H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form F. "R. 283 STATELIEST FOR THE PRESS Released for publication Board of Governors Friday morning, Dec* 20; of the Federal Reserve System not earlier* December 19, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 18 member bank reserve balances decreased $348,000,000. Reductions in meaber bank reserves arose from increases of $91,000,000 in money in circulation, $335,000,000 in Treasury deposits with Federal Reserve Banks, $7,000,000 in Treasury cash and $25,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $65,000,000 in Reserve Bank credit, $40,000,000 in gold stock and $4,000,000 in Treasury currency. Excess reserves of member banks on Dacenber 18 were estimated to be approximately $6,400,000,000, a decrease of $390,000,000 for the week. Changes in member ban:: reserve balances and related items during the week and the year ended December IS, 1940, were as follows: Increase or decrease since Dec. 18, Dec. 11, Dec. 20, 1940 1940 1939 (In millions of dollars) Bills discounted 4 - 1 - 4 A U. S. Gov't securities,direct and guaranteed 22,,118844 - 312 Industrial advances (not including 6 million comnitments - December 18) 7 — 4 Other Reserve Bank credit 110 + 66 - 19 Total Reserve Bank credit 2,306 + 65 - 339 Gold stock 21,898 + 40 +4,322 Treasury currency 3,081 + 4 + 122 Tionber bank reserve balances 13,804 -348 +2,426 Honey in circulation 8,716 + 91 +1,037 Treasury cash 2,204 + 7 - 207 Treasury deposits with F.R. Banks 570 +335 - 12.4 Ifomeribor deposits and other F. R. accounts 1,991 + 25 + 973 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form 7. R. 283~a Released for publication Friday morning, December 20,1940; not earlier. STATELIEST OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COI.IBINED (in thousands of dollars) Increase or decrease since Dec, 18, Dec. 11, Dec. 20, 1940 1940 1939 A S S E TS Gold certificates on hand and due from U. S.Treasury- 19,660,781 + 31,001 +4, 526,162 Redemption fund - F. R. notes 11,228 287 + 1,255 Other cash 248,004 - 21,518 - 6,425 Total reserves 19,920,013 + 9,196 +4, 520,992 Bills discountedl Secured by U. S, Gov't obligations, direct and guaranteed 1,810 447 + 133 Other bills discounted 2,539 + 10 — 4,248 Total bills discounted 4,349 437 - 4,115 Industrial advances 77,,443333 59 — 3,706 U. S. Government securities, direct and guaranteed: Bonds 1,284,600 + 21,403 Notes 899,500 — 333,725 Total U. S. Government securities, direct and guaranteed 2,184,100 - - — 312,322 Total bills and securities 2,195,882 496 _ 320,143 Due from foreign banks 47 _ _ F. R. notes of other banks 22,893 + 1,428 3,023 Uncollected items 1,024,464 +238,806 + 146,562 Bank premises 41,22.1 + 1 - 964 Other assets 46,545 - 12,502 — 13,099 T O T AL A S S E TS 23,251,065 +236,433 +4,339,32.5 L I A B I L I T I ES F. R. notes in actual circulation 55,,888833,,557755 ++ 6644,,224422 + 990033,,772255 Deposits I Member bank - reserve account 13,804,436 -348,018 +2,426,272 U. S. Treasurer - General account 570,452 +334,984 - 123,113 Foreign 1,140,085 + 34,505 + 727,326 Other deposits 562,138 - 19,669 + 210,215 Total deposits 16,077,111 + 1,802 +3,240,700 Deferred availability items 991144,,226666 ++117722,,770088 + 116655,,336666 Other liabilities including accrued dividends 5,129 - 2,632 - 131 TOTAL LIABILITIES 22,880,081 +236,120 +4,309,660 C A P I T AL A C C O U N TS Capital paid in 138,213 + 269 + 2,779 Surplus (Section 7) 151,720 — — + 2,568 Surplus (Section 13b) 26,839 - - - 425 Other capital accounts 54,212 + 44- + 15,743 TOTAL LIABILITIES CAPITAL ACCOUIITS 23,251,065 +236,433 +4,330,325 Ratio of total reserves to deposit and F. R. note liabilities combined 90.7% »2% + A.3$ - Commitments to iaake industrial advances 6,304 125 2,970 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

florin F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 18, 1940 (in thousands of dollars) A S S E TS Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St Louis Minn, X3 1s. Cy.D allas S;a n Fran. Gold certificates on hand and due fron U. S. Treasury 19,660,7811 ,145,923 9,658,768 1, 045,607 1,322,252 544,680 374,082 2,897,781 490,502 309,450 426,3592 83,853 1, 161,52; Redemption fund - F.R.notes 11,228 1,279 1,241 1,183 741 1,861 670 1,333 190 359 433 521 1,41: Other cash 248,004 23,952 52,857 17,541 14,958 15,937 15,939 30,622 14,358 5,952 13,692 12,793 29,4o: Total reserves 19,920*013 1,171,154 9,712,866 1,064,331 1,337,951 562,478 390,691 2,929,736 505,050 315,761 440,434 297,167 1, 192,34^ Bills discounted: Secured by U.S. Gov't obligations, direct and guaranteed 1,810 85 622 198 110 35 2 15 415 109 215 4 Other bills discounted 2,539 — — 544 286 163 41 37 195 78 161 920 45 6< Total bills discounted 4,349 85 1,166 484 273 76 39 210 493 270 1,135 49 6< Industrial advances 7,433 980 1,768 2,093 236 783 338 265 5 236 86 82 56: U. S. Government securities, direct and guaranteed: Bonds 1,284,600 92,213 379,572 107,638 128,649 68,168 49,278 146,651 55,508 36,611 62,958 49,948 107,40£ Motes 899,500 64,568 265,783 75,369 90,082 47,732 34,506 102,688 j>o , vjOo2 5,636 44,085 34,974 75,20*: Total U. S. Gov*t securities* direct end guaranteed 2,184.100 156,781 645,355 183,007 218,731 115,900 83,784 249,339 94,376 62,247 107,043 84,922. 182,6V. Total bills and securities 2,195,882 157,846 648,289 185,584 219,240 11.6,759 84,161 249,814 94,874 62,753 108,264 85,053 183,24.' Due from foreign banks 47 3 18 5 4 2 2 6 1 * 1 1 / F. R. notes of other banks 22,893 631 2,234 1,066 1,922 2,727 2,560 3,592 2,732 955 1,590 490 ?,39< Uncollected items 1,024,464 91,246 253,326 71,065 118,201 85,923 36,346 153,086 53,794 21,781 41,320 35,915 62,46: Bank premises 41,221 2,838 9,721 4,513 5,412 2,586 1,995 3,328 2,428 1,369 3,065 1,108 2,S5^ Other assets 46,545 3,089 13,079 3,815 5,145 2,753 1,728 4,908 1,859 1,344 2,106 2,551 4,16* T O T AL A S S E TS 23,251,065 1,426,807 10,639,533 1,330,379 1,687,875 773,228 517,483 3,344,470 660,738 403,963 596,830 422,285 1,447,47' *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. Kcais.Cy. Dallas San Fran. F. R. notes in actual circulation 5,883,575 475,697 1,562,232 409,376 539,891 280,476 194,890 1,247,569 2,19,590 158,107 209,327 96,660 489,760 Deposits t Member bank-reserve acct.13,804,436 751,995 7,366,275 679,144 893,213 340,574 226,141 1,744,769 332,577 176,955 284,375 233,665 774,753 U.S.Treasurer-General acct. 570,452 20,805 276,808 33,500 32,536 17,365 14,978 67,505 15,135 19,608 22,344 22,808 27,060 Foreign 1,140,085 55,088 641,521 75,841 71,972 33,277 27,086 92,867 23,217 17,026 22,443 23,217 56,530 Other deposits 562,138 8,110 451,788 30,465 4,853 5,221 5,154 5,064 7,187 5,888 12,572 1,912 23,924 Total deposits 16,077,111 835,998 8,736,392 818,950 1,002,574 396,437 273,359 1,910,205 378,116 219,477 341,734 281,602 882,267 Deferred availability items 914,266 89,029 211,828 67,388 109,831 80,011 35,579 138,878 51,184 16,576 34,437 31,981 47,544 Other liabilities including accrued dividends 5,129 508 1,583 491 588 185 186 Do i 137 L72 182 174 336 TOTAL LIABILITIES 22,880,0811,401,232 10,512,035 1,296,205 1,652,884 757,109 504,014 3,297,239 649,027 394,332 585,680 410,417 1,4.19,907 C A P I T AL A C C O U N TS Capital paid in 138,213 9,334 51,091 11,880 14,191 5,361 4,693 14,259 4,184 2,977 4,456 4,168 11,619 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,72 5 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 1,429 533 1,001 1,142 1,266 2,121 Other capital accounts 54,212 2,962 15,972 3,703 5,470 2,265 2,338 8,719 2,280 2,501 1,939 2,460 3,603 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,251,065 1,426,807 10,639,533 1,330,379 1,687,875 773,228 517,483 3,344,470 660,738 403,963 596,830 422,285 1,447,474 Commitments to make industrial advances 6,304 247 704 1,025 787 539 6 24 -427 51 35 4 2,455 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 4,349 2,111 503 762 229 698 46 Industrial advances 7,433 1,518 213 95 86 565 1,328 1,476 2,152 U. S. povernr.ient securities, direct and guaranteed 2,184,100 74,800 58,300 100,000 181,800 633,400 1,135,800 I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Forn F. R. 203-d FEDERAL RESERVE HOTE STATE35ENT OK DECEMBER 18, 1940 (in thousands of dollars) Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.Bank by F.R.agent 6,190,277 494,331 1,641,232 429,158 562,127 291,681 216,486 1,277,531 231,357 162,911 218,018 106,442 559,003 Held by Federal Reserve Bank 306,702 18,634 79,000 19,782 22,236 11,205 21,596 29,962 11,767 4,S04 8,691 9,782 69,243 In actual circulation 5,883,575 475,697 1,562,232 409,376 539,891 280,476 194,890 1,247,569 219,590 158,107 209,327 96,660 489,760 Collateral held by agent as security for notes issued to benkf Gold certificates on hand and due fron U. S. Treasury 6,302,500 500,000 1,665,000 440,000 565,000 315,000 220,000 1,300,000 234,000 163,500 220,000 111,000 569,000 Eligible paper 3,045 85 761 38I - - 35 - - - - 465 230 1,080 - - Total collateral 6,305,545 500,085 1,665,761 440,381 565,000 315,035 220,000 1,300,000 234,465 163,730 221,088 111,000 569,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis