H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) September 6, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items _ _ During the week ended September 5, Member bank reserves decreased $4-6 million. The principal changes reducing reserves were increases of $228 million in Money in circulation and $26 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $19 million in Treasury deposits with Federal Reserve Banks, and increases of $54 million in Gold stock and $5 million in Reserve Bank credit. increase of $5 million in Reserve Bank credit resulted from incieases of $26 million in Float and $13 million in U. S. Government securities, an ^a decrease of $35 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected increases of $11 million in bills and $2 million in certificates. Change since Member Bank Reserves Sept. 5, August 29, Sept. 6, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,079 + 13 +4,137 Loans, discounts and advances 248 - 35 + 147 Float 678 +26 + 284 Total 24,006 + 5 +4,568 Gold stock 21,854 + 54 -1,723 Treasury currency outstanding 4,672 + 4 + 59 Money in circulation 28,262 +228 +1,003 Treasury cash holdings 1,299 + 8 - 12 Treasury deposits with F. R. Banks 408 -149 - 103 Foreign deposits with F. R. Banks 78l - 3 - 147 Other deposits with F. R. Banks 24l +26 - 51 Other F. R. accounts (net) 714 - 3 2 Member bank reserves 18,825 - 46 +2,214 Required reserves (estimated) 18,391 - 85 +2,644 Excess reserves (estimated) 434 + 39 - 430 Daily average excess reserves (estimated) 639 + 68 + 95 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since September 5, August 29, September 6 1951 1951 1950 A S S E TS Gold certificates 19,936,180 + 40,001 -1,885,249 Redemption fund for F. R. notes 674,979 + 9,768 + 157,034 Total gold certificate reserves 20,611,159 + 49,769 -1,728,215 Other cash 299,473 - 30,232 + 84,698 Discounts and advances 242,787 - 35,091 + 143,931 Industrial loans 5,562 44 + 3,297 U. S. Government securities: Bills 567,842 + 11,250 -1,730,965 Certificates 4,850,575 + 2,000 - 231,311 Notes 11,838,465 --- +7,561,465 Bonds 5,822,102 - -- -1,462,510 Total U. S. Government securities 23,078,984 + 13,250 +4,136,679 Total loans and securities 23,327,333 • 21,885 +4,283,907 Due from foreign "banks 38 + 14 F. R. notes of other banks 149,384 - 6,591 + 28,680 Uncollected cash items 3,053,541 + 35,256 + 313,098 Bank premises 42,217 - 39 + 6,294 Other assets 201,746 + 8,540 + 47,635 TOTAL ASSETS 47,684,891 + 34,818 +3,036,111 L I A B I L I T I ES Federal Reserve notes 24,095,983 + 192,665 +1,041,602 Deposits: Member bank--reserve accounts 18,825,355 - 45,335 +2,214,655 U. S# Treasurer—general account 407,810 - 149,132 - 103,558 Foreign 781,026 - 3,415 - 147,292 Other 241,283 + 25,908 - 50,538 Total deposits 20,255,474 - 171,974 +1,913,267 Deferred availability cash items 2,375,302 + 8,834 + 29,099 Other liabilities and accrued dividends 15,402 316 + 7.002 TOTAL LIABILITIES 46,742,161 + 29,209 +2,990,970 C A P I T AL A C C O U N TS Capital paid in 233,132 200 + 12,526 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,54-3 Other capital accounts 172,033 + ^ 0? + 10,766 BIB TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,684,891 + 34, +3,036,111 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.5# + .1$ 7.5* Contingent liability on acceptances purchased for foreign correspondents 24,216 + 944 + 6,058 Industrial loan commitments 5,978 + 1,936 + 3,510 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 5, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U, S, Government advances loans securities Within 15 days 228,384 554 83,000 16 to 90 days 14,403 952 7,757,234 91 days to 1 year 3,247 6,218,100 Over 1 year to 5 years 809 4,878,166 Over 5 years to 10 years ... 1,031,904 Over 10 years — — 3,110,580 Digitized for FTRoAtSaElR 242,787 5,562 23,078,984 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 5, 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 19,936,180 629,563 6,490,012 1128,330 1436,322 883,44? 840,701 4l6l,715 520,956 304,926 728,425 529,194 2282,589 Redemption fund for F. R. notes 674,979 59,678 64,846 54,533 75,8l4 63,684 47,765 110,4l8 45,991 23,775 35,731 28.176 64.568 Total gold certificate reserves 20,611,159 689,241 6,55^,858 1182,863 1512,136 947,131 888,466 4272,133 566,94? 328,701 764,156 557,370 2347,157 Other cash 299>73 23,234 62,893 16,633 21,026 16,093 19,936 58,656 15,4l6 7,817 11,253 13,068 33,448 Discounts and advances 242,78? 7,051 105,115 9,920 2,625 6,390 9,565 39,535 26,400 5,875 23,145 193 6,973 Industrial loans 5,562 — 23 4,195 335 2?0 364 145 — 66 l64 U. S. Govt, securities: Bills 567,842 4,412 188,149 34,470 51,174 36,427 29,561 91,909 8,501 17,392 25,795 26,216 53,836 Certificates 4,850,575 344,147 1,086,205 305,072 452,905 322,396 261,624 723,189 264,340 153,923 228,290 232,014 476,470 Notes 11,838,465 840,282 2,647,234 744,876 1105,832 787,176 638,792 1765,767 645,421 375,823 557,402 566,494 1163,366 Bonds 5,822,102 413,247 1,301,898 366,327 543,842 387,129 314,155 868,395 317,415 184.829 274,128 278,599 572,138 Total U. S. Government securities 23,078,984 1602,088 5,223,486 1450,745 2153,753 1533,128 1244,132 3449,260 1235,677 731,96? 1085,615 1103,323 2265,810 Total loans and " " — — — — —— — ——• securities 23,327,333 1609,139 5,328,624 1464,860 2156,713 1539,788 1254,061 3488,795 1262,077 737,98? 1108,760 1103,582 2272,947 Due from foreign banks 38 2 1/ 12 3 4 2 2 5 1 \ \ \ 4 F.R.notes of other banks 149,384 4,752 20,873 7,946 7,193 28,601 12,812 15,455 6,862 11,4?6 7,443 6,403 19,568 Uncollected cash items 3,053,541 244,?42 600,353 181,682 2?8,2?4 262,388 202,192 498,567 130,750 93,485 171,482 134,597 255,029 Bank premises 42,217 1,036 7,552 2,8?6 4,701 3,664 2,452 6,154 3,351 1,093 2,495 655 6,188 Other assets 201,746 15,023 44,294 12,486 19,437 13,435 11,122 29,853 10.775 6,348 9,626 9,373 19,974 TOTAL ASSETS 4?,684,891 2587,169 12,619,459 2869,349 3999,484 2811,102 2391,043 8369,618 1996,179 1186,908 2075,216 1825,049 4954,315 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.4.1(c) STATEMENT OF'CONDITION OF THE FEDERAL RESERVE BANKS <M SEPTEMBER 5, 1951 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St. Louis Mpls. Kans.Cy. Dallas SariFr&n. L I A B I L I T I ES Federal Reserve notes 24,095,983 1459,983 5,353,648 1690,804 2184,721 1675,347 1321,152 4648,364 1100,435 610,306 944,809 674,489 2431,925 Deposits: Member bank-reserve accts. 18,825,355 782,578 6,028,094 862,428 1432,519 799,599 798,397 3062,137 690,336 435,029 896,295 941,153 2096,790 U.S.Treasurer-general acct. 407,810 21,351 54,981 31,091 17,874 22,410 35,162 70,187 26,260 26,366 32,843 27,982 41,303 Foreign 781,026 47,325 1/252,046 60,301 70,987 38,165 32,059 105,335 28,242 19,083 28,242 28,242 70,999 Other 241,283 2,694 176,585 1,980 5,397 3,690 2,577 2,666 7,361 1,359 1,521 908 34,545 Total deposits 20,255,474 853,948 6,511,706 955,800 1526,777 863,864 868,195 3240,325 752,199 481,837 958,901 998,285 2243,637 Deferred avail, cash items 2,375,302 212,459 476,921 149,044 199,095 220,785 158,534 348,128 104,421 68,449 133,393 114,453 189,620 Other liabilities and accrued dividends 15,402 1,120 4,360 878 1,698 794 687 2,106 676 505 570 613 1,395 TOTAL LIABILITIES 46,742,161 2527,510 12,346,635 2796,526 3912,291 2760,790 2348,568 8238,923 1957,731 1161,097 2037,673 1787,840 4866,577 Capital paid in 233,132 12,341 74,893 16,599 22,293 10,199 9,54l 29,713 8,167 5,279 8,750 10,526 24,831 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 172,033 12,061 37,322 12,025 15,880 11,597 9,803 24,208 9,465 6,291 8,609 8,524 16,248 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,684,891 2587,169 12,619,459 2869,349 3999,484 2811,102 2391,043 8369,618 1996,179 1186,908 2075,216 1825,049 4954,315 Contingent liability on acceptances purchased for foreign correspondents 24,216 1,502 2/7,433 1,914 2,252 1,211 1,017 3,342 89 6 605 896 896 2,252 686 Industrial loan commitments 5,978 783 1,082 48 2,529 850 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 24,990,701 1520,270 5,603,248 1776,773 2295,138 1717,587 1366,529 4728,101 1135,811 620,200 971,213 705,271 2550,560 Collateral for F. R. notes: 4,470,000 700,000 8058,00050,000 551155,,000000 551100,,000000 22556600,,000000 250,000 150,000 280,000 179,000 1500,000 Gold certificates 12,269,000 350,000 Eligible paper 183,369 7,051 100,915 9,920 3,540 26,400 5,875 23,145 6,523 U. S. Govt, securities 13,260,000 1200,000 1,200,000 1100,000 1500,000 1250,000 900,000 2200,000 975,000 490,000 700,000 545,000 1200,000 Total collateral 25,712,369 1557,051 5,770,915 1809,920 2305,000 176b,540 1410,000 4760,000 1251,400 645,875 1003,145 724,000 2706,5^3 l/ After deducting $528,967,000 participations of other Federal Reserve Banks. 2/ After deducting $16,783,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis