H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FRr-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Dec. 2; of the Federal Reserve System not earlier* December 1, 1933 CONDITION OF FEDERAL RESERVE BANKS During the week ended November 30 member bank reserve balances increased $58,000,000. Additions to member bank reserves arose from a decrease of $28,000,000 in Treasury cash and increases of $72,000,000 in gold stock and. <§7,000,000 in Treasury currency, offset in part by increases of $25,000,000 in money in circulation, #10,000,000 in Treasury deposits with Federal Reserve banks and $12,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of 03,000,000 in Reserve bank credit. Excess re .serves of member banks on November 30 were estimated to be approximately $3»380,000,000, an in­ crease of ij>30,000,000 for the week. Changes in member bank reserve balances and related items during the v/eek and the year ended November 30, 1938, were as follows! Increase or decrease since Nov. 30, Nov. 23, Dec, 1, 1938 1938 1937 (in millions of dollars) Bills discounted 7 — 10 Bills bought 1 — - 2 U. S. Government securities 2,564 — — Industrial advances (not including 1-4 million commitments - November 30) 16 + 1 — 2 Other Reserve bank credit -3 - 4 — 3 1 , Total Reserve bank credit 2,584 - 3 19 Gold stock 14,312 + 72 +1,538 Treasury currency 2,774 + 7 + 153 Member bank reserve balances 8,876 + 58 +1,970 Money in circulation 6,788 + 25 + 220 Treasury cash 2,689 - 28 «M» 938 Treasury deposits with F.R. banks 484- + 10 + 307 Nonmember deposits and other F. R. accounts 833 + 12 + 113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3?orm FHr-28>-a Released for publication Friday morning, December 2, 1938; not earlier* ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov, 30, Nov. 23, Doc* 1, 1938 1938 19.37.-_ A S S E T S Gold certificates on hand and due from U* S. Treasury 11,601,717 +109,516 +2,479,812 Redemption fund - F. R. notes 10,815 + 477 + 1,028 Other cash - 4.917 + 35,676 .. Total reserves 11,970,472 +105,076 +2,516,516 Bills discounted» Secured by U.S.Gov’t obligations, direct or fully guaranteed <4,601 + 844 - 7,471 Other bills discounted 2.480 - 366 - 2.481 Total bills discounted 7,081 + 478 - 9,952 Bills bought in open market 547 + 2 - 2,281 Industrial advances 15,821 + 622 - 2,643 U* S. Government securities* Bonds 787,327 + 49,254 Treasury notes 1,164,565 — - 3,898 Treasury bills 612.123 - 45.356 Total U.S. Government securities 2,564,015 — -------- Total bills and securities 2,587,464 +1,102 - 14,876 Due from foreign banks 174 - 2 4 - F. R. notes of other banks 23,642 - 95 - 2,142 Uncollected items 616,017 -28,057 -54,228 Bank premises 44,119 - 74 - 1,149 All other assets 51.076 + . 394 + 6.915 TOTAL ASSETS 15,292,964 +78,344 +2,451,032 L I A B I L I T I E S F. R. notes in actual circulation 4,384,882 +22,417 +: 105,393 Deposits* Member bank — reserve account 8,876,481 +58,146 +1,970,009 U. S. Treasurer - General account 483,982 + 9,666 + 307,345 Foreign bank 208,097 - 3,984 - 64,395 Other deposits 3.66x168 +15,730. + 179,312 ________ Total deposits 9,934,728 +79,558 +2,392,272 Deferred availability items 619,425 -23,850 - 50,503 Capital paid in 134,032 + 19 + 1,514 Surplus (Section 7) 147,739 + 1,885 Surplus (Section 13 b) 27,683 + 68 Reserve for contingencies 32,672 - 3,062 All other liabilities 11*803. + 200 .+._1j46£ TOTAL LIABILITIES 15,292,964 +78,344 +2,451,032 Ratio of total reserves to deposit and F. R. note liabilities combined 83.6# + *1% + 3.6$ Contingent liability on bills purchased for foreign correspondents 240 -84 - 1,648 Commitments to make industrial advances 14,328 -7 + 1,079 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~283~b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES OK NOVEMBER 30, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 11,601,717 616,693 5,151,777 504,963 711,345 345,097 264,067 2,164,532 320,033 250,620 307,566 193,596 771,428 Redemption fund - F.R.notes 10,815 430 1,653 1,383 965 907 651 800 887 624 545 209 1,761 Other cash ____3_57_,_9_4_0__38,053 99,619 27,785 20,842 19,672 12,742 51,570 19,790 8,422 14,911 13,809 30,725 Total reserves 11,970,472 655,176 5,253,049 534,131 733,152 365,676 277,460 2,216,902 340,710 259,666 323,022 207,614 803,914 Bills discounted* Secured by U.S.Gov*t obligations, direct or fully guaranteed 4,601 740 1,902 747 106 143 203 103 245 ll4 11-4 14 170 Other bills discounted 2,480 347 548 258 65 268 123 50 186 565 60 10 Total bills discounted 7,081 740 2,249 1,295 364 208 471 226 295 300 679 74 180 Bills bought in open market 547 4l 218 55 50 23 19 67 2 2 16 16 38 Industrial advances 15,821 2,170 3,592 3,267 620 1,435 797 415 45 990 392 774 1,324 U. S. Government securities* Bonds 787,327 59,2.55 250,391 68,403 79,168 36,947 32,096 84,870 32,792 17,446 34,774 28,943 62,242 Treasury notes 1,164,565 87,647 370,360 101,177 117,101 54,649 47,473 125,535 48,504 25,805 51,438 42,812 92,064 Treasury bills 612,123 46,069 194,671 53,181 61,551 28,725 24,953 65,984 25,495 13,564 27,036 22,503 48,391 Total U.S.Gov't securities 2,564,015 192,971 815,422 222,761 257,820 120,321 104,522 276,389 106,791 56,815 113,248 94,258 202,697 Total bills and securities 2,587,464 195,922 821,481 227,378 258,854 121,987 105*809 277,097 107,133 58,107 114,335 95,122 204,239 Due from foreign banks 174 13 62 18 17 8 6 22 3 2 5 5 13 F.R.notes of other banks 23,642 576 5,688 1,048 1,185 1,487 1,435 3,346 2,450 1,564 1,007 465 3,391 Uncollected items 616,017 65,277 164,570 45,630 69,606 47,528 20,968 79,833 26,346 16,670 31,358 21,516 26,715 Bank premises 44,119 2,950 9,791 4,710 6,029 2,627 2,080 4,489 2,297 1,536 3,097 1,261 3,252 All other assets 51,076 3,339 15,834 4,804 5,673 2,890 2,351 4,923 1,926 1,260 2,056 1,832 4,188 TOTAL ASSETS 15,292,964 923,253 6,270,475 817,719 1,074,516 542,203 410,109 2,586,612 400,865 338,805 474,880 327,815 1,045,712 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON NOVEMBER 30, 1938 (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 San Fran. F.R.notes in actual circulation 4,384,882 382,696 1,011,073 315,839 420,062 209,316 147,773 981,403 180,836 135,744 168,307 80,823 351,010 Deposits* Member bank - reserve account 8,876,481 406,368 4,585,111 363,877 483,036 222,068 170,549 1,329,161 217,436 117,861 231,963 174,808 574,243 U.S.Treasurer - General account 483,982 25,590 73,582 30,388 41,003 32,216 44,927 64,862 32,o4o 51,016 25,741 28,o4o 3-4,577 Foreign bank 208,097 14,921 75,256 20,310 19,066 8,911 7,253 24,662 6,217 4,767 6,010 6,010 l4,7l4 Other deposits 366,168 3,743 243,130 8,289 10,539 7,812 6,167 58,675 5,407 3,092 1,004 2,501 15,809 Tokal deposits 9,934,728 450,622 4,977,079 422,864 553,644 271,007 228,896 1,477,360 261,100 176,736 264,7L8 211,359 639,343 Deferred availability items 619,425 65,497 159,178 45,931 67,942 46,733 20,332 82,293 28,254 16,949 31,591 24,460 30,265 Capital paid in 134,032 9,412 50,906 12,214 13,391 4,982 4,474 13,320 3,926 2,904 4,202 3,953 10,348 Surplus (Section 7) 147,739 9,900 51,943 13,466 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 9,805 Surplus (Section 13 b) 27,683 2,874 7,744 4,4ll 1,007 3,409 730 1,429 545 1,001 1,142 1,270 2,121 Reserve for contingencies 32,672 1,448 8,210 2,000 3,176 1,401 1,603 7,035 1,215 1,873 935 1,776 2,000 All other liabilities 11,803 804 4,342 994 971 391 675 1,385 322 445 372 282 820 TOTAL LIABILITIES 15,292,964 923,253 6,270,475 817,719 1,074,516 542,203 410,109 2,586,612 480,865 338,805 474,880 327,815 1,045,712 Contingent liability on bills purchased for foreign correspondents 240 17 86 23 22 10 9 29 7 6 7 7 17 Commitiaents to make industrial advance* 14,328 1,326 3,483 1,448 1,472 1,554 170 58 525 216 562 50 3,464 / MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l to 91 days to 6 months 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years .5 Years Bills discounted 7,081 5,712 227 519 162 437 24 tr - — - Bills bought 547 --- . 264 46 237 — — — — Industrial advances 15,821 1,673 88 1,114 478 1,331 3,778 4,872 2,487 U.S. Governnent securities 2,564,015 95,330 82,358 187,657 193,485 136,859 155,663 398,744 607,337 706,582 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR—283—d. FEDERAL RESERVE NOTE STATEMENT ON NOVEIJBER 30, 1938 (in thousands of dollars) Total Boston New York Phila, Cleve, Rich, Atlanta Chicago St,Louis Minn, Kans«Cy. Dallas San Fran, Federal Reserve notes* Issued to F.R. bank by F.R,agent 4,686,288 400,197 1,108,075 333,319 443,177 220,971 160,442 1,002,950 198,224 140,026 177,815 88,342 412,750 Held by Federal Reserve bank 301,406 17,501 97,002 17,480 23,115 11,655 12,669 21,547 17,388 4,282 9,508 7,519 61,740 In actual circulation -4,384,882 382,696 1,011,073 315,839 420,062 209,316 147,773 981,403 180,836 135,744 168,307 80,823 351,010 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due fron U. S. Treasury 4,757,000 410,000 1,125,000 335,000 445,000 225,000 164,000 1,010,000 207,000 l4l,500 180,000 90,500 424,000 Eligible paper 6,214 74l 2,191 860 164 208 >450 226 295 168 659 72 180 Total collateral 4,763,214 4l0,74l 1,127,191 335,860 445,164 225,208 164,450 1,010,226 207,295 l4l,668 180,659 90,572 424,180 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis