H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE FRSSS Released for publication Board of Governors Friday morning, April 9; of the Federal Reserve System not earlier* April 8, 1937. GQSDITI01I OF FEDERAL RESERVE BANKS During the week ended April 7 member bank reserve balances increased $45*000,000* Additions to member bank reserves arose from increases of 4135,000,000 in fteserve bank credit and $18,000,000 "in gold stock and a decrease of ^36,000,000 in Treasury deposits with Federal Reserve banks, offset in part by Increases of ^22,000,000 in Treasury^asli, $11,000,000 in nonmember deposits and other Federal Reserve account s/^10,000,000 in money til circulation and a decrease of §3,000,000 in Treasury currency. Excess reserves of member banks on April 7 were estimated to be approximately v£L*440,000,000, an increase of $40,000 ,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $361,000,000 on April 7, an increase of $18,000,000 for the week. Principal changes in holdings of bills and securities were increases of $2.5,000,000* in United States bonds and #32,000,000 in United States Treasury bills, and decreases of $28,000,000 in United States Treasury notes and $4,000,000 in discounted bills. Changes in member bank reserve balances and related items during the week and the year ended April 7, 1937, were as follows? Increase or decrease since Apr. 7 Mar. 31 Apr. 8 1937 1937 1936 (in millions of dollars) Bills discounted 8 -4 +2 Bills bought 3 — -2 U. S. Government securities 22,,445599 +29 +29 Industrial advances (not including 19 nillion comnitrnents - April 7) 23 +1 ~7 Other Reserve bank credit * +10 -8 Total Reserve bank credit 2,493 +35 +14 Op Id stock 11,592 +18 +1,402 Treasury currency 2,539 -3 +34 Member bank reserve balances 6,684 +45 +1,523 Money in circulation 6,337 +1G •481 Treasury cash 2,774 Treasury deposits with F. R. banks 275 -36 -639 Nonnenber deposits and other F. R. accounts 505 +11 -99 *Less than 0500,000. (B—801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, April 9,1937; not earlier* B-8Gla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Apr. 7,1937 Mar. 31,1937 Apr. 8.1936 A S S E TS Gold certificates on hand and due fron U. S. Treasury . . . . .. 8,8-43,905 8,844,400 7,665,346 Redemption fund - F. R. notes , . 11,149 11,375 13,732 Other cash 273.758 285,028 336,358 Total reserves 9,128,812 9,140,803 8,015,436 Bills discounted? Secured by U.S.Gov't obligations, direct or fully guaranteed . 6,650 10,860 2,886 Other bills discounted . 1,500 1,147 2,616 Total bills discounted . 8,150 12,007 5,502 Bills bought in open market . . . . .. 3,436 3,347 4,688 Industrial advances . . . .. 22,566 22,338 30,257 U. S. Government securities! Bonds 662,084 636,890 265,691 Treasury notes . 1,190,343 1,218,843 1,554,894 Treasury bills 606.619 574.494 609,667 Total U.S. Government securities . . 2,459,046 2,430,227 2,430,252 Other securities 181 Total bills and securities 2,493,198 2,467,919 2,470,880 Due from foreign banks 227 227 634 F. R. notes of other banks 21,008 19,185 16,762 Uncollected itens , ... 600,029 622,090 501,570 Bank premises 45,870 45,880 48,004 All other assets ... 44.129 43,393 37,396 TOTAL ASSETS 12,333,273 12,339,497 11,090,682 L I A B I L I T I ES F. R. notes in actual circulation . . 4,178,661 4,174,231 3,781,039 Depositsi Member bank - reserve account 6,683,964 6,639,080 5,161,317 U.S.Treasurer - General account 274,867 310,950 964,390 Foreign bank 93,463 71,405 71,622 Other deposits . . . . .. 153,102 164,149 273,948 Total deposits . . . 7,205,396 7,185,584 6,47]., 277 Deferred availability items 600,749 631,997 494,186 Capital poi1 in 132,176 132,235 130,699 Surplus CSectLLcn 7) , . . . 145,854 145,354 145,501 Stilus (Sectxcn 13 b) . . 27,490 27490 26,513 Reserve for contingencies . 36,177 36,176 34,107 All otner liabilities . . . 6,770 5,930 7,360 TOTAL LIABILITIES . 12,333,273 12,339,497 11,090,682 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 80,2% 80.5% 73.2$ Commitments to make industrial advances 19,370 18,611 25,664 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JKD LIABILITIES OF THE FEDERAL RESERVE BAMS ON APRIL 7, 1937 (in thousands of dollars) B-801b A S S E TS Total Boston New York Phila* Cleve. Rich* Atlanta Chicago St.Louis Miim, Rans.Cjv Dallas San Fran. Gold certificates on hand and due from U. S. Treasury- 8,843,905 512,873 3,426,726 558,565 652,4522 92,717 257,110 1,615,405 259,813 188,006 364,854 175,536 639,848 Redemption fund - F. R. notes 11,149 976 1,399 489 753 666 2,010 516 1,375 767 512 '562 1,124 Other cash 273,758 28,166 76,080 27,722 17,636 20,217 11^.29 30,790 12,009 5*532 15,257 6,130 23,090 Total reserves 9,128,812 542,015 3,504,205 586,776 670,841 313,600 270,249 1,646,711 273,197 194,305 280,623 182,228 664,062 Bills discountedt Secured by U^S.Govft obligate3 ns, direct or fully guaranteed 6,650 879 4,203 999 65 120 75 — 100 — 150 39 20 Other bills discounted 1,500 174 886 60 18 9 7 35 45 5 40 157 64 Total bills discounted 8,150 1,053 5,089 1,059 83 129 82 35 145 5 190 196 84 Bills bought in open market 3,436 224 1,415 319 293 120 108 385 86 60 87 87 252 Industrial advances 22,566 >,286 5,446 4,232 1,055 2,199 331 1,008 339 796 714 1,247 1,913 U. S. Government securities 1 Bonds 662,084 48,287 188,195 55,758 64,460 35,168 29,287 73,239 29,466 21,727 32,878 26,033 57,586 Treasury notes 1,190,343 86,813 338,352 100,246 115,890 63,227 52,655 131,676 52,975 39,064 59,111 46,802 103,532 Treasury bills 606,619 44,241 172,430 51,087 59,060 32,222 26,833 67,104 26,997 19,907 30,124 2.3,852 52,762 Total U«S#Govtt securities 2,459,046 179,341 698,977 207,091 239,410 1,30,6171 08,775 272,019 109,438 80,698 122,113 96,687 213,880 Total bills and securities 2,493,193 183,904 710,927 212,701 240,84l 133,065 109,296 273,447 110,008 81,559 123,104 93,217 216,129 Due from foreign banks 227 17 86 23 21 10 8 27 4 3 6 6 16 F # R. notes of other banks 21,008 331 4,195 812 1,469 1,802 2,152 2,673 2,403 1,4*9 1,004 645 2,103 Uncollected items 600,029 59,523 156,186 43,868 52,470 51,461 23,520 80,732 .26,563 15,622 31,742 23,487 34,855 Bank premises 45,370 3,043 10,088 4,920 6,333 2,782 2,226 4,680 2,377 1,500 3,243 1,255 3,423 All other assets 44,129 2,703 12,396 5,476 4,726 2,737 1,801 4,051 1,689 1,590 1,923 1,746 3,301 TOTAL ASSETS 12,333,273 791,536 4,398,083 854,576 976,701 505,457 409,252 2,012,321 4l6,24l 295,983 441,645 307,584 923,889 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BARKS ON APRIL 7, 1937 (in thousands of dollars) B-801b L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. F. R.notes in actual circulation 4,178,661 319,313 893,116 306,755 420,933 197,103 185,971 958,424 179,693 139,070 160,354 89,586 328,343 Deposits: Member bank — reserve account 6,683,964 360,346 2,974,554 432,922 432,018 218,550 170,685 886,216 185,030 122,241 232,288 165,887 503,227 U.S.Treasurer- General account 274,367 19,104 138,931 10,982 16,988 17,642 10,527 30,638 3,620 3,325 3,570 6,868 12,672 Foreign bank 93,463 6,846 33,534 9,191 8,628 4,033 3,282 10,879 2,814 2,157 2,720 2,720 6,659 Other deposits 153,102 2,106 82,654 17,143 13,450 2,715 3,080 1,440 6,267 4,439 761 5,4Q4 13,643 Total deposits 7,305,396 388,402 3,229,673 470,238 471,084 242,940 187,574 929,173 197,731 132,162. 239,339 180,879 536,201 Deferred availability items 600,749 59,799 153,466 44,161 52,914 50,427 23,075 80,049 28,329 15,343 32,015 26,001 35,170 Capital paid in 132,176 9,380 51,260 12,239 12,846 4,858 4,326 12,587 3,812 2,897 3,993 3,866 10,112 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,869 5,616 21,504 4,6 55 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 1,416 545 1,003 1,142 1,262 1,996 Reserve for contingencies 36,177 1,570 9,260 3,000 3,121 1,522 1,690 7,916 1,197 2,076 941 1,847 2,037 All other liabilities 6,770 372 2,090 496 473 316 246 1,252 279 321 24e 385 TOTAL LIABILITIES 12,333,273 791,536 4,398,083 854,576 976,701 505,457 409,252 2,012,321 4l6,24l 295,988 441,645 307,584 923,889 Commitments to make industrial advances 19,370 2,431 7,878 174 1,182 2,275 364 10 1,004 67 139 444 3,402 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 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 8,150 7,487 248 48 293 61 13 Bills bought 3,436 82 385 4l4 2,555 Industrial advances 22,566 983 204 445 695 2,210 3,714 5,511 8,804 U.S.Government securities 2,459,046 5,000 22,277 61,827 84,365 364,462 351,566 254,971 706,068 608,510 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK APRIL 7, 1937 (in thousands of dollars) B-801b Total Boston Uew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes Issued to F.R.bank by F.R.agent 4,478,480 346,317 998,511 320,588 445,222 207,704 205,590 983,509 188,366 143,177 171,636 97,378 370,482 Held by Federal Reserve bank 299,819 27,004 105,395 13,833 24,289 10,601 19,619 25,085 8,673 4,107 11,282 7.792 42.139 In actual circulation 4,178,661 319,313 893,116 306,755 420,933 197,103 185,971 958,424 179,693 139,070 160,354 89,586 328,343 Collateral held by agent as security for notes issued to bankt Gold certificates on hand and due from U. S. Treasury 4,508,132 371,000 1,000,000 332,000 448,000 209,000 180,000 990,000 174,632 144,000 172,000 98,500 389,000 Eligible paper 7,912 1,039 5,004 1,005 65 120 75 12 127 — 184 185 96 U. S. Gov't securities 45,000 — — — 30,000 — 15,000 — — — — Total collateral 4,561,044 372,0391,005,004 333,005 443,065 209,120 210,075 990,012 189,759 144,000 172,184 98,685 389,096 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis