H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF' THE FEDERAL RESERVE SYSTEU (Released for Publication Friday morning, June 25,19^8) fU.i June 2k, I9l|8 CONDITION OF TIE FEDERAL RESERVE BANKS During the week ended June 23 member bank reserve balances decreased $591*000,000 Reductions in member bank reserves arose from an increase of # $879,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by increases of $202,000,000 in Reserve Bank credit and $8,000,000 in gold stock and decreases of $16,000,000 in money in circulation, $1^,000,000 in Treasury cash and $1|7#000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 23 were estimated to be approximately $710,000,000 # Holdings of loans, discounts and advances increased $59,000,000 and United States Government securities increased $261,000,000* The increase in hold ings of United States Government securities reflects increases of $155*000,000 in bills and §108,000,000 in certificates and a decrease of $2,000,000 in bonds. Changes in member bank reserve balances and related items during the week and the year ended June 23, l9l|8, were as follows: Increase or decrease since June 23, June 16, June 2 5J 19U8 19^6 19147 (In milli ons of do liars) U. S. Government securities 21,010 + 261 - 572 Loans, discounts and advances 355 + 59 + 221 Other Reserve Bank credit 356 118 + 15 Total Reserve Bank credit 21,721 + 202 - 336 Gold stock 23,523 + 8 +2,31*9 Treasury currency h, 561 + 1 + 8 Member bank reserve balances 17,it 08 591 +1,327 l.Ioney in circulation 27,792 16 - 391 Treasury cash 1,317 1U - 12 Treasury deposits with i\ R* Banks 1,863 + 879 +1,221 Nonmember deposits and other F.R«accounts U25 hi - 126 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) HjiU(a) Increase or decrease since June 23, June 16, June 25, l?l& 19U8 I9i*7 A S S E TS Gold certificates 21,61*2,170 + 19,000 +2,1*12,991 Redemption fund for F. R. notes __ 6lG_S0k + 682 - 91,020 Tota^ s;cld certificate reserves 22,261,071* + 19,602 +2,521,971 271,252 + 8,1*13 + 31,317 Other cash 352,91*6 + 58,911* + 220,583 Discounts and advances + 571 + 1*66 Industrial loans 2,259 U, S, Govt, securities: Bills 8,395,^81 +15U,850 -5,987,520 Certificates li,505,007 +108,000 -1,597,259 N ote s 1,93!*,800 +1,565,500 Bonds 6,l7l*,786 - 2,000 +5,1*1*7,396 Total U. S. Government securities 21,010,071* +260,850 - 571,883 Total loans and securities 21,365,259 +520,155 - 350,831* Due from foreign banks 1*9 53 F.R. notes of other banks 111,719 - 8,591 + 10,876 Uncollected items 2,81*2,701 -607,91*3 + 31*8,671 Bank premises 32,5U6 19 556 Other assets 157,012 2 7 + 88,871* 9 TOTAL ASSETS 1*7,021,612 -267,826 +2,1*51,378 L I A B I L IT I ES Federal Reserve notes 23,669,U9l* - 19,338 - 39l*,86o Deposits: Member bank -reserve account 17,1*07,925 -590,896 +1,527,51*0 U.S,Treasurer»general account 1,863,370 +879,569 +1,221,551* Foreign 363,021* + 6,926 * 1*1,263 Other 1*65,222 - 58,71*1 - 1*6,357 Total deposits 20,098,1*1*1 +236,858 +2*1*61,271* Deferred availability items 2,1*86,751 -1*90,209 + 333,927 Other liabilities including accrued dividends 19,207 + 955 + 2,71*8 TOTAL LIABILITIES 1*6,273,893 -271,731* +2,1*03,089 C A P I T AL A C C O U N TS Capital paid in 198,1*1*7 88 + 6,659 Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section ijb) 27,51*3 + 88 Other capital accounts 73,51*0 <• 3,820 + 33,176 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*7,021,612 -267,826 T2^l5i,378 Ratio of gold certificate reserves to deposit and F, R, note liabilities combined 50.97$ 3.¥ Contingent liability on bills purchased for foreign correspondents 2,972 1 2,91*5 Commitments to make industrial loans 6,61*6 22 376 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEUEMT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUKE 23, 19^8 (In thousands of dollars) A S SE TS Total Boston Hew York Phila Cleve„ Rich. Atlanta Chicago St,Louis i;inn. Kans.Oy. Dallas SanFran, e Gold certificates 21,642,170 733,455 7,o64,575 954,078 1411,724 1025,119 1009,219 4554,452 581,977 457,285 748,447 512,445 2739.398 Redemption fund for F. R. notes 618,904 54,467 66,195 57,876 72,832 55,776 57,852 96,857 45*796 22,508 34,900 25.434 48,435 Total gold certificate reserre5~~ " 22,261,074 857,920 7,150,768 1011,954 1484,556 1080,695 1047,051 4451,505 627,775 479,795 785,347 557,877 2787,851 other cash 271,25?? 28,2o6 56,152 15,457 25,389 15,251 21,154 56,502 14,596 5,699 10,409 11,444 52,695 Discounts and advances 352,946 18,945 116,787 21*,858 50,618 28,640 20,655 56,820 19,675 6,025 12,375 8,590 28,480 Industrial loans 2,239 - - " ' 524 26l 54 1,400 U. S, Govt, securities? Bills 8,395,481 564,378 2*013,086 599,688 304,375 545,238 420,891 1227,625 428,814 256,976 591,522 580,475 762,117 certificates 4,505,007 302,845 1,080,220 321,792 431,395 292,573 225,849 640,107 21*3,736 137,894 209,983 204,163 408.950 Kotes 1,934,900 130,065 463,950 138,205 185,489 125,654 96,997 274,912 106,326 59.222 90,183 67,685 175,656 Bonds 6.174,^86 415.094 1,460,602 441,065 591,977 401,015 509,561 877,565 340,928 189,004 237,815 279.855_j6o,529 -T otal Uyg Goverrare nt a - securities 21,010,074 1412,382 5.037.838 1500,748 2oi4,236 1364,480 1055,298 5020,005 1125,304 643,096 979,301 952*154 1907,232 -Total loans and securities"" 21,365,259 1431,327 5,154,625 1526,130 2045,115 1595,174 1075,551 5056,825 1144,979 649.121 992,176 960,744 1955,712 Due from foreign banks 49 3 l / l6 4 4 2 2 7 2 1 2 2 4 F.H.notes of other banks 111,719 5,485 17,692 7,651 6,581 11,095 10,055 14,580 9,096 3,541 6,844 5,907 15,596 Uncollected items 2,842,701 21*0,826 506,990 183,495 281,925 21*7,265 178,055 421,919 115,852 76,558 160,344 135,498 291,218 Barak premises 52,546 1,213 8,154 5,107 4,871 2,596 l,54l 5,031 1,955 1,195 2,1*21 777 1,682 Other assets 157,012 10,806 51,350 9,528 15,075 8,851 6,852 19,156 7,857 4,112 6,222 6,545 12,560 TOTAL ASSETS 47,021,612 2555,789 12,906,247 2760,124 5861,816 2759,127 2340,019 8003,129 1922^108 1219,800 1961,765 1654,592 5077,096 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 JUNE 23, 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 SahFran. Federal Reserve notes 23,669,1+91* ll*29,828 5,1*30,011 1631,959 2081,396 1612,205 1309,501; ^505,099 1076,1*19 612,188 915,261+ 59U,261| 21+71,357 Deoosits• ifember bank-reserve acct. 17,1|07,925 736,966 5,819,306 79U,ll78 1232,3k5 725,885 7lU,801 2673,175 609,966 1+13,330 782,950 80l+,596 2100,12? U.S.Treasurer-general acct. 1,863,370 102,1+05 1*80,617 78„237 193,9^3 lWi,303 78,01+0 295,1+62 80,1+1+1+ 97,996 95,793 91,566 121+, 56I+ Foreign 363,921+ 22,51+7 l/l21,151 28,901 32,826 17,1*83 H+,629 1+8,525 12,81+5 8,920 12,1+88 12,131 31,1*78 Other 1+63,222 3,621+ "1+02,905 1,982 6,600 1,053 655 3,925 5,1+62 1,676 201 1*1*1 314,698 Total deposits 20,098,1+1+1 865,51*2 6,823,979 903,598 11*65,711* 888,721+ 808,125 3021,087 708,717 521,922 891,1+32 908,73U 2290,867 Deferred availability items 2,1*86,751 211,1+89 1*17,503 163,350 21+3,685 218,859 189,U33 372,707 107,726 65,315 126,160 123,725 21+6,779 Other liabilities including accrued dividends 19,207 1,155 5,61+9 1,169 2,036 971 81+6 2,765 773 51*2 7I+3 838 1,720 TOTAL LIABILITIES 1+6,273,893 2508,011+ 12,677,11*2 2700,076 3792,831 272o,759 2307,908 7901,658 1893,635 1199,967 1933,619 1627,561 5010,723 Capital paid in 198,1+1,7 H,3H* 68,912 ll*,5l*6 18,997 8,1*69 7,757 214,1+90 6,536 1*,371 6,813 7,61+0 18,602 Surplus (Section 7) 1*1+8,189 28,117 138,596 35,350 1+2,173 21,210 19,110 66,217 16,972 11,233 16,11+8 1U, HI 38,952 Surplus (Section 13b) 27,51+3 3,oil 7,319 1*,1*89 1,006 3,31*9 762 1,1+29 521 1,073 1,137 1,307 2,11+0 other capital accounts 75,51*0 5,333 ll*,27S 5,663 6,809 5,5l*Q 1*,1*82 9,335 h,hhh 5,156 l+,0l+8 3,973 6,679 TOTAL LABILITIES A*IX) CAPITAL ACCOUNTS * 1+7,021,612 2555,789 12,906,21+7 2760,121+ 3861,816 2759,127 23l+o,ol9 8003,129 1922,108 1219,800 1961,765 165!*,592 5077,096 Contingent liability on bills ourchased for foreign correspondents " 2,972 187 £/ 951 21+1 273 H*6 122 1+01+ 107 7k 10l+ 101 262 Commitments to make industrial loans 6,61+6 75 - - 3l*2 1,273 13I+ 16 353 580 - - 3,750 - - 123 F. R. notes outstanding 2l+, 1*62,336 11+71,967 5,655,1*36 l68U,li2o 2il+l+,557 1663,280 1355,862 i+580,901 1116,1*1*9 631,031 91*2,191 622,687 2593,555 Collateral for F.R. notes held by F. R. Agents: Gold certificates 13,529,000 1+60,000 J+,770,000 550,000 735,000 625,000 675,000 2700,000 315,000 200,000 280,000 169,000 2050,000 Eligible paper 92,090 l+,ll*0 1+1,387 5,823 - - 16,925 - - - - 11,215 150 1*,650 - - 7,300 U.S.Govt, securities 11,925,000 1100,000 1,0:0,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Viithin 16 to 31 to 61 to 9I 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 352,91+6 11+1,277 33,372 62,337 103,800 12,160 Industrial loans 2,239 1,927 17 157 102 2 1+ ll+ 16 - - U.S.Govt, securities 21,010,071* 1,1+1+9,371 1,195,261+ 2,329,637 3,1*61+,838 1,1,1+6,017 1,91+9,661 - - 1,133,651 5,036,135 l/After deducting $21+2 621+, 000 participatiens of ether Federal Reserve Banks, s 2/ After deducting $2,021,000 participations of ether Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis