H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PEESS Released for publication Board of Governors Friday morning, Feb* 5; of the Federal Reserve System not earlier * February 1937* COHDITIOiT OF FEDERAL RESERVE BASKS The daily average volume of Federal Reserve banlz credit outstanding during the weak ended February 3> reported by the Federal Reserve banks, was $2,483,000,000, a decrease of $2,000,000 compared with the preceding weeli and of .$3s000,000 compared with the corresponding week in 193^. On February 3 total Reserve bank credit amounted to $2,463,000,000, a decrease of $9*000*000 the week. This decrease corresponds with decreases of $15,000,000 in member bank reserve balances and $27,000,000 in nonmeraber deposits and other Federal Reserve accounts and an increase of $19,000,000 in monetary gold stock, offset in part by increases of $30,000,000 in money in circulation and $22,000,000 in Treasury cash and deposits with Federal Reserve banks* Member bank: reserve balances on February 3 were estimated to be approximately $2,150,000,000 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 during the week and the year ended February 3* 1937» were as follows: Increase or decrease since Feb. 3 Jan. 27 Feb. 5 1937 , 1937- 1936 (In millions of dollars) Bills discounted 3 -7 Bills bought 3 -2 U. S. Government securities 22,,443300 Industrial advances (not including 20 million commitments - jebruary 3) 24 Other Reserve "bank credit 1+ -7 -S 20T£.L BTESKTOB mm CREDIT 2,463 -26 Kou.e rary w r M sj ck 11,364 +15 +I,l;j6 Treasury currency 2,531 +4C Money in circulation 6,3!-S +30 +606 lieraber baric reserve balances 6, -15 +SS9 Treasury cash and depy -ios with F. E. "banks 2,705 +22 Hcniuember deposits and other E. accounts 5^7 -27 '-32 (B-301) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 5, 1937; 110 ^ earlier. B-SOla ASSETS AED LIABILITIES OP THE TWELVE EEDEEA.L EE3EEVE BANKS COMBINED (In thousands of dollars) Jan, 27#1937 Feb. 5,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury S,SUg,309 3,3^9,91^ 7 66U237 # f Redemption fund F. R. notes . 12,7^6 12,729 16,259 Other cash # # . . • . 2S9,0IH ?07J71 - 339 ^00 Total reserves 9,150,176 9,170,^ 8,019,696 Bills discounted: Secured by U.S.Gov1t obligations,direct or fully guaranteed . . .. 2,359 2,3^ 6,789 Other bills discounted . 442 . 2,829 # # Total bills discounted . 2,801 2,857 9,61s Bills bought in open market * 3.081 4,671 Industrial advances <.*... 23,649 24,085 31,965 U. S, Government securities; Bonas • • • . « » « • » . •• 492,182 492,182 215,721 Treasury notes . 1,3^5,963 1,3^953 1,624.91s Treasury bills 592,082 59 2;-08 2 Total U*S<.Government securities 2,430,227 2,430,292 2,430.227 Other securities • • • • •• i 181 Total bills and securities 2,459,758 2,460,250 2,476,727 Due from foreign baulks . , 226 226 650 F. R* notes of other banks 24,497 25,018 19,054 Uncollected items . . . . « 584,725 574,286 470,533 Bah!.: premises . . . . . . 46,i4o 46,145 ^7,79S 0 All other assets . . . . , 40,369 4l s4i 39,605 T 12,305,891 12,318,180 11,074,113 L I A B I L I T I ES P. R. notes in actual circulation 4,153,067 4,140,492 3,640,094 Deposits: Member bank - reserve account • « 6,757,71^ 6,772,597 5,868,769 U*3*Treasurer - General accoxint 130,253 440,247 175,7^5 Foreign bank * . . 7^,947 66,99s 76,265 Other deposits 209,520 239,750 256,648 Total deposits 7,219,244 7,267,547 6,632,662 563,102 458,986 Deferred availability items . . . 581,348 132,1cI 130,6s4 Capital paid in . .. a 132,321 Surplus (Section 7) 145,854 145 $>35 I45,soi Surplus (Section 13 b) 27,190 27,190 26,1+06 # 34.050 Reserve for contingencies . . . . .. 36,235 36*235 All other liabilities . . . « . , , 5,632 &J22. # TOTAL LIABILITIES 12,305,891 12,318,ico 11,074,113 Ratio of total reserves to deposit and F. R # note liabilities combined • • • • 80,^5 80 e 4# 72.1$ Commitments to make industrial advances 19,999 20,238 26,6a Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OP THE FEDERAL HSSER7E BASICS ON FEBHJABT 3, 1937 (In thousands of dollars) B-SOlb A S S E TS Total Boston Hew York Phila* Cleve. Rich. Atlanta Chicago St Louis Minn. Sans.Cy. Dallas San Fran, # Gold certificates on hand and Re d d u e e m p f t r i o o m n U f . u S n . d T r - e F as . u R r . y n otes S 8 2^ 1 2 2, , 7 3 ^ 2 6 9 57 1 0 , .9 2 S 5 1 3 3,562 1, , 7 6 1 1 2 7 ^26,2 b 2 n 6 626,9 7 1 3 * 3 0 235, 5 9 7 7 3 3 22 2 S , , * e & m 2 1,6*13,0 5 6 63 0 25 1 7 , , 5 7 0 9 2 7 162, S 6 S 2 3 1 2^,3 6 6 1I 9 + 179,3 6 ^ 5 2 2 593 1 , , 6 3 9 9 9 1 Other cash 289* 0^+1 23,731 7M20 30,070 21,166 20,260 lU,iS3 32,162 15,712 SM^ 1^907 6,210 27,200 Total reserves 9,150,176 595*970 3,633,3^9 516,773 6^2,239 306,206 2i+5t275 it675»791 275,011 172,97s 259,290 126,204 622,290 Bills discounted: Secured by TJ. S.Gov' t obligai direct or fully guaranteed 2,359 50 1,1+01+ 1+S3 20 25 26 1+ 50 1I+2 155 Other bills discounted 1+1+2 7 262 60 9 1+ 3 11 15 2 27 25 17 Total bills discounted 2, SOI 57 1,666 5J+3 29 1+ 2C 11 i+l 6 77 167 172 Bills bought in open market 3,081 22*+ 1,093 319 293 120 10S 385 86 60 87 87 219 Industrial advances 23,61+9 2,769 5,390 it,503 1,161 2,557 369 1.13^ 359 i,oi+5 753 1,307 1,797 U.S •Government securities: Bonds 1+92,182 35,579 132,099 39, 50,67s 27,021 22,265 55,980 23,503 17,302 25,639 19,233 ^3,^35 Treasury notes 1,3H5,963 97,29s 361,251 107,875 138,586 73,891 60,890 153,087 6i+, 276 ^7,313 70,11s 52,596 11SJS2 Treasury bills 592,0S2 1+2,SOI 158,910 1+7,1*51+ 60,961+ 32,50^ 26,786 67,3^3 28,275 20,8ll+ 30,Si+i+ 23,137 52,250 Total U.S.GovH securities 2,^30,227 1?5>678 652,260 19^,777 250,22s 133,^16 109,9^1 276,1+10 116,051+ 85,1+29 126,601 9i+,966 2IU,I+67 Total bills and securities 2,1+59,758 178,728 660,909 200,11+2 251,711 136,097 110,1+1+6 277,9,40 116,51+0 S6,5l+0 127,523 96,527 216,655 Due from foreign banks 226 17 85 23 21 10 8 27 1+ 3 6 6 16 F. R. notes of other banks 2k^97 , 307 7,369 6ss 1,575 1,1+85 2,01+1+ 2,780 1,682 71+9 1,385 1+60 3,973 Uncollected items 5S^ t ,725 63,735 11+6,5+72 1+7,1+12 57,292 1+9,598 23,7^0 7^,91+9 2l+,)+01 13,269 29,939 20,391 32,977 Bank premises 3,057 10,13^ ^,952 6,372 2,S00 2,237 1+,710 2,390 1,^93 3,285 -l,2ol 3,1+49 All other assets 1+0,369 2,1+1+0 10,1+31+ 1+.9S1+ 2,610 1,659 3,800 2,122 1,360 1,889 1,535 2,982 TOTAL ASSETS 12,305,291 244,254 4,473,752 774,974 970,364 499f4o6 335*409 2,039,997 422*150 222,392 423,967'306,224 222,342 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS Aim LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 3, 1937 (in thousands of dollars) B-801c L I A B I L I TI Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Itans.Cy. Dallas San Fran. P.E.notes in actual circulation 4,153,067 351,^52 877,857 303,515 409,507 199,599 132,510 9^7,662 179,512 13^,309 159,C92 37,606 324,646 Deposits: 153,901 927,006 190,16s 114,577 217,235 16s, 106 1*64,235 Member bank - reserve account 6,757,71^ 381,125 3,116,507 36o,9SO 434,955 215,919 U.S.Treasurer - General account 175,7^5 16,440 44,073 13,166 19,85s 13,63^ 2,219 36,269 3,173 3,503 4,042 7,581 H,787 Foreign bank: 76,265 5,564 27,563 7.^69 7,012 3,277 2,663 S,S4l 2,237 1,753 2,210 2,210 5,411 Other deposits 209,520 2,353 136,511 2,067 14,187 4,436 5,679 1,452 10,056 4,992 211 5,6l4 21,957 Total deposits 7,219,244 405,437 3,324,654 391,682 476,012 237,266 169,467 973,563 205,684 124,325 223,698 503,390 Deferred availability items 531,348 63,40s 149,660 46,571 53,111 ^7,732 20,915 73,836 26,449 13,935 30,500 24,839 30,392 Capital paid in 132,321 9,363 51,^ 12,249 12,832 4,311 4,304 12,5^5 3,807 2,942 3,989 3,850 10,175 Surplus (Section 7) 145,354 9,326 51,474 13,362 1^,323 4,869 5,616. a,504 4,655 3,116 3,613 3,351 9,645 Surplus (Section 13 b) 27,190 2,374 7,7^ ^,325 1,007 3,^22 754 l,4l6 545 1,003 1,142 1,262 1,696 Eeserve for contingencies 36,235 1,570 9,260 3,000 3,120 1,522 1,690 7,971 1,197 2,090 931 1,847 2,037 All other liabilities 5,632 274 1,649 270 452 I85 153 1,495 301 172 202 113 361 12,305,891 344,254 4,473,752 774,974 970,364 499,406 3S5,409 2,039,997 te2,150 282,392 423,967 306,884 332,342 TOTAL LIABILITIES Commitments to make industrial advances 19,999 1,963 3,213 225 1,197 2,269 282 10 1,305 69 223 ^86 3,752 MATURITY DISTRIBUTI01T OF BILLS AlTD SECURITIES Within 16 to 31 to 6l to 91 days to 6 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 Bills discounted 2,301 2,651 32 5 78 31 Bills bo-ught 3,031 142 334 4i6 2,189 Industrial advances 23,649 , 955 364 991 465 1,700 3,901 5,764 9,509 U.S.Government securities 2,430,227 24,329 27,302 66,600 231,886 407,631 293,840 332,334 444,95s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FSDIPJLL RESERVE 1T0TE STATEMENT ON FEBRUARY 3, 1937 (in thousands of dollars) B-801d Total Boston New York Phi la. CI eve. Rich. Atlanta Chicago St .Louis Minn. Eans.Cy. Dallas San Fran. federal Reserve notes: Issued to F.R.bank by F.R.agent 4,475,246 380,552 97^32 325,02o 438,133 211,034 207,653 974,980 191,081 137,730 163,242 95,186 370,797 Held by Federal Reserve ooxk 317,179 29,100 96,975 21,311 28,625 11,435 25»l43 27,318 11,559 3,421 8,350 7,580 46,151 In actual circulation 4,158,067 351,'452 877,857 303,515 ^09,507 199,599 182,510 947,662 179,512 13^,309 159,892 87,606 324,646 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from II. S. Treasury it,^1,132 4o6,ooo 990,000 332,000 44o,ooo 212,000 168,000 990,000 171,632 128,000 167,000 97,500 389,000 Eligible paper 2,556 50 1,537 " J-1S3 20 — 25 — 38 4 73 l64 162 U. S. Gov't securities 87,000 45,000 22,000 15,000 5,000 Total colicteral 4,520,6ss 406,050 991,537 332,483 440,020 212,000 213,025 990,000 193,670 143,004 172,073 97,664 389,162 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis