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, May 16; of the Federal Reserve System not earlier. May 15, 194-1 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended Way 14 member bank reserve balances increased §18,000,000* Additions to nember bank reserves arose from increases of ¿13,000,000 in cold stock, $10,000,000 in Reserve Bank credit and $-4,000,000 in Treasury currency, and decreases of $42,000,000 in Treasury deposits with Federal Reserve Banks and $9,000,000 in Treasury cash, offset in part by increases of ¿55,000,000 in noiuiember deposits and other Federal Reserve accounts and $4,000,000 in money in circulation. Excess reserves of member banks on May 14 were estimated to be approximately $5,690,000,000, a decrease of $20,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 14, 1941, srere as follows* Increase or decrease since May 14, May 7, î.ïay 15, 1941 1941 1940 (In millions of dollars) Bills discounted 2 + 1 - 1 U. S. Government direct obligations 2,179 — - 085 U. S. Government guaranteed obligations 5 5 Industrial advances (not including 1], million com; itnents - May 14) 8 — - 1 Other Reserve Bonk credit 45 + 10 + 13 Total. Reserve Bank credit 2,239 + 10 279 Gold stock 22,538 + 13 +3,589 Treasury currency 3,129 + 4 + 12.5 Member bank reserve balances 13,458 + 18 + •>.64 Money in circulation 9,155 + 4 +1,557 Treasury cash 2,283 Oy + 60 - Treasury deposits with F. R. Banks 762 - 42. + 337 Nonmember deposits and other F. R. accounts 2,248 + 55 +1,116 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, P., 2&3*-a Released for publication Friday norning, May 16,1941; not earlier, STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 14, Kay 7, Hay 15, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U. S. Treasury 20,222,732 + 19,960 +3,530,757 Redemption fund - F. R. notes 10,144 + 40 + 1,055 Other cash 328,073 +-11*071 - 50,538 Total reserves 20,560,949 + 33,071 +3,481,274 Bills discounted» Secured by U. S, Gov’t obligations, direct and guaranteed 854 + 4 + 174 Other bills discomrbed 650 + 9 1,492 Total bills discounted 1,504 + 13 1,31S Industrial advances 8,092 + 33 1,200 U* S. Governnent securities, direct and guaranteed» Bonds 1,363,800 + 18,955 Notes 820,300 - 308,925 — Total U. S. Government securities* direct and rruaranteed 2,184,100 — - 289,970 Total bills and securities 2,193,696 + 46 - 292,488 Due fror, foreign banks 47 --- --- F. ?.. notes of other banks 27,083 + 3,072. + 5,828 Uncollected items 1,017,150 +241,952 + 229,026 Bank premises 40,067 + 164 1,486 Other assets 50,171 + 1,314 - 11,589 T O T A L A S S E T S 23,889,163 +279,619 +3,410,565 L I A B I L I T I E S F. P.. notes in actual circulation 6,359,671 + 15,794 +1,390,936 Deposits» Member bank - reserve account 13,457,866 + 18,168 + 364,192 U.S. Treasurer - General account 761,624 - 42,317 + 336,990 Foreign 1,235,048 + 8,493 + 834,118 Other deposits 725,782 + 46,842 + 248,896 Total deposits 16,180,320 + 31,186 +1,784,196 Deferred availability items 971,989 +232,000 + 215,784 Other liabilities including accrued dividends 5,504 + 611 + 1,004 TOTAL LIABILITIES 23,517,484 +279,591 +3,391,920 S . A L L l A k 1 5 C O U N T S Capital paid in 140,272 + 18 + 4,164 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 — 54 Other capital accounts 47,557 + 10 + 9,190 TOTAL LIABILITIES JiND CAPITAL ACCOUNTS 23,889,163 +279,619 +3,410,565 Ratio of total reserves to deposits and F. R. note liabilities combined 91.256 - .1% + 3.0% Commitments to make industrial advances 10,945 + 123 + 2,012 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-b STATEMENT OF OOHDITIOII CF THE FEDERAL RESERVE BA1IK& ON 'MAI 14, 1941 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chic. 0 St.Louis Minn. Kans.Cy. Dallas San Fran. V Gold certificates cn hand and due from U.S.Treasury 20,222,732 1,216,879 9,283,376 1,184,542 1,459,513 656,439 430,329 3,126,736 463,742 326,940 466,991 315,375 1,290,870 Redemption fund - F.R.notes 10,144 556 1,315 1,059 861 1,438 999 1,235 440 178 3.91 Ç*/’ 1,004 6-JO Other cash 328,073 22,810 77,577 25,944 21,599 £2,397 27,607 39,623 17,012 6,000 17,991 15,183 34,330 Total reserves 20,560,949 1,240,245 9,362,268 1,211,545 1,481,973 68C»,274 458,935 3,167,594 481,194 333,115 485,173 332;425 1,326,204 Bills discounted; Secured by U. S, Gc,v!t obligations, direct and guaranteed 854 25 332 87 200 85 21 35 32. 37 — Other bills discounted 650 108 56 35 10 82 169 147 43 Total bills discounted 1,504 25 440 143 235 85 10 103 35 201 184 43 — Industrial advances 8,092 799 1,729 2,872 291 844 248 351 389 71 27 6 222 U.S. Government securities, 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 Notes 820,300 59,273 234,163 82,079 45,627 35,637 94,136 33.062 24,769 39,863 33,068 68,596 Total U. S. Gov*t securities, direct and ^oi anteed 2.184,100 157,817 623,475 173,137 218,541 121,486 94,884 250,642 101,345 65,947 3.06,140 8G,c47 182,639 Total bills and securities p -jq^ 158,641 625,644 176,152 219,067 122,415 95,142 251,096 101,380 66,537 106,395 38,366 182,861 Due from foreign banks 47 3 18 5 4 2 2 6 *1 * 1 4 F. R. notes of other banks 27,083 533 2,364 1,415 1,732 7,060 3,011 3,503 1,462 960 1,526 541 2,976 Uncollected items 1,017,150 99,971 239,570 68,043 139,780 79,185 37,319 155,853 56,075 21,299 37,894 ^3 j0?9 49,122 Bank premises -¿¡0,067 2,815 9,798 4,664 4,537 2,604 1,977 3,018 <¿,305 1,357 2,980 1,196 2,816 Other assets 50,171 3,400 13,723 4,407 5,387 3,085 2,104 5,388 2,331 1,526 2,357 3,3-31 4,512 T O . T A L A S S E T S 23,8395163 1,505,608 10,253,385 1,466,231 1,852,480 894,625 598,490 3,536,458 644,568 424,797 636,326 457,700 1,568,495 *Less than ¿500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forra F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS OH HAY 14, 1941 (in thousands of dollars) L I A B I L I T I E S Pot al Boston New York Phila. Cleve. Rich. Atlanta Chicago iSt.Louis Minn. Kans.Cy. Dallas iSan Fran. F. R. notes in actual cir­ culation 6,359,671 520,077 1,670,915 -439,843 589,477 300,240 209,863 1,379,231 239,090 167,698 218,186 101,292 523,759 Deposits t Member bank-reserve acct. 13*4575866 749,485 6,567,209 767,946 973,414 433,864 281,368 1,836,518 278,194 178,014 294,702 254,729 842,423 U.S.Treasurer-General acct. 761,624 41,167 361,934 50,772 47,409 23,318 22,204 55,132 26,031 23,638 43,586 30,070 36,363 Foreign 1,235,048 55,065 715,284 73,663 74,608 34,871 28,383 97,314 24,329 17,841 23,518 23,518 61,654 Other deposits 725,782 17,381 594,463 23,654 6,372 8,354 6,401 4,926 9,788 9,009 8,997 3,541 32,896 Total deposits 16,180,320 863,098 8,238,890 921,035 1,101,803 500,407 338,356 X,’993,890338,342 228,502 370,803 311,858 973,336 Deferred availability items 971,989 96,292 213,682 70,255 126,289 77,653 36,537 165,064 55,214 18,731 35,896 32,930 43,446 Other liabilities including accrued dividends 5,504 526 1,563 609 559 413 150 649 185 184 196 195 275 TOTAL LIABILITIES 23,517,484 1,479,993 10,125,050 1,431,742 1,818,128 878,713 534,906 3,538,834 632,831 415,115 625,081 446,275 1,540,816 C A P I T A L A C C O U N T S Capital paid in 140,272 9,354 ■ 51,593 11,905 14,478 5,433 4,802 14,917 4,288 3,002 4,513 4,270 11,717 /Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 22,324 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 1,133 1,263 2,121 Other capital accounts 47,557 2,481 13,225 3,047 4,544 1,988 2,344 8,454 1,991 2,528 1,981 1,918 3,056 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23. 10,253,385 1,466,231 1,852,480 894,625 598,490 3,586,458 644,568 424,797 636,326 457,700 1,568,495 ComnitEents to make industrial advances 10,945 172 1,636 2,284 1,671 1,053 13 6 322 41 26 21 3,700 MATURITY DISTRIBUTION OF BILLS ¿IIP SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 days 30 days 60 dears 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 1,504 928 81 96 162 223 14 Industrial advances 8,092 1,439 266 146 549 623 1,189 1,787 2,093 U. S. Government securities, direct and guaranteed 2,134,100 — 57,000 127,800 136,300 686,400 1,176,600 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283—d FEDERAL RESERVE NOTE STATEMENT ON MAY l4r 1941 (ln thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chic Ago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reservo notes* Issued to F.R. Bank by F.R.Agent 6,682,910 541,729 1,754,410 459,779 614,395 317,908 231,606 1,414,297 253,830 173*391 226,826 112,075 582,664 Held by Federal Reserve Bank 323,239 21,652 83,495 19,936 24,918 17,668 21,743 35,056 14,740 5,693 C,640 10,783 58,905 In actual circulation 6,359,671 520,077 1,670,915 439,843 589,477 300,240 209,863 1,379,231 239,090 167,698 218,186 101,29^ 523,759 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 6,810,000 550,000 1,765,000 470,000 615,000 350,000 235,000 1,440,000 269,000 174,000 230,000 118,000 594,000 Eligible paper 1,098 25 440 144 *— 85 — — 35 188 181 -- — Total collateral 6,811,098 550,025 1,765,440 470-144 615,000 350,085 235,000 1,440,000 269,035 174,188 230,181 118,000 594,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis