H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B~S01 Friday morning, Dec. 29; Federal Reserve Board not earlier. December 2S, 1933. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank: credit outstanding during the week ended December 27, as reported by the Federal Reserve banks, was $2,698,000,000, an increase of $11,000,000 compared with the preceding week and of $509f000,000 compared with the corresponding week in 1932. On December 27 total Reserve bank credit amounted to $2,67^,000,000, a decrease of $12,000,000 for the week. This decrease corresponds with decreases of $25,000,000 in money in circulation and $8,000,000 in unexpended capital funds, nonmember deposits, etc., and an increaso of $19,300,000 in Treasury currency, adjusted, offset in part by an increase of $39,000,000 in member bank reserve balances* The System*s holdings of bills discounted declined $U,000,000 and of bills bo-u^ht in open market $2,000,000 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 27, 1933, were as follows: Increase or decrease since Dec. 27 Dec. 20 Dec. 28 1933 1933 1932 (in millions of dollars) Bills discounted. 111 - k — 156 Bills bought 111 - 2 + 7S U. S. Government securities 2,^32 + 581 — Other Reserve bank credit 20 - 5 + 3 506 TOTAL RESERVE BMIv CREDIT 2,67U -12 + Monetary gold stock ^,323 — - 182 Treasury currency adjusted 1,939 +19 + 91 Money in circulation 5,S2U -25 + 137 Member bank reserve balances 2,675 +39 + 193 Unexpended capital funds,nonmember deposits,etc. 486 - 8 + 8U Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 29,1933; not earlier, B-S01a ASSETS AND LIABILITIES OF THE TTOLVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Dec. 27.1933 Dec. 20,1933 Dec. 28,1932 A S S E TS Gold with Federal Reserve agents • • • . 2,595,043 2,599,939 2,335,3^5 Gold redemption fund with U # S # Treasury # ^,739 46,010 40,831 Gold held exclusively against F«R # notes 2,639,722 2,61+5,999 2,376,176 Gold settlement fund with F # R. Board # * 6^8,3^3 &3.750 346,342 Gold and gold certificates held by banks 2go f 66i 280,335 426,013 Total gold reserves . • # . 3,562,726 3,570,084 3,148,531 Other cash* 209,356 191,724 257,356 Total gold reserves and other cash # 3,772,1*42 3,761,80s 3,405,887 Redemption fund - F R, bank notes . 1133,,556666 13,836 — # # # Bills discounted: Sec. by U«S.Government obligations # 36,925 38,529 7777,,776600 Other bills discounted • 73t627 76,659 189,622 Total bills discounted . . # 110,552 115,188 267,3S2 Bills bought in open market 111,083 113,375 33,307 U S. Government securities: # Bonds • 443,166 442,709 420,740 1,053,704 296,419 Treasury notes 1,053,163 Certificates and bills 935,250 935,135 1.133,578 Total U # S.Government securities 2,432,179 2,431,593 1,350,737 Other securities 1,494 5,649 i tW 2,661,655 Total bills and securities . # 2,655,302 2,157,075 72,63s Gold held abroad —— — Dae from foreign banks 3,333 3,334 2,976 17,061 F # R # notes of other banks • 16,739 14,775 Uncollected items • • . • • 425,900 444,233 356,736 Bank premises . . . .. 54,804 54,804 58,212 All other assets 45,101 36,831 TOTAL ASSETS 6,993,206 7,001,832 6,105,130 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,080,94s 3,091,871 2,735,^53 F. R. bank notes in actual circulation 221100,,229988 212,839 — Deposits: Member bank - reserve account . . . # 2,675,153 22,,663355,,663333 22,,448811,,667744 Government . . . . . . . . . . . .. 29,720 43,831 42,172 5,110 4,673 19,053 Special deposits - member bank . . . Us,091 51,303 — nonmember bank . 10,011 10,207 — Other deposits . . . . . . . . . .. 61,075 66,128 20,339 Total deposits . 2,829,160 2,811,780 2,563,238 Deferred availability items . . . . • 410,929 423,609 343,639 Capital paid in . . . . . . . . . .. i44,6s4 144,926 151,31^ Surplus . . . . . . . . . . . . . . .. 272,599 278,599 259,421 47,060 All other liabilities . . . . . . . .. 38,588 38,208 TOTAL LIABILITIES . . .. 6,993,206 7,001,832 6,105,130 Ratio of total gold reserves and other cash* to deposit and F»R, note liabilities combined 6633..99££ 6633..77$$ 6644..33ff Contingent liability on bills purchased for foreign correspondents 3,710 33,,665599 3366,,333333 * "Other cash" does not include F.R. notes or a bank*s ovm P.R bank notes. # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF TH EFEDERAL RESERVE BAMS ON DECEMBER 27, 1933 A S S E TS (In thousands of dollars) B-801-b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.cy. Dallas San Fran. Gold With Federal Reserve agents 2,595,01+3 198,172 553,706 172,500 21^,770 137,*+75 90,880 710,987 12M72 68,75^ 97.290 181,763 Gold redemption fund with U.S.Treas. ^,739 1,977 10,707 M88 5,216 1,886 3,157 6,8*+! 1,30*+ 1,612 1,170 865 5,816 Gold held exclusively against F. R. notes 2,639,782 200,1149 564,1+13 176,688 219,986 139,361 9M37 717,828 125,976 70,366 98,1+60 ^,939 187,579 Gold settlement fund with F.R.Board 61+8,31+3 26,062 132,098 ll+,628 63,779 29,379 19,016 187,173 140,065 17,058 1+3.237 39,727 36,121 Gold and gold certif. held "by banks 280,661 22,030 189,253 11,91+1 14.869 1,096 2,103 2,683 259 566 IO.9I4I4 31.178 Total gold reserves 3,568,786 2l+S,2l+l 885,761+ 203,257 288,631+ 169,836 115,156 907,681+ 166,300 87,990 152,61+1 SS,1|05 251+,37s Other cash* 209*356 15,869 50,800 29,731+ 13,373 9,91+1 10,779 30,361+ 10,Sl»0 8,11+3 8,3l+3 5,626 15,039 Total gold reserves & other cash 3^78,11+2 261+, 110 936,561+ 232,991 302,007 179,777 125.935 938,01+8 177.11*) 96,133161,1+89 9H.031 269,917 Redemption fund - F.R. bank notes 13,566 1,250 3,032 11,,330000 1,392 273 1,031+ 2,059 I49S 596 5533ss 776677 827 Bills discounted: Sec. by U.S.Govt, obligations 36,925 MM6622 21,197 5,1+50 2,503 555 709 9I+2 811+ 99 52 lll+ 128 Other bills discounted 73,627 2,1496 27,90i+ 20,271+ 5,12l+ 3*935 14,125 3,236 696 1,935 1,507 65H 1,71+1 Total bills discounted 110,552 6,858 1+9,101 25,724 7,627 i+,i+90 l4,83l+ 14,178 1,510 2,031+ 1,559 768 1,869 Bills bought in open market 111,083 27,131+ l+,679 7,607 12,599 3,81+1 14,365 13,81+7 l+,l486 3,1+35 M27 9,20l4 15,259 U. S. Government securities: Bonds 14+3,166 21+.390 170,01+7 28,068 32,161 11,860 10,78l4 76,950 ii+,i+93 16,667 li+,l09 18,527 25,H0 Treasury notes 1,053,163 70,955 361,165 7^4,01+1 96,287 35,510 32,285 177,161 1+1,901 26,239 36.910 25,527 75,182 Certificates and bills 935,850 62,326 300,1+69 65,011 8*4,576 31.193 28,298 183.232 36,$06 23,057 32,1+22 22,1421 66,039 Total U.S. Govt, securities 2,1+32,179 157,671 831,681 167,120 213,021+ 78,563 71,367 ^37,3^3 93,200 65.963 83.1+1+1 66,1475 166,331 Other securities 1,1+91+ •— 90I+ 510 —— — — 80 — —— Total bills and securities 2,655,308 191,663 886,365 200,961 233,250 86,891+ 80,566 1+55.368 99,196 71,512 89.627 76,1^47 183,^9 Due from foreign banks 3,333 258 1,207 371 331 131 118 1459 15 10 98 98 235 F. R. notes of other banks 16,739 3,1+80 531 1,156 1,161 1,27H 3.535 901 59I+ 1.279 387 2,081 ,, 36P Uncollected items 1+25,900 1+6,511+ 107,9*+9 32,7^3 1+0,511+ 36,331 16,101 51,8814 17,838 11.079 25,878 16,172 22,897 Bank premises 54,80*+ 3,280 12,818 3,841 6,932 3.238 2,1+22 7,609 3,285 l,7*+7 3,571 1,797 14,261+ All other assets %,l+ll+ 39S 2^,926 ^517 2,111 2,75S 3,793 1,51+8 1+92 1,1+89 1,1+16 1,077 889 TOTAL ASSETS 6,993,206 507,833 1,976,3^1 ^77,255 527,695 310,563 231,21+3 1,1+60,510 299,365 183,160 283,896 190,776 48l+,569 * "Other cash" does not include F. R. notes or a hank's own F. R. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AID LIABILITIES OF THE FEDERAL RESERVE BAIJKS ON DECEMBER 27, 1933 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York phila* Cleve. Rich. Atlanta Chicago St Louis Minn. Kans.Cy, Dallas San Fran. # F*R notes in actual circulation 3,080,948 235,683 643,317 237,293 293,219 158,069 125,424 735,933 145,188 92,90s 107,410 43,480 212,974 # F»R # "bank notes in actual circulation 210,298 20,610 52,701 21,399 25,653 4,528 5,144 28,907 3,077 7,5^9 9,624 11,685 14,421 Deposits*- Member bank - reserve account 2,675,153 170,726 962,067 127,671 175,339 90,150 62,510 517,797 97,901 58,459 123,134 102,740 186,609 Government 29,720 1,519 20,354 2,092 823 862 622 386 634 340 511 1,000 577 Foreign bank 5,110 173 3,528 249 235 93 33 309 81 55 69 69 166 Special deposits: member bank 1*8,091 500 4,145 7,025 5,337 1,925 1,923 17,427 3,220 1,034 2,44o 316 2,749 nonmember bank 10,011 1,335 1,945 167 703 294 3 4,636 275 30 623 — Other deposits 61,075 1,281 27,190 632 4,oo4 1,203 3,351 1,153 5,127 1,456 1,531 1,142 12,950 Total deposits 2,829,160 174,199 1,018,619 139,614 186,005 94,936 68,783 537,080 111,599 61,619 127,765 105,267 203,674 Deferred availability items 410,929 45,126 101,147 31,944 38,95s 35,421 13,939 51,015 19,292 9,993 25,860 16,926 21,308 Capital paid in i44,6s 4 10,584 58,267 15,920 12,424 4,995 4,450 12,797 3,944 2,873 4,077 3,716 10,637 Surplus 272,599 20,460 35,058 29,242 28,294 11,616 10,544 39,497 10,186 7,019 8,263 8,719 19,701 All other liabilities 33,538 1,171 17,232 1,343 3.,142 993 2,959 5,231 1,079 1,199 397 933 1,854 TOTAL LIABILITIES 6,593,206 507,333 1,976,341 477,255 537,695 310,563 231,243 1,460,510 299,365 183,160 283,896 190,776 434,569 Ratio of total gold reserves and other cash* to deposit and. F R # # note liabilities combined S3.9 64.4 56.4 61.8 63,0 71.1 64.3 70.9 69.0 62.2 6S.7 63.2 64.3 Contingent liability on bills purchased for foreign correspondents 3,710 211 1,783 30U 286 113 101 376 98 67 84 84 203 MATURITY DISTRIBUTION OF BILLS AND 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 110,552 S2,7S7 5,913 8,890 11,7*18 1,049 165 Bills bought in open market 111,083 16,518 lU,81b U6,136 3 3 ,^ ^ 173 Certificates and bills 935,S50 77*500 67,192 83,71^ 310,528 206,351 185,559 Municipal warrants l $ ksk 1,372 80 36 * "Other cash" docs not include F. S. notes or a "bank's own P. E. bank notes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOTE STATEMENT Oil DECEMBER 27, 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: Issued to F.R«bank by F..R* agent 5,363,is4 256,992 727,866 250,735 312,368 169,307 145,273 831,321 151,078 98,203 116,0^7 US,757 255,237 Held "by Federal Reserve bank 282,236 21,309 8U,5i<9 13,442 19,149 11.238 19,849 45,338 5,890 5,295 8,637 5,277 42,263 In actual circulation 3*080,948 235,683 643,317 237,293 293,219 158,069 125,424 785,983 145,188 92,90s 107,410 43,4so 212,974 Collateral held "by agent as security for notos issued to "bank: Gold and gold certificates 1,1+75,298 74,555 483,606 101,610 107,270 52,100 21,880. 445,987 28,472 29,754 18,490 20,574 91,000 Gold fund - F. R. Board 1,119,745 123,617 70,100 70,890 107,500 85,375 69,000 265,000 96,200 39,000 78,800 23,500 90,763 Eligible paper 177,422 32,634 37,6Ul 18,853 17,962 6,816 7,102 15,095 5,557 4,636 5,583 9,693 15,850 U. S. Govt, securities 639,000 27,000 160,000 60,000 SO,000 26,000 48,000 110,000 22,000 27,000 l4,ooo 65,000 Total collateral 3*411,465 257,806 751,3^7 251,353 312,732 170,291 145,982 836,082 152,229 100,390 116,873 53.767 262,613 FEDERAL RESERVE BAM HOTE STATEMEOT 01T DECEMBER 27, 1933 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve "bank notes: Issued to F.R.Bank(outstanding) 234,746 22,792 63,766 25,991" 27,031 4,573 5,674 30,679 8,23s 8,051 9,837 13,137 14,977 Held by Federal Reserve bank 24,448 2,182 11,065 4,592 1,378 1+5 530 1,772 161 502 213. 1,452 556 In actual circulation 210,29s 20,610 52,701 21,399 25,653 4,528 5,1^ 28,907 8,077 7,5^9 9,624 11,685 14,421 Collateral pledged against outstanding notes: Discounted and purchased bills 2,085 — — 11,,666655 — 231 — 189 — — — — U.S. Govt, securities 256,77^ 30,000 64,274 2266,,550000 30,000 5,000 7,000 36,000 9,000 10,000 10,000 14,000 15,000 Total collateral 258,859 30,000 64,27*+ 26,500 31,665 5,000 7,231 36,000 9,189 10,000 10,000 i4,ooo 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis