H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STxmms for the psess Released for publication Board of Governors Friday morning, Oct, of the Federal Reserve System not earlier " October 3, 1935* t CONDITIO!? OF FEDEBAL RESERVE BA.IHCS The daily average volume of Federal Reserve bank: credit out staling- during the weelc ended October 2, as reported by the Federal Reserve banks was $2,^0,000,000, f m increase of $3t000 000 conxpared with the preceding week and of $20,000,000 cori*f pared with the corresponding we el: in 193^* On October 2 total Reserve bank credit mounted to $2,^70,000,000, a decrease of $4*000,000 for the week* This decrease corresponds rath a decrease of $12,000,000 in member bank reserve balances and increases of $117,000 000 in f monotary gold stock and $17,000,000 in Treasury and national bank curroncy, offset in part by increases of $$2,000,000 in money in circulation, $36,000,000 in Treasury cash and deposits with Federal Reserve banks, and $^5,000,000 in nonneniber deposits and other Federal Reserve accounts• Member bank reserve balances on October 2 were estimated to be approximately $2,600,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $9,000,000 in holdings of United States Treasury bills v/as offset by a decrease of $9,000 000 in United States f Treasury notes* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended October 2, 19351 as follows: Increase of decrease since Oct* 2 Sept. 25 Oct 3 # (In millions of dollars) Bills discounted 10 -5 Bills bought 5 -1 U. S, Government securities 22,,443300 -1 Industrial advances (not including 27 million coranitnents - October 2) 30 +23 Other Reserve bank credit -6 -5 .-7 TOTAL RESERVE BANK CREDIT 2,1+70 -4 +15 Monetary gold stock 9 ,4i4 +117 +1,434 Treasury and national bank currency 2,399 +17 '-3 Money in circulation 5,6sg +62 +220 Member bank reserve balances 5,224 -12 +1, 32f9 Treasury cash and deposits v/ith F.R.banks 2,Sl4 +36 -"254 Nonraenber deposits and other F.R. accounts 557 +45 +l46 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning October H 1935"» not earlier. B-SOla t t ASSETS AND LIABILITIES OF THE TWELVED FEBEBAL RESERVE BA11KS COMBINED (In thousands of dollars) Oct, 2 19^ Sept. 25.1935 Oct. 3.1934 t A S S E TS Ck)ld certificates on hand and due from 6,634,653 6,551,132 4,953,544 U. S. Treasury • 20,031 21,798 Be&emption fund - notes , • . • 19,660 # 223.535 211.449 Other cash • 206.946 Total reserves • « » » , • • • »• 6,861,259 6,79^.7^8 5,191,791 2,186 Redemption fund - F. R. fearilc notes . « • — Bills discounted: Secured Tjy U.S.GovH. obligations, direct *4,s6o 4,806 and/or fully guaranteed • 5.311 •4.637 10,451 Other "bills discounted . . Total bills discounted 10,1+39 9,5^7 15,257 Bills bought in open market 4,639 4,633 5,810 Industrial advances . . . • 30,070 30,132 2,467 U S. Government securities: # Bonds • . 233,962 233,946 396,564 Treasury notes • 1.679,569 1,637,969 1,419,213 503,231 615.383 Certificates and bills • , 511.631 Total U«S« Government securities 2,430,212 2,430,196 2,431,165 305 Other securities • —— Total bills and securities # . . 2,475^60 2,474,563 2,455,004 Due from foreign banlcs. • 63s 63s 1,319 F; R. notes of other banks. . . . . .. 22,564 22,119 13,733 Uncollected items 5^2,725 507,143 479,511 Bank premises 50,074 50,0?]* All other assets. • * « « • , • • • •< 42.492 42,473 54,024 TOTAL ASSETS 9.995.212 9,391,75s 8,255,^56 L I A B I L I T I ES F. R. notes in actual circulation 3,481,907 3,430,16s 3,175,67^ 3P. B. bank note circulation - net — 30,194 Deposits: Member bank - reserve account . 5,223,616 5,235,730 3.S94.632 U.S.Treasurer - General account 90,341 13:2,231 156,337 Foreign batik . . . . . . . .. 14,637 21,451 9,^76 Other deposits. . . . . . . .. 291,675. 240.109 172,933, Total deposits . . . . .. 5,620,319 5,609,521 Deferred availability items , . , 5^9,267 50S,593 430,370 Capital paid in 130,522 130,931 146,798 Surplus (Section 7) , 144,393 144,393 13S,3S3 Surplus (Section 13b) 23,^57 23,164 30,694 22,444 Reserve for contingencies . . .. 30,694 All other liabilities . . . . .. 23.165 13,653 13,79^ TOTAL LIABILITIES . . . 9.S91.75S s,255,^56 9,995,212 Ratio of total reserves to deposit and F. R. note liabilities combined ... 70.1* Contingent liability on bills purchased 75*4$ 75.2$ for foreign correspondents . . . . .. 690 Commitments to make industrial advances 26,740 26,392 1,633 •Revised Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AUD LIABILITIES OF TEE FEDERAL RESERVE BANKS OH OCTOBER 2, 1935 , (In thousands of dollars) B-SOlb 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 6,63^653 *U5.763 2,802,571 376,353 >+53,818 212,305 15M05 1.187.780 198,524 131,804 186,899 105,709 4l6,U22 Redemption fund - P. R. notes 19,660 3,368 1.315 1.722 1,088 1,581 2,898 1,153 858 ^25 1*00U 774 3,374 Other cash 206,946 28,575 ^>357 28,817 11*300 8,764 8,203 24,338 10,1*28 10,649 12,687 5.983 12 £U5 Total reserves 6,861,259 447,706 2,848,243 406,892 466,206 222,650 165,806 1,213,271 201,910 142,8?8 200,590 112,U66 432 t ,641 Bills discounted: Secured "by U.S.Govt, obligations, direct and/or*fully guaranteed 5.3H 893 3,236 264 2U5 226 U7 10 69 459 97 124 95 Other bills discounted 5.178 9 4,350 l4 22 50 31 9 151 447 46 Total "bills discoxmted 10,489 902 7,586 278 267 276 78 10 78 5U 248 571 l4l ""Bills "boxight in open market U,b89 345 1,804 U75 445 173 169 557 80 64 127 122 328 Industrial advances 30,070 2,855 7.303 M te i,75i 4,478 1,088 1.906 U5U 2,151 1,10b 1,818 818 U. S. Government securities: Bonds 238,962 14,425 79,866 16,34s 19.069 10,209 8,250 25,623 9,420 12,988 9v5l*+ 15.815 17,435 Treasury notes 1.679,569 109,727 516,181 123,670.152,391* 81,5*1 65,850 245,964 75,780 43,079 7>+,552 46,464 139,327 Certificates and "bills 511,b£l 33.525 11+8,270 37,102 46.561 24,926 20,119 84>102 23.000 1^,533 22,778 14,196 42,569 Total U.S. Govt, securities 2,1*30,212 157,677 744,317 177,120 218,024 Ii6,7l6 9^.219 355,689 10S.200 75,600 io6 844 76,475 199,331 v Total bills and securities 2,475,460 l6l,779 761,010 182,215 220,487 121,643 95,55^ 358,162 108,812 77,869 108,325 78,986 200.618 ^ : : : r~ • 63s us 254 66 61 21+ 23 77 u 3 17 16 45 Due from foreign banks F. R. notes of other banks 22,564 339 7,630 831 1,508 1,877 2,960 1,237 660 1,978 3^3 2,287 Uncollected items 542,725 60,503 129,5^1 44,719 5l,9H 47,757 17,265 71.333 24,007 17,338 31,777 19.299 26,750 Bank premises 50,074 3,168 12,029 4,711 6,632 3,028 2,331 M 63 2,628 1,580 3,^9 1.686 3.669 All other assets 42,492 5^8 30,277 ^336 1,571 1,123 1.581 671 282 461 318 842 462 9,995,212 674,091 3,789.004 643,770 7^8,376 398,102 283,W 1,651.9^2 338.880 24o,so9 3^6,494 313.638 666,672 TOTAL ASSETS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 2, 1935 (In thousands of dollars) B-SOlc 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, F.R.notes in actual circulation 3,1*81,907 299,979 757,254 250,888 330,937 168,492 11+6,1+97 813,026 148,145 106,629 13^,115 64,322 261,573 Deposits: Member bank — reserve accotint 5,223,616 276,560 2,588,073 251,277 323,593 160,563 101,324 711,570 145,654 95,762 167,083 101,931 300,226 U.S.Treasurer - General account 90 f Ski 9,950 32,161 4,931 6,588 3,855 1,381 4,628 2,467 ^.913 2,651 3,184 l4,i32 Foreign bank 14,687 989 6,011 1,359 1,305 508 494 1,593 412 330 368 357 96l Other deposits 291,675 2,290 150,576 61,524 2,205 2,o44 3,689 3,776 7,79*1 6,544 412 11,951 38,870 Total deposits 5,620,819 289,789 2,776,821 319,091 333,691 166,970 106,888 ?a»567 156,327 107,549 170,514 117,423 35^,189 Deferred availability items 5^9,267 60,218 131,198 42,346 52,601 16,731 7^,916 24,198 17,810 32,150 21,387 27,835 Capital paid in 130,522 9,431 12,307 12,320 4,6oi 4,l6S 12,077 3,739 2,984 3,894 3,796 10,207 Surplus (Section j) 144,893 9,902 49^964 13,470 14,371 5,186 5.5*K> 21,350 4,& 3,420 3,613 3,777 Surplus (Section 13 b) 23,457 2,874 7,250 2,09s 1,007 3,335 754 1,391 1,003 1,142 1,252 Reserve for contingencies 30,694 1,64s 7,500 2,995 3,000 l,4n 2,517 5,325 891 1.169 832 1,363 2,043 All other liabilities 13,653 250 8,019 575 399 230 379 2,290 378 245 194 318 376 9,995,212 643,770 1,651,9^ 338,880 213,63s 666,672 TOTAL LIABILITIES 674,091 3,789,004 7^8,376 398,102 283,474 2iK),S09 346,454 Ratio of total reserves to deposit and F.R. note liabilities combined 75.4 75.9 80.6 71.* 70.1 66.4 65.4 79-1 66.3 66.7 65.S 61.9 70.3 Commitments to malce industrial advances 26,748 3,402 9.668 862 1,754 1,874 502 519 1,97^ 143 1,171 598 4,281 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 S months 6 months Bills discounted 10,489 S,4l6 380 761 845 86 Bills bought in open market 4,689 T ). T )| T )| 1,%5 653 2,157 Industrial advances 30,070 2,697 362 ^02 645 2,532 23,432 U.S.Government securities 2,430,212 31,557 35.560 50,860 163,310 188,922 1,960,023 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEBA.L RESERVE NOTE STATEMENT ON OCTOBER 2, 1935 (In thousands of dollars) B-SOld Total Boston Hew York Fhila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: issued to F.R.bank "by F.RJigent J,75S,512 327,329 863,149 262,97s 3^,905 173,453 164,^69 840,562 154,691 110,491 i4i,200 69,578 296,707 Eeld by Federal Reserve bank 276,605 27,350 105,595 12,090 17,913 9,96l 17,972 27,536 6,546 3,862 7,085 5,256 35,134 in actual circulation 3,481,907 299,979 757,254 250,888 330,987 168,492 146,497 813,026 i4s,l45 106,629 13^,115 64,322 261,573 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from u. s. Treasury 3,620,538 331,617 863,706 262,930 333,44o 156,000 113,685 856,640 134,632 101,500 126,000 64,175276,263 Eligible paper 9,026 902 6,133 278 267 276 78 10 JS 53 246 564 l4l U. S. Govt, securities 173,900 -» — — 20,000 23,000 55,000 — 21,000 9,400 16,000 5,500 24,000 Total collateral 3,803,514 332,519 S69,839 263,208 353,707 179,276 168,763 856,650155,710 110,953 142,246 70,239 300,^4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis