H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Board of Governors Saturday morning, June 1; of the Federal Reserve System not earlier* May 31, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 29 member bank reserve balances decreased $8,000,000. Reductions in member bank reserves arose from increases of $72,000,000 in money in circulation, $1-4,000,000 in nonmember deposits and other Federal Reserve accounts and $8,000,000 in Treasury deposits with Federal Reserve banks and from a decrease of $9,000,000 in Reserve bank credit, offset in part by an increase of $91,000,000 in gold stock and a decrease of $4,000,000 in Treasury cash. Excess reserves of member banks on May 29 v/ere estimated to be approximately $6,360,000,000, a decrease of $10,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 29, 1940, were as follows: Increase or decrease since May 29, May 22, May 31, 1940 1940 1939 (in millions of dollars) Bills discounted 3 + 1 1 Bills bought 1 U. S. Gov't securities,direct and guaranteed 22,,447777 - 87 Industrial advances (not including 9 million commitments - May 29) 9 3 Other Reserve bonk credit 22 - 10 + 30 Total Reserve bank credit 2,511 - 9 - 62 Gold stock 19,162 + 91 +3,205 Treasury currency 3,007 — + 145 Member bank reserve balances 13,215 - s +3,186 Money in circulation 7,6S5 + 72 + 718 Treasury cash 2,200 - 4 - 436 Treasury deposits with F. R. banks 370 + 8 - 542 Nonmember deposits and other F. R. accounts 1,203 + 14 + 364 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fprn FR~283~a Released for publication Saturday morning, June 1, 1940; not earlier# STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 29, May 22, Hay 31, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 16,935,473 + 93,497 +3,617,751 Redemption fund - F. R. notes 9,0a + 1,284 + 474 Other cash , 359,026 - 15,348 + 12,359 Total reserves 17,303,520 + 79,433 +3,630,584 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,760 + 667 — 332244 Other bills discounted 1,303 + 69 — 671 Total bills discounted 3,063 + 736 - 995 Bills bought in open market — - - - 561 Industrial advances 99,,116611 71 — 3,326 S. Government securities, direct and guaranteed: Bonds 1,346,995 —• + 435,905 Notes 1,130,125 %mm - 45,984 Bills — - 476,816 Total U. S. Government securities, direct and guaranteed 2,477,120 — — — 86,895 Total bills and securities 2,489,344 + 665 91,777 - Due from foreign banks 47 114 - F. R* notes of other banks 19,262 - 2,115 232 - Uncollected items 637,292 - 26,355 + 86,063 Bank premises 41,555 40 909 - Other assets 63,561 + 1,096 + 9,423 T O T AL A S S E TS 20,554,581 + 52,184 +3,633,038 L I A B I L I T I ES F. R. notes in actual circulation 55,,003388,,338866 ++ 5533,,777755 + 561,622 Deposits: Member bank - reserve account 13,215,148 - 7,354 +3 ,186,094 U # S. Treasurer - General account 377,749 + 7,741 - 542,576 Foreign bank 440,086 - 9,768 + 155,280 Other deposits 509,464 + 24,703 + 208,334 Total deposits 14,542,447 + 15,322 +3,007,132 Deferred availability items 615,189 - 17,464 + 55,508 Other liabilities including accrued dividends 5,181 + 453 - 144 T O T AL L I A B I L I T I ES 20,,201,203 + 52,086 +3,624,118 C A P I T AL A C C O U N TS Capital paid in 136,151 + 24 + 1,206 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13B) 26,839 425 - Other capital accounts 38,668 + 74 + 5,571 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,554,581 + 52,184 +3,633,038 Ratio of total reserves to deposit and F. R. note liabilities combined 88.456 + ,1% + 33..00%% Commitments to make industrial advances 8,852 31 - 2,678 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEL1EITT OF OOIIDITIOII OF THE FEDERAL RESERVE BAIIKS ON MAI 29, 1940 (in thousands of dollars) A S S E TS Total Boston Hew lork Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 16,935,473 918,586 8,438,853 899,468 1,079,006 418,845 324,787 2.,<6 81,546 377,111 252,216 350,567 230,386 964,102 Redemption fund - F.R.notes 9,021 218 944 637 913 1,806 480 514 522 594 245 722 1,426 Other cash 359,026 31,102 102,456 25,620 22,943 22,395 20,334 47,584 17,165 6,982 19,551 13,763 .29,131 Total reserves 949,906 8,542,253 925,725 1,102,862 443,046 345,601 2,729,644 394,798 259,792 370,363 244,871 994,659 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,760 80 722 65 23 60 24 54 525 115 15 39 38 Other bills discounted 1,303 16 183 52 37 70 77 10 160 55 264 294 85 Total bills discounted 3*063 96 905 117 60 130 101 64 685 170 279 333 123 Industrial advances 9,l6l 11,,116633 22,,002288 2,614 335555 912 269 339 60 168 104 476 673 U. S. Government securities, direct and guaranteed: Bonds 1,346,995 98,199 404,247 107,604 137,752 68,663 56,851 147,369 61,672 40,510 6622,,009966 51,835 110,197 Notes 1,130,125 82,387 339,160 90,279 115,574 57,610 47,699 123,644 51,742 33,987 52,098 43,490 92,4-55 Total U. S. Gov't securities, direct and guaranteed P,A77jlP0 180,586 743,407 197,883 253,326 126,273 104,550 271,013 113,414 74,497 114,194 95,325 202,652 Total bills and securities 2,489,^44 181,845 746,340 200,614 253,741 127,315 104,920 271,416 114,159 74,835 114,577 96,134 203,448 Due from foreign banks 47 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 19,262 661 1,526 826 1,059 2,909 2,114 3,060 1,611 1,721 884 4 28 2,463 Uncollected items 637,292 60,299 158,427 49,355 80,499 54,442 22,810 88,870 27,798 14,725 26,497 20,754 32,816 Bank premises 41,555 2,866 9,839 4,520 5,486 2,513 2,016 3,362 2,322 1,336 3,181 1,153 2,911 Other assets 63,561 4,304 18,396 5,150 7,056 3,690 2,607 6,639 2,737 1,926 2,822 2,713 5,521 T O T AL A S S E TS 20,554,581 1,199,884 9,476,799 1,186,195 1,450,707 633,917 480,070 3,102,997 543,426 354,385 518,325 366,054 1,241,822 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-C STATELIEST OF OORDITIOU OF THE FEDERAL RESERVE EAITKS OR MAI 29, 1940 (In thousands of dollars} L I A B I L I T I ES Total Boston !Jew York Phila. Oleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,038,386 411,985 1,335,121 351,686 459,813 221,348 161,433 1,102,848 193,051 141,839 182,878 78,224 398,160 Deposits: Member bank-reserve acct. 13,215,148 648,364 7,191,608 665,178 799,350 291,243 240,015 1,765,511 270,301 156,4-35 263,873 217,091 706,179 U.S.Treasurer-General acct. 377,749 16,647 105,373 27,226 29,139 26,012 22,440 40,614 21,865 18,242 21,048 23,109 26,034 Foreign bank 440,086 31,653 154,606 43,401 41,186 19,043 15,500 53,1.44 13,286 9,743 12,843 13,286 32,395 Other deposits 509,464 7,755 421,358 16,571 _ 8,083 _ 7^262 J ± 742 4,910 _ 5,847 5_,227 440_ 2,819 __23_,450 Total deposits 14,542,447 704,419 7,872,945 752,376 877,758 343,560 283,697 1,864,179 311,299 189,647 298,204 256,305 788,058 Deferred availability items 615,189 58,534 144,887 48,685 79,345 53,479 21,877 90,336 27,958 13,541 26,523 20,050 29,974 Other liabilities including accrued dividends 5,181 474 1,488 578 551 190 207 630 149 164 279 193 278 TOTAL LIABILITIES 20,201,203 1,175,412 9,354,441 1,153,325 1,417,467 618,577 467,214 3,057,993 532,457 345,191 507,884 354,772 1,216,470 0! IP I T A L A C C 0 U IT T S Capital paid in 136,151 9,332 51,039 11,918 14,000 5,276 4,632 13,649 4,131 2,958 4,378 4,124 10,714 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 38.668 1,861 10.884 ,._2»36l Jkm__.li271 lt52l. 2*083.. •1*3.08. „1,.2.18... — TOTAL LIABILITIES A1JD CAPITAL ACCOUNTS 20,554,581 1,199,884 9,476,799 1,186,195 1,450,707 633,917 480,070 3,102,997 543,426 354,3855 18,325 366,054 1,241,822 Commitments to make industrial advances 8.852 332222 831 11,,114444 11,,117733 669933 551155 1188 117755 57 167 - - 3,757 MATURITY DISTRIBUTION OF BILLS AIID 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 3,063 2,081 206 208 136 4-32 Industrial advances 9,161 1,561 145 634 875 785 1,142 1,907 2,112 U. S. GcveriiKeiit securities, direct raid guaranteed 2,477,120 224,796 248,417 732,608 1,271,299 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-C FEDERAL RESERVE HOTS STAIIIEIIT ON MAY 29, 1940 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Kans.Cy. Dallas San Fran. Federal Reserve notes J Issued to F.R. bank by F.Reagent 5,349,723 4-25,623 1,432,609 ^67,213 482,615 236,934 174,920 1,145,939 203,968 1/7,258 193,151 85 56n 453,853 f Held by Federal. Reserve bank 311,337 13,638 >7,560 15,527 22,802 15,586 13,407 43,0yl 10,917 5,419 10,273 7,336 55,693 In actual circulation 5,038,386 411,985 1,335,121 351,686 459,813 221,348 161,433 1,102,848 193,051 141,839 182,878 78,224 398,160 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,455,500 440,000 1,455,000 375,000 484,000 250,000 180,000 1,160,000 209,000 148,500 200,000 90,000 464,000 Eligible paper 2,307 96 905 97 - - 130 - - - - 630 170 279 Total collateral Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis