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 27; of the Federal Reserve System f not earlier. September 26, 194-0 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended September 25 member bank reserve balances increased $79',000,000. Additions to member bank reserves arose from an increase of $73,000,000 in gold stock, and decreases of $13,000,000 in Treasury cash and $24,000,000 in nonmenber deposits and other Federal Reserve accounts, offset in part by a decrease of $23,000.,000 in Reserve Bank credit, and increases of $6,000,000 in money in circulation and $3,000,000 in Treasury deposits with Federal Reserve Banks. Excess reserves of member banks on September 25 were estimated to be approximately $6,650,000,000, an increase of $120,000,000 for the week* Changes in member bank reserve balances and related items during the week and the year ended September 25, 1940, were as follows 1 Increase or decrease since Sept. 25, Sept. 18, Sept. 27, 1940 "1940 1939 (In millions of dollars) Bills discounted 5 +1 1 Bills bought 1 U S. Gov't securities,direct and guaranteed 2,434 - - - 370 # Industrial advances(not including 8 million commitments - September 25) 9 3 Other Reserve Bank credit 25 - 23 +1 Total Reserve Bank credit 2,472 - 23 - 374 Gold stock 21,166 + 73 +4,241 Treasury currency 3,04l +1 + 127 Member bank reserve balances 13,703 + 79 +2,082 Money in circulation 8,090 + O + 852 Treasury cash 2,298 - 13 + 38 Treasury deposits with F.R, Banks 793 + 3 + 241 Honmember deposits and other F. R f accounts 1,795 - 24 + 782 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R.-283-a Released for publication Friday morning, September 27,1940; not earlier. STATEMENT OF CONDITION OF THE 'TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Sept. 25, Sept. 18, Sept. 27, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 13,843,300 + 87,002 +4,186,583 Redemption fund - F. R. notes 11,790 + 392 + 4,446 Other cash ^7,534 + 3,147 + 8,488 Total reserves 19,202,624 + 90,541 +4,199,517 Bills discounted! Secured by U. S. Gov't obligations, _ direct and guaranteed 860 1 712 Other bills discounted 3,722 + 492 - 1,062 Total bills discounted 4,582 + 491 - 1,774 Bills bought in open market — — — — — 548 Industrial advances 8,664 + 52 —" 2,980 U, S. Government securities, direct and guaranteed! Bonds 1,318,600 + 2,658 Notes 1,115,000 - - - 130,497 Bills — - - - 242,370 Total U« S. Government securities, direct and guaranteed 2,433,600 - 370,209 Total bills and securities 2,446,846 + 543 - 375,511 Due from foreign banks 47 — — 129 F. R. notes of other banks 22,875 + 463 + 2,076 Uncollected items 694,970 -156,740 + 48,332 Bank premises 41,294 16 - 846 Other assets 53,547 + 834 — 14,342 T O T AL A S S E TS 22,462,203 - 64,375 +3,859,097 L I A B I L I T I ES F. R. notes in actual circulation 5,406,985 + 11,061 + 723,259 Deposits! Member bank - reserve account 13,703,112 + 78,693 +2,081,774 U. S. Treasurer - General account 792,532 + 2,171 + 240,642 Foreign 1,011,324 - 24,135 + 543,744. Other deposits 513,645 + 236 + 209,732 Total deposits 16,020,613 + 57,065 +3,075,892 Deferred availability items 670,157 -133,139 + 47,398 Other liabilities including accrued dividends 2,653 + 516 - 1,317 T O T AL L I A B I L I T I ES 22,101,408 - a,497 +3,845,232 C A P I T AL A C C O U N TS Capital paid in 137,630 7 + 2,119 Surplus (Section 7) 151,720 — + 2,568 Surplus (Section 13b) 26,839 - 4-25 Other capital accounts 44,606 + 129 + 9,603 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,462,203 - 64,375 +3,859,097 Ratio of total reserves to deposit and F. R. note liabilities combined 89.6% + .1% + 4.5% Contingent liability on tills purchased for foreign correspondents — - 101 Commitments to make industrial advances 8,078 + 71 - 2,439 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 25, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. At 1. ant a Chicago St.Louis Llinn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 18,843,300 1,151,977 9,165,787 960,771 1,255,785 503,617 349,637 2,983,843 457,723 284,155 399,547 261,129 1,069,329 Redemption fund - F.R.notes 11,790 1,672 1,788 812 775 1,285 936 1,454 317 456 556 607 1,132 Other cash 347,534 35,541 95,390 28,053 21,718 20,969 16,457 40,846 15,696 7,182 18,396 12,354 34,932 Total reserves 19 1,189 on 9,262,965 989,636 1,278,278 525,871 367,030 3,036,143 473,736 291,793 418,499 274,090 1,105,393 Bills discounted! Secured by U, S. Gov't obligations, direct a nd guaranteed 860 226 129 133 50 2 5 30 65 150 70 Other bills discounted 3,722 - — 2,310 162 72 18 167 62 92 97 210 471 61 Total bills discounted L^P 2,536 291 205 68 169 67 92 127 275 621 131 Industrial advances 8,664 11,,114455 11,,778833 22,,339933 337733 838 266 271 5 280 214 460 636 U. S. Government securities, direct and guaranteed! Bonds 1,318,600 96,222 403,661 104,577 135,227 66,100 48,380 139,966 61,156 38,864 62,418 51,459 110,570 Notes 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 2,446,846 178,733 749,315 195,691 250,150 122,900 89,725 258,657 112,967 72,134 115,687 96,053 204,834 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 22,875 643 2,379 941 1,748 2,795 1,767 2,391 2,711 1,309 1,951 415 3,825 Uncollected items 694,970 62,321 161,373 50,798 80,602 72,285 25,587 91,763 36,333 22,354 28,245 25,483 37,826 Bank premises 41,294 2,852 9,768 4,498 5,436 2,4+94 2,002 3,345 2,394 1,377 3,117 1,127 2,884 Other assets 53,547 3,704 15,651 4,300 5,967 3,049 1,876 5,383 2,293 1,604 2,395 2,557 4,768 T O T AL A S S E TS 22,462,203 1,437,446 10,201,469 1,245,869 1,622,185 729,396 487,989 3,387,688 630,435 390,571 569,895 399,726 1,359,534 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS Oil SEPTEMBER 25, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chic,ago St.Louis Minn, Kans.Cy. Dallas San Fran. F. R. notes in actual cix*culation 5,406,985 440,800 1,443,235 373,972 497,576 246,013 173,012 1,162,404 200,390 149,090 193,878 86,421 440,194 Deposits1 Member bank-reserve acct. 13,703,112 789,276 7,225,194 651,750 867,498 329,636 219,338 1,911,425 313,757 159,333 272,406 214,985 748,514 U.S.Treasurer-General acct. 792,532 62,996 277,478 45,169 72,315 34,813 29,358 83,904 40,097 33,449 34,770 38,294 39,889 Foreign 1,011,324 47,582 574,626 66,544 63,149 29,198 23,766 81,482 20,370 14,938 19,691 20,371 49,607 Other deposits 513,645 10,554 407,453 25,368 8,646 3,178 4,622 7,860 7,553 4,096 11,853 3,052 19,410 Total deposits 16,020,613 910,408 8,484,751 788,831 1,011,608 396,825 277,084 2,084,671 381,777 211,8l6 338,7.20 276,702 857,420 Deferred availability items 670,157 60.928 147,959 49,365 78,745 70,816 24,645 94,342 36,873 20,180 26,465 24,952 34,887 Other liabilities including accrued dividends 3,653 399 1,012 366 368 120 156 405 112 159 152 153 251 TOTAL LIABILITIES 22,101,408 1,412,535 10,076,957 1,212,534 1,588,297 713,774 474,897 3,341,822 619,352 381,245 559,215 388,228 1,332,752 C A P I T AL A C C O U N TS Capital paid in 137,630 9,333 51,046 11,889 14,068 5,339 4,680 13,927 4,164 2,952 4,423 4,156 11,653 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 3.0,224 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 44,606 2,299 13,031 2,855 4,490 1,790 1,974 7,686 1,872 2,221 1,502 2,102 2,784 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,462,203 1,437,446 10,201,469 1,245,869 1,622,185 729,396 487,989 3,387,688 630,435 390,571 569,895 399,726 1,359,534 Commitments to make industrial advances 8,078 356 733 1,029 1,082 651 510 14 368 51 136 4 3,144 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 4,582 2,929 263 474 741 174 1 Industrial advances 8,664 1,661 115 305 304 769 1,414 1,518 2,578 U. S. Government securities, direct and guaranteed 2,433,600 92,500 116,800 117,300 196,000 668,000 1,243,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 283~d FEDERAL RESERVE NOTE STATEMENT Oil SEPTEMBER 25, 1940 (in thousands of dollars) Total Boston Uevx York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notest Issued to F.R.Bank by F.R.agent 5,703,707 460,974 1,525,517 388,095 519,685 260,058 187,755 1,191,992 211,650 154,159 204,810 95,345 503,667 Held by Federal Reserve Bank 296,722 20,174 82,282 14,123 22,109 14,045 14,743 29,588 11,260 5,069 10,932 8,924 63,473 In actual circulation 5,406,985 440,800 1,443,235 373,972 497,576 246,013 173,012 1,162,404 200,390 149,090 193,878 86,421 440,194 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due fron U. S. Treasury 5,806,500 470,000 1,545,000 400,000 521,500 275,000 190,000 1,210,000 219,000 154,500 205,000 97,500 519,000 Eligible paper 3,079 - - 2,361 251 50 - - 80 83 254 - - Total collateral 5,809,579 470,000 1,547,361 400,251 521,500 275,050 190,000 1,210,000 219,080 154,583 205,254 97,500 519,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis