H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 263 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb, 27; of the Federal Reserve System not earlier. February 26, 1942 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 25 member bank reserve balances decreased $337,,000• Reductions in member bank reserves arose from increases of $5311,000,000 in Treasury deposits with Federal Reserve Banks, $63,000,000 in money in circulation and $8,000,000 in Treasury cash, and a decrease of $12,000,000 in Reserve Bank credit, offset in part by increases of $3,000,OuO in gold stock and $2,000,000 in Treasury currency and a decrease of £97,000,000 in nonraember deposits and other Federal Reserve accounts. Excess reserves of member banks on February 25 were estimated to be approximately $2,oOO,000,000, a decrease of $p00,000,000 for the week. Tho principal change in holdings of bills and securities was an increase of $12,000,000 in United States Government bonds. Changes in member bank reserve balances and related items during the week and the year ended February 25, 19^2, were as follows* Increase or decrease since Fv^b. 25, Feb. 16, Feb. 26, 19I& 19U2 191+1 (In millions of dollars) Bills discounted I4. + 1 +1 U. S. Government diroct obligations 2,256 +12 + 79 U.S. Government guaranteed obligations J4 — 1 Industrial advances(not including 15 million commitments - February 25) 6 -1 Other Reserve Bank credit 117 - 25 + 69 Total Reserve Bank credit 2,392 - 12 + 169 Gold stock 22,715 + 3 + 536 Treasury currency 3,266 + 2 + I05 Member bank reserve balancos 12,521 -537 -l ,654 Money in circulation 11,422 + 63 +2, 697 Treasury cash 2,169 + 0 - 15 Treasury deposits with F.R. BanKS 79 a +534 + 430 Nonmember deposits and other F. R. accounts 1,442 - 97 - 591 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

-Form. F. R. 283-a Released for publication Friday morning, February 27, 191+2; not earlier. STATEMENT OF CONDITION OF THE TWELV E FEDERAL RiE SERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb, 25, Feb. 18, Feb. 26, 191+2 1942 191+1 A S S E TS Gold certificates on hand and due from U. S. Treasury 20,502,517 998 + 51+1,236 Redemption fund - F. R. notes 13,139 + 120 + 3,895 Other cash 333,301 - 19,116 - 1+,1+aO Total reserves 20,61+8,957 - 19,996 51+0,651 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 3,311 + 879 + 1,219 Other bills discounted 570 ll+2 - 55 Total bills discounted 3,881 + 737 + 1,161+ Industrial advances 8,1+99 51+ + 059 U.S. Government securities, direct and guaranteed; Bonds 1,569,986 + 12,1+26 285,336 No te s , 692,500 207,000 - Total U. S. Government securities, direct and guaranteed 2,262,1+86 + 12,1426 + 78,366 Total bills and securities 2,27l+, 806 + 13,109 + 80,209 Due from foreign banks hi • • -- F'. R. notes of other banks 26,886 + 1,169 + 6,2ll4 Uncollected items 1,171,571 + 653 + 312,223 Bank premises 40,734 + 15 + 782 Other assets 1+ ;,59e> + 769 - 3,602 T O T AL A S S E TS 21+,1+12,659 - 1|,076 936,1+77 L I A B I L I T I ES F. R. notes in actual circulation 8,505,938 + 67,830 + 2 , I 03 Deposits j i'.;ember bank - reserve account 12,521,173 -536,^9 -l ,053,551 U.S. Treasurer - General account 796,1+29 + 1+30,51+2 Foreign 61+9,387 + 23,790 - l+82,l5o Other deposits 50l+,3l+2 - H5,oi+l+ Total deposits 11+, 1,73,031 - 90,095 -1 ,020,209 Deferred availability items l,05l+, 086 + 26,010 + 223,651 other liabilities including accrued dividends 3,739 + 657 178 TOTAL LIABILITIES 214,038,196 - h,3ob + 932,783 C A P I T AL A C C O U N TS Capital paid in 11+3,085 + 29 + 3,1+99 Surplus (Section 7) 157,502 — + 1+37 Surplus (Section 13b) 26,731 — - 1+ Other capital accounts 1+7,095 + 279 - 238 ToTAL LIABILITIES AND CAPITAL ACCOUNTS 21+,U2,659 - 1I,076 + 936,1+77 Ratio of total reserves to deposit u.nd i<. R. note liabilities combined 90.1% — - Commitments to make industrial advances ll+,92l 66 + 9,655 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283«b STATEMENT OF CONDITION OF THE FSDEE AL RESERVE BANKS ON FEBRUARY 25, 191*2 (In thousands of dollars) A S S E TS Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hcjad, and due from U.S. Treasury 20,502,317 1 ,190,539 8,01*0,01*6 1, 155,739 l,o53,828 809,023 580,336 3,500,365 631*,822 368,996 51*1*,678 399,771 1,621*, 32I* Redemption fund - F.R.notes 13,139 3,71*2 1,1*87 336 1*1*0 1,382 637 1,51*7 508 331 637 1*85 1,107 Other cash 333,301 28,181* 65,11*5 27,81*7 28,781* 18,231 20,806 53,811* 20,008 6,1*12 15,381 11,856 31,723 Total reserves 20,848,957 1,222,465 8-,106,o78 1 ,183,972 1,683,052 829,186 601,839 3,560,726 655,338 375,739 5oO,69O 1*12,112 l,o57,l5l* Bills discounted: Secured by U. S* Gov't obligations, direct and guaranteed 3,311 337 1,508 82? 119 200 75 — — 50 11**55 70 8800 Other bills discounted 570 — 25 97 80 — — - — — — 36 21*5 87 'Total bills discounted 3,881 337 1,533 921* 1-99 200 75 — — 86 290 157 80 Industrial advances 8,1*99 1,097 1,097 3,1*91 215 757 510 366 5 518 81* 239 120 U. S. Government securitie s, direct and guaranteed- Bonds 1,569,986 115,515 1*33,522 121*, 012 155,286 93,795 66,778 190,931* 71*, 11*6 1*7,1*09 71,809 61,171 135,609 Notes 692,500 50,951 191,220 51*, 700 68,1*95 1*1,372 29,1*55 81*, 218 32,705 20,912 31,675 26,981 59,816 Total U. S* Gov't securities, direct and guaranteed 2,262,1*86 106,1*66 621*, 71*2 178,712 223,781 135,167 96,233 275,152 106,851 68,321 103,1*81* 88,152 195,1*25 Total bills and securities 2,271*, 866 167,900 627,372 183,127 221*, 195 136,121* 96,813 275,518 106,856 68,925 103,858 88,51*8 195,625 Duo from foreign banks 1*7 3 18 5 1* 2 2 6 1 * 1 1 1* F. R. notes of other bank: s 26,886 601 l*,23l* 916 0 ! 1 2,831 3,602 2,91*9 O LI ^ 1 651* 1,1*60 901 3,805 Uncollected items 1,171,571 111,819 277,77o 71,589 11*9,922 92,220 1*7,1*1*9 178,91*5 1*8,106 26,1*91 51,538 1*3,1+55 72,261 Bank premises 1*0,731* 2,773 10,1*89 1*,856 1**1*20 3,ol*l* l,9l*i 2,965 2,150 1,336 2,867 1,133 2,760 oth.,r ussets 1*9,593 3,U39 13,726 3,372 5,326 3,157 2,ol*3 5,679 2,175 1,502 2,156 1,912 l*,oll T O T AL A S S E TS 21* ,1*12,659 1,509,000 9,01*0,293 1,1*1*8,337 2,009,331 1,006,561* 753,691* L+,*026,783 817,11*7 1*71*,61*7 722,576 31*8,062 1,936,220 *Less than *500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 25, 191+2 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. F. R. notes in actual circulation 8,505,938 696,309 2,170,213 602,011+ 812,252 1+1+0,01+1+ 289,11+1+ 1,789,751+ 332,597 215,901+ 273,959 139,081; 7l+l+,ooU Deposits: Member bank-reserve account 12,521^.73 577,06k 5,611,850 587,537 93i+,000 1+1+2,1431 339,151+ 1,880,901 365,551 171,172 337,91+2 295,001 977,970 [J.S.Treasurer-General acct. 798,429 72,789 251,305 81,597 59,71+1+ i+7,085 141,801 55,782 30,893 30,021. 32,832 39,1+81+ 53,893 Foreign 614.9,887 25,913 258,713 60,972 58,1+32 27,91+5 22,229 77,1+85 19,051+ 13,973 18,1+19 18,1+19 1+8,333 Other deposits 50l+,3l+2 17,21+1 388,167 15,895 26,158 2,815 14,263 2,ok7 9,1+35 10,029 1,1+60 1,321 214,1411 Total deposits 14,1+73,831 693,007 6,510,035 71+6,001 1,073,331+ 520,876 1+07,1+1+7 2,016,815 l+2l+,933 225,798 390,653 355,325 l,lol+,6o7 Deferred availability items l,05l|,683 93,1+35 230,230 65,6214 11+3,701 89,110 1+3,156 171,258 1+7,61+1+ 23,031+ 146,1421 1+1,938 59,08? Other liabilities including accrued dividends 3,739 571 810 290 351+ 31+5 216 1+71 112 131 120 175 11+1+ TOTAL LIABILITIES 214,038,196 1,1483,322 8,911,338 1,1+13,929 2,03l4,ol+l 1,050,375 739,963 3,978,293 305,236 1+614,927 711,153 536,522 1,908,1+1+2 £ A £ 11 £h £ £ £ £ £ £ !£ Capital paid in 11+3,085 9,1+01 52,229 11,837 ll+,7o2 5,71+6 4,930 15,751+ l+,l+53 3,039 1+,61+1+ 143,12+ 02 11,888 Surplus (Section 7) 157,502 10,91+9 50,051 15,171 ll+,3l+6 5,236 5,725 -'2,925 1,966 3,152 3,613 3,976 10,792 Surplus (Section 13b) 26,781 2>,, 874 7,070 14,393 1,007 3,21+1+ 713 1,1+29 530 1,000 1,137 1,263 2,121 Other capital accounts 1+7,095 -,1+51+ 13,005 3,007 4,575 1,963 2,363 8,382 1,912 y,529 2,029 1,899 2,977 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,412,659 1,509,000 9,040,293 1,14148,337 2,069,331 1,066,5614 753,6914 4,026,788 817,1147 1+74,647 722,576 51+8,062 1,936,220 Commitments to make industrial advances 1^,921 130 1+35 2,854 1,039 1,1+55 1,61+1+ l,93t 1,120 23 1,500 — 2,787 MATURITY DISTRIBUTION OF BILLS AMD SECURITIES Within 16 to 31 to 6l 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 Bills discounted 3,881 3,1+06 30~ 211 81+ 112 38 Industrial advances 8,1+99 2,225 318 361 256 1,1431 979 1,595 1,331+ U. S, Government securities, direct and guaranteed 2,262,1+86 97,000 21+7,200 1+77,000 1,441,286 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON FEBRUARY 25, 19k2 (In thousands of dollars) Total Boston New York Phila. Cl^ve. Rich. Atlanta Chicago St.Louis Linn. Xans.Oy. Dallas San Fran. Federal Reserve notes: Issued to F.R. Bank by F.R.Agent 8,866,489 716,364 2,266,338 626,960 844,376 474,849 316,000 1,6^,313 U05 221,227 232,902 134,318 612,299 Held by Federal Reserve BariK 380,331 20,055 96,125 24,946 32,124 34,805 20,856 32,559 1^086 5,263 9,003 15,234 67,695 In actual circulation 6,305,938 696009 2,170,213 6o2,0l4 612,252 440,044 269,144 1,789,754 332,397 215,954 273,959 139,084 744,604 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S.Treasury 9,044,000 740,000 2,280,030 640,000 845,000 503,000 325,300 1,860,000 360,000 222,030 285,000 138,000 829,000 Eligible paper " 3,309 337 1,534 874 — 200 ~ « — 86 278 Total collateral 9,047,309 740,337 2,281,534 640,874 845,000 500,200 325,000 L,oo0,00o 36-J,JOJ 222,036 285,273 136,000 329,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis