H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT JOE THE PRSSS Released for publication Board of Governors Friday morning, May S; of the Federal Reserve System not earlier,* May 7, 193&* CONDITION OF FEDERAL RESERVE BATIKS The daily average volume of Federal Reserve "bank credit outstanding during tile week ended May 6 as reported by the Federal Reserve banks was $2,^77,000 000 t f an increase of $^ 000 000 compared with/pwceding week and of $6*000,000 compared f f with the corresponding week in 1935* On May 6 total Reserve bank credit amounted to $2,^78,000,000, an increase of $6,000,000 for the week. This increase corresponds with increases of O53*000*000 in moaey in circulation and $26,000,000 in member bank reserve balances and a decrease of $4,000,000 in Treasury and national "bank currency, offset in part by an increase of $27,000,000 in monetary gold stock and decreases of $33,000,000 in Treasury cash and deposits with Federal Reserve banks and $17,000,000 in nonmorabcr deposits and other Federal Reserve accounts. Member ban: reserve balances on May 6 mqtq estimated to be approximately $2,700,000,000 in excess of legal recjuirements* Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $5,000,000 in holdings of United States Treasury bills was offset by a decrease of $5,000,000 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 May 5, 1936, were as follows: Increase or decrease since May 6 Anr. 29 May 8 jm (In millions of dollars) Bills discounted 5 Bills bought , 5 U* S. Government securities 2,1+30 Industrial advances (not including 26 million commitments - May 6) 30 Other Reserve bank credit s +6 +9 TOTAL RESERVE BilJK CR3DIT +S +12 Monetary gold stock 10,242 +27 +1,520 Treasury and national bank currency 2,407 -4 -39 Money in circulation 5,912 +53 + + 4 7 l 74 G Member bank reserve balances 5.532 +26 Treasury cash and deposits with F.R*bariks 3,175 -33 m llonmember deposits and other F.R.accounts b04 -17 +S5 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Bclcasod for publication Friday morning, llay G.1936; not earlier. 3-S01a ASSETS XBD LIABILITIES OP TE3 TTOLYE FEDERAL RESERVE 3AICS COM3 HIED (In thousands of dollars) Hay 6,1936 Apr. 29.1936 May S, 1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 7,703,337 7,703,233 55,,776655,,881199 Redemption fund - notes • . . . • 12,9U2 20,061 13,377 322,027 339,651 237,661 Total reserves S,038,SOI 8,056,1+26 6,023,5^1 Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 2,037 2,858 22,,663399 # Other bills discounted 2,^7 2,1+6-? 3,321 Total bills discounted 4,5s4 5,323 5,966 Bills bought in open marhet . . . . .. 4,676 H.6S1+ l+,698 Industrial advances ... . 30,170 30,319 26,^10 U. S. Government securities: Bonds . . 226655,,7700ss 265,723 322,337 Treasury notes 1,549,461 1.55MS9 1,5^3.136 Treasury bills 615,167 609,667 56^,772 Total U.S. Government securities 2,430,33s 2,1+30,279 2,1+30,2U5 # Other securities 1S1 181 Total bills and securities . . .. 2,469,947 2,1+70,726 2^67,313 Due from foreign basks 64o 631 699 13,313 19,661+ 17,11+7 Uncollected items . . 519,305 522,097 1+1+6,015 Bank premises ••• . . 4s,o4s 1+8,031 1+9,634 38,093 1+2,1+79 11,135,049 11,155,728 9,01+6,828 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,77S*SSO 3,7^1,690 3,160,066 Deposits: Member bank - reserve account . . .. 5,531,992 55,,550066,,331111++ 11++,,775577,,6600SS U.S•Treasurer - General account . . . 621,759 679,209 50,969 Foreign bank Sl,S5l 83,356 15,^70 Other deposits 263/437 278,11+7 261,866 Total deposits . 6,499,045 6,51+7,026 5,085,913 Deferred availability items . 511,66s 521,228 1+1+8,016 Capital paid in 1^0,652 130,657 11+6,669 Surplus (Section 7) 145,501 145,501 lUU,893 Surplus (Section 13 b) . . 26,513 26,513 19,939- Reserve for contingencies . • 34,110 3i+,ios 30,808 All other liabilities . S.oSO 9,005 10,52^ TOTAL LIABILITIES * 11,135,049 11,155,72s 9,01+6,828 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 77SS..22££ 78.3$ 73.0$ Contingent liability on bills purchased for foreign correspondents 1166 — Commitments to make industrial advances 25,81+2 25,576 18,01+0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A1ID LIABILITIES OF THE FEDERAL RESERVE BAMS OH MAY 6, I936 (in thousands of dollars) B~S01b A S S E TS Total Boston New York Phila. Cleve, Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from u. S. Treasury 7,703,337 501,695 3,060,886 397,211 547,959 264,641 204,376 1,425,741 221,444 158,192 223,122 i4i,175 496,295 Redemption fund - F. R. notes 13,377 2,429 1,607 282 644 S9I 2,070 376 1,04S 290 1,111 494 2,335 Other cash 322,087 3l,2l6 95,617 ^1,184 30,069 IS,722 9,812 42,154 13,253 5,518 17,332 M l5 11,535 Total reserves 8,038,801 535,3^ 3,158,110 439,277 578,572 284,054 2lS,25S 1,528,271 235,7^5 lS5,000 241,565 146,284 510,225 Bills discounted: Secured by-U.S.Govt, obligations, direct and/or fully guaranteed 2,097 293 1,176 3^3 20 21 — -— 2 QJ ^7 135 Other "bills discounted 2,487 51 1,702 — — — — 50 10 54 132 308 ISO Total bills discounted 4,584 344 2,87s 349 20 21 — 50 12 95 l4l 355 315 Bills bought in open market M 76 350 1,73^ 473 44l 191 154 581 S7 61 133 133 328 Industrial advances 30,170 2,853 7,682 5,245 1,810 3,832 824 2,133 520 1,^9 943 1,728 i,i4i U. S. Government securities: Bonds 265,708 17,956 58,473 20,755 23,973 12,834 11,019 28,415 13,^92 14,513 13,013 19,3^7 21,91s Treasury notes 1,549,461 103,505 481,258 115,284 143,754 76,95s 65,072 170,390 81,401 45,454 76,917 56,043 131,^27 Treasury bills 615,167 35,216 179,552 40,081 50,298 25,926 23,118 122,359 28,307 15,700 25,914 19,610 45,986 Total U t S.Govt. securities 2,^30,336 157»$77 729,3S3 177,120 218,025 116,716 100,209 321,164 123,200 75,567 Il5,s44 35,000 133,331 Other securities 181 — — —— — — — 181 — — Total bills and securities 2,469,947 151,224 741,677 183,187 220,296 120,760 101,197 323,92s 123,819 77,226 118,242 97,216 201,115 Due from foreign banks 64o 49 259 61 58 28 22 76 4 3 12 12 44 F.R.notes of other banks 19,813 379 ^,352 790 1,289 1,765 1,355 3,037 2,246 543 1,204 46o 2,333 Uncollected items 519,305 55,^60 127,454 39,270 ^9,39>+ 43,866 19,846 74,265 22,476 1^,330 29,770 20,012 23,162 Bank premises 48,048 3,H3 10,849 5,080 6,525 2,919 2,284 4,330 2,452 1,531 3,360 1,525 3,580 All other assets 38,435 256 28,166 3,604 1,559 1,025 1,369 444 241 422 308 788 TOTAL ASSETS 11,135,04s 755,821 4,070,867 671,269 857,793 454,417 342,331 3. ,93M5i 386,983 259,121 :3 9M67 266,303 740,826 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OIT MAY 6, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston ifew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,778,880 3U3,kOJ jS6980 279,l6l 369,l4s 171,421 162,009 873,322 162,253 115,303 l46,36l 76,333 293,182 t Deposits: Member bank - reserve account 5,531,952 288,944 2,524,216 280,685 363,616 190,205 110,460 902,254 144,937 82,550 173,505 119,678 350,9^48 U.S.Treasurer - General account 621,759 33,229 263,1^5 30,715 34,873 29,79^ 32,854 32,92^ 36,283 32,238 32,022 33,2l4 30,467 Foreign "bank SI,851 5,967 30,649 7,493 7,^19 3,5^ 2,822 9,354 2,419 1,935 2,337 2,338 5,564 Other deposits 263/437 5,279 217,936 2,o44 1,843 2,035 1,950 3,^22 7,445 4,638 519 2,026 13,900 Total deposits 6,499,045 333,^19 3,035,-'-6 320,943 ^-07,751 225,582 l4s,os6 947,955 191,084 121,361 208,783 157,256 400,879 Deferred availability items 511,668 55,151 125,641 37,757 49,33*+ 42,77^ 18,'j45 69,910 23,410 13,629 29,59S 21,802 23,717 Capital paid in 130,652 9,397 50,903 12,322 12,5^ 4,580 4,229 12,022 3,763 2,989 3,951 3,796 10,152 Surplus (Section 7) 145,501 9,902 50,325 13,406 14,371 5,186 5,616 21,350 4,655 3,1^9 3,613 3,783 9,645 Surplus (Section 13 b) 26,513 2,874 7,744 4,231 1,007 3,448 754 1,391 546 1,003 1,142 1,252 1,121 Heserve for contingencies 34,110 iM3 8,849 3,0 4 0 4 0 9 3,111 1,268 2,512 7,573 893 1,470 844 1,328 1,849 All other liabilities 8,680 25s 3,979 523 158 180 1,328 379 217 175 753 281 TOTAL LIABILITIES 11,135,049 755,S21 4,070,867 671,269 857,793 ^5^17 3^2,331 i,93M5l 386,983 259,121 39^,^67 266,303 7^,826 Ratio of total reserves to deposit and F.R.note liabilities combined 78.2 79.1 82.6 73.2 74.5 71.5 69.7 83.9 66.7 69.7 68.0 62.6 73.5 Commitments to make industrial advances 25,842 2,91s 10,333 328 1,516 2,403 37^ 79 1,932 102 590 582 4,685 MATURITY DISTRIBUTION OF BILLS A1TD 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 4,584 2,877 709 740 220 6 Bills bought 4,676 556 4 2 ^ 3 5 2 4oi 3,27^ Industrial advances 30,170 1,669 557 767 1,899 25,046 U. S. Government securities 2,430,336 27,106 20,400 103,586 144,744 313,975 1,820,525 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL HESEH7E 110TE STATEMENT 01T MAY 6, 1936 (in thousands of dollars) B-301d Total Boston Kerc York Phila Cleve, Rich, Atlanta Chicago St.Louis Minn. Ilans.Cy. Dallas San F «.n # r Federal Reserve notes 11,037,156 360,979 379,962 293,081 381,133 ISO 382 122,390 907,297 169,^20 118,506 155,232 22,810 325,303 Issued to F.K."bank by F.R.agent f Held by Federal Reserve ban!-: 253,276 17,572 92,982 13,920 11,935 3,961 20,321 3^,575 7,167 3,203 2,927 6,^77 32,126 In actual circulation 3,773,380 3^3,^07 786,930 279,161 369,1^8 171,^21 162,009 873,322 162,253 H5,303 1^6,361 76,333 293,182 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury H,0^2,903 376,617 390,706 295,000 333,000 139,000 151,635 915,000 159,632 119,000 151,000 £3,000 329,263 Eligible paper 3,272 3^ 1,635 3^9 20 21 — — 12 93 130 353 315 U. S. Gov't securities HS,000 — — -- — -- 32,000 — 11,000 — 5,000 — — Total collateral M9M75 376,961 892,3^1 295,3^9 333,020 139,021 123,635 915,000 170,6UU 119,093 156,130 83,353 329,573 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis