H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PHSSS Released for publication Board of Governors Friday morning, Sept 11; of the Federal Reserve System # not earlier September 10, 193&# # OOHDIEIOH OF FEDEHAL EESERVE BAMS ®ae daily average volume of Federal Reserve bank credit outstanding during tho week ended September St as reported by the Federal Reserve banks, was $2,^791000,000* an increase of $7,000,000 compared with the preceding week and a decrease of $1,000,000 compared with the corresponding week in 1935• On September 9 total Reserve bank credit amounted to $2,^82,000,000, an increase of $19,000,000 for the week. This increase corresponds with increases of $51,000,000 in money in circulation, $30,000,000 in member bank reserve balances and ,000,000 in nonmombor deposits and othor Foderal Rcsorvo accounts, offset in part by increases of $19,000,000 in nonotafy gold stock and $6,000,000 in Treasury currency and a docroaso of $62,000,000 in Treasury cash, and deposits with Federal Reserve banks. Member bonk reserve balances on September 9 were estimated to be approximately $2,000,000,000 in excess of legal requirements. Relatively small changes were reported in the System's holdings of bills discounted, purchased bills, industrial advances and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during tho week and the year ended September 9, 1936, were as follows: Increase or decrease since Sept, 9 Sept. 2 Sept. 11 1936 1935 (In millions of dollars) Bills discounted S -1 -3 Bills bought -2 U. S. Government securities 2,1*30 ~ Industrial advances (not including 2k million commitments - Septembor 9) 29 -1 Other Reserve bank credit 12 +20 -US TOm RESERVE BAKU CREDIT 2,1+S2 +19 +3 Monetary gold stock 10,736 +19 +1.517 Treasury currency 2,50S +117 Money in circulation 6,276 +51 +63S Member bank reserve balances 6,^71 +30 +1,083 Treasury cash and deposits with F. R. banks 2,1*20 -62 -209 llomcmber deposits and other F. R. accounts 559 +2^ +125 (B-SOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Sept. 11,1936; not earlier. B-SOla ASSETS AHD LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMKS COMBINED (In thousands of dollars) Sept. 9. 1936 Sept. 2, 1936 Sept. 11.1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 3,372,031 8,334,034 6,536,039 Redemption fund ~ F. R. notes 12,145 12,625 21,210 Other cash 248.066 268.885 217.951 Total reserves 8,632,242 8,615,5*14 6,775.200 Bills discounted: Secured "by U.S.Gov't obligations, direct or fully guaranteed 3,681 4,561 6,071 Other "bills discounted 4.352 4.04l 5.106 Total "bills discounted 8,033 8,602 11,177 Bills "bought in open market 3,095 3,°95 4,685 Industrial advances 28,628 28,522 29,55° U.S. Government securities: Bonds 324,721 324,721 266,561 Treasury notes 1,1*96,719 1,496,719 l,642,4l8 Treasury bills 608.787 608.787 521.231 Total U. S. Government securities . . 2,430,227 2,430,227 2,430,210 Other securities — 181 — Total bills and securities 2,469,983 2,470,627 2,475,622 Due from foreign banks 219 220 639 F. R. notes of other banks 26,775 25,346 18,077 Uncollected items 554,757 544,120 504,445 Bank premises 48,055 48,056 50,017 All other assets 45.139 44,581 49.127 ..TOTAL ASSETS 11,777,170 11,748,494 9,873,127 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,055,971 4,020,920 3,422,834 Deposits: Member bank - reserve account 6,471,333 6,440,625 5,388,277 U.S.Treasurer - General account . . .. 54,683 107,236 27,337 Foreign bank 59,235 50,267 18,581 Other deposits 211.572 229.285 167.635 Total deposits 6,796,823 6,827,410 5,601,830 Deferred availability items 543,220 552,398 501,271 Capital paid in 130,172 130,163 134,046 Surplus (Section 7) 145,501 145,501 144,893 Surplus (Section 13 b) 27,088 27,088 23,164 Reserve for contigencies 34,236 34,236 30,778 All other liabilities 44.159 10.778 l4.311 TOTAL LIABILITIES 11,777,170 11,748,494 9,873,127 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 79.5$ 79.*$ 75.1$ Commitments to make industrial advances 23,721 23,699 26,538 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 9, 1936 (In thousands of dollars) B-SOlb A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 3,372,031 523,66s 3,194,147 431,451 624,339 2S0,523 230,7S7 1,690,76s 226,521 177,235 256,775 155,399 530,368 Redemption fund - F. R. notes 1 2 , 1 , S 69 1,283 723 742 354 2,787 317 791 175 895 337 1,872 Other cash 248,066 32,067 6i,4l4 33,163 23,252 13,107 8,458 28,925 10,232 7,017 12,055 6,200 12,176 Total reserves 8,632,242 557,604 3,256,844 ^65,337 648,3S3 293,984 242,032 1,720,010 237,544 184,427 269,725 161,936 594,4i6 Bills discounted: Secured by U.S.Gov't obligations direct or fully guaranteed 33,,668811 225566 22,,227700 229900 2 2 4 4 0 0 2 2 7 7 30 > < — 141^7 7 — 2200 321 SO Other hills discounted 44,,335522 4477 33,,558811 2 2 8 8 3383 111100 93 3355 2299 77 44o0 320 24 Total hills discounted 8S,,003333 330033 55,,885511 331188 ..227788 113377 123 3355 117766 77 6600 6% 104 Bills bought in open market 33,,009955 222266 11,,110022 331177 229944 112211 10S 33S877 8877 6 6l 1 8877 87 21S Industrial advances 2288,,662288 33,,222222 77,,007777 55,,003388 11,,445511 33,,668844 586 11,,775500 552255 11,,118855 990055 1,548 1,657 U. S.Government securities: Bonds 324,721 21,607 88,263 28,217 31,507 17,104 38,630 17,361 11,571 16,425 12,502 28,392 Treasury notes 1,496,719 99,596 406,323 130,061 145,220 78,839 178,054 S0,01S 53,334 75,703 Treasury hills 608,737 40,510 165,475 52,902 59,06S 32,067 72,423 32,54s 21,693 30,794 Total U.S. Gov't securities 2,430,227 l6l,713 660,561 211,ISO 235,795 128,010 98,356 289,107 129,927 36,598 122,927 93,570 212,483 Total hills and securities 2,469,983 165,464 674,591 216,853 237,818 131.952 99,173 291,279 130,715 87,851 123,979 95»S46 214,462 Due from foreign hanks 219 17 34 21 20 9 3 26 4 3 6 6 15 F.R.notes of other hanks 26,775 354 9,431 493 1,355 1,973 1,390 2,264 1,644 1,745 1,975 572 3,574 Uncollected items 554,757 52,4l6 128,074 40,457 51,401 50,036 22,720 77,719 24,S93 16,762 32,383 24,490 33,406 Bank premises 43,055 3,113 10,355 5,079 6,525 2,919 2,284 4,831 2,452 1,531 3,360 1,526 3,580 All other assets ^5,139 420 35,137 3,3^1 1,639 . 1,103 1,392 53s 225 325 331 240 44S TOTAL ASSETS 11,777,170 779,388 4,ii5,oi6 731,586 947,l4i 431,976 368,999 2,096,667 397,477 292,644 431,759 2S4,6i6 349,901 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE SAMS ON SEPTEMBER 9, 19 (In thousands of dollars) B-SOlb L I A 3 I L I TI Total 3oston Hew York PMla. Glove, Rich. Atlanta Chicago St.Louis Minn., Kans.Cy. Dallas San Fran. F»R.notes in actual circulation 4,055,971 361,015 829,4-84 297,625 400,583 190,,213 121,913 921,60S 170,498 127,979 155.902 88,317 330,828 Deposits: Member "bank - reserve account 6,471,333 316,261 2,822,809 351,31s 448,248 218,860 145,803 1,041,597 175,621 132,245 227,780 150,603 440,188 U.S.Treasurer - General account 54,683 1,757 14,630 3,31*+ 5,238 3,537 2,341 4,484 4,660 1,373 3,065 5,011 5,273 Foreign banks .59,235 4,333 22,6l4 5,446 5,387 2,577 2,049 6,793 1,757 1,405 1,69s 1,698 3,478 Other deposits 211,572 5,212 162,585 1,827 4,537 2,305 __2iZ2L 4,250 70s 2,276 1^92 Total deposits 6,796,823 327,563 3,022,638 361,905 463,410 228,568 152,498 1,054,929 189,769 139,273 233,251 159,588 463,431 Deferred availability items 543,220 51,424 122,846 38,750 5i,2l4 48,422 21,218 76,207 26,850 16,165 32,586 25,686 31,852 Capital paid in 130,172 9,409 50,179 12,221 12,575 4,723 4,247 12,154 3,757 2,950 3,955 3,825 10,177 Surplus (Section 7) 1^5,501 9,902 50,825 13,406 14,371 5,186 5,6 75 l6 4 21,350 4,655 3,149 3,613 3,783 9,645 Surplus (Section 13 b) 27,088 2,874 7,7^ ^,231 1,007 3,448 1,391 546 1,003 1,142 1,252 1,696 Reserve for contingencies 34,236 1,513 8,849 3,000 3 ,m 1,282 2,555 7,573 894 1,442 s4o 1,328 I,S49 All other liabilities ^hm. 15,688 22,451 448 870 13H 198 1,^.5 508 683 464 031 423 TOTAL LIABILITIES 11,777.170 779,388 4,115,016 731,586 947,i4l 481,976 368,999 2,096,667 397,477 292,644 431,759 284,616 849,901 Commitments to make industrial advances 23,721 2,658 9,508 235 1,359 2,373 30s 49 1,740 83 390 509 4,509 MATURITY DISTRIBUTION OF BILLS AMD 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 3,033 6,718 157 233 587 337 1 Bills bought 3,095 1,598 427 68 1,002 Industrial advances 28,628 1,524 459 682 696 1,990 23,277 U. S„ Government securities 2,430,227 85,786 44,489 71,430 88,216 362,259 1,777,997 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDE2AL RESERVE ITOTE STATEMENT 01T SEPTEMBER 9, 1936 (in thousands of dollars) B-SOlb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. Federal Reserve notes: issued to F.R.bank by agent ^2,679 378,286 92M79 313,225 ^23,3^1 200,762 202,220 951,791 179,707 133,795 165,991 98,017 371,065 Held by Federal Reserve batik: 286,708 17,271 9*1,995 15,600 22,758 10,5^9 20,307 30,183 9,209 5,8l6 10,083 9,?00 ^0,237 in actual circulation 4,055,971 361,015 829,484 297,625 400,583 190,213 181,913 92i,6og 170,49s 127,979 155,908 88,317 330,828 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,328,838 396,000 935,706 314,000 427,000 202,000 l6l 000 966,000 155^32 134,000 165,000 98,500 374,000 v Eligible paper . 6,130 2S1 4,511 — 251 124 76 — 167 — 48 583 89 U.S. Gov't securities 73,000 — — — — ~ 45,000 — 25,000 — 3,000 Total collateral 4,407,96s 396,281 940,217 314,000 427,251 202,124 206,076 966,000 180,799 134,000 l6s,o4s 99,083 37^,089 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis