H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, July 11; not earlier) H.U.1 July 10, I9U7 CONDITION,. OF ,THE FEDERAL RESERVE BANKS During the week e.nded July 9, member bank reserve balances increased $202,000,000* Additions tcj member bank reserves arose from an increase of $52,000,000 in gold'stock and decreases of $^6,000,000 in money in circulation, $92,000,000 in Treasury deposits, with Federal Reserve Banks and $133,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by decreases of $110,000,000 in Reserve Bank*credit and $8,000,000 in Treasury currency;and an in crease of $1|,000,000 in Treasury cash*. Excess reserves of member banks on July 9 were estimated to be approximately .$670,000,000. Holdings of loans, discounts and advances increased $10,000,000 while holdings of United States Government securities decreased $18,000,000» The cieorease in holdings of United States-Government securities reflects ,a decrease ; of [ $136,000,000 in bills' 'and" an' increase of $119,000,000 in certificates.'1 Changes in member bank reserve balances and related items during the week and the year ended July 9, l^kl * were as follows: Increase or decrease since July 9, July 2, July 10, 19U7 19U7 . . -19U6 Tin ; millions of dollars}^ U. Si« Government securities 21,611 — 18 _ 1,783 Loan's, discounts,! and advanc.es,. 122 •f 10 « 171 Other Reserve Bank credit 302 - 102 - 30 Total Reserve Bank credit 22,035 - 110 m ' l,98ll Gold stock. 21,336 + 52 + 1,065 Treasury currency it,551 - 8 + lU Member bank reserve balances 16,190 + 202 + 301 Money in circulation 28,363 - i|6 + 28 Treasury cash 1,329 + h - 925 Treasury deposits with F R Banks 566 - 92 - 98 f f Nonmember deposits and other F. R, accounts i,U75 - 133 - 209 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 or decrease since July 9, July 2, <J uly 10, 191+7 19^7 I9U6 A S S E TS Gold certificates 19/376,179 + 29,000 +2 ,03it,972 Redemption fund for F. *R notes 725,689 + •15,793- 2^,618 # Total gold certificate reserves 20,l'0l,b6b— -~T-^,793 -*T ,990,3bk Other cash 231,906 + 13,128 - 53,852 Discounts and advances „ 1.20,659 + 10,77k - 171,202* Industrial loans 1,738 6 4- 528 Acceptances purchased -«. — • 28,235 U. S. Govt* securities: Bills ' 15,992,75U -136,2*39 • U59,965 Certificates 6,521,766 +118,500 -1 ,060,216 Notes 569,300 *.- .- 226,300 Bonds 727,590 «•«» - 27,900 Total U. S Government' # securities ' 21,611,190 - 17,939 -1 ,782,379 '-i Total loans %nd securities 21,733,537 -'. 7,171 ,981,358 Due from foreign banks 102 — + : . 19 F fL .notes of other banks 105,9^5 + 11,352 - 12,286 # Uncollected items •• 2,355, (9h -22|3,2U9 + 293,97ii Bank,premises, ' 51,9^3 + 19 - •972 Other assets 2+9, OlS + 1,661 + 595 TOTAL ASSETS hk,503,068 -1314,137 + 251,512 LI-A B UJ ,T I'E S Federal Reserve notes 2h,2U3,9U6, - 16,228 57,782 Deposits; Member bank - reserve account 16,190,191 +20-1,9U? + 500,907 IT.S f Treasurer - general account .565,^95 - 92,661 «» 98,706 Foreign 3U0.18I. -122,361 - 175,387 Other 5QU,276 - ML - 97,607 ; Total deposits 17,600,2^8' - 23,360 - 69,295 Deferred availability items 2,031,910' -1U6,50U + 295,9^2; Other liabilities including accrued ' dividends 9,659 + 623 - ': 867 TOTAL LIABILITIES TxW^Wf^, T135,U69 + 180,002 C A P I TA L A C C 0 U N Vs Capital paid in ' 192,221 + 131 + 8,751 Surplus (Section 7) i459,823' — + 81,2+68 Surplus (Section 13b) 27,li55 — + 27 Other capital accounts , 2+2,826 + 1,201 - 26,956 TOTAL LIABILITIES AND CAPITAL ACCOUNTS kh,508,068 -lGlt, 137 + 251,512 Ratio of gold certificate reserves to deposit and F.R.note liabilities combined .1% Contingent liability on bills purchased for foreign correspondents 5,52+7 175 + 5,527 Commitments to make industrial loans 6,975 61 + 1,605 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 9, I9U7 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve Rich. Atlanta Chicago St.Louis .Minn, Karis.Cy. Dallas, SanFran. # Gold certificates 19,376,179 739,322 6,071,996 805,1*31* 1150,637 976,653 936,610* 1*085,698 557,998 376,319 586,707 U65,6& 2623,087 Redemption fund for F R. notes # 725,689 5l*,Q79 118,905 60,51*5 75,1*87 53,76k 1*3,515 90*86k 1*5,1*66 21,185 31*,226 - 2U 2l3 103,lq6 J l Total gold certificate •-reserves 20,101,868 793,1*01 6,190,901 865,979 1226,12^1030,1117 980,159 1*176,562 603,1*61* 397,501* 620,927 1*89,9272726,503 Other cash 231,906 26,519 1*3,120 10,283 19,U19 11,387 19,166 32,256 13,167 5,552 7,11*7 9,317 33,768 Discounts and advances 120,659 12,955 17,677 6,103 27,1*67 5,373 6,778 8,9Uo 18,1*83 688 10,362 3,1+08 2,1*20 Industrial loans 1,738 9 —— 1,729 — — — — — — — — —. U. S. Govt, securities: Bills 13,992,731* 958,21*7 3,086,596 111*1,583 11*22/683 932,872 780,530 1952,051* 683,873 1*18,396 728,252 5U0.738 131*1,905 Certificates 6,521,766 1*26,708 1,723,890 1*27,71*9 61*7,01*2 396,396 328,1*73 803,1*72 352,767 131*,903 3li*,376 303,1*81* 607,506 Notes 369,300 21*, 163 97,617 21*,222 36,639 22,1*1*6 18,600 1*5,1*97 19,976 10,1*70 17,802 17,1*68 31*, 1*00 Bonds 727,390 1*7,592 192,270 -1*7,708 72,161 l*l*,21l 36,636 89,613 39,31*5 20,623 35,06 3l*,l*06 67,756 Total U.S. Government securities 21,611,19011*56,710 5,100,373 1611,262 2178,536 1395,$25 1161*,239 2390:636 1100,961 63u,392" 1095,1*93 901,0962051,567 Total loans and securities 2l,733,587i*69,67l* 5,118,050 161*9,09!* 2206,003 11*01,303 1171,017 2899,576 1119* j*U* 635,080 1105,855 90l*,50l* 2053,937 Due from foreign banks 102 6 1/33 89 5 1 * 1 1 * 1 *3 1 *3 9 F.R.notes of other banks 105,91*5 3,501* 11*71*1*7 6,190* 5,19^ .11,755 10,977' 12,865 7,581 5,753 6,995 3,585 17,099 Uncollected items 2,333,691* 173,01*0 1*67,783 167,000 211,161*' 220,638 136,299 -338,215 112,021* 5l*,6!*5 127,792 93,830 231,26!* Bank premi ses 3l,9l*8 1,269 8,31*9 ' 3,112 3,79k 2,651 1,505 3,01*2 1,987 1,224 • 2,1*86 778 1,751 Other assets 1*9,018- 3,11*6 12,330 2,857 ; 5,01*0 2,908 2,662 6,31*6 2,968 1,367 2,282 2,203 1*,909 TOTAL ASSETS 1*1*, 583,0683*70,559 11855.013 27ol*,528 3676,71*7 2681,561* 2321,739 71*68,87.6 1860,6391101,128 1873,788 I50l*,ll*7 5069,290 1/ After deducting $69,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.L-.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS J)M JULY 9, 191+7 (In thousands of dollars) L I B I L I T T v. Total Boston Nov, York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cv. Dallas SanFran. Federal Reserve notes 24,243,946 11+62,1+15 5,591,555 161+5,602 2101,975 1663,1+1+2 1368,092 1+51+2,655 1078,532 589,653 910,307 581+,961 2706,785 Deposits: Member bank-reserve acct. 16,190,191 750,1+15 4,956,6l4 797,282 1220,835 736,ol+8 758,575 21+32,974 £06,280 1+06,1+22 785,059 771,185 1988,721+ U.3.Treasurer-general acct. 565,598 55,1+96 157,919- ; 1+2,980" 50,901 58,169 31,190 61+,7l+7 50,865 27,608 28,1+86 25,807 33,430 Foreign 5I+0,181 20,710 l/l20,799 - 26,125 29,995 15»303 15,222 1+5,860 11,288 8,065 11,288 10,645 28,389 Other 5—0' 4,2""7"8 ~2 ,''1 +—5 5 — • 4--2 1,-9-•5"•8 ' - 2,—57 1- 16,069 2..580 3,847 1*967 -5,751 1,907 1,1+05 585 1+5,189 Total deposits 17,600^21+8 807,074, 5,657,290 868,956 1517,798 792,600 786,634 2543,548 654,181+ 444,000 826,216 808,216 2095,752 Deferred availability items 2,031,910 155,474 585,255' 134,396 L 191,120 189,626 136,804 286,562 101,465 1+8,720 110,908 85,996 Other liabilities incliiding 205,581+ accrued dividends 9,639 599 2,55l+ 6l6 977 535 1+59 1.744 435 529 416 559 858 TOTAL LIABILITIES 1+5,885,71+3 2i+25>562 11,636,412 2647,570.56.11,868 2646,201 2291,989 7374,507 1834,616 1082,702 1847,847 1479,512 5006,957 Capital paid in 192,221 11,184 67,543 14,237' 13,751 8,107 7,395 23,012 6,344 4,229 6,4l0* 7,123 17,838 Surplus (Section 7) 439,825 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 15b) 27,455 3,012 7,253 4,439- 1,007 3,525 762 1,429 521 1,075 1,157. 1,507 2,140 Other capital accounts 1+2,826 3,244 7,256 .. 3,512 3,727 5,255 2,982 4,850 2,581 2,127 2,665 2,428 4,199 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,538,068 21+70,559 11,355,015 2704,528 5676,71+7 2681,564 2521,789 71+68,876 1360,639 1101,123 1373,783 1504,147 5069,290 Contingent liability on bills purchased for foreign correspondents 5,327 3I+I 2/l,705 1+32 1+95 26l 218 725 136 133 ..- , 186 176 469 v Commitments to moke industrial loans 6,975 . — — 1,075 1,455 79 27 51 400 — 37750 -- 160 F. R. notes outstanding 24,908,505 1500,106 5,743,276 1694,049 2151,861 1716,195 1409,824 4618,135 1118,554 604,165 950,144 612,015 2805,155 Collateral for F. R. notes held by F. R. agents: Gold certificates 11,988,000 455,000 5,470,000 500,000 655,000 675,000 570,0002850,000 500,000.1134,000- 280,000 169,0001900,000 Eligible paper 54,797 11,195 8,877.. .. 5,875 — 5,950 — "'- — 17,520- - 9,4*00 U. S. Govt, securitios 15,680,580 1100,000 2,400,000 1200,000 1500,000 1055,000 850,000 1800,000 950,530. 425,000 700,000 500,000 1200,000 - MATURITY DISTRIBUTION OF LOANS AfiD SECURITIES Within 1-6 to 51 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 • 120,659 85,952-- -'; 6,997 1,580 19,720 8,630 Industrial loans 1,758 1,189- — 23 5 27 55 108 550 U. S. Govt, securities 21,611,190 2,884,055- 2,229,555 5,514,595 4,815,012 1,582,111 5,802,096 ' 295,400 148,550 542,040 1/ After deducting $219,300,000 participations of other Federal Reserve Banks. 2/ After deducting $3,622,000 participations of other Federal Heserve Barks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis