H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, July lk\ Federal Reserve Board not earlier July 13,1933 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending-July 12, as reported by the Federal reserve banks, was $2,230,000,000, an increase of $5,000,000 compared witft the preceding week and a decrease of $lg7,000,000 compared with the corresponding week in 1932. On July 12 total reserve bank credit amounted to $2,201,000,000, a decrease of $5,000,000 for the week. ..This decrease corresponds with a decrease of $85,000,000 in money in circulation, offset in part by increases of $50,000,000 in member bank reserve balances and $6,000,000 in unexpended capital fords, nonmember deposits, etc,, and a decrease of $25,000,000 in Treasury currency, adjusted, Bills discounted decreased $10,000,000 at the Federal Reserve Bank of San Francisco and $14,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $10,000,000, while holdings of Treasury certificates and bills increased $12,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 12, 1933, were as follows: Increase or decrease since July 12 July 5 July 13 1933 1933 1932, (In millions of dollars) Bills discounted 168 - ~ 3^8 Bills bought 13 - 10 U. S. Government securities 2,007 + 12 + 186 Other reserve bank credit 13 + 7 5 TOTAL RESERVE BANK CREDIT 2,201 ~ 5 - 216 Monetary gold stock M l9 + 1 + 3S7 Treasury currency adjusted 1,930 - 25 + 163 Money in circulation 5,667 - 85 - u 7 Member bank reserve balances 4- 50 + 25^ Unexpended capital funds,nonmember deposits,etc. 4. 6 + 127 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday norning, July 1*+, 1933; not earlier. 3-801a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE IsiNKS COMBINED (In thousands of dollars) July 12.1933 July 5. 1933 July 13.1932 R E S O U R C ES Gold with Federal reserve agents . . . 2,785,711 2,767,366 1,929,862 # Gold rederjption fund with U.S.Treasury . 43, 643 44,317 62.864 Gold held exclusively against F.R.notes 2,829,354 2,811,683 1,992,726 Gold settlement f\md with F.R.So^rd . . 508,904 527,701 260,356 Gold and gold certificates held by banks # 207,58^ 209.708 335.015 Total gold reserves 3,5^5,842 3,549,092 2,588,097 Other cash* 278.06l 255,459 276,612 Total gold reserves and other cash . . . 3,823,903 3,804,551 2,864,709 Reder.ption fund - F. R. bank notes . - 8,0l4 8,014 — Bills discounted: Sec. by U.S.Government obligations , . 3399,,445500 43,335 201,921 Other bills discounted . . . . . .. 128,4l6 138.468 313,649 Total bills discounted . . . . 167,866 181,803 515,570 Bills bought in open market . . . . .. 23,084 61,621 1133,,119944 U. S. Government securities: Bonds 44o,776 440*779 W3.927 Treasury notes . . .. . . .. . . 697,484 697,514 266,477 Certificates and bills 862,973 856.965 l.l4o.728 Total U.S.Government securities 2,007,233 1,995,253 1,821,132 Other securities . . . . . .. 2,157 2,297 5,935 Total bills and securities . . 2,190,450 2,202,442 2,4O4,25S Due from foreign banks 3,958 3,729 2,709 F. R. notes of other banks 17,014 15,4l6 15,150 Uncollected items . . . .. 4io,386 357,321 376,672 Bank premises . . . . .. . . 54,367 54,366 58,114 All other resources 50,951 51,163 47,175 TOTAL RESOURCES . 6,559,043 6,497,002 5,768,787 L I A B I L I T I ES F. R. notes in actual circulation,, . . . . 3,067,062 3,115,331 2,835,750 F. R. bank notes in actual circulation . . 115,853 124,012 — Deposits: Member ba,nk - reserve account . . . . 22,,226688,,772288 2,218,'912 22,,001144,,660044 Government ... . . . . 83,821 67,965 59,150 Foreign bank 15,O4I 15,924 9,862 Special deposits - member bank . . . . 81,743 77,196 — nonmember bank . . 22,997 19,585 — Other deposits 49 487 51.082 33,236 t Total deposits 2,521,817 2,450,724 2,116,852 Deferred availability items 403,886 357,504 367,055 Capital paid in . • l46 36o l46,796 154,757 f Surplus 278,599 27S,599 259,421 All other liabilities . . . . . . . . .. 24,036 34,952 £5,466 TOTAL LIABILITIES - 6,559,043 6,497,002 5,768,787 Ratio of total gold reserves and other cash* to deposit and F.R.note liabi- Ca )>«? 68 lities combined . , . . .. 68.4^ 57.8$ Contingent liability on Mils purchased for foreign correspondents 35,761 36,140 6688,,554411 * "Other cash'1 does not include F R. :no tes or a bank's own F.R. bank notes. f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 12, 1933 B-SOlb R E S O U R C ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,785,711 242,989 602,706 188,000 222,770 128,835 98,550 766,922 129,289 67,779 104,290 26,318 207,263 Gold redemption fund with U.S.Treas. 43,643 4,738 8,630 4,077 5,276 . 949 2,426 4,205 l.ll6 l,9l4 l,64l 1,222 7,449 Gold held exclusively against F. R. notes 2.829,354 247,727 611,336 192,077 228,046 129,784 100,976 771,127 130,405 69,693 105,931 27.540 214,712 G-old settlement fund with F.R.Board 508,904 33,380 143,447 13,730 53,422 23,527 9,004 117,881 26,916 21,653 28,237 13,164 24,543 Gold and gold certif. held "by "banks 207,584 21,746 107,362 14,321 4,435 4,711 3,748 5,669 800 333 12,502 5,399 26,558 Total gold reserves 3,545,842 302,853 862,145 220,128 285,903 158,022 113,728 894,677 158,121 91,679 146,670 46,103 265,813 Other cash* 278,061 19,7^4 86,370 26,465 22,869 14,695 14,305 35,731 12,712 4,502 10,528 8,926 21,2l4 Total gold reserves & other cash 3,823,903 322,597 948.515 246,593 308,772 172,717 128,033 930,408 170,833 96,181 157,198 55,029 287,027 Redemption fund - F.R. "bank notes 8,0l4 1,000 3,500 314 350 150 2,000 100 100 50 200 250 Bills discounted: Secured "by U.S.Govt, obligations 39,450 2,019 21,386 5,358 3,o48 1,937 265 1,204 478 121 866 342 2,426 Other "bills discounted 128,4l6 6,191 32,437 28,222 7,603 11,793 7,89s 11,246 1,806 4,646 7,384 3,219 5,971 Total "bills discounted 167,866 8,210 53,823 33,580 10,651 13,730 8,163 12,450 2,284 4.767 8,250 3,561 8,397 Bills "bought in open market 13,194 522 7,403 750 702 276 248 929 207 l4o 206 306 1,505 U. S. Government securities: Bonds 440,776 21,722 180,755 29,675 34,358 10,834 10,439 67,309 14,307 16,786 11,909 17,270 25,412 Treasury notes 697,484 41,953 262,844 52,539 68,579 21,622 20,820 94,432 27,556 18,473 23,432 14,512 50,722 Certificates and "bills 868,973 ^9,775 310,542 62,335 81,364 25,652 24,702 154,780 32,694 21,925 27,805 17,218 60,181 Total U.S.Govt, securities 2,007,233 113,450 754,l4i 144,549 184,301 58,108 55,961 316,521 74,557 57,184 63,146 49,000 136,315 Other securities 2,157 — 1,587 510 — — — 50 — 10 Total "bills and securities 2,190,450 122,182 816,954 179,389 195,654 72,114 64,372 329,950 77,048 62,101 71,602 52,867 146,217 Due from foreign "banks 3,958 2Sb 1,601 4li 369 145 131 508 18 12 108 108 261 F. R. notes of other "banks 17,014 330 4.323 340 1,04s 982 1,286 3,092 1,599 967 1,289 297 i,46i Uncollected items 4io,386 4s,6s4 107,923 32,015 40,181 34,668 10,475 50.188 16,618 11.093 24,585 14,108 19,848 Bank premises 5^,367 3,280 12,818 3,448 6,929 3,238 2,422 7,605 3,285 1,747 3,559 1,792 4,244 All other resources 50,951 720 24,815 3,711 5,265 3,941 4,777 1,923 672 1,534 882 1,482 1,229 TOTAL RESOURCES 6,559,043 499,079 1,920,449 466,221 553,568 287,805 211,646 1.325,674 270,173 173,735 259,273 125,883 460.037 * "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

BESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 12, 1933 B-SOlc L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dailas San Fran. F.R.notes in actual circulation 3,067,062 224,684 656,009 240,170 305,873 139,983 112,327 779,395 138,892 90,474 112,260 35,111 225,884 F.R.bank notes in actual circulation 115,253 12,615 50,460 6,150 5,197 -- 2,493 30,371 362 1,155 976 1,831 4,243 Deposits: Member "bank - reserve account 2,268,728 164,018 912,879 127,3^7 143,732 76,35"+ 54,239 356,769 73,952 50,479 96,459 56,673 155,827 Government 83,821 8,008 25,224 3,763 9,^93 ^,608 1,621 3,668 8,681 4,717 5,033 1,734 7»27l Foreign "bank 15,041 l,04l 5,5^1 1,498 1,412 5>6 499 1,854 485 328 4l4 4i4 999 Special deposits: member bank 81,7^3 3,562 5,73^ 9,085 6,061 4,892 3,074 32,189 3,689 1,596 5,976 331 5,55^ nonmember bank 22,997 1,231 1,979 139 3,25^ 22S 7,645 6,723 876 163 759 Other deposits 49,487 4,817 12,078 234 3,624 5,617 3,030 6,605 3,347 2,058 323 1,197 6,557 Total deposits 2,521,817 181,446 962,627 143,906 i64,46i 95,281 62,691 408,730 96,877 60,054 108,368 60,3^9 176,967 Deferred availability items 403,886 43,681 99,890 30,160 39,678 3 M 94 9,879 50,244 18,818 10,940 24,576 15,163 21,563 Capital paid in 146,360 10,623 58,535 15,807 12,515 5,34i 4,879 13,070 4,027 2,866 4,251 3,888 10,558 Surplus 278,599 20,460 85,058 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 8,719 19,701 25,466 570 7,810 786 2,550 1,290 2,833 ^,367 1,011 1,227 579 822 1,621 All other liabilities 6,559,043 499,079 1,920,449 466,221 558,568 287,805 211,646 1,325,674 270,173 173,735 259,273 125,883 460,537 TOTAL LIABILITIES Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined(per cent) 68.4 79.^ 58.6 64.2 65.6 73> 70.7 78.3 72.5 63.9 71.3 57.6 71.? Contingent liability on bills purchased for foreign correspondents 35,761 2,619 11,871 3,767 3,551 1,399 1,255 ^,663 1,220 825 l,o4o 1,040 2,511 MATURITY DISTRIBUTION OF BILLS AKD SHORT TERM SECURITIES 91 deys to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 167,866 122,581 13,149 13,1^7 15,775 3,163 51 Bills bought in open market 13,19^ 6,573 1,880 3,053 1,683 Certificates and bills 868,973 40,825 15,205 167,445 293,689 216,534 135,275 Municipal warrants 2,157 2,037 10 38 22 50 * "Other cash" does not include F. R. notes cr a bank's cwn F. R. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JULY 12, 1933 B-801d (In thousands of dollars) Total Boston New York. Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal reserve notes: Issued to F.R.bank by F.R.agent 3,348,580 243,734 750,119 256,269 320,245 147,212 l4l,096 814,230 l49,9l4 94,196 122,032 37,4l3 272,120 Held by Federal reserve bank 281,518 19,050 94,110 16,099 14,372 7,229 22,769 34,835 11,022 3,722 9,772 2,302 46,236 In actual circulation 3,Oo7,062 224,684 656,009 240,170 305,873 139,983 118,327 779,395 138,892 90,474 112,260 35,111 225,884 Collateral held by agents as security for notes issued to bank: Gold and gold certificates 1,519,776 71,972 523,606 97,450 107,270 40,330 21,550 438,922 42,589 30,279 21,490 18,818 96,500 Gold fund - F. R. Board 1,265,935 171,017 79,100 90,550 115,500 79,505 77,000 328,000 86,700 37,500 82,800 7,500 110,763 Eligible paper 105,105 8,185 39,349 l4,44g 8,818 7,203 4,158 5,546 1,349 2,688 3,316 3,366 6,672 U.S. Gov't securities 499,200 — 109,000 55,000 90,000 15,000 42,000 50,000 20,000 25,200 17,000 9,000 67,000 Total collateral 3,390,0l6 251,174 751,055 257,449 321,588 151,038 144,708 822,468 150,638 95,667 124,606 38,684 280,941 FEDERAL RESERVE BANK NOTE STATEMENT ON JULY 12, 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.Bank(Outstanding) l4i,8l4 14,280 64,274 6,880 7,680 2,920 33,500 480 1,220 1,000 4,520 5,000 Held by Federal reserve bank 25,961 1,665 13,814 730 2,483 427 3,129 118 65 24 2,749 757 In actual circulation 115,353 12,615 50,460 6,150 5,197 2,493 30,371 362 1,155 976 1,831 4,243 Collateral pledged against outstanding notes: Discounted and purchased bills 2,825 1,723 70S 280 114 U.S. Govt, securities 164,274 20,000 64~274 8,000 10,000 3,000 4o,000 5,000 2,000 1,000 6,000 5,000 Total collateral 167,099 20,000 64,274 8,000 11,723 — 3,708 4o,000 5,280 2,000 1,000 6,ll4 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis