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. 13; of the Federal Reserve System not earlier. September 12, 1940 COHDITIOIl OF THE FEDERAL RESERVE BANKS During the week ended September 11 member bank reserve balances increased $72,000,000* Additions to member bank reserves arose from decreases of $12,000,000 in money in circulation, $29,000,000 in Treasury deposits with Federal Reserve Banks, and $5,000,000 in Treasury cash, and increases of $37,000,000 in gold stock and $2,000,000 in Treasury currency, offset in part by a decrease of $5,000,000 in Reserve Bank credit and an increase of $9,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on September 11 were estimated to be approximately $6,540,000,000, an increase of $50,00",000 for the week. Changes in member bank reserve balances and related items during the week and the year ended September 11, 1940, were as followst Increase or decrease since Sept. .11, Sept. 4, Sept. 13, 1940 1940 1939 (in millions of dollars) Bills discounted 5 1 2 Bills bought 1 U.S. Gov?t securities,direct and guaranteed 2,434 - - - 390 Industrial advances (not including 8 million commitments - September ll) 9 - — " "3 Other Reserve Bank crcdit 38 - 4 +8 Total Reserve Bank credit 2,485 - 5 - 388 Gold stock 20,981 + 37 +4,173 Treasury currency 3,038 +2 + 127 Member bank reserve balances 13,596 + 72 +2,070 Money in circulation 8,030 - 12 + 845 Treasury cash 2,287 5 + 60 Treasury deposits with F. R. Banks 762 - 29 + 147 Nonmember deposits and other F. R. accounts 1,780 +9 + 791 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FE-283-a Released for publication Friday morning, September 13,194-0; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept. 11, Sept. 4, Sept. 13, A S S E TS Gold certificates on hand and due from U. S. Treasury 18,671,299 + 40,002 +4,094,580 Redemption fund - F. R. notes 11,397 1 + 3,109 Other cash 340,820 + 18,006 + 16,398 Total reserves 19,023,516 + 58,007 +4,114,087 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 980 523 . t 576 Other bills discounted 4,258 + 227 - 1,439 Total bills discounted 5,238 296 - 2,015 Bills bought in open market - - - 546 Industrial advances 8,630 15 2,987 U. S. Government securities, direct and guaranteed: Bonds 1,318,600 ^ + 49,800 Notes 1,115,000 — - 130,497 Bills - - - 309,420 Total U. S. Government securities, direct and guaranteed 2,433,600 390,117 Total bills and securities 2,447,468 311 - 395,665 Due from foreign banks 47 - 130 F.R. notes of other banks 22,962 + 1,741 - 3,427 Uncollected items 706,834 + 43,265 - 26,930 Bank premises 41,310 + 3 - 856 Other assets 65,117 + 3,807 - 12,352 A S S E TS 22,307,254 +106,592 +3,674,727 L I A B I L I T I ES F. R. notes in actual circulation 5,393,924 + 3,139 + 714,932 Deposits: Llemhor bank - reserve account 13,595,824 + 71,963 +2,070,116 U, 8, Treasurer - General account 761,686 - 29,496 + 146,300 Foreign 956,537 ~ 40,979 + 506,461 Other deposits 563,403 + 50,878 + 258,107 Total deposits 15,877,450 + 52,366 +2,980,984 Deferred availability items 669,184 + 47,464 - 34,940 Other liabilities including accrued dividends 6,129 + 3,276 - 114 T O T AL L I A B I L I T I ES 21,946,687 +106,245 +3,660,862 C A P I T AL A C C O U N TS Capital paid in 137,620 + 34 + 2,123 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 44,388 + 313 + 9,599 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,307,254 +106,592 +3,674,727 Ratio of total reserves to deposit and F.R. note liabilities combined 89.4$ - - * 4.6$ Contingent liability on bills purchased for foreign correspondents - 101 Commitments to make industrial advances 8,123 69 2,796 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF ODIIDITIOII OF THE FEDERAL RESERVE BANKS 013 SEPTEMBER 11, 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 18,671,299 1,132,782 9,139,040 955,365 1,237,184 491,324 362,253 2,877,346 452,910 290,767 405,032 255,838 1,071,458 Redemption fund - F.R. notes 1.1. ,397 1,802 1,280 993 1,000 1,123 1,111 733 383 485 620 640 1,227 Other cash 340,820 33,073 95,414 29,440 21,251 20,528 17,876 39,772 16,366 7,498 16,420 13,350 29,832 Total reserves 1,167,^7 9,235,734 985,798 1,259,435 512,975 381,240 2,917,851 469,659 298,750 422,072 269,828 1,102,517 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 980 360 134 123 60 12 20 10 46 175 40 Other bills discounted 4,258 2,993 115 34 — — 143 80 41 223 614 15 Total bills discounted 5,238 3,353 249 157 60 155 20 80 51 269 789 55 Industrial advances 8,630 11,,112277 11,,779988 22,,339999 374 849 267 271 5 228 215 461 636 TJ. 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 62,4-18 51,459 110,570 Hotes 1,115,000 81,366 341,335 88,430 114,345 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':n,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 ? Z47 ;r A6# 178,715 750,147 195,655 250,103 122,903 89,712 258,610 112,955 72,006 115,682 96,222 204,758 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 22,962 988 2,673 1,085 1,421 3,343 1,406 4,197 1,682 618 2,220 522 2,807 Uncollected items 706,834 63,389 162,048 49,494 87,375 59,343 23,690 98,871 38,879 20 j,817 33,328 25,270 44,330 Bank premises 41,310 2,852 9,768 4,497 5,450 2,494 2,005 3,345 2,394 1,377 3,117 1,127 2,884 Other assets 65,117 4,283 18,363 7,782 6,896 3,519 2,197 6,276 2,725 1,867 2,820 2,863 5,526 T O T AL A S S E TS 22,307,254 1,417,887 10,178,751 1,244,316 1,610,684 704,579 500,252 3,289,156 628,295 395,435 579,240 395,833 1,362,826 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. F.. 283~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 11, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. deve. Rich. Atlanta Chicago St.Louis Minn Kans.Cy. Dallas San Fran. # F. R. notes irr actual circulation 5,393,924 440,416 1,433,694 372,753 Depositss Member bank-reserve acct.13,595,824 794,241 7,155,415 658,995 U.S.Treasurer-General acct. 761,636 41,681 315,348 36,699 43,074 34,193 32,826 73,809 36,683 35,864 38,894 37,961 34,654 Foreign 956,537 46,171 532,943 64,548 61,255 28,322 23,053 79,039 19,760 14,490 19,101 19,760 48,095 Other deposits 563,403 8,536 463,4-29 27,950 6,649 3,454 5,254 8,504 7,435 3,702 5,260 2,347 20,883 Total deposits 15,877,450 890,629 8,467,135 788,192 Deferred availability iteris 669,184 61,505 147,611 46,979 39,738 Other liabilities including accrued dividends 6,129 461 861 3,078 353 106 147 360 112 148 138 139 226 TOTAL LIABILITIES 21,946,687 1,393,011 10,054,301 1,211,007 1,576,825688,964 437,163 3,243,302 617,036 386,110 568,559 384,345 1,336,064 C A P I T AL A C C O U N TS Capital paid in 137,620 9,332 51,081 11,880 14,061 5,339 4,678 13,920 4,154 2,952 4,422 4,151 11,650 -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 2,12.1 Other capital accounts 44,388 2,265 12,934 2,838 4,468 1,783 1,973 7,681 1,858 2,220 1,504 2,097 2,767 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,307,254 1,417,887 10,178,751 1,244,3161,610,684 704,579 500,252 3,289,156 628,295 395,435 579,240 395,833 1,362,826 Commitments to make industrial advances 8,123 260 740 1,032 1,109 645 510 15 369 52 144 4 3,243 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 5,238 3,418 319 734 506 261 2,611 Industrial advances 8,630 1,568 253 138 269 911 1,372 1,508 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

FEDERAL RESERVE NOTE STAT34EITT ON SEPTEMBER 11, 1940 (In thousands of dollars) Total Boston Uew 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 5,688,926 457,758 1,524,027 389,172 517,959 256,929 187,432 1,190,509 2.10,807 153,117 203,340 93,484 504,392 Held by Federal Reserve Bank 295,002 17,342 85,333 16,414 20,913 14,982 14,662 32,271 10,957 5,082 9,613 8,051 59,382 In actual circulation 5,393,924 440,4l6 1,438,694 372,758 497,046 241,947 172,770 1,158,238 199,850 148,035 193,727 05,4-33 445,010 Collateral held by a^ent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,790,000 470,000 1,535,000 400,000 521,500 275,000 190,000 1,210,000 219,000 154,500 205,000 96,000 514,000 Eligible paper 3,844 - - 3,153 249 - - 60 - - - - 80 42 260 - - Total collateral 5,793,844 470,000 1,538,153 400,249 521,500 275,060 190,000 1,210,000 219,080 154,542 205,260 96,000 514,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis