H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.l^l (For Immediate Release) July 21, 19/49 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended July 20 member bank reserve balances decreased $91,000,000. Reductions in member bank reserves resulted from a decrease of $183,000,000 in Reserve Bank credit and an increase of $78,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by decreases of $lll±,QOO,000 in money in circulation fykk*000,000 in nonmember deposits and other Federal r Reserve accounts and $7,000,000 in Treasury cash and an increase of $5,000,000 in gold stock. Excess reserves of member banks on July 20 were estimated to be approximately $950,000,000,, Holdings of loans, discounts and advances increased $220,000,000 while holdings of United States Government securities decreased $368,000,000. The decrease in holdings of United States Government securities reflects decreases of $267,000,000 in bills, $98,000,000 in certificates and $^,000,000 in notes• Changes in member bank reserve balances and related items during the week and the year ended July 20, 19L& were as follows* Increase or decrease since July 20, July 13, July 21, 19149 19U9 19J1-8 (in millions of dollars) IT* S. Government securities 18,klh -368 -2 ,852 Loans, discounts and advances 361 +220 + 75 Other Reserve Bank credit 261 - 35 - 15 Total Reserve Bank credit 19,096 -183 -2 ,792 Gold stock 2i4,5l8 + 5 + 868 Treasury currency U,595 - l •J, 3k Member bank reserve balances 17,^15 - 91 _ 88 Money in circulation 27,366 -lli* - ^98 Treasury cash 1,310 - 7 - Ik Treasury deposits with F# R. Banks kk9 + 78 -1 ,430 Nonmember deposits and other F* R« accounts 1,670 - Uk + 139 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.l*.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in -thousands of dollars) Increase or decrease since July 20, July 13, July 21, 191*9 191x9 19l|8 A S S E TS Gold certificates 22,70lj,li33 + 5*001 + 939*762 Redemption fund for F. R. notes 58lj,ii95 - 3,86l 30,587 Total gold certificate reserves 23,288,926 + 1,11*0 + 909,175 Other cash 299,953 + 21,319 + 29,39U Discounts and advances 360,266 +220,157 + lh>99l Industrial loans 520 + 26 J2k VJ • S. Govt, securities: Bills 3,669,195 -266,917 -h,29J4,586 Certificates 6,671,000 - 97,700 +1,715,593 Notes 353,600 - 3,500 -1,60^,200 Bonds 7,780,200 — +1,331,1+57 Total U, S» Government securities 18,^73,995 -368,117 -2,851,756 Total loans and securities 18,8314,781 -11*7*93^ -2,777,083 Due from foreign banks il9 F. R. notes of other banks 127,616 + 6,961 - 2,283 Uncollected items 2,580,080 -120,953 - 139,829 Bank premises 32,662 + k + 1^3 Other assets 10iu508 + k &k - 30,122 9 TOTAL ASSETS i* 5,268,605 -23^,639 -2,010,605 L I A B I L I T I ES Federal Reserve notes 23,278,926 - 95,8^9 - 1*77,311 Deposits : Member bank-reserve account 17,^15,18J4 - 90,686 - 87,329 U.S.Treasurer-general account Ui8,756 + 77,671 -1,1*30,086 Foreign 526,150 + 17,920 + 95.785 Other £0lit053 - 60,9l|8 85,803 Total deposits 18,79^1^3 - 56,01*3 -1,507,1*33 Deferred availability items 2,318,882 - 86,107 - 12J4,971 Other liabilities including accrued dividends 9,178 853 l|,lj28 TOTAL LIABILITIES I**!, 1+01,129 -238,832 -2, 111*, li*3 C A P I T AL A C C O U N TS Capital paid in 205,996 122 • 6,996 Surplus (Section 7) 1*66,711 — + 18,522 Surplus (Section 13b) 27,5ii3 Other capital accounts 167,226 + I*,Q71 + 78,020 JOTAL LIABIUTIES AND CAPITAL ACCOUNTS 1*5,268,605 -23l|,639 -2,010,605 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 55#li% *2% h*6% Contingent liability on acceptances purchased for foreign, correspondents 3,087 - 1*85 + 982 Commitments to make industrial loans 2,259 - 18 1*,166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BM KS ON JULY 20, 1949 (In thousands of dollars) A S S E TS Total Boston Hew York Phila, Cleve, Rich.. Atlanta Chicago St.Louis Minn, Kans ,Cy» Dallas SanFran, Gold certificates 22,704,435 850,870 7,159,089 1187,696 l628,46l 1046,767 1009,626 4425,501 710,331 439.202 850,218 632,756 2786,136 Redemption fund for P. R. notes 584,493 51,447 48,674 56,728 72,045 50,796 4l,892 90,880 43,798 22,675 35,443 25,883 44,227 Total gold certificate reserves' 23,288,926 902,317 7,187,765 1244,424 1700,506 1097,565 1051,518 45l4,l8l 754,129 461,877 885,661 658,6242850,363 other cash 299,953 31,675 57,293 15*82*7 32*126 19,013 21,423 43,264 15,78 0 6,777 12,029 10,902 55,844 Discounts and advances 560,266 15,761 186,541 14,232 9,393 l4,96l 5,6?4 49.663 13,020 29,583 5,370 6,470 11,548 Industrial loans 520 — — 496 — 24 U. S. Govt, securities: Bills 3,669,195 253,130 869,562 249,938 338,414 235,551 196,717 547,506 198.291 118,783 177,472 158,711 325,120 Certificates 6,671,000 460,220 1,580,961 454,415 615,272 428,258 357,652 995,427 360,514 215,961 322,662 288,554 591,104 Notes 353,600 24,394 83,800 24,086 52,615 22,700 18,958 52,763 19,109 11,447 17,103 15,295 31,552 Bonds 7,780,-200 536,74o 1,843,829 529,972 717,576 499,466 417,1191160,938 420,45 8 251,868 576,515 556,555 689,388 Total U.S.Government securities 18,473,995 1274,484 4,378,152 1258,411 1703,875 1185,975 990*44^2756,634 998,572. 598,059 895,550 799,095 1656,944 Total loans and securities 18,854,781 1288,245 4,564,695 1275,189 1715,268 1200,960 996,120 2806,297 1011,592 627,642 898,920 805,565 1648 ,492. Due from foreign banks 49 3 1 / 16 4 4 2 2 7 2 1 2 2 4 F.iuaotes of other banks 127,646 8,409 17,420 7,589 6,999 14,849 11,328 16,019 7,480 7,014 7,954 4,779 17,806 Uncollected items 2,580,080 200,609 459,769 176,697 239,975 203,533 162,297 388,514 145,210 80,048 150,637 124,889 250,104 Bank premises 32,662 1,157 7,982 3,020 4,779 2,513 1,545 3,181 1,919 1.16X 2,34$ 737 2,325 Other assets. 104,508 7_,33.2 J3^7_66._.6,J>X5_._lpjl2l„._j6i5l8 5,521 15*954 6,596 3,306 4^96 4,575 9,05® TOTAL ASSETS 45,268,605 2439,747 12,318,702 2725,625 3707,776 2544,951 2249,754 7787,217 1940,508 1187,826 1962,444 1610,069 4793,986 1/ After deducting $33,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k, 1(c) STATEMENT OF CONDITION OF THS F.3D3RAL RESERVE BANKS ON JULY 20, I9U9 (In thousands of dollars) L I A B I L IT I BS Total Boston New York phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 23,278,926 1389,108 5,336,551 16C8,819 2075,795 1529,052 1275,797 Iiii95,0ti3 1073,306 605,577 915,056 598,061+ 2330,753 Deposits t Member bank-re serve acct. 17,1+15,18l+ 71+6,575 5,725,998 825,562 1251,096 720,056 713,11+1+ 2688,851 638,309 U5U,a73 826,1+92 813,959 2005,669 U.3>.Treasurer-general acct. 1+1+8,756 20,1+80 9^,103 27,385 37,5^+3 30,061+ 32,801+ 63,906 32,09!+ 19,202 30,361+ 25,268 35,51+3 Foreign 526,150 3u,020 l/l56,7u3 1+3,200 1+9,680 26,1+60 22,11+0 7li,520 19,1+1+0 13,500 19,1+1+0 18,900 1+8,107 Other 11011,053 u,66o 337,592 1,858 14,863 2,502 1,116 2,957 5,300 1,1+51+ l+,69l+ 1+79 36,078 Total deposits 18,79^,11+3 805,735 6,3lu,U36 898,005 131+3,132 779,082 77l+,20l+ 2330,2314 695,613 1488,629 880,990 858,606 2125,397 Deferred availability items2,318,882 138,680 1407,389 150,022 208,023 190,307 160,856 3^+2,953 136,583 69,51+9 13k,125 120,1411 209,14814 Other liabilities including accrued dividends 9,178 603 2,383 I465 1,000 I470 1+29 l,511i 372 U5U 356 1+25 707 TOTAL LIABILITIES l+l+.uOl, 12g 23814,126 12,061,259 2657,311 3628,000 2li98,9ll 2211,286 7667,71+1+ 1905,9014 11614,209 1928,527 1577,506 +716,31+6 Capital paid in 205,996 ll,5iU 70,1+30 114,936 19,293 9,062 8,126 25,985 6,791+ As 550 7,255 8,269 19,782 Surplus (Section 7) 1466,711 29,3147 lll3,019 36,70li 143,968 22,1417 20,028 68,8142 17,97^ 11,797 17,008 11*, 95k 10,653 Surplus (Section 13b) 27,51+3 3,011 7,319 U,U89 1,006 3.3U9 762 1,1+29 521 1,073 1,137 1,307 2,1140 Other capital accounts 167,226 11,71+9 36,675 12,185 15,509 11,212 9,552 23,217 9,315 6,197 8,517 8,033 15,065 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 145,268,605 21+39,71+7 12,318,702 2725,625 3707,776 25lili,95l 221+9,75!+ 7787,217 1940,508 1187,826 1962,1+1+1+' 1610,069 1+793,996 Contingent liability on acceptances purchased for foreign correspondents 3,087 195 2/975 21+7 281+ 151 127 1+26 111 77 111 108 275 Commitments to make industrial loans 2,259 60 -- 83 1,783 15 210 28 — ~ -- — 80 F.R. notes outstanding 2l+,078,851+ 11+37,851+ 5,509,396 1661+, 563 211+8,082 15914,1+56 1333,080 it575,573 1110,196 621,757 938,590 637,61+2 =507,665 Collateral for F.R. notes held by F.R. Agents: Gold certificates 13,75l+,000 1+1+0,000 [+,670,000 550,000 900,000 625,000 675,000 2305,000 315,000 210,000 280,000 18l+,000 2100,000 Eligible paper 213,121 7,820 1146,61+2 6,738 -- 9,9^0 -- — 9,625 27,225 1,975 — 3,156 U.S. Goirt. securities 11,1+75,000 1100,000 1,000,000 1200,000 1300,000 1025,000 700,000 i8oo,ooo 900,000 [+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 ys&rs 5 yee-rs Discounts and advances 360,266 2a87502" 16,91+3 8U,ooo 99*,771il*55 1*071 Industrial loajps 520 U69 21; ~ h 7 16 U.S. Govt, securities 18,1+73,995 652,1+28 566,777 1,613,696 2,686,li9l| 7ii2,200 i|,67ii,200 2,090,200 5,1|1|8,000 l/ After deducting $369,360,000 participations of other Federal Reserve Banks, 2/ After deducting $2,112,000 participations of other Federal Reserve Fanks # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis