H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS <F • -THE FEDERAL RESS-RVg SYSTEM (Released for Publication Friday morning, May lU, I9U8) HJ4.I May 13, I9I18 CONDITION OF THE FEuERAL RESERVE BANKS * During'the we^k'elided May 12 member bank res'erve' balances increased $5U,000,000 Additions to member bank reserves arose from .increases of # $182,000,000 in Reserve Bank * credit !and $1*9,000,000 in gold stock and decreases of $10,0.00,000 in Treasury'cash arid $19,000,000 in nonmember deposits and.other Federal Reserve accounts, offset in part by an increase of $205,000,000 in'Treasury deposits with Federal Reserve Banks,- Excess reserves of iriember banks, on May 12 were estimated /ta Me approximately $930*000,000* Holdings of loans, discbunts and advances increased $19,000,000 and United States Government securities increased $97,000,00-0, The increase in holdings of Unit-eel States Government securities ^reflects increases .of $88,000,000 in bonds and $86*000-,000 in bills and decreases of $61,000,000 in certificates and $l6,Q0Q,.t)0O.in notes. Changes in member bank reserve balances and related items during the week and the year ended May 12, I9I1Q, were as follows * ' Increase; or decrease since May 12, May 5, May lk, 1-9U8- ;- ^M I9i47;: '(In millions of dollars) U. S Government securities 20,31*8 + 97 -i,UiU if Loans, discounts and advances ' '251 + 19 + 110 Other Reserve Bank credit U39 + 6? + 110 Total Reserve Bank credit 21,038 * + 182 -1,195 Gold stock 23,225 + k9 +2.3JU7- Treasury currency U,56o - 1 + l Member bank reserve balances 17,087 •f 5h +1,138 Mqney in circulation 27,762 - 372 Treasury cash 1,319 ~ 10 18 Treasury deposits with F* R, Banks 1,319 + 205 + 763 Nonmember 'deposits and other F,R.accounts 1:336 - 19- - 358 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OP CONDITION OF "THE Tl^LVB-FEDERAt; RESERVE BANKS COMBINED H.U.l(a) (In -thousands of dollars) Increase or decrease since May 12, Hay 5, May 1U, . • f19U8 19^8 191*7 A S S E T 5 Gold certificates 2X,3U2,170 '+ 50,000 +2,131,9914 Redemption fund for *'. R. riotes 625,016 - 3,957 - 9l*»383 Total gold certificate reserves 21,965,186 '+ l*6,oi*'3 +2;,337,611 Other cash 286,656 - 10,9^0 + 27,233 Discounts and advances 250,183 + 19,698 + 110,693 Industrial loans 878 810 792 U. S Govt, securities: V # Bills 7.9Wi,701 -.+ 85,950 -7, oil*, 836 Certificates i*,i65,7l*3 - 61,000 -l,5l*.5.975 Motes 1,956,800 - 15,900 +1,605,000 Bonds 6,281,220 + 88,102 +5,51*1,830 Total U. S. Government securities 2o,3l*8.1*6fc + 97,152 -l.fc.13,981 Total loans and securities 20,599/525 +ll6,o!*0 -i,3oi*,o8o Due from foreign banks . 1*9 53 F. R, iiotes of other banks 106,386 + 10,057 + 11*,035 Uncollected items 2,81ii,U06 +289,295 + 73,091 Bank premises 32,6^52 3 + 571* Other assets 16U.172 + 5,233 + 117,812 * '• mi 1 " • »!'•» i l »n •WWII TOTAL ASSETS 1+5,969,032 +U55.725 +1,266,223 L I A B I L I T I ES . Federal Reserve notes 23,65i*,3l+8 - 12,572 -. 359,01*5 Deposits: Member bank-reserve account 17,086,71*5 + 53,1*31* +1,137,792 U*S.Treasurer-general account . 1,319,1*91* +205,608 + 763,336 Foreign 371*. 276 + h,2kk - 199,167 Other i 1*17,898 - 22,037 - 75,003 Total deposits a9.i98.lti3 +21*1,2i;9 +1,626,958 Deferred availability iteuis 5 2,375,557 +222,815 - 36,51*5 Other liabilities including accrued <•• dividends 16,393 + 501 + 2,580 TOTAL LIABILITIES \ ;1*5,2I4*,711 +1*51,993 +1,233,91*8 C A P I T AL A C C O U N TS Capital paid in 198.055 + 30 + 6,735 Surplus (Section 7) itl48,.l89 + 8,366 Surplus (Section 13b) 27,'51*3 . .. + 88 Other capital accounts 50^531* + 3,702 + 17,086 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ii5,969^032 > +1*55,725 +1,266,223 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 51.3% .1% !*.¥ Contingent liability•on bills purchased for foreign correspondents 3,275 88 3,896 Commitments to make industrial loans 6,616 9 1*61* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.ii.l:(b) .STATEMENT OF CONDITION OF THE FEDERAL RESERVE-'BANKS ON'MAY 12, 19^8 (In, thousands of •d.ollars") A S S E TS Total Boston New York Phila. Cleve, Rich.: Atlanta Chicago St. Louis ,... _ Minn. Kans..Cy. Dallas SanFran. Gold certificates 21,31*2,176. 820,252 6,685,109 1032*253 1389,066 1009,326 1082*,2+2+5 u255,832 583,872 2+30,2+65 'nth,ko6 52.1,90I* 2755,22*o Redemption fund for ': ; '- . c' v F, R. notes '625,016, 52+.917 68,199 57,602 73,2+22 5u,7lo 38,§97 97,739 *i5,979 22,583 35,026 25,639 2+8,905 Total gold certificate • ''• \ reserves 21,965,186 875,169 6,753,308 1089,855 12+62,2+88 lo62+,056 1122,?ii2 14.353,571 629,351 2+53.02*8 ,'809,1*32 52+7,52*5 280l*,l2+5 Other cash 286,656 38,02*8 58,2+2*3 12,772+ 29,81+1 18,160 19,582 33,586 10,302 6,52t3 8,869 10,692 39,316 Discounts, and advances 250,183 22,866 86,388 16,82+0 52,761+ 12,623 7,2?1 22,502 10,592 2+,300 10.29B '6,033 17,706 Industrial loans 878 575 25i* 2+9 -" U. S. Govta' securities: Bills •'" 7,92i2+,701 532+,075 1,902+,996 567,2+QO 761,658 515,961 398,292 1128,81+7 2*38,651 22+3,179 370,310 36o,o2+6 721,196 Certificates 2+, 165,72+3 280,037 998,371 297,560 599,370 270,539 2oe,8l+2 591,902 230,003 127,509 194,170 188,767 378,153 Notes 1,956,800 131,5242+ 2*69,205 139,77a 187,598 127,083 98,100 278,038 l08,oI.,i 59,896 91,208 88,680 177,633 6,281,220 1+22,22*9 1,506,123 2+2*3,667 602,181 2+07,926 31*1,696 892,1*86 32*6,805 192,262 292,77!* 232+,659 570,190 i-l VaM.XVi.lt> - -T otal U „S, Government , \ '. \ , securities' " * 20,32*8,2*61* 1367*905 2+,879,195 12*55,2*91 1950,307 1521,511 i02o,..13a 2891,;273 1123,500- 622,82*6 92*8,2+62 .922,172 182*7,172 •• "-"'"• ii ' ••'»' •"", "iii •• M.i.i inn 1 HI 1 • •• •' • - .;• •'•' '• i- 1 "" '" Ji' '• 11 " . 1 il< ' 1 w 1 11 1 -ini.tii.j. »•! n.n IP • i» • ii ii 1 . ii 11 •• -. ,1 • i. . '1 m '•!)" 1 . u 1 1 • 1 n Total loans and securities" 20,599,525 1390,771 2*,965,583 li+70,906 1983,825 1334,183 1027,2*01 2913,775 1132**092 627,li*6 958,760 923,205 1862*,878 Due from foreign banks " ^ ' 3 '" * l / 1 6' ! :- 2* 2+ 2 v': 2 i. :. 7 ' 2 M-'i •• 2 • • 2 2* F.R. notes of other banks 106,386 i+,228 •"••"'' I&M5•-'- l,9^8 ' "' 5,99)$ 11,1+88 11,680.'"'! 15,01*7 8,374 4,022 6,282* i+,619 12,785 Uncollected items 2,8l2+,2+o6 22*1,219 548,233,'• is?.,2*78 285,363 ; 237,753 182,771 2*2o,3B9 129,331 68,616 136,2+93 129,663 22*7,097 Bank premises 32,652- i;222 8>173•' ' 3il32 • i+,883 -> 2,610 1,52*6 -3,035 ; 1,957 1,198 2,2*27 701 1,688 other assets 162*., 172 11,053 . 38,611 11,32*7 15,659 10,970 8,258 . 22,957 9,335 . ,2*,.93P 7,527 8,186 15,139 . .II . mi ..•„•,.. ,1 I.„I . 1 ., . 1, ^ ,, .• •• •. • .11 — •„. . .. na. .II^ • .1- py.,...^-., . ,. .,. . •• I.I t ., ., ,. ,.. .,,_ ,1, .^ • 1 .II, - .... TOTAL ASSETS' 2+5,969,032 2561,713 12,389,2*82 27si>,2+2*2* 3788,059 2679,202^2373,982 7762,367 1923] 22*2+ ll65,.5Q2+ 1929,794 1629,69-1 2*985,550 . l/ After deducting $33,000 participations: of'other Federal Reserve Banks.. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hjj.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 12, 19^8 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 25,654,348 li*22,9l*8 5,410,1*52 1617,951 2066,950 l6ll*,3l9 1518,1*4*9 4506,576 1082,1*75 612,065 917,250 590,259 2^,696 Deposits; Member bank-reserve acct. 17.086,745 756,051 5,551,716 790,570 1269,155 72l*,025 756,21*1 2575,81*1 615,705 1*11,653 796,597 825,780 2055,455 U.S.Treasurer-general acct. 1,519.494 109.580 515,449 124,291 125,827 80,287 75,501 182,654 65,871 54.900 58,921+ 56,025 76*1*07 Foreign '574,276 21,785 l/l59.762 27,921 51,712 16,890 14,155 46,879 12,409 8,618 12,061* 11,720 50,585 Other 417,898 1,825 "558,665 1,522 6,017 2,669 985 2,057 4,794 1,61*9 1.459 1.585 54,895 Total deposits. 19,198,2*15 869,22*1 6,51*5,592 944.30l* 1450,689 825,871 82*2*, 658 2805,391 696,777 476,800 869,02*1* 894,906^197^140 Deferred availability items 2,575,557 222,511; 405,109 158,781 222,099 205,508 179.201 550,108 116,074 56,987 115,795 117,869 227,9*k Other liabilities including accrued dividends 16,595 962 2*, 52*2 1,069 1.652 897 722 ; 2,1*70 7^6 545 619 665 1,506 TOTAL LIABILITIES i*5,2l*2*,7ii 2515,2*65,12,165,695 2722,085 5721,590 262*2,395 251-5,030 766^,545 1896,072 111*6,395 1902,666 1605,697 4921,256 Capital paid in 198,055 11,511 69,155 14,543 18,974 8,If38 7,751- 22*,096 6,509 " 4,561* 6,775 7,618 18,565 Surplus (Section 7) 448,189 28,11? 158,596 55,550 1*2,175 21,210 19,110 66,217 16,972 11,255 16,11*8 11*,HI 58,952 Surplus (Section 13b) 27,545 5,011 7,519 4,1*89 1,006 3,3^9 762 1,1*29 521 1,075 1.157 1,507 2,il*o other capital accounts 50.534 ' 3.809 8.739 3,977 4,516 3.810 5,549 6,08o 3,170 2,1*59 3,048 2,958 1*,659 TOTAL LIABILITIES AND ' '• ' " ~"~" CAPITAL ACCOUNTS 1*5.969.052 2561,715 12,389,1*82 2780,1*1*1* 5738,059 2679,202 2575,952 7762,567 1925.21*1* 1165,501* 1929,794 1629,691 i*985,55o Contingent liability on bills purchased for foreign correspondents 5,2?5 2o6 2/l,0l*8 265 501 161 154 445 118 82 115 112 288 Commitments to make industrial loans 6,616 75 502 1,286 159 16 54.1 - 580 3,750 127 F. R. notes outstanding 22*,i*69,15l ll*72*,083 5,61*5,226 1667,1*56 212*5,12*1 1681,657 1565,590 4:578,111* 1121*.690 652,679 945*285 621,1*85 2595,947 Collateral for F.R.notes held by F.R.Agents s Gold certificates 15,279,000 2*60,000 1*,1*70,000 550,000 755,000 625,000 675,000 2700,000 515,000 200,000 280,000 169,000 2100,000 Eligible paper 71,779 " 12,975 55,865 1*. 125 4,850 — 1*,92*0 575 4,785 5,890 U.S. Govt, securities 12,1*25,000 1100,000 1,500,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 1*50,000 700,000 500,000 1000,000 MATURITY DISTRIBUTION OF LOANS AMD SECURITIES Within 16 to 51 to 61 to 9I 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 250,183 92,073 " 25,125 51,903 81,059 3 20 Industrial loans • 878' '. 527 55 65 168 : 51 - 1* ll* 16 —— u.s.Govt. securities 2o,5l*8,l*61* 1,912*,oil* 1,61*7,301 5,155,421 1,898,905 2,196,617 1,374,000 1,080,221 5,081,985 1/ After deducting $25**,596,000 participations of other Federal Reserve Banks. 2"/After deducting $2,227,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis