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, May 26 j of the Federal Reserve System not earlier. May 25, 1939 COUDITIOK OF FEDERAL RESERVE BANKS During the week ended May 24 member bank reserve balances increased $92,000,000* Additions to member bank reserves arose from decreases of $20,000,000 in money in circulation, $37,000,000 in Treasury cash and $12,000,000 in Treasury deposits with Federal Reserve banks, and increases of $35,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by an increase of $1-4,000,000 in nonmember deposits and other Federal Reserve accounts. Excess re­ serves of member banks on I.Iay 24 were estimated to be approximately $4,300,000,000, aii increase of $60,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 24, 1939, were as follows i Increase or decrease since May 24, Mav 17, May 25 ■ 1939 193-8 _ (In millions of dollars) „ Bills discounted 4 5 Bills bought 1 - — U. S. Government securities 2,564 —— Industrial advances (not including 12 million commitments - May 24) 13 - 4 Other Reserve bank credit -5 + 2 Total Reserve bank credit 2,576 -1- .. 7 Gold stock 15,927 + 35 +3,022 Treasury currency 2,859 + 2 + 158 Member bank reserve balances 10,097 + 92 +2,381 Money in circulation 6,893 - 20 + 500 Treasury cash 2,646 - 37 + 398 Treasury deposits with P.P., banks 915 - 12 - 268 Uonmember deposits and other F. R, accounts 812 + 14 + 164 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-a Released for publication Friday morning, May 26, 1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 24, May 17, May 25, 1939 ..122? . . 1938 A S S E T S Gold certificates on hand and due from U. S. Treasury 13,282,718 + 59,988 +2,643,301 Redemption fund - F. R. notes 9,372 — + 491 Other cash 382,078 + 16.695 -29,825 Total reserves 13,674,168 + 76,683 +2,613,967 Bills discounted* Secured by U. S. Gov*t obligations, direct or fully guaranteed 2,207 + 539 - 3,454 Other bills discounted 1,848 98 ..-1*152 Total bills discounted 4,055 + Va - 4,613 Bills bought in open narket 561 1 + 27 Industrial advances 12,825 + 29 - 3,946 U. S. Government securities* Bonds 911,090 — +253,837 Treasury notes 1,176,109 — - 15,796 Treasury bills 476,816 --- -238,041 Total U. S. Government securities 2,564,015 --- Total bills and securities 2,581,456 + 469 - 8,532 Due from foreign banks 161 — 25 F. R. notes of other banks 19,807 + 357 620 Uncollected items 593,886 - 89,457 + 66,035 Bank premises 42,523 29 “ 2,172 Other assets ..,_JJLP92 + 921 ....+„J5*M5 T O T A L A S S E T S 16,965,093 - 11,056 +2,674,198 L I A B I L I T I E S F. R. notes 'in actual circulation 4,446,379 - 16,970 +329,504 Deposits* Member bank - reserve account 10,096,62.2 + 91,588 +2,380,270 U. S. Treasurer - General account 915,385 - 11,251 -267,376 Foreign bank 281,541 + 8,582 +148,423 Other deposits 276,227 + 6,310 . + 22,383 Total deposits 11,569,775 + 95,229 +2,283,700 Deferred availability items 599,244 - 89,411 + 64,357 Other liabilities including accrued dividends 4,961 324 149 T O T A L L I A B I L I T I E S 16,620,359 - 11,476 +2,677,412 C A P I T A L A C C O U N T S Capital paid in 134,948 55 + 1,373 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 —— - 419 Other capital accounts 33,370 + 475 — 5*581 TOTAL LIABILITIES AND CAPITAL ACCOTOTS 16,965,093 - 11,056 +2,674,198 Ratio of total reserves to deposit and F. R. note liabilities combined 85.4$ + .1% + 2.9% Contingent liability on bills purchased Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATELIEST OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAI 24, 1939 (In thousands of dollars) A S S E T S Total Boston New Tork Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans,Cy. Dallas San Fran. Gold certificates on hand and due froE U.S. Treasury 13,282,718 739,731 6,415,549 637,756 788,266 345,559 260,353 2,250,489 316,936 245,444 319,482 205,921 757,232 Redemption fund - F.R.notes 9,372 731 1,863 382 982 950 643 586 616 456 277 56l 1,325 Other cash 382,078 29,620 99,890 32,080 26,625 23,027 19,601 52,119 18,330 9,721 17,711 16,667 36,687 Total reserves 13,674,168 770,082 6,517,302 670,218 815,873 369,536 280,597 2,303,194 335,882 255,621 337,470 223,149 795,244 Bills discounted* Secured by U.S.Gov’t obligations, direct or fully guaranteed 2,207 260 1,048 303 73 148 115 40 — 80 31 56 53 Other bills discounted 1,848 87 280 25 43 204 22 35 25 26 445 239 417 Total bills discounted 4,055 347 1,328 328 II6 352 137 75 25 106 476 295 470 Bills bought in open market 561 42 218 57 52 24 20 71 2 2 16 16 41 Industrial advances 12,825 1,694 3,208 2,568 364 1,172 793 456 5 798 218 599 950 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 2,581,456 193,405 726,711 209,860 253,930 135,775 117,372 287,729 124,205 78,750 132,850 103,193 217,676 Due from foreign banks 161 12 61 16 15 7 5 20 2 2 5 5 11 F. R. notes of other banks 19,807 191 3,412 897 1,364 1,899 2,274 2,796 1,900 1,199 1,382 498 1,995 Uncollected items 593,886 56,891 148,137 41,260 69,655 49,094 20,280 86,061 27,146 15,158 30,010 22,049 28,145 Bank premises 42,523 2,926 8,975 4,657 5,955 2,595 2,058 3,927 2,275 1,515 3,196 1,244 3,200 Other assets 53,092 3,451 15,338 4,554 5,795 3,333 2,367 5,321 2,288 1,618 2,485 2,023 4,519 TOTAL ASSETS 16,965,093 1,026,958 7,419,936 931,462 1,152,587 562,239 424,953 2,689,043 493,698 353,863 507,398 352,161 1,050,790 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 24, 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.4,446,379 379,806 1,097,794 316,005 415,687 191,500 148,753 988,423 180,274 135,182 169,835 75,867 347,253 Deposits* Member bank-reserve account 10,096,622 477,827 5,517,012 463,415 529,213 249,484 181,557 1,342,163 219,308 131,684 234,870 183,621 566,468 U.S.Treasurer-General account 915,385 62,092 236,755 46,123 71,269 44,316 44,675 186,349 42,016 49,427 44,674 46,370 41,319 Foreign bank 281,541 20,275 100,422 27,315 26,188 12,108 9,856 34,073 8,166 6,476 8,166 8,166 20,330 Other deposits 276,227 4,879 200,64)0 5,451 11,097 1,699 7,658 4,350 4,909 5,742 8,689 2,097 19,016 Total deposits n,569,775 565,073 6,054,829 542,304 637,767 307,607 243,746 1,566,935 274,399 193,329 296,399 240,254 647,133 Deferred availability items 599,244 57,794 1IS,532 40,427 66,206 48,221 19,700 88,621 28,410 16,126 30,907 24,906 31,394 Other liabilities including accrued dividends 4,9-61 457 1,771 508 465 138 197 472 123 139 281 142 268 TOTAL LIABILITIES 16,620,359 1,003,130 7,300,926 899,244 1,120,125 547,466 412,396 2,644;.,451 483,206 344,776 497,422 341,169 1,026,048 C A P I T A L A C C O U N T S Capital paid in 134,948 9,397 50,856 12,057 13,652 5,074 4,516 13,679 3,983 2,913 4,247 4,010 10,564 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 4,4l6 1,007 3,293 713 1,429 545 1,001 1,14-2 1,266 2,121 Other capital accounts 33,370 1,474 8,234 2,049 3,480 1,423 1,698 6,823 1,279 2,020 974 1,824 2,092 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 16,965,093 1,026,958 7,419,936 931,462 1,152,587 562,239 424,953 2,689,048 493,698 353,863 507,390 352,161 1,050,790 Commitments to make industrial advances 11,635 732 2,263 1,546 1,478 1,042 150 79 598 190 634 — 2,923 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 4,055 2,732 321 36O 159 467 16 —— Bills bought 561 70 — 190 301 — — - — --- Industrial advances 12,825 1,629 147 743 985 1,475 4,253 1,755 1,838 --- U. S. Government securities 2,564,015 75,673 69,520 138,060 150,623 113,406 259,116 349,978 577,294 830,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F!R-28>-d FEDERAL RESERVE KOTE STATEMENT OK LIAY 24, 1939 (ln .thousands of dollars) Total Boston New York Phila. Cleve. Rieh. Atlanta Chicago St.Louis Kinn. Kans.Cy. Dallas San Fran. Federal Reserve notes» Issued to F.R. bank by F.R.agent 4,746,943 402,452 1,191,725 333,058 435,446 205,108 160,247 1,020,188 194,767 139,564 178,716 82,624 403,048 Held by Federal Reserve bank 300,564 22,646 93,931 17,053 19,759 13,608 11,494 31,765 14,493 4,382 8,881 6,757 55,795 In actual circulation 4,446,379 379,806 1,097,794 316,005 415,687 191,500 148,753 98 ,423 130,274 135,182 169,835 75,367 347,253 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from ü. S. Treasury 4,872,500 420,000 1,210,000 345,000 439,500 215,000 169,000 1,035,000 196,000 143,500 If»,000 85,500 434,000 Eligible paper 3,941 332 1,285 303 1*6 352 I32 75 25 96 469 294 462 Total collateral 4,876,441 420,332 1,211,285 345,303 439,616 215,352 169,132 1,035,075 196,025 143,596 180,469 85,794 434,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis