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Form F# R. 283 STATEMENT FOR THE PRESS Released for publication Friday morning, Oct. 18; not earlier* Board of Governors of the Federal Reserve System October 17, 1940 CONDITION OF THE FEDERAL RESERVE BJCIKS During the week ended October 16 member bank reserve balances increased $89,000,000* Additions to member bank reserves arose from decreases of $116,000,000 in Treasury deposits with Federal Reserve Banks and $26,000,000 in Treasury cash, and increases of $36,000,000 in Reserve Bank credit, $24,000,000 in gold stock, and $4,000,000 in Treasury currency, offset in part by increases of $30,000,000 in money in circulation and $87,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on October 16 v/ere estimated to be approximately $6,870,000,000, an increase of $50,000,000 for the week. • The principal ..change in holdings of bills and securities was a reduction of $15,000,000 in United States Government securities, direct and guaranteed* holdings of bonds decreased $-2,000,000 and of notes $13,000,000* Changes in member bank reserve balances and related items during the week and the year ended October 16, 1940, were as follows! Increase or decrease since Oct. 16, 1940 Oct. 9, 1940 Oct. 18, 1939 (in millions of dollars) Bills discounted ; 3ills bought U, S. Gov't securities,direct and guaranteed Industrial advances(not including 7 million commitments - October 16) Other Reserve Bank credit 4 - - 2 1 364 4 35 4 — 2,384 - 15 3 86 + 56 + Total Reserve Bank credit Crold stock Treasury currency 2,481 21,373 3,052 + 36 + 24 + 4 - 336 +4,376 + 125 I*ember bank reserve balances Loney in circulation Treasury cash Treasury deposits with P. R. Banks 'lonneraber deposits and other F. R. accounts 14,016 8,229 2,268 463 1,931 + 89 + 30 - 26 -116 + 87 +2,109 + 899 + 52 + 114 + 992 - - Form F.R.283-a Released for publication Friday morning, October 18,1940; not earlier, STATEMENT OF CONDITION OF THE TUELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) increase or decrease since ASSETS Gold certificates on hand and due fromi .y, S. Treasury Redemption fund - F, R. notes Other cash Total reserves Bills discounted: Secured bv U. S. Gov*t obligations, direct and guaranteed Othor bills discounted Total bills discounted Bills bought in open narket Industrial advances U# S. Government securities, direct and guaranteed: Bonds Notes Bills Total U. S.Governnent securities. direct and guaranteed Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank prenises Other assets TOTAL ASSETS LIABILITIES F, R, notes in actual circulation Deposits: Ivlenber bank - reserve account IJ. S# Treasurer - General account Foreign 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 conbined Contingent liability on bills purchased for foreign correspondents Corxuitments to make industrial advances Oct. 18, 1939 Oct. 16, 1940 Oct, 9, 1940 19,077,299 11,284 326,661 19,415,244 + 44,999 97 + 7,314 + 52,216 +4,308,093 + 1,507 5,722 +4,303,878 1,312 2,425 3,737 - 2,058 - 2,190 — 4,248 + - _ _ — - — 8,325 75 1,397,700 985,800 - 2,400 - 13,200 - + 230 2,116 1,886 415 3,462 - 81,758 259,697 186,820 364,759 - 2,383,500 - 15,600 - 2,395,562 47 21,552 1,071,624 41,257 53.676 - 19,923 - + 979 +382,540 2 - 1,217 - 22,998,962 +414,593 +4,184,693 5,508,424 + 29,060 + 14,015,812 462,610 1,057,344 603,002 16,138,768 986,147 + 88,798 -116,443 •F 943 +2,108,965 + 113,473 + 6g,6|9 + 58,447 +327,023 +3,184,539 + 233,897 2,658 22,636,997 216 137,653 151,720 26,839 45,752 22,998,962 89,7$ — M* - +414,314 + 12 - — - 751,967 +_ 277 +4,170,126 - + + - — + 2,084 2,568 425 10,340 + 267 +414,593 +4,184,693 - + .155 — — 7,459 + 370,522 261 1,633 269,048 830 14,987 - 139 - 4,4% 101 2,777 Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BiSIKS ON OCTOBER 30, 1940 (In thousands of dollars) ASSETS Total Boston Now York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S.Treasury 19,077,299 1,169,682 9,189,346 Redemption fund - F.R.notes 11,284 1,606 1,522 83,905 Other cash 326,661 33,005 967,344 1,257,359 516,393 357,555 3,062,281 478,094 295,532 408,432 269,410 1,105,871 706 676 1,663 894 1,339 296 348 53-3 594 1,102 26,995 21,201 21,534 17,217 38,298 14,318 6,997 1G,G90 12,490 31,811 Total reserves 995,045 1,279,236 539,590 375,666 3,101,918 492,708 302,877 4-27,S60 282,494 1,138,784 19,415,244 1,204,293 9,274,773 Bills discounted* Secured by U. S. Gov't obligations, direct and guaranteed 1,312 Other bills discounted 2,425 Total bills discounted 596 1,024 114 173 l4l 82 40 2.2 2 142 57 92 86 99 115 112 394 126 209 25 86 287 2,410 223 365 62 144 260 149 86 2.14 506 269 5 265 214 335 252 111 1,060 1,620 1,781 623 99,913 70,470 422,093 297,703 117,487 82,862 140,242 72,493 53,105 98,914 51,131 37,457 157,963 58,875 39,024 66,531 53,317 111,411 41,524 27,522 46,924 37,604 116,657 82,278 3,737 Industrial advances 8,325 U. S. Government securities, direct and guaranteed* Bonds 1,397,700 Notes 985,800 821 direct and guaranteed 2,383,500 170,383 719,796 200,349 239,156 123,624 90,562 269,374 100,399 Total bills and securities 2,395,562 171,443 723,197 203,046 239,744 124,507 90,966 269,792 100,490 67,025 }14,175 91,5;f A Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets 47 21,552 1,071,624 41,257 53,676 3 668 99,893 2,847 3,604 18 2,515 263,221 9,750 15,586 5 870 81,406 4,488 4,456 2 4 2 1,622 2,558 2,315 130,448 85,331 44,249 5,436 2,487 2,002 5,855 3,093 1,949 * 1 1 6 1 520 651 2,618 1,858 1,657 152,288 58,703 24,059 43,120 40,090 3,358 2,423 1,374 3,097 1,120 5,620 2,102 1,520 2,394 2,752 TOTAL ASSETS 199,669 4 3,700 48,816 2,875 4,745 22,998,962 1,482,751 10,289,060 1,289,316 1,662,345 757,568 517,149 3,535,600 658,285 397,506 592,304 418,485 1,398,593 *Less than $500. Form F.R. 283-c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON OCTOBER 16, 1940 (in thousands of dollars) LIABILITIES Total F. R. notes in actual circulation 5,508,424 Deposits s Member bank-reserve acct. 14,015,812 U.S.Treasurer-General acct. 462,610 Foreign 1,057,344 Other deposits 803,602 Total deposits 448,096 1,470,994 831,071 7,322,900 146,919 24,455 51,192 576,971 7,409 4l7?684 Phila. 378,036 681,472 21,250 73,400 26,361 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 501,838 256,728 177,919 1,180,434 205,654 151,934 197,533 89,278 895,250 340,442 228,156 1,934,661 327,493 167,724 285,564 225,515 31,838 26,571 24,625 48,898 26,423 25,832 30,113 28,930 69,655 32,206 26,214 89,878 22,469 16,478 21,721 22,'<69 8,559 3,320 6,158 92,121 8,723 4,172 4,710 1,986 802,483 1,005,302 402,539 285,153 2,165,558 385,108 2.14,206 342,108 278,900 986,147 95,146 227,670 75,007 3,658 413 1,003 369 120,780 82,515 40,792 413 113 159 143,197 56,081 21,854 41,806 38,638 394 120 153 145 128 449,980 775,564 26,756 54,691 21,799 878,810 42,661 248 22,636,997 1,,457,782 10,164,141 1 ,255,895 1 ,628,333 741,895 504,023 3 ,489,583 646,963 388,147 581,592 406,944 1 ,371,699 CAPITAL A C C O U IJ T S Capital paid in 137,653 Surplus (Section 7) 151,720 Surplus (Section 13b) 26,839 Other capital accounts 45,753 TOTAL LIABILITIES AND CAPITAL ACCOUNTS New York 16,138,768 -,,914,127 8,464,474 Deferred availability items Other liabilities including accrued dividends TOTAL LIABILITIES Boston 9,333 10,405 2,874 2,357 51,052 53,326 7,109 13,4-32 11,881 14,198 -4,393 2,949 14,068 14,323 1,007 4,614 5,338 5,247 3,246 ;,842 4,677 5,725 713 2,011 13,952 22,824 1,429 7,812 4,162 4,709 538 1,913 2,953 3,152 1,001 2,253 4,423 3,613 1,142 1,534 4,158 3,974 1,266 2,143 11,656 10,224 2,121 2,893 22,998,962 1,482,751 10,289,060 1,289,316 1,662,345 757,568 517,149 3,535,600 658,285 397,506 592,304 418,485 1,398,593 Commitments to make industrial advances 7,459 267 722 1,038 960 612 509 14 416 50 136 2,731 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Industrie advanceg U. S. Government securities, direct and guaranteed Total 3,737 8,325 2,383,500 Within 15 days 1,941 1,412 16 to 30 days 180 196 31 to 60 days 612 199 61 to 90 days 735 445 91 days to 6 months 6 months to 1 Year 252 17 796 1,364 99,800 115,300 1 Year to 2 Years 1,407 194,000 2 Years to Over 5 Yerrs 5 Years 2,506 . 69S,$00 1,275,600 Forn.F. R. 283-d FEDERAL RESERVE KOTE STATELIEST Oil OCTOBER 16, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Llinn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.agent 5,785,779 462,044 1,545,180 397,366 524,346 268,674 192,626 1,210,275 216,551 156,851 204,430 96,113 511,323 Held by Federal Reserve Bank 277,355 13,948 74,186 19,330 22,508 11,946 14,707 29,841 10,897 4,917 6,897 6,835 61,343 In actual circulation 5,508,424 448,096 1,470,994 378,036 501,838' 256,728 177,919 1,180,434 205,654 151,934 3.97,533 89,278 449,980 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 5,878,000 470,000 1,565,000 400,000 528,000 290,000 195,000 1,230,000 219,000 157,500 210,000 99,500 52.4,000 Eligible paper 2,195 - 1,197 236 40 - 70 175 477 - — Total collateral 5,880,195 470,000 1,566,197 400,236 528,000 290,040 195,000 1,230,000 219,070 157,675 210,477 99,500 524,000
@FedFRASER