H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FSDBRAL RESERVE SYSTEM (Released for Publication Friday morning, February 28? not earlier) %k.l February 27, I9U7 CONDITION OF THB FEDERAL RSSBRVB BANKS During the week ended February 26, member bank reserve balances increased $11,000,000 Additions to member bank reserves arose from decreases t of $9^3*000,000 in Treasury cash and $1^,000,000 in money in circulation and an increase of $87#000,000 in keservo Bank credit, offset in part by increases of $570,000,000 in nonmember deposits and other Federal Reserve accounts and $11;, 000,000 in Treasury deposits with Federal Reserve Banks and a decrease of 0l|ij3,000,G00 in gold stock* Excess reserves of member banks on February 26 were estimated to be approximately $690,000,000* Holdings of loans, discounts and advances increased $50,000,000 and of United States Government securities $126,000,000 The increase in holdings # of United states Government securities reflects increases of 05^000,000 in bills, $38,000,000 in notes and $3^,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended February 26, 19-U7# were as follows j Increase or decrease since Feb, 26, F^b„ 19, Feb, 27, 1917 19^7 19^6 (In millions of dollars) U, S. Government securities 2i ,0Ul + 126 +1,072 4 Loans, discounts and advances 393 + 50 + 11 Oth,;r Reserve Bank credit 3:; 5 - 88 + 2 Total Reserve Bank credit 214,761 + 87 + 1,031; Gold stock 20,322 - hks + 89 Treasury currency 14/356 ...» + 109 L-ember bank reserve balances 15,781 + 11 + 226 .-.oney in circulation 28, cityi - il + 32i| treasury cash 1,581 - 9u3 - 936 Treasury deposits with i[' R, Banks + ik +l/3ii6 # honmember deposits and other F R,accounts 1,5)42 + 570 + 122 f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(a) STATEMENT OF CONDITION OF- THE TWELVE FEDERAL RESERVE *BANKS COMBINED (In thousands of dollars) Increase or decrease since February 26, February I9, February 27, 19U7 I9I7 : 19^6 A S S E TS Gold certificates 18,290,13.0 + !i87,ooo +1,023,615 Redemption fund for F. R, notes 79^377 + . 1,361 + 12>51Q Total gold certificate reserves 19,085,057 + 1 op PCI +1,036,125 Other cash 337,710 _ do - 15,805 Discounts and advances 592,2lp * hdMk + 12, nh Industrial loans pp'p + 555 595 U. S. Govt, securities} Bills 15,67b,115 + '53,895 +2,568,883 Certificates 7,135,78k + 3);, 000 - 560,1+27 Motes 2129,300 + 38,000 - 9C3,Uoo Bonds 753,390 _., ~ 195,502 Total IT. S Government # securities P. ,oh3,589 + 125PP5 +1,071,55U Total loans and securities + 175,71k +1. ,085,155 Due from foreign banks 102 ~- - 8 F. R. notes of other banks i2l,2lS ~ 2,5U7 - 25,781 Uncollected items 2,500,6711 - 200,1+60 •+ Zi07,U66 Bank premises 5c,^-.o9 - hi - 988 Other assets 1*9,010 + 2,0lp - 16,685 TOTAL ASSETS 1+6,562,902 + a 65,21,0 +2. ,ii67,U57 L I A B I L I T I ES Federal Reserve notes 4,310,008 185,701+ -, v-',J 7 Deposits j Member bank - reserve account 15,781,157 + 11,501 ++ 225,&96 U.S.Treasurer - general account 2,57P785 + 13,Ii.2jL| ++ 11,, , 5U5, 628 Foreign 283,257 + 71,021 295,595 Othe r 752,983 + 198,079 ++ 510,925 Total deposits TQ -7] ]RP + 59a,025 2736,856 Deferred availability items ? !7A r>hl • 111,667 + 1;05,892 Other liabilities including accrued dividends •12,382 + > 1,262> ++ 1,688 TOTAL LIABILITIES >P, 862, R13 + 1+61,611 ++ 22;; P80,lli0 C A P I T AL A C C Q.U N T 3 Capital paid in 190,708 180 + 10,260 Surplus (Section 7) + '81,1*68 '•-> J / > --'c- J Surplus (Section ljb) 27,14 55 + 27 Other capital accounts 35C-05 + 1,14+9 Wi58 TOTAL LIABILITIES AND CAPITAL ACCOUNTS IP,362,902 + U63,21|0 + 2; ,14.67,1+57 Ratio of gold certificate reserves to deposit and' F R note # # liabilities combined ) v r-jcr; M m(S/o Contingent liability on bills purchased for foreign correspondents S,8Ul + 2914 8,81+1 Commitments to make industrial loans 8,189 + 122 6, 8I42 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.14.1(b) STATEMENT OF CONDITION OF THE FEDERAL "RESERVE BANKS- ON"-FEBRUARY 2<$, I9U7 (In thousands of dollars) s s a T. s Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans'.Cy. * Dallas SanFran. Gold certificates l8,2go,l80 '763,136 5,973,520 862,515 I3l0,u67 967,B07 9U3,3U5 313U,U07 600,216 3U4,632 612,630 u56,833 2390,592 Redemption fund for E. R... notes 79^,877 ' 5A,822 120,935 59,770 76,670 6o,Iic6 i;5,Au7 1A5,U28 A6,163 21,235 33,773 2l,767 105,383 f i-!-;-" 1 ,,.-, Id certificate reserves ' 19,085,057 817,958 5,999,^55 922,285 1587,157 IO48,293 995,792 5279,855 605,379 565,865 646,463 u8l,6oo 21+95,975 othir each 557,710 29,102 6o,khk 21,1+1+0 29,659 22,606 30,060. 1+6,1+32 17,139 8,761+ 12,555 13,834 U5,6U5 Discounts and' advances 392,21|9 26,525 136,836 19,521 21,572 25,1+73 6,601; 1+4,810 27,998 31,795 7,515 10,37U 52,c Industrial loans 99!+ 21 — 973 U. S„ Govt, securities* Bills . 15,.67^,115 926,102 3,726,311 Hll4,l35 1569O19 911,600 755,490 2.895,507 670,696 1+05,HO 631,165 519,565 1699,686 Certificates 7085,734 484,998 1,338,1+6U 550. 1+81 658,865 143,257 372,513 921,133 355,12u 209,304 3U2,866 321,046 697,555 Notes U29,500 28,Q75 109,836 31,693 38,167 26,U81 22,255 53,03.1 23,003 12,517 20,1+814 19,130 ' 141,675 B°nds 755,590 50,8lt9 192,755 55,618 66,981 1*6,1+73 39,056 96,576 Uo, 373 21,966 35,9U8 55,660 75,152 1 ot.al U. 3. Government securities 24,045,589 i490,924 5,867,86u 1751,925 2113,430 1427,811 1189,51I1 5963,21+7 1119,206 649,150 1080,465 393,249 2512,026 Total loans and securities 24,456,832 1517,470 6,004,750 1752,1*19 2135,002 11+55,284 1196,118 4013,057 Hu7,204 680,925 1087,976 903,623 251+5,001+ Due from foreign banks 1 2 6 l/ 33 8 9 5 4 Hj. 4 3 h 5 9 0 F.R.notes of other banks 121,21+8 2,875 15,866 1+,1+1+3 6,650 28,785 111,909 10,985 7,756 14,823 5,896 4,59© 15,638 Uncollected items 2,5oo,674 171,599 u75,005 144,586 244,646 214,391 I72,2'9u lt35,69i 117,674. 65,245 134,785 110,199 220,559 Bank premises 52,269 1,287 8,1+1+1 3,H|6. 5,840 2,672 1,519 3,0>+3' 2,003 1,235 2,515 792 1,776 other assets 1+9,010 , 3,311+ il,8i6 3,043 1+,7H 2,927^ 2,746 6,552 3^065 1,578 2^278 _J £78 ^,_399 1 TOTAL ASSETS 46,562,902 251+3,609 12,571,310 2851,375 38il,67u 2772,961 21+11,1+1+2 7795,609 19^1,252 1126,233 1892,452 1516,925 5,329,555 l/ After deducting- $69,000 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 THE FEDERAL RESERVE'BANKS ON FEBRUARY 26, I9I+7 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Ifcserve notes 2l+,310,008 li+i+9,853 5,5l+5,ll+8 l662,l+5l+ 2082,53^ 1716,590 ll+01,9l+5 1+507,181 1091,1+1+5 587,930 910,11+2 582,227 2772,559 Deposits: Member bank-reserve acct. 15,781,157 703,006 l+,92l+,566 78!+,525 li6i,570 712,ii+3 730,1+1+3 2309,91+0 621,057 1+03,837 757,61+6 725,006 19l+7,Ul8 U.S.Treasurer-general acct.2,371,785 153,685 693,71+6 181,718 236,ll+9 98,69!+ 62,1+82 1+39,617 69,801 50,978 60,693 66,051+ 258,168 Foreign 1+85,257 30,630 1/162,321 38,1+25 1+1+iHS 23..2L+5 19,1+50 61+,5l6 16,603 11,860 16,603 15,655 1+1,831 Other 732,983 1,960 61+9,768 2,214+ 7 609 1,933 1*35? 6,153 6,55!+. 2,61+1 632 956 51,176 Total deposits 19,371,182 889,281 6,1+30,1+01 1006,-912 ild^M^ 836,015 813,732 2820.226 7ilj.,ci5 1+69,316 835,571+ 807,671 2298,593 Deferred availability items 2,176,21+1 159,292 376,895 125,089 2ll+,6l5 185,020 166,015 370,219 109,716 50,391+ 120,872 102,26-7 195,81+7 Other liabilities including accrued dividends 12,382 709 . 3,21+9 7cO 1,176 591 5l+l 2,527 1+90 366 1+62 501 1,010 TOTAL LIABILITIES 1+5,869,813 21+99,135 12,355,693 2795,215 371+7,771 2738,216 2382,233 7700,153 1915,666 1108,006 1867,050 11+92,666 5268,009 Capital paid in 190,708 11,162 67,218 ll+,151 15,620 8,032 7*252 22,738 6,276 1+,179" 6,299 7,029 17,752 Surplus (Section 7) 1+39,823 27,557 136,51+9 3^,720 1+1,391+ 20,676 18,663 65.078 16,577 10,997 15.729 13,777 38,106 Surplus (section 13b) 2|,l+55 3,012 7,253 k,k£>9 1,007 3.325 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other capital accounts 35,103 2,71+3 5,097 2,800 2,882 2,712 2,532 1+,211 2,212 1,983 2,237 2,ll+6 3,5l+8 TOTAL LIABILITIES ArD CAPITAL ACCOUNTS 1+6,562,902 251+5,609 12,57.1,810 2851,375 3811,671+ 2772,961 21+11,1+1^2 7793,609 191+1,252 1126,238 1892,1+52 1516,925 5329,555 Contingent liability on bills purchased , • for foreign correspondents 8,81+1 566 '2/2,829 716 822 1+33 362 1,202 310 221 310 292 778 Commitments to make industrial loans ,8,189 — — 1,238 1,596 73 — 330 l+,225 — 1+50 — 177 F. R. notes outstanding 25,015,31+6 il+88,065 5,709,302 1703,715 2133,571+ 1762,657 ll+LJ+,212 1+595,976 1131,031 602,1+97 931,565 608,331 290l+,l+21 Collateral for F. R. notes held by F. •{. Agents: Gold Certificates 10,653,000 i+55,000 3,1+70,000 525,000 61+5,000 625,000 590,000 1710,000 300,0-00 l3l+,000 280,000 169,000 1700,000 Eligible paper 216,825 13,090 9k,710 8,01+5 —- 19,015 ,, — — 23,385 28,500 2,900 — 21,330 U. S. Govt, securities 15,327,623 1100,000 2,1+00,000 1200,000 1500..0O0 1160,000 900,000 2900,000 91+2,623 1+25,000 700,000 500,000 1600,000 MATURITY PICT 31. BUT ION OF L0..R-S A I'D SECURITIES Within 16 to 31 to 6l to 91 days to 6 months l.to 2 2 to 5 Over Total 15 days 30 days oO days 90 days 6 months to I year years years 5 years Discounts and advances 392,21+9 21+8,870 28,ll+l+ lll+,520 715 Industrial loans 99^ 921 || ^ 5 ' ll+ . • 6 . 8 32 u. S. Govt, securities 2l+,Ol+3,589 k, 162,755 2,1+22,266 5,692,675 A+,838,675 1,550,1+31 l+,327.997 32u,l+00 ll+8,350 530,01+0 1/ After deducting $322,582,000 participations of othor Federal .ieservo Banks. 2/ After deducting $6,012,000 participations of other Federal deserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis