H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STiiTEiMT FOR TEE PRESS Released for publication Board of Governors Friday morning, May 15; of the Federal Reserve System not earlier. May 14, 1942 CONDITION OF THE FEDERAL RESERVE BA!:KS During the week ended May 13 member bank reserve balances increased $223,000,000. Additions to member bank reserves arose from decreases of $218,000,000 in Treasury deposits with Federal Reserve Banks and $2,000,000 in Treasury cash, and increases of $40,000,000 in Reserve Bank credit and $3,000,000 each in gold stock and Treasury currency, offset in part by increases of $16,000,000 in money in circulation and $27,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on i>,ay 13 were estimated to be approximately $2,930,000,000, an increase of $21*0,000,000 for the week* The principal change in holdings of bills and securities was an increase of $14.8,000,000 in United States Government securities, certificates increased $16,000,000 and bills $32,000,000. Changes in member bank reserve balances and related items during the week and the year ended May 13, 1942, were as follows: Increase ot decrease since May 13, May 6, May 14, 1942 1942 1941 (In millions of dollars) Bills discounted .. .8 — +6 U. S« Government direct obligations 2,480 + kd + 301 U. S* Government guaranteed obligations 4 — 1 Industrial advances (not including 14 million commitments - May 13) 10 —• +. 2 Other Reserve Bank aredit 109 "9 + ' 64 Total Reserve Bank credit 2,612 + bQ + 373 Gold stock 22,706 * 3 + 168 Treasury currency 3,29U • 3 + 165 Member bank reserve balances 12,667 +223 - 791 Money in circulation 11,861 * 16 •2,706 i'reasury cash 2,191 - 2 92 Treasury deposits with F. R. Banks 158 -218 - 60h Nonmember deposits and other F. R. accounts 1,735 + 27 - 513 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-0 STATEMENT OF CONDITION OF 'THE FEDERAL RESERVE BANKS ON ¥U\Y 13, 1942 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Kinn. Kans.Cy. Dallas San Fran. F .JR.notes in actual circulation 8,905,348 710,125 2,257,782 628,808 849,702 U73A93 334,037 1,844,474 348,225 225,676 288,157 148,260 796,909 Deposits: Member bank-reserve acct.12,667,232 609,315 5,1*81,016 698,489 921,011 467,019 358,642 1,846,592 371,163 187,565 387,950 324,629 1,013,841 U.S.Treasurer-general acct. 158,251 19,832 21,85* 5,590 1,291 9,464 6,030 48,756 6,972' 11,711 12,497 9,982 4,269 Foreign 936,452 23,994 492,705 70,070 . 67,151 32,115 25,547 89,048 21,897 16,058 21,167 21,167 55,533 Other 503,934 13,672 350,71*6 14,364 52,662 11,135 2,558 4,120 10,465 8,805 3,634 2,474 29,299 Total deposits 14,265,869 666,813 6,346,324 783,513 1,042,115 519,733 392,777 1,988,516 410,497 224,139 425,248 358,252 1,102,942 Deferred availability items 1,070,902 104,511 23:1,795 80,209 142,246 99,567 42,149 171,346 50,419 20*409 39,457 36,882 51,912 Other liabilities including accrued dividends 5,720 641 1,538 525 564 425 271 628 184 180 198 222 344 T0Ti.L LIABILITIES 24,247,839 1,482,090 8,837,439 1,498,055 2,034,627 1,092,918 7^,234 4,004,964 809,325 470,404 753,060 543,616 1,952,107 C u f I T A L C C 0 b IT T S . Capital paid in 144,643 9,413 53,447 11,812 14,794 5,815 4,959 15,865 4,4?o 3,048 4,664 4,428 11,928 Surplus (Section 7) 157,502 10,949 56,651 15,171 14,346 5,236 5,725 22,925 4,966 3,152 3,613 3,976 10,792 Surplus (Section ljb) 26,781 2,874 7,070 4,393 1,007 3,244 713 1,429 530 1,000 1,137 1,263 2,121 Other capital accounts 47,931 2,511 13,260 3,140 4,676 1,999 2,387 8,436 1,930 2,578 2,073 1,937 3,004 TOT^L LLJ3ILITILS ,.ND CAPITAL ~C COUNTS 24,624,696 1,507,837 8,967,867 1,-532,571 2,069,450 1,109,212 783,018 4,053,619 821,221 480,182 764,547 555,220 1,979,952 Commitments to make industrial advances 13,707 1,306 408 1,270 1,144 1,742 1,266 .2,034 2,195 196 — 2,146 F.R.notes outstanding 9,348,588 735,887 2,381,106 654,316 883,573 513,732 355,545 1,894,599 366,138 230,733 298,198 163,111 871,650 Collateral for F.R.notes held by F.R gents: Gold certificates 9,451,000 740,000 2,390,000 665,000 885,000 525,000 360,000 1,920,000 380,000 233,000 300,000 169,000 884,000 Eligible paper 7,410 6,286 1,037 87 - MATURITY DISTRIBUTION OF BILLS AND SECURITIES 1/4 i thin 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 8,307 7,822 219 60 141 c2 >3 -- -- — Industrial advances 10,287 4,758 685 241 703 510 863 1,446 1,081 U.S.Government securities, diroct and guaranteed 2,484,386 30,925 30 20,756 90,123 109,350 70,100 317,800 367,100 1,478,202 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d Released for publication Friday morning, May 15, 191+2; not earlier. STATM3NT OF CONDITION OF THE F.7ELVE FEDSPAL RESERVE BANKS COMBINED (In thousands of doll« .rs) Increase or docr«e ase since way 13, May 6, May Ik, 191+2 191*2 191+1 A S S E TS Gold certificates on hand and due from U. .S, Treasury 20,512,1+10 + 17,999 289,678 Redemption fund - F.R.notes 13.959 912 3,815 Other cash 299,609. • 1,996 - 28,1+61+ Total reserves 20,825,978 + 19,083 265,029 Bills discounted! Secured by U.S.Gov't obligations, direct and guaranteed 77,,11++6622 • 359 6,608 Gthwr bills discounted 8I+5 • 21+ * 195 Total bills discounted 8,307 + 383 6,803 Industrial advances 10,28 7 * 337 * 2,195 U. S. Government securities, direct and guaranteeds Bonds 1,606,902 — 21+3,102 Notes 692,500 — - 127,800 Certificates 37,1+00 + 16,700 37,1+00 Bills 11+7,581+ + 31,582 11+7,581+ Total U.S. Government securities, direct and guaranteed 2,l+8l+, 386 • 1+8,282 300,286 Total bills and securities 2,502,980 + 1+9,002 309,281+ umq from foreign banks 1+7 — — F. R.notes of other banks 27,276 + 1,671 * 193 Uncollected items 1,179,951* +161+, 777 162,801+ Bank premises 1+0,562 • 2 + 1*95 Other assets 1+7,399 • 1,367 - 2,272 TOT—L —SSETS 21+, 62l+,696 •&35,902 + 735,533 L I A B I L I T I ES F.R. notes in actual circulation 8,905,31+8 + 28,1+1+2 +2,51+5,677 Deposits» member bank - reserve account 12,667,232 +223,31+8 • 790,631* U. S. Treasurer - general account 158,251 -217,719 - 603,373 Foreign 936,1+52 - 18,579 298,596 Other deposits 503,931+ • 1+5,837 - 221,81+8 Tota.1 deposits H+,265,869 • 32,887 Deferred availability items 1,070,902 • +173,798 * 98,913 Other liabilities including accrued dividends 5,720 * 728 216 TOTAL LIABILITIES 21+, 21+7,839 . +235,855 730,355 C A P I T AL A C C O U N TS Capital paid in 11+1+, 61+3 + 22 It. 371 Surplus (Section 7) 157,502 — 1+37 Surplus (Section ljb) 26,781 — - 1* Oth^r capital accounts 1+7,931 25 + 371+ TOTAL LIABILITIES AND CAPITAL ACSOiSSB 21+,62li, 696 +235,902 735,533 Ratio of total reserves to deposit and F. R. note liabilities combined 89.9% - .1% - 1.3% Commitments to make industrial advances 13,707 + 2,00k 2,762 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fox'w F* R. 283-b ST^T&IEHT' OF. CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 13, I9I& (In thousands of dollars) Total Boston New York Phila .Cleve. Rich. Atlanta Chicago St Louis Minn Kans.Cy# Dallas San Fran* # s # # Gold certificates on hand and due • from U. S. Treasury 20,512,^10 1,170,269 7,910,12*6 1*223,603 1,621*,2^5. 830,281 602,U60 3,l*9l*,-256 628,379 370,100 595,050 1*03,617 1,659.821* Redemption fund - F.R. notes 13,959 3,188 1,257 617 hlk 1,317 287 ' • 721* 321 237 . 1*83 . 367 . 1*,727 Other cash 299,609 25,i*18 72,125 15,888 25,627 11*,697 17,061*: 52,531* 11*,81*0 6,270 11,561 12,663 30,922 : Total reserves 20,825,978 1,198,875 7,983,528 1,2^0,308 1,650^306 316,295 619,811,3, bhl,h9h 61*3,51*0 376,607 607,09!*: 1*16,61*7 1,695,1*73 Bills discounted: Secured by U. 3. Gov't obligations, direct and guaranteed 7,1*62 600 5,736' 1,037 60 11* 15 6 utner bills discounted 81*5 550 30 27 232 Total bills- discounted 8,507 600 6,286 1,037 30 — — — — — 87 246 21 Industrial b advances 10,287 1,227 • 1,087 5,019 192 654 906 312 : 3 508 66 .k11 97 U. 3* Government securities, direct and guaraiiteedi Jonds 1,606,902 120,120 439,160 127,511 163,36? 96,-479 fc9,l05 198,531 76,062 •4 8,280 67,911 62,182 ' 138,174 Notes 692,500 51,768 189,257 54,952 7.0,411 41,573 29,781 85.556" 32,781 20,806 29,265 26,799 59.546 Certificates 37,4oo 2,796 10,221 2,960 3,803 2,245 1,608 4,621 1,779 1,124 1,581 1,447 3,216 N Bills 11*7.584 11,032 40,334 11,711 15,006 8,861 6,347 18,234 0,986 4,434 6,237 5,7H 12,691 direct and guaranteed 2,1*84,386 185,716 * •678,972 197,142 252,607 149*163-106;841 ,306,942 11-7,599;. 74;644 104,994 96,139 213,627 Total bills and securities 2,502,980 137,543 686,345 203,198 252,829 149,317 107,747 307,254 117,607 75,152 105,147 96,596 213,745 uue from foreign banks 47 3 18 5 4 2 2 6V 1 * l 1 4 F.R.notes of other banks 27,276 675 2,799 1,745 1,666 3,851 3,278 3,965 2,502 1,573 1,346 566 2,810 Uncollected items 1,179.954 114,742 • 271,580 78,668- 154,904 103*156 48^299 .186, -366 53,403- 24; 115 45,657 38,474 ..60,592 Bank premises 40,562 2,759 io,434 4,821* 4,401 3,055 • 1,964 2,953 2,140 1,329 2,849 i,U3 2,741 OthJr assets 47,899 3,240 13,163 3,823 5,340 . 3*036 1,917 . 5,581 2,028 1,408 1,953 .1,823 4,537 TOTAL .JSSE.TS 21|,621*,690 1,507,837 8,967,867 1,532,571 ^,069,1*50 1,109,212 783,018 1*,053,619 821,221 1*80,182 7624,51*7 555,220 1,979,952 •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis