H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. P.. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, May 30; of the Federal Reserve System not earlier. May 29» 1941. CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 28 member bank reserve balances increased $17,000,000* Additions to member bank reserves arose from decreases of $59,000,000 in Treasury cash, $15,000,000 in Treasury deposits with Federal Reserve Banks and $46,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $8,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by an increase of $108,000,000 in money in circulation and a decrease of $6,000,000 in Reserve Bank credit. Excess reserves of member banks on May 28 ?/ere estimated to be approximately $5,820,000,000, a decrease of $40,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 28, 1941, were as follows* Increase or decrease since May 28, May 21, May 29, 1941 1941 1940 (In millions of dollars) Bills discounted 4 + 2 + 1 U. S, Government direct obligations 2,179 — - 28 G U. S. Government guaranteed obligations 5 5 111 ^ ' Industrial advances (not including 12 million comaitments - May 28) 8 i — - Other Reserve Bank credit 35 - 7 + 13 Total Reserve Bank credit 2,231 - 6 - 280 Gold stock 22,573 + 8 +3j411 Treasury currency 3,133 + 2 + 126 Member bank reserve balances 13,749 + 17 + 534 Money in circulation 9,294 +108 +1,609 Treasury cash 2,221 - 59 + 21 Treasury deposits with F.R. Banks 46 2 - 15 + 84 Nonmember deposits and other F. R. accounts 2,212 - 46 +1,009 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-a Released for publication Friday morning, May 30» 1941 j not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANES COMBINED (In thousands of dollars) Increase or decror.se since May 28, May 21, May 29, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U.S. Treasury 20,316,732 + 60,001 +3,381,259 Redemption fund - F. R. notes 9,549 -- + 528 Other cash 299,593 “21*422 - _ 59*433 Total reserves 20,625,874 + 38,569 +3,322,354 Bills discounted» Secured by U. S. Gov’t obligations, direct and guaranteed 3,433 + 1,894 + 1,673 Other bills discounted 722 + 64 531 — Total billa discounted 4,155 + 1,953 + 1,092 Industrial advances 8,163 + 9 — 998 U.S. Government securities, direct and guaranteed* Bonds 1,363,800 + .16,305 Notes 820.300 - 309,325 — Total U. S.Government securities, direct and guaranteed 2,184,100 — - 293 r020 Total bills and securities 2,196,418 + 1,967 292,926 - Due from foreign banks 47 — - F. R. notes of other banks 25,436 - 1,686 + 6,174 Uncollected items 828,654 -157,432 191,362. + Bank premises 40,019 36 - 1,536 Other assets 51,819 + 1*307 — 11,742 T O T A L A S S E T S 23,768,267 -117,311 +3,213,636 L I A B I L I T I E S F. R, notes in actual circulation 6,460,010 + 75,623 +1,421,624 Deposits* Member bonk - reserve account 13,748,879 + 17,044 533,731 + U. S. Treasurer - General account 461,674 - 15,470 33,925 + Foreign 1,240,046 - 1,155 799,960 + Other deposits 686,292 - 44,158 + 176,323 Total deposits 16,136,891 - 43,739 +1,594,444 Deferred availability items 793,831 -149,760 + 173,692 Other liabilities including accrued dividends . s.6.12 + 495 + 431 TOTAL LIABILITIES 23,396,394 -117,381 +3,195,191 C A P I T A L A C C O U N T S Capital paid in 140,284 + 5 + 4,133 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 — - 54 Other capital accounts ___47,732 + 65 + 9,071 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,768,267 -117,311 +3,213,636 Ratio of total reserves to deposit and F. R. note liabilities combined 91.3* + .1* + 2.9£ Commitments to make industrial advances 12,342 + 1,262 + 3,490 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 BANKS ON MAY 28, 194-1 (in thousands of dollars) A S S E T S Total Boston New York Phila. deve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 20,316,732 1-204,989 9,299,960 1,198,306 1,481,542 668,362 423,465 3,202,230 484,376 320,254 451,853 301,295 1,280,100 Redemption fund — F.R. notes 9,549 470 997 947 777 1,690 948 1,133 419 167 171 858 972 Other cash 299,593 20,441 66,501 22.860 18,116 19,808 27,846 38,014 17,664 5,668 18,091 14,810 29,774 Total reserves 20.625.874 1.225.900 9,367,458 1,222,113 1,500,435 689,860 452,259 3*241,377 502,459 326,089 470,115 316,963 1,310,846 Bills discounted* Secured by U. S.GovM; obligations, direct and guaranteed 3? 433 115 498 146 200 85 — — 2,305 27 27 30 Other bills discounted 722 19 175 56 35 —— 8 68 160 l4l 60 Total bills discounted 4.155 134 673 202 235 85 8 68 2,305 187 168 90 — Industrial advances 8,163 771 1,729 2,938 322 853 246 356 — 383 71 276 218 U. S. Governnent securities, direct and guaranteed* Bonds 1,363,800 98,544 389,312 108,110 136,462 75,859 59,247 156,506 63,283 4L,178 66,277 54,979 114,043 Notes 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 88,047 182,639 Total bills and securities 8 158,722 625,877 176,277 219,098 122,424 95,138 251,066 103,650 66,517 106,379 88,413 182,857 Due fron foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 25,436 475 1,775 1,200 1,965 6,015 2,938 4,509 1,416 1,376 1,106 490 2,171 Uncollected itens 828,654 77,878 198,387 54,840 104,644 66,961 33,654 120,919 47,709 21,454 31,114 28,760 42,334 Bank premises 40,019 2,810 9,798 4,6 53 4,525 2,598 1,973 3,018 2,301 1,357 2,980 1,196 2,810 Other assets 51,819 3,529 14,105 4,408 5,566 3,176 2,190 5,661 2,226 1,593 2,435 2,270 4,660 T O T A L A S S E T S 23,768,267 1,4^,317 10,217,418 1,463,4-96 1,836,237 891,036 588,154 3,626,556 659,762 418,386 614,130 438,093 1,545,682 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Porn F. R. 2S>-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON LIAI 28- 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 !3t.Louis Llinn. Kans. Cy. Dallas San Fran. F. R. notes in actual cir­ culation 6 ,460,010 532,940 1,704,088 447,658 600,294 304,204 209,451 1,398,156 240,949 168,574 217,027 102,106 534,563 Deposits * Llenber bank-reserve acct.13 ,748,879 738,766 6,857,261 777,180 971,385 412,423 273,464 1,895,721 295,718 170,907 285,980 24]-,297 828,777 U.S. Treasurei^-Gcneral acct. 461,674 18,977 125,057 42,956 31,545 38,967 21,529 46,116 27,328 22,961 36,365 .27,831 21,042 Foreign 1,240,046 56,529 703,062 81,327 77,135 36,052 29,345 100,611 25,153 18,445 24,314 24,314 63,759 Other deposits 686,292 21,294 526,378 21,364 20,984 15,369 7,568 8,700 9,796 8,738 9,615 3,606 32,880 Total deposits 16,,136,891 835,566 8,212,758 922,827 1,101,049 502,811 331,906 2,051,148 357,995 221,051 356,274 297,048 946,458 Deferred availability itens 793,881 74,605 170,570 57,947 99,945 67,662 33,030 128,983 48,876 18,919 29,379 27,293 36,667 Other liabilities including accrued dividends 5,612 595 1,608 549 577 423 168 63O 188 153 208 206 299 TOTAL LIABILITIES 23:,396,394 1,443,706 10,089,024 1,428,981 1,801,865 875,100 574,555 3,578,925 648,008 408,697 602,888 426,658 1,517,987 C A P I T A L A C C O U N T S Capital paid in 140,284 9,353 51,585 11,900 14,483 5,439 4,802 14,925 4,291 3,002 4,516 4,270 11,718 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 47,739 2,478 13,292 3,078 4,559 2,006 2,359 8,453 2,005 2,535 1,975 1,928 3,071 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23>768,267 1,469,317 10,217,418 1,463,496 1,836,237 891,036 588,154 3,626,556 659,762 418,386 614,130 432,-93 1,545,682 Connitnents to nake industrial advances 12,342 172 1,611 2,279 1,691 1,101 32 6 346 41 1,314 21 3,728 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 nonths 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 nonths to 1 Year to 2 Years 5 Years 5 Years Bills discounted 4,155 3,611 48 150 116 215 15 Industrial advances 8,163 1,488 202 141 570 795 1,125 1,764 2,078 U. S. Government securities, 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

Forti F. R. 283-d FEDERAL RESERVE NOTE STATEMENT Oil IIAY 28, 1941 (ln thousands of dollars) Total Boston New 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 6,767,692 551,562 1,780,734 464,707 623,293 318,470 232,621 1,433,416 255,628 174,431 227,971 115,435 589,424 Held by Federal Reserve Bank 307,682 18,622 76,646 17,049 22,999 14,266 23,170 35,260 14,679 5,857 10,944 13,329 54,861 In actual circulation 6,460,010 532,940 1,704,088 447,658 600,294 304,204 209,451 1,398,156 240,949 168,574 217,027 102,106 534,563 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from U.S. Treasury 6,909,000 570,000 1,795,000 470,000 625,000 350,000 240,000 1,460,000 269,000 177,000 230,000 119,000 604,000 Eligible paper 3,742 134 673 202 85 2,305 179 164 — Total collateral 6,912,742 570,134 1,795,673 470,202 625,000 350,085 240,000 1,460,000 271,305 177,179 230,164 119,000 604,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis