H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA LRESERVE SYSTEM H.4.1 (For Immediate Release) February 21, 195$ CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended February 20, Member bank reserves decreased $87 million. The principal changes reducing reserves were increases of $230 million in Treasury deposits with Federal Reserve Banks, $48 million in Foreign deposits with Federal Reserve Banks, $32 million in Treasury cash holdings, and $16 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were increases of $134 million in Reserve Bank credit and $60 million in Gold stock, and a decrease of $38 million in Money in circulation. The increase of $134 million in Reserve Bank credit resulted from an increase of $399 million in Float and decreases of $165 million in Loans, discounts and advances and $99 million in U. S. Government securities. Holdings of U. S. Government securities reflected a decrease of $226 million in certificates and an increase of $127 million in bonds. Change since Member Bank Reserves Feb. 20, Feb. 13, Feb. 21, and Related Items 1952 1952 1951 (In millions of dollars) Reserve Bank credit: U. S. Government securities 22,400 - 99 + 546 Loans, discounts and advances 459 -165 + 259 Float 1,029 ' +399 - 200 Total 23,887 +134 + 604 Gold stock 23,071 + 60 + 864 Treasury currency outstanding 4,721 + 4 + 8U Money in circulation 28,387 - 38 +1,223 Treasury cash holdings 1,308 + 32 + 31 Treasury deposits with F. R. Banks 491 +230 - 305 Foreign deposits with F. R. Banks 476 + 48 - 412 Other deposits with F. R. Banks 273 + 16 - 62 Other F. R. accounts (net) 738 - 3 + 5 Member bank reserves 20,007 - 87 +1,073 Required reserves (estimated) Excess reserves (estimated) 1 4 "8 + 954 + 119 Daily average excess reserves (estimated) 679 99 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 February 20, February 13, February 21 1952 1952 1951 A S S E TS Gold certificates 21,146,254 + 27,002 + 765>852 Redemption fund for F. R. notes 706,355 - 1,747 + 114,538 Total gold certificate reserves 21,852,609 + 25,255 + 880,390 Other cash 424,547 - 7,076 + 54,256 Discounts and advances 454,287 165,052 + 258,075 Industrial loans 4,466 164 + 838 - U. S. Government securities: Bills 1,658,664 Certificates 11,860,447 226,701 +11,860,447 - Notes 5,068,073 — — — - 9,807,310 Bonds 5,471,177 + 127,050 + 151,302 Total U. S. Government securities 22,399,697 - 99,651 + 545,775 Total loans and securities 22,858,450 264,867 + 804,688 Due from foreign banks 28 ^ rnm tm + 4 F. R. notes of other banks 176,885 - 2,549 + 29,219 Uncollected cash items 4,001,662 + 244,572 + 174,645 Bank premises 44,170 + 111 + 3,689 Other assets 191,675 + 9,539 + 50,612 TOTAL ASSETS 49,550,026 + 4,985 + 1,997,503 L I A B I L I T I ES Federal Reserve notes 24,356,630 - 54,339 + 1,269,800 Deposits: Member bank--reserve accounts 20,007,144 86,435 + 1,073,394 U. S. Treasurer--general account 491,078 + 229,870 - 304,874 Foreign 475,700 + 47,829 - 412,036 Other 272,622 + 15,443 - 62,553 Total deposits 21,246,544 + 206,707 + 293,931 Deferred availability cash items 2,973,005 - 154,417 + 374,739 Other liabilities and accrued dividends 14,264 + 285 + 1,833 TOTAL LIABILITIES 48,590,443 1,764 + 1,940,303 - C A P I T AL A C C O U N TS Capital paid in 240,843 + 572 + 13,051 Surplus (Section 7) 538,342 — — — + 28,320 Surplus (Section 13b) 27,543 — — — — — — Other capital accounts 152,855 + 6,177 + 15,829 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47985 + 1,997,503 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.9# .3# Contingent liability on acceptances purchased for foreign correspondents 11,102 570 17,408 Industrial loan commitments ^ cU2) hUHAtA 7,30^^ 238 4,366 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 20, 1952 (Callable Government securities classified according to nearest call date) Discounts and Industrial U. S. Government advances loans securities Within 15 days 433,309 908 16 to 90 days ^±6,978 646 3,798,791 91 days to 1 year 1,948 9,856,331 Over 1 year to 5 years 964 5,1.02,256 Over 5 years to 10 years 1,013,614 Over 10 years 2,628,705 Total 454,287 4,466 22,3991597" 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 FEBRUARY 20, 1952 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago !S t.Louis Mpls. Kans.Cy. Dallas SanFran, Gold certificates 21,146,254 697,735 7,161,277 1275,891 1438,834 938,803 803,409 4111,608 587,532 344,412 722,886 559911,,005544 22447722,,881133 Redemption fund for F, R. notes 770066,,335555 6622,,113322 7755,,556644 55,078 80,615 65,239 49,243 116,754 49,042 24,913 36,927 27,976 62,872 Total gold certificate reserves 21,852,609 759,867 7,236,841 1330,969 1519,449 1004,042 852,652-4228,362 636,574 369,325 759,813 619,030 2535,685 Other cash 424,547 30,711 89,376 31,097 34,031 26,178 30,221 77,411 19,729 9,502 16,933 16,645 42,713 Discounts and advances 454,287 1,462 100,955 7,955 16,700 32,355 13,100 117,600 18,910 17,500 54,200 4,700 68,850 Industrial loans 4,466 - - -*• - ~ 3,422 - — — 81 816 — — — * w 113311 16 U. S. Govt, securities: Certificates 11,860,447 804,055 2,553,211 728,303 1182,463 792,622 697,287 1832,083 651,209 377,174 570,405 560,489 1111,146 Notes 5,068,073 343,580 1,091,009 311,210 505,277 338,694 297,957 782,865 278,268 161,170 243,739 239,502 474,802 Bonds 5,471,177 370,908 1,177,786 335,963 545,465 365,633 321,656 845,133 300,401 173,989 263,125 258,551 512,567 Total U. S. Government securities 22,399,697 1518,543 4,822,006 1375,476 2233,20$ 1496,949 1316,900 3460,081 1229,878 712,333 1077,269 1058,542 2098,515 Total loans and 1 ' ' 1 " ' ' ' " " " " ~ ' securities 22,858,450 1520,005 4,922,961 1386,853 2249,905 1529,385 1330,816 3577,681 1248,788 729,964 1131,469 1063,258 2167,365 Due from foreign banks 28 2 l/ 8 2 3 1 1 4 1 1 1 1 3 F.R.notes of other banks 176,885 4,949 20,6l8 6,487 8,061 52,773 19,965 14,155 7,609 6,336 6,960 12,189 16,783 Uncollected cash items 4,001,662 396,475 752,419 238,263 355,112 310,242 272,610 637,703 148,601 102,937 203,683 198,699 384,918 Bank premises 44,170 1,013 7,554 2,848 4,749 4,183 3,114 6,541 3,250 1,080 2,442 647 6,749 Other assets 191,675 13,950 40,68l 11,621 19,641 12,916 11,398 29,102 10,286 5,906 9,323 9,126 17,725 TOTAL ASSETS 49,550,026 2726,972 13,070,458 3008,140 4190,951 2939,720 2520,777 8570,959 2074,838 1225,051 2130,624 1919,595 5171,941 l/ After deducting $20,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

. .±(c> blATh-ivitilMl' ui1 CvKjjil'IUiM OF THE FEDERAL RESERVE BANKS ON FEBRUARY 20, 1952 ti 4 (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 24,356,630 1494,505 5,407,128 1728,977 2224,243 1717,373 1321,994 4651,002 1133,382 622,032 955,809 671,382 2428,803 ^Member^bank-reserve accts. 20,007,144 863,775 6,459,829 938,985 1508,2.77 848,964 874,513 3179,956 720,245 455,148 929,380 978,748 2249,324 U.S.Treasurer-general acct. 491,078 35,473 46,421 29,878 56,333 44,831 32,604 76,5-^2 30,866 27,958 29,266 43,950 36,956 Foreign 475,700 29,388 1/144,833 36,972 43,608 24,174 20,382 65,886 18,012 12,324 18,012 18,012 44,097' Other 272,622 3,878 207,231 2,005 4,029 2,483 2,752 1,698 8,097 4,767 289 534 34,859 Total deposits 21,246,544 932,514 6,858,314 1007,840 1612,247 920,452 930,251 3324,082 777,220 500,197 976,94? 1041,244 2365,236 Deferred avail, cash items 2,973,005 238,195 525,825 196,952 263,843 249,794 224,206 459,899 124,300 75,909 158,825 167,824 287,433 Other liabilities and J accrued dividends 14,264 790 3,810 810 1,512 716 684 2,206 660 662 555 645 1,214 TOTAL LIABILITIES 48,590,443 2666,oo4 12,795,077 2934,579 4101,845 2888,335 2477,135 8437,189 2035,562 1198,800 2092,136 1881,095 5082,686 capital paid in 2s0,843 13>75 76,322 16,887 22,937 10,525 9,944 31,189 8,453 5,438 9,107 11,369 25,597 surplus (Section 7) 538,342 34,102 159,743 41,493 50,648 27,025 23,871 79,601 21,788 14,063 20,367 18,210 47,341 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 152,855 10,690 31,997 10,692 14,515 10,486 9,065 21,551 8,514 5,6(7 7,877 7,6l4 l4,17n TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,550,026 2726,972 13,070,458 3008,140 4190,951 2939,720 2520,777 8570,959 2074,838 1225,051 2130,624 1919,595 5171,941 Contingent liability on acceptances purchased for foreign correspondents 11,102 688 2/3,353 866 1,021 566 477 1,543 422 289 422 422 1,033 Industrial loan commitments 7,30$^ — — 2,636 916 67 — 2,4$& ^ — — 825 — 429 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 25,455,954 1561,277 5,662,033 1803,373 2331,560 1805,612 1405,485 4778,917 1184,101 632,819 984,663 725,812 2580,30Z Collateral for F. R. notes: Gold certificates 12,584,000 350,000 4,470,000 750,000 760,000 580,000 485,000 2570,000 270,000 150,000 280,000 219,000 1700,000 Eligible paper 293,852 1,462 100,645 7,955 — 24,330 — —• 18,910 17,500 54,200 — 68,850 U. S. Govt, securities 13 675,000 1300.,000 1,300,000 1100,000 1625,000 1300,000 950,000 2300,000 1000.000 5C5,000_ 750.000 545,000 1000,000 Total collateral 26^552,852 1651,462 5,870,645 1857,955 2385,000 1904,330 1435,000 4870,000 1288,910 672,500 1064,200 ^64,000 2768,850 l/ After deducting $330,852,000 participations of other FedersJ. Reserv eparks, 2/ After deducting $7,7^9,000 participations of other Federal P.ioervz Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis