H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMESTT FOR THE PRESS Released for publication B-801 Friday morning, Mar 1; Federal Reserve Board # not earlier. February 28, 1935• CONDITION OF FEDERAL RESERVE BABES The daily average volume of Federal Reserve bank credit outstanding during the week ended February 27, as reported by the Federal Reserve banks, was $2,H53,000,000, a decrease of $13,000,000 compared with the preceding wee:: and of $121,000,000 compared with the corresponding week in 193**• On February 27 total Reserve bank credit amounted to $2,^50,000,000, an increase of $2,000,000 for the week. This increase corresponds with increases of $7l+,000,000 in Treasury cash and deposits with Federal Reserve banks and $17,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $2,000,000 in Treasury and national bank currency, offset in part by an increase of $35,000,000 in monetary gold stock and a decrease of $57,000,000 in member bank reserve balances. Relatively small changes were reported in holdings of 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 27, 1935* were as follows: Increase or decrease since Feb. 27 Feb. 20 Feb. 2S im 1935 19^ (In millions of dollars) 3ills discounted 6 -58 3ills bought 6 — -56 J. S. Government securities 2,^30 -2 Industrial advances (not including lU million commitments - February 27) 19 — +19 )ther Reserve bank credit -12 -20 —~ ?0TAL RESERVE BAilK CREDIT 2.U50 +2 -117 ' 0 netary gold stock +35 +1,086 Preasury and national bank currency 2,520 -2 +2 IS toney in circulation 5.^2 —— +SS lember bank reserve balances -57 +1,1+95 k ?reasury cash and deposits with J1. R .banks 3,006 +1 -1*35 lonmember deposits and other S'.E.accounts 457 +17 +38 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 1, 19355 n0,fc earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Feb. 27,1935 Feb. 20,1935 Feb .28,193*1 A S S E TS Gold certificates on hand and due from U # S # Treasury 5,543,025 5,516,081 3,895,811 Redemption fund - F # R« notes • . . 15,799 15,852 35,138 Other cash • , • 257,047 253,317 208,721 Total reserves 5,S15.S71 5,785,250 4,139,676 Redemption fund - f 9 R. bank notes • • • 250 250 12,595 Bills discounted: Secured by TJ S»Govft obligations,direct # # and/or fully guaranteed . • . . * • • 3,113 2,719 1188,,336622 Other hills discounted 3,351 3,207 46,028 Total hills discounted • . . t 5,926 64,390 * • Bills bought in open market . • * * t • • 5,505 5,501 62,345 Industrial advances • » • 19,163 18,729 « U. S. Government securities: Bonds * * • 395.688 395,7^! 442,830 1,5H,19S 1,511,675 1,055,420 Certificates and hills • . . . . • • • 523,425 522,925 , 933,701 Total U.S. Government securities • 2,430,311 2,430,34s 2,431,951 Other securities — 653 Total hills and securities # . • » • 2,^61,1+1+3 2,1+60,504 2,559,339 Due from foreign hanks • * p S03 807 3,485 F, R. notes of other banks • . • . 18,529 18,61+9 13,293 477,747 1+82,633 410,791 Bank premises 1+9,1+36 1+9,1+36 52,382 All other assets • • . • 46,657 1+5,811+ 117,441 • • • TOTAL ASSETS . . * . • • m 8,270,736 8,81+3,31+3 7,309,002 L I A B I L I T I ES P., R # notes in actual circulation . • * • 3,138,751 3,127,655 2,979,637 F» R. hank note, circulation - net l,32l+ 1,242 195,376 • • • Deposits: Member bank - reserve account # . • • * 44,, 558877,,99^^99 4,61+1+, 795 3,093,H9 U.S Treasurer - General account 99,181 38,1+22 45,261 # • • • 1^,355 13,629 3,^33 Other deposits , 196,7^6 178.973, 12^.568 Total deposits • • • • • l+, 292,231 4,875,819 3.265,381 1+90,259 495,913 406,909 147,031 145,310 146,953 144,893 144,893 138,383 Surplus (Section 13 b) 12,830 12,751 — 30,821+ 30,821 22,527 All other liabilities 6,593 7,296 155.479 TOTAL LIABILITIES , • • • 8,870,736 8,843,343 7,309,002 Ratio of total reserves to deposit and F, R. note liabilities combined . • # • 72.^ 7722..33$$ 6666..33$$ Contingent liability on bills purchased for foreign correspondents • . . 335577 336666 44,,883355 Commitments to make industrial advances • 13,963 12,940 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

A5S3TS AND LIABILITIES OP THE FEDERAL RESERVE BANIIS ON PEBRUA.Hr 27, 1935 A S S E TS (In thousands of dollars) B-801b Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ivans. Cy.D allas San Pran Gold certificates on hand and due from U. S. Treasury 5.543.025 398.427 2,106,196 283,312 415,885 186,165 112,817 1,080,935 193.022 140,4-55 189,931 118,355 317.525 Redemption fund - P. R. notes 15.799 375 1,307 2,080 1,640 1,359 3,459 660 445 476 49b 222 3,280 Other cash 257,01+7 28,993 72,656 3l+,6l+6 9,814 10,861 13,336 23,311 9,713 11,022 11,034 6,484 19,172 Total reserves 5,815,871 427,800 2,180,159 320,038 427,339 198,385 130,112 1 ,110,406 203,180 151,953 201,461 125,061 339,977 Redemption fund - P. R. "ban!-: note1 s 250 250 — — — — — — — — — Bills discounted: Secured by U.S.Gov't. obligations, direct and/or fully guaranteed 3,113 105 11,,8811++55 335533 226677 285 115 100 13 — 10 20 Other bills discounted 3,351 1+2 2,514 382 l4l 23 82 23 6 5 66 36 31 Total bills discounted 6,464 1^7 4,359 735 408 308 197 123 19 5 76 36 51 Bills bo-ught in open rnar::et 5,505 1+01+ 2,101+ 555 523 204 19s 651 105 84 149 143 385 Industrial advances 19,163 2,102 1,499 3,691 1,291 3,087 1,087 1,346 1+97 1,83s 633 l,4o6 686 U. S. Government securities: Bonds 395,688 23,211+ 139,945 25,136 30,558 1144,,885599 13,572 66ii,,oo6644 15,949 15,379 13,334 18,819 23,859 Treasury notes 1,511,19s 99,020 472,624 105,012 134,370 65,323 59,434 268,822 67,934 37,150 57.816 38,775 104,918 Certificates and bills . 523,425 35,1*1+5 157,749 36,972 48,096 23,380 21,272 90,957 24,317 13,10s 20,691+ 13,881 37,554 Total U.S.Govt, securities 2,1+30,311157,679 770,31s 167,120 213,024 103,562 94,27s 420,843 108,200 65,637 91,844 71,475 166,331 Total bills and securities 2,1+61,1+1+3 160,332 778,280 172,101 215,246 107,161 95,760 422,963 108,821 67,564 92,702 73,060 167,453 Due from foreign banks 803 60 315 83 76 30 29 97 8 6 22 21 56 P. R. notes of other "banks 18,529 334 6,634 526 1,210 928 1,327 2,268 815 710 1,083 276 2,418 Uncollected items 1+77,71+7 51,221 115,572 39,833 46,316 40,728 17,000 60,559 21,746 12,654 30,525 17,097 24,496 Bans premises 1+9,1+36 3,168 11,598 4,525 6,629 3.02s 2,525 4,955 2,62s 1,580 3.447 l,6s4 3,869 All other assets 1+6,657 650 33,043 4,643 1,520 1,3x0 1,757 94s 227 734 33s 903 584 TOTAL ASSETS 8,870,736 61+3,815 3,125,601 51+1,71+9 698,336 351.570 21+8,310 1,602,196 337,425 235,201 329,578 218,102 538,853 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE MHSS OF FEBRUARY 27, 1935 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3.138.751 266,235 658,338 F.R.bank note circulation - net 1.324 1.324 — Deposits: Uember - reserve account 4,587*9^9 290,872 2,051,971 221,443 302,120 133,995 81,6U3 696,627 11+3,688 100,987 167,1^2 133.229 264,221 U.S.Treasurer - General account 99,181 5,024 44,023 4,593 6,890 5,656 6,429 8,856 5.369 1,711 3,531 3,603 3,^91 349 Foreign bank 14,355 967 5.871 1,329 1,275 1+97 483 1,557 403 322 362 940 Other deposits 196,746 3.185 124,239 5,900 3.537 1.982 4, 7 49 5,023 1^,727 6,026 2,073 3,391 21,814 Total deposits 4,898,231 300,048 2,226,104 233,270 313,922 142,131 93.304 712,063 164,187 109,046 173,118 140,572 290,466 Deferred availability items 490,259 51,893 120,195 38,601 45,035 40,263 16,429 66,502 23,488 12,778 29,838 20,054 25,183 Capital paid in 147,031 10,763 59.724 15,142 13,113 5,053 ^.389 12,780 4,072 3,128 4,050 M17 io,79^ Surplus (Section 7) 144,893 9,902 49,964 13,470 1^,371 5,186 21,350 4,6^5 3,420 3,613 3.777 9,645 Surplus (Section 13 b) 12,830 1.789 877 2,098 1,007 1,697 75^ 1,330 ^77 1,003 523 626 649 Reserve for contingencies 30,824 1,648 7,501 2,996 3,000 l,4i6 2,599 5,325 894 1,211 809 1,363 2 062 r All other liabilities 6,593 213 2,898 24s 397 98 lb8 1,329 284 346 is6 161 265 TOTAL LIABILITIES 8.370,736 643,815 3,125,601 5^1.7^9 698,336 351.570 248,310 1,602,196 337,^25 235,201 329,578 218,102 538,853 Ratio of total reserves to deposit and F.R.note liabilities combined 72.4 75.5 75.6 68.2 68.8 66.6 59.6 7^.3 66.9 71.2 69.3 66.5 69.3 Contingent liability on bills purchased for foreign correspondents 357 23 157 31 30 12 11 37 9 8 9 22 Comraitments to mai:e industrial advances 13,963 2,282 5,449 298 1,322 627 731 ^53 1,^37 30 iss 1,146 MATURITY DISTRIBUTION OF BILLS AiTD SECURITIES 91 days to Total Within 15 days lb to 30 days 31 to 60 days 6l to 9° days Over 6 months 6 months Bills discounted 6,464 1+»353 880 332 671 ?l6 12 Bills bought in open market 5.505 3.388 702 704 711 Industrial advances 19,163 27^ 599 784 862 998 15,646 U. S. Government securities 2,430,311 44,540 128,010 170,174 93.096 494,2§4 1,500,197 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT Oil FEBRUARY 27, 1935 (in thousands of dollars) B-SOld Total Boston Hew 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,^22,825 287,1+81 758,622 251,888 321,908 16M53 1^2,719 818,189 1^5,503 108,618 123,792 53,877 246,075 ^Held by Federal Reserve bank 281+.07U 21,21+6 100,284 15,96^ ll+,l+23 8,1+27 17.592 36,672 6,135 3^9 6,351 6,31+5 1+6,286 In actual circulation 3.138,751 266,235 658,338 235,921+ 307,^85 155,726125,127 781,517139.368104,269 117,^1 ^7,532 199,789 Collateral held by agent as security for notes issued to bank: Bold certificates on hand and due from U.S.Treasury 3,298,357 301,617 788,706 222,000 292,215 l ^ ^O 80,685 826,1+20 133,936 109,500 125,000 5l+,675 220,263 Eligible paper ^,591 133 2,772 617 389 276 180 100 13 ~ 1+5 29 37 U. S. Govt, securities 189,000 — 30,000 30,000 21,000 65,000 13,000 — — — 30,000 Total collateral 3,1+91,9^8 301,750 791,^78 252,617 322,601+ I6U,6I6 11+5,865 826,520 11+6,91+9 109,500 125,01+5 5^,704 250,300 FEDERAL RESERVE BAM NOTE STATEMENT OH FEBRUARY 27, 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) 11,719 1,5H 10,208 Held by Federal Reserve bank 10,395 187 10,208 In circulation - net* 1,324 l,32l+ Collateral pledged against outstanding notes: Discounted and purchased bills 17,000 5,000 12,000 U. S. Govt, securities Total collateral 17,000 5,000 12,000 •Does not include $95,01+3,000 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