H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, Feb. 2H; Federal Reserve Board not earlier February 23, 1933• # CONDITIO!" OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending February 21, as reported by the Federal reserve banks, was $2,268,000,000, an increase of $169,000,000 compared with the preceding week and of $^93,000,000 compared with the corresponding week in 1932. On February 21 total reserve bank credit amounted to $2,351>000»000» 3X1 in~ crease of $215,000,000 for the week. This increase corresponds with increases of $13^,000,000 in money in circulation and $35>000,000 in member bank reserve balances and a decrease of $51,000,000 in monetary gold stock, offset in part by an increase of $5,000,000 in Treasury currency, adjusted. Holdings of discounted bills increased $19,000,000 at the Federal Reserve Bank of Chicago, $7,000,000 at Philadelphia, $6,000,000 at New York, $5,000,000 at San Francisco and $41,000,000 at all Federal reserve banks. The System1s holdings of bills bought in open market increased $1^3»000,000, while holdings of United States Treasury notes increased $15,000,000 and of Treasury certificates and bills $10,000,000; Changes in the amount of reserve bank credit outstanding and. in related items during the week an& the year ending February 21, 1933? were as. follows: Increase or decrease since Feb. 21 Feb. 15 Feb. 2k 1933 1933 1932 (In millions of dollars) Bills discounted 327 + Hi ~ 508 Bills bought 17U +IU3 + Hi U.S. Government securities l83U + 25 +1.093 f Other reserve bank credit 16 +6 9 TOTAL RESERVE BANK CREDIT 2,351 +215 + 617 Monetary gold stock H,H6o - 51 + 110 Treasury currency adjusted I.878 + 5 + 98 Money in circulation 5,988 +13H + 396 Member bank reserve balances 2,271 +35 + 393 Unexpended capital funds,nonmember deposits,etc H3I + 1 36 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 24,1933; not earlier, B-SOlc RESOURCES A"-TD LIABILITIES OF TEE TWELVE FEDERAL RESERVE BASES COMBINED (in thousands of dollars) Feb. 21,1933 Feb. 15,1933 Feb. 21+.1952 R S O U R C ES Gold with Federal reserve agents . . . 2,367,927 2,1+47,357 2,037,032 Gold redemption fund with U.S.Treasury 48,756 55,7'45 Gold held exclusively against F.R.notes 2,Ulb,743 2,1+91,953 2,092,777 437,943 Gold settlement fund with F. R. Board 363,030 285,51+9 Gold and gold certificates held by bank 263,707 3^3,175 559,222 Total gold reserves 3,113,393 3,200,158 2,937,5^ Reserves other tha:- gold . . 186,251 187,225 202,211+ Total reserves 3,304,61+4 3.3S7.3S3 3,139,762 ITon-reserve cash 73.5S6 73,607 75,5^6 Bills discounted: Sec. by U.S. Government obligations 105,102 81,1+85 1+71,180 Other bills discounted 222,036 2Ql+, 808 361+I063 Total bills discounted . . .. 327,13s 286,373 835,21+3 Bills bought in open market 17M7S 30,781+ 133,3S2 U. S. Government securities: Bonds 1+21,021 1+21,099 319,21+1 Treasury notes . . . .. 452,661 1+38,01+1+ 73* ^97 Certificates and bills 960,551 950,165 3*+7,8l8 Total U.S.Government securities 1,809,308 71+0,556 1,S34.233 Other securities M 97 ll+,681 Total bills and securities . . 2,31+0, i4U 2,131,262 1,723.662 Due from foreign banks 3,^98 3,510 3,595 F. R. notes of other banks 11,5^2 15,215 13,289 Uncollected items 390,639 39S,332 333,656 Bank premises 53,962 57,821 53,962 All other resources 52.99S 53,^81 39,793 TOTAL RESOURCES . . . 6,175,777 6,105,326 5,^5S,926 L I A B I L I T I ES F. R. notes in actual circulation . 3,QOO,2US 2,891,145 2,61+2,827 Deposits: Member bank - reserve account . . 2,271,129 2,236,095 1,877,793 Government , 40,729 51,5^2 1+9,302 Foreign bank 60,799 59,422 16,399 Other deposit?. 26,741 28,70l+ 30,002 Total deposits 2,399,39s 2,375,763 1,973,^96 Deferred availability items 326,195 388,938 396,1+26 Capital paid in 150,1+74 150,916 157,S57 Surplus 278,599 278,599 259,^21 All other liabilities 20,863 20,025 28,899. TOTAL LIABILITIES . 6,105,386 5,1+53,926 6,175,777 Ratio of total reserves to deposit and F. R. note liabilities combined . . 61+. 3$ 68.0$ 61.2$ Contingent liability on bills purchased for foreign correspondents . . .. 35,681). 313,281 30,281+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MID LIABILITIES OF THE FEDERAL RESERVE BAIHCS OF FEBRUARY 21, 1933 R E S O U R C ES (In thousands of dollars) B-801b Total 3oston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, ICans.Cy. Dallas San Fran, Gold with Federal reserve a-ents 2,367,987 200,327 1+^,157 155.000 189,970 74,425 65,970 792,765 105,215 51,050 77,2SO 20,565 186,263 Gold redemption fund with U.S.Treas. 48,756 1,673 14,484 5,423 6,351 1,9^1 2,972 4,363 1,277 2,106 1,853 1,210 5,103 Gold held exclusively against F. R. notes 2,4l6,'743 202,000 463,641 160,423 196,321 76,366 6688,,994422 797,128 106,492 53,156 79,133 21,775 191,366 Gold settlement fund with F.R.Board 437,943 26,665 128,707 21,352 26,114 14,592 8,096 123,319 16,120 14,515 22,122 14,339 21,996 Gold and gold certif. held by "banks 263,707 l4,i4i 152,092 7,215 18,, 090 4,176 7,133 12,476 2,462 1,617 7,546 2,352 34,467 Total gold reserves 3,118,393 242,806 744,440 188,996 240,525 95,134 84,171 932,923 125,074 69,288 108,801 38,466 247,769 Reserves other than gold 186,251 16,634 63,693 21,128 11,803 9,270 5,102 21,913 7,497 3,576 6,708 8,310 10,612 Total reserves 3,304,644 259,440 808,138 210,124 252,328 104,404 89,273 954,236 132,571 72,864 115,509 46,776 258,381 ITon-re serve cash 73.526 4,814 20,419 4,076 3.898 2,896 4,077 14,277 3,721 2,l6l 2,564 3,705 6,978 Bills discounted: Secured "by U.S.Govt, obligations 105,102 3,529 3300,,7744ss 1166,,995555 17,517 22,,336633 1,711 21,203 2,012 449977 808 597 77,,116622 Other "bills discounted 222,036 8,894 32,94s 38,627 28,524 16,089 16,946 16,896 3,563 9,912 14,170 3,569 31,898 Total hills discounted 327,132 12,423 63,696 55.5S2 46,o4l 13,452 18,657 33,099 5,575 10,409 14,978 4,,166 39,060 Bills bought in open market 174,076 6,689 66,350 12,888 7,964 8,142 9,018 25,304 6,587 5.332 S,073 842 16,887 U. 3. Government securities: Bonds 421,021 19,740 187,234 30,908 36,362 9,916 10,057 39,921 13,956 17,416 ll,75S 18,021 25,732 Treasury notes 452,66l 24,521 180,228 35,503 46,850 12,778 12,904 51,581 17,338 12,543 14,926 10,333 33,151 Certificates and bills 960,551 4S,851 357,949 70,728 93,328 25,455 25,710 162,665 34,538 24,965 29,736 20,586 66,o4o Total U.S.Govt, securities 1,234,233 93,112 725,411 137,139 176,540 48,149 48,671 254,167 65,832 54,929 56,420 4s,94o 124,923 Other securities 4,697 — 4,159 525 — — — — 13 — — — Total bills and securities 2,340,144 112,224 859,616 206,134 230,545 74,743 76,346 317,570 77,994 70,683 79,471 53,94s 180,870 Due from foreign banks 3,498 26s 1,281 386 347 137 123 47s 17 12 102 102 245 F. R. notes of other banks 13,289 254 4,054 209 808 73s s6o 2,569 1,014 219 1,029 154 1,381 Uncollected items 333,656 39,923 102,859 26,071 33,270 24, 298 10,725 30,165 12,469 7,420. 18.2SS. 12,439 15'»729 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 52,99s 594 27,888 4,515 1.874 3,075 5,493 1,550 1,092 2,016 1,205 1,510 2,186 TOTAL RESOURCES 6,175,777 420,797 1,337,073 454,621 529,999 213,528 189,319 1,329,040 232,163 157,121 221,727 120,375 470,014 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON FEBRUARY 21, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,000,24s 192,84I 610,470 252,588 305.263 105,571 111,717 203,351 136,706 89,357 103,304 36,2)45 252,195 Deposits: Member "bank - reserve account 2,271,129 154,1+53 938,922 120,444 137,042 55,201 44,933 420,6l4 6l,o4l 46,225 83,294 53.^57 154,903 Government 40,729 3,l4o 12,963 l,5S7 1,446 3,509 919 6,3^7 1,524 1,056 1,353 2,166 4,719 Foreign bank: 60,799 4,329 21,303 6,227 5,271 2,313 2,076 7,709 2,016 1,364 1,720 1,720 4,151 Other deposits 26,741 25 8,5^9 167 2,039 3,756 801 2,753 1,59^ 713 ^55 163 5.726 Total deposits 2,399,392 161,947 921,737 128,425 146,398 64,779 48,729 437,423 66,175 49,352 87,422 57,506 169,499 Deferred availability items 326,195 34,241 96,411 27.926 33,536 24,768 10,233 29,479 13,686 7,449 17,714 13.151 17,001 Capital paid in 150,474 10,729 52,454 15,935 14,024 5,136 4,696 16,023 4,322 2,867 4,029 3,792 io,4oi Surplus 272,599 20,460 85,058 29,242 28,294 11,616 10,544 39,^97 10,186 7,019 8,263 2,719 19,701 All otiaer liabilities 20,863 519 505 1,884 1,658 2,800 3.227 1,088 1,071 m. 956 1,217 TOTAL LIABILITIES 6,175.777 420,797 1,237,073 454,621 529,999 213,522 129,319 1,329,040 232,163 157,121 221,727 120,375 470,014 60.6 Reserve ratio (per cent) 61.2 73.1 50.8 55.1 55.2 61.3 55.6 77.0 65.3 52.5 ^9.9 61.3 Contingent liability on bills purchased for foreign correspondents 30,284 2,310 9,206 3,323 3,133 1,23^ 1,108 4,115 1,076 728 918 918 2,215 FEDERAL RESERVE U0T2 STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 3,249,887 208,585 689,025 262,469 315,624 111,131 130,659 854,906 146,533 91,271 112,635 39,27^ 287,775 Held by Federal reserve bank 249,639 15,744 , 78,555 9.881 9,761 5,560 18,942 51,515 9,827 1,914 9.331 3,029 35,580 In actual circulation 3,000,248 192,841 610,470 252,588 305,363 105,571 111,717 203,391 136,706 89,357 103,304 36,245 252,195 Collateral held by agent as security for notes issued to bank Gold and gold certificates 988,7^2 47,010 350,157 77,090 71, 470 19,570 14,970 277,765 23,115 13,050 10,480 13,065 71,000 Gold fund - F. R. 3oard 1,379,245 153,317 99.000 77,910 lis ,500 54,855 51,000 515,000 82,100 38,000 66,800 7,500 115,263 Eligible paper ^35,5^7 16,980 115,225 62,874 50 ,985 21,593 25,058 58,294 10,824 13,876 19,369 3,84o 36,629 U. S. Gov't, securities 473,700 -- 128,000 48,000 75 000 16,000 41,000 8,000 31,000 26.700 19,000 15,000 66^000 Total collateral 3,277,234 217,307 692,382 265,874 315,955 112,018 132,028 859,059 147,039 91,626 115,649 39,405 238,892 MATURITY DISTRIBUTION OF BILLS AID SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 327,132 239,487 21,807 31,696 23,619 8,642 1,237 Bills bought in open market 174,076 59,312 30,319 35,753 4s,4si 211 Certificates and bills 960,551 29,950 138,686 92,250 197,797 130,525 311,343 Digitized for FRASER Municipal warrants 4,697 4,672 25 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis