H.4.1 Factors Affecting Reserve Balances of Depository Institutions

'TBRNGRS OF THE FEDERAL RESERVE SYSTEM .' ror Publication Friday Morning, "May 2I4; not earlier) May 23, I9U6 " * " CONDITION OF THE :FEDERAL RBSBRVB BANKS During the week ended May 22, member bank reserve balances decreased $11*7*000,000* ^Reductions in member bank reserves arose-'from decreases -of £120,000,000 in Reserve Bank credit and $2,000,000 in Treasury currency, and in creases of $50,000,000 in Treasury deposits with Federal Reserve Banks and 811,000,000 in money in circulation, offset in part by decreases of $3,000,000 in Treasury cash and•$U1,000,000 in nonmember deposits and other Federal Reserve accounts, Excess reserves of member banks on May 22 were estimated to be approxi mately $700,000,000• ' Holdings qf'-loans, discounts and advances increased $17,000,000 while hold ings of United States Government securities decreased £17,000,000. The decrease in holdings of-United-States Government securities reflects *a decrease of 526,000,000 in bills and anincrease of $9,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the^ year ended May 22, lgl;6,. were.as follows: Increase or decrease since May 22, May 15, May 23, 19U6 19U6 • .J9k5 (In millions of dollars) U. S # Government securities 22,6^3 - 17 +1,711.4 Loans, discounts and advances- • 16k + 17 - 565 Other Reserve Bank credit 325 - 120 + .3 Total Reserve Bank credit 23.132 -*120 +1,152 Gold stock ' • • ' , 20,2145 ;. — - 26 Treasury currency U/532 -:. + 390 • " 2 Member bank reserve balances 15,505 - 1U7 +' 386 Money in circulation d/,901 + 11 +1,562 Treasury cash- * * . •• - • . 3 - 57 Treasury deposits with F # R. Banks ; 562 + 56 + 36 Honmember deposits and other F. R. ccounts 1,619 - Ui - Li 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

fit !*• 1(a) :• *• STATEMENT OF CONDITION - OF THB.irWELVB FEDERAL RESERVE BANKS C&MBJNED (In: thousands of dollars) } ;i Increase or decrease si nee Kay 22, May 15, May 25, 1916 I9I46 19U5 A;S S E TS Gold certificates .'. 0 17,3l|6,055 - 5 - 33,1+05 Redemption fund for F,; R. notes ' 71+7,1+1+5 166 * 63,752 Total gold certificate reserves 18,093,500 - 171 - 19,673 Other cash '•"'. " , „ ,., . . 290,966 6,U38 + 36,078 Discounts and advances. ' 163,082 + 17,956 - 561,082 Industrial loans': i 1,351+ 58 3,238 Acceptances purchased i 13.71-5 3,325 + 13,71+5 U..S.^ Govt, securities:? Bills 13,665,787 25,678 ! + 535,8147 Certificates •" ' : " , 6,335,596 ++ 8,500 + 656,885 Notes •'•:• '• - ' 1,738,200 + 732,350 Bonds 902,91+2 - 212,200 Total !J« S« Government^ securities '..; % ." 22,61+2,5215 17,178 • +1,713,382 Total Xoans aiid securities 22,820,706 - 2,603 1 +1,162,807 Due .from foreign banks, - •' 110 2 : F. R,. notes of other banks - • ' 115-, 80 6 8,333 •• + 28,1+63 Uncollected items1 2,095,99U 378,590 •+ 309,529 Bank promises 33,072 + 51 ' - '1,119 Other, assets , .. .; 56,632 + 1,276 . - 2,999 TOTAL ASSETS * ' U3,506,vq6 - 39li'»8'56 +1,513,081+ L I A B I L I T I E 3 Federal Reserve notes „ .. , • 2^,9^502 - 3,921+ +1,185,155 Deposits: e ' . ~, Member bank - reserve account 15,505,017 11+7,1+12 + 383,369 U S« Treasurer-general account 561; 521* + 57,390 : + 35,292 # Foreign • ' •'•' i • . 660,099 25,637 - 527.11+5 . 1+09,166 1.5,,10.3 ; •+ J+,.566 Other • * • /' • ',- Total deposits 17,135,666 130,812 - 98,918 .., •- Deferred availability, items l,73l+,73l+ 261,619 + 320,li0h • - Other liabilities including accrued dividends .•••-, \ " 12,915 * - \ "22h +_^__i»o62_ TOTAL LIABILITIES 1+2,379,957 396,579 +1,1*08,003 -• C A P I T A L . .A C GO u/N- T,.S Cap 1 ita " l • -' p ' " a • id I - n " - • : " - ' ' • i? ' 'j • ; •\ 101,956 . + .... 65^ •+ 13,359 + 130,202 Surplus (Section 7) .1 358,355 + "•. 263 Surplus (Section 13b) ; 27,1+23 Other capital accounts; - 59,110 + 1,656; - 59,21+3 TOTAL LIABILITIES' .AMD. CAPITAL. ACG0WT3' ^3.506,766 - 59li, 858..' .+1,513,081+ Ratio of gold'"Certificate reserves to deposit and F R. note # ,1%' liabilities combined \ + - 1,3% .3,566 Commitments to make industrial loans : '5,UH + •,.+ 1,353 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.'• STATEMENT OF CONDITION'OF:THE FEDERAL".RESERVE BANKS ON MAY 22, 191*6 ,(In thousands of dollars) ; A S S E TS Total Boston New York Phila. . Cleve. Rich. Atlanta Chicago Si*Louis"'" Minn, Kans.Cy. ' Dallas SanPran. Gold certificates 17,3246,055 734,626 5,n6,657 812,293 1085,712 811,601 934,973 3579.850 557,650 312,803 5Uu,088 2*53,993 21*01,809 Redemption fund for SS>J;S *-* s F' R* n°teS 7li7,aa5^ 58,102 119,559 60,101 ''-76,707 59,276& 1*3,656 , 96,89U 42,570 20,002 31*-890 25,801 110,107 Total goldcertificate I i ^ n il 18,093,500.792,728 5,235,996 8?2,39U 1162,419 870,377 "978,62 3676,744 600,220 332,805 578,978 479*794 2511,916 9 other cash. 290,966 25,999 73,747 19,467 23,107 2o,5oli 22,304 30,626 io,7H 14,863 16,5143 9,-12*9 33,9143 wscounts ana aavanoes l6 ,082 7,698 35,536 7.1*99 32,585 21,115 3,660 28,335 13,930 1.&5 3 735 2 5® { 780 5 4.nau& ^riui loans 1,354 87 1 23I4. 33 -- „",» Acceptances purchased 13,745 — 13,745 U. S.Govi. securities: J?11**. V 13,665,787 835,298 3,1409,963 915,721 1221,856 903,166 723,81*3 1866,547 613,503 366,960 6)43,931 504,850 1658,11*9 .ertiiicaoes 6,335,596 i*2Q,i4$6 1,592,520 478,793 610,796 397,568 317,532 816,600 317,912 180,739 301,925 268,337 632,2*38 1°, ••• •' 1,738,200 115,3149 1436,916 131,357=167,575 109,075- 87,H7 222*,038; .37,221 ..1*9,586 82,836 73,618 173,512 S 902,9142 '59,920 226,961* 68,236 67,050 ' 56,'662 1.5,255 116,381. 15,309 25.756 1*3.051 38.21*2 go.rsh Total U.S. Government . . . • ' c '. securities, 22,61*2,525 1431,003 • 5,666,363 15914,107 2087,277 11*66,1*71 1173,7147 3025,566'1063,9145 623,0143 1071,723 885,0*47 255^,233 Total loans and securities 22,820,706 11*38,788 5,715,4424 1602,840 2119,862 14S7,619 1177,407 3053,901 1077,875 621*,868 1075,1458 887,6312559,013 Due from foreign banks n ' 7 1/37 :- 9 1 '5 1* .15 . ' ^ 3 • 1* ' -3 9 0 0 F.R.notes of other banks 115,806. 3,082 16T222 - 2*,708 14,690 32,752 9,60i4 11,7201. 7>56i: '3,283 4,990 3,960 13,231* : uncollected items 2,095,99*4 12*5,015' 462,585' n&,948 198,753 168,665 1143,209 320,172 89,261 •: 50,9243- 100=<379 83,870 208,594 cank premises 33,072 1,334 8,601 3,266 ' 3,942 2,742 1,553 3,096 2,01*0 1,275 2/568 817 1,833 other assets 56,632 3,575 12,61*1 3,820 6,036 3,691 2,969 7,290 3,,261* . 1,554 . ,3,026 2,617 6,11*9 TOTAL ASSETS 1*3,506,786 21*10,528 11, 525,273' 2625,2*& 3518,319 2586,355 2335,679 7103,562* 1790,939 1019,5924 1782,52*6 11*72,81*1 53324,696 . 1/ After deducting .$73,000 participations of other'Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(c) STATEMENT OF CONDITION OF TH 3ERAL RESERVE BANKS ON 1-1AY 22 ,I9I+6 (In thous 3 of dollars) L I A B I L I T I ES Total Boston Nsv; York Phi la. Cleve. ?a Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas SanFran. Federal Reserve notes 23,946,502 ll+51,ll+l 5,557,885 1607,091+ 2051,1+27 I6I+I4.. 1420,195 1+585,343 101+2,01(1+ 552,769 : 883,781 588,555 2985,666 Deposits: . v,I Member bank-reserve acct. 15,505,017 692,809 l+,855,733 767,280 1136,757 697,11 715,569 2215,260 58l+,79'2 579,542 750,202 744,501+ 1966,581+ U.S.Treasurer-general aoct. 561,521+ 1+3,079 174,791 1+1,451 60,050 29 ,il 20,770 79,531 22,768 13,510 ll+,957 16,928 1+4,590 Foreign 660,099 -1*0,217 l/2i»3»633 51,735 58,021+ 29,on 23,709 83,601+ 21,215 15,598 20,589 19,965 52,1+38 Other 1+09,166- 2,988 ~- 531,018 2,958 l+,795 3,*R - 1,562 5,665 .9,71+8 2,715 595 2,595 45,725 Tofel deposits 17,155,806 779,093. 5,605,175 863,l+7l+1259,60l4 760,^, 761,1+10 2380,060 658,521 1+11,165 786^121 735,792 2107,155 Deferroa availability items l,78l+,734 139,011 359,1+33 102,61+9 168,178 150,528 127,720 254,567 87,362 38,792 89,654 78,235 188,607 Other liabilities including • . accrued dividends 12,915 7I+8 .3,650 794 1,247 61+9 575 2 ,066 ' I+65 595 _602 50I+ 1j±^_ TOTAL LIABILITIES 1+2,879,957 2569,995 11,526,11+5 257l+,01I 51,60,1+56 2556,059 2309,900 7020,056 1768,592 1005,117 1760,158 Lh~51,082 5280,650 coital paid in 181,936- 10,809 64,338 15,1+89 18,257 7*601 6,785 21,574 5,809 5,955' 5,97l+ 6,589 16,758 : Surplus (secxion 7) 553,555 22,1+59 ll6,36o 28,9l4-6 33,745 15,593 ll+,450 53,029 12,939 8,869 . 11,891 10,670 23,921+ .surplus (Section 13b) 27,1+23 3,012 7,205 1+,501. 1,007 3,326 762 1,429 52? 1,073 1,137 1,307 2,ll+2 Other capital accounts • 59,110 L+,275 10,727 4,505 5,554 4,296 5,731+ 7 4 96 5 ,2?2 2,580 5,536 5,193 6,21+2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+5,506,786 21+10,528 11,525,275 2625,1+52 5518,819 2506,855 2555,679 710.3,561+ 1790,959 1019,591+ 1732,546 1472,041 5534,696 Commitments to make industrial loans 5,1+11 .— — 837 521 265 — —- 5,605 —- 170 15 F. R. notes outstanding 2l+,629,806 ll+80,935 5,509,677 1655,255 2034,967 1707,719 1464,451*4456,355 1077,1+12 561,539 907,663 613,777 3110,263 Collateral for F. H. notes '• ' ' . , ' " ' *' held by F. R. Agents: • • Gold certificates 11,1+44,000 1+10,000 5,1+1+5,000 500,000 655,000 570,000 61+0,000 2575,000 500,000 170,000 230,000 169,000 1750,000 Eligible paper 61+,235' . 1+,318 20,351 3,764 ' — 19,000 —- 12,1+00 700 2,250 — 1,000 u. §. Govt, securities 15,977,731+1100,000 2,100,000 1200,000 1550,000 1175,000 850,000 1900,000 902,781+ 1+00,000 700,000 500,000 1600,000 MATURITY DI5TRIBUTI0?; OF LOAN'S AMD S-iCURITIRS . : Within • • 16 to 51 to 6l to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days . 50 'lays 60 days 9 > days 6 months to 1 year years years 5 y°ars Discounts and advances 163*082 61,815 8,1+94 14,863 77,910 Industrial loans L,354 1,136 7 8 9 56 73 19- 1+6 Acceptances purchased 13,745 5,522 3,67!+ 4,139 1+10 — * • e. S. Govt, securities . 22,61*2,525 3,595,931 2,30l+>605 5,456,31+1+ 4,903,751 2,71+0,050 -2,564,206 21,1+00 1+60,500 590,190 1// After deducting $l(.l6,ll+9,000 participations of other Federal Reserve .ba'OKE Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis