H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283-d STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, May 8j of the Federal Reserve System not earlier. May 7, 19U2 CONDITION OF THE FEDERAL RESERVE BnNKS During the week ended May 6 member bank reserve balances decreased $218,000,000. Reductions in member bank reserves arose from increases of $122,000,000 in money in circulation, $248,000,000 in Treasury deposits with Federal Reserve Banks, and $7,000,000 in Treasury cash, offset in part by increases of $129,000,000 in Reserve Bank credit, $14,000,000 in gold stock, and $5,000,000 in Treasury currency, and a decrease of $10,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on May 6 were estimated to be approximately $2,6^0,000,000, a decrease of $130,000,000 for the week. The principal changes in holdings of bills and securities were the addition of $21,000,000 of United States Treasury certificates, and increases of $38,000,000 in bonds and $27,000,000 in bills. Changes in member bank reserve balances and related items during the week and the year ended*May 6, 1942, were as followst Increase or decrease since May 6, ^pril 29, May .7, 19u2 19u2 19lll (In millions of dollars) Bills discounted 8 • 1 +7 U, S. Government direct obligations 2,432 +86. t 253 U. S, Government guaranteed obligations 4 -- 1 Industrial advances (not including 12 million commitments - May 6) 10 — + 2 Other Reserve Bank credit 118 + 42 • 83 Total Reserve Bank credit 2,572 +129 + 343 Gold stock 22,703 + 14 + 178 Treasury currency 3,291 + 5 + 166 Member bcjik reserve balances 12,444 -218 - 996 Money in circulation 11,845 •122 +2,694 Treasury cash £,193 + 7 - 99 Treasury deposits with F. R. Banks 376 +248 • 42S Nonmexriber deposits and other F. R. accounts 1,708 - 10 - 485 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 CM MAY 6, 191*2 (In thousands of dollars) L I A B I L I T I ES Total BBoossttoonn NNeeww YYoorrkk PPhhiillaa.. CClleevvee.. RRiicchh.. AAttllaannttaa CChhiiccaaggoo SStt.»LLoouuiiss MMiinnnn.. KKaannss^^CCyy.. DDaallllaass San Fran. F.R.notps in actual circulation 8,876,906 708,721* 2,250,81*6 62k,91+6 81*5,558 1*70,037 333,772 1,838,827 3l*7,761 225,131 288,181 ll£,993 79li,I30 Deposits * Member bank-reserve acct. 12,1*1*3,881* 599,625 5,311,61*3 668,801 920,097 1*60,116 336,986 1,912,638 363,390 202,268 399,931 310,992 957,397 U.S.Treasurer-general acct. 375,970 2^,552 11*2,320 35,003 12,806 11*, 1*76 11,1*80 53,71*5 12,833 15,501 17.-370 20.91*8 11*5936 Foreign " 955,031 26,1*71* 1*99,1*11* 71,638 68,653 32,851* 26,118 91,01*0 22,387 16,1*17 21,61*1 21,61*1 56,771* Other 1*58,097 17,1*1*2 320,31*9 17,111* 21*, 639 11,380 3,867 3,007 10,882 8,1*73 8,900 23,195 3,81*9 Total deposits ll*,232,982 668,093 6,273,726" 792,556 1,026,195 "518,806 370,U51 2,060,1*30 1*09,492 21^,659 M*7>0i*^ J7IJIW 1,057,302 Deferred availability items 897,101* 81*,81*5 199,170 73,870 106,711 79,81*2 1*0,735 131,520 kh,71*1 21,119 38,331 30,900 1*5,320 Other liabilities including accrued dividends 1*,992 559 1,31*2 371* 1*92 396 21# 531 197 168 191* I90 300 TOTAL LIABILITIES 21*,oil,981* 1,1*62,221 8.,725,081* 1,1*91,71*6 1,978,956 1,069,081 753,207 1*,031,308 802,191 1*89,077 771*,51*8 537,513 1,897,052 C A P I T AL A C C O U N TS Capital paid in 11*1*, 621 9,1*13 53,1*1*7. 11,812 11*, 787 5,815 1*,9U9 15,861* 1*,V70 3,01*6 1*,662 i*,i*28 11,928 Surplus (Section 7) .157,502 10,91*9 56,651 15,171 H*,3U6 5,236 5,725 22,925 fc.966 3,152 3,613 3,976 10,792 Surplus (Section 13b) 26,781 2.,871* 7,070 1*,393 1,007 3,21*1* 713 1,1*29 530 1,000 1,137 1,263 2,121 Other capital accounts 1*7,906 2,506 13,21*6 3,135 1*,672 1,989 2,388 8,1*31 1,929 2,579 2,082 1,937 3,012 TOTAL LLJBILITIES AND CAPITAL ACCOUNTS 21*,338,791* 1,1*87,963 8,855,1*98 1,526,257 2,013,768 1,085,365 766,982 1*,079,957 311*,086 1*90,351* 786,01*2 51*9,117 1,921*,905 Commitments to make industrial advances 11,703 221 1^09 1,306 1,11*8 1,61*2 1,286 2,031* 1,1*50 -- 97 — 2,110 F.R.notes outstanding 9,283,661 731*,8G7 2,363,191* 61*1*,771 8'.76,605 507,31*2 353,770 1,883,530 365,827 229,1*28 298,952 163,305 862,01*2 Collateral for F.R.notes held by F.R.^gentsj Gold certificates 9,381,500 71*0,0002,370,000 665,000 380,000 525,000360,0001,900,000 370,000230,000 300,000 167,500 071*,000 Eligible paper 7,582 61*5 6,065 810 62 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to . 6« months 1 to 2 2 to 5 Over Total 15 days 30 days 60 days 90 days 6 months to 1 Year years years 5 years Bills discounted 7,921* 7,302 208 95~ 187 50" ~ 2 Industrial advances 9,950 1*,136 1,000 2k2 598 60i* 81*0 1,1*1*6 i;ocl* U.S.Government securities, direct and guaranteed 2,106,101* 19,600 5,100 15,521 75,781 86,900 70,100 317,000 367,100 1,1*78,202 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d Released for publication Friday morning, May 8,191*2; not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BiiNKS COMBINED (In thousands of dollars) Increase or decrease since May 6, x.pril 29, May 7, 1942 191+2 191+1 L S S £ T S Gold certificates on hand and . due from U. S. Treasury . * 6,001 . * 291,679 Redemption fund - F. R notes ih.Bll 330 + 1+.727 # Other cash 297,613 - 21,287 - 17,389 Total reserves 20,806,895 - 15,616 • 279,017 Bills discounted* Secured by U* Sr. Govtt obligations, direct and guaranteed 7,103 • 51+7 •f 6,253 Other bills discounted 821 * 336 * 180 Total bills discounted 7,921+ • " 933 + 6,1*33 Industrial advances 9,950 1+7 1,891 U. S. Government securities, direct and guaranteed; Bonds 11,,660066,,990022 • 38,312 2211**33,,110022 Notes 6?2,500 — m 127,800 Certificates 20,700 • 20,700 20,700 Bills 111166,,000022 ++ 2277,,000000 111166,,000022 Total f, ti. Government securities, ciTrool unu guaranteed 2,1*36,101* + 86,012 252. poll Total bills and securities 2,1*53,978 + 86,898 + 260,328 Due from foreign banks 1*7 — WW F. R. notes of other banks 25,605 • 1.115 1,591+ Uncollected items 1,015,177 - 8,852 239,979 Bank premises 1*0,560 21 657 Other assets • 16,53^ • 291 - 2,325 TOTAL ASSETS 21*,383,?9l* • 63,815 779,250 L I A B I L I T I ES - R* notes in actual ciiculation 8,076,906 • 95,171 •2,533,029 Deposits* Member bank - reserve account 12,^3,8311 -218,501 • 995,811* U. S. Treasurer - general account 375,970 +21+7,586 1+27,971 Foreign 955,031 * 62,102; 271,521+ Other deposits 1+58,097 - 69,553 - 220,81*3 Totel deposits 1^,232,932 • 21,63k -1,916,152 Deferred availability items 889977,, lloolltt - 51,005 157,115 Other liabilities including accrued divioends l+,992 - 2,01*9 99 TOTAL LJAOJLIII^S 21*, Oil, 981* + 63,751 + 77l», 091 C A P I T A! i C, 0 0*U S IS Capvtal pa?.o in 11^,621 1+ * k, 367 SurrAus.' (tfootion 7) 157,502 — li37 Surplus ^Section l^b) 26,781 — m> 1* Other oopital accounts 1+7,906 + 63 • 359 TOTAL LIABILITIES . J.D CAPITAL ACCOUNTS 21*, 363,79U • 63,015 + 779,250 Ratio of total reserves to deposit and h* note liabilities, combined 90.<$> - -..fy - Comnitnents to make industrial advances 11,703 + 30 • . 3-31 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 BAHKS CW mY 6, 19I+2 (In thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. 'Treasury 20,1+9*+,1+11 1,169,118- 7,867,920 l,221+,96l 1,606,761 829,180 587,611+ 3,51*8,1+75 628,222. 389,1+03 621,228 1+02,681+ 1,618,81+5 Redemption fund - F.R.notes ll+,871 3,230 1,1+50 675 1+80 1,722 311- 805 332 21+3 1*92 377 1*,751 Other cash 297,613 25,318 70,61+7 16,260 28,182 13,286 16,5I9 53,956 li+,1+72 6,071 11,01+8 12,31+7 29,507 Total reserves 20,806,895 1,197,666 7,91*9,017 1,21+1,896 1,635,1*23 8l+l+,188 60I+,1+1+7 3,603,236 61+3,026 395,717 632,768 1+15,1+08 1,653,103 Bills discounted: Secured by U. S.Gov*t obligations, direct and guaranteed 7,103 61+5 5,515 810 1+9 — — -- -- — 35 11+ 35 Othar bills discounted 821 — 550 — -- — — — — — 27 238 6 Total bills discounted 7,921+ 61+5 6,065 810 1+9 — — — — — 62 252 1+1 Industrial advances 9,950 992 1,088 l+,962 I93 655 899 312 8 1+62 66 212 101 U. S. Government.securities, direct and guaranteed: Bonds 1,606,902 120,1+12 1+36,250 127,1+01+ 163,31*0 97,m 69,378 198,91*1* 76,580 1+8,562 63,226 62,1+33 138,262 Notes 692,500 51,891 188,001+ 5U,90l+' 70,391 1*1,851 29,898 85,735 33,005 20,927 29,1+02 26,90? 59,585 Certificate* 20,700 1,551 5,620 1,61+1 2,10l+. 1,251 89I+ 2,563 98$ 626 8 79 80l+ 1,781 Bills 116,002 8,693 31,1*93 9,197 11,792 7,010 5,008 ll*,j62 5,528 3,506 l+,925 4*507 9,98.1 Total U. S. Gov't securities, direct and guaranteed" 2,1+36,101+ 182,51+7 661,367 193,11*6 21+7,627 11+7,223 105,178 301,60l+ 116,099 73,621 103,1+32 9l*,651 209,609 Total bills and securities" 2,l+53,978 181*,181+ 668,520 198,918 21+7,869 ll+7,878 106,077 301,916 116,107 71*,083 103,560 95,115 209,751 ; Due from foreign banks 3 18 5 1+ 2 2 6 1 *1 1 1+ F.R. notes of other banks 25,605 600 2,1+39 1,1*22 '2,225 ' 3,1*^9 3,61+0 3,603 2,851 551* 1,266 521*- 2,962 Uncollected items .1,015,177 99,571 221,1+13 75,56o 118,601 83,839 1*8,973 162,79*6 1*7,960 25,776 1+3,679 35,160 51,81+1+ Bank premises i+0,560. 2,759 10,1+31* l+,82l+ 1+,1+01 3,055 1,961+ 2,951 2,11+0 1,329 2,81+9 1.113 2,71+1 Other assets • 1+6,532 3,180 12,607 3,632 '5,21+5 2,931+ 1,871*. 5,1*1*9 2,001 1,395 1,919 1.796 1*,500 TOTAL ASSETS 21+,388,791* 1»487,963 8,855,1*98 1,526,257 2,013,768 1,085,365 766,982 1+,079,957 811+,056 1+98,851* 786,01+2 .51+9,11.7 1,921*,905 •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis