H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PEESS Released for publication B-801 Friday morning, May 17; Federal Reserve Board not earlier* May 16, 1935* CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during l the week ended May 15, as reported by the Federal Reserve banks, was $2,+85»0G0,Q00, an increase of $1^,000,000 compared with the preceding week and of $3,000,000 compared with the corresponding week in 193^• On May 15 total Reserve bank credit amounted to $2,^73,000,000, an increase of $7,000,000 for the week. This increase corresponds with an increase of ,000 in member bank reserve balances and a decrease of $2,000,000 in Treasury and national bank currency, offset in part by an increase of $9,000,000 in monetary gold stock and by decreases of $2,000,000 in money in circulation, $37,000,000 in Treasury cash and deposits with Federal Reserve banks and $12,000,000 in nonmember deposits and other Federal Reserve accounts. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $11,000,000 in holdings of United States bonds was offset by decreases of $10,000,000 in holdings of Treasury bills and $1,000,000 in United States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 15, 1935, were as follows: Increase or decrease since May 15 May 8 May l6 1935 J331 193^ (In millions of dollars) Bills discounted 7 +1 -27 Bills bought 5 — U. S. Government securities 2,^30 Industrial advances (not including 19 million commitments - May 15) 27 +1 4-27 Other Reserve bank credit 5 +6 +2 TOTAL RESERVE BAHK CREDIT 2, k73 +7 Monetary gold stock 8,737 t9 +984 Treasury and national bank currency 2,534 -2 +I5U Money in circulation -2 +150 Member bank reserve balances 4,822 +64 4-1,128 Treasury cash and deposits with F.R.banks 2,901 -37 -181 ITonraember deposits and other FR.accounts 526 -12 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleased for publication Friday morning, May 17,1935? earlier. 3-S01a ASSETS A1TD LIABILITIES OF THE TTOVS FEDEEAL RESERVE BAKKS COMBINED (in thousands of dollars) May 15 >1935, May 8,1935 May l6 l^k t A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . . . . . .. 5,791,239 5,765,819 4,583,312 Redemption fund - F. R. notes . . . . .. 20,063 20,061 30,165 Other cash . . . . . . . 237,661 236.520 235,981 Total reserves . . 6,047,883 6,023,5^1 4,850,497 Redemption fund ~ F. H. "bank notes • . . . 5,275 Bills discounted: Secured "by U.S.Gov't. obligations,direct and/or fully guaranteed *. 3.531 2,639 6,298 Other bills discounted . . . . . . .. . 3,124 ,3.321 28,104 Total bills discounted . , , . 6,655 5,960 34,402 4 Bills bought in open market . . . . . .. 4,7 05 4,698 5,501 Industrial advances . .. . . . . . . .. 26,5^6 26,410 — U. S. Government securities; Bonds 333,542 322,337 406,190 Treasury notes 1,5^1,653 1,5^3,136 1,233,599 Certificates and bills • 555.160 . 564,77.2 790,367 Total U.S. Government securities 2,430,355 2,430,245 2,430,156 Other securities . . • 546 Total bills and securities . 2,1+68,261 2,467,313 2,470,605 Due from foreign banks . . . 69H 699 3,135 F. R. notes of other banks * 16,506 17.1^7 20,430 Uncollected items . . . . . 582,111 446,015 501,044 Bank premises 1+9,690 49,634 52,595 All other assets 44,077 42,479 185.430 TOTAL ASSETS . . . . 9,209,222 9,046,828 8,089,011 L I A B I L I T I ES F. R. notes in actual circulation 3,15^,37^ 3,160,066 3,061,279 F. R. bank note circulation - net — 63,752 Deposits: Member bank - reserve account . 4,822,322 4,757,608 3,694,493 U.S.Treasurer - General account 34,693 50,969 45,074 Foreign bank . 18,733 15,470 4,649 Other deposits . . . . .. 248,418 261,866 246.981 Total deposits . 5,124,166 5,085,913 3,991,197 Deferred availability items 577,946 448,016 501,685 Capital paid in # . . . .. 146,60O 146,669 146,202 Surplus (Section 7/ . . .. 144,893 144,893 138,383 Surplus (Section 1 3 b ) . .. 19,939 19,939 — Reserve for contingencies 30,810 30 808 22,532 All other liabilities . . . 10.434 10.^24 .163,931 TOTAL LIABILITIES 9,209,222 9,046,828 8,089,011 Ratio of total reserves to deposit and F R. note liabilities combined . . 73.156 73.0$ 6s M 0 Contingent liability on bills purchas for foreign correspondents . . .. 16 16 3,622 Commitments to make industrial advances 18,515 isoUo f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERA.L RESERVE BANKS ON MAY 15, 1935 A S S E TS (In thousands of dollars) B-SOlb 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 5,791,239 ^90,598 2,147,063 284,811 437,737 178,052 115,069 1,317,931 152,138 137,857 206,591 90,631 333,351 Redemption ftmd - F. R. notes 20,063 2,015 1,806 1,554 1,589 1,363 3,358 2,407 1,279 629 SOJ 366 2,890 Other cash 235,981 24,649 65,520 33,467 10,212 11,613 12,322 24,685 12,080 12,154 11,202 5,651 12,426 Total reserves 6,047,883 417,262 2,214,339 319,832 449,538 191,028 130,749 1,345,023 165,497 150,650 218,600 96,6^8 348,667 Bills discounted: direct and/or fully guaranteed 3,531 434 1,887 306 88 112 160 50 4 50 22 263 155 Other bills discounted 3»124 131 2,206 144 22 62 166 8 10 — 75 249 51 Total "bills discounted 6,655 565 4,093 450 110 174 326 58 14 50 97 512 206 Bills bought in open market 4,705 346 i,si4 475 446 174 169 557 81 65 127 122 329 Industrial advances 26,546 2,203 6,182 3,444 1.317 4,035 1,110 2,186 558 2,011 1,007 1,808 685 U. S. Government securities: Bonds 333,542 20,125 113,216 21,915 26,364 14,054 11,690 42,339 13,329 14,847 13,386 17,609 24,668 Treasury notes 1,541,653 100,405 468,466 106,45s 136,250 72,635 60,263 251,818 69,385 40,943 68,218 39,319 127,493 Certificates and bills 555,160 37,1^8 162,636 38,747 50,4ii 26,874 22,294 89,686 25,486 14,921 25,240 14,547 47,170 Total U.S.Govt, securities 2,430,355 157,678 744,318 167,120 213,025 113,563 94,247 383,843 108,200 •70,711 106,844 71.475 199,331 Total bills and securities 2,468,261 160,792 756,407 171,489 214,898 117,9^6 95,852 386,644 108,853 72,837 108,075 73,917 200,551 Due from foreign banks 694 53 271 72 67 26 25 85 5 4 19 18 49 F. It. notes of other banks 16,506 367 3,769 271 1,410 2,186 993 2,013 1,330 l,l4s 1,469 380 1,170 Uncollected items 582,111 59,5^8 157,026 42,298 55,357 46,128 17,233 86,064 24,292 13,090 32,730 20,309 28,036 Bank premis es 49,690 3,168 11,780 4,595 6,629 3,028 2,325 4,955 2,628 1,580 3,448 1,685 3,869 All other assets 44,077 529 30,656 4,446 2,146 1,241 1,735 771 256 626 263 896 512 TOTAL ASSETS 9,209,222 641,719 3,174,298 543,003 730,045 361,583 248,912 1,825,555 302,861 239,935 364,6o4 193,853 582,854 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDEEAL HESEBVE EAUKS Oil MY 15, 1935 L I A B I L I TI (In thousands of dollars) B-SOlc Total Boston Uew York Fhila, CI eve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cj. Dallas San Fran, F.3.notes in actual circulation 3.154,37^ 261,821 650,033 235,352 313,289 149,650 125,644 786,464 138,491 104,713 120,253 47,282 221,332 Deposits: Member bank - reserve account 4, 822,322 290,l44 2,044,960 226,425 320,990 147,003 35» o4s S9S.751 112,688 100,639 196,829 110,146 288,699 U.S.Treasurer- G-eneral account 3^,^93 316 2,257 1,125 2,623 3,048 2,751 5,211 2,889 3,372 5,049 1,408 4,i44 Foreign bank 13,733 1,344 6,932 1,848 1,773 691 672 2,165 56O 448 503 485 1,306 Other deposits 248,418 3>^15 1^7,723 _ i L tm 3,901 4.492 2,795 ll.*02 -. 7,524- 1,955, Total deposits 5,124,166 295,219 2,21+1,878 233,707 329,287 153,281 92,963 908,922 127,639 112,483 203,657 113,994 311,136 Deferrad availability items 577.946 59,224 154,082 39,S51 55,1+1+3 1+4,276 16,726 26,195 13,70s 31,241 22,235 26,791 Croital paid in i46,66o 10,761 59,376 15,124 13,126 5,035 4,448 12,779 3 <999 3,127 4,030 4,031 10,824 Surplus "(Section 7) 144,893 9,902 49,961+ 13,1+70 14,371 5,186 5,540 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13 b) 19,939 2,165 6,065+ 2,098 1,007 2,501 754 1,391 547 1,003 775 939 695 He servo for contingencies 30,810 1,648 7,500 2.99S 3,000 l,4i6 2,600 5,325 891 1,211 81° 1,363 2,041 All ether liabilities 10,434 379 5,351 •05 522 23s 237 — 1,750 210 216 232 m. TOTAL LIABILITIES 9,209,222 641,719 3,174,29s 543,003 730,045 361,583 248,912 1,825,555 302,861 239,935 364,604 193,253 522,854 S- tio of total reserves to deposit and I\R.note liabilities combined 73.1 74.9 76.6 68.2 70.0 63.1 59.S 79.3 62.2 69.4 67.5 59.9 65.5 Contingent liability on bills purchased 1or foreign correspondents 16 1 3 2 2 11 2 1 * 1 11 C< rait:nents to make industrial advances 18,515 2,709 7,329 4gg 1,467 1,354 724 501 1,650 75 339 160 1,718 MATURITY DISTRIBUTION OF 3ILIS AMD SECURITIES 91 days to To tal Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 mouths Over 6 months 5, 008 Bills discounted 6,655 168 932 319 207 15 Bills bought in open market 4,705 282 420 1,009 2,994 Industrial advances 26,546 1,243 304 356 252 2,735 21,656 U. S. Government securities 2,430,355 40,257 41,103 221,53^ 189,680 153,741 1,784,o4O •Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 15, 1935 (In thousands of dollars) B-801d Total Eoston New York Phi la. Clave. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3,420,316 277,699 7U3,5SS 21+9,207 328,51+5 160,575 1^3,5^6 818,30*+ ll+l+,0l+7 109,06l 128,524 53,207 264,013 Held by Federal Reserve bank 265,942 15,878 33,505 13,855 15.556 10,925 17,9^2 31,8U0 5,556 4,348 8,271 5,925 1*2,681 In actual circulation 3.15^.37^ 261,821 650,083 235,352 313.289 149,650 125,61+1+ 786,1+64 138,1+91 104,713 120,253 47,282 221,332 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S, Treasury 3.288,1+79 301,617 738,706 227,000 314,715 131,31+0 82,685 827,31+6 107,632 107,500 130,000 51,675 218,263 Eligible paper 5,091 565 2,598 I+35 110 152 321+ 58 13 50 79 511 196 U. S. Govt, securities 226,500 -- — 22,000 15,000 30,000 65,000 38,000 3,000 — 2,500 51,000 Total collateral 3,520,070 302,182 791,304 249,435 329.S25 161,1+92 11+8,009 827,4o4 145,645 110,550 130,079 5i+,6s6 269,1+59 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis