H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF TEE, FEDERAL RESERVE SYSTEM H.iul (For Immediate Release) January 13, I9I49 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 12 member bank reserve balances decreased $270,000,000* Reductions in member bank reserves resulted from a decrease of $53^,000,000 in Reserve Bank credit, offset in part by decreases of $232,000,000 in money in circulation, $12,000,000 in Treasury deposits with Federal Reserve Banks and $19,000,000 in noniaeiriber deposits and other Federal Reserve accounts and an increase of 51;,000,000 in gold stock* Excess reserves of member banks on January 12 were estimated to be approximately ^950,000,000. Holdings of loans , discounts and advances increased $135*000,000, while holdings of United States Government securities decreased Ui% 000,000. The de 9 crease in holdings of United States Government securities reflects decreases of $3^5*000,000 in bills, $13i|,000,000 in bonds and $1^,000,000 in notes and an in crease of $39,000,000 in certificates # Changes in member bank reserve balances and related items during the week and the year ended January 12, I9U9, were as follows: Increase or decrease since January 12, January 5* January lk$ I9U9 I9U9 19^8 (In millions of dollars) U. S, Government securities 22.U65 - U5U + 569 Loans, discounts and advances 365 + 135 + 199 Other Reserve Bank credit 365 - 215 - 1U3 Total Reserve Bank credit 23,193 _ 53U + 625 Gold stock 2ii,253 + h +1, 1*63 Treasury currency U.586 — + 27 Member bank reserve balances 20,105 M 270 +2, 21*2 Money in circulation 27,919 - 232 • 1*55 Treasury cash 1,323 + l - 10 Treasury deposits with F.R.Banks 939 - 12 + 120 Nonmember deposits and othe^ FRaccounts l,7U5 - 19 + 218 f t Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATBIVIEMT OF CONDITION H.U.l(a) CF THE TMiltfB FEDERAL RESBKVE BAMS COMBINED (In thousands of dollars) Increase or decrease since Jan. 12, Jan. 5» Jan, Ik, 19k9 19^9 19it8 A S S E TS Gold certificates 22,563,^31 + 17,999 +1,513,261 Redemption fund for F, R. notes 629,665 - 65,21*1 Total gold certificate reserves 22,993,096 + 17,015 +1,1*1*8,020 Other cash 325,636 +28,61*1 - 2^,977 Discounts and advances 361,196 +135, HU + 199,531 Industrial loans 81*0 583 11* S.Govt, securities: Bills k,851,939 -3UU,677 -5,929,117 Certificates 6,317,769 + 39,100 + .80, Silt Notes 523,300 - 13,700 - 97U.650 Bonds 10,772,357 -13U.35U +7,392,536 Total U+S, Government securities 22,1*65,365 -1*53,631 + 569,383 Total loans and securities 22,830,1*01 -318,1*90 + 768,331 Due from foreign banks 1*9 1*6 F. R. notes of other banks 181,1*51* + 3,7l*8 285 Uncollected items 2,652,350 -138,786 - 578,365 Bank premises 32,31*3 658 Other assets 151,379 + l*,6o6 * 5k, 012 TOTAL ASSETS 1*9,166,703 -1*03,266 +1,61*6,032 L I A B I L I T I ES Federal Reserve notes 23,903,260 -ISk.lkk - 532,51*5 Deposits: Member bank-reserve account 20,105,1*72 -269,859 +2,21*2,082 I3>S # Treasurer-general account 939,li5l - 11,1*13 + 120,535 Foreign 671,178 + 2llt,806 - 1,210 Other 1.73,332 - 28,956 - 21,399 Total deposits 22,189,1*83 +2,51*8,1*67 -303,881 Deferred availability items 2,289,812 + 77,107 - 1*31*, 899 Other liabilities including accrued dividends 11,830 1,561 - 1*,665 TOTAL LIABILITIES 1*8,391*, 385 -1*09,957 +1,576,358 C A P I T AL A C C O U N TS »"• .' " I" ' I"1" •"•<• • l.»HI II I .1 , ' ii • » in Capital paid in 202,016 236 + 5,75U Surplus (Section 7) 1*66,711 + 18,522 Surplus (Section 13b) 27,51*3 Other capital accounts 76,053 6,1*55 1*5,398 TOTAL LIABILITIES AM) CAPITAL ACCOUNTS 1*9,166,708 -1*03,266 +1,61*6,032 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 1*9.9/° .6% .1.0% Contingent liability on acceptaBces.-t.par'.chased for foreign correspondents 3,357 Ik + 859 Commitments to make industrial loans 1,617 15 - 5,531 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.1(*>) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 12, 19^9 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis ulinn. Kans.Cy. Dallas SanFran. Gold certificates 22,363,1*51 71*2,889 7,238,561 1106,786 1558,997 1020,358 965,H*5 li33li,586 683,i+83 1*21*,728 783,836 627,81*7 2878,215 Redemption fund for F. R. notes 629,665 53,879 5l*,56l 59,935 75,156 58,609 1+1*,286 106,23k 1*1*.823 23,109 36,153 26,671 1*6,21*9 Total gold certificate reserves ' 22,993,096 796,768 7,293,122 1166,721 1631*, 153 1078,967 1007,1*31 1*1*1*0,820 728,306 1*1*7,837 819,989 65I*, 518 292U, 1*61* Other cash 325,636 35,500 51,518 22,871* 2^,071 23,929 26,572 l*l*,53l* 18,536 ll*,0l*9 11,631* 15,591* 36,825 Discounts and advances 3&*,196 19,91*9 192,1*75 19,1*80 3l*,5l*6 9,986 7,532 30,962 8,0i*5 1*,1*81 ll*,880 6,2?1* 15,786 industrial loans 3^0 767 73 U.S. Govt, securities: B i l ls 1*,851,939 296,133 1,169,157 330,501* 1*1*7,1*98 311,1*81 26o,l26 723,991 262,209 157,073 25l*,678 209,871 1*1*9,218 Certificates 6,317,769 1*35,851 1,1*97,21*8 1*30,353 582,691* 1*05,582 338,715 91*2,719 31*1,1*25 2ol*,52l* 305,578 273,276 559,80I* Notes 523,300 36,101 121*, 017 35,61*6 1*8,265 33,59i* 28,056 78,085 28,280 16,91*1 25,311 22,635 1*6,369 Bonds 10,772,357 71*3,163 2,552,91*1 733,792 993,51*5 691,555 577,538 1607,1*19 532,160 31*8,73l* 521,037 1*65,958 951*. 517 Total U.S.Government securities 22,1*65,565 1511,21*8 5,51*5,363 1530,2952072,002 iUl*2,2io i2ol*,l*35 5552,211* I2ili,07l* 727,272 1086,601* 971,71*02009,908 Total loans and securities 22,830,1*01 1531,197 5,535,838 1550,51*2 2io6,3l*8 11*52,269 1211,967 5585,176 1222,119 751,755 H0l,l*8l* 978,011* 2025,69!* Due from foreign banks ^ 3 l / l6 1* 1* 2 2 7 2 1 2 2 k F.R.notes of other banks 181,1*51* 7,978 18,281* 7,395 8,375 38,356 16,1*31 25,1*31* 8,081 9,916 10,572 10,1*01* 22,21$ Uncollected items 2,652,350 210,967 1*72,929 163,652 26i*,608 213,780 190,1*57 1*22,100 136,896 69,168 157,019 129,988 220,786 Bank premises 32,31*3 1,185 8,023 3,055 1*,867 2,557 1,57k 5,191 1.9U2 1,177 2,380 756 1,638 Other assets 151,579 10,1*91 55,821 10,01$ 13,975 9.6llx 8.123 22.282 8.501 li.8l,7 7.227 6.521 B.Q2Q TOTAL ASSETS 1*9,166,708 259^,089 13,1*15,551 29211,289 1*056,1*01 2819,1*51* 21*62,557 8359,51*1* 2i2li,383 1278,71*8 2110,507 1795,797 521*5,588 l/ After deducting $33,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lul(c) STATEMENT OF CONDITION OF THE FEDERAL REJEfiVE BANK SON ^JANUARY 12, llltf (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phi la, Cleve. Rich. Atlanta Chicago St.Louie Minn. ; Kans.Cy. Dallas SanFran. Federal Reserve notes 25,903,260 11*02,660 5,*472,766 161*7,U09 2153,221 1635,313 1313,122 14563,721; 113*4,166 623,635 936,032 616,1*63 21*19,71*7 Depositss iiember bank-reserve acct.20,105,**72 838,219 6,} *48,926 951,896 1*457,825 857,189 863,939 3083,873 771,1*23 1*95,598 956,1*50 961*, in 21*16,023 4 U.S.Treasurer-general acct. 959,1451 61,610 258,589 61*, 029 99,a°l 52,1*37 **2,915 135,563 *45,79*4 53*758 1*8,827 1*7,909 1*8,739 Foreign 671,178 1*2,305 1/211,793 53,720 61,778 32,90*4 27,531 92,667 21*,171* 16,788 21*,17*4 23,503 59,81*1 Other U73,382 U.255 395,091 1,738 8,3*46 5,3**1 l,l**7 2,651 6,11*6 2,155 815 372 1*5=295 Total deposits 22,189,1483 9**6,389 7,291*, 199 1071,**33 1627,1*30 9**7,87l 935,532 331**,73*4 81*7,537 568,299 1030,266 1035,895 2569,898 Deferred availability items 2,289,812 195,166 1*09,805 11*3,097 223,560 195,61*3 180,056 353,759 112,523 60,861* 111*,251 ill*,810 186,295 Other liabilities including accrued dividends 11,830 53** 3,960 61*1 1,088 676 512 1,856 500 570 1*17 **13 863 TOTAL LIABILITIES 1*8,39**,385 25*t**,7**9 13,180,730 2862,580 3985,299 2779,508 21(29,222 8251*,073 209**,728 1258,168 2080,91*6 1767,581 5176,801 Capital paid in 2c2,0l6 11,1*75 69,391 1*4,723 19,202 8,786 7,9*48 25,51*8 6,705 **,**85 7,00l4 7,8p-2 18,867 Surplus(Section 7) 1*66,711 29,31*7 11*3,019 36,70l4 143,968 22,1*17 20,028 68,8l42 17,97*4 11,797 17,008 114,95*4 140,653 Surplus (section 13b) 27,51*5 5,oil 7,319 *4,**89 1,006 3,3*49 762 1,1*29 521 1,073 1,137 1,307 2,il*o Other capital accounts 76,053 5,507 15,092 5,793 6,926 5,39*4 *4,597 9,652 1*,**55 3,225 1*,212 14,073 7,127 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*9,166,708 259^,089 13,1*15,551 292l*,289 **056,l40l 2819,15** 21*62,557 8339,5**** 2121*,383 1278,71*8 2110,307 1795,797 52**5,588 Contingent liability on acceptances-purchased for foreign correspondents 5,357 211 2/ l,06l 269 509 161* 158 1*63 121 8i* 121 117 299 Commitments to make industrial ~~ loans 1,617 70 — **5 966 127 281 28 100 F. R. notes outstanding 2**,935,737 l**88,9**9 5,688,078 1719,38622.19,557 1717,383 1379,538 1*729,313 1176,522 61*6,21*0 960,961 652,145*4 2557,596 Collateral for F.R.notes held by F.R.Agents: Gold certificates 13,579,000 1*60,000 1*,870,000 550,000 7**5,ooo 625,000 575,000 2765,000 .315,000 210,000 280,000 18*4,000 2000,000 Eligible paper 161,625 8,81*5 135,830 5,1**0 — 1,350 1,7^0 75 8,535 100 U.S.Govt, securities 12,200,000 1100,000 1,000,000 120CO00 1500,000 1150,000 850,000 2000,000 950,000 1*50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Tiithin 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 36i*,l96 238,635 15,868 105,269 i*737*r Industrial loans 8**0 735 2 80 15 8 o.S.Govt. securities 22,1*65,365 872,550 796,01*2 2,1*66,878 1,65**, 539 3,**62,072 1,917,61*7 525,300 2,033,522 8,738,835 l/ After deducting $1*59,306,000 participations of other Federal Reserve Banks. 2/ After deducting $2,296,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis