H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FELER^L RESERVE SYSTEM (Released for Publication Friday morning, November Ik,I9U7) H«lul November 13, I9U7 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 12' member bank reserve"balances decreased $2119,000,000, Reductions, in member bank reserves arose from increases of $298,000,000 in'Treasury'deposits'with:.i?oaeral Reserve Banks,' $7h$000,000 in money in circulation, $28,000,000 in nonmember deposits and other Federal Reserve, accounts, and $i|,000,000 in Treasury cash, offset in part by an increase of $106,000,000 in gold stock and $1*9,000, 000 in Reserve' Bank cfcedit. Excess reserves of member banks' on November 12 were-estimated to be approximately $800,000,000, Holdings of loans, discounts and advances increased $225,000,000,' while': holdings of United S'tates Government securities decreased $67,000,000, The decrease in holdings of United States Government Securities reflects increases of $111,000,000 j.n.npte.s, $61,000,000 in certificates, and $30,000,000 in bonds, and a decrease of $270.0.00,000 in bills. Changes in member bank reserve balances and related items during the -week and .the year .ended. November 12, l^k'l, were as follows* Increase or decrease since Jovember 12, November 5> November 1J, Wt mi 19146. (In millions of dollars) U. 3. Government securities 22,052 - '67' -1,632 Loans, discounts and -'advances U31 + 225 + 33 Other Reserve Bank credit 206 - 109 r- 277 Total Reserve-Bank credit 22,089 +' 'k^ -1,376 Gold stock 22, LJ4.2 + 106 +2,022 Treasury currency U,r?50 1 + 2 member bank reserve balances 16,859 - 2U9 + 580 honey in circulation 28,7 H? + 7U - 52 Treasury cash 1,328 * h - 966 Treasury deposits with B\ R, Banks l,22i(. + 298 + 6U7 Nonmember .deposits' and'other F,P, acaounts 1 ^82 + 28 - 61 # J,. _/'0<- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

:S5I...IT^J:^:JT-: VO. 'CONDITION OF THE TYJ3LVF FEDSRuL RfJoEftU'Il BA. KS ;OOilBlNLD H lul(a) (In thousands ofi dollars) # Increase or decrease since November 12, November 5, ilovember 13, 191+7 I9I46 3 D*2 br' > Jrn. rS*. Gold certificates 20,-511, no + 98,500 •+3,056,7HU Redemption fund for F, R, notes •. 679,542 2k - 100,176 Total r;old certificate reserves 21,190,712 f 98,1*76 +2,956,568 Other cash 2) 6, u+ii - 12,593 20,626 4 Disc cuntG and ad.vanees ' ll28,99U +225,3148 + 32,oll4 Indu stri ai 1cans l,9lio + 23 + 818 : Acceptances purchased 1,006 |- 363 + 1,006 U. S Gov t s e c ur i t i e. s 5 # # Bills 13,2314,5714 -269,710 -1,668,120 Certificates 7,108,805 + 61 ,.000 - 93,707 Notes 970,500 +111,200 + 1145,1400 Bonds 737,690 + 30,000 - 1;5,700 Total II, S, Government . ' : ~^1HHIM£E: ~*~ 22^051-,569 - 67,510 -1,.652,127 Total leans and securities 22,1483,509 +157,1498 -1,598,289 Due from foreign banks 95 ~_ 7 F. R. notes of other banks 103,860 - 16,1481 10,1488 Uncollected items 2,659,037 +156,610 •- 150,365 Bank premises 33,208 + 590 *• »m Other assets 6I/255 '+ 2,932 + 11,119 TOTAL ASSETS l46,778;, 120 +386, U|2 +1,208,502 L I A 3 I L 1 T I S-S Federal Reserve notes 2k,5Q5 7hQ + L\2,36h * H6, 555 $ Deposits s , ; s Member bank-reserve account 16,838,792 -2148,773 " ' + 580,279 U.S,Treasurer-general aceount 1,223,521 +297,1214 + 61i6,506 Foreign l4u3,036 - 27,860 179,253 Other 507,003 .+ 55,500 + 814,982 Total deposits 19,012,3.52 + 75,991 " • +•!., 132,3114 Deferred availability items 2,1453,896 +265,1314 + ll*7,6!i7 Other liabilities including accrued diviaends 20,030 337 ++ : 5,lil3. TOTAL LIABILITIES" ll.6;072;018 +383-, 876 -- ++77, -168,819 C A P I T A L A 0 0! 0 U TTT JS Capital paid in I9li,030 + 178 + '9,097 Surplus (Section 7) 1*39,823 + 81,U68 Surplus (Section-: IJb) 27,1*55 +. 27 Other capital accounts Uk,l9h + 2,388* . 30,909 TOTAL LIABILITIES UJD CAPITAL ACCOUNTS 146,778,120 +386,1|1|2 +1 ,208,502 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined ' k8$&/« • $ %&f° Contingent liability on bills purchased : for foreign correspondents 3,046 22 2,973 Commitments to make 'industrial roans 7U76 51 1,-382 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K. ii 1(b) ? STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS OH NOVEMBER 12,191*7 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago.. St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 2o,5H,l70 71*2,62? 5,597,4ol 5.029,181 1518,712 1165,267 1092,735 1*1*25,670 606,533 1*96,501* 735,052 515,4592789,969 Redemption fund for F. P.. notes 679,5^2 54.5U5 117,82? 60,1*1*6 74,528 61,177 40,899 86,702' 1*6,362 22,955 55,757 26,518 51,708 Total gold certificate j reserves 21,190,712 797,170 '5.715,288 1089,627 1393,040 1226,1*1*1* 1133,654 4512,372 653,415 519,459 768,809 539,777 281*1,677 other cash 2i*6,l*i<i* 23,121 1*3,901 10,860 2i,76o 13,1*19 21,771 56,655 16,081 5,924 9,109 11,299 32,561* Discounts and advances 1*28,991* 18,622 189,1*26 11,66? 55,^2 25,23? 11,920 51.076 7,388 6,U*5 32,553 2,91*7 16,571 Industrial loans 1,940 — — 1,910 — 50 Acceptances purchased 1,006 1,006 U. S. Govt, securities: BiHs 13,254,574 908,55? 3,822,..ili5 948.677 1203,057 729,631 607,119 1575,C43 695,595 510,122 594,956 559,67' 121*9.629 Certificates 7,108,805 1*73,569 1,533,158 477,257 683,383 493,788 539,390 999,885 -388,260 215,823 371,621* 359.61*2 667,228 1Ictes 970,500 64,652 216,17s 65,155 94,04? 67,415 55,160 156,505 55,oo6 29,1,6!* 50,73U 49,099 91,090 B°ndS 737,690 -, 1*9,-11*5 16U.3-1S- 1*9,526 71,1*87 5l,24l 1*0,1*08 105,759 1*0,290 22,396. 58,565- 37,^20 69,259 Total U S, Government r securit'ie'g 22,051,569 1495,921 5,786,096 151*0,615 2057,454 1342,073 1090,077 2615,795 1176,951 607,805 1055,857 1005,739 2077,186 Total loans and securities 22,1*83,509 I5l4,.5l;5 5,976,52$ 155I*,192 2112,596.1567,355 1101,997 2866,871 1131*,359 6li*,250 1063,1*15 1008,686 2093,757 Due from foreign banks 95 6 l/ 26 8 9 5 4 1^ ^ 3 h 3 9 F.R.notes of other banks lo3,S60 l*,77l* 15,266 1*,5?8 6,987 3,8?4 8,867 13,018 7,706 6,896 6,109 3,358 17,1*1*7 Uncollected items 2,659,057 221,366 542,929 187,536 253,035 21*1,531* 172,527 395,729 111,223 75,761 135,929 121,595 202,075 Bank premises 53,208 1,250 8,276 3,137 5,176 2,61*1 1,1*90 3>052 1,979 1,211* 2,1*62 805 1,726 other assets 61,255 1*,077 12,990 3,653 • 5,301 1*,161 3,Uo5 8,382 5,697 1,756 3,o66 5,079 7,165 TOTAL ASSETS 1*6,773,120 2566,307 I2,5l5,2'0l* 2855,596 5798,1*01* 2861*,455 21*1*5,695 7856,075 1973,1*1*1* 1225,263 2011,905' 1688,382 5196,1*16 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.ij.-l(c) OF CONDITION"OF THE FEDERAL RBSE^•K"VB BM KS UK NOVEMBER 12, I9U7 (In thousands of dollars) L I A B I L I T I ES Total Boston Jew York Phila. Cleve. Rick. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanF'ran. Federal Reserve notes 21*, 5s 5, 71*0 11*47,706 5,621*,795 1653,513 2114,153 1740,425 1404,720 4593,961 1129,073 622,974 9ul,977 630,G63 £671,575 Deposits: -ember bank-reserve acct. 16,038,792 743,377 5,111,164 820,646 1253 019 741,249 760,206 2555,752 635,296 1*41,586 837,958 836,032 2093,707 U.S.Treasurer-general acct.£223,521 78,549 277,104 86,709 106,379 93,633 63,212 168,459 62,807 58,026 63,411 59,688 100,544 Foreign 443,036 24,019 1/188,425 30,310 34,801 18,336 15,342 50,891 13,097 9,555 13,097 12,349 33,014 Other 507,003 3,901 1*39,321 2,012 6,912 2,335 902 2,1*89 5,945 2,044 978 584 39,580 Total deposits 19,012,352 849,846 6,016,011; 9ii7,677 1401,911 860,553 839,662 2777,591 7l7,lli5 511,011 915,444 908,653 2266,8l;5 Deferred availability items 2^4.53,896 222,384 448,719 189,117 215,311 227,035 168,659 362,025 105,180 72,061 123,245 192,573 127,567 Other liabilities including accrued dividends 20,030 1,188 5,911 1,309 1^913 1,028 81*3 2,911* J2£2. 723 783 1,651 838 TOTAL LIABILITIES 46,072,018 2521,121* 12,095,439 2796,616 3733,293 2829,041 21*13,884 7741,491 1952,327 1206,769 1985,846 1663,544 5132,61*4 .tpital paid in 194,030 11,233 68,537 14,328 1R 8,182 7,1*57 23,265 6,31*4 4,277 6,1*86 7,232 18,001 surplus (Section 7) 439,823 27,557 136,5U9 .34,720 41,394 20,676 18,663 65,078 16,577 10,997 15,729 13,777 38,106 liUS Mr-,-Jht K 13b) 27,1*55 3,012 7,253 4,1*89 1,007 3,325 762 1,429 521 1,073 1,137 1,307 2,11*0 •the r capital ace ounts __.4kJ2k 3,381 3,^3 _2i822_ 3,209 1*,810 2,675 2,11*7 2,705 2,522 5,525 TOT^L LIABILITIES AND CAPITAL ACCOUNTS 1*6,778,120 2566,307 12,315,20]* 2853,596 3798,401* 2864,433 21*1*3,695 7836,073 1978,444 1225,263 2011,903 1688,382 5196,1*16 •^x Linden liability on bills ourehased for foreign correspondents 3,Ol*6 195 2/975 2U7 283 11*9 125 4ll* 107 76 107 100 268 einmitraents to make industrial loans 7,176 799 1,395 78 4 00 27 58O 3,750 11*7 P. R, notes outstanding 25,21*8,355 1501,535 5,776,919 1700,523 2171,032 1781,365 1449,573 1*665,683 1169,903 '63l*,787 963,032 655,375 2758,628 Collateral forF.R. notes hold by F. R. agents; Gold certificates 12,559,000 l*l*o,ooo 3,1*70,000 515,000 695,000 650,000 725,000 3010,000 315,000 190,000 280,000 169,000 2100,000 Eligible paper 266,863 16,203 162,630 8,605 — 23,380 — — 6,065 5,500 31,235 13,21*5 U.S.Govt, securities 13,1*00,000 1100,000 2,400,000 1200,000 1500,000 1150,000 750,000 1700,000 950,000 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOAHS AKD SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Ove r Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 428,99a 378,010 11,135 31,714 8,078 Industrial loans 1,9U0 1VU19 30 .2 51 5h 111 273 xicceptances purchased 1,006 377 1*01* 225 U. S. Govt, securities 22,051,569 .2,193,202 3,592,431 5,078,095 1*, 985,068 647,890- 4,872,193 255,150 1427,5^0 1/ After deducting $2%,k56 000 participations of other Federal Reserve Banks, 9 '5/ After deducting $2,071,000 participations of other Federal. Reserve Banks r Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis