H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 283 STATEMENT FDR THE PRESS Released for publication Board "f Governors Friday morning, July 26; of the Federal Reserve System not earlier. July 25, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended July 24 member bank reserve balances decreased $298,000,000. Reductions in member bank reserves arose from increases of $365,000,000 in Treasury deposits with Federal Reserve banks, $28,000,000 in nonmember deposits and other Federal Reserve accounts and $30,000,000 in Treasury cash and a decrease of $10,000,000 in Reserve bank credit, offset in part by increases of $111,000,000 in gold stock and $4,000,000 in Treasury currency and a decrease of $18,000,000 in money in circulation. Excess reserves of member banks on July 24 were estimated to be approximately $6,570,000,000, a decrease of $310,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended Jul;.; 24, 1940, were as follows: Increase or decrease since July 24, July 17, July 26, 1940 1940 1939 (In millions of dollars) Bills discounted 3 4-1 - 2 Bills bought - - - - 1 U.S.Gov't securities,direct and guaranteed 2,450 38 Industrial advances (not including 9 million commitments - July 24) 9 4 Other Reserve bank credit 29 - 11 + 23 Total Reserve bank credit 2,491 - 10 21 Gold stock 20,367 +111 +4,l40 Treasury currency 3,020 +4 + 127 Member bank reserve balances 13,565 -298 +3,129 Honey in circulation 7,854 - 18 + 852 Treasury cash 2,229 + 30 - 277 Treasury deposits with F. R. banks 643 +365 - 99 Noma ember deposits and other F. R. accounts 1,588 + 28 + 64l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form ??K?83~a Released for publication Friday morning, July 2,6,1940? not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 2.4, July 17, July 26, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,113,976 + 85,498 +4 404,754 Redemption fund - F. R. notes 12,853 + 2,500 + 3,752 Other cash 380,284 + 12,645 + 9,305 Total reserves 18,507,113 +100,643 +4,417,811 Bills discounted: Secured by U. S. Govft obligations, direct aid guaranteed 998 + 230 - 63 Other bills discounted 1,729 + 290 — 1,906 Total bills discounted 2,727 + 520 - 1,969 Bills bought in open market - - - 558 Industrial advances 99,,110033 15 - 3,476 U. S. Government securities, direct and guaranteed: Bonds 1,323,196 + 412,106 liotes 1,126,732 49,377 - Bills — — — — — 401,020 Total U. S Government securities, # direct and guaranteed 2,449,928 — — — 38,291 Total bills and securities 2/61,7 58 + 505 44,294 - Due fron foreign banks 47 — M* — 118 F. R # notes of other banks 21,193 - 2,415 - 1,673 Uncollected items 654,894 -135,419 + 27,286 Bank premises 41,432 8 — 889 Other assets 57,153 + 1,039 + 7,781 T O T AL A S S E TS 51,743,590 - 35,655 +4,405,904 L I A B I L I T I ES F # R w notes in actual circulation 55,,222233,,228822 -- 77,,007777 + 772244,,552244 Deposits: Member bank reserve account 13,564,561 -298,458 +3,128,275 U. S* Treasurer - General account 642,925 +364,530 - 99,475 Foreign bank 742,077 + 8,476 + 454,420 Other deposits 585,358 + 20,438 + 182,904 Total deposits 15,534,921 + 94,986 +3,666,124 Deferred availability items 662266,,001100 --112244,,338855 + 44,,221166 Other liabilities including accrued dividends 2,205 + 51.5 — 215 T O T AL L I A B I L I T I ES 21,386,418 - 35,961 +4,394,649 C A P I T AL A C C O U N TS Capital paid in 137,460 + 11 + 2,030 Surplus (Section 7) 151,720 - — + 2,568 Surplus (Section 13b) 26,839 Mi - 425 Other capital accounts 41,153 + 295 + 7,082 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,743,590 - 35,655 +4,405,904 Ratio of total reserves to deposit and F # R # note liabilities combined 89.2% + .2% + 33..115555 Comnituents to make industrial advances 8,587 24 2,S89 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESi ERVE BANKS ON JULY 24, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chic'.-go St. Louis Minn. Xc•l iS.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 18,113,976 1,048,558 9,017,114 928,662 1,176,623 454,195 331,558 2,832,382 436,835 258,540 377,465 242,151 1,009,893 Redemption fund - F.R.notes 12,853 1,988 1,035 1,302 606 1,935 1,247 1,109 451 518 675 678 1,309 Other cash 380,284 33,406 106,688 32,131 25,551 24,596 20,433 47,199 17.360 7,445 19,527 13,918 32,030 Total reserves 18,507,113 1,083,952 9,124,837 962,095 1,202,780 480,726 353,238 2,800,690 454,646 266,503 397,667 256,747 1,043,232 Bills discounted: Secured by U.S.Gov't oblin ations, direct and guaranteed 998 40 283 126 78 113 15 71 30 155 31 56 - - Other bills discounted 1,729 21 201 91 40 90 201 18 85 50 313 547 72 Total bills discounted 2,727 61 484 217 118 203 216 89 115 205 344 603 72 Industrial advances 9,103 11,,114422 1,991 22,,667733 367 870 222 302 5 213 193 465 660 U. S. GovGrnEient securitie 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 62,501 51,559 110,937 Notes 1,126,732 82,186 345,434 89,421 115,549 56,395 41,320 119,550 52,136 33,150 53,221 43,905 94,465 Total U.S Gov't securities, a direct md guaranteed 2,449,928 178,703 751,101 194,432 251,246 122,623 89,844 259,948 113,363 72,080 115,722 95,464 205,402 Total bills and securities 2,461,758 179,906 753,576 197,322 251,731123,696 90,282 260,339 113,483 72,498 116,259 96,532 206,134 Due from foreign banks 47 3 18 5 4 22 61 * 1 1 4 F. R. notes of other banks 21,193 624 2,208 1,085 1,510 2,487 2,148 2,554 1,453 1,390 1,318 421 3,995 Uncollected items 654,894 62,472 157,620 45,24-3 78,282 52,757 32,351 90,813 30,227 18,158 26,974 23,005 36,992 Bank premises 41,432 2,861 9,802 4,508 5,461 2,507 2,011 3,356 2,353 1,381 3,149 1,140 2,903 Other assets 57,153 3,931 16,733 4,439 6,412 3,298 2,051 5,774 2,473 1,713 2,584 2,623 5,122 T O T AL A S S E TS 21,743,590 1,333,749 10,064,794 1,214,697 1,546,180 665,473 482,083 3,243,532 604,636 361,643 547,952 380,469 1,298,382 *Less than $500, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 24, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston Nev/ York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dai"as San "V.-'", F. R. notes in actual circulation 5,223,282 442288,,339999 11,,339922,,882233 336611,,003377 479,337 227,660 166,239 1,136,378 197,011 142,807 190,799 81,712 418,580 Depositsi Lieaber bank-reserve acct. 13,564,56! 723,961 7,391,410 659,834 836,532 308,797 211,927 1,769,397 312,169 148,129 272,078 214,759 715,568 U.S.Treasurer-General acct. 642,925 35,045 240,736 32,083 43,795 28,167 28,191 105,235 26,395 24,155 24,528 27,412 27,183 Foreign bank 742,077 53,235 262,599 72,893 69,3.74 31,984 26,033 89,257 2.2,314 16,364 21,570 22,314 54,3 4) Other deposits 585,358 6,797 511,714 10,890 7,722 1,616 4,606 5,155 6,039 5,590 1,417 2,000 21,812 Total deposits 15,534,921 819,038 8,406,459 775,700 957,223 370,564 270,757 1,969,044 366,917 194,238 319,593 266,485 818,903 Deferred availability items 662266,,001100 6611,,229966 114411,,885555 4444,,774400 75,860 51,711 32,010 91,842, 29,537 15,221 26,846 20,790 34,302 Other liabilities including accrued dividends 2,205 363 435 190 242 49 285 52 121 151 103 102 TOTAL LIABILITIES 21,386,418 1,309,096 9,941,572 1,181,667 1,512,662 649,984 469,118 3,198,049 593,517 352,387 537,389 369,090 1,271,887 C A P I T AL A C C O U N TS Capital paid in 137,460 9,335 51,080 11,878 14,041 5,319 4,649 13,892 4,143 2,959 4/08 4,136 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 1,429 538 1,001 1,142 1,266 2,121 Other capital accounts 41,153 2,039 11,707 2,561 4,147 1,677 1,878 7,338 1,729 2,144 1,400 2,003 2,530 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,743,590 1,333,749 10,064,794 1,214,697 1,546,180 665,473 482,083 3,243,532 604,636 361,643 547,952 380,469 1,298,382 Commitments to make industrial advances 8,587 265 758 1,136 1,160 676 511 16 350 56 152 3,507 I.IATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 r.onthc 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 2,727 1,402 111 336 324 546 8 Industrial advances 9,103 2,079 67 207 259 986 997 1,428 3,080 U. S. Government securities, direct and guaranteed 2,449,928 105,974 177,220 186,967 732,267 1,247,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE HOTE STATEMENT ON AUGUST 35, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Kinn. "ans.Cy. Dallas San Fran. rederal Reserve notes: Issued to F.R.bank by F.R.agent 5,566,947 445,615 1,499,220 381,688 500,534 246,956 181,469 1,183,932 208,030 148,6l4 200,260 90,064 480,565 Held by Federal Reserve bank 343,665 17,216 106,397 20,651 .21,197 19,296 15,230 47,054 11,019 5,807 9,46l 8,352 6.1,985 In actual circulation 5,223,282 428,399 1,392,823 361 ,037 479,337 227,660 166,239 1,136,-378 197,011 142,807 190,799 81,712 418,580 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,679,500 460,000 1,525,000 390,000 503,000 260,000 185,000 1,200,000 219,000 150,500 205,000 93,000 489,000 Eligible paper 1,614 6l 484 217 - - 203 - - - - 115 205 32.9 - - Total collateral 5,681,114 460,061 1,52.5,484 390,217 503,000 260,203 185,000 1,200,000 219,115 150,705 205,329 93,000 489,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis