H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, Feb, 10; Federal Reserve Board 9, 1933• not earlier, February CONDITION OF FEDERAL RESERVE MrTKS The daily average volume of Federal reserve bank credit outstanding during the week ending February g, as reported by the Federal reserve banks, was $2,069,000,000, a decrease of $10,000,000 compared with the preceding week and an increase of $262,000,000 compared with the corresponding week in 1932. On February S total reserve bank credit amounted to &2 085,000,000, an inf crease of $15,000,000 for the week. This increase corresponds with an increase of $53»000,000 in money in circulation and a decrease of $13,000,000 in monetary gold stock, offset in part by an increase of $33*000,000 in Treasury currency, adjusted, and a decrease of $19,000,000 in member bank reserve balances. Holdings of discounted bills declined $13,000,000 at the Federal Reserve Bank of San Francisco, $4,000,000 at Hew York and $16,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market and of United States bonds show no change for the week, while holdings of United States Treasury notes increased $65,000,000 and those of Treasury certificates and bills decreased $45,000,000.' Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 8, 1933, ^ere as follows: Increase or decrease since Feb. g Feb. 1 Feb. 10 J 1L 193? (In millions of dollars) - 16 - 566 Bills discounted 253 Bills bought - 13s 31 — + 20 U. S. Government securities +i,oU3 Other reserve bank credit + 10 17 - 31 TOTAL RESERVE BAM CREDIT 2,035 + 15 + 306 Monetary gold stock 4,555 - 13 + 132 Treasury currency adjusted 1.91S + 33 + 15U Money in circulation 5,705 + 53 + 79 Member bank reserve balances 2,419 - 19 + 51U Unexpended capital funds,nonmember deposits,etc. 413 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 10,1933; earlier. B-SOlc EESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBIFED (In thousands of dollars) Feb. S.1933 Feb. 1,1933 Feb. 10,1932 R E S O U R C ES Gold \7ith Federal reserve agents . ; . . . 2}469,982 2,414,852 2,071,979 Gold redemption fund with U.S.Treasury . i 35,7 44 , 37,148 56,962 Gold held exclusively against F.R.notes 2,505,726 2,452,000 2,128,941 Gold settlement fund with F. R. Board . . 397,699 427,415 317,192 Gold aiid gold certificates held by banks . 3^3,699 375,759 521,085 Total gold reserves . . .. i .. . 3,21+7,124 3,255,174 2,967,218 Reserves other than gold . . . . 195,227 201;413 156,277 Total reserve::- 3,442,351 3,456,587 3*163,495 "Ton-reserve cash 79,729 78,796 75, t>66 Bills discounted: Sec. by U.S. Government obligations . . 62,914 66,737 450,326 Other bills discounted . 189,726 201,953 369,109 Total bills discounted 252,640 268,690 819,435 Bills bought in open market . 31,338 31,338 169,391 U. S. Government securities: Bonds 420,894 421,173 320,110 399,171 333,895 69,530 Certificates and bills 963,347 1,008,547 351,794 Total U.S. Government securities . . 1,783,912 1,763,615 741,434 Other securities 3,435 3,415 33,451 Total bills and securities . . . 2,071,325 2,067,05s 1,763,711 Due from foreign banks 3,539 3,505 S, 60S F. R. notes of other barks 10,954 11,835 12,802 Uncollected items 302,43s 329,504 345,551 Bank premises 53,962 53,SCO 57,821 All other resources 50,977 47,314 39,335 TOTAL RESOURCES 6,015,285 6,048,979 5,466,989 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2,773,192 2,729,971 2,661,959 Deposits: Member bah!: - reserve account . . . .. 2,419,399 2,437,705 1,904,914 Government 12,128 36,520 48,331 Foreign bank 44,930 37, 46,582 Other deposits 23,213 27,972 21,255 Total deposits . . . .. 2,499,670 2,539,739 2,021,082 Deferred availability items 292,664 329,894 339,168 151,034 151,036 158,362 Surplus 278,599 273,59° 259,421 All other liabilities . 20,126 19,690 26,997 TOTAL LliiBILITIES 6,015,285 6,048,979 5,466,989 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 65.6fo 67.6^ 65-3S6 Contingent liability on bills purchased for foreign correspondents 39,682 4o,655 331199,,229944 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCE A'TD LIABILITIES OP THE FEDERAL RESWE BAH[3 OF FEBRUARY 8, 1933 R E S 0 U R C E S (In thousands of dollars) B-801b Total Boston Hew York PMla. Cleve. Rich.. Atlanta Chicago St.Louis Minn. Kar.s.Cy. Dallas San Fran, Gold with Federal reserve agents 2,1+69,982 200,327 586,707 167,300 185,970 85,500 7o,190 718,210 107,890 47,090 80,280 18,255 196,263 Gold redemption fund mth U.S.Treasury 35,744 1,8*45 4,939 4,277 5.401 1>512 3,180 2,747 1,369 2,139 1,925 1,256 5,154 Gold held exclusively against P. R. notes 2,505,726 202,172 591,61+6 171,577 191,371 87,012 79,370 720,957 109,259 4S,22- 82,205 19,5H 201,417 Gold settlement fund with F.R. Board• 397,699 34,347 91,661 26,081+ 31,902 18,172 6,537 100,236 14,794 10,019 18,410 11,020 33,967 Gold and gold certif. held "by banks 31+3,699 1M03 23MI+S 7,581+ 18,636 2,981 7,348 25,583 2,114 1,937 7,782 2,436 18,647 Total gold reserves 3,21+7,121+ 251,522 917,1+55 205,21+5 21+1,909 108,165 93,305 846,776 126,167 61,185 108,397 32,967 254,031 Reserves other than gold 195,227 i7,7Si+ 61+, 800 21,1+07 12,913 9,937 4,528 25,85s 8,805 3,950 6,297 8,237 10,711 Tota<l reserves 3,1+1+2,351269,306 982,255 226,652 254,822 118,102 97,833 372,634 134,972 65,135 114,694 4l,204 264,742 "^on-reserve cash 79,729 6,003 22,671 4,196 1+.035 3,i4o 4,4i6 15,091 3,900 2,325 2,464 4,025 7,463 Bills discounted-: Secured by U»S.Govt, ^obligations 62,911+ 3,213 23,701+ 10,817 9,199 1,1+51 1,459 3,550 2,636 285 651 297 5,602 Other bills discounted 139,726 8,169 30,338 35,321+ i7,7Si+ 14,51+5 16,269 14,206 2,869 9,963 13,787 3,629 22,338 Total bills discounted 252,61+0 11,3^2 5l+,0l+2 l+6,ll+l 26,933 15,996 17,728 17,756 5,555 10,253 14,43s 3,926 23,440 Bills bought in open market 31,33s 2,125 9,81+1 3,063 2,965 1,733 2,293 3,783 947 640 342 842 2,264 U. S. Government securities: Bonds 1+20,891+ 20,31+1+ 136,620 31,011 36,345 9,699 9,663 41,165 13,305 17,199 11,305 17,375 25,258 Treasury notes 399,171 22,179 159,79^ 31,21+2 1+1,055 10,957 10,851 46,497 15,I4I 10,8<^5 13,141 8,897 28,532 Certificates and bills 963,81+7 50,589 357,592 71,261 93,61+0 24,593 24,751 166,313 3^,536 24,827 29,974 20,293 65,073 Total U.S. Govt, securities 1,733,912 93,112 70l+,00o 133,511+ 171,040 45,649 45,270 253,975 63,582 52,5H 54,920 47,065 118,368 Other securities 3,^35 — 2,897 525 — — — — — 13 — — — Total bills and securities 2,071,325 106,619 770,786 183,21+3 200,983 63,373 65,291 275,51^ 70,084 63,817 70,200 51,833 149,572 Due from foreign banks 3,539 263 1,323 386 3^7 137 123 47s 17 11 102 102 245 P. R. notes of other banks 10,961+ 21I+ 3,Ol+3 221 635 444 734 1,910 957 248 1,214 276 1,01S 302,1+38 32,050 25,221 15,926 Uncollected items (J7,288 26,332 24,635 9,719 34,959 14,069 5,583 10,322 15,829 Bank premises 53,962 3,280 12,818 3,106 6,929 3,237 2,422 7,595 3,235 1,746 3,559 •1,7^1 4,244 All other resources 50,977 61+1 25,391 1+.585 1,925 3,025 5,345 1,576 1,235 2,044 1,208 1,495 2,007 496,013 216,09s 228,519 209,367 TOTAL RESOURCES 6,015,285 418,381 1,905,575 447,'6l0 186,1+33 1,209,757 l40,9l4 111,1+98 1+1+5,120 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE BAKES ON FEBRUARY 8, 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, F.R.notes in actual circulation 2,773,192 127,308 561,239 23M96 273,50s 93,494 111.136 705,563 13M37 SM 75 100,137 36,071 2*10,978 Deposits: Member baric *• reserve account 2,419,399 162,970 1,082,139 138,30U i4i,48i 71,121 45,122 404,190 60,269 33,586 77,935 43,777 148,505 Government 12,12S 1,307 707 1,173 1,113 572 3 2,403 760 652 2,561 669 193 Foreign bark 44,930 2,701 20,286 3,ss6 3,663 1,443 1,295 M il 1,25s 851 1,073 1,073 2,590 Other deposits 23,213 121 7,350 1S9 1,373 2,109 1,211 2,081 1,842 467 450 199 5.821 Total deposits 2,^99,670 167,099 1,110,482 143,552 1^7,635 75,245 U7.636 413,490 64,129 40,556 82,019 50,718 157,109 Deferred availability items 292,664 32,197 35,195 23,505 25,732 23,31+9 9,530 3?,203 14,628 5,244 13,871 10,911 15,749 •O'pit'd. paid in 151,0311 10,323 53,602 16,033 1M52 5,153 ^,709 16,107 4,351 2,873 4,037 3.875 10,1*14 Surplus 273,595 20,460 35,053 29,242 23,294 11,616 10,544 39,437 10,186 7,019 8,263 8,719 19,701 All other liabilities 20-12o 439 4,399 382 1,792 1,741 2,823 2,397 1,183 1,047 9^0 1,204 1,169 TOTAL LIABILITIES 6,015,235 418,331 1,905,575 447,610 496,013 216,09s 186,433 1,209,757 228,519140,514 209,367 111,498 445,120 Heserve ratio (per cent) 65.3 76.0 5S.7 59.9 55.3 68.0 61.6 73.0 68,1 52.2 62,9 47.5 66.5 Contingent liability- on bills purchased for foreign correspondents 33,682 2,937 12,433 4,296 4,051 1,596 1,432 5,319 1,391 941 1,186 1,186 2,864 Federal reserve notes: Issued to F.B.3^ by F.R.Agsnt 2,992,411 203,315 635,070 247,013 287,774 103,522 130,739 736,431 144,047 86,197 103,385 39,273 270,641 Held by Federal reserve basi: 219,219 16,007 73,231 12,117 9,266 5,028 19,603 30,363 10,010 2,022 3,202 3,202 29,663 "561,339 234,896 273,50s 93,494 111,136 705,563 13M37 100,137 36,071 In actual circulation 2,773,192 137,303 84,175 240,978 Collateral held by a&ent as security for notes issued to brak Gold and gold certificates 1,132,237 47,010 437,707 77,390 71,470 1?,745 15,19c 264,£10 23,590 13,590 10,430 13,355 89,000 Gold fund - F. R. Board 1,337,745 153.317 93,000 39,410 114,500 66,755 61,000 454,000 34,300 33,500 69,300 4,900 107,263 Eligible p-per 235,255 11,323 50,391 46,010 27,028 16,492 17,378 17,490 5,237 8,991 12,439 3,651 18,825 U. S. Gov't, securities 316,200 34,000 75,000 2,000 39,000 10,000 31,000 30,700 19,000 17,500 58,000 3,021,437 211,650 637,09s 247,310 287,998 103,952 132,56s 745,700 144,127 86,781 273,088 Total collateral 111,719 39,406 MATURITY DISTRIBUTION7 OF BILLS AID 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 252,oto 173,661 19,978 28,259 19,979 9,256 1,507 9,876 Bills bought in open inar.'Cet 31,338 7,581 8,733 5,14s Certificates bills 963,847 73,550 50,000 203,031 203,897 128,525 304,s44 Munieioal warrants 3,435 3,397 13 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis