H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS OF THE FEDB1AL RESERVE SYSTEM H«,I>1 (For Immediate Release) February 10, 19^9 CONDITION OF THE FEDERAL RESERW, BANKS IXiring the week ended February 9t member bank reserve balances decreased )ll!{.,000,000. Reductions in member bank reserves resulted from an increase of vll46,Q00,000 in Treasury deposits with Federal Reserve Banks, offset in part by an increase of )9»000,000 in Reserve Bank credit and a decrease of ^26,000,000 in nonmember deposits and other Federal Reserve accounts• Excess reserves of member banks on February 9 were estimated to be approximately 1570,000,000. Holdings of loans, discounts and advances decreased -U6,000,000, while holdings of United States Government securities increased Jl35>000,000# The in crease in holdings of United Statue Government securities teflecte increases of ^178,000,000 in certificates and 367000,000 in bills and decreases of .$6,000,000 f in bonds and $25,000,000 in notes* Changes in member bank reserve balances and related items during the week and the year ended February 9> 19^9* were as follows: Increase or decrease since February 9» February 2, February 11, I9h9 19U9 19i48 (in millions of dollars) U. S» Government securities 22,350 +135 +1,533 Loans, discounts and advances 252 - 2<6 - 329 Other Reserve Bank credit 23k - 79 - 100 Total Reserve Bank credit 22,836 • 9 +1,102+ Gold stock 21+.279 +1,31+6 Treasury currency i+,587 - 1 + 28 Member bank reserve balances 19,597 -111+ +2,560 Money in circulation 27,557 + 1 - 632 Treasury cash 1,327 + 19 Treasury deposits with F.R. Banks 1,1+30 +llj6 + 22+3 Nonmember deposits and other F.R* accounts 1,790 - 26 + 287 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.U.X(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 9, Feb, 2, Feb. 11, 191*9 191*9 191*8 A S S E TS Gold certificates 22,U8,lt31 +1,1.10,261 Redemption fund for F. R # notes 623,579 ^__ 115 ~ 66,952 Total gold certificate reserves 23, da, 8 id 155 +1,31*3,309 Other cash 557,061 - 13,51*5 2*, 82*3 Discounts and advances 251,155 - 1*5,922 - 326,625 Industrial loans 1,956 80li 50 U S, Govt, securities: ? Bills 5,287, Ola + 66,915 -a, 181,2*03 Certificates 6,568,269 +178,550 +2,221,936 Notes 589,550 - 21^,700 -i,2o2*,950 Bonds 10.105.125. H-U.,697.,lli7- Total U» S, Government securities 22,31*9,985 +15U, 656 +1,532,730 Total loans and securities 22,601,92*2* + *8,66U +l,20i*,ll*9 Due from foreign banks 1*9 - '2*6 F R notes of other banks # m 12*1,052* - 8,259 + 12,2*86 Uncollected items 2,332,529 -290,567 - 2324,596 Bank premises + 3 658 52,261 Other assets + 5,362 _+ 21*,288 161;, 558 TOTAL ASSETS 2*8,670,32*6 -218,077 +2,555,775 L I A B I L I T I ES Federal Reserve notes 25,558,722 - 18,817 - 625,626 Deposits? Member bank-reserve account 19,596,912 -111;,296 +2,559,551 U.S.Treasurer^general account 1,2*50,1*50 +11*6,555 + 22*5,825 Foreign 718,226 - 15,105 + 276,157 Other US1A15.. - lUj.156 Total deposits 22,202,985 + it, 9*76 +3,032*, 688 Deferred availability items 2,098,271* -211,210 - 132*, 771* Other liabilities including accrued dividends 10.902 _+_ 31... r. 5,757 TCIAL LIABILITIES 1*7,870,781 -22li,96li +2,270,551 C A P I T AL A C C O U N TS Capital paid in 202,991 + 231* + 5,832 Surplus (Section 7) 1*66,711 + 18,522 Surplus (Section 13b) 27,51*3 Other capital accounts 102^820 +._6*65I ± 58x§2P__ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2*8,670,81*6' -218,077 +2,553,775 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 50.2*% .1% •3'J(f/f » Contingent liability on acceptances purchased for foreign correspondents. 3,356 22* - '695 Commitments to make industrial loans 1,736 69 - 5,2*58 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 9, 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 22,1+18,1+31 779,36l 7,190,966 1089,1+65 1557,125 987,207 992,231+1+31+9,552 676,579 1+71,686 797,130 656,9012869,725 Redemption fund for F. R. notes 623,379 55,569 53,179 59,1+39 7l+,7l+6 56,509 i+3,970 105,755 1^,670 23,01+7 56,039 26,51+8 1+5,908 Total gold certificate reserves 23,01+1,810 855,^+50 7,2ljl+,ll+5 lll+8,90l+ 1631,871 ioi+5,7l6 1056,20!+ 1+1+55,307 721,21+9 l+9i+,733 833.169 683,14+9 2915,633 other cash 357,061 58,866 59,956 25,71+7 28,01+1 25,855 27,771 51,822 18,291+ 15,05!+ 12,011+ 15,811 1+1,850 Discounts and advances 251,155 li+,509 66,502 18,950 57,591+ 18,85!+ 7,623 30,383 8,112 5,61+8 15,1+U7 10,061+ 17,669 Industrial loans 80l+ 739 65 U. S, Govt, securities: Bills 5,287,01+1 320,255 1,268,21+7 560,11+2 1+87,628 539,1+13 283,1+51 788,917 285,723 171,158 255,721+ 228,690 1+97,715 Certificates 6,568,269 1+53,132 l,556,6li+ l+itf,l+l8 605,797 1+21,663 352,11+5 980,097 35l+,963 212,635 317,693 28l+,lll 582,001 Notes 389,550 26,371+ 92,319 26,535 35,929 25,008 20,885 58,128 21,052 12,611 18,81+2 16,850 3^,51? Bonds 10,105,125 697,132 2,39l+,8ll+ 688,51+1 952,006 61+8,719 51+1,766 1507,856 51+6,101 527,133 ^88,765 1+37,097 895,395 Total U.S.Government securities 22,31+9,985 ll+97,371 5,3H,99l+ 1522,1+36 2061,360 ll+3l+,805 1198,21+7 533^,998 1207,839 723,537 1081,021+ 966,71+8 2009,628 Total loans and securities" 22,601,91+1+ 1511,880 5,378,296 151+2,125 2098,951+ 11+53,722 1205,870 3365,381 1215,951 729,185 1096,1+71 976,812 2027,297 Due from foreign banks 1+9 • 3 l/ 16 1+ 1+ 2 2 7 2 1 2 2 1+ F.R.notes of other banks ll+l,05i+ 6,099 13,396 l+,00l 6,282 1+2,690 15,1+68 15,731 6,327 5,853 l+,779 5,338 15,090 Uncollected items 2,352,329 180,1+61+ 1+02,617 157,1+10 218,638 211,683 177,871 358,807 109,017 62,137 125,795 Hi+,775 213,115 Bank premises 32,261 1,180 8,005 5,01+7 l+,853 2,5i+9 1,568 3,185 1,938 1,17k 2,37l+ 756 1,652 other assets l61+,558 11,370 38,580 10,931+ 15,11+9 10,650 8,830 2l+,307 9,268 5,2?9 7,859 7,070 15,01+2 TOTAL ASSETS 1+8,670,81+6 2583,292 13,11+5,011 2890,172 1+003,792 2790,867 21+73,581+ 8271+.51+7 : 2082,01+6.1313,3^6 2082.1+63 1802,015 5229,665 l/ After deducting $53,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HJi.l(o) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 9, 1949 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cieve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas SanFran. Federal Reserve notes 25,558,722 1586,819 5,376,179 1627,572 2105,188 1605,229 1296,560 4515,805 1114,959 620,200 925,259 605,904 2585,1+50 Deposits s Member bank-reserve acct. 19,596,912 820,827 6,521,662 914,008 l42li,507 81+0,774 858,191 5001,479 758,700 482,052 907,199 932,659 2555,091+ U.S.Treasurer-general acct. 1,450,450 105,282 255,615 88,554 125,165 66,090 80,522 254,U58 65,596 117,188 81,1+39 98,1+72 156,269 Foreign 718,226 44,906 1/250,659 57,024 65,578 54,927 29,225 98,566 25,661 17,820 25,661 21+ .9I+8 63,1+71 Other kblMb 5,007 586,215 1,655 7,029 5,999 2,274 2,765 6,584 1,565 3,807 _5I2_ 58,31+5- Total deposits 22,202,985 97i+,022 7,l7l+,i5i 1061,219 162'0,079 9li5,790 970,012 5557,068 854,51+1 618,605 1018,106 1056,1+31 2595,179 Deferred availability items 2,098,274 170,780 550,1+05 137,21+9 205,759 199,U57 171,869 510,565 101,151 52,725 107,885 111,751+ 180,877 Other liabilities including accrued dividends 10,802 -57,7JL1 2,81+2 691 1,11+5 621+ __52p_ 1,762 491 599 1+92 1+17 _Bj8_52P'_J TOTAL LIABILITIES 47,370,781 "2532,I92 12,905,555"2"82"6755i 5930",169 271+9,100 2I+T8,761 ~8l31,998 2050,942 1291,929 2051,71+2 1772,506 5158,556 Capital paid in 202,991 11,1+76 69,651 H+,819 19,259 8,81+8 7,999 25,677 6,721 i+,515 7,155 8,00l+ 18891 t Surplus (Section 7) 1+66,711 29,51+7 11+5,019 36,701+ 1+3,968 22,1+17 20,028 68,81+2 17,97li 11,797 17,008 ll+,954 1+0,655 Surplus (Section 13b) 27,51+3 5,011 7,519 4,1+89 1,006 5,51+9 762 1,1+29 521 1,075 1,157 1,507 2,11+0 Other capital accounts 102^820 7,266 21,487 7.629 9,590 7.153 6.051+ 13.601 5.888 1+.081+ 5.1+25 _i,2k2. 9,623 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 48,670,846 2583,292 13,11+5,011 2890,172 i+003,792 2790,867 21+75,581+ 827l+,547 2o82,ol+6 1513,396 2082,1+65 1802,015 5229,665 Contingent liability on acceptances purchased for foreign correspondents 3,556 ?11 2/ 1,060 268 309 161+ 138 1+65 121 81+ 121 118 299 Ccamitiaents to make industrial loans 1,756 55 — 159 956 155 29I+ 22 97 F.R_ notes outstanding 21+,1+91,255 lii6l,925 5,57l+,751 1697,580 2195,1+80 1660,289 1351,687 1+61+9,903 1157,992 657,505 948,695 61+0,01+2 2517,1+04 Collateral for F.R. notes held by-F.R.Agents? Gold certificates 15,564,000 1+1+0,000 1+,770,000 550,000 7l+5,ooo 625,000 575,000 2670,000 515,000 210,000 280,000 184,000 2000,000 Eligible paper 1+4,656 5,594 11,1+55 5,090 — 9,865 1,875 1,517 9,210 2,250 U.S.Govt, securities 12,150,000 1100,000 1,000,000 1200,000 1500,000 1100,000 850,000 2000,000 950,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF 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 251,155 I68,l+l4 76,265 5,019 1,1+57 Industrial loans 80l+ 707 2 4 72 15 U,S.Gov£, securities 22,51+9,985 1,295,817 1,827,61+5 1,988,059 11,,117777,,5511++22 5,4ll+,572 2,155,897 389,550 1_,.9,.6 6,825 8,158,302 1/ After deducting $1+87,555,000 participations of other Federal Reserve B nks. a 2/ After deducting $2,296,000 participations of other Federal Reserve B nks« a Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis