H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Uov, 20; of the Federal Reserve System not earlier. November 19, 193& C0UDITI017 OF FEDERAL RESERVE BABES The daily average volume of Federal Reserve bank credit outstanding during the week ended ITovember IS, as reported by the Federal Reserve banks, was $2,^82,000,000, an increase of $7*,000,000 compared with the preceding week and a decrease of $9,000,000 compared with the corresponding week in 1935® On November IS total Reserve bank credit amounted to $2,HSU,000,000, a decrease of $6,000,000 for the week. This decrease corresponds with a decrease of $18,000,000 in money in circulation and increases of $22,000,000 in monetary gold stock and 000,000 in Treasury currency, offset in part by increases of $26,000,000 in member bank reserve balances, $7,000,000 in Treasury cash and deposits with Federal Reserve banks and 000,000 in nonmember deposits and other Federal Reserve accounts Member bank reserve balances on November IS were esti- # mated to be approximately $2,270,000,000 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 the week and the year ended November IS, 1936, were as follows: Increase or decrease since ITov/ lS Uov 10 Nov. 20 # 1936 1236 1935 (in millions of dollars) Bills discounted 5 -2 Bills bought 3 -2 U* S Government securities 22,,^^3300 t — — Industrial advances (not including 22 million commitments - ITovember IS) 26 — -7 Other Reserve bank credit -1 +1 TOTAL RESERVE BANK CREDIT -7 Monetary gold stock 11,127 +22 +1,323 Treasury currency 2,520 +111 Money in circulation 6,375 -is +636 Member bank reserve balances 6,851 +26 +1,069 Treasury cash and deposits with F.R.banks 2,U2S +7 -220 llonmember deposits aM other F. R. accounts U57 '+H -58 (B-SOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, November 20,193°; llot earlier, B-SOla ASSETS AMD LIABILITIES OP THE TWELVE BEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Nov. 18,1936 Hov. 10,1936 Nov. 20,1935 ASSETS Gold certificates on hand and due fromU. S. Treasury 3,730,339 8,726,337 7,l6l,648 Redemption fund - P. R. notes . . . .. 12,585 1M53 18,59^ Other cash 258,858 2*6,801 2*12.110 Total reserves 9,002,282 8,981,991 7,^22,356 Bills discounted: Secured by U.S.Gov't obligations,direct or fully guaranteed 3,345 4,128 2,500 Other bills discounted 1,900 2.738 2,922 Total bills discounted 5,245 6,866 5,422 Bills bought in open market 3,086 3,086 67H Industrial advances . . .. . . . . .. 26,037 26,281 32,562 U. S. Government securities: Bonds 379,360 379,960 225,753 Treasury notes 1,44-3,363 1,443,363 1,646,009 Treasury bills 60S.90U 606,904 558.482 Total U.S. Government securities . . . 2,430,227 2,430,227 2,430,244 Other securities — — 181 Total bills and securities 2,464,595 2,466,460 2,473,083 Due from foreign banks 221 220 645 P. R. notes of other banks 26,926 23,269 23,945 Uncollected items 718,925 573,938 599,082 Bank premises . .. . 4S,056 48,067 50,274 All other assets 41,725 40,988 42.518 TOTAL ASSETS 12,302,740 12,134,953 10,611,903 L I A B I L I T I ES P. R. notes in actual circulation . . . 4,134,270 4,142,981 3,570,4l6 Deposits: Member ban!: - reserve account . . . . 6,850,652 6,824,565 5,781,642 U.S.Treasurer - General account . . . . 50,485 54,589 50,458 Poreign bank 52,702 4g,S04 29,396 Other deposits 143,893 l42.440 232.142 Total deposits 7,097,732 7,070,39^ 6,093,638 Deferred availability items 720,127 570,910 601,723 Capital paid in 1^0,224 130,219 130,306 Surplus (Section 7) 1^5,501 145,501 144,893 Surplus (Section 13 b) 27,OCC 27,088 23,457 Reserve for contingencies 3^,235 34,291 30,700 All other liabilities 13.503 13,565 16,770 TOTAL LIABILITIES 12,302,740 12,134,953 10,611,903 Ratio of total reserves to deposit and P. R. note liabilities combined . . .. SO.I70 80.1$ 76,8$ Commitments to make industrial advances . 22,138 *22,436 27,486 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BAMS OS NOVEMBER 18, 1936 (in thousands of dollars) 3~80rb A S S E TS Total Boston Few York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kalis.Cy. Dallas San Fran. Sold certificates on hand and due fron u. S. Treasury 3,730,239 577,773 3,322,430 496,503 546,951 293,654 232,221 1,718,330 252,195 175,575 252,77s 165,249 595,575 Redemption fund - P.R. notes 12,585 1,590 1,135 293 7^7 595 2,447 593 1,642 702 7^7 253 1,694 Other" cash 258,858 22,622 63,133 30,103 21,670 14,821 11,232 26,722 15,626 6,291 14,132 7,306 12,522 Total reserves 9,002,222 607,990 3,336,699 526,299 669,322 309.070 246,506 1,745,211 269,469 123,562 267,623 173,402 515,791 Bills discounted: Secured by U.S.Gov't obligaJb iens, direct or fully guaranteed 3,345 449922 Cr>, r ^Crl*UC r<J 125 so 12 75 101 — f r- 2 4455 Other "bills discounted 1,900 37 1,520 47 46 22 17 52 45 12 14 47 35 Total bills discounted 5,245 529 3,808 232 126 34 92 58 146 12 79 49 so Bills bought in open market 3,086 225 1,098 317 294 120 102 385 86 61 87 37 218 Industrial advances 26,037 2,904 6/409 5,013 1,262 2,739 492 1,540 482 1,103 814 1,402 1,809 U. S. Government securities: Bonds 379.960 2277,,2233^^ 100,223 32,675 33,425 19,623 15,502 4444,,339922 1133,,110077 1144,,112222 19,677 1155,,773344 33,520 Treasury notes 1,443,363 103.1+56 323,222 124,124 145,962 74,543 53,910 162,634 62,721 53,372 74,742 59,770 127,335 Treasury bills 606,904 1+3,500 151,132 52,191 61,375 31.344 24,770 70,907 22,921 22,653 31,430 25,133 53,541 Total U.S.Govt, securities 2,430,227 174,190 61+5,243 202,990 2^5,769 125,510 99,132 223,933 115,309 90,707 125,255 100,637 214,396 Total bills and securities 2,464,595 177,34S 656,55c > 214,552 247,451 122,453 99,326 225,916 116,529 91,823 126,235 102,181 216,503 Due fron foreign banks 221 17 SR 21 20 10 Ori 26 4 3 6 6 15 E.R. notes of other banks 26,926 339 7,462 720 1,575 2,813 • 1,694 3,502 1,723 1,33S 1,663 651 3,335 Uncollected items 7is,925 7^,653 174,335 52,370 62,479 61,332 27,431 93,955 30,913 20,252 43,596 30,737 33,261 Batik premises 4s,o66 3,H3 10,260 5,072 6,525 2,919 2,224 4,833 2,453 1,534 3,361 1,526 3,530 All other assets UI,725 U25 31,552 3,09S 1,746 1,203 1,412 605 322 302 303 317 330 TOTAL ASSETS 12,302,74-0 266,445 4,267,552 202,79s 995,134 505,793 379,221 2,134,64s 421,4lS 299,422 443,447 302,226 377,915 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AH) LIABILITIES OP THE FEDERAL RESERVE BAMS OH NOVEMBER IS, 1936 (in thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Pran. r.R.notcs in actual circulation U, 13^ 270 3Sl,SS3 252,202 30l f S^3 399129^ 20U^2'4 126,397 931,750 121,363 1331219 157^23 92,32^ 331,sUs Deposits: Member bank - reserve account O. o 50,552 335,670 3 , 0 1 6 , 5 30 1+03,923 4 5 3 , 3 36 2 1 6 , 6 32 1U2,597 1 , 0 5 1 , 7 09 134,717 1 2 3 , 4 34 2 2 7 , 3 36 lS4,i6o 459,55s U.S .Treasurer - General account 50,1+35 2, 4% 10,034 2,775 3 , 7 66 4 , 2 71 1, 4 35 4,599 2,71+1 2 , 5 0s 2,946 3 , 2 52 U, 6G3 Foreign bank 52,702 3,360 19,579 4 , 8 51 4,799 2,295 1,325 6,051 1 , 5 65 1 , 2 52 1 , 5 13 1,513 3,599 Other deposits 11+3,393 4,439 63,434 1 , 3 30 24,359 3,549 7 , 1 33 1,690 7 , 7 92 4 , 2 34 ^ 3 , 1 36 1 6 , 3 31 Total deposits 7, 097,732 1+07,1+61+ 3, 1 1 4, 6 27 1+13,379 1+96,260 226,797 153,01+0 1,064,049 196,815 136,1+28 2 3 2 , 6 11 1 7 ? , 1 11 4 s 4 , i 5i Deferred availability items 720,127 73,1- 09 175,4^ 31 54V ,1\+ 62 68. ,120_ 59. ,684. -y . »35 _ 9 9\4 ,794\ . 3 _ 2,94 * 3 20_ ,530 43,657 33,310~ 33, ,12s Capital paid in 130,224 9,397 ,50 ,2C4T0U 1i2C,l2C0U7 l 12,569 4,716 4,255 12,188 3,756 2,94s 3,952 3,822 1 0 , 1 74 Surplus (Section 7) 11+5,501 9,902 50,825 1 3 , 4 06^ r 14,371 5,136 5 , 6 16 21,350 4,655 3,149 3,613 3,733 9,645 Surplus (Section 13 b) 27,088 2,871+ 7,744 4 , 2 31 ,1,007 3,448 754 1,391 546 1,003 1,142 1 , 2 52 1,65)6 Reserve for contingencies 34,295 1,513 8:,.8s449q 3 ^ , . 0 0 0 0 0 0 3 , 1 10 1,304 2,563 7,573 946 1,420 s4o 1,323 1,349 All other liabilities 13,503 303 7,584 470 453 239 237 394 741 209 896 424 TOTAL LIABILITIES 12,302,740 806,445 4 , 2 6 7 , 5 52 802,793 9 9 5 , 1 34 505,793 3 7 9 , 2 21 2 , 1 3 4 , 6 4s 4 2 1 , 4 is 299,488 443,447 308,826 8 7 7 , 9 15 Commitments to make industrial advances 22,133 2,385 9,016 2 46 1 , 3 59 2 , 3 75 3 00 4s 1 , 2 37 7^ 351 1+95 4,202 LJA.TURI2Y DISTEI3UT1017 OJ SILLS MTD 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 5,245 4,054 479 386 317 9 Bills "bought 3,086 220 158 116 2,592 Industrial advances 26,037 991 34s 7S0 797 2,004 21,117 U.S.Government securities 2,430,227 49,968 139,372 32,521 143,297 256,416 1,808,653 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE S2A.T3I.3iTT OH ITOVEI.IBSR IS, 1936 (In thousands of dollars) B-SOld Total Boston Hew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.barQ^/bylft.agent 4,466,513 335,971 960,677 3 1 6 , 2 60 426,677 217,976 20S,950 970,202 191,1^7 136,953 IbS,?S9 100,193 333,213 Held by Federal Reserve bank 332,243 24,OSS 103,475 l4,6l7 27,333 13,552 22,053 38,1*52 9,734 3,734 10,356 7,374 51,365 In actual circulation 4,134,270 361,333 352,202 301,643 399,294 204,424 136,397 931,75° 131,363 133,219 157,^23 92,324 331.SUS Collateral held by agent as security for notes issued to bank; Gold certificates on hand and due froa U«,S. Treasury l',437,S3S 39^,000 9 6 5 ,7 0b 318,000 430,000 219,000 166,000 9So,000 1 6 6 , 6 32 133,000 167,000 101,500 339,000 Eligible paper 3,53^ 492 2,444 IS5 SO 12 75 — 102 — 65 34 U5 U. S. Gov't securities 34,000 — — — — — 45,000 — 30,000 6,000 3,000 Total collateral ^ , 5 2 5 , 3 72 396,492 962,150 3 1 3 , 1 35 430,030 2 1 9 , 0 12 2 1 1 , 0 75 936,000 1 9 6 , 7 34 139,000 170,065 1 0 1 , 5 3^ 339,045 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis