H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDBKAL RESERVE STSSTSfc (Released for Publicati.cn ^Thursday morrfirig, January 1/19^8') -HJul December 31** I9ii7 CONDITION OF THE FEDERAL RESERVE BANKS: During the period December 25*50, member bank reserve balances increased $6olj,000,000« Additions to.member bank reserves arose from increases of $371,000,000 in Reserve Bank crejrt, $11,000,000 in gold stock and $2,000,000 in Treasury currency and d3creases of $11*0,000,000 in money in circulation, $97,000,000 in Treasury deposits vil\zh Federal Reserve Banks, and $9,000,000 in nonmember deposits and othe;. Federal Reserve accounts, offset in part by an increase of $25,000,000 in Treasury cash*' Excess -reserves of member banks on December 30 were estimated to be approximately $1,590,000,000. Holdings of loans, discounts and advances decreased $136,000,000, while holdings of United States Government securities increased $716,000,000* The increase in holdings of United States Government securities reflects an increase of $970,000,000 in bonds and decreases of $167,000,000 in bills, $55,000,000 in notes, and $33*000,000 in certificates # Changes in member bank reserve balances and related items dtiring the period December- 25-30, l#i7, ancTthe year tended December' 36^ 19^7* were as follows* Increase or decrease since December 30, December 2k$ December 31* 19U7 19U7 ' l9U(y (In millions of dollars) U» S Government securities 22,616 + 716 - 73U t Loans, discounts and advances lli8 • 136 - 16 Other Reserve Bank credit 618 - 208 + 38 Total Reserve Bank credit 23,382 + 371 mm 711 •Gold stock 22,75U + 11 + 2,225 a Treasury currency. a, 558 + 2 • Member bank reserve balances 17,981 + 60U + i,ea2 Money in circulation 28,971 - 1U0 4- 19 Treasury cash 1.3U3 + 25 «• 929 Treasury deposits with F $« Banks 832 •» 97 + a39 # Nonmember deposits and other F,R # accounts 1,567 - 9 * 138 8i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

. STATEMENT OF CONDITION r QF'TUB TWELVE FEDERAL RESERVE BANKS'G (MB INED H*4.1(a) (In thousands of. del lars) I'" ; ' \ Increase or decrease since December 30, December 2l|, December 31, 19^7 . $ '.'•.•'" •• . 1. . 1 A.S S E T S Gold certificates 20,805,170' + 10,000 .v +' 3,217,995 Redemption fund for F # R, notes ^687,2li9 68 - 106,867 Total gold certificate reserves •21,J492,I;19 + 9,932 + 3,111,126 Other cash - 255,1269. •+ 11,868 12, .621 Discounts and advances ll+7,0l+7 - 135,739 16,032 Industrial loans ••: 1,365 76 + 815 U. S Govt, securities: # ' Bills •11,619^75 -.167,260 - 3,125,508 Certificates 6,839,605 - 32,650 - 656,1|07 * Notes 1,1+76,550 - 55,200 ' + 1,121,250 Bonds 2,679,965. ••970,370 + 1,926,573 Total U S«Government # securities ' 22,615/593 + 715,260 - 73li,092 Total loans and securities 22,76^,005 + 579,1+1+5 .- 719,509 Due from foreign banks 95 •- 7 F.R # notes of other banks 138,916 € 9,628 '• '•; - 211,1169 Uncollected* items 2,866,182 A 327,362 ..,\ "'; • 266,608 Bank premises 33,226 16 .+ 820 0the^r assets 113,680 + 12, 0I4.8 » 65,231 .TOTAL ASSETS 147,665,792 + 295; 5U3 -+ 2,657,379 L I A B I L I T r-E S Federal Reserve notes 2^„889,06b - 95,385 56,21*0 Deposits? Member bank-reserve account '17,98Ii126 + 6oU,il+l+ + 1,81+2,21*8 U,S Treasurer-general account 831,5Uo - 97,373 + 1+38,671 % Foreign : 1+25,359 - 35,658 82,157 Other" ^ , v' 5U2.-056 + 36,261 - + 228, it 18 ; : "Total deposits 19,780,531 + • 507,3714 + 2,1^27,180 Deferred availability items 2,2^8,205 - H9,lU7 + 228,309 Other liabilities including -accrued, dividends . 22 ,-28 5 + 12,893 TOTAL LIABILITIES •)|6,9liO,l35 +292,936 • + 2,612,11*2 C AP I T AL AC C 0 U N T S Capital paid in -\ 195,501 + ll+6 8,671 Surplus (Section 7)-, U39.-823 Surplus (Section lpb) 27,Ii55 Other capital accounts 60,878 + 2,li6l + 36,566 TOTAL LIABILITIES 4NP CAPITAL ACCOUNTS 1+7,663,792 t 295,5^3 + 2,657,379 Ratio of gold certificate* reserves to deposit and F R« note # liabilities combined Ij.8.1%' • !$ "'h*($/<> Contingent liability on bills purchased for foreign correspondents, ; • "j; 2,1+89 t %• r U,058 Commitments tro make -industrial loans 7*U5& ~ ^31 ' 853 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,i+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 50, 191+7 (In thousands of dollars) A S S E TS Total Boston New York Phi'la. Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cyy Dallas SanFran. Gold certificates 20,805,17?) 71*5,559 6,515,108 1006,789 1585,908 1022,718 998,792 1*506,150 609,021+ 1+26,817 7l*5,5l*7 1*87,61+1 2759,557 Redemption fund for - • • F. R. notes 687,2^9 56,152 120,919 60,707 75,717 60,1+95 1*0,51*5 90,101 146,701; 22,881+ 55,625 26,180 51.21+0 Total, gold certificate reserves 21,1+92,^19 801,671 6,l+5l*,027 1067,1+96 ll+6l,625 1085,215 1059,557 1*596,251 655,728 1*1*9,701 778,972 515,8212810,577 other cash 255,269 29,955 55,o26 12,157 2o,625 17,502 20,506 l+o,59l* ll*,857 6,966 9,1*80 11,522 56,719 Discounts and advances ll+7,Ol+7 10,905 52,185 10,1+1+6 8,212 7,09!* ll*,8l*5 15,557 11,571 1,265 8,9?1 1,670 6,528 industr-ial loans 1,565 - - - - 1,555 - - 50 - - U.S. Govt, securitiess *Jills 11,619,1*75 815,059 5,?il*,890 "812,271 1058,522 61*8,586 51*1,555 11*90,965 592,250 505,867 551,550 1*28,5251082,099 Certificates 6,859,605 !*1*1*,652 1,190,567 1*71,158 651,977 1*89,515 599,856 955,580 595,451 225,570 550,228 566,1*19 622,912 Notes 1,1*76,550 95,989 521,787 101,711 11*0,751 105,677 86,518 205,818 8l*,955 1*8,697 71,289 79,105 I5l*,i*75 BOnds 2,679,965 I7l*,222 56i*,050- 18l*,606 ,255,1*65 191,805 156,668 575,565 15l*,159 88,585 129,591 11*5,57l* 21+1+.075 Totaal U„S Government a securities 22,615,595 1529,882 5,711,29!+ 1569,726 2106,515 11*55,585 H8l*,555 5025,726 l221+,775 666,519 .1062,1+58 1017,1*19 2085,56l Totatl loans and securities 22,761+,005 151*0,785 5,765,1*79 1581,507 2lll+,727 11+1+2,507 1199,200 5057,285 1256,51*6 667,781* 1071,1*09 1019,089 2089,889 Due fr om foreign banks 95 „ .£ / 6 8 9 5 1* ll+ 1* 5 1* 5 9 x 2 F.R.no.tes of other banks 158,916 5,965 lZT,855 7,71*1+ 8,798 18,965 15,671-20,825- 9,52*1+ 7,1,1+5" 9,505- 5,ll*5 16,678 Uncollected items .2,866,182 269,521 669,096 212,628 282,997 257,151 151,851* 1*08,911* 110,270 62,90!* 11*6,281 100,296 21i+,l+70 Bank -premises 55,226 1,21+1 8,257 5,182 5,158 2,658 1,559 5,059 1»973 1,208 2,1+56 802 1,715 Other assets 115,680 -7,2o6 2l+,965 7,508 10,897 8,171 6,585 15,861 6,96!* 5,597 5,589 5,895 10,61+8 TOTAL ASSETS 1*7,665,792 2656,128 12,91+9,729 2892,010 590l+,856 2809,950 21+52,511+ 7922,581 2055,666 1199,608 2025,1+94 1656,571 5180,705 l/ After deducting $69,000 participations of other Federal Reserve Banks, v Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(c) STATEMENT OF CONDITION OF THE FEDERAL KEriEhVS BASICS ON DECEMBER 30, V)kl (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila, Cleve. Kich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas oant'ran, FederaliReserve notes 214,889,061; ll+8l+,568 5,771,1*37 1690,331; 2150,135 172+9,322 12+02,89!+ 4639,058 112+5,-967 62a;0.19 9u9,77l 628,1,38 2649,121 Depositst Member bank-reserve acct. 17,981,126 792,955 5,696,005 881,952 1325,779 776,715 781,1+88 2694,1+09 705,783 1+50,720. 857,597 858,858 2158,865 U.S.Treasurer-general acct« 831,-5l+0 70,1+1+8 197,2+82+ " 55,165 86,1+23 2^,802+ 6o,6!+7 107,1+85 • 1+3,629 37,599'- hk*h3l 38,71+3 1+1+,'682 Foreign 2+25,859 23,11*7 l/l80,522 29,209 33,535 17,669 ll+,785 "1+9,01+2 12,621 9,015 12,621 11,900 31,793 Other 5l;2,056 ^5H U59,1U1 2,1914 9,757 1,629 971+ 2,290 5,601 , 1,779/ 1,880 333. 50.1+21 Total deDosits 19,730,581 892,061 6,533,152 968,52011+55,1+9!; 81+0,817 857,891; 2853,226 ,767,631+ 1+99,113.' 916,529 910,380 2285,761 Deferred availability items2,2U8,205 231,811 1+1+131,31,+1+3322 117733,6,6QQ77 223300,3,35566 118822,1,11155 ll101+,O0,l0+13+ 3 3'23299,,776677 ^94,107- 525,12+,19+29. 2. 12192,399,359 5 91,192 179,886 4 Other liabilities including . ' , - '-' accrued dividends 22,285 , • 1,51+0 6,61+0 1,578 2,238 1,105 955 3,196 926 1,066 81+1 _82 1,825 TOTAL LIABILITIES 1+6,92+0,135 2609,700 12,722+,.66i 2833,839 3838,223 2773,359 21+01,766 7825,21+7 2008,631+ 1180,630- 1996,536 1630,867 5116,593 Capital paid in '"[ .... 195,501 11,21+3 ...68,880 ll+,370 18,81+3 8,221 7,51!+ 23,827 6,395 l+,29l+. 6,522 7,303 18,089 Surplus (Section 7) 1+39,823 27,557. 136,51+9 " 34,720 1+1,391+ 20,676 18,663 65,078 16,577 10,997- 15,729 13,777 38,106 Surplus (Section l^b) , 27V2i5t? 3,012 7^253 1+,1+S9 1,007 3,325 762 1,429 521 1,073 1,137 1,307 2,11+0 Other capital acco+ints •:. 66,378 4,556 12,566 4,592 5,369 l+,369 3,609 7,000 5,539 2,6ll+ 3,572 5.517 5,775 TOTAL LIABILITIES AND CAPITAL AqSoUFTS i+'7!,663,792 2656,123; 12,949,729 2392,010 590l+,036 2809,950 2432,514 7922,58l 2035,666 1199,608-2023,496 1656,571 5180,703 Contingent liability on bill's purchased for foreign correspondents i 2,2+89 157* 2/ 820 199 228 120 101 331+ 86 61- 36 81 216 Commitments to 'make industrial loans •'• .7,1+56' 1,61+2 77 l+oo '- 351 ' ;580 : „ -- 5,750 11+3 F. R. notes outstanding 2.5,69P,;910 .1536,106 5,915,762 17u6*208 2231,175 l80l+,9l+0 11+59,691+ 2+969,105 1188,01+9 61+2+,203 973,301+ 661,1+66 2766,393 Collateral for^F.ft.. notes held by F.fi.Agents: Gold certificates 12,769,000 460,000 3,570,006' 550,000 755,000 675,000 675,000 2990,000 3l5»ooo 200,000 280,000 169,000 2150,000 : Eligible paper '• 72,980 7,665 31+', 765- 7,060 - - 1+,615 - - - - 9,800 7,200 1,875 U.S.Govt securities 13,550,6.00 1100,000 2,l+bOjOoq" 1200,000 1500,000 1150,000- 800,000 1300,000 950,000 2+50,000 700,000 500,000 1000,00 .: ;;. ' "MATURITY DISTRIBUTION OF -LOANS AND SECURITIES •Within - 16 to ' 31 to 61 to 9I days to 6 months l t «2 2 to 5 Over T»tal. , 15 days" 30 days 60 days 90 -days 6 months to 1 year years years 5 years Discounts and advances' 12+7,02+7 102+,7l+2 * 10,12+8 2+,773 27,518 Industrial loans 1,365 1,325-V 1 11 23 U. S. Govt, securities 22,615,593.2,938,261 2,583,791 5,18l+,966 3*870,997 .2+,959,47i 191,133 2,272,730 I-/ After-deducting $21|5,208,0Q0 participations of ether Federal Reserve Banks* 2/ After deducting $1,669,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis