H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fora F. R. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, June 20; of the Federal Reserve System not earlier. June 19- 1941 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 18 member bank reserve balances decreased ¿181,000.000, Reductions in member bank reserves arose from increases of ¿83,000,000 in Treasury deposits with Federal Reserve Banks, $40,000,000 in money in circulation, $18,000,000 in Treasury cash, and $56,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $8,000,000 in Reserve Bank credit, offset in part by increases of $19,000,000 in gold stock and $4,000,000 in Treasury currency. Excess reserves of member banks on June 18 were estimated to be approximately $5,310,000,000, a decrease of $180,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 18, 1941, were as follows* Increase or decrease since June 18j June 11, June 19. 1941 1941 1940 (In millions of dollars) Bills discounted 2 — ü. S. Government direct obligations 2,179 - 284 — II. S. Government guaranteed obligations 5 — 5 Industrial advances (not including 12 million «_ —— commitments - June 18) 9 Other Reserve Bank credit 46 - 8 8 Total Reserve Bank credit 2,241 - 8 - 298 Gold ütock 22,612 + 19 +2,84-3 Treasury currency 3,142 + 4 + 131 Member bank reserve balances n,r*L -181 - 581 Money in circulation 9,433 + 4o +3-, 692 Treasury cash 2,258 + 18 + 54 Treasury deposits with F. R. Banks 1,024 + S3 + 726 lionnember deposits and other F. R. accounts 2,150 . + 56 + 786 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-a Released for publication Friday morning, June 20, 1941? not earlier. STATEMENT OF CONDITION OF THE TCELVE FEDERAL RESERVE BilNKS COMBINED (In thousands of dollars) Increase or decrease since June 18, June 11, June 19, 1941 1941 1940 A S S E T S Gold certificates on hand and due from U.S. Treasury 20,313,731 — +2,777,256 Redemption fund - F. R.notes 9,508 - 1,437 1,683 Other cash 287,750 - 1,260 -..33^2 Totc'i reserves 20,610,989 - 2,697 +2,692,300 Bills discounted* Secured by U. S. Gov’t obligations, direct and guaranteed 1,119 239 + 438 Other bills discounted 687 + 68 814 Total bills discounted 1,806 171 386 Industrial advances 8,906 + 132 105 U. S. Government securities, direct and guaranteed1 Bonds 1,363,800 “ + 20,617 - Notes 820,300 - 309,825 Tot¿l U. S. Government securities» dxiect and guaranteed 2,184,100 - 289,208 Tot cl bili.s and securities 2,194,812 39 - 289,699 Due from foreign banks 47 — — F. F..notes of other banks 24,918 - 1,907 + 4,276 Uncollected items 1,132,033 +242,966 + 326,807 Beni: premises 40,246 + 211 1,290 Other assets 42,412 - 11,387 - 10,607 T O T A L A S S E T S 24,045,457 +227,147 +2,721,787 L I A B I L I T I E S F. R. notes in actual circulation 6,573,156 + 30,981 +1,469,240 Deposits* lionber bank - reserve account 13,130,642 -181,547 - 581,591 U,o. Treasurer - General account 1,023,809 + 82,836 + 725,597 Foreign 1,229,892 + 3,36^ + 563,878 Other deposits 624,714 + 42,o03 + 192,413 Total deposits 16,009,057 - 52,737 + 900,297 Deferred availability items 1,085.664 +250,4-59 + 334,802 Other liabilities including accrued dividends 5,610 r 1*522 ±____ JQ2 TOTAL LIABILITIES 23,673,487 +227,180 +2,704,648 C A P I T A L A C C O U N T S Capital paid in 140,324 7 + 3,227 Surplus (Section 7) 157,065 — + 5,345 Surplus (Section 13b) 26,785 — 54 Other capital accounts 47,796 26 + 8,621 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,045,457 +227,147 +2,721,787 Ratio of total reserves to deposit and F. R. note liabilities combined 91.355 + .11 + 2.6% Comnitinents to make industrial advances 11,814 + 1S5 + 3,227 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 JUNE 18, 194-1 (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 20,313,731 1*161*769 8,880,048 1,223,891 1,562,084 653,398 454,841 3,400,496 547,741 337,994 461,391 321,526 1,308,552 Redemption fund - F.R.notes 9,508 327 1,427 728 602 1,218 851 947 38I 145 136 S32 1,914 Other cash 287,750 20,037 54,283 24,085 16,428 18,006 25,661 40,008 18,838 5,716 16,800 15,852 32,036 Total reserves 20,610,989 1,182,133 8,935,758 1,248,704 1,579,114 672,622 481,353 3,Ml,451 566,960 343,855 478,327 333,210 1,342,502 Bills discounted» Secured by U. S. Gov’t obligations, direct and guaranteed 1,119 97 372 216 100 158 — — 35 20 66 30 25 Other bills discounted 687 24 142 45 29 — 8 34 — 162 150 93 — Total bills discounted 1,806 121 514 261 129 158 8 34 35 182 216 123 25 Industrial advances 8,906 768 1,536 3,360 350 866 . 193 366 435 579 275 178 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 41,178 66,277 54,979 114,043 Notes 820,300 59,273 234,163 65,027 82,079 45,627 35,637 94,136 24,769 39,863 33,068 68,596 Total U. S. Gov’t securities, direct and guaranteed 2,184,100 157,817 623,475 173,137 218,541121,486 94,884 250,642 101,345 65,947 106,140 88,047 182,639 2^94,812 158,706 625,525 176,758 219,020 122,510 95,085 251,042 101,380 66,564 106,935 88,445 182,842 Due from foreign barics 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 2.4,918 568 2,137 1,426 1,550 6,190 2,723 2,722 2,078 842 1,981 557 2,144 Uncollected items 1,132,033 100,858 251,575 86,382 168,449 92,645 42,345 167,158 53,120 26,677 42,579 34,192 66,053 Bank premises 40,246 2,810 9,949 4,720 4,525 2,639 1,973 3,012 2,300 1,355 2,964 1,189 2,810 Other assets 42,412 2,812 11,311 3,613 4,673 2,649 1,814 4,580 1,841 1,321 1,972 1,919 3,907 T O T A L A S S E T S 24,04-5,457 1,447,890 9,836,273 1,521,608 1,977,335 899,257 625,295 3,369,971 727,680 440,614 634,759 464,513 1,600,262 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283—c STATELIEST OF CONDITION OF THE FEDERAL RESERVE BAN IS ON JUNE 18, 1941 (in thousands of dollars) L I A B I L I T I E S Total Boston lïew York Phila, Cleve. Rich. Atlanta Chicago St..Louis Minn^ Kans.Cy.Dallas San Fran, F. R. notes in actual cir­ culation ,573,156 542,682 1,749,770 4-54,365 609,460 309,090 216,329 :L, 412,138 244,537 169,725 220,153 103,956 540,951 Deposits t Ivlember bank-reserve acct.13,,113300,,6644i2 686,833 6,427,287 699,815 962,347 382,907 267,967 ]L,870,167 320,500 .170,109 285,546 233,179 823,985 1^023,809 43,367 300,633 83,323 89,469 43,131 34,163 227,159 50,529 38,157 37,293 44,246 32,339 Foreign ,229,892 55,631 481,683 117,241 111,198 51,973 42,304 145,040 36,260 26,591 35,051 35,051 91,869 Other deposits 624,714 7,480 512,572 19,595 16,636 5,982 7,554 4,436 10,153 6,081 3,702 2,944 27,579 Total deposits K ,009,057 793,311 7,722,175 919,974 1,179,650 483,993 351,988 ;2,246,802 4,17,442 240,938 361,592 315,420 975,772 Deferred availability items 1,085,664 85,738 234,200 112,281 153,245 89,802 43,198 162,806 53,761 20,104 4l ,564 33,494 55,471 Other liabilities including accrued dividends 5,610 563 1,704 476 597 418 l6l 614- 180 150 202 204 341 TOTAL LIABILITIES 2:,673,487 1,422,294 9,707,849 1,487,096 1,942,952 883,303 611,676 3,822,360 715,920 ■430,917 623,511 4-53,074 1,572,535 c a p i t a l A C O O U r ! T* ft JL Capital paid in l4o,324 9,34-1 51,582 11,902 14,492 5,449 4,813 14,936 4,296 2,998 4,517 4,270 11,728 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 47,796 2,475 13,325 3,073 4,561 2,014 2,368 8,422 2,006 2,547 1,980 1,932 3,093 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,04-5,457 1,447,890 9,836,273 1,521,60S 1/977,335 899,257 625,295 3»869»971 727,680 44o,6l4 634,759 ,513 1,600,262 Commitments to make industrial advances 11.814 171 1,535 2,342 1,683 1,110 32 6 363 38 819 39 3,676 MATURITY DISTRIBUTION OF BILLS /¿ID SECURITIES Within 16 to 31 to 61 to 91 days tc o riontns 1 Year 1 Years to Over Total 15 days 30 day; 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted l,o06 1,208 51 193 87 265 2 Industrial advances 8,906 1,273 292 569 754 692 1,501 1,449 2,376 U.S. Govemr.;ent securities, direct and guaranteed 2.'el84»100 43,000 84,800 238,700 584,000 1,233,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R. 283-d FEDERAL RESERVE NOTE ST/.TSJ.IEIIT Oil JUHE 13, 1941 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis liinn. Kans.Cy. Dallas San Fran. Federal Reserve notes» Issued to F.R. Bank by F.R. Agent 6,899,789 568,133 1,333»236 475,234 633,214 325,472 235,760 1,442,575 259,234 175,3^6 231,5'.>7 I-1-6»970 602,998 Held by Federal Reserve Bank 326,633 25,451 83,260 20 o59 lt>,3(-,2 3--?^'9‘ 1^;? ^1 y ^’o<cs. ll,j>i> 4 13,014 62s,o47 y In actual circulation 6,573,156 542,632 1,749,770 454,365 609,460 3‘-i9,090 216,329 1,412,133 244,537 169,725 220,153 103,956 540,951 Collateral held by agent as se­ curity for notes issued to banlt» Gold certificates on hand and due from U. S. Treasury 7,033,000 590,000 1,345,000 480,COO 640,000 350,000 24C-,CO0 1,46c,: 0C 269,000 177,000 235,"00 123,000 624.000 Eligible paper 1,475 121 514 * 261 — 158 — ~ 35 132 204 — Total collateral 7,034,475 590,121 1,845,53-4 480,261 640,000 350,158 240,OoO 1,460,000 269,035 177,182 235,204 123,000 624,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis