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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, March 22% not earlier. Board of Governors of the Federal Reserve System March 21, 1940 CONDITIOII OF THE FEDERAL RESERVE BALKS During the week ended March 2.0 member bank reserve balances decreased $183,000,000. Reductions in member bank reserves arose from increases of $181,000,000 in Treasury deposits with Federal Reserve banks, $21,000,000 in money in circulation, $46,000,000 in nonmember deposits and other Federal Reserve accounts and $12,000,000 in Treasury cash, and a decrease of $4,000,000 in Reserve bank credit, offset in part by increases of $78,000,000 in gold stock and $4,000,000 in Treasury currency. Excess reserves of member banks on March 20 were estimated to be approximately $5,590,000,000, a decrease of $190,000,000 for the week. Holdings of United States Government bonds, direct and guaranteed, declined $2,000,000 during the week. Changes in member bank reserve balances and related items during the week and the year ended March 20, 1940, were as follows: Increase or decrease since Mar. 20, 1940 Mar. 13, 1940 Mar. 22, 1939 (In millions of dollars) Bills discounted Bills bought U.S. Gov't securities,direct and guaranteed Industrial advances (not including 9 million commitments - March 20) Other Reserve bank credit 2 - 1 - 1 1 89 2,475 ~ 2 10 32 - 2 4 41 - - Total Reserve bank credit Gold stock Treasury currency 2,520 18,360 2,989 - 4 + 78 + 4 53 +3 ,285 •f 155 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks llonmember deposits and other F. R. accounts 12,256 7,484 2,374 707 1,047 -183 +3 ,267 + 726 369 515 + 278 + 21 + 12 >181 + 46 -Porn PB-283-a Released for publication I^riday morning, March 22,1940; not earlier. STATELIEST OF CONDITION OF THE T7JELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since lar. 22, Mar. 20, Liar. 13 j 1940 194-0 1939 ASSETS Gold certificates on hand and 15,997,522 due from U.S. Treasury + 65,001 +3,679,901 1,829 Redemption fund - F. R. notes B, 334 - 1,026 361.786 752 Other cash 33*765 +3,644,307 Total reserves 16,367,7-42 + 63,223 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 of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 3 34 1.632 1,966 35 988 - 1,023 - + - - -1- 75 2,000 - 1,537 64 1,473 554 3,593 + 430,955 42,884 476,816 - 1,342,045 1,133,225 - 2,475,270 - 2,000 2,487,734 47 17,604 721,035 41,689 57,081 - 2,948 - - - - - 880 8,868 14 - 12,459 + 88,745 - + - + 94,365 121 1,840 128,202 1,034 9,697 19,692,932 + 55,790 +3,684,846 4,895,040 +13*294 + 12,256,250 707,493 390,780 399,786 13,754,309 688,626 -182,330 +181,106 + 2.6,374 + 9,910 + 35,060 + 10,181 +3,267,069 514,713 + 156,019 + 123,450 +3,031,825 + 86,447 19,341,358 - 3*077 + 55,458 L I A B I L I T I E S F. R. notes in actual circulation Deposits: I.Ienber bank - reserve account U#S, Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends TOTAL L I A B I L I T I E S CAPITAL A C 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 136,107 151,720 26,839 36,908 19,692,932 87*8fb 9,080 + 5 559,632 290 +3,677,614 - + + 1,101 2,568 4-25 + . 327 + 55,790 + +3,684,846 + + .1% - 3*3% 3, Form i«R~283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MARCH 20, 1940 (in thousands of dollars) ASSETS Total Gold certificates on hand and due from U.S.Treasury 15,997,622 Redemption fund - F.R.notes 8,334 Other cash 361,786 Boston New York Phila. 909,456 7,932,407 536 1,155 31,184 90,341 875,221 527 28,110 999,168 425,762 309,995 2,414,095 •388,326 269,408 359,179 236,541 348 722 642 800 634 290 1,007 604 9,866 20,156 14,610 25,344 22,263 19,883 47,301 16,287 878,064 1,069 36,441 Total reserves 941,176 8,023,903 903,858 1,025,312 448,629 330,600 2,462,403 405,247 279,916 379,683 251,441 915,574 14 146 28 137 136 160 118 480 165 686 60,199 39,720 62,820 51,129 50,832 33,541 53,044 43,173 110,635 93,422 16,367,742 Bills discounted: Secured by U. S. Gov*t obligations, direct and guaranteed 334 Other bills discounted 1*632 Total bills discounted 1,966 55 - - Cleve* Rich. Atlanta Chicago St Louis Minn. Kans.Cy. Dallas San Fran. 35 477 45 l4l 13 135 15 121 50 87 54 141 148 136 137 800 195 336 25 22 89 47 183 512 186 Industrial advances 10,498 U. S. Government securitie s? direct and guaranteed: Bonds 1,342,045 Notes 1,133,225 55 1,411 2,048 3,211 95,983 81,049 407,496 344,089 110,049 92,927 136,881 68,047 54,420 115,581 57,459 45,952 144,666 122,156 Total U. S. Govft securities, direct and guaranteed 2,475,270 177,032 751,585 202,976 252,462 125,506 100,372 266,822 111,031 73,261 115,864 94,302 204,057 Total bills and securities 2,487,734 178,498 754,145 206,373 252,926 12.6,551 101,309 267,353 111,120 73,491 116,118 94,942 204,908 47 17,604 721,035 41,689 57,081 3 545 68,476 2,880 3,781 18 1,325 168,577 9,858 16,611 5 887 55,719 4,551 4,719 2 3,030 34,607 2,024 2,259 6 1 2,422 2,091 99,002 30,853 2,248 3,379 5,812 2,430 Due from foreign banks F.R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 316 909 2 4 1,408 1,865 81,988 64,542 5,510 2,532 6,375 3,397 89 136 * 1 1 450 710 1,581 17,045 30,642 28,547 1,165 1,391 3,213 2,328 1,724 2,556 4 1,290 41,037 2,938 5,089 19,692,932 1,195,359 8,974,43*7 1,176,112 1,373,523 647,518 473,831 2,840,377 553,990 374,277 533,794 378,874 1,170,840 *Less than $500. Form FR-2S5-C STATEMENT OF CONDITIOII OF THE FEDERAL RESERVE BANKS ON MARCH 27, .1940 £ln thousands of cellars) L I A B I L I T I E S Total F. R. notes in actual circulation 4,895,048 Deposits? Member bank-reserve account12,256,250 U.S.Treasurer-General account 707,493 Foreign bank 390,780 Other deposits 399,786 Total deposits 13,754,3^9 Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES CAPI_TAL 688,626 3,375 Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans* Cy. Dallas San Fran. 403,120 1,265,109 346,071 452,729 219,959 158,850 1,074,142 192,115 141,177 182,273 80,089 379,4l4 616,124 6,827,831 49,559 150,811 27,624 143,127 7,011 310,123 613,327 66,555 37,622 24,179 695,575 287,626 220,792 1,452,288 361,431 159,927 263,580 207,625 66,195 42,414 27,315 120,795 40,279 36,670 35,699 39,329 35,702 16,507 13,436 46,067 11,517 8,445 11,133 11,517 11,248 2,325 7,003 3,673 7,145 5,164 314 2,347 650,124 31,872 28,086 19,254 700,315 7,431,892 67,244 154,758 741,683 808,720 348,872 268,546 1,622,823 320,372 210,206 310,726 260,818 729,336 36,655 315 873 55,272 386 78,651 63,316 349 93 33,543 125 98,211 30,551 13,613 430 114 139 30,171 26,641 238 120 193 19,341*358 1,170,994 8,852,632 1,143,412 1,340,449 6^2,240 461,064 2,795,606 543,152 365,135 523,408 367,668 1,145,598 A C C O U N T S Capital M i d in Surplus (Section 7) Surplus (Section 13b) Other capital accounts 136,107 151,720 26,839 36,908 9,341 10,405 2,874 1,745 51,106 53,326 7,109 10,264 11,905 14,198 4,393 2,204 14,010 14,323 1>007 3,734 5,271 5,247 3,246 1,514 4,631 5,725 713 1,698 13,589 22,824 1,429 6,929 4,114 4,709 538 1,477 2,953 3,152 1,001 2,036 4,376 3,613 1,14-2 1,255 4,101 3,974 1,266 1,865 10,710 10,224 2,121 2,187 TOTAL LIABILITIES AND 19,692,932 1,195,359 8,974,437 1,176,112 1,373,52.3 647,518 473,831 2,840,377 553,990 374,277 533,794 378,874 1,170,840 CAPITAL ACCOUNTS Commitments to make industrial 3,750 60 485 - 711 1,115 755 17 20 151 342 1,674 advances MATURITY DISTRIBUTION OF BILLS AND SECURITIES Over 6 months 2 Years to 1 Year 61 to 16 to Within 91 days to 31 to 5 Years 5 Years to 2 Years 90 days Total 15 days 30 days 6 months . to 1 Tear 60 days 106 161 1,108 541,966 412 125 Bills discounted 1,864 2,512 2,109 1,743 249 299 10,498 1,592 Industrial advances 130 U. S. Government securities, 224,796 735,708 248,417 1,266,349 direct and guaranteed 2,475,270 Forn FR-283-d FEDERAL RESERVE NOTE STATEMENT OF MARCH 20, 1940 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Foderal Reserve notes: Issued to F.R.bank by F.R.agent 5,227,268 421,151 1,358,600 364,029 480,563 234,078 173,075 1,125,187 203,619 145,524 192,291 89,699 439,452 Held by Federal Reserve bank 332,220 18,031 93*491 17,958 27,834 14,119 14,225 51,045 11,504 4,347 10,018 9,610 60,038 In actual circulation 4,895,048 403,120 1,265,109 346,071 452,729 219,959 158,850 1,074,142 192,115 141,177 182,273 80,089 379,414 Collateral held by agent as security for notes issued to bank: Gold certificates 011 hand and due from U. S. Treasury 5,333,500 440,000 1,375,000 375,000 482,000 250,000 175,000 1,130,000 209,000 147,500 195,000 91,000 464,000 Eligible paper 493 55 85 88 - 93 40 25 107 - Total collateral 5,333,993 440,055 1,375,085 375,088 482,000 250,093 175,000 1,130,000 209,040 147,525 195,107 91,000 464,000
@FedFRASER