H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F» H, 283 STATUTE!!? FOP. rnT £ PRESS Released for publication Board of Governors Friday morning, July 1+J of the Federal Reserve System hot earlier* July 3> ly'l-*! C01ID IT ION OF TT'E FEDERAL RESERVE BANKS During the week ended July 2 member bank reserve balances increased $ll+0, 000,000# Additions to member bank reserves arose from decreases of $21+1+, 000, 000 in Treasury deposits with Federal Reserve banks e.nd ^77*000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $21+,000,000 in Reserve Bank credit, §7*000,000 in gold stock and v2,000,000 in Treasury currcncy, offset in part by an increase of v2ll+,000,000 in money in circulation. Excess reserves of member banks on July 2 were estimated to bo approximately s’5,270, 000, 000, an increase of $120,000,000 for the week. Changes in member bank reserve balances and related items during tho week and the year ended July 2, 19^41 were as follows; Increase or decrease since July 2, Juno 25# July 3 19U 19U1 19U0 (In millions of dollars) Bills discounted 3 + 1 + 1 TJ. S. Government direct obligations 2,179 - -26b U. S. Government guaranteed obligations 5 - 2 mm mm Industrial advances (not including 13 million commitments - July 2) 9 Other Reserve Bank credit 77 +23 + 35 Total Rosorvo Bank credit 2,273 +2l+ -230 Gold stock 22,627 + 7 +2,561+ Treasury currency 3,150 + 2 + 136 Member bank reserve balances 15,125 +11+0 - 612 Money in circulation 9,7oi+ +2li+ +1,780 Treasury cash 2,276 + 1 + 86 Treasury deposits with F. R. Banks 037 -2I4I+ + 616 Nonmember deposits and other F.R. accounts 2,109 - 77 + 6ce Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn P. E, 283-a Released for publication Friday morning, July 4, l9-4lj not earlier, STATELffiNT OF CONDITION OF THE TTffiLVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 2, June 25, July 3, 1941 1941 194) A S S E T S Gold certificates on hand and due from U. S. Treasury 20,312,231 - 1,1+99 +2,1+71,756 Redemption fund - F. R. notes 8,853 - 655 m* 2,009 Other cash 214.1,080 - UU,o6i ■ 97,168 Total reserves 20,562,165 - 1)67215 +2,372,579 Bills discounted* Secured by U. S. Gov’t obligations, direct and guaranteed 1*3'5 56 + 651+ Other bills discounted l,iU3 + 551 - 291). total bills discounted "2T 50C + 1+95 + 360 Industrial advances 9,273 + 185 + 87 U. S. Government securities, direct and guaranteed* Bonds 1,363,800 — + ¿40,601+ Notes 820,300 - 306,1+32 Total U. S. Government securities, direct and guaranteed 2,1&1+,100 -- - 265,828 Total bills and securities 2,195,881 + 680 265,381 Due from foreign banks 1+7 mm*m mm F. R. notes of other banks 23,779 - 3,14+3 + 3^552 Uncollected items 979,078 + 88,802 + 257,638 Bank premises 1+0,162 53 - 1,271+ Other assets ___1)1-1-, 61+1 + 1,312 - 9,809 T O T A L A S S E T S 23,81+5,752 + 1+1,083 +2,357,305 L I A B I L I T I E S F. R. notes in actual circulation 6,767,9lU +15l+,722 +1,51+0,077 Deposits* I,¡ember banlc-reserve account 13,125,376 +11+0,266 mm 611,253 U. S. Treasurer - General account 836,852 -2l4l+,273 + 615,1+05 Foreign 1,200,225 - 32,051 + 1+52,852 Other deposits 611,503 - 39,187 + 121,522 T6tal deiTOsits 15,781,956 -175,21+5 + 578,526 Deferred availability items 901,936 + 65,822 + 222,lj60 Other liabilities including accrued dividends 1,71+7 - i+,339 371+ TOTAL LIABILITIES 23,11-73,553 + 1+0,960 +2,31+1,1+37 C A P I T A i A C C O U N T S Capital paid in lko,h69 + 93 3,275 Surplus (Section 7) 157,065 + 5,3l+5 Surplus (Section 13b) 26,785 5l+ mm mm Other capital accounts 14.7,880 f• O + 7,302 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,81+5,752 +1+1,083' +2,357,305 Ratio of total reserves to deposit and F. R. note liabilities combined 91.1$ - .1% 4* 2.2% Comcitnents to make industrial advances 12,590 - 1+82 + 3,890 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R, 23>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULI 2, 1941 (in thousands of dollars) A S S E T S Total Boston New York Phila, Cleve. Rich, Atlanta Chicago St*Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 2C,312,231 1,201,000 8,802,859 1,222,344 1,582,130 604,851 1+81,1+37 3*319,514 573,593 337,607 4.61,124 326,742 1,319,230 Redemption fund - F.R.notes 8,853 217 1,01+1 581 941 1,595 757 762 355 112 88 307 1,039 Other cash 241,080 17,784 43,403 19,961 17,565 13,289 20,956 51,021 16,545 5,591 l4,i46 15,465 ¿7,334 Total reserves 20,562,164 1,219,001 8,81)7,303 1,2142,886 1,600,636 699,555 503,150 5,551,097 590,4?l 343,310 475,558 341,034 1,548,^-03 Bills discounted* Securcd by U. S. Gov’t obligations, direct and guaranteed 1,365 81 971 55 100 8 — — 60 45 20 25 Other bills discounted 1,143 21 627 ¿46 22 — 8 — — 179 105 135 Total bills discounted 2,508 102 1,598 101 122 8 8 — — 259 150 155 25 Industrial advances 9,273 1,010 1,534 3,515 528 854 179 590 434 597 275 177 U. S. Government securities9 direct and guaranteedt 3onds 1,363,800 99,236 384,113 107,301 141.895 74,720 57,484 166,999 65,886 38,477 66,280 53,594 107,765 Notes 820,300 59,719 231,036 64, 54i 85,548 44,943 34,577 100,446 59,650 23,141+ 59,864 32,255 64,817 Total U. S, Govlt securities, direct and guaranteed 2,184,100 159*005 615,149 171,8142 227,21+5 119,665 92,061 267,445 105,516 61,621 106,144 85,829 172,582 Total bills and securities 2,195,881 160,117 618,281 175,458 227,695 120,505 92,248 267,335 105,516 62,294 106,891 86,259 172,784 - Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other barJks 23,779 729 1,704 1,254 1,506 5,568 2,422 2,865 2,250 395 1,610 752 2,966 Uncollectcd items 979,078 91,057 21)6,101 68,214 124,904 72,473 31,505 159,556 5o,l4o 24,426 40,205 58,569 52,070 Bank premises 1+0,162 2,805 9,930 4,710 4,515 2,644 1,970 3,007 2,297 1,555 2,940 1,181 2,8g4 Other assets 44,61+1 "3,084 11,667 3,790 5,055 2,707 1,870 5,110 2,023 1,515 2,159 2,016 3,887 T O T A L A S S E T S 23,61+5,752 1,1+76,796 9,735,004 1,1+96,317 1,964,171 903,454 635,147 3,769,456 752,676 453,089 629,150 469,592 1,562,918 *Less than §5^0• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATffiiEIIT OF CONDITION OF THE FEDERAL RESERVE BA1IKS OK JULY 2, 1941 (in thousands of dollars) L I A B I L I T I E S Total Boston Mew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual cir­ culation 6,787,914 562,665 1,813,043 467,660 >28,060 321,594 224,966 1,448,594 251,694 172,470 224*121 108,959 564*060 Deposits» Member bank-reserve acct.13,125,376 686,289 6,396,469 696,668 795*254 U*S.Treasurer-General acct. 836,852 49*583 244,034 93*549 96,186 22,395 22,734 134,751 46,885 31,813 31*490 31*105 52,327 Foreign 1,208,225 57,066 457,687 117*392 lll,54i 52,o4o 42,338 145*228 36,507 26,625 55,097 55*097 91*987 Other deposits 611,503 12,629 484,022 19*734 21,669 7,578 6,697 8,252 9*764 8,486 5,459 2,l44 27*269 Total deposits 15,781,956 805*567 7,582,212 927,343 1,189,103 4-98,135 365*968 2,129,597 44o,568 229,900 556,128 512,71c 946,837 Deferred availability items 901,936 82,559 211,008 66,644 112,426 67,510 50,557 145,661 48,559 20,866 57,522 56,587 44,257 Other liabilities including accrued dividends 1,747 420 210 157 174 244 36 178 66 72 92 79 19 TOTAL LIABILITIES 25,475,553 1,4-51,211 9*606,473 1,461,804 1,929,771 887,483 619*527 3,721,850 ?4o,867 425,388 617,863 458,143 1*555*173 C A P I T A L A C C O U N T S Capital paid in 140,469 9*344 51*619 11,912 14,499 5,456 4,821 14,960 4,306 2,997 4,54o ¿+*272 11*743 Surplus (Section 7) 157,065 10,906 56¿447 15*144 14,323 5,247 5,725 22,824 4,925 3,152 5,613 3*974 10,785 Surplus (Section 13b) 26,785 2,874 7,070 4,393 1*007 3,244 715 1,429 555 1*000 1,138 1*263 2,121 Other capital accounts 47*880 2,461 13,595 3*064 4*571 2,004 2,361 8,413 2,027 2,552 1,996 1,940 3*096 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 25,,845,752 1,.476,796 9*,755,004 l,,496,317 i,,964,171 903,454 655,147 3,709,456 752,670 455,089 629,150 .469,592 1,582,918 Commitments to make industrial advances 12,590 1,521 1,554 2,193 1*575 869 49 2 563 32 eoo 39 3*613 MATURITY DISTRIBUTION OF BILLS AIID 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 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,508 1*950 142 100 26 290 Industrial advances 9*273 1*525 521 526 859 860 1,495 i,4oo 2,307 U.S. Government securities. direct and guaranteed 2,184,100 — — — — 43,000 84,800 258,700 584,000 1,253*600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forra F. R. 283-d FEDERAL RESERVE NOTE STATEMENT Oil JULY 2. 1941 (In thousands of dollars) Total Boston New York Phila. Cleve. Ridi. Atlanta Chicago St »Louis Kinn» Xans.Cy. Dallas Son Fran. Federal Reserve notes: Issued to F.R. Bank bv F»R.Agent 7,067,169 584*886 1,885,087 484,326 649,333?,377 240,499 1,476,576 263,316 176,712 233,401 110,618 615,94? Held by Federal Reserve Bank 279,255 22,221 72,01+4 16,666 21,274 16,703 15,533 27,902 11,622 4,2^42 9,360 9,659 51,069 In actual circulation 6,787,914 562*665 1,013,043 467,660 620,068 321,594 224,966 1,440,594 251,694 172,470 224,121 108,959 564,000 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due frora U.S.Treasury 7,184,000 590,000 1,900,000 490,000 655,000 350,000 245,000 1,500,000 279,000 177,000 235,000 124,000 o39,000 Eligible paper 2,190 102 1,598 101 — 0 — — — 259 150 Total collateral 7,106,198 590,102 1,901,598 490,101.655,00c 350,000 2'.:?,coo 1,500,one 279,000 177,239 235,150 124,000 639,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis