H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PEESS Released for publication Board of Governors Friday morning, Dec. IS; of the Federal Reserve System not earlier, December 17, 193& C0HDITI01T OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended December l6, as reported "by the Federal Reserve banks, was $2,^96,000,000, an increase of $18,000,000 compared with the preceding week and a decrease of $2,000,000 compared with the corresponding week in 1935• On December l6 total Reserve bank credit amounted to $2,433,000,000, an increase of $15*000,000 for the week. This increase corresponds with increases of $55,000,000 in money in circulation and $5^,000,000 in Treasury cash and deposits with Federal Reserve "banks, offset in part by increases of $16,000,000 in monetary gold stock and $7,000,000 in Treasury currency and decreases of $57,000,000 in member bank reserve balances and $15,000,000 in nonmember deposits and other Federal Reserve accounts* Member bank reserve balances on December 16 were estimated to be approximately $2,050,000,000 in excess of legal requirements. Relatively small changes were reported in the System*s holdings of bills discounted, purchased bills and industrial advances An increase of $82,000,000 in t holdings of United States bonds was offset by decreases of $70,000,000 in United States Treasury notes and $12,000,000 in United States Treasury bills* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December l6, 1936, were as follows: Increase, or decrease since Dec lb Dec. 9 Dec. IS # 1956 1935 (In millions of dollars) Bills disco-anted S +2 +1 Bills bought 3 -2 U. S. Government securities 2.U30 Industrial advances (not including 21 million commitments - December lo) 25 Other Reserve "bank credit 17 +13 +9 T0TA.1 RESERVE BAM CREDIT 2,^3 +15 Monetary gold stock +16 +1,12^ 11,222 Treasury currency 2,532 [+1 +7U Money in circulation 6,552 +650 Member "bank reserve balances -57 +1,237 Treasury cash, and deposits with F. R, banks +51+ 2,519 Nonmember deposits and other F. R. accounts U92 -15 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 18,1936; not earlier, B-SOla ASSETS MD LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMB IKED (in thousands of dollars) Dec, 16,1936 Dec, 9,1936 Dec. 18,1935 A S S E TS Gold certificates on hand and due 7,553,352 from U. S. Treasury * . . . S,353,624 g,S09,324 17,533 Redemption fund - E. R, notes 12,133 11,986 233,371 Other cash 232,753^ 2.47,^64 Total reserves 9,098,510 9,068,77*+ 7,S0M5O Bills discounted: Secured by U S.GrOV!t obligations,direct # or fully guaranteed . . . . . . .. 5,85b 3 >99^ 3,63*1 # Other bills discounted . 1,828 2>005. 3,286 Total bills discounted 7,6s4 5,999 6,920 Bills bought in open market 3,089 3,088 ^,671 Industrial advances ... 25,313 25,493 32,696 U. S. Government securities: Bonds . . . . . ^89,576 408,326 215,615 Treasury notes 1,31+7,163 l,4l7,2S3 1,6^1,602 Treasury bills 593,4gS 6o4,6lg 572,958 Total U.S. Government securities « 2,430,227 2,430,227 2,^30,175 Other securities — 181 Total bills and securities . . .. 2,466,313 2,464,807 Due from foreign banks 220 220 650 P. R. notes of other banks 26,646 2o*074 20,039 Uncollected items . . . .. . 895,842 522,369 657,595 Bank premises ... 48,082 48,07? 50,30s All other assets ^39 Ij-gg 46,200 38,290 TOTAL ASSETS 12,575,081 12,236,522 11,0^6,381 L I A B I L I T I ES F. R. notes in actual circulation . 4,268,972 4,232,669 # # 3,692,393 Deposits: Member bank - reserve account . . .. 6,674,157 6,730,989 5,436,39^ 172,826 U.S.Treasurer - General account . . .. 93*0S1 632,79^ 60,779 65,198 Foreign bank # . . # 32,716 Other deposits . • . • 165,803 l63,4l5 2^8,110 Total deposits 7,073,565 7,052,683 6,350,51^ Deferred availability items 879,317 578,938 650,308 Capital paid in 130,390 130,283 # # 130,^71 7) . . . . . . . . .. Surplus (Section 145,501 145,501 1^,893 Surplus (Sectioim 13 b) . . * . 27,088 27,088 23,^57 Reserve for contingencies . . . * . . 34,246 34,249 # 30,700 All other liabilities . . , 16*,002 35,111 17,6>J5 TOTAL LIABILITIES 12,575,081 12,236,522 11,01+6,381 Ratio of total reserves to deposit and I. R. note liabilities combined . . .. 80.2$ SO 77.7$ Commitments to make industrial advances 21,371 21,491 27,691 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A1TD LIABILITIES OF THE PEEEBAL RESERVE BANKS OH DECEMBER l6, 1936 (I11 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 3,853,624 51+5,780 3,1+71,72^ 1490,233 652,57s 291,125 2^,507 1,701,356 252,726 174,191+ 256,244 166,935 600,102 due from U, S. Treasury Redemption fund - F. R. notes 12,133 1,492 1,680 276 583 600 2,300 475 1,597 677 702 211 1,540 Other cash 232,753 IS,922 62,47s 25,105 I4,1S5 12,771 11,561 26,372 15,281 6,335 12,679 6,937 20,127 Total reserves 9,092,510 566,194 3,535,9^2 515,614 673,346 304,556 2 53,36s 1,728,203 269,604 181,206 269,625 174,083 621,769 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 5,856 i,7SS 33,,226611 442255 80 2 69 — 222266 3 — 2 Other bills discounted 1,S2S 37 1,173 46 46 22 262 53 45 12 74 18 35 Total bills discounted 7,6S4 1,S25 4,434 471 126 24 331 58 271 15 74 20 35 Bills bought in open market 3,089 225 1,100 317 294 121 10s 335 36 61 37 87 218 Industrial advances 25,313 D OOO 6,282 4,797 1,214 2,6S4 485 1,^33 466 1,031 795 1,360 1,323 9 U. S. Government securities: Bonds 489,576 35,091 129,9S5 42,101 49,512 25,285 19,932 57,199 23,329 13,272 25,355 2200,,227733 4433,,119922 Treasury notes 1,347,163 96,560 357,682 115,251 136,23s 69,57^ 54,933 157,395 64,193 50,233 69,765 55,737 118,847 60,019 Treasury bills 593,^2 42,539 157,576 5l,03S 30,651 24,223 69,339 23,232 22,152 30,735 24,577 52,357 Total U.S.Gov't securities 2,430,227 174,190 645,243 208,990 245,769 125,510 99»lS8 283,933 115,309 90,707 125,855 100,637 214,396 Total bills and securities 2,466,313 179,128 657,059 214,575 247,403 128,339 100,112 285,814 116,632 91,864 126,811 102,104 216,472 Due from foreign banks 220 17 84 21 20 10 8 26 4 3 6 6 15 P. R. notes of other banks 26,646 300 10,011 717 1,457 1,682 1,532 2,653 1,675 1,421 1,419 527 3,252 Uncollected items 895,842 82,632 255,210 65,639 86,013 70,862 28,210 128,408 32,221 20,543 40,290 34,344 51,470 Bank premises 48,082 3,H3 10,866 5,079 6,525 2,919 2,284 4,835 2,453 1,534 3,368 1,526 3,530 All other assets 39,468 488 29,707 2,769 1,77^ 1,215 1,391 569 207 296 301 357 39^ TOTAL ASSETS 12,575,081 831,872 4,498,879 8o4,4i4]pi6,53S 509,553 391,905 2,150,508 422,796 296,867 441,820 312,947 896,952 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AITD LIABILITIES OF THE FEDERAL RESERVE BAMS OH DECEMBER l6, 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. 299,426 31^,730 415,612 210,255 129,431 956,236 125,022 136,1+93 159,252 93,11s 334,4o4 F.R.notes in actual circulation 4,262,972 373,727 Deposits: Member "bank - reserve account 6,674,157 34l,4213 ,023,932 372,io4 1+52,319 203,63k 11+7,321 921,664 179,015 121,772 222,732 162,333 459,730 U.S.Treasurer - General account 172,326 4,079 77,196 U,257 13,9^0 5,24s 5,344 31,571 3,592 3,216 6,226 4,702 11,655 Foreign bank 60,779 4,435 22,723 5,574 5,514 2,637 2,097 6,952 1.792 1,432 1,732 1,732 4,135 Other deposits l65,S03 2,927 102,970 i,74O 12,742 4,361 6,096 2,393 7,636 4,573 722 3,161 l6,4l6 Total deposits 7,073,565 352,922 3,226,221 390,275 424,521 215,940 160,912 1,022,520 192,o4i 131,599 232,012 171,934 491,936 Deferred availability items 279,317 21,124 245,766 66,022 24,602 6G,432 22,097 126,716 35;442 19.469 40,121 36,733 46,721 Capital paid in 130,390 9,321 50,271 12,224 12,652 4,716 4,271 12,210 3,776 2,945 3,960 3,222 10,162 Surplus (Section 7) 145,501 9,902 50,225 13,406 14,371 5,126 5,616 21,350 4,655 3,149 3,613 3,723 9,645 Surplus (Section 13 b) 27,022 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 34,246 1,513 2,249 3,000 3,110 1,313 2,557 7,573 29s i,4os 242 1,322 1,249 All other liabilities 16,002 369 9,177 520 657 293 261 1,252 350 201 266 977 479 TOTAL LIABILITIES 12,575,021 231,272 4,492,279 2O4,4i4 1,01.6,532 509,523 391,905 2,150,502 422,796 296,267 441,220 312,947 296,952 Commitments to make industrial advances 21,371 2,103 2,293 252 1,223 2,346 294 47 1,135 72 333 492 4,121 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 7,624 6,297 230 246 564 347 Bills bought 3,029 1,944 524 326 235 Industrial advances 25,313 932 647 462 253 1,724 20,623 U.S.Government securities 2,430,227 29,281 3,240 50,255 64,129 225,154 1,997,502 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATELIEST Oil DECEMBER l6, 1936 (in thousands of dollars) B~S01d Total Boston Hew York Phila Cleve. Rich. Atlanta Chicago St .Louis Minn, Kans.Cy. Dallas San Eran. # Federal Reserve notes: Issued to F.R.bank by F.H.agent 4,576,604 395,^54 1,001,557 323,271 44l,760 222,332 210,343 9S5,^ 193,7^5 1*10,707 171,612 103,339 381,050 Held by Federal Reserve bank 307,632 21,727 102,131 13,5^1 26,l4S 12,577 21,4l2 23,59-3 S>657 4,2l4 11,760 10,221 46,646 In actual circulation 4,263,972 373,727 399,426 31^,730 415,612 210,255 139,431 95M3& 135,03 1 3 36,493 159,352 93,113 33k,kch Collateral held by agent as security for notes issued to "bank: Gold certificates on hand and due from U. S. Treasury 4,535,333 406,000 1,010,706 329,000 444,000 224,000 171,000 996,000 166,632 127,000 163,000 104,500 339,000 Eligible paper 6,143 1,733 3,239 ^25 GO 2 27b — 227 3 U9 6 U. S. Gov't securities 95,000 — — — — — ^5,000 — 30,000 15,000 5,000 1,013,995 329,^25 22U,002 216,27H 996,000 196,059 1^2,003 329,000 Total collateral 4,636,921 407,7SS W+,0G0 173,049 10k,306 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis