H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PEESS Released for publication Board of Governors Friday morning, Sept* 27; of the Federal Reserve System not earlier * September 26, 1935 • CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended September 25, as reported "by the Federal Reserve banks, was $2,1+77#000,000, a decrease of $S,000,000 compared with the preceding week and an increase of $13,000,000 compared with the corresponding week in 193^* On September 25 total Reserve bank credit amounted to $2,47^,000,000, an increase of $2,000,000 for the week* This increase corresponds with increases of $100,000,000 in member bank reserve balances and $13,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $8,000,000 in Treasiary and national bank currency, offset in part by an increase of $57>°00t0°0 in monetary gold stock and decreases of $6,000,000 in money in circulation and $61,000,000 in Treasury cash and deposits with Federal Reserve banks* Member bank reserve balances on September 25 were estimated to be approximately $2,620,000,000 in excess of legal requirements t Relatively small changes were reported in holdings of discountod and purchased bills and industrial advances* An increase of $4,000,000 in holdings of United States Treasury bills was offset by a decrease of $4,000,000 in United States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 25* 1935» WGre as follows: Increase or decrease since Sept. 25 Sept. IS Sept. 26 19?? 19ft (in millions of dollars) Bills discounted 10 •^10 Bills bought 5 -1 U. S. Government securities 2,1+30 Industrial advances (not including 27 million commitments - September 25) 30 +28 Other Reserve bank credit -1 +2 -6 TOTAL RESERVE BANK CREDIT 2,1+7^ +2 +11 Monetary gold stock 9»297 +57 +1,321 Treasury and national bank currency 2,382 -S -27 Money in circulation 5,626 -6 +223 Member bank reserve balances 5*236 +100 +1,266 Treasury cash and deposits with E.R.banks 2,778 -61 -283 Honmember deposits and other F.R, accounts 512 +18 +97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 27,1935"»n°t earlier. B-SOla ASSETS A1TD LIABILITIES OP THE TVffiLVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Sept. 25.1935 Sept. 18,1935 Sept. 26.1934 A S S E TS Gold certificates on hand and due from U. S. Treasury 6,551,132 6,551,132 4,953,007 Redemption fund - F. R. notes . . .. 20,031 20,503 22,298 Other cash 223.585 218.OUg 236.651 Total reserves » , , . . .. 6,794,748 6,789,683 5,216,956 Redemption fund - F. R. "bank notes 1,829 Bills disco-anted: Sccured by U.S.Gov't obligations, direct and/or fully guaranteed . . .. 4,890 4,703 5,395 Other bills discounted 4.657 4,935 14.919 Total bills discounted . . . 20,314 9,547 9,638 Bills bought in open market . . .. 4,688 4,682 5,812 Industrial advances 30,132 30,230 1,961 U. S. Government securities: Bonds . . . . . . . . . . . . .. 238,946 238,97s 395,541 Treasury notes 1,687,969 1,692,227 1,421,720 Certificates and bills 503.281 499,068 612.872 Total U.S. Government securities 2,430,196 2,430,273 2,430,133 Other securities 321 Total bills and securities 2,474,563 2,474,823 2,458,547 Due from foreign banks . . .. 638 643 1,819 F. R. notes of other barks . . 22,119 20,369 22,488 Uncollected items . . 507.143 619,461 433,443 Bank premises 50,074 50,071 52,821 All other assets 42.473 43.061 53,642 TOTAL ASSETS 9.S91.75S 9,998,111 8,241,545 L I A B I L I T I ES F. R. notes in actual circulation 3,430,16s 3,426,791 3,134,973 F. R. bank note circulation - net 30,479 Deposits: Member bank - reserve account . 5.235,730 5.136,134 3,969,517 U.S.Treasurer - General account 112,231 224,496 154,512 Foreign bank 21,451 19,10s 9,740 Other deposits 240.109 225.299 175,920, Total deposits . , 5,609,521 5,605,037 4,309,689 Deferred availability items 508,593 623,209 430,714 Capital paid in . . . .. 130,931 131,586 146,752 Surplus (Section 7) . .. 144,893 144,893 138,383 Surplus (Section 1 3 b ) .. 23,164 23,164 Reserve for contingencies 30,694 30,694 22,446 All other liabilities . . 13,794 12.737 28.109 TOTAL LIABILITIES 8,241,545 9.S91.75S 9,998,111 Ratio of total reserves to deposit and F. R. note liabilities combined . . 70.1^ Contingent liability on bills purchased 75.2$ 75.2# for foreign correspondents . . .. 753 Commitments to make industrial advances 26,892 *26,S4O 756 •Revised figure. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 25, 1935 (In thousands of dollars) B-SOlb A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Gold certificates on hand and due from u. s. Treasury 6,551,132 5+28,136 2,690,439 363,580 500,164 210,286 150,347 1,217,182 191,073 133,426 186,545 101,01+1 378,863 Redemption fund - F. R. notes 20,031 3,431 1,1+95 1,782 1,179 1,296 2,939 1,261+ s 1+31+ 1,017 789 3,l+23 9 2 other cash 223,585 30.594 49,95s 29,896 10,986 9,523 9,017 25,909 ll,3*+5 11,162 12,865 5,971 16,359 Total reserves 6,794,748 462,l6l 2,71+l,91+2 395,258 512,329 221,105 162,303 l,2l+l+,355 203,400 ll+5,022 200,1+27 107,301 398,61+5 Bills discounted: direct and/or fully guaranteed 4,890 811 2,807 349 108 217 12 ii' ' I89 5 179 108 105 Other "bills discounted 4,657 9 3,881 39 22 — 31 — 9 56 133 437 40 Total bills discounted 9,5^7 820 6,6SS J " o 7 a 0 C 130 217 43 198 61 312 545 145 Bills bought in open market l+,688 345 1,806 474 445 173 169 556 80 64 126 122 328 Industrial advances 30,132 2,855 7,278 4,315 1,768 4,573 1,038 1,920 455 2,166 1,125 1,820 819 U. S. Government securities: Bonds 238,946 14,425 79,866 16,348 19,069 10,209 88,,224455 2255,,662233 9,420 12,977 99,,551144 15,815 1177,,443355 Treasury notes 1,687,969 110,320 518,532 124,326 153,218 82,022 66,206 247,071 76,187 48,336 74,955 46,715 140,081 Certificates and bills 503,281 32,932 145,919 36,446 45,737 24,485 19,763 82,995 22,593 14,276 22,375 13.945 4I,815 Total U.S. Govt, securities 2,430,196 157,677 744,317 177,120 218,024 116,716 94,214 355,689 108,200 75,589 106,844 76,475 :1 99,331 Total bills and securities 2,474,563 11 61,697 760,089 182,297 220,367 121,679 95,464 358,165 108,933 77,880 108,407 78,962 200,623 Due from foreign banks 63s 48 . 253 66 61 24 23 4 3 17 17 45 F. R„ notes of other banks 22,119 330 6,967 613 1,652 2,057 1,145 2,637 1,295 1,211 1,717 304 2,193 Uncollected items 507,143 52,269 121,772 3,6,722 50,674 43,703 16,490 68,849 21,450 16,768 31,369 18,445 28,632 Bank premises 50,074 3,168 12,029 4,711 6,632 3,028 2,331 4,963 2,628 1,580 3,449 1,686 3.869 All other assets 42,473 564 30,024 4,353 1,701 1,172 1,602 688 269 479 347 831 443 TOTAL ASSETS 9,89l,75S 6*50,237 3,673,076 62!+,020 793,4l6 392,76g 279,358 1,679,73*+ 337,979 242,343 345,733 20S,0i+6 634,1+1+8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 25, 1935 (In thousands of dollars) B~201c L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 3,1+30,168 296,21+0 735»56i 21+9,252 336,^53 i6U,25i 11+2,792 808,050 11+5,617 103,880 130,31+2 62,355 25M75 F.R.notes in actual circulation Deposits: 292,81+6 2,1+97,^80 237,923 369,103 161,37*+ 100,927 7^7»7°2 1^9,229 102,857 170,759 103,361+ 302,166 Member bank - reserve account 5i235t73° 10,126 63,153 l+,82l+ 2,61+1+ 7,201+ 1,333 1.928 2,92b l,2lU 908 10,652 U.S.Treasurer - General account 112,231 1,53s 7,951 2,115 2,030 790 769 2,1+78 61+1 513 57H 556 1,1+96 Foreign bank 21,1+51 Other deposits 2U0,I09 2,1+19 123,935 63,190 1,218 2,060 3,81+1+ l+,7Ql+ 8,128 6,579 700 9.8Q1+ 13,528 Total deposits 5,609,521 306,929 2,692,519 308,052 37^,995 171,^28 107,373 759,703 159,926 112,875 173,21+7 Hl+,632 327,81+2 Deferred availability items 508,593 52,89s 121,938 3 5,193 50,81+7 1+2,297 15,861+ 69,130 22,186 17,317 31,909 20,386 28,628 Capital paid in 130,931 9,1+75 51,030 12,305 12,320 1+.639 4,171 12,113 3,7*+2 2,993 3,902 i+,oi5 10,226 Surplus (Section 7) ll+l+,! 9,902 1+9,961+ 13,1+70 ll+,37l 5,186 5,5^0 21,350 M 55 3,1+20 3,613 3.777 9,61+5 Surplus (Section 13 b) 23,If 2,871+ 6,957 2,098 1,007 3,335 75^ 1,391 5^7 1,003 l-,ll+2 1,252 80l+ Reserve for contingencies 30,69!+ 1,61+8 7,500 2,995 3,ooo i r Un 2,517 5,325 891 1,169 832 1,363 2,01+3 All other liabilities 13.79*+ 271 7.607 655 1+23 221 3I+7 2.672 1+15 216 2k6_ 2£L— m TOTAL LIABILITIES 9,891,758 680,237 3,673,076 62i+,020 793,^16 392,768 279,358 1,679,73^ 337,979 21+2,91+3 3*+5,733 208,0i+6 631+,1+1+s Eatio of total reserves to deposit and F.R. note liabilities combined 75.2 76.6 80.0 70.9 72.0 65.9 61+.9 79»H 66.6 66.9 65.9 60.9 68.1+ Conmitments to make industrial advances 26,892 3,^19 9,852 907 1,757 1,81+7 605 520 1,91+9 1I+9 1,171 593 k t U8 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 9,5^7 7,508 303 1.325 71 Bills botight in open market l+,688 230 572 2,233 Industrial advances 3°, 132 2,361+ 572 „7 38 2,255 23,739 U.S .Government securities 2,1+30,196 30,600 33,%9 1+8,985 162,180 187,188 1,967,801+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

F3DERAL RESERVE HOTS STATEMENT ON SEPTEMBER 25, 1935 (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.bank by F.R.Agent 3.728,120 326,201 8H6,l64- 262,116 352,121 175,280 l6l,288 8^0,7^5 151,912 108,163 140,068 68,566 295,^36 Held by Federal Reserve bank 297.952 29,961 110,603 12,86U 15,728 11,029 18,^96 32,695 6,295 U,2S3 9,226 6,211 ^0,561 In actual circulation 3.^30,l68 296,240 735,561 2^9,252 336/453 l64-,251 1^2,792 808,050 1^5,617 103,880 130,8^2 62,355 25M75 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3.599.588 331.617 853,706 262,930 3^8,^0 153,000 113,685 850,64-0 136,632 100,500 126,000 61,175 261,26 Eligible paper 8,091 820 5,235 388 130 217 ^3 — 198 6l 310 5H5 iW U. S. Govt. securities 162,900 — — 5,000 23,000 50,000 — 17,000 9,400 16,000 7.500 35.000 Total collateral 3.770,579 332,^37 858,9^1 263,31s 353.570 176,217 163,72s 850,64-0 153.S30 109,961 1^2,310 69,220 296,407 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis