H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Aug. 27; of the Federal Reserve System not earlier. August 26, 1937* CONDITION OF FEDERAL RESERVE BANKS During the week ended August 25 member bank reserve balances decreased 0l4 OOO OOO. The reduction in member bank reserves resulted from increases of ? 5 016,000 ,000 in nonmember deposits and other Federal Reserve accounts and $5,000,000 in Treasury deposits with the Federal Reserve banks, offset in part by decreases of -$5,000,000 in money in circulation and 03,000,000 in Treasury cash other than inactive gold. Excess reserves of member banks on August 25 were estimated to be approximately $760,000,000, a decrease of 020,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,310,000,000 on August 25, an increase of $14,000,000 for the week. The principal changes of holdings in bills and securities were an increase of 05,000,000 in United States bonds and a decrease of $5,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended August 25, 1937, were as follows i Increase or decrease since Aug. 25 Aug. 18 Aug. 26 1937 1937 1936 (In millions of dollars) Bills discounted 19 +1 +12 Bills bought 3 ~ — U. S. Governnent securities 2,526 — —i ++9966 Industrial advances (not including 15 nillion connitnents - August 25) 21 — — -8 Other Reserve bank credit -4 -1 Total Reserve bank credit 2,565 —. M +100 Gold stock 12,541 +1-4 +1,846 Treasury currency 2,577 — +76 Member bank reserve balances 6,730 -14 +398 Money in circulation 6,495 -5 +311 Treasury cash 3,683 +11 +1,273 Treasury deposits i-dth F. R. banks 161 +5 +18 Nonmember deposits .and other F. R. accounts 6l4 +16 +22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, August 27, 1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Aug. 25. 1937 Aug. 18. 1937 Aug. 26,1936 A S S E TS Qold certificates on hand and due from U. S. Treasury 8,831,948 8,831,946 8,274,032 Redemption fund - F. R. notes . . .. 9,4-23 10,122 14,070 Other cash 308,86$ 303*051 282,936 Total reserves 9,150,236 9,145,119 8,571,038 Bills discountedi Secured by U.S.Gov't obligations,direct or fully guaranteed 11,312 13,755 3,638 Other bills discounted 7,391 4,533 3.600 Total bills discounted 18,703 18,288 7,238 Bills bought in open market 3,077 3,073 3,095 Industrial advances 20,929 21,007 28,554 TJ. S. Government securities! Bonds 737,073 732,508 324,721 Treasury notes 1,157,713 1,157,713 1,496,719 Treasury bills 631,4o4 635,969 608,787 Total U.S. Government securities . 2,526,190 2,526,190 2,430,227 Other securities 181 Tot.al bills and securities . . .. 2,568,899 2,568,558 2,469,295 Due from foreign banks 220 227 219 F. R. notes of other banks 24,200 25,444- 25,093 Uncollected items 580,791 643,160 528,322 Bank premises 45,479 45,501 48,055 All other assets 44,726 43,966 43,586 TOTAL ASSETS 12,414,551 12,471,975 11,685,608 L I A B I L I T I ES F. R. notes in actual circulation . . 4,234,680 4,2.38,391 3,993,664 Deposits* Member bank - reserve account . . .. 6,729,546 6,743,874 6,331,502 U.S.Treasurer - General account . . . 160,885 155,689 143,424 Foreign bank 200,205 199,602 98,174 Other deposits 156,059 140,513 238,258 Total deposits 7,246,695 7,239,678 6,811,358 Deferred availability items 584,978 646,593 532,971 Capital paid in 132,531 132,533 130,170 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 27,088 Reserve for contingencies 35,838 35,838 34,235 All other liabilities 6,485 5,598 10.621 TOTAL LIABILITIES 12,414,551 12,471,975 11,685,608 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 79.7% 79.7% 79.3% Contingent liability on bills purchased for foreign correspondents 1,932 2,478 Commitments to make industrial advances 15,179 15,249 23,355 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON AUGUST 25,1 937 (in thousands of dollars) 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 8,831,948 434,691 3,289,867 495,867 721,785 292,881 236,392 1,729,778 271,432 192,791 296,011 180,655 689,798 Redemption fund - F.R. notes 9,423 396 1,555 453 686 909 1,182 271 1,053 570 268 384 1,696 Other cash 308,865 32,727 76,445 22,194 15,490 18,992 15,685 44,826 15,199 6,502.17,455 13,529 29,821 Total reserves 9,150,236 467,814 3,367,867 518,514 737,961 312,782 253,259 1,774,875 287,684 199,863 313,734 194,568 721,315 Bills discountedi Secured by U.S.Gov't obligations, ,direct or fully guaranteed 11,312 205 6,406 950 421 780 448 80 34l 410 58 770 443 mother bills discounted 7,391 148 5,238 50 44 248 687 - - 95 55 112 605 109 Total bills discounted 18,703 353 11,644 1,000 465 1,028 1,135 80 436 465 170 1,375 552 Bills bought in open market 3,077 224 1,092 318 293 120 108 384 86 60 87 87 218 Industrial advances 20,929 2,955 5,422 3,842 830 1,951 187 8l4 298 744 600 1,194 2,092 U.S.Government securities: Bonds 737,073 53,717 211,543 62,247 71,754 38,815 32,385 81,229 32,499 2.3,977 36,216 28,779 63,912 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 1:0 0,387 Treasury bills 631,404 46,017 181,216 53,322 61,466 33,251 27,741 69,584 27,840 20,539 31,025 24,653 54,750 Total U.S.Govt, securitieis 2£26,190 1;8 4,109 725,029 213,336 245,922 133,034 110,991 278,398 1;1 1,385 82,176 124,127 98,634 2,1 9,049 Total bills and securities 2,568,899 ;:8 7,64l 743,187 218,496 247,510 136,133 112,421 279,676 1:1 2,205 83,445 124,984 101,290 221,911 Due from foreign banks 220 16 84 22 20 9 8 26 4 3 6 6 16 F. R. notes of other banks 24,200 583 6,020 968 1,670 1,324 2,070 3,551 1,733 1,271 1,715 478 2,817 Uncollected items 580,791 56,841 135,034 45,279 60,722 49,915 19,025 76,432 25,427 17,774 29,891 33,723 30,728 Bank premises 45,479 3,024 10,038 4,867 6,280 2,746 2,209 4,640 2,360 1,493 3,190 1,251 3,381 All other assets 44,726 2,748 12,739 5,155 4,828 2,819 1,745 4,203 1,744 1,593 2,036 1,747 3,369 TOTAL ASSETS 12,414,551 718,667 4,274,969 793,301 1,058,991 505,728 390,737 2,143,403 431,157 305,442 475,556 333,063 983,537 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON AUGUST 25, 1937 (In thousands of dollars) L I A B I L I TI Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.H.notes in actual circulation 4,234,680 286,30-4 936,444 315,478 440,728 196,f 70 168,195 974,716 179,082 137,919 166,744 92,166 340,434 Deposits t Member bank - reserve account 6,729,546 327,595 2,890,900 363,351 458,497 220,440 174,992 985,703 197,655 130,506 254,241 177,925 547,741 U.S.Treasurer - General account 160,885 6,242 31,858 7,448 28,311 12,983 5,068 34,663 4,595 3,167 8,262 6,564 11,724 Foreign bank ,200,205 14,622. 72,216 19,629 18,427 8,612 7,010 2.3,234 6,009 4,607 5,809 5,809 14,221 Other deposits 156,059 2,988 89,672 9,334 20,925 3,125 4,311 1,824 6,308 2,394 234 3,927 11,017 Total deposits 7,246,695 351,447 3,084,646 399,762 526,160 245,160 191,381 1,045,424 214,567 140,674 268,546 194,225 584,703 Deferred availability items 584,978 56,853 133,178 44,619 60,190 49,203 18,452 78,305 26,972 17,411 30,280 35,567 33,. Capital paid in 132,531 9,367 51,072 12,258 12,931 4,874 4,350 12,854 3,843 2,892 4,050 3,875 10,165 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,869 5,616 21,504 4,6 55 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 2,04l 941 1,847 2,037 All other liabilities 6,485 426 1,294 497 531 233 298 1,407 294 386 240 270 609 TOTAL LIABILITIES 12,4l4,551 718,667 4,274,969 793,301 1,058,991 505,728 390,737 2,143,403 431,157 305,442 475,556 333,063 983,537 Contingent liability on bills purchased for foreign correspondents 1,932 l4l 697 189 178 83 68 22.4 58 45 56 56 137 Commitments to make industrial advances 15,179 1,959 5,338 152 935 1,891 313 10 1,039 54 122 302 3,064 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 18,703 16,546 362 914 742 137 Bills bought 3,077 569 1,333 391 784 Industrial advances 20,929 936 224 649 564 2,231 3,135 5,785 7,405 U.S.Government securities 2,526,190 28,546 106,880 54,736 59,729 300,018 429,664 236,997 623,367 S86,253 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c ASSETS AND FEDERAL RESERVE NOTE STATEMENT Oil AUGUST 25, 1937 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes I Issued to F.R.bank by F.R.agent 4,560,971 327,069 1,037,314 334,014 465,346 206,044 186,492 1,005,739 188,546 143,726 177,636 101,349 386,696 H<sld by Federal Reserve bank 326,291 40,765 101,370 18,536 24,618 9,574 18,297 31,023 9,464 5,807 10,892 9,683 46,262 In actual circulation 4,234,680 286,304 936,444 315,478 440,72,8 196,470 168,195 974,716 179,082 137,919 166,744 92,166 340,434 Collateral held by agent as security for notes issued to banki Gold certificates on hand and due £xom U. S. Treasury 4,594,632 336,000 1,040,000 337,000 467,500 206,000 171,000 1,020,000 190,632 145,000 180,000 102,500 399,000 Eligible paper 18,277 353 11,387 950 465 1,028 1,095 80 360 465 170 1,375 549 U. S. Gov't securities 20,000 - - - - -- -- - - 20,000 Total collateral 4,632,909 336,353 1,051,387 337,950 467,965 207,028 192,095 1,020,080 190,992 145,465 180,170 103,875 399,549 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis