H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOciHD 0? GOVERNORS OF TiS FEDERAL RRSBRVS SYSTEM (Released for Publication Friday morning, February 27,19^8) H.U.1 February 26, 19^8 CONDITION OF TUB FEDERAL RSSERVB BARKS During the week ended February 25 member bank reserve balances increased $1;9,0Q0,000. Additions to member bank reserves arose from decreases of $69,000,000 in Treasury deposits with Federal Reserve Banks and $9,000,000 in Treasury cash and an increase of $U7> 000,000 in gold stock, offset in part by a decrease of $75*000*000 in;Reserve Bank credit* Excess reserves of member banks on February 25 were estimated to be approximately $850,000,000* Holdings of loans, discounts and" advances decreased Slo,000,000^«nd United States Government securities increased $91,000,000. The increase in-holdings of United States Government.securities reflects increases of $81,000,000 in bonds, $68,000,000 in notes, and $i7,000,0p|) in certificates and a decrease of $76,000,000 in bills. Changes in member bank reserve balances and related items during the week and the year ended February 25, I9ij8, were as follows- • Increase or decrease since February 25, February 18, February 26, 19u8 19?J8 19U7 " -^",n ' ' r " ' " (In millions of dollars) U. S. Government securities 21,0314 + 91 - 3,oio Loans, discounts and advances 233 - 16 - 110 Other Reserve Bank credit 390 - 1U9 + 65 Total Reserve Bank credit 21,70? -. 75 _ 3,05k Gold stock 23,023 - + hi ,.;.+ 2,706 Treasury currency U,557 ' m, - + 1 Member bank reserve balances 16,799 + h3 + 1,018 Money in circulation 2B.05U •f 1 - 208 Treasury cash l,;^o - 9 - 55 Treasury deposits with F. R* Banks 1,656 - 69 - 716 i\ionmember deposits and other F.R. accounts 1,158 + 1 • .- 3SU Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT 'OP CONDITION H.l*.l(a) OF THE TY-ELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) • Increase or decrease since February 25, February 18, February 26, I9lj8 19U8 19U7 A S S E TS ' Gold certificates' '£l,096,170 +60,OOCr •+2,805,990 Redemption fund for F . R. notes 680,01*9 -,2,406 - Ill*,828 # : Total gold certificate reserves 2.1,776,2,19 +57,591* :' +2,691,162 Other cash 367,^80 - •, 275 .+ 30,170 Discounts and advances 279, &9 -16; 108- •'•- 113,100 Industrial loans^ k, 3(53 + 195 3,359 U.S. Govt, securities: Bills , 9,282,853 -75.750 -6,392,262 Certificates 1*, 362,083 +17,150 -2,823,701 ftotes .1,721,350 •+68,3,50. +1,292,550 Bonds 5,667,050 +8-1,025 ' +1*, 913,660 Total U.S. Government securities "~ *" 21,033,836 +9P,775 s -3,009,753 Total loans and securities 2.1,317,338 +71*1,862' •-3,119,1491* Due from foreign banks 95 «p «k 7 F. R. notes of other b^nks 126,905 - 6,120 + 5,657 Uncollected items 2,796,358 -1*72,526 + 295,681* Bank premises 32,891 21* '. + • 622 Other assets 150,232 + U.703 + 101,222 TOTAL ASSETS 1*6,567,918 -31*1,786 + 5,016 L I A 5 i l/l T/I E S^ Federal Reserve notes 21*, 065,1*95 - k,nk - .21*1*, 513 Deposits: >: f Member bank- - reserve account 16,799,290 +1*9,297 ,+l„018,133 U.S.Treasurer -^general account 1,655,975 -'69,1*51* - 715,810 Foreign hke,161 '+ 27,839 - ' 36,1*96 Other 1*52,355 - 25,727 - 280,628 Total deoosits"' 19,356,381 -..'18,01*5 11*, 801 Deferred availability Iterjs ;; 2,iio6,37U -323,21*1*' + 230,133 Other liabilities- including accrued dividends 15,61*7 - . 26 3,265 TOTAL LIABILITIES 1*5,81*3.897 -315,1489 - 25,916 C A P I T AL A C- C 0 U N T; S i Capital paid in 197,381* + 128 + 6,676 Surplus (Section 7) U*8,189 _ _ - + • 8,366 Surplus (Section 13b) 27,51*3 . '.- . .'" + 88 Other capital^ accounts, 50,905 + • 3,575 "+ 15,802 TOTAL LIABILHIES AND, C A? If A L ACCOUNTS 1*6,567,916 -311,786 !+ . 5,016 Ratio of gold certificate reserves to deposit and P.R note # liabilities combined- 50.2^ 6.5% Contingent liability ok bills purchased for foreign correspondents It, 987 + 211*. >,85l* 7,910 691: 279 Commitments to m&ke industrial loans Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

iUuJCfe). STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAHKS ON FEBRUARY 2% I9I48 (In thousands of dollars) A S S E T S Total Boit&n Hew York -Phila* *Cleve„. Rich* Atlanta Chicago StJLouis Minn. Kans,Cy Dallas SanFran # # Gold certificates 21,096,170 863,"3i59 6,527,757 1060,280 I390,2ii0 1017,I8I4 ioi*3,307 14138,313 fyilhk2 l*2l*,o25 752*li9l 1496,3002791,172 Redemption fund for F. R # notes 680,oli9 56,olr5 113,525 59,333; 714,735 57,660 59,500 98,967 li6,36ti 22,756 35,328 25,885 1+9,951 Total gold certificate reserves 21,776,219 919,^0^ .6,61*1,282 1119,613 lU61i,975 I07li,8i;li 1082,807 i|237,2B0 637,806 IM^Sl 787,819 522,185 28li 1,1^23 Other cash 367,830 38,^03 • 67,19*4 25,01*9 35,U68 22,721* 2l*,759 5li,0?2 18,223 8,735 13,781* 15,356 lili,113 Discounts and advances 279,lli9 22^011 61,836 18,228 29,752 2o,813 22,915 51,295 10,255 5,095 10,153 11,718 15,078 Industrial loans 14,353 - - - - 909 20U 1;6 3,19*4 U«S* Govt, securities: ; Bills 9,282,853 621*,032 2,225,861 663,073 889,9^7 602,866 1*65,378 1318,981 l;93,^li 28li,138 1*32,683 1*20,6^0 861,560 Certificates 1;,362,Q83 293,236 1,0145,9*49 3H,58l4 J4l8,i93 283,291 218,685 619,799 2^0,8^ 133,519 203,32i 197,685 395,977 Hotes 1,721,850 115,750 1412,869 122,992 165,071* m,82Ji 86,321 2UU,65U 95,o68 52,7014 80,257 78,033 156,30U Bonds 5,667,050^380,962 1,358,856 l4Ql4,79? 5^3,300 368,ol*l 28I4,106 805,220 312,895 173,1463 261*,U7 256,825 51l4,J458 Total U«S« Government securities 21,033^36; 11413,980 5,01*3,535 1502,^6^2016,5114 1366,022 10514,1490 2988,6514 11142,1451 61*3,821* 980,ii08 953,233 1928,279 Total loans and securities 21,317,338 11*35,99* 5,105,371 1521,583 20^6,1*70 1386,881 1080,599 3039,9*49 1152,706 ^8,919 990,561 9614,951 19^3,357 Due from foreign banks 95J 6 l / jl 8 9 5 14 13 3 2 3 3 8 F^R^notes of other banks 126,905; 5,360 2^,l9k 6,036 6,935 25,057 13,5144 13,83l4 8,112 3,286 6,122 ^^817 13,608 Uncollected items 2,796,358= 236,112 593,118 189,618 261,025 209,633 177,855 U9k*930 108,271 62,858 .1141,799 120,058 201,085 Bank premises 32,89r 1,231 8,221 3,177 14,921 * 2,621* 1,5514 3,350 1,969 1,206 2 Uhh 793 1,701 9 Other assets 150,232 10,155 35,721 10,21*1 11*,51*9 9,951* 7,589 21,335 8,572 U,527 6,872 6,7U3 13,97U TOTAL ASSETS 146,567,918 261*6,662 12,1*71,132 2875,325 38314,350 2731,722 2388,711 7861*,!*63 1935,662 1176,311* 19^9^014 16314,906 5059,267 1/After deducting $6i±,000 participations of other Federal Reserve Banks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.li.l(c) STATEMENT OF CONDITION OF THE FEDERAL REoERVE BANKS ON FEBRUARY 25, I9U8 L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. Federal Reserve notes 2U,o65,!+95 11*39.116 5.552,555 1&5.790 2088,536 1666,779 1551,221; 14555,593 1105.U25 615,985 950,700 598,21*7 2555,91*7 Depositst Member bank-reserve acct., 16,799,290 752,lil9 5.25U,81Ii 810,980 1251,089 71*0,127 7l+l+,2l+5 25^5,068 658,068 1*25,1+09 820,01+6 811*,0lt9 20l+l+,978 U.S.Treasurer-general acct, - 1,655., 975 181,702 1+08,251; lii7,728 172,580 85,116 81,550 2oi+,220 50,605 50,155 1*1,855 70,871* 161,558 Foreign 1+1+8*761 23,725 1/I93,2lt8 50,1*16 5!+, 51*6 18,1+00 15,595 51.068 15,518 9,588 13,11*2 12,767 55,11*8 Other 1*52,355 2,679 "" 582,719 1,550 8,610 7,961 1,056 2,178 7,087 2,266 185 576 55^688 Total deposits 19.556,581 91*0,525 6,259,055 990,1*71* 11*1*6,825 851,601+ 81+2,021+ 2802,531; 709,276 185,213 8/5>228 898,266 2275,372 Deferred availability items '2.^06,371* 219,919 1+71,61+1+ 179,791* 250,816 175,758 163,871 1+05,980 93,165 55,14-61 115,891 111,712 182,565 Other liabilities including accrued dividends 15,61+7 81+6 l*,5Ql* 956 1,691 818 683 2,556 651* ML _2L5_ 687 1,1+00 TOTAL LIABILITIES 1+5,81*3,897 2600,1+06 12,2i;7,338 2816,991+ 3767,668 269l+,959 2357,802 7766,663 1908,520 1157,159 1922,391* 1608,912 1*995,082 Capital paid in 197,581+ 11,29!; 69,011 ll+,52l 18,907 8,572 7,695 2li,018 6,1+80 1+.355 6,682 7,583 18,1+70 Surplus (Section 7) 1+1+8,189 28,117 158,596 55,550 1+2,175 21,210 19,110 66,217 16,972 11,233 16,11+8 ll+,lll 38,952 Surplus (Section 13b) 27,51+5 5,011 7,519 1+.1+89 1,006 5,51*9 762 l,i+29 521 1,075 1,157 1,307 2,1^0 Other capital accounts 50.905 5.831+ 8.868 3.Q71 L.«5Q6 3.832 3.3lili 6.136 3.16Q g,l*96 5,Oli3 2,995 kJ£3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+6,567,918 261+6,662 12,1*71,132 2875,325 5851*.550 2731,722 2388,711 7861+,l+63 1935,662 1176,51!* 191*9,1*01+ l65l*,906 5059,267 Contingent liability oh bills purchased for foreign correspondents 1*,987 511* 2/1,596 1+oli li59 21+1+ 20l+ 678 179 125 175 170 1+59 Commitments to make industrial 1 oans 7,910- 908 1,656 155 1+00 51+1* 580 5,750 — 157 F. R. notes outstanding*" 21+.957,859. 1507,652 5,766,526 1698,629 2170,^6 1720,801 1398,607 1+656,1+25 1150,811+ 655,276 951*.688 627,721; 2670,271 :-Collateral for F. h. notes held by F.R. Agentst < Gold certificates 12,1+99,000 1+1+ 0,000 3,570,000 550,000 735,ooo 625,000 675,000 2790,000 315,000 200,000 280,000 169,000 2150,000 Eligible paper 62,355 13,078 11+,350 6,71+2 13,715 5,150 1,550 5,190 2,600 U.S.Govt, securities 13,600,000 1100,000 2,1;00,000 1200,000 1500,000 1150,000 750,000 1900,000 950,000 1+50,000 700,000 500,000 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 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 279,11+9 11+2,261+ 31,81+0 51,179 53,755 95 20 Industrial loans 1**555 1*,105 21 25 169 1* 12 19 U. S. Govt, securities 21,055,856 2,811,757 1,921,012 3 5 , , 0 0 1 1 + + 2 2 , , 2 29 9 7 7 2 2 , , 0 0 7 7 1 l+ + , , 5 5 l 1 + + 7 7 5,555,776 2,1;1;8,867 1*17,759 l*.96i*,0l+l l/ After deducting $255,3^0,000 participations of other Federal Reserve Banks, 5/ After deducting $5,591,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis