H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 2d3 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Jan. 23; of the Feaeral Reserve System not earlier. January 22, 191+2 CONDITION OF THE FEDERAL RiloERVE BANKS During the week ended January 21 member bank reserve balances increased ^153,000,000* Additions to member bank reserves a rose from decreases of ^135,000,000 in Treasury deposits with Federal Reserve danks, §20,000,000 in Treasury cash and 08,000,000 in nonmembor deposits and other Federal Reserve accounts and from increases of .->10,000,000 in gold stock arid v3,000,000 in Treasury currency, offset in part by an increase of ^15,000,000 in money in circulation and a decrease of 7,000,000 in Reserve Bank credit. Excess reserves of member banks v on January 21 were estimated to be approximately ,^3,380,000,000, an increase of <20,000,000 for the week. The principal changes in holdings of bills and securities were an increase of v83,0o0,o00 in United States Government bonds and decreases of 085,000,000 in Treasury notes and ^4,000,000 in Treasury bills. Changes in member Dank reserve balances and related items during the week and the year ended January 21, 19)42, were as follows: Increase or decrease since Jan, £1, Jan* I4, J ou . 22, 19U2 19i|2 I94I (In millions of dollars) Bills discounted 3 1 1 U. S. Government direct obligations 2,2I46 3 o7 U. S. Government guaranteed obligations 14. l 1 Industrial advances (not including llj. million commitments - January 21) 9 1 4 1 0thur Reserve Bank credit 121 2 4 oO Total Reserve Bank credit 2,333 - 7 4 127 Gold stock 22,750 + 10 4 ool Treasury currency 3,255 + 3 4 160 member baruc reserve balances 13,145 +153 -1,265 money in cixculation 11,077 + 15 +2,536 Treasury c^sh 2,204 - 20 4 'e Treasury deposits with F. R, Banks 28i| -135 4 23 T-onmJinbor deposits and othur F. R. accounts 1,678 - 8 - 355 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F*R. 283-a Released for publication Friday morning, January 23,19*42; oa rlier. STATEMENT OF CONDITION OF THE TlffiLVE FEDER.iL RESERVE BANKS C GLIB I NED (In thousands of dollars) Increase or de<c rease since J all. , Jun. 14, Jan» 22, 1942 1942 19U1 A S S E TS Gold certificates on hand and due from U. S. Treasury 20,523,015 + 35,000 4 61+3,237 Redemption fund - F. R. notes 13,437 • 1 + 3,011 Other cash 353,083 + 15,430 - 10,318 Total reserves 20,889,535 + 50,431 636,530 Bills discounted: Secured by U. S. Govft obligations, uirect and guaranteed 2,234 234 - 2266 Other bills discounted 969 95 - 320 Total bills discounted 3,203 379 - 3hS Industrial advances 9,421 91 1,921 U« S. Government securities, direct and guaranteed: Bonds 1,551,605 + 84,800 * 267,005 Notes 092,500 - 84,600 - 207,000 Bills 0,000 - 4,370 6,000 Total U. S. Government securities, direct and guaranteed 2,250,105 - 4,370 * 66,005 Total bills and securities 2,262,729 - 4,84o 67,580 Due from foreign banks 47 — — F. R.notes of other banks 34,036 - 3,181 4,634 Uncollected items 1,127,961 - 82,179 288,024 Bank premises 40,785 7 * 723 Other assets 45,133 306 - 4,350 T OT A L ii.SSn.TS 24,400,246 - 14.0,082 993,141 L I A B I L I T I ES F. R. notes in actual circulation 8,198,916 4 28,332 +2, 36!+, 1+10 Deposits? member bank - reserve account 13,I45,4o8 •153,886 -1, 264,092 U f S.Treasurer - General account 284,180 -!3U,l429 23,168 Foreign 729,779 - 25,037 - 500,911 Other deposits 056,951 * 16,795 4 137,376 Total deposits 14,816,378 • 11,215 -1,6014-, 459 Deferred availability items 1,007,506 - 79,880 4 228,383 Other liabilities including accrued dividends 3,323 II4I+ * 895 TOTAL LIABILITIES 24,026,123 - 1+0,195 989,229 C A P I T AL a C C 0 U N TS Capital paid in 142,872 • 92 * 3,521 Surplus (Section 7) 157,502 — 437 Surplus (Section 13b) 26,760 — - 5 Other capital accounts 46,969 4 21 - 41 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,400,246 - 14.0,082 993,141 Ratio of total reserves to deposit and P. R. note liabilities combined 90.7% — - Cormatments to make industrial advances 14,277 150 9,182 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATELIEST OF CONDITION OF THE FEDERAL RESERVE BAMS ON JANUARY 21, 1942 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Kich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 20,523,015 1, 209,535 8,233,828 1,177,280 1,626,965 784,729 530,747 3,430,421 622,307 367,540 546,159 393,578 1, ..559999,,992266 Redemption fund - F.R.notes 13,437 4,039 1,625 735 792 1,395 385 962 009 387 727 543 1,238 Other cash 353,083 32,201 65,850 26,825 28,688 20,688 27,302 56,554 23,250 6,387 15,250 15,560 34,528 Total reserves 20,889,535 1,245,775 8,.301,303 1,204,81+0 1,656,1445 806,812 558,434 3,487,937 646,166 374,314 562,136 409,681 1, 635,692 Bills discounted: Secured by U» S. Gov't obligations, direct and guaranteed 2,234 250 795 787 150 20 12 — 6600 105 15 40 Other bills discounted 969 -- 15 70 101 -- -- — 58 637 88 — - Total bills discounted 3,203 250 810 857 251 20 12 — 118 742 103 4o Industrial advances 9,421 1,371 1,098 3,557 281 762 498 301 100 499 86 246 122 U. S. Government securities, direct and guaranteed: Bonds 1,551,605 114,167 428,328 122,526 153,461 92,757 65,999 188,778 73,292 4466,,884499 7700,,994455 6600,,446600 134,043 Notes 692,500 50,954 191,168 54,686 68,491 41,398 29,457 84,253 32,711 20,910 31,o64 26,933 59,825 Bills 6,000 1,656 474 594 359 255 730 283 181 274 234 518 Total U. S. Gov't securities, direct and guaranteed 2,250,105 1-5,563 621,152 177,086 222,546 134,514 95,7H 273,761 106,286 67,940 102,883 87,677 194,386 Total bills and securities 2,262,729 167,684 623,060 182,100 223,078 135,296 96,221 274,062 106,366 68,557 103,711 88,026 194,543 Duo from foreign banks 47 3 18 5 4 2 2 6 1 * l 1 4 F. R. notes of other banks 314,036 815 2,979 1,134 1,944 11,275 3,037 2,787 2,632 415 1,926 1,086 3,956 Uncollected Items 1,127,981 107,423 253,549 74,243 133,597 100,191 53,134 163,303 55,839 25,771 42,489 49,66o 68,-732 B^nk premises 14.0,785 2,778 10,507 4,866 4,429 3,013 1,948 2,971 2,154 1,336 2,874 l,l4l 2,766 Other assets 45*133 3,143 12,267 3,541 4,896 2,868 1,848 5,203 2,019 1,379 1,997 1,724 4,243 T O T AL a s s e ts 24,400,246 1,527,621 9,203,683 1,470,779 2,024,393 1,059,457 714,624 3,936,269 815,197 471,774 715,134 551,319 1,909,996 *Less than ^ 500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATELIEST OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 31, 1941 (In thousands of dollars) L I A B I L I T I ES Total 3oston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Uinn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 8,198,916 666,778 2,lol+,9l+o 57l+,811 781,91+8 +2l+, 7I+3 276,088 1,730,693 322,576 209,712 265,1+39 133,571 707,617 Deposits: Itlember bank-reserve acct. 13,11+5,1+68 675,775 5,938.356 668,14+2 975,973 1+60,91+1 329,812 1,880,251 37k,595 185,650 357,067 309,707 988,899 U.S.Treasurer-General acct. 28l+,180 16,837 31,308 26,760 2l+,l+85 22,035 18,867 32,165 17,151 20,305 20,181 23,91; 30,191 Foreign 729>779 28,181 295,181+ 67,81+5 65,018 31,095 2l+, 735 86,219 21,201 15,5U8 20,1+95 20,1+95 53,763 Other deposits 656,951 19.797 50l+,733 25,091 17,71*2 5,852 3,559 3,909 15,591 11,095 2,571 2,826 1+1+,185 Total deposits li+,816,378 71+0,590 6,769,581 788,138 1,083,218 519,923 376,973 2,002,51+1+ 1+28,518 232,598 1+00,311+ 356,943 1,117,033 Deferred availability items 1,007,506 93,231+ 199,91U 73,217 12i+,325 98,320 1+7,701+ 15i+, 257 52,171+ 19,606 37,923 1+9,190 57,562 Other liabilities including accrued dividends 3,323 1,3U9 1+36 166 251+ 281+ li+9 30l+ 1+1+ 97 78 108 51+ TOTAL LIABILITIES • 2l+,026,123 1,501,951 9,Q7k,oH 1,1+36,332 1,989,71+5 1,01+3,270 700,911+ 3,887,798 803,312 1+62,093 703,751+ 539,812 1,882,271 Capital paid in il+2,872 9,1+0.1+ 52,198 11,882 ll+,753 5,738 l+,909 15,708 1+, 1+1+5 3,017 l+,6l6 l+,375 11,827 Surplus (Section 7) 157,502 10,91+9 50,051 15,171 ll+,3l+ . > 0 5,236 5,725 22,925 l+,966 3,152 3,613 3,97o 10,792 ourplus (Section 13b) 26,780 2,671+ 7,070 l+,393 1,007 3,21+1+ 713 1,1429 529 1,000 1,137 1,263 2,121 Other capital accounts 1+6,969 2,1+1+3 12,893 3,001 l+,5l+2 1,^69 2,363 8,1+09 1,91+5 2,512 2, jll+ 1,893 2,985 TOTAL LIABILITIES AND CAPITAL accounts 2l+,l+oo,2l+6 1,527,621 9,203,663 1,1+70,779 2,021+,393 1,059,1+57 711+,62l+ 3,936,269 815,197 1+71,771+ 715,13I+ 551,319 1,909,996 Commitments to make industrial advances ll+,277 137 39l+ 2,838 l,07l+ 860 1,700 l,87l+ l,ll+0 25 1,500 — 2,735 IvaTURITY DISTRIBUTION OF BILLS Al,rD SECURITIES /,ithin 16 to 31 to 61 to 91 days to o months 1 io ar 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 uiscounted 3,203 2,310 37 67 1+62 271 56 Industrial advances 9,1+21 3,166 321 215 182 1,250 1,347 1,576 1,361+ U. S.Government securities, dircdt and guaranteed 2,250,105 6,000 97,000 247,200 l+77,ooo 1,1+22,905 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R* 283-d FEDERAL RESERVE NOTE STATEMENT ON JANUARY 21, 19142 (In thousands of dollars) Total Boston Now York Hiila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.Agent 8,647*111 701,66k 2,222,789 602,1^2 ol2,a97 463,00/4. 301,597 1,775,574 341,833 215,463 276,585 149,478 784,285 held by Federal Reserve Bank 34,886 117,849 27,331 30,749 38,26l 25,509 144,861 19,257 5,751 11,146 15,907 76,068 In actual circulation 8,198,916 666,778 2,104,940 574,811 781,948 424,743 276,088 1,730,693 322,576 2^9,712 265,439 133*571 707,617 Collateral held by agent as security for riot^s issued to bank: Gold certificates on hand and aue from U. S.Treasury 8,790,500 720,000 2,240,000 615,000 815,000 475,000 310,000 1,800,000 360,000 217,000 280,000 154,500 004,000 Eligible paper 2,696 250 810 767 — — — — — 118 731 Total collateral Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis