H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication B-SOl Friday morning June 9; Federal Reserve Board t riot earlier. June S, 1933, CONDITION OF FEDERAL RESERVE BAKES The daily average volume of Federal reserve bank credit outstanding during the week ending June 7, as reported "by the Federal reserve banks, was $2,2S>,000,000, an increase of $12,000,000 compared with the preceding uveek and a decrease of $276 ,000,000 compared with the corresponding week in 1932« On June 7 total reserve bank credit amounted to $2,21^,000,000, a decrease of ,000,000 for the week* This decrease corresponds with a decrease of $^5,000,000 in money in circulation and an increase of $35,000,000 in Treasury currency, adjusted, offset in part by increases of $37,000,000 in member bank reserve balances and $H0,000,000 in unexpended capital funds nonmember deposits, etc f # Bills discounted decreased $6,000,000 at the Federal Reserve Bank of Atlanta, 000,000 each at Hew York and San Francisco, and $25,000,000 at all Federal reserve banks The System*s holdings of bills bought in open market declined # $9,000,000, while holdings of United Statos Treasury notes increased $19,000,000 and of Treasury certificates and bills $3,000,000* Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending June 7» 1933t were as follows: Increase or decrease since June 7 May 31 June 8 1933 1933 1932 (In millions of dollars) Bills discounted 277 - 25 - 225 Bills bought 11 - 9 - 25 U. S* Government securities 1,912 22 + 267 Other reserve bank credit 15 + 8 1 TOTAL RESERVE BANK CREDIT 2 t 2lk - 1+ + 16 Monetary gold stock U.316 + 1 + 337 Treasiiry currency adjusted i,9S9 + 35 + 193 Money in circulation 5,707 - U5 + 315 Member bank reserve balances 2,20^ + 92 + F Unexpended capital funds,nonmember deposits, etc. 5H8 + W + 139 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 9,1933; not earlier. B-SOla H3S0UHCES AMD LIABILITIES OF THE TmVE FEDERAL BESERVE BAMS COMBINED (In thousands of dollars) June 7,1933 June g1932. t S 1 S 0 I I H C SS Gold with Federal reserve agents . • • . 2,787,074 2,813,639 1,9*+3,700 Gold redemption fund with U.S.Treasury # *+5,524 46,928 Gold held exclusively against F.R.notes 2,832,538 2,857,992 1,990,62s Gold settlement fund with F. R t Board # t 436,613 409,834 310,724 Gold and gold certificates held by hanks 252,77*+ 252,072 325,609 Total gold reserves . . . . • • 3,519,898 2,626,961 3,521,985 Other cash* * • 290,192 286,770 275,736 Total gold reserves and other cash * 3,812,177 3,806,668 2,902,697 Redemption fund - F. R. bank notes . • . 7,242 6,242 — Bills discounted: Sec. by U.S.Government obligations . . 55,335 **66,0l4 210,51s Other bills discounted . . . . . . .. 221,330 **235,96o 291,393 Total bills discounted . . . . . 276,665 301,97^ 501,911 Bills bought in open market . . . . .. 11,1+11 19,862 35,717 U.S.Government securities: Bonds . . . . . . . . . . . . . . .. 441,103 441,071 *+29,990- Treasury notes • • . • . 675,532 656,593 174.619 Certificates and bills . . . . . . .. 794,968 791,91*+ 1,039,958 Total U.S.Government securities . . 1.911.603 1,889,578 1,644,567 Other securities # . . . . . . . . . .. 5.029 4,823 5,778 Total bills and securities . • . 2,204,708 2,216,237 2,187,973 Due from foreign banks . . . . . . . .. 3,810 3,815 3,642 F. R. notes of other banks • 19,282 15.1U3 13,623 Uncollected items • • • • • • • . . . .• 33^,699 316,047 337,720 Bank premises • • • . . . . . • • . « .. 54,312 54,255 58,083 All other resources . . . . . . 49,300 48,020 42,908 TOTAL RESOURCES . . . 6,485,530 6,466,427 5,546,646 L I A B I L I T I ES F.R. notes in actual circulation . . 3,163,689 3,203,102 2,557,119 F.R. bank notes in actual circulation 104,ss4 96,280 — Deposits: Member bank - reserve account . . . 2,203,889 2,166,721 2,111,673 Government . . « * . . . » • » «. 32,173 72,328 36,596 Foreign bank . . . . . . .. 42,208 7,848 41,696 Special deposits - member bank . . , 90,942 83,637 — nonmemb er b ank « 18,671 18,059 — Other deposits . . . « • • » . . •« 44,732 45,180 20,237 Total deposits . . , 2,432,615 2,393,773 2,210,202 Deferred availability items . . . . , 328,902 318,082 330,996 Capital paid in . . . . . . 150,052 150,271 15^,779 Surplus . . 278,599 278,599 259,421 26,320 All other liabilities 26,789 3^,129 TOTAL LIABILITIES . . . 6,485,530 6,466,427 5,546,646 Ratio of total gold reserves and other cash* to deposit and F.R.note liabilities combined . . . . . . • • * • •• 63.1$ 68 .0% 60.9 i Contingent liability on bills purchased for foreign correspondents . . . . . 35t*+36 35t731 150,3^2 * "Other cash" does not include F. R. notes or a bank*s own F. R. bank notes. *#Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH JUNE 7. 1933 R E S O U R C ES (In thousands of dollars) B-80lb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,737,074 226,929 685,546 172,000 210,770 132,835 95.550 738,487 125,055 6o,l46 88,290 21,203 180,263 Gold redemption fund with U.S.Treas. 45,524 5.019 4,712 4,420 6,886 1,229 2,917 4,950 1,332 2,081 2,783 1,286 7,904 Gold held exclusively against F. R. notes 2S32,59S 231,948 690,258 176,420 217,656 134,064 9988,,446677 793,437 126,387 6622,,222277 91,078 22,489 188,167 f Gold settlement fund with F.R.Board 1+36,6l3 30,189 128,802 16,110 4l,861 16,270 14,130 93.179 18,602 15,315 19,615 13,007 29,533 Gold and gold certif. held by banks 252,774 21,936 153,483 13,5H 4,730 4,411 3,636 6,S64 1,339 1,364 12,949 6,088 22,463 Total gold reserves 3,521,935 28U,073 972,543 206,04l 264,247 154,745 116,233 893,480 146,328 78,906 123,642 41,584 2^,163 Other cash* 290,192 20,950 88,645 25.96S 24,216 15.536 14,826 39.253 13,033 4,256 10,853 9,768 22,883 Total gold reserves & other cash 3,812,177 305,023 l,06l,188 232,009 288,463 170,281 131,059 932,73S 159,361 83,162 134,495 51,352 263,046 Redemption fund - F.R. "bank notes 7,242 1,000 3,000 292 250 150 2,000 100 100 50 100 200 Bills discounted: Secured "by U.S.Govt, obligations 55.335 4,254 24,547 7,609 88,,774444 2,137 720 33,,337744 664455 258 1,452 582 1,013 Other "bills discounted 221,330 3,736 39,153 34,024 45,071 15,186 11,475 12,356 l,93S 6,235 10,640 4,128 32,330 Total bills discounted 276,665 12,990 63,705 41,633 53,315 17,323 12,198 15,730 2,533 6,493 12,092 4,710 33,393 Bills bo-aght in open market 11/411 809 3,577 1,027 691 393 351 1,303 334 267 317 372 1,970 U.S.Government securities: Bonds 441,103 20,420 135,410 30,375 35,482 10,334 10,243 6622,,776622 1144,,111199 1177,,007766 12,152 17,175 25,555 Treasury notes 675.532 3S,056 264,124 52,169 68,508 19,953 19,700 82,564 2o, 2S9 18,425 22,552 13,855 49,337 Certificates and bills 794,968 42,340 294,557 53,034 76.215 22,197 21.915 134,535 29,244 20,501 25,086 15,410 54,884 Total U.S.Govt, securities 1,911,603 100,816 744,091 140,573 180,205 52,484 51.353 279,911 69,652 56,002 59,790 46,1^40 129,776 Other securities 5,029 — 4,347 525 — — — 50 — 107 — — — Total bills and securities 2,204,708 114,615 815,720 183,763 234,711 70,200 64,407 296,994 72,569 62,869 72,199 51,522 165,139 Due from foreign banks 3,810 292 1,395 420 37s 149 133 519 21 14 111 ill 267 F.R. notes of other "banks 19,282 317 6,995 273 1,445 1,185 1.232 3,312 1,342 446 1,242 324 1,169 Uncollected items 334,699 36,762 84,858 27,716 31.275 29,823 10,745 42,783 14,865 9,308 13,373 13,3^ 14,842 Bank premises 54,312 3,280 12,818 3,39*+ 6,929 3,23S 2,422 7,605 3,285 1,746 3,559 1,792 All other resources 4q.ico 733 26,241 3.766 1.841 2,920 5,539 1,974 717 1,701 939 1,532 1,397 TOTAL RESOURCES 6,485,530 462,022 2,012,215 451,633 565,292 277.796 215,687 1,287,925 252,260 159,346 230,96s 120,082 450,304 * "Othcir 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 01 THE FEDERAL RESERVE BANKS Oil JUNE" 7* 1933 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phi la. Cleve. Rich.. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R*notes in actual circulation 3$ 163,689 222,892 671,817 242,941 317,132 145,082 125,815 819,594 143,795 91,156 113,713 36,322 233,430 r R "bank notes in actual circulation 104,SS4 12,214 51,168 5,572 3,2^1 — 2,281 26,233 185 731 877 914 1,46s # # Deposits: Member bank - reserve account 2, 203,889 144,125 1,017,087 115.^7 13s,U60 67.S95 • 51,340 62,374 77.253 >+9,976 149,547 Government 32,173 1,772 8,220 1,077 4,905 2,330 1,023 6,200 1,415 851 1,812 2,250 318 Foreign "bank 42,20S 3,066 l4,232 4,4ll 4,159 1,638 1,470 5,46l 1,428 966 1,218 1,218 2,9^1 Special deposits: member bank 90,942 3,429 6,311 7,6l4 15,0^2 7,276 3,082 32,102 3,627 1,228 4,775 277 6,179 nonmember bank 18,671 1,572 1,769 862 1,971 231 6,215 3,613 1,567 126 71+5 0tlxer deposits ^ 7 32 10.122 _26L 4,353 4,512 2.402 4,944 4,297 1.015 112. "m. 6,5*+8 Total deposits 2, ^32,615 158,057 1,057,544 130,605 167,731 85,622 59,54s 3^3,258 76,754 117.656 85,356 5^,156 166,278 Deferred availability items 328,902 37,100 79,661 26,364 31,923 28,792 9,811 ^0,315 16,199 8,863 17,840 15,17*+ l6,g6o Csqpital paid in 150,052 10,531 58,530 15,800 13,907 5,44o 4,779 15,528 4,027 2,821 4,24s 3,887 10,55*+ Surplus 278,599 20,460 85,058 29,242 28,294 11,616 10,5 44 39,497 io,is6 7,019 8,263 8,719 19,701 All other liabilities 26,789 768 8,437 1,109 3,01*1 1,244 2,909 3,500 i,li4 1,100 671 910 2,013 TOTAL LIABILITIES 6,>+85,530 462,022 2,012,215 451,633 565,292 277,796 215,687 1,287,925 252,260 159,346 230,968 120,082 450,301+ Ratio of total gold reserves and other cash* to deposit and E.R. note liabilities combined 68.1 80.1 6l.4 62.1 59.5 73.8 70.7 80.2 72.3 59.9 67.6 56.S 65.S Contingent liability on bills purchased foreign correspondents 35,436 2,608 11,639 3,752 3,537 1,394 1,251 4,645 1,215 822 1,036 1,036 2,501 MATURITY DISTRIBUTION OP BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 276,665 181,962 20,062 48,089 21,039 5,394 119 Bills "bought in open market 11,411 3,960 3,504 724 3,222 1 Certificates and "bills 794,968 107,725 28,988 76,550 158,896 220,276 202,533 Municipal warrants 5,029 4,906 25 10 38 50 * "Other cash" does not include F. R. notes or a "bank»s oral P. R. "bank notes, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JUNE 7, 1933 (In thousands of dollars) B-801d Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy, Dallas San Eran, Federal reserve notes Issued to F.R.bank "by F.R.Agent 3,419,635 23S,323 755,270 258,863 330,937 152,316 146,316 8^9,961 155,332 94,022 122,824 38,696 276,769 Held by Federal reserve "bank 255,946 15,431 83,453 15,922 13,805 7,234 20,501 30,367 11,543 2,s66 9,111 2,374 43,339 In actual circulation 3,163,689 222,892 , 671,817 242,941 317,132 145,082 125,315 819,594 143,795 91,156 113,713 36,322 233,430 Collateral held "by agent as security for notes issued to bank; Gold and gold certificates 1,463,639 70,912 473,446 97,450 107,27c 49,330 22,550 436,437 42,355 29,146 21,490 13,703 99,500 Gold fund - F. R. Board 1,318,435 156,017 212,100 74,550 103,500 83,505 73,000 352,000 32,700 31,000 66,300 2,500 80,763 Eligible paper 162,422 13,261 41,812 19,294 32,456 10,476 7,702 10,219 1,562 4,357 5,902 4,666 10,715 U.S. Gov't, securities 505,900 29,oco 6g t ooo 100,000 12, xo 44,ooc 56,000 29,000 30,900 32,000 13,000 92,000 Total collateral 3,455,396 240,190 756,353 259,294 343,226 155,311 147,252 854,706 155,617 95,403 126,192 33,869 232,973 FEDERAL RESERVE BAM NOTE STATEMENT ON JUNE 7, 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.3ank( Out standing) 133,394 14,230 64,274 6,280 5,520 2,920 32,920 320 820 1,000 2,160 3,400 Held by Federal reserve bank 29,010 2,066- 13,106 708 2,279 639 6,687 135 39 123 1,246 1,932 In actual circulation 104,384 12,214 51,l6S 5,572 3,241 2,281 26,233 135 731 377 914 1,463 Collateral pledged against outstanding notes: Discounted and purchased bills 22,970 21,201 1,325 346 93 U.S.Govt, securities 149,474 20,000 64,274 8,000 2,000 4o,ooo 5,000 2,000 1,000 2,200 5,000 Total collateral 172,444 20,000 64,274 8,000 21,201 3,325 4o,ooo 5,346 2,000 1,000 2,293 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis