H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PHESS Released for publication B-SOl Friday morning, Sept* g; Federal Reserve Board not earlier* September 7» 1933* CONDITION OF FEDERAL RESERVE BAMS The daily average vol-ume of Federal Reserve bank credit outstanding during the week ended September. 6* as reported by the Federal Reserve banks, was $2,3$+*000,000 an increase of. $37-*000,000 compared with the preceding week and a decrease of $26,000,000 compared with, the corresponding week in 1932. On September 6 total Reserve bank credit amounted to $2,330*000,000, an increase of $32,000,000 for the week. This increase corresponds with increases of $56,000,000 in money in circulation and $12,000,000 in member bank reserve balances, offset in part by an increase of $11,000,000 in Treasury currency, adjusted, and a decrease of $25,000,000 in unexpended capital funds, nonmember deposits, etc* Bills discounted decreased $3,000,000 at the Federal Reserve Bank of San Francisco, $2,000,000 each at Boston, Hew York and Philadelphia and $8,000,000 at all Federal Reserve banks. The System1 s holdings of bills bought in open market and of United States bonds show practically no change for the week. Holdings of United States Treasury notes increased $lU,000,000 and of Treasury certificates and bills $23,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 6 1933, were as fallows: f Increase or decrease since Sept. 6 Aug. 30 Sept. 7 1933 1933 1932 (In millions of dollars) Bills discounted 1^5 - g - 275 Bills bought 7 — - 27 U. S. Government securities 2,166 +37 •f 315 Other reserve bank credit 12 + 3 - 2 TOTAL RESERVE BANK CREDIT 2,330 +32 + 11 Monetary gold stock 11,329 + 1 22^ Treasury currency adjusted 1,953 +11 13U Uoney in circulation 5,648 +56 — 77 Member bank reserve balances 2,^39 +12 + 297 Unexpended capital funds,nonmember deposits,etc,. 524 -25 + 1*7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday '.lorning, Sept. S, 1933> earlier. B-SOla ASSETS MTD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS C0M3I1TED (in thousands of dollars) Sept, 6,1933 Au£. 30,1933 Sept. 7,1932 A S S E TS Gold with Federal Reserve agents . . . . 2,7^,851 2,779,519 2,038,557 Gold redemption fund with U.S*Treasury . 35.913 35,633 57,07* Gold held exclusively against F.R.notes 2,7SU,761+ 2,315,152 2,11+5,635 Gold settlement fund with F. R. Board # 561,S3U 531,733 262,556 Gold and gold certificates held "by "banks ^Mi^SL 386,382 2Ul,7S3 Total gold reserves . . . 3,533,331 3,537,997 2,79^,573 Other cash* . . Yl Q 270,8^2 221,13b Total gold reserves and other cash 3,827,930 3,065,^15 3,309,517 Redemption fund - 3F. R, bank notes S.22U 3,200 Bills discounted: Sec. by U.S.Government obligations 37,70^ 33,217 152,137 Other bills discounted . . . .. 107,039 115,003 268,291 Total bills discounted . 1^,793 153,220 U20.U28 Bills bought in open market . . .. 6,97^ 6,900 33,585 U* S* Government securities: Bonds ^1+1,637 ^20,772 Treasury notes . . . . . . . .. 37M46 36O,91+5 399,799 Certificates and bills . . . .. 3^9,5^0 826,1U0 1,030,352 Total U«S.Government securities 2,166,371 2,128,772 1,850,923 Other securities . . . . . . .. 5 IM Total bills and securities 2,320,077 2,290,7^6 2,310,650 Due from foreign "banks 3.713 3,710 2,659 F. R. notes of other banks . . . < 15,290 1^,916 13,305 Uncollected items . . 376,616 3'43,U69 330,^25 Bank premises 54,541 5^55 58,121 All other assets # . . . » • • 52,952 52,013 Us,055 TOTAL ASSETS . . .. 6,6Uo,930 6,595,^39 5,828,630 L I A B I L I T I ES F. fi, notes in actual circulation . . . 3,010,9*49 2.97M80 2,831,7'49 F, R. "bank notes in actual circulation 132,637 131,2^ Deposits: Member bank - reserve account . . .. 2,^39,393 2,1^1,655 2,1+26,539 Government 55,695 67,953 ^7,295 Foreign bank 32,033 39,732 11,079 Special deposits - member bank . 75,703 7^310 nonmernber ba i: 17,036 18,^36 Other deposits 20,127 53,135 69>93^ Total deposits . . 2,673,0^5 2,697,039 2,220,156 Deferred availability items . . . 370,531 339,604 32M95 Capital paid in 1^6,030 IH6,IU7 153,09k Surplus 273,599 273,599 259,^21 All other liabilities 29,039 28,626 39,71? TOTAL LIABILITIES . . 6,6*10,930 6,595,^39 5,328,630 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined . . . . . .. 67.0fo 67.! 60.7$ Contingent liability on bills purchased for foreign correspondents . . . .. Ui,U02 39,099 ^,973 * "Other cash" does not include R, notes or a bank's own F.R.bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS ON SEPTEMBER 6, 1933 A S S E TS (In thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Milan. Kans.Cy. Dallas San Fran, Gold with Federal Reserve agents 2,748,851 228,156 646,706 185,000 222,770 121,130 96,400 752,567 111,766 69,789 99»290 27,014 188,263 Gold redemption fund with U.S.Treas. 35,913 1,297 6,704 3.517 4,547 1>502 2,371 3,246 1,731 1.710 1,379 1*076 6,833 Gold held exclusively against F. R. notes 2,784,764 229,453 653,410 18^,517 227,317 122,632 98,771 755,813 113,497 71,499 100,669 28,090 195,096 Gold settlement fund with F.R.Board 561,834 18,607 191,179 18,771 38,753 26,550 12,613 137,611 25,622 19,913 28,144 16,580 27,491 Gold and gold certif. held by banks 241,783 21,500 143,546 .15,102 4,222 1,382 3,663 7,686 61* 282 12,641 5,252 25,863 Total gold reserves 3,588,381 269,560 988,135 222,390 270,292 150,564 115,047 901,110 139.763 91,694 141,454 49,922 248,450 Other cash* 221,136 16,310 62,083 25,993 20,939 10,676 9,811 29,987 9,671 4,889 8,478 6,250 15,999 Total gold reserves & other cash 3.809.517 285.870 1.050.218 248,381 291,281 l6l f 240 124,858 931,097 149,434 96,583 149,932 .56,172 264,449 Redemption fund - F.R.bank notes 8,224 753 2,736 380 600 103 2,575 98 97 50 591 241 Bills discounted: Secured by U.S.Govt, obligations 1 37,704 1,764 15,290 4,570 4,744 2,035 806 1,692 1,024 96 454 731 4,498 Other bills discounted 107,089 3,469 28,474 24,298 7,768 9,690 6,44s 6,438 1,874 3,707 3,804 3,951 7,16s Total bills discounted 144,793 5,233 43,764 28,868 12,512 11,725 7,254 8,130 2,898 3,803 4,25s 4,682 11,666 Bills bo'oght in open market 6,974 451 2,183 649 606 239 214 8O3 174 117 177 251 1,110 U.S.Government securities: Bonds 441,985 23,149 174,771 28,815 33,386 11,336 10,624 73,939 14,412 16,492 13,027 16,858 25,176 Treasury notes 874,346 55,834 310,454 63,376 83,051 28,203 26,382 141,005 34,601 22,300 29,962 17,054 62,624 Certificates and bills 849,540 52,719 289,576 55,811 78,418 26,632 24,908 160,233 32,669 21,056 28,289 16,100 59,129 Total U.S.Govt. securities 2,166,371 131,702 774,801 152,002 194,855 66,171 61,914 375.177 81,682 59,84s 71,2/8 50,012 146,929 Other securities 1,935 — 1,337 510 — — — 50 — 42 — — — Total bills and securities 2,320,077 137,386 822,085 132,029 207,973 78,135 69,382 334,160 84,754 63,810 75,713 54,945 159,705 Dae fronj foreign banks 3,713 284 1,369 409 367 145 130 506 17 12 107 107 260 F. R. notes of other banks 15,290 304 4,856 365 831 855 707 2,975 1,044 621 1,254 172 1,306 Uncollected items 376,616 42,304 90,272 29,724 36,846 34,450 13,366 46,495 17,703 10,874 22,9S9 15,05s 16,535 Bank premises 54,541 3,280 12,818 3,61s 6,929 3,237 2,422 7,609 3.285 1,747 3,559 1,793 4,244 All other assets 52,952 733 28,882 4,006 2,537 3,928 4,499 1,844 61s 1,340 1,999 1,426 l,l4o TOTAL ASSETS 6,640,930 470,914 2,013,236 4Ss,9i4 5^7,36** 281,990 215,467 1,377,261 256,953 175,084 255,603 130,264 447,880 * "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

ASSETS AED LIABILITIES OF THE FEDERAL EE SERVE BALKS Oil SEPTEMBER 6, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve, Bich. Atlanta Chicago St .Loui 3 Minn. Kans.Cy. Dallas San Fran. F # R.notes in actual circulation 3,010,949 224,795 6^9,323 233,193 299,933 139,360 113,259 751,629 134,033 93,410 109,859 31,748 220,357 F.R.banlc notes in actual circulation 132,687 12,929 52,305 7,393 9,960 1,370 31,520 647 l,64o 975 8,899 4,049 Deposits: Member bank - reserve account 2,439,393 150,928 1,016,671 123,410 142,755 71,775 55,312 435,991 72,234 52,038 104,040 56,947 152,292 Government 55,695 1.5*9 25,639 3,075 3,171 7.6O4 3,139 2,600 2,559 2,H7 397 1,303 1,952 Foreign bnn> 32,033 2,635 7,540 3,362 3,641 1,434 1,237 4,781 1,250 846 1,067 1,066 2,574 Special deposits: member "bank 75,703 1,971 6,344 10,915 6,146 4,310 2,360 29,230 4,523 1,676 2,228 323 5.672 nonmember bank 17,036 — 8O5 1,330 197 1,519 221 7,351 3,530 554 154 375 Other deposits 53,135 2,309 12,212 547 1,454 4,919 3,338 11,523 4,164 1,021 186 816 10,191 Total deposits 2,673,045 159,922 1,069,211 148,639 157,36U 91,561 65,707 491,1J81 88,265 58,252 108,572 60,455 173,556 Deferred availability items 370,531 Hi,303 37,179 28,690 36,746 33,436 11,337 46,131 13,692 10,681 23,015 15,475 17,791 Capital paid in 146,030 10,771 53,525 15,747 12,362 5,oi4 4,s6l 13,234 4,003 2,872 4,223 3,725 10,688 Surplus 278,599 20,460 85,05s 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 8,719 19,701 All other liabilities 29,039 669 11,135 1,010 2,705 953 2,339 3,769 1,072 1,210 596 1,243 1,733 TOTAL LIABILITIES 6,640,930 470,914 2,013,236 463,914 547,364 231,990 215,457 1,377,261 256,953 175*034 255,603 130,264 447,830 Ratio of total gold reserves and other cash* to deposit and F.R* note liabilities combined 67.0 74.3 61.1 64.2 63.7 69.s 67.9 74.9 67.2 63.7 63.6 60.9 67.1 Contingent liability on bills purchased for foreign correspondents 41,402 2,933 14,645 4, 219 3,977 1,567 l,4o6 5,223 1,366 924 1,165 1,165 2,S12 MATURITY DISTRIBUTION OF BILIS AMD 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 144,793 109,555 12,751 11,71^ 9,670 1,03S 65 Bills bought in open market 6,97^ l,%6 3,052 704 1,782 Certificates and bills 51+9,540 153,036 S0,1S3 86,525 135,017 233,929 154,350 Municipal warrants 1,339 1,777 33 37 92 * "Other cash" does not include F. E. notes or a bank's own F. E. bank: notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 110 TE STATEMENT OH SEPTEMBER 6, 1933 (In thousands of dollars) 3-soia Total Bos to n He?/ York ?liila, Clove • Sicii Atlanta Chicago St.Louis 'linn. s. Cy. Dallas San Fran. # # Federal Reserve notes: Issued to F.R.bank "by E.R.Agent 3,263,611 247,830 734,708 252,550 313,420 146,405 l4l,654 781,76s 142,343 36,224 118,54$ 3 ^ 6^ 258,906 Held "by Federal Reserve "bank 258,662 23,035 85,385 14,357 13,487 7,0^5 23,395 30,133 S,866 2,814 8,630 2,300 38,543 In actual circulation 3,010,949 224,795 643,323 238,193 239,933 139,360 118,253 751,629 134,083 93,^10 109,859 31,748 220,357 Collateral held by a^ent as security for notes issued to "bank: Gold and gold certificates 1,525,116 73,339 523,606 97,^0 107,270 51,625 21,400 ^39,567 43,066 29,789 21,490 13,014 97,500 Gold fund - F. H. Board 1,223,735 15M17 123,100 87,550 115,500 63,505 75,000 313,000 68,700 40,000 77,800 8,000 90,763 Eligible paper 30,727 3,012 23,738 12,30c 10,825 6,550 4,576 3,417 2,028 1,308 2,875 4,461 10,037 U # S.Govt # securities 1+83.700 20.000 85.000 56.000 8*5.000 20.000 '42.000 30.000 30,000 25,200 20.000 5,500 65,000 Total collateral 3,323,278 251,16s 760,444 253,300 318,595 147,680 142,976 785,984 143,794 96,897 122,165 36,975 263,300 FEDERAL HESERVE BANK 1T0TE STATEMENT 01* SEPTEMBER 6, 1333 (In thousands of dollars') Total Boston ITev; York Phila. Cleve. .Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran, Federal Reserve tank notes Issued to F.R.Baiik( outstanding) 15^,383 14,633 63,510 7,523 12,360 - 2,123 33,195 718 1,637 388 13,401 4,241 Held "by Federal Heserve baric 21,702 1,704 10,705 130 2,4oo — 253 1,675 71 57 13 4,502 132 In actual circulation 132,687 12,929 52,805 7,393 9,960 - 1,870 31,520 647 i,64o 975 8,893 4,049 Collateral pledged against outstanding notes: Discounted and purchased bills 2,273 1,5^2 — 255 363 113 U.S.Govt, securities 177,274 20,000 64,274 8,000 15,000 — 3,000 40,000 5,000 2,000 1,000 14,000 5,000 Total collateral 179,553 20,000 64,274 8,000 16,542 3,255 4o,ooo 5,369 2,000 1,000 14,113 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis