H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF' GOVERNORS OF THE FEDERAL RESERVE SYSTSF H#i|#l (For" Iismediate Releaae) February J, I9I4.9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 2, member bank reserve balances decreased )32lj-,000,000, Reductions in member bank reserves resulted from increases of ^1^9,000,000 in Treasury deposits with Federal Reserve Banks and ')&? 000,000 in 9 nonmember deposits arid other Federal Reserve accounts and a decrease of 0133,000,000 in Reserve Bank credit, offset in part by an increase of dl,000,000 in gold stock and decreases of )5*000,000 ^n money in circulation and .6,000,000 in Treasury cash. Excess reserves of member banks on February 2 were estimated to be approximately ^580,000000• f Holdings of loans, discounts and advances decreased ;>l6l,000,000, while holdings of United States Government securities increased U76,000,000. The increese in holdings of United States Government securities reflects increases of $21)1,000,000 in bills and ^2,000,000 in certificates and decreases of a7i;,000,000 in bonds and U#,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended February 2, 19^4-9* were as follows: Increase or decrease since February 2, January 26, February h 9 19149 19U9 19ffi" (in millions of dollars) \J. S. Government securities 22,215 +176 +1,692 Loans, discounts and advances 298 -161 + 56 Other Reserve Bank credit 313 -lli9 - 98 Total Reserve Bank credit 22,827 -133 +1,652 Gold stock 2i ,279 + 11 +1,31+5 4 Treasury currency ^,588 + 1 + 28 Member bank reserve balances 19,711 -321+ +2,627 Money in circulation 27,556 - 5 - 568 Treasury cash 1,327 - 6 + 18 Treasury deposits with F.R# Banks 1,281+ +1149 + 668 Nonmember deposits and otherF.R. accounts 1,816 + 65 + 280 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8TATEKEKT OF CONDITION H.lul(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Feb. 2, Jan. 26, Feb.'4, 19J4-9 1949 1948 A S S E TS Gold certificates 22,418,431 ++ 2299,,999999 +1,410,261 Redemption fund for F» R« notes 623,511 - 68,117 Total gold certificate reserves 23,oiU,9li5 •• 2266,,777755 +1,342,144 Other cash 370,Uo6 -- 11,,001166 1,147 Discounts and advances 297,077 --116611,,222244 • 56,966 Industrial loans 854 55 1,155 U« S* Govt, securities: Bills 5,220,126 +241,214 -4,574,295 Certificates 6,589,919 + 51,650 +2,102,856 Notes 414,250 - 43,000 -1,149,250 Bonds J-Oj 191.05k. .=JZ3.*2QQ. +50X3*265. Total U« S» Government securities 22,215,3U9 +176,164 •1,692,556 Total loans and securities 22,513,280 • 14,955 +1,748,587 Due from foreign banks 49 46 F. R. notes of other banks 149,315 - 15,565 + 12,068 Unc olle cte d i terns 2,622,696 -147,558 - 15,954 Bank premises 52,258 45 659 Other assets 158,976 • 5,978 + 25,700 TOTAL ASSETS 18,888,923 -118,474 +5,112,515 L I A B I L I T I ES Federal Reserve notes 23,577,559 « 12,680 - 570,546 Deposits : Member bank-reserve account 19,711,208 -524,185 •2,626,901 IT «S •Treasurer-general account 1,285,897 +i48,44o + 667,806 Foreign 751,551 + 51,542 + 225,678 Other klhSIl. .1.13^121 + 3,068 Total deposits -111,080 +5,525,455 Deferred availability items 22,198,007 + 1,500 + 85,268 Other liabilities including accrued 2,509,484 dividends — IO..713 -_ix562_ 4.103 TOTAL LIABILITIES 48,095,745 -124,027 +3,032,072 C A P I T AL A C C O U N TS Capital paid in 202,757 + 136 5,747 Surplus (Section 7) 466,711 + 18,522 Surplus (Section 13*>) 27,545 Other capital accounts ... 26*1.67 .•__5J02- * 56Q7JL TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 48,888,923 -118,474 +3,112,515 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 5o.5f» ,2?5 - Contingent liability on acceptances purchased for foreign correspondents 5,552 59 - 679 Commitments to make industrial loans 1,667 19 - 5,543 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE HANKS ON FEBRUARY 2, 1949 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas SanFraa* Gold certificates 22,1+18,1+51 730,517 7,196,505 1080,5511557,085 999,755 1008,751+1+557,751+ 699,576 1+62,649 818,861+ 666,61+0 2810,021 Redemption fund for F. R. notes 623,511+ 53,575 53,209 59,1+1+6 71+.756 56,521 1+3,981 105.775 U+.678 23,051 36.047 26.555 1x5.920 Total gold certificate reserves 23,oi+i,9l+5 854,092 7,2l+9,7ll+ 1159,777 l6ll,81+l 1056,256 i052,755 1+465,529 7l+l+,25l+ 1+85,700 354,911 695,195 2855,941 Other cash 570,406 59,480 65,011 24,107 52,540 26,400 26,548 50,701 19,558 14,015 14,187 16,280 45,799 Discounts and advances 297,077 12,559 98,002 17,865 27,159 16,554 16,790 29,955 H,657 5,:898 22,547 11,564 26,969 Industrial loans 854 791 65 U. S. Govt, securities: Bills 5,220,126 290,852 1,252,588 555,584 431,456 555,117 279,365 778,951 282,106 168,992 252,488 225,796 516,571 Certificates 6,589,919 1+40,829 1,514,547 435,269 589,548 410,215 51+2,585 955,484 545,524 206,860 509,068 276,596 566,198 Notes 414,250 23,578 98,175 28,218 58,207 26,594 22,209 61,815 22,587 15,411 20,056 17,918 56,706 Bonds 10,191,054 705,060 2,415,178 694,194 959,951 654,255 546,575 1520,679 550,745 529,915 492,921 1+1+0,814 905,009 Total U.S.Government securities 22,215,549 1465,299 5,230,086 1513,265 2048,942 1426,159 1191,050 3514,907 1200,562 719,178 1074,515 960,924 2022,484 Total loans and securities 22,515,280 1475.658 5,578,088 1551,921 2076,101 11+42,776 1207,820 55l+l+,84o 1212,199 725,076 1096,860 972,488 2049,453 Due from foreign banks 49 3 1 / 16 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 149,515 6,501+ l!T,255 4,051 6,609 1+4,126 15,820 17,65!+ 5,580 9,011 6,555 6,109 15,501 Uncollected items 2,622,696 212,292 475,296 165,895 268,558 215,057 184,742 4lO,772 112,070 72,775 142,102 113,669 248,688 Bank premises 32,2^8 1,180 8,005 5,047 4,855 2,549 1,568 5,185 1,958 1,174 2,574 755 1,632 Other assets 153,976 10,988 36.978 10,587 15.056 10.243 8.529 23.558 8.921 5.118 7.546 6.985 14.467 TOTAL ASSETS 48,888,923 2580,197 13,225,561 2877,569 4015,542 2797,409 2495,564 8514,226 2104,502 1512,870 2124,517 1814,481 5229,285 l/ After deducting $55,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

fUul(o) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANK OSN •FEBRUARY'2, 19^9 (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 ... Federal Reserve notes 23,577,539 1581;,903 5,1*00,966 1628,631 2101,129 1606,706 1296,299 1*516,756 1117,831 619,189 926, U*9 605,102 2373,878 Deposits: Member bank-reserve acct. 19,711,208 da, 81*9 6,327.0liU 906,1*55 ll*5U, 075 859.975 850,065 5055,297 759.938 1*86,21*6 932,521* 923,656 2371*, 108 U.S.Treasurer-general acct,1,285,897 70,352 216,61*3 77,682 101,052 76,752 99,298 159.938 73,525 107,813 86,711* 117,690 96,680 Foreign 751,551 1*5,657 1/255,810 57.952 66,61*5 55,1*96 29,700 99.967 26,078 18,110 26,078 25,35U 6U,50l* 0fcher - 1*71,571 1,285" 596,092 _ 2,111* 7,292 k*I18_ -JL.517 2,591 10,396 1,281* 3.706 1 165 38.1ill P Total deposits 22,I98,007 959.105 7,175,589 10U*,185 l609,oi*2 956,959 981,580 5317,793 81*9.755 615.1*55 101*9,022 1067,865 2575,705 Deferred availability items 2,309,1*81* 185,01*1* l*cA*,268 11*0,715 230,732 191,877 182,71*1* 369.506 105,561 58,600 118,51*0 111,827 210,270 Other liabilities including accrued dividends 10,715 565 2,1*39 617 1,381* 567 1*59_ 1.635^ 1*62 565 1*56 51*0 1.228 TOTAL LIABILITIES 1*8.095.71T5 2529,615 12,9837262" 28^711*6 391*2,287 2756,089 21*61,082 8205,1*90 2075,589 1291,605 209^, 167 1785,55*7 51597079 Capital paid in 202,757 11,1*67 69,623 11*,805 19.21*2 8,831 7,971* 25,61*9 6,719 1**512 7,133 7,910 18,892 Surplus (Section 7) 1*66,711 29,31*7 H*3,019 56,701* 1*5,968 22,1*17 20,028 68,81*2 17,971* 11,797 17,008 ll*,95i* 2*0,655 Surplus (Section 13b) £7,51*5 5,011 7,519 i*,l*89 1.006 3,31*9 762 1,1*29 521 1,073 1.157 1,507 2,ii*o Other capital accounts _96_,167 6,757 20.138 7,225 8,859 6,725 5/718 12.816 5,1*99 5.883 5.072 U.976 8,521 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*8,888,923 2580,197 15,225,561 2877,369 1*015,31*2 2797,1*09 21*95,561* 83H*,226 210l*,302 1312,870 2121*, 5I7 1811*,i*81 5229,285 Contingent liability on acceptances purchased for foreign correspondents 3,332 210 2/ 1,053 267 306 163 137 1*60 120 83 120 117 296 Commitments to make industrial loans 1,667 70 107 956 126 281 27 100 F.R. notes outstanding 21*,572,501* li*6l*,226 5,60l*,520 1702,899 2198,262 1668,168 1352,827 1*667,992 1160,989 639.298 91*8,1*22 639.771* 2525,127 Collateral for F.R. notes held by F.R.Agentss Gold certificates 13,1*9!*, 000 1*1*0,000 1*,770,000 550,000 7l*5»ooo 625,000 575,000 2700,000 315,000 210,000 280,000 181*,000 2100,000 Eligible paper 90,896 1,1*1*1* 1*3,255 !*.oo5 — 7,565 5,1*00 1,567 16,110 11,550 U.S.Govt, securities 12,150,000 1100,000 1,000,000 1200,^^05,00^1100^0^ 1*50,000 700,000 500,000 800,000 Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to \ Over Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 297,077 127,761 12,622 2.99I* Industrial loans 153.700 851* 759 2 70 15 U«S.Govt. securities 22,215,31*9 1,11*9,919 2.185.158 992,017 3,1*02,072 2,01*6,11*7 1*H*,250 1,972,012 8,219,01*2 1,831*. 732 l/ After deducting $1*95,1*89,000 participations of other Federal Reserve Banks. 2/ After deducting $2,279,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis