H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) September 13> 1951 CONDITION OF THE FEDERA LRESERVE BAMS Member Bank Reserves and Related Items During the week ended September 12, Member bank reserves increased $342 million. The principal changes supplying reserves were an increase of $378 million in Reserve Bank credit, and a decrease of $46 million in Money in circulation. The principal offsetting changes were increases of $66 million in Treasury deposits with Federal Reserve Banks and $26 million in Other deposits with Federal Reserve Banks. The increase of $378 million in Reserve Bank credit resulted from increases of $267 million in Float, $83 million in Loans, discounts and advances, and $29 million in U. S. Government securities. Holdings of U. S. Government securities reflected an increase of $30 millio nin bills, and a decrease of $1 mil1ion in certificates. Change since Member Bank Reserves Sept. 12, Sept. 5, Sept. 13, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,108 + 29 +4,044 Loans, discounts and advances 331 + 83 + 258 Float 945 +267 + 4l8 Total 24,384 +378 +4,719 Gold stock 21,853 - 1 -1,723 Treasury currency outstanding 4,673 + 1 + 60 Money in circulation 28,216 - 46 +1,065 Treasury cash holdings 1,294 - 5 11 Treasury deposits with F. R. Banks 474 + 66 - 174 Foreign deposits with F. R. Banks 780 - l - 92 Other deposits with F. R. Banks 267 + 26 - 43 Other F. R. accounts (net) 713 - 1 + 10 Member bank reserves 19,167 +342 +2,302 Required reserves (estimated) 18,509 +118 +2,575 Excess reserves (estimated) 658 +224 - 273 Daily average excess reserves (estimated) 790 +151 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,1(a) STATEMENT OF CONDITION OF TfiE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since September 12, September 5, September 13 1951 1951 1250 A S S E TS Gold certificates 19,944,679 + 8,499 • 1,863,752 Redemption fund for F. R. notes 674,429 - 550 + 148,239 Total gold certificate reserves 20,619,100 + 7,949 - 1,715,513 Other cash 312,122 + 12,649 + 72,226 Discounts and advances 324,782 + 81,995 + 253,628 Industrial loans 5,769 + 207 + 3,594 U. S. Government securities: Bills 598,322 + 30,480 983,094 Certificates 4,849,375 - 1,200 - 336,093 Notes 11,838,465 + 7,774,837 Bonds 5,822,102 2,411,761 - Total U. S• Government securities 23,108,264 + 29,280 + 4,043,889 Total loans and securities 23,438,815 4- 111,482 + 4,301,111 Due from foreign banks 38 + 14 F. R. notes of other banks 174,763 + 25,379 + 33,804 Uncollected cash items 3,702,222 + 648,681 + 130,726 Bank premises 42,321 + 104 + 6,234 Other assets 209,541 + 7,795 + 39,111 TOTAL ASSETS 48,498,930 + 814,039 + 2,867,713 L I A B I L I T I ES Federal Reserve notes 24,089,390 6,593 + 1,106,372 Deposits: Member bank—reserve accounts 19,166,786 + 341,431 + 2,301,634 U. S. Treasurer--general account 473,781 + 65,971 - 173,834 Foreign 780,074 952 92,190 Other 267,465 + 26,182 41,850 Total deposits 20,688,106 + 432,632 + 1,993,760 Deferred availability cash items 2,756,854 + 381,552 - 287,325 Other liabilities and accrued dividends 16,272 + 870 + • 7,459 TOTAL LIABILITIES 47,550,622 + 808,46i + 2,820,266 C A P I T AL A C C O U N TS Capital paid in 233,132 + 12,489 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,$43 Other capital accounts 177*611 5,578 13,109 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,498,930 814,039 2,867,713 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.0% .5# iM Contingent liability on acceptances purchased for foreign correspondents 23 773 443 + 3,608 Industrial loan commitments 6^833 855 + 4,269 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 12, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U, S. Government advances loans securities Within 15 days 313,112 46? 68,800 16 to 90 days 11,670 915 7,800,714 91 days to 1 year 3,459 6,218,100 Over 1 year to 5 years 928 4,878,166 Over 5 years to 10 years 1,031,904 Over 10 years 3,110,580 Digitized for FR T A o S t ER a l 324-,782 5,769 23,108,264 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 12, 1951 H.4.1(b) (In thousands of dollars) A SS E TS Dallas SanFran. New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Total Boston 525,077 2281,593 6,440,235 1139,296 1469,505 911,715 882,076 4154,450 510,819 295,514 695,843 Gold certificates 19,9^,679 638,556 Redemption fund for 28.143 64,504 64,430 55.349 75.655 62.999 47,655 110.226 45.939 24,257 35,700 F. R. notes 674,429 59,572 Total gold certificate 698,128 6,504,665 1194,645 1545,160 974,714 929,731 4264,676 556,758 319,771 731,543 553,220 2346,097 reserves 20,619,108 O D t i h s e co r u n c t a s s h an 31 d 2 a , d 1 v 2 a 2 n ces 324,782 2 1 5 3 , , 1 5 3 7 5 5 1 6 4 8 8 , , 6 3 5 1 9 0 1 3 7 1, , 0 3 8 7 5 8 2 2 2 , 1 7 , 3 8 3 2 5 15 9 , , 7 4 1 9 5 0 1 2 9 , ,0 0 1 64 2 6 3 1 7 , , 7 2 0 0 8 0 1 1 4 3 , , 9 3 2 7 5 5 7 8 , , 7 1 1 7 2 4 5 6 4 1 2 — 1 3 — , , 4 2 2 4 2 0 14, 1 5 7 4 0 3 3 1 1 1 3 6 6 2 , 4 , 7 8 0 0 0 8 23 4,433 294 274 364 Industrial loans 5,769 U. S. Govt, securities: 36,293 29,452 91,608 15,801 17,328 25,700 26,119 53,637 Bills 598,322 8,532 208,524 34,343 50,985 322,396 261,624 723,189 264,340 153,923 228,290 232,014 476,470 C N e o r t t e i s f i 1 c 1 a , t 8 e 3 s 8 , 4 4 , 6 8 5 4 9,375 8 3 4 4 0 4 , ,1 2 4 8 7 2 2 1 , , 6 08 4 5 7 , , 0 2 0 3 5 4 3 7 0 4 5 4 , , 0 8 7 7 2 6 4 1 5 1 2 0 , 5 9 , 0 8 5 3 2 787,176 638,792 1765,767 645,421 1 3 8 7 4 5 . ,8 8 2 2 3 9 2 5 7 57 4 , , 4 1 0 2 2 8 2 5 7 6 8 6 . , 5 49 9 4 9 1 5 1 7 6 2 3 , , 1 3 3 6 8 6 Bonds 5.822,102 413,247 1,301,898 366.327 543,842 387,129 314,155 868,395 317,41! Total U. S. Government 1606,208 5,242,661 1450,618 2153,564 1532,994 1244,023 3448,959 1242,977 731,903 1085,520 1103,226 2265,611 securities 23,108,264 Total loans and 1619,783 5,390,994 1486,136 2175,683 1542,758 1246,45 13486,159 1256,352 739,822 1108,760 1103,442 2282,475 securities 23,438,815 1 4 5 1 11 Due from foreign banks 38 2 1/12 3 4 22 17,643 9,257 12,391 10,066 9,934 17,334 267551 10,705 6,705 32,968 12,424 F.R.notes of other banks 174,763 8,785 662,830 160,831 110,002 197,031 169,662 356,368 675,842 210,949 316,698 317,123 245,465 Uncollected cash items 3,702,222 279,421 655 6,188 6,154 3,351 1,093 2,495 Bank premises 42,321 1,036 7,552 2,876 4,700 3,664 2,557 31,031 11,240 6,543 10,037 9,746 20,744 46.355 12,952 19,951 13,955 11,447 Other assets 209>541 15,540 TOTAL ASSETS 46,498,930 2647,830 12,720,630 2935,644 4091,634 2900,899 2467,089 8530,206 2012,715 1197,749 2071,355 1861,161 5062,018 other Federal Reserve Banks. 1/ After deducting $26,000 participations of 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 SEPTEMBER 12, 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 24,089,390 1458,180 5,329,997 1693,705 2192,015 1685,995 1315,589 4643,247 1097,713 610,579 940,528 673,279 2448,563 Deposits: Member bank-reserve accts. 19,166,786 819,084 6,169,761 903,490 1452,727 814,836 828,717 3110,704 686,091 423,164 890,820 952,778 2114,6l4 U.S.Treasurer-general acct 473,781 17,861 86,058 27,327 38,386 39,831 47,644 79,976 27,181 26,116 26,721 26,439 30,241 Foreign 780,074 47,976 1/243,815 61,130 71,963 38,690 32,500 106,784 28,631 19,345 28,631 28,631 71,978 Other 267,465 4,777 187,842 5,410 7,o4o 6,390 2,104 3,034 9,339 1,163 552 1,587 38,227 Total deposits 20,688,106 889,698 6,687,476 997,357 1570,116 899,747 910,965 3300,498 751,242 469,788 946 ,724 1009,435 2255,060 Deferred avail, cash items 2,756,854 238,674 424,461 170,555 240,144 263,581 197,026 452,907 124,238 90,832 145,611 140,323 268,502 Other liabilities and accrued dividends 16,272 1,239 4,66o 844 1,632 844 736 2,206 751 538 579 643 1,600 TOTAL LIABILITIES 47,550,622 2587,791 12,446,594 2862,461 4003,907 2850,167 2424,316 8398,858 1973,944 1171,737 2033,442 1823,680 4973,725 Capital paid in 233,132 12,341 74,885 16,602 22,294 10,207 9,541 29,720 8,145 5,285 8,753 10,528 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,l4o Other capital accounts 177,611 12,441 38,542 12,382 16,413 12,009 10,101 24,854 9,810 6,486 8,976 8,794 16,803 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,498,930 2647,830 12,720,630 2935,644 4091,634 2900,899 2467,089 8530,206 2012,715 1197,749 2071,355 1861,161 5062,018 Contingent liability on acceptances purchased for foreign correspondents 23,773 1,474 2/7,299 1,878 2,211 1,188 998 3,280 880 594 880 880 2,211 Industrial loan commitments 6,833 1,608 1,124 48 2,528 850 675 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,089,389 1526,309 5,603,470 1776,309 2307,233 1735,272 1380,395 4729,073 1148,527 622,902 972,513 710,273 2577,113 Collateral for F.R. notes: Gold certificates 12,289,000 350,000 4,470,000 700,000 81851,50,00000 551155,0,00000 551100,0,00000 22556600,0,0000 0 260,000 150,000 280,000 179,000 1500,000 Eligible paper 259,350 13,575 146,560 31,085 — 8,540 — — 13,375 7,775 23,240 15,200 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 25,808,350 1563,575 5,816,560 1831,005 2315,000 1773,540 1410,00 04760,000 1248,375 647,775 1003,240 724,000 2715,200 l/-Afteij deducting $536,244,000 participations of other Federa lReserve Banks. 2/ After deducting $16,474,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis