H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STAmanara ior the press Released for publication B-801 jTriday morning, Sept. 1; Federal Reserve Board not earlier. August 31 1933• f CONDITION OF F3D3RAL RESERVE EA*T£S Tiie daily average volume of Federal Reserve bank credit outstanding during the week ended August 30 as reported by the Federal Reserve banks, was $2,267,000,000, t an increase of $2^,000,000 compared with the preceding week and a decrease of $64,000,000 compared with the corresponding week in-1932, On August 30 total Reserve bank credit amounted to $2,298,000,000, an increase of $^0,000,000 for the week. TL.is increase corresponds with an increase of $26 ,000,000 in unexpended capital funds, nonniember deposits, etc., and a decrease of $19»0-X),000 in Treasury currency, adjusted, offset in -part by a decrease of $5,000,000 in member bank reserve balances. Bills discounted increased $3,000,000 at the Federal Reserve Bank of Hew York and a like amount at all Federal Reserve banks. ®ie System!s holdings of bills bought in open market show practically no change for the we(3k. Holdings of United States Treasury notes iticreased $12,000,0jj and of Troasury certificates and bills $2^,000,0J0, while those of United States bonds decreased $1,000,000. Changes in the amount of Reserve baak credit outstanding and in related items during the week and the year ended August 30» 1933> were as follows: Increase or decrease since Aug. 30 Aug 23 Aug. 31 # .1213™ 1933 , (In millions of dollars) Bills discounted 153 + 3 280 Bills bought 7 - 27 U. S. Government securities 2,129 +35 + 277 Other reserve hank credit 9 + 2 1- 3 TOTAL 3SSSHVE BATIK CREDIT 2,298 33 Monetary gold stock U, 32S — 2^0 Treasury currency adjusted 1,9^2 -19 + 142 Money in. circulation -5,592 • - 100 Member batik reserve balances 2,427 - 5 2S1 Unexpended capital funds,noiuaember deposits,esc. 5^9 +26 + l6S Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Sept. 1,1333'. not earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BiMS COMBINED (In thousands of dollars) 1 Aag, mi Aug. 51,1932 A S S E TS Gold with Federal Reserve agents • . . 2,779,519 2,779,984 2,081,761 # Gold redemption fund with U*S*Treasury 35,633 36>277 57»668 # Gold held exclusively against F«B.» notes 2,815,152 2,8l6,26l 2,139,429 Gold settlement fund mth F R Board . 531,788 53° 103 273t1+S6 # t # f Gold and gold certificates held by banks 241,057 243,116 360,046 Total gold reserves 3,587,997 3,539*^0 2,772,961 Other cash* . . . • 239,933 243,577 281,821 Total ftp Id reserves and other cash 3,827,930 3,833,057 3,054,782 # Redemption fund - F. R bank notes . 8,200' 8,451 # # Bills discounted: 36,026 See. by U.S.. Government obligations . 38,217 157*5^5 Other bills discounted . 115,003 114,119 275?211 # Total bills discounted 153,220 150,145 432,756 Bills bought in open market . . . . .. 6,900 7*35° 3^*°9S U. S. Government securities: Bonds W+l 6S7 442,903 420,988 t Treasury notes 860,945 84^,506 395i97^ Certificates and bills 826,140 802,605 1>034,753 Total U.S.Government securities 2,128,772 2,094,014 1,851,715 Other securities . . . . . 1,854 1,854 5%915 Total bills and securities . . . 2,290,746 2,253,363 2,324,484 Due from foreign bonks . . . . . . .. 3,710 3,7^0 2,668 F. R notes of other banks . . . . .. l4,91o 18,667 15,082 # Uncollected items 343,469 349,018 312,272 Bank premises . . 54[455 54,454 58,121 # All other assets . . . . . 52,013 51,206 47,613 6,595,439 6,571,956 5,S15,022 TOTAI ASSETS L I A B I L I T I ES F. R. notes in actual circulation . . . 2,974,180 2,984,978 2,814,020 F. R. bank notes in actual circulation 131,244 129,296 Deposits: Member bank - reserve account . . . . 2,426,589 2,431,915 2,146,183 67,988 Government %,173 59,^29 Foreign bank 39,702 21,538 14,187 Special deposits - member bank . . . 74,310 76,511 nonmember bank . 18,436 19533° Other deposits 69,934 57,871 21,485 2,697,039 2,656,338 Total deposits 2,241,284 Deferred availability items 339,6o4 348,045 308,796 Capital paid in l46,l47 146,187 153*099 Surplus 278,599 278,599 259^21 All other liabilities . . 28,626 28,513 38,402 # TOTAL LIABILITIES 6,595,439 6,571,956 5,215,022 &atio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 67,5$ 67.9$ 60.4$ Contingent liability on bills purchased for foreign correspondents 39,099 39f096 49,043 * "Other cash" does not include F. R* notes or a bank's 0m. F.R.bank notes # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OP THE FEDERAL RESERVE BAMS ON AUGUST 30, 1933 A S S E TS (In thousands of dollars) B-SOlb Total Boston Hew York Phila. Cleve. Hick. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve agents 2,779,519 231,156 661,706 183,000 227,770 121,130 95,500 757,292 113,609 68,789 104,290 27,014 188,263 Gold redemption fund with U.S.Treas. 35,633 1,321 6,812 3,559 4,674 1,336 2,392 3,279 1.240 1,715 1.385 1.079 6,84l Gold held exclusively against F. R. notes 2,815,152 232,477 668,518 186,559 232,444 122,466 97,892 760,571 114,849 70,504 105,675 28,093 195,104 Gold settlement fund with F.R.Board 531,738 is,o4i 179,473 16,266 33,354- 27,627 13,476 129,929 23,807 19,794 21,987 13,565 29,469 Gold and gold certif. held by banks 241,057 21,409 142,995 1^925 4,085 1.379 3,614 7,783 753 240 12,760 5,263 25,781 Total gold reserves 3,587,997 271,927 990,986 217,820 274,883 151,472 114,982 898,283 139,409 90,538 140,422 46,921 250,354 Other cash* 239,933 18,269 66,133 27,491 22,427 11,418 11,647 30,942 10,775 5,359 10,298 7,640 17,484 Total gold reserves & other cash 3,827,930 290,196 1,057,169 245,311 297,310 162,890 126,629 929,225 150,184 95,897 150,720 54,561 267,838 Redemption fund - F.R.bank notes 8,200 792 2,73b 385 500 — 103 2,710 93 97 47 491 241 Bills discounted: Secured by TJ.S.Govt, obligations 38,217 2,697 16,516 5,366 3,53b 2,553 , 356 1,969 1,038 95 44l 251 2,936 Other tills discounted 115,003 4,317 29,550 25,277 7,779 10,074 6,066 6,495 2,147 3,814 3,892 3,984 11,608 Total bills discounted 153,220 7,014 46,066 30,64^ 11,778 12,627 6,422 8,464 3,185 3,909 4,333 4,235 14,544 Bills bought in open market 6,900 436 2,303 627 58 6 231 207 777 167 113 172 172 1,109 U.S.Government securities: Bonds 441,687 22,751 176,829 28,952 33,569 11,182 10,570 72,25^ 14,375 16,712 12,423 16,930 25,140 Treasury notes 860,9^5 53,929 310,854 62,653 82,103 27,35^ 25,75^ 134,670 33,932 22,036 29,208 16,958 61,494 Certificates and bills 826,140 50,244 286,470 58,340 76,492 25,4-85 23,995 152,665 31,613 20,530 27,213 15,799 57,294 Total U.S.Govt, securities 2,128,772 126,924 774,153 149,9^5 192,164 64,021 60,319 359,589 79,920 59,278 65,844 49,687 143,92s Other securities 1,854 — 1,252 510 —- — — 50 42 —— Total bills and securities 2,290,746 134,374 823,77* 181,725 204,528 76,879 66,948 368,880 83,272 63,3^2 73,349 54,094 159,581 Due from foreign banks 3,710 30s 1,151 443 399 157 l4l 548 28 19 117 117 2S2 F. R. notes of other banZts 14,916 3SH 4,520 447 984 938 911 3,236 634 ,382 1,042 336 1,098 Uncollected items 343,469 41,221 86,394 28,869 32,816 30,079 10,465 44,960 14,051 9,072 17,17s 12,S6l 15,503 Bank premises 54,45s 3,280 12,815 3,531 6,929 3,238 2,422 7,609 3,285 1,74-7 3,559 1,733 4-, 244 All other assets 52,013 722 27,843 4,012 2,542 319,73 4,525 1,826 606 l,-357 2,054 l,4o6 l.iin TOTAL ASSETS 6,595,439 471,281 2,0l6,4ll 464,723 546,008 278,154 212,144 1,358,994 252,158 171,913 24s,066 125,659 449,928 * "Other cash" does not include F. H. notes or a bank's 0va. F. R. "bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSIES AHD LIABILITIES OF THE FEDERAL RESERVE BAMS OIT AUGUST 30, 1933 L I A B I L I T I ES (in thousands of dollars) B~S01c Total Boston New York Phila. CIeve. Rich, Atlanta Chicago St,Louis Minn. Kar-S.Cy,, Dallas San Fran, notes in actual circulation 2,97^,ISO 222,166 636,U53 236,619 299,101; 137,25s 117,600 7*15.924 132,701 90,313 10s,285 32,018 214,639 F.R."bsn>: notes in actual circulation 131,2^4- 12,72^ 53,87s 7,505 9,563 — 1,922 31,725 580 1,554 965 6,819 4,009 Deposits: Member bank - reserve account 2,42b,539 151,831 1,027,165 127,459 iui+,356 70,S71 5533,,SSii++ll 11++2200,,992299 7711,,662277 51,022 110022,,''558844 53,277 151,577 Government £>7,932 4,020 20,272 3,iss 3,882 9,067 2,877 6,271 3,625 4,439 2,296 2,560 5,491 Foreign "bank 39,732 2,915 13,158 4,193 3,953 1,557 1,393 5,191 1,35S 91S 1,153 1,153 2,795 Special deposits: member "bank 7^,310 1,930 6,129 10,776 6,260 4,284 2,219 28,741 4,467 1,573 2,153 28'7 5,486 nonmemb er "bank 12,^36 — 797 1,667 ISO 2,914 IS 7 7,327 3,733 567 155 — 859 Other deposits 69,934 3,030 22,49s 493 2,576 4.437 4,132 11.751+ 3,154 995 253 639 15,976 Total deposits 2,697,039 163,776 1,090,01+6 ll+7,77o 161,207 93,130 460,213 86,014 59,519 103,599 57,921 182,184 Deferred availability items 339.60U 40,71+9 Si,549 26,S4S 32,757 29,521+ 9,635 44,564 15,652 9,063 16,942 15,166 17,045 Capital paid in lU6,l^7 10,749 58,525 15,743 12,377 5,016 4,922 13,274 4,009 2,373 4,223 3,736 10,695 Surplus 273,599 20,460 85,058 29,21+2 2S, 29I+ 11,616 10,544 39,497 10,136 7,019 8,263 3,719 19,701 All other liabilities 22,626 657 10,902 9S5 2,706 950 2,317 3,797 1,016 1,072 7S9 1,280 1,655 TOTAL LIABILITIES 6,595^39 471,221 2,016,411 1+64,723 546,00S 273,154 212,144 1,353,994 252,15s 171,913 24S,066 125,659 449,923 Ratio of total gold reserves and other cash* to deposit and P.H. note, liabilities combined 75.2 61.2 63.S 54.6 70.5 °9.5 75.2 6S.0 63.s 69.5 60.7 67.5 Contingent liability on bills purchased for foreign correspondents 33,099 2,S5U 13,062 4,105 3,870 1,525 1,36s 5,082 1,329 399 1,134 1,134 2,737 MATURITY DISTRIKJ TIOH OF BILLS .41133 SHORT TERM SECURITIES 91 days to Total Within 1? days l6 to 30 days 31 to bO days 6l to 90 days Over 6 months 6 months Bills discounted 153,220 118,190 11,150 12,840 9,768 1,219 53 Bills "bought in open ;narl:et 6,900 1.756 2,552 1,1+95 1,097 Certificates and Dills S2o,l40 19,500 190,031 110,913 97,867 252,979 154,850 Municipal warrants 1,854 1,739 23 92 * "Other cash" does not include F. R. notes or a "bank's om F. R. "bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OIT AUGUST 30, 1933 (In thousands of dollars) B-SOid Total Boston New York Phi la, CI eve. Rich. Atlanta Chicago St .Louis llinn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.hank by F.R,Agent 3,244,977 245,845 721,253 251,020 315,735 145,169 lUo,l79 77s,isi 142,329 93,802 117,70S 34,861 258,290 Held "by Federal Reserve "bank 270,797 23,679 S5,iK)5 14,1+01 16,631 7,3H 32,257 9,62s 2,9S9 i,423 2,843 43,651 In actual circulation 2,974,120 222,166 636,453 236,619 299,104 137,858 117,600 745,924 132,701 90,813 108,285 32,018 214,639 Collateral held by agent as security for notes issued to bank- • Gold and gold certificates "1,524,784 73,339 523,606 97,^50 107,270 51,625 21,500 439,292 42,909 29,789 21,490 19,014 97,500 Gold fund - F. H. Board 1,254,735 157,317 138,100 85,550 120,500 69,505 74,000 318,000 70,700 39,000 82,800 8,000 90,763 Eligible paper 98,143 4,120 30,442 14,042 10,023 7,300 4,390 3,735 2,309 2,005 2,930 3,965 12,882 U.S.Govt. securities 437,700 12,000 65,000 56,000 35,000 20,000 42,000 20,000 27,000 25,200 15,000 5,500 65,000 Total collateral 3,315,362 247,276 757,1-1-3 253,042 322,793 148,430 141,390 731,027 142,918 95,95^ 122,220 36,479 266,145 FEDERAL RESERVE BA1TK HOTS STA2Elv!iE17T ON AUGUST 30, 1933 (In thousands of dollars) Total Boston New York phila. Cleve, Rich, Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran, Federal Heserve bank notes Issued to F.B # Bank( outstanding) 152,928 14,672 63,510 7,64s 11,960 — 2,123 33,330 71s 1,617 988 12,121 4,241 Held by Federal Reserve bank 21,684 1,9^8 9,632 1*3 2,397 — 201 1,605 13s 63 23 5,302 232 In actual circulation 131,244 12,724 53,278 7,505 9,563 — 1,922 31,725 580 1,55*+ 965 6,819 4,009 Collateral pledged against outstanding notes: Discounted axid purchased bills 2,353 — — -- 1,607 — 258' — 375 — — 113 — U.S.Govt, securities 176.274 20.000 64,274 8.000 1^.000 3.000 4o.ooo •S.000 2.000 1.000 13.000 ^.000 Total collateral 173,627 20,000 64,274 8,000 16,607 3,258 40,000 5,375 2,000 1,000 13,113 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis