H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) June 1, 1950 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 31 member bank reserve balances decreased $108 million. Reductions in member bank reserves resulted from increases of $180 million in money in circulation, $160 million in Treasury deposits with Federal Reserve Banks, $18 million in Treasury cash, and $8 million in nonmember deposits and other Federal Reserve accounts, offset in part by an increase of $252 million in Reserve Bank credit and $5 million in Treasury currency. Excess reserves of member banks on May 31 were estimated to be approximately $530 million. Holdings of loans, discounts and advances increased $200 million and of United States Government securities $99 million, the latter change reflecting increases of $73 million in bills, $60 million in certificates, $18 million in notes, and a decrease of $52 million in bonds. Changes in member bank reserve balances and related items during the week and the year ended May 31, 1950, were as follows: Increase or decrease since May 31, May 24, June 1, 1950 1950 1949 (In millions of dollars) U. S. Government securities 17,389 + 99 -2,378 Loans, discounts and advances 309 +200 + 150 Other Reserve Bank credit 236 - 49 + 17 Total Reserve Bank credit 17,935 +252 -2,210 Gold stock 24,231 + 1 - Ill Treasury currency 4,6o6 + 5 + 11 Member bank reserve balances 15,814 -108 -2,262 Money in circulation 27,088— +180 - 427 Treasury cash 1,316-^7 + 18 - 11 Treasury deposits with F. R. Banks 588 +160 - 34 Nonmember deposits and other F. R. accounts 1,972 + 8 + 424 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 May 31, May 24 June 1, 1950 1950' 1949 A S S E TS Gold certificates 22,477,428 - 22,003 - 47,003 Redemption fund for F. R. notes 520,630 960 - 71.068 Total gold certificate reserves 22,998,058 - 22,963 - 118,071 Other cash 182,184 - 28,988 - 67,884 Discounts and advances 306,399 +200,309 + 147,599 Industrial loans 2,585 + 1,966 - -- U. S. Govt, securities: Bills 4,068,875 + 73,000 - 210,260 Certificates 5,874,850 + 60,200 - 980,250 Notes 1,643,700 + 18,500 +1,284,600 Bonds 5,801,900 - 52,400 -2,471,700 Total U. S. Government securities 17,389,325 + 99,300 -2,377,610 Total loans and securities 17,698,309 +299,609 -2,228,045 Due from foreign banks 33 + 4 16 F. R. notes of other banks 94,027 - 17,469 + 3,182 Uncollected items 2,373,203 -271,676 + 33,140 Bank premises 34,804 63 + 2,415 Other assets 144,342 + 4,035 - 31,920 TOTAL ASSETS 43,524,960 - 37,511 -2,407,199 L I A B I L I T I ES Federal Reserve notes 22,835,733 +123,230 - 520,233 Deposits: Member bank-reserve account 15,813,832 -108,278 -2,262,202 U. S. Treasurer-general account 587,526 +159,305 - 34,813 Foreign 987,980 + 18,722 + 534,962 Other 266,103 - 10,207 - 192,086 Total deposits 17,655,441 + 59,542 -1,954,139 Deferred availability items 2,136,939 -223,434 + 15,801 Other liabilities including accrued dividends 14,264 863 + 1,605 TOTAL LIABILITIES 42,642,377 - 41,525 -2,456,966 C A P I T AL A C C O U N TS Capital paid in " 215,857 + 49 + 11,365 Surplus (Section 7) 488,173 + 21,462 Surplus (Section 13b) mm im mm 27,543 mm mm m. Other capital accounts 151,010 + 3,965 16,940 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 43,524,960 - 37,511 -2,407,199 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 56.8# - .3# + 3.0% Contingent liability on acceptances purchased for foreign correspondents 5,218 208 + 10 Commitments to make industrial loans 1,286 6 1,089 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 31, 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 22,477,428 870,84$ 6,930,663 1278,118 1647,242 1030,098 1016,318 4491,120 665,873 454,066 846,173 648,320 2598,592 Redemption fund for F. R. notes 520,630 51,058 37,933 45,478 56,380 47,989 37,596 78,826 42,039 21,979 34,021 26,465 40,866 Total gold certificate reserves 22,998,058 921,903 6,968,596 1323,596 1703,622 1078,087 1053,914 4569,946 707,912 476,045 880,194 674,785 2639,458 Other cash 182,184 14,852 30,709 12,746 13,080 11,328 17,821 19,983 12,021 4,878 10,862 9,717 24,187 Discounts and advances 306,399 27,632 154,597 8,722 11,215 19,205 9,565 22,252 8,758 20,485 18,263 979 4,726 Industrial loans 2,585 2,272 1 117 - — 195 - -- - -- - -- U. S. Govt, securities: Bills 4,068,875 280,508 948,422 270,584 377,169 262,874 217,945 617,037 224,443 125,887 188,808 184,707 370,491 Certificates 5,874,850 405,012 1,369,380 390,683 544,575 379,551 314,680 890,909 324,063 181,762 272,611 266,689 534,935 Notes 1,643,700 113,317 383,133 109,308 152,364 106,193 88,043 249,264 90,668 50,854 76,273 74,616 149,667 Bonds 320,039 179,505 269,225 263,376 528,292 Total U.S.Government securities 17,389,325 1198,820 4,053,313 1156,407 l6ll,921 1123,455 931,442 2637,056 959,213 538,008 806,917 789,388 1583,385 Total loans and securities" 17,698,309 1226,452 4,207,910 1167,401 1623,137 1142,777 941,007 2659,308 967,971 558,688 825,180 790,367 1588,111 Due from foreign banks 33 2 1/ 10 3 3 2 1 5 1 1 1 1 3 F.R.notes of other banks 94,027 3,701 15,583 4,404 6,320 9,986 9,978 16,083 6,304 3,274 5,288 3,954 10,152 Uncollected items 2,373,203 197,981 479,113 174,468 225,594 192,745 144,269 370,790 143,322 62,702 118,137 95,174 168,908 Bank premises 34,804 1,106 7,781 2,959 4,871 2,479 1,505 3,730 2,026 1,133 2,286 700 4,228 Other assets 144,342 9.720 32,695 9,311 13,637 9,494 7,687 22,025 9,079 4,357 6,798 6,419 13,120 TOTAL ASSETS 43,524,960 2375,717 11,741,397 2694,888 3590,264 2446,898 2176,182 7661,870 1848,636 1111,078 1848,746 1581,117 4448,16? 1/ 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 MAY 31, 195 0 (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 22,835*733 1380,719 5,152,573 1606,943 2028,721 1507,257 1258,111 4441,428 1048,678 602,948 904,706 613,776 2289,873 Deposits: Member bank-reserve acct. 15,813,832 645,716 5,297,722 728,425 1133,451 632,264 665,353 2515,048 544,287 368,689 727,035 754,090 1801,752 U.S.Treasurer-general acct. 587,526 37,766 82,179 48,432 50,762 22,593 43,506 122,397 46,739 30,813 32,812 47,947 21,58c Foreign 987,980 61,085 _l/322,8l6 77,568 88,233 48,480 40,723 133,805 34,906 24,240 35,875 33,936 86,312 Other 266.103 2,597 205,056 1,194 3,929 4,058 447 6,077 4,796 1,539 4,918 602 30,89c Total deposits 17,655,441 747,164 5,907,773 855,619 1276,375 707,395 750,029 2777,327 630,728 425,281 800,64o 836,575 1940,535 Deferred availability items 2,136,939 190,302 415,939 162,389 202,541 184,812 128,161 318,654 133,383 58,429 108,433 9966,,558800 113377,,3311^^ Other liabilities including accrued dividends 14,264 1,061 3,673 836 1,637 670 650 2,393 622 422 583 549 l,l6t TOTAL LIABILITIES 42,642,377 2319,246 11,479,958 2625,787 3509,274 2400,134 2136,951 '7 539,802 1813,411 1087,080 1814,362 1547,480 4368,892 Capital paid in 215,857 12,099 73,047 15,379 19,950 9,485 8,658 27,741 7,163 4,883 7,682 9,008 20,762 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,l4c Other capital accounts 151,010 10,583 32,924 11,028 14,077 10,151 8,617 20,869 8,423 5,548 7,520 7,449 13,821 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 43,524,960 2375,717 11,741,397 2694,888 3590,264 2446,898 2176,182 7661,870 1848,636 1111,078 1848,746 1581,117 4448,167 Contingent liability on acceptances purchased for foreign correspondents 5,218 329 2/1,638 4l8 475 261 219 720 188 130 193 183 461j Commitments to make industrial loans 1,286 402 440 60 256 125 F.R. notes outstanding 23,521,063 1411,448 5,287,369 1647,936 2095,267 1560,709 1315,918 4526,614 1092,019 613,699 927,394 641,018 2401,672 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 237,430 26,410 138,310 7,170 — 17,935 —- — 8,060 20,000 17,5^5 — 2,00C U.S. Govt, securities 10,450,000 1100,000 700,000 1000,000 1150,000 950,000 700,000 1600,000 800,000 450,000 700,000 500,000 800,00C MATURITY DISTRIBUTION OF LOANS AND SECURITIES Within l6 to 31 to 1ST 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 306,399 281,020 6,946 ""47892 13,5%T Industrial loans 2,585 47 36 11 4 9 1,067 381 276 718 U.S. Govt, securities 17,389,325 2,092,854 669,016 2,939,988 1,381,817 2,199,200 1,124,050 962,000 2,208,000 3,812,400 l/ After deducting $665,145,000 participations of other Federal Reserve Banks. 2/ After deducting $3,580,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis