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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Friday morning, Feb. 9; not earlier. Board of Governors of the Federal Reserve System February 8, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended February 7, 1940, member bank reserve balances decreased $53,000,000. Reductions in member bank reserves arose from increases of $83,000,000 in Treasury deposits with Federal Reserve banks, $27,000,000 in money in circulation, $21,000,000 in nonnember deposits and other Federal Reserve accounts and $7,000,000 in Treasury cash, offset in part by increases of $67,000,000 in gold stock, $15,000,000 in Reserve bank credit and $2,000,000 in Treasury currency. Excess reserves of member banks on February 7 were estimated to be approximately $5,520,000,000, a decrease of $40,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended February 7, 1940, were as follows* Increase or decrease since Feb. 7, 1940 Jan# 31? 1940 Feb. 8, 1939 (In millions of dollars) Bills discounted Bills bought U.S. Gov't securities,direct and guaranteed Industrial advances (not including 8 million commitments - February 7) Other Reserve bank credit 7 — - 2,477 10 23 — - — - 15 + 1 87 5 26 Total Reserve bank credit Gold stock Treasury currency 2,518 17,998 2,973 + _ Member bank reserve balances Money in circulation Treasury cash Treasury deposits with P. H. bonks Nonmember deposits and other F# R. accounts 12,097 7,403 2,365 632 992 53 27 7 + 83 + a +3 ,079 + 730 403 299 + 249 15 + 67 + 2 + + 66 +3 ,266 + 155 - - Form FR-283-a Released for publication Friday morning, Feb. 9,1940$ not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Feb. 7, 1940 Increase or decrease since Feb. 8, Jan. 31, 1940 1939 ASSETS Gold certificates on hand and due from U.S. Treasury Redemption fund - F. R. notes Other cash 15,619,619 10,110 337,624 + 67,499 + 783 - 25,598 +3,640,396 + 210 " 54,312 Total reserves 16,017,361 + 42,684 +3,586,294 520 6,264 6,784 124 Bills discounted: Secured by U» S, Gov*t obligations, direct and guaranteed Other bills discounted Total bills discounted Bills bought in open market Industrial advances U. S. Government securities, direct and guaranteed: Bonds Notes Bills Total U. S. Government securities, direct and guaranteed Total bills and securities Due from foreign banks F. R. notes ofother banks Uncollected items Bank premises Other assets 38 + 610 162 — 10,435 + 112 2,477,270 — - 86,745 - 92,164 - 119 253 25,384 1,039 13,069 50 2,494,539 47 22,084 598,495 41,792 556 4,253 — — — - + 503,152 - 76,706 - 513,191 — 1,344,045 1,133,225 4,774 4,164 — 61,460 - 2,542 - 26,573 16 513 19,235,778 + 12,990 +3,480,404 4,836,768 + 4,667 + 12,096,727 631,565 388,173 354,408 + + +3,078,883 Total deposits Deferred availability items Other liabilities including accrued dividends 13,470,873 575,359 + 49,259 - 41,342 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts 18,885,415 TOTAL ASSETS LIABILITIES F. R. notes in actual circulation Deposits: Member bank-reserve account U# S. Treasurer - General account Foreign bank Other deposits TOTAL LIABILITIES AND CAPITAL ACCOUOTS Ratio of total reserves to deposit and F. R. note liabilities combined Commitments to make industrial advances 2,415 136,093 151,720 87.5% 8,350 492,015 - 299,730 + 179,958 + 75,031 +3,034,142 - 51,662 262 174 + 12,846 +3,474,321 + 85 + + 59 + + — 26,839 35,711 19,235,778 52,849 82,124 19,140 39,124 + — + + 12,990 — +3,480,404 + 26 1,194 2,568 425 2,746 3.4P 4,555 Form FR-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON FEBRUARY21,1940 (In thousands of dollars) ASSETS Total Boston New York Phila. Gol'd certificates on hand and due from U.S.Treasury 15,619,619 Redemption fund - F.R.notes 10,118 Other cash 387,624 893,136 7,709,967 1,798 721 34,749 94,315 825,528 743 32,025 973,801 406,395 301,811 2,409,439 429,777 244,235 350,045 229,030 320 541 1,350 867 1,277 697 177 411 27,636 25,723 21,797 49,996 16,336 8,^57 19,791 15,769 846,455 1,216 Total reserves 928,606 7,806,080 858,.296 1,001,978 433,468 324,475 2,460,712 446,810 253,369 370,247 245,119 888,301 16,017,^61 Bills discountedt Secured by U.S. Gov't obligations, direct and guaranteed 520 Other bills discounted 6,264 CIeve. 63 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. ' Dallas San Fran. 31 39 164 58 415 203 484 473 695 137,084 63,135 54,495 115,581 57,447 45,945 144,872 60,273 39,771 62,897 51,196 122 ,1^8 50,818 33,533 53,031 43,167 110,797 93,418 752,33? 203,155 252,665 125,582 100,440 267,020 111,091 73,304 115,928 94,363 204,215 756,728 18 3,177 138,279 9,876 17,924 253,568 126,863 101,566 268,007 111,303 73,682 116,736 95,050 * 6 1 1 1 723 2,373 1,947 1,208 1,597 81,114 26,695 16,014 26,008 21,593 3,334 2,244- ' 1,393 3,229 1,169 1,359 2,781 2,433 6,264 2,632 205,383 4 1,755 30,975 2,947 5,444 125 145 2,206 110 562 533 316 10 321 Industrial advances 10,485 U. S. Government securities, direct and guaranteed: Bonds 1,344,045 Notes 1,133,225 125 1,423 2,351 2,040 672 3,108 601 302 347 934 331 795 96,123 81,047 408,181 344,156 Total U. S. Gov't securities, direct and guaranteed 2,477,270 177,170 178,718 Total bills discounted 6,784 Total bills and securities 2.494.539 Due from foreign banks 47 F. R. notes of other banks 22,084 Uncollected items 598,495 Bank premises 11,192 Other assets 61,460 UOTJIL ASSETS — 3 677 57,937 2,885 4,077 40,630 110,221 92,934 206,935 5 795 50,266 4,562 5,088 2 4 2 1,240 4,470 2,122 75,595 51,323 22,696 2,030 5,535 2,533 6,856 3,658 2,439 630 24 201 40 147 654 201 11 187 191 333 — 639 639 169 19,235,770 1,172,903 8,732,082 1,125,947 1,344,776 622,322 455,330 2,821,860 591,632 347,425 520,599 366,093 1,134,809 *Less than $500. Form ra-283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BA1IKS ON FEBRUARY 7, 1940 (In thousands of dollars) L IAB IL IT IES Total F. R* notes in actual cir4,836,768 culation Deposits i Member bank-reserve account 12,096,727 Treasurers-General account 631,565 Foreign bank 3 38,273 Other deposits 354,408 Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES 13,470,873 575,359 2,415 Boston New York Phila. 399,215 1,228,400 342,576 453,272 216,732 159,120 1,067,124 190,182 140,167 180,773 80,677 378,530 602,603 6,701,841 56,717 159,031 28,541 138,313 4,975 255,3m 607,517 26,920 37,842 26,506 680,718 297,025 211,314 1 ,429,336 314,936 138,141 260,067 215,648 53,558 22,550 27,746 146,112 27,448 31,626 2.3,007 23,289 35,912 l6,6o4 13,515 46,338 11,504 8,495 11,190 11,504 540 2,706 10,672 5,912 0,622 3,615 9,245 5,492 621,581 33,553 28,247 20,726 692,836 7,254,574 780,860 342,091 261,197 1 ,625,401 363,213 183,754 302,020 253,227 69,444 48,278 22,151 04,413 27,372 14,254 26,430 20,936 704,107 Cleve. 56,326 127,153 698,793 51,679 257 502 296 Rich. Atlanta Chicago St •Louis Minn. Kans.Cy. Dallas San Fran. 58 282 100 307 56 120 221 26,923 94 114 18,805j415 1 ,140,634 8,610,629 1 ,093,344 1,,311,058 607,159 442,560 2,777,245 580,023 330,303 510,2/4 354,934 1,109,674 CAPITAL ACCOUN T S Capital paid in 136,093 Surplus (Section 7) 151,720 Surplus (Sect-ion 13b) 26,039 Other capital accounts 35,711 9,349 10,405 2,874 1,641 51,179 53,326 7,109 9,039 11,920 14,198 4,393 2,092 13,980 14,323 1,007 3,608 5,223 5,247 3,246 1,447 4,667 5,725 713 1,657 13,564 22.,024 1,429 6,790 4,096 4,709 538 1,466 2,959 3,152 1,001 2,010 4,370 3,613 1,142 1,230 4,034 3,974 1,266 1,835 10,702 10,224 2,121 2,000 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 19,235,778 1,172,903 8,732,002 1,125,947 1,,344,776 622,322 455,330 2,021,060 591,632 347,425 520,599 366,093 1,134,809 Commitments to make industrial 61 512 — advances 20 3,215 151 8,350 737 75 364 1,757 427 1,031 Total Bids discounted 6,784 Industrial advances 10,485 U# S, Government securities, dire'ct and guaranteed 2,477,270 TJithin 15 days 773 1,439 16 to 30 days 1,641 159 -— MATURITY DISTRIBUTION OF' BILLS AND SECURITIES 2 Years to 6 months 1 Year 61 to 91 days to 31 to 6 months 5 Years to 1 Year to 2 Years 90 days 60 days 3,818 355 184 523 — — Over 5 Years . 66 131 1,872 2,112 2,170 2,026 136,783 105,974 281,368 693,971 1,259,174 Form FR-283-a FEDERAL RESERVE NOTE STATEMENT ON FEBRUARY 7, 1940 (in thousands of dollars) Total Boston New York Phila# Cleve. Rich. Atlanta Chic-.go St. Louis l.Iinn. Kans. Cy. Dallas San Fran, Federal Reserve notest Issued to F.R. bank by F^R.agent 5,-160,100 423,273 1,322,573 361,435 430,346 230,704 170,959 1,114,987 200,856 144,429 188,073 88,842 433,623 Held by Federal Reserve bank 323,332 24,058 94,173 18,859 27,074 13,972 11,<339 47,863 10,674 4,262 7,300 8,165 55,093 In actual circulation 4,836,768 399,215 1,228,400 34-2,576 453,272 216,732 159,120 1,067,124 190,182 140,167 180,773 80,677 378,530 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,305,000 440,000 1,340,0n0 375,000 482,000 250,000 180,000 1,130,000 209,000 147,500 195,000 92,500 464,000 1,152 125 202 150 — 132 — — — 52 491 ~ 5,306,152 440,125 1,340,202 375,150 482,000 250,132 180,000 1,130,000 209,000 147,552 195,491 92,500 464,000
@FedFRASER