H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Jan.. 27; Federal Reserve Board not earlier. January 26, 1933• CONDITION Of FEDEftAl RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending January 25 as reported by the Federal reserve banks, was f $2,080,000,000, a decrease of $2^,000,000 compared with the preceding week and an increase of $267,000,030 compared with the corresponding week in 1932* On January 25 total reserve bank credit amounted to $2,067,000,000, practically unchanged from a week ago. A decrease of $32,000,000 in member bank reserve balances was offset by increases of $9,000,000 in money in circulation and $14,000,000^1^ unexpended capital fundsnonmember deposits, etc., and a decrease t of $10,000/S monetary gold stock. Holdings of discounted bills increased $12,000,000 at Segi Francisco and $16,000,000 at all Federal reserve banks* The System's holdings of bills bought in ope^n market and of United States Government bonds show practically no change for the week, while holdings of Treasury notes increased $9000,000 and those of f Treasury certificates and bills decreased $2*+,000*000. Changes in the amoomt of reserve.bank credit outstanding and in related items during the week and the year ending January 25, 1933* were as follows: Increase or decrease since Jan. 25 Jan. 18 Jan. 27 j- m— 1933 1932 (In millions of dollars) Bills discounted 265 + 16 _ 573 Bills bought 31 - 1 - 131 U.S. Government securities 1,763 - 15 +1, 011 Other reserve bank credit 7 - 2 - 39 TOTAL EESEHFS BAM CREDIT 2,067 - 1 + 269 Monetary gold stock ^,556 - 10 + 130 Treasury currency adjusted 1,912 + 1 + 136 Money in circulation 5,611 + 9 + 22 Member bank reserve balances 2,513 - 32 + 562 Unexpended capital funds,nonmember deposits,etc. Ull + lH - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, January 27,1933;no't earlier. B-SOlc RESOURCES ATD LIABILITIES OF THE TWELVE: FEDERAL RESERVE BAKES COMBIIT3D (In thousands of dollars) Jan. 25,1933 Jan. 18,1933 Jan, 27,1932 R E S O U R C ES Gold with Federal reserve agents . . . .. 2,390,103 2,377,803 2,063,879 Gold redemption fund with U.S. Treasury . 37,736 39.233 59,493 Gold held exclusively against F.R.notes 2,427,839 2,417,036 2,123,372 Gold settlement fund With F. R. Board . . >+32,095 408,070 333,756 Gold and gold certificates held by "banks . 39S,767 411,335 529,853 Total gold reserves . . . .. 3,252,701 3,236,441 2,986,986 Reserves other than gold 201/498 198,238 198,520 Total reserves . . . .. 3,460,199 3,^,679 3,185,506 86,443 87,570 77,315 Bills discounted: Sec. by "J. S. Government obligations . . 68,51+3 66,496 451,664 Other bills discounted 196,155 182,172 385,975 Total bills discounted . . .. 264,698 248,668 837,639 Bills bought in open market 31^96 31.926 162,261 U. S. Government securities: Bonds 1+20,890 420,755 320,383 Treasury notes . 319,760 310,426 51,070 Certificates and bills 1,022,661 1,047,012 380,263 Total U.S. Government securities . . 1,763,311 1,778,193 751,716 Other securities 4,526 4,597 36,296 Total bills and securities . . .. 2,064,031 2,063,384 1,787,912 Gold held abroad 13,589 51,091 — Dae from foreign banks 3,259 8,608 3 Ml F. R. notes of other banks 15,1+52 16,311 15,748 Uncollected items 300,746 344,921 353,251 Bank premises 53,380 53,880 57,819 All other resources 46,838 42,281 37,351 TOTAL RESOURCES 6,044,665 6,097,376 5.523,510 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2.705,667 2,697,295 2,627,296 Deposits: Member bank - reserve account 2,513,199 22,,554455,,115511 11,,994455,,221177 Government 12,811 17,842 38,555 Foreign bank . . .. 33,640 20,539 79,937 Other deposits 27,554 24,340 35,783 Total deposits . . .. 2,587,244 2,607,872 2,099,492 Deferred availability items . . . . .. 301,65s 343,716 352,001 Capital paid in 151,201 151,288 159,233 Surplus 278,599 278,599 259,421 All other liabilities 20,296 18,606 26,067 TOTAL LIABILITIES . . . 6,044,665 6,097,376 5,523,510 Ratio of total reserves to deposit and F. R. note liabilities combined . .. 65.4$ 64. 67.4$ Contingent liability on bills purchased for foreign correspondents 4411,,883311 40,724 304,777 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A1TD LIABILITIES OF THE FEDERAL RESERVE BAI1KS OK JAEUART 25, I933 R E S O U R C ES (In thousands of dollars) B-801b Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,390,103 200,327 573.293 163,500 189,970 75,000 6l,400 708,510 104,155 44,490 66,480 19,715183,263 Gold redemption fund with U.S.Treasury 37,736 1,902 5.333 5.195 5.588 1,719 2,750 2,917 1,405 2,156 1,985 1,293 5,^8 Gold held exclusively against F. R. notes 2,427,839 202,229 578,631 168,695 195,558 7766,,771199 6644,,115500 711,427 105,560 4466,,664466 6688,,446655 21,008 188,751 Gold settlement fund with F.R.Board 432,095 39,710 126,010 23,834 28,302 11,313 5,864 120,969 14,620 9,801 16,935 9,387 25,350 Gold and gold certif. held by ba>iks 398,767 15,064 281,449 7,828 18,818 2,876 8,743 24,821 2,493 1,85s s,o4o 3,830 22,947 Total gold reserves 3,258,701 257,003 986,090 200,357 242,678 90,908 78,757 857,217 122,673 58,305 93,440 34,225 237,048 Reserves other than gold 201,49s 18,373 64,616 21,044 13,576 10,360 5,844 27,375 9,508 4,409 7,255 8,630 10,503 Total reserves 3,460,199 275,381 1,050,706 221,401 256,254 101,268 84,601 884,592 132,181 62,714 100,695 42,855 247,551 Non-reserve cash 86,443 6,73^ 25,660 4,474 5,012 3,856 5,197 15,323 3,765 2,361 2,582 4,317 7,162 Bills discounted: Secured by U.S.Govt, obligations 65,543 3,493 27,057 10,925 9,770 1,784 1,667 3,809 3,295 358 694 313 5,373 Other bills discounted 196,155 8,479 31,624 36,690 17,009 13,994 15,851 12,083 4,217 10,204 10,878 3,749 31,377 Total bills discounted 264,69s 11,977 58,681 47,615 26,779 15,778 17,518 15,892 7,512 10,562 11,572 4,062 36,750 Bills bought in open market 31.^96 2,161 9,561 3,115. 2,921 1,651 2,790 3,84s 946 640 S56 856 2,151 U. S. Government securities: Bonds 420,890 20,251 187,053 31,053' 36,339 9,605 9,579 41,176 13,882 17,147 11,826 17,814 25,160 Treasury notes 319,760 17,818 127,135 25,233 33,097 8,750 8,644 37,503 12,188 8,743 10,615 7,H7 22,917 Certificates and bills 1,022,661 53,^80 384,251 75,73*+ 99,338 26,264 25,944 172,823 36,585 26,237 31,861 21,361 68,783 Total U.S. (Sovt. securities 1,763,311 91,549 693,444 132,020 168,774 44,619 44,167 251,502 62,655 52,127 54,302 46,292 116,S60 Other securities 4,526 — 3,488 1,025 — — — — — 13 — — — Total bills and securities 2,064,031 105,687 770,174 133,775 198,474 62,048 64,475 271,242 71,113 63,3^2 66,730 51,210 155,761 Gold held abroad 13,589 — 13,539 — .... — — — — — Due from foreign banks 3,487 228 1,600 328 295 116 104 4o6 16 11 37 £7 209 F. R. notes of other banks 15,452 2y2 5,796 251 842 1,268 i,i4o 1,744 1,001 221 1.196 354 1,3^7 Uncollected items 300,746 33,383 SO,434 25,292 28,986 25,951 8,915 34,413 13,93s 7,013 15,630 11,295 15,^91 Bank premises 53,880 3,280 12,318 3,024 6,929 3,237 2,422 7,595 3,285 1,746 3,559 1,741 4,244 All other resources 46,83s 625' 23,926 1,078 1,947 3,02t) 5,930 1,552 1.5^ 1,929 1,205 1,536 2,550 TOTAL RESOURCES 6,044,665 425,616 1,984,703 439,623 498,739 200,769 172,784 l,2l6,8Gf 226,833 139.337 191,684 113,3*5 434,315 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JANUARY 25, 1933 L I A B I L I T I ES (in thousands of dollars) B-SOlc Total Boston New York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. P.R.notes in actual circulation 2,705,667 184,905 5^5,077 227,711 276,590 96,733 97,832 631,940 133,763 Si,126 93,317 36,474 240,199 Deposits: Member bank - reserve account 2,513,199 172,323 1,1S6,74S 137,783 143,232 56,164- 43,S67 U21.299 58,863 38,579 68,079 46,887 139,320 Government 12,S11 553 788 ^33 1,150 1,650 823 3,277 266 i+4o 79 2,531 821 Foreign bank 33,640 2,442 11,361 3,512 3,312 1,305 1,171 4-, 34-9 1,137 769 970 970 2,3^2 Other deposits 27,59** 66 171 1.^66 1,598 l,4l0 2,333 l,4lS 548 426 183 4,290 Total deposits 2,587,244 175,389 1,212,682 I4I,899 14-9,110 60,717 ^7,271 431,25s 6i,6s4 40,336 69,55^ 50,571 146,773 Deferred availability items 301,65s 33,^32 79,004 24,429 28,831 ' 24-, 883 9,530 35,1^6 15,357 6,975 15,706 12,266 16,099 Capital paid in 151,201 10,830 53,612 16,033 l4,l42 5,158 4,709 15,112 4,360 2,873 4,039 3,918 10,415 Surplus 278,599 20,460 85,05c 29,242 28,294 11,616 10,544 . 39,^97 10,186 7,019 8,263 8,719 19,701 All other liabilities 20,296 600 ^,270 309 1,772 1,662 2,898 2,914 1,^83 1,008 S05 1,447 1,128 TOTAL LIABILITIES 6,044,665 425,616 1,984,703 439,6; 49s,739 200,769 172,784 1,216,867 226,833 139,337 191,6s4 113,395 ^34,315 Reserve ratio (per cent) 65.4 76.4 59.8 59.9 60.2 64.3 58.3 78.8 67.6 51.6 61.8 49.2 64.0 Contingent liability on bills purchased for foreign correspondents 41,831 2,975 1^,693 4,279 M 34 1,589 1,^26 5,297 1,385 937 1,182 1,182 2,852 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R. Agent 2,933,505 204,735 617,744 241,406 288,197 103,314 116,196 721,624 142,042 83,497 102,19s 4o,6l8 271,934 Held by Federal reserve bank 227,S38 19,830 72,667 13,695 11,607 6,581 18,364 29,oS4 8,279 2,371 S.GSl 4,144 31.735 In actual circulation 2,705,667 134,905 5^5,077 227,711 276,590 96,733 97,832 $ 9 1 ,1 3 3 , 7 63 51,126 93,317 36,474 240,199 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,124,75s 47,010 484,293 78,290 71,^70 18,345 13,900 264,510 23,^5 13,990 10,630 12,315 86,000 Gold fund - F. R. Board 1,265,345 153,317 89,000 85,210 118,500 56,155 ^7,500 444,000 80,700 30,500 55,800 7,400 97,263 Eligible paper 249,096 11,917 55,570 47,480 26,735 16,211 17,676 15,638 7,3^3 9,224 10,322 3,832 27,1^8 U. S. Gov't, securities 325,600 — — 31,000 75,000 13,000 39,000 30,600 30,700 26,000 17,300 63,000 Total collateral 2,964,799 212,244 628,863 241,980 291,705 104,211 118,076 724,148 142,098. 84,414 102,802 40,847 273,411 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES - - 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days g months Over 6 months Bills discounted 264,698 187,706 19,352 27,967 19,225 9,052 1,396 Bills bought in open market 31,496 4,7^6 6,864 9,302 10,584 Certificates and bills 1, 022,661 72,975 73,550 249,282 57,250 277,763 291,841 Municipal warrants 4,526 4,488 13 ~ 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis