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 23, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the six-day period ended February 21, member bank reserve balances decreased $224 million. Reductions in member bank reserves resulted from a decrease of $489 million in Reserve Bank credit and increases of $26 million in money in circulation and $3 million in nonmember deposits and other Federal Reserve accounts, offset in part by decreases of $291 million in Treasury deposits with Federal Reserve Banks and $2 million in Treasury cash and an increase of $2 million in gold stock. Excess reserves of member banks on February 21 were estimated to be approximately $?60 million. Loans, discounts and advances decreased $173 million, and holdings of United States Government securities declined $156 million, reflecting decreases of $72 million in bills, $46 million in certificates, $33 million in bonds, and $5 million in notes. Changes in member bank reserve balances and related items during the six-day period ended February 21, 1950, wer-s as follows: Increase or decrease since Feb. 21, Feb. 15, Feb. 23 1950 1950 1949 (In millions of dollars) U. S. Government securities 17,625 -156 -4,733 Loans, discounts and advances 96 -173 - 208 Other Reserve Bank credit 371 -l60 + 186 Total Reserve Bank credit 18,092 -489 -4,755 Gold stock 24,345 + 2 + 55 Treasury currency 4,598 + 12 Member bank reserve balances 16,176 -224 -3,265 Money in circulation 27,019 + 26 - 532 Treasury cash 1,311 - 2 - 15 Treasury deposits with F. R. Banks 380 -291 -1,211 Nonmember deposits and other F. R. accounts 2,150 + 3 + 336 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. 21, Feb. 15, Feb. 23 1950 1950 1949 A S S E TS Gold certificates 22,582,428 - 2,002 ++ 115533,,999966 Redemption fund for F. R. notes 537,920 - 2,109 - 79,268 Total gold certificate reserves 23,120,348 - 4,111 + 74,726 Other cash 316,702 - 12,111 - 38,548 Discounts and advances 94,237 -172,309 - 208,820 Industrial loans 2,186 + 43 + 1,406 U. S. Govt, securities: Bills 3,752,924 - 71,725 --11,,555522,,998866 Certificates 6,284,350 - 46,500 - 467,419 Notes 700,600 - 5,000 + 321,550 Bonds 6,886,700 - 33,600 -3,035,062 Total U. S. Government securities 17,624,574 --115566,,882255 --44,,773333,,991177 Total loans and securities 17,720,997 -329,091 -4,941,331 Due from foreign banks 33 5 16 F. R. notes of other banks 114,511 + 3,913 - 10,938 Uncollected items 2,602,369 -593,281 + 261,710 Bank premises 34,332 + 43 + 2,097 Other assets 119,102 + 2,920 - 55,630 TOTAL ASSETS 44,028,394 -931,723 -4,707,928 L I A B I L I T I ES Federal Reserve notes 22,937,529 + 9,955 - 589,982 Deposits: Member bank-reserve account 1166,,117755,,661133 -223,923 --33,,226655,,224477 U. S. Treasurer-general account 380,187 -290,728 -1,210,921 Foreign 884,767 - 5,613 +. 134,501 Other 534,285 + 5,998 + 91,113 Total deposits 17,974,052 -514,266 -4,250,554 Deferred availability items 2,231,363 -433,607 + 75,320 Other liabilities including accrued dividends 11,244 + 1,569 4,059 TOTAL LIABILITIES 43,154,90# -936,349 -4,769,275 C A P I T AL A C C O U N TS Capital paid in 214,422 + 199 + 11,083 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) 27,543 -- -- Other capital accounts 143,268 + 4,427 + 28,802 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,026,394 -931,723 -4,707,926 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 5566..55## + .7# ++ 66..11## Contingent liability on acceptances purchased for foreign correspondents 88,,112266 ++ 554477 ++ 44,,66ll88 Commitments to make industrial loans 1,734 25 + 91 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 21, 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 22,582,428 856,713 7,247,010 1250,386 1580,049 1052,471 995,434 4304,280 682,080 476,760 845,968 647,610 2643,667 Redemption fund for F. R. notes 537,920 50,467 45,547 47,086 57,964 49,319 38,901 80,678 42,561 22,185 34,479 26,850 41,883 Total gold certificate reserves 23,120,348 907,180 7,292,557 1297,472 1638,013 1101,790 1034,335 4384,958 724,641 498,945 880,447 674,460 2685,550 Other cash 316,702 25,463 68,706 16,486 24,863 20,529 21,318 44,811 15,306 6,163 10,868 16,182 46,007 Discounts and advances 94,237 9,432 22,419 6,199 10,560 4,941 2,928 10,826 5,081 7,495 6,129 3,083 5,144 Industrial loans 2,186 1,986 1 102 97 U. S, Govt, securities: Bills 3,752,924 258,727 874,777 249,573 347,881 242,461 201,022 569,123 207,015 " 116,112 174,147 170,364 341,722 Certificates 6,284,350 433,243 1,464,831 417,916 582,533 406,007 336,615 953,010 346,651 194,431 291,612 285,278 572,223 Notes 700,600 48,299 163,304 46,591 64,943 45,263 37,527 106,244 38,646 21,676 32,510 31,804 63,793 Bonds 6.886.700 474,769 1,605,235 457,972 638,370 444,922 368,879 1044,354 379,877 213,068 319,564 312,622 627,068 Total U.S.Government securities 17,624,574 1215,038 4,108,147 1172,052 1633,727 1138,653 944,043 2672,731 972,189 545,287 813,833 800,068 1604,806 Total loans and , . ^ —^securities— l?,720,997 1224,470 4,130,566 1180,237 1644,288 1143,696 946,971 2683,557 977,270 552,879 823,962 803,151 1609,950 Due from foreign banks 33 2 l/lO 3 3 2 1 51 1 ^ 3 F.R.notes of other banks 114,511 3,592 l?,6ll 3,466 5,936 17,765 20,687 12,456 8,593 3,849 5,432 5,391 12,733 Uncollected items 2,602,369 224,344 524,677 170,825 223,846 211,669 178,801 387,511 134,469 73,684 135,503 112,551 224,489 Bank premises 34,332 1,124 . 7*856 2,976 4,919 2,468 1,519 3,6l6 2,052 1,143 2,296 713 3,650 Other assets 119,102 8,08l 27,385 7,562 11,130 7,684 6,348 17,986 7,630 3,547 5,547 5,342 10,860 TOTAL ASSETS 44,028,394 2394,256 12,066,368 2679,027 3552,998 2505,603 2209,980 7534,900 1869,962 1140,211 1864,056 1617,791 4593,242 1/ After deducting $23,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1950 H.If.1(c) "" STATEMENT (in thousands of dollars) Phila. Cleve. Rich.. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas SanFran, L I A B I L I T I ES Total Boston Hew York 1603,941 2011,880 1527,861 1261,046 4436,797 1060,628 604,594 904,137 614,775 2295,94C Federal Reserve notes 22,937*529 1370#848 5,24$,082 Deposits: . 742,658 1160,221 667,803 687,648 2501,702 577,717 399,479 740,364 787,859 1883,91: Member bank-reserve acct. l6,175,613 678,960 5,347,289 U.S. Treasurer - general acct .380,187 25,717 36,994 32,570 25,786 31,798 34,450 41,704 30,681 29,897 28,071 37,747 24,772 Foreign 884,767 55,409 1/281,410 70,360 80,034 43,975 36,939 121,371 31,662 21,988 32,5^1 30,783 78,295 Other 534,285 2,350 469,174 1,286 4,341 2,509 2,671 2,071 8,135 2,084 1,822 4,501 33,3^3 Total deposits 17,974,852 762,436 6,134,867 846,874 1270,382 746,085 761,708 2666,848 648,195 453,448 802,798 860,890 2020,32] Deferred availability items 2,231,363 204,305 423,463 159,257 189,404 184,930 148,011 308,953 125,980 58,087 122,656 108,690 197,621 Other liabilities including accrued dividends 11,244 689 3,515 556 1,234 549 475 1,862 440 345 393 479 701 TOTAL LIABILITIES 43,154,988 2338,278 11,806,927 2610,628 3472,900 2459,425 2171,240 ?4l4,46o 1835,243 1116,474 1829,984 1584,834 4514,595 8,763 20,53* Capital paid in 214,422 12,079 72,949 15,305 19,898 9,396 8,572 27,332 7,120 4,863 7,616 Surplus (Section 7) 488,173 30,778 148,149 38,205 45,957 23,779 21,194 72,029 19,118 12,494 18,045 15,873 42,552 1,307 2,l4( 4,489 1,006 3,349 762 1,429 521 1,073 1,137 Surplus (Section 13b) 27,543 3,011 7,319 7,014 13,41' Other capital accounts 143,268 10,110 31,033 10,400 13,237 9,654 8,212 19,650 7,960 5,307 7,274 .TOTAL LIABILITIES AND 44,028,394 2394,256 12,066,368 2679,027 3552,998 2505,603 2209,980 7534,900 1869,962 1140,211 1864,056 1617,791 4593,245 CAPITAL ACCOUNTS Contingent liability on acceptances purchased 335 1,102 288 200 295 280 71] for foreign correspondents 8,126 503 2/2,647 639 727 399 Commitments to make 88 500 121 industrial loans 1,734 539 464 15 1424*512 5,397,422 1644,007 2089,193 1595,747 1313,955 4517,621 1101,063 613,474 929,597 657,421 2424,78: F.R. notes outstanding 23,708,795 Collateral for F.R. notes held by F.R. Agents: 4,670,000 750,000 1000,000 670,000 675,000 2950,000 400,000 210,000 280,000 204,000 2000,00 Gold certificates 14,249,000 440,000 Eligible paper 10,7 2 0 6 0 , , 3 0 0 0 2 0 110 5 0 , , 7 0 9 0 1 0 900 3, , 8 0 4 0 5 0 1 1 , 0 5 0 7 0 5 ,000 - 1 15 2 0 , , 0 0 5 0 1 0 1000,000 - 70 0 - , - 0 0 n 0 3 , 1 0 6 0 0 0 0, 000 800,000 45 6 0 , , 0 0 5 0 0 0 " 7 3 0 , 0 9 , 9 0 0 0 0 500,000 800,00 U.S. Govt, securities MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 to 31 to 6l to 91 days to 5~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 947237 S577S3 7,155 2,~Ib9 190 Industrial loans 2,186 1 — 84 9 98 1,127 196 671 U.S. Govt, securities 17,624,574 1,622,984 762,026 1,136,702 1,271,212 2,729,000 2,918,650 149,900 2,253,600 4,780,500 1/ After deducting $603,337,000 participations of other Federal Reserve Banks. 2/ After deducting $5,479,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis