H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, August 6,19ii8) H.lul August 5, 19^8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August i*, member bank reserve balances increased $72,000,000, Additions to member bank.' reserves resulted from increases of $17^,000,000 in Reserve Bank credit and 19,000,000 in gold stock and a decrease of ^22,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $101,000,000 in money in circulation and $30,000,000 in Treasury deposits with Federal Reserve Banks. Excess reserves of member banks on August 1* were estimated to be approximately $780,000,000. Holdings of loans, discounts and advances decreased $1*5*000,000 while holdings of United States Government securities increased $169*000,000. The in crease in holdings of United States Government securities reflects increases of $1*02,000,000 in bonds and $161|, 000,000 in certificates and decreases of $31*7,000,000 in bills and $51,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended August ii, I9ii8, were as follows: Increase or decrease -since Aug h, July 28, Aug. 6, f 19U8 19^8 191*7 (In millions of dollars) U. S # Government securities 21,378 + 169 - 1+91 Loans, discounts and advances 283 - U5 4. 158 Other Reserve Bank credit 236 + 50 + 18 Total Reserve Bank credit 21,897 + 171* mm 31U Gold stock 23,679 + 9 +2 ,077 Treasury currency U.56U + 1 + 12 Member bank reserve balances 17,606 + 72 +1 ,197 liiOney in circulation 27,922 + 101 - 28k Treasury cash 1,330 + 1 — Treasury deposits with F R Banks 1,852 + 30 +1. 121* # t Nonmember deposits and other F^R.accounts 1,1*29 - 22 - 263 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TT;EL7E FEDERAL ioSSfiUVE BANKS COMBINED (In thousands of dollars) H«U.l(a) Increase or decrease since Aug. 1*, July 28, Aug, 6, 1948 19^8 19u7 ..II... I..I tl. ,1 K. ,-,!,» A S S E TS Gold certificates 21,791,671 + 7,001 +2,105,1*92 Redemption fund for F. R, notes 612,505 + 372 60,108 Total gold certificate resei-yes 22,'i*ol*\l76 +2,01*5,381* + 7,373 Other cash 272,058 + U.850 - 7,1*77 Discounts and advances 282,530 + 159.483 - 1*1*, 201 Industrial loans 598 1,081* 191 U. S Govt, securities: m Bills 7,33^,012 -31*6,669 -6,702,671* Certificates 5,121,707 +161*, 300 -l,561i,259 Notes 1,902,300 - 51,000 +1,533,000 Bonds 6,966,185 +1*02,261* +6,21*3,1*95 Total U»S» Government securities * " 21,378,201* +168,895 - 1*90,1*38 Total loans and securities 21,661,332 +121*, 503 - 332,039 Due from foreign banks 53 2*9 F # R. notes of other banks 120,1*95 - 11,980 + 1,1*70 Uncollected items 2,389,022 -21,505 + 2li*,l*32 Bank premises 32,433 50 557 Other assets + 7,821 147,573 + 93,776 TOTAL ASSETS 1*7,027,1U3 + 98,685 +2, 028,377 L I A B I L I T I ES Federal Reserve notes 23,806,903 + 31,555 - 320,178 Deposits: Lember bank - reserve account 17,605,901 + 72,306 +1,196,990 U.S.Treasurer-general account 1,851,532 + 29,71*8 +1,123,683 Foreign 337,941 + 10,770 - 161,909 Other hllj&k - 26^056 ~ k9,2su Total deposits 20,316,998 + 86,768 +2,109,1*80" Deferred availability items 2,153,526 - 71,038 + 196,1*90 Other liabilities including accrued dividends 12,261 - 2,357 1*1*7 TOTAL LIABILITIES 1*6,289.688 + 9U,928 +1.985.3U5 C A P I TA L Jl^C CO PH IS Capital paid in I99.II7 + 72 + 6, oil* Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section 13b) 27,51*3 + 88 Other capital accounts 62,606 + 3,685 + 28,561* TOTAL LIABILITIES AND CAPITAL ACCOUNTS hi, 027,11*3 + 98,685 +2,028,377 Ratio of gold certificate reserves to deposit and F. R note # liabilities combined 50.8? I/ o O - .2°/o 2.7fo Contingent liability on bills purchased for foreign correspondents 1,772 + 196 2,562 Commitments to make industrial loans 6,738 + 361* 122 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l*.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS Oil AUGUST 1*, 191*8 (In thousands of dollars) A S S E TS Total Boston New York Fhila. Cleve, Rich. Atlanta Chicago St.Louis Llinn. Kans.Cy. Dallas SanFran. Gold certificates 21,791,671 809,1*05 6,96l.9l;2 1008,71*1 11*29,870 1015.605 1028,651; 1*396»4H* 6o5,li2o Ii75.9li8 811,950 51*5,200 2708,51*6 Redemption fund for F. R. notes 612.505 55,931 65,1*07 57.511; 72,180 56.169 , 36,01*6 96.132 U5.608 22,U37 51*.761* 26,28u 1*7,903 Total gold certificate ^serves 22,i;ol*,l76 863,531* 7,025,51*9 1066,255 1502,050 107L772 1064.700 141*92,596 62*9,02* 1=96,585 3l*6,69l* 569,1*31*2756,529 other cash 272,058 25,923 50,51*5 16,555 26,067 15,829 20,530 1*1,787 12,806 7,650 9,71*6 10,875 55,911* discounts and advances 282,550 18,570 79,31*6 20,266 32.777 15,5-32 18, ll*7 52,167 IO.699 6.31*8 17,058 8,1*12 25,178 industrial loans CJQ ._ _„ 275 258 65 TJ. S. Govt, securities! B i l ls 7,583.012 1*96,653 1,771,510 527,721* 708,291 1*79,809 370,332 1068.570 389.091* 226,139 3i*!*,562 55u,817 670,661 Certificates 5,121,707 51*1*. 502 1,228,095 565,81*3 1*91,018 352,621; 256,766 727,753 282,781; 156,770 238,728 252,112 1*61;,93l* WoteG 1,902,500 127,880 1*56,137 155,881 182,571; 125,51*3 95,368 270,29!* 105,052 58,228 83,668 86,210 172,685 B°ndS 6,966,185 1*68,295 1,670,366 1*97,595 667.81*3 1*52J*12 3^9,236 939,811 56ii,62j. 215,228 521*,?Q1 515,700 632.569 Total U. S. Government securities 21,578,201* 11*37,130 5,126,106 1527,ol*3 2ol*9,551 1588,588 1071,752 5056,1*08 1161,531* 651*.565 996,1*59 968,339 191*0,61*9 Total loans and seSSHTies 21,661,332 11*55,700 5,205,1*52 151*7,531* 2082,566 ll*ol*,035 1089,899 3083,575 1172,235 660,715 1015.1*97 977,251 1965,827 Due fom foreign banks ^9 5 l/ 16 1* 1* 2 2 7 2 1 2 2 k r F.R.notes of other banks 120,1*95 7.852 lS,707 7.97U 5.1;35 12,266 8,726 16,1*33 5,353 10,307 7,207 1*,1*91 17,239 uncollected items 2,389,022 183,083 1*32,697 170,1*60 227,111 202,530 155,310 585,170 100,602 66,008 138,180 106,l;l9 223,1;52 Bank premises 52,1*55 1,203 3,115 5,09l* l*,8l*9 2,595 1,555 5,027 1,973 1,190 2,1;09 771 1,669 uther assets ll*7,578 10,023 3l*.6o2 10,186 ll*,59Q 9,1*91; 7,1*97 2o,765 8,1*82 k.566 6,955 6,753 13,689 TO?AL ASSETS 1*7,027,ii;3 251*7,131 12,773,1*85 2822,110 5862,672 2718,521 25l;8,ol*9 801*6,363 1950,979 121*6,800 2o2l;,688 1676,021; 5010,525 l/ After deducting $55,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF TIE FEDERAL RESERVE BANKS ON AUGUST 1*, 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 25,806,905 11*25,455 5,472,1*98 1629,506 2o?6,356 1616,267 1516,666 1*51*5,915 1082,275 615.565 928,572 605,662 2474,570 Deposits: Lember bank-reserve acct.17,605,901 754,552 5,807,439 806,022 1288,020 751,1*05 756,755 2751,465 598,452 429,244 805,874 855,258 2082,657 U.S.Treasurer-^general acctJ.,851,552 146,425 551,456 11*7,325 155,125 125,975 93,837 258,669 117,139 113.102 122,582 96,561 125,544 Foreign 587,941 25,254 1/157,790 29,764 55,828 18.017 15,076 50,007 13,257 9,193 12,869 12,502 52,404 410,390 2,196 6,598 1,844 530 2,275 4,961 4,365 658 426 56,098 Other 1171,6214 1,505 Total deposits 20,516,998 905.514 6,707,075 985,525 1481,569 880>239 846,178 5062,414 753,789 555,902 939,965 942,747 2276,485 Deferred availability items2,155,526 168.515 564,182 147,455 215,181 185,68a 155,084 556,071 106,567 57,626 128,015 100,565 192,805 Other liabilities including accrued dividends 12,261 855 2,950 704 1,566 651 5li5 1,846 566 402 555 616 1,065 TOTAL LIABILITIES 46,289,688 2500,117 12,546,685 2762,770 5794,672 2680,841 2316,473 7946,246 1923,197 1227,293 1997,083 1&9.389 4944,923 Capital paid in 199,117 11,525 69,006 14,611 19,055 8,522 7,787 2l;,620 6,569 4,395 6,862 7,724 18,645 Surplus (Section 7) 1*48,189 28,117 138,596 55,550 42,175 21,210 19,110 66,217 16,972 11,233 16,148 14,111 38.952 Surplus (Section 15b) 27,51*5 3,011 7,319 4,439 1,006 3,349 762 1,429 521 1,073 1,137 1.307 2,lii0 Other capital accounts 62,606 4,565 11,877 4,690 5,768 4,599 3,917 7,851 3,720 2,806 3,458 3,494 5,663 TOTAL LIABILITIES AND CAPITAL! ACCOUNTS 47,027,143 2547,131 12,773,485 2822,no 5862,672 2718,521 2548,049 8046,565 1950,979 1246,800 2024,688 1676,024 5010,523 Contingent liability on bills purchased for foreign correspondents 1,772 112 2/ 567 11*5 165 87 75 2U1 64 44 62 60 156 Commitments to make industrial loans 6,788 975 I98 1,114 IliO 16 U78 5,750 117 t. R. notes outstanding 24,550,205 1476,555 5,641,154 1676,182 2165,766 1669,560 1556,802 4624,458 1118,118 628,908 952,255 645,310 2579,379 Collateral for F. R. notes held by F. R. Agents? Gold certificates 15,539,000 460,000 4,770,000 550,000 735,000 625,000 675,000 2760,000 315,000 200,000 280,000 169,000 2000,000 Eligible paper 28,535 3,910 4,744 1.555 - 3,880 ~ - 2,522 550 8,894 2,700 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 OF LOANS AND SECURITIES T7ithin 16 to 51 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 282,550 55,285 93.911 42,979 82,717 9,640 Industrial leans 598 £i07 72 49 55 2 15 12 U. S. G<$vt. securities 21,578,204 1,666,777 1,562,616 4,659,540 1,822,146 516,100 4,385,040 ,152,091 5,814,094 l/After deducting $250,056,000 participations of other Federal Reserve Banks. 5/ After deducting $1,205,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis