H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) Sept. 1, I9U9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 31 member bank reserve balances increased $3*000 ,000• Additions to member bank reserves resulted from increases of $liji4.,000,000 in Reserve Bank credit and $2,000,000 in Treasury currency, and decreases of $35*0^0,000 in nonmember deposits and other Federal Reserve accounts and $11,000,000 in Treasury cash, offset in part by increases of $125,000,000 in Treasury deposits with Federal Reserve Banks and $61,000,000 in money in circulation and a decrease of $3,000,000 in gold stock* Excess reserves of member banks on August 31 were estimated to be approximately $1,270,000,000* Another reduction in reserve requirements, as part of the program announced on August 5* became effective on August 25 and resulted in a reduction of approximately $250,000,000 in required reserves of member banks. Holdings of loans, discounts and advances increased $i_|l6,000,000* Holdings of United States Government securities decreased $279,000,000, reflecting decreases of $189*000,000 in bills and $90,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended August 31, 19^9 were as follows: Increase or decrease since August 31, August 2k* Sept. 1, 191+9 19^9 19hQ (In millions of dollars) U* S* Government securities 17,524 -279 -3,887 Loans, discounts and advances 532 +U6 + 213 Other Reserve Bank credit 170 + 8 - 37 Total Reserve Bank credit 18,225 +lhh -3,712 Gold stock 2l+,607 - 3 + 832 Tre a s ury currency k,593 + 2 + 25 Member bank reserve balances 16,512 + 3 -1,212 Money in circulation 27 ,339 + 61 - 683 Treasury cash 1,310 - 11 - 13 Treasury deposits with F. R. Banks 610 +125 -1,083 Nonmember deposits and other F. R. accounts l,60i; - 35 + 135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4«l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 31, Aug. 21+, Sept. 1, 19U9 19U8 A S S E TS Gold certificates 22,797,^30 + 7,001 + 9Uli,758 - khMo Redemption fund for F. R* notes 56ii,567 - 2,celt Total gold certificate reserves 23,361,997 + U,977 + 900,35F Other cash 292,153 - 5,830 + 29,373 Discounts and advances 530,985 +1+15,653 + 212,91+3 Industrial loans 537 + 10 283 U. 3. Govt, securities: Bills 3,li85,3i2 -190,306 -3,383,14*5 Certificates 5,958,liOO - 89,500 +1,009,561 Notes 30l+,6oo -I,li93,700 Bonds 7,775,200 20,01+6 Total U* S. Government 17,523,512 -279,806 -3,887,630 Total loans and securities 18,055,0311 +135,857 -3,67li,970 Due" from Tore"ign banks 1+8 1 F« K, notes of other banks 119,332 + 2,091 6,753 Uncollected items 2,198,685 + 2,359 - 26k,lhk Bank premises 32,627 65 + 221+ Other assets 131,71a + 3,977 - 39,219 TOTAL ASSETS 1+1+,191,617 +11+3,366 -3,055,lli2 L I A B I L I T I ES Federal Reserve notes 23,272,661 + 52,197 - 679,681 Deposits• Member bank-reserve account 16,511,619 + 2,306 -1,212,305 U.S.Treasurer-general account 610,31*5 +125,105 -1,082,226 Foreign 1+39,165 - 214,697 + 26,61+5 Other 1475,205 - 9,013 + 52,757 Total deposits 18,03^7332 + 93,701 Deferred availability items 2,028,1*09 - 5,821 - 227,1+30 Other liabilities including accrued dividends 8,525 626 U,031 TOTAL LIABILITIES U5,3U5,927 +139,U5l -3,luo,29l C A P I T AL A C C O U N TS Capital paid in 206,926 7 + 7,666 Surplus (Section 7) 1+66,711 + 18,522 Surplus (Section 13b) 27,51*3 Other capital accounts + 3,922 + 6l4,96l Il4l4,510 TOTAL LL1BILITIES AND CAPITAL ACCOUNTS hk,191,617 +TEJI355" -3,055/W Ratio of gold certificate reserves to deposit Knd F. R. note liabilities combined 56.6% .1% 5.8% Contingent liability on acceptances purchasec for foreign correspondents 2,9lil 352 1,538 Commitments to make industrial loano 2,072 i+,120 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.Jj.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 31, 1949 (in thousands of dollars ) L I A B I L I T IE S Total Boston New York Phi la, Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas SanFran. Federal Reserve notes" 23,272,661 137U,QU3 5,3^0,100 1601,160 2061,096 1561,231 1275,192 1*1*95,61*2 1065,217 606,049 913,891 609,1; 51 2369,589 Deposits: Member bank-reserve acct. 16,511,619 666,237 5,679,778 71*2,735 1167,931 667,o>*0 6UU>60I4. 2604,668 588,619 397,81*4 763,373 756,801; 1831,936 U.S.Treasurer-general acct. 610,345 31,262 1*5,1*15 36,283 15,577 34,085 28,0u2 141,308 33,982 55,155 97,913 34,507 26,816 Foreign 1*39,165 27,173 1/144,069 3u,5l2 39,689 21,139 17,687 59,533 15,530 10,785 15,530 15,099 38,411* Other U7:^-2C3 3,365 4 111 ,282 1,839 I;,806 2,128 685 2,636 5,569 1,559 3,581 875 33,875 Total deposits I8,cir.332 728,095 6,233,544 815,369 1258,003 724,392 691,018 2808,145 61+3,700 465,343 880,397 807,285 1931,01*1 i Deferred xlability iterns 2 } 02C,409 157,512 380,922 118,615 176,1*22 182,708 ll*0,962 313,134 119,980 67,905 111,556 93,631* 165,059 Other liabilities including accrued dividends 8,525 635 2,311 1*33 1,035 383 370 1,271 383 391* 363 292 605 TOTAL LIABILITIES 1*3,3^5,9^7 2260,335 12,006,877 2535,577 3496,556 2468,711* 2107,51*2 7618,192 1829,280 1139,691 1906,207 1510,662 4466,294 uapibai 1 p J alu x ti 206,°26 11,537 71,109 15,004 19,330 9,072 8,135 26,002 6,812 1*,557 7,223 8,307 19,338 Surplus (Section 7) 466,711 29,3*7 11*3,019 36,701* 1*3,968 22,1+17 20,028 68,81*2 17,971* 11,797 17,008 11*, 95u 1*0,633 Surp lu s (3 3 ct i on 13"o ) 27,543 3,011 7,319 4,1*89 1,006 3,31*9 762 1,1*29 521 1,073 1,137 1,307 2; 11*0 0th e r c ap i t a 1 a c ?• ou nt s ll;4,510 10,079 31,536 10,607 13,326 9,710 8,352 19,81*2 8,052 5,1*52 7,376 7,025 13,103 TOTAL LIABILITY AND CAPITAL ACCOUNTS 1*4,191,617 2314,309 12,259,910 2602,381 3574,186 2513,262 2144,819 7734,307 1862,639 1162,570 1938,951 1542,255 1*51*2,028 Contingent liability on acceptances purchased f or f or e i gn c orr e s p ond e nt s 2,91*1 185 2/ 929 235 271 11*1* 121 1*06 106 73 106 103 262 Commitments to make industrial loans 2,072 60 lie 1,771* 15 — 28 — 77 F.R. notes outstanding 23,972,261* 11*27,1*57 5,1*86,099 1653,771 2128,1*81* 1608,674 1321,938 1*573,893 1103,035 616,003 938,91*2 636,932 2477,036 Collateral for F,R. notes held by F.R. Agents • Gold certificates 13,999,000 440,000 4,670,000 750 ,000 900,000 650,000 675,000 2900,000 340,000 210,000 280,000 184,000 2000,000 Eligible paper 593,304 1,777 362,880 815 — 5,555 — — 18,795 299 5,530 -- 2,603 U.S. Govt, securities 11,100,000 1100,000 1,000,000 1000 ,000 1300,000 1000,000 700,000 1700,000 850,000 1*50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within I5To 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 Discounts and advances 530,^35 1*1*3,156 5,734 15,393 66,61*5 57 — __ Industrial loans 537 509 ' - -3 4 8 13 — U.S. Govt, securities 17,523,512 1,319,640 766,21*1 2,695,631 486,000 1,025,400 3,956,500 — 1,826,100 5,;,48.,P00 l/ After deducting $295,078,000 participations of other Federal Reserve Banks. 2/ After deducting $2,012,000 participations of other Federal Re^r^e Bnrks* 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 51, 191+9 (In thousand 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 22,797,1+30 85l+,755 7,085,198 1190,187 1651+.971+ 1095,551 981,81+5 1+571,798 695,696 1+78,951 901,593 61+0,366 2690,516 Redemption fund for F. R. notes 56^,567 50,901 1+6,1?!+ 46,659 71.257 52,572 1+1,320 85,059 1+5.545 22,578 55,240 25,586 1+3,716 Total gold certificate reserves ~~ 25,561,997 885,656 7,129,572 1256,826 1706,211 11I+8,123 1023,165 2+656,357 737,21+1 501,529 936,855 665,952 2752+,252 Other cash 292,155 35,ll+l 1+8,1+60 ll+,750 30,750 19,1+50 21,669 56,007 15,196 7,280 12,727 10,289 2+0,1+71+ Discounts and advances 530,985 7,151 589,855 7,659 15.625 9,755 1+.1+77 i+9,871 21,866 2,2+52 8,650 5,512 10,191+ Industrial loans 557 — 50l+ 1 52 U« S. Govt, securities: Bills 5,1+85,312 235,112 884,966 232,12+7 314,524 218,782+ 182,711+ 508,533 181+.176 110,327 162+.339 11+7,2+13 301,977 Certificates 5,958,1+00 1+11,058 1,2+12,081 2+05,871+ 51+9,550 332,511 319,44? 869,095 322,002+ 192,891 288,195 257,732 527,962 Kotes 302+,600 21,012+ 72,187 20,71+9 28,091+ 19,551+ 16,531 45,1+51 16,1+61 9,861 ll+,733 15,175 26,990 Bonas 7,775,200 536,595 1,82+2,62+5 529,651 717,111+ 1+99,ll+5 1+16,852 1160,192 2+20,187 251,707 576..Q71 536,316 688,91+5 Total U,s» Government securities 17,525,512 1205,579 4,211,879 1188,2+01 1609,082 1119,991+ 935,544 2605,271 91+2,828 562+,786 82+5,858 754,656 151+5,871+ Total looaannss aanndd securii ties 18,055,052+ 1210,750 4, 601,711+ 1196,51+1+ l622+,706 1129,761 939,821 2653,11+2 962+,69!+ 567,218 852,2+88 758,12+8 1556,068 Due from foreign banks i+8 3 l/ 15 2+ 2+ 2 2 7 2 1 2 2 1+ F.R.notes of other banks 119,332 7,2i+9 lk,555 9,082+ 5,686 11,02+2 10,319 16,098 6,510 9,205 7,672 2+,308 17,6ol+ Uncollected items 2,198,685 165,253 2+2?J51 155,2+77 189,269 19l+,05l 12+1,507 5l+9,o69 128,951+ 72,016 120,650 97,265 179,685 Bank premises 52,627 1,148 7,945 5,009 2+,759 2,2+99 1,538 3,l?l+ 1,910 1,156 2,539 730 2,2+20 otner assets 131,72+1 9,H+9 50,U3 8,687 12,821 8,574 6,998 19,953 8,152 2+,l65 6,22+0 5,565 1 1^ TOTAL ASSETS 2+i+,191,617 23l2+,309 12,259,910 2602,581 3574,186 2513,262 2l2+l+,8l9 7734,307 1862,639 1162,570 19^,951 1542,255 4542,028 l/ After deducting $33,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis