H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Nov. 8; of the Federal Reserve System not earlier. November 7» 1935 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended November 6, as reported "by the Federal Reserve "banks, ms $2,^82,000,000, an increase of $5,000,000 compared with the preceding weak and $25,000,000 compared with the corresponding week in 193^. On November 6 total Reserve "bank credit amounted to $2,^62,000,000, a decrease of $12,000,000 for the week. This decrease corresponds with decreases of $10,000,000 in Treasury cash and deposits with Federal Reserve hanks and $60,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $28,000,000 in monetary gold stock, offset in part by increases of $68,000,000 in money in circulation, and $18,000,000 in member bank reserve balances. Member bank reserve balancos on November 6 wore estimated to be approximately $2,990,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of 000,000 in holdings of United States Treasury notes was offset by a decrease of $^,000,000 in holdings of United States Treasury bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended November 6, 193 5» were as follows: Increase of decrease since Nov. 6 Oct. 30 Nov. 7 1935 1935 193^ (In millions of dollars) Bills discounted 7 + 1 6 Bills bought 5 1 U. S. Government securities 2,^30 Industrial advances (not including 27 million commitments - November 6) 33 + 26 Other Reserve bank credit -12 ~ 12 + U TOTAL RESERVE BANK CREDIT 2,U62 - 12 + 22 Monetary gold stock + 28 +1, 706 Treasury and national bank currency 2,U01 - hi Money in circulation + 68 +251 Member bank reserve balances + 18 +1,639 Treasury cash and deposits with F.R. banks - 10 -289 Nonmember deposits and other F.R. accounts -60 + 8k Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, November 8*1935; not earlier, 3-SOla ASSETS AMD LIABILITIES OF THE HELVE FEDERAL RESERVE BA1JKS COMB IKED (In thousands of dollars) Hoy. 6.1935 Oct. 30,1935 Hqv. 7» ^ A S S E TS Gold certificates on liand and due from U* S Treasury 7,063,156 7,026,623 4,99^,077 f Redemption fund - F. R. notes • . 19,370 19,727 21,296 Other cash . • • * « . . . » • •• 223.63*+ , 273,953 212,643, Total reserves 7,306,160 7,285,303 5,232,016 Redemption fund - F. R. bank notes — 2,204 Bills discounted: Secured by UJB .Gov't obligations,direct and/or fully guaranteed . . . . 3,773 2,999 5,495 Other bills discounted . . . . . 3,028 7,129 7,421 Total bills discounted . . . 6,301 6,128 12,916 Bills bought in open market . . . 4,676 4,676 6,073 Industrial advances • 32,677 32,719 6,617 U. S. Government securities: Bonds , . . « •• 235,447 238,923 395,589 Treasury notes . . . . . . . .. 1,638,588 1,635,087 1,411,717 Certificates and bills . , . . . 556.162 556,162 622,886 Total U.S. Government securities 2,430,197 2,430,172 2,430,192 Other securities • • . . • • •• 181 181 Total bills and securities 2, 474,532 2,473,876 2,455,792 Due from foreign banks . . 64i 64l 819 F. R. notes of other banks 21,829 21,447 19,53S Uncollected items . . .. ^77,338 507,936 404,194 Bank premises . 50,169 50,169 53,084 All other assets . . .. . 41,177. 41.932 48,381 TOTAL ASSETS 10,371,806 10,381,304 8,216,034 L I A B I L I T I ES F. R. notes in actual circulation 3,563,254 3,511,319 3,139,172 F. R. bank note circulation - net —- 28,313 Deposits: Member bank - reserve account « 5,671,235 5,652,989 4,031,551 U*S.Treasurer - General account 59,719 60,279 33,049 Foreign bank . . • • 22,501 25,402 9,074 # Other deposits . . . . . . . .. 213.724 270,744 163.05s Total deposits 5,967,179 6,009,4i4 4,236,732 Deferred availability items 490,231 508,913 420,865 Capital paid in . . . . .. 130,364 130,356 146,777 Surplus (Section j) . . . , l44, 893 144,893 13s,3S3 Surplus (Section 13 b) . . , 23,457 23,457 1,480 Reserve for contingencies < 30,699 30,698 22,291 All other liabilities • . , 21.729 . 22,254 32,021 TOTAL LIABILITY , 10,371,806 10,381,304 8,216,034 Ratio of total reserves to deposit and F. R. note liabilities combined . . 4 76.7$ 76.5$ 70.5$ Contingent liability on bills purchased for foreign correspondents . — — 390 Conmitments to make industrial advances 27,336 "27,057 3,822 •Revised Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAUKS ON NOVEMBER 6, I935 . _ (in thousands of dollars) B-SOlb A S S E TS Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due fromU. S. Treasury 7,063,156 454,5l4 2,944,827 359,954 493,467 232,425 163,937 1,335,184 219,201 1*6,623 192,582 112,l4l 411,301 Redemption fund - F.R. notes 19,370 3,258 1,710 1,498 1,388 1,734 2,673 876 896 390 929 733 3,285 other cash 223,63*+ 32,037 46,526 28,719 13,214 10,756 9,137 28,723 12,112 9,954 14,213 6,369 11,874 Total reserves 7,3o6,l6o 489,809 2,993,063 390,171 508,069 244,915 175,747 1,364,783 232,209 153,967 207,724 119,2^3 426,460 Bills discounted: Secured by U.S.Govt, obligations, direct and/or fully guaranteed 3,773 282 2, 34O 246 20 47 50 4o 4 5 117 122 Other bills disco\mted 3,028 9 2,049 — 19 10 — — 68 794 6677 12 Total bills discounted 6,801 291 4,S89 246 39 47 60 4o 4 73 911 67 134 Bills bought in open market 4,676 345 1,799 474 444 173 168 555 79 64 126 122 327 Industrial advances 32,677 2,904 7,618 6,949 1,761 4,445 1,059 1,927 4o6 1,798 1,138 1,813 859 U. S. Government securities: Bonds 235,447 l4,425 76,148 16,348 19,070 10,209 8,240 25,623 9,420 12,982 9,514 16,033 17,435 Treasury notes 1,638,588 108,478 486,203 122,288 150,660 80,653 65,101 243,634 74,923 47,53? 73,703 47,664 : 137,742 Certificates and bills 556,162 34,773 179,466 38,484 48,295 25,854 20,868 86,432 23,857 15,074 23,627 15,278 44,154 Total U. S.Govt. securities 2,430,197 157,676 741,817 177,120 218,025 116,716 94,209 355,689 108,200 75,595 106,844 78,975 : 199,331 Other securities 181 — — — — — — — — — 181 — — Total bills and securities 2,474,532 161,216 756,123 184,789 220,269 : 121,381 95,496 358,211 108,689 77r530 109,200 80,977 i 200,651 Due from foreign banks 64i 48 256 66 61 24 23 78 4 3 17 16 45 F. R. notes of other franks 21,829 394 6,591 773 1,125 2,477 1,379 3,037 989 1,050 1,46s 313 2,233 Uncollected items 477,338 51,111 103,093 33,57? 43,459 46,161 17,107 67,643 23,159 15,218 31,579 19,390 25,839 Bank premises 50,169 3,168 12,077 4,754 6,632 3,028 2,331 4,967 2,628 1,580 3,449 1,686 3,869 All other assets 41,137 534 29,559 3,944 1,548 1,095 1,529 564 264 449 277 952 422 10,371,806 706,280 3,900,762 618,076 781,163 4i9,061 293,612 1,799,283 367,942 249,797 353,714 222,577 659,519 TOTAL ASSETS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BASKS Oil NOVEMBER 6, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,563,254 304,290 769,739 261,351 335,701 181,480 151,194 819,136 152,981 108,032 136,685 69,969 272,696 Deposits: Member bank - reserve account 5,671,235 321,000 2,691,64s 273,956 363,766 172,188 107,582 856,451 170,434 109,948 173,441 112,44l 318,380 U.S.Treasurer - General account 59,719 1,752 33,106 1,526 2,716 2,878 989 7,486 1,633 1,961 l,4s6 1,176 3,010 Foreign bank 22,501 1,623 2,258 2,231 2,141 334 811 2,614 676 541 60S „ 586 1,57s Other deposits 150.051 12,267 2.183 A. 757 3.705 8.238 5,853 1.357 6 f %2 I4,%7 Total deposits 5,967,179 328,337 2,883,063 2S9,9SO 370,806 177,657 112,644 870,256 180,981 118,303 176,892 120,795 337,465 Deferred availability items 490,231 49,495 116,644 35,472 43,463 45,128 16,487 67,301 23,713 14,634 30,301 21,370 26,223 Capital paid in 130,364 9,437 50,9S6 12,298 12,297 4,591 4,170 11,994 3,732 3,003 3.S73 3,787 10,196 Surplus (Section f) 144,893 9,902 49,964 13,470 14,371 5,186 5,540 21,350 4,655 3,420 3,613 3,777 9,645 Surplus (Section 13 b) 23,457 2,874 7,250 2,098 1,007 3,335 754 1,391 547 1,003 1,142 1,252 804 Reserve for contingencies 30,699 1,648 7,500 2,995 3,000 l,4n 2,516 5,325 891 1,169 835 1,363 2,046 All other liabilities 21,729 297 15,616 4i2 51S 293 307 2,530 442 233 373 264 444 TOTAL LIABILITIES 10,371,S06 706,280. 3,900,762 6IS,0767S1,I63 4I9,081 293,612 1,799,233 367,942 249,797 353,714 222,577 659,519 Ratio of total reserves to deposit t and F.R.note liabilities combined 76.7 77.4 81,9 70.8 71.9 6 8.2 66.6 80.8 69.5 68.0 66.2 62.5 69.9 Commitments to make industrial advances 27,336 3,331 9,513 905 1,805 1,866 495 524 2,337 i*+2 1,303 599 4,516 MATURITY DISTRIBUTION OF BILLS AtTD 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 6,801 4,374 553 853 194 207 620 3ills bought in open market 4,676 156 722 .407 3*391 Industrial advances 32,677 1,566 370 690 937 2,123 26,991 U.S. Government securities 2,430,197 22,760 32,550 145,360 50,495 4o4,598 1,774,434 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT OH NOVEMBER 6, 1935 (In thousands of dollars) B-SOld Total Boston Hew York Phi la. Clevo. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3,846,465 336,462 273,539 272,343 349,974 191,916 170,093 350,115 159,993 112,091 145,226 76,754 302,943 Held by Federal Reserve bank 283,211 32,173 103,800 10,997 14,273 10,436 13,299 30,979 7,012 4,059 3,5^1 6,735 30,252 In actual circulation 3,563,25^ 304,290 769,739 261,351 335,701 101,480 151,194 819,136 152,931 103,032 136,685 69,969 272,696 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U S. Treasury 3,747,513 341,617 383,706 273,000 350,44o 172,000 120,625 861,000 154,632 110,500 131,000 72, 675 276,263 # Eligible paper 5,244 291 3,333 246 39 47 60 39 4 71 909 66 134 U. S. Govt, securities 129,500 — — — — 20,000 52,000 — 6,000 2,000 15,000 4,500 30,000 Total collateral 3,332,262 3^1,903 887,044 273,246 350,479 192,047 172,745 361,039 160,636 112,571 146,909 77,241 306,397 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis