H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PSESS Released for publication B-SOl Friday morning, Nov* 2U; federal Reserve Board not earlier, November 23, 1933* CONDITION OP FSDEPjili RESERVE BALTICS The daily average volume of Federal Reserve bank credit outstanding during the week ended • November 22, as reported by the Federal Reserve banks, "was $2,57^ 000,000, a doer case of $3»000,000 coinpared vri.th the preceding week and an increase of $365,000,000 compared with the corresponding wee1? in 1932* On November 22 total Re servo bank oredit amounted to $2,5^2,000,000, a decrease of $2,000,000 for the week* This decrease corresponds with an increase of $30,000,000 in Treasury currency adjusted and a decrease of $14,000,000 in unexpended capital funds, nonmember deposits, etc , offset in part by an increase of # $42 ,000,000 in member bank reserve balances* The System*s holdings of discounted bills and of United States bonds show practically no change for the week, holdings of bills bought in open market increased $5,000,000 and of United States Treasury notes $9,000,000, while holdings of Treasury certificates and bills decreased $10,000,000* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended November 22, 1933# TOre as follows: Increase or decrease since Nov* 22 Nov. 15 Nov. 23 1933 1932 (In millions of dollars) Bills discounted 112 + 1 - 196 Bills bought 20 + 5 - 15 U. S. Government securities 2.U31 - 1 + 530 Other Reserve "bank credit - 1 - 7 - 9 TOTAL RESERVE BAM CREDIT 2,562 - 2 + 361 Monetary gold stock ,4,323 4- 1 + 3 Treasury currency adjusted 1,360 +30 + 35 Money in circulation 5,65^ —— + 19 Member bank reserve "balances 2.6S7 4^2 2S7 • + Unexpended capital funds,nonraembor deposits,etc. 50H -lH + 01* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday ruornin^, Fov. 24,1333; not earlier. B-S01~a ASSETS MD LIABILITIES OF THE TWELVE F3D32AL BESER'/E BAEICS C0MBIH3D (In thousands of dollars) 22,1221 rngov, 23i932 t A S S E TS Gold with. Federal Reserve agents # • • . 2#627,779 2.630,254 2,230,351 Gold redemption fund with U # S*Treasury # 40,018 Gold held exclusively against F»H«notes 2,666,297 2.668,439 2,270,369 Gold settlement fund with F«H.Board # # 66s,4o9 668,019 339,^7 Gold and gold certificatos held "by banks 24I,ojh 240,695 443,296 Total gold reserves 3,575,780 3,577.153 3,053,152 Other cash* 227,086 225,820 262,872 Total gold reserves and other cash 3,302,566 3,802,973 3,316,024 Redemption fund - F. E # bank notes . 11,85S II,693 Bills discounted: See. by U»S. Government obligations 2S,464 105,304 26,457 Other bills discounted . . . . .. 84,980 202,216 83.6SS Total bills discounted • • . . . 112,152, III,437 307,520 Bills bought in open market 20,294 15,180 34,646 U. S« Government securities: Bonds • • • • • • • • •• 442,212 1442,691 420,713 • • • • Treasury notes • • . • • 1,030.U73 1,021,001 368,677 Certificates and bills . 95M09 967,910 ko6i,359 Total U»S«Government securities 2,431,094 1,350,749 Other securities 1.580 2,431,602 5,350 Total hills and securities « 2,565.120 2,198,265 Due from foreign banks . , 3.579 2,559 3 , , 7 6 8 1 8 5 2,781 F. R # notes of other banks 16,65s 16,084 14,110 Uncollected items # « • . , 396,16s 526,891 333,500 Bank premises 58,169 5^,732 54,732 All other assets 119,689 39,259 TOTAL ASSETS 6,900,670 7,024,974 5,962,108 L I A B I L I T I ES F.H*notes in actual circulation . « 2,970,210 2,973.040 2,694,428 # F R.bank notes in actual circulation 200,697 194,950 # Deposits: Member bank - reserve account # # , 2,627,291 2,645,232 2,400,351 Government 31,216 64,220 25,942 Foreign bank • 8,324 7,532 29,869 Special deposits - member bank , . 57,269 65.529 nonmember bank 13,958 14,593 Other deposits • « • • « • • • •» 69.128 75,425 22,739 Total deposits . • • . » 2,s67,6s6 2,872,531 2,478,901 Deferred availability items • . . . 402,536 525,942 333,630 Capital paid in . . • 145.152 145,100 151,969 Surplus 278,599 278,599 259,421 All other liabilities 34,812 S3.759 35J2Q TOTAL LIABILITIES 6,900,670 7,024,974 5,962,10s Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities coribiiied 65.1$S 64.1$. Contingent liability on "bills purchased for foreign correspondents . 3,218 3,896 33,45s * "Other cash" does not include F. R. notes or a baulks own F.R.hank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS -43® LIABILITIES OF THE FEDERAL RESERVE BAMS OH NOVEMBER 22, 1933 A S S E TS (In thousands of dollars) B-801-b Total Boston Hew York phila. CI eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve agents 2,627,779 221,272 * 566,706 165,000 206,770 123,475 95.200 733»972 121,578 65,354 97.015 44,074 181,763 Gold redemption fund with U.S.Treas. 38,518 1,715 7,S6l 4,343 4,539 1,856 2,445 4,300 1,424 1,659 1,274 922 6,175 Gold held exclusively against F. R. notes 2,666,297 223,587 574,567 169,3^8 211,309 130,331 97,645 738,272 123,002 67,013 98,289 4444,,999966 118877,,993388 Gold settlement fund with F.R.Board 668,409 32.344 187,167 11,223 48,701 19,875 9.639 203.95s 29,930 16,206 31,698 34^832 42,836 Gold and gold certif. held "by banks 24l- 074 21,586 147.747 12,441 4,667 1.037 2,996 2,614 268 431 12,553 3,732 31.002 Total gold reserves 3.575.780 277.517 909,481 193,012 264,677 151,243 110,280 944,844 153,200 83,650 I42,5*K) 83,560 261,776 Other cash* 227,086 18,799 55,353 29,105 20,082 11,895 12,767 31,520 10,7^5 8,113 9,657 6,319 12,727 Total gold reserves & other cash 3,802,866 296,316 964,834 222,117 284,759 163,142 123.047 976,364 163,945 91,763 152,197 89,879 274,503 Redemption fund - F.R.bank notes 11,85s 1,250 3,185 935 1,466 250 281 2,000 361 260 500 764 606 Bills discounted: Sec. "by U.S.Govt, obligations 28,464 2,556 14,477 4,946 2,257 640 285 1,809 502 144 308 231 309 Other bills discounted 83,688 3,161 27,51^ 20,549 6,94o 6,100 5,95^ 4,471 723 2,837 2,371 650 2,35s Total bills discounted 112,152 5.717 41,991 25.^95 9,197 6,740 6,239 6,280 1.285 2,981 2,679 881 2,667 Bills bought in open market 20,294 1.177 7,963 1,652 1,596 644 580 2,092 529 381 473 491 2,716 U.S. Government securities: Bonds 442,212 24,389 170,046 28,069 32,160 11,861 10,792 76,951 14,494 16,307 13.508 18,525 25,110 Treasury notes 1.030.473 69,3-60 353,352 72,378 9^,122 34,712 31,463 173.353 40,958 25.650 36,080 24,953 73,^92 Certificates and bills 958,409 63.922 307,683 66,673 86,742 31,990 28,993 187,039 37,7^8 23,640 33,253 22,997 67,729 Total U.S.Govt, securities 2,431,094 157,671 831,681 167,120 213,024 78,563 71,248 437,3^3 93,200 65,597 S2,S4l 66,475 166,331 Other securities ly5S0 — 9^3 510 — — — — — 77 Total bills and securities 2,565,120 164,565 852,628 194,777 223,817 85,9^7 78,067 445,715 95,014 69,036 85.993 67,847 171,714 Due from foreign banks 3.579 285 1,215 4io 370 l46 131 508 22 108 108 261 F. R. notes of other banks 16,658 360 3,756 429 1,038 1,629 1.233 3.317 l,4n 487 882 157 1,909 Uncollected items 396,168 44,465 100,587 33,ooo 37,240 33.368 12,296 lis, 485 17,215 10,577 24,022 16,103 13,810 Bank premises 5^.732 3,280 12,818 3,791 6,932 3,238 2,422 7.609 3,285 1.7^7 3,559 1,797 Ksfr All other assets 49,689 449 28,072 4,584 2,121 3,330 3»S74 1,680 568 1,058 1.697 1,175 1.081 TOTAL ASSETS 6,900,670 510,970 1,997. ">95 460,043 557,793 291,050 221,351 1,485,678 281,821 174,943 268,958 177.830 ^73,138 * "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 A1TD LIABILITIES OF THE FEDERAL RESERVE BAMS Oil NOVEMBER 22, 1933 L I A B I L I T I ES (In thousands of dollars) B-801-c Total Boston New York Phila. Clevo. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,970,210 219,445 633,824 229,545 277,995 150,389 121,772 7*+8,84o 142,394 89.957 104,377 39,987 211,635 F.R.bank notes in actual circulation 200,697 20,663 52,772 15,362 26,399 M00 5.583 30,270 5.835 MU9 9.296 13,50s 11,760 JDepo sits: Member bank - reserve account 2,627,291 189.329 1,005.251 124,897 161,821 76,27^ 56,36s 556.839 84,388 55.040 112.39S 89.3^2 175,3^4 Government 31,216 1.3^3 2,311 1,008 2,1+83 970 695 12,168 1,211 731 905 1.379 6,012 Foreign bank 8,824 502 4,245 722 08I 26s 24l 894 234 15s 199 199 481 Special deposits: member bank 57.269 675 5,024 7.93^ 6,219 2,154 2,280 22,397 3.796 1,183 2,463 391 2,753 nonmember bank 13.95S 1,326 l,S4l 197 719 259 3.97^ H.674 295 33 640 Other deposits 69,128 2.103 3^121 750 4,784 4,118 1.325 M97 1.235 1.159 1,352 ll.lffig Total deposits 2,867,686 193,952 1,053,27s 137,152 172,927 85,169 63.961 597.597 98,500 58,642 117.157 92,663 196,688 Deferred availability items 402,536 44,832 98,629 31,568 36,859 33.355 12,210 51.214 19,826 10,595 24,816 17.S07 20,825 Capital paid in 145,152 10,851 53,471 15.737 12,357 ^.925 4,421 12,940 3.99S 2,856 4,242 3,725 10,609 Surplus 278,599 20,460 85,05s 29,242 28,294 11,616 10,544 39.^97 10,186 7.019 8,263 S.719 19,701 All otiier liabilities 35.790 757 15,053 1.^37 2,962 996 2,860 5.320 1,082 1.215 807 1,421 1.870 TOTAL LIABILITIES 6,900,670 510,970 1,997,095 460,043 557.793 291,050 221,351 1.^85,678 281,C21 17^.9^3 268,958 JL77,330 473,138 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 65.1 71.7 57.2 60.6 63.2 69.3 56.2 72.5 6S.1 61.8 68.7 67.8 67.2 Contingent liability on bills purchased for foreign correspondents 3,218 285 619 4l0 386 152 137 507 133 90 113 113 273 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Bills discounted 112,152 83,502 12,031 8,881 6,527 1,046 165 Bills bought in open market 20,294 3,511 5,170 5,287 6,176 150 Certificates and bills 958,409 121,149 233,928 170,443 82,083 194,300 156,506 Municipal warrants 1,580 1,486 14 69 11 * "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 NOVEMBER 22, 1933 (in thousands of dollars) B-SOl-d Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Qy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.agent 3.,235.008 239,967 713,113 246,593 292,1*90 152,611 1^1,9^1 735,983 150,971 95,219 112,704 ^3,95^ 253,262 Held by Federal Reserve bank 264,798 20,522 79,289 17,0^8 14,495 8,422 20,169 37,1^3 8,577 5,262 8,327 3,967 ^1,577 In actual circulation 2,970,210 219,41*5 633,824 229,5^5 277,995 150,389 121,772 7^8.840 142,394 89,957 104,377 39,987 211,635 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 1,513,604 7^,555 523,606 100,880 107,270 52,100 21,200 445,972 28,378 29,854 18,215 20,574 91,000 Gold fund - F. R. Board 1,114,175 147,317 43,100 64,120 99,^00 76,375 7^,000 288,000 93,200 35,500 78,800 23,500 90,763 Eligible paper s4,6io 4,652 34,017 12,789 8,702 5.32H 3,9^1 4,212 1,355 1,836 2,138 1,136 4,508 U. S. Govt, securities 573,600 i4,ooo 145,000 70,000 80,000 26,000 44,000 50,000 30,000 28,600 16,000 70,000 Total collateral 3,285,989 240,524 7^5,723 247,789 295,^72 159,799 1^3,141 788,184 152,933 95,790 115,153 ^5,210 256,271 FEDERAL RESERVE BAtTK NOTE STATEMENT ON NOVEMBER 22, 1933 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.C&r. Dallas San Fran, Federal Reserve bank notes: Issued to F.R.3ank(outstanding) 223,739 23,494 64,119 18,659 27,406 4,600 6,251 31,620 5,941 5,105 9,924 l4,6s4 11,936 Held by Federal Reserve bank 23,042 2,831 11,347 3,297 1,007 — 668 1,350 106 456 628 1,176 176 In actual circulation 200,697 20,663 52,772 15,362 26,399 4,6oo 5,583 30,270 5,835 4,649 9,296 13,508 11,760 Collateral pledged against outstanding notes: Discounted and purchased bills 1,863 1,512 182 169 U.S.Govt, securities 244,274 30,000 64^274 19,000 30,000 5,000 9,000 36,000 7,000 6,000 10,000 16,000 12,000 Total collateral 246,137 30,000 64,274 19,000 31,512 5,000 9,182 36,000 7,169 6,000 10,000 .16,000 12,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis