H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PBESS Released for publication Board of Governors Friday morning, Nov. 22; of the Federal Reserve System not earlier. November 21, 1935• CONDITIO!! OF FEDERAL RESERVE 3ANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended November 20, ag reported by the Federal Reserve banks, was $2,^91,000,000, an increase of $7,000,000 compared with the preceding week and of $14,000,000 compared with the corresponding week in 193^* On November 20 total Reserve bank credit amounted to $2,^711000,000, a decrease of $21,000,000 for the week. This decrease corresponds with a decrease of $7,000 ,000 in money in circulation and increases of $57»000,000 in monetary gold stock and $10,000,000 in Treasury and national bank currency, offset in part by an increase of $36,000,000 in member bank reserve balances, $7*000,000 in Treasury cash and deposits with Federal Reserve banks and $9,000,000 in noximember deposits and other Federal Reserve accounts. Member bank reserve balances on November 20 were estimated to be approximately $3,070,000,000 in excess of legal requirements. Holdings of bills discounted declined $U,000,000, while relatively small changes were reported in holdings of purchased bills and industrial advances. Increases of $2,000,000 each in holdings of United States Treasury notes and Treasury bills were offset by a decrease of 000,000 in holdings of United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended November 20, 19351 wero follows: Increase or decrease since Nov. 20 Nov. 13 Nov. 21 Ifffi 193^ (in millions of dollars) Bills discounted 5 -16 Bills bought 5 —« -1 U. S. Government securities 22,,443300 — Industrial advances (not including 27 million commitments - IToveriber 20 ) 33 — — +24 Other fie serve bank credit -2 -IS -6 T0TA.L RESERVE BA2TIC CREDIT 2,471 -21 +1 Monetary gold stock 9,so4 +57 +1.728 Treasury and national bank currency 2,409 +10 -50 Money in circulation 5,739 -7 +284 Member bank reserve balances 5,782 +36 +1,5S6 Treasury cash and deposits with F.R.banks 2,64s +7 -308 ITonmember deposits and other P. R. accounts 515 +9 +117 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, November 22|1935; earlier. B-SOla ASSETS AHD LIABILITIES OP THE TWELVE FEDERAL RESERVE BAIU'S CO!© HIED (In thousands of dollars) ITov. 20,1935 Sfov. 13.1935 Ho v. 21.1934 A S S E TS Gold certificates on hand and due from U, S. Treasury 7»l6l,SUS 7,124,156 5,055,529 Redemption fund - E, E» notos 18,59^ IS,595 19,S37 Other cash 21+2,110 234.585 240.299 Total reserves . . 7,^22,356 7,377,33° 5,315,6°5 Redemption fund ~ F. R. bank notes . .. — — l,SSo Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 2,500 5,569 6,044 Other bills discounted 2.922 3,1+97 15.018 Total bills discounted 5,422 9,066 21,062 Bills bought in open market 4,674 ^,677 5,685 Industrial advances 32,562 32,689 8,673 U. S. Government securities: Bonds 225,753 230,001 395,550 Treasury notes 1,'-'46,009 1,644,009 1,410,229 Certificates and bills 558,482 556.162 624,368 Total U.S. Government securities . 2,430,244 2,430,172 2,430,147 Other securities 181 181 —• Total bills and securities . . .. 2,1*73,083 2,476,785 2,465,567 Dae from foreign banks 645 64l 800 F. R. notes of other banks 23,945 22,139 25,055 Uncollected items . . 599,082 696,940 486,032 Bank premises 50,274 50,220 53,162 All other assets . 42,518 42.057 49.760 Tom ASSETS 10,611,903 10,666,118 8,397,927 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,570,4l6 3,562,087 3,157,686 F. R. bank note circulation - net . . .. — — 27,769 Deposits: Member bank - reserve account 5,781,61+2 5,745,948 4, 195,892 U.S.Treasurer - General account . . .. 50,1+58 77,772 32,699 Foreign bank 29,396 26,131 16,554 Other deposits 232.11+2 222.758 11+2.555 Total deposits 6,093,638 6,072,609 1+,387,700 Deferred availability items 601,723 682,195 1+82,899 Capital paid in 130,306 130,363 ll+7,023 Surplus (Section j) ll+l+,S93 144,893 138,3^3 Surplus (Section 13 b) 23,1+57 23,1+57 2,21+7 Reserve for contingencies 30,700 *}0,6$S 22,291 All other liabilities 16.770 *19.815 31.929 TOTAL LIABILITIES 10,611,903 10,666,118 8,397,927 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 76.8$ 76.6$ 70.1+$ Contingent liability on bills purchased for foreign correspondents . — — 295 Commitments to make industrial advances • 27,01+6 27,373 5,063 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JOSD LIABILITIES OP THE FEDERAL RESERVE BAHKS OS IJOVEMBER 20, 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 7,l6l,61+8 1+58,926 3,003,S88 362,0>+l 1+95,1+1+6 233,076 166,527 1,366,633 21$,4-20 1^2,^30 192,285 117,006 l+0U,270 Redemption fund - F. R. notes 18,598 3,215 1,%6 l,l+l6 1,275 1,383 3.031 776 860 2fS 909 721 3,260 Other cash 21+2,110 33,875 53,713 30,81+1+ lU,S6^ 11,416 10,101+ 29,621 12,959 8,902 lU,575 6,589 1^,6^8 Total reserves 7,1+22,356 1+96,016 3,05S,777 39^,301 511,585 2^5,875 179,662 1,397,030 233.239 151,60s 207,769 12^,316 1+22,178 Bills discounted: Secured by U.S.Govt, obligations, ,39 direct and/or fully guaranteed 2,500 239 11,,666699 323 — 72 50 30 18 5 — 55 Other bills discounted 2,922 16 1»991+ 30 23 1+ 27 12 3 65 697 30 16 Total bills discounted 5^22 255 3.663 353 28 76 77 1+2 21 70 736 30 71 Bills bo-ught in open market ^,671+ 3U5 1,797 1+71+ 1+1+1+ , f73 168 555 J9 61+ 126 122 327 Industrial advances 32,562 2,990 7,672 6,917 1,786 1+,1+10 996 M53 1+03 1,73S 1,132 1,802 863 U. S, Government securities: Bonds 225,753 Xl+,1+20 66,1+06 16,31+8 19,069 10,209 S,2l+0 25,623 9,1+20 13.036 99,,5511^^ 1166,,003333 1177,,55++3355 Treasury notes 1,61+6,009 108,1+78 >+93,625 122,2S8 150,660 8800,,665533 65,101 21+3,63^ 7*+, 923 ^7,533 73,703 1+7,661+ 137.7^2 Certificates and bills 55s,1+82 3^,773 181,786 38,1+84 1+8,295 2255..8855**++ 20,o6S 86,1+32 23,857 15,07!+ 23,627 15,27s i+i+,i5l+ Total u.s.Govt. securities 2,1+30,21+1+ 157,671 71+1,817 177,120 218,021+ Ii6,7i6 9^,209 355,689 108,200 75,61+8 106,31+1+ 78,975 199,331 Other securities 181 — —. _ — — — — — — 181 — Total bills and securities 2,1+73.083 161,261 75*+.9*+9 18l+,S61+ 220,282 121,375 95,1+50 358,139 108,703 77,520 109,019 80,929 Due from foreign banks 61+5 1+8 260 66 61 2*+ 23 78 1+ 3 17 16 R. notes of other banks 23.9*+5 .1+06 7.663 1,010 1,51+0 3,7^ 1,318 2,135 1,373 901 1,707 31+2 1,806 Uncollected items 599.082 61,297 11+7,8^ 1+6,788 62,829 52,570 20,168 76,252 25,263 18,369 35,218 21,997 30,1+62 Bank premises 50,271+ 3,168 12,131 1+.805 6,632 3,028 2,331 I+,967 2,628 1,580 3,1+1+9 1,686 3,869 All other assets 1+2,518 531 30,936 3,951 1,517 1,077 1.532 629 271 1+57 291 929 397 TOTAL ASSETS 10,611,903 722,727 u,012,585 635,735 SOU,1+1+6 1+27,693 300,1+81+ 1,839,230 371,^si 250,1+38 357,^70 230,215 659,3^9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH NOVEMBER 20, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. CI eve. Rich. Atlanta Chicago St.Loiiis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,570,416 306,729 762,900 262,750 336,884 1SU,731 151,216 822,629 153,8^9 107,813 137,280 70,811 272,824 Deposits: Member bank - reserve account 5,721,61+2 323,053 2,779,271 273,113 362,15s 169,454 111,SOU 801,467 171,168 106,982 171,63s 117,67^ 313,260 TJ.S.Treasurer - General account 50,458 2,35^ 19,396 3,110 6,085 ^,092 1,076 5,278 l,24l 2,254 2,133 1,7^0 1,699 Foreign bank 29,396 2,17s 10,282 2,99^ 2,873 1,119 1,089 3,50s 907 726 817 786 2,117 Other deposits 232,142 2,770 l6S,006 18,062 2,44l 2,438 2,796 3,167 7,847 5,56s 1,307 3,107 14,633 Total deposits 6, r093,638 330,355 2,977,555 297,279 373,557 177,103 :1 16,765 893,420 181,163 115,530 175,295 123,307 331,709 Deferred availability items 601,723 61,1+62 11+5,91+7 Ul+,503 62,715 51,017 19,223 80,492 26,240 18,267 34.564 25,614 31,679 Capital paid in 130,306 9,^37 51,006 12,228 12,297 i+,59l 4,172 11,992 3,732 3,001 3,373 3,787 10,190 Surplus (Section j) li+i+,893 9,902 1+9,961+ 13,1+70 1^,371 5,186 5,540 21,350 M55 3,420 3,613 3,777 9,645 Surplus (Section 13b) 23,^57 2,871+ 7,250 2,098 1,007 3,335 75H 1.391 547 1,003 1,142 1,252 so4 Reserve for contingencies 30,700 1,61+8 7,500 2,995 3,000 1,1+11 2,516 5,325 S91 1,169 S36 1,363 2,046 All other liabilities 16.770 320 10,1+63 1+62 615 319 298 2,631 4o4 235 267 304 452 TOTiL LIABILITIES 10,, 611,903 722,727 4,012,585 635,725 S0l+, 1+1+61 +27,693:3 00,484 ]- .839,230 371,^81 250*438 357,^70 230,215 659,349 Ratio of total reserves to deposit and F.R.note liabilities combined 76.8 77.9 81.8 70.1+ 72.0 68.0 67.0 81.4 69^6 67.9 66.3 64.0 69.8 Commitments to make industrial advances 27,01+6 3,221+ 9,1+91 S7U 1,821 2,052 48 524 2,320 i4o 1,303 596 4,653 MATURITY DISTSIBUTIOIT OF BILLS AHD 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 5,U22 3,566 712 162 275 705 ;.2 Bills bought in open market 4,674 l,52l+ 61+1+ 2,350 156 Industrial advances 32,562 1,665 295 812 773 2,023 26,991+ U»S. Government securities 2-, 1+30,241+ 32,550 111,110 59,320 62,71+3 39^,386 1,770,135 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FED3RA.Ii RESERVE ITOTE STZft-TEMEITT 0!I NOVEMBER 20, 1935 (In -thousands of dollars) B-SOld Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis llinn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3,374,197 339,070 875,320 275,263 354,577 195.109 170,390 356,399 l6l,321 111,322 146,200 76,961 310,760 Held by Federal Reserve bank 303,731 32,3^1 112,920 12,518 17.693 10,378 19.174 34,270 7,972 3,509 8,920 6,150 37*936 In actual circulation 3,570,^16 306,729 762,900 262,750 336,334 134,731 151,216 822,629 153.849 107,813 137,230 70,311 272,324 Collateral held "by agent as se- 1 curity for notes issued to "bank; Gold certificates on hand and due from U. S* Treasury 3,779,3^3 341,617 333,706 277,000 356,440 176,000 125,635 361,000 156,632 103,000 13^,000 74,000 236,263 iligible paper 2,190 344 IS 72 73 30 13 66 731 27 3,832 243 S« Govt, securities 20,000 47,000 — 6,000 4,4oo 15,000 3,500 30,000 125,900 Total collateral 3,909,125 3^1,365 335,896 277,3^ 356,45S 196,072 172,758 861,030 162,650 112,466 148,731 77,527 316,323 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis