H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PR2SS Released for publication B-S01 Friday morning, May 5; Federal Reserve Board not earlier. May 4, 1933 CONDITION OF FEDERA.L RESERVE BAMS The daily average volume of Federal reserve "bank credit outstanding during the week ending May 3, as reported "by the Federal reserve "banks, was $2,436,000,000, a decrease of $21,000,000 compared with the preceding week and an increase of $594,000,000 compared with the corresponding week in 1932. On May 3 total reserve bank credit amounted to $2,396,000,000, a decrease of $16 ,000,000 for the week. This decrease corresponds with decreases of $102,000,000 in member bank reserve balances and $40,000,000 in money in circulation and an increase of $2,000,000 in monetary gold stock, offset in part by a decrease of $117,000,000 in Treasury currency, adjusted, and an increase of $11,000,000 in unexpended capital funds, nonmember deposits, etc. Bills discounted increased $15,000,000 at the Federal Reserve Bank of Cleveland, $7,000,000 at Son Francisco and $15,000,000 at all Federal reserve banks. The System's holdings of bills bought in ppen market declined $33»OOOOOO, while t holdings of United States Treasury notes increased $83,000,000, and those of Treasury certificates and bills declined a .like amount. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending May 3t 1933 > were as follows: Increase or decrease since May 3 Apr. 26 May 4 1933 19?? J323. (In millions of dollars) Bills discounted 4oo + 15 ~ 106 Bills bought 144 ~ 33 + 99 + 550 U. S. Government securities 1,837 Other reserve bank credit 15 +3 7 TOTAL RESERVE BAEK CREDIT 2,396 ~ 16 •+ 537 Monetary gold' stock ^ 4,312 + 2 - >33 Treasury currency adjusted 1,S1S -117 Money in circulation 5,954 ~ 4o + 506 Member bank reserve balances 2,034 -102 - 113 Unexpended capital funds, nonmember deposits, etc 53s +11 + 110 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 5, 1333? not earlier. B-SOla RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) May 3,1933 iter. 26,1933 May 4, 1932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,665,104 2,671,746 2,269,181 Gold redemption fund with U.S.Treasury . 62,500 63,87! 35,510 Gold held exclusively against F.R.notes 2,727,6o4 2,735,617 2,304,691 Gold settlement fund with F. R. Board . 321,318 307,419 321,685 Gold and gold certificates held "by hanks 386,648 353,302 366,045 Total gold reserves . . . .. 3,435,570 3i396,338 2,992,421 Reserves other than gold 218,764 222,713 210,825 Total reserves 3,65^334 3,6(19,051 3i203,246 Non-reserve cash . . 93*551 106,105 72,354 Redemption fund - F. R bank notes . . 3,618 3,293 # Bills discounted: Sec. "by U.S.Government obligations . . 97,976 220,079 Other hills discounted 302,'126 291,567 285,722 Total "bills discounted . . . ~400,102 385,001 505,801 Bills bought in open market . . . . .. 144,152 177,450 44,522 U. S. Government securities: Bonds . 421,576 421,476 346,149 Treasury notes . 588,972 506,083 111,222 Certificates and bills . . . . . . .. 826,730 909,513 829,510 Total U.S.Government securities 1,837,278 1,837,072 1,286,881 Other securities . . . . . . . . . . .. 5,64l 5,451 4,929 Total bills and securities . 2,367,173 2,404,974 1,842,133 Due from foreign banks • . 3,656 3,656 5t692 F. R. notes of other banks 19!471 20,355 1&,3§2 Uncollected items 337,'l57 318*392 370,850 Bank premises 54,250 5^,13*+ 58,083 All other resources . 44^673 46,242 37,178 TOTAL RESOURCES . . . .. 6,597,883 6,576,202 5,603,928 L I A B I L I T I ES F.R. notes in actual circulation . . .. 3,395,369 3,424,114 2,561,646 F.R. bank notes in actual circulation . 56,059 36,798 Deposits: Member bank - reserve account . . .. 2,033,939 2,135,808 2,l47,l4S Government . .. l44,4o6 37.165 12,337 Foreign bank 27,272 26,810 45,063 Special deposits - member bank . . .. 80,512 77,664 nonmember bank . . 17,46l 16,155 Other deposits 56,511 51,8% 32,054 Total deposits 2,360,101 2,345,451 2,237,102 Deferred availability items . . . . .. 331,621 315,218 359#198 Capital paid in . 150,187 150,330 154,892 Surplus 278,599 278,599 259,^21 All other liabilities 25,947 25,692 31,669 TOTAL LIABILITIES . . .. 6,597,883 6,576,202 5,603,928 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 63.5$ 62.7$ 66 8$ # Contingent liability on bills purchased for foreign correspondents . . . .. 42,189 HS.2S0 27S,0^2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BAHKS ON MAY 3. 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 agtents -2,665,10l+ 192,91+1+ 633,51+6 176,000 201,970 11+6,135 85,365 815,117 122,950 53,9?6 82,290 20,538 13^,263 Gold redemption fund with U.S.Treas. 62,500 5,626 10,1+85 1+,921 7,808 2.288 3.681+ 10.131 1,678 2,1+65 3,183 1.1+71 8.760 Gold held exclusively against F. R. notes 2,727,6(& 198,570 61+1+.031 180,921 209,778 11+8,1+23 89,01+9 825,248 124,628 5566,,11++5511 85,^73 22,009 11+3,023 Gold settlement fund with F.R.Board 321,318 20,698 51,600 19,ll+2 22,251 20,061 8,101 75,675 23,612 13,907 23,170 ii+,670 28,1+31 Gold and gold certif. held by "banks i 386,648 22,76s 226,198 16,3>+3 2i+,822 7,1+21 io,gs6 15,873 2,1+55 2,859 13,230 6,093 37,600 Total gold reserves 3,>+35.570 21+2,036 921,829 2l6,l+06 256,851 175,905 108,136 916,796 150,695 73,217 121,873 1+2,772 209,051+ Reserves other than gold 218,761+ 16,531+ 69,1+23 21,602 17,922 11,063 7,90i+ 30,863 8»5i+i+ 3,127 3,206 7,515 16,011 Total reserves 3,65^,33^ 258,620 991,252 238,008 27l+,773 186,96S Il6,0ll0 91+7,659 159,239 76,31+1+ 130,079 50,287 225,065 Non-reserve cash 93,551 5,996 20,91+3 l+,l+55 6,270 *+,537 6,821 18,773 5,987 1.932 3,022 *+,537 10,278 Redemption fund - F.R. "bank notes 3,618 150 1,600 • 292 250 50 1,000 100 26 50 100 — Bills discounted: Secured "by U.S.Govt, obligations 97,976 5,6119 1+2,780 9,320 18,532 1,675 2,210 l+,l+06 1,353 272 1,1+26 93U 9,^19 Other bills discounted 302,126 10,31+1+ 1+8,51+6 38,139 60,57^ 18,500 19,932 12,376 2,31+0 8,217 13,71+8 6,620 62.790 Total bills discounted 1+00,102 15,993 91.326 79,106 20,175 22,lU2 16,782 3,693 8,1+89 15,17^ 7,55*+ 72.209 Bills bought in open market ll+l+,152 30,823 23,0Sl+ 3,970 3,5^ 2,036 7,993 37,980 5,917 6,700 523 18,099 U. S. Government securities: Bonds 1+21,576 19,739 183,221+ 30,911 36,363 9,915 10,028 39,903 13.957 17,258 12,559 16,990 25,729 Treasury notes 583,972 32,261 232,513 1+6,707 61,633 16,CIO 16,975 67,627 22,809 16,538 19,637 11,81+9 43,613 Certificates and bills 826,730 1+1,112 309.637 59,523 78,5^ 21,1+21+ 21,632 11+9,021 29,066 21,065 25,02l+ 15,101 55,581 Total U.S.Govt, securities 1,837.27s 93,112 730,37*+ 137,1^1 176,5^ l+8,li+9 1+8,635 256,551 65.832 5M6l 57,220 1+3,91+0 12l+,923 Other securities 5,61+1 — i+,982 525 — —— 27 «... 107 — Total bills and securities 2,387,173 139,928 81+9,766 139,095 259,191+- 70,360 78,770 311,3^0 75, ^2 70,157 75.868 52,022 215,231 Due from foreign banks 3,656 280 1,3^7 1+03 362 ll+2 123 1+99 16 11 106 106 256 F.R.notes of other banks 19,^71 331 5,807 512 1,291 1,325 927 i+,ooi+ l,7'23 792 1,37*+ 33* 1,051 Uncollected items 337,157 39,699 38,860 25,^37 30,291+ 30,01+3 9,092 1+1,91+7 8,723 20,927 11,359 16,023 Bank premises 5^,250 3,280 12,818 3,337 6,929 3,237 2,1+22 7,6oi 3,285 1,71+6 3,559 1,792 1+.214+ All other resources ^,673 808 21.1+18 3,807 1,963 3.187 5.21+1 1,317 972 1.857 l.l-i+o 1,1+58 1,505 TOTAL RESOURCES 6,597,883 1+1+9,092 1,993,811 ^65,3^6 531,326 299,799 219,1+91 l,33^,llW 261,512 161,588 236,125 121,995 ^73,658 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BAKES ON MAY 3, 1933 (In thousands of dollars) B-SOlc L I A B I L I T I ES To tal Boston Hew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy., Dallas San Fran. F.B.notes in actual circulation 3,395,369 227,088 732,740 250,1U2 334,375 171,339 135,758 887,539 148,154 95,167 118,543 39,329 249,195 F.K.bank notes in actual circulation 56,059 8,066 28,244 5,133 3,173 — 277 10,434 39 303 132 258 Deposits: Member bank - reserve account 2,033,939 125,830 910,709 111199,,00UU22 113322,,222200 6666,,110055 11++11,,991199 226600,,447744 6666,,336688 38,907 7766,,444444 5522,,999999 114422,,992222 Government l44,4o6 8,122 42,887 9,457 13,853 2,557 2,1+52 37,923 2,698 2,237 2,248 1,862 17,910 Foreign 27f272 1,980 9,210 2,G4G 2,685 1,05s 949 3,526 922 624 786 786 1,898 Special deposits: member bank 80,512 2,989 5,836 6,-733 13,117 6,182 6,248 25,933 2,932 1,253 5,015 305 3,969 nonmember bank 17,461 1,708 1,591 80S 1,1+69 388 5,164 3,351 2,286 188 508 Other deposits 56,511 A,505 18,553 246 6.272 3,795 3,713 3.953 5.538 974 239 409 8.314 Total deposits 2,360,101 143,426 988,903 139,917 168,955 81,166 55,669 336,973 82,009 46,281 84,920 56,361 175.521 Deferred availability items 331,621 38,565 86,562 24,157 29,874 28,657 9,706 40,790 15,763 8,907 19,407 12,575 16,658 Capital paid in 150,187 10,737 58,491 15,800 13,892 5,368 4,627 15,576 4,iss 2,835 4,247 3,777 10,649 Surplus 278,599 20,1+60 85,058 29,21+2 28,291+ 11,616 10,544 39,497 10,186 7,019 8,263 8,719 19,701 All other liabilities 25,9^7 750 7,813 955 2,763 1,653 2,910 3.331 1.173 1.076 613 976 1.934 TOTAL LIABILITIES 6,597,883 449,092 1,993,211 465,346 581,326 299,799 219,491 l,334,l4o 261,512 161,588 236,125 121,995 473,658 Reserve ratio (per cent) 63-5 69.8 57.4 61.0 5I+.6 74.0 60.6 77.4 69.2 54.0 63.9 52.6 53.0 Contingent liability on bills purchased for foreign correspondents 4422,,118899 33,,11^^33 13,511 4,521 4,263 1,679 1,507 5,59s 1,464 991 1,249 11,,224499 33,,001144 MATURITY DISTRIBUTION OP BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 60 days 6l to 90 days Over 6 months 6 months Bills discounted 400,102 255,564 27,^58 1+7,382 62,530 6,793 375 Bills bought in open market 144,152 73,716 60,1+00 4,252 5,734 50 Certificates and bills 826,730 52,4oo 86,600 164,360 56,000 297,392 169,978 Municipal warrants 5,641 5, Hoi 51 152 10 27 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 3. 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.Agent 3,671,321 21*2,1+92 827,520 265,1*50 350,010 180,280 153,239 91*1,269 160,569 98,066 127,559 1*1,71** 283,153 Held by Federal reserve "bank 275*952 15,4o4 88,750 15,308 15,635 8,91*1 17,1*81 53,730 12,1*15 2,899 9,016 2,385 33,958 In actual circulation 3,395,369 227,088 738,71*0 250,11*2 334,375 171,339 135,75s 887,539 142,154 95,167 118,543 39,329 249,195 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 1,323.269 63,927 393,1*1*6 9!*,050 86,1*70 1*5,630 19,365 l*2l*,117 1*1,250 27,1*86 20,1*90 18,53S 83,500 Gold fund - F. R. Board 1 , 3 ^ 35 124,017 21*0,100 81,950 115,500 100,505 66,000 391,000 81,700 26,500 6i,soo 2,000 50,763 Eligible paper 371.7^9 33,302 82,281 25,321* 53,97*4 15,733 23,190 1*9,711 8,036 12,701 11,U09 7,521* 1*8*561* U.S. Gov»t. securities 659,^0 17,500 112,000 65,000 100,000 19,000 1*5,000 80.000 30,000 31.900 35.000 ii*,ooo 110,000 Total collateral 3,696,253 21*3,71*6 827,827 266,321+ 355,91*1* iso,s6s 153,555 944,828 l6o,9S6 98,537 128,699 1*2,062 292,827 FEDERAL RESERVE BAM NOTE STATEMENT ON MAY 3, 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( Out standing) 77,871* 11,320 35,791* 5,840 6,020 — 7U0 14,700 l60 500 1,000 1,800 — Held by Federal reserve bank 21,815 3,25** 7,550 707 2,81*7 — 1*63 4,266 121 197 868 1,51*2 — In actual circulation 56,059 8,066 28,244 5,133 3,173 - 277 10,434 39 303 132 258 Collateral pledged against outstanding notes: Discounted and purchased bills 1*2,063 12,590 27,770 — 1,295 303 105 — U, S. Gov't, securities 73,794 35,794 8,000 20,000 5,000 2,000 1,000 2,000 — Total collateral 115,857 12,590 35,794 8,000 27,770 - 1,295 20,000 5,303 2,000 1,000 2,105 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis