H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT FOR TtiE PRESS Released for publication Board of Governors Friday morning, Sept. 3 J of the Federal Reserve System not earlier. September 2, 1937 ' CONDITION OF FEDERAL RESERVE BANKS During the week ended September 1 member bank reserve balances increased $1,000,000. Additions to member bank reserves arose from increases of $14,000,000 in Reserve bank credit and $8,000,000 in Treasury currency and from decreases of $21,000,000 in nonmember deposits and other Federal Reserve accounts and $5,000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of $37,000,000. in money in circulation and $11,000,000 in Treasury cash other than inactive gold. Excess reserves of member banks on September 1 were estimated to be approximately $750,000,000, a decrease of $10,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,335,000,000 on September 1, an increase of $25,000,000 for the week. The principal change in holdings of bills and securities was an increase of $5,000,000 in discounted bills. Changes in member bank reserve balances and related items during the week and the year ended September 1, 1937, were as follows! Increase or decrease since Sept. 1 Aug. 25 Sept. 2 1937 1937 1936 (in millions of dollars) Bills discounted 24 +5 +15 Bills bought 3 _ _ U. S. Government securities 22,,552266 +96 — Industrial advances (not including 15 million commitments - September 1) 21 -8 — Other Reserve bank credit 5 +9 +13 Total Reserve bank credit 2,579 +14 +116 Gold stock 12,567 +26 +1,850 Treasury currency 2,585 +8 +83 Member bank reserve balances 6,731 +1 +290 Money in circulation 6,532 +37 +307 Treasury cash 3,719 +36 +1,344 Treasury deposits with F. R. banks 156 -5 +49 Nonmember deposits and other F. R. accounts '593 -21 +58 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, September 3, "1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 1, 1937 Aug. 25,1937 Sept. 2.1936 A S S E TS Qold certificates on hand and due from U. S. Treasury 8,831,389 8,831,948 8,334,034 Redemption fund - F. R. notes 8,949 9,423 12,625 Other cash 294,237 308,865 268,885 Total reserves 9,134,575 9,150,236 8,615,544 Bills discountedj Secured by U.S.Gov't obligations,direct or fully guaranteed . 12,915 11,312 4,561 Other bills discounted 10,811 7,391 4,04l Total bills discounted 23,726 18,703 8,602 Bills bought in open market 3,076 3,077 3,095 Industrial advances 20,785 20,929 2.8,522 U. S. Government securitiesJ Bonds 738,073 737,073 324,721 Treasury notes 1,157,713 1,157,713 1,496,719 Treasury bills 630,4o4 631,4o4 608,787 Total U.S.Government securities . . . 2,526,190 2,526,190 2,430,227 Other securities ~ 181 Total bills and securities 2,573,777 2,568,899 2,470,627 Due from foreign banks 221 220 220 F. R. notes of other banks 27,785 24,200 25,346 Uncollected items . 625,356 580,791 544,120 Bank premises 45,423 45,479 48,056 All other assets 45,515 44,726 44,581 TOTAL ASSETS 12,452,652 12,414,551 11,748,494 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,260,604 4,234,680 4,020,920 Deposits I Member bank - reserve account .... 6,731,214 6,729,546 6,440,622 U.S.Treasurer - General account . . . 156,264 160,885 107,236 Foreign bank 189,657 200,205 50,267 Other deposits 146,887 156,059 229,285 Total deposits 7,224,022 7,246,695 6,827,410 Deferred availability items 620,482 584,978 552,398 Capital paid in . 132,594 132,531 130,163 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 27,088 Reserve for contingencies 35,839 35,838 34,236 All other liabilities 5,767 6,485 10,778 TOTAL LIABILITIES 12,452,652 12,4l4,551 11,748,494 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 79.5% 79,7% 79.4$ Contingent liability on bills purchased for foreign correspondents 1,873 1,932 Commitments to make industrial advances 15,4o4 15,179 23,699 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis