H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.I+,1 (For Immediate Release) July 7, 19^9 CONDITION OF THE FEDERAL RESERVE BAMS During the week ended July 6, reserve requirements were reduced approximately $800,000,000* Member bank reserve balances decreased $33,000,000 and estimated excess reserves increased from $6i|0,000,000 on June 29 to $1,1410,000,000 on July 6- Reductions in member bank reserves resulted from an increase of 5233,000,000 in money in circulation and a decrease of 196,000,000 in Reserve Bank credit, offset in part by decreases of $235,000,000 in Treasury deposits with Federal Reserve Banks, $39,000,000 in nonmember deposits and other Federal Reserve accounts, and $18,000,000 in Treasury cash, and an increase of 15,000,000 in gold stock. Total loans and securities decreased $210,000,000, reflecting a decrease of $37 3 000,000 in loans, discounts and advances and a decrease of &L71+,000,000 in holdings of United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended July 6, Y)hQ were as follows: Increase or decrease since July 6, June 29, July 7, 19U9 19^9 19U8 (in millions of dollars) U. S. Government securities 19,31+3 -17ii -2,192 Loans, discounts and advances 111, - 37 - 285 Other Reserve Bank credit 321 +113 + 12 Total Reserve Bank credit 19,779 - 96 -2,1461+ G-id stock 2h,lijl + 5 + 887 Treasury currency U, 597 — + 35 bomber bank reserve balances 17,980 - 33 + 396 ?-,T r;ey in circulation 27,659 -233 - L£3 :\rvury cash 1,306 - 18 28 •ury deposits with F. R* Banks o -Vp -235 -1,579 ^..icmoor deposits and other F 0 R» accounts 1,639 - 39 + 150 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.i+.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 6 June 29, July 7, t 1949 1949 1948 A S S E TS Gold certificates 22,666,429 + 15,000 + 974,257 Redemption fund for F. R. notes 588,^71 251 - 27,172 Total gold certificate reserves 23,25k,900 + 14,749 + 947,085 Other cash 253*877 - 27,714 + 29,577 Discounts and advances 113,711 - 36,604 - 283,959 Industrial loans k96 + 22 348 U. S. Govt, securities: Bills 4,346,460 -173.669 -4,142,121 Certificates 6,857,100 — +1,978,193 Notes 359,100 — -1,598,700 Bonds 7,780,200 — +1,570,319 Total U, S. Government securities 19,31+2,860 -173,669 -2,192,309 Total loans and securities 19,457,067 -210,251 -2,476,616 Due from foreign banks 49 -- _- F. R. notes of other banks 91,261 - 17,541 8,170 Uncollected items 2,294,329 - 36,610 - 142,015 Bank premises 32,628 + 33 + 137 Other assets 95,008 -- 2233,,550044 - :?.9*836 TOTAL ASSETS 45,479,119 --330000,,883388 -1,679,838 L I A B I L I T I ES Federal Reserve notes 23,497,568 +180,157 - 462,475 Deposits; Member bank-reserve account 17,980,117 - 32,788 + 395,790 U.S. Treasurer-general account 262,101 -235,008 -1,579,038 Foreign 484,748 - 22,405 + 44,102 Other 413,148 - 38,223 - 23,461 Total deposits 19,140,114 -328,424 -1,162,607 Deferred availability items 1,972,884 -150,262 - 154,102 Other liabilities including accrued dividends 9,966 - 7,104 3,527 TOTAL LIABILITIES 44,620,532 -305,633 -1,732,711 C A P I T AL A C C O U N TS Capital paid in 205,690 706 + 6,913 Surplus (Section 7) 466,711 .. + 18,522 Surplus (Section 13b) 27,543 «»•» -- Other capital accounts 158,643 + 4,089 + 77,438 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,479,119 +300,838 -1,679,838 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 5h*5% Contingent liability on acceptances purchased for foreign correspondents 3#956 1,219 + 1,311 Coinmitments to make industrial loans 2,257 26 - hA75 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 JULY 6, 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 22,666,429 828,276 7,524,872 1137,735 1562,056 994,154 978,016 4413,992 662,364 428,289 808,180 583,280 2745,215 Redemption fund for F. R. notes 588,471 51.719 50,052 57,264 72,1J45 50,997 42,188 9^,272 43,912 22,712 55,504 25,986 44,420 Total gold certificate reserves 23,254,900 879,995 7,574.924 1194,999 1634,501 1045,151 1020,204 4505,264 706,276 451,001 843,684 609,266 2789,635 Other cash 253,877 22,244 50,029 10,994 28,813 15,873 18,600 38,135 12,806 6,439 10,025 11,119 28,800 Discounts and advances 113,711 6,680 34,512 8,8l8 9,840 8,242 4,697 12,738 6,5?2 2,1+03 5,322 3,491 10,396 Industrial loans 496 — — 469 — 27 U, S. Govt, securities! Bills 4,31+6,460 299,853 1,030,067 296,072 400,878 279,030 233,027 648,566 234,892 140,708 210,230 188,006 385,131 Certificates 6.857,100 473,058 1,625,065 467,092 632,437 1+1+0,205 367,631 1023,196 370,570 221,985 331,664 296,603 607,594 Notes 359,100 24,774 85,103 24,461 33,120 23,053 19,252 53,584 19,40? 11,625 17,369 15,533 31,819 Bonds 7,780,200 536,740 1,843,829 529,972 717,576 499,466 417,119 1160,938 420,458 251,868 376,313 356,553 689,388 Total U.S.Government securities 19,342,860 1554,425 4,584,o64 1517,597 1784,011 1241,754 1057,029 2886,284 1045,527 626,186 955,576 856,675 1715,952 Total loans and securities 19,457,067 1341,105 4,6l8,576. 1326,884 1795,851 1250,025 1041,726 2899,022 1051,899 628,589 940,898 840.166 1724,528 Due from foreign banks 49 5 l / l6 4 4 2 2 7 2 1 2 2 4 F.R.notes of other banks 91,261 5,324 8 ,U+9 3,512 5,995 14,986 9,051 15,258 5,890 5,602 6,682 5,455 15,259 Uncollected items 2,294,329 207,467 455,180 166,432 192,789 188,524 145,262 550,985 125,671 6i+,097 122,085 102,408 195,429 Bank premises 52,628 1,157 7,982 5,020 4,785 2,515 1,545 5,176 1,919 l,l6l 2,545 756 2,291 Other assets 95,008 6,787 21,979 6,119 9,455 5,959 5,051 J4»23_2__ 5,992 2,957 hj£2__ i±,015. 8,i4-l : TOTAL ASSETS 45,479,119 2462,082 12,757,135 2711,764 3670,167 2523,011 2241,421 7804,079 1910,455 1157,827 1930*124 1571,167 4759,887 l/ After deducting $35,000 participations of other Federal Rosorvo Bnn.lcR. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B,h,l[C) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 6, I9I+9 (In thousands of dollars) A B I L I T I ES Total Boston Nt-.w York Fnila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 23,1+97,568 11+11,976 5,390,587 1628,1+61 209I+, 173 1551,893 1287,291 1+507,893 1080,799 612,187 920,095 6ol+,538 21+07,625 Deposits: Member bank-reserve acct. 17,980,117 760,223 6,152,087 817,896 1266,152 719,754 71+1,195 2795,a39 61+1,031+ 1+36,876 827,837 802, XcA. 2019,216 U.S.Treasurer-general acct. 262,101 13,153 1+7,501+ 16,830 11,822 12,677 22,089 44,71+4 18,362 18,380 21,280 19,436 15,271+ Foreign l+3l+,7l+3 29,9311/159,71+7 38,003 1+3,709 23,280 19,1+79 65,561+ 17,101+ 11,877 17,104 16,629 42,316 Other 1+13,1U8 2,281+ 343,556 1,198 5,903 3,613 998 6,51+3 5,605 1,101+ 5,C93 562 0^j-U^ Total deposits 19,ll+0,lll+ 805,591 6,702,894 873,932 1327,586 759,321+ 783,761 2912,290 682,155 1+68,737 871,314 839,055 2115,1+95 Deferred availability items 1,972,881+ 188,796 385,661 11+1,136 168,193 165,820 131,916 261+,195 112,905 53,21+6 lGl-,839 9h,99B 161,179 Other liabilities including accrued dividends 9,966 697 2,552 556 1,279 548 1+75 1,562 i+70 334 1+16 371 706 TOTAL LIABILITIES l+l+,620,532 21+07,060 12,1+81,691+ 26i+l;,085 3591,231 21+77,535 2203,l<'+3 7685,91+0 1876,329 1134,504 1896,664 1538,992 1+683,005 Capital paid in 205,690 11,505 70,1+21 ll+,907 19,21+2 9,017 8,107 25,958 6,733 4,545 7,239 8,257 19,709 Surplus (Section 7) 1+66,711 29,3U7 ll+3,019 36,701+ 1+3,968 22 ,1+17 20,023 68,81+2 17,974 11,797 17,008 ll+,954 1+0,653 Surplus (Section 13b) 2? ,543 3,oil 7,319 4,1+89 1,006 3,349 762 1,1+29 521 1,073 1,137 1,307 2,11+0 Other capital accounts 153,61+3 11,159 34,682 11,579 l£+,720 10,61+3 9.081 21,910 8,£ 5,903 Q 0 7 r\ 7,657 14,380 q-U TOTAL LIABILITIES AND CAPITAL ACCOUSTS 1+5,1+79,119 21+62,082 12,737,135 2711,761+ 3670,167 2523,011 221+1,1+21 7801+.079 1910,1+55 1157,827 1930,121+ 1571,167 1+759,887 Contingent liability on acceptances purchased for foreign correspondents 3,956 2i+9 2/1,250 317 364 194 162 546 11+2 99 11+2 139 352 Commitments to make industrial loans 2,257 60 — 103 1,781 15 210 8 — — — — 80 F.R. notes outstanding 2l+,137,959 11+1+1,61+0 5,537,11+1+ 1671,625 2159,791+ 1602,611+ 1331,51+3 4575,271+ 1112,673 625,969 91+4,1+76 631,287 2503,920 Collateral for F.R. notes held by F.R. Agents: Gold certificates 13,754,000 1+1+0,000 1+,670,000 550,000 900,000 625,000 675,000 2805,000 315,000 210,000 280,000 131+,C00 2100,000 Eligible paper 21,303 1,130 6,672 1,770 3,925 3,l+oo 200 2,150 — 2,556 U.S. Govt, securities 11,1+75,000 1100,000 1,000,000 1200,000 1300,000 1025,000 700,000 1800,000 900,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES lithin 16 to 31 to 61 to 9I days to 6 months 1 to 2 2 to 5 Over Total 13 days 30 days 60 days 90 days 6 months to 1 year years ye ar s 5 years Discounts and advances 11?,711 17,1+83 11,532 74,722 9,496 1+78 Industrial loans U.E^ Govt, securities 19,342,8 k9 6 6 0 951,9 1+ 1 3 2 9 334,878 3 27 3,32l+,9l8 780,300 1 + 4,827,700 16 2,090,200 5,14*3,000 l,58l+,952 1/ After deducting $32lj.*969*0Q0 participations of other Federal Reserve Banks. 2/ After deducting $2,?06,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis