H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Nov* 1; of the Federal Reserve System not earlier* October 31, 1935 COUDITION OF FEDERAL RESERVE BA1IKS The daily average volume of Federal Reserve bank credit outstanding during the week ended October 30, as reported by the Federal Reserve banks, was $2,^77t000t00°> a decrease of $8,000,000 compared with the preceding week and an increase of $22,000,000 conpared with the corresponding week in 193^» On October 30 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 $78,000,000 in member bank reserve balances, $2,000,000 in money in circulation and $10,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $57,000,000 in monetary gold stock and $4,000,000 in Treasury and nationa? bank currency and a decrease of $29,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances 011 October 3^ were estimated to be approximately $3,010,000,000 in excess of legal requirements. Relatively small changes \?ere reported in holdings of discounted and purchased bills and industrial advances. An increase of $4,000,000 in holdings of United States Treasury notes was offset by a decrease of $4,000,000 in United States Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended October 30» 1935t were as follows: Increase or decrease since Oct. 30 Oct. 23 Oct. 31 19^ (In millions of dollars) Bills discounted 6 -1 -5 Bills bought -1 > 5 U. S. Government securities 2,^30 Industrial advances (not including 27 million commitments - October 30) 33 +27 Other Reserve bank credit +2 -2 T0TA.L RESERVE BAM CREDIT +2 +1 Monetary gold stock 9*6s6 Treasury and national bank currency 2, HOI -33 Money in circulation 5,6s6 +2 +233 Member bank reserve balances 5»653 +J8 +1,647 Treasury cash and deposits with F. R. banks 2,665 -29 -3S6 Nonmember deposits and other F.R* accounts 556 +10 +155 (B-SOl) •Less than $500,000, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, ITovenber 1,1935; not earlier. 3-2 Ola. ASSETS AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS C0IEI1ED (In thousands of dollars) Oct. 30.1935 Oct. 23.1935 Oct. 31.1934 A S S E TS Gold certificates on hand and due fron U. S. Treasury . . . . . . . . .. 7,026.623 6,979,122 4,966,421 Redemption fund - F. R. notes , . . 19,727 12,627 22,032 Other cash 238.953 . 232,39.2 223.407 Total reserves . . . . . .. 7,225,303 7,230,201 5,211,920 Redenption fund - F. R. "bank notes 1,229 Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 2,999 3,407 5,404 Other bills discounted . 3.129 3,335 5,?2l Total bills discounted 6,122 6,742 10,925 Bills bought in open market >1,676 4,676 6,022 Industrial advances 32,719 32,640 6,149 U. S. Government securities: Bonds . . .. 232,923 232,970 395,572 Treasury notes 1,635,027 1,630,622 1,411,707 Certificates and bills 556.162 560.567 622.286 Total U.S. C-overnnent securities 2,430,172 2,430,219 2,430,171 Other securities 121 121 Total bills and securities . .. 2,473,276 2,474,452 2,453,327 Due from foreign banks . .. 641 641 211 F. R. notes of other banks 21,447 22,107 19,744 Uncollected items 507,936 5^,379 439,993 Bank premises 50,169 50,169 52,97^ All other assets 41,932 40,667 42.094 TOTAL ASSETS 10,321,304 10,362,622 2,222,752 L I A B I L I T I ES F. R. notes in actual circulation 33,,551111,,331199 3,504,266 3,160,777 F. R. "bank note circulation - net — 22,664 Deposits: Member bank - reserve account , 5,652,939 5,575,016 4,005,999 U.S.Treasurer - General account 60,279 92,919 92,293 Foreign bank 25,402 21,24-2 2,952 Other deposits . . 270.744 269.912 154.552 Total deposits 6,009,4l4 5,965,701 4,261,202 Deferred availability itens . . . 502,913 5'+7,l97 ^32,939 Capital paid in . . . . . . .. . 130,356 130,395 146,777 Surplus (Section J) 144,293 144,833 132,323 Surplus (Section 13 b) 23,^57 23.^57 245 Reserve for contingencies . . .. 30,692 30,692 22,291 All other liabilities 15.415 30,27^ 22.254 TOTAL LIABILITIES 10,362,622 2,222,752 10,321,304 Ratio of total reserves to deposit and F. R. note liabilities combined . .. 76.5$ 76.3$ 70.2$ Contingent liability on bills purchased for foreign correspondents 465 Conuitnents to nal:e industrial advances 27,047 26,914 3,212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON OCTOBER 30, 1935 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 7,026,623 449,720 2,9^3,^71 403,462 467,067 220,730 160,716 1,318,6g4 220,4o6 144,815 186,504 109,628 401,360 Redemption fund - F. R. notes 19,727 3.288 1,910 1,572 1,440 1,479 2,719 997 9H 402 9M-6 7I+2 3,321 Other cash 238,953 31,244 53.776 30,066 14,574 11,728 9,877 30.700 12,531 10,072 14,467 7,061 12,857 Total reserves 7,285,303 4s4,252 2,999*157 435,100 483,081 233,937 173,312 1,350,381 233,84s 155,289 201,917 117,491 417,538 Bills discounted: Secured "by U.S.Govt, obligations. direct and/or fully guaranteed 2,999 194 2,163 151 20 97 50 — 54 5 132 — 133 Other bills discounted 3,129 9 2,049 — 55 45 11 — — 70 765 98 27 Total bills discounted 6,128 203 4,212 151 75 142 61 54 75 897 98 160 Bills bought in open market 4,676 345 1,796 474 445 173 168 556 80 63 126 122 328 Industrial advances 32,719 2,954 7,600 6,895 1,783 4,463 1,073 1.929 413 i,so6 1,124 11,,881155 864 U. S. Government securities: Bonds 23S.923 14,425 79,866 16,34s 19,069 10,209 8,241 25,623 9,420 12,958 9.514 15,815 17,435 Treasury notes 1,635,087 108,478 4S4,432 122,288 150,660 80,653 65,101 243,634 74,923 47,538 73,703 45,935 137,742 Certificates and bills 556,162 3^,773 180,019 38,4S4 4s,295 25,854 20,868 86,432 23,857 15,074 23,627 14,725 44,154 Total U.S. Govt, securities 2,430,172 157,676 744,317 177,120 218,024 116,716 94,210 355,689 108,200 75,570 106,844 76,475 199,331 Other securities 181 — — — — — — — — — 181 — — Total bills and securities 2,^73,876 161,17s 757,925 184,640 220,327 121,494 95,512 358,174 108,747 77,514 109,172 78,510 ;2 00,683 Due from foreign banks 641 48 258 66 61 23 23 77 4 3 17 16 F. R. notes of other banks 21,41*7 37S 5,969 93S 1,359 2,868 1,200 2,571 1,30s 1,104 1,459 299 1,994 Uncollected items 507,936 56,687 121,017 38,112 47,923 43,595 17,805 69,906 22,232 13,484 29.708 18,805 28,662 Bank premises 50,169 3,168 12,077 4,754 6,632 3,028 2,331 4,967 2,62s 1.580 3,^9 1,686 3,869 All other assets 1+1,932 509 28,955 4,964 1,807 1,137 1,570 574 271 470 373 8S0 422 TOTAL ASSETS 10,381,304 706,220 ]5 .925,35s 668,574 761,190 '4 06,082 291,753 3 L ,736,650 ;3 69,038 249,1J44 346,095 217,687 615 3,213 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAJES OH OCTOBER 30, 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, 332,270 17s,Ol+l+ 1^9,319 811,857 150,969 106,1+1+6 133,960 F.R.notes in actual., circulation 3,511.319 302,259 756,567 256,300 67,775 265,553 Deposits: 35+1,01+3 160,919 10*+,963 838,626 170,1+31 110,093 163,1+06 109,265 Member bank - reserve account 5.652.9S9 31^,039 2,750,676 272,239 312,239 U.S.Treasurer - General account 60,279 3,362 10,690 1,692 I+,56O 5,751 3,195 12,572 M 73 2,689 2,698 2,622 6,275 Foreign bank 25,1+02 1,829 9,351 2,5lU 2,413 9H0 911+ 2,qi+6 762 609 686 660 1,77S Other deposits 270,71+1+ 3,1+30 149,SS5 66,31s 1,903 2,35*+ 3,210 5,6S7 9,3*+3 5,373 1,566 5,935 15,735 Total deposits 6,009,1+11+ 322,710 2,920,602 3^2,763 3^9,92^ 169,961+ 112,282 859,831 I8l+,709 118,761+ 173,356 118,1+82 336,027 Deferred availability items 508,913 56,966 118,255 37,272 1+7,71+9 1+3,21+5 16,801 72,296 23,077 ll+,93i 28,839 20,965 28,517 Capital paid in 130,356 9,^35 50,983 12,29s 12,297 i+,59i '4,170 11,995 3,730 3,003 3,872 3,786 10,196 Surplus (Section 7) li+l+,893 9,902 1+9,961+ 13,^70 1^,371 5,186 5,540 21,350 I+,6^5 3,1+20 3,613 3,777 9,61+5 Surplus (Section 13 b) 23,^57 2,87*+ 7,250 2,09s 1,007 3,335 15b 1,391 5U7 1,003 1,1^2 1,252 804 Reserve for contingencies 30,69s 1,61+8 7,500 2,995 3,000 l,Uli 2,516 5,325 S91 1,169 83I+ 1,363 2,01+6 All other liabilities 22,251+ 1+26 li+,237 1,378 572 306 371 2,605 1+60 708 1+79 287 1+25 TOTAL LIABILITIES 10,381,301+ 706,220 3,925,35s 668,571+ 761,190 1+06,0S2 291,753 1,736,650 369,03s 21+9,1+14+ 3^6,095 217,687 653,213 Ratio of total reserves to deposit and F.R. note liabilities combined 76.5 77.5 81.6 72.6 70.8 67.2 66.3 80.8 69.7 69.0 65.7 63.1 69.^ Commitments to make industrial 1,829 1,827 532 529 2,361+ ll+l 1,303 advances 27,01+7 3,335 9,526 803 599 ^,259 MATURITY DISTRIBUTION OF BILLS MD SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,128 3,7^9 597 876 2U7 61+9 10 Bills bought in open market i+,6 76 165 682 521 3,308 Industrial advances 32,719 1,69s 195 75^ 79^ 2.39S 26,880 U.S. Government securities 2,1+30,172 27,500 23,360 ll+5,8SO 56,925 392,39S l,7SM09 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATELOETT ON OCTOBER 30, 1935 (In thousands of dollars) B-SOld Total Boston New York Phi la. CI ere. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. F^d^rdiX j^gggj'yg no"tos Issued to F.R.bank by F.R.Agent 3,812,938 336,699 872,9^7 267,687 348,723 127,785 167,998 844,392 157.207 110,432 142,628 74,292 302.lUg Held by Federal Reserve bank 301,619 34,440 116,380 11,387 16,453 9,74l 18,679 38,535 6,238 3,986 8,668 6,517 36,595 in actual circulation 3.5H.319 302,259 756,567 256,300 332,270 178,044 149,319 811,857 150,969 106,446 133.960 67,775 265,553 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,712,018 34l,6l7 873,706 270,000 339,440 168,000 118,685 861,000 156,632 105,500 131,000 70,175 276,263 Eligible paper 4,668 203 2,760 151 75 142 6l — 54 69 895 98 160 U. S. Govt, securities 138,000 — — — 10,000 20,000 52,000 — 1,000 7,000 13,000 5,000 30,000 Total collateral 3,854,686 341,820 876,466 270,151 349,515 188,142 170,746 861,000 157,686 112,569 144,895 75,273 306,423 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis