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, November 1; of the Federal Reserve System not earlier . October 31, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 30 member bank reserve balances increased $29,000,000. Additions to member bank reserves arose from decreases of $45,000,000 in Treasury cash and $7,000>000 in Treasury deposits with Federal Reserve Banks, and an increase of $71,000,000 in gold stock, offset in part by a decrease of $7,000,000 in Reserve Bank credit, and increases of $29,000,000 in money in circulation and $59,000,000 in nonmernber deposits and other Federal Reserve accounts. Excess reserves of member banks on October 30 were estimated to be approximately $6,930,000,000, a decrease of $10,000,000 for the week. The principal change in holdings of bills and securities was a reduction of $19,000,000 in United States Government securities, direct and guaranteed: holdings of bonds decreased $7,000,000 and of notes $12,000,000* Changes in member banK reserve balances and related items during the week and the year ended October 30, 1940, were as follows: Increase or decrease since Oct. 30, Oct. 23, Uov. 1, 1940 1940 1939 (In millions of dollars) Bills discounted 4 - 2 U S. Gov't securities,direct and guaranteed 2,333 - 19 - 388 # Industrial advances (not including 7 million commitments - October 30) 8 - 4 Other Reserve Bank credit 36 + 12 + 10 Total. Reserve Bank credit 2,381 7 - 384- Gold stock 2.1,4-99 + 71 +4,400 Treasury currency 3,056 + 1 + 124 Member bank reserve balances 14,177 + 29 +2,363 Money in circulation 8,265 + 29 + 913 Treasury cash 2,187 - 45 - 63 Treasury deposits with F R* Banks 376 7 + 27 c Konmembcr deposits mid other F. R. accounts 1,931 + 59 + 900 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R.283-a Released for publication Friday morning, Hovember 1,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Oct. 30, Oct. 23, Nov. 1, 1940 1940 1929 A S S E TS Gold certificates on hand and due from U. S. Treasury 19,280,299 +112,999 +4,441,093 Redemption fund - F. R.notes 10,073 1 + 1,227 Other cash 341,290 + 5,716 + 1,422 Total reserves 19,631,662 +118,714 +4,443,742 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,044 + 52 — 113366 Other bills discounted 2,955 + 422 — 2,11? Total bills discounted 3,999 + 474 - 2,249 Industrial advances 8,193 112 — 3,487 U. S. Government securities, direct and guaranteed! Bonds 1,379,200 - 6,900 + 63,258 Notes 953,600 - 12,200 291,897 Bills — - — — 159,380 Total U, S.Government securities, direct and guaranteed 2,332,800 - 19,100 — 388,019 Total bills and securities 2,344,992 - 18,738 - 393,755 Due from foreign banks 47 — — — — F. R,notes of other banks 19,754 - 2,479 - 2,379 Uncollected items 759,353 894 + 42,857 Bank premises 41,306 42 - 731 Other assets 55,534 + 1,345 — 13,958 T O T AL A S S E TS 22,852,648 + 97,906 +4,075,776 L I A B I L I T I ES F. R, notes in actual circulation 55,,554488,,887744 ++ 2288,,660033 + 776677,,448899 Depositsl Member bank - reserve account 14,176,535 + 28,760 +2,362,871 U. S. Treasurer - General account 375,707 - 7,345 + 26,677 Foreign 1,091,831 + 20,388 + 620,950 Other deposits 567,597 + 38,821 + 248,148 Total deposits 16,211,670 + 80,624 +3>258,646 Deferred availability items 772233,,664455 - 12,712 + 3333,,009988 Other liabilities including accrued dividends 5.057 + 910 + 779 T O T AL L I A B I L I T I ES 22,489,246 + 97,425 +4,060,012 C A P I T AL A C C O U N TS Capital paid in 137,678 + 40 + 2,098 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 - — - 425 Other capital accounts 47,165 + 441 + 11,523 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,852,648 + 97,906 +4,075,776 Ratio of total reserves to deposit and F« R. note liabilities combined 90.2$ + .1* + 4.6% Contingent liability on bills purchased for foreign correspondents — - ' 101 Commitments to make industrial advances 7,351 71 - 2,672 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 New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 19,280,299 1,187,333 9,479,470 982,638 1,285,354 518,914 350,991 2,960,934 475,708 287,783 386,657 264,363 1,099,654 Redemption fund - F.R.notes 10,073 1,537 1,256 603 585 1,110 854 1,244 278 435 519 582 1,070 Other cash 341,290 34,2.70 89,382 27,657 22,048 22,917 18,998 42,167 13,252 7,340 19,029 12,101 32,129 Total reserves 19,631,662 1,223,140 9,570,108 1,010,898 1,308,487 542,941 370,843 3,004,345 489,238 295,558 406,205 ,'277,046 1,132,853 Bills discounted* Secured by U S. Gov't obligations, 0 direct and guaranteed 1,044 50 37 229 166 40 2 48 15 178 117 127 35 Other bills discounted 2,955 — 891 231 104 34 64 188 94 199 913 129 108 Total bills discounted 3,999 50 928 460 270 74 66 236 109 377 1,030 256 143 Industrial, advances 8,193 11,,003311 11,,777799 2,403 326 820 252 267 5 264 212 222 612 U. S„ Government securities9 direct and guaranteed: Bonds 1,379,200 98,688 414,369 115,843 I38,324 71,928 52,522 156,248 58,452 38,698 66,113 52,853 115,162 Notes 953,600 68,236 286,500 80,097 95,639 49,732 36,316 103,032 40,415 26,755 45,711 36,543 79,624 Total Uc S. Gov't securities , divuevb and guaranteed'. 2,332,800 166,924 700,869 195,940 233,963 121,660 88,838 264; 280 98,867 65,453 111,824 89,396 119944,,778866 Total bills and securities 2,344,992 168,005 703,576 198,803 234,559 12,2,554 89,156 2.64,783 98,981 66,094 113,066 89,874 195,541 Die from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 19,754 521 1,904 1,055 1,361 2,372 1,909 2,472 1,301 1,612 i,4o4 522 3,321 Uncollected items 759,353 75,838 175,/; 26 52.721 94,523 60,48Q 30,177 108,4-80 39,480 19,468 34,177 25,467 43,107 Bank premises 41,306 2,843 9, 750 4,477 5 >425 2,552 1,998 3,342 2,420 1,374 3,097 1,121 2,867 Other assets 55,534 3,659 15,993 5,183 5,947 3,139 1,999 5,778 2,135 1,553 2,487 2,779 4,832 T O T AL A S S E TS 22,852,648 1,474,009 10,476,775 1,273,142 1,650,306 734,139 496,084 3,389,206 633,556 3^5,659 560,437 396,810 1,382,525 *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) 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 5,548,874 449,210 1,480,643 379,919 505,221 262,075 180,321 1,187,409 208,503 152,945 199,479 9-1,079 452,070 Deposits t Member bank-reserve acct, 14,176,535 846,492 7,532,750 686,763 910,401 336,488 222,536 1,897,180 323,735 168,459 268,157 224,366 759,208 U.S.Treasurer-Genera], acct. 375,707 19,664 109,286 11,978 34,021 23,753 19,718 51,791 19,992 16,459 23,095 20,608 25,342 Foreign 1,091,831 51,119 610,248 73,615 69,859 32,301 26,291 90,141 22,535 16,526 21,784 22,535 54,877 Other deposits 567,597 8,715 458,172 34,326 8,378 3,877 4,728 7,092 7,495 4,291 4,826 2,364 23,333 Total deposits 16,211,670 925,990 8,710,456 806,682 1,022,659 396,419 273,273 2,046,204 373,757 205,735 317,862 269,873 862,760 Deferred availability items 723,645 73,298 159,019 51,954 87,772 59,727 29,131 108,899 39,750 17,425 32,124 24,091 40,455 Other liabilities including accrued dividends 5,057 435 1,273 1,045 497 165 176 518 162 153 182 173 278 TOTAL LIABILITIES 22,489,246 1,448,933 10,351,391 1,239,600 1,616,149 718,386 482,901 3,343,030 622,172 376,258 549,647 385,216 1,355,563 C A P I T AL A C C O U N TS Capital paid in 137,678 9,337 51,085 11,881 14,075 5,347 4,677 13,963 4,166 2,957 4,422 4,l6o 11,608 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 47,165 2,460 13,864 3,070 4,752 1,913 2,068 7,960 1,971 2,291 1,613 2,194 3,009 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,852,648 1,474,009 10,476,775 1,273,142 1,650,306 734,139 496,084 3,389,206 633,556 385,659 560,437 396,810 1,382,525 Commitments to make industrial advances 7,351 262 721 1,012 948 586 50* 1M 401 50 128 4 2,717 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 3,999 1,444 264 1,022 746 431 92 Industrial advances 8,193 1,313 257 343 473 574 1,354 1,410 2,469 U. S. Government securities, direct and guaranteed 2,332,800 95,300 115,300 194,000 669,100 1,259,100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 30, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran. Federal Reserve notesl Issued to F.R.Bank by F.R.agent 5,837,873 472,678 1,559,074 400,314 527,130 275,121 195,395 1,218,058 219,505 157,606 207,770 99,160 506,062 Held by Federal Reserve Bank 288,999 23,468 78,431 20,395 21,909 13,046 15,074 30,649 11,002 4,661 8,291 8,081 53,992 In actual circulation 5,548,874 449,210 1,480,643 379,919 505,221 262,075 180,321 1,187,409 208,503 152,945 3,99,479 91,079 452,070 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U. S. Treasury 5,946,500 490,000 1,575,000 410,000 532,000 290,000 .200,000 1,230,000 2.24,000 158,500 210,000 103,000 524,000 Eligible paper 2,342 50 587 382 - - 40 - - - - 85 282 916 Total collateral 5,948,842 490,050 1,575,587 410,382 532,000 290,040 200,000 1,230,000 224,085 158,782 ,210,916 103,000 524,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis