H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (For Immediate Release) November 12, I9I18 H.U.1 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 10 member bank reserve balances increased $101,000,000* Additions to member bank reserves resulted from increases of $200,000,000 in Reserve Bank credit and $90,000,000 in gold stock, offset in part by increases of $83,000,000 in money in circulation, $80,000,000 in Treasury deposits with Federal Reserve Banks, and $26,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves of member banks on November 10 were estimated to be approximately $950,000,000* Holdings of loans, discounts and advances increased $6,000,000 while holdings of United States Government securities decreased $95*000,000* The decrease in holdings of United States Government securities reflects decreases of $155,000,000 in bills, $20,000,000 in certificates and $9,000,000 in notes, and an increase of $87,000,000 in bonds* Changes in member bank reserve balances and related items during the week and the year ended November 10,19^8, were as follows* Increase or decrease since November 10, November 3* November 12 I9I48 I9I18 I9k7 (In millions of dollars) U« S« Government securities 95 +1 ,092 Loans, discounts and advances 6 *• 10I1 Other Reserve Bank credit 288 + 251 TotaEL Reserve Bank credit 200 + 1, 21*0 Gold stock 90 +1,655 Treasury currency 1 + 29 Member bank reserve balances 101 +3, 108 Money in circulation 83 - 372 Treasury cash • •»•» •»» 11 Treasury deposits with F* R Banks 80 + 329 # Nonmember deposits and other F ^accounts 26 131 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED H,l*.l(a) (In thousands of dollars) Increase or decrease since Nov, 10, Nov. 3, Nov. 12, 19U8 19l8 19U7 A S S E TS Gold certificates 22,195,1*29 + 79,000 +l,68i*,259 Redemption fund for F. R. notes 630,303 + 1,001 - 1*9,239 Total gold certificate reserves 22,825,732 + 80,001 +1,635,020 Other cash 250,935 - 2,986 + 1*,1*91 Discounts and advances 326,1*02 + 6,331; - 102,592 Industrial loans 973 1*2 967 Acceptances purchased - — 1,006 U. S. Govt, securities: Bills 1*,977,21*1* -153,31*5 -8,257,330 Certificates 6,119,819 - 20,000 - 988,986 Notes 823,600 - 8,500 - 11*6,900 Bonds 11,223,1*88 + 86,799 +10,1*85,798 Total U. S. Government securities "" 23.lWi.X51 - 95,01*6 + 1,092,582 Total loans and securities 23,1*71,526 - 88,670 + 988,017 Due from foreign banks 1*9 . .. 1*6 F. R. notes of other banks 127,563 - 1,225 + 23,703 Uncollected items 2,785,135 +229,658 + 126,098 Bank premises 32,223 . .. 985 Other assets 212,121* * 6,533 +150,869 TOTAL ASSETS 1*9,705,287 +223,311 + 2,927,167 L I A B I L I T I ES Federal Reserve notes 21*, 181,61*5 + 68,150 - l*ol*,095 Deposits! Member bank-reserve account 19,91*7,180 +101,136 + 3,108,388 U.S.Treasurer-general account 1,553,156 + 80,563 + 329,635 Foreign 1*31*. 392 - 28,71*2 8,61*1* Other 1*77,877 • 55,176 29,126 Total deposits 22,1*12,605 +208,133 +3,1*00,253 Deferred availability items 2,328,031 - 58,830 - 125,865 Other liabilities including accrued dividends 12,779 133 7.251 TOTAL LIABILITIES 1*8,93 5.060 +217,320 +2,863,01*2 C A P I T AL A C C O U N TS Capital paid in 200,116 + 25 + 6,086 Surplus (Section 7) 1+1*8,189 «*«•«• + 8,366 Surplus (Section 13b) •27»5ii3 «•«»«• + 88 Other caoital accounts 9l*,379 + 5,966 + 1*9,585 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,705,287 +223,311 +2,927,167 Ratio of gold certificate reserves to deposit and F R. note # liabilities combined 1*9. <# .155 .1$ "Jontingent liability on bills purchased for foreign correspondents 1,858 + 12 1,188 Commitments to make industrial loans 6,10i* + 32 1,072 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.i*.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 10, I9U8 (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 22,195,1*29 772,925 7,li*2,l*lo loi*3,8l*5 11*13.567 1037,302 105I*,106 1*318,611 65U,812 502,157 819,987 601,591 285it,518 Redemption fund for F. R. notes 650,503 52,71*5 58,376 58,511* 75,429 58,987 1*5,098 104,1*62 1*5,1U1 23,257 56,1*06 26,929 1*6,959 Total gold certificate reserves 22,825,752 825,670 7,200,7861102,3571486,9961096,2891099,201*1*1*23,073 699,953 525,1*11* 856,393 628,520 2881,277 other cash 250,955 25,851+ 1*2,815 11,177 20, 61*7 16,269 18,51*7 36,182 15,490 13,358 10,092 12,813 27,695 Discounts and advances 526,1*02 18,1*3*. 96,299 21,51*2 1*1,360 li*,76U 15.191* 1*0,166 11,61*9 6.-Q25 16,128 10,137 3i*,68i* Industrial loans 975 — — 955 — 58 — —. -— —- U. S. Govt, securities: Bills 1*,977.21*1* 331*,590 1,193,1*51* 355,521* 1*77,168 325,21*2 21*9,525 7ii*,768 2l*7,52o 152,51*8 231,991* 225,56!* 1*71,71*7 Certificates 6,119,819 1*11,399 1,1*67,1*23 1*37,138 586,708 397,14*6 306,805 869,553 337,891* 187,321 285,251 277,31*3 555,538 Notes 825,600 55,366 197,481* 58,850 78,958 53,1*88 1*1,289 117,021* 1*5,1*73 25,210 38,389 37,325 7&,76i* Bonds 11,223,1*88 754,1*87 2,691,190 801,69!* 1075,995 726,898 562,668 1594/725 619,682 51*3,51*0 523,158 508,658 1018,855 ^otal U.S.Government securities 25,li*l*,151 1555,81*2 5,51*9,551 1655,186 2218,829 1505,071* 1160,287 5296,068 1250,569 708,1*19 1078,772 101*8,870 2120,881* Total loans and securities 25,1*71,526 l57l*,296 5,61*5,850 1675,665 2260,189 1517,876 1175,1*81 5336,251* 1262,018 7ll*,l*W* 1094,900 1059,007 2155,568 Due from foreign banks 1*9 3 l / l6 1* 1* 2 2 1 2 1 2 2 k F.R.notes of other banks 127,563 6,1*62 l"5,!*93 7.H*8 6,382 20,171 10,626 ll*,822 7,30!* 10,51*1* 7,650 8,121 12,81*0 Uncollected items 2,785,155 207,132 529,697 177,165 267,836 252,oil* 178,687 1*37,050 li*2,585 79,417 158,012 131,250 21*1*,310 Bank premises 52,223 1,19!* 8,063 3,061* 4 80J 2,571 l,57l* 3,021 1,91*9 1,182 2,592 761 1,651 S other assets 212,121* H*,382 50,658 il*,7Q9 20,1*97 13,69!* 10,675 29,975 11,958 6,500 9,965 9,561 19,572 TOTAL ASSETS 1*9,705,287 2651*,995 15,1*93,376 2991,287 1*067,352 2898,886 2i*9l*,796 8280,31*1* 211*1,259 1550,860 2159,1*0!* 181*9,855 531*2,915 .l/ After deducting $33,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.i+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 10, I9I+8 (In thousands of dollars) L I A B I L I T I ES Total. Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 24,181,645 llU5,048 5,508,885 1651,634 2132,145 1688,193 1346,191 4587,066 1137,599 635,290 940,513 631,663 2509,418 Depositss Member bank reserve acct. 19,91+7,180 858,788 6,451,894 964,685 1445,894 855, o4o 842,757 5018,792 744.057 519,6no 927,262 970,034 2348,297 U.S.Treasurer-general acct. 1,553,156 152,594 279,402 131,750 159,588 97,762 91,769 158,292 84,690 95,892 92,126 90./776 138,955 Foreign 434,392 22,031 1/196,517 28,326 32,175 17,135 14,358 47,559 12,589 8,745 12,240 11,890 50,851 Other 477,877 3,804 2,057 246 897 3l?,.642 414,282 1,454 5,597 2,894 600 2.114 8.2Q0 Total deposits 22,412,605 1017,017 7,542,095 1126,195 1645,052 972,831 949,464 5226,757 349,626 626,372 1031,874 1073,597 2555,725 Deferred availability items 2,328,031 175,052 4o4,522 150,985 219,812 197,485 165,404 559,569 123,887 68,358 157,522 115,924 209,955 Other liabilities including accrued dividends 12,779 685 5,587 795 1,208 660 555 1,945 54o 564 486 485 1,695 TOTAL LIABILITIES 48,955,060 2605,800 15,258,889 2929,607 5996,217 2859,169 2461,594 8175,157 2111,652 1330*564 2110,195 1821,667 5274,769 Capital paid in 200,116 11,541 69,002 14,642 19,022 8,554 7,831 25,213 6,601 4,4i4 6,891 7,796 18,824 Surplus (Section 7) 448,189 28,117 138,596 35,550 42,175 21,210 19,110 66,217 16,972 11,233 16,148 14,111 58,952 Surplus (Section 13b) 27,543 5,011 7,319 4,489 1,006 3,549 762 1,429 521 1,075 1,157 1,507 2,140 Other capital accounts 94,579 6,724 19,570 7,199 8.934 6.624 5.4Q9 12.343 5.4Q5 5.776 5.055 4,954 8.250 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,705,287 2654,995 15,495,576 2991,287 4o67,552 2398,886 2494,796 8280,544 2141,239 1350,860 2139,404 1849,835 5542^915 Contingent liability on bills purchased for foreign correspondents 1,858 117 2/ 595 150 171 91 76 253 67 46 65 63 164 Commitments to make industrial loans 6,104 75 210 1,057 132 288 485 3,750 107 F. R. notes outstanding 24,869,635 1475,549 5,654,302 1700,146 2196,811 1734,817 1396,968 4665,906 1178,999 646,393 964,559 662,410 2594,975 Collateral for F.R. notes held by F.R. Agentss Gold certificates 15,279,000 460,000 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 56,989 5,896 21,855 2,825 U4< 3,330 243 8,o4o 14,350 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 A1ID SECURITIES Within 16 to 31 to 61 to 91 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 326,402 87,342 128,155 40,410 70,495 Industrial loans 975 765 7 131 2 45 15 8 U.S.Govt, securities 23,144,151 809,837 1,367,657 2,410,927 698,623 745,700 5,242,369 645,550 1,966,392 9,257,096 l/ After deducting $237,796,000 participations of other Federal Reserve Banks. 2"/ After deducting $1,263,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis