H.4.1 Factors Affecting Reserve Balances of Depository Institutions

B.CkRD OF GOVERNORS' OF THB" FEE&RAL RESERVE' SYSTEM (Released for Publication Friday mornirig, May 7,19^8) E.U.I May 6, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS During the week; ended. May |? member bank reserve balances--decreased : $10,000,000* Reductions dri member bank reserves arose from iBcr£akes of $80,000,000 in money in. circulation and $3,000,000 in Treasury casiij a'nd a de crease of $96,000,000 in Reserve Bank credit, offset in part by decreases of $71,000,000 in Treasury deposits with Federal Reserve Banks and $88,000,000 in nonmenibe'r deposits and other Federal Reserve accounts and an increase of $9,000,000 in gold* stock* -Excess reserves of member banks* on May $ were es timated to .be approximately $860,000,000. , Holdings, of lo^ns, discounts and advances decreased $29,000,000 and United States Government securities decreased $189,000,000* The decrease in holdings*' of "United States /Government securities reflects decreases of $281,000,000 .in'bills and$33,000,00^ in certificates arid increases of' $109,000,000 in.bonds and $17#000,000 in notes• Changes in member bank reserve balances and related items during the week and; the year "ended May 5, 19^8'i were as follows: #• •- • Increase] or d ecrease • Sjince May 5, AtfrJ.1 28„ May 7, •19148 :/49i48. 19^7 ••'»>-"irif1"' -' • "w ,' (In "millions p^ doll ars) U« S Government securities 20,251 . • 18<j -1,601 # Loans, discounts and advances 232 29 + 129 Other Reserve Bank credit 372 * + 121 + 97 Tptal Reserve Bank.credit 20,856 - 96 rl,37it Gold, stock 23,176: •+ 9 +2,365 Treasury currency + .. ;i Member bank reserve balances 17,033 10 +1,156 Money in circulation 27/762 >+ 80 - U3.5 Treasury cash "" • 1,329 .+ 1 Treasury.deposits with F # R» Banks l.llii '- :7l '+ U60 Nonmember deposits and other F.R,accounts 1,355' 88 189 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3TAT6LSNT OF CONDITION OF ;IHS.^:/ELVB:-FEDEItii ' RESERVE-fcuSKS ;0MBJ1§3> (Iii;thousands of dollars) : H.L.l(a) Increase or decrease • since May 5, April 28, May 7, I9ii8 19U8 I9U7 A S S E TS Gold certificates 21,292,170| *. 13,000 +2,uiil,992 Redemption fund for F. R; notes • 626,973' _ 1 loo - 92,315 ,','4'-- Total gold certificate, restertfes '2i: 9l2,lli3- + 9,578 +2,31.9,677 f Other cash ".; ? ' . 297/596: - 26,076 + ) 2,076 4 Discounts and advances" v* ; 250,1,85 - 28,2^0 + 129,051 Industrial loans 1,688"; a 53 +1 602 U. 8". Govt, securities: Bills • 7,358,751 -281,ii50 -7,236, QiO Certificates i,226,?u3 - 32,800 -1,^2)4,1.75 Note s '1,972,700 + 17,000 +1,620,900 Bonds 6,193,118' +100,651 +5,1*59,728 Total U. S. Government "'••' securities ^ 20>, 2 51,312 -188,599 -l, 600,1*87 Total loans and securities 2oU33,^65 £217,297 -i,li70,85u Due from foreign banks hi -'* 1;5 53 F. R. notes of other banks 96^29 •-> i)4,u7o ••: .'+! 3M19 Uncollected itqms 2,525,111 :+ 1^927 6 '; +; 336,102 Bank premises 32,655 - +: •• 577 Other.assets . 158,939: >* U,567 +.. HU,287 TOTAL ASSETS it5,5i?; 307 4230,850. '+l,377,2ol LI A B I L I T I E S. Federal Reserve notes 23,066,920 . + ) 2865 .-: 1403,931 4 r Deposits: Member bank - reserve.account 17,033,311 • 9.983- +1,136,338 U.S.Treasurer- general account 1,113,886 • 71,); 60 + 1*59,989 Foreign 37**, 032 • 16»75U - '8li,334 Other lj-5^,955 • 29,-33-5 - 25,220 Total deposits 18,957,1617 •i27;'51.2" +1,508,773 Deferred availability items 2,152,7)4.2 •I08,3ii8 + 238,977 Other liabilities including accrued dividends 15,392 • 1,^561. 3,130 TOTAL LIABILITIES ., ; l.t)4,792,718 ;M9h,556-' +I,3^6,9h9 C A P I T AL A C C O U N TS Capital paid in 198,025 35 + 6,7)16 Surplus (Section 7) iw8',i89 + 8,366 Surplus (Section ljb) 27,5U3 + :-'• ' 88 Other capital accounts 16,832 3 b, 329 + ,...15/^2 TOTAL LIABILITIES AWD CAPITAL ACCOUNTS ),c r,-|7, ?.rY/ ~o~2.r\ P.'r;n +1,377,291 Ratio of gold ..certificate-.-reserves to deposit afrd F. R. note liabilities combined * . 1% U • 37° Contingent liability on bills -purchased for foreign correspondents ' .3,363 •21 r 14,363 Commitments to make industrial loans 6,607 - 1,119 . - ;; 557 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H*4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANES ON VAX 5, 19^8 (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 21,292^170 810,303 6,686,1*99 101*5,081 11*13,257 1019,859 1057,1*27 1*2?5,001 587,565 .1*32,696 761,11*8 511,356 271*1,978 Redemption fund for -. ' ' . _ ' • ' - . • ,. F. R. notes 626,973 55,151 69,120 57,973 73,689 56,310 38.5H* 97,739 1*6,058 22,613 35,080 25,639 1*9,087 Total gold certificate 21,919,11*3 86$,i*54 6,755,619 1103,05b lu86,9U6 1076,169 I095,9ul u322,7a0 633,623 455,309 796,228 536,995 2?9l,o65 reserves Other cash ' 297,596 38,710 54,838 16,100 30,1*76 18,l2o 22,778 37,537 ,10,570 7,591 8,478 10,793 1*1,605 Discounts and advances 230,485 19,534 59,278 17,228 25,1*76 11,247 10,21*2 40,173 8,093 ! 3.775 H,033 5,627 18,774 Industrial loans 1,688 585 254 49 800 U. S. Govt., securities: 3iiis 7,858,751 528,297 1,884,387 561,351 753,1*18 510,379 393,983 1116,634 433,905 21*0,51*8 366,301* 356,151 713,394 certificates 4,226,71*3 28l*,l39 1,013,1*97 301,917 1*05,218 27I.,501 211,899 600,569 233,370 129,377 197,011* 191,551 383,691 Notes 1,972,700 132,613 1*73,018 11*0,910 189,123 128,115 98,897 280,297 108,919 60,382 9l,9**9 89,1*01 179,076 Bonds 6,193,118 1*16,326 l,48l*.,998 1*1*2,374 593,731* 1*02,206 310,1*80 879,968 31*1,91*1 189,565 288,667 280,666 562,193 Total U.S. Government securities 20,251,312 1361.375 4,855,900 11*1*6,552 191*1,1*93 1315,201 1015,2592877*468.1118,135 619,872 91*3,931* 917,769 1838,351* Total loans and s-eouritie! 20,1*83,1*85 1380,909 1*,915,178 ll*6ii,365 1967,223 1326,1*97 1026,301 2917,646 1126^228 623,61*7 95l*,967 923,396 1857,128 Due from foreign banks 1*9 ,3 - 1/ 16 , 1* 1* 2 2" 7 . 2 1 : 2 2 1* F.R. notes of other banks 96,329 i*,l*32 lT,260 4,894 1*,829 13,205 11,189 ll*,H0 6,1*59 3,133 : 6,157 l*,82l 11,81*0 Uncollected items 2,525,111 2o2,o57 1*77,317 177,1*51 21*9,1*66 204,078 171,081* 390,632 lH*;,334 60,1*1*1* I 132,637 110,753 234,858 Bank premises 32,655 1,222 8,171 3,132 1*,887 2,610 1,51*6 3,035 1,958 1,198 2,1*27 781 1,688 other assets 158,939 '10,739 37,21*5 n,ol*7 15,521 10,581* 8,ol*9 22,310 9,01*5 4,888 7,1*31 7,390 14,690 s TOTA£ ASSS-E& 45,513,307,2503,526 12,259,644 2780,01*7 3759,352 2651,265 2336,890 7708,017 1902,219 1156,211 1908,327 1594,931 1*952,878 l/ After deducting $33,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,2*.l(c) STATUMSNT OF CONDITION OF THE FEDERAL RESERVE BANKS ON M5A, Y1 9U8 L I A B I L I T I (In thousands of dollars) Total Boston New York Phlla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas SanFran, Federal Reserve notes 23,666,920 12*22,192* 5,1£7,837 1620,2*90 2o6o,2*51 1613,052 1320,838 1**511,183 1083,811 612,183 918,756 591,019 21*85,106 Deposits: Member bank-reserve acct. 17,033,311 726,299 5,1*88,620 839,081* 1268,837 736,065 750,932 2553,957 621,171 1*03,1*01* 782,666 813,1*27 20i*8,8l*9 U.S.Treasurer-general acct. 1,113,886 106,1*00 226,899 77,931* 123,860 6i*,76o 56,009 181,215 1*7,895 56,797 50,1*58 1*9,801 71,858 Foreign 370,032 22,030 1/132,881 28,237 32,071 17,081 11*.293 1*7,1*10 12,550 8,715 12,201 11,852 30,711 Other 1*39,935 1,963 ~ 371*, 1*81 2*036 7,21*2 3,H3 373 2,227 l*,8i*6 ..• 2,1*1*8 1,1*71 2,690 37,01*5 Total deposits 18,957,161* 856*692 6,222,881 91*7,291 11*32,010 821,019 821,607 2781*, 809 686,1*62 1*71,361* 81*6,796 877,770 2188,2*63 Deferred availability items 2,152,72*2 177*61*1 381,722 155,167 198,699 179,762 162,972 ;312,391 102*, 328. 53,lu5 115,316 99,571* 212*, 025 Other liabilities including accrued dividends 15,892 985 li,259 1,001* 1.879 860 698 . 2,321 709 521 626 731* 1,296 TOTAL LIABILITIES W*,792,718 22*57,512 12,036,699 2721,952 3693,039 2612*,695 2306,115 7610,702* 1875,310 1137,213 1881,2*91* 1569,097 2*888,890 Capital paid in 198,025" 11,308 69J.32 12*, 51*3 18,968 8,2*38 7,730 22*,093 6,503 2*,36>* 6,775 7,613 18.558 Surplus (Section 7) 2*2*8,169 28,117 138,596 35,350 2*2,173 21,210 19,110 66,217 16,972 11,233 16,12*8 12*, 111 38,952 Surplus (Section 13b) 27,52*3 3,011 7,.319 1*,1*89 1,006 3,31*9 762 1,2*29 521 1,073 1,137 1,307 2,12*0 Other capital accounts 2*6,832. 3.578 7,898 3,713 1*,166 3,575 3,173 . 5,571* 2,913 2,, 328 2.773 ,2,803 1* ,3?8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2*5,513*307 2503,526 I2,259,6i|2* 2780,02*7 3759,552 2651,265 2536,890 7708,017 1902,219 1156,211 1908,327 I59l*,931 1*952,878 Contingent liability on bills purchased for foreign correspondents 3,363.' 212 2/1*076 272 310 165 138 1*57 121 82* 118 111* 296 Commitments to make industrial loans 6,-607 " 75 292 1,290 133 16 32*1 560 3.750 130 F. R. notes outstanding 22*,2*50,02i 12*76,2*52 5,62*7,2*23 1662,356 212*2,099 1676,73.2 1359,352 2*580,62*2 1120,971. 632,005 9l*l*.l67 619,866 2587,956 Collateral for F»R« notes held by F.R»Agentss Gold certificates 13,229,000 2*60,000 2*>,2*7o,ooo 550,000 735,ooo 625,000 675,0002700,000 315,000 200,000 280,000 169,000 2050,000 Eligible paper 2*5,685 10,210 11,918 5,22*0 3,895 2,765 75 5,832 -— 5,750 U.S.Govt, securities 12,625,000 1100,000 1,500,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 2*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES , TJithin 16 to 51 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 230,2*85 :81,2*i*8 5,911* 6l,l60 81,922 ' 20 21 Industrial loans -1,688 1,336 28 71 162* . 55 1* " 11* 16 U.S.Govt, securities 20,251,312 ,608,62*6 1,758,713 5,186,076 2,092,156 2,226,917 l,53l*,700 992,119 5.081,985 l/After deducting $237,02*8,000 participations of other Federal Reserve Banks. ?/ After deducting $2,287,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis