H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Aug, 20; of the Federal Reserve System not earlier* August 19, 1937* CONDITION OF FEDERAL RESERVE BANKS During the week ended August IS member bank reserve balances increased |)63,000,000. Additions to member bank reserves arose from an increase of $><4,000,000 in Treasury currency and a decrease of $97,000,000 in Treasury deposits with Federal Reserve banks, offset in part by a decrease of #7,000,000 in Reserve bank credit and increases of $18,000,000 in money in circulation, $12,000,000 in nonmember deposits and other Federal Reserve accounts, and $2,000,000 in Treasury cash other than inactive gold. Excess reserves of member banks on August 18 were estimated to be approximately #780,000,000, an increase of #40,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to #1,296,000,000 on August 18, an increase of #31,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 18, 1937, were as follows: Increase or decrease since Aug. 18 Aug. 11 Aug. 19 1937 1937 1936 (In millions of dollars) Bills discounted 18 +1 +12 Bills bought 3 — — — _ U. S. Government securities 22,,552266 — — +96 Industrial advances (not including 15 million commitments - August 18) 21 «•— mm -8 Other Reserve bank credit -3 -8 +8 Total Reserve bank credit 2,565 -7 +108 Gold stock 12,527 +30 +1,849 Treasury currency 2,577 U +78 Member bank reserve balances 6,744 +63 +515 Money in circulation 6,500 +18 +316 Treasury cash 3,672. +32 +1,262 Treasury deposits with F. R. banks 156 -97 -59 Nonmember deposits and other F. R f accounts 598 +12 +1 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 20,1937; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Aug. 18, 1937 Aug. 11, 1937 Aug. 19,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 8,831,946 8,832,398 8,255,038 Redemption fund - F. R. notes . . .. 10,122 10,78A 13,070 Other cash 303,051 306.903 282,4-33 Total reserves 9,145,119 9,150,085 8,550,5-41 Bills discountedI Secured by U.S.Gov't obligations, direct or fully guaranteed . . .. 13,755 11,674 3,405 Other bills discounted . 4,533 5,023 3,072 Total bills discounted 18,288 16,697 6,477 Bills bought in open market 3>073 3,072 3,094 Industrial advances 21,007 21,043 28,662 U. S. Government securities» Bonds 732,508 732,508 324,721 Treasury notes 1,157,713 1,157,713 1,496,719 Treasury bills 635,969 ' 635,969 608,787 Total U.S. Government securities . 2,526,190 2,526,190 2,430,227 Ottter securities 181 Total bills and securities . . .. 2,568,558 2,567,002 2,468,641 Due from foreign banks 227 227 219 F. R. notes of other banks 25,444 25,686 21,540 Uncollected items 643,160 582,630 589,851 Bank premises . 45,501 45,502 48,054 All other assets 43,966 43,520 43,644 TOTAL ASSETS 12,471,975 12,4l4,652 11,722,490 L I A B I L I T I ES F. R. notes in actual circulation . . 4,238,391 4,228,043 3,988,055 Deposits« Member bank - reserve account . . . 6,743,874 6,681,124 6,228,518 U.S.Treasurer- General account .. 155,689 252,690 215,424 Foreign bank . . . .. 199,602 193,493 90,126 Other deposits , l4o,513 133,626 251,437 Total deposits 7,239,678 7,260,933 6,785,505 Deferred availability items 646,593 578,259 601,610 Capital paid in 132,533 132,530 130,169 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 27,088 Reserve for contingencies 35,838 35,871 34,236 All other liabilities . . . . . . .. 5,598 5,672 10,326 TOTAL LIABILITIES 12,471,975 12,4l4,652 11,722,490 Ratio of total reserves to deposit and F. R. note liabilities combined . . 79,7% 79,6% 79. A% Contingent liability on bills purchased for foreign correspondents 2,478 2,780 - t- •t Commitments to make industrial advances 15,249 15,30A 23,271 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 18, 1937 (in thousands of dollars) B-SOlb A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 8,831,946 439,432 3,278,462 509,842 713,023 282,086 234,811 1,729,196 272,452 195,241 297,132 184,877 695,392 Redemption fund - F.R. notes 10,122 413 1,743 506 762 922 1,253 374 1,090 640 285 400 1,734 Other cash 303,051 33,632 77,269 23,186 17,270 17,982 13,515 42,008 14,624 6,119 16,687 13,746 27,013 Total reserves 9,145,119 473,477 3,357,474 533,534 731,055 300,990 249,579 1,771,578 288,166 202,000 314,104 199,023 724,139 Bills discounted« Secured by U.S.Gov't obligal .ViiD f direct or fully guaranteed 13,755 3,370 5,514 690 44l 695 862 40 301 345 48 849 600 Other bills discounted 4,533 35 2,489 50 46 32.5 588 95 56 128 607 114 Total bills discounted 18,288 3,405 8,003 740 487 1,020 1,450 40 396 401 176 1,456 714 Bills bought in open market 3,073 224 1,086 318 293 120 107 384 86 60 87 87 221 Industrial advances 21,007 2,955 5,486 3,847 830 1,962 187 814 298 74 5 602 1,194 2,087 U.S.Government securities: 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 33.2,270 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.Gov't securities 2,526,190 184,109 725,029 213,336 245,922. 133,034 110,991 278,398 111,385 82,176 ^24,127 98,634 219,049 Total bills and securities 2,568,558 190,693 739,604 218,241 247,532 136,136 112,735 279,636 112,165 83,382 124,992 101,371 222,071 Due from foreign banks 227 16 91 22 20 9 8 26 4 3 6 6 16 F. R. notes of other banks 25,444 579 5,093 961 1,205 1,330 1,710 3,009 2,300 1,198 2,093 353 5,613 Uncollected items 643,160 64,852 157,630 53,368 61,945 54,986 21,2.83 88,733 26,815 18,474 36,929 27,421 30,724 Bank premises 45,501 3,024 10,038 4,878 6,280 2,746 4,640 2,360 1,493 3,190 1,251 3,389 All other assets 43,966 2,695 12,443 5,121 4,754 2,756 1,716 4,135 1,709 1,590 1,997 1,743 3,307 TOTAL ASSETS 12,471,975 735,336 4,282,373 816,125 1,052,791 498,953 389,243 2,151,757 433,519 308,l4o 483,311 331,168 989,259 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 18., 1%T7, (In thousands of dollars) B-801c LI AB I LI T I ES Total Boston New York Phila. CIeve. Rich. Atlanta * F.R.notes in actual circulation 4,238,391 286,734 939,160 315,310 435,815 194,840 170,206 Deposits» Member bank - reserve account 6,743,874 335,288 2,878,992 373,087 462,980 216,136 171,293 986,936 195,536 131,245 256,024 175,357 561,000 U.S.Treasurer - General account 155,689 7,426 39,950 13,811 21,165 7,943 4,084 30,289 5,836 4,195 6,737 11,027 3,226 Foreign bank 199,602 14,198 75,318 19,061 17,894 8,363 6,807 22,562 5,835 4,473 5,641 5,64l 13,809 Other deposits 140,513 3,192 76,042 9,283 20,712 3,251 2,843 1,253 6,4 53 2,250 145 4,026 11,063 Total deposits 7,239,678 360,104 3,070,302 415,242 522,751 235,693 185,027 1,041,040 213,660 142,163 268,547 196,051 589,098 Deferred availability items 646,593 64,496 152,390 52,198 62,395 53,566 21,328 ,90,791 29,2.40 18,645 37,547 31,407 32,590 Capital paid in 132,533 9,365 51,074 12,257 12,929 4,873 4,350 12,856 3,839 2,892 4,048 3,873 10,177 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 1,416 545 1,003 1,142 1,262 1,996 Reserve for contingencies 35,838 1,570 9,117 3,000 3,121 1,497 1,691 7,777 1,199 2,041 941 1,847 2,037 All other liabilities 5,598 367 1,112 431 450 193 271 1,268 277 290 200 197 542 TOTAL LIABILITIES 12,471,975 735,336 4,282,373 816,125 1,052,791 498,953 389,243 2,151,757 433,519 308,l4o 483,311 331,168 989,259 Contingent liability on bills purchased for foreign correspondents 2,478 181 895 243 228 106 87 287 74 57 72 72 176 Commitments to make industrial advances 15,249 1,962 5,349 152 937 1,938 314 10 1,039 53 122 302 3,071 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 6l 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 18,288 16,083 397 920 666 219 Bills bought 3,073 1,286 90 1,555 142 Industrial advances 21,007 783 426 691 445 2,214 3,238 5,712 7,498 U.S.Government securities 2,526,190 20,246 104,170 65,661 58,034 309,058 426,969 236,997 623,368 681,687 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON AUGUST 18, 1937 (in thousands of dollars) B~801d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. Federal Reserve notest Issued to F.R.bank by F.R.agent 4,554,501 329,799 1,036,700 332,654 464,4-73 205,252 188,348 1,000,142 188,894 142,908 178,080 99,643 387,608 Held by Federal Reserve bank 316,110 43,065 97,540 17,344 28,658 10,412 18,142 25,037 8,790 4,918 10,807 6,963 44,434 In actual circulation 4,238,391 286,734 939,160 315,310 435,815 194,S4o 170,206 975,105 160,104 137,990 167,273 92,680 343,174 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. 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 17,907 3,405 7,783 690 487 1,019 1,410 40 326 401 176 1,456 714 U. S. Gov't securities 20,000 20,000 w Total collateral 4,631,539 339,405 1,047,783 337,690 467,987 206,019 192,410 1,020,040 190,958 145,401 180,176 103,956 399,714 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis