H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Jan. 12j of the Federal Reserve System not earlier. January 11, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 10 member bank reserve balances increased $109,000,000• Additions to member bank reserves arose from decreases of $118,000,000 in money in circulation and $26,000,000 in Treasury cash, and increases of $50,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by a decrease of $60,000,000 in Reserve bank credit and increases of $4,000,000 in Treasury deposits with Federal Reserve banks and $23,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves of member banks on.January 10 were, estimated to be approximately $5,380,000,000, an increase of $110,000,000 for the vreek f Holdings of United States Government bonds, direct and guaranteed, declined $7,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended January 10, 1940, were as follows 1 Increase or decrease since Jan 10 Jan, 3, Jan U, # f # 1940 1940 1939 (In millions of dollars) Bills discounted 7 — •+ 2 Bills bought — — 1 U« S Gov*t securities,direct and guaranteed 2,477 - 7 07 # Industrial advances (not including 3 million commitments - January 10) 11 — 5. Other Reserve bank credit 9 - 53 +2 Total Reserve bank credit 2,504 - 60 - 88 Gold stock 17,747 + 50 +3,170 Treasury currency 2,965 + 2 + 160 Member bank reserve balances 11,330 +109 +2,874 Money in circulation 7,463 -118 + 747 Treasury cash 2,341 - 26 - 371 Treasury deposits with F. P.. banks 655 + 4 - 218 Nannember deposits and other F,E. accounts 927 + 23 + 210 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~283~a Released for publication Friday morning, Jan, 12,1940? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decreas.e since Jan. 10, Jan. 3, Jan. 11, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S.Treasury 15,384,025 + 79,904 +3,516,305 Redemption fund - F. R. notes 9,903 — + 1,470 Oilier cash 370,419 + 54,850 - 47,606 Total reserves 15,764,347 +134,754 +3,470,169 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 606 17 - 2,029 Other bills discounted 6,236 + 51 + 4,117 Tot-il bills discounted 6,842 + 34 + 2,088 5x11s bought in open market — — - 549 luunatrial advances 1100,,884433 40 - 4,707 U, 3 Government securities, direct and guaranteed* Bonds 1,344,045 - 7,000 + 503,152 Notes 1,133,225 — - 46,352 Bills — — - 543,545 Total U» S. Government securities. direct and guaranteed 2,477,270 - 7,000 — 86,745 Total bills and securities 2,494,955 - 7,006 - 89,913 rv.e from foreign banks 47 — 125 F . R. notes of other banks 30,623 + S33 - 4,914 Uncollected items 618,796 -222,299 + 21,056 Sr^ik premises 41,735 1 - 1,193 Other assets 59,104 + 811 + 13,131 T O T AL A S S E TS 19,009,607 - 92,908 +3,408,2.11 L I A B I L I T I ES F. R. notes in actual circulation 44,,888866,,222299 -- 6611,,553344 + 551111,,226677 Deposits t Lienber bank - reserve account 11,829,930 +109,308 +2,873,791 TJ,S. Treasurer - General account 655,434 + 4,359 - 217,509 Foreign bank 409,375 + 6,950 + 232,608 Other deposits 267,376 + 16,304 - 15,336 Total deposits 13,162,115 +136,921 +2,873,554 farred availability items 609,799 -169,273 + 18,531 o'Vaer liabilities including accrued dividends 1,51s + 186 - 780 T O T AL L I A B I L I T I ES 18,659,661 - 93,705 +3,402,572 C A P I T AL A C C O U N TS Capital paid in 136,041 + 152 + 1,130 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13b) 26,839 — - 425 Other capital accounts 35,346 + 645 + 2,366 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,009,607 - 92,908 +3,408,211 Ratio of total reserves to deposit and F. R. note liabilities combined 87.3$ + .3% + 3.5% Commitments to make industrial advances 8,403 51 - 4,936 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAlilLS Oil JANUARY 10, 1940 (In thousands of dollars) A S S E TS Total Boston New York PliLla. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 15,384,025 886,976 7,383,927 866,402 1,012,103 407,936 292,910 2,482,656 389,832 248,769 350,313. 233,421 828,782. Redemption fund ~ F.R.notes 9,903 924 1,619 1,071 816 935 745 624- 772 219 478 364 1,336 Other cash 370,419 34,351 86,987 29,2.58 22,605 24,320 22,517 47,729 19,100 9,698 20,119 16,083 37,652 Total reserves 15.764.347 922,251 7,472,533 396,731 1,035,524 433,191 316,172 2,531,009 409,704 258,686 370,908 249,868 867,770 Bills discounted* Secured by U.S. Gov't obligations, direct and guaranteed 606 — 135 143 113 41 20 24 —_ 60 35 — 35 Other bills discounted 6,236 — 2,228 561 542 261 231 638 196 194 868 151 366 Total bills discounted 6,842 — 2,363 704 655 302 251 662 196 254 903 151 401 Industrial advances 10,343 11,,229966 22,,004411 33,,112233 295 947 694 323 11 737 169 487 720 U. S. Government securities, direct and guaranteed* Bonds 1,344,045 96,123 408,181 110,221 137,084 68,135 54,495 144,872 60,273 39,771 62,397 51,196 110,797 Notes 1,133,225 81,047 344,156 92,934 115,581 57,447 45,945 122,148 50,818 33,533 53,031 43,167 93,418 Total U.S. Gov't securities. direct and guaranteed 2,477,270 177,170 752,337 203,155 252,665 125,582 100,440 267,020 111,091 73,304 115,928 94,363 204,215 Total bills and securities 2,494,955 178,466 756,741 206,982 253,615 126,831 101,385 268,005 111,298 74,295 117,000 95,001 205,336 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 30,623 998 4,639 1,372 1,653 4,841 3,123 3,125 2,568 1,871 1,911 889 3,633 Uncollected items 618,796 64,695 145,034 46,809 69,921 51,450 27,868 86,098 2.9,460 16,680 28,539 22,731 29,511 Bank premises 41,735 2,839 9,895 4,573 5,547 2,545 2,034 3,390 2,242 1,396 3,093 1,175 2,956 Other assets 59,104 3,909 17,386 4,883 6,563 3,551 2,375 5,999' 2,502 1,787 2,656 2,267 5,226 TOTAL ASSETS 19,009,607 1,173,211 8,406,246 1,161,355 1,372,827 622,411 452,959 2,897,632. 557,775 354,715 524,108 371,932 1,114,436 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

kxrm FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE B/MS OF JMWMT 10, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. iT.R. notes in actual circulation 4,836,229 403,476 1,241,394 345,624 460,335 222,648 160,036 1,075,520 190,900 139,900 181,493 81,998 382,905 Deposits t Member bank-reserve accountll^>29,930 592,980 6,436,686 623,411 682,756 291,712 208,654 1,470,607 283,566 152,^95 268,090 218,301 600,772 ' U.S.Treasurer-General account655,434 52,840 149,824 55,458 82,227 23,457 24,797 145,775 23,824 22,720 24,143 21,446 2.8,923 Foreign bank. 409,375 30,192 138,725 41,114 39,017 18,040 14,684 50,344 12,586 9,230 12,166 12,586 30,691 Other deposits 267,376 8,063 179,005 18,416 8,650 3,040 6,573 4,305 7,162 6,866 1,427 3,839 20,030 rotal deposits 13,162,115 684,075 6,904,240 738,399 812,650 336,249 254,708 1,671,031 327,138 191,211 305,826 256,172 680,416 Deferred availability items 609,799 61,185 138,967 44,364 66,795 48,375 25,468 106,312 28,940 14,414 26,399 22,566 26,014 ither liabilities including accrued dividends 1,518 186 455 195 161 39 24 181 22 90 91 54 20 TOTAL LIABILITIES 18,659,661 1,148,922 8,285,056 1,128,582 1,339,941 607,311 440,236 2,853,044 547,000 345,615 513,809 360,790 1,089,355 C A P I T AL A C C O U N TS Capital paid in 136,041 9,403 51,141 12,116 13,955 5,179 4,647 13,534 4,080 2,940 4,324 4,067 10,655 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,725 22,824 47709 3,152 3,613 3,974 10,224 Surplus (Section 13b) 26,839 2,874 7,109 4,393 1,007 3,246 713 1,429 538 1,001 1,142 1,266 2,121 )ther capital accounts 35,346 1,607 9,614 2,066 3,601 1,428 1,638 6,801 1,448 2,007 1,220 1,835 2,081 :0TAL LIABILITIES iBD CAPITAL ACCOUNTS 19,009,607 1,173,211 8,406,246 1,161,355 1,372,827 622,411 452,959 2,897,632 557,775 354,715 524,108 371,932 1,114,436 Commitments to make industrial advances 8,403 460 1,793 345 1,083 759 77 20 152 62 532 — 3,120 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 Jills discounted 6,842 796 205 1,563 3,814 446 18 Industrial advances 10,843 1,407 154 205 522 1,126 2,870 2,416 2,143 ~ J. S. Government securities, direct and guaranteed 2,477,270 136,783 105,974 280,315 696,524 1,257,674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE-283-d FEDERAL RESERVE IIOTE STATEMENT CK JANUARY 10, 1940 (in thousands of dollars) Total Boston Nev; York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Kinn. Kanr.Cy. Dallas San Fran*1 Federal Reserve notest Issued to F R. bank by F.R.agent 5,227,565 429,109 1,337,487 367,665 485,680 239,686 175,531 1,118,771 203,690 145,570 192,352 90,826 440,698 t Held by Federal Reserve bank 341,336 25,633 96,093 22,041 25,345 17,038 15,495 43,251 12,790 5,670 11,359 S,G28 57,793 In actual circulation 4,886,229 403,476 1,241,394 345,624 460,335 222,648 160,036 1,075,5.20 190,900 139,900 181,493 81,998 382,905 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 5,341,000 440,000 1,355,000 375,000 491,000 250,000 180,000 1,140,000 209,000 147,500 195,000 94,500 464,000 Eligible paper 1,374 —• 219 156 — 87 — — 45 118 749 — Total collateral 5,342,374 440,000 1,355,219 375,156 491,000 250,087 180,000 1,140,000 209,045 147,618 195,749 94,500 /64,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis