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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Friday morning, Jan. 26; not earlier. Board of Governors of the Federal Reserve System January 25, 1940. CONDITION OF THE FEDERAL RESERVE BANKS During the week ended January 24 member bank reserve balances increased $128,000,000. Additions to member bank reserves arose from decreases of $40,000,000 in money in circulation and $68,000,000 in Treasury deposits with Federal Reserve banks and from increases of $74,000,000 in gold stock and $1,000,000 in Treasury currency, offset in part- by increases of $20,000,000 in Treasury cash and $34,000,000 in nonmeaber deposits and other Federal Reserve accounts* Excess reserves of member banks on January 24 were estimated to be approximately $5,590,000,000, an increase of $90,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended January 24, 1940, were as follows* Increase or decrease since Jan. 24, 1940 Jan. 17, 1940 Jan. 25, 1939 (in millions of dollars) Bills discounted Bills bought U«S. Gov!t securities, direct and guaranteed Industrial advances(not including 8 million commitments - January 24) Other Reserve bank credit — + — — - 2,477 — - 7 11 19 — - - 1 Total Reserve bank credit Gold stock Treasury currency 2,514 17,879 2,969 - 1 + 74 + 1 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R, banks Nonmember deposits and other F.R. accounts 12,148 7,365 2,381 507 962 +128 - 40 + 20 - 68 + 34 + 2 1 87 A 20 „ 69 ,239 +3 + 157 +2,982 + 742 373 - + 260 236 Form FR-283-a Released for publication Friday morning, Jan. 26,1940; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since ASSETS Gold certificates on hand and due from U. S.Treasury Redemption fund - F. R. notes Other cash Total reserves 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 Jan. 24, 1940 Jan. 17, 1940 Jan. 25, 1939 15,483,120 8,602 41,3,173 15,904,895 + 49,999 7 83 + 26,722 +3,577,903 1,591 — 25,938 +3,540,374 6 M 7,001 + 75,938 + + + 51 54 105 — 10,911 - + + - + 18 + — 1,344,045 1,133,225 — — - — — — 2,477,270 - 2,085 4,391 2,306 556 4,220 503,152 76,706 513,191 — 86,745 - 89,215 — 119 4,041 75,281 1,202 12,665 Total bills and securities 2,495,182 Due from foreign banks F# R. notes of other banks Uncollected items Bank premises Other assets 47 26,266 640,571 41,711 60,70? - 1,629 - 90,682 25 + 826 19,169,375 - 15,44-9 +3,533,743 4,827,752 - 22,005 + 12,147,656 507,485 412,567 300,014 13,367,722 621,950 +128,062 - 67,309 + 16,800 + 17,495 + 95,043 - 89,257 +2 ,981,593 259,694 + 240,996 + 1,801 +2,964,696 1,991 18,819,415 + 493 - 15,721 435 +3,528,045 + + + TOTAL ASSETS LIABILITIES P. R. notes in actual circulation Deposits? Member bank - reserve account U. S« Treasurer - General account Foreign bank 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 135,954 151,720 26,839 35,447 19,169,375 87.4$ 8,395 + 123 —_ 18 — - + - + - + 254 55,483 - - + 508,301 + 1,113 2,568 425 2,44-2 - 15,449 +3,533,743 + + + .155 101 - 3*4$ 4,609 Form PTl-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 24, 1940 (in thousands of doilars) ASSETS Total Boston New lork Phila. Gold certificates on hand and due from U. S. Treasury15,483,120 Redemption fund - F.R. notes 8,602 Other cash 413,173 863,720 7,630,586 1,090 805 96,968 37,125 829,453 949 33,083 972,918 406,717 290,340 2,430,599 419,080 245,510 342,672 225,384 658 1,209 419 519 718 434 195 353 28,147 28,558 2.4,936 53,351 19,027 9,908 22,095 16,^96 826,141 1,253 43,479 Total reserves 901,650 7,728,644 863,485 1,001,723 436,484 315,695 2,484,469 438,825 255,613 365,201 242,233 870,873 15,904,895 Bills discounted» Secured by U. S. Gov't obligations, direct and guaranteed 644 Other bills discounted 6,357 25 — Cleve. Rich. Atlanta Chicago St.Louis 235 2,224 123 548 113 541 44 316 10 341 671 3,130 654 360 351 303 934 693 — — Minn. Kans.Cy. Dallas San Fran. 20 636 216 40 170 328 4 164 30 373 636 216 2,10 848 168 11 743 167 485 403 720 137,084 144,872 60,273 39,771 62,897 51,196 122,148 50,818 33,533 53,031 43,167 110,797 93,418 Total bills discounted 7,001 Industrial advances 10,911 U. S. Government securities, direct and guaranteed: Bonds 1,344,045 Notes 1,133,225 1,353 2,459 2,041 96,123 81,047 344,156 92,934 68,135 54,495 115,581 57,447 45,945 Total U. S. Gov't securities, direct and guaranteed 2,477,270 177,170 752,337 203,155 252,665 125,582 100,440 267,020 111,091 73,304 115,928 94,363 204,215 178,548 756,837 18 3,590 154,674 9,895 17,798 206,956 5 951 48,360 4,573 5,015 253,622 126,876 101,484 2 4 2 1,471 4,504 3,232 73,714 46,656 30,496 5,535 2,545 2,030 2,459 6,755 3,616 267,987 111,318 74,257 116,943 95,016 * 6 1 1 1 3,275 2,174 1,143 1,387 717 90,443 28,736 15,492 28,044 25,879 3,390 2,243 1,396 3,093 1,175 1,846 2,719 2,365 6,193 2,563 205,338 4 3,239 33,475 2,947 5,352 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 2,495,182 47 26,266 640,571 41,711 60,703 25 583 64,602 2,889 4,022 408,181 110,221 331 19,169,375 1,152,297 8,671,456 1,129,345 1,342,824 620,683 455,398 2,855,763 585,860 349,747 517,388 367,386 1,121,228 *Less than $500, Form FR~28>~c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JANUARY 2A, 1940 (in thousands of dollars) LIABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran® F.R. notes in actual circulation 4,827,752 Deposits: Member bank-reserve account 12,147,656 U.S»Treasurer-General account 507,485 Foreign bank 412,567 Other deposits 300,014 397,825 1,226,755 342,242 455,973 218,168 158,070 1,066,036 189,629 138,634 179,161 80,618 374,641 596,500 6,705,2.91 35,004 117,716 29,727 146,227 6,342 214,553 607,958 42,669 40/55 17,054 697,027 297,063 211,005 1,488,113 311,184 150,512 263,127 212,598 39,215 23,552 23,639 98,231 25,328 21,949 24,784 23,114 38,390 17,750 14,448 49,536 12,384 9,082 11,971 12,384 8,129 2,157 7,217 4,059 8,047 7,230 1,057 3,027 607,278 32,284 30,213 21,142 Total deposits 667,573 7,183,787 708,136 782,761 340,522 256,309 1,639,939 356,943 188,773 300,939 251,123 690,917 13,367,722 Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL 621,950 62,411 139,144 46,139 1,991 L99 424 266 70,981 46,729 28,253 243 98 104,924 28,466 13,125 26,856 24,414 35 311 42 101 114 64 30,508 94 18,819,415 1,128,008 8,550,110 1,096,783 1,309,958 605,517 442,667 2,811,210 575,080 340,646 507^057 356,219 1,096,160 ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 135,954 151,720 26,839 35,447 9,373 10,405 2,874 1,637 51,150 53,326 7,109 9,761 11,904 14,198 4,393 2,067 13,966 14,323 1,007 3,570 5,221 5,247 3,246 1,452 4,652 5,725 713 1,641 13,546 22,824 1,429 6,754 4,088 4,709 538 1,445 2,949 3,152 1,001 1,999 4,357 3,613 1,142 1,219 4,082 3,974 1,266 1,845 10,666 10,224 2,121 2,057 19,169,375 1,152,297 8,671,456 1,129,345 1,342,824 620,683 455,398 2,855,763 585,860 349,747 517,388 367,386 1,121,228 Commitments to make industrial advances 8,395 381 1,764 434 1,067 742 77 20 152 63 512 3,183 MATURITY DISTRIBUTION OF BILLS AIID SECURITIES Total Bills discounted Industrial advances U. S. Government securities, direct and guaranteed 7,001 10,911 J,477,270 Within 15 days 16 to 30 days 978 1,468 1,608 97 31 to 60 days 3,717 275 61 to 90 days 403 503 91 days to 6 months 6 months to 1 Year 1 Year to 2 Years 2 Years to Over 5 Years 5 Years 22 273 If 133 2,951 2,354 136,783 105,974 281,368 2,130 695,471 1,257,674 Form FB-2&3~d FEDERAL RESERVE NOTE STATEMENT ON JANUARY 24, 1940 (in thousands of dollars) Total Boston New York Phila. Cleve« Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notesi Issued to F.R. bank by F.R.agent 5,178,093 426,041 1,322,591 365,705 481,778 234,832 171,703 1,111,018 202,256 145,143 189,480 90,267 437,279 350,341 28,216 95,836 23,463 25,805 16,664 13,633 44,982 12,627 6,509 10,319 9,649 62,638 Held by Federal Reserve bank In actual circulation 4,827,752 397,825 1,226,755 342,242 455,973 218,168 158,070 1,066,036 189,629 138,634 179,161 80,618 374,641 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 5,309,000 440,000 1,340,000 375,000 486,000 250,000 180,000 1,130,000 209,000 147,500 195,000 92,500 464,000 1,390 25 315 129 — 145 — — 15 66* 695 — — 5,310,390 440,025 1,340,315 375,129 486,000 250,145 180,000 1,130,000 209,015 147,566 195,695 92,500 464,000
@FedFRASER