H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Saturday morning, June 1; Federal Reserve Board not earlier. May 31, 1935 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended May 29, as reported by the Federal Reserve banks, was $2,475,000,000. a decrease of $1,000,000 compared with the preceding week and an increase of $1,000,000 compared with the corresponding week in 1934. On May 29 total Reserve bank credit amounted to $2,467,000,000, an increase of $8,000,000 for the week. This increase corresponds with increases of $64,000,000 in Treasury cash and deposits with Federal Reserve banks, $30,000,000 in money in circulation and $6,000,000 in member bank reserve balances and a decrease of $5,000,000 in Treasury and national bank currency, offset in part by an increase of $73,000,000 in monetary gold stock and a decrease of $24,000,000 in nonmemher deposits and other Federal Reserve accounts. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $21,000,000 in holdings of United Statos Treasury notes was offset by a decrease of $21,000,000 in Unitod States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 29, 1935* were as follows: Increase or decrease since May 2Q May 22 May 30 1935 (In millions of dollars) Bills discounted 8 +1 - 26 Bills bought 5 U, S. Government securities 2,430 Industrial advances (not including 19 million commitments - May 29) 27 + 27 Other Reserve bank credit - 3 - 4 TOTAL RESERVE BAM CREDIT 2,467 + S - 3 Monetary gold stock 8.S35 +73 +1,059 Treasury and national bank currency 2,526 - 5 + 155 Money in circulation 5,511 +30 + 173 Member bank reserve balances 4,827 + 6 +1,064 Treasury cash and deposits with F.R.hanks 2,970 +64 - 81 Nonmember deposits and other F.R.accounts 520 -24 + 55 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, June 1,1935'» aot earlier. B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMB IKED (in thousands of dollars) May 29.1935 May 22.1935 May 30,1934 A S S E TS Gold certificates on hand and due from U. S. Treasury 5,868,300 5,820,788 4,648,031 Redemption fund - P. R. notes 22,249 21,064 29,77*+ Other cash 219.947 232.782 223.880 Total reserves 6,110,496 6,074,634 4,901,685 Redemption fund - P. R. hank notes . . .. — 4,720 Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed 4,9l4 3.388 9.085 Other bills discounted 3.372 3.370 24.615 Total bills discounted , . . , . 8,286 6,758 33.700 Bills bought in open market 26*977 Industrial advances *977 26,895 U. S. Government securities: Bonds 314,512 335,621 1*06,194 Treasury notes „ 1,561,448 1,540,402 1,216,490 Certificates and bills 554.304 554.304 807.470 Total U.StGovernment securities . 2,430,264 2,430,327 2,430,154 Other securities T.Z— — 535. Total bills and securities . . . 2,470,227 2,468,680 2,469,567 Due from foreign banks . . . , 700 698 3,125 P. R. notes of other banks 15,743 16,820 15,382 Uncollected items 455,926 478,931 397.257 Bank premises . . . .. . . .. 49,701 49,701 52,602 All other assets . 47.086 44.942 187.876 TOTAL ASSETS 9,149,879 9.134.406 8,032,214 L I A B I L I T I ES P.R, notes in actual circulation 3,171,650 3.148,543 3.051,6o4 P.R. bank note circulation net . . . .. »•» 60,422 Deposits: Member bank - reserve account . . . .. 4,826,596 4,821,304 3,762,920 U.S.Treasurer - General account . . .. JMJ2 37.317 51,636 Foreign bank . 47,345 22,376 5,592 262.888 Other deposits . 21,5,021 227.59? Total deposits , 5,163,434 5,143,885 4,047,746 Deferred availability items . . . . . .. 460,029 488,889 399,832 Capital paid in . . . 146,654 146,649 146,271 Surplus (Section 7) 144,893 144,893 138,383 Surplus (Section 13b) 20,065 19.939 Reserve for contingencies ... 30,782 30,777 22,532 All other liabilities . . . . . . . . .. 12,372 10.831 165.424 TOTAL LIABILITIES 9.149,879 9,134,406 8,032,214 Ratio of total reserves to deposit and P, R. note liabilities combinod . . .. 73.3$ 73.3$ 69.0 Contingent liability on bills purchased for foreign correspondents — 2 2,730 Commitments to make industrial advances . 19,425 18,640 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES Of THE FEDERAL RESERVE BANKS OH MAY 29, 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 5,868,300 393,554 2,227,877 277,620 449,209 169,809 109,795 1,351,990 l47,6?8 137,^96 192,303 .87,011 323,998 Redemption fund - F. R. notes 22,2^9 3,96l 1,553 1,445 1,497 1,969 3,766 2,272 1,247 606 760 3*5 2,828 219,947 63,632 30,233 10,101 22,109 12,076 11,725 Other cash 20,906 7,959 11,872 12,1+62 11,12b 5,746 2,293,062 160,961 Total reserves 6,110,^6 418,421 309,298 458,665 181,879 125,433 1,376,371 150,564 204,189 93,102 338.551 Bills discounted: direct and/or fully guaranteed 4,914 1,471 1,792 461 1M0 187 53 200 64 50 29 262 205 Other hills discounted 3,372 219 2,325 145 22 81 198 10 59 262 51 Total hills discounted 8,286 1,690 4,117 606 162 268 251 200 50 88 524 256 Bills bought in open market 4,700 346 1,809 475 446 174 169 557 81 65 127 122 329 Industrial advances 26,977 «,18S 6,368 3,326 1,465 4,276 1,110 2,174 557 2,012 1,029 1,798 674 U. S. Government securities: Bonds 314,512 IS*995 105,737 20,737 24,831 13,236 10,987 1*0,029 12,553 14,390 1122,,661188 1177,,116666 23,233 Treasury notes 1,561,448 101,595 476,185 107,699 137,866 73,496 61,009 254,252 70,202 41,328 69,027 39,785 129,004 Certificates and bills 554,304 37,088 162,396 38,634 50,328 26,830 22,257 89,562 25,445 14,897 25,199 14,524 47,094 157,678 213,025 Total U.S.Govt, securities 2,430,204 7*&,3l8 167,120 113,562 94,253 383,843 108,200 70,615 106,844 71,475 199.331 Total hills and securities 2,470,227 161,902 756,612 171,527 215,098 118,280 95,783 386,77^ 108,912 72,7^2 108,088 73,919 200,590 Due from foreign banks 700 53 277 72 67 26 25 85 5 ^ 19 12 *+9 F. R. notes of other banks 15,743 382 3,530 287 1,082 1,883 1,269 2,455 697 750 1,447 297 1.664 35,067 13,319 62,662 26,502 16,915 21,470 Uncollected items 455,926 50,845 113,208 42,538 4l,179 19,416 12,805 6,629 Bank premises %,701 3,168 11,791 ^,595 3,028 2,325 ^,955 2,628 1,580 3,448 1,685 3,869 All Other assets 47,086 518 34,219 4,455 1,643 1,216 1,719 802 225 570 289 941 489 TOTAL ASSETS 9,149,879 635,289 3,212,699 525,301 725,722 347,491 239,873 1,854,104 292,344 239,015 343,982 186,877 566,682 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL ESSEPJVE "BASKS ON MA. Y 29, 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 3,171,650 265,926 669,462 236,905 314,117 147,224 123,603 787,l4l 138,199 103,367 120,470 48,474 216,762 Deposits: 4,826,596 284,230 2,081,291 210,735 326,164 137,418 80,636 927,843 108,791 103,626 181,204 105,006 279,652 Member bank - reserve account 74,472 4,548 25,613 3,719 4,445 5,331 5,545 3,939 4,855 2,677 7,168 2,034 4,59s U.S.Treasurer - General account 47.345 1,542 33,813 2,120 2,034 792 771 2,484 642 514 577 557 1,499 Foreign bank 215,021 2,760 158,495 3,432 3,880 2,286 2,255 4,682 9,419 6,670 1,354 2,319 17.469 Other deposits Total deposits 5,163,434 293,080 2,299,212 220,006 336,523 145,827 89,207 938,948 123,707 113,487 190,303 109,916 303,218 Deferred availability items 460,029 51,353 114,619 34,230 42,974 4o,o4o 13,421 64,932 20,348 13,192 23,699 18,116 23,105 Capital paid in 146,654 10,761 59,365 15,125 13,126 5,037 4,448 12,785 3,999 3,124 4,034 4,024 10,826 Surplus (Section j) i44„893 9,902 49,964 13,470 14,371 5,186 5,540 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13 b) 20,065 2,165 6,190 2,098 1,007 2,501 754 1,391 547 1,003 775 939 695 Reserve for contingencies 30,782 1,64s 7,500 2,996 3,000 1,4x6 2,601 5,325 891 1,176 825 1,363 2,041 All other liabilities 12,372 454 6,387 471 6o4 260 299 2,232 246 263 268 390 TOTAL LIABILITIES 9,149,879 635,289 3,212,699 525,301 725,722 347,491 239,873 1,834,io4 292,844 239,015 343,982 186,877 566,682 ilatio of total reserves to deposit and F.R.note liabilities combined •73.3 74.9 77.2 67.7 70.5 62.1 58.9 79.7 61.5 69.4 65.7 58.8 65.1 Commitments to make industrial advances 19,425 2,926 7,650 478 1,447 1,430 742 501 1,701 75 342 1400 1,733 MATURITY DISTRIBUTION OF BILLS AND SECURITIES . , . 91 days to Total Within 15 days 16 to 3° days 31 to 60 days 61 to 90 days £ months Over 6 months Bills discounted 8,286 6,176 821 398 6^9 226 l6 Bills bought in open market 4,700 959 1,997 1,390 354 — Industrial advances 26,977 1,251 180 334 318 2,738 22,156 U S. Government securities 2,430,264 4l,103 146,435 120,495 179,894 146,132 1,796,205 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH MAY 29, 1935 (In thousands of dollars) B-801d Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.-bauk by F.R.Agent 3,429,322 278,859 761,354 249,717 327,402 157,194 i4l,937 816,095 143,193 108,752 128,254 56,024 260,535 Held by Federal Reserve bank 257,672 12,933 91,892 12,812 13,285 9,970 18,334 28,954 4,994 5,391 7,784 7,550 43,773 In actual circulation 3,171,650 265,926 669,462 236,905 314,117 147,224 123,603 787,i4l 138,199 103,367 120,470 48,474 216,762 Collateral held by agent as security for notes issued to bank•m 1 • ©old certificates on hand and due from U. S, Treasury 3,271,979 301,617 788,706 224,500 314,715 126,340 82,685 827,346 104,632 107,500 130,000 50,675 2i1 3,263 Eligible paper 6,741 1,691 2,623 606 162 245 247 200 74 50 72 524 247 S. Govt* securities 236,900 — 25,000 15,000 33,ooo 65,000 — 4o,ooo 2,400 — 5,500 51,000 3,515,620 250,106 130,072 56,699 264,510 Total collateral 303,308 791,329 329,877 159,585 147,932 827,546 l44,7o6 109,950 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis