H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Jan. 20; Federal Reserve Board not earlier. January 19, 1933. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending JanuarylS, as reported by the Federal reserve banks, was $2,10^,000,000, a decrease of $42,000,000 compared with the preceding week and an increase of $266,000,000 compared with the corresponding week in 1932. On January IS total reserve bank credit amounted to $2,068,000,000, a decrease of $38,000,000 for the week. This decrease corresponds with decreases of $29v000,000 in member bank reserve balances and $5»000,000 in unexpended capital funds,nonmember deposits, etc., and an increase of $17,000,000 in monetary gold stock offset in part by an increase of $13,000,000 in money in circulation. The System1s holdings of discounted bills, of bills bought in open market, and of United States G-overnment bonds show little change for the week while holdings of United States Treasury notes increased $9,000,000 and those of Treasury certificates and bills decreased $1+3,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January 18, 1933» were as follov/s: Increase o*r decrease since Jan. IS Jan. 11 Jan . 20 1933 1933 1932 (In millions of dollars) Bills discounted 2U9 + 1 ILIL 570 Bills bought 32 — - 156 U. S. Government securities 1.77S - 3^ +1 ,027 Other reserve bank credit 9 39 - >+ - TOTAL RESERVE BANK CREDIT 2,06S - 3S + 261 Monetary gold stock 4,566 +17 + 116 Treasury currency adjusted 1.911 + 1 + 126 Money in circulation 5,602 +13 11 Member bank reserve balances 2,5^5 - 29 + 573 Unexpended capital funds,nonmember deposits,etc,. 397 - 5 61 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, January 20,1$33'> not earlier. B-SOlC RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Jan. 18,1933 Jan. 11,195.3 Jan.20,1932 R E S O U R C ES Gold with Federal reserve agents . . . * 2,377,803 2,3^5,320 2,056,234 Gold redemption fund with U.S.Treasury , 39,233 39,7^2 59,493 Gold held exclusively against F.R.notes 2,417,036 2,385,062 2,115,727 Gold settlement fund with F. R* Board . 403,070 1+05,282 363,410 Gold and gold certificates held by banks 411,335 1+32,189 526,777 Total gold reserves ; . . 4 . . 3,236,441 3,222,533 3,005,914 Reserves other than gold 198,23s 195,112 189,717 Total reserves 3,^,679 3,1+17,61+5 3,195,631 Non-reserve cash . . i ; < . 27,570 91,61+7 76,387 Bills discounted: Sec. by U.S. Government obligations . 66,1+96 *66,3S3 438,545 Other bills discounted 182,172 *181,76S 380,441 Total bills discounted 248,668 21+8,151 818,986 Bills bought in open market 3311,,992266 32,362 188,04l U. S. Government securities: Bonds 420,755 1+20,763 320,213 Treasury notes . 310,426 301,1+06 33,557 Certificates and bills 1,047,012 1,090,219 397,698 Total U.S. Government securities 1,812,388 751,468 1,778,193 Other securities 5,102 36,846 4,597 Total bills and securities < 2,063,38^ 2,098,003 1,795,3^1 Gold held abroad 51,091 51,091 Due from foreign banks . 3,259 2,982 8,597 F. R. notes of other banks . . . . * . 16,311 17,951 19,137 Uncollected items 344,921 339,550 431,387 Bank premises . . . 53,?so 53,880 57,813 All other resources 42,281 40,39!+ 36,371 TOTAL RESOURCES 6,097,376 6,113,143 5,620,664 L I A B I L I T I ES F. R. notes in actual circulation . . 2,697,295 2,687,021+ 2,642,140 Deposits: Member bank - reserve account . . . 2,5^5,151. 2,573,944 1,971,564 Government 17,842 21,430 26,146 Foreign bank 20,539 20,629 81,830 Other deposits 24,340 28,468 26,335 Total deposits 2,607,872 2,644,471 2,105,925 Deferred availability items 31+3,716 334,256 428,687 Capital paid in 151,288 151,309 159,459 Surplus i i . . . . . . .. 278,599 278,599 259,421 All other liabilities . 18,606 17,484 25,032 TOTAL LIABILITIES 6,097,376 6,113,143 5,620,664 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 64.7$ 64.1$ 67.3$ Contingent liability on bills purchased for foreign correspondents 1+0,721+ 39,932 285,299 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HE SOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BAMS OF JANUARY IS, 1933 R E S O U R C ES (In thousands of dollars) B-SOIb Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,377,803 193,327 593,293 155,500 187,970 71,500 59,500 696,910 111,005 42,490 62,480 23,065 180,763 Gold redemption fund with U.S.Treasury 39»233 1,9^1 5,649 5,318 5,616 1,849 3,062 3,200 1,447 2,187 2,076 1.343 5,545 Gold held exclusively against F. R. notes 2,1+17,036 195,268 598,942 160,818 193,586 73,3^9 62,562 700,110 112,452 44,677 64,556 24,408 186,308 Gold settlement fund with F. R. Board 408,070 17,677 137,020 18,470 29,563 10,561 6,941 118,052 16,487 11,828 1^,753 6,625 20,093 Gold and gold certif. held by hanks 411,335 14,827 289,713 S,04S 18,850 3,^03 8,674 24,860 2,510 1,957 8,380 4,005 26,108 Total gold reserves 3,236,441 227,772 1,025,675 187,336 241,999 27,313 78,177 843,022 131,449 58,462 87,689 35,038 232,509 Reserves other than gold 198,23s 18,850 61,525 20,835 13,344 10,043 5,707 27,978 8,927 4,657 7,120 8,419 10,773 Total reserves 3,U3U,679 246,622 1,087,200 208,171 255,31+3 97,356 83,884 871,000 140,436 63,119 94,809 43,457 243,282 ITon-re serve cash 27,570 6,4o4 26,278 4,205 5,262 3,963 4,577 15,420 3,^67 2,232 2,904 3,622 9,236 Bills discounted: Secured by U.S.Govt, obligations 66,1+96 3,593 26,271 10,898 7,657 2,084 1,612 3,655 4,190 317 467 283 5,469 Other bills discounted 182,172 8,626 30,077 35.900 17.049 13.687 16,106 11.260 4,833 10,047 10.971 3,909 19,707 Total bills discounted 21+8,668 12,219 56,3^2 46,792 24,706 15,771 17,718 14,915 9,023 10,364 11,438 4,192 25,176 Bills bought in open market 31,926 2,161 9,724 3,H5 2,920 1,727 2,911 3,248 946 640 S56 S56 2,162 U. S. Government securities: Bonds 1+20,755 20,251 127,592 31,054 36,332 9,606 9»5io 41,175 13,882 17,123 11,726 17,278 25,160 Treasury notes 310,1+26 17,273 124,147 24,461 32,085 8,482 2,379 36,356 11,816 8,492 10,290 6,429 22,216 Certificates and bills 1,01+7,012 54,900 394,753 77,743 101,975 26,960 26,632 175,812 37.555 26,932 32,707 20.434 70.609 Total U.S. Govt, securities 1,772,193 92,424 706,492 133,252 170,392 45,O4S 44,521 253,3^3 63,253 52,607 5^,723 44,l4l 117,925 Other securities M97 — 3,552 1,025 — — — — •14 Total bills and securities 2,063,331+ 106,so4 776,182 184,196 198,024 62,546 65,150 272,106 73,222 63,625 67,017 49,189 145,323 Gold held abroad 51,091 — 51,091 — -- — — — -- Due from foreign banks 3,259 '228 1,372 328 295 116 104 4o6 16 11 27 27 209 F. R, notes of other banks 16,311 270 6,524 321 936 1,168 708 2,042 612 384 1,402 194 1,750 Uncollected items 3l+l+,921 40,071 95,239 28,S6l 33,655 26,656 8,950 40,811 14,499 7,528 17,676 12,733 17,642 Bank premises 53,280 3,280 12,818 3,024 6,929 3,237 2,422 7,595 3,285 1,746 3,559 1,741 4,244 All other resources 1+2,281 667 22,261 1,105 1,985 3,045 ^,092 1.527 1,550 1,979 945 1,442 1,683 TOTAL RESOURCES 6,097,376 404,346 2,079,565 1+30,211 502,U29 198,087 169,887 1,210,907"237,087 140,624 188,399 112,465 423,369 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE"BAMS' OT JAJTJftHY IS, 1933 3-801c L I A B I L I T I ES (in thousands of dollars) Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Boston New York Phi la. Cleve. F.R.notes in actual circulation 2,697,295 127,094 556,056 229,520 278,37 97,318 96,791 685,293 137,085 Deposits: Member "bank - reserve account 2,5^5,151 142,220 1,264,534 124,749 140,105 52,961 43,131 417,874 62,752 38,666 65,057 46,051 147,051 Government 17,84-2 2,022 732 1,003 2,869 277 894 2,394 3,006 1,520 1,601 494 530 Foreign banlc 20,539 1,421 7,570 2,045 1,928 759 682 2,531 662 448 565 565 1,363 Other deposits 24,3^0 24 9,280 116 1,853 2,591 926 2.257 1.959 377 163 235 4,559 Total deposits 2,607,372 145,687 1,282,116 127,913 146,755 56,53s 45,633 425,556 68,379 4l,011 67,386 47,345 153,503 Deferred availability items 343,716 39,741 94,007 27,254 33,101 25,686 9,303 41,704 15,974 7,719 17,427 i4,ioo 17.700 Capital paid in 151,288 10,830 58,618 16,023 14,157 5,158 4,726 16,145 4,360 2,886 4,043 3,918 10,424 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 18,606 3,710 25a 1,746 1,721 2,890 2.712 1.103 1.009 769 1.079 1,074 TOTAL LIABILITIES 6,097,376 404,346 2,079,565 430,211 502,429 198,087 169,887 1,210,907 237,087 140,624 188,399112,465 423,369 Reserve ratio (per cent) 64.7 74.1 59.1 5S.2 60.1 63.3 58.9 78.4 68.4 51.7 60.0 51.3 65.0 Contingent liability on bills purchased for foreign correspondents 40,724 2,975 13,586 4,279 4,034 1,589 1,426 5,297 1,385 937 1,182 1,182 2,852 FEDERAL RESERVE FOTE STATEMENT federal reserve notes: Issued to F.R.Bank by F.R. Agent 2,932,263 207,502 628,693 243,646 290,910 104,147 114,783 718,792 145,631 83,733 97,992 4i,640 254,794 Held by Federal reserve bank 234,968 20,408 72,637 14.126 12.534 6.829 17.992 33.499 8,546 2.753 7.481 4.336 33.827 In actual circulation 2,697,295 187,094 556,056 229,520 278,376 97,313 96,791 685,293 137,085 80,980 90,511 37,304 220,967 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,122,158 47,010 434,293 78,290 71,470 18,345 14,000 264,910 23,505 13,990 10,680 12,165 83,500 Gold fund - F. R. Board 1,255,645 146,317 109,000 77,210 116,500 53,155 45,500 432,000 87,500 28,500 51,800 10,900 97,263 Eligible paper 233,636 12,202 53,467 46,664 24,595 16,293 18,084 14,649 8,750 8,835 10,758 3,788 15,551 U. S. Gov't, securities 354.600 2.900 42.000 80.000 17.000 39.000 10.000 26.000 32.700 27.000 15,000 63,000 Total collateral 2,966,039 208,429 646,760 244,164 292,565 104,793 116,584 721,559 145,755 84,025 100,233 41,353 259,314 MATURITY DISTRIBUTION OF BILLS AED SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to9 0 days Over 6 months 6 months Bills discounted 248,668 171,772 20,135 27,648 18, 398 9,350 1,365 Bills bought in open market 31,926 5,161 6,637 10,157 9, 971 Certificates and bills 1,0 47,012 83,325 87,800 274,231 54, 250 252,763 294,643 Municipal warrants 4,597 4,558 l4 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis