H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Dec.^17; of the Federal Reserve System not earlier. December 16, 1943 CONDITIGB OF THE FED*RaL RESERVE BANKS During the week ended December 15 member bank reserve balances increased $363»000,000.. Additions to member bank reserves arose from an increase of $164,000,000 in Reserve Bank credit and decreases of $307,000,000 in Treasury deposits with Federal Reserve Banks; $30,000,000 in nonmember deposits arid other Federal Reserve accounts and $8,000 000.in Treasury cash, offset in part by an increase of $100,000,000 in mon*y in circulation and decreases of $40,000,000 in gold stock and £5*000,000 in Treasury currency. Excess reserves of member banks on December 15 were estimated to be appr*ximattJy$1,240,000,000, an increase of $320,000,000 for the week:. There was a decrease of $2,000,000 in holdings of United States Government securities. Bills decreased $72,000,000 and notes $34,000,000, while certificates increased $100,000,000 and bonds $4,000,000, Changes in member bank reserve balances and related items during the week and the y^ar ended December 15, 1943» were as follows: Increase or decrease’ since; Dec, 15, Dec. 8, Dec. 16, 1943 1943 194g (In millions of dollars) Bills discounted .. 90 - 18 ♦ 81 U, S. Government direct obligations. 10,934 3 +5,428 U. S. Government guaranteed obligations 'do + 1 + 49 Industrial advances (not including 9 miHion commitments - December 15) 11 •- - 4 Other Reserve Bank credit 589 + 183 + 96 Total Reserve Bank credit 11,704 + 164 +5,649 Gold stock 22,004 - 40 - 740 Treasury currency 4,097 - 5 + 657 llember bank re'serve balances 12,932 + 363 + 585 Money in circulation 20,235 + 100 +5,143 Treasury cash 2,293 - 8 + 109 Treasury deposits with F,R, Banks 379 - 307 + 366 Nonmember deposits'and other F^.Rt accounts •1,965 - 30 + 533 / Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forsn. F. R* 283© STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 15, I943 (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 Minn. Kans.Cy. Dallas Son Fran. F. R. notes in actualcir­ culation 16,'636,130 1142,347. 31,679,905 1134,635 3.,481,624 1125,791 928,471 3¡,123,971 714,105 381,741 598,914 407,607 1,917,021 Deposits: : i&ember bank-reserve aoct. 12,932 ,.082 634.911 1t, 280,142 639,139 3-,017, 2cf2 522,579 516,836 ]-.975,820 4.56,721 299,578 ‘ 596,669 525,496 1,466.989 U.S^Treasurer-general acct, • 379,481 20,100 130,681 26,764 22,270 23,770 19,174 24,266 19,024 14,246 18,556 18,555 42,275 Forei gn .1,441,750. ; 35,679 1/633,236 128,100 124,065 57,986 47,198 164,518 40*455 29,667 37,758 40,455 102,627 Other 179,913 3,919 82,054 4,005 9,278 4,106 4,478 5,072 io,4<?9 8,960 1,692 2,993 42,947 Total deposits 14,933,226 " 694,609 ï?, 126,113 798,016 ].,172,815 608,441 587,686 2¡,169,676 526,‘609 352,451 6$4,475 587,49? 1,654.858 Deferred availability items 1,.6i4,4o5 115»290 316,118 101,695 172,720 119,6?4 107,439 256,564 . 83,195 35,855 84,185 53,287 168,385 Other liabilities including accrued dividends 9.291 755 . 3,174 759 366 346 423 1*070 551 241 *392 281 653 TOTAL LIABILITIES 33,193,052 1953,001 9>,125,310 2035,105 2 828,023 1854,272 1624,019 55.551, 2.81 1324,238 770,268 1357/9661048,674 3,740.897 Capital paid in 151,772 y,77l" 56,563 11,704 15,556 6,090 5,435 16,859 4,686 3,232 4i980 4,619 12,279 •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 11,044 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 Cthe r c ap i ts. 1 ac c ounts. 89*753 ; -5,873 . 25,232 6,676 8,731 4,430 5,977 15,532 3,851 5,742 3,936 3,586 6,607 TOTAL LIABILITIES AM) CAPITAL ACCOUNTS 33,621,817 •1982,679 S>,272,176 2073,546 2¡,868,084 1873,272.1659,871 5¡,605,826 1338,2.51 781,465 1351,632:1062,069 3.772,948 Commitments, to make industr: .ax advances .8,865 9 1,745 100 770 --- 337 3,000 — 2*904 F. R. notes outstanding 17,237,786 117?,251 35,797,667..1169,345 1.,532,812 1157,464 978,865 3',192,876 751*412 589,596 620,351 445.420 2,024,929 Collateral for F.R.notes held .by F.R.Agents s . Gold certificates 13 836,000 746.000 3,465,000 745.000 1,135,000 800,000.706,000 2,940,000 425.000 270,000 450.000 236,000 1,874,000 Eligible paper ' 87/634 5,774 58.745 11,615 — 3.650 — — 7,900 - U. S. Gov’ t securities .3,662,789 450.000 350,000 425,000 400,000 375,000 300,000 300,000 387,789 125,000 200,000 175,000 175,000 maturity distribution of bills and securities Within 16 to 31 to 9I days to 6 mon6t1h s to 1 to 2 2 to 5 Over .Total 15 days 30 days 60 days 6 months * to 1 9y0e ardays -years .t * yoars 5 y^ars Bills discounted 90,127 80,5.32 245 6,700 2,600 - • ~ r~ — Industrial advances 10,558 8,580 52 30 1,155 115 268 258 102 u. 3. Government securities, dirroct and guaranteed 11,013.689 1,269,696 950,244 2,522,529 2,102,701 1^175,000 1,143,750 227,000 487,971 1,154,798 l / After deducting $805,099,000 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, December 17,1943* not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars): Increase or decrease since Dec. 15, Dec, 8, ;Dec, 16, • ; 1943 1943 ■ -1942 A S S E T S Gold certificates on hand and due from U, S. Treasury 19»643,265 - 52,750 -• 918,015 Redemption fund - F. R. notes 193,940 + 15,123 +. 172,619 Other cash 299,473 ♦ 6,354 + 3,915 Total reserves 20,136,683 * 31,273 - 741,481 Bills discounted! Secured by U.S. Gov’ t obligations, direct and guaranteed 90,127 - 17,766 + 85,717 Other bills discounted a* mm — •• • - • 5,068 Total bills discounted 90,127 - 17,766 ♦ 80,649 Industrial advances 10,558 + 28 3,955 U, S.Government securities, direct and guaranteed» Bonds 1,588,969 + 4,222 -1,152,155 Notes 676,900 - 34,000 - 659 * o64 Certificates 2,186,250 '+100,300 +1,237,209 Bills 6,561,570 - 72,737 +6,050,556 Total U.S. Government securities, iiirect and guaranteed 11,013,689 - '2,265 +5,476,546 Total bills and securities 11,114,374 - 20,003 +5,553*240 % Due from foreign banks 136 ' + • 89 F, R, notes of other banks 72,629 + 3,365 + 23,659 Uncollected items 2,203,621 +563,753 + 373,817 Bank premises 38,288 + 1 1*771 Other assets 56,086 - 11,-740 - .25*814 TOTAL ASSETS 33,621,817 +504,103 +5,181,739 L I A B I L I T I E S F. R, notes in actual circulation _ 16,636,130 +103,336 +4,617,027 Deposits* Member bank • reserve account 12,932,082 +363*029 - 585,005 UCS. Treasurer- general account 379*481 -306,237 + 366,364 Foreign* 1,441,750 - 6,122 + 639*931 Other • • 179»913 - 36*051 - -181,157 Total deposits 14,933*22.6 + 14*619 + 240,133 Deferred availability items 1,614,405 +380,415 + 277,943 Other liabilities including accrued.dividends 9*291 1 >a '-B + 2,765 TOTAL LIABILITIES 33*193,052 +502,616 +5,137,873 C A P I T A L ACCOUNTS Capital paid in. r 151", 772 •+ -926* + 5,923 Surplus (Section 7) l6o,4H -- + 2,909 Surplus (Section 13b) 26,829 -- + 48 Other capital accounts 89*753 56.1 + 34,986 TOTAL LIABILITIES AND CAPITAL .ACCOUNTS ' 35,621,317 ♦50U,ifl3 +5,181,739 Ratio of total reserves to deposit and F, R„ not3 liabilities combined 63,8% .3% - . 14.4% Commitments to mak« industrial advances 8,865 + 130 1*843 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F* R« 283*» STA.TBMBNT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 15, I9U3 (In thousands of dollars) ASS B T S Tots.1 Boston New York Phila. Cleve.. Sich*' Atlanta Chicago St.Louis Minn. Kans.Cy.. Dallas Sac Fran, Gold certificates on hand and • .* due from u. s. Treasury 19,643,265 935*912 5,4-36,419.1050,566 1,531,346 1040,506 921,179 3*915,675. 682,609 402,110 701,117 522,501 2,^53,325 Redemption fund - F.R.notes 193,940 22,702 23,483 22,046 21,029 ' 22,175 14,255 14,98-1 -19,805 6,158 9,356 8,367 9,558 other cash- 299,478 24*594 71,635 . 22,547 22,31.5 17,:980 18,334 . 38,570 12,144 9,785 13,665 9,903 38,006 Total reserves 20,136,683 1033,208 5,531,542 1095,159 1,574,690 1080,661 953,766 3,969,226 714,558 418,053 724,138 540,791 2,500*889 Bills discounted: Secured by U.S%Govft obligations, direct and guaranteed 90,127 5,774 58,745 11,-615 i,34o 3,650 1,000 7,900 33 20 Other bills discounted ... Total bills discounted 90,127 5,774 58,745 11*615 i,34o 3,650 1,000 — )iV O O — 83-, 20 Industrial advances 10,558 344 152 4,407 390 236 224 4 181 30 15 4,575 U. S. Government securities 9 direct and guaranteed: Bonds 1, 588*969 142,659 128,108 135*830 237,869 129,782 123,946 144,433 76,990 60,635 106,196 104,228 193,243 Kotes 676,900 60,773 54,574 57,363 101*332 55,287 52,301 61,550 32,798 25,331 45,239 44,401 84,451 Certificates . 2,186,250 196*285 176,263 186,839 327,279 173*565 170,535 193*796 105,929 83*424 146,113 143,407 272,765 Bills 6,561,570 368,570 2,342,086 437,453 377,020 .251*951 137,813 864,03-3 236,553 .135,401 200,916 146,689 463,074 Total II. S. Gov11 .securities;. direct and guaranteed 11,015,639 •768,287 3*201*031 '813,035 1,043/500 615,585 ' 535,095 1,263,667 * 502-,276 .305,291 493,464* 438;725 1,013-, 533 Total bills: and securities ii,iï4,374 774,405 3,259,92s 3-34,057' H045,230 619>471- 536,319 1*266,871 510*176 305,472 •498,494 433,323 1,023,123 Due from foreign banks • 136 3 1/ -55 13 • 13 .6 5 17 3 2 4 ! 4' 11 F.R. notes of other banks • 72,629 1,325 11,802 2*163 '3,516 ' 9 ,*336 7,-201 0,720 '4*900 2,023 4,599 3,708 ‘ 13,236 Uncollected items 2,203,621 166,992 451 ,-490 133,411 232,433 156,323 137*089 350*670 103,925 52,565 118*203 74*223 225,792 Bank premises 33,283 2,671 9,622 4,624 4*223 2,943 1*657 2,365 2,069 1,233 2,737 971 2,623 Other assets 56,036 4,075 7,737 .4,119. 7,979 ,3,982 3,832 5,457 2,620 2,065 . 3,457 3*544 7,219 TOTAL ASSETS 33,621,817.1982,679 9,272,176 2073,546 2,868,034 1873*272 1639,871 5,605,826 1338,251 781,463: 1351,6321062,069 3,772*943 l / After jdeciucting $8i,000 participations of other Federal Reserve'Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis