H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) December 8, 19^9 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 7 member bank reserve balances increased $253,000,000. Additions to member bank reserves resulted from an increase of $361,000,000 in Reserve Bank credit and decreases of $76,000,000 in Treasury deposits with Federal Reserve Banks and $8,000,000 in Treasury cash,offset in part by a decrease of $2,000,000 in gold stock and increases of $157,000,000 in money in circulation and $3^,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on December 7 were estimated to be approximately $920,000,000. Holdings of loans, discounts and advances increased $86,000,000 and of United States Government securities $2^9,000,000, The change in holdings of United States Government securities reflects increases of $166,000,000 in bills and $84,000,000 in certificates and a decrease of $1,000,000 in bonds. Changes in member bank reserve balances and related items during the week and the year ended December 7> ^-9^9 were as follows: Increase ? or decrease since Dec. 7, Nov. 30, Dec. 8, 19^9 19^9 19^8 (In millions of dollars) U. S. Government securities 17,931 +2^9 -5,073 Loans, discounts and advances 1+09 + 86 + 9 Other Reserve Bank credit 287 + 26 - 36 Total Reserve Bank credit 13,628 +36l -5,099 Gold stock 2k,krJTJ - 2 + 259 Treasury currency ^,596 + 1 + 11 Member bank reserve balances 16,291 +253 -3A36 Money in circulation 27,699 +157 - 716 Treasury cash 1,309 - 8 5 Treasury deposits with F. R. Banks kkl - 76 -1,099 Nonmember deposits and other F. R. accounts + 3^ + 427 1,961 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION HA.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Dec. 7, Nov. 30, Dec. 8, 1949 1948 A S S E TS Gold certificates 22,674,431 3,000 + 342,000 Redemption fund for F. R. notes 553,800 685 - 74,460 Total gold certificate reserves 23,228,231 37685 + 2b7,540 Other cash 223,868 13,566 - 3,913 Discounts and advances 407,213 + 85,629 + 7,741 Industrial loans 1,908 + 63 + 983 U. S. Govt, securities: Bills 4,165,547 + 165,619 - 891,313 Certificates 5,955,4oo + 84,500 - 92,719 Notes . 490,850 298,100 Bonds 1,000 -3,597,286 7,512,300 Total U. S. Government securities 17,931,347 + 249,119 -5,072,168 Total loans and securities 18,340,468 + 334,813 -5,063,444 Due from foreign banks 35 — - 14 F. R. notes of other banks 113,845 - 5,346 - 10,019 Uncollected items 2,438,803 - 58,681 - 137,922 Bank premises 33,262 + 196 + 999 Other assets 151,284 + 4,230 - 79,867 TOTAL ASSETS 44,529,796 + 257,961 -5,026,640 L I A B I L I T I ES Federal Reserve notes 23,500,807 + 127,311 - 737,353 Deposits: Member bank-reserve account 16,291,008 + 252,886 - 3,435,877 U.S. Treasurer-general account 440,690 - 76,146 - 1,099,000 Foreign 764,129 + 38,032 + 252,214 Other 507,026 4,783 + 33,129 Total deposits 18,002,853 + 209,989 -4,249,534 Deferred availability items 2,151,518 _ 84,564 - 102,515 Other liabilities including accrued dividends ,13,655 + 1,032 3,238 TOTAL LIABILITIES 43,668,833 + 253,768 -5,092,640 C A P I T AL A C C O U N TS Capital paid in 208,027 3I18 + 7,740 Surplus (Section 7) 466,711 + 18,522 Surplus (Section 13b) 27,543 Other capital accounts + 3,845 + 39,738 158,682 TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 257,961 -5,026,640 44,529,796 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.0$ 6.6% Contingent liability on acceptances purchased for foreign correspondents 9,713 + 1,380 + 7,840 CoTam.i.trr.o.ti.tB t.o n>n>« Industrial loan s 2,258 + 440 - 3,757 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 DECEMBER 7, 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 22,674,431 867,553 7,137,169 1209,770 1573,635 1068,788 1017,549 4389,420 717,584 446,231 785,295 710,856 2750,581 Redemption fund for F. R. notes 553,800 51,509 50,134 47,099 59,247 52,845 39,937 83,118 42,961 22,351 34,791 27,183 42,625 Total gold certificate reserves 23,228,231 919,062 7,187,303 1256,869 1632,882 1121,633 1057,486 4472,538 760,545 468,582 820,086 738,039 2793,206 Other cash 223,868 22,145 43,301 10,267 19,449 15,921 15,639 28,532 13,493 4,8o6 10,038 11,767 28,510 Discounts and advances 407,213 9,292 273,258 7,982 35,54l 14,785 6,566 11,550 15,378 8,812 15,308 2,467 6,274 Industrial loans 1,908 --- -— 1,753 1 102 — --- — 52 U. S. Govt, securities: Bills 4,165,547 287,373 987,193 283,749 384,193 267,416 223,327 621,570 225,114 134,851 201,479 180,181 369,101 Certificates 5,955,^00 410,852 l,4il,370 405,669 549,272 382,319 319,287 888,647 321,842 192,795 288,050 257,601 527,696 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 7,512,300 518,258 1,780,340 511,723 692,867 482,267 402,757 1120,963 405,980 243,196 363,355 324,944 665,650 Total U.S.Government securities 17,931,347 1237,048 4,249,550 1221,447 1653,826 1151,139 961,353 2675,662 969,046 580,492 867,303 775,620 1588,861 Total loans and securities 18,340,468 1246,340 4,522,808 1231,182 1689,368 1166,026 967,919 2687,212 984,424 589,356 882,611 778,087 1595,135 Due from foreign banks 35 2 1/ 11 3 3 2 2 5 1 1 1 1 3 F.R.notes of other banks 113,84-5 4,451 20,937 3,398 5,202 13,752 9,522 15,923 6,517 4,682 5,596 5,673 18,192 Uncollected items 2,438,803 193,701 437,631 155,255 196,869 231,384 170,041 390,232 140,643 72,755 137,047 112,984 200,261 Bank premises 33,262 1,134 7,891 2,992 4,721 2,482 1,527 3,322 1,940 1,148 2,318 720 3,067 Other assets 151,284 10,426 35,121 9,969 14,377 9,575 8,092 22,956 9,235 ^,769 7,133 6,393 13,238 TOTAL ASSETS 44,529,796 2397,26l 12,255,003 2669,935 3562,871 2560,775 2230,228 7620,720 1916,798 1146,099 1864,830 1653,664 4651,612 l/ After deducting $24,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 7, 1949 (in thousands of dollars) T,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 23,500,807 1398,909 5,399,823 1632,258 2044,693 1585,381 1296,392 4494,271 1093,647 613,942 923,582 650,080 2367,829 Deposits: Member bank-reserve acct. 16,291,008 685,130 5,471,984 733,675 1158,038 655,331 660,447 2514,974 601,372 396,725 723,308 813,448 1876,576 U.S.Treasurer-general acct. 440,690 30,964 60,753 38,484 28,472 31,595 39,274 5^,392 24,252 26,557 30,068 29,452 46,427 Foreign 764,129 47,760 1/245,568 60,648 69,745 37,147 31,082 104,618 27,292 18,953 27,292 26,534 67,490 Other 507,026 4,188 436,759 4,431 7,572 2,033 1,847 2j_lll 6,858 1,298 1,970 701 37,258 Total deposits 18,002,853 768,042 6,215,064 837,238 1263,827 726,106 732,650 2676,095 659,774 443,533 782,638 870,135 2027,751 Deferred availability items 2,151,518 174,121 379,795 131,75^ 173,685 203,062 162,518 329,864 128,707 64,898 124,599 100,752 177,763 Other liabilities including accrued dividends 850 3,937 819 1,687 __ 719 590 2,053 525 4o8 466 492 1,109 TOTAL LIABILITIES 43,668,833 2341,922 11,998,619 2602,069 3483,892 2515,268 2192,150 7502,283 1882,653 1122,781 1831,285 1621,459 4574,452 Capital paid in 208,027 11,849 70,948 15,068 19,363 9,158 8,198 26,248 6,843 4,579 7,307 8,386 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 4o,653 Surplue (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,i4o Other capital accounts 158,682 11,132 35,098 11,605 14,642 10,583 9,090 21,918 8,807 5,869 8,093 7,558 14,287 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,529,796 2397,261 12,255,003 2669,935 3552,871 2560,775 2230,228 7620,720 1916,798 1146,099 1864,830 1653,664 4651,612 Contingent liability on acceptances purchased for foreign correspondents 9,713 612 2/3,069 777 894 476 398 i,34o 350 243 350 340 864 CoTmitmarits to make industrial loans 2,258 799 827 15 — 13 500 — -— — 104 S\I%, notes c*jtst&Ki£&S5@ 2k, 227,209 1^,99^ 5,56o,6V? 1680,191 2129,590 1630,458 1351,258 4582,054 1128,893 622,655 948,227 684,417 2472,725 Collateral for F.R. notes held by F.R. Agents: Gold certificates 14,299,000 44o,ooo 4,676,000 750,000 1000,000 650,000 675,000 3020,000 400,000 210,000 280,000 204,000 2000,000 Eligible paper . 301,063 4,850 249,880 2,342 — 11,331 --- — 12^840 7,050 12,770 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 SECURITIES Within l£ to 31 to 6l to 91 days to 6~ months 1 to 2 2 to 5 Over Total 15 daye 30 days 60 days 90 days 6 months to 1 year year s yeare 5 years _ Discouirte and tdvabces 40T72I3 336,530 "•87125 "57775* g 5 Industrial loans 1,908 1,130 1 4 29 99 142 491 12 U.S. Govt, securities 17,931,347 1,281,992 1,467,328 1,353,409 1,387,700 3,548,300 1,709,400 5,422,100 1,761,118 1/ After deducting $518,541,000 participations of other Federal Reserve Banks 2/ After deducting $6,644,000 participations of other Federal Reeerv* Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis