H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMStlT FOR THE PRESS Released for publication Board of Governors Friday morning, Feb. 2S; of the Federal Reserve System not earlier February 27, 1936 C01IDI2I01T OF FEDERAL RESERVE B£BKS The daily average volume of Federal Reserve bank credit outstanding during the week ended February 26, as reported by the Federal Reserve banks, was $2,Ug2,000,000 a decrease of $22,000,000 compared with the preceding week and an r increase of $29,000,000 compared with the corresponding week in 1S35- On February 26 total Reserve bank credit amounted to $2,^75,000,000, a do- . crease of $30,000,000 for the week* This decrease, corresponds with decreases of $30,000,000 in Treasury cash and deposits with Federal Reserve banks and ^,000,000 in nonmember deposits and other Federal Reserve accounts and increase® of $3,000,000 in monetary gold stock and $"3,000*000 in Treasury and national bank currency, offset in part by increases of $5,000,000 in money in circulation and $7 000,000 in member bank reserve bal^&ces* Member bank reserve balances on Februrf ary 26 were estimated to be approximately $3,060,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discounted and purchased bills» industrial advances and United States Government securities4 Changes in the amount of Resex^ve bank credit outstanding and in related items during the week and the year ended February 26, 1936, were follows: Increase or decrease since Feb* 26 Feb. 19 Feb. 27 (In millions of dollars) Bills discounted 7 +1 -1 Bills bought 5 tJ. S* Govdrxsmmt securities 2,1*30 Industrial a&v&ac&p (not including 26 million commitments - February 26) 32 +13 Other Reserve bank credit 1 -31 +13 -30 +25 TOTAL RESERVE BAIHC CREDIT 2.^75 Monetary gold stock 10,163 +3 +1*639 Treasury and national bank currency 2,502 4-3 -ig +14 +333 Money in circulation 5,775 Member ban!; reserve balances 5>s39 +7 +1,251 Treasury cash and deposits with F R*banks 2,9^9 -30 -57 # Honmember deposits and other F,R« accounts 577 -5 +120 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 2S,1936;not earlier. B-SOla ASSETS AI'TD LIABILITIES OF THE T3ELVE FEDESAL RESERVE BAIKS 0013 IKED (In thousands of dollars) Feb. 26,1936 Feb. 19.1936 Feb 27,1935 t A S S E TS Gold certificates on hand and due from U. S. Treasury 7,670,230 7,670,230 55,,55^^33,,002255 Redemption fund - F. H. notes • . • • lk k02 15,367 15,799 f 3Ug 253 257,047 Total reserves 8 032fS91 2,027,575 5,815,871 f Redemption fund - F. R* bank notes • . — 250 Bills discounted: Secured by U S*Govf t obligations,direct # and/or fully guaranteed 4,099 3,780 3,H3 Other bills discounted • 2,8ft 2,807 3,351 Total bills discounted • • . . # 6,932 6,587 6,464 Bills bought in open market • . • • . M 73 M 73 5,505 Industrial advances • . • * . * • • . 31,773 31,g6g 19.163 U. S» Government securities: Bonds • 215,690 215,685 395,688 Treasury notes 1,622,5^ 1,622,5^ 1,511,198 Treasury bills • • 512.011 592,011 523>25 Total U.S. Government securities 2,430,2^5 2,430,240 2,430,311 Other securities . . . . . 181 181 Total bills and securities • • . 2,473,804 2,473,5^9 2,461,443 Due from foreign banks . • 649 64S 803 B. notes of other banks 17,693 18,552 18,529 Uncollected items • . . . • 547,021 559,987 ^77,7^7 Bank premises • • . . 47,213 1+7,799 49,436 All other assets . • 39,717 39,016 46,657 TOTAL ASSETS 11,159,5SS 11,167,126 8,870,736 L I A B I L I T I ES f. R. notes in actual circulation # # 3,677,076 3,664,670 3,138,751 F* R. bank note circulation - net • • 11,,332244 Deposits: Member bank - reserve account , • # . 5,838,70s 55,,883322,,OO44SS ^,587,9^9 U.S•Treasurer - General account # t # 433,11s 472,821 99,181 Foreign bank • • • • 52,7^7 51,865 14,355 Other deposits • • • . . 269,757 275,37s 196,746 Total deposits 6,59^,330 6,632,112 4,898,231 Deferred availability items * . , • • 546,4is 528,SS5 490,259 Capital paid in 130,70s 130,713 147,031 Surplus (Section 7) • • 145,501 145,501 144,893 Surplus (Section 13 b) . 26,419 26,419 12,830 # Reserve for contingencies • • • • •• 34,110 3^, Hi 30,824 All other liabilities 5,026 ^,715 6,593 TOTAL LIABILITIES 11.159.58S 11,167,126 8,870,736 Ratio of total reserves to deposit and F. R* note liabilities combined . • 7788..22$$ 7788..00^^ 7722..44$$ Contingent liability on bills purchased for foreign correspondents • * . . • —. — 357 Commitments to make industrial advances 25,866 26,893 13,963 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A1JD LIABILITIES OF THE FEDERAL RESERVE BAHKS OIT FEBHUABX 26, 1936 (In thousands of dollars) B-801b A S S E TS Total Boston llew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from u. s. Treasury 7,670,230 51^,786 3,468,688 369,652 502,486 230,101 182,388 l,323,4l4 195,635 158,555 193,330 134,382 396,813 Redemption fund - F. R. notes 14,402 2,797 1,524 767 646 5U9 2,506 459 681 4gl 726 587 2,679 Other cash 348,259 42,738 87,013 4i,380 30,033 16,821 13,755 45,592 18,681 9,434 21,300 5,673 15,839 Total reserves 8,032,891 560,321 3,557,225 411,799 533,165 21*7,471 198,649 1,369,465 214,997 168,470 215,356 140,642 415,331 Bills discounted: Secured by U.S.Govt. obligations, direct and/or fully guaranteed 4,099 108 2,371 580 38 50 107 100 53 15 & 625 Other bills discounted 2,833 33 2,217 76 32 15 12 4l 15 ~~~~6666 250 46 30 Total bills discounted 6,932 l4l 4,588 656 70 65 119 l4l 68 66 265 98 655 Bills bought in open market 4,673 349 1,739 472 44o 190 163 579 87 61 133 133 327 Industrial advances 31,773 2,914 7,657 6,540 1,608 4,123 879 2,074 ^73 1,501 1,132 1,733 1,139 U. S. Government securities: Bonds 215,690 14,427 55,252 l6.s4s 19,070 10,209 8,240 24,440 10,732 12,963 9»5i4 16,560 1177,,443355 Treasury notes 1,622,544 108,985 501,465 122,350 151,366 81,031 65,406 193,992 S5,oSo 47,758 74,049 52,069 138,387 Treasury bills 592,011 34,266 177,666 37,922 47,589 25,476 20,563 123,732 26,782 14,854 23,281 16,371 43,509 Total U.S. Govt, securities 2,430,245 1:5 7,678 734,383 177,120 218,025 116,716 94,209 342,164 123,200 75,575 106,844 85,000 : 1 99,331 .— Other securities 181 —- —— — —— — 181 — — Total bills and securities 2,473,go4 1:6 1,082 748,367 184,788 220,143 121,094 95,370 344,958 123,828 77,203 108,555 86,964 201,452 F D . u R e . n f o r t o e m s f o o f re o i t g h n e b r a b n a k n s k s 17,6 6 9 4 3 ^ 4 5 l p 4 5,1 2 1 5 3 7 71 6 9 3 1,37 6 7 0 98 2 0 8 2,1 2 2 ? 4 2,13 7 3 8 1,25 4 7 , 83 3 5 1,02 1 0 9 37 1 3 9 1,3 4 4 5 8 Uncollected items 547,021 60,542 129,352 43,375 53,827 43,838 18,954 76,643 26,317 14,520 30,539 23,936 25,178 Bank premises 47,813 3,113 10,823 4,875 6,526 2,919 2,284 4,826 2,%2 1,531 3r36o 1,524 3,580 All other assets 39,717 135 30,328 3,587 1,385 943 1,286 204 162 479 292 766 150 TOTAL ASSETS 11,159,588 '7 85,657 4,481,465 649,206 816,483 : 4 17,273 318,690 3- ,798,307 369,017 263,041 3;5 9,141 254,224 614 7,084 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AKD LIABILITIES OF THE FEDERAL RESERVE BAKKS ON FEBRUARY 26, 1936 (in thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phi la. CI eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.H.notes in actual circulation 3,677,076 330,S35 775,072 272,720 357,680 175,885 152,809 $52,032 160,361 109,215 139,^06 72,68s 278,293 Deposits: Member bank - reserve account 5,838,70s 355.175 2,S60,8l& 2SS.S1+1 355,256 17^,682 123,200 800,192 15^,251 122,239 173,109 127,553 299.366 U.S.Treasurer - General account 1*33,118 5,bl+0 369,756 1 11,170 3,72S 3,620 16,^2 2,503 4,397 3,3% 3,1+20 Foreign "bank 52,7^7 boil IS,279 5,oUs kssb 2,3SS 1,900 6,g7 J^i 1,57^ 1,57^ 3,7^5 Other deposits 269,757 6.20k 209,639 2,959 3,2^1 2,568 M 55 l&Z 87*+ 12,569 12,3^1 Total deposits 6.59^,330 371,036 3.^53,513 301,1+89 37^,661 183,366 133,575 825,529 171.795 130,^92 179,95^ 145,01+3 313,872 Deferred availability items 5^6,His 60,027 127,832 Hi,706 52,936 +3,^22 is,991 77,100 iH.^H 30,035 26,185 26,953 Capital paid in 130,70s 9.39S 5i,oiH 12,327 12,5+23 H.599 12,0^1 3.03H 3,927 3,793 10,151 Surplus (Section 7) 11+5,501 9.902 50,825 13,406 1^,371 5,ic6 5,616 21.350 3,1^9 3,613 3,7S3 9,61+5 Surplus (Section 13b) 26319 2,876 7.7W H,231 1,007 3,1+1+s 75k 1,391 1,003 1,1^2 1,256 1,021 Reserve for contingencies 3H.no 1,^13 S,Sl+9 3,000 3,lil I,261 2,50s 7,573 S92 1,^83 8^3 1,323 1,8^9 All other liabilities 51026 120 1,611 221 29H 106 123 1,1291 22*+ 211 221 lHg 200 TOTAL LIABILITIES 11,159,588 785,657 V4gi,4&5 61+9,206 8l6,Hg3 1+17,273 318,690 1,798,307 369*017 263,0^1 359,lHl 25l+,22i+ 61+7,081+ Ratio of total reserves to deposit and F.R.note liabilities ooinbined 78.2 79.S sH.o 71.7 72.8 6S.9 69.3 81.6 01.7 70.3 67.1+ 61+.6 69.6 Commitments to make industrial advances 25,866 3,391 9,723 323 1,667 2,290 396 106 3,008 106 775 587 l+,U9i+ MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days Si to 50 days 6 months Over 6 months Bills discounted 6,932 H.973 l,20l+ 5U1 121 88 5 Bills bought M 73 I,^52 2,00l+ 71I+ 503 Industrial advances 1,333 250 626 1,658 26,91+7 131,773 U.S.Government securities 2,1+30,21+5 39,295 1+3,850 170,017 •4 8,Sl6 318,835 1,809,432 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE HOTE STATEMENT Oil FEBHUAET 26, 1936 (In thousands of dollars) B-SOld Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to FJl.bank by F.R.agent 3,966,1*57 3^8,320 885,790 288,193 371,^57 1SH,600 173,297 888,087 167,29s 113,321 1^8,856 79,1&+ 318,07U Held by Federal Reserve bank 289,381 17,^85 110,718 15,^73 13,777 8,715 20,*K>S ; 36,055 6,9^7 k10S 9,1+50 6,^76 39,781 t in actual circulation 3,677,076 330,835 775,072 272,720 357,680 175,8S5 152,889 852,032 160,361 109,215 139,^6 72,688 278,293 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3.885,8^3 356,617 905,706 288,000 372,UHO 178,000 132,685 89^,000 1^,632 11^,000 1^0,000 79,500 280,263 Eligible paper 5,22*+ 115 3,113 62U 38 50 107 100 58 57 2^7 8~[ 628 U. S. Gov't securities 127,000 — — — — 8,000 1*2,000 — 2^,000 — 10,000 -- 1*3,000 Total collateral Mis,067 356,732 908,819 288,62U 372,M 186,050 17M92 S9M00 168,690 11^,057 150,2^7 79,587 323,891 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis