H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BQA.RD OF1 GOVERNORS' OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, June U#I9U8) H.U.1 June 3 I9I48 # CONDITION OF THE FEDERAL RESERVE.BANKS During the week ended June 2 member bank reserve balances increased $193,000,000* Additions to member bank reserves arose,from decreases of $221,000,000 in Treasury deposits with Federal "Reserve Banks and $30,000,000 in nonmerhber deposits and other Federal Reserve accounts vand increases of $91,.000,000 in Reserve Bank credit and $1*8,000,000 in gold stock, offset in part by increases of $195,000,009 in money in circulation and $2,000,000 in Treasury cash* Excess reserves of member banks on June 2 v/ere estimated to be approximately $920,000,000 t Holdings of loans,, discounts,-and advances decreased.$82,000,000 while holdings of United States Government securities increased $91,000,000* The increase in holdings of United States Government securities reflects increases of $liUi,000,000 in certificates, $77,000,000 in bills and $11,000,000 in notes and a decrease of $li|0,000,000 in-bonds. Changes in member bank reserve balances and related items during the week a nd the year ended June 2, I9I18, were as follows: Increase lor decrease since June 2, May 26, June \x $ 19^8 19U8 19U7 (In millions of dollars) U # S/ Government securities 20,683 + 91 -1,077 Loans, discounts and advances 2U0 - -82 + 65 Other Reserve Bank credit 368 + 82. + 69 Total Reserve Bank credit 21,292 + 91 - 9U2 Gold stock 23,31+3 + no +2 ,"3 53 Treasury currency 1*,562 + A + l Member bank reserve balances 17,09k + 193 +1,173 Money in circulation 27,895 + 195 - 366 Treasury cash 1,335 + 2 - 31 Treasury deposits ^ith F,R # Banks 1,567 - - 221 + 91U Nonmernber deposits and other P.R^accounts 1,305 - 30 - 280 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF .THE TTJELVE FEDERAL JiBS'ZRm BANKS COMBINED (In thousands of doilairsj) H !i l(a) # # Increase or decrease s mc e June 2, May 26, June i*, \ I9JU8 191*8 191*7 A S S E T S. Gold certificates 21^55,170 +50,000 +2, k 3 0,1*92 Redemption fund for F. H.1notes ' 620,721 + 1 - 91,691 Total gold certificate reserves 22,075,69^4 +' 50,001 +2,338,001 GvJL >•• cash 21*5>?i*5 -35,076 + 15,1*86 D. v. ounts and advances 239,1.56 -81,301" + ' 65,71*0 l.r oostrial loans 906 + 21 791 U. 3 Govt securities 5 t t Bills 8,273,091 •+76,500 4,389,2114 Certificates it, 2 6?, 507 +11*3,511; -1,731,759 Notes 1,957,800 * 11, OCT "' +1,588,500 Bonds _6,182,786 -Ii40,2ll4 +5,1*55,396 Total U» S, Government securities 20,685,181 '+ 90,800 -1,077,077 v * Total loans and securities 20,923,5148 + 9,520 -'1,012,128 Due from foreign banks 1*9 53 F r R # notes of other banks 95,136 - 9,21*9 * 7,610 Uncollected items 2,61*0,713 +151, iAk .+ 2614,01*9 Bank premises 32,566 - U') + 562 Other assets I69,8d5 z_ 12k +" 120,351 TOTAL ASSETS 1*6,182,963 +1146,127 +l,73u,673 L I A B I L I T I E. S Federal Reserve notes 253,71*1,1* $0 +153,525 • 389,128 Deposits* Member bank -reserve account •17,0ok, 3 8)4 ++119933,,331177 +1,173,775 U«S Treasurer-general account 1,567,539 + 9114,336 0 Foreign ;)0 ?20 -- 3300,,007788 - 168,081* Other U11, '8 62 •• ••-- 33,,9911**55 - 31,210 Total deposits 19,H5,305 rr 66ooOOOO +1,835,317 Deferred availability items 2,272,692 --++ 5500,,110088 *+ 1914,627 Other, liabilities including accrued dividends I6,8l9 - i,o6U + 3,161 TOTAL LABILITIES h 5J4/4.6,766 +11,1,6i*2 _ +1,691* ,-a?7 C AP I T AL A C C O U N TS Capital paid in 198,226 + 106 + 6,766 Surplus (Section 7) 1*1*8,189 •+ 8,366 Surplus (Section IJb) 27,51*3 + 08 Other capital accounts 62,259 + 0579 + 2U,981 TOTAL LIABILITIES AND CAPITAL ACCOUNTS It 6,182,9-63 + 11*6,127 +1,731*, 678 Ratio of gold certificate reserves to deposit and F„ R. note liabilities combined 51.270 " + .1% ' 3.8% * Contingent liability on bills purchased 3,291 9 - 3,005 for foreign correspondents 6,603 • 31 .'+ 1,075 Commitments to make industrial loans Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.2*.l(b> STATEMENT OF CONDITION -OF THE FEDERAL RESERVE BANK SON .JUNE 2, 192*8 (In thousands of dollars) A S S E TS Total Boston New York Fhila. Cleve, Rich.' Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 21,1^5,170 85a,ou2 6,75a,l*96 1031,1+65 1395,950 1052,008 i050,.o65 1*210,721+ 590*318 1*66,563 763,2-09 510,939 2767,561 Redemption fund for ' ' F.E. notes 620,721* 5*1,731 67,269 57,2?7 73,152 55,573' 58,092 97,197 a5,90a 22,55a 5a,960 25,51), 1*3,701 Total gold certificate L : reserves' 22,075,89a 908,775 6,821,765 1088,712 11*69,132 1,107,5311083,157 u507,92l 6Uu,222 489,117 798,169 '-:556,455 2816,062 other cash '" 2^5,2^5 30,U58 1+5,190 11,893 25,021* 16,799 18,61*7 32,891 11,155' 5,216 8,77a 8,537 30,662 Discounts and advances 239,456 23,1*80 6k,082 17,925 2 ,6l9 14,158 11,196 30,152 12,21*2; 3,.975 Il+,191 7,2?0 16,166 4 industrial loans 9O8 - - - - 589 262 57 - - -- -- -- -- -- - - LL. S. Govt, securitiesj Bills 8,273,091 556,150 1,933,733 590,917 793,l4l 557,288 ;*ia,755 1175.507 456,782 253,231 385,617 57a,928 751,007 .Certificates 4,269,507 287,013 1,023,752 3oU,970 1409,516 277,279 21a,0a5 606,645 255,752 130,686 199,006 195,a89 587,57a Notes 1,957,800 131,611 1:69,445 139,8ii6 187,694 127,11*7 93,151 278,180 108,096 50,926 91,255 86,726 177,723 Bonds 6,182,786 1*15,652 1,462,520 U*l,657 592,7a4 l;Ql,555 309,961 878,500 5al,37o 189,^49 288,136 230,198 561,25k Total U.S.Government > - * ~J~iicurities 20,683,154 1390,406 i;,959..l55 H;77,Uoo 1982,397 I3a3,2li9 lo36,Qio 2938,83? lllil,980 655,092 964,064 957,5ai 1877,556 Total loans and securities ~ 20,923,5U8 lUl3#S&6 5,023,537 la95,9la 2007,7781357,a6a 1048,106 2968,934 H5a,222 637,067 978,255 9!*!*, 611 1393,721* f ^ue from foreign banks 1>Q 3 V 16 k 4 2 2 7 2 1 2 2 1* F.R.notes of other banks 05,136 a,871 I5,7a9 5,a68" 5,629 io,8a5 10,610 15,559 6,506 '2,754 , 5,71J0 3,750 12,107 Uncollected items 2,6a0,713 222,721* 555,155 175,105 263,673 233,836 160,188 1*14,579 112,566 63; 508 " 11*1,228 118,987 139,119 Bank premises 3? 568 1,216 6,154 3,119 h,87a 2,603 i,5a2 5,050 1,955 1,195 2,1*21 777 1,682 other assets i69,'so5 n,50l* 59,9a7 n,875 16,550 11,099 6>6s9 21;,005 9,7^ 5,11*9 7,801 7,761 15,663 TOTAL ASSETS 1*6,162,963 2593,1*57 12,1*37,515 2792,118 3792,664 271*5,076 2335,91*1 7764,776 191*0,170 ;206,937 l9a2,36o 1620,898 1*959,025 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.ii.l(c) STATEMENT OF CONDITION OF TIE FEDERAL RESERVE BANKS ON JUNE 2, I948 ; 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 25,741,450 1432,193 5,461,396 1622,974 2075,896 1615,929 1315,693 1*51^,097 1081,911 612,598 918,1+22 594,973 21195,363 Deposits: Member bank-reserve acct.l7,09li,38ii 721,193 5,532,290 795,6B 1231,221 756,156 739,617 2623,397 622,490 i;l6,706 790,301 808,0114 2007,356 U.S.Treasurer-general acct.1,567,339 156,623 356,929 136,376 167,037 121,842 80,1*49 142,208 90,880 96,419 82,009 71,567 65,000 Foreign 342,220 19,725 l/l2Q,692 25,272 28,704 15,288 12,792 u2,li32 11,232 / , O'JU 10,920 10,608 27,555 ether 411,862 1,975 ~ 35U,l?5 1,553 5,778 2,677 709 3,290 5,713 1,647 621; 818 32,903 Total deposits 19,415,805 899,516 6,373,236 948,8l;4 1432,74o 875,963 833,567 2811,327 730,315 522,572 883,654 691,007 2212,8Hi Deferred availability items2,272,692 213,607 1*21,658 160,019 2l!|,201 154,369 337,lil9 99,ii2o 53,86o 111,846 107,590 184,015 Other liabilities including accrued dividends 16,819 1*06? ii,u59 1,057 1,962 399 7H 2,1,36 755 489 694 793 1,467 TOTAL; LIABILITIES 45,^6,766 2546,308 12,260,799 2732,694 3724,799 2707,459 2304,390 7665,279 I9l2,4ei 1189,519 1914.316 1594,363 4693,659 Capital paid'in 198,226 11,311 69,175 u,5ub i3,97o 8,460 7,747 24,ioli 6,522 4,365 6,793 7,635 18,592 Surplus (Section 7} 1^8,109 28,117 133,595 35,350 42,173 21,210 19,110 66,217 16,972 11,235 16,148 14,111 38,952 Surplus (Section 13°) 27,543' 3,Q11 7,319 4,489 ijOOo 3,349 762 1,429 521 1,073 1,137 1,507 2,140 Other capital accounts , 62,239 h,6lQ 11,621; 4,839 5,710 4,598 3,932 7,747 3,754 2,797 3,466 3,402 5,680 TOTAL LIABILITIES,AND 12,1;67,513 2792,115 3792,664 2745,0762535,941 7764,776 1940,170 1208,967 1942,360 1620,898 4959,023 CAPITAL ACCOUNT&w * 1*6,182,963 2593,^37 Contingent liability, bn bills purchased for foreign cor res pendent's 3*291 207 2/ 1,053 267 ^0^ 161 ±3 j cj-t+u/ 118 115 112 290 Commitinents 'to make industrial loans 6,603 75 284 1,250 136 16 355 580 3,750 127 F. R notes outstanding 21;,48O^k^h li;7U,7uU r,. An 1 1, 7Q ^ 1 1 / "7 A^~l 630,975 945,100 622,642 2590,828 # Collateral for F. R. notes held by F.R.Agentsj Gold certificates 15,229,000 460,000 4,470,000 550,000 735,000 • 625,000 675,.coo 2700,000 315,000 200,000 280,000 169,000 2050,000 5,208 — 6,165 — — 6,59c 50 5,683 2,350 Eligible paper 55,927 13,589 13,292 U.S.Govt, securities 12,225,000 1100,000 1,300,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS ..AND SECURITIES V/ithin 16 to 31 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 239,456 68,593 46,229 73,320 3311,,449911 11 Industrial loans 908 595 38 171 6611 9 i 14 16 4 U.S. Govt, securities 20,683,184 2,047.330 3,582,580 2,577,606 22,,330088,,B85544 2,186,867 1,797,161 - - 1,138,651 5,044,135 l/ After deducting $212,160,000 participations of other Federal Reserve Banks, 5/ After deducting $2,238,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis