H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication Board of Governors Friday morning, Jan. 1; of the Federal Reserve System not earlier. December Jl 1936 9 C0EDITI01T OF FEDERAL RESERVE BANES The daily average volume of Federal Reserve bank credit outstanding during the week ended December 30, as reported by the Federal Reserve bants, was $2,518,000,000, ari increase of $11,000,000 compared with the preceding week and of $2^,000,000 compared with the corresponding week in 1935• On December 30 total Federal Reserve bank credit amounted to $2,UsU,000,000, a decrease of $5$,000,000 for the week. This decrease corresponds with a decrease of $130,000,000 in money in circulation and an increase of $22,000,000 in monetary gold stock, offset in part by increases of $65,000,000 in member bank reserve balances, $22,000,000 in nonmember deposits and other Federal Reserve accounts and $6,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on December 30 were estimated to be approximately $1,950,000,000 in excess of legal requirements* Relatively small changes were reported in the System1s holdings of bills discounted, purchased bills and industrial advances, A decrease of $6,000,000 in holdings of United States Treasury notes was offset by increases of $1,000,000 in holdings of United States bonds and $5,000,000 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 30, 1936» v/ere as follows: Increase or decrease since Dec. 30 Dec. 23 Dec. 31 1936 1936 1935 (in millions of dollars) Bills discounted 5 -4 Bills bought 3 -2 IJ. S. Government securities >,430 -1 Industrial advances (not including 21 million commitments - December 30) 25 -7 Other Heserve bank credit 21 -54 +s TOTAL BSSSRVE BAM CEEDIT 2,484 ~5S -2 Monetary gold stock 11,251,^3 tun +22 +1,126 +54 Treasury currency 2,530 -1 Money in circulation 6,550 -130 +66s Member "bank reserve "balances 6,572 +65 +9S5 Treasury cash and deposits with F, R. baiafcs 2,599 -511 Nonmember deposits and other F. R. accounts 544 +22 '+36 (B-SOl) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, January 1,1937; not earlier. B~801a ASSETS ASD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBIIHD (In thousands of dollars) Dec. 30,1936 Dec. 23,1936 Dec. 31,1935 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,851,878 8,551,876 7,553,357 Redemption fund - F. R. notes 12,74l 12,7^1 17,444 Other cash 247,67.2 199,574 264,550 Total reserves 9,112,291 9,064,191 7tS35f351 Bills discounted: Secured by U.S.Gk>v!t obligations,direct or fully guaranteed 4,521 7,029 l,54l Other bills discounted 856 1,853 3,131 Total bills discounted 5,377 8,832 672 Bills bought in open market . . . . . . 3,089 3,088 656 Industrial advances . 24,768 24,999 32,493 U.S. Government securities: Bonds . . . 490,643 ^89,576 216,176 Treasury notes 1,3^,963 1,347,163 1,641,597 Treasury bills . . . .. 598,621 593,488 572,958 Total U.S. Government securities . 2,430,227 2,430,227 2,430,731 Other securities — — 181 Total bills and securities . . .. 2,463,46l 2,467 196 2,472,733 r Dae from foreign "banks . 220 221 665 F R. notes of other banks 29,225 23,834 27,445 # Uncollected items 760,266 7^7,244 603,789 Bank premises 48,082 48,082 47,723 All other assets . . . .. Hi,253 Up,147 38,094 TOTAL ASSETS 12,^,798 12,390,915 11,025,800 L I A B I L I T I ES F. R. notes in actual circulation 4,278,786 4,350,488 3,709,074 Deposits: Member bank - reserve account . . .. 6,571,721 6,507/490 5,587,208 U.S.Treasurer - Oeneral account . . . 230,829 250,560 543,770 Foreign bank . 94,0l6 74,383 28,935 Other deposits 179,918 181 4-28 225,896 1 Total deposits 7,076,484 7,013,8bl 6,385,809 Deferred availability items * 739,938 672,619 591,556 Capital paid in I3O.C33 130,624 130,512 Surplus (Section 7) 1%^501 145,501 145,501 Surplus (Section 13 0) 27^088 27,088 24,235 Reserve for contingencies . 34,251 34,248 35,081 All other liabilities 21,917 l6,4s6 4,032 TOTAL LIABILITIES . . . . .. i ,454,798 12,390,915 11,025,800 2 Ratio of total reserves to deposit and F. R. note liabilities combined . 80.2$ 79»8$ 77.6$ # Commitments to make industrial advances 20,959 21,064 27,649 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BAllUS OH DECEMBER 30, 1936 (In thousands of dollars) B-SOLB A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,851,878 563,142 3,409,003 501,243 666,672 294,947 249,795 1,676,507 261,1+77 170,106 252,4g4 167,927 638,565 Redemption fund - P. R. notes 12,7^1 1,449 1,435 19^ 978 3^0 2,659 857 1,570 915 666 19S 1,480 Other cash 247,672 20,1195 6^,583 24,124 19,336 15,215 13,477 28,232 15,09s 7,411 12,988 6,358 20,355 Total reserves 9,112,291 525,086 3,475,021 525,56i 686,986 310,502 265,931 1,705,596 278,145 178/432 266,l4S 174,4S3 660,4oo Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed ^,521 695 2,410 360 50 1 3 1,002 Other "bills discounted 856 22 6o4 27 28 13 11 35 39 7 37 12 21 Total hills discounted 5,377 717 3»oi4 3S7 28 13 61 35 4o 10 37 1 ,0l4 21 Bills bought in open market 3,089 225 1,100 317 294 121 108 3S5 s6 61 87 27 213 Industrial advances 24,76s dr>j Orl<U~*cO* 6,026 4,706 1,214 2,654 4oo 1,435 424 1,070 794 1,334 1,223 U. S. Government securities: Bonds 490,543 35,167 130,269 42,194 49,618 25,3^0 20,025 57,324 23,3Sl 12,313 25,409 20,318 43,285 Treasury notes 1,340,963 96,116 356,035 ]L 15,317 135,612 69,254 54,731 156,670 63,901 50,0^1 69,445 55,530 118,301 Treasury "bills 593,621 42,907 152,939 51,479 50,539 30,916 24,432 69,939 22,527 22,3% 31,001 24,729 52,210 Total U.S.Gov't securities 2,430,227 17^,190 645,243 208,930 245,769 125,510 99,ISC 283,933 115,209 90,707 125,255 100,637 214,336 Total bills and securities 2,463,461 178,020 655,333 214,4oo 247,305 128,29s 99,757 285,788 116,359 91,848 126,773 103,072 216,45s Due from foreign banks 220 17 84 21 20 10 8 26 4 3 6 6 15 T F. R. notes of other banks 29,225 326 7,73^ 1,311 2,15s 2,408 3,262 3,532 1,848 1,535 1,445 1,034 2,582 Uncollected items 760,266 81,128 194,671 56,334 72,137 67,395 24,967 93,902 33,208 18,026 38,799 25,443 444777,,,666555666tttCCC Bank premises 4c,082 3,113 10,866 5,079 6,525 2,919 2,284 4,835 2,453 1,53^ 3.368 1,526 333,,,555SSS000ggg All other assets '41,253 453 31,250 3,196 1,669 1,207 1,358 576 250 283 313 336 333555777tttfff>>> MMM TOTAL ASSETS 12,454,738 S4S,I43 4,375,009 805,9023^22,800 512,739 397,567 2,094,255 432,867 291,711 436,857 305,900 931,048 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAIKS OH DECEMBER 30. 1936 (in thousands of dollars) B—801c L I A B I L I T I ES Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. ICans.Cj. Dallas . San Fran. P.R.notes in actual circulation 1+,278,786 362,908 915*529 312,756 1+20,1+97 206,321 188,827 . 96^,7^2 183,91U 135,393 lfe,326 92,01+2 333,031 Deposits: Member bank - reserve account 6,571,721 359,37^ 2,902,122 333,282 1&5,50U 209,U07 160,012 91+2,518 191,6HU 116,1+97 221,132 162,1+33 1+72,21+6 U.S.Treasurer - General account 230,829 9,278 10^,251 6,859 29,366 9,016 3,037 3^,H7 3,566 1+.992 tf,50U 6,372 15,^71 Foreign baailt 9^,016 6,961 3^,28^ 8,71+8 8,65!+ 1+,139 3,292 10,912 2,822 2,258 2,728 2,72s 6,1*90 Other deposits 179,913 3,075 95,171 1,556 12,573 ^,952 ^.169 1,673 7,171 ^,96^ 137 3,77^ ^,653 Total deposits 7,076,1^1+ 379,183 3,135,328 405,1145 ^96,097 227,51^ 170,510 939,220 205,203 123,711 223,551 175,357 53M60 Deferred availability items 739,933 81,336 191,223 53,730 63,935 2U.S06 95,323 3 3 , 1 7 , 3 12 36,095 27,399 39,351 Capital paid in 130,833 9.3SU 50,590 12,211 12,661+ H,717 1^,272 12,324 3,732 2,9^3 ' 3.962 3,325 10,159 Surplus (Section 7) 1^5,501 9,902 50,325 13,1+06 1^,371 5,136 5,616 21,350 U,655 3,1^9 3,613 3,783 9,&5 Surplus (Section 13 b) 27,038 2,371+ 7,7^ ^,231 1,007 3,41+S 75I+" 1,391 5U6 1,003 1,1^2 1,252 1,696 Reserve for contingencies 3^,251 1,513 3,3^9 3,000 3,110 I,319 2,556 7,573 393 1,1*08 Sl+3 1,323 l.S'49 All other liabilities 21,917 533 lU,J+21 1.073 639 299 226 1,327 1+11 792 3 20 91^ ^57 TOTAL LIABILITIES 12,1+51+,798 3l+3,ll+3 1+,375,009 305,902 1,022,800 512,739 397.567 2,09!+,255 1*32,867 291,711 ^36,357 305,900 931,01+3 Commitments to make industrial advances 20,959 2,050 ;,632 2l+7 1,230 2,333 290 25 1,125 71 333 ^39 M8i+ MATURITY DISTRIBUTION OF BILLS Al© SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days Si to 90 days Over 6 months 6 months Bills discounted 5,377 4,737 171 161 302 Bills bought 3,089 19I+ 63 250 2,532 Industrial advances 2l+, 7bS 1,167 260 669 669 1,676 20,327 U.S.Government securities 2,430,227 23,1+99 5M26 63,51+S 292,766 1,992,7^8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL EESE3VS 1J023 SE&TJMEITC Oil SECELBSR 30, 193& (in thousands of dollars) B-oOla Total Boston ITew York Fhila Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. # Federal Reserve notes* Issued to ?.m"barik by F.HUkgent 1+, 637,989 385,806 1,018,2.9*+ 331,151 452,1+90 22^,261 216,691 1,007,926 196,265 1^2,1^1 173.777 103,295 3B'5,S92 Held by Federal Reserve banL 353,203 22,898 102,765 IS,395 31,933 17,9^ 27,861+ ^3,1SU 12,351 6,2^? 11,^1 11,253 In actual circulation k,2J8JS6 362,908 915,529 312,75^ 1+20,1+97 206,321 188,827 5^,7^2 183,91^ 135,*93 162,326 92,0^2 333,031 t Collateral held by agent as security for notes issued to bank:: Gold certificates on hand and due from U. S. Treasury U,616,838 1+06,000 1,025,706 332,000 1+57,000 226,000 176,000 1,030,000 171,632 128,000 170,000 105,500 389,000 Eligible paper ^,636 695 2,50$ 360 — — 50 — 1 3 13 1,005 — U. S. Gov't" securities 95,000 — — — — -- 45,000 — 30,000 15,000 5,000 Total collateral U,716,471+1+06,695 1,028,215 332,360 1+57,000 226,000 221,050 1,030,000 201,633 11+3,003 175,013 106,505 389,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis