H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F._ K, 283 ST^TELSNT FOR THE PRESS Released for publication Board of Governors Friday norr.ing, May 21; of the Föderal Reserve System not earlier. May 20, I9U3 CONDITION OF THE FEDERAL RESERVE BANKS during the week ended liay 19 member bank reserve balances increased $77,000,000. Additions to member bank reserves arose from a decrease of ^51*000,000 in Treasury deposits with Federal Reserve Banks and an increase of $19,000,0.^'O in Treasury currency, offset in part by a decrease of $92,000,000 in Reserve Bank credit and increases of $54,000,000 in money in circulation, i?12,000,000 in Treasury cash and $36,000,000 in nonmembcr deposits and other Federal Reserve accounts. Excess reserves of member banks on May 19 were estimated to be approximately $1,640,000,000, a decrease of $90,000,000 for the week. There was a decrease of $134,000,000 in holdings of United States Government securities. Bonds decreased $41,000,000, notes $1^,000,000 and bills $90,000,000. Changes in member bank res-rve balances and related items during the week and the year ^ndod Ivlay 19, 1943» were as follows* Increase or decrease since i-y 19, i^y 12, liny 20, I9u3 1943 1942 (In millions of dollars) Bills discounted 10 - 15 + 5 U. S. Government direct obligations 5*984 - 134 +3,543 U. 3. Government guaranteed obligations 54 - - + 50 Industrial advanccs(not including 13 million commitments - Lay 19) 13 -- + 2 Othjr Itoservj Bank credit 373 + 58 + 256 Total hos-,;rvG Bank credit 6,434 - 92 +3,356 Gold stock 22,455 + l - 254 Treasury currency 4,051 + 18 + 752 Leribcr bank r^s^rvc bailees 11,882 + 77 - 604 I. ~ney ir. circulation 16,795 + 54 +4,907 Treasury cash 2,264 + 12 + 76 Treasury deposits vdth F.l\. Banks 379 - 251 + 75 i.om.iombcr deposits and other F#hfaccounts 1,620 + 36 - 100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

torni F. h. 283c STàTEISHT OF CONDITION OF THE FEDERAL RSS'JRVE BANKS ON MAY 19, I9U3 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. CIjvo. hich. Atl-nta Chicago St.Louis Linn. Kans.Cy. Dallas Sor. Frar.. F. li. not os in actual cir­ culation l3,-254.742% 956,964 2,920.097 936,993 1,213,697 3 51,221 661,634 2,616,333 558,596 332,811 471,033 292,497 1,442,356 IJkj pOiii tS • J.inber bunk-reserve acct. 11,882,033 592,613 3,966,489 637,465 1,052,934 492,015 463,725 1,782,994 396,532245,727 518,566 463.722 1,269,201 b.S.Treasurer-general acct. 379,051 26,563 76,321 15,671 26,275 24,505 31,052 41.433 26,533 15,440 22,92? 21,524 50,757 Foreign 929,595 28,990 l/433,375 76,539 74,170 34,666 28,217 93,356 24,186 17,736 22,574 24,166 61,550 oth'ir 377,860 5,624 267,733 11,004 12,539 11,235 1,895 2,913 13,799 1Q.4H 3,489 3,267 33,348 Ic‘:ui deposits 13,568,559 653,790 4,748,973 740,729 1,165,908 562,419 524,889 1,925,696 ¿161,150 239,314 ”567,556 512,699 1,415,356 Leferrcd a-^iiubility items 1^49,164 io4,&5 247,870 8-3,233 137,504 99,126 73,278 170,346 61,502 21,973 63,809 52,666 123,207 Other liabilities including accrued dividends 6,934 765 1,941 537______________615 433 255_______ 779 232 190 ' 438 ___201_______ 420 TOT.-iL LIABILITIES 28,079,379 1716,164 .766,552 2¡,517,784 1513,249 1265,034 74,9,71183,3,68514. 1031,530 644,288 1102,841 858,063 2,981,339 Capital paid in 147,571 9,520 11,679 15,310 5,961 5,285 .531,^60,4571 4,6>0 3,173 4,-799 4,495 12,130 Surplus ( S seti chi 7) l60,4ll H,l60 15,670 14,767 5,236 5,725 532,020,9125 4,966 3,221 3,613 4,083 11,044 Surplus (Section 13b) 26,829 2,874 4,393 1,007 3,244 717 7,017,042> 530 1,00c 1,137 1,307 2,121 Cther capital accounts 82,203 5,052 5,344 7,824 4,036 3,663 23•,1128,3603 3,661 3,524 3,686 3,141 5,901 TOTAL LIABILITIES AND : ! c«pit^l ¿1CCounts 28,496,193 1744,770 3,061,040 1304,138 2,556,692 1531,726 1200,429 4,767,162 1095,317 655,211 1116,076 871,009 3,012,543 Coirjuitments to make industrial ' advances . 13,045 717 10 1,966 435 1,175 102. — 1,824 — , 5,030 — 3,766 F. h. notes outstanding 13,792,909 1001,600 3,018,533 96-4,830 1,253,52-3 335,549 711,917 2,663,109 594,157 359,823 439,526329,0401,541,247 Collateral for F*K#notes held by F.h*agentst Gold certificates 13,378,000 906,000 3,040,000 375,000 1,200,000 777,000 660,000 2,700,000 370,000 340,000 4;0.000 336,000 1,564,000 Eligible paper ' 8,738 3,165 4,95> 515 — 50 -r — , 50 — 50 U.S. Gov’ t securities 590,000 50,000 — 100,000 — 125,000 6.),000 — 250,000 — 5,000 KA.TVKITY DISTRIBUTION OF BILLS AND 3ECUR1TIE3 Within 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 yoar yuars yours 5 aills discounted 10,033 5,H 3 3,955 74o 275 Industrial advances 15,047 . 10,339 39 221 654 351 579 658 156 li. 5. Government securities, direct and guaranteed 6,037,663 ^ 272,055 445,795 1,009,238 806,103 502,530 570,100 336,000 SCO,321 1,215,546 1/ After deducting $486,390,000 participations of other Federal heserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Perm F.R. holeased for publication riday morning,' Lay 21,I 9 U 3 5 r:°t -arlior. ? ¿TaTE.::iNT Or CCrDITIOK OF THE TTELVB FEDERAL RESERVE B.iKK8 C .i;3.iN2D Increase or decrease since luay 19, Lay 12, .ay 20, 19U3 : 1943 1942 , S S 3 T S , Gold certificates on hand and due from U, 3. Treasury 20,234,915 + ' 3 273,494 Redemption fund - F. h. notes 44,846 - 2,104 + 29,644 Other cash 365,092 + 10,261 + 66,320 Total res-.rv-.is 20,644,853 + 3,160 - 177,530 Bills discounted: Secured by 13. 3. Gov* t obligations, direct and guaranteed 10,033 - 15,057 + 5,118 Other bills discounted — — - 233 Total bills discounted . ' + ■ -10,063 '■ - 15; 037 ' 4,835 Industrial advances 13,047 236 + 2,335 U. S. Govemrunt securities, direct and guaranteed: ^onds 1,821,067 • - 40,600 ■ ' + 214,165 Notes . 956,300 - 12,300 + 264,300 Certificates 1,099,200 — 1 J,033,550 + Bills 2,160,621 - 81,364 +2,030,362 Total U. S. Government securities, ,^rCGk~^Kr gUar:uiteed- 6,037,683 ’ -134,764 ' +5,.592>377 Total bills and securities 6,060,31-3 -150,137 +3,600,014.7 Due from foreign banks 137 — + 90 F, R. notes of other b^nlcs ' '57,039 ' - ‘447 ‘ + 31,134 Uncollect■ jd items 1,622,501 + 490,662 Bank premises 3"i,? 16 — - 1,647 Oth^r assets 71,379 7 + 23,163 i C'i. ¿¿.Li .¿ibb-klTS ¿8,496,193 - 47,644 • +3,966,219 L I A B I L I T I E S F. R. notes in actual circulation 13.254,742 + 54,241 ,333¿455 Deposits: Lumber bink-reserve account 11,382-, 033 + 76,704 - 603,981 U. S. Treasurer-general account 379,051 -251,163 + 75,044 Foreign 929.595 + 27,276 - 20,299 Cth-,;r 377., 860 + 3,160 - 98,397 . Total deposits 13,563,539 -139,023 - 643,133 Deferred availability items 1,249,164 + 36,024 + 234,601 Other liabilities including accrued dividends 6,934 137 + 1,371 TOTAL LIABILITIES 28,079»379 - 48,395 +3,926,294 C A r I T A L a C G 0 U E T S Capital paj^d in .147,371 . + 300 + 2,697 Surplus (Section 7) 160,411 — + 2,909 Surplus (ocction 13b) 26,329 — + 4s . Other capital accounts ■32,203 + 951 + 34,271 total liabilities akd capital ,*ccou:;t3 26;496,193 - 47,644 +3<,966,219 Ratio of total reserves to deposit ana i\ iu note liabilities combined 77.05*» + »3> - 13. c$ Commiti.ion'DS tc make industrial advances 11-37 j 01 ! ;15— + 1-1 5r* 3'"'i - 6/0773 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283b statement of condition of the federal reserve ranks on i£ay 19, 19^3 (In thousands of dollars) a S*v) E T S Total Boston New York Phil-i. Cleve. Rich, Atlanta Chicago St.Louis Ininn. Kans.Cy. Dallas San Fran* Gold certificates on hand and due from U. S. Treasury 20,234,915 1180,611 5.6?5,72? 1269,908 1,851,478 101*9,763 905,283 3,654,494 566,345 456,601 758,404 596,007 2,249,292 Redemption fund - F.Fi.notes 44,846 2,940 1,626 5*543 283 6,959 2,752 995 15*759 281 525 579 6,810 other cash 365,092 32,395 88,161 24,532 56,599 55*976 16,367 4o,664 13*696 8,341 19*256 11,095 59*962 Total reserves 2o,644,853 1215,952 5,706,516 1299,833 1,803,360 1090,690 924,4o2 3,696,156 595,730 465,223 778,183 607,681 2,296,064 jiills discounted: Secured by U.S. Gov11 obligations, direct and guaranteed 10,083 3,165 k,95°> 515 i+0 50 500 500 50 — 50 225 30 Gthor bills discounted Tot-I bills discounted 10,083 5,165 4,950 515 4o 50 500 500 50 — 50 225 50 Indus tri al advances 15,047 1,747 605 4,010 095 439 291 69 --- 49 42 19 4.025 U. 3. Government securitiu S, direct arid guaranteed: Bonds 1,821,067 152,765 452,224 157,-602 174,643 115,906 95,067 253,472 06,661 54,555 07,027 72,.534 177,678 Notes 956,800 69,755 237,603 72,299 91,759 59,000 43,897 125,296 45,554 23,559 45,722 50,154 95,554 Certificates 1,099,200 80,137 272,965 85,-056 . 105,413 . 63,002 . 56,176 145,942 - 52,509 .52,008 52,530 45,312 107,247 Bills 2,160,621 .09,255 906,110 101,069 94,545 75,750 50,625 512,018 255,955 57,471 53,199 50,527 167,521 Total U. S. Govf t securities, direct and guaranteed 6,037,688 371,912 1,063,900 594,026 466,570 510,406 240,765 819,728 410,457 155,191 250,473 192,057 545,300 T'cc-^l bills and securities 6,060,818 376,024 1,074,463 400,159 467,305 310,945 249,554 320,297 •410,507 155,240 250,570 193,101 * 549,355 Luo from foreign banks 157 5 l / 106 5 4 2 2 6 l ♦ l 1 4 i'1. R. note3 of other banks 1,250 9,072 2,058 5,067 5,005 5,050 4,505 1,762 7,400 2,606 9,027 57,089 6,155 Uncollected items 1,622,501 145,516 365,670 92,460 135,515 109,561 96,155 252,413 71,094 51,545 05,765 65,500 140,090 isunk premises 58,916 2,703 9*750 4,703 4,289 5,024 1,681 2,896 2,095 1,500 2,778 1,026 2,666 -■thor usscts 71,879 4,734 17,461 4,922 8,556 • 4,611 5,577 9,256 5,557 2,545 5,579 5,094 6,829 t-.Tal assets 28,496,193 1744,770 8,o6i,o4o I8q4,i58 2,-556,692 1531,726 1280,429 4, 767,162 1095,517 655,211 1116,076 871,089 3,012,545 ♦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