H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. P.. 283 STATEMENT FOR HIE PRESS Released for publication Board of Governors Friday morning, Sept. 5j of the Federal Reserve System not earlier, September 4, 1941 CONDITION OF THE FEDERAL RESERVE BA1IKS During the week ended September 3 member bank reserve balances decreased $114,000,000. Reductions in member bank reserves arose from increases of $135,000-000 in money in circulation and $22,000,000 in Treasury cash, and a de­ crease of $40,000,000 in Reserve Bank credit, offset in part by increases of $6,000,000 in gold stock and $2,000,000 in Treasury currency, and decreases of $64,000,000 in Treasury deposits Tdth Federal Reserve Banks and $10,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of nenber banks on September 3 were estimated to be approximately $4,860,000,000, a decrease of $130,000,000 for the week. Changes in nenber bank reserve balances and related items during the tvvek and the year ended September 3, 1941, wore as follows« Increase or decrease since Sept. 3, Aug. 27, Sept, 4, Ï941 1941 1940 (In millions of dollars) Bills discounted 12 + 2 + 6 U. S. Government direct obligations 2,179 — - 240 U. S. Government guaranteed obligations $ 2 Industrial advances (not including 13 million cormitncnts — September 3) 10 — + 1 Other Reserve Bank credit 35 - 42 — 7 Total Reccrve Bank credit 2,241 - 4o 249 Gold stock 22,722. + 6 +1,778 Treasury currency 3,180 + 2 + 144 Member bank reserve balances 12,384 -114 640 Lioney in circulation 10,034 +135 +1,942 Treasury cash 2,400 + 22 + 108 Treasury deposits with F, R. Biinks 708 - 64 - < r ■ s> > o 3 Nonnember deposits and other F. R. accounts 2,118 - 10 + 347 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form i1. E. 283"a Released for publication Friday morning, September 5, 1941; not earlier* STATELOTT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept, 3, Aug. 27, Sept. 4, 1941 1941. 1940 A S S E T S Gold certificates on hand and due fron U. S. Treasury 20,299,032. 500 +1,667,735 Redenption fund - F. R. notes 15,146 265 + 3,748 Other cash “^£*752 - 86,861 231,95.1 Total reserves 20,550,131 - 39,517 +1,584,622 Bills discounted» Secured by U. S. Gov’t obligations, direct and guaranteed 2,197 210 + 694 Other bills discounted 10,222 + 2,249 + 6,191 Total bills discounted 12,419 + 2,039 + 6,885 Industrial advances 9,681 + 118 + 1,036 U. S. Government securities, direct and guaranteed» Bonds 1,363,800 + 45,200 Notes 82.0,300 - - 294,700 Total U. S. Government securities, direct and guaranteed 2,184,100 - - 249,500 Total bills and securities 2,206,200 + 2,157 - 241,579 Due fron foreign banks 47 — — F. R. notes of other banks 37,002 + 2,767 + 15,701 Uncollected items 933,518 - 20,910 + 269,949 Bank premises 40,588 53 - 719 Other assets .51*364 + 1,144 — 9,866 T O T A L A S S E T S 23,818,850 - 54,412 +1,610,100 L I A B I L I T I E S F. R. notes in actual circulation 7,117,836 +110,910 +1,727,051 Deposits: Member btmic - reserve account 12,884,32.3 ' “113,332 - 639,53o U. S. Treasurer - General account 708,465 - 63,609 - 82,717 Foreign 1,152,015 - 684 + 154,499 Other deposits 681,726 - 8,197 + 169,201 Total deposits 15,426,529 -185,822 - 398,555 Deferred availability items 898,687 + 20,768 + 276,967 Other liabilities including accrued dividends 3,080 235 + 227 TOTAL LIABILITIES 23,446,132 - 54,379 +1,605,690 C A P I T A L A C C O U N T S Capital paid in 140,970 + 28 + •3,3G4 Surplus (Section 7) 157,065 — + 5,3 45 Surplus (Section 13b) 26,785 - 54 — Other capital accounts 47,898 61 + TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,818,850 - 54,412 +1, O <- l 1 u rv ¡ - j i lOv Ratio of total reserves to deposit and F. R. note liabilities combined 91.256 + 1.156 + ±♦0/0 Commitments to make industrial advances 12,872 56 + 4,680 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 3,> 1941 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve,, Rich. Atlanta Chicago St.Louis: Minn. Kar.s. Cy.1 Dallas San Fran. Gold certificates on hand and due iron U.S. Treasury 20,299,032 1,145,589 8,500ÿ72ü 1,316,772 1,609,320 731,463 491,857 3,361,962 544,860 360,833 486,724 336,327 1,412,597 Redemption fund - F.R,notes 15,146 4,916 903 1,069 975 1,136 491 1,269 913 559 487 738 1,690 Other cash 235,953 21,770 55,761 15,169 13,033 9,7 65 20,721 33,476 13,366 5,3-2 11,061 10,778 24,866 Total reserves 20,550,131 1,172,275 8,557,392 1,333,010 1,624,133 742,364 513,069 3,396,707 559,139 366,774 498,272 347,8^3 1,439,153 Bills discounted! Secured by U. S. Gov’t obligations, direct and guaranteed 2,197 — 1,670 58 100 35 20 — 27 75 O ri 154 50 Other bills discounted 10,222 — 9,297 26 37 9 44 24 56 86 86 542 15 Total bills discounted 12¿419 - 10,967 84 I37 44 64 24 83 161 94 696 65 Industrial advances 9,681 1,447 1,183 3,725 26C 817 l6l 329 —« 458 831 298 164 / U. S. Government securitiesr> direct and guaranteed: Bonds 1,363,800 99,286 324,113 107,301 141,895 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. Gov’t 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 2,206,200 160,452 627,299 175,651 227,648 120,524 92,236 267,798 105,599 62,240 107,069 86,823 172,811 / / Due from foreign banks 47 3 18 5 4 2 2. 6 1 * 1 1 4 F. R. notes of other banks 37,002 1,176 5,308 1,429 1,695 10,950 2,648 3,016 2,321 1,993 2,713 710 3,043 Uncollected items 933,518 78,998 194,9/4 57,345 120,712 89,330 43,680 133,147 56,054 25,642 43,749 36,598 53,319 Bunk premises 40,588 2,796 10,262 4,827 4,488 2,740 1,963 2,997 2,294 1,348 2,916 1,166 2,791 Other assets 51,364 3,498 13,7,27 4,310 5,762 3,044 2 ,168 6,036 2,389 1,481 2,469 2,005 A,475 T O T A L A S S E T S 23,818,850 1,419,198 9,408,950 1,576,577 1,984,44.2 968,954 655,816 3,809,707 727,797 459,478 657,189 475,146 1,675,596 *Less than 0500« Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-c STATEMENT OF CONDITION OF THE JEDERAL RESERVE BANKS 015 SEPTEMBER 3, 19-41 (In thousands of dollars) L I A B I L I I I S S Total Boston Hew York Phila. Cl eve. Rich. Atlanta !Chicago St,.Louis I.Iinn* Kans.Cy. Dallas San Fran. F. R. notes in actual cir— culation 7,117,836 595,136 1,858,150 495,115 676,726 352,741 237,498 1,507,956 265,266 180,359 236.713 114-958 597,218 Deposits: Llember bank-reserve acct. 12,884,323 630*932 6,048,717 783,759 937,599 439,098 294,284 1,842,156 322,849 168,790 297,330 251,300 867,519 U.S.Treasurer-General acct. 708,465 31,240 187,862 82,174 90,403 20,703 25,174 100,081 31,414 46,392 37,007 29,536 25,579 Foreign 1,152,015 55,489 445,793 110,155 104,477 48,832 39,747 136,274 34,0^9 0/ 32,933 32,933 86,329 Other deposits 681,726 7,295 568,998 -14,024 27,734 6,621 7,813 5,465 8,008 5,710 2,407 760 26,091 Total deposits 15,426,529 724,956 7,251,370 990,912. 1,160,213 515,254 367,018 2,004,776 396,340 245,876 369,667 314,629 1,005,518 Deferred availability items 39Q ¿37 73,170 170,017 55,749 112,673 84,622 37,554 168,961 54,216 23,425 39,359 33,953 44,988 Other liabilities including 5 accrued dividends 3,080 356 758 276 292 320 96 299 119 120 134 135 175 TOTAL LIABILITIES 23,440,132 1,393,618 9,280,295 1,542,052 1,949,904 952,937 642,166 3,761,992 715,941 449,700 645,073 463,675 1,647,89« C A P I T A L AC C O U N T S Capital paid in 140,970 9,351 51,698 11,907 14,603 5,538 4,840 15,083 4,348 3,002 4,550 4,286 11,764 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 1,130 1,263 2,121 Other capital accounts 47,898 2,449 13 5440 3,081 4,605 1,988 2,372 0,379 2,050 2,544 2,015 1,940 3,027 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,818,850 1,419,198 9,408,950 1,576,577 1,984,442 968,954 655,816 3,009,707 727,797 459,478 ¿57,109 475,146 1,675,596 Commitments to malee industrial advances 12,872 1,064 524 2,066 1,246 766 099 1,500 722 28 Xv 69 3,401 IIATURITY DISTRIBUTION OF BILLS AMD SZiCURITIES 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 12,419 8,223 1,9 63 957 1,175 99 2 ------ — — Industrial advances 9,681 2,366 391 173 984 1,101 1,498 l,66l 1,507 — U. S. Government securities, direct and guaranteed 2,184,100 — 43,0<X) 84,000 238,700 50/,000 1,233,600 — — — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

O H K Fcrc P. R. 283-d FEDERAL RESERVE IIOTE STATELIEST OK SEPTEMBER 3, 1941 (in thousands of dollars) Total Boston lieu York Phila. Cleve, Rich, Atlanta Cliicago St,Louis Minn, Kans.Cy. Dallas San Fran, dcral Rcrervo notes* ssued to F,R,Bonk by F.R,Agent 7,442,406 618,618 1,937,342 515,016 702,750 375,378 258,998 1,540,579 283,396 185,407 246,369 125,423 653,130 old by Federal Reserve Bank 324,570 23,482 79,192 19,901 26,024 22,637 21,500 32,623 18,130 5,048 9,656 10?4o5 55,912 /V In actual circulation 7,117,836 595,136 1,858,150 >495,115 676,726 352,741 237,498 1,507,956 265-266 180,359 236,713 114,950 597,218 Collateral held by agent as se­ curity for notes issued to bank 2 Gold certificates on hand and due f^on U, S. Treasury 7,556,000 635,000 1,940,000 520,000 705,000 400,0i0 265,000 1,560,0Tj 299,000 189,000 250,000 129,0''C 664,000 Eligible paper 11,253 — 10,882 64- — 35 27 157 88 — Total collateral 7,567,253 635,000 1,950,882 520,064- 705,000 400,035 265,000 1,560,000 799,027 189,157 250,088 129,000 664,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis