H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATELG3FT FOB THE PRESS Heloasod for publication B-301 Friday morning, Dec. 2; Federal Reserve Board not earlier* December 7, 1933 COHDITIOH OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve baric credit outstanding during the week ended December 6, as reported by the Federal Reserve banks, was $2603*000>000, an increase of $19,000,000 compared with the preceding week and of t $39^,000,000 compared with the corresponding week in 1932. On December 6 total Reserve bank credit amounted to $2 615,000,000, an increase ? of $3^,000,000 for the week, ©lis increase corresponds with increases of $15,000,000 in uioney in circulation and $1^4,000,000 in unexpended capital funds, nonmember deposits, etc , and a decrease of $15,000,000 in Treasury currency, ad- # justed, offset in part by a decrease of $12,000,000 in member bank reserve balances. Bills discounted declined $2,000,000 each at the Federal Reserve Bank of Boston and Hew York and $3,000,000 at all Federal Reserve banks* The System1s holdings of bills bought in open market increased $37*000,000 and of United States Treasury vjotes $21,000,000, while holdings of Treasury certificates and bills decreased $21,000,000 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 December 6, 1933t were as follows: Increase or decrease since Dec. 6 Nov. 29 Dec. J 1933 19?? 1932 (In millions of dollars) Bills discounted 116 - 3 - 183 Bills bought 61 +37 + 27 U. S* Government securities 2,^31 - 1 + 530 Other Reserve bank credit 7 7 TOTAL RESERVE 3MK CREDIT 2,615 +3*+ + klB Monetary gold stock M23 - 29 Treasury currency adjusted 1.892 -15 - 22 Money in circulation 5,758 +15 + 89 Member bank reserve balances 2,561 -12 + 166 Unexpended capital funds,nonmember deposits,etc 510 +1U + 113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Dec. 8,1933; n°t earlier. B-S01~a ASSETS AND LIABILITIES OF TIE TTfELTE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec. 6>1933 Nov. 29>1933 Dec. 7. 1932 . AS SJ T S Gold with Federal Reserve agents . . . # 2,6ii,s6i+ 2,618,251+ 2,281,059 Gold redemption fund with U # S # Treasury . >+2,1+79 1+0, 888 39.087 Gold held exclusively against F«R.notes 2.651+,3^3 2,659,11+2 2,320,11+6 Gold settlement fund with F* R. Board . 639.190 673,>+03 367,276 Gold and gold certificates held "by banks 279,31s 21+0,693 390,61+1 Total gold reserves . . . . . 3.572,351 3.573.23S 3,078,063 Other cash* . . . . . . .. . . .. . . . 206,530 204,583 258,378 Total gold reserves and other cash . . 3.777.821 3,336,1+Hl 3»779.38i Redemption fund - F. R. "bank: notes . . . 12,1+1+7 11.990 — Bills discounted: Sec. by U.S.Government obligations . . 33.2U4 36,959 95,513 Other bills discounted 82,317 82,082 203,105 Total bills discounted . . 115,561 119,01+1 298,618 Bills bought in open market . . . . .. 61,2Zk 23,866 33,717 U» S. Government securities: Bonds . . . . . . . . . . . . . . .. 1+1+2,172 1+1+2,675 1+20,637 Treasury notes • 11,,005555*.330000 1,03^,003 379,175 Certificates and bills • 933.525 95^.959 1,050,865 Total U»S« Government securities 2,^31,057 2,1+31,637 1,850,677 Oi<her securities • 1.599 1,580 5.337 Total bills and securities . . 2,609,501 2,576,121+ 2»188,31+9 Due from foreign banks « • . . • . .. 3.519 3,523 2,851+ R # notes of other banks . . . . .. lU,730 15.^ iU,I+36 Uncollected items • • • • • . * • • .. 321,61+3 375.332 323,983 Bank premises 5^.732 58,211 5^.79^ All other assets . * . * . . 4 . . . . 50,72*+ 50,Ul+2 ^0,351 6,906,799 6,865,398 5,961+,625 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,042,725 3f030,329 2,723,666 F. R. bank notes in actual circulation . 202,7*10 205,39*+ Deposits: Member bank - reserve account . . . .. 2,561,ISO 2,572,942 2,395,424 Government 92,400 81,519 30,237 Foreign bank 9,442 5»324 l4010 f Special deposits - member bank . . .. 55,101 55>006 nonmember bank . . 10,13*+ 14,331 Other deposits . Si, 183 67>352 26,425 Total deposits . . . . . .. 2,215,440 2,796,474 2,466,216 Deferred availability items . 379*250 373,730 312,6l4 Capital paid in . . . . .. 145,300 145,194 151f522 Surplus . . .. 273,599 272,599 259,421 All other liabilities 36,145 35,672 44.526 TOTAL LIABILITIES 6,906,799 6,265,392 5,96^,625 Ratio of total gold reserves and other cash* depOBit and F. R note # liabilities combined 64.5$ 64*2$ 64.3$ Contingent liability on bills purchased for foreign correspondents 2,394 2,293 36,117 * "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 AND LIABILITIES 0® THE FEDERAL BESEBVE BAMS OH DECEMBER 6, 1933 A S S E TS (In thousands of dollars) . B-S01~b Total Boston New York Phila. Cleve. Bicih. Atlanta Chicago St,Louis Minn. Kans.CJr. Dallas San Fran. Gold with Federal Beserve agents 2,611,864 217,872 523.706 166,230 214,770 131,475 95,880 747.972 123,578 67,254 97.290 44,074 181,763 Gc Id redemption fund with U.S.Treas. 42,479 1,659 11,532 4,437 4,961 1,569 2,899 4,125 1,U05 1.639 1,247 906 6,050 Gold held exclusively against E. B. notes 2,654,3^3 219,531 535,238 170,717 219-,731 133,044 98,779 752,097 124,983 68,893 98,537 44,980 187,813 Gold settlement fund with EJEt.Board 639,190 23,314 131,285 22,505 54*567 31,788 16,575 184,068 36,329 17,666 33,029 39.608 43,456 Gold and gold certif. held "by "banks 273,31s 21,734 188,070 11,801 4,783 1,082 2,332 3.010 290 556 10,908 3,718 31.034 Total gold reserves 3,572,851 264,579 854,593 205,023 279,081 165,914 117,686 939,175 161,602 87,115 142,474 88,306 267,303 Other cash* 206,530 15,167 50,219 28,056 17,274 10,150 13,227 27,923 9,609 8,151 9.3S4 5,665 11,705 Total gold reserves & other cash 3,779.381 279,746 904,812 233,079 296,355 176,o64 130,913 967,09s 171,211 95,266 151,858 93,971 279,008 redemption fund - F.B.bank notes 12,447 1,250 3,19s 1,115 1*505 244 208 2,050 456 4o6 587 763 665 Bills discounted: Sec. "by U.S.Govt, obligations 33,244 3,057 15,870 4,772 3,079 439 1,561 3,073 5S7 99 102 454 151 Other hills discounted 82.317 2.325 27.239 20.197 7-. 381 4,926 6,606 3,466 752 2,674 2.120 546 4,065 Total "bills discounted 115.561 5.382 43.109 24,969 10,460 5.365 8,167 6,559 1,339 2,773 2,222 1,000 4,216 Lills "bought in open market 61,284 3,216 24,063 3,854 5»4l4 2,269 2,64o 6,066 2,14s 1,739 2,628 1,822 5,425 U. S. Government securities: Bonds 442,172 24,390 170,0^6 28, 06s 32,162 ii,s6o 10,761 76,950 14,493 16,297 13,509 18,525 25,111 Treasury notes 1,055,300 71,113 361,379 74,207 96,501 35.539 32,25s 177,537 41,994 •26,29s 36,991 25,584 75,349 Certificates and "bills 933.585 62,16s 299,756 64,845 34,361 31,114 28.201 182,856 36,713 22,993 32,341 22,366 65,871 Total U.S.Govt, securities 2,431,057 157,671 831,681 167,120 213,024 78,563 71,220 437,343 93,200 65,588 32,841 66,475 166,331 Other securities 1.599 — 992 510 -- — — — —• 97 — — — Total bills and securities 2,609,501 166,269 899,845 196,453 228*S9S 36,197 82,027 449,96s 96,637 70,197 87,691 69,297 175,972 Due from foreign "banks 3.519 270 1,294 3SG 349 13s 123 481 10 102 102 247 P. B. notes of other hanks 14,730 309 3*957 388 975 1.109 1.245 2,697 1,184 500 823 274 1,269 Uncollected items 3Gl,6fa Hi,159 94,147 30*937 33,106 36,036 i4 f os4 46,422 17,414 10,061 22,680 16,550 19,047 Bank premises 54,794 3,280 12,818 3,S4I 6,932 3.238 2,422 7,609 3,235 1,747 3.571 1.797 4,254 All other assets 50,784 424 29.779 4,551 2,101 3,223 3.796 1,638 583 1,045 1,532 1,16s 944 TOTAL ASSETS 6,906,799 492,707 1,9*19,850 470,752 570,2a 306,249 234,818 1,477,963 290,835 179.232 263,844 123,922 4Sl,4o6 * "Other cash" does not include ]?„ B. notes or a bank»s own P. B. tank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE SINKS OH DECEM3ER 6, 1933 L I A B I L I T I ES (In thousands of dollars) B-SQl-c Total Boston Hew York Phila* Cleve. Rich Atlanta Chicago St Louis Minn* Kans.Cy. Dallas San Fran. # # F # R.notes in actual circulation 3,042,725 226,981 652,733 232,976 235,673 155,330 123,499 765,929 144,264 92,101 106,519 4i,4l6 215,304 F R "bank notes in actual circulation. 202,740 21,129 53,16s 20,191 26,232 4,594 5,520 30,002 6,44o 6,020 9,602 12,S6S 12,974 # # Deposits: Member bank - reserve account 2,561,120 15s,SSI 905, S97 126,773 167,515 S2,210 59,469 530,064 91,170 55,275 110,l4s 95,391 17S,3S7 Government 9S,400 9,632 29,575 3,9SS 5,SoS 3,376 7,057 24,714 970 2,44o 3,033 1,12S 6,099 Foreign "bank 9,442 305 0,661 439 413 163 146 543 142 96 121 121 292 Special deposits: member bank 55,101 64o 5,o4s 7,660 5,956 2,135 2,319 ,20,521 3,950 1,130 2,445 330 2,917 nonmember bank 10,134 — 1,562 1,857 169 755 296 4 *W5 289 36 591 Other deposits 81,183 1,558 46,218 660 1,918 4,151 5,131 1,124 4.494 1,393 765 1,154 12.617 Total deposits 2,815,440 171,016 99^,961 J-4l,377 181,859 93,290 74,418 576,970 105,301 60,673 116,548 98,124 200,903 Deferred availability items 379,850 41,250 89,824 29,553 32,834 35,^97 13*57^ 47,768 19-520 9,230 22 s 733 18,057 20,010 Capital paid in 145,300 10,872 . 58,443 15,929 12,330- 4,919 4,423 •12,-J22 3,99^ 2,874 4,235 3,724 10,635 Surplus 278,599 20,460 85,05s 29,242 28,294 11,616 10,544 ••39,497 10,186 7,019 8,263 8,719 19,701 All otlier liabilities ?6,i45 999 l,4s4 2,999 1,003 2,840 4,875 1,130 1,315 944 1,014 1,879 TOTAL LIABILITIES 6^906,799 70? ^70,752 570,221 306,2^9 23M1S 1,^77,963 290,835 179,232 26s,8bk 183,922 U8lHo6 f Ratio of total gold reserves and other cash* to deposit and F R, # note liabilities combined &W5 70.3 5M 62 # 3 S3.k 70.S 66 # l 72*0 68*6 S2.k 68.1 67*3 67 # 0 Contingent liability on bills purchased for foreign correspondents 2+SSk 211 567 30H 286 113 101 376 98 67 8U 8k 203 MAJORITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Ifithin 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months| 6 months Bills discounted 115,561 89,236 8,105 7,770 7,90U 1,176 1,370 Bills bo-aght in open market 61,28*+ 27,^32 8,308 5,565 19,309 .270 Certificates and bills 933,585 230, i*29 97,095 11s,251 us, 230 213,07^ 156,506 Municipal warrants it 599 27 S3 36 * "Other cash11 does not include F. H. notes or a "bank*s ovm F. 2. "bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 110TE STATEMENT OH DECEMBER 61,9 33 (In thousands of dollars) 3-801-d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cbr. Dallas San Fran. federal Heserve notes: Issued to F # H # barik: "by F.E.agent 3,30a t 9Sl 2l+3„i6o 732,709 247,580 306,6S9 162,3US 143,196 803,074 151,353 96,205 113,533 45,742 256,392 Held by Federal Heserve "bank 259,256 16,179 79,976 l4,6o4 21,016 7.018 19.697 37,145 7,0S9 4,io4 7.014 4,326 41.085 In actual circulation 3,0^2,725 226,981 652,733 232,976 285,673 155,330 123,^99 765,929 144,264 92,101 106,519 4i,4i6 215,304 Collateral held by agent as security for notes issued to bank •« Gold and gold certificates 1,475,189 7^,555 483,606 101,610 107,270 52,100 21,880 445,972 28,378 29,75^ 18,490 20,574 91,000 Gold fund - F # R. Board 1,136,675 143,317 40,100 64,620 107,500 79,375 74,000 302,000 95,200 37,500 78,800 23,500 90,763 Eligible psqper 131,210 7,152 51,793 14,147 13,661 5,906 7,797 9,4I4 3,043 3,063 3,9^8 2,569 8,717 U. S. Govt, securities 616,000 19,000 185,000 68-000 80,000 26,000 48,000 50,000 27.000 27.000 16.000 —— 70.000 Total collateral 3,359,074 244,024 760,499 248,377 308,431 163,381 151,677 807,386 153,621 97,317 117,238 46,643 260,4so FEDERAL HESERVE BAM BOTE STATEMENT 01T DECEMBER 6, 1933 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Heserve bank notes: Issued to F # E # I3ank(outstanding) 22S,72S 23,205 63,632 22,242 27,245 4,59^ 5,84s 31,170 6,656 6,441 9,887 1^,353 13,455 Held by Federal Heserve bank 19,988 2,076 10,464 2,051 1,013 —* 328 l,l6S 216 421 2S5 1,485 481 In actual circulation 208,740 21,129 53,168 20,191 26,232 4,594 5,520 30,002 6,44o 6,020 9,602 12,868 12,97^ Collateral pledged against outstanding notes: Discounted and purchased bills 2,034 — — 1,620 — 258 156 —— — — _ U # S # Govt # securities 252,274 30,000 64,274 23,000 30,000 5,000 7,000 36,000 8.000 8.000 10.000 16.000 15.000 Total collateral 25U,30S 30,000 64,274 23,000 31»620 5,000 7,258 36,000 8,156 8,000 10,000 16,000 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis