H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R, 283 STATEMENT for-the fress Released for publication Board of Governors Friday, morning, Feb. 195 of the Federal Reserve System not earlier. February 18» 1943 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 17 member bank .reserve balances increased $346,000,000« Additions to .member bank reserves arose from increases of $231,000,000 in Reserve Bank credit and $30,000,000 in Treasury currency, and de­ creases of $92,000,000 in Treasury deposits with Federal Reserve Banks and $51 ,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $47,000,000 in money in circulation arid $12,000,000 in Treasury cash. Excess reserves of member banks on February 17 were estimated to be approximately $1,990,000,000, f*n increase of'$350,000,000 for the week. The principal change in holdings of bills and securities was an incr'ease of $76,000,000 in United States Gbvernment securities. B ills'increased $161,000,000,' while bonds decreased $65,000,000, notes $3,000,000, and certificates $17,000,000, Changes in member bank reserve balances and related items during the week and tho year ended February 17, 1943, were as followss Increase or decrease since Feb. 17, Feb. 10, i’?eb. 18, : 1943 1943 1942 (In millions of dollars) Bills discounted 9 - 4 + 6 U, S, Government direct obligations 5,746 ♦ 76 +3,500 U, S, Government guaranteed obligations 49 — + 45 Industrial advance's (not including 11 million commitments - February 17) 14 — + 5 Other Reserve, Bank credit 396 + 160 + 254 Total Reserve 3ank credit 6,214 + 231 +3,810 Gold stock 22,642 —* - . 70 Treasury currency 3.915 + 30 + 651 Member, bank reserve balances 13,093 ♦ 346 + 35 Money in circulation 15,345 + 47* +4,506 Treasury cush 2,221 + 12 + 40 Treasury deposits with F. R. Banks ‘ 138 - 92 - 76 Nonmember deposits and other F, R. accounts 1,426 - 51 - 113 Feb, 10 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283° STATEMENT OF CONDITION OF TES FEDERAL RESERVE BANKS ON FEBRUARY 17, I9U3 (In thousands of dollars) L H B 1 L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. F. R. notes in actual circulation 12,428,930 910,529 2*769,038 875,835 1,160,650 795*837 568,733 2,479,164 523,417 313,064 435,858 258,730 1,338,075 Depositsj Member bank-reserve acct. 13,092,9359 649,363 4,616,459 670,547 1,086,091 533,790 507,902 1,978,029 451*725 265,542 507,904 496,815 1,328,772 U.S.Treasurer-general acct. 188,130 4,561 . 53.972 10*343 16,838 14,296 15,961 15,359 11,318 7,723 11,549 13,974 12,236 Foreign 802,332 24,511 1/ 377,069 66,378 .64,282 30,045 24,455 85,243 20,961 15,372 , 19,564 20,961 5'3,49l Other 356,165 4,756 ” 198,140 5.362 55,872 9,317 3.449 3,334 12,211 10,460 8,304 4,289 40,671 Total deposits Hi, ¿*39,566 683,191 5,245,61*0 752,630 1*223,083 587,1*1*8 551,767 2,081,965 496,215 299,097 547,321 536,039 1,435,170 Deferred availability items 1,300*361 99,236 ¿71,380 89,808 11*9,296 95,559 58,928 198,306 61,900 22,241 62,298 49,823 141,596 Other liabilities including accrued dividends 4,4o4 562 930 381* 398 1*1*9 195 567 87 I60 340 207 TOTAL LIABILITIES 28,173,261 1693,508 8,286,988 1718,657 2,533,427 1479,293 1179,623 4*760,002 1081,619 634,562 1045,817 844*717 2,915,048 CAPITAL ACCOUNTS Capital paid in 146,813 9,529 53,681 11,687 I5.233 5,929 5,233 16,400 4,586 3,161 4,788 4,475 12,111 Surplus (Section 7) 160,411 11,160 58,001 15,670 14,767 5,236 5,725 22,925 4,966 3,221 3,613 4,083 11.01*4 Surplus (Section 13b) 26,829 2,874 7,070 4.393 1,007 3,244 717 1,429 530 1,000 1,137 1,307 2,121 Other capital accounts 59,203 3,391 16,388 3»969 5,664 2,772 2,623 10,036 2,584 2,878 2 ,¿12- 2,35k ... TOTAL LIABILITIES AND ..-■wn. ..... ............ • •• • CAPITaL ACCOUNTS 28,566,517 1720,462 8.422,128 1754,376 2,570,098 1496,474 1193,921 4,310,792 1094,235 644,822 1057,374 356,936 2,944,349 Commitments to make industrial advances 10,763 92 39 1,679 334 1,005 150 — 1,702 — 1,506 — 4,206 F. R. notes outstanding 12,926,993 941,140 2,899,340 897,313 1,194,794 833,534 608,209 2,522,780 553,368 320,102 447,619 285,981 1,422,313 Collateral for F.R.notes held by F.R.Agents* Gold certificates 12,709,000 906,000 2,915,000 820,000 1,200,000 727,000 590,000 2,560,000 480,000 325,000 450,000 292,000 1,444,000 Eligible paper 4,645 30 4,490 100 - - 25 — mmmJk' — — — — — U.S. Gov't securities 395,000 50,000 • 100,000 — 125,000 30,000 -- 35,000 5,000 — — MATURITY DISTRIBUTION OF BILLS aND SECURITIES Within 16 to 31 to 6l to 9I 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 ye^-rs Bills discounted 9,435 2,438 3,703 2,104 1,180 10 - - - - Industrial advances 13,335 8,219 483 101 1,705 1,067 1,369 334 102 U* S. Government securities, direct and guaranteed 795,139 190,704 269,510 393,231 661,594 512,450 379,800 247,085 1,204,795 1,935,970 l / After deducting $423,679,000 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, February 19,1943,not earlier. S.UTBMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 17, Feb. 10, Feb, 18, 1943 1943 1942 A S S E T S Gold certificates -on* hand and due from U. S. Treasury 20,442,282 995 61,233 Redemption fund - F. R. notes 36,296 + 1,690 + 23.277 Other cash 393.570 + 5,166 + 46,151 Total reserves 20,877,148 + 5,861 + 3,195 Bills discounted« Secured by U. S. Gov’t obligations, direct and guaranteed 5.410 - 3,920 + 2,978 Other bills discounted 4.025 3 * 3,313 Total bills discounted 9.435 - 3,923 + 6,291 Industrial advances 13.885 202 + 5,332 U. S. Government securities, direct and guaranteed: 'Bonds 2,476,840 - 65,333 M- 919,280 Notes 1,234,385 - 2,600 + 542,385 Certificates 796,375 - 16,500 + 796,375 Bills 1,237,039 +160,646 ,287,039 Total U, S„ Government .securities, direct and guaranteed 5,795,139 + 76,203 +5,545,079 Total bills and securities 5,618,459 + 72,083 +3,556,702 Due from foreign banks ... . 47 F. R. notes of other banks 44,258 - 2,279 + 18,541 Uncollected items 1,696,301 +468,572 + 525,538 Bank premises 39,195 1 - 1,524 Other assets 91,109 - 1,155 42,280 TOTaL ASSETS 23,566,517 +543,081 +4.149,782 L I A B I L I T I E S F, R, notes in actual circulation 12,428,930 + 32,139 +3,990,330 Deposits: Member bank-reserve account 13,092,939' +346,062 + 35,217 U. S. Treasurer-general account 183,130 - 92,213 - 75,392 Foreign 802,332 - 3,574 + 176,235 Other • 356,165 - 50,836 - 269,220 Total deposits 14,439,566 +199,389 - 133,160 Deferred availability items 1,300,36! +308,961 + 271,689 Other liabilities -including accrued dividend’s ’ 4,4o4 + 257 1,322 TOTAL LIABILITIES 28,173,261 +540,746 +U,l30f68l C A P I T A L ACC OUN T S Capital pajd in ■146,813 Surplus (Section 7) Surplui (Section ljb) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and P. R. note liabilities combined Commitments to make industrial advances + 1—1 + 3,757 160,411 — + 2,909 26,829 — + 48 59,203 + . 2,294 + 12,387 28,566,51*7 +543,081 77.7% 1% - 13. <$> 10,763 + 146 - 4,224 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. FEBRUARY 17, I943 (In thousands of dollars) A S S E T S 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 20,14*2.,282 1145,981 6,169,1*20 1202,826 1,829,516 1015,Id* 860,377 3,534,909 734,570 1*50,291 715,681 573,133 2,210,1*74 Redemption fund - F.R.notes 36,296 2,796 1,795 5,958 733 7,676 1,528 985 5,068 153 ‘ 762 777 8,06$ other cash 398,570 35,905 82,877 23,584 46,488 21,305 20,536 66,611 17,759 9,138 13,089 12,302 48,976 Total reserves 20,877,148 1184,682 6,254,092 1232,368 1,876,737 1044,08 5 882,441 3,6o2,505 757,397 459,582 729,532586,2122,267,515 Bills discountedt- Secured by U. S* Gov’t obligations, direct and guaranteed 5,410 30 4,490 100 64o 25 125 Other bills discounted 4,025 1,708 380 393 172 140 488 120 88 112 120 304 Total, bills discounted 9,435 .30 6,198 480 1,033 197 140 488 120 88 112 245 304 Industrial advances 13,885 968 608 4,208 1,278 595 431 109 7 382 1,569 29 3,7H U, S. Government securities, direct and guaranteed! B°nds 2,476,840 182,877 658,114 194,710 233,650 151,523 111,401 306,987 118,926 72,304 117,657 97.248 231,413 Note? 1,234,885 91,180 328,117 97,075 116,504 75,547 55,539 153,055 59,291 36,051 58,659 48,438 115,379 Certificates ‘ 796,375 58,800 211,602 62,605 75,135 48,719 35,319 93,705 38,238 23,248 37,830 31,268 74,406 Bills 1,237,039 56,923 548,723 46,749 49,943 33,719 24,316 361,409 36,502 15,330 23,733 13,695 60,437 k Total U. S. Govrt securities, direct and guaranteed 5.735.13Q 389,780 1,746,561 401,139 475,267 314,508 227,075 920,156 252,957 147,433 242,879 195,^99 481,635 Total bills and securities 5,818,459 390,778 1,753,367 405,827 477,578 315,290 227,646 920,753 253,084 147,903 244,560 195,973 485,70ô I>ue from foreign banks 47 3 '1/ 18 5 4 2 2 . 6 1 * 1 l 4 F.R. notes of other banks 44,258 1,040 3,863 1,202 1,818 10,856 4.010 4,266 3,875 1,146 5,384 1,222 5,576 Uncollected items 1,696,301 135,098 377,626 103,353 200,101 117,561 74,152 269,138 73,444 32,068 71,083 68,389 173,788 Bank premises 39,195 2,717 9,805 4,743 4,317 3,o4o 1,722 2,911 2,105 1,307 2,796 1,047 2,685 Other assets 91,109 6,144 23,357 6,878 9,543 5,640 3,948 11,213 4,379 2,816 • 4,518 3,592 9,081 TüTîxL ASSETS 28,566,517 1720,4.62 8,422,128 1754,376 2,570,098 1496,474 1193,921 4,810,79? 1094,285 644,822 1057,874 856,936 2,944,349 ♦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