H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATE.OÎT FOR THE PRESS Released for publication Board of Governors Friday morning, May 9; of the Federal Reserve System not earlier. May 8, 19-41 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 7 member bank reserve balances decreased $84,00' ¡,000, Reductions in member bank reserves arose from increases of $80.00',000 in money in circulation, $9,000,000 in Treasury cash and $75,000,000 in nonceraber deposits and other Federal Reserve accounts and a decrease of $5,000,000 in Reserve Bank credit, offset in part by increases of $20,000,000 in gold stock and $3,000.000 in Treasury currency and a decrease of $61,000,000 in Treasury deposits with Feeler cl Reserve Banks, Excess reserves of member banks on May 7 vie re estimated to be approximately $5,710,000,00", a decrease of $60,000,000 for the week. Changes in member bank reserve balances and related items during the v/eek and the yerr ended May 7, 19-41, were as follows« Increase or decrease since May 7, April 30, T — i w n *;• ° : 1941 1941 1940 (In millions of doll;:rs) Bills discounted 1 - 1 _ 2 U. S. Government direct obligations 2,179 — - 278 U. S. Government guaranteed obligations 5 ~mmm 5 Industrial advances (not including 11 million commitments - May 7) 8 - 1 Other Reserve Bank credit 35 - 5 + 6 Total Reserve Bank credit 2,229 - 5 - 278 Gold stock 22,525 + 20 +3?690 Treas ury currency 3,125 + 3 + 121 Member bank reserve balances 13 »440 — 8A + 563 Honey in circulation 9,151 + 80 +1,562 Treasury cash 2,292 + 9 - 17 Treasury deposits with F. R.Banks 804 - 61 + 292 Nonmonbcr deposits and other F*R,accounts 2,193 '+ 75 +1,135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. R. 283-a Released for publication Friday morning, May 9,1941; not earlier, STATEMENT OF CONDITION OF TIIE T7JELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 7, April 30, May 8, . 1941 1941 1940 A S S E T S Gold certificates on hand and ■ ■ n due from U, S. Treasury 20,202,772 + 10,040 ,705,795 Redemption fund - F. R, notes 10,104 1,035 + 1,017 Other cash 315,002 - 14,442. - 51,074 Total reserves 2.0,527,878 5,437 +3,655,738 Bills discounted* Secured by U. S. Gov*t obligations, direct and guaranteed 850 — 436 + 108 Other bills discounted 641 + 9 — 1,412 Total bills discounted 1,491 - 4 27 - 1,304 Industrial advances 8,059 + 510 1,237 U. S. Government securities, direct and guaranteed* Bonds 1,363,800 + 26,305 — Notes 820,300 — - 308,925 Total U. S. Government securities, direct and guaranteed 2,184,100 282,620 — Total bills and securities 2,193,650 + 83 - 285,161 Due from foreign banks 47 — — F, R. notes of other banks 24,011 + 1,672 + 1,814 Uncollected items 775,198 72,363 + 175,985 Bank premises 39,903 - 7 1,633 Other assets 48,857 - 371 - 11,436 T O T A L A S S E T S 23,609,544 - 76,423 +3,535,307 L I A B I L I T I E S F. R. notes in actual circulation 6,343,877 + 61,509 +1,389,094 Deposits * LI ember bank - reserve account 13,439,698 - 84,159 + 562,681 U,S. Treasurer - General account 803,941 - 61,495 + 291^756 Foreign 1,226,555 24,575 + 865,736 - Other deposits 678,940 + 99,848 + 237,660 Total deposits 16,149,134 70,381 +1,957,833 - Deferred availability items 739,989 67,24-1 + 169,239 — Other liabilities including accrued dividends 4,893 - 263 + 409 TOTAL LIABILITIES ' 23r23?,893 - 76,376 +3,516,575 C A P I T A L A C C O U N T S Capital paid in 140,254 + 14 + 4,137 •Surplus (Section 7) 157,065 + 5,345 — Surplus (Section 13b) 26„785 — - 54 Other capital accounts 47,547 - 61 + — .9*204 TOTAL LIABILITIES ALTD CAPITAL ACCOUNTS 23,609,544 76,423 +3,535,307 - Ratio of total reserves to deposit and F, R. note liabilities combined 91.3$ — + 3.25S Commitments to make industrial advances 10,822. + 2,358 + 1,857 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAHKS OK MAI 7, 1941 (in thousands of dollars) A S S E T S Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 20,202,772 1,229,073 9,307,296 1,137,997 1,452,2.40 667,053 432,017 3,109,369 466,998 311,567 470,260 312,649 1,256,253 Redemption fund -F.R.notes 10,104 556 1,315 1,059 861 1,438 999 1,235 400 178 191 868 1,004 Other cash 315,002 22,525 80,554 26,699 21,311 18,341 23,433 32,940 16,684 5,360 14,986 14,849 31,320 Total reserves 20,527,878 1,252,154 9,389,165 1,215,755 1,474,412 686,832 456,449 3*149,544 434,082 317,105 485,437 328,366 1,288,577 Bills discounted: Secured by U.S. Gov*t obiigations direct and guaranteed 850 25 542 15 50 85 — 21 20 60 32 --- Other bilie discounted 641 —— 156 49 37 --- 10 86 - 108 150 45 Total bills discounted 1,491 25 698 64 87 85 10 107 20 168 182 45 Industrial advances 8,059 800 1,729 2,875 260 846 249 340 — 391 71 276 222 U. S. Government securities 5 direct and guaranteed* Bonds 1,363,800 98,544 389,312 108,110 136,462 75,859 59,247 156,506 63,283 41,178 66,277 54,979 114,043 Hotes 820,300 59,273 234,163 65,027 82,079 45,627 35,637 94,136 38,062 24,769 39,863 33,068 68,596 Total U.S. Gov’t securities, direct and guaranteed 2,184,100 157,817 623,475 173,137 218,541 121,486 94,884 250,642 101,345 65,947 106,140 88,047 Total bills and securities2^.93 ? 650 158,642 625,902. 176,076 218,888 122,417 95,143 251,089 101,365 66,506 106,393 88,368 182,861 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 24,011 697 1,968 1,015 1,518 5,786 2,661 2,712 2,571 491 1,659 543 2,390 Uncollected items 775,198 72,994 175,159 60,823 88,812 60,465 34,019 113,930 46,838 18,693 33,709 27,799 41,957 Bank premises 39,903 2,815 9,707 4,607 4,537 2,588 1,977 3,018 2,305 1,357 2,980 1,196 2,816 Other assets 48,857 3,346 13,301 4,119 5,323 2,990 2,066 5,258 2,113 1,510 2,299 2,099 4,433 T O T A L A S S E T S 23,609,544 1,490,651 10,215,220 1,462,400 1,793,494 881,080 592,317 3*525,557 639,275 405,662 632,478 448,372 1,523,038 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. F., 283-c STATEMENT OF CONDITI Oil OF1 IKE FEDERAL RESERVE BAIES ON LIAI 7, 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 Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual cir­ culation 6,343*377 517,745 1,665,808 437,716 588,233 297,952 210,926 1,373,112 238,722 167,820 218,783 102,67c 524,382 Deposits! Member bank—reserve acct. 13*439,698 762,368 6,632,844 777,907 949,627 439,424 274,951 1,810,519 281,366 160,203 295,029 246,677 808,783 U.S.Treasurer-General acct. 803*941 41,800 380,639 42,503 53,375 23,411 2.6,460 75,640 27,735 26,663 34,337 29,676 Foreign 1,226,555 54,775 714,230 77,452 73,460 34,335 27,947 95,817 23,954 17,567 23,156 ,c3,.Oo 60,706 Other deposits 678,940 16,974 541,656 29,308 7,281 9,238 5,613 6,3/3 9,556 7,005 8,596 3,474 33,816 Total deposits 16,149,134 875,917 8,269,369 927,170 1,,083,743 506,458 334,971 1,983,349 342,611 211,438 368,483 307,644- 932,981 Deferred availability items 739,909 70,866 150,344 62,618 86,674 60,388 32,652 115,890 46,050 16,550 33,799 26,448 37,710 Other liabilities including accrued dividends 4,893 510 1,380 401 490 383 189 500 164 168 162 179 287 TOTAL LIABILITIES 23*2-37,893 1*465,038 10,086,901 1,427,905 1,759,140 865,181 578,73S 3,477,931 627,547 395,976 621,227 436,949 Vi-95,360 C A P I T A L A C C O U N T S Capital paid in 140,254 9,354 51,593 11,906 14,478 5*428 4,800 14,910 4,281 3,006 4,511 ¿,270 11,717 Surplus (Section 7) 157,065 10,906 56,447 15,144- 14,32.3 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 47,547 2,479 13,209 3,052 4,546 1,980 2,341 8,463 1,939 2,528 1,989 1,916 3,055 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,609*544 1,490,651 10,215,220 1,4-62,400 1,793,494 SCI,080 592,317 3*525,557 639,275 405,662 632,478 448,372 H c\ 0 CO Commitments to make industrial advances 10,022 173 1,636 2,281 1,668 983 — 6 322 43 26 .21 3,663 HATER•ITI DISTRIBUTION CF BILLS AND SDC:JRITIES Within l6 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 Years; 5 Years Bills discounted 1,491 962 47 94 181 190 17 — — Industrial advances 0,059 1,426 251 169 536 617 1,170 1,794 2,096 U. S. Government securitiest direct and guaranteed 2,184,100 — — 57,000 __ 127,800 136,300 686,400 1,176,,600 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forrs F. R. 283~d FEDERAL RESERVE HOTE STATSIEHT OU LIAI 7. 1941 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R.Bank by F.R.Agent 6,643,710 535,745 1,751,319 456,065 60S,84-3 313,302 229,764 1,406,893 252,095 172,535 226,668 111,973 578,508 Held by Federal Reserve Bank 299,833 18,000 85,511 18,349 20,610 15,350 18,838 33,731 13,373 4,715 7,885 9,295 54,126 In act»«1 circulation 6,343,877 517,745 1,665,808 437,716 588,233 297,952 210,926 1,37.3,11.° 2.38,722 167,820 218,783 102,678 524,382 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from U. S. Treasury 6,741,000 550,000 1,765,000 460,000 611,000 325,000 235,000 1,420.000 259,000 174,000 230,000 118,000 594,000 Eligible paper 1,238 25 698 64 — 85 — 20 168 178 — — Total collateral 6,742,238 550,025 1,765,698 460,064 611,000 325,085 2,35,000 1,420,00 : 259,020 174,168 230,178 118,000 594,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis