H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TIE FEDERAL RE3SRV3 SYSTEM (Released for Publication 'Friday morning:, January 2i|; not earlier) H,lul January 23, I9I47 CONDITION OF THE FEDERAL RESERVE,.BANKS During the week eruied January! 22., member bank reserve "Balances 'decreased $123,000,000, Reductions in member bahk reserves arose from increases,.©f ; $1; 53,000,000 in Treasury deposits witlr Federal Reserve Banks, $35,000,000 in nonmember deposits and other Federal Reserve accounts, and $1±,000,000 in Treasury cash, offset in part by increases of $125;000,000 in gold stock $nd 596,000,000 in Reserve Bank'credit and a decrease of $lii9,000,000 in: money in circulation. -Excess j reserves of member banks on January 22 were- estimated to be approximately $790,000,000. * Holdings of loans,: dis.co.unjtsjand advances decreased $5*000,000, while t holdings of United States Government'~secarities increased $103*000,000. The in crease in holdings of United States Government securities reflects, an increase of $235,000,000 in bills and a decrease of $.131,000,000 in certificates. Changes'Oin member bank reserve balances *and related items during the week and the year, ended January 522, I9I4.7, were as follows: Increase or decreasesince Jan. 22, Jan. it; Ja n. .23, 191+7 M7- 19^6 ( In mil lion s of dollars) U. S. Government securities 23,1*30 + 103 • • + 89 Loans, discounts and advances • 239 -' ; ^ ! ! * 3D Other Reserve Bank credit 532 - - :3 ; • 161 •! t Total Reserve.. B^nk credit 2i|,201 + q£ '! 279 ; +• Gold stock 20,692" + 125 + 557 ; Treasury currency • 14,559 «• 1 . * 17U •,' i 16,308 - 123 + • Uh9- Member .bank, rjeservo\ balances; 28,36^ - 1U9 + 392" Money in circulation 2,295 + h + 13 Treasury cash 862 + 1*53 + 28ii Treasury deposits-with F.Ri Banks 1,617 + 35 ! 128 Nonmember deposits and other F.R.accounts Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(a) STATEMENT OF CONDITION. OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since January 22, January 15* January 23 * ' I9k1 1947 19^6 A S S E TS Gold certificates 17,731,180 • 126,004 . + 567,615 Redemption fund for F. R. notes , .798,173 - 7,978; • 3,749 Total gold certificate reserves •18,529,353 + 113,026 , + 571,364 Other cash 363,242 + 21,613 + 24,023 Discounts and advances 238,017 - 4,897 + 30,372 Industrial loans . 534 1,309 - 70 U. S. Govt, securities: Bills 1 1V072..OO8 * 234,618 +2,289,975 Certificates 7,249,512 - 131,000 - 936,699 Notes 355,300 -1,070,900 Bonds - 195,502 755,390 Total U. S. Government securities -. ' 23,430,210 +103,618 + 88,874 Total loans and securities 23,668,761 + 9,8,651 t 118,437 Due from foreign banks' ; ' , 102 P,R.-notes of other banks 171,981 - 3,586 344 Uncollected items 2,823,39 "1 + 8,651 + 620,575 Bank premises . 32,399 _- 1 961 Other assets ;'• ^9>2'56 * 3,748 - 15>767 TOTAL ASSETS u5,643,992 + 247,102 +1,317,319 L I A B I L I T I ES B'ederal Reserve notes 24,470,442 - 132,008 + 269,530 Deposits: Member bank - reserve account 16,303,3 31 - 122,991 + 448,919 U.S.Treasurer - general account 861,893 • 452,7.30. +• 284,187 Foreign . . • • • 730,631 + 19.783 - 106,642 Other 275,615 •+ 17,076 • - 128,358 Total deposits .H, 174,470 + 366,603 • 498,126 Deferred availability items 2,296,937 + 11,253 • + •' 459,997 Other liabilities including accr'ue"d: dividends 10,162 574 * 321 TOTAL LIABILITIES 44,960,061 + 245,274 +1,227,974 C A P ITAL XiCCwUIv T_S Capital paid in ' ': 138,523 * 338 + 9,177 Surplus (Section 7) 439,823 + 8i;46s Surplus (Section 13b) 27,453 + 27 Other capital accounts . . 23,550 * 1,490 1,327 TOTAL LIABILITIES AND-CAPITAL ACCOUNTS 45,645,992 + 247,102 +1,317,319 Ratio ef gold certificate reserves to deposit -and F. R. note liabilities combined k3M -- + .5% Contingent liability on bills purchased for foreign correspondents 7,054 - 74o + 7,054 Commitments to make industrial loans 3,262 + 106 + 6,675 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lu"i(b) -STATEMENT OP-CONDITION OP THE FEDERAL RESERVE BAMS ON JANUARY 22,19U7 (In'thousands of dollars) A S S E TS .Total Boston New York " Phi la-, "Cleve. Rich. Atlanta Chicago St.Louis-• Minn, Kans.Cy. Dallas SanFran. Gold certificates 17,731,18Q 71*7,1*11* 5,581,522 851,587 1195,087 1002,95© 979,671* 2858,792 577,563 365,851 650,937 1*75,139 21*67,081* Redemption fund for .-• .. - ' F. R. n.tes 798,173 55,218 122,620 60,1*31 77,199 59,370 1*5*901 11+5,151; 1*6,315: 21,505 55,9H 21*,895 105,856 Total gold certificate reserves-" 18,529,555 802,652 5,703,9l*2 9H,818 1272,286 1062,520 1025,575 5005,9l*6 625,878 587,136 '661*,81*8 1*98,052 2572,9^0 other cash ' 563,2^2 50,256 65,931 23,595 5l*,782 26,958 50,086 1*7,551* 2o,151: 6,191* • 19,081 I7,0ii5 1*1,631 Discounts and advances 258,017 16,502 65,1*06 17,720 21,78*4 15,368 10,339 26,381 15,1*86 16,683 9,1*55 9,111 13,982 Industrial loans 53!^ 21; — 510 - - • U. S. Govt, securities} Bills. ..." 15,072,008 880,272 3*290,793 1021,389 1559,71*2 90l*,9l*8 751,1812895,806 677,1*30 1*17,909 677,525 535,1*67 1661,1*98 certificates 7,2149,-512 1*89,271 l,85l*,90l* 555,165 61*l*,l*5l 1*1*7,172 575,807 929,298 588,582 211,569 51*5,900 525,905 705,690 Notes . - -.555^300' 23,979 90,909 26,229 31,585 21,916 18,1*18 1*5,51*5 19/01*1* 10,360 -16,952 15,375 3l*,l*88 Bonds -755,390- .50,31*6 192,767 55,616 66,973 1*6,1*71 59,055 96,576 1*0,582 21,967" 55,91*7 55,661 73,129 iotal u. s. Gove rnment securities 23,1*50,210 11*1*1*,368 5,1*29,375 1658,599 2102,751 11*20,507 1181*, 1*61 5967,225 1125,!iS8 661,605 1076,522 906,906 21^72,305 Total loans aanndd securities 25^668/761 11*60,691* 5",l*'9l*,779 1656,629 2l24,555;ili55,875 II9I*,800 5993,6®6 111*0,97I* -678,288 1085,777 916,017 2u86,787 Due from foreign banks. 102 ' " 6 - l/55 8 9 5 1*. . ll* 1* ' - 5'. 1* 5 9 ; F.R.notes of other banks : 171,931,'. 5,617 ' 2l~ I9I, 7,157 15,26l 1*0,596 16/189 18,201* . 9,*21|7 '5/665; 8,01*1 i*,l*8l* 19,51*8 Uncollected items •• 2,828,898 186,792 557,690 11*8,050 2i|l,990 282,059 21*2,005 1*08,1*61* H*l,05l* 75,215 : H*l*,510 159,018 262,515 Bank premises • 52,599 1,297 8,1*59 5,170 5,850 2,686 1,525 5,057 "2,011 1,21*0 2,521 795 1,788 other assets 1*9,256 5,256 10,975 5,035 1*,758 2,98l* 2,755 7,965 5,096 1,51*5 2,067 2,535 1*,7Q1 TOTAL ASSETS ' U5:61*3,992 2l*90,.550 li',866-,ooi 2753,1*68 5695,1*51 2855,21*5 2512,917 71^32,810 l'9l*oV595 1155,082-'1926,6^9 1577,'727 5589,719 l/ After deducting $69,000 participations #f.. othe;~ Federal Reserye^ Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l4..1(-c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 22, 19h7 (in thousands of dollars) L I A B I L I I E S Total Boston New York Phila . Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San-Fran, # Federal Reserve notes 2k,U7Q,hh2 1-2+5-2,661 5,5*80,737 1667,008 2086,1*10 17^3,651 12+16,171 2+520,^90 1100,268 588,287 914,198 589,066 2819,2+95 Deposits: Member bank-reserve acct. 16,308,331 707;,6l+l 5,035,779 80i|,131 1210,872 726,822 750,859 2390,808 620,7^2 2+11,72+2 770,82+6 761 ,.0i4+ 2117,014.5 U.S.Treasurer-general acct. 86l,393 61,2.38 202,033 ' 2+5,662 r6,388 63,827 70,891 80,877 38,560 53,377 59,935 2+8,765 60,090 Fo reign 73°,631 i+3 ,-657. 1/269,320 52^,913 63 ,01=8 33,219 27,795 92,199 23,728 16,9148 23,728 22,372 59,70i+ Other 273*615 2,527 189,332 2,375 10,693 3,oi+5 4,565 8,768 2,639 541 688 l+5»8?7 Total deposits , 18 ,17^-^4-70 815,263 5,696,1+61+ 907,081 1361,001 826,913 352,110 2568,1^4-9 691,798 li3l:,706 855,100 332,869 2232,71o Deferred availability iteras 2,296,98? 1 1 T ( O U jlj l x rl J . 573.290 123,219 183,896 21+7,982 215,382 299,52+0 122,71*1 63,582 131,929 131,496 225,979 Other liabilities including 10,162 506 2,329 52+5 931 1+76 iil+U 2,403 354 539 '; 374 U5 31+6 accrued dividends TOTAL LLABILITIES 2+4,960,061 21+1+6,581 11,652,820 2697,853 3632,233 2319,022 2l+3l+,107 7390,682 1915,161 1137,114 1901,601 1553,81+6 ;329,056 Capital paid in 138,523 11,120 65,337 11+,062+ 18,1+69 7,388 7,191 22,585 6,22? 14,135 6*249 6,902 17,606 Surplus (lection 7) 1439,823 27,557 136,51+9 3324-,i7,72200 11++11,,339911++ 2200,,007766 13,663 65,0?8 16,577 10,997 V15,729 13,777 38,106 Surplus (Section IJb) 27,^55 3,012 7,253 22++,,ll++o399 11,,000077 33,,332255 762 11,,14+2299 521 1,073 1,137 1,507 2,ll+0 other capital accounts 28,330 2,260 3,2+92 2,51+2 2,31+3 2,332 2,194 3,036 1,90 J 1,763 1,933 1,895 2,331 TOTAL LIABILITIES iJJD . CAPITAL ACCOUNTS h5,oli3 l9 992 21+90,530 .11,866,001 2753,2+63 3695,2+51 2353,22+3 2512,91? 7.1+82,810 191+0,395 1155,082 1926,61+9 1577,727 5339,719 Contingent liability on bills purchase .for foreign correspondents ?-,05U 2+52 2/2,257 571 656 31*6 .239 959 247 176 22+7 233 621 Commitments to make industrial :' loans . 8-,262 1,200 .. 1,596 75 331 4,225 450 155 180 F. ii. notes outstanding 25,366;, 92+4 1518,622+ 5,756,516 1719,396 2152,582 1807,359 12+66,173 2+656,618 Hl+1,567 606,013 937,953 623, 308 2930,135 Collateral for F. ft. notes held by F. R. Agents: Gold certificates 10,363,000 2+55,000 3,2+70,000 525,000 645,000 660,000 590,000 1780,000 300,000 139,000 230,000 169,000 1300,000 Eligible paper 67,634 6,875 13,270 5,739 — 8,050 -— — 10,330 13,000 4,300 1,020 U. S. Govt .'•. securities 15,526,306 1100,000 2,500,000 1200,000 1550,000 1200,000 900,000 2900,000 951,306 1+25,000 700,000 500,000 1600,000 . MATURITY DISTRIBUTION OF LOANS AND SaCURITISS .Within l6 to 31 to 6l to 91 daysto 6 mopths J to, 2 2 to 5 Ovjr ; Total 15 days '30 days 60 days 90 d; c V k 6 months to 1 year years years 5 years Discounts and ad\ances 253,017 83,394 12,536 112233,,661199 13,2+63' ; — —- Industrial loans 552+ 2+57 h 55 5 13 9 7 *1+ U. S- Govt, securities 23,2+30,210 5,062,2425 2,331,423 55,,335533,,119900 5,337,021 1,256,786 3,009,770 320,2+00 12+8,350 580,01+0 l/ After deducting $i|.60,997,000 participations of other Federal Reserve Banks. 2/ After deducting §2.1,797,000 participations ^f other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis