H.4.1 Factors Affecting Reserve Balances of Depository Institutions

$TATEM2£TT POR THE PRESS Released for publication Board of Governors Friday morning, Jan. yi\ of the Federal Reserve System not earlier # January JQ, CONDITION OF F3DSBAL R2S3RVE 9A33KS The daily average volume of Federal Reserve bank credit outstanding during tfee week ended January 29, as reported by the Federal Reserve banks, was $2,^88,000,000, an increase of $3,000,000 compared with the preceding week and of $22,000,000 compared with the corresponding week in 1$35* On January 2$ total Reserve bank credit amounted to $2,^70,000,000, a decrease of 57>000|000 for the week. This decrease corresponds with decreases of $11,000,000 in money in circulation and $62,000,000 in Treasury cash and deposits with Federal Reserve banks and an increase of $7#000,000 in monetary gold stock, offset in part by increases of $61,000,000 in member bank reserve balances and $6,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $6,000,000 in Treasury and national bank currency. Member bank reserve balances on January 23 were est&mated to be approximately $3,090,000,000 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 bills was affset by a decrease of $3 000,000 in holdings of United f States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January 29, were as follows: Increase or decrease since Jan. 29 Jan. 22 Jan. 30 1236 1935 (In millions of dollars) Bills discounted +1 Bills bought 1 U. S. Government securities Industrial advances (not including 27 million commitments - January 29) 32 +15 Other Reserve bank credit -1+ •g -3 TOTAL RESERVE BAM CEEpiT 2,^70 -7 +10 Monetary gold stock 10,179 +7 +1,792 Treasury and national bank currency 2,^92 -6 -5 Money in circulation 5.693 -11 +335 Member bank reserve balances 5.S63 +61 +1,321 Treasury cash and deposits with F R banks 3,031 -62 +2U # # Nonmember deposits and other accounts 555 +6 +119 (B S0l) r Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Seleased for publication Friday morning, January 31,1556; not earlier. B-801a ASSETS -A2TD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS OQUBXEXD (In thousands of dollars) Jan. 29,1936 Jan> 22.1936 Jan. 30.1935 A S S E TS Gold certificates on hand and due from U, S. Treasury 7,643,860 7,619.348 5.350,959 Redemption fund - F. R. notes . . . . . 15,685 16,126 15.875 Other cash 3^6,64a, 336.906 280.320 Total reserves 8,006,194 7,972,380 5,647,154 Redemption fund - F, R. "bank notes * « . 1,986 Bills discounted; Secured "by U.S.Gov't obligations,direct and/or fully guaranteed 4,105 3,644 3.558 Other bills discounted 2,960 2,776 ?,500 Total bills discounted 7,065 6,420 7,058 Bills bought in open market 4,670 4,657 5,53s Industrial advances . 32,I4S 32,210 17,493 U. S* Government securities: Bonds 215,696 215.703 395,652 Treasury notes . , » . . 1,63.6,559 1,619,653 1,511,693 Treasury bills . . 598,008 522,925 yft.908 Total U f S.Government securities . 2,430,263 2,430,264 2,430,270 Other securities . . . . . . . . . . .. 181 181 Total billg and securities . . .. 2,^7^,327 2,473.732 2,460,359 Due from foreign banks . . 650 663 805 F, R. notes of other banks 19,685 24,865 19,672 Uncollected items . . .. 477,480 535,717 411,130 Bank premises 47,799 ^7.797 49,307 All other assets 39i^28 48.444 TOTAL ASSETS . . . 11,066,664 11,094,582 8,638,857 L I A B I L I T I ES I, R. notes in actual circulation 3,599,683 3,608,049 3,068,172 F. R, bank note circulation - net — 25.697 Deposits: Member bank - reserve account . . 5,863,331 5,802,436 4,541,755 U,S .Treasurer - General account . 478,037 514,995 56,4gi Foreign bank 49,631 47,822 16,073 Other deposits . . . . . . . .. 251,519 248.106 178.l4i Total deposits 6,642,518 6,613,359 4,792,450 Deferred availability items , 482,746 533.058 412,710 Capital paid in . . . . .. , 130,630 130,653 146,870 Surplus (Section 7) . . .. 145,501 145,501 144,893 Surplus (Section 13 b) . . . 26,406 26,406 11,560 Reserve for contingencies . 33,901 33,901 30,820 All other liabilities . . . , 5,279 3.655 . 5,685 TOTAL LIABILITIES , . . , 11,066,664 11,094,582 8,633,857 Ratio of total reserves to deposit and F e R c note liabilities combined . . . , 78.3$ 78.C 71.8JS Contingent liability on bills purchased for foreign correspondents 317 Commitments to make industrial advances 27,004 27,091 n.739 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JffiD LIABILITIES OF THE FEDERAL RESERVE BAHIIS Oil JAtTUAHY 29, 1936 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Lcuis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 7,643,860 537,251 3,468,426 378,814 500,621 226,633 169,738 1,325,893 201,1U9 1^6,69U 187,692 129,5^7 371,^02 Redemption fund - F. S. notes 15,685 2»8g2 1»°5° 938 821 1,302 2,658 673 733 501 765 617 2,745 Other cash 3^6, 40,765 78,455 40,180 26,956 17,^80 l4.96o 45,701 21,405 10,330 22,442 6,729 21,246 total reserves S,006,194 580,898 3,5^7,931 ^19,932 528,398 245,415 187,356 1,372,267 223,287 157,525 210,899 136,893 395,393 Bills discounted: Secured by U.S.Govt, obligations, direct and/or fully guaranteed 4,105 299 2,868 392 15 125 107 3 69 1*7 80 Other bills discounted 2,960 57 2,195 87 33 13 12 ~~ 44ii 15 75. 398 9 25 Total bills discotmted 7,065 356 5,063 479 48 138 119 4i lg 75 467 156 105 3ills bought in open market 4,670 3^3 1,752 484 445 174 165 577 87 61 128 126 32s Industrial advances 32,148 2,933 7,705 6,6 7 4 1,702 M 3S 899 2,138 462 1,511 1,117 1,765 l,lo4 U.S.Government securities: Bonds 215,696 1144,,442200 55,252 16,848 19,070 10,209 8,240 2^,529 10,732 12,977 9.51^ 16,470 17^35 Treasury notes 1,616,559 107,707 493,439 120,935 1^9,590 80,080 64,638 207,571 84,686 47,214 73,180 50,755 136,764 Treasury bills 598,008 35,54^ 185,692 39,337 ^,365 26,427 21,331 111,089 27,782 15,^09 24,150 16,750 •jfotal U.S.Gov-t. securities 2,430,263 157,671 73^,383 177,120 218,025 116,716 94,209 3^3,189 123,200 75,600 106,844 83,975 199,331 Other securities ysi — .— — — — — — — 181 — Total bills and securities 2,474,327 161,303 743,903 :1 84,757 220,220 121,166 95.392 345,945 123,767 77,247 108,737 06,022 200,868 Due from foreign banks 650 50 250 69 63 25 24 SO 4 3 18 17 F.R.notes of other banks 19,685 381 6,647 552 1,064 2,410 1,708 2,403 791 644 1.371* 469 1,242 Uncollected items 477,480 52,113 123,825 38,183 44,295 36,383 16,405 64,963 20,480 12,492 27,074 17,837 23,^30 Bank premises 1*7,799 3,113 10,810 4,875 6 525 2,919 2,284 4,826 2,452 1,531 3,360 1,52^ 3,580 All other assets ^0,529 130 30,894 3,9^7 l,4i4 989 1,086 286 176 458 287 74O 122 TOTAL ASSETS 11,066,664 797,988 4,469,260 15 52,315 801,979 :4 09,307 304.255 ^L , 790, 7703 70,957 249,900 351,7^9 243,502 i6 24,682 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AtTD LIABILITIES OP THE FEDEBAL RESERVE BANKS ON JANUARY 29. 193 6 (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 3,599,683 308,134 771,478 263,45!+ 347,103 175.525 150.301 837,377 159,427 107,81+3 137,992 71.120 269,929 Deposits: Member "bank - reserve account 5,863,331 381,321 2,890,865 294,984 348,42127 3.^65 115.897 788,739 168,207 112,936 173,286 126,386 288,823 U.S.Treasurer - General account 478,037 25.773 3^9,950 8,523 23.380 5,546 4,499 47,861 3.211 1,591 2,51+6 3,239 1.918 Foreign bank 1+9,631 3.427 19.553 4,712 4,521 1,761 1,713 5,521 1,1+28 1,142 1,285 1,237 3.331 Other deposits 251,519 3.877 189,961 10,271 3,iU6 2,268 2,901 1,898 71,+83 5,123 771 10,^73 13.3^7 Total deposits 6,642,518 4l4,398 3,450,329 318,490 379,461983 ,o4o12 5,010 841+,019 180,329 120,792 177,888 141,335 307,419 Deferred availability items 482,746 51,754 127,647 36,722 4i+,129 36,185 15,981 66,006 21,116 12,375 25,837 20,587 24,1+07 Capital paid in 130,630 9,409 51,025 12,327 12,403 4,595 4,205 11,994 3,761 3,053 3,922 3,791 10,145 Surplus (Section 7) l45,£01 9.902 50,825 13,4o6 14,371 5,186 5,616 21,350 4,655 3,149 3,613 3,783 9,645 Surplus (Section 13b) 26,406 2,876 7,744 4,231 1,007 3,435 754 1,391 546 1.003 1,142 1,256 1,021 Reserve for contingencies 33.901 1,413 8,849 3,000 3»m 1,261 2,288 7,573 892 1,494 84J 1.328 1,849 All other liabilities 5*279 102 1,363 685 386 80 100 1,060 231 191 512 302 267 TOTAL LIABILITIES 11,066,664 797,988 4,1+69,260 652,315 801,979 409,307 304.255 1,790,770 370,957 249,900 351.749 243,502 624,682 Ratio of total reserves to deposit and F.R.note liabilities combined 78.2 80.4 84,0 72.2 72.7 68.4 68,1 81.6 65.7 68.9 66.8 64.4 68,5 Commitments to make industrial advances 27,004 3,260 9,873 652 1,712 2,263 475 109 2,120 135 1,351 590 4,464 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 7.065 4,789 132 1,398 585 148 13 Bills bought 4,670 651 322 1,271 2,426 Industrial advances 32,148 1*632 586 491+ 685 1.463 27,288 U.S.Government securities 2,430,263 37.317 31,025 110,710 178,275 245,316 1,827,620 Other securities 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JANUARY 29, 1936 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran. Federal Reserve notes: issued to F.^.-banic by F.R.agent 3,953,622 336,183 9 21,291 282,537 363,307 135,566 172,661 873,721 166,630 112,377 1^8,054 7S.91S 312,377 Held by Federal Reserve bank 353,939 28,0^9 149,813 19,083 l6,204 10,04l 22,360 36,3^4 7,203 4,534 10,062 7>79S 42,448 in actual circulation 3,533,683 308,134 771,478 263,454 347,103 175,525 150,301 837,377 159,^27 107,843 137,992 71,120 269,929 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. 3. Treasury 3,880,343 356,617 933,706 283,000 366,440 171,000 130,685 876,000 150,632 111,000 l4l,000 80,000 275,263 Eligible paper 5,153 33O 3,391 445 15 125 107 — 8 66 439 1^7 g0 U. S. Govt, securities 131,400 — — — — 16,000 47,000 — 18,000 2,400 8,000 — 40,000 T6tai collateral ^,016,896 356 947 942,097 283,445 366,455 187,125 177,792 876,000 168,64o 113,466 149,439 80,147 315,3^3 r Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis