H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PEESS Released for publication Board of Governors Friday morning, Dec, 27; of the Federal Reserve System not earlier. December 26, 1935 CONDITION OF FEDERAL RESERVE BJilTKS The daily average volume of Federal Reserve bank credit outstanding during the week ended December as reported by the Federal Reserve banks, was $2 519t000i000> an increase of $21,000,000 compared with the preceding week and f of $26,000,000 compared with the corresponding week in 193**• On December 2^, total Reserve bank credit amounted to $2,523,000,000, an increase of $40,000,000 for the week. This increase corresponds with an increase of $89,000,000 im money in circulation, offset in part by increases of $16,000,000 in monetary gold stoc£ and $6,000,000 in Treasury and national bank currency and decreases of $8,000,000 in member bank reserve balances, $5,000,000 in Treasury cash and deposits with Federal Reserve banks and $14,000,000 in nonmember deposits and other Federal Reserve accounts, . licabcr bank -.reserve balances on December 24- were estimated to be approximately $2,700,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discounted and purchased bills, industrial advances, and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 2^, 1935» were as follows* Increase or decrease since Dec* 2b Dec. 18 Dec 26 # ,1335... 197? .19.3H (In millions of dollars) Bills discounted 7 -2 Sills bought , 5 — -1 U. S. Government securities 2,^31 +1 +1 Industrial advances (not including 28 million commitments - December 24) 33 Other Beserve bank credit 1+8 +4o +37 TOTAL 5SSSEVE BANK CEEDIT 2,523 +4o +53 Monetary gold stock 10,Ilk +16 +1,886 Treasury and national bank currency 2,454 +6 ~4o Money in circulation 5.991 +89 +363 Member bank reserve balances 5.^29 -s +1,468 Treasury cash and deposits with F.B.banks 3,15^ -25 Nonmember deposits and other F.R.accotuats 525 -14 +93 3-801 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

leleased for publication Friday morning, December 2J 1935; not earlier. B-SOla f ASSETS AHD LIABILITIES 0? THE TWELVE FEDERAL HES3BVS BA11KS COMBINED (In thousands of dollars.) Dec, 2H„ Dec, 18,1935 Dec. 26 A S S S IS Oold certificates on hand and due fron U. S. Treasury • 7 >553-, 849 +7,553,852 5,122,396 Redemption fund - F. R-. motes • • • • 17.563 •17.633 13,952 Other cash * . 219,8,96 233.371 213,620 Total reserves . . . . . . .. 7-.791.303 7,304,356 5,354,968 Hedemption fund - 3\ R. bmk notes •» — —- 1,677 Bills discounted: t and/or fully guaranteed 3,782 3,634 4,320 • • • • • Other bills discounted* . 3,373 , 3,286 4.461 Total bills discounted . • . . 7.155 6,920 9»2S1 Bills bought in open marlcet M 57 4,671 5,611 Industrial advances • • 32,600 32,696 13,589 U. S. Government securities: 3onds • 216,172 215,615 395,582 Treasury notes . 1,641,597 1,641,602 1,507,1^1 Treasury bills . 572,95S. 572,958 5.2,7,475. Total U^S.Government securities, 2,430,727 2,430,175 2,430,19s Other securities 131 131 Total bills and securities * . 2,475,320 2,474,643 2,453,679 Due from foreign banks 665 650 304 2F. R. notes of other banks . * . . . 22,010 20,039 22,6l4 Uncollected items* . 602,470 657,595 452,135 3anlc premises . • 50,308 53,372 50,395 All other assets 32,732 38,290 43,064 TOTAL ASSETS . . . . 10,980,900 11,046,331 8,387,313 L I A B I L I T I ES P. R, notes in actual circulation 3,76s,4so 3,698,393 3.261,403 F. R. bank note circulation - net — — 26,603 Deposits: Member bank - reserve account 5.429,284 5,436,394 3,961,204 t U*S.Treasurer - General account 614,255 632,79^ l6s,114 Foreign bank* 32,250 32,716 19,582 Other deposits . * ... .. 233,, 2,4,0 248,110 16S,016 Total deposits . . 6,309,629 6,350,514 4,316,916 Deferred availability items 555,054 650*303 441,343 Capital paid in 130,469 130,471 146,752 Surplus (Section 7) « • * * 144,893 144,393 138.383 Surplus (Section 13b} . . . 23,707 23,457 6,459 Reserve for contingencies . 30,69s 30,700 22,272 All other liabilities . . . 17,970 17,645 26,632 TOTAL LIABILITIES 10,930,900 11,046,331 8,387,313 Ratio of total reserves to deposit and P. R* note liabilities combined 77-3% 77.7$ Contingent liability on bills purchased for foreign correspondents . . .. — — 675 Commitments to make industrial advances 27,745 27,691 8,225 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JfflB LIABILITIES OF THE FEDERAL RESERVE BAHKS OH DECEMBER 24, 1935 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from u. S. Treasury 7,553,849 519,294 3,175.704 375.587 508,992 243,4Sb 175,580 1,434,435 235,219 142,857 198,991 125.174 417,930 Redemption fund - F.R.notes 17,563 3.017 1,920 1,21b 1,090 1,067 2,889 57O 806 545 856 686 2,901 Other cash 219,896 29,937 45,911 29,453 l4,046 10,491 9,475 22,583 15,823 6,502 15.625 5,629 14,421 Total reserves 7,791,308 552,84s 3,223,535 406,256 524,128 255,044 187,944 1,457,588 251,84s 149,904 215,472 131,489 435,252 Bills discounted: Secured by U.S.&ovt. obligations, direct and/or fully guarante ed 3,782 677 2,323 473 10 45 75 100 18 — 59 2 — Other bills discounted 3,373 54 2,4I6 102 33 13 26 4i 15 58 571 19 25 Total bills discounted 7,155 731 4,739 575 43 58 101 l4i 33 58 630 21 25 Bills bought in open market 4,657 344 1,781 474 444 173 16s 555 SO 64 126 121 327 Industrial advances 32,600 2,943 7,75^ 6,819 1,788 4,44o 929 1,859 391 1,633 1,147 1,787 1,110 U.S. Government securities: Bonds 216,172 14,420 55,842 16,84s 19,069 10,209 8,240 25,623 9,420 13,019 10,014 16,033 17,435 Treasury notes 1,641,597 107,636 498,307 120,857 149,491 80,028 64,596 242,064 74,346 ^7.173 73,132 47,293 136,674 Certificates and bills 572,958 35,615 187,66s 39,415 49,464 26,479 21,373 88,002 24,434 15,439 24,198 15,649 45,222 Total U.S.&ovt. securities 2,430,727 157,671 741,817 177,120 218,024 116,716 94,209 355,689 108,200 75,631 107,344 78,975 :1 99,331 Other securities 181 — — — — — — — — — 181 — — Ifotal bills and securities 2,475,320 161,689 756,091 18V,988 220,299 121,387 95,407 358,244 108,704 77,386 109,428 80,904 ;2 00,793 Due from foreign banks 665 49 277 67 61 24 23 78 4 3 17 17 1+5 F.R.notes of other banks 22,010 344 4,990 869 1,207 2,751 977 4,385 1,767 1,180 1,258 394 1,888 Uncollected items 602,470 58,287 i4o,3i4 48,889 59,387 47,8^1 23,727 8S,734 28,856 16,098 32,893 23,H3 34,291 Bank premises 50,395 3,168 12,173 4,830 6,682 3,028 2,331 4,967 2,62s 1,580 3,453 1,686 3,s6q All other assets 38,732 498 27,893 3,818 1,445 906 1.4SS 528 243 44s 262 829 374 TOTAL ASSETS 10,980,900 776,883 4,165,273 649,717 813,209 431,021 311,897 1,914,524 394,050 246,599 362,783 238,432 16 76,512 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH DECEMBER 24, 1935 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. Cleve. liicli. Atlanta Chicago 3t .Louis Minn . Zans.Cy. Dallas San Fran, J.E.notes in actual circulation 3,768,480 322,535 SI4,3S3 277,9l4 362,738 137,27s 160,532 359,505 164,991 112,111 1^3,029 77,319 285,640 Deposits: Member tank - reserve account 5,^29,234 31^,739 2,552,621 266,859 319,706 163,611+ 104,152 870,580 164,865 99,732 170,135 116,595 285,576 U.S.Treasurer - General account 6l4,255 55,1+99 351,69U 16,449 39,868 17,^20 6,310 56,107 17,669 4,000 6,51+5 7,666 3l+,92S foreign bank 32,850 2,29S 12,677 3,160 3,033 1,181 1,149 3,703 958 766 860 830 2,2-55 Other deposits 233,240 2,905 177,133 10,18*1 3,156 2,243 5,529 1,783 7,759 6,1+30 60S l,<,64 13,546 Total deposits 6,309,629 375.^91 3,094,125 296,652 365,763 184,558 117,140 932,173 191,251 110,928 178,208 127,055 336,285 Deferred availability items 555,051+ 54,648 130,087 43,699 53,359 44,270 20,976 79,916 27,530 14,561 3l,74o 23,095 31,173 Capital paid in 130,1+69 9,1+30 51,001 12,333 12,299 4,588 4,i6s 12,009 3,760 2,996 3,912 3,775 10,19s Surplus (Section 7) 144,393 9,902 49,964 13,^70 14,371 5,186 5,540 21,350 4,655 3,420 3,613 3,777 9,645 547 Surplus (Section 13 b) 23,707 2,871+ 7,250 2,09s 1,007 3,335 754 1,391 1,003 1,142 1,252 1,054 Reserve for contingencies 30,§9S 1,61+8 7,500 2,995 3,000 l,4n 2,516 5,325 891 1,167 836 1,363 2,046 m All other liabilities 17^70 672 271 .„ 2,855 425 Jill._ _JlQ3_ 296 1+71. m. TOTAL LIABILITIES 10,980,900 776,883 4,165,273 649,717 813,209 431,021 311,297 l,914,524 39M50 246,599 362,783 238,432 676,512 Ratio of total reserves to deposit and E.R.note liabilities combined 77-3 79.2 82.5 70.7 71.9 68.6 67.7 81.4 70.7 67.2 67.1 64.2 70.0 Commitments to make industrial advances 27,7^5 3,353 9,997 s47 1,639 2,293 501 163 2,264 13s 1,353 593 M o4 MATURITY DISTRIBUTION OP BILLS AED SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Bills discounted H55 ^,592 207 94 l,04l 1,213 8 Bills bought 4,657 302 656 1,609 2,090 Industrial advances 32,600 1,529 339 653 927 1,855 27,297 U.S.Government securities 2,430,727 27,750 29,675 63,61s 120,384 362,169 1,827,131 Other securities 131 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT Oil DECEMBER 24, 1935 (In thousands of dollars) 3-801d Total 3oston Hew York phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. JCans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bankby ?.R.agent 4,062,539 3^8,330 929,867 289,582 375,152 198,658 179,3^3 898,712 172,985 H5,6l3 151,538 82,933 319.826 Held by Federal Reserve "bank 294,059 25,795 H5.^79 11,668 12,414 11,380 18,811 39.207 1,33^ 3,502 8,509 5,11* 3^,186 In actual circulation 3,768,480 322,535 814,388 277,914 362,738 187,278 160,532 859,505 164,991 112,111 143,029 77.819 285,640 Collateral held by agent as se~ curity for notes issued to bank: G-old certificates on hand and due from U. S. Treasury 3,976,843 356,617 938,706 290,000 376,440 186,000 133,685 911,000 173,632 106,500 i4o,ooo 80,000 284,263 Eligible paper 5.199 10b 3,016 540 10 45 88 100 23 50 610 11 U, S. Govt, securities 1?7,500 -- i4,ooo 47,000 10,000 13,000 3,500 40,000 Total collateral 4,109,542 357,323 9^1,722 290,540 376,450 200,045 180,773 911,100 173,655 116,550 153.610 83,511 32^,263 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis