H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning > March 6; of the Federal Reserve System not earlier. March 5, 1936 CONDITION 0? FEDERAL RESERVE BANKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended March U, as reported by the Federal Reserve banlis, was $2,^73,000,000, a decrease of $H,000,000 compared with the preceding weeh and an increase of $19000,000 compared with the corresponding week in 1935• f On March 1+ total Reserve bank credit amounted to $2,^75,000,000, unchanged from a week ago* Increases of $73,000,000 in money in circulation and $13,000,000 in nOBmember deposits and other Federal Reserve accounts were offset by increases of $4,000,000 in monetary gold stock and ,000^000 in Treasury and national bank currency and decreases of $26,000,000 in member bank reserve balances and $51,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on March k were estimated to be approximately $3,0^0,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discoiinted and purchased bills and industrial advances, An increase of $20,000,000 in holdings of United States Treasury bills was offset by a decrease of $20,000,000 in holdings of United States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended March H, 1936, were as follows: Increase or decrease since Mar. k Feb. 26 Mar. 6 -121L Iffi 1935 (In millions of dollars) Bills discounted £ Bills bemght «$ ^ S* mm&mmt mmxitilm +1 +1 (m% 26 wtiitm - k) 51 bissfc credit 3 42 41Z so«a msmm mm m 2M5 Monetary gald at&cfe 10l6? +l&Zl f f Treasury and mtornmx temjc mmww$r g^pl i>u Money t» titm Member baal: reserve buXmcm 5,313 %t 41.358 m Treasury cash and deposits with J%H.banks 2,898 iiOG Konmember. deposits and other I. H accounts 590 +13 4107 # (B-SQl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 6,1936; not earlier. B-SOla ASSETS Aim LIABILITIES OF THE TWELVE FEDERAL RESERVE BALKS COLIBIUED (in thousands of dollars) Mar. U 1936 Feb. 26,1936 Mar. 6, 1935 a A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . 7,669,322 7*670,230 5,556,087 Redemption fund - F. R. notes . . . . .. lU,902 lU/402 1R>950 Other cash 338,513 3^>259 2^7,266 Total reserves 2,022,7^3 8,032,891 5>S19,303 Redemption fund - F. R. bank notes • . • • — — 250 Bills discounted: Secured by U.S.Gov't, obligations,direct and/or fully guaranteed 2,996 ^,099 2,830 Other bills discounted £,7l6 2,833 3,278 Total bills disco-anted 5,712 6,932 6,10S Bills bought in open market U, 673 ,S73 5,£06 Industrial advances . . . .. 3 1 ,^ 31»773 19/470 U. S. Government securities: Bonds 216,069 215,690 39^3SS Treasury notes 1,602,759 1,622,5*44 1/492,673 Treasury bills 612,011 592,011 5^3,^25 Total U.S. Government securities • 2,^30,839 2,^30,2^5 2,430,^86 Other securities 181 181 — Total bills and securities . . .. 2,^72*859 2,^73,80^ 21+6l,570 l Due from foreign banks 6^9 0U9 802 F. R. notes of other banks IS,999 17»693 16,113 Uncollected items 523t5^7 5^7*021 ^57*509 Bank premises ^7,813 ^9,^53 All other assets ^1,076 39,717 U7,08S TOTAL ASSETS 11,127,736 11,159,538 8,852,088 L I A B I L I T I ES f. R. notes in actual circulation . . .. 3,735,066 3,677,076 3,159t9S9 F. R. bani; note circulation - net . .. . — — 1,227 Deposits: Member bank - reserve account 5,813,244 5.S33.70S 4,554,21$ U.S.Treasurer - General account 373,299 433,112 22,425 Foreign "bax^c 49,275 52,747 lS,323 Other deposits 272.189 269.757 220.599 Total deposits 6,514,007 6,594,330 4,220,023 Deferred availability items . . . . . .. 521,60O 546,416 467,797 Capital paid in . . 130,656 130,708 146,990 Surplus (Section 7) 145,501 144.S93 Surplus (Section 13 b) 26,51f 13,447 Reserve for contingencies 34,123 34,110 30»S22 All other liabilities 20.204 5.026 6.900 TOTAL LIABILITIES 11,127,736 11,159,522 2,252,022 Ratio of total reserves to deposit and P. R. note liabilities combined . . .. 7S.3$ 78.2$ 72. Contingent liability on bills jpurcnased for foreign correspondents — 2S6 Commitments to malce industrial advances . 25,537 25,S66 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL HSS1EVE BAMS Oil MBCH k 1936 9 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew lorlc Phila Cleve* Hich. Atlanta Chicago St.Louis llinn Kans*Cy, Dallas San Fran. # # Gold certificates on hand and due from u. S« Treasury 7,669,328 52^,955 3,3^2,892 3S5.651* 516,531 188,299 1,363,7S2 203^99 162,11+5 197,2^0 1^1,671 39S,^06 Hedenption fund - F. H. notes ,lM02 2,797 1,52^ 767 l.lW 5% 2,506 ^9 6S1 kSl 726 587 2,679 Other cash 338,513 *n»gl5 85,561 ^1,338 31,030 15,992 12,869 ^076 17,055 8,^7 20,1^ 5,229 iM97 Total reserves 8,022,7^3 569,567 3,^29,977 ^27,759 5^8,707 260,795 203,67^ 1,^+08,317 221,235 171,123 218,120 ibjMl ^15,982 Bills discounted: Secured by tJ.S«Ck>vt obligations, # direct and/or fully guaranteed 2,996 13s 1,875 489 27 35 62 13 45 2 310 Other "bills discounted 2,716 33 2,114 72 32 15 12 "4l 5 fe 217 85 28 Total bills discounted 5,712 171 3.989 561 59 50 74 4i 18 62 262 87 338 Bills bought in open market 4,673 349 1,738 472 440 190 163 580 87 61 133 133 327 Industrial advances 31.454 2,773 7,623 6,486 1,598 4,044 876 2,052 513 1.496 1,132 1,731 1,130 U S Government securities* Bonds ' 216,069 14,427 55.252 16,848 19,070 10,209 8,240 24,440 10,732 13,342 9,514 16,560 17,435 Treasury notes 1,602,759 107,573 495,957 120,787 l49,4o4 79,981 6^,558 131 Ms 84,582 47,-561 73,OS9 51,395 136,594 Treasury bills 612,011 35.678 183,174 39M5 ^9,551 26,526 21,411 126,246 27,886 15,466 24,24l 17,045 45,302 Total U,S« Govt, securities 2,430,839 157.678 734,383 177.120 218,025 Il6,7l6 94,209 342,164 123,200 76,169 106>844 85,000 199,331 Other securities 181 -- -- -- 181 — Total bills and securities 2,472,859 160,971 7^7,733 184,639 220,122 121,000 95.322 344,837 123,818 77,788 108,552 86,951 201,126 Due from foreign "banks 649 50 257 63 60 28 23 78 1+ 3 19 19 U5 F.E. notes of other banks 18,999 419 6,074 64l 1,250 772 1,694 2,326 2,091 394 1,394 447 1,497 Uncollected items 523,547 51.323 122,176 38,067 ^7.557 55,623 18,067 68,246 24,290 13,853 31,358 26,679 26,308 Bank premises 47,863 3,113 10,823 4,925 6,525 2,919 2,284 4,828 2,451 1,£51 3,360 1,524 3,580 All other assets 41,076 186 31,231 3,580 1,471 1,030 1,325 284 178 478 281 795 237 TOTAL ASSETS 11,127,736 785,629 4,348,271 659,674 825,692 442,167 322,389 1,828,916 374,067 265,170 363,084 263,902 648,775 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OP THE FEDERAL BESEHVE BAMS ON MARCH 1936 (I11 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 3,735,066 337,305 787,9^3 275,310 358.22S 177,902 l6o,S29 860,590 l62*&l 111,51+0 1^3,052 7 5 ,^ 2Sl4392 f t Deposits: Member bank - reserve account 5,813,244 358,446 2,746,834 304,752 3700, 364 127,773 121,953 832,484 164,712 122,892 175,io4 135,170 292,760 U^S.Treasurer - General account 379,299 2,563 333,284 2,099 ,545 2,264 2,520 12,753 1,836 2,352 1,726 1,069 7,280 Foreign bank 49,275 3,^25 18,166 4,556 2 ,507 2,155 1,715 5 >683 1,470 1,176 3,380 Other deposits 272,129 6,922 211,171 3,001 2,3*6 ^,754 2.587 8,239 1,01s 12,711 12,089 Total deposits 6,514,007 371,556 3,309,455 314,408 386,761 194,795 130,942 853,507 176,257 131,169 179,269 150,371 315,517 Deferred availability items 5a,660 51,123 119,086 36,702 48,135 54,789 17,383 71,195 25,276 13,617 30,717 27,789 25,798 Capital paid in 130,656 9,399 50,9^4 12,327 12,441 4,600 4,234 12,038 I1,7:67 3,034 3,92s 3,793 1100,,115511 Surplus (Section 7) 145,501 9,902 50,825 13,4o6 14,371 5,186 5,6l6 21,350 ^,655 3,149 3,613 3,783 99,,664455 Surplus (Section 13b) 26,519 2,876 7,744 4,231 1,007 3,448 754 1,391 546 1,003 1,142 1,256 11,,112211 Reserve for contingencies 34,123 l,4l3 8,849 3,000 3,111 1,273 2,508 7,573 S92 1,483 843 1,329 11,,884499 All other liabilities 20,204 2,055 1?I?S5 290 1,588 174 123 l,27g 233 175 •520 S7 302 TOTAL LIABILITIES 11,127,736 785,629 4,348,271 659,674 825,692 442,167 322,339 1,328,916 374,067 265,170 363,084 263,902 648,775 Ratio of total reserves to deposit and F.R.note liabilities combined 78.3 80,3 83.7 72.5 73.7 70.0 69.8 82.2 65.3 7O.5 67.7 65.3 69.3 Commitments to make industrial advances 25,537 3,285 9,682 325 1,634 2,326 387 106 1,940 106 731 587 4,428 MTURITY DISTRIBUTION OP BILLS MD SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discoimted 5,712 4,225 761 113 92 9 Bills "bought 4,673 706 1,760 635 1,572 • Industrial advances 31,454 1,537 609 407 1,692 26,869 U.S.Government securities 2,430,839 45,730 22,674 128,062 49,806 345,935 1,338,632 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT OH MARCH 4, 1936 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Dy. Dallas San Fran. Federal Reserve notes: Issued to F.R.barik by F.R.agent 3,997,381 355.2^ 886,746 290,353 370,268 186,102 180,046 892,312 169,026 114,711 152,073 80,887 319.612 Held by Federal Reserve bank 262,315 17.940 98,763 15,043 12,040 8,200 19.217 31,722 6,585 3,171 9,021 5.393 35.220 In actual circulation 3,735.065 337,, 305 787,983 275,310 352,228 177,902 160,829 860,590 162,441 111,540 143,052 75,494 284,392 Collateral held by agent as se~ curity for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,915,343 365,, 117 905,706 290,000 372,440 180,000 138,685 900,000 144,632 116,000 140,000 81,500 280,263 Eligible paper 3,999 145 2,515 529 27 35 62 8 53 244 70 311 U. S. Gov't securities 131,000 — — 7,000 42,000 — 25,000 14,000 43,000 Total collateral 4,050,31+2 366,262 908,221 290,529 372,467 187,035 180,747 900,000 169,640 116,053 154,244 81,570 323.57^ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis