H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Released for publication B-S01 Friday morning, Feb. g; Federal Reserve Board riot earlier. February 7, 1935- COiiTITIOlT OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended February 6, as resorted by the Federal Reserve banks, was ,000,000, a decrease of $3,000,000 compared with the preceding week and of $153»000,000 compared with the corresponding week in On February 6 total Reserve bank credit amounted to $2,466,000,000, an increase of $6,000,000 for the week. This increase corresponds with increases of $49,000,000 in money in circulation and $91,000,000 in member bank reserve balances, offset in part by increases of $3U,000,000 in monetary gold stock and $6,000,000 in Treasury and national bank currency and by decreases of $77,000,000 in Treasury cash and deposits with Federal Reserve banks and $1^,000,000 in nonmember deposits and other Federal Reserve accounts. Relatively small changes were reported in holdings of bills discounted and purchased bills, United States Government•securities, and industrial advances. Changes in the amount of Reserve-"bank credit outstanding and in related items during the week and the year ended February 6, 1935, were as follows: Increase or decrease since Feb. 6 Jan. 30 Feb. 7 1935 1955 19^ (in millions of dollars) r Bills discounted O -1 -67 Bills bought b -91 U. S. Government securities 2,^30 - 2 Industrial advances" (not including 12 million commitments - February 6) 18 +1 +1S Other Reserve bank credit 6 +7 + 2 TOTAL RESERVE BAKK CREDIT 2/1-66 +6 -1U0 Monetary gold stock g.Usi +1,325 Treasury and national "bank currency 2,503 + 6 +202 Money in circulation 5,1+07 +^9 Member bank reserve balances M33 +91 +1,897 Treasury cash and deposits with F.R.banks 2,930 -11 -519 ITonmember deposits and other F.R.accounts 1+22 - 19 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for p\-blication Friday morning, February 8 1935» 210^ earlier• B-SOla 9 ASSETS AKD LIABILITIES OF THE TWELVE FEDEEAI. B3SEHVE BAMS COMBINED (In thousands of dollars) Feb. 6,1935 Jan. 30,1935 Feb. 7,1934 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . . . . . . .. . 5,445,101 5,350,959 3,513,171 Redemption fund - F« R. notes . . • . . 16,553 15,275 42,478 Other cash . . • • • » . • » . * « •. 270,330 280,320 220,899 Total reserves • 5,731,930 5,647,154 3,776,548 Redenrption fund - F. R. bank notes . • 1,986 12,520 1,759 Bills discounted: Secured "by U.S .Gov't. obligations, dir ect and/or fully guaranteed 3,12^ 3.55S 21,020 3,304, 3,500 52,307 Total bills discounted * . * . 6,428 7,05s 73.327 Bills bought in aoe'n market * . . • . * 5,503 5.53S 96,899 Industrial advances • 17,824 17,493 — U. S. Government securities: Bonds • , . . . . . . .. 395,630 395.652 442,7S5 Treasury notes . . • 1,511,66b 1,511,693 1,028,137 Certificates and bills 522,925 522,925 960,821 Total U.S .Government securities . 2,430,221 2,430,270 2,431,743 Other securities — 1,293 Total bills and securities . . .. . 2,1+59,976 2,460,359 2,603,262 Due from foreign banks . . . . . . .. S05 805 3.392 F. R. notes of other banks 17,165 19,672 15.377 Uncollected items . . . . .. 416,543 411,110 364,079 Bank premises 49,336 49,307 52,365 All other assets . . . . .. 45,286 48,444 115,564 TOTAL ASSETS . S,722,860 8,638,857 6,943,107 L I A B I L I T I ES F.R. notes in actual circulation . . . . 3,101,685 3.068,172 2,946,226 F.R. bank note circulation - net . . . 25,627 25.697 201,984 Deposits: Member bank - reserve account . . .. .. 44,,663322,,664477 44,,554411,,775555 2.735.701 U.S.Treasurer - General account . . . 35. ^ 56,481 84,912 Foreign bank . . . .. 13,424 16,073 7.939 Other deposits l62,6s4 178,l4i 133,939 Total deposits 4,81+4,189 4,792,450 2,962,541 Deferred availability items . 1+11,1*55 412,710 365.119 Capital paid in 146,868 146,870 145,222 144,893 144,893 13s,3S3 Surplus (Section 13 b) 12,351 11,560 -- Reserve for contingencies . . . . . .. 30,822 30,820 22,523 All other liabilities . . . . . . . .. 5,270 5.6S5 161,109 TOTAL LIABILITIES . . . . . 8,722,860 8,638,857 6,943,107 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 72. 71.856 63.9 f Contingent liability on bills purchased for foreign correspondents . . . .. 366 317 4,478 Commitments to make industrial advances 12,314 n.739 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAMS OH FEBRUARY 6, 1935 A S S E TS (In thousands of dollars) B-SOlb To tal Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn • Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S.. Treasury 5,1+1+5,101 1+03,1+17 2,112,095 261+,732 380,828 i8i+,097 111,32s 1,029,025 197,^53 13s,6U0 192,279 112,1+10 313,797 Redemption fund - F. R. notes 16,559 512 1,636 2,212 1,560 1,426 3,555 81+8 503 223 521 250 3,313 Other cash 270,330 32,1+12 69,838 36,937 13,185 12,095 ll+, 1+18 30,682 10,591 11,336 11,890 7,379 19,567 Total reserves 5,731,990 1+1+1,3!+! 2,183,569 303,881 395,573 197,618 129,301 1,060,555 208,51+7 150,199 20^,690 120,039 336,677 Redemption fund - F.R.bank notes 1»759 250 1,509 — — — — — — — — — — Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteed 3,12^ 332 l,66l ?7S U90 100 55 — 18 —— 80 — 10 Other bills discounted 3,301+ 16 2,386 1+1+1 122 156 56 — — — 80 17 30 Total bills discounted 6,1+28 3I+8 l+,0i+7 819 612 256 ill — is 160 17 1+0 Bills bought in open market 5,503 1+01+ 2,102 555 523 20l+ 198 651 105 81+ ll+9 ll+3 385 Industrial advances 17,821+ 1,81+9 1,071 3,79S 1,152 2,773 1,057 1,266 1+78 1,809 635 1,283 653 U. S. Government securities: Bonds 395,630 23,207 lHl,01S 25,137 30,559 ll+,S59 13,5^1 62,11+5 13,795 15,35S 13,33!+ 18,820 23,857 Treasury notes 1,511,666 99,055 1+77,501 105,01+9 13l+,l+lS 65,31+6 59,1+1+5 273,635 58,1+91+ 37,1^+2 57,837 38,789 101+.955 Certificates and bills 522,925 35,^09 159,299 36,93^ 48,048 23,35S 21,250 92,563 20,911 13,095 20,673 13,866 37,519 Total U.S.Gov't. securities 2,1+30,221157,671 777,818 167,120 213,025 103,563 9^,236 ^28,3^3 93,200 65,595 9l,8l+l+ 71,1+75 166,331 Total bills and securities 2,^59,976 160,272 785,038 172,292 215,312 106,796 95,602 !+30,260 93,801 67,1+88 92,788 72,93-8 167,1+09 Due from foreign banks 805 60 317 S3 76 30 29 97 8 6 22 21 56 F. R. notes of other banks 17,165 312 3,638 531 S37 2,585 1,122 2,138 931 693 1,355 359 2,661+ Uncollected items 1+16,51+3 1+3,305 96,221 33,601 3S,137 36,936 16,759 55.609 19,391 10,961+ 26,888 15.952 22,780 Bank premises ^9,336 3,16s 11,508 1+,515 6,629 3,028 2,325 *+,955 2,628 1,580 3,^7 1,681+ 3,869 All other assets 1+5,286 670 31,5^9 ^,75*+ 1,573 1,323 1,770 885 231 753 293 921+ 561 TOTAL ASSETS 8,722,860 61+9,372 3.113.3^9 519,657 658,137 3^,316 2U6.908 1.55M99 325,537 231,683 329,^83 211,897 53^,016 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 6, 1935 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, P.R.notes in actual circulation 3t 101,6S5 263,980 652,468 229,911 297,ggo 156,029 126,026 770, S32 138,126 103,908 115,776 4g64S 198,101 t F.R.bank note circulation - net 25,627 1.303 24,324 — Deposits: Member "bank - reserve account 4, 632,61+7 309,325 2,108,91*+ 219,577 283,420 138,271 84,457 672,953 11+0,699 99,467 176,325 127,801 271,^38 U.S.Treasurer - General account 3 5 ,^ 1,296 9,752 836 2,608 1,1+59 2,985 6,379 2,657 911 752 4,506 1,293 Foreign bank 13,424 1,007 4,165 1,1+80 1,348 F •. T 36 4s4 i,si4 ^77 316 397 1+02 998 Other deposits _ 162,6g4 _ M 38 100,855 2,4l4 3,885 3,028 3,187 3,399 12,86!+ 7.127 1,103 2,016 17,968 Total deposits 4,844,189 316,466 2,223,686 224,307 291,261 143,294 9l,H3 684,545 156,697 107,821 178,577 13^,725 291,697 Deferred availability items 411,155 43,326 92,664 31,526 37,210 35,647 16,365 57,350 20,50s 10,831 26,213 18,595 20,920 Capital paid in l46,s68 10,792 59,714 15,131 13,146 4,966 4,373 12,759 4,049 3,13^ 4,046 4,021 10,737 Surplus (Section 7) 144,893 9,902 49,964 13,470 14,371 5,18b 5,5^0 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13^) 12,351 1,789 877 2,09s 1,007 1,697 754 1,241 381 1,003 293 626 585 Reserve for contingencies 30,822 1,648 7,501 2,996 3,000 l,4i6 2,598 5,325 894 1,211 80S 1,363 2,062 All other liabilities 5,270 172 2,151 218 262 Si 139 1,097 227 355 157 1U2 269 TOTAL LIABILITIES 8,722,860 649,378 3,113,349 519,657 658,137 3^8,316 246,908 1,55^,499 325,537 231,623 329,^3 211,897-53!+,016 Ratio of total reserves to deposit and F. R. note liabilities combined 72.1 76.0 75.9 66.9 67.1 66.0 59.5 72.9 70.7 70.9 69.5 65.5 6S.7 Contingent liability on bills purchased for foreign correspondents 366 23 166 31 30 12 11 37 9 8 9 8 22 Commitments to make industrial advances 12,314 1.7^5 4,757 291 1,325 593 738 453 1,299 30 2g — 1,055 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,428 4,693 673 715 299 38 10 Bills bought in open market 5,503 857 1,219 219 3.20S Industrial advances 17,824 139 551 748 1,298 1,052 14,036 U. S. Government securities 2,430,221 35,114 39,690 165,130 179,175 504,000 1,507,112 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOTE STATEMENT ON FEBRUARY 6, 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.baxtk by F.R.Agent 3,379.971 289,862 7^9,570 247,350 312,131 165,126 144,366 800,616 1U2,048 108,310 123,396 54,030 243,166 Held by Federal Reserve bank 278,286 2^,882 97,102 17,439 14,251 9,097 18,3^0 29,784 3.922 4,402 7.620 4S.06s In actual circulation 3,101,685 263,980 652,U6S 229,911 297,880 156,029 126,026 770,832 138,126 103,908 115,776 48,648 198,101 Collateral held by agent as security for notes issued to bank Gold certificates on hand and due from U. S. Treasury 3,256,1+50 301,617 788,706 216,500 283,215 139,340 80,685 805,513 137.936 109,000 124,000 54,675 215,263 Eligible paper 4,955 2,753 712 612 231 101 18 — 123 17 40 U.S. Govt, securities 191,000 32,000 30,000 29,000 65,000 5,000 30,000 Total collateral 3,452,1+05 301,965 791,459 249,212 313,827 168,571 145,786 805,513 142,954 109,000 124,123 54,692 245,303 FEDERAL RESERVE BANK NOTE STATEMENT ON FEBRUARY 6, 1935 (in thousands of dollars) Total Boston New York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. I'lans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank(outstanding) 36,272 1,511 24,553 10,208 Held by Federal Reserve bank 10,645 208 229 10,208 In circulation - net* 25,627 1,303 24,324 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 $72,520,000 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