H.4.1 Factors Affecting Reserve Balances of Depository Institutions

statement TOR the press Released for publication B-S01 Friday morning, June 2; Federal Reserve Board not earlier. June 1, 1933 CONDITION OF FEDERAL RES3R1EE BAKES The daily average volume of Federal reserve "bank credit outstanding during the week ending May 31, as reported by the Federal reserve banks, was $2,208,000,000, a decrease of $35»000,000 compared with the preceding week and an increase of $127,000,000, compared with the corresponding week in 1932* On May 31 total reserve bank credit amounted to $2,218,000,000, practically unchanged from a week ago* Decreases of $27,000*000 in member bank reserve balances and $6,000,000 in unexpended capital,funds, nonmember deposits, ete*,were offset by an increase of $17,000,000 in money in circulation and a decrease of $15,000,000 iii Treasury currency, adjusted* Bills discounted decreased $7,000,000 at the Federal Reserve Bank of Cleveland* $3,000,000 at San Francisco and $10,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $23,000,000 and of Treasury certificates and bills $9,000,000, while holdings of United States bonds increased $10,000,000 and of United States Treasury notes $27»000,000 # Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending May 31, 19331 as follows: Increase or decrease siace May 31 May 2b June 1 1933 1933 1932 (In millions of dollars) Bills discounted 302 - 10 - 193 Bills bought 20 - 23 - 15 U« S, Government securities 1,890 + 28 + 315 Other reserve bank credit 7 + H 10 TOTAL RESERVE BAM CREDIT 2,218 ~ 1 + 96 Monetary gold stock ^315 + 1 + 208 Treas-ury currency adjusted - 15 + 13? Money in circulation + 17 + 3^5 Member bank reserve balances 2,167 -27 + 42 Unexpended capital funds,nonmember deposits,etc* 508 -6 + 5*4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Eeleased for publication Friday morning, June 2,1933? not earlier. B-SOla RESOURCES MD LIABILITIES OF THE TWELVE FEDESAL RESERVE BAMS COMBINED (In thousands of dollars) May 31,1931 May 24,1933 June 1,1932 RESOURCES Sold with Federal reserve agents • . . . . 2,813,639 2,832,714 2,038,319 Gold redemption fund with TJ.S.Treasury . . 46,338 41,729 Gold held exclusively against F.R.notes 2,857,992 2,879,052 2,080,048 Gold settlement fund with F.R. Board . . . 1109,831+ 359,464 300,348 Gold and gold certificates held by banks * 252,072 260,718 370,671 Total gold reserves . . . . . .. 3,499,234 2,751,067 3,519,29s Other cash* . . . . 308,706 270,589 286,770 Total gold reserves and other cash 3,806,668 3,807,940 3,021,656 Redemption fund - F. H. bank notes . . 6,242 6,242 Bills discounted: Sec f by U.S.Government obligations 65,939 64,472 204,770 Other bills discounted . . . . . .. 247,693 289,831 Total bills discotmted 301,974 312,165 l<94,60l Bills bought in open market 19,862 42,662 35,>+79 U.S.Government securities: Bonds . . 441,071 430,606 396,794 Treasury notes 656,593 629,583 171,622 Certificates and bills • . 801,523 1,006,784 791.914 Total U.S. Government securities 1,861,712 1,575,200 1,289,578 Other securities 4,823 Total bills and securities 2,216,237 2,221,925 2,110,424 Dae from foreign banks 3,815 3,593 3,643 F. R. notes of other banks . . . , 17,921 12,102 15,143 Uncollected items . . . . . . .. 316,172 403,247 316,0^7 Bank premises 54,255 54,255 58,084 All other resources . . 47,146 40,903 48,020 TOTAL RESOURCES 6,475,194 5,650,059 6,466,427 L I A B I L I T I ES F.fi. notes in actual circulation . . .. 3,203,102 3,221,429 2,564,399 F.R.bank notes in actual circulation . . 96,280 84.211 — Deposits: Member bank - reserve account 2,166,721 2,194,390 2,124,685 Government . . . . . . . . . . . .. . 72,328 37,668 12,985 Foreign bank . . .. 7,848 15,867 74,035 Special deposits - member bank . . .. •83,637 81,904 — nonmember bank . . 18,059 17,641 Other deposits . . 45,180 . 45,347 31,376 Total deposits • • • • •• 2,392,817 2,243,081 2,393,773 Deferred availability items . • . # .. 318,082 322,322 394,972 Capital paid i n .. 150,271 150,287 154,801 Surplus • • • • . . • • • . . . « • . •« 278,599 273,599 259,421 All other liabilities 26^20 25,529 33,385 TOTAL LIABILITIES 6,466,427 6,475,194 5.650,059 Ratio of total gold reserves and other cash"* to deposit and F.R.note liabilities combined 68.0$ 67.8$ 62.9^ Contingent liability on bills purchased for foreign correspondents 36,770 179,564 35,731 * "Other cash" does not include I", 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 illD LIABILITIES OF THE FEDERAL RESERVE BABES Oil MAY 31, 1933 RESOURCES (In thousands of dollars) B-SOIb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C&r. Dallas San Fran. Gold with Federal reserve agents 2,813,539 216,219 719,5^6 172,000 210,770 134,665 93,550 797,587 126,000 59,046 88,290 20,703 175,263 Gold redemption fund with U.S.Treas. 44,353 5,055 3,013 M92 7,019 1,246 3,059 5,027 1,3^2 2,089 2,798 1,295 7,918 Gold held exclusively against F. R. notes 2,857,992 221,274 722,559 176,492 217,789 135,911 96,609 802,6l4 127,3^2 61,135 91,088 21,998 183,181 Gold settlement fund with F.R.Board 409,834 31,527 147,596 11,432 32,523 10,257 15,997 75,900 17,270 13,952 16,798 9,189 27,393 Gold and gold certif. held by banks 252,072 22,431 151,693 13,^92 ^,753 4,508 3,520 7,380 1,494 1,327 13,026 6,065 22,383 Total gold reserves 3,519,898 275.232 ]1 ,021,848 201,416 255,065 150,676 116,126 885,894 146,106 76,414 120,912 37,252 232,957 Other cash* 286,770 20,890 82,184 24,869 23,713 15,822 15,358 4i,2i4 13,458 ^,772 10,956 9,697 23,837 Total gold reserves & other cashJ , 806,668 296,122 ]L , 104,032 226,285 278,778 166,498 131,484 927,108 159,564 81,186 131,86s 46,949 256,79^ Redemption fund - F.R. bank notes 6,242 1,000 2,500 292 250 — 150 l t R00 100 100 50 100 200 Bills discounted; Secured by "U.3 0 Govt. obligations 65,989 6,103 28,195 8,457 8,562 2,478 1,243 3,505 2,442 257 1,662 591 22,,449944 Other bills discounted 235,985 10,049 4\135 35,597 46,463 15,882 17,004 11,672 2,513 6,815 10,884 4,57^ 3^,397 Total bills discounted 301,97^ 16,152 6s,330 44,054 55,025 18,360 18,247 15,177 >+,955 7.072 12,546 5,165 36,891 Bills bought in open market 19,862 3.11H 7,186 1,273 761 429 705 2,127 375 288 353 445 2,806 U.S.Government securities: Bonds 441,071 20,132 186,240 30,585 35,851 10,218 10,193 61,545 14,064 17,166 12,160 1177,,226688 25,649 Treasury notes 656,593 •36,400 252,747 51,039 67,190 19,150 19,094 77,866 25,422 18,061 21,911 13,624 48,089 Certificates and bills 791,91^ 41,53^ 295,199 58,239 76,669 21,851 21,779 131,590 29,011 20,607 25,004 15,5^8 54,883 Total U.S.Govt, securities 1,889,578 98,066 7*10,186 139,863 179,710 51,219 51,066 271,001 68,497 55,834 59,075 46,440 128,621 Other securities 4,823 — 4,l4l 525 — — — 50 — 107 — — — Total bills and securities 2,216,237 117,332 819,843 185,715 235,^96 70,008 70,01s 288,355 73,827 63,301 71,97** 52,050 168,31s Due from foreign banks 3,815 281 1,504 403 362 1^3 128 499 16 11 .106 106 256 F.R.notes of other banks 15,143 329 ^,528 271 1,153 1,389 873 2,7^8 588 338 1.25s PI Uncollected items 316,047 37,712 90,160 23,025 28,411 26,725 9,584 38,356 12,1% 9,066 16,626 10,116 1^,117 Bank premises 5^,255 3,280 12,818 3,337 6,929 3,238 2,422 7,605 3,285 1,7^6 3,559 1,792 4,244 All other resources 48,020 749 24,831 3,786 1,842 2,953 5,586 1,984 732 1,742 986 1,468 1,361 TOTAL RESOURCES 6,1*66,427 456,805 2,060,216 443,114 553,221 270,954 220,245 1,268,155 250,4o4 157,740 226,106 112,919 446,548 * "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 017 MAY 31, 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 3,203,102 221,624 6s4,951 245,101 320,384 146,632 127,629 833,956 145,325 91,497 114,318 36,630 234,995 F.R.bank: notes in actual circulation 96,280 13,463 ^7.595 5.607 3,152 — 1,888 20,954 91 661 797 625 1,447 Deposits: Member bank - reserve account 2,166,721 142,196 1,026,467 113,229 132,526 62,69s 46,732 272,l4l 62,118 40,859 74,314 4s,4s6 144,955 Government 72,328 1,034 41,115 476 3,288 4,153 10,761 3,51S 1,607 1,814 1,189 588 2,785 Foreign bank 7,84s 542 2,905 779 735 289 260 965 252 171 215 215 520 Special deposits* member bank 83,637 3»l67 5,668 6,761 13,557 6,481 2,638 30,273 3,483 1,134 4,354 262 5,559 nocmembar bank 18,059 — 1,433 1,612 790 l,6ll 257 5,618 4,357 1,591 144 — 646 Other deposits 45,180 5,367 9,930 197 3,975 4,099 3,514 3,133 4,122 950 310 855 8,728 Total deposits 2,393,773 152,306 1,087,518 123,054 155,171 79,331 64,162 315,648 75,939 46,519 80,526 50,406 163,193 Deferred availability items 318,082 37,432 88,294 23,261 29,385 26,709 8,303 39,195 13,617 8,172 17,277 11,764 14,673 Capital paid in 150,271 10,759 52,527 15,800 13,906 5,423 4,77s 15,539 4,032 2,821 4,24s 3,885 10,553 Surplus 278,599 20,460 85,058 29,242 28,294 ll,6l6 10,544 39,%7 10,186 7,019 8,263 8,719 19,701 All other liabilities 26,320 761 8,273 1,049 2,929 1,243 2,94l 3,366 1,154 1,051 677 890 l*i?3£ TOTAL LIABILITIES 6,466,427 456,805 2,060,216 443,114 553,221 270,954 220,245 1,268,155 250,404 157,740 226,106 112,919 446,54s Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 68.0 79.2 62.3 61.5 58.6 73.7 68.6 80.6 72.1 58.8 67.7 53.9 64.5 Contingent liability on bills purchased for foreign correspondents 35,731 2,684 11,247 3,860 3,639 1,434 1,2S7 4,779 1,250 846 1,066 1,066 2,573 MATURITY DISTRIBUTION OF BILLS AND 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 301,974 192,071 24,148 41,687 36,416 7,464 188 Bills bought in open market 19,862 12,479 5,239 842 1,302 Certificates and bills 791,914 127,625 37,500 81,208 111,646 243,226 190,629 Municipal warrants 4,823 4,73S 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 31, 1933 (In thousands of dollars) B-SOld Total Boston New York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal roservo notes Issued to F.R.bank by F.R.Agent 3,436,872 234,527 760,250 259,125 333.529 152,696 147,107 861,077 155,270 9^,163 123,195 3S,965 276,90s Held by Federal reserve bank 233,770 12,903 75,299 i4,os4 13,145 6,o64 19,^73 27,121 9,SS5 2,666 8,877 2,335 ^1,913 In actual circulation 3,203,102 221,624 684,951 245,101 320,38K 146,632 127,629 833,956 145,3^5 91,497 114,318 36,630 234,995 Collateral held by agent as security for notes issued to bank* Gold and gold certificates 1,466,704 70,202 473,446 97,450 107,270 149,160 22,550 435,587 42,300 29,046 21,490 IS,703 99,500 Gold fund - F. R. Board 1,3^6,935 146,017 246,100 74,550 103,500 85,505 71,000 362,000 83,700 30,000 66,800 2,000 75,763 Eligible paper 190,397 IS,390 >49,285 £1,238 32,003 11,272 12,484 11,361 3,928 5,100 6,145 5,148 13,443 U.S. Govt', securities 480,900 — 68,000 100,000 12,0JO 44,000 $1,000 26.000 30,90c 32.000 15,000 92.000 Total collateral 3,484,936 234,609 769,431 261,238 342,773 157,937 150,034 869,94s 155,928 95,046 126,435 40,851 280,706 FEDERAL RESERVE BANK NOTE STATEMENT ON MAY 31, 1933 (In thousands of dollars) Total Boston Nefr York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve bank notes: Issued to F.R.3ank(Outstaading) 1233,,1133^4 1155,,668800 62,274 6,280 4,840 2,740 24,220 160 74o 1,000 i,soo 3,400 Held by Federal reserve bank 26,854 2,217 14,679 673 1,628 852 3,266 69 79 203 1,175 1,953 In actual circulation 96,280 13,463 ^7,595 5,607 3,152 l f So8 20,95^ 91 661 797 625 1,447 Collateral pledged against outstanding notes: Discounted and purchased bills 26,039 22,910 2,69s 331 100 U.S.Govt, securities 136,274 20,000 62,274 8,000 1,000 30,000 5,000 2,000 1,000 2,000 5,000 Total collateral 162,313 20,000 62,274 8,000 22,910 3,69s 30,000 5,331 2,000 1,000 2,100 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis