H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, April 30; of the Federal Reserve System not earlier. April 29, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended April 28 member bank reserve balances increased $57,000,000* Additions to mmher "bank reserves arose from increases of $48,000,000 in Reserve bank credit, and $45*000,000 in gold stock, and decreases of $7,000,000 in money in circulation and $24,000,000 in Treasury deposits with Federal Reserve banks, offset in port by increases of #42,000,000 in Treasury cash and $24,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on April 28 were estimated to be approximately $1,640,000,000, an increase of 050,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $551,000,000 on April 28, an increase of $45,000,000 for the week. Principal changes in holdings of bills and securities were increases of 000,000 in discounted bills, $46,000,000 in United States bonds, and #11,000,000 in United States Treasury bills, and a decrease of $18,000,000 in United States Treasury notes. Changes in member bank reserve balances and related items during the week and the year ended April 28, 1937, were as followsi Increase or decrease since Apr. 28 Apr* 21 Apr. 29 1937 1937 1936 (In millions of dollars) Bills discounted 11 +3 +6 Btlla bought 4 +1 -1 U. S. Government securities 2,526 +39 +96 Industrial advances (not including 18 million commitments - April 28) 23 — -7 Other Reserve bank credit 6 +4 +4 Total Reserve bank credit 2,571 •48 +99 Gold stock 11,762 +45 +1,561 Treasury currency 2,541 +1 +4o Member bank reserve balances 6,934 +57 +1,428 Money in circulation 6,381 -7- +522 Treasury cash 2,956 +42 +427 Treasury deposits v&th F. R. banks 95 -24 -584 Nonmember deposits and other F. R. accountg 528 +24 -93 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, April 30,1937; not earlier. B~801a ASSETS AND LIABILITIES OF THE T'vVELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Apr. 28,1937 Apr. 21,1937 Apr. 29,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,843,402 8,843,903 7,703,833 Redemption fund - F. R. ndtes . . .. 9,595 9,776 12,942 Other cash 289,136 282,306 339,651 Total reserves 9,1-42,133 9,135,985 8,056,4-26 Bills discounted! Secured by U.S.Gov't obligations,direct or fully guaranteed 9,366 6,260 2,858 Other bills discounted 1,633 1,432 2.465 Total bills discounted 10,999 7,692 5,323 Bills bought in open market 3,743 3,465 4,684 Industrial advances . . 23,180 23,084 30,319 U. S. Government securities: Bonds 734,728 688,621 265,723 Treasury notes 1,156,393 1,174,343 1,554,889 Treasury bills 635,119 623.619 609.667 Total U. S. Government securities . 2,526,240 2,486,583 2,430,279 Other securities —1 — 181 Total bills and securities . . .. 2,564,162 2,520,824 2,470,786 Due from foreign banks 230 230 631 F. R. notes of other banks 21,033 23,904 19,664 Uncollected items 626,231 693,276 522,097 Bank premises . . .. 45,861 45,869 48,031 All other assets 45,495 43.944 38,093 TOTAL ASSETS 12,445,145 12,464,032 11,155,728 L I A B I L I T I ES F. R. notes in actual circulation . . 4,176,990 4,184,068 3,741,690 Deposits t Member bank - reserve account . . .. 6,933,816 6,876,640 5,506,314 U.S.Treasurer - General account . . . 94,747 118,631 679,209 Foreign bonk 96,017 99,234 83,356 Other deposits 173.966 145,780 278,147 Total deposits 7,298,546 7,240,285 6,547,026 Deferred availability items 619,975 691,279 521,228 Capital paid in 132,183 132,186 130,657 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 36,3,42 36,142 34,108 .All other liabilities 7,965 6,728 9,005 TOTAL LIABILITIES 12,445,145 12,464,032 11,155,728 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 79.7$ 80.0$ 78.3$ Contingent liability on bills purchased for foreign correspondents 784 — — Commitments to make industrial advances 17,528 17,530 25,576 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AIID LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 28, 1937 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,843,402 476,086 3,383,347 538,562 652,533 263,730 238,714 1,764,548 271,732 180,559 265,731 169,436 638,4-24 Redemption fund - F. R. notes 9,595 901 908 346 590 522 1,883 316 1,335 750 483 540 1,021 Other cash 2.89,136 32,603 85,085 27,077 16,908 20, 680 11,085 29,941 13,525 5,532 16,611 6,192 23, C97 Total reserves 9,142,133 509,590 3,469,340 565,985 670,031 284,932 251,682 1,794,805 286,592 186,841 282,825 176,168 663,342 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 9,366 794 3,411 1,718 180 630 1,250 120 175 15 170 748 155 Other bills discounted 1,633 107 1,058 127 18 9 7 23 31 5 79 105 64 Total bills discounted 10,999 901 4,469 1,845 198 639 1,257 143 206 20 249 853 219 Bills bought in open market 3,743 223 1,731 318 292 119 107 384 86 60 87 87 249 Industrial advances 23,180 3,278 6,094 4,225 1,044 2,190 268 1,006 337 784 704 1,339 1,911 U. S. Government securities: Bonds 734,728 53,544 210,856 62,043 71,520 38,690 32,329 80,965 32,393 23,899 36,099 28,686 63,704 Treasury notes 1,156,393 84,278 331,891 97,656 112,575 60,898 50,806 127,440 50,988 37,617 56,821 45,150 100,273 Treasury bills 635,119 46,287 182,282 53,636 61,828 33,447 27,905 69,993 28,004 20,660 31,207 24,798 55,072 TotyfcL U.S.Gov't securities 2,526,240 184,109 725,029 213,335 245,923 133,035 111,040 278,398 111. 1 3858 2,176 124 ,127 98,634 219,049 Total bills and securities 2,564,162 188,511 737,323 219,723 247,457 135,983 112,672 279,931 112,014 83,040 125,167 100,913 221,428 Due from foreign banks 2.30 17 88 23 21 10 8 27 4 3 7 6 16 F.R.notes of other banks 21,033 348 5,712 904 1,217 1,825 2,384 2,645 1,221 1,358 1,251 522 1,736 Uncollected items 626,231 63,470 149,377 46,219 64,043 51,097 26,664 88,152 27,836 18,005 31,158 24,550 35,660 Bank premises 45,861 3,043 10,088 4,910 6,333 2,773 2,224 4,682 2,376 1,500 3,244 1,269 3,419 All other assets 45,495 2,720 12,755 6,190 4,802 2,800 1,793 4,098 1,704 1,500 1,994 1,732 3,327 TOTAL ASSETS 12,445,145 767,699 4,384,683 843,954 993,904 479,420 397,427 2,174,340 431,747 292,237 445,646 305,160 928,928 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH APRIL 28, 1937 (In thousands of dollars) B~801c 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 Sa Fnran. F.R.notes in actual circulation 4,176,990 319,438 889,743 311,912. 425,686 193,379 182,747 963,699 178,254 139,700 159,270 88,713 324,449 Deposits: Member bank - reserve account 6,933,816 346,012 3,051,462 433,948 437,0032 10,286 167,073 1,053,102 197,829 116,546 234.673 167,984 517,898 U.S.Treasurer - General account 94,747 4,167 39,663 1,867 7,366 2 ^ 227 2,069 12,666 4,540 2,726 7,461 2,302 7,693 Foreign bank 96,017 7,010 34,659 9,410 8,834 4 ,129 3,361 11*138 2,881 2,208 2,785 2,785 6,817 Other deposits 173,966 2,757 102,992 6,307 21,346 5,673 3,611 1,632 8,167 4,561 1524,900 11,868 Ibtal deposits 7,298,546 359,946 3,228,776 451,532 474,549 222,315 176,114 1,078,538 213,417 126,041 245,071 177,971 544,276 Deferred availability items 619,975 64,245 144,612 46,314 61,748 48,681 25,912 87,316 29,544 17,095 31,288 27,336 35,884 Capital paid in 132,183 9,376 51,274 12,240 12,853 4,858 4,317 12,588 3,810 2,897 3,993 3,862 10,115 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 36,142 1,570 9,260 3,000 3,121 1,52.2 1,690 7,880 1,197 2,069 941 1,847 2,037 All other liabilities 7,965 424 1,800 1,269 617 374 277 1,391 325 316 328 318 526 TOTAL LIABILITIES 12,445,145 767,699 4,384,683 843,954 993,904 479,420 397,427 2,174,340 431,747 292,237 445,646 305,160 928,928 Contingent liability on bills purchased for foreign correspondents 784 57 283 77 7722 3344 2277 9911 2233 18 23 23 56 Commitments to make industrial advances 17,528 2,377 6,293 174 1,355 2,185 358 10 1,004 65 136 302 3,269 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Yea? 2 Years Over Total 15 days 30 days 60 days 90 days 6 months to 1 Ysar to 2 Y#surs to 5 Years 5 Years Bills discounted 10,999 10,226 59 84 487 133 10 Bills bought 3,743 30 310 6l4 2,789 Industrial advances 23,180 942 221 413 661 2,269 3,815 5,558 9,301 U.S.Government securities 2,526,240 23,790 27,770 59,278 67,123 354,334 375,302 254,971 679,815 683,857 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE HOTS STATEMENT ON APRIL 28, 1937 (in thousands of dollars) B-801d Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Ilinn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank ty F.R.agent 4,494,218 353,636 992,010 326,877 452,2.83 204,04l 203,542 992,281 187,275 143,653 170,974 97,752 369,894 Held by Federal Reserve bank 317,228 34,198 102,267 14,965 26,597 10,662. 20,795 28,582 9,021 3,953 11,704 9,039 45,445 In actual circulation 4,176,990 319,438 889,743 311,912. 425,686 193,379 182,747 963,699 178,254 139,700 159,270 88,713 324,449 Collateral held by agent as security for notes issued to banks Gold certificates on hand and due from U. S. Treasury 4,518,132 37L,000ip00,000 332,000 457,000 204,000 180,000 3/)00,000 174,632 138,000 174,000 98,500 389,CH0 Eligible paper .10,848 887 4,497 1,750 180 630 1,250 120 200 15 244 846 229 U. 8. Gov't securities 52,000 — — ~ 30,000 15,000 7,000 Total collateral 4,580,980 371,887ipo4,497 333,750 457,180 204,630 211,250 lp00,120 189,832 145,015 174,244 99,346 389,229 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis