H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F« R. 283 STAT3.IENT FOR THE PRESS Released for publication Board of Governors Friday morning, August 23; of the Federal Reserve System not earlier. August 22, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 21 member bank reserve balances increased $79,000,000. Additions to member bank reserves arose from a decrease of $51,000,000 in Treasury deposits with Federal Reserve banks and increases of $111,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by increases of $32,000,000 in money in circulation, $10,000,000 in Treasury cash, and $41,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $3,000,000 in Reserve bonk credit. Excess reserves of member banks on August 21 were estimated to be approximately $6,420,000,000, an increase of $30,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 21, 1940, were as follows: Increase or decrease since Aug. 21, Aug * 14, Aug. 23, 1940 1940 1939 (In millions of dollars) Bills discounted 3 • - 2 Bills bought 1 - - U.S. Gov!t securities,direct and guaranteed 2,446 + 23 Industrial advances (not including 8 million commitments - August 21) ny 3 Other Reserve bank credit 35 — 3 + 34 _ Total Reserve bank credit 2,492 3 + 51 Gold stock 20,800 + 111 +4,299 Treasury currency 3,030 + 3 + 127 Member bank reserve balances 13,419 + 79 +2,590 Money in circulation 7,976 + 32 + 878 Treasury cash 2,291 + 10 - 43 Treasury deposits with F. R. banks 889 51 + 165 - Nonmember deposits -and other F. R. accounts 1,747 + 41 + 8S7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, Aug. 23,1940? not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 21, AuS . U, Aug. 23, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,486,978 + 98,998 +4,319,258 Redemption fund - F. R. notes 11,826 - 125 + 2,700 Other cash 354,056 8,010 + 9,210 - Total reserves 18,852,860 + 90,863 +4,331,168 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 1,119 + 107 + 107 Other bills discounted + 4 - 1,867 Total bills discounted 3,058 + 111 1,760 - Bills bought in open market _ _ - - - 575 Industrial advances 88,,556611 + 16 33,,111166 - 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 2,4-45,928 — + 23,189 Total bills and securities 2,457,547 + 127 + 17,738 Due from foreign banks 47 - - 102 F. R. notes of other banks 20,041 - 1,638 1,691 Uncollected items 661,319 -117,305 + 57,054 Bank premises 41,395 12 829 Other assets 59,326 + 572 + 8,294 T O T AL A S S E TS 22,092,535 - 27,393 +4,411,632 L I A B I L I T I ES F. R. notes in actual circulation 5,309,939 + 17,136 + 737,S09 Deposits: Member bank - reserve account 13,418,718 + 79,131 +2,589,748 U. S. Treasurer - General account 889,274 - 50,730 + 165,520 Foreign bank 867,059 + 25,718 + 543,299 Other deposits 618,466 + 15,542 + 338,280 Total deposits 15,793,517 + 69,661 +3,636,847 Deferred availability items 626,546 -114,417 + 23,326 Other liabilities including accrued dividends 2,896 + 5 — 222 T O T AL L I A B I L I T I ES 21,732,898 - 27,615 +4,397,760 C A P I T AL A C C O U N TS Capital paid in 137,562 + 9 + 2,076 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13b) 26,839 — 425 Other capital accounts 43,516 + 213 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,092,535 - 27,393 +4,411,632 Ratio of total reserves to deposit and F. R, note liabilities combined 89.3% ~ ~ + Contingent liability on bills purchased for foreign correspondents 101 Commitments to make industrial advances 8,241 - 129 - 2,834 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fern F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAHXS OK AUGUST 21, 1940 (In thousands of do .liars) 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 18,486,973 1,144,905 3,975,371 967,917 1,235,001 475,395 367,735 2,365,037 460,355 235,398 399,515 254,353 1,055,891 Redenption fund - i?'.R.notes 11,026 1,850 1,477 1,077 402 1,618 1,147 329 400 495 633 650 1,243 Other cash 354,056 31,485 95,222 31,706 23,131 24,030 20,542 33,047 17,645 8,104 19,027 12,937 32,080 Total reserves 13,352,860 1,173,240 9,072,070 1,000,700 1 ,258,534 501,093 339,474 2,903,963 473,400 293,997 419,175 267,995 1,089,219 Bills discounted! Secured by U.S. Gov't obligations, direct and guaranteed 1,119 15 440 94 113 60 9 56 65 36 161 70 Other bills discounted 1,939 9 397 54 34 65 200 10 125 80 226 709 30 Total bills discounted 3,053 2.4 837 143 147 125 209 66 125 145 262 370 100 Industrial advances 8,561 1,132 1,808 2,420 337733 790 209 272 5 222 216 462 652. U. S. Government securities, direct and guaranteed: Bonds 1,319,196 96,236 404,294 104,677 135,236 66,053 48,383 139,937 61,076 38,829 62,345 51,423 110,607 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 2,457,547 179,586 752,250 196,651 251,356 123,334 90,125 259,337 113,372 72,361 116,072 96,675 205,823 Due fron foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 20,041 1,108 1,829 1,136 1,672 2,502 1,891 1,951 1,755 1,189 2,193 376 2,439 Uncollected items 661,319 61,100 160,704 49,520 75,263 56,924 23,657 92,509 27,279 18,766 29,632 23,310 42,655 Bank premises 41,395 2,857 9,785 4,508 5,449 2,500 2,008 3,351 2,398 1,379 3,133 1,134 2,893 Other assets 59,326 4,090 17,334 4,645 6,603 3,369 2,142 6,008 2,602 1,796 2,698 2,751 5,2 88 T O T AL A S S E TS 22,092,535 1,426,984 10,013,5>0 1,257,165 1,598,881 689,774 509,299 3,267,675 625,807 389,488 572,904 392,242 1,348,326 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. ft. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 21, 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. Xans.Cy. Dallas San Fran. F* R. notes in actual circulation 5,309,939 433,796 1,418,624 367,293 486,964 232,147 172,157 1,148,821 198,586 144,776 192,766 83,162 430,847 Deposits i Member bank-reserve acct. 13,4-18,718 766,791 7,158,549 643,932 834,429 307,083 2-3l,04o 1,776,375 313,255 161,045 275,837 212,557 737,825 U.S.Treasurer-General acct. 889,274 72,450 329,859 55,435 81,498 41,725 35,018 88,633 42,228 ^4,576 38,254 34,865 34,733 Foreign bank 867,059 61,940 308,332 84,960 80,625 37,278 30,343 .104,033 26,008 19,073 25,l4l 26,008 63,318 Other deposits 618,466 7,777 529,482 24,095 7,165 1,145 4,908 9,622 6,950 4,304 1,156 1,839 20,023 Total deposits 15 ,793,517 908,958 8,326,222 808,422 1 ,003,717 387,231 301,309 1,978,663 388,441 218,998 34) ,388 275,269 855,899 Deferred availability items 62.6,546 58,964 144,266 48,088 74,092 54,72.8 22,637 94,125 27,475 16,266 28,948 22,235 34,722 Other liabilities including accrued dividends 2,896 418 760 279 304 68 130 302 97 128 150 113 147 TOTAL LIABILITIES 21 ,732,898 ]. ,402,136 9,889,872 ]. ,224,082 1 ,565,077 674,174 496,233 3,221,911 614,599 380,168 562,252 380,779 ]. ,321,615 C A P I T AL A C C O U N TS Capital paid in 137,562 9,333 51,075 11,880 14,059 5,330 4,669 13,910 4,154 2,960 4,416 4,139 11,637 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 10,22.4 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 43,516 2,236 12,608 2,612 4,415 1,777 1,959 7,601 1,807 2,207 1,481 2,084 2,729 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,092,535 1,426,984 10,013,990 1,257,165 1,598,881 689,774 509,299 3,267,675 625,807 389,488 572,904 392,242 1,348,326 Commitments to nake industrial advances 8,241 260 742 1,034 1,121 689 510 15 374 54 144 4 3,294 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 Yspjs 5 Years 5 Years Bills discounted 3,058 1,579 198 409 639 231 2 Industrial advances 8,561 1,545 200 243 297 943 1,279 1,497 2,557 tr. S^ Government securities, direct and guaranteed 2,445,928 104,774 234,247 129,940 733,467 1,243,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDSEAL RESERVE NOTE STATEMENT Oil AUGUST 21, 1940 (In thousands of dollars) Cotal Boston Nov/ York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kano.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 5,607,570 447,577 1,503,090 388,714 509,314 249,852 186,274 1,181,287 208,618 150,095 201,667 89,809 490 /477* 3 Held by Federal Reserve ban!: 297,631 13,781 85,266 21,421 22.,350 17,705 14,117 32,466 10,032 5,319 8,901 6,647 59,62 In actual circulation 5,309,939 433j796 1,418,624 367,293 486,964- 232,147 172,157 1,148,821 198,586 VJ fTfo 192,766 83,162 430,847 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,688,000 460,000 1,515,000 390,000 511,500 260,000 190,000 1,2.00,000 219,000 150,500 205,000 93,000 494,000 Eligible paper 1,625 24 837 148 - - 125 - - - - 100 138 253 - - Total collateral 5,689,625 460,024 1,515,837 390,148 511,500 260,125 190,000 1,200,000 219,100 150,638 205,253 93,000 494,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis