H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R, 283 STATEMENT FDR THE PRESS Released for publication Board of Governors Friday morning, Oct, 4j of the Federal Reserve System not earlier* October 3, 1940 CONDITION OF THE FEDERAL RESERVE pAIIKS During the week ended October 2 member bank reserve balances increased $97,000,0001 Additions to member bank reserves arose from decreases of $115*000,000 in Treasury deposits with • % Federal Reserve Banks and $4,000,000 in Treasury cash and increases of $105,000,000 in gold stock, $10,000,000 in Reserve Bank credit, and $5,000,000 in Treasury currency, offset in part by increases of $82,000,000 in money in circulation, and $60,000,000 in nonmember deposits and other Federal Reserve accounts® Excess reserves of member banks on October 2 were estimated to be approximately $6,720,000,000, an increase of $70,000,000 for the week. Holdings of United States Treasury notes decreased $10,000,000 during the week* Changes in member bank reserve balances and related items during the week and the year ended October 2, 1940, were as followsf Increase or decrease since Oct. 2, Sept 25, Oct. 4, f 1940 1940 1939 (in millions of dollars) Bills discounted 6 + 1 1 Bills bought —- 1 U. S, Govft securities,direct and guaranteed 2,424 - 10 - 36I Industrial, advances (not including 8 million commitments - October 2) 8 - 1 4 Other Reserve Bank credit 45 + 20 + 12 Total Reserve Bank credit 2,482 +10 - 355 Gold stock 2.1,271 +105 +4,313 Treasury currency 3,046 +5 + 126 Member bank reserve balances 13,800 + 97 +2,128 Money in circulation 8,172 +82 + 863 Treasury cash 2,294 - 4 + 44 Treasury deposits with F R Banks 678 -115 + 209 # # Nonmember deposits and other F, R, accounts 1,855 +60 + 840 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F«R«-283~a Released for publication Friday morning, October 4, 1940; not earlier* STATEMENT OF common OF THE TWELVE FEDERAL RESERVE BAWKS COMBINED (in thousands of dollars) Increase or decrease since Oct. 2, Sept. 25, Oct. 4 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 18,953,303 +110,003 +4,257,086 Redemption fund - F. R. notes 11,789 1 + 2,784 Other cash 327,977 - 19,557 + 2,824 Total reserves 19,293,069 + 90,445 +4,262,694 Bills discounted! Secured by U. S. 3ovft obligations, direct and guaranteed 1,3*9 + 489 + 72 Other bills discounted -4,298 + 576 1,174 Total bills discounted 5,647 + 1,065 - 1,102 Bills bought in open market — — — — - 548 Industrial advances to 289 — 3,466 U.S. Government securities, to 3,466 direct and guaranteed! Bonds 1,31s,600 + 2,658 Notes 1,105,000 - 10,000 - 140,4-97 Bills - 223,457 Total U. S. Government securities, direct and guaranteed 2,4-23,600 - 10,000 — 361,296 Total bills and securities 2/37,622 - 9,224- - 366,412 Due from foreign banks 47 — _ 129 F. R. notes of other banks 22,14-9 726 + 1,566 Uncollected items 768,046 + 73 >076 + 101,532 Bank premises 41,257 37 — 825 Other assets 54,679 + 1,132 14,272 T O T AL A S S E TS 22,616,869 +154,666 +3,984,154 L I A B I L I T I ES F. R. notes in actual circulation 55,,446644,,223388 ++ 5577,,225533 + 732,105 Deposits! i.Ienber bank - reserve account 13,800,205 + 97,093 +2,128*541 U.S. Treasurer - General account 678,060 -114,472 + 208,933 Foreign 1,045,458 + 34,134 + 579,321 Other deposits 541,066 + 27,421 + 231,663 Total deposits 16,064,789 + 44,176 +3,148,450 Deferred availability items 772233,,339911 ++ 5533,,223344 + 8899,,990088 Other liabilities including accrued dividends 3,44-1 212 ?74 T O T AL L I A B I L I T I ES 22,255,859 +154,451 +3,970,097 CAP I T A.- .L A C C O U N TS Capital paid in 137,632 + 2 + 2,172 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 - 425 Other capital accounts 44,819 + 213 + 9,742 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,616,869 +154,666 +3,984,154 Ratio of total reserves to deposit and F. R. note liabilities combined 89.6% - — + 4.4% Contingent liability 011 bills purchased for foreign correspondents - - — — - 101 Conuitnents to make industrial advances 7,583 495 2,695 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. E. 2.83-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAITXS Oil OCTOBER 2, 1940 (In thousands of dollars) A S S E TS Total Boston New York Pliila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 18,953,303 1,172,013 9,249,490 963,649 1,262,544 493,796 351,876 2,962,703 461,388 296,660 400,885 265,556 1,072,743 Redemption fund - F^R. notes 11,789 1,672 1,788 812 774 1,285 936 1,454 317 456 556 607 1,132 Other cash 327,977 34,526 83,741 27,461 21,059 22,001 17,234 36,375 14,243 6,631 18,607 12,263 33,786 Total reserves 19,293?069 1,208,211 9,335,019 991,922 1,284,377 517,082 370,096 3,000,532 475,948 303,747 420,C48 278,426 1,107,661 Bills discounted: Secured by U S. Govlt obligations, # direct and guaranteed 1,349 714 139 133 50 2. 15 50 70 136 40 Other bills discounted 4,298 — — 2,949 128 72 68 168 61 82 83 245 364 78 Total bills discounted 5,647 — 3,663 267 205 118 170 76 82 133 315 500 118 Industrial advances 8,375 11,,113355 1,781 22,,336644 337711 822 265 270 5 271 214 225533 624 U* S. Government securities9 direct and guaranteed: Bonds 1,318,600 94,188 399,763 110,901 132,352 68,104 50,013 148,750 55,282 36,675 62,428 50,124 110,020 Notes 1,105,000 78,930 335,004 92,936 110,911 57,073 41,912 124,654 46,328 30,735 52,316 42,003 92,198 , Total U.S. Gov't securities direct and guaranteed 2,423,600 173,118 734,767 203,837 243,263 125,177 91,925 273,404 101,610 67,410 114,744 92,127 202,218 Total bills and securities 2,437,622 174,253 740,211 ,"306,468 2-43,839 126,117 92,360 273,750 101,697 67,814 115,273 92,880 202,960 Due from foreign banks 47 3 18 5 4 2 2 6 1 1 1 4 F. R. notes of other banks 22,149 9 33 1,854 941 1,847 2,888 1,929 2,540 1,051 1,800 1,758 515 4,093 Uncollected items 768,046 76,764 184,989 56,406 94,334 66,012 27,897 107,099 39,336 19,937 32,529 25,844 36,899 Bank premises 41,257 2,847 9,750 4,488 5,436 2,487 2,002 3,358 2,422 1,374 3,097 1,121 2,875 Other assets 54,679 3,698 15,891 4,555 5,957 3,131 1,978 5,781 2,122 1,552 2,441 2,766 4,807 T O T AL A S S E TS 22,616,869 1,466,709 10,287,732 1,264,785 1,635,794 717,719 496,264 3,393,066 622,577 396,224 575,147 401,553 1,359,299 *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 BiSIKS ON OCTOBER 30, 1940 (In thousands of dollars) LI AB I LIT I Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn, Knns.Cy. Dallas San Fran. F. R. notes in actual cir— culati on 5,464, 238 443,637 1,466,079 374,741 498,651 250,752 175,533 1,171,378 202,506 150,944 196,672 88,307 445,038 Deposits t Member bank-reserve acct.1^800,205 815,461 7,277,233 670,077 880,357 323,940 218,467 1,897,098 311,016 164,821 272,581 223,637 745,517 U.S.Treasurer-General acct.678,060 51,846 233,485 34,275 59,197 29,220 31,973 77,272 29,470 33,334 30,767 30,698 36,473 Foreign 1,045,458 48,961 588,914 69,702 66,146 30,584 24,894 85,350 21,337 15,647 20,626 21,337 51,960 Other deposits 5-41,066 6,984 434,053 26,852 8,523 3,254 4,712 8,397 7,796 4,235 12,203 2,146 21,911 Total deposits 16,064,789 923,252 8,533,685 800,906 1,014,223 386,998 280,046 2,068,117 369,619 218,087 336,177 277,818 855,861 Deferred availability items 723,391 74,532 162,477 55,440 88,563 64,244 27,433 107,336 39,026 17,709 31,485 23,785 31,361 Other liabilities including accrued dividends 3,441 391 874 355 434 104 154 349 138 149 136 133 224 TOTAL LIABILITIES 22,255,859 1,441,812 10,163,115 1,231,442 1,601,871 702,098 483,166 3,347,180 611,289 386,889 564,470 390,043 1,332,484 C A P I T AL A C C O U N TS Capital paid in 137,632 9,333 51,051 11,884 14,066 5,339 4,679 13,929 4,164 2,952 4,423 4,157 11,655 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 44,819 2,285 13,131 2,868 4,527 1,789 1,981 7,704 1,877 2,230 1,499 2,113 2,815 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,616,869 1,466,709 10,287,732 1,264,785 1,635,794 717,719 496,264 3,393,066 622,577 396,224 575,147 401,5531 ,359,299 Connitrnents to make industrial advances 7,583 336 728 11,,004411 998822 661199 550099 1144 440077 49 136 4 2,758 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 nonths 1 Year 2 Years to Over Total 15 days 30 days 60 days 90 days 6 nonths , to 1 Year to 2 Years 5 Years 5 Years Mils discounted 5,647 4,113 369 288 677 189 11 Industrial advances 8,375 1,382 131 251 407 930 1,294 1,445 2,535 U. S. Government securities, direct and guaranteed 2,423,600 92,500 110,800 117,300 196,000 664,000 1,243,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 283-d FEDEKAL RESERVE NOTE STATELIEST Oil OCTOBER 2, 1940 (in thousands of dollars) Total Boston Hew 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.a-ent 5,732,623 458,869 1,539,034 394,138 518,911 263,546 189,441 1,194,170 212,353 155,752 204,686 97,331 504,392 Held by Federal Reserve Bank 268,385 15,232 72,955 19,397 20,260 12,794 13,908 22,792 9,847 4,808 8,014 9,024 59,354 In actual circulation 5,464,238 443,637 1,466,079 374,741 498,651 250,752 175,533 1,171,378 202,506 150,944 196,672 88,307 445,038 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due fron U. S. Treasury 5,830,500 470,000 1,555,000 400,000 521,500 275,000 195,000 1,210,000 219,000 157,500 210,000 98,500 519,000 Eligible paper 4,226 - - 3,488 227 - - 50 - - 70 98 293 - - Total collateral 5,834,726 470,000 1,558,488 400,227 521,500 275,050 195,000 1,210,000 219,070 157,598 210,293 98,500 519,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis