H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, April 16j of the Federal Reserve System not earlier. April 15, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended April 14 member bank reserve balances increased $217,000,000. Additions to member bank reserves arose from increases of $105,000,000 in gold stock, 035,000,000 in Reserve bank credit,, and $2,000,000 in Treasury currency, and decreases of ^163,000,000 in Treasury deposits with Federal Reserve banks, $4,000,000 in money in circulation, and $11,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by an increase of $102,000,000 in Treasury cash. Excess reserves of member banks on April l4 were estimated to be approximately #1,630,000,000, an increase of $190,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $465,000,000 on April 14, an increase of 0104,000,000 for the week. Principal changes in holdings of bills and securities were increases of $28,000,000 in United States bonds, and'^3,000,000 in discounted bills. Changes in member bank reserve balances and related items during the week and the year ended April l4, 1937, were as follows 8 Increase or decrease since Apr. 14 Apr. 7 Apr. 15 1937 1937 1936 (in millions of dollars) Bills discoynted 11 +3 +5 Bills bought 4 +1 -1 U. S. Government securities 22,,448877 +28 +57 Industrial advances (not including 19 million commitments - April l4) 23 — -7 Other Reserve bank credit 4 +4 -1 Total Reserve bank credit 2,528 +35 +51 Gold stock 11,697 +105 +1,497 Treasury currency 2,541 +2 +39 Member bank reserve balances 6,901 +217 4-1,568 Money in circulation 6,383 -4 +506 Treasury cash 2,876 +102 +332 Treasury deposits with F. R. banks 112 -163 -718 Nonmember deposits and other F. R. accounts 494 -11 -101 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, April 16,1937; not earlier. B~801a ASSETS AND LIABILITIES OF THE THiSLVE FEDERAL RESERVE BAKKS COMBINED (in thousands of dollars) Apr. 1-4,1937 Apr. 7, 1937 Apr. 15,193 A S S E TS Qold certificates on hand and due from U. S. Treasury 8,843,894 8,843,905 7,664,835 Redemption fund - F. R. notes 10,656 11,149 13,736 Other cash 279,673 273,758 341,744 Total reserves . . . .. 9,134,223 9,128,812 8,020,315 Bills discounted» Secured by U.S.Gov't obligations,direct or fully guaranteed 9,789 6,650 3,713 Other bills discounted 1,259 1,500 2,480 Total bills discounted 11,048 8,150 6,193 Bills bought in open market 3,522 3,436 4,690 Industrial advances 22,544 22,566 30,313 U. S. Government securitiess Bonds 689,621 662,084 265,687 Treasury notes 1,190,343 1,190,343 1,554,895 Treasury bills 606,619 606,619 609,667 Total U.S.Government securities . . 2,486,583 2,459,046 2,430,24? Other securities — — 181 Total bills and securities 2,523,697 2,493,198 2,471,626 Due from foreign banks 230 227 633 F. R. notes of other banks 20,621 21,008 22,125 Uncollected items ... 780,351 600,029 696,196 Bank premises 45,872 45,870 48,006 All other assets 45,631 44,129 36,286 TOTAL ASSETS 12,550,625 12,333,273 11,295,187 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,176,094 4,178,661 3,761,762 Deposits » Member bank - reserve account 6,900,752 6,683,964 5,333,048 U.S.Treasurer - General account .... 111,674 274,867 829,731 Foreign bank 93,622 93,463 53,826 Other deposits 142,271 153,102 280,758 Total deposits 7,248,319 7,205,396 6,497,363 Deferred availability items 776,110 600,749 691,750 Capital paid in 132,168 132,176 130,707 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 36,177 36,177 34,102 All other liabilities 8,413 6,770 , 7,489 TOTAL LIABILITIES 12,550,625 12,333,273 11,295,187 Ratio of total reserves to deposit and F. R. note liabilities combined * . . . 80,0% 80.2$ 78,2% Commitments to make industrial advances 19,211 19,370 25,670 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BALJKS ON APRIL l4, 1937 (in thousands of dollars) B-801b A S S E TS Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Fran. Gold certificates on h nd and a due from U. S, Treasury 8,843,094 482,857 3,425,053 542,295 657,489 276,120 252,104 1,672,584 264,291 180,845 262,175 173,869 654,212 Redemption fund - F.R, notes 10,656 966 1,243 463 688 66l 1,964 434 1,369 760 503 556 1,049 Other cash 279,673 30,194 83,470 28,197 14,787 18,419 10,724 29,937 12,439 5,207 16,399 6,232 23,668 Total reserves 9,134,223 514,017 3,509,766 570,955 672,964 295,200 264,792 1,702,955 278,099 186,812 279,077 180,657 678,929 Bills disco-anted! Secured by U,S.Gov't obligations, direct or fully guaranteed 9,789 312 5,809 1,174 255 405 75 980 100 15 130 489 45 Other bills discounted 1,259 152 658 73 18 9 7 35 45 5 39 143 75 Total bills discounted 11,048 464 6,467 1,247 273 4l4 82 1,015 145 20 169 632 120 Bills bought in open market 3,522 224 1,501 319 293 120 108 385 86 60 87 87 252 Industrial advances 22,544 3,301 5,449 4,208 1,053 2,198 330 1,008 339 795 714 1,237 1,912 U. S, Government securities: Bonds 689,621 50,281 196,815 58,144 67,138 36,500 30,419 76,167 30,572 22,549 34,095 27,037 59,904 Treasury notes 1,190,343 86,787 339,719 100,362 115,886 63,001 52,507 131,470 52,771 38,920 58,852 46,667 103,401 Treasury bills 606,619 44,229 173,127 51,146 59,057 32,107 26,758 66,999 26,893 19,835 29,992 23,782 52,694 Total U.S.Gov't securities 2,486,583 181,297 709,661 209,652 242,081 131,608 109,684 274,636 110,236 81,304 122,939 97,486 215,999 Total bills and securities 2,523,697 185,286 723,078 215,426 243,700 134,340 110,204 277,044 110,806 82,179 123,909 99,442 218,283 Due from foreign banks 230 17 88 23 21 10 8 27 4 3 7 6 16 F.R.notes of other banks 20,621 340 5,194 888 1,324 1,277 2,354 2,923 1,281 917 1,504 403 2,216 Uncollected items 780,351 79,645 197,051 58,107 78,242 70,110 27,387 109,890 33,934 16,824 39,215 30,534 39,412 Bank premises 45,872 3,043 10,088 4,920 6,333 2,782 2,226 4,682 2,377 1,500 3,243 1,255 3,423 All other assets 45,631 2,711 12,640 6,588 4,747 2,792 1,795 4,086 1,693 1,599 1,964 1,710 3,306 TOTAL ASSETS 12,550,625 785,059 4,457,905 856,907 1,007,32.506,511 408,766 2,101,607 428,194 289,834 448,919 314,007 945,585 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH APRIL 14, 1937 (in thousands of dollars) B-801c L I A B I L I T I ES Total Boston llew York Phila. Cleve. Ric' Atlanta Chicago St.Louis Minn. F.R.notes in actual circulation 4,176,094 319,930 888,469 310,306 423,394 196,1121 18844,,449988 959,290 179,132 138,921 Deposits: LI ember bank - reserve account 6,900,752 344,587 3 ,106,805 431,116 434,058 214,520 170,213 968,014 192,241 115,469 522,459 U.S.Treasurer - General account 111,674 8,480 43,930 4,781 7,464 4,898 8,767 7,285 1,962 2,381 6,541 3,387 11,798 Foreign bank 93,622 6,848 33,681 9,193 8,630 4,034 3,283 10,881 2,814 2,158 2,720 2,720 6,660 Other deposits 142,271 2,081 72,257 9,411 22,789 3,483 2,775 1,655 5,998 4,662 174 4,612 12,374 yptal deposits 7,248,319 361,996 3 ,256,673 454,501 472,941 226,935 185,038 987,835 203,015 124,670 240,569 180,8555 53,291 Deferred availability items 776,110 79,122 190,479 57,593 79,164 68,436 26,569 109,890 35,488 16,879 39,444 33,200 39,846 Capital paid in 132,168 9,380 51,260 12,239 12,841 4,858 4,331 12,585 3,810 2,897 3,993 3,862 10,112 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 36,177 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 8,413 361 2,546 1,581 540 357 • 270 1,171 352 272 283 325 355 TOTAL LIABILITIES 12,550,625 785,059 4,457,905 856,907^07,331 506,511 408,766 2,101,607 428,194 289,834 445,919 314,007 945,585 Ooiamitnents to make industrial advances 19,211 2,413 7,839 174 1,179 2,268 359 10 l,0f)4 65 139 444 3,317 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 11,048 10,424 253 59 228 74 10 Bills bought 3,522 2,715 59 395 353 Industrial advances 22,544 781 233 446 668 2,312 3,779 5,507 8;818 U.S.Government securities 2,486,583 12,277 23,740 52,437 71,271 365,962 363,810 254,971 703,068 639,047 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON APRIL l4, 1937 (in thousands of dollars) B-801d Total Boston New York Phila. Gleve. Rich, Atlanta Chicago St. Louis Minn. Kans. Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent -4,474,511 334,929 996,912 324,999 447,603 206,101 205,518 985,624 187,256 143,293 171,781 96,519 373,976 Held by Federal Reserve bank 298,4l7 14,999 108,443 14,693 24,209 9,989 21,020 26,334 8,124 4,372 12,847 7,714 45,673 In actual circulation 4,176,094 319,930 888,469 310,306 423,394 196,112 184,498 959,290 179,132 138,921 158,934 88,805 328,303 Collateral held by agent as security for notes issued to banki Go34 certificates on hand and due from U. S. Treasury 4,510,132 371,000 1,000,000 332,000 448,000 206,000 180,000 1,000,000 174,632 137,000 174,000 98,500 309,000 Eligible paper 10,949 450 6,518 1,193 255 405 75 992 127 15 163 624 132 U. S. Gov't securities 52,000 — — — 30,000 — 15,000 7,000 — — — Tot&l collateral 4,573,081 371,450 1,006,518 333,193 448,255 206,405 210,075 1,000,992 189,759 144,015 174,163 99,124 389,132 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis