H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, April 7; Federal Reserve Board not earlier. April 6, 1933® CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve "bank credit outstanding during the week ending April 5* as reported by the Federal reserve banks, was $2,5s7t000»000, a decrease of $200,000,000 compared with the preceding week and an increase of $987f000,000 compared with the corresponding week in 1932. On April 6 total reserve bank credit amounted to $2,57^000,000, a decrease of $11^,000,000 for the week, this decrease corresponds with decreases of $92,000,000 in money in circulation and $11,000,000 in member bank reserve balances and an increase of $11,000,000 in monetary gold stock, offset in part by a decrease of $3,000,000 in Treasury currency, adjusted. Bills discounted decreased $55,000,000 at the Federal Reserve Bank of New York $39,000,000 at Philadelphia and $109,000,000 at all Federal reserve banks. The System*s holdings of bills bought in open market declined $2^,000,000, while holdings of United States Government securities shows little change for the week. Changes in the amount of reserve bank credit outstanding and inrrelated items during the week and the year ending April 5, 1933t were as follows: Increase or decrease since Apr. 5 Mar. 29 Aor. 6 1,933 1933 J=222. (In millions of dollars) Bills discounted U36 -109 - 199 Bills bought 286 - 2k + 228 U. S. Government securities 1,837 - 1 + 952 Other reserve bank credit 15 + 21 - 6 TOTM, RESERVE BASK CREDIT 2,57^ -11H + 975 Monetary gold stock U,2S3 + 11 - 113 Treasury currency adjusted 1,356 - 3 + 50 Money in circulation 6,261 - 92 + S03 Member bank reserve balances 1,976 11 + - Unexpended capital funds,nonmember deposits,etc. ^77 l + 77 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Apr. 7.1933". not earlier. B-801a RESOURCES AED LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Apr.. 5., 1933 Mar. 29,1933 Apr. 6,1932 R E S 0 U R C E S Gold with Federal reserve agents . . . 2,575,405 2,530,940 2,181,947 Gold redemption fund with U.S.Treasury 76,479 85,073 43,201 Gold held exclusively against F,R.notes 2,651,334 2,616,013 2,225,148 Gold settlement fund with F.R. Board , 281,560 247,582 318,494 Gold and gold certificates held by "banks 345,393 373,171 4Sg,560 Total gold reserves 3,278,837 3,236,766 3,032,202 Reserves other than gold . 205,230 212,544 209,585 Total reserves . . .. 3,488,422 3.441,996 3,244,746 Non-reserve cash . . .. ^ . . . .. . 110,070 131,396 74,062 Redemption fund - F. R. "Kank notes . . 1,100 1,100 ™ Bills discounted: Sec. by U.S. Government obligations 138,926 231,800 319,796 Other bills discounted . . 297,251 313,310 315,478 Total bills discounted . . 436,177 545,110 635,274 Bills bought in open market . . . .. 285,973 310,235 57,946 U, S. Government securities: 318,690 Bonds . . . . . . . . .. . . . .. 421,774 422,776 Treasury notes 457,871 457,872 84,395 Certificates and bills 957,723 957,722 481,929 Total U.S.Government securities 1,837,36s 1,838,370 885,014 Other securities . . . . . . . . . .. 5,402 4,321 5,541 Total bills and securities . 2,565,059 2,699,117 1,582,555 Due from foreign banks 3,620 3.618 6,644 F. R, notes of other banks . . . . .. 24,211 37,143 14,810 Uncollected items . . . . . . . . .. 321,430 316,45s 362,758 Bank premises . . . . . . . . . . .. 54,123 54,037 57,853 All other resources . . . . . . . .. 57.4G7 64,960 36,602 TOTAL RESOURCES 6,625,522 6,749,825 5,380,030 - L I A B I L I T I ES F. R. notes in actual circulation . . 3,644,137 3,7^7,626 2,561,573 F. R. bank notes in actual circulation l4,228 15.930 Deposits: Member bank - reserve account . . . 1,975,731 1,987,311 1,942,26s Government . . . . . . . . . . .. £5»596 72,294 28,137 Foreign bank 10,935 17,409 29,712 Special deposits - member bank . . 69,^2 63,445 nonmember bank 17,466 1*5,254 Other deposits U7.4U1 20,044 36,985 2,020,161 Total deposits . . .. 2,196,055 2,203,154 Deferred availability items . . .. 331.388 353,218 315.7^5 Capital paid in , » 1^9»617 149,645 155,558 Surplus 278,599 259,421 278,599 All other liabilities . . 25,185 30,099 25,439 TOTAL LIABILITIES . . . 6,625,522 6,749,825 5,380,030 Ratio of total reserves to deposit and F. R, note liabilities combined . . 59.i 57.8$ 70, { Contingent liability on bills purchased for foreign correspondents . .. . 50,330 46,549 335,312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OP THE FEDERAL RESERVE BASKS OU APRIL 5, 1933 R E S O U R C ES (In thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St..Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,575,405 171,494 623,843 162,000 223,470 142,465 87,725 756,977 115.060 52,ISO 80,280 20,648 139,263 Gold redemption fund with U.S.Treas. j6,kjS 5,980 15,159 6,504 7.601 2,876 4.516 15,541 1,589 3,111 3.712 1,647 10,243 Gold held exclusively against F. R. notes 2,651,884 177,474 639,002 168,504 231,071 l45,34l 92,241 770,512 116,619 55,291 83,992 22,295 149,506 Gold settlement fund with F.R.Board 281,560 6,820 113,686 8,026 17.9S2 12,351 11,179 3S.6U8 18,510 13,669 6,643 12,421 21,625 Gold and gold certif. held by hanks 345,393 23,009 161,557 20,033 34,412 9,468 7.857 2^.64l 2.671 4,651 21.184 5.672 28.038 Total gold reserves 3,278,837 207,303 914,245 196,563 283,465 167,160 111,277 835,807 137,830 73.6il 112,019 4o,3S8 199,169 Reserves other than gold 209,585 15,648 70.075 20,494 12,459 9,o6o 7,009 31,995 9,963 2,471 7,238 7,697 15.476 Total reserves 3,488,422 222,951 934,320 217,057 295,924 176,220 118,286 867,802 147,793 76,082 119,257 48,085 214,645 lTon-reserve cash 110,070 6,364 24,322 5,011 8,l4i 4,550 6,273 25,427 6,214 1,924 4,546 5,124 12,114 Redemption fund - F.R. "bank notes 1,100 150 550 25O 50 ~ — — 100 Bills discounted: Secured by U.S.Govt, obligations 13C.926 6,834 69,253 17,106 14,976 3,275 3,734 4,732 1,885 508 1,601 458 14,514 Other bills discounted 297.251 12,187 46,362 45,589 38.709 15.436 22.608 l4.oUo 3.220 9.536 20.219 5.216 64,129 Total bills discounted 436,177 19,021 115,615 62,695 53.685 IS,711 26,342 18,822 5,105 10,044 21,820 5,674 78,643 Bills bought in open market 285,973 53,963 59,954 9,288 5,952 8,600 12,612 79,072 13,194 10,366 7,582 1,048 24,342 U. S. Government securities: Bonds 421,774 19,739 137,233 30,9H 36,362 9,91s 10,153 39,902 13,956 17,291 12,559 18,020 25,730 Treasury notes 457.871 24,828 182,229 35,947 47,435 12,936 13,064 52,048 17,555 12,688 15,112 10,463 33,566 Certificates and bills 957,723 48.545 355.949 70.283. 92.743 25.295 25.544 164.601 34.321 24,809 29,549 20,457. 65,627 Total U.S.Govt, securities 1,837,368 93,112 725,411 137.141 176,540 48,149 48,761 256,551 65,832 54,788 57.220 48,940 124,923 Other securities 5.541 4,914 525 — — —- 102 — — Total hills and securities 2,565,059 166,096 905,894 209,649 236,177 75,460 87,715 354,445 84,131 75,300 86,622 55,662 227,908 Dae from foreign banks 3,620 277 1,336 399 358 l4l 127 494 15 10 105 105 253 F. R. notes of other banks 24,211 216 7.360 532 2,568 1,510 1,129 4,725 1,173 556 2,798 2J3 1,371 Uncollected items 321,430 34,944 93,978 25,453 29,296 27,397 8,952 39.443 12,434 6,544 17,871 10,444 14,674 Bank premises 54,123 3,280 12,318 3,267 6,929 3,237 2,422 7,595 3.285 lj46 3,559 l,74l 4,244 All other resources 57,487 1.046 27.34l 4,480 1,899 8.032 5,447 1,191 1,119 1,918 1,194 1,500 , 2,320 TOTAL RESOURCES 6,625,522 435,324 2,057,979 466,098 581,342 296,547 230,351 1,301,122 256,264 164,080 235.952 122,934 477.529 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON APRIL 5, 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 240,079 824,197 268,114 354,999 182,430 I4S,339 929,556 152,488 101,54s 125,435 43,366 273,5S6 ]F R."ban3£ notes in actual circulation 15,930 1,911 10,232 2,830 91s 39 # Deposits: Member "bank - reserve account 1,975,731 121,049 897,808 115,114 128,873 59,104 43,441 242,923 62,777 38,892 74,736 51,625 139,389 Government 25,596 1,055 67,772 253 4,735 1,307 928 2,997 1,705 1,685 1,726 349 1,084 Foreign bank 10,935 797 3,665 l,l46 1,080 426 382 1,419 371 251 317 317 764 Special deposits: member bank 69>3^2 2,59S 5,553 5,497 14,490 4,912 6,289 17,200 4,228 1,023 2,988 199 4,365 nonmember bank 17,^66 2,279 1,315 766 S15 77S 6,449 2,631 1,861 153 y 4l6 Other deposits 1,184 8,006 3,113 2,660 4,991 2,59S 1,425 495 244 3*031 Total deposits 2,196,055 126,683 985,083 123,540 152,967 69,677 54,478 275,979 74,310 45,137 80,415 52,737 155,049 Deferred availability items 315,745 34,833 87,962 25,656 27,928 26,159 9,405 37,068 13,95S 6,429 17,209 12,>37 16,801 Capital paid in 149,617 10,710 52,374 15,840 13,965 5,135 4,628 15,564 4,258 2,847 3,997 3,789 10,510 Surplus 278,599 20,460 25,05s 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 S.719 19,701 All other liabilities 25,439 .648 7,073 876 2,271 1,530 2,957 3,458 1,025 1,100 633 1,986 1,882 TOTAL LIABILITIES 6,625,522 435,324 2,057,979 466,098 581,342 296,547 230,351 1,301,122 256,264 164,080 235,952 122,934 477,529 Reserve ratio (per cent) 59.7 60.8 54.4 55.4 58.3 69.9 5S.3 72.0 65.2 51.9 57.9 50.Q 50.1 Contingent liability on bills purchased for foreign correspondents 50,330 3,674 16,811 5,284 4,982 1,963 1,761 6,543 1,711 1,15S 1,460 l,46o 3,523 MATURITY DISTRIBUTION 0? BILLS AND SHORT TEEM 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 436,177 298,339 28,447 38,823 6l,700 7,393 1,475 Bills bought in open market 285,973 78,144 72,677 119,424 15,520 208 Certificates and bills <957,723 60,000 112,247 139,000 195,075 288,872 162,529 Municipal warrants 5,541 5,333 51 152 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK APRIL 5, 1933 (In thousands of dollars) B-801d Total Boston New York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran, Federal reserve notes: Issued to F.R.Bank by F.B. Agent 3,965,202 259,250 91s,99^ 287,661+ 367,571 191,773 159,127 1,015,037 163,017 105,997 136,075 ^6,H67 31^,230 Held by Federal reserve bank 321,065 19,171 9V797 19,550 12,572 9,3^3 10,73s 85,1+81 10,529 10,6140 3,101 Uo,6l+i+ In actual circulation 3,6^,137 2^0,079 S2H,197 268,111+ 35^,999 182,1+30 1^8,339 929,556 152,1+88 101,54s 125,1+35 ^3.366 273,586 CollateraJ held by agent as security for notes issued to banks Gold and gold certificates 1,281,070 65,1+77 393,7^3 86,050 7^70 1+1,960 21,725 >+03,977 36,360 25,130 10,1+80 18,11+8 103,500 Gold fund - F. R. Eoard 1,291+, 335 106,017 230,100 75,950 "11+9,000 100,505 66,000 353,000 78,700 27,000 69,soo 2,500 35,763 Sligible paper 56s,iK)6 68,295 139,033 1+1,222 5i+,U03 26,002 32,721 92,131 15.785 17,383 18,062 ^,937 58.^29 U. S. Gov't, securities 853,700 26,500 157,000 85,000 90,000 2!+,000 1+6,000 167,000 3M00 37,700 1+5,000 21,500 120,000 Total collateral 3,997,511 266,289 919,876 288,222 367,873 192,467 166,1+1+6 1,016,108 161+,SH8 107,263 11+3,3^2 1+7,085 317,692 FEDERAL RESERVE BAIHI NOTE STATEMENT ON APRIL 5, 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) 21,01+9 2,01+0 12,2^9 5,000 1,600 — — -- l60 Held by Federal reserve bank 5,119 129 2,017 2,170 682 — ~ — 121 In actual circulation 15,930 1,911 10,232 2,830 918 39 Collateral pledged against outstanding notes: Discounted and purchased bills 5,3^8 2,300 2,683 365 U. S. Gov't, securities 25,21+9 12,21+9 8,000 5,000 Total collateral 30,597 2,300 12,21+9 8,000 2,683 — — — 5.365 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis