H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• BOARD OF GOVERNORS OP THE FEDERAL RESERVE SYSTEM (Released for publication Friday morning, April 1J.J not earlier) H.lul April 3, 19U7 CONDITION OF THE FEDERAL RESERVE BANKS * During the .week ended April 2 member bank reserve balances decreased $118,000,000, Reductions in member bank reserves arose from a decrease of $728,000,000 in Reserve Bank credit and increases of $77,000,000 in money in cir culation and $38,000,000 in»nonmember deposits and other Federal Reserve accounts, offset iji part by decreases of $65^,000,000 in Treasury deposits with Federal Reserve Banks and $22,000,000 in treasury cash and an increase of $1|8,000,000 in gold stock. Excess reserves of member banks on April 2 were estimated to be approximately $570,000,000* Holdings.of loans, discounts, and advances increased $1^2,000,000 while holdings of United"States Government securities decreased $872,000,000* The de crease in holdings of United States Government securities reflects decreases of $1±02,000,000 in bills and $l|69,000,000 in certificates, Changes in member bank reserve balances and related items during the week and the year ended April 2, I9V7* were as follows 1 Increase or decrease .since April 2, March 26/ April 3, 19U7 19^7 • -19U6 (In millions of dollars) U S. Government securities 21,938 - 872 - 31 # Loans, discounts and advances 130 4- 11*2 - 258 Other Reserve Bank credit 390 ' 4* * 1 4- 1.12 Total Reserve Bank credit 22,758 «. 728 «. 178 Goid ^tock 20,U86 4- kd + 231 Treasury currency li,557 4- 1 4- J2 Member bank reserve balances 15.5UO - 118 + ihh Money in circulation 28,21|7 + 77 4- 335 Treasury cash 1,333 - 22 ~ 938 Treasury deposits with F # R« Banks 9U6 • "6% 4- UX3 Nonmember deposits and other F«R # accounts 1,735 4- 38 4- 172 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

-H.lt. 1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In .thousands of dollars)' Increase or decrease since April 2, March 26, April 5, I9kl I9hl 19^6 A S S E TS Gold certificates 18,U75,i*27 • 83,998 ' +1,151,572 Redemption fund for F« R. notes 77M79 - 15,892 1,798 Total gold certificate reserves 19,2k3,606 + 68,106 +1,1U9,57U Other cash 501,828 - 17,867. 26,123 Discounts and advances i£9,176 +1U2,560 - 257,U37 Industrial loans 1,085 + 53 h?9 Acceptances purchased 1,989 U. S. Govt, securities;* Bills lli,88U,U56 -U02,259 +1,668,138 Certificates 5,9Ue,lU8 -U69.200- - 1^38,278 Notes 551,800 -1,111,500 Bonds 753,390 - 11^9,552 Total U. S, Govornment . securities 21,958,06U -87l,U59 51,192 Total loans and securities 22,368,325 -728,8li6 - 291,097 Due from foreign banks „; 102 8 F, R. notes of other banks 97,297 - 13,1415 36,507 Uncollected items 2,1*09,610 - 5li,U9U + 1438,511; Bank premises 32,151 51* 1,008 Other assets 58,6)46 - 5,283* _j,QU6 TOTAL ASSETS Ui,ii97,565 -7149,850 +1 ,228,ii9U L I A B I L I T I ES Federal Reserve notes 21+, 185,509 + 1*2,14 57 + 180,360 Depositsj Member bank - reserve account 15,5liO,5l;8 -H7,U2l + 1UU.016 U.S Treasurer-general account 9U6,355 -653,760 + Ui3,3Ui f Foreign 520,589 + 62,110 18U.7U7 Other 572,539 - 28,710 + 26it,766 Total deposits •17,579,631 -737,781 + 637,376 Deferred availability items 2,019,968 - 55,560 + 325,0U7 Other liabilities including accrued dividends 15,106 101 +. 1,260 TOTAL LIABILITIES U5,798,01ii -750,985 +1 ,lhh,dh3 "C A P I T AL A C f a O U N TB Capital paid in 190,9^5 + 66 9,718 Surplus (Section 7) + 81,1468 1459,825 Surplus (Section 13b) + 27 27,U55 Other capital accounts • + 1,069 ' 6,762 111, 328 TOTAL LIABILITIES AHD]CAPITAL ACCOUNTS lil4,1497,565 - 7U9»850 +1 ,228,l49li Ratio of gold certificate reserves to deposit and F. R. note liabilities combined U6. l% .9% *• 1.9% Contingent liability on bills purchased for foreign correspondents 8,3lU 1439 + 8,311i Commitments to make industrial loans 7,129 1,081 + 5,658 •March 26 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H*U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 2, I947 (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 18,475,427 • 740,028 5,960,995 805,518 1123,596 977,381 929,157 3422,126 .568,156. 392,311; 634,751; 455,1892466,235 Redemption fund for " •' •" : ' ; •*, F. R. notes 774,179 55,328 ..118,919 59,427 76,031 58,592 44,906 130,640 45,960- ;2i,495 55,6c8 24,608- 104,755 Total gold certificate reserves 19,249,606 795,556 6,079,912 864,945 1199,627 1035,973 974,063 3552,766 614,116 413,719 668,342 479.797 2,570,990 other cash 301,828 26,509 63,54l 20,977 30,609 14,544 25,064 31,344 15,865 : 6,863 9,627 13,075 45,510 Discounts and advances 429,176 16,024 99,360 23,755 22,105 21,559 8,516 191,351 11,100 -8,150 9,710 4,258 12,788 Industrial loans 1,085 18 — 1,067 — — — — — •'; — U. 3. Govt, securities! B ms 14,884,456 959,025 5,415,579 1128,425 i486,852 994,9^8 823,451 2000,254 749,849 434,885 745,100 595,065 1569,067 Certificates 5,948,418 409,275 1,522,982 424,58-9 534,491 366,472 505,608 794,667 507,159 170,104 276,011 265,647 571,415 Notes 351,800 24,205 90,072 25,111 31,611 21,674 18,074 46,998 18,166 10,060 16,324 15,711 55>794 Bonds 755,390 51,336 192,892 55,776 67,695 46,415 58,706 100,648 36,903 21,545 54,953 35,645 72,571 Total U.S. Government securities 21,938,664 1424,341 5,221,525 1631,899 2122,629 1429,489 1185,839 2942,567 1114,077 636,594 1072,393 910,066 2246,645 Total loans and securities' 22,368,325 i44o,383 5,520,885 1656,721 2144,754. 1451,048 1194,555 5154,418 1125,177 644,744 1082,105. 914,524 2259,433 Due from foreign banks 6 l/ 35 8 9 5 4 14 4 5 4 3 9 lo2 FR.notes of other banks 97,297 3,151 14,849 4,370 6,499 14,687 13,719 lo,439 5,905 2,891 5,022 3,851 11,914 uncollected items 2,4o9,6lo -206,909 445,539 174,103 230,350 204,624 161,462 538,856 109,565 58,135 122,737 87,557 219.473 Bank premises 32,15! i,2 8,4o4 5,154* 3,&;22 - 2,665 1,515 5,038 1,999 1.232.- 2,503 787 1,769 83 other assets 58,646 2,5oi 9,624 2,290 5,903 2,235 • 2,236' 5,199 2,340 1,061 1,756 1,534 . 3,917 TOTAL ASSETS 44,497,565 '2476,098 11,943,087 2726,543 3619,555 2725,581 2372,418 7126,574 1372,971 1128,643 1892,094 1500,978 5H3,015 : 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.t+.l(c) STATEMENT OF CONDITION "OF THE FEDERAL RESERVE BANKS-ON APRIL 2, 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 2l+,185,509 ll+!+8,50l+ 5,556,378 1650,305 2076,063 1695,025 1339,921 1+1+88,175 1086,098 591,91+3 910,217 577,71+8 2735,151+ Deposits: Member bank-reserve acct. 15,51+0,51+8 695,016 l+,88l,055 785,050 1175,025 729,969 752,1+59 201+5,810 58l+,776 1+00,175 785,979 752,255 197l+,825 U*S.Treasurer-general acct. 91+6,555 65,875 275,855 50,895 6l,8l+l 65,597 1+9,511+ 125,1+55 1+7,765 55,71+6 1+6,555 1+7,557 58,168 Foreign 520,589 35,081 1/171,1+57 1+1,527 1+7,679 25,121 21,020 69,725 !7,9l+U 12,817 17,91+1+ 16,918 1+5,156 other 572,559 2,51+2 1+95, li+8 1^,090 10,201 5,1+51 5,072 3,86l 7,229 2,210 1,791 2,856 56,108 Total deposits 17,579,651 79l+,5ll+ 5,819,1+91 879,51+2 l29l+,7l+6 825,958 806,065 22l+i+,829 657,712 1+70,91+8 852,067 819,521+ 2111+.255 Deferred availability items 2,019,968 187,725 366,1+02 139,275 183,017 168,81+1 11+6,287 296,879 102,853 1+6,113 103,555 78,788 200,255 Other liabilities including accrued dividends . 15,106 739 3,298 811 1,226 652 565 2,060 ; 528 1,252 505 1+19 1,095 TOTAL LIABILITIES 1+3,798,011+21+31,282 11,725,569 2669,931 3555,052 2690,14.56 2^+2,836 7031,91+5 181+7,191 1110,236 1866,5!+!+ ll+76,l+79 5050,715 Capital paid in 190,91+5 11,167 67,227 Il+,110 18,652 8,059 7,271+ 22/753 6,295 1+.187 6,330 7,053 17,81+0 Surplus (Section 7) 1+39,825 27,557 136,51+9 3l+,720 1+1,591+ 20,676 18,665 65,078 16,577 10,997 15,729 15,777 58,106 Surplus (Section 13b) 27,1+55 5,012 7,255 l+,l+89 1,007 5,525 762 1,1+29 521 1,073 1,137 1,507 2,11+0 Other capital accounts 1+1,328 5,080 6,1+89 5,298 3,1+1+8 5,085 2,885 5,571 2,539 2,155": 2,551+ 2,562 l+,2li+ TOTAL LIABILITIES AND " : ' ~~~ CAPITAL ACCOUNTS 1+1+ ,1+97,5^5 21+76,098 11,91+3,087 2726,5^8 3619,555 2725,581 2372,1+18 7126,571+ 1372,971 1128,61+8 1892,091+ 1500,978 5113,015 Contingent liability on bills purchased for foreign correspondents 8,3ll+ 552 2_/2.,660 67I+ 775 1+07 5l+l 1,131 291 208 291 27I+ 732 Commitments to make industrial loans "" 7,129 . 1 _ , 1 _ 9 5 1 _ ,589 71. 15 5,61+C 1+50 173 F. R. notes outstanding 2l+,8l+3*563 ll+8l,055 5,695,298 1703^085 2121^792 1758,1+96 11+27,572 1+565,078 1122^221 603,503"- 928,871 601,859 2856,753 Collateral for F. R. notes held by F. R. Agents; Gold certificates 11,213,000 1+55,000 3,1+70,000 525,000 61+5,000 625,000 590,000 2170,000 300,000 i8l+,ooo 280,000 169,000 1800,000 Eligible paper 218,721+ 7,960 1+8,21+0 13,51+9 — 15,285 — 115,000 6,690 5,000 5,300 1,700 U. S. Govt, securities il+, 1+1+1,551+ 1100,000 2,1+00,000 1200,000 1500,000 1160,000. 900,000 25op,ooo 956,35!+ 1+25,000 700,000 500,000 1500,000 MATURITY DISTRIBUTION OF LOAFS AND SECURITIES' Within 16 to 31 to 6l to 91 days to 6 months 1 to 2 Over Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 1+29,176 1+06,166 9,761 951 12,298 — Industrial loans 1,085 1,015 - 1+ 1+ 5 15 5 7 52 U. S. Govt, securities 21,938,061+ 3,015,066 2,288,71+5 5,081+, 797 5,1+88,131+ 1,551,-159 ' 5-,!+6l,575 320,1+00 11+8,550 580,01+0 l/After deducting $51+3,625,000 participations of. other Federal Reserve . Banks. 2/ After deducting $5,65!+,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis