H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, June of the Federal Reserve System not earlier* June 3, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended June 2 member bank reserve balances decreased $90,000,000. Reductions in member bank reserves resulted from increases of #88,000,000 in money in circulation and $35,000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of $16,000,000 in Reserve bank credit and $2,000,000 in Treasury currency and decreases of $8,000,000 in Treasury cash, other than inactive gold, and $6,000,000 in nonmember deposits and other Federal Reserve accounts* Excess reserves of member banks on June 2 were estimated to be approximately $S60,000 000, a decrease of $80,000,000 for r the week. Inactive gold included in the gold stock and Treasury cash amounted to $796,000,000 on June 2, an increase of $50,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended June 2, 1937, were as follows! Increase o* decrease since June 2 May 26 June 3 1937 1937 1936 (In millions of dollars) Bills discounted 17 +1 +11 Bills bought 6 — +3 U. S. Government securities 2,526 — +96 Industrial advances (not including 17 million ooiamitnants - June 2) 22 —. -8 Other Reserve bank credit 1 +14 -19 Total Reserve ballk credit 2,573 +16 +84 Gold stock 12,027 +50 +1,618 Treasury currency 2,548 +2 +55 Member bank reserve balances 6,854 -90 +I,l4l Money in circulation 6,487 +88 +534 Treasury cash 3,182 +42 +603 Treasury deposits with F. R. banks 115 +35 -390 Nonmenber deposits and other F. R. accounts 511 -6 -130 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 4,1937$ not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) June 2. 1937 May 26. 1937 June 3.1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,838,401 8,838,4l4 7,840,037 Redemption fund - F. R. notes ll,34l 11,341 13,261 Other cash . . . . . . . . . . . . . . .. 272.695 296.310 290,695 Total reserves 9,122/37 9,146,065 8,143,993 Bills discounted! Secured by U. S. Gov't obligations, direct or fully guaranteed 12,524 12,326 3,611 Other bills discounted ... 4.961 3,372 2,24) Total bills discounted 17,485 15,698 5,851 Bills bought in open market 6,261 6,260 3,076 Industrial advances 22,232 22,4)7 30,166 U. S. Government securities! Bonds 732,608 732,608 265,680 Treasury notes 1,152,213 1,152,213 1,536,227 Treasury bills 641,469 641,469 628,337 Total U. S. Government securities . . . 2,526,290 2,526,290 2,430,244 Other securities — — 181 Total bills and securities 2,572,268 2,570,655 2,469,518 Due from foreign banks 226 228 237 F. R. notes of other banks 18,847 21,615 20,243 Uncollected items 646,056 604,558 613,591 Bank premises 45,685 45,776 48,052 All other assets 47,853 47,202 42,689 TOTAL ASSETS 12,453,372 12,436,099 11,338,323 L I A B I L I T I ES F. R. note$ in actual circulation . . .. 4,235,114 4,184,042 3,793,959 Deposits! Member bank - reserve account 6,853,710 6,943,597 5,713,315 U.S.Treasurer - General account . . .. 115,099 80,486 504,733 Foreign bank 121,749 124,04l 53,607 Other deposits 133,705 136.725 295.4o6 Total deposits 7,224,263 7,284,849 6,567,061 Deferred availability items 645,317 618,046 594,315 Capital paid in 132,198 132,202 130,796 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 35,940 35,939 34 ll4 All other liabilities 7,196 7,677 46,^064 TOTAL LIABILITIES 12,453,372 12,436,099 11,338,323 Ratio of total reserves to deposit and F, R. note liabilities combined * . . . 79.6% 79.7% 78.6% Contingent liability on bills purchased for foreign correspondents 1,532 1,532 Commitments to make industrial advances • 17,018 17,188 24,878 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 2, 1937 (in thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Finn. Kans.Cyv Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,838,401 448,543 3,311,491 520,043 695,341 292,412 242,880 1,743,519 279,478 190,568 274,686 183,194 656,246 Redemption fund'- F.R. notes 11,341 760 1,194 595 850 857 1,697 541 1,265 723 421 508 1,930 Other cash 272,695 39,152 69,126 22,460 16,340 20,407 10,291 30,142 14,137 5,331 15,752. 5,453 24,104 Total reserves 9,122,437 488,455 3,381,811 543,098 712,531 313,676 254,868 1,774,202 294,880 196,622 290,859 189,155 682,280 Bills discounted i Secured by U.S.Gov,t obligations, direct or fully guaranteed 12,524 1,014 6,214 1,409 365 538 664499 170 1,080 53 4455 446644 523 Other bills discounted 4,961 347 1,914 93 — — 1,936 12 78 8 131 142 300 Total bills discounted 17,485 1,361 8,128 1,502 365 538 2,585 182 1,158 61 176 606 823 Bills bought in open market 6,261 223 1,996 394 374 149 133 460 112 79 114 112 2,115 Industrial advances 22,232 3,168 5,909 4,011 900 2,124 224 920 329 782 660 1,278 1,927 U« S. Government securitiest Bonds 732,608 53,385 210,233 61,861 71,309 38,575 32,284 80,726 32,298 23,828 35,992 28,601 63,516 Treasury notes 1,152,213 83,974 33p,691 97,303 112,167 60,678 50,623 126,979 50,803 37,482 56,616 44,987 99,910 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 2,572,268 188,861 741,062 219,243 247,561 135,845 114,033 279,960 112,984 83,098 125,077 100,630 223,914 Due from foreign banks 226 17 85 23 21 10 8 27 4 3 6 6 16 F.R.notes of other banks 18,847 321 3,846 630 988 1,360 1,493 2,631 1,894 1,821 1,921 463 1,489 Uncollected items 646,056 63,883 147,8l4 48,644 68,835 60,949 20,482 89,717 27,479 18,098 36,029 28,006 36,120 Bank premises 45,685 3,033 10,055 4,899 6,306 2,764 2,219 4,661 2,369 1,497 3,217 1,259 3,406 All other assets 47,853 2,990 13,667 5,675 5,093 2,899 1,921 4,489 1,865 1,685 2,108 1,843 3,6l8 TOTAL ASSETS 12,453,372 747,560 4,298,340 822,202 l,o4l,335 517,503 395,024 2,155,687 441,475 302,824 459,217 321,362 950,843 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 2, 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 San Fran. F.R.notes in actual circulation 4,235,114 307,243 925,351 315,159 431,089 193,969 178,769 976,166 180,397 139,292 160,453 92,736 334,490 Deposits: Member bank - reserve account 66,,885533,,771100 336,780 22,,996622,,441188 395,259 465,929 227,464 174,723 1,007,477 206,774 128,842 241,234 179,223 527,587 U.S.Treasurer — General account 115,099 3,223 35,813 8,322 8,619 12,367 2,373 21,044 3,536 1,784 7,161 2,222 8,635 Foreign bank 121,749 8,754 45,117 11,753 11,033 5,157 4,197 13,911 3,598 2,758 3,478 3,478 8,515 Other deposits 133,705 2,606 62,368 9,115 23,867 4,149 3,533 1,684 7,564 2,833 242 3,438 12,306 Total deposits 7,224,263 351,363 3,105,716 424,449 509,448 249,137 184,826 1,044,116 221,472 136,217 252,115 188,361 557,043 Deferred availability items 645,317 64,860 145,554 49,110 68,898 59,350 18,749 90,788 29,074 17,978 36,712 29,217 35,027 Capital paid in 132,198 9,376 51,261 12,239 12,856 A, 857 4,323 12,609 3,813 2,898 3,995 3,861 10,110 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 35,940 1,570 9,091 3,000 3,121 1,522 1,690 7,860 1,199 2,062 941 1,847 2,037 All other liabilities 7,196 448 2,149 558 593 377 297 1,228 320 258 246 227 495 TOTAL LIABILITIES 12,453,372 747,560 4,298,340 822, 202 l,04l, 335 517,503 395,024 2,1 55,687 44l,4 75 302,824 459,217 321,362 950,843 Contingent liability on bills purchased for foreign correspondents 1,532 112 553 150 141 66 54 178 46 35 44 44 109 Commitments to make industrial advances 17,018 2,248 6,042 170 1, 336 2,009 350 10 1,1 58 65 128 302 3,200 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 17,485 15,947 269 574 367 320 8 , r 3ills bought 6,261 1,437 3,002 635 1,187 — — Industrial advances 22,232 812 324 521 735 1,996 3,476 5.436 8,932 _ U,S.Government securities 2,526,290 22,120 42,051 67,808 63,075 331,049 383,714 258,971 675,815 681,687 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JUNE 2, 1937 (In thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Qy. Dallas San Fran. federal Reserve notes» Issued to F.R.bank by F.R. agent 4,505,125 334,824 1,00A,087 331,135 456,647 203,886 194,643 1,002,007 188,688 145,088 171,111 99,054 373,955 Held by Federal Reserve bank 270,011 27,581 78,736 15,976 25,558 9,917 15,874 25,841 8,291 5,796 10,658 6,318 39,465 In actual circulation 4,235,114 307,243 925,351 315,159 431 >089 193,969 178,769 97$,166 180,397 139,292 160,453 92,736 334,490 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,538,132 341,000 1,010,000 335,000 459,500 206,000 178,000 1,010,000 189,632 146,000 174,000 100,000 389,000 Eligible paper 19,943 1,361 8,433 1,503 447 567 2,610 258 1,134 80 201 632 2,717 U. S. Gov't securities 20,000 — — — — — 20,000 —• — — -- — Total collateral 4,578,075 342,361 1,018,433 336,503 459,947 206,567 200,610 1,010,258 190,766 146,080 174,201 100,632 391,717 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis