H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, July 19; of the Federal Reserve System not earlier. July 18, 19^0 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended July 1J member bank reserve balances increased $99*000,000. Additions to member bank reserves arose from increases of §90,000,000 in gold stock and $10,000,000 in Reserve bank credit and decreases of §19*000,000 in Treasury deposits with Federal Reserve banks and $12,000,000 in money in circulation, offset in part by increases of 525*000,000 in nonmember deposits and other Federal Reserve accounts and v8,000,000 in Treasury cash* Excess reserves of member banks on July 17 were estimated to be approximately §6,880,000,000, an increase of $50,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 17* 19^0 were as follows: Increase or decrease sinco July 17* July 10, July 19* 19^0 19U0 1939 (in millions of dollars) Bills discounted 2 — 3 Bills bought — — 1 Tit St Government securities 2,1+50 ~ - 65 Industrial advances (not including 9 million commitments - July 17) 9 h Other Reserve bank credit Uo +10 + 36 Total Reserve bank crodit 2,501 +10 36 Gold stock 20,256 + 90 + J+,065 Treasury currency 3*016 + 1 + 126 Member bank reserve balances 13*863 + 99 + 3*U51 Money in circulation 7*872 - 12 + 850 Treasury cash 2,199 + 8 - 331 Treasury deposits with F. R. banks 278 - 19 - i486 Nonmember deposits and other F« R accounts 1,560 +25 + 669 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FiR. 283-a Released for publication Friday morning, July 19, 19U0; not earlier. STATIMEHT OF CONDITION OF THE TVJELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 17, July 10, July 19, 19*40 191+0 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,028,14-78 + 8l+, 002 1+, 377,260 Redemption fund - R. notes 10,353 509 + .2,631 Other cash 367,639 + 7,1+06 + 11,563 Total reserves 18,1+06,1+70 + 90,899 l+, 391,1+5U Bills discounted: Secured by U. S. Govft obligations, direct and guaranteed 768 + lll+ 230 Other bills discounted 1,1+39 + 89 - 2,160 Total bills discounted 2,207 + 203 - 2,390 Bills bought in open market - 556 Industrial advances 9,118 35 3,1+39 U. S. Government securities, direct and guaranteed: Bonds 1,323,196 + 1+12,106 Notes 1,126,732 - 1+9,377 Bills tm mm - 1427,938 Total U# S« Government securities, "direct and guaranteedH 2,1+1+9,928 - 65,209 Total bills and securities + 168 2,1461,253 - 71,591+ Due from foreign banks 1+7 mm 120 F" R. notes of other banks 23,608 + 627 - 31+3 TJ^t.collected iterns 790,313 +130,dho + 82,81+3 L>.\nL premises ia,l4i+o + 1 - 905 Other assets 56,111+ + 733 + •7,1+75 T O T AL A S S E TS 21,779,21+5 +223,268 1+06,810 L I A B I L I T I ES F. R. notes in actual circulation 5,230,359 - 2,104 + 721,397 Deposits: lumber bank - reserve account 13,863,019 + 98,676 +3,1+50,972 u. S. Treasurer - General account 278,395 - 19,033 mm 1+85,821 Foreign bank 733,601 - 31#U81 + 1+51+, 563 Other deposits 561+, 920 + 56,172 + 209,901+ TotaJL deposits 15,U39,935 +ioU,33U 3,629,618 Deferred availability items 750,395 +120,923 + 146,951+ Ouhor liabilities including accrued dividends 1,690 - 191_ - 1+82 T O T AL L I A B I L I T I ES 21,1)22,379 +222,962 + ! i + , 397,1+87 C A P I TA :L A C C 0 U N T S Capital paid in 137,14+9 + 211 + 2,167 Surplus (Section 7) 151,720 -- + 2,568 Surplus (Section 13b) 26,839 — - 1421+ Other capital accounts 1+0,858 + 95 + 7,012 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,779,21+5 +223,268 +Ji+ ,1+08,810 Ratio of total reserves to deposit and F. R. note liabilities combined 89. — + 3*1% Commitments to make industrial advances 8,611 71 - 2,601 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT DF CONDITION OF TT"E FEDERAL RESERVE BANKS 01; JULY 17, 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 Fran. Gold certificates on hand and due from U.S.Treasury 18,028,478 1,060,762 8,934, 929,143 1,162,58c 1449,288 335,673 2,825,110 435,257 260,227 378,07 8 234,3C3 1,023,615 Redemption fund - F.R.notes 10,353 1,988 1,035 1,302 6c6 93s 247 1,109 451 518 175 678 1,309 -Other cc.sh 367,639 32,769 104,958 31,003 25,991 21,736 18,578 47,526 17,361 6,377 18,077 l4,6ci 28,662 Total reserves 18,406,470 1,C95,519 9,O4O,435 96i,li48 1,189,177 471,959 354,498 2,873,745 453,069 267,122 396,330 249,582 1,053,586 Bills discounted: direct and guaranteed 768 5500 55 111 173 53 15 71 ICC 60 31 49 — Other bills discounted l>k59 mmmmmmmm 192 114 4L 105 169 19 100 50 288 284 77 Total bills discounted 2, 2C7 50 247 225 214 158 184 90 200 110 319 333 77 Industrial advances 9 , H8 1,145 1,996 2,689 349 871 23c 297 5 217 194 I465 660 U» S« Government securities, direct and guaranteed: Bonds 1,323,196 96,517 405,667 105,011 135,697 66,228 48,524 140,398 61,227 38,930 ""6622,,550011 51,559 110,937 Notes 1,126,732 82,186 345,434 89,1421 115,549 56,395 4I,32C 119,550 52,136 33,150 53,221 43,905 94,1465 Total U.S.Govft securities, direct and guaranteed 2,141+9,928 178,703 751,101 194,432 251,2146 122,623 89,8144 259,948 113,363 72,080 115,722 95,1464 2C5,4C2 Total bills and securities 2,1I61,253 179,898 753,34U 197,346 251,809 123,652 90,258 260,335 113,568 72,407 116,235 96,262 206,139 Due from foreign banks Ut 3 18 5 4 2 2 6 1 * 1 1 4 R. notes of other banks 23,608 1,108 2,o43 1,130 1,1461 3,069 1,976 3,434 2,281 795 1,848 539 3,924 Uncollected items 790,313 77,397 213,249 55,893 92,686 62,750 26,667 107,357 33,153 19,174 34,352 27,383 4c,252 Bank premises LA, 1^0 2,861 9,802 4,509 5,476 2,5C7 2, CI2 3,356 2,3144 1,381 3,149 i,l4o 2,903 Other assets 56,llU 3,791 16,320 4,406 6,330 3,253 2,016 5,678 2,438 1,687 2,5146 2,509 5,060 TOTAL ASSETS 21,779,245 1,360,577 10,035,211 1,224,737 1,51(6,943 667,192 477,l£9 3,253,911 606,854 362,566 554,1461 377,496 1,311,868 •Less than 0500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.k. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS ON JULY 17, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston Now York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas Sr.n Fran. F.R. notes in actual circulation 5,230,359 1*27,832 1,396,725 361,528 1+74,540 229,762 167,496 1,137,523 197,1+62 143,318 191,247 81,779 1*21,l47 Deposits: Member bank-resorvo acct.13,863,019 763,393 7,471,718 681,988 858,121+ 318,808 226,636 1,833,018 323,030 154,758 282,620 218,219 730,707 U.S.Treasurer-General acct. 278,395 8,21*2 113,737 11,658 9,099 8,711 13,479 35,852 13,945 i4,4o6 14,1*25 15,897 18,91*4 Foreign bank 733,601 52,012 264,392 71,343 67,703 31,303 25,480 87,359 21,84o 16,016 21,112 21,840 53,201 Other deposits 564,920 9,220 471,1*21 10,732 15,091 2,176 5,107 7,973 5,879 7,685 1,865 2,534 25,237 Total deposits 15,439,935 832,867 8,321,268 775,721 950,017 360,998 270,702 1,964,202 364,694 192,865 320,022 258,490 828,089 Deferred availability items 750,395 74,977 193,823 54,265 88,672 60,932 26,183 106,534 33,565 17,043 32,518 25,779 36,104 Other liabilities including accrued dividends 1,690 280 268 188 226 24 92 209 1*4 91 133 79 56 TOTAL LIABILITIES 2l,ii22,379 1,335,956 9,912,084 1,191,702 1,513,455 651,716 1+64,473 3,208,1+68 595,765 353,317 543,920 366,127 1,285, C A P I T AL A C C O U N TS Capital paid in 137, 1J49 9,335 51,076 11,897 i4,o4o 5,317 4,648 13,873 4,143 2,958 4,407 4,135 11,620 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 1,1429 538 1,001 1,142 1,266 2,121 Other capital accounts 40,858 2,007 11,616 2,547 4,118 1,666 1,870 7,317 1,699 2,138 1,379 1,994 2,507 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,779,245 1,360,577 10,035,211 1,224,737 1,546,943 667,192 477,1*29 3*253,911 606,854 362,566 554,461 377,496 1,311,868 Commitments to make industrial advances 8,611 265 758 1,137 1,138 676 511 17 350 56 159 ~ 3,544 MATURITY DISTRIBUTION OF BILLS AFP SECURITIES Vvithin 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 2,207 1,198 115 224 296 368 6 Industrial advances 9,118 2,151 95 184 287 960 1,103 l,4ll 2,927 U. S. Government securities, dircct and guaranteed 2,1*49,928 105,974 177,220 186,967 732,267 1,247,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATEMENT OH JULY 17, 19^0 (In thousands of dollars) Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R bank by F.R.agent 5,565,621 14*8,127 1,1+97,^96 383,603 1+99,668 2146,325 182,007 1,185,761 208,31+9 lU8,725 199,070 88,865 1+77#625 # Held by Federal Reserve bank 335,262 20,295 100,771 22,075 25,128 16,563 li+,5U U8,238 10,887 5jU07 7,823 7,086 56,1+73 In actual circulation 5,230,359 1*27,832 1,396,725 361,528 h7h>5ho 229,762 167,496 1,137,523 197,1462 11+3,318 191,247 81,779 ii2l,ll+7 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,669,500 1|60,000 1,525,000 390,000 500,000 260,000 185,000 1,200,000 219,000 150,500 200,000 91,000 1+89,000 Eligible paper 1,265 50 2l+7 195 — 158 ~ — 200 110 305 Total collateral Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis