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, July 7> "the Federal Reserve System not earlier. July 6, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended July 5 member bank reserve balances increased $35*000,000* Additions to member bank reserves arose from decreases of $1142,000,000 in Treasury deposits with Federal Reserve banks and $5*000*000 in nonmember deposits and other Federal Reserve accounts, and increases of 0)43*000,000 in gold stock and $2,000,000 in Reserve bank credit, offset in part by increases of $138,000,000 in money in circulation and $18,000,000 in Treasury cash* Excess reserves of member banks on July 5 were estimated to be approximately $i|., 290, 000,000, an increase of $50,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 5* 1939* wore as follows: Increase or decrease since July 5* June 28, July 6, 1939 1939 1938 (In millions of dollars) Bills discounted 5 3 Bills bought 1 U. S. Government securities 2,551 •» «■ 13 Industrial advance? (not including 11 million commitments - July 5) 12 k Other Reserve bank credit 1 + 3 - 13 Total Rcs&rvo bank credit 2,569 + 2 3k Gold stock 16,136 + 43 + 3*169 Treasury currency 2,880 + 1 + 165 I/i ember brink reserve balances 10,151 + 35 + 2,077 î' one y in circulation 7*100 +138 + 586 Treasury cash 2*577 + 18 + 21k Treasury deposits trith F. banks 820 -II42 + 50 Nonmember deposits and other F.R. accounts 935 - 5 f 311 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Pom FR-283-a Released for publication Friday morning, July 7* 1939» not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 5, June 28, July 6, 1939 1939 1938 A S S E T S Gold certificates on hand and due from U. S# Treasury 13*53^*719 + 29,000 +2*899*792 Redemption fund - F. R. notes 8,iil2 + 99 1,172 - Other cash 317*756 - ¿4.9*601 - 56,658 Total reserves 13*860,887 - 20,502 +2 ¿Sip. >662 Bills discounted: Secured by U#S* Gov’t obligations, direct or fully guaranteed 940 635 mm 3*764 Other bills discounted 3*698 97 + 1+44 Total bills discounted 1*638 732 - 3*320 Bills bought in open market 556 + 19 Industrial advances 12,318 122 - 4*043 U* S* Government securities: Bonds 911,090 - - + 166,985 + Treasury notes 1,176,109 — 11,001+ Treasury bills 463*438 tm mm - 191*367 Total U*S# Government securities 2*550*637 — - 13*378 Total bills and securities 2,568,li|.9 854 - 20,722 Due from foreign banks 167 - 16 F. R. notes of other banks 20,218 + "1*332 - 34 Uncollected items 590,799 + 6,977 + 5*232 Bank premises ¿12,356 49 - 2,221 Other assets 1*7,377 + 659 + 2,5)40 T O T A L A S S E T S 17*129*953 - 12,437 +2,826,Ua L I A B I L I T I E S F, R, notes in actual circulation ¿4,543*177 + 93*871 + 368,308 Deposits: Member bank - reserve account 10,151*053 + 35,309 +2,077,378 U.S. Treasurer - General account 820,208 -1141,886 + 50,015 Foreign bank 297*265 - 53,830 + l62,4oo Other deposits 380,299 + 54,166 + 152,302 Total deposits 11,61)8,825 -106,241 +2,iî42,095 Deferred availability items 590,1+12 + 4,6l4 + 18,788 Other liabilities including acorued dividends 2,181 - 4,485 + 203 T O T A L L I A B I L I T I E S 16,784*595 - 12,241 +2,829,394 C A P I T A L A C C O U N T S Capital paid in 135*053 + 16 + 1,386 Surplus (Section 7) 149*152 mm mm + 1,413 Surplus (Section lj b) 27*264 — - 419 Other or.pital accounts 33*889 212 - 5,333 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,129*953 - 12,437 +2,82ó,Ua Ratio of total reserves to deposit and F.R.note liabilities combined 85*6$ - • 1% + 3-3% Contingent liability on bills purchased for foreign correspondents — - 1,368 Commitments to make industrial advances 10,978 197 - 2,490 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FB-2S3*"b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 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 13,534,719 774,317 6,413,028 671,862 833,772 330,659 283,365 2,276,637 366,682 250,847 336,801 217,811 778,938 Redemption fund - F.R.notes 8,412 548 i,o4c 1,100 692 506 326 1,308 534 418 206 527 1,207 Other cash 317,756 19,127 85,796 26,105 24,381 19,634 18,577 39,304 17,178 8,335 17,530 13,215 28,574 Total reserves 13,860,887 .793,992 6,499,864 699,067 858,845 350,799 302,268 2,317,2^9 384,394 259,600 354,537 231,553 808,719 Bills discounted* Secured by U.S.Gov’t obligations, direct or fully guaranteed 940 104 3! <2 125 33 195 20 mm wm mmmm mm mm 24 67 30 Other bills discounted 3,698 37 1,061 221 2hC 31:7 101 272 17c 63 333 282 563 Total bills discounted 4,638 l4l 1,403 3b6 273 542 121 272 178 63 357 349 593 Bills bought in open market 556 k2 216 56 52 24 20 70 2 2 16 16 4o Industrial advances 12,318 1,617 2,833 2,483 37C 1,154 774 454 4 903 207 575 9bk U.S. Government securities* Bonds 911,090 66,826 269,030 77,376 91,288 5C,Ì!01j 30,373 98,336 41,513 25,626 44,557 34,465 73,296 Treasury notes 1,176,109 86,263 347,285 99,883 117,843 65,065 ' 49,536 126,9li2 53,588 33,082 57,517 44,489 94,616 Treasury bills 463,438 33,992 136,8li6 39,358 46,435 25,639 19,519 50, 020 21,116 13,035 22,664 17,531 37,283 Total U.S.Gov’t securities 2,550,637 187,081 753,161 216,617 255,566 141,108 1C7,1s28 275,298 116,217 71,743 I2lj,738 96,485 205,195 Total bills and securities 2,568,149 188,881 757,613 219,502 256,261 lij2,828 108,343 276,0914 116,401 72,711 125,318 97,1^25 206,772 Due from foreign banks 167 12 63 17 15 7 6 21 2 2 5 5 12 F.R.notes of other banks 20,218 188 3,089 1,200 1,668 1,733 1,823 3,156 1,705 1,467 1,669 634 1,886 Uncollected items 590,799 54,856 156,213 41,473 66,496 51^,374 21,780 77,2ii4 25,947 15,915 29,199 22,306 24,996 Bank premises 1j2,356 2,917 8,942 4,636 5,943 2,583 2,055 3,908 2,260 1,510 3,170 1,233 3,191 Other assets 47,377 2,945 14,302 4,224 5,3co 3,129 l,98ii 4,486 1,886 1,392 2,118 1,730 3,881 TOTAL ASSETS 17,129,953 l,oi:3,79i 7,44c,C86 970,119 1,191',528 555,1+53 438,259 2,682,158 532,6C3 352,597 516,016 354,886 1,049,457 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 JULY 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 1+,51(3,177 338.995 l,llil,>;92 318,i+l+C 1j.18,83C 19^,979 H+9,387 999,789 179,939 1314,510 172,079 77,717 366,52c Deposits: Member bank—reserve account ic,151,053 512,731+ 5,1.88,628 501, C72 565,779 231,571 191,101 1,299,71:1+ 21.8,656 133,811+ 239,1+62 l8l+,573 553,919 U.S.Treasurer-General account 820,208 39,202 137,139 38,877 70,677 1+7,089 1+7,303 206,1+30 52,200 1+8,581+ 1+5,381+ 1+6,1+58 1+0,865 Foreign bank 297,265 21,396 106,121 28,828 27,639 12,779 10,1402 35,961 8,619 6,836 8,619 8,619 21,1+1x6 Other deposits 380,299 i+,952 289,385 10,71+1+ 11,570 1,781+ 7,287 lit, 510 6,351+ 5,239 8,807 2,317 17,350 Total deposits 11,61.! 8,825 578,281+ 6,021,273 579,521 675,665 293,223 256,093 1,556,61)5 315,829 l9l*,l+73 302,272 2l;l,967 633,580 Deferred availability items 590,1+12 52,391 156,71+7 39,686 67,31+2 52,liJ+8 20,067 80,916 26,287 1 i),!£2 31,1+1+9 214,115 2l+,5ls2 Other liabilities including accrued dividends 2,181 250 862 2l+l 161+ 12 91+ 168 37 81+ 19l+ 51 2k TOTAL LIABILITIES 16,7014,595 1,019,92c 7,320,871; 937,888 1,162,001 51+0,662 h23»6la 2,637,518 522, C92 31+3,1+89 505,991+ 31+3,850 l,02l+,666 C A P I T A L A C C O U N T S Capital paid in 135,053 9,1-'03 50,852 12,058 13,663 5,079 ii,529 13,7C9 3,987 2,913 L.,265 i+, 030 10,565 Surplus (Section 7) 110*152 ‘10,083 52,ls63 13,696 l!i,323 l-',983 5,630 22,666 li, 685 3,153 3,613 3,892 9,965 Surplus (Section 13b) 27,261+ 2,87l!- 7,1*57 1j,1‘16 1,007 3,293 713 1,1'29 51+5 1,001 1,1142 1,266 2,121 Other capital accounts 33,889 1,511 8,MiO 2,061 3,53 h 1,1<36 l,7li6 6,836 1,291+ 2, Olil 1,002 1,81+8 2,11+0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,129,953 l,oii3,79l 7,l4lj0,086 970,119 1,19k,528 555,1+53 1+38,259 2,682,158 532,603 352,597 516,016 35l+,886 1,01+9,1+57 Commitments to make industrial advances 10.978 563 2,222 1,553 i,l'-50 999 lliO 63 1+36 67 635 — 2,850 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 i5 Years 5 Years Bills discounted l..,638 1,571 238 183 2,185 I460 1 mmmm mmmm Bills bought 556 233 227 31 65 — - - Industrial advances 12,318 1,713 938 152 51+7 1,709 1,923 2,622 2,711+ U. S. Government securities 2,550,637 72,137 7b,218 170.1+95 127,675 121,589 296,068 270,250 587,860 830,31+5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form PR-283-d FEDERAL RESERVE NOTE STATEMENT ON JULY 5, 1939 (In thousands of dollars) Total Boston Hew 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.agent b*805,166 1+08,277 l,222,Ui9 336,270 1*36,22li 205,555 159,980 1,031,398 191,239 138,687 181,loO 814,521 1*09,1+06 Held by Federal Reserve bank 261,989 19,282 80,1+57 17,830 17,39*! 10,576 10,593 31,609 11,300 ¿¡,177 9,081 6,801+ l£,886 In actual circulation 1+,51*3,177 388,995 1,11*1,992 318,1-1)0 iil8,830 19ii,979 ll?9,387 999,789 179.939 131;,510 172,079 77,717 366,520 Collateral held by agent as se­ curity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 1+,898,500 1+20,000 l,2li0,000 31(5,000 !>37,500 210,000 169,000 1,035,000 196,000 11*3,500 182,000 86,500 b3b,000 Eligible paper 2,1*30 121 51I+ 125 83 14*5 1+0 27 22 16 299 291 1*1*7 Total collateral 1*,900,930 Ij20,121 1,21+0,511+ 31*5,125 1*37,583 210,1)15 169,01+0 1,035,027 196,002 11*3,516 182,299 86,791 1*31*,1*1+7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis