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. 24} of the Federal Reserve System not earlier, December 23, I9J4.3 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 22 member bank reserve balances decreased $255*000,000. Reductions in member bank reserves arose from increases of $588,000,000 in Treasury deposits with Federal Reserve Banks, $243,000,000 in nonmembor deposits and other Federal Reserve accounts, $147*000,000 in money in circulation and $32,000,000 in Treasury cash, offset in part by an increase of $755,000,000 in Reserve Bank credit. Excess reserves of msmb.^r banks on December 22 were estimated to be approximately $920,000,000, a decroase of $320,000,000 for the woek.- There was an increase of $537*000,000 in'holdings of United States Govern­ ment securities. Bills increased $425,000,000, certificates $87,,000,000 and bonds $25,000,000. - Changes in member bank rasorve balances and related items during the week and the year ended December 22, 1943* were as follows* Incroase or decrease since Dec. 22, Doc. 15, Dec. 23, 1943 1943 1942 (In thousands of dollars) Bills discounted 70 -■ 20 + 60 U.S. Government direct obligations 11,471 ♦ 537 +5,877 U.S. Government guaranteed obligations 3j0 + 47 Industrial advances (not including 9 million commitments - December 22) 10 - 1 - 4 Other Reserve Bank credit 827 OJ roi 00 + 136 Total Reserve Bank credit 12,459 + 755 +6,167 Gold stock 22,oo4 — - 731 Treasury currency 4,097 - - + 528 Member bank reserve balances 12,677 255 - 452 Money in circulation 20,382 ♦ 147 ♦5,053 Treasury cash 2,325 + 32 + 143 Treasury deposits with Fr R, Banks 967 + 588 + 470 Nonmember deposits and other F.R,accounts 2,208 + 243 + 749 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F* R. 233c STATEuüNT 0F CONDITION OF THE FEDERAL- RESERVE BANKS ON DECEMBER 22, l$k3 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. hich. Atlanta Chicago St.Louis Hinn. Kans.Cy. Dallas San Fran. F. R. notes in actual cir­ culation 16,808,728 1154,544 3,736,738 1148,938 1,503,568 1139,984 939,202 3,149,4,68 721,055 383,768 603,515 408,287 1,919,661 Depositsi ¿¿ember bank-reserve acct. 12,677,107 635,597 4,209,051 614,253 999,272 511,130 511,609 1,929,013 437,810 289,736 571,918 519,145 1,443,568 Ü.S, Treasurer-general acct. 967,388 50,722 149,664 63,221; 82,1+04 109,421 31,276 123,732 55,106 54,978 75,365 48,397 67,599 Foreign 1,486,389 34,463 1/655,947 131,963 127,796 59,731 43,618 169,469 41,673 30,560 33,894 41,673 105,602 Other 377,776 3,742 272,333 11,013 9,666 4,605 3,628 6,149 9,961 10,600 1,497 2,650 41,872 Total deposits 15,508,660 724,524 5,287,050 325,458 1,.219,138 684,387 645,131 2,228,363 544,550 385,874 683,174 611,865 1,663,641 Deferred availability items 1,622,619 84,457 281,487 93,763 182,506 135,175 123,342 244,625 33,250 33,512 100,979 60,789 193,734 Other liabilities including accrued dividends 9,535 775 3,041 817 910 349 333 - 1,175 303 273 433 366 700 TvjTAL LIABILITIES 33,949,542 1964,300 9,303,316 2063,976 2,906,122 1960,395 1708,058 5,<=23,636 1349,163 308,432 1393,101 1081,307 3,777,73'6 Capital paid in 153,187 9,789 57,129 11,686 15,568 6,121 5,438 17,516 4,693 3,235 5,006 4,653 12,353 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 4,083 11,044 Surplus (Section ljb) 26,82=? 2,374 7,070 4,393 1,007 3,244 717 1,429 530 1,000 1,137 1,307 2,121 other capital accounts 90,121* 5,930 25,233 6,730 8,312 4,434 4,024 13,204 3,879 3,762 3,941 3,424 6,651 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 34,380,093 1994,053 9,455,799 2107,455 2,946,276 1979,430 1723,962 5^678,710 1363,231 819,650 1406,7981094,774 3,809,905 Commitments to make industrial advances 8,894 — 9 1,779 100 770 -- -- 337 -- 3,000 -- 2,899 F. R* notes outstanding 17,409,779 1191,223 3,355,087 1179,920 1,547,390 1168,773 994,556 3,217,100 754,404 391,566 027,601 444,065 2,038,089 Collateral for F*K.notes held by F.R.¿agents j Gold certificates 13,676,000 746,000 3,515,000 705,000 1,050,000 800,000 675,000 2,960,000 400,000 245,000 420,000 236,000 1,874,000 Eligible paper 62,326 8,589 25,250 1,601 — 4,100 -- — 14,500 1,000 7,286 — -- U. S. Gov11 securities 3,975,338 450,000 350,000 475,000 500,000 400,000 350,000 300,000 395,338 150,000 230,000 :175,000 200,000 MATURITY DISTRIBUTION OF BILLS AND ¿ËCUhITIES Within 16 to 31 to 6l to 9I days to 6 months 1 to 2 2 to 5 Over Total 15 days 30 days 60 days 9O days 6 months to 1 year years years 5 years Bills discounted 70,045 55,150 695 6,200 8,000 — — — — — Industrial advances 10,393 3,477 20 32 1^147 114 250 264 89 — — U. S.. Government securities, direct and guaranteed 551,391 1,334,446 997,873 2,560,763 2,441,335 1,149,000 1,175,750 223,500 437,971 1,180,253 l / After deducting £329,263,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

For* F. R, '233** Released for publication Friday morning, December 24,1943*. not earlier, .Statement of condition OF THE TWELVE FEDEHAL RESERVE BANKS- COMBINED ( In thousands of dollars) Increase or decrease since . Dec,. 22, Dec. 15, Dec. 23 1943 ‘ * 1943 } 1942 A S S E T S Gold certificates on hand and due from U. S, Treasury 19,628,260 - 15,005 - 911,392 Redemption fund - i1’. R.- notes 207,013 + 13,078 + ; 175,296 Other cash •3)1.426 - -8,052 32,962 Total reserves 20,126,704 - 9 »979, - 769,053 Bills discounted* Secured by U.S. Gov*t obligations, direct and guaranteed 70,045 * 20,*032 + 64,617 Other bills discounted -- 5*066 Total bills discounted 70,045 - 20,032 ' + 59*551 Industrial advances 10,393 165 3,700 U. S, Government'securities, direct and-guurcoiteed* • Bonds 1,614,424 + 25,455 -1,161,287 Notes 676,900 — - 659*314 •Certificates . 2,272,350 + 36,600 +1,31-6,868 Bills ; . 6,937,217 +425,647 +6,428,227 V « Total U.S. Government securities, direct and guaranteed 11,551,391 +537,702 +5»924»494 Total bills und.securities 11,631,329 +517,455 +5,980» 345 Due from foreign banks 136 -- + 89 F.; R, notes of other banks 76,264 + 3,635 + 24,719 Uncollected items 2,449,221 +245,600 + 705,074 Bank premises . 38,353 + 65 - 1,670 Other assets ‘ '57, 586 ♦ 1,500 - 27,325 TOTaL ASSETS 34,380,093: +759,276 +5,912,174 L I A B I L I T I E S F. R. notes in actual 'circulation 16,808,723. *172,598 +4,653,322 Deposits» kember bank - reserve account 12,677,107 -254,975 - 451,833 U. S. Treasurer - general account ■ 967,338 +537,907 + 470,334 Foreign .1,486,339 + 44,639 + .691,347 Other 377,776 +197.863 - -18,651 Total deposits ; 15,508,660 +575,434 +T 691,192 Deferred availability items 1,622,619 + 3,214 :+ 519.278 Other liabilities including . • - # accrued dividends 9*535 + 244 ' + ' 2,940 TOTAL LIABILITIES 33,949,542 +756,490 ;+5,867,232 C A P I* T A L - a C C 0 U N T S Capital paid in,' *^ • • 153/187 •+ 1,415 '+ 7,188 Surplus (Section 7) '160,411 + 2,909 Surplus (Section 13*0 26,32-9 — . + 48 Other capital. acc9iints 90,124 + 371 + 34,797 TOTAL LIABILITIES AND CAPITAL' ACCOUNTS 34,380,093 :+7.53,276 V5,912,174 Ratio of total reserves to deposit and F. Rt note liabilities combined 62.3% - - 15.2% Commitments to make industrial udvances 8,894 + 29 1,956 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fopm F. R. 283b STATEMENT OF CONDITION OF. THE'FEDERAL RESERVE BANKS ON DECEMBER 22., I943 (In thousands of dollars) • a S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis ¡¿inn. ■ Kans.Cy. Dallas San Fran.. Go I’d certificates on hand and due from U.S.Treasury 19,628,260 1011,664 5,534,548 1045,327 1,525,927 1063,010 938,233■3,341, I38 666,852 392,577 694,673 511,094 2,403,217 Redemption fund - notes 207,018 22,615 23,153 24,394 25,933 21,273 17,156 14,378 19,772 7,645- 11,331 8,362 10,501 Other cash 291,426 24,953 66,985 22,769 19,104 19,773 18,712 37,290 12,519 8,453. 12,973 10,-613 38,232 Total reserves 20,126,704 1059,232 5*624,691 1092,490 1,570,964 1103,056 974,101 3,093,306 699,143. 403,675: 713,977 .530,069 2,452,000 Bills discounted* Secured' by U.S.Gov^t obligations, direct and guaranteed . 70,045 8,589 25,250 1,601 l,.6l6 4,100 4,000 1,000 14,500 1,000 7,236 1,083 20 other bills discounted — — — — — — — — — — — — Total bills discounted 70,045 8,589 25,250 1,601 1,616 4,100 4,000 1,000 14,500 1,000 7,286 1,083 20 Industrial advances 10,393 342 140 4,265 390 236 222 4 174 30 15 4,575 U. S* Government securities 9 direct and guaranteed: Bonds 1,614,424 143,504 147,951 137,622 237,.067 129,51a 122,320 149,279 77,956 60,396 106,160 103,491 198,137 Notes 676,900 60,169 62,033 57,702 99,398 54,314 51,497 62,590 32,636 25,533 44,5H 43,392 83,075 Certificates 2,272,850 202,029 203,287 193,752 333,754 132,373. 172,913 210,162 109,751 ' 35,730 149,453 145,699 278,947 Bills 6,987,217 332,155 2,869,120 471,960 447,371 237,973 * 216,324 994,329 307,943 172,502 217,381 174,613- - 505,536 Total U,S.Govft securities, • • • direct and guaranteed 11,551,391 737,857 3,287,39.1 861,036 1,117,590 654,206 563,554 1,406,360 528,341 344,661 517,505 467,195 1,065,695 » Total bills and ■ securities 11,631,829 746,73 3 3,312,731 866,902 1,119,596 653,542 567,776 1,407,364 542,841 345,835 524,321. 468,.293 j , 070,290 Due from fQ.reign banks 136 3 1/ 55 13 13 6 5 • 17 3 2* 4 4 11 notes of other banks 76,264 1,598 11,990 2,249 . 4', 148 1-0,220 7,367 8,358 5,413 2,565 4,384 2.; 936 14,523 Uncollected items 2,449,221 179,543 483,412 137,002 239,241 200,59'2 169,243 361,039 111,057 59,157 151,829 33;836 263,220 bank premises 38,353 2,671 9,622 4,624 4,2i4 2,936 1,655 2,955 2,069 1,283 2,737- < ' 971 2,616 Ctiier assets 57,586 4,218 3,248 4,175 8,100 4,120 3,315 5,671 2,700 2,133 .. 3,546 3,615 ____7,2_45 TOPixiu iiSS£TS 34,380,093 1994,053 9,455,799 2107,455 2,946,276" 1979,480 1723,962 5,678,710 1363,231. 819^650 1406,7981094*774 5*.809*905 l / After deducting- $31,000 ‘participations cf other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis