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, Oct, 15; of the Federal Reserve System not earlier. October l4, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended October 13 member bank reserve balances decreased $84,000,000. Reduction in member bank reserves arose from increases of $16,000,000 in money in circulation, #6,000,000 in Treasury cash other than inactive gold, $7,000,000 in Treasury deposits with Federal Reserve banks and 036,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $25,000,000 in Reserve bank credit, offset in part by an increase of $5,000,000 in Treasury currency. Excess reserves of member banks on October 13 were estimated to be approximately $990,000,000,/leerease of $100,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,252,000,000 on October 13, an increase of $18,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended ;0ctober 13, 1937, were as followst Increase or decrease since Oct. 13 Oct. 6 Oct. lA 1937 • 1937 1936 (In millions of dollars) Bills discounted 23 — +15 Bills bought 3 — U. S.Government securities 22,,552266 +96 — Industrial advances (not including 15 million commitments - October 13) 20 — -6 Other Reserve bank credit -25 -31 Total Reserve bank credit 2,558 -25 +73 Gold stock 12,784 +19 +1,781 Treasury currency 2,601 +5 +89 Member bank reserve balances 6,919 -84 +302 Money in circulation 6,585 +16 +269 Treasury cash 3,634 +2-4 +1,213 Treasury deposits with F. R. banks 83 +7 -52 Nonmember deposits and other F. R. accounts 722 +36 +212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-a Released for publication Friday morning, October 15,1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Oct. 13,1937 Oct. 6,1937 Oct. 1-4,1936 A S S'E T S Gold certificates on hand and due from U. S. Treasury 9,126,889 9,127,389 8,581,384 Redemption fund - F. R. notes 9,646 10,422 13,136 Other cash 293,765 300,809 251,328 Total reserves 9,430,300 9,438,620 8,845,848 Bills discounted} Secured by U.S.Gov't obligations,direct or fully guaranteed 13,268 12,327 3,963 Other bills discounted 10,183 10,729 4,196 Total bills discounted 23,451 23,056 8,159 Bills bought in open market 2,830 2,813 3,098 Industrial advances .... 19,622 19,680 26,480 U. S. Government securitiest Bonds 738,073 738,073 378,077 Treasury notes 1,157,713 1,157,713 1,443,363 Treasury bills 630,4p4 630,4o4 608,787 Total U.S.Government securities . . 2,526,190 2,526,190 2,430,227 Total bills and securities . . .. 2,572,093 2,571,739 2,467,964 Due from foreign banks 173 190 216 F. R. notes of other banks 27,814 28,172 24,791 Uncollected items 657,615 633,125 841,169 Bank premises 45,456 45,456 48,062 All other assets 40,849 39,114 40,657 TOTAL ASSETS 12,774,300 12,756,416 12,268,707 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,291,519 4,284,339 4,093,187 Deposits: Member bank - reserve account . . .. 6,918,902 7,003,033 6,616,920 U.S.Treasurer - General account . . . 83,231 76,183 135,246 Foreign bank 283,014 287,311 88,904 Other deposits 174,745 134,065 159.828 Total deposits 7,459,892 7,500,592 7,000,898 Deferred availability items 672,090 622,374 824,207 Capital paid in . 132,656 132,627 130,243 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) 27,490 27,490 27,088 Reserve for contingencies 35,803 35,804 34,242 All other liabilities 8,996 7,336 13,34-1 TOTAL LIABILITIES 12,774,300 12,756,4l6 12,268,707 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 80.2$ 80.1* 79.7$ Contingent liability on bills purchased for foreign correspondents . . . .. 1,511 1,365 Commitments to make industrial advances 14,662 14,739 23,086 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Fora FR—28'jr~b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 13, 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 9,126,889 467,493 3,494,271 503,845 702,998 311,158 244,557 1,719,882 281,488 197,382 296,721 188,000 719,094 Redemption fund - F. R. notes 9,646 132 1,657 1,091 749 808 l,4l6 339 949 522 185 320 1,478 Other cash 293,765 25,139 77,049 23,992 16,547 16,431 13,120 37,585 16,034 7,047 19,604 15,556 25,661 Total reserves 9,430,300 492,764 3,572,977 528,928 720,294 328,397 259,093 1,757,806 298,471 204,951 316,510 203,876 746,233 Bills discounted: Secured by U.S.Govt, obligations, direct or fully guaranteed 13,268 230 6,906 1,402 550 472 844 1,600 245 125 152 344 398 Other bills discounted 10,183 725 7,730 177 52 221 505 67 9 71 392 149 85 Total bills discounted 23,451 955 14,636 1,579 602 693 1,349 1,667 254 196 544 493 483 Bills bought in open market 2,830 205 1,017 291 268 109 98 352 78 54 79 79 200 Industrial advances 19,622 2,919 4,704 3,661 807 1,885 156 777 244 682 560 1,145 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 45,202 100,3S7 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 2,526,190 184,109 725,029 213,336 245,922 133,034 110,991 278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,572,093 188,188 745,386 218,867 247,599 135,721 112,594 281,194 111,961 83,108 125,310 100,351 221,814 Due from foreign banks 173 14 56 19 17 8 7 23 2 2 6 6 13 F. R.notes of other banks 27,814 548 8,171 912 1,428 2,085 1,858 3,828 2,342 1,110 1,385 485 3,662 Uncollected items 657,615 62,840 147,113 48,235 62,117 60,430 21,791 93,399 35,443 22,103 40,935 30,732 32,477 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 40,849 2,362 12,064 5,527 4,307 2,522 1,509 3,613 1,506 1,409 1,710 l,4o4 2,916 TOTAL ASSETS 12,774,300 749,731 4,495,772 807,345ip42,0l6 531,891 399,057 2,144,483 452,079 314,194 489,027 338,2181^.0,487 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FRr-283~c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 13, 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 irculation 4,291,519 288,122 959,251 316,788 439,442 213,019 168,965 976,106 182,216 140,369 166,810 93,075 347,356 Depositsj Member bank - reserve account 6,918,902 345,261 3,039,971 371,095 451,526 215,028 176,665 976,516 207,110 132,795 255,518 184,530 562,887 U.S.Treasurer - General account 83,231 3,320 15,275 2,016 11,846 10,649 3,553 10,628 3,703 2,948 6,377 4,759 8,157 Foreign bank 283,014 20,354 104,848 27,324 25,651 11,989 9,759 32,343 8,365 6,413 8,086 8,086 19,796 Other deposits 174,745 3,296 113,638 6,315 16,525 4,059 3,753 949 6,065 2,566 161 3,714 13,704 Total deposits 7,459,892 372,231 3,273,732 406,750 505,548 241,725 193,730 1,020,436 225,243 144,722 270,142 201,089 604,544 Deferred availability items 672,090 65,201- 1_ 4/1 - ,3«y6 2_ 4I9 ^, 3a7. 7 6s4i ,960. 6/2 _, 1- 78 2^^3 ,5~5 ~6 / 10~ 2^ ,8n/6 /8-s. 3^ 3,8r\4 i 9 1-i9 ,6/ 89rt r> 4!2 ^ ,084/ 32,927 3^ 4/, 0a3^A9 Capital paid in 132,656 9,383 51,084 12,259 12,936 4,877 4,391 12,891 3,846 2,891 4,057 3,876 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 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 8,996 524 2,008 1,484 679 304 355 1,513 525 370 238 291 705 TOTAL LIABILITIES 12,774,300 749,731 4,495,772 807,345 1,042,016 531,891 399,057 2,144,483 452,079 314,194 489,027 338,2181^.0,487 Contingent liability on bills purchased for foreign correspondents 1,511 97 657 131 123 57 47 155 40 31 39 39 95 Connitnents to make industrial advances 14,662 1,880 4,987 148 888 1,742 310 10 1,035 51 117 269 3,225 MATURITY DISTRIBUTION OF BILLS AMD 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 nonths to 1 Year to 2 Years to 5 Years 5 Years Bills discounted 23,451 21,744 301 824 348 232 Bills bought 2,830 26 200 273 2,331 Industrial advances 19,622 960 301 645 928 1,904 2,884 5,519 6,481 U. S. Government securities 2,526,190 27,349 29,685 59,655 57,016 419,569 404,213 209,798 631,653 607,252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283-d FEDERAL RESERVE NOTE STATEMENT OK OCTOBER 13, 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.agent 4,608,405 329,225 1,055,466 332,708 462,620 224,532 187,363 1,004,966 194,54 3145,945 170,776 100,462 391,799 Held by Federal Reserve bank 316,886 4l,103 96,215 15,920 23,178 11,513 18,398 28,860 12,327 5,576 11,966 7,387 44,443 In actual circulation 4,291,519 288,122 959,251 316,788 439,442 213,019 168,965 976,106 182,216 140,369 166,810 93,075 347,356 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due fron U. S. Treasury 4,639,132 336,000 1,060,600 337,000 467,000 225,000 171,000 1,020,000 190,632 148,000 180,000 105,500 399,000 Eligible paper 23,149 955 14,621 1,479 602 623 1,243 1,657 254 195 544 493 483 U. S. Gov't securities 32,000 - - 20,000 - - 12,000 Total collateral 4,694,281 336,955 1,074,621 338,479 467,602 225,623 192,243 1,021,657 202,886 148,195 180,544 105,993 399,483 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis