H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form p. R. 283 STATEMENT FDR THE PRESS Released for publication Board of Governors Saturday morning, Nov. 23; of the Federal Reserve System not earlier• November 22, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 20 member bank reserve balances increased $75,000,000 Additions to member bank reserves arose from decreases of $94,000,000 # in Treasury deposits with Federal Reserve Banks and $23,000,000 in Treasury cash, and increases of $79,000,000 in gold stock and $4,000,000 in Treasury currency, offset in part by increases of $41,000,000 in money in circulation and $62,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $24,000,000 in Reserve Bank credit. Excess reserves of member banks on November 20 were estimated to be approximately $6,800,000,000, unchanged for the week. The principal change in holdings of bills and securities was a reduction of $23,000,000 in United States Government securities, direct and guaranteed; holdings of bonds decreased $15,000,000 and of notes $8,000,000. Changes in member bank reserve balances and related items during the week and the year ended November 20, 1940, were as follows! Increase or decrease since Nov. 20, Nov. 13, Nov. 22, 1940- 1940 1939 (In millions of dollars) Bills discounted 4 - - - 4 U. S. Gov!t securities,direct and guaranteed 22,,223311 - 23 - 362 Industrial advances (not including 7 million commitments - November 20) 8 4 - - Other Reserve Bank credit 59 - - + 27 Total Reserve Bank credit 2,302 2.4 - 343 Gold stock 21,716 + 79 +4,459 Treasury currency 3 >066 4 + 124 Member bank reserve balances 14,127 + 75 +2,508 Money in circulation 8,436 •f 41 +1,002 Treasury cash 2,188 - 23 - 169 Treasury deposits with F. R. Banks 310 94 - 156 - Nonmember deposits and other F. R. accounts 2,025 + 62 +1,057 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R.283~a Released for publication Saturday morning, November 23,1940$ not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Nov, 20, Nov. 13, Nov. 22, 194-0 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 19,4-91,799 + 98•001 +4,620,144 Redemption fund - F. R. notes 10,672 778 + 1,258 Other cash 304,688 — 3,430 - 26,243 Total reserves 19,807,159 + 95,299 +4,595,159 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,207 + 256 - 333 Other bills discounted 2,899 - 394 - 3*549 Total bills discounted 4,106 - 138 - 3,882 Industrial- advances 77,,991122 — 303 — 33,,665566 U. S. Government securities, direct and guaranteed: Bonds 1,314,700 - 15,300 + 31,253 Notes 916,600 - 7,500 - 316,625 Bills - - — - 76,705 Total U. S, Government securities, direct and guaranteed 2,231,300 — 22,800 — 362,077 Total bills and securities 2,243,318 23,241 - 369,615 Due from foreign banks 47 - — F. R.notes of other banks 21,678 - 2,106 + 232 Uncollected items 876,632 - 66,337 + 184,314 Bank premises 41,274 777 - Other assets 55,374 + 229 — 15,022 T O T AL A S S E TS 23,045,482 3,844 +<4,394,291 L I A B I L I T I ES F, R. notes in actual circulation 55,,666699,,774422 + 27,042 + 884433,,778899 Deposits: Member bank - reserve account 14,126,719 + 74,921 +2,507,531 U. S. Treasurer - General account 309,577 94,274 156,410 - Foreign 1,152,579 + 27,429 + 749,330 Other deposits 596,171 33„435 + 272,916 Total deposits 16,185,046 41,511 +3,373,367 Deferred availability items 881188,,114466 — 6655,,556644 + 115588,,006655 Other liabilities including accrued dividends 4,656 - 279 - 192 T O T AL L I A B I L I T I ES 22,677,590 + 2,710 +4,375,029 C A P I T AL A J C O U N TS Capita], paid in 137,750 31 + 2,831 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,839 425 - Other capital accounts 51,582 + 1,103 + 14,288 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,045,482 + 3,844 +4,394,291 Ratio of total reserves to deposit and F. R. note liabilities combined 90*6% + no? + 4.4% Commitments to make industrial advances 7,114 - 155 - 2,686 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 BAMKS ON NOVEMBER 20, 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 19,491,799 1*143,394 9,552,555 1,032,627 1,314,374 524,277 366,530 2,952,598 496,660 295,864 402,291 272,176 1,138,453 Redemption fund - F.R.notes 10,672 1,394 1,716 373 388 1,971 741 993 229 378 464 551 1,474 Other cash 304,638 31,306 71,148 23,595 24,274 22,551 15,973 j co | 1 14,599 7,091 17,435 12,218 28,644 Total reserves 19.807^1TO 1,176,09A 9,625,419 1, 056,595 1,339,036 548,799 383,244 2,989,445 511,488 303,333 420,190 284,945 1,168,571 Bills discounted: Secured by U. S. GovTt obligations, direct and guaranteed 1,207 75 324 232 140 130 2 15 45 178 62 4 Other bills discounted 2,899 ~ — 476 239 136 71 36 215 83 203 1,266 70 104 Total bills discounted 4-106 75 800 471 276 201 38 230 128 381 1,328 74 104 Industrial advances 7,912 11,,000033 11,,777744 22,,111155 332299 800 311 266 5 268 212 221 608 U. S. Government securities, direct and guaranteed: Bonds 1,314,700 94,273 390,632 110,248 131,727 69,366 50,313 149,707 56,446 37,275 63,965 50,873 109,875 Notes 916,600 65,728 272,344 76,864 91,839 48,362 35,076 104,374 39,355 25,989 44,596 35,469 76,604 Total U. S. Gov't securities, direct and guaranteed 2,231,300 160,001 662,976 187,112 223,566 117,728 85,389 254,081 95,801 63,264 108,561 86,342 186,479 Total bills and securities 2,243,318 161,079 665,550 189,698 224,171 118,729 85,738 254,577 95,934 63,913 110,101 86,637 187,191 Due from foreign banks 47 3 5 4 22 6 1 * 11 4 F. R. notes of other banks 21,678 588 2,441 1,156 1,376 3,082 2,762 2,933 2.922 898 1,217 569 1,734 Uncollected items 876,632 83,936 214,056 64,874 97,562 72,796 35,879 116,025 53',022 22,311 34,665 32,517 48,989 Bank premises 41,274 2,843 9,731 4,492 5,412 2,590 1,998 3,343 2,431 1,372 3,081 1,114 2,867 Other assets 55,374 3,718 15,922 4,571 5,973 3,207 2,022 5,879 2,217 1,586 2,524 2,863 4,892 O T AL A S S E TS 23,045,482 1,428,261 10,533,137 1,32L,391 1,673,534 749,205 511,645 3,372,208 668,015 393,413 571,779 408,646 1,414,248 *Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-b STATELIEST OF COLIDITIOLI OF THE FEDERAL RESERVE BANKS OK NOVEMBER 27, 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. Knns.Cy. Dallas San Fran. F. R. notes in actual circulation 5,669,742 455,675 1,509,562 391,573 . 516,614 266,332 184,232 1,21.2,887 211,846 155,073 203,206 93,127 469,615 Deposits! Member bank-reserve acct, 14,126,719 781,905 7,476,417 700,558 925,451 346,190 225,384 1,872,679 338,175 172,242. 276,306 231,003 780,409 U.S.Treasurer-General acct. 309,577 23,179 100,350 26,011 17,158 11,019 20,625 25,692 22,968 15,484 16,510 15,057 15,524 Foreign 1,152,579 52,906 659,350 75,305 71,463 33,042 26,895 92,210 23,053 16,905 22,284 23,052 56,114 Other deposits 596,171 7,053 477,554 30,901 14,094 4,027 6,211 8,171 7,252 4,759 9,296 3.203 23.,650 Total deposits 16,185,046 865,043 = ,713,671 832,775 1,028,166 394,278 279,115 1,998,752 391,448 209,390 324,396 272,315 875,697 Deferred availability items 818,146 81,666 181,814 62,646 93,642 72,446 34,738 113,352 53,013 19,262 32,999 31,282 41,286 Other liabilities including accrued dividends 4,656 477 1,387 455 458 161 204 J>29 150 152 173 160 __32Q_ •i'OTAL LIABILITIES 22,677,590 1,402,861 10,406,4^4 1,287,44+9 1,638,910 733,217 498,289 3,325,520 656,457 383,877 560,774 396,884 1,386,918 C AP IT A L A C (J:*) U N T S Capital paid in 137,750 9,337 51,077 11,889 14,009 5,352 4,680 13,997 4,172 2,959 4,423 4,l6o 11,605 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 3,2.46 713 1,429 538 1,001 1,142 1,266 2,121 Other capital accounts 51,583 2,784 15,191 3,462 5,195 2,143 8,438 2,139 424 :,362 3,380 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,045,482 1,428,261 10,533,137 1,321,391 1,673,534 749,205 511,645 3,372,208 668,015 393,413 571,779 408,646 1,414,248 Commitments to make industrial advances 7,114 251 713 1,010 857 568 508 23 405 50 128 4 2,597 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 Yeas to 2 Years 5 Years 5 Years Bills discounted 4,106 933 1,188 730 316 831 108 Industrial advances 7,912 1,399 188 573 165 609 1,349 1,419 2,210 U. S. Government securities, direct ana guaranteed 2,231,300 90,900 115,300 194,000 636,500 1,194,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE EOTE STATEMENT ON IJOVSLKER 20. 1940 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ksus.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 5,962,586 472,987 1,581,483 412,276 542,180 279,050 203,573 1,240,94-3 226,135 159,605 212,532 102,012 529,810 Held by Federal Reserve cank 292,844 17,312 71,921 20,703 2.5,566 12,718 19,341 28,056 14,289 4,532 9,326 8,885 60,195 In actual circulation 5,669,742 455,675 1,509,562 391,573 5l6,6l4 266,332 184,232 l,212,8t:7 211,846 155,073 203,206 93,127 469,615 Collateral held by agent as security for notes issued to brink t Gold certificates on hand and due from U. S. Treasury 6,070,500 490,000 1,600,000 420,000 545,000 290,000 205,000 1,260,000 2-34,000 161,500 215,000 106,000 544,000 Eligible: paper 2,719 75 438 378 - - 165 - - - - 103 306 1,254 - - Total collateral 6,073,219 490,075 1,600,438 420,378 545,000 290,165 205,000 1,260,000 234,103 161,806 216,254 106,000 544,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis