H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Released for publication Board of Governors Friday morning, Feb. 28; of the Federal Reserve System not earlier. February 27, 194l. CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 2.6 member bank reserve balances increased $154,000,000. Additions to member bank reserves arose from decreases of $111,000,000 in Treasury deposits with Federal Reserve Banks, $18,000,000 in Treasury cash, and $34,000,000 in nonmember deposits and other Federal Reserve accounts, and an increase of $39,000,000 in gold stock, offset in part by a de­ crease of $12,000,000 in Reserve Bank credit and an increase of $37,000,000 in money in circulation. Excess reserves of member banks on February 26 were esti­ mated to be approximately $6,540,000,000, an increase of $100,0^0-000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 2.6, 1941, were as follows» Increase or decrease since Feb. 26, Feb. 19, Feb. 28, 1941 1941 1940 (In millions of dc3liars) Bills discounted 3 + 1 4 U.S, Gov’t securities,direct and guaranteed 2,184 —— - 293 Industrial advances(not including 5 million commitments - February 26) 8 -- 3 Other Reserve Bank credit 28 I oHV - 15 Total Reserve Bank credit 2,2.23 - 12 - 314 Gold stock 22,179 + 39 +4,013 Treasury currency 3,101 - 1 + 121 ¡.¡ember bank reserve balances 14,175 +154 +1,857 Honey in circulation 8,725 + 37 +1,286 Treasury cash 2,204 - Is - 170 Treasury deposits with F. R. Banks 368 -111 - 193 Honmember deposits and other F. R. accounts 2,0 33 - 34 +1,041 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. I":. 2£j-a Released for publication Friday morning, February 28,194-1; not earlier. STATS IENT OF CONDITION OF THE THELVE FEDERAL RESERVE BANKS CCKBIHED (In thousands of dollars) Increase or decrease since Feb. 26, Feb. 19, Fob. 28, 1941 1941 3.940 A S S E T S Gold certificates on hand and due iron U. S.Treasury 19-961,281 + 58,503 +4,167,660 Redemption fund - F. R. notes 9,244 + 82 - 330 Other cash 227*781 - 1,660 - 29,674 Total reserves 20,308,306 + 56,925 +4,137,656 Bills disc ounted: Secured by U. S. Gov*t obligations, direct and guaranteed 2,092 + 447 + 1,530 Other bills discounted 625 + 2 - 5*242 Total bills discounted 2,717 + 449 - 3,562 —m Industrial advances 7,840 14 2,864 U. S.Government securities, direct and guaranteed* Bonds 1,284,600 59,445 Notes 899.500 — - .;m*725 Total U. S. Government securities , direct md guaranteed 2,184,100 — 293,170 Total bills and securities 2,194,657 + 435 *- 299,996 Due fron foreign banks 47 — F. P.. notes of other banks 20,672 - 2,717 — 91C Uncollected items 859,348 + 21,349 + 220,594 3.'ml: premises 39,952 47 - 1,789 Other assets + 902. 11,559 T O T A L A S S E T S 23,476,182 + 76,847 +4,043,596 L I A B I L I T I E S F. notes in actual circulation 5,976,775 + 33,695 +1,118,098 Deposits* ’.¡caber bank - reserve account 14,174,724 +154,155 +1j ,856,930 U.S.Treasurer - General account 367,887 -111,506 193,519 Foreign 1,132,043 + 1,963 751,199 Other deposits 619,386 Z-25*946 + 256,005 Total deposits 16,294,04(0 + 8,666 +2,,670,615 Deferred availability items 831,037 + 34,001 + 234,928 Other liabilities including accrued dividends . _3.a5.6l. + 459 + 421 TOTAL LIABILITIES 23,105,413 + 76,821 +4,024,062 c ¿ n i A ' i a c c o u n t s Capital paid in 139,586 + 36 + 3,505 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 — - 54 Other capital accounts 10 + 11,138 TOTAL LIABILITIES AUD CAPITAL ACCOUIaS 23,476,182' + 76,847 +4,043,996 Ratio of total reserves to deposit and ?. note liabilities combined 91.2% + .1% + 3.7% Commitments to make industrial advances 5,066 59 - 3,900 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

rorm F* R. 283—13 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 26, 1941 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due frora U.S.Treasury 19.961,2811,201,399 9,695,275 1,080,340 1,373,949 598,707 397,098 2,908,175 510,194 307,104 426,812 294,327 1,167,401 Redemption fund - F.R.notes ' 9,244 898 1,757 595 746 1,056 286 711 543 253 294 942 1,163 Other cash 337,781 27,513 85,447 26,630 '23,055 16,007 22,796 49,209 16,495 7,428 17,098 14,010 32,093 Total reserves 20 ?-308.^06 1,230.310 9,782,479 1,107,565 1,397,750 615,770 420,180 2,958,095 527,232 314,785 444,204 309,-79 1,200,657 Bills discountedt Secured by U. S. Gov’t obligations, direct and guaranteed 2,092 — 1,425 461 — 43 — 21 — 99 43 — - Other bills discounted 625 —— 176 23 53 — 11 19 — 75 268 “ - Total bills discounted 2,717 -- 1,601 484 53 43 11 40 — 174 311 -- -- Industrial advances 7,840 915 1,754 2,358 217 768 336 358 2 252 72 277 531 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 60,66l 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 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 2,194,657 159,396 635,858 177,684 215,573 120,787 91,456 245,308 103,140 67,278 110,078 87,112 180,987 * Due from foreign banks 47 3 18 5 4 2 2 6 1 1 1 4 F. R. notes of other banks 20,672 4o4 2,018 992. 1,431 4,540 3,354 2,283 1,431 693 1,186 627 1,713 Uncollected items 859,348 81,332 193,158 61,839 108,855 75,418 36,613 125,685 47,492 19,155 35,022 32,356 42,423 Bank premises 39,952 2,824 9,686 4,'526 4,562 2,578 1,984 3,035 2,315 1,365 3,027 1,219 2,831 Other assets 53,200 3,636 14,870 4,619 5,636 3,233 2,139 5,654 2,352 1,662 2,538 2.177 4,684 T O T U A S S E T S 23,476,182 1,477,905 10,638,027 1,357,230 1,733,811 822,328 555,728 3,340,066 683,963 404,938 596,056 432,771 .1,433,299 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-c STATE1'.ÎEI3T OF CONDITION OF’ THE FEDERAL RESERVE BAIIKS OH FEBRUARY 26, 1941 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlantai Chicago1 St.Loui.3 Minn. Kans. C:,r. Dallas San Fran. F. R, notes in actual cir­ culation 5,976,775 482,934 1,575,332 416,080 553,947 288,773 198,126 1,285,873 224,548 158,046 208,640 97,793 486,683 Deposits? I.'ember bank—reserve acct. 14,174,724 812,455 7,516,620 719,404 934,366 386,984 262,465 1,744,233 337,184 170,363 2.81,760 2.48,017 760,873 U.S.Treasurer-General acct. 367,807 15,551 123,068 19,936 21,096 16,600 14,620 11,827 29,363 26,994 26,195 17,006 25,631 Foreign 1,132,043 55,254 626,729 76,174 72,248 33,768 27,486 94,236 23,559 17,277 22,774 2?.,774 59,764 Other deposits 619,386 6,349 489,586 27,040 10,365 4,459 6,329 14,429 10,114 5,770 8,493 3,639 32,813 Total deposits 16,294,040 889,609 8,756,003 842,554 1,038,075 441,811 310,900 1,884,725 400,220 220,404 339,222 291,436 879,081 Deferred availability items 831,037 79,381 177,834 63,780 107,153 75,535 32,980 121,660 47,396 16,709 36,823 o-\ c\< c\ O O <T\ 39,783 Other liabilities including accrued dividends 3,561 381 790 363 381 335 158 450 154 129 137 138 ’ 145 TOTAL LIABILITIES 23,1055413 1,452,305 10,509,959 1,322,777 1,699,556 806,454 542,164 3,292,708 672,318 395,288 584,822 421,370 1,405,692 C A P I T A L A C Ç 0 U . N T S Capital paid in 139,586 9,349 51,509 11,887 14,368 5,408 4,788 14,646 4,243 2,975 4,502 4,252 11,659 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 47,333 2,471 13,102 3,029 4,557 1,975 2,338 8,459 1,944 2,523 1,981 1,912 3,042 TOTAL LIABILITIES ALÏD CAPITAL AC00UÏITS 23,476,182 1,477,905 10,638,087 1,357,230 1,733,811 82.2,328 555,728 3,340,060 683,963 404,938 596,056 432,771 1,433,299 Commitments to make industrial advances 5,066 182 665 255 752 528 — 11 :—1 \0 to 35 4 2,423 MATURITY DISTRIBUTION! OF BILLS ai:d 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 Ye.irs 5 Years Bills discounted 2,717 2,211 83 185 103 127 8 — — — Industrial advances 7,840 1,355 148 396 114 927 1,184 1,391 2,325 ~— U, S. Government securities, 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 BOTE STATSIEIJT OK FEBRUARY 2.6, 194-1 (In thousands of dollars) Total Boston Hew York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notest Issued to F.R.Bank by F.R.a^ent 6,259,262 497,349 1,6^5,632 436,413 574,383 303,133 220,431 1,315,696 233,058 162,573 218,031 107,148 539,850 Held by Federal Reserve Bank 282,487 14,415 70,300 20,338 20,941 14,360 22,305 29,323 13,510 4,532 9,441 9,355 53,167 In actual circulation 5,976,775 482,934 1,575,332 4l6,03C 553,947 233,773 198,126 1,235,873 224,548 158,046 208,640 97,793 486,683 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 6,336,500 510,000 1,670,000 440,000 576,000 315,000 225,000 1,330,000 2.44 ,000 165,500 225,000 112,000 574,000 Eligible paper 2,549 — 1,537 484 — 43 — — — 174 3H — — Total collateral 6,389,049 510,000 1,671,537 440,484 576,000 315,043 225,000 1,330,000 244,000 165,674 225,311 112,Ono 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis