H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-SOl Friday morning, Sept. 29; Federal Reserve 3oard not earlier September 28, 1933 CONDITIO!: OF FEDERAL RES3RVE BAKES The daily average volme of Federal Reserve bank credit outstanding during the weds: ended September 27, as reported by the Federal Reserve banks, was $2,392,000,000, an increase of $28,000,000 compared with the preceding wee1: and of $1^1,000,000 compared with the corresponding week in 1932« On September 27 total ilesorve bank credit amounted to $2,^21,000,000, an increase of $33,0JO,000 for the week. This increase corresponds with an increase of $53,000,000 in member bank reserve balances and a decrease of $3,000,000 in monetary gold stock offset in part by decreases of $10,000,000 in money in circulation and $9,000,000 in unexpended capital funds, nonmember deposits, etc., and an increase of $2,000,000 in Treasury currency adjusted. Bills discounted increased $3,000,000 at the Federal Reserve Bank of San Francisco and a like amount at all Federal Reserve banks. The System's holdings of bills bought in open market show practically no change for the week. Holdings of Treasury certificates and bills increased $33*000,0of Treasury notes $2,000,000 and of United States bonds $1,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 27, 1933» were as follows: Increase or decrease since Sept. 27 Sept. 20 Sept. 28 1953 J±!m 1932 (in millions of dollars) Bills discounted 133 + 3 - 207 Bills bought 7 - 27 U. S. Government securities 2,27^ +36 + ^20 Other Reserve bank credit 7 - 6 7 TOTAL RESERVE BANK CREDIT 2,U21 +33 + ISO Monetary gold stock ^,32^ - 3 + 139 Treasury currency adjusted 1*948 + 2 + 113 Money in circulation 5.595 -10 - 10 Member bank reserve balances 2.596 +53 + 327 + 116 Unexpended capital funds,nonmember deposits,etc 503 - 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Sept. 29,1933; earlier. B-SOla ASSETS AITD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAFICS COMBINED (In thousands of dollars) 5g?t. 27,1221 Sept. 20,1933 Sept. 28,1932 A S S E TS Gold with Federal Reserve agents , . . 2,71^,026 2,732,226 2,166,537 Gold redemption fund with U.S.Treasury ,723 36,162 48,532 Gold held exclusively against F.R.notes 2,7^,7^9 2,762,388 2,215,075 Gold settlement fund with F.R.Board . 592,5>+7 570,051 264,484 Gold and gold certificates held by "banks 250,503 252,527 399,087 Total gold reserves . . . .. 3,590,966 2,878,646 3,591.799 Other cash* 231,762 230,835 229,253 Total gold reserves and other cash . 3,S23,56l 3,821,301 3,168,499 Redemption fund - F. R. Dank notes . . 9,497 8,528 Bills discounted: Secured by U.S.Govt, obligations . . 31,219 27,092 107,059 Other bills discounted 102,014 103,069 232,522 Total bills discounted . . . 133,233 130,161 339,647 Bills bought in oraen market 6,6si 6,932 33,604 U. S. Government- securities: 442,011 441,396 421,482 Treasury notes . 937,374 934,624 402,866 Certificates and bills . S95,oio 861,760 1,029,335 Total U.S. Government securities . 2,237,720 1,253,683 2,274,395 Other securities . 1,729 4,872 1,729 Total bills and securities . . 2,416,03s 2,376,662 2,2^1,806 Due from foreign banks . . 3,775 3,909 2,663 F. R. notes of other banks 19,323 19,799 15,648 Uncollected items 389,001 435,245 341,295 58,126 Bank premises 54,554 54,551 All other assets . , . . 54,681 54,112 44,046 TOTAL ASSETS 6,770,430 6,775,207 5,262,033 L I A B I L I T I ES F.R.notes in actual circulation . . . 2,972,722 2,926,721 :2,720,93s F.R.bank notes in actual circulation 114455,,662277 113377,,117700 — Deposits: 22,,226688,,552211 Member bank - reserve acco^^nt . .. 2,595,634 2,543,328 Government 56,062 59,123 Us,Uo5 Foreign bank 15,197 16,174 9,864 76,665 Special deposits - member bank . . 73,629 — nonrnember bank 15,315 16,214 -- Other deposits 51,942 55,112 26,352 Total deposits 2,807,779 2,766,622 2,353,142 Deferred availability items . . .. 327,711 428,340 334,900 145,s62 145,85s 152,996 Surplus . . . . .. . . « . » . . *. 272,599 273,599 259,421 All other liabilities . 32,070 31,237 40,636 TOTAL LIABILITIES 6,770,430 6,775,207 5,862,083 Ratio of total gold reserves and other cash* to deposit and F. R. note liabilities combined . 6666..11$$ 66.4fo 62.4$ Contingent liability on bills purchased for foreign correspondents . . . .. 42,407 46,701 4433,,448866 * "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 RESERVE BAMS Off SEPTEMBER 27, 1933 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.LOTUS Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve agents 2,713,026 224,316 636,706 180,200 213,770 116,130 88,135 750,767 115,696 68,289 99,290 3^64 185,263 Gold redemption fund with U.S.Treas. 35,723 1,129 6,035 3,919 M 05 1,870 2,708 2,900 1,626 1,622 1,284 1,029 6,696 Gold held exclusively against 642,741 184,119 218,675 118,000 69,911 100,574 F. R. r.-;tes 2,748,749 225,445 90,843 753,667 117,322 35,4-93 191,959 Gold settlement fund with F.R.Board 592,5^7 21,902 206,213 11,983 43,34s 17,202 1^,529 165,064 31,046 15,027 26,942 22,928 16,363 Gold a.vi gold certif. held by banks 250,503 22,127 1^5,375 15,421 ^,391 l,4io 3,336 6,788 407 422 12,592 3,832 34,402 •Total gold reserves 3,591,799 269,474 994,329 211,523 266,4l4 136,612 108,708 925,519 1^8,775 85,360 l40,10S 62,253 242,724 Other cash* 231,762 21,804 60,390 26,587 21,497 11,673 11,13^ 33,024 8,755 5,888 8,633 5,91^ 16,463 Total gold reserves & other cash 3,823,561 291,27s 1,054,719 238,110 287,911 148,285 119,842 958,5^3 157,530 91,24s I4S,74I 68,167 259,187 Redemption fund - F.R.Bank notes 9,^97 588 3,169 430 853 — 512 2,210 195 119 50 839 532 •DJ.XJLS UXSl-l'VUVCU. Sec. by U.3,Government obligations 31,219 2,799 14,584 5,282 3,163 1,666 240 977 722 115 139 123 1,409 Other bills discounted 102,014 3,072 27,351 23,713 7,609 8,600 6,448 5,436 i,s6s 3,336 3,865 3,^91 7,225 Total bills discounted 133,233 5,871 41,935 28,995 10,772 10,266 6,688 6,413 2,590 3,^51 4,004 3,614 8,634 Bills be Light in open market 6,621 451 2,033 649 606 239 214 S03 17^ 118 177 177 1,040 U.S.Government eecuritieas Bonds 442,011 23,752 171,705 28,322 32,605 11,551 10,717 77,138 1144,,336666 1166,,336600 13,001 1177,,441199 25,075 Treasury notes 937,37^ 61,150 327,773 66,283 86,505 30,642 28,117 158,368 36,793 23,380 32,155 19,682 66,526 Certificates and bills 895,010 57,726 292,465 6?,54o 81,663 28,927 26,545 .176,601 3J+»731+ 22,072 30,356 18,581 62,800 Total U.S.Govt, securities 2,274,395 142,628 791,9^3 157.1*45 200,773 71,120 65,379 412,107 85,893 61,812 75,512 55,682 154,401 Other securities 1,729 — 1,177 510 — — — — 42 — — — Total bills and securities 2,416,038 148,950 837,088 187,299 212,151 81,625 72,281 419,323 88,657 65,423 79,693 59,473 164,075 Due from foreign banks 3,775 284 1,429 409 367 145 130 506 17 12 108 108 260 F. R. notes of other banks 19,323 3S2 4,846 430 1,189 1,530 1,177 4,849 645 64l i,4s6 293 1,855 Uncollected items 339,001 45,264 99,080 29,932 36,313 34,742 11,100 51,235 16,375 10,864 20,95** 14,644 18,498 Bank premises 54,554 3,280 12,818 3,618 6,929 3,23s 2,422 7,609 3,285 l", 7^7 3,559 1,795 4,254. All other assets 54,681 711 31,297 ^,032 2,510 3,879 K312 1,76s 557 1,251 1,949 1,310 1,045 TOTAL ASSETS 6,770,^30 490,737 2,044,446 464,260 548,223 273,444 211,836 1,446,043 267,261 171,305 256,540 146,629 449,706 * "Other cash" does not include F. R» notes or a hank's own 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 OH SEPTEMBER 27, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran* ^.R.notes in actual circulation 2,972,732 222,769 632,963 233,191 292,44i 137,S84 116,202 71+9,31+7 134,661+ 93,173 108,521 31,930 214,197 R.tank notes in actual circulation 145,627 12,162 52,92H 7,237 16,477 2,709 31,031 2,648 1,842 95s 12,923 4,716 Deposits: Member "bank - reserve account 2,595,631+ 171,442 1,01+9,1+01 126,932 11+5,935 70,61+2 55,170 509,901 30,552 49,780 103,412 67,748 159,719 Government 56,062 2,000 25,332 3,9S3 2,765 3,1^7 3,457 4,605 2,576 1,331 I,7S6 6S5 4,345 Foreign "bank 15,197 1,137 4,824 1,635 1,542 607 51+5 2,025 530 358 452 452 1,090 Special deposits: member "bank 73,629 1,323 6,1+37 9,0S5 6,51+2 3,15^ 2,150 30,73s 4,565 1,721 2,182 344 5.33S nonmember bank 15,315 S02 1,812 197 932 21+6 6,6o4 3,412 333 134 793 Other deposits 51,^2 g»6g? 21,126 481 2,^+95 i+,6i+l+ 2,298 3,5^3 4,591 1,023 314 1,243 7,501 Total deposits 2,807,779 178,585 1,103,022 143,92s 159,476 83,176 63,866 557,4l6 96,226 54,5461 13,230 70,472 173,786 Deferred availability items 327,711 45,208 94,944 23,754 36,334 34,838 10,S05 51,102 18,478 10,670 20,555 16,186 19,S37 Capital paid in 145,362 10,788 52,497 15.^-77 12,363 ^,936 4,340 13,141 4,013 2,863 4,228 3,725 10,686 Surplus 278,599 20,460 35,05s 29,242 28,294 11,616 10,544 39,497 10,136 7,019 8,263 8,719 19,701 2,674 All other liabilities 32,070 765 12,03s 1,131 2,33s 994 2,370 4,009 1,046 1,187 735 l,7S3 6,770,430 490,737 2,044,446 464,260 548,223 273,444 211,336 1,446,043 267,261 171,305 256,540 146,629 449,706 TOTAL LIABILITIES Ratio of total gold reserves and other cash* to deposit and F.R. 66.1 72.6 60.6 62.3 63.7 67.1 66.6 73.3 68.2 61.S 67.1 66.6 66.0 note liabilities combined Contingent liability on bills purchased for foreign correspondents 42,407 3,095 14,170 4,452 4,197 1,654 l,4s4 5,512 1,442 975 1,229 1,229 2,968 MATURITY DISTRIBUTION OF BILLS AI7D SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 133,233 99»o4i 9,969 10,979 12,317 855 72 Bills bought in open market 6,681 1,110 2,118 565 2,838 Certificates and bills 395,010 78,OSS 38,425 109,867 294,179 217,945 156,506 Municipal warrants 1,729 1,650 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 NOTE STATEMENT OH SEPTEMBER 27, 1933 (In thousands of dollars) B-SOld Total Boston New York Phila. CI eve. Rich.. Atlanta Chicago St.Louls Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by P.R.Agent 3,250,979 247,681 708,923 254,955 304,333 147,129 136,46s 797,662 143,310 98,596 116,744 35,425 259:^43 Held "by Federal Reserve bank 278,197 24,912 76,020 16,76^ 11,914-2 9,245 20,266 47,815 8,646 5,423 8,223 3,495 45,446 In actual circulation 2,972,782 222,769 632,963 233,191 292,441 137,284 116,202 7^9,247 134,664 93,173 108,521 31,930 214,197 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 1,521,091 73,^99 523,606 97,450 107,270 51,625 21,135 441,767 43,496 29,789 21,490 20,464 89,500 Gold fund - F. R. Board 1,131,935 150,817 113,100 82,750 106,500 64,505 67,000 309,000 72,200 38,500 77,200 14,000 95,763 Eligible paper 34,057 3,S55 27,900 12,978 9,202 6,350 4,227 2,021 1,863 1,767 2,776 3,311 7,307 U.S. Govt, securities 525,200 25,000 75,000 62,000 90,000 25,000 47,000 50,000 27,000 29,200 20,000 75,000 Total collateral 3,322,283 253,171 739,606 255,173 312,972 147,980 139,362 802,788 144,559 99,256 122,066 37,775 267,570 FEDERAL RESERVE BASK NOTE STATEME2TT ON SEPTEMBER 27, 1933 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Qp. Dallas San Fran. Federal Reserve bank notes: 16,589 Issued to F.R.Bank( outstanding) 17^,721 13,368 62,943 8,592 21,833 — 5,3^2 32,830 3,015 2,0l4 973 7,222 2,633 367 Held by Federal Reserve bank 29,094 1,206 10,019 1,355 5,356 — 1,793 172 15 3,666 2,506 In actual circulation 1^5,627 12,162 52,924 7,237 16,477 — 2,709 31,031 2,648 1,842 95s 12,923 V716 Collateral pledged against outstanding notes: Discounted and purchased 136 bills 2,202 1,492 — 248 326 5,000 U.S. Govt, securities 201,674 20,000 64,274 10,000 25,000 — 6,000 4o,ooo 2,400 1,000 18,000 10,000 Total collateral 203,876 20,.000 64,274 10,000 26,492 6,24s 4o,ooo 5,326 2,.4oo 1,000 18,136 10,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis