H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. ?.. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb. 21; of the Federal Reserve System not earlier, February 20, 1941 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 19 member bank reserve balances increased $150,000,000. Additions to member bank reserves arose from decreases of $14-3,000,000 in Treasury deposits with Federal Reserve Banks and $53,000,000 in nomember deposits and other Federal Reserve accounts, and increases of $10,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by a decrease of $25,000,0Q0 in Reserve Bail: credit and increases of $23,000,000 in money in circulation and $10,000,000 in Treasury cash. Excess reserves of member banks on February 19 were estimated to be approximately $6,440,000,000, an increase of $110,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 19, 1941, were as followsi Increase or decrease since Feb. 19, Feb. 12, Feb. 21, 1941 1941 1940 (In millions of dollars) Bills discounted 2 - 1 4 U. S. Gov*t securities,direct and guaranteed 2,184- — — - 293 Industrial advances (not including 5 million commitments - February 19) 8 -- 2 Other Reserve Bank credit 4-1 - 25 + 11 Total Reserve Bank credit '2,235 - 25 - 288 Gold stock 22,140 + 10 +4-, 032 Treasury currency 3,102 + 2 + 'l25 Member bank reserve balances 14,021 +150 +1,780 Money in circulation 8,688 + 23 +1,238 Treasury cash 2,222 + 10 - 136 Treasury deposits with F. R. Banks 479 -143 - 117 Nomeaber deposits and other F. R. accounts 2,067 - 53 +1,103 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. P.. 2£>-a «■Released for publication Friday morning, February 21,1941; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 19, Feb* 12, Feb. 21, 1941 1941 1940 A S S E T S Gold certificates on hand and due fron U. S. Treasury 19,902,778 3 +4,163,656 Redemption fund - F. R. notes 9,162 436 268 Other cash ___219,441 - 5,770 " _2°¿057 Total reserves 20,251,381 - 6,209 +4,133,331 Bills discounted* Secured by U, S. Gov’t obligations, direct and guaranteed 1,645 217 + 904 Other bills discounted .... -.621 59 4,715 Total bills discounted 2,268 276 3,811 Industrial advances 7,854 23 2,573 U. S. Government securities, direct and guaranteed* Bonds 1,284,600 --- - 59,445 Notes 899,500 —* r.._...222*725 Total U. S.Government securities, direct and guaranteed 2,184,100 — — - 293,170 Total bills and securities 2,194,222 299 - 299,554 Due fron foreign banks 47 --- - - F. R. notes of other banks 23,389 - 2,921 + 3,386 Uncollected items 837,999 + 44,432 + 201,704 Bank premises 39,999 + 3 1,772 Other assets 52,298 + 931 .T— .,11.i622 T O T A L A S S E T S 23,399,335 + 35,937 +4,025,462 L I A B I L I T I E S F. R. notes in actual circulation 5,943,080 + 11,616 +1,082,302 Deposits* Member bank — reserve account 14,02.0,569 +149,876 +1,779,886 U.SiTreasurer — General account 479,393 -143,078 ~ 116,597 Foreign 1,130,080 - 33,769 + 768,699 Other deposits 655,332 - 17,922 + 300,467 Total deposits 16,285,374 - 44,893 +2,732,455 Deferred availability itens 797,036 + 69,158 + 190,330 Other liabilities including accrued dividends 3,102 r____ 20 + ____369 TOTAL LIABILITIES 2.3,028,592 + 35,851 +4,005,456 C A P I T A L A C C O U N T S Capital paid in 139,550 + 36 + 3,475 Surplus (Section 7) 157,065 + 5,345 -- Surplus (Section 13b) 2.6,785 54 Other capital accounts _ 47*242 + 50 + 11,240 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,399,335 + 35,937 +4,025,462. Ratio of total reserves to deposit and F. R. note liabilities combined 91.1% + .1% + 3.6% Commitments to naive industrial advances 5,125 2 3,513 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forrr. F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAIiXS ON FEBRUARY 19, 1941 (in thousands of dollars) A S S E T S Total Boston Nev; York Phila* Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 19,902,778 1,195,583 9,596,734 1,077,502 1,401,016 579,613 396,464 2,928,647 4-96,186 307,918 432,557 292,420 1,198,138 Redemption fund - F.R.notes 9,16-2 958 996 687 818 1,798 325 802 561 264 3U 454 1,188 Other cash 339,441 28,467 80,767 2,6 jtoSG 23,461 19,339 25,489 46,681 17,048 7,312 18,482 12,900 32,807 Total reserves 20,251,381 1,225 ,008 9,678,497 1,104,077 1,425,295 600,750 422,278 2,976,130 513,795 315,494 451,350 305,'774 1,232,133 Bills discounted: Secured by U. S. Gov’t obligations. direct and guaranteed 1,645 --- 1,005 437 -- 18 2 31 -- 99 53 - — -- Other bills discounted 623 — — 111 33 55 — — 7 21 - — 75 321 — — — — Total bills discounted 2,268 -- 1,116 470 55 18 9 52 ---» 174 . 374 --- --- Industrial advances 7,854 917 1,754 2,354 232 769 333 355 O 255 72 .277 534 U. S.Government securities direct and guaranteed: Bonds 1,284,600 93j212 372,013 102,835 126,632 70,566 53,587 144,046 60,661 39,320 64,518 51,073 106,137 Notes 899,500 65,269 260,490 72,007 88,671 49,410 37,522 100,064 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 2,194,222 159,398 635,373 177,666 215,590 120,763 91,451 245,317 H O O^N H 3 67,281 H H O>v H - N- H 87,112 180,990 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 23,389 4-28 2,021 1,097 2,484 4,650 3,008 2,714 2,254 855 1,303 763 1,812 Uncollected items 837,999 81,481 212,248 63,154 95,280 70,520 34,351 111,288 44,229 18,968 31,981 31,771 42,728 Bank premises 39,999 2,829 9,686 4,537 4,574 2,584 1,988 3,035 2,315 1,365 3,027 1,219 2,840 Other assets 52,298 3,595 14,541 4,508 5,592 3,159 2,103 5,572. 2,315 1,639 2,509 2,118 4,647 T O T A L A S S E T S 23,399,335 1,472,742 10,552,384 1,355,844 1,748,819 802,4-28 555,181 3,344,062 668,04-9 4 05,602 600,312 4-28,758 1,465,154 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28j-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BALTICS OU FEBRUARY 19, 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 St .Louis Minn, Kans.Cy, F. R. notes in actual cir­ culation 5,943,080 478,218 1,564,666 413,894 547,687 284,112 197,315 1,281,099 223,648 157,> c -' q - c O 213,992 483,450 Deposits» 14,020,569 798,531 7,355,592 701,433 955,707 382,462 261,734 1,741,007 336,532 3 6?. ^ 206 ^08 789ç628 . 479,393 27,904 162,573 38,419 34,360 11,429 15,459 64,59; 19-0'? 3 - : 2 7 /. :o '/7 ’ /. p5 Foreign 1,130,080 56,302 62.3,738 76,174 72,248 33,768 27,486 94,2^6 23,559 ] 7-. ; P7 ■■ ' / /4 59*744 *1 r f r Other deposits 655,332 6,499 531,042 29,366 10,766 4,507 5,970 5,489 8,932 5;>517 0,;:55 37,649 Total deposits 16,285,374 889,236 8,672,945 845,392 1,073,081 432,166 310,649 1,906,311 ; t . r o > c c s r ■ ■ -> 0 w ', 222.,18': 34.1,665 914,446 Deferred availability items 797,036 79,330 185,961 61,830 93,445 69,954 33,518 109,0 'a 44;549 15;,667 33,319 39,518 Other liabilities including accrued dividends 3,102 353 713 277 348 304 155 364 128 107 105 114 134 TOTAL LIABILITIES 23,028,592 1,447,137 10,424,285 1,321,393 1,714,561 786,536 541,637 3,296,701 656,405 395,951 589,081 417,357 1,437,548 C A P I T A L A C C O U N T S Capital paid in 139,550 9,344 51,496 11,885 14,367 5,407 4,783 14,6/0 4,242 2, 975 4,501 4,252 Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 22,024 4,>v.5 3, ] 52 3,01-3 3 y 974 Surplus (Section 13b) 26,785 2,874 7,070 4,393 1,007 3,244 713 1,429 533 1,OOn 1.1'^8 1,263 Other capital accounts 47,34-3 2,481 13,086 3,029 4,561 1,994 2,323 0 ,468 "1 O// H 524 1,912 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,399,335 1,472,742 10,552,384 1,355,844 1,748,819 802,428 555,181 3,344,062 668,049 405,602 600,312 42,8,758 1, Commitments to make industrial rV advances 5,125 182 66 5 259 745 530 — O 228 44 35 4 MATURITY DISTRIBUTION OF E¡ILLS JÏÏÏD SECl’FJTTES Within 16 to 31 to 61 to 91 days to 6 norths Yea " 2: Yenrr, to Over Total I2_âsxâ 30 days 60 days 90 days 6 months to 1 Year to 2 lairs 5 Year3 5 Years Bills discounted 2,268 I > 6*+4 146 oi n 117 145 6 - - - — — — Industrial advances 7,854 1,363 132 402 121 931 1,188 1,^07 2,330 — U. S. Government securiti;j S J> direct and guaranteed 2,184,100 -- 74,800 --- — — 115,300 43,000 181,800 633 >400 1,135,800 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATEMENT OH FEBRUARY 19, 1941 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy* Dallas San Fran. ?ederal Reserve notes t Issued to F.R.Bank by F.R.agent 6,24),928 499,486 1,641,834 434,696 571,069 298,574 217,4-62 1,308,875 233,300 163,043 222,394 107,449 542,746 Held by Federal Reserve Bank 2.97,848 21,2.68 77,168 20,802 23,382 14,462 20,1.47 27,776 9,652 5,050 8,402 10,443 59,296 In actual circulation 5,943,080 478,218 1,564,666 413,894 547,687 284,112 197,315 1,281,099 22.3,648 157,993 213,992 97,0n6 483,450 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 6,366,500 510,000 1,660,000 440,000 576,000 315,000 225,000 1,320,000 244,000 165,500 225/00 112,000 574,000 Eligible paper 2,089 ~ — 1,052 471 — — 18 — — — — 1<4 374- — — - — Total collateral 6,368,589 510,000 1,661,052 440,471 576,000 315,018 225,000 1,320,000 244,000 165,674 225,374 112,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis