H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.ii.l (For Immediate Release) August 11, 19^9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 10 member bank reserve balances decreased $272,000,000, Reductions in member bank reserves resulted from a decrease of $289*000,000 in Reserve Bank credit and increases of $1+0,000,000 in nonmember deposits and other Federal Reserve accounts and $2,000,000 in Treasury cash* offset in part by decreases of $1+1,000,000 in Treasury deposits with Federal Reserve Banks and $10,000,000 in money in circulation and an increase of $6,000,000 in gold stock. Excess reserves of member banks on August 10 were estimated to be approximately $910,000,000. A week before excess reserves were reported as $9^0,000,000. If adjusted for the reduction of approximately $250,000,000 in required reserves of country banks, which was announced on August 5 retroactive to August 1, excess reserves of member banks on August 3 would be $1,190,000,000, Holdings of loans, discounts and advances decreased $161,000,000 and of United States Government securities $87,000,000. The decrease in holdings of United States Government securities reflects decreases of $233,000,000 in certificates, $5,000,000 in bonds, and $1,000,000 in notes, and an increase of $156,000,000 in bills. Changes in member bank reserve balances and related items during the week and the year ended August 10, 191+9 were as follows: Increase or decrease since August 10, August 3# August 11, 191& 19^9 1914B (in millions of dollars) TT- S* Government securities 18,606 - 87 -2,960 ]>ons, discounts and advances 138 -161 - 156 0 ';.\e T Re s e r ve Bank ere di t 180 -hi - 21+ Total Reserve Bank credit 1Q.92.U. -289 -3,il+o C-\; a stock 2i|,568 + 6 + 880 T."' iasury currency U,592 - 1 + 28 Tloriber bank reserve balances 17,31+7 -272 - 1+87 Money in circulation 27,1409 - 10 - 557 Treasury cash l,3ll+ + 2 - 10 Treasury deposits with F. R. Banks 370 -la -1,336 Ti ruTiember deposits -and other F« R. accounts 1,61*7 + ho + 212 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 Aug, 10, Aug. 3, Aug. 11, 1949 1949 1948 A S S E TS Gold certificates 22,757,-429 + 10,000 + 945,758 Redemption fund for F. R. notes 568,273 - 4.146 - 40*189 Total gold certificate reserves 23,325,702 + 5,854 + 905,569 Other cash 291,165 - 7,628 + 29,092 Discounts and advances 137,894 -160,450 - 154,872 Industrial loans 526 14 109 U. S, Govt, securities; Bills 4,089,195 +156,400 -3,236,117 Certificates 6,389,000 -237,500 +1,228,593 Notes 352,600 - 1,000 -1,512,500 Bonds 7,775,200 - 5,000 + 559,792 Total U. S. Government securities 18,605,995 - 87,100 -2,960,232 Total loans and securities 18 $ 744 $ 4-15 -247,564 -3,115,213 Due from foreign banks 49 F. R, notes of other banks 110,496 - 6,187 - 15,113 Uncollected items 2,238,502 - 12,088 - 233,747 Bank premises 32,694 + 97 + 202 Other assets. 119,565 + 3,847 - 34,401 TOTAL ASSETS 44,862,588 -263,669 -2,463,611 L I A B I L I T I ES Federal Reserve notes 23,289,138 - 21,833 - 557,505 Deposits: Member bank-reserve account 17,346,662 -272,576 - 487,514 U. S. Treasurer-general account 369,506 - 41,680 -1,386,752 Foreign 4^4j4^^ + 859 + 109,030 Other 461,399 + 36,946 = 18.587 Total deposits 18,671,989 -276,451 -1,783,823 Deferred availability items 2,058,506 + 29,365 - 209,612 Other liabilities including accrued dividends 3*551 ± 321 4.228 TOTAL LIABILITIES 44,029,185 -268/324 -2,555,168 C A P I T AL A C C O U N TS Capital paid in 206,803 30 + 7,614 Surplus (Section 7) 466,711 + 18,522 Surplus (Section 13b) 27,543 Other capital accounts 132.346 ±_^625_ + 65.421 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,862,588 -263,669 -2,/, 63, 611 Ratio of gold certificate reserves ~o deposit and F, R. note liabilities combined 55.6% + • 4 4 # P 5.0fo Contingent liability on acceptances purchased for foreign correspondents 3,272 - 471 + 1,503 Commitments to make industrial loans 2,049 - 206 4,203 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 AUGUST 10, I9I+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 22,757,1+29 797,1+1+9 7,303,525 1166,51+0 1620,1+01+ 1061,1+67 1006,198 1+1+23,666 688,753 1+58,786 850,098 625,959 2796,826 Redemption fund for F. R. notes 568-273 51,056 1+6,863 1+5,958 71,1+65 1+9,767 1+1,1+98 90,571+ 1+3>615 22,609 35,297 25,709 1+3,881+ Total gold certificate reserves' " 23,325,702 81+8,505 7,550,386 1212,278 1691,869 1111,231+ 101+7,696 !+5ll+,2l+0 732,546 l+6l,395 865,595 61+9,61+8 281+0,710 other cash 291,165 56,291 52,ll+8 13>235 27,760 17,1+61 25,1+1+6 38,917 li+Ml 7,1+63 12,167 10,152 37,681+ Discounts and advances 137,891+ 9,778 55,944 8,?I+2 19,566 11,116 5,556 15,598 5,560 3,009 5,930 4,022 13,295 Industrial loans 526 — — 502 1 25 — — — — U. S. Govt, securities: Bills 1+,089,195 282,105 969,098 278,51+8 377,151 262,511+ 219,231+ 610,178 220,988 132,580 197,786 176,878 362,335 certificates 6,389,000 1+1+0,765 1,514,129 1+35,206 589,261+ 1+10,151+ 31+2,533 953,347 345,275 206,830 509,024 276,556 566,117 Notes 552,600 24,525 85,565 24,018 52,521 22,636 18,904 52,614 19,055 H,4l5 17,054 15,252 51,245 Bonds 7,775,200 556,395 1,842,645 529,651 717,114 499,145 4l6,852 1160,192 420,187 251,707 376,071 536,316 688,945 Total U.S.Government securities 18,605,995 1285,590 4,409,455 1267,405 1716,050 1194,449 997,525 2776,331 1005,505 602,352 899,935 80l+,802 1648,640 Total loans and securities 18,744,415 1293,368 4,445,379 1276,647 1735,1+17 1205,588 1003,059 2791,929 1011,065 605,341 905,865 808,824 1661,953 Due from foreign banks 49 5 l/ 16 4 4 2 2 ? 2 1 2 2 4 F.R.notes of other banks 110,496 6,627 15,259 8.166 5,520 11,899 9,333 15,100 7,711 7.657 6,849 4,420 15,975 Uncollected items 2,238,502 165,742 392,-869 147,785 189,347 198,186 150,592 372,422 121,590 73,472 122,449 105,410 198,658 Bank premises 32,694 1,152 7,964 5.014 4,7?0 2,506 l,54l 5.175 1,915 1,159 2,559 733 2,426 Other assets 119,565 8,217 27,6i6 7,824 11,598 7.64l 6,557 18,130 7,444 5,745 5,678 5,028 10,507 TOTAL ASSETS 1+4,862,588 2559,905 12,291,617 2668,953 5666,085 2554,517 2242,006 7751,920 1896,514 1160,253 1920,744 1584,217 4765,877 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,4,1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 10, 1949 (in thousands of dollars) B I L I TI Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Lcuis Minn, Kans.Cy. Dallas SanFran, federal Keserve notes 23,289,138 1379,704 5,331,760 1608,659 2068,259 1536,811 1284,619 4499,901 1070,145 603,635 918,149 604,768 2382,728 nRposltr.; Member bank-reserve acct, 17,346,662 711,745 5,723,442 799,220 1276,822 726,106 719,341 2695,904 633,86/+ 424,805 813,669 809,997 2011,747 U.S.Treasurer-general acct. 369,506 20,651 70,949 20,305 21,915 34 O52 32,271 39,608 24,230 30,242 20,601 18,770 35,912 0 Foreign 494,422 30,820 1/159,741 39,136 45,007 23,971 20,057 67,510 17,611 12,230 17,611 17,122 43,606 Other 461,399 4,462 " 395,320 2,185 5,227 2,553 501 2,608 5,598 1,717 6 117 509 34,602 r Total deposits 18,671,989 767,678 6,349,452 860,846 1348,971 786,682 772,170 2805,630 681,303 468,994 857,998 846,398 2125,867 Deferred availability items 2,058,506 158,623 357,895 132,972 171,503 186,743 148,170 330,499 111,900 64,796 111,874 101,639 181,892 Other liabilities including accrued dividends 9,552 641 2,488 546 890 535 463 1,613 41: 336 438 359 828 TOTAL LIABILITIES 44,029,185 2306,646 12,041,595 2603,023 3589,623 2510,771 2205,422 7637,643 1863,763 1137,761 1888,459 1553,164 4691,315 Capital paid in 206,803 11,522 71,097 14,996 19,295 9,069 8,131 25,996 6,809 4,554 7,256 8,294 19,784 Surplus (Section 7) 466,711 29,347 143,019 36,704 43,968 22,417 20,028 68,842 17,974 11,797 17,008 14,954 40,653 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,606 3,349 762 1,429 521 1,073 1.137 1,307 2,140 Other capital accounts 132,346 9,379 28,587 9,741 12,193 8,911 7,663 18,010 7,447 5,048 6,884 6,498 11,985 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,862,588 2359,905 12,291,617 2668,953 3666,085 2554,517 2242,006 7751,920 1896,514 1160,233 1920,744 1584,217 4765,877 Contingent liability on acceptances purchased for foreign correspondents 3,272 206 2/1,034 262 301 160 134 451 118 82 118 115 291 Commitments to make industrial loans 2,049 60 — 95 1,774 15 — 28 — — — — 77 F.R, notes outstanding 24,013,609 1435,686 5,497,641 1658,773 2135,344 1582,826 1328,689 4575,948 1115,105 616,640 943,794 637,563 2485,600 Collateral for F.R, notes held by F.R, Agents: Gold certificates 13,954,000 440,000 4,670,000 750,000 900,000 625,000 675,000 2805,000 315,000 210,000 280,000 J84,000 2100,000 Eligible paper 22,223 3,365 3,775 598 — 5,628 — — 1,895 464 2,265 — 4,233 U.S. Govt, securities 11,250 000 1100,000 1,000,000 1000,000 1300,000 1000,000 700,000 1800,000 900,000 450,000 700,000 500,000 800,000 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 years l-'j scounts and advances 137,894 104,283 9,891 3,926 18,216 1,578 — " — Industrial loans 526 476 23 — 3 4 7 13 U.S. Govt, securities 18,605,995 986,735 714,983 3,139,415 1,055,762 780,300 4,390,600 2,090,200 5,448,000 1/ After deducting 0334,613,000 participations of other Federal Reserve Banks. 2/ After deducting 02,238,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis