H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS .OF TlE^FSDEML:.'REoEhVS_ SYSTEM (Released for Publication Friday morning, March 2*6,19U8) H.I4.I March 25,19^8 CONDITION OF THIS FaDBRAL R^^SJANKS^ During the week ended March-2\\ member:bank reserve balances decreased $lj.81,0Q0 000t Reductions in,member bank reserves arose from increases of 1 $781,000,000 in Treasury 4eppsits with Federal'Reserve Banks, $11,000,000 in Treasury cash and:$15,000,000;in,nonmember deposits and other Federal Reserve accounts and-a decrea-se of. $2^0CK),000 in Treasury currency, offset in part by increases of $2142,000,000 in Reserve Bank credit and $16,000,000 in gold stock and a decrease of.$69,000,000 in money in circulation. Excess reserves of member banks" on-March 2k were estim&tj^d to be approximately 8720,000,000.' Holdings; of loans , discounts and advances increased $83*000,000 and of United States Government securities $2314,000,000. The increase in holdings of United States Government securities reflects increases of $129,000,000 in bills, $83,000,000,in certificates, $12,000,000 in notes and $10,000,000 in bonds. Changes in'member bank reserve balances and related items during the week and the year ended March 2I4, I9I4.8, were as follows? Iacrease or decrease since March 2\\ March 17, \ March 26, 9 J.9^8 Ig^ : , 1^47 (In millions of dollars) U. S» Government securities 20,607 + 23U - 2,203 Loans, discounts and advances 1.50 + 83 + •: 162 Other Reserve Bank credit 372 - 75 '--.. 17 Total Reserve Bank credit .- 21,ij29 + 2ij2 - -2,057 Gold stock £3,135 + 16 + 2,697 Treasury currency U,557 - 2 + l Member bank reserve balances: 16,870 _ 1*81 + 1,212 Money in circulation 27,851 - 69 - 319 Treasury cash 1,336 + 11 19 Treasury deposits with F,- E, Banks 1,1*58 + 781 - 11*2 ilonmember deposits and other E..R.accounts 1//07 4. 15 90 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

: STATEMENT OF "CONDITION: H.U.l(a) OF'THE TWELVE FEDERAL RESEkVE. BAlto COIvIBINED (In«thousands of dollars) Increase or decrease since Marioh 21*, March 17, March 26, 19U8 191*7 A S S E TS Gold certificates 2l,25ii,170 + 10,000 +2,8i*2,7l*l Redemption fund,for r'F R ; notes • 653,8li:0 - 2,631 - 156,251 m t Total gold certificate reserves 21,868,010 + 7,369 +2,686,510 Other cash ] J 353,0U6 - 11,261 + 55.551 Discouhts and advances "'• 1*1*7,1**7 + 85,81*5 + 160,531 Industrial loans 'j 3,1U7 - i*55 2,115 U« S* Govt* securities} Bills 8,79li,90l +128,500 -6,1*91*811* Certificates h,373,175 + 85,1*50 -2,ol*l*,l*l*5 Notes 1,736,200 + 12,100 +l,l*3li,l*oo Bonds ,5,652,858 + 10,155 +1*, 899,1*68 Total U, S, Government securities 20,607,131* +25l*,205 *2,202,589 Total loans ,.4nd securities.; 2.1,057,1*38 +317,595 -2,039.7h5 Due from foreign banks 95 - ' 7 F. R. notes of other banks 116,120 -5,678 + 5,1*08 Uncollected items 2,866,202 -570,599 + 1*02,098 Bank premises - ' 6' + 628 • 32,830 Other assets 155,1*1*0 + ' lr,8l9 + 91,511 TOTAL ASSETS i*;6,1*27,171 -260,761 + 1. 179.756 L I A B I LI T-v I E* 3 Federal Reserve notes 23,851,226 -; 83,061 311,626 Deposits: . v Member bank-reserve, jabcount 156,869,8^0 -1*80,789 >1 ,212,121 U»S.Treasurer-general, account , .1,1*58,070 +780,807 11*2,01*5 Foreign 510,671 - 11*, 682 52,392 Other 507,1*61* + 26,31*1* 93,785 Total deposits 19,51*6,095 +511,680 +1, 028,683 Deferred availability items , . . 2,1*91*,726 -l&k, 8 59 «f 1*19,198 Other liabilities including accrued' dividends 16,215 + 1,663 + 3.006 TOTAL LIABILITIES. 1*5,688,260 -261*, 577 + 1, 139,261 C A P I TA L A C -C; 0 U N T'S S Capital paid in- 197.71*7 1*7 6,868 Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section ljb) 27,51*5 + 88 Other capital accounts : 65,1*52 + 3,769 25,173 TOTAL LIABILITIES AND CAPITAL AC COUNT S* i 6,l*27,i7i -260,761 +1,179,756 4 Ratio of gold certificate reserves to deposit and F R.note # liabilities combined 50.6$; 5.1$ Contingent liability on bills purchased for foreign correspondents U,2l*p 181* U.513 Commitments to, make industrial loans 7,887 321* 323 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 14.1(b), STATEMENT : OF CONDITION OB1 THE FEDERAL RESERVE BANKS-ON M'ARCH. 24, I9I48 (In thousands of dollars) A S S E TS Total Boston New York'; Phila. Sieve. - Rich. Atlanta Chicago St.Louis Minn. .JCans.Cy. Dallas SanFran. Gold certificates 21,254,17.0 7614,598 6,701,0I4I 1041,209 1596,877 I049,06l 1086,:119 4o77:,476 562,7^5 -1*57,550 '.817,002' 512,11*8 2788,3Ui4 .Redemption fund for F.. R. notes 655,84"0': 55,585 71,135 58,71*3; 7ii,247 57,410 58,970 98,400 46,2i4 22,677'_ 35,225, 25,765 49,475 . i 'J ' ' ' ' ' • 1 .' : — : '•* - : Total gold certificate reserves 2i,868;-01C\ 820,185 6,772,176 1099,952 11471.121+1106,14711125,089 14175,876 608,959 1460,227 852,225.557,9112857,817 other cash; 555,046' 59,544 61,880 25,041 514,051 21,l+i47 21+,l+2o 56,089 H+,918 9.U02 11,447 14,51*3 142,1+814 Discounts'and advances 447,14-7 17,462 129,1+08 14,742 26,001 55,362 11,7614 161,305 13* 778 4, i75 17,007 5,159 12,986 Industrial loans 5,147 553 2ll+ 5I+ 2,566 -" --- — U.S. Govt; .securities: Bills ' :< •-. 8,7914,901 591,228 2,108,859 628,220 8li5,l67 571,176 1+140,915 121+9,650 [4814,709 269,205 [409,959 598,576 799,259 certificates 4,575,175 295,982 1,01*8,609 312,376 1*19,256 23u,012 219,21*1 621,575 21+1,1*57 153,859 205,858 198,137 596,985 Notes' ' 1,786,200 120,075 1428,299 127,588 171,2145 116,005 89,547 255,798 98,621 514,674 85,257 80,91+9 162,11+6 Bonds 5,652,858 580,008 1,555,1455 405,784 541,94o - 367,119 285,595 805,205 312,111 175,028 265,1485 256,182 515,150 Total U.S,. Government " * -1 ' securities 2o,607,131* 1585,295 4,94l,22o 1471,968 1975,606 1558,510 1055,098 -29285.026 1156,898.: 650,'7614 960,519 955,8914 1871,558 Total Toans and ' " ' " ' ' " securities- 21,057,1428 11402,755 5,070,628 11+87,21*5 2ooi,82i 1571,706 101*7,228 5089,529 1150,676 654,959 977,526 939,053 I88l+,52l* Due from foreign Panics ,95 6 l/ 51 8 .,9 5 1+ . 15 5 2 5. 5 8 F.R. notes"of other banks 116,120 .14,716" 18,551 -5.526 6,12!0 16,885 il,92U~ ' 'i^llt5* : ' 8,958 $,252 5',818 i*,776 15,711 Uncollected items 2,866,202 225,8146 555*766- r/4,228 280,831* 276,297 199,1+78 1+28,106 120,664 * 71,859 142,851 129,5-62 262,751 Bank premises 32,850 1,251 8,-2o2 j5,I71 4,909 ' 2,617 1,552 5,050 ' 1,965'" ; 1,20'5 2,1+1+0 789 1,701 : other assets 153,1*140 8,831 31,904 '9,151 12,645 8,749 6,783" - 18,909-- 7,668 4,103 6,222 '5,867 12,610 TOTAL ASSETS 46,427,171 2.500,912 12,519,^18.2802,i2o 3811,491 2804,175 2416,478 7785,517 1915,791 1186,967 1998,512 1652,504 5055,586 l/-After deducting $64,000 participations of other Federal Reserve Banks.. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.1*. 1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MaRCH 22;, 191*8 L I A B I L I T I-E S (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. Federal Reserve notes 23,831,226 iU2li,5U3 5,k6h,70Q 1635,1;81 2077.1*28 161*2,880 1351»61K> 1*528,519 1092.U51 615,556 922,511* 590,568 2506,966 Deposits; Member bank-reserve acct..16,869,89b 711*.670 5,1481,573 799,708 1237,236 738,767 727,792 21*811,625 599,1*96 1*08.717 805.617 796.967 20714,922 U.S.Treasurer-general acct. 1,1*58,070 72,915 236,270 115,232 155,358 126,651; 98,305 21*6,609 62,617 65,551 99,9l45 82,885 95,755 Foreign 510,671 28,620 1/202,565 56,709 1*1,69!* 22,207 18,561 61,655 16,315 11,330 15,862 15,409 39,9l4l4 •2,1425 "14*2,7514 1,772 7,5149 5,581 1.557 2,1*11* 5,1*56 Other _; 507,li62* 2.1*07 550 582 5I*, 657 Total 'deoosits 19,3146,095. 818,630 6,362,762 953,1*21 11*1*1,857 895,209 81*67235 2795,285 685,861* 1*88,005 921,972 895,61*1 221*5,256 Deferred availability items 2,!*9l*,726 209,500 1*60,518 "152,8514 222,511 229,1*69 206,216 559,055 108,858 65,281 125,721 118,895 256,290 Other liabilities including accrued dividends 16,213 966 l4,H9 982 1,777 865 755 2,750 701 527 611* 756 1,1*61 TOTAL .-LIABILITIES 1*5,688,260 21*55,659 12,291,899 271*2,718 57145,355 2766,423 236a,826 7635,567 1885,854 1167,369 1970.821 1605,838 i*989,953 Capital paid in 197,7147 11,501* 69,072 11*. 526 18.9a5 6.4IS 7,715 2l*,072 6,1*88 14,357 6,717 7,602 18,551 Surplus (Section 7) 14148,189 28,117 158,596 35,350 Ii2,l73 21,210 19,110 66,217 16,972 11,255 16,11*8 11*, ill 38,952 Surplus (Section 13b) 27.5143 ' 3,011 7,319 l4,!;89 1,006 5,3149 762 1,1*29 521 1,073 1,137 1,307 2,il*o Other "capital accounts 65,U32 !*,8l*l 12,252 5,037 6,011* I*.775 a,065 8,252 5,956 2,935 3,689 5,61*6 6,010 TOTAL ^LIABILITIES AND CAPITAL ACCOUNTS .. 1*6,1*27,171 2500,912 12,519,118 2802,120 3811,1*91 2S0l*,175 21*16,1*78 7785,517 1915.791 1186,967 1998,512 1652,50!* 5055,586 Contingent -liability oh bills purchas 3d for foreign correspondents . !*,2i*0 267 2/1,557 5U3 390 208 1714 577 153 106 ll*8 ilia 373 Commitments to make industrial loans 7,887 1,353 1,579 132 16 5W4 580 5.750 155 !•'. R. notes, outstanding 21*,735,815 11*89,580 5.709,707 1681,151 2l61*,052 1698,1*73 1382,116 1*615,21*5 1138,1*1*6 655,61*8 9149,705 625,265 2650,1*67 Collateral for F. R. notes held by F.R. Agents: Gold certificates 13,309,000 l*6o,ooo l*,l*?o,ooo 550,000 735,000 625,000 675,000 2730,000 515,000 200,000 280,000 169,000 2100,000 Eligible paper 11*1,951* ' 8,1*55 80,156 1*,520 — 26,355 — — 8,650 600 12,21*0 1,000 U.S.Govt, securities 12,650^000 1100,000 1,500,000 1200,000 1500,000 noo.'ooo 750,000 19UO,QOO 950,000 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF- LOANS AKD SECURITIES • vVithin 16 to 51 to 61 tO ; , 91 days to 6 months 1 to 2 2 to 5 Over Tdtal- - 15 days 50 days 60 days 6 months to 1 year years years 5 years 90 days Discounts and advances 1*1*7,314 7 309.H4I4 •59.555 51,630 9,659 12 3l4,187i Industrial loans 3,ll47 , 2,921, 23 I i!*6 k 12 20 :-2i: U. S. Govt, securities 20,607,1314 2, 601,581*:. 1,179.0714 2,282,987 5,561*,829 2,213,117 - 145L859 5081,985 5,251,699 l/ After deducting $508,176,000 participations of other Federal Reserve Banks. 2"/After deducting $2,885,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis