H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. k. 283 STATEMENT FOR THE PR3SS r , , „ v. -,. , . Boai'd of Governors Released for Plication Federal Keserïs m rrlday morning, Feb. 26s February 25, 1*} not earlier* J CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 2[j. member bank reserve balances decreased $176,000,000* Reductions in member bank reserves arose from increases of $107,000,000 in.money in* circulation, $70,000,000 in Treasury deposits with Federal Reserve Banks, $15,000,000 in nonmember deposits and other Federal Reserve accounts, and $2,000,000 in Treasiiry 'cash, offset in part by increases of $10,000,000 in Treasury currency and $9*000,000 in Reserve Bank credit« Excess reserves of member banks on February 21+ were estimated to be $1,790,000,000/ a decrease of $200,000,000 for the week. There was an increase of $136,000,000 in United States Government securities* Bills increased $202,000,000 while bonds decreased $Ul,000,000, notes $15,000,000 and certificates $10,000,000. Changes in miember bank reserve balances and related items during the week and the year ended February 214, I9U3, were as follows* Increase or decrease since Feb. 21|, Feb. 17, Feb. 25, 1943 1943 1942 (In millions of dollars) Bills discounted 11 + -2 + -f U. S. Government direct obligations 5,882 + 136 +3,624 U* S. Government guaranteed obligations 49 + 45 Industrial advances (not including 12 million commitments - February 21^) 14 -- + 6 Other Reserve’ Bank credit 267 129 + 150 Total Reserve Bank credit 6,223 9 +3,831 Gold stock 22,643 + 1 - 72 Treasury currency 3,925 10 + 659 Member bank reserve balances 12,917 176 + 396 Money in circulation 15,952 + 107 ■+4,530 Treasury cash 2,223 + 2 + 34 Treasury deposits with F«R, Banks 258 + 70 - 540 Nonmember deposits and other F, R. accounts 1,441 + 15 l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAKKS ON FEBRUARY2i|, 19 Ù3 { In thousands of dollars) L I A B . I L I T TES Total Boston New York Phila. Cleve. Rieh. Atlanta Chicago St.Louis Min n. Kans.Cy. Dallas San Fran.. F. R. notes in actual circulation 12,511,483 923,026 2,780,128 837,477 1,171,514 801,086 566,928 2,496,671 524,922 314,994 437,654 260,410 1,346,673 Deposits: Member bank-reserve acct. 12,917,205 648,155 4,553,177 666,640 1,057,148 528,018 495,207 1,974,322 454,694 265,124 522,971 480,106 1,271,643 U.S*Treasurer-general acct. 258,178 430 66,852 11,265 19,1H 13,992 17,241 30,647 12,703 15,319 19,143 13,931 37,539 Foreign 801,531 26,351 1/367,704 6.7,528 65,396 30,565 24,879 86,721 21,325 15,638 19,903 21,325 54,196 Other 368,971 5,469 201,768 6,293 57,821 9,409 4,666 3,470 14,019 11,083 10,925 4,376 39,672 Total deposits 14,345,885 680,405 5,189,501 751,726 1,199,476 561,984 541,993 2,095,160 502,741 307,164 572,947 519,733 1,403,050 Deferred availability items 1,254,644 102,753 299,525 66,207 143,610 77,240 43,160 199,062 57,952 29,024 70,619 57,'830 107,012 Other liabilities including accrued dividends 4,921 603 910 563 477 433 211 674 119 190 349 153 234 TOTaL LIABILITIES 28,116,933 1706,787 8,270,064 1705,973 2,515,077 1460,743 1152,292 4,791,567 1035,734 651,972 1081,569 338,186 2,356,969 Capital accounts Capital paid in 146,022 9,529 53,672 11,683 15,235 5,932 5,234 l6,4o6 4,537 3,163 4,733 4,476 12,112 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 4,033 n,o44 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 60,906 3,537 16,923 3,978 5,826 2,866 2,692 10,230 2,637 2,933 2,635 2,420 4,174 TOTaL LIABILITIES and CaPITaL accounts 28,511,901 1733,837 3,405,735 1741,702 2,551,912 1473,021 1166,660 4,342,557 1093,504 662,289 1093,742 350,472 2,836,420 Commitments to make industrial advances 11,573 92 39 2,175 393 1,005 113 - - 1,702 1,366 ---- 4,133 F* R. notes outstanding 13,017,248 952,264 2,906,206 909,407 1,207,752 335,964 620,498 2,539,564 553,401 322,630 450,673 235,532 1,430,302 Collateral for F*R. notes held by F«R.Agents: Gold certificates 12,740,500 916,000 2,915,000 320,000 1,210,000 727,000 600,000 2,560,000 4so,ooo 325,000 450,000 293,500 1,1M ,000 Eligible paper 6,375 520 5,530 200 — 125 — — — — - - U.S.Govft securities 395,000 50,000 ---- 100,000 — 125,000 30,000 — 35,000 5,000 - - - - MATURITY DISTRIBUTION OF BILLS ,*KD SECURITIES Ti it hin 16 to 31 to 61 to 91 days to 6 raonths 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 11,314 7,320 1,300 1,956 729 9 — — — Industrial advances 13,749 8,494 455 121 1,323 1,045 1,335 738 133 — U. S. Government securities. Ì direct and guaranteed 5,931,071 220,947 325,753 249,891 896,133 554,371 352,100 245,085 1,187,395 1,898,891 . l / After deducting $Ì4.30,l|67*000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 233a Released for publication Friday morning, February 26,1943; not earlier. STATBMT OF CONDITION OF TffiS TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 24, Feb. 17, Feb. 25, 1943 .1943 1942 A S S E T S Gold certificates on hand and due from U, S. Treasury 20,441,281 - 1,001 - 61,236 Redemption fund - F, R. notes 35,889 407 + 22,750 Other cash 382,063 - 16,507 + 48,772 Total reserves 20,8 59-. 233 - 17,915 + 10,286 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 7,290 + 1,880 + 3,979 Other bills discounted 4,024 1 + 3,454 Total bills discounted 11,314 + 1,879 + 7,433 Industrial advances 13,749 136 + 5,250 U. S. Government securities, direct and guaranteed: Bonds 2,435,861 - 40,979 + 865,875 N ote s 1,219,885 - 15,000 + 527.385 Certificates 785,875 - 10,500 + 785.875 Bills 1,489,450 +202,411 +1,489,450 Total U. S. Government securities, direct and guaranteed 5,931,071 +135,932 +3,668,585 Total bills and securities 5,956,134 +137,675 +3,681,268 Due from foreign banks 47 F. R, notes of other banks 45,307 + 1,049 + 18,421 Uncollected items 1,521,463 -174.838 + 349.892 Bank premises 39,179 16 1.555 Other assets 90,533 571 + 40,930 TOTAL .10SETS 28,'511,901 - 54,616 +4,‘099»242 L I A B I L I T I E S F. R. notes in actual circulation 12,511,483 +82,553 +4,005,545 Deposits: Member bank-reserve account 12,917/205 -175,734 + 396,032 U. S, Treasurer-general account 253,178 + 70,048 - 540,251 Foreign 801,531 - : 801 + 151,644 Other 368,971 + 12,806 - 135,371 Total deposits 14,345,885 - 93.681 - 127,946 Deferred availability items 1,254,644 - 45,717 + 199.956 Other liabilities including accrued dividends 4,921 + 517 + 1,182 TOTAL LIABILITIES 23, 116,933 - 56,328 +4,078,737 c a p i t a l a c c o u n t s Capital paid in 146,822 + 9 + 3,737 Surplus (Section 7) 160,411 + 2,909 Surplus (Suction 13b) 26,829 + 48 Other capital accounts 60,906 + 1.703 + 13.811 TOTAL LIABILITIES AND C^PIT,.L ACCOUNTS 23,511,901 r-54,615 +4,099,242 Ratio of total reserves to deposit and F. R, note liabilities combined 77.77° - 13. of» Commitments to make industrial advances 11,573 + 810 3.348 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283b STATEMENT OF CONDITIffi OF THE FEDERAL RESERVE BANKS ON- FEBRUARY 21*, 191*3 (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 20,441.281 1151,759 6,077,731 1212,46? 1,825,201 1020,114 847,565 3,634,615 736,736 455,741 719.184 563,445 2,196,721 Redemption fund - F#R#notes 35,889 2,734 1,561 5,835 663 6,966 2,476 914 5,045 147 746 765 8,035 Other cash 382,063 34,383 85,471 22,822 46,505 18,742 18,251 61,054 16,824 8,994 13.IO9 11,518 44,390 Total reserves 20,859,233 1188,876 6,l6l;,763 121+1,126 1,872,56? 10ii5,82^ 866,292 3,696,583 758,605 464,882 733,039 575,723 2,249,146 Bills discounted: Secured by U. S*Govft obligations, direct and guaranteed 7#290 520 5,530 200 790 I25 — — — — — 125 -uther bills discounted ii,022| — 1,708 380 392 172 140 488 120 88 112 120 304 Total bills discounted ll*311j. 520 7,238 530 1,182 29'7 l4o 488 120 38 112 245 304 Industrial advances 13,7it9 966 608 4,511 1.254 585 397 103 7 369 1,209 29 3,711 U*S# Government securities, direct and guaranteed: Bonds 2,U35„86l 179,830 647,963 191,602 229,972 143,778 109,472 301,567 116,887 71,147 115,723 95,615 227,305 Notes 1,219,885 90,057 324,503 95,954 115,172 74,508 54,822 151,026 58,537 35,630 57,957 47,886 113,333 Certificates 785,875 58,018 209,050 61,816 74,195 48,000 35,319 97.294 37,711 22,954 37,335 30,848 73,335 Bills l,l;89,ii50 59,155 648,883 57,445 69,940 46,513 30,408 357,928- 52,055 26,886 41,783 24,266 74,138 Total U. S. Govrt securities, direct and guaranteed 5.931.071 337,060 1,830.399 406,817 ' 439,279 317,799 230,021 907,815 265,190 156,617 252,798 198,615 488,661 Total bills and securities 5,956,134 388,'346 1,838,245 411,908 491,715 318,66 1 230,558 908,406 265,317 1 57,074 254,119 198,889 492,676 Dus from foreign banks 47 3 l / 18 5 4 2 2 6 1 * 1 1 4 r,EU notes of other banks 45,307 663 “5,756 1,074 2,108 10,413 3,693 3,560 3,176 1,448 5,685 1,111 6,620 Uncollected items 1,521,463 146,927 363,819 75,932 171,836 94,437 58,475 219,949 65,026 34,834 93,591 70,108 126,!'“ Bank- premises 39,179 2,717 9,805 4,743 4,308 3,Q34 1,722 £,911 ¿,104 i»2P7 f*796 1.047 £,< Other assets QQ.S^B____6*155____23,329 6rQlL 9-572. 5.630 3C-Q18_________11,11*2___4,2jS____2,744 4,511 3,588_____ Bjjé TOTAL ASSETS 28,511,901 1733,-837 8,405,735 1741,702 2,551,912 1478,021 1166,660 4,042,557 1093,504 662,2891093,-742 850,472 2,886,420 ♦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