H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Hj+,1 (For Immediate Release) October 6, 19^9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 5 member bank reserve balances increased $3^8,000,000, Additions to member bank reserves resulted from a decrease of $55-8*000,000 in Treasury deposits with Federal Reserve Banks and increases of $9,000,000 in Reserve Bank credit, $2,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by increases of $128,000,000 in money in circulation, $65,000,000 in nonmember deposits and other Federal Reserve accounts and $10,000,000 in Treasury cash. Excess reserves of member banks on October 5 were estimated to be approximately $1,150,000,000. Holdings of loans, discounts and advances decreased $188,000,000 while holdings of United States Government securities increased $109,000,000 The in # crease in holdings of United States Government securities reflects increases of $89,000,000 in bills and $20,000,000 in certificates* Changes in member bank reserve balances and related itemp during the week and the year ended October 5, 191+9 were as follows* : Increase or decrease sine !Q Oct. 5, Sept. 28 » Oct.,6, I9k9 I9k9 !9hQ (In millions of < iollars) U« S» Government securities 17,961 +109 -5,182 Loans, discounts and advances 113 -188 - 184 Other Reserve Bank credit 331 + 87 + 6k Total Reserve Bank credit 18,4o6 + 9 -5,301 Gold stock 2i4,60l+ + 2 + 716 Treasury currency k,593 + 3 + 21 Member bank reserve balances 16,38/4 +368 -3,200 Money in circulation 27,1+76 +128 - 726 Treasury cash 1,321 + 10 3 Treasury deposits with F* R* Banks 612 -558 - 984 Nonmember deposits and other F» R. accounts 1,809 + 65 + 31+6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H^.l(a) OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Oct, 5, Sept. 28, Oct* 6, 19U9 19U9 19U8 A S S E TS Gold certificates 22,797,1+32 - 1,996 + 807,001 Redemption fund for F* R* notes 51+8,267 - 2,293 8l+,505 Total gold certificate reserves 23,3U5,699 - 1+.289 722,1+96 Other cash 253,77U - 23,1+20 + 1,1+91 Discounts and advances 112,1+59 -187,379 183,501 Industrial loans 896 + 223 - 161 U# 3. Govt* securities* Bills 1+, 305,1+71+ + 89,700 --22 ,227,505 Certificates 5,819,1+00 + 19,500 39l+,569 Notes 298,100 Dil+,500 Bonds 7,538,200 ,91+5,103 Total V 3* Government m ~"s"ecurities 17,961,171+ +109,2so --55 ,181,677 Total loans and securities 18,07l+,529 - 77,956 -5 ,365,339 Due~from foreign banks 35 13 ll+ F, R* notes of other banks 108,359 - 22,891 27,622 Uncollected items 2,501,1+69 + 1+1,269 + l+6,oil+ Bank premises 32,785 1+3 + 1+76 Other assets 109,887 - 16,706 55,525 TOTAL ASSETS l+l+,l+26,537 -10l+,ol+9 -i+,678,023 L I A B I L I T I ES Federal Reserve notes 23,308,117 + 82,577 - 768,593 Deposits• Member bank-reserve account l6,38l+,39l +368,763 -3,199,383 U.S. Treasurer-general account 611,875 -558,1+81+ - 983,651+ Foreign 5U8,712 + 31,371 + li+8,792 Other * H+,797 + 59,7i+9 526,512 Total deposits -11+3,553 -3,974,1+96 18,071,1+90 Deferred availability items - 1+5,936 - 18,161+ 2,i7o,oU3 Other liabilities including accrued dividends 11,768 71+7 3,211 TOTAL LIABILITIES 1+3,561,1+18 -107,659 -1+, 76^1+61+ C A P I T AL A C C O U N TS Capital paid in 207,020 7 + 7,020 Surplus (Section 7) 1+66,711 + 18,522 Surplus (Section ljb) 27,51+3 Other capital accounts 163,81+5 + 3,603 + 60,899 TOTAL LIABILITIES AND CAPITAL ACCOUNTS -101+., 01+9 -l+,678,023 lji+,1+26,537 Ratio of gold certificate reserves to deposit and F* R. note liabilities combined 56.1+fo • 1% 7.3^ Contingent liability on acceptances purchased for foreign correspondents 3,818 127 + 3,01+1+ Commitments to make industrial loans 1,91+7 765 i+,2l+l+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBEJR 5, 191+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 22,797,1+52 86l,ZU+9 7,569,1+19 1186,7I+8 1598,5&2 1121,950 957,1+87 1+1+01,811 705,155 1+50,729 856,879 656,685 2670,.558 Redemption fund for F. R. notes 51+8,26? 50,555 1+5,681+ 1+5,606 60,415 52,502 1+0,757 81+,5l+l+ 1+5,295 22,1+91+ 55,01+1 26,479 1+5*299 Total gold certificate reserves 25,51+5,699 911,802 7,415,105 1252,551+ 1658,975 H7l+,252 998,21+4 1+1+86,355 71*8,450 473,225 871,920 665,1642715,857 other cash 255,771+ 29,991 42,820 11,456 21,751 16,920 20,160 5l+,555 12,291+ 6,612 10,085 11,875 55,257 Discounts and advances 112,1+59 6,496 52,1?2 8,065 9,589 6,555 4,196 14,910 4>800 4,040 9,2?2 3,81+8 8,738 Industrial loans 896 805 1 90 U. S, Govt, securities: Bills 4,305,1+71+ 297,026 1,020,354 293,280 397,098 276,399 230,829 642,450 232,677 139,581 208,24? 186,255 581,500 certificates 5,819,1+00 4oi,469 l,379,ll+0 396,406 556,729 575,587 511,996 868,353 3ll+,l+92 188,392 281,472 251,719 515,645 Notes 298,100 20,565 70,647 20,306 27,1+91+ 19,137 15,982 1+4,1+82 16,110 9,650 14,1+19 12,891+ 26,4l4 Bonds 7,558,200 520,01+5 1,786,478 513,1+87 695,256 485,930 l+0l+,ll+5 1124,828 407,5?9 2l+4,05l+ 361+,6o8 326,065 667 9l+5 y Total U.S.Government securities " 17,961,174 1239,105 4,256,619 1223,1+79 1656,577 1153,055 962,952 2680,115 970,658 581,457 863,71+6 7?6,9ll 1591,501+ Total loans and securities 18,074,529 1245,601 4,288,791 1252,549 1666,167 1159,1+76 967,148 2695,025 975,1+58 585,1+97 878,018 780,759 1600,242 Due from foreign banks 55 2 l/ 11 5 5 2 2 5 1 1 1 1 5 F.R.notes of other banks 108,559 6,585 16,675 1+.553 5,768 10,780 9,572 16,380 5,742 7,164 6,659 5,1+19 13,502 Uncollected items 2,501,469 196,369 l+3l+,l58 158,721 219,1+51 2l4,l+l+7 155,856 1+27,465 158,591+ 80,761 157,775 103,161 216,753 Bank premises 32,785 1,12*3 7,927 3,005 4,?l+5 2,491 l,53l+ 3,l?2 1,906 1,153 2,51+6 ?26 2,639 other assets 109,887 7,815 25,51+2 7,159 10,677 6,807 5,825 16,750 6,855 5,1+1+7 5,125 i+,562 9,5h5 TOTAL ASSISTS 1+4,1+26,557 2399,108 12,228,807 2649,378 3587,537 2585,175 2156,321 7679,685 1909,500 1157,858 1911,903 1569,667 4591,798 l/ After deducting $24,000 participations of other Federal Re?^"*<? ftmis, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.It.l(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE EMS ON OCTOBER 5, 19u9 (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 23,508,117 1373,011 5,338,190 1594,440 2049,149 1577,532 1281,119 4488,126 1077,7U3 613,828 913,150 62^,097 2377,732 Depositsj Member bank-reserve acct. 16,384,391 713,606 5,503,317 758,615 1174,832 671,957 635,056 2599,105 593,657 396,988 761,607 7l;9,?28 1820.923 U.S.Treasurer-general acct. 611,875 44,309 106,1; 02 45,394 39,765 62,1+72 30,040 5C,h66 34,^5 33,301 61,088 49,162 50.161 Foreign 548,712 33,850 1/181,099 42,984 49,431 26,328 22,029 74,il;7 19,^5 13,513 19,31+3 1S,3C6 u7,839 other 526,512 5,952 465,552 1,09*4 5,720 3,725 609 2,925 7,604 1,251 9U3 501 54,676 Total deposits 18,071,490 795*697 6,254,350 848,087 1269,748 764,482 687,734 2726,643 659,919 450,053 842,931 818,197 1953,599 Deferred availability it ems 2,170,01+3 174,382 375,522 138,036 187,722 196,796 148,627 344,000 136,743 70,025 121,606 94,523 182,051 Other liabilities including accrued dividends 11,763 672 3,193 666 1,477 608 506 1,911 501 421; 467 44I 902 TOTAL LIABILITIES 43,561,418 2343,762 11,971,255 2581,229 3508,096 2539,413 2117,986 7560,680 137U.906 1134,330 1878,204 1537,258 4514,294 Capital paid in 207,020 11,518 71,001 15,017 19,344 9,114 8,lii0 26-022 6,835 4,573 7,221; 8,340 19,892 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 l4,95U 40,653 Surplus (Section 13b) 27,543 3,on 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,mo Other capital accounts 165,845 11,470 56,215 11,959 15,125 10,877 9,1)05 22.712 9,064 6,085 8,550 7,808 14,819 TOTAL LIABILITIES AND ' ' CAPITAL ACCOUNTS 44,426,537 2599,108 12,228,807 26U9.378 5587,537 2585,175 2156,321 7679,665 1909,300 1157,858 1911,903 1569,667 U591,798 Contingent liability on acceptances purchased for foreign correspondents 3,818 2U1 2/l,207 '306 351 187 157 527 138 92 138 13U 340 Commitments to make industrial loans 1,9^7 60 — 915 858 15 — 26 -- — — — 73 F.R. notes outstanding 23,994,855 lU32,189 5,1*75,380 l61;l,532 2116,073 1617,555 1331,758 li57i,042 111)4,219 625,516 938,074 652,700 2480,817 Collateral for F.R. notes held by F.R. Agents. Gold certificates 14,279,000 440,000 4,670,000 750,000 1000,000 650,000 675,000 5020,000 400,000 210,000 280,000 184,000 2000,000 Eligible paper 16,068 700 3,100 705 — 1,825 — — 1,488 1,740 5,960 — 550 U.S. Govt, securities 10,800,000 1100,000 1,000,000 1000,000 1150,000 1000,000 700,000 1600,000 800,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOANS AND ^''"H'^JL Within lFTTo JI to 6T to 9.1 cry•: "co 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 r.iontns to 1 year years years 5 years Discounts and advances 112,459 24,710 6,902" 67,283 "1575^2" "20~ 2~ Industrial loans 8^5 779 3 __ — 3 33 13 65 U.S. Govt., securities 17,961,174 990,753 699,1;28 1,127,267 2,li65,826 1,055,100 4,3li8,700 ~ 1,826,100 5,448,000 l/ After deducting $367,594,000 participations of other Federal Reserve Banks. 2/ After deducting $2,611,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis