H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PEESS Released for publication B-SOl Friday morning, July 12; Federal Reserve Board not earlier* July 11 1935. f CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended July 10, as reported "by the Federal Reserve "banks was $2^75,000,000, unchanged from the preceding week and $7t000,000 a,bove the corresponding week " in 193^. On July 10 total Reserve "bank credit amotinted to $2,^73,000,000, an increase of $5,000,000 for the week* This increase corresponds with an increase of $152,000,000 in member bank reserve "balances, offset in part "by decreases of $68,000,000 in money in circulation, $70 000,000 in Treasury cash and deposits f with Federal Reserve banks and $5,000,000 in nonmcmber deposits and/feairal Reserve accounts, and an increase of $4,000,000 in monetary gold stock. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances* An increase of $5t000,000 in holdings of United States Treasury bills was offset by a decrease of $5,000,000 in United States Treasury notes, Changes in the amount of Reserve bank credit outstanding and in related items during the weds and the year ended July 10, 1935• were as follows: Increase or decrease since July 10 July 3 July 11 1935 1934 (In trillions of dollars) Bills discounted 7 -1 -16 Bills "bought , 5 U, S. Government securities 22,,443300 -1 -2 Industrial advances (not including 21 million commitments - July 10) 2S +28 Other Reserve "bank credit 3 +7 -5 TOTAL RESERVE BAM CREDIT 2,^-73 4 +5 Monetary gold stock 9,123 +1,2^2 Treasury said national "bank currency 2.503 -1 +138 Money in circulation 5.551 ~6s +207 Member bank reserve balances 5,052 +152 +1,150 Treasury cash and deposits with F.R .banks 2,932 -70 -82 Norunember deposits and other F.R.accounts 565 +111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Rfelease'd for publication Friday morning, July 12,1935; not earlier. B-SOla ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) July 10.1935 July 3.1935 July 11,19^ A S S E TS Gold certificates on hand and due fromU. S. Treasury 6,226,231 6,226,221 U,S10,603 Redemption fund - F. R. notes . . . .. 22,529 22,881 25,051 Other cash 2*+1.301 216.175 231.32*+ Total reserves . 6,1+90,061 6,1+65,277 5.066,978 Redemption fund - F. R. bank notes . .. — — 3,50^ Bills discounted: Secured by U.S.Gov't, obligations,direct and/or fully guaranteed . . . . . .. 3.939 5,38^ 1+»X51+ Other bills discounted 2.902 2.987 18.530 Total bills discounted 6,8l+l 8,371 22,68*+ Bills bought in open market l+,687 M 87 5.259 Industrial advances 28,175 27,904 U. S. Government securities: Bonds 292,1+16 292,7U3 U67.820 Treasury notes 1,528,108 1,533.137 1,227,107 Certificates and bills §09.869 604.879 73b.852 Total U.S. Government securities • 2,1+30,1+13 2,1+30,759 2,1+31,779 Other securities . . . . . . . . . . .. — — I+83 Total bills and securities . . .. 2,1+70,116 2,1+71,721 2,1+60,205 Due from foreign banks . . . . . . . .. 637 636 3,138 F. R. notes of other banks 21,863 17»?40 20,361 Uncollected items 1+72,720 527,436 1+29,215 Bank premises 1+9,81+9 ^9,839 52,717 All other assets 1+4.709 1+4.652 48.353 TOTAL ASSETS 9,5^9,955 9,577,501 8,08l+,l+71 L I A B I L I T I ES F. R. notes in actual circulation . , . 3,267,1+01 3,299,860 3,098,273 F. R. bank note circulation - net . .. — — 41,01+5 Deposits: Member bank - reserve account . . .. 5,051,797 ^,899,723 3,902,098 U .S.Treasurer - General account . . . 101,588 181,686 63,136 Foreign bank 2l+,930 25,700 5,211 Other deposits 277.526 286.1+81+ 217.700 Total deposits 5,1+55,81+1 5,393,593 l+,188,ll+5 Deferred availability items 1+70,026 531,850 l+2l+,8S0 Capital paid in ll+6,6l3 146,570 1^7,2^6 Surplus (Section 7) ll+l+,893 ll+l+,893 138,383 Surplus (Section 1 3 b ) .. 20,871 20,870 Reserve for contingencies 30,780 30,777 22,51+0 All other liabilities 13.530 9.088 23.959 TOTAL LIABILITIES 9,51+9,955 9,577,501 S,08l+,1+71 Ratio of total reserves to deposit and F. R. note liabilities combined . . . ?l+.l+# 7*+.l+?6 69,555 Contingent liability on bills purchased for foreign correspondents . . . . .. — 1,1+01 Commitments to make industrial advances 20,850 20,81+1+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BASKS OH JULY 10, 1935 (In thousands of dollars) A S S E TS B~80rb Total Boston New York Phi la • Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from v. S. Treasury 6,226,231 ^,375 2,397,^73 286,857 ^20,5^7 187,8^2 1^3,081 1,373,396 193,91** 155,7^3 200,202 99.110 #3,671 Redemption fund - P. E. notes 22,529 3,791 1,019 1,SH8 1,7^1 2*235 3,508 1,981 l,l66 52 4 692 308 %7l6 Other cash 2^1,301 22,15^ 71»882 30»5*« 8,3^3 9>311 10.399 28,671 12,028 13.7^2 12,077 8.222 Total reserves 6,H90,06l 1*50,320 2,^0,374 319*053 ^30,631 199,388 156,988 207,108 170,029 212,971 107,8k) 361,511 Bills discounted: Secured by U S»Govt, obligations, # direct and/or fully guaranteed 3,939 954 2,294 220 115 60 — 4 58 89 145 Other bills discoxuated 2,902 108 2,175 57 30 60 57 — — 21 6655 284 45 Total bills disco-anted 6, g^l 1,062 4,469 277 145 120 57 — 4 79 65 373 190 Bills bought in open market 4,687 345 1,801 475 445 174 169 557 go 64 127 122 328 Industrial advances 28,175 2,263 6,856 3,680 1,543 ^512 1,073 1,^23 2,054 1,160 1,865 771 U, S. Government securities: Bonds 292,4l6 17,420 99,496 20,160 23,227 12,435 10,048 33,802 11,473 14,284 11,748 17,082 21,235 Treasury notes 1,528,108 99,799 469,060 112,183 138,606 74,200 59,290 224,838 68,969 43,774 67,807 42,261 126,721 Certificates and bills 609,889 40,459 175,762 44,777 56,192 30,081 24,281 97,043 27,758 17,5*10 27,489 17,132 51,375 Total U.S.Govt, securities 2,430,413 157,67s 744,318 177,120 218,025 116,716 94,219 355,689 108,200 75,598 107,044 76,475 199,331 Total bills and securities 2,470,116 161,31*8 757,444 181,552 220,158 121,522 95,518 358,169 108,759 77,795 108,396 78,835 200,620 Du.e from foreign banks 637 48 257 65 60 23 23 77 3 3 17 17 44 P. E. notes of other banks 21,863 367 6,595 489 987 1,883 1,307 3,290 1,143 1*229 1,426 357 2,790 Uncollected items 472,720 50,787 111,620 36,43s 42,333 40,804 14,307 66,823 21,096 14,384 30,143 18,477 25,50s Bank premises 49,849 3,16s 11,582 4,642 6,632 3,028 2,32s 4*958 2,62s 1,580 3,449 1,685 3,869 All other assets 44,709 551 32,084 4,341 1,761 1,216 1,663 697 24s 525 285 853 485 TOTAL ASSETS 9,5^9,955 666,589 3,390,25.6 546,580 702,562 367,864 272,134 1,038,062 340,985 265,545 356,687 207,864 594,827 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH JULY 10, 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. 283,182 700,269 239,718 320,9^1 150,51+5 127,403 798,929 1^0,613 100,95s 122,597 53,708 228,538 F.Hinotes in actual circulation 3,267,^01 Deposits: Member bank - reserve account 5,051,797 300,987 2,189,275 222,952 299,170 154,682 110,288 890,886 156,209 129,455 190,783 120,117 286,993 U.S.Treasurer- General account 101,588 1,610 30.425 5,515 2,258 3,812 3,713 30,982 3,706 3,572 3,258 1,389 11,348 Foreign tank 24,930 1,869 8,524 2,570 2,467 961 935 3,012 779 623 698 675 1,817 Other deposits 277.526 3,239 219,016 8,195 4,218 3,515 2,374 2,960 8,029 7,234 432 1,756 16,558 Total deposits 5,455,841 307.705 2,447,240 239,232 308,113 162,970 117,310 927,840 168,723 140,884 195,171 123,937 316,716 Deferred availability items 470,026 50,994 110,121 33,790 41,726 39,55^ 13,887 68,295 21,218 i4,so6 29,51^ 19,906 26,215 Capital paid in 146,613 10,754 59,^25 15,126 13,114 5,026 4,44l 12,792 3,991 3,129 4,037 M19 10,759 Surplus (Section j) 144,893 9,902 49,964 13,470 14,371 5,186 5,5^0 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13 b) 20,871 2,165 6,578 2,098 1,008 2,918 75^ 1,391 547 1,003 775 939 695 Reserve for contingencies 30,780 1,648 7,500 2,996 3,000 l,4l6 2,602 5,325 891 1,171 827 1,363 2,041 All other liabilities 239 9,159 150 289 249 197 2,140 3^7 17V 153 215 218 TOTAL LIABILITIES 9,5^9,955 666,589 3.390,256 546,58O 702,562 367,864 272,134 1,838,062 3^0,925 265,545 356,687 207,864 59^,827 Ratio of total reserves to deposit and F.S.note liabilities combined 74.4 76.2 7S.5 66.6 6S.5 63.6 64.2 8I.3 67.0 70.3 67.0 60.6 66.3 Commitments to make industrial advances 20,850 2,877 8,061 783 1,472 1,798 666 514 1,789 151 243 448 2,048 MATURITY DISTRIBUTION OF BILLS A23D SECURITIES 91 days to Total Within 15 days 16 to 30 clays 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,S4l 5,055 92 6o4 866 210 14 373 Bills bought in open market 4,687 667 891 2.756 Industrial advances 28,175 1,250 125 369 728 2.813 22,890 U. S. Government securities 2,430,413 51,255 ^3.023 88,034 50,963 325,904 1,871,23^ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH JULY 10, 1935 (In thousands of dollars) B-gOld Total Boston Hew York Fhila, Cleve. Rich. Atlanta Chicago St.louts Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.baak by F.RJlgent 3.566,972 302,805 811,759 253,632 335.567 160,683 1^5,133 836,759 1^6,608 107,5^5 132,^01 61,650 272,^36 Held by Federal Reserve bank 299,577 19,623 111,^90 13,91^ 1*1,626 10,138 17,730 37,830 5,995 6,587 9,80^ 7,9^2 ^3,898 In ^fc.tual .circulation 3,267,lK)l 283,182 700,269 239,718 320,9^1 150,5^5 127,^03 798,929 li+0,613 100,95s 122,597 53,708 228,538 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S .Treasury 3,^,839 306 ,617 818,706 225,000 306,715 137,000 102,685 8^7,51*6 13^,63 b 2 1 08,000 132,000 59,675 236,263 Eligible paper 5,3^9 1,062 2,995 277 1U5 121 57 — 79 6U 370 175 U. S. Govt, securities 188,000 — — 30,000 30,000 25,000 1*5,000 — 14,000 — 2,000 3,000 39,000 Total collateral 3,608,188 307,679 821,701 255,277 336,860 162,121 1^7,7^2 8^7,5^6 11*8,636 108,079 13^,064 63,(^5 275,^38 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis