H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) March 9, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 8 member hank reserve balances decreased $30 million. Reductions in member bank reserves resulted from a decrease of $91 million in Reserve Bank credit and increases of $4^ million in money in circulation, $6 million in Treasury cash, and $13 million in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $122 million in Treasury deposits with Federal Reserve Banks. Excess reserves of member banks on March 8 were estimated to be approximately $970 million. Holdings of loans, discounts and advances decreased $226 million while holdings of United States Government securities increased $89 million, the latter change reflecting increases of $72 million in bills and $53 million in certificates and a decrease of $36 million in bonds. Changes in member bank reserve balances and related items during the week and the year ended March 8, 1950 were as follows: Increase or decrease since March 8, March 1, March 9, I.95O 1950 1949 (In millions of dollars) U. S. Government securities 17,846 + 89 -3,683 90 -226 - ll4 Loans, discounts and advances 428 + 47 + 158 Other Reserve Bank credit 18,363 - 91 -3,640 Total Reserve Bank credit + 50 24,345 Gold stock 4,601 + 1 + 14 Treasury currency 16,258 - 30 -3,166 Member bank reserve balances Money in circulation 27,105 + 45 - 472 1,322 + 6 + 2 Treasury cash Treasury deposits with F. R. Banks 433 -122 - 278 Nonmember deposits and other F. R• accounts 2,193 + 13 + 339 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 March 8, March 1, March 9, 1950 1950 1949 A S S E TS Gold certificates 22,582,430 «• 1 + 149,002 Redemption fund for F. R. notes 537,921 + 1 - 75,853 Total gold certificate reserves 23,120,351 + 73,149 Other cash 286,868 - 24,411 - 60,136 Discounts and advances 87,287 -226,213 - 115,674 Industrial loans 2,467 + 56 + 1,712 U. S. Govt, securities: Bills 3,944,724 + 71,500 -1,072,779 Certificates 5,835,050 + 53,600 - 598,719 Notes 1,262,500 + 921,450 Bonds 6,803,600 - 36,100 -2,933,177 Total U. S. Government securities 17,845,874 + 89,000 -3,683,225 Total_loansandsecurities 17,935,628 -137,157 -3,797,187 Due from foreign banks 33 16 F. R. notes of other banks 107,973 + 1,424 - 11,408 Uncollected items 2,495,734 -234,575 + 98,998 Bank premises 34,254 + 9 + 2,071 Other assets 122,243 + 4,265 50,020 TOTAL ASSETS 44,103,084 -390,445 -3,744,549 L I A B I L I T I ES Federal Reserve notes 22,994,615 + 25,849 - 533,099 Depositsj Member bank-reserve account 16,257,745 - 29,979 -3,165,998 U. S. Treasurer-general account 432,992 -121,867 - 277,831 Foreign 897,737 + 12,741 + 152,793 Other 556,591 - 2,321 + 78,975 Total deposits 18,145,665 —141,426 -3,212 ,061 Deferred availability items 2,068,247 -281,334 - 58,296 Other liabilities including accrued dividends n,4i7 + 1,452 415 TOTAL LIABILITIES 43,219,344 -395,459 -3,003,871 C A P I T AL A C C O U N TS Capital paid in 214,701 + 61 + 11,161 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) 27,543 Other capital accounts 153,323 + 4,953 + 26,699 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,103,084 -390,445 -3,744,549 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.2# + + h,9% Contingent liability on acceptances purchased for foreign correspondents 7,723 141 + 4,089 Commitments to make industrial loans 1,099 70 1,513 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 MARCH 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 22,582,430 863,402 7,243,584 1235,133 1599,895 1077,121 1022,632 4304,432 692,314 465,478 850,161 650,016 2578,262 Redemption fund for F. R. notes 537,921 50,46? 45,54? >7,086 57,965 49,319 38,901 80,678 42,561 22,185 34,479 26,850 41,883 Total gold certificate reserves 23,120,351 913,869 7,289,131 1282,219 1657,860 1126,440 1061,533 4385,110 734,875 487,663 884,640 676,866 2620,145 Other cash 286,868 23,247 67,729 17,808 22,383 17,171 20,367 36,230 11,754 5,819 10,241 13,448 40,671 Discounts and advances 87,287 8,305 22,708 4,519 9,456 5,091 2,090 11,269 2,587 1,810 4,961 1,593 12,898 Industrial loans 2,467 2,263 1 107 96 U* S. Govt, securities: Bills 3,944,724 271,949 919,484 262,328 365,660 254,853 211,295 598,209 217,595 122,046 183,047 179,071 359,187 Certificates 5,835,050 402,269 1,360,102 388,038 540,885 376,980 312,549 884,874 321,867 180,531 270,763 264,882 531,310 Notes 1,262,500 87,037 294,279 83,957 117,029 81,565 67,624 191,456 69,641 39,060 58,584 57,311 114,957 Bonds 6,803,600 469,040 1,585,865 452,446 630,667 439,553 364,428 1031,752 375,293 210,497 315,708 308,849 619,502 Total U.S.Government securities 17,845,874 1230,295 4,159,730 1186,769-1654,241 1152,951 955,896 2706,291 984,396 552,134 828,102 810,113 1624,956 Total loans and securities: 17,935,628 1238,600 4,182,438 1193,551 1663,698 1158,149 957,986 2717,560 986,983 554,040 833,063 811,706 1637,854 Due from foreign banks 33 2 1/ 10 3 3 2 1 5 1 1 1 13 F.R.notes of other banks 107,973 3,219 17,981 4,244 4,632 15,995 15,912 15,119 7,192 2,742 5,241 4,388 11,308 Uncollected items 2,495,734 192,758 437,052 169,559 212,835 186,298 193,158 425,964 138,919 73,070 150,855 112,894 202,372 Bank premises 34,254 1,120 7,836 2,975 4,910 2,473 1,516 3,594 2,037 1,140 2,298 710 3,645 other assets 122,243 8,325 27,822 7,841 11,42? 7,882 6,520 18,580 7,791 3,654 5,683 5,377 11,341 TOTAL ASSETS 44,103,084 2381,140 12,029,999 2678,200 3577,748 2514,4l0 2256,993 7602,162 1889,552 1128,129 1892,022 1625,390 4527,339 l/ After deducting $23,000 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 MARCH 8, 1950 a.U.i(c) (In thousands of dollars) L. I A B I L IT I BS Total Boston New York Phila. Cleve. Rich. Atlanta Chicagp St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes 22,994,615 1369,694 5,237,313 1601,824 2017,048 1535,918 1274,046 14+36,330 1065,170 608,797 915,422 622,328 2310,725 Deposits* Member bank-reserve acct. 16,257*745 690,891 5,293,471 754,061 1185,079 684,032 712,319 2566,217 599,591 386,378 760,971 807,963 1816,772 U.S.Treasurer-general acct. Ij.32,992 32,032 86,879 36,655 36,368 34,648 32,233 38,823 28,155 36,281 21,539 25,528 23,801 Foreign 897,737 56,039 1/287,738 71,160 80,945 44,475 37,359 122,751 32,022 22,238 32,693 31,133 79,184 Other 556,591 3,625 491,303 2,545 4,517 3,898 2,623 2,874 6,571 1.100 1,340 1,682 34,513 Total deposits 13,145,065 782,637 6,159,391 864,421 1306,909 767,053 784,534 2730,665 666,339 445,997 816,543 866,306 1954,270 Deferred availability items 2,068,247 171,335 368,533 142,180 171,506 l61j.,009 158,593 311,347 122,277 48,755 125,068 102,912 181,732 Other liabilities including accrued dividends 11,417 801 2,977 645 1,271 634 509 1,929 458 553 414 424 802 TOTAL LIABILITIES 43,219,344 2324,467 11,768,214 2609,070 3496,734 2467,614 2217,682 7480,271 1854,2144 1104,102 1857,447 1591,970 4447,529 Capital paid in 214,701 12,084 72,967 15,328 19,901 9,415 8,592 27,313 7,123 4,869 7,650 8,774 20,685 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 Surplus (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,l4o Other capital accounts 153.323 10.800 33,350 11,108 14.150 10,253 8,763 21,120 8,546 5,591 7,743 7,466 14,433 TOTAL LIABILITIES AND .CAPITAL ACCOUNTS 44,103,084 2381,140 12,029,999 2678,200 3577,748 2514,4io 2256,993 7602,162 1889,552 1128,129 1892,022 1625,390 4527,339 Contingent liability on acceptances purchased for foreign correspondents 7,723 487 2/2,425 618 703 386 324 1,066 278 193 286 270 687 Commitments to make industrial loans 1,099 — — 1)04 446 13 — 112 —— F.R. notes outstanding 23,751,997 1416,592 5,405,630 1648,468 2089,943 1601,326 1326,789 4513,064 1110,123 618,913 938,078 656,025 2427,041 Collateral for F.R. notes held by F.R. Agents: Gold certificates 14,149,000 440,000 4,670,000 750,000 1000,000 670,000 675,000 2950,000 400,000 210,000 280,000 204,000 1900,000 Eligible paper 32,182 5,546 8,655 1,015 — 2,901 — — 1,010 715 3,340 — 9,000 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 LOANS AND SECURITIES Within l6 to 31 to 61 to 91 days to 6 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 87,287 44,382 3,865 2,500 36,540 — Industrial loans 2,467 5 92 13 61 187 1,152 280 677 U.S. Govt, securities 17,845,874 1,122,492 775,561 997,051 2,1(46,620 1,892,700 2,948,650 711,800 2,253,600 4,697,400 l/ After deducting $609,979,000 participations of other Federal Reserve Banks. 2/ After deducting $5,298,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis