H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B~801 Friday morning, Dec. 15; Federal Reserve Board not earlier December lU, 1933• # C0EDITI01T OF FEDERAL RESERVE BBSS The daily average volume of Federal Reserve "bank credit outstanding during the week ended December 13, as reported "by the Federal Reserve "banks, was $2,667,000,000, an increase of $64,000,000 compared with the preceding week and of $^731000,000 compared with the corresponding week in 1932 • On December 13 total Reserve bank credit amounted to $2,677*000*000, an increase of $62^000,000 for the week. This increase corresponds with increases of $771000,000 in member bank reserve balances, $5,000,000 in money in circulation, and $5,000,000 in unexpended capital funds, nonmember "deposits, otc«, offset in part by an increase of $2^,000,000 in Treasury currency, adjusted* Bills discounted increased $2,000,000 each at the Federal Reserve banks of Boston and Hew Yor.:i and a like amount at all Federal Reserve banks* The System's holdings of bills bought in open market increased $55,000*000 and of United States bonds $1,000,000, while holdings of Treasury c:crtificates and bills and of United States Treasury notes were practically unchanged. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 13, 1933t were as follows: Increase or decrease since Dec. 13 Dec 6 Dec. # 1933 1932 (In millions of dollars) Bills discounted 118 + 2 — 166 Bills bought 116 +55 + 82 U. S. Government securities 2,432 + 1 + 581 Other Reserve bank credit 11 + 4 9 - TOTAL R3S2RVE BAM CREDIT 2,677 +62 + 1+88 Monetary gold stock ^,323 4-5 — Treasury currency adjusted 1,916 +24 8 - Money in circulation 5,763 + 5 + 100 Member bank reserve balances 2,632 +77 + 213 Unexpended capital funds,nonmombor deposits,etc. 515 + 5 + 122 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Decembor 15,1933;not earlier, B-SOl-a ASSETS ATD LIABILITIES OF THE TWELVE FEDERAL .RESERVE BAI'KS C01IBI1TED (In thousands of dollars) Dec, 13,1933 Dec. 6,1933 Dec. 14, 1932 A S S E TS Gold with Federal Reserve aeents . . , 2,617,934 2,611,364 2,282,899 Gold redemption fund v7ith U.S.Treasury 44,292 42,479 38,931 Gold held exclusively against F.R.notes 2,662,226 2,654,343 2,327,830 Gold settlement fund with F.R.Board . 628,665 639,190 370,791 Gold and gold certificates held by banks 280,714 279,318 394,716 Total gold reserves 3,571,605 3.572,851 3,093.337 Other cash* 216,680 206,530 260,219 Total gold reserves and other cash . 3,788,285 3,779,381 3,353,556 Redemption fund - F.R. bank notes , . 13,527 12,447 Bills discounted: Sec. by U.S. Government obligations . 38,1+58 33,241+ 87,953 Other bills discounted 79,726 82,317 196,520 Total bills discounted . . .. 118,184 115,561 284,1+73 Bills bought in open market 116,158 61,284 33,769 U. S. Government securities: Bonds Ul+2,713 1+42,172 1+20,669 Treas-ury notes . . . . . . .. , . . 1,055,300 1,055,300 357,448 Certificates and bills 933,595 933,585 1,072,609 Total U.S.Government sGCurities . 2,431,608 2,431,057 1,850,726 Other securities . . . .. 1,585 1,599 5,378 Total bills and securities . .. 2,667,535 2,609,501 2,174,3^ Due from foreign banks 3,517 3,519 2,781 F. R. notes of other banks . . . . .. 15,043 l4,730 13,455 Uncollected items 431,482 381,643 407,925 Bank premises 54,804 54,794 £8,211 All other assets 53,639 50,784 42.889 TOTAL ASSETS 7,027,832 6,906,799 6,053,163 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,038,172 3,042,725 2,713,935 F.R. bank notes in actual circulation . 208,853 208,740 Deposits: Member bank - reserve account . . .. 2,637,936 2,561,180 2,424,532 Government 93,?l4 98,400 23,700 Foreign bank 14,478 9,442 10,293 Special deposits - member bank . . . 53,931 55,101 nonmember bank . 10,264 10,134 — Other deposits 81,085 81,183 26,349 Total deposits 2,891,608 2,815,440 2,484,874 Deferred availability items . . . .. 425,430 379,850 396,415 Capital paid in 145,300 145,300 151.415 Surplus 278,599 278,599 259,421 All other liabilities 39,870 36,145 47,103 TOTAL LIABILITIES . . .. 7,027,832 6,906,799 6,053,163 Ratio of total gold reserves and other cash* to deposit and F. R. note liabilities combined 63.9$ 64.5$ 64.5$ Contingent liability on bills purchased for foreign correspondents 2,894 2,894 35,911 * "Other cash" does not include F. 3. 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 OP THE FEDERAL RESERVE BAKES ON DECEMBER 13, 1333 A S S E TS (In thousands of dollars) B-801~b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. Gold with Federal Reserve agents 2,617,934 191,172 563,706 172,000 214,770 131,475 90,830 737,972 125,578 67,254 97,290 44,074 181,763 Gold redemption fund with U.S.Treas. 44,292 2,126 11,400 4,354 4,932 1,801 3,383 5,078 1,395 1,635 l>24l 904 6,043 Gold held exclusively against F. R. notes 2,662,226 193,298 575,106 176,35*+ 219,702 133,276 9944,,226633 743,050 126,973 6688,,888899 98,531 4444,,997788 118877,,880066 Gold settlement fund with F.R.Board 628,665 22,268 157,742 20,510 53,322 30,088 11,69s 169,449 36,17s 14,13s 28,879 43,380 41,013 Gold and gold certif. held by banks 280,714 21,S40 188,890 11,857 4,833 1,100 2,357 3,189 313 564 10,921 3,725 31,125 Total gold reserves 3,571,605 237,406 921,738 208,721 277,857 164,464 108,318 915,688 163,464 83,591 138,331 92,083 259,944 Other cash* 216,680 17,782 53,621 28,920 15,984 10,218 12,812 28,126 11,173 8,327 9,572 6,225 13,920 Total gold reserves & other cash 3,788,285 255,188 975,359 237,641 293,s4i 174,682 121,130 943,814 174,637 91,918 147,903 9S,30S 273,864 Redemption fund - F. R. bank notes 13,527 1,250 2,907 1,260 1,45s 239 1,15S 2,2S1 403 397 56s 874 732 Bills disco-anted: Sec. by U.S.Govt, obligations 38,458 4,183 18,131 5,180 4,136 , 727 1,729 2,943 634 76 116 445544 114499 Other bills discounted 79,726 2,412 26,879 20,350 6,S1S 4,828 5,690 3,310 760 2,194 1,991 529 3,965 Total bills discounted 118,184 6,595 45,010 25,530 10,954 5,555 7,419 6,253 1,394 2,270 2,107 983 4,114 Bills bought in open market 116,158 28,049 13,241 8,726 11,756 5,034 5,245 13,044 5,051 4,209 5,510 4,186 12,107 U. S. Government securities: Bonds 442,713 24,390 170,046 2S,06S 32,162 11,860 10,813 7766,,995500 1144,,449922 1166,,228877 1144,,000099 18,525 25,111 Treasury notes 1,055,300 71,113 361,879 74,207 96,501 35,589 32,257 177,537 41,994 26,29s 36,992 25,584 75,349 Certificates and bills 933,595 62,16s 299,756 64,845 34,361 31,114 28,201 182,856 36,714 23,003 32,340 22,366 65,871 Total U.S.Govt, securities 2,431,60s 157,671 331,631 167,120 213,024 78,563 71,271 437,343 93,200 65,588 83,341 66,475 166,331 Other secvirities 1,585 —— 992 510 > • — —. 83 — Total bills and securities 2,667,535 192,315 890,924 201,886 235,73*+ 89,152 83,935 456,64o 99,645 72,150 90,958 71,644 182,552 Due from foreign banks 3,517 270 1,292 3SS 349 138 123 481 15 10 102 102 247 F. R. notes of other banks 15,043 337 4,016 385 787 1,180 1,171 2,460 771 637 1,336 290 1,673 Uncollected items 431,482 46,073 111,506 3-8,825 40,768 37,267 13,259 51,602 19,356 10,157 23,252 16,398 23,019 Bank premises 54,804 3,280 12,818 3,841 6,932 3,238 2,422 7,609 3,285 1,747 3,571 1,797 4,264 All other assets 53,639 421 30,762 6,129 2,084 3,214 3,774 1,688 549 i,46o 1,483 1,149 926 TOTAL ASSETS 7,027,832 499,134 2,029,584 490,355 581,953 309,110 226,972 1,466,575 298,661 178,476 269,173 190,562 1+87,277 * "Other cash" does not include F. R. notes or a bank1 s own F. R. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OF THE FEDERAL RESERVE BANES ON DECEMBER 13, 1933 L I A B I L I T I ES (In thousands of dollars) B~801c Total Boston Hew York Phila* Cleve* Rich. Atlanta Chicago St .Louis Minn* Kans.Qy, Dallas San Fran. F.R.notes in actual circulation 3,03S172 227,^68 6UU,113 23^,682 287,832 157,^80 122,532 768,571 1^3,730 90,930 105,965 Ul,5^7 213,322 f F.R.barjk notes in actual circulation. 20s,353 20,087 52,91*+ 21,707 25,926 ^,589 5,398 29,695 6,1+82 6,516 9,633 12,1+67 13,^39 Deposits: Member "bank - reserve account 2,637,936 170,167 96i+,7l+i 13^,599 170,691 82,113 60,123 509,713 96,581 5^,775 113,023 102,072 179,338 Government 93,9W 653 1+2,302 3,425 5,672 i+,026 1,579 25,209 1,032 1,977 913 1,1+13 5,113 Foreign tank ll+,l+78 305 11,697 1+39 1+13 163 11+6 51+3 1U2 96 121 121 292 Special deposits: member bank 53»931 576 5,072 7^96 5,818 1,782 2,351 20,15s 3,907 1,081 2,395 3lK) 2,955 nonmember bank 10,261+ — 1,528 1,751 163 700 266 3 ^,770 306 1+5 — 732 Other deposits SI,085 1,662 1+1,892 695 1,55^ 3,967 i+,68l 1,231 5,819 1,1+1+1 1*1+0 1,251 16,1+52 Total deposits 2,891,608 173,363 1,067,232 lU8,U05 lSl+,311 92,751 69,11*6 557,^57 112,251 59,676 116,937 105,197 20l+,882 Deferred availability items 1+25,1+30 1+5,81+2 iol+,677 37,355 1+0,163 36,75^ 12,055 53,257 20,850 10,218 22,996 17,901 23,362 Capital paid in 11+5,300 10,869 58,^37 15,918 12,356 ^,933 M23 12,901 3,99s 2,876 l+,230 3,726 10,633 Surplus 278,599 20,1+60 85,058 29,21+2 28,291+ 11,616 10,51+1+ 39,^97 10,186 7,019 8,263 8,719 19,701 All other liabilities 39,870 1,01+5 17,153 3,oi+6 3,071 9S7 2,871+ 5,197 1,161+ 1,21+1 l,ll+9 1,005 1,938 TOTAL LIABILITIES 7,027,832 1+99,13^ 2,029,581+ 1+90,355 581,953 309,110 226,972 1,1+66,575 298,661 178,1+76 269,173 190,562 1+87,277 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 63.9 63.7 57.0 62.0 62.2 69.8 63.2 71.2 68.2 61.0 66.1+ 67.0 65.5 Contingent liability on bills purchased for foreign correspondents 2,89^ 211 968 30U 286 113 101 376 98 66 84 sk 203 MATURITY DISTRIBUTION OF BILLS AilD 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 118,18^ 90,302 7,^55 8,1*53 9,350 1,259 1,365 Bills bought 116,158 35,2*40 9,231 30,61*7 1+0,516 52k Certificates and bills 933,595 280,27*+ 79,500 98,711 ll+l+,90l+ 173,700 156,506 Municipal warrants 1,585 1,^39 *+7 63 36 # "Other cash" does not include P. K, notes or a bank's oim F. R. "bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT Oil DECEMBER 13, 1933 (In thousands of dollars) B-SOld Total Boston Mew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank "by F.R.agent 3,31*+,1+62 21+8,291 727»705 250,56s 308,717 16^,9^1 11+3,1+87 807,273 150,867 95,837 113,970 1+7,01+2 255,761+ Held by Federal Reserve bank 276,290 20,823 83,592 15,SSb 20,885 7,1+61 20,955 38,702 7*137 H,907 8,005 5,1+95 1+2,1+1+2 In actual circulation 3,038,172 227,1+68 61+1+,113 23I+,682 287,832 157,1+SO 122,532 768,571 1^3,730 90,930 105,965 1+1,51+7 213,322 Collateral held by a.~ent as socurity for notes issued to bank: Gold and gold certificates 1,1+75,189 7^,555 1+83,606 101,610 107,270 52,100 21,880 1+1+5,972 28,378 29,75^ 18,1+90 20,57!+ 91,000 C-old fynd - F. R. 3oard l,ll+2,7l+5 116,617 80,100 70,390 107,500 79,375 69,000 292,000 97,200 37,500 7S,800 23,500 90,763 Eligible paper loo,900 33,213 1+2,836 19,156 20,510 8,81+9 9,7^1+ 16,227 5,9SS 5,39^ 6,760 i+,926 15,297 U.S. Govt, securities 585,000 27,000 11+0,000 60,000 50,000 26,000 Us,000 70,000 21,000 27,000 16,000 70,000 Total collateral 3.39M31* 251,3S5 7^6,51+2 251,156 315,280 166,321+ li+S,62l+ 824,199 152,566 99,61+8 120,050 1+9,000 267,060 FEDERAL RESERVE 3AHK 1T0TE STATEIETT 01T DECEMBER 13, 1933 (In thousands of dollars) Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Sans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.Bank(outstanding) 231,1+99 23,01+8 61+,ll+l ?1+,130 27,198 l+,589 5,798 30,901 6,683 7»132 9,868 13,669 ll+,3U2 Held by Federal Reserve bank 22,61+6 2,961 U,227 2,1+23 1,272 — 1+00 1,206 201 6l6 235 1,202 903 In actual circulation 208,853 20,087 52,914 21,707 25,92b 4,589 5.39S 29,695 6,1+82 6,516 9,633 12,1+67 13.U39 Collateral pledged against outstanding notes: Discounted and purchased bills 2,01+6 l,6os 266 172 U.S. Govt, securities 25l+,27*+ 30,000 6i+,27^ 25,000 30,000 5,000 7,000 36,000 8,000 8,000 10,000 16,000 15,000 Total collateral 256,320 30,000 6i+,27i+ 25,000 31,603 5,000 7,266 36,000 8,172 8,000 10,000 16,000 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis