H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FA-283 STATEMENT FOR THE PRESS Released for nublication Bo;u*d of Governors Friday morning, Nov. 10; of the Federal Reserve System not earlier, November 9, 1939 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 8 member bank reserve balances decreased $65,000,000. Reductions in neuber bank reserves arose froa increases of 857.000.000 in money in circulation and $13,000,000 in Treasury c,.sii and a de­ crease of $44,000,000 in reserve bank credit, offset in part by increases of 033.000.000 in gold stock and ¿3,000,000 in Treasury currency and a decrease of 011.000.000 in ncnmember deposits and other Federal Reserve accounts. Excess reserves of member banks on liovcriber 8 were estimated to be approximately $5,350,000,000, a decrease of 030,000,000 for the week. The principal chan. :e in holdings of bills and securities was a net decrease of 334,000,000 in United States Government securities, direct and guaranteed» holdings of bills decreased $34,000,000 and of bonds $2,000,000, v/hile holdings of notes increased $2,000,000. Changes in nember bank reserve balances and related items during the week and the year ended November 8, 1939, were as follows» Increase or decrease since Nov. 8, Nov. 1, Nov. 9, 1939 1939 1938 (in millions of dollars) Dills discounted 6 . - 2 1-ills bought 1 — — II. S. Government securities,direct and guaranteed 2,687 - 34 + 123 Industrial advances (not including 10 million commitments - November 8) .12 3 Other Reserve bank credit 16 - 10 + 34 Total Reserve bank credit 2,721 - 44 + 152 Gold stock 17,132 + 33 +3,041 Treasury currency 2,935 + 3 + 3.80 ¡.ienber bank reserve balances 11,749 - 65 +3,203 Money in circulation 7,409 + 57 + 645 Treasury cash 2,263 + 13 - 474 Treasury deposits with F. R. banks 348 - 1 - 230 Nonmember deposits and other F. R. accounts 1,020 - 11 + 230 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form 5R—2S3—a Released for publication Friday morning, Nov, 10, 1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMiiBBIINNEEDD (In thousands of dollars) Increase or decrease since Nov, 8, Nov. 1, Nov. 9, 1939 1939 1938 A S S E T S Gold certificates on hand and due from U* S. Treasury 14,35s, no + 19,004 +3,540,512 Redemption fund - F. R. notes 9,139 + 293 + 68 Other cash 223^888 - 15,980 — 27,910 Total reserves 15,191,237 + 3,317 +3,512,670 Bills discounted* Secured by U. S. Gov’t obligations, direct and guaranteed 1,091 89 . 3,589 Other bills discounted ... 5*384 + 316 + 2,264 Total bills discounted 6,475 + 227 - 1,325 Bills bought in open market ■ — — - 545 Industrial advances 11,623 57 3,540 U, S. Governiiient securities, direct and guaranteed* Bonds 1,313,942 - 2,000 + 526,615 Notes 1,247,497 + 2,000 + 82,932 Bills 125,380 " 34,000 436,743 Total U, S. Government securities« direct and guaranteed 2,686,819 - 34,000 + 122,804 Total bills and securities 2,704,917 “ 33,830 + 117,394 - Due from foreign banks in — 129 F.R. notes of other banks 20,844 - 1,289 1,603 Uncollected items 578,163 -138,333 + 21,792 Bank premises 42,037 — — 2,166 Other assets 70,073 + 581 20,529 T O T A L A S S E T S 18,607,318 -169,554 +3,668,487 L I A B I L I T I E S F. R. notes in actual circulation 4,817,094 + 35,709 461,340 Deposits* Member bank — reserve account 11,748,660 - 65,004 +3,202,494 U.S.Treasurer — General account 347,622 - 1,408 - 230,144 Foreign bank 456,231 - 14,650 + 238,198 Other deposits 322,911 + 3,462 + 10,429 Total deposits 12,875,424 - 77,600 +3,220,977 Deferred availability items 562,106 -12.8, Ml - 12,919 Other liabilities including accrued dividends + 175 - ___ 205 T O T A L L I A B I L I T I E S 13,259,077 -170,157 +3,669,193 C A P I T A L A C C O U N T S Capital paid in 135,597 + 17 + 1,594 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 — - 419 Other capital accounts 36,228 + 586 3,294 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,607,318 -169,554 +3,668,457 Ratio of total reserves to deposit and F. R, note liabilities combined 85*955 + ,3% + 2.5% Contingent liability on bills purchased for foreign correspondents — 101 - 324 Commitments to nake industrial advances 9,966 57 - 3,352 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

i'brm FF-233-b STATE;'EUT OF CONDITION OF THE FEDERAL RESERVE BANKS 0 H HOVE: IB ER 8, 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. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 14,858,210 850,142 6,998,030 788,293 914,681 389,310 281,370 2,528,284 425,732 248,255 335,007 226,778 872,328 Redemption fund. — F.R. notes 9,139 1,074 1,197 1,383 480 256 322 905 825 321 539 406 l,4jl Gr-hor cash 323, o-Jo 29,680 81,613 27,422 20,646 20,595 18,123 4-3,054 13,421 9,938 18,124 16,28d 24,984 Total reserves 15,191,237 880,896 7,080,840 817,098 935,807 410,161 299,815 2,572,243 439,978 258,514 353,670 243,472 898,743 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 1,091 85 249 30 168 81 65 74 75 135 60 19 50 Other bills discounted 5,304 --- 1,608 321 477 362 170 433 156 147 1,321 98 291 Total bills discounted 6,475 85 1,857 351 645 443 235 507 231 282 1,381 117 341 Industrial advances 11,623 1,501 1,984 3,145 337 1,003 663 444 7 812 l6l 512. 1,054 U. S. Government securities direct and guaranteed* Bonds 1,313,942 95,100 414,607 112,869 136,807 66,739 52,417 143,63c 44,107 35,119 57,998 46,979 107,570 Notes 1,247,497 90,291 393,642 107,163 129,889 63,365 49,765 136,366 41,875 33,342 55,065 44,603 102,131 Bills 125,380 9,075 39,563 10,770 _ A3,055 6,368 .5,002. 13,705 ... 4*209. _3j151_ . 2*13.4. .4*483. . 10,265 Total U.S.Gov't securities, direct and guaranteed 2,686,819 194,466 847,812 230,802 279,751 136,472 107,184 293,701 90,191 71,812 118,597 96,065 219,966 Total bills and securities 2,704,917 196,052 851,653 234,298 280,733 137,918 108,082 294,652 90,429 72,906 120,139 96,694 221,361 Due from foreign banks 47 3 18 5 4 2 2. 6 1 * 1 1 4 F. R. notes of other banks 20,844 688 3,306 670 l,54é 2,884 1,745 2,228 1,974 1,088 1,422 545 2,748 Uncollected items 578,163 59,100 116,931 37,844 64,648 53,541 25,657 86,379 29,054 18,553 30,246 26,709 29,501 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 70,073 4,572 22,392 6,044 7,736 4,12.5 2,968 6,988 2,188 1,894 2,886 2*443 5,837 TOTAL ASSETS 18,607,318 1,144,209 8,084,028 1,100,553 1,296,368 611,188 440,310 2,966,367 565,875 354,456 511,483 371,130 1,161,351 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR.—2o3“c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS Oil ¡JOVUBER 8, 1939 (In thousands of dollars) L I A B I L I T I E S Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas -San Fran. F.R. notes in actual cir­ culation 4,817,094 400,231 1,205,831 337,704 443,301 2.25,247160,585 1,051,487 189,408 138,706 180,503 84,186 394,905 Deposits s i 11,748,660 602,868 6,139,740 609,704 659,384 291,428202,943 1,673,756 304,310 155,452 260,993 221,024. 627,053 mt 347,622 20,318 115,452 18,937 34,225 6,904 16,7.56 51,049 11,628 19,398 14,017 11,581 27,357 --orezgn Dank 456,231 33,079 160,645 4)4,582 42,743 19,763 16,086 55,612 13,329 10,571 13,328 13,328 33,165 Other deposits 322,911 6,996 225,066 17,151 12,631 4,647 6,202 5,330 7,474 5,329 1,098 4,812 26,175 Total deposits 12,875,424 663,261 6,640,903 690,374 748,983 322,742241,987 1,785,747 336,741 190,750 289,441 250,745 713,750 Deferred availability items 562,106 56,349 115,583 39,496 65,766 48,123 24,798 83,744 28,929 15,721 31,216 24,975 27,406 Other liabilities including accrued dividends 4,453 358 1,582 4*47 428 127 195 429 175 135 185 120 272 TOTAL LIABILITIES 18,259,077 ]-,120,199 7,963,899 3.,068,021 1,263,478 596,239 ■427,565 2,921,407 555,253 345,312 501,345 360,026 1,136,333 A P I T A L A C 0 0 U I1i T1 3O Capital paid in 135,597 9,383 50,914 12,115 13,797 5,107 4,561 13,804 4,019 2,922 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 4,416 1,007 3,293 713 1,429 545 1,001 1,14-2 1,266 2,121 Other capital accounts 36,228 1,670 9,295 2,305 3,763 1,566 1,841 7,061 1,373 2,068 1,080 1,895 2,311 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,607,318 1,144,209 8,084,028 1,100,553 1,296,368 611,1884/0,310 2,966,367 565,875 354,456 511,483 371,130 1,161,351 Commitments to make industrial advances 9,966 484 1,934 923 1,356 856 78 22 4LQ 63 567 3,273 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l to 91 days to 6 months 1 Year 2 Years to Over i'otal 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 6,475 1,594 315 3,361 393 753 59 — — — Industrial advances 11,623 1,57? 73 1,245 436 1,040 2,C32 2,930 2,290 —_» U. S. Government securities, direct and guaranteed 2,686,819 48,675 76,705 — — 161,705 136,783 348,82.8 695,567 1,218,556 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-d FEDERAL RESERVE NOTE STATU5EHT Olì U0V33BER 8, 1939 (In thousands of dollars) Total Boston Uew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank by F.P..agent 5,102,403 427,162 1,290,3?S 354,036 467,921 236,425 172,178 1,081,075 200,249 143,753 109/76 91,676 447,¿54 Held by Federal Reserve bank 285,309 26,931 84,567 16,332 19,620 11,178 11,593 30,30C 10,841 5,047 3,773 7,490 52,549 In actual circulation 4,817,094 400,231 1,205,831 337,704 448,301 225,247 160,535 1,051,487 189,408 138,706 180,503 ¿14,186 394,905 Collateral held by agent as se­ curity for notes issued to banks Gold certificates on hand and due from U. S. Treasury 5,177,000 440,000 1,305,000 360,000 471,000 240,000 174,0CO 1,090,000 203,000 145,500 190,00;' 94,500 464,000 Eligible paper 2,346 85 4-18 30 — ■ 301 — — -135 185 1,192 — —- Total collateral 5,179,3-46 440,085 1,305,418 360,030 471,000 240,301 174,000 1,090,000 203,135 145,685 191,192 94,50- 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis