H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS ileleased for publication Board of Governors Friday morning, June 11; of the Federal Reserve System not earlier. June 10, 1937® CONDITION OF FEDERAL RESERVE BANKS During the week ended June 9 member bank reserve balances increased #75,000,000. Additions to member bank reserves arose from decreases of $52,000,000 in money in circulation, #30,000/000 in Treasury deposits with Federal Reserve banks, and #18,000,000 in Treasury cash other than inactive gold, offset in part by an increase of #23,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 9 were estimated to be approximately #930,000,000, an increase of #70,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to #886,000,000 on June 9, an increase of #90,000,000 for the week. Changes in member bank reserve balances and related items during the week sSnd the year ended June 9, 1937, were as follows! Increase or decrease since June 9 June 2 June 10 1937 1937 1936 (In millions of dollars) Bills discounted 14 -3 +9 Bills bought 6 +3 U. S. Government securities 2,526 — +96 Industrial advances (not including 17 million commitments - June 9) 22 — -8 Other Reserve bank credit 4 +3 +2 Total Reserve bank 'credit 2,573 —— +102 Gold stock .12,118 +91 +1,638 Treasury currency 2,547 -1 +58 Member bank reserve balances 6,929 +75 +1,096 Money in circulation 6,435 -52 +498 Treasury cash 3,254 +72 +706 Treasury deposits with F. R. banks 85 -30 -431 Nonmember deposits and other F.R. accounts 534 +23 -71 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 11,1937; not earlier. B-801& ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (Jn thousands of dollars) June 9, 1937 June 2, 1937 June 10, 1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,839,489 8,838,4)1 7,939,040 Redemption fund - F. R. notes 9,971 11,34-1 13,261 Other cash 305,738 272,695 295,572 Total reserves . . . .. 9,155,198 9,122,437 8,247,873 Bills discounted! Secured by U.S.Gov't obligations,direct or fully guaranteed . 11,006 12,524 3,244 Other bills discounted 3,289 4,961 2,159 Total bills discounted 14,295 17,485 5,403 Bills bought in open market 5,818 6,261 3,076 Industrial advances 22,196 22,232 30,064 U. S. Government securities! Bonds 732,608 732,608 265,686 Treasury notes 1,152,213 1,152,213 1,541,224 Treasury bills 641.469 641.469 623,337 Total U. S. Government securities . . 2,526,290 2,526,290 2,430,247 Other securities . — — 181 Total bills and securities . . . .. 2,568,599 2,572,268 2,468,971 Due from foreign banks 226 226 238 F. R. notes of other banks 22,025 18,847 21,916 Uncollected items 595,266 646,056 531,098 Bank premises 45,687 45,685 48,051 All other assets 49.199 47,853 44,685 TOTAL ASSETS 12,436,200 12,453,372 11,362,832 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,202,049 4,235,114 3,785,980 Deposits I Member bank - reserve account .... 6,928,977 6,853,710 5,833,391 U. S. Treasurer - General account . . 84,642 115,099 516,4o4 Foreign bank . . 139,671 121,749 61,675 Other deposits 3-39,470 133,705 243,947 Total deposits 7,292,760 7,224,263 6,655,417 Deferred availability items 591,267 645,317 529,204 Capital paid in 132,196 132,198 130,871 Surplus (Section 7) 145,854 145,854 145,501 i3urplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies . 35,940 35,940 34,118 All other liabilities 8,644 7,196 55,228 TOTAL LIABILITIES 12,436,200 12,453,372 11,362,832 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 79.6% 79.655 79.0$ Contingent liability on bills purchased for fbreign correspondents 2,532 1,532 — Commitments to make industrial advances 16,956 17,018 24,798 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 9, 1937 (In thousands of dollars) A S S E TS B-SOlb Total Boston New York Phila. Cleve. Rich. A.t lanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran Gold certificates on hand andd ue from U.S. Treasury 8,839,489 455,399 3,287*131 507,990 695,531 280.110 237,728 1,777,278 277,811 196,189 276,304 182,134 665,884 Redemption fund - F. R. notes 9,971 652 sa 493 743 512 1,589 402 1,226 706 401 483 1,883 Other cash 305,738 40,838 92,342 23,823 13,573 18,957 12,496 36,732 15,688 4,790 16,542 5,939 24,018 Total reserves 9,155,198 496,889 3*380,354 532,306 709,847 299,579 251,813 1,814,412 294,725 201,685 293,247 188,556 691,785 Bills discounted* Secured by U.S.Gov't obligations, direct or fully guaranteed 11,006 620 6,118 1,372 495 442 494 224400 338800 3 95 222244 523 Other bills discounted 3,289 97 1,808 76 — — 629 — 72 8 l4o 154 305 Total bills discounted 14,295 717 7,926 1,448 495 442 1,123 240 452 11 235 378 828 Bills bought in open market 5,818 223 2,041 394 374 149 133 460 112 72 114 112 1,634 Industrial advances 2222,,119966 33,,117733 55,,990044 33,,999944 900 22,,112233 221 920 328 791 655 1,292 1,895 U. S. Government securitiesI 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 6633,,551166 Treasury notes 1,152,213 83,974 330*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 2,568,599 188,222 740,900 219,172 247,691 135,748 112,568 280,018 112,277 83,050 125,131 100,4l6 223,406 Due from foreign banks 226 17 85 23 21 10 8 27 4 3 6 6 16 F.R.notes of other banks 22,025 3l4 4,708 973 1,526 2,168 2,296 3,353 1,755 758 1,307 648 2,219 Uncollected items 595,266 60,000 l4l,355 48,197 55,354 54,308 24,254 83,171 26,6l6 16,288 31,503 25,270 28,950 Bank premises 45,687 3,033 10,055 4,899 6,307 2,764 2,219 4,661 2,370 1,497 3,217 1,259 3,4)6 All other assets 49,199 3,033 13,849 6,319 5,166 2,983 1,930 4,576 1,890 1,714 2,152 1,905 3,682 TOTAL ASSETS 12,436,200 751,508 4,291,306 811,889 1,025,912 497,560 395,088 2,190,218 439,637 304,995 456,563 318,060 953,464 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE BAMS ON JUNE 9, 1937 (In thousands of dollars) B-SOlc 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 >4,302,0-49 305,012 903,732 31-4,661- 433,185 192,7-41 176,705 970,324 179,386 138,338 162,030 91,,930 334,005 Deposits: Member bank - reserve account 6,928,977 3-47,171 2,982,927 385,788 -462,681 22-4,162 172,152 1,065,637 203,245 132,737 240,822 177,820 533,835 U.S.Treasurer - General account 84,6-42 3,5-43 28,769 5,333 5,855 3,392 2,925 8,317 3,518 3,457 8,064 3,395 8,074 Foreign bank 139,671 10,206 50,337 13,701 12,862 6,012 4,893 16,217 4,194 3,215 4,054 4,054 9,926 Other deposits 139,470 2,050 67,711 9,331 24,429 3,567 2,872 1,444 10,560 2,186 188 3,195 11,937 Total deposits 7,292,760 362,970 3,129,744 414,153 505,827 237,133 182,842 1,091,615 221,517 141,595 253,128 188,464 563,772 Deferred availability items 591,267 59,226 136,306 48,955 54,927 52,566 22,826 83,233 28,182 15,682 31,432 26,589 31,343 Capital paid in 132,196 9,376 51,257 12,239 12,861 4,854 4,323 12,608 3,€13 2,899 3,995 3,86l 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 1,1*2 x»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 94l 1,847 2,037 All other liabilities 8,644 654 1,958 1,194 661 453 332 1,658 340 300 282 256 556 TOTAL LIABILITIES 12,436,200 751,508 4,291,306 811,889 1,025,912 497,560 395,088 2,190,218 439,637 304,995 456,563 318,060 953,464 Contingent liability on bills purchased for foreign correspondents 2,532 185 9l4 248 233 109 89 294 76 58 73 73 180 Commitments to make industrial advances 16,956 2,235 6,038 155 1,333 2,001 345 10 1,158 65 128 302 3,186 MATURITY DISTRIBUTION OF BILLS AND SECURITIES TO.thin 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 14,295 , 12,525 586 4l6 406 358 Bills bought 5,818 3,223 880 528 1,187 Industrial advances 22,196 791 297 996 465 1,889 3,405 5,433 8,920 U.S.Government securities 2,526,290 33,561 34,660 70,608 70,121 319,423 381,444 258,971 675,815 681,687 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JUNE 9, 1937 (in thousands of dollars) B~801d Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes * Issued to F.R.bank by F.R.agent 4,517,118 334,842 1,011,396 331,905 458,523 203,729 193,684 1,000,115 188,556 143,076 172,878 101,763 376.651 Held by Federal Reserve bank 315,069 29,830 107,664 17,244 25,338 10,988 16,979 29,791 9,170 4,738 10,848 9,333 42,646 In actual circulation 4,202,049 305,012 903,732 314,661 433,185 192,741 176,705 970,324 179,386 138,338 162,030 91,930 334,005 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,550,132 341,000 1,020,000 335,000 459,500 206,000 178,000 1,010,000 189,632 146,000 174,000 102,000 389,000 Eligible paper 16,324 717 8,291 1,449 577 471 1,148 316 428 22 262. 403 2,240 U. S. GovH securities 20,000 — — — _ _ 20,000 — Total collateral 4,586,456 341,717 1,028,291 336,449 460,077 206,471 199,148 1,010,316 190,060 146,022 174,262 102,403 391,24c Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis