H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PHESS Released for publication B-801 Friday morning, November 2; Federal Reserve Board not earlier. November 1, 193^ CONDITION OF FEDERAL .HESSEYE BANKS« The daily average volume of Federal Reserve bank credit outstanding during the week ended. October 31, as reported by the Federal Reserve banks , was $2,455,000,000, a decrease of $5,00Q>000 compared with, the preceding week and of $9^,000,000 compared with the corresponding week in 1933• On October 31, total Reserve bank credit amounted to $2,^55,000,000, an increase of $3,000,000 for the week. This increase corresponds with increases of $18,000,000 in money in circulation -and $21,000,000 in member bank reserve balances, offset in part by increases of $9,000,000 in monetary gold stock and $5,000,000 in Treasury and National bank currency and decreases of $19,000,000 in Treasury cash and deposits with Federal Reserve banks and $3,000,000 in nonmember deposits and other Federal Reserve accounts. There were practically no changes in the System's holdings of bills discounted, bills bought in open market, and United States Government securities. During the week the Secretary of the Treasury made payments to three Federal Reserve barks, in accordance with the provisions of Treasury regulations issued pursuant to subsection (e) of Section 13b of the Federal Reserve Act, for the purpose of enabling such banks to make industrial advances. Similar payments will be made to other Federal Reserve banks upon receipt of their requests by the Secretary of the Treasury. The amount of the payments so made to the Federal Reserve banks is shown in the weekly statement against the caption "Surplus (Section 13b)f? to distinguish such surplus from surplus derived from earnings which is shown against the caption "Surplus (Section 7)11. Changes in the amount of Reserve bank credit outstanding and in related items during the ?/eek and the year ended October 31, 193^» were as follows: Increase or decrease since Oct. 31 Oct. 2k Nov. 1 J 5 JL 193^ 1933 (In millions of dollars) Bills discounted. 11 -106 Bil Is bought 6 - 1 U. «3. Government securities 2,^30 +10 Ct\ier Reserve tank credit S +3 + 1 TOTAL RESERVE BANK CREDIT 2,^55 + 3 Monetary gold stock S.002 + 9 Ereasury and National bank currency 2,^3^ + 5 Montey in circulation +101 Metnber bank reserve balances +1,415 Treasury cash and deposits with F.R.bariks 3,030 -19 +2,6^2 Nonmember deposits and other F.R.accounts Hoi - 3 -130 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, November 2, 193^5 no,!; earlier. B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL ESSEHVE BANKS COMBINED (In thousands of dollars) Oct. 31,1934 Oct. 24.1934 Hov. 1. 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . . . .. 4,966,4S1 4,967,100 951,072 Go Id. * . . » . * •« • • « . . . « .. — — 2,599,520 Redemption fund - F. R. notes . . . . • 22.032 21,932 37,313 Other cash . 227.584 2£o_tMl Total reserves . 5,211,320 5,216,616 3,si'S396 Redemption fund - F. R. bank: notes . . 1,329 . 2,215 11,248 Bills discounted: Sec. "by U.S.Government obligations 4,986 u,107 2244,,999944 Other "bills disco\inted , 5,999, 6,757 2L51I Total hills discounted ... * 10,935 10,864 116,507 Bills bought in open marlcet . . . . .. 6,082 5,998 6,644 Industrial advances* • • • • • • • •• 6,149 4,999 — U. S. Government securities: Bonds • • « • « .. • • « . * • .. 395,572 395,597 442,891 Treasury notes 1,411,707 1,4:. 3,716 t 1,007,587 Certificates and hills . 622,ss6 &.'J,S88 969,297 Total U.S.Government securities . . 2,^30,171 2,430,201 2,419,775 Other securities . . .. 296 , 1,559 Total bills and securities . • . 2,453,387 2,452,358 2,544,485 Due from foreign banks 811 821 3,732 F. R. notes of other banks . 19,744 21,000 17,833 Uncollected items . . . ^39>993 ' 463,801 426,364 Bank premises • . . • • 52,97^ 52,97^ 54,643 All other assets . . 4s,094 . ^5,458 50,676 TOTAL ASSETS S,228,752 8,255,243 6,923,377 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,160,777 3,155,512 2,967,302 F. R. bank note circulation - net . . 28,561+ 29,123 188,840 # Deposits: Member bank - reserve account . . .. 44,,000055,,999999 3,985,287 2,590,551 U.S,Treasurer - General account . . . 92,293 118,002 115,597 Foreign bank 8,952 6,985 15,381 Other deposits . . . • 154,558 158,417 162,650 Total deposits . . . .. 4,2ol,S02 4,268,691 2,884,179 Deferred availability items 438,939 464,658 424,910 Capital paid in . . . . .. 146,777 146,881 145,456 Surplus (Section 7) 138,383 138,383 278,599 Surplus (Section 13b) . . . . . . .. 845 -- — Reserve for contingencies 22,291 22,291 12,103 All other liabilities 30,274 29,704 21,988 TOTAL LIABILITIES ... . 8,228,752 8,255,243 6,923,377 Ratio of total reserves to deposit and F. R. note liabilities combined . . 7700..22$$ 70.3$ 65.2$ Contingent liability on bills purchased for foreign correspondents . . .. 446655 449944 30,750 * Commitments to make industrial advances 3,218 2,692 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF T'HS FEDEML RESERVE BAMS OK OCTOBER 31, 1934 A S S E TS (In thousands of dollars) B-SOlt Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cv Dallas San Fraj m Gold certificates on hand and d1u e from U. S. Treasury 4,966,481 363,936 1,730,436 249,737 367,634 185,946 109,804 1,048,092 196,470 133,13s 170,539 103,163 307,5S6 Redemption fund - F. R. notes 22,032 953 1,736 2,649 2,420 1,931 3,928 1,303 726 399 721 375 3,736 Other cash 223,407 25,337 43,696 34,316 ll,9bl 9,223 10,784 30,577 11,940 11,495 3,323 7,059 13,686 Total reserves 5,211,920 390,226 1,720,913 236,702 332,015 197,155 124,516 1,030,477 209,136 145,532 179,533 110,597 325,05S Redemption fund - F.R. "bank not es 1,329 250 1,579 — — — — — — — — — — Bills discounted: Secured "by U.S.Govt, obligati ons 4,936 375 2,799 660 1^3 82 4R 70 45 117 125 — 25 Other "bills discounted 5,999 24 4,57^ 535 210 95 n4 31 37 237 9 S3 Tota.1 bills discounted 10,935 399 7,373 1,245 353 177 159 70 76 154 362 9 108 Bills "bought in open market 6,032 403 2,500 532 526 203 267 705 115 30 153 154 389 Industrial advances 6,149 1,402 447 269 166 374 516 634 332 683 215 54I 15 U.S^Government securities: Bonds 395,57s 23,214 140,957 25,133 30,55S 14,355 13,530 62,143 13,79S 15,37^ 13,335 18,319 23,857 Treasury notes 1,411,707 92,331 443,075 93,609 126,o4o 61,274 55,740 250,364 54,348 34,860 5^,232 36,372 98,412 Certificates and "bills 622,886 41,533 136,723 43,373 56,427 27,434 24,953 115,336 24,554 15,380 24,277 16,284 44,062 Total U.S.Govt, securities 2/430,171 157,673 777,755 167,120 213,025 103,563 9^,223 428,343 93,200 65,614 91,344 71,475 166,331 Total "bills and securities 2,453,337 160,332 169,216 214,070 104,322 95,165 429,752 93,773 66,536 92,57^ 72,179 166,843 Due from foreign "banks 311 61 296 83 79 31 29 107 9 7 23 23 58 F. R. notes of other "banks 19,744 357 6,062 754 1,296 1,337 863 3,^19 1,195 553 1,360 278 1,720 Uncollected items 439,993 4S,915 109,329 33.9S7 39,524 40,250 13,933 62,647 19,260 11,836 25,162 15,528 19,522 Baric premises 52,97^ 3,224 11,523 4,431 6,783 3,123 2,372 7,387 3,126 1,664 3,435 1,757 4,089 All other assets 43,094 612 32,151 6,443 1,412 1,619 1,951 921 234 393 44i 859 55s TOTAL ASSETS S,223,752 SoU,027 2,729,933 501,621 645,184 343,892 238,879 1,58^,710 326,733 227,071 302,633 201,221 517,848 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS ON OCTOBER 31, I93I4- L I A B I L I T I ES (in thousands of dollars) B-SOlc To tal Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F*R.notes in actual circulation 3,160,777 265,51+2 650,275 237,805 300,61+9 172,110 136,37^ 768,965 142,416 105,330 116,039 52,997 212,275 F.R.bank note circulation - net 22,664 915 27,7^9 — Deposits: Member "bank - reserve account H, 005,993 257,215 1,654,479 191,300 268,335 121,267 69,i4o 699,^7 138,828 91,^ 150,665 118,976 244,873 U.S.Treasurer - General account 92,293 3,924 59,158 3,859 1,942 3,226 2,902 7,578 4,150 1,666 389 1,05s 2,441 5 Foreign "bank 8,952 562 3.843 812 750 297 273 984 258 180 219 219 P Other deposits IS1*. 55S 3,727 99,755 2,492 3,985 1,002 3,5H 2,?79 10,356 8,175 2,522 1,786 1 1 4,368 Total deposits 4,261,802 2b5' t 42S 1,817,235 198,463 275,0i2 125,792 75.826 710,888 153,592 101,495 153,795 122,039 262,237 Deferred availability items 418,939 49,872 104.144 33,151 39.33^ 3,:5 23 13.858 64,308 20,633 12,215 24,045 16,994 20,862 Capital paid in 146,777 10,804 59,527 15,211 13,030 ,971 4,376 12,704 4,116 3,162 4,123 4,0% 10,766 Surplus (Section j) 138,383 9,610 45,217 13,352 14,090 5,171 5.1^5 20,681 4,756 3,420 3,613 3,683 9,645 Surplus (Section 13^) 845 252 215 Reserve for contingencies 22,291 1,053 ^,737 2,3^5 2,300 1,156 2.967 85O 1,026 619 1,133 1,619 All other liabilities 30,274 803 21,049 1.294 769 169 436 M 97 370 231 184 32s 444 TOTAL LIABILITIES 8,228,752 604,027 2,729,933 501,621 645,184 348,892 238,879 1,584,710 326,733 227,071 302,633 201,221 517,84s Ratio of total reserves to deposit and F.R.note liabilities combined 70*2 73-5 72.2 65.7 66.4 66.2 5S.7 73.0 70.7 70.4 66.6 63.2 6S.5 Contingent liability on bills purchased for foreign correspondents 36 i4o 52 48 19 17 63 16 11 l4 14 35 Commitments to make industrial advances 3,218 957 715 36 105 119 265 656 — 172 193 MATURITY DISTRIBUTION OP BILLS AM 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 10,985 8.577 728 1,178 3^7 153 2 Bills bought in open market 6,082 1,101 684 486 3,811 Industrial advances 6,149 37 2 136 46 504 5,424 Certificates and tills 622,886 38,990 16,875 209,275 52,699 287.797 17,250 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 31, 1934 (In thousands of dollars) B-SOld Total Boston New York Phila* Cleve. Rich. Atlanta Chicago St Louis Minn, Kans.Cy. Dallas San Fran, # Federal Reserve notes: Issued to F.R.bank by F.R.agent 3.^3.685 294,297 7^1,376 255,710 316,793 183,879 152,3^ 804,196 147,346 110,546 123,326 58,9^0 254,932 Held by Federal Reserve bank 282,908 28,755 91,101 17,905 16,144 11,769 15,970 35>23l 4,930 5,216 7,287 5,9^3 ^2,657 In actual circulation 3,160,777 650,275 237,805 300,649 172,110 136,37^ 768,965 142,416 105,330 116,039 52,997 212,275 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S Treasury 3,224,416 294,117 773,706 205,000 271,431 149,340 81,385 812,513 142,936 106,000 111,550 60,675 215,763 # Eligible paper 9,238 899 6,009 999 353 150 208 70 76 lis 30s 9 39 U. S. Govt, securities 277t800 — 50,000 50,000 35,000 72^000 6,000 5,800 15,000 ~ 44,000 Total collateral 3 , 5 H ,^ 295,016 779,715 255,999 321,784 184,490 153,593 812,583 149,012 111,91s 126,858 6o,6s4 259,802 FEDERAL RESERVE BAM NOTE STATEMENT OK OCTOBER 31, 1934 (in thousands of dollars) Total Boston ITew York PMla# Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve bank notes: Issued to F.R.bank(outstanding) 39,792 1,511 28,073 10,208 Held by Federal Reserve bank 11,128 596 324 10,208 — ~ — In circulation - net* 28,664 915 27,7^9 — — — ~ — — — ' Collateral pledged against outstanding notes: Discounted and purchased bills U.S. Govt, securities ^5,27^ 5,000 28,274 12,000 Total collateral 45,274 5,000 28,274 12,000 *Does not include $85,699,000 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