H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOixRD OP GOVERNORS OF5 THE FiJL/sRAL R JS-;RVE SYSTEM (Released for Publication Friday morning, Inarch 28; not earlier) lUh.l March £?, I9I4.7 CONDITION 0? THE FEDERAL K3SEKVK BANKS During the. week ,ended March 26 member bank reserve balances decreased $2H5i0'G0,000* Reductions in member b*~nk reserves arose from increases of £887,000,000 in treasury deposits with Federal Reserve Banks and $20,000,000 in Treasury cash, offset, in part by increases of "'1439*000,000 in'Reserve Bank credit and $25,000,000 in gold stock and decreases of $72,0)0,000 in money in circulation and $37*000,000 in norimeiriber cfeposits . and other Federal Reserve accounts. Excess reserves of raember banks oh March 26 were estimated to be approximately $630,000,000, Holdings of loans, discounts and advances increased $53*000,000 and of •United States; Government securities. $399,000,000. The increase in holdings of United1 States Government securities reflects an increase of $1^67,000,000 in bills and a decrease of b6^,000 000 in certificates. • Changes in member ;bank reserve balances and,related items during the week and the yea*r 'ended Rarch 26/ ¥)h7* v/ere as follows; \ Increase.- or decrease * since •inarch 26, Inarch 19, ' March 27, 19U7 19U7' 19U6 (in millions of dollars) U. S. Government securities 22,810 + 399 - 161; Loans, discounts and advances 238 + 53 - 396 Other Reserve Bank credit * - : 339 - .i£ + 55 Total Reserve Bank credit 23/1S6 + JU39 _ !'77 Gold stock 20,1*38 + 25 + 181 Treasury,currency a,556 . l + •78 member bank reserve balances 15, 653 - 235 263 Money in circulation 23,170 - 72 328 Treasury cash 1,555 + 20 9U3 Treasury deposits with F. R. Banks l, 600 + 337 203 Nonmemher deposits and other F % R. accounts 1,697 - 87 69 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

% Ii* 1(a) STATEMENT OF CONDITION 0/. THE TWELVE FEDERAL RESERVE 'BAtfKS COMBINED (In thousands of dollars) Increase or decrease since I&rch 26, Karen 19, Karen 27, 19^7 19^7 19^6 A S S E TS Gold certificates' 18,591,^29 • 20,002 +1,102,569 Redemption fund for F R, notes 790*071 - 2,21*7 + ii,Q95 # Total gold certificate reserves 19,181,500 + 17,755 +1,106,1*62 Other cash 519,695 - ll*,76l - 20,855 Discounts and? advances. 286,616 + 52,71*7 - 396,1*9!* Industrial loans 1,052 8 1*26 Acceptances purchased 2,016 U, S. Govt* securitiest Bills 15,286,715 +1*67,567 +1,555,61*9 Certificates 6, it 17,618 - 69,000 - 1*85,596 Notes -1,085,500 351,800 Bonds - 1149,552 753,590 Total U» S. Government securities Z 22,809,525 +29.8,567 161*, 799 Total loans and securities 23,097,171 +1*51,106 - 565,755 '« •» • "Him 'MII « •—•••• ..Hi. wMI.II ~ .1^1.., • ,.i. Due from foreign banks 102 -_- - 8 F # R t notes of oth.er banks : 110,712 - 3,795 ' 55,1*12 Uncollected items 2,U6U,ioU -1*15,500 + 3U2.98? Bank premises 35,067 + 835 117 Other assets -1*1,06!* + 1*57 10,655 TOTAL ASSETS 1*5,21*7,1*15> + 36,-079 818,709 *• L I A B I L I T, I E S Federal Reserve notes 21*. 11*2,852' -76,875 • 176,558 Depositsi Member bank - reserve account 15,657,769: -285,095 4- 262,501* US;Treasurer-general account 1,15oo,115 +887,560 205,112 f Foreign ]t 1*58,279 - 55,075 315,570 Other 601.21*9 • - 55,752 11*7,366 Total deposits 18,517,1*12 +515,660 + 299,U12 Deferred availability items 2,075,528 -1*03,618 * 256,653 Other liabilities including accrued dividends 15.2Q7 + .1,520 + 1,299 TOTAL LIABILITIES Wi, 51*8,999 + 3U,659 + 735,902 C A P I T AL A C C O U N TS Capital paid in ; 190,879 22 9,801 Surplus (Section*'7) 1*39,823 81,1*63 Surplus (Section ljb) 27.U55 27 Other capital accounts 1*0.259, "+ 1,1*1*2 6,1*89 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 1*5,21*7,1*15 + 36,079 + 818,709 Ratio of gold certificate reserves to deposit and F. R; note liabilities qombined i*5.2a/o -'' .1$ • 2,155 Contingent liability on bills purchased for foreign correspondents * 8,753 251* + 8,755 Commitments to make industrial loans 8,210 5 + 6,090 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hj^llb) STATEMENT OF CONDITION OP' THE FEDERAL RESERVE BANKS 'ON MARCH 26, 1947' "(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 18,391.1*29 70^,602 5,738,343 847,887 1242,122 1095,391 995,578 3151,279 584,975 '373,231 656,301 1+61,671 2540,049 Redemption fund for F.R. notes 790,071 55,4l4 119,281 59,572 76,liil 59.324,-, 45,015 -144,767 1*5,997 •21,420 53,645 24,642. 101,853 Total gold certificate reserves 19,181,500 760,016 5,857,621; 907,1;59 1318,263 1154,715,'. lb4o, 593 3296,046 630,972 39!*, 651 689,9)16 486,313 2644,902 Other cash ;" 319,695 28,213 6I1,885 23,806 29,456 16,336 26,715 37,585 15,311* 7,843 10,280 12,955 1;6,307 Discounts';arid advances 286,616 23,909 82,558 15,511 32,366 23,539 7,211 23,006 24,275 ,21;,225 8,535 4,093 17,388 Industrial 'loans 1,032 18 1,011; U. S.Govt. securities: Bills 15,286,715 951,918 3,527,890 1099,625 1365,506 903,705 757,1*1*0 2784,067 700,361 Ull*,567 713,580 569,815 1,1*98,21;! Certificates 6,417,618 1*30,872 1,652,909 472,120 564,402 39l*,575 331,929 822,282 31x7,282 187,731* 305,526 287,533 620,1; 51* Notes 351,800 23,620 90,609 25,881 30,959 21,630 18,195 1*5,076 19,037 10,291 16,71*8 15,762 3l*,0l2 Bonds 753,390 50,582 I9li,0l;l 55,424 66,257 46,321 38,966 96,531 1*0,769 22,039 35,367 33,755 72,838 Total U.S.. Government securities 22,809,523 11*56,992 5,1*65,1*49 1653,050 2027,101; 1366,231 1146,530 371*7,956 1107,449 634,631 1071,721 906,865 2225,545 Total loans and securities 23,097,171 11*80,919 5,51*8,007 1669,575 2059,1*70 1389,770 1153,71*1 3770,962 1131,721; 658,856 1080,256 910,958 2242,933 Due from foreign banks 102 6 l/33 8 9 5 1* 11* 1* 3 4 3 9 F.R.notes of other banks 110,712 2,766 lo",023 5,671- 6,263 • 17*096 12,306 12,553 7,1*69 4,179 • .5,203 4,827 16,356 Uncollected items 2,464,104 192,955 500,237 148,103 213,092 219,540 172,055 395,806 118,691 61,288 126,831 100,'144 215,362 Bank premises 33.067 1,267 •8,422 3,134 3-, 831 • 2,665 5,380 3,044 2„oo2 1,235 ' 2,509 789 1,769 Other assets 111, 061; 2,586 10,457 2,515 4,022 . 2,494 5,872 2,470 1,254 • 1,982 1,822 4,075 TOTAL ASSETS 45,247,415 2468,748 12,005,688 2760,271 3634,4o6 2802,621 2409,309 7521,882 1908,646 1129,309 1917,011 1517,311 5171,713 * 1/ After deducting $69,000 participations cf other Federal Reserve Banks # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

s*44(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BASKS ON MARCH 26, 1947 (In thousands of dollars) L I A B I L I T I ES • Totrl Bo s-ton New York Phila, Clove,. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy.- Dallas SanFran. Federal Reserve notes 24,142,852 1445,255 5,519,106 1649,904 2073,756 1696,016 1387,551 4479,074 1085,048 590,170 907,909 576,708 2734,577 Deposits: lumber bank-reserve a cct. 15,657,769 685,185 4,855,511 780,158 1146,521 690,581 720,924 2282,692 596,972 400,104 775,425 741,921 1983,975 U.S.Treasurer-general acct.1,600,115 82,700 562,051 101,517 138,444 159,104 82,978 289,367 67,941 53.,579 79,479 67,323 115,652 Foreign 458,279 -28,606 "1/156,396 35,865 41,176 21,695 18,153 60,215 15,496 11,069 15,496 14,611 39,005 Other 601,21+9 3,561 525,453 2,812 7,594 4,957 2,511 5,975 6,695 2,550. 1,561 760 56,820 Total deposits 18.517,412 798,052 5,899,891 920,350 1333,735 876,157 824,566 2658,249 687,104 467,302 871,961 824,615 2175,450 Deferred availability items 2,075,528 179,893 365,683 132,705 161,272 194,737 167,310 307,797 112,231 53,040 110,991 91,475 198,-394 Other liabilities including accrued dividends 15.207 751 3,783 790 1,275 650 568 2,544 543 429 500 554 1,040 TOTAL LIABILITIES 44,548,999 2425,909 11,788,463 2705,749 5570,058 2767,540 2579,795 7427,464 1882,926 1110,941 1891,361 1493,352 5109,461 Capital paid in 190,879 11,166 67,228 14,105 18,644 8,054 7,274 22,752 6,288 4,186 6,309 7,052 17,821 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 15"b) 27,455 3,012 7,253 4,489 1,007 3,325 762 1,429 521 1,073* 1,137 1,507 2,140 Other capital accounts 4o,259 3,104 6,195 3,208 5,323 5,026 2,815 5,159 2,334 2,112 2,475 2,325 4,185 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,247,415 2468,748 12,005,688 2760,2?1 5654,406 2802,621 2409,509 7521,882 1908,646 1129,309 1917,011 1517,811 5171,713 Contingent liability on bills purchas id for foreign correspondents 8,753 560 2/2,801 .709 314 429 359 1,191 306 219 306 289 770 Commitments.to make industrial loans 8,210 1,247 1,639 71 — • 330 .4,200. . . — - 450 — 173 F. R. notes outstanding 24,855,650 1478,601 5,701,385 l690.,790 2125,001 1737,212 1427,193 4557,158 1.122,415 603,722 926,758 601,144 2864,251 Collateral for F. R. notes '• held by F. R. Agents: Gold certificates 10,783,000 445555,,000000 55,,447700.. ,,000000 552255,,000000 664455,,000000 662255 ,,000000 559900,, ,,ooccoo 11669900,,000000 500,000 184,000 280,000 169,000 1850,000 Eligible paper 124,805 1166,,116655 .. 3333.. ,,003388 55,,771100 —— 1177.. ,,661100 20,040 21,200 4,300 6,740 U. S. Govt, securities 15,055,625 ] aaddoo,,000000 22,,440000.. ,,000000 11220000,,000000 11550000,,000000 11116600,, ,,000000 990000,, ,,000000 22990000,,000000"" 948,625 425,000 700-,000 500,000 1500,000 MMAATTUURRIITTYY DDIISSTTRRIIBBUUTTIIOONN OOFF LLOOAANNSS AANNDD SSEECCUURRIITTIIEESS ??//iitthhiinn 1166 ttoo 5511 ttoo 6611 ttoo 9911 ddaayyss ttoo 6 months 1 to 2 2 to 5 Over Total •. 1155 ddaayyss 5500 ddaayyss 6600 ddaayyss 9900 ddaayyss 66 mmoonntthhss to 1 year years years 5 years Discounts an<d advances 28-6-,6l6 115500,,226677'' 111188,,550066 66,,2211++00 1111,,660055 Industrial loans .1,052 996622 •••• 44 44 55 1155 3 7 32 U. S. Govt, securities 22,809,525 --.. 44,,009988,,661155 22,,440044,,115511 44,,778855,,224499 ll ,,,,006600,,662266 22,,005555,,662299 3,358,483 320,400 148,350 580,040 l/ After deducting $301,074,000 participations of other Federal Reserve Banks, 2/ After deducting $5,952,000 participations of other Federal Reserve Banks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis