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. 26; of the Federal Reserve System not earlier. January 25, 1940. CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 24 member bank reserve balances increased $128,000,000. Additions to member bank reserves arose from decreases of $40,000,000 in money in circulation and $68,000,000 in Treasury deposits with Federal Reserve banks and from increases of $74,000,000 in gold stock and $1,000,000 in Treasury currency, offset in part- by increases of $20,000,000 in Treasury cash and $34,000,000 in nonmeaber deposits and other Federal Reserve accounts* Excess reserves of member banks on January 24 were estimated to be approximately $5,590,000,000, an increase of $90,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended January 24, 1940, were as follows* Increase or decrease since Jan. 24, Jan. 17, Jan. 25, 1940 1940 1939 (in millions of dollars) Bills discounted 7 — + 2 Bills bought — — - 1 U«S. Gov!t securities, direct and guaranteed 22,,447777 — - 87 Industrial advances(not including 8 million commitments - January 24) 11 A — - Other Reserve bank credit 19 - 1 + 20 „ Total Reserve bank credit 2,514 - 1 69 Gold stock 17,879 + 74 +3 ,239 Treasury currency 2,969 + 1 + 157 Member bank reserve balances 12,148 +128 +2,982 Money in circulation 7,365 - 40 + 742 Treasury cash 2,381 + 20 - 373 Treasury deposits with F. R, banks 507 - 68 260 - Nonmember deposits and other F.R. accounts 962 + 34 + 236 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Jan. 26,1940; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Jan. 24, Jan. 17, Jan. 25, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S.Treasury 15,483,120 + 49,999 +3,577,903 Redemption fund - F. R. notes 8,602 7 83 - 1,591 Other cash 41,3,173 + 26,722 — 25,938 Total reserves 15,904,895 + 75,938 +3,540,374 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 6 M + 51 - 2,085 Other bills discounted + 54 + 4,391 Total bills discounted 7,001 + 105 + 2,306 Bills bought in open market — - 556 Industrial advances 1100,,991111 + 18 - 4,220 U. S* Government securities, direct and guaranteed: Bonds 1,344,045 — + 503,152 Notes 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 2,495,182 + 123 - 89,215 Due from foreign banks 47 —_ — 119 F # R. notes of other banks 26,266 - 1,629 - 4,041 Uncollected items 640,571 - 90,682 + 75,281 Bank premises 41,711 25 - 1,202 Other assets 60,70? + 826 + 12,665 T O T AL A S S E TS 19,169,375 - 15,44-9 +3,533,743 L I A B I L I T I ES P. R. notes in actual circulation 44,,882277,,775522 -- 2222,,000055 + 550088,,330011 Deposits? Member bank - reserve account 12,147,656 +128,062 +2 ,981,593 U. S« Treasurer - General account 507,485 - 67,309 - 259,694 Foreign bank 412,567 + 16,800 + 240,996 Other deposits 300,014 + 17,495 + 1,801 Total deposits 13,367,722 + 95,043 +2,964,696 Deferred availability items 662211,,995500 - 89,257 + 5555,,448833 Other liabilities including accrued dividends 1,991 + 493 - 435 T O T AL L I A B I L I T I ES 18,819,415 - 15,721 +3,528,045 C A P I T AL A C C O U N TS Capital paid in 135,954 + 18 + 1,113 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 35,447 + 254 + 2,44-2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,169,375 - 15,449 +3,533,743 Ratio of total reserves to deposit and F. R. note liabilities combined 87.4$ + .155 + 3*4$ Commitments to make industrial advances 8,395 + 101 - 4,609 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form PTl-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 24, 1940 (in thousands of doilars) A S S E TS Total Boston New lork Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury- 15,483,120 863,720 7,630,586 829,453 972,918 406,717 290,340 2,430,599 419,080 245,510 342,672 225,384 826,141 Redemption fund - F.R. notes 8,602 805 1,090 949 658 1,209 419 519 718 195 434 353 1,253 Other cash 413,173 37,125 96,968 33,083 28,147 28,558 2.4,936 53,351 19,027 9,908 22,095 16,^96 43,479 Total reserves 15,904,895 901,650 7,728,644 863,485 1,001,723 436,484 315,695 2,484,469 438,825 255,613 365,201 242,233 870,873 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed 644 25 235 123 113 44 10 — — 40 20 4 30 Other bills discounted 6,357 — 2,224 548 541 316 341 636 216 170 328 164 373 Total bills discounted 7,001 25 2,459 671 654 360 351 636 216 2,10 848 168 403 Industrial advances 10,911 11,,335533 2,041 33,,113300 330033 993344 669933 331 11 774433 167 485 720 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 Total bills and securities 2,495,182 178,548 756,837 206,956 253,622 126,876 101,484 267,987 111,318 74,257 116,943 95,016 205,338 Due from foreign banks 47 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 26,266 583 3,590 951 1,471 4,504 3,232 3,275 2,174 1,143 1,387 717 3,239 Uncollected items 640,571 64,602 154,674 48,360 73,714 46,656 30,496 90,443 28,736 15,492 28,044 25,879 33,475 Bank premises 41,711 2,889 9,895 4,573 5,535 2,545 2,030 3,390 2,243 1,396 3,093 1,175 2,947 Other assets 60,703 4,022 17,798 5,015 6,755 3,616 2,459 6,193 2,563 1,846 2,719 2,365 5,352 TOTAL ASSETS 19,169,375 1,152,297 8,671,456 1,129,345 1,342,824 620,683 455,398 2,855,763 585,860 349,747 517,388 367,386 1,121,228 *Less than $500, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~28>~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 2A, 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 4,827,752 397,825 1,226,755 342,242 455,973 218,168 158,070 1,066,036 189,629 138,634 179,161 80,618 374,641 Deposits: Member bank-reserve account 12,147,656 596,500 6,705,2.91 607,958 697,027 297,063 211,005 1,488,113 311,184 150,512 263,127 212,598 607,278 U.S»Treasurer-General account 507,485 35,004 117,716 42,669 39,215 23,552 23,639 98,231 25,328 21,949 24,784 23,114 32,284 Foreign bank 412,567 29,727 146,227 40/55 38,390 17,750 14,448 49,536 12,384 9,082 11,971 12,384 30,213 Other deposits 300,014 6,342 214,553 17,054 8,129 2,157 7,217 4,059 8,047 7,230 1,057 3,027 21,142 Total deposits 13,367,722 667,573 7,183,787 708,136 782,761 340,522 256,309 1,639,939 356,943 188,773 300,939 251,123 690,917 Deferred availability items 621,950 62,411 139,144 46,139 70,981 46,729 28,253 104,924 28,466 13,125 26,856 24,414 30,508 Other liabilities including accrued dividends 1,991 L99 424 266 243 98 35 311 42 114 101 64 94 TOTAL LIABILITIES 18,819,415 1,128,008 8,550,110 1,096,783 1,309,958 605,517 442,667 2,811,210 575,080 340,646 507^057 356,219 1,096,160 C A P I T AL A C C O U N TS Capital paid in 135,954 9,373 51,150 11,904 13,966 5,221 4,652 13,546 4,088 2,949 4,357 4,082 10,666 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,725 22,824 4,709 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 35,447 1,637 9,761 2,067 3,570 1,452 1,641 6,754 1,445 1,999 1,219 1,845 2,057 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,169,375 1,152,297 8,671,456 1,129,345 1,342,824 620,683 455,398 2,855,763 585,860 349,747 517,388 367,386 1,121,228 Commitments to make industrial advances 8,395 381 1,764 434 1,067 742 77 20 152 63 512 3,183 MATURITY DISTRIBUTION OF BILLS AIID 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 7,001 978 1,608 3,717 403 273 22 Industrial advances 10,911 1,468 97 275 503 If 133 2,951 2,354 2,130 U. S. Government securities, direct and guaranteed J,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 FB-2&3~d FEDERAL RESERVE NOTE STATEMENT ON JANUARY 24, 1940 (in thousands of dollars) Total Boston New York Phila. Cleve« Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notesi Issued to F.R. bank by F.R.agent 5,178,093 426,041 1,322,591 365,705 481,778 234,832 171,703 1,111,018 202,256 145,143 189,480 90,267 437,279 Held by Federal Reserve bank 350,341 28,216 95,836 23,463 25,805 16,664 13,633 44,982 12,627 6,509 10,319 9,649 62,638 In actual circulation 4,827,752 397,825 1,226,755 342,242 455,973 218,168 158,070 1,066,036 189,629 138,634 179,161 80,618 374,641 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,309,000 440,000 1,340,000 375,000 486,000 250,000 180,000 1,130,000 209,000 147,500 195,000 92,500 464,000 Eligible paper 1,390 25 315 129 — 145 — — 15 66* 695 — — Total collateral 5,310,390 440,025 1,340,315 375,129 486,000 250,145 180,000 1,130,000 209,015 147,566 195,695 92,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis