H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, November 22; not earlier) H.U.I November 21, 19^6 CONDITION OF TIE FEDERAL RSSE-VE BANKS During the week ended November '20 member bank reserve balances decreased $l6l,000,QP0.; Reductions in member bank reserves arose from a decrease of $251,000,000 in. Reserve Bank credit and. an increase of_ $56,000*000 in Treasury deposits with Federal Reserve Banks /offset in part by an increase of $£jl ,000,000 in gold, stock and decreases of $72,000,000 in money in circulation, $9,000,000 in Treasury cash, and $25,000,000 in nonmembor deposits and other Federal Ro^orv-j accounts, 'Excess reserves of member-banks on November 20 were estimated to be approximately $690,000,000. Holdings of Toans, discounts and advances decreased S67,000,000 and of United States Government securities $162,000,000. Ihe decrease in holdings of United States Government securities reflects a decrease of S233,OOOiOOO in bills and increases of $61,000,000 in certificates and $10,000,000 in notes. Changes in member bank reserve balances and related Items -during the w eek and the year ended *Nb-venber .20',' 19k& were as follows* . Increase or decrease since Nov, 13, Nov, 21,, L9ko 1946 L91+5 (In millions of dollars), U. S. -Govt, securities (incl. guar, sec.) 23 ,522 +179 Leans discounts and advances 331 67 -3u2 Other Reserve Bank credit i+61 -105 Total Re s e rye 3cirik c re di t 2h* 3ii+ -251 - 17 Gold stock 20 Mi + kl +1+29' Treasury currency 1, ,5148 +251 Member bank reserve balanced 16 OQP -161 +161 Money in circulation °R '',PO •+1;91 > w -' y Treasury cash 2 ,235 - 9 Treasury deposits with F. &• Banks 033 - c. 6 aenmember deposits and other, F.* R. a c counts 1 ,613 -. 23 •226, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

II.il. 1(a) STATEMENT'OF CONDITION OF THE TWELVE FEDERAL RESERVE-BANKS COMBINED (In thousands' .of dollars) Increase or decrease since November 20, November 13, November 21, I9U6 I9U6 I9li5 A S S S T S Gold certificates 17,514,427 ' + '60',0bl; + 402,367 Redemption fund for F. R, note;s 777,545 - 2,575 + 17,619 Total gold certificate reserves 13,291,772 + 57,623 + 420,436 Other cash 279,724 .+ 12,654. .+ 49,310 Discounts and advances 529,470 - 67,510 - 500,953 Industrial loans 1,112 10 1,432 U. 8,Govt, securities: Bills It,669,936 -232,753 +1,330,223 Certificates 7,265,512 + 61,000 -'. 276',949 Notes .. 335',100- • + 10,000 -1,157,950 - 22i| ,002 Bonds 75.3,,5 90 Total U, S. Government 23,521,933 -161,753 + 179,322 securities Total loans and securities /23,352,52a' -229,273 .- 123,048 Lao from forei'gn banks ; 102 8 F. R. notes of otherbanks 139',032 •+ 24,731+ + 17,717 Uncollected items 2,6.57,137, -152,215 + 610,676 Bank premises 32,607 -11 1,109 Other assets 52,352 + 2,216 12,600 TOTAL ASSETS 1+5,30 5,346 -264,272 + 961,932 L IU II I T I E S Federal Reserve notes 24,675,511 - 26,734 + 312,017 Deposits: Member bank - reserve'acc'ount l6',097' 079 ' -160,634 f '161,09k U.S.Treasurer - general account 633,174 •+ 55,959' 223,29i| Foreign 596,036- - 26,203 ' 306,103 Other - 424,791 + 2,770 • ; 32,533 Total deposits 17,751,930-' -123,103 h5,7hl Deferred availability items 2,195,994 -110,255 + ,505,233 Other liabilities including accrued dividends . l4,Q37 530 ^2,500 ; TOTAL LIABILITIES m:637,522" -265,677 C A P I T AL A C C O U N TS Capital paid in • 134,934 51 ++ 11,573 Surplus (Section 7) 353 ,355 130,202 Surplus (Section 13b) -27,1;23 ++ • r^- /0 3-7 y. che r cani tal a'cccunts' + 1,354 ; i.i.5,603 97,057 TOTAL LIABILITIES AND CAPITHL ACCOUNTS 45,305,5-46- • -264,272- ++ ?6i,932 latitf of gold certificate reserves to deposit and F, R. note liabilities combined 43.1^; + •%' + .0% Contingent liability on bills purchased for foreign correspondents . 6,-324 +. 305""* + • 6,324 Commitments to make industrial loans 3,565 + 7-' + 5,605 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. l+.l(b) 'STATEMENT OF CONDITION OF THE FEDERAL .RESERVE BANKS ON NOVEMBER 20, I9I46 In. thousands of dollars) Total Boston New York , Phila. Cleve. Rich. Atlanta Chicago" St.Louis Minn. Kans.Cy. Dallas SanFran. A S S E TS Gold certificates 17,5li.4,i+27 729,269 5,565,601-858,5511117,2791052,-680 9^14,298 5221,267 565,605 346,381 587,81+1 1462,91142282,965 Redemption fund for ' \ F. R. notes '777,51+5 56,0^3 115,971 60,816 76,357 59,617 1+6,795 127,552. 146,679 21,215 34,200 25,17k 106,9146 Total gold certificate reserves ~ ' 18,291,772 785,512 5,481,572 899.11+7 1195,616 1112,297 991,093 3348,819 612,282 567,596 622,0l4l ,488,088 2589,909 Other cash ' 279,724 22,872 61+,961 19,36l 17,586 22,851 20,271 51,954 16,797 6,121; 16,61+5 9,926 50,076 Discounts and advances 529,1+70 15,927 78,563 25,270 47,201+ 19,306 28,151 147,835 18,553 3,720 16,566 13,589 14,955 Industrial loans 1,112 56 —- 1,056 —- — —- — U. S. Govt, securities: Bills 14,669,956 899,176 5,L.56,150 981,901+ 11+14,260. 866,175 730,134 21+10,177 617,91+3 397,870 565,992 1+75,106 1759,051 Certificates 7,265,512 1+70,950 1,815,226 555,161+ 620,956 1+39,961+ 587,006 941,143 1+08,1+86 218,985 564,564 547,1+94 695,611 Notes 855,100 54,11+4 208,701 65,598 71,590 50,581+ 1+4,1+95 108,205 1+6,9614 25,177.. 41,911+ 59,952 79,976 Bonds 755,590. l+8>84-6 .138,281 57,575 -6Li.,kQ5 45,654 l+0,ll+l 97,618 42,569 -22,71$ 37,814 56,045 72,151 Total U.S.Government securities" 25,521,958 ll+75,096 5,668,558 1656,0!+! 2170,991 11+02,555 1201,776 3557,11+8 1115,762 66k,7k3 1108,234 896,595 2606,789 Total loans and Tecuritie? 23,852,520 1489,079 5,746,726 1682,367 2218,195 11+21,66l 1229,927 5605,051 1134,295 668,465 1124,850 910,184 2621,71+2 Due from foreign banks 102 5 l/ 1+6 7 8 1+ 5 11 5 2'- 5 5 7 F^R.notes of other banks 159,082 4,595 22,997 5,935 6,872 26,594 'l2,ll4 ' 15,729 3,687 4,265 8,061L l+,768 18,414 Uncollected items 2,657,187 209,535 - 551,528 151,1+25 251,922 231,318 162,618 1+06,657 130,178 71,663' 128,594 107,319 254,632 Bank premises 52,607 1,306 8,1+96 3,194 3,895 2,695 1,555 5,064 2,017 1,275 2,532 301 1,301 other assets 52,352 3,557 12,551 5,415 5,157' 5,092 2,909- 6,967 5,400 1,511 2,51+8 2,1+50 5,255 TOTAL ASSETS . 1+5,505,514 2516,061 11,883,1+57 2765,597 3697,051:2820,510 21+20,1+68 7418,252 1907,659 1120,899 1905,277 1525,519 5521,856 !•/After deducting $56,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 20, 1946 (In thousands of dollars) B I L I is Total Boston Nov/ York Fhila. Clove, Rich. Atlanta Chicag oSt .Louis Linn. Kans.Cy. Dallas SanFran. Federal Re ;rve notes 24,675,5111473,157 5,537,755 1664,792 2101,030 1789,015 1^*48,224 4535,605 1101,911 586,301 912,630 607,139 2369,354 Deposits: 2066,508 Member bank-reserve acct. 16,097,879 754,6l6 4,939,535 795,721 1135,050 724,691 730,070 2299,664 605,51+4 4l6,403 799,066 751,011 34,906 U.S.Treasurer-general acct.' 633,174 45,663 127,650 6l,ll+4 76,710 1+0,645 35,731 87,573 37,529 23,649 33^370 23,754- Fo rei gn 596,086 37,111 1/ 212,087 1-7,776 55,552 27,054 21,875 77,155 19,571 14,590 18,715 13,420 43,426 Other 424,791 ,299 350,428 2,136 6,012 2,815 1,284 5,764 7,846 2,070 1,755 586 42,766 2192,606 Total deposits 17,751,950 320,639 5,679,700 906,827 1321,304 795,205 789,008 2468,154 670,290 1+61,512 852,884 795,771 Deferred availability items 2,195,994 178,431; 407,957 1^3,356 211,357 202,284 154,578 324,315 HO,525 55,015 114,908 93,322 199,417 Other liabilities including ^ ^ ^ ^^ ^ ^^ ^ ^ ^ ^ , f 0 c 14,037 710 4,151 344 1,357 612 587 2,363 521 555 523 522 1,559 accruGQ divi dCTids TOTAL LIABILITIES 44,637,522 2473,040 11,679,545 2710,319 5655,078 2787,116 2392,397 7323,/+15 1333,21+5 1103,381 1381,000 1500,254 5263,23<T Capital paid in 134,984 10,903 64,723 13,954 18,234 7,785 7,ol+l 22,278 6,029 ^.007 6,130 6,785 17,035 Surplus (Section 7) 553,355 22,1+39 116,360 23,946 35,745 15,595 14,450 53,029 12,939 8,369 11,391 10,670 23,924 Surplus (Section 13b) 27,423 3,012 7,205 4,501 1,007 5,526 762 1,429 527 1,073 1,137 1,507 2,142 Other capital accounts 97,057 O , uw ( .20,126 7,197 3,917 6,690 5,318 13,033 4,919 3,569 5,H9 4,5r^,r>';3 10,449 TOTAL LL1SILITIES AND CAPITAL ACCOUNTS 45,305,546 2516,061 11,333,457 2765,597 5697,051 2320,510 21+20,466 7413,232 1907,659 1120,399 1905,277 1523,519 5521,336 Contingent liability on bills purchased for foreign correspondents 6,324 404 2/2,117 537 296 240 31+5 214 153 208 20; 530 J<=-J Commitments to make industrial loans 3,565 — — 1,576 1,731 59 — 502 4,04.0 1+50 155 192 F-. R. notes outstanding 25,554,779 1506,050 5,752,962 1703,961 2152,152 1831,066 1434,673 4615,493 114-0,034 599,077 934,054 636,503 2993,694 Collateral for F. R. notes half by F. R. Agents: Gold certificates ll,00l+,000 1+30,000 3,470,000 510,000 635,000 700,000 595,000 2l4o,000 300,000 175,000 280,000 169,000 1600,000 Eligible paper ' 92,330 7,300 27,980 14,082 — 12,970 — — 13,950 350 12,113 3,630 IL, S. Govt, securities 14,979,702 1100,000 2,400,000 1200,000 1550,000 1150,000 900,000 2500,000 954,702 425,000 700,000 500,000 1600,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 30 days 60 days 90, days 6 months to 1 year years years 5 years Discounts and advances- 329,470 272,347 20,090 13,393 17,635 Industrial loans 1,112 996 58 1 4 3 4 7 54 U. S-. Govt, securities 23,521,938 3,234,428 2,782,742 4,866,964 6,386,252 1,409,756 3,?43>oo6 320,400 148,550 530,040 l/ After deducting $383,654,000 participations of other Federal Reserve Banks. Digitized for FRASER "2/ After deducting $4,207,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis