H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT FOR THE] PRESS Released for publication Board of Governors Friday morning, April -4; of the Federal Reserve System not earlier, April 3, 194-1 CONDITION OF THE FEDERAL RESERVE 3A1IKS During the week ended April 2 member bonk reserve balances decreased $1275,000,000, Reductions in member bank reserves arose from increases of $102,000,000 in money in circulation, $139»000,000 in Treasury deposits with Federal Reserve Banks, and $21,000,000 in Treasury cash, offset in port by increases of $23,000,000 in Reserve Bank credit, $25,000,000 in gold stock and $2,000,000 in Treasury currency, and a decrease of $84,000,000 in noimsnber deposits and other Federal Reserve accounts. Excess reserves of member banks on April 2 were esti­ mated to be approximately $5,9-40,000,000, a decrease of $70,000,000 for the week. The principal change in holdings of bills and securities was an increase of $29,000,000 in holdings of United States Government bonds and a decrease of $29,000,000 in United States notes. Changes in member bonk reserve balances and related items during the week and the year ended Aprd^L 2, 1941, were as follows» Increase or decrease since April 2, March 26, April 3, 1941 1941 (in millions of do 12. Cl's) Bills discounted 1 2 J. S, Government direct obligations 2,179 - - 278 J. S, Government guaranteed obligations 5 —~ 5 Lndusta'ial aivancea (not including 7 millior eomnitnents - April 2) 8 ---- 2 )ther Reserve Bank credit 51 + 24 + 19 ?otnl Reserve Bank credit 2,244 + 23 - 2Ô3 Jold r.tock 22,384 + 25 +3,914 .’reasury currency 3,110 + 2 + 119 lembor bank reserve balances 13»506 - 127 +1,111 loncy in circulation 8,944 + 102 +1,423 .roasvry ca:;h 2.251 + 21 - 121 ?roasv.ry deposits vath F. ?.. Banks 1,045 + 139 + 353 •onr.;enber,deposits and other F, R, accounts 1,992 - 34 + 999 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Foru F. 28>-a released for publication Friday morning, April 4, 19-41; not earlier, STATS IEUT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since April 2, March 26, April 3, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U, S. Treasury 20,101,279 - 1,000 +3,999,660 Redemption fund - F. R. notes 10,483 82 + 2,365 Other cash .-321,880 - 17,176 5JL581 . ___ Total reserves 20,435,647 - 18,258 +3,950,442 Bills discounted» Secured by U. S. Gov’t obligations, direct and ituaranteed 612 270 — 464 Other bills discounted 429 +____11 — 1.246 Total bills discounted 1,041 257 1,710 Industrial advances 7,820 137 2,318 U. S. Government securities, direct and guaranteed» Bonds 1,363,800 + 29,000 •+ 26,305 Notes 820.300 - 29,000 “..J0.8i.92j5 . Total U. S. Government securities, direct and /guaranteed 2,184,100 — - 282,620 Total bills and securities 2,192,961 394 - 286,648 Due from foreign banks 47 — F. R. notes of other banks 21,956 + 1,867 + 3,958 Uncollected items 813,701 + 41,163 + 177,033 Bank premises 39,828 74 1,784 Other assets 47,285 + 494 - 10.972 T O T A L A S S E T S 23,551,425 + 24,798 +3,832,029 L I A B I L I T I E S F. R. notes in actual circulation 6,159,227 + 79,783 +1,224,591 Deposits* IJember bank - reserve account 13,505,824 -126,945 +1.110,364 U, S, Treasurer - General account 1,044,871 +138,595 + 352,794 Foreign 1,148,403 - 19,749 + 764,068 Other deposits 555,458 - 64,151 + 202,922 Total deposits 16,254,556 - 72,250 +2,430,148 Deferred availability items 762,787 + 17,597 + 158,246 Other liabilities including accrued dividends ...1x775 312 + 207 TOTAL LIABILITIES 23>180,345 + 24,818 +3,313,192 c a p i t a l a c c o u n t s Capitol paid in 139,809 + 14 + 3 ¡>664 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 — - 54 Other capital, accounts 47,421 34 + 9,882 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,551,425 + 24,798 +3,832.029 Ratio of total reserves to deposit and F.R. note liabilities combined 91.3% + 3*4% Coranitnents to make industrial advances 7,260 55 1,090 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-b STATS.SEIJT OF CONDITIO'.! OF THE FEDERAL T-SSERVE BAKKS OK APRIL 2. 1941 (in thousands of dollars) A S S E T S Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Kinn. Xans.Cy* Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 20,101*279 1,250,490 9,777,544- 1,176,311 1,418,946 611,586 432,306 2,724,017 433,916 322,903 445,808 308,771 1,198,681 Redemption fund - F.R.notes 10,483 737 1,064 1,323 532 1,339 1,112 1,473 491 2C5 236 898 1,078 Other cash 323,830 24,146 81,129 28,596 21,279 17,785 22,220 44,220 14,667 6,644- 17,928 13,578 31,688 Total reserves 20,435,647 1.275.373 9,859,737 1,206,230 1,440,757 630,710 455,638 2,769,710 449,074 329,752 463,972 323,247 1,231,447 Bills discounted» Secured by U.S. C-ov*t obligations, direct and guaranteed 612 85 250 27 — 43 — 26 — 139 32 10 — Other bills discounted 429 — — 140 14 49 — 10 36 — 20 137 23 — - Total bills discounted 1;n4i 85 390 41 49 43 10 62 159 169 33 ------- Industrial advances 7,820 905 1,743 2,280 199 755 249 345 ------ 446 72 277 549 U. S. Government securities, direct and guaranteed: Bonds 1,363,300 98,544 389,312 108,110 136,462 75,859 59,247 156,506 63,283 41,178 66,277 54,979 114,043 Notes 320,300 59,273 234,163 65,027 82,079 45,627 35,637 94,136 33,062 24,769 39,363 33,068 68,596 Total U. S. Gov*t securities. direct and guaranteed ? i 157,817 623,475 173,137 218,541 121,486 94,884- 250,642 101,345 65,947 106,140 88,047 182,639 Total bills and securities 2,192,961 158,807 625,608 175,458 218,789 122,284 95,143 251,04-9 101,345 66,552 106,381 88,357 183,188 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 21,956 408 1,701 1,030 1,488 3,406 4,122 2,694 2,235 155 2,001 64l 2,075 Uncollected items 813,701 76,994 195,124 58,113 96,449 62,716 33,433 121,184 43,370 18,770 34,968 27,387 45,193 Bank premises 39,323 2,819 9,64-9 4,545 4,550 2,572 1,980 3,023 2,309 1,360 2,995 1,204 2,822 Other assets 47,285 3,231 12,846 4,061 5,142 2,892 2,046 5,136 2,029 1,436 2,195 1,991 4,280 T O T A L A S S E T S 23,551,425 1,517,635 10,704.-683 1,449,442 1,767,179 824,582 592,364 3,152,302 600,363 418,025 612,513 442,828 1,469,009 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28y*c STATEHEHT OF CONDITIO!; OF THE FEDERAL RESERVE BAÎTKS ON APRIL 2, 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 !'inn. ICans.Cy. Dallas San Fran. F. R* notes in actual cir­ culation 6,159,227 501,487 1,631,181 427,121 565,045 296,559 205,393 1,317,637 232,017 162,423 214,602 101,774 503,188 Deposits : Member bank-reserve acct, 13,505,324 779,793 7,247,448 754,453 919,180 330,175 275,337 1,447,093 244:,569 163,116 286,751 230,809 769,100 U. 5. Treasurer-General acct .3,044,071 76,183 455,769 74,089 74,292 29,107 32,669 116,804 34,776 42,709 34,679 36,602 37,192 Foreign 1,143,4(03 56,004 634,441 77,530 73,524 34,364 27,971 95,901 23,975 17,582 23,176 23,176 60,769 Other deposits 555,458 4,266 435,769 21,768 7,548 8,423 5,803 12,613 9*303 5,717 8,449 4,450 31,269 Total deposits 16,254,556 916,246 8,773,427 927,830 1,074,544 452,069 341,780 1,672,411 3-12,703 229,124 353,055 303,037 898,330 Deferred availability items 762,787 73,866 170,849 59,693 92,909 59,711 31,528 114,927 43,019 16,670 33,495 26,468 39,652 Other liabilities including accrued dividends 3,775 441 983 321 411 340 96 432 121 I35 133 140 217 TOTAL LIABILITIES 23,180,345 1,492,040 10,576,440 1,414,965 1,732,909 808,679 578,797 3,105,407 580,660 408,352 601,290 431,419 1,441,387 C A P I T A L A C C O U N T S Capital paid in 139,809 9,350 51,570 11,891 14,384 5,428 4,796 14,602 4,266 3,005 4,504 4,263 11,670 Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 22,024 4,925 3,152 3,613 3,974 10,785 Surplus (Section 13b) 26,705 2,874 7,070 4,393 1,007 3,244 713 1,4,29 533 1,000 1,133 1,263 2,121 Other capital accounts 47,421 2,465 13,156 3,049 4,556 1,984 2,333 8,400 1,979 2,516 1,968 1,909 3,046 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,551,425 1,517,635 10,704,683 1,449,442 1,767,179 824,562 592,364 3,152,802 600,363 418,025 612,513 442,828 1,469,009 Commitments to make industrial advances 7 , 260 176 1,560 347 1,673 801 --- 6 176 44 35 4 2,438 MATURITY DISTRIBUTION OF BILLS JUJD SECURITIES TEL thin 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 days 10. A m * 60 days 90 days 6 nonths to 1 Year to 2 Years 5 Years 5 Years Bills discounted l?04l 779 46 56 58 97 5 Industrial advances 7,320 1,186 295 113 168 1,006 1,139 1,703 2,125 — TJ. S. Government securities, dirept and guaranteed 2,184,100 57,000 127,000 136,300 633,400 1,229,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. P.. 283-d FEDERAL RESERVE NOTE STATEMENT 015 APRIL 2, 1941 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R. Bank by F. R. Agent 6,444,451 524,911 1,701,563 444,604 584,439 310,081 222,805 1,347,947 245,513 166,736 221,518 109,438 564,846 Held by Federal Reserve Bank 285,224 23,424 70,382 17,483 19,394 13,522 17,462 12,696 4,313 6,916 61,658 30,310 7,664 In actual circulation 6,159,227 501,487 1,631,181 427,121 565,045 296,559 205,393 1,317,637 232,ri7 162,423 214,602 101,774 503,188 Collateral held by agent as se­ curity for notes issued to bank l Gold certificates on hand and due from U. S.Treasury 6,534,000 530,000 1,720,000 450,000 588,000 325,000 230,000 1,360,000 249,000.167,000 225,000 116,000 574,000 Eligible paper C04 85 390 41 — 43 — — — 159 166 — —- Total collateral 6,534,884 530,085 1,720,390 450,04l 588,000 325,043 230,000 1,360,000 249,000 167,159 225,3.66 116,000 574,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis