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 27 > 1951 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended September 26, Member bank reserves decreased $466 million. The principal changes reducing reserves were increases of $339 million in Treasury deposits with Federal Reserve Banks, $89 million in Other deposits with Federal Reserve Banks, and $12 million in Foreign deposits with Federal Reserve Banks, and a decrease of $106 million in Reserve Bank credit. The principal offsetting change was an increase of $79 million in Gold stock. The decrease of $106 million in Reserve Bank credit resulted from decreases of $301 million in Float and $143 million in Loans, discounts and advances, and an increase of $339 million in U. S. Government securities. Holdings of U. S. Government securities reflected increases of $199 millio nin bills, $78 million in certificates, and $62 million in notes. Change since Member Bank Reserves Sept. 26, Sept. 19, Sept. 27, and Related Items 1951 1951 1950 (in millions of dollars) Reserve Bank credit: U. S. Government securities 23,474 +339 +4,121 Loans, discounts and advances 221 -143 + 98 Float 983 -301* + 384 Total 24,677 -106* +4,602 Gold stock 22,013 + 79 -1,461 Treasury currency outstanding 4,676 + 2 + 62 Money in circulation 28,137 - 3 +1,077 Treasury cash holdings 1,288 + 3 - 19 Treasury deposits with F. R. Banks 816 +339 - 328 Foreign deposits with F. R. Banks 769 + 12 - i4l Other deposits with F. R. Banks 255 + 89* - 25 Other F. R. account s(net) 731 + 1 - 31 Member bank reserves 19,369 -466 +2,670 Required reserves (estimated) 18,807 + 21 +2,970 Excess reserves (estimated) 562 -487 - 300 Daily average excess reserves (estimated) 715 -214 + 112 * September 19 figures revised. 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 26, September 19, September 27 1951 1951 1950 A S S E TS Gold certificates 20,100,982 + 77,903 -1,609,848 Redemption fund for F. R. notes 674,004 240 + 149,379 - Total gold certificate reserves 20,774,586 4" 77,663 -1,460,469 Other cash 327,838 365 + 92,290 - Discounts and advances 215,629 143,373 + 95,138 Industrial loans 44,,889944 - 102 + 2,721 U. S. Government securities: Bills 825,222 + 199,800 - 554,032 Certificates 4,926,225 77,650 - 27,245 Notes 11,900,165 + 61,700 +2,653,167 Bonds 5,822,102 +2,048,727 — —— Total U. S. Government securities 23,473,714 + 339,150 +4,120,617 Total loans and securities 23,694,237 + 195,675 +4,218,476 Due from foreign banks 38 + 14 F. R. notes of other banks 171,990 + 5,554 + 19,846 Uncollected cash items 3,731,353 - 847,686 + 460,599 Bank premises 42,4oo 56 + 6,205 Other assets 204,809 4- 7,031 + 85,736 TOTAL ASSETS 48,947,251 562,184 +3,422,697 - L I A B I L I T I ES Federal Reserve notes 2244,,001111,,003355 + 2,634 +1,109,276 Deposits: Member bank—reserve accounts 19,369,241 - 465,981 ++22,,667700,,114488 U. S. Treasurer--general account 816,212 + 339,011 - 328,065 Foreign 769,257 -f 12,313 - 140,510 Other 254,729 + 88,748* - 25,243 Total deposits 21,209,439 25,909* +2,176,330 - Deferred availability cash items 2,748,346 546,649* + 76,426 - Other liabilities and accrued dividends 18,743 + 2,116 + 8,347 TOTAL LIABILITIES 47,987,563 567,808 +3,370,379 - C A P I T AL A C C O U N TS Capital paid in 233,311 + 75 + 12,530 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 ****** Other capital accounts 188,812 + 5,549 + 17,939 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,947,251 562,184 +3,422,697 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9$ + ..22ffoo 7.1 % Contingent liability on acceptances purchased for foreign correspondents 21,164 1,462 22,,228844 - Industrial loan commitments 6,565 + 60 + 4,007 *gept. 19 figures revised MATURITY DISTRIBUTION OF LOANS AND SECURTTrp TI J, SEPTEMBER 26, 1951 (Callable Government securities clas fied according ^c nearest call date) Discounts and Industrial U. S. Government aavaa.ee s loans securities Within 15 days 205,806 75S 338,335 16 to 90 days 9,623 159 7,833,979 91 days to 1 year 2,958 6,260,750 Over 1 year to 5 years 1,019 4,896,456 Over 5 years to 10 years 1,013,614 Over 10 years 3,110,580 Digitized for FTRoAtSEaRl 215,629 4,894 23,473,714 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 26, 195I H.4.1(b) (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 20,100,582 6l8,092 6,516,768 114-9,116 1519,792 915,562 830,744 4146,900 532,686 302,625 697,363 505,786 2365,148 Redemption fund for F. R. notes 674,004 59,341 63,632 54,944 75,346 65,223 47,451 109,895 45,845 24,227 35,638 28,088 64,374 reserves 20,774,586 677,433 6,580,400 1204,060 1595,138 980,785 878,195 4256,795 578,531 326,852 733,001 533,874 2429,522 Other cash 327,838 23,604 69,600 19,584 24,019 18,683 22,109 60,321 15,348 8,153 13,741 17,197 35,479 Discounts and advances 215,629 8,531 31,215 27,090 17,335 8,050 2,098 18,050 18,195 26,525 20,190 100 38,250 Industrial loans 4,894 - - - 23 3,495 296 346 349. - —- 144 - — - 77 164 U. S. Govt. securities: Bills 825,222 19,848 318,489 46,512 69,051 49,153 39,887 120,454 10,745 8,260 34,8o6 35,373 72,644 Certificates 4,926,225 348,594 1,113,213 309,014 458,757 326,563 265,005 732,535 267,755 155,912 231,239 235,012 482,626 Notes 11,900,165 844,662 2,661,032 748,758 1111,595 791,277 642,121 1774,969 648,785 377,782 560,308 569,447 1169,429 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 23,473,714 1626,351 5,394,632 1470,611 2183,245 1554,122 1261,168 3496,353 1244,700 726,783 1100,481 1118,431 2296,837 Total loans and securities 23,694,237 1634,882 5,425,870 1501,196 2200,876 1562,518 1263,615 3514,403 1262,895 753,452 1120,671 1118,608 2335,251 Due from foreign banks 38 2 1/ 12 3 4 2 2 5 1 l 1 1 4 F.R.notes of other banks 171.990 7,659 24,922 9,117 7,123 29,752 11,210 17,113 9,699 12,283 10,294 8,907 23,911 Uncollected cash items 3,731,353 286,158 679,538 204,020 317,296 313,748 224,485 680,842 158,736 114,915 199,115 175,297 377,203 Bank premises 42,400 1,031 7,554 2,871 4,689 3,664 2,554 6,202 3,348 1,093 2,496 655 6,243 Other assets 204,809 15,198 45,232 12,673 19,398 13,695 11,225 30,328 10,889 6,382 9,813 9,676 20,300 TOTAL ASSETS 48,947,251 2645,967 12,833,128 2953,524 4168,543 2922,847 2413,395 8566,009 2039,447 1223,131 2089,132 1864,215 5227,913 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 26, 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 24,011,035 1449,707 5,315,035 1689,895 2185,470 1702,758 1306,903 4632,167 1092,936 611,428 934,172 662,616 2427,948 Deposits: Member bank-reserve accts. 19,369,241 798,947 6,237,174 912,410 1476,889 806,057 801,104 3104,580 688,300 443,480 897,898 920,096 2282,306 U.S.Treasurer-general acct. 816,212 39,652 151,030 44,316 94,424 55,158 44,675 139,130 56,569 32,495 34,813 60,415 63,535 Foreign 769,257 47,405 1/239,375 60,403 71,108 38,230 32,113 105,515 28,290 19,115 28,290 28,290 71,123 Other 254,729 3,834 192,246 1,337 3,169 2,905 1,673 1,979 9,187 1,357 283 830 35,929 Total deposits 21,209,439 889,838 6,819,825 1018,466 1645,590 902,350 879,565 3351,204 782,346 496,447 961,284 1009,631 2452,893 Deferred avail, cash items 2,748,346 244,448 415,369 170,390 246,966 265,384 182,712 447,227 123,997 88,292 154,575 153,123 255,863 Other liabilities and accrued dividends 18,743 1,157 6,459 878 1,756 883 783 2,411 775 585 646 812 1,598 TOTAL LIABILITIES 47,987,563 2585,150 12,556,688 2879,629 4079,782 2871,375 2369,963 8433,009 2000,054 1196,752 2050,677 1826,182 5138,302 Capital paid in 233,311 12,341 74,901 16,607 22,296 10,222 9,604 29,741 8,168 5,294 8,768 10,537 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 188,812 13,219 40,930 13,089 17,445 12,734 10,697 26,485 10,409 6,844 9,503 9,337 18,120 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,947,251 2645,967 12,833,128 2953,524 4168,543 2922,847 2413,395 8566,009 2039,447 1223,131 2089,132 1864,215 5227,913 Contingent liability on acceptances purchased for foreign correspondents 21,164 1,312 2/6,498 1,672 1,968 1,058 889 2,921 783 529 783 783 1,968 Industrial loan commitments 6,565 - -- — 1,343 1,121 48 2,528 850 675 FEDERAL RESERVE AGENTS' ACCOUNTS i*.. R. note soutstanding 25,059,530 1518,083 5,587,643 1774,993 2292,856 1744,193 1365,557 4727,961 1151,262 622,206 967,991 707,464 2599,321 Collateral for F.R. notes: Gold certificates 12,319,000 350,000 4,470,000 700,000 8158,01050,000 551155,,000000 510,000 2590,000 260,000 150,000 280,000 179,000 1500,000 Eligible paper 170,546 8,531 24,215 27,090 — 7,550 18,195 26,525 20,190 38,250 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 25,749,546 1558,531 5,694,215 1827,090 2315,000 1772,550 1410,000 4790,000 1253,195 666,525 1000,190 724,000 2738,250 l/ After deducting $529,868,000 participations of other Federal Reserve Banks. 2/ After deducting $14,666,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis