H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE' SYSTEM (Released for Publication Friday morning, June 13; not earlier) H.lul June 12, I9U7 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 11 member bank reserve balances increased $107,000,000. Additons to member bank reserves arose from decreaes of $158,000,000 in treasury deposits with Federal Reserve Banks, $67,000,000 in nonmember deposits and other Federal Reserve accounts, $3^,000,000 in Treasury cash and $3',000,000 in money in circulation and an increase of "$36,000,000 in gold stock, offset in part by a decrease of $l^k 000,000 in Reserve Bank credit. Excess 9 reserves of member banks on June 11 were estimated to be approximately $770,000,000. >' " ' • Holdings of loans,- discounts and advances-increased $2,000,000 while holdings of United States-'Government securities decreased $182,000,000. The'de crease in holdings of United States Government securities reflects a decrease of $283,000,000 in bills and an increase, of $101,000,000 in oertificates. Changes in member bank reserve balances and related items during the week and the year ended June 11, 19U7# were as follows: Increase or decrease since June 11, June 1;, June 12, 19U7 .19I+7 s 19U6 (In millions of dollars) U. S. Government securities 21,578 - 182 -1,692 Loans, discounts and advances 177 + 2 - 76 Other Reserve Bank credit 285 -' - iU - 88 Total Reserve Bank credit 22,0U0 - 19U -1,856 Gold stock : 21,026 +* 36 + 755 Treasury currency • U, 561 , + 2U Member bank reserve balances 16,023 + 107 + 119 Money in circulation 28,253 8 + 125 Treasury cash 1,332 - 3U - 9U8 Treasury deposits with £\R.: Banks - 158 - 365 Nonmember deposits' and other F.R.accounts 1,518 -• 67 8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,lul(a) STATEMENT OF CONDITION OF THE TOELVS FEDERAL RESERVE BANKS COMBINED (In- thousands of dollars) Increase or decrease since June 11, June U, June 12, 19^7 19^7 I9I46 AS'SEIS Gold certificates 19,069,678': + 1*5, OOQ +1,730,618 Redemption fund for F # - R # notes 7l2,l4l7 + 2 -: 39.619 Total gold certificate, reserves 19.782, .095 + 1*5*002 +1,690,999 Other cash ; 229,375 38J4 -: 142,130 Discounts and advances' 17^,790 + . 1,0714 .- 76,5^0 Industrial loans 1,762 + 63 +: 1475 Acceptances purchased 4 12,917 U, S. Govt, securitiesi Bills X379*368 -282,937 + • 5U,507 Certificates 6,102,266 +101,000 - 191,6014 Notes 369,300 •-1,378,900 Bonds 727,390 - '175,552 Total U S. Government # securities 21,578,321; -181,937 -1,691,5149 Total loans and securities 2l,75li.876 -180,800 -1,780,531 Due from foreign banks, 102 + 18 F. R. notes of other banks 100,3Ui +12,815 - 114,691 Uncollected items 2,36ii,lil3 -72,256 + ,6l,8l;5 Bank premises; 32,006 1,000 Other assets 51,211 + 1.757 5,690 TOTAL ASSETS UU,25U,Ui9 -193,866; - 91,180 L I A B I L I T I ES Federal Reserve notes 2lt,110,2U0 - 20,338 + 31,700 Depositsi Member bank - reserve account 16,027,782 +107,173 ' + 118,516 U-.S,Treasurer-general account 1495,300 -157,703 36U,805 Foreign Ii30,67i4 - 79,630 ioU,205 Other 1458,766 + 12,6914 2i4,5l6 T:otal deposits 17, k 12,522 -117,1*66 326,1148 Deferred availability items 2,019,826 - 58,239 137,7148 Other liabilities including accrued dividends 1^,793. ,+ 1,135 517 TOTAL LIABILITIES U3 ,-557,381 -1914,908 .156,383 C A P I T AL A C C O U N TS Capital paid in I9I.U99 + 39 + 9,321; Surplus (flection 7) 1439,823 81,U68 Surplus (Section 13b)' 27,ii-55 + 27 Other capital account is 38,261 + 1,003 25,616 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ul4,25U,l4i9 -193,866 91,180 Ratio of gold certificate reserves to deposjt; and F*E, note liabilities combined U7.# h*3% Contingent liability on bills purchased 6,072, 221; 6,072 for foreign correspondents 6,676' 1,3148 + 1,U78 Commitments to make industrial loans 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 JUNE 11, I9U7 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Eich« Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 19,069,678 71*2,817 5,533,Ui|0 80l*, 296 1121,717 930,767 922,357 1*587,821 &7,899 357,870 599*083 1*50,5Uo 21*71,071 Redemption fund for F. R. notes 712,1*17 5i*,l*68 115,1*13 59,656 jh,9h9 5b, 3 n 1+3,903 81,382 1^5,602 21,21+7 53,53h 2l*,5l*6 103,806 Total gold certificate reserves 19,782,095 797,285 5,61*8,853 863,952 1196,666 985,078 966,260^669,203 593,501 379,117 632,1*17 l*7l*,886 257l*,877 Other cash 229,575 21,1*15 U8,9l*0 15,028 19,570 13,339 17,977 28,171* H,865 5,171 9,023 9,9U9 28,921* Discounts and advances 17I*,790 20,065 35,903 11,650 36,191* 10,658 6,105 8,107 15,908 12,613 11,107 909 5,591 Industrial loans 1,762 12 — 1,750 U. S Govt, securities^ # Bills 11*,379,368 91*2,01*3 3,680,526 1111,971 1500,262 976,377 797,226 1373,521 727,232 1*32,91!* 729,153 573,901* I53l*,!*39 Certificates 6,102,266 1*20,057 1,560,522 1*56,128 51*9,180 376,17i* 313,713 811*,629 5ll*,8l6 I7l*,l*67 283,1*32 272,599 586,71*9 Notes 369,300 25,1*21 9I1,1*1*0 26,391* 33,236 22,766 18,985 1*9,300 19,052 10,559 17,153 l6,u85 35,509 Bonds ^727,390 ,50,071 186,011* 51,986- 65,1*62 l*U,8l*o 37,39^ 97,101* 57,526 20,797 55,785 32,1*70 69,9a Total U.S.Government securities 2l,57S,32li 11*37,592 5,521,502 1626,1*79 2li*8,ll*o 11*20,157 1167,318 253^,551* 1098,626 658,737 1063,523, 89^,258 2226,638 Total loans and securities 21,75k, 876 lk57,669 5,557,205 1639,859 2l8k,33k ik30,8l5 H73,k23 23^2,661 ink, 534 651,350 107k,630 896,167 2232,229 Due from foreign banks 102 6 1/ 33 8 9 5 h ik h 3 k 3 9 F.R.notes of other banks loo,3kl 3,837 T3,no 5,572 5,737 10,709 10,895 12,129 13,787 2,630 5,3^1 3,869 12,725 Uncollected items 3ank premises 2,3oU,Ui3 183,852 1;28,2U2 155,775 2ok,673 208,i|l9 151,15k 371,9^7 115,185 62,170 llk,3k6 98,975 209,675 32,006 1,273 3,120 3,803 2,651 1,508 3,037 1,991 1,227 2,k9l 781 1,757 Other assets 51,211 3,602 8,367 3,101 k,790 3,196 2,801 7,073 3,026 i,5k5 2,202 2,130 5,172 12,573 TOTAL ASSETS 14i,25k,i|l9 2^68,939 11,717,323 2686,kl5 3619,582 265k,212 232k,022 7k3k,238 1853,893 1103,213 I8k0,k5k lk86,76o 5065,368 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.lul(c) STATEMENT. OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 11, 191+7 (in thousands of dollars) v 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 San Fran. Federal Reserve notes 2l+,llo,2l+0 11+1+5,866 5,51+8,699 1656,55/+ 2075,925 1655,772 1569,11+5 i+509,085 1079,605 589,278 906,679 578,580 2717,276 Deposits: Member bank-reserve acct. 16,027,782 71+3,386 l+,956,365 788,002 1193,261 717,012 726,816 2387,102 599,000 1+09,1+27 766,666 755,323 1985,1+22 U.S.Treasurer-general acct. 1+95,300' 5l+,350 ' 90,51+7 .51,1+72 57,1+50 1+1,007 52,558 73,1+1+7 2l+,687 21,359 26,267 25,501+ 38,572 Foreign I+50,67I+ 26,801 l/li+6,585 33,831 38,81+3 20,1+66 17,125 56,803 l!+,6l8 10,1+1+2 11+.618 15,783 36,761. other 1+58,766 1,950 595,01+2 2,761 8,008 2,129 5,808 2,615 6,057 2,1+09 1,002 897 5l+,128 Total deposits 17,1+12,522 806,967 5,586,357 856,066 1297,562 780,611+ 780,107 2519,967 6Ld+,5l+2 1+1+5,617 808,555 793,507 209l+,883 Deferred availability items 2,019,826 170,539 '36l,Q2l+ 156,1+77 182,21+9 182,008 lld+,61+0 509,568 105,555 51,171 98,951+ 89,677 189,981+ Other liabilities including accrued dividends ll+,795 ..- 81+6 1+,196 965. 1,1+62 765 657 2,098 601 852' 597 5l+3 1,211 TOTAL LIABILITIES 1+3,557,531 2i+2i+,218 11,500,256 2629,81+2 5555,198 2619,159 2291+.51+7 731+0,716 1828,085 ~1081+,918 18ll+,785 li+62,507 5005,55!+ Capital paid in 191,1+99 11,171 67,551 ll+,209 18,715 8,072 7,509 22,808 6,517 i+,210 6,581+ 7,095 17,862 Surplus (Section7) 1+59,823 27,557 156^51+9 3l+,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,ll+0 Other capital accounts 33,26l 2,98l 5,9.ll+ 3,155 5,270 2,980 2,?1+1 U,207 2,595 2,015 2,1)21 2,2?6 5,906 TOTAL LIABILITIES AND CAPITAL ACCOUNTS l+l+,25l+,l+l9 21+68,959 11,717,523 2686,1+15 3619,582 2654,212 232l+,022 7l+3l+,238 1855,895 1105,215 181+0,1+51+ 11+36,760 5065,568 Contingent liability on bills purchased for foreign correspondents 6,072 589 2/l,9i+5 1+92 565 290 2l+9 826 212 152 212 200 55I+ Commitments to make industrial loans 6,376 . 397 1,521+ 32 27 53 1+00 — 5,750 >-- 163 F. a. notes outstanding 2l+,751,6l7 11+79,526 5,702,01+2 1679,172 2121,501 1707,902 11+09,213 l+58l+,22l+ 1103,970 6ol+,329 928,31+3 611,179 23ll+,6ll Collateral for F. R. notes held by F. R. Agents: Gold certificates " 12,135,000 1+55,000 5,1+70,000 500,000 61+5,000 690,000 590,000 5000,000 300,000 l8l+',000 280,000 169,000 1850,000 Eligible paper 106,397 -13,1+97 28,063 9,61+5 — 9,1+57 — — 15,050 ' 12,000 10,250 — 3,1+35 U. S. Govt, securities 13,599,357 1100,000 2,1+00,000 1200,000 1500,000 1055,000 850,000 1600,000 969,357 1+25,000 700,000 500,000 1300,000 MATURITY DISTRIBUTION OF LOAftS AND SECURITIES Within 16 to 31 to 6l 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 174,790 ll+9,l+37 IQ,lhU l+,054 2,505 Industrial loans 1,762 l,20l+ 3 35 29 ..- 53 108 330 U. S. Govt, securities 21,578,321+ 3,1+56,1+61+ 5,028,31+3 h,336,989 5,332,101 915,103 '5,1+53,531+ 320,1+00 11+8,550 55l+,Ol+0 l/ After deducting $23l+,0l6,000 participations of other Federal Reserve Banks. 2/ Aft or deducting $J+,129,OOOparticipations of other Federal Reserve Banks . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis