H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM HJ^a (For Immediate Release) May 12, 19k9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 11 member bank reserve balances decreased $909,000,000* Reductions in member bank reserves resulted from a decrease of $1,017,000,000 in Reserve Bank credit and an increase of $5,000,000 in money in circulation, offset in part by decreases of $77,000,000 in Treasury deposits with Federal Reserve Banks, $10,000,000 in Treasury cash, and $26,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on May 11 were estimated to be approximately $860,000,000 r Holdings of loans, discounts and advances decreased $278,000,000 and United States Government securities decreased $709,000,000. The decrease in holdings of United States Government securities reflects decreases of $1+27,000,000 in bills, $175,000,000 in certificates, $89,000,000 in bonds and $19,000,000 in notes. Changes in member bank reserve balances and related items during the week and the year ended May 11, 19U9 were as follows: Increase or decrease since May 11, May k> May 12, 191+9 191+9 19U8 (In millions of dollars) U» S« Government securities 20,130 -709 - 218 Loans, discounts and advances 203 -278 - it-8 Other Reserve Bank credit 225 - 32 • 21U Total Reserve Bank credit «. 20,559 -1,017 1+79 Gold stock 2^4,335 + 1 +1 ,110 Treasury currency hS92 — + 32 Member bank reserve balances 18,161+- -909 +1 ,077 Money in circulation 27 J452 + 5 - 310 Treasury cash 1.31U - 10 — 5 Treasury deposits with F. R. Banks 913 - 77 - 1+06 Nonmember deposits and other F. R. accounts 1,61+2 - 26 + 306 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION P.lwl(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 11, May h, May 12, 19U9 I9h9 191:8 A S S E TS Gold certificates 22,519,1+31 10,000 +1,177.261 Redemption fund for F. R. notes 603,176 •& - 19,638 Total gold certificate reserves 23,1227569 979^ +1,157,^23 Other cash 266,090 3,693 20,566 Discounts and advances 202,760 277,21*7 - hi, b23 Industrial loans 616 28 232 lT. S. Govt, securities: Bills h, 1455,736 1:26,750 -3,1|88,965 Certificates 6,731,379 17 h, 600 +2,565,636 Notes 361,600 18,500 -1,595,200 Bonds 3,581,200 89,1400 +2,299,980 Total U. S. Government securities 20,129,915 ' 709,250 - 2l8,5l;9 Total loans and securities 20~, 333,321 ~ 986,i).69 - 266,20i| Due from foreign banks k9 F. R. notes of other banks 101,li8li - 3,093 - It, 902 Uncollected items 2,1.!.18,323 + 93,972 - 396,083 Bank premises 32,Ui8 + h - 20I4 Other assets 1714,701 + 3,183 + 10,529 TOTAL ASSETS 146,1449,025 - 886,130 + 1+79,993 L I A B I L I T I ES Federal Reserve notes 23,329,961 - 2,182 - 3214,387 Deposits: Member bank-reserve account 18,163,972 - 908,777 +1,077,227 U.S. Treasurer-general account 912,717 - 77,1/77 - 1406,777 Foreign 500,113^ - 30,918 + 126,159 Other 516,982 + 2,961 + 99,08l4 Total deposits 20,091i,l06 -1,0124,211 895,693 Deferred availability items 2,193,103 + 125,275 - 182,i;5l4 Other liabilities including accrued dividends 12,399 - 219 Z. 3,9914 TOTAL LIABILITIES 245,629,569 - 891,337 + 3814,8 58 C A P I T AL A C C O U N TS Capital paid in 2014,386 19 6,331 Surplus (Section 7) 1466,711 18,522 Surplus (Section 13b) 27,5^3 Other capital accounts 120,816 ___5^,1_8_8 70,282 TOTAL LIABILITIES ID CAF1TAL ACCOUNTS Tl67n~9",025" 886,130 + 2479,993 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 53-2?5 1.29 1.99S Contingent liability on acceptances purchased for foreign correspondents 5,5I4O + 53 + 2,265 Commitments to make industrial loans 2,!t01 - 36 - li,215 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 MAY 11, 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 22,519,1+31 325,61+7 7,136,505 ll46» 1+88 1638,68!+ 1022,251 1031,136 i+260,605 695,o!+3 1+53,755 854,61+2 610,102 2846,740 Redemption fund for F. R. notes 603,178 52,583 47,954 57,582 75.240 51.529 42.842 104.142 Ii4.l48 22.8^0 ^.664 26.169 J,)|.9TQ Total gold certificate reserves 25,122,609 878,055 7,134,259 1203,870 1711,924 1073,780 1074,028 4364,750 737,191 476,565 890,306 636,271 2891,650 Other cash 266,090 27,388 57,04l 12,844 23,287 17,H4 21,600 38,766 12,722 7,069 8,888 10,303 29,068 Discounts and advances 202,760 15,750 63,117 15.048 21,407 16,188 10,274 23,811 5,817 4,387 7,139 4,965 14,857 Industrial loans 646 — —- 605 —- 4l —"~ ~~~ ~-~ -—— —- — —— U« S. Govt, securities: Bills 4,455,756 507,592 1,055,965 505,516 410,957 286,045 238,885 664,872 240,797 li+4,245 215,515 192,735 594,814 Certificates 6,751,579 464,585 1,595,270 458,529 620,841 452,134 560,890 1004,455 563,777 217,916 325,584 291,165 596,453 Notes 361,600 24,946 85,695 24,631 33,551 25,214 19,536 55,957 19,542 11.706 17,490 15,641 52,0i+l Bonds 8,581,200 592,000 2,033,659 584,534 791,453 550,887 460,064 1280,461 465,745 277,799 415,055 571,180 760,365 Total U.S.Government securities 20,129,915 1538,725 4,770,589 1571,210 1356,602 1292,280 1079,225 3003,725 1087,861 651,666 973,644 370,719 1783,671 Total loans and securities 20,333,321 i4o4,473 4,835,706 1586,865 1878,009 1508,509 1089,499 5027,556 1095,678 656,055 980,785 875,684 1798,523 Due from foreign banks 49 5 l / l6 4 4 2 2 7 2 1 2 2 4 F.R-notes of other banks 101,484 5,645 15,855 5,424 5,729 20,792 10,157 12,165 6,977 2,458 4,809 4,856 12.659 Uncollected items 2,4l3,323 187,999 459,825 165,902 215,225 209,758 176,106 585,595 114,554 67,108 li+4,640 111,860 20l+,l75 Bank premises 52,448 l,l66 8,004 5,051 4,811 2,528 1,552 5.185 1,926 1,167 2,557 745 1,980 Other assets 174,701 12,040 4l,092 11,610 16,156 11,207 9,548 26,222 10,020 5,586 8,275 7.1+75 15,672 TOTAL ASSETS 46,449,025 2514,747 12,577,758 2785,548 3853,145 2645,690 2382,292 7858,024 1976,850 1216,007 2040,058 1647,174 4953,754 l/ After deducting $33,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l+.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 11, 19^9 (In thousands of dollar*) L I A B I L IT I BS Total B ston New York Phila. Cleve, Rich, Atlanta Chicago St.Louis Minn, Kans.Cy, Dallas SanFran. 0 Federal Reserve notes 23,329,961 1381,214; 5,310,69)4. 1612,562 2093,525 1550,617 1290,503 1+1*96,912 1G88,956 615,1+98 916,080 5914,082 2379,288 Deposits: / Member barik-reterve fecct, 18,163,972 790, 1+31 5,865,91+2 863,598 1325,1^6 775,31+3 805,756 2722^92 670,621 l+5l+,369 863,193 850,315 2176,736 U.S.Treasurer-general facet, 912,717 80,868 156,JU18 57,395 107,91+2 52,321 57,058 120,8614 52,667 li9>936 65,708 17,136 61+,l+ol+ Foreign 500,1+35 31,179 1/ 161,899 39,592 1+5,531 2)4,250 20,291 68,296 17,816 12,373 17,816 17,322 1414,070 Other 516,982 2,376 l+l+5>525 1,898 7,221+ i+,202 613 1,91*0 5,230 1,651 11,013 512 31,768 Total deposits 20,0914,106 9930ll++,,8855ll++ 6,629,7814 962,1483 11485,8143 856,116 883,718 2913,592 71+6,331+ 518,329 957,730 915,3U5 2319,978 Deferred availability items 2,193,103 175,1+92 388,096 Il+1+,718 197,200 193,3U7 171,659 333, H+3 108,9^0 59,729 131*, 102 106,809 179*868 Other liabilities including accrued dividends 12,399 750 3,31+7 753 1,159 686 561 1,986 503 375 553 1+70 1,256 TOTAL LIABILITIES 145,629,569 21+62,3I1O 12,331,921 2720,516 3777,727 2600,766 231+6,^1+1 77ii5,633 l9l+l+,733 1193,931 2008,1465 1616,706 14880,390 Capital paid in 20l+,386 11,1467 69,687 114,871+ 19,2214 8,915 8,055 25,81+2 6,763 14,538 7,191 8,182 19,6148 Surplus (Section 7) [466,711 29*31+7 11+3,019 36,701+ 1+3,968 22,U17 20,028 68,81+2 17,971+ 11.797 17,008 ll+,95l4 1+0,653 Surplus (Section 13b) 2?, 51+3 3,on 7,319 l+,l+89 1,006 3.31+9 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other capital accounts 120,816 8,582 25,812 8,965 11,218 8,2143 7,006 16,278 6,859 ! 4 ,66e 6,257 6,025 10,903 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+6,141+9,025 25l2+,7li7 12,577,758 2785,51+8 3853,1^3 26143,690 2382,292 7858,0214 1976,850 1216,007 201+0,058 161+7,171+ 1+953,^3*+ contingent liability on acceptances purchased for foreign correspondents 5*51+0 3149 £/ 1,751 1+1+3 510 271 22? 765 199 139 199 191+ 1+93 Commitments to make industrial loans 2,1+01 60 100 1,801* 106 235 87 F,R, notes outstanding 21+, 01+2,2 51+ t*-> — j.uu J.,OUU iuo <;np y — —** —- <J / Collateral for F.R. notes 11+36,561+ 5*l+66,692i655,29l+2l68,982l605,805 1339,l+65l4580,23lll2i4,032 629,636 91+1,298 619,865 2l+7l+,393 held by F.R.Agentsj Gold certificates 13,199,000 1^0,000 14,670,000 550,000 71+5,000 625,000 575,000 2605,000 315,000 210,000 280,000 18l+,000 2000,000 Eligible paper ^ 8 6 i| 7,215 20,207 14,210 — 9,250 — — 9I4O 1,000 2,262 2,800 u.o,«jovt, securities 12,075,000 1100,000 i„ooo,ooo 1200,000 1500,000 1025,000 850,000 2000,000 950,000 1450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS 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 yea-*~s Discounts and advances 202,760 159,189 32,118 6,0b 5,392 13 5 Industrial loans 6I46 575 h 1+1+ 7 16 U.S.Govt, securities 20,129,015 1,380,536 1,800,836 l+,306,01l4 553388,,772299 1,589,700 2,015,200 1,903,600 6,595,300 1/ After deducting $338.. 5H,000 participations of other Federal Reserve Banks, 2/ After deducting: $3,789,000 Darticinations of other JPetieral Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis