H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283-d STATi&DENT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb. 20: of the Federal Reserve System not earlier. February 19, 19U2 CONDITION OF THE FEDERAL RESERVE BAFKS During the -week ended February 18 member bank reserve balances increased $153,0o0,000. Additions to member bank reserves arose from decreases of $55,000,000 in Treasury deposits with federal R;seive Banics, $13,0o0,000 in Treasury cash and $59*000,000 in n^nmember deposits and other Federal Reserve accounts and an increase of $73*000,000 in Reserve Bank credit, offset in part by an increase of $20,000,000 in money in circulation and a decrease of $29,0o0,000 in gold stock. Excess reserves of member banks on February 18 were estimated to be approximately $3,4^0,000,000, an increase of $100,000,000 for the week. The principal change in holdings of bills ana securities was an increase of $7,000,000 in United States Government bonds. Changes in member bank reserve balances and related items during the week and the year ended February 18, 1942, were as follows: Increase or decrease since f : W ?, Feb. 11, Feb. 19, 19^2 19l|l (In millions of dollars) 3ills discounted 3 + 1 U. S. Government direct obligations 2,246 + 67 J. S. Government guaranteed obligations 4 1 Industrial advances (not including 15 million commitments - February 18) 9 1 Other Reserve Bank credit 1^2 + 65 101 Total Reserve Bank credit 2,404 + 73 + 169 Gold stock 22,712 - 29 + 572 Treasury currency 3,264 +1 + 162 member bank reserve balances 13,053 +153 " 9^3 Mono/ in circulation 11,339 + 20 +2,651 Treasury cash 2,181 - 13 4l Treasury deposits with F.K. Banks 264 - 55 - 215 Xoniaember deposits and other F. R. accounts 1,539 -.59 - 528 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d Released for publication Friday morning, February 20, 1942$ not earlier* STATEMEIIT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars; Increase or decrease since Feb. 18, Feb. 11, Feb. 19, 191*2 191*2 191*1 S S T S Gold certificates on hand and due from U. S. Treasury 20,503,515 - 26,003 600,737 Redemption fund - F. R. notes 13,019 + 2g2 + 3,857 Other cash 352,1*19 + 10,099 + 12,978 Total reserves 20,368,953 - 15,622 617,572 Biils discounted: Secured by U. S. Gov't obligations, direct and guaranteed 2,1*32 + 55 + 787 Other bills discounted 712 3 + 89 TptaL bills discounted 3,11*1*' + 52 + 876 industrial advances U. S. Government securities, 8,553 321* + 099 direct and guaranteed: bonds 1,557,560 + 7,1*05 + 278,960 Notes 692,500 — - 207,000 Total U. S. Government securities, ~"3:.rect and guaranteed 2,250,060 + 7,1*05 + 65,960 Total biils and securities 2,261,757 + 7,133 + 67,535 bu 3 from foreign banks 1*7 — — F. R. notes of other banks 25,717 - 2,203 + 2,328 Uncollected items 1,170,713 +232,269 + 332,711* Bank premises 40,71? + l + 720 'Other assets U8,629 + 373 - 3,1*69 T O T AL A SS £ I S 21*, 1*16,735 +221,951 +1,017,400 L I A B I L I T I ES F. R. notes in actual circulation 8,1*36,100 + 15,936 +2,495*020 Deposits: Member bank - reserve account 13,057,722 +152,1*1*3 - 962,81*7 U.S.Treasurer-General account 2o3,522 - 51*,991* - 215,871 Foieign 626,097 - 5l*,ui*7 - 503,963 Other deposits 625,385 - 3,1*38 - 29,91*7 Total deposits 12*, 572,726 + 39,361* -1,712,648 Deferred availability items 1,028,672 +167,01*7 + 231,636 Other liabilities including accrued dividends ,3,062 339 _ 20 TOTAL LIABILITIES 2l*,0l*2,5o0 +222,008 +1,013,988 Capital paid in 1u3,056 + lo + 3,506 Surplus (Section 7) 157,502 — + 1*37 Surplus (Suction 13b) 26,781 -- - 1* Other capital accounts 1*6,816 73 - 527 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21*,l*l6,735 +221,951 +1,017,1*0.0 Ratio of total reserves to deposit and F. R. note liabilities combined _ 9u.75* - .3/" Commitments to make industrial advances 11*,907 + 297 + 9,862 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 FEBRUARY 18, 191+2 (In thousands of dollars) A S S E TS Total Boston rJew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Liinn. :l ans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 20,503,515 1,206,051 8,132,032 1,150,81*7 1,639,936 79l*,77l* 55U.881 3,1+78,785 626,181 365,012 51+5,1+77 379,99o 1,629,51+5 Redemption fund - ^'.k.nctes 13,019 3,786 l,o70 395 1+99 1,258 063 1,611+ 523 338 651 1+91+ 1 .128 Other cash 352,1419 37.11*0 68,1*06 27,939 28,01+9 20,768 23,1+56 58,071+ 21,008 6,1*26 15,155 12,716 33,282 Total, reserves 20,068,953 1,21^6,977 8,202,108 1,179,131 1,668^81* 816,800 579,000 3,538,173 61*7,712 371,776 5ol,283 393,206 1.OO3,953 Bills discounted: Secured by U. S Gov't obligations, # direct and guaranteed 2,1*32 312 1,199 631 125 — -- — 25 1+5 1+5 50 Other bills discounted 712 — 30 97 82 — — — — 58 357 88 — Total bills discounted 3,11*1* 312 1,229 728 207 — — — 83 1+02 133 50 Indus trial advanc c s 8,553 1,193 1,097 3,1+12 279 757 501 37 0 6 1+83 81+ 21+6 120 U* S. Government securities, direct and guaranteed: Bonds 1,557,560 HI*, 605 1*29,972 122,996 151*, 050 93,113 66,253 189,502 73,573 1+7,029 71,218 60,092 13!+, 557 Notes 692,500 50,955 191,168 51*,686 68,1*91 1+1,398 29,1+56 dh,25h 32,7H 20,910 31,663 26,983 59,825 Total U.^. Gov't securities, direct and guaranteed 2,250,060 165,560 621,11*0 177,682 222,51+1 131+,5H 95,7P9 273,756 106,281* 67,939 102,881 87,075 l9l+,382 Total bills and securities 2,261,757 167,070 623,1+66 181,822 223,027 135,268 96,210 27l+,126 106,290 68,505 103,367 83,051; 1914,552 una from foreign banics i*7 3 18 5 1* 2 2 - 6 1 .* 11 1* F. K. notes of other banks 25,717 725 2,978 1,1*35 1,779 3,1+21+ 3,217 2,779 2,602 092 1,513 &52 3»?21 Uncollected items 1,170,713 108,1+51+ 266,313 83,1*20 11*7,807 89,573 1*1,890 190,998 1*9,030 2l*,89l* 55,786 1*3,206 69,31+2 Bank premises 1*0,719 2,773 10,1*89 1*,855 l+,l+30 3>Ol6 1,9^5 2,965 2,150 1,336 2,067 1,133 2,7o0 Other assets . 1*8,829 3,383 13,315 3,800 5,282 3,086 2,010 5,61*9 2,ll*i* 1,1*77 ^,156 1,909 ij.,6ld T O T AL A S S E TS 21*, 1+16,735 1,529,385 9,118,687 l,k5l+,518 2,050,813 1,051,169 721*, 27I* 1*,Oil*,996 809,929 1*68,680 726,973 528,30I 1,938,950 •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. It. 283-0 STATEMENT OF CONDITIO!' OF THE FEDERAL RESERVE BANKS ON FEBRUARY 18, 1942 (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Clove. Rich. Atlanta jr. •R• notws in actual circulation ' 3,1*38,100 693,250 2,11+9,1+18 595,536 80l+,512 433.997 289,118 Deposits: komber bank-reserve acct.13,057*722 61*2,668 5,825,21*6 61*1+, 720 978,917 467,284 336,656 U.S.Treasurer-General acct. 263,522 20,737 66,800 21,509 23,587 15,677 19,120 15,187 lli, 709 14,568 16,532 10,71+7 24,349 Foreign 626,097 2i*,863 21*5,286 59,1+17 56,942 27,233 21,662 75,510 13,568 13,616 17,949 17,91+9 1+7,102 Other deposits 625,385 21,61*2 1*83,81*1 18,075 22,571 3,586 2,865 4,676 10,938 11,01*9 7,623 2,u57 36,1+62 Total deposits ll+,572,726 709,910 6,621,173 71+3,721 1,082,017 513,780 380,303 2,029,5o8 416,371 222,61*1* 398,073 338,62o 1,111*,51*0 Deferred availability items 1,028,672 100,103 218,635 50,656 129,295 86,895 1+0,938 156,830 1+7,377 20,800 l+l+,oll 1*0,ool* 61,368 Gtiier liabilities including accrued dividends 3,032 I+69 608 215 337 317 196 371+ 80 110 106 11+8 122 TOTAL LIABILITIES 2l*,0l+2,580 1,503,732 8,989,83!* 1,1*20,128 2,0io,loi 1,034,989 710,555 3,9^6,521 798,-71+ 1+53,976 715,590 510,829 1,911,191 £ A P £ £ A L A C C O U N TS Capital paid in li+3,056 9,1+05 52,223 11,31*0 14,754 5,7i+5 l+,923 ' 15,71+1+ i+,1+53 3,038 l+,63i* 4,1*01* 11,808 Surplus (action 7) 157,502 10,949 56,651 15,171 14,31+6 5,236 5,725 22,925 4,966 3,152 3,613 3,976 10,792 Surplus (Section 13b) 26,781 2,37l+ 7,0J0 l+,393 1,007 3,21*1+ 713 1,1+29 ?30 1,000 1,137 1,263 2,121 other capital accounts 1*6,816 2,1+25 12,909 2,986 l*,5l+5 1,955 2,353 8,377 1,906 2,511+ 1,99^ 1,389 2,958 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21+,1+16,735 1,529,385 9,118,687 l,l+5l+,518 2,050,813 1,051,169 72l+,27l+ l+,0ll*,996 809,929 1+68,680 726,973 528,361 1,938,950 Commitments to make industrial advances 14,987 132 365 2,91+1+ 1,069 1,1*55 1,61*1* 1,931+ 1,130 23 1,500 2,791 MATURITY DISTRIBUTION OF BILLS AND S^XURITIES ,'iithin 16 to 31 6l to 91 days to 6 months 1 Year 2 Years to Ovur Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 3,11+1+ 2,526 52 270 ll+O 132 21+ Industrial advances 8,553 2,399 343 178 205 1,556 962 1,573 1,337 U. S. Government securities, direct ar.d guaranteed 2,250,OoO 97,ooo 21*7,200 1*77,000 1,1*28,860 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL PESERVE NOTE STATEMENT OK FEBRUARY 18, 1^2 (In thousands ^f dollars) Total Boston liew York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. ivans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R. Bonk by F.R.Agent 8,860,234 723,820 2,260,518 618,757 836,544 471,859 308,992 1,820,231 348,011; 221,218 281,582 151,054 817,o45 Held by Federal Reserve Bunk 422,134 30,570 111,100 23,221 32,032 37,862 19,874 40,432 16,268 5,796 8,782 13,663 82,1^84 In actual circulation 8,438,100 693,250 2,i49,4l8 595,536 304,512 433,997 289,118 1,779^749 331,746 215,422 272,600 137,391 735>lol Collateral held by ^.gent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 8,992,000 740,000 2,280/000 640,000 840,000 485,000 315,0JJ 1,840,U00 360,000 222,000 r_J85,000 156,000 8^9,000 Eligible paper 2,c£2 312 1,229 078 ~ — — — — 83 390 Total collateral 8,994,092 740,312 2,281,229 o4o,678 840,000 485,000 315,'JOO 1,040,000 360,000 222, J83 235,390 156,000 622,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis