H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 20, I95I CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended December 19> Member bank reserves increased $834 million. The principal changes supplying reserves were increases of $765 million in Reserve Bank credit and $109 million in Gold stock, and decreases of $260 million in Treasury deposits with Federal Reserve Banks and $15 million in Treasury cash holdings• The principal offsetting changes were increases of $226 million in Money in circulation, $57 million in Other F* R, accounts (net), and $44 million in Other deposits with Federal Reserve Banks. The increase of $765 million in Reserve Bank credit resulted from an increase of $1,026 million in Float and a decrease of $262 million in Loans, discounts and advances. Holdings of U.,S. Government securities reflected an increase of $42 million in certificates and a decrease of $42 million in bonds. Change since Member Bank Reserves Dec. 19, Dec. 12, Dec . 20 and Related Items 1951 1951 11995500 (In millions of dollars) Reserve Bank credit: U, S. Government securities 23,239 •» — +3., 012 Loans, discounts and advances 453 -262 + 397 Float 2,053 +1,026 + 472 Total 25,745 +765 +3 ,j8 81 Gold stock 22,491 +109 305 Treasury currency outstanding 4,703 + 3 + 73 Money in circulation 29,263 +226 ,334 •Treasury cash holdings 1,269 - 15 22 Treasury deposits with F. R. Banks 6 -260 - 679 Foreign deposits with F. R. Banks 515 - 8 - 381 Other deposits with F. R. Banks 257 + 44 51 Other F. R. accounts (net) 827 + 57 + 67 Member bank reserves 20,798 +834 +3, 382 Required reserves (estimated) 19,678 +46l +3,1 28 Excess reserves (estimated) 1,120 +373 + 254 Daily average excess reserves (estimated) 976 +239 - 172 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 December 19, December 12, December 2C 195.1 1951 195C A S S E TS Gold certificates 20,579,454 + 93,773 - 402,949 Redemption fund for F. R. notes 707.195 + 12,259 + 138,297 Total gold certificate reserves 21,286^649 106,032 - 264,652 Other cash 280,446 5,787 + 59,675 Discounts and advances 448,779 261,427 + 394,747 Industrial loans 4,362 52 + 1,963 U, S. Government securities: Bills 116,970 * 628,601 Certificates 12,719,598 42,000 +1(5,385,403 Notes 5,068,073 - 7,545,923 am Bonds 42,000 + 801,402 Total U. S. Government securities + 3,012,281" Total loans and securities 23,692,05 261,375 + 3,408,991 Due from foreign hanks 28,<5, + 4 F. R. notes of other banks i64,6er 2,960 + 24,687 Uncollected cash items + 1,217,878 + 538,050 : Bank premises -3fr + 266 + 5,353 Ojfcher assets 50,448 + 5,610 TOTAL ASSETS 50,629,474 + 1,003,606 + 3,777,718 L I A B I L I T I ES Federal Reserve notes 25,069,797 + 195,875 + 1,363,207 Deposits: Member bank—reserve accounts 20,798,424 + 834,441 + 3,382,500 U. S. Treasurer—general account 6,118 - 260,327 - 679,317 Foreign 518,562 8,458 - 381,639 Other + 44,428 - 50,174 Total deposits + 610,084 + 2,271,370 Deferred availability cash items 2,988,564 + 191,763 + 65,482 Other liabilities and accrued dividends 18,722 634 + 7,253 T6TAL LIABILITIES 49,657,639 + 997,088 + 3,707,312 C A P I T AL A C C O U N TS Capital paid in 235,948 + 336 + 11,149 Surplus (Section 7) 510,022 — + 21,849 Surplus (Section 13b) 27,543 * Other capital accounts 198,322 + 6,182 + 37,408 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,629,474 + 1,003,606 + 3,777,716 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.6# 4.5% Contingent liability on acceptances purchased for foreign correspondents 21,338 1,615 697 Industrial loan commitments 6,397 107 2,20% -Tf MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 19, 1951 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities V ' i I Within 15 days 442,891 1,475 62,908 16 to 90 days 5,704 • 84 101,462 91 days to 1 year 184 1,817 14,339,323 Over 1 year to 5 years 986 5,098,856 Over 5 years to 10 years 1,013,614 Over 10 years 2,622,755 Total 448,779 4,362 23,238,918 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 DECEMBER 19, 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 20,579,454 626,889 6,791,905 1199,887 1496,568 920,933 878,215 4134,472 535,424 320,613 687,704 534,987 2451,857 Redemption fund for F. R. notes Total gold certificate reserves 21,286,649 689,867 6,870,661 1256,547 1572,236 988,406 928,215 4247,388 584,774 345,661 724,892 562,689 2515,313 Other cash 280,446 15,372 67,921 12,655 17,466 16,158 20,248 52,325 15,009 5,945 11,320 14,872 31,155 Discounts and advances 448,779 6,450 32,195 6,145 4,420 19,390 4,500 93,545 9,855 1,350 36,019 8,710 226,200 Industrial loans 4,362 23 3,448 97 624 — 135 35 U. S. Govt, securities: Bills 116,970 38,172 7,360 10,926 7,777 6,312 17,447 „ 6,377 5,507 5,598 11,494 Certificates 12,719,598 888,383 2,863,071 800,317 1188,137 845,765 686,337 1897,192 693,461 399^33 598,890 608,657 1249;955 Notes 5,068,073 353,969 1,140,778 318,883 473,409 336,991 273,468 755,928 276,306 159,158 238,625 242,518 498,040 Bonds 5,334,277 372,562 1,200,698 335,633 498,275 354,692 287,832 795,634 290,819 167,518 251,159 255,256 524,199 Total U. S. Government securities 23,238,918 l6l4,9l4 5,242,719 1462,193 2170,747 1545,225 1253,949 3466,201 1266,963 726,109 1094,181 1112,029 2283,688 Total loans and securities 23,692,059 1621,364 5,274,937 1471,786 2175,167 1564,712 1259,073 3559,746 1276,818 727,594 1130,200 1120,774 2509,888 ^ 0 Due from foreign banks b x 28 2 l/8 \2 3 1 1 4 1 1 1 1 3 F.R.notes of other banks 164^5015,159 21,566 6,217 /> 7,680 41,660 11,519 18,253 8,761 6,693 8,434 11,763 16,896 Uncollected cash items 5,041,651/ 445,506 946,485 297,961/ 572,243 361,347 291,019 822,956 249,096 121,917 272,412 242,332 4l8,377 Bank premises 43,372 1,022 7,682 2,85/ 4,659 4,108 2,885 6,324 3,286 1,085 2,454 654 6,362 Other assets 120,668^° 9,447 26,419 7,35^* 12,132 7,915 6,691 17,537 6,139 3,650 5,790 5,696 11,896 TOTAL ASSETS 50,629,474 2787,739 13,215,679 3055,375 4361,586 2984,307 2519,651 8724,533 2143,884 1212,546 2155,503 1958,781 5509,890 t l/ After deducting $20,000 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 DECEMBER 19, I95I (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 25,069,797 1532,959 5,568,863 1773,882 2286,822 1796,994 1386,990 4748,632 1170,120 634,908 973,870 703,905 2491,852 Dcpos l"t s! Member bank-reserve accts. 20,798,424 930,499 6,497,336 940,905 1589,417 872,522 866,954 3322,402 757,926 46o,o6o 967,857 1010 864 2581 682 U.S. Treasurer -general acct. 6,118 516 455 539 529 187 265 524 503 557 575 ' ' qUq 519 Foreign 518,562 32,011 1/160,750 40,788 48,016 25,815 21,685 71,249 19,103 12,908 19,103 19,103 48 031 Other 257,452 5,324 187,989 5,377 3,581 2,048 2,018 2,272 8,323 1.116 393 561 38^50 Total deposits 21,580,556 968,350 6,846,530 987,609 1641,543 900,572 890,922 3396,44? 785,855 474,641 987,928 1031,047 2669 112 Deferred avail, cash items 2,988,564 222,913 516,001 218,204 341,156 233,640 196,923 441,988 147,028 75,821 154,059 184 341 256 490 Other liabilities and ' accrued dividends 18,722 1,340 5,123 1,018 2,259 877 790 2,507 748 515 645 812 2,088 TOTAL LIABILITIES 49,657,639 2725,562 12,936,517 2980,713 4271,780 2932,083 2475,625 8589,574 2103,751 1185,885 2116,502 1920,105 5419 542 Capital paid in 235,948 12,978 75,276 16,747 22,438 10,332 9,693 30,156 8,351 5,343 8,865 10 685 25,084 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 ©ther capital accounts 198,322 13,942 43,277 13,716 18,348 13,376 11,202 28,029 10,966 7,077 9.952 q'8^2 ifi'fios TOTAL LIABILITIES AND ! 1—Z 1 U-U 2zZ2£ ' CAPITAL ACCOUNTS 50,629,474 2787,739 13,215,679 3055,375 4361,586 2984,307 2519,651 8724,533 2143,884 1212,546 2155,503 1958,781 5509,890 Contingent liability on acceptances purchased for foreign correspondents 21,338 1,323 2/6,551 1,686 1,984 1,067 896 2,944 790 533 790 790 1 984 Industrial loan commitments 6,397 — — 1,630 952 64 --- 2,473 — 835 ... '1^3 FEDERAL RESERVE AGENTS' ACCOUNTS P. R. notes outstanding 25,987,501 1565,011 5,846,591 1839,951 2350,428 1844,794 1441,934 4844,812 1213,193 646,712 1005,462 746,917 2641,696 Collateral for F. R. notes: ' Gold certificates 12,719,000 350,000 4,470,000 750,000 855,000 565,000 510,000 2700,000 270,000 150,000 280,000 219,000 l6C0,OOO Eligible paper 317,6o4 6,450 12,645 6,145 —- 19,090 — — 9,855 1,200 36,019 — 226,200 U. S. Govt, securities 13,850,000 1300,000 1.50C,000 1100,000 1500,000 1300,000 950,000 2200,000 1000,000 505,000 750,000 545,000 1200 000 Total collateral 26,886,604 1656,450 5,982,645 1856,145 2355,000 1884,090 1460,000 4900,000 1279,855 656,200 1066,019 764,000 3026,'200 1/ After deducting $357,796,000 participations of other Federa. Reserve Banks. 2/ After deducting $14,787,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis