H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, October 26; Federal Reserve Board not earlier* October 25, I93H* CONDITION OF FEDERAL RESERVE BANKS The daily average volianie of Federal Reserve bank credit outstanding during the week ended October 2U, as reported by the Federal Reserve banks, was $2,^60,000,000, an increase of $3,000,000 compared with the preceding week and a decrease of $53,000,000 compared with, the corresponding week in 1933• On October 2*+ total Reserve bank credit amounted to $2,^52,000,000, a decrease of $5>000»000 the week. This decrease corresponds with decreases of $33f000»0(X) in money in circulation, $11,000,000 in member bank reserve balances and $18,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $3,000,000 in monetary gold stock and $19,000,000 in Treasury and National bank currency, offset in part by an increase of $81,000,000 in Treasury cash and deposits with Federal Reserve banks. There were practically no changes in the System1 s holdings of bills discounted, bills bought in open market and of United States Government securities. Changes in the amount of Reserve bank credit outstanding and in. related items during the week and the year ended October 2*+, 193^"> were as follows: Increase or decrease since Oct* 2U Oct. 17 Oct. 25 19^ 193^ 1933 (in millions of dollars) Bills discounted 11 - 1 -io4 Bills benight 6 - 1 — U. S. Government securities 2,i+30 — +30 Other Reserve bank credit 5 - 4 — TO TA.L RESERVE BABK CREDIT 2,^52 - 5 M 0 netary gold stock 7,993 + 3 +3,957 Treasury and National bank currency +19 +152 2^23 Money in circulation 5,,436 -33 +11^ Member bank reserve balances 3,985 -11 +1,292 Treasury cash and deposits with F.R.banks +81 +2,747 Nonmember deposits and other F. R. accounts 4o4 -IS -120 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 26,193*+; not earlier. B-SOla ASSETS AKD LIABILITIES OF THE TTOBL7E FEDERAL RESERVE BAMS C0MBI1IED (in thousands of dollars) Oct. Oct, 17,193*+ Oct. 25, 1935 A S S E TS Gold certificates on hand and due from U. S. Treasury ... 4,967,100 4,965,342 953,375 Gold — — 2,599,6OO Redemption fund - F. R. notes 21,932 22,019 37,313 Other cash . .. 227.584 215,803 238,012 Total reserves 5,216,616 5,2.03,164 3,828,800 Redemption fund - F. R. "bank notes 2,215 2,215 11,365 Bills discounted: Sec. "by U.S.Government obligations 4,107 4,306 25,825 Other bills discounted 7,406 83,768 Total bills discounted . . 10,864 11,712 114,593 Bills bought in open market . . .. 5.99S 6,177 6,523 Industrial advances* **,999 4,576 U, S. Government securities: Bonds . . 395,597 395,673 441,262 Treasury notes . . . 1,411,716 1,411,706 994,09s Certificates and bills 622,CSS 622,886 964,796 Total U.S, Government securities 2,430,201 2/430,265 2,400,156 Other securities 296 302 1,559 Total bills and securities . . 2,452,35s 2,453,032 2,522,831 Due from foreign banks S21 1,071 3,610 F. R. notes of other banks 21,000 21,164 19,575 Uncollected items . 463,801 591,733 385,196 Bank premises . . . .. 52,97^ 52,931 54,639 All other assets 45,458 44,887 48,872 TOTAL ASSETS 8,255,243 8,370,202 6,874,888 L I A B I L I T I ES F.R. notes in actual circulation . . . 3,155.512 3,182,329 2,960,748 F.R. bank note circulation - net . . . . 29,123 29,425 180,363 Deposits: Member bank - reserve account . . . 3,985,287 3,996,276 2,693,121 U. S. Treasurer - General .account . • 118,002 53,19^ 27,75S Foreign bank 6,985 7,129 17,797 Other deposits 15S,417 176,289 149,209 Total deposits . . . . .. 4,268,691 4,232,SS8 2,887,835 Deferred availability items 464,658 588,695 335,779 Capital paid in . .. 146,SSI 146,755 145,527 Surplus 138.323 13s,3S3 273,599 Reserve for contingencies 22,291 22,290 12,103 All other liabilities 29,704 . 29,437 23.884 TOTAL LIABILITIES . . .. s,255,243 8,370,202 6,874,888 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 70.3$ 70.2$ 65.5$ Contingent liability on bills purchased for foreign correspondents . . . .. 494 516 33,793 •Commitments to make industrial advances 2,692 2,182 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS OK OCTOBER 24, 1934 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 4,967,100 370,604 1,713,684 256,935 368,227 193,563 110,035 1,039,010 192,^96 131,219 170,276 107,765 313,286 Redemption fund - F. R. notes 21,932 1,055 1,091 2,73^ 2,525 1,706 3,99*+ 1.971* 752 986 7^0 396 3,973 0the/cash 227,584 22,978 54,466 34,770 11,135 9,238 11,5^2 11,602 11,424 8,64i 7,5^8 13,486 Total reserves 5,2l6,6l6 394,637 l,769,24i 294,439 381,887 204,507 125,571 1,071,73s 204,856 143,629 179,657 115,709 330,7^5 Redemption fund - F.R. hank notes 2,215 250 1,965 — — Bills discounted: Secured by U.S.Govt, obligations 4,107 980 1,944 577 246 81 45 — 127 17 65 — 25 Other bills discounted 6,757 JL5 4,148 1,7^0 215 111 123 " 56 37 219 9 84 Total bills discounted 10,864 995 6,092 2,317 46l 192 l6S — ' I83 54 284 9 109 Bills bought in open market 5,998 403 2,4l6 582 526 208 267 705 115 80 153 154 389 Industrial advances 4,999 902 4l0 261 151 498 482 559 382 658 215 466 15 U.S.Government secarities: Bonds 395,597 23,214 140,957 25,13s 30,558 iM55 13,532 62,143 13,797 15,392 13,335 18,819 23,857 Treasury notes 1,411,716 92,881 448,074 98,609 126,040 61,274 55,7^0 250,364 54,848 34,870 5^,232 36,372 98,412 Certificates and bills 622,888 41,583 188,724 43,373 56,427 27,434 24,953 115,836 24,555 15,380 24,277 16,284 44,062 Total U.S.Govt, securities 2,430,201 157,67s 777,755 167,120 213,025 103,563 9^,225 428,343 93.200 65,642 91,844 71,1*75 166,331 Other securities 296 — — 296 Total bills and secarities 2,452,358 159,978 736,673 170,576 214,163 104,461 95.1^2 429,607 93,880 66,434 92,496 72,104 166,844 Due from foreign banks 821 6l 306 88 79 31 29 107 9 7 23 23 58 F. R. notes of other banks 21,000 33S 6,580 633 1,276 1,691 1,061 3,316 1,49s 1,076 11,,115555 378 1,998 Uncollected items 463,801 46,444 125,322 34,903 40,417 43,007 14,175 58,979 20,360 13,247 2266,,111144 16,206 24,627 Bank premises 52,97^ 3,224 11,523 4,431 6,788 3,128 2,372 7.387 3,126 1,664 3,485 1,757 4,089 All other assets 45,458 636 31,319 4,590 1,447 1,625 1,987 889 231 890 415 867 562 0y TOTAL ASSETS 8,255,243 605,568 2,732,929 509,660 646,057 358,450 240,337 1,572,023 323,960 226,947 303,3^5 207,044 528,923 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AITD LIABILITIES OF THE FEDERAL RESERVE BAMXS OH OCTOBER 24, 1934 L I A B I L I T I ES (in thousands of dollars) B-SOlc To tal Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,155,512 264,807 6^7,235 236,742 303,271 169,523 13M05 770,397 l4i,485 106,^22 115,681 53,664 210,980 F.R.bank note circulation - net 29,123 S95 2S.22S Deposits: Member bank - reserve account 3,985,287 261,S2U 1,626,912 198,92b 266,345 131,244 70,255 672,757 135,^91 90,962 150,767 121,204 252,540 U.S.Treasurer - General account 112,002 '4,913 76,100 4,093 1,152 2,419 3,711 18,255 2,726 SOS 610 1,932 1,283 Foreign bank: 6,985 562 1.877 812 750 297 273 9S4 25s ISO 219 219 554 Other deposits 93,912 Total de-posits 4,268,691 270,313 1,, S03,801 207,067 272,576 135,150 79,039 700,319 151,012 99,528 154,472 125,374 260,980 Deferred availability items 464,65s 47,270 123,344 34,142 39,929 42,290 14,032 60,166 21,323 13,176 24,672 12,771 25,423 Capital paid in 146,881 19,792 59,649 15 s 212 13,026 ^,971 4,330 12,709 4,065 3,10S 4,127 4,047 10,729 Surplus 132,323 9,610 45,217 13:352 14,090 5,171 5,145 20,631 4,756 3,420 3,613 3,683 9,645 Reserve for contingencies 22,291 1,053 ^,737 2,345 2,300 1,156 2,4S5 2,967 250 1,026 620 1,133 1,619 All other liabilities 29,704 822 20,718 L> V/vJ S05 1S9 .,451 4.234 409 207 160 372 487 TOTAL LIABILITIES 8,255,243 605,56s 2,732,929 509,660 646,057 353,450 240,337 1,572,023 323,960 226,947 303,3^5 207,044 528,923 Ratio of total reserves to deposit and F.R. note liabilities combined 70«3 73-7 72.2 66,3 SG.3 67.1 52.7 72.8 70.0 69.7 66.5 64.6 68.8 Contingent liability on bills purchased for foreign correspondents 494 36 169 52 4s 19 17 63 16 11 i4 i4 35 Commitments to make industrial advances 2,692 952 4o4 36 ill 119 165 553 -- 172 — f J> i/ATURITY DISTRIBUTION OF BILLS A1TD SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 10,864 8,198 4l4 1,685 ^37 128 2 Bills bought in open market 5,998 324 l,l6l 602 3,9H Industrial advances ^,999 6 31 90 96 500 ^,276 Certificates and bills 622,888 36,690 36,425 187,527 71,3^9 290,897 Municipal warrants 29 b 296 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE HOTE STATEMEHT OH OCTOBER 24, I93I1 (In thousands of dollars) B-S01d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ka.ns.Cy. Dallas San Fran. Federal Reserve notes: 808,214 146,379 111,409 123,932 59,607 255,954 Issued to F.R.bank by F.R.agent 3,^59.191 294,564 754,181 255,2^3 31S,704 179,295 150,509 Held by Federal Reserve bank 303,679 29,757 106,9^6 19.101 15,433 10,372 15,704 37,317 4,894 4,987 8,251 5,943 44,974 In actual circulation 3,155,512 264,807 647,235 236,742 303,271 169,523 134,805 770,897 141,485 106,422 115,681 53,664 210,980 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and 3,2l4,4l6 295,117 773,706 215,000 271,431 150,340 81,385 792,513 139,93b 107,000 111,550 60,675 215,763 due from U. S. Treasury Eligible paper 7,9^1 995 4,613 1,033 i-6l 163 216 183 17 231 9 ^0 294,800 4o,ooo 50,000 30,000 72,000 30,000 8,000 5,800 15,000 — 44,000 U.S.Govt, securities Total collateral 3,517,177 296,112 77S.319 256,033 321,892 180,503 153,601 822,513 148,119 112,817 126,781 6o,6s4 259,803 FEDERAL RESERVE BA2TK 1T0TE STATEMENT OH OCTOBER 24, 1934 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ka.ns.Cy* Dallas San Fran. federal Reserve bank notes: 40,478 1,511 28,759 10,208 Issued to F.R.bank(outstanding) 11,355 616 531 10,208 Held by Federal Reserve bank In circulation - net* 29,123 895 28,228 Collateral pledged against outstanding notes: Discounted and purchased Mils 45,774 5,000 28,774 12,000 U.S. Govt, securities Total collateral 45,774 5,000 28,774 12,000 *Does not include $88,209,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis