H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STAHWmr FOB. THE PHESS Released for publication B-801 Friday morning, Sept. 22; Federal Reserve Board not earlier # September 21, 1933 common of federal reserve BMKS The daily average volume of Federal Reserve bank credit outstanding during the week ended September 20., as reported by the Federal Reserve banks, was $2,3©* ,000,000, an increase of $27,000,000 compared .with the preceding week and of $95,000,000 compared with the corresponding week in 1932* On September 26 total Reserve bank credit amounted to $2,382,000,000, an increase of $31,000,000 for the week. This increase corresponds with increases of $3,000,000 in money in circulation, $1,000,000 in member bank reserve balances and $9,000,000 in unexpended capital funds, nonmember deposits, etc , and a de- # crease of $17,000,000 in Treasury currency, adjusted. Bills discounted declined $3,000,000 at all Federal Reserve banks, while holdings of bills bongit in open market show practically no change for the week. The System*s holdings of United States Treasury notes increased $4H,000,000, while holdings of United States bonds declined $1,000,000 and of Treasury certificates and bills $3,000,0C0 # Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 20, 1933 > as follows: Increase or decrease since * Sept. 20 Se"ot 13 Sex>t 21 # # 1933 1933 _1222_ (In millions of dollars) Bills discounted 130 - 3 - 229 Bills bought 7 - 27 U. S. Government securities 2,23S +35 + 326 Other reserve bonk credit 13 - l 2 TOTAL R3S3RV3 BAM CB3DIT 2,38S +31 + 129 Monetary gold stock ^,327 + 162 Treasury currency adjusted 1,9^6 -17 + 133 Money in "circulation ..-5,605, + 3 - 37 Member bank reserve balances 2,5^3 + 1 + 332 Unexpended capital funds,nonmember deposits,etc R12 + 9 + 127 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Sept. 22,1933; not earlier. 3-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 20,1933 Sept.13,1933 Sept.21, 1932 A S S E TS Gold with Federal Reserve agents . . . 2,732,226 2,740,651 2,144,988 Gold redemption fund with U.S.Treasury 36,162 36,719 54,350 Gold held exclusively against F.R.notes 2,768,388 2,777,370 2,199,338 Gold settlement fund with F.R.Board . 570,051 565,831 286,056 Gold and gold certificates held by banks 252,527 247,254 379,297 Total gold reserves . . . 3.590,966 3,590,455 2,864,691 Other cash* .. 230,835 238,121 281,685 Total gold reserves and other cash , 3,821,801 3,828,576 3,146,376 Redemption fund - F. R. bank notes . . 8,528 8,53^ Bills discounted: Secured by U.S.Govt, obligations , , 27,092 29,030 118,309 Other bills discounted . . . . .. , 103,069 104,203, 240,714 Total bills discounted . . .. 130,161 133,233 359,023 Bills boiight in open market . . . . .. 66,,993322 7,3^7 33,652 U. S. Government securities: Bonds 441,396 442,231 421,348 Treasury notes . . . 934,624 890,877 408,355 Certificates and bills . . 861,760 869,552 1,021,843 Total U.S.Government securities . 2,237,780 2,202,660 1,851,5^6 Other securities 1,789 1,789 4,402 Total bills and securities . . 2,376,662 2,3%,029 2,248,623 Due from foreign banks . . . . . . .. 3,909 3,713 2,653 F. R. notes of other banks . 19,799 19,577 17,871 Uncollected items . ^35,8^5 422,779 361,983 Bank premises . . 54,542 58,126 5^,551 All other assets 5M12 55.575. TOTAL ASSETS 6,775,207 6,738,325 5,879,386 L I A B I L I T I ES F.R. notes in actual circulation . .. 2,986,781 2,989,123 2,759,137 F.R, bank notes in actual circulation . 137,170 133,638 — Deposits: Member bank - reserve account . . .. 2,543,32s 22,,55^^11,,77**++55 2,210,587 Government 59,123 46,oo4 68,969 Foreign bank 16,174 21,207 10,702 Special deposits - member bahfe . .. 76,665 75,865 — nonmember bank . 16,214 16,44s — Other deposits . . . . . . . . . .. , 55,118. "43,778 24,830 Total deposits . . .. 2,766,622 2,745,047 2,315,088 Deferred availability items . . . .. 428,340 4l4,24o 353,790 Caoital paid in 145,85s 145,S89 152,988 Surplus 278,599 278,599 259,421 All other liabilities ... 31,8^7 51,789. 38.962 TOTAL LIABILITIES . . .. 6,775,207 6,738,325 5,879,386 Ratio of total gold reserves and other cash* to deposit and F.R.note liabilities combined 66.4$ 6666..88$$ 6622..00$$ Contingent liability on bills purchased for foreign correspondents . . . .. 4466,,770011 4433,,336622 4411,,997788 * "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 AMD LIABILITIES 0? THE FEDERAL RESERVE BAMS Oil SEPTEMBER 20, 1933 A S S E TS (In thousands of dollars) B-801b Total Boston ITev? York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C-y. Dallas San Fran. Gold with Federal Reserve agents 2,732,226 224,316 656,706 183,200 218,770 117,130 90,625 750,017 108,606 69,289 99,290 29,014 185,263 / -TO Gold held exclusively against F. R. notes 2,768,388 225,492 662,997 187,219 223,545 118,803 93,373 753,059 110,263 70,981 100,597 30,068 191,991 Gold settlement fund with F.R.Bc L 570,051 21,439 206,178 11,121 31,845 18,907 11,865 156,828 30,618 16,032 27,532 18,403 19,283 Gold and gold certif. held by "banlcis 252,527 21,914 144,936 15,36s 4,334 1,510 4.219 7,278 472 ^4l 12. ^260 ^4 t ^4o Total gol 3,390,966 268,845 i,oi4,in 213,70s 259,724 139,220 109/457 917,165 141,353 87»'354 140,684 53,731 245,614 Other cash* 230,835 20,333 60,916 27,106 21,839 11,26s 10,596 33,449 S,SS7 5,760 S.SS5 5,767 16,029 Total gold reserves & other cash 3,821,801 289,178 1,, 075,027 24o,si4 281,563 150,4sa 120,053 950,614 150,240 93,11^ 1^9,569 59,49s 261,643 Bedanption fund - F.R.Bank notes 8,528 63s 2,823 370 701 — 544 2,283 9955 111199 5500 663 223322 Sills discounted: Secured by U.S.Govt, obligations 27,092 1,889 12,341 4,479 3,811 953 359 1,002 887 117 439 211 6o4 Other bills discounted 103,069 3,351 27,900 23,767 7,62s 9,088 6,501 5,808 2.6^4 3.SS2 4 023 <5,012 T Total bills discounted 130,161 5,240 40,241 28,246 11,439 10,04l 6,860 6,810 3,5^1 3,572 4,321 M34 5,616 -ills bought in open :aarket 6,932 451 2,033 649 606 239 214 303 174 lis 177 177 1,291 U.S.Government securities: Bonds 441,396 23,665 172,013 28,510 32,904 11,503 10,652 76,211 14,408 16,327 12,504 17,476 25,163 Treasury notes 934,624 60,727 327,689 66,573 87,030 30,421 28,033 155,463 36,736 23,462 32,066 19,773 66,551 Certificates and bills 861,760 55,229 282,419 60,518 79,151 27,666 25,541 168,763 33,458 21,339 29,168 17.983 60.^2*5 Total U.S.Govt, securities 2,237,780 139,621 782,121 155,601 199,085 69,590 64,27$ 400,437 84,652 6l,188 73,738 55,232 152,239 Other securities 1,789 — 1,237 510 — — — — — 42 — — — Total bills and securities 2,376,662 145,312 825,632 185,006 211,130 79,870 71»350 408,050 88,367 64,920 78,236' 59,643 159,146 Due from foreign banks 3,909 284 1,565 409 367 145 130 506 17 12 107 107 260 F. R. notes of other banks 19,799 371 4,975 44l .919 1,240 1,136 4,523 1,213 758 1,639 195 2,389 Uncollected items 435,845 54,341 lib,498 31,745 39,570 35,356 12,728 58,778 17,559 11,362 22,952 14,876 20,080 Bank premises 54,551 3,280 12,818 p,6lS 6,929 3,237 .2,422 7,609 3,285 1,747 3,559 1,793 ^,254 All other assets 54,112 710 30,450 4,048 2,517 3,873 4,423 1,775 583 1,308 2,00d 1,330 1,089 TOTAL ASSETS 6,775,207 4s4,ll4 2,069,793 466,451 5^3,696 274,209 212,786 1,434,13s 261,359 173,340 258,118 138,110 4^9,093 * "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 AI]D LIABILITIES OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 20, 1933 L I A B I L I T I ES (In thousands of dollars) B-801c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C&r. Dallas San Fran. F.R.notes in actual circulation 2,986,781 222,202 640,787 237,623 296,652 137,o2S 117,635 7*49,123 134,201 93,779 108,883 31,313 216,955 F.R.bank notes in actual circulation 137,170 12,31S 53,110 7,122 11,785 -- 1,780 31,H7 1,637 1,802 955 11,569 3,975 Deposits: Member "bank - reserve account 2,5^3,328 170,327 1,046,929 125,024 139,228 67,209 54,768 492,330 74,564 49,876 106,859 59,804 156,410 Government 59,123 3,001 26,151 5,619 2,359 5,811 2,479 2,858 1,905 1,692 2,412 1,256 3,520 545 Foreign "bank 16,17*1 1,137 5,801 1,635 1,542 607 2,025 530 35s 452 452 1,090 Special deposits: member "bank 76,665 1,482 6,235 10,885 6,230 4,207 2,135 31,303 4,580 1,672 2,306 333 5,297 nonmemb er bank 16,214 87 6 174 1,427 19s 7,066 3,417 409 147 786 Other deposits gfrllg 2,681 22,851 614 2,199 4*922 2.996 3,303 4,974 1,33-5 309 23S 1,456 Total deposits 2,766,622 173,62s 1,108,843 145,491 151,732 84,183 63,121 539,385 S9,970 55,322 112,435 62,843 174,619 Deferred availability items 428,340 49,oo4 111,525 30,13s ^,093 34,922 12,067 57,889 20,014 11,388 22,573 17,255 21,412 Capital paid in 145,858 10,779 52,497 15,747 12,377 4,891 4,s4o 13,21s 4,oil 2,872 4,220 3,720 10,686 Surplus 278,599 20,460 85,058 29,242 28,294 11,616 10,544 39,497 10,18b 7,019 8,263 8,719 19,701 All other liabilities 31.837 723 ll.qrs l„Qgg 2,76.3 2,799 1.340 1,158 733- 2,691 1,745 TOTAL LIABILITIES 6,775,207 494,114 2,069,793 466,451 543,696 274,209 212,7S6 1,434,138 261,359 173,340 258,118 138,110 449,093 Ratio of total gold reserves and otiier cash* to deposit and F.R. note liabilities combined 66.4 72.1 6l.4 62.9 62.8 67.S 66.4 73.S 67.0 62.5 67.8 63.2 66.8 Contingent liability on bills purchased for foreign correspondents 46,701 3,409 15,600 4,903 4,623 1,821 1,635 6,071 1,588 1,074 1,354 1,354 3,269 MATURITY DISTRIBUTION OF BILLS AMD SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 130,161 95,693 10,907 11,430 10,838 1,224 69 2,018 Bills bought in open market 6,932 3,207 863 s44 Certificates and bills 861,760 80,183 46,300 97,972 325,199 168,100 144,006 Municipal warrants 1,789 1,710 37 42 * "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 110TE STATEMENT OH SEPTEMBER 20, 1933 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich.. Atlanta Chicago St.Louis Minn. Kans.C&r. Dallas San Fran. Federal Reserve notes: Issued to F.R.baxik by F.R.Agent 3,279,097 21+8,259 723,292 257,081 311,531 1^7,021 11+0,877 797,239 ita.,928 99,227 116,906 31+, 286 260,850 Held "by Federal Reserve hank 292,316 26,057 83,105 19,^58 lU.879 9,393 23,2*42 48,116 7,727 5,1+148 8.023 2*973 ^,895 , In actual circulation 2,986,781 222,202 61+0,787 237,623 296,652 137,62s 117,635 7^9,123 13^,201 93,779 108,883 31,313 216,955 Collateral held by agent as security for notes issued to "bank; Gold and gold certificates 1,518,291 73,^9 523,606 97,^50 107,270 51,625 20,625 1+1+1,017 14-3,406 29,789 21,1490 19,0114 89,500 Gold fund - F. R. Board 1,213,935 150,817 133,100 85,750 111,500 65,505 70,000 309,000 65,200 39,500 77,800 10,000 95,763 Eligible paper 79,^8 3,097 25,587 11,983 9.831 6,257 >+,320 2,381 2,781 1,821 3,007 3,877 14,521 U.S. Govt, securities 527,200 25,000 75,000 62,000 85,000 25,000 U7,000 50,000 32,000 29,200 20.000 2,000 75.000 Total collateral 3,338,8914 252,1413 757,293 257,188 313,601 11+8,387 1U1.9U5 202,393 1^3,387 100,310 122,297 3^,891 2614,78)4 FEDERAL RESERVE BA13K BOTE STATEMENT 0!T SEPTEMBER 20, 1933 (In thousands of dollars) Total Boston Hew York phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kaas.Cy. Dallas San Fran. Federal Reserve bank notes Issued to F.R.Bank(outstanding) 159,6ll4 14,318 63,102 7,337 16,121 - 1,839 32,903 1,895 2,011+ 975 1M7S 1+, 232 22,4l4U 2,000 9,992 215 ^,336 — 212 20 3,309 In actual circulation 137,170 12,318 53,110 7,122 11,785 -- 1,780 31,117 1,637 1,802 955 11,569 3,975 Collateral pledged against outstanding notes: Discounted and .purchased bills 2,260 1,531 -- 2I49 3144 136 U. S. Govt, securities 179,674 20,000 61+, 27!+ 8.000 15,000 — 3,000 1+0,000 5.000 2.1+00 1.000 16.000 5,000 Total collateral 181,9314 20,000 614,271+ 8,000 16,531 — 3,2l49 140,000 5,3^ 2,1+00 1,000 16,136 5,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis