H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEISEST FOR THE PESSS Released for publication B-SOl Friday morning, July 26; Federal Reserve Board not earlier July 25, 1935 CONDITION OF FEDERAL RESERVE 3AHKS The daily average volume of Federal Heserve tank credit outstanding during the week ended July 2^, as reported "by the Federal Reserve "banks, was $2, US'],000,000, a decrease of $11,000,000 compared with the preceding week and an increase of $6,000,000 compared with the corresponding week in 193^ On July 2^, total Reserve tank credit amounted to $2,^60,000,000, a decrease of $12,000,000 for the week* This decrease corresponds with decreases of $3*+,000,000 in money in circulation and $37*000,000 in nonmember deposits and other Federal Reserve accounts and increases 6f $8,000,000 in monetary gold stock and $2,000,000 in Treasury and national "bank currency, offset in part "by increases of $^3,000000 in Treasury cash and deposits with Federal Reserve banks and f $21,000,000 in member bank reserve balances. Member bank reserve balances on July 2*+ were estlue&ed to bo approximately $2,31+0|000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances in increase of $22,000,000 in holdings of # United States Treasury notes Has offset by a decrease of $22000,000 in Treasury f bills* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 24, 1935t woro follows: Increase or decrease since July 2k July 17 July 25 1935 1935 193^ (In millions of dollars) Bills discounted 6 - 1 - 15 Bills bought 5 tmmm mm — U, S. Government securities 2,^30 — - 2 Industrial advances (not including 22 million commitments - July 2*+) 28 + 28 Other Reserve bank credit -9 - 11 - 6 TOTAL RESERVE 3AM CREDIT 2,460 - 12 • 4 Monetary gold stock 9,135 + 8 +1,224 Treasury and national bank currency 2,50} + e + 139 Money in circulation 5,496 + 205 Member bank reserve balances U.9U5 + 21 + 925 Treasury cash and deposits with F.R. "basks 3,134 + 48 + 162 Honmembcr deposits and other P.S.accounts 523 - 37 + 75 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 2S 1935; not earlier. B~S01a t ASSETS £SD LIABILITIES OF TEES TWXLV3 m)32AL 22SERV2 BAMS COLS HOD (In thousands of dollars) July 2*4,1935 July 17,1935 July 25. 193^ A S S E TS Gold certificates on hand and duo. from TJ. S. Treasury . . . 6,226,004 6,226*200 4,873,172 # Redemption fund - P. R notes 21,746 21,546 24,620 # Other cash . . . . . . . .. 265,497 251.848 235.327 Total reserves • • . . . 6,513*247 6,499,594 5,133,119 Redemption fund - E. bank notes 2,304 Bills discounted: Secured "by U.S.Gov't, obligation*;, direct and/or fully guaranteed 3,083 3,60s 4,364 Other "bills discounted . . 3,026 3.057 16.934 Total bills discounted 6,109 6,665 21,298 Bills "bought in open market 4,676 4,679 5,271 Industrial advances . * . . , 28,35S 28,268 U. S* Government securities: Bonds 292,214 292,222 468,094 Treasury notes . . • • . 1,564,987 1,543,136 1,252,308 Certificates and bills . . 573,034 594,889 711,650 Total U.S. Government securities 2,430,235 2,430,247 2,432,052 Other securities • , 471 Total bills and securities . . 2,469,378 2,469,859 2,459,092 Due from foreign banks . , 646 643 3,128 F. R. notes of other banks 18,977 22,075 18,700 Uncollected items . . . . 459,960 543,628 399,143 Bank premises . 49,904 49,904 52,728 All other assets . . . , 46,230 45,325 52,754 TOTAL ASSETS 9,55^,342 9,631,028 8,120,968 L I A B I L I T I ES F. R. notes in actual circulation 3,242,240 3,258,418 3,060,241 P. R« bank note circulation - net 33,743 Deposits: Member bank - reserve account . 4,944,603 4,924,^)2 4,020,030 U.S. Treasiirer - General account 282,077 250,869 47,801 Foreign bank . . 25,258 24,656 7,885 Other deposits . 239,827 277,^5 211,851 Total deposits . . 5,451,765 5,477,332 4,287,567 Deferred availability items 469,872 542,264 405,799 Capital paid in . . . . .. 146,630 146,60S 147,285 Surplus (Section 7) • • . • 144,893 144,893 138,383 Surplus (Section 13b) . • . 21,237 21,288 Reserve for contingencies * 30,780 30,780 22,540 All other liabilities . . . 10,875 9,^5 25,4IO TOTAL LIABILITIES . . . .. 9,558,342 9,631,028 8,120,968 Ratio of total reserves to deposit and JP.R. note liabilities combined . . . 74.6* 74.4^ 69.9$ Contingent liability on bills purchased for foreign correspondents . . . . . 1,196 I»I» Commitments to make industrial advances 22,197 21,696 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 24, 1935 (In thousands of dollars) B-SOrb A S S E TS 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 6,226,004 4-32,918 2,488,351 275,499 ^37,911 185,273 128,830 1,321,318 192,272 l4g,6o6 183,274 95,619 336,133 Redemption fund - F. R. notes 21,746 3,736 833 1,9^4 1,67s 1,810 3,473 1,907 l,l49 516 681 299 3,700 other cash 265,497 31,904 74,175 31,390 10,367 lO,l4o 10,685 33,o4g 12,59b 13,748 12,842 9,058 15,543 Total reserves 6,513,247 468,558 2,563,359 308,853 449,956 197,223 142,988 1,356,274 206,017 162,870 196,797 104,976 355,376 Bills discounted: Secured by U.S.Govt, obligations, direct and/or fully guaranteed 3,083 689 1,544 422 90 P 10 4 3 18 119 105 Other "bills discounted 3,026 59 2,223 90 30 4i 80 15 — 60 65 318 45 Total bills discounted 6,109 74s 3,767 512 120 120 90 15 4 63 83 437 150 Bills bought in open market 4,676 345 1,790 475 445 174 169 557 80 64 127 122 32s Industrial advances 28,358 2,261 6,862 3,679 l,64i 4,555 1,068 1,943 456 2,081 1,157 1,847 808 U. S. Government securities: Bonds 292,214 17,419 99,496 20,160 23,227 12,434 10,054 33,808 11,473 14,278 11,548 17,082 21,235 Treasury notes 1,564,987 102,401 479,377 115,063 142,220 76,135 61,452 229,695 70,754 44,927 69,575 ^3,362 130,026 Certificates and bills 573,034 37,857 165,445 41,897 52,578 28,146 22,719 92,18b 25,973 l6,4ll 25,721 16,031 48,070 Total U.S.Govt, securities 2,430,235 157,677 7.44,318 177,120 218,025 116,715 94,225 355,689 108,200 75,6I6 106,844 76,475 199.331 Total bills and securities 2,469,378 161,031 756,737 181,786 220,231 121,564 95,552 358,204 108,740 77,824 108,211 78,881 200,617 Due from foreign banks 646 48 266 65 60 23 23 ,77 3 3 17 17 44 F. R. notes of other baaks 18,977 379 3,930 485 1,606 2,037 972 2,482 1,163 931 1,801 388 2,803 Uncollected items 459,960 ^7,170 Hi, 77^ 38,076 43,309 38,318 13,423 66,377 19,396 12,669 27,815 16,858 24,775 Bank premises 49,904 3,168 11,937 4,642 6,632 3,028 2,328 4,958 2,628 1,580 3,449 1,685 3,869 All other assets 46,230 556 33,6oo M33 l,6l4 1,231 1,651 709 239 52S 337 867 465 TOTAL ASSETS 9,558,342 680,910 3,^81,603 538,340 723,408 363,424 256,937 1,789,081 338,186 256,405 338,427 203,672 587,949 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES CSF THE FEDERAL RESERVE BANKS OH JULY 24, 1935 (In thousands of dollars) L I A B I L I T I ES B-8010 Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Eane.Cy. Dallas San Fran. P.R.notes in actual circulation 3,242,240 285,567 697,103 235,734 318,223 :1 47,012 126,190 793,278 139,902 98,698 121,696 54,121 224, 716 Deposits: Member bank -reserve account 44,,994444,,660033 300,375 22, 151,104 2; 26,345 318,270 :L 53,809 98,659 830,064 157,195 124,240 174,904 116,778 292,860 U.S.Treasurer-General account 282,077 15,922 186,531 1,593 7,888 6,568 2,586 47,696 1,999 2,691 1*948 1,660 4,995 Foreign bank 25,258 1,869 8,852 2,570 2,467 961 935 3,012 779 623 698 675 1,317 Other deposits 239,827 4,191 192,694 1,806 1,635 2,036 l,4so 3,274 7,507 7,899 1,733 1,222 14,350 Total deposits 5,^91,765 322,357 «J, 539,181 232,314 330,260 L: 63,374 103,660 884,o46 167,480 :1 35,453 179,283 120,335 314,022 Deferred availability items 469,872 48,298 116,303 36,289 43,113 37,911 13,521 68,334 20,391 13,320 27,137 18,924 25,831 Capital paid in 146,630 10,754 59,459 15,126 13,110 5,026 4,452 12,798 3,960 3,134 4,035 4,017 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 ljb) 21,287 2,165 6,578 2,098 1,007 3,335 754 1,391 547 1,003 775 939 695 Reserve for contingencies 30,780 1,64« 7,500 2,996 3,000 l,4l6 2,602 5,325 891 1,171 827 1,363 2,O4I All other liabilities 10,875 219 5,515 313 324 164 218 2,059 360 206 1,061 196 24O TOTAL LIABILITIES 9,553,342 680,910 3,481,603 533,340 723,408 363,424 256,937 1,789,081 338,186 256,405 338,427 203,672 537,94$ Ratio of total reserves to deposit 79.2 66.0 69.4 63.5 62.2 80.9 67,0 69.6 65.4 60^2 66.0 and F.R.note liabilities combined 74.6 77.1 Commitments to moke industrial . advances 22,197 2,945 8,076 727 1,3^9 1,838 665 514 1,901 150 2^3 448 2,84l MATURITY DISTRIBUTION OF BILLS A© SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 dcys 6l to 90 days Over 6 months 6 months Bills discounted 6,109 4,071 55 1,301 1+79 196 7 Bills bought in open market M76 2,502 632 567 975 Industrial advances 28,358 1,17S 184 469 1,762 l,7*+0 23,025 U.S. Government securities 2,430,235 43,023 4o,6l4 52,033 109,072 306,859 1,878,634 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEUECTT ON JULY zk, 1935 (In thousands of dollars) B-801d Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. Fodcral Reserve notes: Issued to F.R.barik by F.R.Agcnt 3,5^,798 307,613 804,887 250,97* 33M71* 152,593 1^3,327 830,38^ 1^7,336 10^,191 131,269 59,27^ 268,^72 Hold by Federal Reserve bank 298,558 22,OW 107,78^ 15,2^ 16,251 11,581 17,137 37,106 5,^93 9,573 5,153 ^3,756 In actual circulation 3,2^2,2^0 285,567 697,103 235,731* 318,223 1^7,012 126,190 793,278 139,902 98,698 121,696 5^,12122^,716 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3,398,839 316,617 818,706 216,000 316,715 133,000 92,685 8U7,5U6 136,632 105,500 127,000 57,175 231,263 Eligible paper ^*627 7^8 2,293 512 120 120 90 15 U 63 - 82 ^35 1^5 U. S. Govt, securities 201,000 — — 35,000 20,000 27,000 55,000 — 12,000 — 6,000 2,000 UU.ooo Total collateral 3,60^,1*66 317,365 820,999 251,512 336,835 160,120 1^7,775 8^7,561 1^8,636 105,563 133,082 59,610 275, ^8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis