H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Aug 2; Federal Reserve Board # not earlier August l 1935* # f CONDITION OF FEDERAL RESERVE BANKS The daily average volme of Federal Reserve bank credit outstanding during the week ended July 31, as reported "by the Federal Reserve banks, was $2,^711000,000, an increase of $4,000,000 compared with the preceding week and of $7*000,000 compared with the icorresponding week in 193*+* On July 31 total Reserve bank credit amounted to $2,465,000,000, an increase of $5,000,000 for the week* This increase corresponds with increases of $23t000,000 in money in circulation and $155,000,000 in member bank reserve balances, offset in part by decreases of $1^3,000,000 in Treasury cash and deposits with Federal Reserve banks and $13,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $8,000,000 in monetary gold stock and $8,000,000 in Treasury and national bank currency. Member bank reserve balances on July 31 were estimated to be approximately $2,510f000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances• An increase of $5,000,000 in holdings of U. S # Treasury notes was offset by a decrease of $5,000,000 in Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 31t 1935> were follows: Increase or decrease since July 31 July 2k Avg. 1 1935 1935 193k (in millions of dollars) Bills discounted 7 +1 Bills bo-ught 5 — II. S• Government securities 2.U30 -2 Industrial advances (not including 23 million commitments - July 31) 28 . „,. +28 Other Reserve bank credit -5 -10 TOTAL RESERVE BAM CREDIT 2,^5 +5 +2 Monetary gold stock 9,1^3 +g +1,211 Treasury and national bank currency 2,511 +e +150 Money in circulation 5,519 +23 +203 Member bank reserve balances 5,100 +155 +1,185 Treasury cash and deposits with F.R.banks 2,991 -143 -S3 Nonmember deposits and other F.R. accounts 510 '-13 +59 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 2;1935'» not earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) July -51.1935 July 2U.19V5 Aufi. l 19ft t A S S E TS Gold certificates on hand and due from U. S. Treasury 6,22^,116 6 226,001+ U906009 f t f Redemption fund - F. R notes . . 21,829 21,7*6 2^,003 # Otlier cash 269.230 26^9,7 22*5.891 Total reserves • 6,515.175 6,513.2^7 5ii55f9°3 Redemption fund - F. R. "bank notes 2,105 Bills discounted: Secured by U.S«Grovft. obligations, direct and/or fully guaranteed . . 3.^32 3,083 ^,337 Other bills discounted . • . 3.138 3.026 17.033 Total bills discounted • 6,570 6,109 21,370 Bills bought in open market . ^687 ^.676 5,206 Industrial advances 28,35*+ 28.35S 5 U. S. Government securities: Bonds • • • • • • • • • •• 292,212 292,214 467,809 Treasury notes . . • . . • 1,569,963 1,564,987 1,252,320 Certificates and bills . . . 56s.034 573.03*+ 711,651 Total U« S. Government securities 2,430,209 2,430,235 2,431,730 Other securities «... 465 Total bills and securities . • 2,469,820 2,469,378 2,458,826 # Due from foreign banks • 635 646 3,124 F. R. notes of other banks . • • • • 17,127 18,977 17,298 Uncollected items • 455,435 ^59,960 438,558 Bank premises 49,904 1+9,904 52,727 All other assets • • • • • • • • •• 47,520 46,230 49.674 TOTAL ASSETS 9,555,616 9,558,3^2 8,178,215 L I A B I L I T I ES F t R. notes in actual circulation 3,261,622 3,242,240 3.078,823 F. R. bank note circulation - net —— 33,864 Deposits: Member bank - reserve account • • 5,099,616 4,91+4,603 3,914,813 U. S. Treasurer - General account 125,981 282,677 159.594 Foreign bank 23,288 25,258 6,864 Other deposits , 229,55*5 239,827 311.978, Total deposits , 5.^78,1+38 5,^91,765 ^,293,249 Deferred availability items 460,873 469,872 4^7,474 Capital paid in 146,647 146,630 1^6,552 Surplus (Section 7) . . . , 144,893 144,893 138,383 Surplus (Section 13b) « * , 21,572 21,287 Reserve for contingencies , 30,781 30,780 22,51+0 All other liabilities „ . , 10,79° 10,875 27,330 TOTAL LIABILITIES 9.555,616 9,558,3^2 8,178,215 Ratio of total reserves to deposit and F,R. note liabilities combined . # . 74.6^ 69.9^ Contingent liability on biljs purchased for foreign correspondents — 1,085 Commitments to make industrial advances 23,022 22,197 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS 12TO LIABILITIES OP THE FEDERAL RESERVE BAMS OH JULY 31, 1335 (In thousands of dollars) B-801b A S S E TS 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 U. S. Treasury 6,224,116 395,9^3 2,576,220 267,677 440,191 178,754 126,065 1,266,770 188,497 138,431 180,551 136,299 328,718 Redemption fund - I, R. notes 21,829 3.675 1,537 2,l46 1,554 1,793 3,276 1,103 ^97 632 307 3,565 other cash 269,230 30,533 72,410 32,316 11,018 10,967 10,573 35,9^3 12,593 13%^95 12,767 8,94s 17,667 Total reserves 6,515,175 ^30,151 2,650,167 302,139 452,763 191,51^ 139,91^ 1,30^5? 202,193 152,423 193,950 145.554 3^9,950 Bills discounted: Secured by U.S.Govt, obligations direct and/or fully guaranteed 3,432 776644 11,,333322 550044 111100 120 21 100 4 25 226699 ii44oo Other bills discounted 3,138 70 2,196 124 27 30 48 15 — 69 73 338 i4s Total bills discounted 6,570 834 3,528 628 137 150 69 115 4 9* 116 607 288 Bills bought in open market ^,687 1,801 475 445 174 169 557 80 64 127 122 328 Industrial advances 28,35^ 2,254 6,929 3,697 1,640 4,590 1,075 1,842 449 2,076 1,157 1,837 808 U. S. Government securities: Bonds 292,212 1177,,^^1199 99,496 20,160 23,227 1122,,443344 10,070 33,808 1111,,447744 1144,,226600 1111,,554488 17,081 21,235 Treasury notes 11,,556699,,996633 102,754 480,777 115,454 142,710 76,397 61,664 230,353 70,996 45,056 69,815 ^3,513 130,474 Certificates and bills 556688,,003344 37,504 164,045 41,506 52,088 27,884 22,507 91,528 25,730 16,25s 25,481 15,881 41*622 Total U.S.Govt, securities 2,430,209 157,677 744,318 177,120 218,025 116,715 94,24l 355,689 108,200 75,57** 106,844 76,1+75 199,331 Total bills and securities 2,469,820 161,110 756,576 181,920 220,247 121,629 95,55^ 358,203 108,733 77,808 108,244 79»o4i 200.755 Ihie from foreign banks 635 48 , 255 65 60 23 77 3 3 17 17 44 P P. R. notes of other banks 17,127 381 4,415 732 1,132 2,345 1.163 2,670 791 599 1,317 263 1,319 Uncolledted items ^55.^35 48,451 11^,323 37,76s 41,603 36,663 13,157 64,706 19.171 12,120 28,366 15,145 23,962 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 47,520 555 34,302 5,051 1,621 1,200 1.663 680 241 533 317 882 475 TOTAL ASSETS 9,555,616 65+3,861* 3,571,975 532,317 724,058 356,402 253,802 1,735,751 333,760 2^,066 335,660 242.587 580,37^ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAMS ON JULY 31, 1935 (In thousands of dollars) L I A B I L I T I ES B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Iran. F.R.notes in actual circulation 3,261,622 283,66s 707,052 236,7^2 317,6^5 1^7,175 127,388 79^.263 11+0,527 97,675 122,U5H 58,768 228,265 Deposits: Member bank - reserve account 5,099,616 273,133 2,1+11,308 216,922 318.38U 1^,575 95,929 767,^98 111,979 170,5^0 285,351+ U.S.Treasurer - General account 125,981 9,095 16,266 3,067 10,296 9,61+2 1,799 59,801 6,1+79 2,843 1,756 Foreign "bank 23,288 1.671 8,620 2,298 2,205 859 836 2,693 696 „ 557 62k 1,625 Other deposits 229,553 2,990 185,605 1,842 2,1^0 2,193 l,i+oo 3,083 7,251 6,597 41+6 1,329 1^,377 Total deposits 5.^78,H38 286,889 2,621,799 22l+,129 333,325 157.269 99,96U 833.075 162,001+ 125,612 ljk t hk3 156,817 303,H2 Deferred availability items 1+60,873 1+8,609 113,536 36,907 ^1,376 36,817 12,891+ 65,1+1+1+ 20,821+ 12,856 29,270 16,722 25,61s Capital paid in 11+6,61+7 10,75^ 59,469 15,120 13,H0 5,01+0 U.i+52 12,806 3,960 3.13^ s+,035 l+.OOS 10,759 Surplus (Section 7) ii+i+,893 9,902 49,961+ 13,1+70 lU,37l 5,186 5,5^0 21,350 i+,655 3,1+20 3,613 3,777 9,6% Surplus (Section 13b) 21,572 2,165 6,863 2,098 1,007 3,335 75^ 1,391 51+7 1,003 775 939 695 Reserve for contingencies 30,781 1,61+8 7,500 2,995 3,000 1,416 2,601+ 5,325 891 1,171 827 1,363 2,041 All other liabilities 10,790 229 5,792 856 22*+ 16I+ 206 2,097 352 195 21+3 193 239 TOTAL LIABILITIES 9,555,616 61+3,86k 3,571,975 532,317 72*+,058 356,1+02 253,802 1,735,751 333,760 2^5,066 335.660 21+2,587 580,37^ Ratio of total reserves to deposit and F.S.note liabilities combined 7^.5 75.^ 79.6 65.6 69.6 62.9 61.5 80.2 66.8 68.3 65.3 67.5 65.9 Commitments to make industrial advances 23,022 2,978 8,863 7I+2 1,852 1,857 61+5 51U 1,895 1^9 2I+3 ^8 2,836 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days Over 6 months 16 to 30 days 31 to 60 days 6l to 90 days 6 months Bills discounted 6,570 *+,386 617 876 1+6S 218 Bills "bought in open market *+,6S7 i+63 566 1,350 2,308 Industrial advances 28,354 1,259 110 1+61 1,779 1,707 23,038 U.S. Government securities 2,1+30,209 52,1+07 32,260 52,393 115,812 268,370 1,908,967 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH JULY 31, 1935 (In thousands of dollars) B-gOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Podorstl S.© s ©-tv © no t»©s • Issued to F.R.bank by p.Ej^ent 3,532,i1+0 309,733 801,605 251,307 335,217 157,OSH i*+3,oo6 823,112 1^6,U92 103,756 130,790 63,91+5 266,093 Held by Federal Reserve bank 270,518 26,065 9^,553 1^,5^5 17,572 9,909 15,618 28,8^9 5,965 6,081 8,336 5,177 37,828 In actual circulation 3,261,622 283,668 707,052 236,7^2 317,6^5 1^7,175 127*388 79^,263 1^0,527 97,675 122,58,768 228,265 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,389,839 316,617 818,706 216,000 316,715 131,000 92,685 8^7,5^ 133,632 10^,500 122,000 6U,175 226,263 Eligible paper 5,090 833 2,055 628 137 150 69 115 1+ 9U 115 607 :283 U. S. Govt. securities 205,000 — 35,000 20,000 27,000 55,000 — 1*1,000 — 10,000 — Ml,000 Total collateral 3,599,929 3 1 7 ,^ 820,761 251,628 336,852 158,150 1^7,75^ 81+7,66l 1^7,636 10l+,59H 132,115 6k,782 270,51+6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis