H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS Of THE FEDERAL RESERVE SYSTEM H.l+.l (For Immediate Release) March 3* 19il9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 2 member baiik reserve balances increased $2l;3000,000t Additions to member bank reserves resulted from decreases of f 57114,000,000 in Treasury deposits with Federal Reserve Banks and ;6,000,000 in Treasury cash, offset in part by a decrease of 31*25,000,000 in Reserve Bank credit and increases of )6,000,000 in money in circulation and 2147,000,000 in nonmember deposits and other Federal Reserve accounts# Excess reserves of member banks on March 2 were estimated to be approximately s750,000,000* Holdings of loans, discounts an4 advances decreased 362,000,000 and of United States Government securities, $?21,000,000. The decrease in holdings of United States Government securities reflects decreases of >323,000*000 in certificates, )112,000,000 in bills, :5U,000,000 in bonds, and ^32*000,000 in notes * Changes in member bank reserve balances and related items during the week and the year ended March 2, 19^9, were as follows: Increase or de crease since March 2, February 23 March 3, 9 1949 1949 19i46 — •*• n . - . (in millions of i dollars) U# S* Government securities £1,837 -521 * 766 Loans, discounts and advances - 62 - 29 Other Reserve Bank credit 34? +157 - 176 Total Reserve Bank credit 22,1422 -425 • 571 Gold stock 21*, 290 +1,254 Treasury currency 4.587 + 1 + 28 Member bank reserve balances 19.68U +21+3 +2,132 Money in circulation 27.557 + 6 - 1467 Treasury cash 1*320 ~ 6 - 1? Treasury deposits with F # .BU Banks 877 -714 - 77 Nonmember deposits and other F,R.,accountss l,86l • 47 • 277 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEKEFT OF COM)IT10S H.Ul(a) OF THE TWELVE FEDERAL RESERVE BAKKS COMBINED (in thousands of dollars) Increase or decrease since Mar. 2, Feb. 23, ir. 3, 19i|9 192+9 192+8 A S S E TS Gold certificates 22,1,28,1+32+ + 2 +1,287,261; Redemption fund for F. R. notes _ 6l6_,93l+_ - 25U .- 21,22k Total gold certificate reserves 23,07+^,368 2^2 +1,265,990 Other cash 357,785 + 2,535 111, 900 Discounts and advances 2U,700 - 61,357 - 15,961+ Industrial loans 765 3,91+3 15 U. S. Govt, securities: Bills 5,193,910 -112,000 -li, 077,001 Certificates 6,2428,769 -323,000 +2,121+, 2lth Notes 31+7,050 - 32,000 -l it27,550 # Bonds 9,867,727 - 3^035 +li, 11+6,557 Total U . S. Government securities 21,857,li56 -521,035 + 766,250 •""°"fc&l lo&^s and securities "22i"079792i" 7~7l£75Z73" Due from foreign banks is 1+6 F. Rv notes of other banks 120,505 - 2*, 92+1+ 301 Un -• oilected iterns 2,6-91,298 +750,639 - 69,1+75 3a--ik premises 32,179 56 660 Othsr assets 163,357 + 16,563 TOTAL ASSETS 1+8,L95,962 -21+0,360 +l,9i|.3,51J+ L I A BI LI T I ES Federal Reserve notes 23,523,323 3,638 - 510,5U5 Deposits : Member bank-reserve account 19,63l+,l+6s +21+3,608 +2,132,928 U.S.Treasurers-general account 876,727 -71^4,381 - 77,223 Foreign 750,317 + 51 + 172,01+5 Other l48_2,27j + 39,105 _+ 33*632 Total deposits 21,793,739 -i+31,617 +2,261,382 Deferred availability items 2,31+9,112 +193,069 + 105,757 Other liabilities including accrued dividends r__i»89_6 3, Up TOTAL LIABILITIES li7,678,131 -22+6,132 +1,853,131+ C A P I T AL A C C O U N TS Capital paid in 203,1(80 lU + 5,963 Surplus (Section 7) 1+66,711 + 18,522- Surplus (Section 13b) 27,ci+3 Other capital accounts 120,097 5,631 Qj&bz. TOTAL LIABILITIES AKD CAPITAL ACCCOTS LS,L:95,96"2 " -2£o7366"~*i,9h3,5$± Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 50 ,9% »9£ • + Contingent liability on acceptances purchased for foreign correspondents 3,705 197 - 1,231 Commitments to make industrial loans 1,631 12 - 6,321 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 MARCH 2, 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+28,1+51+ 796,500 7.332,052 1092,313 1585.237 1015.947 992,166 1+292,556 668,1+23 429,166 811,957 61+1,893 2770,1+21+ Redemption fund for F. R. notes 6l6,95l+ 53,257 51,803 58,891+ 7l+,535 5l+,123 1+3,675 105,296 l+l+,557 22,981+ 35,9l+i 26,1+1+5 1+5,61+8 Total gold certificate reserves 23,01+5,568 81+9,557 7,585,355 1151,207 1659,572 1070,070 1055,839 1+397,852 712,960 1+52,150 81+7,898 668,556 2816,072 other cash 557,735 59,l?9 63,675 22,970 55,110 22,905 21,511+ 51,359 16,982 15,089 11,61+2 ll+,098 l+l+,982 Discounts and advances 21+1,700 15,915 ©5,000 18,1+55 24,724 ll+,00i+ 9,1+21 50,085 10,087 6,881 18,51+7 7,lll+ 21,1+69 Industrial loans 765 705 60 -— U. S. Govt, securities; Bills 5,195,910 299,291+ 1,276,000 555,797 1+79,058 555,1+35 278,1+58 775,021 280,690 l68,ll+5 251,219 22l+,66i l+7l+,l5l+ Certificates 6,428,769 1+1+5,508 1,525,551+ l+57,9ll+ 592,953 1+12,708 5l+l+,665 959,282 31+7,1+23 208,119 510,91+6 278,076 569*61+1 ^otes 31+7,050 23,91+2 82,21+7 23,61+0 32,009 22,280 18,606 51,786 18,755 11,235 16,786 15,012 30,752 Bonds 9,367,727 680,755 2.538.553 672,171 910.109 635.1+78 529.039 1472.4^2 ^3.273 M9.hkl 477.283 li26.829 874.3^8 Total U.S.Government securities 21,837,1+56 ll+i+7,1+99 5,220,351+ 11+87,522 2014,039 1401,901 1170,768 3258,521 1180,11+1 706,91+1+ 1056,251+ 9l+l+,578 191+8,905 Total loans and securities 22,079,921 l463,4ll+ 5,285,554 1506,632 2058,813 1415,965 1180,189 3288,604 1190,228 713,825 1074*781 951,692 1970,574 Due from foreign banks 49 5 l/ 16 4 4 2 2 7 2 1 2 2 4 F.R^notes of other banks 120,505 5,806 15,452 5,490 5,551 50,458 15,046 15,245 6,255 5,712 4,671 4,856 14,025 Uncollected items 2,691,298 208,009 504,765 199,859 268,707 215,827 189,922 426,895 115Mk 66,117 145-,314 110,292 240,167 Bank premises 52,179 1,176 7,991 5,oi+2 4,840 2,542 1,562 5,178 1,933 1,172 2,568 749 1,626 other assets 168,857 11,628 59,408 11,107. 15,887 11,235 9,047 25,125 9,1+12 5,351 7,956 7,1+09 15,292 TOTAL ASSETS 1+8,495,962 2573,772 13,298,516 2898,341 4028,464 2768,984 2450,921 8206,745 2055,196 1257,417 2094,652 1757,434 5102,540 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.U.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 2,- I9I+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 SanFran, federal Reserve notes 23,523,825 158U,915 5,581,875 1629,550 2105,255 1589,619 1288,559 1+511,759 H09,592 618,655 925,239 601,755 2579,298 Depositss Member bank-reserve aoct, ig,68ii,I468 8l+l+,661+ 6,1+62,51+1+ 917,909 Hi58,221 8140,779 81+2,815 501+5,558 715,569 1+75,951+ 907,596 929,105 2250,578 U.S.Treasurer-general acct. 876,727 65,155 U+6,257 61,375 61+,280 50,706 68,068 75,296 58,978 66,699 65,669 68,157 90,129 Foreign 750,517 U6,973 1/ 2i+o,5l+l 59,6^8 68,595 56,551; 30,570 102,895 26,81+2 18,61+0 26,81+2 26,016 66,1+25 Other 1+82,277 2,996 399,961+ 1,811+ 5,692 3,61+5 6,21+6 i+,7&+ 7,1+22 1,396 5,^95 5,056 59,789 Total deposits 21,795,789 957,768 7,21+8,886 101+0,71+1+ 1596,788 951,661+ 91+7,697 322l+,29i 806,611 560,689 1005,1+00 1026,552 214+6,919 Deferred availability items 2,51+9,112 185,211 1+19,210 162,1+1+3 251,696 2ol+,l75 178,569 556,635 lcl+,701 55,61+0 132,000 98,1+29 202,605 Other liabilities including accrued dividends 11,1+07 670 2,811+ 668 1,1+25 652 50l+ 1,778 1+79 1+16 1+52 599 950 TOTAL LIABILITIES 1+7,678,151 2526,562 15,052,785 2855,1+05 5955,162 2726,108 21+15,109 809l+,l+65 2021,185 1255,580 2063,091 1727,115 5029,772 Capital paid in 203,1+80 11,1+81 69,61+8 H+,855 19,22o 8,887 8,033 25,819 6,71+7 l+,527 7,182 8,110 18,971 Surplus (Section 7) 1+66,711 29,51+7 li+5,019 36,701+ 1+5,968 22,1+17 20,028 68,81+2 17,971+ 11,797 17,008 H+,95i+ 1+0,653 Surplus (Section 15b) 27,51+3 5,011 7,319 l+,l+89 1,006 5,51+9 762 1,1+29 521 1,073 1,137 1,307 2,ll+C Other capital accounts 120,097 8,571 25,71+7 8,888 11,108 8,225 6,989 16,192 6,771 1+,61+Q 6,211+ 5,950 11,004 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+8,1+95,962 2578,772 13,298,516 2898,31+1 i+028,!+&+ 2768,981+ 21+50,921 8206,71+5 2053,196 1257,1+17 209!+,632 1757,1+31+ 5102,51+0 Contingent liability on acceptances purchased for foreign correspondents 3,705 233 2/ 1,171 296 51+1 182 152 511 155 95 155 130 330 Commitments to make industrial loans 1,631 30 113 952 137 281 21 — 97 F.R. notes outstanding 2l+,287,356 11+1+8,811+ 5,526,119 1683,932 2181+,572 1638,560 1339,890 1+612,851+ 111+8,611+ 63l+,562 91+7,791 651,211+ 21+90,811+ Collateral for F.R. notes held by F.R.Agents: Gold certificates 13,19k,000 1+00,000- 1+,670,000 550,000 71+5,000 625,000 575,000 261+0,000 315,000 210,000 280,000 18l+,000 2000,000 Eligible paper 1+9,925 5,000 10,053 l+,595 5,515 3,850 2,550 12,310 6,050 U.S.Govt, securities 12,100,000 1100,000 ,000,000 1200,000 1500,000 1050,000 850,000 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 21+1,700 131,790 l+,75l+ 3,71+8 101,1+28 Industrial loans 765 673 2 60 1+ 7 1? U.S.Govt, securities 21,837,1+56 1,512,522 1,188,110 11,,009911,,9911++22 11,,11++8855,,003366 3,518,952 2,928,1+97 51+7,0^ 1,861+, 063 7,901,301+ \J After deducting $509,910,000 participations of other Federal Reserve B&nks, 2/ After deducting $2,53l+,000 participations of other Federal Reserve Ranks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis