H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATMMT FOR THE PRESS Released for publication Board of Governors Friday morning, Oct # IS; of the Federal Reserve System not earlier. October 17, 1935 COTDITI01T OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve "bank credit outstanding during the weelc ended October lb, as reported by the Federal Reserve banks, was $2,^9,000,000, an increase of $9,000,000 compared with the preceding week and of $32,000,000 compared with the corresponding week in 193*+• On October lo total Reserve bank credit amounted to $2,H96,000,000, an increase of $18,000,000 for the week* This increase corresponds with an increase of ,000,000 in member bank reserve balances, offset in part by increases of $121,000,000 in monetary gold stock and $8,000,000 in Treasury and national bank currency and decreases of $2,000,000 in money in circulation, $5^,000,000 in Treasury cash and deposits with Federal Reserve banks and $2,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on October 16 were estimated to be approximately $2,910,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase o*f $5,000,000 in holdings of United States Treasury bills was offset by a decrease of $5,000,000 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 October l6 1935» were as follows: f Increase or decrease since Oct* 16 Oct. 9 Oct. 17 (In millions of dollars) Bills discounted 9 a -3 Bills botight -1 U. S. Government securities 2,^30 Industrial advances (not including 27 million commitments - October l6) 32 -1 Other Reserve bank credit 20 +19 TOTAL RESERVE BAM CBEDIT 2,^96 +18 Monetary gold stock +121 Treasury and. national bank currency +8 Money in circulation 5,696 -2 +227 Member bank reserve balances 5,53^ +204 +1,538 Treasury cash and. deposits with F, P.. banks 2,693 -275 Nonmember deposits and other P. R. accounts 561 -2 +139 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication fridasy morning, October IS* 1935; 110* B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Oct. 16.1935 Oct. 9.1935 Oct. 17. 1934 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . . .. 6,898,648 6,725,656 4,965,342 Redemption fund - P. R. notes 18,470 19,250 22,019 Other cash 218.896 207.251 215.803 Total reserves 7,136,014 6,952,157 5,203,164 ledemption fund - F. R. baaals: notes . .. — — 2,215 Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed . . . 4,779 4,150 4,624 Other bills discounted 4,64$ 5.437 7,088 Total bills discounted . i . . .. 9,425 9.587 11,712 Bills bought in open market . i . . . * S79 4,686 6.177 Industrial advances . .. . . . . . .. 32*477 32.7&1 4,576 U. S. Government securities: Bonds 23S,939 233,954 395,673 Treasury notes 1,632,121 1,636,574 l,4ll,706 Certificates and bills 559,128 554,681 6g2gg6 t Total U. S. Government securities 2,430,188 2,430,209 2,430,265 Other securities 181 181 302 Total bills and securities . . .. 2,476,950 2,477,384 2,453,032 Due from foreign banks 646 639 1,071 F. R. notes of other banks 21,646 21,864 21,164 Uncollected items 770,l6l 475,590 591,73^ Bank premises 50,169 50,121 52,931 All other assets 39.928 44.254 44.887 TOTAL ASSETS 10,495,514 10,022,009 8,370,202 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,504,558 3,49g,7S9 3,182,329 F. R. bank note circulation - net . .. — — 29,425 Deposits: Member bank - reserve account . . . . 5,534,326 5,329,207 3,996,276 U.S. Treasurer - General account . .. ' 53,994 60,327 53,194 Foreign bank 22,919 14,826 7,129 Other deposits . . .. 2S4.4l4 298.059 176.289 Total deposits 5,295,653 5,703,019 4,232,888 Deferred availability items 751,329 475,791 522,695 Capital paid in 130,355 130,51g 146,755 Surplus (Section 7) 144,893 144,893 132,323 Surplus (Section 13 b) 23,457 23,457 Reserve for contingencies 30,697 30,694 22,290 All other liabilities 14.512 l4,g4g 29.437 TOTAL LIABILITIES 10,495,514 10,022,009 8,370,202 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 75.9$ 75.6$ 70.2$ Contingent liability on bills purchased for foreign correspondents — — 516 Commitments to make industrial advances 26,791 26,859 2,182 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BANKS Oil OCTOBER l6, 1935 (In thousands of dollars) 3-801b A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 6,898,648 443,101 2,845,048 401,556 460,358 219,71*+ 158,792 1,202,650 216,924 140,157 190,409 113,201 1*26,672 Redemption fund - F. R. notes 18,470 3,315 1,0^9 1,652 994 1,172 2,209 1,0% 921 U13 923 756 3,350 Other cash 212,296 28,727 46,202 29,08*+ 12,731 9,442 9,874 26,952 10,852 10,264 13,50s 6,471 lU,777 Total reserves 7,136,01*1 475,143 2,g92,305 432,298 474,083 230,32g 171,481 1,310,650 22SJ63 150,834 204,900 120,430 444,799 Bills discounted: Secured "by U.S.Govt, obligations, direct and/or fully guaranteed *+,779 705 3,201+ 213 135 147 50 4 5 135 106 75 Other bills discounted 4,646 9 3,520 13 21 60 23 — — 59 492 46 Total hills discounted 71I+ 6,721+ 226 156 207 73 — 4 64 627 449 121 9 M5 Bills bought in open marlcet 4,679 3U5 1,794 475 445 173 169 557 80 64 127 122 328 Industrial advances 32,477 2,870 7,3*+6 6,922 1,783 M73 1,021 1,893 ^33 1, S52 1,119 1,826 887799 U. S. Government securities: * Bonds 238,939 14,426 79,866 16,342 19,070 10,209 2,243 25,623 9,420 12,9 70 9,514 15,815 17,^35 Treasury notes 1,632,121 108,268 1+23,601 122,056 150,369 80,492 64,975 243,244 7^,779 447 73,561 45,847 :1 37,^76 Certificates and bills 559,122 34,983 180,850 32,716 48,526 26,009 20,934 86,222 24,001 15, 165 23,769 14,813 44,420 Total U.S. Govt, securities 2,1+30,182 157,677 744,317 177,120 218,025 116,716 94,212 355,629 108,200 75,5 82 106,844 76,475 : 1 99,331 Other securities 181 — — — — — — — __ — lgl — Total bills and securities 2,^76,950 161,606 760,241 124,743 220,409 121,569 95,535 352,139 :1 08,717 77, 562 102,292 78,872 ;2 00,659 Due from foreign banks 61+6 1+8 263 66 60 24 77 4 3 17 16 45 F. R. notes of other banks 21,61+6 356 7,123 924 1.552 1,824 1,1921>4 2,73^ 1,817 672 1,702 4oo 1,222 Uncollected items 770,161 72,752 199,390 62,737 72,426 61,827 25,3^2 109,433 31,957 20,6 55 37,796 29,356 40,434 Bank premises 50,169 3,168 12,077 4,75^ 6,632 3,028 2,331 4,967 2,628 V 580 3,449 i,6s6 3,869 All other assets 39,928 531 26,930 4,035 2,702 1,131 1,592 571 220 467 322 912 443 10,495,514 719,6o4 3,892,389 629,557 777,S6U 1+19,731 297,504 1,726,621 37^,166 251,773 357,096 231,67s 691,531 TOTAL ASSETS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BA1IKS OH OCTOBER lS, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, P.P..notes in actual circulation 3, 50U.55S 300,osi 757,995 255,212 330,673 173,723 1^9,528 812,883 150,716 106,570 131^,101 66,912 266.10U Deposits: Member bank - reserve account 5, 53^,326 309,090 2,61+3,996 270,152 335,336 167,0631 05,569 811,882 167,088 103,1+06 171,066 109,176 335,502 U.S.Treasurer - General account 53,99!+ 3,13s l6,ll+S U,i21 2,556 9S7 1,331 6,317 2,999 2,2^2 1,897 2,37^ 9,SSl+ Foreign bank 22,919 1,650 2,1+36 2,269 2,172 si+s S25 2,659 688 550 6l6 596 1,60U Other deoosits 3,975 155.00S 67,813 3,652 2,1+1+0 3,667 2,932 5,806 1,1+06 10,035 17,116 Total deposits 5,295,653 317,853 2,223,528 3^,355 3^3,722 171,332 111,392 825,1+22 179,707 117,001+ 17^,925 122*1813 6i+,io6 Deferred availability items 751,329 77.528 192,526 52,711 72,303 59,298 23,129 105,755 33,503 19,25s 32,309 32,182 38,227 Capital paid in 130,355 9,^35 50,93^ 12,302 12,327 ^,592 1+.171 12,015 3,731 3,002 3,27^ 3,771 10,201 Surplus (Section 7) 14l+,893 9,902 1+9,961+ 13,^70 li+,37l 5,186 5,51+0 21,350 i+,655 3,1+20 3,613 3,777 9,61+5 Surplus (Section 13 b) 23,^57 2,871+ 7,250 2,09s 1,007 3,335 75*+ 1,391 51+7 1,003 l,ll+2 1,252 804 Reserve for contingencies 30,697 1,61+8 7,500 2,995 3,000 1,1+11 2,517 5,325 S91 1,169 832 1,363 2,01+6 All other liabilities 1^,512 283 8,632 1+61 2U8 353 2,1+80 1+16 3^7 240 2U0 398 h ik TOTAL LIABILITIES 10,1+95,511+ 719,601+ 3,892,389 689,557 777,261+ 1+19,731 297,50*+ 1,786,621 37M66 251,773 357,096 231,678 691,531 Ratio of total reserves to deposit and P. R. note liabilities combined 75.9 76.9 80.8 72.1 70.3 66.7 65.7 20.0 69.2 67.5 66.3 63.7 70.6 Commitments to make industrial advances 26,791 3,338 9,527 863 1,828 1,869 501 529 1,977 1^1 1.303 592 l+,257 MATURITY DISTRIBUTION C® BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 9,^25 7,22l+ 273 67O 870 325 3 Bills bought in open market 1+.679 3,221 109 1,065 28l+ Industrial advances 32,^77 1,76U 319 508 712 2,660 26,511+ U. S. Government securities 2,1+30,18S 35,560 27,500 132,223 61+, 267 37M03 1,795,235 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEBA.L RESERVE NOTE STATEMENT OIT OCTOBER lb, 1935 (In thousands of dollars) B~801d Total Boston ITev/ York Pliila. Cleve. Rich. Atlanta CMcago St.Louis Kinn. Kans.Cy. Dallas San Fran. Federal Reserve notes Issued to F.R.bank by F.R.Agent 3.799,535 330,^9 867,2^8 267,656 3^,931 182,53^ 168,850 8^6,780 157,07^ 111,673 1^2,872 72,419 303,044 Held by Federal Reserve bank 294,977 30.368 109,253 12,444 18,258 8,811 19,262 33,897 6,35s 5,108 8,771 5,507 36,940 in actual circulation 3,504,558 300,081 757,395 255,212 330,673 173,723 iUq,58S 812,883 150,716 106,570 134,101 66,912 266,104 Collateral held by ajont as security for notes issued to bank: Gold certificates 011 hand and due from U. S. Treasury 3,691,018 336,6lJ 863,706 26s,000 331,440 164,000 118,685 861,000 153,632 105,500 126,000 71,175 291,263 Eligible paper 7,970 714 5,332 226 156 207 73 — 4 62 626 449 121 U. S. Govt, securities 139,000 — 20,000 20,000 52,000 — 5,000 7,000 18,000 2,000 15,000 Total collateral 3.S37.9SS 337,331 869,03s 268,226 351,596 184,207 170,753 s6i,ooo 158,636 112,562 144,626 73,624 306,384 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis