H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS "Released, for publication Board of Governors Friday morning, Jan. 2*4; of the Federal Reserve System not earlier. January 23, 193& CONDITION OF FEDERAL RESERVE BANKS The daily average volteae of Federal Reserve hank credit outstanding during the week ended January 22, as reported by the Federal Reserve banks, was $2»Ug5,000,000, unchanged from the preceding week and $17,000,000 above the average for the corresponding Weak in 1935• On January 22 total Reserve bank credit amounted to ^ decrease of $2,000,000 for the week. This decrease corresponds with decreases of ^ $57,000,000 in member bank reserve balances and $1S,000,000 in money in circular * tion and increases of $lH000,000 in monetary gold stock and $6,000,000 in f Treasury and national ba*ik currency, offset in part by increases of §~J%0Q00Q0 f in Treasury cash and deposits with Federal Reserve banks and $12,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on January 22 were estimated to be approximately $3030,000,000 in excess of legal t requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $5,000,000 in holdings of United States Treasury bills was offset by a decrease of $5,000,000 in holdings of United States Treasury notes. Changes ip the amount of Reserve bank credit outstanding and in related items during the week and the year ended January 22, 1936, were as follows* Increase or decrease since Jan, 22 Jan. 15 Jan, 23 193$ , , im (in millions of dollars) Bills discounted 6 +1 -3 Bills bought U. S. Government securities 2,1+30 Industrial advances (not including 27 million commitments ~ January 22) 32 +16 Other Reserve bank credit k -9 +1 TOTAL RESERVE 1AWZ CREDIT 2.^77 -g +1U Monetary gold stock 10* 1,72 +1.S61+ Treasury and national bank currency 2.^98 +6 -2 Money in circulation 5,70^ -IS +357 Member bank reserve balances 5*S02 -57 +1,301 Treasury cash and deposits with F*R.banks 3,093 +75 +99 Nonmember deposits and other F.R.accounts 51+9 +12 +120 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, January 24,1936; not earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHKS COMBINED (In thousands of dollars) Jan. 22,1936 Jan, 15,1936 Jan. 23,19,35 A S S E TS Gold certificates on hand and due from U. S. Treasury 7,619,348 7,617,881 5,281,298 Redemption fund - F. R. notes 16,126 16,435 17.398 Other cash 336.906 327,896 286.400 Total reserves 7,972,380 7,962,212 5.585.096 Redemption fund - F. R. bank notes . .. — — 1.579 Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 3.644 2,637 5.29^ Other bills discounted 2,776 2.715 3.394 Total bills discounted . . . .. 6,1+20 5.352 8,688 Bills bought in open market 4,657 ^,657 5.539 Industrial advances 32,210 32,239 15,636 U. S. Government securities: Bonds 215,703 215.687 395.650 Treasury notes 1,619,653 1,624,598 1,506,688 Treasury bills 59^,908 589,958 527.925 Total U.S.Government securities . . 2,430,264 2,430,243 2,430,263 Other securities 181 181 — Total bills and securities . .. . 2,473,732 2,472,672 2,460,126 Due from foreign banks 663 663 805 F. R. notes of other banks 24,865 30,030 22,324 Uncollected items 535.717 601,917 446,365 Bank premises 47,797 47,786 ^9.306 All other assets 39,428 39.104 46.96l TOTAL ASSETS 11,094,582 11,154,384 8,612,562 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,60S,049 3,619,651 3,066,915 F. R. bank note circulation - net . . .. — — 25.683 Deposits: Member bank - reserve account 5,802,436 5,858,865 4,500,919 U.S.Treasurer ~ General account .. . . 514,995 461,638 *+9,155 Foreign bank 47,822 43,546 19,083 Other deposits 2^.106 240.949 169.073 Total deposits 6,613,359 6,604,998 4,738,230 Deferred availability items 533.058 589,917 444,405 Capital paid in 130,653 130,609 146,888 Surplus (Section 7) 145,501 145,501"' 144,893 Surplus (Section 13 b) 2b,4o6 2b,4(i>6 10,669 Reserve for contingencies 33,901 33, 90J7* 30,820 All other liabilities 3,655 3,395* 4.059 TOTAL LIABILITIES 11,094,582 11,154,384 8,612,562 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 78.0ja 7 7 7 1 . 6$ Contingent liability on bills purchased for foreign correspondents — — 317 Commitments to make industrial advances , 27,091 27,213 11,109 *Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MS LIABILITIES OF THE FEDERAL RESERVE BANKS OH JAMJARY 22, 1936 (In thousands of dollars) 3-801b A S S E TS Total Boston Kew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 7,619,3^-8 537,584 3,4l8,64l 407,028 497,846 226,920 169,391 l3l6512 192,094 1^9.679 192,804 127,691 383,158 r r Redemption fund - F.R.notes 16,126 2,914 1,276 996 895 1,483 2,742 307 755 513 796 643 2,806 other cash 336,906 4o„l63 7^,508 39,672 25,822 17,206 1^,339 44,249 21,432 10,032 22,021 6,452 20,960 Total reserves 7*972,380 580,661 3,^94,425 447,696 524,563 245,609 186,472 1,361,06s 214,281 160,274 215,621 134,786 406,924 3ills discounted; Secured by U.S.Govt, obligations, direct and/or fully guaranteed 3,644 137 22,,440033 285 15 105 82 500 3 — 4455 1100 Other bills discounted 2,776 53 l»97l 75 33 13 13 4i 15 SO 44§§ 9 25 Total bills discounted 6,420 195 4,374 360 48 118 95 541 18 so 502 54 35 Bills bought in open market M 57 343 1,739 434 444 x 165 577 61 128 126 328 , 75 Industrial advances 32,210 2,909 7,705 6,700 1,726 4,142 919 2,139 463 1.515 1,118 1,769 1,105 U.S.Government securities: Bonds 215,703 14,420 55,252 16,848 19,070 10,209 8,240 24,529 10,732 12,984 9,51^ 16,470 '17,435 Treasury notes 1,619,653 107,636 493,164 120*857 149,491 30,028 64,596 211,544 84,631 47,17s 73,132 50,722 136,674 Treasury bills 594,90s 35,615 185,967 39,415 49,464 26,479 21,373 107,116 27,837 15,439 24,198 16,723 45,222 Total u.s.Govtw securities 2,1+30,264 157,671 734,383 177,120 218,025 Il6,7i6 94,209 343,189 123,200 75,601 106,844 83,975 199,331 Other securities 181 — — — — — — — — — 181 Total bills and securities 2,473,732 l6i,ns 748,201 184,664 220,243 121,151 95,388 346,446 123,76s 77,257 108,773 85,924 200,799 Due from foreign banks 663 50 263 69 63 25 24 80 4 3 18 17 47 J«R.notes of other bajaks 24,865 374 3,945 831 1,528 2,651 1,334 2,809 1,606 1,011 2,134 496 l,l46 Uncollected items 535,717 52,436 123,561 41,262 47,505 53,929 25,254 70,126 25,355 13,50s 28,503 27,143 26,635 Bank premises 47,797 3,113 10,808 4,875 6,525 2,919 2,284 4,826 2,452 1,531 3,360 1,524 3,580 All other assets 39,423 i4o 30,049 3,629 1,382 985 1,090 354 I83 471 280 73s 127 TOTAL ASSETS 11,094,582 797,892 4,416,252 633,026 801,809 427,269 311,846 1,735,709 368,149 254,055 358,639 250,62s 639,258 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JANUARY 22, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3» 60S,0^9 307,220 77M53 262,469 346,629 175,^16 151,950 838,651 159.790 103,090 138,582 72,337 272,762 Deposits: Member bank - reserve account 5» S02,436 382,465 2,S49,426 302,088 340,574 175,698 112,003 766,237 157,^76 114,339 176,043 130,131 295,951 UJ5L.Treasurer - General account 514,995 25»3°7 3^3,739 31,409 27,53s 4,343 6,024 58,446 3,873 3.595 3,577 3,612 3,532 Foreign bank 47,322 3.^27 17»7^5 4,711 4,521 1,761 1,713 5,521 1,428 1,142 l,28g 1,237 3,331 Other deposits 24S,106 3,993 190,339 10,137 3,835 1.837 3,770 1,997 8,212 5.284 3,706 13,522 Total deposits 6,613,359 ^15,192 3.401,799 343,395 376,513 183.639 123,510 332,201 170,939 124,360 181,674 13s,6S6 316,396 Deferred availability items 533.058 51,805 120,674 33,921 4477,,^^1133 53,631 23,^57 71.710 27,317 12,755 28,714 29,330 27,226 Capital paid in 130,653 9,403 51,033 12,332 1122,,440044 ^,595 4,210 11,991 3,757 3,053 3,939 3.735 10,146 Surplus (Section 7) 145,501 9.902 50,325 13,406 1^,371 5,136 5.616 21,350 ^,655 3.1^9 3,613 3>7S3 9.645 Surplus (Section ljb) 26,406 2,376 7,7^ ^,231 1,007 3,^35 754 1,391 546 1.003 1,142 1,256 1,021 Reserve for contingencies 33,901 1.413 3,849 3,000 3,111 1,261 2,283 7,573 332 1,494 S43 1.32S 1,849 All other liabilities 3,655 76 1,175 272 251 106 61 842 203 151 1S2 123 213 TOTAL LIABILITIES 11,094,532 797.892 4,4i6,252 623,026 301,809 427,269 311,346 1,785,709 363,149 254,055 358.639 250,62s 639,25s Ratio of total reserves to deposit and F.R.note liabilities combined 78 .0 S0.4 S3.7 73.3 72.5 68.4 67*7 31.5 64.3 63.9 67.3 63.9 69.1 Commitments to make industrial advances 27,091 3,236 9r* Ctrl 627 1,712 2,263 433 153 2,121 135 1.351 590 4,477 jOOO MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over b months 6 months Bills discounted 6,420 4,049 71 927 1,221 142 10 Bills bought 4,657 2,699 552 444 962 Industrial advances 32,210 1,759 277 774 717 1,^33 27,250 U.S.Government securities 2,430,264 27,605 36,013 103,925 183.725 23s,o4i 1,335.395 Other securities 181 131 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JAMJARY 22, 1936 (In thousands of dollars) 3-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: 1 Issued to F,R„bank by F.R,agent 3,965,^91 3^1,003 917»9S+ 233,1+99 361,766 186,9^9 173,604 872,^05 167,099 112,931 1^S,323 79.1^3 31^,7SO Held by Federal Reserve bank 357.^2 33,782 143,831 21,030 15,137 11,533 21,654 39,75^ 7,309 9,7^1 6.806 42,018 In actual circulation 3,608,049 307,220 774,153 262,469 346,629 175,4i6 151,950 838,651 159,790 108,090 138,582 72,337 272,762 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,904,343 35°,Sl7 938,706 290,000 366,440 171,000 130,685 891,000 142,632 112,000 l4l,000 80,000 284,263 Eligible paper 4,565 170 2,756 325 15 105 82 500 8 72 bjj 45 10 IT. S. Govt, securities 133,400 l6,000 47,000 — 25,000 2,400 8,000 35,000 Total collateral 4^2,308 35^,787 9^1,^62 290,325 366,^55 187,105 177,767 891,500 167,640 114,472 149,477 80,045 319,273 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis