H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PHESS Released for publication B-S01 Friday morning, May 12; Federal Reserve Board not earlier. May 11, 1933 OOHDI'TIOH OF FEDERAL RESERVE BARKS The daily average volume* of Federal reserve "bank credit outstanding during the week ending May 10, as reported "by the Federal reserve banks was $2,3^8,000,000, a decrease of $83,000,000 compared with the preceding week and an increase of $^53,000,000 compared with the corresponding weak in 1932. On May 10 total reserve bank credit amounted to $2,297000,000, a decrease of $99#000,000 for the week. This decrease corresponds with decreases of $62,000,000 in money in circulation and $5,000,000 in unexpended capital funds, nonmember deposits, etc*, and an increase of $87,000,000 in Treasury currency, adjusted, offset in part by an increase of $55»000,000 in member bank reserve balances. Bills discounted decreased $35,000,000 at the Federal Reserve Bank of San Francisco, $12,000,000 at Hew York, $6,000,000 at Cleveland and $62,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market decline* $31,000,000, while holdings of United States Government securities show practically no change for the week. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending May 10, 1933» were as follows: XncTJ5*\*9. Q£ decrease since May 10 May 3- May 11 19?? -2221 1932 (in millions of dollars) Bills discounted 338 - 62 - 133 Bills 'bought 113 - 31 + 70 U. S. Government securities 1.S37 + ^52 Other reserve bank credit 9 - 10 TOTAL RESERVE BANK CREDIT 2,297 - 99 Monetary gold stock U,313 + 1 Treasury currency adjusted 1,905 + 87 Money in circulation - 62 + k6l Member "bank reserve balances + 55 - 55 Unexpended capital funds,nonmember deposits,etc + 105 - 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May '12,1933? not earlier. B-301a RESOURCES ASD LIABILITIES OF THE TWELVE FEDERAL RESERVE 3AMS COMBINED (in thousands of dollars) May 10,1933 May 3,1933 May 11, I932 R E S O U R C ES Gold with Federal reserve agents . . .. 2,706,759 2,665,104 2,219,609 Gold redemption fund with U.S.Treasury ' 57,633 62,500 3M38 Gold held exclusively against F.R.notes 2,7^,392 2,727,604 2,254,447 Gold settlement fund with F. R. Board . 3^1,26g 321,318 335,320 Gold and gold certificates held by banks 386,64s 366,650 336,^ Total gold reserves . .. . 3,442,134 3,^35,570 2,956,417 Reserves other than gold 218,764 ..S15...59U 207,733 Total reserves . . . 3,657,728 3,65^33^ 3,164,150 Hon-reserve cash 100,316 93,551 77,209 Redemption fund - F. R. bank notes . . . 4,51s 3,618 Bills discounted: Sec. by U.S.Government obligations , . 72,0S2 97,976 190,555 Other bills discounted . . . . .. 266,159 302,126 280,818 Total bills discounted . 33S,2kl 400,102 >+71,373 Bills bought in open market . . .. 112,607 144,152 ^2,719 U. S, Government securities: Bonds ^21,595 421,576 346,147 Treasury notes 588,922 5SS.972 •'-53,740 Certificates and bills . 826,676 826,730 885,380 Total U.S. Government securities 1,S37,193 1,837,27s 1,335,267 Other securities . . . .. 5,464 5,641 5,0^2 Total bills and securities . , 2,293,505 2.3S7.173 1,904,401 3,656 Dae from foreign banks 3,662 4,699 F. R. notes of other banks 17,637 19,^71 14,99^ Uncollected items 316,39s 337,157 354,536 Bank premises 54,250 54,250 58,082 All other resources . . .. 44,490 44,673 37,519 TOTAL RESOURCES . . .. 6,492,504 6,597,883 5,615,640 L I A B I L I T I ES F.R. notes in actual circulation . . .. 3,349,753 3,395,369 2,551,363 F.R, bank notes in actual circulation . 62,805 56,059 Deposits: : Member bank - reserve account . . .. 2,089,115 2,033,939 2,144,373 Government 42,467 144,406 51,075 Foreign bank 23,021 27,272 44,177 Special deposits - member bank . . .. 86,045 80,512 nonmember bank . . 18,354 17,461 Other deposits 50,539 56,511 33.350 Total deposits . . .. 2,309,541 2,360,101 2,272,975 Deferred availability items 316,346 331,621 344,SS4 Capital paid in 150,229 150,187 154,806 Surplus 278,599 278,599 259,^21 All other liabilities 25,231 25,947 32,191 TOTAL LIABILITIES . . .. 6,492,504 6,597,883 5,615,64o Ratio of total reserves to deposit and 65.6$ R. note liabilities combined . . . 64.6$ 63.5$ Contingent liability on bills purchased for foreign correspondents • • • • •• 4i,34o 42,189 270,741 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AM) LIABILITIES OF THE FEDERAL RESERVE BA1TKS OH MY 10, 1933 R E S O U R C ES (In thousands of dollars) B-801b Total Boston Hew York Phila. CleVe. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,706,759 200,219 638,546 171,000 201,970 l48,S60 88,700 814,337 124,645 53,726 85,290 23,203 156,263 Gold redemption fund with U.S.Treas. 57,633 5,390 9,898 796 J,66k 2,264 3,621 6,846 1,612 2,1+36 3,021 1,415 8,670 Gold held exclusively against F. R. notes 2,761+,392 205,609 648,444 175,796 209,634 151,124 92,321 821,183 126,257 5566,,116622 88,311 24,618 164,933 Gold settlement fund with F.R.Board . 31+1,268 16,391 84,534 13,371 18,072 22,107 7,984 69,912 21,996 15,322 18,998 10,008 *2,573 Gold and gold certif. held "by hanks 336,1+74 21,667 199,421 16,622 25,005 4,911 6,212 12,255 2,104 1,784 13 ,.955 5,95* 26,584 Total sold reserves 3,Ul+2,13l+ 21+3,667 932,399 205,739 252,711 178,142 106,517 903,350 150,357 73,268 121,264 40,530 234,090 Reserves other than gold 215,59* 15,987 68,432 21,373 18,314 n,i4s 7,772 30,493 3,469 3,187 7,871 6,994 15,55* Total reserves 3,657,728 259,651+ 1,000,831 227,162 271,025 189,290 li4,289 933,343 158,826 76,455 129,135 47,574 249,644 ITon-re serve cash 100,316 6,36s 29,519 4,015 5,351 4,253 7,456 16,53s 6,046 2,105 3,259 4,507 10,899 Redemption fund - F.R."bank notes 4,518 1,000 1,600 292 250 100 1,000 100 26 50 100 — — Bills discounted: Secured by U.S.Govt, obligations 72,082 4,822 31,921 9,096 14,712 1,113 2,262 33,,8899** 997 226600 11,,224455 901 359 Other bills discounted 266,159 9,996 47,02s 37,022 58,344 17,819 19,*37 12,079 2,266 G,OO4 12,1+57 5,239 36,413 Total bills discounted 338,241 14,818 73,949 46,llS 73,056 18,932 21,695 15.973 3,263 3,264 13,702 6,190 37,277 Bills bought in open market 112,607 24,399 17,985 2,911 3,215 1,264 6,721 27,127 4,255 5,*75 1,883 520 16,852 U. S. Government securities: Bonds 421,595 19,739 188,224 30,911 36,364 9,915 10,050 39,903 13,957 17,254 12,559 16,990 25,729 Treasury notes 588,922 32,261 232,514 *6,707 61,633 16,810 16,975 67,627 22,809 16,489 19,637 11,848 43,612 Certificates and bills 826,676 41,112 309,63b 59,523 78,5*3 21,424 21,633 149,021 29,066 21,010 25,024 15,102 55,582 •Total U.S.Govt, securities 1,837,193 93,112 730,37* 137,1*1 176,540' 43,149 48,658 256,551 65,832 5*.753 57,220 43,940 124,923 Other securities 5,464 — 4,782 525 — — — 50 — 107 — — Total bills and securities 2,293,505 132,329 332,090 186,695 252,811 68,345 77,078 299,701 73,350 68,599 72,805 50,650 179,052 Due from foreign banks 3,662 280 1,352 403 362 1*3 128 499 16 11 106 106 256 F.R.notes of other banks 17,637 221 5,367 426 1,368 933 931 2,606 1,506 627 1,713 272 1,667 Uncollected items 316,398 3*,319 88,675 22,046 28,819 28,559 8,783 37,801 13,955 8,471 17,925 10,913 16,127 Bank premises 5*,250 3,280 12,818 3,337 6,929 3,237 2,422 7,601 3,285 1,746 3,559 1,792 4,244 All other resources 44,490 796 21,745 3,805 1,957 3,160 5,102 1,294 874 1,829 1,088 1,367 l»*73 TOTAL RESOURCES 6,492,504 1+38,21+7 1,993,997 448,181 568,872 297,920 216,291+ 1,300,383 257,953 159,869 229,640 117,281 1+63,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A1TB LIABILITIES OF THE FEDERAL RESERVE BAMS OH MY 10, 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 Chi cago St.Louis Mi nn Kans.Cy. Dallas San Fran. # F.R.notes in actual circulation 3,3^9,753 224,588 725,744 248,273 331,501 170,342 133,254 873,090 147,5^3 9^,335 117,350 38,224 244,244 F.R.bank notes in actual circulation 62,805 9,67S 29,462 5.217 2,910 926 13,3H 39 4oi 44l 420 — — J-IWJJU ax OB: Member bank - reserve account 2,089,115 126,883 961,336 112,428 133,^06 63,9^1 42,582 271,376 64,622 39,891 73,863 49,347 149,44o Government 42,467 l,4o4 13,212 3,24s 4,617 3,590 1,261 4,651 1,671 1,245 1,000 1,216 5,352 Foreign bank 23,021 1,814 6,473 2,609 2,46o 969 869 3,230 845 571 721 721 1,739 Special deposits: member ban.1' 26,045 2,987 5,619 6,764 1^,490 6,481 6,902 29,160 3,261 1,177 5,260 299 4,645 nonmember bank is,35^ 1,517 1,655 945 1,730 375 5,592 3,628 2*138 184 590 — — Other deposits 50,539 4,s4o 13,656 308 6,0b4 M34 3,076 3,515 5,152 1,065 394 615 7,720 Total deposits 2,309,5^1 137,928 1,001,813 127,012 160,922 80,845 55,065 317,524 79,179 46,087 81,422 52,19S 169,486 Deferred availability items 316,346 34,102 86,325 21,529 2S,445 22,197 3,979 3S, 4oo 15,739 S,l4i 17,292 12,292 16,707 Capital paid in 150,229 10,767 58,497 15,800 13,892 5,452 4,605 15,577 4,o4l 2,824 4,247 3,SS5 10 ,'642 Surplus 278,599 20,460 85,05s 29,242 28,294 ll,6l6 10,544 39,^97 10,126 7,019 8,263 2,719 19,701 All other liabilities 25,231 724 7,09s 1,048 2,84c 1,46c 2,921 3,396 1,176 1,062 625 CC^ 1,932 TOTAL LIABILITIES 6,492,504 438,247 1,993,997 448,181 568,872 297,920 216,2941 ,300,383 257,953 159,869 229,640 117,281 463,362 Reserve ratio (per cent) 64.6 71.6 57.9 60.5 55.0 75.^ 60.7 78.4 70.1 54.4 65.0 52.2 60.3 Contingent liability on bills purchased for foreign correspondents 41,340 3,012 13,862 '4,332 4,085 1,609 1,444 55,,336644 11,,440033 994499 1,196 11,,119966 2,882 MATURITY DISTRIBUTION OF BILLS AHD 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 33S,2Ul 215,315 22,711 28,606 6^,701 6,55S 350 Bills bought in open market 112,607 75,017 22,705 3,819 5,016 50 Certificates and "bills 826,676 95,500 70,750 120,975 72,100 297,372 169,979 Municipal warrants 5,3+614- 5,201 51 152 10 50 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 170TE STATEMENT ON MAY 10, 1933 (in thousands of dollars) B-BOld Total Boston Hew 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 3,613,316 237,905 310,863 264,281 344,382 172,239 15^,370 915,301 158,976 93,360 127,149 41,054 231,936 Held "by Federal reserve bank 263,563 13,317 35,119 l6,00S 12,881 7,397 21,116 42,711 11,428 4,025 9,799 2,170 37,092 In actual circulation 3,349,753 224,538 725,744 248,273 331,501 170,342 133,254 373,090 147,54s 94,335 117.350 33,384 244,844 Collateral held "by agent as security for notes issued to "bank: Gold and gold certificates 1,379,924 70,202 423,446 94,050 86,470 43,355 21,700 430,337 41,945 23,726 20,490 18,703 95,500 Gold fund - P. R. Board 1,326,335 130,017 215,100 76,950 115,500 100,505 67,000 334,000 32,700 25,000 64,300 4,500 60,763 Eligible paper 292,311 22,400 66,756 23,622 48,825 13,289 21,312 37,708 6,096 11,310 3,648 6,213 26,627 U.S. Gov't, securities 633,400 17,500 106,000 70,000 100,000 13,000 45,000 CC v-,o 29,000 33,900 35,000 13,000 100,000 • J J J Total collateral 3,632,970 240,119 311,302 2.64,622 350,795 130,149 155,012 918,045 159,741 93,936 123,933 42,421 232,390 FEDERAL RESERVE BA1E NOTE STATEMENT O' IT MAY 10, 1933 (In thousands of dollars) To tal Boston ]I 'ew York Phila. Oleve. Rich. Atlanta Chicago St,Louis L'inn. Knns.Cy. Dallas S -- Fran. a Federal reserve baric notes: Issued to F.R.Bar.k(Outstanding) 93,274 14,320 43,374 6,lb0 6,020 i,i4o 18,300 160 500 1,000 1,300 Held by Federal reserve bank 30,439 4,642 14,412 913 3,110 214 4,939 121 '99 559 1,330 In actual circulation 62,835 9,673 29,462 5,247 2,910 926' 13,3H 39 4oi 44l 420 Collateral pledged against outstanding notes: Discounted and purchased bills 44,224 15,930 — -- 26,533 — 1,395 — 261 — — 105 U.S. Gov't, securities 31,374 — 43,374 3,000 -- — -- 20,000 5,000 2,000 1,000 2,000 Total collateral 126,098 15,930 43,374 3,000 26,533 — 1,395 20,000 5.261 2,000 1,000 2,105 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis