H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, October 29,191+8) H.U.I October 28, I9I18 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 27 member bank reserve balances increased §50,000,000. Additions to member bank reserves resulted from decreases of $66,000,000 in money in circulation, $32,000,000 in nonmember deposits and other Federal Reserve accounts, $6,000,000 in Treasury deposits with Federal Reserve Banks and $4,000,000 in Treasury cash and an increase of $13,000,000 in gold stock, offset in part by a decx-ease of $72,000,000 in Reserve Bank credit. Excess re serves of member banks on October 27 were estimated to be approximately $880,000,000. Holdings of loans, discounts and advances increased $11,000,000 and of United States Government securities $50,000,000. The incx-ease in holdings of United States Government securities reflects decreases of $429,000,000 in bills, $48,000,000 in certificates and $23,000,000 in notes and an increase of $550,000,000 in bonds. Changes in member bank reserve balances and related items during the week and the year ended October 27, 1948, were as follows: Increase or decrease since October 27, October 20, October 29, 19k 8 19^8 19U7 (In mi 1lions of dollars) U # S. Government securities 23,242 + 50 +1,113 Loans, discounts and advances 301 + 11 - 74 Other Reserve Bank credit 253 -134 - 32 Total Reserve Bank credit 23,797 - 72 +1,008 Gold stock 23,996 + 13 +1,702 Treasury currency 4,575 + 1 + 23 iJember bank reserve balances 19,960 + 50 +3,101 Honey in circulation 28,091 - 66 - 428 Treasury cash 1,322 - 4 - 16 Treasury deposits with F. R # Banks 1,524 - 6 + 169 Nonmember deposits and other F.R.accounts 1,471 - 95 - 32 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands ot dollars) EU.l(a) Increase or decrease sj Lnce Oct, 27, Oct. 20, Oct* 29, I9k8 19U8 1947 A S S E TS Gold certificates 22,098,1+31 + 20,000 +1,735,761 Redemption fund for F. R, notes 630,960 1 * 50,750 Total gold certificate reserves 22,729,391 • 19,999 +1,G«5#011 Other cash g.77,472 + 10,299 + 10,801 Discounts and advances 300,311+ + n»325 - 72,71+3 Industrial loans 1,136 + 7 717 Acceptances purchased 1,810 U. S Govt securities: # # Bills 5,518,151 -1+29,191 -8,101+ ,133 Certificates 6,162,069 - 1+8,100 - 90l+,897 Notes 879,100 - 22,500 + 11+6,700 Bonds 10,682,682 +9,97U,992 +550,285 Total U S» Government f securities 23,2i+2,002 ++ 5500,,11++9911++ +1,112,662 Total loans and securities 23,543,452 ++ 6611,,882266 +1,037,392 Due from foreign banks 49 46 F t R # notes of other banks 150,897 + 11,1+90 + 19,398 Uncollected items 2,666,200 -l+81+,863 + 52,662 Bank premises 32,267 37 975 Other assets + 12,050 194,758 + 138,593 TOTAL ASSETS 49,594,486 -369,236 +2,91+2,836 L I A B 1 L IT I ES Federal Reserve notes 23,998.911 -U2M5 - 453.613 Deposits 5 Member bank-reserve account 19,959.966 + 49,930 +3,100,917 U«S # Treasurer-general account l,52l+,37-2 - 5,994 + 169,790 Foreign 41+0,554 - 14,319 9,736 Other 1447,007 ~ 11,568 - 19,304 Total deposits 22,371,899 + 18,249 +3,241,667 Deferred availability items 2,1+12,930 -350,9.15 + 82,512 Other liabilities including accrued dividends 15,288 380 - 6,0X1 TOTAL LIABILITIES 48,799,028 -374,731 +2,864,555 C A P I T AL A C C O U N TS Capital paid in 200,017 32 + 6,187 Surplus (Section 7) 1+1+8,189 + 8,366 Surplus (Section 13b) 27,5l43 + 88 Other capital accounts 119,709 5,463 + 65,640 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,594,486 -369,236 +2,942,836 Ratio of gold certificate reserves to deposit and F R note # # liabilities combined •1% < .795 Contingent liability on bills purchaseci for foreign correspondents l,67l* 400 » 1,355 Commitments to make industrial loans 6,070 29 - 1,292 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OCTOBER 27,1948 (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 22,098,451 798,781 7,156,517 1025,698 1405,910 1040,645 1021,611 4571,959 642,109 475,695 798,912 584,246 2800,570 Redemption fund for F. R. notes 650,960 52,934 59,149 57,856 75.700 58,247 45.295 104,751 45.219 25,285" 56,466 26,991 47,109 Total gold certificate reserves' 22,729,591 851,715 7,195,666 1081,554 1479,610 1098,892 1066,904 1+476,670 687,528 496,978 835,378 611,257 2847,479 Other cash 277,472 28,529 47,859 12,555 24,498 17,995 21,062 42,363 12,365 13,482 11,879 15,141 31,984 Discounts and advances 500,514 18,619 87,379 25,086 25,158 18,750 12,895 -37,622 15,616 6,412 15,780 8,625 28,372 Industrial loans 1,15^ 900 187 49 U. S, Govt, securities: Bills 5,518,151 557,946 1,323,152 394,161 529,026 558,576 276,643 811,215 272,485 168,904 257,205 250,076 518,964 Certificates 6,162,069 4l4,258 1.477,554 440,157 590,758 400,190 508,925 875,555 340,226 188,615 287,220 279,259 559,374 Notes 879,100 59,097 210,792 62,794 84,279 57.092 44,072 124,910 48,558 26,908 4o,976 39,84o 79,802 Bonds 10,682,682 718,155 2,561,515 765,064 1024,149 693,776 555,555 1517,881 589,825 526,986 497,930 484,128 969,742 Total U.S.Government securities "25,242,002 1549,414 5,575.013 1660,176 2228,212 1509,434 1165,193 3329,559 1251,072 711,413 1083,551 1053,505 2127,882 Total loans and securities 25,545,452 1568,055 5,660,392 1686,162 2253,557 1528,235 1178,088 5567,181 1266,688 717,825 1099,111 1061,928 2156,254 Due from foreign banks 49 3 l / l6 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 150,897 5,520 17,176 5,555 7,858 25,412 10,901 18,545 8,456 15,175 9,955 8,144 20,426 Uncollected items 2,666,200 199,055 484,854 174,869 255,059 229,554 171,612 425,182 124,098 78,970 155,718 125,120 246,551 Bank premises 52,267 1,194 8,085 5,064 4,805 2,571 1,574 5,028 1,952 1,182 2,599 764 1,651 Other assets 194,758 13,122 46,255 13,438 18,875 12,491 9.763 27,729 11.006 _^269_„— 9,107 9,1.1.5 . .17,860 TOTAL ASSETS 49,594.486 2666,769 15,460,261 2977,211 4044,224 2912,950 2459,906 8558,705 2111,895 1529,580 2121,547 1829,451 5321,989 l/ After deducting $35,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS GR OCTOBER 27, lgfce (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 23,998,911 1406,272 5,466,035 1636,833 2123,451 1683,665 1333,097 4559,503 1119,165 630,956 932,679 624,257 2482,998 Deposits: kember bank-reserve acct, 19,959,966 857,584 6,509,347 953,002 1413,842 846,425 827,358 3088,755 712,609 506,960 921,508 946,761 2375,815 U.S.Treasurer-general acct.1,524,372 136,577 243,093 144,681 154,314 105,182 76,362 168,166 112,392 91,122 85,785 97,321 102,877 Foreign 440,554 22,787 i/194,533 29,298 33,276 17,723 14,330 49,191 13,021 9,043 12,659 12,298 31,895 447,007 2,362 385,099 1,096 6,449 1,976 1,396 3,219 5,227 2,323 247 453 36,660 ?otal deposits 22,371,399 1019,810 7,337,072 1123,077 1603,331 971,306 920,446 3309,331 843,749 609,448 1020,199 1056,833 2547,247 Deferred availability items 2,412,930 189,093 412,133 147,365 237,277 215,858 171,275 373,746 117,442 67,479 137,777 118,406 219,529 Other liabilities including accrued dividends L5,23S 743 4,452 918 1,549 749 673 2,340 616 417 553 648 1,630 TOTAL LIABILITIES 48,799,023 2615,913 13,219,742 2913,693 3970,653 2371,578 2425,491 8249,920 2030,972 1300,300 2091,208 1300,144 5251,404 Capital paid in 200,017 11,340 68,986 14,640 19,008 8,529 7,830 25,218 6,601 4,407 6,887 7,773 18,793 Surplus (Section 7) 443,189 28,117 138,596 35,350 42,173 21,210 19,110 66,217 16,972 11,233 16,148 14,111 38,952 Surplus (Section 13b) 27,543 3,011 7,319 4,439 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 119,709 8,383 25,618 9,039 11,379 8,284 6,713 15,919 6,829 4,567 6,167 6,111 10,700 TOTAL LIABILITIES AND CAPITAL .ACCOUNTS. 49,594,486 2666,769 13,460,261 2977,211 4044,224 2912,950 2459,906 8358,703 2111,895 1329,530 2121,547 1829,451 5321,939 Contingent liability on bills purchased for foreign correspondents 1,674 105 -^536 135 154 82 69 223 60 42 59 57 147 Commitments to make industrial loans 6,070 75 165 1,075 121 238 436 — — 3,750 — 110 F. R,: notes outstanding 24,300,033 1470,063 5,650,471 1635,354 2135,517 1729,503 1386,697 4665,442 1153,519 644,656 960,451 662,618 2600,742 Collateral for F. R. notes held by F. R. Agents: Gold certificates 13,279,000 460,000 4,770,000 550,000 735,000 625,000 575,000 2600,000 315,000 200,000 280,000 169,000 2000,000 Eligible paper 43,350 3,211 8,315 5,275 — 5,870 — — 6,311 293 7,220 — 6,850 U.S.Govt, securities 12,300,000 1100,000 1,000,000 1200,000 1500,000 1150,000 350,000 2100,000 950,000 450,000 700,000 500,000 300,000 MATURITY DISTRIBUTION OF1 LOANS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 dayg 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 300,314 6% 083 14,334 133,237 53,659 30,001 Industrial loans 1,136 917 7 63 67 2 54 14 12 — U.S.Govt, securities 23,2A2,0O2 724,491 1,269,795 2,012,716 1,793,099 379,900 5,233,769 640,550 1,908,241 8,774,441 1/ After deducting ^245,956,000 participations of other Federal Reserve Br.nks. 2/ After deducting (? 1,138,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis