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Forri F. R, 283 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 3 ? not earlier, Board of Governors of the Federal Reserve System January-2-,- 194& CONDITION OF THE FEDERAL RESERVE BANKS During the week ended December 31 member bank reserve balances increased $189,000,000. Additions to member bank reserves arose from decreases of $84,000,000 in money in circulation and $113,000,000 in Treasury deposits with Federal Reserve Banks, and increases of $65,000,000 in gold stock and $$¡,000,000 in Treasury currency, offset in part by a decrease of $62,000,000 in Reserve Bank credit and an increase of $16,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on December 31 were estimated to be approximately $6,620,000,000, an increase of $180,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended December 31 , 1940, were as follows» Increase or decrease since Dec. 31j 1940 Dec. 24, 1940 Jan, 3> 1940 (in millions of dollars) Bills discounted U. S. Gov’ t securities,direct and guaranteed Industrial advances(not including 5 million commitments - December 31 ) 8 Other Reserve Bank credit 3 2,184 - 1 - - ----------80 - 6l 4 - 300 + 3 18 Total Reserve Bank credit Gold stock Treasury currency 2,274 21,995 3,087 - 62 + 65 + 5 - 290 +4,298 + 124 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. Banks Honmember deposits and other F, R. accounts 14,026 8,733 2,212 368 2,016 +189 - 84 - 1 -113 + 16 +2,305 +1,152 - 155 - 283 +1,112 Fora F. R. 283-a Released for publication Friday morning, January 3 » 19-41; not earlier* STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands Of dollars) Increase or decrease since <Tcm# 3 $ Dec. 24, Dec» 31, 1940 1940 1940 ASSETS Gold certificates on hand and 4*4944^ p£>60 due from U. S. Troaaury + 69,999 19,750,781 211 Redemption fund - F. R. notes 9,692 - 1,536 Other cash + 46,548 40,460 275.109 Total reserves +115,011 +4,405,989 20,035,582 Bills discounted» Secured by U. S. Gov’ t obligations, + 948 direct and guaranteed 228 851 Other bills discounted 2,064 4,121 r . .W Total bills discounted - 1,285 2,915 3,893 — Industrial advances 60 3,345 7,538 U. S. Government securities, direct and guaranteed» — 66,445 -r — 1,28-4,600 Bonds ----- 233,725 899,500 Notes Total U. S. Government securities, ----direct and guaranteed - 300,170 2,18-4,100 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,19-4,553 47 31,628 912,398 40,062 47.596 - 1,345 _ _ + 5,086 - 2,026 - 1,126 + 665 - 307,408 - 1,838 + 71,303 1,674 — 10,658 23,261,866 +116,265 +4>159?390 5,930,997 - 33,941 + 983,234 14,025,633 368,481 1,132,909 599,544 16,126,567 832,779 +188,390 -113,013 + 21,647 r .__66J + 96,361 + 58,854 4-2,305,011 - 282,594 + 730,484 + 3.48,472 + 3 ,101,373 + 53,702 2,196 22,892,539 7. -2*241 +118>033 + 864 +4,239,173 138,579 157,064 26,785 46,899 23,261,866 + 312 + 5,344 54 r... 7J20 + 116,265 + 2,690 + 5,344 54 + 12,237 +4,159,390 90,8$ 5,226 + .2 % - 1,027 + L I A B I L I T I E S F. R. notes in actual circulation Deposits» Ilenber bank - reserve account U. S. Treasurer - General account Foreign Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES 0A 1 1 1 A L AC C O U N T S 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 3.8% 3,228 Form F. R. 28>-b STATEMENT OF OOIIDITION OF THE FEDERAL RESERVE BANKS OU DEC3.I3ER 31 , 1940 (in thousands of dollars) ASSETS 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 19,750,781 1,136,171 9,757,527 1,046,557 1,331,413 553,294 334,635 2,899,447 494,577 311,096 420,712 280,159 1,135,193 Redemption fund - F.R.notes 9,692 1,213 972 1,073 660 1,108 629 1,229 169 332 410 509 1,388 Other cash 275,109 26,617 51,324 18,754 19,963 18,806 19,055 36,352 16,482 6,576 15,285 14,010 31,885 Total reserves 20,035,582 1,164,001 9,809,823 1,066,384 1,352,036 573,308 404,319 2,937,028 511,228 318,004 436,407 294,673 1,168,466 Bills discounted} Secured by U. S. Gov’ t obligations. direct and guaranteed 851 Other bills discounted 2,064 — 100 — 245 491 187 278 150 150 10 41 2 36 736 300 250 51 781 38 334 ----- 157 28 109 107 157 28 216 ----- 48 667 715 80 --- ----- 4o 69 4o 278 69 545 Total bills discounted 2,915 Industrial advances 7,533 11» S. Government securities, direct and guaranteed: Bonds 1,284,600 899,500 Notes 100 974 1,756 465 2,052 92,213 64,568 379,572 265,783 107,638 75,369 128,649 68,168 49,278 90,082 47,732 34,506 146,651 55,508 36,611 62,958 49,948 102,688 38,868 25 ,636 44,085 34,974 107,406 75,209 Total U. S. Gov’ t securities direct and guaranteed 2,184,100 156,781 645,355 183,007 218,731 115,900 249,339 94,376 62,247 107,043 84,922 182,615 157,855 647,847 18 4,773 234,525 9,701 13,228 185,524 5 1,865 63,085 4,501 4,909 219,281 116,732 84,156 2 2 4 1,947 3,328 3,385 102,207 76,132 43,435 2,590 1,991 4,587 5,074 2,756 1,766 249,765 94,404 62,682 107,838 85,240 * a 1 1 1 4,136 2,896 1,514 2 ,26l 1,024 126,885 52,651 19,555 36,161 29,530 3,059 1,226 3,040 2,318 1,367 2,198 1,865 5,069 1,917 1,396 183,229 4 3,864 45,638 2,849 4,250 Total bills and securities Due from foreign banks F.R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,194,553 47 31,628 912,398 40,062 47,596 3 635 82,594 2,833 3,168 83,784 269 ----- 219 23,261,866 1,411,089 10,719,915 1,326,273 1,685,136 774,748 539,054 3,325,929 665,415 404,518 587,925 413,564 1,408,300 *Less than $500. Form F. R. 283~c STATEMENT OF ODÏîDITI0H OF THE FEDERAL RESERVE BANKS ON DECEMBER 31 , 1940 (In thousands of dollars) LIABILIT IE S Total F. R. notes in actual cir culation 5,930,997 Deposits! Member bank—reserve acct.14,025,633 U.S.Treasurer-General acct. 3*68,481 Foreign 1,132,909 Other deposits 599,544'Total deposits 16,126,567 ¿Deferred availability items 832,779 Other liabilities including accrued dividends 2,196 Boston New York Phila. 479,728 1,576,404 410,704 540,941 283,520 195,853 1,262,396 221,148 158,709 211,215 97,865 492,514 756,465 7,556,979 6,044 131,605 54,872 633,979 8,236 492,197 703,580 13,664 75,944 26,675 920,969 354,132 246,999 1,711,100 326,872 174,476 279,690 240,275 16,328 12,636 12,547 84 >537 23,893 22,857 16,861 10,926 92,992 23,240 17,049 22,473 23,248 72,069 33,322 27,123 5,324 7,167 5,376 13,164 2,4-46 4,774 4,245 5,481 754,096 16,583 56,590 24,459 825,617 8,814,760 201,083 79,913 819,863 1,014,140 404,335 292,150 1,893,953 3^1,180 219,758 332,188 276,895 60,412 95,814 70,836 37,533 122,197 51,417 16,344 33,301 27,399 851,728 36,530 269 175 875 Cleve. 149 Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas 246 80 153 56 81 48 61 San Fran. 3 TOTAL LIABILITIES 22,892,539 1,305,527 10,592,422 1,.291,854 1,651,044 758,937 525,616 3,278,699 653,001 394,892 576,752 402,220 1,300,775 CAPITAL A C C O U N T S 4,462 4,208 14,198 5,366 4,693 11,619 51,096 11,882 14,533 4,212 2,975 Capital paid in 138,579 9,335 22,824 3,152 3,974 10,785 5,247 4,925 5,725 15,144 3,613 56,44-7 Surplus (Section 7) 157,064 10,905 14,323 1,000 2,121 1,263 1,429 1,138 3,244 1,007 7,070 533 2,074 713 Surplus (Section 13b) 26,785 4,393 1,960 8,444 1,944 2,499 1,899 3,000 2,307 4,564 1,954 2,448 12,880 3,000 Other capital accounts 46,899 TOTAL LIABILITIES A15D CAPITAL ACCOUNTS 23 ,261,866 1,411,089 10,719,915 1,326,273 1,685,136 774,748 539,054 3,325,929 665,4-15 404,518 587,925 413,564 1,408,300 Commitments to make industrial 50 4 2,441 24 540 --299 35 162 727 700 244 advances 5,226 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 2 Years to Over Within 16 to 31 to 6l to 91 days to 6 nonths 1 Year 30 days 60 days 90 days 6 months to I Year to 2 Years Total 15 days 5 Years 5 Years 1,370 209 693 154 472 17 Bills discounted 2,915 2,309 1,528 49 125 170 561 1,311 1,485 Industrial advances 7,530 U. S. Government securities, 633,400 1 ,135,800 100,000 181,800 58,300 74,800 direct and guaranteed 2,184,100 Form F. R. 283-d FEDERAL RESERVE HOTS STATEMENT Oil DECB.IBER 31, 1940 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis liinn. Kims. Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R. Bank by F.R,agent Held by Federal Reserve Bank 6,256,650 502,343 1 ,660,126 429,044 569,587 299,792 220,270 1,294,126 234,319 163,870 219,247 106,582 557,344 325,653 22,615 83,722 18,340 28,646 16,272 24,417 31*730 13,171 5,161 8,032 8,717 64,830 In actual circulation 5,930,997 479,728 1,576,404 410,704 540,941 283,520 195,853 1,262,396 221,148 158,709 211,215 97,865 492,514 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 6,379,500 510,000 1,685,000 440,000 575,000 315,000 225,000 1,310,000 244,000 165,500 225,000 111,000 574,000 1,688 100 331 372 - 10 - - 190 685 - - 6 ,381,188 510,100 1,685,331 440,372 575,000 315,010 225,000 1 ,310,000 244,000 165,690 225,685 11^,000 574,000
@FedFRASER