H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SIATEMT FOR THE PHSSS Released for publication 3-801 Friday morning, Dec. 22; Faderal Reserve 3oard not earlier December 21, 1933 # COiTDI'TTOl-T OF FSDERA1 HES3R73 BJffiES The daily average volume of Federal Reserve bank credit outstanding during the week ended December 20 as reported by the Federal Resjrvo banks, was f $2,687,000,000, an increase of $20000000 coraoared with the preceding week and of f f j000,000 compared with the corresponding week in 193 On December 20 total Reserve bank credit amounted to $2,Ss6,000,000, an increase of $9,000,000. for the week This increase corresponds with an increase of # $86,000,000 in money in circulation offset in part by an increase of $5^,000,000 in Treasury currency, adjusted, and decreases of $21,000,000 in unexpended capital funds, nonmember deposits, etc., and $2,000,000 in member bank reserve balances. The System* s holdings of bills discounted and of bills bought in open market decreased $3,000,000 each. Holdings of the various classes of United States Government securities were practically unchanged* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 20, 1933> were as follows: Increase or decrease since Dec. 20 Dec. 13 Dec. 21 1933 1933 1932 (In millions of dollars) Bills discoimted 115 " 3 - 155 Bills "bought + 80 113 - 3 U» S. Government securities 2,^32 + 5S1 Other Reserve "bank credit 25 TOTAL RESERVE BAM CREDIT 2,6S6 + 9 + 506 Monetary gold stock 4,323 - 165 Treasury currency adjusted 1,970 +54 + 60 Money in circulation 5,SU9 +S6 + 119 Member bank reserve balances 2,636 - 2 + 190 Unexpended capital funds,nonmember depo3-its>etc ksk -21 + 93 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Fri:la;/ morning, December 22, 1933;not earlier. B~S01-a ASS3TS A3D LIABILITIES OF TB3 T1SEL7E F3DE5SAL H3333VE BAKKS COMBINED (In thousands of dollars) Doc. 20,1933 Doc. 13t1933 Dec. 21, 1932 A S S E TS Gold with Federal Reserve agents . . . 2,599,939 2,617,93^ 2,297,515 Gold redemption fund with U.S.Treasury 46,oio 44,292 to, 350 Gold held exclusively against F.R.notes 2,645,999 2,662,226 2,337,865 Gold settlement fund with F*R. Board . 6^3,750 321,91+2 62.3,665 Gold and gold certificates held by hanks 230,335 451,814 280,714 Total gold reserves . . .. 3,570,os4 3,111,621 3,571,605 Other cash* 191,724 239,604 216,680 Total gold reserves and other cash 376l,SOS 3,351,225 t 3,738,285 Redemption fund - F.R. bant notes . . 13,S36 13,527 Bills discounted: Sec. by U»S.Government obligations 33,529 33,458 77,373 Other bills discounted . . . . .. 76,659 . 72*126 192,937 Total bills discounted . . . 115,188 118,184 270,315 Bills bought in open market . . .. 113,375 116,158 33,221 U. S. Government securities: Bonds . . . . . . . .. 442,709 442,713 420,703 Treasury notes 1,053,704 1,055,300 286,90s Certificates and bills . . . . .. 935,125 933,595 1,143,088 Total U.S.Government securities 2,431,59s 2,431,608 1,350,699 Other securities . . . . . . . . .. 1,494 _ 1x515. 5.571 Total bills and securities . . 2,661,655 2,667,535 2,159,806 Gold held abroad . . . . . . . . .. 95,550 — Dae from foreign "banks • 3,33^ 3,517 2,868 F. R. notes of other banks . . . . . 17,061 15,043 13,556 Uncollected items . . . . y+4,233 431,482 358,810 Bank premises 54,804 ^4,804 58,212 All other assets . . . . . . . . .. . ^5,101 53.632, 35,302 TOTAL ASSETS 7,001,832 7,027,832 6,075.329 L I A B I L I T I ES F. R. notes in actual circulation . . 3,091,871 3,038,172 2,756,363 F. R. bank notes in actual circulation 212,839 208,853 — Deposits: Member bank - reserve account . . . 2,635,63s 2,637.936 2,446,056 Government 43,831 93,91^ 36,249 Foreign bank 4,673 14,478 19,221 Special deposits - member bank . . 51,303 53,931 — nonmember bank 10,207 10,264 Other deposits . . . . . . . . .. 66,128 81,085 19,872 Total deposits 2,811,780 2,391,608 2,521,393 Deferred availability items . . .. 423,609 425,430 341,SS4 Capital paid in 144,926 145,300 151,33^ Surplus . . . . . . . . . . . . .. 272,599 273,599 259,421 All other liabilities . . . . . . .. 38,208 ,39,370 45,429 TOTAL LIABILITIES . . .. 7,001,832 7,027,832 6,075,329 Ratio of total gold reserves arid other cash* to deposit and F.R. note liabilities combined . . . 63.7$ 63.9$ 63.5$ Contingent liability on bills purchased for foreign correspondents . . . . . 3.659 2,894 36,171 * Nnthar cash" does not includc F- R. tcs or a "bank's own F.R.'banls: notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS iiro LIABILITIES OF THE FEDEItAl EESE3VE 3A1IKS Oil DECEMBER 20, 1933 A S S E TS (In thousands of dollars) 3-S01-b Total Boston ITew York PMla. Clove. Rich. Atlanta Chicago St.Louis Llinn. Kans.Cy. Dallas San Fran. Gold with. Federal Reserve agents 2,599,529 193,172 563,706 174,000 214,770 136,475 90.8SO 710,937 122,613 ' 65,251* 97,290 44,074 131,763 Gold redemption fund with U.S.Treas. 46,010 2,0Ug 11,216 4,315 5,331 1,757 3,327 7,013 1,353 1,630 l,2l4 833 5,913 Gold held exclusively against F. R. notes 2,645,999 200,220 574,922 173,315 220,101 133,232 94,207 718,005 123,971 66,884 9933,,550044 44,957 137,681 Gold settlement fund with F.S.Board 643,750 25,804 134,473 19,226 63,357 28,144 13,339 190,706 37,219 16,227 30,004 44,353 40,393 Gold and sold certif. held by banks 280,335 21,969 189,276 11,934 4,866 1,077 2,072 2,489 307 552 10,927 3,733 31,133 Total gold reserves 3,570,034 247,993 898,671 209,475 288,324 lb7,453 109,618 911,200 161,497 83,663 139,435 93,5^3 259,212 Other cash* 191,724 16,060 44,102 29,539 13,600 3,491 10,463 26,562 10,146 8,037 9,10s 5,644 9,922 Total gold reserves & other cash 3,761,808 264,053 942,773 239,064 301,924 175,944 120,081 937,762 171,643 91,700 148,543 99,137 269,134 Redemption fund - F.R. bank notes 13,336 1,250 3,239 1,310 1,31s 233 1,064 2,131 500 596 552 Sl4 S29 Sills discounted: Sec. by U.S.Govt, obligations 33,529 5,033 19,06s 6,048 2,848 519 44s 3,039 774455 95 127 44oo44 155 Other bills discounted 76,659 2,507 27,532 20,224 6,116 4,612 5,626 3,l6l 705 1,932 1,766 505 1,373 Total bills discounted 115,138 7,5^0 46,650 26,272 8,964 5,131 6,074 6,200 1,450 2,077 1,393 909 2,02S Bills bought in open market 113,375 26,903 9,531 7,318 12,99s 4,305 4,756 14,174 4,S72 4,249 5,617 4,999 13,153 U. S. Goverxment securities: Bonds 442,709 24,389 170,046 28,063 32,161 11,861 10,736 76,950 14,492 16,30s 14,009 is,52s 25,m Treasury notes 1,053,704 71,000 361,368 74,083 96,347 35,532 32,206 177,26s 41,927 26,264 36,933 25,5^2 75,229 Certificates and bills _ 935,135 62,282 300,267 64,964 84,516 31,169 28,252 133,125 36,731 23,034 32,399 22,405 65,991 Total U.S. Govt, securities 2,431,598 157,671 831,681 167,120 213,024 73,562 71,244 437,343 93,200 65,606 33,341 66,475 166,331 Other securities 1,494 904 510 80 — —. — — — ™ Total bills and securities 2,661,655 192,114 333,766 201,720 234,936 37,993 82,074 457,717 99,522 72,012 90,351 72,383 181,512 Due from foreign banks 3,334 270 1,108 389 349 13s 123 431 15 10 102 102 247 r. R. notes of other banks 17,061 3H7 3,764 409 1,033 1,150 971 3,693 1,218 656 1,496 313 2,011 Uncollected items 444,233 ^6,735 107,5^3 36,446 40,459 37,333 16,23s 57,339 23,120 n,557 27,9^1 17,202 22,320 Bank premises 54,804 3,280 12,818 3,341 6,932 3,23s 2,422 7,609 3,285 1,747 3,571 1,797 4,264 iJ.1 other assets 4^.101 425 24.028 4.504 2,122 3.205 3,7 36 1,549 530 1.501 1,429 1,092 930 TOTAL ASSETS 7,001,832 503,474 1,984,039 487,633 589,123 309,239 226,759 1,463,231 299,333 179,779 274,435 192,390 431,24-7 * "Other cash" does not include F. E. notes or a "bank's own F. R. ban!.:: notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMKS OH DECEMBER 20, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOl-c Total Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,091,871 234,777 655,329 236,660 292,403 160,29s 125,ISO 782,398 1^5,679 93,^05 107,645 ,42,914 215,123 F.R.barik notes in actual circulation 212,839 20,478 54,007 22,214 25,968 4,559 5.216 29,536 7,560 7,359 9,652 12,121 14,119 Deposits: Member "bank - reserve account 2,635,633 16S,331 964,934 129,746 170,524 S5.691 57,562 515,681 92,44o 53,75s 114,347 103,812 173,762 Government 43,831 5,087 9,964 6,7-29 6,231 2,173 531 33,,884455 1,541 660 334 236 6,450 Poreign bank U.673 305 1,292 439 413 163 146 554433 142 96 121 121 292 Special deposits: member "baric 51.303 532 4,552 7,277 5,47S 1,S53 2,071 19,539 3,239 1,033 2,611 325 2,783 nonuenber bank 10,207 1,427 1,392 123 601 272 3 4,392 303 25 658 Other deposits 66,128 1,552 31,624 57S 6,ll4 1.583 3.495 1.135 5,023 1,672 874 1,239 11,239 Total deposits 2,311,780 175,307 1,014,443 146,667 188,338 92,069 64,077 540,746 107,277 57,522 118,362 105,733 200,189 Deferred availability iter.ss 423,609 44,95s 99,945 35,270 3S,173 34,664 14,467 58,096 24,072 10,334 25,523 is,712 19,395 Capital paid in 144,926 10,869 53,27s 15.91S 12,331 5,024 4,4is 12,833 3,944 2,876 4,087 3,713 10,635 Surplus 27S,599 20,460 35,053 29,242 28,294 11,616 10,544 39.^97 10,186 7,019 8,263 8,719 19,701 All other liabilities 38.20s 1,125 16,979 1,712 3,066 1,009 2,857 5,125 1,115 1,264 953 97s 2,025 TOTAL LIABILITIES 7,001,832 508,474 1,934,039 437,633 539,123 303,239 226,759 1,46s,231 299,333 179,779 274,485 192,890 431,247 Ratio of total gold reserves and other cash* to deposit and F.R. note liabilities combined 63.7 64.3 56.5 62.4 62.7 69.7 63.4 70.9 67.9 60.8 65.7 66.7 64.3 Contingent liability on bills purchased for foreign correspondents 3,659 211 1,732 304 236 113 101 376 9a 67 s4 34 203 MATURITY DISTRIBUTION 0? BILLS ATD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 115,133 S7.656 6,715 9,496 10,171 1,008 142 Bills bought in open market 113.375 23,473 9,544 41,617 38,492 249 Certificates and bills 935,1S5 97,095 73,34s 90,963 285,244 203,006 185,529 Municipal warrants 1,494 1,378 50 30 36 "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 BESERVE 1T0TE STATEMENT Oil DECEMBER 20, 1933 (In thousands of dollars) B-g01-d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.barik by F.R.agent 3,369,109 255,971 74i,ssb 252,400 311,077 169,037 145,703 823,459 151,S98 97,477 115,221 48,762 255,574 Held "by Federal Reserve "bank 277,238 21,19*4- 86,551 15,7^0 18,674 8,789 20,523 4l,06l 6,219 4,072 8,176 5,848 Ho,391 In actual circulation 3,091,871 234,777 655,329 236,660 292,403 l60,298 125,180 782,393 145,679 93,405 107,61+5 1+2,91U 215,183 Collateral held "by agent as security for notes issued to baric; G-old and gold certificates 1,475,244 74,555 433,606 101,610 107,270 52,100 21,880 1+1+5,987 28,1+18 29,751+ 18,1+90 20,574 91,000 Gold fund - F. R. Board 1,124,745 123.617 80,100 72,390 107,R00 84,375 69,000 265,000 9l+,200 35,500 78,800 25,500 90,763 Eligible paper , 184,456 33,096 1+0,377 20,003 19,711 7,7S4 7,967 17.459 5»ss'+ 5,^15 6,751 5.665 14,344 U.S. Govt, securities 544,000 27,000 160,000 60,000 80,000 26,000 1+8,000 110,000 25,coo 27,000 16.000 65.000 Total collateral 3,^+28,1+1+5 258,268 764,083 25l+,003 3l4,4si 170,259 146,847 838,1+1+6 153,502 97,669 120,o4i 49,739 261,107 FEDERAL RESERVE BARK NOTE STATEMENT ON DECEMBER 20, 1933 (In thousands of dollars) Total Eoston ITew York- Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.Bank(outstanding) 235,361 22,929 63,973 26,097 27,058 i+,583 5,701+ 30,751 7,^0 8,051 9,852 13,544 14,979 Hold by Federal Reserve bank 22,^22 2,1+51 9.966 3.£53 1.090 21+ 4ss 1.165 2S0 -622. 200 l f l+2'^ In actual circulation 212,839 20,1+78 5V007 22,214 25,968 4.559 5,216 29,586 7,560 7,359 9,652 12,121 14,119 Collateral pledged against outstanding notes: Discounted and purchased bills 2,072 1,668 240 164 U.S. Govt, securities 256,774 30,000 64~274 26,500 30,JOO 5.000 7.000 36,000 9.000 10.000 10.000 i4.ooo 15.000 Total collateral 258,846 30,000 64,274 26,500 31,668 5,000 7,240 36,000 9,164 10,000 10, m 14,000 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis