H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) October 4, 1951 CONDITION OF THE FEDERAL RESERVE BAMS Member Bank Reserves and Related Items During the week ended October 3, Member bank reserves increased $635 million. The principal changes supplying reserves were decreases of $419 million in Treasury deposits with Federal Reserve Banks, $44 million in Foreign deposits with Federal Reserve Banks, and $14 million in Other deposits with Federal Reserve Banks, and an increase of $353 million in Reserve Bank credit. The principal offsetting changes were increases of $183 million in Money in circulation and $22 million in Other F. R. accounts (net). The increase of $353 million in Reserve Bank credit resulted from an increase of $565 million in U. S. Government securities, and decreases of $147 million in Loans, discounts and advances and $66 million in Float. Holdings of U. S. Government securities reflected increases of $310 million in notes, $185 million in certificates, $67 million in bills, and $3 million in bonds. Change since Member Bank Reserves Oct. 3, Sept. 26, Oct. 4, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U, S» Government securities 24,039 +565 +4,664 Loans, discounts and advances 74 -147 + 27 Float 917 - 66 + 367 Total 25,030 +353 +5,058 Gold stock 22,015 + 2 -1,467 Treasury currency outstanding 4,680 + 4 + 63 Money in circulation 28,320 +183 +1,132 Treasury cash holdings 1,284 - 4 24 Treasury deposits with F. R, Banks 397 -419 - 451 Foreign deposits with F» R. Banks 725 - 44 - 262 Other deposits with F. R. Banks 241 - 14 60 Other F. R. accounts (net) 753 + 22 60 Member "bank reserves 20,004 +635 +3,378 Required reserves (estimated) 18,829 + 22 +2,981 Excess reserves (estimated) 1,175 +613 + 397 Daily average excess reserves (estimated) 770 + 55 - 87 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since October 3, September 26, October 4, 1951 1951 1950 A S S E TS Gold certificates 20,110,680 + 10,098 -1,628,748 Redemption fund for F, R. notes 670,907 - 3,097 + 145,377 Total gold certificate reserves 20,781,587 + 7,001 -1,483,371 Other cash 310,047 - 17,791 + 96,064 Discounts and advances 68,722 146,907 + 24,440 Industrial loans 5,188 294 + 2,961 U. S. Government securities: Bills 892,072 + 66,850 - 464,282 Certificates 5,111,525 + 185,300 +5,041,275 Notes 12,210,065 + 309,900 -1,913,753 Bonds 5,825,227 + 3,125 +2,000,752 Total U. S. Government securities 24,038,889 + 565,175 +4,663,992 Total loans and securities 24,112,799 + 418,562 +4,691,393 Due from foreign banks 38 — —— + 14 F. R. notes of other banks 155,161 - 16,829 + 18,755 Uncollected cash items 3,418,667 - 312,686 + 308,259 Bank premises 42,501 + 101 + 6,357 Other assets 186,929 - 17,880 + 116,690 TOTAL ASSETS 49,007,729 + 60,478 +3,754,161 L I A B I L I T I ES Federal Reserve notes 24,155,945 + 144,910 +1,144,253 Deposits: Member bank--reserve accounts 20,003,662 + 634,421 +3,377,838 U. S. Treasurer--general account 397,179 - 419,033 - 451,250 Foreign 725,138 - 44,119 - 262,121 Other 241,189 - 13,540 - 59,915 Total deposits 21,367,168 + 157,729 +2,604,552 Deferred availability cash items 2,501,930 - 246,416 - 58,375 Other liabilities and accrued dividends 16,470 - 2,273 + 8,126 TOTAL LIABILITIES 48,041,513 + 53,950 +3,698,556 C A P I T AL A C C O U N TS Capital paid in 233,528 + 217 + 12,738 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 195,123 + 6,311 + 21,018 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,007,729 + 60,478 +3,754,161 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7$ - -2$ - 7.6$ Contingent liability on acceptances purchased for foreign correspondents 21,020 - 144 - 1,563 Industrial loan commitments 6,871 + 306 + 5,331 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 3, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 58,715 548 4,696,985 16 to 90 days 10,007 1,960 3,837,079 91 days to 1 year 2,395 6,481,050 Over 1 year to 5 years 285 4,896,456 1,013,614 Over 5 years to 10 years 3.113,705 Over 10 years 68,722 5,188 24,038,889 Digitized for FRTAoStEaRl http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 3, 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 20,110,680 687,598 6,586,046 1111,988 1417,350 916,234 867,998 4082,334 520,752 298,721 714,671 506,398 2400,590 Redemption fund for F. R. notes 670,907 59,160 62,965 54,633 75,112 63,960 47,275 109,895 45,776 24,206 35,585 28,088 64,252 Total gold certificate reserves 20,781,587 746,758 6,649,011 1166,621 1492,462 980,194 915,273 4192,229 566,528 322,927 750,256 534,486 2464,842 Other cash 310,047 22,927 65,107 18,712 21,107 17,159 21,978 59,105 13,793 8,438 12,602 16,272 32,847 Discounts and advances 68,722 2,675 18,815 4,145 965 4,625 3,243 8,575 16,705 775 6,649 1,550 Industrial loans 5,188 23 3,781 296 336 380 142 77 153 U. S. Govt, securities: Bills 892,072 10,389 262,309 56,129 83,328 59,317 48,135 149,429 44,037 6,646 42,002 42,687 87,664 Certificates 5,111,525 362,811 1,143,003 321,617 477,468 339,881 275,813 762,409 278,675 162,270 240,671 244,597 502,310 Notes 12,210,065 866,657 2,730,330 768,258 1140,543 811,883 658,843 1821,192 665,680 387,621 574,899 584,276 1199,883 Bonds 5,825,227 413,469 1,302,596 366,523 544,134 387,337 314,323 868,862 317,586 184,928 274,275 278,749 572,445 Total U. S. Government securities 24,038,889 1653,326 5,438,238 1512,527 2245,473 1598,418 1297,114 3601,892 1305,978 741,465 1131,847 1150,309 2362,302 Total loans and ~~ __________ securities 24,112,799 1656,001 5,457,076 1520,453 2246,734 1603,379 1300,737 3610,467 1322,683 742,382 1138,496 1150,386 2364,005 Due from foreign banks 38 2 l/l2 3 4 2 2 5 1 1 1 14 F.R.notes of other banks 155,l6l 5,694 21/741 6,468 7,438 28,907 12,127 17,611 7,765 11,971 8,468 8,698 18,273 Uncollected cash items 3,418,667 299,954 603,263 206,650 299,801 273,452 215,486 607,092 156,830 110,652 201,015 125,488 318,984 Bank premises 42,501 1,031 7,536 2,871 4,688 3,825 2,554 6,201 3,328 1,091 2,480 653 6,243 Other assets 186,929 13,879 41,699 11,650 17,852 12,473 10,204 27,406 9,863 5,796 8,941 8,713 18,453 TOTAL ASSETS 49,007,729 2746,246 12,845,445 2933,428 4090,086 2919,391 2478,361 8520,116 2080,791 1203,258 2122,259 1844,697 5223,651 l/ 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 ON OCTOBER 3, 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 24,155,945 1456,345 5,336,497 1689,553 2185,112 1720,558 1330,524 4642,356 1107,034 615,092 945,893 674,081 2452,900 Deposits: Member tank-reserve accts. 20,003,662 913,872 6,407,915 934,348 1492,627 853,306 861,754 3170,137 707,547 443,210 931,683 956,200 2331,063 U.S.Treasurer-general acct. 397,179 32,938 65,616 17,225 16,144 27,582 36,067 54,836 68,157 16,199 22,020 25,502 14,893 Foreign 725,138 44,305 1/229,906 56,453 66,458 35,730 30,013 98,615 26,440 17,865 26,440 26,440 66,473. Other 241,189 4,020 169,038 1,370 5,374 3,383 1,386 1,600 9.144 1,963 1,140 858 41,913 Total deposits 21,367,168 995,135 6,872,475 1009,396 1580,603 920,001 929,220 3325,188 811,288 479,237 981,283 1009,000 2454,342 Deferred avail, cash items 2,501,930 232,389 353,516 159,189 233,183 226,104 174,135 416,232 122,022 81,882 155,863 122,637 224,778 Other liabilities and accrued dividends 16,470 1,101 4.669 925 l,86l 801 730 2,437 710 506 633 657 1,440 TOTAL LIABILITIES 48,041,513 2684,970 12,567,157 2859,063 4000,759 2867,464 2434,609 8386,213 2041,054 1176,717 2083,672 1806,375 5133,460 Capital paid in 233,528 12,341 74,901 16,681 22,320 10,276 9,607 29,765 8,191 5,302 8,768 10,540 24,836 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 #$her capital accounts 195,123 13,678 42,778 13,485 17,987 13,135 11,014 27,364 10,730 6.998 9,635 9,623 18,696 . LIABILITIES AND CAPITAL ACCOUNTS 49,007,729 2746,246 12,845,445 2933,428 4090,086 2919,391 2478,361 8520,116 2080,791 1203,258 2122,259 1844,697 5223,651 Contingent liability on -acceptances purchased for foreign correspondents 21,020 1,304 2/6,448 1,661 1,955 1,052 883 2,902 778 526 778 778 1,955 Industrial loan commitments 6,871 1,655 1,121 48 2,527 845 675. FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,058,864 1501,110 5,581,285 1770,488 2282,304 1768,800 1372,924 4725,368 1147,065 623,982 971,131 713,448 2600,959 Collateral for F.R. notes: Gold certificates 12,349,000 350,000 4,470,000 700,000 815,000 535,000 510,000 2590,000 260,000 150,000 280,000 189,000 1500.000 Eligible paper 55,3l4 2,675 18,815 4,l45 — 4,000 — — 16,705 775 6,649 — 1 550 U. S. Govt, securities 1.3,285,000 1200,000 1,200,000 1100,000 1500,000 1275,000 900,000 2200,000 975,000 490.000 700,000 545,000 1200*000 Total collateral 25,089,314 1552,6755,688,815 1804,145 2315,000 1814,000 1410,000 4790,000 1251,705 640,775 986,649 734^000 2701^550 l/ After deducting $495,218,000 participations of other Federal Reserve Banks. 2/ After deducting $14,572,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis