H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, May 3 5 Federal Reserve Board not earlier. May 2, 1935. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended May 1, as reported by the Federal Reserve banks, was $2,^68,000,000, a decrease of $9,000,000 compared with the preceding week and of $22,000,000 compared with the corresponding week in 193^» On May 1 total Reserve bank credit amounted to $2,^63,000,000, an increase of $11,000,000 for the week. This increase corresponds with increases of $30,000,000 in money in circulation and $2,000,000 in member bank reserve balances and a decrease of $7,000,000 in Treasury and national bank currency, offset in part by an increase of $20,000,000 in monetary gold stock and a decrease of $7,000,000 in nonmember bank deposits and other Federal Reserve accounts. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances An increase of $SU,000,000 in holdings of % United States Treasury notes was offset by decreases of $36,000,000 in United States bonds and $28,000,000 in Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 1, 1935> were aS follows: Increase or decrease since May 1 Apr. 2U May 2 im^ .1335— (In millions of dollars) 6 Bills discounted -1 -32 Bills bought 5 — -3 -2 U. S. Government securities 2,^30 — Industrial advances (not including 17 million commitments - May l) 26 — ++2266 Other Reserve "bank credit -5 +11 -11 TOTAL RESERVE BASE CREDIT 2,^63 +11 -21 +965 Monetary gold stock 8.721 +20 Treasury and national bank currency 2.5^3 -7 +162 Money in circulation +30 +130 +2 Member bank reserve balances 4,721 +1,151 Treasury cash and deposits with F.R.banks 2,978 -199 +2U Nonmember deposits and other F.R,accounts 539 -7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 3, 1935? »ot earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) May 1, 1935 Apr. 2^,1935 May 2. 1934 A S S E TS Gold certificates on hand and due from the TJ. S. Treasury 5,750,8^ *5,730,265 4,586,500 Redemption fund - F. R. notes . . . . . 20,522 17,933 31fl44 Other cash 2*&l515 249,610 232.267 Total reserves . . . 6,015,SSI *5>997*858 4,849,911 Redemption fund - F. R. bank notes . . — — 6,022 Bills discounted: Secured "by U.S.Gov't, obligations,direct and/or fully guaranteed 3,074 3*539 7»3SS Other bills discounted 3,304 3.285 30.924 Total bills discounted . .. . 6,37S 6,824 38,312 Bills bought in open market 1+,696 4,696 8,279 Industrial advances .26,HUH 26,206 U S. Government securities: f Bonds . .. 3^7,172 3S2,906 407,858 Treasury notes 1,530,279 1,466,266 1,242,591 Certificates and bills 553.024 581,060 781,370 Total U> S. Government secxirities 2,430,475 2,430*232 2,431,819 Other securities — — 747 Total bills and securities • . . 2,467,993 2,467,958 2,479,157 Due from foreign banks 702 702 3*131 F. R. notes of other banks • . . . . . 18,982 17,800 16,846 Uncollected items . . 5H1,7H3 *488,763 456,805 Bank premises . < . . . . .. . . . • . 49,6l6 49,6l6 52,569 All other assets 40,274 39.921 183.967 TOTAL ASSETS . . 9,135,191 9,062,618 8,048,408 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,161,879 3,145,805 3,058,777 F. R. bank note circulation ~ net . .. — — JO,208 Deposits: Member bank - reserve account . . .. 4,721,320 4,719,309 3,570,283 U.S.Treasurer - General account . . . 76,209 56,874 142,776 Foreign bank 15,378 23,967 6,585 Other deposits 260,677 264>102 273.7b5 Total deposits 5,073,581+ 5,064,252 3t993f409 Deferred availability items . . . .. 547,076 505,349 454,807 Capital paid in 146,666 146,908 146,300 Surplus (Section 7) 144,893 144,893 132>3^3 Surplus (Section 13 b) . . 19,209 14,924 Reserve for contingencies . . . . . .. 30,806 30,806 22,531 All other liabilities 11,078 9.681 163.993 TOTAL LIABILITIES . . . .. 9,135,191 9,062,6l8 8,048,408 Ratio of total reserves to deposit and F R. note liabilities combined . . . 73.0$ 73.1$ 68.8$ 9 Contingent liability on bills purchased for foreign correspondents 20 27 4,26l Commitments to make industrial advances 17»051 16,908 •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH MAY 1, 1935 A S S E TS (I11 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 5,750,844 418,593 2,146,519 299,727 1+27,872 188,8l6 110,784 1,280,799 168,794 121,032 185,488 88,952 313,1+68 Redemption fund - F-. R. notes 20,522 2,094 l,l44 1,665 1.675 1,821 3,*+S3 2,549 1,318 659 827 376 2,911 Other cash 244,515 26,217 66,540 3M35 10,996 12,002 12,447 26,496 11,580 12,153 11.109 5.^1 15,399 Total reserves 6,015,881 446,904 2,214,203 335,427 440,543 202,639 126,714 1,309,844 181,692 133,844 197,424 94,869 331,778 Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed 3,074 149 1,053 458 368 306 169 70 4 55 29 270 iill++33 Other bills discounted 3,304 .114 2,291 191 21 61 184 24 3 2 62 284 67 Total bills discounted 6,378 263 3,3^ 649 3S9 367 353 9l+ 7 57 91 55U 210 Bills bought in open market 4,696 346 1,805 476 446 174 169 557 80 65 127 122 329 Industrial advances 26,444 22,,1155^^ 66,,1133**++ 33,,556655 11,,332211 4,010 1,11+9 2,190 534 1,960 963 1,787 677 U. S. Government securities: Bonds 3^7,172 19,284 109,884 21,039 25,224 13,447 11,182 Hi,331 13,252 14,511 13,014 17,280 1+7,724 Treasury notes 1,530,279 99,643 465,444 105,663 135,216 72,083 59,799 254,067 68,362 40,565 67,701 39,020 122,716 Certificates and bills 553,024 38,751 168,990 4o,4is 52,585 28,033 23,256 94,445 26,586 15,565 26,329 15,175 22,891 Total U.S.Govt, securities 2,430,475 157,678 744,318 167,120 213,025 113,563 9^,237 389,843 108,200 70,64i 107,044 71,475 193,331 Total bills and securities 2,467,993 160,44i 755,601 171,810 215,181 118,114 95,908 392,684 108,821 72,723 108,225 73,93s 194,547 B&e from foreign banks 702 53 279 72 67 26 25 85 5 4 19 18 1+9 F. R. notes of other banks 18,982 349 6,411 430 983 1,897 8S7 2,876 873 889 95s 316 2,113 Uncollected items 5^1,7^3 56,332 137,182 4o,O45 47,422 54,984 19,968 77,654 20,168 13,598 32,364 16,204 25,822 Bank premises 49,616 3,168 11,724 4,57s 6,629 3,028 2,325 1+.955 2,628 1,580 3,447 1,685 3,869 All other assets 40,274 618 26,312 4,435 2,667 1,244 1,715 720 244 637 262 905 515 TOTAL ASSETS 9,135,191 667,865 3,151,712 556,797 713,^92 381,932 247,542 1,788,818 314,431 223,275 3^2,699 187,935 558,693 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAMS ON MAY 1, 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, 126,665 F.R.notes in actual circulation 3,l6l,879 262,526 651,210 236,18*+ 312,980 150,112 788,372 139,803 10H,S7l+ 1*9,963 *+7,032 222,158 Deposits: 126,076 265,770 Member hank - reserve account U,721,320 31^,736 2,00^,387 238,502 307,678 153,16*+ 80,333 861,021 87,367 17^,795 107 2,692 7,637 U.S.Treasurer - General account 76,209 2^,080 1,223 7,936 5,014 13,060 U,0l6 I+7I+ 5,8^2 1,793 2,1+1+2 1,1+63 Foreign bank 15,373 1,108 5,61+9 1,52U 570 55^ 1,786 1+62 369 *U5 ^00 1,078 Other deposits 260,677 5,193 194,676 6,01+1 3,939 2,995 2,608 3,239 11,955 3,252 773 2,738 18,218 Total deposits 5,073,58*+ 323,729 2,228,792 21+7,290 321,016 16l+,366 88,509 879,106 11+2,509 96,1+62 181,825 112,1+72 287,508 Deferred availability items 5^7.076 56,752 11+2,925 39,277 ^7.555 53,521+ 18,802 73,5^3 21,1+59 12,933 31,^77 18,1+1+0 25,331+ Capital paid in 11+6,666 10,763 59,372 15,133 13,126 5,035 1+,1+1+7 12,779 3,999 3,127 M 32 M 31 10,822 Surplus (Section 7) ll+l+,893 9,902 1+9,961+ 13,^70 1^,371 5,186 5,51+0 21,350 i+,655 3,1+20 3,613 3,777 9,61+5 Surplus (Section 13b) 19,209 2,165 6,061+ 2,098 1,007 2,081+ 75*+ 1,391 51+7 1,003 775 626 695 Reserve for contingencies 30,806 1,61+8 7,500 2,996 3,000 1,1+16 2,600 5,325 890 1,211 816 1.363 2,0l+l All other liabilities 11.078 380 5,885 3^9 ^37 209 225 1,952 569 2l+0 19s 191+ 1+1+0 TOTAL LIABILITIES 9,135,191 667,865 3,151,712 556,797 713,^92 331,932 21+7,5^2 1,788,818 31M3I 223,275 3^2,699 187.935 553,693 Ratio of total reserves to deposit and F.R.note liabilities combined 73.0 76.2 76.9 69.1+ 69.5 6l+.1+ 53.9 78.6 6I+.1+ 66.5 65.1+ 59.5 65.I Contingent liability on bills purchased for foreign correspondents 20 1 7 2 2 1 l 2 l * l 1 1 Commitments to make industrial advances 17,051 2,651+ 6,322 1+80 1,1+68 1,319 725 501 1,397 36 3388ll++ 116600 1,605 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days jjjjjj0 Over 6 months Bills discounted 6,378 *+,191 6*+l 1,0^2 3^ 131 29 Bills bought in open market U,696 338 291 1+89 3,578 Industrial advances 26,W+ 1,1+21+ 81 515 300 2,655 21,U69 U. S, Government securities 2,1+30,1+75 ^8,965 1+0,256 193,0^8 120,1+95 301,111+ 1,726,597 •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAT 1, 1935 (in thousands of dollars) B-gQld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.banlr by F.R.Agent 279,286 7*0* .881 2^9,UlO 327,029 160,097 1^,382 819,125 l*+5.230 108,691 128,^59 53,093 26U 201 r Held by Federal Reserve bank 262,605 16,760 93,671 13,226 1^,0^9 9,985 17,717 30,753 6,027 3,817 8,^96 6,06l >+2,0*13 In actual circulation 3,l6l,S79 262,526 651,210 236,ISH 312,980 150,112 126,665 788,372 139,803 IOM7H 119,963 ^7.032 222,158 Collateral held by agent as security for notes issued to baijk: Gold certificates on hand and 788,706 87,685 50,175 213,263 due from U. S. Treasury 3,28^,979 301,617 230,000 308,715 lUl,3*K) 827,3^6 118,632 97,500 120,000 Eligible paper H.682 256 1,779 6U0 379 3^ 3^6 82 U 55 66 552 183 U. S. Govt, securities 232,100 — — 22,000 20,000 20,000 60,000 — 29,000 12,100 10,000 U,0Q0 55,000 Total collateral 3,521,761 301,873 790,^85 252,6H0 329,09U l6l,680 1*18,031 627,^28 1^7,636 109,655 130,066 5^,727 268,1+H6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis