H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released for publication Board of Governors Friday morning> Jan. 10; of the federal Beserve System not earlier* January 9» 193^. CONDITION 01 IEDEHAL HESS1VE BAMS The daily average volume of Federal Beserve bank credit outstanding during the week ended January S as reported by the Federal Beserve banks, was t $2 Mo ,000,000, a decrease of $8,000,000 compared with the preceding week and an Increase of $16,000,000 compared with the corresponding week in 1935• On January 8 total Beserve bank credit amounted to $2,^76,000,000, a decrease of $10,000,000 for the week. This decrease corresponds with decreases of $99i000,000 in money in circulation, $58,000,000 in Treasury cash and deposits with Federal Beserve banks and an increase of $21,000,000 in monetary gold stock, offset in part by increases of $158,000,000 in member bank reserve balances and $10,000,000 in nonmember deposits and other Federal Beserve accounts. Member bank reserve balances on January 8 were estimated to be approximately $3,000,000,000 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 Beserve bank credit outstanding and in related items during the week and the year ended January 8, 193^» were as follows: Increase or decrease since Jan. 8 Dec. 31 Jan. 9 (In millions of dollars) Bills discounted 5 -2 Bills bought 5 -1 U. S Government securities 2,430 # Industrial advances (not including 27 million commitments-January 8) 32 +17 Other Heserve bank credit 3 -10 -6 TOTAL EESEJIVE BAITK CREDIT 2.1+76 -10 Monetary gold stock 10,144 +21 +1,886 Treasury and national bank currency 2,476 -32 Money in circulation 5,723 -99 Member bank reserve balances 5,745 +158 Treasury cash and deposits with banks 3,01+9 -5s -45 Uonmember deposits and other J.B. accounts 518 +10 +82 B-801 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleased for publication priday morning, January 10,1936; not earlier, B-801a ASSETS AND LIABILITIES 03? THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Jan., g,l^S Dec, A S S E TS Gold certificates on hand and due from U. S. Treasury 7.552,273 7/553.357 5.162,076 Redemption fund - P. R. notes 17#170 17,444 19,060 Other cash . 303»64l 264,550 287.644 Total reserves . . . . .. 7,273,690 7>S35,351 5,1+68,780 Redemption fund - I. R. bank notes . .. . 1,964 Bills discounted: Secured by U#S.Gov't obligations, direct and/or fully guaranteed , 2,35S 1.5^1 3,588 Other bills discounted . . 3,023 llx31 3.^06 Total bills discounted . 5,3S1 4,672 6,994 5,611 Bills bought in open market h 656 656 § Industrial advances . . . . .. 32,014 32,^93 i4, 7 44 U. S* Government securities: Bonds 215,672 216,176 395,662 Treasury notes . , . . l,6Ul,603 1,641,597 1,507,117 Treasury bills . . . . 572.958 572,958 Total U»S«Government securities . . 2,430,239 2,430,731 2,430,254 Other securities . Ipl 181 f Total bills and securities 2,472,471 2,472,733 2,457,603 805 Due from foreign banks . . 665 665 F. R. notes of other banks . . . . . . .. 30.50S 27,445 24,489 Uncollected items * . . . ^§9t777 603,789 428,403 Bank premises 47,740 47,723 ^9,190 All other assets . . 38.082 , , 38,094 w,850 TOTAL ASSETS 10,9^2,933 11,025*800 8,476,084 L I A B I L I T I ES R. notes in actual circulation . . . . 3,655,764 3.709,074 3.136,987 3P. R. bank note circulation - net . . . . 26,185 Deposits: Member bank - reserve account 5•7^5t5,587,208 4,282,546 U.S.Treasurer - General account 460,828 543,770 80,137 Foreign bank 34,S81 28,935 19,114 Other deposits . 229,765 22j5»S96 174,725 Total deposits . .. 6,470,620 6,385,809 ^,556,522 Deferred availability items . . 497,233 591.556 419,920 Capital paid in 130,516 130,512 i46,s44 Surplus (Section 7) 145,772 145,772 144,293 10,496 Surplus (Section 13b) 26,334 *24,235 Reserve for contingencies . . . . . . .. 33.692 *3M67 30,si6 All other liabilities 3^002 3.975 T Om LIABILITIES 10,962,333 11,025,800 8,476,084 Hatio of total reserves to deposit and. F.B. note liabilities combined . . . . .. 77.8/i 77«6?e 71,1^ Contingent liability on "bills purchased for foreign correspondents 87s Commitments to make industrial advances , 27,284 27,649 10,375 •fievised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A1TD LIABILITIES OP THE FEDERAL EE SERVE BAMS ON JAUUARY 8, 1936 (Ixi thousands of dollars) B-801b A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Eran. Sold certificate® cn hand and due from U.S. Treasury 7.552,873 545,455 3,299,760 383,672 500.930 22^53 166,278 1,368,989 191,25+3 149,4io 193.563 129,301+ 399,816 Redenrotion fund - J.R.notes 17,170 2,963 1,632 1,107 1,017 1,^19 2,S4l I+76 787 532 84l 675 2,880 0ther* cash 303,647 36,2*+! 64,882 37,470 22,097 15,708 13.772 37.821 20.112 9.687 20.817 6.711 18,125 Total reserves 7.873,690 58*+,.659 3.366,274 422,249 524,044 241,^80 182,891 1,407,288 212,142 159,629 215,221 136»6Q2 421,021 Bills discounted: Secured by U.S.Govt. obligations, direct and/or fully guaranteed 2,358 247 1,608 271 45 75 3 — 64 ^5 —— Other bills discounted 3,023 25 2,177 123 33 13 13 **"" 44ii 15 42 507 9 25 Total bills discounted 5,381 272 3,785 394 33 58 88 4i IS 42 571 54 25 Bills bought in open inaricet 4,656 343 1,738 4s4 444 175 165 577 87 61 128 126 328 Industrial advances 32,014 2,919 7,7^7 6,703 1,7^5 44,127 922 1.825 428 11,,5577^^ 11,,113388 11,,777788 1,108 U. S. <k>vernment securities: Bonds 221155,,667788 1144,,442200 55,252 16,848 19,070 10,209 8,240 24,529 10,732 12,959 9,514 16,470 17,435 Treasury notes 1,641,603 107,636 493,164 120,857 149,491 80,028 64,596 233,%4 SM31 47,178 73,132 50,722 136,674 Treasury bills 572,958 35.S15 185,967 39,415 49,464 26.479 21.373 8*5. l66 27.837 15.419 24.198 l6.781 45.222 Total U.S.Govt. securities 2.430,239 157.671 734,383 177,120 218,025 116,716 94,209 343,189 123,200 75,576 106,844 83,975 199,331 Other securities 1S1 — — — — — — — — • 181 Total bills and securities 2,472,471 161,205 747,653 184,701 220,247 121,076 95.384 345,632 123,733 77,253 108,862 85,933 200,792 Due from foreign banks 665 50 265 69 63 24 SO 4 3 IS 17 47 E.R.notes of other banks 30,50s 364 9,556 1,136 1,838 4,407 2,133 3,57s 1,464 1,064 1,917 387 2,664 Uncollected items 499,777 52,717 121,04l 39,969 43,420 40,902 18,481 69.031 25,860 12,469 28,911 18,382 28,594 Bank premises 47,740 3.113 10,781 4,845 6,525 2,919 2,284 4,826 2,452 1,531 3,360 1,524 3,580 All other assets 38,082 131 28,663 3,578 1,324 9S5 1,130 455 185 467 249 785 130 TOTAL ASSETS 10,962,933 802,239 4,284,233 656,547 797,^61 411,894 302,327 1,830,890 365,340 252,416 358,538 243,720 656,82s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OP THE FEDERAL EESERVE BAMS OH JANUARY g, 193$ (In thousands of dollars) B-801c L I A B I L I T I ES Total Boston ITew York phila. Cleve, Eich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran. F.E.notes in actual circulation 3,655,70+ 311,585 791.420 266,560 350,031 176,257 154,o4o 842,666 160,970 109,396 139.837 74,238 278,764 Deposits: Member bank - reserve account 5,7^5,1^ 376,259 2,76l,S92 296,615 332,665 169,5+73 110,330 823,354 ll+S,qU3 112,161+ 176,174 130,870 305,807 U.S.[Treasurer - General account 46o,S28 30,773 30S,335 6,562 33,56s 8,134 3,527 46,234 lOy&lO 2,095 2,74s 3,019 5,423 Foreign bank 3^,ssi 2,521 12,755 3,466 2: ,3 26 1,295 1.260 4,061 1,050 s4o 945 910 2,452 Other deposits 223,765 3,639 170,991 10,51+2 ,372 2,296 2,797 2,163 8,004 6,669 731 2,s4o 14,721 Total deposits 6,470,620 413,732 3,253,973 317.185 373,931 181,19s 117,914 875,812 168,407 121,768 180,598 13:7.639 328,403 Deferred availability items 497,233 53,190 119,307 39,636 42,4o4 39»965 17,489 69,624 26,415 12,371 28,371 21,665 26,7^6 Capital paid in 130,516 9,433 51.051 12,331 12,383 4,593 4,170 11,978 ,75S 2,997 3,922 3.773 10,127 Surplus (Section 7) 145,772 9,902 50 7, , 7 8 4 2 4 5 13,406 14,371 5,186 5.016 21,350 I .655 3,420 3,613 3,733 9,645 Surplus (Section 13b) 26,334 2,876 4,231 1,007 3,363 754 1,391 546 1,003 1,142 1,256 1,021 Eeserve for contingencies 33,632 1,413 8,849 3,000 3,lll 1,261 2,288 7,573 892 1,287 S4l 1,328 1,849 All other liabilities 3,002 48 i,o64 19s 223 7L 56 496 197 174 214 38 223 TOTAL LIABILITIES 10,96*2,933 802,239 4,284,233 656,^47 797,461 411,894 302,327 1,830,890 365,840 252,4i6 358,538 24:3,720 656,828 Satio of total reserves to deposit and F.E.note liabilities combined 77*8 80.6 83.2 72.3 72.4 67.6 67.3 81.9 64.4 69.I 67.2 64.5 69.3 Commitments to make industrial advances 27,284 3,321 9,907 701 1,606 2,284 496 155 2,211 13s 1,351 593 4,521 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Bills discounted 5.3S1 3,028 27 203 1,85s 257 8 Bills bought 4,656 656 1,151 597 2,252 Industrial advances 32,014 1,582 382 886 738 1,327 27.049 U.S.Government securities 2,430,239 29,675 27,605 71,643 104,069 372.937 1,824,310 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL EES2BVS HOTE STATEMENT ON JANUARY 8, 193$ (In thousands of dollars) B-SOld Total Boston Hew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank "by F.R.agent 4,021,577 348,230 921,231 286,711 366,717 192,306 177,116 892,488 169,450 115,413 150,25s SI,381 319.676 Held by Federal Reserve bank 365.813 36.6^5 130,411 20,151 16,686 l6,049 23,076 49,822 8,480 6,017 10.421 7,1^3 40,912 In actual circulation 3,655.764 311,585 791,420 266,560 350,031 176,257 154,o4o 342,666 i6o,970 109,396 139,837 74,23 s278,764 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from u. s. Treasury 3,934,843 356,617 938,706 290,000 371,44o 174,000 133,685 911,000 143,632 111,500 137,000 78,000 289,263 Eligible paper 3,1*27 247 2,064 359 — 1+5 75 — 8 33 551 45 U. S. Govt. securities 152,000 — 19,000 47,000 — 27,000 5,000 l4,000 5,000 35,000 Total collateral 4,090,270 356,864 9^0,770 290,359 37l,44o 193,045 180,760 911,000 170,640 116,533 151,551 83,045 324,263 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis