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 28; of the Federal Reserve System not earlier• June 27, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended June 26 member bank reserve balances increased $11,000,000* Additions to member bonk reserves arose from an increase of $102,000,000 in gold stock and a decrease of $18,000,000 in Treasury cash, offset in part by a decrease of $28,000,000 in Reserve bank credit and increases of $39,000,000 in money in circulation, $3,000,000 in Treasury deposits with Federal Reserve banks and $41,000,000 in ncmmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 26 were estimated to be approximately $6,800,000,000, an increase of $30,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 26, 1940, were as followsI Increase or decrease since June 26, June 19, June 28, 1940 1940 1939 (In millions of dollars) Bills discounted 2 • - 3 Bills bought • - 1 U. S. Gov't securities,direct and guaranteed 2,473 • — - 78 Industrial advances (not including 9 million commitments - June 26) 9 • - 3 Other Reserve bank credit 27 — 27 + 29 Total Reserve bank credit 2,511 28 - 56 Gold stock 19,871 + 102 +3,778 Treasury currency 3,012 + 1 + 133 Member bank reserve balances 13,723 + 11 +3,607 Money in circulation 7,780 + 39 + 818 Treasury cash 2,186 - 18 - 373 Treasury deposits *&th F. R. bonks 301 + 3 - 661 IJonmember deposits and other F. R. accounts 1,405 + 4l + 46 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~283~a Released for publication Friday morning, June 28,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since June 26, June 19, June 28, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U # S. Treasury- 17,653,476 +117,001 +4,147,757 Redemption fund - F. R # notes 10,862 329 + 2,549 Other cash 378.780 + 7,757 + 11,423 Total reserves 18,043,118 +124,429 +4,161,729 Bills discounted* Secured by U. S. Gov!t obligations, direct and guaranteed 704 + 13 - 871 Other bills discounted 1,557 + 56 2,238 Total bills discounted 2,261 + 69 - 3,109 Bills bought in open market _ — — 556 Industrial advances 88,,997755 3366 - 33,,446655 U S Government securities, # # direct and guaranteed* Bonds 1,343,1*3 + 432,093 Notes 1,130,125 - - - 45,984 Bills — - - - 463,438 Total U. S Government securities* # direct and guaranteed 2,473,308 — 77,329 Total bills and securities 2,484,544 + 33 - 84,459 Due from foreign banks 47 — _ 120 F. R. notes of other banks 18,489 - 2,153 - 397 Uncollected items 656,231 -148,995 + 72,409 Bank premises 41,490 46 - 915 Other assets 54,057 + 1,038 + 7,339 T O T AL A S S E TS 21,297,976 - 25,694 +4,155,586 L I A B I L I T I ES F. R. notes in actual circulation 55,,114444,,445500 ++ 4400,,553344 + 669955,,114444 Deposits: Member bank - reserve account 13,722,819 + 10,586 +3,607,075 U« S. Treasurer - General account 300,610 + 2,398 - 661,484 Foreign bank 658,679 - 1,149 + 307,584 Other deposits 480,897 + 42,410 + 154.764 Total deposits 15,163,005 + 54,245 +3,407,939 Deferred availability items 662299,,556699 --112211,,229933 + 4433,,777711 Other liabilities including accrued dividends 5,786 + 485 - 880 T O T AL L I A B I L I T I ES 20,942,810 - 26,029 +4,145,974 C A P I T AL A C C O U N TS Capital paid in 137,103 + 6 + 2,066 Surplus (Section 7) 151,720 — — + 2,568 Surplus (Section 13b) 26,839 — 425 Other capital accounts 39,504 + 329 + 5,403 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,297,976 - 25,694 +4,155,586 Ratio of total reserves to deposit and F. R.note liabilities combined 88.8% + .1% + 3.155 Commitments to make industrial advances 8,762 + 175 - 2,413 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAIIKS 01! JU1IE 26, 1940 (In thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cv, Dallas San Fran. Qold certificates on hand and due from U.S. Treasury- 17,653,476 990,878 8,845,071 924,841 1,111,726 443,334 320,941 2,748,468 411,249 259,486 356,085 233,062 1,008,335 Redemption fund - F.R.notes 10,862 2,055 1,311 414 698 1,605 291 1,250 477 531 194 695 1,341 Other cash 378,780 32,535 106,127 30,804 27,220 24,036 20,880 49,630 18,412 4,972 20,439 13,520 30,205 Total reserves 18,043,118 1,025,468 8,952,509 956,059 1,139,644 468,975 342,112 2,799,348 430,138 264,989 376,718 247,,277 1,039,881 Bills discountedi Secured by U. S. Gov't obligations, direct and guaranteed 704 152 120 82 73 50 15 71 - — 80 22 39 Other bills discounted 1,557 30 242 40 31 120 149 10 115 121 334 293 72 Total bills discounted 2,261 182 362 122 104 170 164 81 115 201 356 332 72 Industrial advances 8,975 11,,114455 22,,000044 22,,556633 333377 893 245 327 225 95 473 668 U. S. Government securities direct and guaranteedt Bonds 1,343,183 97,929 402,946 107,282 137,361 68,495 56,708 146,973 61,530 4400,,441122 6611,,994499 51,705 109,893 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 2,434,544 181,651 744,342 200,234 253,375 127,188 104,829 271,040 113,414 74,840 114,523 96,015 203,093 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 18,489 562 1,624 908 1,332 2,362 2,019 2,051 1,269 1,216 1,443 435 3,268 Uncollected items 656,231 58,94-1 171,610 48,930 77,589 52,587 22,710 91,686 26,532 16,828 30,764 22,067 35,987 Bank premises 41,490 2,866 9,820 4,509 5,473 2,507 2,012 3,362 2,344 1,384 3,165 1,146 2,902 Other assets 54,057 3,627 15,468 4,423 6,085 3,210 2,179 5,550 2,300 1,655 2,369 2,426 4,765 T O T AL A S S E TS 21,297,976 1,273,118 9,895,391 1,215,068 1,483,502 656,831 475,863 3,173,04-3 575,998 360,912 528,983 369,367 1,289,900 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283~c STATMENT OF CONDITIO!! OF THE FEDERAL RESERVE BANKS ON JUNE 26, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila, Cleve, Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F. R. notes in actual circulation 5 , 144- ,450 423,039 1,369,821 357,690 467,804 226,226 164,716 1,121,633 194,294 142,188 186,598 79,795 410,646 Deposits* Member bank-reserve acct,13,722,319 701,362 7,524,016 674,262 813,533 314,394 228,925 1,800,942 302,540 155,834 265,745 217,238 724,028 U.S.Treasurer-General acct, 300,610 10,139 93,433 19,115 19,001 20,668 17,435 28,552 15,476 18,599 17,191 16,937 24,064 Foreign bank 658,679 47,699 229,788 65,183 61,858 28,601 23,280 79,817 19,954 14,633 19,209 19,954 48,623 Other deposits 480,897 8,100 395,267 17,024 10,603 2,241 5,834 3,731 5,615 6,288 518 2,549 23,127 Total deposits 15,163,005 767,300 8,242,504 775,584 904,995 365,904 275,474 1,913,042 343,585 195,354 302,743 256,678 819,842 Deferred availability items 629,569 57,706 158,784- 48,148 76,771 49,124 22,555 92,627 26,938 13,971 28,884 21,377 32,684 Other liabilities including accrued dividends 5,786 521 1,687 713 603 203 214 638 159 188 278 210 372 TOTAL LIABILITIES 20,942,810 1,248,566 9,772,796 1,182,135 1,450,173 641,457 462,959 3,127,940 564,976 351,701 518,503 358,060 1,263,544 C A P I T AL A C C O U N TS Capital paid in 137,103 9,333 51,033 11,903 14,020 5,280 4,639 13,682 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 10,224 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 39,504 1,940 11,127 2,439 3,979 1,601 1,827 7,168 1,636 2,102 1,343 1,946 2,396 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,297,976 1,273,118 9,895,391 1,215,068 1,483,502 656,831 475,863 3,173,043 575,998 360,912 528,983 369,367 1,289,900 Commitments to make industrial advances 8,762 267 820 1,137 1,170 681 511 17 361 56 159 - - 3,583 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 2,261 1,171 178 182 214 510 6 Industrial advances 8,975 2,057 98 352 218 641 1,070 1,592 2,947 U.Js. Government securities, direct and guaranteed 2,473,308 105,974 177,219 188,020 734,608 1,267,487 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d FEDERAL RESERVE HOTE STATEMENT Oil JUKE 26, 1940 (In thousands of dollars) Total Boston Mevr York Phila. Cleve. Rich. Atlanta Chicago St • Louis Minn* Kans» Cy» Dallas San FVan® Federal Reserve notes* Issued to F.R. bank by F.R.agent 5,452,808 443,150 1,458,934 374,549 489,215 243,108 179,357 1,163,193 203,896 147,879 196,319 87,461 465,747 Held by Federal Reserve bank 308,358 20,111 89,113 16,859 21,411 16,882 l4,64l 41,560 9,602 5,691 9,721 7,666 55,101 Ift qctual circulation 5,144,450 423,039 1,369,821 357,690 467,804 226,226 164,716 1,121,633 194,294 142,188 186,598 79,795 410,646 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U S. Treasury 5,557,500 460,000 1,485,000 385,000 490,000 250,000 185,000 1,170,000 209,000 148,500 200,000 91,000 484,000 # Eligible paper 1,434 182 362 114 - - 120 - - - - 105 201 350 - - Total collateral 5,558,934 460,182 1,485,362 385,114 490,000 250,120 185,000 1,170,000 209,105 148,701 200,350 91,000 484,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis