H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM lUwX (For Immediate Release) November 26,19J48 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 2i| member bank reserve balances decreased $19,000,000* Reductions in member bank reserves resulted from increases of $90, )00,000 in cidjaey in circulation, $59,000,000 in Treasury deposits with Federal Reserve Banks, and $21*,000*000 in nonraember deposits and other Federal Reserve accounts, offset in part by increases of $107*000,000 in Reserve Bank credit and $1|Q, 000,000 in gold stock, and a decrease of $7,000,000 in Treasury cash. Excess reserves of member banks on November 21* were estimated to be approximately $910,000,000, Holdings of loans, discounts and advances increased $500,000,000, while United States Government securities increased $63*000,000* The increase in hold ings of United States Government securities reflects increases of $8lj,000,000 in bills and $10,000,000 in bonds, and decreases of $17,000,000 in notes and $13,000,000 in certificates• Changes in member bank reserve balances and related items during the week and the year ended November 2I4., I9I4.8, were as follows: Increase or decrease since November 2J4, November 17, llovember 26, J^ I9I+6 I9U7 (In: millions ! Of dollars) U. S # Government securities 22,993 + 63 + 75k Loans, discounts and advances 583 + 300 + 208 Other Reserve Bank credit 365 - 256 + hb Total Reserve Bank credit 23,9U1 + 107 +1 ,007 Gold stock 2U,150 + ho +1 ,553 Treasury currency U,580 + 1 + 26 riember bank reserve balances 19,93U . 19 +2 ,813 Money in circulation 28,305 + 90 - 1*20 Treasury cash 1,317 - 7 - 13 Treasury deposits with F t R*Banks 1,650 + 59 + 336 Nonmember deposits and other F R accounts 1.U6U + 2h - 131 # # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TTZGLVE FEDERAL RESERVE BANKS COMBINED H.U.l(a) (In thousands of dollars) Increase or decrease since Nov. 2U, Nov. 17, Nov. 26, I9k8 191*8 191*7 A S S E TS Gold certificates 22,255li31 + 1*0,003 +1,595,261 t Redemption fund for F, R, notes 627,250 + 1 - 55,718 Total gold certificate reserves 22,882,681 + 1*0,001* +1,539,51*3 Other cash 255.1*86 - 5,211* 7,135 Discounts and advances 581,861* +299,711 + 211,373 Industrial loans 980 + 7 3,71*1 Acceptances purchased ... 629 U. S, Govt, securities: Bills 5,025,791* + 81*,350 -7,61*3,1*81* Certificates 6,020,619 - 13,200 -1,222,786 Notes 780,950 - 17,250 - 617,800 Bonds 11,165,827 + 9,518 +10,237,791* Total U. S. Government securities 22,993,190 + 63,1*18 + 753,721* Total loans and securities 23,576,031* +363,136 + 960,727 Due from foreign banks 1*9 ... 1*6 F.R. notes of other banks 135.91*0 - 1*1*5 + 10,228 Uncollected items -971,986 + 150,502 2,761,92k Bank premises 1* 96I 32,21*0 Other assets • 5,71*1* • 152,239 223,088 TOTAL ASSETS 1*9,867,1*1*2 -568,757 +2,805,097 L I A B I L I T I ES Federal Reserve notes 2k,166,269 + 76,1*08 1*69,1*66 Deposits s Member bank-reserve account 19.931*. 1*21 - 18,102 + 2,813,630 U.S.Treasurer-general account 1.650,293 + 59,l*o6 + 336,1*21* Foreign 1*65,91*0 - 5,786 + 15,21*0 Other' 1*56,201* + 27,221+ - .62,273 Total deposits 22,506,858 + 62,71*2 + 3,103,021 Deferred availability items 2,397,357 -715,732 + 10l*,838 Other liabilities including accrued dividends H*, 503 + 2,085 _ 5,902 TOTAL LIABILITIES 1*9,001*. 987 -57l*,i*97 + 2,732,1*91 C A P I T AL A C C O U N TS Capital paid in 200,181* 60 + 5,636 Surplus (Section 7) 1*1*8,189 + 8,366 Surplus (Section 13b) 27,51*3 + 88 Other capital accounts 106,539 5,680 _ _ _ __ + 58,516 TOTAL LIABILITIES AND CAPITAL ACCCUNTS 1*9,867,1*1*2 -568,757 +2,805,097 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 1*9. Ofo ,lfo .9* Contingent liability on bills purchased for foreign correspondents 1,850 8 1,055 Commitments to make industrial loans 6,097 7 1,370 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l*.l(b) STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON NOVEMBER 21;, 19^8 (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 22,255,1*51 820,906 7,053,k20 101*8,666 11*22,965 1012,707 1071,988 l*l*l2,25lj. 655,879 U85.251* 822,71*5 616,078 283k,591 Redemption fund for F. R. notes 627,250 52,588 57,75k 58,259 75,209 57,886 kk,956 lok,256 k5,082 25,255 56,560 26,882 k6,8k5 Total gold certificate reserves 22,682,681 875,k9k 7,m»15k 1106,905 lk96,172 1070,595 m6,9kk k5l6,k70 700,961 506,li89 859.105 61*2,960 2881,k5k other cash 255,k86 2k,k79 5k,876 10,8k5 20,088 18,7k5 2o,85k 56,165 20,562 15,557 11,^69 15,7kk 50,126 Discounts and advances 581,861* 20,8k5 279,759 57,51? 57,771 29,95k 21,802 55,806 25,129 5,975 56,707 9,157 25,681* Industrial loans 98O -— — 9kk — 56 -— -— — U. S. Govt, securities} Bills 5,025,79k 555.205 1,205,096 558,995 k^l,825 526,596 251,958 728,1*82 250,885 155,851* 25i*,258 227,765 1*71,105 Certificates 6,020,619 l*Ol*,751 1,1*1*5,656 1*30,055 577.196 591,005 501,852 855,1*57 532,1*16 I8l*,285 280,627 272,81*9 51*6,531* Notes 780,950 52,1*98 167,258 55.763 7l*.870 50,718 39,151 110,961* 1*3,119 23,90!* 36,1*01 55,392 70,892 Bonds 11,165,827 750,611 2,677;36U 797,573 1070,1*68 725,151* 559,777 1586,550 616,1*99 51*1,775 520,1*50 506,021* 1015,600 Total U.S.Government securities 22,993,190 15l*5,oi*5 5,515.35k l6U2,i*ol* 22ol*,557 11*95,271 1152,718 5281,1*55 121*2,917 705,798 1071.756 101*2,028 2102,129 Total loans and securities 25,576,051* 1565,888 5,793,095 1680,665 221*2,128 1525,261 I17l*,520 5557,259 1266,01*6 709,775 1108,1*1*5 1051,165 2125,815 Due from foreign banks ^9 5 l/ 16 1* 1* 2 2 7 2 1 2 2 2* F.R.notes of other banks 135,9)40 3,7l*0 12,968 5,219 7,1*75 25,161* 15,770 ll*,769 8,216 12,050 9,79k 7,822 16,975 Uncollected items 2,761,921* 205,507 556-807 181*,96I* 275,081 255,075 17k,k51 1*58,616 122,161* 72,1*71* 15k,812 157,756 221*,1*19 Bank premises 52,21*0 1,19k 8,063 5,058 1*,798 2,561* 1,581 5,Ol*8 1,91*8 1,182 2,592 76I 1,651 Other assets 225,088 15,155 55,1*52 15,1*20 21,59k ll*,575 H,175 51,515 12,511 6,792 10,1*57 10,125 2o,5l*5 TOTAL ASSETS 1*9,867.1*1*2 2687,258 15,550,1*09 5007,078 1*067,558 2887,777 2515,275 8577,825 2152,1*10 1522,298 2156,1*71* 1861*,555 5500,967 1/ After deducting $53,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF THE "FEDERAL "EESBRVE BANKS ON NOVEMBER 2k lgU8 9 ^ (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 2^,166,269 U&k*26k 5»5U2 835 1661,321 2131,587 1673.638 1331,55h 4536,3^3 1131,63k 633,730 936,2*58 628,232 2U8U#593 # Deposits: Member bank reserve acct # l9 # 93lj > l;21 836, ,975 6,1169^639 9L6.668 11*25, ,597 839, ,665 836,600 3056,773 736,£1;4 1*96,795 949,560 965,699 2575,806 U # S»Treasurer-general acctj s 650. •293 151. ,1*52 313,811 139.056 144, ,725 96,251 121, ,96U 190*894 97,521 95,670 96,572 99,926 97,1*1*1 Foreign h65, ^9U0 28, 388 1/159, ,490 56,1*99 4l, 455 22, ,079 13, ,475 61,282 16,222 11,265 15,771 15,320 39,694 Other hh,, 33??KK 007799__ 22..--669933 66.. 007700 11.. ,,77jjii77__ 1. ,,UU1177 22,,3311**66 66,,110066 22,,226688 11**3300 11**2266 37,2*48 Total deposits 2222,,550066** 11002200,, ,,998899 77..333399,, ,,oollii99~~ TTii22UU77889966 11661177JJ•• 33ll**77~~ 995599,, ,,774422 978, ••445566 33331111..229955 885566,,11**9933 660055,,999988 11006622,,333333 11008811,,337711 2548,589 Deferred availability i. terns 2,397, ,357 191.277 1*26, ,786 157,480 244, ,100 213. ,228 168, ,890 371,074 113,533 61,266 127,1*03 125,31*2 196,978 Other liabilities including accrued dividends Hi, ,503 731; 4 1 * ,i&8 8l*l l, ,545 668 598 2,251 526 395 540 623 1,336 TOTAL LIABILITIES U9.0GU, - 987 2637, ,2&x 13,313, ,118 29^,538 3995, , 079 281-7,. 276 21*79,. 478 8270,963 2102,186 1501,1*37 2126,734 1835,618 5231,296 Capital paid in 200, ,18l* Hi ,350 68, .979 1U.6U3 19. ,018 8, ,540 ,81*1* 25,266 6,602 4,1*20 6,895 7,805 18,821* / J Surplus(Section 7) 10*8,, 189 28, ,117 138, ,596 35.550 U2, ,173 21, ,210 19, ,110 66,217 16,972 11,253 16,11*8 lU.iii 38,952 Surplus (Section 13b) 27, ,543 3, ,011 7, ,319 4,1*89 1, ,006 3, ,349 762 LU29 521 1,075 1.137 1,307 2,11*0 Other capital accounts 106, ,539 7, ,516 22, ,397 8,058 10, ,C62 7, ,402 6, 15,950 6,129 4,155 5,560 5,494_ 9,755 TOTAL LIABILITIES AHD CAPITAL ACCOUNTS 1*9,367,1*42 2687,258 13,550,1*09 3007,078 1*067,338 2887,777 2513,275 8377,825 2132,1*10 1322,298 2156,1*71* 186U.333 5300,967 Contingent liability on bills purchased for foreign correspondents 1,850 116 2_/ 592 150 170 91 76 252 66 1*6 65 65 163 Commitments to raake industrial loans 6,097 75 — 201 1,057 135 288 l*8l* — — 5,750 — 107 F. R. notes outstanding 2l*,875,855 li;76,98l* 5,636,689 1701,536 2192,21*8 1722,105 1389,61*0 1*670,373 1170,193 61*5,954 961,1*53 666,222 2592,656 Collateral for F. R. notes held by F, R. Agentsj Gold certificates 13,279,000 1*60,000 1*, 770,000 550,000 735,000 625,000 575,000 2600,000 315,000 200,000 280,000 169,000 2000,000 Eligible paper 279,372 6,235 192,925 13,SCO 17,935 Hi,810 I98 28,619 U.S.Govt, securities 12,300,000 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 Uithin 16 to 31 to 6l to 91 days to 6 months 1 to 2 2 to 5 Over Total 1» days 30 days 60 days 90 days 6 months to 1 year years years 3 years Discounts and advances 581,861* 1*56,298 19,723 56,1*03 1*2,200 7,21*0 Industrial loans 980 798 39 75 2 2 ]*5 15 8 U.S. Govt, securities 22,993,190 1,332,857 982,651 1,942,899 1,107,137 736,200 5,134,669 590,900 1,963,917 9,201,910 l/ After deducting $306,1*08,000 participations of other Federal Reserve Banks. 2"/After deducting $1,258,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis