H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for, Publication Friday morning,' April 9, 1948) il.4.1 April 8, 1948 CONDITION OF THE FEDERAL RESERVE.BANKS During the week ended April 7, member bank reserve balances increased $266,000,000. Additiqns to member bank reserves arose from decreases of v 1832,000,000 :in Treasury deposits with Federal Reserve Banks and $3,000,000 in nonmember deposits and other Federal,Reserve accounts, and an increase of $11,000,000 in gold:stock, offset in part by a decrease of $522,000,000 in Reserve Bankjcredit and increases of $53,000,000 in money in circulation and 04,000,000 in Treasury cash. Excess reserves of member banks on April''-7 \/ere estimated to'be approximately $710,000,000, Holdings of loans, discounts and advances decreased $170,000,000 and of United States Government securities $410,000,000, The decrease in holdings of United States Government securities reflects decreases of $380,000,000 in bills and $137,000,000.in certificates aiid increases'of $76,000,000 in bonds and $31,000,000'in rfbtesr > • Changes in member barpc reserve balances and related items during the week and the year ended April 7, 194SV, were as' follows: Increase or decrease since April 7,< March 31, April 9, 1948 1948 1947 (In. millions of dollars) U» S. Government securities; .20,477 - 410 - 1,799 Loans, discounts and,advances 264 - 170 11, Other Reserve Bank credit 343 + 56 + 5 Total Reserve Bank credit 21,085 _ 522 - 1,303 Gold stock 23,147 + 11 + 2,650 Treasury currency 4,558 - 1 1 Member bank reserve balances'? j/ Ct 905 + 266 + 971 Honey in circulation j 27 833 + 53 ;- U7 Treasury cash ' 1*329 + U 7 Treasury deposits with F. R. Banks I'l^O - 332 + 337 Nonmember deposits and other F,R, accounts .1/58/ - 3 90 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE (BTiSLVE "FEDERAL RESERVE* B.AH KS' COMBINED H*U»l(a) (In thousands of dollars) Increase or decrease since April 7, March 31, April 9, J$llB' 19U8 19U7 A S S E T; "S Gold certificates 2l/2ii9,170 + 20,000 +2,750,996 Redemption fund for F»R*, note§ 636,6U5; - 12,196 - 122,800 Total gold certificate preserves + 7,«o4 +2,628,196 Other cash .533,'^ „ - -26,, 511 + U9,766 Discounts and advances ' 260,621+ -169,351+ i6,657 Industrial loans 3,603 182 + 2,545 U, S, Govt, securities? Bills 8*14-71,551 -379,550 -6,891,1+84 Certificates' 4,344,293 -134,882 -1,1463,1425 Notes 1,91^,300 • + 30S90P +1,562,500 Bonds 5,71+7,214.3: +;.75»866 ;+4,993,853 Total U»S, Government securities 20,1477,387 -1+09,666 -1,798,556 Total loans and securities 20,74l,6l4 -1,812,668 Due from foreigh banks 95^ -: 7 F,R, notes of other banks 112,107: - 8,232 +: 13,994 Uncollected items 2/502,989. -236^06: •V 20l+,525 Bank premises 32,737s '- ..".V + 586 Other assets 139,568. •+. 99,210 + •• 2,200 TOTAL ASSETS U5,7U7,969 -840,534 +1,183,602 ^ L I.A B I L I T I B'S Federal Reserve notes 23,787,083 + 19,1+1+1 -• 383,037 Dep os its: Member bank - reserve account 16 ,"P 05,1(22 ,-<+266-;7'03; + 971,738 U.S.Treasurer - general account 1,^59,628 - -831,978 +; 386,271 Foreign i+97,757 + 12,209 -; 2,984 Other 1+95,^92 - 17,881 - 36,1462 Total deposits i-9,03S;679;'' —57oW9ii7.-T* ,31:5,563" Deferred availability items 2,159,780:' -'-293,280 + 199,474 Other liabilities including accrued dividends :. ! 16,319, + 392 + 3.477 TOTAL LIABILITIES 45*001,861. -8144,39^ +1,138,477 C A P I T AL A Q C Q. U N T S ' Capital paid in 197,8l4 + 47 +; 6,729 Surplus (Section 7) 1+1+8,189 + 8,366 Surplus (Section 13b) 27,543 + 88 Other capital accounts 72,562, + 5,813 + 29,9142 TOTAL* LIABILITIES AND CAPITAL ACCOUNTS' 45,747,969 -8i40,53^ +1,183,602 Ratio of gold certificate reserves to deposit arid FJR. note 51 A% -+ -iji',4 $»i% liabilities combined ,.* Contingent liability on;bills purchased for foreign correspondents 3,884 - 250 -j 4,208 Commitments to .xaake; industrial loans 7,679 - - a •* ' ^29 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(b) STATEMENT" OF CONDITION ,OF TEE FEDERAL RESEkVE- BANKS ON APRIL 7, I9U8 (In thousands of dollars) A S S E TS Total .Boston _• New York Phila. Cleve. 'Rich. Atlanta Chicago St.Louis liinn." Kans.Cyv ., Dallas SanFran. Gold certificates 21,214.9,3.70: 8ii+,805 ••6,811,381 1029,866 1373,099 101+0,553 1085,387 4023,o45 600,1+22 1+20,303- 775,836 494,166 2780,307 Redemption fund for F. R, notes 656,645' 55.471 70,675 58,532 74,ll4 56,585 38,863 103,25k 16,172 22;66l~ 35,194 •• 25,736 49,388 Total gold;certificate reserves 21,885,815 870,276 6,882,056 1088,398 lljl+7,213 1097,138 112l+,250 1+126,299^ 61+6,594 1+1+2,964 811,030 519,902 2829,695 Other cash ,.,., .._ 333,Qhk- 38.606 60,737 2i,7ii6 32,896 19,538 23,676 50,592 12,921 8,865 9,670 12,977 4o,820 Discounts and advances 260,62k 21,1+62 61+, 361+ 17,133 26,758 17,249 9,ll4 58,523 6,638 3,975 10,495 6,849 18.C64 Industrial loans 3,603 1+63 2ll+ i+o 2,886 U. 3, Govt, securities: Bills : .' ' 8,471,551 569,492 2,031,325 605,123 812,168 550,176 1+24,704 1203,706 4S7,74o 259,306 394,867 385,922 769,022 Certificates 4, 3^,293 292,01+0 l,ol+l,683 310,312 1+16,488 282,136 217,792 617.272 239,861 132,975 202,492 196,679 394,363 Notes l,9 r 4,5P0 128,687 459,015 136,739 183,521+ 124,322 95,970 271,99? 105,694 58,595 89,227 86,754 173,774 Bonds 5,747,243 -386,353 1,378,085 1+10,526 550,988: 375,21+9 288,127 816,614 317,323 175,917 267.885 26o.kq 521.717 Total U.S,Government securities '20.k77.3fi7-l?76-»57S 4,910*108 lidSS.Tpo 1963,168 1329,883 1026,593 2909,5911130,618 626,793 954.471 928,oi4 1858,876 Total loams- and securities 20,74l,6l4 1398,034 4,974,472 1480,296 1990,140^1347,172 1038,595 2968,114 1157,256 650,768 964,966 934,863 1876,940 Due from foreign banks S3 > •* : 6 « V 31 8 . -9 5 ,4. ».!; A3 : 3 .. =2 3 3 8 F.R. notes of other banks 112,107 ;' 4,563 17,045 7,028 6,677 15,745 10,968 .14,760 7 ; ,284 4,9|2 5.451* '4,814 12,840 Uncollected' items 2,502,989--: 248,866 '495i 103 178,404 .229,409' 208,687 -169*72? 3§5»C02 10X,474 56,5% 126,368 107,5^ 219,768 Bank premises ; 32,737 - 1,227 s,im 3,145 v-.-'-£,899 .2,617 1,549 :•.§,&£ --1,961 * 1,201 2,455 785 1,694 Other assets 139,568 9,431 9,394 7,008' "19,676 -17,968- 4,545 6,531- 6,155 12,993 33,218 9,554 13,297 TOTAL ASSETS 45,747,969 :2571.009 12*,l+7o;8l+6 2788,579 3724,540 2700,296_2375,775 7557*588 1921,1+61 1149,62$ 1926,452 1587,059 4994,758 ~l/ After deducting, ^>4,0f)0 participations j>f otter Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.i*.l(c) STATEMENT OF CONDITION OF THST FEDERAL RESERVE tfAWKS va APRIL 7, tyUS 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 23,787,085 1423,409 5,457,568 1626,250 2069,870 1635,851 1327,412 4519,277 1091,674 614,347 924,041 591,347 2506,037 Deposits: Member bank-reserve acct. 16,905,422 743,896 5,465,306 817,504 1246,606 738,130 768,872 2435,691 622,108 403,211 788,858 796,362 2078,878 U.S.Treasurer-general acct.1,139,628 113,140 296,301 93,450 98,887 71,823 67,876 110,481 59,585. 51,541 57,476 56,118 62,950 Foreign 497,737 28,368 i/l92,136 36,385 .41,327 22,011 18,417 61,091 16,171 11,230 15,722 15,273 39,606 Other 495,892 2,307 427,203 1,717 7,963 6,956 584 2,522 5,932 2,478 1,110 577 36,543 Total deposits 19,038,679 887,711 6,380,94-6 949,056 1394,783- .838,920 855,749 2609,785 703,796 468,460 863,166 868,330 2217,977 Deferred availability items2,159,730 211,104 399,154 152,344 189,423 186,400 159,868 304,803 96,926 46,474 110,608 99,696 202,980 Other liabilities including ; accrued dividends 16,319 1,008 4,248 1,037 1,609 937 736 2,686 756 521 64I 659 1,481 TOTAL LIABILITIES 45,001,861 2523,232 12,241,916 2728,687 3655,685 2662,103 2343,765 7436,551 1893,152 1129,802 1898,456 1560,032 4928,475 Capital paid in 197,314 11,305 69,099 14,541 13,949 8,425 7,716 24,079 6,488 4,353 6,720 7,603 18,531 Surplus (Section 7) 448,189 28,117 138,596 35,350 42,173 21,210 19,110 66,217 16,972 11,233 16,148 14,111 38,952 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 72,562 5,344 13,916 5,512 6,727 5,204 4,422 9,312 4,328 3,160 3,991 3,986 6,660 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,747,969 2571,009 12,470*846 2788,579 3724,540 2700,296 2375,775 7537,503 1921,461 1149,626 1926,452 1587,039 4994,758 Contingent liability on bills purchased for foreign correspondents 3,884 245 2/i,243 315 357 I90 159 528 140 97 136 132 342 Commitments to make industrial loans 7«o79 75 — 1,241 1,418 123 16 341 580 — 3,750 — 130 F.R. notes outstanding 24,639,516 1482,781 5,690,087 1670,011 2154,977 1691,205 1373,715 4602,548 1133,773 636,597 947,303 619,777 2636,742 Collateral for F.R. notes held by F. R. Agents,; Gold certificates 13,209,000 460,000-4,470,000 550,000 735,000 625,000 675,000 2630,000 315,000 " 200,000 280,000 169,000 2100,000 Eligible paper 52,564 11,823 15,329 4,740 • - 9,652 — — 1,130 150 5,140 — 4,600 U,S.Govt. securities 12,750,000 1100,000 1,500,000 1200,000 1500,000 1100,000 750,000 2000,000 950,000 450,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LCAKS 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 260,624 130,601 46,732 13,924 69,246 60 11 — — — Industrial loans 3 ^3 3,371 23 21 21 131 4 12 20 — U.S. Govt, securities 20,477,387 1,887;,865 1,025,031 3,151,669 5,664,676 '• 2,259,417 860,450 — 546,244 5,081,985 1/ After deducting 0305,456,000 participations of other Federal Reserve Banks, 2/ After deducting 0 2,641,000 participations of other Federal Reserve B?nks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis