H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb, 7; of the Federal Reserve System not earlier. February 6, 193&* CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank* credit outstanding during the week ended February^, as reported by the Federal Reserve banks, was $2,^92,000,000, an increase of $4,000,000 compared with the preceding week and of $29»000,000 compared with the corresponding week in 1935• On February 5 total Reserve bank credit amounted to $2,^89,000,000, an increase of $19,000,000 for the week. This increase corresponds with increases of $^9>000»000 in money in circulation, $6,000,000 in member bank reserve balances and $2U,000 000 in nonmember deposits and other Federal Reserve accounts and a f decrease of $11,000,000 in monetary gold stock, offset in part by a decrease of $73,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on February 5 were estimated to be approximately $3,090,000,000 in excess of legal .requirements. The System* s holdings of bills discounted increased $3,000,000 during the week, while holdings of bills bought in the open market and of industrial advances were practically unchanged. An increase of $S,000,000 in holdings of United States Treasury notes was offset by a decrease of $8,000,000 in holdings of Treasury bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February 5, 1936, were as follows: Increase or decrease since Feb. 5 Jan. 29 Feb. 6 jlsiL 1 m (In millions of dollars) Bills discounted 10 Bills bought 5 -1 U. S. Governmenlt securities 2,^30 Industrial advances (not including 27 million commitments - Febanmry 5) 32 Other Reserve bank credit 12 +6 TOTAL RESERVE MM CREDIT 2,489 +19 +23 Monetary gold &took 10,l6g -11 +1,7^7 Treasury and national bank currency 2^91 -l -12 Money in circulation 5,7^2 -A9 +335 Member bank reserve balances 5,369 +6 +1,236 Treasury cash and deposits with F.R.banks 2.95S -73 '+2S IJonmember deposits and other F.R.accounts 579 +21+ +157 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleased for publication Friday morning, February 7*1936; not earlier• B-SO.la ASSETS AHD LIABILITIES OF THE TWELVE FEDEEAL EESESVE BANKS COMBIEED (In thousands of dollars) Feb- 5,1936 Jan, 29.1936 Feb, 6,1935. A S S E TS Gold certificates on hand and due from U* S. Treasury 7$obk 237 7,643,860 5,445,101 9 Redemption fund ~ F. R. notes 16,259 15,685 16.559 Other cash 339*200 3^,64% 270,330 8,019,696 8,006,191+ Total reserves . . . .. 5.731.990 Redemption fund - F. R. bank notes . . . 1.759 Bills discounted: Secured by U#S.Gk>v*t obligations,direct and/or fully guaranteed 6,7^9 4,105 3,124 Other bills discounted 2,829 2.960 3,304 Total bills discounted 9.618 7,065 6,428 Bills bought in open market . . . . , 4,671 4,670 5,503 Industrial advances , „ . . , . . . , 31,965 32,148 17,824 U. S. Government securities: Bonds » * . . « » « » *• . . .. 215,721 215,696 395,630 Treasury notes . . . .. 1,624,918 1,616,559 1,511,666 Treasury bills ... 529,653 598,008 522,925 Total U 5, Government securities 2,430,292 2,430,263 2,430,221 # Other securities .181 181 Total bills and securities . . , 2,476,727 2,474,327 2,459,976 Due from foreign banks . . . . . . .. 650 650 805 F. R. notes of other banks 19,054 19,635 17,165 Uncollected items 470,583 477,480 416,543 49,336 Bank premises . . . . . . . . . . .. 47,79S 4477..779999 All other assets ... 39,605 45.286 TOTAL ASSETS 11,074,113 11,066,6S4 8,722,360 L I A B I L I F. R. notes in actual circulation 3,640,094 3.599,683 3,101,685 ?. R bank note circulation - net 25.627 # Deposits: Member bank - reserve aceount 5.868,769 4,632,647 U.S.Treasurer - General account ^0,2^7 478,03? 35.^ Foreign bank . 66,99S 49,631 13,424 Other deposits 162,6g4 To tal 6,632,662 6,642,518 4,344,189 Deferred availability items 482,746 411,155 130, 130,630 Capital paid in 146,868 Surplus (Section 7) . . . , 1*6>poi 145,501 144,893 Surplus (Section 13 b) . . , 26,406 26,406 12,351 33.901 Bes^rve for contingencies . All other liability • . • , %m •1 iMtl TOTAL LIABILITISS 11,074,113 11,066,664 Ratio of total reserves to deposit and Fp R note liabilities combined , t # 78.15s Contingent liability on bills purchased for foreign correspondents . . . .. Commitments to make industrial advances 26,621 27,004 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OP THE FEDERAL RESERVE BAMS ON FEBRUARY 5, 1936 (In thousands of dollars) B-SOlb A S S E TS Total Boston ITew York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from u. s. Treasury 7,664,237 531,933 3,^59,270 366,966 483,338 236,965 175,072 1,342,305 200,977 161,235 195,2^9 131,215 37S,507 Redemption fund - F. R. notes 16,259 2,866 1,962 90S S00 1,097 2,644 645 727 7&> 6l4 2,732 Other cash 339,200 4l,l0i 7S,964 39,S94 27,4>3 16,39s 13,953 44,752 19,:440 9,779 22,339 6,285 18,862 Total reserves 8,019,656 575,305 3,540,79b 407,768 511,571 254,460 191,669 1,3^7,702 221,144 171,512 218,34s 138,714 400,107 Sills discounted: Secured by U.S.Govt, obligations, direct and/or fully guaranteed 6,789 399 55,,111166 5599ss 30 75 116677 3 117744 114477 SS\\OO Other bills discounted 2,329 32 2,143 81 32 15 13 44ll 15 349 10 24 Total bills discounted 9,618 431 7,259 679 62 90 180 41 18 523 157 104 Bills bought in open market 4,671 34s l,737 472 44o 190 164 579 «7 61 133 133 327 Industrial advances 31,965 2,927 7,688 6,606 1,668 4,134 889 2,099 475 1*505 l,li4 1,730 1,130 U.S.Government securities: Bonds 215,721 14,427 55,252 i6,s4s 19,070 10,209 8,240 24,529 10,732 12,995 9,514 1166,,447700 1177,,443355 Treasury notes 1,624,918 108,438 496,291 121,744 150,605 80,624 65,077 206,877 25,252 47,535 73,677 51,100 137,692 Treasury bills 589,653 34,813 182,840 38,528 48,350 25.SS3 20,892 111,723 27,210 15,092 23,653 lb,405 44,204 Total U.S.Govt, securities 2,430,292 157,67s 734,383 177,120 218,025 116,716 94,209 343,189 123,200 75,622 106,844 S3,975 199,331 Other securities 181 — — — — — — — 181 — — Total bills and securities 2,476,727 161,384 751,067 184,877 220,195 121,130 95,442 345,90s 123,720 77,262 108,795 25,995 200,892 Due from foreign banks 650 50 258 63 60 28 23 78 4 3 19 19 2.R.notes of other banks 19,054 38O 5,437 64s 922 1,599 1,5«2 2,591 1,503 782 1,560 449 1,601 Uncollected items 470,583 50,077 122,122 36,225 42,420 32,739 17,210 60,624 23,444 10 97s 28,936 15,520 24,288 Bank premises 47,798 3,113 10,810 4,875 6,525 2,919 2,284 4,826 2,451 1,351 3,360 1,524 3,580 All other assets 39,605 138 30,324 3,515 1,349 964 1,218 264 150 m 245 785 128 TOTAL ASSETS 11,074,113 791,047 4,460,874 637,971 783,042 419,839 309,426 1,801,9933 72^76 262,533 361,263 243,006 630,641 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDSBAL BESEBVE BASKS Oil FSBHXJARY 5, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Lotiis Minn. ICans.Cy. Dallas San Fran. F,R.notes in actual circulation 3,640,094 31^,136 777,720 264,055 348,9^3 175^71 152,119 848,708 160,SS2 109,573 139,645 72,735 276,052 Deposits: Member bank - reserve account 5,868,769 387,5^0 2,841,597 290,823 3^2,533 185,149 120,520 812,630 169,240 124,190 179,315 125,029 289,553 U.S^Treasurer- General account 440,247 8,059 367,299 5,808 10,767 3.7S4 2,125 31.3W 1,634 3,261 1,815 2,655 1,696 4,454 Foreign bank 66,992 3,583 36,255+ ^593 2,130 1,695 5,616 1.452 1,162 i.4o4 i,4o4 3,3^1 Other deposits 256,648 4,o4s 197,119 4,4b5 3.SU3 1,986 3,737 2,525 7,956 5>73l 927 11,009 13,182 Total deposits 6,632,662 403,230 3,^2,269 305,599 361,61+7 193,0^9 128,137 852,115 180,282 134,344 124,121 140,097 307,772 Deferred availability items 458,986 49,393 119,551 35,112 ^1,299 36,732 16,03s 57,709 21,257 9 >7^5 27,817 19,903 23,9lS Capital paid in 130,684 9,'409 51,019 12,322 12,431 4,593 4,223 11,99S 3,753 3,0^5 3,931 3,790 10,150 Surplus (Section J) 1%,501 9,902 50,825 13,406 1^,371 5,186 5,616 21,350 4,655 3,613 3.7S3 9,645 Surplus (Section 13b) 2o,4o6 2,876 7,7^ ^,231 1,007 3,435 754 1,391 546 1,003 1,142 1,256 1,021 fie serve for contingencies 34,050 l,Ui3 8,849 3,000 3,lll 1,261 2,^38 7,573 S92 1,492 Si+3 1,329 1,849 All other liabilities 5,730 188 2,891 240 233 101 103 1,1^9 204 ___ 167 151 63 234 TOTAL LIABILITIES 11,074,113 791,0^7 4,460,874 637,971 7S3,o42 419,839 309,428 1,801,993 372,476 262,533 361,263 243,006 630,641 Eatio of total reserves to deposit and F.R.note liabilities combined 78.1 80.3 S3.9 71.6 72*0 69.0 6s.4 81.6 64.8 70.3 67.4 65.2 68.5 Commitments to make industrial advances 25,621 3,252 9,77*+ 53s 1,719 2,259 ^67 108 2,042 113 1,335 590 4,424 MATURITY DISTRIBUTION OP BILLS A21D SECURITIES 91 days to Total Within 15 days lb to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 9,618 7^13 132 1,^83 451 129 10 Bills bought M 71 742 459 848 2,622 Industrial advances 31,965 1,618 579 71S 369 1,700 26,981 U,S.Government securities 2,430,292 36,013 35,630 90,969 181,122 322,077 1,764,481 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON FEBRUARY 5, 1936 (In thousands of dollars) B-801d Total Boston New York PMla, Cleve. Rich, Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Frail. F©gLgi*£lX H©s6rv6 no s * Issued to F.R.bank by F.R.agent 3,961,896 338,988 919,704 281,878 363,686 183,969 172,921 881,081 167,686 113,18f 148,008 78,854 311,934 Held by Federal Reserve bank 321,802 24,852 l4l,984 17,823 1^,7^3 8,1+98 20,802 32,373 6,80% 3,609 8,363 6,069 35,882 In actual circulation 3,6140,091+ 3IM36 777,720 261+,055 3^8,91+3 175,^711 52,119 848,708 160,882 109,57s 139,645 72,785 276,052 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3.8SS 3l+3 356,617 938,705 283,000 366,1+1+0 173,000 132,685 884,000 147,632 114,000 138,000 79,000 275,263 4 Eligible paper 7,832 1+05 5,709 647 30 75 167 8 66 498 147 80 U. S. Govt, securities 125,000 11,000 1+2,000 21,000 — 11,000 — 40,000 Total collateral 4,021,175 357,022 944,415 283,61+7 366,1+70 iSi+,075 174,852 884,000 168,61+0 n4,o66 149,49s 79,1^7 315,343 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis