H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM K.k*l (For Immediate Release) Sept* 8* I9h9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 7 member bank reserve balances decreased $517*000,000*. Reductions in member bank reserves resulted from a decrease of $1^5,000,000 in Reserve Bank credit and increases of $200,000,000 in money in circulation, $lj.2,000,000 in nonmember deposits and other Federal Reserve accounts and $7,000,000 in Treasury cash, offset in part by a decrease of $138,000,000 in Treasury deposits with Federal Reserve Banks and an increase of $1+0,000,000 in gold stock* Excess reserves of member banks on September 7 were estimated to be approximately $1,000,000,000* The decrease in reserve requirements, which became effective September 1, reduced required reserves of member banks by approximately $250,000,000* This was the last of the successive decreases announced by the Board on August 5*> under which program there has been an aggregate reduction of approximately $1,800,000,000 in required reserves # Holdings of loans, discounts and advances decreased $1)26,000,000 and of United States Government securities $111,000,000* The decrease in holdings of United States Government securities reflects decreases of $llj.6,000,000 in certificates and $6,000,000 in notes, and an increase of $^1,000,000 in bills* Changes in member bank reserve balances and related items during the week and the year ended September 7* 19^9 were as follows: Increase or decrease since Sept, 7„ August 31, Sept.. Q, 19J+9 19h9 191+8 (In mi .llions of dollars) U« S. Government securities 17,U3 -111 -3.827 Loans, discounts and advances 116 -416 - 195 Other Reserve Bank credit 250 + 80 - 33 Total Reserve Bank credit 17,780 -14+5 -l+,054 Gold stock 24,647 + 4o + 854 Treasury currency i+,592 - 1 + 21 Member bank reserve balances 15,995 -517 -1,822 Money in circulation 27,589 +200 - 698 Treasury cash 1,317 + 7 - 19 Treasury deposits with F* R* Banks 1+72 -138 - 859 Nonmember deposits; and other F* R, accounts- 1,646 + 1+2 + 209 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H. 1.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease si nee Sept. 7, Aug. 31, Sept. 8, 192*9 192*9 192*8 A S S E TS Gold certificates 22,8l|2,i|29 + 2U*,999 + 929,755 Redemption fund for F, R notes 551,389 - 13,178 - 67,585 # Total gold certificate reserves 23,593,818 + 51,821 •f 862,170 Other cash 2U6,31U - 2;5,839 + 13,991 Discounts and advances 115,579 -2415,2; 06 - 192*, 582 Industrial loans 538 + 1 385 U. S. Govt, securities* Bills 3,526,510 + 2*1,198 -3,131*, 12*7 Certificates 5,812,000 -1246,2*00 + 88U,66l Notes 299,600 - 5,000 -1,2487,800 Bonds 7,775,200 - 89,119 Total U* S. Government securities 17,^13,310 -110,202 -3,826,1405 Total loans and securities 17,529,^27 -525,607 -[4,021,372 Due from foreign banks kd 1 F* R„ notes of other banks 1014,256 - 15,076 - 11,539 Uncollected items 2,196,860 - 1,825 - 207,098 Bank premises 32,625 2 •f 222 Other as sots 136,106 + 2*,365 - 38,593 TOTAL ASSETS 2*3,659,2*52* -552.163 -3,2402,220 L I A B I L I T I ES "Federal Reserve notes 23,Ml ,069 +133,2408 - 717,286 Deposits. Member bank-reserve account 15,995,156 -516,2463 -1,821,616 U.S,Treasurer-general account li72,27l -138,0724 - 859,036 Foreign [462,515 + 23,350 + 56,170 Other 2*92,720 + 17,517 + 27,337 Total deposits 17,U22,662 -613,670 -2,597,~ro Deferred"availability items 1,91*6,537 - 81,872 - 172* ,2*30 Other liabilities including accrued dividends 9,193 + 668 24,2i;0 TOTAL LIABILITIES U2,789,2T6T -556,2*66 -3,2493,101 C A P I T AL A C C 0 U N T S Capital paid in 206,987 6611 + 7,717 Surplus (Section 7) 166,711 + 18,522 Surplus (Section 13b) 27,52*3 Other capital accounts 11*8,752 ++ 2244,,22224422 + 6U,61i2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS irj76397OT -3,Zi0y,L?yu ^^555522TTrr55jj Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 57*3% 6.3# Contingent liability on acceptances purchased for foreign correspondents 2,5^2 2*19 1,213 Commitments to make industrial loans 2,039 33 [4,033 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 SEPTEMBER 7, 19^+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 22,81+2,1+29 853,723 7,177,01+7 1186,537 1670,217 1111,317 975,258 1+516,336 700,658 1+56,759 868,069 631,790 269l+,7l8 Redemption fund for F. R. notes 551,389 50,71+7 1+5.501* ^6,356 61,009 5l,Uo6 1+1,161+ 81+.829 U3»U77 22,557 35,190 25,5^2 1+3,628 Total gold certificate, reserves 23,393,818 904,1+70 7,222,551 1232,873 1731,226 1162,723 1016,1+22 1+601,165 7Ui,l35 1+79,316 903,259 657,3322738,31+6 other cash 2i+6,3ll+ 31,879 1+1,911 11,887 2l+,78l 17,617 17,1+01+ 32,163 ll,5l+l 6,732 11,1+30 8,199 30,770 Discounts and advances 115,579 9,675 33,212 7,1+79 15,282 7,633 ^+,557 ll+,7l+7 3,736 2,21+3 4,612 3,581 8,822 Industrial loans 538 — 5ll+ 1 23 U. S. Govt, securities: Bills 3,526,510 21+3,287 835,71+8 21+0,219 325,253 226,391 189,067 526,215 190,580 lll+,l61+ 170,570 152,539 312,1+77 Certificates 5,812,000 1+00,958 1,377,385 395,902 536,01+8 373,112 311,598 867,250 314,092 188,151 281,115 251,399 51^,990 Notes 299,600 20,669 71,002- 20,1+08 27,632 19,231+ 16,063 1+4,705 16,191 9,699 ll+,i+91 12,959 26,547 Bonds 7,775,200 536,395 1,842,645 529,631 717,114 499,145 1+16,852 1160,192 420,187 251,707 376,071 336,316 638,945 Total U.S.Government securities 17,413,310 1201,309 4,126,780 1186,160 1606,047 1117,882 933,580 2598,362 91+1,050 563,721 842,247 753,213 15^2,959 Total loans and securities 17,529,427 1210,984 4,159,992 1194,153 1621,330 1125,538 938,137 2613,109 91+4,786 565,964 846,859 756,794 1551,781 Due from foreign banks 48 3 l/ 15 4 h 2 2 7 2 1 2 2 4 F.R.notes of other banks 104,256 7,085 l2+,li+0 3,788 5,865 9,639 8,092 15,308 5,665 9,472 7,220 3,248 l4,73l+ Uncollected items 2,196,860 168,984 409,306 l4l,521 182,754 193,352 155,285 333.317 125,959 71,864 122,814 100,068 191,130 Bank premises 32,625 i,l48 7,946 3,009 4,759 2,499 1,538 3,177 1,910 1,156 2,333 730 2,420 Other assets 136,106 9,1+46 31,26l 8,920 13,01+1 8,589 7,245 20,728 8,383 4,325 6,465 5,720 11,98? TOTAL ASSETS 1+3,639,454 2333,999 11,887,122 2596,155 3583,760 2519,959 2lii4,125 7619,474 1842,381 1138,830 1900,^2 1532,093 4541,174 l/ After deducting $33,000 participations of other Federal Reserve Bantf. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l^l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON SEPTEMBER 7, 19b9 (In thousands of dollars ) L I A B I L I T I ES Total Boston New York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas SanFran. Federal Reserve notes 23,1*11,069 1384,71+1 5,558,590 1605,231 2071,971 1569,281 1285,018 1+512,269 1071,762 612,3 5 920,933 6l6,83U 2 02,094 4 4 Deposits * Member bank-reserve acct» 15,995,156 675,905 5,256,115 715,337 1170,422 668,043 634,842 2580,810 573,707 401,196 764,131 748,U6l 1806,187 U.S.Treasurer-general acct. , i;72,271 29,493 72,893 U2,276 57,096 35,9Ul 50,997 68,615 26,229 27,785 49,452 24,870 6,624 Foreign 462,515 28,1;01 1/154,148 36,064 4l,U74 22,089 18,483 62,210 16,229 11,270 16,229 15,778 1+0,11+0 Other U92,720 3,26U ~432,2li 1,484 l+,9i+6 2,949 1+93 2,437 6,306 1,311 2,905 7l+3 53,671 Total deposits 17,U22,662 757,065 5,915,567 795,161 1273,938 729,022 684,815 2714,072 622,471 1+41,562 832,717 789,852 1886,622 Deferred av"a 11 abi 1 ity items 1,946,537 157,195 356,719 128,171 I58,61il 176,361 136,574 275,025 114,127 61,587 113,396 95,519 175,624 Other liabilities including accrued dividends 9,195 674 2,U50 506 1,205 476 U25 l,U06 588 515 537 350 683 TOTAL LIABILITIES 42,789,461 2279,671 11,655,126 2529,069 5505,755 2 75,l40 2106,652 7502,772 1808,71+8 1115,80? 1867,585 1500,535 4465,023 4 •'" *?• pita 1 pa id in 206,987 11,537 71,109 15,010 19,351 9,080 8,155 26,008 6,812 £,560 7,223 8,307 19,875 surplus (Section 7) 466,711 29,347 143,019 36,70li U3,968 22,417 20,028 68,842 17,974 11,797 17,008 l4,95U U0,653 • >urp 1 us (Section ljib) 27,5ii3 5,011 7,319 U,Ii89 1,006 3,549 762 1,1+29 521 1,075 1,157 1,307 2,1^0 Other capital accounts •148,752 10,455 52,51+9 10,885 15,700 9,975 8,568 20,425 8,526 5,595 7,651 7,190 15,485 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 43,639,454 2333,999 11,887,122 2596,155 3583,760 2519,959 2144,125 7619,474 1842,381 1138,850 1900,582 1532,093 1+51+1,174 Contingent liability on acceptances purchased for foreign correspondents 2,522 152 2/ 868 193 223 118 99 554 87 61 87 85 215 Commitments to make industr ial loans 2,039 60 106 1,758 15 — 27 — — — — 75 F.R. notes outstanding 24,049,612 11+50,686 5,505,809 1648,300 2129,052 1613,259 1350,258 459l,4lli 1107,465 622,203 941,751 642,051 2489,406 Collateral for F.R. notes held by F.R. Agents s Gold certificates H+,099,000 440,000 4,670,000 750,000 1000,000 650,000 675,000 2900,000 340,000 210,000 280,000 184,000 2000,000 Eligible paper 16,701 4,175 5,500 *95 3,555 595 60 1,1+70 1,055 U.S. Govt, securities 10,950,000 1100,000 1,000,000 1000,000 1150,000 1000,000 700,000 1700,000 850,000 1+50,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 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 'Miscounts t-d advances 115,579 26,790 5,667 Hi,906 68,203 13 Industrial loans 558 1+88 3 4 30 13 U.ii. Govt, securities 17,1+15,510 1,230,853 2,256,528 1,178,262 61+3,067 1,604,500 3,226,200 1,826,100 ^ r )>) s P.,0C0 l/ After deducting $508,3k1,000 participations of other Federal Reserve Banks. 2/ After deducting $1,65!+,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis