H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF -GOVERNORS OF THE FEDER. .L "REoShVB SYSTEM (Released for Publication Saturday morning, .February Iii,l9l4.8) Hjj.l February. 13, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS During.the week ended February 11 member bank-reserve balances decreased $il7>000,00CU;? Reductions in Member bank reserves at*ose from increases .o;f : $571,000,000in ,Treasury deposits with Federal Reserve Banks and $65;OQO,;OQO in : money in circulation, offJ#t* in part by an increase of $557>000,000-SnvReserve Bank credit and-a'decrease of $33*000,000 in nonmember deposits and other rF'<id£rai Reserve accounts* Excess? reserves^ of member 'banks on February 11 were estimated to pe ; approximately $910,000,000. •Holdings of loans, discounts .and advances increased $339*000,000 and United State's Government securities increased $29!;, 000,000. The increase in hold ings of United :States Government securities reflects increases of $330,000,000 in bonds, £59*000,000 'in certificates and f>31,000,000 in notes and a decrease of $126,000,000 in pills. . v Change's ir* ma'raber bank reserve balances and related items during the week 'and the year1 ended February 11, • I9I48, were as follows: Increase ori decrease s ince February 11, February!;, February 12, I9U8 I9U8 l$jrf (In millions ^of dollars) U So Orovernmenti ;&eeuriti%s 20,817 + 29k -2,986 # Loans., diiscounty 'and; advances "" 581 + "339 + 187 Other Reserve. Sank credit •. 3?li .- 77 - 107 Total Res-erve Baink credit 21,732 + 557 -2,906 Oold^stock' •'.. 22,933 - i +2,182 T1 £as-ury <c urreiicy * U,5b9 r ; 1 + 1 lumber bank reserve balances 17,037 «. hi +l,oii3 Ma-ey in- circulation 28,189 + 65 -' 157 AY^ inry cash' * . * , 1,3.08 - 1 -1,027 f Trev.s'.;ry deposits with;.F. . R«- Banks' IV187 + 571 - 52U Nonuember deposits and other F # R # accounts' 1,503 • 22 - 58 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.lul(a) OF THE TWELVE FEDERAL BEzEWE BANKS COMBINED (In thousands of dollars) Increase or decrease since February 11, February 1*, February 12, X9U8 191*8 191*7 A S S E TS Gold certificates 21,008,170 +3,228,995 Redemption fund for F # R # notes 690,3gl • 1,3Q0 - 103,795 Total gold certificate reserves 21,698,501 - 1,300 +3,125,200 Other cash 352,218 - 19,335 + 19,856 Discounts and advances . 577,780 +33-7,669 • + 181*,811* Industrial loans 2,760 + 771 + 2,123 U.S. Govt, securities:' Bills 9,1*68,1*1*1+ -125,977 -6,296,1*75 Certificates 1*. 31*6,333 + 59,250 < -2,582,951 Notes 1.59U,500 + 31,000;,; +1,239,200 Bonds 5,1*07,978 +330,189'1 +1*, 65I*, 588 Total U,S« Government. securities 20,817,2.55 +29U,1*62 ' -2,985,638 Total loans and securities 21,397,795 +632,902 -2,798,701 Due from foreign banks 95 7 F. R. notes of other banks 128,568 - 8,677 + 1,511 Uncollected items 2,566,925 - 69,705 + 167,113 Bank"premises 32,919 + "' '. ,2 + 603 Other assets + 6,771* + 95,093 il*o, 0.50 TOTAL ASSETS +51*0,661 + 610,668 U6,317,071 L I A B I L I T I ES Federal Reserve notes 2l±, 18l*,3l*8 + 36,263 - 220,876 Deposits: ; : i Member bank-reserve account 17,037,361 - 1*6,91*6 +1,01*3,556 U.S.Treasurer-general account '•'- -1,186,605 +570,511+ - 521*, 21*8 Foreign ' ' 1*1*2,069 - 63,581* - 83,773 Other , 502,260 + 33,757 + 90,579 Total deposits 19,168,295 +1*93,71*1 + 526,111* Deferred availability items 2,233,0l*8 + 6,832 + 27I*, 1*1+9 Other liabilities including accrued dividends l[|., 559 259 + 2,677 TOTAL LIABILITIES tf5,6o6"7250 +536,577 + 582,361* C A P I T AL A C C OU N-T S '• ..r '! Capital paid in j 197,159 + li*9 \ + 8,117 Surplus (Section 7) . 1*1*8,189 + 8,366 + 88 Surplus (Section 13b) I 27,5U3 + .3,935. +-, H,733 Other capital accounts . . . . ;.j 1*3,930 +5li0,66l + 610,668 TOTAL LIABILITIES iUSD CAPITAL ACCOUNT®. £6,317,071 Ratio of gold certificate reserves to deposit and F.R. note • - .6%. 7.0/o liabilities combined '• 50.1% Contingent liability on bills purchased' .". • •+• 38 -• 3,oiU for foreign correspondents ' ' l+»0l+9 Conimitmentsto make industrial loans 7,i9l* + 181* - 968 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

lUul(b) STATEMENT OF CGKDITiQMOF THE FEDERAL RE oEkVE BANKS ON FEBRUARY 11, I9I18 (In thousands of dollars)• A S S E TS Total, Boston New Yor.k Phila. Cleve Rich, Atlanta Chicago St>Louis - Minn. Kans.Cyy Dallas SanFran. # Gold certificates 21,(308,170 791.223 6,502,975 1006;313 1337,996 1005,024 l07U*76l i*U*8",l*3i* 5^7^29: ^8,515; 778,725 1*9^,179 2872,6914 ; Redemption fund for F. R. notes £90,331, 55,69^ 119.103 59*9**0 75,081* 59,220 [»o,07U ?9*h9k 146,527 22,808; :j 35*hm v-26,053 50,81*3 Total gold certificate reserves 21,698, §01.- 8^6,919 6,622,078 1066,253 11*13,080 106I±,2ii6 11114,835 U2li7,928 613,^56 1*51,323: 81l4,2ll* 520,232 2923,537 Other cash 352,218 37,395 58,652 20,1468 36,1491 2o,8i43 26,325 5k,692 17,jl71 8,6i*£ 11,597 \ 15,603 10*,039 Discounts and advances 577,780 17,618 233,766 35,103 53,1490 25,397 12,221* ll*l,385 18,995 3*&*5 7,;503 12,781 15,673 Industrial loans 2,760 ~ ~ 1,131 139 51 1,U39 -~ -- -^ '8> ~4: 4 — U, S. Govt •'"securities: Bills 9,l468,i*l4l4 636,508 2,270,361 676,327 907,739 6lU,920 l47l*,68i* 131*5,353 522,781 289,818 1*1*1,331* 1*29,099 859,520 Certificates 1*,3146,333 292,177 1,0142,172 310,1*59 Ul6,682 282,268 217,895 617,562 259,975 133,037 2o2,587 196,972 39^,51*7 Notes 1,5914,500 107,189 382,333 113,895 152,865 103,553 79,937 226,559 88,037 148,806 7U,321 72,261 ll*l*,7i*i* Bonds 5,1*07,978- 363,51*6 1,296,736 386,292 518,1*63 351,216 271,118 768,1*09 298,590 165,533 252,071 21+5,081* 1*90,920 Total U.S«Government securities 2p,8l7,255 1399^20 14,991.602 11486,973 1995,71*9.1351,957 101*3,631* 2957,883,11149,383 637^9*4 970,313 9h3M6 1889,731 ' ... ' •• ..i. • I.. -.... • • 1 -.- — . . •» 1 1 1 ... •• •; , -••• • ..," , , 1 .. . ,, ,„.,„ ,,.,,..„. , , ,,-f • a r , 1 Total loans: and securities 21,397,795 1U17,038 5,225,368 1523,207 201*9,378 1377,1*05 1057,297 3099,268 1168,378 61*1,039 977,816 956,197 1905,1*01* Due from foreign blanks ,95 .. . 6 1/31 a, , 9 5 . 1* 13 3 2 3 3 8 F.K. notes of other banks 128,568 '.5,365 19,521 5,1*70 5,1*01*. 31,090 .11*,077 13,892-:' 6,9l*8 -3,891 5,051 l*,9l*l* 12,915 Uncollected items . 2,566,925 205,211: 1*79,183 170,587 236,51*1 219,053 182.,63U 1*12,769 ;:i09»956 65,739 131*,61*5 118,1*02 232,205 Bank premise's 32,919 1,236 8,221" : 3,177 1*,925 ' 2,636 .,-i;556' '3;056 ' 1,968 1,206 "2,1M,. 793 1,707 Other assets 11*0,050 9,519 lfc,270 6,390" 6,287 13,031* 32,81*3 9,607 13,1*'58 9,389 ^7,18l* 19,999 •••• 8,070 TOTAL ASSETS 1*6,317,071 2522,689 12,14*5*897 2798,777 3759,286 272^,661 2lo3>9l2-7851,617 1926,350 1176,112 1952,^60 1622,1+61 5132,81*9 f l/After deducting $61*,000 participations of 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 FEBRUARY 11, I9I48 L I A B I. L I T I ES (In thousands of dollars) Total Boston Hew York Phila, Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas SanFran. Federal Reserve notes 21*,l8l*,5l+8 11*55,950 5,576,21*5 161*9,855 209b,61*1 1679,933 1562,722 1*566,790 1112,980 617,969 93U.939 602,1*57 251*9,891 Deposits? Liember bank-reserve acct. 17,057,561 752,611 5,555,1*62 819,81*5 121*6,51*2 71*8,179 760,671 2526,1*16 625,182 1*28,911 821,061 825,261* 2129.J4I7 U.S.Treasurer-general acct. 1,186,605 76,756 276,678 88,005 111,778 51,568 58,311* 21*2,531* 1*2,258 1*1,1*75 37,962 52,537 106,9U0 Foreign 1*1*2,06? 23,618 l/l87,7H* 50,278 5U,590 18,316 15,326 50,837 13,1*57 9.31*5 13,085 12,709 52,996 Other 502,260: 1,958 "" 1*52,1*21* 5,21*5 8,115 6,502 1,027 5,59k 5,825 1,731 909 597 56,537 Total deposits 19,168,295 8-5i*,9l*5 6,252,278 91*1,575 11*00,625 821*,565 85-5,558 2825,581 636,720 1*81,1*60 875,015 888,907 2505,690 -Deferred availability items 2,235,0l*8 185,179 591,571 li*8,87l* 196,581 185,079 17l*,66i* 562,215 99,256 57,185 117,286 10l*,857 212,525 Other liabilities including accrued dividends H*, 559 799 5,675 910 1,1*81 8 09 638 2,1*57 686. 589 581 592 1.-51*1* TOTAL LIABILITIES 1*5,600,ci50 21*76,875 12,225,765 271*0,990 5695,526 2688,386 2575,562 775l*,8l*5 1899,622 .11.57,201 1925,321 1596,813 5069.21*8 Capital paid in 197,159 ' 11,291 69,010 li*,l*90 18,905 8,355 7,680 25,970 6,1*50 l*,5l*0 6,61*5 7,562 15,1*63 Surplus (Section 7) 1*1*8,189 28,117 158,596'- 35,550 1*2,175 2i,2io 19,110 66,217 16,972 n,255 16,11*8 11*, 111 38,952 surplus (section 15b.) 27,5^5 5,011 7,519 -.1*,1*89 1,006 3,3U9 762 1,1*29 521 1,073 1,137 1.5C7 2,11*0 Other capital accounts 2,668 U.0l*6 1*3,930 5,397 7,207 " -5,1*58 5,876 5,561 2,998 5,158 2,785 2,265 2,711 TOTAL LIABILITIES iiMD CAPITAL ACCOUNTS 1*6,517,071 2522,689 12,1*1*5,897 2798,777 5759,286 272l*,66l 21*05,912 7851,617 1926,550 1176,112 1952,1*60 1622,1*61 5152,81*9 Contingent liability on bills purchased for foreign correspondents i*,0l*9 255 2/1,296 528 572 198 166 551 11*6 101 11*2 158 556 Commitments to make industrial loans 7,19U. 685 1,206 86 1*00 • 550 580 3,750 157 F. R. notes outstanding 25,085,659 1515,61*9 5,785,256 1712,921* 2176,056 1752,295 ll*07,ol*9 1*676,061 il6o,75l* 655,908 958,51*7 652,151* 2697,266 Collateral for F. R. notes held by F. R. Agents: Gold certificates 12,1*99,000 1*1*0,000 5,570,000 ' 550,000 755,000 625,000 675,0002790,000 515.000 200,000 280,000 169,000 2150,000 Eligible paper 265,186 9,515 . 190,890- 21*,1*27 — 18,789 — — ll*,250 550 2,890 1*,075 U.S.Govt.' securities 13 * 600, oo'o 1 loo, 000 2,1*00,000 1200,000 1500,000 1150,000 750,000 1900,000 95o>ooo 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS' AND SECURITIES Within 16 to 51 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 577,780 1*35,877 25Ti57~~ 1*1,206 79,085 -— Industrial loans 2,760 2,551 21 21 58 55 Li 20 l.S. Govt, securities 20,817,255 2,ii73,37l; 1,918,679 3,669,676 1,968,255 5,575,526 2,251,567 1*17,759 1*, 7i*U, 619 l/ After deducting $25l;,l8l*,000 participations of other Federal Reserve Banks. 2~/After deducting $2,755,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis