H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. ?.. 2o3 STATEMENT FOP. THE PRESS Released for publication Board of Governors Friday morning, August 1; of the Federal Reserve System not earlier. July 31, 1941. CONDITION C? .THE FEDERAL RESERVE BANKS During the week ended July 30 member bank reserve balances decreased $20,000,000. Reductions in member bank reserves arose from increases of $63,000,000 in money in circulation and $10,000,000 in Treastiry cash and a decrease of $39000,000 in Reserve Bank credit, offset in part by increases of $9,000,000 in gold stock and $2,000,000 in Treasury currency and decreases of i’33,000,000 in Treasury deposits with Federal Reserve Banks and $11,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on July 30 wore estimated to be approximately $5,160,000,000, 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 July 30, 19-41, were as follows* Increase or decrease since July 30, July 23, July 31, 1941 1941 1940 (in millions of dollars) Bills discounted 5 + 2 + 1 U. S. Government direct obligations 2,179 - 262 U. S. Government guaranteed obligations 5 — 2 Industrial advances (not including 12 million *i commitments - July 30) 10 j- Other Reserve Bank credit 46 —. 5 + 23 — Total Reserve Bank credit 2,245 3 239 Gold stock 22,673 9 + 2,ZL0 Treasury currency 3,163 + 2 + 139 Member bank reserve balances 13,097 — 20 401 Money in circulation 9,697 + 63 + 1,814 Treasury cash 2,330 + 10 + SO Treasury deposits with F. R. Banks 921 - 33 + 227 Nonmember deposits and other F. R. accounts 2,036 - 11 + 392 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fbrn F. R. 2.83-a Released for publication Friday norning, August 1, 1.941; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BMXS COMBINED (in thousands of dollars) Increase or decrease since July 30, July 23, July 31, 1941 1941 1940 A S S E T S Gold certificates on hand and due fron U. S. Treasury 20,302,533 + 2 +2,113,556 Redemption fund - F. R. notes 16,271 — + 3,419 Other cash _ 291*222 160 - 84,104 Total reserves 20,612,036 162 +2,032,871 Bills discountedi Secured by U. S. Gov’t obligations. direct and guaranteed 1,622 + 717 269 Other bills discounted 2,938 + 1,115 + 1,157 Toted. bills discounted 4,560 + 1,832 + 888 Industrial, advances 9,930 77 + 1,046 U. S. Government securities, direct and guaranteed: Bonds 1,363,800 — + 42. ,6o4 Notes 820,300 — - 306,432 Total U, S. Government securities, direct and guaranteed 2,184,100 — - 263,828 Total bills and securities 2,198,590 + 1,909 - 261,894 Due fron foreign banks 47 — - F. R. notes of other banks 26,338 - 3,573 + 4,905 Uncollected itens 881,425 - 54,909 + 240,623 Bank premises 40,396 - 33 1,021 Other assets 47,601 + 960 - 10,253 T O T A L A S S E T S 23,806,433 55,484 +2,005,231 L I A B I L I T I E S F. R. notes in actual circulation 6,829,182 + 58,105 +1,581,581 Deposits: I.ionber bank-reserve account 13,096,940 20,149 - 401,194 U. S. Treasurer - General account 921,055 - 33,343 + 226,972 Foreign 1,144,031 - 21,110 + 300,612 Other deposits 604,411 + 10,867 + 65,468 Total deposits 15,766,437 - 63,735 + 191,858 Deferred availability items 835,032 — 50,246 + 217,248 Other liabilities including accrued dividends . Jlam + 375 + 730 TOTAL LIABILITIES 23>433,684 - 55,501 +1,991,417 C A P I T A L A C C O U N T S Capital paid in 140,894 + 5 + 3,395 Surplus (Section 7) 157,065 + 5,345 Surplus (Section 13b) 26,785 — 54 Ouher capital accounts 48,005 + 12 + 5,128 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23>806,433 - 55,484' +2,005,23I Ratio of total reserves to deposit and F. R. note liabilities combined 91.2g — + 2.0% Commitments to make industrial advances 11,697 + 304 + 3,115 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. H. 28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS Oil JULY 30, 1941 (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 20,302,533 1,196,195 8,775,382 1,243,217 1,572,133 686,281 470,106 3,324,248 543,369 352,228 463,796 323,025 1,352,553 Redemption fund-F.R.notes 16,271 5,113 1,656 4l6 799 1,324 656 1,593 999 594 548 786 1,787 Other cash 293*232 22,461 69,813 20,509 21,288 14,431 24,189 40,570 16,854 6,683 11,929 12,751 31,754 Total reserves 20,612,036 1,223,769 8,846,851 1,264,142 1,594,220 702,036 494,951 3,366:,411 561,222 359,505 476,273 336,562 1,386,094 Bills discounted* Secured by U.S.Gov*t obligations, direct and guaranteed 1,622 87 940 201 100 8 20 30 101 19 91 25 Other bills discounted 2,938 2,271 74 22 38 — 172 78 273 10 Total bills discounted 4, 560 87 3,211 275 122 8 58 — 30 273 97 364 35 Industrial advances 9,930 1,302 1,533 3 ,562 338 820 168 43.7 447 825 347 171 U* S. Government sccuriti es, 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 64,541 85,348 44,943 34,577 100,446 39,630 23,144 39,864 32,235 64,817 Total U. S. Govtt 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^.98,590 160,394 619,893 175,679 227,703 H &O 0 92,287 267,862 105,546 62,341 107,066 86,540 172,788 Due fron foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F#R. notes of other banks 26,338 915 2,318 1,614 1,267 7,519 1,976 2,638 1,518 887 1,740 947 2,999 Uncollected itens 881,425 83,636 219,910 62,735 108,883 68,092 29,987 124,763 48,145 21,531 36,096 29,985 47,662 Bank prenises 40,396 2,801 10,107 4,756 4,500 2,687 1,966 3,001 2,299 1,353 2,948 1,181 2,797 Other assets -47,601 3,192 12,668 4,043 5,328 2,910 1,990 5,498 2,177 1,366 2,254 2,031 4,144 ? 0 T A L A S S E T S 23,806,433 1,474,710 9,711,765 1,512,974 1,941,905 903,737 623,159 3,770,179 720,908 446,983 626,378 457,247 1,616,488 ■*Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F. R. 28>*c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULI 30, 1941 (In thousands of dollars) L I A B I L I T I E S Total Boston Nev/ York Phila, Cleve, RRiicchh,, Atlanta Chicago St,Louis Minn. Kans.Gy« Dali F. R. notes in actual cir­ culation 6,829,132 567,789 1,807,570 472,665 664422,,998866 332244,,229944 223,687 1,464,312 254,234 172,203 227,760 108,108 Deposits* Member bank—reserve acct. 13,096,940 666,324 6,349,879 742,134 961,166 408,369 U.S.Treasurer-General acct. 921,055 71,018 313,931 64,947 69,588 34,432 Foreign 1,144,031 56,720 432,769 110,803 105,091 49,119 Other deposits 6o4ji4ll 10,443 477,505 21,285 27,796 5,761 .7,998 Total deposits 15,766,437 804,505 7,574,084 939,169 1,163,641 Deferred availability items 835,032 Other liabilities including accrued dividends 3,033 § \0 5) Dallas San Fran, 108,108 563,574 234,138 835,147 40,441 37,261 33>127 86,821 1,630 26,387 309,336 985,616 76,303 200,864 66,378 100,511 65,422 28,206 39,466 509 644 218 343 308 377 92 103 i4o 128 83 TOTAL LIABILITIES 23,433,684 1,449,106 9,583,162 1,478,430 1,907,481 887,705 609,510 3,722,359 709,048 437,279 615,079 445,778 1,588,739 C A P I T A L A C C O U N T S Capital paid in 140,894 9,344 51,646 11,921 14,522 5,531 4,836 15,169 3,000 4,545 4-280 11,757 Surplus (Section 7) 157,065 10,906 56,447 15,144 14,323 5,247 5,725 22,024 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 1,000 1,130 1,263 2,121 Other capital accounts 48,005 2,480 13,440 3,086 4,572 2,010 2,367 0,398 2,552 2,003 1,952 3,086 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,806,433 446,983 62.6,370 457,247 1,616,488 Commitments to make industrial advances 11,697 1,219 1,52S 2,193 960 779 49 2 706 31 571 39 3,620 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 d,,ys 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 4,560 3 »477 94 276 447 266 Industrial advances 9,930 2,283 325 278 1,124 1,127 1,082 1,431 2,280 — 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. 283*-d FEDERAL RESERVE HOTS STATEïâEIIT 01T JULI 30, 1941 (ln thousands of dollars) Total Boston lien York Phila, Cleve, Rieh, Atlanta Chicago St,Louis Minn, Xans.Cy. Dai3.as San Fran, pederal Reserve notes* Issued to F.F..Bank by F.F..Agent 7,179,380 600,l6l 1,805,717 492,320 667,990 348,310 ¿47,727 1,498,306 269,648 177,751 238,000 122,154 631,296 Held by Federal Reserve Bank 350,198 32,372 7S,l47 19,655 25,004 24,016 24,040 33,994 15,414 5,548 10,240 14,046 67,722 In actual circulation 6,829,182 567,789 1,807,570 472,665 642,986 324,294 223,687 1,464,312 254,234 172,203 227,760 108,103 563,574 Collateral, held by agent as security for notes issued to b,.nl:J 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 1,320,000 279,000 181,000 240,0^0 126,500 639,000 Eligible paper 3,937 87 3,211 235 — 8 — — 30 269 97 Total collateral 7,309,437 615,087 1,913,211 500,235 670,000 370,008 255,000 1,520,0« 279,030 181,269 240,097 126,500 639,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis