H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Bp.'iRD OF GOVERNORS -OF THE. FEDERAL RESiJRVS SYSTEM (Released for Publication Friday-morning, September 19; not earlier) H.U.I September 18, I9U7 CONDITION OF THE FEDERAL RESERVE BANKS ... .I.II. 1 1 in. .111.. lit..111 ... ,n. Mil... »> .in 1 ••' •» During the week ended -September 17 member bank reserve balances increased $196,000,000, Additions to *jmxt&er'bank >reServes arose from an incr^&se of $120,000,000 in gold stock and decreases of $109,000,000 in money in Circulation, $23,000,000 in Treasury cash, $3>000,000 in Treasury deposits with Federal Reserve Banks and $$0,000,000 in nonmenber.deposits and other Federal Reserve account's, offset in part-by a decrease of '$7$y-0Q0>Q00 in Reserve Bank credit* Excess re serves of member banks on September 1-7 were estimated to be approximately : 1,150,000,000. P .Holdings of loans, discounts and advances increased $10,000,000 while holdings , of United States Government sec ratios'decreased $286,000,000. The; .de«> crease in, holdings of United States Government securities .-reflects .depresses fit $270,000,000 in bills and $17,000,000 in certificates* Changes in member bank reserve balances and- related items during<the week and the year ended September 17, l'9it7* were as follows:. Increase or decrease since Sept. 17, Sept. 10, Sept. 18, (In millions*of dollars) U # S. Government securities 21,756 - .286 <ri» 1,665 Loans, discounts and advances 132 + 10 - 131 Other Reserve Bank credit 507 + 200 •* 33 Total Reserve Bank credit 22,391; _ 78 _ 1,830 Gold stock 21,935 + 120 + 1,61*7 Treasury currency . U.550 - 1 + 5 Kernber bank reserve balances 17,128 + I96 + : 8U8 Honey in circulation 28,63.3 - 109 + 180 Treasury cash 1,306 - 23 - 959 Treasury deposits with F.R. Banks •; 2U0 - 3 - 119 Nonmember deDOSits and other F.R. accounts 1,572 - 20 - 127 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATE1EHT OF CONDITION H.U.l(a) OF TEE TFffiLVE FEDERAL RESEi.VE BANKS CCHBINED (In thousands of dollars) Increase or decrease since September 17, September 10, September 18, 19U7 19U7 19^6 A S S E TS Gold certificates 20,019,670 +127,1496 +2,692,li92 Redemption fund for F, R. notes 705,527 ; + ;5,555 z 65,919 Total gold certificate reserves 20,725,197 ] +153,051 +2,626,573 Other cash 252,70!* + Hi. 767 - 1*5,868 Discounts' and advances 129,779 + 9.282* - 132,1*21 Industrial loans + 762 1,829 - 76 Acceptances purchased 5,hh5 U. S, Govt, securities: Bills 13,536,217 -269,881 - 950,523 Certificates 7,025,1*16 - 16,800 - 577,993 Motes U7U.300 - 121,500 Bonds : 719,690 — Total U« S. Governnent 35,600 securities 21,755,623 -286,681 -1,665,216 Total loans and securities 21,887,231 -277,i473 Due from foreign banks 99 -1,802,520 F. R. notes of other banks 13U.231* ; + 19,087 + 7 Uncollected items 3,261,510 • +793,328 M90 Bank premises 31,863 + 26 + 371,501* Other assets 909 U?.7it9 - 7,010 + ^»953 TOTAL ASSETS 1*6,31*2,587 +675,776 +1 ,151,055 L I A B I L I T I ES , Federal Reserve notes 21*, 565,897 - 8U.515 **?- li*6,670 Deposits; liejriber bank -r-3ser„ye account •17,-123,005 +196,003 + 81*7,802 U S Treasurer- ^en^ral account 21*0,39k - 2,1*60 - 118,963 # # Foreign 132,138 + •3,li68 - 218,876 Other 1*97,686 - 33,980 -H .37,230 Total deposits '18,298,223 +163'031 + 517,193 Deferred availability items 2,755,036 +593,919 + 399,01*1* Other liabilities including accrued dividends , ., 18,598 + 1,589 + 6,901 TOTAL LIABILITIES , U5,637,75U +671+,.021* + 1 ,099,808 C A P I T AL A C C O U N TS Capital paid in 193,1*22 + 55 + 9,037 Surplus (Section 7) 159,823 + 81,1*68 Surplus (Section,13b) 27,li55 «••« *-4 27 Other capital accounts 1*1*. 133 + 1,697 s ,59,285 —i— TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 1*6,31*2,587 ' +675,776 +1,151,0.55 Ratio of gold certificate reserves to deposit and F.R, note liabilities combined 1*8.1$ 5.5fo Contingent liability on bills purchased for foreign correspondents 3,236 151 5,236 Commitments to make industrial loans 7.1*67 59 1,532 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

iUi..a(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS US SEPTEJEER 17, 19^7 (In thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve Rich. Atlanta Chicago St Louis. Minn. Kans.Cy. Dallas SanFran. # # Gold certificates 20,019,670 765,080 6750,?lO Slt7,867 i 31*8,1*80 8lU,053 736,1+51 U280,059 575,081 36*4,995 602,959 1*88,162 2618,773 f Redemption fund for F. R notes 0 120,751 60,61*9 75,553 61,957 :51,665 97,725 1*5,151* 22,063 35,977 26,013 52,563 Total gold certificate reserves 20,725,197 820,737 6,871,1+61 908,516 1223,833 903,010 788,116 2+377,782+ 620,235 387,058 638,936 5H+, 175 2671,336 Other cash 252,7011 23,1+20 1+5,871 11,652 21,386 13,098 19,188 39,U+5 10,2+58 6,897 8,809 9,912 2+2,568 Discounts and advances 129,779 6,003 69,196 5,205 18,1+22 6,031 1,950 i+,232 8,929 828 2+,6o2 1,272+ 3,107 Industrial loans l,82 3 U. S. Govt* securities? 9 Bills 13,536,2^7 916,778 2,2+16,031 1090,796 1383,583 1076,720 956,682 1872,707 677,516 2+2+5,567 765,1+27 51*6,553 1387,852 Certificates 7,025,1+162+62,133 1,82+5,172 2+65,937 695,582 2+28,31+3 355,22+2+ 868,572+ 377,627 199,152+ 338,880 330,529 658,2i+i Kotes 1+71+.300 31,199 12l+,57l 31,1*57 i+6,960 28,919 23,983 58,639 25,2+95 13,2+2+5 22,878 22,315 2+2+,2+39 Bonds 719,690 k7,%l 169.021 2+7.731 71.256 2J3.880 36,391 88,977 , 33 685 20.1+02 ; 32+.715 33.860 67.1+31 1 Total U»S»Govex-n:ment securities 21,755,62312+57,2+51 i+,572+,795 1635,921 2197,381 1577,862 1372,300-2888,897 1119*323 678,568 1161,900 933.262 2157,963 Total loans and securities 21,887,231 12+63,1*57 l+,6i+3,99l 162+2,922 2,215,8031,583,923 137U.250 2893,129 1128,252 679,3961166,502 93I+,536 2161,070 Due from foreign banks 99 6 1/ 30 8 9 5 :- H . 1 2+ h 3 1 + 39 F.R. notes of other banks 2S:, 727 15l+,23i+ 5,171 6,212+ 9,736 12,122 16,911+ .9,19/0 13,507 8,91*2 i+,289 18,669 Uncollected items A 608,11+2 233,817 30 6 3 j , 7 1 5 9 3 2 312,9^2 210,296 1+97,667 12+1+,321 3,261,510'^62,851 87,650 158,080 135,1*13 302,139 Bank premises : 31,863 x>259 8,312 3,133 3,775 2,61+8 1,1*97 3,056 1,979 1,219 2,2+72+ 773 1,738 Other assets 1+9,72+9 3*271+. 11,527 2,91+8 2,92+6 2,579 6,372 3,015 1,396 2,306 2,291 !+,857 6,238 TOTAL ASSETS i6,31+2,587 2580,175 12,212,061 2809,210 3785,989 2828,308 21+08,052 783l+,331 1917,1*51; 1177,126 1986,053 1601,392 5202,386 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.iul(c) STATELIEST OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 17, 191*7 (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Cleve.' Rich. Atlanta Chicago St,Louis Minn. Kans»Cy, Dallas SanFran. Federal Reserve notes . 2.14,565,897 1454,545 5,635.544 1659.095 2127,63!; 1719,060 11*00,599 4602,157 1102,204 610,339 941.830 615,880 2697,010 Deposits: member bank-reserve acct.17,128,005 783,1*18 5,256,;3li9 840,11*2 128k, 595 768,996 7U6,988 2632,7% 619.57^. 447,21*6 8U3,398 810,093 2089,li55 TJ»S.Treasurer-general acct. 21*0,39I; 21,097 63,263 22,066 16,676 18,187 3,?2i 13,361 12,070 12,928 18,31k 12,615 20,896 Foreign 1*32,138 2lu7i0 1/170,211* 31,185 35,805 18,865 15,785 52,360 13-U75 9,625 13,1*75 12,705 33,93a Other 1*97,686 li,02li. klQ.hh^ 1.Q61 6,1* d* 3,238 1,894 8,186 kh5 883 1*4,851* Total deposits 18,298,223 838,21*9 5,909,269 895,354 132*3,480 809,336 768-5S8 2707.563 653,302 1*7&,015 875,6^2 8^6.296 2189,139 Deferred availability items 2,755,036 21*1,087 444,625 196,345 21*7,1,65 263,151 207,702 427,321* 135,01*9 11*1,573 123,604 252,037 Other liabilities including accrued dividends 18,598 1,067 3,889 1,21*3 1,921; 1,151 1.097 2,765 793 1,136 882 7U7 1,904 TOTAL LIABILITIES 1*5,637,751* 253l*,9i*3 11,993,327 ^752,037 5720,503 2792,698 2377,986 7739,809. 169l,3»48 1158,514 1959,917 1576,527 5140,12*0 Capital paid in 193,1*22 11,212 68,166 li*,303 18,801* 8,11*2 7,1*1*3 23,150 6,348- 4,265 6,1*63 7,206 17,920 Surplus (Section 7) 1*39,823 27,557 136,5u9 3U,720 1*1.394 20,676 18,663 65.. 078 16,577 10,097 15,729 13,777 38^106 Surplus (Section 13b) 27,1*55 3,012 7,253 1*,1*89 1,007 3,325 762 1,1*29 521 1,073 1,137 1,307 2,11*0 Oth-er capital accounts 1*1*, 133 3,046 6,766 3,661 1*,281 3,467 3,198 4,915 2,660 2,277" 2,807 2,575 4,080 TOTAL LIABILITIES AND -CAPITAL ACCOUNTS 46,31*2,587 2580,175 12,212,061 2809,210 3785,989 2828,308 21*08,052 7834,381 1917,1*54 1177,126 1986,053 1601,392 5202,386 J2:aa£isgent liability on bills purchased for foreign correspondents 3,236 207 2/1,036 262 301 158 133 1*1*0 113 81 113 107 285 Commitments to make industrial loans 7,1*67 — 961 1,1*91 76 1*27 29 580 3,750 153 F»R. notes outstanding 25,311;,894 1510,269 5,781,858 1712,138 2188,156 1757,260 11*52,720 1*703,272 111*7,948 622, 571 970,4 60 61*1*,906 2323,336 bilateral for F. R. notes held by F.R, Agents: Gold certificates 11,938,000 1*1*0,000 3,1*70,000-515,000 695,000 560,000 1*75,0002850,000-300,000 181*, 000 280,000 169,000 2000,000 Eligible paper 83,588 1*,U5 59,256 2,815 — 4,335 7,896 90 3,570 511 U.S. Govt, securities 13,889,1*62 1100,000 2,1*00,000 1200,000 1500,000 1220,000 1000,000 1900,000 919,462 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES T/ithin 16 to 31 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 129,779 106,1*27 17.1*56 3,391 2,505 Industrial loans 1,829 1,282 26 """"56 """si* 109 302 U. S. Govt, securities 21,755,623 3,038,532 2,131,000 1*, 078,979 U.711.609 3,016,080 3,917,833 178,900 255,150 hZl>%0 1/ After deducting $261,800,000 participations of otker Federal Reserve Banks* 2/ After deducting $ 2,200,000 participations of other Federal Reserve Banks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis