H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I (For Immediate Release) November 1, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended October 31* Member bank reserves decreased $276 million. The principal changes reducing reserves were a decrease of $4l4 million in Reserve Bank credit and increases of $109 million in Money in circulation and $31 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $99 million in Foreign deposits with Federal Reserve Banks, $70 million in Other F. R. accounts (net), and $l6 million in Treasury deposits with Federal Reserve Banks and an increase of $90 million in Gold stock. The decrease of $4l4 million in Reserve Bank credit resulted from decreases of $334 million in Float and $114 million in U. S. Government securities and an increase of $34 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected a decrease of $114 million in bills. Change since Member Bank Reserves Oct. 31, Oct. 24, Nov. 1, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,552 -114 +4,261 Loans, discounts and advances 190 + 34 + 77 Float 685 -334 + 229 Total 24,427 2 -4i4 +4,567 Gold stock 22,234- . + 90 -1,015 Treasury currency outstanding 4,686- * + 3 + 64 Money in circulation 28,4i©" 7 +109 +1,191 Treasury cash holdings 1,288"-^ - 3 - 16 Treasury deposits with F. R. Banks 493 - 16 + 41 Foreign deposits with F. R. Banks 556 - 99 - 454 Other deposits with F. R. Banks 262 + 31 - 63 Other F. R. accounts (net) 780 - 70 + 32 Member bank reserves 19,557 -276 +2,883 Required reserves (estimated) 18,992 - 86 +3,045 Excess reserves (estimated) 565 -190 - 162 Daily average excess reserves (estimated) 635 -461 + 83 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 31, October 24, November 1, 1951 1951 1950 A S S E TS Gold certificates 20,335,681 + 90,000 1,174,750 Redemption fund for F. R, notes 668,256 34 + 133,839 • Total gold certificate reserves 21,003,937 + 89,966 - 1,040,911 Other cash 313,677 - 4,029 + 79,942 Discounts and advances 185.575 + 33,698 Hh 74,691 Industrial loans 4,392 - 157 + 2,171 U. S. Government securities: Bills 310,445 - 113,850 - 472,219 Certificates 12,848,308 +12,776,358 — •» — Notes 5,068,073 — — — - 9,169,745 Bonds 5,325,227 — — — + 1,127,152 Total U. S. Government securities 23,552,053 113,850 + 4,261,546 - Total loans and securities 23,742,020 - 80,309 + 4,338,408 Due from foreign banks 33 — — — + 9 F, R. notes of other banks 164,207 - 8,246 + 25,352 Uncollected cash items 3,354,872 ~ 338,626 + 223,528 Bank premises 42,899 65 + 6,075 • Other assets 118.576 + 9,260 + 19,105 TOTAL ASSETS 48,740,221 332,049 + 3,651,508 - L I A B I L I T I ES Federal Reserve notes 24,260,606 + 91,898 + 1,191,950 Deposits: Member bank'—reserve accounts 19,556,991 275,568 + 2,882,727 U. S. Treasurer—general account 492,712 - 16,582 + 41,138 Foreign 556,277 - 98,371 - 453,410 Other 262,353 + 31,575 - 62,460 Total deposits 20,868.333 - 358,946 + 2,407,995 Deferred availability cash items 2,669,5^3 - 4,920 - 5,326 Other liabilities and accrued dividends 16,066 165 + + 7,363 TOTAL LIABILITIES 47,814,548 - 271,803 + 3,601,982 C A P I T AL A C C O U N TS Capital paid in 621 234,990 + + 13,519 Surplus (Section 7) 510,022 + 21,849 - -- Surplus (Section 13b) 27,543 Other capital accounts 153,118 60,867 + 14,158 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,740,221 332,049 + 3,651,508 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.5% + .4 i> - 6.6% Contingent liability on acceptances purchased for foreign correspondents 16,705 1,671 — 7,394 Industrial loan commitments 7,152 - 14 + 4,111 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 31, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 157,608 129,475 492 16 to 90 days 180,970 27,464 949 91 days to 1 year 503 1,750 14,217,833 Oxer 1 year to 5 years 1,201 5,396,456 Over 5 years to 10 years 1,013,614 Over 10 years 2,613,705 Digitized for FR T A o SE ta R l 185,575 4,392 23,552,053 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 31, 1951 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 20,335,681 612,489 6,582,099 1127,572 1469,36o 969,660 894,496 4175,967 569,290 322,604 715,944 520,225 2375,975 ^ R ^ o t e r "14 f°r 668,256 58,749 61,607 53,976 74,623 65,241 46,935 109,000 46,637 24,147 35,474 27,914 63,953 Total gold certificate reserves 21,003,937 671,238 6,643,706 1181,548 1543,983 1034,901 941,431 4284,967 615,927 346,751 751,4l8 548,139 2439,928 Other cash 313,677 22,154 67,646 17,187 19,498 18,119 24,194 57,6l4 15,378 8,498 11,682 16,997 34,710 Discounts and advances 185,575 9,586 24,675 6,775 3,150 13,400 2,034 31,600 7,250 2,025 17,780 . 2,370 64,930 Industrial loans 4,392 — 23 3,588 13 100 429 — — 140 — 51 48 U. S. Govt, securities: Bills 310,445 19,842 70,515 19,533 28,998 20,643 16,751 47,402 16,925 9,856 14,617 14,856 30,507 Certificates 12,848,308 911,960 2,873,049 8o8,4l6 1200,160 854,323 693,282 1916,390 700,477 407,882 604,950 6i4,8l6 1262,603 Notes 5,068,073 359,727 1,133,287 318,883 473,409 336,991 273,468 755,928 276,306 160,891 238,625 242,518 498,040 Bonds 5,325,227 377,979 1,190,790 335,063 497,430 354,090 287,344 794,284 290,326 169,055 250,733 254,823 523,310 Total U. S. Government securities" 23,552,053 1669,508 5,267,641 1481,895 2199,997 1566,047 1270,845 3514,004 1284,034 747,684 1108,925 1127,013 2314,46o Total loans and - securities' 23,742,020 1679,094 5,292,339 1492,258 2203,160 1579,547 1273,308 3545,604 1291,284 749,849 1126,705 1129,434 2379,438 Due from foreign banks 33 2 l/ 10 3 3 2 1 5 1 1 1 1 3 F.R.notes of other banks 164,207 6,734 23,464 7,281 8,855 35,130 10,4l4 18,885 7,854 10,952 6,835 9,530 18,273 Uncollected cash items 3,354,872 262,809 619,432 205,902 312,928 282,006 202,719 548,04l 159,777 113,095 210,501 142,422 295,240 Bank premises 42,899 1,027 7,670 2,865 4,675 4,022 2,642 6,238 3,306 1,088 2,480 654 6,232 Other assets 118,576 9,056 25,837 7,439 11,649 7,768 6,559 17,540 6,110 3,6l6 5,623 5,448 11,931 TOTAL ASSETS 48,740,221 2652,114 12,680,104 2914,483 4104,751 2961,495 2461,268 8478,894 2099,637 1233,850 2115,245 1852,625 5185,755 l/ After deducting $23,000 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 31, 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.Ltiuis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 2k,260,606 1457,841 5,323,902 1695,309 2192,810 1753,369 1343,677 4650,754 1130,792 620,058 950,441 683,823 2457,830 Deposits: Member bank-reserve accts. 19,556,991 818,256 6,177,125 909,021 1485,798 850,915 858,032 3112,350 725,917 457,519 912,090 959,267 2290,701 U.S.Treasurer-general acct. 4-92,712 41,854 88,248 30,308 37,585 46,604 29,127 65,450 43,826 30,000 31,554 22,883 25,273 Foreign 556,277 34,100 3/175,112 43,450 51,150 27,500 23,100 75,900 20,350 13,750 20,350 20,350 51,165 Other 262,353 3,900 195,625 1,837 5,198 2,439 1,778 1,537 9,666 1,525 311 1,214 37,323 Total deposits 20,868,333 898,110 6,636,110 984,616 1579,731 927,458 912,037 3255,237 799,759 502,794 964,305 1003,714 2404,462 Deferred avail, cash items 2,669,543 235,620 447,504 161,807 244,727 230,666 163,284 442,632 130,796 85,274 163,137 128,001 236,095 Other liabilities and accrued dividends 16,066 1,226 3,857 1,020 1,906 819 730 2,507 751 536 678 624 1,412 TOTAL LIABILITIES 47,814,548 2592,797 12,411,373 2842,752 4019,174 2912,312 2419,728 8351,130 2062,098 1208,662 2078,561 1816,162 5099,799 Capital paid in 234,990 13,248 75,060 16,686 22,367 10,309 9,642 29,808 8,272 5,303 8,809 10,637 24,849 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 153,118 10,812 33,062 10,846 14,190 10,358 8,767 21,182 8,451 5,644 7,691 7,667 14,448 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,740,221 2652,114 12,680,104 2914,483 4104,751 2961,495 2461,268 8478,894 2099,637 1233,850 2115,245 1852,625 5185,755 Contingent liability on acceptances purchased for foreign correspondents 16,705 1,046 2/5,012 1,333 1,569 844 709 2,329 624 422 624 624 1,569 Industrial loan commitments 7,152 — — 1,670 1,404 67 2,502 845 664 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,149,278 1506,216 5,573,978 1763,934 2277,511 1795,167 1397,292 4731,078 1174,267 630,178 979,178 724,133 2596,346 Collateral for F.R. notes: Gold certificates 12,474,000 350,000 4,470,000 700,000 815,000 550,000 510,000 2590,000 260,000 150,000 280,000 199,000 1600,000 Eligible paper 136,396 8,966 18,630 5,985 12,900 6,880 1,625 17,410 --- 64,000 U. S. Govt, securities 13,385,000 1200,000 1,200,000 1100,000 1500,000 1275,000 950,000 2200,000 975,000 490,000 750,000 545,000 1200,000 Total collateral 25,995,396 1558,966 5,688,630 1805,985 2315,000 1837,900 1460,000 4790,000 1241,880 641,625 1047,4l0 744,000 2864,000 l/ After deducting $381,150,000 participations of other Federal Reserve Banks. 2/ After deducting $11,693,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis