H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERA tREoERVB. SYSTEM (Released fof Publication Friday morning, May 28, I9U8) H.lul May 27, I9U8 CONDITION OF THE FEDERAL RESERVE BANKER During the week ended May 26• member bank reserve; balances increased $395,000,000* Additions to member bank reserves arose from increases- of $527,000,000 In Reserve Bank credit, $5000Q,000 in gold stock and $2*000,000 in I ; Treasury currency and .a decrease'of $6,000,000 in nonmember deposits and other Federal Reserve accounts,offset in part by increases of $176,000,000 in Treasury deposits with Federal Reserve Banks, $10,000,000 in-money in circulation and, $1;,000,000 in Treasury cash» Excess reserves of member banks on May;;26 were w estimated to be approximately $710,000,000. Holdings of loans,>discounts and advances increased $96,000*000 while holdings of United "States ^Government securities increased $1^)4,000,000« The in crease^ in holdings of United States Government securities reflects increases of $U95.0000btfin bills/ $10,^00,000 in-notes and $7,000,000 in certificates and a f decrease of $16,000,000 in bonds. Changes in member bank reserve balances and related, items 'during the week and the year ended May 26, I9I48, were as follows: Increase or decrease since May 26, May 19, May 28, 19^6 I9U8 _i9U7 (In millions of dollars) U. S. Government securities 20,592 + h9h - 998 Loans, discounts and advances 322 •f 96 + 190 Other Reserve Bank credit 206 • 6U - 11 Total Reserve Bank credit 21,201 + 527 - 818 Gold stock 23.,295 + 50 +2,363 Theasury currency It, 561 + 12 - - Member bank reserve balances '"16,901 + 395 +1,I96 Money in circulation 27,700 + 10 - 511 Treasury cash 1,333 + k - 59 Treasury deposits with F R* Banks 1,7*8 «- 176 +1,037 t Nonmember deposits and other F«R. accounts 1,535 - 0 -' 157 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF COMpITlON OF TH&-TWELVE, FEDERAL RESERVE4'SAMS COMBINED (In thousands of dollars) H.U.l(a) Increase or decrease since my 26, May 19i .• May 28, •19^8 : !9hQ •. 19U7. A SVS E ,T; S Gold certificates.._" 21,1405,170 + 50,000i +2,430,492 Redemption fund for F R notes 626,725 - 5J498 ': -' J&330 # # Total gold certificate reserves 22,025,893.. +"l4O,50^ +2,337062 Other cash .280,321 - 6,586 +" 47,727 Discounts and advances •'•320,757 +'95,507 + 196,598 Industrial loans ; 687 11 716 U. S. Govt, securities• Bills 8,196; 591- +492,790 -6,370,822 Certificates 4,125093 +• .7,000' -1,791,725 Nptes l,9if6,;800 .+ 10,000' +1,577,500 Bonds : 6,323,000 - 15,650 . +5,587,610 Total U, S. Government ;g. ecur; j > ^ e - s r \ .2o,592.B6l; V +k9k,ikQ 997,437 Total loans and secu rit^es 20,9lU,cJ28 +589,636 *- 607,555 Due from foreign banks ^ h9 — - 53 F* R. notes of other banks! > io4,365 • - 7,677 - + 5,537 Uncollected items.' '2,5O9,03U -461/682 + 299,643 Bank premises ' 3£,6i7 40 + 582 Other assets 170,509 :+ 3,327 •H 120,263 _, J-..—,— TOTAL ASSETS 46,036,06 +161,030 •+2. ,003O06 L I A B I L fig IE S- Federal Reserve notes ,.> 2:3,587,9^5 - 0'2.'ll.. -, 522,233 t Deposits; Member bank*reserve account l6j 901,067 + 395', 519 + 1;:, 195,618 U.S.Treasurer-general account "1067,560; * i?c,U7U +r, ,036,503 Foreign .••.372,298' + 3,573 - 30,426 Other '1415,807: -., 10,604 - ., 27,440 Total deposits "19^76,732. + 563019 +2 074,260 ; Deferred-.availability items 2,V222,5S4 -.398,114 + 310,254 Other liabilities including accrued dividends 17,883 , + 73 + 3; ,32 3 TOTAL LIABILITIES, 45,305,1214 +'• 157,667 -+1,, 966,104 C A P I T AL iiCC 0 U-N-T S" Capital paid in 196,120 + 32 * \ 6,716 Surplus (Section 7) 448,189 + • • 8,566 •r ' Surplus (Section 13b) "£7,5l*t3 '. — . +• •• 88 Other capital accounts f?7,06o + 3.701 + 22,032 TOTAL LIABILITIES AND CAPITAL)ACCOUNTS ii6,056,836 + 161,480; ; +2 ,003O°6 Ratio of gold certificate reservesto deposit and F»R,.\note liabilities combined -%^%. - " M + ' 3.6^ Contingent liability on bills purchased for foreign correspondents ,, •3,300 + 1 .'- , ?,2©2 Commitments to make industrial loans . 6,634 + 11 + 931 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HJul(b) STATEMENT OF COKpITI® OF THE FEDERAL RESERVE BAMS ON IvIAY 26, 19^8 (In thousands of dollars) A S S E TS T6tal Boston Hew York Fhila Cleve Rich Atlanta „ Chicago St Louis * Minn* ICa.1x9.Cy. Dallas SanFran. # # r # Gold certificates 21,1*05,170 805,900 '6,739,980 1095,522 11*32,207 1002,699 1035,186 1*301,296- 569^1*5^ 1*23,01*0 758,oir 511,506 2730.368 Redemption fund for F. R. notes 620 723 5li,73i 67,269 '57,277 ,75,151 55,571* 58,092 97,197 h5,9$i 22,551* ,3l*.959 25>5ili 1*8,701 > > Total gold certificate reserves, 22,025,893'' 860,631 6,807,21*9 1152.799 1505,558 1056,073 1073,278 1*398,1*95 615,559 1*1*5,594- 792,976: 537,020 2779,069 Other cash 280,321 :-35,705 5L9U1 15.722 28,210 17,112 22,996 35,816 12,299 6,120. ; ; 9,863* 10,662 35^875 Discounts and advances 320,757 21,990 92,51*5 19,01*0 21*,969 21,613 12,191 59,252 22,092 1*,056- ?l8,9i*V 5,970 17,906 Industrial loans 887 560 261 00 U. S. Govt securities• # Bills 8,196,591 551,008 1,965,595 585,1*83 785,807 532,319 1*10,920 1161*,637 1*52,558 250,890 382,051' 371.1*61 7l*l*,062 Certificates 1*,125,995 277,367 989,558 29i*. 720 595,560 267,957 206,81*7 586,251* 227,809 126,293 2.92,317 186,986 37l*,5l*5 Notes 1,91*6,800 130,871 1*66,808 139,060 186,639 126,1*31* 97,600 276,617 107,1*88 59,589 90,71*2 88,227 176.725 Bonds 6,325,000 1*25,057 1,516,11*2 1*51,652 606,186 1*10,61*1 316,991 898,1*22 31*9,112 195,51*1 29l*,721 286,552 573,983 Total Ug»,GoH7ernment t securities 20,592,361* 138l*,505 1*,957,685 11*70,915 I97l*,l92 1557,551 1052,558 2925/930 1136,967 630,-315 959,831 955,226 1869.515 Total loans and secui~ities 20,911*.028 11*06,293 5,030,226 11*90,515"1999,1*22 1359,230 10l*l*,5l*9 2985,182 1159,059 63l*,363 978,772 939,196 1887,221 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 : 10l*»385 ; l*,96l 17,1*08 5,111 5,702 12,319 10,216 ll*,323 8,955 5,801 6,1*76 1*,090 11.01*5 Uncollected items .2.509,031*-. 231-,1*70 1*87,926 169,519 27I*,509 199,805 151,906.371,583 107,770 61,528 132,880 116,200 203,958 Bank premises 32.6J7 1,218 8,173 5,H9 1*,876 2,603 ' l»5l*2 . 3',039 1V956 1,198- 2,1*27 781* 1,682 Other assets 170,509 11,611 1*0,535 11,792 16,505 11,116 8,61*1 2l*,093 9,7l*0 5*152 7,805 7,71*9 15.790 TOTAL ASSETS 1*6.036.8362551,892 12^1*3,1*71* 281*6,581 383l*,586 2660,260 2313,130'7832,536 1915,118:1157,737 1951,195 1615,705 l*95l*,62l* 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.l+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 26, 19U8 L I A B I"L I T I E-§ (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 25,587,'925 la22,295 5,1*12,755 1617,288 2065,655 l6oh,5^h 1509,994 4493,928 1075,487 609,339 911.275 588,1+56 21+76,939 Deposits: :•- Meafcer bank-reserve acct. 16,901,067 705,083 5*447,212 822,511+ 121*9,985 713»53U 723,686 2579,89!* 6l0,Q81 1;00, 063 791,696 800,502 2055,917 U.S.Treasurer-general acct. 1,787,560 "158,498 458,475 166,544 186,615 97,777 75,163 271,101; 81,219 62,851; 71,880 77,838 77,795 Foreign ,372,298 22,327 i/i3'i-,92l 28,617 52,503 1177,,331122 li1t4,1,1*+8855 UU88,,00uli99 1122,7,71199 8,833 12,365 12,012 31,155 other •'•U15.807 UhJi 559,269 1,577 5,993 2 =0° 861 2,559 5,101; 1 ,445 U.CIO 518 35,9-55 Total deposits 19,1476,752 887,379 6,396,875 1021,052 1475,101 831,215 61u ,195 2901,606 710,023 1473,195 876,369 890,870 2198,852 Deferred availability items 2,222,5&1+ .. 194,447 1+05,007 11+8,256 221;, 527 166,277 156,840 335,619 101,255 55,322 115,466 109,257 192,353 Other liabilities including accrued dividends 17,883 1,05c "5,296 1,099 1,895 951 77 A 2,527 771 <5u9 663 777 1,529 / 1 <-' TOTAL LIABILITIES h5,505,121; 2505,179 12,217,955 2787,675 376/, 176 7733,630 1367. 1138,405 1903,773 1589,360 1+869,655 Capital paid in 198,120. 11,511 69,128 l4,5li6 18,976 8,1.1+3 7,7'47 24,102 6,517 a,361; 6,777 7,651 18,578 Surplus (Section 7) 448,189 '28,117 •138,59o 35,350 U2,173 21,210 19,110 66 2r? lA 07P 11,235 16,11+8 ll;,lll 58,952 Surplus (Section 13b) 27,5a3 3,0.11 7,319 4,4«9 1,006 5,349 762 l,ii29 521 1,075 1,137 1,307 2,11+0 Other capital accounts 57/860 '4,27a 10,498 4,521 5,2 55 4,501 3,712 7,106 3,574 2,662 3,360 5,294 5,301 TOTAL LL'xB-ILITISS AND CAPITAL ACCOUNTS 46,036,^56 2551,892 12,4.1,5,474 284c,58l 3834,586 2660,26o 2313,150 7532,556 1915,11s 1157,757 1931,195 1615,703 4934,621; Contingent liability on bills purchased for foreign correspondents 2, -..on 20S 2/1,056 •ZN: 1 AP 135 f-iO 119 p.^ 11c; 11: pan '—' t Commitments to raake industrial y , > ~ ^ loans 6,634 75 316 1,266 131 16 353 V/50 127 F. R. notes outstanding i m i^-'O. opQ 'C^; O^^ -!;^" 59 p in- ^Pn ),P£ pc;po cnn Collateral for F^R.notes i -*+ * '-i-^ -u^ ^>' > y J held by FJR Ag6nts- # Gold certificates 15,229,000 460,000 4,470,000 550,000 735,ooo 625,000 675,000 2,700,000 315,000 200,000 260,000 169,000 2050,000 Eligible paper 105,528 12,099 "-.39,903 6,325 -- 15,120 -- -- 16,440 ^125 13,426 4,090 U # 3» Govt* securities 12,225,000 1100,000 1,300,000 1200,000 1500,000 1075,000 750.000 1900,000 950,000 150,000 700,000 500,000 800,000 '"MATURITY DISTRIBUTION OF LOANS AID SECURITIES Within 16 to ol t; c 91 days to ,6 months 1 to 2 2 to 5 Over 3J. to Total 15 days 30 days 90 days 6 months to 1 year years years 5 years 60 days Discounts and advances 320,757 167,197 ' 50,575 61,261; 61,697 6 18 Industrial loans 887 545 kk 111 155 68 4 111 16 U.S.Govt, securities 20,592,381; 2,505,259 1,590,1+41 4,926,694 2,197,137 2,.17 5,667 i,393,ooo - - 1,158,651 5,065,535 l/After deducting $2l±Q ,21+L, C par u] ii^aticns of other Federal Reserve Banks• 2/ After deducting $2,21^,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis