H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F,R, 233 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, March 21;; of the Federal Reserve System not earlier. March 23, 19^4- CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 22 member bank reserve balances decreased $300,000,000, Reductions in member' bank reserves arose from an increase of $/jl3,000,000 in Treasury deposits with federal Reserve Banks and a decrease of $70,000,000 in gold stock, offset in part by an increase of $79^000,000 in Reserve Bunk credit and decreases of $72,000,000 in money in circulation and $29,'>00,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on March 22 were estimated to be approximately $900,000,000, There was an increase.of $133>000,000 in holdings of United States Government securities; bills increased $92,000,000; certificates $37,000,000; and bonds $3,000,000, Changes in member bank reserve balances find related items during the w;eek and the year ended March 22, I9I1I;, were as follows: Increase or decrease since March 22, March 15, March 21* I9I1U I9hh 19U5 (In millions of dollars) U. S. Govt, securities (incl. guar, sec.) 12,2Î|3 * 135 +6,295 Loans, discounts, and advances 75 + 52 Other Reserve Bank credit ¿405 52 + 93 Total Reserve Bank credit 12,722 + 79 +6,UU2 Gold stock 21,600 - 70 - 995 Treasury currency U,090 + 1 + 106 ¡.¡ember bank reserve balances 12.U05 - 300 - 679 Money in circulation ^o,93Ù - 72 +U,86? Treasury cash 2,353 - 9 + 115 Treasury deposits with F.R. Banks h95 + 1+1:3 + U89 Konmember deposits and other F.R.accounts 2,2U5 - 29 + 759 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Ferm /. Him 283c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 22, I9UU (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve, Rieh» Atlanta Chicago. St, Louis Minn, Kans.Cy. Dallas San Fr an. FidTral Reserve"notes"" 17,429,372 ll6a,070 5,373^72 1177,436 l,5a8,625 1158,320 992,929 3,267,333 7^5,86a 596,579 61*0,092 1j22,1i93 2,o)+2,35U Deoosits: ¿ember bank-reserve acct.]£,l*05,072 ' 605,698 h,075,518 620,192 967,^51 1*90,283 521*,0^1 1,831,207 1*35,71*1 279,533 567,752 525,571 1,1*2^,005 U*8.Treasurer-General acct. 1*924,99!* 25,671* 130,206 38,1*26 27»I+0I4 59,20 5 21,671* 67,528i I9,0 ;1 36», 571* 18,138 2ö,045 25,259 Foreign ' 1,51*2,951 103,510 1/608,855 15b,99b 130,592 53,693 1*6,951* 131,9l*s' 1*5,1*37 32,281 1*2 , 552 1*2,552 ill*, 535 Other 350,170 3,687 25l*,o?a 6,169 7,613 2, 5m 3,593 5,626 9,617 10,828 5,99a '2,387 ¿*0,036 Total deposits 11*,793,187 758,569 5,063,651 307,731 1,135,060 610,722 596,267 2,136,109- 509,906 359,216 6.32,1*56 596,555 1,603,915 Deferred availability items^96,i*22 .101,750 290,35!* 91,635 166,205 126,770 105,61*0 225,111 63,901 33,766 .' 81,1*28 53,576 1 51,23b Other liabilities including accrued dividends 7,1*79 636 2,01*2 *65 759 617 1,130 301 22; . 21*3 21*8 517 TOTAL LIABILITIES 55,726,1*60 2005,025 9,25^,519 2077,317 2,31*8,61*7 1396,101 1695,1453 5,629,085 1519,972 739,533 "ï 5 5472 04"10/77377 5,798.072 Capital paid in 156,555 9,373 57,758 11,828 15,950 6,277 5,563 10,163 :■ . a, 792 5,1*10 5,092 a,791 15,051 Surplus (Section 7) 133,097 15,206 70,032 17-, 859 16,026 5,236 5,725 26,490 6,350 5,669 a, 55a a,351. ia,l59 Surplus (Section 13b) 26,965 2,871* 7,092 ¿*,1*21 1,007 5,290 71*9 l,a29 550 1,000 1,157 1,507 2,129 Other capital accounts 67,195 . 5,1+25 11*, 81*2’ - 1*,255 8,271 1*, 889 a,317 10,5a-5 . 2,875 5,695 5,aaa 5,007 5,652 -* TOTAL LIABILITIES AND - • CAPITAL ACCOUNTS 51*, 165,250-2051*,1*03 9,581*,223 2115,680 2,889,385 1915,795 1711,307 5,686,510 1351*,¿49 7 801,362 1363,1*311091,813 3,83i,oa5 Commitments to make industrial loans 9,231 700 9 1,709 65 1,051 — — 2 — 5,000 2,695 F.R. notes outstanding 18,095,071* 1196,351* 1*,018,911* 1215,115 1,596,507 1195,282 1050,690 5,31*5,621* 77a,605 aoa,o65 662,898 1*59,175 2,179,851 Collateral for F.R.notes held by F.R.Agents; Gold certificates 12,911*, 000 751,000 5,1*1*5,000 71*0,000 1,093,000' 775,000 750,000; 2,595,000 295,000 250,000 a20,000 291,000 1,724,000 Eligible paper 53,088 1,610 1*5,258 - 1,355 — 1,250 — 7,510 500 2,125 - -- U.S.Govt, securities 5,1*51-, 712 1*50,000 600,000 1*75,000 500,000 1*50,000 525,000 970,000 561,712' 175,000 * 230/300 175,000 500,000 !£ATURITY DISTRIBUTION OF LOAFS A1ID SECURITIES 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 90 days. 6 months to< 1 year years years 5 y^-r£ Discounts and advances 6b > 668 52,125 1*,150 7,035 1,510 Industrial loans 9,358 8 , 1*21 19 515 -271*' 152 555 116 1*6 U. S. Govt, securities (incl, guar, sec.) 12,21*2,71*9 2,569,030 1,01*5,671* 2,186,552 2,266,1*22 91*7,190 1,286,500 17,800 977,1*1*5 1,11*8,086 l / After deducting $933,219,000 participations of .other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 203a Released for publication Friday morning, iriarch 2l\ >,1944; not earlier. STATEMENT 'F OJNPITI ON OF THE TVfF;lve'fede^ l rESERVE BaNKS COMBINED (In thousands of dollars) Increas e or decreas since Mar. 22 Mar. 15 Mar. 2I4 1944 1914+ 1943 AS' SETS Gold certificates on hand and due from U. S. Treasury 19,151,325 - 814,000 -1,241,339 Redemption fund - F. R. notes 278,850 + 9,oil + 236,746 Other cash 336,272 + 14,195 - 61,407 Total reserves 19,766,447 - 60,79b -1,066,000 Discounts and advances ’ 6b,668 627 + 54,661 Industrial loans 9,858 1+36: 2,312 U. S. Govt, securities ' Bills 6,751,878 + 92,099 +5,195,833 Certificates 2,834,640 + 37,000; +1,557,365 Notes 1 ,161,26b --- + 175,739 Bonds 1 ,444,967 + 3,250; - 636,700 Total U, S. Govt, securities (incl. guar, sec.) 12,21+2 ,749 +132,349 +6,292,287 Total loans and securities .. 12‘,317,275 +131,286 +•6,314;, 136 Due from foreign banks i 136 -T — 89 F. R. notes of other banks 86,020 + 10,572 + 15,407 Uncollo-cted items 1,901,171 -192,3141 + 306,215 Bank premises 35,012 9 . 4,080 Other assets 59',189 223 - 15,362 TOTAL ASSETS 3li,lo5,250 -112,009 +5,580,405 L I A B I L I T I E S Federal Reserve notes 17,14.29,372 - 61., 732 +4,321,686 Deposits: Member bank - reserve account 12,405,072 -299,644 - 679,297 U • S. T r e a s u r o r - g e ne r a 1 accjunt • 494,994 +i;l 3,32!; t 489,283 Forei gn 1,51+2,951 + 2,619 + 643,269 Othe r ■ 350,170 - .31,6.57 + 64,890 Total deposits 14,793,187 + 39,6142 + 518,145 Deferred availability items 1,496,422 -140,398 + 208,709 Other liabilities including accrued dividends 7 ,479 - ■ 206 1,353 TOTAL LIABILITIES 33,726,1460 -112,694 +5,547,132. C A P I T A L A CC JU N T S Capital paid in 156,533 19 + 9,622 Surplus (Section 7) 108,097 + 27,686 Surplus (Secti/m ljb) 26,965 --- 136 Other capital * acc umts 67,195 +. . 606 4,221 TjTAL LIABILITIES :3; D CAPITAL ACCOUNTS 314,165,250 -112,009 +5,530,405 Ratio of total reserves to deposit. and F. R. n'te liabilities combined • 61.35^ - 3"' 16.2# Commitments to make industrial loans 9,231 .+ 369 2,532 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

io rin F. R. 283b STATEMENT OF CONDITION OF THE FEDERAL RESERVE B^NKS ON •MARCH 22, I9UU (In thousands of dollars) A S S E T S • Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. •3-old certificates on hand and • ' : due from U.b.Treasury 19,151,325 1028,899’ 5,353,267 1151,859 1,605,893 101+6,717 1015,787 3,340,318 541,101 385,151 714,903 556,837 2,1*07,093 Redemption fund-P.R.notes 278,350 23,449- 35,271 24,425 25,272 23,863 16,590 48,378 24,323 3,755 12,008 9,500 27,016 Other cash 336,272 31,001 92,975 21,779 24,905 16,920 20,302 56,290 12,039 6,473 11,440 10,463 31,680 Total reserves 19,766,1*1*7 1063,349 5,481,513 1201,063 1,656,070 1087,500 1052,679 3,445,486 577,463 400,334 738,351 576,300 2,465,739 Discounts and advances 61;, 668 1,610 43,238 1,355 530 1,250 550 5,000 7,510 500 2,125 — 500 Industrial loans 9,858 357 123 3,888 .375 217 105 4 — 259 30 12 4,433 U„ S. Govt, securities: Bills 6,751,878 375,061 2,197,397 360,077 423,579 295,466 203,3%? 1,337.996 392,894 :177,100 235,701 173,534 574,704 Certificates 2,884,640 220,861* 61+3,189 225,21*1 316,212 192,558 160,274 310,1*44 141,427 91,362 150,234 134,951 297,884 Notes 1,161,261+ 38,915 253,927 90,675 127,293 77,518 64,520 124,974 56,934 36,778 60,430 54,325 119,920 Bonds 1, 444,967 110,637 322,181* 112,827 158,397 90,456 80,282 155,506 70,344 45,761* 75,255 67,597 149,218 Total U.S. Govt, s-ccurities (incl. guar, see.) 12,21*2,71+9 795,1+77 3,1+21,697 783,320 1,025,1*86 661,998 508,445 1,928,920 662,099 351,004 521,670 435,1+07 1,141,726 Total loans and » securities 12,317,275 797,1+1+1+ 3,1+65,058 794,563 1026,391 663,46$ 509,100 1,933,924 669,609 -351,763 523.825 435,419 1,146,714 Due from foreign banks 136 10 1/ 49 12 12 • 6 4 17 ' ‘ '4 3 4 4 11 ¿■.R.notes of other banks 86,020 1,1+79 15,123 2,913 4,097 7,143 9,170 12,373 6,797 2,279 4,045 3,844 16,757 Uncolloctod items 1,901,171 ' 11*6,317 399,659 109,420 192,203 150,509 135,866 235,142 75,9H 43,975 96,656 72,014 193,499 Bunk premises 35,012 1,656 9,081 3,576 4,186 2,922 1,645 2,934 2,053 1*276. 2,720 943 2,010 Other assets 59,189 li, 153 13,740 4,133 6,924 4,248 3,343 6,434 2,655 1,682 2,830 2,784 6,263 total ASSETS 34,165,250 2034,408 9,384,223 2115,680' 2,889,883' 19 1 5.793 1711,807 5,686,310 1334,497 301,362 1363,14.31 1091,813 3,831,043 1/ After deducting $87,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis