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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Saturday morning, Feb. 24; not earlier. Board of Governors of the Federal Reserve System February 23, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 21 member bank reserve balances increased $90,000,000* Additions to member bank reserves arose from decreases of $27,000,000 in Treasury cash, $46,000,000 in Treasury deposits Tilth Federal Reserve banks, and $18,000,000 in nonmember deposits and other Federal Reserve accounts, and an increase of $45,000,000 in gold stock, offset in part by a decrease of $7,000,000 in Reserve bank credit and an increase of $39,000,000 in money in circulation. Excess reserves of member banks on February 21 were estimated to be approximately $5,630,000,000, an increase of $50,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 21, 1940, were as follows: Increase or decrease since Feb. 21, 1940 Feb. 14, 1940 Feb. 21, 1939 (in millions of dollars) Bills discounted Bills bought U. S. Qov!t securities,direct and guaranteed Industrial advances (not including 9 million commitments - February 21) Other Reserve bank credit 6 — - 1 + - 2, 1 87 5 22 — 2,477 — 10 30 - 6 + Total Reserve bank credit Gold stock Treasury currency 2,523 18,108 2,977 - 7 + 45 - 69 +3,290 + 156 Member bank reserve balances Lloney in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F. R. accounts 12,241 7,450 2,358 596 964 + + — — 90 39 27 46 lo +3,400 + 742 - 394 - 585 + 215 Form FR~2S3~a Released for publication Saturday morning, Feb. 24,1940; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Feb. 21, Feb. 14, Feb. 21, 1940 1939 1940 ASSETS Gold certificates on hand and due fron U. S. Treasury 15,739,122 + 64,504 +3,689,403 Redemption fund - F. R. notes 688 829 9,430 Other cash 369,498 76,377 - 15,293 - Total reserves Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed Other bills discounted Total bills discounted Bills bought in open uarket Industrial advances U, S. Govermient securities, direct and guaranteed* Bonds Notes Bills Total U. S. Government securities, direct and guaranteed Total bills and securities Due fron foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS LIABILITIES F. R. notes in actual circulation Deposits: Uenber bank - reserve account U. S. Treasurer - General account Foreign bank Other deposits Total de-cosits 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 Connitnents to make industrial advances 16,118,050 741 5,338. 6,079 + 48,523 +3,612,197 1,548 + 286 - 830 + 3,210 544 + 1,662 .— — 1,344,045 1,133,225 — - — + — - — • — — 2,477,270 553 4,220 - 7 10,427 - — 503,152 82,241 507,656 86,745 89,856 122 2,523 47,542 1,033 13,750 2,493,776 47 20,003 636,295 41,771 63,931 - 1,270 -155,745 21 + 1,036 + 19,373,873 -108,028 +3,585,001 4,860,778 + 14,310 + 12,240,683 595,990 + 89,974 - 46,148 - 31,145 + 14,108 + 26,869 -149,259 +3,400,135 584,801 + 135,407 + 85,961 361,381 354,865 13,552,919 606,706 2,733 19,023,136 136,075 151,720 26,839 36,103 19,373,873 551 — - 134 -108,214 18 — + - + 204 -108,028 — + 277 222 +3 ,578,529 + + 1,145 2,568 4-25 + +3 ,585,001 + — 516,316 +3 ,036,702 + 25,733 - + 87.5$ 8,638 - - 3.3* 4,269 Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1940 (In thousands of dollars) ASSETS Total Boston New York Phi la. Gold certificates on hand and due from U.S. Treasury15,739,122 Redemption fund - F.R.notes 9,430 Other cash 369,498 880,002 7,826,513 667 1,591 30,692 88,489 831,852 650 27,916 984,944 408,777 298,699 2,400,682 426,739 244,065 351,172 226,929 668 "396 471 775 1,199 678 309 833 49,099 16,633 9,228 20,545 15,000 29,233 23,608 21,152 858,748 1,193 37,903 911,361 7,916,593 860,418 1,014,648 433,160 320,684 2,450,980 444,050 253,961 372,113 242,238 897,844 Total reserves 16,118,050 Bills discounted: Secured by U.S. Govlt oblig options, direct and guaranteed 741 Other bills discounted 5,338 Total bills discounted TOTAL ASSETS Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. 475 1,969 70 526 13 484 22 278 10 250 59 567 — 172 25 111 2,444 2,050 596 3,102 497 300 300 931 260 806 626 332 172 — 136 189 81,047 408,181 344,156 110,221 92,934 177,170 752,337 2,493,776 178,590 47 20,003 636,295 41,771 63,931 3 596 61,407 2,885 4,255 756,831 18 1,749 159,923 9,876 18,717 6,079 10,427 Industrial advances U. S. Government securities direct and guaranteed: Bonds 1,344,045 Notes 1,133,225 Total U. S. Gov!t securities, direct and guaranteed 2,477,270 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets —> Cleve. — — 1,420 96,123 __ 439 24 164 43 378 439 119 188 483 421 695 137,084 68,135 54,495 115,581 57,447 45,945 144,872 60,273 39,771 62,897 51,196 122,148 50,818 33,533 53,031 43,167 110,797 93,418 203,155 252,665 125,582 100,440 2.67,020 111,091 73,304 115,928 94,363 204,215 206,853 5 853 50,698 4,562 5,373 253,462 126,813 101,506 2 2 4 1,393 2,874 2,658 73,233 51,674 25,722 5,523 2,538 2,027 7,064 3,736 2,542 267,978 111,263 73,629 116,486 95,034 * 1 6 1 1 2,607 1,671 1,397 1,282 574 88,270 25,325 14,923 27,173 24,038 3,384 2,244 1,393 3,229 1,172 6,560 2,719 1,935 2,870 2,520 205,331 4 2,349 33,909 2,938 5,640 19,373,873 1,159,097 8,863,707 1,128,762 1,355,327 620,797 455,141 2,819,785 587,273 347,238 523,154 365,577 1,148,015 *Less than $500. Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1940 (In thousands of dollars) LIABILITIES Total F. R. notes in actual circulation 4,860,778 Deposits 1 Member bank-reserve account 12,240,683 U.S.Treasurer-General account 595,990 Foreign bank 361,381 Other deposits 354,865 Total deposits Deferred availability items Other liabilities including accrued dividends 13,552,919 6-06,706 2,733 Boston New York Phila. 401,557 1,242,057 345,374 454,924 218,968 157,808 1,069,290 190,276 139,807 180,016 80,435 379,466 586,2.54 6,836,495 55,914 135,050 25,828 129,872 6,115 253,267 595,466 44,263 35,167 26,284 684,746 2.93,452 213,858 1,460,583 313,607 143,901 261,431 212,592 68,889 23,890 24,844 108,840 26,551 27-046 32,458 25,143 33,373 15,430 12,560 43,062 10,766 7,895 IO.4G7 10,766 10,555 4,566 7,773 3,132 9,74l 6,616 354 2,404 638,298 674,111 7,354,684 58,863 144-,739 701,180 49,272 797,563 337,338 259,035 1,615,617 3 6 0 , 6 6 5 185,4-58 304,650 2.50,905 69,573 49,203 25,462 89,840 25,452 12,715 27,098 22,958 711,713 31,531 668 317 259 Cleve. 299 Rich. Atlanta Chicago St.Louis Hinn. Kans.Cy. Dallas Snn Fran. 70 103 365 55 131 22.4 23,102 26',25 5 24,058 99 143 TOTAL LIABILITIES 19,023,136 1,134,790 8,742,148 1,096,143 1,322,359 605,579 442,408 2,775,112 576,448 338,111 512,788 354,397 1,122,853 CAPITAL ACCOUNTS Capital paid in 136,075 9,346 51,14-9 11,906 13,992 5,245 4,622 13,581 4,102 2,958 4,374 4,094 10,706 Surplus (Section 7) 151,720 10,405 53,326 14,198 14,323 5,247 5,725 22,824 4,709 3,152 3 , 6 1 3 3,974 10,224 Surplus (Section 13B) 26,839 2,874 7,109 4,393 1,007 3 , 2 4 6 713 1,429 538 1 , 0 0 1 1,14-2 1,266 2,121 Other capital accounts 36,103 1,682 9,975 2,122 3,646 1,480 1 , 6 7 3 6,839 1,476 2 , 0 1 6 1,2.37 1,846 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,373,873 1,159,097 8,863,707 1,128,762 1,355,327 620,797 455,i4i 2,819,785 587,273 347,238 523,154 365,577 1 , 1 / 8 , 0 1 5 Commitments to make industrial advances 3,638 356 1,753 426 1,028 767 75 20 151 62 492 — 3,508 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Industrial advances U. S. Government securities, direct and guaranteed 6,079 10,427 2,477,270 Within 15 days 932 1,468 16 to 30 days 4,556 171 31 to 60 days 244 501 61 to 90 days 198 292 91 days to 6 months 6 months to 1 Year 119 30 1,715 2,204 136,783 105,974 1 Year to 2 Years — 2,086 2 Years to 5 Years 281,368 684,796 Over 5 Years 1,990 1,268,349 Form FR~283~d FEDERAL RESERVE NOTE STATEMENT OH FEBRUARY 21, 1940 (in thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 5,166,486 420,085 1,326,308 360,557 479,012 233,173 170,120 1,116,343 200,962 143,819 189,649 88,646 437,812 Held by Federal Reserve bank 305,708 18,528 84,251 15,183 24,088 14,205 12,312 47,053 10,686 4,012 8,833 8,211 58,346 In actual circulation 4,860,778 401,557 1,242,057 345,374 454,924 218,968 157,808 1,069,290 190,276 139,807 180,816 80,435 379,466 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,298,500 440,000 1,340,000 375,000 482,000 250,000 175,000 1,130,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 1,068 — 512 105 — 107 — — — 36 308 — — Total collateral 5,299,568 440,000 1,340,512 375,105 482,000 250,107 175,000 1,130,000 209,000 147,536 195,308 91,000 464,000
@FedFRASER