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, Aug, 18; of the Federal Reserve System not earlier, August 17, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended August 16 member bank reserve balances increased $124,000,000, Additions to member bank reserves arose from increases of $65,000,000 in gold stock and $3,000,000 in Treasury currency and decreases of $68,000,000 in Treasury deposits with Federal Reserve banks and $32,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $9,000,000 in Reserve bank credit and Increases of $21,000,000 in money in cir­ culation and $12,000,000 in Treasury cash. Excess reserves of member banks on August 16 were estimated to be approximately $4,590,000,000, an increase of $60,000,000 for the week. Hie principal change in holdings of bills and securities was a reduction of $20,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended August 16, 1939, were as follows: Increase or decrease since Aug, 16, Aug. 9, Aug. 17, 1939 1939 1938 (in millions of dollars) Bills discounted 5 — - 2 Bills bought 1 — U. S. Government securities 2,423 - 20 141 — Industrial, advances (not including 11 million commitments - August 16) 12 . — 4 Other Reserve bank credit 13 + 11 + 13 Total Reserve bank credit 2,453 - 9 134 Gold stock 16,335 + 65 +3,283 Treasury currency 2,900 + 3 + 176 Member bank reserve balances 10,633 + 124 +2,548 Money in circulation 7,091 + 21 + 606 Treasury cash 2,366 + 12 - 20 Treat.’.try deposits with F. R. banks 776 - 68 - 26 Nonmember deposits and other F.R. accounts 821 “ 32 + 216 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-203-a Released for publication Friday morning, Aug. 18,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 16, Aug. 9, Aug. 17, 1939 1939 19.3® A S S E T S Gold certificates on hand and due from U, S. Treasury 13,968,221 + 54,001 +3,335,814 Redemption fund - F. R. notes 9,056 + 462 - 56 Other cash __ 141iSP9 - 7.410 — 49,089 Total reserves U,318,786 + 47,053 +3,286,669 Bills discounted! Secured by U.S. Gov’t obligations, direct or fully guaranteed 1,052 348 2,672 Other bills discounted __1*500 18 + 592 Total bills discounted A, 552 366 - 2,080 Bills bought in open market 545 .— + 5 Industrial advances 11,615 50 4,201 — U. S. Government securities! Bonds 911,090 — + 166,985 Treasury notes 1,176,109 — - 20,079 Treasury bills ... JL2JLij>40 - 20,175 - 288,182 Total U. S. Government securities 2,422,739 - 20,175 - 141,276 Total bills and securities 2,439,451 - 20,591 - 147,552 Due from foreign banks 178 - 2 — F.R. notes of other banks 22,635 80 - 397 Uncollected items 721,814 +139,081 + 132,249 Bank premises 42,259 — - 2,227 Other assets 50,4;50 + 532 — . __8J0 T O T A L A S S E T S 17,595,573 +165,995 +3,267,910 L I A B I L I T I E S F. R. notes in actual circulation 4,563,822 + 13,133 + 413,608 Deposits! Member bank - reserve account 10,633,449 +124,446 +2,548,251 U.S. Treasurer - General account 775,739 - 68,529 - 26,365 Foreign bank 280,665 - 26,633 +: 164,798 Other deposits 284,585 -....4,652 + $1,387 Total deposits 11,974,438 + 24,632 +2,738,071 Deferred availability items 708,783 +128,300 + 119,242 Other liabilities including accrued dividends 2j£48 + 142 + §1 ........... _____________ T O T A L L I A B I L I T I E S 17,249,991 +166,207 +3,270,986 CAP I T AL A C C O U N T S Capital paid in 135,477 + 49 + 1,524 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 419 — - Other capital accounts 33,689 ,?6l - -5-,194 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,595,573 +165,995 +3,267,910 Ratio of total reserves to deposit and F. R. note liabilities combined 86,6% + •!$ + A. 2% Contingent liability cn bills purchased for foreign correspondents 101 + 101 - 596 Commitments to make industrial advances 11,261 76 2,479 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 16, 1939 (In thousands of dollars) ASS 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 fron U. S. Treasury 13,968,221 798,145 6,591,773 706,500 870,497 351,748 301,628 2,303,680 366,873 257,440 376,787 224,836 818,314 Redemption fund - F.R.notes 9,056 403 1,560 857 505 1,312 227 1,037 474 392 664 483 1,142 Other cash 34-1,509 22,583 89,320 28,354 24,196 20,220 20,787 43,800 17,235 9,727 18,012 15,836 31,439 Total reserves 14,318,786 821,131 6,682,653 735,711 895,198 373,280 322,642 2,348,517 384,582 267,559 395,463 241,155 850,895 Bills discounted* Secured by U.S.Gov’t obligations, direct or fully guaranteed 1,052 70 396 68 98 215 30 37 — 20 — 73 45 Other bills discounted 3,500 — 906 196 237 297 124 245 166 78 299 360 592 Total bills discounted 4,552 70 1,302 264 335 512 154 282 166 98 299 433 637 Bills bought in open market 545 41 212 55 51 23 19 69 2 2 16 16 39 Industrial advances 11,615 1,732 2,060 2,701 369 1,067 755 380 3 849 205 552 942 U. S. Government securities* Bonds 911,090 67,003 2.65,094 77,160 91,237 51,259 38,790 98,664 42,284 25,940 45,394 34,859 73,406 Treasury notes 1,176,109 86,-494 342,203 99,605 117,777 66,170 50,073 127,363 54,585 33,486 58,598 44,997 94,758 Treasury bills 335,540 24,676 97,630 28,417 33,601 18,878 14,286 36,336 15,573 9,553 16,718 12,838 27,034 Total U.S.Govlt securities 2,422,739 178,173 704,927 205,182 .242,615 136,307 103,149 262,363 112,442 68,979 120,710 92,694 195,198 Total bills and securities 2,439,451 180,016 708,501 208,202 243,370 137,909 104,077 263,094 112,613 69,928 121,230 93,695 196,816 Due from foreign banks 178 13 67 18 17 8 6 22 2 2 5 5 13 F. R. notes of other banks 22,635 293 4,548 972 1,607 1,100 1,573 3,352 1,793 1,218 2,005 365 3,809 Uncollected items 721,814 69,989 200,539 51,794 84,704 58,085 23,280 98,705 28,629 17,305 32,690 26,993 29,101 Bank prerises 42,259 2,912 8,926 4,625 5,931 2,576 2,051 3,399 2,264 1,508 3 >157 1,227 3,183 Other assets 50,450 3,210 14,958 4,425 5,548 3,366 2,240 4,849 2,072 1,467 2,283 1,860 4,172 TOTAL ASSETS 17,595,573 1,077,564 7,620,1921£) $747 1,236,375 576,324 455,069 2,722,438 531,955 358,987 556,833 365,300 1*087,989 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FFL—283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 16, 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. >n 4,563,822 389,707 1,136,149 320,731 425,169 202,591 :153,359 1,012,134 180,592 132,374 173,524 77,437 360,055 Depositst Member bank—reserve account 10,633,449 501,348 5,733,768 521,624 574,640 257,532 208,828 1,404,281 253,982 139,515 260,015 194,726 583,190 U.S.Treasurer-General accour ; 775,739 67,440 159,137 41,950 82,306 30,694 41,463 110,060 43,034 48,132 62,780 42,603 46,140 Foreign bank 280,665 20,159 100,578 27,161 26,041 12,041 9,800 33,881 8,121 6,440 8,120 8,120 20,203 Other deposits 284,585 5,072 192,567 7,758 11,680 1,586 6,409 16,499 5,624 5,790 8,505 1,686 21,409 Total deposits 11,974,438 594,019 6,186,050 598,493 694,667 301,853 266,500 1,564,721 310,761 199,877 339,420 247,135 670,942 Deferred availability items 708,783 69,632 177,765 53,914 83,700 57,012 23,240 100,586 30,023 17,538 33,673 29,622 32,078 Other liabilities including accrued dividends 2,948 334 1,006 329 263 A8 127 274 68 111 199 80 109 TOTAL LIABILITIES 17,249,991 1,053,692 7,500,970 973,467 1,203,799 561,504 443,226 2,677,715 521,444 349,900 546,816 354,274 1,063,184 C A P I T A L A C C O U N T S Capital paid in 135,477 9,405 50,874 12,116 13,740 5,117 4,559 H CO 3 3,997 2,916 4,292 4,042 10,615 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 2,121 Other capital accounts 33,689 1,510 8,428 2,052 3,506 1,427 1,741 6,824- 1,284 2,017 970 1,826 2,104 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 17,595,573 1,077,564 7,620,192 1P05,747 1,236,375 576,324 455,869 2,722,438 531,955 358,987 556,833 365,300 1,087,989 Contingent liability on bills purchased for foreign correspondents 101 7 36 10 10 4 4 12 3 2 3 3 7 Commitments to make industrial advances 11,261 634 2,049 1,342 1,443 928 139 46 430 64 618 — 3,568 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 4,552 1,431 2,053 447 304 317 — — — --- Bills bought 545 47 106 83 309 — — — — --- Industrial advances 11,615 1,165 218 553 364 1,804 2,452 2,538 2,521 —- U. S. Government securities 2,422,739 85,140 60,625 105,963 63,137 123,351 296,068 326,575 531,535 330,345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fom FR—283—d FEDERAL RESERVE HOTS STATELIEITT Oil AUGUST 16, 1939 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C;/. Dallas San Fran. Federal Reserve notesi Issued tc F.R.banlc by F.R. agent 4,847,304 408,876 1,224,996 340,800 443,972 213,314 163,670 1,038,471 191,951 137,^44 183,659 84,042 416,209 Held by Federal Reserve bank 283,482 19,169 88,847 20,069 18,803 10,723 10,311 26,337 11,3*9 4,970 10,135 6,605 56,154 In actual circulation 4,563,822 389,707 1,136,149 320,731 425,169 202,591 153,359 1,012,134 180,592 132,374 173,524 77,43? 360,055 Collateral held by agent as se­ curity for notes issued to bankJ Gold certificates 011 hand and due fron U. S. Treasury 4,941,500 420,000 1,248,000 345,000 447,000 215,000 169,000 1,055,000 196,000 139,500 185,000 88,000 434,000 Eligible paper 1,766 70 434 68 — 425 — — 10 26 24a — 492 Total collateral 4,943,266 420,070 1,248,434 345,068 447,000 215,425 169,000 1,055,000 196,010 139,526 185,241 88,000 434,492 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis