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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Friday morning, May 24; not earlier. Board of Governors of the Federal Reserve System May 23, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 22 member bank reserve balances increased $129,000,000. Additions to member bank reserves arose from increases of $122,000,000 in gold stock, $3,000,000 in Treasury currency, and $2,000,000 in Reserve bank credit, and decreases of $55,000,000 in Treasury deposits with Federal Reserve banks and $19,000,000 in Treasury cash, offset in part by increases of $15,000,000 in money in circulation and $57,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on May 22 were estimated to be approximately $6,370,000,000, an increase of $70,000,000 for the week. The principal change in holdings of bills and securities was an increase of $3,000,000 in United States Government securities, direct and guaranteed: holdings of bonds increased $2,0C0,000 and of notes $1,000,000. Changes in member bank reserve balances and related items during the week and the year ended May 22, 1940, woro as follows: Increase or decrease since May 22, 1940 May 15, 1940 May 24, 1939 (in millions of dollars) Bills discounted Bills bought U.S. Gov't securities,direct and guaranteed Industrial advances (not including 9 million commitments - May 22) Other Reserve bank credit 2 - 1 2 1 2,477 + 3 87 4 37 9 32 Total Reserve bank credit Gold stock Treasury currency 2,520 19,071 3,007 + 3 56 +3,144 + 148 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F.R. banks Nonmember deposits and other F.R. accounts 13,223 7,613 2,20-4 370 1,189 +129 + 15 - 19 - 55 + 57 +3,126 + 720 Ida - 5U5 + 377 + 2 +122 Form FR-283-a Released for publication Friday morning, May 24,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE -FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since 1toy 24, May 15, May 22, 1939 1940 1940 ASSETS Gold certificates on hand and due from U. S. Treasury 16,841,976 +150,001 +3,559,258 Redemption fund - F. R. notes 1,352 1,635 7,737 Other cash 7,704 4,237 374,374 Total reserves +144,412 +3,549,919 17,224,087 Bills discounted! Secured by U. S. Gov!t obligations, direct and guaranteed 1,114 + 413 1,093 Other bills discounted 908 614 1,234 Total bills discounted 1,728 2,327 495 — Bills bought in open market 561 Industrial advances 60 9,232 3,593 U. S. Government securities, direct and guaranteed: Bonds + 2,150 + 435,905 1,3^6,995 Notes 45,984 + 900 1,130,125 — Bills 476,816 Total U. S. Government securities, direct and guaranteed + 3,050 2,477,120 86,895 - - - - - - - - - - - 2,495 - - Total bills and securities Due from foreign banks F. R.notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS LIABILITIES F. 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 2,488,679 47 21,377 664,147 41,595 62,465 + _ — - + 122 -123,977 + 42 + 705 + + - + 92,777 114 1,570 70,261 928 9,373 20,502,397 + 23,799 +3,537,304 4,984,611 + 15,876 + 13,222,502 370,008 449,854 484,761 14,527,125 632,653 +128,828 54,626 + 48,924 + 7,875 +131,001 -123,552 +3,125,880 545,377 + 168,313 + 208,534 +2,957,350 + 33,409 4,728 20,149,117 + 228 + 23,553 233 +3,528,758 136,127 151,720 26,839 38,594 20,502,397 + 19 + + 227 + 23,799 + 88,3% 8,883 + + - - - - + - .1% 50 538,232 1,179 2,568 425 5,224 +3,537,304 - 2.9?o 2,752 Form FR-283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ONAPRIL24, 1940 (in thousands of dollars) A S S E T S Total Boston New York Gold certificates on hand and due from U.S. Treasury 16,841,976 Redemption fund - F.R.notes 7,737 Other cash 374,374 911,717 8,411,417 201 944 929,668 1,056,283 414,313 325,725 2,634,384 369,379 250,672 352,790 229,991 ^ ^ J-i ** 806 ^ ^ 522 7 594 736 756 480 514 245 413 955,637 1 li^ 1,426 944,541 8,524,347 957,786 1,081,355 436,223 344,616 2,684,444 388,047 259,194 371,173 245,753 986,608 Total reserves 17,224,087 Bills discounted! Secured by U. S. Gov't obligations, direct and guaranteed 1,093 Other bills discounted 1,234 Phila* Cleve. Rich. Atlanta 61 29 23 37 30 70 20 67 439 2,028 90 2,657 60 363 100 912 87 279 37 16 235 204 53 1,168 Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. — 35 500 120 80 65 15 250 34 305 23 71 35 338 620 60 145 174 265 104 339 476 94 673 — Total bills discounted 2,327 Industrial advances 9,232 U. S. Government securities''t direct and guaranteed: Bonds 1,346,995 Notes 1,130,125 Total U. S. Gov't securities. direct and guaranteed 2,477,120 98,199 82,387 404,247 339,160 107,604 90,279 137,752 68,663 56,851 115,574 57,610 47,699 147,369 61,672 40,510 62,096 51,835 123,644 51,742 33,987 52,098 43,490 110,197 92,455 180,586 743,407 197,883 253,326 136,273 104,550 271,013 113,414 74,497 114,194 95,325 202,652 Total bills and securities 2,488,679 181,807 745,874 200,630 271,386 114,094 74,816 114,563 96,140 203,419 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets 47 21,377 664,147 41,595 62,465 3 852 63,313 2,871 4,241 18 1,612 161,663 9,839 18,036 5 884 52,973 4,530 4,951 253,749 127,285 104,916 2 2 4 1,546 3,082 2,209 76,799 55,438 26,480 2,019 2,519 5,485 2,576 6,955 3,613 1 1 585 2,405 27,658 22,832 3,181 1,153 2,769 2,647 4 2,204 36,473 2,920 5,493 TOTAL ASSETS * 6 1 1,282 2,741 1,975 92,949 30,086 17,483 1,386 2,325 3,367 1,929 6,524 2,731 20,502,397 1,197,628 9,461,389 1,221,759 1,425,893 628,162 482,818 3,061,417 539,259 356,090 521,750 369,111 1,237,121 *Less than $500. Form FE-283-C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON MAI 22, 1940 (In thousands of dollars) L I A B I L I T I E S rotal F. R. notes in actual circulation 4,984,611 Deposits: Member bank-reserve acct. 13,222,502 U.S.Treasurer-General acct. 370,008 Foreign bank 449,854 Other deposits 484-,761 Total deposits 14,527,125 Deferred availability items 632,653 Other liabilities including accrued dividends 4,728 Boston New York Phila. Cleve. 407,516 1,313,809 347,693 455,052 216,032 160,936 1,095,845 192,162 142,357 182,373 78,576 392,260 647,487 7,213,805 16,929 117,858 32,519 156,592 7,201 389,749 700,067 25,481 44,580 18,378 788,506 52,238 264,638 .214,657 23,912 24,334 13,192 13,647 434 3,340 302,176 255,978 26,503 23,111 705,337 23,669 33,296 23,151 704,136 7,878,004 61,060 145,871 792,972 302,378 231,565 1,726,653 266,689 156,254 21,894 16,369 25,632 36,588 19,421 17,921 42,305 19,560 15,921 54,587 13,647 10,008 8,151 4,605 10,718 5,905 5,232 7,897 865,322 342,912 283,836 1,825,725 305,662 189,415 71,812 53,713 25,010 94,317 30,342 14,944 175 299 440 1,403 462 485 Rich. Atlanta 160 190 TOTAL LIABILITIES 20,149,117 1,173,152 9,339,087 1,188,899 1,392,671 612,817 469,972 CAPITAL ACCOUNTS Capital paid in 11,918 13,997 5,276 4,632 136,127 51,045 9,332 Surplus (Section 7) 14,198 14,323 5,247 5,725 10,405 151,720 53,326 Surplus (Section 13b) 713 1,007 3,246 4,393 2,874 7,109 26,839 Other capital accounts 3,895 1,576 1,776 1,865 2,351 10,822 38,594 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 20,502,397 1,197,628 9,461,389 1,221,759 1,425,893 628,162 482,818 Commitments to make industrial advances 8,883 322 839 1,145 1,173 696 516 MATURITY DISTRIBUTION OF BILLS Within 16 to 31 to 61 to 91 days to Total 15 days 30 days 60 days 90 days 6 months Bills discounted 2,327 1,386 167 196 171 407 Industrial advances 9,232 796 897 142 622 1,609 U. S. Government securities, direct and guaranteed 2,477,120 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 542 133 186 253 785,453 33,732 3,016,429 528,299 346,902 511,305 357,840 1,211,744 13,629 22,824 1,429 7,106 533 1,001 4,378 3,613 1,142 1,582 2,079 1,312 4,131 4,709 2,956 3,152 4,119 3,974 1,266 1,912 10,714 10,224 2,121 2,318 3,061,417 539,259 356,090 521,750 369,111 1,237,121 3,775 167 57 18 175 M P SECURITIES 2 Years to Over 6 months 1 Year to 2 Years 5 Years 5 Years to 1 Year 1,146 1,908 224,796 248,417 2,112 732,608 1,271,299 Form FR—283-d FEDERAL RESERVE NOTE STATELIEST ON MAY 22, 1940 (In thousands of dollars) Total Boston Nov; York Phila. Federal Reserve notes* Issued to F.R. bank by F.R.agent Held by Federal Reserve bank In actual circulation Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 5,318,607 424,228 1,421,516 364,662 482,048 233,222 174,313 1,138,343 204,098 147,499 194,935 86,207 447,536 333,996 16,712 107,707 16,969 26,996 17,190 13,377 42,498 11,936 5,142 12,562 7,631 55,276 4,984,611 407,516 1,313,809 347,693 455,052 216,032 160,936 1,095,845 192,162 142,357 182,373 78,576 392,260 Collateral hold by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,435,500 440,000 1,445,000 375,000 484,000 250,000 180,000 1,150,000 209,000 148,500 200,000 90,000 464,000 1,657 53 439 90 - 100 - - 565 145 265 - 5,437,157 440,053 1,445,439 375,090 484,000 250,100 180,000 1,150,000 209,565 148,645 200,265 90,000 464,000
@FedFRASER