H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE FHESS Released for publication B-SOl ?riday morning, Jan. U; Federal Reserve Board not earlier, January 3» 1935• CONDITION OF FEDERA.L RESERVE BAMS The daily average volume of Federal Reserve "bank credit outstanding during the week ended January 2 ft,s reported "by the Federal Reserve banks, was f $2,^68,000,000, a decrease of $25,000,000 compared with the preceding week and of $218,000,000 compared with the corresponding week in 193*+• On January 2 total Reserve bank credit amounted to $2,461,000,000, a decrease of $9,000,000 for the week* This decrease corresponds with decreases of $9^,000,000 in money in circulation, $17,000,000 in Treasury cash and deposits with Federal Reserve banks and $2,000,000 in rionmember deposits and other Federal Reserve accounts, and increases of $15*000,000 in monetary gold stock and $10,000,000 in Treasury and xiational bank currency, offset in part by an increase of $129,000,000 in member bank reserve balances. The Syctem!s holdings of bills discounted decreased $2,000,000, while holdings of bills bought in open market and of United States Government securities remained practically unchanged. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January 2, 1935• were as follows: Increase or decrease since Jan. 2 Dec. 26 Jan. 3 J-935 _12JL j a iL (In millions of dollars) Bills discounted 7 - 2 - 99 Bills bought 6 -115 — U. S. Government securities 2,1*31 + l - 1 Industrial advances (not including 10 million commitments - January 2) 14 +i4 — Other Reserve "bank credit 3 - g -26 TOTAL RESERVE BANK CREDIT 2,461 - 9 -227 Monetary gold stock S,243 +15 +45207 Treasury and national bank currency 2,514 +10 +211 Money in circulation 5,534 -94 +30 Member bank reserve balances 4,090 +129 +1,380 Treasury cash and dep*«its- wi-th PvRJxanks. 3,164 -17 +2,S53 Nonmember deposits and other F.R.accounts 430 - 2 -72 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, January 4,1935". no,t earlier. B-SOla ASSETS A1TD LIABILITIES OF THE TWELVE FSDE3AL RESERVE BAMS COMBINED (In thousands of dollars) Jan. 2,1935 Dec. 26,1934 Jan. 3, 19: A S S E TS Gold certificates on hand and due from U. S Treasury , . 5,12^,339 5,122,396 946,307 # Gold 2,572,064 — Redemption fund ~ F. R. notes 19,060 18,952 44,540 Other cash 253,091 213,620 226,799. Total reserves . . . . . . . . .. 5,396,490 5,35^,968 3,795,710 Redemption fund - F. R. hank notes . . . 1,677 1,677 13,086 Bills discounted: Secured by U.S.Gov*t. obligations,direct and/or fully guaranteed . 3,544 4,820 35„176 Other bills discounted . . . . . . . . 3,54s 4,4bl 70,943 Total bills discounted . . • . . 7,092 9,281 106,119 Bills bought in open market 5,612 5,611 121,062 Industrial advances . 14,315 13,529 -- U. S, Government securities: Bonds . . . . .. . 396,088 395,522 442,817 Treasury notes • • 1,507,11s 1,507,141 1,053,240 Certificates and bills . . . . . . .. 527,475 527,475 935.853 Total U.S.Government securities 2,430,681 2,430,19s 2,431,910 # Other securities 1,493 —— Total bills and securities . . . . 2,457,700 2,458,679 2,660,584 Due from foreign banks • • • • • • • •. 805 804 3,333 IP. R. notes of other banks . . . . .. 27,92s 22,6l4 18,541 Uncollected items . 530,474 452,135 504,940 Bank premises . .. . . . • • • • . •• 49,160 53,372 51,884 All other assets . . 44,534 43,064 45,491 TOTAL ASSETS 8,508,828 S.387,313 7,093,569 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,215,661 3,261,403 3,071,762 F. R. bank note- circulation - net . . . 26,363 2266,,660033 208,014 Deposits: . Member bank - reserve account . . .. 4,089,552 3,961,204 2,709,919 U.S.Treasurer - General account . . . 125,594 16s,ll4 23,287 Foreign bank . . . . .. 18,954 19,522 4,492 Other deposits . 170,971 168,016 140,174 Total deposits 4,405,071 4,316,916 2,877,272 Deferred availability items . . . . .. 527,387 44I,S43 480,779 Capital paid in . 146,773 146,752 144,903 Surolus (Section 7) . . . . . . . . .. 144,893 132,323 277,680 Surplus (Section 13 b) . . . . . . .. . 8,418 6,459 — Reserve for contingencies . . . . . .. 30,816 22,272 22,523 All other liabilities , 2,946 26,682 10,036 TOTAL LIABILITIES 8,508,828 2,327,313 7,093,569 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 70.8$ 70.7$ 6633..88$$ Contingent liability on bills purchased for foreign correspondents . 667744 667755 3,209 Commitments to make industrial advances 10,213 2,225 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESEEVE BANKS ON JANUARY 2, 1935 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 Frar Gold certificates on hand and due from U. S. Treasury- 5,124,339 36s,35U 1,868,966 266,067 383,308 182,372 116,731 1,017,356 189,943 135,965 180,857 105,538 308,826 Redemption fund - F. R. notes 19,060 662 1,499 2,525 1.770 1,923 3.853 1,311 614 330 613 328 3,632 Other cash 253,091 31,767 55.586 3^.756 12,871 13,045 13,632 33,614 11,872 11,195 11,274 8,587 14,892 Total reserves 5,396,490 too,733 1,926,051 303,3^8 397,9^9 197.3^6 13M66 1,052,281 202,429 147,490 192,744 114,453 327,350 Redemption fund - F.R.bank notes 1,677 250 1,^27 — — — — — — — — Bills discounted: Secured by U.S.Gov't obligations, direct and/or fully guaranteed 3,5^ 985 1,533 5555^^ 223366 87 6 — 2S — 20 — 95 Other bills discounted 3,54s 55 2,714 4o4 125 52 4s 2 110 38 — — — Total bills discounted 7.092 i,o4o 4,247 958 361 139 5^ 2 28 — 130 — 133 Bills bought in open market 5,612 4o4 1,982 584 528 209 303 707 115 81 154 154 391 Industrial advances 1^,315 1,770 826 3,252 932 1.537 849 912 419 1,753 ^33 1,045 587 U. S. Government securities: Bonds 396,088 23,206 l4i,ois 25,138 30,558 1M59 13.525 6622,,114444 13.797 15.333 13,835 18,818 23,857 Treasury notes 1,507,11s 98,827 475,234 104,810 134,108 65,195 59,309 273.102 58,359 37,05S 57,703 38,701 104,712 Certificates and bills 527,^75 35,63s 161,566 37,172 48,359 23,509 21,385 93.097 21,044 13,181 20,806 13,956 37,762 Total U.S.Gov't, securities 2,1+30,681 157,671 777.SIS 167,120 213,025 103,563 94,219 428,343 93,200 65,572 92,344 71,475 166,331 Total bills and securities 2,457,700 160,885 7S4.S73 171,91^ 214,846 105,448 95.^25 429,964 93.762 67,406 93,061 72,674 167,442 Due from foreign banks 805 60 300 87 77 31 2S 105 9 6 23 22 57 F. R. notes of other banks 27,988 357 6,765 693 1.193 4,185 2,858 3.964 1,904 1,17^ 1,397 46l 3,037 Uncollected items 530,1+74 62,461 137,693 41,293 50,555 46,575 19.02S 63,081 23,079 14,34s 30,0S4 19,449 22,823 Bank premises 1+9,160 3,16s 11.437 4,4n 6,629 3.027 2,325 M55 2,628 1,580 3,447 1,684 3,869 All other assets 1+4,534 628 30,535 ^ ,759 1,894 l,4o4 1 ,842 816 207 764 321 854 510 TOTAL ASSETS 8,508,828 628,592 2,899,086 526,505 673,143 358,016 255.772 1,555.166 324,018 232,76s 321,077 209,597 525,088 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES. OF THE FEDERAL RESERVE BANICS ON JANUARY 2, 1935 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. P.R.notes in actual circulation 3,215,661 271,733 681,462 238,028 305,632 167,039 134,146 787,024 142,364 106,719 117.524 53,667 210,323 F.R.bahk