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 23, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 22 member bank reserve balances decreased $802 million. Reductions in member bank reserves resulted from an increase of $750 million in Treasury deposits with Federal Reserve Banks and decreases of $228 million in Reserve Bank credit and $49 million in gold stock, offset in part by decreases of $51 million in money in circulation and $174 million in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on March 22 were estimated to be approximately $670 million. Holdings of loans, discounts and advances increased $115 million, while holdings of United States Government securities decreased $218 million, the latter change reflecting decreases of $95 million in certificates, $86 million in bonds, and $37 million in bills. The decrease in certificates was due in part to the redemption during the week of the $108 million certificates of indebtedness-special series held on March 15• Changes in member bank reserve balances and related items during the week and the year ended March 22, 1950* were as follows: Increase or decrease since March 22, March 15, March 23, 1950 1950 1949 (In millions of dollars) U. S. Government securities 17,573 -218 -4,102 Loans, discounts and advances 189 +115 - 4o6 Other Reserve Bank credit 274 -125 + 31 Total Reserve Bank credit 18,036 -228 -4,476 Gold stock 24,271 - 49 - 36 Treasury currency 4,600 - l + 12 Member bank reserve balances 15,969 -802 -3,391 Money in circulation 26,972 - 51 - 451 Treasury cash 1,308 + 1 - 19 Treasury deposits with F. R. Banks 759 +750 - 673 Nonmember deposits and other F. R. accounts 1,900 -174 + 34 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Mar. 22, Mar. 15, Mar. 23, 1950 1950 1949 A S S E TS Gold certificates 22,515,430 - 50,000 + 59,000 Redemption fund for F. R. notes 532,517 - 3,909 - 80,310 Total gold certificate reserves 23,047,947 - 53,909 - 21,310 Other cash 287,284 - 6,170 - 46,604 Discounts and advances 186,461 +115,347 - 407,4l4 Industrial loans 2,680 + 181 + 1,914 U. S. Govt, securities: Bills 3,816,875 - 36,749 -1,400,918 Certificates 5,848,550 - 94,500 - 783,219 Notes 1,379,200 +1,011,650 Bonds 6,528,700 - 86,600 -2,929,250 Total U. S. Government securities 17,573,325 -217,849 -4,101,737 Total loans and securities 17,762,466 -102,321 -4,507,237 Due from foreign banks 33 16 F. R. notes of other banks 111,991 + 3,029 8,221 Uncollected items 2,752,681 -452,487 + 69,508 Bank premises 34,476 + 95 + 2,303 Other assets 110,643 + 3,475 - 41,724 TOTAL ASSETS 44,107,521 -608,288 -4,553,301 L I A B I L I T I ES Federal Reserve notes 22,856,146 - 57,182 - 521,243 Deposits: Member bank-reserve account 15,968,560 -802,607 -3,391,779 U. S. Treasurer-general account 758,739 +749,515 - 672,811 Foreign 839,250 - 40,453 + 131,804 Other 299,732 -135,963 - 189,324 Total deposits 17,866,281 -229,508 -4,122,110 Deferred availability items 2,478,864 -327,327 + 38,332 t Other liabilities including accrued dividends 12,020 - , 4,817 TOTAL LIABILITIES 43,213,311 -614,011 -4,609,838 C A P I T AL A C C O U N TS Capital paid in 214,934 63 + 10,713 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) 27,543 Other capital accounts 163,560 + 5,660 + 24,362 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,107,521 -608,288 -4,553,301 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.6$ • 3fo + 5.7% Contingent liability on acceptances purchased for foreign correspondents 7,317 82 + 2,577 Commitments to make industrial loans 1,176 87 1,347 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 22, 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 22,515,430 888,698 6,878,130 1274,671 1616,836 1061,277 1044,121 4412,486 697,333 448855,,113388 863,980 638,980 2653,780 Redemption fund for F. R. notes 532,517 50,138 44,109 46,446 57,571 48,213 38,555 80,191 42,426 22,133 34,378 26,743 4l,6l4 Total :gold certificate reserves 23,047,947 938,836 6,922,239 1321,117 1674,407 1109,490 1082,676 4492,677 739,759 507,271 898,358 665,723 2695,394 Other cash 287,284 20,563 70,026 16,855 20,707 18,074 22,673 35,378 13,419 5,798 10,427 12,609 40,755 Discounts and advances 186,461 5,402 75,713 4,389 9,633 12,846 1,885 34,924 3,687 9,433 18,068 2,506 7,975 Industrial loans 2,680 «****» 22,,338800 1 118 181 U. S. Govt, securities Bills 3,816,875 263,135 889,683 253,826 353,809 246,593 204,447 578,822 210,543 118,090 177,114 173,267 347,546 Certificates 5,848,550 403,199 1,363,249 388,935 542,138 377,851 313,273 886,921 322,611 180,948 271,391 265,495 532,539 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 6,528,700 450,089 1,521,788 434,165 605,184 421,793 349,703 990,064 360,130 201,992 302,951 296,370 594,471 Total U^.Government —securities 17,573,325 1211,505 4,096,201 1168,644 1628,977 1135,342 941,298 2664,960 969,362 543,701 815,455 797,741 1600,139 Total loans and securities 17,762,466 1216,907 4,171,914 1175,413 1638,611 1148,306 943,183 2699,884 973,049 553,315 833,523 800,247 1608,114 Due from foreign banks 33 2 1/ 10 3 3 2 1 5 1 1 1 1 3 F.R.notes of other banks 111,991 4,379 15,622 3,416 4,760 12,714 15,994 14,389 8,060 3,826 5,259 5,490 17,082 Uncollected items 2,752,681 218,037 490,911 201,957 255,704 227,545 215,589 420,075 149,378 77,392 148,460 124,232 223,401 Bank premises 34,476 1,120 7,839 2,975 4,906 2,472 1,515 3,649 2,047 1,140 2,298 710 3,805 Other assets 110,643 7,602 25,156 7,122 10,405 7,042 5,931 16,896 7,174 3,302 5,243 4,942 9,828 TOTAL ASSETS 44,107,521 2407,446 11,704,71? 2728,858 3609,503 2525,645 2287,562 7682,953 1892,887 1152,045 1903,569 1613,954 4598,382 1/ 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 22 ,1950 H.4.1(c) (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 22,856,146 1365,618 5,204,320 1596,240 2010,445 1520,531 1269,262 4423,773 1057,202 606,030 907,650 612,178 2282,897 Deposits: Member bank-reserve acct. 15,968,560 682,695 5,135,597 765,606 1154,664 652,525 694,669 2551,742 575,907 376,847 752,775 776,814 1848,719 U.S.Treasurer-general acct. 758,739 43,756 176,409 51,524 65,765 45,668 48,588 97,145 42,860 52,307 37,843 35,198 61,676' Foreign 839,250 52,555 1/266,970 66,736 75,912 41,710 35,036 115,120 30,031 20,855 30,865 29,197 74,263 Other 299,732 3,388 232,786 2,303 5,198 3,226 964 5,349 5,745 1,846 3,443 750 34,714 Total deposits 17,866,28l 782,394 5,811,762 886,169 1301,539 743,129 779,277 2769,356 654,543 451,855 824,926 841,959 2019,372 Deferred availability items 2,478,864 201,213 421,186 175,917 214,140 213,831 198,601 364,279 144,801 69,396 135,469 125,280 214,751 Other liabilities including accrued dividends 12,020 809 3,203 664 1,302 669 525 2,065 . 455 384 407 547 9901 TOTAL LIABILITIES 43,213,311 2350,034 11,440,471 2658,990 3527,426 2478,160 2247,665 7559,473 1857,001 1127,665 1868,452 1579,964 4518,010 Capital paid in 214,934 12,098 72,995 15,334 19,918 9,420 8,611 27,320 7,128 4,871 7,674 8,869 20,696 Surplus (Section 7) 483,173 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 163,560 11,525 35,783 11,840 15,196 10,937 9,330 22,702 9,119 5,942 8,261 7,941 14,984 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 44,107,521 2407,446 11,704,717 2728,858 3609,503 2525,645 2287,562 7682,953 1892,887 1152,045 1903,569 1613,954 4598,382 Contingent liability on acceptances purchased for foreign correspondents 7,317 454 2/2,373 577 656 360 303 994 260 180 267 252 64l Commitments to make industrial loans l, 176 — — „ „ 355 445 252 124 F.R. notes outstanding 23,630,162 1416,045 5,363,865 1644,692 2084,523 1586,813 1326,320 4502,292 1096,728 616,991 933,963 646,269 24ll,66l 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,,0 00 400,000 210,000 280,000 204 Eligible paper 108,451 2,800 62,645 1, O85 10,481 2,200 8,400 16,540 4,300 U.S. Govt, securities 10,700,000 1100,000 900,000 1000,0 00 1150,000 1000,000 700,000 1600,0 00 800,000 450,000 700,000 500 800,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within 16 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 186,46l 142,6l6 2,000 1,540 40,305 — — — * — — — —— — — — Industrial loans 2,680 100 8 12 67 276 1,166 292 759 U.S. Govt, securities 17,573,325 1,142,418 384,941 1,346,212 : 2,223,604 2,133,700 2,721,150 711,800 2,370,300 4,539,200 2/ After deducting $4,944,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve <Ba nk of St. Louis