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, Oct. 11; of the Federal Reserve System not earlier*. October 10. 1940 CONDITION OF THE FEDERAL RESERVE BAIJKB During the week ended October 9 member bank reserve balances increased $127,000,000. Additions to member bank reserves arose from decreases of $99,000,000 in Treasury deposits vdth Federal Reserve Banks and $11,000,000 in nonnember deposits and other Federal Reserve accounts and increases of 378,000,000 in gold r stock and $2,000,000 in Treasury currency, offset in part by a decrease of $37,000,000 in Reserve Bank credit and an increase of $27,000,000 in money in circulation. Excess reserves of member banks on October 9 v;ere estimated to be approximately $6,820,000,000, an increase of $100,000,000 for the week. The principal change in holdings of bills and securities v/as in United States Government securities, direct and guaranteedI holdings of bonds increased 581,000,000 and of notes decreased^$106,000,000, Changes in member bank reserve balances and related items during the vreek and the year ended October 9,194-0, were as fo]J.ows« Increase or decrease since Oct. 9, Oct. 2, Oct. 11, 1940 1940 3.939 (in millions of dollars) Bills discounted 8 + 2 + 1 Bills bought _ _ _ _ - 1 U, S. Gov't securities,direct and guaranteed 22,,339999 - 25 -366 Industrial advances (not including 8 million commitments - October 9) 8 — - 4- Other Reserve Bank credit 30 - 15 + 4 Total Reserve Bank credit 2,445 - 37 -365 Gold stock 21,349 + 73 +4,376 Treasury currency 3,048 + 2 + 124 Member bank reserve balances 13,927 +127 +2,188 Honey in circulation 8,199 + 27 + 853 Treasury cash 2,294 + 56 Treasury deposits v.dth F. R, Banks 579 - 99 + 175 llonmeraber deposits and other F. R. accounts 1,844 - 11 + 864 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Porn F.R.283-a Released for publication Friday morning, October 11,1940; note arlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKSC 0MBI1ISD (In thousands of dollars) Increase or decrease since Oct. 9, Oct. 2, Oct. 11, 1940 1940 . .1939,.. A S S E TS Gold certificates on hand and due fron U* S. Treasury 19,032,300 + 78,997 +4,306,585 Redenption fund - F. R. notes Il,3£l 408 + 2,394 Other cash 319,347 - 8,630 + 4,153 Total reserves 19,363,028 + 69,959 +4,313,132 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 3,370 + 2,021 + 2,039 Other bills discounted 4,615 + 317 568 - Total bills discounted 7,985 + 2,338 + 1,471 Bills bought in open market — — - — — 498 Industrial advances 88,,440000 + 25 — 33,,440033 U. S. Government securities, direct and guaranteed: Bonds 1,400,100 + 81,500 + 84,158 Ilotes 999,000 -106,000 - 246,497 Bills - - - 203,457 Total U. S. Government securities, direct and guaranteed 2,399,100 - 24,500 - 365,796 Total bills and securities 2,415,485 " 22,137 — 368,226 Due from foreign banks 47 - - - 178 F. R # notes of other banks 20,573 - 1,576 - 263 Uncollected items 689,084 - 78,962 + 21,448 Bank premises 41,259 + 2 823 - Other assets 54,893 + 214 16,225 - T O T AL A S S E TS 22,584,369 - 32,500 +3,948,865 L I A B I L I T I ES F. g,* notes in actual circulation 55,,447799,,336644 ++ 1155,,112266 + 772211,,555522 Deposits: Member bank - reserve account 13,927,014 +126,809 +2,187,858 U % S # Treasurer- General account 579,053 - 99,007 + 175,518 Foreign 1,056,401 + 10,943 + 612,194 Other deposits 517,853 - 23,212 + 220,453 Tot a], deposits 16,080,321 + 15,532 +3,196,023 Deferred availability items 665599,,112244 -- 6644,,226677 + 1177,,550044 Other liabilities including accrued dividends 3,874 + 4-33 497 - T O T AL L I A B I L I T I ES 22,222,683 - 33,176 +3,934,582 C A P I T AL A C C O U N TS Capital, paid in 137,641 + 9 + 2,080 Surplus (Section 7) 151,720 _ - + 2,568 Surplus (Section 13b) 26,839 - _ - 42 5 Other capital accounts 45.486 + 667 + 10,060 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 2222,,558844,,336699 - 32,500 +3,948,865 Ratio of total reserves to deposit and F t R t note liabilities combined 89.8% + ,2% + 4,5% Contingent liability on bills purchased for foreign correspondents - 101 Commitments to make indus trial advances 7,598 + 15 - 2,730 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fbrm F. R. 2S3~b STATEMENT OF CONDITION OF THE FEDERAL EE-SERVE BANKS 013 OCTOBER 9, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Oy. Dallas San Fran, Gold certificates on hand and due from U.S.Treasury 19,032,300 1,169,758 9,249,309 971,735 1.257,907 511,989 355,492 2,941,244 465,688 302,136 410,477 266,253 1,130,312 Redemption fund - F.R.notes 11,381 1,606 1,522 706 676 1,663 894 1,339 296 445 538 594 1,102 Other cash 319,347 33,019 88,883 26,201 19,853 18,763 14,398 37,352 14,169 6,463 16,951 12,263 31,032 Total reserves 19,363,028 1,204,383 9,339,714 998,642 1,278,436 532,415 370*704 2, 979,935 430,153 309,044 427,966 279,110 1,162,446 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 3,370 - - 2,744 111 133 50 2 50 79 146 40 Other bills discounted 4,615 — — 3,195 158 82 22 152 96 36 85 334 319 86 Total bills discounted 7,985 - - 5,939 269 215 72 154 111 86 135 413 465 126 , Industrial advances 8,400 1,120 11,,778811 22,,441111 371 822 261 269 5 270 214 253 662233 I?. S. Government securities direct and guaranteed: Bonds 1,400,100 100,056 423,467 117,715 140,503 72,498 53,161 158,121 5588,,886677 39,032 66,504 53,334 116,842 Notes 999,000 71,391 302,153 83,991 100,251 51,730 37,932 112,821 42,003 27,850 47,452 38,056 83,370 Total U.S. Gov't securities direct and guaranteed 2,399,100 171,447 725,620 201,706 240,754 124,228 91,093 270,942 100,870 66,882 113,956 91,390 200,212 Total bills and securities 2,415,485 172,567 733,340 204,386 241,340 125,122 91,508 271,322 100,961 67,287 114,583 92,108 200,961 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 20,573 919 2,543 1,000 1,455 1,727 2,394 2,219 2,040 759 1,338 583 3,596 Uncollected items 689,084 64,563 155,694 47,303 74,220 63,161 29,367 99,196 40,706 20,581 32,809 26,846 34,638 Bank premises 41,259 2,847 9,750 Z i f y/ /O4r0* 0 5,436 2,488 2,002 3,358 2,423 1,374 3,097 1,121 2,875 Other assets 54,893 3,686 16,047 4,574 5,957 3,143 1,971 5,789 2,136 1,548 2,440 2,770 4,832 T O T AL A S S E TS 22,584,369 1,4-48,968 10,257,106 1,260,398 1,606,848 728,058 498,028 3,361,825 628,420 400,593 582,234 402,539 1,409,352 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 28>-c STATEMENT OF 00IJDITI01I OF THE FEDERAL RESERVE BANKS Oil OCTOBER 9, 1940 (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 5,479,364 445,368 1,458,801 376,547 502,077 253,404 176,523 1,174,800 203,729 151,671 197,398 89,112 449,934 Deposits» Member bank-reserve acct.13,927,014 824,209 7,350,053 672,4-86 877,091 334,524 224,388 1,887,697 315,787 169,106 278,594 219,104 773,975 U.S.TreasureiMjeneral acct, 579,053 32,706 179,226 32,311 45,925 27,198 25,950 59,026 27,677 32,194 35,027 32,115 49,698 Foreign 1,056,401 49,749 591,079 71,071 67,445 31,184 25,383 87,026 21,756 15,955 21,031 21,757 52,965 Other deposits 517,853 7,189 4-12,203 26,215 8,037 4,179 4,835 7,676 7,888 4,332 8,666 2,303 23,825 Total deposits 16,080,321 913,853 8,532,566 802,083 998,498 397,085 280,556 2,041,425 373,108 221,587 343,318 275,779 900,463 Deferred availability itens 659,124 64,388 139,876 47,966 71,870 61,786 27,658 99,209 40,134 17,821 30,649 25,951 31,816 Other liabilities including accrued dividends 3,374 4l4 1,041 404 419 129 172 422 130 162 145 165 271 TOTAL LIABILITIES 22,222,683 1,424,023 10,132,284 1,227,000 1,572,864 712,404 484,909 3,315,856 617,101 391,241 571,510 391,007 1,382,484 C A P I T AL A 0 C 0 U 1? T S Capital paid in 137,641 9,333 51,052 11,884 14,066 5,340 4,677 13,937 4,164 2,952 4,423 4,157 11,656 Surplus (Section 7) 151,720 10, ¥35 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,Io9 4,393 1,007 3,246 713 1,429 538 1,001 1,142 1,266 2,121 Other capital accounts 45.436 2,333 13,335 2,923 4,588 1,821 2,004 7,779 1,908 2,247 1,546 2,135 2,867 TOTAL LIABILITIES A1ID CAPITAL ACCOUNTS 22,584,369 1,448,968 10,257,106 1,260,398 1,606,848 728,058 493,028 3,361,825 628,420 400,593 582,234 402,539 1,409,352 Coranitnents to nake industrial advances 7,598 358 728 11,,004411 998822 661177 550099 UI A h4Y1l7 50 136 4 2,742 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 nonths to 1 Year to 2 Years 5 Years 5 Years 11 Bills discounted 7,985 6,334 23-5 391 735 279 Industrial advances 8,400 1,345 148 255 592 792 1,308 1,445 2,515 U. S. Government securities, direct and guaranteed 2,399,100 103,300 115,300 194,000 662,000 1,324,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE BOTE STATRIEI-IT ON OCTOBER 9, 194) (In thousands of dollars) Total Boston How York Phila. Cieve. Rich. Atlanta Chicago St Louis Minn. Kans. Cy. Dallas San Fran. # Federal Reserve notesl Issued to F.R.Bank by F.R*agent 5,771,996 464,006 1,542,680 394,967 523,224 265,924 192,266 1,204,620 216,735 156,532 205,293 97,042 503,699 Held by Federal Reserve Bank 292,632 18,638 83,887 18,420 21,147 12,520 15,743 29,820 13,006 4,861 7,895 7,930 58,765 In actual circulation 5,479,364 445,368 1,458,801 376,547 502,077 253,404 176,523 1,174,800 203,729 151,671 197,398 89,112 44-9,934 Collateral held by agent as security for notes issued to bank: Gold certificates 011 hand and due from U. S. Treasury 5,844,500 470,000 1,555,000 400,000 524,500 275,000 195,000 1,220,000 219,000 157,500 .210,000 99,500 519,000 Eligible paper 6,485 - - 5,662 218 50 - - 70 98 387 - - Total collateral 5,850,935 470,000 1,560,662 400,218 524,500 275,050 195,000 1,220,000 219,070 157,598 210,387 99,500 519,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis