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, July 25; of the Federal Reserve System not earlier, July 2-4? 1941 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended July 23 member bank reserve balances decreased $106¡,000,000. Reductions in member bank reserves arose froa increases of $105,000,000 in Treasury deposits with Federal Reserve Banks and $11,000,000 in Truasury cash, and a decrease of $46,000,000,in Reserve Bank credit, offset in part by increases of $9,000,000 in gold stock,/f^OOO,000 in Treasury currency, and de­ creases of $11,000,000 in money in circulation and $34,000,000 in nomember deposits and other Federal Reserve accounts. Excess reserves of member banks on July 23 were estimated to be approximately $5,180,000,000, a decrease of $160,000,000 for the week'. Changes in member bank reserve balances and related items during the week and the year ended July 23, 1941, were as follows* Increase or decrease since July 23, July 16, July 24, 1941 1941 1940 (in millions of dollars) Bills discounted 3 + 1 — U. S. Government direct obligations 2,179 — - 264 U. S. Government guaranteed obligations 5 2 Industrial advances (not including 11 million commitments - July 23) 10 — + 1 Other Reserve Bank credit 51 - 47 + 22 Total Reserve Bank credit 2,248 - 46 - 243 Gold stock 22,664 + 9 +2,297 Treasury currency 3,161 + 4 + 141 Llcnbcr bank reserve balances 13»117 -106 — 448 Honey in circulation 9>634 - 11 +1,780 Treasury cash 2,320 + 11 + 91 Treasury deposits with F. R. Banks 954 +105 + 311 II0nr.1er.1ber deposits and other F. R. accounts 2,047 34 + 459 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fom F.. R. 283-a Released for publication Friday corning, July 25» 1941 j not earlier. STATEMENT OF CONDITION OF THE THELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since July 23, July 16, July 24, 1941 1941 1940 A S S E T S Gold certificates on hand and due fron U. S. Treasury 20,302,531 - 5,001 +2,188,555 Redenption fund - F. R. notes 16,271 + 4,085 + 3,4l8 Other cash 293,072 + 9.790 - 87,212 Total reserves 20,611,874 + 8,874 +2,104,761 Bills discountedt Secured by U. S. Gov’t obligations, direct and guaranteed 905 . 25 93 Other bills discounted ...1*821 + 457 + 94 Total bills discounted 2,728 + 432 + 1 Industrial advances 9,853 + 46 + 750 U. S. Government securities, direct and guaranteed: Bonds 1,363,800 — + 40,604 Notes 820.300 — - 306,432 Total U. S. Government securities, direct and guaranteed 2,184,100 - 265,828 — Total bills and securities 2,196,681 + 478 - 265,077 Due fron foreign banlcs 47 — — F. R„ notes of other banks 29,911 219 + 8,718 Uncollected items 936,334 -184,173 + 281,440 Bank prenises 40,429 15 1,003 Other assets 46,641 + 745 - 10,512 T O T A L A S S E T S 23,861,917 -174,310 +2,118,327 L I A B I L I T I E S F. R, notes in actual circulation 6,771,077 - 3,001 +1,547,795 Deposits * Member bank-reserve account 13,117,089 -105,943 - 447,472 U. S. Treasurer - General account 954,398 +105,026 + 311,473 Foreign 1,165,141 - 19,975 + 350,559 Other deposits 593.544 - 13,655 + 80,691 Total deposits 15,830,172 - 34,547 + 295,251 Deferred availability items 885.278 -137,488 + 259,268 Other liabilities including accrued dividends 2,658 + 543 TOTAL LIABILITIES 23,489,185 -174,493 +2,102,767 C A P I T A L A C C O U N T S Capital paid in 140,889 + 92 + 3,429 Surplus (Section 7) 157,065 --- + 5,345 Surplus (Section 13b) 26,785 54 Other capital accounts 47,993 + 91 + 6,840 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,861,917 -174,310 +2,118,327 Ratio of total reserves to deposit and F. R. note liabilities combined 91,256 + .2* + 2*0$ Commitments to make industrial advances 11,393 557 + 2,806 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 JULY 23, 1941 (in thousands of dollars) A S S E T S Total Boston New York Phila, Cleve. Rich. Atlanta 1Chicago St.Louis Minn. KannwCy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 20,302,531 1,213,897 8,816,271 1,188,943 1,574,362 672,053 471,784 3,325,273 544,558 340,233 473,185 321,346 1,360,626 Redemption fund-F,R, notes 16,271 5,113 1,656 416 799 1,324 656 1,593 999 594 548 786 1,787 Other cash 293,072 22,478 68,053 20,458 17,191 18,647 26,613 38,956 18,718 5,972 11,953 13,115 30,918 Total reserves 20,611,874 1,2/1,488 8,8o5,980 1,209,817 1,592,352 692,024 499,053 3,365,822 564,275 346,799 485,686 335,247 1,393,331 Bills discounted» Secured by U.S.Gov’t obligations, direct and guaranteed 905 37 420 50 100 8 20 50 45 40 19 91 25 Other bills discounted 1,823 1,285 36 22 “ 38 —* *— 169 95 168 10 Total bills discounted 2,728 37 1,705 86 122 8 58 50 45 209 114 259 35 Industrial advances 9,853 1,106 1,533 3,557 340 800 168 419 — 447 959 353 171 U.S.Government securities? direct and guaranteed» Bonds 1,363,800 99,286 384,113 107,301 141,895 74,720 57,484 166,999 65,886 38,477 66,280 53,594 107,765 Notes 820,300 59,719 231,036 64,54*1 85,348 44,943 34,577 100,446 39,630 2.3,144 39,864 32,235 64,817 Total U. S. GovH securities« direct and guaranteed 2,184,100 159,005 615,149 171,842 227,243 119,663 92,061 267,445 105,516 61,621 106,144 85,829 172,582 Total bills and securities 2^96,681 160,148 618,387 175,485 227,705 120,471 92,287 267,914 105,561 62,277 107,217 86,441 172,788 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 29,911 983 2,904 1,588 1,736 6,356 2,305 2,804 2,586 1,781 2,050 762 4,056 Uncollected items 936,334 87,206 220,893 62,659 116,521 81,167 32,586 131,365 52,955 22,510 37,877 31,802 58,793 Bank premises 40,429 2,805 10,107 4,766 4,500 2,687 1,969 3,007 2,302 1,353 2,948 1,181 2,804 Other assets 46,641 3,153 12,415 3,942 5,263 2,824 1,960 5,374 2,126 1,378 2,189 1-994 4,023 T O T A L A S S E T S 23,861,917 1,495,786 9,750,704 1,458,262. 1,948,081 905,531 630,162 3,776,292 729,806 436,098 637,968 457,428 1,635,799 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. F.. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 23, 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 »,771,077 560,594 1,790,887 469,384 639,316 318,744 220 ,643 1,457?220 251,692 172,710 226,005 106,655 557,227 Deposits* ¡,117,089 683,970 6,416.098 688,859 967,150 395,494 280,243 1,840,713 319,439 167,700 286,445 2^6,106 834,872 954,398 79,136 301,647 69,221 63,140 39,496 36,103 154,015 49,421 34,309 41,043 37,124 49,743 Foreign .,165,141 54,345 443,201 113,008 107,183 50,096 40,776 139,804 34,951 25,631 33,786 33,7-6 88,574 Other deposits 593,544 9,194 474,601 18,426 27,731 5,754 7,329 4,446 9,264 5,860 2,582 1,515 26,842 Total deposits ,830,172 826,645 7,635,547 889,514 1,165,204 490,840 364,451 2,138,978 413,075 233,500 363,856 308,531 1,000,03] 885,278 82,383 195,157 64,609 108,884 79,631 31,369 131,970 53,118 20,095 36,696 30,659 50,707 Other liabilities including accrued dividends 2,658 553 527 212 259 278 68 295 81 90 109 120 66 TOTAL LIABILITIES 2 ,,489,185 1,470,175 9,622,118 1,423,719 1,913,663 889,493 616,531 3,728,463 717,966 426,395 626,666 445,965 1,608,03] m c* A S. Capital paid in 140,889 9,352 51,639 11,925 14,515 5,528 4,834 15,165 4,343 3,000 4,544 4,278 11,766 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 1,133 1,263 2,121 Other capital accounts 47,993 .2,479 13,430 3,081 4,573 2,019 2,359 3,411 2,039 2,551 2,007 1,948 3,096 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1,861,917 1,495,786 9,750,704 1,458,262 1,948,081 905,531 630,162 3,776,292 729,806 436,098 '637,968 457,428 1,635,79S Commitments to make industrial advances 11,393 1,419 1,528 2,186 962 779 49 2 352 31 437 39 3,609 MATURITY DISTRIBUTION OF BILLS AND SECURITIES ïïithin 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 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,728 2,236 20 93 143 236 Industrial advances 9,853 2,072 309 228 1,225 885522 11,,4400£8 1,475 2,284 U. S. Government securities, direct and guaranteed 2,184,100 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. 28>*d FEDERAL RESERVE NOTE STATEMENT Oil JULY 23, 1941 (in thousands of dollars) Total Boston Nev; 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 7,150,196 587,082 1,899,890 491,295 665,493 341,331 246,881 1,491,898 266,733 178,491 236,684 120,627 623,791 Held by Federal Reserve Bank 379,119 26,488 109,003 21,911 26,177 22,5(37 26,238 34,678 15,041 5,781 10,679 13,9-72 66,564 In actual circulation 6,771,077 560,594 1,790,887 469,384 639,316 318,744 220,643 1,457,220 251,692 172,710 226,005 106,655 557,227 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from U. S.Treasury 7,305,500 615,000 1,910,000 500,000 670,000 370,000 255,000 1,520,000 279,000 181,000 240,000 126,500 639,000 Eligible paper 2,204 37 1,705 86 — • ' 8 — 45 209 114 — Total collateral 7,307,704 615,037 1,911,705 500,086 670,000 370,008 255,000 1,520,000 279,045 181,209 240,114 126,500 639,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis