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 10; of the Federal Reserve System not earlier. May 9, 1940 CONDITIO!! OF THE FEDERAL RESERVE BANKS During the week ended May 8 member bank reserve balances increased $7,000,000. Increases in member bank reserves arose from increases of $64,000,000 in gold stock, $7,000,000 in Reserve bank credit and $4,000,000 in Treasury currency, offset in part by increases of $19,000,000 in money in circulation, $16,000,000 in Treasury cash, $22,000,000 in Treasury deposits vjith Federal Reserve banks and $9,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on May 8 were estimated to be approximately $6,130,000,000, an increase of $20,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 8, 1940, were as follows: Incrcaei e or decrease since Kay 8, May 10 - x J 1940 1940 1939 (In millions of dollars) Bills discounted 3 - 1 Bills bought - 1 U. S. Gov't securities,direct and guaranteed 22,,446677 - 97 Industrial advances (not including 9 million commitments - I.Iay 8) 9 - 4 Other Reserve bank credit 29 + 8 + 35 Total Reserve banlc crodit 2,507 + 7 - 68 Gold stock 18,835 + 64 +2,979 Treasury currency 3,004 + 4 + 150 Llenber bank reserve balances 12,877 + 7 +2,910 Money in circulation 7,589 + 19 + 685 Treasury cash 2,309 + 16 - 369 Treasury deposits with F. R. banks 512 + 22 - 447 lionmember deposits and other F. R. accounts 1,058 + 9 + 282 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d. Released for publication Friday morning, May 10,1940; not earlier. STATEMENT OF CONDITION OF THE TTCBLVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since May 8, Hay 1, May 10, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 16,496,977 + 53,999 +3,, 298,259 Redemption fund - F. R. notes 9,087 - 553 + 11 Other cash ^66,076 - 13,886 + 6,251 Total reserves 16,872,140 + 39,560 +3,304,521 Bills discounted: Secured by U. S. Govft obligations, direct and guaranteed 742 121 1,372 - Other bills discounted 2*053 + 6 + 95 Total bills discounted 2,795 + 127 - 1,277 Bills bought in open market — 562 - Industrial advances 99,,22..9966 - 37 — 3,514 U.S. Government securities, direct and guaranteed: Bonds 1,337,495 + 442266,,440055 Notes 11,,112299,,222255 - 46,884 Bills 476,816 - Total U. S. Government securities, direct and guaranteed 2,466,720 — — — 97,295 Total bills and securities 2,478,811 + 90 102,648 - Due from foreign banks 47 - - - 114 F.R. notes of other banks 22,197 + 446 + 3,206 Uncollected items 599,213 - 89,116 + 49,687 Bank premises 41,536 + 3 - 1,013 Other assets 60,293 + 769 + 0,674 T O T AL A S S E TS 20,074,237 - 48,248 +3,262,313 L I A B I L I T I ES F. R. notes in actual circulation 44,,995544,,778833 + 99,,228833 + 449955,,441199 Deposits: Member bank - reserve account 12,877,017 + 7,101 +2,910,112 U. S. Treasurer - General account 512,185 + 22,079 - 447,104 Foreign bank 360,819 + 3,6 07 + 110,324 Other deposits 441,280 5,368 + 171,060 Total deposits 14,191,301 + 38,155 +2,744,392 Deferred availability items 557700,,775500 - 96,291 + 14,568 Other liabilities including accrued dividends 4,484 420 - 567 T O T AL L I A B I L I T I ES 19,721,318 - 48,433 +3,253,812 C A P I T AL A C C O U N TS Capital paid in 136,117 + 4 + 1,135 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13B) 26,839 — - 425 Other capital accounts 38,243 + 181 + 5*223 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,074,237 - 48,248 +3,2.62,313 Ratio of total reserves to deposit and F. R. note liabilities combined 88.1$ + 2.5fo - - Commitments to make industrial advances 8,965 - 260 - 2,721 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2S3-b STATEMENT OF CONDITIOII OF THE FEDERAL RESERVE BANKS ON MARCH 27,. 1940 £ln thousands of cellars) A S S E TS Total Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 16,496,977 904,905 8,134,966 924,840 1,049,567 414,258 325,861 2,572,461 360,045 280,574 359,912 235,606 933,982 Redemption fund - F.R.notes 9,087 301 1,253 755 506 1,511 528 632 543 605 263 736 1,454 Other cash 366,076 32,078 109,594 28,420 24,252 19,977 18,506 48,042 16,851 8,411 16,977 15,357 27,611 Total reserves 16.872.140 937,284 8 ,245,813 954,015 1,074,325 435,746 344,895 2,621,135 377,439 289,590 377,152 251,699 963,047 Bills discounted« Secured by U, S. Gov't obligations, direct and guaranteed 742 62 310 46 23 75 19 54 50 30 15 35 23 Other bills discounted 2,053 567 130 119 113 78 128 140 62 266 305 145 Total bills discounted 2,795 62 877 176 142 188 97 182 190 92 281 340 168 Industrial advances 9,296 11,,119966 22,,002288 2,688 335599 991100 288 337 60 170 110 477 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 40,271 61,738 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 2/78,811 181,130 742,406 199,836 252,757 126,968 104,580 270,494 113,350 74,533 114,252 1 0\ i * ! CO .202,676 Due from foreign banks 47 3 18 5 4 2 2 6 1 1 1 4 F. R. notes of other banks 22,197 693 1,631 936 1,698 4,453 2,111 3,370 1,829 1,032 1,854 482 2,108 Uncollected items 599,213 59,317 139,926 47,170 66,878 52,144 21,926 87,782 28,183 15,969 28,659 22,482 28,777 Bank premises 41,536 2,871 9,823 4,530 5,498 2,519 2,019 3,367 2,269 1,386 3,181 1,153 2,920 Other assets 60,293 4,089 17,342 4,784 6,745 3,517 2,483 6,264 2,637 1,858 2,676 2,584 5,314 T O T AL A S S E TS 20,074,237 1,185,387 9,156,959 1,211,276 1,407,905 625,349 478,016 2,992,418 525,708 384,368 527,775 374,230 1,204,846 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form ra-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAY 8, 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 cirt culation 4,954,783 406,251 1,286,607 346,097 456,441 217,972 160,355 1,091,644- 192,422 143,059 102,376 79,580 391,979 Deposits t Member bank-reserve acct. 12,877,017 634,796 6,963,746 709,860 763,144 299,022 239,655 1,664,747 248,704 176,768 268,466 215,370 692,739 U.S.Treasurer-General acct. 512,185 29,524 159,612 26,407 45,947 21,050 24,767 6l,39C 29,077 2.8,426 2.6,665 31,557 24,255 Foreign bank 360,819 25,617 129,o76 35,104 33,313 15,402 12,537 42,984 10,746 7,880 10.3GG Io,746 26,226 Other deposits 441,280 6,501 361,664 13,622 8,144 5,2.29 6,207 3,737 6,617 1,739 3,801 18,888 Total deposits 14,191,301 696,438 7,614,898 784,993 853,548 340,703 283,166 1,773,366 295,144 218,205 397,258 261,474 762,108 Deferred availability items 570,750 57,849 131,997 46,937 64,235 51,204 21,482 81,891 27,068 13,746 27,'.46 21,759 25,136 Other liabilities including accrued dividends 4,484 418 1,273 424 474 153 181 559 130 178 254 164 276 TOTAL LIABILITIES 19,721,318 1,160,956 9,034,775 1,178,451 1,374,698 610,032 465,184 2,947,460 514,764 375,188 517,334 362,977 1,179,499 C A P I T AL A C C O U N TS Capital paid in 136,117 9,331 51,049 11,911 14,016 5,276 4,632 13,624 4,128 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 38,243 1,821 10,700 2,323 3,86l 1,548 1,762 7,081 1,569 2,072 1,309 1,902 _2_, 295 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,074,237 1,185,387 9,156,959 1,213.,276 1,407,905 625,349 478,016 2,992,418 525,708 384,368 527,775 374,230 1,204,846 Commitments to make industrial advances 8,965 329 848 1,145 1,185 701 516 18 179 58 175 - - 3,811 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 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,795 969 1,137 190 190 304 5 Industrial advances 9,296 1,590 86 737 916 626 1,970 2,121 U. S. Government securities, 1,250 direct and guaranteed 2,466,720 248,417 731,70S 1,2.61,799 224,796 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d. FEDERAL RESERVE NOTE STATEMENT ON L1AI S, 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 5,275,419 424,021 1,392,823 364,811 478,370 235,388 174,786 1,132,160 202,710 147,544 194,502 86,535 441,769 Held by Federal Reserve bank 320,636 17,770 106,216 18,714 21,929 17,4l6 14,431 40,516 10,288 4,485 12,126 6,955 49,790 In actual circulation 4,954,783 406,251 1,286,607 346,097 456,Ml 217,972 160,355 1,091,644 192,422 143,059 182,376 79,580 391,979 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 1,140,000 209,000 148,500 195,000 90,000 464,000 Eligible paper 1,170 62 450 78 - - 145 - - - - 115 70 250 - - Total collateral 5,376,670 440,062 1,405,450 375,078 479,000 250,145 180,000 1,140,000 209,115 148,570 195,250 90,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis