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Form FR-2S3 STATEMENT FOR THE PRESS Released for publication Saturday morning, June 1; not earlier* Board of Governors of the Federal Reserve System May 31, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended May 29 member bank reserve balances decreased $8,000,000. Reductions in member bank reserves arose from increases of $72,000,000 in money in circulation, $1-4,000,000 in nonmember deposits and other Federal Reserve accounts and $8,000,000 in Treasury deposits with Federal Reserve banks and from a decrease of $9,000,000 in Reserve bank credit, offset in part by an increase of $91,000,000 in gold stock and a decrease of $4,000,000 in Treasury cash. Excess reserves of member banks on May 29 v/ere estimated to be approximately $6,360,000,000, a decrease of $10,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 29, 1940, were as follows: Increase or decrease since May 29, 1940 May 22, 1940 May 31, 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 29) Other Reserve bonk credit 3 - 1 1 87 - 10 + 3 30 62 +3,205 + 145 + 1 2,477 9 22 Total Reserve bank credit Gold stock Treasury currency 2,511 19,162 3,007 - 9 + 91 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F. R. accounts 13,215 7,6S5 2,200 370 1,203 - s + 72 - 4 + 8 + 14 — +3,186 + 718 - 436 - 542 + 364 Fprn FR~283~a Released for publication Saturday morning, June 1, 1940; not earlier# STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since May 29, 1940 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 16,935,473 9,0a , 359,026 17,303,520 1,760 1,303 3,063 May 22, 1940 Hay 31, 1939 + 93,497 + 1,284 - 15,348 + 79,433 +3,617,751 + 474 + 12,359 +3,630,584 + + 667 69 — + 736 — — - 324 671 995 561 3,326 Bills bought in open market Industrial advances S. Government securities, direct and guaranteed: Bonds Notes Bills Total U. S. Government securities, direct and guaranteed 1,346,995 1,130,125 Total bills and securities 2,489,344 Due from foreign banks F. R* notes of other banks Uncollected items Bank premises Other assets 47 19,262 637,292 41,555 63,561 - 2,115 - 26,355 40 + 1,096 20,554,581 + 52,184 +3,633,038 5,038,386 + 53,775 + 13,215,148 377,749 440,086 509,464 14,542,447 615,189 - 7,354 + 7,741 - 9,768 + 24,703 + 15,322 - 17,464 +3 ,186,094 542,576 + 155,280 + 208,334 +3,007,132 + 55,508 5,181 20,,201,203 + 453 + 52,086 TOTAL ASSETS L I A B I L I T I E S 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 L I A B I L I T I E S 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 - 9,161 - - 71 + —• %mm - — - 2,477,120 136,151 151,720 26,839 38,668 20,554,581 88.456 8,852 — — + — — 665 - - + - + - + 86,895 91,777 114 232 86,063 909 9,423 561,622 - 144 +3,624,118 - 24 + + 74 + - + 435,905 45,984 476,816 1,206 2,568 425 5,571 + 52,184 +3,633,038 + + ,1% 31 - 3.0% 2,678 Form FR-283-b STATEL1EITT OF OOIIDITIOII OF THE FEDERAL RESERVE BAIIKS ON MAI 29, 1940 (in thousands of dollars) ASSETS Total Gold certificates on hand and due from U.S. Treasury 16,935,473 Redemption fund - F.R.notes 9,021 Other cash 359,026 Total reserves Bills discounted: Secured by U. S. Gov't obligations, direct and guaranteed 1,760 Other bills discounted 1,303 Boston Hew lork Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 918,586 8,438,853 218 944 31,102 102,456 899,468 1,079,006 418,845 324,787 .2,681,546 < 377,111 252,216 350,567 230,386 1,806 722 514 522 594 480 637 245 913 6,982 19,551 13,763 25,620 47,584 17,165 22,943 22,395 20,334 964,102 1,426 .29,131 949,906 8,542,253 925,725 1,102,862 443,046 345,601 2,729,644 394,798 259,792 370,363 244,871 994,659 80 16 722 183 65 52 23 37 60 70 24 77 54 10 525 160 115 55 15 264 39 294 38 85 96 905 117 60 130 101 64 685 279 912 269 339 60 333 476 123 355 170 168 Total bills discounted 3*063 Industrial advances 9,l6l U. S. Government securities, direct and guaranteed: Bonds 1,346,995 Notes 1,130,125 1,163 2,028 2,614 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 92,4-55 Total U. S. Gov't securities, direct and guaranteed P,A77jlP0 180,586 743,407 197,883 253,326 126,273 104,550 271,013 113,414 74,497 114,194 95,325 202,652 Total bills and securities 2,489,^44 181,845 746,340 18 1,526 158,427 9,839 18,396 200,614 5 826 49,355 4,520 5,150 253,741 127,315 104,920 2 2 4 2,114 2,909 1,059 80,499 54,442 22,810 2,016 5,486 2,513 7,056 3,690 2,607 271,416 114,159 74,835 114,577 96,134 * 1 6 1 1 1,721 884 4 28 3,060 1,611 88,870 27,798 14,725 26,497 20,754 1,336 3,362 2,322 3,181 1,153 1,926 2,822 2,713 6,639 2,737 203,448 4 2,463 32,816 2,911 5,521 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 47 19,262 637,292 41,555 63,561 661 60,299 2,866 4,304 104 673 20,554,581 1,199,884 9,476,799 1,186,195 1,450,707 633,917 480,070 3,102,997 543,426 354,385 518,325 366,054 1,241,822 *Less than $500. Form FR-283-C STATELIEST OF OORDITIOU OF THE FEDERAL RESERVE EAITKS OR MAI 29, 1940 (In thousands of dollars} L I A B I L I T I E S Total F. R. notes in actual circulation 5,038,386 Deposits: Member bank-reserve acct. 13,215,148 U.S.Treasurer-General acct. 377,749 Foreign bank 440,086 Other deposits 509,464 Total deposits 14,542,447 Deferred availability items 615,189 Other liabilities including accrued dividends 5,181 Boston !Jew York Phila. Oleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 411,985 1,335,121 351,686 459,813 221,348 161,433 1,102,848 193,051 141,839 182,878 78,224 398,160 648,364 7,191,608 16,647 105,373 31,653 154,606 7,755 421,358 665,178 799,350 291,243 240,015 1,765,511 270,301 156,4-35 263,873 217,091 29,139 26,012 22,440 40,614 21,865 18,242 21,048 23,109 27,226 41,186 19,043 15,500 53,1.44 13,286 9,743 12,843 13,286 43,401 8,083 _ 7^262 J±742 4,910 _ 5,847 5_,227 16,571 _ 440_ 2,819 706,179 26,034 32,395 __23_,450 704,419 7,872,945 58,534 144,887 752,376 48,685 474 1,488 578 877,758 343,560 283,697 1,864,179 311,299 189,647 298,204 256,305 79,345 53,479 21,877 90,336 27,958 13,541 26,523 20,050 551 190 207 630 149 164 279 788,058 29,974 193 278 TOTAL LIABILITIES 20,201,203 1,175,412 9,354,441 1,153,325 1,417,467 618,577 467,214 3,057,993 532,457 345,191 507,884 354,772 1,216,470 0! I P I T A L A C C 0 U IT T S Capital paid in 11,918 14,000 5,276 4,632 4,378 4,124 13,649 4,131 2,958 9,332 51,039 10,714 136,151 Surplus (Section 7) 3,613 3,974 14,198 14,323 5,247 5,725 10,405 53,326 151,720 22,824 4,709 3,152 10,224 Surplus (Section 13b) 2,874 1,142 1,266 7,109 26,839 4,393 1,007 3,246 713 1,429 538 1,001 2,121 Other capital accounts 1,861 10.884 38.668 ,._2»36l Jkm__.li271 lt52l. 2*083.. •1*3.08. „1,.2.18... — TOTAL LIABILITIES A1JD CAPITAL ACCOUNTS 20,554,581 1,199,884 9,476,799 1,186,195 1,450,707 633,917 480,070 3,102,997 543,426 354,385 518,325 366,054 1,241,822 Commitments to make industrial advances 8.852 322 831 1,173 693 515 18 57 322 167 - 3,757 1,144 175 MATURITY DISTRIBUTION OF BILLS AIID SECURITIES Total Bills discounted Industrial advances U. S. GcveriiKeiit securities, direct raid guaranteed Within 15 days 3,063 2,081 9,161 1,561 2,477,120 16 to 30 days 206 145 31 to 60 days 208 634 61 to 90 days 136 875 91 days to 6 months 4-32 785 6 months to 1 Year 1 Year to 2 Years 1,142 1,907 224,796 248,417 2 Years to 5 Years Over 5 Years 2,112 732,608 1,271,299 Form FR-283-C FEDERAL RESERVE HOTS STAIIIEIIT ON MAY 29, 1940 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Kans.Cy. Dallas San Fran. Federal Reserve notes J Issued to F.R. bank by F.Reagent Held by Federal. Reserve bank 5,349,723 4-25,623 1,432,609 ^67,213 482,615 236,934 174,920 1,145,939 203,968 1/7,258 193,151 85f56n 453,853 311,337 13,638 >7,560 15,527 22,802 15,586 13,407 43,0yl 10,917 5,419 10,273 7,336 55,693 In actual circulation 5,038,386 411,985 1,335,121 351,686 459,813 221,348 161,433 1,102,848 193,051 141,839 182,878 78,224 398,160 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 5,455,500 440,000 1,455,000 375,000 484,000 250,000 180,000 1,160,000 209,000 148,500 200,000 90,000 464,000 2,307 96 905 97 - 130 - - 630 170 279
@FedFRASER