H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, August 13,19^8) H.U.I August 12, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 11 member bank reserve balances increased $228,000,000, Additions to member bank reserves resulted from increases of $167,000,000 in Reserve Bank credit and $9,000,000 in gold stock and decreases of $96,000,000 in Treasury deposits with Federal Reserve Banks and $6,000,000 in Treasury cash, offset in part by increases of ip44,000,000 in money in circulation and ip6,000,0Q0 in ncnmember deposits and other Federal Reserve accounts. Excess reserves of member banks on August 11 were estimated to be approximately U, 050,000,000. Holdings of loans, discounts and advances increased $11,000,000 while holdings of United States Government securities increased $188,000,000. The increase in holdings of United States Government securities reflects increases of $249,000,000 in bonds and $39,000,000 in certificates and decreases of $63,000,000 in bills and $37,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended August 11, 1948, were as follows $ Increase or decrease since August 11, August k, August 13, 19U8 19U8 19^7 (In millions of dollars) U. S. Government securities 21,566 + 188 - 464 Loans, discounts and advances 294 + 11 + 109 Other Reserve Bank credit 204 - 32 - 76 Total Reserve Bank credit 22,064 + 167 - 430 Gold stock 23^688 + 9 + 2,077 Treasury currency 4,564 + 13 Member bank reserves balances 17,834 + 228 + 1,406 Money in circulation 27.,966 + 44 - 257 Treasury cash 1,324 ~ 6 5 Trsa&ury deposits with F.R, Banks 1,756 - 96 + 703 Nonmember deposits and other F.R.accounts 1,435 - 187 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATELiliNT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) H»U.l(a) Increase or decrease since Aug, 11, Aug, k, Aug, 13, !9hB _^9V7 A S S E TS Gold certificates 21,811,671 + 20,000 +2,117', 492 Redemption fund for F, R. notes 608,i462 -4*o43 * 64,154 Total gold certificate reservea + 15*95T Other cash 262,073 - 9,985 6,666 Discounts and advances 292,766 + 10,236 • 109,561 Industrial loans 635 + 37 • 1,032 U, S, Govt, securities: Bills 7,325,312 - 62,700 -6,809,772 Certificates 5,l6o,4o7 + 38,700 -1,643,159 Notes 1,86^,100 - ^7,200 +1,1+95,800 Bonds 7,215, i-08 +2)49,283 +6,1+93,718 Total U,S, Government securities" 21,566,227 •188,025 1463,1+13 Total loans and securities 21,859*628 +198,296 - 354,884 Due from foreign banks 49 53 F.R, notes of other banks 125,609 + 5,111+ + 7,351 Uncollected items 2,472,249 + 83,227 * 91*228 Bank premises 32,492 + 59 + 616 Other assets 6,388 + 98,218 153,966 + TOTAL ASSETS 1+7,326,199 +299*056 +1,706,692 L I A B I L I T I ES Federal Reserve notes 23,81+6,61+3 + 39,74o • 898,125 Deposits: Member bank - reserve account 17,83l+, 176 +228,275 +1,1+05,910 U.S.Treasurer-general account 1,756,258 T 95*274 * 703*589 Foreign 385,392 - 2,5i+9 - 133,ij44 Other 1+79,3986. + 8,362 "643 Total deposits 20/1 ! + »W ^5 "» , M 8 12 +138,811+ H,975»2fe Deferred availability items 2,268,118 +114,592 - 15,726 Other liabilities including accrued dividends 13,780 * 1,519 354 TOTAL LIABILITIES Zj6,58U,35T +294,665 +1,661,007 C A P I T AL A C C O U N TS Capital paid in 199,189 72 + 5*989 Surplus (Section 7) 1+48,189 + 8,366 Surplus (Section 13b) 27,543 + 88 Other capital accounts 66,925 + 4*319 + 31*21+2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 47,326,199" +299*056 +1,706,692 ^-atio of gold certificate reserves to deposit and F.R, note 50,6^ *2% 2,8fo liabilities combined Contingent liability on bills purchased for foreign correspondents 1,769 3 2,1+22 6,252 364* 825 Oommitments to make industrial loans * August 4 figure revis ed Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 11, lgJ^S (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Gold certificates 21*511,671 8o6,ol+2 6,91+8,192 1025,655 ll+33»^96 1018,208 1051,022 i1.36I1.JU20 580,01+8 1+78,01+2 797,598 5l+i+»285 2781+.1+63 Redemption fund for F. R. notes 608,1+62 55,728 62,582 57,169 71,885 5l+.6itl+ 55,81+6 95,899 1+5,556 22,1+10 3l+,709 26,25!+ 1+7,820 Total gold certificate reserves 22 ,1+20,155 859,770 7,010,771+ 1082,821+ 1505,581 1072,852 1066,868 1+1+60,519 625,581+ 500,1+52 832,507 570,519 2852,285 Other cash 262,075 26,081 1+8,565 l!+,551 22,755 15,635 20,76k l+o,57i+ 12,500 9,028 9,782 9,561+ 52,61+8 Discounts and advances 292,766 18,295 97,51+8 26,929 51,165 li+,582 16,271+ 51,61+7 11,1+1+9 6,298 9,259 8,512 21,023 Industrial loans 655 512 258 65 U. S. Govt, securities: Bills ,325,312 1+92,1+37 1,756^+76 525,21+6 702,279 1+75,757 567,258 1062,805 581,1+12 22l+,221 51+1,1+J+O 551,975 666,01+6 Certificates ,160,1*07 31+6,902 1.237,375 568,608 l+9l+,728 535,137 253,707 735.252 281i,922 157,955 21+0,552 255,861+ 1+68,1+1+7 Notes ,865,100 125,580 1+1+7,217 155,221+ 178,807 121,127 93,503 265,008 102,973 57,039 36,951+ 81;,525 169,508 Bonds >215,l+08 1+85.01+9 JL#7?Q»l2g 515.597 691.71+1 1+63.598 561.730 1025.225 398.581+ 220,856 536,517 526,995 6^,995 Total U.S. Government securities "21,566,227 11+1+9,768 5,171,191 151+0,1+75 2067,555 11+00,599 1081,178 3086,263 1167,696 660,121 1005,223 977,359 1958,791+ Total loans and securities 21,859,628 ll+68,o63 5,268,539 1567,716 2098,978 il+15,2l+6 1097,1+52 3117,915 H79,ll+5 666,1+19 10lI+,l+62 985,371 1979,822 Due from foreign banks ^0 3 1 / 16 1+ 1+ 2 2 7 2 1 2 2 1+ F.R.notes of other banks 125,609 7,7l+3 15,1+81 7*679 5,51+8 ll,59l+ 12,520 15,572 6,986 11,253 7,150 5,056 19,1+1+7 Uncollected items 2,1+72,21+9 188,231 1+32,276 163,223 239,21+5 219,1+31+ 160,552 385,1+58 117,655 67,022 11+8,771 122,585 229,801 Bank premises 52,1+92 1,208 8,ll6 3,09!+ l+,81+9 2,593 1,592 3,027 1,971+ 1,190 2,1+09 771 1,669 other assets 155,966 10,1+92 56,61+7 10,626 il+,866 10,003 7,732 21,519 8,882 l+,61+0 7,556 6,810 ll+,l+l5 TOTAL ASSETS 1+7,526,199 2561,591 12,820,1+12 281+9,517 5891,806 271+7,1+07 2567,282 801+1,991 1952,726 1259,985 2022,219 1701,176 5110,087 l/ After deducting $55,QOO participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.li.l(c) STATEMENT OF CONDITION OF THE FEDERAL REoERVE BANKS ON AUGUST II, I9U8 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 23,8146,614.3 ll|22,762 5,1468,279 I632,68l4 2107,876 1620,211 1317,269 14551,8148 1083,530 614,596 951,682 6C9,7l42 21+86,361+ Deposits: ..ieraber bank-reserve acct»r7.«83l+,176 7l+8,8l+6 5,9C2,l4l42 858,577 1295,285 7l4l,770 73U.086 2755,858 609,772 li.37.787 821,891+ 83l+,599 2115,262 U.S.Treasurer-general acctl,756,258 139,314-7 279,389 ll+o,c63 159,587 120,050 lcl+,115 225,ll+o 105,295 116,7146 100,291 101,529 1&>»9C6 Foreign 385*392 25,001 1/157,71+2 29,1+81+ 55,1+88 17,856 ll+,92l+ ^4-9*501+ 13,10l4 9,100 12,71+0 12,576 52,095 Other 1+79,986 3,161+ ~ 1+16,889 2,562 6,212 2,161+ 1+11 2,789 5,476 1.536 223 1+03 38,157 Total deposits 20,1+55,812 9ll+,358 6,736,1462 1010,686 ll+9i+,370 881,820 855,536 3033,291 731,61+7 565,169 955,ll+8 91+8,907 2350,1+18 Deferred availability items2,268,118 176,282 58l+,566 ll+5,717 219,880 206,720 l6i+,112 55i+,159 109,119 59,161 126,980 115,171+ 206,21+8 Other liabilities including accrued dividends 15,780 799 3,30g 773 1,320 703 579 1,899 577 1.1+22 511 525 1.370 1J6..581+,353 2511+.201 12,592,609 2789,860 3823,1+1+6 2709,1+5!+ 2555.1+96 7941,197 192l+,675 121+0,51+8 199l+,321 l67l+,3l+8 5C1+1+.1+C0 Capital paid in 199,189 11*323 69,017 Il+,619 19,011+ 8,523 7,789 2i+,7l3 6,561 l+,595 6,867 7.729 18,639 Surplus (Section 7) 1+1+8,189 28,117 158,596 55,350 1+2,173 21,210 19,110 66,217 16,972 11,233 l6,ll+8 ll+,lll 38,952 Surplus (Section 13b) 27*543 3*011 7,319 i+,1+89 1,0C6 3,51+9 762 1,1+29 521 1,075 1,157 1,307 2,ll+o Other capital accounts 66,925 l+>939 12,871 5,199 6,167 l+*87l 1+,125 8,1+35 3*999 2,936 5*7a6 3*681 5*956 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+7,326,199 2561,591 12,820,1+12 281+9,517 3891,806 271+7,1+07 2367,282 801+1,991 1952,726 1259,985 2022,219 1701,176 5110*067 Contingent liability on bills purchased for foreign correspondents 1,769 HI 2/ 566 li+3 165 87 72 2l+l 61+ hh 62 60 156 Commitments to make industrial loans 6,252 75 562 1,108 li+6 16 1+78 — 3*750 117 F. R. notes outstanding 2l+,56l,891 l!+80,777 5,61+1,625 1678,911+ 2l6i+,8i+9 1672,615 1565,398 1+626,009 1122,571 629,897 954*276 61+3,855 2581,107 Collateral for F. R. notes held by F. R. Agents* Gold certificates 13,659,-000 1+60,000 i+,770,000 550,000 735,000 625,000 675,000 2760,000 315,000 200,000 280,000 169,000 2100,000 Eligible paper 38^875 5*635 19*081+ 8,080 — 2,880 — — 5*072 1+80 l,09l+ 550 U.S.Govt, securities 11*925*000 1100,000 1,000^000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 1+50,000 700,000 500,000 800,000 1*ATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 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 292^766 59r088 107,620 1+3*331 82,727 — — —. Industrial loans 635 l+'4l 78 26 56 2 6 11+ 12 U.S.Govt, securities 21 ,566,227 i,ei+J+„295 1,308,901+ i+,569,935 1,65B,345 1+98,800 l+,l+90,5l+0 — 1 ,162,156 6,053,252 l/ After deducting $2bfi,520*000 participations of other Fodoral Reserve Banks* *Z/ After deducting $1,203*000 participations of other Federal Reserve Banks# Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis