H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR ME PEESS Released for publication B-S01 Friday morning, June 23; Federal Reserve Board not earlier June 22, 1933• # CONDITION OF FEDERAL RESERVE BANKS The daily average voliame of Federal reserve bank credit outstanding during the week ending June 21, as reported by the Federal reserve banks, was $2,203,000,000, a decrease of $6,000,000 compared with the preceding week and of $92,000,000 compared with the corresponding week in 1932* On June 21 total reserve bank credit amounted to $2,19^*000,000* a decrease of $18,000*000 for the week. This decrease corresponds with decreases of $76*000,000 in member bank reserve balances, $27,000,000 in money in circulation and $H,000,000 in unexpended capital funds, nonmember deposits, etc*, offset in part by a decrease of $90,000,000 in Treasury currency, adjusted. Bills discounted decreased $23,000,000 at the Federal Reserve Bank of Cleveland, $2,000,000 each at Philadelphia and San Francisco and $32,000,000 at all Federal reserve banks. The System*s holdings of bills bought in open market declined $1,000,000, while holdings of United States Treasury notes increased $10,000,000 and of Treasury certificates and bills $13,000,000. Changes in -the amount of reserve bank credit outstanding and in related items during the week and the year ending June 21, 1933% were as follows: Increase or decrease since June 21 June ik June 22 (In millions of dollars) Bills discounted 222 - 32 - 266 Bills bought 9 - 1 - U» S. Government securities 1,955 + 23 + 225 Other reserve "bank credit 8 - 7 s TOTAL RESERVE BMK CREDIT 2,194 - 18 - 94 Monetary gold stock 4,317 - 1 + Uoo Treasury currency adjusted 1,890 - 90 + 120 Mongy in circulation 5,696 - 27 + 191 + Member bank reserve balances 2,205 - 76 + 139 Unexpended capital funds,nonmember deposits,etc. 500 - U 97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 23.19331 not earlier. B-SOla RESOURCES AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) June 21.1933 June 14,1933 June 22,1932 R E S O U R C ES Gold with Federal reserve agents , , , , 2,756.903 2,816,469 1.899,307 Gold redemption fund with U.S. Treasury 44,250 42,906 52,186 Gold held exclusively against F.R.notes 2,801,153 2,859,375 1,951,493 Gold settlement fund with F. R. Board . 534,924 427,674 270,216 Gold and gold certificates held by banks 197,131 245,741 340,808 Total gold reserves . . . . . .. 3.533,203 3,532,790 2,562,517 Other cash* 237,060 293,254 275.586 Total gold reserves and other cash . 3,320,263 3,826,044 2,838,103 Redemption fund - F. R. bank notes . . 7,392 7.242 — Bills discounted: Sec. by U.S.Government obligations . 47,477 55,553 196,563 Other bills discounted . . . . . .. 198,209 291,643 174,579 Total bills discounted . . .. 222,056 253.762 488,206 Bills bought in open market . . . .. 3,327 10,200 53,718 U. S. Government securities: Bonds . . . . . . . .. 441,030 441,138 429,185 Treasury notes . . . .. . 693,432 683.509 224,676 Certificates and bills . . . . . .. 320,162 807,747 1,075,840 Total U.S. Government securities . 1,954,674 1,932,444 1.729,701 Other securities . . . . .. 2,923 3,624 5,716 Total bills and securities . . . 2,183,430 2,200,030 2,277,341 Due from foreign banks . « . . . • •• 3,832 3,648 3,835 F. R. notes of other banks . . . . .. 21,471 13,848 13,601 Uncollected items . . . . . . . . . .. 379,017 407,333 354,342 Bank premises . . . . . . . . . . . .. 54,312 54,312 58,082 All other resources . . . . . . . . .. 50,951 52,603 43,036 TOTAL RESOURCES 6,525.726 6,570,299 5.588,153 L I A B I L I T I ES F. R. notes in actual circulation . .. 3,090,236 3.118,379 2.615,932 F. R. bank notes in actual circulation 117.774 113,264 Deposits: Member bank - reserve account . . .. 2,205,302 2,231,378 2,066,092 Government 129.527 46,422 54,351 Foreign Jjajik; . 10,033 3,410 17,556 Special deposits - membor bank . . . 72,696 33,449 nonmember bank . . 19.314 13,334 Other deposits , 43,010 34,893 43,833 Total aap&slfrs . . . . .. 2,436,760 2,431,003 2,172,392 Deferred availability items . . . .. 377,793 399,701 347,596 Capital paid i n . . . .. 1^7,650 147,563 154,806 Surplus 273,599 278,599 259,421 All other liabilities . . . . . . . .. 26,364 31,790 37,506 TOTAL' LIABILITIES 6,525,726 6,570,299 5.588,153 Ratio of total gold reserves and other cash* to depositj and F. R.note liabities combined . . . .. . 63. 556 68.3* 59.3$ Contingent liability on bills purchased for foreign correspondents . . . . .. 36,943 35,031 101,465 * "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 MB LIABILITIES OF THE FEDERAL RESERVE BANKS ON JUNE 21, 1933 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Qy. Dallas San Fran. Gold with Federal reserve agents 2,756,903 231,929 643,4l6 172,000 210,770 135,835 105,550 773,667 124,215 .61,665 93,290 21,303 183,263 Gold redemption fund with U.S.Treas. 44,250 4,833 5,233 ^,244 6,496 991 2,742 4,670 1,198 2,051 2,690 1,266 7,836 Gold held exclusively against F. R. notes 2,801,153 223366,,776622 61+8,61+9 176,21+1+ 217,266 136,826 108,292 778,337 112255,,441133 6633,,771166 95,980 2222,,556699 191,099 Gold settlement fund with F.R.Board . 53U,92i+ 60,195 169,61+5 17,621+ 39,559 24,527 18,032 95,057 25,55^ 17i801 21,523 11,170 34,237 Gold and gold certif. held by banks 197,131 22,50s 99,61+1 13,832 M 75 4,603 3,541 6,399 1,31^ 1,372 13,004 5,917 20,125 Total gold reserves 3,533,208 319,^5 917,935 207,700 261,700 165,956 129,865 879,793 152,281 82,889 130,507 39,656 245,461 Other cash* 287,060 20,960 86,681+ 26,1+62 25,825 16,255 14,541 37,325 12,811 4,347 11,024 9,408 21,418 Total gold reserves & other cash 3,820,268 340,425 1L ,ooi+,6i9 234,162 287,525 182,211 I44,4O6 917,118 165,092 87,236 141,531 49,064 266,879 Redemption fund - F.R. bank notes 7,392 1,000 3,000 292 350 — 150 2,000 100 100 50 100 250 Bills discounted: Secured by U.S.Govt, obligations 4477,,447777 2,528 2233,,660022 6,325 6,101 2,150 449988 2,989 881166 333 1,390 375 370 Other bills discounted 174,579 7,7^2 35,999 31,193 17,961+ 12,619 8,267 12,300 2,203 5,4s6 8,781 3,811 28,214 Total bills discounted 222,056 10,270 59,601 37.51S 2l+,o65 14,769 8,765 15,289 3,019 5,819 10,171 4,186 28,584 Bills bought in open market 8,827 550 2,594 756 691 284 257 1,104 234 156 224 306 1,671 U. S. Government securities: Bonds 1+1+1,030 20,933 123,506 29,987 34,862 10,318 10,3^7 64,953 14,215 1166,,993344 12,032 17,481 25,412 Treasury notes 693,1+82 to, 235 266,892 52,850 69,170 20,473 20,424 89,194 27,213 18,634 23,139 l4,s4o 50,418 Certificates and bills 820,162 45,056 299,4o4 59,185 77,459 22,926 23,172 142,625 30,473 20,870 25,912 16,619 56,461 Total U^S.Govt. securities 1,95^,67^ 106,271+ 71+9,802 11+2,022 181,1+91 53,717 53,9^3 296,772 71,901 56,438 61,083 4s,940 132,291 Other securities 2,923 — 2,335 525 — — — 50 — 13 — — — Total bills and securities 2,188,1+80 117,091* 814,332 180,821 206,21+7 68,770 62,965 313,215 75,151+ 62,426 71,47s 53,432 162,546 Due from foreign banks 3,835 292 1,419 1+20 37 8 149 133 520 21 14 111 ill 267 F. R. notes of other banks 21,1+71 376 8,296 365 1,067 1,845 1,313 2,054 1,426 731 2,043 262 1,693 Uncollected items 379,017 1+2,895 104,720 29,01+9 35,61+6 32,025 9,617 46,715 14,485 11,030 22,782 11,836 18,157 Bank premises 54,312 3,280 12,818 3,39^ 6,929 3,238 2,422 7,605 3,285 1,746 3,559 1,792 4,244 All other resources 50*951 711 22.182 3,745 7,223 4.117 5.133 1,832 702 1,598 922 1,493 1,293 TOTAL RESOURCES 6,525,726 506,073 1,971,386 1+52,24s 5^5,365 292,355 226,139 1,291,059 260,265 164,941 21+2,1+76 118,090 1+55,329 * "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 MtD LIABILITIES OP THE FEDERAL RESERVE BMKS ON JTOTE 21, 1933 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago F.R.notes in actual circulation ,3,090,286 222,*27 650,019 238,959 307,799 1*1,101 122,892 799,872 F.R.bank notes in actual circulation 117,77* 11,771 5*,*32 5,5*1 *,938 — 2,351 31,387 273 881 888 1,260 4,052 'Deposits: Member bank - reserve account 2,205,302 116633,,117711 996655,,66**77 111166,,336611 113311,,99**55 6655,,445555 55**,,776622 308,020 66,507 **,107 81,702 52,778 154,847 Government 129,527 2*,376 25,858 6,018 8,599 24,063 13,596 5,310 7,^63 4,679 6,450 609 2,506 Foreign "bank 10,088 725 3,*72 1,0*3 98* 387 3*8 1,291 33S 229 288 283 695 Special deposits: member "bank 78,696 3,188 5,7** 7,839 6,02* 5,*29 2,513 32,175 3.616 1,295 5,160 289 5**24 nonnenber "bank 19,31* — 1,286 1.769 20* 2,525 193 7,157 U,300 1,118 1*7 615 Other deposits 43.8^ 5,385 11,710 157 *,169 4,069 2,251 2,622 1,510 388 386 6,702 Total deposits 2,486,760 196,845 1,013,717 133,127 151,925 101,928 73.663 356,575 86,70S 52,93s 9*,135 5*,350 170,789 referred availability items 377,793 *3.l9l 101,389 28,353 35,512 31,120 S,957 *7,152 16,636 9,920 22,6*4 13,463 19**56 Capital paid in 147,650 10,57s 5S.530 15,S06 13,932 5,*39 i j J 13,038 *,027 2,821 *,253 3,882 10,551 Surplus 278,599 20,460 85,05s 29,842 28,294 ll,6l6 10,544 39,*97 10,186 7,019 8,263 8,719 19,701 All other liabilities 26,864 801 8,241 1,160 2,965 1,151 3,53S 1,35S 1,142 651 915 2,003 2,939 TOTAL LIABILITIES 6,525,726 506,073 1,971,386 452,248 5*5,365 292,355 226,139 1,391,059 260,265 164,941 242,476 118,090 455,329 Ratio of total gold reserves and other cash* to deposit and E R. # note liabilities combined 68.5 81.2 60.4 62.9 62.5 75.0 73.5 79.3 72.5 60.9 68.8 5*.6 66.8 Contingent liability on bills ptjtchased for foreign correspondents 36,948 2,69s 12,332 3,881 3,659 l,44i 1,294 4,805 1,257 S50 1,072 1,072 2,587 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 50 days Over 6 months 6 months Bills discounted 222,056 146,300 l*,03o 35,965 20,653 5.042 60 Bills bought in open market 8,827 *,336 89* 1**31 2,166 Certificates and Mils 820,162 35,H3 3*,325 138,8^4 269,576 224,529 117,775 Municipal warrants 2,923 2,803 10 3S 72 * "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 JOKE 21, 1933 (la thousands of dollars) B-SOld Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal reserve notes: Issued to F.R.bank by F.R.Agent 3,362,027 238,1418 735,R51 255,754 321,03s 1^9,2^3 147,719 828,359 152,130 93,971 122,610 39,380 277,91*+ Held by Federal reserve bank 271,801 13,931 85,532 16,795 13,239 8,1^42 24,327 28,^87 11,053 3,751 10,96s 3,879 49,137 In actual circulation 3,090,286 222,427 650,019 238,959 307.799 l4l,101 122,892 799,872 141,077 30,220 111,642 35,501 228,777 Collateral held "by agents as security for notes issued to "bank: Gold and gold certificates 1,523,96s 70,912 529,316 97,450 107,270 49,330 22,550 437,657 42,515 29,165 21,490 18,803 102,500 Gold fund - F. R. Board 1,227,935 16},017 n4,ioo 74,550 103,500 86,505 83,000 336,000 81,700 32,500 71,300 2,500 80,763 Eligible paper 126,141 10,281 37,965 16,477 l6,S20 7,778 4,34s 8,507 2,062 3,£03 5,033 4,06s 9,199 U.S.Gov't, securities 504,200 55,000 68,000 100,000 8,000 39,000 50,000 26,000 29,200 27,000 15,000 87,000 Total collateral 3,387,244 242,210 736,381 256,477 327,590 151,613 148,898 832,174 152,277 34,46s 125,323 4o,37l 279,462 FEDERAL RESERVE BANK NOTE STATEMENT ON JUNE 21, 1933 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn, Kans. Qy. Dallas San Fran. Federal reserve bank notes: Issued to F.R.Bank( Outstanding) 138,534 14,280 64,274 6,280 7,680 2,920 33,380 400 980 1, 000 2,340 5,000 Held by Federal reserve bank 20,760 2,509 9,S42 739 2,742 569 1,993 127 99 112 1,080 948 In actual circulation 117,774 11,771 54,432 5,541 4,938 ~ 2,351 31,387 273 881 888 1,260 4,052 Collateral pledged against outstanding notes: Discounted and purchased bills 8,412 7,H3 898 286 115 U.S.Govt, securities 155,474 ao,ooo 64,274 8,000 5,000 2,500 40,000 5,000 2,000 1, 000 2,700 5,000 Total collateral 163,886 20,000 64,274 8,000 12,113 3,398 40,000 5,286 2,000 1, 000 2,815 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis