H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Saturday morning, Nov. 30; of the Federal Reserve System not earlier November 29, 1935. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended November 27, as reported by the Federal Reserve banks, was ^2,474,000,000, a decrease of $17,000,000 compared with the preceding week, and an increase of 410,000,000 compared with the corresponding week in 1934* On November 27 total Reserve bank credit amounted to $2,472,000,000, an increase of 41,000,000 for the week* Increases of $81,000,000 in money in circulation, $7,000,000 in member bank reserve balances and 419,000,000 in nonmember deposits and other Federal Reserve accounts were offset by increases of 470,000,000 in monetary gold stock and 412,000,000 in Treasury and national bank currency and a decrease of ^23,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on November 27 were estimated to be approximately 43,060,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances• An increase of 46,000,000 in holdings of United States Treasury notes was offset by a decrease of 46,000,000 in United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended November 27, 1935, were as follows % Increase or decrease since Nov. 27 Nov. 20 Nov. 28 1935 1935 1934 (In millions of dollars) Bills discounted 6 + 1 - 9 Bills bought 5 - 1 U. S. Government securities Industrial advances (not including 28 million 2,430 commitments - November 27) 23 Other Reserve bank credit - 331 + 1 TOTAL RESERVE BANK CREDIT 2,472 + 1 + 12 Monetary gold stock 9,874 + 70 +1,762 Treasury and national bank currency 2,421 + 12 - 48 Money ig circulation 5,820 + SI + 304 Member bank reserve balances 5,789 + 7 4-1,681 Treasury cash and deposits with F.R.banks 2,625 23 - 392 — Nonmember deposits and other F.R. accounts 534 + 19 135 B-801 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1 n Released for publication S&Mr&ay m®rning, November 3°»935*.ot earlier. B-SOla ASSETS AID LIABILITIES OP THE TWELVE PEDERA.L RESERVE BABES C0MBI1TED (In thousands of dollars) Hov. 27.1935 ITov. 20.193*5 Nov. 28. 1934 A S S E TS Gold certificates on hand and due from U. S. Treasury 7,266,651 ?,l6l,648 5,087,272 Redemption fund - F. R. r*otas . . 17,668 18,598 20,138 Other cash 227.2U9 242,110 220.216 Total reserves . . . . .. 7,511,568 7,^22,356 5,327,626 Redemption fund - P.R. bank notes 1,886 Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed . 3,200 2,500 7,315 Other bills discounted . . 2,832 2,922. 7.607 Total bills discounted 6,032 5,^22 14,922 Bills bought in open market 67H 5,623 Industrial advances . . .. 32,63^ 32,562 9,769 U. S. Government securities: Bonds 219,9^ 225,753 395,5^ Treasury notes 1,651,757 1,646,009 1,^10,257 Certificates and bills . . 558,482 558,482 624,368 Total U.S.Government securities 2,^30,179 2,430,244 2,^30,169 Other securities 181 181 Total bills and securities . . , 2,^73,700 2,473,083 2,460,543 Due from foreign banks . . 6U5 645 803 P. R. notes of other banks, 20,038 23,9^5 20,041 Uncollected items . .. 531,236 599,082 ^25,277 Bank premises 50,278 50,27H 53.16^ All other assets . . . . . ^,329 42,518 50.561 TOTAL ASSETS 10,630,79^ 10,611,903 8,339,901 L I A B I L I T I ES P. R. notes in actual circulation , 3,626,782 3,570,416 3,188,471 P. R. baj^r note circulation - net 27,77^ Deposits: Member bank - reserve account . , 5,788,991 5,781,642 4,108,453 U.S.Treasurer - General account , 53,768 50,458 85,576 Poreign bank . . ^3,787 29,396 16,992 Other deposits . . .. 143,000 237.782 Total deposits 6,124,328 6,093,638 4,354,021 Deferred availability items . . . 533,284 601,723 427,116 Capital paid in 130,436 130,306 146,879 Surplus (Section 7) 144,893 144,893 138,383 Surplus (Section 13 b)v 23,^57 23,^57 2,682 Reserve for contingencies . . .. 30,100 30,700 22,291 All other liabilities . . . . .. 16.914 16,770 32,284 TOTAL LIABILITIES 10,630,79^ 10,611,903 8,339,901 Ratio of total reserves to deposit and P. R. note liabilities combined . . 77.( 76.{ 70.6$ Contingent liability on bills purchased for foreign correspondents . . . .. 490 Commitments to make industrial advances 28,002 *27,486 6,657 •Revised, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A3© LIABILITIES OF THE FEDERAL RESERVE BANKS ON NOVEMBER 27, 1935 (in thousands of dollars) 3-S01b 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 7,266,651 470,904 3,050,789 346,707 494,627 236,249 163,955 1,405,016 220,639 139,785 194,192 115,702 428,086 Redemption fund - I. R. notes 17,668 3,190 1,360 1,365 1,239 1,191 2,960 7l4 846 262 883 711 2,947 Other cash 227,249 32,219 46,806 29.254 13.989 11.766 9,754 26.937 13.459 7.735 14.242 6.363 14.725 Total reserves 7,511,568 506,313 3,098,955 377,326 509,855 249,206 176,669 1,432,667 234,944 147,782 209,317 122,776 445,758 Bills discounted: Secured "by U.S.Govt, obligations, direct and/or fully guaranteed 3,200 914 1,469 308 15 62 50 200 88 10 39 45 — Other "bills discounted 2,832 16 1,999 47 10 4 27 12 7 64 609 30 7 Total "bills discounted 6,032 930 3,468 355 25 66 77 212 95 74 648 30 52 Bills "bought in open market 4,674 345 1,797 474 444 173 168 555 79 64 126 122 327 Industrial advances 32,634 2,989 7,733 6,928 1,774 4,412 993 1,888 403 1,729 1,130 1,792 863 U. S. Government securities: Bonds 219,940 14,420 60,664 16,348 19,069 10,209 8,240 25,623 9,420 12,965 9,514 16,033 17,435 Treasury notes 1,651,757 108,478 499,367 122,288 150,660 80,653 65,101 243,634 74,923 47,544 73,703 47,664 137,742 Certificates and bills 558,482 34,773 181,786 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 2,430,179 157,671 741,817 177,120 218,024 116,716 94,209 355,689 108,200 75,583 106,844 78,975 199,331 Other securities 181 181 — — — Total "bills and securities 2,473,700 161,935 754,815 184,877 220,267 121,367 95,447 358,344 108,777 77,450 108,929 80,919 200,573 Dae from foreign "banks 645 48 260 66 61 24 23 78 4 3 17 16 45 R. notes of other "banks 20,038 415 5,810 842 l,4li 2,805 1,353 2,162 1,054 866 1,046 333 l,94l Uncollected items 531,236 57,641 125,599 42,331 48,921 46,090 19,036 74,700 22,179 15,282 29,847 19,498 30,112 Bank premises 50,278 3,168 12,135 4,805 6,632 3,028 2,331 4,967 2,628 1,580 3,449 1,686 3,869 All other assets 43,329 510 31,789 3,975 1,513 1,080 1,490 607 265 470 338 904 388 TOTAL ASSETS 10,630,794 730,030 4,029,363 614,222 788,660 423,600 296,349 1,873,525 369,851 243,433 352,943 226,132 682,686 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS ALT) LIABILITIES OP THE FEDERAL RESERVE BAMS OH NOVEMBER 27, 1935 (in thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. CIeve. Rich. Atlanta CChhiic caaggoo St.Louis Minn. ICans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,626,782 309,976 792,676 267,872 343,567 185,226 151,122 882288,,777700 155,836 108,264 137,580 71,899 273,994 Deposits: Member 'baa]*: — reserve account !,788,991 329,263 2,777,837 253,159 353,184 169,184 107,196 903,645 168,460 102,879 170,088 115,595 338,501 U.S.Treasurer - General account 53,768 2,591 14,644 1,563 5,313 5,323 1,821 12,955 2,059 1,090 3,765 830 1,814 Foreign bank •43,787 3,083 16,726 4,239 4,068 1,584 1,541 4,967 1,285 1,028 1,156 1,113 2,997 Other deposits 237,782 2,746 176,168 14,374 2,667 1,730 3,264 3,200 8,423 Total deposits 6,124,328 337,683 2,985,375 273,335 365,232 177,821 113,822 924,767 180,227 110,514 176,251 122,244 357,057 Deferred availability items 533,284 58,162 125,295 41,629 48,496 45,724 18,114 77,273 23,530 15,792 29,296 21,510 28,463 Capital paid in 130,436 9,435 51,005 12,326 12,297 4,591 4,172 11,992 3,732 3,001 3,905 3,783 10,197 Surplus (Section j) 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 30,700 1,648 7,500 2,995 3,000 2,516 5,325 891 M,169 836 1,363 2,046 All other liabilities 16,914 350 10,298 497 690 306 309 2,657 433 270 ?20 *>4 480 TOTAL LIABILITIES 10,630,794 730,030 4,029,363 614,222 788,660 423,600 296,349 1,873,525 369,851 243,433 352,943 226,132 682,686 Ratio of total reserves to deposit and F.R.note liabilities combined 77.0 78.2 82.0 69.7 71.9 68.6 66.7 81.7 69.9 67.5 66.7 63.2 70.6 Commitments to make industrial advance s 28,002 3,223 10,003 855 1,821 2,050 461 523 2,319 139 1,353 596 4,659 MATURITY DISTRIBUTION OF BILLS AIJD SECURITIES 91 days to Total Within 15 days lo to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,032 3,761 784 231 118 1,136 Bills bought 4,674 532 1,958 713 1,471 Industrial advances 32,634 1,530 435 684 987 1,868 27,130 U.S. Government securities 2,430,179 33,830 112,050 56,925 62,618 388,086 1,776,670 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL ESS3RTS 2TOTE STAT2M31TT ON JTOTSMBM 27, 1935 (In thousands of dollars) 3-S01d Total Boston ITet? York Phila. Cleve. Hich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.banlc by F.R.Ar-ent 3,897,108 339,577 887,259 278,284 358,037 194,928 169,626 861,772 162,107 111,557 1-45,106 78,-484 310,371 Held "by Federal Reserve bajx: 270,326 29,601 94,583 10,-412 14,470 9,702 18,504 33,002 6,271 3,293 7,526 6,585 36,377 In actual circulation 3,626,782 309,976 792,676 267,872 343,567 185,226 151,122 828,770 155,836 108,264 137,580 71,899 273,994 Collateral held "by agent as security for notes issued to "banl Gold certificates on hand and due from U. S. Treasury 3,824,343 346,617 893,706 273,000 358,940 178,000 125,685 871,000 159,632 106,500 133,000 74,000 304,263 Eligible paper 4,494 923 1,999 345 15 62 73 200 92 70 643 27 45 XJ. S. Govt, securities 109,100 — 5,000 — 18,000 47,000 3,000 6,100 15,000 5,000 10,000 Total collateral 3,937,937 347,540 895,705 278,345 358,955 196,062 172,758 871,200 162,724 112,670 148,643 79,027 314,308 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis