H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form FR-283 STATEMENT R)R THE PRESS Released for publication Board of Governors Friday morning, Oct, 8; of the Federal Reserve System not earlier. October 7, 1937. CONDITION OF FEDERAL RESERVE BMXS During the week ended October 6 member bank reserve balances decreased #30,000,000. The reduction in member bank reserves arose from increases of ,000,000 in money in circulation, #51,000,000 in nonmember deposits and other Federal Reserve accounts, and $4,000,000 in Treasury cash other than inactive gold, offset in part by an increase of #10,000,000 in Reserve bank credit and a decrease of #64,000,000 in Treasury deposits with Federal Reserve banks. Excess reserves of member banks on October 6 were estimated to be approximately #1,090,000,000, an increase of #30,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to #1,23^,000,000 on October 6, 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 October 6, 1937, were as follows! Increase or decrease since Oct. 6 Sept. 29 Oct. 7 1937 1937 1936 (In millions of dollars) Bills discounted 23 -1 +15 Bills bought 3 .— — U. S. Government securities 2,526 .— +96 Industrial advances (not including 15 million commitments October 6) 20 -1 -7 Other Reserve bank credit 11 +12 +7 Total Reserve bank credit 2,583 +10 +111 Gold stock 12,765 +31 +1,794 Treasury currency 2,596 — +87 Member bank reserve balances 7,003 -30 +524 Money in circulation 6,569 +-49 +264 Treasury cash 3,610 +1,170 Treasury deposit® with F. R. banks 76 -64 -120 Nonmember deposits and other F. R. accounts 686 +51 +152 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, October 8, 1937; not earlier, ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Oct. 6, 1937 Sept. 29,1937 Oct, 7, 1936 ASS E T S Gold certificates on hand and due from U. S. Treasury 9,127,389 9,127,392 8,527,881 Redemption fund - F. R. notes 10,422 10,422 12,248 Other cash 300,809 316,143 252,246 Total reserves .... 9,438,620 9,453,957 8,792,375 Bills discountedi Secured by U.S.Gov't obligations,direct or fully guaranteed 12,327 11,951 3,426 Other bills discounted . 10,729 11,6^9 4,113 Total bills discounted . . 23,056 23,590 7,539 Bills bought in open market 2,813 3,026 3,098 Industrial advances . . . .. 19,680 20,598 27,142 U. S. Government securities J Bonds 738,073 738,073 378,077 Treasury notes . . .. 1,157,713 1,157,713 1,443,363 Treasury bi^ls ... 630,404 630,404 608,787 Total U.S.Government securities . , , 2,526,190 2,526,190 2,430,227 Tot|il bills and securities 2,571,739 2,573,404 2,468,006 Due ftrom foreign banks 190 190 217 F. R. notes of other banks . . . . . .. 28,172 27,370 21,297 Uncollected items . * 633,125 637,059 592,617 Bank premises ... 45,456 45,514 48,060 All other assets . 39,114 37,952 39,247 TOTAL ASSETS 12,756,416 12,775,446 11,961,819 L I A B I L I T I ES F. R. notes in actual ciactiLation . . .. 4,284,339 4,246,268 4,077,724 Deposits» Member bank - reserve account 7,003,033 7,032,833 6,478,948 U.S.Treasurer - General account . . .. 76,183 140,273 195,786 Foreign bank . . . . . . . . . . . .. 287,311 243,378 74,395 Other deposits 134,065 125,612 197,022 Total deposits 7,500,592 7,542,096 6,946,151 Deferred availability items 622,374 637,764 588,543 Capital paid in 132,627 132,604 130,178 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) . . 27,490 27,490 27,088 Reserve for contingencies 35,804 35,803 34,242 All other liabilities 7,336 7,567 12,392 TOTAL LIABILITIES 12,756,416 12,775,446 11,961,819 Ratio of total reserves to deposit and F, R. note- liabilities combined . . . 80.155 80.256 79,8% Contingent liability on bills purchased for foreign correspondents 1,365 1,338 Commitments to make industrial advances 14,739 14,880 22,906 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 6, 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 9,127,389 468,813 3,544,646 496,297 700,855 309,827 240,178 1,714,630 278,909 198,455 288,809 188,386 697,584 Redemption fund - F.R.notes ~10 ,422 2"6"1 1,894' 1,187 870 681 1,464 451 976 536 203 334 1,565 Other cash 300,809 27,394 79,978 25,378 14,376 15,326 13,410 40,007 15,500 6,353 19,685 15,344 28,058 Total reserves 9,438,620 496,468 3,626,518 522,862 716,101 325,834 255,052 1,755,088 295,385 205,344 308,697 204,064 727,207 Bills discounted: Secured "by U.S.Govt, obligations, direct or fully guaranteed 12,327 200 6,346 1,4)9 500 347 631 1,010 230 820 100 194 540 Other bills discounted 10,729 950 7,836 132 54 196 589 21 12 90 306 174 369 Total bills discounted 23,056 1,150 14,182 1,541 554 543 1,220 1,031 242 910 406 368 909 Bills bought in open market 2,813 205 1,000 291 268 109 98 352 78 54 79 79 200 Industrial advances 19,680 2,919 4,710 3,667 807 1,888 158 777 244 713 562 1,153 2,082 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 84,374 332,269 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 2,571,739 1:8 5,383 744,921 218,835 247,551 135,574 112*, 467 280,558 111,949 83,853 125,174 100,234 222,240 Due from foreign banks 190 14 72 19 17 8 7 23 3 2 6 6 13 F. R. notes of other banks 28,172 513 8,136 986 1,317 2,116 2,039 4,120 2,097 1,235 2,158 594 2,861 Uncollected items 633,125 61,007 150,190 50,160 64,634 54,421 22,707 84,463 32,148 19,915 33,736 27,708 32,036 Bank premises 45,456 3,015 10,005 4,857 6,254 2,728 2,205 4,620 2,354 1,511 3,171 1,364 3,372 All other assets 39,114 2,306 11,679 4,632 4,236 2,453 1,490 3,545 1,476 1,392 1,670 1,380 2,855 TOTAL ASSETS 12,756,416 751,706 4,551,521 802,351 1,040,110 523,134 395,967 2,132,417 445,412 313,252 474,612 335,350 990,584 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BANKS ON OCTOBER 6, 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 Iran. F.R. notes in actual circulation 4,284,339 286,884 959,063 313,064 436,055 210,611 169,394 975,627 182,915 141,722 168,220 94,002 346,782 Deposits: Member bank - reserve account 7,003,033 352,958 3,142,937 368,366 454,858 221,286 175,779 976,616 199,819 130,648 247,4l6 182,773 549,577 U.S.Treasurer - General account 76,183 3,592 10,789 4,780 7,947 6,555 2,790 17,009 4,396 2,470 5,262 5,781 4,812 Foreign bank 287,311 21,009 103,414 28,203 26,477 12,375 10,072 33,383 8,634 6,619 8,346 8,346 20,433 Other deposits 134,065 3,076 71,239 6,216 19,969 4,446 3,502 1,099 5,933 2,84o 208 3,810 11,727 Total deposits 7,500,592 380,635 3,328,379 437,565 509,251 244,662 192,143 1,028,107 218,782 142,577 261,232 200,710 586,549 Deferred availability items 622,374 60,057 143,027 48,132 62,809 52,927 21,647 83,640 33,106 19,544 35,200 29,539 32,746 Capital paid in 132,627 9,383 51,061 12,258 12-,935 4,877 4,390 12,889 3,846 2,891 4,056 3,876 10,165 Surplus (Section J) 145,854 9,826 51,474 13,362 14,323 4,869 5,6l6 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 35,804 1,570 9,117 3,000 3,121 1,497 1,691 7,749 1,200 2,034 941 1,847 2,037 All other liabilities 7,336 477 1,656 645 609 269 332 1,485 363 365 208 263 664 TOTAL LIABILITIES 12,756,416 751,706 4,551,521 802,351 1,040,110 523,134 395,967 2,132,417 445,412 313,252 474,612 335,350 990,584 Contingent liability on bills purchased for foreign correspondents 1,365 97 511 131 123 57 47 155 40 31 39 39 95 Commitments to make industrial advahces 14,739 1,922 4,987 l4o 888 1,745 310 10 1,035 52 117 301 3,232 MATURITY DISTRIBUTION OF BILLS AND SECURITIES ¥ithin l6 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 3 Years 5 Years Bills discounted 23,056 21,306 291 954 318 183 4 — Bills bought 2,813 — 49 278 2,486 — — — Industrial advances 19,680 1,009 290 664 903 1,655 2,910 5,526 6,723 U. S. Government securities 2,526,190 25,282 30,190 60,794 59,486 4l4,897 406,838 209,798 631,653 687,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-2S3-d FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 6, 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: Issued to F.R.bank by F.R.a^ent 4,609,199 331,54? 1,056,697 330,598 465,291 220,780 186,774 1,006,622 194,955 146,256 177,696 101,672 390,311 Held by Federal Reserve bank 324,860 44,663 97,634 17,534 29,236 10,169 17,330 30,995 12,040 4,534 9,476 7,670 43,529 Totaln actual circulation 4,284,339 286,884 959,063 313,064 436.,055 210,611 169,394 975,627 182,915 l4l,722 168,220 94,002 346,782 Collateral held by agent as security for notes issued to bank: 3-oId certificates on hand and due from II. S. Treasury 4,636,132 336,000 1,060,000 337,000 470,000 221,000 171,000 1,020,000 190,632 146,000 180,000 105,500 399,000 Eligible paper 22,822 1,150 1-4,167 1,542 554 473 1,073 1,031 2.42 909 406 368 907 U. S. Gov't securities 32,000 — — — — — 20,000 — 12,000 — Total collateral 4,690,954 337,150 1,074,167 338,542 470,554 221,473 192,073 1,OSS,031 202,874 146,909 1S0,406 105,868 399,907 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis