H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, March 31; Federal Reserve Board not earlier March 30, 1933 # CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending March 29, as reported by the Federal reserve banks, was $2,787*000,000, a decrease of $321,000,000 compared with the preceding week and ail increase of $188,000,000 compared with the corresponding week in 1932« On March 29 total reserve bank credit amounted to $2,633,000,000, a decrease of $199,000,000 for the week. This decrease corresponds v/ith a decrease of $255,000,000 in money in circulation and increases of $3,000,000 in monetary gold stock and $13,000,000 in Treasury currency, adjusted, offset in part by increases of $69 ,000,000 in member bank reserve balances and $12,000,000 in unexpended capital funds, nonmember deposits, etc. Bills discounted decreased £78 000,000 at the Federal Reserve Bank of New f York, $21,000,000 at Philadelphia, $15 000,000 at C&icago and $126,000,000 at all f Federal reserve banks. The System1s holdings of bills.bought in open market declined $42,00J,000 and of Treasury certificates and bills $26,000,000 # Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 29, 19331 ^re as follow* Increase or decrease since MUaMrL .. 2C.9 J MiviaCWr.# # 12 2 Mar. 30 19?3 J331 (In millions of dollars) Bills discounted 5U5 -126 - ss Bills bought 310 - U2 + 2kk 1,838 - 26 + 966 U. S. Government securities - 6 - 5 22 Other reserve bank credit TOTAL RESERVE BANK CREDIT 2,688 -199 +1,101 Monetary gold stock 4,272 + S - 116 Treasury currency adjusted 1,859 + IS + 79 Money in circulation 6,353 -255 + 913 + 76 Member bank reserve balances 1,987 + 69 Unexpended capital funds,nonmember deposits,etc U78 + 12 + 73 * Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 31,1933; not earlier. B-SOla RESOURCES A!© LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBIFED (in thousands of dollars) Max. 29,1933 Mar. 22,1933 Mar.30,1932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,530,940 2,458,432 2,188,647 Gold redemption fund with U.S.Treasury . 35,073 105,011 44,895 Gold held exclusively against F.R.notes 2,6l6 01"2; 2,563,443 2,233,542 f Gold settlement fund with F. R. Board . 2^7,522 266,101 293,292 Gold and gold certificates held by banks 373,171 362,773 490,923 Total gold reserves 3.236,766 3,192,322 3,017,757 Reserves other than gold 205,230 178,395 216,810 Total reserves 3,H>+1,996 3,371,217 3,234,567 Non-reserve cash 133,396 125,346 79,131 Redemption fund - F. R. bank notes . . . 1,100 740 — Bills discounted: Sec. by U.S. Government obligations . 231,300 324,233 318,935 Other bills discounted 313,310 346,636 314,320 Total bills discounted 545,110 670,869 633,255 Bills bought in open market 331100,,223355 *352,315 66,362 U. S. Government securities: Bonds 1+22,776 422,627 327,667 Treasury notes 457,872 457,374 84,397 Certificates and bills 957,722 983,886 Total U.S. Government securities 1.S3S,370 1,864,387 871,618 Other securities 5,402 5,394 6,911 Total bills and securities . 2,699,117 •2,892,965 1,578,146 Due from foreign banks 3,6lS 3,613 6,645 F. R. notes of other banks 37,1^3 36,861 14,376 Uncollected items 316,458 •421,152 331,558 Bank premises 54,037 57,828 54,037 All other resources . . .. 64,960 •60,305 36,387 TOTAL RESOURCES 6,749,325 •6,966,236 5,338,638 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,747,626 3,916,342 2,546,275 F.R.bank notes in actual circulation . ll44,,2222ss 9,269 Deposits: Member bank - reserve account . . .. 1,927,311 1,917,613 1,911,496 Government 72,294 111,472 52,572 Foreign bank . . . .. 17,409 14,491 31,249 Special deposits: member bank . . . 63,445 52,754 nonmember bank . . 15,254 9,120 Other deposits 47,441 •49,449 23,325 Total deposits 2,203,154 •2,154,904 2,012,^2 Deferred availability items 331,333 •430,s4i 329,416 Capital paid in 149,645 149,793 155,624 Surplus 273,599 278,599 259,421 All other liabilities 25,135 26,488 29,260 TOTAL LIABILITIES 6,749,825 •6,966,236 5,338,638 Ratio of total reserves to deposit and F, R. notes liabilities combined . 57.3$ 55.5$ 70.9$ Contingent liability on bills purchased for foreign correspondents . . .. 46,549 42,505 335,425 Digitized for FRASER •Revised. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES £JD LIABILITIES OF THE FEDERAL RESERVE BMIS OS MARCH 29, 1933 R E S O U R C ES (in thousands of dollars) £-80rb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran, Sold with Federal reserve agents 2,530,9^0 l6o,3UU 5S5,SH3 132,000 231,1170 143,1U5 26,890 721,^62 118,670 52,1^0 87,280 2k,033 127,663 Gold redemption fund with U.S»Treas. 85,073 6,^77 1S,56U 8,929 7,709 3,117 ^,756 l%4t86l 1,696 3,161 3,7^9 1,686 10,368 Gold held exclusively against R. notes 2,6l6,013 166,821 604,407 140,929 239,179 146,262 >91,646 796,323 120,366 55,301 91,029 25,719 138,031 Gold settlement fund with P.R.Board 2^7,582 5,969 93,373 10,068 18,079 10,538 7,909 35,762 16,516 12,736 4,425 12,198 15,009 I Co IT "7 "7 8,921 8,536 45,697 2,898 3,807 20,202 6,662 28,644 Total gold reserves 3,236,766 203,103 865,317 172,652 290,557 165,721 108,091 877,782 139,780 71,844 115,656 44,579 181,684 Reserves other than gold 205,230 16,078 65,058 20,172 11,116 9,370 6,605 29,135 10,911 3,238 6,844 7,793 14,910 Total reserves 3,441,996 219,181 93^,375 192,824 301,673 175,091 114,696 906,917 150,691 75,082 122,500 52,372 196,594 Torx-reserve cash 131,396 7,457 30,889 4,851 8,450 6,054 10,398 24,671 6,379 2,423 5,949 5,893 17,982 Redemption fund - F.R. bank notes 1,100 150 550 250 50 100 — — — Bills discounted: Secured by U.S.Govt, obligations • 231,800 7,612 129,980 34,194 25,460 4,366 3,592 8,731 2,138 517 11,,887744 557 12,779 Other bills discounted 313,310 12,774 40,576 67,470 36,863 16,349 22,485 14,273 3,682 10,190 19,554 5,265 63,829 Total bills discounted 545,110 20,386 170,556 101,664 62,323 20,715 26,077 23,004 5,820 10,707 21,428 5,822 76,608 Bills bought in open market 310,235 54,924 51,955 9,51^ 6,872 13,057 14,877 77,191 13,850 10,749 7,812 2,513 46,921 U. S. Government securities: Bonds 442222,,777766 21,799 182,085 29,850 36,363 9,918 10,157 45,050 13,956 17,289 12,559 18,019 25,731 Treasury notes 457,872 27,516 175,512 33,260 47,434 12,936 13,064 58,765 17,555 12,689 15,112 10,463 33,566 Certificates and bills 957,722 53,797 342,814 65,031 92,743 25,295 25,544 177,736 34,321 24,808 29,5^9 20,458 65,626 Total U.S.Govt, securities 1,838,370 103,112 700,411 128,l4l 176,540 48,149 48,765 281,551 65,832 5^,786 57,220 4s,94o 124,923 Other securities 5,402 — 4,869 525 — — — — — 8 — — — Total bills and securities 2,699,117 178,422 927,791 239,844 245,735 81,921 89,719 381,746 85,502 76,250 86,460 57,275 248,452 Dae from foreign banks 3,618 270 1,397 388 348 137 123 480 15 10 102 102 246 F. S. notes of other banks 37,143 264 15,344 621 1,479 2,265 1,857 5,463 2,325 1,676 3,205 363 2,281 Uncollected items 316,45s 37,864 90,983 23,79^ 30,367 26,721 7,800 36,537 12,407 6,915 15,951 10,394 16,665 Bank premises 54,037 3,280 12,SIS 3,131 6,929 3,237 2,422 7,595 3,285 1,7^6 3,559 1,741 4,244 All other resources 64,960 602 36,604 4,501 1,916 7,384 5,306 1,276 1,053 1,928 1,200 1,505 1,685 TOTAL 23SOURCES 6,749,S25 447,490 2,050,751 470,254 59°,9^7 302,870 232,321 1,364,685 261,757 166,030 238,926 129,645 488,149 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A:ID LIABILITIES OP THE FEDERAL RESERVE BAKES OIT MARCH 29, 1933 (in thousands of dollars) B-SOlc I I A B I LI Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, P.R.notes in actual circulation 3,747,626 243,483 848,349 277,038 368,087 187,127 154,066 959,982 15S971* 102,224 126,763 44,206 280,327 36 - - P.R.bank notes in actual circulation 14,228 1,468 10,338 1,641 745 — — Deposits: Member bank-reserve account 1,987,311 111155,,447744 890,440 108,546 129,732 57,396 41,848 271,131 62,301 39,732 77,28b 55,^30 137,995 Government 72,294 13,251 23,055 2,795 5 ,% 2,655 544 ll,S73 2,l40 2,110 2,995 2,825 2,752 Foreign bank 17,^9 1,174 6,69 s ^ 1 ,689 1,592 627 563 2,091 5^7 370 466 1+66 1,126 Special deposits: member bank 63,445 2,194 0, 5,303 14,809 6,582 4,606 Ik,Sis 4,102 839 752 190 4,089 nonmember ban]: 15,254 2,201 1,009 661 1,424 634 3,7^9 3,250 1,673 182 3 46s Other deposits 47,441 1,005 13,5^ 256 2,999 3,06s 2,816 6,576 3,1*29 1,235 1,760 275 10,477 Total de-posits 2,2 03,15^ 133,098 91+1,039 119,598 155,292 71,752 51,011 310,099 75,769 1+5,959 83,1+1+1 59,189 156,907 Deferred availability items 331.388 37,599 100,595 25,977 28 , 285 25,740 9,221+ 36,080 14,493 6,660 15,335 11,892 18,808 Capital paid in 149,645 10,718 58,374 15,81+0 13,956 5,135 U,6i+i 15,558 4,258 2,81+7 l+,002 3,790 10,526 Surplus 278,599 20,1+60 85,05s 29,21+2 28,291+ ll,6l6 10,51+U 39 ,l;-97 10,186 7,019 8,263 8,719 19,701 All other liabilities 2^,185 664 6,998 91s 2,2SS 1,5 00 2,835 3,4b? 1,041 1,121 622 1,81+9 1,880 TOTAL LIABILITIES 6,7 Hs,S25 1+1+7,1+90 2,050,751 470,254 596,91+7 302,870 232,321 1,361+,6S5 261,757 166,030 238,926 129,6^5 i+88,ll+9 Reserve ratio (per cent) 57.8 58.2 52.2 1+8.6 57.6 67.6 55.9 71/4 65.0 50.7 58.3 52.2 1+5.0 Contingent liability on bills purchased for foreign correspondents 1+6,51+9 3,1+69 14,897 1+.990 4,705 1,85!+ 1,663 6,179 1,616 1,093 1,378 1,378 3,327 MATURITY DISTRIBUTION 0? BILLS AITD SHORT T3RL1 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 3ills discounted 51+5,110 396,353 33,408 42,898 62,495 7,639 2,317 Bills bought in open market 310,235 72,1+71 60,165 145,905 31,481 213 Certificates and bills 957,722 31,000 60,100 183,347 210,875 309,872 162,558 Municipal warrants 5,402 5,288 84 30 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SCLERAL RESERVE 1J0TS STATEMENT ON MARCH 29, 1933 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.CSy. Dallas San Fran. Federal reserve noteg: Issued to F.R.Bank by F.R.A-ent 4,092,652 266,182 948,142 289,591 3^,576 195.992 166,343 1,053.613 167,212 107,531 139,1^1 48,147 326,182 Held by Federal reserve bank 345,026 22,699 99.793 12,553 16,489 8,865 12,277 93.631 11,238 5,307 12,378 3.9^1 ^5.855 In actual circulation 3,7^7,626 243,483 848,349 277.038 368,087 187.127 I5M66 959.932 155.97^ 102,22k 126,763 44,206 280,327 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 1,2^8,105 57.327 393,743 86,050 74,470 41,640 20,890 383,462 35.970 25,140 10,480 17,033 101,900 Gold fund - F. R. Board 1,282,835 103,017 192,100 1*5,950 157,000 101,505 66,000 393,000 82,700 27,000 76,soo 7,000 25,763 Eligible paper 715*594 70,323 202,530 76,120 64,oos 32,513 3^.561 93,635 18,016 18,400 17,866 6,1*34 81,184 U. S. Gov't, securities 268,700 37.500 160,000 82,000 90,000 24,000 46,000 179.000 34,000 37.700 Ho,000 18,500 120,000 Total collateral 4,115,234 268,167 948,373 290,120 385,47s 199.65s 167,451 1,054,101 170,686 108,240 145,146 43,967 328,847 FEDERAL RESERVE BAFK FOTE STATEMENT ON MARCH 29, 1933 (In thousands of dollars) Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve bank notes: Issued to F.R.Bank (Outstanding) 21.049 2,040 12,249 5,000 1,600 — — — l60 Held by Federal reserve ban!: 6,521 572 1,911 3,359 855 " 12^ 36 - - In actual circulation 14,228 1,468 10,33S l,64l 7^5 Collateral pledged against outstanding notes: Discounted and purchased bills 5.087 2,300 2,59s 1S9 U. S. Gov't, securities 25.249 12,249 8,000 5,000 Total collateral 30,336 2.-300 12,249 8,000 2.598 5,189 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis