H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) September 20, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended September 19, Member ban kreserves increased $668 million. The principal changes supplying reserves were increases of $401 million in Reserve Bank credit and $81 million in Gold stock, and decreases of $99 million in Other deposits with Federal Reserve Banks, $76 million in Money in circulation, and $23 million in Foreign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $17 million in Other F. R. accounts (net). The increase of $401 million in Reserve Bank credit resulted from increases of $341 million in Float, $33 million in Loans, discounts and advances, and $27 million in U. S. Government securities. Holdings of U. S. Government securities reflected an increase of $28 million in bills, and a decrease of $1 million in certificates. Change since Member Bank Reserves Sept. 19, Sept. 12, Sept. 20, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,135 + 27 +4,609 Loans, discounts and advances 364 + 33 + 311 Float 1,286^v +341 + 697 Total 24,78^3 +401 +5,616 Gold stock 21,934 + 81 -1,591 Treasury currency outstanding 4,674 + 1 + 61 Money in circulation 28,l4o - 76 +1,059 Treasury cash holdings 1,285 - 9 - 16 Treasury deposits with F. R. Banks 477 + 3 - 177 Foreign deposits with F. R. Banks 757 - 23 - 135 Other deposits with F. R. Banks l6£K6 - 99 - 144 Other F. R. accounts (net) 730 +17 - 38 Member bank reserves 19,835 +668 +3,536 Required reserves (estimated) 18,786 +277 +2,840 Excess reserves (estimated) 1,049 +391 + 696 Daily average excess reserves (estimated) 929 +139 - 11 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 19, September 12, September 20; 1951 1951 1950 A S S E TS Gold certificates 20,022,679 + 78,000 -1,739,752 Redemption fund for F. R. notes 674,244 185 + 149,473 - Total gold certificate reserves 20,696,923 + 77,815 -1,590,279 Other cash 328,203 + 16,081 + 86,758 Discounts and advances 359,002 + 34,220 + 307,728 Industrial loans 44,,999966 - 773 ++ 22,,881155 U. S. Government securities: Bills 625,422 + 27,100 - 391,874 Certificates 4,848,575 - 800 + 367,101 Notes 11,838,465 - - +2,542,253 Bonds 5,822,102 - •» +2,091,027 Total U. S. Government securities 23,134,564 + 26,300 +4,608,507 Total loans and securities 23,498,562 + 59,747 +4,919,050 Due from foreign banks 38 + 14 — — F. R. notes of other banks 166,436 - 8,327 + 15,312 Uncollected cash items 4,579,039 + 876,817 + 707,295 Bank premises 42,456 + 135 + 6,362 Other assets 197,778 - 11,763 + 90,101 TOTAL ASSETS 49,509,435 +1,010,505 +4,234,613 L I A B I L I T I ES Federal Reserve notes 24,008,401 80,989 +1,084,387 Deposits: Member bank—reserve accounts 19,835,222 + 668,436 +3,536,711 U. S. Treasurer—general account 477,201 , + 3,420 - 176,977 Foreign 756,944^' - 23,130 - 135,105 Other - 22o022_ Total deposits 21,237-r§e3"^' + 549,697 - +3,080,797 Deferred availability cash items 3,29^754©-^' + + "10,2U5 Other liabilities and accrued dividends 16,627 + 355 + 9,248 TOTAL LIABILITIES 46,555,371 +1,004,749 +4,184,637 C A P I T AL A C C O U N TS Capital paid in 233,236 104 + 12,601 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 183,263 5,652 .+ 15426 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,509,435 +1,010,505 •*,234,613 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7% .3# 8.6)6 Contingent liability on acceptances purchased for foreign correspondents 22,626 1,147 + 662 Industrial loan commitments 6,505 328 + 3,965 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 19, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 353,223 982 78,500 16 to 90 days 5,779 461 7,817,314 91 days to 1 year 2,771 6,218,100 Over 1 year to 5 years 782 4,896,456 Over 5 years to 10 years 1,013,614 Over 10 years 3,110,580 Total 359,002 4,996 23,134,564 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 SEPTEMBER 19, 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 20,022,679 642,910 6,619,961 1175,139 1479,600 885,756 860,230 4144,001 476,001 294,092 694,671 506,051 2244,267 Redemption fund for F. R. notes 674,244 59,457 64,049 55.142 75,497 64,144 47.550 110.053 45.890 24,241 35,667 28,115 64,439 Total gold certificate reserves 20,696,923 702,367 6,684,010 1230,281 1555,097 949,900 907,780 4254,054 521,891 318,333 730,338 534,166 2308,706 Other cash 328,203 25,549 68,410 18,672 21,197 18,394 22,993 61,894 15,150 9,016 12,599 15,918 38,411 Discounts and advances 359,002 5,166 193,900 24,815 8,050 2,750 1,714 37,100 17,425 12,275 26,657 1,350 27,800 Industrial loans 4,996 23 3,562 286 347 395 — 144 75 164 U. S. Govt, securities: Bills 625,422 15,086 172,726 38,282 56,833 40,455 32,830 100,945 33,170 17,544 28,647 29,115 59,789 Certificates 4,848,575 344,147 1,084,205 305,072 452,905 322,396 261,624 723,189 264,340 153,923 228,290 232,014 476,470 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 23,134,564 1612,762 5,206,063 1454,557 2159,412 1537,156 1247,401 3458,296 1260,346 732,119 1088,467 1106,222 2271,763 Total loans and securities 23,498,562 1617,928 5,399,986 1482,934 2167,748 1540,253 1249,510 3495,396 1277,771 744,538 1115,124 1107,647 2299,727 Due from foreign banks 38 2 l/l2 3 4 2 2 5 1 1 1 1 4 F.R.notes of other banks 166,436 7,066 22,727 8,657 7,946 29,305 12,021 17,635 10,277 12,195 10,074 9,387 19,146 Uncollected cash items 4,579,039 358,427 864,673 259,394 421,967 353,859 272,792 792,850 203,080 142,015 265,727 204,088 440,167 Bank premises 42,456 1,036 7,552 2,876 4,697 3,664 2,559 6,228 3,351 1,093 2,496 655 6,249 Other assets 197,778 14.647 44.080 12,196 18,883 13,095 10,845 29.059 10,456 6,116 9,427 9,335 19,639 TOTAL ASSETS 49,509,435 2727,022 13,091,450 3015,013 4197,539 2908,472 2478,502 8657,121 2041,977 1233,307 2145,786 1881,197 5132,049 l/ After deducting $26,000 participations of other Federa lReserve 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 ON SEPTEMBER 19, 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 24,008,401 1449,984 5,311,880 1687,840 2184,862 1690,591 1309,837 4638,356 1096,518 6lO,8ll 937,042 665,978 2424,702 Deposits: "Member bank-reserve accts.1 9,835,222 882,475 6,589,267 902,783 1490,104 820,314 826,477 3134,963 680,104 429,983 913,121 958,894 2206,737 U.S.Treasurer-general acct 477,201 27,011 106,565 35,921 2,207 24,821 30,483 73,077 42,385 4l,8o8 37,516 10,727 44,680 Foreign 756,944 46,339 1/238,980 59,045 69,508 37,370 31,391 103,141 27,654 18,685 27,654 27,654 69,523 Other . ^ 16&M& 3,956 97,231 2,077 ?T248^ 3,295 2,065 2,463 10,351 1,101 1,494. 637 36,518 y. ays Total deposits 21,23778^5 959,781 7,032,643 999,826 1569^7^ 885,800 890,416 3313,644 760,494 491,577 979,785 997,912 2357,458 Deferred avail. cash items 3,2927540 255,616 467,237 252,916 353r?43- 280,217 234,427 570,517 145,159 104,215 190,274 178,820 259,399 Other liabilities and \44»" accrued dividends 16,627 1,150 5,024 890 1,639 780 693 2,445 736 500 582 733 1,455 TOTAL LIABILITIES 48,555,371 2666,531 12,816,184 2941,472 4109,311 2857,388 2435,373 8524,962 2002,907 1207,103 2107,683 1843,443 5043,014 Capital paid in 233,236 12,341 74,897 16,607 22,295 10,211 9,601 29,728 8,146 5,289 8,758 10,531 24,832 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 183,263 12,893 39,760 12,735 16,913 12,357 10,397 25,657 10,108 6,674 9,161 9,064 17,544 TOTAL LIABILITIES AND -CAPITAL ACCOUNTS 49,509,435 2727,022 13,091,450 3015,013 4197,539 2908,472 2478,502 8657,121 2041,977 1233,307 2145,786 1881,197 5132,049 Contingent liability on acceptances purchased for foreign correspondents 22,626 1,402 2/6,949 1,787 2,104 1,131 950 3,122 837 566 837 837 2,104 Industrial loan commitments 6,505 1,273 1,131 48 2,528 850 675 FEDERAL RESERVE AGENTS' ACCOUNTS F. R.. note soutstanding 25,096,409 1529,552 5,586,834 1782,229 2304,634 1749,162 1364,452 4724,889 1142,678 621,348 970,516 709,119 2610,996 Collateral for F.R. notes: Gold certificates 12,319,000 350,000 4,470,000 700,000 815,000 515,000 510,000 2590,000 260,000 150,000 280,000 179,000 1500,000 Eligible paper 310,388 5,166 193,800 24,815 2,450 17,425 12,275 26,657 27,800 1 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 25,889,388 1555,166 5,863,800 1824,815 2315,000 1767,450 1410,00 04790,000 1252,425 652,275 1006,657 724,000 2727,800 l/ After deducting $517,948,000 participations of other Federal Reserve Banks. 2/ After deducting $15,677,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis