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, Oct. 20; of the Federal Reserve System not earlier. October 19, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended October 18 member bank reserve balances increased $168,000,000. Additions to member bank reserves arose from decreases of $55,000,000 in Treasury deposits with Federal Reserve banks, $41,000,000 in non­ member deposits and other Federal Reserve accounts, $22,000,000 in Treasury cash and $16,000,000 in money in circulation and increases of $24,000,000 in gold stock, $7,000,000 in Reserve bank credit, and $3,000,000 in Treasury currency. Excess reserves of member banks on October 18 were estimated to be approximately $5,510,000,000, an increase of $110,000,000 for the week. The principal change in holdings of bills and securities was a decrease of $17,000,000 in holdings of United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended October 18, 1939, were as follows* Increase or decrease since Oct. 18, Oct. il, Oct. 19, 1932 . .-„192ÌL. ..._19J8_„. (in mil.lions of dollars) Bills discounted 6 « 1 __ Bills bought 1 - — U. S. Gov’t securities, direct and guaranteed 2,7 AS - 17 Industrial advances (not including 10 million 4- i—1 to "4* — commitments - October IS) 12 3 Other Reserve b^nk credit 51 + 25 + 49 Total Reserve bank credit 2,817 + 7 + 228 Gold stock 16,997 + 24 +2,989 Treasury currency 2,927 + 3 + 181 Member bank reserve balances 11,907 +168 +3,214 Money in circulation 7,330 - 16 + 662 Treasury cash 2,216 - 22 - 554 Treasury deposits with, F. R. banks 349 - 55 - 260 Nonmember de-posits and other F. R. accounts 939 - /I + 336 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn FR—283**a Released for publication Friday norning, Oct. 20,1939; not earlier. STATEMENT OF CONDITION OF THE TH5ELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Oct. 18, Oct. 11, Oct. 19, _12X9 1939 1938 A S S E T S Gold certificates on hand and due fron U. S. Treasury 14,769,206 + 43,491 +3,571,997 Redenption fund - F. R.notes 9,777 + 790 + 112 Other cash 332,383 + 17,189 - 41,92.9 Total reserves 15,111,366 + 61,470 +3,530,180 Bills discounted: Secured by U, S. Gov’t obligations, direct and guaranteed 1,082 249 2,388 Other bills discounted 4,541 642 + 1,939 Total bills discounted 5,623 891 449 Bills bought in open market 415 83 126 Industrial advances 11,787 16 3,659 U. S. Governaent securities, direct ond guaranteed: Bonds 1,315,942 — + 528,615 Notes 1,245,497 — + 80,932 Bills 186,820 - 16,637 - 425,303 Total U.S. Governraent securities, direct and guaranteed 2,748,259 - 16,637 + 184,244- Total bills and securities 2,766,084 - 17,627 + 180,010 Due from foreigi banks 308 + 83 + 128 F. R. notes of other banks 23,185 + 2,349 - 1,190 Uncollected itens 802,576 +134,940 + 84,274 Bank prenises 42,087 + 5 - 2,218 Other assets 68,663 - 2,455 + .20*921 T O T A L A S S E T S 18,814,2.69 +178,765 +3,812,115 L I A B I L I T I E S F. R. notes in actual circulation 4,756,457 Deposits: Menber bank — reserve account U.S. Treasurer- General account Foreign baiik Other deposits Total deposits Deferred availability itens Other liabilities including accrued dividends T O T A L L I A B I L I T I E S C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F. R. note liabilities combined Contingent liability on bills purchased for foreign correspondents Connitnents to nake industrial advances I 1—l in + 467,637 11,906,847 +167,691 +3,213,658 349,137 - 54,398 259,965 414,705 - 29,502 + 217,333 283,540 - 13,860 + 139,087 12,954,2.29 + 69,931 +3,310,113 752,250 +110,630 + 36,200 _ ... .2,935 = . - 260 18,466,871 +178,770 +3,813,690 135,569 + 8 + 1,586 149,152 — 1,413 27,264 - 419 — ... ._25j412. r J2 — . 4*151 18,814,269 +178,765 +3,812,115 85,3% — + 2.2% 101 ~ 237 — 10,236 92 4,301 - 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 00T05ER 18, 1939 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich* Atlanta Chicago £it »Louis Minn. Kans*Cy* Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 1-4,769,206 848,210 7,129,336 725,538 865,332 377,953 277,459 2,466,276 410,332 246,059 345,488 220,679 856,544 Redemption fund - F.R. notes 9,777 1,161 1,520 454 601 957 376 1,057 857 338 568 415 1,473 Other cash 332,383 28,868 86,255 28,392 21,4-94 21,709 17,908 43,174 14,250 8,687 18,881 15,789 26,976 Total reserves 15,111,366 878,239 7,217,111 754,384 887,427 400,619 295,743 2,510,507 425,439 255,084 364,937 236,883 884,993 Bills discounted: Secured by U.S.Gov1t obligations, direct and guaranteed 1,082 85 290 90 113 165 10 125 60 30 60 4 50 Other bills discounted 4,541 — 1,482 321 468 342 135 417 146 123 647 114 346 Total bills discounted 5,623 85 1,772 411 581 507 145 542 206 153 707 118 396 Bills bought in open market 415 41 80 55 51 24 19 69 2 2 16 16 40 Industrial advances 11,787 1,574 1,998 3,128 340 1,017 645 445 7 838 201 532 1,062 U* S. Government securities, direct and guaranteed! Bonds 1,315,942 95,162 417,034 113,145 136,934 66,452 52,310 143,618 44,053 35,020 57,716 46,872 107,626 Notes 1,245,497 90,067 394,710 107,087 129,604 62,896 49,509 135,929 41,695 33,146 54,626 44,364 101,864 Bills 186,820 13,510 59,205 16,063 19,440 9,434 7,426 20,389 6,254 4,972 8,194 6,654 15,279 Total U.S.Gov*t securities, direct and guaranteed 2,748,259 198,739 870,949 236,295 285,978 138,782 109,245 299,936 92,002 73,138 120,536 97,890 224,769 Total bills and securities , 2,766,084 200,439 874,799 239,889 286,950 140,330 110,054 300,992 92,217 74,131 121,460 98,556 226,267 Due from foreign banks 308 13 199 17 16 7 6 22 3 2 5 5 13 F.R.notes of other banks 23,185 950 5,681 1,120 1,676 2,293 2,090 2,561 2,026 843 1,184 534 2,247 Uncollected items 802,576 80,909 201,496 58,904 87,180 67,780 30,352 107,224 35,220 23,315 34,923 31,808 43,465 Bank premises 42,087 2,903 8,908 4,6o4 5,906 2,564 2,044 3,880 2,256 1,508 3,132 1,216 3,166 Other assets 68,663 4,470 21,975 5,945 7,565 4,028 2,894 6,870 2,141 1,853 2,007 2,412 5,703 TOTAL ASSETS 18,814,269 1,167,903 8,330,169 1,064,863 1,276,720 617,621 443,183 2,932,056 559,302 356,736 528,448 371,414 1,165,854 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—2Ö3~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 18, 1939 L I A B I L I T I E S (in thousands of dollars) Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Loui® Minn. Kans.Cy. Dallas San Fran. F.R. notes in actual cir­ culation 403,837 1,195,041 331,883 Deposits! 605,613 6,399,065 582,181 U.S.Treasurer—General account 34-9,137 20,211 95,951 11,643 30,113 22,083 24,510 25,642 24-,253 30,543 17,528 22,988 23,672 Foreign bank 414-,705 29,976 146,222 40,506 38,8^6 17,956 14,616 50,528 12,110 9,605 12,110 12,110 30,130 Other deposits 283,540 6,620 193,399 9,480 7,799 1,540 6,185 6,227 8,424 4,576 1,086 2,088 36,116 Total deposits 12,954,229 ..662,420 6,834,637 643,810 720,826 318,039 242,133 1,736,630 326,048 190,916 306,837 246,054 725,879 Deferred availability items 752,250 77,337 179,280 56,316 84,371 63,857 28,685 106,717 35,364 18,819 33,133 30,351 38,020 Other liabilities including accrued dividends 3,935 337 1,356 404 377 105 177 369 154 153 168 106 22.9 TOTAL LIABILITIES 18,466,871 1,143,931 8,210,314 1,032,413 1,243,920 602,693 430,474 2,887,177 548,734 >47,616 518,357 360,332 1¿40,910 C A P I T A L A C C O U ] :i T s Capital paid in 135,569 9,384 50,911 12,116 13,790 5,118 4,561 13,803 3,993 2,919 4,303 4,049 10,622 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 35,413 1,631 9,024 2,222 3,680 1,534 1,805 6,981 1,3*5 2,047 1,033 1,875 2,236 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,814,269 1,167,903 8,330,169 1,064,863 1,276,720 617,621 443,183 2,93-2,056 559,302 356,736 528,448 371,4l41,165,854 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 10,236 493 1,892 965 1,407 892 79 27 415 64 576 — 3,426 MATURI:TY 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 5,62.3 1.,255 297 3,,539 307 159 66 — — — Bills bought 415 99 93 223 — — — — - Industrial advances 11.787 1,442 310 419 li>113 1,135 2,038 2,966 2,364 — U. S. Govemnent securities 9 direct .and guaranteed 2,748,259 27,440 54,675 210,453 161,705 138,783 347,365 589,282 1,218,556 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—2ß3~d FEDERAL RESERVE NOTE STAIEHEIJT OK OCTOBER 13, 1939 (in thousands of dollars) Total Boston llevi 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 5,060,226 431,718 1,284,768 353,234 461,042 231,356 170,176 1,031,355 197,839 142,673 136,900 90,827 428,333 Held by Federal Reserve bank 303,769 27,381 89,727 21,351 22,696 10,664 10,697 37,394 10,671 4,950 8,681 7,006 51,551 In actual circulation 4,756,457 403,837 1,195,041 331,883 433,346 220,692 159,479 1,043,461 187,168 137,723 173,219 83,8.21 376,782 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U, S. Treasury 5,162,000 >440,000 1,305,000 360,000 463,000 235,000 174,000 1,090,000 203,000 143,500 190,000 94,500 464,000 Eligible paper 1,557 85 344 90 — 365 — — 110 50 513 Total collateral 5,163,557 440,085 1,305,344 360,090 463,000 235,365 174,000 1,090,000 203,110 143,550 190,513 94,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis