H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB HEB PRESS B-601 Released for publication Federal Heserve Board Friday morning, July 19; July 18, 1935 not earlier. CONDITION OF FEDERAL RESERVE BAKICS The daily average volume of Federal Reserve tank credit outstanding during the week ended July 17, as reported "by the Federal Reserve "banks, was $2,472,000,000, an increasfe of $3»000j 000 'compared with the preceding week and of $6,000,000 compared with the corresponding week in 193*+, On July 17 total Reserve "bank credit amounted to $2,472,000,000, practically unchanged from a week ago, decreases of $128,000,000 in member "bank reserve "balances, $21,000,000 in money in circulation, and $5»000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $4,000,000 in monetary gold stock "being largely offset by an increase of $154,000,000 in Treasury cash and deposits with Federal Reserve banks and a decrease of $2,000,000 in Treasury and national bank currency. Member bank reserve balances on July 17 were estimated to be approximately $2,3^,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances. An increase of $15,000,000 in holdings of United States Treasury notes was offset by a decrease of $15,000,000 in Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year endued July 17, were as follows: Increase or decrease since July 17 July 10 July 18 1921? 1935 193,** (In millions of dollars) Bills discounted 7 - 16 Bills bought 5 U. S. Government securities 2,430 - 2 Industrial advances (not including 22 million commitments - July 17) 28 + 28 Other Reserve bank credit 2 - 1 + 2 TOTAL RESERVE BAiffi CREDIT 2.472 - 1 + 12 Monetary gold stock 9,127 + 4 +1,230 Treasury and national bank currency 2,501 - 2 Money in circulation 5,530 -21 +202 Member bank reserve balances 4,924 -128 +937 Treasury cash and deposits with F.R,banks 3,086 +154 +132 « 5 Nonmember deposit® and other F.R.accounts 560 +109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 13, 1935.not earlier. B-SOla ASSETS MD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAiUCS COM3I17ED (In thousands of dollars) July 17. 1935 July 10.1935 July 18,19?*+ A S S E TS Gold certificates on hand and due fromU. S. Treasury 6,226,200 6,226,231 4,847,634 Redaction fund - F. R. notes 21,546 22,529 25,003 Other cash 251.848 241.301 228.824 Total reserves 6,499,594 6,490,061 5,101,461 Redemption fund - F. R. hank notes ... — — 2,996 Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed 3»608 3,939 5,556 Other bills discounted 3.057 2.902 17.696 Total bills discounted 6,665 6,84l 23,252 Bills bou^it in open market 4,679 4,687 5,259 Industrial advances 28,268 28,175 U. S, Government securities: Bonds 292,222 292,4l6 467,805 Treasury notes 1,543,136 1,528,108 1,252,331 Certificates and bills 594.889 609,889 711.651 Total U.S.Government securities . . . 2,430,247 2,430,413 2,431,787 Other securities — —» 483. Total bills and securities . . .. 2,469,859 2,470,116 2,460,701 Due from foreign banks 643 63 7 3,139 F, R. notes of other banks 22,075 21,863 18,980 Uncollected items . . 543,628 472,720 4^9,915 Bank premises 49,904 49,849 52,719 All other assets 45.325 44.709 50.319 TOTAL ASSETS 9,631,028 9,549,955 8,150,330 L I A B I L I T I ES F. R. notes in actual circulation .. . 3,258,418 3,267,401 3,084,823 F. R. bank note circulation - net ... — — 38,560 Deposits: Member bank - reserve account . . .. 4,924,402 5,051,797 3,987,312 U.S.Treasurer - General account . . . 250,869 101,588 21,340 Foreign bank 24,656 24,930 5,285 Other deposits . . . _2ZLiQ£ 277.526 216.693 Total deposits 5,477,332 5,^55,84l 4,230,630 Deforred availability items 542,264 470,026 463,920 Capital paid in 146,608 146,613 147,306 Surplus (Section 7) 144,893 144,893 138,383 Surplus (Section 13b) 21,288 20,871 Reserve for contingoncics 30,780 30,7S0 22,54l All other liabilities 9.445 13.530 24.167 TOTAL LIABILITIES 9,631,028 9,549,955 8,150,330 Ratio of total reserves to deposit and F, R. note liabilities combined . . . 74.4$ 7!+.!$ fyjfi Contingont liability on bills purchased for foreign corrospoindents — — 1,394 Commitments to make industrial advances . 21,696 20,850 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 17, 1935 (In thousands of dollars) A S S E TS B-SOlfc Total Boston New York Ehila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy.D allas San Fran. Gold certificates on hand and due from 0. S. Treasury 6;2e6,200 484,980 2,385,065 292,309 444,204 185,677 129,785 1,339,608 195,700 152,843 189,293 96,104 330,632 Redemption fund - 5". R. notes 21,546 .3,736 833 1,764 1,678 1,810 3,473 1,907 1,1^9 5X6 681 299 3,700 Other cash 251,84s 27,4i4 71,262 31,089 10,656 9,975 9,830 31,347 11,916 13,454 12,336 8,469 l4,100 Total reserves 6,^9,594 516,130 2,457,160 325,162 456,538 197,462 143,088 1,372,862 208,765 166,813 202,310 104,872 348,432 Bills discounted: Secured by U.S.Govt, obligations, direct and/or fully guaranteed 3,608 724 2,122 293 120 55 100 4 5 —— 105 80 Other bills discounted 3,057 91 2,329 49 30 51 27 13 — 61 64 297 45 Total bills discounted 6,665 815 4,451 342 150 106 27 113 4 66 64 402 125 Bills bought in open market 4,679 345 1,793 475 445 174 169 557 80 64 127 122 328 Industrial aivances 28,268 2,261 66,,990011 33,,668822 l» 54l 44,,551199 11,,007711 11,,997711 472 2,052 1,165 1,854 779 U. S. Government securities: * Bonds 292,222 17,419 99,496 20,160 23,227 12,434 10,051 33,808 11,474 14,289 11,548 17,081 21,235 Treasury notes 1,543,136 100,858 473,259 113,355 1^0,077 74,987 60,542 226,815 69,695 44,246 68,526 42,710 128,066 Certificates and bills 594,889 39,400 171,563 43,605 54,721 29,294 23,645 95,066 27,031 17,080 26,770 16,684 50,030 Total U.S.Govt, securities 2,430,247 157,677 744,318 177,120 218,025 116,715 94,238 355,689 108,200 75,615 106,844 76,475 199,331 Total bills and securities 2,469,859 161,098 757,463 181,619 220,161 121,514 95,505 358,330 108,756 77,797 108,200 78,853 200,563 Due from foreign banks 643 48 262 65 60 24 23 77 3 3 17 17 44 F. R. notes of other banks 22,075 379 7,286 54o 1,343 1,596 1,010 3,341 1,565 823 1,342 259 2,591 Uncollected items 543,628 58,392 133,869 42,702 52,984 43,389 17,350 75,992 23,398 15,461 34,087 20,258 25,746 Bank premises 49,904 3,16s 11,937 4,642 6,632 3,028 2,32s 4,958 2,62s 1,580 3,449 1,685 3,869 All other assets 45,325 552 32,722 4,370 1,676 1,200 1,651 696 245 538 337 859 479 TOTAL ASSETS 9,631,028 739*767 3,1K)0,699 559,100 739,394 368,213 260,955 1,816,256 345,360 263,015 349,742 206,803 581,724 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BAiTKS Oil JULY 17, 1935 (In thousands of dollars) B-801c L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.B.notes in actual circulation 3,258,418 284,688 702,1+51 238,720 318,026 l4S,779 127,039 795,392 l4l,084 100,112 122,500 53,781 225,846 Deposits: Member "bank-reserve account 4,924,402 343,345 2,066,s6o 237,541 324,015 150,93"+ 99,534 846,902 157,673 123,167 178,170 ll4,6oS 281,653 U.S.Treasurer-General account 250,869 22,965 132,811 3,929 9,786 7,278 1,633 46,774 3,Ol4 5,690 4,798 4,167 8,024 Foreign bank 24,656 1,869 8,250 2,570 2,467 961 935 3,012 779 623 698 675' 1,817 Other deposits 277,405 3,501 231,602 1,699 1,895 2,065 1,664 2,452 7,820 8,203 495 1,586 14,423 Total deposits 5,477,332 371,680 2,439,523 245,739 338,163 161,23s 103,766 899,l4o 169,286 137,683 184,161 121,036 305,917 Deferred availability items 542,264 58,805 129,956 40,827 51,427 43,062 16,611 78, S59 24,6ia 16,192 33,545 21,738 26,632 Capital paid in l46,6os 10,754 59,432 15,126 1^,11^ 5,026 4,4^2 12,797 3,960 3,135 4,037 4,016 10,759 Surplus (Section 7) 144,893 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 13b) 21,288 2,165 6,578 2,098 1,008 3,335 754 1,391 547 1,003 775 939 695 Xeserve for contingencies 30,780 1,648 7,500 2,996 3,000 l,4i6 2,602 5,325 891 1,171 827 1,363 2,041 All other liabilities 9,445 125 5,295 124 285 171 191 2,002 327 299 284 153 189 TOTAL LIABILITIES 9,631,02s 739,767 3,400,699 559,100 739,394 368,213 260,955 1,816,256 345,360 263,015 349,742 206,S03 581,724 Batio of total reserves to deposit and F.B.note liabilities combined 74.4 78.6 78.2 67.1 69.6 63.7 62.0 81.0 67.3 70.1 66.0 60.0 65.5 Commitments to make industrial advances 21,696 2,885 8,060 785 1,465 1,816 665 514 1,903 150 243 44s 2,762 MATURITY DISTRIBUTION OF BILLS JffiTD SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,665 4,796 98 594 971 190 16 Bills bought in open market 4,679 2,356 633 638 1,052 Industrial advances 28,268 1,288 104 492 1,609 1/763 23,012 U.S. Government securities 2,430,247 44,853 50,419 57,190 105,834 295,737 1,876,214 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE ITOTE STATEMENT Oil JULY 17, 1935 (In thousands of dollars) 3-801d Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.Bet&nk hy IT.R. Agent 3,5^339 30M35 807,117 251,506 33^919 160,076 lhk,80l 832,330 1^7* 5^3 loU.Uii 131>579 59,921 269,501 Held hy Federal Reserve bank 2S9o92i 19,9^7 10^,666 1?, 726 16,893 11,297 17,762 36,933 6,^59 M S9 9.079 6,1^0 ^3,655 In actual circulation 3,25S^1S 284,638 702,^51 23s,720 318,026 1^8,779 127,039 795,392 1^1,OS^ 100,112 122,500 53,781 225,846 Collateral held "by agent as security for notes issued to "bank: Gold certificates on hand and due from U.S.Treasury 3,1+20*339 306,617 818,706 223,000 316,715 136,000 102,685 8^7,5^6 136,632 105,500 132,000 58,675 236,263 Eligible paper 8lk 2,977 3}+2 150 106 27 Ilk k 66 Gk ^00 110 U. S. Govt, securities 175,000 ~ — 30,000 20,000 25,000 ^5*000 — 12,000 — 2,000 2,000 39*000 Total collateral 3,600,513 307,^31 821,683 253,3^2 336,865 161,106 1^7,712 8^7,660 1^8,636 105,566 l3U o6^ 61,075 275,373 f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis