H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fon* F. R. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors ¿riday morning, March 14-; of the Federal Reserve System not earlier. Llarcli 13, 19-41 OOIIDITIOi'I OF THE FEDERAL RESERVE BANKS During the week ended March 12 member bank reserve balances increased ¿75,000,000. Additions to meaber bank reserves arose from increases of $81,000,000 in sold stock, $7,000,000 in Reserve Bank credit, and $3,000,000 in Treasury currency, and a decrease of $24,000,000 in nonmeraber deposits and other Federal P.eserve accounts, offset in part by increases of $30,000,000 in Treasury deposits with Federal Reserve Banks, $6,000.000 in money in circulation, mid $4,000.000 in Treasury cash. Excess reserves of member bonks on March 12 were estiwatfid to be appro>a.;nately $6,480,000,000, an increase of $40,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended March 12, 3.941, were as follows* Increase or decrease since March 12, March 5, March 13, 1941 1941 ' 1940 (In milli^n? of do 13.ars) T Bills discounted 1 1 2 U. S. Gov’t securities,direct and guaranteed 2,184 — - 293 Industrial advances (not including 7 million connitments - March 12.) 8 -— - 2 Other Reserve Bank credit 51 + 8 17 ... Total. Reserve Bank credit 2,244 + 7 280 Gold stock 22,318 + SI + 4,036 Treasury currency 3,106 + 3 + 121 I.:ember bank reserve balances 14,211 + 75 + 1,772 Lioney in circulation 8,811 + 6 + 1,348 Treasury cash 2,196 + K - 166 Treasury deposits with F. R. Banks 421 + 30 - 105 Ilonncmber deposits and other F. R. accounts 2,028 — 2Ä + 1,027 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. R. 283-a Released for publication Friday morning, March l4,194l; not earlier, STATEMENT OF CONDITION OF THE TWELVE FED2RAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Mar. 12, Mar. 5, Mar. 13, 1941 1941 1940 A S S E T S Gold certificates on hand and and due from U. S. Treasury 20,103,279 + 73,033 +4,170,658 Redemption fund - F. R. notes 10,914 + 670 + 1,554 Other cash 327,660 + 7,371 - 34,878 Total reserves 20,441,853 + 81,574 +4,137,334 Bills discountedt Secured by U, S. Gov’t obligations, direct and guaranteed 94l 712 + 572 Other bills discounted 411 180 2,209 Total bills discounted 1,352 892 1,637 Industrial advances 7,881 + 166 2,542 U, S. Government securities, 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 2,193,333 726 - 297,349 Due from foreign banks 47 — — F.R. notes of other banks 21,874 + 311 + 3,390 Uncollected items 861,916 - 26,732 + 149,749 Bank premises 39,896 — 1,807 Other assets 57,606 + 3,368 11*934 T O T A L A S S E T S 23,616,525 + 57,795 +3,979,383 L I A B I L I T I E S F. R. notes in actual circulation 6,047,336 + 7,636 +1,165,582 Deposits: Member bank - reserve account 14,210,842 + 74,775 +1,772,262 U. S. Treasurer - General account 421,423 + 30,737 - 104,964 Foreign 1,163,143 + 42,0'.'6 + 798,737 Other deposits 585.202 — 66,043 + 195,326 Total deposits 16,380,610 + 81,555 +2,661,361 Deferred availability items 811,340 - 34,556 + 132,895 Other liabilities including accrued dividends — ..6 »364 + .JhPp4 88 T O T A L L I A B I L I T I E S 23,245,650 + 57,689 +3»959,750 C A P I T A L A C C O U N T S Capital paid in 139,671 + 42. + 3,569 Surplus (Section 7) 157,065 + 5,345 — Surplus (Section 13b) 26,785 — 54 Other capital accounts 47,354 + 64 + 10,773 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,616,525 + 57,795 +3>979,383 Ratio of total reserves to deposit and F, R. note liabilities combined 91.1/o + 3.4^ Commit r.ents to make industrial advances 6,561 + 668 2,519 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28j-~b STATEHEHT CF CONDITION OF THE FEDERAL RESERVE BALIKS 013 MARCH 12, 1941 (ln thousands of dollars) A S S E T S Total Boston New York . Phila. Cleve. Rieh. Atlanta Chicago St. Louis Ilinn. ICans.C:/. Dallas San Pr an. Gold certificates on hand and due from U. S. Treasury 20,103,279 1,251,72.9 9,779,928 1,072,386 1,412,585 611,588 413,013. 2,857,085 455,982 314,797 428,571 300,616 1,205,001 Redemption fund-F.R. notes 10,914 840 1,519 491 678 1,389 1,250 1,635 .52.6 233 279 1,141 Other cash 327,660 24,485 86,662 2.5,655 22,292 15,210 21,924 47,751 15,500 6,687 16,496 13,84? 31,151 Total reserves 20,441,853 1,277,054 9,868,109 1,098,532 1,435,555 628,187 436,185 2,906,471 472,008 321,717 445,346 315,396 1,237,293 Bills discountedi Secured by U. S. Govlt obligations, direct and guaranteed 941 510 136 43 71 — I39 42 — — — — — Other bills discounted 411 — 56 8 50 — 3.1 14 40 232. — — — Total bills discounted 1,352 — 566 144 50 43 13. 85 — , 179 274 — — Industrial advances 7,881 912 1,752 2,293 211 766 340 360 2 372 72 277 524 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 39,320 64,518 51,073 106,137 Notes 899,500 65,269 260,490 72,007 88,671 ¿9,410 37,522 100,864 42,477 27,532 45,177 35,762 74,31$ Total U* S. Gov*t securities 9 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 86,835 130,456 • Total bills and securities 2,193,333 159,393 634,821 177,279 215,564 120,785 91,460 245,355 103,140 67,403 110,041 87,112 180,980 Due from foreign banks 47 3 18 5 4 2 2 6 1 * H 1 4 F. R. notes of other banks 21,874 469 2,204 1,037 1,562 3,871 2,605 2,818 1,434 962 1,465 833 2,6l4 Uncollected items 861,916 81,271 206,826 59,561 104,915 67,104 37,225 121,173 51,304 17,372 33,819 32,084 49,262 Bank presid.se s 39,896 2,824 9,667 4,526 4,562 2,578 1,904 3,029 2,311 1,362 3,011 1,211 2,831 Other assets 57,6o6 3,814 15,447 7,317 5,816 3,321 2,207 5,863 2,422 1,695 ?.,6l8 2,223 4,863 T O T A L A S S E T S 23,616,525 1,524,828 10,737,092 1,348,257 1,767,978 825,848 57L,66C 3,284,715 632,620 410,511 596,301 438,860 1,477,847 *Less than $500* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

form T. R. 2Sy-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 12, 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 F. R. notes in actual cir­ culation 6,047,336 489,198 1,594,992 421,382 559,351 290,417 2,00,780 1,296,937 227,471 Deposits! Llember bank-reserve acet. 1-4,210,842 841,050 7,547,480 716,499 972,850 397,958 277,252 1,676,582 265,929 ’83,320 U.S.Treasurer^-General acct. 421,423 25,085 164,668 14,585 20,242 16,035 11,485 39,941 42,580 30,388 For eign 1,163,143 57,574 665,741 74,454 70,616 33>005 26,865 92,107 2.3,027 58,350 Other deposits $85,202 6,888 455,000 23,969 11,708 5,702 5,940 15,252 10,921 31,118 Total deposits 16,380,610 930,597 8,832,889 829,507 1,075,416 452,700 321,542 1,823,882 342,457 225,356 34),565 297,523 908,176 Deferred availability items 811 -,340 79,026 180,107 60,076 98,537 66,498 35,606 116,062 50,861 15,294 32,873 30,721 45,679 Other liabilities including accrued dividends 6,364 402 988 2,837 4l4 351 167 440 152 133 131 142 207 TOTAL LIABILITIES 23,245,650 1,499,223 10,608,976 1,313,802 1,733,718 809,966 558,095 3j237,321 620,941 400,866 585,056 427,454 1,450,232 C A P I T A L A C C O U N T S Capital paid in 139,671 9,351 51,517 11,887 14,380 5,412 4,794 14,675 4,250 2,976 4,2.62 11,664 Surplus (Section 7) 10,906 56,4,47 15,144 14,323 5,247 5,725 22,824 4,925 3,152 3,613 3,974 10,785 Surplus (Section 13b) 26,78*5 2,874 7,070 4,393 1,007 3,244 713 1,429 533 1»000 1,138 I-263 2,121 Other capital accounts > 2,474 13,082 3,031 4,550 1,979 ? 341 8,4-66 1,971 2,517 1,991 1^907 3,045 TQTAL LIABILITIES AND CAPITAL ACCOUNTS 23,6: 524,828 10,737,092 1 Commitisents to make industrial 'advances ,561 Bills discounted 1,352 Industrial advances 7,881 U, S. Government securities, direct and guaranteed 2,184,100 C' \ $ c\ 02 fc «—i ,767,978 82.5,848 571,668 3,284,715 632,620 410,511 596,301 438,860 1,477,847 178 1,584 396 1,143 611 — g 167 43 35 h 2,392 MATURITY DISTRIBUTION OF BILLS AHD SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years 980 83 112 72 97 rj. — — — 1,054 464 I38 125 921 1,209 1,756 2,214 —M— 74,800 — 115,300 >43 ? 'JOG 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 IiOTE STATEMENT CH LLARGII 12, 1941 (ln. thousands of dollars0) Total Boston New York Phila. Cleve. Rieh. Atlanta Chicago St.Louis Kinn. Kons.Cy. Dallas Son Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 6,347,243 503,813 1,676,494 440,785 581,587 303,340 220,944 1,332,209 241,474 165,001 220,610 109,441 551,545 Held by Federal Reserve Bank 299,907 14,615 81,502 19,403 22,236 12,923 20,164 35,272 14,003 4,915 9,123 10,373 55,375 In actual circulation 6,047,336 489,198 1,594,992 421,382 559,351 290,417 300,700 1,296,93? 227,471 160,083 211,487 99,068 496,170 Collateral held by agent as ■ security for notes issued to banlc: Gold certificates on hand and due from U. S. Treasury 6,455,500 510,000 1,690,000 450,000 583,000 32.5,000 225,000 1,350,000 244,000 165,500 225,000 114,000 574,000 Eligible paper 1,206 — 566 144 — 43 — “ 179 274 — — Total collateral 6,456,706 510,000 1,690,566 450,144- 583,000 325,043 225,000 1,350,000 244,000 165,679 225,274 114,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis