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 15, 194j CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 14 ..number bank reserve balances increased $142,000, (XV). Additions to member bank reserves resulted from an increase of $103,000,000 in Reserve Bank credit and a decrease of $48,fX)0,C00 in Treasury deposits with Federal Reserve Banks, offset in part by increases of $5,000,000 in Treasury cash, $2,000,000 in money in circulation, and $2,000,000 in nonmember de posits and other Federal Reserve accounts. Excess reserves of member banks on December l4 were estimated to be approximately $92^,000,000. Holdings of loans, discounts and advances decreased $300,000,000 while holdings of United States Government securities increased $238,OCO OCO, the latter ; change reflecting increases of $209,000,000 in bills and $29,000,000 In certifi cates. Changes in member bank reserve balances and related items during the week and the year ended December 14, 19^9 were as follows: Increase or decrease since Dec. 14-, Dec. 7, Dec, IS, 19^9 19^9 19W (In millions of dollars) U. S. Government securities 18,169 +238 -k ,*2k Loans, discounts and advances 109 -300 «. l^B Other Reserve Bank credit 453 +166 - 205 Total Reserve Bank credit 18,731 +103 ~s ,1&* Gold stock 24,476 - 1 + 2^6 Treasury currency 4,596 + 11 Member bank reserve balances 16,433 +142 .4, ."02 Money in circulation 27,701 + 2 _ Treasury cash l,3l'+ + 5 - 13 Treasury deposits with F. R. Banks 393 - 48 - ~7ft Kormieiriber deposits and other F. R, accounts 1,963 + 2 + 3:? a Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.h.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease siL nce Dec. 14, Dec. 7, Dec. 15, 1949 1949 1948 A S S E TS Gold certificates 22,672,432 - 1,999 + 343,002 Redemption fund for F. R. notes 553,794 - 6 - 76,698 Total gold certificate reserves 23,226,226 - 2,005 + 266,304 Other cash 218,479 5,389 12,570 Discounts and advances 107,188 _ 300,025 - 159,405 Industrial loans 1,955 + M + 1,067 U. S. Govt, securities: Bills 4,374,797 + 209,250 - 753,069 Certificates 5,983,900 + 28,500 + 44,781 Notes 298,100 - 515,850 Bonds 77,,551122,,330000 -3,600,153 Total U. S. Government securities 18,169,097 + 237,750 -4,824,291 Total loans and securities 18,278,240 _ 62,228 -4,982,629 Due from foreign banks 39 + 4 10 F. R. notes of other banks 132,535 + 18,690 5,629 Uncollected items 3,258,018 + 819,215 - 330,585 Bank premises 33,373 + 111 + 1,094 Other assets 156,713 + 5,429 •f 12,95,3 TOTAL ASSETS 45,303,623 + 773,827 -5,051,072 L I A B I L I T I ES Federal Reserve notes 23,520,023 + 19,216 - 689,308 Deposits: Member bank-reserve account 16,432,656 + 141,648 -4,002,491 U. S. Treasurer-general account 393,086 - 47,6o4 - 576,125 Foreign 765,941 + 1,812 + 234,781 Other 506,608 - 4l8 + 43,886 Total deposits 18,098,291 + 957^38" -4,299,949 Deferred availability items 2,805,071 + 653,553 - 125,440 Other liabilities including accrued dividends 14,680 + 1,225 145 TOTAL LIABILITIES 44,438,265 + 769,432 -5,114,842 C A P I T AL A C C O U N TS Capital paid in 208,453 + 426 + 7,648 Surplus (Section 7) 466,711 — + 18,522 Surplus (Section ljb) 27,543 — — Other capital accounts 162,651 + 3,969 + 37,600 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,303,623 ~ 773/8W -5,051,072 •>- Ratio of gold certificate reserves to deposit -nd F. R. note liabilities combined 55 • % 6.5$ Contingent liability on acceptances purchased far foreign, correspondents 10,599 + 886 7,238 Conjrdtrr.oTiV.B to roaltf* jnd-n^-hvial loans 2,2^3 15 3,819 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 ll+, 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 22,672,1+32 854,366 7,305,810 1196,954 1577,236 106i+,l+75 991,01+6 1+383,81+8 699,505 435,102 781,773 678,1+73 2703,81+1+ Redemption fund for F. R. notes 553,794 51,4l8 49,736 1+8,915 59,127 52,Ql+7 39,851 £2,957 42,929 22,338 34,766 27,142 1+2,568 Total gold certificate reserves 23,226,226 905,781+ 7,355,546 121+5,869 1636,363 1116,522 1030,897 41+66,805 7^2,1+34 457,440 8l6,539 705,615 2746,412 Other cash 218,479 22,398 35,838 8,858 18,177 15,78l 18,625 28,446 14,727 5,826 9,793 11,273 28,737 Discounts and advances 107,188 7,692 33,318 8,782 13,796 7,855 3,l65 10,365 7,103 1,812 4,558 2,468 6,274 Industrial loans 1,955 --- — 1,804 1 98 --- --- -— 52 U. S. Govt, securities: Bills 4,374,797 301,809 1,036,783 298,002 403,492 280,849 234,546 652,794 236,423 141,625 211,600 189,232 387,642 Certificates 5,983,900 4l2,8l8 l,4l8,124 407,612 551,901 384,149 320,815 892,899 323,381 193,717 289,429 258,834 530,221 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 securitiee 18,169,097 1253,450 4,305,894 1237,643 1675,754 1166,402 974,100 2711,138 981,894 588,188 878,803 785,904 1609,927 Total loans and securities 18,278,240 126l,l42 4,339,212 1248,229 1689,551 1174,355 977,265 2721,503 988,997 590,052 883,361 788,372 1616,201 Due from foreign banks 39 3 l/ 12 3 4 2 2 5 1 1 1 1 4 F.R.notes of other banks 132,535 5,456 23,694 3,883 5,843 14,796 14,271 17,167 8,160 3,922 7,525 7,677 20,l4l Uncollected items 3,258,018 275,365 599,123 204,123 291,526 284,938 222,277 518,586 179,618 85,893 185,134 147,622 263,813 Bank premises 33,373 1,134 7,891 2,992 4,715 2,482 1,527 3,356 1,940 1,148 2,318 720 3,150 Other assets 156,713 10,862 36,745 10,305 14,601 9,960 8,363 23,687 9,542 4,883 7,440 6,6ll 13,7.14 TOTAL ASSETS 45,303,623 2482,144 12,398,061 2724,262 3660,780 2618,836 2273,227 7779,555 1945,419 1149,165 1912,111 1667,891 4692,172 l/ After deducting $27,000 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 DECEMBER 14, 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 23,520,023 1405,137 5,403,085 1638,482 2057,592 1590,724 1294,281 4493,008 1096,265 611,785 919,226 647,150 2363,288 Deposits: Member bank-reserve acct. 16,432,656 708,302 5,480,959 754,171 1171,142 665,711 660,445 2598,376 598,036 390,304 744,267 790,853 1870,090 U.S.Treasurer-general acct. 393,086 27,135 50,077 28,996 31,477 26,641 29,824 46,284 22,423 29,438 23,644 35,342 41,755 Foreign 765,941 47,754 1/247,450 6o,64o 69,736 37,142 31,078 I04,6o4 27,288 18,950 27,288 26,530 67,481 Other 505,608 3,869 434,371 4,£91 7,488 3,514 744 2,455 5,986 1,394 1,231 1,327 39,938 Total deposits 18,0 98,291 787,110 6,212,857 848,098 1279,843 733,008 722,091 2751,719 653,733 440,086 796,430 854,052 2019,264 Deferred availability items 2,8 05,071 233,221 520,463 168,611 242,396 248,553 217,903 413,411 160,483 73,392 162,138 133,727 230,773 Other liabilities including accrued dividends iK 842 4,221 927 1,591 800 662 2,388 589 451 512 582 1,315 TOTAL LIABILITIES 44,4 38 265 2426,310 12,140,626 2656,118 3581,422 2573,085 2234,937 7660,526 1911,070 1125,714 1878,306 1635,511 46l4,64o ; Capital paid in 208^453 11,937 71,081 15,080 19,404 9,159 8,202 26,291 6,847 4,580 7,308 8,402 20,112 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 162,651 11,439 36,016 11,871 14,980 10,826 9,298 22,467 9,007 6,001 8,352 7,717 14,627 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 45,303,623 2482,144 12,398,061 2724,262 3660,780 2618,836 2273,227 7779,555 1945,419 1149,165 1912,111 1667,891 4692,172 Contingent liability on acceptances purchased for foreign correspondents 10,599 663 _2/3,349 848 975 519 434 1,463 382 265 382 371 943 Conmitments to mke industrial los:i& 2,243 744 826 15 --- 54 500 --- --- — 104 F.R. notes outsxaiidi "g 24, 307,759 1447,532 5,582,689 1682,942 2138,750 1639,966 1354,263 4586,159 1134,351 624,746 950,619 684,472 2481,270 Collateral for F.R. notes held by F.R. Agents: Gold certificates 319,000 440,000 4,670,000 750,000 1000,000 670,000 675,000 3020,000 400,000 210,000 280,000 204,000 2000,000 Eligible paper 23,718 3,250 6,290 3,142 — 4,401 '— — 4,565 50 '2,020 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 bl to 91 days to omonths 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 107,18b 39,622 ~4733b~ b,005 55,211 9 5 Industrial loans 1,955 1,181 1 4 12 28 96 126 507 U.S. Govt, securities 18,169,097 1,293,235 1,455,453 1,479,225 1 1 , , 8 8 7 7 3 3 , , 6 6 8 8 4 4 1,387,700 3,548,300 — 1,709,400 5,422,100 1/ After deducting $518,472,000 participations of other Federal Reserve Banks. 2/ After deducting $7,250,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis