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STATEMENT FOR THE PRESS Released for publication Friday morning, Feb* 1; not earlier. B-S01 Federal Reserve Board January 31, 1935• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve tank credit outstanding during the week ended January 30, as reported by the Federal Reserve banks, was $2,^66,000,000, a decrease of $2,000,000 compared with the preceding week and of $17^,000,000 compared with the corresponding week in I93H. On January 30 total Reserve bank credit amounted to $2,U60 f 000,000, a decrease of $3,000,000 for the w e e k . This decrease corresponds with an increase of $79,000,000 in monetary gold stock, offset in part by increases of $11,000,000 in money in circulation, $41,000,000 in member bank ' reserve balances, $13,000,000 in Treasury cash and deposits with Federal Reserve banks and $7,000,000 in nonmember deposits and other Federal Reserve accounts, and b y a decrease of $3,000,000 in Treasury and national bank currency. Holdings of bills discounted declined $2,000,000 and industrial advances increased $1,000,000. An increase of $5,000,000 in holdings of United States Treasury notes was offset by a decrease of $5,000,000 in Treasury b i l l s . Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended January 30» 1935> were as follows: Increase or decrease J a n . 30 1935 since J a n . 23 Jan. 31 1935 1934 (In millions of dollars) Bills discounted Bills bought U t S . Government securities Industrial advances (not including 12 million commitments - January 30) Other Reserve bank credit 7 6 2,^30 - 2 — - 76 -105 — - 4 17 -l +1 - u +17 - 3 TOTAL RESERVE BAI7K CR2DIT Monetary gold stock Treasury and national bank currency 2/460 S,3S7 2,497 - 3 +79 - 3 -170 +4,354 Money in circulation Member bank reserve balances Treasury cash and deposits with F.R.banks Nonmember deposits and other F.R.accounts 5,35S 4,542 +11 +4l +69 +1,890 3,007 436 +13 +7 +l95 +2,410 + g Helensed for publication Friday morning, February 1, 1935; n o t earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDE3AL RESERVE BAEKS COMBINED (In thousands of dollars) J a n . 30,1935 Jan. 23,1935 Jan. 31.191 5,350.959 15,875 280,320 5,281,298 17,39S 286,400 5,525,096 3,513,884 ^3,356 234,848 1,579 12,977 5,294 3,394 8,688 26,377 56,355 82,732 5,539 15,636 111,397 395,650 1,506,688 527,925 2,430,263 445,012 1,028,139 960,819 2,433,970 1,293 A S S E T S Gold certificates on hand and due from U . S . Treasury . . . . . . . . . Redemption fund- E.S.&oteg . . # . Other cash . . . . Total reserves . . . . . . • . . 5,614-7,154 ^Redemption fund - F . R . bank notes 1,986 Bills discounted: Secured by U.S.Gov't. obligations ,direct and/or fully guaranteed . • . • • . 3,55S 3,500 Other bills discounted . . . . . 7,05S Total bills discounted . . Bills bought in open market . • . 5,53S Industrial advances . . . . . . . ... 17,^93 U , S . Government securities: Bonds . 395,652 Treasury notes 1,511,693 Certificates and bills . . . . . • . . 522,925 Total U.S•Government securities . 2,430,270 — Other securities . . ... ... Total bills and securities Due from foreign banks . . . . . . F . R . notes of other banks . • . • Uncollected items Bank premises . . . . . . . . . . All other assets TOTAL ASSETS ... — 3,792,088 — 2,638,857 2,460,126 805 22,324 446,365 49,306 46,961 8,612,562 2,629,392 3,392 15,780 364,053 52,339 118,675 6,988,696 ... 3,068,172 25,697 3,066,915 25,603 2,926,243 203,057 ... 4,541,755 56,481 16,073 178,l4l 4,792,450 412,710 146,870 144,893 11,560 30,S20 5,685, 4,500,919 49,155 19,083 169,073 4,732,230 444,405 146,888 144,893 10,669 30,820 M59 8,612,562 2,651,945 241,860 3,952 137,27s . . . . 2,'4-60,359 S05 19,672 411,130 49,307 4s,444 L I A B I L I T I E S F . R . notes in actual circulation F . R . bank note circulation - net Deposits: Member bank - reserve account . U.S.Treasurer - General account Foreign bank Other deposits Total deposits . . . . Deferred availability items . . . Capital paid in S u m l u s (Section f) Surplus (Section 13 b) Reserve for contingencies . . . . All other liabilities . . . . . . TOTAL LIABILITIES . . . ... •. . ... ... ... ... Ratio of total reserves to deposit and F . R . note liabilities combined ... Contingent liability on bills purchased for foreign correspondents . . . ... Commitments to make industrial advances 2,638,S57 71.$ 71.656 317 317 11,739 11,109 3,035,035 366,476 145,359 138,383 22,523 151.620 6,988,696 63.6$ M 7 7 ASSETS JSJID LIABILITIES OP THE FEDERAL RESERVE B A M S Oil JAMJARY 30, 1935 (In thousands of dollars) A S S E T S Total Boston ITev; York Phila. CIeve. R i c h . Atlanta Chicago St.Louis B-SOlb Minn. Kans.Cy. Dallas San F r a n . Gold certificates on hand and due from U . S . Treasury 5,350,959 403,460 2,041,711 271,105 384,935 178,408 107,329 1,017,280 205,273 137,126 191,248 111,396 301,688 531 914 1,431 232 3,564 2,238 522 Redemption fund - E . R . notes 1,581 253 727 507 3,375 15,875 280,320 31,588 32,926 11,828 12,184 1 2 , 1 9 1 8,323 21,409 70,206 36,396 14,269 13,305 15,695 Other cash Total reserves 5,6U7,15^ ^35,570 2,112,644 309,739 400,785 193,144 12b,588 1,051,120 217,608 149,542 203,970 119,972 320,472 — — — — — — — — — Redemption fund - F.R.bank not es 1,986 250 1,736 Eills discounted: Secured by U.S.Gov't, obligations, — — 80 50 direct and/or fully guaranteed 3,558 2,0^6 466 106 28 15 237 395 125 — 14 3,500 16 435 64 Other bills discounted — 123 156 69 17 31 2,575 — 149 Total bills disco-anted 81 7,058 170 14 28 281 830 4,631 5S9 32 253 Bills bought in open market 4o4 651 105 84 149 2,102 <523 204 3S5 5,538 1^3 233 555 Industrial advances 653 1,267 1,225 1,834 1,064 1,134 479 1,019 1,817 633 17,^93 2,773 3,595 U . S . Government securities: Bonds 62,146 13,795 15,390 13,333 18,821 23,857 141,018 25,137 30,559 14,858 13,531 395,652 23,207 1 , 5 1 1 , 6 9 3 99,055 Treasury notes 477,501 ,105,049 134,418 65,3^6 59,446 273,635 58,494 37,16s 57,837 38,789 104,955 Certificates and bills 35,409 4s,047 522,925 92,562 20,911 13,096 20,674 13,865 37,519 23,358 21,251 159,299 36,93^ Total U.S.Gov't, securities 2,4^0,270 l^f,bfl 777,818 167,120 213,024 103,562 94,228 428,343 93,260 65,654 91,844 71,475 166,331 Total bills and securities 2,460,359 160,162 Due from foreign "banks 80R 60 J . R . notes of other banks 19,672 537 Uncollected items 411,130 43,645 Bank premises 3,168 ^9,307 A l l other assets 48,444 673 785,615 172,100 215,270 106,820 316 30 77 900 436 5,17S 3,390 97,953 33,581 4I,2D2 3^,970 11,508 3,028 4,4s6 6,629 34,148 5,252 1,557 1,337 95,650 430,275 97 2,022 56,269 4,955 925 67,555 6 691 9,530 1,580 745 92,775 22 1,520 23,178 3,447 340 72,o75 167,450 29 1,255 14,261 2,325 1,776 93,812 8 1,130 18,896 2,62s 237 TOTAL ASSETS 21 293 lo,3l4 1,684 873 56 2,320 21,271 3,869 581 8,638,857 644,065 3,049,098 525,677 666,4SO 342,719 2 4 i , s s 4 1,545,663 33^,319 229,649 325,252 212,032 522,019 ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAKES OH JAMJARY 30, 1935 (In thousands of dollars) L I A B I L I T I E S To tal Boston N e w York Phi l a . Cleve. F.R.notes in actual circulation 3*0b3,172 259,906 61+3,699 ?30,530 296,091 ? . R # b a n k note circulation - net 25? 697 1,114 24,583 Deposits: Member "bank - reserve account 4,541,755 30s,46? 2,033,1+33 21S,5Ug 283,899 1,903 9,949 1,066 U.S .Treasurer - G-eneral account 5^*^31 8,573 3.969 1,92b Foreign bank ib,073 1,331 1,775 117,610 5,029 4,207 Other deoosits 176 3,502 Total deDOsits 4,792,450 315,066 ;2,164,961 228,406 297,749 Deferred availability items 412,710 1+3,621 95,667 32,43s 40,805 Capital paid in 146,270 10,824 p9,701 1 5 , 1 3 1 13,144 144,293 9,902 Surplus (Section j) 49,964 13,470 14,371 11,560 2,09s 1,007 Surplus (Section 1 3 b ) 1,789 877 Reserve for contingencies 30,220 2,996 3,000 1,64s 7,501 5*625 2,145 608 313 All other liabilities 195 TOTAL LIABILITIES 2,632,257 644,065 3,049,092 525,677 666,4go Ratio of total reserves to der>osit and F . R . note liabilities combined Jl*8 Contingent liability on bills purchased for foreign correspondents 317 Commitments to malce industrial advances 11,739 75.8 75.2 67.5 R i c h . Atlanta 156,167 125,U36 128,665 7.671 703 1,855 138,894 34,779 4,969 5.186 1,251 l, 4l6 57 342,719 65.5 67.5 79,55^ 5,820 646 89,105 13,780 4,368 5,540 754 2,59s 303 241,884 59.0 B-SOlc Chicago St.Louis Minn. Ifens.Cy. Dallas San Fran. 762,607 136,685 101,S5l+ 113,059 1+8,230 193,908 676,357 11+6,269 100,712 177,9b2 128,986 258,908 3,336 192 2.1^9 4,238 8,763 2,321 51S 519 2,336 1.313 1+25 612 1,381+ 2,122 18,171+ 2,931+ 11,797 ,1+1+2 5 683,776 167,441 108,900 180,056 135,463 282,633 9,990 23,154 18,397 22,192 57,913 19,974 4,049 4,037 10,743 12,726 4,o46 3,132 4,655 3.420 9,645 21,350 3,613 3,777 896 1,003 293 626 381 585 807 1,211 2,062 893 5,325 1,363 1,070 241 224 139 139 251 1,545,663 334,319 229,649 325,252 212,032 522,019 71.6 72.7 69.6 71.0 23 116 31 30 12 11 37 10 1.721 4,727 293 1,326 592 734 53 1,207 8 8 9 28 — 6S.5 65.3 — 22 1,053 1.1A.TURITY DISTRIBUTION OF 3ILLS AHD SECURITIES Total Bills discounted Bills •bought u u ag. in open market Industrial advances U . F . Government securities 7,055 5,53S 17,.493 2,1+30,270 Within 15 days 5,1+lb 657 92 39,467 16 to 3O days 627 1,50b 146 36,222 31 to 60 days 635 386 1,184 175,030 6l to 90 days 352 2,989 901+ 172,177 91 days to 6 months Over 6 months 22 681+ 1+19,985 ll+,l+S3 1.587,389 FEDEHAL RESERVE NOTE STATSMEfTT Oil JAMJARY 30, 1935 (In thousands of dollars) Total Federal Reserve notes: Issued to F.R.'bank oy F.R.agent Held by Federal Reserve bank Boston Hew York Phi l a . Cleve. Rich. Atlanta Chicago St,Louis B-SOld Minn. Kans.Cy. Dallas San F r a n . 3,365,435 290,066 297,263 30,l60 7^3,23S 248,862 312,108 166,309 144,923 99,539 IS,332 16,017 10,142 19,487 792,084 140,927 107,125 122,915 29,477 4,242 5,271 9,556 53,307 243,571 5,077 49,663 In actual circulation 3,068,172 259,906 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and 3,258,370 301,617 due from U . S . Treasury Eligible paper 5,587 253 186,000 U . S . Govt, securities 643,695 230,530 296,091 156,167 125,436 762,607 136,685 101,854 113,059 1+8,230 193,908 788,706 216,500 282,215 139,3^0 83,085 800,513 141,936 109,000 124,020 114 — 32,000 30,000 29,000 65,000 7Q9 ,oUi 2ko t 2ib 312,sou 162,596 143,256 55,675 215,763 32 81 800,527 i4i,964 iog,ooo 124,134 •^0.000 55,707 245,S44 Total collateral 3,449,957 301,870 3.335 71^ 589 256 171 14 28 -- FEDERAL RESERVE BAFX NOTE STATEMSFT 01 JAKIIA.RY 30, 1935 (In thousands of dollars) Federal Reserve "bank notes: Issued to F a R.bank( out standing Held by Federal Reserve bank In circulation - net Collateral pledged against outstanding notes: Discounted and purchased bills U . S . Govt, securities Total collateral Total Boston Hew York Phila. 36,^99 10,802 1,511 397 24,7S0 197 10,20S 10,20S 25,697 1,11^4 24,523 42,074 5,000 25,074 12,000 42,074 5,000 25,074 12,000 Cleve. Rich. Atlanta Chicago St.Louis ~ Minn. Kans.Cy. Dallas San Fran, — *Does not include $74,016,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States,
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