H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR—283 STATELiEliT FDR THE PRESS Released for publication Board of Governors Friday morning, Dec. 22; of the Federal Reserve System not earlier. December 21, 1939 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 20 member bank reserve balances increased $90,000,000. Additions to member bank reserves arose from a decrease of $59,000,000 in Treasury deposits with the Federal Reserve banks and increases of $112,000,000 in gold stock, $102,000,000 in Reserve bank credit and $5,000,000 in Treasury currency, offset in part by increases of $115,000,000 in money in circulation, $13,000,000 in Treasury cash and $59,000,000 in nonnejber deposits and other Federal Reserve accounts* Excess reserves of member banks on December 20 were estimated to be approximately $4,900,000,000, an increase of $50,000,000 for the: week. Holdings of United States Government bonds, direct and guaranteed, de­ clined $16,000,000 during the reek. Changes in ipember bank reserve balances and related items during the week and the year/D^ft&Srier 20, 1939, were as follows j Increase or decrease ince Dec. 20, Dec • 1 , Dec, 21j 1939 1939' 1938 (in millions of dollars) Bills discounted 8 . Bills bought — — - U, S. Gov't securities, direct and guaranteed 2,496 - 16 - 68 Industrial advances (not including 9 million — comaitments - December 20) 11 5 Other Reserve bank credit 129 +U.7 + 61 Total Reserve bank credit 2,645 +102 - 11 Gold stock 17,576 +112 +3,122 Treasury currency 2,959 + 5 + 171 Llember bank reserve balances 11,378 + 90 +2,906 Money in circulation 7,679 +115 + 736 Treasury cash 2,411 + 13 - 266 Treasury deposits with F. R. banks 694 - 59 - 331 Nonriember deposits and other F, R. • accounts 1,018 + 59 + 237 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR-283-a Released for publication Friday norning, Dec. 22,1939; not earlier, STATEMENT OF CONDITION OF THE T1$LVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Dec. 20, Dec. 13, Dec. 21, 1939 1939 ,_1938 A S S E T S Gold certificates on hand and due from U. S. Treasury 15,134,612 +109,993 +3,371,892 Redemption fund - F. R. notes 9,973 440 + 100 Other cash 254,429 - 48,279 - 51,534 Total reserves 15,399,014 + 61,274 +3,320,458 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 1,677 + 112 4,291 Other bills discounted 6,787 + 300 + 4,462 Total bills discounted 8,464 + 4.12 + 171 Bills bought in open market 549 — — Industrial advances 11,139 4 4,394 U. S. Government securities, direct and guaranteed* Bonds 1,263,197 - 15,750 + 422,304 Notes 1,233,225 — + 106,322 Bills — - 596,,219 — Total U. S. Government securities, direct and guaranteed 2,496,422 - 15,750 - 67,593 Total bills and securities 2,516,025 - 15,342 - 72,365 Due from foreign banks 47 — - 125 F. R, notes of other banks 25,916 + 2,217 - 169 Uncollected items 877,909 +103,796 + 88,867 Bank premises 42,185 + 210 - 1,911 Other assets 59,644 - 16,786 + 16,688 T O T A L A S S E T S 18,920,740 +135,369 +3,351,¿43 L I A B I L I T I E S F, R. notes in actual circulation 4,979,850 + 74,417 +.’,496,64-8 Depositsi Member bank - reserve account 11,378,164 + 90,556 +2,906,185 U. S. Treasurer - General account 693,565 - 59,015 - 331,228 Foreign bank 412,759 + 37,669 + 217,479 Other deposits 3.5.1,922 + 8.345 + ,.JÂ.û9â Total deposits 12,836,411 + 77,555 +2,825,742 Deferred availability items 748,900 - 13,147 + 27,482 Other liabilities including accrued dividends 5.260 ~ ..1*977 - 236 ____________ T O T A L L I A B I L I T I E S 18,570,421 +134,848 +3>349,636 C A P I T A L A C C O U N T S Capital paid in 135,434 * 73 + 994 Surplus (Section 7) 149,152 - + 1,413 Surplus (Section 13b) 27,264 - - 4-19 Other capital accounts 38,4-69 + 448 - 181 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,920,740 +135,369 +3,351,4^3 Ratio of total reserves to deposit and F. R. note liabilities combined 86.4$ — + 3.1* Contingent liability on bills purchased for foreign correspondents --- 76 — - Commitments to make industrial advances 9,274 7 4 - 5,574 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATELIEST OF CONDI:tion of the FEDERAL RESERVE banks 01;i DECEMBER 20, 1939 (in thousands of dollars) A S S E T S Total Boston New York Phila. Cleve. Eich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U.S.Treasury 15,13-4,612 875,348 6,945,211 836,044- 1,005,974 414,197 299,06l 2,667,772 4-25,S U 257,616 349,528 238,924 819,123 Redemption fund — F.R.notes 9,973 924 1,619 1,153 816 909 745 624 772 219 478 373 1,336 Other cash 254,429 24,104 63,774 21,72.6 12,509 13,596 11,438 32,143 13,214 7,774 14,008 13,574 26,569 Total reserves 15,399,01^ 900,376 7,010,604 353,923 1,019,299 42.3,702 311,244 2,700,539 439,800 265,609 36/;, 014 252,871 847,028 Bills discounted* Secured by U. S. Gov’t obligations, direct and guaranteed 1,677 130 53 S 270 168 93 120 99 120 90 10 4 35 Other bills discounted 6,787 — 2,320 646 582 295 286 64-9 216 223 1,063 146 361 Total bills discounted 8.464 130 2,858 916 750 388 406 743 336 313 1,073 150 396 Industrial advances 11,139 1,361 2,025 3,077 324 948 703 323 6 767 I83 505 917 U. S. Government securities, direct and guaranteed* Bonds 1,263,197 91,701 392,715 108,174 131,791 65,431 51,004 138,337 4-2,798 34,258 56,970 45,746 103,772 Notes 1,233,225 89,525 383,398 105,607 128,663 63,880 49,795 135,542 41,782 33,445 55,618 44,661 101,309 Total U. S. Gov't securities. direct and guaranteed 2.496.422 181,226 776,113 213,731 2.60,454 129,311 100,799 274,379 84,580 67,703 112,588 90,407 205,081 Total bills and securities 2,516,025 182,717 780,996 217,774 261,528 130,647 101,908 ,275,450 84,922 68,783 113,344 91,062 206,394 Due from foreign banks 47 3 18 5 h 2 2 6 1 # 1 1 4 F. R. notes of other banks 25,916 741 3,665 1,003 1,914 2,613 2,380 3,446 2,722 1,233 2,133 606 3,375 Uncollected items 877,909 77,749 220,047 70,822 105,195 75,401 34,980 117,491 39,931 22,526 37,340 31,393 45,034 Bank premises 42,185 2,894 8,867 4,573 5,881 2,551 2,266 3,362 2,248 1,498 3,106 1,259 3,180 Other assets 59,644 • 3,921 18,847 5,091 6,711 3,567 2,347 5,984 1^858 1,648 2,435 2,092 5,093 TOTAL ASSETS 13,920,740 1,168,401 8,043,044 1,153,196 1,400,532 643,433 4-55,127 3,106,778 571,482 361,297 522,928 379,364 1,110,108 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

i'orn FR-233-C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 20, 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. Krtns.Cy. Dallas San Fran. r.R. notes in actual cir­ culation 4,979,850 411,775 1,263,887 352,719 470,088 234,994 165,293 1,085,596 193,895 141,562 184,317 85,251 390,473 depositss Member bank-reserve account 11,378,lo4 542,942. 5,850,974 538,367 648,680 287,196 204,964 1,765,4-95 279,289 155,770 261,018 209,647 583,822 U.S.Treasurer—General account 693,565 80,703 202,389 75,899 111,718 25,057 20,766 50,024 33,421 20,914 20,777 25,967 25,930 Foreign bank 412,759 29,434 149,649 39,674 38,038 17,587 14,315 49,490 11,861 9,407 11,861 11,861 29,582 Other deposits 351,923 6,922 265,325 13,441 8,410 3,106 6,386 6,131 6,508 7,155 921 7,652 19,966 Total deposits 12,036,411 660,001 6,468,337 717,381 806,846 332,946 246,431 1,871,140 331,079 193,246 294,577 2.55,127 659,300 Deferred availability items 748,900 71,989 187,851 54,871 89,910 60,300 30,411 104,643 35,683 17,133 33,607 27,659 34,843 Other liabilities including accrued dividends 5,260 434 1,988 491 519 150 206 526 129 158 204 149 306 TOTAL LIABILITIES 18,570,421 1,144,199 7,922,063 1,125,462 1,367,363 628,390 442,341 3,061,905 560,786 352,099 512,705 368,186 1,084,922 C A P I T A L A C C O U ' N T S Capital paid in 135,434 9,383 50,955 12,115 13,830 5,149 4,576 13,445 4,058 2,930 4,314 4,052 10,627 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 38,469 1,862 10,106 2,507 4,009 ,1,668 1,867 7,333 1,4-08 2,114 1,154 1,968 2,473 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,920,740 1,168,401 8,043,044 1,158,196 1,400,532 643,483 455,127 3,106,778 571,482 361,297 522,928 379,364 1,110,108 Commitments to make industrial advances 9,274 422 1,808 920 1,187 771 78 22 388 63 543 — 3,072 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l 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 8,464 2,048 169 605 4,550 1,068 24 ——. Industrial advances 11,139 2,136 209 274 271 870 2,373 2,846 2,160 U. S. Government securities, direct and guaranteed 2,496,422 — — 161,705; 136,783 105,974 280,315 638,018 1,172,827 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283-d. FEDERAL RESERVE NOTE STATEMENT OH DECEMBER 20, 1939 (in thousands of dollar??) Total Boston Hew 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 5,259,180 431,518 1,34-9,165 368,156 488,843 246,398 177,715 1,118,347 204,465 146,177 192,929 92,108 443,359 Held by Federal Reserve bank 279,330 19,743 85,278 15,437 18,755 11,404 12,422 32,751 10,570 4,615 8,612 6,857 52,836 In actual circulation 4,979,850 411,775 1,263,887 352,719 470,088 234,994 165,293 1,085,596 193,895 141,562 184,317 85,251 390,473 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,354,000 440,000 1,370,000 375,000 489,000 250,000 180,000 1,140,000 209,000 147,500 195,000 94,500 464,000 Eligible paper 2,487 130 644 300 — 172 — — 190 165 886 — — Total collateral 5,356,487 440,130 1,370,644 375,300 489,000 250,172 180,000 1,140,000 209,190 147,665 195,886 94,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis