H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATfiLffiNi FOR THE PRESS Released for publication B-SOl Friday morning, Feb. 22; Federal Reserve Board not earlier # February 21, 1935. CONDITION OF FEDERAL RESERVE BA1TKS The daily average volume of Federal Reserve bank credit outstanding during the week ended February 20, as reported by the Federal Reserve banks, was $2,466,000,000 a decrease of $1,000,000 compared with the preceding week and of $124,000,000 compared with the corresponding week in 1934. On February 20 total Reserve bank credit amounted to $2,448,000,000, a decrease of $2,000,000 for the week. This decrease corresponds with a decrease of $63,000,000 in Treasury cash and deposits with Federal Reserve ba~ks and an increase of $33,000,000 in monetary gold stock, offset in part by increases of $65,000,000 in member bank reserve balances, $12,000,000 in money in circulation, and $13,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $3,000,000 in Treasury and national bank currency. Relatively small changes were reported in holdings of discoimted 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 20, 1935» were as follows: Increase or decrease since Feb . 20 Feb. 13 Feb. 21 1935 193^ (In millions of dollars) Bills discounted 6 -l -60 Bills bought 6 — -69 U. S. Government securities 2,430 — -2 Industrial advances (not including 1J million commitments - February 20) 19 +1 +19 Other Reserve bank credit -12 -2 -30 TOTAL RESERVE SAM. CREDIT 2,44g -2 -l44 Monetary gold, s.tock s,h g9 +33 +1,286 Treasury and national bank currency 2,522 -3 +221 Money in circulation 5.UU2 +12 +98 Member bank reserve balances 4,S4 +65 +1,815 5 Treasury cash and deposits with F.R.banks 2,932 -63 -567 Nonmember deposits and other F.R.accounts +13 +17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 22,1935; not earlier. B~S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Feb. 20.1935 Feb. 13.1935 Feb.21.193H A S S E TS Gold certificates on hand and due from U. S, Treasury 5,516,081 55..^^99..663399 3,712,311 15.852 16,5*19 >+1,503 Other cash . . . . . . . . .. 253.317 264,771 213,90*+ Total reserves . . . . .. 5,7^5,250 5.730,959 3,967,718 250 250 Redenqption fund - F. R. bank notes . . . 12,159 Bills discounted: Secured by U.S.Gov't, obligations.direct and/or fully guaranteed . 2,719 33..^^5511 18,927 Other bills discounted . . . . . . .. 3,207 3,059 1+7.51+0 Total bills discounted . . . . .. 5,926 6,510 66,1+67 5,501 5,502 75,111 Industrial advances . . . .. 18,729 18,375 — U. S. Government securities: 395,7^2 395.726 442,775 1,511,683 1,031,256 Treasury notes . . . . .. 1,511,675 Certificates and bills . 522.925 522,925 957,704 Total U. S. Government securities . 2,430,34s 2,430,334 2,431,735 Other securities — — 1,293 Total bills and securities . . .. 2,460,504 2,1+60,721 2,574,606 S07 805 Due from foreign bar-ks 3,4oo 18,649 16,763 15,027 432,633 415,332 396,209 Bank premises . . . .. . . . . . . .. 49,436 49,436 52,383 116,619 45,814 46.349 TOTAL ASSETS 8,81+3,343 8,720,615 7,138,121 L I A B I L I T I ES F. R. notes in actual circulation . .. 3,127,655 3.118,015 2,970,309 F. R. bank note circulation - net . . . 1,242 1,192 197,750 Deposits: Member bank - reserve account . . .. 4,644,795 44,,558800,,334411 2,830,118 165,546 U.S.Treasurer - General account . . . 38,422 72,31? Foreign bank . . . . . . . . . . .. 13,629 13.567 4,871 167,91+5 1,7.8. m 127,349 4,834,165 Total deposits 4,875,819 3,127.884 1+26,371 Deferred availability items . . . . .. 495,913 382,533 Capital paid in . 146,953 , 146,928 145,309 144,893 144,893 138,383 Surplus (Section 13 b) 12,751 12,1+1+7 — Reserve for contingencies . . . . . .. 30,821 30,822 22,524 All other liabilities . . .. 7,296 5,782 TOTAL LIABILITIES 8,8^3,31+3 8,720,615 7,138,121 Batio of total reserves to deposit and F. R. note liabilities combined . .. 7722..33$$ 72.1* 65.1st Contingent liability on bills purchased for foreign correspondents . . . .. 366 336666 4,635 Commitments to make industrial advances 12,940 12,51+0 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON FEBRUARY 20, 1935 A S S E TS (In thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 5.516,081 1+0^220 2,128,108 269,SIS 1+01,265 1S7,559 109,360 1,053,715 199,305 136,203 188,1+31+ 119,392 31S,702 Redemption fund - F. R. notes 15,852 375 1,307 2,128 1,61+0 1,359 3,^59 660 1+1+5 I+76 I+96 227 3,280 26,958 6,533 Other cash 253,317 29,578 70,710 35,231 10,35S 10,^02 13,21+7 9,599 10,871 11,035 18,795 5,785,250 2,200,125 307,177 1+13,263 126,066 209,31+9 126,152 Total reserves ^,173 199,320 1,081,333 1*47,550 139,965 3^0,777 Redemption fund - F. R. bank notes 25O 250 Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteed 2,719 71 1,420- 323 287 215 1^0 200 13 — 10 20 20 Other bills discounted 3,207 8 2,517 378 122 31 1+9 — — — 67 17 18 21+6 189 200 Total "bills discounted 5,926 79 3,937 701 U09 13 — 77 37 38 Bills bought in open market 5,501 1+0I+ 2,100 555 523 201+ 198 651 105 81+ ll+9 11+3 385 Industrial advances IS,729 2,001+ 1,321 3,7S3 1,217 2,97*+ 1,086 1,356 1+97 1,832 633 1,350 676 IL. S Government securities:.; # Bonds 395,7^8 23,215 139,9^ 25,137 30,55S iM59 13,637 61,065 15,9^9 15,37^ 13,333 18,818 23,859 treasury notes 1*511.675 99,055 1+72,770 105,01+9 134, Ui86 5,^1+6 59,1+1+5 268,902 67,958 37,150 57,837 38,790 101+.955 Certificates and bills 522,925 35,^09 157,6oU 36,931+ 1+8,01+8 23,357 21,251 90,876 2l+,293 13,095 20,671+ 13,867 37,517 Total U.S.Govt, securities 2,1+30,31+8 157,679 770,31s 167,120 213,021+ 103,562 9^,333 1+20,81+3 108,200 65,619 9i,si+i+ 71,1+75 166,331 Total "bills and securities 2,1+60,501+ 160,166 777,676 172,159 215,173 106,986 95,806 1+23,050 108,815 67,535 92,703 73,005 167,1+30 Due from foreign "banks 807 60 319 S3 76 30 29 97 8 6 22 21 56 3T; E. notes of other banks 18,61+9 326 5,609 51+9 1,023 1,369 l,ll+S 2,572 1,228 697 81+3 26I+ 3,021 Uncollected items 1+82,633 1+9,81+3 130,061+ 36,1+18 1+3,882 38,1+1+5 15,815 67,575 21,220 11,756 27,21+2 18,803 21,570 Bank premises 1+9,1+36 3,168 11,598 i+,525 6,629 3,028 2,325 ^,955 2,628 1,580 3,1+1+7 i,6si+ 3,869 All other assets i+5,sii+ 696 32,132 i+,636 1,557 1,356 1,770 955 230 73S 299 891+ 551 TOTAL ASSETS 8,81+3,31+3 61+8,682 3,157,523 525,5^7 681,603 350,53^ 21+2,959 1,520,537 3^3,^78 229,862 32*+,52l 220,823 537,27*+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAPS ON FEBRUARY 20, 1935 L I A B I L I T I ES (In thousands of dollars) B-S01c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3.127,655 265,952 653,731 231+^96 303,766 15!+, 087 126,378 777,1|67 138,722 IOH,802 116,19^ ^8,073 198,987 F.R.bank note circulation - net l,2*+2 1,2U2 Deposits: Member bank - reserve account MHH.795 297,9^ 2,117,029 217,622 295.692 138,71+1+ 80,97^ 681,1+52 151,567 95,032 167,720 137,80H 263,21 U.S.Treasurer - General account 38,1+22 3,557 7,628 1,259 1,771 2,672 2,789 3,8^3 ^.736 1.753 1.26s 1,352 5,79 Foreign bank 13,629 967 5,ll+5 1,329 1.275 1+97 1+83 1,557 ^3 322 362 3*+9 9U0 Other deposits 172,973 3,856 114,3^8 1,823 3.51s 2,107 2,72s i+,29l 15,183 6,636 2,083 2,023 20,377 Total deposits 1+,875.819 306,321+ 2,2^,150 222,033 302,256 ll+l+,020 86,971+ 691,11+3 171,889 103,7^3 171,1+33 ll+l,528 290,326 Deferred availability items 1+95,913 50,876 132,640 35,009 U3.7W 39,017 16,196 70,185 22,33^ 12,221 27,7^1 21,303 24,61+5 Capital paid in 11+6,953 10,761+ 59,711 15,ll+5 1133,,112211++ 5,006 *+,372 12,76s 1+.071 3,133 l+,0l+8 i+,oi7 10,791+ Surplus (Section 7) lUl+,893 9,902 1+9,961+ 13,^70 1144,,337711 5,186 5,51+0 21,350 M 55 3,^20 3,613 3,777 9,61+5 Surplus (Section 13 b) 12,751 1,789 877 2,098 1,007 1,697 75^ 1,315 ^77 1,003 523 626 535 Reserve for contingencies 30,821 1,61+8 7,501 2,996 3,000 1,1+16 2,597 5,325 891+ 1,211 808 1,363 2,062 All other liabilities 7,296 185 3,9^9 300 333 105 lHS 9Si+ 1+36 329 161 136 230 TOTAL LIABILITIES 8,8^3,31+3 61+8,682 3,157,523 525,5^7 681,603 350,53^ 21+2,959 1.580,537 3^3,^78 229,862 32*+,521 220,823 537,27*+ Ratio of total reserves to deposit and F.R.note liabilities combined 72.3 75.9 75.S 67.3 68.2 66.9 59.1 73.6 67.H 70.8 69.5 66.5 69.6 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 12,91+0 1.933 1+.930 310 1,326 627 732 *+53 1.335 30 iss -- 1,076 MATURITY DISTRIBUTION OF BILLS AND 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 5,926 *+»528 733 157 271 227 10 Bills bought in open market 5,501 3,^99 163 905 93>+ Industrial advances 18,729 97 1+32 1,225 893 925 15,157 U, S. Government securities 2,1+30,3^+8 39,690 12l+, 180 179.05^ 92,368 503,130 1,1+91,926 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON FEBRUARY 20, 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,^19,985 286/482 7^,075 250,9^9 317,228 162,276 1^3,28^ 815,2^5 lUU,782 109,059 12U,031 53,577 2US,997 Held by Federal Reserve "bank 292,330 20,530 105,3^ 16^53 13,^62 8,189 16,906 37,778 M 60 4,257 7>837 5»5W 50|010 In actual circulation 3,127,655 265,952 658,731 23^,^6 303,766 I5M87 126,378 777,^7 13S,722 104,802 116,1$* ^8,073 19S,987 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3,280,827 301,617 788,706 216,500 288,215 139,3^0 80,685 819,390 135,936 105,500 125,000 514,675 225,263 2,379 598 U09 221 179 200 13 — kj 37 38 Eligible paper i+,201 80 199,100 35,000 30,000 25,000 65,000 -- 10,000 4,100 ~ ~~ 30,000 U. S. Govt, securities 3,UsUl28 301,697 791,085 252,098 31s,62k 16l+,561 145,sSk 819,590 1^5,9^9 109,600 125,01+7 5^,712 255,301 Total collateral f FEDERAL RESERVE BANK NOTE STATEMENT ON FEBRUARY 20, 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: 11,719 1,511 -- 10,208 — Issued to F.R.bank(outstanding) 10,1+77 269 — 10,208 — Held by Federal Reserve bank In circulation - net* 1,2^2 1,2^2 —— —— — — —— —— — —— Collateral pledged a?ainst outstanding notes: Discounted and purchased bills 17,000 5,000 12,000 — — — U. S. Govt, securities 17,000 5,000 — 12,000 ~ Total collateral •Does not include $95»62^,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