H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, Seiot. 15; Federal Reserve Board not earlier September lU, 1933 CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended September 13, as reported by the Federal Reserve banks, was $2,337,000,000, an increase of $33,000*000 compared with the preceding week and of ,000,000 compared with the corresponding week in 1932* On September 13 total Reserve bank credit amounted to $2,357*000,000, an increase of $27,000,000 for the week. This increase corresponds with an increase of $103,000,000 in member bank reserve balances and a decrease of $2,000,000 in monetary gold stock, offset in part by decreases of $U6,000,000 in money in circulation and $21,000,000 in unexpended capital funds, nonmenber deposits, etc., and an increase of $10,000,000 in Treasury currency, adjusted. Bills discounted declined $6,000,000 at the Federal Reserve Bank of San Francisco, $3,000,000 at New York and $12,000,000 at all Federal Reserve banks. The System* s holdings of bills bought in open market and United States bonds show practically no change for the week, while holdings of United States Treasury notes increased $16,000,000 and of Treasury certificates and bills $20,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 13, 1933* were as follows: Increase or decrease since Sept. 13 Sept. 6 Sept. ik 1933 , 195? • 1932 (In millions of dollars) Bills discounted 133 - 12 - 269 Bills "bought 7 - 27 U. S. Government securities 2,203 + 37 + 352 Other reserve "bank credit Ik + 2 TOTAL RESERVE BAKE CREDIT 2,357 +27 + 56 Monetary gold stock M 27 - 2 +199 Treasury currency adjusted 1,963 +10 + 97 Money in circulation 5,6Q2 - U6 - 66 Member "bank reserve "balances 2,542 +103 + 29S Unexpended capital funds, no nmember deposits,etc 503 - 21 + 120 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, Sept. 15,1933; not earlier, B~801a ASSETS AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 13,1933 Sept. 6,1933 Sept.1**. 1932 A S S E TS Gold with Federal Reserve agents . . .. 2,7^0,651 2,748,851 2,130,678 Gold redemption fund wita U.S.Treasury , 56,560 36,71^ 35,913 Gold held exclusively against F.R.notes 2,777,370 2,784,764 2,187,238 Gold settlement fund with F. R. Board . 565,831 561,834 297,635 Gold and gold certificates held "by banks 247,254 241,733 3^7,75^ Total gold reserves 3,590,455 3,588,381 2,832,627 Other cash* . . . . . . . . . . . . .. 238,121 221,136 282,742 Total gold reserves and other cash . 3,828,576 3,809,517 3,115,369 Redemption fund - F. R. bank notes . . 88,,553344 8,224 — Bills discounted: Sec. by U.S. Government obligations . 29,030 37,704 144,229 Other bills discounted 104,203 lozxosa 257,704 Total bills discounted . . .. 133,233 1^,793 401,933 Bills bought in open market 77,,334477 6,974 33,726 U. S. Government securities: Bonds 442,231 ^1,985 420,747 Treasury notes 890,877 874,846 400,796 Certificates and bills 869,552 849,540 1,029,384 Total U.S.Government securities . 2,202,660 2,166,371 1,850,927 Other securities 1,7*9. 1,939 5,426 Total bills and securities • 2,3^,029 2,320,077 2,292,012 Due from foreign banks 3,713 3,713 2,660 F. R, notes of other banks . . . . .. 19,577 15,290 18,065 Uncollected items . . .. >+22,779 376,616 411,019 Bank premises 54,542 54,541 58,127 All other assets 55,975 52,952 50,310 TOTAL ASSETS 6,738,325 6,640,930 5,947,562 L I A B I L I T I ES F. R. notes in actual circulation . . 2,989,123 3,010,949 2,789,123 F. R. bank notes in actual circulation 133,638 132,687 — Deposits: Member bank - reserve account . . . 2,541,745 22,,443355..339933 22,,224433,,881166 Government . . . . . . . . . . .. 46,oo4 55,695 18,474 Foreign bank . . . . .. 21,207 32,033 10,556 Special deposits - member bank . . 75,865 75,703 — nonmember bank 16,44s 17,036 — Other deposits . 43,778 53,185 25.764 Total deposits . .. 2,673,045 2,298,610 2,7^5,0)+7 Deferred availability items . . .. 4l4,240 370,581 404,987 Capital paid in . . . . . . . . .. 145,339 146,030 153,066 278,599 278,599 259,421 All other liabilities 31.789 29,039, 42,355 TOTAL LIABILITIES . . .. 6,738,325 6,640,930 5,947,562 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined . 66.8$ 6677..00$$ 6611..225566 Contingent liability on bills purchased for foreign correspondents . . .. 43,362 4411,,440022 4422,,443377 * "Other cash" does not include F. R. notes or a "band's own F.R.bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL BESEEVE BANKS OH SEPTEMBER 13, 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 Iran. Gold with Federal Reserve agents 2,740,651 224,156 646,706 185,000 222,770 121,130 91,150 7^,5^7 112,816 69,789 99,290 29,014 190,263 Gold redemption fund with U.S.Treas. 36,719 1,278 6,549 If,079 4,835 l,46l 2,798 3,152 1,668 1,702 1,367 1,06S 6,762 Gold held exclusively against P. R. notes 2,777,370 225,434 653,255 129,079 227,605 122,591 9933,,99^^88 751,719 114,484 71,451 100,657 30,082 197,025 Gold settlement fund with JJR.Board 565,831 21,551 198,837 14,792 40,704 18,951 11,395 144,194 30,329 16,390 27,171 15,960 25,557 Gold and gold certif. held by banks! 247,254 21,846 144,410 15,256 4,335 1,495 4,027 8,042 652 290 12,497 5,265 29,139 Total gold reserves 3,590,455 268,831 9^6,502 219,127 272,644 143,037 109,370 903,955 145,465 88,171 140,325 51,307 251,721 Other cash* 238,121 19,175 65,787 26,346 21,143 11.42S 11,011 32,807 10,106 5,801 9,488 6,809 18,220 Total gold reserves & other cash'•3 ,828,576 280,006 1,062,289 2U5/473 293,787 154,465 120,381 936,762 155,571 93,972 149,813 58,116 269,941 Redemption fund - F.R.bank notes 8.534 706 2,748 375 565 — 583 2,489 98 96 50 5SS 236 Bills discounted: Secured by U.b.Govt. obligations 29,030 1,315 12,389 4,528 4,536 2,043 762 1,117 935 90 442266 202 682 Other bills discounted 104,203 3,279 28,608 24,311 7,584 9,303 6,529 5,9^ 2,106 3,499 3,772 3,989 5,275 Total bills discounted 133,233 4,59^ 40,997 28,839 12,120 11,351 7,291 7,065 3,041 3,589 4,198 4,191 5,957 Bills bought in open market 7,3^7 451 2,333 649 606 239 214 S03 174 118 177 177 l,4o6 U.S.Govorrment securities: Bonds 442,231 23,413 173,677 28,674 33,136 11,433 10,645 75,165 l4,4oo 16,494 13,26s 16,779 25,147 Treasury notes 890,877 57,565 313,010 64,231 83,997 28,993 26,943 146,675 35,243 22,655 30,636 17,183 63,746 Certificates and bills 269,552 54,684 293,604 60,986 79,792 27,5^ 25,603 166,387 33,^7.9 21,492 29,104 16,320 60,556 Total U.S.Govt, securities 2,202,660 135,662 780,291 153,891 196,925 67,971 63,191 388,227 83,122 6o,64l 73,008 50,282 149,449 Other securities 1,789 — 1,237 510 — — —. 42 — -- Total bills and securities 2,3^5,029 140,707 824,858 133,889 209,651 79,561 70,696 396,095 §6,337 64,590 77,383 54,650 156,812 Dae froni foreign banks 3,713 284 1,369 409 367 145 130 506 17 12 107 107 260 P. R. notes of other banks 19,577 339 6,567 462 1,205 1,118 1,383 3,797 824 37 6 1,257 314 1,935 Uncollected iteras 422,779 49,252 108,501 34,143 41,405 34,939 11,724 55,482 18,192 11,598 21,462 14,311 21,770 Bank premises 54,542 3,280 12,818 3,618 6,929 3,238 2,422 7,609 3,285 1,747 3,559 1,793 4,244 All other assets 55.575 713 30,611 4,808 2,521 3,925 4,471 2,041 608 2,022 1,401 1,116 TOTAL ASSETS 6,738,325 433,292 2,049,761 473,177 556,430 277,391 211,790 l,4o4,78l 264,932 173,524 255,653 131,280 456,314 * "Other cash" does not include P. 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 AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON SEPTEMBER 13, 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. ICans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,989*123 223,070 638,950 238,686 301,1*91 137,934 117,1461 7^7,091 133,131 92,969 108,907 31,382 218,001 F.B.bank notes in actual circulation 133$632 12,669 52,734 7.261 10,507 -- 1,8^3 31,275 793 1,710 967 9,815 4,Ol4 Deposits: Member bank - reserve account 2,^bl 155,671 1,070,645 127,S30 144,329 69,587 52,722 467,846 81,429 50,365 106,02s 55,585 159,708 f Government hS C0b 4,583 7,545 4,778 4,531 8,153 3,631 1,174 1,149 2,579 2,229 2,496 3,156 f Foreign bank 21,207 1,560 6,971 2,244 2,116 834 748 2,779 727 492 620 620 1,496 Special deposits: member bank 75JS65 1,591 6,469 11,449 6,497 3,59'3 2,19s 29,521 4,630 1,674 2,259 359 5,625 no run ember batik: lo 44s 807 1,635 190 1,419 185 7,229 3,419 464 153 947 t Other deposits 43,778 2,577 9,467 486 2,203 4,458 3,827 6,711 4,513 1,129 344 "474 7,589 Total deposits 2,745,0U7 165,982 1,101,904 148,422 159,866 88,044 63,311 515,260 95*867 56,703 111,633 59,534 178,521 Deferred availability items 4l4,240 101,176 31,961 41,124 33,900 10,917 54,569 19,905 11,172 20,956 15,299 23,616 Capital paid in 145,889 10,771 58,497 15,747 12,379 4,882 4,857 13,233 4,on 2,872 4,227 3,725 10,688 Surplus 278,599 20,460 S5,05S 29,242 28,294 ll,6lS 10,544 39,497 10,186 7,019 8,263 8,719 19,701 All other liabilities 31.789 695 11,392 1,858 2,769 965 2,857 3,856 1,039 1,079 700 2,806 1,773 TOTAL LIABILITIES 6,738,325 483,292 2,049,761 473,177 556,430 277,391 211,790 1,404,781 264,932 173,524 255,653 131,280 456,314 Ratio of total gold reserves anl other cash* to deposit and F.R. note liabilities combined 66.8 74.0 61.0 63.4 63.7 0S.3 66.6 74.2 67.9 62.8 67.9 63.9 68.l Contingent liability on bills purchased for foreign correspondents 43,362 3,144 14,682 4,522 4,263 1,680 1,507 5,598 1,464 990 1,249 1,2^ 3,01.4 MATURITY DISTRIBUTION OF BILLS AND SHORT TERtI SECURITIES 91 days to Total Within 15 days 15 to 30 days 31 to oO days bl to 90 days Over 6 months 6 months Bills discounted 133,233 96,670 11,961 12,415 11,092 1,033 62 Bills bought in open market 7,347 2,877 1.065 744 2,661 Certificates and bills 869,552 187,431 78,088 97,472 151,670 194,029 160,862 Municipal warrants 1,789 1,677 33 37 42 * "Other cash" does not include P. 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 1T0TE STATEMENT OH SEPTEMBER 13, 1933 (In thousands of dollars) B-SOld Total Boston Hew York Phi la. Cleve. Rich... Atlanta Chicago St.Louis Minn. Ivans. Gy. Dallas San Fran. Federal Reserve notes: Issued to F.R.barik: lay F.R.Agent 3,282,847 249,901 728,814 259,066 314,759 146,551 l4l,381 786,651 142,422 92,323 118,975 34,526 261,478 Held by Federal Reserve tank 293,724 26,831 89,864 20,380 13,268 8,567 23,920 39,560 9,291 5,354 10,068 3,144 43,477 In actual circulation 2,939,123 223,070 638,950 238,686 301,491 137,984 117,461 747,091 133,131 92,969 108,907 31,382 218,001 Collateral held "by agent as security for notes issued to "bank: Gold and gold certificates 1,521,916 73,339 523,606 97,450 107,270 51,625 21,150 439,567 43,116 29,789 21,490 19,014 94,500 Gold fund - F. R. Board 1,218,735 150,817 123,100 87,550 115,500 69,505 70,000 309,000 69,700 40,000 77,800 10,000 95,763 Eligible paper 81,215 2,450 26,342 12,433 10,583 6,494 4,670 2,719 2,264 1,838 2,893 3,395 M 34 U.S. Govt, securities 507,700 25,XQ 80,000 62,000 85,000 20,000 47,000 40,000 29,000 27,2X> 20,000 2,500 70,000 Total collateral 3,329,566 251,606 753,o4s 259,433 31s,353 147,624 142,820 791,286 144,080 98,827 122,183 35,409 264,897 FEDEBAL RESERVE SAHZ 1T0TE STATS1.52TT 0!T SEPTEMBER 13, 1933 (In thousands of dollars) Total Boston New York phila. Clave. Rich. Atlanta Ciiicrgo St.Lcuis Minn. Kans.Cy. Dallas San Fran, Federal Reserve bank notes Issued to F.R.Barik( out standing) 156,211 14,586 63,322 7,442 12,884 1,878 33,109 1,09s 1,776 922 14,898 4,236 66 222 In actual circulation 133,638 12,669 52,724 7,261 10,507 1,843 31,275 793 1,710 967 9,215 4,0l4 Collateral pledged against outstanding notes: Discounted and purchased bills 2,205 1,451 254 364 136 U. S. Govt, securities 179,274 20,000 64,274 8,000 15,000 3,000 4o,ooo 5,000 2,000 1,000 16,000 5,000 Total collateral 181,479 20,000 64,274 s,ooo 16,451 3,254 40,000 5,364 2,000 1,000 16,136 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis