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 19, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 18, Member bank reserves increased $16 million. The principal changes supplying reserves were an increase of $338 million in Reserve bank credit, and decreases of $112 million in Money in circulation and $43 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $359 million in Treasury deposits with Federal Reserve Banks and $119 million in Other deposits with Federal Reserve Banks. The increase of $338 million in Reserve bank credit resulted from increases of $285 million in Float and $63 million in Loans, discounts and advances, and a decrease of $11 million in U. S. Government securities. Holdings of U. S. Government securities reflected a decrease of $65 million in bills, and an increase of $54 million in notes. Change since Member Bank Reserves JJuullyy 1188,, July 11, July 19. and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,081 - 11 +5 ,212 Loans, discounts and advances 305 + 63 + 103 Float 1,218 +285 + 814 Total 24,605 +338 +6 ,130 Gold stock 21,758 + 1 -2 ,449 Treasury currency outstanding 4,656 + 50 -- Money in circulation 27,781 -112 + 752 Treasury cash holdings 1,296 — «• - 14 Treasury deposits with F. R. Banks 612 +359 + 87 Foreign deposits with F. R. Banks 867 - 43 - 334 Other deposits with F. R. Banks 316 +119 + 55 Other F. R. accounts (net) 766 - 2 - 38 Member bank reserves 19,380 + 16 +3., 22> Required reserves (estimated) 18,430 - 10 +2., 903 Excess reserves (estimated) 950 + 26 + 320 Daily average excess reserves (estimated) 875 4. kq + 212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OP CONDITION H*4*l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 18, July 11, July 19, 1951 1951 1950 A S S E TS Gold certificates 19,845,433 + 2 -2,583,028 Redemption fund for F. R. notes 661,216 4,819 + 138,871 Total gold certificate reserves 20,506,619 4,917 -2,444,157 Other cash + 326,842 22,594 + 76,525 Discounts and advances 299,626 + 63,319 + 100,093 Industrial loans 5,496 169 + 2,817 U. S. Government securities: Bills 572,472 - 65,078 -3,056,775 Certificates 3,193,792 — + 415,242 Notes 13,493,248 + 54,OOQ +7,317,543 Bonds 5,822,102 -- + 536,102 Total U. S. Government securities 11,of# 23,061,614 - +5,212,117 Total loans and securities 23,386,736 + 52,072 +5,315,027 Due from foreign banks 38 + 14 F. R. notes of other banks 157,901 + 18,887 + 17,369 Uncollected cash items 3,821,473 + 522,478 + 665,501 Bank premises 41,938 + 170 + 6,500 Other assets 170,330 + 7,954 + 84,480 TOTAL ASSETS 4S,411,B77 + 1 619,338 +3,721,2$ L I A B I L I T I ES Federal Reserve notes 23,654,111 76,103 + 785,706 Deposits: Member bank—reserve accounts 19,380,390 + 16,144 +3,223,081 U. S. Treasurer—general account 611,817 + 359,313 + 8 6 , 3# Foreign 867,206 - 43,171 - 334,441 Other 316,226 119,287 + 55,530 Total deposits 21,175,639 + 451,573 +3,030,513 Deferred availability cash items 2,603,659 4- 237,300 - 148,719 Other liabilities and accrued dividends 14,434 + 844 + 5,582 TOTAL LIABILITIES 47,447,843 613,614 +3,673,052 C A P I T AL A C C O U N TS Capital paid in 232,480 509 + 12,#0 Surplus (Section 7) 510,022 + 21,81# Surplus (Section 13b) 27,5*43 Other capital accounts 193,989 5,215 + 13,888 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5 T OT 619,338 +3,721,259 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 1+5.7# - 10,3# Contingent liability on acceptances purchased for foreign correspondents 27,535 2 + 21,611 Industrial loan commitments 3,790 86 + 2,419 MATURITY DISTRIBUTION CF LOANS AND SECURITIES, JULY 18, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U« S. Government advances loans securities Within 15 days @86,339 735 1,755,983 16 to 90 days 13,21# 579 4,713,622 91 days to 1 year 3,536 7,591,359 Over 1 year to 5 years — 646 4,878,166 Over 5 years to 10 years — — 1,031,904 Over 10 years — — 3,110,580 Total 299,626 5,496 23,081,614 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 18, 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 19,845>03 638,598 6,560,625 1151,955 1458,929 798,9^8 812,629 4l66,710 487,338 298,838 684,334 434,714 2351,785 f°r 661.216 60.457 57.511 55.860 75.583 61.698 48.484 111.613 46.348 23.899 35.978 26.415 55,330 certificate ^ ^ 619 699,055 6,618,156 1207,815 1534,512 860,646 861,113 4278,343 533,686 322,737 720,312 463,129 2407,115 snsr-— ss a ts 1$: i:g as ;:§ 'is ts sg Industrial 5,496 — 25 3,744 473 100 233 150 — 50 721 loans "• securlties: ... 200,005 35,517 52,727 37,533 30,458 84,194: 5,058 17,920 26,578 27,012 55,470 572)472 E'""' 4S5 IS ;-l i§1 It « S 1 Si il fes TOsecuritieBGOTerCme°" 23,081,614 1588,488 5,242,530 1451,792 2155,306 1534,234 1245,029 3441,545 1232,234 732,495 1086,398 1104,119 2267,444 T°s^iltS8a'4 23,386,736 1595,963 5,434,270 1457,951 2157,729 1538,379 1246,617 3471,165 1242,372 739,920 1090,858 1106,445 2305,067 l 'II il "II il il 11 il I if "111II ii TOTAL ASSETS 48,411,877 2702,735 12,928,017 2926,642 4113,769 2747,544 2391,412 8490,819 1977,465 1194,748 2063,296 1767,970 5107,460 1/ After deducting $26,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS OK JULY 18, 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 23,654,111 1458,672 5,294,450 1675,679 2152,437 1586,115 1273,103 4595,647 1082,268 606,974 918,379 636,267 2374,120 Deposits: Member bank-reserve accts. 19# 380,390 853,689 6,282,344 872,979 1480,009 795,216 811,887 3121,824 671,755 433,869 893,200 887,721 2275,897 U.S.Treasurer-general acct. 6ll,8l7 29,796 151,415 64,419 53,903 35,529 34,752 75,857 23,253 23,315 42,602 34,025 42,951 Foreign 867,2G6 52,985 1/274,957 67,513 79,478 42,730 35,893 117,935 31,620 21,365 31,620 31,620 79,490 Other ' — 1,992 4,070 2,662 2,958 2,479 8,398 1,070 760 519 32,160 Total deposits 21,175,639 940,867 6,963,477 1006,903 1617,460 876,137 885,490 3318,095 735,026 479,619 968,182 953,885 2430,498 Deferred avail, cash items 2,603,659 240,059 388,319 169,118 253,205 232,760 188,676 441,291 120,210 81,167 137,645 138,968 212,241 Other liabilities and accrued dividends 14,434 1,824 3,921 680 1,383 729 661177 2,098 553 447777 512 556666 1,074 TOTAL LIABILITIES 47,447,843 2641,422 12,650,167 2852,380 4024,485 2695,741 2347,886 8357,131 1938,057 1168,237 2024,718 1729,686 5017,933 "Capital paid in 232,480 12,336 74,856 16,557 22,282 10,178 9,514 29,676 7,959 5,265 8,737 10,510 24,610 i-Swplus (Section J) 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,l4o Other capital accounts 193,989 13,720 42,385 13,506 17,982 13,109 10,881 27,238 10,633 7,005 9,657 9,615 18,258 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,411,877 2702,735 12,928,017 2926,642 4113,769 2747,544 2391,412 8490,819 1977,465 1194,748 2063,296 1767,970 5107,460 Contingent liability on acceptances purchased for foreign correspondents 27,535 1,711 2/8,407 2,181 2,567 1,380 1,160 3,809 1,021 690 1,021 1,021 2,567 Industrial loan commitments 3,790 1,179 944 48 453 470 696 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 24,718,218 1507,116 5,575,296 1752,522 2271,311 1656,428 1361,483 4684,401 1131,305 622,348 951,891 686,901 2517,216 Collateral for F.R. notes: Gold certificates 12,184,000 350,000 4,470,000 700,000 775,000 480,000 510,000 2560,000 250,000 150,000 280,000 159,000 1500,000 Eligible paper 263,690 7,475 191,515 2,415 — 3,645 — — 10,138 7,275 4,325 — 36,902 U. S. Govt, securities 13,225,000 1200,000 1,200,000 1100,000 1500,000 1215,000 900,000 2200,000 975,000 490,000 700,000 545,000 1200,000 Total collateral 25,672,690 1557,475 5,861,515 1802,415 2275,000 1698,645 1410,000 4760,000 1235,138 647,275 984,325 704,000 2736,902 1/ After deducting $592,238,000 participations of other Federal Reserve Banks. 2/ After deducting $19,128,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis