H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Forn FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, June 21s of the Federal Reserve System not earlier, June 20, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 15 member bank reserve balances increased $202,000,000, Additions to member bank reserves arose from increases of $>42,000,000 in gold stock, $16,000,000 in Reserve bank credit, and $2,000,000 in Treasury currency, offset in part by increases of $24,000,000 in money in circulation, $33,000,000 in Treasury deposits with Federal Reserve banks, $4,000,000 in Treasury cash, and $97,000,000 in nonmember deposits and other Federal Reserve accounts . Excess reserves of member banks on June 19 were estimated to be approximately $6,770,000,000, an increase of $160,000,000 for the week. Holdings of United States Government bonds, direct and guaranteed, decreased $4,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 19, 1940, were as follows: Increase or decrease since June 19, June 12, June 21, 1940 1940 1939 (In millions of dollars) Bills discounted 2 - 3 Bills bought - 1 U. S. Gov*t securities,direct and guaranteed 2,473 -4 91 Industrial advances (not including 9 million commitments - June 19 9 —3 Other Reserve bank credit 54 +20 + $1 Total Reserve bank credit 2,539 + 16 45 Gold stock 19,769 +342 + 3,709 Treasury currency 3,011 + 2 + 13S Member bank reserve balances 13,712 +202 +3,613 Money in circulation 7,741 + 24 + 807 Treasury cash 2,204 + 4 - 362 Treasury deposits with F. R. banks 298 + 33 - 643 Nonnenber deposits and other F. R. accounts 1,364 + 97 + 387 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form SBzz28y-a. Released for publication Friday morning, June 21,19-40; not earlier* STATEMENT OF CONDITIO!? OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since June 19, June 12, June 21 5 1940 1940 1939 A S S E TS Gold certificates on hand and due from U, S. Treasury 17,536,475 +334,999 +45070 757 ? Redemption fund - F. R. notes 11,191 + 1 + 2,470 Other cash 371,023 t 3,325 + 4,057 Total reserves 17,918,689 +338,325 +4,077,284 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 691 4io - 390 Other bills discounted 1,501 + 185 - 2,211 Total bills discounted 2,192 225 — 2,601 Bills bought in open market - - - 556 Industrial advances 99,,001111 74 - 33,,336666 U. S. Government securities, direct and guaranteed: Bonds 1,343,183 - 3,812 + 432,093 Kotes 1,130,125 - 45,984 Bills — - - - 476,816 Total U. S. Government securities, direct and guaranteed 2,473,308 - 3,812 •M* 90,707 Total bills and securities 2,484,511 - 4,111 - 97,230 Due from foreign banks 47 - — — 120 F. R. notes of other banks 20,642 + 493 + 65 Uncollected items 805,226 - 14,642 + 164,038 Bank premises 41,536 + 4 891 Other assets 53,019 - 15.844 + 7,296 T O T AL A S S E TS 21,323,670 +304,225 +4,150,442 L I A B I L I T I ES F. R. notes in actual circulation 55,,110033,,991166 ++ 2222,,660022 + 667744,,661100 Deposits: I.iember bank - reserve account 13,712,2.33 +202,122 +3 ,613,070 U. S. Treasurer - General account 298,2.12 + 32,788 — 642,792 Foreign bank 659,828 +204,798 + 305,530 Other deposits 438,487 -120,592 + 78,690 Total deposits 15,108,760 +319,115 +3,354,498 Deferred availability items 750,862 -- 3344,,666666 + 111122,,222255 Other liabilities including accrued dividends - 3,996 - 320 T O T AL L I A B I L I T I ES 20,968,839 +303,055 +4,141,013 C A P I T AL 1 C C 0 U]l T S Capital paid in 137,097 + 928* + 2,086 Surplus (Section 7) 151,720 - — + 2,568 Surplus (Section 13b) 26,839 — 425 Otlier capital accounts 39,175 + 242* + 5,200 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,323,670 +304 225 +4,150,442 9 Ratio of total reserves to deposit and F. R. note liabilities combined 88.7% + .2% + 3,2% Commitments to make industrial advances 8,587 89 - 2,751 •*June 12 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATELTEITI OF CONDITION OF THE FEDERAL RESERVE BANKS ON JU1IE 19, 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 Eran. Gold certificates on hand and due from U.S.Treasury 17,536,-475 996,048 8,784,902 919,268 1,100,209 423,023 326,670 2,717,336 407,233 249,454 359,299 235,138 1,017,895 Redemption fund - F.R. noi: es 11,191 2,117 1,597 519 778 1,187 332 1,344 495 539 210 705 1,368 Other cash 371,023 31,^37 106,765 29,416 27,354 21,075 13,480 51,884 17,440 5,200 18,855 13,706 29,411 Total reserves 17,918,689 1,029,602 8,893,264 949,203 1,128,341 445,285 345,482 2,770,564 425,168 255,193 373,364 249,549 1,048,674 Bills discountedi Secured by U. S. Gov't obligations, direct and guaranteed 691 95 190 51 73 40 15 54 26 80 23 44 — _ Other bills discounted 1,501 34 196 47 26 70 137 10 160 125 359 267 70 Total bills discounted 2,192 129 386 98 99 110 152 64 186 20 5 382 311 70 Industrial advances 9,011 11,,115522 2,010 2,570 334422 896 251 332266 6600 169 95 472 668 u. S. Governrient securities. direct and guaranteed: Bonds 1,3^3,183 97,929 402,946 107,282 137,361 68,495 56,708 146,973 61,530 40,412 61,949 51,705 109,393 Notes 1,130,125 82,395 339,030 90,267 115,573 57,630 47,712 123,659 51,769 34,002 52,123 43,505 92,460 Total U. S. Gov't securities, direct and .guaranteed 2,473,308 180,324 741,976 197,549 252,934 126,125 104,420 270,632 113,299 74,414 114,072 95,210 202,353 Total bills and securities 2,484,511 181,605 744,372 200,217 253,375 127,131 104,823 271,022 113,545 74,788 114,549 95,993 203,091 Due f^rom foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R # notes of other banks 20,642 598 2,000 1,063 1,923 1,543 1,730 3,171 2,422 854 1,768 435 3,135 Uncollected items 805,226 87,761 199,707 63,260 93,224 71,972 27,872 106,365 32,258 19,113 33,717 26,828 43,149 Bank premises 41,536 2,866 9,830 4,520 5,486 2,513 2,016 3,362 2,347 1,384 3,165 1,146 2,911 Other assets 53,019 3,570 15,105 4,182 5,996 3,141 2,173 5,468 2,289 1,643 2,339 2,390 4,723 T O T AL A S S E TS 21,323,670 1,306,005 9,864,286 1,222,450 1,488,349 651,587 484,098 3,159,958 578,030 352,975 533,903 376,342 1,305,687 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

r'orm FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANES ON JUNE 19, 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 Llinn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,103,916 418,783 1,357,273 354,386 461,131 224,184 164,723 1,113,670 193,741 142,093 187,201 79,845 406,886 Deposits! Member bank-reserve acct. 13,712,233 707,065 7,536,248 667,965 812,495 297,555 238,572 1,778,965 295,533 152,750 265,563 219,345 740,177 U.S.Treasurer-General acct. 298,212 11,341 86,2.25 27,238 21,742 15,026 11,341 35,241 19,729 12,587 18,778 17,639 21,325 Foreign bank 659,828 47,311 234,410 64,656 61,358 28,369 23,092 79,171 19,792 14,514 19,132 19,792 48,231 Other deposits 4-38,487 6,957 354,797 17,972 8,226 2,291 5,393 3,901 _5,844 5,263 344_ 2,552 24,947 Total deposits 15,108,760 772,674 8,211,680 777,831 903,821 343,241 278,398 1,897,278 340,898 185,114 303,817 259,328 834,680 Deferred availability items 750,862 89,499 171,220 56,815 89,533 68,614 27,888 103,378 32,238 16,399 32,171 25,677 37,430 Other liabilities including accrued dividends 5,301 536 1,616 499 583 181 203 557 150 168 255 197 356 TOTAL LIABILITIES 20,968,839 1,281,492 9,741,789 1,189,531 1,455,068 636,220 471,212 3,114,883 567,027 343,774 523,444 365,047 1,279,352 C A P I T AL A C C O U N TS Capital paid in 137,097 9,332 51,039 11,917 14,006 5,278 4,636 13,676 4,139 2,956 4,382 4,121 11,615 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 10,22.4 Surplus (Section 13b) 26,839 2,874 7,109 4,393 1,007 3,246 713 1,429 538 1,001 1,U2 1,266 2,121 Other capital accounts 39,175 1,902 11,023 2,411 3,945 1,596 1,312 7,146 1,617 2,092 1,322 1,934 2,375 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,323,670 1,306,005 9,864,286 1,222,450 1,488,349 651,587 484,098 3,159,958 578,030 352,975 533,903 376,342 1,305,687 Commitments to make industrial advances 8,587 267 822 1,138 1,172 686 515 18 170 57 167 - - 3,575 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 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 2,192 1,117 112 281 235 441 6 Industrial advances 9,011 2,137 79 881 207 651 1,040 1,930 2,086 U. Government securities, direct and guaranteed 2,473,308 105,974 179,219 188,020 732,608 1,267,487 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE NOTE STATELIEST? OK JU1TE 19, 1940 (in thousands of dollars) Total Boston How York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ivans.Cy. Dallas San Fran. Federal Reserve notes! Issued to F.R. bank by F.R.agent 5,422,695 439,030 1,449,828 370,619 487,067 239,824 179,257 1,153,570 204,374 147,538 197,810 87,743 466,035 Held by Federal Reserve bank 318,779 20,247 92,555 16,233 25,936 15,640 14,534 39,900 10,633 5,445 10,609 7,898 59,149 In actual circulation 5,103,916 418,783 1,357,273 354,386 461,131 224,184 164,723 1,113,670 193,741 142,093 187,201 79,845 406,886 Collateral held by agent as sociality for notes issued to bank» Gold certificates on hand and due from U. S. Treasury 5,536,500 460,000 1,475,000 385,000 490,000 250,000 185,000 1,160,000 209,000 148,500 200,000 90,000 484,000 Eligible paper 1,429 129 387 91 110 - - - - 131 205 376 - - Total collateral 5,537,929 460,129 1,475,387 385,091 490,000 250,110 185,000 1,160,000 209,131 148,705 200,376 90,000 484,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis