H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication Board of Governors Friday morning, Dec, 20; of the Federal Reserve System not earlier. December 19, 1935. CONDITION OF FEDERAL R3SBRVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended December 18, as reported by the Federal Reserve bankp, was $2,^98,000,000, an increase of $18,000,000 compared with the preceding week and of $27,000,000 compared ftith the corresponding week in 195^ • On December IS, total Reserve bank credit amoimted to $2,^83>000,000, an increase of $9f030,000 week* This increase corresponds with increases of $603,000,000 in Treasury cash and deposits with Federal Reserve banks and $61,000 ,000 in money in circulation, offset in part by decreases of $603,000,000 in member bank reserve balances and ^11;, 000,000 in nonmember deposits and other Federal Reserve accounts and increases of $30,000,000 in monetary gold stock and $11,000,000 in Treasury and national bank currency. Member bank reserve balances on December IS were estimated to be approximately $2,710,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $3,000,000 in holdings of United States Treasury notes was offset by a decrease of $3,000,000 in holdings of United States Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 18, 1935» were as follows: Increase or decrease since Dec. IS Dec. 11 Dec. 19 Bills discounted +1 -2 Bills bought -1 U. S. Government securities Industrial advances (not including 28 million commitments - December IS) 33 +21 Other Reserve bank credit s -12 TOTAL RESERVE BAIS CREDIT 2,kS3 +9 +6 Monetary gold stock 10,03S +30 +1,900 Treasury and national bank currency +11 J4.7 Money in circulation 5,902 +61 Member bank reserve balances 5.^37 -603 Treasury cash and deposits with F.R.banks 3,161 +603 -60 Uonmember deposits and other F.R.accounts 539 -11 +111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

llot -Released for publication Friday morning, December 20,1935". earlier. B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBATED (In thousands of dollars) Dec. 18.1915 Dec. 11.1935 Dec., ,19,1,934 A S S E TS G*ld certificates on hand and due from U. S, Treasury 7,553,862 7.520,349 5,122,7o2 Redemption fund -< F. R« notes 17,623 17 >87 19>54 Other cash 233,371 255>13 219.652 Total reserves 7,304,856 7.773,249 5',361,873 Redemption fund - F. R. bank notes l.g4l Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 3.634 3.022 4,768 Other bills discounted . . . . . . .. 3.286 3.084 LJD2 Total bills discounted . . .. 6,920 6,106 8,607 Bills bought in open market . . . . .. 4,671 4,679 5,682 Industrial advances 32,696 32,790 12,494 U. S. Government securities: Bonds 215,615 215,116 395.572 Treasury notes 1,641,602 1,639,097 1,507,124 Treasury bills 572.958 575.958 Total U.S. Government securities 2,430,175 2,430,171 2,430,171 Other securities 18.1 181 — Total bills and securities . . 2 >74,643 2,473,927 2,456,954 Due from foreign banks 650 64l 804 F. E. notes of other banks 20,039 19 >77 22,028 Uncollected items 657,595 55^.980 551 >96 Bank premises . . . 50,308 50,304 53.372 All other assets 38,290 44,766 42,133 T om ASSETS 11,046,381 10,917,344 8,490,506 L I A B I L I T I ES F. R. notes in actual circulation . .. 3,698,393 3,653,741 3.231,862 F. R. bank note circulation - net . .. — — 26,752 Deposits: Member bank - reserve account . . .. 5>36,894 6,039,613 3.9^3.123 U.S.Treasurer - General account . . . 632,794 24,031 232,2bl Foreign bank 32,716 31,849 18,361 Other deposits 248,110 24s,062 166,548 Total deposits 6,350,514 6,343,555 4,360,293 Deferred availability items 650,308 555,360 532.562 Capital paid in 130>71 130,440 146,718 Surplus (Section 7) , . . . . l44,Sy3 144,893 138,383 Surplus (Section 13b) 23,457 23,457 5.126 0 Reserve for contingencies 30,700 3»7°1 22,272 All other liabilities 17.645 55,197 26.538 TOTAL LIABILITIES 11,046,381 10,917,344 g >90,506 Ratio of total reserves to deposit and F. R„ note liabilities combined . . . 77.7? 77.$ 70.6$ Contingent liability ©n bills purchased Jfor foreign correspondents — — 651 Commitments to make industrial advances 27,691 28,084 7.399 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON DECEMBER IS, 1935 (in thousands of dollars) B-gOlb A S S E TS Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 7,553*862 523,283 3.175,043 375,733 501,551 2^3,673 175,iKK) 1,^38,673 232,083 149,028 203,024 127,880 403,491 Redemption fund - F.S.notes 17,623 3,017 1,920 1,286 1,090 1,057 2,S?9 570 806 545 856 6s6 2,901 Other cash 233.371 33,603 48,392 30,503 1M59 10,7*18 10,62s 25,970 15,670 6,859 6,269 15,626 Total reserves 7,804,856 564,903 3*225,355 ^07,522 516,700 255,478 188,917 1,465,213 248,559 156,432 218,924 134,835 422,018 Bills discounted: direct and/or fully guaranteed 3,634 492 1,975 388 50 50 550 28 5 34 2 15 Other bills discounted 3 »2So 37 2,356 84 26 10 48 32 13 57 570 3H 19 Total bills discounted 6,920 529 4,331 472 76 55 98 582 Hi 62 6o4 36 34 Bills bought in open market 4,671 344 1,795 474 444 173 16s 555 80 64 126 121 327 Industrial advances 32,696 2,944 7,764 6,873 1,786 4,442 934 1,849 400 1,666 1,139 1,789 1,110 U*S* Government securities: Bonds 215,615 1144,,442200 55,842 l6,s4s 19,070 10,209 8,240 25,623 9,420 12,961 9,51^ 16,033 17,43^ Treasury notes 1,641,602 107,636 498,307 120,S57 149,491 80,028 64,596 242,064 7 ^6 4 17s 73,132 47,293 136,674 Certificates and bills 572,958 35,615 137,668 39,^15 49,464 26,479 21,373 SS.002 24,434 1 7 5,^39 24,198 15,649 45,222 Total U.S.Govt, securities 2,430,175 157,671 741,817 177,120 218,025 116,716 94,209 355,689 108,200 75.578 106,844- 78,975 199,331 Other securities 181 _ —— — — _ — 181 — — Total bills and securities 2,474,643 161,4SS 755,707 184,939 220,331 121,386 95,409 358,675 108,721 77,370 108,894 80,921 200,802 Dae from foreign banks 650 4s 262 67 61 24 23 78 4 3 18 17 P.B.notes of other banks 20,039 ^,795 948 1,613 2,296 1,227 3»o4i 1,072 866 , 1.763 356 1,723 Uncollected items 657,595 67,265 161,976 52,428 59,571 53,568 22,265 9^,791 27,649 17,294 40,709 25,854 3^,225 Bank premises 50,308 3,16s 12,136 4,S30 6,632 3,028 2,331 4,967 2,628 1,580 3.H53 l,6s 6 3,869 All other assets 38,290 496 27,300 3,866 1,513 91S 1,501 529 256 443 265 821 382 TOTAL ASSETS 11,046,381 797,707 4,187,531 654,600 806,421 436,69s 311,673 1,927,294 388,889 253,9SS 374,026 244,490 663,064 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS Oil DECEMBER 18, 1935 (In thousands of dollars) 3-SOlc L I A B I L I T I ES Total Eos ton ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran. J.R.,notes in actual circulation 3,638,393 318,376 796,992 273,652 352,392 186,244 156,284 842,y33 162,539 111,391 1^1,988 75.405 280,197 Deposits: Member bank - reserve account 5,^6,894 325,133 2,544,900 269,537 319,029 164,527 101,826 83J,566 151,451 102,347 169,381 116,590 284,617 U.S.Treasurer - General account 632,79^ 56,596 362,025 15,544 ^0,375 15.310 12,520 57,-573 20,000 8,104 9,349 9,277 26.121 foreign bank: 2,298 12,544 3,160 3,033 1,181 1,1^3 3,703 952 766 260 830 2,234 32,71s Other deposits 248,110 3. 44o 187,^27 10.235 3.106 2,691 4,819 2,^65 9,^53 6,027 6S2 4.301 13,'45S Total deposits 6.350,514 327^67 3,106,896 298,526 365,543 183,709 120,31*+ 945,307 187,862 117,244 180,218 130,99s 326,430 Deferred availability items 650,308 67,666 157,090 51,003 57,133 51,817 21,819 96,163 22,246 16,510 42.026 27.523 33,246 Capital paid in 130,471 9,^30 51,000 12,332 12,315 ^,522 4,16s 11,999 3,752 2,997 3,910 3,776 10,204 Surplus (Section j) 144,893 9,902 49,964 13,^70 14,371 5,186 5,5^ 21,350 4,655 3,^20 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 so4 Reserve for contingencies 30,700 i,64s 7,500 2,995 3,000 l,4li 2,516 5,325 891 1,169 S3 6 1.363 2,046 All other liabilities 10.839 524 §si 408 278 2,826 397 254 293 336 H92 TOTAL LIABILITIES 11,046,381 797,707 4,187,531 654,600 806,421 436,698 311.673 1,927,29*+ 328,889 253,988 374,026 244,490 663,064 Ratio of total reserves to deposit and F.?-,note liabilities combined 77*7 30.0 22,6 71.2 72.0 69.I 68.3 81.9 70.9 68.4 67.9 65.3 69.6 Commitments to make industrial advances 27,691 3,356 10,012 822 1,632 2,233 507 163 2,265 139 1,353 596 4,613 MATURITY DISTRIBUTION OF BILLS A1ID SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to oO days 6l to 90 days Over 6 months 6 months Bills discounted 6,920 ^,673 56 260 777 1,15^ Bills bought ^,671 1,730 259 1,322 75^ Industrial advances 32.696 1,512 4iS 664 1,592 27,568 U.S.Government securities 2,430,175 3^,250 25,070 62,7^3 936 361,896 1,821,872 124,344 Other securities 1S1 1S1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH DECEMBER IS, 1935 (In thousands of dollars) BvSOld Total Boston Eew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn„ Sans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.H.agent 1+,022,187 3^.732 920,536 235,796 370,263 19S.239 175,39*+ 333,31+1 169,670 115,032 150,075 82,1+52 319.057 Held by Federal Reserve bank 323.79^ 28,356 123,5^ 12,ll+l+ 17,371 12.Q1+5 19,110 1+5,9Qg 7,131 3,691 3,037 7,Ql+7 38,860 In actual circulation 3.698,393 31S,376 796,992 273.652 352.392 186,2^4 156,231+ 81+2,933 162,539 111,391 1^1,9S3 75,^05 280,197 Collateral held by agent as security for notes issued to bank; Gold certificates on hand and due from U.S. Treasury 3.960,81+3 356,617 933,706 236,000 370,1+1+0 135,000 130,635 896,000 170,632 110,500 11+2,000 83,000 291,263 Eligible paper 509 2,630 1&5 50 1+5 38 550 33 56 591+ 29 15 U. S.Govt. securities 110,000 — __ __ 14,000 1+7.000 5,000 10,000 34,000 Total collateral H,075.887 357,126 9^1.336 286,1+1+5 370,^90 199,0^5 177,773 896,550 170,665 115,556 152,59^ 83,029 325,27s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis