H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERW, SYSTEM Hvlwl (For Immediate Release) February 2l\ 19^9 f CONDITION, OF THE...EEOBRAL RESERVE BANKS During the week ended February 23 member bank reserve balances decreased 56,000,000^ Reductions in member bank reserves resulted from increases of 171,000,000 in money in circulation,- )22, 000,000 in nonmember deposits and other Federal Reserve accounts, and ^3,000,000 in Treasury cash and a decrease of )79,000,000 in Reserve Bank credit offset in part by a decrease of 5163,000,000 in Treasury deposits with Federal Reserve Banks and an increase of )6,000,000 in gold stock* Excess reserves of member banks on February 23 were estimated to be approximately 5620,000,000, Holdings of loans, discounts and advances increased )65,000,0O0 and of United States Government securities 155,000,000* The increase in holdings of United States Government securities reflects increases of )93»000,000 in certifi cates and )35,000,000 in bills and decreases of )71,000,000 in bonds and )2,000,000 in notes• Changes in member bank reserve balances and related items during the week and the year ended February 23, 19U9, were as follows: Increase or decrease since February 23, February 16, February 25, 1 191+9 191L9 19l£ 'P 11' i i (In millions of doll .ars) U*' S^ Government securities 22,358 + 55 +1.321+ Loans, discounts and advances 301+ + 65 + 21 Other Reserve Bank credit 185 -199 -• 205 Total Reserve Bank credit 22,81+7 - 79 +1,11+0 Gold stock 2i+,290 + 6 +1,262 Treasury currency + 29 14,586 Member bank reserve balances 19, Ua - 6 +2,6142 Money in circulation 27,551 + 71 - 503 Treasury cash 1,326 + 3 Treasury deposits with F.R* Banks 1,591 -163 - 65 Nonmember deposits and other F«R«*accounts; s 1,8 li+ + 22 + 356 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.l*.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 23, Feb. 16, Feb. 25, 19^9 19^9 19U8 A S S E TS Gold certificates 22,1*28,1*32 + 10,002 +1,332,262 Redemption fund for F. R. notes _ 61Z,JL88 _-_Ji289 -_ 62,861 Total gold certificate reserves "23,6U 5,620 + 6,713 +1,269^0! Other cash 355,250 - 18,99** - 12,630 Discounts and advances 303,057 + 65,051 + 23,908 Industrial loans 780 7 3,573 U, S. Govt, securitiess Bills 5,305,910 + 35.U93 -3,976,9U3 Certificates 6,751,769 • 92,500 +2,389,686 Notes 379,050 - 1,500 -1,31*2,800 Bonds .._9,92l,76g„ +ii,25li,7l2 Total U. S. Government securities 22,358,1*91 + 55,318 +1,32U,655 Total loans and securities 22,662,328 +120,362 +1,31*1*, 990 Due from foreign banks U9 1*6 F. R, notes of other banks 125,1*1*9 - 9,792 1,1*56 Uncollected items 2,31*0,659 -792,876 - 1*55,699 Bank premises 32,235 19 656 Other assets 17U,732 + 5,166 + 21*, 500 TOTAL ASSETS 1*8,736,322 -689,1*1*0 +2,168,1*01* L I A B I L I T I ES Federal Reserve notes 23,527,511 +1*6,295 - 537,981* Deposits: Member bank-reserve account 19,1*1*0,860 - 6,11*5 +2,61*1,570 U.S.Treasurer-general account 1,591,108 -163,386 - 61*, 867 Foreign 750,266 + 21,697 + 301,505 Other 9,183 1*1*3,172 Total deposits -153,216 +2,869,025 22,225,1*06 Deferred availability items -593,067 - 250,331 2,156,01*3 Other liabilities including accrued dividends 15.303 +„iu282 3hL. TOTAL LIABILITIES 1*7,921*,263" -695,706 +2,080,366" C A P I T AL A C C O U N TS Capital paid in 203,339 • 257 + 5,955 Surplus (Section 7) U66,7H — + 18,522 Surplus (Section 13b) 27,5^3 — Other capital accounts llii,Ii66 • 6,009 + 63,561 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1*8,736,322' -689,1*1*0 "+2,168,1*61*" Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 50.1*95 •2fo •/" Contingent liability on acceptances purchased for foreign correspondents 3,508 107 1,U79 Commitments to make industrial loans 1.61*3 85 6,267 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 25, 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 22,428,432 786,919 7,115,945 1139,998 1635,082 990,795 974,020 1+405,570 661,681 452,771 799,225 648,519 2820,107 Redemption fund for F. R. notes 6i7,l88 55,257 51,805 58,894 74,534 54,123 45,673 105,499 1+4,537 22,984 35,94l 26,1+95 45,61+8 Total gold certificate reserves 23,045,620 840,176 7,167,748 1198,892 1707,4l6 101+4,918 1017,693 4510,869 706,218 475,755 835,166 675,014 2865,755 other cash 355,250 36,875 62,805 23,596 51,475 22,744 24,716 51,274 18,954 14,679 12,321 14,246 41,787 Discounts and advances 303,^57 15,955 81,597 28,170 24,421+ 22,889 12,921 38,255 12,452 7,751 27,472 15,064 18,169 Industrial loans 78O 715 65 U. S. Govt, securitiesj Bills 5,305,910 355,619 1,265,665 361,426 489,368 540,624 284,465 791,753 286,742 171,769 256,657 229,506 476,360 Certificates 6,751,769 465,790 1,600,102 459,917 622,725 453,444 361,985 1007,478 564,880 218,575 526,569 292,047 598,261 Notes 579,050 26,150 39,351 25,820 34,960 2l+,334 20,522 56,561 20,484 12,271 18,554 16,596 53,587 Bonds 9,921,762 634,433 2,551,558 675,851 915,094 656,947 551,955 1480,496 536,192 321,197 479,396 429,166 879,147 Total U»S«Government securities 22,353,491 1550,042 5,504,954 1525,014 2062,145 1455,349 1198,703 3336,268 1208,293 723,812 1081,436 967,115 1987,355 Total loans and securities 22,662,328 1545,997 5,336,551 1551,899 2086,569 1458,505 1211,624 3374,501 1220,730 731,545 1108,908 980,179 2005,524 Due from foreign banks 49 5 l/ lo 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 125,1+1+9 7,577 9,750 4,265 7,267 52,965 14,220 12,607 6,564 6,51+4 5,004 5,971 14,715 Uncollected items 2,540,659 190,580 465,020 161,162 252,402 197,151 170,088 537,585 100,910 59,109 117,387 114,981 196,504 Bank premises 32,255 1,180 8,005 5,042 4,849 2,542 1,567 3,185 1,933 1,174 2,374 755 1,626 other assets 174,732 12,002 4l,l79 11,450 16,226 11,560 9,544 25,875 9,729 5,562 8,517 7,787 15,903 TOTAL ASSETS 48,736,522 2654,190 15,159,074 2954,110 4086,206 2769,965 21+49,254 3515,901 2065,025 1294,367 2089,479 1796,933 5i4l,8l3 l/ After deducting $33,000 participations of other Federal Reserve Banks,. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

iU.l(c) STATEMENT OF CONDITION OF TIE FEDERAL RESERVE BAMS ON FEBRUARY 23, I9U9 (In thousands of dollars) L I AB 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 23,527,511 1389,59k 5,376,620 I636,361i 2103,925 159it,k29 128li,910 1*518,181 1108,lil3 618,218 920,307 599,k71 2377,079 I)enosits ? Member bank-reserve acct. 19,1*1*0,360 818,81*8 6,305,957 896,171 11419,097 825,901* 8l*9,83k 3000,91*1 715,955 k70,9kk 91k,585 917,096 2305,5k3 U.S.Treasurer-general acct.i t 591,108 135,962 200,317 138,597 181,756 78,1*62 80,503 27k,02l4 82,717 108,315 85,851 107,718 116,886 Foreign 750,266 1*6,828 1/21*1,789 59,k6k 68,383 36,1*22 30,1475 102,575 26,759 18,583 26,759 26,016 66,213 0ther kk5,172 3,195 381,189 h5&L 5,506 1,717 1,961 _3il87 5,211 1,122 _i93 k2.3__._j6,279. Total deposits 22,225,1*06 100l*,833 7,129,252 1096,815 1671*,7U2 9^2,505 962,773 3380,727 830,622 599,561* 1027,388 1051,259 252l*,926 Deferred availability items 2,156, Ok 3 187,15k 382,827 155,718 231,1*06 189,86k 165,505 303,577 93,712 5^,309 109,959 115,5kk 166,1*68 Other liabilities including accrued dividends 15,303 672 6,196 731 1,392 61*5 579 2,021 516 5J9_. 512 _.__23_ 1_,_127_ TOTAL LIABILITIES l*7,92k,263 2582,253 12,89k,895 2889,628 koil,l*65 2727,1*1*3 21*13,767 82ol*,5o6 2033,263 1272,1*80 2058,166 1766,797 5069,600 Capital paid in 203,339 ll,k80 69,639 lk,8k0 19,200 8,883 8,022 25,765 6,7k5 k,526 7,17k 8,108 18,957 Surplus (Section 7) k66,711 29,3k7 Ik3,0l9 36,70k k3,968 22,1*17 20,028 68,Sk2 17,97k 11,797 17,008 Ik,95k ko,653 Surplus (Section 13b) 27,5k3 3,011 7,319 k,k89 1,006 3,3k9 762 1,1*29 521 1,073 1,137 1,307 2,lk0 Other capital accounts llk,k66 8,099 21*, 202 8,kk9 10,567 7,873 6,675 15,359 6,522 k,k9l 5,99k 5,767 10,k68 TOTAL LIABILITIES AND CAPITAL ACCOUNTS t*8773"6,J22"2S3tT, 190 15,159,07k 'WftV >,l?05~2759,965 21*1*9/25^ 83T579or2W,o25 129^,567 2o897k79 1796,953 ~51kl,318 Contingent liability on acceptances purchased for foreign correspondents 3,508 221 2/ 1,108 281 323 172 lkk k8l* 126 88 126 123 312 Commitments to make industrial loans l,6k3 36 107 956 lkk 281 22 97 F.R. notes outstanding 21*, 318,609 Ikk6,k92 5,53k,386 1690,979 2185,196 I6k2,3k0 13k2,5k2 k62l,7lo llk8,958 63k,985 9k2,65k 633,857 2l*9l*,5l0 Collateral for F.R. notes held by F.R.Agentss Gold certificates 13,23k,000 kkO,000 1*,670,000 550,000 7k5,000 625,000 575,000 26k0,000 315,000 210,000 280,000 18k,000 2000,000 Eligible paper 90,030 5,0k0 23,200 Ik,310 13,900 — u6,x,y1?95 5?,,ik*ouou 21,235 — 2,750 U.S.Govt, securities 12,100,000 1100,000 1,000,000 1200,000 1500,000 1050,000 850,000 2000,000 950,000 k5o,ooo 700,000 500,000 800,000 MATURITY DISTRIBUTION CF LQAIIS 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 years Discounts and advances 305,057 195,030 k,880 3,817 101,330 Industrial loans 780 683 2 72 U.S.G 0 vt. securities 22,358,k9l 2,297,k51 1,11*6,591 1,600,326 1,282,31*2 3.518,932 2,315,897 379,050 l,86U,U63 7>95U,939 l/ After deducting $508,i|17>000 participations of other Federal Reserve Banks. 2/ After deducting $2,[|00,000 participations of other Federal Reserve Banks # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis