H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, May of the Federal Reserve System not earlier. May 13, 1937 COUDITION OF FEDERAL RESERVE BANKS During the week ended May 12 member bank reserve balances increased $61,000,000. Additions to member bank reserves aro&e fro® an increase of #44,000,000 in gold stock and decreases of #21,000,000 in money in circulation and #49,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $43,000,000 in Treasury cash and $9,000,000 in Treasury deposits with Federal Reserve banks and a decrease of #2,000,000 in Treasury currency. Excess reserves of member banks on May 12 were estimated to be approximately $940,000,000, an increase of $50,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $651,000,000 on May 12, an increase of $45,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended May 12, 1937, were as follows I Increase or decrease since May 12 May 5 May 13 1937 1937 1936 (In millions of dollars) Bills discounted 16 -1 +11 Bills bought 5 +1 — U. S. Government securities 2,526 +96 Industrial advances (not including 17 million commitments - May 12) 23 — -7 Other Reserve bank credit 6 -1 +6 Total Reserve bank credit 2,576 -1 +107 Gold stock 11,882 +44 +1,580 Treasury currency 2,545 -2 +49 Member bank reserve balances 6,9-43 +61 +1,332 Money in circulation 6,405 -21 +517 Treasury cash 3,056 +43 +473 Treasury deposits with F. R. banks 106 +9 -472 Nonmember deposits and other F. R. accounts 494 -49 -114 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 14,1937; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) May 12, 1937 May 5, 1937 May 13, 1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,839,408 8,842,902 7,729,834 Redemption fund - F. R. notes 11,713 10,079 12,451 Other cash 288.280 279.497 32-4.928 Total reserves 9,139,401 9,132,478 8,067,213 Bills discounted: Secured by U.S.Soft obligations, direct or fully guaranteed 12,949 13,917 2,292 Other bills discounted 2.705 2.918 2.489 Total bills discounted 15,654 16,835 4,781 Bills bought in open market 4,534 3,739 4,677 Industrial advances 22,779 22,854 29,963 U. S. Government securities! Bonds 732,428 732,428 265,693 Treasury notes 1,152,393 1,152,393 1,547,849 Treasury bills . . * 641.469 641.469 616,717 Total U.S.Government securities . . . 2,526,290 2,526,290 2,430,259 Other securities — — 181 Total bills and securities 2,569,257 2,569,718 2,469,861 Due from foreign banks 230 230 240 F. R. notes of other banks 21,542 21,036 22,936 Uncollected items 666,762 616,874 595,188 Bank premises 45,787 45,785 48,050 All other assets 45.956 45.122 39,764 TOTAL ASSETS 12,488,935 12,431,243 11,243,252 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,193,868 4,207,722 3,762,028 Deposits! Member bank - reserve account ...... 6,942,727 6,882,362 5,611,072 U.S.Treasurer - General account . . .. 106,177 97,263 577,985 Foreign bank . 104,979 103,914 84,226 Other deposits 131,566 181,699 266,517 Total deposits 7,285,449 7,265,238 6,539,800 Deferred availability items 660,697 609,920 595,878 Capital paid in 132,193 132,193 130,721 Surplus (Section 7} 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 35,974 35,993 34,114 All other liabilities 7,410 6,833 8,697 TOTAL LIABILITIES 12,488,935 12,431,243 11,243,252 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 79,6% 79,6% 78,3% Contingent liability on bills purchased for foreign correspondents 1,532 1,034 Commitments to make industrial advances 17,183 17,454 26,014 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAI 12,1 937 (in thousands of dollars) B-801b A S S E TS Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury- 8,839,4)8 467,406 3,304,863 522,660 690,447 281,529 250,04l 1,728,828 271,701 200,352 274,963 182,104 664,514 Redemption fund - F. R. notes 11,713 826 1,457 703 935 471 1,769 627 1,286 732 436 520 1,951 Other cash 288,280 39,323 86,564 25,335 12,470 19,381 11,685 29,183 13,494 4,830 16,378 6,339 23,298 Total reserves 9,139,401 507,555 3,392,884 548,698 703,852 301,381 263,495 1,758,638 286,461 205,914 291,777 188,963 689,763 Bills discounted s Secured by U.S.Gov't obligations, direct or fully guaranteed 12,949 666644 6,583 1,858 275 44ll88 1,215 130 175 300 4455 808 447788 Other bills discounted 2,705 156 1,651 111 —' 350 15 54 5 137 85 l4l Total bills discounted 15,654 820 8,234 1,969 275 418 1,565 145 229 305 182 893 619 Bills bought in open market 4,534 223 2,523 318 292 119 107 383 86 60 87 87 249 Industrial advances 22,779 3,220 5,966 4,119 983 2,172 251 1,006 335 786 683 1,333 1,925 U. S. Government securities! Bonds 732,428 53,372 210,182 61,845 71,291 38,566 32,276 80,706 32,290 23,822 35,983 2288,,559944 63,501 Treasury notes 1,152,393 83,987 330,742 97,319 112,185 60,687 50,631 126,999 50,811• 37,488 56,625 44,994 99,925 Treasury bills 641,469 46,750 184,105 54,172 62,446 33,781 28,184 70,693 28,284 20,866 31,519 25,046 55,623 Total U.S.Gov't securities 2,526,290 184,109 725,029 213,336 245,922 133,034 111,091 278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,569,257 188,372 741,752 219,742 247,472 135,743 113,014 279,932 112,035 83,327 125,079 100,947 221,842 Due from foreign banks 230 17 87 23 21 10 8 27 4 3 7 7 16 F.R. notes of other banks 21,542 360 4,775 906 1,331 1,513 2,476 2,915 1,979 732 1,524 475 2,556 Uncollected items 666,762 72,036 157,936 53,361 69,070 59,660 24,171 95,293 28,889 15,496 32,903 25,213 32,734 Bank premises 45,787 3,038 10,071 4,910 6,320 2,773 2,223 4,671 2,372 1,500 3,230 1,264 3,415 All other assets 45,956 2,814 13,075 5,629 4,900 2,858 1,820 4,275 1,760 1,606 2,010 1,761 3 448 ? TOTAL ASSETS 12,488,935 774,192 4,320,580 833,269 1,032,966 503,938 407,207 2,145,751 433,520 308,578 456,530 318,630 953,774 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAI 12, 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 4,193,868 313,301 890,988 313,900 430,974 195,329 182,352 969,364 178,340 l4o,582 159,459 89,694 329,585 Deposits t Member bank - reserve account 6,942,727 346,387 2,986,064 419,669 • 456 246,969 180,831 536,352 U.S.Treasurer - General account 106,177 8,200 60,791 2,459 897 4,100 2,563 9,537 Foreign bank 104,979 7,570 38,716 10,162 385 3,007 3,007 7,363 Other deposits 131,566 2,712 69,079 1,293 158 4,558 11,847 7 ' . * *. * * , I T II- Total deposits 7,285,449 364,869 3,154,650 433,583 502,631 236,026 188,919 1,037,559 214,036 142,884 254,234 190,959 565,099 Deferred availability items 660,697 71,949 153,475 52,103 A6v7.,Z4n0o9 57,502 23,2O5A3^ 9Q4A,.1I5^2O 30,605 1T5^,.7T1I7V 32,854 2066,.9003m ^3L4.,t7?7*5, Capital paid-in 132,193 9,376 51,273 12,241 12,856 4,857 4,317 12,607 3,803 2,898 3,993 3,860 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 2,374 7,744 4,325 1,007 3,422 754 1,416 545 1,003 1,142 1,262 1,996 Reserve for contingencies 35,974 1,570 9,091 3,000 3,121 1,522 1,690 7,888 1,198 2,069 941 1,847 2,037 All other liabilities 7,410 427 1,885 755 645 411 306 1,261 338 309 294 254 525 TOTAL LIABILITIES 12,488,935 774,192 4,320,580 833,269 1,032,966 503,938 407,207 2,145,751 433,520 308,578 ^56,530 318,630 953,774 Contingent liability on bills purchased for foreign correspondents 1,532 112 553 150 l4l 66 54 178 46 35 44 44 109 Commitments to make industrial advances 17,183 2,333 6,044 166 1,340 2,177 351 10 1,001 64 134 302 3,261 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 15,654 14,580 133 465 218 239 19 Bills bought 4,534 874 136 666 2,858 Industrial advances 22,779 795 206 577 1,101 1,688 3,840 5,569 9,003 U.S.Government securities 2,526,290 27,870 24,667 68,121 73,108 344,144 372,087 254,971 679,815 681,507 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL EB3E5S3 "CTE S? OK MJCT 12, 1937 (In tlioubaiidy of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Issued to F.R.bank by F.R.agent 4,501 .,461 333,140 1,002,9.36 320,312 456,131 205,326 201,199 996,697 187,696 1-44,831 171,241 98,797 373,085 Held by Federal Reserve bank 307,19./339 1 1 1 1 6 / 3 .2 25.137 9,997 18,1:-:,/ 27,3 33 4,26V llj9'S? 9 103 43 >90 r y In actual circulation 4,193,868 313;301 890,988 313,900 430,974 195,329 182,352 969,364 178,340 l4),582 159,459 89,694 329,585 Collateral held by agent as security for notes issued to bankt Gold certificates on hand and due from U. S. Treasury 4,536,632 356,000 1,010,000 332,000 460,000 206,000 I80,0001pl0,000 174,632 146,000 174,000 99,000 389,000 Eligible paper 16,?-'4 820 9,116 1,894 275 418 1,4 >9 3.45 199 305 179 891 643 U.S. Gov't securities 4_5,«>'.):) — — — —- 30,009 — 15,000 — — — Total collateral 4,597,976 356,820 1,019,116 333,894 460,275 206,4l8 211,4591/30,145 189,831 146,305 174,179 99,891 389,643 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis