H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released for Publication Friday morning, November 5,l9lj8) H.lul November k, 19^8 CONDITION OF THE FEDElAL RESERVE BANKS During the week ended November 3 member bank reserve balances decreased $lli|.,000,000* Reductions in member bank reserves resulted from an increase of $163,000,000 in money in circulation and a decrease of $63,000,000 in Reserve Bank credit, offset in part by decreases of $51,000,000 in Treasury deposits with Federal Reserve Banks, $1^6,000,000 in nonmember deposits and other Federal Reserve accounts and $5,000,000 in Treasury cash and increases of $11,000,000 in gold stock and $3,000,000 in Treasury currency. Excess reserves of member banks on November 3 v/ere estimated to be approximately $880,000,000* Holdings of loans, discounts and advances increased $20,000,000 while United States Government securities decreased $3,000,000. The decrease in holdings of United States Government securities reflects an increase of {j;!^, 000,000 ^n bonds and decreases of $388,000,000 in bills, $1/7,000,000 in notes and $22,000,000 in certificates* Changes in member bank reserve balances and related items during the week and the year ended November 3* I9I48, were as follows: Increase or decrease sines November 3* October 27, November 5# I9I18 I9I48 19^7 (In millions of dollars) U.S. Government securities 23,239 - 3 +1,120 Loans, discounts and advances 321 + 20 + 115 Other Reserve Bank credit - 8U - H16 169 Total Reserve Bank credit 23,729 - 63 +1,089 Gold stock 2!i,007 + 11 +1,671 Treasury currency i+,578 + 3 + 27 Member bank reserve balances 19,81*6 - 11I4. +2,758 Honey in circulation 28,25k + 163 - 381 Treasury cash 1,317 - 5 7 Tre-i.vuiy deposits with F R Banks # # 1,^73 - 51 + 5U7 Nonmember deposits and other F.R.accounts 1.U25 - U6 - 129 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.i*.l(a) OF THE TiELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov. 3, Oct. 27, Nov. 5, 19^8 19U8 19U7 A S S E TS Gold certificates 22,116,1*29 17,998 +1,703,759 Redemption fund for F. R. notes 629*302 1,658 - 50,261* TotaL gold certificate reserves 22,71*5,731 ; 16,3^0 +1,653,1*95 Other cash 253,921 23,551 5,116 Discounts and advances 320,068 19,75k + 116,1422 Industrial loans 931 205 986 Acceptances purchased 1,369 U. S. Govt, securities? Bills 5,130,589 -387,562 -8,373,695 Certificates 6,159.819 - 22,250 - 907,986 Notes - 1*7, ooo 832,100 - 27,200 Bonds +1*51*, 007 11,136,689 •-10,1*28,999 Total U, S. Government securities 23,239,197 - 2,805 + 1,120,118 Total loans and securities 23,560,196 + 16,71*1* + 1,23U,185 Due from foreign banks 1*9 — - k6 F.R. notes of other banks 128,788 - 22,109 + 8,14*7 Uncollected items 2,555,1*77 -110,723 + 53,050 Bank premises 32,223 - hh - 985 Other assets 205,591 + 10,833 + 11*7,268 TOTAL ASSETS 1*9,1*81,976 -112,510 + 3,090,298 L I A B I L I T I ES Federal Reserve notes 21*, 113,1*95 +lU*,58ii - 1*29,881 Deposits: Member bank-reserve account 19,81*6,01*1* -113,922 + 2,758,1*79 U.S.Treasurer-general account 1.1*72,593 - 51,779 + 51*6,196 Foreign 1*63, X3U + 22,580 7,762 Other 1*22,701 - 21*, 306 28,802 Total deposits 22,201*, 1*72 -167,1*27 + 3,268,111 Deferred availability items 2,386,861 - 26,069 + 198,11*9 Other liabilities including accrued dividends 12,912 - 2,376 - 6,781 TOTAL LIABILITIES 1*8,717,71*6 81,288 + 3,029,598 C A P I T AL A C C O U N TS Capital paid in 200,091 71* + 6,239 Surplus (Section 7) 1*1*8,189 + 8*366 Surplus (Section ljb) 27,51*3 + 88 Other capital accounts 88,1*13 - 31,296 1*6,007 TOM, LIABILITIES AND CAPITAL ACCOUNTS 1*9,1*81,976 -112,510 3,090,298 Ratio of gold certificate reserves to deposit and F.R.note liabilities combined 1*9.1% Contingent liability on bills purchased for foreign correspondents 1,81*6 + 172 1,178 Commitments to make industrial loans 6,072 + 2 1,155 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.2*.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 3, I9I18 (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,ii6,li29 768,811; 7,018,82*9 1053,987 ll;51,loo 1055,552 1052*.878 2*561*,825 665,552* 2+68,000 825,52*0 595,9812855,7149 Redemption fund for F. R. notes 629,502 52.72*5 58,576 51,5^ 75*2*29 58,987 1*5,098 loU,l;62 2+5,12*1 25,257 56,1*05 26,929 2+6,959 Total gold certificate reserves 22,71*5,751 821,559 7,077.225 1091,501 15014,529 nil*,559 1079,976 1^69,287 708,695 2+91,257 861,72*5 622,9102902,708 Other cash 253,921 27,967 1*0.51*8 11,320 20,562 17,778 20,525 38,214* 10,51*1 li*,5l*8 10,297 13,321 28,1*70 Discounts and advances 320,068 17,379 &!*,755 25,721 51,151* 25,775 11*. 858 52,672 16,91*0 6,362 16,005 8,595 21,872 Industrial loans 931 879 52 U. S. Govt, securitiess Bills 5,130,589 322.2*79 1,230,221 366,1*78 1*91,870 355,207 257,2llt 756,^58 25l*,730 157,01*1 259. liil 252,512 509,158 Certificates 6,139,819 1*12,71*3 1,1*72,218 1*38,567 588,625 398:7>*5 307,307 8/2.,?95 538,998 187,955 286,183 278,250 557,355 Notes 832,100 55,957 199,525 59,1*57 79.773 54 i oL:0 1*1,716 iih.231 1*5,91*5 25,1*70 38,785 37,710 75,555 Bonds 11,136,689 71*8,653 2.670,577 795,l*9l4 1067,671* 723,L-oi 558,516 1552,590 6il*,890 5l*o,883 519,092 50j4,7Ql* 1010,955 Total U.S.Government securities "23,239.197 1559,812 5,572,359 1659,976 2227,91*2 1509,255 1165,055 5509,571* 1251*.561 711,5271085,201 1055,176 2152,955 Total loans and securities 25,560,196 1557,191 5,657,091* 1686,576 2259,096 1555,080 1179,891 5562,22*6 1271,501 717,6891099,206 1061,771 217I*,855 Due from foreign banks I+9 5 l/ 16 1* 1* 2 2 7 2 12 2 1* F.R. notes of other banks 128,788 1*,705 127,005 2*,058 8,899 20,627 8,1*70 18,626 6,2*72 15,259 7,905 6,728 13,056 Uncollected items 2,555,1*77 2o7,28l* 1*2*5,972 181,265 255,069 225,817 172,720 39L760 110,258 81,895 152,952 108,572 225,915 Bank premises 32,225 1,192* 8,065 5,061* i*,801 2,571 1,571* 3,021 1,92+9 1,182 2,392 76I 1,651 Other assets 205,591 15,905 1*8,661* l2*,268 20,187 15,199 10,559 29,093 11,51*1 6,299 9,602 9,560 18,936 TOTAL ASSETS 1*9,2*81,976 2635,806 13,291,587 2992,052* 2*070,92*7 2925,2*15 21+73,1*97 8312,282* 2120,959 1528,1502i2*2*,099 1825,625 5565,575 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,4.1(c) STATEMENT OF CONDITION OF THE FEDERAL REJERVE BANKS ON NOVEMBER 3, 1948 (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 24,113,495 1406,125 5,494,013 1645,017 2125,061 1689,597 1543,458 4574,507 1154,624 655,498 9Uo,267 650,063 21*99,285 Deposits: member bank-reserve acct. 19,846,044 852,642 6,3814,202 955,619 1471,205 845,807 826,574 5050,950 724,875 507,669 940,918 957,747 2592,058 U.3 .Treasurer-general acct. 1,1*72,593 128,017 208,744 159,881 140,505 95,516 89,419 168,855 105,158 89,784 85,752 91,721 153,463 Foreign 463,154 2^,551 1/198,067 51,566 55,852 19,095 15,978 52,999 14,029 9,745 !3»659 15 ,250 54,565 tther 422,701 5,765 ~5 57,n4 1,648 6,109 2,965 393 3,774 7,o4l 1,862 741 677 56,609 Total deposits 22,2o4,472 1008,975 7,148, 127 1106,714 1655,669 961,181 952,1695256,556 8ii9,105 609,0581059,050 1045,595 2596,475 Deferred availability items 2,386,861 169,214 415,150 180,291; 220,153 234,684 164,459 574,919 107,490 64',84l 155,450 121,647 200,580 Other liabilities including accrued dividends 12,912 675 5,221 784 1,512 624 528 1,917 550 421 528 617 1,555 TOTAL LIABILITIES 48,717,740 2584,989 15.058,5H 2930,809 4ooo,595 2886,.086 2U4o,594 8207,899 2091,767 1307,8182115,275 1795,722 5297,875 Capital paid in 200,091 n,54o 68,994 14,642 19,019 8,550 7,851 25,216 6,601 4,414 6,888 7,795 18,823 Surplus (Section 7) 448,139 28,117 158,596 55,550 42,175 21,210 19,110 66,217 16,972 11,235 16,148 14,111 38,952 Surplus (Section 13'o) 27,545 5,on 7,519 4,489 1,006 5,549 762 1,429 521 1,075 1,157 1,507 2,140 Other capital accounts 88,415 6,549 18,167 6,764 8,554 6,258 5,200 11,525 5,098 5,592 4,651 4,692 7,785 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,481,976 2635,806 15,291,587 2992,054 4070,947 2925,415 2473,497 8312,284 2120,959 1323,150 2144,099 1825,625 5565,575 Contingent liability on bills purchased for foreign correspondents 1,846 116 2/ 591 150 170 90 76 251 66 46 65 65 162 Commitments to make industrial loans 6,072 75 186 1,057 121 288 485 5,750 110 F. R. notes outstanding 2ii, 801,569 1471,728 5,655,962 1678,508 2188,088 1729,352 1591,224 4658,145 1164,805 645,501 960,757 662,731 2596,612 Col late rail for F. R. notes held by F.R. Agents: Gold certificates 13,279,000 460,000 4,770,000 550,000 755,ooo 625,000 575,ooo 2600,000 515,000 200,000 280,000 169,000 2000,000 Eligible paper 41,195 1,971 5,841 5,9io — 11,295 8,155 21*8 7,445 350 U.S.Govt, securities 12,300,000 1100,000 1,000,000 1200,000 1500,000 1150,000 850,000 2100,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF' LOANS AND SECURITIES ' Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 day3 30 days 60 days 90 days 6 months to 1 year vears years 5 years Discounts and advances 320,068 81,747 109,196 36,697 83,&i8 8,780 Industrial loans 951 716 15 llil 2 2 59 15 8 U.S.Govt, securities 25,259,197 1,115,982 897,866 2 , 3 1 3 ,^ 1,123,579 761,200 5,21*6,869 61*5,550 1,965,^91 9-171,198 l/ After deducting $2&i,996,000 participations of other Federal Reserve Banks # 2/ After deducting $1,255,000 participations of other Federal Reserve Banks m Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis