H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT IOR THE PRESS Released for publication B-801 Friday morning, Mar* 22; Federal Reserve Board not earlier, March 21, 1935• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve hank credit outstanding during the week ended March 20, as reported "by the Federal Heserve hanks, was ,000,000, a decrease of $2,000,000 compared with the preceding week and of $60,000,000 compared with the corresponding week in 193^• On March 20 total Reserve hank credit amounted to $2,^55,000,000, a decrease of for the week. This decrease corresponds with increases of $211,000,000 in Treasury cash and deposits with Federal Reserve hanks and $12,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $i+, 000,000 in Treasury and national bank currency offset in part by a decrease of $227|000,000 in member bank reserve balances and an increase of $3,000,000 in monetary gold stock. Relatively small changes were reported in holdings of discounted and purchased bills and of industrial advances, A decrease of $2.000,000 in holdings t of Treasury bills was offset by an increase of $2,000,000 in United States bonds« Changes in the amount of Reserve bank credit outstanding and in related items w e re during the week and the year ended March 20, 1935, follows: Increase or decrease sinco Mar. 20 Mar, 13 Mar. 21 1935 1935 193U (In millions of dollars) Bills discounted 8 +2 -1+3 Bills bought 5 -1 -28 11. S. Government securities 22>>UU3300 -2 Industrial advances (not including l6 million commitments - March 20) 20 +20 Other Reserve "bank credit -9 -7 — TOTAL flESJSRVJ!B ANK CREDIT 2,1+55 -5 -53 Monetary gold stock 8,55*+ +3 +914 Treasury and national bank currency 2,521 +178 Money in circulation 5,1+53 -1 +119 Member bank reserve balances >+,361 -227 +912 Treasury cash and deposits with F.R.banks 3,220 +211 -32 ITonmember deposits and other F.R, accounts U97 +12 +Hi Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

n ot Released for publication Friday morning, March 22,1935; earlier, B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Iviar. 20,1935 Mar. 13.1935 Mar, ,eia93H A S S E TS Gold certificates on hand and due from U. S, Treasury 5,567,221 *5,55^,3^ K270,695 Redemption fund - F, S, notes 15*377 15.S7S 33*568 Other cash # < . 4 *. 252,617 220.181 Total reserves * . . 5,835,755 5.82M35 1+, 52*+, 1+1*1+ Redemption fund - F. R* "bank notes » . . 5 5 10,868 Bills discounted! Secured by U.S^Gov't* obligations, direct and/or fully guaranteed . . . . . .. 3,217 11,605 MS7 Othei* bilis discounted . * ,3,208 39,801 Total bills discounted 7,657 6,^25 51,^12 Bills bought in open market . . . . . .. 5,299 5,505 33,250 Industrial advances • 20,1+09 19,869 — U, Si Government securities? Bonds . . .. 391*980 339900,,118866 1+1+2,865 1,1m, 667 11,,^^**667755 l,22l+,0l+3 Certificates and bills . . . . . .. 543.660 51+5,500 76U.987 Total TT.S. Government securities 2,^30,307 2,^30,361 2,1+31,895 Other securities . .. * «... 563 Total bills and socufitieg . . , 2,1+63,672 2,1+62,160 2,517,120 Due from foreign banks « 4 « . . . . * 708 802 3*132 F. R* notes of other banks l6,6sU 13,851 ll+,831 Uncollected items . . .. . 509*7^2 504,89*+ 41+9*1+1+8 Bank premises * 4 . . . .. . 1+9,52*+ 5 2 ,m All other assets . . , » * ,, ,Hi,359 1*9.15*+ 118.63^ TOTAL ASSETS 8*917, 8,90l+, 515 7*690,908 L I A B I L I T I ES F» ft* nofctes in actual circulation , . 3,139•753 3,136*652 2,98^,9^3 f* R, bank note circulation - net . . 100 100 1^3*877 Deposits: ii&nber bank - reoeiHre dccoiint * . . lij 361,27s H,588*213 3,^9.269 tf iSiTreasuter - General account 4 * 309,517 87*968 2H,009 tdtelgti t>*mk i . < i . t i i . . 1^1+30 7*378 4 Other deposits i,1 < i 4 » 4 » * . 219 lis 1^6,980 Total deposits . . . * 4 . . « 1+,913* 766 Mi3i6is 3*627*636 Deferred availability items » 4 . . » 519,167 507.9^3 Capital paid in 1^7,020 Surplus (Section 7) lUU,s93 iHi+,893 1 13 ^ 8 5, ,3 7 8 31 3 Surplus (Section 13 b) . . . . . .. 1U,366 lU.278 Reserve for contingencies . . . . .. 30,815 30,822 22,530 All other liabilities . . . . . . .. 7 #31? 9.0^1 165,^50 TOTAL LIABILITIES . . 8,917,^9 8,90H,515 7,690,908 Ratio of total reserves to deposit and F, R* note liabilities combined , . 72.5^ 72.3$ 68. Contingent liability on bills purchased for foreign correspondents . . .. 206 22*+ M 35 Commitments to make industrial advances . 15,551 15.08U •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AUD LIABILITIES OF THE FEDERAL RESERVE BABES ON MARCH 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 Fan. r Gold certificates cn hand and due from U S. Treasury 5,567.221 4l6,4S0 2,089,860 297,5^3 442,418 210,498 119,190 1,053,492 184,225 142,552 187,636 100,534 322,773 Redemption fund - F. R. notes 15.877 327 1,063 1,97^ 1.515 1.866 3,401 508 4o4 46l 9^7 200 3,211 Other cash 252,657 28,080 73.578 33.818 11.906 10.016 13,126 27.292 10,151 10.6l6 10.968 17.ITS Total reserves 5,835,755 444,887 2,164,501 333,355 ^55,839 222,380 135.717 1,081,292 194,780 153,629 199,551 106,507 3^3,317 Redemption fund - F.R. "bank notes 5 5 Bills discounted: 1 Secured "by U.S.Gov1. obligations, direct and/or fully guaranteed 4,487 237 2,191 306 530 216 109 — 12 15 15 36 820 64 2,311 2^7 134 60 97 23 13 5 56 129 Total bills discounted 7,657 301 4,502 553 664 276 206 23 25 20 71 165 851 Bills bought in open market 5,299 390 2,026 535 503 196 191 628 99 79 1*3 13s 371 Industrial advances 20,409 2,l48 1,719 3,724 1,353 3,482 1,071 1,377 488 1,953 956 1,450 688 U. S. Government securities: Bonds 351,980 23,452 138.755 25,387 30,880 1166,,446622 13,721 52,335 16,112 15,486 15,643 19,636 24,111 Treasury notes 1,494,667 97,608 457,^62 103,539 132,454 70,610 58,576 259,773 66,965 36,607 66,31s ^1,333 103,422 Certificates and bills 543,660 36,619 159.101 38,194 49,691 26.490 21.977 93.735 25.123 24.833 15,506 38,798 Total U.S.Gov't, securities 2,430,307 157,679 755,318 167,120 213,025 113,562 94,274 405,843 108,200 65,636 106,844 76,475 166,331 Total bills and securities 2,463,672 160,518 763,565 171,932 215,5^ 117,516 95.742 407,871 108 ,812 67,688 108,014 78,228 168,241 Due from foreign banks 70S 53 284 73 67 26 25 85 , 5 4 19 18 49 F. R. notes of other banks 16,684 367 4,045 463 1,288 1,387 1.052 2,322 1,483 700 951 350 2,276 Uncollected items 509,7^2 51.572 123,103 38,350 46,455 46,65s 19,258 70,719 24,293 11,218 29,563 20,013 28,540 Bank premises 49,524 3,168 11,658 ^.553 6,629 3,028 2,325 ^,955 2,62s 1,580 3,^7 1,684 3,869 All other assets ^1,359 681 27,999 ^.526 1,717 1,308 1,759 802 225 682 286 839 TOTAL ASSETS 8,917,1+49 661,251 3,095,155 553,252 727.540 392,303 255.87s 1,568,046 332,226 235,501 3^1,831 207,639 5^6,827 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

&8SHS AHB LIABILITIES OF THE FEDSPAL BESEB7E BA£!KS OH MA3CH 20, 1935 L I A B I L I T I ES (In thousands of dollars) 3-201c Total Boston Hew Yorl: Phila. Cleve. Rich. Atlanta Chicago St.Louis "inn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,139,753 261*, 723 653,207 233,533 307,360 152,588 125,525 785,707 139,601 103,377 118,627 4S,260 202,21+5 F.2.bank note circulation - net 100 100 Deposits: Member "bank - reserve account 4,361,27s 290,907 1,389.857 223,893 304,436 161,231 82,513 627,381 130,702 100,563 174,895 119,390 255,205 U.S.Treasurer - General accomit 309,517 23,759 13S,572 11,408 32,770 15,567 9,755 3*4,266 2,716 2,9oS 6,104 2,696 22,826 Foreign baik 16,430 1,206 46 1,650 1,591 620 60^ 1,943 502 402 U52 U35 1,172 Other deposits 226,393 4,020 J 5 M 21 11 ,'417 3,997 1.7*1-0 J L 2 2L 16,533 7,233 2.089 2,501 14.810 Total deposits 4,913,618 319,922 ,3Si 3^2,79^ 179,15S 97,502 6-66,251 156,753 111,166 183,620 125,022 294,013 Deferred availability items 519,167 *l,794 125,77'^ 37,3*4 45,460 ^6,513 19,356 73.S89 25/404 12,02s 30,064 24,430 27,111 Capital paid in 146,924 io»7?e 5S.5SS 15,1^ 13,125 5,032 4,406 12,791 M 72 3,132 4,049 U,015 10,7?4 Surplus (Section f) 144,893 9,902 49,9$4 13,^70 14,371 5,186 5,540 21,350 3,420 3,613 3,777 9,545 Surplus (Section 13 "b) 14,366 2,165 i, -£ +92 2,09s 1,007 2,084 75^ 1,351 5% 1,003 590 626 649 .leserve for contingencies 30,815 i,S4s 7,501 2,996 3,000 l,4l6 2,600 5,325 891 1,211 810 1,363 2,054 All other liabilities 7,813 , 225 3,593 282 bgj 326 195 1,382 221 l64 458 i46 2i£ TOTAL LIABILITIES 8,917,^9 661,251 3,095,155 553,252 727,5^0 392,303 255,87s 1,568,045 332,226 235,501 34l»S3l 207,639 546,827 Hatio of total reserves to deposit and F.2.note liabilities combined 72.5 rtU 76.0 69,2 70.1 67.0 60.9 74.5 65.7 71.6 66.0 61.5 69.2 Contingent liability on "bills purchased for foreign correspondents 206 18 49 25 24 9 29 7 6 7 17 Commitments to make industrial 6,211 advances 15,551 2,5IS 31s 1,307 79 s 72S 453 1,487 30 265 1,338 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 clays 6l to 30 days 6 months Over 6 months Bills discounted 7,657 5,613 58 333 1,56s 69 16 Bills bought in open market S299 60S 538 4,oo4 149 Industrial advances 20,409 623 590 1,173 425 1,090 16,508 U. S. Government securities 2,430,307 40,550 34,009 89,S43 272,839 352,539 1,640,527 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE MOTE STATEMENT OH MARCH 20, 1935 (In thousands of dollars) 3-g01d Total Boston tfew York Phi la. Cleve* Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, federal Bo^at^e notes: Issued to r.H.l)ank "by F.B.Agent 3,^22,956 283,H67 763,^1+ 2^9,880 32U,01b l6l,S01 1^,695 8lH,620 1^5,250 108,Sol 12'4660 5^,390 2*48,882 Held "by Federal Reserve baric f In actual circulation 283,203 18,7^ 105>227 16,3^7 16,556 9,213 18,170 28,913 5,6^9 £»°33 6,130 ^6,637 Oollateral held "by agent as se- 3,139,753 26^,723 658,207 233,533 307,360 152,588 125,525 785,707 133,601 103,377 112,627 Us,260 202,2^5 curity for notes issued to bani Gold certificates on hand and due from !7.S Treasury 3,320,679 301,617 733,706 22S,ooo 306,215 i4g,34o 85,625 826,51+6 125,632 110,000 117,000 55,675 227,263 Eligible paper # 5 , G&r OlC 2, Sol 'j-03 6U5 2U5 IS 7 11 15 39 156 «3« C-OU U* S. Govt* securities 173,000 22,000 20,000 15,000 b0,000 21,000 10,000 25,000 Total collateral 3.499,363 301,903 791,567 250,403 326,560 163,505 145,372 S26,51+6 146,6U3 no,015 127,039 55,231 253,099 F2D3RAL E3S3R7E BAxlK XTOTE STAT3OTT Oil M4HCE 20, 1935 (In thousands of dollars) Federal Reserve bank notes: Total Boston ITew York Fhila. Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Issued to F..R.bank( outstanding) Held by Federal Reserve bank la circulation - net* Collateral pledged against outstanding notes: 100 100 Discounted and purchased bills 100 100 U. S. 3cvt. securities 100 100 Total collateral •Does not include $94,126,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with fee Treasurer of the United States. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis