H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, August 20,19^8) PI.il, 1 August 19, I9I18 CONDITION OF THE FEDERAL RESERVE BAMS During the week ended August 18, member bank reserve balances decreased $231,000,000* Reductions in member bank reserves resulted from increases of $207,000,000 in Treasury deposits with Federal Keserve Banks, $96,000,000 in nonmember deposits and other Federal Reserve accounts and $13,000,000 in money in eircu~ lation, offset in part by increases of $61,000,000 in Reserve Bank credit and $20,000,000 in gold stock and a decrease of $2,000,000 in Treasury cash* Excess reserves of menber banks on August 18 were estimated to be approximately $770,000,000. Holdings of loans, discounts and advances increased $8,000,000 while holdings of United States Government securities decreased $15,000,000. The decrease in holdings of United States Government securities reflects decreases of $170,000,000 in bills, $32,000,000 in certificates and $8,000,000 in notes and an increase of Sl9lj.,000,000 in bonds. Changes in member bank reserve balances and related items during the week and the year ended August 18, I9U8, were as follows: Increase or decrease since August 18, August 11, August 20, 19^8 19^8 19^7 (In millions of dollars) U» S. Government securities 21,551 - 15 - 5U6 Loans, discounts and advances 302 + 8 + 61 Other Reserve Bank credit 272 + 68 - 26 Total Reserve Bank credit 22,125 + 61 - 511 Gold stock 23,708 + 2o +2,01*2 Treasury currency 14,565 + 1 + Ik Member bank reserve balances 17,603 - 231 +1,196 Money in circulation 27,979 + 13 - 260 Treasury cash 1,322 - 2 8 treasury deposits with F R* Banks 1,963 + 207 + 698 # Nonmember deposits and other F,R„accounts 1,531 + 96 - 80 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATElSNT 05'. CONDITION OF THE TTELVE FEDERAL EBUERVE BASKS COMBINED (In thousands of dollars) H.lul(a) Increase or decrease since Aug. 18, Aug. 11, Aug. 20, i?ko, 19U8 19U7 AS S E TS Gold certificates 21,827,670 + 15,999 +2,077,1*91 Redemption fund for F, E. notes a)? ,1163. +^,_001_ - 61*, 153 Total ?old certificate reserves 22;^ 07133 + 20*, 000 +2,013,338 Other cash 267.SL2 + 5.769 1,516 Discounts and advances 301,593 + 8,827 + 62,389 Industrial loans 688 1,106 + 53 U. 3. Govt, securities: Bills 7,15U,957 -170,355 -7,003,232 Certificates 5,128,1107 - 32,000 -1,721,309 llotes 1,857,600 - 7,500 +1,1*38, ?00 Bonds 7,1409,756 +6,690/066 Total U.S. Government s~e*curTti"es 21,550,720 - 15,507 - 51*6,175 Total loans and securities 21,853,001 - 6,627 - U8U.892 Due from foreign banks U9 53 F.E, notes of other banks 126,721; + 1,115 + 13,519 Uncollected items 2,81*7,211 +37lt,962 + 316,921 Bank premises 32,i;89 3 + 608 Other assets 159,607 + 5.61*1 + 102,330 TOTAL ASSETS 17,727,056 +1*00,857 +1,960,255 L I A B I L I T I ES Federal Reserve notes 23,862,61*8 + 16,005 - 299,183 Deposits: Leniber bank - reserve account 17,602,520 -231,656 +1,195,11*9 U.S.Treasurer-general account 1,963,3011 +207,01*6 + 698,21|8 Foreign 393,783 + 8,391 - 99,^26 Other 571,713 + 91,727 + 78,121 Total deposits 20,531,320 + 75,508 +1,872,092 Deferred availability items 2,575,01*8 +306,930 + 3U2,6Ul Other liabilities including accrued dividends 11,928 - 1,852 3,590 TOTAL LIABILITIES U6,98o,"9UU +396,591 +l,9H,96o C A c I T A L A C C O U N TS Capital paid in 199,226 37 5,952 Surplus (section 7) UU8,189 + 8,366 Surplus (oection 15b) 27,5U3 + 88 Other capital accounts 71,15U U.229 33,889 TOTAL LLiBILITIE* *iSD CArlTAL ACCOUNTS 1*7,727,056 +1*00,857 +1,960,255 Ratio of ;old cei*tificate reserves ; to deposit and F.K. note liabilities combined 50.5$ .lfo Contingent liability on bills purchased for foreign correspondents 1,820 51 2,212 Commitments to make industrial loans 6,190 62 762 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.li.l(b) STATELEMT OF CONDITION OF THE FEDERAL KEiKEVB BANKS OK AUGUST 18, 1948 fin thousands of dollars) A S S E TS Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis luinn. Kans.Cy. Dallas SanFran. Gold certificates 21,327,670 307,411* 7,009,702 H29,i|82 11*59,803 994,868 1018,2l*7 4312,139 612,1*27 467,800 790,427 532.089 2693,272 Redemption fund for F. R. notes 612,465 55,723 62,582 58,169 72,885 56.6U1* 35.846 95.899 45.556 22,1*10 54,709 26,234 u7,82l Total gold certificate reserves 22,440.155 361,11*2 7,072,284 1187,651 1532,638 1051,512 1054,093 4408,033 657,965 490,210 825,136 558,523 2741,093 ether cash 267,31*2 27,160 50,427 14.361 23,876 15,973 19,376 39,914 12,935 3,166 10,221 10,776 54,159 discounts and advances 301,593 18,120 93,378 20,279 28,741 22,39'2 19,026 32,li*7 16,990 6,323 lli,307 8,762 21,128 Industrial loans 683 376 258 54 - - U. S. Govt, securities: Bills 7,15U,957 480,985 1,715,628 511,078 685,947 464,673 558,693 1050,479 560,126 219,007 333,500 32li,254 650,582 Certificates 5,128,407 544,752 1,229,699 566.322 1*91,661 553.059 257,105 728,635 283.15U 156.976 239,040 232,414 465,5U2 ivoxes 1,857,600 124,875 445,419 132,688 178,088 120,61*0 93,127 263,943 102,564 56,859 86,585 84,185 166,627 Bonds 7,409,756 498,114 1,776,727 529.279 710,575 481,219 57l,li75 1052,357 4C9,H5 226,805 545.576 555,805 672,655 Total U.S. Government securities 21,550,720 1448,726 5,167,475 1559,567 2066,069 1599,591 1080,401 5095,944 1154,959 659,647 1004,501 976,656 1957,586 Total loans and securities"~ 21,855,001 1466,846 5,26o,35l 1560,022 2C95,o6s 11*22,037 1099,1*27 3128,091 1171,949 665,970 1018,308 985,418 1973,514 Due from foreign banks ^9 3 l/ 16 4 4 2 2 7 2 1 2 2 4 p.R.notes of other banks 126,721* 7,477 18,355 9,950 5,548 12,054 10,776 15,529 7,452 12,1*74 7,5lU 4,951 16,9^4 Uncollected items 2 "' " ^"'", n~"* "',! '"""' ""*"" "* "' ~~"* """ —"" "' ~ ~"" """" *"*~ ' "*" ""' •""" ~"! "" *~"' """ "^ "''", '—" ^""~ ""'^ Bank premises o'ther assets TOTAL ASSETS 1*7,727,056 2592,810 12,970,737 2981,381 3955,715 2764,1*24 2585,598 8052,646 1985,555 1261,411 2027,067 1706,01*2 5045,894 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.U.1(°) STATEMENT OF GOHDITI^p QF THE iiiDBRnLk Ebi^h.Vrj iiai\uu> oi« AUU'OOX 18, 19UO L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago Sto-Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 23,862,62*8 12*18,2*29 5,1473,108 163U.518 2109,880 1631,968 1316,803 2*559,585 1082,663 613,175 929,827 609,987 2482,705 Deposits ; iiemoer bank-reserve acct. 17,602,520 714.0,515 5,817.19U 818,558 1302,967 719,102 716,955 2732,1481 616,225 1*25,650 813,926 8214,1471 207l4,u76 U.S.Treasurer-general acct.l,963,30li 155,14-97 2*35,391 165,366 195,683 129,910 108,099 2ol4,l462 120,771 123,001 107,151 101,2142 116,731 Foreign 393,783 23,li35 l/l2*l,2*33 30,02*3 32*. 123 18,172* 15,207 50,1142 13,352 9,273 12,982 12,611 32,708 other 571,713 3,515 1405,908 103,811 6,063 1,938 577 2,734 <?Mi __ 1,573 5M 3Q.0li6 Total deposits 20,531,320 922,962 6,799,926 1117,778 1538,836 869,1214 6140,838 2990,119 755,775 559.1*97 931*, 652 938,852 2262,961 Deferred availability items 2, 575,02*8 202,987 1465,95k 168,2*12* 236,895 22li,iV75 193,199 399,627 118,3114 68,585 132*,059 129,625 232,911* Other liabilities including accrued dividends 11,928 836 2,972* 695 l»26l 623 552* 1,925 518 52L 517 558 1,076 TOTAL LIABILITIES 2*6,980,9242* 25U5,2li4 12,7141,962 2921,1405 3886,872 2726,190 2351,3914 7951,256 1957,270 122* 1» 61*8 1999,055 1679,022 2*979,656 Capital paid in 199,226 11,323 69,021 114,621 19^021 8,522* 7,796 224,711* 6,561 2*, 395 6,870 7,729 18,651 Surplus (Section 7) 2*2*8.189 28,117 138,596 35,350 1*2,173 21,210 19,110 66,2?,7 16,972 11*233 16.12*8 12*,ill 38,952 Surplus (Section 13b) 27,52*3 3,oil 7,319 2*,2489 1,006 3,32*9 762 1,1*29 521 1,073 1,137 1,307 2,12*0 .ther caoital accounts 71,151* 5,12*5 13,839 5,516 __6 JU 6j 4 l 5,151 Ju326_9.Q3Q ii,2Q9- —3*062 3*852- - .,3,873 6.2*95 TOTAL LIABILITIES AKD CAPITAL ACCOUNTS 2*7,727,056 2592,810 12,970,737 2981,381 3955,713 2762*,2*21* 2383,398 8052,62*6 1985,533 1261,2*11 2027,067 1706,02*2 502*5,89!* Contingent liability on bills purchased for foreign correspondents 1,820 115 2/ 582 1I47 167 89 75 22*7 66 2*6 62* 62 160 )omnutEients to sake industrial s , . „ loans 0,1 nf 90 7 c 5 - - , 1 * 97 1,108 12*9 16 2*78 3,750 11 5,637,692 1683,507 2171,958 1688,723 1362,123 2*633,725 1120,079 629,880 953,2*51 62*3,726 2585,08 . R. notes outstanding 22*, 585,731 12*75,785 Collateral £cv F. R. notes held by F. R. Agents? l*,770,ooo 550,000 735,ooo 625,000 675,000 2760,000 315,000 200,000 280.,000 169,000 2,000,000 Gold certificates 13,539,000 2*60,000 18,789 1,2*30 - - 10,690 - - - - 8,613 505 6,162 650 Eligible paper 50,299 3,2*60 1*000,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 2*50,000 700,000 500,000 800,000 U.S.Govt, securities 11,925,000 1100,000 HATURITY DISTRIBUTION OF LQA3S AIID SECURITIES V/ithin 16 to 3i 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 301,593 72,280 103,82*3 63,057 62.1*13 Industrial loans 688 559 32 17 21**66 2 6 12* 12 U.S.Govt* securities 21,550,720 l,922*»9Ul 1,961,622 3,732,272* 1,552,787 2*80,800 2*,2*88,5l*0 1,162*,156 6,21*5,600 1/ After deducting $252,212,000 participations of other Federal Reserve Banks, 2/ After deducting $1,238,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis