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 14; of the Federal Reserve System not earlier. April 13, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended April 12, member bank reserve balances increased 3210,000,000. Additions to member bank reserves arose from decreases of $f.0,000,000 in money in circulation, $5,000,000 in Treasury cash and $88,000,000 In Treasury deposits with Federal Reserve banks and increases of ¿138,000,000 in gold stock and $4,000,000 in Treasury currency, offset in part by an increase of $44,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on April 12 were estimated to be approximately $3,850,000,000, an increase of $170,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended April 12, 1939, were as follows: Increase or decrease since April 12, April 5, April 13, 1939 1939 1938 (in millions of dollars) Bills discounted 3 — - 10 Bills bought 1 — — U. S. Government securities 2,564 — — Industrial advances (not including 12 million commitments - April 12) 14 -, t „ 3 Other Reserve bank credit 3 — 5 Total Reserve bank credit 2,584 __ 18 Gold stock 15,430 + 138 + 2,605 Treasury currency 2,842 + 4 + 159 Member bank reserve balances 9,528 + 210 + 2,056 Money in circulation 6,835 - 20 + 455 Treasury cash 2,707 - 5 - 835 Treasury deposits with F. R. banks 1,015 - 88 + 874- Nonmember deposits and other F. R. accounts 771 + 44 + 196 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-a Released for publication Friday morning, April 14,1939; not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since April 12, April 5, April 13, 1939. ___ .193.9,. „ 1 938... A S S E T S Gold certificates on hand and due from U, S. Treasury 12,716,719 +144,001 +3,471,717 Redemption fund - F. R. notes 9,444 - 159 + 304 Other cash 376.246 + 15.564 - 75,790 Total reserves 13,102,409 +159,406 +3,396,231 Bills discounted» Secured by U, S. Gov't obligations, direct or fully guaranteed 1,537 + 475 - 8,193 Cther bills discounted 1*526 + 36 - 1.668 Total bills discounted 3,063 + 511 - 9,861 Bills bought in open market 561 + 11 Industrial advances 13,879 - 15 3,008 - U. S. Government securities» Bonds 911,090 +125,502 Treasury notes 1,176,109 + 15,418 Treasury bills 476.816 -140,920 Total U.S. Government securities 2,564,015 Total bills and securities 2,581,518 + 496 - 12,858 Due from foreign banks 161 9 F, R. notes of other banks 21,334 +2,466 + 4,702 Uncollectod items 648,928 +71,921 - 14,568 Bank premises 42,640 2 2,166 - Other assets 50.162 + 1.429 + 2.184 TOTAL ASSETS 16,447,152 +235,716 +3,373,516 L I A B I L I T I E S F, R. notes in actual circulation 4,394,453 - 3,977 +257,647 Deposits? Li ember bank - reserve account 9,527,804 +209,974 +2,055,661 U, S. Treasurer - General account 1,015,034 -87,863 +874,160 Foreign bank 267,432 +35,016 +149,422. Other deposits 247,116 + 9.309 + 48.512 Total de-posits 11,057,386 +166,436 +3,127,755 Deferred availability items 646,270 + 72,331 - 9,571 Other liabilities including accrued dividends ____ 4*686 + 669 - 1,087 TOTAL LIABILITIES 16,102,795 +235,459 +3,374,744 C A P I T A L A C C O U N T S Capital paid in 134,956 + 30 + 1,461 Surplus (Section 7) 149,152 + 1,413 Surplus (Section 13b) 27,264 - 419 Other capital accounts . 32,985 + 227 " 3,683 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,447,152 +235,716 +3,373,516 Ratio of total reserves to deposit and F. R. note liabilities combined 84*8% + 4-. 4% Contingent liability on bills purchased for foreign correspondents - 523 Commitments to make industrial advances 12,016 - 46 966 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR— 28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 12, 1939 (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 12,716,719 750,689 5,927,382 620,703 849,730 351,102 277,065 2,109,512 317,248 237,157 307,508 210,288 758,335 Redemption fund - F.R.notes 9,444 905 1,503 606 693 1,138 260 828 692 483 335 590 1,411 Other cash 376,246 30,243 101,434 29,854 ?6,368 19,585 20,596 51,920 16,632 9,296 17,395 18,542 34,381 Total reserves 13,102,409 781,837 6,030,319 651,163 876,791 371,825 297,921 2,162,260 334,572 246,936 325,238 229,4-20 794,127 Bills discounted: Secured by U.S.Gov’t obligations, direct or fully guaranteed. 1,537 117 476 179 31 70 — 50 — . 20 459 107 28 Other bills discounted 1,526 61 120 — 55 l40 56 40 100 57 367 303 227 Total bills discounted 3,063 178 596 179 86 210 56 90 100 77 826 410 255 Bills bought in open market 561 42 218 57 52 24 20 71 2 2 16 16 41 Industrial advances 13,879 1,797 3,829 2,799 361 1,177 818 458 5 851 215 616 953 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 24,961 21,650 53,395 23,092. 14,476 24,573 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 2,581,518 193,339 726,600 209,942 253,897 135,638 117,316 287,746 124,280 78,774 133,197 103,325 217,464 Due from foreign banks l6l 12 60 16 15 7 5 20 2 2 5 12 F. R. notes of other banks 21,334 607 3,274 1,120 1,256 1,549 2,516 3,416 1,826 978 2,015 479 2,298 Uncollected items 648,928 63,178 155,499 48,087 77,871 51,584 24,391 94,910 30,426 16,528 30,395 24,563 31,496 Bank premises 42,640 2,931 8,9 88 4,667 5,980 2,602 2,066 3,936 2,279 1,515 3,209 1,250 3,217 Other assets 50,162 3,235 13,849 5,016 5,510 3,225 2,2.10 4,956 2,174 1,523 2,331 1,860 4,273 TOTAL ASSETS 16,447,152 1,045,139 6,938,589 920,011 1,221,320 566,430 446,425 2,557,244 495,559 346,256 496,390 360,902 1,052,887 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn FF-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 1,?., 1939 (In thousands of dollars) L I A B I L I T I Total Boston Nev/ York Phi la* Cleve. Rich. Atlanta Chicago St, Louis Minn. Kans.Cy. Dal ias San Fran. F.R.notes in actual circulation -4,394,453 378,818 1,046,244 314,050 418,354 195,571 148,412 985,255 179,393 135,523 168,746 75,984 348,103 Deposits: Member bank-reserve account 9,527,804 450,661 5,102,803 440,247 526,137 254,359 195,4051,243,540 207,685 124,489 234,650 184,556 563,272 U.S.Treasurer-General account 1,015,034 102,231 242,205 55,350 134,035 38,509 46,645 151,591 53,246 48,141 42,775 52,392 47,914 Foreign bank 267,432 19,290 • 95,158 25,988 24,917 11,551 9,377 32,419 7,770 6,162 7,770 7,770 19,290 Other deposits 247,116 7,161 182,057 5,083 8,053 1,777 10,221 2,440 4,879 6,379 727 2,433 15,906 Total deposits 11,057,386 579,343 5,622,223 526,668 693,142 306,166 261,648 1,429,990 273,580 185,171 285,922 247,151 646,382 Deferred availability itens 646,270 62,829 149,786 46,124 76,969 49,814 23,666 97,067 32,015 16,344 31,433 26,678 33,490 Other liabilities including accrued dividends 4,686 363 1,411 930 365 112 163 438 118 156 275 113 192 TOTAL LIABILITIES 16,102,795 1,021,353 6,319,664 387,822 1,183,830 551,663 433,339 2^12,750 435,106 337,194 436,431 349,926 1,028,167 C A P I T A L A C C O U N T S Capital paid in 134,956 9,405 50,888 12,049 13,632 5,075 4,516 13,646 3,970 2,912 4,241 4,011 10,561 Surplus (Section 7) 149,152 10,083 52,463 13,696 14,323 4,933 5,630 22,666 4,685 3,153 3,613 3,892 9,965 Surplus (Section 13b) 27,264 2,874 7,4 57 4,416 1,007 3,293 713 1,429 54 5 1,001 1,142 1,266 2,121 Other capital accounts 32,935 1,424 3,117 2,028 3,4-78 l,4l6 1,677" 6,753 1,253 1,996 963 1,807 2,073 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,447,152 1,045,139 6,938,539 920,011 1,221,320 566,430 446,4-25 2^557,244 495,559 346,256 496,390 360,902 1,052,337 Connitnents to make industrial advances 12,016 7c> 2,510 1,543 1,353 1,082. 151 80 612 191 671 44 2,986 MATURITY DISTRIBUTION OF BILLS AMD 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 3,063 2,007 104 295 301 318 38 — _ Bills bought 561 83 129 206 143 — — --- — Industrial advances 13,879 2,358 174 204 721 2,109 4,604 1,817 1,392 --- U.jS. Government securities 564,015 72,518 91,685 186,113 121,500 75,466 259,116 349,978 577,294 330,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE NOTE STATEMENT OK APRIL 12, 1939 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.-.Cy. Dallas San Fran. Federal Reserve roteo 5 Issued to F,R.bank by F.R.Agent 4,685,403 397,898 1,141,566 331,362 436,167 206,222 161,727 1,019,598 192,442 139,463 177,387 82,660 398,906 Held by Federal Reserve bank 290,950 19,080 95,322 17,312 17,813 10,651 13,315 34,343 13,049 3,945 8,64-1 6,676 50,803 In actual circulation 4,394,453 378,818 1,046,244 314,050 418,354 195,571 148,412 985,255 179,393 135,523 168,746 75,934 348,103 Collateral held by agent as se­ curity for notes issued to banki Qold ct-'-'-tJ. cc.tes on hand and due t-i'o-2 \j. 3. Treasury 4,812,500 420,000 1,155,000 345,000 439,500 210,000 169,000 1,035,000 196,000 143,500 180,000 85,500 4-34,000 Eligible paper 2,862 163 586 179 86 210 24 90 35 37 320 402 230 Total collateral 4,815,362 420,163 1,155,586 345,179 439,586 210,210 169,024- 1,035,090 196,035 143,537 180,820 85,902 434,230 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis