H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, March lli; not earlier) K.U.I March 13., l^kl 'CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 12 member bank -reserve balances decreased $83,000,000. Reductions in ;member bank, reserves arose from .a decrease of $2a,00O,000 in Reserve Bank'credit and increases of $1|, 000,000 in Treasury cash, $22,000,000 in treasury deposits.with Federal Reserve Banks «and $65,000,000 In-nonmember deposits and other Federal Reserve accounts,- offset in part by -an 'increase of -$27,000,000 in gold stock and a decrease of $5,000,000 in money in circulation. Excess reserves of member banks on March 12 were estimated to be approximately $720,000,000*. Holdings of loans, discounts and advances, decreased $2,000,000 while holdings of United States Government securities increased $5,000,000. .The increasein holdings of United States Government securities reflects an increase of $218,000,000 in bills and a decrease of'$213,000,000 in certificates. Changes in member bank reserve balances and related items .during the week and the year ended March 12, I9U7, were as follows % Increase or decrease since March 12, March 5* March'lj, ... 19^7 19^7 19^6 (In millions of dollars) ! U, 3. Government securities 23,2i;7 + 5 + 85ii Loans, discounts and advances 238 - 2 - klh Other Reserve Bank credit 29l| - 28 - 23 Total Reserve Bank credit 23,780 -, 2U H* 357 Gold stock 20,403 + 27 +: .171 Treasury currency a 557 -- + ;ioi Me mb e r- b a nk r e s e r ve b a 1 anc e $ k I5,eii7 — 83 •4- 13li Money "in circulation 28,330 ., ^ -k 3Slt Treasury cash 1,335 + hy -: •925 Treasury deposits with F, R, Banks 1,1|2 + 22 + 928 9 Nonmombor deposits and other F^R/accounts 1,799 + ' 65' + 59 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(a) STATEMENT OF CONDITION OF THE TVfELVS FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since March 12, March 5> March 13, l9hrJ 19^7 19U6 A S S E TS Gold certificates 10,369,920 21*9 +1 ,080,565 Rede rapt ion fund for F, R. notes 791, h 10 - 1,772 + 2,776 Total gold certificate reserves 19,161,330 - 2,021 +1 ,085,139 Other cash 329,000 - 4,1-185 9>oio Discounts and advances 237,2314 - 1,319 - :473,3H Industrial loans i,ol*i + 60 501 IT. 3 Govt, securities} 0 Bills 15,270,557 +210,1409 ++11 ,941,1*1*5 Certificates 6,771,118 -213,000 ++ 3l*,70l* Notes 1*1*1*, 500 920,1*00 Bonds 753,390 193,502 Total U. S. Government 25,21*7,365 + 5,489- 3514,21*7 Total loans and securities 23,.1465,6)40 + 3,730 + 300,1*35 Due from foreign banks 102 „„_ - 8 F. R.. notes of other banks 107,755' 118 29,582 Uncollected items 2 J,.10,540 +1514,223 + 183,508 Bank premises 32,232 1,002 Other assets 48,853 + 1,612 8,558 TOTAL ASSETS 15,575,438 +132,91+1 +1 ,598,91*2 L I A B I L I T I ES Federal Reserve'notes 24,305,396 - 31*, 375- + 231,972 Deposits: Member bank - reserve account 15,81*6,863 - 82,681 + 183,693 U.S.Treasurer-general -account 1,1*29,303 + 22,116 + 927,835 Foreign 523", 315 +127,786 219,820 Other 6^8,194 - 614,1*55 + 181,760 Total deposits 18,447,675 + 2,766 +1. ,075,1*66 Deferred availability items 2,116,185 +161,957 + 206,526 Other liabilities including accrued dividends 12,31+5 + 1,092 + 1,061 TOTAL LIABILITIES 44,879,601 +13l,U42 +1. ,515,025 A P I T A L C C 0 U N T 3 Capital paid in. 190,862. 1*5 + 10,047 Surplus (Section 7) 439,823 + 31,1*68 Surplus (Section 13b) 27,1455 + 27 Other capital accounts 37,697 + . 1,1451* 5,625 TOTAL LIABILITIBS AND CAPITAL ACCOUNTS *5,575,1*38 +132,91*1 +1,598,91+2 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined hk.tf* 1.2% Contingent liability on bills purchased for foreign correspondents 9,212 317 + 9,212 Commitments to make industrial loans 8,206 57 + 6,1*61 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

lUM(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE: BANKS ON MARCH 12, I9U7 (In thousands of dollars) ,i S 3 B T S Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanPran. Gold certificates 13,369,928 733,900 5,903,121 832,571 1259,067 1035,359 -970,965 2955,62^ 606,668 1+00,037 655,551; 159,377 2501,885 Redemption fund for i1', R. notes 791^10 5li,6i|l 120,219 59,U68 76,U35 59,l25 1*5,26? iii5,H9 u6,086 2i,li5U 33,719 21;,705 105,172 Total £old certificate ra- serves 1199,,116611,,333333 793,51+1 6,025,540 942,039 1336,302 10911,484 1016,232 3100,743 652,754 421,491 689,273 484,082 2607,057 Other cash 332299,,000000 30,5ia 65,021* 21,821* 29,752 17,1*00 27,643 44,246 lli,9l3 6,906 10,157 13,551 45,040 ai s counts and advance s 237,234 25,130 73,516 13,636 15,957 16,U50 6,404 37,1*60 8,793 3,295 5,063 5,624 20,890 Industrial loans 1,01*1 21 1,020 U. S. Govt, securities- 3111s 15,270,557 937,117 3,1^92,622 107^,982 13614,504 895.739 749,3602923,359 663,0^29^ , 1.0, ,1_9 7 6.8 1,,0..6. 8 556,2^3 1526,507 Certificates 6,77-1,118 455,939 1,737,541 499,091 599,092 417,067 350,650 067,790 364,467 197,710 322,756 302,900 656,099 A* 0"fce S 1*1*1*, 300 29,917 nli, 012 32,7149 39,311 27,367 23,009 56,. 942 23,915 12,973 21,179 19,375 43,051 -3onds 753,390 50,730 193,527 55,552 66,659 46,li05 39,016 96,556 40,552 21,998 55,912 33,702 73,001 Total U.S. Government securities 23,2147,365 a73,703 5,537,502 1662,351; 2069,566 1304,570 1162,oU-3"394a655 1117,763 642,370 1060,935 892,730 2298,658 Total loans a r>^ seci critics 23,435,6a) 1490,854 5,616,016 1677,010 2085,523 il*oi,036 li66,i*l*7 3902,115 1126,556 61*6,173 1065,990 890,554 2319,556 Due from foreign banks 102 6 l/33 F.R.notes of other banks 107,733 3,211 157027 a202 5,930 21,095 12,719 10,051 7,132 3,024 5,019 4,222 14,451 Uncollected items 2,1*10,51*0 196,421 463,510 133,092 221,889 204,035 172,293 302,997 117,99^ 64,561- 130,631 96,146 226,171 3ank premises 32,232 1,287 6,li22 3,146 3,831 2,672 1,519 3,0l;3 2,003 1,235 2,509 709 1,776 Other assets UP, 055 5,526 12,009 5,234 4,664 2,877 2,670 6,595 5,075 1,390 2,51*5 2^28 l*,6l*2 TOTAL ASSETS 45,575,430 2527,190 12,203,305 2785,355 3607,900 271.5,604 2401,527 7530,604 i92li,U79 1147,533 1905,936 11*99,175 5218,702 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+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON MARCH 12, 191+7 (in thousands of dollars) _L_I__A__B_I__L__I T__I__E_S_ Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas SanFran. -< Federal Reserve notes 2l+,303,596 11+52,012 5,51+2,002 1660,851 2088,966 1712,1+95 1598,256 1+501,1+01 1092,683 591,751 914,253 583,1+80 2765,286 Deposits! Member bank-reserve acct. 15,81+6,865 635,528 l+,9l8,652 78i+,05l+ llo7,l+Ul 752,753 737,608 2287,21+2 597,796 1+11,791+ 785,1+53 735,798 2002 ,.981+ U.S.Treasurer-general acct. 1,1+29,303 125,007 1+00,01+9 116,280 117,577 55,983 53,956 255,1+10 72,259 55,337 1+7,381 1+6,912 82,652 hh,9hh Foreign 523,315 32,91+1+ l/l75,975 Ul,337 1+7,1+60 25,006 26,923 69,1+05 17,861 12,758 17,861 16,81+1 Other 61+8,191+ 2,157 ;5&,8l+9 2,569 7,258 5,525 1,1+98 6,156 6,1)1+7 2,1+25 1,1+1+8 1,01+1+ 1+5,818 Total deposits 18,1+1+7,675 81+5,1+36 6,060,525 9l+l+,220 1559,756 819,21+7 813,985 2613,213 69l+,565 1+82,811+ 852,11+3 800,595 2176,598 Deferred availability items 2,116,185 l8l+,l+60 381,018 123,159 195,897 176,551 159,1+11 3ll+,68l 111,197 5l+,U2 113,525 90,327 2ll+,o67 Other liabilities including accrued dividends 12,31+5 658 3,205 762 1,170 652 519 2,576 1+98 612 1+82 1+21 1,012 TOTAL LIABILITIES 1+1+,879,601 21+82,566 11,986,71+8 2728,972 5625,769 2708,705 2572,151 71+36,671 1898,71+1 1129,289 1880,1+05 ll+7l+,825 5156,765 Capital paid in 190,862 11,156 67,219 ll+,l61+ 18,628 8,01+6 ,275 22,71+9 6,282 1+,181+ 6,506 7,056 17,819 7 Surplus (Section 7) 1+59,825 27,557 136,51+9 3^.720 1+1,391+ 20,676 18,663 65,078 16,577 10,997 15,729 13,777 58,106 Surplus (Section 15b) 27,1+55 3,012 7,253 i+,1+89 1,007 3,325 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other capital accounts 37,697 2,899 5,6ll+ 3,010 3,102 2,352 2,678 l+,677 2,358 2,01+0 2,361 2,232 5,871+ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+5,575,1+58 2527,190 12,205,535 2785,355 5687,900 27l+3,6ol+ 21+01,527 7530,601+ 192l+,l+79 Hl+7,535 1905,956 ii+99,175 5213,70 Contingent liability on bills purchased for foreign correspondents 9,212 590 2/2,91+8 ?l+6 857 1+51 378 1,253 322 230 522 50l+ 811 Commitments to make industrial loans 3,206 1,21+1 1,689 75 380 i+,200 1+50 173 F. R. notes outstanding 2l+,972,28l 1^87,118 5,715,51+3 1701,1+76 211+0,173 1755,171 11+33,505 1+577,111 1126,56!+ 6ol+,677 953,355 605,718 2837,072 Collateral for F. R. notes held by F.. R. Agents: Gold certificates 10,785,000 1+55,000 5,1+70,000 525,000 61+5,000 625,000 590,000 1690,000 300,000 18^,000 280,000 169,000 1350,000 Eligible paper 79,925 16,695 36,3^+0 2,960 — 10,000 — — !+,i8o — I+50 .9.300 U. S. Govt, securities 15,320,501 1100,000 2,1+00,000 1200,000 1500,000 1160,000 900,000 2900,000 935,501 1+25,000 700,000 500,000 1600,000 MATURITY DISTRIBUTION OF LOAftS AMD 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 237,231+ 112,339 6,31+5 lll+,620 3,380 Industrial loans 1,01+1 972 1+ 55 ll+ 6 3 32 U. S. Govt, securities 580,01+0 23,21+7,365 3,1+70,671+ 5,191,650 !+, 826,722 ii++,,997733,,991177 2,126,729 3,603,835 520,1+00 ll+8,550 l/After deducting ^3^7,023,000 participations of other Federal Reserve Banks. 2/ After deducting $6,261+,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis