H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, October 1, I9I+8) H l+.l September 30, I9I4.8 # CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 29 member bank reserve balances increased $1,190,000,0Q0« Additions to member bank reserves resulted from increases of $1,1+08,000,000 in Reserve Bank credit, $7,000,000 in gold stock and $3,000,000 in Treasury currency and a decrease of $3,000,000 in money in circulation, offset in part by increases of $22li,000,000 in Treasury deposits with Federal Reserve Banks and $5*000,000 in Treasury cash. Excess reserves of member banks on Septem ber 29 were estimated to be approximately $900,000,000. Holdings of loans, discounts and advances increased $1+8,000,000 and of United States Government securities $1,1+22,000,000. The increase in holdings of United States Government securities reflects increases of $793,000,000 in bills, $272,000,000 in certificates, $2^9,000,000 in'bonds and $98,000,000 in. notes, Changes in member bank reserve balances and related items during the week and the year ended September 29, 191+8, were as follows: Increase or decrease since September 29, September 22, October 1, 19U8 19)48 19U7 (In millions of dollars) U. S. Government securities 23,282 + 890 Loans, discounts and advances 358 + 1+8 + 200 Other Reserve Bank credit 513 - 62 - 68 Total Reserve Bank credit 23,953 +l,h0B +1,022 Gold stock 23,872 7 +1,917 Treasury currency U,573 + 3 + 22 Member bank reserve balances 19.88U +1,190 +2,850 Money in circulation 28,080 3 - JU79 Treasury cash l,32J t + 5 + 8 Treasury deposits with F.R.Banks 1,660 + 22ii. + 607 Nonmember deposits and other F.R.accounts U>50 + 1 - 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TYiELVE FEDERAL RESERVE BA1.:KS COMBINED H.lul(a) (In thousands of dollars) Increase or decrease since Sept. 29, Sept. 22, Oct. 1, I9k8 191*8 19^7 A S S E TS Gold certificates 21,987,670 +1,970,000 Redemption fund for F. R. notes 3, lit? - 89,538 Total gold certificate reserves 22,603,201 - 3,H0 +1,800,1; 62 Other cash 275,792 + l*,i*15 13,57li Discounts and advances 357,056 + 1*7,715 + 201,U03 Industrial loans 1,009 + 53 885 Acceptances purchased i*,053 U. S. Govt, securities} Bills 6,975,1*05 +793,163 -7,0?1*,121 Certificates 5,161,569 +272,200 -1,98k,297 Notes l,9ii2,500 + 98,000 +1,^65,700 Bonds 9,202,1^33 +258,607 +8,1*82, 7I* 3 Total U.S. Government securities 23,281,907 +1,1421,970 + 890,025 Total loans and securities 23,639,972 +1,1,69,738 +1,086,1+90 Due from foreign banks 1*9 1*9 F. R. notes of other banks 153,720 + 1,21*0 + 27,273 Uncollected items 2,757,693 - 219,7h6 + 1*5,606 Bank premises 32,338 ho 907 Other assets 171,385 __ 9,321 + 120,828 TOTAL ASSETS 1*9,6311,150 +1,201,785 +3,173,277 L I A B I L I T I ES Federal Reserve notes 23,992,059 i+,8i48 - 1+87,981 Deposits* Member bank - reserve account 19,883,511 +1,189,1*98 +2,81*9,630 U.S.Treasurer-general account 1,659,907 + 223,795 + 606,752 Foreign 1*10,299 + 9,098 + 90,11*6 Other h5h,Q82 3,171* - 57,1*1*9 Total deposits 22,1+07,799 +1,1*19,217 +3,1*89,079 Deferred availability items 2,1*1*1*, 813 - 217,566 + 110,108 Other liabilities including accrued dividends 15,9U5 11 - ?,82 9 TOTAL LIABILITIES 1+8,860,616 +1,196,81!+ +3,108,377 C A P I T AL A C C O U N TS Capital paid in 199,859 32 + 6,338 Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section 13b) 27,51*3 + 88 Other capital accounts 97,91*3 1*,939 * 50,108 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,631*, 150 +1,201,785 +3,173,277 Ratio of gold certificate reserves to deposit and F.R. note liabilities combined 1*8.7% - 1.6% 1.0% Contingent liability on bills purchased for foreign correspondents 771* 2 - 2,275 Commitments to make industrial loans 6,262 51+ - 1,132 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l*.l(b) STATEMENT OF CONDITIO! OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 29, I9I18 (In thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran^ Gold certificates 21,987,670 799,673 7,077,715 983,188 lUU,508 1013,560 1015,868 1*582,556 627,212 1*71.059 788,525 557,226 281*9*822 Redemption fund for P. R. notes 615,531 53,138 59,903 58,152 72,990 57,598 1*0,259 95,028 1*5,296 22,521 36,520 27,051* 1*7,272 Total gold certificate reserves 22,603,201 852,811 7,137,618 101*1,31*0 15H*,1*98 1070,958 1056,127 1*1*77,561* 672,508 1*93,36o 825,01*5 561*.280 2897,09!* other cash 275,792 26,1*72 1*9,280 li*,07i* 2*1,117 15,971* i ,66U 1*0,779 11,293 n.6Ul 12,713 12,637 57,11*8 9 Discounts and advances 357,056 18,301* 121,905 51,79** 28,995 25,99!; 15,50!* 59,678 16,237 6,992 16,050 10,598 25,577 Industrial loans 1,009 761* I99 1*6 - - U. S. Govt, securities: Bills 6,975,1*05 1*51,71*5 1,672,576 1*98,255 668,753 1*53,013 31*9,700 1030,21*9 509,531 215,509 325,129 516,118 686,851 Certificates 5,161,569 51*6,981 1,257,651 368,691 1*94,81*0 335,213 258,765 733,397 28l*,986 157,991 2l*o,585 233,917 1*68,552 Kotes 1,91*2,500 130,585 1*65,777 138,753 186,227 126,151* 97,383 276,006 107,251 59,1*58 90,51*2 88,052 176,531* nds 9,202,1*55 618,621* 2,206,578 657,530 882,257 597,61*5 1*61,51*6 1507,555 508,091* 281,677 1*28,935 1*17,01*5 855.369 Total U.S.Government securities 25,281,907 151*7,931 5,582,582 1665,027 2232,037 1512,023 1167,191* 331*7,207 1209,862 712,635 1085,191 1055,112 2167,106 Total loans and securities ~ 23,659,972 1566,235 5,7o!*,!*85 1695,585 2261,231 1538,065 1182,1*98 5386,885 1226,11*9 719,627 1101,221 1065,510 2192,1*83 Due from foreign banks ^9 3 l / l6 1* 1* 2 2 7 2 1 2 2 i* F.R.notes of other banks 155,720 9,077 17,525 7,511 7,989 19,825 10,61*7 20,1*28 6,607 18,1*80 9,l*9l* 5,571 20,768 Uncollected items 2,757,695 199,81*2 521*,1*00 190,1*71* 291,1*58 2i*8,101 162,656 1*05,519 129,259 75,285 152,21*1* ll9,l!*8 26l,5l*7 Bank premises 52,538 1,199 8,106 5,069 l*,8ll* 2,578 1,580 5,027 1,955 1,185 2,1*05 767 1,657 Other assets 171,585 11,1*65 1*0,800 11,685 16,56l 11,01*2 8,537 21*,221 9,696 5,H*3 8,095 8,206 15,938 TOTAL ASSETS !*9,63l*,i50 2667,102 15,1*82,030 2963,71*0 1*120,672 2906,51*1 21*1*1,691 8556,250 2057,1*1*7 1321*,722 2111,215 1776,121 51*26,639 l/ After deducting $33,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

lUul(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE-B*K8 Of-"SEPTEMBER 29V 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 23,992,059 lU.2,061 5,485,272 1639,U21 2326,788 1679.350 1327,1*50 2*560,51*0 1097,460 627,385 933,052 618,396 21|84,886 Deposits: Leifiber bank-reserve acct, 19,883,511 853,268 6,2*93,542* 9ii8,697 lit5b,668 828,2*03 603,958 3036,415 703,181 501,U*o 908,298 921,721 2U19,918 U.S.Treasurer-general acct. 1,659,907 ll*0,9Q4 277,622 118,868 191,324 117,613 92,883 222,88k 90,332 95,909 88,522 '80,630 142,416 ioreign It 10,299 22,510 1/167,313 28,941 32,872 17,508 lk,6h9 48,593 12,863 8,933 12,505 12,148 31,464 Other U5li,082 2,755" 387,147 1,722 5,020 1,712 1,088 3,025 8,1*33 l.Ulo 180 3,U77 38,113 Total deposits £2,407,799 1019,437 7,330,626 1098,228 1685,88ii 965,236 917,578 5310,917 814,809 607,692 1009,505 1017,976 2631,911 Deferred availability items 2,444,813 185,397 426,669 163,159 256,879 221,133 162,587 376,594 114,765 68,585 138,722 110,694 239,629 Cther liabilities including accrued dividends 15,9li5 848 2*, 158 965 1,715 846 728 2,512 660 461 633 769 1,652 TOTAL LIABILITIES 2*8,860,616 2617,743 13,246,725 2901,773 4049,264 2866,565 2li08,343 8250,563 2027,694 1304,121 2081,912 r/47,835 5358,078 Capital paid in 199,859 n,335 69,012 Hi,630 19,025 8,529 7,806 25,206 6,596 4,U03 6,877 7,768 18,672 Surplus (Section 7) 448,189 28,117 138,596 35,350 42,175 21,210 19,H0 66,217 16,972 11,233 16,148 14,111 38,952 Surplus (Section 13b) 27,5i*3 3,011 7,319 4,489 1,006 5,549 762 1,429 521 1,073 1,137 1,307 2,li*0 Other capital accounts 97,943 6,896 20,378 7,498 9,20-4 6,888 5,670 12,815 5,664 3,892 5,11*1 5,ioo 8,797 TOTAL LIABILITIES AND CAPITAL ACCOUNTS U9,634,150 2667,102 15,482,030 2963,71*0 1*120,672 2906,51*1 2441,691 8356,250 2057,1*1*7 I52l*,722 2111,215 1776,121 5426,659 Contingent liability on bills purchased for foreign correspondents 772* 1*9 2/ 248 65 71 58 32 105 26 19 27 26 68 Commitments to make industrial loans 6,262 75 506 1,091 12*0 500 1*87 3,750 113 P. R. notes outstanding 21*, 765,998 11*76,1*91 5,665,325 1683,681 2195,294 1728,560 1574,4954664,225 1158,570 642,248 960,360 61*7,158 2591,591 Collateral for F.R. notes held by F. R. Agents: Gold certificates 13,579,000 460,000 2*,770,ooo 550,000 735,ooo 625,000 675,000 2800,000 315,000 200,000 280,000 169,000 2000,000 Eligible paper 85,567 2,556 2*0,595 11,289 - - 13,290 - - - - 7,lol* 7,170 3,100 U.S. Govt, securities 11,975,000 1100,000 1,000,000 1200,000 1500,000 1125,000 750,000 1900,000 950,000 1*50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOAHS AND SECURITIES Yi/ithin 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 357,056 139,252 1*8,387 31,657 137,71*6 14 Industrial loans 1,009 803 33 13 80 2 51 15 12 U.S.Govt, securities 25,281,907 2,959,424 906,257 2,015,705 2,453,366 1,368,550 3,777,622 62*0,550 1,821*. 566 7,377,867 l/ After deducting $242,964,000 participations of other Federal Reserve Banks. 2"/After deducting $526,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis