H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication Board of Governors Friday monning, July 17; of the Federal Reserve System not earlier. July l6, 1936. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve "bank credit outstanding during the week ended July 15, as reported by the Federal Reserve "banks, was $2,^78,000,000, an increase of 000,000 compared with the preceding week and the same amount as reported for the corresponding week in 1935- On July 15 total Reserve hank credit amounted to $2,^78,000,000, an increase of $6,000,000 for the week. This increase corresponds with increases of $58,000,000 in member bank reserve balances, $6,000,000 in Treasury cash and deposits with Federal Reserve banks and $2,000,000 in nonmember depositsand other F. R. accounts and a decrease of $2,000,000 in Treasury and national bank currency, offset in part by a decrease of $52,000,000 in money in circulation and an increase of $7,000,000 in monetary gold stock* Member bank reserve balances on July 15 were estimated to be approximately $2,920,000,000 in excess of legal requirements* Relatively small changes were reported in holdings of discount/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 July 15, 1936, were as follows: Increase or decrea.se since July 15 July 8 July 17 1936 , 1936 . 1935 (In millions of dollars) Bills discounted 3 Bills bought -2 U. S. Government securities 2,^30 — — Industrial advances (not including 2^ million commitments - July 15) 29 -1 +1 Other Rsaerve bark credit 13 +7 +11 TCIIAJj BKSWTft Br^K CREDIT 2,^78 +6 +6 Monetary gold t^ck 10,629 +7 +1,502 Treasury and national bank currency 2,^96 -2 -5 Money in circulation 6,190 -52 +660 Member bank reserve balances 5,S72 +5S +9US Treasury cash and deposits with F # R # banks 3,021 +6 '-65 KTonmember deposits and other F R accounts 521 +2 # # -39 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 17,193!?; not earlier. B-SOla ASSETS AED LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) July 15,1936 July 8,1936 July 17,1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,186,524- 8,106,569 6,226,200 Redemption fund - P. R. notes 12,54-2 12,54-2 21,5^6 Other cash 287,652 ,271,008 251,8^8 Total reserves 8,^86,718 8,^0,119 6,499,594- Bills discounted: Secured by U.S.Gov't obligations,direct or fully guaranteed 1,052 1,1+38 3,608 Other "bills discounted 1,84-7 1,858- 3,057 Total "bills discounted 2,899 3 . 296 6,665 Bills bought in open marlret 3,084- 3,085 4-, 679 Industrial advances 29,457 29,500 28,2o8 U. S. Government securities: Bonds 315.672 315,673 292,222 Treasury notes 1,494-, 218 1,4-94-, 218 1,5^-3,136 Treasury bills 620,337 620,337 594,889 Total U.S. Government securities . . . 2,430,227 2,430,228 2,4-30,2^7 Other securities 181 181 — Total bills and securities 2,465,848 2,^66,290 2,469,859 Due from foreign banks 229 229 64-3 P. R. notes of other banks 25,884 18,821 22,075 Uncollected items 681,238 598,237 5^3,628 Bank premises 48,055 48,054- 1+9,90^ All other assets 43,499 4-2.533 ^5,325 TOTAL ASSETS 11,751,^71 11,564-,283 9,631,028 L I A B I L I T I ES P. R. notes in actual circulation . . .. 4-,006,015 4,o4o,332 3,258,418 Deposits: Member bank - reserve account 5,871,746 5,81^,251 4,92^,402 U.S.Treasurer - General account . . . .. 592,501 506,644- 250,869 Foreign bank 60,100 60,321 24-,656 Other deposits 205,713 202,795 277,405 Total deposits 6,730,060 6,58^,011 5,4-77,332 Deferred availability items 669,018 593,077 54-2,264- Capital paid in . 129,822 130,988 14-6,608 Surplus (Section 7) 1^5,501 1^5,501 l44,893 Surplus (Section 13b) 26,513 26,513 21,288 Reserve for contingencies 34,111 34-, 117 30,780 All other liabilities 10,431 9,744 9,4-45 TOTAL LIABILITIES 11,751,471 11,564,283 9,631,028 Ratio of total reserves to deposit and P. R. note liabilities combined . . .. 79.0$ 79.0$ 74-.4$ Commitments to make industrial advances . 23,839 23,844 21,696 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AITD LIABILITIES OF THE FEDERAL RESEBVE BAUKS OB JULY 15, 1936 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phi la. Cleve. Eich. Atlanta Chicago St.L uis Minn. Kans. Cy. Dallas San Fran. 0 Gold certificates on hand and due from U. S. Treasury 8,186,524 512,636 3,085,698 4l5,l47 589,298 265,796 218,285 1,757,418 247,630 176,286 229,494 166,543 522,293 Redemption fund - P. E. notes 12,542 2,097 1,198 1,088 656 451 1,683 797 912 228 99^ ^13 2,025 Other cash 287,652 30,835 74,830 37,7^0 27,352 15.734 10,555 35,284 12,595 3,422 13,317 6,299 14,639 Total reserves 8,4s6,7i8 545,568 3,161,726 453,975 617,306 282,031 230,523 1,793,499 261,137 184,936 243,805 173,255 538,957 Bills discounted: Secured by U.S.Gov11 obligations 17 direct or fully guaranteed 1,052 5 71S 160 — , — 85 — 57 10 Other bills discounted 1,247 21 1,37S — 49 21 — — ~~~~ 5566 322 — Total bills discounted 2,899 26 2,096 160 —— 66 21 —— 85 — 56 379 10 Bills bought in open market 3,084 224 1,102 316 293 120 108 384 87 61 86 86 217 Industrial advances 29,457 2,858 7,327 5,149 1,599 3,556 723 2,097 554 1,303 984 1,622 1,685 U. S. Government securities: Bonds 315,672 21,006 85,802 27,431 30,629 16,627 12,776 37,553 16,876 11,249 15,968 12,155 27,600 Treasury notes 1,494,218 99,429 406,145 129,844 144,977 7S,707 60,474 177,757 79,886 53,244 75,530 57,530 130,645 Treasury bills 620,337 41,278 16s,6I4 53,905 60,189 32,676 25,106 73,797 33,165 22,105 31,375 23,885 54,238 Total U.S.Gov't securities 2,430,227 161,713 660,561 211,180 235,795 128,010 98,356 289,107 129,927 86,59s 122,927 93,570 212,483 Other securities 181 — — — • — — — — — 131 — — Total bills and securities 2,465,848 164,821 671,086 216,305 237,687 131,752 99,208 291,538 130,653 37,962 124,234 95,657 214,395 Due frosj foreign banks 229 18 83 23 22 10 8 28 4 3 7 7 16 F. R. notes of other banks 25,884 391 6,984 737 1,636 1,567 1,528 3,864 2,253 1,908 2,083 4l4 2,514 Uncollected items 681,23s 70,847 166,956 49,299 69,049 54,001 22,164 96,907 29,102 20,132 42,381 25,907 34,493 Bank premises 4c,055 3,113 10,354 5,080 6,525 2,919 2,284 4,830 2,453 1,531 3,360 1,526 3,530 All other assets 43,499 332 32,594 3,528 1.735 1,137 1,454 736 258 369 458 307 541 TOTAL ASSETS 11,751,471 785,090 4,050,233 729,447 934,010 473,417 357,169 £ 425,860 296,841 416,333 297,073 7'9 4,496 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 15, 1936 (in thousands of dollars) B-SOlc L I A B X L IT I E S Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation i+,006,015 360,1*06 819,651+ 300,161 388,1+61 188,577 176,915 920,327 173,o44 122,510 151,766 85,602 318,592 Deposits: Member bank: - reserve account 5,271.7^6 299.<&5 2,553,777 324, 77U 4l6,247 188,135 117,498 978,552 17^,765 115,676 187,321 138,662 377,29*+ U.S.Treasuer -"General account 592,501 24,1+95 212,030 17,621 19,520 23,994 22,464 143,059 26,257 24,910 23,607 29,546 24,998 Foreign "bank '60,100 4,1+79 21,671 5,629 5,56s 2,663 2,119 7,021 1,816 1,453 1,750 1,755 M76 Other deposits 205,713 2,877 160,957 i,sos 5,127 2,622 3,472 .. 1,899 8,277 4,572 273 2,2.^5 11,501+ Total deposits 6,730,060 330,896 2,948,435 349,832 1+1+6,522 217,1+1!+ 1^5,553 1,130,531 211,115 ll+6,611 212,951 172,228 1+17,972 Deferred availability items 669,018 70,114 159,352 1+6,381 67,708 52,737 21,1+22 96,1+50 31,626 18,509 1+1,787 27,92s 35,ooi+ Capital paid in 129,822 9,435 49,871+ 12,223 12,562 4,70* l+» 2I+3 12,077 3,75-7 2,975 3,963 3,815 10,190 Surplus (Section 7) 145,501 9,902 50,825 13,1+06 11+.371 5,186 5,616 21,350 4, 655 3,11+9 3,613 3,783 9,61+5 Surplus (Section 13 b) 26,513 2,871+ 7,7*+4 1+.231 1,007 3,1+1+8 75I+ 1,391 546 1,003 l, ll+2 1,252 1,121 Reserve for contingencies 34,111 1,1+13 8,8l+9 3,000 3,lll 1,279 2,519 7,573 891+ 1,1+56 8i+o 1,32s i,si+9 All other liabilities 10,431 50 5,550 213 268 68 1I+7 1,753 223 628 271 1,137 123 TOTAL LIABILITIES 11,751^71 785,090 i+,050,2S3 729,1+1+7 934,010 1+73,1+17 357,169 2,191,1+52 1+25,860 296,81*1 1+16,333 297,073 794,^96 Commitments to make industrial advances 23,839 2,762 9,1+2!+ 338 1,1+1+8 2,326 287 77 1,717 91 1+01+ 538 l+,l+27 MATURITY DISTRIBUTIOH OF BILLS AHD 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 discounted 2,899 1,959 17 61 725 137 Bills bo-ught 3,081+ 1,625 352 837 270 Industrial advances , 29,457 1,502 288 670 si+o i,9Si+ 24,173 U.S. Government securities .2,1+30-, 227 28,827 28,1+59 69,886 130,275 331,149 1,81+1,631 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JULY 15, 193b (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. bank "by F.R.agent 4,331,1773 S2.U3S 927,^71 315.662 406,854 200,645 198,269 958,565 182,960 129,084 165,925 96,290 367,014 Held by Federal Reserve banlc 325,162 22,032 107,817 15.5Q1 18,393 12,068 21,354 38,238 9,916 6,574 14,159 10,688 46,422 In actual circulation 4,006,015 360,406 819,654 300,161 388,461 188,577 176,915 920,327 173,044 .122,510 151,766 85,602 312,592 Collateral held by agent as security for notes issued to banlc: Gold certificates on hand and due from U. S. Treasury 4,348,023 396,000 945,706 318,000 4l0,000 202,000 172,685 966,000 179,632 130,000 l6l,000 98,000 369,000 Eligible paper 1,647 26 901 l60 — 66 21 — 85 — 49 329 10 U. S. Gov't securities 39.000 — — — — — 30,000 — 4,000 — 5,000 — Total collateral 4,388,670 396,026 946,607 318,160 4io,ooo 202,066 202,706 966,000 183,717 130,000 166,049 98,329 369,010 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis