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 261 of the Federal Reserve System not earlier. April 25, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended April 24 member bank reserve balances increased $126,000,000. Additions to member bank reserves arose from decreases of $4-3*000,000 in Treasury deposits with Federal Reserve bonks, $16,000,000 in money in circulation, and $8,000,000 in Treasury cash, and increases of $77,000,000 in gold stock and $5,000,000 in Treasury currency, offset in part by a decrease of $13,000,000 in Reserve bank credit and an increase of $10,000,000 in nomiember deposits and other Federal Reserve accounts. Excess reserves of member banks on April 24 were estimated to be approximately $6,120,000,000, an increase of $70,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended April 24, 1940, were as follows: Increase or decrease since April 24, April 17, April 26, 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 24) 10 — 3 Other Reserve bank credit 22 - 13 + 23 Total Reserve bank credit 2,501 - 13 - 79 Gold stock 18,708 + 77 +2,994 Treasury currency 2,997 + 5 + 148 Member bank reserve balances 12,883 + 126 +2,980 Money in circulation 7,520 - 16 + 660 Treasury cash 2,305 - 8 - 388 Treasury deposits with F. R. banks 470 - 43 - IJonmember deposits and other F. R. accounts 1,029 + 10 + 257 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a -Released for publication Friday morning, April 26,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since April 24, April 17, April 26, 1940 .1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 16,378,477 + 89,501 +3,347,761 Redemption fund - F. R. notes 9,140 - 135 + 794 Other cash 389,625 + 1,698 + 7,732 Total reserves 16,777,242 + 91,064 +3,356,287 Falls discounted» Secured by U. S. Gov't obligations, direct and guaranteed 443 189 - 967 Other bills discounted 1,929 + 98 + 301 Total bills discounted 2,372 91 - 666 Bills bought in open market — - - — - 562 Industrial advances 99,,991188 + 66 - 33,,337733 U. S. Government securities, direct and guaranteed: Bonds 1,337,495 — + 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 2,479,010 2.5 - 101,896 Due from : foreign banks 47 — - 113 F. R. notes of other banks 22,113 + 2,652 + 1,137 Uncollected items 638,721 -124,948 + 58,204 rank premises 41,621 4 978 - Other assets 59,145 + 1,063 + 8,747 T O T AL A S S E TS 20,017,899 - 30,198 +3,321,388 L I A B I L I T I ES F. R. notes in actual circulation 44,,991188,,550033 - 12,612 + 485,114 Deposits* Member bank - reserve account 12,8S3,034 +125,643 +2,980,225 U. S. Treasurer - General account 469,974 - 42,547 - 442,936 Foreign bank 376,402 - 7,827 + 149,446 Other deposits 396,295 + 18,726 + 106,837 Total deposits 14,125,705 + 93,995 +2,793,572 Deferred availability itens 661166,,446611 --111122,,339966 + 34,402 Other liabilities including accrued dividends 4,566 + 664 8 - T O T AL L I A B I L I T I ES 19,665,235 - 30,3 49 +3,313,080 C A P I T AL A C C O U N TS Capital paid in 136,125 7 + 1,153 Surplus (Section 7) 151,720 - — + 2,568 Surplus (Section 13b) 2.6,839 - 4-25 Other capital accounts 37,980 + 158 + 5,012 TOTAL LIABILITIES Al:D CAPITAL ACCOUNTS 20,017,899 - 30,198 +3,321,388 Ratio of total reserves to deposit and F. R. note liabilities combined 88.1% + .1% + 3,0% Commitments to make industrial advances 8,725 80 3,024 - 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) 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- 16,378,477 884,786 8,167,190 905,236 1,018,356 413,621 316,893 2,517,492 367,819 2.46,568 356,193 234,103 950,220 Redemption fund - F.R. notes 9,140 380 1,559 870 601 1,192 574 771 568 616 280 248 1,481 Other cash 389,625 31,273 112,808 29,759 25,876 22,403 20,008 50,456 17,330 10,085 17,850 16,785 34,992 Total reserves 16,777,242 916,439 8,281,557 935,865 1,044,833 437,216 337,475 2,568,719 385,717 257,269 374,323 251,136 986,693 Bills discounted: Secured by U. S. Gov!t obligations, direct and guaranteed 443 67 65 5 23 90 36 69 30 35 23 Other bills discounted 1,929 509 132 130 113 134 128 90 22 261 275 135 Total bills discounted 2,372 67 574 137 153 203 170 197 90 52 261 310 158 Industrial advances 9,918 11,,222299 22,,003300 2,731 364 915 802 339 61 176 112 4S2 677 U. S. Government securitie 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 6l,73o 51,517 109,438 Notes 1,129,225 82,>43 338,532 90,170 115,478 57,622 47,700 123,590 51,775 34,000 52,123 4-3,495 . ^397 Total U. S. Govft securities, direct and guaranteed 2,466,720 179,872 739,501 196,972 252,256 125,870 104,195 269,97-5 113,100 74,271 113,861 95,012 201,835 Total bills and securities 2,479,010 181,168 742,105 199,840 252,773 126,988 105,167 270,511 113,251 74,499 114,234 95,804 202,670 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 22,113 589 1,810 963 1,569 5,175 2,567 2,730 2,287 433 1,411 680 1,899 Uncollected items 638,721 62,972 151,152 44,342 75,782 51,657 24,421 83,676 27,793 17,896 34,229 32,210 32,591 Bank premises 41,621 2,875 9,840 4,541 5,498 2,526 2,022 3,373 2,272 1,389 3,197 1,159 2,929 Other assets 59,145 3,977 17,036 4,890 6,592 3,438 2,437 6,118 2,562 1,812 2,608 2,469 5,206 T O T AL A S S E TS 20,017,899 1,168,023 9,203,518 1,190,446 1,387,051 627,002 474,091 2,935,133 533,883 353,298 530,003 383,459 1,231,992 "*Less than $500. 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 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 4,918,503 404,864 1,278,131 345,268 451,407 218,105 159,278 1,083,799 192,143 141,524 181,754 79,152 383,078 Depositsl Member bank-reserve acct. 12,333,034 624,150 7,073,238 690,016 754,668 295,758 233,681 1,623,077 254,187 142,135 265,028 212,604 714,492 U.S.Treasurer-General acct. 469,974 19,136 150,837 26,973 28,903 23,875 23,339 •46,457 30,248 31,625 26,033 32,479 30,069 Foreign bank 376,402 27,205 131,853 37,162 35,266 16,306 13,272 45,504 11,376 8,342 10,997 11,376 27,743 Other deposits 396,295 6,928 309,630 15,905 8,848 6,230 7,853 3*694 6,897 4,979 _ 2,153 2,103 21^075 Total deposits 14,125,705 677,419 7,665,558 770,056 827,685 342,169 278,145 1,718,732 302,7081 87,081 304,211 258,562 793,379 Deferred availability items 6l6,46l 60,918 136,492 41,683 74,305 51,257 23,678 87,146 27,994 15,355 33,345 34,342 29,946 Other liabilities including accrued dividends 4,566 382 1,214 641 483 141 171 537 129 167 2.65 165 271 TOTAL LIABILITIES 19,665,235 1,143,583 9,081,395 1,157,648 1,353,880 611,672 461,272 2,890,214 522,974 344,127 519,575 372,221 1,206,674 C A P I T AL A C C O U H T. 3 Capital paid in 136,125 9,335 51,068 11,911 14,011 5,276 4,632 13,624, 4,121 2,955 4,377 4,108 10,707 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,725 22,324 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 37,980 1,826 10,620 2,296 3,830 1,561 1,749 7,042 1,541 2,063 1,296 1,890 2,266 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,017,899 1,168,023 9,203,518 1,190,446 1,387,051 627,002 474,091 2,935,133 533,883 353,298 530,003 383,459 1,231,992 Commitments to make industrial advances 8,725 330 852 1,14-6 1,181 717 16 18 120 59 468 3,818 MATURITY DISTRIBUTION OF BILLS AMD SECURITIES Within 16 to 31 to 61 to 91 days to o 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 2,372 707 51 1,198 161 233 22 Industrial advances 9,918 1,447 84 236 629 1,430 1,461 2,130 2,451 U. S. Government 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 24, 1940 (In thousands of dollars) Total Boston New York Phila, Clove. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank by F.R.agent 5,245,738 417,541 1,388,966 361,877 475,452 234,758 173,942 1,126,072 202,470 145,773 190,180 86,863 441,844 Held by Federal Reserve bank 327,235 12,677 110,835 16,609 24,0^5 16,653 14,664 42,273 10,3-27 4,249 8,426 7,711 58,766 In actual circulation 4,918,503 404,864 1,278,131 345,268 451,407 218,105 159,278 1,083,799 192,143 141,524 181,754 79,152 383,078 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 719 67 147 39 160 - - 50 30 226 - Total collateral 5,376,219 440,067 1,405,147 375,039 479,000 2.50,160 180,000 1,140,000 209,050 147,530 195,226 91,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis