,377 1070,293 605,321 912,499 628,798 2314,523 Deposits• A J Member bank-reserve accts. 1-8\515,9?9 788,899 5,888,919 868,091 1398,070 743,178 8-3^80 3030,299 670r58r 417,798 866,046 893,971 2137,789 U.S.Treasurer-general acct. p25,5p2 46,349 105,362 53,274 48,725 42,301 45^449 70,335 44,901 41,712 43,314 31,241 52,599 Foreign 894,^01 55,013 1/279,689 70,097 82,519 44,365 37,267\ 122,447 32,830 22,183 32,830 32,830 82,531 Other 2i,90,380 3,291 233,807 846 4,185 1,585 i46e| 1,536 1,130 197 485 30,404 if. fc'i (>3.hoS 11.1*1 Total deposits 20,3^6,^72 893,552 6,507,777 992,308 1533,499 831,429 90M56 3224,617 7 53-&h 482,823 942,387 958,527 2303,323 Deferred avail, cash items 2,3$4^899 222,391 489,069 157,008 219,594 192,234 159?^ 366,412 -99-592-6- 60,068 121,581 114,315 193,094 Other liabilities and t/.oof 13.01? (O0.S-3-S' accrued dividends l?i>573 1,255 4,686 896 1,753 832 795-^ 2,297 721" 481 594 814 1,44? TOTAL LIABILITIES 2551,221 12,244,073 2796,276 3850,516 2584,828 23157545 8116,703 19257624 1148,693 1977,o6i 1702,454 4812,389 Capital paid in 12,298 73,565 16,031 21,981 10,159 9,351 29,336 7,645 5,218 8,634 10,357 24,40a Surplus (Section 7) 32,246 153,290 39,710 48,014 25,167 22,369 75,345 20,295 13,168 19,047 16,852 44,519 Surplus (Section l$b) 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 55lb31 11,017 33,381 11,043 14,441 10,630 8,8-3* 21,478 8,62a 5,808 7,930 7,760 14,684 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46/943,558 2609,793 12,511,628 2867,549 3935,958 2634,133 2354t858 8244,291 I969yf±3 H73,96o 2013,809 1738,730 4898,136 7,2, OJLH Contingent liability on acceptances purchased for foreign correspondents 30,789 1,940 2/9,104 2,472 2,910 1,565 1,314 4,318 1,158 782 1,158 1,158 2,910 Industrial loan commitments 3,672 1,384 671 48 505 480 584 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,214,150 1482,68 3 5,443,409 1734,83 7 2197,427 1630,609 1362,479 4596,240 1114,705 ' 617,005 941*315 676,062 2417,379 Collateral for F.R. notes ; Gold certificates 12,244,000 350,000 4,470,000 730,000 775,000 450,000 510,000 2620,000 250,000 150,000 280,000 159,000 1500,000 Eligible paper 411,816 19,703 223,227 33,845 21,750 21,075 37,655 35,620 18,941 U.S. Govt, securities 12,680,000 1200,000 1,100,000 1000,000 1425,000 1215,000 900,000 2000,000 925,000 490,000 700,000 525.000 1200,000 Total collateral 25,335,816 1569,703 5,793,227 1763,845 2200,000 1686,750 1410,000 4620,000 1196,075 677,655 1015,620 684,000 2718,9^+1 l/ After deducting $6l4,899,000 participations of other Federal Reserve Banks. 2/ After deducting $21,685,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis