H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOaRD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication "Friday morning, May 16; not earlier) H.Ii.l May 15, I9U7 C0NOITI0N OF TIjE FEDERAL RESERVE BANKS During, the >eek ended May ll; member bank reserve balances increased ; $72000,000. Additions to member bank reserves arose from increases- of "$67,000,000 i in gold stock and $3,000,000 in Reserve Bank credit and decreases of $90,000,000 in Treasury deposits with Federal Reserve Banks and $63,000,000 in money in cir culation,, offset in part by increases of $9,000,000 in Treasury cash and , $150,000,000 in'nonmember deposits and/other Federal Reserve accounts. Excess reserves of member .banks on May llj. were estimated to be approximately $810,000,000. Loans, discounts and advances increased $38,000,000, while holdings of United States Government securities decreased $90,000,000. The reduction in holdings of-United. States; Government securities,reflects decreases of $136,000,000 in bills and $llj.,000,000 in bonds-and an increase of $61,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended May ll;, I9I4.7, were as follows: Increase or decrease since Hay Ik, May J May 1% 9 19U7 19U7 191+6' (.In millions of dollars)-' U, S; Government securities 21,762 - 90 - 898 Loans, discounts and advances 1U1 + 38 -' 6 Other Reserve Bank credit 329 + 5h - 116 Total Reserve Bank credit' 22,233 + 3 -1,019 Gold stock 20^878 + 67 + 633. Treasury currency U,559 - 1 + 25 Member bank reserve balances 15,9^9 +• 72 + 297 Money in circulation 28,13U - 63 + 18k Treasury cash -- 1,337 + 9 -. 928 : Treasury deposits with F. R. Banks' 556 - 98 + 52 Honmember deposits' and other F^R, accounts l,69li + 150 + 5k Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since May Ik, May 7, May 15, 19U? I9hl I9h6 A S S E TS Gold certificates 18,910,176 + 59.998' +1,561;, 116 Redemption fund for J?. R. notes 717,399 - 1,889 • '- 30,212 Total gold certificate reserves 19,627,575 + 58,109 +1,533.904 Other cash 259,U23 + 3,903 - 37,981 Discounts and advances 139,^90 + 38,036' 5.634 Industrial loans 1,670 + 584 + 258 Acceptances purchased — - 17.070 U. S. Govt, securities: * Bills : 1U,959,537 -135, &5k '+1,268,072 Certificates 5,711,718 ••+ 60,500 .- .615,378 Notes 351*800. — -l,386;Uoo Bonds 739,390 - 14,000 - 163.552 Total U. S. Government s e c u r : j ^ es 2X/762,W*5 " - 89,354 - 897,258 1 . Total loans and securities 21,903,605 "•' - 50,734 - 919,7014 Due from foreign'banks 102 --- 8 F» R, notes of other banks 92,351 + 1,501 - 31,838 Uncollected .items 2,7Ui,3i5 +552,306 + '266,731 Bank premises 32,078 — 943 Other assets 1I6,36O . + 1,708 8,996 ., TOTAL ASSETS hk,702,809 +566,793 + . 801,165 L I A B I L I T I ES t Federal Reserve notes 2U,013i393 - 57.458 + 62,967 Deposits; * • ' - Member bank - reserve account 15,9^8*953 + 71,980 + 296,52!; • U.S.Treasurer- general account 556,153 - 97,739 + 52,021; : Foreign :• ' 573,443 +119,077 - 112,343 • Other k92;90l + 29,746 + 68,632 Total deposits ' 17.571.U55 +123,o64 '• + 30i;,837 Deferred availability items 2,1*12,102 +1+98,337 + 365,749 Other liabilities including accrued o dividends <' - 13,813 . + 1,051 , + 674 TOTAL LIABILITIES l 44,010,763 +564.994 ! + 734,227 C A P I T AL A C C 0 U N T S Capital paid in 191,320 + Ul + 9,449 Surplus (Section 7)* "439.823 + 81,468 Surplus (Section 13b) 27,455 — +: 27 Other capital accounts 33,448 + 1.758 . - 214,006 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Uh,702,809 +566,793 801,165 Ratio of gold certificate reseryes to deposit and F, R. note liabilities combined 47*2/0 + .1% + 3*396 Contingent liability on bills purchased for foreign correspondents ; ?. 17.1 - .555 t 7,171 Commitments to make industrial loans ',080 - 84 + 5.235 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OP THE FEDERAL RESERVE. BANKS ON MAY 14, 1947 (In thous.ands of dollars) A S S E TS Total Bpston.. Hew York Phi la. Cleve. Rich. Atlanta Chicago St. Louis- *l3inn.'-.Kans".Cy. Dallas SanFran. Gold certificates 18,910,176 718,058 5,551,464 354,099 1147,1 16 9l;8,725 946,935 4237,194 558,052 381,45i '641,515- h50,270'.21195,501 Redemption fund for '" " F. R. notes 717,399. 54,754 116,525 59,629: 75,289 56,576 44,159 81,751; 45,709 21,283- - 55,W ; - 24,4l0. 104,117 Total gold ;certi ficate reserves. •- - 19,627,575 772,792 5,667,989 895,728 1222,405 1005,099 991,094 4518,948 603,761 402,734 674,727 474,680 2599,618 Other cash '-•'•' 259,425 21,216 58,162 17,152 23,904 15,596 21,656 26,078 13,100 5,701 •8,697 11,129 37,032 Discounts'and advances 159,490 16,724 45,671 15,068 16,358 16,619 2,878 6,380 5,o48 • 6,320 5,278 88.6 3,780 Industrial loans 1,670 15 1,655 U. S. Govt.' securities: Bills ., 14,959,557 967,075 5,856,271 1156,220 1506,858 981,061 794,012 1646,706 763,843 424,076 722,747 587,134 1575,554 Certificates 5,711,718 592,655 1,465,546 406,758 511,745 551,506 293,101 764,053 295,428 163,594 264,555 255,276 547,725 Notes 551,800 24,184 90,267 25,052 51,520 21,650 18,053 47,060 18,196 10,064 16,295 15,723 35,756 Bonds •; 759,590. 50,829 139,717 . 52,655 66,246 45,505 57,943 93,907 30,245 21,152 54,247 55,046 70,904 •• - Total U.S. Gover nnmmeenntt securities 21,762,445.1454,741 ,5,601,801 1620,663 2116,367 1399,720 1145,109 2556,726 1115,710 618,686 1057,844 891,179 2225,899 -- Total loans and securities 21,903,605' 1451,480 5,647,472 1635,536 2132,705 1416,^359 1145,987 2563,6p6 1120,758 625,006 1045,122 892,065 2229,679 Due from foreign banks - 1 2 : *.$ l/55 8- 9 5 ..,4- 34 - 4 5 4* 3 9 0 F.R.notes of other banks 92,351 2,973 17,174 4,715 4,986 9/293 lo,59V -12,262 • 7,707 2,686., 5,903. 5,94l 10,119 Uncollected items - 2,741,315 229,665 585,959 165,628 274,884 238,o4i 180,491';42"0,156'. 128,478 64,658- 135,560:" 109,559 210,236 Bank premises 32,078 1,278 8,386 3,132 3,815 2,658 1,511 5,052 1,995 1,22 2,497' 784 1,765 9 other assets 46,366' 3,167 11,183 2,918. 4,384 5,ooi 2,56a 6,141 2,765 1,527 2,061 1,988 4,86o - "• •'• , I . . . , • ,, 1 r i 1 • , -A - !—J *. . .. i , • •—; — TOTAL ASSETS 44,702,809 §482,577 11,996,358 2722,665 3667,090 2690,032 2353,902 7350^237-1878!,.568 1103,544'1870,571 1494,149 5095,516 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 BANKS ON MAY ll+, 191+7 (In thousands of dollars) L I A B I L I T I ES Total Bos.ton New York Phila, Cleve. Rich. Atlanta Chicago St. Louis Minn« Kans . Cy. Dallas SanFran. FFeeddeerraall RReesseerrvvee nnootteess 2i+,015,595 llil+5,802 5,l+8l+,l6i+ 1659,507 2066,51+8 1663,650 1572,505 1+1+81,157 1077,096 587,055 905,1+50 571,889 2718,970 DDeeppoossiittss:: MMeemmbbeerr bbaannkk--rreesseerrvvee aacccctt.. 15,91+8,955 705,81+5 5,027,61)1 788,881+ 1189,571+ 718,1+98 725,659 2287,095 597,1+92 1+01,255 773,756 751,021 1986,1+57 UU..SS..TTrreeaassuurreerr--ggeenneerraall aaccee t. 556,158 55,81+1+ -179,851 58,11+5 1+1,525 3k,9h9 27,096 52,971 51,130 2l+,555 26,21+7 27,757 36,308 FFoorreeiiggnn 575,1+1+5 55,955 1/192,087 1+5,1+11+ 52,11+2 27,1+75 22,988 76,251 19,625 11+,017 19,623 18,502 1+9,570 OOtthheerr 1+92,901 1,675 1+27,557 1,916 5,515 2,292 1,877 2,588 6,119 2,650 2,590 979 57,51+7 Total deposits 17,571,1+55 777,515 5,827,116 87i+,559 1288,551+ 783,212 775,620 21+18,705 65l+,561< 1+1+2,257 822,216 798,259 2109,1+82 Deferred availability items 2,1+12,102 ,2ll+,297 i+65,189 151,91+5 2l+6,86l 207,717 175,961 355,1+35 120,895 55,1+1+5 116,921 99,236 202,206 Other liabilities including accrued dividends 15,815 801 i+,005 . 909 1,561+ 750 596 2,055 675 l+l+o 555 518 1,139 TOTAL LIABILITIES i+l+,010,765 21+58,215 11,780,1+71+ 2666,520 5603,127 2655,309 232l+,682 7257,525 1853,026 1085,195 181+5,11+2 11+69,902 5051,81+7 Capital paid in 191,520 11,167 67,280 ll+,205 18,710 8,065 7,299 22,786 6,301 l+,200 6,371 7,085 17,851 Surplus (Section 7) 1+39,825 27,557 136,51+9 3l+,720 1+1,591+ 20,676 18,665 65,078 16,577 10,99'7 15,729 13,777 58,106 Surplus (Section 15b) 27,1+55 5,012 7,255 l+,l+89 1,007 5,525 762 1,1+29 521 1,075 1,137 1,507 2,li+o Other capital accounts 33,1+1+8 2,628 l+,802 2,751 2,852 2,657 2,1+96 5,618 2,ll+3 1,879 2,192 2,078 3,372 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+1+,702,809 21+82,577 11,996,558 2722,665 5667,090 2690,032 2355,902 7550,257 1878,568 1105,31+1+ 1870,571 ll+9l+,ll+9 5093,516 Contingent liability on bi lis purchased for foreign correspondent s 7,171 1+59 2/2,295 581 667 351 29I+ 975 251 179 251 237 631 Commitments to make industrial loans 7,080 — — — 1,103 1,618 89 —- 15 3,61+0 -.-.-. 1+50 167 • -. — — F. R. notes outstanding 2^,639,716 11+75,900 5,650,66!+ l68i+,383 2111,055 l7ll+,668 11+10,517 1+555,097 1110,186 601,1+69 927,51+1 595,795 2821+,1+65 Collateral for F. R. notes held by F. R, Agents; Gold certificates 12,103,000 1+55,000 5,1+70,000 500,000 61+5,000 690,000 590,000 2970,000 300,000 l8i+,000 280,000 169,000 1850,000 Eligible paper 95,211 15,393 56,515 11,585 — 15,500 — • l+,320 ' 5,800 l+,550 1,950 U. S. Govt, securities 15,588,555 1100,000 2,1+00,000 1200,000 1500,000 1055,000 850,000 1600,000 958,555 1+25,000 700,000 500,000 1300,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 to 31 to 6l to 91 days to 6 months 1 to 2 2 to 5 Over TToottaall 1155 ddaayyss 5500 ddaayyss 6600 ddaayyss 9900 ddaayyss 66 mmoonntthhss to 1 y<s ar ; yyeeaarrss yyeeaarrss 5 years Discounts and advances 115599**11++9900 110066,,116600 ii++,,221155 2266,,119988 22,,991177 ~~ Industrial loans ' 11,,667700 11,,111100 —— 55 2299 5555 53 110088 553300 U. S. Govt, securities 2211,,776622,,11++11++55 55,,665599,,886655 22,,668855,,777788 55,,551188,,661111++ ll++,,228855,,00llll 11,,550000,,557755 5,099, 312 32 00,,11++0000 ll!!jj88,,335500 566,01+0 l/ After deducting $381,256,000 participations of other Federal Reserve Banks* 2/ After deducting $LL,876,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis