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, Nov. 29$ of the Federal Reserve System not earlier. November 2G, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended November 27 member bank reserve balances increased $165,000,000® Additions to member bank reserves arose from decreases of $111,000,000 in Treasury deposits with Federal Reserve Banks, $62,000,000 in nonmember deposits and other Federal Reserve accounts and $6,000,000 in Treasury cash, and increases of $39,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by a decrease of $2.6,000,000 in Reserve Bank credit and an increase of $29,000,000 in money in circulation. Excess reserves of member banks on November 27 were estimated to be approximately $6,930,000,000, an increase of $130,000,000 for the week. The principal change in holdings of bills and securities was a reduction of $27,000,000 in United States Government securities, direct and guaranteed: holdings of bonds decreased $15,000,000 and of notes $12,000,000. Changes in member bank reserve balances and related items during the week and the year ended November 27, 1940, were as follows: Increase or decrease since Nov. 27, Nov. 20, Nov. 29, 1940 1940 1939 (In millions of dollars) Bills discounted 4- - A U. S. Govlt securities,direct and guaranteed 2,204 - 27 - 3A8 Industrial advances (not including 7 million:. commitments - November 27 8 3 Other Reserve Bank credit 6l + 27 Total Reserve Bank credit 2,276 - 26 - 329 Gold stock 21,755 + 39 +4-, 408 Treasury currency 3,069 + 3 + 122 Member bank reserve balances 14-,292 + 165 +2,672 Uoncy in circulation 8,465 + 29 +1,003 Treasury cash 2,182 - 6 - 177 Treasury deposits with F. R. Banks 199 - 111 - 24-2 Nomiomber deposits and other F. R. accounts 1,9^3 - 62 + 946 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F.R.283-a Released for publication Friday morning, November 29,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COLIBINED (In thousands of dollars) Increase or decrease since Nov. 27, Nov* 20, Nov. 29, 1940 1940 1939 A S S E TS Gold certificates on hand and due fron U. S. Treasury 19,546,295 + 54,496 +4,580,174 Redemption fund - F. R. notes 11,153 + 481 + 1,287 Other cash 298,738 - 5*950 - 22,028 Total reserves 19,856,186 + 49,027 +4,559,433 Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,209 + 2 - 608 Other bills discounted 2,626 - 273 - 3*583 Total bills discounted 3,835 - 271 - 4,191 Industrial advances 7,616 - 296 3,777 U. S. Government securities, direct and guaranteed 1 Bonds 1,299,700 - 15,000 + 16,253 Notes 904,500 - 12,100 - 328,725 Bills 35*425 Total U. S. Government securities, direct and ,r;Uoranteed 2,204,200 27,100 — 347,897 Total bills and securities 2,215,651 - 27,667 - 355,865 Due fron foreign banks 47 P. R. notes*of other banks 23,608 + 1,930 + 2,880 Uncollected itens 788,713 - 87,919 + 110,670 Bank premises 41,2.48 26 768 - - Other assets 55,851 + 477 — 15,619 T O T AL A S S E TS 22,981,304 - 64,178 +4,300,731 L I A B I L I T I ES F. R. notes in actual circulation 55,,770033,,112299 + 33,387 + 857,837 Deposits: Member bank - reserve account 14,291,954 +165,235 +2,672,205 U. S. Treasurer - General, account 198,606 -110,971 242,343 Foreign 1,153,293 + 714 + 746,019 Other deposits 532,137 - 64,034 + 163,780 Total deposits 16,175,990 - 9,056 +3,339,661 Deferred availability items 772277,,995577 - 90,189 + 8833,,664477 Other liabilities including accrued dividends 5 9 088 + 432 - 892 T O T AL L I A B I L I T I ES 22,612,164 - 65,42.6 +4,280,253 C A P I T AL A C C O U N TS Capital paid in 137,775 + 25 + 2,840 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 — - 425 Other capital accounts 52,806 + 1,223 + 15,495 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,981,304 - 64,178 +4,300,731 Ratio of total reserves to deposit and oc/ F. R. note liabilities combined 90.8$ + • fij/o + A. 3% Commitments to make industrial advances 7,106 - 8 - 2,537 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) A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Knns.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 19,546,295 1,131,790 9,579,636 1,018,609 1,322,182 527,048 366,014 2,983,223 503,239 295,048 395,700 2.67,761 1,156,045 Redemption fund - F.R.notes 11,153 1,390 1,716 .373 884 1,971 742 987 227 377 462 550 1,474 Other cash 298,738 27,473 68,268 2Q,428 19,636 23,144 19,995 35,906 15,725 6,645 18,422 11,422 31,674 Total reserves 19,856,186 1,160,653 9,649,620 1,039,410 1,342,702 552,163 386,751 3,020,116 519,191 302,070 414,584 279,733 1,189,193 Bills discountedJ direct and guaranteed 1,209 75 384 279 140 30 2 32 15 203 45 4 Other bills discounted 2,626 492 237 144 71 35 205 95 199 982 71 95 Total bills discounted CO 75 876 516 284 101 37 237 110 402 1,027 75 95 Industrial advances 7,616 999 1,784 2,114 316 785 311 265 5 267 87 82 601 U. S. Government securities, diredt and guaranteed? Bonds 1,299,700 93,253 384,956 108,941 130,188 68,800 49,806 148,213 56,006 36,959 63,498 50,431 108,649 Notes 904,500 64,899 267,903 75,814 90,601 47,879 34,661 103,145 38,977 25,721 44,192 35,096 75,612 Total U. S. Gov't securities, direct and guaranteed 2,204,200 158,152 652,859 184,755 220,789 116,679 84,467 251,358 94,983 62,680 107,690 85,527 184,261 Total bills and securities 2,215,651 159,226 655,519 187,385 221,389 117,565 84,815 251,860 95,098 63,349 108,804 35,684 184,957 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 23,608 547 2,858 1,143 1,268 3,905 2,375 3,252 2,203 1,387 1,835 527 2,308 Uncollected items 788,713 69,957 180,820 54,514 104,083 67,635 34,457 103,432 46,799 19,709 30,378 30,343 46,586 Bank premises 41,248 2,838 9,731 4,495 5,412 2,581 1,995 3,343 2,428 1,372 3,081 1,114 2,858 Other assets 55,851 3,720 16,067 4,690 6,025 3,248 2,032 5,917 2,220 1,603 2,541 2,885 4,903 T O T AL A S S E TS 22,981,304 1,396,944 10,514,633 1,291,642 1,680,883 747,099 512,427 3,387,926 667,940 389,490 561,224 400,287 1,430,809 *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 BAMS Oil NOVEMBER 27, 1940 (In thousands of do11 oxs) L I A B I L I T I ES Total Boston Hew lork Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy*. Dallas San Fran. F. R. notes in actual circulation 5,703,129 462,516 1,516,124 397,710 523,349 268,083 184,803 1,214,508 2.12,216 155,165 203,833 93,456 471,366 Deposits! Member bank—reserve acct. 14,291,954 765,255 7,600,232 698,576 931,502 349,533 232,648 1,893,481 351,838 174,553 274,628 231,064 788,644 U.S.Treasurer-General acct. 198,606 14,145 46,830 7,494 11,705 10, Ul 15,898 30,195 14,357 11,368 9,265 9,949 17,259 Foreign 1,153,293 53,114 656,995 75,795 71,928 33,257 27,070 92,810 23,203 17,015 22,429 23,203 • 56,474 Other deposits 409,730 14,225 4,653 7,186 6,475 7,080 4,722. 9,546 2,565 30,808 Total deposits 16,175,990 839,809 8,713,787 809,717 1,029,360 397,584 282,802 2,022,961 396,478 207,658 315,868 266,781 893,185 Deferred availability items 727,957 68,671 156,204 49,577 92,868 65,199 31,206 103,034 47,469 16,914 30,2.57 28,057 30,501 Other liabilities including accrued dividends 5,038 475 1,445 589 564 192 212 600 133 170 204- 181 323 TOTAL LIABILITIES 2.2,6121^471 10,387,560 1,257,593 1,646,141 731,058 499,023 3,34-1,103 656,296 379,907 550,162 308,475 1,403,375 C A P I T AL A C C O U N TS Capital paid in 137,775 9,337 51,079 n,889 14,099 5,354 4,678 14,003 4,172 2,972 4,423 4,164 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 10,22.4 Surplus (Section 13b) 26,839 2,874 7,109 4,393 1,007 3,246 713 53S 1,001 1,142 1,266 2,121 Other capital accounts 52,806 2,857 15,559 3,569 5,313 2,194 2,288 0,567 2,225 2,458 1,884 2,408 3,484 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,981j3>43,396,944 10,514,633 1,291,642 1,680,883 747,099 512,427 3,3-7,926 667,940 3-29,490 561,224 400,287 1,430,809 Commitments to make industrial advances 7,106 24-9 713 1,008 863 568 506 23 405 51 120 4 2,596 MATURITY DISTRIBUTION OF BILLS AtlD SECURITIES Within 16 to 31 to 6l to 91 days to 6 nonths 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 Bills discounted 3,335 1,690 366 705 2.59 731 84 2,208 Industrial advances 7,616 1,2.44 186 490 103 610 1,356 1,419 U. S. Government securities, direct and guaranteed 2,204,200 79,800 115,300 194,000 635,500 1,179,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE NOTE ST/.TEaENT OIL NOVEMBER 27, 1940 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis ilinn. Eans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 5,996,665 477,854 1,588,693 418,612 543,397 282,796 206,165 1,244-,960 225,171 160,809 212,496 103,084 532,628 Held by Federal Reserve Bank 293,535 15,338 72,569 20,902 20,048 14,713 21,362 30,^52 12,955 5,644 8,663 9,628 61,262 ,ln actual circulation 5,703,129 462,516 1,516,124 397,710 523,349 26-8,083 184,803 1,214,508 212,216 155,165 203,833 93,456 471,366 Collateral held by agent as security for notes issued to "bank: Gold certificates on hand and due fron U.S. Treasury 6,095,500 490,000 1,610,000 420,000 545,000 300,000 210,000 1,260,000 234,000 161,500 215,000 106,000 544,000 Eligible paper 2,458 75 5U 423 - - 65 - - - - 85 327 969 To^a collateral 6,097,958 490,075 1,610,514 420,423 545,000 300,065 210,000 1,260,000 234,085 161,827 215,969 106,000 544,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis