H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) November 10, 19^9 CONDITION OF THE FEDERAL RESERVE BANKS During the week, ended November 9 member bank reserve balances decreased $292,000,000. Reductions in member bank reserves ,resulted from decreases of $231,000,000 in Reserve Bank credit, $51,000,000 in gold stock, and an increase of $1*4-6,000,000 in money in circulation, offset in part by decreases of $130,000,000 in Treasury deposits with Federal Reserve Banks and $6,000,000 in Treasury cash. Excess reserves of member banks on November 9 were estimated to be approximately $920,000,000. Holdings of loans, discounts and advances decreased $292,000,000, while holdings of United States Government securities increased $173,000,000. The change in holdings of United States Government securities reflects increases of $129,000,000 in bills and $1+5,000,000 in certificates. Changes in member bank reserve balances and related items during the week and the year ended November 9, I9J+9 were as follows: Increase or decrease since Nov. 9, Nov. 2, Nov. 10, 1949 1949 1948 (In millions of dollars) U. S. Government securities 17,706 +173 -5,438 Loans, discounts and advances 320 -292 7 Other Reserve Bank credit 159 -112 - 298 Total Reserve Bank credit 18,185 -231 -5,744 Gold stock 24,532 - 51 + 435 Treasury currency 4,592 + 1 + 13 Member bank reserve balances 16,145 -292 -3,802 Money in circulation 27,528 +146 - 809 Treasury cash 1,312 - 6 5 Treasury deposits with F. R. Banks 415 -130 -l,l?3 Nonmember deposits and other F. R. accounts 1,910 + l + 459 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 Nov. 9, Nov. 2, Nov. 10 19**9 19^9 191*8 A S S E TS Gold certificates 22,716,1*29 - 51,002 + 521,000 Redemption fund for F. R. notes - 825 - 81,560 Total gold certificate reserves 23,265,172 - 51,827 + 439,440 Other cash 243,7^2 - 27,386 7,193 Discount's and advances 319A05 - 291,672 7,297 Industrial loans 909 4 64 U. S. Govt, securities: Bills 4,030,996 + 128,800 - 91*6,21+8 Certificates 5,81*1,900 + 1*5,000 - 277,919 Notes 298,100 - 525,500 Bonds - 1,500 -3,688,788 7,534,700 Total U. S. Government securities 17,705,696 +172,300 -5,438,455 Total loans and securities 18,025,710 - 119,376 -5,M+5,8i6 Due from foreign banks 35 ll* F. R. notes of other banks 97,1*1+6 - 13,753 - 30,117 Uncollected items 2,339,716 - 228,915 - 1*1*5,1*19 Bank premises 33,081* + 112 + 861 Other assets 133,691 + i*,93!* - 78,1*33 TOTAL ASSETS l*i*,138,596 - 1*36,211 -5,566,691 L I A B I L I T I ES Federal Reserve notes 23,321,1*30 + 97,203 860,215 Deposits: Member bank-reserve account 16,144,755 - 292,21*5 -3,802,1*25 U.S. Treasurer-general account 1*15,162 - 129,692 -1,137,991* Foreign 688,811 + 28,009 + 251*, 1*19 Other 530,955 - 27,033 + 53,078 Total deposits 17,779,683 - 1*20,961 -1*,632,922 Deferred availability items 2,180,261* - 117,552 - 11*7,767 Other liabilities including accrued dividends 12,1*11 + 973 - _ 368 TOTAL LIABILITIES 1*3,293,788 - 1*1*0,337 -5,61*1,272 C A P I T AL A C C O U N TS Capital paid in 207,1*1*1* 156 + 7,328 Surplus (Section 7) 1*66,711 + 18,522 Surplus (Section 13b) 27,5^3 Other capital accounts 143,110 3,970 -i- 1*8,731 TOTAL LIABILITIES AND CAPITAL ACCOUNTS **57l38,596 1*36,211 -5,566,691 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.6$ .3* 7.6$ Contingent liability on acceptances purchased for foreign correspondents 4,534 + 1*15 2,676 Commitments to make industrial loans 1,834 1 1*,270 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 9, 1949 (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 22,716,429 846,6i8 7,175,721 1222,009 1593,1^2 1103,813 1004,719 4382,064 713,095 ^59,5^8 801,615 679,879 2734,206 Redemption fund for F- R- notes 5^8,743 51,829 46,525 45,703 59,693 50,632 40,286 83,551 43,092 22,409 34,885 27.277 42.861 Total gold certificate " reserves 23,265,172 898,447 7,222,246 1267,712 1652,835 1154,445 1045,005 4465,615 756,187 481,957 836,500 707,1562777,067 Other cash 243,742 27,231 4l,348 12,151 24,247 18,675 17,928 32,618 11,890 5,543 10,956 10,693 30,462 Discounts and advances 319,105 8,917 157,113 8,978 37,706 12,356 4,503 51,034 8,420 5,355 11,481 3,102 10,140 Industrial loans 909 — — 767 1 97 — -— --- ^ U. S. Govt, securities: Bills 4,030,996 278,090 955,306 274,583 371,783 258,778 216,114 601,493 217,843 130,495 194,971 17^,361 357,179 Certificates 5,841,900 403,022 1,384,471 397,939 538,804 375,033 313,201 871,711 315,708 189,120 282,561 252,692 517,638 Notes 298,100 20,565 70,647 20,306 27,494 19,137 15,982 44,482 16,110 9,650 14,419 12,894 26,4l4 Bonds 7,534,700 519,804 1,785,649 513,249 694,933 ^83,705 ^03,958 1124,305 407,190 243,921 364,438 325,913 667,635 Total U.S.Government securities 17,705,696 1221,481 4,196,073 1206,077 l633,Ol4 1136,653 9^9,255 2641,991 956,851 573,186 856,389 765,860 1568,866 Total loans and securities 18,025,710 1230,398 4,353,186 1215,822 1670,721 1149,106 953,758 2693,025 965,271 578,585 867,870 768,962 1579,006 Due from foreign banks 35 2 l/ 11. 3 3 2 2 5 1 1 1 1 3 F.R.notes of other banks 97,446 5,000 17,504 2,788 5,647 11,453 7,924 14,698 5,846 3,670 5,060 5,216 12,640 Uncollected items 2,339,716 180,719 405,015 152,9^3 195,722 206,215 170,199 370,732 144,421 75,863 134 458 96,035 207,39^ 5 Bank premises 33,084 1,138 7,909 2,998 4,731 2,489 1,531 3,166 1,956 1,151 2,332 723 2,960 Other assets 133,691 9,136 31,237 8,729 12,568 8,514 7,067 20,468 8,225 4,143 6,275 ____5,645 11,684 TOTAL ASSETS 44,138,596 2352,071 12,078,456 2663,146 3566,474 2550,899 2203,4l4 7600,327 1893,797 1150,913 1863,452 1594,431 4621,216 l/ After deducting $24,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OK NOVEMBER 9, 1949 H.4.1(c) (in thousands of dollars) Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. T_J__A. B I L I T I ES Total Federal Reserve notes 23,321,1+30 1371,575 5,359,478 1603,772 2021,032 1578,417 1284,834 4470,450 1082,730 610,028 914,302 638,229 2386,583 Deposits: Member bank-reserve acct. 16,144,755 673,433 5,333,812 745,182 1183,070 664,397 651,504 2572,863 585,339 403,799 736,665 757,855 1836,836 U.S.Treasurer-general acct. 415.l62 36,969 52,453 30,546 35,574 27,174 38,078 24,455 32,570 28,359 33,376 29,619 45,989 Foreign 688,811 42,752 1/224,629 54,288 62,431 33,251 27,823 93,647 24,430 16,965 24,430 23,751 60,414 Other 530,955 5,199 465,747 1,310 5,376 3,272 593 1,747 6,853 l,06»+ 3,360 586 35,848 Total deposits 17,779,683 758,353 6,076,641 831,326 1286,451 728,094 717,998 2692,712 649,192 1+50,187 797,831 811,811 1979,087 Deferred availability items 2,180,261+ 167,434 386,258 160,575 180,173 199,195 162,805 319,042 123,066 67,504 118,079 112,391 178,742 Other liabilities including accrued dividends 12,411 734 3,443 763 1,280 657 559 2,073 486 363 1+78 1+50 1,125 TOTAL LIABILITIES 43,293,788 2298,096 11,825,820 2596,1+36 3438,936 2506,363 2166,196 71+84,277 1860,1+71+ 1128,0821830,690 1562,881 4545,537 Capital paid in 207,444 11,538 71,013 15,013 19,354 9,171 8,188 26,176 6,81+0 4,576 7,235 8,376 19,964 Surplus (Section 7) 466,711 29,347 143,019 36,704 1+3,968 22,1+17 20,028 68,81+2 17,974 11,797 17,008 14,954 40,653 Surplus (Section 13b) 27,543 3,011 7,319 4,1+89 1,006 3,349 762 l,i+29 521 1,073 1,137 1,307 2,140 Other capital accounts 143,110 10,079 31,285 10,504 13,210 9,599 8,240 19,603 7,988 5,385 7,382 6,913 12,922 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,138,596 2352,071 12,078,456 2663,146 3566,474 2550,899 2203,414 7600,327 1893,797 1150,9131863,452 1594,431 4621,216 Contingent liability on acceptances purchased for foreign correspondents 4,534 286 2/1,433 363 1+17 186 626 163 113 163 159 1+03 Commitments to make industrial loans 1,834 908 831+ 15 — 7 -- — — — 70 P.P. notes outstanding 24,023,658 11+23,014 5,504,807 1650,967 2102,216 1621,823 1333,321 1+551,912 1118,003 620,711 938,704 672,321 21+85,859 Collateral for F.R. notes held by F.R. Agents: Gold certificates 14,279,000 1+40,000 4,670,000 750,000 1000,000 650,000 675,000 3020,000 400,000 210,000 280,000 184,000 2000,000 Eligible paper 164,741 3,650 130,695 2,290 -- 8,260 — -- 5,410 3,265 8,1+71 -- 2,700 U. S. Govt, securities 10,800,000 1100,000 1,000,000 1000,000 1150,000 1000,000 700,000 1600,000 800,000 1+50,000 700,000 500,000 800,000 mWRITI DISTRIBUTION OF LOANS AMD" SECURITIES Within 16 to 31 to 61 to 9l days to 6 months 1 to 2 2 to 5 Over Total 15 days 30 days 6C days 90 days 6 months to 1 year years years 5 years Discounts and advances 319,105 291,283 "9,887 8,236 8,176 1,518 5 Industrial loans 909 744 3 6 k6 32 78 U.S. Govt, .securities 17,705,696 58I.65O 970,283 2,386,054 1,167,409 957,500 4,372,200 1,826,100 5,2^,500 l/ After deducting $1+64,162,000 participations of other Federal Reserve Banks 2/ After deducting $3,101,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis