H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Forra F. R, 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Jan. 24; of the Federal Reserve System not earlier. January 23, 1941 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 22 member bank reserve balances decreased $4,000,000. Reductions in member bank reserves arose from increases of $24,000,000 in Treasury deposits with Federal Reserve Banks and $8,000,000 in noruuenber de­ posits and other Federal Reserve accounts, offset in part by increases of $23,000,000 in gold stock, $3,000,000 in Treasury currency and $2,000,000 in Reserve Bank credit. Excess reserves of member banks on January 22 were estimated to be approximately $6,860,000,000, a decrease of $40,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended January 22, 1941, were as follows! Increase or decrease since Jan. 22, Jan. 15, Jan, 24, 1941 1941 1940 (in millions of dollars) Bills discounted 4 --------- - 3 U.S. Gov’t securities, direct and guaranteed 2,184 ------- - 293 Industrial advances (not including 5 million commitments - January 22) 8 --------- 3 Other Reserve Bank credit 61 + 2 + 42 Total Reserve Bank credit 2,256 + 2 - 2 58 Gold stock 22,089 + 23 +4,210 Treasury currency 3,095 + 3 + 12.6 Member bank reserve balances 14,410 - 4 +2,262 Money in circulation 8,541 - 1 +1,176 Tree.siiry cash 2,196 + 1 - 185 Treasury deposits with F. R. Banks 261 + 24 — 246 lionaember deposits and other F.R. accounts 2,033 + 8 +1,071 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, R. 283-a Released for publication Friday morning, January 24,1941? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since J an. 22, Jan, 15« Jan. 24* 19ÁL 1940 ....... ____ ,.im _ A S S E T S Gold certificates on hand and due from U. S. Treasury 19,879,778 + 33,998 + 4;,396,658 Redemption fund - F. R. notes 9,826 + 104 + 1,224 Other cash . 363,401 + 2,584 49,772 Total reserves 20,253,005 + 36,686 +4,348,110 Bills discounted* Secured by U. S. Gov’t obligations, direct and guaranteed 2,260 239 + 1,616 Other bills discounted 1,289 - 349 5,068 Total bills discounted 3,549 - 110 - 3,452 Industrial advances 7,500 - 8 3,411 U. S. Government securities, direct and guaranteed! Bonds 1,284,600 - - - 59,445 Notes 899,500 - - - .m*725 Total U. S. Government securities, direct and guaranteed 2,184,100 — — — 293,170 Total, bills and securities 2,195,149 - 118 - 300,033 Due from foreign banks 47 - - ------ F. R. notes of other banks 29,402 - 418 + 3,136 Uncollected items 839,957 - 61,635 + 199,386 Bank premises 40,062 - 13 - 1,649 Other assets 49,483 + 528 — 11,220 T O T A L A S S E T S 23,407,105 24,970 +4,237,730 - L I A B I L I T I E S F. R. notes in actual circulation 5,834,506 + 9,654 +1,006,754 Deposits! Member bank - reserve account 14,409,560 4,009 +2,261,904 U. S. Treasurer - General account 261,012 4. 23,945 - 246,473 Foreign 1,230,690 + 854 + 8.1.0,123 Other deposits 519,575 + 7,628 + 219,561 Total deposits 16,420,837 + 28,4.18 +3,053,115 Deferred availability items 779,123 — 63,459 + 157,173 Other liabilities including accrued dividends 2,428 2.55 437 _______ TOTAL LIABILITIES 23,036,894 - 25,132 +4,217,479 c a p i t a l a c c o u n t s Capital paid in 139,351 + 45 + 3,397 Surplus (Section 7) 157,065 ------ + 5,345 Surplus (Section 13b) 26,785 ------ 54 Other capital accounts 47,010 + 117 + 11,563 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,407,105 - 24,970 +4,237,730 Ratio of total reserves to deposit and F. R. note liabilities combined 91.056 - - + 3» 6$ Commitments to najfce industrial advances 5,095 + 6* - 3,300 £ 1 1—( figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283~b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OU JANUARY 22, 1941 (In thousands of dollars) A S S E T S Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 19,379,778 1,185,420 9,782,711 1,051,808 1,360,876 557,356 369,570 ;2,883,729 492,097 309,586 420,728 278,360 1,187,537 Redemption fund - F.R.notes 9,826 1,090 1,456 864 494 1,925 430 1,014 114 296 360 4-80 1,303 Other cash 363,401 32,536 77,981 24,797 26,914 22,948 25,212 52,183 20,294 7,764 18,072 15,794 38,906 Total reserves 20,253,005 1,219,046 9,862,148 1,077,469 1,388,284 582,229 395,212 ;2,936,926 512,505 317,646 439,160 294,634 1,227,746 Bills discounted: Secured by U. S. Gov't obiigations, direct and guaranteed 2,260 20 630 428 10 8 2 1,010 ------------ 109 43 — — — — Other bills discounted 1,289 — — 325 166 96 17 14 73 11 70 465 23 29 Total bills discounted 3,549 20 955 594 106 25 16 1,083 11 179 508 23 29 Industrial advances 7,500 915 1,755 2,037 247 779 335 274 3 263 73 278 541 U. S. Government securities direct and guaranteed: Bonds 1,284,600 93,212 372,013 102,835 126,632 70,566 53,587 144,046 60,66].39,320 64,518 51,073 106,137 Notes 899,500 65,269 260,490 72,007 88,671 49,410 37,522 100,864 42,477 27,532 45,177 35,762 74,319 Total U. S. Gov*t securitie s* direct and guaranteed 2,184,100 158,481 632,503 174,842 215,303 119,976 91,109 244,910 103,138 66,852 109,695 86,835 180,456 Total bills and securities 2,195,149 159,416 635,213 177,473 215,656 120,780 91,460 246,267 103,152 67,294 110,276 87,136 181,026 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 29,402 655 3,182 1,003 2,399 6,072 2,966 2,636 2,529 703 1,773 701 4,783 Uncollected items 839,957 75,402 201,642 58,158 92,295 86,945 40,068 102,980 4-8,993 18,139 30,967 39,535 44,833 Bank premises 40,062 2,833 9,702 4,529 4,574 2,591 1,990 3,040 2,318 1,367 3 5043 1,226 2,849 Other assets 49,483 3,403 13,731 4,273 5,315 3,006 2,003 5,278 2,188 1,548 2,354 1,978 4,4o6 T O T AJL A S S E T S 23,407,105 1,460,758 10,725,636 1,322,910 1,708,527 801,625 533,701 3,297,133 671,686 406,697 587,574 425,211 1,465,647 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAUES Oli JANUARY 22, 1941 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila, Cleve. Rich. Atlanta Chicago 3■t. Louis Minn. Kians.Cy* Dallas San Fran. F. R. notes in actual cir­ culation 5,834,506 471,389 1,542,876 403,782 536,729 276,008 194,353 1,255,499 219,809 156,549 209,452 95,368 472,692 Deposits» Member bank-reserve acct. 14,409,560 818,703 7,667,269 712,489 956,489 378,855 243,708 1,756,557 349,372 183,311 289,050 238,188 815,569 U.S.Treasurer-General acct. '261,012 10,001 80,430 17,530 15,290 9,258 13,168 37,¿/c 11,656 19,439 15,676 13,950 17,336 Foreign 1,230,690 54,841 723,091 76,631 72,681 33,971 27,651 94,£02 23,700 17,380 22,910 22,910 60,122 Other deposits 519,575 7,669 409,987 20,939 5,521 3,637 4,680 5,375 7,515 5,201 10,183 1,516 37,352 Total deposits 16,420,837 891,214 8,880,777 827,589 1,049,981 425,721 289,207 1,894,012 392,243 225,331 337,819 276,564 930,379 Deferred availability items 779,123 72,264 173,575 56,832 87,350 83,751 36,514 100,059 47,916 15,085 29,032 41,798 34,947 Other liabilities including accrued dividends 2,428 313 499 276 224 280 116 293 71 103 75 101 77 TOTAL LIABILITIES 23,036,894 1,435,180 10,597,727 1,288,479 1,674,284 785,760 520,190 3,249,863 660,039 397,068 576,378 413,831 1,438,095 c a p i t a l AC C O O H T S Capital paid in 139,351 9,341 51,450 11,897 14,352 5,399 4,764 14,578 4,236 2,977 4,478 4,244 11,635 0/"’ P'V- Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 4,925 3,152 3,613 3,974 10,785 Surplus (Section 13b) 26,785 2,874 7,070 4,393 1,007 3,244 713 1,429 533 1,000 1,138 1,^63 2,121 Other capital accounts 47,010 2,457 12,942 2,997 4,561 1,975 2,309 8,439 1,953 2,500 1,967 1,899 3,011 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,407,105 1,460,758 10,725,636 1,322,910 1,708,527 801,625 533,701 3,297,133 671,686 406,697 587,574 425,211 1,465,647 Commitments to malie industrial advances 5,095 234 670 94 744 537 - - 24 254 46 35 4 2,453 MATURITY DISTRIBUTION OF BILIS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 3,549 2,788 87 164 275 224 11 Industrial advances 7,500 1,375 63 205 343 505 1,226 1,464 2,319 U. S, Government securities, clarect and guaranteed 2,184,100 74,800 58,300 100.000 181,800 633,400 1,135,800 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE KOTE STATEMENT ON JANUARY 22, 19Al (ln thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy.Dallas San Fran. Federal Reserve notes? Issued to F.R.bank by F.R.agent 6,177,883 501,289 1,622,4-90 423,360 563,849 293,855 217,566 1,295,315 233,735 163,018 217,638 105,820 539,948 Held by Federal Reserve Bank 343,377 29,900 79,6l4 19,578 27,133 17,347 2.3,213 39,816 13,926 6,4o9 8,186 10,452 67,256 In actual circulation 5,834,506 471,389 1,542,876 403,782 536,729 276,008 194,353 1,255,499 219,809 156,549 209,452 95,368 472,692 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from U. S. Treasury 6,334,500 510,000 1,645,000 440,000 570,000 315,000 225,000 1,310,000 244,000 165,500 225,000 111,000 574,000 Eligible paper 1,968 20 716 557 - - 8 - - - - - - 170 497 - - Total collateral 6,336,468 510,020 1,645,716 440,557 570,000 315,008 225,000 1,310,000 24-4,000 165,670 225,497 111,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis