H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Released for publication Board of Governors Friday morning, March 215 of the Federal Reserve System not earlier. Liar eli 20, 19-41 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended ¿.larch 19 member bank reserve balances decreased $470,000,000. Reductions in member bank reserves arose from increases of $492,000,000 in Treasury deposits with Federal Reserve Banks, $15,000,000 in money in circulation, and $12,000,000 in Treasury cash, and a decrease of 32,000,000 in Treasury currency, offset in part by increases of $17,000,000 in gold stock and $15,000,000 in Reserve Bank credit, and a decrease of $18,000,000 in nonmeiaber deposits and other Federal Reserve accounts. Excess reserves of member banks on ¡.larch 19 were estimated to be approximately $6,110,000,000, a decrease of $370,000,000 for the week. The principal change in holdings of bills and securities was an increase of $50,000,000 in holdings of United States Government bonds and a decrease of $50,000,000 in United States notes. Changes in member bank reserve balances and related items during the week and the year ended March 19, 1941, were as follows: Increase or decrease since Mar. 19, Mar. 12, Mor. 20, 1941 1941 1940 (In millions of dollars) Bills discounted 1 — - 1 U.S. Gov't securities, direct and guaranteed 2,184 —• 291 Industrial advances(not including 7 million commitments - March 19) 8 — - 2 Other Reserve Bank credit 65 + 14 + 33 Total Reserve Bank credit 2,259 + 15 _ 261 Gold stock 22,335 + 17 + 3,975 Treasury currency 3,104 2 + 115 Member bank reserve balances 13,741 470 + 1,485 Money in circulation 8,82.6 + 15 + 1,342 Treasury cash 2,208 + 12 - 166 Treasury deposits with F. R. Banks 913 + 492 + 206 Ilonma.iber deposits and other F. R. accounts 2,010 — 18 + 963 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. R. 283-a Released for publication Friday morning, March 21, I94if not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decreo.se since March 19, March 12, 1.1 or ch. 20, 194-1 1941 1940 A S S E T S Gold certificates on hand and due from U. S. Treasury 20,103,281 + 2 +4,105,659 Redemption fund - F. R. notes 10,914 — + 2,580 Other cash ..^312*162 + 4,503 "... 29*622 Total reserves 20,446,3 58 + 4,505 <*4,078,616 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed: 808 133 + 474- Other bills discounted ... -362 4S - ..1*269 Total bills discounted 1,171 181 795 Industrial advances 7,894 + 13 2,6o4 U. S. Government securities, direct and guaranteed! Bonds 1,334,800 + 50,200 7,245 Hotes 849,300 - 50,200 - 283,925 Total U, S. Government securities, direct and guaranteed 2,184,100 —— - 291,170 Total bills and securities 2,193,165 168 - 294,569 Due from foreign banks 47 — — F. R« notes of other banks 21,513 361 + 3,909 Uncollected items 984,149 +122,233 + 263,114 Bank premises 39,926 + 30 1,763 Other assets 46,203 - 11,403 - 10,878 T O T A L A S S E T S 23,731,361 +114,836 +4,038,429 L I A B I L I T I E S F, R. notes in actual circulation 6,063,061 + 15,725 +1,168,013 Deposits: l.ieisber bank « reserve account 13,740,639 -470,20.3 +1,434,389 U* S. Treasurer - General account 912,814 +491,391 + 205,321 Foreign 1,174,707 + 11,564 + 783,927 Other deposits 546,721 - 38 5 431 + 146,935 Total deposits 16,374,831 - 5,729 +2,620,572 Deferred availability items 918,773 +107,433 + 230,137 Other liabilities including accrued dividends ____ ^688 - 2,676 +.... .3.54 TOTAL LIABILITIES 23,360,403 +114,753 +4,019,076 C A P I T A L AC CO UN./TS Capital paid in 139,717 + 46 + 3,610 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 --- 54 OVner capital accounts 47,391 + .37 + 10,452 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,731,361 +114,836 +4,038,429 Ratio of total reserves to deposit and F.'P., note liabilities combined 91.155 — + 3.3% Cornnitnents to make industrial advances 7,288 + 727 1,792 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F« R. 2ß3“b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OIT LIARCH 19, 1941 (ln thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Lduis l.Iinn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 1,259,166 9,663,398 1,134,475 1,421,543 607,491 42?,283 2,883,774 437,762. 317,985 434,131 314,871 1,200,397 20,103,231 Redenption fund - F.R.notes 10,9^4 840 1,519 491 678 1,389 1,250 1,635 526 233 279 933 1,1/1 Other cash 332,163 24,475 82,040 27,437 22,822 18,434 23,928 46,576 15,968 7,067 18,2.80 13,590 31,546 Total reserves 20,446,353 1,284,481 9,751,957 1,162,403 1,445,043 627,314 443,466 2,931,985 454,256 325,285 452,690 329,394 1,233,084 Bills discounted»- Secured by U.S. Gov't obligations, direct and guaranteed g03 — 380 136 — 35 — 76 — 139 42 — — Other bills discounted ^63 — 79 21 49 — 11 22 — 4o 141 — — Total bills discounted 1,171 — 459 157 49 35 11 98 — * 179 I83 — — Industrial advances 7,894 910 1,752 2,276 212 756 350 355 2 361 72 277 571 U. S. Government securities, direct and guaranteed! Bonds 1,334,800 96,855 386,550 106,854 131,580 73,323 55,681 149,675 63,032 40,857 67,039 53,069 110,2.85 Notes 849,300 61,626 245,953 67,988 83,723 46,653 35,423 95,235 4o,io6 25,995 42,656 33,766 70,171 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 86,835 180,456 159,391 634,714 177,275 215,564 120,767 91,470 .245.363 103,140 67,392 109,950 87,112 181,027 Due from foreign banks 47 3 18 5 4 2 6 1 * 1 1 4 F. R. notes of other banks 21.513 454 1,737 1,047 1,468 3,657 3,104 3,101 2,330 482. 1,515 519 2,099 Uncollected items 984^149 91,328 228,685 64,839 116,196 94,632 47,656 142,924 47,581 19,935 37,026 34,954 58,393 Bank premises 39,926 2,824 9,667 4,556 4,562 2,578 1,984 3,029 2,311 1,362 3,011 1,211 2,831 Other assets 46,203 3,169 12,704 4,085 4,946 2,819 l,96o 4*890 2,004 1,421 2,171 1,901 4,133 T O T A L A S S E T S 23,731,3611,541,650 10,639,482 1,414,210 1,787,783 851,769 594,642 3,331,298 611,623 415,877 606,364 455,092 1,481,571 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. fi. 283-c STATEDISI-IT OF CONDITION OF THE FEDERAL RESERVE BAIiXS OU LIARCH[ 19, 1941 (In tllousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta ‘Chicago St,Louis! I'dnn. ICans.Cy.> Dal._as San Fran. P. R. notes in actual cir­ culation 6,063,061 492,163 1,603,271 421,441 558,758 292,734 201,292 1,301,020 228,190 160,211 211,892 98,621 493,468 Deposits : I.-ember bank-reserve acct. 13,740,639 815,833 7,300,193 721,807 928,553 386,762 268,893 1,503,097 257,743 169,238 286,455 237,379 784,686 U.S.Treasurer-General acct. 912,814 55,077 329,203 71,429 69,744 27,921 29,044 158,563 31,055 34,582 27,485 45,826 32,885 Foreign 1,174,707 57,892 668,015 75,970 72,054 33,677 27,412 93,983 23,496 17,230 22,713 22,713 59,552 Other deposits 546,721 5,682 420,710 23,758 12,134 5,209 5,451 14,322 10,699 7,007 8,384 3,892 2.9,473 Total deposits 1^*74,881 934-,484 8,718,121 892,964 1,082,485 453,569 330,800 1,849,965 322,993 228,057 345,037 309,810 906,596 Deferred availability items 918,773 88,979 188,972 65,033 111,877 89,223 48,817 132,497 48,621 17,844 38,080 35,120 53,710 Other liabilities including accrued dividends 3,688 412 960 315 406 332 157 420 133 120 120 133 180 TOTAL LIABILITIES 23,360,4031,516,038 10,511,324 1,379,753 1,753,526 835,858 581,066 3,283,902 599,937 406,232 595,129 443,684 1,453,954 C A P I T A L A C C 0 IJ II T S Capital paid in 139,717 9,350 51,530 11,386 14,381 5,425 4,795 1A, v-) i 4,255 2,977 4,504 4,263 11,665 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 47,391 2,482 13,103 3,034 4,546 1,995 2,343 8,4(65 1,973 2,516 1,980 1,908 3,046 TOTAL LIABILITIES AIÎD CAPITAL ACCOUIITS 23,731,3611,541,650 10,639,402 1,4-14,210 1,787,783 851,769 594,642 3,331,29c' 611,623 415,877 606,364 455,092 1,481,571 Commitments to make industrial advances 7,288 178 1,582 398 1,738 701 — 0 177 44 35 4 < MATURITY DISTRIBUTION OF BILLS AITD SECURITIES Within 16 to 31 to 6l to 91 days to 6 nonths 1 Year 2 Year3 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 1,171 846 108 71 49 95 Industrial advances 7,894 1,311 184 163 111 916 1,177 1,812 2,220 TJ. S.1 Government securities direct and guaranteed 2,184,100 — 58,300 57,000 1.27,800 107,000 633,400 1,200,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R, 283—d FEDERAL RESERVE NOTE STATELIEST Oil I.IARCH 19, 194-1 (in thousands of dollars) Total Boston Her; York Phila. Cleve. Rich. Atlanta Chi-ago St.Louis Ilinn. Kans. Gy. Dallas San Fran. Federal Reserve notes* Issued to F.R. Bank by F.R.agent 6,369,331 507,856 1,681,4-98 44-1,021 582,380 306,780 223,283 1,334,924 242,969 164,795 220,277 108,577 554,971 Held by Federal Reserve Bank 306,270 15,693 78,227 19,580 23,622 14,046 21,991 33,904 14,779 4,584 8,385 9,956 61,503 In actual circulation 6,063,061 492,163 1,603,271 421,441 558,758 292,734 201,292 .1,301,020 228,190 160,211 211,892 98,621 493,468 Collateral held by agent as se­ curity for notes issued to bank! Gold certificates on hand and due from U. S. Treasurv 6,497,000 530,000 1,700,000 450,000 583,000 325,000 230,000 1,350,000 249,000 167,000 225,000 114,000 574,000 Eligible paper “ 1,013 — 459 157 — 35 — — — 179 IS3 — Total collateral 6,498,013 530,000 1,700,4-59 450,157 583,000 325,035 230,000 1,350,000 249,000 167,179 225,183 114,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis