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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) March 8, 1951 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended March 7> Member bank reserves decreased $62 million. The principal changes reducing reserves were a decrease of $135 million in Gold stock, and increases of $31 million in Money in Circulation, $30 million in Treasury deposits with Federal Reserve Banks, $l6 million in Foreign deposits with Federal Reserve Banks, and $15 million in Treasury cash holdings. The principal offsetting changes were a decrease of $123 million in Other deposits with Federal Reserve Banks, and an increase of $38 million in Reserve Bank credit. The increase of $38 million in Reserve Bank credit resulted from an increase of $298 million in U. S. Government securities, and decreases of $190 million in Loans, discounts and advances and $69 million in Float. Holdings of U. S. Government securities reflected increases of $199 million in "Bonds and $103 million in notes, and a decrease of $4 million in bills. Member Bank Reserves and Related Items March 1951 Change since Feb. 28, March 0, 1951 3-95Q (In millions of dollars) Reserve Bank credit: U. S. Government securities Loans, discounts and advances Float Total Gold stock Treasury currency outstanding +4,333 22,179 211 +298 -190 836 - 69 23,226 21,951 4,639 + 38 -135 - 1 +4,863 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) 27,219 + 495 855 210 724 + 31 + 15 + 30 + 16 -123 - 5 Member bank reserves 19,004 - 62 +2,746 18,373 631 - 32 - 30 +3,112 Required reserves (estimated) Excess reserves (estimated) Daily average excess reserves (estimated) 1,308 575 + 121 + 4o8 -2,394 + 38 + - 114 l4 62 43 - 346 15 - 366 - 244 H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 26, Mar. 6, 1950 : 1951 Mar. 7, 1951 A S S E T S Gold certificates Redemption fund for F« R. notes Total gold certificate reserves 20,115,402 20,710,19% - 142,001 " 25 - 142,026 - 2,467,028 + 56,871 - 2,410,157 Other cash 340,215 - 18,823 + 53,347 Discounts and advances Industrial loans U. S, Government securities: Bills Certificates Notes Bonds Total U, S. Government securities 207,314 3,7^4 - 190,243 + 138 + + 120,027 1,277 - iSB + 102,900 - 2,421,552 - 5,835,050 +13,801,383 + 198,400 V 297:866 - 1.211,825 + t.332,95b 22,389,888 24 144,719 3,264,075 40,393 158,651 47,049,159 + 107,761 - 320,150 + 4,454,260 9 + 36,746 + 768,341 + 6,139 + 36*408 + 2,945,075 23,132,480 + 22,629 + 19,004,476 494,612 855,249 210,180 20,564,517 2,428,168 11,183 46,136,340 - 61,689 + 2,746,731 + 29,471 + 16,369 1,523,172 15,063,883 Total loans and securities Due from foreign banks F. R. notes of other banks Uncollected c«sSi its#*Bank premises Otj^r assets TOTAL ASSETS 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 I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section ljb) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 3,434 + 903 - 278,334 13 + 10,382 - 123,146 - 138,995 - 208,828 + 198 - 324,996 227,997 81 27,543 146,249 47,048,159 4,765 320,150 510,022 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 47.4# 30,584 2,802 137,865 + 61,620 + + 13,296 21,849 42,488 346,411 + 2,419,452 + 359,921 234 + 2,917,004 7,074 + 2,945,075 .2 932 135 8.8$ 4 22,861 4- 1,703 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 7, 1951 (Callable Government securities classified according to nearest call date) IlBr,.,. Over 5 years to 10 years Discounts and advances — Industrial loans U. S. Government securities 4 f| " - r i f f - nik 9=;n H.4.1(b) STATEMENT OF CONDITION OF THE F E D E R A L R E S E R V E BANKS ON M A R C H 7 , (In thousands o f dollars) A S S E T S Gold certificates R e d e m p t i o n fund for F . R. notes T o t a l gold certificate reserves Other c a s h Discounts and advances I n d u s t r i a l loans U . S . G o v t , securities Bills Notes Bonds Total Boston 20,115,402 755,240 m . 53,028 20,710,194 808,268 Rich. 6,578,333 1152,590 1393,511 822,533 22,389,888 1486,215 Due from foreign b a n k s 24 F . R . n o t e s of o t h e r b a n k s 1 4 4 , 7 1 9 Uncollected cash items 3 , 2 6 4 , 0 7 5 B a n k premises 40,393 Other assets 158,651 2 ^^99 258,666 l,p64 — 47,048,159 2606,172 371,521 722,845 Q9r032 42,349 21,811 34.749 880,038 4186,447 630,078 393,332 757,594 56,465 17,260 13,353 17,700 6,790 8,067 178 11,776 6,428 82,189 240,808 812,832 2246,853 301.726 834,041 11,690 821,268 304,858 48,355 478,218 177,516 71,717 709,268 263,283 43,720 29,695 23,026 21,544 9,625 26,946 1,958 127 30 101,280 95,838 142,280 1001,643 947,820 1407,117 371.814 351,834 522,328 5,1X1,224 1395,492 2071,725 1474,737 Mpls. Kans.Cy. 587,729 883,197 20,858 28,510 2,645 Chicago St.Louis 836,318 4087,415 6,625,696 1201,421 1464,146 492,350 3,368,480 1,250,394 48.831 Atlanta 60,664 14,097 1,523,172 15,063,883 1069,219 396,899 5.591,775 T o t a l loans a n d securities Phila. 70.635 hi 36,439 6,000 340,215 207,314 3,#4 22,178,830 1480,215 Cleve. 60,472 80,240 26 Total U.S.Government securities TOTAL ASSETS New York 1951 Dallas S a n F r a n . 512,675 2294,692 25,185 47,42; 537,860 2342,117 12,411 3,000 43,466 5,500 738 72,886 149,682 720,837 1480,328 267.578 549,504 1196,747 3321,702 1137,816 704,089 1044,268 1061,301 2179,514 5,191,490 1426,647 2094,751 1484,489 1198,735 3338,962 1155,516 712,334 1050,696 1064,301 2185,752 l! 11 :15 Hit II 1 3,829 90,277 1,109 4,964 12,546,682 2880,232 3923,151 2687,607 2368,399 1 7,318 166,672 2,591 7,641 1 6,671 156,639 671 7,475 2 13,441 273,410 6,069 15,593 8191/467 1961,645 1212,636 2004,289 1766,029 4879,850 1 / A f t e r deducting * 1 7 , 0 0 0 participations o f otler Federal Reserve B a n k s . wc) T T A g T L I T I E S Federal Reserve notes D STATEMENT OF CONDITION OF THE h & E R A L RESERVE BANKS OK MARCH 7, 1951 (in thousands of dollars) Total 2mhei 3 bank-reserve accts. 19,004,476 U.S.Treasurer-general acct, 494,612 vorltan 855,249 Other 210,180 Total deposits Deferred avail, cash items °a^uedadiiidendsand 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 Boston 23,132,480 l4o6,o87 New York 8 3 8 , 3 8 8 6,194,850 39,377 71,526 52,638 1 / 266,880 3,958 143,352 20,564,517 2,428,168 934,361 207,249 11,183 701 Phila. Cleve, Rich, Atlanta Chicago St.Louis 5,208,055 1636,305 2073,149 1568,136 1252,166 4475,853 1073,924 Mpls. Kans.Cy. 912,484 621,186 2298,712 606,423 Dallas SanFran, 888,007 1400,202 60,121 53,947 67,071 78,957 1,025 5,604 768,6l4 38,441 42,450 3,671 820,584 3015,207 41,430 46,445 35,658 117,162 491 4,349 676,537 24,838 31,413 6,560 452,369 39,998 21,225 1,469 862,728 29,197 31>13 2,247 935,832 2 1 5 1 , 1 5 8 28,069 21,223 31,413 78,969 874 36,580 6 , 6 7 6 , 6 0 8 1016,224 1538,710 . 392,363 156,534 225,626 853,176 217,156 898,163 3183,163 176,733 404,544 739,348 111,686 515,061 65,905 925,585 129,723 996,188 2287,930 132,75 207,874 273 34l 368 3,517 594 1,281 550 445 1,593 4l8 1,102 46,136,3^8 2548,398 1 2 , 2 8 0 , 5 4 3 2 8 0 9 , 6 5 7 3 8 3 8 , 7 6 6 2 6 3 9 , 0 1 8 2 3 2 7 , 5 0 7 . 8 0 6 5 , 1 5 3 1 9 2 5 , 2 3 1 1 1 8 7 , 7 3 0 1 9 6 8 , 1 6 0 1 7 5 0 , 5 6 7 4 7 9 5 , 6 1 8 227,997 510,022 27,5^3 146,249 12,284 32,246 3,011 10,233 73,770 153,290 7,319 31,760 15,981 39,710 4,489 10,395 21,810 48,014 1,006 13,555 10,105 25,167 3,349 9,968 9,320 22,369 762 8,44l 29,277 75,345 1,429 20,263 7,517 5,208 8,566 10,020 24,139 20,295 13,168 19,047 16,852 44,519 521 1,073 1,137 1,307 2,l4o 8,081 5,457 7,379 7,283 13,434 „ , ^ , n , . - ^ n, 47,048,159 2 6 0 6 , 1 7 2 12,546,682 2 8 8 0 , 2 3 2 3923,151 2 6 8 7 , 6 0 7 2368,399 8 1 9 1 , 4 6 7 1 9 6 1 , 6 4 5 1 2 1 2 , 6 3 6 2 0 0 4 , 2 8 9 1 7 8 6 , 0 2 9 4 8 7 9 , 8 5 0 30,584 2,802 1,896 — 2/9,387 — 2,4l6 1,426 2,84$ 473 1,529 54 1,284 — 4,221 222 1,132 -- 1,132 — 765 — 1,132 490 2,845 137 23,979,665 1481,582 5,386,040 1688,757 2157,7^2 1 6 3 5 , 9 6 6 1334,069 4565,645 1116,292 615,302 937,871 12,769,000 440,000 151,295 6,000 12,040,000 1100,000 t-,960^295 1546^000 2h\ 4,470,000 750,000 7 6 5 , 0 0 0 5 0 0 , 0 0 0 550,000 2710,000 300,000 75,040 28,510 — 9,050 — — 17,700 1,000,000 1000,000 1425,000 1165,000 800,000 1900,000 900,000 5,545,040 1778,510 2190,000 1674,050 1350,000 4610,000 1217,700 190,000 8,067 450,000 648,067 280,000 214,000 1600,000 6,428 — 500 7(^,00^500,000 1100,000 986,428 714,000 2700,500 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding Collateral for F.R. notes: Gold certificates Eligible paper U.S. Govt, securities Total collateral l/ After deducting $$88,357,000 participations of other Federal Reserve Banks. 2/ After deducting $21,197*000 participations of other Federal Reserve Banks, 6 5 8 , 8 9 1 2401,508
@FedFRASER