H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H,2±.l (For Immediate Release) January 27, 1949 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 26 member bank reserve balances decreased $98,000,000. Reductions in member bank reserves resulted from increases of $331,000,000 in Treasury deposits with Federal Reserve Banks and $6,000,000 in Treas ury cash and a decrease of $39#000,CC0 in Reserve Bank credit, offset, in part by decreases of $156,000,000 in money in circulation and $118,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $1**000,000 in gold stock. Excess reserves of member banks on January 26 were estimated to be approxi mately $920,000,000, Holdings of loans, discounts and advances increased $217*000*000, while holdings of United States Government securities decreased $78,000,600» The de crease in holdings of United States Government securities reflects decreases of $338,000,000 in bonds and $142,000,000 in notes and increases of $268,000,000 in bills and $3^*000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended January 26, 19^9* were as follows: Increase or decrease since January 26, January 19, January 28, 1949 1949 i|4e (in millions of dollars) U» S* Government securities 22,039 78 + 52 Loans, discounts and advances 459 + 217 + 176 Other Reserve Bank credit 4S2 177 + 73 Total Reserve Bank credit 22,960 39 + 302 Gold stock 24,268 + 4 +1,374 Treasury currency 4,567 + 1 + 29 Member bank reserve balances 20,035 98 +2,730 Moiioy in circulation 27/561 156 - 525 l-.-oury C ash 1,333 + 6 + 1 ra sury deposits with F* R# Banks 1,135 + 331 - 810 Ko:omember deposits and other F#R»acoounte' 1,751 118 + 308 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.2+a(a) OF THE T'iEVJE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Jan* 26, Jan» 19, Jan* 28, 1949 1949 I9I4S A S SB T S Gold certificates 22,388,2+32 • 20,002 +1,1423,262 Redemption fund for F. R« notes 626,738 448 * 6h,3bh Total gold certificate reserves 23/015,170 «• 19,554 +1,358,918 Other cash "371,1422 • U,975 - 9,100 Discounts and advances •458,301 •216,794 + 177,237 Industrial loans 859 42 U# S. Govt, securities: Bills 4,978,912 +268,532 -5,025,1409 Certificates 6,338,269 + 33,500 + 238.31U Notes 457,250 - 142,000 -li085;500 Bonds 10,264,754 -338,113 *5,725,155 Total Uc S. Government securities 22,039,185 - 78,281 + 52,560 Total loans and securities 227£9S;W +138,555 + 228,655 Due from foreign banks I46 F. R# notes of other banks 1614,876 •* 25,580 + 8,008 Uncollected items 2,770,231; -1410,699 - 1,617 Bank premises 32,303 35 - 663 Other assets 1514,998 • 16J4 + 17,539 TOTAL ASSETS 1(9,007,397 -2614,066 +1,601,69^ L I A B I L I T I ES • •• .„•• »,,.!, ,,.„!,, -• i ..I -I.... 23,590,219 -1I46J421 - 568,866 Federal Reserve notes Deposits: Member bank-preserve account 20,035,393 - 97,118 +2,730,1471 U*S•Treasurer-general account 1,135,1457 +331,661 - 809,210 Foreign 679,789 - 35,196 + 2714,011; Other I458,! .I48 - 93,388 - 23,588 22,309,087 +105,959 Total deposits +2,171,687 Deferred availability items 2,308,181; -233,673 - 75,221 Other liabilities including accrued dividends 12,282 * 1,297 3,974 TOTAL LIABILITIES I48.2i9.772 -272,838 +1,523,626 C A P I I AL A C C O U N TS Capital paid in ' 202,621 3142 + 5,720 Surplus (Section 7) li66,711 + 18,522 Surplus (Section 13^) 27,5143 Other capital accounts 90,750 * 6,1430 + 53,826 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ^9,007,597 -2614,066 +1,601,6914 Ratio of gold certificate reserves to deposit and F« R# note liabilities combined 50.1?ff f 1,2% Contingent liability on acceptances purchased for foreign correspondent 3,273 76 178 Commitments to make industrial loans 1,686 IB 5,35U 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 JANUARY 26, 191+9 (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 22,588,1+52 759,198 7,145,679 1115,051 151+6,608 980,944 991,910 1+598,1+05 668,191+ 459,714 824,1+57 667,61+5 285l+,6l+9 Redemption fund for F. R. notes 626,758 55,757 55,887 59,708 74,954 57,736 l+l+,l5l+ 106,007 44,741 25,076 56,094 26,605 1+6,059 Total gold certificate reserves 25,015,170 812,955 7,197,566 1172,759 1621,562 1058,680 1056,044 1+504,412 712,955 462,790 860,551 694,21+8 2900,708 Other cash 571,422 58,1+18 65,755 25,527 28,946 27,075 29,560 51,277 20,155 15,190 15,009 16,225 40,511 Discounts and advances 458,501 14,549 21+0,000 17,455 54,135 12,356 8,015 67,047 18,945 4,i+C6 12,250 8,169 21,256 Industrial loans 859 796 65 —- .*• S. Govt, securities: Bills 4,978,912 312,945 1,195,223 359,151+ 1+59,209 519,652 266,955 71+2,958 269,070 161,185 2i+0,820 215,562 i+56,445 Certificates 6,558,269 457,261+ 1,502,106 1+51,751 584,584 1+06,898 559,815 945,778 542,552 205,188 306,569 274,162 561,622 Notes 1+57,250 31,545 108,561+ 51,147 42,175 29,554 24,514 68,229 24,711 14,803 22,116 19,778 1+0,516 Ponds 10,264,754 708,145 2,1+32,6J44 699,2il+ 946,729 658,966 550,52.1+ 1531,676 554,728 352,501 496,1+86 444,002 909,559 • Total U.S.Government securities 22,059,185 1489*899 5,258,557 1501,266 2052,695 1414,850 1181,586 5288,621 1191,041 713,475 1065,991 953,504 1968,120 Total loans and securities 22,1+98,545 1504,21+8 5,1+78,557 1519,497 2c66,850 11+27,21+9 1189,599 5555,668 1209,986 717,881 1078,221 961,1+75 1989,556 Due from foreign banks 1+9 5 l/ 16 1+ 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 164,876 5,855 15,511 4,86l 8,1+00 i+2,565 15,265 21,268 8,1+16 10,876 7,449 6,829 19,985 Uncollected items 2,770,254 210,110 1+88,981 167,846 281,976 2i+0,295 198,175 1+50,208 138,561+ 74,521 ll+6,121 ll+l,795 21+9,644 Bank premises 52,505 1,185 8,025 5,047 4,854 2,549 1,568 5,190 1,941 1,177 2,580 757 1,632 Other assets 154,998 10,730 36,525 10,524 14,1+82 9,920 8,275 25,150 8,702 i+,965 7,286 6,721 14,142 TOTAL ASSETS 49,007,597 2585,484 15,288,290 2905,81+5 4027,054 2788,129 21+76,286 8589,160 2100,699 1287,599 2119,019 1828,050 5215,982 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.iul(c) STATEMENT OF CONDITION OF ThE FEDERAL RESERVE BANKS ON JANUARY 26, I9J+9 (In thousands of dollars) LI 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 23,590,219 1383,170 5,2*00,533 1627,526 2107,626 l6lo,ll*2 129I4,633 2*520,1481 1118,02*7 620,033 922,,578 605,2702378,180 Deposits s Member bank-reserve acct.20,035,393 8U8.9U0 6,50^,135 92*1,188 12*1*1,251 828,755 8i4.i1,778 3132,327 72*7,078 1*78,133 933,916 951,2*32* 2383,2*58 U.S.Treasurer-general acctj., 135,2*57 71,08ii 1145,217 73,788 111,902 59,0614 78,997 186,831 65,728 87,2*96 86,566 95,130 73,352* Foreign 679,789 [,2,6951/216,020 52*,216 62,31,9 33,207 27,786 93,523 21,,595 16,92*3 214,397 23,720 6o,338 Other U58,UkQ 3,591 387.21*2 1,718 7,lU3 2,910 2,667 1,231 5,660 1,816 12J. \ >,(> 39,853 Total deposits 22,309,087 966,310 7,252,6ll4 1070,910 1622,6145 923,936 95i,,228 32*16,912 81,3,061 58lt,388 101,6,092 1070-938 2557,003 Deferred availability it ems 2, 3 08,182*. 183,097 392,871 12*1,983 222,9149 212,1407 192,731 32*2,051 108,639 61,519 117,752 122,371, 209,811 Other liabilities including accrued dividends 12,282 578 5,758 659 1,320 725 561, 1,92*7 521 375 2,80 533 82,2 TOTAL LIABILITIES 1,8,219,772 2533,155 13,0149,776 281,1,058 395it,5UO 27U7.210 2l4l42,156 3281,391 2070,268 1266,315 2088 ..voy 1799=165 511*5,836 Capital paid in 202,621 11,1488 69,600 Hi. 772 19,22*6 8,815 7,967 25,598 6,709 i*,5ci* 7,125 7,905 18,892 Surplus (Section 7) 1466,711 29,32*7 Hi3»oi9 36,7Cl4 1*3,968 22,1,17 20,028 68,81,2 17,971* 11,797 17,003 114,952* 240,653 Surplus (Section 13b) 27,52*3 3,011 7,319 U.U89 1,006 3.3U9 762 1,1*29 521 1,073 i,i37 1,307 2,11,0 Other capital accounts 90,750 6,1,83 18,576 6,822 8,2914 6,338 5,373 11,900 5,227 3,710 2*, 81,7 14,719 8,l46l TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2*9,007,397 2583,2*81* 13,288,290 2903,81*5 2*027,05!* 2788,129 21,76,286 8389,160 2100,699 1287,399 2119,019 1828,050 5215,982 Contingent liability on acceptances purchased for foreign correspondents 3.273 206 2/ 1,032* 262 301 160 132* 2*52 118 82 118 115 29I Commitments to make indus trials loans 1,686 70 — 115 966 126 281 28 — — — — 100 F.R. notes outstanding 21,,688,025 12,73,22,6 5,618,155 1711,318 2206.768 1681,900 1365,270 14688,9214 1163,538 61*1,601* 953,169 6245,799 2538,332* Collateral for F.R. notes held by F.R.Agentsj Gold certificates 13,52*9.000 1*60,000 li,770,000 550,000 72*5, 000 625,000 575,000 2735, ,000 315,000 210,000 280 ,000 182*,000 2100,000 Eligible paper 213,1470 3,2145 182*,155 3., 335 3,700 — 12,600 5,. ,8C5 ~ 5,550 U.S.Govt, securities 12,150,000 1100,000 1,000,000 1200 ,000 1500, 000 1100,000 850,000 2000, ,000 950,000 1450,000 700, ,000 500,000 800,000 I'iATURITY 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 y«ars Discounts and advances 2*58,301 287,822 92,360 75.269 2,850 — — — — Industrial loans 859 761* — -- 2 70 15 8 U.S.Govt, securities 22,039,185 996,1*92 826,685 2726,282, 12,014,001 3397,072 1966,6k 7 2*57,250 :1 979,512 8,285,2142 l/ After deducting $U6j,5^6,000 participations of other Federal Reserve Banks* 2/ After deducting $2,239,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis