H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Jan. 18; Federal Reserve Board not earlier. January 17» 1935• CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended January l6, as reported by the Federal Reserve banks, was $2,464,000,000, unchanged from the preceding week and $194,000,000 less than in the corresponding week in 193^* On January l6 total Reserve bank credit amounted to $2,468,000,000, an increase of $1,000,000 for the week. Increases of $105,000,000 in member bank reserve balances and $21,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $4,000,000 in Treasury and national bank currency were practically offset by decreases of $38,000,000 in money in circulation and $75,000,000 in Treasury cash and deposits with Federal Reserve banks and an increase of $15,000,000 in monetary gold stock. Bills discounted increased $9,000,000 at the Federal Reserve bank of Chicago, $2,000,000 at the Federal Reserve Bank of IIew York and $10,000,000 at all Federal Reserve banks. There was practically no change in holdings of bills bought in open market and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January l6, 1935* were as follows: Increase or decrease since Jan. l6 Jan. 9 Jan. 17 (In millions of dollars) Bills discounted 17 +10 ~s4 Bills bought 6 -106 U. S Government securities - 2 # Industrial advances (not including 11 million 2,430 commitments - January l6) +15 Other Reserve bank credit * 15 -•9 - 1 TOTAL RESERVE BANK CREDIT + 1 -172 Monetary gold stock 8,273 +15 +4,238 Treasury and national bank currency 2,504 - 4 +202 Money in circulation 5,382 -38 +26 Member bank reserve balances 4,388 +105 +1,600 Treasury cash and deposits with F. R. banks 3,019 -75 +2,612 +21 Nonmember deposits and other F.R. accounts 457 +26 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication. Friday morning, January IS, 1935? earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Jan. 16,1935 Jan. 9.1935 Jan. 17,193*4 A S S E TS Gold certificates on hand and due from U. S. Treasury 5,237,503 5,162,076 91+7,682 Gold — — 2,568,648 Redemption fund - F. R. notes 17,398 19,0o0 43,974 Other cash 287,HUH 287,644 244,870 Total reserves 5,542,345 5,468,7^0 3.805,174 Redemption fund - F. R. "bank notes 1,752 1,964 12,527 Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteed 13,604 3,588 35.553 Other bills discounted 3.617 3.4o6 65.762 Total bills discounted 17,221 6,994 101,315 Bills bought in open market 5,562 5,611 111,939 Industrial advances 14,826 14,744 U, S. Government securities: Bonds 395,627 395,662 442,807 Treasury notes 1,508,667 1,507,117 1,053,163 Certificates and bills 525,925 527,475 935.820 Total U.S. Government securities . 2,430,219 2,430,254 2,431,790 Other securities — — 1,413 Total bills and securities . . .. 2,467,828 2,457,603 2,646,457 Gold held abroad — — 4,319 Due from foreign banks 806 8O5 3,390 F. R. notes of other banks 24,226 24,489 20,512 Uncollected items 505,729 428,403 4l6,635 Bank premises 49,296 49,190 51,980 All other assets . . .. 45.589 44.850 116.990 TOTAL ASSETS 8,637,571 8,476,084 7,077,984 L I A B I L I T I ES F. R. notes in actual circulation 3,099,050 3,136,987 2,959,556 F. R. bank note circulation - net 25,869 26,185 204,536 Deposits: Member bank - reserve account 4,387,560 4,282,546 2,788,073 U.S.Treasurer - General account 67,227 80,137 105,356 Foreign bank 18,339 19.H1* 3,955 Other deposits 196.677 174,725 139.506 Total deposits 4,669,803 4,556,522 3,036,890 Deferred availability items 506,428 419,920 420,675 Capital paid in 146,839 146,844 145,078 Surplus (Section 7) 144,893 144,893 132,383 Surplus (Section 13b) 10,526 10,496 Reserve for contingencies 30,808 30,816 22,523 All other liabilities 3.355 3.421 150.343 TOTAL LIABILITIES 8,637,571 8,476,084 7,077,984 Ratio of total reserves to deposit and F. R. note liabilities combined 71.3$ 71.1$ 63.5$ Contingent liability on bills purchased for foreign correspondents 567 878 4,477 Commitments to make industrial advances . . 10,846 10,375 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS Aim' LIABILITIES OF THE FEDERAL RESERVE BA17KS Oil JA2TUARY l6, 1935 A S S E TS (In thousands of dollars) B-80Ib Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran Gold certificates on hand and due from U. S. Treasury 5.237.503 40^,967 1,851,708 269,639 37S,935 175,014 112,775 1,066,891 207,973 142,876 195,935 110,310 320,480 Redemption fund - P. R. notes 17.39S 577 1,059 2,351 1,737 1,782 3,631 1,082 528 254 571 289 3,537 Other cash 287,444 33.955 68,964 37,204 14,851 13,933 15,462 35,761 12,824 12,110 11,863 8,787 21,130 Total reserves 5,5^2,3^5 439,499 1,921,731 309,794 395.523 190,729 131,S6S 1,103,734 221,325 155,240 208,369 119,386 345,147 Redemption fund - F.F..bank notes 1,752 250 1,502 — — — — — — — Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed 13,604 388 3,253 457 186 1*7 55 9,000 28 —— 10 15 65 Other bills discounted 3,617 63 2,519 491 124 156 108 10 — 17 ^6 Total bills discounted 17,221 451 5,772 948 310 303 163 9,010 28 — 103 32 101 Bills bought in open market 5,562 4o4 2,102 555 523 204 258 651 105 84 l4s 143 385 Industrial advances 14,826 1,792 850 3.3*+Z 96s 1,695 904 912 4i6 1,810 443344 11,,110000 559977 U. S. Government securities: Bonds 395.627 23,206 l4l,01S 25,136 30,559 14,859 13,539 62,145 13,797 15.359 13,33^ 18,818 23,857 Treasury notes 1,508,667 98,936 475,691 104,925 134 256 65,267 59r-375 273,356 58,423 37,098 57,767 35,744 104,829 Certificates and bills 525,925 35,529 lb1,109 37,059 48.209 23.436 21.319 92.842 20.qs0 13.l4l 20.743 T7.64<S Total U.S.Gov't, securities. 2,430,219157,671 777,818 167,120 213,024 103,562 9^,233 428,343 93,200 65,598 91,844 71,475 166,331 Total bills and securities 2,467,828 160,318 786,542 171,971 214,825 105,764 95,558 438,916 93,7^9 67,492 92,529 72,750 167,414 Due from foreign banxs 80 6 60 317 S3 77 30 29 97 8 6 22 21 56 F. R. notes of other banks 24,226 390 6,355 .500 1,033 3,966 1,261 2,912 948 771 1,430 406 4,254 Uncollected items 505,729 51,S31 126,961 40,366 49,108 41,135 15,9^5 68,358 26,963 12,408 26,811 19,721 26,122 Bank premises 49,296 3,16s 11,49s 4,485 6,629 3,02s 2,325 ^,955 2,628 1,580 3,447 l,6s4 3,869 All other assets >+5,589 633 31,849 4,800 1,529 l,3S5 1,811 869 246 755 319 896 497 TOTAL ASSETS 8,637,571 656,1119 2,$86,755 531,999 668,724 3^6,037 248,797 l,6i9,s4i 345,867 232,252 332,927 214,864 5^7,359 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAMS Oil JANUARY 16, 1935 1 I A B I III T I E S (In thousands of dollars) B-gOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Iians.Cy. Dallas San Fran. F.R.notes in actual circulation 3.099.050 259.585 647,943 230,112 297.S3S l6o,6l4 12S,610 768,167 13S,373 103,628 114,050 50,242 199,888 F.R.bank note circulation - net 25,869 905 24,964 Deposits: Member bank - reserve acco-unt 387,560 314,146 1,793,666 222,-5^7 279,855 128,518 82,166 726,184 152,548 105,535 177.303 128,373 276,719 U.S.Treasurer - General acco-unt 67,227 1,763 33,608 1.^57 5,961 723 5,431 4,076 6,632 1,845 1,997 1,490 2,254 Foreign bank 18,339 1,331 5,235 1,926 1,775 703 646 2,336 612 425 518 519 1,313 Other deposits 196,677 3,123 13^,921 3,936 3,893 2,165 2,303 6,812 8,987 5,^39 2.7^7 2,042 20,309 Total deposits 4,669,803 320,363 1,968,430 229,866 29i,4s4 132,109 90,546 739,408 168,769 113,244 182,565 132,424 300,595 Deferred availability items 506,428 51.944 126,077 38,173 ^7,730 4o,46o lo,2S2 71,382 28,541 12,493 27,359 22,309 23,678 Capital paid in 146,839 10,807 59,606 15,129 13,172 4,969 4,369 12,726 4,084 3,132 4,052 4,047 10,746 Surplus (Section 7) 144,893 9,902 49,964 13,470 1^,371 5,186 5,540 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13 b) 10,526 912 773 2,09s 955 1,250 75^ 896 381 1,003 293 626 585 Reserve for contingencies 30,808 i,64s 7,501 2,996 3,000 l,4i6 2,595 5,325 893 1,211 807 1,363 2,053 All other liabilities 3,355 83 1,497 .155 174 33 101 5S7 171 121 188 76 169 TOTAL LIABILITIES 8,637,571 656,149 2,886,755 531,999 668,724 3^6,037 248,797 1,619,841 3^5,867 238,252 332,927 2l4,s64 5^7,359 Ratio of total reserves to deposit and F. R. note liabilities combined 71«3 75 »8 73.4 67.3 67.I 65.2 60.2 73.2 72.1 71.6 70.2 65.4 69.0 Contingent liability on bills purchased for foreign correspondents 567 209 56 54 21 20 66 17 13 15 15 40 Commitments to make industrial advane e s 10,846 1,668 4,502 302 1,169 412 719 30 1,210 28 806 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 31 days to Total Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days 6 months Over 6 months Bills discounted 17,221 15,588 223 677 701 31 1 Bills bought in open market 5,562 2,7^3 833 609 1,317 Industrial advances 14,826 186 656 878 1,243 11,816 U. S. Government securities 2,430,219 30,200 44,467 15^.252 201,873 405,891 1,593.536 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL EE SERVE NOTE S TATEMSNT OF JANUARY l6, 1935 (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 3,433,031 299,089 766,277 251,86l 311,591 172,624 146,608 804,358 143,168 108,0251 23,59^ 56,449 249,387 Held by Federal Reserve bank 333,981 39,504 118,334 21,749 13,753 12,010 17,998 36,191 4,795 4,397 9,544 6,207 49,499 In actual circulation 3.0S9.050 259,585 647,943 230,112 297,83s l6o,6i4 128,610 768,167 138,373 103,628 114,050 50,242 199,888 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,292,700 301,617 788,706 222,000 281,215 l40,340 88,385 812,513 143,936 109,000 123,550 57,675 223,763 Eligible paper 15,77S 451 4,473 845 310 277 196 9,009 27 57 32 101 U. S. Govt, securities 193,000 — 30,000 35,000 33 s 000 65,000 30,000 Total collateral 3,501,478 302,068 793,179 252,845 316,525 173,617 153.521 821,522 143,963 109,000 123,607 57,707 253,864 FEDERAL &ESERVE BAHK NOTE STATEMEFIT ON JANUARY l6, 1935 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank( outstanding) 37,165 1,511 25,446 10,208 — — Held by Federal Reserve bank 11,296 606 482 10,208 — — In circulation - net* 25,869 905 24,964 Collateral pledged against outstanding notes: Discounted and purchased bills 42,874 5,000 25,8 74 12,000 U. S. Govt, securities 42,874 5,000 25,374 12,000 Total collateral *Does not include $75,843,000 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