H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) June 21, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended June 20, Member bank reserves decreased $5 million. The principal changes reducing reserves were increases of $304 million in Treasury deposits with Federal Reserve Banks, $88 million in Other F. R. accounts (net), and $12 million in Qther deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $367 million in Reserve Bank credit, and a decrease of $20 million in Money in circulation. The increase of $367 million in Reserve Bank credit resulted from increases of $333 million in Float and $48 million in U. S. Government securities, and a decrease of $13 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected an increase of $3,194 million in certificates, and decreases of $2,937 million in notes, $200 million in bonds, and $9 million in i • ... bills. Change since Member Bank Reserves June 20, June 13, June 21, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,806 + 48 +5 ,127 Loans, discounts and advances 171 - 13 + 94 Float 1,173 +333 + 668 Total 24,150 +367 +5 ,889 Gold stock 21,755 - 1 -2 ,476 Treasury currency outstanding 4,648 ' + 1 + 44 Money in circulation 27,479 - 20 + 553 Treasury cash holdings 1,285 - 4 - 9 Treasury deposits with F. R. Banks 433 +304 - 96 Foreign deposits with F. R. Banks 905 - 8 - 219 Other deposits with F. R. Banks 194 + 12 - 77 Other F. R. accounts (net) 774 + 88 - 10 Member bank reserves 19,482 - 5 +3 ,313 Required reserves (estimated) 18,656 +255 +3, ,134 Excess reserves (estimated) 826 -260 + 179 Daily average excess reserves (estimated) 1,046 +104 + 60 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.Uil(a) OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since June 20, June 13, June 21 1951 1951 I950 A S S E TS Gold certificates 19,878,904 4,998 -2,592,526 Redemption fund for F. R. notes 639,361 + 1,760 + 118,713 Total gold certificate reserves 20,518,265 - 3,238 -2,473,813 Other cash 313,057 12,835 + 99,758 Discounts and advances 165,345 - 13,444 + 90,590 Industrial loans 5,37 9 — 109 + 2,752 U» S. Government securities: Bills 410,894 - 8,726 -3,571,981 Certificates 3,193,792 +3 ,193,792 -1,703,358 Notes 12,465,348 -2,937,000 +9,316,648 Bonds 6,735,837 - 200,372 +1,086,037 Total U. S. Government securities 22,805,871 + 47,694 +5,127,346 Total loans and securities 22,976,595 + 34,141 +5,220,688 Due from foreign banks 38 — + 10 F. R. notes of other banks 130,163 + 2,272 + 13,667 Uncollected cash items 4,591,819 922,447 +1,371,252 Bank premises 41,505 + 3 + 6,228 Other assets 144,124 - 81,096 + 49,441 TOTAL ASSETS 48,715,566 + 887,364 +4,287,231 L I A B I L I T I ES Federal Reserve notes 23,322,105 - 12,969 + 616,058 Deposits: Member bank--reserve accounts 19,482,487 - 4,730 +3,313,365 U. S. Treasurer—general account 433,235 304.552 - 96,019 Foreign 905,275 - 8,160 - 218,511 Other 193,676 + 11,194 - 77,357 Total deposits 21,014,673 302,856 +2,921,478 Deferred availability cash items 3,418,798 + 589,714 + 703,570 Other liabilities and accrued dividends 20,097 + 2,514 + 3,786 TOTAL LIABILITIES 47,775,073 882,115 +4,S44,B92 C A P I T A L A C C O U N TS Capital paid in 230,702 + 238 + 11,884 Surplus (Section 7) 510,022 mmwm t 21,849 Surplus (Section 13b) 27,543 mmrn Other capital accounts 171,626 + 5,011 + 8,606 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,715,566 + 887,364 +4,287,231 Ratio of gold certificate reserves to deposit and F» R. note liabilities combined 46.3# - .3% - 10.1# Contingent liability on acceptances purchased for foreign correspondents 27,481 1,553 + 22,018 Industrial loan commitments 3,382 — 230 + 2,129 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 20, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S, Government advances loans securities Within 15 days 152,301 634 21,244 16 to 90 days 12,929 91 days to 1 year 345 1,990,433 115 2,932 11,859,809 Over 1 year to 5 years 1,468 3,878,166 Over 5 years to 10 years Over 10 years ' 1,031,904 Total 4,Q?/i,-U5 165,345 5,379 22,805,871 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 JUNE 20, 1951 (in thousand 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 19,878,904 618,631 7,283,254 1142,192 1384,756 725,334 770,128 3770,823 505,668 281,893 650,821 462,870 2282,534 Redemption fund for F. R. notes 639,361 59,038 54,527 55,884 74,305 6622,,558844 44,007 103,459 44,588 23,487 34,146 27,590 55,746 Total gold certificate reserves 20,518,265 677,669 7,337,781 1198,076 1459,061 787,918 814,135 3874,282 550,256 305,380 684,967 490,460 2338,280 Other cash 313,057 34,448 51,160 17,671 26,791 18,157 25,465 58,348 16,747 6,954 11,870 11,982 33,464 Discounts and advances 165,345 12,242 24,910 11,630 1,210 5,480 4,057 50,225 10,150 19,275 10,369 2,46l 13,336 Industrial loans 5,379 26 3,734 357 117 192 - -- — —— 152 — — — 4o 761 U. S. Govt, securities Bills 410,894 156,492 25,853 38,382 27,322 22,171 61,287 — — — 19,346 19,662 40,379 Certificates 3,193,792 224,469 719,252 200,953 298,332 212,365 172,334 476,370 172,203 100,454 150,377 152,829 313,854 Notes 12,465,348 876,114 2,807,223 784,320 1164,387 828,858 672,618 1859,269 672,110 392,068 586,919 596,493 1224,969 Bonds 6,735,837 473,415 1,516,930 423,819 629,195 447,886 363,459 1004,684 363,183 211,862 317,150 322,323 661,931 Total U. S. Government securities 22,805,871 1573,998 5,199,897 1434,945 2130,296 1516,431 1230,582 3401,610 1207,496 704,384 1073,792 1091,307 2241,133 Total loans and securities 22,976,595 1586,240 5,224,833 1450,309 2131,863 1522,028 1234,831 3451,835 1217,646 723,811 1084,161 1093,808 2255,230 Due from foreign banks 38 2 1/ 12 3 4 2 2 5 l 1 l l 4 F.R.notes of other banks 130,163 5,798 20,067 7,764 7,327 22,178 11,106 15,916 8,520 4,311 7,452 4,918 14,806 Uncollected cash items 4,591,819 393,011 744,554 268,776 515,716 330,999 262,981 968,802 185,145 120,852 219,493 184,611 396,879 Bank premises 41,505 1,050 7,592 2,893 4,726 3,263 2,265 5,834 3,417 1,101 2,543 666 6,155 Other assets 144,124 10,513 31,953 8,738 13,900 9,673 7,564 21,436 7,547 4,437 7,145 6,854 14,364 TOTAL ASSETS 48,715,566 2708,731 13,417,952 2954,230 4159,388 2694,218 2358,349 8396,458 1989,279 1166,847 2017,632 1793,300 5059,182 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.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 20, 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 23,322,105 1438,694 5,242,185 1649,813 2105,982 1560,092 1257,297 4529,958 1069,047 606,053 910,180 627,279 2325,525 Deposits; Member bank-reserve accts.19,482,487 852,769 6,529,579 883,347 1430,162 773,401 799,391 3060,838 690,869 420,240 859,665 934,885 2247,3^1 U.S.Treasurer-general acct. 433*235 591 419,628 519 5,083 596 596 539 2,266 161 573 654 2,029 Foreign 905,275 55,918 1/280,246 71,250 83,877 45,095 37,880 124,462 33,370 22,548 33,370 33,370 83,889 Other 193,676 4,475 133,865 1,546 4,779 1,838 4,464 1,910 6,163 840 537 458 32,801 Total deposits 21,014,673 913,753 7,363,318 956,662 1523,901 820,930 842,331 3137,749 732,668 443,789 894,145 969,367 2366,060 Deferred avail, cash items 3,418,798 295,221 534,600 274,505 ii4o,591 259,517 215,725 546,111 148,982 90,704 175,245 158,741 278,856 Other liabilities and accrued dividends 20,097 1,343 5,393 933 1,792 3,409 753 2,437 690 521 596 776 1,454 TOTAL LIABILITIES 47,775,673 2649,011 13,145,496 2881,913 4072,266 2643,948 2316,106 8266,255 1951,387 1141,067 1980,166 1756,163 4971,895 Capital paid in 230,702 12,333 74,774 16,040 22,159 10,121 9,383 29,506 7,661 5,227 8,645 10,425 24,428 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 16,852 144,519 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 171,626 12.130 37.073 12.078 15.943 11,633 9.729 23,923 9,415 6,312 8,637 8,553 16,200 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,715,566 2708,731 13,417,952 2954,230 4159,388 2694,218 2358,349 8396,458 1989,279 1166,847 2017,632 1793,300 5059,182 Contingent liability on acceptances purchased for foreign correspondents 27,481 1,700 2/8,476 2,166 2,550 1,371 1,152 3,785 1,015 686 1,015 1,015 2,550 Industrial loan commitments 3,382 1,118 664 48 503 475 574 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,371,796 1482,576 5,476,877 1755,879 2225,343 1638,980 1368,554 4614,385 1110,757 617,653 938,783 677,698 2464,311 Collateral for F.R. notesj Gold certificates 12,184,000 350,000 4,470,000 660,000 745,070405,000 445500,,000000 510,000 2660,000 250,000 150,000 280,000 159,000 1500,000 Eligible paper 100,157 12,242 20,760 11,630 — 5,180 10,150 19,275 10,234 —— 10,686 U.S. Govt, securities 12,865,000 1200,000 1,100,000 1100,000 1500,000 1215,000 900,000 2000,000 925,000 490,000 700,000 535,000 1200,000 Total collateral 25,149,157 1562,242 5,590,760 1771,630 2245,000 1670,180 1410,000 4660,000 1105,150 059,275 990,234 694,000 2710,000 l/ After deducting $625,017,000 participations of other Federal Reserve Banks. 2/ After deducting $19,005,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 4