H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for publication'Friday morning,December 19,I9U7) Hilu'l December 18, I9JU7 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 17 member bank Reserve balances increased $i4i9jOOO,000 . Additions -to member bank reserves arose from decreases of # $318,000,000 in Treasury deposits with Federal Reserve Banks and $i|i|,000,000 in nonmember deposits and Jother Federal Reserve accounts and increases.of $121,000,000 in Reserve Bank credit and $15,000,000 in gold stock, offset* in part by an inc-rease of $[J9,'00Q,000 in ,money in circulation. Excess reserves of member banks am December 1J were estimated to be" approximately $1,200,000,000, Holdings of loans, discounts and advances decreased $51,000, 000, and United ; States Government securities, decreased $328,000,000. The decrease/irf holdings of United^States Government, securities feflects decreases of $367,000,000 in bills, $13l4-#000,000 in'certificates; and $19,000,000 in notes, and an increase of $192,000,000 in bonds;"- Changes in member bank reserve balances*and related items during the week and the year-ended December X]. 19^7/ were as follows j s Increase #r decrease since December 17, December 10, December 18, 19U7 . 19^7 19^6 (In millions cf dollars) U S» Government securities 2L ,•657 - 328 -1.. ,551* # Loans, discounts and advances 173 - 81 - 131 Other Reserve Bank credit 908 + 530- + 9h Total Reserve Bank credit 22; ,738 + •121 -1 ,590 Gold stock 22, ,723 + .15 +2,, 21±6 Treasury currency h.. 557 + 1 + 3 Member- bank reserve balances 17: ,581 + hh9. +1., o6U Money in circulation 28, ,923 + h9: - 96 Treasury cash 1., 332 + 1'. -. 876 Treasury.deposits with F«R Banks 616 - 318; + 379 f 'Nonmember * deposi ts and other'' F' 'R accounts 1,, 566 - hh + 187 # # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION . OF THE TWELVE FEDERAL i&JfiRVE BANKS COMBINED (In thousands of dollars)1 H.lul(a) Increase or decrease since December 17, December 10, December 18, 19U7 19U7 . 19U6 A S- 3 E T 8 .. ' : Gold certificates 28,786,170 + 19,000 +3,196,992 Redemption fund for F. .R.i notes 682,667 - 1,217 - 111,069 Total gold certificate reserves 21,1*68,837 +: 17,783 +3,085,923 Other cash 250,107 - 2,237 - i 742 Discounts and advances 168,^15 - 80,968 - 134,538 Industrial loans 4:, 435' - ' 5 + 3,906 Acceptances purchased 12 278 + 12 U. S.Govt. securities: Bills 14,832,116 -366,900 -2,773,161 Certificates 6,889,605 -134,000 - 557,407 Notes 4,1481,750 - 19,000 +1,126,459 Bonds 1,1|03,826 +192,023 +, 650,436 Total U.S.Government securities 21,657,297 -327,877 -1,553,632 Total loans and securities 21,830,209 -409,128 ' ' -1,684,302 Due from foreign* banks 95 - w 7 F.R. notes of other batiks 129,083 + 12,365 4,318 Uncollected items 3,846,062 +1,233,871 + 560,688 Bank premises 33,28V 17 746 Other assets 92,171 + 7,907 + 44,169 TOTAL ASSETS 47,649,848 + 860,544 +2,002,157 L I A B I L I T I ES Federal Reserve notes 2k,822,907 + 61,827 - 140,274 Deposits: Member bank-reserve, account 17,581,259, + 449,101 . +1,064,473 U.S.Treasurer-general account 615,901 - 317,710 + 379, Of4 Foreign 469,440 - 47,464 - 56,529 Other 481,248 * 6,512 +- 237,281 Total deposits 19,147,848 ,+ 90,439 +1,624,319 Deferred availability items 2,939,187 •+ 703,380 + 466,513 Other liabilities including .accrued dividends 22,792 + 2,127 + 7,993 TOTAL LIABILITIES _ 46,931,734 + 857,773 •1,958,551 C A P I T A L A C C' 0 H I T S' Capital paid in 195.047 196 + 9,4o4 Surplus (Section 7) 439,823 - _ + 81,468 Surplus (Section 13b) 27,455 - «. + 27 Other capital accounts 55,769 + 2,575 - 47,293 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,649,848 + 860,544 +2,002,157 Ratio of gold certificate reserves to deposit and F.R. note liabilities combined -48.6fc •235 Contingent liability on bills purchased for foreign correspondents 2,523 239 3,920 Commitments to make industrial loans 7,739 178 592 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 DECEMBER 17, I9I+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 20,786,170 755,065 6,515,202 990,682 1582,1+01 1056,128 1013,559 l+2ll+,393 596,919 1+29,716 733*637 503,016 2819,651; Redemption fund for F. R. notes 682,667 56,197 121,225 60,826 75,812 58,999 1+0,595 86,189 1+6,750 22,895 55,661 26,205 51,357 Total gold certificate reserves 21,1*68,837 789,260 6,l+5l+,l+27 1051,508 11+58,215 1115,127 1053,952 1+500,582 61+5,61+9 1+52,609 769,298 529,2212870,991 other cash 250,107 28,606 1+1,291 12,11*6 17,890 15,212 2o,U58 56,81+6 12,906 6,619 9,370 12,719 36,061+ Discounts and advances 168,1+15 12,1+92 57,766 8,569 11,597 6,51+5 15,752 15,868 ll;,925 7,71+5 20,995 10,815 5,552 Industrial loans l+,l+85 - - - - l,hbk - - 3k 3,007 Acceptances purchased 1 2 -- 1 2 -- -- - - -- -- -- -- -- -- - - U.S. Govt, securities! Bills - 11,882,116 8l+8,53U 3,578,l6o 851,899 1085,751 665,01+1+ 555,51+0 151+7,1+86 592,777 511,552 5^,565 l+U+,85l 1108,597 Certificates 6,889,605 1;U5,799 1,1+81,699 1+69,551 655,521+ 500,099 1+07,175 969,051+ 1+02,816 251,136 552,155 576,915 619,676 Notes 1,1+81,750 95,1+1+8 518,670 100,987 li+0,98i+ 107,556 87,571 268,1+21 .86,655 1+9,710. 71,1+51 81,06k 135,275 Bonds 1,1+03,826 '90,1+29 501,911 95,676 155,570 101,900 82,966 197,1+61 B'2,077 1+7,096 67,671+ 76,800 126,266 Total U.S. Government' securities 21,657,297 H+78,2io 5,1+80,1+1+0 11*98,113 2013,809 l57l+,599 H33,252 2922,1+52 H6t*,303 639,271+ 1015,603 91+9,628 1987,61!+ Total loans and securities ~ 21,830,209' 11+90,702 5,518,218 1508,126 2025,1+06 1581,178 1152,011 2935,520 1179,226 61+7,019 1056,596 960,1+1+1 1992,966 Due from foreign-tanks-. 95 '••£ 1/ -:2& ! 8 9 5 1+ Hi 1+ 3 k 5 9 F.R. notes of other banks 129,085 l+,776 T8,882 6,612 7,252 15,558 13,307 18,365 8,518 5,31+9 8,?l+3 5,152 18,789 Uncollected items 3,81+6,062 507,691 762,652 265,1+56 575,211+ 552,157 262,790 617,575 185,058 93,272 185,569 11+5,381+ 297,1+8!+ Bank premises 55,281+ 1,269 , 8,257 5,17l+ 5,168 2,61+5 l,56l 3,01+6 1,976 1,211 2,1+56 801 1,720 Other assets 92,171 9,057 18,9Q1 5,690 8,277 6,21+8 5,252 •, 12,766 • . 5,559 2,866 l+,518 . l+,869 8,388 TOTnL ASSETS 1+7,61+9,81+8 2651,367 12,802,631+ 2850,720 5,995,1+29 2885,890 2509,295.7927,511+ 2056,896 1208,91+8 2016,551+ 1653,590 5226,1+11 1/After deducting $69,000,participaticns--*f other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l*.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 17, I9I47 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St..Louis Minn. Kans.Cy, Dallas SanFran, Federal Reserve notes 211,822,907 11*71,950 5,710,358 l63l*,5l*2 2150,529 1757,991 lii07,965 1*635,099 llU5,06U 626,71*0 9^7,750 629,552 2651*, 579 Depositsj Member bank-reserve acct. 17,531,259 779,1*55 5,5ll*,l*i*6 81*9,779 1509,702 758,1*05 783,661 259^,009 659,575 U5l*,592 860,098 851*,219 2l77,li38 U.S.Treasurer-general acct.6^5,901 1*7,1*1*2 177,001* 36,632 63,116 38,200 38,625 87,369 22,li03 28,980 26,099 29,539 2o,i*7i* Foreign k(9,kkQ 26,230 1/191,272 35,121 30,020 20,036 16,765 55,610 11*,312 10,223 ii*,5l2 13,1*9U 56,029 Other 1*81,2I4O h,h33 1*00,931* 2,229 7,232 2,128 1,007 5,591 6,527 1,599 775 756 1*2,257 Total deposits I9,ll;7,8ii8 057,568 6^291,736 921,811 11*10,153 018,01*9 01*5,050 27140,579 702,017 1*95,202 "902,00U 877,738""2275i 198 Deferred availability items2#38,187 25L.,535 569,091 185,187 250,1*26 271,535 22U,9li9 1*51,01*1* 161,1*62 67,6U6 139,091* 125,.030 230,100 Other liabilities including accrued dividends 22,792 .1,261 8,11*9 1,300 1,909 1*510 O67 5,171 01*0 • 529 786 775 1,315 TOTAL LIABILITIES 1*6,931,751* 2505,522 12,579,551* 2792,81*0 3829,102 20l*§",635 21*78,839 7330,693 20l5",l33 "1190,117 1939,69** 1&55.11* 5 5162,780 Capital paid in 195,01*7 11,231 68,1*92 114,570 13,950 6,202 7,1*95 25,766 6,392 !*,285 6,502 7,295 10,071 Surplus (Section 7) 1*59*325 27,557 156,51*9 31*, 720 1*1,391 20,676 10,663 65,070 16,577 10,997 15,729 13,777 30,106 Surplus (Section 13b) 27,1*55 5,012 7,255 1*,1*89 1,007 5,525 762 1,1*29 521 1,075 1,157 1,507 2,11*0 Other capital accounts 55,789 U.2U5 11,006 U.301 1 ,976 1*,002 5,550 6,51*8 5,223 2,1*76 5,292 3,060 5,511* 4 TOTAL LIABILITIES AND " ~ OAPITAL ACCOUNTS 147,61*9,31*8 2631,367 I2,002,63i4 2350,720 3395,1*29 2885,090 2509,295 7927,3ll* 2036,096 12oo,9l*0 2016,351* 1650,590 5226,1*11 Contingent liability on bills purchased for foreign correspondents 2,523 162 2/ 007 20l* 235 I2I4- 101* -51*5- 00 63 83 03 222 Coiiimitments to make industrial ~" loans 7,759 - _ - - 79I. 1,612 .73 1*00 352 500 5,750 11*3 F. R. notes outstanding 25,603,14OO 1526,11*1* 5,902,283 1730,1*03 2222,209 1002,375 U 57>i*13 1*756,022 1132,223 61*0,6o6 972,738 656,59'2 2773,592 4 Collateral for-F.R. notes held by F.R.Agents: Gold certificates 12,739,000 i*6o,ooo 3,570,000 550,000 725,000 675,000 675,000 3070,060 3H0O0 200,000 230,000 169,000 2100,00( Eligible paper 85,170 , 9,9^5 23,555 5,51*5 -- 1*J595 -- -- 15,550 6,750 19,600 - - 1,85< U.S. Govt, securities 13,1*56,000 1100,000 2,1400,000 1200,000 1500,000 1150,000 800,000 1700,000 950,000 1*50,000 700,000 500,000 1000,001 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 to 51 to 61 to - 91 days to 6 months 1 to 2 2 to 5 Ove r Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advanceD 168,1*15 152,170 22,810 8,365 5,052 18 20 Industrial loans 1*,1*35 I*,!*!*!* 1 2 1* 11 25 Acceptances purchased 12 12 U.S. Govt, securities 21,657,2^7 2,770,71*1* 5,156,901 1*, 820,2140 It, 109,211 671,651* l*,961*,82l 157, 51*0 1,026,136 ;l/'After deducting $278,052,000 participations of other Federal Reserve Banks. .2"/After deducting $1,716,000 participations of other Federal keserye Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis