H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD 0-1. GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, December 27; not e*rller); H.U.I pecenibef 26 I9U6 f CORSITION OF-THE FEDERAL RESERVE BANKS During the week ended; December 2fy member bank reserve balances Increased $13>000,010, Additions to member'bank reserves arose from increases of $5^9,000,000 in Reserve Bank credit-and.$50,000,000 in sold stock, offset In part by increases of :$310,000,000 in Treasury deposits with Federal R^erve Banks # $114;,000,000 in money in circulation, §3,1,000,000 in nonmember deposits and other Federal Fie serve accounts, and $50,000,000 lh reusury cash. Excess reserves of member banks on December 2l\. were estimated. !bo be approximately $970,000,000* Holdings o;f -loans, discounts and advances increased .$37>..000,000 ^nd of United States Government securities $511,000,0.00• ?he increase in holdings of Uni/tod J3tates. Government securities reflects increases of $190,000,000 in bills* andi$21,.000,000 .inM^rtific^tls,- '; " ": Changes in member bank reserve balances and related items during the week .and the year ended, December; 2I4, I9I4.6, were as fellows? Increase or decreasesince Dec. 2i|, Dec. 18, Dec. 26, I9a5 19I46 I9ii5 (In Ml lions of dollars) U. S. Government securities 23,722 511 •• 315 + •• Loans, discounts and advances 5a 1 + 37 - 133 Other Reserve Bank credit Bill ——» 4- 173 Total Reserve Bank credit 2U,877 + 5ii9 m 295 Gold.stock. pn epe -f 50 + h& T r e a s ur y cu r re no y h,y% --- + 220 Member bank reserve balances 16,530 + • 13 + 872 iloney in circulation 29,163 + ihh + 511l .Treasury cash 2,258 + 50 •» 25 Treasury deposits With F f R, Eahks 5U7 + 310 - 652 Nonmom.be r deposits and other F. R. accounts 11,,1 4i.j6 600 + . 31 - 322 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

rUU.l(a) SToTBAEOT OF^CoFDITlOc OF TiIE TWELVE FooBRAL RESERVE-' iSAeKS COMBINED (In thousands -of dollars) ( Increase or deorou.se since December 2l\. December 18, December 26, s 19)46 - V)h6 19U5 A SS Gold certificates 17,587,175 - .2,003 + 521;,610 Redemption fund for F, R. not>s ; 79U# 1?0 + 59li - 6,2)41 Total gold certificate roseroes 10,581,305 - 1,609 + 518 369 Other cash 236,635 - ll|.,oll| + -29,861 Die counts and advances 5nO,5ao + 37., ;;c00 - 15lJl.8A Industrial loans p[,i • op « 1,1;97 U. S Govt,, securities: t ^-lls "' ' 15,llo3,le6 +089,889 +2,3^,597 Certificates 7,268,012 + 21,000 - 699,/il;9 ^otes •• 355,300 — -1,7^,350 Bonds , _ 1 ^ 2 ol _ 2T - 195,502 Total U. S. Government ! sTolIHTies '23/721,808 +910,889 - 31o/70l| Total loans and securities 2^,0.62,?52 *%*>Uhl •- q.67,685 $ Due from .foreign banks 102 - 8 : b\ R notes of other banks 153,.881; + 283 * 28g f .Uncollected items; _ • 2,75] ]o6l -531,313 > 73U* 535 4 Bank premises : 32,519 ' - ' 19 - 1,096 Other assets _ , fh?,7U -p f-6l - 15,707 TOTAL ASSETS i , ,^9,199 + 1,508 + 798,5hd i5 •L1 A B I L IT I ES Federal Reserve notes 25,091,572 +128,391 + 355,181 Deposits: member bank - reserve account 16,529,795 .+,12,919. + 872,027 U. S 0 Tre usurer- gene ra 1 a,cc ount 5a7,0O 010,255 651,648 Foreign 5OO05 - 6,20 3430/31 Other' -7 O 0 r\ ! / IA0O.Z2 90,834 X«,CC6 Total deposits IO92O 518 O-OOO - £1^,186 Deferred availability items i/Oo,r;8 0300)6 + 561,625 other liabilities, including accrued dividends n , ' - • 17,018 + 2,219 + •0237 TOTAL LIABILITIES * ' ' < ' ' * 04,973,28 6 • + .. 103. + 706,857 CAP I_ T AL . A O C OU IT T £ Capital paid in•; 185,921 + 278 + 10,085 Surplus (Section 7) • 358,398 + 130,202 Surplus- (Section 13b) 27,108 + 263 Other capital accounts IOO2-9 .OJ.027 08,859 TOTAL LIABILITIES AND CAPITAL ACCOUNTS.1 k^4$7^99 + l"7B~ * + 798,5^8 Ratio of gold cortificate reserves to deposit and F.R.note liabilities combined 1*2.7$ 6pb + l.Cfto # Contingent liability on. bills purchased for foreign correspondents 6,511 + 68 + 6,511 Coirunitmonts to make industrial loans 8, 5Lo3 + 15 + 5,Ii96 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.li.l(l))' STATEMENT OF CONDITION CF' THE FEDERA.L RESERVE BAMS ON DECEMBER 2k, I946 (•In thousands of dollars) A S S E TS Total Boston Few York Phi la. Cleve.. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 17,587,175 761,940 5,126,110 854,006 1125,671 1119,863 1036,207 3275,035 575,159 360,809 597,888 ,u72,l7l 2284,038 Redemption fund for *"• R- no-6s 794,150 55,555 I2li,i;08 61,009 77,620 59,9lh I16/254 136,658 46,456 21,560 54,017 , 25,003 106,276 Total fcold certificate reserves 13,381,305 817,495 5,250,118 915,015 1201,291 1179,777 l082,i|6l 5411,691 621,595 332,169 631,905 u97,U7u 2390,51a ether cash 256,655 19,777 44,617 17,615 20,966 20,759 17,218 26,562 13,056 u,596 15,826 10,565 25,078 discounts and advances zK 5L3 27,985 85,509 25,211 56,1;99 16,156 11,171 29,895 35,275 53,530 13,978 7,561; 19,713 0} Industrial loans P4 i P7 c-ii, ___ U. 8. Govt, securities: B ms 15,H;5,l66 83U,517 5,368,578 loli4,812 11*29,735 801,459 695,651 2U6i|,151 656,595 369,494 663,572 482,6u7 1851,505 Certificates 7,463,012 552,685 1,635,252 556,353 629,575 446,514 579,878 948,178 4ll,44l 227,51,5 571,035 573,611; 707,661 ^otes 555,500 26,295 89,598 25,5m 29,955 21,21,5 18,075 45,111 19,575 10,816 17,652 17,775 33,668 Bcnc!s 753,590- 55,756 189,937 54,157 65,515 45,0n5 38,325 95,654 la, 507 22,955 57,431 37,691 71,391 1 oto.1 U. S. Gpvernnen-= 4securities 25,721,368 H+.69,051 6,051,215 1661,543 2152,826 1314,261 1129,925 5555,094 1108,913 650,590 1094,488 9H,927 2664,225 Total loans and securities 24,062,952 .12*97,061 6,116,724 1685,075 2139,525 1550,1;17 1141,096 5552,937 1144,191 664,178 1108,466 919,491 2685,945 Due from foreign banks 102 5 1/1=6 J 8 4 5 11 5 2 5 5 J F.R.notes of other banks 155,3.3^ 1^,672 17/315 4,610 10,581 52,029 9,008 16,216 3,111; 4,056 6,823 1;,158 15,899 Uncollected items '2,75U,06l 177,729 552,153 195,790 264,512 22*2*, U3 189,098.453,069 121;,975 73,320 135,231; 112,247 235,969 oank premises 52,519 1,301 8,477 3,170 3,886 2,6=93 1,526 5,062* 2/013 1,270 2,527 . 798 1,794 ucher assets 47,741 5,202 11,2*27 5,627 4,256 2,359 2,529 6,551 5,000 1,322 2,11,8 2,2j;6 4,634 IOTAL ASSETS 45,649,199 2521,21*2 12,001,2*77 2822,907 3694,405 2812,631 2442,939 7500,131 1916,947 1130,915 1902,937 1546,982 5355,638 l/ After' deducting $56,000 participations of other Federal Reserve Banks', Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS' ON DECEMBE R24, 1946 (In thousands of dollars) I A B I \, I T I E S - Total Boston New York Phila. Cle\re. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. oderal Reserve notes 25,091,572 1505,429 5,729,360 1711,860 2144,519 1791,906 1461,548 4602,370 1127,666 594,795 922,676 610,1)70 2839,173 -eposits : • ft:«mb.-r bar.k-reserve acct. 16,529,7^5 749,525 5,188,017 842,755 1203,557 739,570 742,616 2359,487 616,223 418,285 805,045 769,292 2095,553 U.8.Treasurer-general acct.. 547,062 43,886 122,680 30,694 27,914 42,378 35,106 78,484 26,980 31,356 31,839 27,363 50,297 Foreign 519,705 51,697 1/191,325 40,759 45,670 23,081 13,661 65,804 16,697 12,277 16,205 15,714 41,317 Other 528,046 5,189- 241,208 3,404 10,841 4,615 1,988 2,716 7,552 1,974 170 578 47,731 otal deposits 17,924,518 830,097 5,743,728 917,592 1283,012 809,644 796,371 2506,491 667,482 465,892 855,309 812,952 2234,948 eferred availability items 1,940,178 l4l,29o 511,600 157,454 197,754 176,595 156,166 297,689 96,419 55,617 101,788 99,351 170,491 ther liabilities including accruea aivicenas. 17,018 826 5,853 953 1,433 fc.51 636 :,6?6 537 871 513 567 1,467 OI'AL LIABILITIES 4^,973,286 2477,648'11,790,541 2767,839 5631,755 2778,794 2414,521 7409,206 1892,104 1115,175 1878,286 1525,540 5296,079 :pi tal paid in 135,921 11,094 £k,9?h 15,926 18,304 7,827 7,074 22,555 6,104 4,.031 6,159 /- O,- 0 17,203 urplus (Section 7) 358,355 22,439 116,860 28,946 33,745 15,593 14,450 53,029 12,959 8,809 11,891 10,670 23,924 urplus (Section 13b) 27,428 3,012 7,205 4,501 1,007 3,326 762 1,429 527 1,073 1,137 :\, 507 2,142 Lhe-r capital accounts 104,209 7,049 21,877 7,695 9,59o 7,'091 6,152 14,ill 5,273 :,765 .,514 4,81 11,290 '/•Id, LIABILITIES Ar-:D '. " CAPITAL ACCOUNTS 45,649,199 2521,242 12,001,477 2322,907 3694,405 2312,631 2442,959 7500,131 1916,947 1150,915 1902,987 1546,9825 355,658 lentiiujent liability on bills purchase d for foreign correspondents 6,511 417 2/2,168 540 606 306 2kQ 872 221 I63 215 208 547 :oi7imitrn>3nts to make industrial loans 8,546 — 1,290 1,534 57 — 582 4,265 — 450 155 185 '• R. notes out standi ng • 25,765,342 1541,590 5.,863,!? 97 1754,677 2192,647 1840,599 1507,159 4696,855 Il66,i4l 610,236 947,980 64o,6l4 5000,367 bilateral for F* R. notes held fry F., R. Agents: Gold certificates 11,053,00c 455,000' 3,470 ,000 550,000 645,000 760,000 615,000 2020,000 300,000 189,000 230,000 169,000 1600,000 Eligible paper 146,447 19,055 28 ,255 11,632 — 9,500 — _ — 30,530 50,100 9,575 — 3 ,000 U* 3 • Govt. securitie s 15,226,592 1100,000 2,500 ,000 1200,000 1550,000 1100,000^ 900,000 2700,000 951,592 425,000 700,000 ,500,000 1600,000 MATURITY DISTRIBUTION OF LOAFS .'.M) SECURITIES Within 16 to 31 to 6l to 91 days to 6 jnonths 1 to 2 2 to 5 Over TToottaall 1155 ddaayyss 5500 ddaayyss 6600 ddaayyss 9900 ddaayyss 66 mmoonntthhss ttoo 11 yyaassrr yyeeaarrss yyeeaarrss 5 years )iscounts arid advances .. 334400,,554433 113311,,554422 77,,441155 1166,,331166 ''..115544,,777700 —_ '. n du s t r ia 1 lp a. n s 541 460 4 5 5 . O 14 12 7 54 ]. S. Govt, securities 23,721,868 5,599,811 2,411,225 6,476,557 5.293,969 1,500,906 3,590, ,332 520,400 148,550 580,040 1/ After deducting $327,547,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ After deducting J4.,3^-3^000 participations of other ;der'-.l Re >rve BanKs http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis