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 21; of the Federal Reserve System not earlier. April 20, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended April l£ member bank reserve balances increased $215,000,000. Additions to member bank reserves arose froro decreases of $64,000,000 in Treasury deposits with Federal Reserve banks and $6,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $175,000,000 in gold stock, $7,000,000 in Reserve bank credit and $2,000,000 in Treasury currency, offset in part by increases of $23,000,000 in money in circu­ lation and $16,000,000 in Treasury cash. Excess reserves of member banks on Aoril 19 were estimated to be approximately $4,000,000,000, an increase of ■ $120,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended April 19, 1939, were as follows* Increase or decrease since April 19, April 12, April 20, .. 19J9_ ...1919_ 1938 (In millions of dollars) Bills discounted 3 . .. 7 Bills bought 1 — — U, S. Government securities 2,564 — — Industrial advances (not including 12 million commitments - April 19) 13 - 1 — 4 Other Reserve bank credit 10 + 7 4- 18 Total Reserve bank credit 2,591 + 7 + 8 Gold stock 15,605 +175 +2,764 Treasury currency 2,844 + 2 + 156 Member bank reserve balances 9,743 +215 +2,196 Money in circulation 6,858 + 23 + 497 Treasury cash 2,723 + 16 + 559 Treasury deposits with F. R. banks 951 - 64 - 477 Nonnember deposits and other F. R. accounts 765 - 6 + 153 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, April 21,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since April 19, April 12, April 20, 1939 ....19J9 ..-193.8_1 A S S E T S Gold certificates on hand and due from U. S. Treasury 12,876,718 +159,999 +2,234,305 Redemption fund - F.R, notes 8,785 - 659 - 75 Other cash 381,058 + 4,812 -71,754 Total reserves 13,266,561 +164,152 +2,162,476 Bills discounted! Secured by U. S. Gov’t obligations, direct or fully guaranteed 1,229 - 308 ~ 5*243 Other bills discounted 1,606 + 80 - 1,462 Total bills discounted 2,835 - 228 - 6,705 Bills bought in open market 560 1 + 10 Industrial advances 13,478 - 4oi - 3,578 U. S, Government securities! Bonds 911,090 — +233,259 Treasury notes 1,176,109 — - 3,062 Treasury bills 476,816 — -230,197 Total U.S. Government securities 2,564,015 — — Total bills and securities 2,580,888 « 630 - 10,273 Due from foreign banks 162 + 1 - 8 F. R. notes of other banks 19,613 -1,721 - 339 Uncollected items 672,694 +23,766 + 94,430 Bank premises 42,633 - 7 - 2,171 Other assets 49,104 - 1,058 + 4,704 TOTAL ASSETS 16,631,655 +184,503 +2,248,819 L I A B I L I T I E S F. R. notes in actual circulation 4,417,8.22 + 23,369 + 297,024 Deposits! Member bank — reserve account 9,742,839 +215,035 +2,195,763 U. S. Treasurer - General account 950,876 - 64,158 - 476,842 Foreign baric 222,716 - 44,716 + 87,230 Other deposit3 285,975 + 38,859 + 72,763 Total deposits 11,202,406 +145,020 +1,878,914 Deferred availability items 663,169 + 16,899 + 76,813 Other liabilities including accrued dividends 4,153 - 460 TOTAL LIABILITIES 16,287,550 +184,755 +2,252,291 C A P I T A L A C C O U N T S Capital paid in 134,971 + 15 + 1,482 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 — 419 Other capital accounts 32,718 - 267 - 5,948 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,631,655 +184,503 +2,248,819 Ratio of total reserves to deposit and F.R. note liabilities combined 84.9% + ,1% + 2.3% Contingent liability on bills purchased for foreign correspondents —— —— - 1,103 Commitments to make industrial advances 11,659 - 357 - 1,166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 19, 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 12,876,718 740,731 6,145,223 622,996 825,545 323,944 264,402 2,117,887 311,736 213,760 300,203 200,030 810,261 Redemption fund - F.R. notes 8,785 871 1,376 558 648 833 240 788 683 • 477 326 585 1,400 Other cash 381,058 28,723 98,812 31,570 26,159 23,518 23,181 50,645 16,809 9,135 19,255 17,615 35,636 Total reserves 13,266,561 770,325 6,245,411 655,124 852,352 348,295 287,823 2,169,320 329,228 223,372 319,784 218,230 847,297 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 1,229 87 477 223 141 75 65 20 34 79 28 Other bills discounted 1,606 71 120 60 150 17 39 85 67 390 303 304 Total bills discounted 2,835 158 597 223 201 225 17 104 85 87 424 382 332 Bills bought in open market 56O 42 217 57 52 24 20 71 2 2 16 16 41 Industrial advances 13,473 1,785 3,473 2,784 359 1,176 817 458 5 843 214 612 952 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 s e curitie s 2,580,888 193,307 726,244 209,971 254,010 135,652 117,276 287,760 124,26$ 78,776 132,794 103,293 217,540 Due from foreign banks 162 12 62 16 15 7 5 20 2 2 5 5 11 F. R. notes of other banks 19,613 710 3,646 860 1,194 1,753 1,805 3,332 1,543 1,133 1,289 575 1,773 Uncollected items 672,694 61,281 177,061 52,225 74,647 53,893 24,748 89,202 31,027 16,701 33,836 25,849 32,224 Bank premises 42,633 2,931 8,988 4,667 5,981 2,602 2,065 3,936 2,280 1,515 3,209 1,250 3,209 Other assets 49,104 3,162 13,976 4,311 5,433 3,158 2,181 4,911 2,137 1,505 2,289 1,843 4,198 TOTAL ASSETS 16,631,655 1,031,728 7,175,388 927,174 1,193,632 545,360 435,903 2,558,481 490,482 323,004 493,206 351,045 1,106,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—233—c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 19, 1939 (In thousands of dollars) A B I L I S S Total Boston New York Phila. deve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,417,822 379,862 1,072,573 312,642 416,892 193,586 148,851 987,567 179,221 135,173 168,509 76,049 346,897 Deposits: Member bank-reserve account 9,742,839 460,1105,287,267 458,406 529,627 241,473 186,417 1,297,551 210,789 108,807 226,560 178,830 556,942 U.S.Treasurer-C-eneral account 950,876 82,596 234,971 44,405 115,609 30,563 46,640 105,802 46,087 41,545 46,383 45,916 110,359 Fbreign bank 222,716 15,955 80,232 21,494 20,608 9,528 7,756 26,813 6,426 5,097 6,426 6,426 15,955 Other deposits 285,975 7,596 213,006 6,249 9,037 2,336 10,252 5,083 5,060 6,330 1,037 2,809 17,180 Total deposits 11,202,406 566,257 5,815,476 530,554 674,881 283,900 251,065 1,435,249 268,362 161,839 280,406 233,981 700,436 Deferred availability iteras 663,169 61,447 166,992 51,474 69,015 53,012 23,296 90,740 32,347 16,786 34,081 29,941 34,038 Other liabilities including accrued dividends 4,153 376 1,4-24 350 381 117 168 454 123 160 278 117 205 TOTAL LIABILITIES 16,287,550 1,007,942 7,056,465 895,020 1,161,169 530,615 423,380 2,514,010 480,053 313,958 403,274 340,088 1,081,576 C A P I T A L A C C O U N T S Capital paid in 134,971 9,405 50,895 12,049 13,683 5,075 4,516 13,649 3,970 2,912 4,245 4,011 10,561 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 3,892 9,965 Surplus (Section 13b) 27,264 2,874 7,457 4,416 1,007 3,293 713 1,429 545 1,001 1,142 1,266 2,121 Other capital accounts 32,718 1,424 8,108 1,993 3,450 1,394 1,664 6,727 1,229 1,980 932 1,788 2,029 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,631,655 1,031,728 7,175,388 927,174 1,193,632 545,360 435,903 2,558,481 490,482 323,004 493,206 351,045 1,106,252 Commitments to make industrial advances 11,659 759 2,304 1,543 1,351 1,057 151 73 599 191 664 2,967 MATURITY DISTRIBUTION OF BILIA 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 2,835 1,561 286 265 319 41 Bills bought 560 129 203 69 Industrial advances 13,478 2,044 109 249 704 2,176 4,583 1,729 1,884 U. S. Government securities 2,564,015 85,848 84,355 153,613 123,000 100,466 259,116 349,978 577,294 830,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-à FEDERAL RESERVE NOTE STATELIEHT OH APRIL 19, 1939 (in thousands of dollars) Total Boston Hew York Phila. Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cyv Dallas San Fran. Federal Reserve notes* Issued to F.R.bank by F.R.agent 4,723,84-1 403,214 1,178,429 328,924 436,803 205,167 161,332 1,019,762 194,113 139,044 176,443 82,919 397,691 Held by Federal Reserve bank 306,019 23,352 105,856 16,282 19,911 11,581 12,481 32,195 14,892 3,871 7,934 6,870 50,794 In actual circulation 4,4-17,822 379,862 1,072,573 312,642 416,892 193,586 148,851 987,567 179,221 135,173 168,509 76,049 346,897 Collateral held, by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,847,500 420,000 1,190,000 345,000 439,500 210,000 169,000 1,035,000 196,000 143,500 180,000 85,500 434,000 Eligible paper 2,667 143 590 223 201 225 3 104 35 37 4-19 375 312 Total collateral 4,850,167 420,143 1,190,590 345,223 439,701 210,225 169,003 1,035,104 196,035 143,537 180,419 85,875 434,312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis