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, Aug. 9; of the Federal Reserve System not earlier. August 8, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 7 member bank reserve balances decreased $212,000,000. Reductions in member bank reserves arose from increases of i $229,000,000 in Treasury deposits with Federal Reserve banks, $46,000,000 in money in circulation, $27,000,000 in Treasury cash and $5,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $13,000,000 in Reserve bank credit, offset in part by an increase of $106,000,000 in gold stock. Excess reserves of member banks on August 7 were estimated to be approximately $6,330,000,000, a decrease of $180,000,000 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 August 7, 1940, were as follows: Increase or decrease since Aug. 7, July 31, Aug* 9, 1940 1940 1939 (in millions of dollars) Bills discounted 3 - 1 2 Bills bought — - 1 U.S.Gov't securities, direct and guaranteed 2,446 - 2 + 3 Industrial advances (not including 8 million commitments - August 7) 9 - 3 Other Reserve bank credit 13 - 10 + 11 Total Reserve bank credit 2,471 - 13 + 9 Gold stock 20,568 +106 +4,298 Treasury currency 3,025 + 1 + 128 Member bank reserve balances 13,286 -212 +2,777 Money in circulation 7,929 + 46 + 859 Treasury cash 2,276 + 27 - 78 Treasury deposits vdth F.R. banks 923 +229 + 79 Ilonmember deposits and other F. R. accounts 1,649 + 5 + 796 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-d Released for publication Friday morning, Aug. 9,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Aug. 7, July 31, Aug. 9, 1940 1940 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,273,975 + 84,998 +4,359,755 Redemption fund - F. R. notes 12,853 + 1 + A,259 Other cash 358.922 18,414 + 10,003 Total reserves 18,645,750 + 66,585 +4,374,017 Bills discountedi Secured by U. S. Gov't obligations, direct and guaranteed 1,237 - 654 - 163 Other bills discounted 1.999 + 21S - 1,519 Total bills discounted 3,236 - 436 - 1,682 Bills bought in open market - - — - 545 Industrial advances 88,,660022 - 282 - 3,063 U.S. Government securities, direct and guaranteed1 Bonds 1,319,196 - 2,000 + 408,106 Notes 1,126,732 - 49,377 Bills - - - 355,715 Total U. S. Government securities, direct and guaranteed 2,445,928 — 2,000 + 3,014 Total bills and securities 2,457,766 - 2,718 - 2,276 Due from foreign banks 47 - - - 131 F* notes of other banks 22,794 + 1,361 + 79 Uncollected items 614,038 - 26,764- + 31,305 Bank premises 41,407 - 10 - 852 Other assets 57,523 331 + 7,605 T O T AL A S S E TS 21,839,325 + 38,123 +4,409,747 L I A B I L I T I ES F. R. notes in actual circulation 5,280,926 + 33,325 + 730,237 Deposits: Llember bank - reserve account 13,285,861 -212,273 +2,776,858 U. S. Treasurer - General account 923,394 +229,311 + 79,126 Foreign bank 816,341 + 28,970 + 509,043 Other deposits 570.013 - 24,978 + 280,776 Total deposits 15,595,609 + 21,030 +3,645,803 Deferred availability items 601,048 - 16,736 + 20,565 Other liabilities including accrued dividends 2.460 + 157 346 - T O T AL L I A B I L I T I ES 21,480,043 + 37,776 +4,396,259 C A P I T AL A C C O U N TS Capital paid in 137,543 + 44 + 2,115 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 — - 425 Other capital accounts 43,180 + .303 + 9,230 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,839,325 + 33,123 +4,409,747 Ratio of total reserves to deposit and F. R. note liabilities combined 89.3% + • 155 + 2,8$ Commitments to make industrial advances 8,431 — 151* — 2,906 *July 31 figure revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-b STATK'IEHT OF CONDITION OF THE FEDERAL RESERVE BANKS OH AUGUST 7, 1940 (in thousands of dollars) A S S E TS Total Boston Ilew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from UTreasury 18,273,975 1,129,940 8,879*523 969,543 1,215,919 455,582 372,276 2,855,307 440,352 283,190 389,571 260,098 1,022,674 Redemption fund - F.R.notes 12,853 1,988 1,035 1,302 6o6 1,935 1,247 1,109 451 518 675 678 1,309 Other cash 358,922 30,985 100,111 31,732 24,531 23,845 18,750 42,097 15,449 7,786 17,507 13,559 32,570 Total reserves 18,645,750 1,162,913 8,980,669 1,002,577 1,241,056 481,362 392,273 2,898,513 456,252 291,494 407,753 274,335 1,056,553 Bills discounted! Secured by U. S Gov't obligations, # direct and guaranteed 1,237 15 485 91 138 50 15 61 — — 80 111 151 4400 Other bills discounted 1,999 18 385 85 44 90 222 18 85 86 282 630 54 Total bills discounted 3,236 33 870 176 182 140 237 79 85 166 393 781 94 Industrial advances 8,602 11,,113366 1,810 22,,442255 364 842 212 275 5 217 193 464 659 U. S. Government securities. direct and guaranteed% Bonds 1,319,196 96,236 404,294 104,677 135,286 66,053 48,383 139,987 61,076 38,829 6622,,334455 51,423 111100,,660077 llotes 1,126,732 82,194 345,311 89,406 115,550 56,416 41,324 119,562 52,166 33,165 53,249 43,920 94,469 Total U.S Gov1t securities f # direct and guaranteed 2,445,928 178,430 749,605 194,083 250,836 122,469 89,707 259,549 113,242 71,994 115,594 95,343 205,076 Total bills and securities 2,457,766 179,599 752,285 196,684 251,382 123,451 90,156 259,903 113,332 72,377 116,180 96,588 205,829 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 22,794 678 1,750 1,237 1,652 2,845 1,583 2,916 1,660 1,490 1,713 510 4,760 Uncollected items 614,038 58,200 140,673 48,884 74,983 59,350 20,891 82,851 24,975 15,232 31,584 21,973 34,392 Bank premises 41,407 2,857 9,785 4,508 5,462 2,500 2,009 3,351 2,396 1,379 3,133 1,134 2,893 Other assets 57,523 3,964 16,763 4,511 6,455 3,292 2,046 5,797 2,515 1,745 2,634 2,628 5,173 T O T AL A S S E TS 21,839,325 1,408,214 9,901,943 1,258,406 1,580,994 672,802 508,960 3,253,337 601,131 383,767 562,993 397,169 1,309,604 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Pom F„ E. 233-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 7, 1940 (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Clevc. Rich. Atlanta Chicago St.Louis Minn® Kans.Cy. Dallaa San Fran. F.R. notes in actual cir— culation 5,280,926 432,032 1,410,742 365,105 483,508 228,831 170,663 :1 ,143,983 198,900 114433,,992255 193,054 82,915 426,468 Deposits* Member bank-reserve acct.13,285,861 765,493 7,117,328 650,133 827,499 292,414 234,232 :1 ,760,236 290,882 159,253 269,550 216,194 694,647 U.S.Treasurer-General acct, 923,394 63,085 364,580 44,579 79,247 41,895 38,444 102,360 38,784 34,415 29,012 39,102 47,891 Foreign bank 816,341 58,540 289,001 00,166 76,076 35,175 28,631 98,162 24,541 17,996 23,723 24,541 59,789 Other deposits 570,013 6,838 468,202 33,733 6,942 1,528 4,845 11,290 7,312 4,842 1,516 1,994 20,971 Total deposits 15,595,609 893,956 8,239,111 808,611 989,764 371,012 306,152 :1 ,980,048 361,519 216,506 323,801 281,831 823,2.98 Deferred availability• items 601,048 57,020 127,605 51,392 7733,,667766 5577,,333355 18,972 83,241 29,441 13,906 3344,,555533 20,874 33,033 Other liabilities including accrued dividends 2,460 402 491 236 284 60 117 308 79 119 140 101 123 TOTAL LIABILITIES 21,480,043-1,383,410 9,777,949 1,225,344 1,547,232 657,238 495,904 3,207,580 589,939 374,456 552,343 385,721 1,282,922 C A P I T AL . A C C O U N TS Capital paid in 137,543 9,336 51,088 11,880 14,054 5,323 4,668 13,898 4,150 2,960 4,4-15 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 43,180 2,189 12,471 2,591 4,378 1,748 1,950 7,606 1,795 2,198 1,480 2,072 2,702 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 21,839,325 1,408,214 9,901,943 1,258,406 1,580,994 672,802 508,960 3,253,337 601,131 383,767 562,998 397,169 1,309,604 Commitments to nake industrial advances 8,431 263 751 1,034 l,l6l 694 510 16 375 55 115522 4 3,416 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l 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 Year; 5 Years 5 Years Bills discounted 3,236 1,719 107 446 523 437 4 Industrial advances 8,602 1,575 102 320 161 1,062 1,306 1,557 2,519 U. S. Governnent securities, direct ai}d guaranteed 2,445,928 - - -- -- -- 105,974 234,247 129,940 732,267 1,243,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE NOTE STATELIEST OH AUGUST 7, 1940 (in thousands of dollars) Total Boston Her/ York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 5,579,915 447,973 1,495,436 386,372 504,577 246,801 184,395 1,181,453 208,855 148,728 201,413 90,332 483,580 Held by Federal Reserve bank 298,989 15,941 84,694 21,267 21,069 17,970 13,732 37,470 9,955 4,803 7,559 7,417 57,112 In actual circulation 5,2.80,926 432,032 1,410,742 365,105 483,508 228,831 170,663 1,143,983 198,900 143,925 193,854 82,915 426,468 Collateral held by agent as eecurity for notes issued to bankt Gold certificates on hand and due from U. S. Treasury 5,682,500 460,000 1,515,000 390,000 506,000 260,000 190,000 1,200,000 2.19,000 150,500 205,000 93,000 494,000 Eligible paper 1,834 33 871 162 140 - - - - 85 159 384 - - Total collateral 5,684,334 460,033 1,515,871 390,162 506,000 260,140 190,000 1,200,000 219,085 150,659 205,334 93,000 494,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis