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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) February 23, 1951 CONDITION OF THE FEDERAL RESERVE B A M S Member Bank Reserves and Related Items During the week ended February 21, Member bank reserves decreased $18 million. The principal changes reducing reserves were decreases of $53 million in Gold stock and $4% million in Reserve Bank credit, and an increase of $25 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $68 million in Treasury deposits with Federal Reserve Banks, $28 million in Foreign deposits with Federal Reserve Banks, and $15 million in Treasury cash holdings. The decrease of $47 million in Reserve Bank credit resulted from a decrease of $98 million in Loans, discounts and advances, and increases of $46 million in U. S. Government securities and $4 million in Float. Holdings of U. S. Government securities reflected an increase of $117 million in bonds, and decreases of $4l million in bills and $30 million in notes. Member Bank Reserves and Related Items Feb. 21, 1951 Changes since Feb. 21 Feb . 14, 1951 1950 (In millions of dollars) Reserve Bank credit: U. S. Government securities Loans, discounts and advances Float Total Gold stock Treasury currency outstanding 21,854 200 1,229 23,283 22,207 4,637 Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) 27,164 1,277 796 888 335 733 5 15 68 28 + 25 1 Member bank reserves 18,934 - 18 +2 ,758 18,352 582 4-126 -144 +2 ,924 787 +184 82 Required reserves (estimated) Excess reserves (estimated) Daily average excess reserves (estimated)" 4- 46 98 - 4- 4 47 - 53 - — +4 ,229 104 + + 858 +5 ,191 - 2 ,138 + 39 4- 4- - - - 44- 4- - 145 34 4l6 3 199 2 166 H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) 21, 1951 Feb. Feb. A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves 20,380,402 591,817 20,972,219 Change; since Feb,,21, 14f 1950 1951 - 50,501 w 2,202,0aS - 2,468 + 53,897 - 52,969 - 2,148,129 Other cash 370,291 + 3,290 + 53,589 Discounts and advances Industrial loans U. S. Government securities: Bills Certificates . Notes JBonds Total U, S. Government securities 196,212 3,628 - 98,123 + + 108 + 101,975 1,442 L I A B I L I T I E S Federal Reserve notes Deposits: * Member bank--reserve accounts U. S, Treasurer--general account Foreign Other Total deposits « Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P Capital Surplus Surplus 14,875,383 5,319,875 21,853,922 22,053,762 24 147,666 3,827,017 40,481 141,063 47,552,523 - 51,615 + 4,332,765 9 - 3,l4l + 33,155 -398,603 + 1,224,648 + 145 6,149 21,961 + 7,594 + -495,299 + 3,524,129 23,086,830 - 9,867 + 18,933,750 795,952 887,736 335,175 20,952,613 2,598,266 12,431 46,650,140 - 17,956 - 68,127 - 28,505 + 24,781 - 89,807 -402,516 + 1,984 -500,206 227,792 510,022 27,543 137,026 47,552,523 + •» — Total loans and securities Due from foreign banks * F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS I T A L A C C O U N T S paid in ~ (Section 7) (Section 13b) Other capital account® TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F, R. note liabilities combined * Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - 41,000 2,094,260 6,284,350 - 30,300 +14,174,783 +117,700 - 1,566,825 + 46,400 + 4,229,348 1,658,664 47.6% 28,510 2,943 - - — — + + + - + + + + 149,301 2,758,137 415,765 2,969 199,110 2,977,761 366,903 1,187 3,495,152 278 4— — 1- + 13,370 21,849 •» m + 4,629 6,242 -495,299 + 3,524,129 - - - 224 + 78 + 8.9# 20,384 1,209 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 21, 1951 (Callable Government securities classified according to nearest call date) Within 15 days 16 to 90 days *91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances Industrial loans 189,022 58 269 2,173 1,128 7,166 24 196,212 3^2r U. S. Government securities 419,108 1,239,556 12,249,985 4,184,173 986,700 2,774,400 21,853,922 H.4.1(b) STATEMENT OP CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1951 (In thousands of dollars) A S S E T S Total Gold certificates Redemption fund for F. R. notes Total gold certificate reserves Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpla. Kans.Cy. Dallas SanFran. 20,380,402 767,346 6,493,320 1171,508 1412,499 818,821 872,726 4136,147 620,632 375,623 762,691 557,324 2391,765 591,817 53,142 47,698 49,039 70,764 56,448 43,821 99,186 42,391 21,827 34,783 25,218 47,500 20,972,219 820,488 6,541,018 1220,547 1483,263 875,269 916,547 4235,333 663,023 397,450 797,474 582,542 2439,265 Other cash 370,291 36,775 Discounts and advances 196,212 4,750 Industrial loans . 3,628 U. S. Govt, securities; — — «• Bills 1,658,664 Notes 14,875,383 1054,040 Bonds 5,319,875 376,949 65,090 67,375 26 23,287 5,755 2,525 33,230 13,087 - - - 24,702 10,500 125 27,444 9,310 30 59,884 20,275 17,911 25,950 --- 7,290 23,172 184 12,480 9,338 14,485 2,700 - - - - - - 47,713 4,000 738 8,460 47,699 78,096 79,371 162,997 561,935 104,363 154,936 110,290 89,500 261,017 802,661 2218,738 810,991 472,234 700,392 711,817 1461,804 989,109 3,328,129 935,959 1389,509 168,885 250,482 254,566 522,784 290,034 793,486 287,055 496,930 1,190,243 334,727 353,734 Total U.S.Government securities 21,853,922 1430,989 5,-080,30? 1375,049 2041,375 1453,133 1179,216 3273,241 1109,485 688,818 1028,970 1045,754 2147,585 Total loans and securities" 22,053,762 1435,739 5,147,708 1383,329 2054,462 1463,758 1188,556 3293,516 1135,435 712,17% 1038,308 1048,454 2152,323 Due from foreign "banks 24 F.R.notes of other banks 147,666 Uncollected cash items 3,827,017 Bank premises 4o,48l Other assets l4l.o63 TOTAL ASSETS 2 4,062 345,013 1,069 10.156 1/ 7 2 2 1 1 3 1 1 1 1 2 18,068 5,578 7,062 40,145 16,492 13,349 8,076 4,469 6,305 6,742 17,318 735,511 252,659 378,753 259,114 261,636 653,329 156,261 101,067 187,302 166,755 329,617 7,638 2,915 4,778 2,941 1,959 5,211 3,504 1,112 2,607 6?4 6,073 31.334 8,677 13,520 9,609 7,545 20,801 7,524 4,446 6,846 6,740 13,865 47,552,523 2653,304 12,546,374 2896,994 3975,070 2675,539 2420,180 8281,426 1991,735 1228,009 2051,323 1826,393 5006,176 1/ After deducting $17,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1951 (in thousands of dollars) H.4.1(c) Mpls. Kans.Cy. Dallas SanFran. Rich. Atlanta Chicago St.Louis Total Boston New York Phila. Cleve. LIABILITIES £3,086,830 1408,32? 5,210,707 1643,291 2072,917 1558,356 1237,298 4485,916 1069,891 602,084 904,465 613,945 2279,633 Federal Reserve notes Deposits: Member bank-reserve accts. 18,933,750 847,642 6,040,875 879,653 1388,531 773,676 824,754 2991,606 688,683 448,617 887,583 930,191 2231,939 64,212 59,100 97,582 49,317 79,249 120,664 49,668 53,870 50,546 66,966 50,591 U.S.Treasurer-general acct. 795,952 54,1§7 1/277,884 69,520 81,840 44,000 36,960 121,440 32,560 22,000 32,560 32,560 81,852 887,736 54,560 Foreign 1,598 1,211 909 34,001 526 3,055 5,429 276,365 1,419 4,536 1,973 335,175 4,153 Other 20,952,613 960,542 6,659,336 1009,692 1572,489 868,966 941,489 3236,765 776,340 526,085 971,900 1030,626 2398,383 Total deposits 408,480 173,486 244,987 199,741 200,538 432,301 109,301 73,872 138,878 146,352 243,729 Deferred avail, cash items 2,598,266 226,601 Other liabilities and 512 1,019 374 283 1,375 603 1,105 618 3.982 12,431 J2&. 458 1,587 accrued dividends 46,650,140 2596,088 12,282,505 2827,072 3891,498 2627,578 2379,783 8156,569 1955,815 1203,416 2015,617 1791,435 4922,764 TOTAL LIABILITIES 5,203 8,553 9,982 24,117 73,763 15,944 21,8O4 io,O84 9,303 29,243 7,515 Capital paid in 227,792 12,281 44,519 13,168 19,047 16,852 153,290 39,710 48,014 25,167 22,369 75,345 20,295 510,022 32,246 Surplus (Section 7) 2,140 1,073 1,137 1,307 7,319 4,489 1,006 3,349 762 1,429 521 3,011 Surplus (Section 13b) 27,543 12,636 5,149 6.969 6,817 29,497 9,779 12,748 9,361 7,963 18,840 7,589 137,026 Other capital accounts 2jM TOTAL LIABILITIES AND 47,552,523 2653,304 12,546,374 2896,994 3975,070 2675,539 2420,180 8281,426 1991,735 1228,009 2051,323 1826,393 5006,176 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 28,510 2,9^3 1,768 2/ 8,751 2,252 1,557 2,652 473 1,425 54 1,197 3,935 224 1,055 713 1,055 495 1,055 2,652 i4o FEDERAL RESERVE AGENTS' ACCOUNTS ,F.R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U.S. Govt, securities Total collateral 23,927,826 1478,164 5,367,830 1687,726 2156,427 1629,595 1320,826 4569,401 1109,330 613,014 934,192 656,164 2405,157 214,000 1600,000 12,769,000 440,000 4,470,000 750,000 765,000 500,000 550,000 2710,000 300,000 190,000 280,000 9,338 65,175 5,755 — 10,200 — — 25,950 23,172 144,340 4,750 12,040^000 1100I000 1,000,000 1000,000 1425,000 1165,000 800,000 1900,000 900,000 450,000 700,000 500,000 1100,000 24,953,34o 1544,750 5,535,175 1755,755 2190,000 1675,200 1350,000 4610,000 1225,950 663,172 989,330 714,000 2700,000 l/ After deducting $609,840,000 participations of other Federal Reserve Banks. 2/ After deducting $19,759,000 participations of other Federal Reserve Banks.
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