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, Sept, 2AJ of the Federal Reserve System not earlier. September 23, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 22 member bank reserve balances increased $112,000,000. Additions to member bank reserves arose from decreases of #25,000,000 in money in circulation and $155,000,000 in Treasury deposits with Federal. Reserve banks and an increase of |3,000,000 in Treasury currency, offset in part by an increase of $4-9,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of 020,000,000 in Reserve bank credit. Excess reserves of member banks on September 22 were estimated to be approximately $1,020,000,000, an increase of $140,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,162,000,000 on September 22, an increase of $4-2,000,000 for the week. Changes in member bank reserve balances and related items during the week and £he y ear ended September 22, 1937, were as follows t Increase or decrease since Sept. 22 Sept. 15 Sept. 23 1937 1937 1936 (in millions of dollars) Bills discounted 24 +1 +17 Bills bought 3 _ — — — U. S. Government securities 22,,552266 — — +96 Industrial advances (not including 15 million commitments - September 22 21 _ - -8 Other Reserve bank credit 3 -22 -1 Total Reserve bank credit 2,578 -20 +105 Gold stock 12,694 +43 +1,908 Treasury currency 2,593 +3 +84 Member bank reserve balances 6,977 +112 +752 Money in circulation 6,529 -25 +290 Treasury cash 3,537 +42 +1,138 Treasury deposits with F. R. banks 193 -155 -195 Nonmember deposits and other F. R. accounts 628 +49 +110 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, September 2.4, 1937? not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Sept, 22, 1937 Sept, 15,1937 Sept. 23,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury . . .. 9,129,890 9,129,890 8,384,679 Redemption fund - F. R. notes . . .. 8,663 9,192 12,850 Other cash . 308,416 296,320 267,059 Total reserves . . . ' . . . . . .. 9,446,969 9,435,402 8,664,588 Bills discounted! Secured by U.S.Gov't obligations , direct or fully guaranteed 13,356 13,151 3,226 Other bills discounted . . 10,839 10,047 3,805 Total bills discounted . 24,195 23,198 7,031 Bills bought in open market 3,026 3,067 3,098 Industrial advances . , 2200,,660011 20,603 28,550 U. S. Government securities! Bonds 738,073 738,073 378,077 Treasury notes 1,157,713 1,157,713 1,443,363 Treasury bills 630,404 630.404 608.787 Total U. S. Government securities . 2,526,190 2,526,190 2,430,227 Total bills and securities . . .. 2,574,012 2,573,058 2,468,906 Due from foreign banks 190 231 217 F.R. notes of other banks 27,419 29,143 27,293 693,328 859,544 578,531 Bank premises 45,417 45,428 48,059 All other assets ... 37,292 36,704 38,420 TOTAL ASSETS 12,824,627 12,979,510 11,826,014 L I A B I L I T I ES F. R. notes in actual circulation . . 44,,225533,,115566 44,,227711,,331133 44,,003333,,884499 Depositsi Member bank - reserve account , . . 6,977,186 6,864,732 6,224,640 U.S.Treasurer - General account . . 193,490 347,686 388,351 Foreign bank 237,332 199,837 64,862 Other deposits 124,734 312,978 190,268 Total deposits . . . . . . .. 7,532,742 7,52.5,233 6,868,121 Deferred availability items . ... 690,025 834,534 574,758 Capital paid in 132,605 132,590 130,163 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 27,088 Reserve for contingencies 35,803 35,803 34,241 All other liabilities . 6,952 6,693 12,293 TOTAL LIABILITIES 12,824,627 12,979,510 11,826,014 Ratio of total reserves to deposit and F. R. note liabilities combined . . 80.2$ 80.0% 79.5$ Contingent liability on bills purchased for foreign correspondents . . .. 1,543 1,579 — — Commitments to make industrial advances 14,970 15,021 23,397 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283~b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 22, 1937 (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 9,129,890 45,2,897 3,561,454 499,119 710,322 295,463 232,014 1,731,462 277,034 195,032. 293,323 188,230 693,54) Redemption fund - F.R. notes 8,663 295 1,035 244 939 456 1,502 518 991 543 214 343 1,583 Other cash 308,4l6 28,173 77,695 22,854 17,094 19,004 15,013 44,213 15,854 7,348 19,862 13,312 27,994 Total reserves 9,446,969 481,365 3,640,184 522,217 728,355 314,923 248,529 1,776,193 293,879 202,923 313,399 201,885 723,117 Bills discountedt Secured by U P.Gov't obligaU J-UIlSj c direct or fully guaranteed 13,356 785 6,782 676 758 338 463 1,710 436 410 318 165 515 Other bills discounted 10,839 725 8,432 10 55 220 491 55 88 248 2.18 297 Total bills discounted 24,195 1,510 ' 15,214 686 813 558 954 1,710 491 498 566 303 812 Bills bought in open market 3,026 220 1,075 313 288 117 106 378 85 59 85 85 215 Industrial advances 20,601 2,993 5,379 3,733 820 1,923 175 807 250 719 579 1,162 2,061 U. S. Government securities? Bonds 738,073 53,791 211,831 62,330 71,850 38,868 32,428 81,340 32,543 24,009 36,266 28,818 63,999 Treasury notes 1,157,713 84j374 332,269 97,768 112,703 60,968 50,866 127,584 51,046 37,661 56,885 45,202 100,387 Treasury bills 630,4o4 45,944 180,929 53,238 61,369 33,198 27,697 69,474 27,796 20,506 30,976 24,614 54,663 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 2,574,012 188,832 746,697 218,068 247,843 135,632 112,226 281,293 112,211 83,452 125,357 100,264 222,137 Due from foreign banks 190 l4 72 19 17 8 7 23 3 2 6 6 13 F. R. notes of other banks 27,419 506 6,319 1,160 1,924 1,543 2,134 2,732 2,638 1,717 1,8-41 517 4,388 Uncollected items 693,328 62,980 176,642 57,798 65,166 61,129 23,789 90,849 29,333 20,688 35,758 29,292 39,904 Bank premises 45,417 3,019 10,021 4,868 6,267 2,737 2,206 4,633 2,357 1,514 3,177 1,246 3,372 All other assets 37,292 2,236 3.0,544 4,513 4,118 2,396 1,442 3,425 l,4ll 1,350 1,642 1,477 2,738 TOTAL ASSETS 12,824,627 738,952 4,590,479 808,643 1,053,690 518,368 390,333 2,159,148 441,832 311,646 481,180 334,687 995,669 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283~b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 22, 1937 (In thousands of dollars) L I A B I L IT Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R. notes in actual circulation ,253,156 285,224 946,302 316,588 438,106 203,083 166,608 973,452 180,054 139,980 166,769 93,259 343,731 Deposits s Member bank - reserve account 6,977,186 336,381 3,147,898 362,969 452,029 212,605 167,199 987,628 199,4l6 130,217 253,453 179,417 547,974 U.S.Treasurer - General, account 193,490 10,768 50,878 9,686 24,656 14,153 8,294 34,268 7,984 3,670 7,877 8,595 12,661 Foreign bank 237,332 16,707 91,089 22,428 21,056 9,841 8,010 26,548 6,866 5,264 6,637 6,637 16,249 Other deposits 124,734 2,219 58,992 6,192 22,071 4,879 3,820 2,o4l 6,214 3,098 183 3,6l4 ll,4ll Total deposits 7,532,742 366,075 3,348,857 401,275 519,812 241,478 187,323 .,050,485 2.20,480 142,249 268,150 198,263 588,295 Deferred availability items 690,025 63,534 174,396 57,278 63,788 58,876 23,62L 90,245 30,706 20,026 36,269 32,089 39,197 Capital paid in 132,605 9,383 51,057 12,257 12,935 4,876 4,394 12,862 3,852 2,891 4,053 3,875 10,170 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 35,803 1,570 9,117 3,000 3,121 1,497 1,690 7,749 1,200 2,034 941 1,847 2,037 All other, liabilities 6,952 466 1,532 558 598 267 327 1,435 340 347 243 241 598 TOTAL LIABILITIES 12,824,627 738,952 4,590,479 808,643 1,053,690 518,368 390,333 2,159,148 441,832 311,646 481,180 334,687 995,669 Contingent liability on bills purchased for foreign correspondents 1,543 113 557 151 142 66 54 179 46 35 45 45 110 Commitments to make industrial 921 1,749 10 1,037 120 advances 14,970 1,935 5,086 l4o 311 52 301 3,30S MATURITY DISTRIBUTION OF BILLS AND SECURITIES tithin 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 24,195 21,219 1,429 850 556 138 Bills bought 3,026 1,200" 391 1,235 200 Industrial advances 20,601 1,133 209 56.1 723 1,823 3,246 5,693 7,213 U.S.Government securities 2,526,190 26,006 25,282 59,729 63,358 387,829 435,283 209,798 631,653 687,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283~b FEDERAL RESERVE HOTE STATEMENT ON SEPTEMBER 2.2, 1937 (in thousands of dollars) Total Boston !3ew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notesl Issued to F.R- bank by F.R.agent 4,613,505 331,193 1,056,051 336,424 470,738 212,622 185,292 008,308 194,122 144,952 177,368 104,465 391,970 Held by Federal Reserve bank 360,349 45,969 109,749 19,836 32,632 9,539 18,684 34,856 l4,068 4,972 10,599 11,206 48,239 In actual circulation 4,253,156 285,224 946,302 316,588 438,106 203,083 166,608 973,452 180,054 139,980 166,769 93,259 343,731 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,633,132 336,000 1,060,000 337,000 473,000 215,000 171,000 1,020,000 190,632 146,000 180,000 105,500 399,000 Eligible paper 22,755 1,510 l4,0'45 686 813 488 796 1,710 450 498 566 383 810 U. S. Gov't securities 32,000 20,000 12,000 Total collateral 4,687,887 337,510 1,074,045 337,686 473,813 215,488 191,796 1,021,710 203,082 146,498 180,566 105,883 399,810 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis