H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF W7RRIJORS OF THE FEDERAL RESERVE SYSTEM E.h.l (For Immediate Release) March 17, 19^9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March l6 member bank reserve balances increased $512,000,000. Additions to member bank reserves resulted from increases of $3ll5 fOOO ,000 in Reserve Bank credit and 510,000,000 in gold stock and decreases of $120,000,000 in Treasury deposits with Federal Reserve Banks and $77,000,000 in money in circulation, offset in part by increases of $li,0u0,000 in Treasury cash and 536>000,000 in nonraember deposits and other Federal Reserve accounts, PJxcess reserves of member banks on March 16 v/ere estimated to be approximately $1,030,000,000. Holdings of loans, discounts and advances increased $226,000,000 while holdings of United States Government securities decreased $29,000,000. The de crease in holdings of United States Government securities reflects a decrease of $114.9,000,000 in bonds and increases of $70,000,000 in bills and $50,000,000 in certificates. Increase or decrease since •oh 16, i.rch 9j March 17, 19ii9 19i+9 19i4-8 (In millions of dollars) U# S* Government securities 21,5C0 - 29 +1,127 Loans, discounts and advances 130 +226 + 63 Other Reserve Bank credit Uid +U3 - 29 Total Reserve Bank credit 22,5k3 +3^5 +I,l6l Gold stock 2li,305 + 10 +1,186 Treasury currency 1,568 + 1 + 29 Member bank reserve balances IS,?5o +512 +2,585 Money in circulation 27,500 - 77 - ix20 Treasury cash 1 ,32^4 + h 1 Treasury deposits with F« R« Banks 591 -120 - 86 Nonmember deposits and other F. R» accounts 1,390 + 36 + 298 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED EL-U.l(a) (in thousands of dollars) Increase or decrease since Mar, 16, Mar, 9, Mar* 17, 191+9 191+9 191+8 A S S E TS Gold certificates "* 22,1^3,1+29 + 10,001 +1,219,259 Redemption fund for F, R. notes 612 till J: 1 22,< Total gold certificate reserves 23,057,202 + 10,000" +1,196", 561 Other cash 31+3,71+5 3,259 - 20,562 Discounts and advances a29,U86 + 226,525 + 66,181+ Industrial loans 752 3 2,850 U. S, Govt, securities: Bills 5,087,353 + 69,850 -3,579,01+8 Certificates 6,1*83,769 + 50,000 +2,l9l.,ol+l+ Notes 31+1,050 -1,1+33,050 Bonds 9,587,700 11+9,077 •••3,91+1+, 997 Total U. S. Government securities 21,199,872 - 29,227 +1,126,91+3 Total loans and securities 21,930,110 + 197,295 +1,190,277 Due from foreign banks U9 1+6 F. R. notes of other banks 117,1+70 1,911 i+,328 Uncollected items 3,277,607 + 880,871 - 159,191+ Bank premises 32,180 3 656 Other assets 11+9,382 22,881 + 17,761 TOTAL ASSETS 1+8,907,71+5 +1,060,112 +2,219,813 L I A BI LI T I ES Federal Reserve notes 23,1+1+9,297 - 78,1+17 - i+61+,990 Deposits s Member bank-reserve account 19,936,083 512,31+0 +2,585,1+01+ U.S.Treasurer-general account 591,1+71 119,352 - 85,792 Foreign 739.789 5,155 + 2lh,h36 Other 1+87,1+1+3 _9,827 + 6.325 Total deposits 21.75U.766 + 397,6~6"6 +2,720,371 Deferred availability items 2,859,657 + 733,111+ - 129,928 Other liabilities including accrued dividends 12,668 + 883366 1,882 TOTAL LIABILITIES 18707^08 "+1,053.193" +2,123,571 C A P I T AL A C C O U N TS Capital paid in 20li,229 689 + 6,529 Surplus (Section 7) 1+66,711 + 18,522 Surplus (Section 1%) 27,51+3 Other capital accounts 132,851+ 6,23Q 71,191 TOTAL LI ABILITIES AND CAPITAL ACCOUNTS ii8,907,7l+5~ +1,060,112" +2,219,813 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 51.C0& .1% Contingent liability on acceptances purchased for foreign correspondents l+,l+86 + 852 62 Commitments to make industrial loans 2,650 + 38 1+.913 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 l6, 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+1+5,1+29 750,751+ 7,1+56,1+88 1107,01+11550,755 1000,867 995,881+1+51+8,105 61+6,509 1+01,555 800,1+56 618,1+26 2786,853 Redemption fund for F. R. notes 615,775 55,090 51,100 58,627 7l+,ll+0 55,029 1+5,502 105,091+ U+,1+61 22,951 35,876 26,591 1+5,512 Total gold certificate reserves 25,057,202 303,821+ 7,507,588 1165,668 l6oi+,893 1055,896 1039,336 1+1+53,199 690,770 l+2l+,l+8l+ 836,512 61+l+,817 2852,565 other cash 5!i5,7!+5 57,ll+l+ 61,769 25,910 52,659 20,175 2l,5i+l 50,059 15,580 ll,!+ol+ 11,81+1+ 12,750 1+5,152 Discounts and advances 1+29,1+36 15,551 21+1,010 18,1+95 51,959 15,218 6,550 50,776 11,672 l+,525 16,262 6,270 15,1+18 Industrial loans 752 707 1+5 *— U. S. Govt, securities: Bills 5,037,555 351,363 1,206,088 3^6,558 1+69,210 ^26,59!+ 272,71+5 759,121 2?l+,952 l61+,69l+ 2l+6,o66 220,052 1+69,1+50 certificates 6,1+85,769 1+^7,505 1,556,589 i+l+1,661 598,005 J+16,258 5l+7,6ll+ 967,1+88 350,396 209,898 315,607 280,1+56 57l+,5ll+ Notes 5U,050 25,523 80,825 23,252 51^+55 21,391+ 18,235 50,891 18,1+51 11,Ola 16,1+96 ll+,752 50,220 Bonds 9,587,700 661,1+56 2,272,189 655,095 881+,285 615,502 5ll+,025 11+50,61+8 518,158 510,585 1+65,738 l+ll+,7i6 81+9,5l+7 Total U.S.Government securities 21,1+99,372 ll+61+,i30 5,095,691 ll+61+,526 1982,955 1580,223 1152,669 5208,11+8 1161,897 696,016 1059,907 929,976 1923,731 Total loans and seTurTtTes 21,930,110 11+77,681 5,356,701 11+33,728 20ll+,892 1395,1+91 1159,219 5258,92!+ 1175*569 700,51+1 1056,169 956,21+6 1939,11+9 Due from foreign banks k9 3 l / l6 1+ 1+ 2 2 7 2 1 2 2 1+ F.R.notes of other banks 117,1+70 l+,63l lH,088 1+.159 5,798 26,755 15,528 15,00!+. 6,920 l+,52i+ 5,720 5,517 15,178 Uncollected items 3,277,607 21+0,692 652,627 232,159 355,655 278,182 220,500 506,619 l!+5,ol+9 7l+,555 155,651+ 139,919 298,220 Bank premises 32,180 1,176 7,997 5,ol+2 l+,855 2,51+2 1,562 5,178 1,933 1,172 2,368 7l+9 1,626 uther assets ll+9,582 10,61+6 55,195 9,711 15,671+ 9,609 7,995 22,52!+ 8,32l+ l+,70l+ 7,025 6,560 13,615 TOTAL ASSETS 1+8,907,71+5 2575,81+7 15,615,981 2922,381 1+012,1+08 2781+,61+S 21+63,355 8507,1+9!+ 201+0,11+7 1220,985 2075,071+ 171+6,11+0 511+5,509 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(o) STATEMENT OF CONDITION OF THE-FEDERAL" RESERVE BANKS ON MARCH 16, I949 (In thousands of dollars) L I A B I L I T I ES T ota 1 Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes ^3»kh9t^9l 1381,599 5,558,862 1621*,790 2100,208 1580,900 1289,ia5 4501,050 1104,2)44 618,385 921,734 595,972 2372,088 Deposits: Member bank-reserve acct. 19,936,083 8148,083 6,55*1,^92 9^6,671+ Ii0t5»876 8)45,165 866,3^2 3085,217 725,951 479.21*2 926,657 959.039 2293,367 U S,Treasurer-general acct. 591,471 214,803 307,749 25,U67 12,755 214,276 23,1402 75,159 15,066 15,051 15,955 19,499 56,511 a Foreign 739,789 146,1221/239,017 58.S68 67,355 55,875 50,016 101,050 26,356 18,303 26,356 25,62l4 65,171 Other 487,445 2,306 1418,505 1,58a 5,820 14,198 675 5,665 5,004 1,460 5,1450 520 56,1476 Total deposits 21, 75I4,786 921,3114 7,499.763 1032,093 1551,784 909.510 920,455 5267,071 770,357 514,056 972,396 984,682 21431,325 Deferred availability items 2,859,657 219,038 505,101 198,989 502,56)4 21*9,874 216,457 423,056 132,317 65,700 1)48,2140 134,050 264,271 Other liabilities including accrued dividends 12,668 768 5,515 679 1.545 66I4 552 2,189 499 590 478 525 1,086 TOTAL LIABILITIES 48,076,408 2522,719 13,567,2141 2856,551 5955,901 27140,948 2^26,859 8195,566 2007JU7 1198,551 2042,898 1715,227 5068,770 Capital paid in 204,229 11,498 69,667 114,868 19,240 8,906 8,Ola 25,816 6,754 4,528 7,185 8,115 19.615 Surplus (Section 7) 466,711 29,5147 145,019 56,70l4 45,968 22,1417 20,028 68,842 17,974 11,797 17,008 1)4,954 40,655 Surplus (Section 13b) 2?,5li3 5,011 7,319 4,489 1,006 5,5l9 762 IJ429 521 1,075 1,157 1,507 2,11*0 Other capital accounts 152,854 q.272 28.755 9.76Q 12,2Q3 3.028 7,663 18,Ola 7,481 5,054 6,848 6_, 537 12,135 TOTAL LIABILITIES AND CAPITAL ACCOUNTS i|8,907,745 2575,847 15,615,981 2922,38! 4012,1*08 2784,6)48 2)463,555 8307,494 2040,1)47 1220,983 2075,074 171*6, lUo 5143,509 Contingent liability on acceptances purchased for foreign correspondents 4,486 283 2/ i,Ui8 559 U15 220 184 619 161 112 161 157 599 Commitments to make industrial 1 oans 2,650 8011 — 110 1,9)45 151 281 9 — — — — 95 F.R. notes outstanding 214,212,597 11459,218 5,518,548 1675,890 217U,950 1632,107 1345,223 4592,263 1141,215 65k,28l4 945,428 628,196 21485,277 Collateral for F.R. notes held by F.R.Agents: Gold certificates 13,2014,000 440,000 4,670,000 550,000 745,000 625,000 575,000 2610,000 315,000 210,000 280,000 1814,000 2000,000 Eligible paper 228,213 5,975 192,728 6,355 — 5,770 6,200 525 10,790 — 1,890 U.S.Govt, securities 12,100,000 1100,000 1,000,000 1200,000 1500,000 1050,000 850,000 2000,000 950,000 450,000 700,000 500,000 800,000 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 420,1486 271,880 6,288" 9,270 111 2,0)48 Industrial loans r->r-f> 675 2 ""49 15 U.o.Govt. securities 21,1499,872 1,659,789 605,071 1,262,92.9 2,1458,257 2,725,879 -,983,ii97 ,51*1,050 1,936,600 7,5^8,800 l/ After deducting $500,756>°00 participations of other Federal Reserve Banks. 2j After deducting $3,068,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis