H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.X (For Immediate Release) June 23, 19U9 CONDITION OP TPIE FEDERAL RESERVE BAMS During the week ended June 22 member bank reserve balances decreased $292,000,000*. Reductions in member bank reserves resulted from increases of $14.99,000,000 in Treasury deposits with Federal Reserve Banks and $1^,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $2,000,000 in gold stock, offset in part by increases of $202,000,000 in Reserve Bank credit and decreases of $1^6,000,000 in money in circulation and $5,000,000 in Treasury cash*, Excess reserves of member banks on June 22 were estimated to be approximately $970,000,000* Holdings of loans, discounts and advances increased $531*000,000, principally in the New York District* Holdings of United States Government securities declined $295,000,000, reflecting decreases of $205,000,000 in certificates and $118,000,000 in bonds and an increase of $23,000,000 in bills. The decrease in certificates was due to the redemption of the $220,000,000 special series certificate held by the Federal Reserve Banks on June 15• Changes in member bank reserve balances and related items during the week and the year year ended June 22* 19k9 were as follows: Increase or decrease since June 22, June 15, June 23, 1949 __i?49 19L8 (In millions of dollars ) U* S* Government securities 19,166 -295 -1,81+U Loans, discounts and advances 671 +531 + 316 Other Reserve Bank credit 276 - 34 - 80 Total Reserve Bank credit 20,113 +202 -1,608 Gold stock 2^,1+21 - 2 + 898 Treasury currency 4,596 + 35 Member bank reserve balances 18,314 -292 + 906 Money in circulation 27,345 - 46 - 447 Treasury cash 1,304 - 5 - 13 Treasury deposits with F, R# Banks 508 +499 -l ,355 Nonmember deposits and other P. R* accounts 1,658 + 44 + 233 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H. 4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since June 22, June 15, June 23, 19^9 19^9 19^8 A S S E TS Gold certificates 22,617^30 + 1 + 99l+,26o Redemption fund for F. R. notes 587,722 - 2,781 30,500 Total gold certificate reserves 2372057152" - 2,780 + 9b3,7fcO Other cash 287,162 + 16,362 + 214,323 Discounts and advances 670,875 +531,618 + 3S6,8! 3 4 Industrial loans 1+66 h9 1,1+02 U. S. Govt, securities: Bills 1+, 032,129 + 27,686 -i+, 208,502 Certificates 6,81*2,100 -20i<,500 +2,1+1+5,093 Notes 359,100 — -1,575,700 BBoonnddss 7,932,300 -118,200 +1,755.511+ TToottaall UU.. SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess 19,165,629 -295,011; -1,583,595 Total loans and securities 19.856,970 +23S7555 -1,208,151+ Due from foreign banks 1+9 — — F. R. notes of other banks 111,767 + 1,085 8,3l+3 Uncollected items 2,703,790 -321,71+1 - 71+6,851+ Bank premises 32,629 5 + 61+ Other assets 111155..^^3333 771177 21,282 TOTAL ASSETS 11++66,,229922,,995522 -- 7711,,2211++11 - 996,1+86 L I A B I L I T I ES Federal Reserve notes 23,236,950 - 33.886 - 1+51*882 Deposits: Member bank-reserve account 18, 3114* 369 -291,592 + 315,51+8 U.S.Treasurer-general account 5^6,263 +1499,505 - 1+7 5,538 Foreign iff 6,755 + 8,751 + 119,757 Other l 66,02i , + 27,995 - 55,91+2 4 Total deposits 19,765,1+08' +21^,659 - 96,175 Deferred availability items 2,1+27,582 -287,892 - 51+9,378 Other liabilities including accrued dividends 11+.772 + ,, 579 3,1+80 TOTAL LIABILITIES 1+5,1+1+1+, 712 :r76,5l+0 -1,100,915 C A P I T AL A C C O U N TS Capital paid in 20li,936 3l+8 + 6,577 Surplus (Section 7) 1466,711 — + 18,522 Surplus (Section 13b) 27,5^3 — -- Other capital accounts ll+9,Q5Q ±JAM2SL + 79,330. TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1+6,292,952 - 71,21+1 - 996,1+86 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 5l+»°/£ *2f 2.% 0 Contingent liability on acceptances purchased for foreign correspondents 5,153 317 + 2,180 Commitments to make industrial loans 2,311 3 1+,313 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 22, 1949 (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 22,617,430 825,983 7,186,524 1175,397 1639,171 1022,009 1001,540 4412,692 657,945 427,066 805,550 655,2052850,750 Redemption fund for F. R. notes 587,722 51,725 50,l42 56,285 72,462 51,016 42,202 91,304 43,919 22,719 35,511 25,992 44,445 Total gold certificate reserves 23,205,152 877,708 7,256,466 1251,682 1711,655 1075,025 1045,542 4505,996 701,862 449,785 841,061 659,197 2875,195 Other cash 287,162 25,467 59,821 14,525 28,757 19,508 22,040 41,976 15,65 7 6,500 10,617 12,525 52,191 Discounts and advances 670,875 12,923 447,547 9,9l6 22,085 24,589 12,155 77,753 17,592 11,090 16,077 3,579 15,569 Industrial loans 466 439 27 U. S. Govt, securities: Bills 4,032,129 278,168 955,574 274,661 371,887 258,851 216,175 601,662 217,904 130,532 195,026 174,410 357,279 Certificates 6,842,100 472,022 1,621,510 466,070 651,054 459,242 566,826 1020,958 569,761 221,500 550,958 295,954 606,265 Notes 559,100 24,774 85,105 24,461 53,120 23,053 19,252 53,584 19,407 11,625 17,369 15,533 31,819 Bonds 7,952,300 547,254 1,879,876 540,532 731,604 509,250 425,274 1135,654 428,677 256,792 585,670 545,112 702,865 Total U.S.Government securities 19,165,629 1522,198 4,542,065 1505,524 1767,665 1250,576 1027,527 2859,858 1055,749 620,449 927,005 829,009 1698,228 Total loans and securities 19,856,970 1535,121 4,989,610 1515,879 1789,750 1254,992 1059,682 2957,591 1053,341 631,559 943,080 832,588 1713,797 Due from foreign banks 49 3 l / l6 4 4 2 2 7 2 1 2 2 4 F.Raiotes of other banks 111,767 6,188 15",559 6,195 6,4l4 16,578 11,012 14,805 7,241 4,485 6,929 4,504 15,881 Uncollected items 2,705,790 216,409 465,557 180,027 278,518 259,249 179,279 581,450 158,608 78,778 145,156 150,307 272,652 3ank premises 32,629 l,l62 8,000 5,020 4,792 2,520 1,547 5,182 1,922 1,164 2,551 74 0 2,229 other assets 115»^33 8,545 26,511 7,407 10,784 7,380 6,228 17,580 7,002 5,588 5,429 4.995 9,986 TOTAL ASSETS 46,292,952 2470,605 12,797,520 2758,537 3850,452 2615,054 2505,532 7900,587 1925,655 1175,858 1954,625 1644,854 4919,935 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.U.l(o) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 22, I9U9 (In thousands of dollars) L I A BI L IT I BS Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cy, Dallas SanFran. Federal Reserve notes 23,236,950 1379,801 5,3il+,2i5 1615,681+ 2078,59!+ 151+1,1+21+ 1275,003 l+U70,7l+6 1073,700 607,850 908,680 59l+,22? 2377,026 Depositss Member bank«=reserve acct. 18,3H+,369 770,079 6,151,1+62 863,395 1312,972 751,516 767,511+ 2801,855 61*6,939 1+38,561+ 833,299 81+6,302 2130,1+72 U.S.Treasurer-general acct, 508,263 27,629 109,293 19,1+55 56,601+ 38,1+52 19,316 103,1+99 17,317 20,21+2 30,323 32,207 33,926 Foreign 1+76,755 29,799 1/153,201 37,81+0 1+3,516 23,177 19,395 65,271+ 17,028 11,825 17,028 16,555 1+2,119 Other 1+66,021 3,338 !+ol+,03l 1,558 l+,l+85 1,889 862 5,825 6,261 2,010 5,365 1+67 55,950 Total deposits 19,765,1+08 830,81+5 6,817,987 922,228 11+17,577 815,051+ 807,085 297lt,k53 667,51+5 1+72,61+1 88+4,015 895,551 221+0,1*67 Deferred availability items 2,1+27,582 20^688 1+08,566 152,728 25l+,609 211,021; 185,155 556,521+ 128,196 71,777 128,598 122,711 225,228 Other liabilities including accrued dividends lit,772 928 5,897 81+7 1,615 771+ 685 2,255 612 589 681 651 1,21+0 TOTAL LIABILITIES U5,i+1+1+,712 21+16,262 12,51+U,665 2691,1+87 5752,595 2568,256 2265,901+ 7783,978 1890,053 1152,857 1921,771+ 1615,120 1+81+5,961 Capital paid in 20!+,956 11,1+95 69,972 H+,892 19,255 8,967 8,078 25,865 6,775 l+,5l+5 7,211 8,225 19,688 Surplus (Section 7) 1+66,711 29,5147 l!i5,Ol9 56,701+ 1+5,968 22,1+17 20,028 68,81+2 17,971+ 11,797 17,008 ll+,95l+ 1+0,655 Surplus (Section 13b) 27,51+3 3,011 7,319 l+,l+89 1,006 3,51+9 762 1,1+29 521 1,075 1,157 1,507 2,1*40 Other capital accounts li+9,050 10,1+90 52,51+5 10,965 15,850 10,065 8,560 20,1+75 8,311+ 5*568 7,1+95 7,250 13,1+95 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 146,292,952 21+70,605 12,797,520 2758,537 3850,1+52 2615,05!+ 2505,552 7900,587 1925,655 1175,858 195l+,625 l6i+l+,85l+ 1+919,935 Contingent liability on acceptances purchased for foreign correspondents 5,153 318 2/ 1,697 1+01+ 1+65 21+8 207 697 182 126 182 177 1+50 Commitments to make industrial loans 2,311 6 0 — 127 1,788 15 229 9 — — — — 85 w F.R. notes outstanding 2l+,021,630 H+51+,791 5,1+90,71+1+ l661+,085 21148,125 1596,991 1327,378 1+555,027 1112,566 ££3,280 952,719 626,51+5 2509,781 Collateral for F.R, notes held by F.R. Agents: Gold certificates 15,55i+,000 1+1+0,000 h, 570,000 550,000 900,000 625,000 575,000 2805,000 515,000 210,000 280,000 18l+,000 2100,000 Eligible paper £91,1+26 7,215 1+18,917 2,668 — 19,150 — — lli,550 8,825 12,815 — 7,506 U.S.Govt, securities 11,625,000 1100,000 1,000,000 1200,000 1500,000 1025,000 850,§00 1800,000 900,000 1450,000 700,000 500,000 800,000 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 670~8775 5717612" 2,289 5*709 87,772 W 5 Industrial loans 1+66 I+09 5 27 1+ 7 16 U.S. Govt, securities 19,165,629 5,71+6,677 570,251 782,155 1,785,01+6 1,60+4,200 2,987,000 2,098,1+00 5,591,900 l/ After deducting $525,552,000 participations of other Federal Reserve Banks. 2/ After deducting $5,1+56,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis