H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR—283 STATEMENT TOR THE PRESS Released for publication Board of Governors Friday morning, Aug, 11; of the Federal Reserve System not earlier, August 10, 1939. CONDITION OF FEDERAL RESERVE BAIÏKS During the week ended August 9 member bank reserve balances increased $96,000,000. Additions to member bank reserves arose from increases of $22,000,000 in gold stock and $2,000,000 in Treasury currency, and decreases of $19,000,000 in Treasury deposits with Federal Reserve banks, $16,000,000 in Treasury cash and $66,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $14,000,000 in Reserve bank credit and an increase of $16,000,000 in money in circulation. Excess reserves of member banks on August 9 were estimated to be approximately $4,530,000,000, an increase of $70,000,000 for the week. The principal change in holdings of bills and securities was a reduction of $10,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended August 9, 1939, were as follows» Increase or decrease since Aug. 9, Aug. 2, Aug. 10, 1939 1939 1938 (in millions of dollars) Bills discounted 5 — - 2 Bills bought 1 — — U. S. Government securities 2,443 - 10 - 121 Industrial advances (not including 11 million commitments - August 9) 12 — 4 Other Reserve bank credit 2 - 4 + 7 Total Reserve bank credit 2,462 - 14 120 Gold stock 16,270 + 22 + 3,237 Treasury currency 2,897 + 2 + 174 Member bank reserve balances 10,509 + 96 + 2,463 Money in circulation 7,070 + 16 + 604 Treasury oaeh 2,354 - 16 - 13 Treasury deposits with F. R, banks 844 - 19 + 5 Nomuember deposits and other F. R. accounts 853 - 66 + 232 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Aug. 11,1939? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease sine« Aug. 9, Aug. 2, Aug. 10, 1939 1939 1938... A S S E T S Gold certificates on hand and due from U. S. Treasury 13,914,220 + 44,998 +3;,281,313 Redemption fund - F. R. notes 8,594 507 86 Other cash 348,919 586 — 45,166 Total reserves 14,271,733 + 43,905 +3,236,061 Bills discounted! Secured by U.S. Gov’t obligations, direct or fully guaranteed 1,400 + 327 2,375 Other bills discounted JL518 69 + 419 Total bills discounted 4,918 + 258 - 1,956 Bills bought in open market 545 — + 5 Industrial advances 11,665 81 4,300 — U. S. Government securities! Bonds 911,090 — + 166,985 Treasury notes 1,176,109 — . - 20,079 Treasury bills J1ÎS715 - 10,505 - 2.68,007 Total U.S. Government securities 2,442,914 - 10,505 — 121,101 Total bills and securities 2,460,04-2 - 10,328 - 127,352 Due from foreign banks 178 — 2 - F. R. notes of other banks 22,715 + 585 - 872. Uncollected items 582,733 - 66,093 + 75,105 Bank premises 42,259 - 2,227 — Other assets 49,918 + 792 - 756 T O T A L A S S E T S 17,429,578 - 31,139 +3,179,957 L I A B I L I T I E S F. R. notes in actual, circulation 4,550,689 .+ 19,974 + 415,033 Deposits 1 Member bank - reserve account 10,509,003 + 96,120 +2,463,478 U.S. Treasurer - General account 844,268 - 19,194 + 5,44S Foreign bank 307,298 - 3,838 + 190,031 Other deposits 289,237 - 61,943 + 41.812 Total deposits 11,949,806 + 11,145 +2,700,769 Deferred availability items 580,483 - 62,463 + 67,260 Other liabilities including accrued dividends 2,806 JL2 - ____n T O T A L L I A B I L I T I E S 17,083,784 - 31,417 +3,183,051 C A P I T A L A C C O U N T S Capital paid in 135,428 + 20 + 1,599 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 — - 419 Other capital accounts ___ 21i950 + 258 — 5,687 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,429,578 “ 31,139 +3,179,957 Ratio of total reserves to deposit and F. R. note liabilities combined 86. + •1% + 4.156 Contingent liability on bills purchased for foreign correspondents — - 704 Commitments to make industrial advances 11,337 - 66 - 2,430 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 AUGUST 9, 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,1 Dallas San Fran, Gold certificates on hand and due from ü. S. Treasury 13,914,220 813,032 6,536,417 697,730 864,610 350,717 316,217 2,287,641 367,940 263,013 384,812 224,474 807,617 redemption fund - F.R.notes 8,594 403 1,560 937 505 757 227 1,037 474 392 664 496 1,142 Other cash 340,919 22,233 94,895 28,229 23,181 22,658 22,433 43,663 17,563 9,219 18,446 15,365 31,034 Total reserves 14,?71 ,7^ 835,668 6,632,872 726,896 888,296 374,132 338,877 2,332,341 385,977 272,624 403,922 240,335 839,793 Bills discounted» Secured by U.S.Gov’t obligations, direct or fully guaranteed 1,400 115 56 2 84 98 . 341 30 27 — 10 — 88 45 Other bills discounted 3,518 14 901 196 237 307 119 245 166 78 285 380 590 Total bills discounted 4,918 129 1,463 280 335 648 149 272 166 88 285 468 635 .Bills bought in open market 545 41 212 55 51 23 19 69 2 2 16 16 39 Industrial advances 11,665 1,687 2,063 2,702 365 1,144 758 38O 4 852 205 563 942 U. S. Government securities* Bonds 911,090 66,975 265,741 77,196 91,245 51,119 38,721 98,610 42,158 25,889 45,255 34,794 73,387 Treasury notes 1, ,176,109 86,454 343,042 99,651 117,788 65,987 49,984 127,293 54,420 33,419 58,421 44,914 94,736 Treasury bills 355,715 26,149 103,753 _ 30,139 35,625 19,958 15.118 _ 38*500 16,460 10,108 17,669 13.584 28.652 Total U.S. Gov’t securities 2,,442,914 179,578 ‘712,536 206,986 244,658 137,064 103,823 264,403 113,038 69,416 121,345 93,292 196,775 Total bills and securities 2.,460,042 181,435 716,274 210,023 245,409 138,879 104,749 265,124 113,210 70,358 121,851 94,339 198,391 Due from foreign banks 178 13 67 18 17 8 6 22 2 2 5 5 13 F. R. notes of other banks 22,715 412 4,253 1,001 1,207 1,331 1,705 3,084 1,746 1,123 1,810 588 4,455 Uncollected items 582,733 56,733 150,967 46,099 62,889 46,526 20,438 81,114 24,435 15,811 28,586 19,724 29,411 Bank premises 42,259 2,912 8,926 4,625 5,931 2,576 2,051 3,899 2,264 1,508 3,157 1,227 3,183 Other assets 49,918 3,166 14,933 4,382 5.486 3,273 2,147 4,806 2,030 1,452 2,262 1,857 4,124 TOTAL ASSETS 17,429,578 1,080,339 7,528,292 993,044 1,209,235 566,725 469,973 2,690,390 529,664 362,878 561,593 358,075 1,079,370 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 AUGUST 9, 1939 (In thousands of dollars) L I A B I Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,550,689 389,922 1,128,559 319,254 426,293 201,190 153,667 1,008,616 179,710 132,094 173,791 77,239 360,354 Member bank-reserve account 10,509,003 516,889 5,588,171 518,562 570,745 259,969 214,855 1,407,993 254,518 142,088 262,875 194,782 577,556 U.S.Treasurer-General account 844,268 64,629 254,813 34,667 76,030 30,906 50,709 87,926 44,169 50,339 65,838 42,314 41,928 Foreign bank 307,298 22,075 110,102 29,742 28,515 13,184 10,732 37,101 8,892 7,052 8,892 8,892 22,119 Other deposits 289,237 5,531 191,454 7,866 11,726 1,717 6,831 20,602 6,034 5,819 8,434 1,773 21,450 Total deposits 11,949,806 609,124 6,144,540 590,837 687,016 305,776 283,127 1,553,622 313,613 205,298 346,039 247,761 663,053 Deferred availability items 580,483 57,094 135,007 50,335 63,071 44,869 20,405 83,137 25,743 16,275 31,522 21,958 31,067 Other liabilities including accrued dividends 2,806 325 963 309 247 47 123 259 63 107 194 75 94 TOTAL LIABILITIES 17,083,784 1,056,465 7,409,069 960,735 1,176,627 551,882 457,322 2,645,634 519,129 353,774 551,546 347,033 1,054,568 C A P I T A L A C C O U N T S Capital paid in 135,428 9,407 50,878 12,115 13,742 5,115 4,554 13,806 3,993 2,914 4,289 4,041 10,574 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 1,142 1,266 2,12.1 Other capital accounts 33,950 1,510 8,425 2,082 3,536 1,452 1,754 6,855 1,312 2,036 1,003 1,843 2,142 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,429,578 1,080,339 7,528,292 993,044 1,209,235 566,725 469,973 2,690,390 529,664 362,878 561,593 358,075 1,079,370 Commitments to make industrial advances 11,337 535 2,172 1,343 1,454 937 139 46 430 64 618 3,599 MATURITY DISTRIBUTION OF BILLS 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 4,918 1,708 218 2,337 331 324 Bills bought 545 6 120 33 386 Industrial advances 11,665 1,218 76 562 371 1,934 2,437 2,528 2,539 U. S. Government securities 2,442,914 83,790 77,625 111,163 49,137 136,676 296,068 326,575 531,535 830,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283—d. FEDERAL RESERVE HOTE STATEMENT ON AUGUST 9, 1939 (In thousands of dollars) Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notesi Issued to F.R.bank by F.R.agent 4,841,728 407,049 1,228,269 337,127 442,460 212,387 164,594 1,037,623 193,210 137,953 183,759 84,544 412,753 Held by Federal Reserve bank 291,039 17,127 99,710 17,873 16,167 11,197 10,927 29,007 13,500 5,859 9,968 7,305 52,399 In actual circulation 4,550,689 389,922 1,128,559 319,254 426,293 201,190 153,667 1,008,616 179,710 132,094 173,791 77,239 360,354 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from U.S. Treasury 4,929,500 420,000 1,248,000 345,000 445,000 215,000 169,000 1,045,000 196,000 139,500 185,000 88,000 434,000 Eligible paper 2,251 124 594 84 146 561 — — 10 16 226 — 490 Total collateral 4,931,751 420,124 1,248,594 345,084 445,146 215,561 169,000 1,045,000 196,010 139,516 185,226 88,000 434,490 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis