H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fora FR-283 STATEMENT FOR TH- PRESS Released for publication Board of Governors Friday morning, July lit; of the Federal Reserve System not earlier. July 13* 1939 CONDITION OF FEDERAL RESERVE' BANKS . During the week ended July 12 member bank reserve balances increased $199,000,000. Additions to member bank reserves arose from decreases of $59,000,000 in money in circulation, $1+0,000,000 in nonmember deposits and other Federal Reserve accounts, $29,000,000 in Treasury deposits vrith Federal Reserve banks and $25,000,000 in Treasury cash, and from increases of $38*000,000 in gold stock and $5,000,000 in Treasury currency. Excess re­ serves of member banks on July 12 ere estimated to be approximately $ll.,i|.50,000,000, an increase of $160,000,000 for the week. The principal change in holdings of bills and securities was a reduction of $16,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended July 12, 1939* were as follows: Increase or decrease since July 12, July 5* July 15, 1939 1939 1938 (In millions of dollars) Bills discounted 5 •••• - h Bills bought 1 — -- TJ# S. Government securities 2,535 - 16 - 29 Industrial advances (not including 11 million commitments - July 12) 12 — - h Other Reserve bank credit 16 + 15 + 10 Total Reserve bank credit 2,569 - 27 Gold stock 16,171» + 38 +3*195 Treasury currency 2,885 + 5 + 169 Member bank reserve balances 10,350 +199 +2,077 Money in circulation 7*01*1 - 59 + 597 Treasury cash 2,552 - 25 + 237 Treasury deposits with F. R* banks 791 - 29 + 163 Nonmember deposits and other F.R* accounts 895 - Lo + 262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, July ll+, 1939» earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 12, July 5* July 13* 1939 1939 1938 A S S E T S Gold certificates on hand and due from U. S. Treasury 13,6oL,719 +70,000 +2,969,797 Redemption fund - F. R. notes 8,21)2 - 170 - I,6ij2 Other cash 353*161 +35*l+05 - 1+7*966 Total reserves 13*966,122 +105,235 +2,920,187 Bills discounted: Secured by U.S. Gov't obligations, direct or fully guaranteed 1*1+93 + 553 mm i+,512 Other bills discounted 3*773 + 75 + 512 Total bills discounted 5*266 + 628 - l+,000 Bills bought in open market 556 + 16 mm mm Industrial advances 12,1.96 + 178 - 3*778 U. S. Government securities: Bonds 911*090 166,985 + Treasury notes 1,176,109 — 2,001) Treasury bills W (7*938 - 15,500 - 197*867 Total U. S. Government securities 2,535*137 - 15,500 - 28,878 Total bills and securities 2*553*1+55 - ll+,69l+ - 36,61+0 Due from foreign banks 167 «*■» - 13 F. R. notes of other banks 22,563 + 2,31+5 - 2,989 Uncollected items 707*815 +117,016 + 63*725 Bank premises lt2,356 2,222 — Other assets 1+8,235 + 858 + 2,208 T O T A L A S S E T S 17,31+0,713 +210,760 +2,9^256 L I A B I__L I T I E S F. R. notes in actual circulation 1+, 522,709 - 20,1)68 + 388,51+8 Deposits: Member bank - reserve account 10,31+9*9146 +198,893 +2,076,877 U.S. Treasurer - General account 790,596 - 29,612 + 162,668 Foreign bank 289,1+85 - 7*780 + 160,528 Other deposits 31+8,115 - 32,181+ + 105*299 Total deposits 11,778,11:2 +129,317 +2j.505*372 Deferred availability items 692,031 +101,619 514*031 Other liabilities including accrued dividends 2,1i+8 33 - 768 T O T A L L I A B I L I T I E S +210,1^5 +2,9147,183 C A P I T A L A C C O U N T S Capital paid in 135*137 + 81+ + 1*1+31 Surplus (Section 7) 11+9,152 — + 1*1+13 Surplus (Section 13 b) 27*261; - 1419 Other capital accounts 314,130 + 21+1 5*352 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,3140,713 +210,760 +2,9lil+,256 Ratio of total reserves to deposit and F.R. note liabilities combined 85.7# * ,1% + 3.37S + Contingent liabilty on bills purchased for foreign correspondents — m mm - 1*097 Commitments to make industrial advances 11*353 + 395 - 2,11+7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283‘-b' STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON JULY 12, 1939 (In thousands of dollars) A S S E T S Total Boston New York Phi la. Cl sire. Rich. Atlanta Chicago St.Louis. Kinn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 13,6ol+*719 7^6,1420'6*1403,750 671,267 81+0,030 338,52lt 283,601 2,22l+,609 366,521+ 259,331 3140,31+0 218,311+ 801,995 Redemption fund - F.R.notes 8,2l|2 520 1,01+0 1,061+ 692 I465 326 1,257 53l* 1+18 206 513 1,20? Other cash 353,l6l 21,61+1 99*009 28,282 23,803 22,916 21,161+ ¿42,886 17,639 9,000 19,21+5 ll*,707 32,8b7 Total reserves 13*966,122 818,589 6,563,805 700,613 86!+,525 361,905 305,091 2,268,752 38i+,697 268,751 359,791 233,~53k 836,069 Bills discounted: Secured by U.S.Gov't obligations, 70b 281 130 23 19b 20 10 21+ 67 1+0 Other bills discounted 3,773 31 1,003 221 21+0 31*6 101 276 176 61 315 335 668 Total bills discounted 5,266 735 1,281+ 351 263 51*0 121 276 176 71 339 1+02 708 Bills bought in open market 556 ¿|2 216 56 52 21+ 20 70 2 2 16 16 1*0 Industrial advances 12,1+96 1,616 2,80l+ 2,691* 361 1,153 769 bib b 902 207 569 9l*3 U•S• Government securities; Bonds 911*090 66,81+6 268,571* 77,351 91.282 50,501+ 38,1*22 98,375 la,602 25,662 1*1+, 653 31*, 510 73,309 Treasury notes lj,176,109 86*290 31*6.697 99,851 117.835 65,193 ¿*9,598 126,990 53,703 33.129 57,61+3 kb* 5l*8 9l*,632 Treasury bills ¿¿7,938 32.865 132.0Î+5 38,029 1*1+, 879 2l+,830 18,890 1+8,366 20,1+51+ 12,617 21,951* 16,967 36.01*2 Total U*S*Govft securities2 ,535,137 186,001 71*7,316 215.231 253,996 lb 0,527 106,910 273,731 115.759 71.1*08 12l+,250 96-, 025 203,983 Total bills and securities2 ,553,1*55 188,39k 751,620 218,332 25l+,672 lL2,2hb 107,820 27I*,551 115.91*1 72,383 12l+* 812 97,012 205,671+ Due from foreign banks 167 12 63 17 15 7 6 21 2 2 5 5 12 F*R# notes* of other banks 22,563 1*57 ¿i,3l*8 1,357 1,707 1,61+9 1.757 3,399 1,1*23 1,529 1,368 591 2,978 Uncollected items 707,815 70,061+ 181+, 528 51,371 81,633 57,060 22,929 99*908 29,185 20,512 3¿+*253 2l+, 72I+ 31,61+8 Bank premises ¿12,356 2*917 8,91*2 ¿+,636 5,9li3 2,583 2,055 3,908 2,268 1,510 3,170 1,233 3,191 Other assets ¿*8,235 2,998 11*.655 1*,313 5,335 3,202 2,032 1**553 1,9H+ 1,392 2,11+1+ l,7i*8 3,91*9 TOTAL ASSETS 17:,31(0,713 1,083,1+31 7,527,961 980,639 1,213,830 568,650 i+ld,690 2,655,092 535.1*30 366,079 525,51*3 358,81+7 1,083,521 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 12, 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 I).,522,709 386,915 1,130,U 8 317,980 k2l,89k 197,109 152,620 996,352 179,19k 132,561 171,268 76,628 359,770 Deposits : Member bank-reserve account 10,3k9,9k6 531,52¡9 5,591,3k2 501,772 571,006 214,675 185,127 1,316,68k 253,872 138,983 251,321 189,18k 57k,k31 U.S»Treasurer-General account 790,596 Wi*52^ 161,1+97 36,Il72 69,727 k2,kll 5l,76o 151,057 k7,92l 53,7k7 ko,966 k-5,289 k5,225 Foreign bank 289,k85 20,839 103,320 28,077 26,920 12,kk7 10,131 35,02k 8,39k 6,658 8,39k 8,39k 20,887 Other deposits 3l'8,115 5,65k 255,8k5 12,185 11,561 1,807 6,568 10,207 5,2k8 k,938 8,507 l,66k 23,931 Total deposits 11,778, lk2 602,566 6,112,00k 578,506 679,21k 301,3k0 253,586 1,512,972 315,1+35 20k,326 309,188 2kk,531 66k,k7k Deferred availability Items 692,031 69,779 165,659 51,596 79,977 55,391 22,753 100,829 30,229 19,988 3k,837 20,583 3k, Uo Other liabilities including accrued dividends 2, ll-ï-8 291 668 297 180 15 98 185 kl 88 192 55 38 TOTAL LIABILITIES 16,995,0301,059,5517,1(08,7k9 9k8,379 1,181,265 553,855 1+29,057 2,610,338 52k,899 356,963 515,1+85 3k7,797 1, 058,692 C A P I T A L A C C O U H I S Capital paid in 135,137 9,k06 50,85k 12,051 13,669 5,062 k, 53k 13,766 3,989 2,91k k,281 k,032 10,579 Surplus (Section 7) Ik9,l52 10,083 52,1^63 13,696 Ik, 323 k,983 5,630 22,666 k,685 3,153 3,613 3,892 9,965 Surplus (Section 13b) 27,261+ 2,87k 7,li57 k,kl6 1,007 3,293 713 l,k29 5k5 1,001 1,11+2 1,266 2,121 Other capital accounts 3k, 130 1,517 8,k38 2,097 3,566 l,k57 1,756 6,893 1,312 2,01-8 1,022 1,860 2,16k TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,3140,713 l,083,k3i 7,527,961 980,639 1,213,830 568,650 U-1,690 2,655,092 535,k30 360,079 525,5k3 356,8k7 1,083,521 Commitments to make industrial advances 11,353 563 2,211 1,351 l,li6o 972 ll;0 63 k36 67 635 3,k55 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Vi i thin 16 to 31 to 6l to 91 days to 6 t/onths 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 5,266 2,126 150 195 2,271 520 )• Bills bought . 556 3k2 121 23 70 — — — — Industrial advances 12,k96 1,225 913 200 551 1,695 l,9k3 2,603 3,366 — U# S# Government securities 2,535,137 76,055 79,305 l6Ll.il 5 111,163 122,676 296,068 270,250 587,860 830,3k5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2 S3-d FEDERAL RESERVE NOTE STATEMENT ON JULY 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 notes: Issued to F#R#bank by F.R.agent k,835,lkO 1l0?,692 1,235,935 337,120 kk0,83k 209,792 I65,lk9 1,027,770 191,751 138,576 182,102 8k,638 1+13.781 Held by Federal Reserve bank 312, U31 20,777 105,517 19,1^0 18,9k0 12,683 12,529 31, kl8 12,557 6,015 10,83k 8,010 5k,Oil In actual circulation k,522,709 386,915 l,130,kl8 317,980 k21,89k 197,109 152,620 996,352 179,19k 132,561 171,268 76,62 8 359,770 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury k,9k0,000 k20,000 1,265,000 3k5,000 ki’3,000 210,000 169,000 l,0i«5,000 196,000 lk3,500 182,000 87,500 k3k,000 Eligible paper 3,039 715 378 130 73 kk3 39 31 20 25 280 3k3 562 Total collateral k,9k3,039 !i20,715 1,265,378 3k5,130 kk3,073 210,kk3 169,039 l,0k5,03l 196,020 Ik3,525 182,280 87,8k3 k3k,562 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis