H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. Ri 23J STATEMENT FOk THE PRESS Released for publication Board of Governors Friday morning, Mar. 12j o$- the Federal Reserve System not earlier. March 11, 1943 CONDITION OF THE FEDERAL RESERVE BAJSKS During the week ended. March 10 member bank reserve balances increased $187*000,000. Additions to member bank reserves arose from increases of $260,000,000 in Reserve Bank credit und $18,000,000 in Treasury currency, and a decrease of $9,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by increases of $51,000,000 in money in circulation, $6,000,000 in Treasury cash, and $43,000*000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on March.10 were estimated to be approximately $1,880,000,000, an increase of $90,000,000 for the week. There was ap. increase of $290,000,000 in holdings of United States Govern­ ment securities. Certificates of indebtedness increased $63?,000,000, while bonds decreased $83,000,000, notes $87,000,000, and bills $172,000,000. Changes in member bank reserve balances and related items during the week and the year ended March 10, 19Ü3, were as followst Increase or decrease since Mar. 10, Mar. .3» Mar. 11, 19U3 1943 I942 (In millions of dollars) Bills discounted 9 - : 3 3 U. S. Government direct obligations 0,045 +294 +3,796 U. S. Government guaranteed obligations h5 - k + 41 Industrial advances (not including 12 million commitmc-nts - March 10) 13 — + 4 Other 'Reserve Bunk credit 273 - 28 + I99 Total Reserve Bank credit 6,390 +260 +U,o43 Gold stock 22,644 + 1 65 Treasury currency 3,971 + 18 + 700 Member ban* reserve balances 13,122 +187 + 154 Money in^circulation 16,205 + 51 ‘ +4,685 Treasury cash 2,218 + 6 + 1*2 Treasury deposits with F. R. ■ Banks 5 * 9 - 55 Nonmember deposits and other F.R,accounts 1,1*55 + 43 - 143 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forra .F. h, 283c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BaNKS OH M.1RCH 10, 1943 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St*Louis uinn. Kans.Cy. Dallas San Fran. F. R. notes in actual cir­ culation .705,336 929,136 2,806,176 393,71*3 1,130,459 815,797 602,531 2,511*, 137 537,331 :320,610 41*9,062 2^3,043 1,376,556 Deposits* ¿¿ember bank-reserve ucct. 121,623 666,430 4,548,435 691,631 1,123,031 571,746 513,713 1,959,026 1*55,293 !273,425 51*0,333 492,714 1,271*, 396 U.S.Treasurer-general acc 4,303 539 . 159 11*7 630 573 216 26^ 51*3 555 303 110 997 foreign 896,320 26,560 1A37,153 71,720 69,1*55 32,463 26,423 92,104 22,649 16,609 21,139 22,649 57,376 other 262,662 1*, 732 124,329 13,010 55,650 10,120 3,191 3,159 10,392 10,103 2,965 l*,ll*7 39,311* Total deposits 305,910 693,331 51,110,626 776,503 1,248,316 614,907 5J*8,5i*3 2,055,115 1*39,332 305,69s 564,795 519,620 l,373,533 Deferred availability item ,002,897 33,71+6 22?,215 66,724 121,052 35,523 1*5,791 157,315 51*, 157 25,1*39 54,376 41,330 111,674 Other liabilities includin accrued dividends 3,512 620 1,067 3,972 466 410 207 665 133 145 326 155 296 TOT.*!. LIABILITIES .102,663 1716,333 3,11*7,084 171*5,91*7 2, 550,793 1516,642 1197,122 4,727,732 1031,103 651,930 1069,059 335,1*53 2!,362,109 CìJPITaL ACCOUNTS Capital paid in 116,913 9,531 53,630 11.69U 15,231* 5,933 5,257 16,429 li. 591 3,165 1**739 1*,1*95 12,115 Surplus (Section 7) 160,411 11,160 53,001 15,670 14,767 5,236 5,725 22,925 4,966 3,221 3,613 1**033 11,044 surplus (Section ljb) 26,329 2,374 ' 7,070 1*,393 1,007 3,241* 717 1,1*29 530 1,000 1,137 1,307 2,121 Othor capital accounts 64,369 . 3,328 17,995 4,451 6,215 3,073 2,915 10,655 2,346 3,026 2,91*2 2,524 l**39l* TOTAL LIABILITIES AND capital accounts 23,501,635 17l*l*,276 8,233,330 1732,155 2,533,016 153I*, 133 1211,736 Commitments to make industrial advances 11,925 90 27 1,331 536 1,010 110 1,635 2,336 li, 300 r.R. notes outstanding 13.193,766 964,315 2,920,546 926,123 1,219,356 349,393 644,967 Collateral for F.k.notes held by r#h#Agents: Gold certificates 12,869,000 928,000 2,935,000 850,000 1,220,000 737,000 630,000 Eligible paper 6,060 50 5,935 50 — 25 ■ — U.S. Gov1t securities 435,000 50,000 100,000 — 125,000 30,000 175,000 5,000 MATURITY DISTRIBUTION OF BILLS iJiD SECURITIES V.i thin 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 3,71*0 1,603 5,803 1,227 103 2 -- — — — * Industrial advances 13,319 3,964 233 I7I* 300 919 1,11*8 766 130 I). S. Government securities, direct and guaranteed ,090,111 788,390 194,1*31* 726,203 500,91*9 387,150 351,900 218,700 1,107,070 1,735,315 l / After deducting $457»108,000 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, March 12,191*3, not'earlier. STATEMENT' OF. CONDITION OF THE TWELVE FEDERAL RESERVE &01KS COMBINED (In thousands of dollars) Increase or decrease since Mar, 10, Mar. 3» Mar* 11, 191*3 191*3 191*2 .%'S S E T S Gold certificates on hand and due . from U. S. Treasury 20,1*1*3,178 - 6,001 70,733 Redemption fund - F. R. notes ' 1*0,972 + l*,7l*0 4* 26,968 Other cash 3^,503 - I4., 6U1 ♦ 1*1,583 Total reserves 20,853,653 - 5,902 “ 2,182 Bills discounted» Secured by U. S, Gov’ t obligations, diroct and guaranteed 6,280 - 2,930 + 860 Other bills discounted 2,1*68 56 + 1,51*9 Total bills discounted 8,71*8 - 2,986 4- 2,1*09 Industrial advances 13,319 + 279 + 1*,633 U. S. Government securities, direct and guaranteed: Bonds 2,252,085 - 83,250 + 691,31*9 Notes 1,091,275 - 86,285 398,775 Certificates 1,1*20,875 +632,000 +1,1*20,875 Bills 1,325,376 -172,086 +1,325,876 Total U. S,Government securities, direct and guaranteed' 6,090,111 +290,379 +3,836,875 Total bills and securities 6,112,178 +287,672 +3,81*3,917 Due from foreign banks 1*7 •- F. R. notes of other banks 1*2, 6li.2 791 + ' 17,028 Uncollected items* • 1,361,165 -161,088 4- 31*3,171 Bank premises ^ 39,111 — - 1,588 Other assets 92,889 + 2,151 + 37,11*5 TOT^L ASSETS 28,501,685 +122,0l»2 +1*,237,1*91 L I A B I L I T I E S F, R. notes in actual circulation 12,705,336 + 33,21*9 +1*, 107,950 Deposits s Member bank-reserve acCount 13,121,628 +186,356 + 153,278 U. S. Treasurer-general account li,808 - 9,1*19 - 55,1*59 Foreign 896,820 + 1*5,539 + 153,091 Other 282,662 - 6,991 - 290,361* Total deposits 11*,305,918 +215,985 • 39,1*51* Deferred availability items 1,082,897 -133,750 + 11*3,983 Other liabilities including accrued dividends 8,5.12 + 3,798 4- 920 TOTAL LIABILITIES 28,102,663 +119,282 +1*, 213,399 C A P I T A L ACCOUNTS Capital paid in 11*6,913 + 57 4* 3,720 Surplus (Section 7) 160,1*11 — + 2,909 Surplus (Section 13b) 26,829 — 4- 1*8 Other capital accounts 61*,869 + 2,703 4- 17,1*15 TOTAL LIABILITIES AND CAPITaL ACCOUNTS 28,501,685 +122,01*2 +1*, 237,1*91 Ratio of total reserves to deposit and F, R. note liabilities combined 77.2% - .7% - 13.7% Commitments to make industrial advances 1 11 1 ,9a2 O 5 C - 3 ■z 1 i 6 L - 1 1 ,1 l * . 1 l. * n 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fdrm F. R„ 283b STATEMENT OF CONDITION QF THE FEDERAL RESERVE BANKS ON MARCH 10, 191*3 (In thousands of dollars) A S S E T S Total Boston New York Ehila. : Cleye. Rich. Atlanta Chic’agd St^Louis Minn. Kans.Cy.' - Dallas San Fran. Gold certificates on hand and due ‘ * . from U. S. Treasury 20,1*1*3,IT'; 1132,81*5 6,085,615 1232,663 1,873,207. 1052,389 881,262 3,565,1*76 636,556 1*60,091 '730,776 570,553 2.171,71*5 Redemption fund - F.R^notes ¿*0,972 2,601* ' ' 1,0614 .5,577 1*85 7,691* 2,355 719 10,985 113 ¿97 729 7,950 Other cash 369,503 30,961 81*, 51*7 22,829 1*5*355 20,310 15,602 53,217 15,1*33 3,651 11.869 ■ 9,61*9 1*3,072 Total reserves 20.353.653 122l*,l*10 6,171,226 126lv069 1,919,01*7 1080,1*01 099,219 3,619,1*12 662,971* 1*63,855 71*3,31*2 580,931 2,222,767 Bills discounted* Secured by U. S. Gov’ t obligations . i » direct and guaranteed 6,280 50 5,935 50 1*0 25 t — 55 — 125 Other bills discounted 2,1*68 — 1,066 233 251 108 88 305 75 — 70 75 190 Total bills discounted 3,71*0 50 7,003 288 291 133 83 305 75 55 70 ■200 190 Industrial advances 13,319 963 608 1**838 1*090 561* 390 73 7 302 759 29 3*711 U. S. Government securities, direct and guaranteed» Bonds 2,252,035 166,393 59l*,933 176,507 211,728 133,395 101,691 230,722 108,1*60 65.570 106,913 83,539 211,731* Notes 1,091,275 80,627 283,232 85*528 192,595 67,302 1*9*277 136,029 52,557 31,771 51,309 1*2,900 102,598 Certificates 1,1*20,375 10l*,930 375,352 111,361 133,583 37,631 ' 61*, 153 17/, 112 63,1*29 1*1,369 67,1*53 55,360 133,537 Bills '1,325,876 38,036 517,168 . 50,203 53,127 33,337 23*760 31*3.-539 123,23D 16,690 32,266 19,707 59,708 * * Total U. S. Gov’ t securities, * direct and guaranteed 6,090,111 390,086 1,775,735 1*23,601* 501,033 332,165 238,836 91*2,1*52 357,676 155,1*00 250, ¿1*1 207,006 507,627 Total bills and • * securities . 6,112,178 391,099 1,783,31*6 1*28,730 502,1*11* 332,362 239,361* 91*2,335 357,753 155,757 259,250 207*235 511,528 Due from foreign banks in 3 1/ 13 5 1* 2 2 6 l * 1 l 1* F.. R. notes of other banks ko ¿¿,2 1,363 i*,708 1*1*73 2,1*61* 6,900 1*,1*07 1*, 21*5 3,736 1,022 5,123 1*561 5,635 Uncollected items 1,361,165 113,551* 292,025 75*750 150,21*1 105*373 63,017 19- -513 63,7>0 6 32,706 67,51*8 53,51*1 11*0,511 Bank premises 39,111 2,712 9*737 It. 731 1*,303 3,031* 1,719 2.906 fc,iùl 1,305 2,790 1,039 2,679 Other assets 92,339 6,135 22,720 10,392 9,533 5*561 1*,003 n 253 l*,l6o 2,623 1*,286 3,551* 3*659 TOTAL ASSETS *28,501,605 171*1**276 3,.283*330 1732,155 2,530,016 1531*,133 1211,736 1,779,170 10911,036 662,31*3 1032,3i*o 61*7,062 2,891,703 ♦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