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, Dec. 15; of the Federal Reserve System not earlier. December 14, 1939 CONDITION OF THE FEDE?JLL RESERVE BJ11ÎKS During the week ended December 13 member bank reserve balances decreased $329,000,000. Reductions in member bank reserves arose from increases of $407,000,000 in Treasury deposits with Federal Reserve banks, $19,000,000 in money in circulation and $7,000,000 in Treasury cash and a decrease of $25,000,000 in Reserve bank credit, offset in part by increases of $56000,000 in gold stock, $5,000,000 in Treasury currency and a decrease of $67,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of mem­ ber banks on December 13 were estimated to be approximately $4,6*50,000,000, a decrease of $300,000,n00 for the week. Changes in member bank reserve balances and related items during the week and the year ended December 13, 1939, were as follows: Increase or decrease since Dec. 13, Dec. 6, Dec. 14. 1939 .. 19JS9 1938 (in millions of do 11 firs) Bills discounted 8 . - + 3. Bills bought — — 1 U. S. Gov't securities,direct and guaranteed 2,512 — - 52 Industrial advances (not including 9 million commitments - December 3.3) 11 — 5 Other Reserve bank credit 12 - 24 1 Total Reserve bank credit 2,543 - 25 - 57 Gold stock 17,464 + 56 +3,084 Treasury currency 2,954 + 5 + 170 Member bank reserve ba3„ances 11,288 — ^>00 +2,254 Money in circulation 7,564 + 19 + 706 Treasury cash 2,398 + 7 - 253 Treasury deposits with F. R. banks 753 +407 + 340 Nonmember deposits and other F. R. accounts 959 - 67 + 150 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form PF.~2S3“a Released for publication Friday morning, Dec. 15,1939; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMMBBIINNEEDD (in thousands of dollars) Increase or decrease. ince Dec. 13» Dec. 6, Dec, 1^+, 1939 1939 19 3 C A S S E T S Gold certificates on hand and due from U. S. Treasury 15,024,619 + 38,497* +3:,310,901 Redemption fund - F. R. notes 10,413 + 547 + 821 Other cash 302,708 -222* — 37,021 Total reserves 15,337,740 + 38,8c55* +3,274,701 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed 1,565 92 .. r 2,897 Other bills discounted 6,487 + 68 + 3,952 Total bills discounted 8,052 24 4* 1,0 55 Bills bought in open market — — - 549 Industrial advances 11,143 244 4,430 U. S. Government securities, direct and guaranteed* Bonds 1,278,947 + 491,620 - Notes 1,233,225 + 65,660 Bills — - 609,123 Total U, S. Government securities, direct and guaranteed 2,512,172 51,843 Total bills and securities 2,531,367 268 - 55,767 Due from foreign banks 47 — 125 F. R. notes of other banks 23,699 + 2,085 — 1,339 Uncollected items 774,113 +117,622* - 15,954 Bank premises 41,975 — 2,131 Other assets 76,430 + 4,4(55 + 20,247 T O T A L A S S E T S 18,785,371 +162,709 +3,219,632 L I A B I L I T I E S F. R. notes in actual circulation 4,905,433 + 5,933 4r 472,466 Deposits* Member bank - reserve account 11,287,608 -328,909 +2,254,096 U. S. Treasurer - General account 752,580 +406,389 + 339,790 Foreign bank 375,090 - 23,354 4* 139,385 Other deposits -143.,578 42,818 - 21,584 Total deposits 12,758,856 + 11,288 +2,761,687 Deferred availability items 762,047 +141,863 - 15,449 Other liabilities including accrued dividends 9,237 + 3,113 — 346 T O T A L L I A B I L I T I E S 18,435,573 +162,197 +3,218,358 C A P I T A L ACCOUNTS Capital paid in 135,361 + 110 + 1,204 Surplus (Section 7) 149,152 — 4* 1,413 Surplus (Section 13b) 27,264 — - 419 Other capital accounts 38,021 + 402 - 924 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,785,371 +162,709 +3,2.19,632 Ratio of total reserves to deposit and F. R, note liabilities combined 86.8% + . *1$ + 3.256 Contingent, liability on bills purchased for foreign correspondents — — 76 Conun±.tjaonts to make industrial advances 9,348 144 5,601 *Dec. 6 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON DECEMBER 13, 1939 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis iiinn* Kans.Cy. Dallas San Fran. Gold certificates on hand and due froc U.S.Treasury 15,024,619 858,268 6,930,265 820,706 974,402 413,531 298,333 2,602,889 418,552 261,318 358,641 244,441 843,273 Redemption fund - F.R. notes 10,413 969 1,798 1,157 882 909 770 697 787 225 491 373 1,355 Other cash 302,708 26,476 73,240 23,223 17,366 18,869 17,290 36,195 15,746 9,562 16,714 16,022 32,005 Total reserves i^J-3'}7,74n 855,713 7,005,303 845,086 992,650 433,309 316,393 2,639,781 4-35,085 271,105 375,846 260,836 876,633 Bills discounted* Secured by U. S. Gov't obligations, direct -and guaranteed 1,565 45 660 190 168 74 70 114 145 70 — 4 25 Other bills discounted 6,487 2,355 503 553 243 286 626 210 175 1,048 140 348 Total bills discounted 8,052 4-5 3,015 693 721 317 356 740 355 245 1,048 144 373 Industrial advances 11,143 1,388 2,025 3,079 315 942 681 321 6 767 I83 507 929 U. S. Governnent securities, direct and guaranteed* Bonds ' 1,278,94-7 92,820 398,139 109,553 133,410 66,134 51,585 140,500 43,296 34,64-1 57,572 46,264 105,033 Notes 1,233,225 89,501 383,906 105,636 128,640 63,769 49,742 135,478 41,748 33,403 55,512 44,611 101,279 Total U. S.Gov't securities, direct and guaranteed 2,512,172 182,321 782,045 215,189 262,050 129,903 101,327 275,978 85,044 68,044 113,084 90,875 206,312 Total bills and securities 2,531*367 183,754- 787,085 218,961 263,086 131 ¡»162 102,364 277,039 85,405 69,056 114,315 91,526 207,614 Due fron foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 23,699 783 3,715 1,054 1,797 2,613 2,363 3,04*7 1,840 ■360 1,904 578 3,145 Uncollected itens 774,113 76,742 196,240 59,278 98,870 64,631 30,773 91,629 33,775 20,078 35,019 28,231 38,847 Bank premises 41,975 2,894 8,867 4,583 5,881 2,551 2,037 3,862. 2,248 1,498 3,106 1,259 3,189 Other assets 76,430 4,758 22,924 10,169 7,992 4,246 3,054 7,302 2,286 1,987 3,042 2,530 6,140 TOTAL ASSETS 18,785,371 1,154,647 8,024,152 1,139,136 1,370,280 638,514 456,986 3,022,666 560,640 364,584 533,233 384,961 1,135,572 *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 OH DECEMBER I3, 1939 (in thousands of dollars) L I A B I L I T 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 4,905,433 408,812 1,245,096 347,561 4-58,493 230,673 160,953 1,070,2.00 191,033 140,652 182,225 82,944 386,791 Deposits : Member bank-reserve accountH?287,608 536,635 5,838,525 570,066 638,456 285,496 208,281 1,701,205 272,278 155,866 2.61,392 218,789 600,619 U.S.Treasurer-General accotait 752,580 74,869 258,873 72,830 100,934 23,072 25,719 42,881 33,742 27,078 27,638 2.8,205 36,739 Foreign bank 375 y090 27,598 128,495 37,182 35,649 16,483 13,416 46,382 11,116 8,816 11,116 11,116 27,721 Other deposits 343,578 7,116 252,369 16,139 9,480 3,509 6,270 5,299 7,603 6,199 911 6,957 21,726 Total deposits 12,758,856 646,218 6,478,262 696,23.7 784,519 328,560 253,686 1,795,767 324,739 197,959.301,057 265,067 686,805 Deferred availability items 762,047 75,066 178,050 58,169 93,649 64,052 29,324 111,411 34,015 16,631 39,530 25,639 36,511 Other liabilities including accrued dividends 9,237 412 2,018 4,471 504 159 210 510 163 155 198 143 294 TOTAL LIABILITIES 18.435.573 1.130.508 7.903.4-26 1.106.418 1,337,165 623,444 444,173 2,977,888 549,950 355,397 523,010 373,793 1,110,401 C A P I T A L A C C O U N T S Capital paid in 135,361 9,383 50,952 12,115 13,827 5,146 4,568 13,^03 4,048 2,927 4,314 4,052 10,626 Surplus (Section 7) 14-9,152 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 7,4-57 4,4l6 1,007 3,2.93 713 1,429 545 1,001 1,142 1,266 2,121 Other capital accounts 38,021 1,799 9,854 2,491 3,958 1,648 1,902 7,280 1,412 2,106 1,154- 1,958 2,459 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,785,371 1,154,647 8,024,152 1,139,136 1,370,280 638,514 456,986 3,022,666 560,640 364,584 533,233 384,961 1,135,572 Commitments to make industrial advances 9,348 475 1,811 920 1,194 772 78 22 388 63 550 3,075 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 8,052 2,375 131 266 3,323 1,489 468 — Industrial advances 11,143 1,551 734 395 280 822 2,361 2,803 2,197 U. S. Government securities, direct and guaranteed 2,512,172 — — — — 161,705 136,783 342,221 682,887 1,188,576 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 13, 1939 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank by F.R.agent 5,203,595 426,732 1,339,419 366,300 479,135 242,326 173,003 1,103,117 202,604- 145,610 192,280 91,539 441,522 Held by Federal Reserve bank 298,162 17,920 94-,323 18,739 20,642 11,653 12,050 32,917 11,571 4,966 10,055 8,-595 54,731 In actual circulation 4,905,433 408,812 1,245,096 347,561 458,493 230,673 160,953 1,070,200 191,033 140,652 182,225 82,944- 386,791 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,298,000 440,000 1,355,000 370,000 481,000 250,000 177,000 1,115,000 209,000 147,500 195,000 94,500 464,000 Eligible paper 2,297 45 723 220 — 110 — — 215 122 862 — Total collateral 5,300,297 440,045 1,355,723 370,220 481,000 250,110 177,000 1,115,000 209,215 147,622 195,862 94,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis