H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Fo?m KR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, March 85 of the Federal Reserve System not earlier. March 7- 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended March 6 member bank reserve balances increased $49*000,000. Additions to member bank reserves arose from increases of $54,000,000 in gold stock and $4,000,000 in Treasury currency, and decreases of $25,000,000 in Treasury deposits with Federal Reserve banks, $16,000,000 in Treasury cash and $15,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by an increase of $42,000,000 in money in circulation and a decrease of $22,000,000 in Reserve bank credit. Excess reserves of member banks on March 6 were estimated to be approximately $5,730,000,000, an increase of $40,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended March 6, 1940, were as follows: Increase or decrease since Mar. 6, Feb. 28, Har. 8, 1940 1940 1939 , (In millions of dollars) Bills discounted 3 - 4 Bills bought 1 U, S. Government securities,direct and guaranteed 2,477 87 Industrial advances (not including 9 million commitments - March 6) 10 - 1 Other Reserve bank credit 25 - 18 42 Total Reserve bank credit 2,515 - 22 - 50 Gold stock 18,220 + 54 +3,297 Treasury currency 2,984 + 4 + 155 Member bank reserve balances 12,367 49 +3,3S2 Money in circulation 7,481 42 + 730 Treasury cash 2,358 16 - 358 Treasury deposits with F. R, banks 536 25 - 566 Nonmember deposits and other F. R. accounts 977 15 + 214 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, March 8,1940$ not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS' COMBINED (In thousands of dollars) Increase or decrease since Mar. 6, Feb. 28, Tiaa r. 8, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 15,868,621 + 75,000 +3,684,902 Redemption fund - F. R. notes 9,572 - 2 - 558 Other cash 356,186 - 11,269 59,057 Total reserves 16,234,379 + 63,729 +3,625,287 Bills discounted: Secured by U. S. Gov!t obligations, direct and guaranteed 470 42 - 1,226 Other bills discounted 2,507 - 3,660 + 858 Total bills discounted 2,977 3,702 368 Bills bought in open market — — - 553 Industrial advances 1100,,440044 - 300 - 33,,771188 U. S. Government securities, direct and guaranteedt Bonds 1,344,045 — + 503,152 Notes 1,133,225 — - 82,241 Bills — — - 507,656 Total U. S. Government securities, direct and guaranteed 2,477,270 _ - 86,745 Total bills and securities 2,490,651 - 4,002 91,384 Due from foreign banks 47 — — 122 F. R. notes of other banks 19,935 - 1,647 + 553 Uncollected items 619,180 - 19,574 + 83,534 Bank premises 41,703 - 38 - 1,032 Other assets 65,695 + 936 + 14,008 T O T AL A S S E TS 19,471,590 + 39,404 +3,630,844 L I A B I L I T I ES F. R. notes in actual circulation 44,,888899,,228877 + 3300,,661100 + 554455,,772211 Deposits: Member bank - reserve account 12,367,086 + 49,292 +3*382,097 U, S. Treasurer - General account 535,988 - 25,418 - 565,574 Foreign bank 353,533 27,311 + 97,598 Other deposits 377,032 + 13,651 + 122,919 Total deposits 13,633,639 + 10,214 +3,037,040 Deferred availability items _ 559944,,553388 1,571 + 4411,,448822 Other liabilities including accrued dividends 2,098 42 238 T O T AL L I A B I L I T I ES 19,120,562 4- 39,211 +3,624,005 C A P I T AL A C C O U N TS Capital paid in 136,074 — 7 + 1,126 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 42 5 Other capital accounts 36,395 + 200 + 3,570 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,471,5% + 39,404 +3,630,844 Ratio of total reserves to deposit and F. R. note liabilities combined 37.6% + .1% + Commitments to make industrial advances 9,126 + 160 - 3,AM- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-233-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BA1IKS Oil MARCH 6, 1940 (in thousands of dollars) ASSETS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand ,a nd due from U.S.Treasury 15,868,621 878,990 7,956,005 831,127 991,934 412,723 306,482 2,407,278 408,223 248,703 353,601 224,766 848,789 Redemption fund -F.R. notes 9,572 647 1,540 631 934 768 782 1,149 664 661 377 302 1,117 Other cash 356,186 2.9,768 89,821 28,751 25,806 22,632 20,386 45,984 14,839 9,528 18,546 13,771 36,354 Total reserves 16,234,379 909,405 8,047,366 860,509 1,018,674 436,123 327,650 2,454,411 423,726 258,892 372,524 238,839 886,260 Bills discounted! Secured by U. S. Govft obligations, direct and guaranteed 470 70 145 60 13 41 10 59 25 4 43 Other bills discounted 2,507 — 854 252 238 86 112 263 79 56 263 106 198 Total bills discounted 2,977 70 .999 312 251 127 122 322 79 81 263 110 241 Industrial advances 10,404 11,,440066 22,,0044--99 33,,009977 331188 925 801 330 — 186 119 482 691 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 2,490,651 178,646 755,385 206,564 253,234 126,634 101,363 267,672 111,170 73,571 116,310 94,955 205,147 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. Fw notes of other banks 19,935 558 1,981 828 1,405 2,766 1,829 2,882 1,920 1,379 1,578 741 2,068 Uncollected items 619,180 58,247 147,223 49,561 68,744 50,510 26,601 88,050 27,652 15,64-2 29,025 29,328 28,597 Bank premises 41,703 2,880 9,858 4,551 5,523 2,532 2,027 3,379 2,246 1,391 3,213 1,165 2,938 Other assets 65,695 4,393 19,211 5,476 7,255 3,831 2,615 6,716 2,808 1,978 2,967 2,653 5,792 T O T AL A S S E TS ^19,471,590 1,154,132 8,981,042.1,127,494 1,354,839 622,398 462,087 2,823,116 569,523 352,853 525,618 367,682 1,130,806 *Less than $500, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form £R~283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 6, 1940 (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. CXeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R notes in actual cir- # culation 4,889,287 403,480 1,254,079 345,288 454,329 218,391 159,269 1,072,007 191,673 141,053 183,680 81,074 384,964 Deposits t Member bank-reserve account 12,367,086 593)321 6,945,742 595,645 703,654 295,474 221,521 1,465,367 286,307 151,080 271,202 213,859 623,9X4 U.S, Treasurer-General, account 535,988 43,348 118,303 43,294 53,919 23,942 21,991 105,057 33,312 23,600 22,026 22,056 25,140 Foreign bank 353,533 25,350 125,649 34,629 32,862 15,194 12,367 42,402 10,601 7,774 10,247 10,601 25,857 Other deposits 377,032 6,389 280,897 26,092 10,507 4,151 8,410 3,424 9,255 6,291 394 2,299 _18 923 J Total ddposits 13,633,639 668,408 7,470,591 ,660 800,942 338,761 264,289 1,616,250 339,475 188,745 303,869 248,8X5 693,834 Deferred availability items 594,538 57,633 134,027 49,455 66,2X6 49,925 25,665 89,774 27,460 13,782 27,458 26,499 26,644 Other liabilities including accrued dividends 3,098 297 725 435 342 85 1X9 378 72 X?8 230 xxo X67 TOTAL LIABILITIES 19,120,562 1,129,818 8,859,422 X,094,838 1,321,829 607,162 449,342 2,778,409 558,680 343,7X8 5X5,237 356,498 1,105,609 C A P I T AL A C C O U N TS t Capital paid in X36,074 9,340 51,105 XX,909 14,004 5,265 4,622 13,585 4,106 2,958 4,377 4,094- 10,709 Surplus (Section 7) 151,730 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 53S 1,001 1,142 1,266 2,121 Other capital accounts 36,395 1,695 XO,080 2,156 3,676 1,478 1,685 6,869 1,490 2,024 1,249 1,850 2,143 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,471,590 1,154,132 8,981,042 1,127,494 1,354,839 622,398 462,007 2,823,116 569,523 352,853 525,618 367,682 1,130,806 Commitments to make industrial advances 9,126 356 1,684 711 1,119 760 18 20 151 61 492 — 3,754 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year Years to Over Total 15 days 30 days 60 days 90 days 6 months to I Year- to 2 Years 5 Years 5 Years Bills discounted 2,977 1,468 45 181 1,126 91 66 Industrial advances 10,404 1,493 415 339 157 1,728 1,983 2,125 2,164 — U. S. Government securities, direct and guaranteed 2,477,270 136,783 105,974 281,368 684,796 1,268,349 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE—283-d FEDERAL RESERVE 110TE STATEMENT Oil LI ARCH 6, 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 5,210,592 422,184 1,349,118 366,330 480,525 233,091 172,270 1,118,041 202,207 144,856 192,721 89,990 439,259 Held by Federal Reserve bank 321,305 18,704 95,039 21,042 26,196 14,700 13,001 46,034 10,534 3,803 9,041 8,916 54,295 In actual circulation 4,889,287 403,480 1,254,079 345,288 454,329 218,391 159,269 1,072,007 191,673 141,053 183,630 81,074 384,964 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U. S. Treasury 5,323,500 440,000 1,365,000 375,000 482,000 250,000 175,000 1,130,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 615 70 145 116 — 42 — — — 37 205 — Total collateral 5,324,115 440,070 1,365,145 375,116 482,000 250,042 175,000 1,130,000 209,000 147,537 195,205 91,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis