H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F,R," 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Sept, 2$; of the Federal Reserve System not earlier, September 2h, I9k2 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 23 member bank reserve balances decreased $87k>000,000. Reductions in member bankr reserves arose from an increase of $1*79,030,000 in Treasury deposits with Federal Reserve Banks, $52,000,000 in nonmember "deposits and other Federal Reserve accounts, $79,000,000 in money in circulation, and a decrease of $276,000,000 in Reserve Bank credit, offset in part by a decrease of $6,000,000 in Treasury cash and increases of $3,000,000 each in gold stock and Treasury currency. Excess reserves on September 23 wtfre estimated to be approximately $2,030,000,000, a decrease of $1,010,000,000 for the week. The principal change in holdings of bills and securities was a decrease of $178,000,000 in United States Government securities. Certificates decreased $185,000,000 and bills $2,000,000, and bonds' increased $9,000,000. Changes in member b ank reserve balances and related items during the week and the year ended September 23, 1942, were as follows: Increase or decrease since Sept. 23, Sept. 16, Sept, 2k, 1 I9k2 I9k2~ lQkl (In millions of dollars) Bills discounted 9 - 1 - 3 U, S. Government direct obligations ' 3,390 -178 +1,211 U, S Government guaranteed obligations 5 # Industrial advances (not including 13 million commitments - September 23) 15 — +6 Other Reserve Bank credit 163 .-96 + 89 Total Reserve Bank credit 3*581 -276 +1,302 Gold stock 22,750 , + 3 +1 + Treasury currency 3#3^9 +3 155 Member bank reserve balances 11,836 <-B7U -1,387 Money in circulation 13,519 + 79 +3#Ul9 Treasury cash 2,200 - 6 - 150 Treasury deposits with F. R. Banks 1|85 +1|79 + 106 Nonmember deposits and other F.R.accounts 1,590. + 52 - 559 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F* 253c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 23, 19^2 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich, rt tlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 10,1|62,233 775,79U 2,502,737 742,898 990,059 634.715 419,943 2,118,843 418,320 258,340 356,394 190,813 1,053,419 Deposits: Member bank-reserve acct. 11,886,2814. 617,816 J|,512,8l!i 630,283 952,393 474,784 380,823 1,767,280 373,747 223,071 446,645 366,333 1,140,295 U.S.Treasurer-general acct. i;85,265 55,0314 159,1450 30,502 28,390 36,885 20,444 45,343 17,276 23,-532. 18,649 13,957 36,303 Foreign 971,633 22,700 1/508,U88 73.471 70,409 33,674 26,736 93,36? 22,960 16,837 22,194 22,19k 58,551 Other 32 0» 085 3,382 13U.U57 22,407 62,878 10,771 4,488 4,819 14,263 11,694 3,590 2,292 45,o44 Total deposits 13,665,267 £98,932 5,315,209 756,663 1,114,070 556,114 432,541 1,910,811 428,2^6 274,634 491,078 404,776 1,280,193 Deferred availability items lo'86,5U6 97,859 215,993 65,320 134,724 95,319 52,343 179,881 52,019 25,352 53,651 41,064 73,021 # Other liabilities including accrued dividends hshoi 604 1,003 317 373 365 242 443 132 157 296 235 240 TOTAL LIABILITIES 25,216,503 1,573,189 3,034,942 1,565,198 2,239,226 1,286,513 905,069 4,209,978 898,717 553,4^1 901,419 636,383 2,406,873 CAPITAL ACCOUNTS Capital paid in 145,281 9,439 53,430 11,767 14,046 5,839 5,152 16,016 4,522 3,077 4,699 4,443 11,996 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) 26,731 2,374 7,070 4,393 1,007 3,244 713 1,429 530 1,000 1,137 1,263 2 , 1 21 Other capital accounts 51,132 2,654 -14,459 3,36B 4,99^ 2,146 2,492 0,337 2,110 2,662 2,182 2,023 3,195 TOTiiL LIABILITIES AND CAPITAL ACCOUNTS 25,597,199 1,599,105 8,166,602 1,599,397 2,274,424 1,302,970 919,151 4,259,135 910,845 568,332 913,050 643,603 2,434,977 Commitments to make industrial advances 1122.,88Q922 111133 334477 1,534 579 1,207 142 326 1,163 — 1,832 — 5,649 F.R. notes outstanding 10,964,519 320,919 2,615,957 768,681 1,022,077 659,559 464,947 2,173,190 447,295 263,700 371,904 215,706 1,140,584 Collateral for F.R. notes held by F.R.Agents: Gold certificates 11,124,000 834,000 2,635,000 300,000 1,030,000 675,000 430,000 2,180,000 460,000 265,000 380,000 221,000 1,164,000 Eligible paper 3,830 300 2,475 200 — 50 — — 45 io ' -300 MATURITY DISTRIBUTION OF BILLS AND SECURITIES liithin 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 9,096 7,508 4T 1,522 2 — Industrial advances 14,633 8,783 338 175 1,675 765 1,147 •734 756 U. S„ Government securities, 424,162 1,452,853 direct and guaranteed3,395,068 199,014 104,533 498,101 63,363 211,577 145.385 295,575 l/ After deducting $462,410,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

'Form F. .R. 283a Released for publication Friday morning, September 25,19^2$ not earlier. STATEMENT CONDITIO!; OF THE TWELVE FEDERAL RESERVE BAMCS COMBINED (In thousands of dollars) Increase or decrease since Sept., 25, Sept. 16, Sept. 2k, : 19^2 19^2 I9I4I A S S E TS Gold certificates on hand and due from U. S. Treasury 20,562,623 2. + 200,594 Redemption fund - F. R. notes 14,643 766 - 1,100 Oth^r cash 232,607 • 6,439 - 36,855 Total reserves, 20,809,873 + 5,671 + 162,639 Bills discounted: Secured by U. S. "Gov't obligations, direct and guaranteed 7,525 350 5,605 Other bills discounted 1,571 907 - 8,026 Total bills discounted 9,096 - 1,347 - 2,421 Industrial advances 14,638 197 + 5,674 U. S. Government securities, direct and guaranteed: Bonds 1,609,480 • 3,435 + 335,680 Notes 670,315 — - 149,935 Certificates 446,206 -134,550 446,206 Bills 579,067 - 1,818 + 579,067 Total U. S. Government securities, direct and guaranteed 3,395,o6Q -177,883 +1,210,968 Total bills and securities ' 3,418,802 -179,427 +l,2l!i,221 Due from foreign banks • 47 — F. R. notes of other banks 32,723 - 2,[|.27 - 6,699 Uncollected items 1,249,163 -366,917 + 292,245 Bank .premises 40,306 7 - 475 Other assits 46,28 5 + 1,030 3,064 TOTAL ASSETS 25,597,190 -542,077 •1,661*,995 L I A B I L I T I ES F. R. notes in actual circulation 10,462,283 + 70,160 •3,298,033 Deposits: Member bank-reserve account 11,886,284 -873,255 -1 ,386,800 U. S, Treasurer-general account 485,265 +473,834 106,300 Foreign '97i,o33 430 ' - 139,726 Other 320,085 + 53,042 - 424,809 Total deposits 13,563,267 -341,209 -1,8145,116 Deferred availability items 1,086,546 -270,339 + 203,750 Otner h-. ilifcies including accrued dividends 4,407 + 23I4 + 457 TOTAL LT- .FTLITILS^ 25,216,503 -542,25l +1,657,124 t G A F I • T A L A C C O U N TS Capital paid in 145,281 + 14 + 4,268 Surplus (Section 7) •157,502 — + 437 Surplus (Saction ljb) 26,781 4 Other capital accounts '51,132 + 163 + 3,170 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 25,597,199 -542,077 +1 ,664,995 Ratio of total reserves to deposit and F, R. note liabilities combined 8-5.3$ + l.Ofo - 4.8$ Commitments to make industrial advances 12,892 914 + 306 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form. F. R. 283b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 23, 1942 • (In thousands of dollars) A b D Hi i O Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due-from U.S.Treasury 20,562,623 1,202,179 6,876,619 1,21*3,721* ,731,242 966,039 691,719 3,601,820 665,225 430,351 602,937 450,229 1,964,939 Redemption fund-F.R.notes 1UM 2,091 1,531 1,135 1,227 1,559 -.241 1,143 510 349 619 536 3,539 Other cash 232,607 24,050 50,331 11,347 17,015 12,002 12,477 35,523 11,947 7,013 10,330 11,353 27,059 Total reserves 20,009,873 1,, 223,320 6,923,981 1,261,256 1,799,434 900,400 704,437 3,638,491 677,690 433,218 603,986 462,173 1,996,437 Bills discounted* 1 Secured by U. S Gov1 obligations, # direct and guaranteed 7,525 300 2,475 200 50 50 2,000 — 45 "10 300 1,595 — Other bills discounted 1,571 — 638 144 133 66 53 133 45 33 52 105 114 Total bills discounted 9,096 800 3,H3 344. 188 116 .2,053 183 90 43 352 1,700 114 Indus t r i a 1 advaii c e s 114,638 461 621 5,143 659 783 802 192 14 395 1,390 138 4,040 U. S. Government securities, direct and guaranteed: Bonds 1,699*1*80 120,874 473,096 126,080 153,410 103,004 73,509 217,654 34,651 45,572 75,007 65,761 155,062 Notes 670,315 47,675 186,599 49,730 62,430 40,627 23,996 35,350 33,337 17,974 29,584 25,933 61,475 Certificates Ui6,2o6' 3i,73o 124,214 33,103 41,591 27,044, 19,300 57,146 22,226 11,965 19,693 17,266 40,922 Bills 579# 067 41,167 161,125 42,939 53,968 35,080 25,035 74,127 29,080 15,521 25,545 22,397 53,033 : Total U. S Gov't securities, * # direct and guaru*nteed 3,395,068 241,452 945,034 251,352 316,449 205,755 146,340 434,777-169,344 91,032 149,829 131,362 311,342 Total bills and securities 3,413,802 242,713 943,763 257,339 317,296 206,654 149,^5 435,152 169,448 91,470 151,571 133,200 315,496 Due from foreign banks 47 3 1/18 '5 4 2 2 6 1 * 1 1 4 F,R.notes of other banks 32,723 1,146 4,049 1,752 1,615 2,0 04 3,460 3,5Uo 3,193 1,335 3,626 095 4,703 Uncollected items 1,249,163 121,199 262,270 71,363 146,721 107,063 57,666 173,206 56,241 34,179 53,930 49,337 no,qo8 Bank premises 40,306 2,740 10,360 4,323 4,354 3,069 1,949 2,944 2,124 1,319 2,025 1,003 2,716 Other assets 46,205 ; 2,904 12,156 3,359 4,950 2,906 1,942 5,766 2,148 1,361 2,111 1,314 4,703 TOTAL ASSETS 25,597,199 1,5"'9>105 8,166,602 1,599,897 2,274,424 1,302,973 919,151 4,259,185 910,345 568,382 913,050 643,603 2,434,977 •Less than $500. l/ After deducting $29,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis