H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) November 15, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended November 14, Member bank reserves increased $183 million. The principal changes supplying reserves were decreases of . $207 million in Treasury deposits with Federal Reserve Banks, $54 million in Other deposits with Federal Reserve Banks, and $7 million in Treasury cash holdings, and an increase of $7 million in Reserve Bank credit. The principal offsetting changes were increases of $67 million in Money in circulation and $26 million.in Foreign deposits with Federal Reserve Banks. The increase of $7 million in Reserve Bank credit resulted from increases of $86 million in Float and $30 million in Loans, discounts and advances, and a decrease of $110 million in U. S. Government securities. The change in U. S. Government securities reflected decreases of $78 million in bills and $32 million in certificates. Change since Member Bank Reserves Nov. 14, Nov. 7> Nov. 15, and Related Items 1951 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities 23,397 -110 +3,972 Loans, discounts and advances 278 + 30 + 205 Float 926 + 86 + 254 Total 24,602 + 7 +4,431 Gold stopk 22,283 - 1 - 865 Treasury currency outstanding 4,688 + 2 + 67 Money in circulation 28,601 + 67 +1,305 Treasury cash holdings 1,284 - 7 20 Treasury deposits with F. R. Banks 245 -207 96 Foreign deposits with F. R. Banks 594 + 26 - 371 Other deposits with F. R. Banks 221 - 54 - 13 Other F. R. accounts (net) 776 - 2 + 31 Member bank reserves 19,850 +183 +2,796 Required reserves (estimated) 18,877 " 32 +2,833 Excess reserves (estimated) 973 +215 ~ 37 Daily average excess reserves (estimated) 892 +108 - 1 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 November 14, November 7, November 15, 1951 1951 1950 A S S E TS Gold certificates 20,382,181 + 1,001 * 1,005,248 Redemption fund for F. R. notes 675,483 + 5,866 + 143,386 Total gold certificate reserves 21,057,664 + 6,867 - 861,862 Other cash 295,395 - 11,801 + 54,277 Discounts and advances 274,260 + 30,976 + 203,231 Industrial loans 4,149 - 348 + 1,910 U. S. Government securities: Bills 191,345 77,600 783,301 Certificates 12,812,858 - 31,450 +12,740,908 Notes 5,068,073 — — — - 9,028,845 Bonds 5,325,227 • * — + 1,043,952 Total U, S. Government securities 23,397,503 109,050 + 3,972,714 - Total loans and securities 23,675,912 78,422 + 4,177,855 Due from foreign banks 33 — — + 9 F. R. notes of other banks 163,552 + 6,316 + 11,762 Uncollected cash items 4,333,991 + 980,697 + 243,204 Bank premises 43,055 + 169 + 5,663 Other assets 137,121 + 10,026 + 26,425 TOTAL ASSETS 49,706,723 + 913,852 + 3,657,333 L I A B I L I T I ES Federal Reserve notes 24,430,765 60,655 1,287,277 + + Deposits: Member bank—reserve accounts 19,850,300 183,638 2,796,507 + + U. S. Treasurer—general account 245,488 - 206,965 - 95,787 Foreign 594,296 + 26,526 - 370,674 Other 221,039 53,571 - 12,611 Total deposits 20,911,123 - 50,372 + 2,317,435 Deferred availability cash items 3,408,296 + 895,234 - 9,996 Other liabilities and accrued dividends 17,678 1,357 7,189 ' + + TOTAL LIABILITIES 48,767,862 906,874 + 3,601,905 C A P I T AL A C C O U N TS Capital paid in 234,971 260 + 13,354 Surplus (Section 7) 510,022 + 21,849 Surplus (Section 13b) 27,543 Other capital accounts 166,325 + 6,718 + 20,225 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,706,723 + 913,852 + 3,657,333 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.4% -6.1% Contingent liability on acceptances purchased for foreign correspondents 14,686 203 8,704 Industrial loan commitments 6,711 146 3,380 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 14, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 254,155 517 84,437 16 to 90 days 18,770 1,070 106,908 91 days to 1 year 1,335 1,637 14,182,383 Over 1 year to 5 years — 925 5,396,456 Over 5 years to 10 years l,013,6l4 Over 10 years 2,613,705 Total 274,260 4,149 23,397,503 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 NOVEMBER 14, 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 20,382,101 599,242 6,568,227 1149,894 1483,397 980,251 894,256 4126,596 555,086 322,727 709,746 564,8l8 2427,941 jRFdeZ'tiotesUnd f°r 675,483 60.386 6o.4l8 55,411 74,195 64,983 46,636 113,503 46,503 24,598 37,302 27,820 63,728 Total gold certificate reserves 21,057,664 659,628 6,628,645 1205,305 1557,592 1045,234 940,892 4240,099 601,589 347,325 747,048 592,638 2491,669 Other cash 295,395 19,74? 62,532 17,371 19,233 17,993 22,662 56,629 17,493 6,538 11,049 16,197 27,951 Discounts and advances 274,260 11,852 128,062 6,779 2,873 17,850 967 44,343 5,717 3,350 17,637 37 34,793 Industrial loans 4,149 — 23 3,353 — 95 488 — — 138 — 52 — U. S. Govt, securities: . , , . , . ^ ^ , Bills 191,345 13,166 42,995 12,039 17,874 12,723 10,325 28,747 10,432 6,074 9,010 9,156 18,804 Certificates 12,812,858 909,444 2,865,122 806,186 1196,848 851,966 691,369 1911,103 698,544 406,757 603,280 613,120 1259,119 Notes 5,068,073 359,727 1,133,28? 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 23,397,503 1660,316 5,232,194 1472,171 2185,561 1555,770 1262,506 3490,062 1275,608 742,777 1101,648 1119,617 2299,273 Total loans and securities 23,675,912 1672,168 5,360,279 1482,303 2188,434 1573,715 1263,961 3534,405 1281,325 746,265 1119,285 11111199,,770066 22333344,,006666 Due from foreign banks 33 2 If 10 3 3 2 1 5 1 l 1 1 3 F.R.notes of other banks 163,552 4,112 25,767 6,139 8,261 34,661 14,572 17,269 8,628 9,716 8,019 9,350 17,058 Uncollected cash items 4,333,991 355,266 850,930 249,702 370,583 358,910 286,973 745,766 183,565 124,153 244,924 201,553 361,666 Bank premises 43,055 1,027 7,670 2,865 4,672 4,022 2,757 6,295 3,306 1,088 2,464 657 6,232 Other assets 137,121 10,578 30,055 8,474 13,615 9,l4l 7,514 19,902 7,013 4,185 6,578 6,329 13,737 TOTAL ASSETS 49,706,723 2722,528 12,965,888 2972,162 4162,393 3043,678 2539,332 8620,370 2102,920 1239,271 2139,368 1946,431 5252,382 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 NOVEMBER 14, 1951 (in thousands of dollars) L I A B I L IT I BS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Federal Reserve notes 24,430,765 1478,139 5,377,304 1711,128 2209,874 1765,703 1339,843 4664,130 1133,012 624,054 955,228 684,552 2487,798 Deposits: Member bank-reserve accts. 19,850,300 823,628 6,281,001 910,678 1509,843 883,724 885,633 3201,234 720,600 470,290 906,947 965,105 2291,617 U.S.Treasurer-general acct, 245,488 12,118 40,612 22,921 23,203 10,537 18,891 32,032 30,377 20,076 14,902 4,909 14,910 Foreign 594,296 36,121 1/190,540 46,025 54,182 29,130 24,469 80,399 21,556 14,565 21,556 21,556 54,197 Other 221,039 6,602 146,945 1,790 4,885 5,977 2,064 1,338 9,613 961 1,198 2,162 37,504 Total deposits 20,911,123 878,469 6,659,098 981,414 1592,113 929,368 931,057 3315,003 782,146 505,892 944,603 993,732 2398,228 Deferred avail, cash items 3,408,296 304,718 652,958 206,080 271,489 297,631 225,411 508,890 148,704 83,133 201,429 230,381 277,472 Other liabilities and accrued dividends 17,678 1,195 4,911 991 2,075 899 787 2,460 835 576 636 668 1,645 TOTAL LIABILITIES 48,767,862 2662,521 12,694,271 2899,613 4075,551 2993,601 2497,098 8490,483 2064,697 1213,655 2101,896 1909,333 5165,143 Capital paid in 234,971 12,952 75,069 16,684 22,375 10,321 9,646 29,964 8,287 5,305 8,815 10,641 24,912 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 11,666 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,706,723 2722,528 12,965,888 2972,162 4162,393 3043,678 2539,332 8620,370 2102,920 1239,271 2139,368 1946,431 5252,382 Contingent liability on acceptances purchased for foreign correspondents 14,686 909 2/4,527 1,158 1,364 733 616 2,023 542 366 542 542 1,364 Industrial loan commitments 6,711 ~ - 1,904 957 72 2,488 --- --- 840 -- - 450 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,257,817 1518,917 5,611,946 1774,914 2277,052 1813,747 1397,854 4750,694 1174,206 634,603 980,413 725,946 2597,525 Collateral for F.R. notes: Gold certificates 12,489,000 350,000 4,470,000 700,000 815,000 565,000 510,000 2590,000 260,000 .150,000 280,000 199,000 1600,000 Eligible paper 222,225 11,790 125,280 6,700 --- 17,500 — 5,680 3,175 17,600 — 34,500 U. S. Govt, securities 13,485,000 1200,000 1,300,000 1100,000 1500,000 1275,000 950,000 2200,000 975,000 490,000 750,000 545,000 1200,000 Total collateral 26,196,225 1561,790 5,895,280 1806,700 2315,000 1857,500 1460,000 4790,000 1240,680 643,175 1047,600 744,000 2834,500 l/ After deducting $403,742,000 participations of other Federal Reserve Banks. 2/ After deducting $10,159,000 participations of other federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis