H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, May 29; of the Federal Reserve System not earlier* May 28', 1936 CONDITION OF FEDERAL RESERVE BAHKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended May 27, as reported by the Federal Reserve "banks, was $2,^,000,000, a decrease of compared with the preceding week and of $1,000,000 compared with the corresponding week in 1935* On May 27 total Reserve bank credit amounted to $2,H66,000,000, a decrease of $4,000,000 for the week, This decrease corresponds with decreases of $29*000,000 in nonmember deposits and other Federal Reserve accounts and $22,000,000 in Treasury cash and deposits with Federal Reserve banks, and an increase of $13,000,000 in monetary gold stock, offset in part by increases of $53,000,000 in member bank reserve balances and $6,000,000 in monoy in circulation Member bank reserve balances on May 27 were estimated to be approximately $2 $00,.000,000 in t excess of legal requirements® Relatively small changes were reported in holdings of discounted and purchased bills and industrial advances. An increase of $2,000,000 in holdings of United States Treasury bills v/&s offset-by a decrease of $2,000,000 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 27, 193^, were as follows: Increase or decrease since May 27 May 20 May 29 1936 (in millions of dollars) Bills discounted 1 -3 Bills bo-ught -1 -l U S. Government securities 2,^30 # Industrial advances (330% including 25 million commitments - May 2j) 30 +3 Other Reserve bank credit -1+ -1 TOTAL R3SZR7E BAM CREDIT -1 Monetary gold stock 10,3SG +13 +1,553 Treasury and national bank currency +1 -32 Money in circulation 5.902 + + 5 6 3 +391 Member bank reserve balances 5,7^7 +920 Treasury cash and deposits with F»R*banks 3,116 -22 +1U6 Nonmernber deposits and other F # R*accounts 5C2 -29 +62 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 29,1936; not earlier. B-801a ASSETS AED LIABILITIES 01 THE T1ELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Hay 27,1936 May 20,1936 May 29,1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 7,824,035 7,759.336 5,868,300 Redemption fund - F. R. notes 13,052 12,532 22,2*+9 Other cash 310,>51 316,329 219,947 Total reserves 8,1^7,5^+8 8,088,197 6,110,1+96 Bills discounted: Secured by U.S.Gov't obligations,direct and/or fully guaranteed 2,61+6 2,1+36 l+,9ll+ Other bills discounted 2,182 2,313 3,372 Total bills discounted 4,828 4,749 8,286 Bills bought in open market 4,299 4,544 4,700 Industrial advances . . 30/462 30,487 26,977 U. S. Government securities: Bonds 265,699 265,691 314,512 Treasury notes 1,545,908 1,5^7,839 l,56l,4i£ Treasury bills 618,648 6l6.717 554,304 Total U S.Government securities . . 2,430,255 2,430,247 2,430,264 t Other securities 181_ 181^ — Total bills and securities 2,470,025 2,470,208 2,470,227 Due from foreign banks 237 2^0 J00 F. R. notes of other banks: 13,002 20,368 15,7^3 Uncollected items 518,009 574,289 455,926 Bank premises . 48,051 48,051 49,701 All other assets Hi,126 40,288 1+7,086 TOTAL ASSETS 11,2^3,933 11,21+1,64l 9,1^+9,879 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,758,973 3,760,729 3,171,650 Deposits: Member bank - reserve account 5,7^7,228 5,694,009 4,826,596 U.S.Treasurer - General account 51+4,183 513,104 74,472 Foreign bank "54,493 85,1+82 47,345 Other deposits 271.122 267,384 215.021 Total deposits 6,517,026 6,559,979 5.163,1*34 Deferred availability items 522,081 574,822 460,029 Capital paid in 1^0,795 130,7I+5 11+6,65!+ Surplus (Section 7) 145,501 l^.oOl 144,893 Surplus (Section 13b) 26,513 26,513 20,065 Reserve for contingencies 34,111 3^,109 30,782 All other liabilities 8.998 9,21+3 12.372 TOTAL LIABILITIES 11,243,938 ll,24l,64l 9,149,879 Ratio of total reserves to deposit and F. R. note liabilities combined . . . .. 78.5$ 78.1$ 73.3$ Commitments to make industrial advances . 25,095 25,297 19,1+25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A13D LIABILITIES OP THE IFEDERAL RESERVE BAIHS Oil MAY 27, 1936 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis le&e.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 7,824,035 4s4,550 3,#0,523 329,097 560,756 241,971 196,272 1,577,2?** a5,910 157,541 210,898 139,360 509,3S3 Redemption fund - P.H. notes 13,062 2,322 1,033 386 9^5 7S5 1,908 659 992 2&1 1,059 460 2,246 Other cash 310,451 29,159 87,958 39,939 28,009 19,699 10,081 39,095 #,051 8,107.17,055 5,608 11,650 Total reserves 3,147,548 516,031 3,229,514 429,422 589,710 262,455 208,261 1,617,028 230,963 165,915 229,042 #5,428 523,779 Bills discounted: direct and/or fully guaranteed 2,646 380 1,448 38I 55 26 25 2 S3 9 72 185 Other bills discounted 2,182 47 1,503 3 — — 10 109 119 386 — Total Mils discounted 4,828 427 2,951 381 63 26 25 12 172 128 458 185 Bills bought in open market 4,299 320 1,585 436 406 174 150 534 87 61 122 122 302 Industrial advances 30,462 2,942 7,396 5,215 1,878 3,772 798 2,130 565 i Mt 993 1,717 1,595 U. S. Government securities: Bonds 265,699 17,956 68,473 20,755 23,973 12,334 11,019 28,415 13,492 I4,5€k 13,013 19,347 21,918 Treasury notes 1,5^5,908 103,259 480,307 116,012 143,412 76,773 65,915 169,9s* SI,209 45,276 76,735 55,9io 131,115 Treasury bills 61s, 64s 36,462 180,603 40,353 50,640 27,109 23,275 122,728,499 15,806 27,096 19V743 46,298 Total U.S.Gov't securities 2,^30,255 157,677 729,383 177,120 213,025 116,716 100,209 321,164 123,200 75,5&& 116,344 95,000 199,331 Other securities ISl — — — — — — — — 131 — — Total bills and securities 2,1+70,025 161,366 741,315 183,152 220,372 120,683 101,182 323,S2S 123,864 77,280 IIS,268 97,297 201,413 Due from foreign banks 237 17 95 22 21 10 8 27 ^ X 7 7 16 E.R.notes of other banks 19,002 4oo 4,344 563 i,4oo 2,405 1,543 2,513 1,103 1,194 1,299 405 1,833 Uncollected items 518,009 54,4S4 125,200 41,280 52,690 43,720 16,203 72,$7S 23,172 14,639 27,865 19,505 26,575 Bank premises 43,051 3,H3 10,351 5,080 6,525 2,919 2,284 4,830 2,452 l,5}l 3,360 1,526 3,580 All other assets 41,126 282 30,514 3,669 1,543 1,062 1,389 530 254 44 . 2 i 327 301 303 TOTAL ASSETS 11,243,998 735,693 4,I4I,333 663,1S3 872,266 433,259 330,370 2,021,432 361,812 261,0C& 360,16s 264,969 757,504 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BANKS Oil MAY 27, 1936 (In thousands of dollars) B-SOlb L I A B I L I T I ES Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago Dallas San Fran. F.R.notes in actual circulation 3,753,973 341,204 776,519 232,243 371,474 170,026 159,725 874,411 75,223 291,2S6 Deposits: Member bank - reserve account 5,747,228 273,217 2,675,430 274,540 377,373 167,016 102,420 936,351 l44,4g4 29,275 166,£5S 121,937 365,222 U.S.Treasurer - General account 544,183 32,603 201,134 26,574 30,911 34,137 32,961 32,300 31.737 27,602 23,520 32,205 32,739 Foreign bank: 54,493 4,037 19,423 5.137 5,031 2,430 1,933 6,407 1,657 1,326 1,599 1,602 3,311 Other deposits 271,122 5,139 222,901 1,346 2,595 1,973 4,230 2,631 7,995 4,543 1.77& 1,570 13,775 Total deposits 6,617,026 315,096 3,ii3,9SS 303,097 4I6,465 205,606 1^1,59!+ 1,023,739 135,923 122,206 200,751 157,36U 415,597 Deferred availability items 522,031 55,516 123,97s 39,303 52,621 1+2,307 16,243 74,629 25,190 27,67^ 21,630 27,532 Capital paid in 130,795 9,374 50,269 12,31^ 12,624 4,712 4,229 12,021 2,930 3,9J>2 3,302 10,151+ Surplus (Section 7) 145,501 9,902 50,325 13,406 1^,371 5,136 5,616 21,350 3,1*8 3,733 9,61+5 Surplus (Section 13 b) 26,513 2,374 7,7V* 4,231 1,007 3,448 754 1,391 5P 1,003 1,1^2 1,252 1,121 Reserve for contingencies 34,111 1,413 8,349 3,000 3,lil 1,272 2,516 7,573 S93 1,463 gl+U 1,323 1,31+9 All other liabilities 3,993 314 4,061 593 202 193 1,312 361 ,.. 537 320 TOTAL LIABILITIES 11,21+3,993 735,693 1+,11+1,S33 663,188 272,266 433,259 330,370 2,021,1+32 301,812 261,004 330,l6g 264,969 757,501+ Ratio of total reserves to deposit and F.R.note liabilities combined 73.5 73.6 S2.S 72.7 74.3 63.9 69.1 35.0 0 r 0 r . 7 69.9 66.3 62.5 74.1 Commitments to make industrial advances 25,095 2,312 10,342 326 1,515 2,33S 297 79 x,83l 9** ^7 547 4,397 MATURITY DISTRIBUTION OF BILLS Affl) SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 aonths Bills discounted 1+,82S 2,956 713 226 533 338 2 Bills bought 4,299 561 2,145 9S6 607 Industrial advances 30,462 1,526 224 629 675 2,( 25,353 U, S. Government securities 2,430,255 20,0S0 71,497 67,382 133,070 328,! 1,309,520 Other securities 131 131 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 27, 1936 (in thousands of dollars) B-SOlb Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn, Eahs.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,036,457 358,777 872,209 294,787 385,622 181,066 178,107 911,972 168,858 118,032 155.551 S3,203 328,273 Held by Federal Reserve bank 277,484 17,573 95,690 12,5^ l4,l48 ll,04o 18,382 37.5^1 8,386 3,604 13,5^9 7,980 36,987 In actual circulation 3,758,973 341,204 776,519 282 2U3 371,^74 170,026 159,725 874,411 160,472 114,428 141,962 75,223 291,286 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,038,523 376,000 890,706 296,000 387,500 185,000 147,685 915,000 154,632 120,000 149,000 s4,ooo 333,000 Eligible paper 3,488 U27 1,646 381 63 26 25 12 171 121 431 185 U. S. Gov't securities 55,000 32,000 15,000 — 8,000 Total collateral 4,097,011 376,427 892,352 296,381 327,563 185,026 179,710 915,000 169,61)4 120,171 157,121 84,431 333,125 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis