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 25, 19^9 CONDITION OF TEE FEDE.RAL RESERVE BAMS During the week ended November 23 member bank reserve "balances decreased $445,000,000. Reductions in member bank reserves resulted from a decrease of $260,000,000 in Reserve Bank credit and increases of $111,000,000 in money in circulation, $83,000,000 in nonmember deposits and other Federal Reserve accounts, and $2,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by an increase of $4,000,000 in Treasury currency and a decrease of $8,000,000 in Treasury cash,, Excess reserves of member banks on November 23 were estimated to be approximately $660,000,000, Holdings of loans, discounts and advances increased $10,000,000 vhile holdings of United States Government securities decreased $120,000,000. The change in holdings of United States Government securities reflects decreases of $69,000,000 in bills, $32,000,000 in certificates and $19,000,000 in bonds* Changes in member bank reserve balances and related items during the week and the year ended November 23, 1949 were as follows: Increase or decrease since Nov. 23, Nov. 16, Nov. 24, 19^9 19^9 1948 (In millions of dollars) U. S» Government securities 17,669 -120 -5,32^ Loans, discounts and advances 135 •+ 10 - 1+1+8 Other Reserve Bank credit 287 -150 - 78 Total Reserve Bank credit 18,091 -260 -5,850 Gold stock 2*+,530 + 380 Treasury currency 4,596 + 1+ + 16 Member bank reserve balances 15,987 -1+1+5 -3,9^7 Money in circulation 27,508 +111 - 797 Treasury cash 1,315 - 8 2 Treasury deposits with F. R. Banks i+io + 2 -1,21+0 Eonmemher deposits and other F* R. accounts 1,997 + 83 + 533 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 COMBBIED (In thousands of dollars) Increase or decrease since Nov. 23, Nov. 16, Nov. 24, 19^9 1948 A S S E TS Gold certificates 22,724,432 10,002 + 469,001 Redemption fund for F. R. notes 547,464 3,259 - 79,766 Total gold certificate reserves "23,271,916 +"-359,235" Other cash 238,868 14,317 - 16,618 Discounts and advances 132,753 + 8,699 - 449,111 Industrial loans 1,846 + 548 + 866 U. S. Govt, securities: Bills 4,034,328 69,168 - 991,466 Certificates 5,822,900 32,000 - 197,719 Notes 298,100 - 482,850 Bonds 7,513,300 19,000 -3,652,527 Total U. S. Government securities 17,668,628 120,168 -5,324^562 Total loans and securities 17,803,227 - 110,921 -5,772,8~07 Due from foreign "banks 14 F. R, notes of other banks 118,728 5 "671 17,212 Uncollected items 2,581,687 -1,031,53^ - 180,237 Bank premises 33,178 + 72 + 938 Other assets 142,400 + 3,724 - 80,688 TOTAL ASSETS 44,190,039 -1,15-1,904 -5,677,^03 L I A B I L I T I ES Federal Reserve notes 23,326,678 85,637 • 839,591 Deposits: Member bank-reserve account 15,986,805 - 445,040 -3,9^7,6i6 U. S. Treasurer-general account 409,642 + 1,928 -1,240,651 Foreign 745,3^0 + 52,112 • 279,400 Other 56o,8i4 + 30,210 + lo4,6io Total deposits 17,702,601 r-350,790 -4,W*, 257 Deferred availability items 2,294,338 - 881,681 - 103,019 Other liabilities including accrued dividends 13,346 + _ 515 1,157 TOTAL LIABILITIES 43,336,963 -1,156,319 -5,748,02? C A P I T AL A C C O U N TS Capital paid in 207,571 16 + 7,387 Surplus (Section 7) 466,711 + 18,522 Surplus (Section 13b) 27,543 Other capital accounts 151,251 + 4^431 +44,712 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,190,039 -1,151,904 -5,677,403 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.7$ 7.7?< Contingent liability on acceptances purchased for foreign correspondent? 6,731 1,062 4,881 Cor™i+,ir,cm^ ho make industrial loans 1,829 6 4,268 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 23, 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 22,724,432 861,668 7,261,148 1203,085 1560,541 1076,168 983,937 4403,646 703,239 446,926 822,605 684,576 2716,893 Redemption fund for E. R. notes 547,484 51,683 45,864 45,425 59,*85 51,269 4o,l4l 83,350 43,036 22,389 34,843 27,230 42,769 Total gold certificate reserves 23,271,916 913,351 7,307,012 1248,510 1620,026 1127,437 1024,078 4486,996 7*6,275 469,315 857,**8 711,806 2759,662 Other cash 238,868 24,165 41,237 11,003 22,067 17,433 18,97* 29,578 15,472 5,436 11,912 11,083 30,508 Discounts and advances 132,753 6,803 36,331 7,258 12,487 17,852 5,083 9,683 9,618 7,077 8,393 2,419 9,7*9 Industrial loans 1,846 — — 1,700 1 100 — - --- 45 --- . .. --- IL. S. Govt, securities: Bills 4,034,328 278,320 956,096 274,810 372,090 258,992 216,293 601,990 218,023 130,603 195,132 17^,505 357,*7* Certificates 5,822,900 401,711 1,379,968 396,644 537,051 373,813 312,183 868,875 3l4,68l 188,506 281,642 251,870 515,956 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 7,513,300 518,327 1,780,577 511,792 692,960 482,331 402,810 1121,113 406,034 243,227 363,403 324,988 665,738 Total U.S.Government securities 17,668,6281218,923 4,187,288 1203,552 1629,595 1134,273 9*7,268 2636,*6o 95*,8*8 571,986 854,596 764,2571565,582 Total loans and securities 17,803,227 1225,726 4,223,619 1212,510 1642,083 1152,225 952,351 2646,143 964,466 579,108 862,989 766,676 1575,331 Due from foreign banks 35 2 1/ 11 3 3 2 2 5 1 1 1 1 3 F.R.notes of other banks 118,728 5,102 20,467 3,777 6,371 1*,95* 9,917 15,683 7,396 4,389 6,928 5,217 18,527 Uncollected items 2,581,687 207,299 *63,86l 172,606 233,3*5 200,955 171,064 403,171 153,020 77,979 1*5,559 132,13* 220,494 Bank premises 33,178 1,138 7,91* 2,992 4,728 2,477 1,529 3,l66 1,955 1,151 2,332 723 3,073 Other assets l42,4oo 9,740 33,342 9,225 13,501 9,006 7,553 21,746 8,713 4,429 6,683 6,088 12,374 TOTAL ASSETS 44,190,039 2386,523 12,097,463 2660,826 3542,124 2524,489 2185,468 7606,488 1897,298 ll4l,8o8 1893,852 1633,728 4619,972 l/ After deducting $24,000 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 NOVEMBER 23, 1949 (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 23,326,678 1383,681 5,391,270 1611,335 2020,366 1569,645 1276,230 4477,191 1083,468 608,908 911,437 640,073 2353,074 Deposits: Member bank-reserve acct. 15,986,805 667,650 5,236,638 743,324 1137,494 654,069 64i,o85 2506,148 580,976 397,178 762,264 790,403 1869,376 U.S.Treasurer-general acct. 409,642 34,803 60,913 28,075 35,099 29,906 27,671 48,966 26,859 23,970 28,952 22,139 42,289 Foreign 745,340 46,677 1/238,545 59,272 68,163 36,304 30,377 102,244 26,672 18,523 26,672 25,932 65,959 Other 560,814 4,137 500,082 1,916 7,583 2,608 1,728 2,038 5,797 1,100 349 528 32,948 Total deposits 17,7 02,601 753,467 6,036,178 832,587 1248,339 722,887 700,861 2659,396 640,304 440,771 818,237 839,002 2010,572 Deferred availability items 2,2 94,338 194,097 411,875 148,844 193,556 186,221 170,124 350,317 139,254 68,655 130,529 122,175 178,691 Other liabilities including accrued dividends 13,346 744 3,63£ 762 1,566 69s 595 2,23,0, -53L -311. 502 582 1,13.9 TOTAL LIABILITIES 43,336,963 2331,989 11,842,955 2593,528 3463,827 5479,445 2147,810 7489,134 1863,557 1118,705 1860,705 1601,832 4543,476 Capital paid in 207,571 11,539 70,9^6 15,023 19,362 9,148 8,189 26,237 6,84l 4,577 7,244 8,385 20,080 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 13"b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 151,251 10,637 33,224 11,082 13,961 10,130 8,679 20,646 8,405 5,656 7,758 7,250 13,623 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,190,039 2386,523 12,097,463 2660,826 35^2,124 2524,489 2185,468 7606,488 1897,298 ll4l,8o8 1893,852 1633,728 4619,972 Contingent liability on acceptances purchased for foreign correspondents 6,731 415 2/2,223 527 606 323 270 910 237 165 237 231 587 Commitments to make industrial loans 1,829 868 869 15 — 7 — — —- — 70 F.R. notes outstanding 24, 043,015 1425,880 5,507,343 1647,261 2111,537 1617,039 1337,074 4565,515 1115,330 620,529 937,518 679,477 2478,512 Collateral for F.R. notes held by F.R. Agents: Gold certificates 289,000 440,000 4,670,000 750,000 1000,000 650,000 675,000 3020,000 4oo,ooo 210,000 280,000 19^,000 2000,000 Eligible paper 52,476 2,450 11,845 1,730 — 14,466 —- — 7,130 5,350 5,905 — 3,600 U.S. Govt, securities 10,8 00,000 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 SECURITIES Within 16 to 31 to 6l to 91 days to o~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 132,753 61,237 12,738 9,134 4,623 45,016 5 Industrial loans 1,846 1,077 3 29 97 126 514 U.S. Govt, securities 17,668,628 950,815 939,026 1,841,662 1,377,225 1,069,200 4,358,200 1,709,400 5,423,100 1/ After deducting $506,776,000 participations of other Federal Reserve Banks 2/ After deducting $4,508,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis