H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT F.OR THE PRESS Released for publication Board of Governors Friday morning, Dec. 25; of the Federal Reserve System not earlier* December 21*, 19^2 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 2J member bank reserve balances decreased $388,000,000. Reductions in,member bank reserves arose from increases of $237,000,000 in .money in circulation, $ij8ii,000,000 in Treasury deposits with Federal Reserve Banks and $27,0.0,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $9,000,000 in gold stock, offset in part by increases of $237,000,000 in Reserve Bank credit and $129,000,000 in Treasury'currency and a decrease of $2,000,000 in Treasury cash. Excess reserves of member banks on December 23 were estimated to be approximately $2,190,000,000, a decrease of $1^50,000,000 for the weok. The principal change in holdings of, bills and securities was an increase of $90,000,000 -in United States Government securities* Bonds increased $35,000,000, certificates $7,000,000 and bills $1+8,000,000. Changes in member bank reserve balances and related items during the week and the year ended December 23, I9b2, were follows: Increase or decrease since Dec. 23, Dec,, 16, Dec. 24, 1942 1942 1941 (In millions of doll ars) Bills discounted ' 10 + 1 + 3 U. S, Government direct obligations + 88 +3,356 U. S. Government guaranteed obligations 33 + 2 + 23 Industrial advances (not including 11 million commitments - December 23) 14 - 1 + 4 Other Reserve Bank credit 641 + 148 + 402 Total Reserve Bank credit 6,292 + 237 +3,79$ Gold stock 22,735 - 9 - 15 Treasury currency 3,569 + 129 + 325 Member bank reserve balances 13,129 388 + 682 Money in circulation 15,329 + 237 +4,105 Treasury cash 2,182 - 2 - 13 Treasury deposits with F, R. Banks 497 + 484 - 411 Nonmember deposits and other F. R. accounts 1.459 + 27 - 260 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, R. 283c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 23, 1942 (In thousands of dollars) N L I A B I L I T I ES Total Boston New York Phila. Cleve." Rich. Atlanta Chicago St.Lcuis Minn. Kans.Cy. Dallas San Fran. : F. R. notes in actual circulation ' 12,154,906. 885,197 2,802,311 852,368 1,138,611 785,038 541,964 2,409,707 510,254 300,254 U26,'6o'l 244.517 1,253,084 Deposits: . . .. bomber bank-reserve acct.13,128,945 716,546 4,902,811 652,870 968,334 528,129 475,309 1,888,719 453,902 267,347 516,969 472,039 1,285,970 O.S.Treasurer-general acct. 497,054 535 488,817 871 533 523 1,385 600 511 783 1,175 278 1,043 Foreign 795,042 .24,509 lA55»939 69,189 66,306 31,711 25,225 87,927 21,621 15,856 20,901. 20,901 54,957 Other 396,427 7,256 - 207,268 13,336 73,590 11,417 3,505 7,921 14,207 12,051 _ 2,243 2,835 4o>743 Total deposits 14,817,468 748,846 5,954,835 736,2661,108/763 571,780 505,424 1,985,167- 4.90,241 29S7037 '541,293 496/1031,332,713 Deferred availability items 1^03,341 100,566 238,682 70,380 128,427 86,838 45,525 168,104 53,900 24,076 54,640 43,017 84,186 Other liabilities including accrued dividends 6,595 683 1,788 429 634 442 328 .779 169 176 443 • 296 418 TOTAL LIABILITIES 28,082,310 1735,297 8,997,616 1659,443 -2,376,435 1444,098 1093,241 4,563,757 1059,564 620,543~1022,982 2","7^5,401 CAPITAL ACCOUNTS Capital paid in 145,999 • 9,486 " 53,650 11,747 14,878 5,882 5,187 16,306 4,533 3,075 4,722 4,452 12,081 Surplus (Section 7) 157,502 10,949 56,651 15,171 • 14,346 5,236 5,725 22,925 u,966 3,152 3,613 3,976 10,792 Surplus (Section 13b) 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 55,327 2,982 15,690 3,871 5,353 2,400 2,640 9.233 2,278 2,753 2,303 2,175 3,649 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 28,467,919 1761,588 9,130,677 16?4,.625 2,412,019 1460,860 1107,506 4,613,650 1071,371 630,523 1034,757 795,799 2,754,044 Commitments to make industrial advances 10,850 153 284 1,497 391 1,108 135 — 1,687 — 1,696 — 3,399 F.R. notes outstanding 12,607,792 905,488 2,903,491 871,138 1,171,422 816,375 577,539 2,457,397 537,130 306,047 441,509 273,631 1,346,575 Collateral for F.K.notes held by F.R.Agents 1 Gold certificates 12,398,000 888000 2,915,000 795,000 1,180,000 727,000 550,000 2,470,000 480,000 310,000 440,000 279,000 1,364,000 r Eligible paper 5,210 120 4,360 490 — 15 — — 45 —'.- - 130 — U.S.Gov't securities 355,000 20,000 — 100,000 — 125,000 30,000 — . 75*000 — 5,000 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l to 91 days to 6 months' 1 to 2 2 to 5 Over e Total 15 days 30 days 60 days 90 days 6 months to 1 year years years 5 y&rs Bills discounted io,494 7,503 1,100 274 1,570 k7 ^ t ^ r ^ r t ^ c u r i t i e ,, . M& 328 1, 398 .1.281 1.009 W3 3 direct and guaranteed 5,626,897 79,326 135,956 558,569 163,565 ' 255,495 550,938 241,575 1,392,807 • 2,248,666 1/ After deducting $437,736,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Pom P. R. 233a Released fojr publication Friday-morning, December*.25,19^2; not earlier, STATEMENT OP CONDITION OF THE TWELVE FEDER&L RESERVE BANKS COMBINED ' (In thousands of dollars). Increase or. decrease since Dec 23, Dec* 16, Dec. 2k, # 19^2 19U2 I9kl A S S E TS * Gold certificates on. hand and . due from U S. Treasury 20,539.652 • « 21,628 •• ..2244,,663344 t Redemption fund - F. R. notes 31,722 + 10,401 + 17,034 Other cash 324,388 * 28,825 + lio,629 Total reserves 20,895,762 • 17,598 + 152,297 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 5,428 + 1,018 + 324 Other bills discounted . 5,066 2 + 3,ioi Total bills discounted . ' 10,494. + 1,016 + 3,425 Industrial advances 14,093* 420 + ' 4,383 UI S. Government securities, direct and guaranteed: Bonds 2,775,711 + 34,587 +1,320,244 Notes 1;336,214 + • 250 .+ 558,914 Certificates 955,982 + 6,941' • 955,982 Bills 558,990 + 47,976 + 548,620 Total U. S. Government securities, direct and guaranteed 5,626,897 • 89,754 +3,393,760 Total bills and securities 5,651,484 + 90,350 +3,391,568 Dub from foreign banks 47 — P. R, notes of other banks . . 51,545 + 2,575 + 18,639 Uncollected items 1,144,147 - 85,657 + 525,718 Bonk premises 40,023 36 1,120 Other assets 84,911 + 3,011 • 42,815 TOTIIL ASSETS 28,467,919 + 27,841 +4,129,917 • L I A B I L I T I ES F, R. notes in actual circulation 12,154,906 +135,803 ++33,,995522,,882233 Deposits^ Member bank-reserve account 13,128,945 -388,142 •+ 682,078 U. STreasurer-general account 497,054 •483,937 - 410,611 # Foruign, 795,042-. - 6,777 - 13,925 Other .• 396,427 • 35,357 - 216,601 Total deposits 14,817,468 +124,375 .+ 40,941 Deferred availability items 1,103,341 -233,116 ++ 112244,,223377 Other liabilities including accrued dividends . 6,595 • 69 + . 757 ; TOTJIL LIABILITIES 28,082,310 +• 27,131 • +4,118,758 C U P I I AL ^C O U N TS Capital paid in .145,999 + 150 + 3,985 Surplus' (Section 7)" 157,502 — • 437 Surplus- (Section 13b) 26,731 — . - . 4 Othor capital accounts 55,327 + 560 +. 6,841 T0T.IL LIABILITIES *SD C.J>ITAL ^CCOUNTS 28,467,919 + 27,841 +4,129,917 Ratio of tota.1 reserves to deposit and F. R. note liabilities combined 11* % - .7% - Commitments to make industrial advances 10,850 + 142 4,119 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form P. R. 283b STATEMENT OF CONDITION OF THE" FEDERAL RESERVE. BANKS ON DECEMBER 23, I942. (In.thousands of dollars) A S S E TS Total Boston New York Phila.- Cleve. Rich. Atlanta Chicago St.L«uis Minn. Kans.Cy.. Dallas San Fran... Gold certificates on hand I and due. from U. S'. Treasury- 20,539,652 1129,681 7,180,994 1128,848 1,652,163 929,348 720,317 3,604,533 682,671 423,975 653,060 434,340 1,939,722 Redemption fund - F.R.notes 31,722 1,253 1,771 5,874 1,264 6,704 1,930 ' 1,535 3,220 218 377 331 7,195 Other cash 324,388' 35,711 65,137 20,654 39,240 18,029 25,415 33,I4O 17,323 7,752 7,713 16,490 37,2.74 Total reserves 20,895,762 1166,645 7,247,902 1155,376 1,692,667 954,081 747,662 3,639,203 703,719 436,945 666,155 501,211 1,984,1?! Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 5,423 120 4,360 490 250 15 — — 45 — 143 — Other bills'discounted 5,066 — 2,125 480 ; 494 220 175 610 150 110 177 145 330 Total bills "discounted 10,494 120 6,485 970 744 235 175 610 195 110 325 145 380 Industrial advances 14,093 447 621 5,027 331199 669944 504 112 61 363 1,380 31 4,034 u. S. Government securities, direct and guaranteed j Bonds 2,775,711 211,332 707,667 211,409 246,339 131,795 131,H7 341,074 132,437 75,133 136,404 112,972 237,977 Notes 1,336,214 101,733 340,663 101,770 118,535 37,518 63,116 164,192 63,730 . 36,174 65,664 54,333 133,631 Certificates 955,982 72,785 243,723 72,311 '84,842 62,612 45,158 117,469 . 45,630 25,373 46,979 33,908 99,182 3ills 553,990. 34,422 173,173. 34,727 41,901 . 31,301. . 23,553 89,823 .26,779" 12,1-25 24,151 13,230 . -43,720 Total U. S. Gov*t securities, direct and guaranteed 5,626,897 420,272 1,465,236 420,717 491,667 363,306 262,949 712,550 260,676 149,315 273,193 224,493 574,510 J Total bills and • securities 5,651,404- 420,339 1,472,342 426,714 493J230 364,235 263,623 713,280 ' 263,932 149,733 274,903 224;669 ' 570,924 Due from foreign banks 47 3 1/ 13 5 4 2 2 6 1 * l 1 4 F. R. notes of other banks 51,545 1,223 F, 375 1,142 3,194 10,679 4,663 6,454 4,147 1,5H 5,275 1,494 .7,333 Uncollected items 1,744,147^ 164,264 374,547 100,353 210,501 123,230 • 85,744 241,201 39,026 33;467 81,465 ' 63,312 171,529 Bank premises 40,023 2,726 10,305 4,766 4,325 ' 3,053 1,939 2,925 2,113 1,312 2,303 -1,060 2,691 Other assets • 04,9H 5,333 21,133 6,269 3,098 5,572 3,363 10,576 , 3,933 2,500 4,150 "3,552 9,322 V" " ~ 28,467,919. 1761,530.9,130,677 1694,625 2,412,019 1460,360 1107,506 4,613,650 1071,371 630,523 1034,757 795,799 2,754,044 •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