H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, April 7; of the Federal Reserve System not earlier. April 6, 1939 CONDITION OF FEDERAL RESERVE BANKS Daring the week ended April 5 member bank reserve balances increased $193,00^,000. Additions to member bank reserves arose from increases of $132,000,000 in gold stock and $6,000,000 in Reserve bank credit and decreases of $98,000,000 in Treasury deposits with Federal Reserve banks, $10,000,000 in Treasury cash and $35,000,000 in nonmember deposits and other Federal Reserve accounts, offset in port by an increase of $90,000,000 in money in circulation* Excess reserves of member banks on April 5 were estinated to be approximately $3,710,000,000, an increase of $190,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended April 5, 1939, were as follows! Increase or decrease since April 5, March 29, April 6, 1939 1939 1938 (In millions of dollars) Bills discounted 3 -r. 8 Bills bought 1 — — U. S. Govern’?.ent securities 2,564 — — Industrial advances (not including 12 million commitments — April 5) 14 — - 3 Other Reserve bank credit 3 + 7 r r 1 Total Reserve bank credit 2,584 + 6 12 Gold stock 15,292 + 132 + 2,4-89 Treasury currency 2,838 + 1 + 156 Member bank reserve balances 9,318 + 193 + 2,022 Money in circulation 6,855 + 90 + 461 Treasury cash 2,712 - 10 — 842 Treasury deposits with F. R. banks 1,103 - 98 + 859 Nonnenber deposits and other F. R. accounts 727 - 35 + I3A Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forri 'FR—283~a Released for publication Friday norning, April 7,1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Apr, 5, Mar. 29, Apr. 6, 1939 1939 1928 .. A S S E T S Gold certificates on hand and due fron U. S. Treasury 12,572,718 +149,000 +3,350,715 Redemption fund - F. R. notes 9,603 + 1 + 463 Other cash 360,682 -42,948 Total reserves 12,943,003 +106,053 +3,267,005 Bills- discounted* Secured by U. S. Gov't obligations, direct or fully guaranteed 1,062 - 772 - 6,679 Other bills discounted 1,490 + 2. - 2,109 Total bills discounted 2,552 - 770 - 8,788 Bills bought in open market 561 — + 11 Industrial advances 13,894 - Ill - 3,058 U. S. Government securities: Bonds 911,090. — +131,551 Treasury notes 1,176,109 — + 10,418 Treasure bills 476,816 — -141,969 Total U.S. Government securities 2,564,015 — — Total bills and securities 2,581,022 - 881 - 11,835 Due fron foreign banks lol — - 8 F. R. notes of other banks 18,868 v - 630 - 815 Uncollected itens 577,007 -4,821 + 56,737 Bank prenises 42,642 - 40 - 2,153 Other assets J&l32 + 603 + 2,902 TOTAL ASSETS 16,211,436 +100,2,84 +3,311,833 L I A B I L I T I E S F. R. notes in actual circulation 4,398,4-30 + 53,067 + 240,276 Deposits: M'enber bank - reserve account 9,317,830 +192,970 +2,021,490 U, S. Treasurer - General account 1,102,897 - 98,490 + 858,731 Foreign bank 232,4-16 - 9,870 + 110,411 Other deposits 237,807 - 24-,654- + 25,769 Total donosits 10,890,950 + 59,956 +3,016,401 Deferred availability itens 573,939 ~ 12,433 + 56,895 Other liabilities including accrued dividends 4,017 + 88 I QO £ TOTAL LIABILITIES 15,367,336 +100,678 +3,312,758 C A P I T A L A C C O U N T S Capital paid in 134,926 - 105 + 1,628 Surplus (Section 7) 14-9,152 — + 1,4-13 Surplus (Section 13b) 27,264 - 419 — Other capital accounts ..32,75.8 - 2£9 - J3>547 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,211,436 +100,284 +3,311,833 Ratio of total reserves to deposit and F. R. note liabilities conbined 84.7% +.1% + 4-, 3% Contingent liability on bills purchased for foreign correspondents — — - 330 Connitnents to nake industrial advances 12,062 - 585 - 858 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAIIKS ON APRIL 5, 1939 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy,. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 12,572,718 735,758 5,880,406 614,297 837,714 353,914 271,988 2,070,815 307,890 238,557 301,092 210,861 749,426 Redemption fund - F.R.notes 9,603 970 1,74-5 691 789 512 304 957 718 494 356 612 1,455 Other cash 360,682 28,781 97,523 27,236 26,077 18,967 17,806 48,818 15,865 8,727 18,312 17,509 35,061 Total reserves 12,943,003 765,509 5,979,674- 642,224 864,580 373,393 290,098 2,120,590 324,473 247/778 319,760 228,982 785,942 Bills discounted: Secured by U.S.Gov’t obligations, direct or fully guaranteed 1,062 137 395 165 21 70 — 50 — 20 49 102 53 Other bills discounted 1,490 56 90 — ’ 49 169 63 20 100 60 369 322 192 Total bills discounted 2,552 193 485 165 70 239 63 70 100 80 4-18 424 24 5 Bills bought in open market 561 42 218 57 52 24 20 71 2 2 16 16 41 Industrial advances 13,894 1,795 3,830 2,802 361 1,184 818 458 6 855 215 617 953 U. S. Government securities: Bonds 911,090 67,984 256,538 73,522 90,042 47,696 41,369 102,026 44,123 27,660 46,954 36,346 76,830 Treasury notes 1,176,109 87,759 331,160 94-,907 116,233 61,570 53,403 131,706 56,958 35,708 60,613 46,916 99,176 Treasury bills 476,816 35,579 134,259 38,478 47,123 2.4,961 21,650 53,395 23,092 14,476 2.4,573 19,021 40,209 Total U.S.Gov’t securities 2,564,015 191,322 721,957 206,907 253,398 134,227 116,422 287,127 124,173 77,844- 132,140 102,283 216,215 Total bills and securities 2,581,022 193,352 726,490 209,931 253,881 135,674 117,323 287,726 124,281 78,781 132,739 103,340 217,454 Due from foreign banks l6l 12 60 16 15 7 5 20 2 2 5 5 12 F. P.. notes of other banks 18,868 525 2,528 764 983 1,4-96 2,334- 2,859 2,019 1,452 1,812 54-4 1,552 Uncollected items 577,007 56,440 14-1,831 44,845 60,790 46,966 22,732 G5,264 26,928 14,549 c\> CO CO 3 21,173 26,647 Bank premises 42,642 2,931 8,988 4,667 5,980 2,602 2,066 3,936 2,280 1,517 3,209 1,249 3,217 Other assets 48,733 3,185 13,516 4-, 316 5,456 3,156 2,179 4,905 2,147 1,51-4 2,292 1,864 4,203 TOTAL ASSETS 16,211,436 1,021,954 6,873,087 906,763 1,191,685 563,294 436,737 2,505,300 482,130 345,593 450,709 357,1571,039,027 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form KR—283—c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 5, 1939 (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 4,398,430 379,373 1,042,110 313,950 419,185 195,972 149,192 987,433 179,567 135,927 169,707 76,789 349,225 Deposits* Member bank-reserve account 9,317,830 429,651 5,073,377 424,882 510,899 253,799 191,296 1,155,616 193,608 121,077 232,760 181,233 549,132 U.S.Treasurer-General account 1,102,897 108,644 246,575 64,559 136,728 41,276 43,637 201,409 59,464 53,558 3^,695 55,018 53,334 Foreign bank 232,416 16,700 83,279 22,498 21,570 9,973 8,113 28,065 6,726 5,335 6,726 6,726 16,700 Other deposits 237,807 6,900 171,323 4,877 8,333 1,886 9,971 3,001 4,815 6,254 773 2,857 16,817 Total deposits 10,890,950 561,895 5,575,054 516,816 677,530 306,934 253,022 1,383,091 264,613 186,224 278,954 245,834 635,983 Deferred availability items 573,-939 56,416 135,713 43,523 62,163 45,536 21,840 84,906 27,398 14,232 29,833 23,420 28,959 Other liabilities including accrued dividends 4,017 491 1,274 323 348 106 I6l 422 114 147 278 158 195 TOTAL LIABILITIES 15,367,336 998,175 6,754,151 874,612 1,159,226 548,548 424,215 2,460,852 471,692 336,530 473,772 346,201 1,014,362 C A P I T A L A C C O U N T S Capital paid in 134,926 9,405 50,887 12,048 13,682 5,075 4,516 13,646 3,970 2,912 4,241 4,007 10,537 Surplus (Section 7) 149,152 10,083 52,463 13,696 14,323 4,983 5,630 22,666 4,685 3,153 3,613 3,392 9,96 5 Surplus (Section 13b) 27,264 2,874 7,457 4,4l6 1,007 3,293 713 1,429 545 1,001 1,142 1,266 2,121 Other capital accounts 32,758 1,417 8,129 1,991 3,447 1,395 1,663 6,707 1,238 1,997 .941 1,791 2,042 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,211,436 1,021,954 6,873,087 906,763 1,191,685 563,294 436,737 2,505,300 482,130 345,593 483,709 357,157 1,039,027 Commitments to make industrial advances 12,062 799 2,516 1,553 1,359 1,086 151 80 612 191 671 44 3,000 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 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 2,552 1,549 166 251 246 301 39 Bills bought 561 151 69 267 74 Industrial advances 13*394 2,359 182 200 721 1,870 4,594 2,077 1,891 U. S. Government securities 2,564,015 26,500 89,348 192,168 158,680 80,586 259,116 349,978 577,294 830,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-d FEDERAL RESERVE NOTE STATEMENT ON APRIL 5, 1939 (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 Jl,Agent 4,676,299 397,331 1,137,085 332,881 435,909 204,601 158,922 1,020,313 193,326 139,604 177,132 83,281 395,864 Held by Federal Reserve bank 277,369 18,003 94,975 18,931 16,724 8,629 9,730 32,830 13,759 3,677 7,425 6,492 46,639 In actual circulation 4,398,430 379,373 1,042,110 313,950 419,185 195,972 149,192 987,433 179,567 135,927 169,707 76,789 349,22.5 Collateral held by agent as se­ curity for notes issued to bank* Cold certificates on hand and due from U. S. Treasury 4,802,500 420,000 1,145,000 345,000 439,500 210,000 169,000 1,035,000 196,000 143,500 180,000 85,500 434,000 Eligible paper 2,360 I83 485 165 70 239 31 70 35 40 405 4l6 221 Total collateral 4,304-,860 420,183 1,145,485 345,165 439,570 210,239 169,031 1,035,070 196,035 143,540 180,405 85,916 434,221 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis