H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT TOR THE PBESS Heleased for publication B-801 Saturday morning, Oct. ik; Federal Reserve Board not earlier* October 13, 1933* CONDITION OF FEDERAL RESSHVE BINES The daily average volume of Federal Reserve "bank credit outstanding during the week ended October ll as reported "by the Federal Reserve "banks, was $2,^52,000,000 f an increase of $26,000,000 compared with the preceding week and of $218,000*000 compared with the corresponding week in 1$32« On October 11 total Reserve bank credit amounted to $2,^77,000,000, an increase of $25,000,000 for the week. This increase corresponds with increases of $^,000,000 in member bank reserve balances and $21,000,000 in money in circulation, offset in part by an increase of $32,000,000 in Treasury currency adjusted, and a decrease of $5,000,000 in unexpended capital funds, nonmember deposits, etc* Bills discounted declined $1+,Q00,000 at all Federal Reserve banks. Holdings of bills bought in open market and of United States bonds shows" practically no change for the week, while holdings of United States Treasury notes increased $5,000,000 and of Treasury certificates and bills $30,000,000. Changes in the amount of Reserve bank credit outstanding tod in related items during the week and the year ended October 11, 1933> wore as follows: Increase or decrease since Oct. 11 Oct. U Oct. 12 J323 J32JL (In millions of dollars) Bills discounted 119 - U — 209 Bills "bought 7 — - 26 U. S, Government securities 2,3^ +35 + U93 Other Reserve "bank credit 7 - 3 - 15 TOTAL RESERVE BAM CREDIT 2,^77 +2S + 2U3 Monetary gold stock + 116 — Treasury currency adjusted 1,939 +32 + 71 Money in circulation 5,673 +21 22 Member "bank reserve "balances 2,567 + 321 Unexpended capital funds,nonmember deposits,etc. 500 - 5 + 37 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, Oct. lU 1933? n0"k earlier. I-SOla f ASSETS AM) LIABILITIES OE THE THIVS FEDERAL RSS3RVE BAMCS COMBINED (In thousands of dollars) Oct. 11,1933 Oct. 4,1933 Oct. 12, 1932 A S S E TS Gold with Federal Reserve agents . . . 2,661,809 2,679,077 2,198,090 Gold redemption fund with U.S.Treasury . 37,lug 36,273 47,610 gold held exclusively against E.R.notes 2,699,228 2,715,350 2,245,700 Gold settlement fund with E.R. Board . 641,427 626,415 299,056 Gold and gold certificates held by banks 249,560 250>020 38?1202 Total gold reserves 3,590,215 3,591,785 2,931,958 Other cash* . . . . 215,220 219,232 265,549 Total gold reserves and other cash . 3,805,435 3,811,017 3,197*507 Redemption fund - P. R. bank notes . . 10,515 9>839 Bills discounted: Sec. by U.S.Government obligations . 24,067 23,24l 103,286 Other bills discounted 95,240 99,743 224,381 Total bills discounted . . .. 119,307 122,984 327,667 Bills bought in open market . . . . .. 6,906 7,195 33,278 U. S. Government securities: Bonds 441,225 441,271 420,768 Treasury notes 976,162 971,411 390,578 Certificates and bills . . . . . .. 926.722 896,534 1,039,550 Total U.S. Government securities 2,344,109 2,309,216 1,850,896 Other securities . 1,737 1,837 5,422 Total bills and securities . . 2,472,059 2,441,232 2,217,263 Due from foreign banks . . . . . . .. 3,662 ^,238 2,698 E. R. notes of other banks 16,296 15,9^8 15,358 Uncollected items . . . . . . . . . .. 385,872 429,705 378,192 Bank premises . . . .. 54,6l4 54,6l4 58,134 All other assets . . . . . . . . . .. 58,372 56,850 %,251 TOTAL ASSETS . . .. 6,806,825 6,823,443 5,914,403 L I A B I L I T I ES F.R.notes in actual circulation . . .. 3,008,430 2,999,389 2,737,843 E.R.bank notes in actual circulation . 170,501 160,789 Deposits: Member bank - reserve account . . .. 2,567,360 2,523,409 2,245,791 Government . 63,117 98,045 50,058 Foreign bank 13,401 16,093 8,177 Special deposits - member bank . . 69,951 74,232 # nonmeniber bank . 15,858 15,232 Other deposits 55,372 53il28 53,071 Total deposits . . . .. 2,785,059 2,780,150 2,357,097 Deferred availability items . . . .. 384,498 425,678 364,264 Capital paid in . 145,617 145,605 153,040 Surplus 278,599 278,599 259,421 All other liabilities 34.121 33,233 42.738 TOTAL LIABILITIES . . . 6,806,825 6,823,443 5,31^,^03 Ratio of total gold reserves and other cash* to deposit and E.R.note liabilities combined . . . . . .. 65.9$ 62.8$ Contingent liability on bills purchased for foreign correspondents . . .. 38,469 40,549 45,227 * "Other cash" does not include E. R. notes or a bank's own E.R.bank notes* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BANKS ON OCTOBER 11, 1933 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila. CI eve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. Gold with Federal Reserve agents 2,661,809 221,329 591,706 ISO,500 208,770 123,000 93.590 7^0,7^7 116,721 69,369 99,290 36,464 180,263 Gold redemption fund with U.S.TreaS. 37,419 1,600 7,705 3,821 4,238 1,849 2,454 3,751 1,580 l,6o6 1,257 1.016 6,542 Gold held exclusively against F. R. notes 2,699,228 222,929 599,411 184,321 213,008 124,849 96,044 744,498 118,361 70,975 100,547 37,480 186,805 Gold settlement fund with F.R.Board 641,427 26,928 187,065 15,441 42,270 20,947 17,729 179,327 32,682 20,996 31,870 35,239 30,933 Gold and gold certif. held by banks ?4q 560 21,689 l46,104 15.580 4.460 1.424 3.781 5.512 390 433 11.865 "3.831 34.491 f Total gold reserves 3,590,215 271,5^6 932,580 215,342 259,738 147,220 117,554 929,337 151,433 92,4o4 144,282 76,550 252,229 other cash* 215.220 20,090 5^,295 55,839 21,564 10,373 10,254 30,420 8,698 5,670 7,921 6,033 14,063 Total gold reserves & other cash. 3,805,435 291,636 986,375 241,181 281,302 157,593 127,80s 959,757 160,131 98,074 152,203 82,583 266,292 Redemption fund - F.R.Bank notes 10,515 950 3,051 470 1,316 — 466 1,909 386 166 200 980 621 Bills discotinted: Sec. "by U.S.Government obligatioI:I S 24,067 1,111 12,174 ^,305 2,481 1,017 201 912 792 107 135 303 529 Other "bills discounted 95.240 3,135 27,613 22.570 7.695 7,736 5,505 4.894 1.17,2 3.043 3.369 2.148 6,360 Total bills discounted 119,307 4,246 39,787 26,875 10,176 8,753 5,706 5,so6 1,964 3,150 3,504 2,451 6,389 Bills bought in open market 6,906 457 2,195 657 613 242 217 si4 172 116 ISO 280 963 U. S. Government securities: Bonds 441,225 24,097 171,896 28,080 32,290 11,652 10,659 77,092 14,396 16,290 12,372 17,407 2244,,999944 Treasury notes 976,162 64,774 340,878 68,496 89,403 32,264 29,447 164,739 38,469 24,166 33,751 20,513 69,202 Certificates and bills 926,722 6o,so6 303,243 64,269 83,927 30,287 27,643 181,842 36,113 22,687 31,684 19,258 64,963 Total U.S.Govt, securities 2,344,109 149,677 816,017 160,845 205,620 74,203 67,7^9 423,733 83,978 63,143 77,807 57,178 159.159 Other securities 1,737 — 1,171 510 — — -- 56 — Total bills and securities 2,472,059 154,380 859,170 188,387 216,409 83,198 73,672 430,353 91,114 66,465 81,491 59,909 167,011 Dae from foreign banks 3,662 279 1,357 401 361 142 127 496 19 13 106 106 255 F. R. notes of other banks 16,296 1 315 3,880 469 749 1,090 1,036 3,335 797 445 1,672 252 1,656 Uncollected items 385,872 ^3,057 9^,723 30,164 35,63^ 36,49s 11,744 49,697 18,145 10,781 21,454 15,532 18,393 Bank premises.. 54,614 3,280 12,818 3,67s 6,929 3,23s 2,422 7,609 3,285 1,7^7 3,559 1,795 4,254 All other assets 53,372 753 34,256 ^,734 2.543 3,362 4,239 1,783 624 1.231 2,ook 1,251 1,032 TOTAL ASSETS 6,806,825 ^,655 1,996,130 470,034 545,24s 285,621 221,564 1,455,439 274,501 178,922 262,689 162,458459,514 * "Other cash" does not include 1F. 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 A2TD LIABILITIES OF THE FEDERAL RESERVE BANKS OU OCTOBER 11, 1933 L I A B I L.'I T I ES (In thousands of dollars) B-SOlc To tal Boston Hew York Phila. Cleve, Rich.. Atlanta Chicago St.Louis Minn. Kaas.Cy. Dallas San Fran. F.B.notes in actual circulation 225,113 648,204 240,223 283,971 753,901 138,811 94,643 109,002 33,574 217,84s j?„E;bank notes in actual circulation 170,501 11,000 52,375 9,21s 2b,199 6,061 31,007 4,239 2,331 3,741 15,919 7,911 Deposits: Member "bank - reserve account 2,5^7»3^0 175.651 99M26 130,137 141,732 74,505 }8,367 51^,373 76,792 52,409 107,915 76,186 164,667 Government 63,117 3,362 23,966 2,55s 3,342 3,s6o 3.559 7,711 4, 4 1 5 0 5 8 3,992 3,539 72 or 1 * 1,899 Foreign bank 13^01 976 4,493 l,4o4 1,324 522 463 1,739 30s 38S 3 00 936 Special deposits: member bank 63,551 1,059 6,211 9,056 7,311 2,936 2,129 30,012 4,ss6 1,601 ^96 449 3,405 nonmemb er b ank 15 * 258 — 737 1,829 170 S9S 236 5,359 3,677 355 1,369 2,65s 67s Other deposits 55,372 2,041 21,001 533 2,269 4,437 2,761 3,316 4,016 1,216 732 9,092 Total deposits 2,7 35,059 133,539 1,050,584 145,517 156,148 37,153 68,020 563,510 94,734 59,331 114,339 80,402 180,677 Deferred availability items 384,498 43,007 8G,222 23,411 35,335 35,937 11,360 50,137 21,433 10,540 21,887 17,309 20,870 Capital paid in 145,617 io,so4 53,437 15,770 12,367 4,957 4,577 13,103 4,015 2,87s 4,247 3.716 io,6s6 273,539 20,460 35,053 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 3,719 19,701 Surplus All otiter liabilities 34,121 677 13,190 1,653 2,884 qcig d o , r * o o d r* o 4,334 1,033 1,130 710 2,319 1,821 6,806,825 494,655 1,996,130 470,034 545,248 285,621 221,564 1,455,489 274,501 178,922 262,689 162,45s 459,514 TOTAL LIABILITIES Ratio of total gold reserves* and other cash* to deposit and F.R. note liabilities combined 65.7 71.4 53.1 62.5 63.9 67.9 68.6 72.9 68.6 63.5 68.0 72.5 66.8 Contingent liability on bills purchased for foreign correspondents 38,469 2,305 12,04: 4,039 3,309 1,500 1,346 5,001 1,30s SS5 1,116 1,116 2,693 MATURITY DISTRIBUTION OF BILLS AMD SHORT 1231.1 SECURITIES 91 days to )tal Within 15 days 16 to 30 days 31 to cO days 6l to 90 days Over 6 months 6 months a. Bills discounted 119,307 37,541 9,057 9,730 12,023 90 Bills "bought in open market 6,906 3,645 559 1,93b 716 Certificates and "bills 926,722 33,425 62,047 153,771 309,024 201,950 156,505 Municioal warrants 1,737 1,617 10 37 31 42 * I'Cther cash" does not include "2. R. notes or a "baric's own F. R. "baric notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE FOTE STATEMENT ON OCTOBER 11, 1933 (In thousands of dollars) B-801d Total Boston New York Phila. Cleve. Rich.. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issiied to F.R.bank by F.R.agent 3,.281,2^7 2^8,3^6 726,255 255,32s 293,1+93 153,^S7 132,516 79S,779 1^7,159 99,251 118,1+58 37,931 263,52^ Held by Federal Reserve tajik: 272,817 23,228 78,051 15,165 9,522 8,526 20,31+2 i4+,878 8,31+8 5,208 9,1+56 U,357 45,736 In actual circulation 3,008,430 225,118 61+8,20*+ 2^0,223 283,971 ii+l+,96i 118,17^ 753,901 133,811 9^,6^3 109,002 33,57^ 217,81+3 Collateral held by agent as security for notes issued to "bank: Gold and gold certificates 1,523,20U 714,012 523,606 97,^50 107,270 51,625 20,590 ^3,7^7 ^3,521 29,869 21,1+90 20,1+61+ 89,500 Gold f-und - F. R. Baard 1,132,605 1^7,317 68,100 83,050 101,500 71,375 73,000 297,000 73,200 39,500 77,200 16,000 90,763 Eligible paper 75,^35 2,21+1 26,872 11,777 2,1+23 5,291 3,690 2,01+9 1,476 1,1+32 2,1+69 2,287 6,828 U. S. Govt, securities 603,200 29,000 1^0,000 6*4,000 80,000 27,000 4U,000 60,000 30,000 29,200 20,000 80,000 Total collateral 3,31+0,1+1+1+ 252,570 752,572 256,277 297,193 155,891 11+1,280 802,796 11+8,257 100,001 121,759 32,751 267,091 FEDERAL RESERVE BAM NOTE STATEMENT 01 OCTOBER 11, 1933 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran,. Federal Reserve bank notes: Issued to F.H.Bank(outstanding) 19^,773 12,210 62,525 9,320 32,11+6 7,136 32,529 i+,U86 2,911 3,959 18,900 2,591 Held by Federal Reserve bank 2b,272 1,210 10,150 162 5.9^7 1,075 1,522 2I+7 80 218 2,921 680 In actual circulation 170,501 11,000 52,375 9,218 26,199 - 6,061 31,007 4,239 2,231 3,7^1 15,919 7,911 Collateral pledged against outstanding notes: Discounted and purchased bills 2,220 1,676 170 21+3 131 U.S.Govt. securities 221,37*4 20,000 61+^271+ 10,000 35,000 - 9,000 1+0,000 6,000 3,100 l+,000 20,000 10,000 Total collateral 223,59^ 20,000 61+.27H 10,000 36,676 9,170 •1+0,000 6,21+3 3,100 l+,000 20,131 10,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis