H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fora 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Nov. 3; of the Federal Reserve System not earlier. November 2, 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended November 1 member bank reserve balances decreased $136,000,000» Reductions in member bank reserves arose from increases 0:? $50,000,000 in money in circulation, $20,000,000 iu Treasury cash, $23,000,'€0 in Treasury deposits with Federal Reserve banks, and $99,000,000 in nonmember deposits and other Federal Reserve accounts,and a decrease of $6,000,000 in Reserve bank credit, offset in part by increases of $60,000,000 in gold stock anc. $3,000,000 in Treasury currency# Excess reserves of member banks on November 1 were estimated to be approximately $5,380,00.',,000, a decrease of $150,000,000 for the v/eek. The principal change in holdings of bills and .securities was a decrease of $15,000,000 in holdings of United States 'Treasury bills. Changes in member bank reserve balances and related items during the \7ecl: and the year ended November 1, 1939, were as follows» Increase or decrease since Nov, 1, Oct. 25, Nov. 2, 1939 1939 1938 (in millions of dollars) Bills discounted 6 — 2 _ Bills bought — — 1 U. S. Gov*t securities, direct and guaranteed 2,723. - 15 + 157 Industrial advances (net including 10 million comcitiuents - November l) 12 — 3 Other Reserve bank credit 26 + 8 + 32 Total Reserve bank credit 2,765 — 6 + IG3 Gold stock 17,099 + 60 +3,028 Treasury currency 2,932 + 3 + 180 Member bank reserve balances 11,GU -136 +3,128 Money in circulation 7,352 + 50 + 646 Treasury cash 2,250 + 20 - 501 Treasury deposits with F. R. banks 3^9 + 23 - 227 Nonmember deposits and other F. R. accounts 1,031 + 99 + 345 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Nov. 3»1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov. 1, Oct. 25, Nov. 2, J 2 2 L A S S E T S Gold certificates on hand and due from U, S. Treasury 14,839,206 + 34,996 +3,551,506 Redemption fund — F, R. notes 8,846 80 t- 705 Other cash 339.868 - 4,413 - ._2Jk22A Total reserves 15,187,920 + 30,503 +3,523,877 Bills discounted: Secured by U. S.Gov*t obligations, direct and guaranteed 1,180 + 187 3,722 Other bills discounted 5.068 + 310 + 1,892 Total bills discounted 6,248 + 497 1,830 Bills bought in open market 541 Industrial advances 11,680 83 3,468 U. S. Government securities, direct and guaranteed: Bonds 1,315,942 —. + 528,615 Notes 1,245,497 + 80,932 Bills 159. .380 - 14.940 . 452*742 Total U. S. Government securities, direct and guaranteed 2,720,819 - 14,940 + 156,804 Total bills and securities 2,738,747 - 14,526 + 150,965 Due from foreign banks 47 — 133 F.R. notes of other banks 22,133 - 1,252 + 225 Uncollected items 716,496 + 54,239 + 95,032 Bank premises 42,037 71 — 2,165 Other assets 69.492 + 56 + 20,575 T O T A L A S S E T S 18,776,872 + 68,949 +3,788,376 L I A B I L I T I E S F. R. notes in actual circulation 4,781,385 + 37,668 + 461,629 Deposits * Member bank - reserve account 11,813,664 -136,782 +3,127,678 U.S.Treasurer - General account 349,030 + 23,027 — 2.26,914 Foreign bank 470,881 + 51,983 + 269,609 Other deposits 319.449 + 46,575 + 94,604 Total deposits 12,953»024 - 15,197 +3,264,977 Deferred availability items 690,547 + 46,459 + 62,902 Other liabilities including accrued dividends 4.278 ±__ill 102 T O T A L L I A B I L I T I E S 18,429,234 + 69,061 +3,789,406 C A P I T A L A C C O U N T S Capital paid in 135,580 + 23 + 1,588 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 — 419 Other capital accounts 35.642 135 - ___L,612 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,776,872 + 68,949 +3,788,376 Ratio of total reserves to deposit and F. R. note liabilities combined 85.6% — + 2.3 Contingent liability on bills purchased for foreign correspondents 101 — - 223 Commitments to make industrial advances 10,023 133 «M« 3,297 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR—283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 1, 1939 (In thousands of dollars) A S S E T S Total Boston ttew York Phila* Cleve. Rich. Atlanta Chicago St.Loüis Minn. Kans.Cy. Dal".as San Fran. Gold certificates on hand and due from U. S. Treasury 14,839,206 855,218 7,084,774 752,121 918,407 384,272 273,151 2,511,503 412,228 246,089 335,535 215,142 850,766 Redemption fund — F.R. notes 8,846 1,116 1,345 383 536 575 348 968 840 327 552 4o6 1,450 Other cash 339,868 29,691 84,374 29,977 22,116 22,912 18,420 42,598 14,515 8,835 19,249 16,911 30,270 Total reserves 15,187,920 886,025 7,170,493 782,481 941,059 407,759 291,919 2,555,069 427,533 255,251 355,336 232,459 882,486 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed 1,180 100 275 55 173 120 90 108 60 100 65 4 30 Other bills discounted 5,068 — 1,525 321 491 362 141 417 146 i4i 1,124 101 299 Total bills discounted 6.248 100 1,800 376 664 482 231 525 206 241 1,189 105 329 Industrial advances 11,680 1,520 1,983 3,144 338 1,013 678 444 7 818 162 518 1,055 U. S. Government securities, direct and guaranteed» Bonds 1,315,942 95,198 416,243 113,099 136,970 66,623 52,392 143,719 44,106 35,087 57,079 46,951 107,675 Notes 1,245,497 90,103 393,960 107,045 129,638 63,058 49,588 136,025 41,744 33,209 54,781 44,438 101,908 Bills 159,380 11,530 50,413 13,698 16,589 8,069 6,345 17,407 5,342 4,250 7,010 5,686 13,041 Total U.S. Gov*t securities. direct and guaranteed 2*720,819 196,831 860,616 233,842 283,197 137,750 108,325 297,151 91,192 72,546 119,670 97,075 222,624 Total bills and securities 2,738,747 198,451 864,399 237,362 284,199 139,245 109,234 298,120 91,405 73,605 121,021 97,698 224,008 Due from foreign banks 47 33 18 5 4 2 2 6 1 * 1 1 4 F.R. notes of other banks 22,133 576 4,236 895 1,851 2,702 1 ,A86 2,99? 1,427 1,207 1,687 446 2,621 Uncollected items 716,496 77,684 175,119 47,739 87,404 •61,507 27,658 91,065 30,545 18,990 34,103 25,042 39,640 Bank premises 42,037 2,898 8,888 4,594 5,894 2,557 2,041 3,871 2,251 1,501 3,119 1,266 3,157 Other assets 69,492 4,536 22,193 5,998 7,652 4,078 2,930 6,991 2,180 1,886 2,859 2,4l8 5,771 TOTAL ASSETS 18,776,872 1,170,173 8,245,346 1,079,074 1,328,063 617,850 435,270 2,958,121 555,392 352,440 518,126 359,330 1,157,687 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Pom FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 1, 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 cir­ culation 4,781,385 400,305 1,202,765 333,989 440,096 223,798 160,345 1,047,750 188,998 137,913 179,269 83,775 382,382 Deposits* Member bank-reserve account 11,813,664 608,174 6,256,122 585,326 668,843 278,215 195,014 1,670,938 290,947 152,126 263,863 211,535 632,561 U.S.Treasurer-General account 349,030 21,441 112,045 16,904 42,662 19,169 18,923 40,158 12,915 20,825 16,047 11,211 .16,730 Foreign bank 470,881 33,889 168,062 45,674 43,791 20,247 16,480 56,975 13,655 10,830 13,655 13,655 33,968 Other deposits 319,449 5,881 218,646 18,333 12,832 2,953 5,990 5,588 8,308 5,486 1,105 4,300 30,027 Total deposits 12,953,024 669,385 6,754,875 666,237 768,128 320,584 236,407 1,773,659 325,825 189,267 294,670 240,701 713,286 Deferred availability itens 690,547 76,117 166,223 45,942 86,614 58,435 25,607 91,420 29,814 16,0r 9 33,906 23,658 36,802 Other liabilities including accrued dividends 4,278 371 1,477 438 .410 121 193 413 167 131 179 117 261 TOTAL LIABILITIES 18,429,234 1,146,178 8,125,340 1,046,606 1,295,248 602,938 422,552 2,913,242 544,804 343,320 508,024 348,251 1,132,731 C A P I T A L A C C O U N T S Capital paid in 135,580 9,384 50,912 12,117 13,796 5,107 4,561 13,805 4,004 2,919 4,303 4,051 10,621 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 35,642 1,654 9,174 2,239 3,689 1,529 1,814 6,979 1,354 2,047 1,044 1,870 2,249 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,776,872 1,170,173 8,245,346 1,079,074 1,328,063 617,850 435,270 2,958,121 555,392 352,440 518,126 359,330 1,157,687 Contingent liability on bills purchased for foreign correspondents 101 7 36 •10 10 4 4 12 3 2 3 3 7 Connitments to nake industrial advances 10,023 493 1,885 935 1,358 857 78 22 410 64 567 — 3,354 MATURITY DISTRIBUTION OF BIl^LS A1JD SECURITIES Within 16 to 31 to 61 to 91 days to 6 nonths 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 nonths to 1 Year to 2 Years 5 Years 5 Years Bills discounted 6,248 1,404 515 3,578 130 576 45 — ----- ----- Industrial advances 11,680 1,585 98 891 700 1,051 2j,089 2,961 2,305 - IT*. S. Government securities, direct and guaranteed 2,720,819 54,675 69,280 35,425 161,705 138,783 348,829 693,567 1,218,555 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-d FEDERAL RESERVE NOTE STATEMENT ON KOVE.IBSR 1, 1939 (in thousands of dollars) Total Boston Nev? York Phila. Gleve. Rich. Atlanta Chic'.go St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes; In actual circulation 4,781,385 400,305 1,PD2,765 333,989 440,096 223,798 160,345 1,047,750 188,998 137,913 179,269 83,775 382,382 Collateral held by agent as se­ curity for notss issued to bank: Gold certificates on hand and due from u, S. Treasury 5,166,000 440,000 1,305,000 360,000 465,000 237,000 174,000 1,090,000 203,000 143,500 190,000 94,500 464,000 Eligible paper 2,132 100 370 55 — 340 — — 110 144 1,013 — — Total collateral 5,168,132 440,100 1,305,370 360,055 455,000 237,340 174,000 1,090,000 203,110 143,644 191,013 C4,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis