H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BQA.RD 01'' GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, July )j$ not earlier) KJi.l July 3,. 19U7 QOKDITIOH "OB T.HE FEDERAL RESERVE-.BANKS During the week ended July 2, member bank reserve balances decreased $93,000,000*' ] Reductions in member bank jreserves aroser.from increases of |226,000,000 in money in circulation, 1-57,000,000 in nonmember 'deposits and other Federal Reserve accounts and $l6,0Q0,000 in Treasury deposits with Federal Reserve Banks, offset in part by.increases of .$1X0,000,000 in gold 'stock, f88,000,000 in Reserve Bank credit and $6,000,000 in Treasury; currency and a de crease of ^U,000,000 in Treasury cash. Excess reserves' of member banks on July 2 were estimated to' be approximately |550;000,GOO#< Holdings of loans, discounts and advances decreased $22,-000,000 while holdings of United States Government securities increased $1*7,000,000. Th<? in7 crease in holdings of United States^Government securities reflects an.increase of $301,000,000 in certificates and a^decrease of $25U,OOQ,000 fn'bills• Changes in member bank reserve balances and related items during the week and the year ended July 2, lOU7»«wero as follows: Increase or decrease since July 2, Juna 25, July 3, 19U7 19U7. .19U6; (in millions of dollars) TJ* S« Government securities 21,629 + hi - 1,37U Loans, discounts, and .advances, 112 - 22 128 Other Reserve Bank credit UoU + 63 - . U8 1 Total Reserve Bank credit 22.1.U5 + 88 - i,5U9 Gold stock 21,28!+ + 110 + i,oil+ Treasury currency U.559 + . 6 + 19 Member bank reserve"balances 15,988 - 93 + 173 Money in circulation 28,1+09 + 226 + ik Treasury cash 1,325 - k - 92U Treasury deposits with F. R# Banks 658 + *i-6 + 151 Nonmember deposits and other F.R. accounts 1,603 + 57 + 70 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.li.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase < Dr decrease since July 2, June 25, July 5, 19U7 I9u7 191*6 Gold certificates 19.31*7,179* •118,000 ++22,,, 005,971 Redemption fund for F. R, , notes 709,896 28 - 60,1*10 Total gald certificate reserves 20,057,075 +117*972. +1 ~&&W Other cash •218*778 - 21,157 «• 1*1*.512 Discounts J md advances 109,885 - 22,1*78 - 128,1*68 Industrial loans 1,7U* 29 + 562 Acceptances purchased - 22,710 l\ S. Govt, , securities: Bills 1U,129,175 -255,828 + 55,280 Certificates 6,1*03,266 +501,000 -1 ,171*, 716 Notes •569,300- -.. '226,500 Bonds 727,390 27,900 Total U, S. "Government securities 21,629,129 + 1*7,172 --11 ,575,656 Total loans and' securities 21,71*0,758 + 21*, 665 ^1 ,521*, 252 Due from foreign banks' 102 + 19 F R notes of" other banks 9U,093 - 6,75b - 19,U51 # # Uncollected items- 2,582,115 + 88,083 + 557,1*29 Bank premises 51,929 61 - 992 Other assets 1*7,557, 781 + .. 282 TOTAL ASSETS hk,772,205 +201,971 + 711*, 50l* ilil'l hi 1111 Federal Reserve notes. 2U,26o,l7l* +195,820 - 61,1*51 Deposits Member bank - reserve account 15,988,2kk - 92,51*1 + 172,776 U S,Treasurer-general account . 658,199 + 16,585 • •+ 151,11*6 # Foreign 1*62,5^2 '+ 57V 555 •- 1*2,71*1* Other 5lU,625 + 5,01*1* + 1*3,590 Total deposits 17,625,608 - 15,559 + 529,768 Deferred availability^items 2,173,1*11* + 25,590 + 582,660 Other liabilities including accrued U 0 dividends . 9,016 - 7,1*1*5 - 355 TOTAL LIABILITIES 1*1*, 071,212 +200,1*08 T~ 650,622 P I L A C C 0 U N'. T "*S Capital paid in 192,090 '+ 302 + 8,872 Surplus (Section 7) 1*59,825 + 81,1*68 Surplus (Section 13b) 27,1*55 + 27 Other capital accounts ** 1*1,625 + 1,261 - 26,685 TOTAL LIABILITIES. AND "CAPITAL ACCOUNTS 1*1*, 772,205 +201,971 + 711*,30l* Ratio of gold certificate reserves to deposit and F R . note # # 1*7.9$ + ,# + !*,!*/« liabilities combined Contingent liability on bills purchased for foreign correspondents 5,502 1*15 + 5,502 Commitments to make industrial loans 7,036 11* + 1,629 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 JULY 2, l^kl (In thousands of dollars) A S S E TS Total Boston New York Fhila Cleve. Rich.- Atlanta, Chicago St*Louis Minn. Kans.Cy. Dallas SanFran. # Gold certificates 19,31*7,179 71*7,675 6,066,316 815,2.39 111*2,602 9U3,98U 920,3751*076,625 5^6,865 370,^3 579,000 1*60,9162657,089 Redemption fund for F. R. notes 709*896 5U,Q87 113,9U5 60,56!* 75,502 53,781 U3,532 80,895 .1*5,1*78 21,189 33,229 2L*,251 105,1*1*3 Total gold certificate reserves 20,057,075 801,762 6,200,261 875,853 1218, lol* 997,765 963,907 U57,520 592,3U3 391,632 612,229 1185,1672760,532 Other cash " 218,778 23,71*2 37,893 11,807 17,060 11,756 19,831 29,337 12,71*0 .4,016 '8,922 10,733 28,91*1 Discounts and advances 109,88^ 9,175 20,887 5,1*08 10,718 12,028 3,011; 6,1*05 16,233 6,188 15,301-. 2,108 2,1*20 Industrial loans 1,71*1; 9 — 1,735 U. S. Govt, securities: Bills. lit, 129,173 937,555 3,275,361* 1151,166 11*18,700 937,009 73l*,221* 192^,6^1 685,521* U5,290 722,599 537,313 1339,738 Certificates 6,1*03,266 1*18,1*69 1,69!; ,902 1*18,962 635,566 388,930 322,228 788,270 3u6,827 181,51*9 308,6-19 303,229 595,715 Ivotes 369,300 211,135 97,751 2^,163 36,656 22,1*31 18,581* U5,U63 20,003 10,U70 17,799 17.1*88 3U,357 Bonds ' 727,390 1*7,536 192,535 1*7*593 72,199 1*1*, 181 36,605 89,51*5 39.39S 20,625 35,058 5l*,l*l*6 67,671 Total U.S. Government securities 21,629,129 ll;27,695 5,260,552 161*1,884 2163,121 1392,551 1161,61*1 281*7,919 1091,752 627,932 1081*,075 892,1*76 2037,531 Total loans and securities " 21,71*0,758 11*36,879 5,281,1*39 161*9,027 2173*839 ll*ol*,579 1161*,655 285l*,32l* 1107,985 63l*,l2o 1099,376 89^,581* 2039,951 Due from foreign banks 102 6 l/ 33 8 9 5 1* ll* ' 1* ' " y ' )\ 3 9 P,R. notes of other banks 9l*,093 l*,22s 1*0,577 1*,797 5,1*81* 9,806 8,1*55 12,681 5,612; 6,260 6,813 3,852 15,536 Uncollected items * 2/582,9.13 212,259 1*89,1-52 176,078 21*7,930 228,6ll* 157,351 1*18,892 119,657 63,981* 131,728 ill*,075 222,393 Bank premises * 31,929 1,26? 8,3^*9 3,112 f 3',79l* 2,61*1* 1,505 3,030 .,1,988. 1,221* .2,1*86 778 1,750 other assets . *U7,357 3,135 11,709 .2J56 : U,873 2,751* 2,572 6,180 2,850 ^1,325 2,217 2,286 1*,700 TOTAL ASSETS. 1*1*,772,205 21*83,272 12,039,1*13 2723,1*38 3671,093 2657,923 2318,280 7U81,978 181*3,1^79 110l*,561* 1863,775 1511,1*78 5073,812 l/ifter deducting $69,000 participations1 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 TIM FEDERAL RESERVE BAKKS ON JULY 2, 191+7 {• (In thousands of dollars) L I A B I L I T I ES .. Total Boston Ne"w York .'PhiId, Gleve, Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. Feueral Reserve notes 2l+,260,17l+ 11+65,621+ 5,620,265 161+6,909 2097,865 1662,917 1567,582 1+558,575 1078,772 589,690 907,565 581,650 270l+,762 Deposits: ksxaber bank-reserve aect. 15,988,21+1+ 726,075 5,025,789 796,205 1191+J+12 705,520 717,1+76 251+7,388 571,21+5 595,051 771,1+02 758,577 1981,126 U.S.T'fsasurer-general acct. 658,199 29,979 191,1+88 1+1,1+97 1+5,917 1+1,598 55,031 9l+,ll+3 38,183 55,699 50,965 30,812 1+2,889 Foreign 1+62,51+2 28,781 l/l57 ,i+ll+ 36,336 1+1,720 21,981 18,395 61,010 15,701 11,215 15,701 ll+,8ol+ 59,1+86 Other' 51U,625 2,785 1+52,269 5,6M+ 12,951 2,1+20 5,31+1+ 5,5U2 6,059 2,256 1,505 601 1+5,289 Total deposits 17,625,608 787,618 5,806,960 877,680 1295,000 769,519 774,21+1; 2506,085 651,163 W+,l8l 819,571 80l+,79l+ 2106,790 Deferred availability items 2,178 ,i+ll+ 186,1+96 591,71+6 11+1,1+29 212,592 189,71+8 ll+6,52l 3kl,h0B 106,951 51,999 ,110,590 100,027 199,327 Other liabilities includln accrued dividends 9,016 569 2,175 565 885 1+76 1+20 1,695 395 299 hU k29 695 TOTAL LIABILITIES 1+1+,071,212 21+58,507 11,821,11+6 2666,581 5606,51+2 2622,660 2288,567 7587,759 1817,266 1086,169 1857,91+5,1486,900 5011,572 Capital paid i© 192,090 11,177 67,551 H+,250 18,758 8,102 7,565 22,999 6,552 !+,22l+ 6,1+00;' 7,109 17,885 Surplus (Section 7) 1+59,825 27,557 156,51+9 34*720 1+1,391+ 20,676 18,665 65,078 16,577 10,997 15,729 15,777 58,106 Surplus (Section 15b) 27,1+55 5,012 7,255 l+,l+89 1,007 5,325 762 1,1+29 521 1,073 1,137. 1,307 2,11+0 Other capital accounts . U,625 5,219 6,954 . 5,1+18 5,612 5,160 2,925 1+,715 2,1+85 2,101 2,566 2,585 1+,1H TOTAL LIABILITIES AND .••-?' CAPITiiL ACCOUNTS ,; l+l+,772V2p5 21+85,27-2 12,059,1+15 2725,458 5671,095 2657,925 2518,280 71+81,978 181+5,179 110l+,561+ 1365,775 1511,1+78 5075*812 Contingent liability, on bills purchase for foreign correspondents 5,502 552 2/l,76l 1+1+6 512 270 224 7I+8 192 158 192 181 1+81+ Commitments.to make industrial loans 7,03^ 1,071+ 1,508 82 27 52 -1+00 — 5,750 — 165 F. R, notes outstanding 2l+,8l+0,0l+6 11+95,345 5,729,1+75 1688,126 2ll+i+,9l3 1710,067 li+11,985 1+607,906 1101+,1+70 602,571+ 925,230 609,011 2810,91+1+ Collateral for F. R, notes [' : held by F. R. agents: Gold certificates 12,285*000 1+55,000•" 5,1+70,000 500,000 650,000 675,000 570,0005050,000 500,000 i8l+,ooo 280,000 169,000 2000,000 Eligible paper 68,570 7,1+15 12,087 5,180 — 10,580 — — 15,270 5,500 ll+,338 U. S. Govt, securities 15,562,1+82 1100,000 2,1+00,000 1200,000 1500,000 1055,000 850,000 1600,000 952,1+82 1+25,000 700,000 500,000 1100,000 MATURITY DISTRIBUTION OF LOiiJS AND SECURITIES Within 16 to 51 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 1'5" days:- 50 -d»ys 60 days 90 days 6 months to 1 year. years years 5 years Discounts and advances 109,835 85,878 i+,269 6,205 13,535 ..mrffr li.ui 1 1 11 11 Industrial loans 1,71+1+ 1,187 3 34 3 -26* 53 108 330 U. S. Govt, securities 21,629,129 3,188,251 2,29.1,593 4,420,686 5,^2,460 1,629,753 3,670,596 295,400 148,350 542,01+0 l/ After deducting $305,048,000 participations of other Federal Reserve Banks • 2/ ISter deducting $3,74l*OOQ participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis