H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form Fí R. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Deo, 3» ' "the Federal Reserve System not earlier. December 2, 1943 CONDITION OF THE FEDERAL RESERVE BANKS I During the week ended December 1 member bank reserve balances increased $160,000,000. Additions to member bank reserves arose from decreases of $204,000,000 in Treasury deposits with Federal Reserve Banks, $109,000,000 in nonmember deposits and other Federal Reserve accounts, and an increase of $82,000,000 in Reserve Bank credit, offset in•part by increases of $214,000,000 in money in circulation and $4,000,000 in Treasury cash and a decrease of $16,000,000 in gold stock. Excess reserves of member banks on December 1 were estimated to be approximately $1,100,000,000, an# increase of $60,000,000 -for the week. There was an increase of $83»000,000 in holdings of United States Govern* ment securities. Certificates increased $66,000,000, notes $13,000,000, bonds $3,000,000, and bills $1,000,000. Changes in member bank reserve balances and related items during the week and the year ended December 1, 1943» were as follows« Increase or decrease since De c. 1, Nov. .27, Dec, 2 1943 1943 1942 (In millions of dollars) Bills discounted 53 + 5 + '44 U. S, Government direct obligations 10,370 + Ó9 +5,252 U. S. Government guaranteed obligations 77 ' + 14 ♦ 55 Industrial advances (not including 10 million commitments - December 1) 12 3 Other Reserve Bank credit 362 - 7 + 66 Total Reserve Bank credit 10,874 + 82 +5,414 Gold stock 22,065 - 16 - 678 Treasury currency 4,101 9 + 720 m m Member bank reserve balances • 12,562 + 160 - 278 Money in circulation. 19>940 + 211* +5,092 Treasury cash 2,299 ♦ 4 + 56 Treasury deposits with F. R, Banks 275 - 204 + 181 Nonmember deposits and other F. R. accounts 1,963 169 + 404 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

if'orra P. R. 283c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BiiNKS ON DECEMBER „I, I9I4.3 (In thousands of dollars) L I a B IL I T I E S Total Boston New York Phila. Clave. Rich.. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. P. R. notes in actual cir­ culation 16,342,894 1120,555 3^604,5311 108,311 1,447,677 1103,297 914,115 3,069,716 699,434 575,951 593,310 408,491 1,997,506 Deposits: Member bank-reserve acct. 12,561,796 600,561 4,150,367 628,924 976,995 516,814 502,652 1*935,614 438,894 285,354 588,714 507,679 1,429,229 U.S.Treasurer-general acct. 275,216 15,811 24,054 11,866 25,507 26,941 14,927 47,253 23,684 17,903 19,207 20,469 27,594 Foreign 1,421,834 32,427 1/626,047 126,542 122,546 57,277 46,621 162,507 39>901 29,305 37,297 39,961 101,343 other 207,691 ; 4,156 “ 101,708 3,755 8,291 6,272 3,777 6,394 10,847 9,170 6,202 4,712 42,407 Total deposits 14,466,537 652,955 4^02,176 771,087 1,133,339 607,304 567,977 2,151,768 513,386 341,732 651,420 572,820 1,600,573 Deferred availability items 1,374,011 105,895 278,807 78,589 156,400 105,571 80,684 204,293 65,974 28,657 80,794 44,789 143,558 Other liabilities including accrued dividends 8,390 785 5,718 714 727 294 396 1,051 314 213 368 214 596 TOTAL LIABILITIES 32,191,832 1880,190 8,788,232 1958,701 2,739,143 1816,466 1563,172 5,426,828 1279,108 746,553 1325,c921026,314 3,6/42,253 Capital paid in 150,773 9,769 55,781 11,696 15,524 6,078 5,450 16,758 4,677 5,229 4,973 4,596 12,277 Surplus (Section 7) 160,411 11,.160 58,001 15,670 14,767 5,256 5,725 22,925 4,966 5,221 5,615 4,085 11,044 Surplus (Section 13^) 26,829 2,374 7,070 4,595 1,007 5,244 717 1,429 550 1,000 1,157 1,507 2,121 /■ Other capital accounts 88,850 5,778 25,097 6,571 8,581 4,542 5,894 15,542 5,825 5,705 5,902 5,505 0,510 T0T*.iL LIABILITIES AKD - CaPIT.iL xÆCOUNTS 52,618,695 1909,771 8,954,181 1997,051 2,778,022 1835,566 1578,958 5,481,262 1295,106 757,708 1339,5221059,605 5,674*185 Commitments to make industrial advances 9,887 700 9 2,114 100 770 --- 557 — 3,000 2,857 F. R* notes outstanding 16,846,040 1144,750 5,719,850 1158,617 1,431,458 1152,504. 962,066 5,113,522 728,510 38l,4o6 612,351 454,343 1,992,518 Collateral for F.R.notes held by F*k#Jigcnts: Gold certificates 13,815,000 752,000 5,565,ooo 790,000 1,085,000 850,000. 700,000 2,860,000 425,000 283,000 520,000 286,000 1,974,000 Eligible paper 44,190 1,565 17,240 7,510 — 425: — — 15,850 --- 2,000 — U^S^Gov* t securities 5,250,067 400,000 550,000 550,000 400,000 300,000 500,000 500,000 555,067 100,000 100,000 175,000 150,000 hi*.TURI T Y DISTRIBUTION OF BILLS; AND SECURITIES Within 16 to 51 to 61 to 91, days to 6 months 1 to 2 2 to 5 ‘ Over Total 15 days 50 days 60 days 90 days 6 months to 1 year years years 5 years Bills discounted 52,695 45,540 2,690 1,565 5,500 -- — — — — Industrial advance^ 11,506 10,060 57 77 178 501 231 26? 105 -— U* S^ Government securities, direct and guar^tced 10,447,080 1,449,475 836,682 2,071,895 2,081,595 792,500 1,,115,650 211,400 702,971 , 1,158,116 1/ After deducting $794,886,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, h. 233a Released for publication Friday morning, December 3,1943I not earlier, STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS C,OMBINED ,(In thousands of dollars) Increase or decrease since Dec. 1, Nov. 24, Dec, 2, 1943 1943 1942 A S S E T S Gold certificates on hand and due from U. S. Trfea'sury 19,738,515 - 45,700. 816,098 Redemption fund - F. R, notes 157,796 + 27,390 + ' 139,706 Other cash 306,988 - 3,161 + 75,822 Total reserves 20,203,299 - 21,471. 600,570. Bills discounted* Secured by U.S. Gov’ t obligations, direct and guaranteed 52,695 + 5,085 + 48,690 Other bills discounted — — - 5,000 Total bills discounted ‘52,695 + 5,085 + 43,690 Industrial advances 11,506 170 - 3,471 U, S. Government securities, direct and guaranteed! Bonds • 1,572,287 + 3,069 987,150 Notes 705,900 + 12,500 - 657,437 Certificates 1,909,650 + 66,100 +1,127,926 Bills 6,259,243 + 1,536 +5.823,876 Total U. S» Government securities, direct and guarUiri^ed j.0*,447,080 + 83,205 +5,307,215 Total bills and securities 10,511,23.1 •+ 33,120 +5,347,434 Due from foreign banks 136 -- 89 F. R. notes of other batiks 65,990 - 1,544* + 23,418 Uncollected, items 1,736,308 +114,365 240,974 Bonk premises 38,287 62 - 1,775 Other assets 63,394 + 275 - 26,358 TOTAL ASSETS 32^6^,695 +179,683 +iw988,2l2 L I A B I L I T I E S ........'■■iii.i.f » .,......■ ............ F, R„ notes in actual circulation . 16,342,894 +211,512 ^,535,016 Deposits; Member bank - reserve account 12,561,796 +159,879 - 277,864 U. S. Treasurer - general account 275,216 -203,993 + 180,935 Foreign 1,421,834 + 23,430 ♦ 505,248 Other : 207,691 -133,123 175,581 Total deposits 14,466,537 -153,807 ♦ 232,739 Deferred availability;items 1,374,011 +12i,o43 + 174,640 Other liabilities including accrued dividends. . * • 8,390' + 100 + 2,390 TOTAL LIABILITIES 32,191,832 +179,843 +4,944,784 4 C A P I T A L ACCOUNTS Capital paid in 150,773 + 269 + . 5,320 Surplus (Section 7) 160,411 — 2,909 Surplus (Section 13b) . 26,829 + .40 Other capital acoounts 33,350 + 566 ♦ 35,i5i TOTAL LIABILITIES AND CAPITAL ACCOUNTS 32,618,695 +179 »'683 ^,983,212 Ratio of total reserves to deposit and F. R. note liabilities combined 65.6% - .2% 14,3% Commitments to make industrial advances 9.837 + 155 • — 832 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F, h. 283b STATEMENT OF CONDITION OF THE FEDERAL 'RESERVE BANKS ON' DEGE13ER 1, I9U3 ( In thoussnus .of dollars) A S S E T S . Total^ . Boston 3Sew' York Phila. Cl eve..;; Rich.: Atlanta- Chicago at.Louis Minn..Kahs.Cy. Dallas San Fran. ’ Gòld certificates on hand and due from U.S. Treasury 19,733,515 1Q04,739 5,277,059 1095,646 1,589,55? ..1085,555 94?', 559 .5,976*020 700,355-425,799 • 752,250 542,804 2,446,451 Redemption fund - F.R.notes ' 157,796 è0;,987 - 19:» 165 19,105 21;257 17,907 15,678 1,231 19,376 5,186 5,413 ' 3,455 6,680 Other cash 506,^89 24,926 . 74,281 24,018 22,901 : 18,294 19,245 39,085 n,357 9^579 15,798 9,592 40,823 Total reserves 20,203,299 1050,552: 5,570,502 1157,767 1,655^470,1121,754 974,492-.5,916,556 732,068 440,552 771,451 560,651 2,495,954 Bills discounted* ♦ -* Secured by U.S. Gov’ t obligations, i direct.and guaranteed 52,695 1,565 17,240' 7,510 680 425 6,900 — ;■ 15,350 — 2,000 1,025 — Othejr bills discounted — -- , — — — — — — — —— — — — - — — Total•bills discounted- 5?,69 5 1,565 17,24o 7,510 680 425 6,900 --- 15,950 — 2,000 ' 1,025 — Industrial advances 11,506 1,427 152 4,217 590 257 226 4 — 195 50 15 4,625 U. S. Government securities* direct and guaranteed* Bonds 1,572,287 144,647 95,728 155,555 246,527 154,051 150,168 156,965 76,828 61,716 109,235 108,958 204,103 Notes 705,900 64,941 37,551 6o>7óo 110,682 60,175 58,441 61,492 34,493 27,703 49, o64 48,913 91,635 Certificates 1,909,650 175,686 .101,690 164,575 • 299,420 162,795 158,097 166,355 95*515 74,^57 152,755 152,554 247,899 Bills 6,259,245 335,207 2,917,562 579,953 274,559 217,994 159,028 912,258 - 255*155 107,906 161,761 122,908 436,975 Total U.S. Gov’ t securities f . . . . ' • airfect and guaranteed. 10,447,080 718,431 5,140,571 740,419 ' 95.1487 574,995 .485,754 1» 277 ,o48 ' 459,787 272,287 452,845 415.118 980,612 i Total bills and .. ; -, , securities 10,511,291 721,275 5,157,965 75I,.946 : 952,257 575,655 492,760 1,277,052 475,657 272,470 454,875 414,153 985,237 Due from foreign banks Ì56 5 .1/ 55 • 13 ; 13 - 6 5 ‘ 1.7 2 4 4 11 F.R. notes of other banks 65,990- 1,596 9.962 2,o55: 5,616 7,856 : 7,152 7,510 .5,516 2,419 5,257 5,316 9,975 Uncollected items 1,756,508 128,576 379,455 95,868 194,770 122,446 98,500 271,579 74,869 39,764 100,996 56,579 174,509 Bank premises 58,28.7 2,671 9,622 . 4,624 4,223 2,945 1,657 2,864 2,069 1,293 2,757 971 2,623 Other assets 65,594 5,100 . ' 6, ¿24 '4,7!?8 9,673 ‘4,746 : : 4,582 6,io5: 5,144 '2,418 4,224 4,144 7,876 ■ ♦ * » _________. ________________ TOTAL ASSETS 32,618,695-1909,771 8,934,1.81 199.7,-P3:1 2,778,022 1855,366 1578,938 5,481,-262 1293,106 757,708 1339,5221039,603 5,674,185 l / After deducting $81,000 participations of other Federal Reserve Ba.iks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis