H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SIATEiaSHI FOR THE PRESS Released for publication B-SOl Friday morning, July 21; Federal Reserve Board not earlier* July 20, 1933 C01TDITI0U 0? FEDERAL RESERVE BAtTKS The daily average volume of Federal reserve bank credit outstanding during the week ending July 19, as reported by the Federal reserve banks, was $2,196,000,QQO, a decrease of $34,000,000 compared with the preceding week and Of $2^2,000,000 compared with the corresponding week in. 193.2. On July 19 total reserve bank credit amounted to $2,197,000,000, a decrease of $4,000,000 for the week. This decrease corresponds with a decrease of $32,000,000 in money in circulation and an increase of $17,000,000 in Treasury currency adjus4cd t offset in part by increases of $21,000,000 in member bank reserv ebalances and $24 ,000,000 in une>5>ended capital funds, nonmember deposits, etc. Bills discounted decreased $5,000,000 at the Federal Reserve Bank of Hew York and at all Federal reserve banks. The System's holdings of bills bought in open market declined $3,000,000, while holdings of Treasury notes increased $9,000,000 and of Treasury certificates and bills $1,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 19, 1933* were as follows: Increase or decrease since July 19 July 12 July 20 1?33 1933 1932 (In millions of dollars) Bills discounted 163 - 5 - 375 Bills bought 10 - 3 - TJ S Government securities 2,017 + 10 + 1S1 # # Other reserve bank credit 7 - 6 - 5 TOTAL RESERVE BAM CREDIT 2,197 - b _ 2U1 Monetary gold stock U.319 — + 367 Treasury currency adjusted 1,9^7 + 17 + 177 Money in circulation 5,635 - 32 - 100 Member bank fe serve balances 2,290 + 21 + 25H Unexpended capital funds,nonmember deposits, etc., 53S + 2k + 1^9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 21,1933'» 110^ earlier, B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) July 19,1933 July 12,1933 July 20,1932 ASSETS Gold with Federal reserve agents . . . 2,772,1*12 2,725.711 1,95^,312 Gold redemption fund with U.S.Treasury ^3,273 1*3,61*3 63,622 Gold held exclusively against F.R.notes 2,815,685 2, S29,35*+ 2,017,9*10 Gold settlement fund with F.R. Board . 515,ll*2 502,90!* 21*5,086 Gold and gold certificates held by banks 215,052 207,521* 31*5,236 Total gold reserves . . . . .. 3,51*5,81*2 2,602,862 3,5^,279 Other cash* . . . . .. . . . . . .. 271,9H9 278,061 275,29H Total gold reserves and other cash 3,217,228 3,223,903 2,22U,156 Redemption fund - F. R. bank notes . 8, Oil* 7,792 — Bills discounted: Sec. by U.S.Government obligations . 35,726 39,1*50 213,130 Other bills discounted . 128,1*16 324,1+35 127,3^3 Total bills discounted 163,129 167,866 537,565 Bills bought in open market 9,8U8 13,19^ 51.902 U. S. Government securities: Bonds 1*1*0,813 1+1*0,776 1+20,890 Treasury notes 706,323 697,1*81* 262,551 Certificates and bills . 870,061 268,973 1,11+6,731* Total U.S. Government securities 2,017,257 2,007,233 1,236,175 Other securities 2,026 2,157 5,727 Total bills and securities . . 2,192,260 2,190,1*50 2,^31,^29 Due from foreign banks . 3,967 3,952 2,712 F. R. notes of other banks 19,095 17,0ll* 18,1*82 Uncollected items 1*19,281* 1*10,326 350,329 Bank premises 5^,369 5^,367 52,115 All other assets 50,772 50,951 1*8,029 TOTAL ASSETS 6,565,379 6,559,01*3 5,793,312 L I A B I L I T I ES F. R. notes in actual circulation . , 3,067,062 2,261,91*8 3,037.508 F. R. bank notes in actual circulation 112,137 115,253 Deposits: Member bank - reserve account . . 2,289,811 2,268,728 2,035,517 Government . . . . . .. 57,995 83,221 54,03'* Foreign bank . . . . . . .. ... 16,207 15,01*1 11.^23 Special deposits - member bank . . 85,920 21,7^3 nonmember bank 22,997 22,681 Other deposits 31*, 1*61 fo, 225 Total deposits . . . . .. 2,5^1.239 2,521,217 2,135,^35 Deferred availability items . . .. 418,1*02 1*03,886 31*6,896 Capital paid in ll*6,180 11*6,360 15M13 Surplus . . . . . .. 272,599 272,599 259,1*21 All other liabilities . 2^,714 25,^66 35?^39 TOTAL LIABILITIES . . 6,565,379 6,559,01*3 5,793,312 Ratio of total gold reserves and other cash* to deposit and F.R.note liabilities combined . . . . . . . . .. 68.1$ 68.1$ 57.7$ Contingent liability on bills purchased for foreign correspondents . . . .. 35,691* 35,761 65,735 * "Other cash" does not include F. R,n otes or a bank*s own F.R, bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AUD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 19, 1933 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,772,412 21+2,989 6l4,706 184,000 222,770 128,835 96,550 755,822 125,39^ 67,779 106,290 25,014 202,263 Gold redemption fund with U.S.Treas. 43,273 4,622 8,396 4,017 5,183 1,-226 2,744 4,064 1,089 1,897 1,552 1,152 7,331 Gold held exclusively against F. R. notes 2,815,685 2*47,611 623,102 188,017 227,953 130,061 99,294 759,886 126,433 69,676 107,842 26,166 209,594 Gold settlement fund with F.R.Board 515,142 29,874 1^,982 22,285 5^525 17,700 9,3*19 137,067 26,765 19.917 24,156 13,922 9,600 Gold and gold certif. held "by banks 215,052 22,028 108,179 14,610 4,222 H,764 3,822 7,176 6s6 385 12,572 5,226 31,382 Total gold reserves 3,5^5,879 299,513 881,263 224,912 286,700 152,525 112,465 904,129 153,93*+ 89,978 144,570 45,31*+ 250,576 Other cash* 271,9^9 18,801 84,389 26, £(64 23,580 1^,57^ 13,^99 35,013 11,907 *+,780 10,619 8,23s 19,685 Total gold reserves & other cash 3,817,828 318,31k 965,652 251,776 310,280 167,099 125,964 939,142 165,841 94,758 155,189 53,552 270,261 Redemption fund -F.R. bank notes 7,798 1,000 3,253 390 328 — 220 1,908 100 100 50 199 250 Bills discounted: Secured by U.S. Govt, obligations 35,786 1,965 16, too 5,886 3.257 1,989 257 1,089 467 99 79*+ 457 3,126 Other bills discounted 127,3U3 5,866 32,163 27,435 7,787 11,951 8,359 10,966 l,64l 4,4oo 6,776 3,507 6M2 Total bills discounted 163,129 7,831 48,563 33,321 ll,o44 13,9^0 8,616 12,055 2,108 4,499 7,570 3,964 9,618 Bills bought in open market 9,848 522 4,212 750 702 276 248 929 207 i4o 206 305 1,351 U. S. Government securities: 3onds 440,813 21,852 180,248 29,615 3^.295 10,880 10,484 67,73*+ l*+,330 16,771 11,93*+ 17,237 25,^33 Treasury notes 706,383 42,772 264,943 53,122 69,358 22,003 21,121 96,546 27,975 18,67s 23,791 14,633 51,441 Certificates and bills 870,061 50,151 309,725 62.287 81,323 25,800 24.765 155,940 32,802 21,901 27,896 17,155 60,316 Total U.S. Govt, securities 2,017,257 11^,775 754,916 145,024 184,976 58,683 56,370 320,220 75,107 57,350 63,621 49,025 137,190 Other securities 2,026 — 1,437 510 — — — 50 — 29 — — — Total bills and securities 2,192,260 123,128 809,128 179,605 196,722 72,899 65,234 333,25*+ 77,*+22 62,018 71,397 53,29*+ 148,159 Due from foreign banks 3.967 286 1,610 4ll 369 145 131 508 18 12 108 108 261 F. R. notes of other banks 19,095 353 5,97^ 364 1,184 1,177 1,008 3,6148 1,089 542 1.335 284 2,137 Uncollected items 419,284 50,888 110,337 32,637 >+2,671 33,256 11,442 54,002 15,985 11.431 24,07s 13,810 18,747 Bank premises 54,369 3,280 12,818 6,929 3,238 2,422 7,607 3,285 1,747 3.559 1.792 4,244 All other assets 50,77s 928 25,503 3,686 4,s6s 3,765 ^,757 1,909 5*+9 1,494 759 l,3*+3 1,215 TOTAL ASSETS . 6,565,379 498,177 l,93*+,275 ^72,319 563,351 281,579 211,178 1,3^1,978 264,289 172,102 256,^75 124,382 445,274 * "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

. . . . . A ND LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 19, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Bo ston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. F.R.notes in actual circulation 3,037,508 223,1+1+5 650,073 238,233 302,913 13S.272 117,286 770,623 13s,5^7 90,203 Lll.793 3^,579 221,5^1 F.R.bank notes in actual circulation 118,137 12,120 51,230 6,51+6 5,899 — 2,394 30,328 391 1,251 979 2,253 ^,196 Deposits: Member bank - reserve account 2,289,811 166,5% 913,357 133,803 11+3,382 7^,699 55.,3^7 37^.503 7711,,0011++55 51,^35 95,1+56 5^,669 150,066 Government 57,995 3,060 17,992 3,195 9,^73 2,976 235 3,61^ 6,91^ 1,966 3.936 2,797 1.837 Foreign bank 16,207 1.165 5.581 1,675 1,580 622 558 2,07l+ 5l+2 367 U63 U63 1,117 Special deposits: member bank 85.920 ^,099 6,031+ 9,359 6,028 5,169 3,151 33,9^ 3,733 1,563 6,73*+ 379 5,725 nonmember bank 22,681 1,231 2,051+ 139 3,61+1+ 25I+ 7.521+ 6,181+ 783 1U2 — 726 Other deposits 69,225 i+,996 TL.H02 197 ,3,732 3.206 6,725 3.357 1.839 252 396 7,608 Total deposits 2,51+1,839 17.9,866 976,097 150,283 169,331+ 92,625 62,751 1+28,326 91.77s 57.953 106,983 58.70*+ 167.079 Deferred availability items 1+18,402 51.135 105,327 31,1+35 1+2,210 32,91+0 10,1+77 5^,977 18,1+92 11,519 23.7^1 15,558 20,591 Coital paid in li+6,lS0 10,7^5 58,535 15,807 12,157 5,31+8 i+,920 13,081 i+,oi9 2,866 1+,251 3.890 10,561 Surplus 278,599 20,1+60 85,058 29,21+2 23,291+ n,6i6 10,51+1+ 39,1+97 10,136 7,019 8,263 8,719 19,701 All Other liabilities 2*+.7ll+ 1+06 7 .305 773 2.5*+l+ 778 2.806 1+.586 876 1,291 H65 679 1,605 TOTAL LIABILITIES 6,565,379 1+98,177 1,931+, 275 1+72,319 563,351 281,579 211,178 1,31+1,978 26I+, 2S9 172,102 256,1+75 I2l+,3S2 1+1+5,271+ Eatio of total gold reserves and other cash* to deposit and F.R, note liabilities combined 68.1+ 78.9 59.1+ 6H.S 65.7 72.1+ 70.0 7S.3 72.0 61+.0 7O.9 57.1+ 69.5 Contingent liability on bills purchased for foreign correspondents 35,69!+ 2,619 11,803 3,767 3,551 1,399 1,256 l+,663 1,220 ,825 1,01+0 1,0*10 2,511 MATURITY DISTRIBUTION OF 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 163,129 118,31+2 13.027 15,127 lU.100 2,^83 50 Bills bought in open market 9.S&8 3,^76 2.233 3,020 1,119 Certificates and bills 370,061 31+.500 113,61A+ 270,575 103,313 203,829 jl+l+, 200 Municipal warrants, 2,026 1.397 33 22 69 * -"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 JULY 19, 1933 (In thousands of dollars) B-SOld Total Boston New York pliila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal reserve notes: Issued to F.R.barik "by F.R.Agent 3,312,994 21+3,630 735*756 254,378 317,09U 145,694 ll+0,313 803,900 11+9,759 93,372 121,326 36,787 270,985 Held "by Federal reserve tank 275.486 20.185 85.683 16.H+5 14.181 7,422 23,027 33 . 277 11.212 3.169 9.5^5 2.208 1+9,1+1+1+ In actual circulation 3,037,508 223,1+1+5 650,073 238,233 302,913 138,272 117,286 770,623 138,5^7 90,203 111,793 34,579 221,51+1 Collateral held by agents as security for notes issued to "bank: Geld and gold certificates 1,513,977 71,972 523,606 97,1+50 107,270 1+9,330 21,550 1+37,822 1+2,691+ 30,279 21,1+90 19,011+ 91,500 Gold fund - F. R. Board 1,258,1+35 171,017 91,100 86,550 115,500 79,505 75,ooo 318,000 82,700 37,500 8l+,S00 6,000 110,763 Eligible paper 97,295 7,567 31,299 1^,570 9,21+1 7,306 1+,719 5,113 1,205 2,583 3,005 3,577 7,110 U.S.Gov't, securities 1+85,200 90,000 58,000 90,000 15,000 1+2,000 50,000 21+,000 25,200 15,000 9,000 67,000 Total collateral 3,35^,907 250,556 736,005 256,570 322,011 151,141 143,269 810,935 150,599 95,562 124,295 37,591 276,373 FEDERAL RESERVE BAM NOTE. STATEMENT ON JULY 19, 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) 144,742 14,175 64,027 7,798 9,988 — 2,490 33,408 480 1,300 997 5,829 4,250 Held by Federal reserve bank 26,605 2,055 12,747 1,252 4,089 — 96. 2,580 89 49 18 3,576 54 In actual circulation 118,137 12,12c 51,280 6,546 5,899 — 2,394 30,828 391 1,251 979 2,253 4,196 Collateral pledged against outstanding notes: Discounted and purchased bills 2,887 — — — 1,693 — 613 -- 267 - — 314 U.S.Govt, securities 164.274 20.000 64.274 8,000 10,000 — 3,000 40,000 5,000 2,000 1,000 6,000 5,000 Total collateral 167,161 20,000 64,274 8,000 11,693 3,613 40,000 5,267 2,000 1,000 6,314 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis