H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•'BOii^D pF ;(X)VE|$QR$ OF THE FEDERAL BEoEhVJB :• SYS-TBL {Released ' for Publication Friday morning, January 3-0# I9U8) &U.1 January 2o I9I4.8 # CONDITION OF THE "FEjEjERAL--HiSSERVB BANKS During the week ended January 28 member bank reserve balances decp?&sed $29*00b*000V- Reductions in member bank reserves arose from increases of •; $677,000,000 in Treasury deposits -.with;Federal Reserve Banks, and $9,000,000; in Treasury cash, offset in part by increases of '3ii31» 000,000 in Heserve Bank credit and £-65*000*000 in, gfcld sto^k'and.decreases pf $125,000,000 in money in circula tion..and. $35*000*000 in nonme'mber deposits and other Federal Reserve accounts. Excess reserves of Inember banks on January 28* were estimated to be approximately $1,059,000,000* i < I " Holdin-g^ lof 'loans,! discounts :and 'advances increased 0H2,dOO;OQQ and United States Government; securities increased $lU*7*000 000* The increase in'•hoick f ings of United States Goverximent securities reflects increases of $808,000,000 itis bonds and $U5/0.0;Q, 000 in noies and decreases of :.$230,©00,000 in bills and " ,.; $177,000,000 in certificates^ Changes in member !bank feserve balances- and- related items during the, weekand the. year ended .January 28, 191*8, were as follows s" Increase or decrease s ince January 28, rJanuafy 21,- January 29* ; 19U8 " 19U7 (In mi 1lions 0 f dollar! »•)! U. S, Government seburities •21,987 •-. 1,876. Loans, discounts'and advances • 283 •112 r! .'35 Other Re.serve Bank.predit 389 126 * ; 55 Total Reserve" Bank credit ;22,658 + 1*31 - 1,856, Gold stock > * , ."' " 22,89U 65 + 2,086 v Treasury currency . U.558 1 1 Member" bank reservejlpal^nces 17,305 29 < •*.1,181 125 Mor.3y in -circulation * - 28,08.6 • 179 Treasury cash."' > •'"• . .'>"• :, 1,332 + 9 - 993 Tr^a^wc f deposits w^th F«. : R* Banks , • 1,9^5 + 677 ' .• It09 Nonmember deposits dn$ ot&er F,,JR # accounittss i,Ui3 35 , !*• -.190 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION Hj*„l(a OF THE-TWELVE FEDERAL RE3ERVE 'BANKS. COMBINED % (lii thousands of "ciollars); Increase or decrease since January 28, January 21, January 29, 19^8 1.9U8 19U7 A S S E TS Gold certificates 20,965." 170 + 70,000' +3,135,992 Redemption fund for F. R. notes 691i082 - 1,881 - 106,638 Total gold certificate reserves 21,656,252 + 68,119 +3,029,3 5U Other cash 380,522 + ii,253 7,659 Discounts and advances 281,06U +112,71*9 - 35.830 Industrial loans • ' 2,001 868 + 1,1*5© U, S, Govt* securities: '•', Bills 10,0014,321 -230,1423 -5,569,897 Certificates 5,899.955 -176,600 -1,280,057 Notes 1.5U2,750 + l4ii,800 +1,187,li 50 Bonds k. 539,599 +808.1*5,5 +3,786,209 Total U. S. Government " *> * «.* securities 21,986,625 .+14146-, 210 -1,876,295 Total loans and ^securities 22,269,690 +558,091 -1,910,687 Due from• foreign banks 95" 7 F, R, notes of other banks 156,868. - 10,385 10,1400 Uncollected items >' 2,771.851 -507,597 + 366,696 ;Bank premises 32,966 31 + 623 Other assets ." - 13.7,1459 + 1J4.213 + 814,896 TOTAL ASSETS li7,Uo;5,703 +126,663 +1,568,1314 L I A B I L I T I ES Federal Reserve notes 2U,159.085 -118,938 - 230,175 Deposits: Member bank-reserve account 17.39U.922 - 29,533 +1,181,1402 • U.S.Treasurer-general account i,9Wi,667 +676,61il + 1409,1149 Foreign U05.775 - 18,739 - 273.170 Other 1482,036 - 6,523 + 11*0,128 Total deposits 20,137,1*00 +621,8146 +1,1457.509 Deferred availability items „ . 2,383,li05 -380,729 + 312,068 Other liabilities including accrued dividends 16,256 + 69I + 14,926 TOTAL<LIABILITIES 146,696,1146 +122,870 •+i,5uli,328 C A P I T A L, AC CPU N T ,S , Capital paid in / : 196,901 " +' ' • ..9oU • + 8,317 Surplus (Section 7) I4I48,189' '.-:•- I-1;, + 8,366 Surplus (Section 13b) 27,5143 . „ '""+ 88 Other capital accounts „''• 36,9214 + 3,289 + 7,035 TOTAL LIABILITIES AND CAPITAL ACCOUNTS U7»iio5.7b3 +126,663 +1,568,1314 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 'hB.9% - iW 5.7% Contingent liability on bills purchased for foreign correspondents 3,1*51 * 500 3,132 Commitments to make industrial loans 7,-OUo 160 1,2014 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

;H.!ul(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 28, I9I48 {In -thousands of do 1lars) A S S E TS Total- Boston'- New York Phila. -Cleve, Rich. Atlanta Chicago St.Louis Minn, KanS.Cy, '! Dallas SanFran. Gold certificates 20,965,170 7314,909 7,110,828 935,1U*9 1261+.231+ .91*8,961 v102i,^2l+ 1+058^75 596,231 1+69,762: 750,5145 1493,6149 2681,805 Redemption fund for F. R. notes ; 691,082! 55,830 119,661 60,178 ; 75,271* 58,236; 1*§,2>17 99,677 14-6,581+ -'.22,827 35,533 26,091 50.97U Total gold certificate ________ 21,656,35- 790,739 7,230,1*89 993,627 1359,508 1007,1^7 1062,lia i+138,552 _42,815 1432,589 766,076 519,71402732,779 Other cash 380,522 35,795 62,1+72 23,965 55,328 26,193 29,11+7 57,^66 18,530 9,631 114,885 17,356 1*9,656 Discounts and advances 281,06U 19,235 56,096 l{+,2[*2 2l+,286 18,129 22,1+1+8 29,21+1+ 27,1+1+1+ 18,880 22,118 12,767 16,175 Industrial loans 2,00. - - - - 1,3142 139 32 _88 - - - - :; U. 8, Govt, securities: Bills lo,ool+,32l 656,1+81+ 2,1+50,313 7iU,6o6 959,nl4 61+9,723 501,5148 11427,893 1489,985 506,221 1+66,3H 1422,1+62 959,661 Certificates 5,899,955 396,618 l,l+ll+,702 i+2i,i*3l+ 565,629 383,167 295,782 838,3114 325,7514 180,591 275,003 267,380 535,581 Notes 1,5U2,750 103,710 569,9214 110,199 1147,903 100,192 77,51*5 219,206 85,180 1+7,222 71,909 69,916 ll*o,ol*6 Bonds U,539.599 305,170 1,088,515 3214,265 1435,211 29l+,82o 227,581; 61+5,022 250,61+5 158,955 211,595 205,750 1+12,091 Total U.S.Government securities 21,986,625 11+61,982 5,525,1+514 1570,502 2107,857 11*27,902-1102,257 3130,1435 1-51.56!* 672,987 I02l+,818 965,1*88 201+7,379 Total loans and securities 22,269,690 11+81,217 5,579,550 1586,086 2132,282 ll+l+6,o63 1125,193 3159,679 1179,008 691,867 101+6,936 978,255 2065,55*4 Due from foreign ianks '95 6 1/31 8. . : .9 5 h . 13 3 2 5 3 8 F.R. notes1of other banks 156,868 6,120 22,1+39 '8,022... 7,978 32,5614. H+,61+2 16,865 9,628 5,632 9,012 •6,196 17,770 Uncollected items 2,771,85- 216,165 519,136 168/061% 283,138 "•-239.5-5. 171,5H "J*2jS,-Q56 126,519 80,105 169,020 120,122 252,877 Bank premises 52,966 1,236 6,259 .3*176 14,925 ' 2,637, 1,556 -5,061 1,973 1,209 2,-1*50 797 1,707 Other assets 1*,186 6/181* 6,268 12,665 137.1*59 9,263 32,681 9,399 l'3Vl4l"6 8,857 7,056 > 19,557- 7.967 TOTAL ASSETS 1+7,1405,703 251+0*539.13,255,057 2792,5142,5816,611+ 2765,031 21*11,030 7821,529 1986,21+5 1225,219 2011*,566 161+8,757 5151,016 l/After-deducting $6J+.,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,liilCc>: STATEIpNT QF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 28, I9U8 L H B I LI T I BS : (In thousands of dollars) ""' 7*"'. 'Total Boston New York Phila. Cleve, Rich. Atlanta "Chicago St.Louis Minn.. Kans..Cy.. Dallas SanFran, Federal Reserve notes _24,159,085 1427,-4|2 .5,579,002 l6ii3,237 2093,609 1683,^69 1365J;688 4553,3.85 1115,909 615,589 932,427 606,314 2543,024 depositsj " -. • • • ". "' ••• M.ember bank-reserve acct., 17,30ljf,922 765,'356 $,&;56,468 842,652 1285,863 742,-249... 7 51,585: 2 595,585 641,4l5 437*575 831,808 827,697 2128,891 U" ^"S" .-Treasurer-genera"l a cot.•1,944,667 85,317 1,'3" 09,"3"8 7 ~7~5 ,~2 90 103,227 71,722,.: 75,764';-152,756 67,972 73,028 69,426 73,236 88,542 FFoorreeiiggnn 405,775 r 21 ,'810 1/170,978 27,953 31,749 16,910- 14T149' 46:, 934 12,424 8,628 12,078 11,733 30,429 Other 482,036 '3,-218 *" 408,615 2,015 10,255 6,130 • l>4l6 2,867 .;; 5,923 l>745 679 349 38,824 :•• Total deposits, 20,157,400 • 875*701 7,545,448 947,890 1431,094 837,011 840J14 2797,140 727,734 520,976 913,991 913,015 2286,686 Deferred avaiilbility items 2,583,405 -I9IVI87 , iio6,22l 142,959 224,875 205,^2.6'* 173V708 372>592 115,548 69,119 l4l,256 103,443 236,891 Other liabilities including -accrued dividends :16,256 8S2 3,787 956 i,747 896 759 2,679 745 830 636 718 1,621 -'.TOTAL LIABILITIES -46,696,146 2495;202 i'5,034,458 2735,042 3751,325 2727,202 2380,869 7725,596 1959,936 1206,514 1988,290 1625,490 5063,222 Capital paid in - 196,901'• 11,285 '68,968 14,466 18,895 8,334 7,66o 23,935 6,445 4,339 6,613 7,-504 18,459 Surplus (Sectibn 7) •• '448,189 2g,H7 138,596 35,350 42,173 21,210 19,110 66,217 16,972 11*233 16,148 14,111 58,952 Surplus (Section 13b) 27,543 • 5;0ll 7,519 4,489 1,006 5,349 762 1,429 ; 521 1,073 1,137 1,307 2,140 Other capital accounts •.36,924 '2,924 -.5,696 2,995 -3,215 2,936 2,629 4,154 2,569 2,06o 2,578 2,525 5,245 CAPITAL ACCOUNTS . 47,405,703 2540,539 15,255,057 2792,542 58.16,-614 2765,051 2411,0507321,529. 1986,245 1225,219 2014,566 1648,757 5151,016 Contingent liability on bills purchased. for foreign'correspondents 5,4'51 217 ;" 2/ 1,104 280 318 "169 142 469 124 86 121 117 504 Commitments to' make industrial loans 7,640. .: - - 496 i,?75 75 575 551 580 5,750 140 F. R. notes outstanding 25,251,670 1520,557 5,809,826 1724,;170 2188,153 1747,364 1418,800 4704,246 1170,518 656,158 964,022 641,015 2727,065 Collateral f or! F.R* notes, held by F^R.Agents: "; Gold certificates 12,-599*06.0. 460*000 5,570,000 550,000 755,-opo ':675,l0oo" 675,000.2720,000 515,000 200,000 280,000 169,000 2050,000 * Eligible paper ,. 114,517 12,255 : 20,065 5,267' ---: ; "i 12,700 - - - - 25,455 16,110 18,240 6,425 vUiSiGovt.- securities 13,750,00b 1100,000 •2,400,000 1200,000 1500,0001150,000 800,000 2000,000 950,000 450,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within {. 16 to 31 to ^61 to 91 days^ to 6 months 1 to 2 2 to 5 Over Total 60 days 90 days^ 6 months *to 1 year yerrs years 5 years 15 days "- 50 days Discounts and advances 281,064 45,188 ••,,70,857' ' 45 -* 14 Industrial loans 2,001 144,562, 20,620 21 ---l . 21 . 65- . 50 mm m 1 m 1 .25 U;3. Govt* securities 21,936,625 :3- , , oi 5 1 , , 7 81 9 0 3 2,587,864 3,699,832 2 r ,861,444 5,571,276 2,126,917 576,055 3,947,466 : l/ After deducting $254,668,000 participations of other Federal Reserve Banks. 2"/After deducting $2,547,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis