H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morMng, April 5 J of the Federal Reserve System not earlier * April 4, 19 AO. CONDITION OF THE FEDERAL RESERVE BUNKS During the week ended April 3 member bank reserve balances increased $101,000,000. Additions to member bank reserves arose from decreases of $10,000,000 in Treasury cash, $8,000,000 in Treasury deposits with Federal Reserve banks, and $71,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $57,000,000 in gold stock and $2*000*000 in Reserve bank credit, offset in part by an increase of $50,000,000 in money in cl*gul«&on* Excess reserves of member banks on April 3 were estimated to be approximately $5,820,000,000, an increase of $140,000,000 for the week. The principal change in holding* of bill* and securities was a decrease of $8,000,000 in United States Government securities, direct and guaranteedj holdings of bonds and of notes each decreased $4,000,000. Changes in member bank reserve balances and related items during the week and the year ended April 3, 1940, we re as follows I Increase or decrease since Apr. 3, Mar. 27, Apr. 5, 1940 1940 1939 (In millions of dollars) Bills discounted 3 + 1 _ _ Bills bought — 1 U, S. Gov't securities,direct and guaranteed 2,467 - 8 - 97 Industrial advances (not including 8 million commitments - April 3) 10 4- Other Reserve bank credit 32 + 10 + 29 Total Reserve bank credit 2,512 + 2 - 72 Gold stock 18,470 + 57 +3,178 Treasury currency 2,991 + 1 + 153 Member bank reserve balances 12,395 +101 +3,077 Honey in circulation 7,521 + 50 + 666 Treasury cash 2,372 - 10 - 340 Treasury deposits with F. R, banks 692 - 8 - 411 Nonmember deposits and other F. R. accounts 993 - 71 + 266 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d. Released for publication Friday morning, April 5,1940; not oilier. STATEMENT OF CONDITION OF TH3 TWELVE FEDERAL RESERVE BANKS CCM3I1IED (in thousands of dollars) Increase or decrease since . Apr 3, Liar, 27, Apr* 5, # 1940 1940 1939 A SS E T S Gold certificates on hand and due from U. S. Treasury 16,101,619 + 54,001 +3,528,901 Redemption fund - F. E # notes 8*123 116 - 1,480 Other cash ,375,462 + 3,201 + 14,781 Total reserves 16,4851205 + 57,086 +3,542,202 Bills discounted: Secured by U. S. Gov!t obligations, direct and guaranteed 1,076 + 598 + 14 Other bills discounted 1,675 + 63 + 185 Total bills discounted 2,751 + 661 + 199 Bills bought in open market M* —. - 561 Industrial advances 1100,,ii3388 •• 345 - 33,,775566 U. S• Government securities5 direct and guaranteeds Bonds 1,337,495 - 4,550 + 426,405 Notes 1,129,225 - 4,000 - 46,804 Bills — - 476,816 Total U» S• Government securities. direct and guaranteed 2,466,720 . - 8,550 - 97,295 Total bills and securities ™,479,609 - 8,234 - 101,413 Due from foreign banks 47 _ _ _ 114 F. R. notes of other banks 17,998 - 1,693 - 870 Uncollected items 636,668 -106,608 + 59,661 Bank premises 41,612 59 - 1,030 Other assets 55,257 + 252 + 9,524 T O T AL A S S E TS 19,719,396' - 59,256 +3,507,960 L I A B I L I T I ES F. R. notes in actual circulation 44,,993344,,663366 + 35,519 + 553366,,220066 Deposits 1 Member bank - reserve account 12,395,4-60 +101,458 +3,077,630 U. S. Treasurer - General account 692,077 - 7,800 - 410,820 Foreign bank 334,335 - 10,738 + 151,919 Other deposits 352,536 - 60,285 + 114,729 Total deposits 13,824,408 + 22,635 +2,933,456 Deferred availability items 660044,,554411 --111177,,001122 + 3300,,660022 Other liabilities including accrued dividends 3,568 - 803 - 449 T O T AL L I A B I L I T IE S 19,367,153 - 59,661 +3,499,817 C A P I T AL A C C O U N TS Capital paid in 136,145 ++ 1133 + 1,219 Surplus (Section 7) 151,730 + 2,568 Surplus (Section 13 b) 26,839 - 425 Other capital accounts 37,539 + 392 + 4,781 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,719,396 - 59,256 +3,507,960 Ratio of total reserves to deposit and F. R. note liabilities combined 87.9% + .1% + 3.25S Commitments to make industrial advances 8,350 + 126 - 3,712 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn FR-283-b STATS. IJT OF C01IDITI0H OF THE FEDERAL RESERVE BAHKS ON AFRIL 3, 1940 (in thousands of dollars) A S S E TS Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Llinn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due fron U. S. Treasury 16,101,619 894,979 8,063,950 901,031 998,523 407,539 316,246 2,426,165 362,016 264,438 356,947 231,982 875,803 Redemption fund - F.R.notes 6,123 485 94.3 441 735 984 690 931 617 634 333 279 1,051 Other cash 375,463 .31,845 _ 99,294 _31,_568 27^065 24_,047 20,480 46,981 16,391 9,460 18,918 15,148 34,266 Total reserves 16,485,205 927,309 S,164,137 933,040 1,026,323 432,570 337,416 2,476,077 379,024 274,532 376,198 247,409 911,120 Bills discounted: Secured by U. S. Gov't obligations, direct and guoranteed 1,076 80 45 55 23 10 36 754 - - 35 38 Other bills discounted 1,675 510 _133___ 122 129 136 120 80 22 134 153 136 Total bills discounted 2,751 80 555 188 145 139 172 G7A 80 22 134 188 174 Industrial advances 10,138 1,223 2,041 3,042 309 916 803 Jjv - - 179 116 483 688 U. S. Government securities, direct and guaranteed! Bonds 1,337,495 97,529 400,969 106,802 136,778 68,243 56,495 146,385 61,325 40,271 6l,73r> 51,517 109,438 Notes 1,129,225 82,343 338,532 90,170 115,478 57,622 47,700 123,590 51,775 34,000 52,123 43,495 92,397 Total U. S. Gov't securities« direct and guaranteed 2,466,720 179,872 739,501 196,972 252,256 125,870 104,195 269,975 113,100 74,271 113,861 95,012 201,835 Total bills and securities 2,479,609 181,175 742,097 200,202 252,710 126,925 105,170 271,187 113,180 74,472 114,1TL 95,683 202,697 Due fron foreign banks 47 3 18 5 4 22 6 1* 1 14 F. R. notes of other banks 17,998 543 1,229 855 1,619 3,108 1,994 2,684 1,800 963 930 558 1,715 Uncollected itens 636,668 64,093 153,147 50,020 71,742 53,652 23,880 94,226 29,331 16,611 27,650 22,697 29,619 Bank premises 41,612 2,875 9,840 4,541 5,510 2,526 2,023 3,373 2,250 1,389 3,197 1,159 2,929 Other assets 58,257 3,948 16,765 __ 6,550 3,406_ _2,430 _ 6,043 _2,533_ 1,793 2,595 ?j401„ 5,150 T O T AL A S S E TS 19,719,396 1,179,946 9,087,283 ,193,306 1,364,458 622,189 4-72,915 2,853,596 528,119 369,760 524;,682 369,908 1,153,234 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 24, 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 >4,934,636 406,262 1,286,053 345,609 451,425 219,022 159,550 1,082,439 193,163 14-1,762 183,279 80,401 385,621 Deposits* Llember bank-reserve acct. 12,395,460 598,3.42 6,921,548 658,639 714-, 9632 81,526 232,975 1,480,736 246,278 159,387 258,970 208,923 633,173 U.S.Treasurer-General acct. 692,077 54,068 212,838 51,222 50,190 34,212 24,695 102,039 29,169 32,009 33,307 33,4-92 34,336 Foreign bank 384,335 27,361 139,005 37,269 35,367 16,353 13,310 45,635 11,409 8,366 11,028 11,409 27,823 Other deposits 352,536 6,734- 270,002 18,906 8,599 3,650 6,778 3,002 7,412 5,151 4-77 2,558 19,267 Total deposits 13,824,408 686,505 7,543,393 766,036 809,119 335,741 277,758 1,631,412 294,268 204,913 304,282 256,382 714,599 Deferred availability items 604-,54l 62,374 134,923 48,551 70,377 52,017 22,671 94,403 29-,702 26,449 21,770 27,523 13,781 Other liabilities including accrued dividends 3,566 411 911 342 404 118 137 93 148 261 129 191 TOTAL LIABILITIES 19,367,153 1,155,552 8,965,280 1,160,538 1,331,325 606,898 460,116 2,808,727 517,226 360,6o4 514,271 358,682 1,127,934 C A P I T AL A C C O U N TS Capital paid in 136,145 9,341 51,108 11,906 14,011 5,271 4,631 13,615 4,117 2,953 4,377 4,103 10,712 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 1,4-29 538 1,001 1,142 1,266 2,121 Other capital accounts 37,539 1,774 10,460 2,271 _3i792 1,527 1,730 7,001 1,529 2,050 1,279 1,8':3 2,243 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,719,396 1,179,946 9,087,283 1,193,306 1,364,458 622,189 472,915 2,853,596 528,119 369,760 524,682 369,908 1,153,234 Commitments to make industrial advances 8,350 336 861 885555 11,,110099 774488 1177 1199 118811 59 475 - - 3,690 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 nonths 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 2,751 600 773 1,130 100 129 19 Industrial advances 10,138 1,247 196 149 793 1,425 1,772 2,059 2,497 U. S. Government securities, direct and guaranteed 2,466,720 224,75-6 248,417 731,708 1,261,799 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d. FEDERAL RESERVE NOTE STATEMENT ON APRIL 3, 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 5,251,335 420,991 1,378,845 364,308 479,213 234,587 173,140 1,130,568 205,180 145,411 190,828 88,234 440,030 Held by Federal Reserve bank 316,699 14,729 92,792 18,699 27,788 15,565 13,590 48,079 12,017 3,649 7,549 7,833 54,409 In actual circulation 4,934,636 406,262 1,286,053 345,609 451,425 219,022 159,550 1,082,489 193,163 141,762 183,279 80,401 385,621 Collateral held by agent as-security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,363,500 440,000 1,395,000 375,000 482,000 250,000 175,000 1,140,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 540 80 128 91 96 - - 40 - - 105 - - — Total collateral 5,364,040 440,080 1,395,128 375,091 482,000 250,096 175,000 1,140,000 209,040 147,500 195,105 91,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis