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 26, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 25; Member bank reserves decreased $292 million. The principal changes reducing reserves were a decrease of $542 million in Reserve Bank credit, and an increase of $13 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $188 million in Treasury deposits with Federal Reserve Banks and $75 million in Money in circulation. The decrease of $542 million in Reserve Bank credit resulted from decreases of $296 million in Float, $221 million in Loans, discounts and advances, and $24 million in U. S. Government securities, the last mentioned reflecting a decrease of the same amount in bills. Change since Member Bank Reserves July 25, July 18, July 26 and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S, Government securities 23,057 - 24 +5., 093 Loans, discounts and advances 84 -221 - 269 Float 922 -296 + 603 Total 24,063 -542 +5;, 427 Gold stock 21,759 + 1 -2,, 398 Treasury currency outstanding 4,658 + 2 + 53 Money in circulation 27,706 - 75 + 791 Treasury cash holdings 1,305 + 9 - 10 Treasury deposits with F. R. Banks 424 . -188 - 80 Foreign deposits with F. R. Banks 880 + 13 - 294 Other deposits with F. R. Banks 311 - 5 + 46 Other F. R. accounts (net) 767 + 1 - 42 Member bank reserves 19,088 -292 +2 ,j 673 Required reserves (estimated) 18,430 * w +2;, 845 Excess reserves (estimated) 658 -292 172 - Daily average excess reserves (estimated) 810 - 65 + 110 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since July 25, July 18, July 26, 1951 1951 1950 A S S E TS Gold certificates 19,845,403 -2,528,027 Redemption fund for F» R. notes 658,846 - 2,370 + 136,313 Total gold certificate reserves 20,504,249 - 2,370 -2,391,714 Other cash 336,926 + 10,084 + 72,347 Discounts and advances 78,082 -221,544 - 272,254 Industrial loans 5,819 + 323 + 3,143 U. S. Government securities: Bills 548,272 - 24,200 -3,509,275 Certificates 3,193,792 + 415,242 Notes 13,493,248 +7,362,248 Bonds 5,822,102 + 825.002 Total U. S. Government securities 23,057,414 - 24,200 +5,093,217 Total loans and securities 23,141,315 -245,421 +4,824,106 Due from foreign banks 38 + 14 F. R. notes of other banks 165,658 + 7,757 + 26,258 Uncollected cash items 3,249,650 -571,823 + 453,955 Bank premises 42,101 + 163 + 6,555 Other assets 178,226 + 7,896 + 89,299 TOTAL ASSETS 47,61b,163 -793,714 +3,080,820 L I A B I L I T I ES Federal Reserve notes 23,601,818 - 52,293 + 833,088 Deposits: Member bank--reserve accounts 19,087,568 -292,822 +2,672,536 U. S. Treasurer--general account 423,532 -188,285 - 80,463 Foreign 879,607 + 12,401 - 294,462 Other 310,738 + 45,775 Total deposits 20,701,445 -474,194 +2,343,386 Deferred availability cash items 2,327,933 -275,726 - 148,883 Other liabilities and accrued dividends 17,283 + 2,849 + 5,664 TOTAL LIABILITIES 46,648,479 -799,364 +3,033,255 C A P I T AL A C C O U N TS Capital paid in 232,541 61 + 12,392 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 199,578 + 13,324 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,618,163 -793,714 +3,080,820 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3% + ,6# 9.4$ Contingent liability on acceptances purchased for foreign correspondents 27,729 + 194 + 19,810 Industrial loan commitments 3,710 80 + 2,284 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 25. 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U, S. Government advances loans securities Within 15 days 62,834 822 1,779,283 16 to 90 days 15,196 561 4,666,122 91 days to 1 year 52 3,791 7,591,359 Over 1 year to 5 years — 645 4,878,166 Over 5 years to 10 years -- 1,031,904 Over 10 years — 3,110,580 Total 78,082 5,819 23,057,414 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 25, 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 19,845,403 615,844 6,561,064 1132,395 1431,843 789,109 813,699 4234,056 498,563 311,901 686,073 432,573 2338,283 Redemption fund for F. R. notes 658,846 60,326 57,055 55,649 75,435 60,665 48,361 111,585 46,291 23.891 35,942 28,409 55.237 Total gold certificate reserves 20,504,249 676,170 6,618,119 1188,044 1507,278 849,774 862,060 4345,641 544,854 335,792 722,015 460,982 2393,520 Other cash 336,926 35,615 58,983 20,020 23,452 17,654 26,947 63,966 17,270 8,248 11,606 14,628 38,537 Discounts and advances 78,082 7,992 13,353 11,065 3,175 3,315 2,832 6,270 3,970 1,075 7,267 1,991 15,777 Industrial loans 5,819 — 25 3,823 473 267 311 — — 149 — 50 721 U. S. Govt, securities: Bills 548,272 20,234 199,156 30,470 45,236 32,200 26,131 72,232 19,732 15,374 22,802 17,116 47,589 Certificates 3,193,792 226,692 714,174 200,953 298,332 212,365 172,334 476,370 174,122 101,390 150,377 152,829 313,854 Notes 13,493,248 957,737 3,017,266 848,995 1260,405 897,207 728,082 2012,585 735,639 428,356 635,315 645,679 1325,982 Bonds 5,822,102 413,247 1,301,897 366,327 543,842 387,129 314,155 868,396 317.415 184.829 274,128 278.599 572.138 Total U. S. Government securities 23,057,414 1617,910 5,232,493 1446,745 214?,815 1528,901 1240,702 3429,583 1246,908 729,949 1082,622 1094,223 2259,563 Total loans and securities 23,141,315 1625,902 5,245,871 1461,633 2151,463 1532,483 1243,845 3435,853 1250,878 731,173 1089,889 1096,264 2276,061 Due from foreign banks 38 2 1/ 12 3 4 2 2 5 1 1 1 1 4 F.R.notes of other banks 165,658 7,917 24,281 8,024 7,l6l 29,235 16,413 16,933 8,734 9,978 9,078 8,545 19,359 Uncollected cash items 3,249,650 274,949 639,271 184,486 312,254 263,332 194,438 507,261 142,587 98,317 185,159 143,865 303,731 Bank premises 42,101 1,045 7,574 2,882 4,713 3,450 2,407 6,146 3,393 1,099 2,527 664 6,201 Other assets 178,226 12,952 39,257 11,044 16,748 11,890 9.828 26,496 9,406 5.636 8.547 8.503 17.919 TOTAL ASSETS 4?,618,163 2634,552 12,633,368 2876,136 4023,073 2707,820 2355,940 8402,301 1977,123 1190,244 2028,822 1733,452 5055,332 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 CONDITIO NOP THE FEDERA LRESERVE BANKS ON JULY 25, 1951 5.4.1(c) (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 SariFran. Federal Reserve notes 23,601,818 1451,666 5,288,649 1671,391 2148,69 81582,796 1269,138 4591,129 1076,874 604,464 916,562 636,481 2363,970 Deposits Member bank-reserve accts.19,087,5°° 819,526 6,131,390 873,101 1452,908 794,654 814,317 3121,671 677,992 432,366 875,370 978,330; 2215,943 35,569 58,621 37,044 26,766 24,266 28,125 49,973 35,408 28,851 33,234 23,378 42,297 U.S.Treasurer-general acct. 423,532 53,878 1/277,378 68,651 80,817 43,450 36,498 119,922 32,153 21,725 32,153 32,153 80,829 Foreign 879,607 5,903 249,611 1,890 3,707 2,770 2,340 2.627 6,906 1,638 248 519 32,579 Other 310,738 Total deposits 20,701,445 914,876 6,717,000 980,686 1564,198 865,140 881,280 3294,193 752,459 484,580 941,005 934,380 2371,648 Deferred avail, cash item s2,327,933 204,237 342,749 148,768 218,822 206,965 161,018 380,279 107,479 73,954 131,820 123,415 228,427 Other liabilities and accrued dividends 17,283 2,008 5,845 675 1,544 750 692 2,175 642 556 524 626 1,246 TOTAL LIABILITIES 46,648,479 2572,787 12,354,243 2801,520 3933,262 2655,6512 312,128 8267,776 1937,4541 163,554 1989,911 1694,902 4965,291 Capital paid in 232,541 12,336 74,866 16,562 22,305 10,179 9,516 29,685 7,960 5,268 8,740 10,513 24,611 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 199,578 14,172 43,650 13,855 18,486 13,474 11,165 28,066 10,893 7,181 9,987 9,878 18,771 TOTAL LIABILITIES AND 47,618,163 2634,552 12,633,368 2876,136 4023,073 2707,820 2355,940 8402,30 11977,123 1190,244 2028,822 1733,452 5055,332 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 27,729 1,719 2/8,511 2,191 2,579 1,387 1,165 3,827 1,026 693 1,026 1,026 2,579 Industrial loan commitments 3,710 1,100 944 48 452 470 696 FEDERAL RESERVE AGENTS' ACCOUNTS 24,676,563 1512,813 5,562,003 1752,777 2269,31 01657,517 1350,253 4678,288 1128,476 620,603 950,525 682,746 2511,252 F.R. notes outstanding 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 56,529 7,992 13,353 11,065 - 2,915 3,970 1,075 7,132 9,027 1,200,000 1100,000 1500.00 01215,000 900,000 2200,000 975,000 490,000 700,000 545,000 1200,000 U.S. Govt, securities 25,^5,^529 1557^992 5,683)353 1811^065 2275^00 01697^915 1410*00 04760j000 1228,970 641,075 987,132 704,000 2709,027 Total collateral ' \j After deducting $602,217,000 participations of other Federa lReserve Banks. 2/ After deducting $19,218,000 participations of othe rFederal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis