H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning* Sept. 20; of the Federal Reserve System September 19, 1935* CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank: credit outstanding during the week ended September 18, as reported by the Federal Reserve banks* was $2,485*000,000, an increase of $5,000,000 compared with the preceding week and of $12,000,000 compared with the corresponding week in 193^ # On September 18 total Reserve bank credit amounted to $2U72,000,000 a det t crease of $7,000,000 for the week. This decrease corresponds with decreases of $252,000,000 in member bank reserve balances and $6,000,000 in money in circulation and an increase of $21,000,000 in monetary gold stock, offset in part by increases of $21G,000 Q00 in Treasury cash and deposits with Federal Reserve banks and f $60*000,000 in nonmeniber deposits and other Federal Reserve accottats. Member bank reserve balances on September 18 were estimated to be approximately $2,5^0,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances* An increase of $50 000 000 in holdings of United f f States Treasury notes was offset by decreases of $28,000,000 in United States bonds and $22 000 000 in Treasury bills* t f Changes in tjie amount of Reserve bank credit outstanding and in related items during the week and the year ended September 18, 1935» were as follows: Increase or decrease since Sept. 18 Sept* 11 Sept. 19 193*? 19T? • 19ft (In millions of dollars) Bills discounted 10 -12 Bills bought U.S. Government securities Industrial advances (not including 27 million commitments September 18) 30 +29 Other Reserve bank credit -3 -7 -10 TOTAL RESERVE BASK CREDIT 2,^72 -7 +6 Monetary gold stock 9 >2*10 +21 +1,268 Treasury and national bank currency 2,390 -1 -22 Money in circulation 5 >632 ~6 +220 Member bank reserve balances 5,136 -252 +1,2^7 Treasury cash and deposits with F R*banks +210 -285 # +60 +69 Nonmember deposits and other F.R. accounts Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for pxiblicatioa Friday morning, September 20,1935? not earlier. B-SOla ASSETS A1JD LIABILITIES Of THE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 18,1935 Sept. 11.1935 Sept.19.193>* A S S E TS Gold certificates on hand and due from U. S, Treasury . . . , 6,551.132 6,536,039 l*,957,621* Redemption fund - P. R. notes ... 20,503 21,210 23,382 Other cash 218,OUg 217.951 229.733 Total reserves . . . . . .. 6.7S9.6S3 6,775.200 5,210,739 Redemption fund - F. R. bank notes 1.995 Bills discounted: Secured "by U.S.Gov't. obligations,direct and/or fully guaranteed . . . 1+J03 6,071 5,716 Other "bills discounted . . . .. 5.106 16.21*9 Total bills discounted . . . 9,638 11,177 21,965 H, 682 5,202 Bills bought in open market . . .. M 85 Industrial advances . . . . . . .. 30,230 29,550 l,l*9l* U. S. Government securities: Bonds • • . . . . . . . . . , .. 232,97s 266,561 396,61*3 Treasury notes 1,692,227 1,61*2,418 1,1*21,710 Certificates and bills . . . .. **y?,Q68 521,23} 612.369 Total U.S.Government securities 2,1*30,273 2,1*30,210 2,1*30,722 Other securities . . . . . . .. Total bills, and securities 2,1*74,823 2,1*75,622 2,1*59,739 Dae from foreign banks 643 639 2,1*26 F. R. notes of other banlcs . . , 20,369 IS,077 22,735 Uncollected items . . . . . .. 619,461 504,41*5 1*86,91*0 Bank premises 50,071 50,017 52,821 All other assets . . . . . . .. ^3.061 **9,127 52,937 TOTAL ASSETS 9,998,111 9,873.127 8,290,332 L I A B I L I T I ES F. R. notes in actual circulation 3,1+26,791 3,1*22,831* 3,11*6,596 F. R. bank note circulation - net 30,633 Deposits: Member bank - reserve account . 5,136,13** 5,328,277 3,889,365 U.S.Treasurer - General account 210,1*62 22l+,l*96 27,337 Foreign bank 19,108 18,581 10,57s Other deposits 225.299 167.635 18l*.52l* Total deposits . . . , 5,605,037 5.601,330 *+, 294,929 Deferred availability items 623,209 501,271 1*82,972 Capital paid in 131,5S6 134,046 11*6,671 .Surplus (Section 7) . . . , 1W,893 li*i*,J 138,383 Surplus (Section 13 b) . . , 23.161* 23. Reserve for contingencies , 30,691* 30,77s 22,1*1*7 All other liabilities . . 12.737 1}+,311 . 27,701 TOTAL LIABILITIES 9,99S,lll 9,873.127 8,290,332 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 75.2$ 75.1# 70.( Contingent liability on bills purchased for foreign correspondents 599 Commitments to mako industrial advances 26,837 26,538 686 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAMS OH SEPTEMBER 18, 1935 (In thousands of dollars) B-gQTb A S S E TS Total Boston Hew 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 6,551,132 W+,182 2,682,1+02 370,833 H6l,835 210,S6l 153.098 1,235,255 186,229 132,627 187,303 100,789 385.718 Redemption fund - P. R. notes 20,503 3,1*55 .1,593 1,821 1,215 1.^0 2,958 1,299 991 1*1+0 1,024 794 3.^33 Other cash 218,Ckg 30,952 Hg,021 29,55^ 11,088 8,81+0 8,1+8*+ 25,592 10,823 H.558 12,015 6,315 lH,g06 Total reserves 6,7g9,6S3 1+78,589 2,732,016 1+02,208 1+7*+, 138 221,181 l6U,5^0 1,262,ikS 198,0^3 lW+,625 200,31+2 107,898 1+03,957 Bills discounted: Secured "by U.S.Govt. obligations, direct and/or fully guaranteed l+,703 1,110 2*150 1+99 ll+g 2l+2 — 15 10I+ 5 165 137 128 Other tills discounted %335 9 3.990 52 22 63 117 — 9 58 97 1+91 27 Total bills discounted 9,638 1,H9 6,li+o 551 170 305 117 15 113 63 262 628 155 Bills bought in open market l+,682 3^5 1,800 kjk 1+1+5 173 169 556 80 61+ 126 122 328 Industrial advances 30,230 2,855 7.310 1+.301 1,769 ^.579 1,01+1 1.998 1+55 2.158 1,132 1,822 810 IT. S. Government securities: Bonds 238.978 ll+,l+25 79.866 16,31+8 19,070 10,209 8,260 25,623 9,1+20 12.993 99..5511^^ 15.815 1177..^^3355 Treasury notes 1,692,227 110,618 519.712 l:2 l+,655 ]L 53.631 82,21+1+ 66,381+ 21+7,626 76,391 1+8,510 75.157 U6,8i+l 11+0,1*58 Certificates and bills 499,068 32,631+ 1V+.739 36,117 45.321+ 2l+,263 19,585 82,1+1+0 22,389 li+,ll+7 22,173 13.819 1+1,1*38 Total U.S.Govt. securities 2,^30,273 157,677 7^.317 :1 77,120 218,025 116,716 9l+,229 355,689 108,200 75,650 106,81*1+ 76,1+75 199.331 Total bills and securities 2,1*71+,823 161,996 759.567 1:8 2,¥+6 220,1+09 121,773 95,556 358,258 108,81+8 77,935 108,361+ 79.01+7 200,621+ Due from foreign banks 61+3 1+8 258 66 61 21+ ?? 77 1+ 3 17 17 P. R. notes of other banks 20,369 332 6,953 606 1,381+ 1,203 1,161+ 2,^76 1,61+0 7ll+ l,2*+2 i+iq 2,236 Uncollected items 619,461 60,612 167,216 1+7,865 52,135 52,308 20,05s 83.075 25.536 18,290 36,1^3 21,904 3U,019 Bank premises 50,071 3,168 12.029 l+,7li 6,632 3,028 2,331 I+,96O 2,628 1.580 3,iA+9 1,686 3,869 All other assets 1+3,061 561+ 29,1+60 1+.1+01 2.727 1,172 l,6ll 693 272 538 332 831+ 1+57 TOTAL ASSETS 9,998,111 705,309 3,707,*+99 61+2,303 757,1*86 1+00,689 285,283 1,711,685 336,971 21+3,685 350,189 211,805 61+5,207 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON SEPTEMBER 12, 1935 (in thousands of dollars) B-gOlc L I A B I L I T I ES Total Boston New York Phila. Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,426,791 295.643 736,106 248,251 333,510 165,18U l4l,386 808,600 1^5,876 103,962 130,U31 61,709 256,133 Deposits: Member bank - reserve account 5,136,134 296,012 2,433,590 248,699 326,611+ 158,700 103.973 742,178 138,778 101,499 171,361+ 101+.757 309,970 U.S.Treasurer - General account 224,496 24,549 123,660 5,277 10,570 8,335 2,166 25,836 7.560 4,369 1,691+ 1.507 8,973 Foreign bank 19,108 1,356 7,20; 1,86' 1,790 697 67s 2,185 565 452 506 490 1,319 Other deposits 225,299 2,034 117,49 59,6s: 1,890 2,830 3,736 3,880 7,576 6,507 %5 Total deposits 5,605,037 323,951 2,681,949 315,525 340,864 170,562 110,553 774,079 154,479 112,827 174,059 114,298 331.^91 Deferred availability items 623,209 61,535 166,775 46,916 52,010 50,110 19,937 86,466 26,397 18,027 35.986 25,174 33.876 Capital paid in 131,586 9,509 51,087 12,440 12,357 4,679 4,176 12,184 3,7^7 3.012 3,926 4,011 1100,,445588 Surplus (Section 7) 144,893 9,902 49,964 13,470 14,371 5,186 5,540 21,350 4,655 3.420 3.613 3.777 99,,664455 Surplus (Section 13 b) 23,164 2,874 6,957 2,09s 1,007 33..333355 754 1,391 547 1,003 1,142 1,252 804 Reserve for contingencies 30,694 1,648 7,500 2,995 3,000 11,,441111 2,517 5.325 891 1.169 832 1,363 2,043 All other liabilities 12,737 247 7,161 60S 367 222 420 2,290 379 265 200 221 357 TOTAL LIABILITIES 9,998,111 705,309 3,707,^99 61+2,303 757,486 400,689 285,283 1,711,685 336,971 243,685 350,189 211,805 645,207 Ratio of total reserves to deposit and F.R. note liabilities combined 75.2 77.2 79*9 11*3 70.3 65.9 65.3 79.7 65.9 66.7 65.S 61.3 68.7 Commitments to make industrial advances 26,837 3,421 9,899 991 1,764 1,851 600 520 1,906 149 1,174 428 4,134 MATURITY DISTRIBUTION OF BILIS AUD SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 9,638 7,887 332 1,233 129 56 1 Bills bought in open market 4,682 1,643 499 1,452 1,083 Industrial advances 30,230 1,556 1.317 505 645 2,315 23,892 U.S.Government securities 2,430,273 30,800 27,512 47,360 132,923 215.695 1.975,983 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON SEPTEMBER 18, 1935 (In thousands of dollars) B-801d Total Bfoston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Oy. Dallas San Fran, ral Reserve notes: Tied to F.R.bank by F,R.Age»t 3,718,559 328,062' Sl+5,773 260,562 31+8,886 17U.089 159,87U Sl+0,229 152,557 107,933 l1+l,02l+ 68,322 291,21+8 d "by Federal Reserve bank: 291,768 32,^19 109,667 12,311 15,376 8,905 1S.U3S 31,629 6,6si 3,971 10,593 6,613 35,115 In actual circulation 3.^26,791 295,6^3 736,106 21+8,251 333,510 165,18U 11+1,336 808,600 11+5,876 103,962 130,1+31 61,709 256,133 .ateral held "by agent as se- -ity for notes issued to bank: iold certificates on hand and due from U. S Treasury 3,569,768 331.617 81+3,706 261,270 336,1+1+0 152,000 113,685 81+2,1+80 133,632 99,500 130,000 61+, 175 261,263 # Jligible paper 8,182 1,119 !+,6s6 551 170 305 117 15 113 63 260 628 155 S. Govt, securities 1^9,1+00 15,000 23,000 50,000 20,000 9,1+00 13,000 i+,ooo 35,000 Total collateral 3.7^7,350 332,736 81+8,392 261,821 351,610 175,305 163,802 81+2,1+95 153,7^5 108,963 li+3,260 68,803 296,Ul8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis