H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TIE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, July 16,I9U8) H*iul July 15, 19U8 CONDITION OF TIE FEDERAL RESERVE BANKS During the week ended July llj. member bank reserve balances increased $1*7,000,000. Additions to member bank reserves resulted from decreases of $183*000,000 in money in circulation and $3,000,000 in Treasury cash and an in crease of $9,000,000 in gold stock, offset in part by a decrease of $10i|.,000,000 in Reserve Bank credit and increases of $20,000,000 in Treasury deposits with Federal Reserve Banks and $22,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on July llj. were estimated to be approximately $950,000,000* Holdings of loans, discounts and advances decreased $82,000,000 and United States Government securities decreased $lii,000,000« The decrease in hold ings of United States Government securities reflects a decrease of $177*000,000 in bills and increases of $111,000,000 in bonds and $55*000,000 in certificates* Changes in member bank reserve balances and related items during the week and the year ended July ll±, I9I4.8, wore as follows j Increase or decrease since July lU, July 7, July 16, 1918 19^6 19J47 (In milTWis of dollars) U S Government securities 21,521 - Ill - 237 # # Loans, discounts and advances 317 - 82 + 216 Other Reserve Bank credit 301 - 8 - 88 Total Reserve Bank credit 22,139 - 10l| - 109 Gold stock 25,593 + 9 +2,159 Treasury currency + 12 U.562 Llember bank reserve balances 17,631 + hi +1,295 Money in circulation 27,959 - 183 - 266 Treasury cash 1,331 - 3 Treasury deposits with F, R Banks + 20 +1,105 # 1,861 Nonmember deposits and other F,Raccounts + 22 - 72 f 1,511 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) H.lul(a) Increase or decrease since July Hi, July 7, July 16, I9h8 191*8 191*7 A S S E TS Gold certificates 21,699,673 + 7,501 +2,22i*,U9l* Redemption fund for F, R, notes 615,060 _ 563 - 108,591 Total gold certificate reserves 22,311*, 753 + 6,938 +2,115,903 Other cash 251*, 509 + 30,209 + 1,011 Discounts and advances 315,775 - 81,895 + 216,1*22 Industrial loans 8l*0 1* 891 U. S. Govt, securitiesj Bills 8,311,331 -177,250 -5,732,391* Certificates 1*,931»U07 + 52,500 -1,687,859 Notes 1,957,800 +1,588,500 Bonds 6,320,519 +110,638 +5,59l*, 829 Total U. S. Government securities 21,521,057 11*, 112 - 236,921; Total 1pans and securities 21,837,672 - 96,011 21,393 Due from foreign banks 1*9 53 F. R. notes of other banks 121,858 + 22,1*27 3,956 Uncollected items 3,009,92ii +573,580 + 11*2,278 Bank premises 32,1*87 1* 539 Other assets 129,331 + 1*,1*87 ___7_8,_2_5_6 TOTAL ASSETS 147.700,583 +51*1,626 +2,312,585 L I A B I L I T I ES Federal Reserve notes 23,826,775 -133,268 - 323,531* Deposits: Member bank-reserve account 17,630,86k + 1*6,537 +1,29!;, 61*2 U.S.Treasurer-general account 1,861,300 • 2o,l6l +1,105,300 Foreign UU1,920 + 1,271* - 13,356 Other 1* 56,260 + 19,651 - 1*0,1*75 Total deposits 20,390,31*1* + 87,623 +2,3U6,ill Deferred availability items 2,709,0^2 +582,056 + 230,083 Other liabilities including accrued dividends il*,l*21* 931 + 3,620 TOTAL LIABILITIES 1*6,91*0,585 +537,31*2 +2,256,280 C A P I T AL A C C O U N TS Capital paid in 198,917 11*0 + 6,51*8 Surplus (Section 7) 14*8,189 + 8,366 Surplus (Section 13b) 27,51*3 + 88 Other capital accounts 85,31*9 + l*,il*l* + 1*1,303 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 1*7,700,583 +51*1,626 +2,312,585 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined ,1% 2.6°/o Contingent liability on bills purchased for foreign correspondents 2,358 287 2,699 Commitments to make industrial loans 6,1*18 11* . 1*89 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(b) STATEMENT CF CCNDITICN OF TEE FEDERAL RESERVE BANKS CN JULY 14, I948 (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 21,699,673 662,286 6,912,44c 1032,198 1472,710 loic,865 1037,734 43-49*f1?2 567,039 459,562 763,663 5l9ri?5 2692,969 Redemption fund for F. R. notes 615,080 54,156 64,876 57,618 72,406 55,466 37,522 96,ul2 45,674 22,46o 34,813 25,342 46,151 Total gold certificate reserves 22,314,753 916,422 6,977,316 1090,016 1545,116 1066,331 1075,256 4445,444 632,713 482,022 798,478 544,517 2741,120 other cash 254,509 23,125 47,115 13,545 22,147 14,932 21,875 39,006 12,852 7,073 9,501 10,170 33,118 Discounts and advances 315,775 19,638 110,242 22,781 27,.632 17,939 13,324 33,616 21,74? 5,975 lo,o49 8,254 24,578 Industrial loans 840 — — 524 261 55 U.S. Govt, securities* Bills 8,311,331 558,722 1,092,907 593,677 796,807 539,774 416,672 1216,043 421,792 254,400 387,-399 376,661 754,477 Certificates 4,931,407 331,510 1,182,463 352,250 472,774 320,265 247,226 700,693 272,278 130,9)45 229,858 223,487 447,658 Notes 1,957,800 131,611 469,445 i39-,846 187,694 127, iu7 98,151 278,160 108,096 59,926 91,255 88,726 177,723 Bonds 6,320,519 424,890 1,515,547 451,475 605,948 410,460 316,866 698,070 348,975 193,465 294,606 2&6,459 573,756 Total U.S»Government securities 21,521,057 1446,733 5,-160,362 1537,248 2063,?23 1397,666 1078,915 3094,966 1151,141 658,736 1003,118 975,3131953,616 Total loans and Jtux xoans ana securities' 21,837.672 1466,371 5,270,604 I56c,553 2091,116 1415,660 1092,239 3128,602 1172,388 664,?n 1013,167 983,5671978,194 Due from foreign banks ^9 3 1/ 16 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 121,858 6,36c T8,306 8,064 5,625 12,030 10,795 15,565 7,770 5,127 8,038 5,154 18,824 Uncollected items 3,009/924 234,144 563,561 202,058 296,806 253,441 162,530 506,729 139,350 81,657 154,638 139,048 255,762 Bank premises 32,487 1,213 8,135 3,107 4,858 2,599 1,538 3,029 1,950 1,193 2,415 774 1,676 Other assets 129,351 8.$97 30,757 8,635 12,419 8,315 6,547 18,586 7,454 3,923 6,090 5,655 n,975 TOTAL ASSETS 47,700,583 2656,635 12,915,792 2886,182 3978,291 2773,358 2390,782 8156,768 1974,979 1245,707 1992,529 1688,887504c,6?3 l/ After deducting $33,000 participations cf ether Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 14, I9I48 L I A B I L I T I E S (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy, Dallas SanFran. Federal Reserve notes 25,826,775 1159,505 5,470,262 1636,569 2099,726 1619,309 1315,105 it, 558,612 1082,22*2 6l4,2o4 921,187 601,155 2489,125 Deposits; Lieinber bank-reserve acct. 17,630,86b. 741,428 5,862,888 809,646 1290,809 742,829 753,595 2697,641 622,389 427,460 797,746 825,238 2059,397 U.S.Treasurer-general acct.3,861,500 180,630 332,920 164,803 190,548 107,982 86,621; 314,498 89,615 101,212 92,250 89,478 110,540 Foreign ui|l,920 26,699 l/l54,400 54,239 38,888 20,712 17,331 57,487 15,217 10,568 14,794 14,372 37,213 Other 456,260 4,545 "* 386,942 2,775 6,360 5,264 539 3,440 7,338 1,877 2^0 319 36,621 Total deposits 20,390,344 953,302 6,737,150 1011,463 1526,605 876,787 858,087 5075,o66 754,559 541,117 905,050 929,1407 221i3,77i Deferred availability items2,709,042 214,472 472,614 176,509 280,567 237,269 184,220 439,585 128,405 69,752 156,952 150,145 238,978 Other liabilities including accrued dividends 14.424 944 5,759 870 1,434 808 676 2,246 647 474 6o4 600 1,382 TOTAL LIABILITIES 46,940,585 2608,023 12,683,765 2325,211 3908,132 2734,173 2358,0.86 8053,507 1945,851 1225,527 1963,775 1661,283 4973,254 Capital paid in 198,917 11,322 68,995 14,588 19,035 8,512 7,782 24,.586 6,545 4,380 6,850 7,691 18,633 Surplus (Section 7) 448,189 28,117 138,596 35,350 42,175 21,210 19,110 66,217 16,972 11,233 16,148 14,111 38,952 Surplus (Section 13b) 27,-543 3,011 7,319 4,489 1,006 3.349 762 1,429 521 1,073 1,157 1,507 2,140 Other capital accounts 85,349 6,162 17,117 6,544 7,947 6,114 5,042 11,029 5,090 5,494 4,621 U,495 7,694 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,700,583 2656,635 12,915,792 2886,182 3978,291 2773,358 2390,782 8156,768 1974,979 1245,707 1992,529 1688,887 5o4o,673 Contingent liability on bills purchased for foreign correspondents 2,358 149 2/754 191 217 116 97 321 85 59 82, 80 207 Commitments to make industrial loans 6,418 75 — 200 1,237 142 16 478 4oo 5.750 120 F.R. notes outstanding 24,623,25U 1488,841 ,663,651 1692,769 2166,505 1680,992 1367,855 4628,757 1122,557 652,778 947,509 626,108 2605,174 Collateral for F.R. notes held by F.R. Agents; Gold certificates 13,519,000 460,000 4,770,ooo 550,000 755,000 625,000 675,000 2740,000 515,000 200,000 280,000 169,000 2000 y 000 Eligible paper 69,842 5,085 34,522 4,070 -- 6,320 15,451 200 1,964 4,250 U.S.Govt, securities 11,925,000 1100,000 1,000,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION CF LOANS AND SECURITIES Viithin 16 to 31 to 61 to 91 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 515,775 118,800 23,351 112,269 41,865 19,510 — Industrial loans 840 552 141 67 44 2 4 14 16 U.S. Govt, securities 21 ,521,057 1,726,205 1,143,752 2,875,306 4,763.955 367,550 4,523,990 — 1,148,351 5,172,168 l/ After deducting $287,436,000 participations of other Federal Reserve Banks. 2"/After deducting $l,6o4,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis