H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 5> 1951 CONDITIO# OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the period ending July 3# 1951» Member bank reserves increased $87 million. The principal changes supplying reserves were decreases of $239 million in Treasury deposits with Federal Reserve Banks, $92 million in Foreign deposits with Federal Reserve Banks, $33 million in Other deposits with Federal Reserve Banks and $11 million in Other F. R. accounts (net), and an increase of $5^- million in Reserve Bank credit. The principal offsetting change was an increase of 13^7 million in Money in circulation. The increase of I5U million in Reserve Bank credit resulted from an increase of $134 million in U. S. Government securities, and decreases of $Uo million in Float and 039 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected increases of $121 million in bills, and $13 million in bonds. Change since Member Bank Reserves July 3# June 2%, July 5> and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,977 +134 +4,391 Loans, discounts and advances I87 - 39 + 101 Float 806 - 40 + 528 Total 23,970 + 5U +5,020 Gold stock 21,756 + 1 -2,1+75 Treasury currency outstanding 4,6^4 + 4 + 47 Money in circulation 27,948 +347 + 633 Treasury cash holdings 1,287 + 1 15 Treasury deposits with F. R. Banks 179 -239 - i|66 Foreign deposits with F. R. Banks 855 - 92 - 325 Other deposits with F. R. Banks 159 - 33 - 131 Other F. R. accounts (net) 76J4 - 11 - 38 Member bank reserves 19,189 + 87 +2,935 Required reserves (estimated) 18,577 - 34 +3,Hit Excess reserves (estimated) 612 +121 - 179 Daily average excess reserves (estimated) 606 62 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since July 3, June 27, July 5, 1931 1951 1950 A S S E TS Gold certificates 19,858,401 - 10,001 -2,601,028 + 130,848 Redemption fund for F • R* notes 653,378 Total gold certificate reserves 20,511,779 - 6', 462 -2,470,150 + 97,886 Other cash 290,714 - 15,637 Discounts and advances 181,090 - 39,211 4- 97,387 Industrial loans 5,704 + 254 + 3,025 U« S• Government securities: +121,156 -3,453,825 Bills 522,550 + 347,242 Certificates 3,193,792 Notes 12,439,248 +6,230,548 Bonds 6,822,102 + 13,300 +1,267,402 Total U« S« Government securities 22,977,692 +134,456 +4,591,367 Total loans and securities 23,164,486 + 95,499 +4,491,779 + 14 Due from foreign banks 38 F. R. notes of other banks 117,824 - 9,953 + 24,114 Uncollected cash items 3,319,570 - 90,977 + 910,382 4l,6l8 + 150 + 6,435 Bank premises Other assets 15M17 7,773 + 79,779 TOTAL ASSETS 47,6d4,20b 19,607 +3,140,209 L I A B I L I T I ES 23,744,939 +310,721 + 696,971 Federal Reserve notes Deposits 2 Member bank—reserve accounts 19,189,473 + 87,095 +2,935,530 U* S, Treasurer—general account 178,575 -239,099 - 466,733 Foreign 854,502 - 92,203 - 325,464 Other 159,055 - 32,578 - 130,530 Total deposits 20,3"Ei",S05 -276,785 +2,012,803 2,513,681 - 50,381 + 382,124 Deferred availability cash items Other liabilities and accrued dividends 12,723 - 8,337 + 2,950 46,652,9^5 - 24,782 +3,094,840 TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in 231,768 506 + 12,269 510,022 + 21,849 Surplus (Section 7) 27,543 Surplus (Section l$b) 181,925 + 4,669 + 11,243 Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,604,206 - 19,607 +3,140,209 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.5% 9.03b Contingent liability on acceptances purchased 28,089 1,190 + 22,107 for foreign correspondents Industrial loan commitments 3,381 162 + 2,017 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 3, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 164,737 272 108,213 16 to 90 days 16,150 1,047 2,019,920 91 days to 1 year 203 3,649 11,828,909 Over 1 year to 5 years 736 3,878,166 1,031,904 Over 5 years to 10 years 4,110,580 Over 10 years Total 181,090 5,704 22,977,692 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 JULY 3, 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 19,858,401 622,682 6,73M76 1138,660 1393,166 765,214 814,194 4093,669 505,897 316,557 673,961 453,030 2347,295 f°r As,.,78 58.671 58.426 56.249 75.856 61.871 43.690 113,161 44,4 0 23,9)4 4,044 28,52) ^ ^ 01 5 ? T°"It 20,511,779 681,355 6,792,502 1194,909 1469,022 827,085 857,884 4205,830 550,347 340,491 708,005 481,553 2402,796 « 3 K? 55 » 1 :| * ' !! "S S| i« % $* ": iE "1 Industrial loans 5,704 O ? lh"' •ill II ;I1 IIA iiis si % iis 11 is -is - | e c ^ » i ;G°V e r— 22,977,692 1620,042 5,207,752 1443,680 2143,264 1525,661 1238,073 3422,316 1230,652 713,200 1080,328 1097,949 2254,775 s ^ c u ^ l e Ba nd 23,164,486 1632,070 5,288,827 1452,567 2144,291 1529,576 1248,412 3443,841 1235,762 722,725 1093,168 1100,165 2273,082 g g £ , s r ; , r - , , || „ g| « ;| ^ - gg -g > g ;g -g ig " ;g 3 TOTAL ASSETS 4?,6o4,2o6 2637,232 12,875,836 2883,999 3963,312 2681,059 2361,213 8302,745 1939,955 1174,268 1998,397 1764,761 5021,429 1/ After deducting $26,000 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 JULY 3, 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 M,939 11*78,273 5,340,618 1680,825 2143,512 1599,429 1284,1*47 4588,631 1084,195 611,111 921,715 639,103 2373,080 Depositst Member bank-reserve accts. 19,189*473 808,763 6,223,850 888,403 1414,462 762,664 834,633 3095,431 681,213 437,752 873,797 926,011 2242,494 U.S.Treasurer-general acct. 178,575 521 163,051 79 519 1,891 2,250 496 551 4,867 1,809 551 1,990 Foreign 854,502 52,681 1/265,647 67,126 79,022 42,485 35,687 117,259 31,439 21,243 31,439 31,439 79,035 Other 159,055 5,072 87,886 1,656 5,267 9,189 3,320 4,851 6,156 1,566 2,159 495 33,438 Total deposits 20,381,605 865,037 6,740,434 957,264 1499,270 816,229 875,890 3218,037 719,359 465,428 909,204 958,496 2356,957 Deferred avail, cash items 2,513,681 232,209 516,451 172,002 230,937 213,782 157,1)41 362,425 97,267 70,949 129,022 129,046 202,150 Other liabilities and accrued dividends 12,723 1,316 3,288 599 1,474 613 558 1,855 550 656 490 471 853 TOTAL LIABILITIES 46,652,948 2576,835 12,600,791 2810,690 3875,193 2630,053 2318,336 8170,948 1901,371 1148,lW+ 1960,431 1727,116 4933,040 Capital paid in 231,768 12,329 74,800 16,373 22,173 10,155 9,487 29,558 7,846 5,261 8,722 10,481 24,583 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 181,925 12,811 39,636 12,737 16,926 12,335 10,259 25,465 9,922 6,622 9,060 9,005 17,147 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,604,206 2637,232 12,875,836 2883,999 3963,312 2681,059 2361,213 8302,745 1939,955 1174,268 1998,397 1764,761 5021,429 Contingent liability on acceptances purchased for foreign correspondents 28,089 1,742 2/8,621 2,219 2,613 1,405 1,180 3,877 1,039 702 1,039 1,039 2,613 Industrial loan commitments 3,381 1,090 566 I48 501 470 706 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 24,629,880 1513,776 5,536,790 1772,297 2259,606 1660,049 1376,637 4654,989 1123,566 621,475 950,236 684,711 2475,748 Collateral for F.R. notes: Gold certificates 12,054,000 350,000 4,470,000 675,000 765,000 465,000 51501,000,0000 221448800,,000000 250,000 150,000 280,000 159,000 1500,000 Eligible paper 134,174 12,028 75,550 4,970 — 3,190 — — 5,110 9,375 12,705 11,246 U.S. Govt, securities 13,175,000 1200,000 1,200,000 1100,000 1500,000 1215,000 900,000 2200,000 925,000 490,000 700,000 545,000 1200,000 Total collateral 25,363,174 1562,028 5,745,550 1779,970 2265,000 1683,190 1410,000 4680,000 1180,110 649,375 992,705 704,000 2711,246 l/ After deducting $588,842,000 participations of other Federal Reserve Banks 2/ After deducting $19,468,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis