H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT FDR THE PRESS Released for publication Board of Governors Friday morning, June lAf of the Federal Reserve System not earlier. June 13, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 12 member bank reserve balances increased $123,000,000. Additions to member bank reserves arose frori decreases of $43,000,000 in Treasury deposits with Federal Reserve banks and $5,000,000 in Treasury cash and an increase of $146,000,000 in gold stock,offset in part by a decrease of $7,000,000 in Reserve bank credit and an increase of $66,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves of member banks on June 12 were estimated to be approximately $6,610,000,000, an increase of $80,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 12, 1940, were as follows: Increase or decrease since June 12, June 5, June 14, 1940 1940 1939 (in millions of dollars) Bills discounted - 1 1 Bills bought 1 U. S. Gov't securities,direct and guaranteed 2,4-77 - 87 Industrial advances(not including 9 million commitments - June 12) 9 3 Other Reserve bank credit 34 - 7 + 9 Total Reserve bank credit 2,523 - 7 - 82 Gold stock 19,427 +146 +3,400 Treasury currency 3,OC9 + 1 + 141 Member bank reserve balances 13,510 +123 +3,409 Money in circulation 7,717 - 1 + 781 Treasury cash 2,200 - 5 - 370 Treasury deposits rath F. R. banks 265 - 43 - 663 Nonmember deposits and other F. R. accounts 1,267 + 66 + 300 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~28>a Released for publication Friday norning, June 14,1940; not earlier # STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since June 12, June 5, June 14, 1940 1940 1939 A S S E TS Gold certificates on hand and due iron U. S. Treasury 17,201,4.76 +147,984 +3,780,757 Rodenption fund - F. R. notes 11,190 + 700 + 1,723 Other cash 367,698 + 19,120 - 8,176 Total reserves 17,580,36-4 +167,804 +3,774,304 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 1,101 34-9 - 334466 Other bills discounted 1,316 16 - 374 Total bills discounted 2,417 365 - 720 Bills bought in open market - 561 Industrial advances 9,085 3 - 3,38 4 U. S. Government securities, direct and guaranteedi Bonds 1,346,995 —. + 435,905 Ilotes 1,130,125 — - 45,984 Bills — — - 4-76,816 Total U. S. Government securities direct and guaranteed 2,477,120 — — — 86,895 Total bills and securities 2,488,622 368 - 91,560 Due fron foreign banks 47 - — — 115 F. R. notes of other banks 20,149 + 1,278 - 1,535 Uncollected items 819,868 +146,521 + 57,258 Bank premises 41,532 + 21 - 920 Other assets 68,863 + 4,467 + 7,681 T O T AL A S S E TS 21,019,44-5 +319,723 +3,745,113 L I A B I L I T I ES F. R. notes in actual circulation 55,,008811,,331144 ++ 1166,,007755 + 664433,,661111 Deposits: Member bank - reserve account 13,510,111 +123,414 +3,409,182 U. S. Treasurer - General account 265,424 - 42,711 - 662,565 Fbreign bank 455,030 + 849 + 104,001 Other deposits 559,080 + 6-4,759 + 195,636 Total deposits 14,789,645 +146,311 +3,046,254 Deferred availability items 785,528 ++115533,,118899 + 4488,,005566 Other liabilities including accrued dividends 9,297 + 4,020 - 1,037 T O T AL L I A B I L I T I ES 20,665,784 +319,595 +3,736,884 C A P I T AL A C C O U N TS Capital paid in 136,159 6 + 1,190 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 38,943 + 134 + 4,896 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 21,019,445 +319,723 +3,745,113 Ratio of total reserves to deposit and F. R. note liabilities combined 88.5% + .156 + 3.256 Commitments to make industrial advances 8,676 152 2,712 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2S>-b STATEMENT OF CJOHDITIOH OF THE FEDERAL RESERVE BA11KS ON JUKE 12, 3.940 (In thousands of dollars) 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 fron U.S.Treasury 17,201,476 945,905 8,564,048 893,586 1,074,736 424,201 320,608 2,737,809 402,440 253,287 346,969 235,660 1,002,227 Redemption fund — F.R.notes 11,190 2,117 1,597 519 778 1,187 331 1,344 495 539 210 705 1,368 Other cash 367,698 31,002 109,051 26,421 24,867 23,489 19,729 48,269 16,777 5,891 19,914 13,554 28,734 Total reserves 17,580,364- 979,024 8,674,696 920,526 1,100,381 448,877 340,668 2,787,422 419,712 259,717 367,093 249,919 1,032,329 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 1,101 80 575 59 23 40 24 54 30 131 23 39 23 Other bills discounted 1,316 23 165 65 26 70 95 10 130 73 297 292 70 Total bills discounted 2,417 103 740 124 49 110 119 64 160 204 320 331 93 Industrial advances 99,,008855 11,,116600 2,010 22,,558800 345 911 259 329 60 187 102 474 668 U S. Government securities, # rr 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 Total U* S. Gov*t 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 2,488,622 181,849 746,157 200,587 253,720 127,294 104,928 271,406 113,634 74,888 114,616 96,130 203,413 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R.notes of other banks 20,149 538 1,724 937 1,465 2,391 2,154 2,756 2,029 793 1,759 663 2,940 Uncollected items 819,868 66,059 273,780 50,620 94,868 62,496 27,703 98,873 31,992 19,613 29,760 25,267 38,837 Bank premises 41,532 2,866 9,820 4,520 5,486 2,513 2,016 3,362 2,343 1,384 3,165 1,146 2,911 Other assets 68,863 4,444 18,828 8,986 7,213 3,763 2,685 6,729 2,832 1,999 2,895 2,783 5,706 T O T AL A S S E TS 21,019,445 1,234,783 9,725,023 1,186,181 1,463,137 647,336 480,156 3,170,554 572,543 358,394 519,289 375,909 1,286,140 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora F?.-283-c STAEEUE3T OF CONDITIO!! OF THE FEDERAL RESERVE BA15KS ON JUNE 12, 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, Xans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,081,314 416,473 1,346,005 354,801 463,890 223,652 164,099 1,106,616 193,529 141,735 185,4o4 79,086 406,02.4 Deposits: Member bank-reserve acct. 13,510,111 681,773 7,309,315 668,056 804,266 305,531 240,537 1,825,582 296,597 158,214 265,071 227,177 727,192 U.S.Treasurer-General acct. 265,4-24 7,084 56,935 13,257 22,185 18,133 13,3.72 32,949 19,258 16,351 16,53/- 17,321 32,245 Foreign bank 455,030 33,137 157,010 45,294 42,983 19,874 16,176 ^5,462 13,866 10,168 13,403 13,866 33,791 Other deposits 559,000 6,752 471,914 19,645 7,710 2,559 5,353 4,540 6,308 5,378 433 2,613 25,875 Total deposits 14,789,645 728,746 7,995,174 746,252 877,144 346,097 275,238 1,918,533 336,029 190,111 296,241 260,977 819,103 Deferred availability items 785,528 64,565 259,787 47,877 88,249 62,037 27,737 99,759 31,829 17,172 26,907 24,361 35,248 Other liabilities including accrued dividends 9,297 508 1,636 4,355 597 199 210 617 165 181 276 199 354 TOTAL LIABILITIES 20,665,784 1,210,292 9,602,602 1,153,285 1,429,880 631,985 467,284 3,125,525 561,552 349,199 508,828 364,623 1,260,729 C A P I T AL A C C O U N TS Capital paid in 136,159 9,332 51,039 11,917 14,006 5,277 4,634 13,656 4,137 2,956 4,379 4,121 10,705 Surplus (Section 7) 151,720 10,4-05 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,d74 7,109 4,393 1,007 3,2.46 713 1,429 538 1,001 1,142 1,266 2,121 Other capital accounts 38,943 1,880 10,947 2,388 3,921 1,581 1,800 7,120 1,607 2,086 1,327 1,925 2,361 TOTAL LIABILITIES AHD CAPITAL ACCOUNTS 21,019,44-5 1,234,783 9,725,023 1,186,181 1,463,137 647,336 480,156 3,170,554 572,543 358,394 519,289 375,909 1,286,140 Commitments to make industrial advances 8,676 322 828 1,138 1,181 686 515 18 175 56 167 - - 3,590 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 6l to 91 days to 6 nonths 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 2,417 1,451 87 256 128 495 Industrial advances 9,085 1,621 604 902 102 740 1,154 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 NOTE STATEMENT OH JUNE 12, 1940 s (In thousands of dollars) Total Boston New York Phila. Cleve* Rich. Atlanta Chicago St.Louis Minn. Kans.Cy®Dallas San Fran. Federal Reserve notest Issued to F # R. bank by F.R. agent 5,398,209 435,108 1,441,022 372,108 485,143 239,431 179,339 1,148,805 205,553 147,578 195,535 86,929 461,658 Held by Federal Reserve bank 316,895 18,635 95,017 17,307 21,253 15,779 15,240 42,189 12,024 5,843 10,131 7,843 55,634 In actual circulation 5,081,314 416,473 1,346,005 354,801 463,890 223,652 164,099 1,106,616 193,529 141,735 185,404 79,086 406,024 Collateral held by agent as se~ curity for notes issued to banks Gold certificates on hand and due from U. S. Treasury 5,483,500 440,000 1,465,000 375,000 487,000 250,000 185,000 1,160,000 209,000 148,500 200,000 90,000 474,000 Eligible paper 1,669 102 740 89 110 - - - - 105 203 320 - - Total collateral 5,485,169 440,102 1,465,740 375,089 487,000 250,110 185,000 1,160,000 209,105 148,703 200,320 90,000 474,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis