H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Saturday morning, ITov. 2S; of the Federal Reserve System not earlier. November 271 193^ C01JDITI01J OF FEDERAL RESERVE BA11KS The daily average volume of Federal Reserve bank credit outstanding during the wee!-: ended Ilovember 25» as reported by the Federal Reserve banlrs, w&s $2,U67,000,000, a decrease of $15,000,000 compared with the preceding week and of $7,000,000 compared with the corresponding week in 1935® On ilovember 25 total Reserve bank: credit amounted to $2,^+57,000,000, a decrease of $7,000,000 for the week* This decrease corresponds with a decrease of $56,000,000 in member ban1: reserve balances and an increase of $35*000,000 in monetary gold stock, offset in part by increases of $5^,000,000 in money in circulation, $21,000,000 in Treasury cash and deposits with Federal Reserve banks and $10,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on Ilovember 25 were estimated to be approximately $2,210,000,000 in excess of legal requirements. Relatively small changes were reported in the System's holdings of bills discounted, purchased bills and industrial advances. A decrease of $7>000,000 in holdings of United States Treasury bills was offset by increases of $6,000,000 in United States Treasury notes and $1,000,000 in United States bonds* Changes in the amount of Reserve baric credit outstanding and in related items during the week and the year ended Ilovember 25» 193&, were as follows: Increase or decrease since ITov. 25 ITov. IS Uov • 27 1935 , (In millions of dollars) r Bills discounted O +1 Bills bougjit 3 -2 U. S. Government securities 2,1+30 W'll « — Industrial advances (not including 22 million commitments - November 25) 26 -7 Other Reserve bank credit -8 -7 -7 TOTJIX HESERVl MM CREDIT 2,^57 -7 -15 Monetary gold stock ll,lb2 +35 Treasury currency 2,520 — Money in circulation 6,^29 +609 Member bank reserve balances 6,795 -56 +1.006 Treasury cash and deposits with F.R. banks 2,4U9 +21 -176 Honmember deposits and other F.R. accounts kS-j +10 ^67 (B-SOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, ITovember 28,1936; earlier. B-SOla ASSETS MD LIABILITIES OP THE TWELVE FEDERAL RESERVE BiUTKS COMBINED (In thousands of dollars) ITov. 25,1936 Hoy. 18,1936 Kov. 27,1935 A S S E TS Gold certificates on hand and due 8,768,838 7,266,651 from U. S. Treasury 8,730,839 Redemption fund - F. R. notes 11,407 12,585 17,668 Other cash . . .. 247,458 258,858 227,249 Total reserves 9,027,703 9.002,282 7,511,568 Bills discounted: Secured by U.S.Gov't.obligations,direct or fully guaranteed 4,211 3.3^5 3.200 Other bills discounted 1,854 1,900 2.832 6,065 Total bills discounted 5.245 6,032 Bills bought in open market 3,086 3»0So 4,674 Industrial advances 25,980 26,037 32,634 U.S.Government securities: Bonds 381,326 379,960 219,9^ 1,651,757 Treasury notes 1,449,163 1.443,363 Treasury bills 599*738 6o6,904 558,482 Total U.S. Government securities . 2,430,227 2,430,227 2,430,179 Other securities ... — , , — 181 Total bills and securities . . .. 2,465,358 2,464,595 2,473,700 Due from foreign banks 221 221 645 26,926 F. R. notes of other bonks 25,464 20,038 Uncolloctod items 615,194 71S.925 531.236 Bank premises 48,066 48,066 50,278 All other assets . . 42,673 41,725 43,329 TOTAL ASSETS 12,224,679 12,302,7^0 10,630,794 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,169,201 4,134,270 3,626,782 Deposits: Member bank - resorvo account . . .. 6,79)+,650 6,850,652 5,788,991 U.S.Treasurer - General account . . . 79,079 5°,485 53.768 foreign bank 53.955 52,702 43.787 Other deposits 152,525 , >893 —SLJSg Total deposits 7,080,209 7.097,732 6,124,328 623,656 Deferred availability items 720,127 533,284 Capital paid in 130,247 130,224 130,436 Surplus (Section 7) 145,501 145,501 144,893 Surplus (Soction 13b) 27,088 27,088 23,457 Reserve for contingencies 34,290 3^.295 30,700 All other liabilities , 14,487 13,503 l6,9l4 TOTAL LIABILITIES 12,224,679 12,302,740 10,630,794 Ratio of total reserves to deposit and F. R. note liabilities combined ..." CO.3$ 80.1$ 77.0$ Commitments to make industrial advances 22,040 22,138 28,002 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OP THE FEDERAL RESERVE BAKES Oil NOVEMBER 25, 1936 (In thousands of dollars) B-SOlb A S S E TS Total 3oston New York Phila. Clove. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from u. s. Treasury S,768,838 577,657 3,355.108 488,678 644,638 291,093 236,937 l,73^,576 254,614 178,321 245,339 165,182 596,695 Redemption fund - E. R. notes 11,^07 1,559 973 19S 672 239 2,368 577 1,619 6SS 720 227 1,567 25,704 27,753 20,529 12,305 17,172 6,629 other cash 247,453 56/476 14,358 24,883 14,359 7,^75 19,315 Total reserves 9,027,703 604,920 ; 5 /412,557 516,629 665,339 306,190 251,610 1,760,036 273,^5 135,63s 260,418 172,884 617,577 Dills discounted: Secured "by U.S.Gov't obligatio ns, direct or fully guaranteed 4,211 504 2,8l6 304 75 12 99 — 151 — 205 Other tills discounted 1,854 37 1,444 46 46 22 17 5S 45 12 66 """"""2266 35 Total "bills discounted 6,065 541 4,260 350, 121 3^ 116 53 196 12 271 26 80 3ills "bought in open market 3,086 225 1,09s 317 294 120 108 335 86 61 37 218 Industrial advances 25,9SO 2,914 6,402 ^,995 1,236 2,782 496 1,539 488 1,103 313 1,403 1,809 U.S. Government securities: Bonds 321,326 27,332 101,245 32,793 33,563 19,69^ 15,563 44,552 18,171 1^,233 19, 7^3 15,791 33,641 Treasury notes 1,449,163 103,871 334,763 124,622 1^6,555 74,843 59,14-7 169,311 69,058 54,039 75*048 60,010 127,346 Treasury bills 599,733 ^2,927 159,235 51,575 60,651 30,973 24,473 70,070 23,530 22,335 31,059 24,836 52,909 Total U.S.Gov't securities 2,430,227 174,190 645,243 208,990 245,769 125,510 99,133 233,933 115,309 90,707 125,355 100,637 214,396 Total bills and securities 2,465,353 177,870 657,003 214,652 247,420 123,446 99,903 235,915 116,579 91,333 127,026 102,153 216,503 Bug from foreign banks 221 17 85 21 20 10 3 26 4 3 6 6 15 E.R.notes of other banks 25,464 369 7,105 660 1,343 2,221 2,002 3,230 1,322 353 2,009 667 3,62s Uncollected items 615,194 64,509 156,606 46,898 56,75s 5^,259 21,772 79,629 26,662 15,675 31,861 23,665 36,900 Bank premises 4s,o66 3,113 10,360 5,07s 6,525 2,919 2,284 4,833 2,453 1,534 3,361 1,526 3,530 All other assets 42,673 47s 32,351 CO j cO*OrtOr* 1,706 1,220 1,39^ 579 275 300 301 330 351 TOTAL ASSETS 12,224,679 851,276 4,277,067 786,826 979,616 ^95,265 373,97s 2,134,293 ; 420,700 295,886 424,932 301,231 878,554 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL RESERVE BAUZS OH NOVEMBER 25, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 4,169,201 363,911 269,520 307,37s 405,170 204,157 185,07s 936,700 121,65s 133,263 157.697 92,154 331,415 Deposits: U M . e S m . b T e r r e a b s a u n r k e r - - re s G e e r n v e e r al a cc a o c u c n o t u nt 6,7 7 9 9 ^ , , 0 6 7 5 9 0 339 1, , 9 0 6 9 2 2 3,01 1 3 3 , ,2 9 0 ^ 2 5 333 3, , 3 9 9 5 9 6 4 1 4 ^ 2 , ,7 1 5 3 0 0 2 1 0 0 5 ,2 9 9 5 0 5 I4S 1, , 3 O 0 6 7 5 1,05 11 3 , , 2 3 9 4 2 4 12 2 9 , ,1 3 0 3 7 7 12 2 3 , , 3 76 6 3 1 22 2 0 , ,s 1 i 42 4 162 3 , , 9 3 3 95 5 455 6 , ,6 9 5 2 0 4 20,832 6,051 1,565 1,252 1,513 1,513 Foreign 'bank 53,955 3,s6O 4,351 4,799 2,295 1,325 3,599 Other deposits 152,525 4,011 76,363 1,324 24,775 3,SS0 7,273 1,356 7,534 4,204 792 3,272 16,61 10 6 Total deposits 7,020,209 393,925 3,124,948 399,030 4s6,454 222,420 153,975 1,072,543 200,593 136,520 225,267 171,615 422,359 Deferred availability items 623,656 64,466 156,253 46,540 56,46s 53,735 21,495 21,181 28,122 16,190 32,276 26,370 40,450 Capital paid in 130,247 9,3S6 50,259 12,221 12,569 4,716 4,255 12,189 3,756 2,947 3,953 3,822 10,174 Surplus (Section 7) 145,501 9,902 50,825 13,406 14,371 5,1S6 5,616 21,350 4,655 3,149 3,613 3,7S3 9,645 Surplus (Section 13 b) 27,OSS 2,874 7,741+ 4,231 1,007 3,448 754 1,391 546 1,003 1,142 1,252 1,696 Reserve for contingencies 34,290 1,513 8,849 3,000 3,110 1,304 2,563 7,573 946 1,415 s4o 1,328 I,S49 All other liabilities 14,487 299 8,669 520 467 249 242 1,371 364 739 194 907 466 TOTAL LIABILITIES 12,224,679 851,276 4,277,067 786,826 979,616 495,265 37s,97s 2,134,298 420,700 295,326 424,982 301,231 272,554 Commitments to make industrial advances 22,o4o 2,373 3,962 242 1,363 2,366 299 48 1,287 73 343 492 4,192 MATURITY DISTRIBUTION OF BILLS ALTD 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 6,065 Bills discounted 4,832 542 504 144 43 Bills bought 3,es6 163 99 204 2,620 Industrial advances 25,930 1,017 334 819 713 2,025 21,072 U.S.Government securities 2,430,227 44,586 135,042 28,951 148,587 251,766 1,S21,295 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE SIA.TEME3TT Oil HOVEUBER 25, 1936 (in thousands of dollars) B-S01d Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: issued to F.R.fcanic by F.R.agent 1+,1+73,196 388,589 961,57^ 318,oi& 1+31,267 217,1+51+ 207,55^ 970,si+8 191,258 138,067 168,782 100,026 379,733 Held by Federal Reserve bank 303,995 2^,678 92,05^ 10,l66 26,097 13,297 22,1+76 3 M ^8 9,600 H,2()l+ 11,055 7,872 ^,318 in actual circulation i+,169,201 363,911 869,520 307,S78 1^5,170 20^,157 185,078 936,700 181,658 133.863 157,697 92,15^ 331,^15 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and 166,632 due from U. S. Treasury ^,^37,838 396,000 965,706 319,000 1+33,000 219,000 166,000 986,000 129,000 167,000 101,500 389,000 Eligible paper l+,395 50I+ 2,937 30*+ 75 12 99 — 152 — 256 11 1+5 U. S. Gov't securities SS,000 — —- 1+5,000 — 30,000 10,000 3*000 — Total collateral ^,530,233 396,50I+ 968,61+3 319,301+ ^33,075 219,012 211,099 986,000 196,731+ 139,000 170,256 101,511 389,0^5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis