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Form F. R. 2B3 STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 13; not earlier* Board of Governors of the Federal Reserve System 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, 1940 Dec. 4, 1940 Dec. 13, 1939 (In millions of dollars) Bills discounted U.S. Gov't securities,direct and guaranteed Industrial advances (not including 6 million commitments ~ December 11) Other Reserve Bank credit 5 2,184 7 A4 - + 1 - 11 ~ 3 - 328 1 - 15 + 4 32 Total Reserve Ban!: credit Gold stock Treasury currency '2,241 21,858 3,077 - 25 4- 31 + 3 - 302 +4,394 + 123 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F, R, Banks Nonmember deposits and other F. R. accounts 14,152 8,625 2,197 235 1,966 + - +2,864 +1,061 - 201 - 518 +1,007 2 56 7 20 20 Form F. R. 283-a Released for publication Friday morning,, December 13,1940? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS C0I13INSD (In thousands of dollars) Increase or decrease since Dec. 13, Dec. 4, Dec. 11, 1940 1940 1939 ASSETS Gold certificates on hand and due from U. S. Treasury+4,605,161 19,629,780 + 35,000 Redemption fund - F. P.. notes + 1,102 11,515 Other cash 269,522 - 4,961 33,186 Total reserves +4,573,077 19,910,817 + 30,039 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed Other bills discounted Total bills discounted 2,257 2,52.9 4,786 + 672 21 651 + + - 692 3,958 3,266 Industrial advances U. S. Government securities, direct and guaranteedt Bonds Notes 7,492 77 3,651 1,284,600 899,500 - 11,300 + 5,653 - 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 F. R. notes ofcther banks Uncollected items Bank premises Other assets TOTAL ASSETS — — — — 47 21,465 785,658 41,220 59,047 + 804 + 12,332 + 27 + 2,794 2.3,014,632 + 35,270 2,234 11,545 755 - 17,383 +4,229,261 5,819,333 + 46,126 + 913,900 1,119 19,448 26,898 5,831 41,634 26,898 +2,864,846 - 517,112 + 730,490 + 238,229 16,075,309 741,558 + + 7,761 22,643,961 + 2,789 + 34,179 1,476 +4,208,388 137,944 151,720 26,839 54,168 23,014,632 + + + - — + LIABILITIES F. R. notes in actual circulation Deposits» Llember bank — reserve account U.S. Treasurer - General account Foreign Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of total reserves to deposit and F. R. note liabilities combined Commitments to make industrial advances 14,152,454 235,468 1,105,580 581,807 90.9% 6,429 54 +3,316,453 - 20,489 + 1,037 + 35,270 2,583 2,568 425 + 16,147 +4,229,261 + + — — .156 76 A.1% 2,919 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 T S 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 1,446 1,281 368 448 11,515 1,336 817 1,462 705 541 1,483 1,419 209 Other cash 28,376 269,522 31,408 14,943 6,229 16,282 12,517 16,206 20,140 19,315 19,44) 25,973 58,693 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, — 690 direct and guaranteed -61 2 15 681 2,257 203 115 - 135 55 — 98 200 44 67 Other bills discounted 197 908 150 36 501 2,529 289 39 Total bills discounted 4,786 — 1,182 650 28 5 94 38 215 788 4oo 1,023 235 783 323 265 5 252 87 44 82 67 601 Industrial advances 7,492 l7. S. Government securities direct and guaranteed: Bonds 1,284,600 Notes 899,500 984 1,783 2,092 92,213 64,568 379,573 265,782 107,638 75,369 128,649 68,168 49,278 90,082 47,732 34,506 146,651 55,507 36,611 62,958 49,948 102,688 38,868 25,637 44,085 34,974 107,406 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 157,765 648,320 185,749 18 2,176 186,436 9,720 16,147 5 993 53,233 4,513 7,138 249,819 95,168 62,900 108,153 85,048 6 1 * 1 1 3,000 2,092 642 1,306 645 106,590 45,174 18,895 35,903 28,424 3,328 2,428 1,369 3,065 1,108 5,998 2,282 1,630 2,601 2,953 183,283 3 487 75,175 2,838 3,796 219,251 116,777 84,145 2 2 4 1,876 2,834 2,447 90,763 65,166 33,905 5,412 2,586 1,995 6,109 3,319 2,059 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,196,378 47 21,465 785,658 41,220 59,047 4 2,967 45,994 2,858 5,015 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. Form F. R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 11, 3.940 (in thousands of dollars) LIABILITIES Total F. R. notes in actual circulation 5,819,333 Deposits t Member bank—reserve acct.14,152,454 U.S.Treasurer-General acct. 235,468 Foreign 1,105,580 Other deposits 581,807 Total deposits 16,075,309 Deferred availability items 741,558 Gther liabilities including accrued dividends 7,76l boston New York Phila. Cleve. 472,205 1,545,827 404,582 535,716 277,311 191,097 1,234,471 216,271 157,605 207,657 95,327 481,264 807,970 7,509,818 8,802 55,873 53,790 611,434 7,894 471,047 679,327 11,978 75,310 30,100 920,396 357,722 232,048 1,3.29,499 352,2.82 180,424 282,092. 235,620 16,735 7,067 9,534 2.6,804 19,867 12,646 11,762 11,551 71,467 33,044 26,896 92,216 23,05A 16,906 22,286 23,054 6,338 3,234 4,575 6,025 7,168 5,745 12,567 2,325 765,256 42,849 56,123 24,789 878,456 8,6/(8,172 796,715 1,014,936 401,067 273,053 1,954,544 402,371 215,721 328,707 272,550 52,647 87,445 64,835 32,618 103,346 44,969 16,196 34,130 27,289 889,017 I83 364 73,278 162,962 488 1,616 2,974 601 Rich. Atlanta 198 214 Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. 606 156 178 183 41,793 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 CAPITAL ACCOUNTS Capital paid in 14,048 4,180 2,974 4,4.32 4,166 11,618 137,944 9,337 51,089 11,882 14,179 5,355 4,684 Surplus (Section 7) 22,824 4,709 3,152 3,613 3,974 10,224 151,720 10,405 53,326 14,198 14,323 5,247 5,725 Surplus (Section 13b) 1,429 538 1,001 1,142 1,266 2,121 26,839 2,874 7,109 4,393 1,007 3,246 713 Other capital accounts 8,719 2,283 2,498 1,958 2,460 3,596 54,168 2,959 15,946 3,696 5,457 2,255 2,341 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 4 2,550 51 1,031 837 540 6 2.4 428 711 247 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 2 Years to Over Within 16 to 31 to 61 to 91 days to 6 months 1 Year 5 Years 5 Years 6 months to 1 Year to 2 Years Total 15 days 30 days 60 days 90 days 424 788 251 2,614 664 45 Bills discounted 4,786 1,408 2,181 1,308 588 Industrial advances 1,314 341 276 76 7,492 U. S. Government securities, 194,000 635,500 1,164,500 74,800 115,300 direct and guaranteed 2,184,100 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 Held by Federal Reserve Bank 6,135,348 489,375 1,631,401 426,078 557,048 288,950 213,296 1,264,463 228,957 163,136 216,897 105,505 550,242 316,015 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 Eligible paper Total collateral 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 3,459 - 788 550 - 55 - - 760 330 976 - 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
@FedFRASER