H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEOTT FOR THE PRESS Released for publication Board of Sovernors Friday morning, Jan. 8; of the Federal Reserve System not earlier. January 7, 1937. COimiTIOlI 0? FEDERAL RESERVE BAHKS The daily average volume of Federal Reserve bank credit outstanding during the week ended January as reported "by the Federal Reserve banks, v/as $2,^-81,000,000, a decrease of $37,000,000 compared with the preceding week and an increase of $1,000,000 compared with the corresponding week in 193&# On January 6 total Reserve "baric credit amounted to $2,USU,000,000, a decrease of $20,000,000 for the week This decrease corresponds with decreases of t $77,000,000 in money in circulation and $5,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $20,000,000 in monetary gold stock, offset in part by increases of $5:3,000,000 in member bank reserve balances and $22,000,000 in Treasury cash and deposits with Federal Reserve banks, Uember bank reserve balances on January 6 were estimated to be approximately $2,010,000,000 in excess of legal requirements* 1 Relatively small changes were reported in the Systems 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 v/ during the week and the year ended January 6, 19371 ere as follows: Increase or decrease since Jan« fc5 Dec. 30 Jan S # i?37 1336 1936 (In millions of dollar B) Bills discounted 3 -2 -2 Bills bought 3 — -2 U. S. Government securities 2/430 — Industrial advances (not including 21 million commitments - January 6) -1 -8 Other Reserve bank credit k -17 +1 TOTAL RESERVE BAM CREDIT -20 «i2 Monetary gold stock 11,271 +20 +1,127 Treasury currency 2,531 +1 +55 Money in circulation 6,1+73 -77 +690 Llember bank reserve balances 5,627 Treasury cash and deposits with F # R 9 banks 2,627 +as ~h22 llonmember deposits and other F R, accounts 539 -5 +21 # (3-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

n ot Released for publication Friday morning, January 3,1937; earlier. B-SOla ASSETS AITD LIABILITIES OF THE TWELVE FEDERAL RESERVE BA1TKS COMBINED (in thousands of dollars) Jan. 6,1937 Dec. 30,1936 Jan. 8,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,851,383 8,851,878 7,552,873 Redemption fund - F. R. notes 12,533 12,741 17,170 Other cash 278,370 247,672 303,647 Total reserves . .. 9,142,286 9,112,291 7,873,690 Bills discounted: Secured "by U.S.Gov't obligations,direct or fully guaranteed 2,191 4,521 2,358 Other bills discounted 850 856 3,023 Total bills discounted . . . . . .. 3,02+1 5,377 5.381 Bills bought in open market 3,089 3,089 4,656 Industrial advances 24,328 24,768 32,014 U. S. Government securities: Bonds 490,543 490,643 215,678 Treasury notes 1,340,963 1,31+0,963 l,64l,603 Treasury bills 598,621 598,621 572,958 Total U.S. Government securities . . 2,430,227 2,430,227 2,430,239 Other securities — — 181 Total bills and securities 2,460,685 2,463,461 2,472,471 Due from foreign banks 220 220 665 F. R. notes of other banks 34,381 29,225 30,508 Uncollected items 660,987 760,266 499,777 Bank premises 46,l46 48,082 47,740 All other assets 37,727 4l,253 38,082 TOTAL ASSETS 12,382,432 12,454,798' 10,962,933 L I A B I L I T I ES F. R. notes in actual circulation 4,242,336 4,278,786 3,655,764 Deposits: Member bank - reserve account 6,627,004 6,571,721 5,745,146 U.S.Treasurer - General account 232,287 230,829 460,828 Foreign bank 95,601 94,016 34,881 Other deposits 182,021 179,918 229,765 Total deposits 7,136,913 7,076,4s4 6,470,620 Deferred availability items 6 5 7 ^2 739,938 497,233 Capital paid in 131^704 130,833 130,516 Surplus (Section 7) 145,854 145,501 145,501 Surplus (Section 13b) 27,190 27,088 26,334 Reserve for contingencies 36,24-8 3^,251 33,906 All other liabilities 4*7I+5 21,917 3,059 TOTAL LIABILITIES 12,382,432 12,454,798 10,962,933 Ratio of total reserves to deposit and F.R. note liabilities combined 80.3$ 80.2$ 77.8$ Commitments to make industrial advances . . 21,040 20,959 27,284 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF HHB FEDERAL RESERVE BASES Oil JA2TOARY 6, I937 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta l 3hi cago S t.Loui s Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U.S. Treasury 8,351,383 570,168 3,469,037 529,021 643,320 283,830 227,470 1 ,659,716 251,882 171,781 246,582 180,789 617,681 Redemption fund - F.R. notes 12,533 1,418 1,303 132 931 533 2,629 802 1,560 909 S^C 190 1,468 Other cash 278,370 22,671 70,319 26,366 21,943 19,228 15,407 32,703 17,779 8,322 13,977 5,731 22,924 Total reserves 9,142,286 594,257 3,540,709 555,519 666,194 303,641 245,506 1 ,593 , 221 271,221 131,012 261,223 187,710 642,073 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 2,191 666622 1,010 295 — 160 20 1 3 — 44oo Other bills discounted S50 22 567 27 28 13 45 35 46 7 30 9 21 Total bills discounted 3,o4i 684 1,577 322 23 173 65 35 47 10 30 9 61 Bills bought in open market 3,089 225 1,100 317 294 121 108 385 86 Si 87 87 218 Industrial advances 24,323 2,773 5,917 4,624 1,184 22,,660022 395 1,429 423 1,055 779 1,319 1,828 U. S, Government securities: Bonds 490,643 35,468 131,636 39,324 50,519 26,936 22,196 55,805 23,430 17,247 25,560 19,173 43,299 Treasury notes 1,340,963 96,936 359,907 107,475 138,071 73,617 60,664 152,519 64,037 47,138 59,857 52,401 113,341 Treasury bills 593,621 43,274 160,667 47,972 51,637 32,864 27,081 68,08b 23,587 21,043 31,184 23,392 52,828 Total U.S.Gov't securities 2,430,227 175,673 652,260 194,777 250,227 133,417 109,941 276,410 116,054 85,428 126,601 94,966 214,468 Due from foreign banks 220 17 84 21 20 10 8 26 4 3 6 6 15 F. R. notes of other banks 34,381 315 10,433 1,083 2,113 3,543 3,039 4,085 2,735 1,253 2,154 624 2,954 Uncollected items 660,937 70,973 174,802 55,4oi 62,809 57,549 25,1% 73,363 29,450 13,904 35,672 25,228 31,691 Bank premises 46,l4S 3,057 10,134 4,952 6,368 2,810 2,237 4,710 2,390 1,493 3,2S5 l,26l 3,^9 All other assets 37,727 2,280 9,878 4,367 4,34s 2,447 1,561 3,564 1,570 1,270 1,759 1,420 2,763 TOTAL ASSETS 12,332,432 350,259 4,406,394 821,883 993,585 506,313 388,005 2,062,228 424,030 285,489 431,596 312,630 399,520 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAHKS Oil JA1TUARY 6, 1937 (In thousands of dollars) B-SOle L I A B I L I TI Total Boston Hew Yorl: Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San. Fran. F.R.notes in actual circulation 4, 242,336 358,059 903,645 308,051 4l6,332 205,44l 186,883 959,177 1S2.17U 135,737 161,685 91,497. 333,655 Deposits: Member bank - reserve account 6,627,004 37^,449 2,952,95^ 403,043 433,671 220,025 153,081 929,096 184,796 114,866 217,201 1&3.S32 479,990 U.S.Treasurer - General account 232,287 11,9'SO 116,35!+ 7,439 28,019 .357 3,697 33,308 4,084 5,105 4,049 7,708 7,177 Foreign bank 95,601 7,087 34,783 8,907 8,811 i ,2l4 3,352 11,110 2,273 2,299 2,77S 2,77S 6,609 Other deposits 182,021 3,530 114,818 1,918 13,048 M l5 1*263 8,289 __2i2Z! 180 9 >312 16,805 Total deposits 7,136,913 397,046 3,218,909 421,307 483,549 231,171 l64,i45 97^,777 200,042 127,54s 224,208 183,630 510,581 Deferred availability items 657,442 71,275 163,17s 59,315 62,115 54,955 2^,510 83,861 3i,4o4 12,894 35,806 26,606 31,523 Capital paid in 131,70*1 9,387 51,169 12,211 12,7^1 4,718 4,277 12,514 3,783 2,943 3,977 3,S25 10,159 Surplus (Section 7) 1^5,35^ 9,826 51,474 13,362 4,869 5,6l6 21,504 4,6^5 3,116 3,613 3,851 9,645 1^,323 Surplus (Section 13 b) 27,190 2,874 7,7^ 4,325 3,422 754 i,4i6 54 1,003 1,142 1,262 1,696 1,007 Reserve for contingencies 36,24-8 1,570 9,260 3,000 1,522 1,690 7,999 1,19' 2,097 931 1,828 2,037 3,120 All other liabilities 4,745 222 1,515 312 215 130 980 233 15L 234 12L 224 398 TOTAL LIABILITIES 12,382,432 850,259 4,4o6,S94 821,883 993,5S5 506,313 388,005 2,062,228 424,030 285,489 431,596 312,630 899,520 Commitments to make industrial advance s 21,040 2,002 8,850 225 1,221 2,302 288 10 1,30s 71 314 489 3,960 MATURITY DISTRIBUTIOI! OF BILLS A1ID SECURITIES Within 16 to 31 to 61 to 91 days to d months 1 Year 2 Years Over Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years to 5 Years 5 Years Bills discounted 3.041 2,615 IS 143 251 12 2 Bills bought 3,089 527 315 233 2,014 Industrial advances 24,328 925 409 544 1,100 1,229 4,280 5,883 9,958 U.S.Government securities 2,430,227 12,940 23,809 58,015 79,000 260,475 349,429 375,306 827,784 443,469 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL 2ESEBVE KOTE STATELSITT Oil JAITUA3Y 5, 1937, (In thousands of dollars) B-COld Total 3oston Hew York Phila. Cleve. Hicli. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Eeserve notes: Issued to F.H.bank by F.H.agent 4,609,640 32^,333 1,017,226 328,432 ^7,55^ 22kklS 21^,^00 1,002,783 19^,015 l^l.jSs 171,192 101,093 382,765 1 t L Held "by Federal He serve bank 367,30U 2'S,27+ 113,541 20,3Sl 31,222 12,978 27,517 K5,60b 11,S'41 5,625 9,513 9,596 1+9,110 in actual circulation U,2^2,33° 358,059 903,645 302,051 ^16,332 205,441 126,283 959,177 182,17^ 135,737 161,625 91,^97 333,655 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury k,522,232 406,000 1,025,706 332,000 452,000 219,000 176,000 1,010,000 171,632 128,000 170,000 103,500 389,000 Eligible paper 2,331 662 1,123 295 — l60 20 S3 20 -- ^0 U. S. Gov't securities 101,000 — — — — 6,000 1+5,000 — 30,000 15,000 5,000 Total collateral 4,526,159 406,652 1,026,829 332,295 452,000 225,l60 221,020 1,010,000 201,640 1^3,003 175,020 103,500 329,040 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis