H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT POR THE PBESS Rele&aed for publication Board of Governors Friday morning, Oct. 25; of the Federal Reserve System not earlier. October 2k 1935 f C01TDITI0I OF FEDERAL RESERVE BMES The daily average volume of Federal Reserve batit credit outstanding during the week ended October 23, as reported by the Federal Reserve banks, was ,000,000, a decrease of 000,000 compared with the preceding week, and an increase of $25,000,000 compared with the corresponding week in 133^• On October 23 total Reserve ban!: credit amo-xnted to $2,^72,000,000, a decrease of $24,000,000 for the week. This decrease corresponds with decreases of $12,000,000 in money in circulation and $15,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $^5,000,000 in monetary gold stock, offset in part by an increase of $Ul,000,000 in member bank reserve balances and a decrease of $7,000,000 in Treasury and national bank currency. Member bank reserve balances on October 23 were estimated to be approximately $2,930,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills, industrial advances and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended October 23, 1935> were as follows: Increase or decrease since Oct. 23 Oct. 16 Oct. 2U (In millions of dollars) Bills disco-anted 7 -2 Bills bought 5 — -1 U. S. Government securities 2,430 — — Industrial advances (not including P.] million commitments - October 23) 33 +1 +2S Other Reserve bank: credit -2 -22 -2 TOTAL RESERVE BA1H CREDIT 2.U72 -24 +20 Monetary gold stock 9,629 +45 +1,636 Treasury and national bank currency 2,397 -7 -32 Money in circulation 5,6gl+ -12 +2kS Member batik: reserve balances 5,575 •Ail +1,590 Treasury cash and deposits with F. R. banks 2,693+ +1 . -355 Honmember deposits and otiaer F. R. accounts 5U6 -15 +1U2 (B~gOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 25,1935» not earlier. B-S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Oct. 23,1935 Oct. 16,193,5 Oct. 2l+.193*+ A S S E TS Gold certificates on hand and due from U. S. Treasury 6,979,122 6,898,6US k,967,100 Redemption fund - F. R. notes 18,687 18,1+70 21,932 Other cash 232,392 218.896 227.58*+ Total reserves 7,230,201 7,136,OlU 5,2l6,6l6 Redenption fund - F. R. ban]- notes . .. — — 2,215 Bills discounted: Secured by U.S.Gov't, obligations, direct and/or fully guaranteed . . . 3,^07 779 ^,526 Other bills discounted 3.335 1+.61+6 6.338 Total bills discounted 6,7^2 9,*+25 10,861+ Bills bought in open market ^,676 679 5,993 Industrial advances . . . .. 32,61+0 32,1+77 ^,999 U. S. Government securities: Bonds 238,970 238,939 395,597 Treasury notes 1,630,682 1,632,121 1,411,716 Certificates and bills 560.567 559.128 622.888 Total U. S. Government securities . 2,1+30,219 2,1+30,188 2,1+30,201 Other securities Uil 181 296 Total bills and securities . . .. 2,^7^58 2,1+76,950 2,1+52,35S Due from foreign banks 6Ul 61+6 821 F. R. notes of other banks 22,107 21,61+6 21,000 Uncollected items 5^,379 770,l6l 1+63,801 Bank premises 50,l69 50,169 52,97*+ All other assets 1+0.667 39,928 45.1+58 TOTAL ASSETS 10,362,622 10,1+95,51U 8,255,2^+3 L I AB I L I T I ES F. R. notes in actual circulation . .. 3,50H,806 3,50l+,55S 3,155,512 F. R. ban]: note circulation - net . .. — — 29,123 Deposits: Member bank - reserve account . . .. 5,575,016 5,53^,326 3,985,287 U.S. Treasurer - General account . . . 98,919 53,99^ 118,002 Foreign bank 21,8US 22,919 6,985 Other deposits 269.918 28U.UlU 158.1+17 Total deposits 5,965,701 5,895,653 l+,268,691 Deferred availability items 5^7,197 751,3^9 M-6U,65S Capital paid in 130,395 130,355 lH6,881 Surplus (Section 7) lM-1+,893 lUl+,893 138,383 Surplus (Section 13 b) 23,1+57 23,1+57 Reserve for contingencies 30,698 30,697 22,291 All other liabilities . . . 15.1+15 lH,512 29.70*+ TOTAL LIABILITIES 10,362,622 10,1+95,51*+ 8,295,21+3 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 76.3$ 75»9# 70.3$ Contingent liability on bills purchased for foreign correspondents ....... — 1+9*+ Commitments to make industrial advances 26,91^ 26,791 2,692 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MS LIABILITIES OP THE FEDERAL BESEKVE BAMS OH OCTOBER 23, 1935 (In thousands of dollars) B~80Ib A S S E TS Total Boston Hew York Fhila* Cleve. Rich. Atlanta Chicago St*Louis Minn* Kans*Cy Dallas San Fran. # Gold certificates on hand and due from u. s. Treasury 6,979,122 *+59,263 2,930,387 39^51 ^52,^59 217.21^ 159,^1 1.301,2^7 215,9^8 138,656 19^,7^2 111M5 ^03,819 Redemption fund - F. R. nates 13,687 3,312 1,011 1,610 1,U69 1,167 2,739 1,019 917 ^10 958 7*6 3,329 Other cash 232,392 30,283 52,299 29,888 12,973 I0t563 10*670 28,751 I2 l52 10,216 1^,376 6,976 13,21*5 y Total reserves 7,230,201 ^92,858 2,983,697 ^25,9^9 ^66,901 228,9^ 172,850 1,331,017 229,017 1^9,282 210,076 119,217 ^20,393 Bills discounted: Secured by U.S.Govt. obligations, direct and/or fully guaranteed 3.H07 1*76 2,272 131 30 147 50 4 5 127 60 105 Other bills discoionted 3,335 9 2,215 — 21 60 11 — 59 776 148 36 Total bills discounted 6,7*12 1*85 4,1+87 131 51 207 61 _ 4 64 903 208 l4l Bills bought in open market 4,676 345 1.796 474 445 , 173 168 556 80 63 126 122 328 Industrial advances 32,640 2,868 7,582 6,919 l.7«3 4,466 1,075 1,895 4l3 1,837 1,124 1,819 859 U. S Government securities: # Bonds 232.970 14,425 79,866 16,348 19,069 10,209 8,247 25,623 9,420 12,999 9.514 15,815 17.435 Treasury notes 630,682 108,167 483,198 121,944 150,228 80,422 64,914 243,054 74,710 47,403 73,492 ,803 137,347 Certificates and bills 560,567 35,084 181,253 38,828 48,727 26,085 21,055 87,012 24,070 15,209 23,838 14,857 44,549 Total u. S. Govt, securities 2,^30,219 157*676 7^*317 177*120 218,021* 116,716 9^,216 355»689 108,200 75,611 106,76,1+75 199,331 Other securities 181 — — — — — — — — — 181 — — Total bills and securities 2,^,^58 l6l,37*J. 758,182 220,303 121,562 95*520 358,1^0 108,697 77,575 109,178 78,62*1. 200,659 Due from foreign banks 9a U8 258 66 60 2k 23 77 ^ 3 17 l6 U5 P. R. notes of other banks 22,107 365 6,600 1,002 1,^5 2,512 1,239 2,813 1,^70 1,108 1,533 329 1,691 Uncollected items 5^,379 56,303 128,693 kl,kS7 ^8,910 ^9,550 18,781 76,062 27,^ 16,82** 31,292 20,823 28,180 Bank premises 50,169 3,168 12,077 ^,75^ 6,632 3,028 a 331 ^,967 2,628 1,580 3,^1+9 1,686 3,869 f All other assets TO,667 533 27,973 M 66 2,318 1,126 1,58^ 586 268 kGO 332 886 1*35 TOTAL ASSETS 10,362,622 71^,6^9 3,917,1*80 662,068 7^6,569 1+06,7^6 292,32s 1,773*662 369,558 2^6,832 355*877 221,581 655,272 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS Ai'TD LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 23, 1935 (In thousands of dollars) B-801c . L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Sans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,504,866 301,209 753,015 25^,5^3 332,972 176,170 1^9,^21 812,936 150,239 106,503 133,910 67,962 265,936 Deposits: Meriter bani: - reserve account 5,575.016 320,221 2*709,302 265,110 326,032 161,1^3 105,33^ 813,795 171,163 105,682 174,802 110,662 311,770 U.S«Treasu.rer - General account 98,919 44,270 2,853 2,734 2,822 1,872 18,897 2,174 2,370 4,344 3,016 6,S42 Foreign 'bank 21,848 1,569 8,072 2,15s 2,071 S07 7S5 2,52s 654 523 583 ' 567 1,526 0tlier deposits 269,918 3,950 149,292 DO , 224 2,517 2,029 3,205 5,111 8,563 5,503 1,639 16,464 Total do-posits 5,965,701 332,465 2,910,936 336,3^5 333,35^ 166,801 111,196 840,331 182,554 114,078 181,373 119,666 336,602 Deferred availability items 5^7,197 56,766 128,77S 39,718 49,033 48,97^ 18,359 77,79*+ 26,494 17,381 30,866 23,513 29,516 Capital paid :.r 130,395 9,^37 50,929 1122,,2299ss 1122,,332277 4,592 4,170 11,990 3,731 .3,003 3,S7^ 3.7SS 10,196 Surplus (Section J) 144,893 9,902 49,964 1133,,447700 1144,,337711 5,126 5,540 21,350 4,655 3,420 3,613 3,777 9,64s Surplus (Sect.'on 13 b) 23,457 2,874 7,250 2,09s 1,007 3,335 75*+ 1,391 547 1,003 1,142 1,252 804 Reserve for contingencies 30,698 1,64s 7,5?o 2,995 3,ooo 2,517 5.325 SS9911 1,169 1,363 2,046 All other liabilities 15,^15 34s 9,048 601 505 277 371 444477 275 . 266 255 527 TOTAL LIABILITIES 10,362,622 714,649 3,917,480 662,06s 746,569 4o6,746 292,32s 1,773,662 369,558 246,832 355,877 221,581 655,272 Ratio of total reserves to deposit and F.R note liabilities combined 76.3 77.8 SI.4 72.1 70.1 66.S 66.3 8O.5 68.8 67.7 66.6 63.5 69.8 e Commitments to make industrial advances 26,91^ 3,336 9,721 799 1,821 1,839 532 529 2,024 l4l 1,303 595 K2jh MATURITY DISTRIBUTION OF BILLS A1ID SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 6,7^2 4,369 85 1,329 30s 644 7 Bills bought in open market KS76 695 227 941 2,813 Industrial advances 32,64o i,so4 214 615 898 2,395 26,714 U.S. Government securities 2,430,219 28,925 22,760 143,660 59,320 387,812 1,787,7^2 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT ON OCTOBER 23, 1935 (In thousands of dollars) B-gOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes Issued to F.R.bank by ?.R.A ~ent 3,813,252 33^,3^5 872,068 266,302 3^9,758 186,562 l6g,UlH 8^5,877 158,107 111,092 1^3,082 7^,327 302,798 r Held by Federal Reserve bank 308,386 33,15& 119,053 12,259 16,786 10,392 18,993 32,891 7,868 ^,589 9,172 6,365 36,862 In actual circulation 3,50^,866 301,209 753,015 25^,5^3 332,972 176,170 1^9,^21 812,986 150,239 106,503 133,910 67,962 265,936 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,698,018 336,617 873,706 268,000 331,UUO 167,000 118,685 S6l,000 15^,632 105,500 128,000 72,175 281,263 Eligible paper 5,2^0 HS5 3,035 131 51 207 6l U- 62 901 163 l^K) U. S. Govt, securities 1^7,000 20,000 20,000 52,000 — ^t-,000 7,000 l6,000 3,000 25,000 Total collateral 3,850,258 337,102 876,7^1 268,131 351,491 187,207 170,7^6 s6i,ooo 158,636 112,562 lU^,901 75,33s 306,1+03 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis