H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BO/vRD CF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, April 16,I9U8) H.U.I April 15, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS *""•' •"*• •lining • I^II. 11,.. n • ,!..,•»— •• ,1.1. • 1.1. .11 *«, m, i.» During i:he week »ende& ikpril llj. member bank reserve balances increased $l]45,0d0,000^ Additions to member bank reserves arose from increases of $1^5,000,000 in Reserve Bank credit and $5*000>000 in gold stock and decreases of $59,000,000 in money in circulation, $9,000,000 in Treasury cash, and $65,000,000 in nonmemberi deposits;and other Federal Reserve accounts, offset in part by an in crease of $37,000,000 in Treasury deposits with Federal Reserve Banks» Excess reserves of member banks on April ll|. were estimated to be approximately $870*000,000* Holdings of loans, discounts and advances decreased $Ul,000,000, while holdings of*United States Government securities increased $116,000,000* The in crease in noldings of United States Government securities reflects increases of $88,000,000 in bonds, $17,000,000 in bills, and $12,000,000 in notes, and a decrease, pf $2,000,000 in certificates* Changes in member banjc reserve balances and related items during the week and the year ended April II4, l9li8, were as followsj Increase or decrease since April lli, April 7, April 16, 1948 19US 1*7 (In millions of dollars) U t S # Government securities 20/593 + 116 -1,312 Loans, discounts emd, advances 223 ~ ill + 121 Other Reserve Bank credit .• 3*3. - 3°.. - 15U •1 Total Reserve Bank credit 21,130. + \b -1,M Gold s$ock 23,152 H- 5 +2,569 Treasury currency U.558 - - - - Member bank reserve balances 17,050 +, 1^5 +1,063 Money in circulation 27.77U - 59 - 389 Treasury cash 1,320 - 9 - 12 Treasury deposits with F. R t Banks 1,177 + 37 + 56U Konmember deposits and other F R accounts 1,519 - 65 1 0 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BTA^f JfT 0F: CONDITION ,0F THE TWELVE ^FSpERAL IPSEWS *?MKS 0;,(fcaiNED H.2ul(a) (In tJicJusarids of doliirs) Increase or decrease since April Ik, April 7, April 16, I9U8 I9k8 19V7 A S S E T'S Gold certificates 21,259., 170 + 10-, 000 +2,633,993 Redemption fund; foi\ F*R- # ;not§s^ 633,69U .- 2,951.. - 87,015 Total gold certificates reserves 2l,892,861i +2,:5l*6,978 Other cash 31*3,087 .. + "10,(13 + .51*, 620 Discounts and advances 221,260 ;- 39,3614 + 120,796 Industrial loans 2.U91 ,- 1,112-, :+ -.1,389 U. S.Govt. securities? Bills 8,lj,88,951 + iTifioo- ••6,551,396 Certificates li, 31+2,793 - 1,500 -1^16,925 Notes .1,926,550 •+ 12,250 +1,^,750 Bonds 5,835,069 + 87,826 +5,08;,679 Total U» S» Government securities 20,593,363 +115,976 -1,311,892 Total loans and securities 20,817,1L'4 ..+ 75,500 -1,189,707 Due from foreign banks *- 95 7 F. R«] notes of pther banks ioii,io6 , -. 3,601' .+ 6,521 Uncollected items 3,076,197 .+573", 203 + 137,737 Bank premises 3?,731 3 + 533 Other assets ,. ; H*l*,535 ;+ 14,967, + 102,6149 TOTAL ASSETS " 1*6,1*10,732 +662,763 +1,659,371* L I A B I L I T I ES Federal Reserve notes 23,72lt;l95 .'•- 62,888. • ?6l,i35 r Depositsi Member bank-reserve account 17j, 050,351; •:+ il4l4,932 +1,062,9.86 U.S T:reasurer«*general account • 1,177,026 + 37,398. + 5.63,538 # Foreign " hk&;h& r 1*9,255' •+ .52,686 Other ..;- .15,6pU': - -'3,057 U80,288 Total deposits +117,1471 +1,:676,153 ; 19,156,150 De ' f ' e •"" r <*, r "" e <* d • avai " l ''— a bility items : '4,763,155 +603,375 + 2.91,860 Other-, liabilities including accrued> dividends if;572 ;'t ;l 1*,850 TOTAL LIABILITIES U5,661,072 ,+659,211 fl,oil,728 C A P I T A L- AC C-,p;U NT S II., . ii .1,1 .IIHWI III.. > •• . .Ill ..•.«,» MM UN. «•••••• ..j... M III.I^ |l.ij|l ^ 197.J8U1 •+ 27: i - 6,678 Capital paid in; Ui&i189 + 8,366 Surplus (Section 7) Surplus (Section 13b, 27,51*3 + 188 Other, capital accounts , _ 76,087 .,-,+ 3,525 + -:32,511* TOTAL; LIABILITIES AND CAPITAL ACCOUNTS ' ^6,1410,732 .+662,763- .+1, "659,3714 Ratijp-' of gold certificate reserves to deposit and F R. note # liabilities combined 51.1# U.6PS Contingent liability on.bills purchased for foreign correspondents • 3i586 •298: 1*,*42 9 Commitments to make industrial loans 7,71*1* ' 65" 6I4O Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.iul(b) STATEMENT OF CONDITION Qp THE' FEDERAL RESERVE BANKS ON A^RIL ![;, I9I48 (In thousands of dollars) "' • •• A S S E TS .. Total Boston New York Phila. Cleve; Rich. Atlanta flhijpago St•'Louis Miiin.j Kans.Cy, Dallas SanFran. r Gold certificates 21,259,170 829,362 6,757,805 loie,863 1393,971 1029,111 1055,1*35 Ul23,21? 571,033 1*17,896; '761,166 1*88,578 2812,733 Redemption fund for F t R # notes 635,69U 55,331 69,981* 58,282 73,938 55,1*90 38,723 103,033 1*6,126 " 22,6^3* ; 3:5,152 25,699 1*9,273 To'tdl gold certificate reserves 21,892,8$* 881*,693 6,827,789 1077,11*5 11*67,909 1081*, 601 £09!*, 158 1*226,270 617,159 1*^0,539 796/318 51^,277 2862,006 Other cash 3143,087 39,753 66,703 20,103 36,232 20,177 25,101 1*9,336 12,591* 8,588 -9,801 10,977 1*3,722 Discoun&s and achrances 221,260 20,51*7 72,103 17,013 214,723 12,711* 9,711* 24 008 - 5,986 3,975 9,385 3,576 15,51i* Industrial loans 2,1^91 - - - - 1*68 21U k6 1,763 .^ - - - - ^ U* S Govt, securities: # Bills 8,1*88,951 570,661 2,035,1*98 606,366 813,836 551,306 1*25,577 I2c£,178 1*68,700 259,838 395,678 38l*,7H 770,602 Certificates 1*,31*2,793 291,91*0 1,01*1,323 310,205 1*16,31;!* 282,038 217,717 617,059 239.778 132,928 202,1*23 196,812 39^226 Notes 1,926,550 129,510 1*61,952 137,61U 18l*,698 125,118 96,581* 273,71*0 106,371 53-970 89,798 87,309 17l*,886 Bonds 3,835,069 392,257 1,399,11*5 1*16,799 559,1*08 378,953 292,529 829,093 322/172 178,606 271,978 2&*,1*39 529,690 M 1' — - _ _ — _ — _ _ _ _ _ _ _— _ —__ Total U.S. Government securities •:20,593.363 13811,368 i*,937,9l8 11*70,981* l97l*,286 1337,1*15 1032,1*07 2926,070 1137,021 630,342 :959,§77, 933,271 1869,1*0!* Total loans and securities 20,817,111; _UoU,9l5 5,010,021 lU88,i*65 1999,223 1350,175 10l*3,88l* 2950,078 111*3.009 63l*,317 969,262 938,81*7 186l*,9l8 Due from foreign banks 95 6- - -1/31 8 9 5 1* -13 * 3 •'•- 2 3 3 8 F.R. notes of other banks I0l*,l06 i*,592 1S,227 1^,686 6,133 15,208 9,631 ll*,033 5,8,07. 1+,1*1*9 5,751* 1*,1*02 13,181* Uncollected items 3,076',: 197 266,325 610,1*31 201,022 306,812 259,1U3 208,101* '1*95,1*50 138.1*58 '70,601* 15l*,158 131,709 233,931 Bank premises 32„73l* ',. 1,227 8,181; 3,11*5 li',896 2,617 ' 1,3*9, 3*0U2- 1,961 1,201 2,1*33 785 1*69^ Other assets lhh,5$5 9,685 3l*,56o 9,873 13,760 9,806 7,226 2o.,398 8,223 2*,1*86 6,801 6,1*05 13,312 TOTAL ASSETS ;li6,l*-l0,732 2611,196 12,573,91*6 280l*,UU7 383l*,97l* 271*1,732 2359,657 -7758,620 1927,211* 116!*, 186 l9l*l*,530 1607,1*05 5052,825 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.Q.l(c) STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON APRIL 14,1948 L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. : Federal Reserve notes 25,724,195 11*25,806 5,a57,S84 1622,612 2064,181 1627,662 1520,970 4522,0.00' 1088,lllj. 611,55a 918,961 589,144 2497,327 Deposits; ' . :i Member bank-reserve acct. 17,050,35a 726,175 5,524,032 799.672 1282,051 721,875 758,55a 2516,845- "615,818 415,365 788,856 802,7522093,565 U.S.Treasurer- eneraiaoc;t.l i77,o26 125,570 265,265 111,016 117,275 75,056 58,685 151,055 a9.a07 45,la4 57,18a 48,505 96,870 g > Foreign 448,482 26,0.69 l/i67.,685 53,a29 57,968 20,222 16,921 56,127 . la,857 10,518 14,445 14,052 56,411 Other 480,288 • 1,695 1120,686 1,507 6,518 6,997 525 1,276 : 5c 5Jit 1,471 888 468 55,5a7 Total deposits 19,156,150 879,505 6,575.664 9a5,a24 1445,612 824,148 85a,681 2705,5.03 685.^96 470,296 861,373 865,755 2~264,995 Deferred'availability itens2,765,155 258,925 525,916 175,126 256,5ql 250,512 201,036 426,892 124,365 61,861; 155,291 124,616 222,275 Other liabilities including ,: accrued.'dividends 17,572 1,001 4,721 1,13a 1,698 991 789 2,875 818 559 702 716 1,570 TOTAL LIABILITIES 45,661,072 2565,255 12,544,185 2744,296 5765,852 2705,515 2557,1176"7657.068 1898,693 ~Uaa,255 1916,527 i5eo,25~f49B6,i65~" capitai;npaid in 197,841 11,505 69,101 I4,5a2 18,949 8,425 7,716 2k,086 6,497 a,558 6,725 7,608 18,551 Suroius (Section 7) 448,189 28,117 158,596 55,550 42,175 21,210 19,110 66,217 16,972 11,255 16,148 la, 111 58,952 Surplus (Section 15b) 27,545 5,011 7,519 4,a89 1,006 5,5a9 762 1,429 521 1,073 1,157 1,507 2,140 Cther capital accounts 76,087 5,528 l4,7a5 5,770 7,014 5,a55 a,595 9.820 4,551 5,269 4,195 a,148 7,059 TOTAL LIABILITIES AND ; _ _ — _ —_ . ,. ; CAPITAL ACCOUNTS 46,410,732 2611,196 I2,573i9a6 2804,447 3854,97a 2741,752 2539,657 7758,620 1927,214 1164,186 1944,550 1607,405 5052,825 -Contingent liability on bills purchased for foreign'correspondents 5,586 226 2/lil48 290 550 176 147 488 129 90 125 122 315 C OEimitments to make industrial loans ' 7,744 75 - - 1,411 1,318 123 16 541 580 - - 3,750 - - 130 F.R.notes outstanding 24,575,436.1431,123 5,675,888 1669,441 2i4s,664 16^7,727 I565,a98 46oo,45a 1130,169 634,852 9a6,099 616,4272619,Ia4 Collateral for t.R.notes '-• » held by F.R.Agents: Gold certificates 15,209,000 460,000 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 49,898 10,908 22,543 4,620 - - 5,117 - - - - qSO 150 4,030 - - 2,050 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 LOANS AHD SECURITIES 4 TJithin 16 to 31 to 61'to 91 dayu to ~"g~ months 1 to 2 2 to 5 Over Total 15 days 30 days 60 days 90 days ca'mths to 1 year years years 5 years Discounts and advances 221,260 105,981 '14,795 55,587 59.55a 9*554 11 Industrial loans 2,491 2,253 25 21 21 137 4 13 19 - u.s.Govt. securities 20,593,365 1,756,515 1,082,502 5,271,105 5,565,271 2,265,917 958,200 - - 654,070 5,081,985 l/ After deducting $280,656,000 participations of other Federal Reserve Banks. 2~/After-deducting $2,458,000 participations of other FederalReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis