H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. K. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb. 7; of the Federal Reserve Systec not earlier. February 6, 194-1 C0NDITI0H OF THE FEDERAL RESERVE BANKS During the week ended February 5 member bank reserve balances decreased $505,000,000. Reductions in member bank reserves arose from increases of $4345000,000 in Treasury deposits with Federal Reserve Banks, $79,000,000 in money in circulation, and $12,000,000 in Treasury cash, and a decrease of $11,000,000 in Reserve Bank credit, offset in part by increases of $12,000,000 in gold stock and $2,000,000 in Treasury currency, and a dedrease of $15,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on February 5 were estimated to be approximately $6,310,000,000, a decrease of $490,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 5, 1941, were as follows» Increase or decrease since Feb. 5, Jan. 29, Feb. 7, 1941 1941 1940 (in millions of dollars) Bills discounted 2 - 1 5 U,S.Gov*t securities,direct and guaranteed 2,184- ----- - 293 Industrial advances(not including 5 million commitments - February 5) 8 -- 2 Other Reserve Bank credit 23 - 10 —. — Total Reserve Bank credit 2,217 - 11 - 301 Gold stock 22,122 + 12 +4,124 Treasury currency 3,099 + 2 + 126 Member bank reserve balances 13,842 -505 +1,745 Money,in circulation 8,627 + 79 +1,224 Treasury cash 2,212 + 12 - 153 Treasury deposits with F. R. Banks 692 +434 + 60 lionmember deposits and other F. R. accounts 2,067 - 15 +1,075 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, R. 283-a Released for publication Friday morning, February 7, 1941; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS CQIjBINED (In thousands of dollars) Increase or decrease since Feb. 5, Jan. 29, Feb. 7, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U. S. Treasury 19,904,281 + 7,501 +4,284,662 Redemption fund - F. R. notes 8,784 *• i,04i 1,334 Other cash _.._15P^821 -.21*912 - 36,803 Total reserves 20,263,886 - 15,473 +4,246,525 Bills discounted* Secured by U. S. Gov*t obligations, direct and guaranteed 1,415 + 4 + 895 Other bills discounted 724 .511 5,540 ... Total bills discounted 2,139 527 - 4,645 Industrial advances 7,871 -- 2,614 U.S.Government s ecurities« direct and guaranteed* Bonds .1,284,600 -- - 59,445 Notes 899,500 -- - 233,725 Total U. S. Government securities direct and guaranteed 2,184,100 -- - 293,170 Total bills and securities 2,194,110 527 - 300,429 Due from foreign banks 47 _ — — F. R. notes of other banks 25,576 164 + 3,492 Uncollected items 720,733 - 6,042 + 122,238 Bank premises 39,978 — 60 1,814 Other assets 50,689 + 160 - 10,771 TOT.AL A S S E T S 23,295,019 - 22,106 +4,059,241 L I A B I L I T I E S F. R. notes in actual circulation 5,906,166 + 60,407 +1,069,398 Deposits* Member bank - reserve account 13,841,512 -505,499 +1,744,785 U.S. Treasurer - General account 692,032 +433,781 + 60,467 Foreign 1,183,924 - 31,666 + 795,751 Other deposits + 16,654 + 245,903 Total deposits 16,317,779 - 86,730 +2,846,906 Deferred availability items 697,777 + 4,251 + 122,418 Other liabilities including accrued dividends 2,657 296 + 242 TOTAL LIABILITIES 22,924,379 - 22,368 +4,038,964 C A P I T A L A C C O U N T S Capital paid in 139,501 + 53 + 3,408 Surplus (Section 7) 157,065 + 5,345 Surplus (Section 13b) 26,785 54 — Other capital accounts 47,289 + 209 + 11,578 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,295,019 - 22,106 +4,059,24-1 Ratio of total reserves to deposit and F. R. note liabilities combined 91* 2% + .156 + 3.7* Commitments to make industrial advances 5,147 60 3,203 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 ON FEBRUARY 5, 194-1 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 19,904.281 1,201,445 9,605,669 1,052.721 1,418,046 588.620 400,796 2.902,841 499,252 323,650 433,452 308,602 1,169,187 Redemption fund - F.R. notes 8,784- 1,029 1,202 766 413 1,119 386 911 593 285 342 470 1,268 Other cash 350,821 29,811 78,850 28,390 24,905 20,824 25,487 48,098 IS,165 7,418 18,250 13,653 36,970 Total reserves 20,26^.886 lT2^2.2£tt 9,685,721 1,081,877 1,443,364 610,563 426,669 2,951,850 518,010 331,353 452,044 322,725 1,207,425 Bills discounted» Secured by U.S. Gov’t obligations, direct and guaranteed 1,415 9 698 475 --- 8 2 31 --- 149 43 --- ----- Other bills discounted 724 — — 111 77 59 - — 7 12 — — 79 367 12 -- Total bills discounted 2.139 9 809 552 59 8 9 43 — . 228 410 12 ----- Industrial advances 7,871 912 1,754 2,359 249 770 321 355 2 26 5 73 277 534 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 60,661. 39,32c) 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 securities, 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 2,194,110 159,402 635,066 177,753 215,611 120,754 91,439 § cv ft to 103,140 67,345 110,178 87,124 180,990 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 25,576 438 2,099 937 2,607 5,077 2,911 2,381 1,959 343 1,531 952 4,341 Uncollected items 720,733 70,302 168,619 52,592 83,916 61,446 32,077 97,278 40,639 17,438 28,699 27,289 40,438 Bank premises 39,978 2,829 9,684 4,519 4,574 2,584 1,987 3,035 2,315 1,365 3,027 1,219 2,840 Other aesets 50,689 3,465 14,066 4,360 5,426 3,067 2,054 5,4-38 2,240 1,582 2,440 5,042 4,509 I' TO'TAL A S S E T S 23,295,019 1,468,724 10,515,273 1,322,043 1,755,502 803,493 557,139 3,305,296 668,304 419,426 597,920 441,352 1,440,547 *Less than è pOO» Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. H, 283“C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 5, 1941 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila, Clove, Rich,, Atlanta Chicago St.Louis! Minn, Kans.Cy, Dallas San Fran, l F. R. notes in actual cir­ culation 5,906,166 475,051 1,560,907 409,231 541,442. 280,869 197,523 1,268,284 222,720 158,203 213,419 98,133 480,384 Deposits* Member bank-reserve acct. 13,841,512 792,375 7,222,104 693,335 961,511 383,810 256,592 1,717,189 339,088 170,819 286,367 252,654 765,668 U.S.ïreasurer—General acct. 692,032 45,780 289,889 28,439 49,720 23,038 25,074 75,909 22,146 43,215 26,357 28,042 34,423 Foreign 1,183,924 54,724 676,852 76,571 72,624 33,944 27,629 94,727 23,682 17,367 22,892 22,892 60,020 Other deposits 600,311 6,526 482,673 24,056 11,067 6,567 4,739 4,216 8,643 5,068 8,691 1,784 36,281 Total deposits 16,317,779 899,405 8,671,518 822,401 1,094,922 447,359 314,034 1,892,041 393,559 236,469 344,307 305,372 896,392 Deferred availability items 697,777 68,352 154,247 55,705 84,565 59,104 31,924 97,322 40,274 15,002 28,871 26,344 36,067 Other liabilities including accrued dividends 2,657 329 556 240 302 291 122 296 103 114 92 IO3 109 TOTAL LIABILITIES 22,924,379 1,443,137 10,387,228 1,287,577 1,721,231 787,623 543,603 3,257,943 656,656 409,788 586,689 429,952 1,412,952 C A P I T A L A C C O U II T S Capital paid in 139,501 9,342 51,482 11,904 14,364 5,402 4,774 14,623 4,238 2,972 4,496 4,252 11,652 Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 22,824 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 1,263 2,121 Other capital accounts 47,289 2,465 13,046 3,025 4,577 1,977 2,324 8,477 1,952 2,514 1,984 1,911 3,037 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,295,019 1,468,724- 10,515,273 1,322,043 1,755,502 803,493 557,139 3,305,296 668,304 419,426 597,920 441,352 1,4/0,547 Commitments to make industrial advances 5,147 190 667 260 737 535 - - 8 229 46 35 4 2,436 MATURITY DISTRIBUTION OF BILLS Al-ID 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 2,139 1,546 87 100 260 139 7 Industrial advances 7,871 1,357 68 478 109 600 1,549 1,394 2,316 U.S. Government securities, direst and guaranteed 2,184,100 74-, 800 115,300 43,000 181,800 633,400 .,135,800 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON FEBRUARY 5, 194-1 (in 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 6,204,390 498,324 1,632,046 427,663 564,201 296,891 217,554 1,302,315 234,893 162,711 221,997 106,799 538,996 Held by Federal Reserve Bank 298,224 23,273 71,139 18,432 22,759 16,022 20,031 34,031 12,173 4,508 8,578 8,666 58,612 In actual circulation 5,906,166 475,051 1,560,907 409,231 541,442 280,869 197,523 1,268,284 222,720 158,203 213,419 98,133 480,384 Collateral held by agent as se~ curity for notes issued to bank? Gold certificates on hand and due from U. S. 'Treasury 6,344,500 510,000 1,650,000 440,000 565,000 315,000 225,000 1,320,000 244,000 165,500 225,000 111,000 574,000 Eligible paper 1,946 9 739 552 --- 8 -- ~ ~ 228 410 Total collateral 6,346,446 510,009 1,650,739 440,552 565,000 315,008 225,000 1,320,000 244,000 165,728 225,410 111,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis