H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SIA.TEMEUT FOB THE PRESS Released for publication B*g01 Saturday morning, July 6; Federal Reserve Board not earlier* July 5, 1935* CONDITION OF OTERAX RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended July 3 as reported "by the Federal Reserve banks was $2 hj5 Q00 OOQ 1 f 9 9 $ a decrease of $2,000,000 compared with the preceding week and of $7*000,000 compared with the corresponding week in 193^ • On July 3 total Reserve bank credit amounted to $2,U6S,000,000, a decrease of 000,000 for the week. This decrease corresponds with a decrease of $1291000,000 ia member bank reserve balances and an increase of $10,000,000 in monetary gold stock, offset in part by increases of $121,000,000 in money in circulation and $11,000,000 in Treasury cash and deposits with Federal Reserve banks and a decrease of $U,000,000 in Treasury and national bank currency. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. Increases of $23#000,000 in holdings of U S Treasury notes and $2,000,000 in II, S* Treasury bills were partially offset # # by a decrease of $2^,000,000 in United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 3, 1935, were as follows: Increase or decrease since July 3 June 26 July 3 197?, , (In millions of dollars) Bills discounted S +1 -21 ... Bills bought , 5 — U. S. Government securities 22,,^^3311 +1 -1 Industrial advances (not including 21 million commitments - July 3) 2S — +2S Other Reserve bank credit -6 -26 TOTAL RESERVE MM CREDIT 2,U6S J* -20 Monetary gold stock 9,119 +10 +1,253 Treasury and national bank currency 2,504 Ji +139 Money in circulation 5.619 +-21 +222 Member bank reserve balances M oo -129 +M5U Treasury cash and deposits with F,R,banks 3,002 +11 -111 Nonmember deposits and other F.R,accounts 570 +1 +108 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, July 6,1935; not earlier. B~S01a ASSETS A1ID LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMB IKED (In thousands of dollars) July 1.1935 June 26.1935 July fr. 193*+ A S S E TS Gold certificates on hand and due from TJ. S. Treasury 6,226,221 6,126,491 4,732,681+ Redemption fund - F. R. notes 22,881 22,583 25.231 Other cash 216.175 239.614 211.608 Total reserves 6,1+65,277 6,388,688 5.019,523 Redemption fund - F. R. bank notes . . — — ^»187 Bills discounted: Secured "by U.S.Gov't. obligations,direct and/or fully guaranteed 5»3S1+ 3.591 4,579 Other bills discounted 2.987 3.546 24.409 Total bills discounted . . .. 8,371 7.137 28,988 Bills bought in open market ^,687 l+,690 5,317 Industrial advances 27,9^ 27,518 U. S. Government securities: , Bonds . 292,7^3 316,865 1+67,807 Treasury notes 1,533,137 1,510.1,221,881+ Certificates and bills ,604,879 602.879 71+2.099 Total U. S. Government securities 2,1+30,759 2,1+30,227 2,1+31,790 Other securities — — 512, Total bills and securities . . 2,1+71,721 2,1+69,572 2,1+66,607 Due from foreign banks . 636 711 3,129 F. R. notes of other banks . . . . .. 17'.,W9^ 0 16,853 15,585 Uncollected items . . . . .. .... 5.27,^36 1+68,964 1+78,866 Bank premises . » . . . . • . . • • «• 72*839 1+9,826 52,682 All other assets , . . . » W 65g 1+2.531 1+7.277 t TOTAL ASSETS 9,577.501 9.^37.1^5 8,087,856 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,293,860 3,197*898 3,121,703 F. R. bank note circulation - net ... l+l+,852 Deposits: Member bank - reserve account . . .. !+,899,723 5.029,^92 3.71+5»739 U.S.Treasurer - General account . . . 161,bSb 80,301 152,150 Foreign bank 25,700 2l+,:':01 ^,530 Other deposits 286.1+81+' 281.1+99 227.241 Total deposits 5,393,593 5,^5,393 K 129,660 Deferred availability items . . . .. 531,850 1+67,61+2 1+60,997 Capital paid in 146,570 ll+6,58l+ ll+7,12l Surplus (Section 7) 11+4,893 llP+,893 138,383 Surplus (Section 13 b) 20,870 20,1+82 Reserve for contingencies 30,777 30,778 22,51+0 All other liabilities 9.088 13.1+75 22.600 TOTAL LIABILITIES 9,577,501 9,^37,1^5 8,087,856 Ratio of total reserves to deposit and F. R. note liabilities combined . . 7!+.!$ 7^.2$ 69,2$ Contingent liability on bills purchased for foreign correspondents — — 1,1+50 Commitments to make industrial advances 20,81+1+ 20,579 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BARKS OH JULY 3, 1935 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Fhila. Cleve. Bich* Atlanta Chicago St.Louis Minn* Kans^Cy. Dallas San Fran, Gold certificates on hand and due from u. S< Treasury 6,226,221 ^ 7 93 2,297,885 295,957 195,^ 153,620 1,^09,553 199,110 137,703 20U,102 106,33k 367,2^+6 Redemption fund ~ F. H. notes 22,881 3,797 1,107 1.872 1,808 2 252 3,56*+ 2,007 1,170- 527 696 310 3,771 f Other cash 216,175 17,858 63,697 28,552 8,1^7 8,978 9,312 2^,728 10,613 13,17*+ 11,058 7,52^ 12,53** Total reserves 6,1+65,277 *+56,1+1+8 2,362,689 326,381 ^,1+59 206,6UU 166,1+96 .1,1+36,288 210,893 l$l k(k 215,856 llklGS 383,551 9 f Bills discounted: Secured "by U S,Govt. obligations, # direct and/or fully guaranteed 5,3SU 62^ 3,912 230 ISO 171 11 -- k 53 — kj Other bills discounted 2,987 155 2,251 83 30 35 27 — 21 81 259 Total hills discounted 8.371 779 6,163 313 210 206 38 k 7* 81 308 195 Bills bought in open market l*,687 3*5 1,801 *75 ¥+5 17* 169 557 80 6»+ 127 122 328 Industrial advances 27»9<& 2,222 6,830 3.633 1.557 1+,1+1+8 1,078 1,925 2,03* 1,1*2 lrS27 666 XI. Government securities: Bonds 292,7*3 17.^20 ,99,^96 20,160 23,227 12,1+35 io,oUs 3*.3*1 11,*7* i**,3lo 12,0U8 16,5*9 21,235 Treasury notes 1.533,137 100,152 1*70,1*63 112,57* 139.097 7*,*63 60,123 228,688 69,211 *3,928 68,01*7 39,220 127,171 Certificates and bills 604,879 *0,106 17*.359 *+l*,386 55,701 29,818 2*,068 97,660 27,515 17,386 27,2*9 15,706 50,925 2,*30,759 157,678 7**,318 177,120 218,025 116,716 9*,239 360,689 108,200 75,62*1 107,31*1* 7l,*75 199,331 Total bills and securities 2,1*71,721 161,OSH 759,112 181,51+1 220,237 121,5** 95,52* 363,171 108,766 77,796 108,69* 73,732 200,520 Due from foreign banks 036 Us 256 65 60 23 77 2 17 17 1*1* F* notes of other banks 17,9*0 358 5,620 U13 1,288 1,*13 808 2,3*2 1,286 1,236 811* 231 2,131 Uncollected items 527,1*36 57,836 13*,3*6 *8,853 *6,2*8 15,719 67,7*5 22,08** 15,7*5 29,808 18,121 25,153 Bank premises 1+9,839 3,168 11,882 ui 6,629 3,028 2,328 *.958 2,628 1,580 3,**9 1,685 3.869 All other assets ^,652 556 31.371 *,391 2,310 1,215 1.655 702 2*6 517 32s 861* 1*97 TOTAL ASSETS 9,577,501 679,^98 3,305,276 563*201+ 713,836 380,115 282,553 1,875,283 3^5,906 21+8,281 358,966 208,818 615,765 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AilD LIABILITIES OF THE FEDERAL RESERVE BASKS ON JULY 3, 1935 L I AS I I I I I E S (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,299,860 284,444 717,^752 42,295 319,456 152,835 128,620 503,822 1^1,^57 102,34s 123,018 53,639 230,451 Deposits: Member bank - reserve account 4,899,723 30^,993 2,012,0122 25,419 295,997 15M67 110,669 920,243 156,8^2 112,111 187,207 119,51+0 290,823 U.S.Treasurer - General account 181,686 2,403 74,617 5,^25 8,636 5,323 9,379 30,729 ^,571 2,468 8,132 2,895 27,108 Foreign hank 25,700 1,869 9,294 2,570 2,467 961 935 3,012 779 623 69s 675 1,817 Other deposits 286,484 4,011 219,321 10,837 4,280 6,672 4,074 2,293 9,^55 6,605 971 1,^1 16,424 Total deposits 5,393,593 313,276 2,321,244 244,251 314,380 167,823 125,057 956,277 171,647 121,807 197,00s 124,651 .336,172 Deferred availability items 531,850 57,20; 137,571 42,898 Us,278 ^,737 15,370 72,5V 22,384 15,236 29,564 20,231 25,825 Capital paid in 146,570 10,754 59,386 15,126 13,112 5,031 4,445 12,784 3,993 3,127 4,036 4,019 10,757 Surplus (Section 7) 144,893 9,902 49,964 13,470 W,37i 5,186 5,540 21,350 4,655 3,^20 3,613 3,777 9,645 Surplus (Section 13 h) 20,870 2,165 6,578 2,098 1,007 2,918 754 1,39^ 5U7 1,003 775 939 695 Reserve for contingencies 30,777 1,6^8 7,500 2,996 3,000 l,4i6 2,602 5,325 891 1,171 826 1,363 2,039 All other liabilities 9,088 100 5,558 70 232 165 1,787 22L 161 126 122. 181 TOTAL LIABILITIES 9,577,501 679.49s 3,305,276 563,204 713,836 380,115 282,553 1.825,283 3^5,906 248,281 358,96b 208,818 615,765 Ratio of total reserves to deposit and F.R.note liabilities combined 74.4 76.4 77.8 67.1 68.5 64.4 65.6 81.6 67.4 67.5 67.4 64.0 67.7 Commitments to make industrial advances 20,844 2,879 8,053 836 1,493 1,72s 671 514 1,787 151 243 44s 2,041 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 8,371 6,401 255 63s 871 191 15 Bills bought in open market 4,687 906 495 960 2,326 Industrial advances 27,904 1,207 200 227 791 2,658 22,821 U. S. Government securities 2,430,759 46,050 44,853 82,679 52,393 324,273 1,880,511 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK JULY 3, 1935 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3,537,6^6 298,062 805,711 253,^98 331,^21 l6l,532 1^3,866 83^,121 1^5,728 107,261 129,288 60,296 266,862 Held by Federal Reserve -bank 237,786 13,618 88,236 11,203 11,965 8,697 15,2^6 30.299 ^,271 *+»913 6,270 6,657 36,Ull In actual circulation 3,299,860 28MH4 717,^75 2^2,295 319,^56 152,835 128,620 803,822 1^1,U57 102,3^8 123,018 53,639 230,^51 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,392,839 301,617 808,706 22^,000 302,715 137,000 112,685 837,51*6 138,632 103,000 130,000 •6(5,675 236,263 Eligible paper 6,880 779 M 89 313 210 206 38 H 7^ 79 50s 180 U. S. Govt, securities 165.OOO 30,000 30,000 25,000 33,000 8,000 5,000 2,000 — 32,000 Total collateral 3.5^.719 302,396 813,395 25M13 332,925 162,206 1^5,723 837,5^6 1^6,636 108,07U 132,079 60,983 268,^3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis