H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Aug. the Federal Reserve System not earlier« August 29, 1935* CONDITION OF FEDERAL RESERVE BANXS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 2S, as reported by the Federal Reserve banks, was $2,^7^,000,000, a decrease of $3,000,000 compared with tile preceding week and an increase of $13,000,000 compared with the corresponding week in 193^* On August 28 total Reserve bank credit amounted to $2,^71,000,000, an increase of $3,000,000 for the week. This increase corresponds with an increase of $55,000,000 in member bank reserve balances and a decrease of $13,000,000 in Treasury and national bank currency, offset in part by an increase of $2,000,000 in monetary gold stock and decreases of $39,000,000 in Treasury cash and deposits with Federal Reserve banks and $17,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on August 23 were estimated to be approximately $2,730,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances. An increase of $16,000,000 in holdings of United States Treasury notes was offset by a decrease of $16,000,000 in holdings of Treasur; bills. Changes in the amount of Reserve bank credit outstanding ajid in related items during the week and the year ended August 2S, 1935, were as follows: Increase or decrease since Aug. 2S Aug. 21 Aug. 29 (In millions of dollars) Bills disc canted 9 +2 -12 S Bills bought U. S. Government securities 2.U30 -2 Industrial advances (not including 26 million commitments - August 28) 29 —— +2S Other Reserve bank credit -3 -7 TOTAL RESERVE BAMC CREDIT 2,^71 +3 +S Monetary gold stock 9,197 +B +1,216 Treasury and natioml bank currency 2,402 -13 +5 Money in circulation 5.573 -1 +222 Member bank reserve balances +55 +1,219 Treasury cash and deposits with F.R.banks 2.6S3 -39 -261 Nonmember deposits and other F.R accounts U73 -17 +1+3 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 30*1935? not earlier. B~801a ASSETS AND LIABILITIES Of THE TWELVE FEDERAL DESERVE BANKS COMBINED (In thousands of dollars) Aug. 28,1935 Aug, 21.1935 Au^;. 29,1934 A S S E TS Gold certificates on hand and due from U. S. Treasury 6,482,231 6,1*^1,513 4,979,^82 Redemption fund - F. R. notes . . 20,1*07 20,705 24,293 Other cash 227.124 227.630 235.917 Total reserves . . . . . . .. 6,729,762 6,689,81*8 5,239.692 Redemption fund - F. R. bank notes 2,112 Bills discounted: Secured "by U.S.Gov't, obligations,dir ect and/or fully guaranteed . . .. 5,423 3,61*6 4,519 Other "bills discounted . . . .. 3.986 3.1*60 16,488 Total hills discounted . . .. 9,409 7,106 21,007 Bills bought in open market . . .. 4,685 i*,69; 5,247 Industrial advances . 29,447 29,2& 810 U. S. Government securities: Bonds 290,316 290,255 467,839 Treasury notes . . , 1,618,354 1,602,281* 1,281,420 Certificates and bills 521.661 ...537,701 682,543 Total U.S. Government securities 2,1*30,331 2,1*30,2U0 2,431,202 Other securities 221 Total bills and securities 2,1*73,872 2,1+71,325 2,459,257 Due from foreign banks . . .. 6^0 628 3,127 F. R. notes of other banks . . 21,196 18,1*90 ,17,834 Uncollected items 1*1*3,265 l*79,sil 401,225 Bank premises . . . . . . .. 1*9,966 1*9,966 52,775 All other assets , 1*6.350 , 45 o4o 56.824 t TOTAL ASSETS . . .. 9,765.051 9,755,108 8,232,846 L I A B I L I T I ES F. R. notes in actual circulation 3,352,057 3,340,983 3,103,289 F. R. bank note circulation - net 31,933 Deposits: Member bank - reserve accovint . 5,3^6,1+37 5.291,U97 4,126,973 U.S.Treasurer - General account 29,936 1*9,877 53,72l* Foreign bank 19,122 22,802 11,238 Other deposits .. 193,^29. 207.161 192.686 Total deposits . . , 5,608,865 5,575,181* 4,360,833 Deferred availability items 1*1*7,201 1*83,1*1+2 400,800 Capital paid in . . . . .. 11*6,71*1 11*6,730 146,529 Surplus (Section 7) . . . . 144,893 ll*l*,893 138,383 Surplus (Section 13 b) 22,621 22,621 Reserve for contingencies . 30,775 30,776 22,545 All other liabilities . . , 11.898 10.1+79 28,534 TOTAL LIABILITIES . 9,765,051 9,755,108 8,232,846 Ratio of total reserves to deposit and F. R, note liabilities combined . .. 75.1* 75.C 70.2$ Contingent liability on bills purchased for foreign correspondents . . . .. 573 Commitments to make industrial advances 26,363 24,781 357 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL "RESERVE BASES OH AUGUST 28, 1935 (In thousands of dollars) B-SOIb 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 6,482,231 425,867 2,76o,l4s 301,762 10+5,838 199,617 148,864 1,236,008 187,405 i4o,£64 184,959 95.062 356,137 Redemption fund - F. R. notes 20,407 3,520 1,046 1,962 1/559 lr523 3-136 1,527 l,-4l 4j3 5S6 723 3,511 other cash 227,124 31.569 48,474 g9,?52 ll,76i 9:366 29.766 11,932 12.^1-7 12.983 6,902 13>974 Total reserves 6,729,762 1*60,956 2,809,668 332,956 1*58,958 209,73s 161,366 1,267,301 200,398 153,58k 19S 52S 102,687 373,622 s Bills discounted: Secured by U.S.Govt, obligations direct and/or fully guaranteed 5,423 1,24' 2,920 412 90 241 6 84 20 75 205 125 Other "bills discounted 3,986 $ 3,007 74 25 30 34 65 93 514 120 Total bills discounted 9,409 1,269 5*927 486 115 271 4o — 84 85 168 719 245 Bills bought in open market 4,685 1,800 4?5 445 169 557 80 64 127 122 328 Industrial advances 29,447 6,985 3,869 1,777 1 4, 5 1 8 73 1 1,057 1,9/7 448 2,110 l,l4l 1,830 808 U. S. Government securities: Bonds 290,316 17,279 98,413 20,005 23-032 12,330 10,010 33,547 11,378 14.263 11,452 17,550 21,057 Treasury notes 1,618,354 106,062 492,015 119,115 147,306 78,858 63,677 236,52s 73,266 46,496 72,063 4s,292 134,676 Certificates and bills 521,b6l 34,336 148,890 38,000 47,687 25:523 20,605 85,614 23,556 14,835 23.329 15,633 43,598 Total U.S.Govt, securities 2,1+30,331 157,677 739,318 177,120 218,025 116,716 94*292 355,689 108,200 75,644 106..S44 81,475 19y,331 Total bills and securities 2,1+73,872 162,155 754,030 181,950 220,362 121,741 95,558 358,223 108,812 77,903 108,280 84,l46 200,712 Due from foreign banks 640 48 258 66 bO 23 23 77 4 3 17 17 44 F. R. notes of other banks 21,196 339 6,670 638 1,266 1,556 1,037 2,606 1,412 1,025 1,447 363 2,837 Uncollected items 443,265 46,458 102,923 33,447 41,438 38,044 13,942 60,389 19,065 13,430 28,458 20,827 24,844 Bank premises 49,966 3,168 11,977 4,66o 6,632 3,028 2,331 4,959 2,628 1,580 3,449 1,685 3,269 All other assets 46,350 562 34,027 4,181 1,568 1,170 1,621 719 259 542 34o 897 464 TOTAL ASSETS 9,765,051 673,686 3,719,553 557,898 730,284 375,300 275,87s 1,694,274 332,578 248,067 340,519 210,622 606,392 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES OH AUGUST 28, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,352,057 291,S3U 71s,29*+ 243,973 327,^ 157,^55 135,002 804,35*+ 1^2,675 99,884 126,971 61,995 242,121 Deposits*. Member "basic - reserve account 5,3^37 302 s 2H0 2,605,564 241,437 322,390 157,913 109,292 759,666 149,296 115,043 172,587 109,873 301,136 U.S.Treasurer - General account 49,877 3,221 10,255 816 2,513 M 6S 1,506 16,943 1,570 2,492 2,608 2,371 1,011+ Foreign bank 19c122 1-374 7.066 1,889 1.S13 706 687 2,213 572 458 512 ^96 1,336 2,55s Other deposits i93s teg 146,552 3,169 2,339 2,061 2,3^3 5,230 7,775 6,966 339 2,118 11,679 Total dep us it s_ 5,608,865 303,693 2,769,437 2*47,311 329,055165,24s 113,828 784,052 159,213 124,959 176,046 114,85s 315,165 Deferred availability items 447*201 H6 5 728 101 s 935 32,601 41,830 37,085 13,44s 62,473 20,207 i4,is6 25-000 23,085 25,623 Capital paid in 1U6.7U1 10,75s 59,119s 15,121 13,11+1 5,o4o 4,1+56 12,816 3,973 3,13*+ M 13 10,750 Surplus (Section f) l44.893 9.902 49,964 13^70 14,371 5,IS6 5,540 21,350 4,655 3,^20 3,613 3,777 9,645 Surplus (Section Ijb) 22,621 6,863 2,09s 1,007 3,335 754 1,391 547 1,003 S02 1,252 695 Reserve for contingencies 30,775 i,64S 7,500 2,995 3,ooo i,4ii 2,601 5,325 891 1,169 831 1,363 2,041 All other liabilities 11,808 249 6,062 324 386 5H0 249 2,513 4i7 312 215 279 352 TOTAL LIABILITIES 9,765.051 673,686 3,719 = 553 557.S9S 730,284 375,300 275,878 1,694,274 332,57s 248,067 3^0,519 210,622 606,392 Ratio of total reserves to deposit and F.R. note liabilities combined 75*1 7 6.6 80.6 67.S 69.9 65.0 64.8 79.S 66.4 68.3 65.5 58.1 67.0 Commitments to make industrial advances 26,363 3,312 9,73s 756 1,809 1.S13 607 521 1,931 149 1,185 448 4,og4 MATURITY" DISTRIBUTION OF BILLS A21D 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 9,409 7,025 916 564 776 124 4 Bills bought in open market 4.685 898 2,036 502 1,249 Industrial advances 29,447 1,331 188 1,732 527 1,776 23,893 U. S. Government securities 2,430,331 24,930 27,463 112,31s 35t9S5 293,253 1,935.782 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH AUGUST 28, 1935 (In thousands of dollars) B-SOld Total Boston New Yorlt PMla. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.bank "by F.R.Agent 3,631,472 321,094 819,744 256,730 35+2,969 167,294 153,us 833,202 I4S,S49 104,751 135,167 6s,541 280,013 Held "by Federal Reserve "bank: 279^15 29,260 101,450 12,752 15,475 9,S39 18,116 28,848 6,174 4,867 8,196 6,546 37,892 In actual circulation 3,352,057 291,834 718,294 243,973 327,^ 157,^55 135.002 804,354 142,675 99,884 126,971 61,995 242,121 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,436,984 326,617 818,706 232,000 318,440 145,000 99,685 845,466 132,632 105,500 125,000 56,675 231,263 Eligible paper 7,940 1,269 4,464 486 115 271 4o — 84 85 167 719 240 U. S. Govt, securities 218,500 — 25,000 25,000 23,000 55,000 17,000 — 12,000 11,500 50,000 Total collateral 3,663,424 327,886 823,170 257,486 3^3,555 168,271 154,725 845,466 149,716 105,585 137,167 68,894 281,503 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis