H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF- GOVERNORS OF THE FEDERAL RESERVE 'SYSTEM (Released for Publication Friday morninf, Aarch 7; not earlier) March 6, I9U7 CONDITION OF THE? FEDERAL RESERVE liATKS During the week ended March 'p, member bank preserve /balances increased $lii9,000,00'0. Additions' to member'bank reserves arose from decreases of ^965^000,000 in Treasury deposits vdth Federal Reserve Banks, $108,000,000 in ncnmeniljer deposits and cither federal Reserve accounts and $50,000,000 in Treasury cash and an .increase .of $5U 000,000 ,in eold stock, offset i r: part by a decrease 4 of 8^957*000,000 in ReserveBank credit and an increase of 875,000,000 in money ; in circulation. Excess reserves of member banks on March 5 —;a*e estimated to be approximately |?60 ,000,00(1. ' * Holdings of loans,, discounts and advances' decreased $153*000,000 and of United" State's Government security s '7r 0?, 800^ "\ jQ rTho d^cr ir-, ir aoldings of >4 United States Government securiti s r >fl cjs d~cp <* r s DV ' m 0 A:0 A 000 in bills and $202,000,000 in certificates and an Iror.o t. «U' ^8> A* , J > A notes. Changes in member bank.r, ervt .baj ine.s^ uni r ] week and the year ended March n Ipi,?, w.r- es fallows? 9 ^increase or decrease since Airch 5* Feb, 26, March 6, I9ii7 I9hl 1946 ,(,in millions of dollars) U. 3, Government .securities 23,21,2 - 902 +• 716 Loans/ disc omits ;arid ' advances 2f»;0 ~ 153 20I4 Other Reserve Bar^k credit >:e «. - 3 , - h Total Reserve Bank credit 23,^0)1 ^ 957, . 4- 507 Gold stock 20,476 4- '&"' t + litii T r 0 a s>u r y currency 1,557 + 1 + 106 .. TA - r b - nk res . rve b „i 1 ane e s hAA + lh9 : + [»56 ,.euey 'in circulation" ekj^pO + 73 4- 376 7: »ju'jrv cash •1>531 „ 50 - 953 Tr .Sir/- d^esjts with *\ R. Banks XV-7 965 + 7QCS . 1 . ] b r I posits apd other F.R f accounts 1,73U 108 •f 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lj.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Inore a s e or de cre a s e since March 5, February 26, March 6, 19U7 19^7 19^6 ,.?, c- C* r*> m o t\ b b xu 1 b Gold certificates 13,370,177 + 79,997' +1,0635612 Redemption fund for E. R. notes 793,182 - 1,695 + 21/5U9 Total gold certificate reserves t, 163,359 + 76,302 +1 ,085,161 Other cash 353,1485 ,» 14,225 - 12,73U Di scounts and advances r -, -7 - - ry r- y - 153,196 - 203,827 £-;)-?, 0? > Industrial loans 931 - 13 « 557 U.S. Govt, securities? Bills 15,060,068 - 6lo,oli7 +1 ,878,711 Certificates 6,93l,118 - 201,666. - 111,296 i Notes Wi.,300 4- 13,000 - 928,ii00 Ponds 753,390 — 193,502 Total U. g. Government securities 25,21a, 576 - 601,713 ++ 715,513 Total, loans and securities 25,1+81,910 - 95li,922 + 5H,129 Due from foreign banks 102 ..« - 8 F. R. notes of other banks 107,351 - 13,397 - 35,320 Uncollected items 2,276,317 - 22l4.,357 + 5141,552 Bank premises 32,2 02 .. 37 ' - 990 Other assets Ul.zki -. 1,769 - 8,822 TOTAL ASSETS ]o,)J 2,j 97 -1,120,1+05 +1,879,U68 4 4 L I A 3 I L I TI ES Federal Reserve notes 2^,337,769 •*- 27,761 + 212,057 Deposits: Member bank - reserve account 15,929, pqii. + li»8,387 , + 1;35,213 U.S.Treasurer - general account l,ii07,187 - 9614,593 + 795,397 foreign 395,529 ~09,726 - 355,056 Other 712,6U9 - 2Q,53ll f 309*71*9 Total deposits 12,6^4,900 - 0*26,273 +1,235,303 Deferred availability items 1,90);,220 - 222,013 + 3l+5,8ll| Other liabilities including accrued dividends " 11,233 - 1,129 - 328 TOTAL LIABILITIES [Jv7^159 -1,121,65k +l,792,8i|6 C A P I T AL A CC 0 U N T 3 Capital paid in 190,817 + 109 + 10,08k Surplus (Section 7) li39, 823 ~- + 81,1|68 Surplus (Section. 13b) 27,IjOO ~~ + 27 Other capital accounts 36,2ii3 + l,ll|0 1|,957 TOTAL LIABILITIES AND CAPITAL ACCOUNTS l ^ ^ ' J ^i ~-]j2oM^ +1,879,168 Ratio of gold certificate reserves to deposit and F. R. note 1 i abilities c omb ine d ) ^ ''0 1,1 % 1 1 # # Contingent liability on bills purchased for foreign correspondents 9,529 688 9,529 Commitments to make industrial loans 8,11+9 UO .. .6,377 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.UU/b), STATEMENT OF CONDITION Ov THE FEDERAL RESERVE BANKS ON MARCH 5, lykl (In thousands of dollars) o o T~> m c* JX b ^ £J 1 ^ Total Boston Now York Phi la. Cl^ve* Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 18,370/177 7uli,i55 5,951,188 867,23512146,392 1023,667 969,6233050,072 601,202 376,5A2 660,911 )i53,B55 2I|25,335 Nodoifip tion fund for F- l- nofces 795,182 -5li,757 120,615 59,629 76,565 59A5u 1x5,366 A5,236 16,150 21,220 35,7u9 2i ,7ko 105,291 4 Total gold certificate roserves " 19,165,359 798,892 6,071,801 926,866 1322,957 i.}63,521 10111,991 3195,358 677,332 397,762 69^,660 1x76,595 2530,626 Jiher cash 333,785 31,051 6k,375 21,696 33,835 19A86 25,123 1x6,722 15,939 7,9A5 11,130 12,916 1x3,665 discounts and advances 239,053 22,330 71,758 111,051 17,509 16,958 6,5olx 30,760 5A53 25,51,5 5,013 6,37U 16.7JU8 Industrial loans 9,31 21 — 960 -•. t>. Govt, securities: Bills 15,060,068 888,257 3Aii2A35 101,7,690 15A,232 892,587 71x7,9^2 281x2,1x85 581,809 1x01,633 635,067 51x3,735 1537,ihS Certificates 6,93li,ll8 1x70,833 1,789,292 515,223 619,571 u30,532 361,890 395,198 375,050 203,765 333,092 312,211, 677,U03 Notes 14ilx,300 29,956 113,827 32,777 39,Ul!x 27,353 23,022 56,9^9 23,^39 12,962 21,190 19,862 73,09k Bonds 753,390 50,793 193,015 55,77 66,851; 1x6,672 59,058 96^66 koM8 21,930 35,931 33,679 73,073 Total U B Government # m securities" 23,21x1,876 lli39,89l 5,533,569 1651,27U 2,70,101 1396,9^9 1171,892 3891,193 1121,176 61x0,3u0 1075,260 9lli,U90 2330,716 Total loans and securities" 23,1x81,910 11x62,292 5,610,32? 1666,285 2007,610 1^13,907 1178,396 3921,958 1126,629 665,865 1080,295 920,661; 2377,ix61x Due from foreign banks 2 6 l/ 33 8 9 5 lx llx lx 3 . 1+ 3 9 i0 /.R.notes of other banks 107,851 2,735 HT, I96 3,593 5,^13 2k,klh 13,309 11,!|12 5,^77 3,7.9!+ 5,108 h,012 llx,323 Uncollected items 2,276,317 177,933 1x03,322 129,560 2o5,8lx6 189,055 157,966 397,270 I07,70lx 60,227 125,965 116,305 205,131 Bank premises 32,232 1,28? 6,1x22 3,lli6 3,831 2,672 1,519 3,073 2,003 1,235 '2,509 769 1,776 Other assets 77,21,1 3,171 11,1+00 5,llx9 4,53ll 2,820 2,6o! . 6,1x05- 2,??k- 1,51x8 -2,286 1,997 lx,533 4 TOTAL ASSETS I;5,ulx2,lx97 21x77,372 _12,183,876 275U,33U 3667,01x2 2735,51x0 2393,912 7562,180 1908,082 1136,189 1921,957 I535,u8i 5lli7,532 l/ After deducting $69,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 5, 191+7 (In thousands o.f 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 2^,557,769 ll+52,1+0° 5,558,261+ 1662,635 208!+,696 1714,650 11+02,391 1+502,956 1095,66l 59l,9h9 915,026 585,1+1+7 2771,705 Deposits: Member bank-reserve acct. 15,929,54+ 709,287 4,906,501+ 790,1+75 1196,097 755,578 71+8,577 2310,068 6ol+,896 i+ll+,883 800,721+ 752,662 1962,193 U.S.Treasurer-general acct. 1,1+07,187 91,859 388,298 102,1+21+ 97,022 62,960 1+9,708 305,1+1+8 63,565 50,??l+ 55,Ol!+ 1+9,65O Foreign 395,529 24.172 l/il+1,206 yhti'yu 10,301 15,515 50,795 15,072 9,557 13,072 12,325 52,952 Other 712,61+9 1,725 655,556 2,861 8,709 7,279 2,056 3,214+ 6,809 2,931+ 1,705 2,211+ 59,559 Total deposits 18,1+1+4,909 "827,021 ~6,069~561+ 926,012 1336,562 821,918 815,1+51+ 2669,553 688,31+2 1+77,1+28 ^70,515 816,851 2125,709 Deferred availability items 1,954,228 152,795 556,817 103,742 177,680 165,625 ll+6,297 513,762 97,939 50,190 110,517 108,1+85 187,379 Other liabilities including accrued dividends 11,255 61+8 2,922 667 1,092 565 1+71+ 2,21+5 1+79 572 , 1+50 1+15 91+6 TOTAL LIABILITIES 1+li,71+8,159 21+32,875 11,967,567 2698,056 3600,030 2700,733 256'+,616 7i+88,5ll+ 1882,1+21 1119,959 1896,1+88 1511,178 5085,759 Capital paid in 190,817 11,162 67,218 l!+,l62 13,621+ 8,056 7,261+ 22,74l 6,278 i+,180 6,501 7,036 17,315 Surplus (Section 7) 1+39,325 27,557 156,51+9 34,720 1+1,391+ 20,676 18,6cV 65,078 16,577 10,997 15,729 15,777 58,106 Surplus (Section 13b) 27,455 5,012 7,255 hM9 1,007 5,525 762 1,1+29 521 1,075 1,137 1,507 2,11+0 Other capital accounts 36,21+5 . 2,763 5,289 2,907 2,937 2,765 2,607 i+,1+18 2,235 2,000 2,302 2,185 5,732 -j TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+5,1+1+2,1+97 21+77,372 12,183,876 275l+,35l+ 5661+,0l+2 2755,51+0 2593,912 7582,180 1908,082 1138,189 1921,957 1535,1+31 511+7,552 Contingent liability on bills purchased for foreign correspondents 9,529 610 2/5,01+9 772 886 I+67 3$1 1,296 33I+ 238 354 3*4 838 CommitmeDts to make industrial loans 8,149 — — 1,300 1,569 73 — 380 l+,200 — 1+50 — 177 F. R. notes outstanding 2l+,983,982 11+86,734 5,717,404 1702,568 2154,266 1756,559 11+40*091 4580,1+38 1129.61+3 6(34,093 951,788 667,310 2893#503 Collateral for F. R. notes held hy F. R. Agents: Gold certificates 10,655,000 1+55,000 5,1+70,000 525,000 61+5,000 625,000 590,000 1690,000 300,000 184,000 230,000 169,000 1700,000 Eligible paper 86,01+2 13,91+5 '• 29,582 5,575 — 10,500 -— — 81+0 22,250 1+00 — 5,150 U. S. Govt, securities 15,511,369 1100,000 2,1+00,000 1200,000 1500,000 1160,000 900,000 2900,000 926,569 1+25,000 700,000 500,000 1600,000 MATURITY DISTRIBUTION OF LOAD'S AND SECURITIES Within 16 to 3511 ttoo 6l to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 6600 ddaayyss 90 days 6 months to 1 year years years 5 years Discounts and advances 259,055 103,254 22,1+84 112,920 Industrial loans 981 915 4 5 14 6 7 32 U. S. Govt, securities 25,2Z+1,876 5,491,553 3,136,351 4 4 , , 7 7 2 2 2 2 , , 7 7 2 2 5 5 4,91+5,530- 2,213,729 5,680,585 520,1+00 143,550 530 ,01+0 l/ After deducting $253,967,000 participations of other Federal Reserve Banks. 2/After deducting .?o,i+oO,000 p ticipations of other Federal Reserve Banks. ar Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis