H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, Aug. 23; Federal Reserve Board not earlier* August 22, 1935. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended August 21, as reported by the Federal Reserve banks, was $2,^77,000,000, an increase of $1,000,000- coiqpared with the preceding week and of $13,000,000 eom>pared with the corresponding week in 193^ # On August 21 total Reserve bank credit amounted to $2,U6g,000,000, a decrease Of $9,000,000 for the week. This decrease corresponds with decreases of $53,000,000 in Treasury cash and deposits with Federal Reserve banks and $20,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $5,000,000 in monetaiy gold stock, offset in part by increases of $37,000,000 in member bank reserve balances and $16,000,000 in money in circulation and a decrease of $16,000,000 in Treasury and national bank currency. Member bank reserve balances on August 21 were estimated to be approximately $2,630,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances. An increase of $^,000,000 in holdings of United States Treasury notes was offset by a decrease of 000,000 in holdings of Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended August 21, 1935» wer0 as follows: Increase or decrease since Aug. 21 Aug» Ik Aug. 22 im 193? (In millions of dollars) Bills discounted 7 +1 -13 Bills bought 5 «Mt«M U S. Government securities 2,^30 # -2 Industrial advances (not including 25 million commitments - August 21) 29 +29 Other Reserve bank credit -3 -10 ~3 TOTAL RESERVE BANK CREDIT 2,U6g -9 +11 Monetary gold stock 9»189 +1,206 Treasury and national bank currency 2.U21 -16 +31 Money in circulation 5»57*+ +16 +227 Member "bank reserve balances 5t291 +37 +1,219 Treasury cash and deposits with P. R. banks 2,722 -53 -250 Nonmember deposits and other F.B.accounts 490 -20 +51 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 23; 1935» not earlier. B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Aug. 21 >1935 Aug. 1*1.1935 Aufl. 22 l<?fo t A S S E TS Gold cortificatos on hand and due from U. S. Treasury 6 Wn 513 6,365,767 ^,963,361 f f Redemption fund - F. R. notes . . . . • 20,705 21,527 24,03^ Other cash . . . 227, fop 236.987 228,660 Total reserves * . 6,689, 8*18 6,624,281 5, 2l6 055 f Risdenption fund - 3T. R. bank notes . . • — —• 2,336 Bills discounted: Secured by U.S.Govt, obligations,direct and/or fully guaranteed 3,6U6 2,726 3,599 Other bills discounted 3.U60 3.1+27 16,217 Total bills discounted 7,106 6,153 19,8l6 Bills bought in. open market *+,695 M 93 5.H1* Industrial advances . . . .. 29,284 29,1^7 298 U. S. Government securities: Bonds 290,255 290,213 >+67,565 Treasury notes 1,602,234 1,597,783 1,271,709 Certificates and bills 537.701 51+2.209 692.250 Total U.S. Government securities . 2,1+30,21+0 2,1+30,205 2,1+31,521+ Other securities — — ' 1+28 Total bills and securities . . .. 2,^71,325 2,1+70,198 2,1+57,180 Due from foreign banks . 628 631 3,1^1 F. R. notes of other banks 18,1+90 18,1+SU 16,727 Uncollected items ^79.311 530,511 4oHj6l Bank premises 1+9,966 1+9,965 52,775 All other assets 1+5.Q1+0 1+5,717 ¥+.759 TOTAL ASSETS 9,755,108 9,739.727 8,207,731+ L I A B I L I T I ES F. E. notes in actual circulation . . . 3,3*+0,983 3,321,026 3,105,028 F. R. bank note circulation - net ... — — 32,303 Deposits: Member bank - reserve account . . .. 5,291,^97 5,254,282 1+,072,321 U. S. Treasurer - General account . . 53»72M- 33,798 %»773 Foreign bank 22,802 23,995 9,513 Other deposits 207.161 226.588 201.775 Total deposits . . 5.575,1S1+ 5,538,663 H,327,382 Deferred availability items , US3,UUa 52^,5U0 1+08,230 Capital paid in 11+6,730 11+6,665 ll+6,5ll+ Surplus (Section 7) lUl+,893 ll+l+,893 138,383 Surplus (Section 13b) 22,621 22,621 Reserve for contingencies . . . . . .. 30,776 30,782 22,5*+5 All other liabilities 10.1+79 10.597 27,31+9 TOTAL LIABILITIES . 9,755.108 9,739,787 8,207,73!+ Ratio of total reserves to deposit and F.R. note liabilities combined . . .. 75.0$ 74.8$ 70.2$ Contingent liability on bills purchased for foreign correspondents . . . . .. — 528 Commitments to make industrial advances 24,78}. 23,981 3I+5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES 01* THE FEDERAL RESERVE BAKES OH AUGUST 21, 1935 (In thousands of dollars) B-801b A S S E TS Total Boston Hew Yorlt Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due . , ^ , „ „ from U, S» Treasury 6,1+1+1,513 ^17,699 2,737,07** 313,^8 ^,2^3 197,^95 1^1,863 1,237,029 188,67!+ 11+2,637 186,239 98,312 3^6,600 Redemption fund - F. R. notes 20,705 3,5^3 1,1^9 2,005 1,395 1,7^ 3,157 1,572 1,051 1+77 593 %9 3,520 Other cash 227,630 31,978 1+8,718 30.369 11,723 8,1911 9,739 28,737 n,398 12,325 12,502 6,59^ 15,353 Total reserves 6,689,81+8 1+53,220 2,786,9^1 3^6,022 1+1+7,361 207,1+53 15^,759 1,267,338 201,123 155,^39 199,33** 105,385 365,^73 Bills discounted: Secured by U.S.Govt. obligations , direct and/or fully guaranteed 3,6H6 925 1,5^3 **55 96 107 6 — ft 25 60 210 155 Other bills discounted 3,^0 2k 2,562 8H 25 56 — — 57 81 ^6 115 Total bills discounted 7,106 91+9 U,i05 539 121 107 62 — 61+ 82 ll+l 666 270 Bills bought in open market 1+.695 1,810 1+75 '41+5 169 557 80 61+ 127 122 328 Industrial advances 29,284 2,8$+ 6,965 3*850 1,685 1 1 +.5 1 8 73 5 1,061 1,926 1+1+8 2,084 1,169 1,839 80S U. S. Government securities: Bonds 290,255 17,279 98,1+13 20,005 23,032 12,330 9,959 33,5^7 11,378 1^,253 11,1*52 17,550 21,057 Treasury notes 1,602,281+ 105,036 1+86,1+78 117,979 ll+5»880 78,091+ 63,035 23M12 72,561 1+6,01+6 71,366 1+7,825 133,372 Certificates and bills 537,701 35,362 15^27 39,136 1+9,113 26,292 21,222 87,530 21+, 261 15.330 2l+,026 16,100 1+4,902 Total U.S,Govt. securities 2,1+30,2U0 157,677 739,318 177,120 218,025 116,716 9U,2l6 355,689 108,200 75,629 106,81+1+ 81,1+75 199,331 Total bills and securities 2,1+71,325 l6l,835 752,198 181,981+ 220,276 121,581 95,508 358,172 108,792 77,859 108,281 8l+,102 200,737 Due from foreign banks 628 1+8 2^-7 56 60 23 23 77 ^ 3 17 l6 1+1+ F. B. notes of other banks 18,1+90 337 3,7&+ 608 1,030 2,1+29 1,028 1,995 1,507 928 1,982 368 2,51*+ Uncollected items 1+79,811 1+7,980 118,928 3$,322 l+l+,739 40,882 16,102 66,851 20,666 ll+,105 29,283 18,351 25,602 Bank premises 1+9,966 3,168 11,977 M 60 6,632 3,028 2,331 KS5S 2,628 1,580 3,1+1+9 1,685 3,869 All other assets l+5,Ql+0 560 32,580 *+,207 1,623 1,170 1,633 767 266 550 3*+l 889 ^ T0T4L ASSETS 9,755,108 667,11+8 3,706,635 573,869 721,721 376,566 271,38!+ 1,700,159 33^,986 250,1+61+ 3^2,687 210,796 598,693 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BASES OH AUGUST 21, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston ITew York Ehila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,3^0,983 291,178 716,517 2*4-2,850 32^,601 155.22*4- 13^,573 803,673 1*42,786 100,032 127,072 62,351 2H0.121 Deposits: Member bank - reserve account 5,291,1+97 295,908 2,559,558 250,860 311,337 158,528 102,14714 770,278 Il45,22l4-117.873 1714,14143 113,353 291,661 U.S .Treasurer - General account 53,72l4 *4,398 20*170 2,1149 1^,207 3,521 1,866 8,012 2,031 1,1450 386 1.959 3,575 Foreign 1)31115: 22,802 1,721+ 7,675 2,370 2,2714 88 6 862 2,777 718 57I4 6I4I4 622 1,676 Other deposits 207,161 1,013 7,15^ 2,1432 2,619 2,1+38 3,772 11,613 6,798 1.581 1,788 11,139 Total deposits 5,575,181+ 303,0143 2,71+2,217 262,533 320,250 165,55^ 107,61+0 7814,839 159,586 126,695 177,05*+ 117,722 308,051 Deferred availability items 1433,14142 147,5148 118,285 3l+, 528 145,039 140,625 15,590 68,556 22,183 11+.792 %X 20,127 27,075 Capital paid in 1^6,730 10,758 59,1+98 15,1214 13,13^ 5,0314 W 12,816 3.966 3.13^ 14,013 10,756 Surplus (Section J) 11414,893 9,902 149,9614 13,1470 1^,371 5.186 5,5^ 21,350 14.1 3.^20 3.613 3»777 9,6145 Surplus (Section 13b) 22,621 2,8714 6,863 2,098 1,007 3,335 75*+ 1,331 1,003 802 1,252 695 Beserve for contingencies 30,776 1,6148 7.500 2,995 3,000 1,1410 2,601 5,325 891 1,171 831 1,363 2,01+1 All other liabilities 10,^79 m 5.791 271 319 198 230 2,204 372 217 180 191 309 TOTAL LIABILITIES 9,755,108 667,1148 3,706,635 573,869 721,721 376,566 271,33^ 1.700,159 33^,986 250,14614 31+2,637 210,796 598,693 Batio of total reserves to deposit and F.R. note liabilities combined 75.0 76.3 80.6 68.5 69*14 6I4.7 63.9 79.8 66.5 68.6 65.5 58.5 66.7 Commitments to maice industrial advances 214,781 3,313 9,311+ 711 1,8314 1,799 611 521 1,928 ll+8 1,035 ***** 3,119 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 Over • 6 months 6 months Bills discounted 7,106 5,l40l4 777 392 385 11+14 •1+ Bills bought in open market 14,695 1,1+71+ 695 1,660 866 Industrial advances 29,234 1,270 275 1,678 503 1.931 23,622 U. S. Government securities 2,1+30,21+0 31,870 20,163 109.576 51,360 292,lll4 1,925,157 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT Oil AUGUST 21, 1935 (In thousands of dollars) B-SOld Total Boston New York Phi la, Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. hank hy F.R.Agent. 3,6l6,100 323,21+5 816,090 257,077 339,93^ 163,7^8 152,033 830,61+7 11+8,680 105,312 135.851 67,623 275,860 Held "by Federal Reserve bank 275,117 32,067 99,573 1^,227 15,333 8,52*+ 17,^60 26,969 5,89!+ 5,280 8,779 5,272 35,739 In actual circulation 3,3^0,983 291,173 716,517 21+2,850 32^,601 155,22U 13^,573 803,678 11+2,786 100,032 127,072 62,351 21+0,121 Collateral held hy agent as security for notes issued to hank: Gold certificates on hand and due from U. S. Treasury 3,^3,91^ 326,617 818,706 21+2,000 315,290 139,000 99,685 8^7,5^6 133,632 105,500 125,000 59,675 231,263 Eligible paper 5,63^ 9^9 2,61*2 539 121 107 62 — 63 82 ikl 666 266 U. S. Sovt. securities 207,000 15,000 25,000 25,000 55,000 — 17,000 — 12,000 8,000 50,000 Total collateral 3,656,552 327,566 ,821,3^8 257,539 3^0,1+11 16H,107 15^,7^7 81+7,51+6 150,695 105,582 137,1^1 68,31+1 281,529 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis