H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Forn FR-2B3 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, March 29; of the Federal Reserve System not earlier• March 20, 1940 CONDITIO!! OF THE FEDERAL RESERVE BANKS During the week ended I.Iarch 27 member bank reserve balances increased $38,000,000. Additions to member bonk reserves arose from decreases of $13,000,000 in money in circulation and $7,000,000 in Treasury deposits with Federal Reserve banks, and an increase of §53,000,000 in ^old stock, offset in part by a decrease of $10,000,000 in Reserve bank credit and increases of $0 000,000 in Treasury cash and $17,000,000 in ncnnember deposits and other ? Federal Reserve accounts. Excess reserves of member banks on March 27 were estimated to be approximately $5,680,000,000, an increase of £90,000,0X) for the week. Changes in member bank reserve balances and related items during the week and the year ended March 27, 1940, were as follows! Increase or decrease since Mar. 27, M;ir. 20, Mar. 29, 1940 1940 1939 (In millions of dollars) Bills discounted 2 - - 1 Bills bought 1 - - U»S, Gov't securities,direct and guaranteed 22,,447755 - - 89 Industrial advances (not including 8 million commitments - March 27) 10 - - - 4 Other Reserve bank credit 22 10 + 26 Total Reserve bank credit 2,510 10 - 68 Gold stock 18,413 + 53 +3,253 Treasury currency 2,990 + 1 + 153 Member bank reserve balances 12,294 + 30 +3,169 Money in circulation 7,471 - 13 + 706 Treasury cash 2,382 + L> - 340 rt Treasury deposits with F. R. banks 700 I - 501 Ilonnenber deposits and other F. R. accounts 1,064 + 17 + 302 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

?orm FR-203-a Released for publication Friday morning, March 29, 1940j not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Mar. 27, Mar. 20, Mar, 29, 1940 1940 1919 A S S E TS Gold certificates on hand and due from U t S. Treasury 16,047,618 + 49,996 +3,623,900 Redemption fund - F. R. notes 8,239 - 95 - 1,363 Other cash 372,262 + 10,476 - 31,368 Total reserves 16,428,119 + 60,377 +3,591,169 Bills discountedi Secured by U. S. Gov't obligations, direct and guaranteed 478 + 144 1,356 Other bills discounted 1,612 - 20 + 124 Total bills discounted 2,090 + 124 1,232 Bills bought in open market - 561 Industrial advances 10,433 15 3,522 U. S* Government securities, direct and guaranteed: Bonds 1,342,045 — + 430,955 Notes 1,133,225 — - 4-2,884 Bills — — 476,816 Total U« S. Government securities, direct and guaranteed 2,475,270 - 88,745 Total bills and securities 2,487,843 + 109 - 94,060 Due from foreign banks 47 - 114 F. R, notes of other banks 19,691 + 2,087 + 193 Uncollected items 743,276 + 22,241 + 161,4-48 Bank premises 41,671 - 18 - 1,011 Other assets 58,005 + 924 + 9,875 T O T AL A S S E TS 19,778,652 + 85,733 +3,667,500 L I A B I L I T I ES F. R. notes in actual circulation 4,899,117 + 4,069 + 553,754 Deposits* Llember bank - reserve account 12,294,002 + 37,752 +3,169,142 U. S. Treasurer - General account 699,877 - 7,616 - 501,510 Foreign bank 395,073 + 4,293 + 152,707 Other deposits 412,821 + + 150,360 Total deposits 13,801,773 + 47,464 +2,970,779 Deferred availability items 721,553 + 32,917* + 135,181 Other liabilities including accrued dividends 4,371 + 1,027* + 442 T O T AL L I A B I L I T I ES 19,426,814 + 85,487* +3 ,660,156 C A P I T AL AC CO U N T S Capital paid in 136,132 + 25 + 1 ,m Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 37,147 + 208* + 4,100 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,778,652 + 85,720 +3,667,500 Ratio of total reserves to deposit and F. R. note liabilities combined 87. Sg + 3.2$ Commitments to make industrial advances 8,224 - 856 - 4,423 %!arch 20 figures revis ed • Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR—283—b STATEMENT OF CONDITIOII OF THE FEDERAL RESERVE BANKS ON MARCH 27, .1940 £ln thousands of cellars) A S S E TS Total Boston New York Phila. 01eve. Rich. Atlanta Chicago St .Louis Minn, Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 16,047,618 910,447 7,953,355 870,263 1,009,049 417,203 309,739 2,468,388 376,876 264,385 354,723 238,287 874,903 Redemption fund - F.R.notes 8,239 537 1,155 441 800 605 722 1,007 634 642 348 279 1,069 Other cash 372,262 32,200 93,086 29,908 26,684 21,208 19,795 50,075 15,886 9,917 19,247 16,007 38,249 Total reserves 16.423*119 943,184 8,047,596 900,612 1,036,533 439,016 330,256 2,519,470 393,396 274,9M 374,318 254,573 914,221 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 478 150 145 25 13 15 19 54 25 — 44 28 Other bills discounted 1,612 467 140 127 121 87 135 80 22 140 157 136 Total bills discounted 2.090 150 612 165 i4o 136 106 189 80 47 i4o 161 164 Industrial advances 10,483 1,410 2,048 3,209 301 902 807 to 1,410 2,048 3,209 I83 116 483 686 U. S. Government securities, direct and guaranteed: Bonds 1,342,045 95,983 407,496 110,049 136,881 68,047 54,420 144,666 60,199 39,720 6622,,882200 51,129 110,635 Notes 1,133,225 81,049 344,089 92,927 115,581 57,459 45,952 122,156 50,832 33,541 53,044 43,173 93,422 Total U. S. Qov!t securities, direct and guaranteed 2,475,270 177,032 751,585 202,976 252,462 125,506 100,372 266,822 111,031 73,261 115,864 94,302 204,057 Total bills and securities 2,487,843 178,592 754,245 206,350 252,903 126,544- 101,285 267,349 111,111 73,491 116,120 94,946 204,907 Due from foreign banks 47 3 18 5 4 22 6 1* 11 4 F. R. notes of other banks 19,691 457 1,651 1,222 1,712 2,854 2,985 2,465 1,053 738 1,642 704 2,208 Uncollected items 743,276 57,709 248,117 54,812 76,927 61,664 25,523 87,299 28,889 16,073 29,360 22,660 3^,243 Bank premises 41,671 2,880 9,858 4,541 5,510 2,528 2,023 3,373 2,250 1,391 3,213 1,166 2,938 Other assets 58,005 3,836 17,010 4,739 6,461 3,507 2,297 5,902 2,438 1,746 2,589 2,377 5,103 T O T AL A S S E TS 19,778,652 1,186,661 9,078,495 1,172,281 1,380,050 636,115 464,371 2,885,864 539,138 368,383 527,243 376,4-27 1,163,624 *Less than $500» Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2C3 STATEMENT OF CONDITIOII OF THE FEDERAL RESERVE BANKS ON MARCH 27, .1940 £ln thousands of cellars) L I A B I L I T IE S Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. F. R» notes in actual circulation 4,899,117 404,3^2 1,271,969 33--4455,,660099 452,853 2-18,961 157,658 1,074,567 192,227 146,598 181,577 79,442 379,314 Depositst Zemher bank—reserve account 12,294,002 609,603 6,826,869 614,OAS 208,988 637,112 Treasurer-General account 699,877 56,489 154,585 57,862 65,598 44,793 26,616 114,107 34,333 33,653 30,338 39,711 41,792 Foreign bank 395,073 28,688 137,861 39,074 37,080 17,145 13,955 47,845 11,961 8,772 11,563 11,961 29,168 Other deposits 412,821 7,137 "326,979 23,934 3,4-15 2*275 6,873 3,471 7,^94 5,488 594 2,177 18,684 1 : 1 I 1 i 1 i Total deposits 13,801,773 701,917 7,446,294 734,016 262,837 726,756 Deferred availability items 772211,,555533 5555,,668811 223377,,333399 5599,,553366 22,198 32,063 Other liabilities including accrued dividends 4,371 332 2,026 3^3 il2 121 145 473 87 155 262 739 236 TOTAL LIABILITIES 19,426,814 1,162,272 8,9:56,628 1,139,544 1,346,959 620,842 451,588 2,841,058 528,258 359,237 516,843 365,216 1,138,369 API 1 A L» xi C C 0 U N T 3 Capital paid in 136,132 9,341 51,106 11,906 14,011 5,271 4,632 13,611 4,114 2,953 4,376 4,101 10,710 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 1,429 533 1,001 1,142 1,266 2,121 Other capital accounts 37,147 1,769 10,326 2,240 3,750 1,509 1,713 6,942 1,519 2,040 1,269 1,870 2,200 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,778,652 1,186,661 078,495 1,172,281 1,380,050 636,115 464,371 2,885,864 539,138 368,383 527,243 376,427 1,163,624 i Commitments to make industrial advances 8,224 3^1 867 710 1,120 752 17 20 181 59 475 - - 3,682 UAfflBITY DISTRIBUTION QF BILLS AND SECURITIES Within 16 to 3I 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 tears Bills discounted 2,090 645 21 140 1,123 108 53 - -. Industrial advances 10,483 1,574 3,21 £94 ' 273 1,740 1,922 2,050 2,509 r - U. S* Government securities, direct 'and guaranteed 2,475,270 224,796 248,417 735,708 1,266,349 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE HOTS STATEMENT ON MARCH 27, 1940 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Ilinii. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 5,237,827 419,195 1,368,998 366,903 480,968 234,785 173,108 1,123,542 204,887 145,689 191,297 89,046 439,409 Held by Federal Reserve bank 338,710 14,853 97,029 21,294 28,115 15,824 15,450 48,975 12,660 5,091 9,720 9,604 60,095 In actual circulation 4,899,117 404,342 1,271,969 345,609 452,853 218,961 157,658 1,074,567 192,227 140,598 181,577 79,442 379,314 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,343,500 440,000 1,385,000 375,000 482,000 250,000 175,000 1,130,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 671 150 185 67 93 ~ ~ 40 25 111 - - Total collateral 5,344,171 440,150 1,385,185 375,067 482,000 250,093 175,000 1,130,000 209,040 147,525 195,111 91,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis