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, Nov. 19; of the Federal Reserve System not earlier, November 18, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended November 17 member bank reserve balances increased $<43*000,000. Additions to member bank reserves arose from an increase of $14,000,000 in Reserve bank credit and decreases of $30,000,000 in money in circulation, $15,000,000 in Treasury cash other than inactive gold and $4,000,000 in Treasury deposits with Federal Reserve banks, offset in part by an increase of $19,000,000 in nonmember deposits and other Federal Reserve accounts. Excess reserves of member banks on November 17 were estimated to be approximately $1,100,000,000, an increase of $30,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to £>1,257,000,000 on November 17, unchanged for the week. The principal changes in holdings of bills and securities were increases of $10,000,000 in United States Treasury notes and $8,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended November 17, 1937, follows* Increase or decrease since Nov. 17 Nov, 10 Nov* 18 1937 1937 1936 (in millions of dollars) Bills discounted 19 ~2 +14 Bills bought 3 — U. S. Government securities 2,555 +18 +125 Industrial advances (not including 13 million commitments - November 17) 19 - - -7 Other Reserve bank credit -5 -1 -4 Total Reserve bank credit 2,590 +126 Gold stock 12,789 +1,662 Treasury currency 2,611 — — +91 Member bank reserve balances 6,922 +43 +71 Money in circulation 6,534 -30 +159 Treasury cash 3,633 -15 +1,255 Treasury deposits with F. R. banks 135 -4 +85 Nonmember deposits and other F. R. accounts 765 +19 +308 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283~a Released for publication Friday morning, November 19,1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Nov. 17. 1937 Nov, 10.1937 Nov. 18.1936 A S S E TS Gold certificates on hand and due from U. S. Treasury 9,123,898 9,124,891 8,730,839 Redemption fund - F. R. notes . . . .. 9,287 9,381 12,585 Other cash "... 325,221 306.008 258.858 Total reserves 9,458,406 9,440,280 9,002,282 Bills discountedj Secured by U.S.Gov't obligations,direct or fully guaranteed l4,4l4 14,711 3,345 Other bills discounted 4,282 6,265 1,900 Total bills discounted 18,696 20,976 5,245 Bills bought in open market 2,831 2,832 3,086 Industrial advances 19,256 19,332 26,037 U. S. Government securities! Bonds . 738,073 738,073 379,960 t Treasury notes 1,168,463 1,158,463 1,443,363 Treasury bills 648,179 640,054 606,964 Total U.S. Government securities . 2,554,715 2,536,590 2,430,227 Total bills and securities . . .. 2,595,498 2,579,730 2,464,595 Due from foreign banks 175 173 221 F. R. notes of other banks . . 23,785 25,427 26,926 Uncollected items 736,957 638,847 718,925 Bank premises . 45,365 45,365 48,066 All other assets . 42,470 41,720 41,725 TOTAL ASSETS 12,902,656 12,771,542 12,302,740 L I A B I L I T I ES F. R. notes in actual circulation . . . 4,249,618 4,277,419 4,134,270 Depositsi Member bank - reserve account 6,922,400 6,879,403 6,850,652 U.S.Treasurer - General account . . .. 135,165 139,237 50,485 Foreign bank 266,227 272,742 52,702 Other deposits 237,178 209,879 143,893 Total deposits 7,560,970 7,501,261 7,097,732 Deferred availability items 742,234 642,771 720,127 Capital paid in 132,505 132,541 130,224 Surplus (Section 7) 145,854 145,854 145,501 Surplus (Section 13 b) , 27,615 27,615 27,088 Reserve for contingencies 35,709 35,742 34,295 All other liabilities . 8,151 8.339 13.503 TOTAL LIABILITIES . . . . . . 12,902,656 12,771,542 12,302,740 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 80.1$ 80.1$ 80.1$ Contingent liability on bills purchased for foreign correspondents 2,486 2,586 Commitments to make industrial advances 13,431 13,522 22,138 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 NOVEMBER 17, 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- 9,123,898 467,294 3,569,633 489,119 681,452 311,314 227,180 1,737,470 277,432 193,694 281,902 184,171 703,237 Redemption fund - F. R. notes 9,287 976 952 815 986 676 1,277 553 878 484 127 283 1,280 Other cash 325,221 31,369 84,998 24,892 24,871 19,315 12,465 38,255 15,561 8,701 21,409 13,474 29,911 Total reserves 9,458,406 499,639 3,655,583 514,826 707,309 331,305 240,922 1,776,278 293,871 202,879 303,438 197,928 734,428 Bills discountedi Secured by U.S.Gov't obligations, direct or fully guaranteed l4,4l4 1,040 5,958 2,047 821 387 2,566 315 255 100 157 224400 528 Other bills discounted 4,282 355 357 335 l4l 128 1,548 86 207 951 158 16 Total bills discounted 18,696 1,395 6,315 2,382 962 515 4,ll4 401 255 307 1,108 398 544 Bills bought in open market 2,831 206 1,007 293 269 110 99 354 78 54 80 80 201 Industrial advances 1199,,225566 22,,884444 44,,663388 33,,662200 793 1,829 134 767 239 701 484 1,107 2,100 U. S. Government securities: Bonds 738,073 53,775 212,664 62,400 71,848 38,731 32,337 8811,,221144 3322,,441188 23,922 36,108 28,736 63,920 Treasury notes 1,168,463 85,133 336,671 98,788 113,744 61,316 51,195 128,572 51,324 37,873 57,165 45,490 101,192 Treasurer bills 648,179 47,226 186,761 54,800 63,097 34,014 28,399 71,322 28,471 21,009 31,711 25,235 56,134 Total U.S.Gov't securities 2,554,715 186,134 736,096 215,988 248,689 134,061 111,931 281,108 112,213 82,804 124,984 99,461 221,246 Total bills and securities 2,595,498 190,579 748,056 222,283 250,713 136,515 116,278 282,630 112,785 83,866 126,656 101,046 224,091 Due from foreign banks 175 13 68 17 16 7 6 21 3 2 5 5 12 F. R. notes of other baiks 23,785 538 6,451 928 1,415 2,638 1,933 2,617 1,767 613 1,990 594 2,301 Uncollected items 736,957 70,542 185,599 56,871 69,177 62,389 27,036 100,072 31,883 21,636 39,706 35,737 36,309 Bank premises 45,365 3,010 9,987 4,847 6,241 2,719 2,201 4,610 2,349 1,510 3,165 1,363 3,363 All other assets 42,470 2,551 12,685 4,856 4,564 2,614 1,627 3,930 1,591 1,492 1,870 1,515 3,175 TOTAL ASSETS 12,902,656 766,872 4,618,429 804,628 1,039,435 538,187 390,003 2,170,158 444,249 311,998 476,830 338,l88ip03,679 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 OIJ N0V3£BER 17, 1937 (in thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,24-9,618 281,835 938,737 315,509 429,926 212,798 164,645 983,215 181,409 138,693 167,509 89,868 345,474 Depositsi Member bank - reserve account 6,922,400 364,260 3,041,733 359,424 453,325 225,895 169,682 991,345 198,818 130,209 245,725 185,667 556,317 U.S.Treasurer - General account 135,165 3,092 58,070 5,233 17,818 9,313 4,497 14,636 4,278 4,532 6,538 3,552 3,606 Foreign bank 266,227 19,497 95,563 26,174 24,571 11,485 9,348 30,981 8,012 6,143 7,745 7,745 18,963 Other deposits 237,178 3,118 176,446 6,193 13,414 3,671 2,907 2,395 5,585 2,360 306 2,464 18,319 Total deposits 7,560,970 389,967 :3 ,371,812 397,024 509,128 250,364 186,434 ]- ,039,357 216,693 1:4 3,244 260,314 199,428 597,205 Deferred availability items 742,234 70,954 186,485 58,419 68,263 60,053 26,087 102,511 35,578 20,653 38,982 37,765 36,484 Capital paid in 132,505 9,383 51,054 12,259 12,947 4,886 4,391 12,888 3,844 2,888 4,069 3,878 10,018 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) 27,615 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 35,709 1,570 9,117 3,000 3,121 1,497 1,691 7,694 1,174 2,020 941 1,847 2,037 All other liabilities 8,151 463 2,006 730 720 298 385 1,573 351 381 260 289 695 TOTAL LIABILITIES 12,902,656 766,872 4,618,429 804,628 1,039,435 538,187 390,003 2,170,158 444,249 311,998 476,830 338,1881,00^679 Contingent liability on bills purchased for foreign correspondents 2,486 181 897 244 229 107 87 288 75 57 72 72 177 Commitments to make industrial advances 13,431 1,826 4,903 135 861 1,675 350 10 183 50 115 3,054 MATURITY DISTRIBUTION OF BILLS AMD SECURITIES Within 16 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 5 Years 5 Years Bills discounted 18,696 16,903 180 403 277 894 39 Bills bought 2,831 544 539 1,451 297 Industrial advances 19,256 1,226 288 866 689 1,586 3,121 5,561 5,919 U. S. Government securities 2,554,715 31,255 32,103 51,768 145,392 364,831 389,913 211,298 640,915 687,240 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON NOVEMBER 17, 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 J Issued to F. R. bank by F.R.agent 4,615,443 332,760 1,059,083 334,069 460,525 226,051 183,l4l 1,012,307 194,823 144,805 178,730 97,960 391,189 Held by Federal Reserve bank 365,825 50,925 120,346 18,560 30,599 13,253 18,496 29,092 13,4l4 6,112 11,221 8,092 45,715 m ' In actual circulation 4,249,618 281,835 938,737 315,509 429,926 212,798 164,645 983,215 181,409 138,693 167,509 89,868 345,474 Collateral held by agent as security for notes issued to bank» Gold certificates on hand and due from U. S. Treasury 4,654,132 341,000 1,070,000 337,000 464,000 230,000 165,000 1,020,000 200,632 148,000 180,000 99,500 399,000 Eligible paper 18,195 1,395 6,285 2,251 962 490 3,898 401 255 242 1,075 397 544 U. S. Gov't securities 20,000 - - " 20,000 Total collateral 4,692,327 342,395 1,076,285 339,251 464,962 230,490 188,898 1,020,4)1 200,887 148,242 181,075 99,897 399,544 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis