H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF ;THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning , December 12* 1&7) H.l+.l December 11, 19^4-7 CONDIJIQN^OF THE FEDERAL RSSEIIVE BM KS During the week ended December 10, member bank reserve balances increased $?ii.,000,000» Additions1 to member bank reserves arose from decreases of SJ22 OuO OOO f f in;Treasury deposits with Federal Reserve Banks-and $I1,CCO,000 in Treasury cash and increases of $28,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by a decrease of $213#000*000 in. Reserve Bank credit and an increase of $57*000,000 in money in circulation* Excess reserves of member banks on Depember 10 were estimated to be approximately $960,000,000. Holdings of ..loans, discounts and advances decreased $12,000,000 and of United States Government securities $155,GOO,000* The decrease in holdings of United States Government securities reflects decraases of $272 .,000,000 in bills and $1+3^000,000 in certificates and increases of $135,000,000 in bonds and $1*5,000,000 in notes* Changes in member bank reserve balances and related items during the week and the year -ended December 10, 19^7* were as follows? Increase or decrease since December 10, December 3* December 11, 19kl 192*7 '• 19U6 (In millions of dollars) U. S* Government securities 21,985 _ 135 «» 2,11+3 Loans, discounts and advances 251+ - 12 - 37 Other Reserve Bank credit 378 - 66 + 1 Jotal Reserve Bank credit 22,617 _ 213 . 2,179 Gold, stock 22,708 + 28 + 2,258 Treasury currency 4,556 + 3 + 5 Member bank reserve balances 17,132 + 9k + 653 Money in circulation 28,874 + 57 •r 72 Treasury cash 1,331 «?» 11 - 939 Treasury deposits with F f R # Banks 93k - 322 + 308 Nonmember deposits and other F. R. accounts 1,610 — + 134 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT" OF SCQWElEE<3S ... OF TH3,TVffiLV£ PSjDEEaL S'|S1>E BANKS COMBIIJED (Iii "thousands of' dollars) Hj*.l(a) Increase or decrease since Deoember 10, [December 3» December 11, l'9kl 19^7 1916 A 3 S E T,S Gold certificates 20,767,170 + 33,000 +3,262,991*'' Redemption fund for•F. R, notes ' 68j,g8lt + | 16 - ib7,5'UQ. Total gold certificate reserves 2i,U5i,'o5li + 33,016 +3,155,U5U + 1,179 Other cash ' 2$2 3kk - ,5,715 r Discounts and advances 2U9,383 - 12,998 - iio,567 Industrial loans + V8U6 + • 3,358 Acceptancas purchased 290 * 113 + 290 U. S. Govt, securitiesj Bills . 12,2U9,016 -271,527 -2,800,3U3 Certificates 7,023,605 -. U2,;800 - U06,U07 Notes 1,500,750 + 10;,500 + 605,650^ Bonds 1,211,803 +135,170 + vh58 t kX3 Total U, S. Government securities ~ 21,985,17U -13U,657 -2,12*2,687 Total loans: and securities" 2222,,223399,,333377 --1122**66,,992222 -2,179,606 Due from,foreign banks 99$$ 7 F R. notes of other banks 116,718 + 5,273 - 10,737 # Uncollected items •2,612,, 191 -158,128 + 22*2,052 Bank premises 33,301 + 133 + I 765 Other assets 8ii,'26ti + 8,500 +"• 30,388 TOTAL ASSETS U6,789,.30U -256,92*9 +1,232,591* L I A B I L I T I ES Federal Reserve notes 2U,761,080 + 52*, 589 - 135,101 Deposits: Member bank-reserve account 17,132,158 + 93,659 + 652,969 U.S.Treasurer-general account 933,611 -322,2*30 + 308,013 Foreign '516,902; + 50,508 - 53,297 Other 1*7^,736 - 2*2*, 52*0 + 170,369 Total deposits .19,057>i|09 -222,803 +1,078,052* Deferred availability items 2,23*1,807 - 91,952 + 22*1,62*3 Other liabilities including accrued' dividends 20,665 + 2*39 + 5,710 TOTAL LIABILITIES U6,073,961 -259,727 +1,189,996 C A P I T AL A C C 0 U N; T S Capital paid in 19ii,85l + 121 + 9,$93 Surplus (Section 7) . ,, 2*39*823 -*.. + 81,U68. Surplus (Section 13t>) I < 27,2*55 mmmr + 27 Other capital accounts 53,212* + 2,657 - 1*8,2*90 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*6,789,302* -256,92*9 +1,232,591; Ratio of gold certificate reservesto deposit and F. R. note liabilities combined 1*9,0>t .356 6.3$ Contingent liability on bills purchased 2,762 79 3,709 for foreign correspondents Commitments to make industrial loans 7,561 118 80ii Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 10, 19i*7 (In thousands of dollars) A £ £[ jBJT £ Total Boston New York Phila. Cleve, Rich. Atlanta Chicago St^Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates 2o,y67,170 735*512 -6,107,1+51 1025,885 1577,502 1086,1+65 1017,911 1+288,692 618,558 1+55,052 71+9,885 519,570 2787,511 Redemption fund for F. R. notes 685.881+ 56,506 121.691+ 61,051 71+.975 59,781 1+0,700 86,51+1 1+6,782 . 22,913 35,691 26,257 51,1+55 Total gold certificate reserves 21,1*51,051+ 789,618 6,229,125 1086,911+ H+52,277 111+6,21*6 1058,611 1+575,055 665,31+0 J+77,965 785,571+ 51+5,607 2838,71+1+ ; Other cash 252.314+ 26,782 l+!+,756 10,886 20,026 15,756 20,555 36,283 12,952 5,502 8,657 13,770 56.659 Discounts and advances 21+9.385 12,51+2 52,115 9,51+0 21,956 22,517 17,520 H+,976 19,698 2,895 15.525 13,71+7 1+8,5^6 Industrial loans i+,1+90 1,568 29 3,093 — «•«• — ••«• tmtm — ioceptances purchased 290 290 u. S. Govt, securities: Bills 12,21*9,016 879,150 .3,1*66,51+6 859,518 1119,225 688,515 575,106 1556,003 626,990 321,763 ."562,296 1*1*9,191 111*5,153 Certificates 7,025,605 1+52,282 1.509*790 1*78,1*99 668,231 510,081* 1+15,257 988,255, l+10 889 235,771+; 358.572 58/+.551 651,1+1+5 s Notes 1,500,750 96,659 322,601 102,21*2 11*2,781 108,990 88,729 211,163: 67,795 50,579! -72,31*1* 82,165 151+.922 Bonds 1,211,805 78,055 260,1+89 82,556 115,291 88,006 71.6U5 170,507. 7q>"892 ,1+Q.,679: 58,1+15- 66,51+5 108,91+5 Total U.S. Government securities 2l,9?85,l7i+ 1506,081+ 5,559,1+26 1522,615 2d*5,528 1595,595 1150,757 2925,926 1196,566 61*8,595 3051,627 982,252 2o2o,l*i*5 Total loans and securities 22,239,337 1518,626 5,611,829 1535,525 2o67,l+&+ 11*17.71+1 H7L550 291*0,902 1216,261* 651,1*90 301*5,150 995,979 2069,019 Due from foreign banks '"95 6 1/26 8 ,9 5 1+ 11+ 1+ 5 1+ 5 9 F.R. notes of other banks 116,718 5,729 17,015 8,122 6,889 12,967 12,511 16,691 6,791 i+,676 7,028. 1*,082 16,1*17 Uncollected items 2,612,191 206,258 529,252 170,521* 255,953, 21*5,105 170,382 39CU661+ 127,067 71,975 159,680 109,185 218,590 Bank premises 55,501- 1,269 8,257 5,159 5,200 .2,61*5 1,562 ; 3,01+6 1,976 1,211 2,1*56 801 1,719 Other assets 8i*,26ii. 5,652 17,922 5,595 7,623^ 6,01*9 i+,91+9 .I2;o67 5,285 2,705 - 1*,08I^ 8,072 TOTAL ASSETS 1*6,789,501* 2551,900 12,1*58,182 2818,351 3795,1+19 28l*l*,532 21*59,721*'777i+.700 2035,659 1215,327 2992,610 1673.9H 5189,029 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.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 101, 947 (In thousands of dollars) L I A B I L I T I ES Total-. Boston New York Phi la. Clsve.; Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 24.761,080 li|68,822 5.681,977 1683,829 2136,663 1753.888 l4o4,328 4628,367 1139.482 626,522 9^6.734 629,253 2661,215 Deposits: kiimber bank-reserve acct. 17.132.158' 745,042 5,325.166 811,182 1255.417 762.053 761,397 2557.686 662.376 438,343 830,347 852,6o4 2130,485 U.S.Treasurer-general acct, 933,611 68,577 ,201,265 81,773 82,766 5L257 55.888 100,987 70,548 60,622 50,923 52,070 56,915 foreign 5l6,904 • 28,926 y 210,177' 36,523 41.934 22.094 18,487 61,322 15.782 11,273 15,781 14,880 39.725 Other 474,736 ': -3.367 4o8,4o7 1,866 7,337 1.954 1,152 2.289 5.509 _ 1,239 1,911 1,545 38,160 Total deposits 19,057,409 845,912 6,145.035 931*344 1387,454 837,358 836,924 272^,284 754,215 511,477' "898,96?" 921,159 2265,285 Deferred availability items 2,234,807 190,048 4o?,583 144,ic4 203,312 216,130 167,263 3?4.672 114,486 58,020 119.481 97,453 197,255 Other liabilities including accrued dividends 20,665 1,286 5,975 1,356 1,911 1,H6 898 3,H7 870 553 857 733 1.993 TOTAL, LIABILITIES 46,Of3,96l 2506,068 12,235,570 2760,633 3729,340 2808,492 24o9,4l3 7678,440 2009,053 1196,572 1966,034 1648,598 5125,748 Capital paid in 194,851 11,230 '68,476 14,362 18,942 8,187 7,470 23,736 6,360 4,281 6,496 7,275 18,036 Surplus (Section 7) 439,823 27.557 136,549 34,720 4i,394 20,676 18,663 65,078 16,577 10,997 15,729 13,777 38,106 Surplus (Section 13"o) 27,455 3.012 7,253 4,489 1,007 3,325 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts 53,2l4 4,033 10,334 4,127 4,736 3,832 3,4i6 6,017 3,148 2,4o4 3,214 2,954 4,999 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 46,789,304 2551,900 12,458,182 2818,331 3795.419 2844,512 2439.724 7774,700 2035,659 1215,327 1992,610 1673,911 5189,029 Contingent liability on bills purchased for foreign correspondents 2,762 177.. £/884 224 257 135 113 375 97 69 97 91 243 Commitments' to make industrial leans -•-: 7,561 887 1,365 84 4oo 352 580 3,750 143 F. R. notes outstanding 25,500,660 1515,644 5,860,127 1733.177 2205.340 1794.454 1454,905 4716,927 1183,068 639,359 972,896 656,666 2768,097 Collateral for F. R. notes held by F.R.Agentsj Gold certificates l2.749.ooo-46o,ooo 3,570.000 550,000 715,000 675,000 675,000 304Q,000 515,000 200,000 280,000 169,000 2100,000 Eligible paper 154.183 • 10,123 39,180 6,640 — 20,465 — -- 18,375 1.950 12,200 45,250 U.S.Govt, securities 13.450,000 1100,000 2,4co,ooo 1200,000 1500,000 1150,000 800,000 1700,000 950,000 450,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AND?SECURITIES Within 16 to 31 to 61 to 91 days to • 6- months 1 tO rc 2 to \5 Over Total 15 days' 50 days 60 days 90 days 6 mont _ h _ s _ to _ 1 ye _ a _ r _ years years 5 years Discounts and advances 249,383 208,937 23,692 8,518 3,193 Industrial loans 4,490 4,420 29 1 2 4 11 23 Acceptances purchased 2O;0 ?90 U.S. Govt, securities 21,985,174 3,9?1,253 5,oo4,5i8 3,938,487 824,954 5,074,821 22,000 137,140 844,563 2.217, 438 1/ After deducting $306,612,000 participations of other Federal Reserve Banks. 2/ After deducting $1,878,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis