H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Dec. 11; of the Federal Reserve System not earlier December 10, 193^ # COitDITIOl! OF FEDERAL RESERVE BAKES The daily average volume of Federal Reserve bank credit outstanding during the week ended December 9» as reported "by the Federal Reserve banks, was $2,1+7 S, 000,000, an increase of $13,000,000 compared with the preceding we el: and a decrease of $2,000,000 compared with the corresponding week in 1935® On December 9 total Reserve "bank credit amounted to $2,U$0,COO,OOO, an increase of $1,000,000 for the woek This increase corresponds with increases of # $31,000,000 in money in circulation, $35*000,000 in nonmember deposits and other Federal Reserve accounts and $2,000,000 in Treasury cash and deposits with Federal Reserve "banks offset in part "by increases of $13,000,000 in monetary gold stock and $3,000,000 in Treasury currency and a decrease of $HU,000,000 in member bank reserve balances. Member bank reserve balances on December 9 were estimated to be approximately $2,160,000,000 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 $32,000,000 in holdings of United States Treasury notes was offset by increases of $27,000,000 in United States Treasury bonisand $5,000,000 in United States Treasury bills. f Changes in the amxmnt of Reserve bank credit outstanding and in related items during the week and the year ended December 9* 193^ were as follows: Increase or decrease since Dec. 9 Dec. 2 Dec. 11 -12JL (in millions of dollars) Bills discounted 6 3 Bills bought -2 U.» S. Government securities 2.U30 Industrial advances (not including 21 million commitments - December 9) 25 -1 Other Reserve bank credit +2 TOTAL RESERVE BABK CREDIT 2,1+63 +1 -6 Monetary gold stock 11,206 +1S +1,133 Treasury currency 2,525 +3 +7S Money in circulation 6,^97 +31 +656 Member bank resei*ve balances 6,731 +691 Treasury cash and deposits with F.R.banks 2,1165 +2 iTonmember deposits and other F # R. accounts 507 +35 J-3 (B-SOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, December 11,1936; not earlier. B~S01a ASSETS A1ID LIABILITIES 0? THE T7JEL7E FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec. 9» 1936 Dec. 2, 1956 Dec, 11,1935 A S S E TS Gold certificates on hand and due from U* S. Treasury 8,809,324 8,811,021 7,520,349 Redemption fund ~ F. R« notes . « 11,986 11,407 17. Other cash . . . . . .. 247,464 246.357 235,^13 Total reserves 9,o6s,774 9,068,785 7,773,249 Bills discounted: Secured by U.S.Gov't obligations,direct or fully guaranteed . # 3,994 4,351 3,022 Other bills discounted 2,005 1,987 3,084 Total bills discounted . 5,999 6,338 6,106 Bills bought in open market • . . , 3, ogs 3,087 4,679 Industrial advances . . . . . . .. 25,493 25,696 32,790 U. So Government securities: Bonds « » • • • • • •< 402,326 381,326 215,116 Treasury notes • • • • « • • • •« 1,417,283 1,449,163 1,639,097 Treasury bills , So4,61s . 599,733 575,952 Total U, S« Government securities 2,430,227 2,430,227 2,430,171 Other securities 181 Total bills and securities . . . , 2,464,207 2,465,34s 2,473,927 Due from foreign banks < 220 221 64l F. R. notes of other banks . . * . , 26,074 23,823 19,477 Uncollected items . . , 522,369 651,945 554,980 Ban!:: premises . . . . .. • . . . « 43,07s 48,066 50,304 All other assets . . . . . . . . .. >+3,285 44,766 TOTAL ASSETS . . . 12,236,522 12,301,473 10,917,344 L I A B I L I T I ES F. R. notes in actual circulation 4,232,669 4,202,799 3,653,7^1 Deposits: Member bank: - reserve account 6,730,989 6,775,236 6,039,613 U.S.Treasurer - General account 93,081 109,628 24,031 Foreign bank . . . . . .. 65,19s 59,405 31,849 Other deposits . . . . .. 163,415 152,320 248,062 Total deposits . . . 7,052,6S3 7,096,589 6,343,555 Deferred availability items 578,938 650,064 555,360 Capital paid in 130,283 l-;0„275 130,4*40 Surplus (Section 7). . . .. 145,501 145,501 144,893 Surplus (Section 1 3 b ) . .. 27,088 23,457 Reserve for contingencies . 34-249 34,251' 30,701 All other liabilities . . . , 25,111. I4 9G6 35,197 s TOTAL LIABILITIES 12,236,522 12,301,473 10,917,344 Ratio of total reserves to deposit and F. R. note liabilities combined . . . < 80.4$ 80.3$ 11M • Commitments to make industrial advances 21,491 21,544 28,084 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OE THE EELERAL RESERVE BASKS C¥ mwimm1), 1336 (In thousands of dollars) B~80Xb A S S E T S Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn• Eans.Cy, Dallas San Eran. Gold certificates on hand and 2,809,324 527,395 3,325,357 429,139 646,457 302,631 247,452 1,711,274 264,666 123,573 256,392 172,060 622,322 due from U. 3. Treasury 11,986 1,512 1,725 122 617 344 2,327 511 1,606 681 709 217 1,51*9 Redemption fund - F.R. notes 247,464 21,930 68,067 26,765 15,1179 13,059 11,872 25,13^ 16,362 6,6og 13,967 7,429 20,792 Other cash Total reserves 9,068,77^ 610,843 3,395,209 516,026 662,553 316,03^ 261,657 1,737,519 282,634 190,856 271,06s 179,706 64-4,669 Bills discounted: Secured by U.S.Gov11 obligations, direct or fully guaranteed 3,99^ 93 3,216 292 85 12 75 — 101 3 115 2 Other "bills discounted 2,005 37 1,346 47 46 22 271 58 45 12 57 19 35 Total "bills discounted 5,999 130 4,562 339 131 3^ 346 58 i46 15 182 21 35 Bills "bought in open market 3, OSS 225 1,100 317 294 120 108 385 86 Si 87 87 218 Industrial advances 25,1*93 2,914 6,299 4,822 1,217 2,726 485 1,485 471 1,066 804 1,396 1,808 U. S. Government securities: Bonds 402,326 29,267 ios,4i4 35,H5 41,294 21,OSS 16,666 ' V7,706 19,458 15,240 21,146 16,909 36,023 Treasury notes 1,417,2S3 101,5S6 376,29s 121,sso 143,330 73,196 57,845 165,527 67,539 52,900 73,39s 58,690 125,034 Treasury bills 604,6lS 43,337 l60,531 51,995 61,145 31,226 24,677 70,640 28,812 22,567 31,311 25,03S 533339 Total U.S.Gov't securities 2,430,227 I7M90 645,243 20s,990 245,769 125,510 99,188 283,933 115,S09 90,707 125,855 100,637 214,396 Total "bills and securities 2,464,807 177,^59 657,204 214,468 247,411 12s,390 106,127 2S5, S61- 116,512 91,849 126,92s 102,l4i 216,457 Dae from foreign "banks 220 17 84 21 20 10 8 26 4 3 6 6 15 P. E. notes of other "banks 26,074 353 7,s6o 737 1,232 1,959 1,779 2,66l 1,55S 1,455 1,3^4 667 4,469 Uncollected items 522,369 57,733 143,706 43,545 56,40S 52,212 24,333 77,356 26,082 15,420 31,460 23,996 30,118 Bank premises US,07s 3,H3 I0,s64 5,079 6,525 2,919 2,284 4,833 2,453 1,5^4- 3,36s 1,526 3,580 All other assets 46,200 481 36,163 3,267 1,704 1,181 1,369 551 213 303 264 359 345 total assets 12,236,522 349,999 4,251,090 723,143 975,S53 502,705 391,557 2,108,807 429,456 301,420 434,438 30s,4oi 899,653 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AKD LIABILITIES OP THE FEDERAL RESERVE BA1ES OIT DECEMBER 9, 1936 (in thousands of dollars) B-SOXe L I A B I L I T I ES Total Boston ITew York Piiila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,232,669 370,153 0 rt 0 n O £ ,042 310,733 413,426 202,427 187,296 943,753 IS3,41J4 136,317 160,4i6 92,729 334,333 Deposits: Member "bank - reserve account 6,730,929 372, $20 2, 937,157 363.883 44l,s4s 213,SIS 155,323 1,013,207 197,333 131,250 227,202 167,043 434,647 U.S.Treasurer - General account 93,081 2,472 43,564 2,359 9,510 1,963 2,304 16,197 1,947 2,556 2,625 5,610 1,474 Foreign bank 65,198 4,330 °3,752 6,070 6,005 2,372 2,2S4 7,571 1,95s 1,566 1,393 1,293 4,504 Other deposits 163,415 2,351 96,330 1,649 i6,os4 4,173 7,310 i,n4s 7,192 4,131 196 3,259 17,342 Total deposits 7,052,683 332,773 3,100,253 394,461 473,447 227,226 167,721 1,032,223 208,420 140,111 231,916 177,305 508,467 Deferred availability items 57S,93S 57,S43 137,147 43,993 54,563 51,212 23,092 77,133 27,190 15,633 31,202 26,772 32,492 Capital paid in 130,223 9,333 50,2ol 12,224 12,569 4,712 4,259 12,207 3,770 2,946 3,960 3,822 10,164 Surplus (Section j) 145,501 9,902 50,225 13,406 14,371 5,136 5,616 21,350 4,655 3,149 3,613 3,7^3 9,645 Surplus (Section 13 b) 27,02s 2,274 7,744 4,231 1,007 3,442 754 1,391 546 1,003 1,142 1,252 1,696 Reserve for contingencies 34,2^9 1,513 3,249 3,000 3,110 1,309 2,557 7,573 39S 1,415 24s 1,322 1,S49 All other liabilities 35,m 9,369 l,o4o 5,360 579 256 1.577 4Z3 791,.,. jki 9IQ_ k57 TOTAL LIABILITIES 12,236,522 249,999 4,251,090 723,143 975,S53 502,705 391,557 2,103,207 429,456 301,420 434,438 308,401 899,653 Commitments to make industrial advances 21,491 2,162 2,244 247 1,343 2,353 294 47 1,157 72 341 492 4,139 MATURITY DISTRIBUTION OF 3ILLS AIID SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to bO days 6l to 90 days Over 6 months 6 months Bills discounted 5,999 4,562 495 262 l4S 520 Bills bought 3, OSS 1,950 545 152 435 Industrial advances 25,493 92S 647 522 205 20,S5S 1,733 U.S.Government securities 2,430,227 99,674 16,011 43,749 137,175 231,960 1,851,652 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE IIOTE STATEMENT Oil DECEIIBSR 9, 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 4,538,157 392,243 9S3.115 325,032 436,093 220,S35 210,871 920,l4l 191,644 140,402 172,0S9 103,179 332,513 Held by Federal Reserve bank 305,488 22,090 97,073 1^,2^9 22,667 12,408 23,575 31.3SS S.200 4,085 11,673 10,450 ^7,630 In actual circulation 4,232,669 370,153 8S6,042 310,783 4l3,42b 208,427 127 , 29 6 948,753 183,444 136,317 Ib0,4l6 9 2,729 334,883 Collateral held by agent as security for note® issued to bank: Gold certificates on hand and due from U. S. Treasury 4,1+92,338 39^,000 995.706<325,000 438,000 222,000 171,000 986,000 166,632 131,000 l6S,000 104,000 389,000 Eligible paper 4,290 93 3,249 293 85 12 288 — 102 3 158 7 U. S. Gov't securities 90,000 — — — — — 45,000 — 30,000 10,000 5,000 Total collateral 4,586,62s 396,093 992,955 325,293 438,085 222,012 216,28c 926,000 196,734 141,003 173.15s 104,007 339,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis