H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF; GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, July 25; not earlier) H.li.l July 2k, 19U7 CONDITION OF TIE FBDBRi^L RESERVE BANKS During the week ended July 23, member bank reserve balances decreased ^92*000,000, Reductions in;member bank reserves arose from a decrease of $155*000,000 in Reserve Bank credit and an increase of 1183*000,000 in Treasury deposits with Federal Reserve Banks, offset in part by an increase of 033*000,000 in gold stock and decreases of $80,000,000 in money in circulation and $132,Q00,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on July 23 were estimated to be approximately £700,000,000. Holdings of loans, discounts and advance? increased $19,000,000 while holdings of United States Government securities decreased $58,000,000. The decrease in holdings of United States Government securities reflects a decrease of $78,000;000 in certificates and an increase of ^20,000,000 in bills. Changes in member bank reserve'balances and related items during the week and the year ended July 23, I9li7* were as*follows: Increase or decrease since July 23, July 16, July 21* f 19U7 19U7 19^6 (In millions of dollars) U, S. Government securities 21,700 - 5'8 -1, 952 Loans, discounts 'and advances 120' + 19 - 100 Other Reserve Bank credit 273 - 116 - em ; Total Reserve Bank credit ; 22,093 _ 155 " -2> 136 Gold stock S1,U67 + 33 +1, 198 Treasury currency U,55o --- + 11 _ Member bank reserve balances 16,2UU 92 + 3.67 Money in circulation 28,11*5 - 80" •^ U2 Treasury cash 1,330 - 1 - 933 Treasury deposits with F R, Banks 939 + 183 + 2.65 # Nonmember deposits and other F.R,accounts i,ii5l - 132 - 585 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.U.l(a) STATEMENT- 0? COIDYflCm OF THE TWELVE FEDERAL REoERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 25, July 16, July 2-h, l<&7 hhl 191*6 A S S E TS Gold certificates 19,500,179 + 25,000 +2,165,970 Redemption fund for F, R notes. 772233,,667700 1 -.: 1*9,551 # Total gold certificate reserves 2200,,222233,,8811::99 + 2lt,999 +2,'116,1+19 Other cash 272,963 + 19,1*65 - 27,50)+ Discounts and advances 118,501 + 19,11*8 - 100,699 Industrial loans 1,730 i + 617 Acceptances purchased — - 38,161* U. S Govt, securities: # Bills 1^,06^,132 + 20,1*07 - '360,871 Certificates 6,51*1,266 -'78,000 ' -1J331*,1*66 Notes - 369,300 -~, 1226,300 Bonds 772255,,669900 — - ' 29,600' Total U, S« Government _ _ _ __ 21,700,388 - 57,593 -1,951,237 Total loans and securities 21,820,619 - 38,1*1*6. -2,089,1*83 , ... .....> ,-.—.,.,-^—. -^~.,- .•„„. Due from foreign banks 102 _.. + 19 F # R. notes of other banks 126,330 + 516 6,795 Uncollected items 2,369,5.02 : -1*98,11*1* . + 17l*,886 Bank premises 31,91(9 ' + 1 968 Other assets 52,110 + 1,033 5,090 TOTAL ASSETS hk, 897, U2U -U90,5714 + -.163,1481* L I A B I L I T I ES Federal Reserve notes 21;, 031,61*7 - 68,662 - • 101,536 Deposits? Member bank - reserve account l6,2hk,3hk - 91,878 +: 367,052 U.S Treasurer - general account 939,169 +183,169 + ' 265,1*1*8 # Foreign 337,801 -117,1*75 - 551*, 81*6 Other 1*80,551* - 16,181 - 99,381 Total deposits 18,001,868 - 1+2,365 - 21,727 Deferred availability items 2,396,998 -381*961 .+ 221,501 Other liabilities including accrued dividends ll,7l*9 + 9l*3 * 1,113 TOTAL LIABILITIES hli, 192,262 -1492,01*3,, •+ ' 99,301 C A P I T AL A C C O U N TS Capital paid in I92,ii82 + 113 + 8,705 Surplus (Section 7) 1+39,823 — + 81,1*68 Surplus (Section 13b) 27,1*55 — + 27 Other capital accounts , 1*5,1*02 + 1,336 26,017 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS ) 1*, 897,1*21* -1*90,571* +163,1*81* 4 Ratio of gold certificate reserves to deposit and F.-R. note liabilities combined 1*8.$ ,2fo I 5.2// Contingent liability on bills purchased for foreign correspondents U,753 - 301* + 4,753 Commitments to make industrial loans 6,909 + 2 t 1,1*51 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.U.l(b) STATEMENT'-OF CONDITION OF THE P&DBRAL RESERVE "BANKS ON JULY 23, I947 (In thousands of dolla'rs) S S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Rans.Cy. Dallas SanFran. Gold certificates 19,500,179 719.839- 6,177,668 812,2301143,48a 905.539 878,219 3988,999 553.455 340,822 583.104 454,693 2642,127 Redemption fund for F, R. notes 723,670 -53,935 118,339 60,297 75,208 53,632 2*3,562 90,657 45,407 21,167 34,166 "24,196 103,224 Total gold certificate reserves 20,223,849 773.774 6,596,007 872,527 1218,772 959.171 921,581 4079,656 598,862 361,989 617,270 478,389 27U5,351 Other cash 272,963 31,1 47,475 15,321 22,985 12,514 21,064 37,772 16,444 6,869 8,434 11,03 5 41,600 Discounts and advances 118,501 11,' 17,750 8,830 16,259 13,876 8,209 5,387 9,943 738 7,132 3,474 15,110 Industrial loans 1,730 l,72i| U. S. Govt, securities: Bills 14,064,132 962,545 2,885,291 1149,590 1453,656 967,694 812,326 2100,942 68.4,457 447,489 734,910 552,505 1312,225 Certificates 6,541,266 428,059 l,728,6o2 429,181 648,935 397,619 329,li98 805,965 353,752 185,455 315,323 309,353 609,434 Notes 369,300 24,167 97,597 24,230 36,637 22,449 18,602 45,502 19,972 10,470 17,802 17,465 34,407 Bonds 725,690 47,489 191,782 47,613 71,993 44,113 36,554 89,414 39,2ii5 2o,574 34,932 34,320 67,611 Total U.S.Govemment s e curities 21,700,338 14:62,260 4,903,362 1650,614 2211,223 1431,875 1197,480 3041,823 1097,426 663,988 1103,017 9,13,643 2023,677 Total loans and securities 1,020,619 1474,059 4,921,112 1661,168.2227,482 lii45,75l 1205,689 3047,210'1107,369 664,726 1110,149 917,117.2,033,787 Due from foreign banks 102 6 l/33 3 9 5 4 • 14 4 3 4 3 9 F.R.notes of other banks 126,330 5,809 23,068 .6,678 7,090 14,187 9,558 15,860 7,019 99,8,8222 2 66,4,47766 3,476 17,287 Uncollected items 2,369,502 191,344 455,057 158,815 213,582 201,366 146,125 376,019 107,102 63,481 128,313 105,886 222,i+32 Bank premises 31,949 !.269 8,349 3,112 3,794 2,651 1,504 3,043 1,988 1,224 2,486 778 1,751 Other assets 52,110 3,363 12,904 3,069 5,542 2.,959 2,867- 6,864 3,069 1,478 2,268 2,668 5,059 TOTAL ASSETS 44,897,424 2481,074 12,063,935 2720,698 3699,256 2638,604 2308,392 7566,438 1841,857 1109,592 1875,400 1519,852 5,072,276 1/ After deducting $69,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 23, 191+7 (In- thousands of dollars) L I A Total .Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis • Minn. Kans.Cy. Dallas SanFran, Federal Reserve notes 2l+,08l,61+7 lhhk,926 5,561,372 1631,767'2085,151 l6Ul,6lii 1357,856 li527,870 1071,818 585,037' 910,951* 583,758 2679,52li Deposits: Member bank-reserve acct.l6,2i+l+,3l+i+ 738,980 5,036,213 79ii,188 1228,1*97 717,025 716,267 21+57,511* 596,523 1*08,717 776,51*3 766,117 2005,760 U.S.Treasurer-general acct. 939,169;'; 51,1*89 322,562 69,1*1*1* 88,81+9 5l*,2l+2 L. o,55k 107,736 35,988 33,756 3k,Q9h 37,1*59 62,196 Foreign " 337,801 19,212 l/l.5l+,288 2U,227 27,816 111, 656 12,263 1*0,678 10,1+69 7,1*78 10,1*69 9,870 26,375 Other U80,55U .-. 2,21+5 1*13,095 2,896 7,976 1,794 2,850 3.182 5,811 2,388 1,308 389 36,61*0 Total deposits 18,001,868 811,926 5,906,158 890,755 1353,138 787,717 773,911* 2609,110 61*8,791 1*52,339 823,211+ 813,835 2130,971 Deferred availability items 2,096,998- 178,268 " 37l*i955" 11*0,181 l9l*,3l*l 173,020 11*6,019 332,660 94,583 53,178 1H*,608 96,975 198,210 Other liabiliti-e-s including accrued dividends •" 11, . 7 . 1* ,. 9 ^7 83 2_,2_0^ 1; - 797; 1,1*55 66 ; 9 61*8 2,076 521* 555 _ 556 538 962 TOTAL LIABILITIES 1+1+,192~262 21+35,905 ll,8l*lt,689 2665,500 565I*,035 2605,020 2278,1*37 71*71,716 1815,716 1091,089 181*9,331* 11*95,106" 5009,667 Capital paid in,. 192,1+32 11,196 67,581: li*,260' 13,770 8,135 7,l*n 23,031* 6,355 h&l 6,1+58 7,135 17,922 Surplus (Section 7)' 1+59,825 27,557 136,51*9' 3l*,72o 1+1,394 20,676 16,663 65,07s 16,577 10,997 15,729 13,777 38,106 Surplus (Section ljb) 27,1*55 3,012 7,253 1;,U89 1,007 3,325 762 1,1+29 521 1,073 -1,137 1,307 2,il|0 Other capital accounts 1+5,1+02 3,406 7,913 3,721 l+.ooo 5,1*1*8 3,H9 5,181 2,688 2,196 2,762 2,527 l+,l+l+i TOTAL LIABILITIES AND : CAPITAL ACCOUNTS 1+4,897,1+21+ 21+81,071+ 12,065,985 2720,698 3699,256 2638,60I* 2503,392 7566,1*38 181*1,857 1109,592 1875,1*00 1519,052 5072,276 Contingent liability on bills purchased for foreign correspondents ^! ',753r 301* 2/1,521 585 1*1*2 253 195 62+7 166 119 166 157 1+18 Coaimitmenfcs to make industrial loans Q 1,073. 1,3-30 83 ,27 51 1+00- 3,750 160 6J9 9 F.R.notes outstanding 24,811,318 li+95,875 .5.717,723 1681,871 2157,81+9 1698,1+10 11+00,590 1*619,918 1113,607 600,833 933,860 611,611 2,799,166 Collateral for F.R. notes held by F. R. Agentsj Gold certificates 12,118,000 1+55,000 5,1+70,000 500,000 655,000 675,000 570,000 2860,000 500,000 181*, 000 280;000 169,000 2000,000 Eligible paper ::61*,509: 9,905 8,510 6,1*1*0 — 12,530 ---'! — '• 8,910 6,100 12,511+ U. S. Govt, securities 15,667,816 1100,000 2,1+00,000.'1200,000 1500,000 1055,000 850,000 1800,000 937,316 1+25,000 700,000 500,000 1200,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within ' 16 to 51 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 113,501 •- 85,1+56 1,305 l+,385 28., 80.-5 Industrial loans 1,730 . 1,182 28 3 26 :53 108 330 H.S.. Govt, securities 51*0,31*0 21,700,388 3,073,1*02 2,189,21+0 5,71*9,339 1*,327,030 ;i^7l*,6ll IT, 102^596' '295,1+00 H+8,550 l/ After deducting $205,586,000 participations of other Federal Reserve Banks. 2/ After deducting $3,232,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis