H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) February 9, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 8 member bank reserve balances decreased $267 million. The reduction in member bank reserves resulted from decreases of $474 million in Reserve Bank credit and $50 million in gold stock and an increase of $57 million in money in circulation, offset in part by decreases of $271 million in Treasury deposits with Federal Reserve Banks, $40 million in nonmember deposits and other Federal Reserve accounts and $5 million in Treasury cash. Excess reserves of member banks on February 8 were estimated to be approximately $820 million. Holdings of loans, discounts and advances decreased $233 million and of United States Government securities $199 million, the latter change reflecting decreases of $134 million in bonds, $58 million in bills and $27 million in certificates, and an increase of $20 million in notes. Changes in member bank reserve balances and related items during the week and the year ended February 8, 1950 were as follows: Increase or decrease since 8, Feb. Feb. 1, Feb. 9, 1950 1950 1949 (In millions of dollars) U. S. Government securities 17,656 -199 -4,694 Loans, discounts and advances 225 -233 - 27 Other Reserve Bank credit 265 - 42 + 31 Total Reserve Bank credit 18,146 -474 .4,690 Gold stock 24,345 - 50 + 66 Treasury currency 4,598 - 1 + 11 -267 Member bank reserve balances 16,265 -3,332 26,985 Money in circulation + 57 - 572 Treasury cash 1,313 - 5 - 14 Treasury deposits with F. R. Banks 366 -271 -1,064 Nonmember deposits and other F. R. accounts 2,159 - 40 + 369 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 Feb. 8, Feb. 1, Feb. 9, 1950 1950 1949 A S S E TS Gold certificates 22,584,^31 - 36,001 + 166,000 Redemption fund for F. R. notes 540,030 - 3,213 - 83,349 Total gold certificate reserves 23,124,461 - 39,214 + 82,651 Other cash 333,040 - 31,083 - 24,021 223,296 -232,416 - 27,859 Discounts and advances 2,122 12 + 1,318 Industrial loans U. S. Govt, securities: Bills 3,703,972 - 57,710 -1,583,069 Certificates 6,305,350 - 27,000 - 262,919 Notes 677,500 + 19,700 + 287,950 6,968,900 -134,400 -3,136,225 Bonds Total U. S. Government securities 17,655,722 -199,410 _4,694,263 Total loans and securities 17,881,140 -431,838 -4,720,804 11 Due from foreign banks 38 F. R. notes of other banks 116,761 - 13,369 - 24,293 Uncollected items 2,404,124 -144,374 + 71,795 Bank premises 34,295 + 166 + 2,034 Other assets 111,453 + 1,380 - 52,885 TOTAL ASSETS 44,005,312 -658,332 -4,665,534 L I A B I L I T I ES Federal Reserve notes 22,929,355 + 18,173 - 629,367 Deposits: Member bank-reserve account 16,265,341 -266,263 -3,331,571 U. S. Treasurer-general account 366,070 -270,746 -1,064,360 Foreign 904,273 - 12,750 + 186,047 Other 527,896 - 33,354 + 70,481 Total deposits 10,063,500 -503,H3 -4,139,403 Deferred availability items 2,139,636 -101,695 + 41,362 Other liabilities including accrued dividends 8,799 + 550 2,003 TOTAL LIABILITIES 43,141,370 -666,085 -4,729,411 C A P I T AL A C C O U N TS + 11,086 Capital paid in 214,077 138 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) 27,543 Other capital accounts 134,149 + 7,615 + 31,329 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,005,312 -650,332 -4,665,534 Ratio of gold certificate reserves to deposit 6.0# and F. R. note liabilities combined 56.4# .7# Contingent liability on acceptances purchased for foreign correspondents 7,529 1,017 + 4,173 Commitments to make industrial loans 1,799 62 + 63 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 FEBRUARY 8, 1950 (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 22,584,431 843,787 7,244,131 1225,412 1556,523 1051,648 1010,883 4330,872 688,128 471,083 849,791 649,979 2662,194 Redemption fund for F. R. notes 540,030 50,661 46,335 47,424 58,179 49,174 39,072 80,914 42,628 22,211 34,533 26,903 41,996 Total gold certificate 676,882 2704,190 reserves 23,124,461 894,448 7,290,466 1272,836 1614,702 1100,822 1049,955 4411,786 730,756 493,294 884,324 Other cash 333,040 30,958 62,755 22,367 25,865 21,008 22,067 50,305 15,747 5,983 11,888 16,431 47,666 Discounts and advances 223,296 10,182 76,440 5,594 28,126 9,996 4,741 52,408 5,305 3,232 9,259 2,136 15,877 Industrial loans 2,122 1,919 1 103 99 U. S. Govt, securities B C i e l r l t s if icates ' 6 3 , , 3 7 0 0 5 3 , , 3 9 5 7 0 2 2 4 5 3 5 4 , , 3 6 5 9 2 1 1, 8 46 6 9 3 , ,3 7 6 2 6 7 2 4 4 1 6 9 , ,3 3 1 1 2 8 3 5 4 8 3 4 , , 3 4 4 8 3 1 2 4 3 07 9 , , 3 2 6 9 3 9 1 3 9 3 8 7 , ,7 4 3 0 9 0 5 9 6 5 1 6 , , 7 1 0 9 0 4 2 3 0 4 4 7 , , 3 8 1 0 5 9 1 1 1 9 4 5 , , 5 0 9 8 7 2 1 2 7 9 1 2 , ,5 8 8 7 7 5 2 16 8 8 6 , ,2 1 3 4 2 2 5 3 7 3 4 7 , ,2 1 6 3 5 3 Notes 677,500 46,707 157,920 45,054 62,801 43,771 36,290 102,741 37,372 20,961 31,438 30,755 61,690 Bonds 6,968,900 480,435 1,624,395 463,439 645,990 450,233 373,282 1056,820 384,411 215,610 323,378 316,353 634,554 T° S ^ t ; SY e r m e nt 17,655,722 1217,185 4,115,408 1174,123 1636,615 1140,666 945,711 2677,455 973,907 546,250 819,278 801,482 1607,642 1227,367 1181,636 1150,765 2729,863 979,212 549,581 828,537 803,618 1623,519 securities 17,881,140 4,191,848 1664,742 950,452 I s ^ ll 1 it 11 1111111:111 4 4 4 4 2358,002 3539,284 2509,048 7606,605 1870,162 1128,329 1872,294 1628,766 TOTAL ASSETS 44,005,312 12,021,699 2647,603 2222,229 4601,291 l/ After deducting $26,000 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 ON FEBRUARY 8, 1950 H.4»l(c) (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran. Federal Reserve notes 22,929,355 1361,368 5,232,823 1596,691 2008,034 1534,375 1267,959 14+26,323 1064,318 604,847 907,704 619,831 2305,082 Deposits: Member bank-reserve acct. 16,265,34l 684,394 5,321,667 753,715 1151,777 668,837 692,430 2567,945 594,933 390,545 755,520 791,843 1891,735 U.S.Treasurer-general acct, 366,070 23,626 75,257 24,828 23,011 21,447 22,488 43,918 20,231 25,931 18,432 36,673 30,228 Foreign 9024.# 2 73 56,662 1/287,266 71,952 81,845 44,970 37,775 124,117 32,378 22,485 33,278 31,479 80,066 Other 527,896 2,886 465,849 1,405 4,782 2,505 667 1,890 7,179 1.685 1,862 790 36,596 Total deposits 18,063,580 767,568 6,150,039 851,900 1261,415 737,759 753,360 2737,, 870 654,721 440,646 809,092 860,785 2058,425 Deferred availability items 2,139,636 173,088 379,228 130,714 189,666 190,808 162,276 321,782 116,508 59,065 121,521 115,331 179,649 Other liabilities including accrued dividends 8,799 601 2,242 505 920 544 592 1,603 522 m. 31L 708 TOTAL LIABILITIES 43 ,141,370 2302,625 11,764,332 2579,810 3460,035 2463,486 2185,987 7487,578 1855,869 1104,877 1858,642 1596,265 4525,864 Capital paid in 214,077 12,072 72,910 15,285 19,882 9,370 8,51*4 27,316 7,106 4,852 7,596 8,699 20,445 Surplus (Section 7) 488,173 50,778 148,149 38,205 45,957 25,779 21,194 72,029 19,118 12,494 18,045 15,873 42,552 Surplus (Section 13b) 27,543 5,011 7,519 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 134,149 9,516 28,989 9,814 12,404 9,064 7,742 18,253 7,548 5,053 6,874 6,622 12,290 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,005,512 2358,002 12,021,699 2647,605 5559,284 2509,01$ 2222,229 7606,605 1870,162 1128,329 1872,294 1628,766 4601,291 Contingent liability on acceptances purchased for foreign correspondents 7,529 474 2/2,365 605 685 577 516 1,059 271 188 279 264 670 Commitments to make industrial loans 1,799 ,, 571 497 . 15 88 500 128 F.R. notes outstanding 25 ,764,551 1450,784 5,399,268 1646,819 2098,268 1603,945 1521,555 4528,642 1107,052 614,164 933,358 661,520 2419,576 Collateral for F.R. notes held by F.R. Agents; Gold certificates 14 ,249,000 440,000 4,670,000 750,000 1000,000 670,000 675,000 2950,000 400,000 210,000 280,000 204,000 2000,000 Eligible paper 92,732 6,446 57,820 850 — 7,051 — —— 5,170 1,750 7,065 — 8,600 U.S. Govt, securities 10 ,700,000 1100,000 900,000 1000,000 1150,000 1000,000 700,000 1600,000 800,000 450,000 700,000 500,000 800,000 MATURITY DISTRIBUTION OF LOAMS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 to 2 2 to 5 Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Discounts and advances 223,296 206,081 9,570 7,555 —m Industrial loans 2,122 1 12 65 10 10 91 1,088 185 672 U.S. Govt, securities 17,655,722 1,022,150 1,349,984 1,517,737 859,085519,051 2,729,500 2,954,150 126,800 2,253,600 4,862,700 l/ After deducting $616,989,000 participations of other Federal Reserve Banks. 2/ After deducting $5,166,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis