H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PR3SS Released for publication B-801 Friday morning, Mar. 29; Federal Reserve Board not earlier. March 28, 1935. CONDITION OF FEDERAL RESERVE BASKS The daily average volume of Federal Reserve bank credit outstanding during the week ended March 27» as reported by the Federal Reserve banks, was $2,458,000,000, a decrease of $3,000,000 compared with the preceding week and of $65,000,000 compared with the corresponding week in 193^» On March 27 total Reserve bank credit amounted to $2,1452 .000-000. a decrease of $3,000,000 for the week. This decrease corresponds with decreases of $76,000,000 in member bank reserve balances, $17,000,000 in money in circulation and $3,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $9,000,000 in monetary gold stock and $1^,000,000 in Treasury and national bank currency, offset in part by an increase of $115,000,000 in Treasury cash and deposits with Federal Reserve banks. 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 March 27, 1935» as follows: Increase or decrease since Mar. 27 Mar. 20 Mar. 28 1935 1935 (In millions of dollars) Bills discounted g -45 Bills bought 5 -24 U. S, Government securities 2,4-30 -2 Industrial advances (not including 16 million commitments - March 27) 21 +1 +21 Other Reserve bank credit -12 -3 -17 TOTAL RESERVE BAM CRSDI* -3 -67 Monetary gold stock 8,563 +9 +882 Treasury and national bank currency 2,535 +l4 +179 Money in circulation 5»^36 -17 +100 Member bank reserve balances 4,285 -76 +846 Treasury cash and deposits with F.R.banks 3,335 +115 +17 Nonmember deposits and other F.R.accounts %)4 -3 +30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 29,19355 not earlier. B-SOla ASSETS AED LIABILITIES OF THE TTOLVE FEDERAL RESERVE BABES COMBINED (In thousands of dollars) Mar. 27,1935 Mar. 20,1935 Mar. 28,193 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . . . . .. 5.567,025 5,567,221 44,,228811,,119977 Redemption fund - F. R. notes . . . . .. lU,70g 15,377 32,911 Other cash . . . . . . 25^500 252,657 220,886 Total reserves * . . . . . . . .. 5,235,233 5,835,755 4,534,994 Redemption fund - R. bank notes . . . 5 9,032 Bills discounted: Secured by U.S^Gov't, obligations direct f and{or fully guaranteed 4,415 44,,448877 13,^92 Other bills discounted •5,261 3,170 38,987 Total bills discounted . . . . .. 7,67s 7,657 52,579 Bills bought in open market . . . . . .. 5,306 5,299 29,359 Industrial advances * . . . . • 20,735 20,409 — U. S. Government securities: Bonds . . • . . . 391,942 391,980 442,928 Treasury notes . . . . . . . . . . .. 1,494,703 1,494,667 1,214,246 Certificates and bills . 543.660 543,660 774,712 Total U.S.Government securities . . 2,430,305 2,430,307 2,431,886 Other securities . — 563 Total bills and securities . . .. 2,464,074 2,463,672 2,514,387 Due from foreign "banks . . . . . . . .. 702 708 3.131 F. R # notes of other banks . . . . . .. 15,973 l6,6s4 15,376 Uncollected items * • • • . . . • • • .. 446,072 509,742 395,844 Bank premises . . 49,524 49,524 52,432 All other assets 42,173 41,359 119,560 TOTAL ASSETS 8,853,751 8,917,449 7,645,262 L I A B I L I T I ES F. R. notes in actual circulation . . . . 3,130,572 3,139,753 2,997,036 F. R. bank note circulation - net . . .. ... 100 122,743 Deposits: Member bank - reserve account . . . . 4,285,129 4,361,278 33,,443388,,994488 # U.S.Treasurer - General account . . .. 393,13S 309,517 56,443 Foreign bank . 20,053 16,430 6,138 Other deposits . 220,7^6 226,393 155,223. Total deposits U 919,066 4,913.618 3,656,752 t Deferred availability items . . . . . .. U5-3.936 519,167 394,468 146,921 146,924 145,536 Surplus (Section j) • 144,393 144,893 138,384 Surplus (Section 13 b) 14,366 14,366 — Reserve for contingencies . . . . . . .. 30,802 30,315 22,530 All other liabilities . . 8.145 7,813 167,763 TOTAL LIABILITIES S,353,751 8,917,449 7,645,262 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 72.5* 72.5fo 68.2$ Contingent liability on bills purchased for foreign correspondents ... ... 98 206 4,935 Commitments to make industrial advances . 15,732 15,551 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AfflD LIABILITIES OF THE FEDEKAL EESERVE BA1TSS OTT MARCH 27, 1935 A S S E TS (in thousands of dollars) B-SOlb Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San.Fran t Gold certificates on hand and due from U. S. Treasury 5,567,025 1+14,209 2,172,726 292,535 44l+,S59 203,59s 114,735 1,023,661 179,217 133,13s 183,623 93,893 305,731 Redemption fund - F. 3. notes l4, 70s 27s S06 1,934 i,4n i f U9U 3,305 376 3S3 445 905 192 3,17S Other cash 253,^00 26,243 76,580 33,099 10,071 10,376 13,466 27,012 10,831 11,408 11,73^ 6,019 16,661 Total reserves 5,235,233 ^+0,731 2,250,112 327,61s 456,341 215,468 131,506 1,051,049 190,431 144,991 196,262 105,104 325,620 Bills discounted: Secured by TJ.S.GovH. obligations• 1 direct and/or fully guaranteed 4,415 1,170 2,026 376 H33 1*3 90 12 15 50 100 Other bills discounted 3,263 98 2,383 176 133 60 97 23 13 5 66 173 31 Total bills discounted 7,67s 1,26s 4,4i4 552 566 203 187 23 25 5 81 223 131 Bills bought in open market 5,306 390 2,031 536 504 196 191 62s 99 79 1U3 13S 371 Industrial advances 20,785 2,146 1,847 3,65^ 1,355 3.^96 1.OS5 1,402 490 1,963 960 1,699 6SS IT. S Government securities: # Bonds 391,9^2 23,^53 136,1133 25,383 30,879 l6,46i 13,690 50,013 16,111 16,206 15,644 19,637 28,027 Treasury notes 1,%U,703 97,607 ^7,515 103,539 132»1+51+ 70,610 58,576 249,825 66,965 39,752 66,31s ^1,333 120,209 Certificates and bills 5^3,660 ^6.619 155,370 3S, 193 ^692 26,491 21,977 90,005 25,124 14,707 24,322 15,505 ^5,095 Total U«S.Gov!t, securities 2/430,305 157,679 739.31S 167,120 213,025 113,562 94,243 3S9,S^3 102,200 70,665 io6,s4)+ 76,475 193,331 Total bills and securities 2,464,074 161,433 747,61c 171,862 215,450 117,^57 95,706 391,896 108,314 72,712 108,028 7C.535 19^,521 Due from foreign banks 702 53 278 73 67 26 25 85 5 4 19 18 49 F* B. notes of other banks 15,973 377 3,465 443 1,155 1,030 1,520 1,850 1,032 717 1,3*3 375 2,666 Uncollected items 1+46,072 45,334 109,813 ^9,028 ^3,571 40,126 14,700 60,093 19,7H 10,425 25,931 15,904 21,436 Bank premises *9,524 3,168 11,658 ^,553 6,629 3,028 2,325 *,955 2,628 1,580 3,**7 1,684 3,869 All other assets 5+2,173 oS4 29,06s 4,4s4 1,595 1,31*+ 1,7*2 762 224 669 278 845 508 TOTAL ASSETS 3,853,751 651,330 3,152,004 5Us,o6l 724,808 373,4^9 247,524 1,510,690 322,8^5 231,098 335,30s 202,^65 543,669 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OF MARCH 27, 1935 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,130,572 264,805 654,33s 233,56k 310.770 150,265 124,222 7SU.SS5 133,367 102,'47U US,46S 47,129 201,285 Deposits: Member bank - reserve account 4,225,129 279,603 1,391,700 215.277 303.7^ 148,244 S2.377 583,o4i 129,653 99.309 176.237 116,560 259,384 U.S.Treasurer - General account 393,133 31,^17 205,422 17.592 29,71^ 23,13s 6,796 33.092 7,^61 1,761 4,318 6,837 25.590 Foreign tank 20,053 1,206 9,469 1.65s 1.591 620 603 1,9^3 502 402 452 ^35 1.172 Other deposits 220,746 3,391 153,116 7,896 3,955 2,723 5,351 2,552 15,152 7,733 536 2,723 15.11S Total deposits 4,919,066 316,117 2,259.707 242,423 339,004 174,725 95.127 620,62s 152,768 109,205 181,543 126,555 301,264 Deferred availability items 458,936 46,081 115,7^9 38,036 43,111 39.5S1 14,656 62,893 21,200 10,262 26,000 18,814 22,603 Capital paid in 146,921 10,772 59,575 15,148 13,123 5,035 4,4o6 12,79^ 4,072 3,131 M 52 4,018 10.795 Surplus (Section 7) 144,893 9,902 49,964 13.470 1^,371 5,186 5,5^0 21,350 4,555 3,420 3,613 3,777 9.645 Surplus (Section 13b) 14,366 2,165 1,492 2,098 1,007 2,084 75^ 1,351 547 1,003 590 626 649 Reserve for contingencies 30,802 1,648 7,501 2.996 3,000 l,4i6 2,600 5.325 891 1,211 810 1,363 2,041 All other liabilities 8,145 340 3,678 326 422 157 219 1,464 3*+5 392 232 133 3S7 TOTAL LIABILITIES 2,853,751 651,830 3,152,004 548,061 724,808 378,449 247,524 1,510,690 322,845 231,09s 335.308 202,465 543,669 Ratio of total reserves to deposit and F.R.note liabilities combined 72»5 75.9 77.2 68.3 70.2 66.3 60.0 74.S 65.4 63.5 65.4 60.5 64j Contingent liability on bills purchased for foreign correspondents 98 9 23 12 11 4 4 l4 4 3 3 3 S Commitments to make industrial advances 15,732 2,613 6,208 347 1,315 79S 728 453 1,520 33 309 ~ l.Uog MATURITY DISTRIBUTION OF BILLS AHD 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 7,678 5.533 244 170 1,639 77 15 Bills bought in open market 5.306 208 4,042 529 527 Industrial advances 20,785 508 652 1,118 501 1,069 16,937 U. S. Government securities 2,430,305 28,250 37,078 90,571 270,013 371,976 1,632,417 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL HESEHVE NOTE STATEMENT OK MARCH 27, 1935 (in thousands of dollars) B-S01d Total Boston ITew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran ederal Reserve notes: Issued to F.R.bank by F.R.Agent 3,408,581 284,334 749,511 248,994 325,055 160,384 142,918 818,038 144,313 108,108 126,204 54,05s 246,6l4 Held by Federal Reserve bank 272,009 19,579 95,173 15,^30 14,285 10,119 18,696 33,153 5,9^6 5,63^ 7,736 6,929 45,329 In actual circulation 3430,572 264,805 654,338 233,564 310,770 150,265 124,222 784,885 138,367 102,474 118,468 47,129 201,285 ollateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3,237,679 301,617 788,706 228,000 313,215 148,340 85,685 816,546 125,632 105,000 117,000 55,675 202,263 Eligible paper 5,842 1,254 2,775 533 5^7 172 169 11 — 51 214 116 U. S. Govt, securities 203,100 22,000 13,000 13,000 60,000 10,000 21,000 4,100 10,000 50,000 Total collateral 3,496,621 302,271 791,481 250,533 326,762 161,512 145,854 826,546 146,643 109,100 127,051 55,389 252,379 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis