H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM H 4,l (For Immediate Release) October 18, 1951 e CONDITION OF THE FEDERA LRESERVE BANKS Member Bank Reserves and Related Items During the week ended October 17# Member ban kreserves increased |129 million* The principal changes supplying reserves were increases of $92 million in Reserve Bank credit and $50 million in Gold stock ,and decreases of $63 millio nin Money in circulation and $62 million in Foreign deposits with Federal Reserve Banks« The principal offsetting changes were increases of $101 millio nin Other F *R* accounts (net) and $35 million in Other deposit swith Federal Reserve Banks* The increase of $92 million in Reserve Bank credit resulted from an increase of $3^5 millio nin Float, and decreases of $22U million in U» 8. Government securities and $10 million in Loans, discounts and advances * Holdings of U# 8* Government securities reflected an increase* of $7,738 millio nin certificates, and decreases of $7,268 million in notes* $500 million in bonds and $19U million in bills. t During the week, $500 million of 2-3/U per cent Treasur yBonds, Investment Series B, 1975^80, wer eexchanged for 1-1/2 per cent Treasury notes due October 1, 1956* Change since Member Bank Reserves Oct. 11, Oct. 10, Oct. Its, and Related Items 1951 1951 1950 . (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,818 -22U +4,342 Loans, discounts and advances 7U - 10 + 33 Float 1,195 +325 + 316 Total 25,H7 + 92 +4,691 Gold stock 22,105 + 50 -1,186 Treasury currency outstanding 4,681 + 1 + 64 Money in circulation 28,385 - 63 +1,157 Treasury cash holdings 1,296 + 10 - 17 Treasury deposits with F. R. Banks 326 - 9 - 123 Foreign deposits with F. R. Banks 705 - 62 - 311 Other deposits with F. R. Banks 270 + 35 - 6 Other F. R. account s(net) 851 +101 + 44 Member bank reserves 20,068 +129 +2,823 Required reserves (estimated) 18,869 + 38 +2,874 Excess reserves (estimated) 1,199 + 91 - 51 Daily average excess reserves (estimated) 1,030 -121 - 32 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 October 17, October 10, October 18, 1951 1951 . . 1950 A S S E TS Gold certificates 20,196,682 + 48,001 - 1,356,749 Redemption fund for F. R, notes 669,772 + 29 + 144,359 Total gold certificates reserves 20,866,454 + 48,030 - 1,212,390 Other cash 303,155 -t- 10,908 + 86,269 Discounts and advances 69,363 9,728 + 30,985 Industrial loans 4,658 - 292 + 2,411 U. S. Government securities: Bills 606,195 193,835 558822,,111144 - - Certificates 12,848,308 +7, 737,810 +12,775,358 Notes 5,068,073 -7, 267,810 - 9,198,045 Bonds 5,325,227 - 500,000 + 1,346,752 Total U. S. Government securities 23,847,803 223,835 + 4,341,951 - Total loans and securities 23,921,824 233,855 + 4,375,347 Due from foreign banks 33 - 5 + 9 F, R. notes of other banks 160,189 + 16,180 + 18,927 Uncollected cash items 4,635,699 +1,, 312,232 + 613,766 Bank premises 42,796 + 72 + 6,211 Other assets 101,136 - 95,316 + 16,879 TOTAL ASSETS 50,031,286 +1,, 058,246 + 3,905,018 L I A B I L I T I ES Federal Reserve notes 24,225,684 27,929 + 1,155,741 - Deposits: Member bank--reserve accounts 20,068,457 + 129,479 + 22,,882233,,008844 U, S. Treasurer--general account 325,640 8,865 122,897 - - Foreign 705,435 - 62,013 - 310,327 Other 270,017 + 34,838 - 6,349 Total deposits 21,369,549 + 93,439 + 2,383,511 Deferred availability cash items 3,440,676 + 986,840 + 298,080 Other liabilities and accrued dividends 16,770 - 4o8 + 7,139 TOTAL LIABILITIES 49,052,679 +ij, 051,942 + 3,844,471 C A P I T AL A C C O U N TS Capital paid in 233,762 + 122 + 12,730 Surplus (Section 7) 510,022 + 21,849 - - Surplus (Section 13b) 27,543 — - - Other capital accounts 207,280 + 6,182 + 25,968 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,031,286 +1, 0 1JX 00 £ O + 3,905,018 Ratio of gold certificate reserves to deposit and F, R, note liabilities combined 45.856 -f .1$ 6.7$ - Contingent liability on acceptances purchased for foreign correspondents 20,102 22,,004433 22,,998833 - - Industrial loan commitments 7,053 + 195 + 5,583 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 17, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 6l,2l6 586 119,620 16 to 90 days 8,057 662 486,575 91 days to 1 year 90 2,275 14,217,833 Over 1 year to 5 years -- 1,135 5,396,456 Over 5 years to 10 years -- -- 1,013,614 Over 10 years -- -- 2,613,705 Total 69,363 4,656 23,847,803 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 17, 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. 20,196,682 6,591,537 1107,809 1439#032 929,827 861,937 4057,463 518,173 296,755 744,023 501,880 2477>596 Gold certificates 670,650 for 58.880 52.03? 54.198 74,783 66.098 >>7,053109.371 *5.683 24.168 35,510 27,95? @*,034 certlflcate ^ 729,530 6,653,574 1162,007 1513,815 995,925 908,990 4166,834 563,856 320,923 779,533 529,837 2541,630 303,155 21,682 63,976 18,084 18,790 17,517 22,592 57,942 13,485 7,880 12,380 33,042 other cash 15,785 69,363 3,117 7,520 2,020 1,000 1,295 35,350 2,570 8,531 —— Discounts and advances 6,085 1,875 4,658 — 23 3,709 163 106 405 141 — 63 48 industrial loans linT*" BeCUrltleS: 606,195 867 180,585 38,142 56,624 40,308 32,710 106,789 33,049 — 28,542 29,008 59,571 oertmcates 12^8 2 637 608,416 g 854,323 1916,390 700,477 4^,294 604,950 308 911,960 873 1200 6^3,282 61,16 1262,603 5,325'227 377.979 1.191,035 335.063 497,430 354,090 287,344 794,284 290,326 168.810 250,733 254,823 523,310 Bonds T°securitiesG°Vernme 23,847,803 1650,533 5,378,777 1500,504 2227,623 1585,712 1286,8o4 3573,391 1300,158 736,762 1122,850 1141,165 2343,524 T°8ecuritie8~^ 23,921,824 1653,650 5,384,885 1511,733 2229,806 1586,818 1288,504 3608,?4l 1302,728 738,778 1131,381 1141,228 2343,572 9,J 7,211 T,*» 7,?«^ 27,^ ^ ^ ^ ^ uki 4,635,699 359,863 941,003 275,969 388,884 372,608 295,508 791,963 192,666 139,119 260,555 212,242 405,319 Uncollected cash items 42,796 1,031 7,687 2,870 4,684 3,825 2,645 6,264 3,328 1,091 2,480 653 6,238 Bank premises Other assets 101.136 7.984 22,490 6,208 9,634 6,622 5,675 14,671 5,143 3,015 4,915 4^64 10,015 13,100,795 4173,316 2198,991 1913,918 TOTAL ASSETS 50,031,286 2780,953 2983,977 3011,265 2534,850 8662,207 2090,140 1220,355 5360,519 l/ After deducting $23,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

[.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 1?, 1951 (In thousands of dollars) I A B I L I T I ES Total Boston Nev York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 'ederal Reserve notes 24,225,684 1463,681 5,329,784 1696,825 2195,124 1740,020 1327,403 4652,565 1118,003 617,843 946,223 674,589 2463,624 Deposits; Member bank-reserve accts. 20,068,457 878,087 6,418,678 924,934 1502,027 860,895 867,770 3165,260 707,771 428,077 964,849 977,872 2372,237 U.S.Treasurer-general acct. 325,640 16,357 39,520 9,804 24,514 25,502 27,866 4l,6o4 41,022 21,066 21,095 16,433 40,857 Foreign 705,435 42,774 1/227,319 54,502 64,161 34,495 28,976 95,206 25,526 17,248 25,526 25,526 64,176 Other 3,866 4l6 Total deposits 21,369,549 941,084 6,888,251 991,176 1595,753 923,543 927,356 3304,668 783,054 468,104 1011,886 1021,101 2513,573 Deferred avail, cash items 3,440,676 312,772 596,722 219,906 290,201 294,201 234,963 566,810 147,917 107,081 201,058 178,603 290,442 )ther liabilities and accrued dividends 16,770 1,253 5,035 938 1,735 772 725 2,460 693 448 624 720 1,367 TOTAL LIABILITIES 49,052,679 2718,790 12,819,792 2908,845 4082,813 2958,536 2490,447 8526,503 2049,667 1193,476 2159,791 1875,013 5269,006 Capital paid in 233,762 12,348 74,905 16,682 22,378 10,286 9,631 29,786 8,255 5,303 8,808 10,543 24,837 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 Dther capital accounts 207,280 14,558 45,489 14,251 19,105 13,927 ll,64l 29,144 11,402 7,335 10,208 10,203 20,017 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,031,286 2780,953 13,100,795 2983,977 4173,316 3011,265 2534,850 8662,207 2090,140 1220,355 2198,991 1913,918 5360,519 Contingent liability on acceptances purchased for foreign correspondents 20,102 1,244 2/6,195 1,585 1,866 1,003 843 2,769 743 502 743 743 1,866 Industrial loan commitments 7,053 1,726 1,254 48 2,515 845 665 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,121,155 1505,859 5,579,401 1763,635 2282,622 1789,584 1375,995 4741,193 115^97 628,786 975,805 719,009 2603,769 Collateral for F.R. notes: Gold certificates 12,449,000 350,000 4,470,000 700,000 815,000 553355,,000000 510,000 2590,000 260,000 150,000 280,000 189,000 1600,000 Eligible paper 30,398 3,117 6,085 7,520 700 2,570 1,875 8,531 U. S. Govt, securities 13,335,000 1200,000 1,200,000 1100,000 1500,000 1275,000 900,000 2200,000 975,000 490,000 750,000 545,000 1200,000 Total collateral 25,814,398 1553,117 5,676,085 1807,520 2315,000 1810,70 01410,000 4790,000 1237,570 641,875 1038,531 734,000 2800,000 l/ After deducting $478,101,000 participations of other Federal Reserve Banks. 2j After deducting $13,907,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis