H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FDR THE PRESS Released for publication Board of Governors Friday morning, Mar* 12} of the Federal Reserve System not earlier. March 11, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended March 10 member bank reserve balances increased by §89,000,000. Additions to'member bank reserves arose from increases of $41,000,000 in gold stock and $2,000,000 in Treasury currency arid decreases of $31,000,000" in money in circulation, 030,000,000 in Treasury deposits with Federal Reserve banks ?nd $41,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by an increase of #52,000,000 in Treasury cash and a decrease of $3,000,000 in Reserve bank credit. Excess reserves of member banks on March 10 were estimated bo be approximately $1,380,000,000, an increase of $70,000,000 during the week. Inactive gold included in the gold stock and in Treasury cash amounted to $253,000,000 on March 10, an increase of #41,000,000 for the weeko Changes in member bank reserve balances and related items during the week and the year ended March 10, 1937, were as follows! Increase or decrease since Mar. 10 Mar. 3 Mar. 11 1937 1937 1936 (In millions of dollars) Bills discounted 5 -2 —— Bills bought 3 -2 U. S. Government securities 22,,443300 —. — Industrial advances (not including 19 million commitments - March 10) 23 -7 Other Reserve bank credit -7 -1 -10 Total Reserve bank credit 2,4-54 -3 -19 Gold stock 11,484 +41 +1,314 Treasury currency- 2,537 +2 +34 Member bank reserve balances 6,749 +39 +963 Money in circulation 6,376 -31 +536 Treasury cash 2,672 +52 +154 Treasury deposits with F. R. banks 186 -30 -205 Nonmember deposits and other F. R. accounts 492 -4l -119 (B-S01) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 12,1937; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BA1JKS COMBINED (in thousands of dollars) Mar. 10,1937 Mar. 3,1937 Mar. 11,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . 8,846,407 8,847,402 7,667,830 Redemption fund - F. R. notes 11,198 11,449 15,253 Other cash 263,025 266,405 344,928 Total reserves . 9,120,630 9,125,256 8,028,011 Bills discountedi Secured by U.S.Gov't obligations,direct or fully guaranteed * 3,919 6,572 2,308 Other bills discounted 1,005 767 2,612 Total bills discounted . < . . . .. . 4,924 7,339 4,920 Bills bought in open market i 3,083 3,083 4,676 Industrial advances . . .. * 23,037 23,106 30,195 U. S. Government securitiest Bonds 533,682 533,682 215,726 Treasury notes 1,303,971 1,303,971 1,594,648 Treasury bills . . . . . .. 592,574 592,574 619,913 Total U.S. Government securities . . . 2,430,227 2,430,227 2,430,287 Other securities — 181 Total bills and securities 2,461,271 2,463,755 2,470,259 Dae from foreign banks 225 225 647 F. R. notes of other banks 22,043 2.2,180 18,334 Uncollected items 564,065 649,595 509,419 Bank premises . 46,015 46,020 47,865 All other assets 50,043 48,2-48 42,006 TOTAL ASSETS 12,264,292 12,355,279 11,116,541 L I A B I L I T I ES F. R. notes in actual circulation . . .. 4,169,467 4,195,436 3,731,534 Deposits I Member bank - reserve account 6,749,105 6,660,138 5,786,173 U.S.Treasurer - General account . . .. 186,381 216,471 391,113 Foreign bank 79,217 108,924 64,391 Other deposits 159,198 171,342 272+512 Total deposits 7,173,901 7,156,875 6,514,189 Deferred availability items 571,707 656,079 507,067 Capital paid in ... 132,276 132,281 130,638 Surplus (Section 7) 145,854 145,854 145,501 Surplue (Section 13 b) 27,-490 27,190 26,513 Reserve for contingencies 36,200 36,200 34,107 All other liabilities 7,3.97 5 364 26.992 f TOTAL LIABILITIES 12,264,292 12,355,279 11,116,541 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 80.4$ 80,4% 78,4% Commitments to make industrial advances . 19,496 19,537 25,709 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BANKS ON MARCH 10, 1937 (in thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mlrm, Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,846,407 555,757 3,362,253 515,868 654,388 295,382 255,068 1,685,226 259,645 17&,981 261,350 192,818 631,671 Redemption fund - F.R. notes 11,198 1,076 883 167 910 653 2,192 708 1,429 847 547 603 1,183 Other cash 263,025 20,534 68,569 28,052 17,739 ^0,0l4 11,428 30,275 15,236 8,301 15,027, 5,584 22,366 Total reserves 9,130,630 577,367 3,431,705 .544,087 673,037 316,049 268,688 1,716,209 276,310 186,029 276,924 199,005 655,220 Bills discounted I Secured by U.S.Gov't obligations, direct or fully guaranteed 3,919 121 2,4l4 663 270 — 75 8 9 37 300 7 15 Other bills discounted 1,005 25 536 20 18 9 201 23 18 5 32 78 40 Total bills discounted 4,924 146 2,950 683 288 9 276 31 27 42 332 85 55 Bills bought in open market 3,083 224 1,095 319 293 120 108 385 86 60 87 87 219 Industrial advances 23,037 2,786 5,805 4,305 1,125 2,531 350 1,051 347 810 732 1,266 1,929 U.S.Government securitiesJ Bonds 533,682 38,579 143,238 42,773 54,951 29,298 24,143 60,700 £5,486 18,760 27,802 20,854 47,098 Treasury notes 1,303,971 94,263 349,978 104,511 134,263 71,586 58,991 148,312 62,270 45,838 67,929 50,956 1:1 5,074 Treasury bills 592,574 42,836 159,044 47,493 6l,0l4 32,532 26,807 67,398 28,298 20,831 30,870 23,156 52,295 Total U.S.Gov't securities 2,430,227 1:7 5,678 652,260 1:9 4,777 250,228 133,416 109,941 276,410 116,054 85,429 126,601 94,966 214,467 Tqtal bills and seouritjea 2,461,271 178,834 662,110 200,084 251,934 136,076 110,675 277,877 116,514 86,341 127,752 96,4o4 216,670 Due ff rom fore±ig n i ba n i k s 2 oi 2 f 5 i 1 i 7n 8O5K 22 2 T 1 i 1 i 0 n 8 o 2 o 7 < 7 4 / 3 -5 6 t. 6 16it F. R. notes of other banks 22,043 334 4,736 770 1,185 1,691 2,890 2,598 1,713 2,007 487 2,910 Uncollected items 564,065 58,654 137,789 42,665 55,406 50,168 21,652 74,880 25,933 1M48 31,495 22,973 29,302 Bank premises 46,015 3,047 10,105 4,931 6,346 2,791 2,230 4,690 2,3S3 3,285 1,261 3,449 All other assets 50,043 3,059 13,093 6,779 5,403 3,099 2,012 4,743 2,028 2,296 1,884 3,792 TOTAL ASSETS 12,264,292 821,312 4,259,623 799,338 993,332 509,884 408,155 2,081,024 424,885 309,595 443,765 322,020 911,359 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE BANKS OK MARCH 10, 1937 (In thousands of dollars) B-801b L I A B I L I T I ES Total Boston 13ew York Phila. Cleve. Rich. Atlanta Chicago St.Louis ISLxm . Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,169,467 333,894 882,198 304,883 422,387 198,421 184,204 952,547 178,483 136,669 158,973 88,945 327,863 Deposits} Member bank - reserve account 6,749,105 376,231 2,961,693 386,289 437,872 232,519 175,426 951,849 193,309 119,037 236,921 177,849 500,110 VI,S.Treasurer - General account 136,381 19,118 30,269 21,049 25,796 7,101 5,831 45,127 6,626 3,949 3,290 10,768 7,457 Foreign bank 79,217 5,817 28,303 7,808 7,330 3,426 2,789 9,243 2,390 1,832 2,311 2,311 5,657 Other deposits 159,198 2,279 101,112 1,234 12,884 3,698 5,678 1,307 6,0.57 5,008 207 5,577 14,057 Total deposits 7,173,901 403,445 3,121,377 416,380 483,882 246,744 189,724 1,007,526 208,482 129,826 242,729 196,505 527,281 Deferred availability items 571,707 60,091 134,473 43,544 55,408 49,801 21,673 76,402 27,496 13,594 31,887 25,334 32,004 Capital paid in 132,276 9,372 51,351 12,239 12,836 4,837 4,328 12,577 3,799 2,905 3,991 3,865 10,176 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,869 5,-616 21,504 4,655 3,116 3,613 3,851 9,645 Surplus (Section 13 b) 27,490 2,874 7,744 4,325 1,007 3,422 754 l,4l6 545 1,003 1,142 1,262 1,996 Reserve for contingencies 36,200 1,570 9,260 3,000 3^120 1,522 1,690 7,943 1,197 2,083 931 1,847 2,037 All other liabilities 7,397 240 1,746 1,605 369 268 166 1,109 228 399 499 4ll 357 TOTAL LIABILITIES 12,264,292 821,312 4,259,623 799,338 993,332 509,884 408, 155 2,081,024 424,885 289,595 443,765 322,020 911,359 Coomitments to make industrial advances 19,496 1,949 8,074 207 1,216 2,358 275 10 1,287 ' 66 153 447 3,454 MATURITY DISTRIBUTION OF BILLS MD SECURITIES lithln 16 to 31 to 61 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 Years Bills discounted 4,924 4,240 149 310 65 151 9 Bills bought 3,083 1,934 263 886 Industrial advances 23,037 843 710 340 496 1,782 3,962 5,636 9,268 •U,S.Government securities 2,430,227 25,474 12,250 55,905 65,827 274,263 370,926 297,840 848,834 478,908 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MARCH 10, 1937 (in thousands of dollars) B-801b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas Son Fran. Federal Reserve notest Issued to F.R.bank by F.R.agent 4,4-74,025 359,731 978,702 322,194 445,022 210,196 206,l4l 978,659 188,936 141,181 170,932 97,620 374,711 Held by Federal Reserve bank 304,558 25,837 96,504 17,311 22,635 11,775 21,937 26,112 10,453 4,512 11,959 8,675 46,848 In actual circulation 4,169,467 333,894 882,198 304,883 422,387 198,421 184,204 952,547 178,483 136,669 158,973 88,945 327,863 Collateral held by agent as security for notes issued to bankI Sold certificates on hand and due from U. S. Treasury 4,518,132 406,000 990,000 332,000 448,000 211,000 180,000 990,000 171,632 135,000 167,000 98,500 389,000 Eligible paper 4,518 131 2,681 663 270 — 268 8 21 37 326 75 38 U. S. Gov't securities 65,000 — — — — 30,000 — 22,000 8,000 5,000 Total collateral 4,587,650 406,131 992,681 332,663 448,270 211,000 210,268 990,008 193,653 143,037 172,326 98,575 389,038 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis