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, December 1; of the Federal Reserve System not earlier. November 30, 1939 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 29 member bank reserve balances were practi­ cally unchanged. Additions to member bank reserves arising from a decrease of $2$,000?000 in Treasury deposits with Federal Reserve banks and increases of $90,000,000 in gold stock and $5,000,000 in Treasury currency were offset by a de— creo.se of ¿40,000,000 in Reserve bank credit and increases of $28,000,000 in money in circulation, $2,000,000 in Treasury cash and $49,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on November 29 were estimated to be approximately $5,140,000,000, a decrease of $30,000,000 for the week. The principal change in holdings of bills and securities was a decrease of $41,000,000 in holdings of United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended November 29, 1939, were as followst Increase or decrease since Nov. 29, Nov. 22, Nov. 30. X92?__ 1939 ... (In millions of dollars) Bills discounted 8 + 1 Bills bought — - 1 U. S, Gov't securities,direct and guaranteed 2,552. - 41 - 12 Industrial advances (not including 10 million commitments - November 29 11 - 1 5 Other Reserve bank credit 34 + 2 + 37 Total Reserve bank credit 2,605 - 40 + 21 Gold stock 17,3-47 + 90 +3,035 Treasury currency 2,947 + 5 + 174 Member bonk reserve balances 11,620 + 1 +2,744 Money in circulation 7,462 + 28 + 675 Treasury cash 2,359 + 2 - 3.30 Treasury deposits with F. R. banks 441 - 25 - 43 Nonmember deposits and other F. P.. accounts 1,017 + 49 + 184- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-28>-a Released for publication Friday morning, Dec. 1, 19395 not earlier, STATEMENT OF CONDITION..'' OF THE TWELVE FEDERAL RESERVE BANKS 'COMBINED (in thousands of dollars) Increase or decrease since Nov. 29, Nov. 22, Nov. 30, 1939 1939 1938 A S S E T S Gold certificates on hand and due from U. S. Treasury- 14,966,121 + 94,466 +3>364,4o4 Redemption fund - F. R. notes 9,866 + 452 949 Other cash 320,766 - 10,165 37,174 Total reserves 15,296,753 + 84,753 +3,326,281 Bills discounted: Secured by U. S. Gov’t obligations, direct and guaranteed 1,817 + Til - 2,784 Other bills discounted 6,209 “....239 + 3,729 Total bills discounted 8,026 + 38 + 945 Bills bought in open market - 547 — — Industrial advances 11,393 175 4,428 U. S. Government securities, direct and guaranteed: Bonds 1,283,447 _ _ + 496,120 Notes 1,233,225 — + 68,660 Bills 35,425 - 41,280 576,698 Total U. S. Government securities, direct and guaranteed 2,552,097 - 41,280 - 11,918 Total bills and securities 2,571,516 - 41,417 15,948 Due from foreign banks 47 127 — F. R. notes of other banks 20,728 718 2,914 Uncollected items 678,043 - 14,275 + 62,026 Bank premises 4-2,016 35 - 2,103 Other assets 71,470 + 1,074 + 20,394 T O T A L A S S E T S 18,680,573 + 29,382 +3*387,609 L I A B I L I T I E S F. R. notes in actual circulation 4,845,292 + 19,339 + 460,410 Deposits: Member bank — reserve account 11,619,749 + 561 +2,743,268 U. S. Treasurer — General account 440,949 - 25,038 43,033 Foreign bank 407,274 + 4,025 + 199,177 Other deposits 368,357 + 45,102 + 2*182 ... Total deposits 12,836,329 + 24,650 +2,901,601 Deferred availability items 644,310 - 15,771 + 24,885 Other liabilities including accrued dividends 5.980 + 1,132 + 396 T O T A L L I A B I L I T I E S 18,331,911 +29,350 +3,387,292 C A P I T A L A C C O U N T S Capital paid in 134,935 + 16 + 903 Surplus (Section 7) 149,152 — + 1,413 Surplus (Section 13b) 27,264 — - 419 Other capital accounts + 16 - 1,580 i h m ....... TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,680,573 4* ¿9 ,382 +3,387,609 Ratio of total reserves to deposit and F. R. note liabilities combined 86.5% + #3% + 2.9% Contingent liability on bills purchased for foreign correspondents — - 240 — Commitments to make industrial advances 9,643 157 - 4,685 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 NOVEMBER 29, 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 14,966,121 834,722 7,070,591 304,481 946,701 398,91.5 279,190 2,539,101 423,155 246,514 34.5,444 229,216 848,091 Redemption fund - F.R.notes 9,866 1,014 976 1,234 939 841 800 767 802 233 504 381 1,375 Other cash 320,766 26,315 74,373 25,768 21,366 22,718 19,248 39,404 15,228 8,850 17,469 16,201 33,826 Total reserves 15.296.753 862,051 7,145,940 831,483 969,006 422,474 299,238 2,579,272 439,135 255,597 363,4-17 245,798 883,292 Bills discounted: Secured by U. S. Gov’t obligations direct ana guaranteed 1,817 205 780 223 188 84 100 133 15 70 — . 4 15 Other bills discounted 6,209 — 2,183 468 550 250 271 629 210 179 980 141 348 Total bills discounted 8.026 205 2,963 691 7 38 334 371 762 225 249 980 145 363 Industrial advances 11,393 1,416 1,974 3,135 317 995 671 444 7 804 183 509 938 U. S. Government securities, direct and guaranteed? Bonds 1,283,447 93,086 400,850 110,013 133,820 66,083 51,631 140,826 43,361 34,652 57,504 46,298 105,323 Notes 1,233,225 89,442 385,165 105,709 128,583 63,498 49,610 135,316 41,663 33,297 55,254 44,485 101,203 Bills 35,425 2,569 11,064 3,037 3,694 1,824 1,425 3,887 1,197 956 1,587 1,278 2,907 Total U. S. Gov*t securities, direct and guaranteed 2,552,097 185,097 797,079 218,759 266,097 131,405 102,666 280,029 86,221 68,905 114,345 92,061 209,433 Total bills and securities 2,571,516 186,718 802,016 222,585 267,152 132,734 103,708 281,235 86,453 69,958 115,508 92,715 210,734 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 20,728 524 2,060 1,026 1,583 2,606 1,869 3,016 1,320 1,194 1,258 466 3,806 Uncollected items 678,043 69,250 171,330 50,181 84,637 55,590 23,309 90,848 27,329 16,983 29,290 23,647 35,649 Bank premises 42,016 2,894 8,888 4,583 5,881 2,551 2,037 3,871 2,246 1,498 3,119 1,259 3,189 Other assets 71,470 4,664 22,627 6,275 7,840 4,114 3,057 7,180 2,243 1,959 3,003 2,496 6,012 TOTAL ASSETS 18,680,573 1,126,104 8,152,879 1,116,138 1,336,103 620,071 433,220 2,965,428 558,777 347,189 515,596 366,382 1,142,686 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON NOVEMBER 29, 1939 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta F.R.notes in actual cir­ culation 4,845,292 405,489 1,224,651 341,013 450,834 228,306 158,816 383,719 Deposits: Member bank-reserve account 11,619,749 535,942 6,132,689 592,334 651,585 275,930 202,636 623,687 U.S.Treasurer-General account 440,949 39,318 119,560 51,255 65,332 22,121 14,307 29,531 24,150 15,150 17,047 18,014 25,164 Foreign bank 407,274 29,514 143,601 39,764 38,124 17,627 14,348 49,602 11,888 9,428 11,888 11,888 29,602 Other deposits 368,357 24,268 261,693 10,746 11,890 4,348 7,485 4,187 8,514 6,504 468 4,70c 23,546 Total deposits 12,836,329 629,04-2 6,657,543 694,099 766,931 320,026 238,776 1,769,052 331,114 184,04-1 294,138 249,568 701,999 Deferred availability items 644,310 67,085 147,470 47,777 84,801 56,560 22,634 91,905 27,485 14,394 30,124 22,44-1 31,634 Other liabilities including accrued dividends 5,980 383 2,646 636 470 148 211 548 157 149 211 136 285 TOTAL LIABILITIES 18,331,911 1,101,999 8,032,310 1,083,525 1,303,036 605,040 420,437 2,921,100 548,107 338,030 505,431 355,259 1,117,637 C A P I T A L A C C O U N T S Capital paid in 134,935 9,383 50,919 12,115 13,823 5,118 4,566 13,065 4,039 2,927 4,308 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 1,265 2,121 Other capital accounts 37,311 1,765 9,730 2,386 3,914 _ 1i.637 1,874 _ 7*168. 1,401 2,078 1,102 . 1*914.___ 2*342 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,680,573 1,126,104 8,152,879 1,116,138 1,336,103 620,071 433,220 2,965,428 558,777 347,189 515,596 366,382 1,142,686 Commitments to make industrial advances 9,643 475 1,882 922 1,248 825 78 22 409 64 550 3,168 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within l6 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over üotal 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 8,0.26 3,275 2,088 220 1,706 690 47 Industrial advances 11,393 1,282 469 956 442 827 2,225 2,850 2,342 U. S. Government securities, direct and guaranteed 2,552,097 35,425 161,705 136,783 342,221 685,387 1,190,576 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-d FEDERAL RESERVE NOTE STATEMENT OH NOVEMBER 29, 1939 (in thousands of dollars) Total Boston Hew lork 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 5,122,9-48 424,805 1,305,335 360,289 471,06l 240,980 170,903 1,085,807 201,181 143,563 189,424 90,864 438,736 Held by Federal Reserve bank 277,656 19,316 80,684 19,276 20,227 12,674 12,087 26,212 11,830 4,117 8,466 7,750 55,017 In actual circulation 4,845,292 405,489 1,224,651 341,013 450,834 228,306 158,816 1,059,595 189,351 139,446 180,958 83,114 383,719 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,224,000 440,000 1,325,000 370,000 474,000 245,000 174,000 1,100,000 203,000 145,500 190,000 93,500 464,000 eligible paper 2,402 205 871 223 — 127 — — 85 123 768 — — Total collateral 5,226,402 440,205 1,325,871 370,223 474,000 245,127 174,000 1,100,000 203,085 145,623 190,768 93,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis