H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOE THE PRESS Released for publication Board of Governors Friday morning, Oct, 65 of the Federal Reserve System not earlier. October 5, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended October 4 member bank reserve balances increased $51,000,000. Additions to member bank reserves arose from increases of $33,000,000 in gold stock and $6,000,000 in Treasury currency and decreases of $83,000,000 in Treasury deposits with Federal Reserve banks and $10,000,000 in Treasury cash offset in part by a decrease of $9,000,000 in Reserve bank credit and increases of $71,000,000 in money in circulation, and $2,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on October A were estimated to be approximately $5,360,000,000, an increase of $30,000,000 for the week. The principal change in holdings of. bills and securities was a decrease of $19,000,000 in holdings of United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended October A, 1939, were as follows» Increase or decrease since Oct. A, Sept. 27, Oct. 5, 1939 1939 1938 (In millions of dollars) Bills discounted 7 + 1 — Bills bought 1 — — U, S. Government securities,direct ard guaranteed 2,785 - 19 + 221 Industrial advances (not including 10 million commitments ~ October A) 12 — 3 Other Reserve bank credit 33 + 9 + 27 Total Reserve bank credit 2,837 - 9 + 2AA Gold stock 16,958 + 33 +3,146 Treasury currency 2,920 + 6 + 179 Member bank reserve balances 11,672 + 51 +3,351 Money in circulation 7,309 + 71 + 669 Treasury cash 2,250 - 10 - 559 Treasury deposits with F. R. banks 469 - 83 - 301 Nonmember deposits and other F.R. accounts 1,015 + 2 + 408 As Thursday, October 12, will be observed as a holiday in most Federal Reserve bank cities, the statement for next -meek will be issued on Friday, October 13. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora -SB-283-a Released for publication Friday morning, Oct. 6,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Oct. 4, Sept. 27, Oct, 5, .....1918 .„.1222__ A S S E T S Gold certificates on hand and due fron U. S. Treasury 14,696,217 + 39,500 +3,729,004 Redemption fund - F. R, notes 9,005 + 1,661 133 Other cash .. _J2iil52 -12i822 - 42,265 Total reserves 15,030,375 +27,268 +3,686,606 Bills discounted* Secured by U, S. Gov't obligations, direct and guaranteed 1,277 295 2,620 Other bills discounted 5,472 + 688 + 2,024 Total bills discounted 6,749 + 393 596 Bills bought in open market 548 + 7 Industrial advances 11,841 + 197 3 »614 U, S. Government securities, direct and guaranteed: Bonds 1,315,942 + 528,615 Notes 1,245,497 + 80,932 — Bills 223,457 - 18,913 - 388,666 Total U.S. Governnent securities, direct and guaranteed 2,784,896 - 18,913 + 220,881 Total bills and securities 2,804,034 - 18,323 + 216,678 + Due fron foreign banks 176 4 F. R. notes of other banks 20,583 216 2,986 Uncollected items 666,514 + 19,876 + 3^,397 Bank precises 42,082 58 2,222 Other assets 68,951 + 1,062 + .21,098 T O T A L A S S E T S 18,632,715 + 29,609 +3,953,567 L I A B I L I T I E S F. R. notes in actual circulation 4,732,133 + 48,407 + 469,273 Deposits« Member bank - reserve account 11,671,664 + 50,326 +3,351,028 U. S, Treasurer - General account 469,127 - 82,763 - 300,959 Foreign bank 466,137 - 1,443 + 271,081 Other deposits ...... _309t4Q3. + 5,490 + 158,479 Total deposits 12,916,331 - 28,390 +3,4-79,629 Deferred availability items 633,483 + 10,724 + 6,798 Other liabilities including accrued dividends r_..iuiji -22 T O T A L L I A B I L I T I E S 18,285,762 + 29,586 +3,955,668 C A P I T A L A C C O U N T S Capital paid in 135,460 51 + 1,475 Surplus (Section 7) 149,152 + 1,413 Surplus (Section 13b) 27,264 --- 418 Other capital accounts 35,077 + 74 4,571 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,632,715 + 29,609 +3,953,567 Ratio of total reserves to deposit and F. R, note liabilities combined 85,2$ + «1% + 2.4% Contingent liability on bills purchased for foreign correspondents 101 56 Commitments to make industrial advances 10,278 239 3,321 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fona FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 4, 1939 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve, Rich,, Atlanta Chicago St.Louis: Minn. Kansr. Cy,. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 14,696,217 859,424 7,010,44-1 719,107 860,899 382,051 307,591 2,449,484 423,831 264,430 348,981 235,923 834,055 Redemption fund - F.R.notes 9,005 214 1,792 546 705 1,252 548 663 883 350 593 432 1,027 Other cash 325,153 28,104 81,121 27,973 22,378 21,823 17,207 42,562 14,462 8,460 18,454 14,942 27,667 Total reserves 15.030.375 887,742 7,093,354 747,626 883,982 405,126 325,346 2,492,709 439,176 273,240 368,028 251,297 862,749 Bills discounted! Secured by U.S. Gov't obligations, direct and guaranteed 1,277 410 387 115 63 96 20 34 60 — — 17 75 Other bills discounted 5,472 — • 2,213 321 472 322 151 400 236 87 480 157 633 Total bills discounted 6.749 4-10 2,600 436 535 418 171 434 296 87 480 174 708 Bills bought in open market 548 41 213 56 51 24 19 69 2 2 16 16 39 Industrial advances 11,841 1,595 2,024 3,096 336 1,035 645 445 7 846 202 536 1,074 U. S. Governnent securities, direct and guaranteed: Bonds 1,315,942 95,114 418,066 113,204 136,887 66,230 52,202 143,485 43,984 34,933 57,502 46,772 107,563 Notes 1,245,497 90,022 395,688 107,143 129,559 62,684 49,408 135,804 41,629 33,063 54,426 44,266 101,805 Bills 223,457 16,151 70,991 19,223 23,245 11,246 8,864 24,365 7,469 5,932 9,764 7,942 18,265 Total U.S.Gov't securities. direct and guaranteed 2,784-,896 201,287 884,745 239,570 289,691 140,160 110,474 303,654 93?082 73,928 121,692 98,980 227,633 Total bills and securities 238D4i0'34 203,333 889,582 243,158 290,613 141,637 111,309 304,602 93,387 74,863 122,390 99,706 229,454 Due fron foreign banks 176 13 66 18 16 7 6 22 3 2 5 5 13 F. R. notes of other banks 20*583 492 4,529 904 1,727 1,608 1,783 2,418 1,543 1,274 1,841 511 1,953 Uncollected items 666,514 68,133 162,018 48,644 74,091 54,633 26y129 90,896 31,656 19,324 30,728 26,389 33,873 Bank premises 42,082 2,903 8,908 4,6o4 5,906 2-564 2,044 3,880 2,256 1,503 3,132 1,216 3,166 Other assets 68,951 4,495 22,128 5,980 7,592 4,027 2-898 6,861 2,157 1,855 2,811 2-429 5,-718 TOTAL ASSETS 13,632,715 1,167,111 8,180,585 1,050,934 1,263,927 609,602 469,515 2,901,388 570,178 372,06l 528,935 3S1>555 1,136,926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283^c STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS ON OCTOBER 4, 1939 L I A B I L I T I E S (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F. R. notes in actual cir­ culation 4,732,133 402,045 :1,196,981 330,565 434,547 208,923 158,092 1,039,533 185,613 138,005 178,373 83,451 376,005 Deposits: Member bank-reserve account 11,671,664 596,204 16,283,681 559,247 627,541 607,605 U.S.Treasurer-General account 469,127 38,993 60,033 23,837 38,303 26,920 Foreign bank 466,137 33,398 167,082 45,12L 43,260 56,284 13,490 10,699 13,490 13,490 33,540 Other deposits 309,403 6,791 206,772 12,440 14,116 1,747 6,864 8,368 8,247 5,487 391 1,509 36,671 Total deposits 12,916,331 675,386 6,717,568 640,645 723,220 334,682 273,278 1,723,742 342,367 208,652 310,544 261,511 '• 704,736 Deferred availability items 633,483 65,419 145,083 46,927 73,083 50,990 25,281 92,935 31,435 16,135 29,737 25,398 31,060 Other liabilities including accrued dividends 3,815 323 1,328 383 349 101 168 338 170 146 183 116 210 TOTAL LIABILITIES 18,285,762 1,143,173 8,060,960 1,018,520 1,231,199 594,696 456,819 2,856,548 559,585 362,938 518,837 370,476 1,112,011 m C3 C A P I T A L A C C O UNTS Capital paid in 135,460 9,384 50,832 12,116 13,768 5,117 4,56l 13,800 3,995 2,918 4,302 4,049 10,618 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 4,416 1,007 3,293 713 1,429 545 1,001 1,142 1,266 2,121 Other capital accounts 35,077 1,597 8,873 2,186 3,630 1,513 1,792 6,945 1,368 2,051 1,04! 1,870 2,211 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,632,715 1,167,111 8,180,585 1,050,934 1,263,927 609,602 469,515 2,901,388 570,178 372,061 528,935 381,553 1,136,926 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 10,278 472 1,898 900 1,408 891 79 27 413 64 583 3,543 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 6,749 2,451 237 353 3,547 133 28 --- — — Bills bought 548 255 — 140 153 — --- --- --- Industrial advances 11,841 1,406 133 395 1,191 1,217 2,117 2,973 2,409 —— U. S*. Government securities, direct and guaranteed 2,784,896 36,637 27,440 123,955 141,173 161,705 138,783 347,365 569,282 1,218,556 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form PH—283-d FEDERAL RESERVE NOTE STATEMENT Oil OCTOBER 4, 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.ban^c by F.R.agent 5,002,399 431,405 1,276,001 345,571 455,646 221,461 168,426 1,061,294 195,476 1/1,620 185,775 91,157 428,567 Held by Federal Reserve bank 270,266 29,360 79,020 15,006 21,099 12,538 10,334 21,761 9,863 3,615 7,402 7,706 52,562 In actual circulation 4,732,133 ¿02,045 1,196,981 330,565 434,547 208,923 158,092 1,039,533 185,613 138,005 178,373 83,451 376,005 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,108,000 440,000 1,290,000 350,000 460,000 225,000 174,000 1,030,000 199,000 143,500 188,000 94,500 464,000 Eligible paper 2,406 410 1,180 115 — 276 — — }10 6 309 — — Total collateral 5,110,406 440,410 1,291,180 350,115 460,000 225,276 174,000 1,080,000 199,110 143,506 188,309 94,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis