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, Feb. 2; of the Federal Reserve System not earlier. February 1, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 31 member bank reserve balances increased $2,000,000, Additions to member bank reserves arose from a decrease of $23,000,000 in Treasury cash and increases of $52,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by increases of $42,000,000 in Treasury deposits with Federal Reserve banks, $9,000,000 in nonmember deposits and other Federal Reserve accounts and $11,000,000 in money in circulation and by a decrease of $11,000,000 in Reserve bank credit. Excess reserves of member banks on January 31 were estimated to be approximately $5,560,000,000, a decrease of $30,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended January 31, 1940, were as follows? Incrcace or decrease since Jan 31, Jan* 24, Feb. 1, # 1940 1940 1939 (in millions of dollars) Bills discounted 7 + 2 — Bills bought — — 1 U.S. Gov't securities, direct and guaranteed 2,477 — - 87 Industrial advances (not including 8 million commitments - January 31) 10 - 1 5 Other Reserve bank credit 8 - 11 + 10 Total Reserve bank credit 2,503 - 11 - 79 Gold stock 17,931 + 52 +3,237 Treasury currency 2,971 + 2 + 154 Member bank reserve balances 12,150 + 2 +3,103 Money in circulation 7,376 + 11 + 713 Treasury cash 2,358 - 23 - 412 Treasury deposits vdth F. R. banks 549 + 42 - 338 Nonmember deposits and other F. R. accounts 971 + 9 + 246 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn FR-283-a Released for publication Friday morning, Feb. 2, 1940 j not earlier. STATEMENT OF CONDITION OF THE T7®LVE FEDERAL RESERVE BANKS C0I.IBI1IED (in thousands of dollars) Increase or decrease since Jan. 3 Jan. 24, Feb. 1, 1940 1940 1939, A S S E TS Gold certificates on hand and due fron U. S Treasury 15,552,120 + 69,000 +3,604,902 # Redemption fund - F. R. notes 9,335 + 733 - 1,106 Other cash 413,222 + If) - 26,920 Total reserves 15,974,677 + 69,782 +3,576,876 Bills discounted? Secured by U. S. Govlt obligations, direct and guaranteed 55G 86 - 2,322 Other bills discounted + 31 + 395 Total bills discounted 6,946 + 2,073 Bills bought in open market — — - 556 Industrial advances 10,373 538 - 44,,443388 U« S. Government securities, direct and guaranteedi Bonds 1,344,045 — + 503,152 Notes 1,133,225 — - 76,706 Bills — — - 513,191 Total U. S. Government securities, direct and guaranteed 2,4-77,270 — - 86,745 Total bills and securities 2,494,589 593 - 89,666 Due from foreign bonks 47 - 119 F # R # notes of other banks 24,626 - l,64o - 1,698 Uncollected items 625,068 - 15,503 + 41,194 Bank premises 41,808 + 97 - 1,023 Other assets 61,973 + 1,270 + 14,103 T O T AL A S S E TS 19,222,788 + 53,413 +3,539,667 L I A B I L I T I ES F. P*. notes in actual circulation 44,,883322,,110011 + • 4,349 + 484,892 Deposits; Member bank - reserve account 12,149,576 + 1,920 +3,102,765 U« S. Treasurer - General account 549,441 + 41,956 - 337,580 Foreign bank 407,313 - 5,254 + 221,547 O'ther deposits 315,284 + .1^,270 + 32,123 Total deposits 13,421,614 + 53,892 +3,018,855 Deferred availability items 661166,,770011 -- 55,,224499 + 3300,,660088 Other liabilities including accrued dividends 2,153 + lt: 1M 978 T O T AL L I A B I L I T I ES is, 872, + 53>154 +3,533,377 C A P I T A L A C C O U N TS •Capital paid in + 54 + + Surplus (Section 7) 151,730 2,568 Surplus (Section 13b) 26,839 425 Other capital accounts 15,652 + 20 5 2,929 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,222,788 + 53,413 +3,539,667 Ratio of total reserves to deposit and F. R, note liabilities conbined 87.5% . 1 J./ c O ' 3.A% Connitnents to nalce industrial advances 8,376 19 A, 516 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 ON FEBRUARY 21, 1940 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 15,552,120 865,470 7,690,760 822,584 975,695 403,777 294,179 2,428,526 424,363 250,953 348,173 224,798 822,842 Redemption fund — F.R. notes 9,335 805 1,090 873 658 1,161 419 1,394 718 195 434 335 1,253 Other cash 413,222 36,701 95,478 34,339 31,347 27,024 22,411 54,561 18,286 9,965 20,482 17,366 45,262 Total reserves 15,974,677 902,976 7,787,328 857,796 1,007,700 431,962 317,009 2,484,481 443,367 261,113 369,089 242,499 869,357 Bills discountedl Secured by U. S. Gov't obligations, direct and guaranteed 558 25 160 135 63 44 10 24 40 10 4 43 Other bills discounted 6,388 125 2,232 547 541 330 369 632 201 156 693 164 398 Total bills discounted 6,946 150 2,392 682 6o4 374 379 656 201 196 703 168 441 Industrial advances 10,373 1,350 2,040 3,129 305 934 698 331 11 201 169 485 720 U. S. Government securiti. es, 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 2,449944,,558899 117788,,667700 7 7 5 5 6 6 , , 7 7 6 6 9 9 20 2 6 0 , 6 9 ,9 6 6 6 6 25 2 3 5 , 3 5 , 7 57 4 4 1 2 1 6 2 , 6 8 , 9 89 0 0 1 0 1 1 0 , 1 5 , 1 51 7 7 26 2 8 6 , 8 0 , 0 0 7 0 7 1 1 1 1 1 , 1 3 , 0 3 3 0 3 73 7 , 3 7 , 0 7 1 0 1 1 1 1 6 1 , 6 8 , 0 8 0 0 0 95 9 ,0 5 1 ,0 6 1 6 205,376 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 24,626 801 3,357 832 1,778 4,760 3,314 3,384 1,141 952 1,365 596 2,346 Uncollected items 625,068 63,302 161,057 44,272 72,597 49,066 23,916 91,353 26,779 14,274 25,414 22,408 30,630 Bank premises 41,808 2,885 9,876 4,562 5,535 2,538 2,030 3,384 2,244 1)393 3,245 1,169 2,947 Other assets 61,973 4,087 17,998 5,356 6,858 3,672 2,525 6,315 2,639 1,863 2,795 2,426 5,439 TOTAL ASSETS 19,222,788 1,152,724 8,736,403 1,119,789 1,348,046 618,890 450,313 2,856,930 587,474 353,296 518,709 364,115 1,116,099 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form ra-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JMUARY 31, 1940 LI A B I LI T I ES (In thousands of dollars) Total Boston New York Phila. deve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 4,832,101 397,937 1,233,250 343,467 451,877 218,952 158,620 1,064,756 190,341 138,769 179,806 80,821 373,505 Deposits* Member bank-reserve account 12,149,576 597,648 6,715,297 600,835 705,007 285,907 209,900 1,484,330 312,000 151,361 267,159 216,425 603,707 U.S.Treasurer-General account 549,441 36,040 143,917 40,482 41,921 31,356 23,105 99,613 28,103 26,438 23,653 19,342 35,471 Foreign bank 407,313 29,166 145,864 39,717 37,691 17,427 14,185 48,634 12,158 8,916 ,11,753 12,158 29,644 Other deposits 315,284 6,021 229,375 17,991 8,130 2,058 8,052 4,262 8,4l3 5,866 606 2,981 21,529 Total deposits 13,421,614 668,8757 ,234,453 699,025 792,749 336,748 255,242 1,636,839 360,674 192,581 303,1712 50,906 690,351 Deferred availability items 616,701 61,410 146,946 44,169 70,298 47,996 23,661 110,501 25,618 12,726 25,138 21,159 27,079 Other liabilities including accrued dividends 2,153 228 324 527 212 38 42 242 42 106 256 71 65 TOTAL LIABILITIES 18,872,569 1,128,450 8,614,973 1,087,188 1,315,136 603,734 437,565 2,812,338 576,675 344,182 508,371 352,957 1,091,000 C A P I T AL A C C O U N TS Capital paid in 136,008 9,347 51,179 11,920 13,973 5,222 4,664 13,553 4,088 2,951 4,360 4,082 10,669 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 10,2,24 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 35,652 1,648 9,816 2,090 3,607 1,441 1,646 6,706 1,464 2,010 1,223 1,836 2,085 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 19,222,738 1,152,724 8,736,403 1,119,789 1,348,046 618,890 450,313 2,856,930 587,474 353,296 518,7C9 364,115 1,116,099 Commitments to make industrial advances 8,376 366 1,760 434 1,095 737 75 20 152 62. 512 3,163 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. 6,946 1,038 1,580 3,708 377 177 66 _ _ _ __ Industrial advances 10,373 1,484 149 178 493 1,093 2,909 2,136 1,931 — 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 FR-283-a FEDERAL RESERVE NOTE STATELIEST ON JAIIUARY 31, 1940 (In thousands of dollars) Total Boston llev/ 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 5,164,940 423,526 1,322,056 363,575 479,819 232,334 171,019 1,112,920 201,468 144,854 107,655 89,392 436,322 Held by Federal Reserve bank 332,839 25,589 33,806 20,108 27,942 13,382 12,399 48,164 11,127 6,085 7,849 8,571 62,817 In actual circulation 4,832,101 397,937 1,233,250 343,467 451,877 218,952 158,620 1,064,756 190,341 138,769 179,806 80,821 373,505 Collateral held by agent o„s security for notes issued to bank: Gold certifi catcs 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 1,307 150 248 l4l ™ 159 — -- — 58 551 — Total collateral 5,310,307 440,150 1,340,248 375,141 486,000 250,159 180,000 1,130,000 209,000 147,558 195,551 92,500 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis