H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Pown-g» R. 283 S T A T E M E N T F O R T H E P R E S S R e l e a s e d f o r p u b l i c a t i o n B o a r d o f G o v e r n o r s F r i d a y m o r n i n g , D e c e m b e r 1 9 ; >f t h e F e d e r a l R e s e r v e S y s t e m n o t e a r l i e r . D e c e m b e r 1 8 , 1 9 U l C O N D I T I O N C F T H E F E D E R A L R ¿ S E R V E B A N K S D u r i n g t h e w e e k e n d e d D e c e m b e r 1 7 m e m b e r b o n k r e s e r v e b a l a n c e s d e c r e a s e d £ 7 2 2 , 0 0 0 , 0 0 0 . R e d u c t i o n s i n m o m b o r b a n k r e s e r v e s a r o s e f r o m i n c r e a s e s o f ^ 7 6 8 , 0 0 0 , 0 0 0 i n T r e a s u r y d e p o s i t s w i t h F e d e r a l R e s e r v e B a n k s , ¿ > 1 8 9 , 0 0 0 , 0 0 0 i n m o n e y i n c i r c u l a t i o n , a n d $ ( 3 , 0 0 0 , 0 0 0 i n T r e a s u r y c a s h , a n d a d e c r e a s e o f 50 $ 2 7 , 0 0 0 , 0 0 0 i n I d stocJf, o f f s e t i n p a r t b y i n c r e a s e s o f v l i + 7 , 0 0 0 , 0 0 0 i n R e s e r v e B a n k ‘c r e d i t a n d ^ 2 , 0 0 0 , 0 0 0 i n T r e a s u r y c u r r e n c y , a n d a d e c r e a s e o f ¿ 1 2 1 , 0 0 0 , 0 0 0 i n n o n m e m b e r d e p o s i t s a n d o t h e r F x i e r a l R e s e r v e a c c o u n t s . E x c e s s r e s e r v e s o f m e m b e r 090 b a n k s o n D e c e m b e r 1 7 w e r e e s t i m a t e d t o b e a p p r o x i m a t e l y |>3, ,0 0 0 , 0 0 0 , a d e c r e a s e o f $ 7 5 0 , 0 0 J , u O O f o r t h e w o o k * T h e p r i n c i p a l c h a n g e i n h o l d i n g s o f b i l l s a n d s e c u r i t i e s w a s a n i n c r e a s e o f $ 1 x 3 , 0 0 0 , 0 0 0 i n U n i t e d S t a t e s G o v e r n m e n t s e c u r i t i e s , d i r e c t a n d g u a r a n t e e d : h o l d i n g s o f b o n d s i n c r e a s e d ^ 4 5 * 0 0 0 , 0 0 J a n d o f b i l l s d e c r e a s e d ¿ 2 , 0 0 0 , 0 0 0 . C h a n g e s i n m e m b e r b a n k r e s e r v e b a l a n c e s a n d r e l a t e d i t e m s d u r i n g t h e w e e k a n d t h e y ^ a r e n d e d D e c e m b e r 17# l y U l , w e r e a s f o l l o w s ; , I n c r e a s e o r d e c r e a s e s i n c e 17 jl'^c. , j. j e c # 10, IjC'C # 18, 1 9 U 1 9 U 1 1 9 U 0 ( I n m i l l i o n s o f d o l l a r s ) Bills discounted 5 + 1 ♦ 1 Government direct obligations 2,235 + 4 56 U. S. Government guaranteed obligations 5 U , S # Industrial advances (not including 15 million c o m m i t m e n t s - D e c e m b e r 1 7 ) 1 0 - - + 3 178 O t h e r R e s e r v e B a n k c r e d i t + 1 0 3 * 6 8 Total Reserve Bank credit 2,1x35 +1*^7 + 127 Gold stock 22,7U7 - 27 + 81x9 Treasury currency 3*238 + 2 + 157 Member banic reserve balances 12,1+97 - 7 2 2 - 1 , 3 0 7 Money in circulation 4 89 1 1 , 0 2 3 I + 2 , 3 0 7 Treasury cash + 8 2 , 1 9 3 - 1 1 Treasury deposits with F. R.Banks 9^5 4708 + 355 Nonmember deposits and other F. R« accounts - 1 , 7 b 0 - 1 2 1 2 1 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-a R e l e a s e d f o r p u b l i c a t i o n F r i d a y m o r n i n g , D e c e m b e r 1 9 , 194-1; n o t e a r l i e r . STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n t h o u s a n d s o f d o l l a r s ) I n c r e a s e o r d e c r e a s e s i n c e D e c . 17, D e c . 1 0 , D e c . 1 8 , 9+1 I I 1 9 4 1 1 9 ^ 0 A S S E T S Gold certificates on hand and due from IL S. Treasury 20,516,016 - 34,999 4 855,235 Redemption fund - F. R. notes li I,5ö6 700 4 3,358 Otner cash 223,760 - 7,323 - 24,238 Total reserves 20,754,368 - 45,588 4 834,355 bills discounted* Secured by u. S. Gov’t obligations, direct and guaranteed 2,831 ♦ 1,379 4 1,021 Other bills discounted 2,473 135 - 66 Total bills discounted 5,3^4 ♦ 1,244 4 955 Industrial advan c e s 9,711 61 4 2,278 U. S. Government securities, direct ana guaranteed: Bends 1,452,070 + 45,270 4 167,470 Notes 777,300 — - 122,200 Bills 10,370 - 2,000 4 10,370 Total U. S. Government securities, direct ancT guaranteed 2,239,740 + 43,270 4 55,o4o Total bills and securities 2,254,755 + 44,453 4 58,873 Due from foreign banks 47 F. R. notes of other banks 29,475 - 2,596 4 6,582 Uncollected items i,it49,c>34 +514,133 4 425,190 Bank premisjs 41,154 + 103 - 67 Other assets 41,150 - h ,334 - 5,395 T O T A L A S S E T S 24,570,603 +501,171 4l ,319,538 L I A B I L I T I E S F. R. notes in actual circulation 8,014,326 +175,929 42,130,751 Deposits: Member bank - reserve account 12,497,269 -722,119 -1,307,167 U.S.Treasurer- General account 925,258 +708,117 354,806 4 Foreign 852,905 - 82,148 287,180 - Other deposits 629,780 - 48,918 4 6.7,642 Total deposits 14,905,212 - 85,068 ,171,899 - 1 Deferred availability items 1,271,261 +411,130 4 356,995 Other liabilities including accrued dividends 5,564 '- 1,973 4 435 TOTAL LIABILITIES 24,196,363 +500,018 4 1 , 3 1 6 , 2 8 2 C A P I T A L A C C O U N T S Capital paid in 142,037 + 732 4 3,824 Surplus (Section 7) 157,065 — 4 5,345 Surplus (Section 13b) 26,735 — - 54 Gthur capital accounts 48,353 ♦ 21 - 5,859 U T O T A L LIABILITIES AND CAPITAL ACCOUNTS 24,570,603 4501,171 4l ,319,538 R a t i o o f t o t a l r e s e r v e s t o d e p o s i t a n d F* 90.6% - .5; .1% R . n o t e l i a b i l i t i e s c o m b i n e d Commitments to make industrial advances 15,139 ♦ 202 4 8,835 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283~b STATELIEST OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 17, 1941 (In thousands of d^ll^rs) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ka.ns.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 20,516,016 1,171,897 8,152,557 1,268,1+00 1,662,792 805,459 51+9,586 5, '-(22,697 °15, ^95 571* 086 5i+U,203 1,340,094 Redemption fund - F.R.notes l4,53b 4,233 1,1+16 1,032 1,029 l,3ol 503 1,239 ojk .1+12 777 532 1,328 Other cash 223,7o6 23,269 44,857 13,357 15,231 11,1+84 14,475 35,651 1?. i+35 k,o(U 10.301 11,090 23,956 Total reserves 20,754,368 1,199,399 8,198,830 1,282,789 1,079,052 816,231+ 564,562 5,459,5^7 j*i,204 376,172 555,281 425,850 1,505,378 Bills discounted: Secured by U* S. Gov’t obligations, direct and guaranteed 2,831 25 1*135 9^2 332 — bh, — 55 150 85 U5 18 Other bills discounted 2,¿4-73 -- 25 106 109 — 6 21 — — 2,01+5 150 11 Total bills discounted 5>30i+ 25 l,l60 1,028 ifi+l — 7'0 21 55 150 2,130 195 29 Industrial advances 9*7H 1,887 1,105 3,390 239 769 i+72 3kl 500 519 87 272 130 U. S. Government securities, direct and guaranteed* Bonds 1,452,070 112,194 380,421 114,580 143»¿94 88,925 61,092 197,138 73,143 42,911+ 62,063 50,726 124,530 Notes 777,500 60,059 203,041 61,535 76,920 1+7,602 33,025 105,555 39,1:* 973 55,225 27,154 60,061 Bills 10,370 801 2,717 818 1,026 635 44l 1,4-0 523 307 443 362 689 Total ü. S* Gov’t securities, direct~nd~güäTränt6ed 2/239,740 173,054 536,779 176,733 221,61+0 137,102 95,158 504,151 112,old 06,194 95,729 70,^42 192,080 Total bills and securities 2,254,755 174,960 589,01+4 181,151 222,520 157,951 95,700 304,513 113,5/3 OO,803 97,946 73,709 192,259 Due from foreign ban^s 47 5 18 5 4 2 2 0 1 -* l 1 4 F. R. notes of other banks 29,475 573 2,014 1,210 2,095 7,824 5,54! 5,252 2,o47 1,2S9 2,454 631 2,790 Uncollected items 1,449,654 157,045 550,823 94,286 194,555 111,655 60,576 214,242 & s j ^+9! 51,535 53,964 49,360 100,604 Bank premises 1+1,154 2,782 10,734 4,876 4,451 2,9°4 1,952 2,yo 0 d. 5 c^ 'Jb 1,54-1 cl . OO 0 1,144 2,772 Other assets 41,150 2,975 10,635 5,255 4,463 2,695 1,720 5,170 1;9?0 1,275 1,669 1,459 5,395 ■T0TA,L A S S E T S 24,57^,605 1,517,740 9,142,090 1,567,574 2,100,925 1,079,555 727,855 5,989,750 016,514 47^,495 719,195 >57,662 1,867,680 ♦Less than v:500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 283-c ST^TEKENT OF CONDITION OF THE FEDERaL RESERVE B^KKS Olï DECEIiBER 1?, 1941 (In thousands of dollars) L I A B I L I T I E S Total Boston Novi York Phila. Clevo. Rich. Atlanta Chicago St;• Louis Minn* K^s.Cy. Dallas San Fran. F. R. notes in actual cir­ culation 0,011+, 326 657,761+ 2,o'76,095 562,708 75Ö,2o7 422,039 272,172 l,o7ó,862 314,1+25 202,281 257,105 132,987 601,601 Deposits ; Member bank-reserve acct. 12,1+97,269 533,352 5,566,81+2 693,75^ 953,281 460,885 316,602 1,810,676 343,351 175,301 333,292 301,067 957,770 Treasurer-General acct. 925,25$ 31+, 73I+ 245,251 61+, 911+ 85,546 37,935 32,543 157,071 49,336 33,^15 37,484 142,490 29,439 U . S . Foreign 552,905 31,901 340,1+57 01,332 77,11+0 36,055 29,347 100,ol7 25,154 18,i+4f' 24,316 24,316 63,703 Other deposits 629,780 9,1+55 503,655 16,833 25,694 7,679 8,379 6, O40 10,214 9,343 3,420 1,093 27,932 Total deposits 14,905,212 709,502 6,656,235 876,829 1,l4l,66l 542,604 306,871 2,074,412 1+28, 0O5 241,511 393,512 369,566 1,078,904 Deferred availability items 1.,271,261 124,149 279,250 93,059 171,604 90,083 54,905 189,455 61,190 24,872 52,010 43,403 79,00] ether liabilities includ:ing accrued dividends 5,564 606 1,585 I+24 595 429 1ÓÓ 612 153 145 215 19Ó 373 TCTaL LIABILITIES 24,196,363 1,492,081 9,013,165 1,533,020 2, ;72,347 1,003,155 714,114 3,941,341 CO O 468,309 707,042 546,152 1,039,964 C A P I T A L A C C 0 U IT T S Japitul paid in 142,037 9,379 51,300 n,905 li)., Óló 5,704 4,880 15,575 4,4o6 2,999 4,595 4,357 11,021 Surplus (Section 7, 157,065 10,906 5o,.+47 15,144 11+, 323 5,247 5,725 22,824 4,925 3,152 3,ol3 3,974 10,785 Surplus ''Section ljb) 2o,785 2,874 7,070 4,393 1,007 3,244 713 1 , 533 1,000 1,13s 1,263 2,121 ■.tier capital accounts 4->, 353 2,508 13,016 3,112 4,030 2,003 2,401 8,501 2,077 2,533 2,007 1,916 2,939 Is. Tj±L LIABILITIES AKD JaPIT^L ACCOUNTS cLl Í ±. $570,603 +, 517,1 ho 9,llx2,09ö l,567,574 2,106,923 1,079,353 727,835 3,969,730 816,314 47o,i+93 719,195 557,002 1,867,080 "orjuitiaents to make industrial advances 15,139 459 1+Ó0 2,55o 1,11+1 913 1,777 1,050 1,202 23 1,500 23 3,230 MATURITY DISTRIBUTION OF BILLS AND SEC Jul ties Within lo to Jl to 6l to 91 days to 6 months 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 mo,nths to 1 Year to 2 Years 5 Years 5 Years Oills discounted 5,304 2,709 231 107 337 1 61+6 I4I+ Industrial advances 9,711 3,239 520 562 203 1,008 1,232 1,569 1,370 U. S. Government securities, direct and guaranteed 2,239,71+0 1,000 95,170 97,000 21+7,200 1+77,000 1,322,370 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28}-d FEDERAL RESERVE NOTE STATETENT ON deceiver 17, 1941 (ln thousands of dollars) T o t a l B o s t o n N e w Y o r k P h i l a . C l e v e . R i c h . A t l a n t a . C h i c a g o S t . L o u i s ¿linn. K a n s . C y . D a l l a s S a n F r a n . F e d e r a l R e s e r v e n o t e s s 8 1407,565 1+49 294,94$ U+5,9^4 I s s u e d t o F . R . B a n k b y F . R . A r e n t , . ¿ 7 9 , 2 5 2 2 , 1 6 8 , 2 5 5 5 o 7 , S 2 2 7 8 7 , 0 7 5 , $ 9 8 1 , 7 1 7 , 8 8 5 5 5 1 , 5 7 0 2 0 7 , 5 2 9 2 6 0 , 2 7 9 7 6 8 , 5 3 d 92,140 29,580 H e l d b y F e d e r a l R e s e r v e B a n k 5 9 5 , 2 5 9 d , 4 3 u 2 4 , 3 1 4 2 7 , 8 5 9 2 2 , 7 7 6 1 + 1 , 0 2 3 1 7 , 1 4 5 5,21+8 1 1 , 1 7 1 + 1 2 , ¿ 9 7 3 6 , 9 8 7 657,764 1 676,062 I n a c t u a l c i r c u l a t i o n 3 , 0 1 4 , 3 2 6 2 , 0 7 o , 0 9 5 5 6 2 , 7 0 8 7 5 8 , 2 o 7 1 + 2 2 , 0 5 9 2 7 2 , 1 7 2 , 3 1 4 , 1 + 2 5 2 0 2 , 2 8 1 2 5 7 , 1 0 5 1 5 2 , 9 3 7 6 c l , 6 0 1 C o l l a t e r a l h o l d b y a g e n t a s s e ­ c u r i t y f o r n o t e s i s s u e d t o b a n k : G o l d c e r t i f i c a t e s o n h a n d a n d d u e f r o m U . S. T r e a s u r y 8 , 5 6 2 , 0 0 0 7 0 0 , 0 0 0 2 , 1 8 5 , 0 0 0 6 1 5 , 0 0 0 7 9 0 , 0 0 0 1 + 7 5 , 0 0 0 5 0 0 , 0 0 0 1 , 7 4 0 , 0 0 0 5 4 0 , 0 0 0 2 1 1 , 0 0 0 2 7 0 , 0 0 0 1 5 2 , 0 0 0 7 8 4 , 0 0 0 4,4l5 150 E l i g i b l e p a p e r 2 5 1 , 1 6 0 9 2 2 — — — — 5 4 2 , 1 0 4 Total collateral 8,566,1+15 700,025 2,180,160 615,922 790, 0u0 475,000 3^0,000 1,740,000 31+0,054 211,150 272,104 152,000 784,0j0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis