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, June 7? of the Federal Reserve System not earlier. June 6, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 5 member bank reserve balances increased $172,000,000, Additions to member bank reserves arose from increases of $119,000,000 in gold stock and $19,000,000 in Reserve bank credit and decreases of $70,000,000 in Treasury deposits -with Federal Reserve banks, and $2,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $33,000,000 in money in circulation and $5,000,000 in Treasury cash. Excess reserves of member banks on June 5 were estimated to be approximately $6,530,000,000, an increase of $170,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 5, 1940, were as follows! Increase or decrease since June 5, May 29, June 7, 1940 1940 1939 (In millions of dollars) Bills discounted 3 • - _ - Bills bought - 1 • - U. S. Gov,t securities,direct and guaranteed 22,,447777 - 87 Industrial advances (not including 9 million commitments ~ June 5) 9 • - - 3 Other Reserve bank credit 41 + 19 + 45 Total Reserve bank credit 2,530 + 19 - 46 Gold stock 19,2,81 + 119 +3,294 Treasury currency 3,008 + 1 + 144 Member bank reserve balances 13,387 + 172 +3,334 Money in circulation 7,718 + 33 + 732 Treasury cash 2,205 + 5 - 366 Treasury deposits with F, R. banks 308 70 - 627 - Nonmember deposits and other F.R, accounts 1,201 2 + 31S - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Porn FR-283-a Released for publication Friday norning, June 7,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since June 5, Hay 29, June 7, 1940 194c 19?9 A S S E TS Gold certificates on hand and due fron U. S. Treasury 17,053,492 +118,019 +3:, 661,773 Redemption fund - F. R. notes 10,490 + 1,469 + 1,217 Other cash 248,578 - 10,448 1,298 — Total reserves 17,412,560 +109,040 +3,661,692 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,450 310 - 358 Other bills discounted 1,332 + 29 327 - Total bills discounted 2,782 281 - 685 Bills bought in open narket 561 — — - Industrial advances 9,088 73 - 33,,334411 U. S. Government securities, direct and guaranteedt Bonds 1,346,995 + 435,905 Notes 1,130,125 45,984 - Bills 476,816 - - - Total U. S. Govern]?;ent securities, direct and guaranteed 2,477,120 86,895 — — - Total bills and securities 2,488,990 354 - 91,482 Due from foreign banks 47 _ _ - 114 F. R. notes of other banks 18,871 391 - 741 Uncollected items 673,347 + 36,055 + 93,492 Bank premises 41,511 44 942 - Other assets 64,396 + 835 + 7,406 T O T AL A S S E TS 20,699,722 +145,141 +3 ,669,311 L I A B I L I T I ES F. R. notes in actual circulation 55,,006655,,223399 ++2266,,885533 + 558888,,992299 Depositsi Member bank - reserve account 13,386,697 +171,549 +3**334,054 U. S. Treasurer ~ General account 308,135 - 69,614 - 626,829 Foreign bank 454,181 + 14,095 + 144,581 Other deposits 494,321 " 15,143 + 173,880 Total deposits 14,643,334 +100,887 +3,025,686 Deferred availability items 632,339 + 17,150 + 48,132 Other liabilities including accrued dividends 5,277 + 96 1,550 - T O T AL L I A B I L I T I ES 20,346,189 +144,986 +3,661,197 C A P I T AL A C C O U N TS Capital paid in 136,165 + 14 + 1,212 Surplus (Section 7) 151,720 ; — — + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 38,809 + 141 + 4,759 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,699,722 +145,141 +3,669,311 Ratio of total reserves to deposit and F. R. note liabilities combined 88.4$ + 3,0% - - Commitments to make industrial advances 8,828 24 - 2,645 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 ilexv York Phila. Cleve. Rich. Atlanta Chicago St.Louis llinn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 17,053,492 944,878 8,443,951 892,154 1,078,403 428,891 335,192 2,703,548 414,654 260,057 344,538 232,780 974,446 Redemption fund - F.R.notes 10,490 2,179 852 615 851 1,781 369 454 511 549 228 716 1,385 Other cash 348,578 29,478 102,598 24,963 23,490 20,209 17,767 48,279 16,382 6,296 17,698 13,792 27,626 Total reserves 17,412,560 976,535 8,547,401 917,732 1,102,744 450,881 353,328 2,752,281 431,547 266,902 362,464 247,288 1,003,457 Bills discounted: Secured by U. S. Gov't oblin ations, direct and guaranteed 1,450 70 990 49 23 60 24 54 80 23 39 38 Other bills discounted 1,332 13 188 29 36 70 95 10 160 34 2.87 279 81 Total bills discounted 2,782 83 1,178 78 59 130 119 64 160 164 310 318 119 Industrial advances 99,,008888 11,,116633 2,010 22,,558888 350 912 267 330 60 163 102 475 668 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 62,096 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 92,455 , v Total U. S. GovTt securities direct and guaranteed 2,477,120 180,586 743,407 197,883 253,326 126,273 104,550 271,013 113,414 74,497 114,194 95,325 202,652 Total bills and securities 2,438,990 181,832 746,595 200,549 253,735 127,315 104,936 271,407 113,634 74,824 114,606 96,118 203,439 Due from foreign banks 47 3 18 5 4 2 2 0/ 1 * 1 1 4 F. R. notes of other banks 18,371 534 1,366 962 1,539 2,442 2,072 2,970 1,990 411 1,238 508 2,839 Uncollected items 673,347 62,690 154,581 50,047 73,497 62,743 33,687 90,294 32,628 17,379 29,861 30,852 35,088 Bank premises 41,511 2,866 9,820 4,5,20 5,486 2,513 2,016 3,362 2,321 1,384 3,165 1,147 2,911 Other assets 64,396 4,366 18,434 5,371 7,140 3,701 2,630 6,666 2,798 1,97-1 2,857 2,784 5,628 T O T AL A S S E TS 20,699,722 1,228,826 9,478,265 1,179,186 1,444,145 649,597 498,671 3,126,986 584,919 362,871 514,192 378,698 1,253,366 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE-283-C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JUNE 5, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F, R.notes in actual circulation 5,065,239 415,642 1,341,163 352,194 458,871 222,831 163,682. 1,105,868 193,651 142,536 185,218 79,564 404,019 Deposits: Member bank-reserve acct. 13,386,697 678,461 7,229,475 657,833 810,102 312,611 249,848 1,792,606 309,645 162,362 259,598 219,815 704,341 U.S.Treasurer-General acct. 308,135 10,916 77,328 27,563 21,901 14,856 20,425 35,721 18,808 19,211 16,969 2.0,179 2.4,258 Foreign bank 454,181 32,456 161,218 44,547 42,274 19,546 15,909 54,547 13,637 10,000 13,182 13,637 33,228 Other deposits 494,321 6,392 409,878 15,664 7,335 2,886 7,463 4,834 5,953 5,511 433 2,747 25,225 Total deposits 14,643,33-4 728,225 7,877,899 745,607 881,612 349,899 293,645 1,887,708 348,043 197,084 290,182 256,378 787,052 Deferred availability items 632,339 59,961 135,359 47,725 69,886 61,352 28,287 87,839 32,095 13,891 28,076 31,289 36,579 Other liabilities including accrued dividends 5,277 518 1,470 773 534 172 194 540 147 166 268 181 314 TOTAL LIABILITIES 20,346,189 1,204,346 9,355,891 146,299 1,410,903 634,254 485,808 3,081,955 573,936 353,677 503,744 367,412 1,227,964 C A P I T AL A C C O U N TS Capital paid in 136,165 9,332 51,039 11,917 14,000 5,276 4,632 13,659 4,137 2,957 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 38,809 1,869 10,900 2,379 3,912 1,574 1,793 7,119 1,599 2,084 1,315 1,922 2,343 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,699,722 1,228,826 9,478,265 1,179,186 1,444,145 649,597 498,671 3,126,986 584,919 362,871 514,192 378,698 1,253,366 Commitments to make industrial advances 8,828 322 828 1,139 1,177 691 515 18 175 56 167 - 3,740 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 davs 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 2,782 1,814 149 196 132 491 Industrial advances 9,088 1,623 588 893 85 780 1,157 1,901 2,061 U. S. Government securities, direct and 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-d. FEDERAL RESERVE IJOTE STATEMENT OK JUNE 5, 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 5,367,189 430,770 1,432,080 369,526 482,885 238,477 177,413 1,149,333 203,373 146,350 195,020 86,329 455,133 Held by Federal Reserve bank 301,950 15,128 90,917 17,332 24,014 15,646 13,731 43,465 9,722 4,314 9,802 6,765 51,114 In actual circulation 5,065,239 415,642 1,341,163 352,194 458,871 222,831 163,682 1,105,868 193,651 142,536 185,218 79,564 404,019 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 2,028 83 1,178 58 - - 130 - - - - 105 164 310 - - Total collateral 5,457,528 440,083 1,456,178 375,058 484,000 250,130 180,000 1,160,000 209,105 148,664 200,310 90,000 464,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis