H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Aug. lU; of the Federal Reserve System not earlier. August 13» 1936 CONDITION OF FEDERAL RESERVE BULKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 12$ as reported "by the Federal Reserve banks, was $2,^76,000,000, an increase of $6,000,000 compared with the preceding weel? and the same amount as reported for the corresponding week in 1935* On August 12 total Reserve bank credit amotuited to $2,^77*000,000, an increase of $1^,000,000 for the week. This increase corresponds with increases of $111,000,000 in member bank reserve balances, $7,000,000 in money in circulation, and $17,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $11,000,000 in monetary gold stock and $2,000,000 in Treasury currency, and a decrease of $107,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on August 12 were estimated at approximately $3,170,000,000 in excess of legal requirements. Owing to considerable repayments to the Treasury by the Reconstruction Finance Corporation and to the deposit of the proceeds of an issue of notes by the Commodity Credit Corporation, Treasury balances held on deposit with the Federal Reserve banks have not decreased as much in recent weeks as was expected on July lb when the Board announced the increase in reserve requirements. As a consequence the increase in member bank reserve balances has been temporarily smaller than was estimated at the time. According tq present indications excess reserves of member banks after the increased requirements go into effect on August 15 will be between $1,700,000,000, and $1,750,000,000 rather than $1,900,000,000 as was previously estimated. The System's holdings of bills discounted increased $4,000,000 during the week. Relatively small changes were reported in holdings of 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 August 12, were as follows: Increase or decrease since Aug. 12 Aug. 5 Aug. Ik W5 (I11 millions of dollars) Bills discounted S +2 Bills bought -2 , 3 U. S. Government securities Industrial advances (not including 23 million commitments - August 12) 29 Other Reserve bank credit 7 +10 TOTAL RESERVE BAM CREDIT 2,^77 +lk Monetary gold stock 10,661 +11 +1,^77 +61 Treasury currency 2,49s >2 Money in circulation 6,170 +7 +6i2 Member bank reserve balances 6,116 +111 +So2 Treasury cash and deposits with F.R. banks 2,759 -1O7 •-l6 Nonmember deposits and other F*R„ accounts 592 +17 '+82 (B-gOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B-SOla Released for publication Friday morning, Aug. lH,1936; not earlier. ASSETS AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAUKS COMBINED (In thousands of dollars) Aug. 12,1936 Aug. 5,193.6 Aug. ll+,1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,225,038 8,211,01+6 6,365,767 Redemption fund - F. R. notes . . . .. 13»720 13.720 21,527 Other cash 289.980 288,635 236.987 Total reserves . . 8,528,738 8,513,1+01 6,621+, 281 Bills discounted: Secured by U.S.Gov't obligations,direct 2,726 or fully guaranteed 5,552 1»S56 Other "bills discounted 2,311 2,10U 3^27 Total bills discounted 7,863 3,960 6,153 Bills bought in open market . . . . .. 3,09*+ 3>092 l+,693 Industrial advances . . . . 28,782 28,888 29,1^7 U. S. Government securities: Bonds . . . . . .. * 32^.721 32^,721 290,213 Treasury notes . . . . . . . .. ; . * lj%6,'719 1,496,719 1.597.723 Treasury bills 6osi787 608,787 ^2,209 Total U.S. Government securities 2,1+30,227 2,1+30,227 2,1+30,205 Other securities 181 181 Total bills and securities 2,l+70,ll+7 2,1+66,31+8 2,1+70,198 Due from foreign banks . . . . . . . .. 219 221 631 F. R. notes of other banks 23,3^+8 22,5^0 18,1+81+ Uncollected items 598,183 51+7,616 530,5H Bank premises 4-8,055 1+8,056 1+9,965 All other assets 1+1+,152 1+1+.190 ^717 TOTAL ASSETS 11,712,81+2 11,61+2,372 9,739,787 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,983,1+73 3,979,8ll+ 3,321,026 Deposits: Member bank - reserve account 6,ll6,0Sl+ 6,00^,796 5,25!+, 282 U.S.Treasurer - General account . . .. 338,062 ^39,391 33.79S Foreign bank 86,1+38 71,040 23,995 Other deposits 250,309 21+9,675 226,588 Total deposits 6,790,893 6,76^,902 5,532,663 Deferred availability items . . .. . . 591,15!+ 550,985 52l+,5l+0 Capital paid in 130I177 130,205 11+6,665 Surplus (Section 7) 1%,501 145,501 ll+l+,893 Surplus (Section 13b) 26,^13 26,513 22,621 Reserve for contingencies ^l+'lUl 3^,105 30,722 All other liabilities 101990 10,31+7 10.597 TOTAL LIABILITIES 11,712,81+2 11,61+2,372 9,739,727 Ratio of total reserves to deposit and 7^.8$ F. R. note liabilities combined . . .. 79.2$ 79.2$ 23,921 Commitments to make industrial advances 23,391+ 23,1+53 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAKES OH AUGUST 12, 1936 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due fromU. S. Treasury 8,225,038 508,473 3,220,518 402,708 602,171 271,391 215,891 l,6l4,326 219,887 181,798 255,243 157.122 575,510 Redemption fund - F. R. notes 13,720 2,011 1,753 916 483 676 2,990 57^ 853 204 932 375 1,953 Other cash 289,980 33,879 74,215 37,5^0 26,413 15,253 10,911 35,983 13,816 7,727 12,760 6,927 14,556 Total reserves 8,528,738 544,363 3,296,486 44-1,164 629,067 287,320 229,792 1,650,883 234,556 189,729 268,935 164,424 592,019 Bills discounted: Secured by U.S.Gov't obligations direct or fully guaranteed 5,552 65 4,918 195 100 2 30 — 25 >»l 1 23 l64 , 30 Other bills discounted 2,311 — 1,737 — — 69 42 — 22 — 59 382 — Total bills discounted 7,863 65 6,655 195 100 71 72 — ^7 —- 82 546 30 Bills bought in open market 3,094 225 1,103 317 294 121 108 386 61 87 87 218 Industrial advances 28,782 3,096 7,090 5,089 1,500 3,611 705 1,804 534 1,170 893 1,562 1,728 U. S. Government securities: Bonds 324,7a 21,607 88,263 28,217 31,507 17,104 13,142 38,630 17,361 11,571 16,425 12,502 28,392 Treasury notes 1,^96,719 99,596 406,823 130,061145,220 78,839 60,575 178,054 80,018 53,33^ 75,70s 57,628 130,263 Treasury bills 602,727 40,510 165,475 52,902 59,068 32,067 24,639, 72,423 32,5^8 21,693 30,79^ 23,440 53,228 Total U.S. Gov»t securities 2,1130,227 161,713 660,561 211,180 235,795 128,010 98,356 289,107 129,927 86,598 122,927 93,570 212,483 — Other securities 181 m m • •• —_ —.- 181 — Total bills and securities 2,H70,l47 165,099 675,409 216,721 237,689 131,813 99,241 291,297 130,595 87,829 124,170 95,765 214,459 Due from foreign banks 219 17 82 21 21 10 8 26 4 3 6 6 15 F. R. notes of other banks 23,34s 327 5,828 ,, 763 1,19^ 1,600 1,685 "2,806 1,707 1,265 1,758 740 3,675 Uncollected items 598,183 59,330 141,562 44,288 57,219 >+9,739 22,429 86,110 ^,870 is,74o 35,650 22,297 35,949 Bank premises 48,055 3,113 10,854 5,080 6,525 2,919 2,284 4,830 2,453 1,531 3,360 1,526 3,580 All other assets 44,152 281 33,699 3,452 1,671 1,135 1,^33 70s 248 363 ^13 25s 491 TOTAL ASSETS 11,712,842 772,530 4,163,920 711,5^9 933,386 474,536 356,872 £ 2,036,660 394,433 299,^60 :4 34,292 285,016 250,188 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BANKS ON AUGUST 12, 1936 (In thousands of dollars) B—SOlc L I A B I L I T I ES Total Boston New Yorlc Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy.Dallas San Fran. F»R.notes in actual circulation 3,923,1+73 356,191 S15,l66 295,659 3 9 3 ,^ 182,31b 17^,831 91^,255 170,139 12^,522 152,883 8^,878 312,621 Deposits: Member "bank - reserve account S,ll6,0gH 305,^30 2,762,^99 315,689 202,063 124,240 93^,,7733C0 159,085 123,770 209,838 136,932 427,664 U.S.Treasurer - General account 338,062 17,712 9 9 ,% 14,162 2^,390 19.275 17,770 45,,774%9 IS,37s 16,9^9 24,185 23,253 16,188 Foreign "bank 66,1*38 6,392 31.537 2,034 7,9^7 3,SOI 3,023 10,021 2,592 2,073 2,502 2,505 5,961 Other deposits 2 ^ 09 3 ,^ 196,188 1,72** ?|01Q 2,068 2,215 7,632 4,007 271 23,03s Total deposits 6,790,893 332,950 3,089,719 339,615 451,648 228,149 147,101 992,715 187,-687 1^,799 236,796 154,863 472,851 Deferred availability items 591,15^ 59,702 13^,836 43,066 56,974 48 f 66s 21,5 72 86,072 26,463 is,90s 3^,939 24,263 35,691 Capital paid in 130,177 9,407 50,19^ 12,222 12,567 ^,723 ^,253 12,130 3,762 2,968 3,9^0 3,216 10,195 Surplus (Section 7) 145,501 9,902 50,825 13,406 1^,371 5,186 5,616 21,350 3,149 3,613 3,723 9,645 Surplus (Section 13 b) 26,513 2,87^ 7,7^4 4,231 1,007 3,41^ 75^ 1,391 hh''%% 1,003 1,142 1,252 1,121 Reserve for contingencies 3H,i4I 1,1*13 8,849 3,000 3,111 1,281 2,555 7,573 894 1,449 239 1,32s 1,249 All other liabilities 10,990 91 6,527 350 29H 167 190 1,174 287 662 140 833 215 TOTAL LIABILITIES 11,712,842 772,530 4,163,920 711,549 933,386 474,536 356,872 2,036,660 39M33 299,460 434,292 285,016 850,12s Commitments to make industrial advances 23,39^ 2,76s 9,0^7 304 1,427 2,319 233 77 1,7^ 90 394 536 4,4o4 MATURITY DISTRIBUTION OF BILLS &M> SECURITIES 91 days to To tal Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 7,S6; 6,097 273 205 654 Bills bought 3,09 76S 233 236 1,257 Industrial advances 28,782 1,395 67H S76 1,731 23,812 294 U. S. Government securities 2,^30,227 31,956 130,275 25,659 302,345 1,242,062 37,930 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT ON AUGUST 12, 1936 (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 4,292,933 378,59^ 917.310 312,732 ^77 195»751 195.735 950,660 179,003 123,925 166,260 95?30^ 359,137 Held by Federal Reserve bank 399.^65 22,403 102,144 17,073 20,063 12,337 20,904 36,405 4,'403 13,377 10,42b 40,566 In actual circulation 3>933.473 356,191 315,166 295,659 393,4l4 132,91^ 174,331 914,255 170,139 124,522 152,SC3 34,373 313,621 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,299,333 396,000 935,705 314,000 4i4,ooo 197,000 161,000 966,000 155,632 130,000 165,000 96,000 369,000 Eligible paper 6,507 65 5.356 195 100 71 72 47 — 73 493 30 U. S. Gov't securities 73,000 — 45,000 25,000 — 3,000 Total collateral 4,373,345 396,065 941,062 31M95 4}.4,ioo 197,071 206,072 966,000 130,679 130,000 163,073 96,493 369,030 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis