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, 20$ of the Federal Reserve System not earlier® September 19, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 18 member bank reserve balances increased $28,000,000* Additions to member bank reserves arose from increases of $112,000,000 in gold stock, $10,000,000 in Reserve Bank credit, and $2,000,000 in Treasury currency, offset in part by increases of $24,000,000 in Treasury cash, $28,000,000 in Treasury deposits with Federal Reserve Banks, $4,000,0' 0 in money in circulation, and $39,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on September 18 were estimated to be approximately $6,530,000,000, a decrease of $10,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended September 18, 1940, were as follows! Increase or decrease since Sept, 18, Sept. 11, Servt. 20, 1940 1940 1939 (In millions of dollars) Bills discounted 4 — 1 2 Bills bought — - - 1 U.S. Gov't securities,direct and guaranteed 2,434 - - - 392 Industrial advances (not including 8 million commitments - September 18) 9 - - 3 Other Reserve Bank credit 48 + 10 + 10 Total Reserve Bank credit 2,495 + 10 - 388 Gold stock 21,093 + 112 +4,191 Treasury currency 3,040 + 2 + 12.5 Member bank reserve balances 13,624 + 28 +2,075 Money in circulation 8,084 + I + 848 Treasury cash 2,3U + 24 + 39 Treasury deposits with F. R. Banks 790 + 28 + 171 Nonmember deposits and other F. R, accounts 1,819 + 39 + 796 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Pbha P R.-283a # Released for publication Friday morning, September 20, 1940; not earlier. STATEMENT OF C0UDITI01? OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept. 18, Sept. 11, Sept. 20, 1940 1940 1929 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,756,298 + 84,999 +4,3.34,580 Redemption fund - F. R. notes 11,398 + 1 + 3,110 Other cash 344,387 + 3,567 + 10,106 Total reserves 19,112,083 + 88,567 +4,147,796 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 361 119 - 108 Other bills discounted 3,230 - 1,028 - It 389 Total, bills discounted 4,091 - 1,147 - 1,497 Bills bought in open market - ~ - - - 545 Industrial advances 88,,661122 18 - 33,,005555 U S, Government securities, # direct and guaranteed! Bonds 1,318,600 — + 9,984 Notes 1,115,000 — - 130,497 Bills — - 272,370 Total U. S. Government securities, direct and guaranteed 2,433,600 - — — 392,883 Total bills and securities 2,446,303 - 1,165 - 397,980 Due firoia foreign banks 47 — - 131 F. R. notes of other bonks 22,412 550 + 899 Uncollected items 851,710 +144,876 + 131,397 Bank premises 41,310 — - 849 Other assets 52,713 - 12,404 - 14,058 T O T AL A S S E TS 22,526,570 +219,324 +3,867,074 L I A B I L I T I ES F* R. notes in actual circulation 55,,339955,,992244 + 2,000 + 771188,,331166 Deposits! Member bank - reserve account 13,624,4-19 + 28,595 +2,075,12.0 U. S, Treasurer - General account 790,361 + 23,675 + 171,748 Foreign 1,035,459 + 78,922 + 539,672 Other deposits 513,309 - 50,094 + 227,755 Total deposits 15,963,54S + 86,098 +3,014,285 Deferred availability items 880033,,229966 ++113344,,111122.. + 112211,,112299 Other liabilities including accrued dividends 2,137 - 2,992 - 757 T O T AL L I A B I L I T I ES 22,165,905 +219,218 +3,852,973 C A P I T AL A C C O U N TS Capital paid in 137,637 + 17 + 2,131 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13b) 26,839 - - - 425 Other capital accounts 44,477 + 89 + 9,327 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,526,578 +219,324 +3,867,074 Ratio of total reserves to deposit and F.R.note liabilities combined 89.5% + .156 + 4.65b Contingent liability on bills purchased for foreign correspondents — — - 101 Commitments to nuike industrial advances 8,007 116 - 2,799 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283~b STATEMENT OF CJ013DITI0II OF THE FEDERAL RESERVE BAIIKS OU SEPTEMBER 18, 1940 (In thousands of dollars) A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 18,756,298 1,140,011 9,183,286 969,284 1,243,626 496,497 356,669 2,905,130 454,310 281,742 399,223 255,124 1,071,396 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 344,387 35,648 90,414 29,183 21,646 23,500 17,987 38,548 15,924 7,326 18,912 11,872 33,427 Total reserves 19,112,0^1,177,461 9,274,980 999,460 1,266,272 521,120 375,767 2,944,411 470,617 289,554 418,755 267,636 1,106,050 Bills discounted! Secured by D. S. Gov't obligations, direct and guaranteed 861 101 89 123 240 12 5 10 51 160 70 Other bills discounted 3,230 - - 1,985 158 62 13 103 4S 89 45 174 500 53 Total bills discounted 4.091 2,086 247 185 253 115 53 89 55 225 660 123 Industrial advances 8,612 1,098 1,778 2,395 373 839 267 271 5 275 215 460 636 U. S. Government securities, direct and guaranteed* Bonds 1,318,600 96,222 403,661 104,577 135,227 66,100 48,380 113399,,996666 61,156 38,864 6622,,441188 51,459 110,570 Ilotes 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 2,433,600 177,588 744,996 193,007 249,572 121,994 89,290 258,319 112,870 71,727 115,198 94,972 204,067 Total bills and securities ? J 446,'m 178,686 748,860 195,649 250,130 123,086 89,672 258,643 112,964 72,057 115,638 96,092 204,826 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 22,412 640 2,999 979 1,787 2,542 1,777 2,817 2,029 1,238 1,508 549 3,547 Uncollected items 851,710 77,815 201,889 54,606 99,430 74,560 34,235 121,598 45,277 23,935 35,725 31,272 51,368 Bank premises 41,310 2,852 9,76S 4,497 5,450 2,494 2,005 3,345 2,394 1,377 3,117 1,127 2,884 Other assets 52,713 3,641 15,257 4,264 5,897 2,992 1,877 5,303 2,277 1,584 2,364 2,538 4,719 T O T AL A S S E TS 22,526,578 1,441,098 10,253,771 1,259,460 1,628,970 726,796 505,335 3,33^,123 635,559 389,745 577,108 399,215 1,373,398 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 18, 1940 (in thousands of dollars) LI AB I L I T I E S Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,395,924 440,263 1,441,879 372,742 494,545 242,209 173,080 1,161,260 200,296 148,644 194,036 85,816 441,154 Deposits: Member bank-reserve acct J3,624,419 797,455 7,188,182 660,654 871,381 325,297 226,657 1,851,264 310,679 159,401 272,999 212,728 747,722 U.S.Treasurer-General acct.790,361 46,529 294,474 47,901 65,185 39,847 30,704 75,432 40,752. 33,854 36,343 37,298 42,042 Foreign 1,035,459 46,355 608,840 65,034 61,716 28,535 23,227 79,634 19,908 14,600 19,245 19,908 48,457 Other deposits 513,309 8,095 414,052 25,595 6,525 3,298 4,926 8,150 7,606 3,638 9,263 2,160 20,001 Total deposits 15,963,548 898,434 8,505,548 799,184 1,004,807 396,977 285,514 2,014,480 378,945 211,493 337,850 272,094 858,222 Deferred availability items 803,296 77,151 181,021 53,905 95,399 71,890 33?507 114,180 44,951 20,144 34,424 2.9,678 47,046 Other liabilities including accrued dividends 3,137 36 7 835 309 350 89 143 342 96 139 129 132 206 TOTAL LIABILITIES 22,165,905 1,416,215 10,129,283 1,226,0.40 1,595,101 711,165 492,244 3,290,262 624,288 380,420 566,439 387,720 1,346,628 C A P I T AL A C C O U N TS Capital paid in 137,637 9,332 51,070 11,883 14,062 5,340 4,679 13,925 4,164 2,952 4,423 4,156 11,651 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 44,477 2,272 12,983 2,846 4,477 1,798 1,974 7,683 1,860 2,220 1,491 2,099 2,774 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,526,578 1,441,098 10,253,771 1,259,460 1,628,970 72.6,796 505,335 3,336,123 635,559 389,745 577,108 399,215 1,373,398 Commitments to make industrial advances 8,007 260 737 1,032 1,072 651 510 14 368 53 144 4 3,162 MATURITY DISTRIBUTION OF BILU5 AND SECURITIES Within 16 to 31 to 6l 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 4,091 2,606 158 675 521 131 Industrial advances 8,612 1,598 136 311 ;205 778811 1,484 1,518 2,579 U. S. Government securities, direct and guaranteed 2,433,600 92,500 116,800 117,300 196,000 668,000 1,243,00C Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-d FEDERAL RESERVE HOTE STATEMENT Oil SEPTEMBER 18, 1940 (in thousands of dollars) Total Boston IIGVJ York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn® Kcuis. Cv c Dallas San Fran. Federal Reserve notesJ Issued to F.R.Bank by F.R.agent 5,692,745 455,097 1,522,275 390,259 520,797 256,574 187,930 1,192,094 211,174 153,566 202,301 93,^06 507,272 Held by Federal Reserve Bank 296,821 _U,834 80,396 17,517 26,252 14,365 14,850 30,834 10,878 4,922 8,265 7,590 66,118 In actual circulation 5,395,924 440,263 1,Ml,879 372,742 494,545 242,209 173,080 1,161,260 200,296 148,644 194,036 85,816 Ml,154 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,796,500 470,000 1,535,000 400,000 521,500 275 000 190,000 1,210,000 219,000 154,500 205,000 97,500 519,000 ? Eligible paper 2,744 - - 1,958 218 240 - - 80 AO 208 - - Total collateral 5,799,244 470,000 1,536,958 400,218 521,500 275,240 190,000 1,210,000 219,080 154,540 205,208 97,500 519,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis