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. 16; of the Federal Reserve System not earlier* August 15, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 14 member bank reserve balances increased $54,000,000. Additions to member bank reserves arose from increases of $121,000,000 in gold stock, $24,000,000 in Reserve bank credit and $2,000,000 in Treasury currency, offset in part by increases of $17,000,000 in Treasury deposits with Federal Reserve banks, $15,000,000 in money in circulation, $5,000,000 in Treasury cash and $57,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on August 14 v/ere estimated to be approximately $6,390,000,000, an increase of $60,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 14, 1940, were as follows: Increase or decrease since Aug. 14, Aw?. 7, Aug. 16, 1940 1940 1939 (in millions of dollars) Bills discounted 3 - — 2 Bills bought U.S. Qov!t securities,direct and guaranteed 2,446 -. -- + 2 1 3 Industrial advances(not including 8 million commitments - August 14) 9 - - 3 Other Reserve bank credit 38 25 + 25 Total Reserve bank credit 2,495 + 24 + 42 Gold stock 20,689 + 121 +4,354 Treasury currency 3,027 + o + 127 Member bank reserve balances 13,340 + 54 +2,707 Money in circulation 7,944 + 15 + S53 Treasury cash 2,281 + 5 - 85 Treasury deposits with F. R. banks 940 + 17 + 164 Honmeniber deposits and other F.R. accounts 1,706 + 57 + 885 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Aug. 16,1940; not earlier, STATELIEST OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Am. 1A Aug. 7, Aug. 16, 9 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 10,387,980 +114,005 +4,419,759 Redemption fund - F. R. notes 11,951 902 + 2,895 Other cash 362.066 + 3,144 + 20.557 Total reserves 18,761,997 +116,247 +4,443,211 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,012 225 - 40 Other bills discounted 1,935 64 - 1,565 Total bills discounted 2,947 289 - 1,605 Bills bought in open market — — 545 Industrial advances 22,,554455 57 — 33,,007700 U.,S. Government securities, direct and guaranteed: Bonds 1,319,196 + 408,106 Notes 1,126,732 - 49,377 Bills 335,540 - Total U. S, Government securities, direct and guaranteed 2,445,928 — — + 23,189 Total bills and securities 2,457,420 346 + 17,969 Due from foreign banks 47 — — — 131 F. R. notes of other banks 21,679 - 1,115 - 956 Uncollected items 778,624 +164,586 + 56,810 Bank premises 41,407 — - 852 Other assets 58,754 + 1,231 + 8,304 T O T AL A S S E TS 22,119,928 +280,603 +4,524,355 L I A B I L I T I ES F. R.notes in actual circulation 55,,229922,,000033 + 11,877 + 728,981 Deposits: Member bank - reserve account 13,339,587 + 53,726 +2,706,138 U. S. Treasurer - General account 940,004 + 16,610 + 164,265 Foreign bank 841,341 + 25,000 + 560,676 Other deposits 602,924 + 32,911 + 312,339 Total deposits 15,723,856 +128,247 +3,749,418 Deferred availability items 774400,,996633 ++113399,,991155 + 3322,,118800 Other liabilities including accrued dividends 2,891 + 4-31 57 - T O T AL L I A B I L I T I ES 21,760,513 +280,470 +4,510,522 C A P I T A L A C C O U N TS Ca^ic-:.! in 137,553 + 10 + 2,076 Snr>:J:is ,>: -r-.^ion 7) 151,720 - _ + 2,568 Sv:;uf- ; £ - on 13b) 26,839 - _ - 42 5 C a .r c-api c-al accounts 43,303 + 123 + 9,614- TOTAL LIAB1LITiES AND CAPITAL ACCOUNTS 22,119,928 +280,603 +4,524,355 Ratio of total reserves to deposit and F R, note liabilities combined 89.3 % 2.756 t Contingent liability on bills purchased for foreign correspondents 101 Commitments to make industrial advances 8,370 61 - 2,891 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>b STATEMENT OF OOHDITIOE OF THE FEDERAL RESERVE BALTES OK AUGUST 14, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 18,387,980 1,135,625 8,926,155 977,932 1,234,774 468,350 365,796 2,853,093 447,912 ;2 81,353 398,845 256,196 1,041,949 Redemption fund - F.R.noten 11,951 1,900 1,679 1,160 478 1,112 1,184 942 417 503 649 659 1,268 Other cash 362,066 31,167 101.964 32,003 24,680 21,740 17,996 43,776 16,589 8,356 16,717 14,867 32,211 Total reserves 18,761,997 1,168,692. 9,029,798 1,011,095 1,259,932 491,202 384,976 2,897,811 464,918 ;2 90,212 416,211 271,722 1,075,428 Bills discounted: Secured by U. 8. GovTt obligations, direct and guaranteed 1,012 15 380 94 138 50 10 41 65 28 151 40 Other bills discounted 1,935 12 331 58 39 90 213 10 110 73 274 682 38 Total bills discounted 2,947 27 711 152 177 140 223 51 110 143 302 833 78 Industrial advances 8,545 11,,113366 1,808 22,,442222 374 790 209 272 5 220 193 464 652 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 62,345 51,4-23 110,607 Notes 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.Gov't securities, 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 2,457,420 179,593 752,124 196,657 251,387 123,399 90,139 2,59,872 113,357 72,357 116,089 96,640 205,806 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 21,679 781 1,934 1,304 1,431 2,808 1,961 3,041 1,693 1,087 1,912 4 55 3,272 Uncollected items 778,624 73,386 195,635 66,673 97,490 62,123 26,126 106,943 31,820 18,874 32,091 25,625 41,838 Bank premises 41,407 2,857 9,785 4,508 5,462 2,500 2,009 3,351 2,397 1,379 3,133 1,133 2,893 Other assets 58,754 4,030 17,196 4,573 6,548 3,371 2,086 5,979 2,555 1,768 2,690 2,708 5,250 T O T AL A S S E TS 22,119,928 1,429,342 10,006,490 1,284,815 1,622,254 685,405 507,299 3,277,003 616,741 385,677 572,127 398,284 1,334,491 *Less than 6500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 2S3~b STATEMENT OF CONDITION OF TKS FEDERAL RESERVE BANKS 013 AUGUST 14, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston 15gw York Phila. Cleve. Rich. Atlanta Chicago St.Louis I.linn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,292,803 431,255 1,414,373 367,365 434,972 231,324 171,659 1,145,469 198,672 143,164 193,171 82,357 429,022 Deposits! I.I ember bank-reserve acct. 13,339,587 758,703 7,128,806 646,700 835,731 301,163 230,706 1,759,176 300,927 162,325 276,351 214,821 724,178 U.S.Treasurer-General acct. 940,004 74,755 362,454 51,797 88,860 40,718 32,841 108,735 41,502 31,186 35,493 37,522. 34,141 Foreign bank 841,341 60,268 299,428 82,365 78,162 36,140 29,416 100,855 25,214 18,490 24,373 25,214 61,416 Other deposits 602,924 6,946 500*317 36,680 6,717 1,226 5,076 10,31S 7,450 A,256 1,329 5,558 20,351 Total deposits 15,723,856 900,672 8,291,005 817,542 1,009,470 379,2/47 298,039 .,979,084 375,093 216,257 337,546 279,815 840,086 Deferred availability items 740,963 72,188 176,405 66,604 93,691 59,178 24,411 106,305 31,670 16,801 30,600 24,538 33,572 Other liabilities including accrued dividends 2,891 408 674 235 345 36 133 372. 108 137 I63 121 109 TOTAL LIABILITIES 21,760,513 1,404,523 9,882,457 1,251,746 1,588,478 669,835 494,242 3,231,230 605,543 376,359 561,480 386,831 1,307,789 C A P I T AL A C C O U N TS Capital paid in 137,553 9,333 51,075 11,881 14,057 5,325 4,667 13,906 4,153 2,960 4,416 4,137 11,643 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 43,303 2,207 12,523 2,597 4,389 1,752 1,952 7,6l4 1,798 2,205 1,476 2,076 2,714 TOTAL LIABILITIES AND CAPITAL ACC0U1JTS 22,119,928 1,429,342 10,006,490 1,2,84,815 1,622,254 685,405 507,299 3,277,003 6l6,74l 385,677 572,127 398,284 1,334,491 Commitments to make industrial advances 8,370 263 749 1,034 1,126 690 510 16 375 54 152 4 3,397 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 2,947 1,405 161 415 575 387 4 Industrial advances 8,545 1,503 136 309 150 1,081 1,307 1,496 2,563 U. S. Government securities, direct and 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 STATS.IE1IT Oil AUGUST 14, 1940 (In thousands of dollars) Total Boston Ifcvr 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 5,588,093 449,911 1,496,848 384,490 505,133 249,525 184,818 1,180,807 209,831 149,252 202,923 89,649 484,906 Held by Federal Reserve bank 295,290 18,656 82,475 17,125 20,161 18,201 13,159 35,338 11,159 6,088 9,752 7,292 55,884 In actual circulation 5,292,803 431,255 1,414,373 367,365 484,972 231,324 171,659 1,145,469 198,672 143,164 193,171 82,357 429,022 Collateral held by agent as security for notes issued to bank! Gold certificates on hand and due fron U. S. Treasury 5,685,000 460,000 1,515,000 390,000 508,500 260,000 190,000 1,200,000 219,000 150,500 205,000 93,000 494,000 Eligible paper 1,543 27 711 152 140 - - 85 136 292 - - Total collateral 5,686,543 460,027 1,515,711 390,152 508,500 260,140 190,000 1,200,000 219,085 150,636 205,292 93,000 494,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis