H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 23, 1943 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 22 member bank reserve balances decreased $536,000,000, Reductions in member bank reserves resulted from increases of $606,000,000 in Treasury deposits with Federal Reserve Banks, $191,000,000 in money in circulation, and $46,000,000 in nonmember deposits and other Federal Re* serve accounts, offset in part by increases of §302,000,000 in Reserve Bank credit and $4,000,000 in gold stock. Excess reserves of raember banks on December 22 were estimated to be approximately $710,000,000, Holdings of loans, discounts and advances increased $160,000,000 vrhile holdings of United States Government securities decreased $148,000,000, The de crease in holdings of United States Government securities reflects decreases of $107,000,000 in bills, $56,000,000 in bonds, and $7,000,000 in notes and an in*crease of $21,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended December 22, 1943, were as follows: Increase or decrease since December 22, December 15, December 24, 1943 1948 1947 (In millions of dollars) U. S. Government securities 22,345 - 143 + 945 Loans, discounts and advances 427 + 160 + 143 Other Reserve Bank credit 949 + 291 + 123 Total Reserve Bank credit 24,221 302 +1,210 Gold stock 24,234 4 +1,491 Treasury currency 4,584 1 + 28 Member bank reserve balances 19,399 536 +2,522 Money in circulation 28,560 191 r 551 Tr-L'.sury cash 1,326 1 + 8 1rr.--.i3iri.-y deposits with F.R.Banks 1,575 606 + 646 Nonmember deposits and other F, R, accounts 1,680 46 + 104 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.U.l(a) OF THE TWELVE FEDERAL RSbERVB BANKS CGLJtiJMED (In thousands of dollars) Increase or decrease since > Dec. 22, Dec. 15, Dec. 21* f 19^8 191+8 191*7 A S S E TS Gold certificates 22,325,1+29 - 1*,001 +1,530,259 Redemption fund for .F. R notes 63UsU93 + l*,ooi - 52,821* # Total gold certificate reserves 22,959,922 — +171*77,1*35 Other cash 219,628 - 11,1*21 - 23,773 Discounts and advances 1+26,237 +159,61*1* + 11*3,1*51 Industrial loans 868 20 573 U. S. Govt* securities: Bills 5,020,995 -106,871 -6,765,71*0 Certificates 5,960,369 + 21,250 - 911,886 Notes 806,950 - 7,000 - 72l*,800 Bonds 11,056,550 - 55,903 +9,31*6,957 Total U, S. Government securities 22,8U*,86U -11*8,52!* + 91*1*, 531 Total loans and securities 23,271,969 + 11,100 +1,087,1*09 Due from foreign banks U9 — 1*6 f• R. notes of other banks 150,078 + 11,911* + 20,790 Uncollected items 5.,U3U,U5 -151*, 188 • 21*0,871 Bank premises 32,302 + 23 91*0 Other assets l!+l+,25o + 1*90 + 1*2,618 TOTAL ASSETS 50,212,613 -11*2,082 +2,81*1*, 361* L I A B I L I T I ES Federal Reserve notes 2U,397,UU8 +188,117 - 587,001 Deposits: «. Member bank-reserve account 15,898,699 -06,1*1$ +2,521,717 U.S.Treasurer-general account l,57l*,577 +605,366 + 61*5,661* Foreign 51*9,383 + 18,223 + 87,866 Other 1*83,970 + 21,21*8 - 21,825 Total deposits 22,506,629 +108,389 +3,233,1*22 Deferred availability items 2,1*85,1*08 -1*1*5,103 + 118,056 Other liabilities including accrued dividends 15,293 + 268 6,898 TOTAL LIABILITIES U9,UOU,778 -11* 8,329 +2,757,579 C A P I TA L A C C 0 U N T3 Capital paid in 200,981* + 179 + 5,629 Surplus (Section 7) 1*1*8,189 — + 8,366 Surplus (Section 13b) 27,5143 — + 88 Other capital accounts 131,119 + 6,068 + 72,702 TOTAL LIABILITILS AND CAPITAL ACCOUNTS 50,212,613 -11*2,082 +2,81*1*, 361** Ratio of gold certificate reserves to deposit and F R. note 1*9.0$ ,3% # .» liabilities combined Contingent liability on bills purchased for foreign correspondents 3,371 + 10 + 916 Commitments to make industrial loans 6,090 + 28 - 1,597 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 ON DECEMBE R22, 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 22,325,429 818,950 7,224,437 1041,428 1467,055 985,074 1040,939 4412,652 659,017 462,645 833,371 507,622 2792,239 Redemption fund for F. R. notes 634,493 54,218 55,996 60,564 75,598 59.268 44,578 106,679, 44,936 23,159 36,235 26,761 46,501 Total gold certificate reserves 22,959,922 373,168 7,280,433 1101,992 1542,653 1044,342 1085,517 4519,331 703,953 485,804 869,606 614,383 2838,740 Other cash 219,628 23,048 31,817 10,661 15,943 14,926 17,794 32,952 12,502 11,69 4 9,243 10,764 28,284 Discounts and advances 426,237 19,982 213,024 20,909 28,247 16,586 15,820 50,18 0 7,043 7,3.87 14,065 12,548 20,646 Industrial loans 868 —- —- 818 —— 50 — — -— — —- —- U. S. Govt, securities: Bills 5,020,995 290,857 1,203,947 358,651 481,363 326,084 251,717 752,027 277,224 153,686 234,034 227,544 463,861 Certificates 5,960,369 400,680 1,429,189 425,750 571,421 387,089 298,811 846,897 329,090 182,441 277,818 270,118 541,065 Notes 806,950 54,246 193,492 57,640 77,362 52,407 40,455 114,658 44,554 24,700 37,613 36,570 73,253 Bonds 11.056.550 743.266 2.651 l62 789 769 1059.991 7l8 057 554.298 1571,003 610.465 338.430 515.357 501,072 1003,680 f P f Total U.S.Government securities 22,844,864 1489,049 5,477,790 1631,310 2190,137 1483,637 1145,281 3284,585 1261,333 699,2573064,822 1035,304 2081,859 Total loans and securities 23,271,969 1509,031 5,690,814 1653,537 2218,384 1500,273 1161,101 3334,765 1268,376 706,444D78,887 1047,852 2102,505 Due from foreign banks 49 3 1/ 16 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 150,078 6,817 16,73 5 5,566 9,532 24,841 11,564 19,245 8,674 7,483 7,624 7,409 24,588 Uncollected items 3,434,415 263,773 667,136 229,623 358,979 290,938 225,760 536,106 146,043 80,864 176,824 169,564 288,805 Bank premises 32,302 1,185 8,045 3,053 4,869 2,564 1,580 3,092 1,945 1,180 2,386 758 1,645 Other assets 17,/, ?50 10,57 6 ^,90/, 9,Q56 1^,35? 9,?9? 7,?6l ?n,^5 a t^ V,,356 , 6,593 6,51? -.„13*258 t ; TOTAL ASSETS 50,212,613 2687,601 13,728,900 3014,392 4164,216 2887,178 2510,579 8466,033 2149,65 10297,826 2151,165 1857,244 5297,829 1/ After deducting $33*000 participations of other Federal Reserve Banks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.Kc) STATEMENT" OF CONDITION OF THE FEDERAL H&SBhVB BANES ON DECEMBER 22, I9U8 (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.C y. Dallas SanFran. Federal Reserve notes 24,397,14+8 11+44,757 5,601,785 1684,603 2173,846 1687,394 1352,478 4629,314 1156,424 636,431 942,947 632,193 2455,271 Deposits: Member bank-reserve acct.19,898,699 829,051 6,480,193 953,552 1447,172 316,990 819,112 3035,888 734,378 490,793 929,857 971,320 2389,893 U.S.Treasurer-general acctl,57lj.,577 117,385 338,179 96,094 164,333 102,526 78,912 258,914 85,803 71,378 100,170 71,533 89,500 Foreign 549,383 33,6o4 1/136,637 43,205 49,073 26,137 21,869 72,542 19,202 15,335 18,669 18,136 46,974 Other 483,970 4,086 409,406 4.799 6,545 1,901 335 2,558 6,592 2,173 1,113 520 1)4,164 Total deposits 22,506,629 984,126 7,414,415 1097,650 1666,921 947,354 920,228 3369,882 346,475 577,679 1049,809 1061,559 2570,551 Deferred availability items2,485,408 206,239 464,800 166,301 247,155 209,468 202,151 354,131 114,522 61,647 126,917 152,950 198,627 Other liabilities including accrued dividends 15,293 846 4,345 923 1,603 750 681 2,535 644 41+0 559 683 1,449 TOTAL LIABILITIES 49,404,778 2635,968 13,485,345 2949,977 4089,530 281+4,966 2475,538 8355,712 2118,065 1276,197 2120,212 1827,390 5225,878 Capital paid in 200,984 11,359 69,324. 14,684 19,079 8,646 7,862 25,309 6,671 4,1+46 6,962 7,813 18,829 surplus (Section 7) 448,139 28,117 138,596 35,5^0 42,173 21,210 19,110 66,217 16,972 11,233 16,148 l 4 ,m 38,952 Surplus (Section 13b) 27,543 3,oil 7,319 4,439 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 131,119 9,146 28,516 9,892 12,1+28 9,007 7,307 17,366 7,421 4,877 6,706 6,625 12,030 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,212,613 2687,601 13,728,900 3014,392 4164,216 2887,178 2510,579 8466,033 2149,650 1297,826 2151,165 1857,244 5297,329 Contingent liability on bills purchased for foreign correspondents 5,572 215 2/ 1,079 273 310 165 158 459 121 84 118 115 297 Commitments to make industrial loans 6,090 75 281 931 151 283 481 5,750 105 F„ R. notes outstanding 25,205,378 1502,419 5,775,260 1759,482 224l,oo6 1742,536 1398,192 4746,396 1193,725 649,750 967,267 664,592 2535,153 Collateral for F. It. notes held by F. R. Agents: Gold certificates 15,474,000 460,000 4,370,000 550,000 745,000 625,000 575,000 2660,000 315,000 210,000 280,000 I84,ooo 2000,000 Eligible paper 182,768 7,850 149,450 5,510 — 6,650 110 2,375 7,525 3,700 U.S.Govt, securities 12,500,000 1100,000 1,000,000 1200,600 1500,000 1150,000 850,000 2100,000 950,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LCkiHS AND SECURITIES Within 16 to 51 to 61 to 91 days to 6 months 2 to 5 Over Total_ 13 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 426,257 256,537 32,295 40,895 96,710 Industrial loans 868 784 2 2 57 15 8 U.S.Govt, securities 22,844,864 1,839,555 660,273 1,459,237 2,227,680 858,743 4,217,876 564,900 2,048,972 9,007,578 1/Aft deducting $362,712,000 participations of other Federal Reserve Banks* 2/ After deducting $2,293,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis