H.4.1 Factors Affecting Reserve Balances of Depository Institutions

S T A m mW FOR THE PRESS Released for publication Board of Governors Priday morning, Dec* 25; 'of the Federal Reserve System not earlier* December 2*+, 1936 C01IDITI01T OF FEDERAL RESERVE BAKES The daily average volume of Federal Reserve bank credit outstanding during the week ended December 23» reported by the Federal Reserve banks, was $2,507,000,000, an increase of $11,000000 compared with the preceding week and a t decrease of $12,000,000 compared with the corresponding week in 1935* On December 23 total Reserve bank credit amounted to $2,5^2,000,000, an increase of $59,000,000 for the week* This increase corresponds with increases of $122,000,000 in money in circulation, $7^,000,000 in Treasury cash and deposits with Federal Reserve banks and $30,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $167,000,000 in member bank reserve balances and an increase of $7,000,000 in monetary gold stock* Member bank reserve balances on December 23 were estimated to be approximately $1,280,000,000 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 were as during the week and the year ended December 23* fellows: Increase or decrease since Dec. 23 Dec. iS Dec. 2^ J 3 J L. (in millions of dollars) Bills discounted 9 +1 +2 Bills bought 3 -2 U. S. Government securities 2,^30 -1 Industrial advances (not including 21 million commitments - December 23) 25 Other Reserve bajalr credit 75 +58 +27 TOTAL KESE3VE BAM CEEDI 2,5^2 +59 Monetary gold stock 11,229 +7 Treasury cvxrency 2,531 -1 +67 Money in circulation 6,SSO +12S +6sg Mgmber bank reserve balances 6,507 -167 •1,07s Treasury cash, and deposits with F.E.banks 2,593 +7^ -563 Honmember deposits and other F. E. accounts 522 +30 -3 (B-301) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 25,1936; not earlier, B-SOla ASSETS AUD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec, 25,1936 Dec. 16,1936 Dec. 24,1935 A S S E TS Gold certificates on hand and due from U, S. Treasury 8,851,876 8,853,624 7.553,849 Redemption fund - F. R, notes 12,7^1 12,133 17,5^3 Other cash 199,574 232,753 219,896 Total reserves 9,064,191 9,098,510 7.791.308 Bills discounted: Secured by U.S.Gov't obligations,direct or fully guaranteed . 7,029 5,856 3.782 Other bills discounted 1,853 1,828 3,373 Total bills discounted 8,882 7.684 7.155 Bills bought in open market 3,088 3.089 4,657 Industrial advances 24,999 25,313 32,600 U. S. Government securities: Bonds 489,576 489,576 216,172 Treasury notes 1,347,163 1,347,163 1,641,597 Treasury bills . . . .. 593,488 593,488 572.958 Total U.S. Government securities , . 2,430,227 2,430,227 2,430,727 Other securities , — 181 Total bills and securities 2,467,196 2,466,313 2,475,320 Due from foreign banks 221 220 665 F. R. notes of other banks . 23,834 26,646 22,010 Uncollected items . . . . .. 747,244 895,842 602,470 Bank promises 48,082 48,082 50,395 All other assets . . . .. 40,1U7 39.468 38,732 TOTAL ASSETS 12,390,915 12,575,081 10,980,900 L I A B I L I T I ES F. R. notes in actual circulation , . . 4,350,488 4,268,972 3,768,480 Deposits: Member bank .. reserve account . . . .. 6,507,490 6,674,157 5,429,284 U.S.Treasurer - General account . . .. 250,560 172,82b 6l4,255 Foreign bank 74,383 60,779 32,850 Other deposits 181,428 165,803 2^3.240 Total deposits 7,013,861 7,073,565 6,309,629 Deferred availability items 672,619 879,317 555,054 Capital paid in . .. , 130,624 130,390 130,469 Surplus (Section 7) . . , 145,501 145,501 144,893 Surplus (Section 13b) 27,088 27,088 23,707 Reserve for contingencies 34,24s 34,246 30,698 All other liabilities . . . . . . . .. l6,48b 16.002 17,970 TOTAL LIABILITIES 12,390,915 12,575,081 10,980,900 Ratio of total reserves to deposit and R. note liabilities combined . . . 79.8$ 80,2$ 77»3$ Commitments to make industrial advances 21,064 21,371 27,745 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MTD LIABILITIES OF THE FEDERAL RESERVI BAKES Oil DECEMBER 23, 1936 (in thousands of dollars) B-801b A S S E TS To tal Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. K ans.Cy. Dallas San Fran Gold certificates on hand and due from U. S. Treasury 3,351,376 553,720 3,^00,397 500,509 664,749 309,970 24-4-,679 1,6 71*,324- 263,671* 130,679 255,399 173,975 629,301 Redemption fund - F.R. notes 12,741 1,44-9 1,435 194- 973 340 2,659 357 1,570 915 bo 6 193 1,430 Other cash 139,57^ 15,223 55,903 19,352 13,437 11,905 10,102 21,300 12,529 5,615 10,991 5,962 16,705 Total reserves 3,064,191 570,392 3,^53,235 520,555 679,211* 322,215 257,^0 1,696,1*81 277,773 137,209 ;2 67,056 130,135 61*7,1*36 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 7,029 1,035 3,337 449933 30 — 93 10 1 33 — 1,902 4400 Other bills discounted 1,353 37 1,205 H6 1*6 22 25I* 53 45 12 75 IS 35 Total bills discounted 3,332 1,072 4,592 539 76 22 352 6s 46 4-5 75 1,920 75 Bills bought in open market 3,033 225 1,100 317 291* 121 103 335 36 60 37 37 213 Industrial advances 24-, 999 2,333 6,051 4,743 1,2l4 2,631* 1*35 1,1*35 1*59 1,071 795 1,346 1,323 U. S. Government securities: Bonds 439,576 35,091 129,935 1*2,101 1*9,512 25 j 23 5 19,932 57,199 23,329 13,272 25,355 20,273 4433,,119922 Treasury notes 1,347,163 96,560 357,632 115,351 136,23s 69,57^ 54-, 9 33 157,395 61*, 193 50,233 69,765 55,737 113,347 Treasury bills 593,4-33 42,539 157,57b 51,033 60,019 30,651 2^,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 20 o,99C 245,769 125.510 99,133 233,933 115,309 90,707 125,255 100,637 214,396 Total Mils and securities 2,^67,196 173,375 656,986 21^,59^ 2^7,353 12S,337 100,133 235,821 116,400 91,233 126,312 103,990 216,512 Due from foreign banks 221 17 35 21 20 10 3 26 4 3 6 6 15 F. R. notes of other hanks 23, 3^4 321 5,667 759 1,345 1,633 1,937 3,609 1,533 333 22,,119933 609 3,34; Uncollected items 7^7,244 71,572 135,370 60,751 65,140 57,593 27,375 109,293 35,020 19,640 3399,,11^^44 27,822 48,01 Bank premises 43,032 3,H3 10,366 5,079 6,525 2,919 2,234 4,335 2,453 1,534 3,363 1,526 3,530 All other assets 4O,I47 471 30,423 2,793 1,697 1,212 l,4o4 563 213 233 236 378 4i4 TOTAL ASSETS 12,390,915 324,261 4,343,132 304,552 1,001,294 513,924 390,531 2,100,633 1*33,4-01 301,440 1*33,365 314,466 919,366 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OF THE FEDERAL EE SERVE BAMS 01T DECEMBER 23, 1936 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phi la 01 eve Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San.Eran, # # F.R.notes in actual circulation U350,USS 366,729 92^19 319,GOO ^32,230 212,91^ 195/497 975,9^3 127,290 133,012 163,107 95,372 339,175 Deposits: f Member bank - reserve account 6,507,^90 3^9,910 2,S91,2l6 376,269 427,335 216,321 149,446 935,744 189,236 119,276 222,536 167*026 463,125 U.S.Treasurer - General account 250,560 9,125 115,237 I M 57 27,222 10,761 2,112 39,072 3,647 10,092 5,630 3,000 4,355 Foreign bank ?4, 323 5,203 24,527 7,293 1.21b 3,^50 2,745 9,097 2,353 1,322 2,274 2,274 5,4n Other deposits isi,Uas 95,725 2,329 12,336 4,235 5,196 1,347 7,564 4,447 214. 3,259 40,392 Total deposits 7,013,361 367,022 3,126,765 4oo,o4s 475,207 235,367 159,499 925,760 202,900 135,697 230,754 180,559 514,233 Deferred availability items 672,619 66,439 169,621 51,123 62,097 50,7H 22,137 94,52s 32,956 1188,,225533 35,123 27,450 42,056 Capital paid in 130,624 9,321 50,435 12,211 12,662 4,716 4,271 12,232 3,777 22,,994433 3,960 3,826 10,160 Surplus (Section 7) 145,501 9,902 5500,,332255 i3,4o6 14,371 5,126 5,616 21,350 4,655 3,149 3,613 3,723 9,645 Surplus (Section 13 "b) 27OSS 2,874 77,,774444 4,231 1,007 3,44s 754 1,391 546 1,003 1,142 1,252 1,696 Reserve for contingencies 34, } 24s 1,513 3,s4q 3,000 3,110 1,315 2,557 7,573 s$s 1,403 s4s 1,323 1,849 All other liabilities 16,436 4oi 9,474 673 610 267 250 i,so6 379 970 25s 39 6 502 TOTAL LIABILITIES 12,390,915 324,261 4,343,132 304,552 ipoi,294 513,924 390,521 2,100,633 433,401 301,440 435,365 314,45S 919,366 Commitments to make industrial advances 21,064 2,093 5,665 252 1,230 2,334 294 31 1,125 333 439 4,096 MATURITY DISTRIBUTION 0? BILLS AID SECURITIES Total •Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months Bills discounted 3,332 7,757 139 176 421 Bills bought 3,033 1*615 513 412 543 339 Industrial advances 24,999 1,212 270 565 734 20,431 U.S.Government securities 2,430,227 11,011 12,940 51,925 61,37^ 2q 1 9 , » 7 1 3 2 7 0 003,737 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FSDEEAL KESERVE 1T0TE STAT3MEITT Oil DECEMBER 23» 1936 (in thousands of dollars) B-soia Total Boston IT err York Phila* Cleve* Bicli* Atlanta Chicago St*Louis Mi nn Kans*Cy* Dallas San Fran* # federal Reserve notes: Issued to F.B.bank by J.H.a^ent 4,646,501 3S7»5^ i,017,4i4 332,352 456,oo4 225,454 217,030 1,009,495 19M72 i42,46o 17^,377 106,326 321,101 Held by Federal He serve bank 296,013 20,215 92,995 23,77^ 12,540 21>533 33,552 9,522 ^,44S ll 270 ll,0l4 41,926 y In actual circulation 4,350,423 366,729 924,4l9 319,200 432,230 212,91^ 195,^97 975*9^3 127,290 132,012 163,107 95,372 339,175 Collateral held "by agent as security for notes issued to "bank: Gold certificates on hand and due from U S» Treasury 4,616,33s 4o6,ooo 1,025,706 332,000 457,000 226,000 176,000 1,030,000 171,632 122,000 170,000 105,500 329,000 # Eligible paper 7,397 1,035 3*502 U92 30 — 295 10 2 33 ^6 1,906 4o XT- Gov*t securities 95,000 ~ — — ~ — 45,000 — 30,000 15,000 5,000 — — Total collateral '4,719,235 '407,035 1,029,214 332,492 457,030 226,000 221,295 1,030,010 201,63^ 143,033 175,046 107,^6 329,040 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis