H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT EOR THE PRESS Released for publication Board of Governors Friday morning, Dec. 13; of the federal Reserve System not earlier. December 12, 1935 CONDITION 0? FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended December 11, as reported by the Federal Reserve banks, was $2,US0,000,000, an increase of $5,000,000 compared with the preceding week and of $8,000,000 compared with the corresponding week in 193^# On December 11 total Reserve bank credit amounted to $2,^7^,000,000, an increase of $U,000,000 for tl*e week. This increase corresponds with increases of $135,000,000 in member bank re serve balances and $5,000,000 in nonmernber deposits and other Federal Reserve accounts, offset in part by increases of $59t000,000 in monetary gold stock and $5,000,000 in Treasury and national bank currency and decreases of $2,000,000 in money in circulation and $68,000,000 in Treasury cash and deposits with Federal Reserve banks* Member "bank reserve balances on December 11 were estimated to be approximately $3,310,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $8,0.00,000 in holdings of United States Treasury notes was offset by decreases of $U,000,000 each in holdings of United States bonds and Treasury "bills* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 11, 1935» were as follows: Increase or decrease since Dec. 11 Dec. b Dec. 12 i225L m 22&L (In millions of dollars) Bills discounted 6 +1 -3 Bills bought 5 — -l U, S. Government securities 2,^30 — Industrial advances (not including 28 million commitments - December 11) 33 +1 +22 Other Reserve bank credit * +3 -6 TOTAL RE SERVE BANK CREDIT +12 Monetary gold stock io,o6s +59 +1,SSS Treasury and national bank currency 2,^7 +5 -39 +309 Money in circulation -2 Member bank reserve balances 6,oHo +135 +1,928 Treasury cash and deposits with F.S.banks 2.55S -Dg -502 +127 Nonmernber deposits and other ]f # R.accounts 550 ' +5 *Less than $500,000 t (3-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, December 13*1935? not earlier* 3~801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE 3A1ES COMBINED (In thousands of dollars) Dec, 11,1935 Peg. 4, 1936 Dec. 12, Iftk A S S E f S Gold certificates on hand and due from U. S. Treasury . . . . . . . . . . .. 7,520, 5,123,143 7.^10,351 Redemption fund - F. R. notes 17, 19,^77 17,52!+ Other cash 23*?,^ 235>g83, , 2 2 5A Total reserves . .. 7,773,249 7,653,320 5»37S,5o6 1,983 Redemption fund - F. R. bank aotes . . * Sills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed . 3,022 2,360 4,982 Other bills discounted 3.084 3,008 —JtiHl Total bills discounted . . . .. 6,106 5.36s 9,256 Bills bought in open market 4,679 M 75 5,690 Industrial advances . .. . . . . . .. 32,790 32,395 10,662 U. S. Government securities: Bonds 215,116 219,948 395,586 Treasury notes 1,639,097 1,630,725 1,39S,264 Certificates and bills . 575,95s 579,5QS 636,367 Total U.S. Government securities 2,1+30,171 2,^30,181 2,430,217 Other securities .181. 181 Total bills and securities . . . 2,^73,927 2,472,800 2,455^ Due from foreign banks 641 644 795 F. R. notes of other banks 19,^77 IS,550 is,515 Uncollected items 55^,980 543,286 490,109 Bank premises 50,304 50,279 53,276 All other assets -44,766 ^ 13 52,3^9 TOTAL ASSETS 10,917,3^ 10,782,292 8,451,35s L I A B I L I T I ES F» R. notes in actual circulation 3,653,7^1 3,648,243 3,201,456 F. R. bank note circulation - net 27,054 Depo si ts: Member bank - reserve account 6,039,613 5,905,115 Mil,9^9 U*S.Treasurer - General account 24,031 42,672 97,750 Foreign bank , 31,849 39,109 17,113 Other deposits 248.062 ,166,50? 6,231,231 4,393,314 Total deposits . . . 6,3^3,555 Deferred availability items 555,360 547,149 484,803 Capital paid in 130,440 130,437 146,846 Surplus (Section 7) . . .. 144,893 144,893 13s,3S3 Surplus (Section 13b) . . . 23,^57 5,065 23,^57 Reserve for contingencies . 30,701 22,293 30,701 All other liabilities . . , 26.181 32.144 7M97 TOTAL LIABILITIES 10,917,3^ 10,782,292 8,451,35s Ratio of total reserves to deposit and F. R. note liabilities combined . . . 77.$ 77.$ 70.8$ Contingent liability on bills purchased for foreign correspondents 648 Commitments to make industrial advances 28,084 *27,719 7,120 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAMS OK DECElffiER 11, 1935 (In thousands of dollars) £-801b A S S E TS Total Boston Hew York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran. Gold certificates on hand and due fromu. So Treasury 7,520,349 515,717 3,208,845 359,343 244,396 170,135 l,4l6,92S 220,936 153,396 201,432 125*5^ 4os 66o r Redemption fund - R. notes 17,487 3,l69 1,257 1,328 1,211 969 2,944 685 84l 557 878 7O8 2,9^0 other"cash 235,^3 33,992 50.372 30,082 12,980 10,155 11,077 27,444 15,072 6,974 15,063 6,135 16,067 Total reserves 7,773,249 552,878 3,260,474 390,753 508,308 256,120 184,156 1,445,057 236,849 161,427 217.373 132,187 427,667 Eills discounted: Secured by U.S.Govt. obligations, direct and/or fully guaranteed 3,022 573 1,810 33S 72 50 — 28 5 34 82 15 Other bills discounted 3,084 37 2,134 85 26 10 48 32 13 62 587 31 19 Total bills discounted 6,106 610 3,944 423 4i 82 98 32 4i 67 621 113 34 173 Eills bought in open market 4,679 344 1,803 474 444 , 168 555 80 64 126 121 327 Industrial advances 32,790 2,965 7,932 6,822 1,717 4,450 942 1,851 4lo 1,682 1,143 1,765 1,111 U_, S. Government securities: Bonds 215,116 14,420 55,842 16,34s 19,070 10,209 88,,224400 25,623 9,420 12,9b2 9,51^ 16,033 17,435 Treasury note^ I,b39.097 107,424 497,470 121,122 149,19s 79,870 64,469 241,669 74,201 47,081 72,983 47,200 136,405 Certificates and bills 575.95S 35,827 188,505 39,650 49,757 26,637 21,500 88,397 24,579 15,531 24,342 15,742 45,491 Total TJ.S«Govt. securities 2,430,171 157,671 741,817 177,120 218,025 116,716 94,209 355,689 108,200 75,574 106,844 78,975 199,331 Other securities 181 — — — — — — — — 181 — — Total bills and securities 2,473,927 161,590 755,496 184.S39 220,227 121,421 95,417 358,127 108,731 77^387 108,915 SO„974 200,803 Due from foreign banks 641 48 254 67 61 24 23 78 4 3 17 17 45 F.R. notes of other banks 19,477 318 4,715 970 1,068 2,123 1,547 2,624 1,731 1,095 1,39s 382 1,506 Uncollected items 554,980 55,O4O 155,650 41,731 43,270 45,605 19,007 71,27s 25,669 14,375 30,395 20,405 27,555 Bank premises 50,304 3,16s 12,136 4,830 6,632 3.Q2S 2,331 4,967 2,62s 1,530 3,449 l,6s6 3,869 All other assets 44,766 501 32,699 4,626 1,561 1,070 1,%1 602 259 460 237 S72 38S TOTAL ASSETS 10*917,344 773,543 4,221,424 627,816 726,127 429,391 303,972 1,882,733 375,871 256,327 361,784 236,523 661,833 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BASES OH DECEMBER 11, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. Oleve. Rich. Atlanta Chicago St.Louis Hinn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3.653,7^1 316,389 733.011 271,499 350,216 183,023 152,931 834,945 153,799 110,261 ll+0,55S 73,550 278,559 Deposits; Member bank - reserve a.c count 6,039,613 366 ,173 2,946,322 267,476 34S,15<i ISO, 23k 112,032 919,975 169,896 114.333 170,119 124,010 312-328 U.S.Treasurer - General account 24,0^1 1,900 4,277 .430 2,27s 2,730 1,543 2,232 1,753 1,127 1,059 592 3,460 Foreign bank 31,349 2,293 11,677 3,160 3,033 1,131 1,1^9 3,703 953 766 860 830 2,234 Other deposits 248,062 2.112 1Gq,1S9 1,842 hW ,?r?4l 7,810 6,182 1,^7 Total de-posits 6,343,555 373,143 3,150,965 233,542 356,707 136,097 118,717 929,351 130,477 122,403 181,465 123,346 331,337 Deferred availability items 555,360 55,391 151.716 40,619 47,51s 45,341 19,042 72,703 26,323 14,309 29,700 23,509 23,639 Capital paid in 130,440 9,428 50,993 12,332 12,316 4,588 4,167 11,993 2,993 3r9l0 3,773 10,197 Surplus (Section 7) 144,893 9,902 49,964 13,470 14,371 5,186 5,540 21,350 4,6 5 5 4 5 7 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 1,003 1,142 1,252 804 Reserve for contingencies •-30.701 1,648 7,500 2,955 , UvJ u l,4n 2,516 5,325 891 1,169 837 1,363 2,046 All other liabilities 35,197 4,768 20,020 1,261 4io 305 SiiZO 449 251 448 556 222 TOTAL LIABILITIES 10,917,344 773,543 4,221,424 627,816 786,127 429,391 303,972 1,882,733 375,871 256,327 361,784 236,523 661,333 Ratio of total reserves to deposit and F«3.note liabilities combined 77.8 80.2 82.9 70-4 71.9 69.4 67.8 8I.9 69.8 69.4 67.5 65.3 70.1 Comi tr.ients to make industrial advances 28,084 3,218 9,948 885 1,703 2,261 545 523 2,294 139 1,353 596 4,619 MATURITY DISTRIBUTION OF 3ILLS A1TD SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 6,106 4,399 64 264 206 1,173 Bills bought 4,679 2,006 489 80S 1,376 Industrial advances 32,790 1,651 334 683 1,564 27.505 U.S.Government securities 2,430,171 91,024 27,250 57,280 70*,6^3 368,835 1,815,139 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH DECEMBER 11, 1935 (In thousands of dollars) B-SOld Total Boston New York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Sans.Cy. Dallas San Eran. JcdsrstX RcssrvG notsss Issued to F.R.bank by E.R.agent 3.966,374 3^2,589 903,397 283.527 365,716 195.596 172,9^6 871,867 167,325 114,339 1^9,012 80,942 319,118 Held by federal Reserve bank 312,633 26,200 120,386 12,028 15,500 12,573 20,015 36.922 8.526 4.078 8.4*s4 7.^? Uo.SRfl In actual circulation 3.653,7^1 316,389 763,011 271,499 350,2l6 183,023 152,931 834,945 158,799 " .1*0,261 l4o,55s 73,550 278*559 Collateral held by agent as security for notes issued to bank; Gold certificates on hand and due from U. S. Treasury 3,909.843 356,617 923,706 283,500 366,440 182*000 128,685 881,000 162,632 110,500 138,000 80,500 296,263 Eligible paper 4,4o4 59O 2,4l6 396 15 72 88 — 33 6l 612 106 15 U. S. Govt, securities 109,000 — — — — 14.000 47.000 — 5.000 5.000 12.000 1.000 ?R 00Q f Total collateral 4,023,247 357,207 926,122 283,896 366,^5 196,672 175,773 881,000 167,665 H5,56i 150,612 si,606 321,27s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis