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CORPORATION
ANDLOANINSURANCE
FEDERAL
FOR
OPERATIONS
OF
1952
SUMMARY
SAVINGS
FEDERAL
SAVINGS
ANDLOANSYSTEM
.
FEDERAL
LOAN
HOME
BANK
SYSTEM
HOUSING
AND
HOME
FINANCE
AGENCY
BOARD
BANK
HOME
LOAN
WASHINGTDC
The enclosed card contains selected
current statistics on the operations
of the Federal ome Loan Banks and
the Federal Savings and Loan Insurance
Corporation. It is detached from the
Summary of Operations so that it may
serve as a ready reference.
Federal Savings and Loan Insurance Corporation
INCOME AND EXPENSE STATEMENT
STATEMENT OF CONDITION
DECEMBER 31, 1952
ASSETS
Cah
1,208, 241
$
3,747, 757
208, 297, 182
290, 759
Accounts Receivable
Investmenta
Acer. Int. on Investments
Insured Accounts - Pending
and.Unclaimed
Deferred Charges
Other Assets
Total
6, 450
140,492
431
$213,691,312
IABILITIES AND CAPITAL
65, 873
$
Accomuta Payable
876, 975
pae U. S. Treasury
6, 508,631
85, 755, 000
Dserred Credits
Capital StQo
112, 944, 154
7, 540, 679
I139,91, 312
Leg Raerve
Unallocated Iccome
Total
ED
Pederal1,
State
-0
,
581
1,591
Total
3.T172
Insured Shae LiabilityNo. of Private Investors
0
0TS0
0A w
7,894, 000, 000
784
t
Federal Savings and Loan Insurance Corporation
19.656. 000, 000
$16, 327, 000, 000
10,806,000
Reserves and Undivided
12 MONTHS ENDING DECEMBER 31, 1952
INCOME
$,12, 026, 721
Insurance Premiums
98, 591
Admission Fees
4, 813, 144
Interest on Investments
45, 210
Miscellaneous
Total
Miscellaneous
Total
430, 374
40
284, 799
, 4,475
33. d38
$ 16,230, 140
-0
Net Income Before Payment
of Return on Capital
Return on Capital Stock in
S16, 230, 140
1, 863, 889
Lieu of Dividends
NET INCOME
14, 386, 251,
0 M-
TO TOTAL
Pr.um an Fees
Interest and Miscellaneous
APPLICATIR OP INCOME
Expenses .
Return on Capital Stock
Legal Reserve
$ 1, 375, 000, 000*
Profits of Insured Inst.
6, 197, 000
Averag Sine Insured Inst.
*Prelimn
estimate
-1
$
PORS ADJ.
Adj. Provision for Losses
OF
JUNE 27, 1934 TO DECEMBER 31, 1952
INCOME
Insurance Premiums
$ 95, 754, 727,
Admission Fees
879, 790
Interest on Investments
69, 384, 843
Profit - Sale of Securities
Recoveries
Micellaneous
70. 22, 7
$
Administrative
quidation & Other
Services Rendered by H. L. B. B.
Depreciation
'
71.4
28.6
4.4
11.0
84.6
Misellaneous
Total
NET INCOME BEFORW DJ.
Adj. Provision for Losses
Net Income Before Payment
of Return on Capital
Retuin on Capital Stock
Legl Reserve
6,634,871
226, 173
428, 9874
71, 820
5, 683, 672
56 878
13101.401
157,128, 330
596
$ 157, 127, 734
38 .64. 901
$ 120, 484, 833
SOURCE OF INCOME
TOTOTl
Premiums and Fees
Interest
Other
56.8
40.7
2.5
APPLICATION OF INCOME
Expenses
Insurance Losses (Net)
Return on Capital Stock
Lei!
.* Reserve
sified s administrative ex
prior to June 30, 1951.
-2-
3, 674, 248
475, 797
6Q, 326
EXPENSES
Insurace Losses
NET INCOME B
SOURC
CUMULATIVE INCOME AND EXPENSE
Total
EXPENSES
Administrative
Liquidation & Other
Services Rendered by H. L. B. B.
Depreciation
Federal Savings and Loan Insurance Corporation
-3-
4.4
3. 1
21.4
70.9
CONSOLIDATED STATEMENT OF CONDITION
DECEMBER 31,1952
ASSETS
$
Cash
U. S. Treasury Obligations:
Bills, CofI's,& Notes
42,892,159
137, 177, 183
173,759,828
864,188,531
3,684,321
,
702022
Bonds
*Advances
Other
Total Assets
LIABILITIES AND CAPITAL
$
Deposits
Consolidated Obligations (Ne}
Other
419,904,841
445,050,000
6,848,424
$
871, 801,265
Total Liabilities
315,487,875
17,460,692
4,831,260
12,120, 930
$ 349,900 757
$1, 221,702,022
Cap. Stock: Member owned
Legal Reserve
Reserve for Contingencies
Undivided Profits
Total Capital
Total Liab. & Capital
Borrowers
No.
Federal S&L Assns.
State Assns: Insured
Noninsured (a)
Insurance Company
Total
2,
Amount
849 $534, 374, 670
796 282,176, 472
42,995,014
411
1
4, 642,375
057 $864,188 .531
i Includes 1 nonmember with adv.of
*Unsecured
26.7%
-1-
Federal Home Loan Banks
Federal Home Loan Banks
Federal Home Loan Banks
137.500
$230,542,629
CONSOLIDATED INCOME AND EXPENSES
CALENDAR YEAR 1952
Amount
$17,026,155
7,036,211
5,235
$24,067,601
OPERATING INCOME
Int. on: Advances
Securities
Other
Total
OPERATING EXPENSES
_____
70.8
29.2
Bank
Boston
New York
Pittsburgh
Advances
2.5%
2.75%
2. 5-27. 5%
Deposits
1.25%-1.75%
2%
1%-2%
100.0
_
$ 1,118,317
Compensation
103,106
Travel
7,995,235
Cons. Oblig. Int. Costs
5,470, 140
Int. on Deposits
87,327
Fiscal Agent's Office
389,861
HLB Board Assess.
Other
420 661
Total
$15,564,647
4.7
0.4
33.2
22.7
0.3
1.6
1.8
64.7
$ 8,502, 954
35.3
NET OPER. INCOME
Nonoperating: Income
INTEREST RATES IN EFFECT
JANUARY 1, 1953
2.5%
2.75%
2, 5%
Greensboro
Cincinnati
Indianapolis
Chicago
Des Moines
Little Rock
1. 5%-1. 75%
1.25%-1. 75%
2%
2.5%-2.75%-3% 1% to 1. 75%*
2.5%
1.75%
1.5%
2.5%
Topeka
San Francisco
2.75%
3%
1.75%
1%-1. 75%-2%
*Includes 1. 25% and 1.5%
266,436
144,314
8, 625,076
Expense
NET INCOME
MEMBER INSTITUTIONS
Est. Assets
No.
Types
Federal S&L Assns. 1,581 $11, 762,000,000
7, 894000,000
State Assns: Insured 1, 591
1, 690, 000, 000
856
Nonins'd
431,000,000
23
Savings Banks
Insurance Cos.
5
94,000.000
4, 056 $21,871,000,000
Total
-2--
DISPOSITION OF NET INCOME
Through December 31,1952
Dividends Paid:
U. S. Government
Members
Retirement Fund
Legal Reserve
Conting. Reserve
Undivided Profits
Total
-3-
$51,213,765
26,176,171
25,037,594
1,045,254
17, 460,692
4,831,260
12, 120,930
59.1%
30.2
28.9
1.2
20.1
5.6
14.0
$86,671,901
100.0%
FOREWORD
The calendar year 1952 marked the twentieth anniversary of
the creation
of the Home Loan Bank Board. During the past year,
new peaks in membership, assets, insurance coverage, and general
savings and lending activity were recorded by the agencies under the
Board.
In the following "Summary" the Home Loan Bank Board
presents a brief account of the operations of the Federal Home Loan
Bank System, the Federal Savings and Loan Insurance Corporation,
and the F e d e r a Savings and Loan System during the calendar year
1952.
William K. Divers, Chairman
Alston Adams, Member
Kenneth G. Heisler, Member
HOME LOAN BANK BOARD
February 1953
FEDERAL HOME LOAN BANK SYSTEM
During the calendar year 1952 the number of members of the
Federal Home Loan Bank System reached an all-time peak. As of
December 31, 1952, there were 4,056 members withestimated assets
of almost $22, 000, 000, 000.
This membership consisted of 4, 028
savings and loan associations and similar home financing institutions,
23 savings banks, and 5 insurance companies.
of the eleven Federal Home Loan Banks also
The assets
The year
reached an all-time peak of more than $1, 221, 000, 000.
1952 marked the first full year of complete ownership of the Banks
by their member institutions, the U. S. Government's original invest
ment of $124, 741, 000 in the capital stock of the Banks having been
completely repaid by July 2, 1951, and dividends of over $26, 000, 000
having been paid to the Government on such investment. During the
year the member institutions increased their investments in the
capital stock of the Banks by almost $45,000,000, resulting in a total
in such stock of more than $315,000,000 as of
investment
December 31, 1952.
Home Loan Banks had
At the close of 1952 the Federal
advances outstanding to 2,056 member institutions or 50.7 percent of
the t ot al membership, as contrasted to 2, 220 member institutions
representing 55.8 percent of the total membership as of the close of
the preceding year. A comparison of the 1952 lending operations of
the Federal Home Loan Banks with those of prior years is presented
in Exhibit 1 of this Summary. With advances of $585, 813, 272 and
repayments of $527, 561, 508, the $864, 188, 531 balance outstanding
on December 31, 1952, established a new pe ak. Secured advances
outstanding to 1, 358 borrowing institutions on December 31, 1952,
established a new high of $633,645,902. On the same date unsecured
advances of $230, 542, 629 were held by 955 member institutions.
On December 31, 1952, secured advances represented 73. 3 percent
of the total, as compared to 74.0 percent at the close of 1951.
HOME
LOAN
BANK BOARD
United States Government securities owned by the Banks in
creased from $248, 037, 500 par value at the close of 1951 to a total
par value of $310, 607, 500 on December 31, 1952.
As will be noted from Exhibit 2, the capital structure of the
Federal Home Loan Banks as of the close of 1952 and 1951 was as
follows:
December 31,
1952
December 31,
1951
$315, 686, 500
198, 625
$271, 374, 700
723, 075
$315, 487, 875
$270, 651, 625
17, 460, 692
4, 831, 260
12, 120, 930
15, 735, 677
5, 510, 758
10, 580, 756
Total Surplus
34, 412, 882
31, 827, 191
Total Capital
$349, 900, 757
$302, 478, 816
CAPITAL STOCK
Stock Subscribed by Members
Less: Unpaid Subscriptions
Total Paid-in Capital
SURPLUS
Legal Reserve
Reserve for Contingencies
Undivided Profits
During the calendar year 1952 six issues of consolidated
Federal Home Loan Bank notes aggregating $548, 550, 000 were sold,
At the close
while eight issues totaling $629, 500, 000 were retired.
of 1952 five issues were outstanding in the net amount of $445,050,000.
Deposits of memb e r s in the Federal Home Loan Banks on
December 31,1952, reached a new peak of $419, 661, 116 and repre
sented an increase of $158, 425, 336 over the total at the end of the
preceding year. Time depos its accounted for $135, 347, 105 of the
increase, resulting in a total of such deposits of $352, 605, 194 as
compared to $217, 258, 089 at the close of 1951.
FEDERAL
HOME
LOAN
BANK
SYSTEM
During 1952 deposits of $30, 000, 000 were made by Federal
Home Loan Banks in other Federal Home Loan Banks, all of which
were repaid before the close of the year.
A comparative condensed statement of income and expense of
the eleven Federal Home Loan Banks for the calendar years 1952 and
1951 is set forth in Exhibit 3. This exhibit shows an earned operating
income for 1952 of $24, 067, 600, reflecting an increase of $2,092,887
over that for the pre ce ding year. On the other hand, operating
expenses decreased during 1952 to a total of $15, 564, 646.
The net income for 1952 of $8,625,076, which was 37 percent
higher than in 1951, and the total net income of $86,671,901 cumulative
from the beginning of the B ank s' operations through December 31,
1952, was distributed as follows:
Calendar Year
1952
Dividends Paid:
U. S. Government
Member Institutions
Total
Retirement Fund of the
FHL Bank System
Legal Reserve
Contingent Reserve and
Undivided Profits
Total Net Income
$
-0
October 1932 to
December 31, 1952
5, 661, 591
$5, 661, 591
$26, 176, 171
25, 037, 594
$51, 213, 765
377, 794.
1, 725, 015
1, 045, 254
17, 460, 692
860, 676
16, 952, 190
$8, 625, 076
$86, 671, 901
Dividend declarations by the individual Bank s during 1952
ranged from 1. 25 percent to 2. 25 percent per annum representing an
average of 1. 91 percent.
4
HOME
LOAN
BANK
BOARD
FEDERAL SAVINGS AND LOAN
INSURANCE CORPORATION
Anew record was reached
during 1952 in the number of
savings and loan associations offering the benefits of insurance to
their savers and investors through the Federal Savings and Loan
Insurance Corporation. The membership of the Corporation numbered
3,172 at year-end: 1,591 were state-chartered institutions for which
insurance is optional, and 1, 581 were Federally chartered for which
insurance is mandatory.
Insurance of accounts was extended to 157
additional savings and loan associations during 1952.
In the same
period, five institutions voluntarily terminated their insurance: two
reincorporating under other charters, one merging with another in
sured association, and two canceling insurance in connection with
complete sale of association assets.
Assets of the insured membership, totaling $19, 656, 000, 000
on December 31, 1952, increased 21 percent
during the year and
represented 87 percent of the comb ine d assets of the savings and
loan industry.
Outstanding
first mortgage loans of insured associations,
amounting to $16, 092, 000, 000, accounted for 82 percent of assets at
19 percent were guaranteed or
year-end.
Of these mortgages,
insured by the Veterans Administration and 5 percent were insured by
the Federal Housing Administration. The number of borrowers
totaled almost 3,500,000. Liquid assets of $2,696,000,000 on Decem
ber 31, consisting of cash and U. S. Government securities, were
equivalent to 14 percent of assets and 16 percent of savings capital.
At the close of 1952, over 10, 800, 000 savers had accounts in
These individuals held total savings of
insured associations.
$16, 732, 000, 000, an increase of $3, 079, 000, 000 during the year.
of the savings was covered by insurance, as the
Nearly 98 percent
guarantees the
Federal Savings and Loan Insurance Corporation
safety of savings against any type of loss in each insured association
up to $10, 000 for each saver or investor.
FEDERAL
SAVINGS
AND
LOAN
INSURANCE
CORPORATION
The reserves and undivided profits of insured associations,
which would be available for losses in case of need, continued to
increase in 1952. At the close of the year, such reserve accounts
totaled approximately $1,375,000,000 and were equivalent to 7.0 per
cent of total assets, or 8. 2 percent of savings capital.
Total assets of the Federal Savings and Loan Insurance
Corporation had risen to $213,691,312 as of December 31, 1952, with
over 98 percent of the total consisting of cash and U. S. Government
securities.
The combined capital stock and reserve of the Corporation,
totaling $206, 239, 833, was equivalent to 1. 3 percent of the insured
The Corporation's ability to meet its
share liability at year-end.
insurance obligations is further strengthened by its continuing
authority to borrow up to $750, 000, 000 from the U. S. Treasury.
The gross income of the Corporation during the calendar year
amountedto $16,983,666, of which $12,125,312 consisted of insurance
premiums and admission fees, and $4,813, 144, interest on invest
ments. Expenses amounted to $753, 526, or 4.4 percent of gross
income.
Since the beginning of operations in 1934, cumulative insur
ance premiums and admission fees have accounted for 56.8 percent
An
of total income, and interest on investments for 40.7 percent.
analysis of the distribution of income during the entire history of the
Corporation reveals that 70. 9 percent has been added to reserves,
21. 6 percent has been paid as a return on the Corporation's capital
stock, 4. 4 percent has been used for expenses, and 3. 1 percent for
insurance losses.
As required by law, the systematic retirement of the Corpo
ration's capital stock was begun in July, 1951. The original amount
of $100, 000, 000 is being retired by annual payments to the U. S.
Treasury equivalent to one-half of the Corporation's net income each
fiscal year. In July of 1952, stock totaling $7, 529, 000 was retired,
reducing the total outstanding stock to $85,755,000. Also in accord
ance with statutory requirements, annual payments from net income
6
HOME LOAN
BANK
BOARD
are made to the T r e a s u r y as a return in lieu of dividends on the
average amount of capital stock outstanding during the fiscal year.
From organization to June 30, 1952, the Corporation has paid
$36, 642, 901 for the use of its capital.
During 1952, the Corporation completed the liquidation
of assets purchased in April 1950 for $4, 405, 175 in order to prevent
default of an insured institution. Excepting the cost to the Corporation
of the funds inv olved in the purchase, the transaction was closed
without loss. This has been the only case requiring financial action
by the Corporation since 1944. During its eighteen and one-half
years of operation, the Corporation has had net losses of $5,165,137
in 36 insurance cases.
FEDERAL
SAVINGS
AND
LOAN
SYSTEM
FEDERAL SAVINGS AND LOAN SYSTEM
There were 1, 581 Federal savings and loan associations in
operation as of December 31, 1952, with combined assets of
$11, 762, 000, 000. These as set s, which grew by 20 percent during
the year, represent about 52 percent of the total assets of all savings
and loan associations in the country. Of the 1, 581 Federal associa
tions, 689 were newly organized under Federal charter and 892 con
verted from State to Federal charter.
During the 1952 calendar year 18 charters were issued to
newly organized Federal associations and 16 to associations converting
from State charter. Since 2 charters were canceled due to reincor
poration u nder State charter, there was a net increase of 32 in the
number of outstanding Fe de ral charters. Approvals were granted
during the year for 37 branch office s, while 3 previously granted
approvals were rescinded, bringing the total at the close of 1952 to
161 branch offices operated by 113 Federal associations.
New savings invested in Federal associations during 1952
totaled $4, 367, 000, 000, which was the largest amount for any year
in their history, being 24 percent more than was invested during the
preceding year. Withdrawals duringthe year totaled $2,636,000,000,
making a withdrawal ratio of 60 percent as compared with 67 percent
for 1951. The number of investors in Federal associations increased
by 15 percent from 5,481, 000 to 6, 310, 000 at the close of 1952. The
was
accounts in Federal associations
aggregate of savings
$10, 035, 000, 000 on December 31, 1952.
Federal savings
and loan associations registered a record
increase of $1, 629, 000, 000 in their mortgage loan portfolio during
1952. Total mortgage loans which represent 82 percent of their total
assets, rose from $7, 964, 000, 000 to $9, 593, 000, 000, or by 20 per
cent as compared with an increase of 16 percent in 1951.
8
HOME LOAN
BANK
BOARD
Conventional loans accounted for $7, 075, 000, 000, or 74 per
cent of the mortgage
loan portfolio; G. I. loans represented
$1, 935, 000, 000, or 20 percent; and F. H. A. loans of $583, 000, 000
accounted for 6 percent of the total. Over two-fifths of the new
mortgage loans made by Federal associations during the year were
for the purchase of homes, accounting for $1,449,000,000 of the total.
An additional one-third, or $1, 180, 000, 000, represented loans for
new home construction while the remainder of the $3,.427, 000, 000
total served for refinancing, reconditioning, and other purposes.
Federal savings and loan associations held liquid assets of
$1, 644, 000, 000 in cash and Government obligations on December 31,
1952, an increase of $246, 000, 000, or 18 percent, during the year.
to 16 percent of all savings
These liquid assets were equivalent
of total assets. There was a 19 percent
accounts and 14 percent
increase in the general reserves and undivided profits accounts of all
Federal associations during the calendar year 1952. These reserve
accounts, which rose from $673,000,000 to an estimated $800,000,000,
equaled 6. 8 percent of assets at the close of 1952 as compared with
6.9 percent on December 31, 1951, and 6.7 percent at the end of
1950.
HOME
LOAN
BANK
BOARD
LIST OF EXHIBITS
1.
Federal Home Loan Banks--Summary of Lending Operations,
1932-1952.
2.
Federal Home Loan Banks--Comparative Consolidated Statement
of Condition as of December 31, 1952, and December 31, 1951.
3.
Federal Home Loan Banks--Comparative Consolidated Statement
of Operations for the Calendar Years 1952 and 1951.
4.
Federal Savings and Loan Insurance Corporation--Number and
Assets of Insured Savings and Loan Associations, by Type,
December 31, 1952, and December 31, 1951.
5.
Federal Savings and Loan Insurance Corporation- -Statement of
Condition as of December 31, 1952, and December 31, 1951.
6.
Federal Savings and Loan Insurance Corporation--Statement of
Operations for the Calendar Years 1952 and 1951.
9
10
HOME
EXHIBIT
LOAN
BANK
BOARD
1
FEDERAL HOME LOAN BANKS
Summary of Lending Operations
Calendar Year 1952
Federal Home
Loan Banks
Repayments
Advances
Is
Boston
New York
Pittsburgh
Balance
Outstanding
End of Year
43, 867, 700.00
81,926,775.00
39,513,800.00
31,944,618.00
92,856,390.66
31,752,175.00
$ 62,257,168.00
92,732,414.94
73,791,140.00
62,432,075.00
98,847,567.85
56, 255,450.00
50,950,396.66
Greensboro
Cincinnati
Indianapolis
41,107,300.00
19,403,500.00
56,209,883.10
37,065,500.00
26,474,151.71
Chicago
Des Moines
Little Rock
51,033,720.00
38,398,504.50
18,617,000.00
66,157,735.00
28,354,917.98
28,847,269.00
132,566,332.00
62,712,193.02
33,175,593.00
17,153,500.00
172,359,397.18
22,553,390.00
105,345, 77.35
25,449,880.00
175,450,395.83
585,813,271.88 $
527,561,507.80
$864,188,531.30
1951
1950
1949
1948
422,977,074.15
674,756,649.69
255,662,641.50
359,612,776.74
432,997,024.55
292,229,081.73
337,249,580.83
280,168,873.35
805,936,767.42
815,956,717.82
433,429, 149.86
515,016,089.19
1947
1946
1945
1944
351,079,350.99
329,231,890.68
277,748,276.84
239,254,221.89
208,961,931.93
230, 649, 366.93
213,438,982.95
218,759,089.74
435,572,185.80
293,454,766.74
194,872,242.99
130,562,949.10
1943
1942
1941
1940
156,925,588.93
99,461,876.19
157,600,420.85
134,212,165.93
176,070,303.60
189,695,394.41
139,646,335.38
114,033,192.20
110,067,816.95
129,212,531.62
219,446,049.84
201,491,964.37
1939
1938
1937
1936
94,780,586.64
81,958,343.39
123,251,172.91
93,257,057.50
112,310,034.15
83,153,601.22
68,440,498.13
50,715,704.66
181,312,990.64
198,842,438.15
200,037,695.98
145,227,021.20
1935
1934
1933
1932
59,130,068.56
38,675,566.12
90,032,164.49
837,500.00
43,046,971.39
37,515,249.30
5,427,410.12
-0-
102,685,668.36
86,602,571.19
85,442,254.37
837,500.00
$4, 626,258,665.67
$3,762,070,134.37
Topeka
San Francisco
Total - Year
Grand Total
1952
$
HOME
LOAN
BANK
1
BOARD
2
EXHIBIT
FEDERAL HOME LOAN BANKS
Comparative Consolidated Statement of Condition as of Dates Indicated
December 31, 1951
December 31, 1952
t
I.
ASSETS
Cash:
.
On hand - Including Imprest Funds ..
On deposit with:
Treasurer of the United States . . . .
Commercial Banks . . . . . . . . . .
Total Cash . . . . . . . . . . . .
Investment Securities - U. S. Obligations
18,735.00
......
Advances Outstanding:
Secured
Unsecured
Total Advances Outstanding . . . .
9,729, 204.85
26,146,436.68
35,895,301.81
.....
310,937,012.38
249,520,917.81
. . . . .
633,645,902.32
230, 542 628.98
864,188,531.30
596,622,190.42
209, 314 577.00
805, 936, 767.42
. .
3, 292,955.84
378,822.43
12,541.54
3,171,119.14
739,431.70
12,111.14
.. .
$1,221,702,022.26
$1,095,275,649.02
. . .
Accrued Interest Receivable ..........
Deferred Charges . . . . . . . . . . . . . . . . . .
Other Assets .......................
Total Assets.
....
. . . . . . .
..
19,660.28
14, 795,564.95
28,077, 858.82
42,892,158.77
. . . . . .
. . . . . .
. . . . . .
..
$
LIABILITIES AND CAPITAL
Liabilities
Deposits:
Members - Time . . . . . . .
.
Members - Demand. .....
Applicants for Membership . .
Total Deposits.
. . .
. . . . . . . . . . .
.
. . . . . . ..
. . . . . . . . . . .
. . . . . . . . . ..
$
.......
...
$
217,258,088.99
43,977,691.13
471, 100.00
261,706,880.12
4,431,358.75
2,126,375.65
32,218.20
4,009, 729.93
2,799,493.33
8,910.69
28,290.34
445,050, 000.00
Accrued Interest Payable . . . . . . . . . . . . . . .
Dividends Payable . . . . . . . . . . . . . . . . . . .
. . . . .
Accounts Payable ...
. . . . . .
.
Deferred Credits .....................
Consolidated Obligations (Net)
. . . . . . .
Total Liabilities . ....
352,605,193.53
67,055,922.01
243,725.00
419 904,840.54
-0
524,500,000.00
$
871,801,264.83
$
792,796,832.72
$
315,686,500.00
$
271,374,700.00
723,075.00
270,651,625.00
Capital
Capital Stock:
Stock Subscribed by Member Institutions . . . . . .
Less: Unpaid Subscriptions. . . . . . . . . . . . .
Total Paid-in on Subscriptions .....
.
Surplus-Earned:
Legal Reserve. ....
. .
Reserve for Contingencies .
. . .
Undivided Profits ....
Total Earned Surplus
Total Capital
. . . .
. . .
. . .
. . .
.
.
.
.
.
.
.
. . . .
. . .
. . .
. . .
198,625.00
315,487,875.00
17,460,692.14
. ..
. . . . .
. . ...
. . . .
. . . . . . . ...
Total. Liabilities and Capital . . . . . . . .
15, 735,676.93
5,510, 758.42
10,580,755.95
31,827,191.30
4,831,259.91
12,120,930.38
34,412,882.43
$
349,900,757.43
$
302,478,816.30
$1,221,702,022.26 1$1,095,275,649.02
1/ Consolidated Federal Home Loan Bank Obligations issued by the Home Loan Bank Board and
now outstanding are the joint and several obligations of all Federal Home Loan Banks.and are
not guaranteed by the United States or by any agency thereof. The amounts shown represent
total unmatured obligations less amounts acquired in the open market and held by some
of the Federal Home Loan Banks.
12
HOME
EXH
IBIT
LOAN
BANK
BOARD
3
FEDERAL HOME LOAN BANKS
Comparative Consolidated Statement of Income and Expense
for the Calendar Years Indicated
----- --
-
-
I-
I
-
Year ended
December 31,1951
Year ended
December 31, 1952
-
--
---
Earned Operating Income:
Interest on Advances . . . .
Interest on Securities ..
.
Miscellaneous . . . . . . .
Total Operating Income
-i
---
i
I
-
$17,026,155.12
7,036,210.84
5,234.71
24,067,600.67
$17,089,441.76
4,879,682.27
5,588.93
21,974,712.96
1,118,316.50
103,105.46
414,962.45
7,642,736.01
352,498.97
1,044,478.85
103,737.10
394,144.86
10,224,127.90
533,019.16
67,327.19
5,470, 140.04
5,698.87
389, 861.00
70,134.04
2,958,732.30
8,350.88
392,789.00
15,564,646.49
15,729,514.09
. .....
$ 8,502,954.18
$ 6,245,198.87
Non-Operating Income:
Profit - Sales of Securities ........
Furniture and Equipment Sales ......
Miscellaneous .. . . . . . ......
Total Non-Operating Income .....
264,305.62
667.20
1,463.08
266,435.90
88,096.38
3,650.40
974.86
92,721.64
128,089.35
16,224.69
16,670.15
26, 101.19
Total Non-Operating Charges . . .
144,314.04
42,771.34
. ..
$ 8,625,076.04
S6,295,149.17
.
.
.
.
.
.
.
.
.
. .
.
.
. . . .
. . .
....
. . .
Operating Expenses:
Compensation ....
. .....
.....
Travel ..
. . . . . . . ..........
Other Administrative Expenses ..
. ..
Interest on Consolidated Obligations .
Concessions on Consolidated Obligations
Paid Through Office of Fiscal Agent..
Interest on Members' Deposits ......
GAO Audit Expense . . . . . . . ...
.
Assessment for Expenses of HLBB . ..
Total Operating Expenses ......
Net Operating Income ..
.
.
Non-Operating Charges:
Loss - Sales of Securities . . . . . . . .
Furniture and Equipment Purchased..
Net Income ..........
HOME
LOAN
BANK
13
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HOME
LOAN
15
BOARD
BANK
EXHIBIT
5
FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION
Statement of Condition as of Dates Indicated
7
1
Items
December 31,
1952
-
-- '---
December 31,
1951
ASSETS
Cash.................
............
.........
$
Accounts receivable:
Insurance premiums - payments due...........
Insurance premiums - payments deferred......
Admission fees receivable...................
M iscellaneous...............................
Total ..............
............
.......
Investments:
U. S. Government securities (par value) .......
Net unamortized premium and discount on
investments ...............................
Total ....................................
Accrued interest on investments.................
Pending and unclaimed insured accounts in
liquidated institutions.........................
Less: Allowance for losses ..................
Total...................................
1,208,240.82
240,915.33
2,868,250.64
2,561.01
4.00
3,747,756.84
3,111,730.98
208, 740, 000.00
199, 990,000. 00
442, 817. 65
208,406. 33
208,297, 182.35
199, 781, 593.67
290,758.57
994, 254.36
7, 046.38
596.23
7, 046. 38
596.23
6,450.15
6,450. 15
55, 347. 10
55, 347. 10
56,596.60
56,596.60
-0
-0
140,131.35
361.06
143,108.91
722.12
140,492.41
143,831.03
T otal ....................................
Deferred charges:
Home Loan Bank Board ......................
Fidelity bond and other insurance premiums....
......
Other assets ................................
Total assets ............
969, 298. 94
-0
Furniture, fixtures and equipment ...............
Less: Allowance for depreciation .............
... ............
3,203,906.61
273, 179.09
3,473, 344. 76
1, 226.99
6.00
Assets purchased from insured institutions to
prevent default..............................
Total.............................
$
431.10
720.32
213,691,312.24
208,211,786.06
34.08
32, 274.73
2,477,974.84
876,974.79
18,385.63
887,573.22
19,293.03
7, 046. 38
8, 132.84
7, 046.38
8, 132.84
942,848.45
3,400,020.31
6, 508,416. 79
214.41
5,409,175.34
9. 06
6,508,631.20
5,409,184.40
85, 755,000.00
93, 284,000.00
.
112, 944, 153.51
7, 540,679.08
99, 761,632.55
6,356,948.80
..
120,484,832.59
106,118,581.35
$213, 691, 312.24
$208,211,786.06
.
LIABILITIES AND CAPITAL
Liabilities:
Accounts payable . ..........................
Accrued liabilities.........................
Accrued payments in lieu of dividends on
capital stock...............................
Deductions from employees' salaries ..........
Pending and unclaimed insured accounts in
liquidated institutions. ......................
Custodial funds - receiverships ...............
.
Total....................................
Deferred credits:
Unearned insurance premiums ................
Prepaid insurance premiums .................
........
Total.................
Capital:
Capital stock ...................
....
......
.........
Reserve fund as provided by law ..............
Unallocated income......................
Total ............
. ..
.
... ..........
Total liabilities and capital ................
.J. ________________
-0
L
16
HOME
EXHIBIT
LOAN
BANK
BOARD
6
FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION
Statement of Operations for the Calendar Years 1951 and 1952
1
"-~-~--~--~~I-~-~~-~--~~--'T~---~~~
--
-~--p--~---"I
January 1, 1952
through
December 31, 1952
Items
Total operating income .......................
January 1, 1951
through
December 31, 1951
I-4--
+
Operating income:
Insurance premiums earned .....................
Admission fees earned .........................
Interest earned on U. S. Government securities...
Miscellaneous..................................
--
$12,026, 721.41
98, 590.77
4, 813, 143.88
3.25
$10, 125,281.36
161, 137.40
4, 515, 070.95
6.57
16, 938, 459. 31
14,801, 496. 28
Operating expenses and losses:
Administrative expenses. .......................
Liquidation and other expenses ..................
Services rendered by Home Loan Bank Board.....
Depreciation of furniture, fixtures and equipment.
Losses on subrogated accounts ..................
430, 373.65
39.87
284, 799.45
4,475.15
-0
489, 734.12
5,838.98
144, 187.31*
4, 764.30
112.55
Total operating expenses and losses ...........
719, 688. 12
644,637.26
16, 218, 771.19
14, 156, 859.02
Net income from operations ..................
Nonoperating income:
Gains on assets purchased from insured
institutions .................................
Sale of furniture, fixtures and equipment.........
Miscellaneous .................................
Total nonoperating income. ...................
Nonoperating charges:
Loss on sale of securities ......................
Commission on securities ......................
33,837.69
-0
-0
375.02
14, 158, 610. 25
-0
132, 155.25
-0
114.12
-0
132,269.37
16, 230, 140. 68
14, 290, 879.62
1, 863, 889.44
1, 762, 573.22
14, 366, 251. 24
12, 528, 306.40
I
* Classified as administrative expenses prior to June 30, 1951.
2, 126.25
16, 230, 140. 68
Net adjustment of valuation reserves ..........
Net income......................................
45,207. 18
984. 00
1,142.25
375.02
Adjustment of valuation reserves:
Provision for losses on assets purchased from
insured institutions ...........................
Provision for losses on pending and unclaimed
insured accounts in liquidated institutions .......
Net income before payment of return on capital
stock ..........................................
Provision for return on capital stock in lieu of
dividends ......................................
-0
33, 837.69
Total nonoperating charges ...................
Net income before adjustment of valuation reserves..
43, 333. 70
1, 768.50
104.98
@FedFRASER