H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication Board of Governors Friday morning, Sepfr 6; of the Federal Reserve System # not earlier September 5» 1935* t CONDITIO!? OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended September as reported by the Federal Reserve banks, was $2,^78,000,000, an increase of 000,000 compared with the preceding week and of $8,000,000 compared with the corresponding week in 193^. On September H total Reserve bank credit amounted to $2 1+72,000,000, an inf crease of $1,000,000 iov the week* This increase corresponds with increases of $77,000,000 in money in circulation and $63,000,000 in Treasury cash and deposits with Federal Reserve banks and a decrease of $13,000,000 in Treasury and national bank currency, offset in part by an increase of $12,000,000 in monetary gold stodj: and decreases of $118,000,000 ill member bank reserve balances and $21,000,000 in nonmember deposits and other Federal Reserve accounts* Member bank reserve balancer, on September k were estimated to be approximately $2,670,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances, An increase of $5,000,000 in holdings of United States Treasury notes was offset by a decrease of $5,000,000 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 September 1935, we^e as follows: Increase or decrease since Sept. 1+ Aiag. 28 Sept. 5 19^ J3J5™ (In millions of dollars) Bills discounted 11 +2 -13 Bills bcught . 5 U # S # Government securities 2,^30 — -2 Industrial advances (not including 27 million commitments - September U) 11 •« 1 +2S Other Reserve bank credit -1 -9 TOTAL RISERTB BAM CREDIT 2,If 72 +1 +5 Monetary gold stock 9,209 +12 +1,2^6 Treasury and national bank currency 2,395 -13 -17 Money in circulation 5,650 +77 +231 Member bank reserve balances 5,22s -118 +1.321 Treasury cash and deposits with F.R.banks 2,7^6 +63 Nonmember deposits and other 2\R f accouats ^52 -21 +2k (B-gOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 6,19355 earlier. B-g01a ASSETS AM LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 1935 Aug, 28,1935. Sept. ^ A S S E TS Gold certificates on hand and due from U. S. Treasury . . • • • ^,960,078 Redemption fund - F. R. notes ... 20,0^7 20,1+07 23,329 Other cash .. . . . . . . . . .. 206.1+01 227.12*+ 209,113 Total reserves 6,702,002 6,729,762 5,193,020 Redemption fxmd w F. R. bank notes -- — 1,892 Bills discounted: Secured by U.S«Grovft. obligations, t and/or fully guaranteed. . . . .. 6,083 5,^23 6,1+92 Other bills disco-unted . . . . .. 1+.620 3,986 17.145 Total bills discounted . . . « 10,70s 9,^09 23,637 Bills bought in open market . . .. U,6S5 1+.685 5,219 Industrial advances . . . . . .. , 29,1+30 29,1+1+7 922 U. S. Government securities: Bonds •*.< 290,230 290,316 1+67,21+2 Treasury notes 1,622,752 1,612,351+ 1.303,369 Certificates and bills . . . . .. W.231 521,661 660.592 Total U.S. government securities 2,1+30,213 2,1+30,331 2,1+31.209 Other securities . . . . . .. —— —- 356 Total bills and securities 2,1+75.036 2,1+73.872 2,1+61,91+3 Due from foreign banks . . .. 6*+o 6Uo 3.127 F. R. notes of other banks . , 17,077 21,196 # ,1 I»539 Uncollected items • . . » . »• ^93,930 1+11-3,265 1+36,531 Bank premises 1+9,999 1+9,966 52,203 All other assets . . .. . . . ^7,276 1+6.350 66.522 TOTAL ASSETS . . .. 9,792,090 9,765,051 8.233.503 L I A B I L I T I ES F. R. notes in actual circulation . . 3^13,933 3,352,057 3.1^9.659 F. R. bank note circulation - net . . — 31.^32 Deposits: Member bank - reserve account . . . 5,22C,li+7 5,3^6,1+37 3.907,169 U.S.Treasurer - General account . . 103,062 1+9,277 162,922 Foreign bank . . . . . • * .. . . 19.S59 19,122 11,710 Other deposits . . . • • « •• . • 173,227, 193,^29 191.120 Total deposits . . . . . .. 5,602,265 l+,273,0i+7 5,52^,355 Deferred availability items . . . .. 1+98,126 1+1+7,201 1+31+,91+U Capital paid in . « . . . • • • • •• 11+4,663 11+6,71+1 146,551+ Surplus (Section 7) ll+l+,293 ll+l+,393 132,323 Surplus (Section 13b) . . . . . . .. 22,324 22,621 — Reserve for contingencies 30,777 30,775 22,1+53 All other liabilities . . . . . . . 11.292 37,031 f 12, W, TOTAL LIABILITIES . . . .. 9,792,090 9,765,051 8,233,503 Ratio of total reserves to deposit and F* R. note liabilities combined . . 70.0* 75.0$ 75.1* Contingent liability on bills purchased for foreign correspondents . . . .. — 579 Commi"bnents to make industrial advances 26,619 *26,313 U91 •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 4, 1935 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phila. CI eve. Rich. Atlanta Chicago St.Louis Minn.Kans.C3r. Dallas San Fran. Gold certificates on hand and due from u. s. Treasury 6,1+81,634 433,655 2,7.38,651 307,75^ ^50,903 206,633 152,881 1,210,570 179,681 134,508 186,591 98,76s 381,039 Redemption fund - F. R. notes 20,047 3 I BS 1,930 1,296 1,285 3,068 l,4ll 1,022 462 1,0^3 806 3,450 Other cash 206,401 28,296 43,283 29,053 11.342 8,316 8,286 25,136 11,309 11,656 11,532 5,926 12,266 Total reserves 6,708,082 ^65,1+39 2,782,720 338,737 463,51+1 216,23!+ 164,235 1,237,117 192,012 146,626 199,166 105,500 396,755 Bills discounted: Secured "by U.S.Govt. obligations direct and/or fully guaranteed 6,088 1,945 2,820 319 224444 277 66 — 6699 119944 112200 Other bills discounted 4,620 8 3,629 65 22 30 106 10 ~~6622 113 45s 117 Total bills discounted 10,708 1,953 6,449 384 266 307 112 104 62 182 652 237 Bills bought in open market 4,685 3^5 1,802 475 445 173 169 556 80 64 120 122 328 Industrial advances 29,430 2,897 6,965 3,876 1,751 4,580 1,053 1,973 447 2,102 1,145 1,830 811 U. S. Government securities: Bonds 290,230 17,279 9988,,994411 20,005 23.032 12,330 9,992 3333,,55^^77 11.37S 1144,,119944 1111,,445522 17,023 21,057 Treasury notes 1,622,752 106,481 ^95,553 119,579 147,888 79,169 63,903 237,309 73,553 46,672 72,3*7 45,090 135,20s Certificates and bills 517,231 33,917 149,824 37,536 47,105 25,217 20,354 84,833 23,269 14,703 23,045 14,362 43,066 Total U.S. Govt, securities 2,430,213 157,677 744,318 177,120 218,025 116,716 94,249 355,689 108,200 75,569 106,844 76,475 199.331 Total bills and securities 2,475,036 162,872 759,53** 181,855 220,487 121,776 95,583 358,218 108,831 77,797 108,297 79.079 200,707 Due from foreign banks 64o 4s 255 66 61 24 23 77 4 3 17 17 45 F. R. notes of other banks 17,077 3^9 3,515 468 925 1,274 785 2,358 1,230 1,452 1,810 345 2,566 Uncollected items 493,980 46,694 110,798 35,^31 48,019 ^5,522 17,601 67,416 24,713 18,l4l 32,196 21,396 26,053 Bank premises 49,999 3,16s 11,977 4,692 6,632 3,028 2,331 4,960 2,62s 1,580 3,449 1,685 3,869 All other assets ^7,276 575 34,807 4,201 1,615 1,163 1,627 775 272 545 314 9l4 46s TOTAL ASSETS 9.792,090 679,145 3,703,606 565,^50 741,280 389,021 282,185 1,670,921 329,690 246,144 3^.249 208,936 630,^63 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BANKS OK SEPTEMBER 1+, 1935 (In thousands of dollars) B-gOlc L I A B I L I T I ES Total Boston New York Phi la. Oleve. Rich. Atlanta Chicago St,Louis Minn. Kans«Cy. Dallas San Fran. F.H.notes in actual circulation 3,^13,933 295,^7 73s,S71 21+6,629 323,0^9 163,596 13s,077 211,995 1UU.99U 102,61+6 129,61+3 6^,^57 21+9,569 Deposits: Member bank - reserve account 5.22S, 1U7 305,093 2,53^,909 21+0,385 320,UiU 159,066 108,557 736,355 129,509 107,281 171,093 107,580 307,905 U.S.Treasurer - General account 103,062 1,955 51,079 6,932 9,7^9 1,721 1,353 M 69 11,863 2,289 1,207 1,91^ 8,231 Foreign bank 19,859 1,1+28 7,323 1.9&+ 1,885 73^ 2,302 „ 595 U76 533 516 1,389 Other deposits 173,287 2,300 127,2^9 2,672 2,080 2,902 2,9H 3,772 6,981 6,790 360 1,909 13.361 Total deposits 5,52^,355 310,776 2,721,160 251,953 33^,128 l6U,U23 113,535 71+6,598 ll+S.Ql+8 116,836 173,193 111,919 330,886 Deferred availability items 1+98,126 1+7,56U lll+,232 32,928 ^7,255 1+5,796 69,125 25,330 17,685 I 21,913 26,1+51+ Capital paid in lV+,663 10,756 57,W3 15,11*+ 13, W2 5,040 12,821 3,952 3.135 1+,013 10,750 Suzplus (Section 7) ll+l+,893 9,902 1*9,961+ 13,1+70 1^,371 5,186 5,5^0 21,350 l+,655 3,1+20 3,613 3,777 9,61+5 Surplus (Section ljb) 22,824 2,87^ 6,957 2,098 1,007 3,335 75^ 1,391 5^7 1,003 802 1,252 80l+ Reserve for contingencies 30,777 1,61+8 7,500 2,99.5 3,000 1,1+11 2,601 5,325 891 1,169 831 1.363 2,01+3 All other liabilities 12,519 218 7 ,% 2b3 328 23!+ 233 2,316 373 250 271 2I+2 312 TOTAL LIABILITIES 9,792,090 679,11+5 3,703,606 565,^50 7^1,280 389,021 282,185 1,670,921 329,690 21+6,11+1+ 31+5,21+9 208,936 630,1+63 Ratio of total reserves to deposit and F.S. note liabilities combined 75*0 76.8 80,1+ 67.9 70.0 65.9 65.3 79.^ 65.3 66.8 65.8 59.8 68.1+ Commitments to make industrial advances 26,619 3,1+76 9,720 895 1,791+ 1,810 601 520 1,91+0 1I+9 1,182 1+1+8 l+,08l+ 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 10,708 9.1H5 28U 1+96 712 70 Bills bought in open market i+,685 698 1,571 1+70 1,9^6 Industrial advances 29,1+30 1,367 +61+ 1,607 631 2,033 23,328 U.S. Government securities 2,1+30,213 20,163 30,800 105,333 1+3,860 291+.1+5S 1,935,599 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH SEPTEMBER 4, I935 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: issued to F.R.-bajik by F.Rjlgent 3.668,840 322,646 829,261 258,991 343.>+96 172,256 155.577 836,306 151,129 107,076 137.933 69,978 284,186 Held by Federal Reserve bank 254,907 27.239 90,390 12,362 15.447 8.660 17,500 2*1,311 6,135 M 3O S.295 5.521 34,517 In actual. circulation 3.^13.933 295.^7 738,871 246,629 328,049 163,596 13s,077 811,995 144,994 102,646 129,643 64,457 249,569 bilateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,489,4-33 326,617 833,706 234,000 329,440 149,000 106,685 847,920 127,632 101,500 125,000 61,675 246,263 Eligible paper 9,247 1,953 $,991 3S4 266 307 113 — io4 62 ISO 652 235 U. S. Govt, securities 209,400 — 25,000 15,000 23,000 50,000 25,000 6,4oo 15,000 8,000 42,000 Total collateral 3,708,085 32S,570 838,697 259,384 3^,706 172,307 156,798 8^7,920 152,736 107,962 140,180 70,327 288,498 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis