H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. R. 2B3 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Dec. 13; of the Federal Reserve System not earlier* December 12, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 11 member bank reserve balances decreased $2,000,000* Reductions in member bank reserves arose from an increase of $56,000,000 in money in circulation and a decrease of $25,000,000 in Reserve Bank credit, offset in part by decreases of $20,000,000 in Treasury deposits with Federal Reserve Banks, $7,000,000 in Treasury cash, and $20,000,000 in nonmember deposits and other Federal Reserve accounts, and increases of $31,000,000 in gold stock and $3,000,000 in Treasury currency. Excess reserves of member banks on December 11 were estimated to be approximately $6,790,000,000, a decrease of $30,000,000 for the week. The principal change in holdir^gs of bills and securities was a reduction of $11,000,000 in holdings of United States Government bonds. Changes in menbur bank reserve balances and related items during the week and the year ended December 11, 1940, were as follows 1 Increase or decrease since Dec. 11, Dec. 4, Dec. 13, 1940 1940 1939 (In millions of dollars) Bills discounted 5 +1 ~ 3 U.S. Gov't securities,direct and guaranteed 2,184 - 11 - 328 Industrial advances (not including 6 million commitments ~ December 11) 7 -1 4 Other Reserve Bank credit A4 - 15 + 32 Total Reserve Ban!: credit '2,241 - 25 - 302 Gold stock 21,858 4- 31 +4,394 Treasury currency 3,077 + 3 + 123 Member bank reserve balances 14,152 - 2 +2,864 Money in circulation 8,625 + 56 +1,061 Treasury cash 2,197 - 7 - 201 Treasury deposits with F, R, Banks 235 - 20 - 518 Nonmember deposits and other F. R. accounts 1,966 - 20 +1,007 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form F. R. 283-a Released for publication Friday morning,, December 13,1940? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKSC 0I13INSD (In thousands of dollars) Increase or decrease since Dec. 11, Dec. 4, Dec. 13, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S. Treasury- 19,629,780 + 35,000 +4,605,161 Redemption fund - F. P.. notes 11,515 + 1,102 Other cash 269,522 - 4,961 - 33,186 Total reserves 19,910,817 + 30,039 +4,573,077 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 2,257 + 672 + 692 Other bills discounted 2,52.9 21 - 3,958 Total bills discounted 4,786 + 651 3,266 Industrial advances 77,,449922 77 33,,665511 U. S. Government securities, direct and guaranteedt Bonds 1,284,600 - 11,300 + 5,653 Notes 899,500 — — - 333,725 Total U. S. Government securities, direct and guaranteed 2,184,100 - 11,300 - 32S,072 Total bills and securities 2,196,378 - 10,72.6 - 334,989 Due from foreign banks 47 — — - — F. R. notes ofcther banks 21,465 + 804 2,234 Uncollected items 785,658 + 12,332 + 11,545 Bank premises 41,220 + 27 755 Other assets 59,047 + 2,794 - 17,383 T O T AL A S S E TS 2.3,014,632 + 35,270 +4,229,261 L I A B I L I T I ES F. R. notes in actual circulation 55,,881199,,333333 ++ 4466,,112266 ++ 991133,,990000 Deposits» Llember bank — reserve account 14,152,454 - 1,119 +2,864,846 U.S. Treasurer - General account 235,468 - 19,448 - 517,112 Foreign 1,105,580 - 26,898 + 730,490 Other deposits 581,807 + 5,831 + 238,229 Total deposits 16,075,309 - 41,634 +3,316,453 Deferred availability items 774411,,555588 ++ 2266,,889988 -- 2200,,448899 Other liabilities including accrued dividends 7,761 + 2,789 1,476 TOTAL LIABILITIES 22,643,961 + 34,179 +4,208,388 C A P I T AL A C C O U N TS Capital paid in 137,944 ++ 5544 + 2,583 Surplus (Section 7) 151,720 + 2,568 Surplus (Section 13b) 26,839 — — 425 Other capital accounts 54,168 + 1,037 + 16,147 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,014,632 + 35,270 ++44,,222299,,226611 Ratio of total reserves to deposit and F. R. note liabilities combined 90.9% + .156 + A.1% Commitments to make industrial advances 6,429 76 2,919 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

form F. it. fiaj—Q STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 11, 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 19,629,780 1,182,629 9,563,054 1,018,735 1,333,226 547,228 365,872.2 ,938,419 513,180 307,292 414,113 275,978 1,170,054 Redemption fund - F.R.notes 11,515 1,336 1,483 1,281 817 1,462 705 1,419 209 368 448 541 1,446 Other cash 269,522 25,973 58,693 19,44) 16,206 20,140 19,315 31,408 14,943 6,229 16,282 12,517 28,376 Total reserves 19,910,817 1,209,938 9,623,230 1,039,456 1,350,249 568,830 385,892 2,971,246 528,332 313,889 430,843 289,036 1,199,876 Bills discounted! Secured by U.S. Gov't obligations, direct and guaranteed 2,257 — 681 -61 135 55 2 15 690 203 115 - - Other bills discounted 2,529 — 501 289 150 39 36 200 98 197 908 44 67 Total bills discounted 4,786 — 1,182 650 28 5 94 38 215 788 4oo 1,023 44 67 Industrial advances 7,492 984 11,,778833 22,,009922 235 783 323 265 5 252 87 82 601 l7. S. Government securities direct and guaranteed: Bonds 1,284,600 92,213 379,573 107,638 128,649 68,168 49,278 146,651 55,507 36,611 62,958 49,948 107,406 Notes 899,500 64,568 265,782 75,369 90,082 47,732 34,506 102,688 38,868 25,637 44,085 34,974 75,209 Total U. S. Gov't securities, direct and guaranteed 2,184,100 156,781 645,355 183,007 218,731 115,900 83,784 249,339 94,375 62,248 107,043 84,922 182,615 Total bills and securities 2,196,378 157,765 648,320 185,749 219,251 116,777 84,145 249,819 95,168 62,900 108,153 85,048 183,283 Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 4 F. R. notes of other banks 21,465 487 2,176 993 1,876 2,834 2,447 3,000 2,092 642 1,306 645 2,967 Uncollected items 785,658 75,175 186,436 53,233 90,763 65,166 33,905 106,590 45,174 18,895 35,903 28,424 45,994 Bank premises 41,220 2,838 9,720 4,513 5,412 2,586 1,995 3,328 2,428 1,369 3,065 1,108 2,858 Other assets 59,047 3,796 16,147 7,138 6,109 3,319 2,059 5,998 2,282 1,630 2,601 2,953 5,015 T O T AL A S S E TS 23,014,632 1,450,002 10,486,047 1,291,087 1,673,664 759,514 510,445 3,339,987 675,477 399,325 581,872 407,215 1,439,997 *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 BANKS ON DECEMBER 11, 3.940 (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 5,819,333 472,205 1,545,827 404,582 535,716 277,311 191,097 1,234,471 216,271 157,605 207,657 95,327 481,264 Deposits t Member bank—reserve acct.14,152,454 807,970 7,509,818 679,327 920,396 357,722 232,048 1,3.29,499 352,2.82 180,424 282,092. 235,620 765,256 U.S.Treasurer-General acct. 235,468 8,802 55,873 11,978 16,735 7,067 9,534 2.6,804 19,867 12,646 11,762 11,551 42,849 Foreign 1,105,580 53,790 611,434 75,310 71,467 33,044 26,896 92,216 23,05A 16,906 22,286 23,054 56,123 Other deposits 581,807 7,894 471,047 30,100 6,338 3,234 4,575 6,025 7,168 5,745 12,567 2,325 24,789 Total deposits 16,075,309 878,456 8,6/(8,172 796,715 1,014,936 401,067 273,053 1,954,544 402,371 215,721 328,707 272,550 889,017 Deferred availability items 741,558 73,278 162,962 52,647 87,445 64,835 32,618 103,346 44,969 16,196 34,130 27,289 41,793 Gther liabilities including accrued dividends 7,76l 488 1,616 2,974 601 198 214 606 156 178 183 I83 364 TOTAL LIABILITIES 22,643,961 1,424,427 10,358,577 1,256,918 1,638,698 743,411 496,982 3,292,967 663,767 389,700 570,727 395,349 1,412,438 C A P I T AL A C C O U N TS Capital paid in 137,944 9,337 51,089 11,882 14,179 5,355 4,684 14,048 4,180 2,974 4,4.32 4,166 11,618 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 54,168 2,959 15,946 3,696 5,457 2,255 2,341 8,719 2,283 2,498 1,958 2,460 3,596 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,014,632 1,450,002 10,486,047 1,291,087 1,673,664 759,514 510,445 3,339,987 675,477 399,325 581,872 407,215 1,439,997 Commitments to make industrial advances 6,429 247 711 1,031 837 540 6 2.4 428 51 4 2,550 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 4,786 2,614 424 788 251 664 45 Industrial advances 7,492 1,314 341 276 76 588 1,308 1,408 2,181 U. S. Government securities, direct and guaranteed 2,184,100 74,800 115,300 194,000 635,500 1,164,500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. H. 28'3-d FEDERAL RESERVE NOTE STATEMENT OK DECEMBER 11, 1940 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich... Atlanta Chicago St.Louis uinn. Kans.Cy. Dallas San Fran. Federal Reserve notesi Issued to F.R.Bank by F.R.agent 6,135,348 489,375 1,631,401 426,078 557,048 288,950 213,296 1,264,463 228,957 163,136 216,897 105,505 550,242 Held by Federal Reserve Bank 316,015 17,170 85,574 21,496 21,332 11,639 22,199 29,992 12,686 5,531 9,240 10,178 68,978 In actual circulation 5,819,333 472,205 1,545,827 4o4,532 535,716 277,311 191,097 1,234,471 216,271 157,605 207,657 95,327 481,264 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due fron U. S. Treasury 6,261,500 500,000 1,655,000 4-30,000 561,000 300,000 220,000 1,300,000 234,000 163,500 220,000 109,000 569,000 Eligible paper 3,459 - - 788 550 - - 55 - - - - 760 330 976 - - Total collateral 6,264,959 500,000 1,655,788 430,550 561,000 300,055 220,000 1,300,000 234,760 163,830 220,976 109,000 569,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis