H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PEESS Eeleased for publication Board of Governors Friday morning, Feb 21; of the Federal Reserve System # not earlier. February 20, 193& C01TDITI01T OF FEDEBAL BESSHV3 BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended February 19 as reported by the Federal Reserve banks, was f $2,50^,000,000, an increase of $8,000,000 compared with the preceding we^lf and of $38,000,000 compared with the corresponding week in 1935• On February 19 total Reserve bank credit amounted to $2,505,000,000, a decrease of $3,000,000 for the week. This decrease corresponds with decreases of $lU,000,000 in Treasury cash and deposits with Federal Reserve banks and $36,000,000 in nonmeniber deposits and other Federal Reserve accotmts and incre&sos of $5000,000 f in monetary gold stock, and $3,000,000 in Treasury and national bank currency, offset in part by increases of $US,000,000 in member bank reserve balances and $8,000,000 in money in circulation* Member bank reserve balances on February 19 were estimated to be approximately $3,0^0,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $4,000,000 in holdings of United States Treasury bills was offset by a decrease of $4,000,000 in holdings of Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February 19, 193^, were as follows: Increase or decrease since Feb. 19 Feb. 12 Feb. 20 1936 19?6 1935 (In millions of dollars) Bills tm$tiiL f Sil3Ls bcragkfe f -i V. saettril&Gs Industrial advances (not including 27 million commitments - February 19) 32 —- +1 Other Iteserve "bask crodit 32 _ -1 ^ TOTAL E S S E C 2 3 D I E -3 457 Monetary go!4 stads 45 fraagtxty and n&ticm&l t t ^ i^ fj -23 Money in circulation 5»771 +S 4-329 Member bank reserve balances 5>S32 +US +1,1S7 Treasury cash and deposits with F.R.banlis 2,979 -i1! '+^7 Nonnieinber deposits and other F.R.accounts 5S2 -36 +1^2 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 21,1936; not earlier, B-SOla ASS3TS A1JD LIABILITIES • OF THE TflELVE FEDSHAL RESERVE BAHSS COMB IITED (In thousands of dollars) Feb, 19>1936 Feb, 12,1936 Feb, 20,1935 A S S E TS G-old certificates on hand and due from U» S. Treasury 7.670,230 7,661,223 5,516,031 Redemption fund - F. E. notes . 15,367 15,920 15»s52 Other cash • » * • • 3*H.978 3371337 253,317 Total reserves . . . . . 2,027,575 soib kso f 9 5,785.250 Redemption* fund - F. E bank notes • . . # 250 Bills discounted: Secured by TJ*S,Gov?t obligations, direct and/or fully guaranteed . . 3.7SO 5,1^2 2,719 Other bills discounted . . # 2,807 2,876 , 3,207 Total bills discounted 6,537 8,018 5,926 Bills bought in open market , M73 5,501 Industrial advances 31,S6S 31,801 18,729 U. S. Government securities: Bonds • » . . • »• 215,635 215,681 395,7^8 Treasury notes , 1,622 1,626,808 1,511,675 Treasury bills 592.011 537,752 522,925 Total U«S» Government securities 2,1+30,2U0 2,^30,2ln 2,^30,31*8 Other securities 181 181 Total bills and securities • . « 2,^73.5^9 2,^,915 2,46o,5o4 Due from foreign banks 61+8 646 S07 3P# R. notes of other banks 18,552 17,653 18,6^9 Uncollected items 559,987 564,697 Us2,633 Bank premises . .. ^7,799 *+7,799 ^9,1+36 All other assets , 39,016 1+5,8iU TOTAL ASSETS . . . 11,167,126 11,159,572 8,81+3,3^3 L I A B I L I T I ES F. R # notes in actual circulation 3,664,670 3,656,138 3,127,655 F # H. bank note circulation - net — — 1,21+2 Deposits: Member bank - reserve account . 5,832,0^8 5,753,Sl4 4,644,795 U.S.Treasurer - General account 1+72,821 1+81,816 38,1+22 Foreign banic 51,865 67,998 13,629 Other deposits • . * 275a7S . 296,053 17s,975 fptal deposits . . ? f • 4652,112 6,629,681 Deferr^ availability ifceias • , # 52SVSS5 532,326 ^95,913 •* » T *+ ** « 156*713 13P,?03 146,953 k 9- * 3S5.5C4 3&M95 Sorpliss (Section 26,419 &SM 12,751 Eeserve for contingencies 3^,111 3^.0^7 30,821 All other liabilities » . * .. V77.9. 7,296 T0IA1 IiIiSIUTIES 11,167*126 11,$59,572 8,81+3,3*+3 Baiio «£ tofetl ret^rvee fc* j, B. ndfce l-laEbtliSiss Coiobiiiaa » , 7S.35& Contingent liability on "bills purchased for foreign correSpoadents * • — — 366 Comitments to make industrial advances 26,893 26,562 12,91+0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDEBAL HESE&YE BAHKS Off YMWAm W, 1936 (In thousands of dollars) B~801b A S S E TS Total Boston Hew York Phila. Cleve. Bich Atlanta Chicago St Laute Minn. Xan$*Cy Dallas San Fran, # # # Gold certificates on hand and due from u. S. Treasury 7,670,230 512,70s 3,^91,737 352.307 ^95,615 226,770 173,Sl6 1,3^1,911 200,^6 IjSM&S 195,515 13^2^ 3SSU9S t Redemption fund - F. E. notes 15,367 2,83*+ 1,7^7 835 70S 2,597 552 % ^ 743 599 2,717 % Other cash 3^1,978 ^2,2^1 82,675 Ui0S7 28,^9 16,123 13,871 &*1®* 5.996 16,99^ t Total reserves 8.027,575 557,7S3 3,576,159 39^,729 52^,772 2^3,7^0 190,2SH 1,356,00® 820,105 218,^6 lUo,8Uo 408,209 Bills discounted: Secured by U.S.Govt, obligation* direct and/or fully guaranteed 3,780 3S 2,82U 1+65 35 IK) 137 3 — 65 52 120 Other bills discounted 2,307 33 2,168 79 32 15 12 15 79 272 27 Total bills discounted 6,527 71 ^,992 5I+5 67 55 1U9 Hi IS B 337 79 154 Bills bo-ught in open market M73 3^9 1,739 '472 H-Uo 190 163 379 87 61 133 133 327 Industrial advances 31,868 2,915 7,678 6,522 1,603 U,131 885 2,075 ^ 1.580 1,191 1,73^ l.iHo U.S.Government securities: Bonds 215,6SB ibMl 55.252 lb,8^+8 19,070 10,209 8,2^0 10,732 12,958 q.51'4 16,560 17,^35 Treasury notes 1,622,5^4 108,935 501,^65 122,350 151,366 81,031 65,UO6 123,992 S5.6S6 l*7,T5* 74,049 52,069 138,3S7 Treasury bills 592,011 34,26s 177,566 37,922 47,529 20,563 123,?3£ 26,782 23,281 16,371 Total U.S.Govt, securities 2,^0,2*40 157.678 73^,383 177,120 212,025 116,716 9^209 3^2,1^ 123.200 75*510 106Si& 35,000 199.331 t Other securities 1S1 — —- — — — — 181 — Total bills and securities 2,^73,5^9 l6l,013 7^8,792 lfifr 659 220,135 121,092 95.^06 3^*^59 1^3.779 7?*^JQ 10S,6S6 S6,346 200,952 f Due from foreign banks 6kS 50 256 63 SO 28 23 JB k 3 19 19 ^5 F.H.notes of other banks 12,552 M98 681 1*383 1.371* I.663 2,632 1.9% 1,^2 333 1,230 Uncollected items 559,987 57.252 1^6,7^1 ^,557 51,6^1 ^,018 21,871 T7»5*3 21,6a 26,303 22,67s 27,650 Bank premises ^7.799 3,113 10,810 4,875 6,525 2,919 2,28^ 2,452 3.360 l 52U 3,580 r All other assets 39,0l6 ib6 29,566 3,578 1,389 981 1,300 210 177 293 759 1^1 TOTAL ASSETS 11,167,126 779.758 4,517,222 633,1^2 805,905 v41^,152 312,831 1,816,126 370,OS? 262,^ 360,559 253.099 0H»SO7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH F3BE0A3T 19, 193$ (In thousands of dollars) B-801c L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kails .Gy. Dallas San Fran,. F.R.notes in actual circulation 3,66^,670 32^,662 776,539 268,927 35^,222 17^,237 153,328 852,291 161,019 109,123 139,376 72,822 27S,12H Deposits: Member bank - reserve account 5,832,01+s 359,SZk 2,836,767 277,726 350,801+ 173,890 118,985 821,692 165,589 122,951 176,1+82 130,879 296,299 U.S.Treasurer ~ General account 1+72,821 6,719 1+07,1+83 U,9S7 12,796 2,9S1 2,^07 20,869 2,1+10 3,52S 2,073 2,761+ Foreign "bank 51,S65 3,583 21,121 ^,503 i+,i+5l+ 2,130 1,695 5,616 1,^52 1,162 l.Uofc i,i+oi+ 3,3^1 Other deposits 5,395 21M3U 3,1^7 3,168 2,698 7*511 10,S01 12,375 Total deposits 6,632,112 375,681 : 5,1+80,205 290,363 371,222 181,699 128,191+ 851,195 132,303 12^,352 1^,157 jiKm Deferred availability items 528,885 55,63!+ 11+0,516 1+0,632 1+9,2S6 1+3,601+ is,093 6S,9S0 12,161 27,086 2H,SSl+ 25,963 Capital paid in 130,713 9,i+oi+ 51,016 12,326 12,1+23 ^,597 12,037 3,0^1+ 3,930 3,793 10,152 Surplus (Section J) 1^5,501 9,902 50,825 13,1+06 1^,371 5,IS6 5,616 21,350 3,1*9 3,&3 3,7^3 9,61+5 Surplus (Section 13b) 26,1+19 2,376 7,7^ 4,231 1,007 3,1+1+S 75^ i,39i 1,003 1,1^2 1,256 1,021 Reserve for contingencies 3l+,lll 1,^13 S,Sl+9 3,000 3,lll 1,261 2,509 7,573 1,^83 si+3 1,328 l,S*+? All other liabilities 715 1S6 1,52s 257 263 120 103 1G2 217 Zi TOTAL LIABILITIES 11,167,126 779,758 >+,517,222 633,1^2 305,905 ^,152 312,S31 I,si6,ia6 370^7 262,1+32 360,559 253,099 61+1,207 Ratio of total reserves to deposit and F.R.note liabilities combined 78.0 79.6 si+.o 70.6 72.3 68.5 67.6 S1J+ 65a 69,0 67*5 61+.6 68*8 Commitments to make industrial advances 26,893 3,393 9,723 539 1,721 2,290 396 106 2,005 ilk 1,575 590 4,1+37 MATURITY DISTRIBUTION OF BILLS ABD SECORIflSS 91 ddfs t© Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 moatikg 1+ Bills discounted 6,587 1+,5S0 769 7*7 360 87 Bills bought l+,673 1,190 703 1,9^7 833 Industrial advances 31,868 1,81+0 2l+5 S35 1+55 1,67S 27,035 U.S.Government securities 2,1+30,21+0 35,630 1+5,730 175,526 1+6,816 3l6,!+59 1,810,079 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ZEDEHAX, RESERVE 110IS SEAUHIEBT OH FEBRH&ST 19, 1936 (in thousands of dollars) B-SOld Total Boston Hew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to FJl.bank by FJl.agent 3,95^,159 3^2,OSl 887,461 284,219 369,940 182,884 173.3^7 S86.532 163,080 112,935 1^7»9SS 7^,350 320,362 Held by Federal Reserve bank 289,4S9 17,399 110,922 15,292 15,718 2,647 20,019 34,241 7,06l 3,812 8,612 5*528 42,238 In actual circulation 3,654,670 324,662 776,539 26s,927 35^.222 17^.237 153,328 852,291 161,019 109,123 139.376 72,822 278,124 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,584,343 356,617 905,706 284,500 370,440 176,000 132,685 894,000 150,632 114,000 11+3,000 79,000 278,263 Eligible paper 4,914 3,560 512 35 4o — s 61 319 69 12s 118,000 8,000 x 137 18,000 U. S. Gov't securities — 42,000 — — 7,000 — 43,000 Total collateral 4,007,757 356,662 909,266 285,012 370,475 is4,o4o 174,822 894,000 i6g,64o ii4,o6l 150,319 79.0^9 321,391 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis