H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, April lH; Federal Reserve Board not earlier April 13, 1933. # CONDITION OF ZEEERAL RESERVE BAICS The daily average volume of Federal reserve bank credit outstanding during the week ending April 12, as reported by the Federal reserve banks, was $2,555»000,000, a decrease of $32,000,000 corrrpared with the preceding week and an increase of $926,000,000 compared with the corresponding week in 1932. On April 12 total reserve bank credit amounted to $2,528,000,000, a decrease of $46,009,000 for the week. This decrease corresponds with a decrease of $114,000,000 in money in circulation, and increases of $10,000,000 in monetary gold stock and $57,000,000 in Treasury currency, adjusted, offset in part by increases of $120,000,000 in member bank reserve balances and $14,000,000 in unexpended capital funds, nonmember deposits, etc* Bills discounted increased $6,000,000 at the Federal Reserve Bank of New York, and declined $7*000,000 each at Philadelphia and San Francisco and $8,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $39,000,000, while holdings of United States Government securities show little change for the week. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending April 12, 19331 were as follows: Increase or decrease since Apr, 12 Apr. 5 Abr. 13 1933 1933 1932 (in millions of dollars) Bills discounted U2S - s - 201 Bills "bought 2U7 - 39 + 195 II. S. Government securities 1,837 ~ + S52 Other reserve bank credit 16 + l H TOTAL HES3RVE BANK CREDIT 2,523 - H6 SU2 Monetary gold stock 4,293 + 10 - si Treasury currency adjusted 1,913 + 57 133 Money in circulation 6.1^7 -llU + 72U Member bank reserve balances 2,096 +120 85 Unexpended capital funds,nonmember deposits,etc. U91 + 14 + so Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, April 1333J earlier. B-801a RESOURCES Aim LIABILITIES OF THE T'flELTE FEDERAL RESERVE BJLFES C0MBIK3D (in thousands of dollars) Apr. 12,1933 Apr. 5,1933 Apr. 13,1932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,590,790 2,575,^05 2,192,997 Gold redemption fund with U.S.Treasury . 73,426 76,479 41,830 Gold held exclusively against F.R.notes 2,664,216 2,651,884 2,234,827 Gold settlement fund with F.R. Board . . 327,719 281,560 317,085 Gold and gold certificates held "by "banks 323,511 3^5,393 466,4oo 3,018,312 Total gold reserves 3,315,^6 3,278,837 Reserves other than gold 213,830 209,585 214,737 Total reserves 3,529,276 3,488,422 3,233,049 Ion-reserve cash 109,901 110,070 78,99^ Redemption fund - F. R. bank notes . . . 1,400 1,100 — Bills discounted: Sec. by U.S. Government obligations . 130,707 133,926 331166,,008888 Other bills discounted 297,749 297,251 312,51^ Total bills discounted . . . 428,45b 436,177 628,602 Bills bought in open market 246,964 285,973 51,809 U.S.Government securities: Bonds 421,590 421,774 321,183 Treasury notes 457,872 457,871 85,446 Certificates and bills 957,721 957,723 578,395 Total U.S.Government securities . 1,837,183 1,837,368 985,024 Other securities 5,541 4,476 5,541 Total bills and securities . 2,518,144 2,565,059 1,669,911 Due from foreign banks 3,760 3,620 6,669 F. R. notes of other banks 20,670 24,211 14,107 Uncollected items 321,107 321,430 410,810 Bank -premises 54,122 54,123 57,854 Al"1 other resources 52,646 57,487 37,960 TOTAL RESOURCES 6,611,026 6,625,522 5,509,35^ L I A B I L I T I ES F.R. notes in actual circulation . . . 3,547,285 3,644,137 2,537,075 F.R. bank notes in actual circulation . 19,890 15,930 — Deposits: Member bank - reserve account . . .. 2,096,079 1,975,731 2,010,899 Government 34,992 85,596 52,494 Foreign bank . . 10,697 10,935 41,137 Special deposits - member bank . . .. 69,342 72,993 — nonmember bank . . 17,466 19,451 — Other de-oosits 39,518 36,985 19,435 Total deposits . . . . .. 2,273,730 2,196,055 2,123,965 Deferred availability items 31^,530 315,7^5 401,809 Canital paid in 149,636 149,617 155,45s SUTDIUS 278,599 278,599 259,421 All other liabilities . . .. 27,356 25,^39 31,626 TOTAL LIABILITIES . . .. 6,611,026 6,625,522 5,509,35^ Ratio of total reserves to deposit and P. R. note liabilities combined . . . 60.6$ 59.7$ 69.4$ Contingent liability on bills purchased for foreign correspondents 48,274 50,330 332255,,668844 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 12, I933 R E S O U R C ES (In thousands of dollars) £-801b Total Boston New York phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran Gold with Federal reserve agents 2,590,790 172,444 630,843 163,000 221,970 143,580 82,835 761,837 H5.925 54,055 81,290 21,748 l4l,2&3 Gold redemption fund with U.S.Treas. " " nr~ r " ' ~ "" ~ " " ' ' , l,b02 10,177.. Gold held exclusively against F. R, notes 2,664,216 172,259 646,824 169,300 229,173 146,402 87,057 773,036 117,306 57,116 84,953 23,350 151,440 Gold settlement fund with F.R.Board 327,719 12,729 112,661 7,226 23,872 12,863 12,504 68,420 20,100 i4,m 7,672 10,260 25,241 Gold and gold certif. held by banks 323,511 22,754 17^,155 20,464 22,1U7 8,489 7,757 11,073 2,995 1,3^8 20,215 5,652 26.462 Total gold reserves 3,315,^6 213,802 933,640 196,990 275,192 167,75^ 107,31s 852,529 I4O,4QI 72,575 112,840 39,262 203,143 Reserves other than gold 213,830 15,52U 70,645 20,605 13,84s 9,788 7,009 32,31^ 9,389 2,842 7,728 8,230 15,908 Total reserves 3,529,276 229,326 1,004,285 217,595 289,040 177,5^2 114,327 884,843 14p,790 75,^17 120,568 47,492 219,051 Non-reserve cash 109,901 6,510 26,747 4,36l 6,745 4,836 6,006 24,621 6,687 2,123 4>111 5,337 11,817 Redemption fund - F.R. bank notes 1,1+00 150 800 250 100 — — 100 Bills discounted: Secured by U.S.Govt, obligations 130,707 6,286 72,188 12,533 15,520 1,120 3,877 4,923 1,465 562 1,846 3S3 10,004 Other bills discounted 297,749 11,576 ,595 43,047 3S,3S8 ----- Total bills discounted 428,456 17,862 12.1,533 55,580 53,908 21,049 25,673 18,860 9,813 21,895 5,488 72,431 Bills bought in open market 246,964 U7.7S7 39,996 8,546 5,485 6,6o4 12,444 73,s4o 11,649 9,593 6,869 l,04s 23,103 U S. Government securities: # Bonds 421,590 19,739 187,196 30,911 36,363 9,91S 10,035 39,902 13,956 17,262 12,559 18,019 25,730 Treasury notes 457,872 24,829 182,229 35,9^7 12,936 13,064 52,048 17,555 12,609 15,112 10,463 33,566 Certificates and bills 957,721 48,544 355,94s 70,28? 92,743 25,295 25,5^ 164,602 3^,321 24,807 29,5^9 20,45s 65,627 Total U.S.Govt, securities 1,837,183 93>H2 725,373 137,i4l 176,5^0 4s,l49 48,643 256,552 65,832 54,75s 57,220 Us,9^0 124,923 Other securities 5,5^1 — 4,9l4 525 — -- — 102 Total bills and securities 2,518,144153,761 891,866 201,792 235,933 75,802 86,760 '3^9,252 81,795 74,266 85,984 55,476 220,^57 Due from foreign banks 3,7^0 277 1,476 399 35S l4l 127 4g4 15 10 105 105 253 F. R. notes of other banks 20,670 290 5,426 324 1,282 1,163 1,162 5,329 1,713 559 1,R98 376 l 44g f Uncollected items 321,107 35,981 S7,6lO 26,266 31,087 27,33^ 9,828 36,393 14,334 J,209 17,5^3 10,798 16,722 Bank premises 54,122 3,280 12,817 3,267 6,929 3,237 2,422 7,595 3,285 1,746 3,559 l 74l 4,244 t All other resources 52,646 l.OTL 27,712 4.562 1,907 3,171 5,409 1.166 1,084 1.896 l,l4p 1,496 2.070 TOTAL RESOURCES 6,611,026 435,606 2,058,739 ^5S,Sl6 573,381 293,230 226,041 1,309,693 258,803 163,226 234,608 122,821 476,062 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AIED LIABILITIES OP THE FEDERAL RESERVE BARKS OH APRIL 12, 1933 (in thousands of dollars) B-801c L I A B I L I T I ES Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy,, Dallas Saxi Fran, F.R.notes in actual circulation 3,5^7,285 236,041 794,SbO 261,522 346,945 178,267 144,805 903,507 150,028 99,65s 123,220 42,454 265,97s F.R.bank notes in actual circulation 19,890 1,719 12,805 4,330 997 — — — 39 — — : Deposits: Member bank - reserve account 22,,005566,,007799 122,708 985,760 110,907 112299,,668833 5566,,001122 4422,,224422 ,, 227755,,^^6655 6644,,119966 3399,,666622 77^^,,7799SS 50,920 143,726 Government 34,992 1,701 -14,056 917 2,394 l,4is 1,513 4,856 1,946 1,063 1,753 1,349 2,016 Foreign bank 10,697 797 3,^27 l,l46 1,080 426 332 1,419 371 251 317 317 764 Special deposits: member bank 72,993 2,794 4,925 5,603 14,666 5,741 6,290 19,66s 4,754 1,066 3,51* 182 3*790 nonmember bank 19,451 — 2,704 1,293 930 1,157 587 7,204 2,826 2,051 195 7 497 Other deposits 39,513 2,270 8,756 91 3,064 4,952 2,315 2,917 3,305 1,357 422 5SS 9,4si Total deposit s 2,273,730 130,270 1,019,638 119,957 151,817 69,706 53,329 3H,529 77,39S 45,450 80,999 53,363 160,274 referred availability items 314,530 35,763 so,252 26,402 .29,025 26,941 9,747 36,323 15,7S0 7,148 17,4S9 11,96s 17,692 Capital paid in 149,636 10,710 58,37^ 15,84o 13,9^2 5,202 4,625 15,570' 4,248 2, S40 - 3,996 3,779 10,510 -Surplus 272,599 20,460 85,05s 29,242 28,294 11,616 10,544 39,497 10,156 7,019 8,263 S,719 19,701 All other liabilities 27,356 643 7,752 1,523 2,361 1,49s 2,991 3,267 1,124 1,111 64i 2,538 1,907 TOTAL LIABILITIES 6,611,026 435,606 2,058,739 458,816 573,381 293,230 226,o4i 1,309,693 258,803 163,226 234,608 122,821 47o,OO2 Reserve ratio (per cent) 60.6 62.6 55.3 57.0 58.0 71.6 57.7 72.8 65.9 52.0 59.0 49.6 51.4 Contingent liability on bills purchased for foreign correspondents 48,274 3,67^ 14,755 5,284 4,982 1,963 1,761 6.5*3 1,711 1,158 l,46o l,46o 3,523 MATURITY DISTRIBUTION OF BILLS AMD 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 428, U56 294,881 28,271 33,731 63,319 6,884 1,370 Bills bought in open market 246,964 60,566 76,618 100,380 9,19s 202 Certificates and "bills 957,721 60,100 95,^97 156,050 163,675 319,271 162,528 Municipal warrants 5,5^1 5,333 51 152 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK APRIL 12, 1933 (in thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve notes: Issued to F.R.Bank "by F.R.Agent3,843,9b0 254,544 891,901 282,392 361,950 187,644 153,475 956,663 161,209 10H,258 135,39S 45,914 308,612 Held "by Federal reserve bank 296,675 18,503 Q7.04l 20.870 15.005 Q.177 8.670 11,181 **.60Q .1P.1.78 ^ 60 4?,634 In actual circulation 3,547,285 236,04l 794,360 261,522 3^6,9U5 178,267 ll+4,805 903,507 150,028 99.6-58 123,220 42,5^4 265,97s Collateral held by agent as security for notes issued to bank: 66,5+27 86,050 86,5+70 43,075 21,835 Gold and geld certificates ,303,955 393,743 '416,837 37,225 27,055 11,^+90 18,2US 95,500 Gold fund - F. R. Board 1,,;2 86,835 106,017 237,100 76,950 135,500 100,505 61,000 35+5,000 78,700 27,000 69,800 3,500 45,763 Eligible paper 518,837 61,042 5,26s 34,355 53,201 21,335 32,36s 3S,6is 13,65+1 16,5+89 17,25+1 4,9 j 7 52,282 U. S. Gov't, securities z 6^000 26,500 lUo.ooo s6,ooo 90,000 24,ooo Uo,ooo 109,000 34,000_j6,000 42.000 20,500 120^00Q_ Total collateral 3,877,627 259,9S6 896,111 283,355 365,171 188,915 155,203 957,455 163,566 106,544 140,531 47,245 313,5^5 FEDERAL RESERVE 3AI-TE BOTE STATEMENT OF APRIL 12, 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.Banlc (Outstanding) 29,044 2,040 20,724 5,000 1,120 160 Held by Federal reserve bank 9,154 321 '.919 670 123 121 In actual circulation 19,890 1,719 12,805 4,330 997 39 Collateral pledged against outstanding notes: Discounted and purchased bills 6,129 2,300 3,5^3 286 U. S. Gov't, securities 33.724 20.724 8.000 5,000 - - - - ... Total collateral Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis