H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, April 19j of the Federal Reserve Syster not earlier. April 18, 1940 CONDITION OF THE FEDERAL RESERVE BAIJKS During the week ended April 17 member bank reserve balances increased $182,000,000. Additions to member bank reserves arose from decreases of $4),000,000 in Treasury cash and $77,000,000 in Treasury deposits with Federal Reserve banks, and increases of $108,000,000 in gold stock and $14,000,000 in Reserve bank credit, offset in part by increases of $27,000,000 in money in circulation and $30,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on April 17 were estimated to be approximately $6,050,000,000, an increase of $100,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended April 17, 1940, were as follows t Increase or decrease since April 17, April 10, April 19, 1940 1940 1939 (In millions of dollars) Bills discounted 2 1 Bills bought 1 U. S. Gov't securities,direct and guaranteed 2,467 97 Industrial advances (not including 9 million commitments - April 17) 10 — 3 Other Reserve bank credit 35 + 14 + 25 Total Reserve bank credit 2,514 + 14 - 77 Gold stock 18,631 +108 +3,026 Treasury currency 2,992. - 1 + 148 Member bank reserve balances 12,757 +182 +3,014 Honey in circulation 7,536 + 27 + 678 Treasury cash 2,313 - 40 - 410 Treasury deposits with F. R. banks 513 - 77 - 438 Homiornber deposits and other F. R. accounts 1,019 + 30 + 254 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Jbrm FR-283-a Released for publication Friday morning, April 19,1940s not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since April 17, April 10, April 19, 1940 1940 19?9 A S S E TS Gold certificates on hand and due from U. S. Treasury- 16,288,976 +127,902 +3,412,258 Redemption fund - F. R. notes 9,275 + 603 + 490 Other cash 387,927 + 2,617 + 6,869 Total reserves 16,686,178 +131,122 +3,419,617 Bills discountedi Secured by U. S. Gov't obligations, direct and guaranteed 632 + 266 - 597 Other bills discounted 1,831 + 104 + 225 Total bills discounted 2,463 + 370 - 372 Bills bought in open market — - 560 Industrial advances 99,,885522 23 - 3,626 U. S. Government securities, direct and guaranteed: Bonds 1,337,495 W M + 426,405 Notes 1,129,225 - 46,884 Bills 476,816 - - - Total U. S. Government securities, direct and guaranteed 2,466,720 — — 97,295 Total bills and securities 2,479,035 + 347 - 101,853 Due from foreign banks 47 - — - 115 ?. E. notes of other banks 19,461 - 2,685 - 152 Uncollected items 763,669 +171,449 + 90,975 Bank premises 41,625 + 13 - 1,008 Other assets 58,082 - 1,490 + 8,978 T O T AL A S S E TS 20,048,097 +298,756 +3 ,416,442 L I A B I L I T I ES F. R. notes in actual circulation 4,931,115 + 7,690 + 513,293 Deposits! iienber bank - reserve account 12,757,391 +182,664 +3,014,552 U. S, Treasurer - General account 512,52.1 - 77,939 - 438,355 foreign bank 384,229 + 11,427 + 161,513 Other deposits 377,569 + 17,2?0 + 91,594 Total deposits 14,031,710 +133,402 +2,829,304 Deferred availability items 772288,,885577 +158,047 + 6655,,668888 Other liabilities including accrued dividends - , 51? - 251 T O T A L L I A B I L I T I ES 19,695,584 +298,626 +3,408,034 C A P I T AL A C C O U N TS Capital paid in 136,132 + 5 + 1,161 Surplus (Section 7) 151,720 - ~ + 2,568 Surplus (Section 1.3b) 26,839 - - - 425 Other capital accounts 37,822 + 125 + 5,104 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,048,097 +298,756 +3,416,442 Ratio of total reserves to deposit and F. R.note liabilities combined 88.0% + 3.1* Corrnitnents to make industrial advances 8,805 + 15 — 2,854 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2o.3~b STi\TELIEIW OF C0IIDITI013 0? THE FEDERAL RESERVE BANKS ON APRIL 17, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due f ro in U. S. Treasury 16,288,976 888,941 8,078,757 897,744 1,016,433 412,124 324,915 2,519,445 371,469 250,827 358,055 228,870 941,396 Redemption fund - F.R. notes 9,275 422 1,678 1,000 658 1,206 652 846 597 626 308 258 1,024 Other cash 387,927 30,184 106,700 31,036 29,412 24,365 21,102 47,430 17,843 10,035 19,313 16,445 34,057 Total reserves 16,636,178 919,547 8,187,135 929,780 1,046,503 437,695 346,669 2,567,721 389,909 261,488 377,681 245,573 976,477 Bills discounted: Secured by TJ. S. Gov!t oblinations, direct and guaranteed 632 47 55 125 23 175 35 69 30 35 38 Other bills discounted 1,831 — 522 98 128 113 149 128 90 22 181 265 135 Total bills discounted 2,463 47 577 223 151 288 184 197 90 22 211 300 173 Industrial advances 9,852 11,,223344 22,,004400 22,,774422 314 915 803 337 186 112 482 687 U. S. Government securities, direct and guaranteed: Bonds 1,337,495 97,529 400,969 106,802 136,778 68,248 56,495 146,385 61,325 40,271 61,738 51,517 109,438 Notes 1,129,225 82,3-43 33^,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 2.52,256 125,870 104,195 269,975 113,100 74,271 113,861 95,012 201,835 Total bills and securities> 2,479,035 181,153 742,118 199,937 252,721 127,073 105,182 270,509 113,190 74,479 114,184 95,794 202,695 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F.R. notes of other banks 19,461 575 1,319 816 l,6l4 4,357 2,247 2,345 1,696 1,101 1,532 385 1,474 Uncollected items 763,669 70,814 195,229 54,667 91,470 64,762 32,617 104,692 32,480 18,751 32,519 27,650 38,018 Bank premises 41,625 2,875 9,840 4,541 5,510 2,526 2,023 3,373 2,263 1,389 3,197 1,159 2,929 Other assets 58,082 3,926 16,695 4,650 6,526 3,399 2,416 6,009 2,520 1,787 2,572 2,444 5,138 T O T AL A S S E TS 20,048,097 1,178,893 9,152,354 1,194,396 1,4O4,34S 639,814 491,156 2,954,655 542,059 358,995 531,686 373,006 1,226,735 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON APRIL 17, 1940 L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 4,931,115 405,444 1,287,810 344,729 450,501 216,478 159,584 1,084,200 193,083 141,634 182,672 79,439 385,541 Deposits* Menber bank-reserve acct. 12,757,391 621,877 7,013,375 675,057 755,574 287,585 235,063 1,590,182 255.726 148,250 265,006 208,443 701,253 U.S.Treasurer-General acct. 512,521 24,400 120.396 33,299 30,238 30,887 32,161 80,908 30,607 30,992 30,715 32,930 34,988 Foreign bank 384,229 27,360 137,541 37,492 35,580 16,451 13,390 45,909 11,477 8,417 11.095 11,477 28,040 Other deposits 377,569 6,594 288.397 17,548 9,817 10,702 6,847 _ 3,397 7_J917 5jt?34_ 1,740 2,007 _ 17^69 Total deposits 14,031,710 680,231 7,559,709 763,396 831,209 345,625 287,461 1,720,396 305.727 192,893 308,556 234,857 781,650 Deferred availability itens 728,857 68,410 181,710 53,100 89,027 62,279 31,151 104,669 32,221 15,152 29,786 27,334 34,018 Other liabilities including accrued dividends 3,902 378 1,048 386 456 114 149 476 124 154 259 142 216 ?0TAL LIABILITIES 19,695,584 1,154,463 9,030,277 l,l6l,6ll 1,371,193 624,496 478,345 2,909,741 531,155 349,833 521,273 361,772 1,201,425 C A P I T AL A C C O U N TS Capital paid in 136,132 9,341 51,075 11,905 14,011 5,276 4,632 13,629 4,121 2,950 4,378 4,107 10,707 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,725 22,S24 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 37,822 1,810 10,567 2,289 3,814 1,549 1,741 7,032 1,536 2,059 1,280 1,887 2,258 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,048,097 1,178,893 9,152,354 1,194,396 1,404,348 639,814 491,156 2,954,655 542,059 358,995 531,686 373,006 1,226,735 Connitnents to nake industrial advances 8,805 331 853 1,145 1,186 731 17 18 180 58 468 3,818 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 nonths to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,463 858 105 1,139 142 201 18 Industrial advances 9,852 1,426 61 271 689 1,432 1,445 2,085 2,443 U. S. Governnent securities, direct and guaranteed 2,466,720 224,796 248,417 731,708 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 17, 1940 (In thousands of dollars) Total Boston Ilevr York Phila. 01eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank by F.R.a ent 5,239,294 419,392 1,383,199 3&>,041 475,044 232,601 173,594 1,128,60-4 203,469 145,469 190,4^8 87,111 440,332 C Held by Federal Reserve bank 308,179 13,948 95,389 15,312 24,543 16,123 14,010 44,404 10,386 3,83.5 7,766 7,672 54,791 In actual circulation 4,931,115 405,444 1,287,810 344,729 450,501 216,478 159,584 1,084,200 193,083 141,634 182,672 79,439 385,541 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,375,500 440,000 1,405,000 375,000 479,000 250,000 180,000 1,140,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 794 47 150 125 245 - - 50 177 - - - - Total collateral 5,376,294 440,047 1,405,150 375,125 479,000 250,245 180,000 1,140,000 209,050 147,500 195,177 91,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis