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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 12, 1951 1 l r RESERVE 11 CONDITION OF THE FEDERAL BANKS I ' 7l>" *1 " Member Bank Reserves and Related Items During the period ended July 11, 1951, Member bank reserves increased $175 million. The principal changes supplying reserves were an increase of $297 million in Reserve Bank credit, and a decrease of $55 million in Money in circulation. The principal offsetting changes were increases of $74 million in Treasury deposits with Federal Reserve Banks, $55 million in Foreign deposits with Federal Reserve Banks, and $38 million in Other deposits with Federal Reserve Banks. The increase of $297 million in Reserve Bank credit resulted from increases of $127 million in Float, $115 million in U. S. Government securities, and $55 million in Loans, discounts and advances. Holdings of U. S. Government securities reflected increases of $115 million in bills and $1,000 million in notes, and a decrease of $1,000 million in bonds. During the period $1,000 million of 2 - 3 A per cent Treasury bonds, Investment Series B-1975-80, were exchanged for a like amount of 1-1/2 per cent Treasury notes due April 1, 1956. This exchange was made as a step toward providing a better balanced distribution of maturities in the System Open Market Account. Member Bank Reserves and Related Items July 11, 1951 Change since July 12 July 3, 1951 ,1?50 (In millions of dollars) Reserve Bank credit: U. S. Government securities Loans, discounts and advances Float Total Gold stock Treasury currency outstanding 23,092 242 933 24,267 21,757 +115 + 55 +127 +297 + 1 + 2 +4 ,798 + 174 + 537 +5 ,510 -2> 5 0 + 50 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) 27,893 - 55 + 9 + Member bank reserves Required reserves (estimated) Excess reserves (estimated) Daily average excess reserves (estimated) 4,656 1,296 253 910 197 + 74 - - 724 13 130 270 80 36 - 768 + 55 + 38 + 4 19,364 +175 +2 ,916 18,440 924 -137 +312 +2 ,896 + 20 82 6 +220 - - 181 B.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (la thousands of dollars) Change sineft July 12, July 3, 1950 1951 July 11, 1951 A S S E T S Gold certificates Redemption fund for F. R. notes Total gold certificate reserves 19,845,401 666,035 20,511,436 - + - 13,000 - 12,657 343 - + 2,585,027 139,503 2,445,524 Other cash 304,248 + 13,531+ + 79,960 Discounts and advances Industrial loans U. S. Government securities: Bills Certificates Notes Bonds Total U. S. Government securities 236,307 + 55,217 39 + + 171,464 2,994 115,000 - 5,665 - 637,550 3,193,792 13,439,248 5,822,102 23,092,692 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 23,331+,664 + 38 139,014 3,298,995 41,768 + 170,178 21,190 20,575 150 + 4,973,425 + 14 + 15,927 + 369,116 + 6,455 4,199 188,333 + 3,079,648 — 80,275 23,730,214 - ii+,725 19,364,246 + + + + + 174,773 73,929 55,875 37,884 345,461 147,322 20,724,066 2,366,359 13,590 46,834,229 231,971 510,022 27,51+3 188,774 47,792,539 - + + 410,702 + 4,798,967 47,792,539 910,377 196,939 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + + + 252,504 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS +1 ,000,000 -1 ,000,000 115,000 3,195,025 + 362,742 + 7,220,548 — + 162,376 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 + 867 181,281 203 + — + 760,851 + 2,915,759 130,204 269,51+9 80,359 + 2,435,647 167,424 + 3,567 + 3,032,641 - - + + 12,205 21,849 — -- + + 46.1# - 27,537 3,704 - + 6,81# 188,335 + 12,953 + 3,079,648 .Wo 552 323 9*5% + 21,696 + 2,313 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 11, 1951 (Callable Government securities classified according to nearest call date) Discounts and advances Within 15 days l6 to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total 220,563 15,680 64 Industrial loans U. S. Government securities 271 1,015 3,725 651+ 269,513 1,973,620 11,828,909 37555" 23,092,692 4,878,166 .1,031,904 3,110,580 236,307'. H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 11, 1951 (In thousands of dollars) A S S E T S Total Gold certificates Redemption fund for F. R. notes . 19,845,401 Total gold certificate reserves 666,035 Boston New York 635,257 6,567,776 60,669 58,398 Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. 1136,905 1424,682 821,752 811,185 4l4l,8l8 483,841 305,697 681,021 452,932 2382,535 56,242 75,849 63,863 48,683 111,945 46,445 23,931 36,037 28,483 55,490 20,511,436 695,926 6,626,174 1193,147 1500,531 885,615 859,868 4253,763 530,286 329,628 717,058 481,415 2438,025 other cash 304,248 32,597 Discounts and advances 236,307 11,778 Industrial loans 5,665 — U. S. Govt, securities: Bills 637,550 8,479 Certificates 3,193,792 226,692 Notes 13,439,248 953,904 Bonds 5,822,102 413,247 51,044 125,375 25 215,409 714,174 3,005,191 1,301,897 17,149 19,485 3,899 21,893 15,850 444 37,787 56,097 200,953 298,332 845,597 1255,361 366,327 543,842 16,129 6,880 125 25,731 755 234 57,535 3,500 — 15,446 2,971 --- 7,218 150 11,199 5,735 — 14,205 1,475 4o 34,102 4o,227 748 39,932 32,405 89,575 22,771 19,065 28,276 28,738 59,016 2,276 212,365 172,334 476,370 174,122 101,390 150,377 152,829 313,854 893,616 725,168 2004,531 732,695 426,642 632,773 643,095 1320,675 387,129 314,155 868,396 317,415 184,829 274,128 278,599 572,138 Total U. S. Government securities 23,092,692 1602,322 5,236,671 1450,664 2153,632 1533,042 1244,062 3438,872 1247,003 731,926 1085,554 1103,261 2265,683 Total loans and securities 23,334,664 l6l4,100 Due from foreign banks 38 F.R.notes of other banks 139,014 Uncollected cash items 3,298,995 Bank premises 41,768 Other assets 162,376 TOTAL ASSETS 47,792,539 2 4,682 297,362 1,045 11,906 5,362,071 1474,o48 2169,926 1540,04? 1245,051 3442,372 1249,974 733,551 1091,289 1105,577 2306,658 l/ 12 25,534 625,157 7,574 36,187 3 9,128 191,317 2,887 9,993 4 2 2 5 1 4,717 15,310 3,462 10,790 2,409 5,834 24,227 3,394 8,553 6,432 22,858 13,529 14,134 8,076 277,495 261,269 212,074 588,439 148,205 8,585 1 6,010 99,799 1,099 5,078 1 7,543 166,847 2,527 7,979 1 7,099 137,710 664 7,628 4 14,989 293,321 6,156 16,140 2657,620 12,732,753 2897,672 3996,308 2740,172 2367,249 8386,309 1963,935 1182,384 2004,443 1754,29$ 5109,395 1/ After deducting $26,000 participations of other Federal Reserve Banks. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 11, 1951 (in thousands of dollars) E.4.1(c) Mple. Kans.Cy. Dallas SanFran. Phila. Cleve. Rich. Atlanta Chicago St.Louis New York Total Boston L I A B I L I T I E S 609,765 921,079 639,210 2392,167 23,730,214 1470,115 5,313,330 1677,639 2154,301 1595,685 1277,640 4596,107 1083,176 Federal Reserve notes Deposits: Member bank-reserve accts. 19,364,246 843,430 6,295,751 907,923 1434,799 809,903 810,817 3092,397 676,806 423,756 868,252 909,H7 2291,295 10,068 24,402 19,851 20,476 32,150 15,298 23,138 17,674 15,909 12,355 45,923 15,260 U.S.Treasurer-general acct. 252,504 33,415 33,415 84,000 71,345 83,988 45,155 37,930 124,628 33,415 22,578 Foreign 910,377 55,992 1/284,516 1,688 2,019 489 33,647 5,840 2.556 2.908 6,488 2.429 5.203 129,098 4,574 196.939 Other Total deposits Deferred avail, cash items Other liabilities and accrued dividends TOTAL LIABILITIES Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 20,724,066 919,256 6,755,288 383,572 2,366,359 205,883 13,590 1,363 3,954 991,765 1540,392 880,749 871,779 3252,083 732,007 471,160 921,360 958,930 2421,297 153,810 203,706 211,620 173,962 403,354 109,123 74,664 123,127 117,648 205,890 719 1,144 703 630 1,971 624 457 477 495 1,053 46,834,229 2596,617 12,456,144 2823,933 3907,543 2688,757 2324,011 8253,515 1924,930 1156,046 1966,043 1716,283 5020,407 5,263 8,730 10,506 24,602 16,387 22,212 10,156 9,509 29,589 7,866 231,971 12,335 74,816 13,168 19,047 16,852 44,519 39,710 48,014 25,167 22,369 75,345 20,295 510,022 32,246 153,290 1,073 1,137 1,307 2,140 4,489 1,006 3,349 762 1,429 521 27,543 3,011 7,319 6,834 9,486 9,351 17,727 13,153 17,533 12,743 10,598 26,431 10,323 188,774 13,411 4l,l84 47,792,539 2657,620 12,732,753 2897,672 3996,308 2740,172 2367,249 8386,309 1963,935 1182,384 2004,443 1754,299 5109,395 27,537 3,704 1,707 — 2/8,453 — 2,176 1,027 2,561 974 1,377 48 1,157 3,800 489 1,019 688 1,019 470 1,019 2,561 696 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U.S. Govt, securities Total collateral 24,783,395 1520,018 5,600,649 1753,931 2272,027 1664,577 1372,497 4676,175 1144,378 623,224 954,077 686,928 2514,914 700,000 775,000 480,000 510,000 2560,000 250,000 150,000 280,000 159,000 1500,000 5,600 — 40,227 1,475 19,485 — 6,280 — -2,971 700,000 545,000 1200,000 490,000 1100,000 1500,000 1215,000 900,000 2200,000 975,000 1,200,000 13,225,000 1200,000 2 5 , 6 2 1 , 0 9 1 1561,770 5,795,075 1819,405 2275,000 1701,280 1410,000 4760,000 1227,971 651,475™ 905,600 704,000 2740,227 12,184,000 350,000 4,470,000 125,075 212,891 11,778 l/ After deducting $625,848,000 participations of other Federal Reserve Banks. 2/ After deducting $19,084,000 participations of other Federal Reserve Banks.
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