note circulation - net 26,363 903 25,460 — — Deposits: Member bank - reserve account 4,089,552 266,763 1,7^-6,808 208,252 276,576 122,944 80,963 632,547 128,873 96,336 156,584 122,386 250,520 U.S.Treasurer - General account 125,59^ 909 5S.926 3,554 4,815 7,061 5,6I4 22,748 S,972 3,475 2,943 1,689 4,888 Foreign bank IS,954 1,381 6,4-08 1,995 1,842 729 672 2,417 633 441 537 537 1,362 Other deposits 170,971 1,305 124,948 1,73s 3,312 1,170 3,409 2,448 11,677 5,128 3,334 9S9 11,513 Total deposits 4,405,071 270,358 1,937,090 215,539 286,545 131,904 90,658 660,160 150,155 105,380 163,398 125,601 268,283 Deferred availability items 552277,,888877 62,27s 135,77s 40,191 49,491 46,364 17,652 67,383 21,325 11,831 31,241 21,05s 23,295 Capital paid in 114466,,777733 10,807 59,606 15,131 13.062 4,977 4,36s 12,723 44,,008888 3,134 4,069 4,o4s 10,760 Surplus (Section 7) 144,893 9,902 4q,964 13,470 14,371 5,186 5,540 21,350 44,,665555 3,420 3,613 3.777 9,645 Surplus (Section 13 b) 8,418 912 773 1,049 906 1,117 754 S96 382 751 293 — 585 Reserve for contingencies 30,816 1,648 7,510 2,996 3,000 l,4i6 2,595 5,325 893 1,211 806 1,363 2,053 All other liabilities 2,946 51 1,443 101 136 13 59 305 156 322 133 83 l44 TOTAL LIABILITIES 8,508,828 628,592 2,899,086 526,505 673,143 358,016 255,772 1,555,166 324,018 232,768 321,077 209,597 525,088 Ratio of total reserves to deposit and F.S. note liabilities combined 70.8 73*9 73.6 66.9 67.2 66.0 59.7 72.7 69.2 . 69.5 68.6 63.8 68.4 Contingent liability on bills purchased for foreign correspondents 674 47 24b 68 63 25 23 82 22 15 18 18 47 Commitments to make industrial advances 10,213 1.697 3,905 412 1,123 412 590 30 1,209 28 807 MATURITY DISTRIBUTION OF BILLS AED 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 7,092 5.266 251 1.417 84 74 Bills bought in open market 5.612 515 2,869 1,144 1,084 Industrial advances 14,315 49 142 137 1,425 1,486 11,076 U.S.Government securities 430,681 31,450 33.300 S3,239 175.230 498,487 1,608,975 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL KSSERVE NOTE STATEMENT OIT JAMIARY 2, 1935 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Bich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.tank by F.R.agent 3,51S,366 301,312 770,515 261,779 325,959 120,55^+ 151,573 825,833 lkjMj ill,^39 127,o4o 61,480 253,395 Held "by Federal Reserve "bank 302,705 29,579 89,053 23,751 20,327 13,515 17.^27 38,809 5,123 ^,720 9,516 7,813 43,072 In actual circulation 3,215,661 271,733 681,462 238,028 305,632 167,039 134,146 787,024 142,364 106,719 117,524 53,667 210,323 Collateral held by a^ent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3,314,200 301,617 788,706 221,000 291,715 146,340 91,385 819,513 141,936 108,000 124,550 62,675 216,763 Eligible paper 5,523 l»04o 2,791 205 361 113 137 2 28 — Ilk — 132 U. S. Govt, securities 243,100 40,000 35,000 36,000 65,000 10,000 8,000 4,100 5,000 — 40,000 Total collateral 3,562,823 302,657 791,497 261,805 327,076 182,453 156,522 829,515 149,964 112,100 129,664 62,675 256,895 FEDERAL RESERVE BAM HOTS STATEMENT OH JAFJARY 2, 1935 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank(outstanding) 37,590 1,511 25,S71 10,20S — Held by Federal Reserve bank 11,227 60S kll 10,208 In circulation - net* 26,363 903 25,U6O — — — — — — — Collateral pledged against outstanding notes: Discounted and purchased bills — U S. Govt, securities U2 87U 5,000 25, 12,000 # f Total collateral 5,000 25,87k 12,000 — •Does not include $72»739t000 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