H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OP' THE FEDERAL RESERVE .SYSTEM (Released for Publication Saturday morning, November JOj; not earlier) E.h.l November 29, 19)46 CONDITION OF THE ^FEDERAL RESERVE BANKS During the-week eroded November 2f] member-bank reserve balances increased $33*000,000, Additions to member bank reserves arose from increases of $102,000,000 in Reserve Bank credit and 88,000,000 in gold stock, and decreases of $ll|,000,000 in treasury cash, and $6?,000,:000 in nonmember deposits and other Federal Reserve accounts, offset in'part by Increases^ of $126,000,000 in money in circulation and •^32,000,600 in treasury deposits with Federal Reserve Banks, Excess reserves of jnember banks on November 27 were estimated to be approximately $710,000,000* Holdings'of loans, discounts and advances decreased $1^7,000,000 while holdings of United States Government securities increased $160,000,000« The in crease in holdings-of-United ^>tat;esk Government securities reflects increases of $92,000,000'in bill3 and $68,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended ^November 27, I9I4.6, wore as 'fellows: increase or decrease s i no o Nov, 27, Hov, 20, Nov, 28, I9/46 I9I+6 * lyl3 (In millions 'of dollars) U S, Governm.ent securities 23, 682 160 + 36 # Loans,- discounts and advances- 28u 1,7 - 510 4/ Other Reserve Bank credit ' • ll50 11 <¥ Total Reserve Bank credit 2U,Ul6 102 3US mm G^ld sitock C-'U9 U69 6 + U3Q T r e:.... s • .i ry ' c u r r e nc y 5U8 ~ + 251 Member bank reserve balances 1166, ,113311 ++ 3333 * 130 iconey in circulation 2288, ,881155 ++ 112266 + 646' Treasury.cash . , . 2,2 ,22717 1 - - .11.1ll.j - + 2 Treasury' deposits with F. R. Banks 666655 ; ++ 3*>2 2 + 108 Nonmember deposits and other 1F.R*accounts 1*551 666777 - ^85 "* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.1(a) ^4 STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since •November 27, November 20,. November 28* AS S E TS Gold certificates 17,529,178 + lit, 751 + Ui0,613 Redemption fund for F. R. notes 730,00 44-- 33,,009977 ++ 19., 717 Total gold certificate reserves 18,309,620 44-- ..1177,,880033 ++ 038,330 Other cash 272,192 - 7,532 + 3 7,-3a 6 Discounts and advances 262,720 - U6.1U2. - 508,683 Inda s t ri a1 Ioans 1,061 - 51 - 1,360 U. S Govt, securities* # bills 11-, 762,292 4- 9^»;>5o +i; ,793,977 Certificates 7,331,012 4- 67,500 - 327,9u9 835,100 — -1. ,2o6,.U50 Bonds 753,390 — 22i|,002 Total U. 3. QOYQ rnment securities 25,651,79^ 4- 159,856 ++ 35,576 Total loans and securities 4- 113,063 - u70u72 Due from foreign banks 102 .... - 8 F.E. notes of other banks .129,156 - 9,926 + 000 Uncollected items 9 7J.T T-l. - 516,34 5* + 450,974 ^jyu1) 4t~4 .oanx premise3 - 5u - 1,110 Other assets 44-- 11,,667777 13,930 TOTAL ASSETS --220011,,22iitt99** ,, ++ hh1,557 L 1 A. 3*1 L I T I & S Federal Reserve notes 2a, ,779, 754 4- 10U, 21x5 + U59. 15U Deposits* Member bank - reserve account 16, .131, OO? 4- 33, 168 ~ 129, ,918 U,S,Treasurer - general account 660 626 4* 31, 11 c;2 + 107, O90 Foreign 64O, 730 4- 0 66* - 23ii, ,625 <~rA, Other" .312, 098 - 112, • 193 - 163 $0 23 Total deposits 17, 009. ,005 - 3,. 207* - ' U20, ,661 Deferred ---vailability items 1:O 90 - 50J4,0 0t + 320 ,562 Other liabilities including accrued dividends lit, ,c02 44-- 887755 44-- 22,, ,674 iioooo To?,,L LIABILITIES hh 0 , 31;, • 971 883333** 44-- 334455,, O09 a ^ P IT A L A C C O U N TS Capital paid in 185, 0ul 57 4- 10 ,578 ( Surplus (section 7) 358,555 — — + 130, 202 Sur p lus ( Se cti on l;5b) 27, , 4^-0 _. — + 263 ether capital accounts , 0--'-+ + 1, 8527 - 46, 095 TOTAL LIABILITIES AND CAPITAL, ACCOUNTS U5,10U,379 - 201 2L>9* + UU1,557 5 Ratio of '-'old certificate reserves to deposit and F. R, note liabilities'combined h3»\% — H$> Contingent liability on bills, purchased for foreign corresp:ondents ,.6*3 lU - 10 •*• 6,$lU Comirdtments, to moke industrial loans 0,623 + 65 + 5*371 •November 20 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

rU^Kh) SIAIEOiENT OF CQLTDITI01J OF THE FEDERAL R23E17E BANKS OM NOVEMBER 27, I9I46 (In thousands of dollars) Total. Boston lew York Phila, Oleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San.Fran« S S E T S Gold certificates 17,529,178 753,766 5,200,2^6 833J 35 1110,522 1068,oi.1 966,946 3235,30Q 5A5,8^ 7,U, ,Q),p ?76,9ii3 li8li,5S3 2311,717 Redemption fund £or p„ ^. x.ou^^ /ou,u4^ „ 2b,22^ IcO, :>ob ou,oo, /D,d-vjl ?b,di;o 40,606 1^/,3OO ?1 Mi* 31;, 167 25,133 106,793 Total ^old certificate reserves 13,309,620 809,71U 5,^0,83u 899,103 1136,7^3 1126,337 1015,632 3^12,63: 632,2c£ 36o,29l xLl,li0 509,716 21.18,510 Other cash 272,192 22,3219, A '"'• • 20,72'3 31,66f; 17,cl6 5,966 17,391 10,671 28,622 Discounts "and advances 202,728 12,0/7 ?-o, OJ.O n.j, J.J.-> ;;9 ,172 19,736 19,351 13,133 5,220 10,323 11,089 17,173 Industrial loans l,06l ' 00 U S Govt*, securities: # # B i l ls lii,762,292 886,14a 3,'*M:-,7::o ;•':;. '^*- i:-l7,H7 ^5,6)5 722,518 2326,080 :1P: A^.P 676,233 1,32,132 1732,05U1 Certificates 7,331,012 1375,638 1, ^ 1 ,: -6 ' - \ 3 I3 iO/A.-OO '6-4,221 398,577 929,353 hxi,eoi 367,860 550,14664 702,3u5 ^°tes 835,100 '5u,131 oo;\3L-- '5,59; 71,22} 5A, - 3 M- '• 26,91^ 39,923 80,007 i5onds 753,3y0" i;8,880 ' 10 " " / v 0 404 13- 0 /, OJ-2 i+2,32 6 57,r0a 36,017 72,178 U. S Government # s-euntie! '23,681,792 1264,823 3,357,215 1632,903 2150,1.62 l2o6,17i 1199,755 3l;82,027 1110,0?! 679,386 1123,801 908,536 2636,58^ Total loans and icuri" L 23,965,583-iu77/895 5,925,83a 1672,024 2215,6141 1225,927 1219,106 3511,930 1125,21!; 686,606 1134,02I4 919,625 2653,757 Due from foreign banks 102 5 l/ 1*6 7 8 4 3 11 3 > 2 3 3 7 F.R. notes of other banks 129,156 5,092 17,256 4,913 5,812 27,623 13, 00 Hi,257 9,^9 U,lir3 6,263 4,615 .16,271 u Jncollected items 2,3] 4 l,12i, 176,ii30 u7U,207 134,093 223,155 209,7u!i 131,826 I;06,30l 119,798 56,u2l 113,-993 -90,359 202, IVQ Q Bank promises 32,573, 1,301 8,496 3,182 3,886 2,.693 1,529 3,071 2,oi!i 1,275 2,532 eoo 1,79k Other assets 511,029: 3,503 12,906 3,156 5,012 3,300 2,965 6,923 3,952 1,571 2,573 2,i;85 5,383 U5,loa379 2ii98,266 11,813,383 2736,031: 3660,5^3 2819,863 2i{05,269 7386,797 1910,083 1120,275 1867,839 1538,27a 5327,li+3 1 v j.nL> -CXK>0iiD l/ After deducting $56,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+..l(c) £>TATEMMT^ OF CONDITIO! OF THE FEDERAL RESERVE BAI'.KS OF'NOVEMBER 27, 1946 (In thousands of dollars) L I A B I L I T I ES Total :Bostem New;York Phila. Gleve. Rich. Atlanta ehjeago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 2l+,779,751+ 114-83^006 5,61+2,619 1681,276 2108,531 1793,672 ll+l+l+,699 1+51+8,033 llOlj.,636 586,756 912,li+3 607,395 2867,183 Deposits: ...ember bank-reserve acct. 16,151,01+7 721,193 1+,998*953 786,678 1178,207 736,957 7^2,l6l 2.283,921+ 608,295 1+17,911 792,532 776,852 2082,379 U.S.Treasurer-general acct. 661+,62o l+2,937> li+6,055 1+5,1+7U 7U,1+51 5^,522 1+0,269 78,560 1+3,272 33,573 31 ,1+75 27,207 l;-6,835 Foreign 61+0,7514 1+0,181+ 1/2 2l: ,1+55 51,766 58,00^ 29,515 23,700 83,571+ 21,205 15,592 20,582 19,953 52,1+01+ other 512,598 5,259 235,1435 2,81+7 5,6l/+ 2,071 5,227 5,279 7,362 2,193 1,465 892 1+2,951 Total deposits 17,71+9,005 307,574 5,60l+,396 386,765 1316,275 822,863 309,357~2l+5^337 -630,131, 1.169,2.71;, 8^052" 32l„909 2221+,569 Deferred availability items 1*391,250' 165,81+5 552,91+7 U2,1A?3 172,599 l69,l60_ 122,1+20 239,907 100,275 1+5,761+ 10l+,7l+8 32,o66 175^21+1 Othir liabilities including * , accrued dividends lit,962 762 .. L.,li+8 876 1,1+37 657 65I+ 2,1+2+7 5ll+ 9±1 582 573 1,1+10 TOLA LIABILITIES' 1+1+,1+5!+,9 7JL .21+55,187 n,J60i+,6l0 2681,595 ~3593jJ\2 2786,352 2377,110 7777729 1335,559 1102,7050867725 15l!+,9l+8 5263,i+09 Capital ;.id in 135,01+1 10,901+ * 6i+,728 13,936 18,235 7,805 7,01+5 22,293 6,031+ l;-,007,. 6,133 6,736 17,085 P Surplus (Section 7) '358,355 22,1+39 116,860 28,91L6 33.71+5 1.5,595 lit,1+50 53,029 12,939 3,369 11,891 10,670 23,921+ Surplus (Section 13b) 27,1+23 3,012 7,205 1(1,501 1,007 3,526 7-2 1,1+2? 07 1,073 1,137 1,307 2,U2 ( Other capital accounts • 98,531; 6,721+ 20,1+30 7,506 9,061,. 6,792 5,90 2 15,517 5,029 3,o21 5,205 1;,565 10,535 TOT.J, LIABILITIES OJD CAPITAL ..CCOUNTS i+5,10l+,579 21+93,266 11,315,885 2756,031+ 5660,51+5 2319,363 21+05,269 7536,797 1910,038 1120,275 13?-7,3'39 153-3,271+ 5327,ll+3 Contingent liability on bills purchased for foreign correspondents 6,3ll+ 1+0,'+ 2/2,103 52l+ 537 297' 2'1;0 31+6 215 158 203 202 530 Commitments to make industrial loans ' 3,623 — 1,621+ l,7l.'6 59 332 li.OLO 1+50 155 192 F. R. notes outstanuing 25,3b3,0l6 1509,216 5,757,203 1723,632 215l+,125 1830,261+ il+3o,i7l+ 11620,598 111,5,973 597,515 955,907 656,027 2933,772 Collateral for F. R. notes •"•• held by F. R. agents: ^ Gold certificates 11,Oil;,000 1+50,0.00 5,1+70,000 520 ;,000 655,000 700,000 595,000 2ll;0,000 5'00,000 l'75',0O0 230,000 "169,000 lo00,000 Eligible paper ' 36,970 is,370 56,223 T .927 —- 15720" —- 10,550 1,350 5,775 — 5,650 U. S. Govt, securities ll+,97l+,050 1100,000 2,1+00,000 1200/003 1550,000 1150,000 900,000 250C./GOO 91+9,050 2^5,000. 700,000 500,000 lo00',000 MATURITY DISTRIBUTION1 OF IAOFS AND SECURITIES Within 16 to 51 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts, and advances 232,723 156,250 21,133 3,225 17,0*35 100,000 Industrial loans •• 1,061 ' . 9.1+7 56 2 .,. U 7 h 7 5k --v U. s. Govt, securities 25,631,791+ 5,38!+,225 2,331,259 1+,913,999 6,511+,759 1,1+11,756 3,772,006 320,1+00 11+3,350 580,ol+0 r l/ After deducting 01+15,999 ,°00.participations of other Federal Reserve Banks. 2/ .After deducting SU,211,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis