H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released for publication Board of Governors Friday morning, Aug. 13; of the Federal Reserve System not earlier* August 12, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended August 11 member bank reserve balances increased §4-5,000,000. Additions to member bank reserves arose from a decrease of $56,000,000 in Treasury deposits with Federal Reserve banks and an increase of $11,000,000 in Reserve bank credit, offset in part by increases of $14,000,000 in money in circulation and $8,000,000 in nonmember deposits and otherFederal Reserve accounts. Excess reserves on ^August 11 were estimated to be approximately $740,000,000, an increase of $40,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,265,000,000 on August 11, an increase of $34,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 11, 1937, were as follows t Increase or decrease since Aug. 11 Aug. 4 Aug. 12 1937 1937 1936 (In millions of dollars) Bills discounted 17 +2 +9 Bills bought 3 U. S. Government securities 2,526 4-96 Industrial advances (not including 15 million commitments - August 11) 21 -8 Other Reserve bank credit 5 +9 -2 Total Reserve bank credit 2,572 +11 +95 Gold stock 12,497 +35 +1,836 Treasury currency 2,573 +1 +75 Member bank reserve balances 6,681 +45 +565 Money in circulation 6,482 +14- +312 Treasury cash 3,640 +35 +1,219 Treasury deposits with F. R. banks 253 -56 -85 Nonmember deposits and other F*R. accounts 586 +8 -6 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 13,1937; not earlier, B-801a ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Aug. 11, 1937 Aug. 4, 1937 Aug. 12, 1936 A S S E TS Gold certificates on hand and due fron U. S. Treasury 8,832,398 8,833,399 8,225,038 Redemption fund r? F. R. notes . . .. 10,784- 9,784 13,720 Other cash 306,903 312,308 289,980 Total reserves 9,150,085 9,155,4-91 8,528,738 Bills discounted l Secured by U.S.Gov't obligations,direct or fully guaranteed . 11,674 10,026 5,552 Other bills discounted 5,023 5,377 2,311 Total bills discounted . . . .. 16,697 15,403 7,863 Bills bought in open market 3,072 3,078 3,094 Industrial advances , 21,043 21,082 28,782 U. S. Government securities* Bonds 732,508 732,508 324,721 Treasury notes 1,157,713 1,157,713 1,496,719 608,787 Treasury bills 635,969 635,969 2,430,227 Total U.S«Government securities . 2,526,190 2,526,190 181 Other securities Total bills and securities . . . 2,567,002 2,565,753 2,470,147 Due fron foreign banks 2.27 222 219 F. R. notes of other banks 25,686 28,198 23,348 Uncollected itens 582,630 601,649 598,183 Bank premises 45,502 45,500 48,055 All other assets 43,520 42,692 44,152 TOTAL ASSETS 12,4l4,652 12,439,505 11,712,842 L I A B I L I T I ES F. R. notes in actual circulation . . 4,228,043 4,222,016 3,983,473 Deposits: Member bank - reserve account . . . 6,681,124 6,635,764 6,116,084 U.S.Treasurer - General account . . 252,690 308,778 338,062 Foreign bank 193,493 195,093 86,438 Other deposits 133,626 124,926 250,309 Total deposits 7,260,933 7,264,561 6,790,893 Deferred availability itens 578,259 606,265 591,154 Capital paid in 132,530 132,442 130,177 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 26,513 Reserve for contingencies 35,871 35,873 34.141 All other liabilities 5,672 5,004 10^990 TOTAL LIABILITIES . . .. 12.,4l4,652 12,4-39,505 11,712,842 Ratio of total reserves to deposit and F. R. note liabilities combined . . 79.6% 19.1% 79.2$ Contingent liability on bills purchased for foreign correspondents . . .. 2,780 2,917 Comnitnents to nake industrial advances 15,304 15,366 23,39A Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 11, 1937 (in thousands of dollars) B-801b A S S E TS Total Boston New York Phila. Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury- 8,832,398 -447,103 3,264,940 513,289 710,351 287,229 235,080 1,732,085 275,474 198,024 296,364 183,056 689,403 Redemption fund - F.R. notes 10,784 456 1-, 950 604 846 920 1-, 314- 4"6'4 1", 112 652 3—0 1 413 -1, "7"5"0 Other cash 306,903 36,000 77,729 22,916 Total reserves 9,150,085 483,559 3,344,619 536,809 725,984 305,715 249,432 1,778,025 291,237 .204,695 312,802 197,166 720,042 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 11,674 1,925 5,215 774 456 680 724 40 244 393 79 443344 710 Other bills discounted 5,023 41 2,805 50 46 300 701 28 125 57 115 556 199 Total bills discounted 16,697 1,966 8,020 824 502 980 1,425 68 369 450 194 990 909 Bills bought in open market 3,072 224 1,084 319 293 120 107 384 86 60 87 87 221 Industrial advances 2211,,004433 22,,994477 55,,449955 33,,8844ll 833 11,,998844 188 816 304 747 600 1,201 2,087 U. S.Government securities s Bonds 732,508 53,385 210,233 61,861 71,309 38,575 32,184 80,726 32,298 23,828 35,992 28,601 63,516 Treasury notes 1,157,713 84,375 332,270 97,767 112,702 60,968 50,865 127,585 51,046 37,660 56,886 45,202 100,387 Treasury bills 635,969 46,349 182,526 53,708 61,911 33,491 27,942 70,087 28,041 20,688 31,249 24,831 55,146 Total U.S.Govt, securities 2,526,190 184,109 725,029 213,336 245,922 133,034 110,991 278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,567,002 189,246 739,628 218,320 247,550 136,118 112,711 279,666 112,144 83,433 125,008 100,912 222,266 Due from foreign banks 227 16 91 22 20 9 8 26 4 3 6 6 16 F. R. notes of other banks 25,686 373 5,401 977 1,613 1,399 1,584 2,590 2,416 1,819 1,627 392 5,495 Uncollected items 582,630 63,115 137,841 44,0.21 56,504 48,732 19,791 78,036 25,622 17,879 36,688 24,286 30,115 Bank premises 45,502 3,024 10,038 4,878 6,280 2,746 2,212 4,640 2,361 1,493 3,190 1,251 3,389 All other assets 43,520 2,656 12,485 5,081 4,676 2,760 1,684 4,062 1,678 1,562 1,915 1,709 3,252 TOTAL ASSETS 12,414,652 741,989 4,250,103 810,108 1,042,627 497,479 387,422 2,147,045 435,462 310,884 481,236 325,722 984,575 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS OH AUGUST 11, 1937 (in thousands of dollars) B-SClc L I A B I L I T I ES Total Boston IIew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Dc as San Fran. F.R. notes in actual circulation 4,228,0-43 286,529 930,674 315,214 440,513 194,360 170,905 971,762 179,839 137,679 167,448 92,379 34o,74l Deposits j Member bank - reserve account 6,681,124 340,021 2,836,373 375,643 456,961 213,459 171,724 971,504 198,009 135,987 253,630 173,651 554,162 U.S.Treasurer - General account 25?,690 11,696 90,156 13,407 20,437 15,059 3,486 56^)89 7,792 4,223 7,777 12,307 10,261 Foreign bank 193,493 14,198 69,209 19,061 17,894 8,363 6,807 22,562 5,835 4,473 ,641 5,64l 13,809 Other deposits 133,626 3,257 68,463 ,640 20,727 3,371 2,803 1 6,593 2,347 99 4,337 10,420 Total deposits 7,260,933 369,172 3,064,201 417,751 516,019 240,252 184,820 1,051,724 213,229 147,030 267,147 195,936 588,652 Deferred availability items 578,259 62,320 134,730 43,767 54,261 47,999 19,011 78,614 26,372 16,811 36,710 26,345 30,819 Capital paid in 132,530 9,364 51,090 12,259 12,922 4,865 4,347 12,851 3,837 2,893 4,050 3,879 10,173 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 35,871 1,570 9,117 3,000 3,121 1,497 1,690 7,805 1,199 2,048 941 1,846 2,037 All other liabilities 5,672 334 1,073 430 461 215 279 1,369 286 304 185 224 512 TOTAL LIABILITIES 12,414,652 741,989 4,250,103 810,108 1,042,627' 497,479 387,422 2,147,045 435,462 310,884 481,236 325,722. 984,575 for foreign correspondents 2,780 203 1,003 272 256 120 97 323 83 64 81 81 197 Commitments to make industrial advances 15,304 1,971 5,368 164 937 1,941 314 10 1,039 53 122 302 3,083 MATURITY DISTRIBUTION OF BILLS Ai3; 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 16,697 14,237 426 829 945 259 1 __ Bills bought 3,072 238 178 89 2,567 Industrial advances 21,043 636 53 4 672 446 2,251 3,226 5,710 7,568 — — U.S.Government securities 2,526,190 29,447 30,546 :1 38,834 56,472. 306,787 422,052 236,997 623,368 681,687 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON AUGUST 11, 1937 (in thousands of dollars) B-801d Total Boston He* York Rhila. Cleve. Rich. Atlanta Chicago St »Loui s Minn • Kan s • Cy. D cilj_ as S oil Fr an 9 Federal Reserve notes: Issued to F.R.bank by F.R.agent 4,544,44-5 329,351 1,031,388 332,507 464,299 205,130 189,312 998,606 188,074 142,438 177,660 100,040 385,640 Held by Federal Reserve bank 316,402 42,822 100,714 17,293 23,786 10,770 18,407 26,844 8,235 4,759 10,212 7,661 44,899 In actual circulation 4,228,043 286,529 930,674 315,214 440,513 194,360 170,905 971,762 179,839 137,679 167,448 92,379 340,741 Collateral held by agent as security for notes issued to bank! Gold certificates on hand and due from IL S. Treasury 4,593,632 336,000 1,040,000 337,000 467,500 205,000 171,000 1,020,000 190,632 145,000 180,000 102,500 399,000 Eligible paper 16,117 1,966 7,643 774 502 980 1,385 68 270 450 194 97b 909 U. S. Gov't securities 20,000 20,000 - - - Total collateral 4,629,749 337,966 1,047,643 337,774 468,002 205,980 192,385 1,020,068 190,902 145,450 180,194 103,476 399,909 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis