H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 233 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, August 30; of the Federal Reserve System not earlier. August 29, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended August 28 member bank reserve balances increased $97,000,000* Additions to member bank reserves arose from increases of $71,000,000 in gold stock and $4,000,000 in Treasury currency, and a decrease of $76 ,000,000 in Treasury deposits with Federal Reserve Banks, offset in part by a decrease of $12,000,000 in Reserve Bank credit, and increases of $30,000,000 in money in circulation and $12,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on August 28 were estimated to be approximately $6,490,000,000, an increase of $70,000,000 for the week. Holdings of United States Treasury ' notes decreased $4,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 28, 1940, were as follows! Increase or decrease since Aug. 28, Aug. 21, Aug. 30, 1940 1940 1939 (In millions of dollars) Bills discounted 4 + 1 2 Bills bought - ~ 1 U. S. Govft securities,direct and guaranteed 2,442 4 16 Industrial advances(not including 8 million commitments - August 2.8) 9 3 Other Reserve Bank credit 26 23 Total Reserve Bank credit 2,480 - 12 + 32 Gold stock 20,871 + 71 +4,233 Treasury currency 3,034 + 4 + 129 Member bank reserve balances 13,516 + 97 +2,565 + Money in circulation 8,006 30 + 865 Tre asury c ash 2,291 - 36 Treasury deposits with F. R. Banks 813 76 + 104 Nonmember deposits and other F. R. accounts 1,759 12 + 896 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR~283~a 'Released for publication Friday morning, Aug. 30, 1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 21, Aug.30, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,561,978 + 75,000 +4,249,758 Redemption fund - F. R.notes 11,826 — + 3,182 Other cash 348,390 - 5,666 + 8,642 Total reserves 18,922,194 + 69,334 +4,261,582 Bills discounted: Secured by U S. Gov't obligations, f direct and guaranteed 1,229 + 110 - 888800 Other bills discounted 2,619 + 680 — 1,462 Total bills discounted 3,848 + 790 - 2,342 Bills bought in open market - - - 546 Industrial advances 8,553 - 8 — 3,114 U. S. Government securities, direct and guaranteed: Bonds 1,319,196 + 406,736 Notes 1,122,458 - 4,274 - 56,651 Bills — - 334,620 Total U. S. Government securities, direct and guaranteed 2,441,654 4,274 + 15,465 - Total bills and securities 2,454,055 - 3,492 + 9,463 Due from foreign banks 47 — — - 130 F. R.notes of other banks 2.0,812 + 771 - 2,852 Uncollected items 636,584 - 24,735 + 47,880 Bank premises 41,364 - 31 - 847 Other assets 60,191 + 865 + 8,069 T O T AL A S S E TS 22,135,247 + 42,712 +4,323,165 L I A B I L I T I ES F. R. notes in actual circulation 55,,333344,,224400 + 2244,,330011 + 772244,,995588 Deposits: I.Iomber bank - reserve account 13,515,998 + 97,280 +2,564,994 U. S. Treasurer - General account 813,094 - 76,180 + 104,483 Foreign bank 888,288 + 21,229 + 538,156 Other deposits 609,460 9,006 + 351,692. - Total deposits 15,826,840 + 33,323 +3,559,325 Deferred availability items 661111,,002244 - 1155,,552222 + 25,484 Other liabilities including accrued dividends 3,284 + 388 664 - T O T AL L I A B I L I T I ES 21,775,388 + 42,490 +4,309,103 C A P I T AL A C C O U N TS Capital paid in 137,582 + 20 + 2,095 Surplus (Section 7) 151,720 — — + 2,568 Surplus (Section 13b) 26,839 — — — 425 Other capital accounts 43.718 + 202 + 9,824 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,135,247 + 42,712 +4,323,165 Ratio of total reserves to deposit and F. R. note liabilities combined 89.4$ + ,1% + 2,5% Contingent .""lability on bills purchased for foreign correspondents — - 3.01 Commitments to make industrial advances 8,238 - 3 - 2,771 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Porn F. R. 28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 28, 1940 (in thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St.Louis ! linn. Kans. Cy.D allas San Fran. Gold certificates on hand and due from U.S.Treasury 18,561,978 1,145,311 9,009,035 969,122 1,254,354 481,133 3-66,281 2.378,563 458,287 283,969 3^6,195 256,821 1,073,007 Redemption fund - F.R.notes» 11,836 1,850 1,477 1,077 402 1,61s 1,147 829 400 495 633 650 1,248 Other cash 348,390 31,705 95,412 30,241 22,551 21,680 19,345 39,972 17,575 8,090 17,648 14., 297 29,874 Total reserves 18,922,194 1,178,866 9,105,924 1,000,440 1,277,307 504,431 386,773 2,919,364 476,262 292,554 404,376 271,768 1,104,129 Bills discounted* Secured by U.S. Govft obli gations, direct and guaranteed 1,229 15 660 74 113 60 10 25 50 31 151 40 Other bills discounted 2,619 8 1,200 85 34 198 100 66 ,211 717 Total bills discounted •3,848 23 1,860 159 147 60 208 25 100 116 242 868 40 Industrial advances 8,553 1,127 11,,880055 22,,441199 337755 779900 208 272 5 227 215 462 648 U. S» Government securities t direct and guaranteed: Bonds 1,319,196 96,246 404,139 104,660 135,286 66,080 48,389 140,001 61,113 38,847 62,380 51,444 110,611 Hotes 1,122,458 81,892 343,868 89,050 115,111 56,225 41,173 119,122 52,000 33,054 53,077 43,771 94,115 Total U*3»Gov!t securities, direct and guaranteed 2,441,654 178,138 748,007 193,710 250,397 122,305 89,562 259,123 113,113 71,901 115,457 95,215 204,726 Total bills and securities 2,454,055 179,288 751,672 196,288 250,919 123,155 89,978 259,420 113,218 72,244 115,914 96,545 205,414 Due from foreign banks 47 3 18 5 4 2 2: 6 1 * 1 1 4 F. R. notes of other banks 20,812 893 2,161 1,104 1,310 3,421 2,048 2,550 1,659 1,035 1,445 519 2,617 Uncollected items 636,584 57,203 151,216 45,671 80,844 50,762, 23,588 89,704 35,269 17,142 28,672 26,502 30,011 Bank premises 41,364 2,857 9,785 4,497 5,449 2,494 2,005 3,351 2,397 1,379 3,133 1,133 2,884 Other assets 60,191 4,152 17,650 4,715 6,706 3,420 2,159 6,124 2,613 1,307 2,740 2,777 5,328 T O T AL A S S E TS 22,135,247 1,423,262 10,038,426 1,252,720 1,622,539 637,685 506,553 3,280,519 631,419 386,211 556,281 399,245 1,350,387 *Less than $500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATHMIT OF CONDITION OF THE FEDERAL RESERVE BAIIKS OH AUGUST 28, 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 circulation 5,334,240 436,388 1,426,949 369,546 489,430 234,390 171,500 1,150,618 198,700 145,292 192,343 83,733 435,351 Deposits* Llember bank-reserve acct. 13,515,998 768,930 7,211,153 650,295 855,423 308,737 228,168 1,797,108 310,747 163,176 269,689 212,147 740,425 U.S.Treasurer-General acct. 813,094 66,374 299,588 40,188 80,032 39,855 34,859 81,132 41,200 29,109 29,818 36,651 34,288 Foreign bank 888,288 63,104 315,286 87,201 82,751 38,261 31 a43 106,776 26,694 19,576 25,804 26,694 64,998 Other deposits 609,460 7,454 518,035 27,685 5,447 1,185 5,072 8,514 7,319 4,533 1,061 2,708 20,447 Total deposits 15,826,840 905,862 8,344,062 805,369 1,023,653 388,038 299,242 1,993,530 3^5,960 216,394 326,372 278,200 860,158 Deferred availability items 611,024 55,703 142,372 44,392 75,322 49,552 22,589 90,208 35,415 15,058 26,720 25,711 27,982 Other liabilities including accrued dividends 3,284 435 863 319 314 101 144 348 129 152 184 132 163 TOTAL LIABILITIES 21,775,388 1,398,388 9,914,246 1,219,626 1,588,719 672,081 493,475 3,234,704 620,204 376,896 545,619 387,776 1,323,654 C A P I T AL A C C O U N TS Capital paid in 137,582 9,332 51,075 11,880 14,059 5,337 4,673 13,914 4,154 2,952 4,422 4,139 11,645 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 43,718 2,263 12,670 2,623 4,431 1,774 1,967 7,648 1,814 2,210 1,485 2,090 2,743 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,135,247 1,423,262 10,038,426 1,252,720 1,622,539 687,685 506,553 3,280,519 631,419 386,211 556,281 399,245 1,350,387 Commitments to make industrial advances 8,238 260 741 1,034 1,119 701 510 15 374 54 144 3,282 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 Yoars Bills discounted 3,848 2,217 233 688 518 187 5 Industrial advances 8,553 1,565 173 242 298 953 1,271 1,526 2,525 U. S.Government securities, direct and guaranteed 2,441,654 100,500 234,247 129,940 733,467 1,243,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE HOTE STATEMENT ON AUGUST 28, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans«Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 5,623,589 453,557 1,509,606 388,703 510,325 250,125 185,979 1,180,208 209,377 U9,4()6 202,662 91,237 492,404 Held by Federal Reserve Baric 289,349 17,169 82,657 19,157 20,895 15,735 14,479 29,590 10,677 4,114 10,319 7,504 57,053 In actual circulation 5,334,240 436,388 1,426,949 369,546 489,430 234,390 171,500 1,150,618 198,700 145,292 192,343 03,733 435,351 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,723,000 4-60,000 1,525,000 390,000 511,500 275,000 190,000 1,200,000 23.9,000 150,500 205,000 93,000 504,000 Eligible paper 2,537 23 1,860 155 60 - - - - 100 105 234 - - Total collateral 5,725,537 460,023 1,526,860 390,155 511,500 275,060 190,000 1,200,000 219,100 150,605 205,234 93,000 504,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis