H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD-OF GOVERNORS OF THE FEDERAL RESSKVE SYSTEM (Released for publication Friday morning, February 21;.not earlier) Hj a February 20, I9U7 4 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 19 member bank reserve balances decreased $2211,000,000, Reductions in member bank reserves arose from an increase of $6ii7»-0OO,OOO in Treasury, deposits with Federal Reserve Banks and a decrease of $2,000,000 in. Treasury currency, offset in part by decreases of $289,000,000 ijL nonmember deposits and other Federal Reserve accounts, $70,000,000 in money in cir culation and $11,000,000 in Treasury cash, and increases of ^36,000,000'in Reserve Bank credit and $19,000,000 in gold stock. Excess reserves of member banks on February 19 were estimated to: be approximately $6l0,*000,00p # Holdings of loans, discounts and advances decreased $51,000,000 while holdings *of Uriited States Government securities increased $115*000,000,. The in crease in holdings of United States Government securities reflects increases of $223;D00,000 -in certificates and $36,000,000 in notes and a decrease of $li|i|,000,000 in bills. Changes in member bank reserve balances and related items during the week and the year ended February 1Q, I9I4.7* were as follows: Increase or> decrease ' since Feb. lg, Feb. 12, Feb. 20, 19U7 19U7 19^6 (In millions ,of dollars) IT. S. Government securities 23,918 + 115 + 901 Loans, discounts and advances r5ii3 - :51 - , 11 Other Reserve Bank credit it 13 - 28 2 Total Reserve Bank credit 2U,67U + 36 + 887 "Gold stock 20,770 + 19 + 537 T r e a s u r y - c u r r e n c y h, 556 - 2 + 122 Member bank reserve balances 15,770 — 22j + 280 4 Money in circulation 28,276 - 70 + -321 Treasury cash 2,521; - 11 + 6 Treasury deposits with F« R. Banks 2,358 . + (hi +1,1*18 Nonmember deposits and other P.R.accounts 1,272 - 289 4 79 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lwl(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since February I9, February 12, February 20, 19)47 I9l47 19)46 A S S E TS Gold certificates 17,803,180 + 2li,005 + 554,620 Redemption fund for F R. notes 793,316 810 1,09!* # Total gold certificate reserves 18,596,1496 + 23,195 + 553,526 Other cash 337,736 + 5,31k - 10,996 Discounts and advances 3142,785 - 50,181 9,825 Industrial loans 639. + 2 1,115 U S, Govt, securities? # Bills 15,621,220 -11*3,699 +2,523,685 Certificates 7,151,7814 +222", 500 - 1*1*2,1*27 Notes 391,300 + 36,000 - 987,1400 Bonds 753,390 - 193,502 Total U. S, Government _ _ _ __ 23,917,6914 + lll*,801 + 900,356 Total loans and securiti.es 21;, 261,118 + 61*", 622 + 889,1*16 Due from, foreign banks 102 8 F fl ft. notes of other banks 123,795 - 3,262 - 30,118 Uncollected items 2,701,13)4 +301,322 + 1498,0148 Bank premises 32,316 968 Other assets 146,965 + 2,008 - 16,781 TOTAL ASSETS 146,099,662 +393,259 +1,882,119 L I A B I L I T I E S' Federal Reserve notes 2U,332,017 - 73,207 + 180,925 Deposits; Member bank - reserve account 15,769,, 656 -22l*,ll*9 + 279,550 U S.Treasurer - general account 2,358,361 +6147,508 +1,1*17,912 e Foreign 14114,236 -111,606 - 3914,2146 Other : 23li,90i4 -176,777 - 191,275 Total deposits 18,777,157 +1314,976 +1,111,91*1 Deferred availability' items 2,267,908 +329,309 + 500,098 Other liabilities including accrued dividends 1111,,112200 762 + 987 TOTAL LIABILITIES 114455,,11440088,,220022 +590,316 +1,793,9^9 C A P I T AL A C C O U N TS Cap-' Vil paid in 190,528 + 1,1486 + 10,386 Su.vplas (Section 7) 1439,823 -- + 81,1*68 Surplus (Section 13b) 27,1455 — + 27 Other capital accounts 35,65I4 i+ MI 3,711 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Il6,099,662 +393,259 +1,882,119 Ratio of 2old certificate reserves to deposit and F. R. note 1i ab i111 i es c omb i ne d' U3.1? Contingent liability on bills purchased for foreign correspondents 8,5147 1,1*81* 8,5147 Commitments to make industrial loans 8,067 95 6,508 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.ii.l(b) •STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 19, I9I47 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas SanFran. Gold certificates , 17,803,180 759,911 5,389,1?1+ 870,81+3 1275,716 986,660 9k9,973 3183,863 576,405 3k3,905 590,218 ii55,6iii 2^20,893 ; Redemption fund for * F. R. notes 793,316 5k,Qh5 121,063 59,787 76,72k- 58,503 k5,5l2 ik5,5ok 16,169 21,21+1- 33,781 2k,779 105,1,08 Total gold certificate "S e r v es 18,596,1+96 81k,756 5,510,237 930,630 1352,1+1+0 I0li5,l63 995,1+90 3329,367 622,57k 365,ll;6 623,999 1+80,393 2526,301 other cash 337,736 30,1+07 65,oi+i+ 19,292 32,li77 19,729 27,80!+ 1+5,197 l6,6ko 7,385 ik,700 ll+,525 kk,536 Discounts and advances 31+2,785 19,665 64,051 27,902 3l+,332 22,753 6,83k 7k,210 lit,758 36,1+95 16,558 10,37k iu,353 Industrial loans 639 21+ — 615 U. S. Govt, securities5 Bills , - 15,621,220 902,300 3,577,118 1089,661+ 1396,723 908,01+7 757,133 2911,987 66k,656 1+03,118 697,860 522,922 1789,672 Certificates 7,151,781+ 482,507 1,630,710 -527,828 635,310 1+1+1,0I16 370,685 9l6,7k2 383,539 208,567 31+1,186 319,596 69k,013 Notes 3^1,300 26,1+00 100,165 '28,880 '3k,760 2l+, 132 20,281 50,158 20,967 11,1+12 18,667 17,u56 37,972 B°ndS 753,390 50,829 192,352 55,603 66,925 1+6,1+62 39,0^9, 96,573 1+0,1408 21,971 35,9kl 33,667 73,no Total U. S. Government securities' 23,917,69!+ lk62,036 5,700,8k5 1701,975 2133,718 11419,637 1187,1148 3975,u6o 1109,6140 6145,068 1093,67k 893,671 2594,772 Total loans and securities" 21+,261,118 lu81,725 5,76)4,896 1730,k92 2168,550 Ikk2,kk0 1193,982 1+0U9,6?0 112!+,398 681,563,1110,232 90l|,Olt5 26no.^5 Due from foreign banks io2 6 l/ 33 8 9 5 l + i l+ 4 3 k 3 9 F.R.notes of other banks 123,795 2,739 To,387 5,256 7,017 31,k7k 114,530 11,503 6,362 3,858 5,156 k,k73 15,19p Uncollected items 2,701,13k 2oU,9^9 5U3,l405 159,376 246,255 217,1-10 131,059 U55,7o6 129,1461 71,027 125,579 11^,223 252,1314 Bank premises 32,316 1,292 3,kkl 3,158 3.8U 2,679 1,522 3,050 2,007 1,237 2,515 792 1,782 Other assets k6,965 3,021 10,960 3,030 k,657 2,833 2,669 6,21+8 2,972 1,33k 2,203 2,212 4,826 TOTAL ASSETS [46,099,662 2538,9k5 11,919,403 2351,7k2 38l5,2k6 2761,733 21+16,360 7900,755 I90l4,ul8 1131,553 18314,338 1520,666 5U53,953 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+.i'(£) STATEMENT OF CONDITION QF.THE... FEDERAL;. RESERVE.-BANKS ON FEBRUARY 19-, 191+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 Reserve notes 24,332,017 11+1+5,1+76 5,540,166 1661,510 2081,754 1719,095 ll+02,756 1+516,882 1094,373 588,327 909,875 582,513 2789,290 Deposits: Member bank-reserve acct» 15,769,656 .698,81+5 l+,838,77l+ 790,577 1188,997 692,820 716,551 2295,51+1+ 001,057 1+06,165 770,176 739,903 2030,447 U.S.Treasurer-general acct.2,358,361 138,759 584,651 173,101 221,061+ 105,683 78,163 582,878 50,227 50,198 52,250 57,557 263,830 Foreign l+U+,236 2l+,711 1/154,187 30,93k 35,517 18,713 15,658 51,939 13,367 9,547 13,367 12,603 35,695 Other 23l+,90l+ 2,110 156,416 2,01+9 7,1+23 2,624 1,533 3,61+5 6,730 2,391 1,899 551 47,555 Total deposits 18,777,157 861+,l+25 5,734,028 996,461 1453,001 819,840 811,905 2934,006 671,381 468,301 837,692 810,594 2375,523 Deferred availability items 2,287,908 184,129 426,678 137,056 215,650 187,666 172,587 354,300 112,746 56,329 111,068 102,902 226,737 Other liabilities including accrued dividends 11,120 613 2,739 671 1,063 517 477 2,311 4ii 423 451 452 1,012 TOTAL LIABILITIES 45,408,202 2494,643 11,703,611 2795,698 3751,468 2727,118 2387,725 7807,559 1878,911 1113,580 1859,0661 1(96,461 5392,562 Capital paid in 190,528 11,153 67,213 14,127 18,604 7,981 7,245 22,713 6,267 4,171 6,295 7,021 17,738 Surplus (Section 7) 439,823 27,557 136,549 34,720 41,394 20,676 18,663 65,078 16,577 10,997 15,729 13,777 38,106 Surplus (Section 13b) 27,1+55 5,012 7,255 4,489 1,007 3,325 702 1,1+29 521 1,073 1,137 1,307 2,140 Other capital accounts 55,654 2,530 4,777 2,708 2,773 2,635 2,465 3,976 2,142 1,932 2,161 2,100 3,407 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,099,662 2558,945 11,919,403 2851.742 3815,246 2761,733 24l6,860 7900,755 1904,418 1151,553 1384,388 1520,666 5453,953 Contingent liability on bills purchased for foreign- correspondents 8,547 547 2/2,735 692 795 4l9 351 1,162 299 2l4 299 282 752 Commitments to make industrial loans 8,067 — —- 1,166 1,596 73 — 380 4,225 —- 1+50 177 F. R. notes outstanding 25,043,638 1493,-112 5,714,653 1704,352 2135,548 1767,62 6l44l,520.4602,549. 1127,677 603,1+69 931,382 608,273 2913,877 Collateral for F. R. notes held by F. R.-Agents; Gold certificates 10,688,000 455,000 3,470,000 525,000 645,000 660,000 590,000 1710,000 300,000 184,000 280,000 169,000 1700,000 Eligible paper 124,671 11,230 :?1,875 17,226 — 16,295 — — 10,145 35,200 11,945 2,755 U. S. Govt, securities 15,535,475 1100,000 2,400,000 1200,000 1550,000 1160,000 900,000 2900,000 950,475 1+25,000 700,000 500,000 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 uver Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 342,735 299,246 17,765 23,849 1,925 Industrial loans 639 568 1 36 13 7 32 U. S. Govt, securities 23,917,694 4,108,823 i*,ip,155 5,609,237, 4,347,261 1,550,431 4,295,997 „3 20., 4.0. 0 , litf,350 530,01+0 1_ ter deducting 3259,693,000 participations of c ther reaeral Reserve aanks 2/ if ter d.f-v .8?. 2.C0C participations-of o^her Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis