H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.1 (For Immediate Release) November 18, 19/4-8 CONDITION OF THE FEDERAL RESERVE BANKS Durihg the week ended November 17 member bank reserve balances increased $6,000,OOO* Additions to member bank reserves resulted from decreases of $122,000,000 in money in circulation and $11,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $13,000,000 in gold stock, offset in part by a decrease of $95*000,000 in Reserve Bank credit and increases of $38,000,000 in Treasury deposits with Federal Reserve Banks and $7,000,000 in Treasury cash Excess reserves of member banks on November 17 were estimated to # be approximately $880,000,000* Holdings of loans, discounts and advances decreased $14**000,000, while United States Government securities decreased $2ll*,000,000 The decrease in hold # ings of United States Government securities reflects decreases of $25,000,000 in notes, $36,000,000 in bills, $67,000,000 in bonds, and $86,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended November 17, I9U8, were as followst Increase or decrease since November 17, Noveraib er 10, November 19 19U8 19U8 19U7 ' (In millions of dollars) U. S. Government securities 22,930 2 Hi + 708 Loans, discounts and advances 283 hk + 83 Other Reserve Bank credit 621 + 16U + 2 Total Reserve Bank credit 23,83k 95 • 793 Gold stock 2^,110 + 13 +1,597 Treasury currency ^,579 + 27 Member bank reserve balances 19,953 + 6 +2,885 Money in circulation 28,215 122 - 380 Treasury cash l,32ii + 7 3 Treasury deposits with F f R # Banks 1,591 + 38 + 31 Nonmember deposits and other F R accounts 11 # # - 117 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TFJELVE FEDERAL RESERVE BANKS COLIBINED H.lul(a) (In thousands of dollars) Increase or decrease since Nov. 17, Nov. 10, Nov. 19, I9h8 I9U8 19^7 A S S E TS Gold certificates 22,215,1428 + 19,999 +1,6314,258 Redemption fund for F. R. notes 627,21+9 - 3,05U - 55,193 Total gold certificate reserves 22,81*2,677 + 16, & 5 +1,578,765 Other cash 260,700 + 9,765 8,152 Discounts and advances 282,153 -l+U,2l+9 + 83,333 Industrial loans 973 I+69 Acceptances purchased — . .. 862 U. S Govt, securities: # Bills i+, 91+1,1+1+1+ -35,800 -7,959,1+80 Certificates 6,033,819 -86,000 -1,182,086 Note s 798,200 -25,14 00 - 515,800 Bonds 11,156,309 - 67,179 +10,365,198 Total U S, Government # securities """ ~~ 22,929,772 -2lli,379 + 707.832 Total loans and securities 23,212,898 ^258,628 + 789T83IT Due from foreign banks 1+9 — " U6 F # R # notes of other banks 136,385 + 8,822 + 5,021 Uncollected items 3,733,910 +9^8,775 + 1+26,657 Bank premises 32,236 + 13 - 999 Other assets 217,31+1+ + 5,220 + 152,9!+5 TOTAL ASSETS 50,1+36,199 +730,912 + 2,9l+l+,o25 LI A B I L I T I ES Federal Reserve notes 2l|,089,86l - 91,781+ - 1+31,315 Deposits-j Uember bank-roserve account 19,952,523 + 5,31+3 + 2,885,003 U.S.Treasurer-general account 1,590,887 + 37,731 + 30,691+ Foreign 1+71,726 + 37,331+ + 65,701+ Other 1+28,980 - 1+8,897 90,896 Total deposits 22,1+1+1+, 116 + 31,511 +2,390,505 Deferred availability items 3,113,089 +785,058 + l+2l+,005 Other liabilities including accrued dividends 12,1+18 - 361 - 8,278 TOTAL LIABILITIES 1+9,659,1+81+ +72171+21+ +2,87i+,9l7 C AP I T AL A C COU N T S Capital paid in 200,121+ 8 + 5,562 Surplus (Section 7) 1+1+8,189 8,366 Surplus (Section 13b) 27,51+3 88 Other capital accounts 100,859 6,1+80 + 55,092 TOTAL LIABILITIES AND CAPITA ACCOUNTS 50,1+36,199 +730,912 +2,9l+l+, 025 Ratio of gold certificate reserves to deposit and F R. note # liabilities combined 1+9. $ ,1% Contingent liability on bills purchased for foreign correspondents 1,858 1,171+ Commitments to make industrial loans 6,101+ 1,1+1+1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.li.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESEHVE BANKS ON NOVEMBER 17, I9I+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 SahFran. Gold certificates 22,215,1+28 807,931 7,008,306 1050,5k5 11+56,1+92 1021,559 1079,839 1+376,055 665,855 tk86,825 8k5,5ko 627,51+2 2855,365 Redemption fund for F.R. notes 627,21+9 52,588 57,75k 58,259 73,209 57,886 l+k,956 10l+,256 1+5,082 25,255 56,560 26,882 1+6,81+2 Total gold certificate reserves 22,81+2,677 860,519 7,o66,ol+o 1088,582 1509,701 1079,1+1+5 H21+,795 1*1+80,289 708,917 5lo»o6o 879,700 65l+,U21+2880,205 Other cash 260,700 25,591 59,565 12,2ol+ 18,865 17,252 22,561 58,167 17,61+8 13.997 11,567 15,1+15 30,1+90 Discounts and advances 282,155 17,308 79,1+59 21,797 27,626 13.71k 17,165 32,616 15,35k 6,025 16,168 8,137 26,781+ Industrial loans 975 — -_ 935 . .. 38 — — —- — —- U. SL. Govt, securities: Bills k,9kl,kkk 330,375 l,l8l+,870 552,967 k75,756 520,917 21+7,750 709,681 252,205 151,252 250,526 225,9k! k65,kk6 Certificates 6,053,819 k05»6l7 l,kk6,801 k50,996 578,k62 591,861 502,k9k 857,555 333,lk6 18k,689 281,21+2 275,1+1*6 5k7,752 Notes 798,200 53,658 191,39k 57,015 76,52k 51,838 k0,0l6 115, kl5 kk,071 22+.1+52 57,205 56,17k 72,k58 Bonds 11,156,509 7k9,972 2,675,062 796,895 1069,555 72k,535 559,299 1,585,178 615,973 5kl,k8k 520,007 505,593 1012,736 Total U.S.Government securities 22,929,772 1539,620 5,k9S,lk7 1637,873 2198,277 Ik89,l51 llk9,539 5265,607 I2k5,595 701,857 1068,780 1059,15k 2096,572 Total loans and securities 23,212,898 1556,928 5,577,606 l66o,6o5 2225,903 1502,903 1166,70k 3298,225 I260,7k9 707,882 108k,9k8 lok7,29l 2125,156 Due from foreign banks ^9 5 l/ 16 k k 2 2 7 2 1 2 2 1+ F.R.notes of other banks 136,585 5,115 T8,029 7,28k 7,2k0 20,313 11,369 15,255 8,086 11,82k 8,767 7,810 15,293 Uncollected items 3,735,910 507,818 716,707 25o,8k7 39*,k92 313,976 223,51k 588,k20 165,977 97,758 I90,lkk 177,559 509,718 Bank premises 52,256 1,19k 8,065 5,06k k,798 2,571 1,586 5,025 l,9k9 1,182 2,592 761 1,651 Other assets 217,52+1+ 15,518 51,515 lk,997 2l,ook 15,952 10,879 30,658 12,16k 6,599 10,152 9,936 19,972 TOTAL ASSETS 50,k36,199 2772,k86 I3,k77,539 5057,587 kl79>005 2950,59k 256l,kl0 8k5k,Okk 2175,1+92 I5k9,305 2l87,k72 1911,178 5580,k89 l/ After deducting $53,000 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 NOVEMBER 17, 19^8 (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 21*, 089, 861 11*11,502 5,1*93,755 161*6,151* 2125,835 1677,21*6 1337,7691*575,097 1135,857 655,659 957,765 629,o62* 21*90,200 Deposits: Member bank reserve acct.19,952,523 877,351 6,399,627 950,208 11*75,11*7 839,290 835,680 3065,062* 731,526 1*98,766 939,521* 98l*,l6l 2556,199 U.S.Treasurer-general acct.1,590,887 137,1*66 250,760 125,71*3 H*9,561* 93,227 121*, 885 161*, 852 102,560 101,578 108,807 106,558 121*. 887 Foreign 2*71,726 29,158 1/157,185 37,1*62 1*2,550 22,663 18,962 62,900 16,650 11,563 16,188 15,725 1*0,71*0 Other 1*28,980 1*, 857 "365,900 1,515 6,1*11 2,171* 618 2,610 6,563 1,321 266 278 36,687 Total deposits 22,14*l*,ii6 101*8,772 7,175,1*72 llll*,928 1675,672 957,551* 980,li*5 3295,1*26 857,099 615,228 lo61*,785 1106,722 2558,515 Deferred availability items 5, 115,089 261,860 570,859 215,601 506,1*50 275,070 209,1*1*5 1*77,1*71* l5l*,H*2 81,1*08 I5l*,998 H*6,396 261,1*08 Other liabilities including accrued dividends 12,1*18 715 3,329 779 1,325 607 535 1,980 535 51*8 512 51*8 1,207 TOTAL LIABILITIES l*9,659,u8l* 2722,81*7 15,21*1,1*15 2975,1*62 1*107,262 2910,277 2527,892 831*7,977 211*5,615 1328,623 2158,058 1882,730 5311,528 Capital paid in 200,121* 11,31*0 68,975 li*,6J*2 19,011* 8,531* 7,81*7 25,255 6,602 U.U19 6,895 7,797 18,821* Surplus(Section 7) 1*1*8,189 28,117 13^,596 55,350 1*2,175 21,210 19,110 66,217 16,972 11,255 16,11*8 ll*,iil 58,952 Surpltzs (Section 13b) 27,51*3 3,011 7,319 hM9 1,006 5,51*9 762 1,1*29 521 1,075 1,157 1,307 2,11*0 Other capital accounts 100,859 7,171 21,031* 7,61*1* 9,550 7,021* 5,799 13,186 5,78i* 3,955 5,231* 5,233 9,21*5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,1*56,199 2772,1*86 13,1*77,359 5057,587 1*179,005 2950,59a 2561,1*10 8l*5l*,0l*l* 2175,1*92 131*9,305 2187,1*72 1911,178 5580,1*89 Contingent liability on bills purchased for foreign correspondents 1,858 117 2 / 5 95 150 171 91 76 255 67 1*6 65 65 161* Commitments to make industrial loans 6,10i* 75 210 1,057 152 238 1*85 — — 5,750 — 107 F. R. notes outstanding 21*,828,171* 11*68,288 5,62*7,145 1693,238 2195,778 1725,369 1391,579 1*661*,831 H7l*,556 61*6,060 9c2*,70S 659,236 2599,116 Collateral for F.R. notes held by F.R.Agents: Gold certificates 13,279,000 1*60,000 2*,770,ooo 550,000 735,000 625,000 575,000 2600,000 315,000 200,000 28o,ooo 169,000 2000,000 Eligible paper 3l*,878 2,750 5,31*0 5,080 1,895 7,055 21*8 8,080 6,1*50 U.S.Govt, securities 12,500,000 1100,000 1,000,000 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 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 7* Discounts and advances 282,153 73,357 97,566 60,610 50.620 Industrial loans 973 780 35 86 2 2 1*5 15 8 U.S.Govt, securities 22,929,772 1,299,621 996,691 2,21*8,800 706,132 736,200 5,165,869 620,150 1,963,917 9,192,392 l/ After deducting $5ll*, 500,000 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