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, Sept. 6; of the Federal Reserve System not earlier. September 5 1940 ? CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 4 member bank reserve balances increased $8,000,000. Additions to member bank reserves arose from a decrease of $22,000,000 in Treasury deposits with Federal Reserve Banks and increases of $73?000,000 in gold stock/$10,000,000 in Reserve Bank credit, and $2,000,000 in Treasury currency, offset in part by increases of $86,000,000 in money in circulation and $12,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of neriber banks on September 4 were estimated to be approximately $6,490,000,000, unchanged for the week. The item "Foreign'bank" deposits has been changed to "Foreign" deposits as the item now includes deposits of some foreign governments for mom the Federal Reserve Bank of New York, as fiscal agent of the United States, has opened accounts. The principal change in holdings of bills and securities was a decrease of $8,000,000 in United States Government securities, direct and guaranteed; holdings of bonds decreased $1,000,000 and of notes $7,000,000. Changes in member bank reserve balances and related items during the v;eek and the year ended September 4, 1940, were as follows: Increase or decrease since Sept. 4, Aug. 28, Sept. 6, 1940 1940 1939 (In millions of dollars) Bills discounted 6 + 2 Bills bought — - - 1 U. S. Qovft securities,direct and guaranteed 2,434 — 8 - 160 Industrial advances(not including 8 million commitments - September 4) 9 — 3 Other Reserve Bank credit 42 + 16 + 12 Total Reserve Bank credit 2,490 + 10 - 153 Gold stock 20,944 + 73 +4,218 Treasury currency 3,036 + 2 + 128 Member bank reserve balances 13,524 + 8 +2,383 Money in circulation 8,092 + 86 + 831 Treasury cash 2,292 + 1 + 28 Treasury deposits with F. R. Banks 791 - 22 + 115 Nonmember deposits and other F. R. accounts 1,771 + 12 + 836 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form- FR-28>a Released for publication Friday morning, September 6, 1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept. 4, Aug. 28, Sept. 6, A S S E TS Gold certificates on hand and due fron U. S. Treasury 18,631,297 + 69,319 +4,179,076 Redemption fund - F. R. notes 11,398 - . 428 + 2,754 Other cash 322,814 - 25*576 + 15,033 Total reserves 18,965,509 + 43,315 +4,196,863 Bills discounted! Secured by U. S. Gov*t obligations, direct and guaranteed 1,503 + 274 43 Other bills discounted 4,031 + 1.412 — 421 Total bills discounted 5,534 + 1,686 - 464 Bills bought in open market — ~ - 546 Industrial advances 8,645 + 92 — 2,982 U. S. Government securities, direct and guaranteedt Bonds 1,318,600 596 + 297,381 Notes 1,115,000 - 7,458 - 123,573 Bills - - - - - 334,620 Total U» S. Governnent securities. direct and guaranteed 2,433,600 - 8,054 - 160,812 Total bills and securities 2,447,779 - 6,276 - 164,804 Due fron foreign banks 47 - 130 F. R. notes of other banks 21,221 409 - 2,079 Uncollected items 663,569 + 26,985 + 76,626 Bank premises 41,307 - 57 - 855 Other assets 61,230 + 1,039 - 2 T O T AL A S S E TS 22,200,662 + 65,415 +4,105,619 L I A B I L I T I ES F. R. notes in actual circulation 5,390,785 rs r 1 ** + 707,069 Deposits? Member bank - reserve account 13,523,861 + 7,863 +2 ,383,253 U. S. Treasurer - General account 791,182 - 21,912 + 115,627 Foreign 997,516 + 6,856* + 600,333 Other deposits 512,525 + 5,437* + 221,277 Total deposits 15,825,084 - 1,756 +3,320,490 Deferred availability, items 621,720 + 10,696 + 64,889 Other liabilities including accrued dividends 2,853 - 431 - 704 T O T AL L I A B I L I T I ES 21,840,442 + 65,054 +4,091,744 C A P I T AL A C C O U N TS 'Capital paid in 137,586 + 4 + 2,090 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 44,075 + 357 + 9,642. TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,200,662 + 65,415 .+4,105,619 Ratio of total reserves to deposit and F. R. note liabilities combined 89.4$ + 3.5% Contingent liability on bills purchased for foreign correspondents - 101 Commitments to make industrial advances 8,192 46 >,739 *Aug. 28 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 4, 1940 (In thousands of dollars) 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 18,631,297 1,145,286 9,144,389 954,662 1,242,057 488,226 357,683 2,356,072 451.286 282,333 336,007 255.125 1,068,166 Redemption fund - F.R # notes 11,398 1,802 1,280 993 1,000 1,123 1,111 733 383 486 620 640 1,227 Other cash 322,814 29,581 85,6n 29,672 21,409 20,610 17,773 36,278 15,830 7,436 16,552 12,314 29 ,748 Total reserves 18,965,509 1,176,669 9,231,280 985,327 1,264,466 509,959 376,567 2,893*083 467,499 2.90,260 403,179 268,079 1,099,141 Bills discounted: Secured by II. S. Gov't obligations, direct and guaranteed 1*503 90 770 164 113 60 10 20 — — 25 31 180 40 Other bills discounted 4,031 — — 2,685 76 34 167 - — 80 59 235 680 15 Total bills discounted 90 3,455 240 147 60 177 20 80 84 2.66 860 55 Industrial advances 8,645 11,,112277 11,,880044 22,,339977 375 850 267 271 5 222233 221155 446633 648 U. S. Government securities, direct and guaranteed: Bonds 1,318,600 96,222 403,661 104,577 135,227 66,100 48,380 139,966 61,156 38,864 62,418 51,459 110,570 Notes 1,115,000 81,366 341,335 83,430 114,345 55,894 40,910 118,353 51,714 32,863 52,780 43,513 93,497 Total U.S. Gov't securities, direct and guaranteed 2,4^600 177,588 744,996 193,007 249,572 121,994 89,290 258,319 112,870 71,727 115,198 94,972 204,067 Total bills and securities 2^447,779 178,805 750,255 195,644 250,094 122,904 89,734 258,610 112,955 72,034 115,679 96,295 204,770 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F* R. notes of other banks 21,221 577 1,924 759 1,843 3,112 2,149 2,714 1,578 1,739 1,935 469 2,422 Uncollected items 663,569 62,556 141,420 41,547 78,835 58,911 28,985 91,237 40,651 20,005 33,542 25,907 39,973 Bank premises 41,307 2,852 9,767 4,497 5,449 2,494 2,005 3,345 2,393 1,377 3,117 1,127 2,884 Other assets 61^230 4,201 17,942 4,788 6,828 3,427 2,166 6,249 2,689 1,842 2,800 2,830 5,468 T O T AL A S S E TS 22,200,662 1,425,663 10,152,606 1,2.32,567 1,607,519 700,809 501,608 3,255,244 627,766 387,257 560,253 394,708 1,354,662 *Less than §500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 28>c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 4, 194) (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 5,390,785 44),799 1,446,938 371,845 492,015 237,935 173,025 1,159,489 2.00,0C5 147,342 194,491 85,292 441,609 Deposits: Member bank-reserve acct.13,523,861 790,879 7,167,891 652,499 867,320 321,052 231,696 1,789,007 309,593 163,080 270,373 219,472 740,999 U.S.Treasurer-General acct. 791,182 54,986 301,575 42,071 69,133 37,479 29,759 82,376 39,814 30,725 32,344 31,116 39,804 Foreign -997,516 46,2.62 569,376 65,219 61,892 28,617 23,293 79,860 19,965 14,641 19,300 19,965 48,626 Other deposits 512,525 7,762 418,43.2 27,630 5,628 3,792 5,111 9,101 7,155 4,194 697 2,489 20,554 Total deposits 15,825,084 899,889 8,457,754 787,419 1,003,973 390,940 289,859 1,960,344 376,527 212,640 322,714 273,042 849,983 Deferred availability items 621,720 59,661 122,842 39,905 77,391 56,244 25,510 89,280 39,887 17,817 32,259 24,780 36,144 Other liabilities including accrued dividends 2,853 448 678 287 292 81 131 290 95 136 120 120 TOTAL LIABILITIES 21,840,442 1,400,797 10,02.8,212 1,199,456 1,573,671 685,200 /88,525 3,209,403 6l6,5l4 377,935 549,584 383,234 1,327,911 C A P I T AL A C C O U N TS Capital paid in 137,586 9,332 51,075 11,880 14,058 5,337 4,673 13,918 4,154 2,951 4,422 4,140 11,646 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 44,075 2,255 12,884 2,640 4,460 1,779 1,972 7,670 1,851 2,218 1,492 2,094 2,760 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,200,662 1,425,663 10,152,606 1,232,567 1,607,519 700,809 501,608 3,255,244 627,766 387,257 560,253 394,708 1,354,662 Commitments to make industrial advances 8,192 2.60 740 1,034 1,108 699 510 15 369 52 144 3,257 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 3,806 Bills discounted 5,534 323 686 449 268 2 Industrial advances 8,645 1,596 209 163 25c 955 1,356 1,499 2,609 U. S. Government securities, direct and guaranteed 2,433,600 92,500 234,100 129,800 734,200 1,243,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 283~d FEDERAL RESERVE HOTS STATELIEST Oil SEPTEMBER 4, 1940 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Ilinn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F. R, Bank by F.R.agent 5,639,131 452,261 1,516,656 337,009 512,115 251,137 186,479 1,185,372 208,497 152,098 202,016 91,522, 493,969 Held by Federal Reserve Bonk 248,346 11,462 69,718 15,164 20,100 13,202 13,454 25,883 8,492 4,756 7,525 6,230 52,360 In actual circulation 5,390,785 440,799 1,446,938 371,845 4-92,015 237,935 173,025 1,159,489 200,005 147,342 194,491 85,292 441,609 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 5,739,500 460,000 1,535,000 390,000 515,000 275,000 190,000 1,200,000 219,000 152,500 205,000 94,000 50^,000 Eligible paper 4,200 90 3,405 240 - - 60 - - - - 80 67 258 - - Total collateral 5,743,700 460,090 1,538,405 390,240 515,000 275,060 190,000 1,200,000 219,030 152,567 205,258 94,000 504,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis