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. 18; of the Federal Reserve System not earlier* October 17, 1940 CONDITION OF THE FEDERAL RESERVE BJCIKS During the week ended October 16 member bank reserve balances increased $89,000,000* Additions to member bank reserves arose from decreases of $116,000,000 in Treasury deposits with Federal Reserve Banks and $26,000,000 in Treasury cash, and increases of $36,000,000 in Reserve Bank credit, $24,000,000 in gold stock, and $4,000,000 in Treasury currency, offset in part by increases of $30,000,000 in money in circulation and $87,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on October 16 v/ere estimated to be approximately $6,870,000,000, an increase of $50,000,000 for the week. • The principal ..change in holdings of bills and securities was a reduction of $15,000,000 in United States Government securities, direct and guaranteed* holdings of bonds decreased $-2,000,000 and of notes $13,000,000* Changes in member bank reserve balances and related items during the week and the year ended October 16, 1940, were as follows! Increase or decrease since Oct. 16, Oct. 9, Oct. 18, 1940 1940 1939 (in millions of dollars) Bills discounted 4 - 4 2 ;3ills bought — 1 U, S. Gov't securities,direct and guaranteed 22,,338844 - 15 -- 336644 Industrial advances(not including 7 million commitments - October 16) 3 - - 4 Other Reserve Bank credit 86 + 56 + 35 Total Reserve Bank credit 2,481 + 36 - 336 Crold stock 21,373 + 24 +4,376 Treasury currency 3,052 + 4 + 125 I*ember bank reserve balances 14,016 + 89 +2,109 Loney in circulation 8,229 + 30 + 899 Treasury cash 2,268 - 26 + 52 Treasury deposits with P. R. Banks 463 -116 + 114 'lonneraber deposits and other F. R. accounts 1,931 + 87 + 992 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R.283-a Released for publication Friday morning, October 18,1940; not earlier, STATEMENT OF CONDITION OF THE TUELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) increase or decrease since Oct. 16, Oct, 9, Oct. 18, 1940 1940 1939 A S S E TS Gold certificates on hand and due fromi .y, S. Treasury 19,077,299 + 44,999 +4,308,093 Redemption fund - F, R. notes 11,284 97 + 1,507 Other cash 326,661 + 7,314 - 5,722 Total reserves 19,415,244 + 52,216 +4,303,878 Bills discounted: Secured bv U. S. Gov*t obligations, direct and guaranteed 1,312 - 2,058 + 230 Othor bills discounted 2,425 - 2,190 2,116 Total bills discounted 3,737 — 4,248 - 1,886 Bills bought in open narket - — _ _ — 415 Industrial advances 88,,332255 75 - 33,,446622 U S. Government securities, # direct and guaranteed: Bonds 1,397,700 - 2,400 + 81,758 Notes 985,800 - 13,200 - 259,697 Bills - 186,820 Total U. S.Governnent securities. direct and guaranteed 2,383,500 - 15,600 - 364,759 Total bills and securities 2,395,562 - 19,923 - 370,522 Due from foreign banks 47 M* - 261 F. R. notes of other banks 21,552 + 979 - 1,633 Uncollected items 1,071,624 +382,540 + 269,048 Bank prenises 41,257 2 - 830 Other assets 53.676 - 1,217 14,987 - T O T AL A S S E TS 22,998,962 +414,593 +4,184,693 L I A B I L I T I ES F, R, notes in actual circulation 55,,550088,,442244 ++ 2299,,006600 + 775511,,996677 Deposits: Ivlenber bank - reserve account 14,015,812 + 88,798 +2,108,965 IJ. S # Treasurer - General account 462,610 -116,443 + 113,473 Foreign 1,057,344 •F 943 + 66gg,,66||99 Other deposits 603,002 +_ Total deposits 16,138,768 + 58,447 +3,184,539 deferred availability items 986,147 +327,023 + 233,897 Other liabilities including accrued dividends 2,658 216 - 277 T O T AL L I A B I L I T I ES 22,636,997 +414,314 +4,170,126 C A P I T AL A C C O U N TS Capital paid in 137,653 + 12 + 2,084 Surplus (Section 7) 151,720 - — + 2,568 Surplus (Section 13b) 26,839 — - 425 Other capital accounts 45,752 + 267 + 10,340 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,998,962 +414,593 +4,184,693 Ratio of total reserves to deposit and F. R. note liabilities conbined 89,7$ - .155 + 4,4% Contingent liability on bills purchased for foreign correspondents — — — 101 Corxuitments to make industrial advances 7,459 - 139 - 2,777 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) A S S E TS Total Boston Now York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 19,077,299 1,169,682 9,189,346 967,344 1,257,359 516,393 357,555 3,062,281 478,094 295,532 408,432 269,410 1,105,871 Redemption fund - F.R.notes 11,284 1,606 1,522 706 676 1,663 894 1,339 296 348 53-3 594 1,102 Other cash 326,661 33,005 83,905 26,995 21,201 21,534 17,217 38,298 14,318 6,997 1G,G90 12,490 31,811 Total reserves 19,415,244 1,204,293 9,274,773 995,045 1,279,236 539,590 375,666 3,101,918 492,708 302,877 4-27,S60 282,494 1,138,784 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 1,312 596 114 l4l 40 2 57 99 112 126 25 Other bills discounted 2,425 1,024 173 82 2.2 142 92 86 115 394 209 86 Total bills discounted 3,737 1,620 287 223 62 144 149 86 2.14 506 335 111 Industrial advances 8,325 1,060 1,781 2,410 365 821 260 269 5 265 214 252 623 U. S. Government securities, direct and guaranteed* Bonds 1,397,700 99,913 422,093 117,487 140,242 72,493 53,105 157,963 58,875 39,024 66,531 53,317 116,657 Notes 985,800 70,470 297,703 82,862 98,914 51,131 37,457 111,411 41,524 27,522 46,924 37,604 82,278 direct and guaranteed 2,383,500 170,383 719,796 200,349 239,156 123,624 90,562 269,374 100,399 f A Total bills and securities 2,395,562 171,443 723,197 203,046 239,744 124,507 90,966 269,792 100,490 67,025 }14,175 91,5; 199,669 4 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 F. R. notes of other banks 21,552 668 2,515 870 1,622 2,558 2,315 2,618 1,858 651 1,657 520 3,700 Uncollected items 1,071,624 99,893 263,221 81,406 130,448 85,331 44,249 152,288 58,703 24,059 43,120 40,090 48,816 Bank premises 41,257 2,847 9,750 4,488 5,436 2,487 2,002 3,358 2,423 1,374 3,097 1,120 2,875 Other assets 53,676 3,604 15,586 4,456 5,855 3,093 1,949 5,620 2,102 1,520 2,394 2,752 4,745 T O T AL A S S E TS 22,998,962 1,482,751 10,289,060 1,289,316 1,662,345 757,568 517,149 3,535,600 658,285 397,506 592,304 418,485 1,398,593 *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 ON OCTOBER 16, 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 5,508,424 448,096 1,470,994 378,036 501,838 256,728 177,919 1,180,434 205,654 151,934 197,533 89,278 449,980 Deposits s Member bank-reserve acct. 14,015,812 831,071 7,322,900 681,472 895,250 340,442 228,156 1,934,661 327,493 167,724 285,564 225,515 775,564 U.S.Treasurer-General acct. 462,610 24,455 146,919 21,250 31,838 26,571 24,625 48,898 26,423 25,832 30,113 28,930 26,756 Foreign 1,057,344 51,192 576,971 73,400 69,655 32,206 26,214 89,878 22,469 16,478 21,721 22,'<69 54,691 Other deposits 803,602 7,409 4l7?684 26,361 8,559 3,320 6,158 92,121 8,723 4,172 4,710 1,986 21,799 Total deposits 16,138,768 -,,914,127 8,464,474 802,483 1,005,302 402,539 285,153 2,165,558 385,108 2.14,206 342,108 278,900 878,810 Deferred availability items 986,147 95,146 227,670 75,007 120,780 82,515 40,792 143,197 56,081 21,854 41,806 38,638 42,661 Other liabilities including accrued dividends 3,658 413 1,003 369 413 113 159 394 120 153 145 128 248 TOTAL LIABILITIES 22,636,997 1,, 457,782 10,164,141 1, 255,895 1, 628,333 741,895 504,023 3, 489,583 646,963 388,147 581,592 406,944 1, 371,699 C A P I T AL A C CO U IJ T S Capital paid in 137,653 9,333 51,052 11,881 14,068 5,338 4,677 13,952 4,162 2,953 4,423 4,158 11,656 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 45,753 2,357 13,4-32 2,949 4,614 ;,842 2,011 7,812 1,913 2,253 1,534 2,143 2,893 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,998,962 1,482,751 10,289,060 1,289,316 1,662,345 757,568 517,149 3,535,600 658,285 397,506 592,304 418,485 1,398,593 Commitments to make industrial advances 7,459 267 722 1,038 960 612 509 14 416 50 136 2,731 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 Yerrs 5 Years Bills discounted 3,737 1,941 180 612 735 252 17 Industrie advanceg 8,325 1,412 196 199 445 796 1,364 1,407 2,506 U. S. Government securities, direct and guaranteed 2,383,500 99,800 115,300 194,000 . 69S,$00 1,275,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE KOTE STATELIEST Oil OCTOBER 16, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Llinn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 5,785,779 462,044 1,545,180 397,366 524,346 268,674 192,626 1,210,275 216,551 156,851 204,430 96,113 511,323 Held by Federal Reserve Bank 277,355 13,948 74,186 19,330 22,508 11,946 14,707 29,841 10,897 4,917 6,897 6,835 61,343 In actual circulation 5,508,424 448,096 1,470,994 378,036 501,838' 256,728 177,919 1,180,434 205,654 151,934 3.97,533 89,278 449,980 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,878,000 470,000 1,565,000 400,000 528,000 290,000 195,000 1,230,000 219,000 157,500 210,000 99,500 52.4,000 Eligible paper 2,195 - - 1,197 236 40 - - 70 175 477 - - — Total collateral 5,880,195 470,000 1,566,197 400,236 528,000 290,040 195,000 1,230,000 219,070 157,675 210,477 99,500 524,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis