H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FormT. R 283 # STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Aug. 2; of the Federal Reserve System not earlier. August 1, 1940 OONDITIOIl OF THE FEDERAL RESERVE BANKS During the week ended July 31 member bank reserve balances decreased $67,000,000. Reductions in member bank reserves arose from increases of $29,000,000 in money in circulation, $20,000,000 in Treasury cash, $51,000,000 in Treasury deposits with Federal Reserve banks, and $56,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $7,000,000 in Reserve bank credit, offset in part by increases of $95,000,000 in gold stock and $4,000,000 in Treasury currency. Excess reserves of member banks on July 31 were estimated to be approximately $6,510,000,000, a decrease of $60,000,000 for the week. Holdings of United States Government bonds, direct and guaranteed, decreased $2,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended July 31, 1940, wore as follows! Increase or decrease since July 31, July 24, Aug* 2, 1940 1940 1939 (In millions of dollars) Bills discounted 4 + 1 1 Bills bought 1 • - U.S. Gov*t securities,direct and guaranteed 22,,444488 - 2 5 Industrial advances (not including 9 million commitments - July 31) 9 3 Other Reserve bank credit 23 6 + 17 Total Reserve bank credit 2,484 7 + 8 Gold stock 20,462 + 95 +4,214 Treasury currency 3,024 4- A + 129 Member bank reserve balances 13,498 67 +3,085 Money in circulation 7,883 + 29 + 829 Treasury cash 2,249 + 20 - 121 Treasury deposits with F. R. banks 694 + 51 - 169 llonnenber deposits and other F.R. accounts 1,644 + 56 + 72 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, August 2,1940; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since July 31, July 24, Aug, 2, 1940 1940 1939 Ail S0S 0E STiS 1 0 Gold certificates on hand and due from U. S. Treasury 18,188,977 + 75,001 +4,319,755 Redemption fund - F. R. notes 12,852 1 + 3,751 Other cash 277,236 - 2,948 + 27,831 Total reserves 18,579,165 + 72,052 +4,351,337 Bills discounted! Secured by U S. Gov't obligations, t direct and guaranteed 1,891 + 893 + 818 Other bills discounted 1,7a + 52 - 1,806 Total bills discounted 3,672. + 945 988 Bills bought in open market - - — 545 Industrial advances 88,,888844 219 - 22,,886622 U. S. Government securities, direct and guaranteed1 Bonds 1,321,196 - 2,000 + 410,106 Notes 1,126,732 49,377 Bills - - 366,220 Total U. S. Governnent securities. direct and guaranteed 2,447,928 - 2,000 — 5,491 Total bills and securities 2,460,484 - 1,274 - 9,886- Due from foreign banks 47 — — — 131 F. R. notes of other banks 21,433 + 240 697' Uncollected items 640,802 - 14,092 - 8,024 Bank premises 41,417 15 - S42 Other assets . 57.854 + 701 + 8,728 T O T AL A S S E TS 21,801,202 + 57,612 +4,3^0,485 L I A B I L I T I ES F. R. notes in actual circulation 55,,224477,,660011 ++ 2244,,331199 + 771166,,888866 Deposits» Member bank - reserve account 13,498,134 - 66,427 +3,085,251 U. S, Treasurer - General account 694,083 + 51,158 169,379 Foreign bank 787,371 + 45,294 476,235 Other deposits 594,991 + 9,633 + 243,811 Total deposits 15,574,579 + 39,658 +3,635,918 Deferred availability items 661177,,778844 -- 88,,222266 — 2255,,116622 Other liabilities including accrued dividends 2,303 + 98 - 576 T O T AL L I A B I L I T I ES 21,442,267 + 55,849 +4,327,066 C A P I T AL A C C O U N TS Capital paid in 137,499 + 39 + 2,091 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 42.877 + 1.724 + 9, TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,801,202 + 57,612 +4,3^0,485 Ratio of total reserves to deposit and F, R. note liabilities combined 89.255 + 2.8% Commitments to make industrial advances 8,586 1 2,817 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF CONDITIO!] OF THE FEDERAL RESERVE BANKS ON JULY 31, 1940 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kerns.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 18,188,977 1,115,198 8,938,862 953,196 1,205,62-4 456,880 361,069 2,826,384 433,540 261,827 382,06l 242,950 1,011,386 Redemption fund - F.R.notes 12,852 1,988 1,035 1,302 606 1,935 1,246 1,109 451 518 675 678 1,309 Other cash 377,336 31,503 104,395 32,607 26,579 22,482 19,177 47,308 17,043 8,305 17,636 14,809 35,492 Total reserves 18,579,165 1,148,689 9,044,292 987,105 1,232,809 481,297 381,492 2,874,801 451,034 270,650 400,372 258,437 1,048,187 Bills discounted: Secured by U.S.Gov't obligations, direct and guaranteed 1,891 85 165 126 148 100 1A 571 475 31 136 40 Other bills discounted 1,781 21 204 86 44 90 208 18 85 83 301 573 68 Total bills discounted 3,672 106 369 212 192 190 222 589 85 558 332 709 108 Industrial advances 8,884 11,,113388 1,811 22,,666644 336666 843 217 302 5 221 193 465 659 U. S. Government securities direct and guaranteed* Bonds 1,321,196 96,376 404,981 104,845 135,492 66,140 48,453 140,192 61,152 38,880 62,422 51,491 110,772 Notes 1,126,732 82,190 345,372 89,412 115,549 56,406 41,322 119,557 52,151 33,157 53,236 43,913 94,467 Total U.S.GovH securities, direct and guaranteed 2,447,928 178,566 750,353 194,257 251,041 122,546 89,775 259,749 113,303 72,037 115,658 95,404 205,239 Total bills and securities 2,460,484 179,810 752,533 197,133 251,599 123,579 90,214 260,640 113,393 72,816 116,183 96,578 206,006 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 21 433 607 1,463 1,084 1,803 2,885 1,579 2,758 1,016 1,786 1,479 542 4,431 Uncollected items *qq2 58,989 163,845 45,733 77,883 52,687 22,269 89,062 27,320 14,280 27,862 27,591 33,281 Bank premises 41*417 2,S57 9,785 4,508 5,462 2,500 2,009 3,351 2,391 1,379 3,149 1,133 2,893 Other assets 57*854 3,853 16,827 4,669 6,491 3,297 2,058 5,881 2,534 1,742 2,647 2,659 5,196 T O T AL A S S E TS 21,801,202 1,394,808 9,988,763 1,240,237 1,576,051 666,247 499,623 3,236,499 597,689 362,653 551,693 386,941 1,299,998 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 39, 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, Kans.Cy. Dallas San Fran, F. R. notes in actual ciJ>culation 5,247,601 428,922 1,406,292 363,282 476,874 228,569 160,208 1,139,325 197,973 142,923 191,824 82,196 421,213 Deposits* Member bank-reserve acct, 13,4-98,134 774,968 7,281,537 669,016 845,980 300,748 229,20* 1,745,704 301,634 149,863 268,169 217,955 713,356 U.S.Treasurer-General acct.. 694,083 44,152 245,194 29,603 60,005 33,311 32,160 115,114 28,749 24,471 28,226 24,951 28,147 Foreign bank 787,371 55,979 282,547 76,755 72,839 33,678 27,413 93,986 23,496 17,231 22,713 23,496 57,238 Other deposits 594,991 7,796 503,288 23,662 9,678 2,187 5,279 6,183 7,262 4,954 1,004 2,185 21,513 Total deposits 15,574,579 882,895 8,312,566 799,036 988,502 369,924 294,056 1,960,987 361,141 196,519 320,112 268,587 820,254 Deferred availability items £q.7 734 57,944 145,654 44,348 76,723 52,163 24,216 90,216 27,311 13,800 28,992 24,632 31,785 Other liabilities including ' accrued dividends 2,303 384 323 519 219 38 100 234 84 103 137 83 79 TOTAL LIABILITIES 21,442,267 1,370,145 9,864,835 1,207,185 1,542,318 650,694 486,580 3,190,762 586,509 353,345 541,065 375,498 1,273,331 C A P I T AL A C C O U N TS Capital paid in 137,499 9,335 51,084 11,880 14,041 5,320 4,659 13,898 4,143 2,959 4,409 4,136 11,635 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 42,877 2,049 12,409 2,581 4,362 1,740 1,946 7,586 1,790 2,196 1,464 2,067 2,687 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,801,202 1,394,808 9,988,763 1,240,237 1,576,051 666,247 499,623 3,236,499 597,689 362,653 551,693 386,941 1,299,998 Commitments to make industrial advances 8,586 265 756 1,136 1,161 696 510 16 375 59 152 - - 3,460 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 3,672 2,212 80 320 489 563 8 Indusi^ial advances 8,884 1,881 63 207 251 1,042 942 1,428 3,070 U. S. government securities, direct and guaranteed 2,447,928 105,974 177,220 186,967 732,267 1,245,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. P.. 28>d FEDERAL RESERVE NOTE STATEMENT ON JULY 31, 1940 (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 5,553,139 450,262 1,487,155 379,790 499,275 244,436 183,069 1,183,019 209,204 148,416 199,970 89,154 479,389 Held by Federal Reserve bank 305,538 21,340 80,863 16,508 22,401 15,867 14,861 43,694 11,231 5,493 8,146 6,958 58,176 In actual circulation 5,247,601 428,922 1,406,292 363,282 476,874 228,569 168,208 1,139,325 197,973 142,923 191,824 82,196 421,213 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due fron U. S. Treasury 5,664,500 460,000 1,505,000 390,000 503,000 260,000 190,000 1,200,000 219,000 150,500 205,000 93,000 489,000 Eligible paper 1,836 106 369 212 - - 190 - - - - 85 557 317 Total collateral 5,666,336 460,106 1,505,369 390,212 503,000 260,190 190,000 1,200,000 219,085 151,057 205,317 93,000 489,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis