H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PHESS Released for publication B-SOl Friday morning, Jan. 6; Federal Reserve Board not earlier. January 5> 1933* CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve "bank credit outstanding during the week ending January U, as reported by the Federal reserve "banks, was $2,152,000,00, a decrease of $37> 000*000 compared" With, the preceding week and an increase of $219,000,000 compared with the corresponding week in 1932. On January total reserve bank credit amounted to $2,163,000,000, a decrease of $5>000,000 for the week. This decrease corresponds with an increase of $19,000,000 in monetary gold stock and a decrease cf $18,000,000 in money in circulation, offset in part by an increa.se of $32,000,000 in member bank reserve balances. Holdings of discounted bills increased 000,000 at the Federal Reserve Bank of San Francisco, and declined $9,000,000 at Atlanta, $^,000,000 at Cleveland, $3,000,000 at Philadelphia and $16,000,000 at all Federal reserve banks. The System1s holdings of bills bought in open market and of United States Government securities show little change for the week. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January U, 1933> were as follows: Increase or decrease since Jan. k Dec. 28 Jan. 6 1933 1932 1.932 (in millions of dollars) Bills discounted 251 -16 - 567 Bills beught 33 — - 2U2 IJ. S. Government securities 1,851 +1,085 — Other reserve "bank credit 29 +12 - 32 TOTAL BES3RVE BANK CREDIT 2,163 - 5 + 2U2 Monetary gold stock U.52U +19 + 66 Treasury currency adjusted 1,S 38 — + 123 Money in circulation 5.669 -IS + s Member "bank reserve balances 2,51^ +32 + 47s Unexpended capital funds,nonmember deposits,etc. 402 — - 5^ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, January 6, 1*333? earlier. B-SOlc RESOURCES AHD LIABILITIES OF THE TVHLVE FEDERAL RESERVE BArXS COMBIHE"D (in thousands of dollars) Jan. 4,1933 Dec. 2b', 1932 Jan. 6, 1932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,344,625 2,335,3^5 2,074,541 Gold redemption fund with U.S.Treasury 40,496 40,831 5S,49S Gold held exclusively against F.R.notes 2,385.121 2,376,176 2,133,039 Gold settlement fund with F. R. Board . 342,098 346,342 358,436 426,013 Gold and gold certificates held by banks 446,137 494,077 Total gold reserves . . . 3,173,355 3,I4S,531 2,985,552 Reserves other than gold 179,925 173,322 173,635 Total reserves . . .. 3,353,284 3,321,853 3,159,187 }7on-reserve cash 82,554 s4,034 71,670 Bills discounted: Sec. "by U.S. Government obligations 71,219 77,760 451,987 Other bills discounted 179,SS3 189,622 365,979 Total bills discounted 251,102 267,322 817,966 Bills bought in open market . ,. . 32,617 33,307 275,306 U„ S. Government securities: Bonds 1+20,901 420,740 330,199 Treasury notes 296, 4i4 296,419 30,549 Certificates and bills . . .. 1,133,595 1,133,578 405,197 Total U.S. Government securities 1,850,910 1,850,737 765,945 Other securities 5,21s 5,649 29,094 2,157,075 Total bills and securities 2,139,847 1,888,311 72,63s Gold held abroad 61,12s 2,976 Due from foreign banks 2,977 8,662 14,775 F. B. notes of other banks 17,735 21,726 Uncollected items 453,654 356,736 475,253 Bank premises 53,844 5s,212 57,770 All other resources 39,606 36,831 33,752 TOTAL RESOURCES 6,209,629 6,105,130 5,716,331 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,735,45s 2,651,026 2,737,656 Deposits: Member bank - reserve account . . .. 2,51M51 2,4si,o74 2,036,072 Government 23,848 42,172 29,893 Foreign bank 18,853 19,053 64,645 Other deposits 30,224 20,339 38,809 Total deposits . . . . , 2,587,376 2,563,238 2,169,419 451,516 Referred availability items , 438,053 348,639 Capital paid in . . . 151,332 151,314 160,605 Surplus 278,599 259,421 259,421 All other liabilities 16,613 47,060 24,344 TOTAL LIABILITIES 6,209,629 6,105,130 5,716,331 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 63.0/0 62.7$ 65.5 i Contingent liability on bills purchased for foreign correspondents . . . .. 40,157 36,338 269,544 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AFD LIABILITIES OF THE FEDERAL RESERVE BAFTIS ON JAFUARY 1933 R E S O U R C ES (In thousands of dollars) B-801b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 2,344,625 196,027 588,080 152,500 192,970 72,950 60,000 704,870 73,805 44,o4o 61,480 21,640 176,263 Gold with Federal reserve agents Gold redemption fund with U.S.Treasuiy 40,496 2,123 6,155 5,>+97 5,23>+ 1,257 2,878 3,392 1,513 2,214 2,101 1,356 5,576 Gold held exclusively against F. R. notes 2,325,121 198,150 594,235 157,997 192,804 74,807 62,872 708,262 75,312 46,254 63,521 22,996 181,839 Geld settlement fund with F.R. Board 342,098 19,796 64,770 21,105 32,230 11,269 8,263 106,770 17,222 10,139 12,693 7,992 29,849 Gold and gold certif. held "by banks 446,137 14,454 320,514 7,616 18,814 3,227 9,060 28,009 2,685 2,360 9,562 4,236 25,5^0 Total gold reserves 3,173,356 232,400 979,519 186,718 249,84s 29,363 80,201 843,o4l 95,225 52,753 25,236 35,224 237,228 Reserves other than gold 179,928 16,797 53,314 19,624 11,341 8,840 5,110 26,795 9,636 4,547 6,613 8,167 9,144 Total reserves 3,353>224 249,197 1,032,833 206,342 261,189 92,203 25,311 869,836 104,861 63,300 92,449 >+3,391 246,372 Fon-reserve cash 82,554 5,090 21,230 4,262 6,012 3,239 4,828 18,165 3,654 2,011 3,042 3,^21 6,940 Bills discounted: Secured by U.S.Govt. obligations 71,219 3,208 29,563 11,777 8,105 2,248 1,739 3,848 350 443 482 4,682 Other bills discounted 179,223 8,788 29,111 35,603 13,936 13,287 14,542 12,167 2,874 9,190 10,752 4,349 24,684 Total bills discounted 251,102 11,996 52,674 47,320 22,041 16,135 16,281 16,015 7,648 9,5>+o 11,195 4,831 29,366 Bills bought in open market 32,617 2,2% 9,720 3,054 2,979 1,259 3,300 3,964 973 612 855 826 2,166 U. S. Government securities: Bonds 420,901 20,334 187,267 31,171 36,492 9,648 9,686 >+0,775 13,9^ 17,230 ll,77l+ 17,31>+ 25,270 Treasury notes 296,4l4 16,527 118,674 23,4O4 30,700 8,116 8,017 34,301 11,306 8,ll6 9,846 6,150 21,257 Certificates and bills 1,133,595 59,207 427,413 84,694 111,090 29,368 29,012 187,134 40,910 29,361 35,632 22,257 76,917 Total U.S.Govt, securities 1,250,910 96,668 733,35^ 139,269 172,282 47,132 46,715 262,210 66,156 54,707 57,252 45,721 123,444 Other securities 5,212 — 3,207 1,000 — — — — — 4ll — — — Total bills and securities 2,139,247 110,913 805,615 190,703 203,302 65,126 66,296 282,189 777 65,270 69,302 51,372 i5>+,976 61,128 61,128 „ Gold held abroad — — — -- — — Due from foreign banks 2,977 237 1,066 322 301 119 110 419 17 11 86 23 206 F. R. notes of other banks 17,735 372 6,944 362 1,226 1,452 804 2,393 i»4oi 627 851 300 997 Uncollected items 458,654 52,400 140,075 39,512 >+1,576 35,241 13,631 50,925 12,655 9,128 22,320 16,032 12,553 Bank: premises 53,244 3,280 12,818 2,929 6,929 3,237 2,422 7,595 3,285 1,7^5 3,559 1,7>+1 4,244 All other resources 39,606 930 20,506 1,107 1,881 3,035 M33 1,454 1,077 1,725 870 1,215 1,613 TOTAL RESOURCES 6,209,629 422,425 2,102,215 445,605 522,416 210,852 177,5354232,976 207,727 143,877 192,479 117,621 433,901 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE BANKS ON JAFJARY 4, 1933 L I A B I L I T I ES (in thousands of dollars) B-801c Total Boston ?Tew York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. F.R. nctes in actual circulation 2,737,65b 19^,032 584,006 23U,785 285,170 101,092 97,800 693,853 104,397 81,921 91,0 H6 38,894 228,610 Deposits: Member "bank - reserve account 2,514,451 139,036 l,227,4l4 124,231 142,564 52,525 45,730 421,734 64,553 40,061 65, 239 ^6,576 144,788 Government 23,848 2,094 2,730 1,053 3,211 1,562 1,186 4,939 1,617 1,298 850 710 2,598 Foreign bank 18,853 1,444 6,046 1,957 1.919 760 703 2,547 665 418 551 532 1,311 Other deposits 30,224 31 12,830 142 2,97^ 2,394 1,478 2,150 1,128 402 162 655 5,878 Total deposits 2,587»376 142,605 1,249,020 127,383 150,668 57,241 49,097 431,370 67,963 42,179 66,802 48,473 154,575 Deferred availability items 438,053 51,960 122,913 32,007 42,487 3M96 12,609 49,444 19,904 8,928 21,519 16,577 19.509 Capital paid in 151,332 10,856 58,619 16,045 14,100 5,150 4,732 16,157 4,360 2,885 M 52 3,924 10,452 Surplus 278,599 20,460 85,058 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 8.719 19,701 All other liabilities 16,613 ^62 2,599 143 1,697 1,557 2,753 2,655 917 945 797 _1,03'^. 1.054 TOTAL LIABILITIES 6,209,629 422,425 2,102,215 445,605 522,416 210,852 177,5351232,976 207,727 143,877 192, 479 117,621 433,901 Reserve ratio (per cent) 63.0 73.6 56.3 5577..00 5599..99 6622..00 5588..11 77.3 60.8 51.0 58. 6< 49.7 64.3 Contingent liability on bills purchased for foreign correspondents 40,157 3,050 13.107 4,134 4,053 1,605 1,485 5,378 1,405 883 i,i64 1,124 2,769 FEDERAL RESERVE 7T0TE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R. Agent 2,980,366 214,149 669,538 249,454 295,216 107,246 115,903 730,890 111,643 84,063 98, 686 42,751 260,827 Held by Federal reserve bank 242,710 18,067 85,532 14,669 10,046 6,154 18,103 37,037 7,246 2,142 _L - t 7 6 40 3,857 32,217 In actual circulation 2,737,656 196,082 584,006 234,785 285,170 101,092 97.800 693,853 104,397 81,921 91,046 38,894 228,610 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,089,365 47,010 454,080 78,290 71,470 18,380 14,000 262,870 23,805 13,540 9,680 12,240 84,000 Gold fund - F, R. Board 1,255,260 149,01/ 134,000 74,210 121,500 54,570 46,000 442,000 50,000 30,500 51,800 9,4OO 92,263 Eligible paper 235,401 11,974- 55,883 47,196 21,995 16,725 16,986 15,773 7,396 7,692 10,352 4,349 19,020 U. S. Gov't, securities 426,100 6,900 27,000 50,000 85,000 18,000 41,000 22,000 30,500 32,700 291000 17,000 67,000 Total collateral 3,006,126 214,901 670,963 249,696 299,965 107,735 117,986 742,643 111,701 84,432 100,832 42,989 262,283 MATURITY DISTRIBUTION OF BILLS A2JD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 251,102 175,810 18,722 28,164 17,79^ 1,^78 9,13^ Bills bought in open market 32,617 5,111 5,857 10,242 11,407 Certificates and bills 1,133,595 108,583 83,325 192,750 213,031 252,763 283,143 Municipal warrants 5,218 4,818 387 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis