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 l6, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 15 member bank reserve balances increased $513 million. Additions to member bank reserves resulted from decreases of $424 million in Treasury deposits with Federal Reserve Banks, $119 million in nonmember deposits and other Federal Reserve accounts, $82 million in money in circulation and $15 million in Treasury cash, offset in part b ydecreases of $99 million in Reserve Bank credit and $25 million in gold stock. Excess reserves of member banks on March 15 were estimated to be approximately $1,370 million. Holdings of loans, discounts and advances decreased $l6 million and of United States Government securities $55 million, the latter change reflecting decreases of $189 million in bonds and $91 million in bills and increases of^ $117 million in notes and $108 million in certificates. Holdings of securities include $108 million certificates of indebtedness—special series, issued to the Federal Reserve Banks. Changes in member bank reserve balances and related items during the week and the year ended March 15, 195° were as follows: Increase or decrease since March 15, March 8, March 16, 1950 1950 1949 (In millions of dollars) U. S. Government securities 17,791 - 55 -3,709 Loans, discounts and advances 74 - 16 - 356 Other Reserve Bank credit 399 - 29 - 19 Total Reserve Bank credit 18,264 - 99 -4,084 24 - 25 + 15 Gold stock 4 601 + 13 Treasury currency - - Member bank reserve balances 16,771 +513 -3,165 Money in circulation 27,023 - 82 - 477 Treasury cash 1,307 - 15 - 17 Treasury deposits with F. R. Banks 9 -424 - 582 Nonmember deposits and other F. R. accounts 2,074 -119 + 184 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.1.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Mar. 15, Mar. 8, Mar, 16, 1950 1950 1949 A S S E TS Gold certificates 22,565,430 - 17,000 + 122,001 Redemption fund for F. R. notes 536,»26 - 1,495 - 77,347 Total gold certificate reserves 23,101,056 - 18,495 + 44,654 Other cash 293,45U + 6,586 - 50,291 Discounts and advances 71,114 - 16,173 - 358,372 Industrial loans 2,499 + 32 + 1,747 U. S. Govt, securities: Bills 3,853,624 - 91,100 -1,233,729 Certificates 5,943,050 + 108,000 - 540,719 Notes 1,379,200 + 116,700 +1,038,150 Bonds 6,615,300 - 188,300 -2,972,400 Total U. S. Government securities 17,791,174 - 54,700 -3,708,698 Total loans and securities 17,864,787 - 70,841 -4,065,323 Due from foreign banks- " 33 16 F. R. notes of other banks 108,962 + 989 8,508 Uncollected items 3,205,168 + 709,434 - 72,439 Bank premises 34,381 + 127 + 2,201 Othef assets 107,168 - 15,075 - 42,214 TQTAL ASSETS 44,715,809 + 612,725 -4,191,936 L I A B I L I T I ES 22,913,328 - 81,287 - 535,969 Federal Reserve notes Deposits: Member bank-reserve account 16,771,167 + 513,422 -3,164,916 U. S. Treasurer-general account 9,224 - 423,768 - 582,247 879,703 - 18,034 + 139,914 Foreign Other 435,695 - 120,896 - 51,748 Total deposits 18,095,789 - 49,276 -3,658,997 2,806,191 + 737,944 - 53,466 Deferred availability items Other liabilities including accrued 12,014 + 597 654 dividends TOTAL LIABILITIES 43,827,322 + 607,970 -4,249,006 C A P I T AL A C C O U N TS Capital paid in 214,871 170 + 10,642 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) 27,543 Other capital accounts 157,900 + 4,577 + 25,046 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,715,809 + 612,725 -4,191,936 Jctatio of gold certificate reserves to deposit < and F. R. note liabilities combined 56.3# .1% + 5.3$ Contingent liability on acceptances purchased for foreign correspondents 7,399 324 + 2,913 Commitments to make industrial loans 1,089 10 1,498 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 15, 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 22,565,430 871,248 7,342,985 1223,185 1576,717 1034,906 992,612 4359,878 670,724 442,338 851,629 601,479 2597,729 Redemption fund for F. R. notes 536,426 50,309 44,841 46,768 57,777 49,937 38,728 80,435 42,495 22,161 34,431 26,797 41,747 Total gold certificate reserves 23,101,856 921,557 7,387,826 1269,953 1634,494 1084,843 1031,340 4440,313 713,219 464,499 886,060 628,276 2639,476 Other cash 293,454 21,288 77,198 16,225 24,606 18,479 19,598 36,688 12,690 5,153 10,267 13,196 38,066 Discounts and advances 71,114 4,265 25,630 4,679 4,799 4,386 3,927 7,562 1,898 2,008 5,305 2,891 3,764 Industrial loans 2,499 2,290 1 112 96 U. S. Govt, securities: Bills 3,853,624 265,669 898,249 256,270 357,216 248,967 206,415 584,394 212,570 119,227 178,820 174,935 350,892 Certificates 5,943,050 409,715 1,385,276 395,220 550,896 383,957 318,334 901,252 327,824 183,872 275,775 269,785 541,144 Notes 1,379,200 95,082 321,481 91,718 127,846 89,105 73,875 209,153 76,078 42,671 63,999 62,609 125,583 Bonds 6.615,300 456,058 1,541,974 439,923 613,212 427,387 354,343 1003,197 364,907 204,671 306,970 300,302 602,356 Total U.S.Government securities 17,791,174 1226,524 4,146,980 1183,131 1649,170 1149,4l6 952,967 2697,996 981,379 550,441 825,564 807,631 1619,975 T°securitiesaPd 17,864,78? 1230,789 4,172,610 1190,100 1653,970 1153,914 956,894 2705,558 983,277 552,5^5 830,869 810,522 1623,739 il 1 ill 4 il il itII il 11 "i fit TOTAL ASSETS 44,715,809 2442,821 12,288,027 2706,934 3635,955 2531,029 2255,280 7751,032 1899,006 1115,790 1894,580 1599,004 4596,351 l/ After deducting $23,000 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 MARCH 15, 1950 (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 22,913,328 1367,739 5,217,585 1596,329 2011,760 1527,881 1271,114 4429,354 1062,112 606,771 910,179 615,508 2296,996 Deposits: Member bank-reserve acct. 725,101 5,641,472 780,053 1208,634 678,022 700,913 2623,656 595,289 388,668 779,878 791,212 1858,269 U.S.Treasurer-general acct. 9,224 731 764 623 1,401 526 840 897 679 492 759 583 929 Foreign 879,703 55,037 _l/280,395 69,888 79,497 43,680 36,691 120,557 31,450 21,840 32,323 30,576 77,769 Other 435,695 2,875 367,121 1,363 5,037 4,421 2,634 5,360 8,633 1,181 2,819 833 33,418 Total deposits 18,095,789 783,744 6,289,752 851,927 1294,569 726,649 741,078 2750,470 636,051 412,181 815,779 823,204 1970,385 Deferred availability items 2,806,191 233,568 514,272 188,598 246,896 228,770 203,017 446,627 164,828 71,968 133,390 126,065 248,192 Other liabilities including accrued dividends 12,014 805 3,428 607 1,198 600 468 1,909 463 666 431 484 955 TOTAL LIABILITIES 43,827,322 2385,856 12,025,037 2637,461 3554,423 2483,900 2215,677 7628,360 1863,454 1091,586 1859,779 1565,261 4516,528 Capital paid in 214,871 12,098 72,977 15,332 19,904 9,412 8,611 27,316 7,128 4,869 7,669 8,863 20,692 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 2,140 Other capital accounts 157,900 11,078 34,545 11,447 14,665 10,589 9,036 21,898 8,785 5,768 7,950 7,700 14,439 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,715,809 2442,821 12,288,027 2706,934 3635,955 2531,029 2255,280 7751,032 1899,006 1115,790 1894,580 1599,004 4596,351 Contingent liability on acceptances purchased for foreign correspondents 7,399 466 2/2,323 592 673 370 311 1,021 266 185 274 259 659 Commitments to make industrial loans 1,089 4o8 445 112 124 F.R. notes outstanding 23, 691,556 1414,666 5,387,689 1642,990 2088,355 1596,399 1325,574 4507,475 1103,739 617,950 934,364 651,194 2421,161 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 22,216 1,600 11,985 1,295 — 2,271 375 950 3,740 U.S. Govt, securities 10,7 00,000 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 16 to 31 to 6l 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 fiTll^ 2b,750 3,335" 6,401 32,did Industrial loans 2,499 95 1 13 59 189 1,155 288 699 U.S. Govt, securities 17,791,174 952,585 683,593 1,200,087 2,405,659 2,133,700 2,707,650 711,800 2,370,300 4,625,800 l/ After deducting $599,290,000 participations of other Federal Reserve Banks. 2/ After deducting $5,076,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis S