H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released'for Publication Friday morning:, March '21; not earlier)" H.ii.l March 20, l^kl CONDITION OF THE FEDERAL RESERVE ftiNKS ^ \During the week* ended. iSarcii I9'memb>er bank" reserve*balances" increased $96;000,000;- Additions to member banjc reserves arose from decreases of $716,000,000 in Treasury deposits with Federal Reserve Banks, $88,000,000 in money in circulation and $15,000/000 in nonmember deposits}and other Federal Reserve accounts and an in crease of $10,000,000 in gold stock,-Offset in part by a decrease of $733,000,000 in Reserve Bank credit. Excess reserves of member banks on March 19 were estimated to be approximately $7-30,000,000. '• . Holdings'of loans,* discounts and advances decreased $3,000,000 and* of United States Government securities $836,000,000/' The decrease in holdings of United "States ^Government securities reflects decreases of $^^9,000,000 in bills, $285,000,000 in certificates and $93,000,000 in notes. Changes in member bank reserve balances and related, items-during the week and the year ended "March 19; 19U7, were as follows t Increase or decrease • - since March 19, March 12, March 20, 19U7 19U7 * 9^ (In millions of dollars) U,,S. Government securities 22,Ull - 836, + 181 Loans, discounts and advances •• 235 3. - 250 Other Reserve Bank credit U01 '+ 107' - " 5- Total Reserve Bank credit 23,oU7 - 733; - 2+36 Gold stock ; 20.U13 +. 10 + 180 Treasury currency • [ ," U,557 + QO iviember bank reserve balances 15.9U3 + .96 Llonoy in circulation 28,21*2 - -• ."'88 • + 353 Treasury-cash 1,335 - 932 Treasury*deposits with F*R Banks -. 716 #: 713 - 61 Nonmember deposits and other F t R,acepunts l,78lt - 15 + lh Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ff.lu^(a) STATEMENT OP CONDITION OF'THE.-TWELVE' FEDERAL* RESERVE BANKS COMBINED (In thousands of dollars) Increase 1o r decrease since March I9, March 12, March 20, 19^7 I9U7 19U6 A S S E TS Gold certificates 18,37l,u27 + 1,U99 +1,082,367 Redemption fund for F. R. notes 792,518 + 908 + 5,275 Total gold certificate reserves 19,165,7145 + 2,1407 +1,087,61*2 Other cash , 55IU56 + 5,1*56. - . 2,612 Discounts and advances ' 255,869 - 5,365 - 2149,691 Industrial loans i,ol*o 1 I489 U.S. Govt, securitiess Bills lliitt,, 881199,,55114488 -1*59,209 +1,188,6148 Certificates 66,,11448866,,661188 -2814,500 - 217,296 Notes 555511,,880000 '- 92,500 -1,005 ,.000 Bonds -- 775555,,559900 - 11*9,552 Total U. S. Government securities 22,1411,156 -856,209 - 181,200 Total loans and securities 22,6)46,065 -859,575 - 1*31,380 Due from foreign banks 102 -.- 8 F. R, notes of other banks 1114,505 + 6,772 - 29,596 Uncollected items 2,879,60I* « +1469,0614 + .1*91. ull* Bank -premises 52,252 992 Other assets 140,627 - 8,326 9,171* TOTAL ASSETS 145,211,556 -361*, 102 _ +1,105,1*9U L I A B I L I T I ES Federal Reserve notes 214,219,725 - 83,671 +. 207,5914" Deposits: Member bank - reserve aqcount l5,9lA861i + 96,00'i : + '1459,258 U.S;Treasurer - general account 712,555 -716,7U8 - 61,579 Foreign 515,552 - 9,963 - 255,666 Other 6514,981 - 15,215 + 155,527 Total deposits 17,805,752 -6113,923 + 3l5,7Uo Deferred availability items 2,1*79.176 +362,991 + U96,72l4 Other liabilities including accrued dividends 11,687 658 + 112 TOTAL LIABILITIES l*l*,5ii*,5liO -565,261 +1,019,970 C A P I T AL A C C O U N TS Capital paid in 190,901 + 39 + 9,931 Surplus (Section 7) • 139,825 . + 81,1*68 Surplus (Section 15b) 27,1^55 + 27 Other capital accounts 38,817 + 1,120 5,902 TOTAL LIABILITIES AND. CAPITAL ACCOUNTS 145,211,536 -5614,102 +1,105,1*91* Ratio of gold certificate.reserves to deposit and F. R. note ."' liabilities combined 1*5. #• . 870 + 2.i Contingent liability on bills purchased for foreign correspondents 9,007 205 + 9,007 Commitments to make industrial loans 8,205 1 '+ 6,251* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.i(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH I9, I9I4.7 (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 18,371,1+27 721+,l49- 6,21+3,716 83l+,7l+5 1212,071 1019,1+22 950,270 2805,61+1+ 577,602 366,565 656,992 I+53,387 2526,86U Redemption fund for F. R. notes 792,318 55,516 119,718 59,751+ 76,268 60,180 1+5,121 ll+l+,950 46,056 21,1+56 35,681 2l+,67Q 105,008 Total gold certificate reserves 19,163,71+5 779,665 6,565,1+54 894,499 1288,559 1079,602 995,3912950,574 625,658 588,001 690,675 1+78,057 2651,872 Other cash 53l+,!+56 29,805 68,638 2l|,703 55,298 15,986 25,81+1+ 1+2,200 15,621 7,700 10,118 13,202 1+7,31+1 Discounts and advances 233,869 2o,o85 61,596 13,956 2o,597 16,608 6,2ol+ 30,2oo 17,765 15,595 9>865 1+.721+ 16,698 Industrial loans ^ 1 — 1,019 1)0 0 2 U. S. Govt, securitiesj I11]8 . 14,819,51+8 92l+,5l+l 5,044,621+ 1075,961 1569,510 901,927 761,680 2913,111+ 68.8,11+0 liHi,i2)| 693,088 551,057 11+83,582 Certificates 6,1+86,618 1+35,712 1.669,682 >!+??,5l+6 571,050 598,956 535,567 831,158 350,713 189,696 3:8,875 290,551 627,551+ lote/ 351,300 23,631 90,555 25,889 30,970 21,636 18,199 45,077 19,021 10,288 16,752 15,758 31+.021+ 755,590 50,606 195,926 55,1+1+2 66,322 l;6,35l+ 58,971+ 96,555 1+0,751+ 22,032 35,871+ 53,71+7 72.861+ Total U. S. Government ::" securities 22,1+11,156 1434,490 l+,998,787 1632,658 2057,852 1568,855 1154,1+20 5885,881+ 1098,608 656,11+0 105l+,587 891,115 2217,821+ Total loans and securities 22,61i6,.o65 11+54,596 5,060,585 161+7,595 2058,429 1585,41+1 1166,621+ 5916,081+ 1116,571 651,755 1064,1+50 895,857 223l+,522 Due from foreign banks . 6 l / 35 8 .9 - 5 - • U H+ h 5 1+ 5 9 lo2 F.R.notes of other banks 1^,505 2,888 15,805 6,268 5,61+3 19,996 ll+,650 12,229 7,166' 1+,1+12 6,01+0 i+,5l+l 15,069 uncollected items 2,'879,'6qi+ 256,686 525,505 185,226 261,760 272,055 209,2o6 1+70,126 150,50I+ 75,257 li+0,666 111,859 262,758 Bank premises 32,252 1,287 8,1+22 5,11+6 5,851 2,672 1,519 5,0i+5 2,005 1,235 2,509 789 1,776 Other assets 1+0,627 2,65l+ 9,882 2,1+50 3,891 2,353 2,527 5,646 2,1+51; l,2pl _ 1,922 1,81+1 4,026 TOTAL ASSETS l+5,2ll,.536 2507,567 12,050,098 2765,895 5655,200 2778,108 21+09,565 7599,916 1897,761 1129,51+1+ 1916,582 1505,929 5197,573 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 CONDITIOF OF THE'FEDERAL RESERVE BANKS OH MARCH 19-* 191+7 (in thousands of dollars) _L_I__A__B_ I L I T I ES Total Boston New York Phila* CI eve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 24*219,725 114*6.667. 5,530,855 1653^90 2079,1+88 170l+,8l+l+ 1394,531 1+1+92,898 1090/121 ,591,178 910,1+1+8 579,917 271+5,088 Deposits* ,.,. . ....' ... ,,.;'.'+ . "~ • "" "" •••• Member bank-reserve acct. 15,9l+2,86i|~ 713,81^ k,952-,5&t 80^,555 1165,058 72l+,138 757,51+9 2281*801+ .596,262 1+0?,566 793,230 755,731 2010,710 U.S.Treasurer-general acct. 712,555 53.01+0 189,801 1+1,028 61+,7l+5 1+7,319 28,758 93,ll+7 '39,51+7 ' S1+V936 35,878 25,968 58,538 Foreign 513,352 32,209 l/l75,6&2 1+0,1+21+ 1+6,1+13 2k Ash 20,1+61 67,872 17il+67 12,1+76 17,1+67 16,1+69 1+5,958 other 63i+,98l . 2,991+ 550,1+91+ l+,205 7,219 3,637 1,735 5,672. 6^550 1,938 2,367 858 1+7,312 Total deposits 17*805,752 802,087 5,866^1+1+ 890,212 1283,1+35 799,51+8 788,503 21+1+8,1+95 659,626 1+56,716 8l+8,9i+2 799,076 2160,568 Deferred availability items 2,1+79,176 213,1+^9 432,71+2 1;62>772 226*866 238,ll+8 196,575 .362,ll+l 121,909 . 62,832: 150,976 102,01+8 228,628 Other liabilities including <•' " ', accrued dividends 11.687 677 3,023 -733 1,152 570 508 2,199 1+55 1+38 1+51 1+87 991+ TOTAL LIABILITIES l+i+,511+,31+0 21+62,920.11,833,161+ 2707,1+07 5590,91+1 271+5,110 2380,117 7505,733 1872,111 1111,212+1-390,817 11+21,528 5135,273 Capital paid .in .... ' 190,901 "11,160 67,219 H+,165 18,61+1 3,051 7,27i+ 22,751 6,288 1+,186 '" 6,308 7,037 17,821 Surplus (Section 7} 1+39,825 27,557' 156,51+9 5l+,720 1+1,591+ 20,676 10,665 65,078 16,577 10,997 15,729 15,777 58,106 Surplus (Section 15b) 27,1+55 5,012 7,253 4,1+89 1,007 3,325 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other capital accounts • 38,817 2,918 5,915 3,112 5,217 2,9l+6 2,71+9 l+,925 2,261+ 2,071+ 2,591 2,230 l+,028 TOTAL LIABILITIES AND COITAL ACCOUNTS- 1+5,211,556 2507,567 12,050,098 2765,895 5655,200 2778,108 21+09,565 7399,916 1897,761 1129,51+1+ 1916,582 1505,929 5197,575 Contingent liability on bills purchased for foreign correspondents 9,007 '577 2/2,882 750 858 1+1+1 569 1,225 515 225 515 297 795 Commitments to make industrial •• loans 3,205 1,21+2 1,689 71 — 380 1+,200 1+50 173 F. R. notes outstanding 2l+,9l6,305 l!+85,722 5,707,907 1701,130 2131,711+ 17l+6,32i+ 11+55,722 1+565,270 H2l+,957 604,522 929,981 601,854 2335,1+1+2 Collateral for F... R. notes held by F. R. Agents; Gold certificates 10,785,000 1+05,000 5,1+70,000 525,000 61+5,OOQ 625,000 590,0001690,000 500,000 181+,000 • 230,000 169,0001900,000 Eligible paper 80,280 11,650 19,1+20 5,260 — 10,150 — — 13,150 12,500 5,250 — 5,100 U. S. Govt, securities 15,320,31+91100,000 2,1+00,000 1200,000 1500,000 1160,000 900,000 2900,000 935,31+9 425,000: 700,000 500,0001600,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 235,869 95,666 153,615 5, .750 Industrial loans 1,01+0 970 1+ 5 15 7 7 32 U. 3. Govt, securities 22,1+11,156 1+.171+.521 2,214,832 11.603,705 l1++,,3399I1,,35l1++66 2,073,129 5,399,983 320,1+00 11+3,550 >80 ,01+0 l/ ii'ter deducting $359,360,000 participations of other Feuer?.l Reserve Banks. 2/ After deducting $0,125,000 participations of other rederal Rssarvo Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis