H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Seleased for publication Board of Governors Friday morning, June 255 of the Federal Reserve System not earlier* June 24, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended June 23 member bank reserve balances increased #46,000,000. Additions to member bank reserves arbse from decreases of $21,000,000 in money in circulation, $99,000,000 in Treasury deposits with Federal Reserve banks and #3,000,000 in Treasury cash other than inactive gold and an increase of #2,000,000 in Treasury currency, offset in part by a decrease of $21,000,000 in Reserve bank credit and an increase of #57,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on June 23 were estimated to be approximately #810,000,000, an incre se of #60,000,000 for the week. a Inactive gold included in the gold stock and Treasury cash amounted to #1,039,000,000 on June 23, an increase of #51,000,000 for the week. Principal changes in holdings of bills and securities were an increase of #2,000,000 in United States Treasury notes and a decrease of #2,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and thevyear ended June 23, 1937, were as follows! Increase or decrease since June 23 June 16 June 24 1937 1937 1936 (In millions of dollars) Bills discounted 13 -1 +7 Bills bought 4 -1 +1 U# S. Government securities 2,526 +96 Industrial advances (not including 17 million commitments - June 23) 22 -8 Other Reserve bank credit -3 -19 -5 Total Reserve bank credit 2,562 -21 +90 Gold stock 12,270 +50 +1,670 Treasury currency 2,550 +2 +50 Member bank reserve balances 6,854 +46 +1,546 Money in circulation 6,394 -21 +221 Treasury cash 3,396 +48 +748 Treasury deposits with F R. banks # 151 -99 -778 Nonmember deposits and other F. R. accounts 587 +57 +74 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 25,1937? not earlier. B~801a ASSETS At© LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) June 23, 1937 June 16, 1937 June 24, 1936 A S S E TS Gold certificates on hand and due from U* S. Treasury • • • • • • •• 8,836,904 8,837,903 7,958,042 Redemption fund - F. R. notes . • • • 10,241 9,860 12,364 Other cash • 322,491 313,595 272,844 Total reserves . . . . . . . . .. 9,169,636 9,161,358 8,243,250 Bills discountedt Secured by U.S. Gov^t obligations, direct or fully guaranteed 9,844 11,521 3,985 • • Other bills discounted • . • • 3,459 2,807 2,204 Total b?lis discounted • 13,303 14,328 6,189 • • • Bills bought in open market , . . . 4,273 •5,094 3,077 Industrial advances 22,012 22,049 29,936 U. S. Government securities s Bonds 732,558 732,608 315,678 Treasury notes 1,168,213 1,166,213 1,494,199 Treasury bills 625,469 627,469 620,357 Total U. S. Government securities 2 £26,2.40 2,526,290 2,430,234 Other securities . . . . .. — — 181 Total bills and securities 2,565,828 2,567,761 2,469,617 Due from foreign banks . • . 219 219 237 F. R* notes of other banks • 23,108 21,277 15,392 Uncollected items 630,603 866,372 551,560 Bank premises 45,697 45,700 48,052 All other assets 40,758 40,2.43 38,813 TOTAL ASSETS 12,475,849 12,702,930 11,366,921 L I A B I L I T I ES F, R. notes in actual circulation • . 4,162,832 4,177,805 3,980,018 Deposits! Member bank - reserve account . . 6,854,411 6,807,978 5,307,954 # U.S.Treasurer - General account • • 150,928 250,212 929,072 Foreign bank . • • 166,963 147,450 56,258 Other deposits 156 ,,553 119,479 195,677 Total deposits 7,328,855 7,325,119 6,4S8,96l Deferred availability items 634,198 851,089 549,671 Capital paid in 132,205 132,240 130,879 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 35,931 35,931 34,116 All other liabilities . . 8,484 7,402 11,262 TOTAL LIABILITIES 12,475,849 12,702,930 11,366,921 Ratio of total reserves to deposit and F, R. note liabilities combined • • 79.8 79.6% 78.7% Contingent liability on bills purchased for foreign correspondents . • • • 4,044 3,745 — Commitments to make industrial advances 16,733 16,801 24,452 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS At© LIABILITIES OF THE FEDERAL RESERVE BANKS OK JUNE 23, 5937 (In thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Oy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,836,904 434,425 3,375,522 502,2.38 691,197 280,837 237,068 1,718,325 283,373 197,138 270,025 186,058 660,698 Redemption fund — F.R. notes 10,241 600 1,650 394 666 464 1,523 324 1,206 697 387 470 1,860 Other cash 322,491 46,610 85,949 24,574 17,928 21,629 13,441 39,541 17,179 5,292 17,235 7,916 25,197 Total reserves 9,169,636 481,635 3,463,121 527,206 709,791 302„930 252,032 1,758,190 301,758 203,127 287,647 194,444 687,755 Bills discounted! Secured by U.S.Gov't obligations. direct or fully guaranteed 9,844 1,490 4,063 1,138 776644 886 554499 85 86 3344 75 116644 510 Other bills discounted 3,459 136 1,868 11 84 — 760 —— 78 33 131 256 102 Total bills discounted 13,303 1,626 5,931 1,149 848 886 1,309 85 164 67 206 420 612 Bills bought in open market 4,273 223 1,552 385 359 149 107 384 86 60 98 98 772 Industrial advances 22,012 33,,113344 55,,990088 3,979 922 2,029 211 913 325 784 629 1,258 1,920 U.S.Government securitiest Bonds 732,558 53,365 210,233 61,861 71,309 38,575 3322,,223344 80,726 32,298 23,828 35,992 28,601 63,516 Treasury notes 1,168,213 85,140 335,283 98,654 113,724 61,521 51,326 128,742 51,509 38,002 57,402 45,612 101,298 Treasury bills 625,469 45,584 179,513 52,821 60,889 32,938 27,481 68,930 27,578 20,346 30,733 24,421 54,235 Total U.S.Govt, securities 2,526,240 184,109 725,029 213,336 245,922 133,034 lll,04l 278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,565,828 189,092 738,420 218,849 248,051 136,098 112,668 279,780 111,960 83,087 125,060 100,410 222,353 Due from foreign banks 219 17 78 23 21 10 8 27 4 3 6 6 16 F.R. notes of other banks 23,108 354 5,924 1,005 1,726 2,008 1,522 2,427 1,754 1,533 1,610 415 2,830 Uncollected items 630,603 64,239 157,316 52,109 60,463 52,821 21,352 87,578 26,215 16,521 32,541 24,557 34,891 Bank premises 45,697 3,033 10,069 4,899 6,307 2,764 2,216 4,661 2,369 1,497 3,217 1,259 3,4o6 All other assets 40,758 2,440 11,673 5,077 4,395 2,570 1,583 3,716 1,524 1,439 1,793 1,566 2,982 TOTAL ASSETS 12,475,849 740,810 4,386,601 809,168 1,030,754 499,201 391,381 2,136,379 445,584 307,207 451,874 322,657 954,233 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JUNE 23, 1937 (In thousands of dollars) 3-801c 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 4,162,832 285,279 902,248 310,630 431,546 192,129 172,920 967,598 177,170 137,901 161,070 92,213 332,128 Deposits* Member bank — reserve account 6,854,411 336,340 3,023,153 378,241 454,279 219,065 168,597 981,771 214,648 134,529 237,207 174,636 531,945 U.S.Treasurer - General account 150,928 16,444 26,470 9,833 16,093 11,037 7,033 33,984 4,782 2,433 7,017 9,128 6,674 Foreign bank 166,963 11,902 62,779 15,978 15,000 7,011 5,707 18,913 4,891 3,750 4,728 4,728 11,576 Other deposits 156,553 2,255 92,477 9,180 20,884' 3,050 3,906 1,766 5,890 2,683 l40 3,401 10,921 Total deposits 7,328,855 366,941 3,204,879 413,232 506,256 240,163 185,243 1,036,434 230,211 143,395 249,092 191,893 561,116 Deferred availability items 634,198 64,441 157,496 51,582 60,916 51,859 20,480 87,525 27,660 16,517 31,688 27,427 36,607 Capital paid in 132,205 9,373 51,196 12,243 12,875 4,856 4,336 12,637 3,815 2,894 4,002 3,865 10,113 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 35,931 1,570 9,142 3,000 3,121 1,497 1,690 7,832 1,199 2,055 94l 1,847 2,037 All other liabilities 8,4s4 506 2,422 794 710 406 342 1,433 329 326 . 326 299 591 TOTAL LIABILITIES 12,475,849 740,810 4,386,601 809,168 1,030,754 499,201 391,381 2,136,379 445,584 307,207 451,874 322,657 954,233 Contingent liability on bills purchased for foreign correspondents 4,044 273 1,652 367 344 161 131 434 112 86 109 109 266 Commitments to make industrial advances 16,733 2,175 5,883 155 1,315 2,002 339 10 1,139 65 128 302 3,220 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 13,303 11,451 616 375 400 459 Bills bought 4,273 1,956 470 1,421 426 Industrial advances — 22,012 871 l4o 910 748 1,844 3,309 5,385 8,805 U.S.Government securities 2,526,240 34,710 35,063 78,920 132,266 219,008 481,721 247,497 615,368 681,687 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK JUNE 23, 1937 (in thousands of dollars) 3~801d Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy, Dallas San Fran. Federal Reserve notesI ' Issued to F.R.bank by F.R.agent 4,501,262 329 /52 1,013,053 327,337 457,915 203,678 191,120 995,202 187,042 142,992 172,279 100,211 380,481 Held by Federal Reserve bank 333,430 44,173 110,805 17,207 26,369 11,549 18,200 27,604 9,872 5,091 11,209 7,998 48,353 In actual circulation 4,162,832 285,279 902,248 310,630 431,546 192,129 172,920 967,598 177,170 137,901 161,070 92,213 332,128 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,542,632 336,000 1,020,000 335,000 459,500 205,000 173,000 IplO,000 189,632 144,000 174,000 102,500 389,000 Eligible paper 13,801 1,626 5,751 1,205 915 916 1,309 85 ll4 67 217 430 1,166 U. S. Gov't securities 20,000 — — — — 20,000 — — — -- — — Total collateral 4,576,433 337,626 1,025,751 336,205 460,415 205,916 199,309 ipiO,085 189,746 144,067 174,217 102,930 390,166 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis