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Form F. R, 283 STATEMENT FDR THE PRESS Released for publication Friday morning, November 1; not earlier . Board of Governors of the Federal Reserve System October 31, 1940 CONDITION OF THE FEDERAL RESERVE BANKS During the week ended October 30 member bank reserve balances increased $29,000,000. Additions to member bank reserves arose from decreases of $45,000,000 in Treasury cash and $7,000>000 in Treasury deposits with Federal Reserve Banks, and an increase of $71,000,000 in gold stock, offset in part by a decrease of $7,000,000 in Reserve Bank credit, and increases of $29,000,000 in money in circulation and $59,000,000 in nonmernber deposits and other Federal Reserve accounts. Excess reserves of member banks on October 30 were estimated to be approximately $6,930,000,000, a decrease of $10,000,000 for the week. The principal change in holdings of bills and securities was a reduction of $19,000,000 in United States Government securities, direct and guaranteed: holdings of bonds decreased $7,000,000 and of notes $12,000,000* Changes in member banK reserve balances and related items during the week and the year ended October 30, 1940, were as follows: Increase or decrease since Oct. 30, 1940 Oct. 23, 1940 Uov. 1, 1939 (In millions of dollars) Bills discounted U# S. Gov't securities,direct and guaranteed Industrial advances (not including 7 million commitments - October 30) Other Reserve Bank credit - 19 2 - 388 8 36 +12 4 + 1 0 Total. Reserve Bank credit Gold stock Treasury currency 2,381 2.1,4-99 3,056 7 + 71 + 1 - 384+4,400 + 124 Member bank reserve balances Money in circulation Treasury cash Treasury deposits with Fc R* Banks Konmembcr deposits mid other F. R. accounts 14,177 8,265 2,187 376 1,931 + 29 + 29 - 45 7 + 59 +2,363 + 913 - 63 + 2 7 + 900 4 2,333 Form F.R.283-a Released for publication Friday morning, Hovember 1,1940; not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Nov. 1, Oct. 23, Oct. 30, 1940 1940 1929 ASSETS Gold certificates on hand and due from U. S. Treasury +112,999 19,280,299 +4,441,093 Redemption fund - F. R.notes + 1,227 1 10,073 Other cash 1,422 + 341,290 + 5,716 Total reserves +4,443,742 +118,714 19,631,662 Bills discounted: Secured by U. S. Gov't obligations, — direct and guaranteed + 52 136 1,044 — 2,11? Other bills discounted + 422 2,955 474 - 2,249 8,193 112 — 3,487 1,379,200 953,600 - 6,900 - 12,200 + - — 63,258 291,897 159,380 - 19,100 — 388,019 - 18,738 - 393,755 Total bills discounted 3,999 Industrial advances U. S. Government securities, direct and guaranteed! Bonds Notes Bills Total U, S.Government securities, direct and guaranteed 2,332,800 Total bills and securities 2,344,992 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 Depositsl Member bank - reserve account U. 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 combined Contingent liability on bills purchased for foreign correspondents Commitments to make industrial advances + — — — — — — 47 19,754 759,353 41,306 55,534 - 2,479 894 42 + 1,345 - 22,852,648 + 97,906 +4,075,776 5,548,874 + 28,603 + 14,176,535 375,707 1,091,831 567,597 16,211,670 723,645 + + + + - +2,362,871 + 26,677 + 620,950 + 248,148 +3>258,646 33,098 + 5.057 22,489,246 + 910 + 97,425 779 +4,060,012 137,678 151,720 26,839 47,165 22,852,648 + + + 90.2$ 28,760 7,345 20,388 38,821 80,624 12,712 - — 2,379 42,857 731 13,958 767,489 + + 441 + 97,906 2,098 2,568 425 + 11,523 +4,075,776 + + 4.6% - ' 101 2,672 40 - — .1* — 7,351 + 71 - - Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BiSIKS ON OCTOBER 30, 1940 (In thousands of dollars) ASSETS Total Boston New York Gold certificates on hand and due from U.S.Treasury 19,280,299 1,187,333 9,479,470 Redemption fund - F.R.notes 10,073 1,537 1,256 Other cash 341,290 34,2.70 89,382 Total reserves Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 982,638 1,285,354 518,914 350,991 2,960,934 475,708 287,783 386,657 264,363 1,099,654 603 585 1,110 854 1,244 278 435 519 582 1,070 27,657 22,048 22,917 18,998 42,167 13,252 7,340 19,029 12,101 32,129 19,631,662 1,223,140 9,570,108 1,010,898 1,308,487 542,941 370,843 3,004,345 489,238 295,558 406,205 ,'277,046 1,132,853 Bills discounted* Secured by U0 S. Gov't obligations, direct and guaranteed 1,044 Other bills discounted 2,955 50 37 891 229 231 166 104 40 34 2 64 48 188 15 94 178 199 117 913 127 129 35 108 3,999 50 928 460 270 74 66 236 109 377 1,030 256 143 Industrial, advances 8,193 U. S„ Government securities 9 direct and guaranteed: Bonds 1,379,200 Notes 953,600 1,031 1,779 2,403 326 820 252 267 5 264 212 222 612 98,688 68,236 414,369 286,500 115,843 80,097 I38,324 71,928 52,522 95,639 49,732 36,316 156,248 58,452 38,698 66,113 52,853 103,032 40,415 26,755 45,711 36,543 115,162 79,624 Total Uc S. Gov't securities, divuevb and guaranteed'. 2,332,800 166,924 700,869 195,940 233,963 121,660 88,838 264; 280 98,867 65,453 111,824 89,396 194,786 168,005 703,576 198,803 234,559 12,2,554 89,156 2 2 4 2,372 1,909 1,361 94,523 60,48Q 30,177 5 >425 2,552 1,998 5,947 3,139 1,999 2.64,783 98,981 66,094 113,066 89,874 195,541 * 1 1 6 1 522 2,472 1,301 1,612 i,4o4 108,4-80 39,480 19,468 34,177 25,467 3,342 2,420 1,374 3,097 1,121 5,778 2,135 1,553 2,487 2,779 4 3,321 43,107 2,867 4,832 Total bills discounted Total bills and securities 2,344,992 Die from foreign banks 47 F. R. notes of other banks 19,754 Uncollected items 759,353 Bank premises 41,306 Other assets 55,534 TOTAL ASSETS — 3 521 75,838 2,843 3,659 18 1,904 175,/; 26 9, 750 15,993 5 1,055 52.721 4,477 5,183 22,852,648 1,474,009 10,476,775 1,273,142 1,650,306 734,139 496,084 3,389,206 633,556 3^5,659 560,437 396,810 1,382,525 *Less than $500, Form F. R. 283-b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BiSIKS ON OCTOBER 30, 1940 (In thousands of dollars) LIABILITIES Total F. R. notes in actual circulation 5,548,874 Deposits t Member bank-reserve acct, 14,176,535 U.S.Treasurer-Genera], acct. 375,707 Foreign 1,091,831 Other deposits 567,597 Total deposits 16,211,670 Deferred availability items 723,645 Other liabilities including accrued dividends 5,057 Boston New York Phila. 449,210 1,480,643 379,919 505,221 262,075 180,321 1,187,409 208,503 152,945 199,479 9-1,079 452,070 846,492 7,532,750 19,664 109,286 51,119 610,248 8,715 458,172 686,763 11,978 73,615 34,326 910,401 336,488 222,536 1,897,180 323,735 168,459 268,157 224,366 34,021 23,753 19,718 51,791 19,992 16,459 23,095 20,608 69,859 32,301 26,291 90,141 22,535 16,526 21,784 22,535 8,378 3,877 4,728 7,092 7,495 4,291 4,826 2,364 759,208 25,342 54,877 23,333 925,990 8,710,456 806,682 1,022,659 396,419 273,273 2,046,204 373,757 205,735 317,862 269,873 862,760 73,298 159,019 51,954 435 1,273 1,045 Cleve. Rich. Atlanta 87,772 59,727 29,131 497 165 176 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 108,899 39,750 17,425 32,124 24,091 518 162 153 182 173 40,455 278 TOTAL LIABILITIES 22,489,246 1,448,933 10,351,391 1,239,600 1,616,149 718,386 482,901 3,343,030 622,172 376,258 549,647 385,216 1,355,563 CAPITAL ACCOUNTS Capital paid in 11,608 13,963 4,166 2,957 4,422 4,l6o 137,678 11,881 5,347 4,677 9,337 51,085 14,075 Surplus (Section 7) 3,974 10,224 22,824 3,152 151,720 14,198 4,709 3,613 10,405 53,326 14,323 5,247 5,725 Surplus (Section 13b) 1,142 1,266 3,246 2,121 1,001 1,429 538 26,839 2,874 7,109 1,007 713 4,393 Other capital accounts 2,068 7,960 2,194 1,971 2,460 13,864 4,752 2,291 3,009 3,070 47,165 1,613 1,913 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 22,852,648 1,474,009 10,476,775 1,273,142 1,650,306 734,139 496,084 3,389,206 633,556 385,659 560,437 396,810 1,382,525 Commitments to make industrial advances 128 401 50 4 2,717 948 586 50* 1M 262 1,012 721 7,351 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 2 Years to Over 16 to 31 to 61 to 91 days to 6 months 1 Year Within 5 Years 5 Years Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years Bills discounted 1,444 3,999 264 1,022 746 431 92 Industrial advances 8,193 257 343 473 574 1,354 1,410 2,469 1,313 U. S. Government securities, direct and guaranteed 2,332,800 669,100 1,259,100 95,300 115,300 194,000 Forn. F. R. 283-d FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 30, 1940 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran. Federal Reserve notesl Issued to F.R.Bank by F.R.agent Held by Federal Reserve Bank 5,837,873 472,678 1,559,074 400,314 527,130 275,121 195,395 1,218,058 219,505 157,606 207,770 99,160 506,062 288,999 23,468 78,431 20,395 21,909 13,046 15,074 30,649 11,002 4,661 8,291 8,081 53,992 In actual circulation 5,548,874 449,210 1,480,643 379,919 505,221 262,075 180,321 1,187,409 208,503 152,945 3,99,479 91,079 452,070 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 5,946,500 490,000 1,575,000 410,000 532,000 290,000 .200,000 1,230,000 2.24,000 158,500 210,000 103,000 524,000 2,342 50 587 382 - 40 - - 85 282 916 5,948,842 490,050 1,575,587 410,382 532,000 290,040 200,000 1,230,000 224,085 158,782 ,210,916 103,000 524,000
@FedFRASER