H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fors FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, June 16 j of the Federal Reserve System not earlier. June 15, 1939 CONDITION OF FEDERAL RESERVE BAMS During the week ended June 14- member bank reserve balances increased $48,000,000« Additions to member bank reserves arose from decreases of $50,000,000 in money in circulation and $7,000,000 in Treasury deposits with Federal Reserve banks and increases of $29,000,000 in Reserve bank credit, $40,000,000 in gold stock and $4,000,000 in Treasury currency, offset in part by an increase of $84,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on Juno 14 were estimated to be approximately $4,2.60,000,000, a decrease of $20,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 14, 1939, were as follows» Increase or decrease since June 14, June 7, June 15, 1939 1939 1938 (in millions of dollars') Bills discounted 3 — 6 Bills bought 1 — — U. S. Government securities 2,564 — Industrial advances (not including 11 million commitments - June 14) 12 r -, - 5 Other Reserve bank credit 25 + 29 + 18 Total Reserve bank credit 2,605 + 29 + 7 Gold stock 16,027 + 40 +3,077 Treasury currency 2,868 + 4 + l6l Member bank reserve balances 10,101 + 48 +2,197 Money in circulation 6,936 - 50 + 516 Treasury cash 2,570 - 1 + 281 Treasury deposits with F. R. banks 928 - 7 7 Nonmember deposits and other F. R. accounts 967 + 84 + 2.62 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR— 28>*a Released for publication Friday aorning, June 16,1939; not earlier. STATEMENT OF CONDITION OF THE TlffiLVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since June 14, June 7, June 15. 1939 1939. .. 1913 ‘ A S S E T S Gold certificates on hand and due from TJ. S. Treasury 13,420,719 + 29,000 +2,783,318 Redemption fund - F. R. notes 9,467 + 194 + 303 Other cash 375.874 + 25,998 — 25,452 Total reserves 13,806,060 + 55,192 +2,758,169 Bills discounted! Securcd by U.S. Gov't obligations, direct or fully guaranteed 1,447 361 4,545 Other bills discounted .1,690 + -2i — 1,714 Total bills discounted 3,137 Bills bought in open market Industrial advances U. S. Government securities* Bonds Treasury notes Treasury bills Total U.S. Government securities Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets T O T A L A S S E T S L I A B I L I T I E S F. R. notes in actual circulation Deposits« Llember bank - reserve account U. S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends T O T A L L I A B I L I T I E S C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F, R, note liabilities combined Contingent liability on bills purchased for foreign correspondents Commitments to make industrial advances I O - 6,259 56l — + 24 12,469 + 40 — 4,166 911,090 — + 166,985 1,176,109 — + 44,056 476.816 — - 211,041 2,564,015 — — 2,580,182 290 10,401 162 + 1 - 21 21,684 + 2,072 425 762,610 +182,755 + 79,701 42,452 1 2,205 61.182 + 4,192 + 19,657 17,274,332 +243,921 +2,844,475 4,437,703 - 38,607 + 314,601 10,100,929 + 48,286 +2,196,679 927,989 - 6,975 — 6,898 351,029 + 41,429 + 211,542 3.62,444 + 42x0.02 + 64,865 .... 11,743,391 +125,743 +2,466,188 737,472 +153,265 + 61,535 + 3,507 + _._A,621 16,928,900 +243,908 +2,846,959 134,969 + 16 + 1,418 149,152 — + 1,413 27,264 — _ 419 34,047 . .1 4,896 17,274,332 +243,921 +2,844,475 85.3% - .1% + 2.9% — — - 1,840 11,388 - 85 - 2,250 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR“283“b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BASKS ON JUNE 14, 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 13,420,719 746,654 6,355,910 660,860 831,626 353,172 272,927 2,256,503 366,660 255,689 320,671 225,263 774,784 Redemption fund — F.R.notes 9,467 623 1,473 1,234 843 1,231 575 421 575 438 244 540 1,270 Other cash 375,874 26,114 99,233 28,533 26,861 23,568 21,746 50,828 20,280 10,189 20,191 15,549 32,782 Total reserves l?.806y060 773,391 6,456,616 690,627 859,330 377,971 295,248 2,307,752 387,515 266,316 341,106 241,352 808,836 Bills discounted« Secured by U.S.Gov*t obligations, direct or fully guaranteed 1,447 320 377 195 63 145 85 57 — 3 2.4 85 93 Other bills discounted 1,690 87 234 25 42 210 20 33 25 28 414 219 353 Total bills discounted 3,137 407 611 220 105 355 105 90 25 31 438 304 446 Bills bought in open market 561 42 218 57 52 24 20 71 2 2 16 16 41 Industrial advances 12,469 1,752 2,882 2,511 370 1,170 782 455 4 785 221 593 944 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 2T564,015 191,322 721,957 206,907 253,398 134,227 116,422 .287,127 124,173 77,844 132,1/0 102,283 216,215 Total bills and securities 2,580.182 193,523 725,668 209,695 253,925 135,776 117,329 287,743 124,204 78,662 132,815 103,196 217,646 Due from foreign banks 162 12 61 16 15 7 6 20 2 2 5 5 11 F.R. notes of other banks 21,684 363 4,099 656 1,426 1,560 2,023 3,120 2,320 1,268 1,147 527 3,175 Uncollected items 762,610 76,218 201,581 42,043 90,186 59,970 26,485 111,353 35,095 20,243 36,221 25,759 37,456 Bank premises 42,452 2,922 8,959 4,646 5,955 2,589 2,058 3,917 2,273 1,512 3,183 1,238 3,200 Other assets 61,182 3,659 16,492 9,533 6,093 3,512 2,502 5,647 2,422 1,727 2,663 2,141 4,791 TOTAL ASSETS 17,274,332 1,050,088 7,413,476 957,216 1,2.16,930 581,385 445,651 2,719,552 553,831 369,730 517,140 374,218 1,075,115 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAITKS OK JUNE 14, 1939 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rida. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 437,703 380,527 1,091,572 316,760 414,302 193,454 147,761 983,254 179,447 133,588 170,054 75,723 351,261 Deposits: Member bank-reserve account 100,929 488,735 5,405,327 478,179 558,897 247,917 189,765 1,333,091 258,286 142,650 239,553 190,362 568,167 U.S.Treasurer-General account 927,989 52,783 209,580 43,112 80,347 49,558 48,082 198,463 54,327 49,192 41,757 56,701 44,087 Foreign bank 351,029 25,213 126,570 33,207 32,567 15,058 12,256 42,372 10,155 8,054 10,155 10,155 25,267 Other deposits 363,444- 6,462 275,626 5,696 11,312 3,539 9,291 6,306 5,475 6,660 8,913 2,037 22,127 Total deposits 11,743,391 573,193 6,017,103 560,194 683,123 316,072 259,394 1,580,232 328,243 206,556 300,378 259,255 659,648 Deferred availability items 737,472 71,993 183,634 42,715 86,404 56,886 2.5,666 110,839 35,469 20,309 36,378 28,053 39,126 Other liabilities including dividends 10,334 494 1,965 5,320 516 I60 211 592 139 155 320 156 306 TOTAL LIABILITIES 16,928,900 1,026,207 7,294,274 924,989 1,184,345 566,572 433,032 2,674,917 543,298 360,608 507,130 363,187 1,050,341 C C A P I T A L A 0 C 0 U N T OS Capital paid in 134,969 9,397 50,844 12,057 13,654 5,075 4,523 13,696 3,984 2,912 4,255 4,006 10,566 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 9,96 5 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 34,047 1,527 8,438 2,058 3,601 1,462 1,753 6,844 1,319 2,056 1,000 1,867 2,122 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,274,332 1,050,088 7,413,476 957,216 1,216,930 581,385 445,651 2,719,552 553,831 369,730 517,140 374,218 1,075,115 Commitments to make industrial advances 11,388 577 2,253 1,555 1,465 1,028 150 79 585 189 634 — 22,873 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within l6 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 3,137 2,052 190 244 150 497 4 -------- — Bills bought 561 — 90 443 28 — — --- --- — Industrial advances 12,469 1,352 621 1,032 198 1,514 4,142 1,752 1,858 — U. S. Government securities 2,564,015 80,428 54,413 155,360 161,415 95,666 259,116 349,978 577,294 830,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE NOTE STATEMENT OK JUIIE 1/, 1939 (In thousands of dollarr) Total coston 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.a-ent 4,727,517 397,587 1,137,390 331,695 ¿32,024 204,827 158,704 1,018,653 192,288 137,750 170,914 82,866 404,8]9 Held by Federal Reserve bank 289,814 17,060 95,818 14,935 17,722. 11,373 10,943 35,399 12,841 4,162 8,360 7,143 53,558 In actual circulation 4,437,703 330,527 1,091,572 316,760 414,302 193,454 147,761 983,254 179,447 133,588 170,054 75,723 351,261 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from TJ. S.Treasury 4,865,500 420,000 1,210,000 345,000 435,500 210,000 169,000 1,035,000 196,000 143,500 182,000 05,500 434,000 Eligible paper 3,064 387 605 195 105 355 99 90 25 19 438 304 ' 4/2 Total collateral 4,868,564 420,387 1,210,605 345,195 435,605 210,355 169,099 1,035,090 196,025 143,519 182,430 05,204 434,442 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis