H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form f. R. 28? STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Dec. 6; of the Federal Reserve System not earlier. December 5, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 4 member bank reserve balances decreased $138,000,000. Reductions in member bank reserves arose from increases of $104,000,000 in money in circulation, $56,000,000 in Treasury deposits with Federal Reserve Banks, $22,000,000 in Treasury cash, and $23,000,000 in nonnember deposits and other Federal Reserve accounts, and a decrease of $10,000,000 in Reserve Bank credit, offset in part by increases of $72,000,000 in gold stock and $5,000,000 in Treasury currency. Excess reserves of member banks on December 4 v/ere estimated to be approximately $6,820,000,000, a decrease of $110,000-000 for the week. The principal change in holdings of bills and securities was a reduction of $9,000,000 in United States Government securities, direct and guaranteed: holdings of bonds decreased $4,000,000 and of notes 35,000,000. Changes in member bank reserve balances and related items during the week and the year ended December 4, 1940, were as follows! Increase or decrease since Dec. 4, Nov. 27, Dec. 6, 1940 1940 1939 (In millions of dollars) Bills discounted 4 4 U. S.Gov't securities,direct and guaranteed 2,195 - 9 - 317 Industrial advances (not including 7 million commitments - December 4) 8 3 Other Reserve Bank credit 59 - 2 + 23 Total Reserve Bank credit 2,266 - 10 - 302 Gold stock 21,827 + 72 +4,419 Treasury currency 3,074 + 5 + 125 Member bank reserve balances 14,154 -138 +2,537 Money in circulation 8,569 +104 +1,024 Treasury cash 2,204 + 22 - 187 Treasury deposits with F. R. Banks 255 + 56 - 91 Nonraember deposits and other F.R. accounts 1,986 + 23 + 960 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283~a -Released for publication Friday morning, December 6,1940; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Dec. 4, Nov. 27, Dec, 6, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury 19,594,780 + 48,485 +4,608,658 Redemption fund - F. R. notes 11,515 362 + 1,649 Other cash 274,483 24,255 28,464 - Total reserves 19,880,778 24,592 +4,581,843 Bills discounted! Secured by U. S. Govlt obligations, direct and guaranteed 1,585 + 376 - 72 Other bills discounted 2*550 - 76 — 3,869 Total bills discounted 4,135 300 3,941 - Industrial advances 77,,556699 — 47 — 33,,881188 U. S. Government securities, direct ana guaranteed: Bonds 1,295,900 - 3,800 + 16,953 Notes 899,500 — 5,000 333,725 Total U. S. Government securities, direct and guaranteed 2,195,400 8,800 316,772 — - Total bills and securities 2,207,104 - 8,547 - 324,531 Due from foreign banks 47 F. R. notes of other banks 20,661 2,947 - 953 Uncollected items 773,326 - 15,387 + 116,835 Bank premises 41,193 - 55 - 782 Other assets 56,253 + 402 — 15,712 T O T AL A S S E TS 22,979,362 - 1,942 +4,356,700 L I A B I L I T I ES F. R. notes in actual circulation 55,,777733,,220077 + 70,078 + 873,707 Deposits: Member bank - reserve account 14,153,573 -138,381 +2 ,537,056 U. S, Treasurer - General account 254,916 + 56,310 - 91,275 Foreign 1,132,478 - 20,815 + 734,034 Other deposits 575,976 + 43,8?? + 189,560 Total deposits 16,116,943 — 59,047 +3,369,375 Deferred availability items 771144,,666600 — 1133,,229977 + 9944,,447766 Other liabilities including accrued dividends 4,572 - 116 - 1,352 T O T AL L I A B I L I T I ES 22,609,782 M* 2,382 +4,336,4o6 1 A111AL A C C O U N TS Capital paid in 137,890 + 115 + 2,639 Surplus (Section 7) 151,720 - - + 2,568 Surplus (Section 13b) 26,339 — - 425 Other capital accounts 53,131 + 325 + 15,512 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,979,362 - 1,942 +4,356,700 Ratio of total reserves to deposit and F. F-. note liabilities combined 90, — + 4. IS Commitments to make industrial advances 6,505 - 601 - 2,987 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 233~b OQ m ftr pJ-rr.r. T-rrr-rrriO F CONDITION OF THE FEDERAL RESERVE BMXS OK DECEMBER 4, 1940 1 s: X (in thousands of cbllr.r s) A S S E TS Total Boston Hew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. S'a ns.Cy. Dallas S an Fr an • Gold certificates on hand and due from U.S. Treasury 19,594,780 1,138,621 9,590,898 1 ,017,662 1,336,240 529,973 371,095 2,9 56,501 507,522 299,174 411,595 277,269 1,158,2.30 Redemption fund - F.R.notes 11,515 1,336 1,^83 1,281 817 1,462 705 1,419 209 368 448 541 1,446 Other cash 274,483 26,111 63,124 19,997 17,939 18,820 17,031 34,819 14,672 6,471 15,581 12,938 26,980 Total reserves 19.CP/) ,778 9,655,505 1,038,940 1, 354,996 550,255 388,831 2, 0 / 0n 3s 70O 522,403 306,013 Bills discounted: Secured by U.S. Government obligations, direct and guaranteed 1,585 25 511 339 135 30 2 32 255 203 53 Other bills discounted 2,550 503 254 149 73 36 197 77 191 924 56 90 Total bills discounted 4.135 25 1,014 593 284 103 38 22.9 332 394 977 90 Industrial advances 7,569 998 1,783 22,,110033 299 785 309 263 5 254 87 82 601 U.S. Government securities, direct and guaranteed* Bonds 1,295,900 92,999 383,430 108,606 129,796 68,672 49,683 147,849 55,909 36,888 63,399 50,329 108,340 Notes 899,500 64,553 266,144 75,384 90,092 47,665 34,485 102,625 38,808 25,603 44,007 34,934 75,2.00 Total U.S.Gov't securities. direct and guaranteed ?.195.4nf> 157,552 649,574 183,990 219,888 116,337 84,168 250,474 94,717 62,491 107,406 85,2.63 183,540 Total bills and securities 2*207*104 158,575 652,371 186,686 220,471 117,225 84,515 250,966 95,054 63,139 108,470 85,401 '• 184,231 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F.R. notes of other banks 20,661 504 1,560 1,076 1,641 3,322 1,905 2,743 2,159 1,072 1,789 508 2,382 Uncollected items 773,326 76,686 192,994 56,802 86,161 63,103 29,642 102,298 43,428 19,825 31,688 29,442 41,257 Bank premises 41,193 2,838 9,712 4,495 5,412 2,585 1,995 3,328 2,428 1,369 3,065 1,108 2,858 Other assets 56,253 3,769 15,882 4,828 6,091 3,254 2,045 5,964 2,302 1,630 2,584 2,922 4,982 T O T AL A S S E TS 22,979,362 1,408,443 10,528,042 1,292,832 1,674,776 739,746 508,935 3,358,044 667,775 393,048 575,221 410,130 1,422,370 *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 Piiila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation 5,773j207 463,210 1,538,242 400,552 52.5,902 271,334 189,189 1,227,181 214,800 156,703 206,942 95,456 478,696 Deposits: Member bank-reserve aect.14,153,573 767,936 7,528,769 583,448 938,823 348,014 228,867 1,850,676 352,084 174,52.8 275,251 234,293 770,834 U.S.Treasurer-General acct. 254,916 9,995 77,481 14,108 17,392 6,268 16,104 32,881 16,619 13,022 14,813 14,165 22,068 Foreign 1,132,478 54,486 636,297 75,535 71,682 33,143 26,977 92,492 23,123 16,957 22,352 23,123 56,311 Other deposits 575,976 7,356 458,303 29,483 6,304 3,346 5,128 5,652 6,935 5,250 12,852 3,521 31,846 Total deposits 16.116.94? 839,823 8,700,850 802,574 1,034,201 390,771 277,076 1,981,701 OOf: 7.<T 2 09,757 325,268 275,102 881,059 Deferred availability items 714,660 74,433 160,347 54,972 79,284 61,415 29,046 101,738 42,423 16,837 31,763 27,581 34,821 Other liabilities including accrued dividends 4,972 481 1,443 645 527 178 203 535 132 159 177 164 328 TOTAL LIABILITIES 22,609,782 1,,3 82,947 10,400,882 1, 258,743 1,639,914 723,698 495,514 3,311,155 656,116 383,456 564,150 398,303 1,394,904 C A P I T AL A C C O U N TS m Capital paid in 137,890 9,337 51,087 11,889 14,175 5,355 4,680 14,031 4,172 2,970 4,423 4,165 11,606 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 1,4-29 538 1,001 1,142 1,266 2,121 Other capital accounts 53,131 <£,oc-0 15,530 3,609 5,357 • 2,200 2,303 8,605 2,240 2,469 1,893 2,422 3,515 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,979,362 1,408,443 10,528,042 1, 292,832 1,674,776 739,74:6 508,935 3,358,044 667,775 393,048 575,221 410,130 1,422,370 Commitments to make industrial advances 6,505 2.47 711 1,002 842 544 6 23 388 51 120 4 2,567 MATURITY DISTRIBUTION OF B]:L LS AND S:;:C U?.ITI3S Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years to Over Dotal 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Bills discounted 4,135 2,055 320 781 262 666 51 Industrial advances 7,569 1,316 321 302 82 628 1,314 1,408 2,198 U. S. Government securities, direct ;ind guaranteed 2,195,400 74,800 115,300 194,000 635,500 1,175,800 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn. F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 4, 1940 (in thousands of dollars) Total Boston Nov/ York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kalis.0y. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 6,064,953 484,569 1,614,297 421,775 549,004 282,359 210,569 1,258,133 228,007 161,210 215,113 103,352 536,565 Held by Federal Reserve Bank 291,746 16,359 76,055 21,223 23,102 11,025 21,380 30,952 13,207 4,507 8,171 7,896 57,869 In actual circulation 5,773,207 468,210 1,538,242 400,552 525,902 271,334 189,189 1,227,181 214,800 156,703 206,9/2 95,456 478,696 Collateral held by agent as security for notes issued to bank1 Gold certificates on hand and due from U. S. Treasury 6,176,500 500,000 1,635,000 430,000 550,000 300,000 220,000 1,270,000 234,000 161,500 220,000 107,000 549,000 Eligible paper 2,770 25 631 495 - - 65 - - - - 305 325 924 - - Total collateral 6,179,270 500,025 1,635,631 430,495 550,000 300,065 220,000 1,270,000 234,305 161,825 220,924 107,000 549,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis