H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, Feb* 1; Federal Reserve Board not earlier. January 31, 1935• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve tank credit outstanding during the week ended January 30, as reported by the Federal Reserve banks, was $2,^66,000,000, a decrease of $2,000,000 compared with the preceding week and of $17^,000,000 compared with the corresponding week in I93H. On January 30 total Reserve bank credit amounted to $2,U60000,000, a decrease f of $3,000,000 for the week. This decrease corresponds with an increase of $79,000,000 in monetary gold stock, offset in part by increases of $11,000,000 in money in circulation, $41,000,000 in member bank ' reserve balances, $13,000,000 in Treasury cash and deposits with Federal Reserve banks and $7,000,000 in nonmember deposits and other Federal Reserve accounts, and by a decrease of $3,000,000 in Treasury and national bank currency. Holdings of bills discounted declined $2,000,000 and industrial advances increased $1,000,000. An increase of $5,000,000 in holdings of United States Treasury notes was offset by a decrease of $5,000,000 in Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January 30» 1935> were as follows: Increase or decrease since Jan. 30 Jan. 23 Jan. 31 1935 1935 1934 (In millions of dollars) Bills discounted 7 - 2 - 76 Bills bought 6 -105 — U S. Government securities 2,^30 - 4 — t Industrial advances (not including 12 million commitments - January 30) 17 + 1 +17 Other Reserve bank credit -l - u - 3 TOTAL RESERVE BAI7K CR2DIT 2/460 - 3 -170 Monetary gold stock S,3S7 +79 +4,354 Treasury and national bank currency 2,497 - 3 +l 95 Money in circulation 5,35S +11 +69 Member bank reserve balances 4,542 +4l +1,890 Treasury cash and deposits with F.R.banks 3,007 +13 +2,410 Nonmember deposits and other F.R.accounts 436 + 7 + g Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

n ot Helensed for publication Friday morning, February 1, 1935; earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDE3AL RESERVE BAEKS COMBINED (In thousands of dollars) Jan. 30,1935 Jan. 23,1935 Jan. 31.191 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . . . .. 5,350.959 5,281,298 3,513,884 Redemption fund- E.S.&oteg . . . 15,875 17,39S ^3,356 # Other cash . . . . 280,320 286,400 234,848 Total reserves . . . . .. 5,614-7,154 5,525,096 3,792,088 • . . ^Redemption fund - F. R. bank notes ... 1,986 1,579 12,977 Bills discounted: Secured by U.S.Gov't. obligations ,direct and/or fully guaranteed . • . 3,55S 55,,229944 2266,,337777 • • . Other bills discounted . . . . . 3,500 3,394 56,355 Total bills discounted . . 7,05S 8,688 82,732 Bills bought in open market . • . 5,53S 5,539 111,397 Industrial advances . . . . . .. ... 17,^93 15,636 — U, S. Government securities: Bonds . 395,652 395,650 445,012 Treasury notes 1,511,693 1,506,688 1,028,139 Certificates and bills . . . .. • . . 522,925 527,925 960,819 Total U.S•Government securities . 2,430,270 2,430,263 2,433,970 Other securities . . ... — — 1,293 Total bills and securities ... 2,'4-60,359 2,460,126 2,629,392 Due from foreign banks . . . . .. S05 805 3,392 F. R. notes of other banks . • . • 19,672 22,324 15,780 Uncollected items 411,130 446,365 364,053 Bank premises . . . . . . . . .. 49,307 49,306 52,339 All other assets 4s,444 46,961 118,675 TOTAL ASSETS . . .. 2,638,857 8,612,562 6,988,696 L I A B I L I T I ES F. R. notes in actual circulation ... 3,068,172 3,066,915 2,926,243 F. R. bank note circulation - net ... 25,697 25,603 203,057 Deposits: Member bank - reserve account . ... 44,,554411,,775555 4,500,919 2,651,945 U.S.Treasurer - General account • . . 56,481 49,155 241,860 Foreign bank ... 16,073 19,083 3,952 Other deposits 178,l4l 169,073 137,27s Total deposits . . .. ... 4,792,450 4,732,230 3,035,035 Deferred availability items . . . 412,710 444,405 366,476 Capital paid in 146,870 146,888 145,359 Sumlus (Section f) 144,893 144,893 138,383 Surplus (Section 13 b) 11,560 10,669 Reserve for contingencies . . .. 30,S20 30,820 22,523 All other liabilities . . . . .. ... 5,685, M59 151.620 TOTAL LIABILITIES . . . ... 2,638,S57 8,612,562 6,988,696 Ratio of total reserves to deposit and F. R. note liabilities combined ... 71.$ 71.656 63.6$ Contingent liability on bills purchased for foreign correspondents . . . ... 317 317 MM 7777 Commitments to make industrial advances 11,739 11,109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JSJID LIABILITIES OP THE FEDERAL RESERVE BAMS Oil JAMJARY 30, 1935 A S S E TS (In thousands of dollars) B-SOlb Total Boston ITev; York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 5,350,959 403,460 2,041,711 271,105 384,935 178,408 107,329 1,017,280 205,273 137,126 191,248 111,396 301,688 Redemption fund - E. R. notes 15,875 522 727 2,238 1,581 1,431 3,564 914 507 232 531 253 3,375 Other cash 280,320 31,588 70,206 36,396 14,269 13,305 15,695 32,926 11,828 12,184 12,191 8,323 21,409 Total reserves 5,6U7,15^ ^35,570 2,112,644 309,739 400,785 193,144 12b,588 1,051,120 217,608 149,542 203,970 119,972 320,472 Redemption fund - F.R.bank not es 1,986 250 1,736 — — — — — — — — — Eills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed 3,558 237 2,0^6 395 466 125 110066 — 28 — 80 15 50 Other bills discounted 3,500 16 2,575 435 123 156 64 14 — — 69 17 31 Total bills disco-anted 7,058 253 4,631 830 5S9 281 170 14 28 — 149 32 81 Bills bought in open market 5,538 4o4 2,102 555 <523 204 233 651 105 84 149 1^3 3S5 Industrial advances 17,^93 1,834 1,064 3,595 1,134 2,773 1,019 1,267 479 1,817 633 1,225 653 U. S. Government securities: Bonds 395,652 23,207 141,018 25,137 30,559 14,858 13,531 62,146 13,795 15,390 13,333 18,821 23,857 Treasury notes 1,511,693 99,055 477,501 ,105,049 134,418 65,3^6 59,446 273,635 58,494 37,16s 57,837 38,789 104,955 Certificates and bills 522,925 35,409 159,299 36,93^ 4s,047 23,358 21,251 92,562 20,911 13,096 20,674 13,865 37,519 Total U.S.Gov't, securities 2,4^0,270 l^f,bfl 777,818 167,120 213,024 103,562 94,228 428,343 93,260 65,654 91,844 71,475 166,331 Total bills and securities 2,460,359 160,162 785,615 172,100 215,270 106,820 95,650 430,275 93,812 67,555 92,775 72,o75 167,450 Due from foreign "banks 80R 60 316 77 30 29 97 8 6 22 21 56 J. R. notes of other banks 19,672 537 5,17S 436 900 3,390 1,255 2,022 1,130 691 1,520 293 2,320 Uncollected items 411,130 43,645 97,953 33,581 4I,2D2 3^,970 14,261 56,269 18,896 9,530 23,178 lo,3l4 21,271 Bank premises ^9,307 3,168 11,508 4,4s6 6,629 3,028 2,325 4,955 2,62s 1,580 3,447 1,684 3,869 All other assets 48,444 673 34,148 5,252 1,557 1,337 1,776 925 237 745 340 873 581 TOTAL ASSETS 8,638,857 644,065 3,049,098 525,677 666,4SO 342,719 24i,ss4 1,545,663 33^,319 229,649 325,252 212,032 522,019 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAKES OH JAMJARY 30, 1935 L I A B I L I T I ES (In thousands of dollars) B-SOlc To tal Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ifens.Cy. Dallas San Fran. F.R.notes in actual circulation 3*0b3,172 259,906 61+3,699 ?30,530 296,091 156,167 125,U36 762,607 136,685 101,S5l+ 113,059 1+8,230 193,908 ?.Rbank note circulation - net 25? 697 1,114 24,583 # Deposits: Member "bank - reserve account 4,541,755 30s,46? 2,033,1+33 21S,5Ug 283,899 128,665 79,55^ 676,357 11+6,269 100,712 177,9b2 128,986 258,908 U.S .Treasurer - G-eneral account 5^*^31 1,066 9,949 1,903 8,573 7.671 5,820 2.1^9 8,763 2,321 192 3,336 4,238 Foreign bank ib,073 1,331 3.969 1,92b 1,775 703 646 2,336 612 1+25 51S 519 1.313 Other deoosits 176 4,207 117,610 5,029 3,502 1,855 2,931+ 11,797 5 ,1+1+2 1,381+ 2,122 18,171+ Total deDOsits 4,792,450 315,066 ; 2,164,961 228,406 297,749 138,894 89,105 683,776 167,441 108,900 180,056 135,463 282,633 Deferred availability items 412,710 1+3,621 95,667 32,43s 40,805 34,779 13,780 57,913 19,974 9,990 23,154 18,397 22,192 Capital paid in 146,270 10,824 pp99,,770011 15,131 13,144 4,969 4,368 12,726 4,049 3,132 4,o46 4,037 10,743 Surplus (Section j) 144,293 9,902 4499,,996644 13,470 14,371 5.186 5,540 21,350 4,655 3.420 3,613 3,777 9,645 Surplus (Section 13b) 11,560 1,789 877 2,09s 1,007 1,251 754 896 381 1,003 293 626 585 Reserve for contingencies 30,220 1,64s 7,501 2,996 3,000 l, 4l6 2,59s 5,325 893 1,211 807 1,363 2,062 All other liabilities 5*625 195 2,145 608 313 57 303 1,070 241 139 224 139 251 TOTAL LIABILITIES 2,632,257 644,065 3,049,092 525,677 666,4go 342,719 241,884 1,545,663 334,319 229,649 325,252 212,032 522,019 Ratio of total reserves to der> osit and F. R. note liabilities combined Jl*8 75.8 75.2 67.5 67.5 65.5 59.0 72.7 71.6 71.0 69.6 65.3 6S.5 Contingent liability on bills purchased for foreign correspondents 317 23 116 31 30 12 11 37 10 8 9 8 22 Commitments to malce industrial advances 11,739 1.721 4,727 293 1,326 592 734 53 1,207 — 28 — 1,053 1.1A.TURITY DISTRIBUTION OF 3ILLS AHD SECURITIES 91 days to Total Within 15 days 16 to 3O days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 7,055 5,1+lb 627 635 352 22 Bills •ub uo uaggh.t in open market 5,53S 657 1,50b 386 2,989 Industrial advances 17,.493 92 146 1,184 901+ 681+ ll+,l+S3 U. F. Government securities 2,1+30,270 39,467 36,222 175,030 172,177 1+19,985 1.587,389 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEHAL RESERVE NOTE STATSMEfTT Oil JAMJARY 30, 1935 (In thousands of dollars) B-SOld Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.'bank oy F.R.agent 3,365,435 290,066 7^3,23S 248,862 312,108 166,309 144,923 792,084 140,927 107,125 122,915 53,307 243,571 Held by Federal Reserve bank 297,263 30,l60 99,539 IS,332 16,017 10,142 19,487 29,477 4,242 5,271 9,556 5,077 49,663 In actual circulation 3,068,172 259,906 643,695 230,530 296,091 156,167 125,436 762,607 136,685 101,854 113,059 1+8,230 193,908 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,258,370 301,617 788,706 216,500 282,215 139,3^0 83,085 800,513 141,936 109,000 124,020 55,675 215,763 Eligible paper 5,587 253 3.335 71^ 589 256 171 14 28 -- 114 32 81 U.S. Govt, securities 186,000 — 32,000 30,000 29,000 65,000 •^0.000 Total collateral 3,449,957 301,870 7Q9 ,oUi 2ko2ib 312,sou 162,596 143,256 800,527 i4i,964 iog,ooo 124,134 55,707 245,S44 t FEDERAL RESERVE BAFX NOTE STATEMSFT 01 JAKIIA.RY 30, 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( out standing 36,^99 1,511 24,7S0 10,20S a Held by Federal Reserve bank 10,802 397 197 10,20S ~ — In circulation - net 25,697 1,11^4 24,523 Collateral pledged against outstanding notes: Discounted and purchased bills U. S. Govt, securities 42,074 5,000 25,074 12,000 Total collateral 42,074 5,000 25,074 12,000 *Does not include $74,016,000 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