H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SimUEOT IOH THE PKESS Released for publication Board of Governors Friday morning, Sept. 13; of the Federal Reserve System not earlier. September 12, 1935 C0HDITI0U OF FEDERAL RESERVE BASICS The daily average vfclune of Fede rallies erve bank credit outstanding during the week ended September 11, as reported by the Federal Beservo banks, was $ 2,US 0,000,000, an increase of $2,000,000 compared with the preceding week and of $11,000,000 compared with the corresponding week in 193^* On September 11 total Reserve bank credit amounted to $2,^79,000,000, an increase of $7,000,000 for the week* This increase corresponds with an increase of $160,000,000 in member bank reserve balances and a decrease of t'.$fy,000,000 in Treasury and national bank currency, offset in part by an increase of $10,000,000 in monetary gold stock and decreases of $12,000,000 in money in circulation, $117,000,000 in Treasury cash and deposits with Federal Reserve banks, and $18,000,000 in nonmembcr deposits and other Federal Reserve accounts. Member bank reserve balances on September 11 were estimated to be approximately $2,820,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. Increases of $19,000,000 in holdings of United States Treasury notes and $l+,000,000 in Treasury bills were offset by a decrease of $23,000,000 in holdings of United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during tile week and tho year ended September 11, 1935» WQre as follows: Increase or decrease since Sept. 11 Sept. k Se^t. 12 ire i f fi jM (in millions of dollars) Bills discounted 11 12 Bills bought . 5 U. S. Government securities 2,^30 Industrial advances (not including 27 million commitments - September 11) 30 +1 +29 Other Reserve bank credit +6 J+ TOTAL RESERVE BA2JK CREDIT 2,^79 +7 +10 Monetary gold stock 9,219 +10 +1,251 J+ Treasury and national bank currency 2,391 -23 Money in circulation 5,63s -12 +229 Member bank reserve balances +160 +1M0 Treasury cash and deposits with F.R.baaka -117 -^29 Nonmember deposits and other F.R. accounts -IS -3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 131935* earlier. B-SOla f ASSETS Aim LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Sept, lit1935 Sept. U,1935 Sept. 12.193^ ASSETS Gold certificates on hand and due from U. S. Treasury . 6»536,039 6,1+81,63^ Redemption fund - F. R. notes 21,210 20,01+7 23,0^3 Other cash . 217,9*?! 206,U01 228,31^ Total reserves , 6775200 6,708,082 5,212,353 f f Redemption fund - ! B, bank notes . • . — 2,226 t Bills discounted: Secured "by U.S.Gov't* obligations,direct and/ or fully guaranteed 6,071 6,088 5,93^ Other bills discounted 5.106 4.620 17.406 Total bills discounted 11,177 10,708 23,3^0 Bills bought in open market 4,685 4,685 5,202 Industrial advances « . » * » » •• • . • 29.550 29,^30 1,281 U. S. Government securities: 266,561 290,230 467,3^3 1,642,418 1,622,752 1,324,622 Certificates and bills 521.231 517,231 639,341 Total U.S. Government securities . . 2,430,210 2,430,213 2,431,306 Other securities 356 mum Total bills and securities . f . , 2,475,622 2,475,036 2,461,485 Due from foreign banks 639 64o 3,126 F. R. notes of other banks 18,077 17,077 19,700 504,445 493,980 458,386 Bank premises . < 50,017 * 999 52,820 All other assets 47.276 57.121 9,273,127 9,792,090 8,267,217 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,422,834 3,413,933 3,148,449 F, R. bank note circulation - not . . , , — 31,127 Deposits: Member bank - reserve account . . , . » 5,388,277 5,228,147 3»91+S,30U U.S.Treasurer - General account . . .. 27,337 103,062 138,729 Foreign bank . 18,581 19»859 12,028 Other deposits . . .. 167.635 173.287 200.998 Total deposits 5,601,830 5,524,355 ^,300,059 Deferred availability items 501,271 498,126 453,515 Capi tal paid in 134,046 144,663 146,663 Surplus (Section j) 144,893 ikk,8$? 138,383 Surplus (Section 13b) . . 23,164 22,824 • • • Reserve for contingencies 30,778 30,777 22,447 • 4 • All othe*r liabilities . . 14.311 12.519 26.574 TOTAL LIABILITIES 9,873,127 9.792,090 8,267,217 Eatio of total reserves to deposit and F. R, note liabilities combined , . . , 75.1$ 75*0$ 70.C$ Contingent liability on bills purchased for foreign correspondents -- 647 Commitments to malre industrial advances - 26,538 26,619 681 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF TEE FEDERAL RESERVE BANKS ON SEPTEMBER 11, 1935 (In thousands of dollars) B-SOTb ASSETS 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 6,536,039 455,451 2,712,732 318,683 453,292 209,733 150,90* 1,215,469 195,202 138,293 194,714 103,699 387,802 Redemption fund - F. R. notes 21,2$0 3,474 1,725 1,871 1,273 1,664 3,055 1,386 1,016 459 1,038 8O3 3,446 Other cash 217,951 28,652 50.127 29,612 10,50^ 8,483 8,777 26,722 11,795 12,298 11,992 6,226 12,763 Total reserves 6,775,200 487,577 2,764,584 350l66 1*65,069 219,885 162,796 1,243,577 208,013 151,050 207,7I& 110,728 464,011 f Bills discounted: Secured "by U.S.Govt, obligations direct and/or fully guaranteed 6,071 11,,0011**77 2,870 1,201 114455 322 — 15 110044 5 7744 193 95 Other bills discounted 5,106 9 1*,1U So 22 63 144 9 62 108 484 34 Total bills discounted 11,177 1,056 6,981 1,261 167 335 144 15 H3 67 182 677 129 Bills bought in open market 1*,685 31*5 1,303 1*71* 445 173 169 556 80 64 126 122 328 Industrial advances 29,550 2,888 7,016 3,397 1,745 4,563 1,044 1,998 455 2,172 1,135 1,327 810 S. Government securities: Bonds 226666,,556611 1166,,000077 83,737 18,098 2211,,226688 11,335 9,202 3311,,117744 10,505 1133,,666688 10,583 1166,,448855 19, W* Treasury no t e s 1,161 *2,1*18 107,5+71 504,637 121,173 149,260 79,904 64,496 239,155 74,232 47,100 73,020 45,508 136,462 Certificates and bills 521,231 34,199 150,9% 31.31*9 47,497 25,427 20,524 85,360 23,463 14,826 23,236 14,432 43,425 Total U.S.Govt, securities 2,, 1*30,210 157.677 71*4,317 177,120 218,025 116,716 94,222 355,689 108,200 75,594 106,844 76,475 199,331 Total bills and securities 2,, 1*75,622 161,966 760,117 182,752 220,382 121,337 95,579 353,258 108,848 77,397 108,287 79,101 200,598 Due from foreign banks 639 1*8 25U 66 61 24 23 77 4 3 17 17 1*5 F. R. notes of other banks 18,077 319 4,370 662 1,368 2,049 1,349 2,313 1,007 1,012 1,369 353 1,901 Uncollected items 50I*, 1*1*5 50,071* 118,961* 33,339 45,488 42,795 16,102 ^,269 24,516 17,456 31,749 18,236 31,457 Bank premises 50,017 3,168 11,973 4,709 6,632 3,028 2,331 4,960 2,628 1,580 3,449 1,635 3,869 All other assets 49,127 571* 35,953 4,931 1,533 1,169 1,619 792 279 542 310 912 458 TOTAL ASSETS 9,373,127 703,726 3.696,225 581,625 7^0,583 390,737 279,799 1,679,21*6 3^5,295 21*9,51*0 352,925 211,037 61*2,339 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 11, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,422,834 29M10 733*590 248,425 335,08S 165,067 139,909 809,236 144,232 102,0+3 130,975 64,685 254,3714- Deposits: Member bank - reserve account 5,388,277 330,^59 2,589,^ 25s,29^ 323,762 162,173 105,678 7^.539 156,^65 no r 944 177,637 110,997 312,875 U.S.Treasurer - General account 27.337 370 5,99^ 2,^20 2,769 91*8 1.978 1,929 2,165 1,125 691 3,275 Foreign "bank 18*581 1,175 8,272 1,615 1,550 587 1.893 489 392 43s 424 1,142 Other deposits 1^7 2.406 118.4o6 2.618 3-895 3,531* '•2,995 7,636 5,g ZZ SB I4 64Q t Total deposits 5,601,830 334,410 2,722,126 264,947 329,976 168,981 110,447 756,312 166,519 120,323 180,063 115,785 331,9^1 Deferred availability items 501,271 50,507 116,510 35.689 44,327 41,887 16,004 70,237 24,184 17,624 31,986 ,916 32,4oo Capital paid in 134,046 9,526 51,736 12,927 12,430 4,723 4,294 12,667 3,875 3,102 4,005 t' 013 10,748 Surplus (Section 7) 144,893 9,902 49,964 13,^70 1^,371 5.186 5,5^0 21,350 4,655 3.^20 3,613 3,777 9,645 Surplus (Section 13 h) 23,16^ 2,874 6,957 2,09s 1,007 3.335 75^ 1.391 5^7 1,003 1,142 1,252 804 Reserve for contingencies 30,778 1,648 7.500 2,995 3,000 l,4n 2,601 5,325 891 1,169 832 1,363 2,043 All other liabilities l^,3H 249 7,842 iH!: 384 197 250 2,728 392 256 309 246 284 TOTAL LIABILITIES 9,873,127 703.726 3,696,225 581,625 7*40,583 390,787 279,799 1,679,246 3^5,295 249,540 352,925 211,037 642,339 Ratio of total reserves to deposit and F,R. note liabilities combined 75.1 77.5 80.0 68.2 69.9 65.8 65.O 79.^ 66.9 67.7 66.8 61.4 6S.9 Commitments to make industrial advances 20,538 3,^63 9,701 905 1,793 1,805 600 520 1,927 150 1,174 428 4,072 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 6 months Over 6 months Bills discounted 11,177 9.698 203 519 702 5^ 1 Bills bought in open market 4,685 2,092 221 513 Industrial advances . 59,550 1,264 I, 282 ,797 2,222 23,337 U.S.Government securities 2,430,210 27.963 27,600 85,370 53.010 297,058 1,939,209 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEEAL RESERVE NOTE STATEMENT OB SEPTEMBER 11, 1935 (In thousands of dollars) B-SOld Total Boston New York Phi la* -Clev-o. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.banlt by F.R.Agent 3,719,110 326,648 843,265 260,359 350,64s 174,801 160,021 840,165 152,878 107,146 139,362 71,513 292,304 Held by Federal Heserve bank: 296,276 32,038 109,675 11,934 15,560 9.734 20,112 30,929 3,646 4,503 8,387 6,828 37,930 In actual circulation 3,422,834 294,610 733,590 248, U25 335*088 165,067 139,909 809,236 144,232 102,643 130,975 64,685 254,374 Collateral held by agent as security for notes issued to bank: &old certificates on hand and due from TJ. S. Treasury 3,553,5^3 331,617 843,706 240,150 336,440 152,000 113,685 846,880 133,632 101,500 125,000 62,675 261,263 Eligible paper 9.716 1,056 5,523 1,261 167 385 l44 15 113 67 180 677 128 U. S. Govt, securities 187,900 20,000 15*000 23,000 50,000 15,000 6,4oo 15,000 8,500 35,000 Total collateral 3,751,164- 332,673 849,229 261,4li 351.607 175*3*5 lg3,329 346,895 153,7^5 107,967 l40,lS0 71,852 296,391 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis