H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOS THE PRESS Released for publication B-801 Friday morning, June 30; Federal Reserve Board not earlier. June 29, 1933• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending June 28, as reported by the Federal reserve banks, was $2,196,000,000, a decrease of $7,000,OCX) compared with the preceding week and of $158,000,000, coiapared with the corresponding wedc in 1932. On June 28 total reserve bank credit amounted to $2,182,000,000, a decrease of $12,000,000 for the week, This decrease corresponds with an increase of $89»000,000 in Treasury currency, adjusted, and a decrease of $21,000,000 in money in circulation, offset in part by increases of $81,000,000 in member bank reserve balances and $17,000,000 in unexpended capital funds, nonmember deposits, etc. Bills discounted decreased $21,000,000 at the Federal Reserve Bank of San Francisco, $3,000,000 at Cleveland and $31,000,000 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 $11,000,000 and of Treasury certificates and bills $9,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending June 28, 1933* were as follows: Increase or decrease since June 28 June 21 June 29 1953 1933 1932 (In millions of dollars) Bills disco-unted 191 - 31 Bills bought 8 ~ 1 U. S# Government securities 1,975 + 20 Other reserve bank credit 7 - 1 TOTAL RESERVE BANK CREDIT 2,182 - 12 - iSk Monetary gold stock M is + l + 39S Treasury currency adjusted l#979 + 89 + 168 Money in circulation 5,675 - 21 + 26 Member bank reserve balances 2,286 + 81 + 252 Tlhespended capital funds*nonmember dqpo sits, etc. 517 + 17 + 123 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Heleas'ed for publication Friday morning, June 30» 1933i not earlier, B-SOla RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) J«£SL22*12J1 June 21,1933 Jane 29,1932 R E S O U R C ES Gold with Federal reserve agents . . . .. 2,809,201 2,756,903 1,918,617 Gold redemption fund with U.S.Treasury . . 44,068 44,250 59,798 Sold held exclusively against F.R.notes 2,853,269 2,801,153 1,978,415 Gold settlement fund with F. H. Board . . 4S5,550 53*+»924 265,672 Gold and gold certificates held by banks . 204,946 197,131 335.287 Total gold reserves 3,5*+3.765 3,533,208 2,579.37*+ Other cash* 290,507; 287,060 272,542 Total gold reserves and other cash . . 3,834,272 3,820,268 2,851,916 Redemption fund - F. R. bank notes . . .. 7,392 7»392 Bills discounted: Sec. by U.S.Government obligations . . . 45,144 ^7,^77 182,693 Other bills discounted 145,837 17*+>579 287,135 Total bills discotuited . . . .. ~ 190,981 222,056 1+69,828 Bills bought in open market . 8,186 8,827 63,519 U.S.Government securities: Bonds 440,836 441,030 ^,532 Treasury notes 705,047 693,482 267,^83 Certificates and bills . . . . . . .. 829,329 820,162 1,098,45b Total U.S.Government securities 1,975,212 1,954,674 1,800,971 Other securities 2,848 2,923 5.9*+*+ Total bills and securities . . . 2,177,227 2,188,1480 2,34-0,262 Dae from foreign banks 3,729 3.835 3,655 F. R. notes of other banks l6,4ll 21,471 14,768 Uncollected items 3U0,469 379.017 328,552 Bank premises . . . 5^,312 5*+. 312 58,085 All other resources 50,193 50,951 45,205 TOTAL RESOURCES 6,484,005 6,525,726 5,642,4^3 L I A B I L I T I ES F.R. notes in actual circulation . . .. 3,Ool,3<?4 3,090,286 2,755,864 F.R.bank notes in actual circulation , , 120,081 11-7»77*+ Deposits: Member bank - reserve account 2,286,207 2,205,302 2,033,697 Government 55.029 129,527 28,331 Foreign bank 20,286 10,088 8,396 Special deposits - member bank . . .. 76,358 7*3,696 nonmember bank . . 18,739 19,31*+ Other deposits 53,114 1*3,833 36,937 Total deposits 2,509,783 2,486,760 2,107,361 Deferred availability items 339,6^2 377.793 326,818 Capital paid in 146,744 **l47,665 154,816 Surplus 278,599 278,599 259.*+21 All other liabilities 27,822 **26,849 38,163 TOTAL LIABILITIES 6,484,005 6,525,726 5,642,443 Ratio of ^otal gold reserves and other cash* to deposit and F.R.note liabilities combined 68.8$ 68.5$ 58.6$ Contingent liability on bills purchased for foreign correspondents 36,060 36,91+8 98,163 * "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 AUD LIABILITIES Of THE FEDERAL RESERVE BAMS ON JUHE 28, 1933 R E S O U R C ES (In thousands of dollars) B~S01b Total Boston Eew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,809,20; 231,929 635,1+16 192,000 210,770 133,835 101,550 773,767 12^,309 63,269 101,290 2^,803 216,263 Gold redemption fund with U.S.Treas. 1+1+,06S U.SlU 7,057 ^,219 6,1+59 978 2,607 U,U03 1,17!+ 1,951 1,66U 1,225 7,517 Gold held exclusively against F, R. notes 2,853,269 236,743 642,1+73 196,219 217,229 134,813 104,157 778,170 125,1+83 65,220 102,954 26,028 223,780 Gold settlement fund with F.R.Board 1+85,550 33,^30 162,61+9 23,1+81+ 1+9,965 9,839 10,918 103,276 19,^5 21,193 22,1+10 10,005 18,886 Gold and gold certif. held by banks 204,§46 22,852 100,138 lU,10S l+,920. i+,65l+ 3,799 6,701+ 1,190 207 13,123 5,950 27,301 Total gold reserves 3,5^3,765 293,025 905,260 233,811 272,111+ 11+9,306 118,87U 888,150 11+6,168 86,620 138,1+87 1+1,983 269,967 Other cash* 290,507 19,2lJO 86,767 26,295 2^,976 16,805 15,5H 38,570 13,761 U,73l 11,863 9,753 22,235 Total gold reserves & other cash3,83!+,272 312,265 992,027 260,106 297,090 166,111 I3i+,3S5 926,720 159,929 91,351 150,350 51,736 292,202 Redemption fund - J.R. bank notes 7,392 1,000 3,000 292 350 150 2,000 100 100 50 100 250 — Bills discounted: S3cured>*r U.S.Govt, obligations UU55..11VV** 2,506 22,050 5,955 6,118 2,03s 22llUU 2,291 1,039 285 1,238 385 1,025 Other bills discounted 1^5,837 7,395 36,105 30,830 ll+,58S 12,176 7,^10 11,1+00 1,539 5,053 8,299 3,719 7,323 Total bills discounted 190,981 9,901 58,155 36,785 20,706 ll+,2ll+ 7,621+ 13,691 2,578 5,338 9,537 l+,10l+ 8,3^8 Bills bought in open market 8,186 511+ 2,5H 739 691 272 2I+1+ 915 203 137 202 302 1,1+56 U. S. Government securities: Bonds 1+140,836 21,31s 1S2,31U 29,833 3M27 10,696 10,39^ 65,901 ll+,260 16,900 11,81+5 17,390 25,358 Treasury notes 705,01+7 41,607 2DS,616 53,1+1+6 69,892 21,592 20,911 92,61+5 27,776 18,898 23.560 ll+,920 51,181+ Certificates and bills 829.329 1+6.380 300.098 59.579 77.912 21+.070 23.310 1U6.011 30.962 21.060 26.262 16.630 57.055 Total U.S.Govt, securities 1,975,212 109,305 751,028 ll+2,85S 182,1+31 56,358 5^,615 30l+,557 72,998 56,858 61,667 1+8,9^0 133,597 Other securities 2,8l+S — 2,263 525 — — 50 — 10 — — Total bills and securities 2,177,227 119,720 813,957 180,907 203,828 70,81+1+ 62,483 319,213 75,779 62,3I+3 7l,iK)6 53,3^6 ll+3,lK)l Dae » from foreign banks 3,729 292 1,313 1+20 378 ll+9 133 520 21 ll+ ill 111 267 F. R. notes of other banks 16,1+11 1+01+ 1+.610 355 815 980 1,19^ 2,822 778 61+2 1.U7U 346 1,991 Uncollected items 31+0,1+69 1+0,911 89,^97 27,258 3*+,150 29,^32 9,571 1+3,201 13,652 10,7^6 18,789 10,060 13,202 Bank premises 5^,312 3,230 12,SIS 3,39'4 6,929 3,238 2,1+22 7,605 3,285 1,7^6 3,559 1,792 l+,2l+l+ All other resources 50,193 700 23,193 3,728 5,76^ 1+,0S7 . U,990 1.861 670 1,577 S76 1,^39 1,308 TOTAL RESOURCES 6,i+gi+,005 1+73,572 1,91+0,U15 1+76,1+60 51+9,301+ 27MU1 215,320 1,303,9^2 25U,2iU 168,519 21+6,615 118,930 1+56,865 * "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 ON JUNE 28, 1933 . L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,061,324 220,085 648,628 236,979 305,7^ 140,072 119,659 787,607 140,319 89,445 HI, 13^ 35,198 226,^2 F.E.bank notes in actual circulation 120,081 12,925 55,358 5,602 5,154 — 2,373 30,895 316 967 917 1,373 ^.201 Deposits: Member "bank -> reserve account 2,286,207 159,367 955,9^9 1^6,478 137,97^ ^^ 50,911 338,370 68,727 ^7,653 95,345 53,779 159,211 Government 55,029 3,1^3 lU,120 2,709 10,135 989 6,165 2,844 3,568 2,284 1,191 1,889 5,992 Foreign bank 20,286 1,449 7,068 2,084 1,965 77^ 69H 2,580 675 456 576 576 1,389 Special deposits: member bank 76,358 3,081 5,36^ 8,397 5,901 6,178 2,501 29,453 3,5^6 1,292 5,074 286 5,285 nomaember bank 18,789 — 1,095 1,801 220 2,962 218 7,018 3,723 939 176 — 637 other deposits 53,H1* 5,550 14,135 53 4,067 H,489 5,218 5,39^ 2,436 4,037 254 719 6,762 Total deposits 2,509,783 172,590 997,731 161,522 160,262 87,835 65,707 385,659 82,675 56,661 102,616 57,249 179,276 Deferred availability items 339,652 4l,Ob6 86,316 26,07^ 33,961 28,628 9,157 ^3,^89 l£,4l4 10,455 18,765 -11,562 1^,765 Capital paid in 146,744 10,609 58,535 15,806 12,902 5,446 4,867 13,066 4,005 2,822 4,24^ 3,881 10,56l Surplus -<- 278,599 20,460 85,058 29,242 28,294 ll 6l6 10,544 39,497 10,186 7.019 8,263 8,719 19,701 t All other liabilities 27,822 837 8,789 1,235 2,985 1,244 3,021 3,729 1,299 1,150 676 9^8 1,909 TOTAL LIABILITIES 6,484,005 478,572 l,94o,4l5 476,460 549,304 27^,841 215,328 1,303,942 254,214 168,519 246,615 118,930 456,865 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 68.8 79.5 60.3 65.3 63.S 72.9 72.5 79.0 71.7 62.5 70.3 56.0 72.0 Contingent liability on bills purchased for foreign correspondents 36,060 2,69s 11,444 3,881 3,659 l,44l 1,29^ M05 1,257 850 1,072 1,072 2,587 MATURITY DISTRIBUTION OP BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to So days 6l to 90 days Over 6 months 6 months Bills discounted 190,981 136,381 16,677 14,555 18,468 4,853 Bills bought in Open market 8,186 1,370 1,552 2,697 2,567 Certificates and bills 829,329 41,613 46,025 108,495 284,562 223,849 124,785 Municipal warrants 2,g4g 2,727 10 38 73 * "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 HOTS STATEMENT ON JUNE 28, 1933 (in thousands of dollars) B~S01d Total Boston Hew York Phi la. CI eve. Rich. Atlanta Chicago St.Louis Mijan. Kans.Cy. Dallas Saji Fran. Federal reserve notes? Is3ued to F.R.bank "by F.R.Agent3 ,327,30S 237,519 730,661+ 25^,163 320,61+5 1H6.971 1^,661 817,218 151,76U 93,191 120,Ul6 39,^26 271,670 Held by federal reserve "bank 265,98*+ 17,1+31+ 82,036 17,isH ii+,899 6,299 24,002 29,6ll 11,1+1+5 3,7^6 9,282 1+,22S ^5,218 In actual circulation 3,o6l,32H 220,085 61+8,b2S 236,979 305,71+6 lU0,072 119,659 787,607 11+0,319 .89,1+1+5 ill, 131+ 35,192 226,^+52 Collateral hald "by agents as security for notes issued to 'bank: Gold and gold certificates 1,523,266 70,912 529,316 97,^0 107,270 ^9,.3..3 0 22,550 '437,767 1+2,609 30,269 21,1+90 18,803 95,500 Gold fund - F. R. Board 1,235,935 161,017 106,100 9^,550 103,500 8^,505 79,ooo 336,000 81,700 33,000 79.S00 6,000 120,763 Eligible paper 115,779 9,276 36,792 16,671+ 15,593 7,29s 3,691 7,210 1,586 3,119 V-«5 3,931 5.U7U U.S.Gov't, securities 1+1+1,200 59,000 1+7,000 100,000 7,000 39,000 50,000 26,000 27,200 17,000 12,000 57,000 Total collateral 3,366,180 21+1,805 731,208 255,671+ 326,363 1^8,133 li&,2i+l 830,977 151,S95 93,5SS 122,775 ^,781+ 272,737 FEDERAL RESERVE BAKE NOTE STATEMENT ON JUNE 28, 1933 (In thousands of dollars) Total Boston N-3-S7 York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. federal reserve hank notes: Issued to F R.Bank( Outstanding) 138,611+ ll+,280 61+,27l+ 6,280 7,680 2,920 33,380 1+00 1,060 1,000 2,3*«> 5,000 # Held by Federal reserve bank IS,533 1,355 8,916 67s 2,526 5I+7 2,1+35 81+ 93 S3 967 799 In actual circulation 120,081 12,925 55,358 5,602 5.15^ - 2,373 30,895 316 967 917 1,373 1+, 201 Collateral pledged against outstanding notes: Discountei and purchased bills 5,81+1 1+.956 -- 1+81 239 U5 U.S.Govt, securities 155,971+ 20,000 61+~27H 8,000 5,000 — 3»ooo 1+0,000 5,000 2,000 1,000 2,700 5,000 Total collateral 161,815 20,000 6i+, 27!+ 8,000 9,956 - 3.^1 1+0,000 5,289 2,000 1,000 2,815 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis