H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form P. R. 283 STATEMENT FOR THE PfcESS Released for publication Board of Governors Friday morning, bay 22; of the Federal Reserve System not earlier. May 21, 1942 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 20 member bank reserve balances decreased $131,000,000. Reductions in member bank reserves arose from increases of $146,000,000 in Treasury deposits with Federal Reserve Banks and $27,000,000 in monsy in circulation, and a decrease of $34,000,000 in Reserve Bank credit, offset in part by increases of $3,000,000 in gold stock and $5,000,000 in Treasury cuirency, and decreases of $3,000,000 in Treasury cash and $15,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on May 20 were estimated to be approximately $2,570,000,000, a decrease of $360,000,000 for th: wrBek. The principal change in holdings of bills and securities was a decrease of $39,000,000 in United States Government securities, certificates decreased $21,000,000 and bills $18,000,000. Changes in member bank reserve balances and related items during the week and the yoar ended May 20, 1942, were as follows: Increase or decrease since kay 20, May 13, May 21, 1942 1942 1941 (In millions of dollars) Bills discounv-d 5 - 3 + 3 U. S. Government direct obiigatiohs 2,441 - 39 * ^62 U. S. Government guaranteed obligations 4 ~ 1 Industrial advances (not including Ik million commitments - uay 20) 11 +1 + 3 0 th-r i^serve Bank credit 117 +3 + 75 Total Reserve Bank credit 2,578 - 3h + 3Ul Gold stocic 22,709 * 3 + ihh Treasury currency 3,299 + 5 + 168 Member banK reserve balances 12,486 -181 -1,21|6 uion-y in circulation 11,388 + 27 +2,702 Treasury cash 2,188 - 3 - 92 Treasury deposits with F. R. Banks 30k +1 b6 - 173 ITonmemb^r deposits and oth^r F. R. accounts 1,720 - 15 - 533 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28 3 STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL B 19^2 s (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve, Rich. Atlanta Chifcdgo St.Louis Minn. Kans.Cy. Dallas San Fran. F.R. notes in aptual circulation 8,916,287 679,708 2,273,853 633,860 853,043 473,990 335,232 1,355,579 349,79^ 225,351 239,361 148,539 797,992 Deposits: Member bank-reserve acct.12,486,014 618,903 5,443,606 689,411 918,329 456,814 339,783 1,776,948 370,961 183,985 378,402 309,624 999,248 U.S.Treasurer-general acct. 304,007 18,206 58,453 21,234 16,931 20,742 14,476 54,003' 18,293 14,179 14,034 7,370 45,946 Foreign 949,894 24,292 498,434 71,308 68,337 32,683 25,993 90,621 22,284 16,342 21,541 21,541 56,513 Other 476,757 11,089 348,290 9,757 41,239 3,305 2,367 3,356 10,012 7,320 5,727 2,453 26,292 Total deposits 14,216,672 672,490 6,348,783 791,710 1,044,836 513,544 333,124 1,925,013 421,550 221,326 419,754 340,938 1,127,999 Deferred availability items 1,014,563 9&,4o2 224,758 .70,411 122,417 87,277 42,734 164,326 49,495 J-9,535 42,344" 37,810 54,554 Other liabilities including accrued dividends 5,563 332 1,500 401 555 404 265 579 155 169 176 222 305 TOTAL LIABILITIES 24,153,035 1,451,432 8,840,679 1,496,332 2,020,906 1,080,215 761,355 3,945,497 320,994 466,381 752,135 527,559 1,980,350 C A P I T AL A C C O U N TS Capital paid in 144,674 9,^25 53,447 11,812 14,794 5,315 4,95? 15,866 4,479 3,054 4,664 4,423 11,931 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 13b) 26,701 2,374 7,070 4,393 1,007 3,244 713 1,429 530 1,000 1,137 1,263 2,121 Other oapital accounts 47,932 2,523 13,275 3,145 4,680 2,010 2,386 8,432 1,927 2,568 2,056 1,934 2,996 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 24,529,974 1,477,203 8,979,322 1,530,903 2,055,733 1,096,520 775,133 3,994,149 832,896 476,655 763,o05 533,160 2,008,690 Commitments to make industrial advances 13,718 1,306 462 865 1,371 1,913 1,263 2,034 2,162 216 2,126 F.R.notes outstanding 9,366,127 702,771 2,391,924 657,479 886,395 513,666360,9001,905,087373,581231,360299,043165,570 877,031 Collateral for F.R.notes held by F.R. Agents* Gold certificates 9,498,000 740,000 2,400,000 665,000 890,000 525,000 370,000 1,920,000 390,000 233,000 300,000 171,000 . 394,000 Eligible paper 4,943 350 3,539 792 - - ; - 175 87 UATURITY 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 yo&rs Bills discounted 57248 4,002 127 129 W~ 13 3 11 — " Industrial advances 10,712 5,572 399 256 654 531 730 1,444 1,076 - U.S.Government securities, direct and guaranteed 2,444,811 .10,130 20,756 22,0*60 76,005 81,950 70,100 317,800 367,100 1,478,202 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F^JU 283~a Released for publication Friday morning, Liay 22,l9l;2$ not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since .. May 20, jvl ay 13, May 21, 191*2 19U2 191*1 A S S E TS Gold certificates on hand and due from U. S. Treasury 20,508,1+09 - li,001 251,678 Redemption fund - F. R. notes 15,202 1.21*3 5,653 Other cash 298,772 - 837 - 22,253 Total reserves 20,822,383 - 3,595 + 235,078 Bills discounted: Secured by U.S.Gov't obligations, direct and guaranteed 1I,965 • 2,U97 + 33,,11**2266 Other bills discounted 283 - 562 - 375 '•^otal bills discounted 5,21+8 - 3,059 + 3,051 Industrial advances 10,712 + 1*25 + 2,558 U. S. Government securities, direct and guaranteed: Bonds 1,606,902 + 21+3,102 — Notes 692,500 — - 127,800 Certificates 15,650 - 21,750 + 15,650 Bills 129,759 - 17,825 + 129,759 Total U. S. Government securities, direct and guaranteed 2,l+j+l+,811 - 39,575 + 260,711 Total bills and securities 2,1+60,771 14.2,209 + 266,3^0' Due from foreign banks 1*7 -- F. R. notes of other banks 25,955 - 1,321 - 1,167 Uncollected items 1,131,839 - 1*8,115 + 11*5,753 Bank premises . 1*0,563 1 + 508 Other assets 1+8,1+16 517 - 2,096 TOTAL ASSETS 21,529,971* - 91*, 722 + 61+l+,396 L I A B I L I T I E S- F. R. notes in actual circulation 8,916,287 + 10,939 •2 ,531,900 Deposits: aember bank - reserve account 12,1+86,011+ LSI, 218 -1,21+5,821 U. S. Treasurer - general account 30l+,007 Ll*5,756 - 173,137 Foreign 9l*9,89U 13,1+1*2 - 291,307 Other 1*76,757 - 27,177 253,693 Totai deposits 11+, 216,672 - 1*9,197 -1,963,958 Deferred availability items 1,011+, 563 56,339 + 70,922 Glher liabilities including accrued uividends 5,563 - 157 + 1+1+6 TOTAL LIABILITIES 21+, 153,085 - 91*, 751* + 639,310 C A P I I . AL A C C O U N TS Capital paid in 11+1*, 671+ + 31 + 1*,395 Surplus (faction 7) 157,502 — + 1*37 Surplus (s ction-.ljb) 26,781 — - 1* Other capital accounts 1*7,932 + 1 + 258 TOT-iL LIABILITIES AND CAPITAL ACCOUNTS 21+, 529,971* - 9l*,722 + 61+1+, 396 R^tio of total reserves to deposit kna F. R. riote liabilities combined 90. CP/o .1% - • 1.256, Commitmunts to make industrial advances 13,718 + 11 + 2,638 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 203-b STATiiLiENT OF CONDITION OF THE FEDERAL RESERVE BANKS OH ivIaY 20. 1942 (In thousands of dollars) A S S E TS Total Boston New York Phila. Clove. Rich. A.t lanta Chicago St.Louis Liinn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 20,50Q,U09 1,139*632 7,9U7,U07 1,230,51*2 1,63^,301 831,911* 596,832 3,1*55,1*80 642,275 366,906 591,399 385,653 1,635,563 Redemption fund - F.R.notes 15,202 3,123 991* 545 1,369 1,931 249 1,622 300 226 453 348 4,037 uther cash 298,772 25,504 73,844 15,019 25,779 13,277 17,655 51,021 13,620 6,237 11,343 13,245 32,228 Total reserves 20,822,383 1., 168,259 8,022,245 1,246,106 1,661,449 347,122 614,736 3,508,123 656,195 373,369 603,700 399.251 1,721,328 dills discounted: Secured by U. S. Gov*t obligations, direct and guaranteed 4,965 350 3,539 792. — — — — 175 — 6600 1144 35 Other bills discounted 283 -- 29 — —— —- — — —— 27 221 6 Total bills discounted 5,21*3 350 3,539 792 29 — — — 175 — 37 235 41 Industrial advances , 10,712 1,225 1,070 5,382 191* 651 951* 312 8 543 66 211 96 U. S. Government secuiities direct and guaranteed: Bonds 1,606,902 120,359 436,733 .127,422 163,31*8 96,996 69,327 198,8^ 76,487 48,509 68,168 62,388 113388,,224466 Notes 692,500 51,869 188,234 54.91h 70,395 41,800 29,878 35,702 32,962 20,907 29,376 26,835 59,578 Certificates 15.650 1.172 4,254 1.241 1.991- 91*5 675 1,937 745 472 664 608 1,346 Bills 129.759 9/A9 35,271 10,239 13,191 7,332 5,598 16,059 6,176 3,917 5,505 . 5, J33. . 11,164 Total D. S Gov1t securities, # V direct and guaranteed 2,444,811 183,119 664,51*2 193,866 248,525 147,573105,473 302,567 116,370 73,805 103,713 9U,919 210,334 Total bills and * securities 2,460,771 184,691* 669,151 200,040 248,743 11*8,224 106,432 302,879 116,553 74,348 10^,366 95,365 2io,47l yue from foreign bunks 47 3 18 • 5 < 4 2 2 6 1 * l l 4 notes of other banks 2.5,955' 762 2,900 1.739 1,803 3,027 3,260 3,.552 3,208 711 1,088 708 3,197 Uncollected items 1,131,839 117,426 261,422 74,403 133,383 92,015 46,778 170,913 52,734 25,1*53 50,106 40,836 • '65,313 Bank premised • 40,563 2,759 10,431* 4,824 4,401 3,056 1,964 2,953 2,140 1,329 2,849 1,113 2,741 Oth-;r assets . 48,416 " 3,300 13,152 3,786 5,445 3,074 1,966 5,723 2,065 1,445 1,995 1,834 4,631 TOTiiL .vbSiiTS 2^,529,97^ 1,1*77,203 6,979,322 1,530,903 2,055,733 1,096,520 775,138 3,991*,H*9 832,896 1*76,655 763,605 539,160 2,003,690 •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis