H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PHESS B-SOl Released for publication Federal Reserve Board Friday morning, Feb. 17; February l6, 1933 not earlier. CONDITION OF FEDERAL RESERVE BAITKS The daily average volume of Federal reserve bank credit outstanding during the week ending February 15, as reported by the Federal reserve banks, was $2,09^,000,000, an increase of $30,000,000 compared with the preceding week and of ,000,000 compared with the corresponding week in 1932# On February 15 total reserve bank credit amounted to $2,136,000,000, an increase of $51,000,000 for the week. This increase corresponds with increases of $1^9,000,000 in money in circulation and $17,000,000 in unexpended capital funds, nonmember deposits, etc., and decreases of $2^,000,000 in monetary gold stock and $^5,000,000 in Treasury currency, adjusted, offset in part by a decrease of $123,000,000 in member bank reserve balances. Holdings of discounted bills increased $16,000,000 at the Federal Reserve Bank of Cleveland, $6,000,000 at San Francisco, $4,000,000 at New York and $33,000,000 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 $39,00;,000 and those of Treasury certificates and bills decreased $14,300,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 15, 1933» were as fellows: Increase or decrease since Feebu., 1x5-; FJWebU. .Og Fretsbu, *.1 7 1935 1933 1932 (in millions of dollars) Bills discounted PS 6 + 33 - 560 Bills bought 31 - 115 U.S. Government securities 1,209 + 25 +1,068 Other reserve banic credit 10 _ 7 - 37 TOTAL B3SERVE. BANK CREDIT 2,136 +51 + 355 Monetary gold stock 4,511 - 2k + 1U2 Treasury currency adjusted 1,373 - + Si Money in circulation 5,854 +1U9 + 2^5 Member "bank reserve balances 2,236 -183 + 332 Unexpended capital funds,nonmember deposits,etc 1+30 +17 + 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 17,1933; earlier. B~801c HE SOURCES Mm LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Feb, 15>1933 Feb. 8,1933 Feb, 17,1932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,447,357 2,469,982 2,053,930 Gold redemption fund with U.S.Treasury 44,596 35»744 56,%4 # Gold held exclusively against F.R.notes 2,491,953 2,505,726 2,110,424 Gold settlement fund with F.R. Board . . 363,030 397.699 270,787 Gold and gold certificates held by banks 345,175 343,699 562»375 Total gold reserves 3,200,158 3,247,124 2,943,586 Reserves other than gold 187,225 195>227 201,958 Total reserves 3,387,383 3.^42,351 3,145,544 lTon-reserve cash 73,607 79,729 77,067 Bills discounted: Sec. by U. S. Government obligations . 81,485 62,914 473,165 Other bills discounted . .. 204,888 189,726 372,616 Total bills discounted 286,373 252,640 845,781 Bills bought in open market . . . . .. 30,784 31,338 146,382 U. S. Government securities: Bonds . . 421,099 420,894 319,97S Treasury notes . . 43go44 399,171 75,504 f Certificates and bills . 950,165 963,847 3%,860 Total U.S. Government securities . 1,809,308 1,783,912 741,342 Other securities 4,797 3,435 29,995 Total bills and securities . . 2,131,262 2,071,325 1,763,500 Due from foreign banks 3,510 3,539 S,595 F. R. notes of other banks 11,542 10,964 13,810 Uncollected items .. . 390,639 302,438 421,531 Bank premises 53,962 53,962 57,820 All other resources . . 53,481 50,977 39,917 TOTAL RESOURCES . . .. 6,105,386 6,015,285 5,527,784 L I A B I L I T I ES F. R. notes in actual circulation . . 2,891,145 2,773,192 2,656,941 # Deposits: Member bank - reserve account . . .. 2,236,095 2,419,399 1,904,246 Government 51,542 12,128 27,214 Foreign bank 59,422 ^,930 38,848 Other deposits 28,704 23,213 42,813 Total deposits . 2,375,763 2,499,670 2,013,121 Deferred availability items 388,938 292,664 412,877 Capital t>aid in 150,916 151*03^ 157,915 Surplus 272,599 278,599 259,^21 All other liabilities 20,025 20,126 27,509 TOTAL LIABILITIES 6,105,386 6,015,285 5,527,7^ Ratio of total reserves to deposit and F. R. note liabilities combined . , . 64.3$ 65.3$ 67 4$ # Contingent liability on bills purchased for foreign correspondents 35,684 39,682 315,3^8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BA2JKS OH FEBRUARY 15, 1933 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,447,357 200,327 502,547 l6g,600 196,970 84,115 75,090 757,030 108,l40 48,590 80,280 20,655 205,013 Gold redemption fund with. U.S.Treas. 44,596 1,829 10,793 ^.712 6,304 1.^98 3,151 ^,567 1,313 2,126 1,893 1.256 5,154 Gold held exclusively against F. R. notes 2,491,953 202,156 513,3^0 173,312 203,274 35,613 73,241 761,597 109,453 50,716 82,173 21,911 210,167 Gold settlement fund with F.R.Board 363,030 34,200 45,300 21,028 26,061 14,765 9,476 103,258 16,878 12,517 20,470 12,880 41,197 Gold and gold certif. held "by "banks 3^5,175 13,727 232,610 7,849 18,335 5,963 7,165 26,380 2,325 1,650 7,5^3 2,484 19,144 Total gold reserves 3,200,158 250,083 791,250 202,189 247,670 106,341 94,882 396,235 128,656 64,883 110,186 37,275 270,508 Reserves other than gold 187,225 17,075 62,246 21,168 12,056 9,892 4,900 22,173 7,931 3,713 6,252 8,706 11,113 Total reserves 3,387,383 267,158 853,496 223,357 259,726 116,233 99,782 918,408 136,587 68,596 116,43s 45,931 231,621 Non-reserve cash 73,607 5,109 19,136 4,075 3,7^8 3,142 4,172 13,931 3,71^ 2,295 2,499 3,S?3 7,863 Bills discounted: Secured "by U.S.Govt, obligations 81,485 3,629 26,159 14,197 15.562 2,283 1,45s 4,530 2,577 304 721 403 9,662 Other bills discounted 204,888 8,065 32,028 35,039 27,463 15,211 17,245 14,295 2,943 9,870 14,340 3,621 24,763 Total bills discounted 286,373 11,694 58,187 49,236 43,030 17,494 18,703 18,825 5,520 10,174 15,061 4,024 34,425 Bills bought in open market 30,784 2,125 9,804 3,063 2,965 1,642 1,873 3,784 947 64o 342 842 2,257 U. S. Government securities: Bonds 421,099 20,03s 187,633 30,958 36,35^ 9,812 9,755 40,798 13,931 17,22? 11,7*0. 17,952 2244,,886633 Treasury notes 438,044 24,063 175,320 34,36s 45,257 12,213 12,131 50,616 16,720 12,053 14,453 9,895 30,355 Certificates and bills 950,165 49,011 355,H5 70,000 92,179 24,874 24,709 163,027 34,056 24,552 29,^37 20,155 63,050 Total U.S. Govt, securities 1,809,30s 93,112 718,068 135,326 173,790 46,899 46,595 254,441 64,707 53,830 55,670 43,002 118,SbS Other securities ^,797 — 4,259 525 — — — — 13 — — — Total bills and securities 2,131,262 106,931 790,318 188,150 219,785 66,035 67,171 277»050 71,1-74 64,657 71,573 52,868 155,550 Dae from foreign banks 3,510 26s 1,294 3s 6 3^7 13/ 122 47s 17 12 102 102 245 F. R. notes of other banks 11,542 241 3,155 244 825 744 711 2,137 672 334 931 307 1,191 Uncollected items 390,639 36,237 127,711 3^,743 3^,5^7 27,375 10,049 44,833 l6,35S 7,9*+S 17,322 14,596 13,370 Bank premises 53,962 3,280 12,818 3,106 6,929 3,237 2,422 7,595 3,285 1,746 3,559 1,741 4,244 All other resources 53,481 669 27,891 4,576 1,927 3,018 5,464 1,625 1,133 2,027 1,241 1,518 2,342 TOTAL RESOURCES 6,105,386 1+19,943 1,835,819 458,637 527,834 219,921 189,893 1,266,157 232,990 147,615 214,165 120,986 471,426 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BA1TICS ON FEBRUARY 15, 1933 L I A B I L I T I ES (In thousands of dollars) B-801c Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Boston Hew York Phila. Cleve. Rich. Atlanta I.E. notes in actual circulation 2,891,145 188,330 592,985 244,032 301,435 100,421 103,353 747,724 135 • 36,176 100,$32 35,s4i 247,1+92 Deposits: Member "bank: - reserve account 2,236,095 157,469 929,840 122,239 137,846 62,966 45,348 398,105 57,973 39,072 79,509 50,817 15^,911 Government 51,542 2,791 6,663 ^,775 3,315 8,127 2,310 9,684 2,753 565 559 2,839 7,161 Foreign bank 59,^22 4,32? 19,926 6,227 5,871 2,313 2,07b 7,709 2,016 1,364 1,720 1,720 4,151 Other deposits 28,704 24 12,577 i4l 1,125 i,7.3fr 1,726 2,746 1,525 6"3 99? 5*4 4,fth7 Total deposits 2,375.763 164,613 969,006 133,382 148,157 75,140 51,520 418,244 64,267 4i,6o4 82,780 55,960 171,090 Deferred availability items 388,938 35,212 125,597 35,5^ 3^,H3 26,007 10,29s 41,551 17,3^2 S.8S9 17,172 15,637 21,571 Capital paid in 150,916 10,827 58,573 16,027 14,022 5,153 4,705 16,116 4,340 2,871 4,029 3,846 10,407 Surplus 27?,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 20,025 501 4,600 405 1,813 1,584 2.833 3.025 1.071 1,056 989 9LS3_ 1,165 TOTAL LIABILITIES 6,105,386 419,943 1,835,819 458,637 527^3^ 219,921 189,893 1,266,157 232,990 147,615 214,165 120,986 471,426 Reserve ratio (per cent) 64.3 75.7 5^.6 59.2 57.S 66.2 61.8 7S.8 68.3 53.7 63.4 50.1 67.3 Contingent liability on bills purchased for foreign correspondents 35,684 2,657 11,440 3,822 3,604 1,420 1,274 4,732 1,23s 837 1,056 1,056 2,54s FEDERAL RESERVE 1T0TE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 677,625 254,588 312,022 105,368 129,403 7^0,273 144,547 87,7^8 108,753 38,910 278,368 Held by Federal reserve bank 242,483 17,663 s4,64o 10,556 10,587 4,947 19,4io 549 8,763 1,562 7,861 3.069 30.876 In actual circulation 2,891,145 183,330 592,985 244,032 301,435 100,421 109,993 7^7,724 135,784 86,176 100,932 35,s4i 247,492 Collateral held by agent as security for notes issued to bank Gold and gold certificates 1,066,412 47,010 428,547 77,290 71,470 15,760 15,090 263,030 23,240 13,590 10,480 13,155 87,750 Gold fund - F. H. Board 1,380,945 153,317 74,000 91,310 125,500 68,355 60,000 494,000 84,900 35,000 69,800 7,500 117,263 Eligible paper 265,334 11,684 53,654 48,963 42,535 17,906 17,961 18,47S 5,174 9,030 11,933 3,735 24,281 U. S. Gov't, securities 445,100 124,000 38,000 75.000 4.000 T7.000 . 20.000 ^1.400 30,700 19 f 000 15,000 51,000 Total collateral 3,157,791 212,011 680,201 255,563 314,505 106,021 130,051 795,508 144,714 88,320 111,213 39,390 280,,294 MATURITY DISTRIBUTION OF BILLS AED 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 286,373 203,195 19,631 29,926 22,787 8,897 1,937 Bills bought in open market 30,784 6,407 8,4ll 5,799 10,167 Certificates and bills 950,165 89,950 169,301 63,250 174,497 143,825 309,342 Municipal warrants ^f 797 4,769 3 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis