H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication Board of Governors Friday morning, May 22; of the Federal Reserve System not ; earlier May 21, 1936 # C01IDITI0H OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve hank credit outstanding during the week ended May 20 as reported "by the Federal Reserve banks was $2,Ugl,000,000, an increase of $6,000,000 compared with the preceding week and of $5,000,000 compared with the corresponding week in 1935* On May 20 total Reserve bank credit amounted to $2,^70,000,000, an increase of $1,000,000 for the week. Increases of $83,000,000 in member bank reserve balances, $S,000,000 in money in circulation and $3,000,000 iu nonmember deposits and other Federal Reserve accounts and a decrease of $3*000,000 in Treasury and national bank currency were practically offset by an increase of $73»000*000 monetary gold stock and a decrease of $23*000,000 in Treasury cash and deposits with Federal Reserve banks* Member bank reserve balances on May 20 were estimated to be approximately $2,SbO,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 securities* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 20, 193^» were as follows: Increase or decrease since May 20 May 13 May 22 , 1936 J ^L 1935 (in Millions of dollars) Bills discounted 5 ~2 Bills boxight 5 U. S# Government securities 2,430 Industrial advances (not including 25 million commitments - May 20) 30 +3 * Other Reserve bank credit t9 TOTAL RESERVE BAUK CREDIT 2,^70 +1 +ii Monetary gold stock 10.375 +73 +1.613 Treasury and national barfs: currency1 2 ,% >3 -3s Jfeney in circulation 5,896 •&15 Member bank reserve balances 5.694 +S3 +€73 Treasury cash and deposits with F*H # banks 3.13S -23 +232 Nonmember deposits and other accounts 611 +3 +67 •Less than $500,000. (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 22, 1936;not earlier. B-S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANES COMBINED (In thousands of dollars) May 20,1936 May 13,1936 May 22.1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 7,759,336 7,729,83^ 5.820,782 Redemption fund - F. R. notes 12,532 12,451 21,064 Other cash 316,329 324,928 232.782 Total reserves 8,082,197 8,067,213 6,074,634 Bills discounted: Secured "by U.S.Gov't obligations,direct and/or fully guaranteed 2,436 2,292 3.388 Other bills discounted 2.313 2,489 3,370 Total "bills discounted 4,749 4,781 6,758 Bills bought in open market . 4,544 4,677 4,700 Industrial advances 30,487 29,963 26,895 U. S. Government securities: Bonds 265,691 265,693 335,621 Treasury notes 1,547,839 1,547,849 1,540,402 Treasury bills 6l6,717 6l6,717 554,^04 Total U^5.Government securities . 2,430,247 2,430,259 2,430,327 Other securities 181_ 181. — Total bills and securities . . .. 2,470,208 2,469,861 2,468,680 Due from . foreign banks 240 240 698 F. R. notes of other banks 20,36s 22,936 16,820 Uncollected items 574,289 595,188 478,931 Bank premises 48,051 48,050 49,701 All other assets 4o 28S 39,764 44.942 t TOTAL ASSETS ll,24l,64l 11,243,252 9,134,406 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,760,729 3,762,028 3,l48,543 Deposits* Member bank - reserve account 5,694,009 5,611,072 4,821,304 U.S.Treasurer - general account 513,104 577,985 37,317 Foreign,"bank 85,482 84,226 22,376 Other deposits 267.384 266.517 262.888 Total deposits . . 6,559,979 6,539,800 5,l43,S85 deferred availability items 574,822 595,878 488,889 Capital paid in 1 3 0 , 1 3 0 , 7 21 146,649 Surplus (Section 7) . .. 145,501 145,501 144,893 Surplus (Section 13b) 26,513 26,513 19,939 Reserve for contingencies 34,109 34,114 30,777 All other liabilities 9.243 "8.697 10,831 TOTAL LIABILITIES 11,241,0+1 11,243,252 9,134,4o6 TSatio of total reserves to deposit and F. R. note liabilities combined 78.4$ 78.3$ 73.3$ Contingent liability on bills purchased for foreign correspondents — — 2 Commitments to make industrial advances . 25,297 26,014 18,640 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAtJKS Oil MAX 20, 1936 (in thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Eafts.Cy. Dallas San Fran. Gold certificates on hand and due from u. S. Treasury 7,759,336 493,774 3,133,291 388,246 549,589 245,772 195,762 1,523,602 206,530 159,74s 212,502 142,534 505,936 Redemption fund - F. R. notes 12,532 2,356 1,191 1^3 405 646 1,942 JOB 1,003 2?2 1,067 468 2,257 nthfir cash ^16.^29 29.870 91.204 4l.126 29.0P2 13.977 9.336 40.0<S4 14.089 7.229 17.T7P R.&K 11. Total reserves 8,083,197 526,000 3,225,756 429,715 579,096 265,395 207,590 1,564,352 223,622 167,249 230,941 l4s,687 519,778 Bills discounted: Secured "by U.S.Govt, obligations, direct and/or fully guaranteed 2,436 11++6633 1,282 283 55 4466 75 2 6633 9 31 122 1,673 Other bills discounted 2,313 57 — — — — — 113 119 346 — Total bills discounted 4,749 520 2,960 288 55 46 75 2 176 128 377 122 Bills bought in open market 4,544 339 1,682 460 429 185 159 565 V 61 129 129 319 Industrial advances 30,487 2,850 7,492 5,247 1,878 3,778 799 2,114 565 1,459 996 1,720 1,589 U. S. Government securities: Bonds 265,691 17,956 6S,U73 20,755 23,973 12,834 11,019 28,415 13,^92 14,496 13,,013 19,347 21,913 Treasury notes 1,547,839 103,395 US0,S34 116,163 143,602 76,874 66,002 170,209 01,316 45,335 76,036 55,984 131,289 Treasury bills 616,717 36,326 130,076 4o,202 50,450 27,008 23,188 122,540 20,392 15,747 26,995 19,669 46,124 Total U.S.Govt, securities 2,1*30,2^7 157,677 729,383 177,120 218,025 116,716 100,209 321,164 123,200 95,000 199,331 75,570 116,844 .— Other securities 181 — — —— 181 — Total bills and securities 2/470,20s 161,336 7^1,517 183,115 220,387 120,725 101,242 323,843 123,854 77,274 110,278 97,226 201,361 Due from foreign banks 2l|0 IS 22 21 10 8 27 4 3 7 7 16 F.R.notes of other banks 20,36s 3S9 5,144 618 1,077 2,672 1,623 2,565 2,231 67s 1,442 37S 1,551 Uncollected items 574,289 60,26^ 144,432 43,764 56,489 49,437 20,433 79,655 24,072 15,094 30,015 20,686 29,93s Bank premises 48,051 3,113 10,851 5,080 6,525 2,919 2,284 4,830 2,452 1,531 3,360 1,526 3,520 All other assets 40,2SS 271 29,603 y - 7 7 O Cr o tr o * 1,597 1,044 1,^13 528 , 259 326 786 333 TOTAL ASSETS li,24i,64i 751,:44i 4, 157,410 666,002 865,192 442,202 334,593 1,975.826 376,494 262,259 384,369 269,296 756,557 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES Oil MAY 20, 1936 (in thousands of dollars) B-S01c L I A B I L I T I ES Total Boston Hfeeww YYoorrkk Phi la. Cleve. Rich. Atlanta Chicago St,Louis Minn, Steis.Cy, Dallas San Fran F.R.notes in actual circulation 3,760,729 340,735 773,393 280,666 370,485 171,001 161,372 873,24? 160,925 114,426 1^2,227 75,84s 290,904 Deposits: Member bank - reserve account 5,S9Moq 223,250 2,666622,,775538 2 2 7 7 ^ 4 , , 7 7 3 3 4 4 3 3 7 7 1 1 , , 7 7 3 3 4 4 1 1 7 7 5 5 , , 1 10 09 9 1 1 0 0 3 3 , ,9 99 9 2 2 9 9 3 3 5 5 , , 0 0 5 5 2 2 113344,,222200 8833,,448822 11^677,,33b633 112222,,777766 336688,,553399 U.S.Treasurer - G-eneral account 513,104 32,183 191,605 25,639 23,456 27,103 31,394 30,825 35,384 29,033 30,253 32,243 23,981 Foreign bank 85,482 6,239 31,944 7.841 7,757 3,710 2,951 9,780 2,529 2,024 2,444 2,445 5, SIS Other deposits 267, yft ^771 222,753 2,739 1,^9 2,176 2,891 7,349 4.407 JJ50. 1.566 13,524 Total de-posits 6,559,979 326,44s 3,115,065 310,11s 405,636 207,471 140,513 978,54s 179,482 123,946 201,810 159,030 4ll,s62 Deferred availability items 57M22 60,391 140,745 4I,7O4 57,35? 43,987 19,405 80,422 25.P899 15 ,064 23,559 30,719 Capital paid in J30t7^5 9,374 50,876 12,323 12,624 4,655 4,229 12,021 2,979 3.950 3,796 10,155 Surplus (Section 7) 1^5,501 9,902 50,825 13,4O6 14,371 5.186 5,616 21,350 3,149 3,613 3,783 9,645 Surplus (Section 13 ) 26,513 2,874 7,744 4,231 1,007 3,448 754 1,391 1,003 1,142 1,252 1,121 fieserve for contingencies 34,109 1,413 8,849 3,000 3,111 1,270 2,516 7,573 893 1,463 S44 1,328 1,849 All other liabilities 9,243 304 4,413 554 549 184 188 1,274- . 33L 229 215 700 302 TOTAL LIABILITIES ll,24l,64i 751,441 4,157,410 666,002 865,192 442,202 334,593 1,975,826 37^,494 262,259 3^.369 269,296 756,557 Ratio of total reserves to deposit and F.R.note liabilities combined 78.4 7 78 8 . . 8 8 82.8 72.7 74.6 70.1 68.8 84.5 65.7 70.2 ff.l 63.3 74.0 Commitments to make industrial advances 25,297 2,897 10,391 326 1,515 2,389 29s 79 1,835 94 4S0 531 4,412 MATURITY DISTRIBUTION OF BILLS MB SECURITIES 91 4ays to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over o months <£ feonths Bills discounted 2,910 612 221 703 301 Bills bought 432 275 315 3,022 Industrial advances 30,437 1,600 241 749 1,069 25,255 U. S, Government securities 2,430,247 20,400 67,263 63,439 138,728 31$,$-5 1,821,422 Other securities 131 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FED3RAL RESERVE BOTH STATEMENT ON MAY 20, 1 (In thousands of dollars) B-S01d Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.iouis Mixm* Gy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank "by agent ^,033,793 357,^26 277,291+ 2951281 325,502 181,051 179.189 905^78 118,0*5 23,056 327,981 Held by Federal Reserve bank 273,064 16,691 98,4oi lMl5 15>017 10,050 17,817 32,S31 3M3j 7,208 37,077 In actual circulation 3,760,729 3^0,735 778,893 280,666 370/485 171,001 161,372 £73.2*17 lSo,$a5 l l K^ 142,227 75,848 290,904 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,o4o,i4o 376,617 890,706 296,000 337,500 185,000 151,685 915*000 120,000 151,300 s4,ooo 333,000 Eligible paper 3,428 520 1,648 2G8 55 46 75 ~ 2 175 121 376 122 U. S. Gov't securities 57,000 —" —' — — -- 32,000 — 20,^00 5, #00 Total collateral 4,100,568 377,137 892,354 296,288 387,555 185,046 183,760 915,000 laoaf? 156*121 84,376 333,122 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis