H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF Tl$ FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, October 8,19148) H.U.I October 7, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 6, member bank reserve balances decreased $300,000,000* Reductions in member bank reserves resulted from a decrease of $21^6,000,000 in Reserve Bank credit and increases of $122,000,000 in money in cir culation and $13,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of i>6l4,000,000 in Treasury deposits with Federal Reserve Banks and an increase of $16,000,000 in gold stock. Excess reserves of member bank3 on October 6 were estimated to be approximately $510,000,000. Holdings of loans, discounts and advances decreased $61,000,000 and of United States Government securities $159,000,000, The decrease in holdings of United States Government securities reflects decreases of $1,030,000,000 in notes and $ItU2,000,000 in bills and increases of $1,052,000,000 in certificates and $281,000,000 in bonds. Changes in mem&er bank reserve balances and related items during the week and the year ended October 6, I9I18, were as follows* Increase or decrease since- October 6, September 29, October 8, I9U8 19U8 191+7 (In millions of dollars) U.S. Government securities 23.1U3 - 139 + 788 Loans, discounts and advances 297 - 61 + 18U Other Reserve Bank credit 267 - U6 - 116 Total Reserve Bank credit 23,707 _ 2U6 + 855 Gold stock 23,888 + 16 +1 ,796 Treasury currency ii,572 - 1 + 21 Member bank reserve balances 19,58ii _ 300 +2 ,Wi2 Money in circulation 28,202 + 122 - U30 Treasury cash 1.32U — - h Treasury deposits with F.R.Banks 1,596 - 6k + 687 Nonmember deposits and other F.R.accounts 1,163 + 13 - 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TYffiLVE FEDERAL REoEKVE BANKS COMBINED H.l*.l(a) (In thousands of dollars) Increase or decrease since Oct. 6, Sept. 29, Oct. 8, 19U8 19^8 I9kl - A S S E TS Gold certificates 21,990,1*31 + 2,761 +1,81*0,761 Redemption fund for F. R. notes 632,772 * 17,21a - 62,656 Total gold certificate reserves 22,623,203 +20,002 +1,778,105 Other cash 252,283 - 23,509 + 6,388 Discounts and advances 295,960 - 61,096 + 181*, 907 Industrial loans 1,057 + 1*8 795 Acceptances purchased 3,131 U. S. Govt, securities: Bills 6,532,979 -Wi2,U26 -7,1*52,203 Certificates 6,213,969 +1,052,1*00 - 9^9,297 Notes 912,600 -1,029,900 + 1*25,300 Bonds +8,763,613 9,1*83,503 +280,870 Totaj. U. S. Government securities 23,11*2,851 -139,056 + 787,U13 Total loans and securities 23,1*39,868 -200, lol* + 968,396 Due from foreign banks h9 1*9 F. R. notes of other banks 135,981 -17,739 + 11,303 Uncollected items 2,1*55,1*55 -302,238 + 38,751* Bank premises 32,309 29 936 Other assets 165,1*12 - 5,973 + H3,ll*5 TOTAL ASSETS i*9,lol*, 560 -529,590 +2,915,106 L I A B I L I T I ES Federal Reserve notes 21*, 076,710 + 81*, 651 - 1*56,1*78 Depositsj iwsmber bank-reserve account 19,583,771* -299,737 +2,1*1*1,803 U,S Treasurer-general account 0 1,595,529 - 61*, 378 + 686,102 Foreign 399,920 - 10,379 + 1*7,116 Other 1*66,763 • 12,681 - 17,165 Total deposits 22,01*5,986 -361,813 +3,157,858 Deferred availability items -256,606 + 151,65li 2,188,207 Other liabilities including accrued dividends 11*, 979 -_ ___9_6_6 5,293 TOTAL LIABILITIES 1*8,325,882 -53I*, 73k +2,81*7,71*1 C A P I T AL A C C O U N TS Capital paid in 200,000 11*1 + 6,281 Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section 13b) 27,5li3 + 88 Other capital accounts 102,91*6 5,003 + 52,630 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,101*, 560 -529,590 +2,915,106 Ratio of gold certificate reserves to deposit and F.R. note liabilities combined 1*9.1% 1.1% Contingent liability on bills purchased for foreign correspondents 771* 2,263 Commitments to make industrial loans 6,191 71 1,187 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.i*.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 6, 191*8 (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 21,990,1*51 810,393 6,986,310 1018,195 lit06,867 1055,610 1012,529 U567,801 638,37k 1*90,165 809,71*1 562,975 2855,675 Redemption fund for F. R. notes 652,772 55,158 59.905 53,152 75,990 57,598 1*5,500 105,028 1*5,296 25,521 36,520 27,051* 1*7,272 Total gold certificate reserves 22,625,205 865,551 7,01*6,215 1076,51*5 11*80,857 1111,208 1057,829 1*1*72,829 685,670 515,1*86 81*6,261 590,029 2880,91*5 Other cash 252,285 25,21*9 1*0,857 12,551* 21,021 16,215 18,656 59,057 10,61*8 12,087 11,051 H,79l* 35,156 Discounts and advances 295,960 16,5U0 92,058 22,1*66 50,972 15,697 H*,9l*7 55,195 12,706 7,895 12,1*70 11,791* 25,022 Industrial loans 1,057 805 200 52 U. S. Govt, securities: Bills 6,532,979 1*22,069 1,566,1*89 1*66,650 626,518 1*21*,281 527,519 950,091* 532,1*22 199,967 501*, 508 296,069 616,593 Certificates 6,213,969 1*17,727 1,1*89,998 1*1*5,861* 595,753 1*03,559 511,526 882,950 31*5.09? 190,201* 289,61*0 281,611 56!*, 085 Notes 912,600 61,51*9 218,825 65,187 87,1*91 59,268 1*5,751 129,670 50,587 27,93k 1*2,537 1*1,358 82,81*3 Bonds 9,1*85,505 657,506 2,275,926 677,392 909,161* 615,881* 1*75.1*26 131*7.1*63 523.602 2Q0,£7li 1*1*2,026 lt2Q.77lt 860.866 Total U.S.Government securities 23,11*2,851 1558,651 5,51*9,238 1655,095 2218,706 1502,992 1160,222 5310,157 121*9,503 708,379 1078,711 101*8,812 2121*. 387 Total loans and securities 23,1*59,868 1555,191 5,61*1,296 1676,561* 221*9,878 1518,91*1 1175,169 551*5,550 1262,209 716,27k 1091,181 1060,606 211*7,1*09 Due from foreign banks 1*9 5 1/16 1* 1* 2 2 7 2 1 2 2 1* F.R.notes of other banks 155,981 5.510 15,502 5,852 6,557 19,972 11,1*25 17,580 6,801 16,911 8,1*21 5,851 18,059 Uncollected items 2,1*55,1*55 181*, 051 1*21,567 161*. 612 252,91*1* 226,880 166,176 388,060 125,51*2 76,551* 151,862 106,095 215,111* 3ank premises 52,509 1,199 8,085 5,069 1*,811* 2,578 1,580 3,027 1,953 1,185 2,598 76** 1,657 O^her assets 165,1*12 11,225 39,598 11,551 16,01*5 io,5ltl* 8,233 25,587 9,312 5,01*0 7,821 7,521 15,355 TOTAL ASSETS 1*9,101*,560 261*5,759 13,211,131* 2950,091 1*011,900 2906,538 21*39,050 8289,297 2098,157 131*1,558 2118,977 1782,61*0 5309,699 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.iul(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 6, 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 24,076,710 1U17.060 5,500,797 1638,124 2130,855 1692,990 1333,189 4570,952 1103,867 633,769 939,142 624,805 2491,160 Deposits? iv-ember bank-reserve acct. 19,583,774 855,153 6,229,277 959,795 1426,099 863,874 819,910 3022,945 713,362 513,7U6 916,085 925,516 2338,012 U.S.Treasurer-general acct.1,595,529 130,20a 319,025 110,992 133,659 89,843 80,864 198,705 106,872 94,719 86,600 88,841 155,205 Foreign 399,920 21,470 1/ 168,137 27,605 31,354 16,699 13,973 46,349 12,269 8,520 11,928 11,587 30,029 Other £66,763 3,707 387,833 4,096 5,998 2,885 708 2,503 17,615 1,808 1,932 6I4 37,06U Total deposits 22,01*5,986 1010,534 7,104,272 1102,488 1597,110 973,301 915,455 3270,502 850,118 618,793 1016,545 1026,558 2560,310 Deferred availability items2,188,207 167,600 365,650 146,239 210,284 198,977 156,165 339,209 113,5Ul 67,696 133,197 102,039 187,610 Other liabilities including accrued dividends 14,979 799 3,839 921 1,725 787 646 2,219 665 517 587 714 1,560 TOTAL LIABILITIES 48,325,882 2595,993 12,974,553 2887,772 3939,974 2866,055 2405,U55 8182,882 2o68,l9l 1320,775 2089,471 1754,116 5240,640 Capital paid in 200,000 11,337 69,013 14,630 19,024 8,529 7,823 25,208 6,599 4,403 6,877 7,769 18,788 Surplus (Section 7) 448,189 28,117 138,596 35,350 42,173 21,210 19,110 66,217 16,972 11,233 I6,li;8 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 1,137 1,307 2,140 Other caoital accounts 102,946 7,301 21,648 7,850 9,723 7,195 5,900 13,561 5,854 4,054 5,344 5,337 9,179 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,104,560 2645,759 13,211,134 2950,091 4011,900 2906,338 2439,050 8289,297 2098,137 1341,538 2118,977 1782,640 5309,699 Contingent liability on bills purchased for foreign correspondents 774 49 2/248 63 71 38 32 105 28 19 27 26 68 Commitments to make industrial loans 6,191 75 262 1,084 124 300 486 3,750 110 *. R. notes outstanding 24,794,137 1470,838 5,673,897 1688,170 2194,593 1734,888 1379,934 4665,728 ll4o,888 646,430 961,977 649,152 2587,692 Collateral for F. R. notes held by F. R. Agents: Gold certificates 13,279,000 46o,ooo 4,770,ooo 550,000 735,ooo 625,000 575,ooo 2600,000 315,000 200,000 280,000 169,000 2000,000 Eligible paper 31,091 1,025 13,200 2,518 — 3,630 — — 3,770 1,748 3,850 1,350 U.S.Govt, securities 12,275,000 1100,000 1,000,000 1200,000 1500,000 1125,000 850,000 2100,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 1166 ttoo 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 Discbunts and advances 295,960 73,746 45,587 122,381 44,235 10,011 Industrial loans 1,057 844 20 42 67 2 56 14 12 U.S. Govt, securities 64o, 550 1,824,566 7,658,737 23,142,851 1,501,968 739,830 2,067,803 2,656,228 1,002,400 5,050,769 l/After deducting $231,744,000 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