H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, May 26; Federal Reserve Board not earlier May 25» 1933* # CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve tank credit outstanding during the week ending May 2U, as reported "by the Federal reserve "banks,, was $ 2 , 3 ^ 3 » tt a decrease of $^3,000,000 compared with the preceding week and an increase of $233,000,000 compared with the corresponding week of 1932* On May sN- total reseryef canfec redit punted to $2,219,000,POO, a decrease of $35,000,000 for the week This decrease corresponds with decreases of $57,000,000 # in money in circulation and $15,000,000 in unexpended capital funds, nonmember deposits, etc*.* and an increase of $U0,000,000 in Treasury currency, adjusted, offset in part by an increase of $80,000,000 in member hank reserve balances* Bills discounted decreased $8,000,000 at the Federal Reserve Bank of New York, $5,000,000 at Cleveland and $18,000,000 at all Federal reserve hanks. The System's holdings of "bills bought in open market declined $35,000,000 and of Treasmy certificates and hills $20,000,000, while holdings of United States bonds increased $10,000,000 atfd of United States Treasury notes $35,000,000. Changes in the amount of reserve bank credit outstanding and in related items YI0re as during the week and the year ending May 2*+, 19331 follows: Increase or decrease since May 2U May 17 May 25 JLSEL 1933 1932 (In millions of dollars) Bills discounted 312 - IS 159 Bills bought 35 + 5 U. S« Government securities 1,862 + 25 + 337 Other reserve bank credit 3 - 6 - 10 TOTAL RESERVE BMK CREDIT 2,219 _ 35 + 171 Monetary gold stock J+.31U 1 + 107 Treasury currency adjusted 1,969 + Ho + 179 Money in circulation 5»795 — 57 + 38.5 Member tank: reserve balances 2,19^ + so 20 - Unexpended capital fmidSjnon!nen&«r deposits,©tc«. 51^ .15 + 9H — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

not B-SOla Released for publication Friday morning, May 26,1933? earlier, RESOURCES AKD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) May 2*1,1933 May 17,1933 May 25,1932 R E S O U R C ES Gold with Federal reserve agents . . . 2,832,714 2,731,939 2,113,407 Gold redemption fund with U.S.Treasury 46,338 54,824 40,368 GoId/exclusively against F.R.notes , 2,879,052 2,786,763 2,153,775. Gold settlement fund vtith F. R. Board 359.U64 346,260 362,593 Gold and gold certificates held "by bank 260,718 334,485 340,713 Total gold reserves 3,467,508 2,857,081 3 MS f 23b Other cash* 308,706 303,983 283,267 Total gold reserves and oth'er cash 3,807,940 3,771,491 3,l4o,348 Redemption fund - F. R. bank notes . . 6,242 4,992 — Bills discounted: Sec. by U.S.Government obligations . 64,472 73,379 190,168 Other bills discounted . . . . . .. 247,693 256,846 281,099 Total bills 4jt~£o\mtod . . . 330,225 471,267 312,165 Bills bought in open market 42,662 77,5^3 38,373 U.S. Government securities: Bonds . . . . .. 430,606 420,992 374,784 Treasury notes 629,583 594,482 166,372 Certificates and bills . 821,124 984,040 801,523 Total U.S. Government securities 1,836.59* 1,525,196 1,861,712 Other securities 5,404 5,220 5,386 Total bills and securities 2,221,925 2,249,770 2,040,056 Due from foreign banks . . 3,662 4,644 3,593 F. R. notes of other banks 17,921 19,095 14,624 Uncollected items 359,775 337,924 316,172 Bank premises , 54,251 58,084 54,255 All other resources . . . . 44,949 39,5^1 47,146 TOTAL RESOURCES 6,475,194 6.507,985 5,635,221 L I A B I L I T I ES F.R. notes in actual circulation . . .. 3,221,429 3,299,995 2,532,71^ F.R. bank notes in actual circulation . . 84,211 74,218 — Deposits: Member bank - reserve account . . . .. 2,194,390 22,,111144,,228833 22,,221144,,338844 Government 37,668 31,260 36,366 Foreign bank 15,867 22,943 40,706 Special deposits - member bank . . .. 81,904 87,467 — nonmember bank . . 17,641 17,642 — Other deposits .. 45,3^7 46,859 29,319 Total deposits . . . . .. 2,392,817 2,320,454 2,320,775 Deferred availability items 322,322 359,558 334,481 Capital paid in 150,287 150,217 154,749 Surplus 278,599 278,599 259,421 All other liabilities . . .. 25,529 24,944 33,081 TOTAL LIABILITIES . . . 6,475,194 6,507,985 5,635,221, Ratio of total gold reserves and other cash* to deposit and F,R.note liabilities combined 67.8$ 67.1$ 64.7$ Contingent liability on bills purchased for foreign correspondents . . . .. 36,770 38,886 216,402 * "Other cash" does not include F. R. notes or a bank's own F. R. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BANKS OH MAY 24, 1933 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,832,714 211,219 727,5^6 172,000 205,370 140,665 93.550 812,587 129,000 53,021 88,290 23,203 171,263 Gold redemption fund with U.S.Treas. 46,338 5,129 3.646 4,578 7,123 l,46l 3,248 5,167 1,356 2,113 2,923 1,313 8.281 Gold held exclusively against F. R. notes 2,879.052 216,348 731,192 176,578 212,493 142,126 96,79S 817,75*+ 130,356 60,134 91,213 24,516 179,544 Gold settlement fund with F.R.Board 359,464 16,950 147,576 11,687 28,844 8,446 16,739 56,692 15,674 10,398 16,924 8,668 20,866 Gold and gold certif. held "by "banks 260,718 22,183 151,411 13,449 9,898 4,466 3,513 7,284 1,809 1.29s 12,984 6,058 26,36*5 Total gold reserves 3,499,234 255,481 1,030,179 201,714 251,235 155,038 117,050 881,730 147,839 71,830 121,121 39,242 226,775 Other cash* 308,706 22,866 92,029 25,95^ 24,373 17,101 15,074 44,705 14,183 4,796 11,280 10,776 25,569 Total gold reserves & other cash 3,807,940 278.347 1,122,208 227,66s 275,60s 172,139 132,124 926,435 162,022 76,626 132,401 50,018 252,344 Redemption fund - F.R. bank notes 6,242 1,000 2,500 292 250 150 1,500 100 100 50 100 200 — Bills discounted: Secured by U.S.Govt, obligations 64,472 5,106 29,117 9,065 10,161 2,299 1,251 3,92s 816 254 1,132 762 541 Other bills discounted 247,693 10,232 40,635 36,163 51,378 15,685 16,647 11.664 2,034 7,188 11,328 5,039 39.700 Total bills discounted 312,165 15,33S 69,752 45,228 61,539 17, I7,93S 15,592 2,850 7,442 12,460 5,801 40,241 Bills bought in open market 42,662 12,066 6,922 1,434 1,624 687 1,207 6,974 1,012 1,567 356 498 8,315 U.S.Government securities: Bonds 430,606 19,232 187,763 30,862 36,369 10,020 10,176 49,406 13,983 17,409 12,064 16,885 25,837 Treasury notes 629.5S3 3^.307 251,569 65,241 17,975 18,194 71,581 24,182 17,528 20,96s 12,350 46,345 Certificates and bills 801,523 40,847 298,104 58,748 77.680 21,404 21.663 138.564 28.792 20.874 24.961 14.70*5 •55.179 Total U.S.Govt, securities 1,861,712 94,98b 737,436 138,953 179,290 49,399 50,033 259,551 66,957 55,811 57,995 43,940 127,361 Other securities 5,386 — 4,704 . 525 — — rnmtm 50 — 107 — — — Total bills and securities 2,221,925 122,390 818,814 186,i4o 242,453 68,070 69,17S 282,167 70,819 64,927 70,811 50,239 175,917 Dae from foreign banks 3,593 281 1,282 403 362 1^3 128 499 16 11 106 106 256 F.R.notes of other banks 17,921 310 5,176 356 1,094 1,575 1,310 2,660 1,559 778 1,326 309 1,468 Uncollected items 316,172 37,859 84,469 26,739 28,980 27,365 9,018 38,127 13,24$ 8,233 16,861 10,384 14,392 Batik premises 54,255 3,280 12,818 3,337 6,929 3,232 2,422 7,605 3,285 1,746 3,559 1,792 4,244 All other resources 47,146 753 23,883 3,796 1,356 2,920 5,951 1,648 736 1,77^ 983 1,463 1»?S3 TOTAL RESOURCES 6,475,194 444,220 2,071,150 448,731 557,532 275,^50 220,281 l,26o,64l 251,782 154,195 226,097 114,911 450,204 * "Other cash" does not include F. R. notes or a bank's own F. R. "bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH MAY 24, 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 3,221,429 220,090 688,729 244,153 322,500 147,784 130,017 842,559 145,396 92,119 114,749 37,133 236,200 F,R,bank notes in actual circulation 84,211 13.232 40,153 5,534 3,015 — 1,374 19,045 39 577 726 516 — Deposits: Member 'bank - reserve account 2,194,390 127,508 1,082,430 115,231 131,088 64,949 53,385 249,938 62,312 36,777 73,625 49,503 147,644 Government 37,668 3.851 3,147 1,696 4,134 4,179 1,907 9,622 1,592 1,144 1,484 1,284 3,628 Foreign 'bank: 15*867 1,167 5,224 1,67s 1,582 623 559 2,078 543 368 1+63 463 1,119 Special deposits; meniber "bank 81,90*+ 3,232 5,810 6,883 13,485 5,951 2,515 29,519 3,380 1,064 4,495 283 5,287 nonnember bank; 17,641 — 1,471 1,576 852 1,651 M3 5.459 3,658 1,821 124 — 616 Other deposits 45,347 5,005 9,937 261 5,91s 4,094 3,^32 3,788 4,183 392 217 6,925 Total deposits 2,392,817 1^,763 1,108,019 127,325 157,059 81,Ul+7 62,211 300,1+04 75,668 42,369 80,583 51,750 165,219 Deferred availability items 322,322 38,133 83,299 25,598 29,857 27,81+9 8,417 1+0,240 15,323 8,246 16,354 12,036 16,470 Capital paid in 150,287 10,759 58,532 15,800 13,906 5,1+50 4,776 15,532 4,026 2,820 4,249 3,884 10,553 Surplus 278,599 20,460 85,058 29,2^2 28,291+ 11,616 10,5!+!+ 39,497 10,186 7,019 8,263 8,719 19,701 All other liabilities .25,529 783 7,360 1,079 2,901 1,301+ 2,91+2 3,364 1,144 1,045 673 873 2,061 TOTAL LIABILITIES 6,475,194 444,220 2,071,150 41+8,731 557,532 275,450 220,281 l,26o,64i 251,782 154,195 226,097 114,911 450,204 Ratio of total gold reserves and other cash* to deposit and F.R, note liabilities combined 67.8 77.1 62.5 61.3 57.5 75.1 68.7 81.1 73.3 57.0 67.8 56.3 62.9 Contingent liability om bills purchased for foreign correspondents 36,770 2,684 12,286 3,860 3,639 1,434 1,287 4,779 1,250 846 1,066 1,066 2,573 MATURITY" DISTRIBUTION OF BILLS AMD SHORT TEEM 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 195,699 22,195 26,813 61,4ll 5,889 158 Bills bought in open market 33,563 3,677 3,870 1,552 Certificates and bills 801,523 71,450 97,775 62,638 141,796 238,226 189,638 Municipal warrants 5,386 5,174 127 25 10 50 * "Other cash" does not include F, R. notes or a bank's own F. R. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 2U, 1933 (In thousands of dollars) B-801d Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran, Federal reserves notes: Issued to F.R.barik "by F.R.Agent 3,1*71, ^71 233,169 770,529 260,871 33^,319 156,098 11*9,539 87U.019 156,076 95,263 123,721 Ho,i*6i 277,^6 81,800 10.680 In actual circulation 3,221,1+29 220 090 688,729 2144,153 322,500 11*7,78** 130,017 81*2,559 11*5,396 92,119 11U.7H9 37,133 236,200 f Collateral held by agent as security for notes issued to bank: Gold and gold certificates 11^^77**227799 70,202 1*73,^ 97,1*50 101,870 160 22,550 *+35,5S7 1*2,300 29,021 21,1*90 IS,703 95,500 Gold fund - F. B. Board lt375.^35 141,017 25^,100 7^,550 103,500 91,505 71,000 377,000 86,700 29,000 66,800 i*,500 75,763 Eligible paper 217,760 26,526 50,93s 22,126 38,688 11,^3 12,950 16,851 2,520 6,71*8 6,182 5,671* 17,061* U.S. Gov't* securities 1*71,900 68,000 100.000 6,000 1*1*. 000 61,000 26,000 30.900 32,000 12,000 92.000 —— Total collateral 3,522,37^ 237,7^ 77S,1*S1* 262,126 31*4,058 153,15s 150,500 890,^33 157,520 95,669 126,1*72 1*0,877 280,327 FEDERAL RESERVE BANK NOTE STATEMENT ON MAY 2**, 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: l Issued to F.B.Bank(Outstanding) 116,95^ 17,2SO 5l*,l*9l* 6,280 5,2^0 — 2,7^ 23,900 160 660 1,000 1,800 3,*00 Held by Federal reserve bank 32,7^3 U,oUs 1^,31+1 7k6 2,225 1,366 H,S55 121 S3 27l* 1,281* 3,1*00 — In actual circulation 211 13,332 1+0,153 5,53*+ 3,015 — 1,37^ 19,01*5 39 577 726 516 — Collateral pledged against outstanding notes: Discounted and purchased bills ^^66,,555566 20,000 — 23,603 — 2,595 25S «... __ 100 — U.S. Govt, securities lOS,^ -- 5l*,l*9l* 8,000 — — 1,000 30,000 5,000 2,000 1,000 2,000 5,000 Total collateral 155t050 20,000 5M91* 8,000 23,603 3,595 30,000 5,25s 2,000 1,000 2,100 5,000 mm— Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis