H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released.' for publication Board of Governors Friday morning, July 31; of the Federal Reserve System not earlier. July 30, 1936. C01TDITI0IT OF FEDERAL RESERVE 3MJKS The daily average volume of Federal Reserve bank credit outstanding during the week ended July 29> as reported by the Federal Reserve banks, was $2,U6o,000,000, a decrease of $10,000,000 compared with the preceding week and of $3*000,000 compared with the corresponding week in 1935* On July 29 total Reserve bank credit amounted to $2,1+60,000,000, a decrease of $6,000,000 for the week. This decrease corresponds with decreases of $30*000*000 in money in circulation, $'43,000,000 in Treasury cash and deposits with Federal Reserve banks and $3,000,000 in nonmember deposits and other Federal Reserve accounts, and an increase of $2*000,000 in monetary gold stock, offset in part by an increase of $81,000,000 in member bank reserve balances. Member bank reserve balances on July 29 were estimated to be approximately $3*050,000,000 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 July 29, 1936. wore as follows: Increase or decrease since July 29 July 22 July 31 1936 1936 1935 (In millions of dollars) Bills discounted +1 -3 Bills bought 3 - -2 U. S. Government securities 2,1+30 — •M Industrial advances (not including 2k million commitments - July 29) 29 +1 Other Reserve bank credit -6 -6 -1 TOTAL RESERVE BAM CREDIT 2,1+60 -6 -5 Monetary gold stock 10,6^2 +8 +l,i+9g Treasury and national bank currency 2,1+96 -1 -ii+ Money in circulation 6,123 -30 +605 Member bank reserve balances 6,016 +S1 +916 Treasury cash and deposits with F.R. banks 2,907 J+s *-gl+ Honmember deposits and other F.R. accounts 551 '-3 ‘+1+1 .(B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 31»193°; not earlier. B-SOla ASSETS ASD LIABILITIES OF THE TWELVE FEDERAL RESERVE BATES COMBINED (In thousands of dollars) July 29, 1936 July 22.1936 July 31,1935. A S S E T S G-old certificates on hand and due from U. S. Treasury........... . s,125,529 8,185,322 6,224,116 Redemption fund - F. R. notes....... 11,663 12,185 21,829 0 tner cash . . . . . . . . . . . . . . 303,081+ _..22LMo 269,230 Total reserves ..... ....... 8,500,276 8,1+90,947 6,515,175 Bills discounted: Secured by U.S.Gov't obligations,direct or fully guaranteed ... ...... 1,676 1,528 3,432 Other bills discounted .......... _ 1x222 ___ 1*261 Total bills discounted . . . . . . 3,66s 3,391 6,570 Bills bought in open market . . . . . . 3,092 3,088 4,687 Industrial advances . . . . . . . . . . 29,1+48 29,573 28,354 U, S. Government securities: Bonds ............ ............ 32i+,72l 324,721 292,212 Treasury notes ....... . ....... 1,1+96,719 1,496,719 1,569,963 Treasury bills . . . . . . . . . . . 608,787 608,787 ...562.034 Total U.S. Government securities . 2,1+30,227 2,430,227 2,430,209 Other securities ............... . 181 181 Total bills and securities .... 2,l+66,6l6 2,466,460 2,469,820 Due from foreign banks ............ 221 225 635 F. R. notes of other banks ........ 24,185 28,26s 17,127 Uncollected items . . . . . . . . . . . 553,019 591,122 455,435 Bank premises . . . . . . .......... 1+8,055 48,055 49,904 All other assets ................. 1+5,1+18 _ 47,516 TOTAL ASSETS ................. 11,637,790 11,669,412 9,555,612 L I A B I L I T I E S F. R. notes in actual circulation ... 3,951,101 3,976,263 3,261,622 Deposits: Member bank - reserve account .... 6,016,170 5,935,131 5,099,616 U.S.Treasurer - General account ... '4 66,210 519,317 125,921 Foreign bank ................ 57,15S 61,415 23,288 Other deposits ............... . 240.. 67 6 238,445. ... 2£3*552. Total deposits............. . 6,780,211+ 6,754,308 5,472,438 Deferred availability items .... . . 559,363 591,241 460,873 Capital paid in .................. 130,170 129,790 146,647 Surplus (Section 7) .......... 11+5,501 145,501 144,893 Surplus (Section 13 b) ............ 26,513 26,513 21,572 Reserve for contingencies . . . . . . . 34,104 34,105 30,721 All other liabilities ............. 10,821+ 10*421 ...lO JIi TOTAL LIABILITIES............. 11,637,790 11,669,412 9,555,612 Ratio of total reserves to deposit and F, R. note liabilities combined ... 79.2$ 79.1* 74.5* Commitments to make industrial advances 23,711 23,771 23,022 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE BANKS Oil JULY 29, 1936 (in thousands of dollars) B-201b A S S E T S Total Boston Uew York Phila. Cleve. Rich. Atlanta Chicago St.Louisi Minn. ICans.Cy. Dallas San Fran Sold certificates on hand and due from IT. S. Treasury 2,125,529 501,U06 3,219,^52 ^01,139 520,171 260,761 207,351 1,660,427 225,210 179,762 238,512 150,582 560,084 Redemption fund - F. R. notes 11,663 2,034 23£ 94S 5li 367 2,012 603 859 206 937 380 1,962 Other cash 303,02U 32,603 77,296 32,1+07 22,365 16,255 11,61+7 j 39,822 13,925 8,2ll+ 13,296 6,973 15,021 Total reserves 2,500,276 536,0^3 3,297,592 1+1+0,1+9!+ 609,01+7 277,923 221,016 1,700,912 21+0,591+ 182,722 252,7^5 157,935 577,127 Bills discounted: Secured by TJ.S.G-ovH obligations direct or fully guaranteed 1,676 16 1,213 191 35 12 — — 60 - — 79 70 Other bills discounted 1,992 — 1,521 — — 1+1+ 21 —- 12 •- 81 307 — . Total bills discounted 3,662 16 2,73^ 191 35 56 21 — 72 - 81 32 6 70 Bills bought in open market 3,092 22*+ 1,110 316 293 120 102 32l+ 87 61 86 86 217 Industrial advances 29,1+1+2 3,101+ 7,27S 5,11+0 1,571 3,635 723 2,052 1+01 1,239 973 1,600 1,732 U. S. Government securities: Bonds 32l+,721 21,607 22,263 22,217 31,507 17,105 13,1^2 32,630 17,360 11,571 16,1+25 12,502 22,392 Treasury notes 1,1+96,719 99,596 1+06,223 130,061 ll+5,?20 72,832 60,575 172,O5U 80,019 53,33^ 75,708 57,622 130,263 Treasury bills 602,727 1+0,510 165,1+75 52,902 59,068 32,067 2l+, 639 72,1+23 32,5^8 21,693 30,79^ 23,^0 53,222 Total U.S•GrOv, t securities 2,1+30,227161,713 660,561 211,120 235,795 122,010 92,356 229,107 129,927 26,592 122,927 93,570 212,1+23 Other securities 121 — — — — — — — — 121 — — Total bills and securities 2,1+66,616 165,057 671,623 216,227 237,691+ 131,821 99,202 291,5^3 130,1+93 27,898 12U, 2I+S 95,61+2 21I+,502 Due from foreign banks 221 12 75 23 22 10 8 28 1+ 3 7 7 l6 F. R. notes of other banks 2l+, 125 1+03 8,261+ 713 1,^72 1,550 1,1+66 2,3^9 1,1+17 1,331 1,61+2 2,299 , 6j? Uncollected items 553,019 57,133 132,^69 1+1,182 5^,397 1+5,057 17,257 77,702 21,937 18,961 35,035 26,101+ 25,779 Bank premises 1+2,055 3,113 10,251+ 5,020 6,525 2,919 2,22l+ l+,230 2,1+53 1,531 3,360 1,526 3,520 All other assets 1+5,1+12 275 31+, 1+1+0 3,772 1,672 1,11+5 1,1+16 71+5 382 359 1+70 266 1+76 TOTAL ASSETS 11,637,790 j 62,Ok2 ^,155.377 70S,097 910,S29 1+60,425 3^2,655 2,072,109 397,220 292,271 1+17,513 222,153 82^,379 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL BESEEVE BAMS Oil JULY 29, 1936 (in thousands of dollars) B-SOlc L I A B I L h i e s Total Boston Hew York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actua,l circulation 3,951,101 356,695 208,322 295,125 386,581 184,467 171,855 909.519 169,89s 121,247 151,450 83,383 312,499 Deposits: Member bank — reserve account 6,016,170 293,865 2,721,021+312,750 Uol+,769 187,383 112,7^1 965,890 160,21s 121,568 196,931+ 132,635 1+01,31+3 U.S.Treasurer - General account 466,210 18,91+3 169,397 18,765 22,708 23,979 23,75^ 70,993 23,286 22,513 20,061 23,208 28,098 Foreign bank 57,15s l+,225 20,905 5,310 5,253 2,512 1,99s 6,623 1,713 1,370 1,653 1,656 3,940 Other deposits 21+0,676 2,637 181,993 1,855 5,002 3,163 2,303 1,770 8,180 1+, 287 291 1,31+1+ 27,3^6 Total deposits 6,780,211+ 32U,670 3,093,321+ 333,680 1+37,732 217,037 11+0,796 1,01+5,281 193,397 149,733 218,989 159,3^3 460,727 Deferred availability items 559,363 57,017 129,681+ 1+0,236 55,206 1+4,163 16,715 79,513 23,870 18,603 37,251 28,354 28,151 Capital paid in 130,170 9,1+01 50,221 12,231 12,561+ 4,717 4,250 12,109 3,756 2,973 3,937 3,816 10,195 Surplus (Section 7) ll+5,501 9,902 50,825 13,1+06 1^,371 5,136 5,6l6 21,350 i+,655 3,149 3,613 3,733 9,645 Surplus (Section 13 b) 26,513 2,871+ 7,744 4,231 1,007 3,1+1+8 754 1,391 51+6 1,003 1,142 1,252 1,121 Reserve for contingencies 3l+,l04 1,^13 8,81+9 3,000 3,111 1,280 2,518 7,573 S9U 1,449 840 1,328 1,349 All other liabilities 10,821+ 7. 0 5, _ 8 _ 1 _ + __ 8 ________ 5 __ 8 __ 8 _________2_ 57 187 151 1,373 261 + 709 291 S94 ,192 TOTAL LIABILITIES 11,637,790 762,01+2 1+, 155,377 708,097 910,829 1+60,1+85 3^2,655 2,078,109 397,280 298,871 1+17,513 282,153 324,379 Commitments to make industrial advances 23,711 2,71+9 9,151 326 1,526 2,328 286 77 l,S0l+ 91 397 536 4,44o MATURITY DISTRIBUTION OF BILLS AND SECURITIES 91 days to Jotal Within 15 days l6 to 30 days 31 to 60 days 6l to 30 days Over 6 months 6 months Bills discounted 3,66; > 0 2,028 31 673 278 658 Bills bought 3,092 352 769 2I+1+ 1,727 Industrial advances 29,1+1+8 1,550 179 575 930 l,92l+ 2l+, 290 U. S. Government securities 2,1+30,227 28,1+59 31,956 123,716 79,232 319,096 1,81+7,713 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3TEDE3AL RESERVE 1T0TE STATE!,32TT Oil JULY 29, 1936 (In thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. "ahs.Cy. Dallas San Fran, federal Reserve notes: Issued to F.R.bank by E.R.agent **,291,673 380,162 921,335 31^,011 ^02,727 196,9^1 19^,832 956,921 179,008 127,708 i6H,6n 9^.390 358,967 Held by Federal Reserve bank: 3^0,572 23,^67 112,953 18,886 16,206 12,^ 22,977 U7,U02 3,110 S,kSi 13,161 11,007 46,468 In actual circulation 3,951,101 356,695 808,382 295,125 386,531 184,4-67 171,855 909,519 169,89s 121,24-7 151,450 83,383 312,^99 Collateral held by agent as se­ curity for notes issued to bank: Gold certificates on hand and due from TJ. S. Treasury 4,313,023 396,000 945,706 315,000 407,000 197,000 i6U,685 966,000 164,632 130,000 163,000 95,000 369,000 Eligible paper 2,37s 16 1,4-99 191 35 56 21 — 78 — 76 336 70 U. S. QrOVtt securities 53,000 — _ — _ . 35,000 — 15,000 — 3,000 Total collateral 4,36s,4oi 396,016 9^7*205 315.191 ^ 7,035 197,056 199,706 966,000 179,710 130,000 166,076 95,336 369,070 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis