H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FRr-283 STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, Oct. lj* of the Federal Reserve System not earlier* September 30, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended September 29 member bank reserve balances increased $56,000 ,000* Additions to member bank reserves arose from decreases of $9,000,000 in money in circulation, $53,000,000 in Treasury deposits with Federal Reserve banks and $2,000,000 in Treasury cash other than inactive gold and an increase of $3,000,000 in Treasury currency, offset in part by an increase of $7,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $5,000,000 in Reserve bank credit. Excess reserves of member banks on September 29 were estimated to be approximately $1,060,000,000, an increase of $40,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,203,000,000 on September 29, an increase of $<41,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended September 29, 1937, were as follows! Increase or decrease since Sept. 29 Sept. 22 Sept 30 f 1937 1937 1936 (in millions of dollars) Bills discounted 2-4 —- +15 Bills bought 3 — U. S. Government securities 2,526 — +96 Industrial advances (not including 15 million commitments - September 29) 21 — -7 Other Reserve bank credit -A -3 Total Reserve bank credit 2,573 -5 +100 Gold stock 12,734 +Ao +1,889 Treasury currency 2,596 +3 +8-4 Member bank reserve balances 7,033 +56 +676 Money in circulation 6,520 -9 +253 Treasury cash 3,575 +38 +1,117 Treasury deposits with F. R. banks l4o -53 -113 Nonmember deposits and other F. R. accounts 635 +7 +139 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2S3-a Released for publication Friday morning, October 1, 1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Sept. 29,1937 Sept. 22,1937 Sept. 30,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 9,127*392 9,129,890 8,384,683 Redemption fund - F. R. notes . . .. 10,422 8,663 12,428 Other cash 316,143 308,4l6 261,445 Total reserves 9,453,957 9,446,969 8,658,556 Bills discountedi Secured by U.S.Gov't obligations,direct or fully guaranteed . 11,951 13,356 2,893 Other bills discounted 11,639 10,839 6,558 Total bills discounted 2.3,590 24,195 9,451 Bills bought in open market 3,026 3,026 3,098 Industrial advances 20,598 20,601 28,l45 U. S. Government securities I Bonds 738,073 738,073 378,077 Treasury notes 1,157,713 1,157,713 1,443,363 Treasury bills ... 630,4o4 630,4p4 608,787 Total U.S.Government securities , . 2,52.6,190 2,526,190 2,430,227 Total bills and securities . . .. 2,573,404 2,574,012 2,470,921 Due from foreign banks 190 190 2.17 F. R. notes of other banks 27,370 27,419 22,640 Uncollected items 637,059 693,328 622,578 Bank premises . 45,514 45,417 48,060 All other assets 37,952 37,292 39,232 TOTAL ASSETS 12,775,446 12,824,627 11,862,204 L I A B I L I T I ES F. R. notes in actual circulation . . 4,246,268 4,253,156 4,o49,l43 Deposits t Member bank - reserve account . . .. 7,032,833 6,977,186 6,356,952 U. S. Treasurer - General account . 140,273 193,490 252,737 Foreign bank 243 ,378 237,332 51,950 Other deposits 125,612 124,734 181.873 Total deposits 7,542,096 7,532,742 6,843,512 Deferred availability items 637,764 690,025 620,360 Capital paid in 132,604 132,605 130,162 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 2.7,088 Reserve for contingencies 35,803 35,803 34,24l All other liabilities 7,567 6,952 12,197 TOTAL LIABILITIES 12,775,446 12,824,627 11,862,204 Ratio of total reserves to deposit and F. R.note liabilities combined ... 80.2$ 80,2% 79.5% Contingent liability on bills purchased for foreign correspondents 1,338 1,543 Commitment® to make industrial advances 14,880 14,970 23,307 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-28>-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON SEPTEMBER 29, 1937 (in thousands of dollars) A S S E TS Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St. Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 9,127,392 449,268 3,611,702 488,542 698,337 302,905 232,84l 1,706,680 276,485 199,187 281,868 191,3626 88,215 Redemption fund - F.R.notes 10,422 261 1,894 1,187 870 681 1,464 451 976 536 203 334 1,565 Other cash 316,143 28,983 80,682 25,027 15,069 16,774 15,284 45,552 16,357 7,422 20,555 14,357 30,081 Total reserves 9,453,957 478,512 3,694,278 514,756 714,276 320,360 249,589 1,752,683 293,818 207,145 302,626 206,053 719,861 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 11,951 505 6,638 737 382 462 444411 1,010 165 845 116 130 520 Other bills discounted 11,639 949 8,021 171 147 281 679 137 62 103 318 226 54 5 Total bills discounted 23,590 1,454 14,659 908 529 743 1,120 1,147 227 948 434 356 1,065 Bills bought in open market 3,026 220 1,075 313 288 117 106 378 85 59 85 85 215 Industrial advances 20,598 2,990 5,377 3,721 820 1,920 174 807 250 717 579 1,159 2,084 U. S. Government securities! Bonds 738,073 53,791 211,831 62,330 71,850 38,868 32,428 8811,,334400 3322,,554433 2244,,000099 36,266 28,818 63,999 Treasury notes 1,157,713 84,374 332,269 97,768 112,703 60,968 50,866 127,584 51,046 37,66}. 56,885 45,202 100,387 Treasury bills 630,404 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 2,526,190 184,109 725,029 213,336 245,922 133,034 110,991 273,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,573,404 188,773 746,l40 218,278 247,559 135,8l4 112,391 280,730 111,947 83,900 125,225 100,234 222,413 Due from foreign banks 190 l4 72 19 17 8 7 23 3 2 6 6 13 F. R. notes of other banks 27,370 510 8,403 1,099 1,315 1,589 1,949 4,999 1,811 820 1,653 565 2,657 Uncollected items 637,059 64,019 155,348 52,889 62,419 58,714 21,815 85,523 2.8,122 19,955 31,883 25,448 30,924 Bank premises 45,514 3,015 10,023 4,856 6,267 2,728 2,205 4,633 2,354 1,514 3,177 1,370 3,372 All other assets 37,952 2,274 10,826 4,557 4,195 2,479 1,453 3,498 1,439 1,375 1,726 1,336 2,794 TOTAL ASSETS 12,775,446 737,117 4,625,090 796,454 1,036,048 521,692 389,409 2,132,089 439,494 314,711 466,296 335,012 982,034 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ONS EPTEMBER 29, 1937 (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. R. notes in actual circulation4 ,246,268 285,421 949,857 314,563 434,857 204,642 166,802 969,096'180,550 139,891 166,465 92,319 341,805 Deposits t Member bank - reserve account 7,032,833 331,401 3,2.23,275 357,601 452,028 216,359 170,651 975,077 194,180 132,817 244,772 183,268 551,4o4 U.S.Treasurer — General account 140,273 11,886 28,502 9,169 13,370 13,352 5,674 24,896 10,253 4,365 4,936 9,897 3,973 Foreign bank 243,378 17,774 87,793 23,861 22,400 10,470 8,522 28,244 7,305 5,600 7,061 7,06l 17,287 Other deposits 125,612 2,794 61,177 6,473 20,218 4,497 3,698 1,658 6,138 3,186 1,297 3,486 10,990 Total deposits 7,542,096 363,855 3,400,747 397,104 508,0162 44,678 188,545 1,029,875 217,876 145,968 258,066 203,712 583,654 Deferred availability items 637,764 63,713 153,276 51,254 61,126 57,413 21,294 88,107 30,447 19,429 31,727 27,849 32,129 Capital paid in 132,604 9,384 51,057 12,257 12,936 4,877 4,390 12,866 3,851 2,892 4,053 3,875 10,166 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 35,803 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 7,567 474 1,818 589 662 294 318 1,476 370 378 289 297 602 TOTAL LIABILITIES 12,775,446 737,117 4,625,090 796,454 1,036,048 521,692 389,409 2,132,089 439,494 314,711 466,296 335,012 982,034 Contingent liability on bills purchased for foreign correspondents 1,338 98 483 131 123 57 47 155 40 31 39 39 95 Commitments to make industrial advanees 14,880 1,930 5,059 140 903 1,746 311 10 1,037 52 120 301 3,271 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 23,590 21,534 434 1,012 436 -173 Bills bought 3,026 391 1,016 302 1,317 Industrial advances 20,598 1,179 190 572 696 1,898 3,117 5,801 7,145 U. S. Government securities 2,526,190 27,472 27,349 61,055 60,168 396,030 425,413 209,798 631,653 687,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283-d FEDERAL RESERVE NOTE STATEMENT Oil SEPTEMBER 29, 1937 (in thousands of dollars) Total Boston New York Phila. Cleve. R±6h. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes 5 Issued to F.R.bank by P.R.agent 4,602,269 328,655 1,054,593 333,197 468,706 214,203 185,985 1,005,915 195,623 144,061 177,893 103,470 389,968 Held by Federal Reserve bank 356,001 43,234 104,736 18,634 33,849 9,561 19,183 36,819 15,073 4,170 11,428 11,151 48,163 In actual circulation 4,246,268 285,421 949,857 314,563 434,857 204,642 166,802 969,096 180,550 139,891 166,465 92,319 341,805 Collateral held by agent as security for notes issued to bankl 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 22,183 1,381 14,138 810 437 630 930 1,031 177 925 405 326 993 U. S. Qov't securities 32,000 — — — — — 20,000 — 12,000 — — — Total collateral 4,687,315 337,381 1,074,138 337,810 473,437 215,630 191,930 1,021,031 202,809 146,925 180,405 105,826 399,993 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis