H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL REoERVE SYSTEM H.Lul (For Immediate Release) December 30, 19^8 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 29 member bank reserve balances increased $339,000,000» Additions to member bank reserves resulted from decreases of $292,000,000 in Treasury deposits with Federal Reserve Banks and of $235,000,000 in money in circulation, and an increase of $2,000,000 in gold stock, offset in part by increases of $79,000,000 in nonmember deposits and other Federal Reserve accounts and $3,000,000 in Treasury cash, and a decrease of $108,000,000 in Reserve Bank credit. Excess reserves of member banks on December 29 were estimated to be approximately $1,050,000,000* Holdings of loans, discounts and advances decreased $171,000,000, while United States Government securities increased $502,000,000* The increase in hold ings of United States Government securities reflects increases of $i4i5fOOO, 000 in bills and $112,000,000 in certificates, and a decrease of $55,000,000 in bonds. Changes in member bank reserve balances and related ite^s during the week and the year ended December 29, I9I4.8, were as follows: Increase or decrease since December 29, December 22, December 31# 19^6 I9U8 I9U7 (In millions of dollars) U. S, Government securities 23.3U7 • 502 + 788 Loans, discounts and advances 256 - 171 + 170 Other Reserve Bank credit 511 ' - 1*38 - 2k Total lie serve Bank credit 2U.H3 _ 108 + 932 Gold stock 2^,236 + 2 + 1 .U82 Treasury currency 1,585 + 1 + 23 Member bank reserve balances 20,238 + 339 +2 ,339 Money in circulation 28,325 - 235 - 5U3 Treasury cash 1,329 + 3 - 7 Treasury deposits with F.R.Banks 1,283 - 292 + U3 Nonmember deposits and other F # R # accounts 1,759 + 79 4- 235 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATBIJJNT OB' CONDITION H.iul(a) OF THB TTiELVE FEDERAL RESERVE BANKS CUQINED (In thousands of dollars) Increase or decrease since Dec. 29, Dec. 22, Dec. 31, 19U3 I9b8 I9hl A S S E TS Gold certificates 22,325,1150 +1,515,260- Redemption fund for F. R. notes 630,650 - 3.8U3 - 56,1*77 Total gold certificate reserves 22,956,080 - 3,81*2 +1,1*59,783 Other cash 26^,882 + U5.25U 7.71*9 Discounts and advances 25U,8li7 -171,390 + 169,1*22 Industrial loans 651 17 556 U. S. Govt, securities: Bills 5,it66,li06 -5,967, OOlt Certificates 6,072,569 +112,200 - 725,936 Notes 806,550 1*00 - 670,000 Bonds 11,001,069 -55,1*81 +8.11*8,2 00 Total U.S.Government securities 23,3l6,59li +501.730 + 787,260 Total loans and securities 23.602,292 +350,323 + 956,1U6 Due from foreign banks U9 1*6 F. R.notes of other banks 168,085 + 18,007 + 5,81*3 Uncollected items 2,867,011; -567,1*01 - 117,985 Bank premises 32,321 + 19 686 Other aseets 1^8,062 + 3.812 + 32,825 TOTAL ASSETS 50,038,785 -173,828 +2,327,131 L I A B I L I T I ES Federal Reserve notes 21*,221,886 - 175,562 - 598,51*8 Deposits: Member bank-reserve account 20,258,21*1* + 339,51*5 +2,558,875 U.S.Treasurer-general account 1,285,591 -291,183 + 1413,363 Foreign 615,850 + 61*.1*67 + 222,001 Other J492.55U + 8,581+ - 76,879 Total deposits 22,628,0^2 +121,1*13 +2,897,55? Deferred availability items 2,556,252 -129,176 - 93,531 Other liabilities including accrued dividends 18,120 + 2,827 + 3,51l4 TOTAL LIABILITIES l*9,22l*,280 -180.1*98 +2,208,593 C A P I T. A L A C C O U N TS Capital paid in 201,158 + 17U + 5.&+1 Surplus (Section 7) 1*1+8,189 Surplus (Section ljb) 27,51+3 Other capital accounts + 6,1*96 + 112,897 137,615 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,058,785 -175,828 +2,527,151 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined .7% /° Contingent liability on bills purchased for foreign correspondents 3,330 1+1 870 Commitments to make industrial loans 6,109 19 1,325 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 29, 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 22.325.U3o 769,037 7,262,95U lo29,koU lUU9,26l 96U,Q50 1058,706 UU68,818 669.0U2 U6U.738 815,756 573,078 2800,6U6 Redemption fund for F.R. notes 630,650 5U.Q26 55,182 60.2.12 75.3UQ 57,788 UU.UQ8 IQ6.U21 UU,87l 25,156 56,192 26,711 U6,565 Total gold certificate reserves 22,956,080 823,o65 7,518,116 1089,616 152U.601 1021,818 1105,HU U575,239 715,913 U87.87U 851,928 599,789 28U7.009 Other cash 26U.882 53,6l6 58,750 15,815 17,195 16,970 22.8Q2 57,622 15,052 11,825 10.3U3 H.92U 52,878 Discounts and advances 25k,8U7 15,768 80,020 18,885 25,252 17.U51 15,937 26,857 8,255 5,178 15,259 6,U6U 21,581 Industrial loans 551 — 791 60 — — U.S.Govt, securitiesj Bills 5,U66,Uo6 5U1.785 l,5io,7U6 590,U65 52U,o6U 555,010 27U,oU7 79U,352 501,817 167,521 25U,795 22,7,752 5oU,29U Certificates 6,072,569 Uo8,225 1,2*56,095 U55.76U 582,177 59U.377 <3oU,U35 862,839 335,285 185,875 283,0U8 275,205 551,250 N°*es 806,550 5U.219 195,596 57,612 77.32U 52,581 Uo,U35 HU,6oi UU.532 22i,68R 57.59U 36,552 73,216 Bonds 11,001,069 739,536 2,657,856 785,806 1Q5U.675 71U.U55 551,517 1565,120 6o7,Uo2 536,752 512,771 U93.557 998,6UU Total U. S. Government % securitieF 25,32*6,594 l5U3,76l 5,598,095 1667,6U7 2258,258 1516,221 1170.U5U 333U.892 1289,056 7lU,6l6 1089,208 1058,oUU 2i27,2*oU Total leans and securities 25,602,292 1559,529 5,678,113 1687,323 2263.U70 1555,712 H8U.371 3561.7U9 1297,291 719.79U H03.UU7 106U.508 2ii*e,985 Due from foreign banks ^ 3 l / l6 U U 2 2 7 2 1 2 2 U g *'.ft.notes of other banks 168,085 5,176 T6,668 8,610 9,390 30,5Uo 15,005 22,698 10,095 7,969 9.866 8,855 23,237 Uncollected items 2,867,01U 212,2*32 573,672 181,75U 287.U71 255,520 178,901 U69.U53 120,832 75,297 15U,678 1U2,166 235,058 Bank premises ^ 3,053 U,867 2,557 l,57U 3,12U 1.9U1 1,177 2,586 759 1.658 52#321 2 00 6t0k5 other assets 12*8,062 9,958 35.29U lo.iUl lU,35l 9,6U3 7,U68 21,115 8,U25 U.U95 6,72U 6,778 15,692 TOTAL ASSETS 50,038,785 26UU.957 13,668,67U 2996,296 Ul2l,5U9 2850,562 2513,325 8U9l,007 2167,5U9 1308.U32 2159,37U 183U.759 5302,501 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.U.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESE1-.VE BANKS ON DECEMBER 29, I9I48 (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.Gy. Dallas SanFran. Federal Reserve notes 2k,221,836 1U31.U28 5,563,795 1672,258 2159,15k 1669,687 1337,kl7 k6o2,6k7 Ilk7,9l0 632,127 938,687 627,925 2k33,35l Deposits: .•ember bank-reserve acct. 20,258,2kk 850,789 6,570,kk3 963,519 1U71.50U 825,585 859,36k 51k2,2l5 775,91k k92,k62 952,527 9k9»86o 2ko6,k62 U.S.Treasurer-general acct. 1,285,39k 85,910 202,865 98,807 115,69k 85,087 87,676 181,767 77,55k 78,628 92,220 82,776 98,kl2 Foreign 615,850 35,123 l/25k,70i 1I5,158 51,290 27,518 22,857 75,820 20,070 15,938 19,512 18,955 k9,108 Other 1*92,55k k,lkk kl7,057 2,181 7,575 2,165 70k 3,005 6,lk6 k,685 519 kk7 k3,928 Total deposits 22,628,0^2 975,966 7,k25,o6k 1109,665 l6kk,06l 935,955 970,601 5k02,807 879,68k 589,713 I0kk,578 1052,038 2597,910 Deferred availability items2,556,252 18k,k85 k2k,095 Ik8,k00 2kl,001 2ol,3k7 169,160 571,610 107,2k8 6k,297 12k,193 123,855 196,561 Other liabilities including accrued dividends 18,120 957 5,607 1,091 1,856 879 780 2,725 7k9 k77 62k 776 1,621 TOTAL LIABILITIES k9,22k,280 2592,836 13,k25,56l 293l,klk k0k6,052 2307,868 21*77,958 8579,787 2155,591 1286,61k 2198,082 180k,57k 5229,9k3 Capital paid in 201,153 11,36k 69,327 Ik,681 19,073 8,708 7,87k 25,525 6,689 k,k55 6,968 7,851 18,8k5 Surplus (Section 7) kkS,l89 28,117 158,596 55,350 k2,173 21,210 19,110 66,217 16,972 11,255 I6,lk3 l k .m 33,952 Surplus (Section 13b) 27,5k3 3,011 7,319 k,k89 1,006 3,3k9 762 1^29 521 1,073 1,137 1,307 2,iko Other capital accounts 137,615 9,629 29,871 10,362 l3,ok5 9,k27 7,621 I8,2k9 7,776 5,057 7,039 6,916 12,623 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,058,785 26kk,957 15,668,67k 2996,296 kl2l,5k9 2850,562 2515^525 8k91,007 2167,5k9 1308,k32 2139,37k I83k,759 5302,501 Contingent liability on bills purchased for foreign correspondents 5,529 210 2/1,065 270 306 163 136 k53 120 85 117 113 293 Commitments to make industrial Loans 6,109 75 308 973 131 288 k81 3,750 105 i1. R. notes outstanding 25,153,933 Ik9k,k62 5,76o,kk9 1732,359 2238,519 173k,kk8 lkoo,5k3 k7k6,6ok 1190,158 6k8,k55 970,278 660,50k 2577,15k Collateral for F.R.notes held by F.R.Agents: Gold certificates 13,579,000 k6o,ooo k, 870,000 550,000 7k5rOOO 625,000 575,000 2765,000 315,000 210,000 280,000 18k,000 2000,000 Eligible paper k9,oko 3,790 18,880 3,k85 7,615 I,kl0 k25 8,585 k,850 U.S.Govt, securities 12,200,000 1100,000 1, 000,000 1200,000 1500,000 1150,000 850,000 2000,000 950,000 k50,ooo 700,000 500,000 800,000 MATURITY DISTRIBUTION OJ LOANS AND SECURITIES Within 16 to 51 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances Industril loans 25k, 8 8 5 k 1 7 100, 7 k 5 l9 7 kk,120 2 32,271 78,037 2 67 15 8 U.ii^Govt. securities 25,3k6,59k 1,797,127 U69,550 2,620,68k 678,3k3 k, 2k 6,976 562,500 2,oii7,2422 8,953,61*7 1,770,3k5 l/ After deducting $379,100,000 participations of other Federal Keserve Banks. ?/ After deducting $2,261j,000 participations of other Federal Reserve Banks » Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis