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. 25? of the Federal Reserve System not earlier. October 24, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 23 member bank reserve balances increased $132,000,000® Additions to member bank reserves arose from decreases of ,000,000 in Treasury cash, $80,000,000 in Treasury deposits with Federal Reserve Banks, and $59,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $55,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by a decrease of $93,000,000 in Reserve Bank credit and an increase of $7,000,000 in money in circulation. Excess reserves of menber banks on October 23 were estimated to be approximately$6 940,000,000, an increase of $70,000,000 ? for the week. The principal change in holdings of bills and securities was a reduction of $32,000,000 in United States Government securities, direct and guaranteed: holdings of bonds decreased $12,000,000 and of notes $20,000,000. Changes in member bank reserve balances and related items during the week and the year ended October 23, ly40, were as follows: Increase or decrease since Oct. 23, Oct. 16, Oct. 25, 1940 1940 1939 (in millions of dollars) Bills discounted 4 - 2 U. S. Gov't securities,direct and guaranteed - - 384 2,352 Industrial advances(not including 7 million commitments - October 23) - 4 8 Other Reserve Bank credit 24 62 + 6 Total Reserve Bank credit 2,388 - 93 - 383 Gold stock 21,428 + 55 +4,389 Treasury currency 3,055 + 3 + 126 Llember bank reserve balances 14,148 + 132 +2,198 Uoney in circulation 8,236 + 7 + 934 Treasury cash 2,232 - 36 + 2 Treasury deposits with F. R. Banks 383 - 80 + 57 Nonmember deposits and other F. R. accounts 1,872 - 59 + 940 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Released for publication Friday morning, October 25,1940; not earlier® STATEMENT OF OOIIDITIOH OF THE TWELV3 FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Oct. 23, Oct. 16, Oct. 25, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 19,167,300 + 90,001 +4,363,090 Redemption fund - F. R. notes 10,074 - 1,210 + 1,148 Other cash 335,574 + 8,913 8,707 Total reserves 19,512,948 + 97,704 +4,355,531 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 992 320 1 Other bills discounted 2,533 + 108 2,225 Total bills discounted 3,525 2.12 2,226 Industrial advances 8,305 20 3,458 U. S. Government securities, direct and guaranteed* Bonds 1,386,100 - 11,600 + 70,158 Notes 965,300 - 20,000 - 279,69? Bills - 174,320 Total U, 3. Government securities, direct and guaranteed 2,351,900 - 31,600 - 383,859 Total bills and securities 2,363,730 - 31,832 - 389,543 Due from foreign banks 47 F. R. notes of other banks 22,233 + 681 1,152 Uncollected items 760,247 -311,377 + 97,990 Bank premises 41,348 + 91 760 Other assets 54,189 + 513 - 15,247 T O T AL A S S E TS 22,754,742 -244,220 +4,046,819 L I A B I L I T I ES F. R, notes in actual circulation 5,520,271 + 11,847 + 776,554 Deposits: Member bank - reserve account 14,147,775 +131,963 +2,197,329 U, S. Treasurer - General account 383,052 - 79,558 + 57,049 Foreign 1,071,443 + 14,099 + 652,545 Other deposits 528,776 - 74,226 + 255,9.:-' Total deposits 16,131,046 - 7,722 +3,162,8°5 >oferred availability items 736,357 -249,790 + 92,269 Other liabilities including accrued dividends 4,147 + 489 T O T AL L I A B I L I T I ES 22,391,821 -245,176 +4,031,648 C A P I T AL A C C O U N TS Capital paid in 137,638 15 + 2,081 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 425 Other capital accounts 46,724 + 971 + 10,947 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22 754,742 -244,220 +4,046,819 r Ratio of total reserves to deposit and F. R. note liabilities combined 90,156 + ,4p + 4.5$ Contingent liability on bills purchased for foreign correspondents — — 101 Commitments to make industrial advances 7,422 37 2,734 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATELIELIT OF CONDITIO!! OF THE FEDERAL RESERVE BANKS 013 OCTOBER 23, 1940 (In thousands of dollars) A S S E TS Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 19,167,300 1,193,565 9,332,583 959,289 1,275,746 512,176 354,568 2,999,803 4-79,720 285,012 393,728 263,171 1,117,939 Redemption fund - F.R.notes 10^074 1,538 1,256 603 585 1,110 854 1,244 278 435 519 582 1,070 Other cash 335,574 33,4-91 92,280 26,921 20,889 19,643 16,355 42,593 14,065 7,036 17,561 12,685 32.055 Total reserves 19,512,948 1,228,594 9,426,119 986,813 1,297,220 532,929 371,777 3,043,640 494,063 292,483 4-11,808 276,438 1,151,064 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 992 20 81 184 166 40 2 57 15 118 122 127 60 Other bills discounted 2 ? 533 610 192 105 58 99 149 93 153 787 180 107 Total bills discounted 3 >525 20 691 376 271 98 101 2C6 108 271 909 307 167 Industrial advances 3,305 11,,005533 11,,778811 2,408 335555 820 260 267 55 268 221133 225522 662233 U. S. Government securities 9 direct and guaranteed: Bonds 1,386,100 99,145 417,262 116,456 139,040 72,137 52,740 156,886 58,608 38,818 66,266 53,024 115,718 Notes 965,800 69,082 290,737 81,145 96,880 50,263 36,748 109,314 40,836 27,046 46,172 36,946 80,631 Total U. S. Gov1t securities, direct and guaranteed 2,351,900 168,227 707,999 197,601 235,920 122,400 89,488 266,200 99,444 65,864 112,438 89,970 196,349 Total bins and securities 2,363,730 169,300 710,471 200,385 236,546 123,318 89,849 266,67.3 99,557 66,403 113,560 90,529 197,139 Due from foreign banks 47 3 18 5 4 22 6 1* 11 4 F. R. notes of other banks 22,233 682 2,352 1,033 1,646 2,615 1,971 2,727 2,580 1,094 1,991 656 2,886 Uncollected items 760,247 76,460 177,409 54,537 86,023 71,421 32,279 100,343 42,745 20,717 32,661 27,717 37,935 Bank premises 41,348 2,847 9,750 4,488 5,424 2,591 2,001 3,358 2,422 1,374 3,097 1,121 2,875 Other assets 54,189 3,651 15,682 4,484 5,883 3,1^7 1,971 5,756 2,123 1,537 2,416 2,776 4,783 T O T AL A S S E TS 22,754,742 1,481,537 10,341,801 1,251,745 1,632,746 736,003 499,850 3,422,503 643,491 383,608 565,534 399,238 1,396,686 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 2S3~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ONO CTOBER 23, 1940 (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Li inn. Kans.CyD.a llas San Fran. F. R. notes in actual circulation 5,520,271 449,002 1,470,529 378,875 505,211 257,582 178,715 1,183,734 206,777 152,308 197,983 89,965 449,590 Deposits: Member bank-reserve acct.14,147,775 853,388 7,446,887 672,573 895,164 334,544 224,704 1,952,483 329,948 164,584 275,909 222,038 775,553 U.S.Treasurer-General acct, 383,052 19,639 116,155 13,884 34,277 20,872 22,328 39,624 21,777 17,965 20,884 23,742 31,905 Foreign 1,071,443 51,794 589,211 73,615 69,859 32,301 26,291 90,141 22,535 16,526 21,7-34 22,535 54,851 Other deposits 528,776 7,653 430,932 25,309 8,331 3,526 3,194 8,648 7,521 4,075 4,628 1,952. 23,007 Total deposits 16,131,046 932,474 8,583,185 785,381 1,007,631 391,243 276,517 2,090,896 381,781 203,150 323,205 270,267 835,316 Deferred availability items 736,357 74,583 161,700 53,568 85,364 71,307 31,272 101,270 43,432 18,588 33,418 27,278 34,564 Other liabilities including accrued dividends 4,147 421 1,180 420 427 141 180 470 139 172 155 150 292 TOTAL LIABILITIES 22,391. C A P I T AL A C O OU II T S Capital paid in 137,,66338s 9,333 51,057 11,881 14,075 5,342 4,677 13,961 4,162 2,957 4,423 4,162 111,16,0680 8 Surplus (Section 7) 151.., 720 10,405 53,326 14,198 14,323 5,247 5,725 22,82.4 4,709 3,152 3,613 3,974 101,02,2242 4 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 46:,7 .24 2,440 13,715 3,029 4,708 1,895 2,051 7,911 1,953 2,280 1,595 2,176 2,971 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,754,742 1,481,537 10,341,801 1,251,745 1,632,746 736,003 499,850 3,422,503 643,491 383,608 565,534 399,238 1,396,686 Commitments to make industrial advances 7,422 263 722 11,,003388 996600 558877 550099 1U4 44ll66 5500 113366 44 2,723 MATURITY DISTRIBUTION OF BILLS AITD SECURITIES Within 16 to 31 to 61 to 91 days *•- 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 Years Bills discounted 3,525 1,166 271 904 728 385 71 Industrial advances 8,305 1,316 276 319 490 630 1,367 1,421 2,486 U.S. Government securities, direct and guaranteed 2,351,900 95,300 115,300 194,000 681,300 1,266,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE NOTE STATEMENT Oil OCTOBER 23, 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.ar;ent 5,814,154 468,210 1,551,225 395,361 529,382 269,281 193,782 1,216,182 218,085 156,995 206,026 99,827 509,798 Held by Federal Reserve Bank 293,883 19,208 80,696 16,486 24,171 11,699 15,067 32 U& 11,308 4,687 8.043 9,862 60,208 t In actual circulation 5,520,271 449,002 1,470,529 378,875 505,211 257,582 178,715 1,183,734 206,777 152,308 197,983 89,965 449,590 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due fron U. S. Treasury 5,930,500 490,000 1,575,000 400,000 532,000 290,000 200,000 1,230*000 219,000 157,500 210,000103,000 524,000 Eligible paper 1,842 20 362 301 - - . 65 - - - - 85 214 795 - - Total collateral 5,932,342 490,020 1,575,362 400,301 532,000 290,065 200,000 1,230,000 219,085 157,714 210,7953D3,000 524,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis