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, May 3; of the Federal Reserve System not earlier* May 2, 1940 CONDITION OF FEDERAL RESERVE BANKS During the week ended May 1 member bank reserve balances decreased $13,000,000. Reductions in member bank reserves arose from increases of $50,000,000 in money in circulation* $20,000,000 in 'Treasury deposits vath Federal Reserve banks, and $20,000,000 in non»«ber deposits and other Federal Reserve accounts, offset in part by a decreo.se of $12,000,000 in Treasury cash and increases of $63,000,000 in gold stock and $3,000,000 in Treasury currency. Excess reserves of member banks on May 1 v/ere estimated to be approximately $6,110,000,000,-' a decrease of $10,000,000 for the week* Changes in member bank reserve balances and related items during the v/eek and the year ended May 1, 1940, v/ere as follows 1 Increase or decrease since May 1, April 24, May 3, 1940 1940 1939 (in millions of dollars) Bills discounted 3 +1 Bills bought - - - - 1 U. S. Gov't securities,direct and guaranteed 2,467 97 Industrial advances(not including 9 million commitments - May l) 9 - 1 - 4 Other Reserve bank credit 21 - 1 + 30 Total Reserve bank credit 2,500 - 1 - 72 Gold stock 13,771 + 63 +2,970 Treasury currency 3,000 + 3 + 149 Member bank reserve balances 12,870 - 13 +2,998 Money in circulation 7,570 + 50 + 655 Treasury cash 2,293 - 12 - 398 Treasury deposits with F. R. banks 490 + 20 - M6 Nonmember deposits and other F. R. accounts 1,049 + 20 + 240 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form KR-283-a Released for publication Friday morning, May 3, 1940i not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 1, April 24, May 3, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 16,442,978 + 64,501 +3,323,260 Redemption fund - F. R. notes 9,640 + 500 + 1,817 Other cash 379,962 9,663 + 16,456 - Total reserves 16,832,580 + 55,338 +3,341,533 Bills discounted! Secured by U. S. Gov't obligations, •direct and guaranteed 621 + 178 — 1,152 Other bills discounted 2,047 + 118 + 330 Total bills discounted 2,668 + 296 - 822 Bills bought in open market 562 - Industrial advances 9,333 - 585 - 3,478 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 — Mi 97,295 Total bills and securities 2,478,721 289 102,157 - Due from foreign banks 47 113 - F. R. notes of other banks 21,751 - 362 + 2,113 Uncollected items 688,329 + 49,608 + 78,424 Bonk premises 41,533 - 88 - 1,016 Other assets 59,524 + 379 + 8,830 T O T AL A S S E TS 20,122,485 +104,586 +3,327,614 L I A B I L I T I ES F. R. notes in actual circulation 44,,994455,,550000 + 26,997 + 480,496 Deposits! Member bank - reserve account 12,869,916 13,118 +2,997,776 - U.S. Treasurer - General account 490,106 + 20,132 446,165 - Foreign bank 357,212 19,190 + 131,556 - Other deposits 435,912 + 39,617 + 107,655 Total deposits 14,153,146 + 27,44-1 +2,790,822 Deferred availability items 666677,,004411 + 50,580 + 48,098 Other liabilities including accrued dividends 4,064 502 4 55 - - T O T AL L I A B I L I T I ES 19,769,751 +104,516 +3,318,961 C A P I T AL A C C O U N TS Capital paid in 136,113 - 12 + 1,115 Surplus (Section 7) 151,720 — — + 2,568 Surplus (Section 13b) 26,839 — — - 42.5 Other capital accounts 38,062 + 82 + 5,395 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,122,485 +104,586 +3,327,614 Ratio of total reserves to deposit and R. note liabilities combined 8888..11%% — — + 2.9% Commitments to make industrial advances 9,225 + 500 - 2,497 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2o'3~b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAI 1, 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 16,442,978 888,133 8,221,053 904,183 1,032,549 416,966 307,959 2,559,398 361,456 233,662 356,52.32 .32,259 928,837 Redemption fund - F.R.notes 9,640 380 1,559 370 601 1,192 574 771 568 616 280 748 I,4FI Other cash 379,962 31,570 105,899 29,482 25,533 23,282 21,104 47,726 17,089 9,594 19,350 15,684 33,649 Total reserves 16,8^2,580 920,083 8,328,511 934,535 1,058,683 441,440 32.9,637 2 607,895 379,113 243,872 376,153 248,691 963,967 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 621 77 270 30 13 40 19 54 25 30 5 35 23 Other bills discounted 2,047 590 130 130 113 106 128 140 62 243 270 13 5_ Total bills discounted 2.668 77 860 I60 143 153 125 182 165 92 248 305 158 Industrial advances 9,333 11,,119999 22,,002288 22,,770088 335533 991100 330011 333399 60 172 111 479 667733 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 4.0,271 61,738 51,517 109,438 Notes 1,129,225 02,343 338,532 90,170 115,478 57,622 47,700 123,590 51,775 34,000 52,123 43,495 Total IT.. 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 2,478,721 lol,l48 742,389 199,840 252,752 126,933 104,621 270,496 113,325 74,535 114,220 95,796 202,666 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 21,751 848 1,584 910 1,672 3,994 2,598 3,213 1,708 749 1,539 708 2,228 Uncollected items 688,329 66,641 168,013 53,749 81,766 53,516 30,606 96,423 29,214 17,570 31,702 24,831 34,298 Bank premises 41,533 2,871 9,821 4,530 5,498 2,519 2,019 3,367 2,268 1,386 3,181 1,153 2,920 Other assets 59,524 4,026 17,095 4,711 6,668 3,467 2,475 6,172 2,601 1,835 2,654 2,566 5,254 T O T AL A S S E TS 20,122,485 1,175,620 9,267,431 1,198,280 1,407,043 631,871 471,958 2,987,572 528,230 339,947 529,450 373,746 1,211,337 *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 24,1 940 (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 4,945,500 405,301 1,289,308 345,472 452,834 218,645 160,356 1,088,560 192,777 142,507 182,466 79,959 387,315 Deposits: Member bank—reserve acct, 12,869,916 627,747 7,055,987 692,572 765,069 294,504 225,799 1,656,493 249,989 131,255 264,018 213,489 692,994 U.S.Treasurer-General acct. 490,106 20,193 167,353 22,153 31,106 29,160 23,938 52,998 28,271 28,049 29,641 28,156 29,088 Foreign bank 357,212 25,628 126,259 35,104 33,312 15,402 12,537 42,984 10,746 7,880 10,388 10,746 26,226 Other deposits 435,912 6,656 350,668 13,769 8,839 6,428 6,531 5,059 6,825 5,688 __ 1,706 _ 5,806 7*937. Total deposits 14,153,146 680,224 7,700,267 763,598 838,326 345,494 268,805 1,757,534 295,831 172,872 305,753 258,197 766,245 Deferred availability items 667,041 65,248 154,623 56,012 82,231 52,287 29,808 96,055 28,582 15,228 30,558 24,195 32,214 Other liabilities including accrued dividends 4,064 4l6 1,108 384 460 130 166 491 112 166 257 146 228 TOTAL LIABILITIES 19,769,751 1,151,189 9,145,306 1,165,466 1,373,851 616,556 459,135 2,942,640 517,302 330,773 519,034 362,497 1,186,002 C A P I T AL A C C O U N TS Capital paid in 136,113 9,336 51,049 11,911 14,013 5,276 4,632 13,624 4,122 2,955 4,377 4,111 10,707 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 1,429 538 1,001 1,142 1,266 2,121 Other capital accounts 38,062 1,816 10,641 2,312 3,849 1,546 1,753 7,055 1,559 2,066 1,284 1*898 2^28J_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,122,485 1,175,620 9,267,431 1,198,280 1,407,043 631,871 471,958 2,987,572 528,230 339,947 529,450 373,746 1,211,337 Commitments to make industrial advances 9,225 330 849 1,145 1,182 713 516 18 179 58 A57 - - 3,778 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Total 15 davs 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,668 927 1,059 224 189 262 7 Industrial advances 9,333 1,437 77 244 646 1,413 2,012 2,175 U. S. Government securities, 1,329 direct .and guaranteed 2,466,720 248,417 731,708 1,261,799 224,796 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d. FEDERAL RESERVE NOTE STATEMENT OH MAY 1, 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 5,246,984 419,046 1,386,4-26 362,503 474,951 234,476 173,345 1,129,275 202,923 145,814 190,525 86,2.40 441,460 Held by Federal Reserve bank 301,484 13,745 97,118 17,031 22,117 15,831 12,989 40,715 10,146 3,307 8,059 6,281 54,145 In actual circulation 4,945,500 405,301 1,289,308 345,472 452,834 218,645 160,356 1,088,560 192,777 142,507 182,466 79,959 387,315 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,374,500 440,000 1,405,000 375,000 479,000 250,000 180,000 1,140,000 209,000 147,500 195,000 90,000 464,000 Eligible paper 1,059 77 433 62 - - 110 - - - - 90 70 217 - - Total collateral 5,375,559 440,077 1,405,433 375,062 479,000 250,110 180,000 1,140,000 209,090 147,570 195,217 90,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis