H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT JOB. THE PBESS Released for publication B-S01 Friday morning, March 2U; Federal Reserve Board not earlier. March 23, 1933• CONDITION OF FEDERAL RESERVE BASKS The daily average volume of Federal reserve "bank credit outstanding during the week ending March 22, as reported by the Federal reserve "banks was $3,108,000,000, a decrease of $528,000,000 compared with the preceding week and an' increase., pi $1,512,000,000 compared with the corresponding week in 1932. On March 22 total reserve bank credit amounted to $2,887,000,000, a decrease of $638,000,000 for the week. This decrease corresponds with decreases of $661,000,000 in money in circulation, $U6,000,000 in member bank reserve balances and $15,000,000 in unexpended capital funds, nonmember deposits, etc., and an increase of $13,000,000 in monetary gold stock, offset in part by a decrease of $97»000,000 in Treasury currency, adjusted. Bills discounted decreased $365,000,000 at the Federal Reserve Bank of Hew York, $5^,000,000 at Cleveland, $33,000,000 at Philadelphia and $561,000,000 at all Federal reserve banks. The System*s holdings of bills bought in open market declined $51,000,000, while holdings of United States bonds declined $2,000,000, of United States Treasury notes $7, >00,000, of special Treasury certificates $19,000,000, and of other Treasury certificates and bills $5,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 22, 1933, were as follows: Increase or decrease since Mar. 22 Mar. 15 Mar. 23 1933 1933 1932 (In millions of dollars) Bills discounted S71 - ^61 + 5 Bills bought 352 - 51 +270 Special Treasury certificates — - 19 — Other U» S. Govt, securities 1,864 - 16 +1,029 Other reserve bank credit - l + 9 - 14 TOTAL HE SERVE -BAMK CHE-MO?. 2,88J - 63s +1,290 Monetary gold stock 4,264 + 13 -117 Treasury currency adjuated l,S4l - 97 + 49 Money in circulation 6,60S - 661 +1,128 Member bank reserve balances 1.91S - 46 + 7 Unexpended capital funds, nonmember deposits,etc. 466 - 15 + 86 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 2^,1933; not earlier. B~801a RESOURCES AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Mar. 22,1933 Mar. 15,1933 Mar. 23>1932 R E S O U R C ES Gold wi.th Federal reserve agents . . .. 2,H5S,H32 2,215,268 2,192,51+7 Gold redemption fund with U.S.Treasury . 105,011 135,05S 1+8,1+10 Gold held exclusively against F.R.notes 2,563,^3 2,350,326 2,21+0,957 Gold settlement fund with F. R. Board . 266,101 301,237 282,879 Gold and gold certificates held by banks 362,77s 359,214 1+83,651 Total gold reserves 3,192,322 3,010,777 3,007,1+87 Reserves other than gold 137,408 210,896 17S,S95 Total reserves 3,371,217 3,148,185 3,218,383 ITon-reserve cash . . . . .. 125,31+6 77,31S 76,575 Redemption fund - F. R. bank notes . . . iibboo 170 — Bills discounted: Sec, by U.S. Government obligations . •769,602 31+1,61+7 32H,233 Other bills discounted 3^6,636 *462,7l4 323,936 Total bills discounted . . .. 670,269 1,232,316 665,583 Bills bought in open market 1103,316 81,696 352,309 U. S. Government securities: Bonds . . .. 1+22,627 1+25,013 31s,732 Treasury notes 457, 1+65,031+ 83,896 Special Treasury certificates 19,000 — — Other certificates and bills 983,886 939,937 1+32,370 Total U.S. Government securities 1,864,387 1,399,031+ 834,99s Other securities 5,61+1+ 6,991 5,394 Total bills and securities . . . 3,5^0,310 1,589,268 2,892,959 Dae from foreign banks 3,613 3,610 6,629 F. R. notes of other banks 36,861 17,955 14,009 Uncollected items . . . . . .. 1121,196 366,178 343,167 Bank premises 5l+,028 57,328 54.037 All other resources 60,135 53,56s 36,143 TOTAL RESOURCES . . . . .. 6,966,151+ 7,261,322 5,342,002 L I A B I L I T I ES 3P.E. notes in actual circulation . . . . 3,916,342 4,252,702 2,572,815 F.R.Bank notes in actual circulation . . 9,269 3,301 — Deposits: Member "bank - reserve account . . .. 1,917,61s *I,963,976 1,910,603 Government . . . . . . .. 111,472 27,6SS 43,340 Foreign "bank 14,491 23,O4O 10,874 Special deposits: member bank^ . . . . 52,754 *4O,IO9 — nonmember banks . # 9,120 *4,S5L — Other deposits 49,394 *64,075 IS,333 Total deposits . . .. 2,154,849 2,123,739 1,983,150 Deferred availability items 430,814 334,676 341,612 Capital paid in . 149,793 150,210 156,027 Surplus . . . . . 27S,599 278,593 259,421 All other liabilities 26,488 28,035 28,977 TOTAL LIABILITIES . . . . 6,966,154 7,261,322 5,342,002 Ratio of total reserves to deposit and F. R. note liabilities combined . . . . 55.% 49.1FO 70.6$ Rediscounts between F# R. banks 143,800 — — Contingent liability on bills purchased for foreign correspondents . . . . .. 42,505 27,47s 334,881 Digitized for FRASER ^Revised. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES U'TD LIABILITIES OF THE FEDERAL RESERVE BAJICS ON MARCH 22, 1933 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston Hew York phila. Cleve. Rich. Atlanta Chicago St.Louis inn. Kans.Cy. Dallas San Fran. Sola with Federal reserve agents 2,452,432 157,344 556,243 124,750 256,470 141,245 23,545 698,057 124,Uso 53,082 95,220 29,673 137,663 Gold redemption fund with U.S.Treas. 105,011 6,596 25,915 9,950 7,777 3,224 6,785 24,Dig 1,702 3,16s 3,762 1,686 10,36s Gold held exclusively against F. R. 11003? 2,563,UU3 163,940 582,75s 134,700 264,247 144,529 90,330 722,075 126,182 56,250 99,042 31,359 148,031 Gold settlement fund with F.R.Board 266,101 3,271 S3.097 2,997 19,247 16,555 17,611 34,300 21,025 13,505 9,947 16,742 21,198 Gold and gold cert if. held "by banks 362,77s 27,536 152,228 19,652 31,796 8,459 7,372 5M-04 3,675 2,093 18,512 6,413 30,620 Total golreserves 3,192,322 194,7^7 818,023 163,355 315,290 169,543 115,319 210,779 150,222 71,248 127,507 54,520 199,249 Reserves other than gold 172,895 15,i4I 60,759 12,009 9,670 2,571 5,662 23,496 10,235 2 ,,613 5,420 6,541 12,712 Total reserves 3,371,217 209,222 272,242 121,364 325,560 172,114 120,927 234,275 161,117 74,461 132,927 61,061 212,561 Ivon-reserve cash 125,346 6,569 32,231 4,225 7,243 6,222 2,212 24,390 5,566 2.73S 5,043 ^,976 16,726 Redemption fund - F.R. bank notes 740 150 440 50 100 Sills discounted: Secured by U.S.Govt, obligations 324,233 2,249 124,712 52,320 21,511 6,127 4,223 22,401 2,422 1,922 208 18,124 Other bills discounted 346,636 13,122 63,211 70,940 32,522 12,013 28,449 13,3'M >.193 10,825 12,233 5,395 59,720 Total bills discounted 670,869 22,037 243,523 123,2b0 60,033 24,200 32,672 37,742 6,621 11,513 20,221 6,203 77,244 Bills bought in open market 352,309 57,640 64,130 10,657 7,074 12,225 16,542 26,615 15,632 12,960 2,675 3,491 50,664 U. S. Government securities: Bonds 422,627 21,799 166,636 29,250 36,362 9,917 10,036 60,493 13,957 17,261 12,561 12,020 25,730 Treasury notes 457,27^ 27,516 155,360 33,260 ^ 35 12,936 13,064 72,912 17,555 12,629 15,112 10,463 33,566 Certificates and bills 933,226 53,797 303,415 65,031 92,7^3 25,296 4o,544 222,301 3^,320 24,202 29,5^7 20,457 65,627 Total U.S. Govt, securities 1,264,327 103,112 625,411 12.2, l4i 176,540 42,149 63,644 367,717 65,232 54,752 57,220 42,940 124,923 Other securities 5,39^ — 4,Gol 525 — — — — — 2 — — — Total bills and securities 2,292,959 122,729 942,925 262,523 243,647 90,574 112,258 492,072 23,025 79.239 26,116 52,634 253,431 Dae from foreign banks 3,613 269 1,393 3S2 34s 137 123 420 15 10 102 102 246 F. R. notes of other banks 36,261 4.65 10,949 725 2,922 2,217, 2,250 6,515 2,502 1,910 3,356 570 2,420 Uncollected items 421,196 44,660 107,606 32,116 39,535 35,912 12,520 50,104 19,416 10,913 23,902 12,690 25,756 Bank premises 5*4.037 3,220 12,312 3,121 6,929 3,237 2,422 7,595 3,225 1,7^6 3,559 1,741 4,244 All other resources 60,125 520 32,022 4,522 1,297 6,770 5,375 1,399 1,095 1,930 1,230 1,515 1,223 TOTAL RESOURCES 6,966,154 442,650 2,019,292 429,104 622,131 323,129 265,407 1,416,737 221,121 172,947 256,300 147,229 517,327 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AFD LIABILITIES OF 'THE FEDERAL 3ESERVE BALTICS OF MARCH 22, 1933 (in thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F„R.notes in actual circulation 3>91b,3^2 250,856 397,775 286,020 32b,402 195, J ok 162,223 995,236 162,534 106,189 132,373 47,593 293,366 F.R,.bank notes in actual circulation 9,269 5 2,6l4 619 31 Deposits: .Member bank - reserve account 1,917,618 112,627 764,251 110,762 140,092 63,034 43,953 276,41b 67,135 42,071 ^5.353 63,023 142,246 Government 111,472 2,S92 58.152 3,204 2,130 2,009 16,519 14,937 1,764 1,069 1,973 2,306 4,512 Foreign bank 1,036 5,039 1,490 1,405 553 497 1,245 423 326 412 412 993 Special deposits: member bank 52,754 705 4,256 4,l4i 12,363 4,971 4,934 11,476 4,718 6l4 492 95 3,939 nonmember bank 9,120 360 717 413 905 130 3,339 1,651 986 235 2 322 Other deposits 49,394 32U I2,4l2 454 2,953 3,962 2,216 7,312 5,467 1,550 1,190 694 10,254 Total deposits 2,154,249 123,524 244,470 120,762 159,356 75,434 68,249 315,331 21,26s 46,616 89,665 66,532 163,576 Deferred availability items 430,814 41,955 113,789 36,310 37,286 32,671 16,909 47,^00 21,809 8,881 21,321 18,928 22,395 Capital paid in 149,793 10,774 58,426 15,845 13,956 5,135 4,64i 15,535 4,299 2,847 4,012 3,797 10,526 Surplus 272,599 20,460 85,058 29,242 28,294 ll,6l6 10,544 39,497 10,186 7,019 . 8,263 8,719 19,701 All other liabilities 26,422 1,016 6,760 919 2,212 2,569 2,841 3,63s 1,054 1,395 56i 1,660 1,763 TOTAL LIABILITIES 6,966,15!+ 442,650 2,019,892 489,104 622,131 323,129 265,407 1,416,737 281,181 172,947 256,30c 147,289 517,327 66.1 -Reserve ratio (per cent) 55*5 56.1 50.4 44.6 59 .7 65.7 52.5 63.7 43.7 59.9 53.5 46.5 Contingent liability on bills purchased for foreign correspondents 42,505 3,102 14,205 4,462 4,207 1,657 1,487 5,524 1,445 977 1,232 1,232 2,975 MATURITY DISTRIBUTION OF BILLS MD SHORT TERM SECURITIES 91 days to To tal Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 670,869 502,662 32,170 58,205 66,836 8,305 2,685 Bills bought in open market 352,309 75,421 68,151 136,775 71,456 506 Certificates and bills n "z , 0 R 0 * D C £ 50,120 60,000 170,227 248,140 292,872 162,527 Municipal warrants 5,394 5,280 84 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT ON MARCH 22, 1933 (In thousands of dollars) B-801d Total Boston few York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve notes: Issued to F.R.Bank by P.R.Agent 4,314,443 276,669 1,007,799 304,756 U07,019 206,47s 173,172 1,103,791 170,327 111,735 1^9,999 52,06s 3^5,035 Eeld by Federal reserve bank 393,106 25,313 110,024 13,736 20,611 10,71^ 15,9^9 _ 103,535 S,293 5,59o 17,621 4,475 51,719 In actual circulation 3,916,342 250,356 397,775 236,020 386,403 195,764 162,223 395,236 162,534 106,139 132,37? ^7,593 293,366 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 1,262,35+7 57,327 '443,7U3 35,050 74,470 1+0,7^40 20,5^+5 353,057 33,720 25,032 10,430 16,673 96,900 Gold fund - p. R. Board 1.195.5S5 100,017 113,100 39,700 132,000 100,505 63,000 3U0,000 90,700 23,000 34,300 13,000 40,763 Eligible paper 377,152 75,713 291,911+ 101,239 62,263 1+1,131 39,775 103,709 20,570 21,451 19,1+13 7,797 92,067 U.S. Gov't, securities 1,000,700 44,ooo 160,000 79,000 90,000 25,000 59,000 303,000 30,000 37,700 40,000 15,000 118,000 Total collateral 4,336,234 277,062 1,003,757 305,039 408,733 207,426 182,320 1,104,766 175,050 112,233 154,693 52,470 3^7,730 FEDERAL RESERVE BAITS MOTE STATE! IE:TT OH MARCH 22, 1933 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve bank notes: Issued to F.R.Bank(Outstanding) 20,001 1,000 12,241 5,000 1,600 160 Held by Federal reserve b'ank 10,732 995 3,627 5,000 951 129 In actual circulation 9,269 5 S,6i4 619 31 — Collateral pledged against outstanding notes: Discounted and purchased bills 6,493 1,200 2,850 2,264 179 U. S. Gov't, securities 20,591 — 12,241 3,350 5,000 Total collateral 27,034 1,200 12,241 6,200 2,254 5,179 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis