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, 19; of the Federal Reserve System not earlier. January 18, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 17 member bank reserve balances increased $190,000,000. Additions to member bank reserves arose from decreases of ,000,000 in money in circulation and $80,000,000 in Treasury deposits with Federal Reserve banks, and increases of $58,000,000 in gold stock, $11,000,000 in Reserve bank credit, and'$3,000,000 in Treasury currency, offset in part by an increase of $20,000,000 in Treasury cash. Excess reserves of member banks on January 17 were estimated to be approximately $5,500,000,000, an increase of $120,000,000 for the week. Changes in member bank reserve balances and related items during the "week and the year ended January 17, 1940, were as followst Increase or decrease, since Jan. 17, Jan. 10, Jan. 18, 1940 1940 1939 (In millions of dollars) Bills discounted 7 — +3 Bills bought — — - 1 U. S. Gov't securities,direct and guaranteed 2,477 - 87 Industrial advances (not including 8 million comnitments - January 17) 11 — < ^4 Other Reserve bank credit 20 +11 + 17 Total Reserve bank credit 2,515 +11 - 73 Gold stock 17,805 + 58 +3,190 Treasury currency 2,968 +3 +158 Member bank reserve balances 12,020 +190 +2,890 Honey in circulation 7,405 - 58 + 739 Treasury cash 2,361 + 20 ^ 365 Treasury deposits with F. E. banks 575 - 80 - 225 Nonmember deposits and other F. R, accounts 928 + 1 + 237 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~283~a Released for publication Friday morning, Jan. 19,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Jan. 17, Jail. 10, Jan. 18, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 15,433,121 + 49,096 +3,536,847 Redemption fund - F. R. notes 9,385 518 + 192 Other cash 386,451 + 16*022 - 48,779 Total reserves 15,828,957 + 64,610 +3,488,260 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 593 13 1,662. Other bills discounted 6,303. + 67 + 4,197 Total bills discounted 6,896 + 54 + 2,535 Bills bought in open market 556 Industrial advances 10,893 + 50 4,497 U. S. Government securities, direct and guaranteed: Bonds 1,344,045 + 503,152 Hotes 1,133,225 76,706 Bills 513,191 Total U. S. Government securities, direct and guaranteed 2,477,270 — - 86,745 Total bills and securities 2,495,059 + 104 - 89,263 Due from foreign banks 47 119 F. R. notes of other banks 27,895 - 2,728 3,194 Uncollected items 731,253 +112,457 + 70,492 Bank premises 41,736 + 1 + 1,189 Other assets 59,877 + 773 12,528 T O T AL A S S E TS 19,184,824 +175,217 +3,477,515 L I A B I L I T I ES F, R. notes in actual circulation 4,849,757 - 36,472 + 511,340 Deposits: Llenber bank - reserve account 12,019,594 +189,664 +2,889,185 U.S. Treasurer - General account 574,794 - 80,640 - 225,156 Foreign bank 395,767 - 13,60o + 237,054 Other deposits 282,519 + 15,143 + 6,583 Total deposits 13,272,674 +110,559 +2,907,666 Deferred availability items 711,207 +101,408 + 53,531 Other liabilities including accrued dividends 1,498 20 710 T O T AL L I A B I L I T I ES 18,835,136 +175,475 +3,471,827 O A P l f AL A Q C O y N TS Capital paid in 135,936 105 + 1,118 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 + 425 Other capital accounts 35,193 - 153 JJ&L TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,184,824 +175,217 +3,477,515 Ratio of total reserves to deposit and F. R. note liabilities combined 87.3% + 3.4% Commitments to make industrial advances 8,294 109 - 4,837 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FP-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 17, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mirm. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 15,433,121 866,224 7,543,917 843,954 984,788 403,153 296,545 2,443,475 402,605 244,866 344,000 230,658 828,936 Redemption fund - F.R.notes 9,385 857 1,327 949 740 1,209 703 519 753 209 460 353 1,306 Other cash 386,451 36,418 89,040 31,531 26,181 25,001 21,506 51,960 18,712 9,788 19,652 16,435 40,227 Total reserves 15,828,957 903,499 7,634,284 876,434 1,011,709 429,363 318,754 2,495,954 422,070 254,863 364,112 247,446 870,469 Bills discountedi Secured by U. S.Gov't obligations, direct and guaranteed 593 25 200 105 113 31 10 — 40 45 4 20 Other bills discounted 6,303 — 2,224 550 542 296 230 638 236 199 872 150 366 Total bills discounted 6,896 25 2,424 655 655 327 240 638 236 239 917 154 386 Industrial advances 1100,,889933 11,,334422 22,,0044ll 33,,112233 330033 994422 669933 333311 1111 773322 116688 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 62,897 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 9 Total bills and securities 2.495,059 178,537 756,802 206,933 253,623 126,851 101,373 267,989 111,338 74,275 117,013 95,004 205,321 Due from foreign banks jrj ^ 18 5 4 2 2 6 1 1 1 4 F. R. notes of other banks 27 895 894 4,266 1,128 1,982 3,889 2,646 3,446 1,669 1,940 1,699 649 3,687 Uncollected items 731*253 74,935 185,131 53,052 87,664 57,735 28,940 99,763 30,972 17,328 30,750 28,666 36,317 Bank premises ^ ? 6 2 gg9 9,895 4,573 5,547 2,545 2,034 3,390 2,243 1,396 3,093 1,175 2,956 Other assets 59 877 3.961 17,519 4,961 6,638 3,569 2,429 6,113 2,537 1,820 2,700 2,343 5,287 TOTAL ASSETS 19,184,824 1,164,718 8,607,915 1,147,086 1,367,167 623,954 456,178 2,876,661 570,830 351,622 519,368 375,284 1,124,041 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 17, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R. notes in actual circulation 4,849,757 399,870 1,237,186 343,433 453,124 220,082 159,226 1,066,741 190,731 139,245 130,675 81,078 378,366 Deposits * Member bank-reserve account ]2pi9,594 600,701 6,571,632 634,498 692,170 293,857 213,022 1,461,293 295,298 152,630 268,693 219,604 616,196 U.S.Treasurer-General account574,794 31,056 180,325 27,909 58,465 19,556 22,474 132,802 22,148 20,174 17,350 20,221 22,314 Foreign bank 395,767 29,477 136,530 39,283 37,278 17,236 14,029 48,101 12,025 8,819 11,624 12,025 29,340 Other deposits 282,519 7,340 197,549 17,247 8,398 2,234 6,429 4,085 7,617 6,429 1,068 3,557 20,566 Total deposits 13,272,674 668,574 7,086,036 ,718,937 796,311 332,883 255,954 1,646,2G1 337,088 188,052 298,735 255,407 688,416 Deferred availability items 711,207 71,779 163,171 51,938 84,666 55,846 28,248 118,872 32,224 15,133 29,567 27,597 32,166 Other liabilities including accrued dividends 1,498 200 255 226 2.23 21 29 233 26 98 95 59 33 TOTAL LIABILITIES 18,835,136 1,140,423 8,486,643 1,114,534 1,334,324 608,832 443,457 2,832,127 560,069 342,528 509,072 364,141 1,098,981 C A P I T A L' A C C O U N TS Capital paid in 135,936 9,406 5511,,114477 11,911 1133,,996644 55,,119911 4,651 1133,,554400 4,40,80877 2,948 4,352 4,081 10,658 Surplus (Section 7) 151,720 10,405 5533,,332266 14,198 1144,,332233 55,,224477 5,725 2222,,882244 4,47,07099 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 Other capital accounts 35,193 1,610 9,685 2,050 3,549 1,438 1,632 6,741 1,427 1,993 1,189 1,822 2,057 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,184,824 1,164,718 8,607,915 1,147,086 1,367,167 623,954 456,178 2,876,661 570,830 351,622 519,368 375,284 1,124,041 Commitments to make industrial advances 8,294 405 1,789 343 1,067 742 77 20 152 63 525 — 3,111 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 6,896 821 135 5,199 376 347 18 Industrial advances 10,893 1,470 105 283 500 1,110 2,932 2,364 2,129 U. S. Government securities, direct and guaranteed 2,477,270 136,783 105,974 281,368 695,471 1,257,674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE-283-d FEDERAL RESERVE HOTE STATEMENT OH JANUARY 17, 1940 (in thousands of dollars) Total Boston New York 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 5,204,261 426,785 1,335,510 365,156 483,750 236,976 174,046 1,114,474 203,116 145,726 190,°59 89,946 438,517 Held by Federal Reserve bank 354,504 26,915 98,.324 21,723 30,626 16,894 14,830 47,733 12,385 6,4C1 9,584 8,868 60,151 In actual circulation 4,849,757 399,870 1,237,186 343,433 453,124 220,082 159,226 1,066,741 190,731 139,245 180,675 81,078 378,366 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,329,000 440,000 1,355,000 375,000 491,000 250,000 180,000 1,130,000 209,000 147,500 195,000 92,5 04064,000 Eligible paper 1,423 25 280 113 — 112 — — 35 94 764 — — Total collateral 5,330,423 440,025 1,355,280 375,113 491,000 250,112 180,000 1,130,000 209,035 147,594 195,764 92,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis