H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Mar. S; Federal Reserve Board not earlier. March 7» 1935• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended March 6, as reported by the Federal Reserve banks, was an increase of $6,000,000 compared with the preceding week and a decrease of $100,000,000 compared with the corresponding week in 193^» On March 6 total Reserve bank credit amounted to $2,^52,000,000, an increase of $2,000,000 for the week. This increase corresponds with increases of $36,000,000 in money in circulation and $26,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $3,000,000 in Treasury and national bank currency, offset in part by an increase of $22,000,000 in monetary gold stock and decreases of $33,000,000 in member baric reserve balances and of $8,000,000 in Treasury cash and deposits with Federal Reserve banks. Relatively small changes were reported in holdings of discounted and purchased bills and of industrial advances. Decreases of $18,000,000 in holdings of United States Treasury notes and $2,000,000 in United States bonds were offset by an increase of $20,000,000 in holdings of Treasury bills* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended March 6, 1935t were as follows: Increase or decrease since Mar. 6 Feb, 27 Mar, 1 m 193^ (In millions of dollars) Bills discounted 6 —— -53 Bills bought 6 -Ho -- U. S. Government securities 2,^30 -2 Industrial advances (not including 15 million commitments - March 6) 19 —— +19 Other Reserve bank credit -9 +3 -11 TOTAL RESERVE BANK CREDIT 2,1+52 +2 -87 Monetary gold stock 8,^6 +22 +990 Treasury and national bank currency 2,517 -3 +205 Money in circulation +36 +10U Member bank reserve balances ^,555 -33 +1,2^2 Treasury cash and deposits with F.R.banks 22,,9999SS -g -296 Nonmember deposits and other F.R. accounts UUSS33 +26 +56 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 8,1935? not earlier, B-SOla ASSSTS m) LIABILITIES OP THE TWELVE FEDERAL RESERVE BASES COMBINED (In thousands of dollars) Mar. 6,1955 Teb. 27,1955 Mar, 7.1931* A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . • . 5.55S,087 5,5^3.025 4,152,94s Redemption fund - F. R. notes . . 15,950 15i799 3^.153 0. tiicr cciBiX . «. * • • « . . « •« 247,266 257,047 210.841 Total reserves . . 5.S19.303 5,815,871 4,397,952 Redemption fund - i. R. barJc notes 250 250 11,111 Bills discounted: Secured by U.S.Gov't, obligations,direct and/or fully guaranteed. . . . 2,830 3,113 15,H7 Other bills discounted . . . .. 2x228 3*351 43.460 Total bills discounted . 6,108 6,464 58.577 Bills bought in open market . . .. 5,506 5,505 46,366 19,1+70 Indue tri al advanc e s 19,163 U. S. Government securities; Bo nds . * • • « • * * • • « . .. 39U.3SS 395,688 442,843 1,068,318 Treasury notes 1,5H,19S 1,492,673 Certificates and bills . . . .. 523.425 920,702 Total U.S.Government securities 2,430,311 2,431,863 2,430,486 Other securities . 651 Total bills and securities . . 2,461.570 2,461,443 2,537,^59 802 Due/ from foreign banks 803 3,128 F. R. notes of other banks lb,113 13,529 13,145 Uncollected items 1+57,509 477,747 392,474 52,431 Bank premises . . 1+9,453 49,436 All other assets . . 1+7.088 — i t ^i 118.286 TOTAL ASSETS 8,852,088 8,870,736 7,525,986 L I A B I L I T I ES P. R. notes in actual circulation . . . 3,159,939 3,13s,751 3,002,345 F. R. bank note circulation - net . . . 1,2c 1,324 134,543 Deposi ts: Member bank - reserve account . . .. 4,554,816 MS7.949 3.312.7S7 U.S.Treasurer - General account . . . 88/485 99.1S1 3^,926 Foreign bank 16,323 1^.355 4,024 Other deposits Total deposits 4,880,023 4 £9^,23l 3,480,900 f Deferred availability items 467,797 490,259 394,161 Capi tal paid in 11+6,990 147,031 146,118 Surplus (Section j) . . . . . . . . .. 144,893 144,893 13S,3S3 Surplus (Section 13 b) 13.^7 12,830 Reserve for contingencies . . 30,822 30,824 22,528 All other liabilities ^300 _-_. .6,59.3.. 157.008 TOTAL LIABILITIES 8,852,088 8,870,736 7,525,986 Ratio of total reserves to deposit and F. R. note liabilities combined . . , 72 M 72.4$ 67.8/0 Contingent liability on bills purchased f0 r foreign correspondents 286 357 4,931 Commitments to make industrial advances ll+,85l+ 13,963 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS 0V MAJICH 6, 1935 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila* Cleve. Rich. Atlanta Chicago Si.Louis Miim. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 5,55^,037 UlO,U22 2,06H,710 292,285 U20.109 20^,236 116,112 1,053,122 193,785 1^3,916 20^,437 115,909 332,Okk Redemption fund - F. R. notes 15,950 3^5 1,151 2,018 1,5SU 2,07^ 3 MS 5«0 ^28 U68 U6l 206 3,219 Other cash 2^7,266 27,516 71,706 3**>958 9,2b3 10,32H 12,79*1 27,982 9,150 10,162 10,386 5,732 17,293 Total reserves 5,819,303 ^38,233 2,137,567 329,26l 430,95$ 216,63^ 132,322 1,031,6g4 208,363 15U.5U6 215,28U 121,SH7 352,556 Redemption fund - F.R. bank notes 250 250 Bills discounted: Secured "by U.S.Gov't, obligatioi 11b direct and/or fully guaranteed 2,830 1.00S 2SS 729 211 110 22 73 275 Other bills discounted 3,278 39 2,1+US 321 136 55 SI 27 6 66 67 31 Total bills discounted 6,108 153 3,^56 609 865 266 191 23 28 5 139 67 306 Bills bought in open market 5,506 kok 2,10^ S56 52;3 20*4- 19s 651 105 8U 1I49 143 385 Industrial advances 19,^70 2,167 1,576 3 Ms 1,364 3,36S 1,079 1,350 5U7 l.sUo 639 1,1+05 6s6 U. S. Government securities: Bonds 39^»3SS 23,21k 139,222 25,137 30,559 16,290 13,534 5S,S55 15,9^9 15,610 13,331 18,821 23,860 Treasury notes 1,14-92,673 97,608 kG3,S 1 S 03 2 , 539 132,^ 70,611 53,5Sb 263,925 66,965 36,607 56,992 38,222 103,1422 Certificates and bills 36,857 162,408 3S,W4 50,012 26,662 22,119 93,003 25,2Sb 13,632 21,521 14,432 39,049 Total U.S.Gov1t« securities 2,U30,US6 157,679 765,318 167,120 213,025 113,563 9^,239 U15,843 10S,200 65,8*49 91,84*4 7l,*475 166,331 Total bills and securities 2,461,570 l60,403 772^^ 171,73** 215,777 117,401 95,707 417,S67 108,880 67,778 92,771 73,090 167,708 Due from foreign banks S02 60 315 g2 76 30 29 97 g 6 22 21 56 F. R. notes of other banks 16,113 339 3,951 U89 801 1,357 1,12*4 2,60S 1,424 782 678 31U 2,246 Uncollected items 457,509 45,675 109,657 37,667 '43,922 39,574 16,910 64,545 21,349 12,083 28,666 16,116 21,345 Bank premises 49,453 3,1^3 11,599 6,629 3,028 2,325 4,955 2 &B 1,580 3,447 1,684 3,869 All other assets 47,Ogg 6g0 33,443 4,628 1,531 1,324 1,753 993 230 738 287 936 5^5 TOTAL ASSETS 8,852,088 648,g5g 3,06g,986 548,402 699,692 379,3^8 250,170 1,572,7^9 3^2*882 237.513 3^1,155 214,008 51+8,325 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A2TD LIABILITIES OF THE FEDERAL RESERVE BAMS Oil MARCH 6, 1935 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Uew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3»159.9S9 265,708 66l,79S 23M30 308,971 155,090 126,051 789,028 140,624 105,300 118,628 48,960 204,901 F.R.bank note circulation - net 1,227 1,227 Deposits: Member "bank: - reserve account 4,554,816 305,693 1,984,93^ 227,938 303,885 162,778 85,829 659,008 149,153 101,353 173,367 125,090 275,738 U.S.Treasurer - General account 88,485 1,694 37,^44 2,755 5,631 3,059 M 73 12,71s 3,811 3,370 9,143 1,668 2,119 Foreign bank 16,323 1,051 7,094 1,446 1,387 540 526 1,694 438 351 394 38O 1,022 Other deposits 220,399 3,727 144,059 13,236 3,910 3,683 3 ,^ 2,709 16,039 5,829 1,080 2,989 19,644 Total deposits 4,880,023 312,165 2,173,531 245,375 315,013 170,060 9^,722 676,129 169,441 110,903 183,984 130,127 298,573 Deferred availability items ^67,797 45,4i6 111,797 3MS9 ^3,871 40,733 15,95^ 65,691 22,466 12,275 29,056 25,002 21,447 Capital paid in 146,990 10,763 59,722 15,142 13,H7 5,053 4,382 12,7^3 4,072 3,13^ 4,048 4,020 10,79*+ Surplus (Section 7) 144,893 9,902 49,964 13,^70 1^,371 5,186 5,5^0 21,350 4,655 3,^20 3,613 3,777 99,,664455 Surplus (Section 13*<b) 13,447 1,791 1,492 2,098 1,007 1,697 754 1,330 ^77 1.003 523 626 664499 Reserve for contingencies 30,822 1,648 7,501 2,996 3,000 l,4i6 2,600 5,325 89-1 11,,221111 809 1,-363 2,062 All other liabilities 6,900 238 3,181 302 342 113 167 1,153 256 226677 494 133 254 TOTAL LIABILITIES 8,852,088 648,858 3,062,986 548,402 699,692 379,3^8 250,170 1,572,7^9 342,882 237,513 341,155 214,008 548,325 Ratio of total reserves to deposit and F.R.note liabilities combined 72.4 75.8 75.4 68.6 69.1 66.6 59^9 73.8 67.2 71.5 71.1 68.0 70.0 Contingent liability on bills purchased for foreign correspondents 286 29 30 40 38 15 15 47 12 10 11 11 28 Commitments to make industrial advances 14,854 2,234 6,125 303 1,266 712 731 453 1,418 30 273 1,309 MATURITY DISTRIBUTION OF BILLS MD 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 3ills discounted 6,108 4,687 205 276 680 247 13 Bills bought in open market 5,506 112 751 629 4,oi4 Industrial advances 19,^70 197 560 1,35^ 312 1,078 15,969 U. S. Government securities 2,430,486 125,685 40,550 177,761 91,5^6 510,783 I,4s4,i6l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT 01 MARCH 6, 1935 (In thousands of dollars) B-g01d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.louis Minn. Xans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.bank "by F.R.Agent 3.^35.639 235,1+79 765,070 251,0^2 323,905 163,SUg 11+3,51+7 820,736 11+5,926 109,609 126,017 5U,ii.k0 21+6,020 Held by Federal Reserve bank 275,650 19,771 103,272 16,112 1^,93^ 8,758 17,^96 31,70s 5,302 U,3C-9 7.339 5 : i+so Uij.19 In actual circulation 3,159,989 265,70s 661,792 23^,930 308,971 155,090 126,051 739,028 iHO,62H 105,300 113,62s 1+8,960 20^,901 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,312,983 301,617 788,706 226,000 29^,215 3.1+7,31+0 30,635 826,51+6 133,936 111,000 127,000 55,675 220,263 Eligible paper U,105 138 1,735 ^98 3U6 23U 175 — 22 — 107 53 292 U. S. Govt, securities 179,000 25,000 30,000 13,000 65,000 ~ 13,000 23,000 Total collateral 3,i+96,033 301,755 790,^1 251,1+93 325,061 165,571+ 11+5,360 826,51+6 11+6,953 111,000 127,107 55,733 21+3,555 FEDERAL RESERVE BABX FOTE STATEMENT OH MARCH 6, 1935 (Ir. thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: 1,511 Issued to F.R.bank(outstanding) 9,151 7,61+0 Held by Federal Reserve bank 7,92U 2Si+ 7,61+0 In circulation - net* 1,227 1,227 Collateral pledged against 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 $9!+,257,000 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