H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE ..FSBEPAL RESERVE SYSTEM (Released J or Publication Friday morning,^pril 23,19^8) BUli.l April 22, I9U8 CONDITION OF; MB FDDSRAL^RESSRVE BANKS During the, week ended.AprH 21 member bank reserve balances decreased $205*000,000* .Reductions in member bank reserves arose from a decrease of $16U,000,000 in.Heserve Bank credit arid Increases of $106,000,000 in Treasury deposits with Federal Reserve Banks a&d $16,000,000 in Treasury cash, offset in part .by an increase of $7,000,000 in gold stock and decreases of $$6,-000,000 in ih^ney, Ik circuia-tion &nd ,$18,000,000 in nornnember deposits and Qther Federal Reserve accounts* Epvess:; reserves of member banks on April 21 were estimated to be apprQximat€hly:$72b,000,,060.* Holdings of loans, discounts and advances increased $15,000,000 while hold ings of .United States Government securities decreased $199,000,00,0* The decrease in holdings of\United S'ta't^s- Gk>vernmefat securities reflects decreases of $207,000,000 in bills and$SS,0O0,D00'in certificates and increases of $89,000,000 in bends and $7,000,000 in notes. Changes «in member bank reserve balances and related items during the week and the year ended April 21,1948,. were as follows: Increase or decrease since April 21, April Ik, April'23, 19U8 I-9U8 .*9h7 (In millions of doliars) U, S, Government securities 20,39** - 199 -i,B5 Loans, discounts and advance'; s 238 + 15 + 96 Other Reserve Bank credit 3514 ;•••. + 21 + 76 Total Reserve Bank_credit 20,966 _ 16U -1,261+ Gold stock 23,159 +' 7 +2,538 Treasury currency U,557 - l 1 Mepiber bank reserve, balances I6,eii5 . 205 +1,02.5 Money in circulation "27,718 - 56 - :,387 Treasury cash 1,336 + 16 ... ' "2 Treasury deposits with F«R* '. Banks 1,283 + 106 + 801 Nonmember deposits -and other *F,R.accounts 1.501 - 18 - 163 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT- OF CONDITION OF THE' TWELVE' FEDERAL RESERVE BAMS COMBINED (In thousands of dcillars) h.U.i{^) Increase or decrease since April 21, AoriJ ll*V April 23, 1199UU88 19^8;' 191*7 >>XX '' rr-- A S S E TS Gold certificates 21,259,170 - - +2,598,993 Redemption fund for F*R„ notes 653,528 - 166 '•*• 89,852 Total gold certificate reserves- ,21,892,698 -, 166 *2,509,iUl 4 Other cash ^ 325,756 -17,33-1 + ' 1*8,796 Discounts and advances; 233,390 +12,130 • + 92,193 Industrial loans , hM + 1,893 + 3,31*6 U S, Govt, securities': , ;'] # Bills 4,282.-, 151 * -206,800 -\ -6,775,960 Certificates i*,25i*,693 - 88,100 -l.lill.025 Notes 1,933,800 + 7,250 +1,582,000 Bonds 5,923,655 + 88,586. +5,170,265 Total U S« Government < # securities ' 20,39^,299 -I99,06it " .-1>U3U.720 Total loans and securitie-s 20,632,073 -185,pl*l -1,339,181 Due from foreign banks" 95 7 F.R, notes of other banks 110,883 + 6 < ,7 .-> 77 * ' ;!V / .• 10,1*1*6 Uncollected items 2,869,558 -206,659 "'< + 523,628 Bank premises ' 32-, 737 + 3 , + 606 Other assets 1U7,933 . * 3,Uoo : + 105,31*2 TOTAL ASSETS; U6,011,715 -399,017 +1.858,771 L I A B I L I T I ES Federal Reserve notes 23.666,U9l ' - 57/701* 7 358,370 Deposits* Member bank - reserve account 16,8^5,323 -205,031 +1,025,580 U.S.Treasurer - general account 1,282,982 +105,956 .+ 801,311* Foreign U22.J475 - 26,007 - 136,289 Other : [188,68,7 + 8,399' + 26,892 Total deposits 19,039*1*6(7 -ii6,-'683' +1,717,1*97 Deferred availability items 2,535,69)8 -227,1*57 + 1*1*8,139 Other liabilities including accrued dividends 16/736 - . 836 1,1*65 TOTAL LIABILITIES 1*5,258,392 -U 02,680 +1,808,731 C A P I T AL A C C O U N TS Capital paid in 197,962 + 121 •:+ -6,778 Surplus (Section 7) 1*1*8,I89 - - / •+ 8,366 Surplus (Section ijb) 27,51*3 - - + 88 Other capital accounts 79,629 + 3,51*2 + 3U.808 TOTAL LIABILITIES AND CAPITAL ACCOUNTS k6, oil, 715 -399.017 +1,858,771 Ratio of gold 'certificate reserves to deposit and F«R note # liabilities combined 51.2$ • 2 7 fo ° Contingent liability on bills purchased for foreign correspondents 5>517 69 l*,l*8i* Commitments to make industrial loafts 7,725 19 371* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lwl(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 21, I9I48 (In thousands of dollars) A S S E TS Total Boston -New York, Phila* Cleve Rich* Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. % Gold certificates 21,259,170 822,028 6,6ii8,Up!t loU8,6glt 1395.788 1020,1*1^ 1057,100 U2ao,$07 59ii,900 437,283 761,772 505,6602756,220 Redemption fund for F. H. nrotes 633,528 55,321* 69,9*4* 58,276^ 73,926 55,1*75 36,709 103,023 1*6.116 32,639 ,35,H*3 . 25,699 1*9,251* Total gold certificate reserves 21,892,698 877,352 6,718,31+8 1106,970 lii69,7lii 1075,889 1095,809 14313,930 61*1,016 1*59*:922 ^796,915 531,359 2805,klh Other cash 325,756 39,058 61,371* 18,1*61* 32,288 20,197 23,983 1*1*,867 13,859 8*335 10,1*08 10,71*3 1*2,182 Discounts and advances 233,390 21,579 57,529 18,623 27,113 12,918 1.1,603 31* .-1*78 11,658 3,800 H*, 083 6,832 13„17l* Industrial loans i*,38l* 1*75 215 1*6 3,61*8 0. S. Govt, securities? Bills 8,282,151 556,759 1,985,911 591,59k 79it.010 537,876 1*15,209 1176,791* 1*57,283 253,508 386,039 375,339 751,829 Certificates 1*,25I*,693 286,017 1,020,199 303,913 107,898 276,316 213,301 60l*,5i*l 23I*,911* 130,232 198,316 192,818 386,228 Notes 1,933,800 129,998 1*63,690 138,131 185,393 125,589 96,9^7 271,770 106,771 59,192 90,136 87,638 175,51*5 Bonds 5,923,655 398,212 1,^20,386 1*23,127 567,901 381*,706 296,970,81*1,680 327,063 181,317 276,107 268,1*51* 537,732 Total U.S. Government securities 20,39^,299 1370,986 l*,S90,a86 11*56,765 1955,202 132l*,l*fi? 1922,427 2897,785; 1126,031 62^,21.9 950,598 921*,21*9 1851,331* * *X r • • ' - i r Total loans and securities""™ 20,632,073 1392,565 li,9U7.7l5 11*75,863 1982,530 1337,1*51 1037,676 2932,263 1137,689 628,01*9 96U/68I 931,081 1861*, 508 Due from foreign banks . 95 6 1/31 8 ., 9. .5 k 13 3 2 3 3 8 F.R.notes of other banks 110,833 5,021 17,025 i*,8l*6 . 6,^18 15,096 ll*,298. -. 13,765- 6,976 1*,296 1*,690 i*,037 Hi, 515 Uncollected items 2,869,538 229,109 602.^76$. 199,62a 280,.9l*3 221,535 193,196 1*29,051 116,923 ^3,-659 H*6,683 133,313 252,71*1 Bank premises 32,737 1,227. 6 '••8,186 3,11*5 U,896 2,617 l,5l*9 3,0i*2 1,962 1,201 2,1*33 785 l,69l* Other assets 11*7,935 9,978' 31*,630 10,307 ll*,l*Q2 9,867 7,1*27!- 21,071 8,1*26 1*,651 6,088 6,61*7 13,&*1 TOTAL ASSETS 1*6,011,715 255l*,3i6.12,390,071* 2819,223 3791,100 2682,657 2373,9^ 7758,002 1926,85!* H70,H3 1932,701 1617,968 1*99^,763 l/After deducting $61*,000 participations of other F-ederal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hj+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 21, 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* 25,666,1*91 11+27,878 5,1+26.697.1,619,256 2059,769 1618,198 1515,661: 1*515,1*03 lo8l*,276 610,166 917,593 589,057 21*81*, 55U Deposits: Member bank-reserve acct. 16,81*5,323 70.1,852 5,1*22,529 811|,910 1250,118 711,506 71*6,1*60 21*86,161* 616,581 l*17,jl3 79**,977 819,1*1+2 2065,871 U.S.Treasurer-general acct.1,282,982 156,-588 T 25I+,89I+' 118,651* 118,528 80,966 66,960 218,655 66,616: ;-52,715 1+2,291 1*9,006 77,11*9 Foreign 1+22,1*75 2,5,-1,77 lM 609 52,667 57,101* 19,762 16,555: 5i+,8l*9 11*, 519 ;•• ;-ro,o85 ii+,115 15,21+6 55,509 Other £83,687 1,856 ~ 1+17,1+08 1,562 6,829 5,605 2,259 2,696 6,203 :- 1,511* 5,61*2 578 56,757 Total deposits 19,059,1+67 865,77>5 6,21*5,21*0 967,773 11+12,579 817,637 832,211+2762,51*1* 705,719;. 1*81,825 857,025 882,072 2215,266 Deferred availability items 2,555,698 2ii;i*29 - 1*85,268 170*715 21+7,1*51+ 207,226 l9l+,937 575,1+06 109,1+19; 57,553 129,056 118,780 228,1+95 Other liabilities including accrued dividends 16,736:; '985 l+,2i*5 1,067 1,817 929 76I 2,795 730 5ia 656 768 1,1*1*2 TOTAL LIABILITIES li5,?58,592 2506,065 12,159,1*50 2753,811 3721,619 261*3,990 251+1,576 7655.91*8 1898,1.1*1* 1150,065 I90l*,510 1590,657 1+927,757 Capital paid in 197,962 11,507 69,126 lit, 51+5 18,9U9 8,1*36 7,722, 21*, 086 6,500 1+.360 6,771 7,612 18,550 Surplus (Section 7) 1*1*8,189 28,117 138,596 55,350 1*2,173 21,210 19,110 66,217 16,972 11,255 16,11*8 ll*,lll 58,952 Surplus (Section 13b) r27,5ii3 5,011 7,319 1+.1+89 1,006 3,51*9 762 1,1*29 521 1,075 1,137 1,507 2,11+0 Other capital accounts : r :79,629 5,816 15,583 6/050 7,355 5,672 U, 77k 10,522 i*,717 3.382 1+.335 1*,281 7,561+ TOTAL LIABILITIES AND :i .... CAPITAL'ACCOUNTS ;£6,pii,7i5. 2551*^316 12,390,07!*' 2819^223 3791,100 2682, ,657 >575,9W* 7758,002 1926,851+ 1170,113 1932,701 1617,968 l*99l*,765 Contingent liability on bilJLs purchased for foreign correspondent^ ~ 5,517 221 1/1,125 285 52; 172 11*1* 1*78 127 88 125 122 309 Commitments to make industrial loans v 7,725 • 75 1,396 1,310 127 16 31*1 580 3,750 130 ; F.R. notes.outstanding 2i+,J*65,l+6o 11+27,878 5,662,619 l66l-,570 211*8,192 1685,31+5 1566,529 1+591*, 782 1126,878 655,091 9k3,l*13 618,271* ?596,889 Collateral fori'F.R. notes held by F.R. Agents: Gold certificates ,'13,209,000 .1+60,000 l*,l*70,ooo 5^0,000 735,ooo 625,000' 675,000 2650,000 515,000 200,000 280,000 169,000 2100,000 Eligible paper i 50,035 12,255 10,119 '6,635 - - 5,566 - - - - 6,550 100 8,880 150 U.S.Govt, securities 12,750,000 1100,000 1,500,000 1200,000 1500,000 1100,000 750,000 2000,000 950,000 1*50,000 700,000 500,000 1000,000 MATURITY PISTRIBUTION OF .LOANS AND SECURITIES Tiithin 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 255,590 132* ,585 16,238 ."-• 2£,617 77,71+2 376 51+ Industrial loans i+,381* 1*,170 21 r 21 157 1+ "ll ' 19 U.S».Govt, securities' 20,59k, 2-99 ,579,71*0 1,21*1,056 55,,11**1153,,0011**99 5,083,01*6 2,251,917 1,01+0,850 722.656 5081,985 l/After, deducting $2?!*, 21*1*, 000 participations of other Federal Reserve Banks. 2~/ After deducting $2,392,000 participatibns of other Federal Res-erve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis