H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. H* 283 STATEMENT FOR THE FRESS Released for publication Board of Governors Saturday morning* December 27; of the Federal Reserve System not earlier. December 26, I9I4I CONDITION OF THE. FEDERAL RESERVE BANKS During the week ended December 2b member bank reservo balances de­ creased $5C,CCC,C'T« Reductions in member bank reserves arose from in­ creases of §2C1,CCC,0CC in money in circulation and v2,CCC,CCC in Treasury cash, offset in part by increases of $66,0CC,CCC in Reserve Bank credit, $6,CCC,CCC in Treasury currency, and v3>OCC,CCC in golc^f aha decreases of $17,CCC,CCC in Treasury deposits with Federal Reserve Banks and v6l,CCC,CCC in nonmember deposits and other Federal Reserve accounts. Excess reserves of number banks on December 2b were estimated to be approximately $3 * C6C, CC C, CCC, a decrease of v3 ^ * C Cr, C C' C for the week. The principal change in holdings of bills and securities was an in­ crease of v3#(CC,CO' in United States Government bonds* Changes in member bank rcscrv-, balances and related items during the week and the year ended December 2l+, 19^1, wer~ as follows: Increase or decrease since Dec# 2bj Dsc. 17 Dec. 2< 19 Ul 1941 194c (in millions of dollars) Bills discounted 7 + 2 + 3 U* S. Government direct obligations 2,23s + 3 + 59 U. S. Government guaranteed obligations 5 —- — Industrie! advances (not including 15 million commitments - Dec .mher 2b) 10 — + 2 Other Reserve Bank credit 239 +61 + 98 Total Reserve Bank credit 2 >499 +66 + 163 Gold stock 22,750 + 3 + 020 Treasury currency 3>2W + 6 + 162 Member bank reserve balances 12,447 -5C -1,39C Money in circulation 11,224 +2C1 +2,4:7 Treasury cash 2,195 + 2 - 18 Treasury deposits with F. R. Banks 9Cb -17 + 427 Nonmember deposits and oth^r F. R. accounts 1,719 -61 - 281 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28$-a Released for publication Saturday morning, December 27, 19^1; not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Dec • 2i+# Dec. 17, Dec. 24, 191+1 1941 1940 A S S E T S Gold certificates on hand and due from U. S, Treasury 20,515,018 998 + 834,236 Redemption, fund - F* R. notes 14, 68G + 102 + 3,460 Other cash 213,759 - 10,007 14,802 Total reserves 20,743,465 - 10,903 + 822,894 Bills discounted: Secured by U. Sf Gov’t obligations, + direct and guaranteed 5,ic4 + 2,273 3,305 uther bills discounted 1,965 508 - 436 Total bills discounted 7,c69 + 1,765 + 2,869 Industrial advances 9,710 1 2,112 U. S* Government securities, direct and guaranteed: Bonds 1,455, , 467 + 3,397 + 170,867 Notes 111 3cc — 122,200 Bills 10,570 + 10,370 Total U. S* Government securities, direct and guaranteed 2,243,137 + 3,397 59,037 Total bills and securities 2,259,916 + 5,161 64,018 Due from foreign banks hi F. R, notes of other bamcs 3?,906 + 3,431 + 6,364 Uncollected items 1,218,1(29 -231,225 + 304,005 Bank premises ii 1,143 11 45 Other assets ____ Í42.C96 + 9L6 4,835 T O T A L A S S E T S 24, 338,002 -232,601 n,,192,401 L I A B I L I T I E S F. R, notes in actual ciiculation 8,202,083 +187,757 ,237,145 Deposits: Member bank - reserve account 02,1)46,867 - 5c,4c2 »390,376 U. S• Treasurer-General amount 907,665 - 17,593 + 426,171 Foreign 806,967 - 43,938 - 302,295 Other deposits 61;., 028 - 16,752 + 12,621 Total deposits ”i4^7767527" -126,685 - 1,,255,679 Deferred availability items 979,104 -292,157 + 205,179 Other liabilities including accrued dividends 5,838 + 274 + iUoi TOTAL LIABILITIES 23,963,552 -232,811 +l,,189,0-46 c a p i t a l Capital paid in + ll£,ll4 + 77 3,84? Surplus (Section 7) + 157,065 5,345 Surplus (Section. 13b) 26,785 •vm m 54 Other capital accounts 48,486 + 133 - 5,783 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,338,002 -232,601 ,l9?,4rl Ratio of total reserves to deposit and F* R. note liabilities combined 9C.3% - *3% - • 3% Commitments to make industrial advances 14,969 170 + 8,716 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 DECEMBER 24, 1941 (In thousands of dollars) A S S E T S Total Boston York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. N e w Gold certificates on hand and due from U. S. Treasury 20,515,018 1,182,619 8,107 , 881+ 1,2 53,033 1,665,036 805,682 559,231 3,438,280 617,987 388,797 562,166 1+03,198 1,531,105 Redemption fund - F*L.notes ll+,683 4-, 193 1,21+1 961+ 975 1,936 477 1,179 662 408 765 574 1,314 Other cash 213,739 23,422 41,530 14-, 393 17,220 12,132 12,242 30,880 15,404 4,272 9,142 10,882 22,240 Total reserves 20,71+3,465 1,210,231+ 8,150,655 1,268,390 1,685,231 819,750 571,950 3,470,339 634,053 393,477 572,073 4i4,654 1,554,659 Bills discounted* oecured by U. S. GovTt obligations, direct and guaranteed 5,io4 1,485 2,275 942 100 — 64- -- 35 100 85 ... 18 Other bills discounted 1,965 — 65 106 88 --- 5 21 — 1,543 137 — Total bills discounted 7,069 1J+85 2,31+0 i,ol+8 188 --- 69 21 35 100 1,628 137 18 Industrial advances 9,7io 1,884 1,105 3,55l+ 242 766 1+76 301 4oo 498 87 272 125 U. S.Government securities, direct and guaranteed: Bonds 1,1+55,467 112,434 381,541+ 114-, 861 144-, 039 89,08I4- 61,819 197,584 73,270 42,997 62,185 50,835 124,815 Notes 777,300 t>o, 045 203,765 61,342 76,926 4.7,576 33,015 105,521 39,130 22,963 33,210 27,148 66,659 Bills 10,370 801 2,719 818 1,026 635 44i 1,408 522 306 443 362 889 Total U. S. Gov’t securities, direct and guaranteed 2,21*3,137 173,280 588,028 177 , 021 221,991 137,295 95,275 304,513 112,922 66,266 95,838 78,345 192,363 Total bills and securities 2,259,916 176,64-9 591,4-73 181,623 222,421 138,061 95, 820 304,835 H3,357 66,864 97,553 78,754 192,506 Due from foreign banks 47 3 18 5 1+ 2 2 6 1 * l 1 4 F. R. notes of other banks 32,900 756 2,911 1,508 2,080 7,596 3,152 4,706 3,181 1,665 2,o44 853 2,454 Uncollected irems 1,218,429 99,163 27l+,549 83,631 163,083 96,218 53,092 182,208 58,284 27,799 52,941 46,093 81,368 Bank premises 1+1,143 2,782 10,734- 4-, 865 4,4.39 2,978 1,9^9 2,987 2,278 1,341 2,88C 1,144 2,766 Cth^r assets 42,096 3,0^0 11,001+ 3,326 4-, 514 2,726 1,737 5,329 1,969 1,269 1,715 1,455 4,002 T O T A L A S S E T S 24,33 8,002 1,1^92,637 9,o4l,344 1,54-3,348 2,079,772 1,067,331 727,702 3,970,410 813,123 492,4-15 729,207 542,954- 1,837,759 ♦Less than s^500# Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F* R. 283-c STATEMENT CF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 24, 1941 (In thousands of dollars) L I i 3 I L I I E S Tctal Boston Nev# York Phila. Cl<-ve* Rich. Atlanta Chicago St.Louis Kinn. Xans.Cy. Dullas £ F* R. notes in actual cir­ culation 6,202,083 675,193 2,110,124 57S*2l|2 783*589 455,1445 279,526 1,716,610 322,210 207,265 262,823 155,861 Deposits* Member henk-reserve acct. 12,1446, 36? 568,500 5,565,200 680,200 936,574 1461,937 313,663 1,798,020 355,532 174,995 3 500,051 ¿-i-O J y jLO U.S.Treas^rer-General acot. 907*665 93,113 220,388 86,343 9^,169 3*,032 142,271 150,090 36,148 SO,216 ?9,£00 51,594 Foreign " 808*967 31,876 321,940 77, ola * / 7 ^ ^ /'v'7 34,152 27,790 95,309 23,827 17,473 02^ 0^3 23,033 Other deposits 613,028 13,659 486,779 15^26^ 2 öüi+ 7,o53 7,582 5,079 10,3-9 9,707 2,203 1,477 m-, Total deposits. 14,776, 527 700,948 6,594,567 858,847 1,129,1-97 52ö,954 ?91,5i4 2,oU8,498 ^ 5,8;,6 252,589 412,754 556,955 3 Deferred availability items 979,1014- 84,175 206,112 71,247 151,479 70,297 42,997 156,175 52,949 22,911 42,Oi4 56,410 Other liabilities including accrued dividends 5,538 607 1,721 447 617 434 162 724 175 162 218 216 TOTAL LIABILITIES' 23,963,552 1,1466,923 6,912,324 1,508,753 2,045,182 1,051,130 713,999 3,922,007 801,170 482,727 717,839 531,442 1 C A P I T A L A C C 0 U N T S Capital paid in il£, 114 9,399 ■51,803 11,905 14,636 5,708 4,880 15,588 4,407 3,003 4,599 4,359 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 Surplus (Section 13*>) 26,785 2,874 7,CJ70 4,393 1,007 3,244 713 1,429 533 1,000 1,13& 1,263 Other capital accounts 48,486 2,535 13,700 3,123 4,6214 2,002 2,385 ¿,562 2,088 2,533 2,018 1,916 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,338,002 1,492,637 9,o4i,344 1,543,346 2,079,772 1,067,331 727,702 3,970,410 613,123 492,415 729,207 542,954 1, Commitments to make industri a l advances 14,969 455 46o 2,659 1,01+8 874 1,771 1,850 1,201 26 1,500 23 M A T U R I T Y D I S T R I B U T I O N ‘ O F B I L L S A N D S E C U R I T I E S Mthin 16 to 31 61 to ^1 days to ò months 1 Y-ar 2 t o Y e a r s t o O v e r 15 days 30 daysi 60 days: 90 du’^s 6 months 1 to 2 5 5 Yuan T o t a l t o Y e a r Y ’s a r s Y e u r s Bilis discounted 7,0öQ 5,o64 276 112 283 1,214 120 — — mm mm Industrial advances 9*710 1,991 1,592 464 211 656 1,518 1,286 1,421 571 U. S. Gcvuynnent securities, direct and guaranteed 2,243, £37 — 1,000 — 95,170 — 97,000 247,200 •* O O O 1,325,767 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 24» I9I+I (In thousands of dollars) T o t a l B o s t o n K o w Y--ric P h i l a . CloV'.. 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 Liinn. K a n s . G 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 : Issued to F.R.Banic by f.r.Agent 8,592,656 694,556 2,204,909 6o4,4l6 813,677 461,468 302,1*61 1,756,6c2 34^,132 212,14-75 273,306 150,828 777*746 Ksld by Federal Reserve Bank 390,573 19*363 94.-065 26,174 30, 26,023 22,935 39,992 17*922 1C,4^3 14,967 82,551 C S O 5 , 2 1 0 in actual circulation 8,202,083 675*193 2,110,124 576,2/42 78i>,509 435*445 279*526 1,716,610 322,210 207,265 262,823 135*861 695*195 C o l l a t e r a l h e 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 j s i s s u e d t o b a n k s 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 due from U. S. Treasury 8 , 7 0 3 , 0 0 0 7 0 0 , 0 0 0 2 , 2 2 0 , 0 0 0 6 l 5 * O C C 6 1 5 , 0 0 0 4 7 5 * 0 0 0 3 1 0 , 0 0 0 1 , 7 8 0 , 0 0 0 3 5 0 , 0 0 0 2 1 4 , 0 0 0 2 7 5 . 0 0 0 1 5 5 * 0 0 0 7 9 4 * 0 0 0 Eligible paper 35 6 , 5 2 7 1 , 4 0 5 2 , 3 4 0 91+2 — — — — 1 0 0 1 , 6 2 5 Total collateral 8,709,527 701,485 2,222,340 615,942 815,000 475*000 310*000 1,780,000 350,035 2i4*icc 276,625 155,00c 794,coo Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis