H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, October 22,19^8) H.Iul October 21, I9U8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 20, member bank reserve balances increased $70,000,000* Additions to member bank reserves resulted from decreases of $127,000,000 in money in circulation, $21,000,000 in Treasury deposits v/ith Federal Reserve Banks and $9,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $18,000,000 in gold stock and $2,000,000 in Treasury .currency, offset in part by a decrease of $98,000,000 in Reserve Bank credit and an increase of $9,000,000 in Treasury cash. Excess reserves of member banks on October 20 were estimated to be approximately $910,000,000* Holdings of loans, discounts and advances decreased $211,000,000 and of United States Government securities $111,000,000, The decrease in holdings of United States Government securities reflects decreases of $ii97*000,000 in bills and $11,000,000 in notes and an increase of $396,000,000 in bonds^ Changes in member bank reserve balances and related items during the week and the year ended October 20,l9l±8, were as follows: Increase or decrease since October 20, October 15, October 22, 19143 I9I48 19U7 (In millions of dollars) U S, Government securities # 23,192 - ill +1. ,U20 Loans, discounts and advances 290 - 211 + 163 Other Reserve Bank credit 387 + 22U — 62 Total Reserve Bank credit 23,86? - 98 +1 ,521 Gold stock 23,983 + 18 +1. ,758 Treasury currency h,57h + 2 + 22 Member bank reserve balances 19,910 + 70 +2; ,873 Money in circulation 28,157 - 127 - 112 Treasury cash 1,326 + 9 - 11 Treasury deposits with F R,Banks 1,530 - 21 + 922 # Nonmember deposits and other F.R,accounts 1,503 - 9 - 71 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COLiBINED (In thousands of dollars) H.l*.l(a) Increase or decrease since October 20, October 13, October 22, 19U8 191*8 191*7 A S S E TS Gold certificates 22,078,1*31 + 19,998 +1,793,761 Redemption fund for F. R. notes 630,961 60,819 Total gold certificate reserves 22,709,392 + 19,998 +1,732,91*2 Other cash 267,173 + 9,31*1 + ,12,0l*0 Discounts and advances 288,989 -210,718 + 1&*,202 Industrial loans 1,129 + 19 781 Acceptances purchased 2,122 U. S. Govt, securities: Bills 5,91*7.31*2 -1*97, ool* -7,617,51*2 Certificates 6,210,169 300 - 789,297 Notes 901,600 - 10,500 + 1*01,300 Bonds +396,1*1*3 +9,1*2/4,707 Total U.S. Government 10,132,397 securities - 111,361 +1,1*19,168 23,191,508 Total loans and securities 23,1*81,626 -322,060 +1,580,1*67 Due from foreign banks 1*6 1*9 F. R,notes of other banks 139.1*07 + 21*, d* 6 + 8,651 Uncollected items 3,151,063 +281;, 782 + 183,839 Bank premises 32,301* 5 970 Other assets 182,708 + 9,832 + 128,780 TOTAL ASSETS U9,963,722 • 25,981* +3,61*5,703 L I A B I L I T I ES Federal Reserve notes 2l*,ol*i,356 - 85,831 - 1*50,330 Deposits; Member bank-reserve account 19,910,036 + 70,133 +2,872,626 U.S.Treasurer-general account 1,530,366 - 21,051 + 922,801* Foreign 1*51*. 873 396 • 7,781 Other • 2,319 - 18,188 1*58,375 Total deposits 22,353,650 + 1*6,667 +3,785,023 Deferred availability items + 61,013 + 21*3,702 2,763,81*5 Other liabilities including accrued dividends Hi, 908 - 1,111* 5,856 TOTAL LIABILITIES U9,173,759 + 20,735 +3,572,539 C A P I T AL A C C O U N TS Capital paid in 199,985 17 + 6,191* Surplus (Section 7) + 8,366 1*1*8,189 Surplus (Section 13b) + 88 27,51*3 Other capital accounts 5,266 + 58,516 Ilk, 21*6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 25,981* +3,61*5,703 1*9,963,722 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 1*8. <& Contingent liability on bills purchased for foreign correspondents 1,271* 1 1,772 Commitments to make industrial loans 6,099 21* 1,21*6 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 OCTOBER 20, lgi|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 22,078,1*51 795*685 7,207,512 997,065 11*16,989 102l+,005 1010,568 1+285,721+ 61+5,822 1+87,065 806,1+07 577,299 2826,290 Redemption fund for F. R. notes 650,961 52,955 59,1^9 57,856 75,700 58,21+7 1*5,295 iol*,75i 1*5,219 25,285 56,1+66 26,991 1*7,109 Total gold certificate reserves 22,709,592 8l+8,62o 7,266,661 I05l*,901 11+90,689 1082,252 io55,86i 1+588,1+55 69l,ol+l 510,350 81+2,875 6oi+,290 2873,399 Other cash 267,173 26,128 1+5,016 12,617 21,751 17,867 21,1+01+ 1+1,1+28 11,282 13,1+1+3 11,1+61+ 11,973 32,800 Discounts and advances 288,989 17,676 83,075 25,99!+ 27,287 18,21+7 12,515 3l*,993 11,722 7,532 20,81+0 8,688 22,622 Industrial loans 1,129 — — 883 I92 5I+ 'dm 5u Govt, securitiesj Bills 5,9^7,51*2 399,807 1,1+26,061+ i+2l+,817 570,173 386,21+9 298,160 859,188 280,150 182,ol+l 277,211 269,527 573,955 Certificates 6,210,169 1+17,1*73 1,1*89,087 1*1*3,593 595,369 103,515 311,535 882,590 31*2,882 190,087 289,1+63 281,1+38 565,759 Hofc«s 901,600 60,609 216,187 61+,1+01 86,1+56 58,55U 1*5,200 128,107 1*9,780 27,597 1+2,021+ 1+0,860 81,81+5 BQnds 10,152,597 681,11+0 2^1+29,567 725,757 971,595 658,058 507,967 Ht59,692 559,^1*0 51Q,H*5 lt72,281 1+59,190 919,789 Total tJ.S. Government securities 25,191,508 1559,029 5,560,905 1656,568 2225,571 1506,15k 1162,662 5509,577 1252,252 709,868 1080,979 1051,015 2139,528 T ota1 loans and securities- 25,1+81,626 1576,705 5,61+5,978 1681,1+145 2250,850 I52l+,li55 1175,177 531*1*,370 121+3,971+ 717,200 1101,819 1059,703 2161,950 Due from foreign banks I+9 3 l/ 16 1+ 1* 2 2 7 2 1 2 2 1+ r.R.notes of other banks 159,1+07 5,1*78 1?,087 6,071* 8,555 21,288 9,31*6 17,158 7,880 15,516 8,171 6,206 18,850 Uncollected items 5,151,065 25l+,5l2 557,285 206,729 515,067 285,789 197,285 1*85,81+0 H+1,509 89,819 172,125 156,785 292,52!+ Bank premises 52,5ol+ 1,199 8,085 5,o69 l+,8io 2,578 1,579 5,027 1,955 1,185 2,598 76I+ 1,657 other assets 182,708 12,1+1+1 1+5,615 12,699 17,791* 11,61+2 9,175 25,885 10,519 5,595 8,1+69 8,292 16,786 TOTAL ASSETS 1*9,965,722 2725,086 13,5^1,71*1 2977,558 1+107,518 291+5,875 21+69,825 850l+,l70 2107,960 1550,909 211+7,519 181+8,015 5597,770 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.l*.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER So, 19^8 L I A B I L I T I E S (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans.Cy, Dallas SanFran. Federal Reserve notes 2ii,0ll,556 11*13,998 5,1*76,1*01* 1637,1*87 212^,505 1688,510 1332,1*1*8 1*570,218 1115*372 632,81*0 935,370 625,608 2^88,596 Deposits: member bank-reserve acct. 19,910,056 886,308 6,51*6,290 923,280 11*56,176 81*9,628 802,5252975,103 702,91*6 505,796 915,151 938,839 21*08,191* U.SL.Treasurer-general acct. 1,530 ,366 121,988 21*7,191 138,551 11*5,566 91,751 95,551* 166,576 106,831* 103,1*91 l02,ol*7 100,51*0 110,1*97 Foreign l*5l*,875 21*,1*88 1/190,501 51,1*85 55,760 19,01*6 15,937 52,863 13,993 9,718 13,601* 13,216 3l*,262 Other 1*58,575 2,539 59l*,678 1,716 5,81*8 2,118 1*28 3,169 5,71*7 2,596 769 521* 58,195 Total deposits 22,353,650 1035,373 7,578,660 109!*, 852 161*5,550 962,523 9ll*,2!*i* 3197,711 829,52) 621,601 1051,571 1053,119 2591,11*6 Deferred availability items 2,765,8i*5 22^,319 1*83.536 181,165 265,080 255,065 188,525 1*25,^ 151,865 71*, 931* 11*9,767 159,562 21*6,283 ,0ther liabilities including accrued dividends ll*,908 828 3,91*7 932 1,567 769 672 2,296 599 1*32 595 679 1,592 TOTAL LIABILITIES 1*9,173,759 2671*,518 13,51*2,51*7 291^,1416 1*051*,502 290l*,867 21*35,689 8196,169 2077,556 1329,807 2117,503 1818,968 5327,617 Capital paid in 199,985 11,31*0 68,979 11*, 61*0 19,008 8.529 7,825 25,218 6,601 1*,1*05 6,885 7,771 18,790 Surplus (Section 7) 1*1*8,189 28,117 138,596 55,350 1*2,173 21,210 19,110 66,217 16,972 11,255 16,11*8 11*, 111 38,952 Surplus (Section 15*0 27,51*3 3,011 7,319 1*,1*89 1,006 3,31*9 762 1,1*29 521 1,073 1,157 1,307 2,11*0 Other caoital accounts IH*,21 I 6 8,100 21*, 500 8,61*5 10,829 7,918 6,1*1*1 15,157 6,510 1*,39? 5,81*8 5,856 10,271 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,963,722 2725,086 15,581,71*1 2977,558 1*107,518 291*5,873 21*69,825 830l*,170 2107,960 1350,909 211*7,319 181*8,015 5597,770 Contingent liability on bills purchased for foreign correspondents l,27i* 80 2/1*08 105 117 65 52 175 1*6 32 1*5 1*3 112 Commitments to make industrial loans 6,099 75 182 1,075 121 500 1*86 3,750 110 F. R. notes outstanding 2l +3i 82i* i 7a0 11*69,712 5,667,01*7 1693,015 2i9l*,25li 1732,61*1* 1385,812 ^665,51*2 1157,150 61*6,100 957,597 655,917 26ol*,i50 Collateral for F. R. notes held by F. R. Agents j Gold certificates 15,279,000 1*60,000 ,770,000 550,000 755,000 625,000 575,000 2600,000 515,000 200,000 280,000 169,000 2000,000 Eligible paper 53,533 2,161 1*,015 l*,0l*6 ~ 6,180 2,786 1,175 12,220 950 U.S.Govt, securities 12,500,000 1100,000 ,000,000 1200,000 1500,000 1150,000 850,000 2100,000 950,000 1*50,000 700„000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Viithin 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 288,989 79,161* 13,155 127,706 58,958 10,006 Industrial loans 1,129 926 10 50 51* 2 60 15 12 U.S. Govt, securities 25,191,508 ,156,1*82 821,287 2,007,523 2,526,600 951*, i*oo 5,152,269 61*0,550 1,888,1*59 8,21*3,958 l/After deducting $261*,516,000 participations of other Federal Reserve Banks, 2"/After deducting $866,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis