H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fora F. H. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday nv ruing, March 28 5 of the Federal Reserve System not earlier. March 27, 1941 CONDITION OF THE FEDERAL RESERVE BMKS Daring the week ended March 26 member bank reserve balances decreased $108,00(.',000* Reductions in member bank reserves arose from increases of $16,000-000 in money in circulation, $22,000,000 in Treasury cash, and $66,000,000 in nomember deposits and other Federal Reserve accounts, and a decrease of $38,000,000 in Reserve Bank credit, offset -in part by increases of $24,000,000 in gold stock and $4,000,000 in Treasury currency, and a decrease of $7,000,000 in Treasury deposits with Federal Reserve Banks. Excess reserves of member banks on March 26 v/ere estimated to be approximately $6,010,000,000, a decrease of $100,000,000 for the week. Changes in member bank reserve balances and related items during the v/eek and the year ended March 26, 1941, vrere as follows* Increase or decrease since March 26, March 19, March 27, 1941 1941 1940 (in millions of dollars) Bills discounted 1 — - 1 U. S, Government direct obligations 2,179 - 284 — U. S. Qovcrment guaranteed obligations 5 - 7 — .Industrial advances (not including 7 million coisru tnant 3 - March 26) 8 __ « 2 Other heserve Bank credit 27 38 + 5 Total Reserve Bank credit 2,2.21 38 289 Gold stcck. 22,359 + 24 + 3 ? 946 Treasury currency • 3 s 108 + 4 118 Member bank reserve balances 13,633 - 108 + 1,339 Money in circulation 8,842 + 16 + 1,371 Treasury cash. 2,230 + 22 - 152 Treasury deposits with F. R. Banks 906 7 + 206 Nonmeraber deposits and other F. R. accounts 2,076 + 66 + 1,012 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R, 283-a Released for publication Friday morning, March 28, 1941; not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since1 March 26, March 19, Llarch 27, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U, S. Treasury 20,102,279 - 1,002 +4,054,661 Redemption fund - F. R. notes 10,570 344 + 2,331 Other cash 341,056 +.8jl§22 - 31,206 Total reserves 20,453,905 + 7,547 +4,025,786 Bills discounted1 Secured by U. S. Gov’t obligations, direct and guaranteed 882 + 74 + 404 Other bills discounted 416 .+ .. ... 51 - . „1*196 Total bills discounted 1,298 + 127 792 Industrial advances 7,957 + 63 2,526 U, S*Govemment securities, direct and guaranteed» Bonds 1,334,800 — 7,245 llotes 849,300 •w— ~ 383,925. Total U. S. Government securities« direct and guaranteed 2,184,100 —— - 291,170 Total bills and securities 2,193,355 + 190 *■* 294,488 Due from foreign banks 47 — — F. R. notes of other banks 20,089 - 1,424 + 398 Uncollected items 772,538 -211,611 + 29,262 Bank premises 39,902. 24 1,769 Other assets 46,791 + 588 - 11,214 T O T A L A S S E T S 23,526,627 -204,734 +3,747,975 L I A B I L I T I E S Ir. R. notes in actual circulation 6,079,444 + 16,383 +1,180,327 Deposits* ¿.lembor bank - reserve account 13,632,769 -107,870 +1,330,767 U. S. Treasurer - General account 906,276 - 6,538 + 206,399 Foreign 1,168,152 - 6,555 + 773,079 Other deposits 619,609 + 72,888 + 206,788 Total deposits 16,326,806 - 48,075 +2,525,033 Deferred availability items 745,190 -173,583 + 23,637 Other liabilities including c.ccrucd dividends 4,087 + ...-199 — 284 TOTAL LIABILITIES 23,155,527 - 204*876 +3,723,713 C A P I T A L A C C O U N T S Capital paid in 139,795 + 78 + 3,663 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785- — 54 Other capital accounts 47,455 + 64 + 10,308 TOTAL LIABILITIES MD CAPITAL ACCOUNTS 23,526,627 -204,734 +3,747,975 Ratio of total reserves to deposit and F. R. note liabilities combined 91.3% + • 2% + 3.5% Comiuiti.ients to make industrial advances 7,315 + 27 909 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-* STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 26. 1941 (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 20,102,279 1,242,741 9,646,515 1,154,089 1,399,422 615,443 437,970 2,884,059 446,220 323,557 442,180 311,395 1,198,688 Redemption fund — F.R.notes 10,570 781 1,270 403 606 1,718 1,214 1,547 510 225 263 922 1,111 Other cash 341,056 25,086 89,769 28,588 22,426 16,003 22,270 48.456 lb,656 7,436 17,216 14,577 32,573 Total reserves 20.453.905 1,268.608 9,737,554 1,183,080 1,422,454 633,164 461/54 2,934,062 463,386 331,218 459,659 326,894 1,232,372 Bills discounted* Secured by ü. S. Gov*t obligations, direct and guaranteed 882 — 605 22 — 33 — 41 — 139 32 10 — Other bills discounted 4l6 — 104 16 49 --- 10 37 --- 31 169 — — — Total bills discounted 1.2,98 709 38 4-9 33 10 78 -- 170 201 10 - — Industrial advances 7,957 908 1,752 2,282 211 755 350 353 2 446 72 277 549 U. S. Government securities, direct and guaranteed* Bonds 1,33-4,800 96,855 386,550 106,854 131,580 73,323 55,681 149,675 63,032 40,857 67,039 53,069 110,285 Motes 849,300 61,626 245,953 67,988 83,723 46,653 35,428 95,235 40,106 25,995 42,656 33,766 70,171 Total U. S. Govft securities, direct and guaranteed p;l843inn 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 -193,355 159,389 634,964 177,162 215,563 120,764 91,469 245,341 103,140 67,468 109,968 87,122 181,005 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 20,089 502 1,820 1,024 1,248 3,151 3,162 2,482 1,400 557 1,778 572 2,393 Uncollected items 772,538 71,798 188,848 59,295 91,286 61,782 33,384 106,4-56 40,577 18,094 31,838 27,011 42,169 Bank premises 39,902 2,824 9,667 4,556 4,550 2,578 1,980 3.O3I 2,310 1,362 3,011 1,211 2,822 Other assets 40,791 3,187 12,994 4,094 5,010 2,895 1,910 4,933 2,028 1,436 2,203 1,929 4,172 T O T A L A S S E T S 23,526,627 1,506,311 10,585,865 1,429,216 1,740,115 824,336 593,361 3,296,311 612,842 420,135 608,450 444,740 .1,464,937 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

*‘orE F. R. 283~c state;.:ENT OF COU! (in thousands of dollars) L I A B I L I T I E S Total Boston New York Philo. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. P.. notes in actual cir­ culation 6,079,444 493,873 1,608,327 423,395 97,945 494,246 Deposits: Member bank-reserve acct. 13,632,769 797,104 7,215,019 738,338 237,049 776,171 U.S.Treasurer-General acet* 906,276 54,302 314,978 71,843 44,831 40,573 Foreign 1,168,152 58,317 656,600 76,721 72,766 34,010 27,683 94,912 23,728 17,401 22,937 60,140 Other deposits 619,609 9,141 484,729 20,987 14,827 6,944 6,050 17,356 10,790 7,120 4,282 28,582 Total deposits 16,326,306 918,864 8,671,326 907,889 1,051,550 457,462 348,020 1,837,394 330,990 233,'725 355,021 330099,,009999 990055,,446666 Deferred availability items 745,190 67,493 176,965 63,101 91,292 57,708 31,085 106,186 40,690 15,907 31,230 2266,,113311 37,412 Other liabilities including accrued dividends 4,087 452 1,030 363 434 368 172 493 139 i4o 144 156 196 TOTAL LIABILITIES 23,155,527 ,480,682 10,457,648 1,394,748 1,705,857 808,425 579,782 3,248,913 601,144 410,463 597,214 433,331 C A P I T A L A C C O U N T S Capital paid in 139,795 9,350 51,573 11,891 14,381 5,428 4,796 14,680 4,259 3,005 4,504 4,263 Surplus (Section 7) 10,906 56,447 15,144 14,323 5,247 5,725 22,824 4,92 5 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 47,455 2,499 13,127 3,040 4,547 1,992 2,345 8,465 1,981 2,515 1,989 1,909 3,046 TOTAL LIABILITIES AND CAPITAL ACCCU1TTS 23,526,627 1,506,311 10,585,865 1,429,216 1,740,115 824,336 593,3^1 3,296,311 612,842 420,135 608,458 444,740 1,464,937 Commitments to sake industrial advances 7,315 178 1,582 362 1,683 801 — 6 176 44 35 4 2,444 LIATURITY DISTRIBUTIOII OF BILLS AuD SECURITISS Within 16 to 31 to 6l 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 1,298 984 69 71 53 106 15 — — — Industrial advances 7,957 1,198 273 143 123 836 1,279 1,827 22,,;278 — U. S. Government securities, direct and guaranteed : ,184,100 58,300 57,000 127,800 107,000 633,400 1,200,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-d FEDERAL RESERVE HOTS STATEMENT ON I.IAE0H 26. .19-41 (in thousands of dollars) Total Boston New York Filila, Cleve, Rich, Atlanta Chicago St,Louis 1'inn, Kans,Cy. Dallas San Fran, Foderai Reserve notes» Issued to F.R. Bank by F.R.Agent 6,387,733 513,635 1,684,122 44-2,508 585,580 305,207 224,314 1,33S,118 241,899 165,401 219,923 110,361 556,659 Held by Federal Reserve Bank 308,289 19,762 75,795 19,113 23,005 12,320 23,809 33»278 12,574 4,710 9,094 12,416 62,413 In actual circulation 6,079,444 493,873 1,608,327 423,395 562,581 292,887 200,505 1,30-4,840 229,325 160,691 210,829 97,945 494,246 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S, Treasury 6,504,000 530,000 1,700,000 450,000 585,000 325,000 230,000 1,350,000 24v.000 167,000 22^,'j. 0 116,000 574,000 Eligible paper 1,138 — 709 3S — 33 ~ — ~ 170 180 Total collateral 6,505,138 530,000 1,700,709 450,038 588,000 325,033 230,000 1,350,000 24-9,000 167,170 225,1.^ 116,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis