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. 29; of the Federal. Reserve System not earlier. October 28, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended October 27 member bank reserve balances increased $12,000,000. Additions to member bank reserves arose from a decrease of $27,000,000 in money in circulation and increases of $5,000,000 in Reserve bank credit and $2,000,000 in Treasury currency, offset in part by increases of $5,000,000 in Treasury cash other than inactive gold, $12,000,000 in Treasury deposits with Federal Reserve banks and $6,000,000 in nomaember deposits and other Federal Reserve accounts. Excess reserves of member banks on October 27 were estimated to be approximately $1,070,000,000, an increase of 150,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,270,000,000 on October 27, an increase of $9,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended October 27, 1937, were as followst Increase or decrease since Oct. 27 Oct. 20 Oct. 28 1937 1937 1936 (in millions of dollars) Bills discounted 23 + 5 + 17 Bills bought 3 — — U. S. Government securities 22,,552266 — + 96 Industrial advances (not including l4 million commitments - October 27) 19 — - 7 Other Reserve bank credit -2 — + 1 Total Reserve bank credit 2,570 + 5 + 108 Gold stock 12,801 + 8 +1,770 Treasury currency 2,607 + 2 + 93 Member bank reserve balances 6,951 + 12 + 219 Money in circulation 6,519 _ 27 + 217 Treasury cash 3,666 + 12 +1,276 Treasury deposits with F. R. banks 9-4 + .12 6 Honmember deposits and other F. R. accounts 74-9 + 6 + 266 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-283-a Released for publication Friday morning, October 29,1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Oct. 27,1937 Oct. 20.1937 Oct. 26. 1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 9,126,391 9,126,389 8,635,831 Redemption fund - F. R. notes 9,421 9,438 12,273 Other cash 315.-489 303,903 265,825 Total reserves 9,451,301 9,439,730 8,913,929 Bills discountedt Secured by U.S.Gov't obligations,direct or fully guaranteed 17,890 13,193 3,421 Other bills discounted 5,536 5,291 2,686 Total bills discounted 23,426 18,484 6,107 Bills bought in open market 2,830 2,830 3,087 Industrial advances 19,450 19,478 26,299 U. S. Government securities I Bonds 738,073 738,073 378,077 Treasury notes 1,158,463 1,157,713 1,443,363 Treasury bills 629,654 630,4o4 608,787 Total U. S. Government securities . . 2,526,190 2,526,190 2,430,227 Total bills and securities 2,571,896 2,566,982 2,465,720 Due from foreign banks 173 173 220 F. R. notes of other banks 28,526 28,431 24,720 Uncollected items 622,341 714,261 573,806 Bank premises 45,435 45,455 48,062 All other assets 40,807 39,679 39,116 TOTAL ASSETS 12,760,479 12,834,711 12,065,573 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,256,097 4,270,223 4,086,242 Deposits: Member bank - reserve account 6,950,730 6,938,802 6,732,003 U.S. Treasurer - General account . . . 94,046 81,557 99,903 Foreign bank 265,891 276,444 65,479 Other deposits 218,679 202,130 154,170 Total deposits . 7,529,3^6 7,498,933 7,051,555 Deferred availability items 624,534 716,04l 577,408 Capital paid in 132,683 132,679 130>241 Surplus (Section 7) 145,854 145,854 l45 50l } Surplus (Section 13 b) 27,615 27,615 27,088 Reserve for contingencies 35,768 35,769 34,236 All other liabilities. 8,582 7,597 13,302 TOTAL LIABILITIES 12,760,479 12,834,711 12,065,573 Ratio of total reserves to deposit and F. R. note liabilities combined . * . 80.2$ 80.2$ 80.0$ Contingent liability on bills purchased for foreign correspondents 2,326 1,855 Commitments to make industrial advances 14,488 *l4,554 22,790 *Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 27, 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. Qold certificates on hand and due from U. S. Treasury 9,126,391 451,13^ 3,608,896 483,494 686,405 302,920 227,294 1,743,061 276,868 192,907 276,757 181,750 694,905 Redemption fund - F. R. notes 9,421 96 1,515 1,032 690 525 1,385 782 934 515 175 312 1,460 Other cash 315,489 29,196 82,278 25,022 16,516 17,049 13,969 39,078 17,759 6,680 21,228 16,945 29,769 Total reserves 9,451,301 480,426 3,692,689 509,548 703,611 320,494 242,648 1,782,921 295,561 200,102 298,160 199,007 726,134 Bills discountedi Secured by U.S.Gov't obligations, direct or fully guaranteed 17,890 1,419 6,646 4,824 640 608 1,104 1,330 255 120 262 184 498 Other bills discounted 5,536 700 2,417 204 l4l 139 607 70 174 818 224 42 Total bills discounted 23,426 .2,119 9,063 5,028 781 747 1,711 1,400 255 294 1,080 408 540 Bills bought in open market 2,830 205 1,016 291 268 110 98 352 78 54 79 79 200 Industrial advances 19,450 2,902 4,672 3,637 804 1,875 149 774 244 664 502 1,122 2,105 U. S. Government securities! Bonds 738,073 53,791 211,830 62,330 71,851 38,868 32,428 81,339 3322,,554433 2244,,001100 3366,,226677 28,816 6644,,000000 Treasury notes 1,158,463 84,429 332,485 97,832 112,775 61,007 50,899 127,668 51,079 37,684 56,921 45,233 100,451 Treasury bills 629,654 45,889 180,714 53,174 61,296 33,159 27,664 69,391 27,763 20,482 30,939 24,585 54,598 Total U.S.Gov't securities 2,526,190 184,109725,029 213,336245,922 133,034 110,991278,398 111,385 82,176 124,127 98,634 219,049 Total bills and securities 2,571,896 189,335 739,780 222,292 247,775 135,766 112,949 280,924 111,962 83,188 125,788 100,243 221,894 Due from foreign banks 173 l4 56 19 17 8 7 23 2o 2O 6A 6A 1"3I ** F. R. notes of other banks 28,526 530 7,636 1,006 l,6o4 3,392 2,260 3,295 2,173 l,l4l 2,073 777 2,639 Uncollected items 622,341 61,781 152,666 50,894 59,200 54,912 21,500 84,223 27,178 18,349 34,468 25,581 31,589 Bank premises 45,435 3,015 10,005 4,847 6,254 2,728 2,202 4,620 2,353 1,513 3,171 1,364 3,363 All other assets 40,807 2,385 12,075 5,112 4,361 2,554 1,517 3,699 1,527 1,418 1,778 1,423 2,958 TOTAL ASSETS 12,760,479 737,486 4,614,907 793,718 1,022,822 519,854 383,083 2,159,705 440,756 305,713 465,444 328,401 988,590 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-c ASSETS JfliD LIABILITIES OF THE FEDERAL RESERVE BANKS OIJ OCTOBER 271,9 37 (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 circulation 4,256,097 284,259 947,9603 15,096 433,776 214,537 165,611 977,705 180,530 138,670 165,192 90,256 342,505 DepositsJ Member bank - reserve account 6,950,730 342,537 3,109,994 358,728 452,9482 14,153 166,284 1,009,614 202,081 126,369 242,730 186,296 538,996 U.S.Treasurer - General account 94,046 2,442 31,005 3,466 9,4l6 6,775 4,043 10,071 4,617 3,345 4,575 2,369 11,922 Foreign bank 265,891 19,412 95,972 26,059 24,464 11,434 9,307 30,846 7,977 6,116 7,712 7,712 18,880 Other deposits 218,679 2,314 160,453 6,276 11,554 3,865 3,786 1,401 5,885 2,659 182 2,854 17,450 Total deposits 7,529,346 366,705 3,397,424 394,529 498,382 236,227 183,420 1,051,932 220,560 138,489 255,199 199,231 587,2.48 Deferred availability items 624,534 62,327 148,226 50,009 58,541 54,107 21,238 85,116 29,014 19,042 35,000 27,778 34,136 Capital paid in 132,683 9,385 51,077 12,259 12,943 4,877 4,391 12,899 3,844 2,891 4,065 3,878 10,174 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,86-9 5,616 21,504 4,655 3,116 3,613 3,851 9,645 Surplus (Section 13 b) 27,615 2,874 7,744 4,325 1,007 3,422 754 l,4l6 545 1,003 1,142 1,262 2,121 Reserve for contingencies 35,768 1,570 9,117 3,000 3,121 1,497 1,690 7,721 1,200 2,027 941 1,847 2,037 All other liabilities 8,582 540 1,885 1,138 729 318 363 1,412 408 475 292 298 724 TOTAL LIABILITIES 12,760,479 737,486 4,614,907 793,718 1,022,822 519,854 383,083 2,159,705 440,756 305,713 465,444 328,401 988,590 Contingent liability on bills purchased for foreign correspondents 2,326 157 955 210 198 92 75 249 6655 49 62 62 152 Comnitnents to make industrial advances 14,488 1,839 4,934 144 875 1,687 354 10 1,035 51 117 269 3,173 MATURITY DISTRIBUTION OF BILLS AND SECURITIES mthin 16 to 31 to 61 to 91 days tcJ 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 23,426 21,044 823 515 492 520 32 Bills bought 2,830 171 232 117 2,310 Industrial advances 19,450 1,086 257 712 876 1,695 2,914 5,679 6,231 U. S. Government securities 2,526,190 29,685 31,370 60,168 52,853 426,185 396,476 209,798 632,415 687,240 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form Fft-28>d FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 27, 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 4,612,569 333,563 1,058,861 331,885 461,216 227,812 184,985 1,009,808 193,855 1^4,803 177,589 98,336 389,856 Held by Federal Reserve bank 356,472 49,304 110,901 16,789 27,440 13,275 19,374 32,103 13,325 6,133 12,397 8,080 47,351 In actual circulation 4,256,097 284,259 947,960 315,096 433,776 214,537 165,611 977,705 180,530 138,670 165,192 90,256 342,505 Collateral held by agent as security for notes issued to bank* Gold certificates on hand aad due from U. S. Treasury -4,637,132 34-1,000 1,060,000 337,000 464,000 228,000 168,000 1,020,000 190,632 148,000 ISO,000 101,500 399,000 Eligible paper 23,186 2,119 9,043 5,028 781 74-7 1,528 1,400 255 257 1,080 408 540 U. S.Gov't securities 32,000 20,000 12,000 Total collateral 4,692,318 343,119 1,069,043 >42,028 464,781 228,747 189,528 1,021,400 202,887 l4S,257 181,080 101,908 399,540 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis