H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOH THE PRESS Released for publication B-S01 Friday morning, Feb. lo; Federal Reserve Board not earlier February 15, 193^ # COITDITIOIT 01- FEDERAL RESERVE BANKS The average daily volume of Federal Reserve bank credit outstanding for the week ended February iH, as reported by the Federal Reserve banks, was $2 609,000,000, a decrease of $7*000,000 compared with the preceding week and an t increase of $510,000,000 compared with, the corresponding week in,1933* On February 7 total Reserve bank credit anKnmted to $2,593»000,000, a decrease of $13,000,000 for the week. This decrease corresponds with decreases of $58,000,000 in Treasury cash and deposits with Federal Reserve banks and $21,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $53t000,000 in monetary gold stock, offset in part by increases of $115,000,000 in member bank reserve balances and $U,000,000 in money in circulation. The System's holdings of bills discounted declined $5,000,000, of bills bougjit in open market $11,000,000 and of United States Treasury notes $2,000,000, while holdings of Treasury certificates and bills increased $2,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February iV, 193^> were as follows: Increase or decrease since Fob. Ik Feb. 7 Feb. 15 (In millions of dollars) Bills discounted 68 -5 -218 Bills bought 86 -11 + 55 +623 U. S. Government securities 2,^32 Other reserve bank credit 7 +3 - 3 +457 TOTAL RESERVE BANK CREDIT 2,593 -13 Monetary gold stock 7,039 +53 +2,865 Treasury and National "bank currency 2,301 +98 Money in circulation 5.321 + b Member bank reserve balances 2,851 +115 +615 Treasury cash and deposits with F.R, banks 3,391 -53 +3,061 JFonmember deposits arid other T.R. accounts keQ rfil -10 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, February 16,1934; not earlier. B-SOla ASSETS ATO LIABILITIES 07 THE TWELVE > FEDERAL RESERVE BAJ'^S COlffiBTED (In thousands of dollars) Feb. 14,1934 Feb. 7,1934 Feb. 15, 1933 A S S E TS Gold certificates on hand and due from tj. s. Treasury 3,582,092 3,513,171 706,766 Gold — - 2,448,796 Redemption fund - F. R. notes 42,234 42,478 44,59© Other cash . . .. 222,460 220.899 260,832 Total reserves 3,846,786 3,776,548 3,>+60,990 Redemption fund - F. R. bank notes . . 12,387 12,520 Bills discounted: Sec. by U.S.Government obligations . 19,264 21,020 81,485 Other bills discounted 49,l4l 52,307 204,888 Total bills discounted 68,405 73.327 286,373 Bills bought in open market . . . .. g6,08o 96,399 30,784 U.S. Governraent securities: Bonds 443,045 442,785 421,099 Treasury notes 1,026,142 1,028,137 1+38,044 Certificates and bills 962,837 960,821 950.165 Total U.S.Government securities . 2,432,024 2,431,743 1,809,308 Other securities 1,293 1,293 4,797 Total bills and securities . . 2,537,808 2,603,262 2,131,262 Dae from foreign banks 3,400 3.392 3.510 F. R. notes of other banks 16,222 15.377 11,542 Uncollected items 5+9^17)+ 36^,079 390,639 Bank premises 52,382 52,365 53.962 Fed. Dep. Ins. Corp. stock 69,650 69,650 All other assets . . . . .. 46,483 45,914 53.481 TOTAL ASSETS 7,134,292 6,943,107 6,105,386 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,952,541 2,946,22.6 2,891,145 F. R. bank notes in actual circulation 199,358 201,984 De-posits: Member bank - reserve account . . .. 2,350,888 2,735,701 2,236,095 Government 45,654 84,912 51,542 Foreign bank 3,610 7.9S9 59,^22 Special deposits - member bank . . . 36,823 38,711 nonmember bank . 11,419 10,438 Other deposits 78,115 84,790 28,704 Total deposits 3,026,569 2,962,541 2,375,763 Deferred availability items 497,108 365,119 388,938 Capital paid in 145,081 145,222 150,916 Surplus . 13S.3S3 13S,3S3 278,599 Subscription for Fed. Dep. Ins. Corp. stock: Paid 69,650 69,650 Called for payment on April 15 . . 69,650 69,650 All other liabilities 35,952 44,332 20,025 TOTAL LIABILITIES . . .. 7,134,292 6,943,107 6,105,326 Ratio of total reserves to deposit and E. R. note liabilities combined . . 64.3$ 63.9$ 65.7$ Contingent liability on bills purchased for foreign correspondents. 4,284 4,478 35»6S4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AI*D LIABILITIES OP THE FEDERAL RESERVE BAMS OF FEBRUARY l4, 1934 A S S E TS (in thousands of dollars) B-SOl-b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 3,582,092 244,217 861,482 213,387 320,824 152,386 133,296 881,625 171,379 104,226 160,457 87,923 250,890 Redemption fund - F. R. notes 42,234 3,175 9.12S 3,SS9 4,066 2,261 2,943 6,992 1,097 1,450 91s 7S5 5,530 Other cash 222,460 19,26s 55,58S 33,969 14,927 9,709 li,4is 29.S30 9,375 9,40S 8,S73 6,325 13,770 Total reserves 3,s46,7S6 266,660 926,19s 251,245 339,817 164,356 147,657 918,447 181,251 115,084 170,248 95,033 270,190 Redemption fund - F.R.bank notes 12,3S7 1,250 3,107 1,100 1,347 252 509 1,630 655 570 500 621 s46 Bills discounted: Sec. "by U.S.Govt, obligations 19,264 871 11,783 3,595 1,093 229 155 612 474 6 39 — 407 Other "bills discounted 49,l4i 929 20,233 15,907 2,962 2,419 1,585 1,527 343 1,225 618 31 i,?62 Total bills discounted 68,405 1,800 32,016 19,502 4,055 2,648 1,740 2,139 817 1,231 657 31 1,769 3ills bought in open market 86,086 19,927 5,293 4,701 9,080 2,681 3,308 10,549 3,272 2,043 2,793 12,088 10,351 U.S. Government securities: Bonds 443,045 24,399 167,783 28,070 32,159 14,125 10,817 76,950 14,493 16,501 14,113 18,526 25,109 Treasury notes 1,026,142 69,049 346,021 72,053 93,700 41,154 31,321 172,611 40,775 25,537 35,918 24,841 73,162 Certificates and bills 962,837 64,234 302,951 66,997 87,165 38,284 29,138 187,782 37,932 23,773 33,^13 23,108 68,060 Total U.S.Govt. securities 2,432,024 157,682 816,755 167,120 213,024 93,563 71,276 437,343 93,200 65,811 83,444 66,475 166,331 Other securities 1,293 783 510 — Total bills and securities 2,587,808 179,409 854,847 191,833 226,159 9S,892 76,324 450,031 97,289 69,085 86,894 78,59^ 178,451 Due from foreign banks 3,400 256 i29<S 370 325 129 119 448 15 11 95 95 241 f F. R. notes of other banks 16,222 355 5,054 431 1,008 96s 918 2,212 l,o44 896 1,615 297 1,424 Uncollected items 499,174 44,716 139,574 41,564 50,491 35,317 16,644 68,905 21,066 11,424 26,104 21,026 22,343 Bank premises 52,382 3,224 11,424 3,968 6,7 ss 3,128 2,372 7,381 3,111 1,657 3,^5 l,751+ 4,090 Fed. Dep. Ins. Corp. stock 69,650 5,H5 21,265 7,310 7,073 2,904 2,636 9,874 2,5^7 1,755 2,066 2,180 4,925 All other assets 46.483 1,012 26,326 5,504 1,560 2,4I4 3,561 1.401 4os 1,408 1,014 899 976 TOTAL ASSETS 7,134,292 501,997 l,9S9,09l 503,325 634,568 308,360 250,740 1,460,329 307.986 201,890 292,021 200,499 483,486 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES OH FEBRUARY l4, 1934 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston llev/ York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 2,952,5^1 219,779 602,490 234,586 286,867 146,773 122,229 761,656 137,184 94,825 107,325 41,051 197,776 F.R.bank notes in actual circulation 199,353 21,916 52,635 19,291 22,655 4,402 4,477 26,299 8,525 7,310 9,434 9,100 13,314 Deposits: Member "bank - reserve account 2,850,888 177,3^9 995,622 150,882 220,676 94,475 76,160 524,o4o 107,719 61,442 129,550 111,780 201,193 Government 45,654 4,963 16,193 1,836 2,931 5,972 5,O4O 3,579 3,043 857 539 559 87 Foreign bank 3,610 232 1,501 335 310 123 113 4o6 107 74 90 90 229 Special deposits: member bank: 36,883 162 1,809 5,I4I 4,655 1,615 1,751 13,221 2,396 967 1,866 352 2,948 nonmember bank 11,419 1,091 2,060 129 8 36 31s -- 6,059 "Z — — 538 Other deposits 78,115 1,751 20,377 1,753 2,632 3,048 8,156 1,037 6,351 13,363 4,374 2,003 12,720 Total deposits 3,026,569 184,462 1,037,093 162,007 231,333 106,069 9i,53S 542,233 125,675 77,091 136,469 114,784 217,715 Deferred availability items 497,108 43,717 136,713 40,926 50,254 3?, 896 14,876 72,325 21,671 11,649 26,144 22,137 22,300 Capital paid in 145,081 10,654 58,510 15,722 12,451 5,020 4,460 12,809 3,9^3 2,864 4,103 3,899 10,646 Surplus 13S,3S3 9,610 45,217 13,352 14,090 5,171 5,145 20,681 4,756 3,420 3,613 3,683 9,645 « 4- • Subscription for Fed. Dep. Ins. Corp SuOCJ£; # Paid 69,650 5,H5 21,265 7,310 7,073 2,904 2,636 9,874 2,547 1,755 2,066 2,180 4,925 Called for payment on jipril 15 69,650 5,115 21,265 7,310 7,073 2,904 2,636 9,874 2,547 1,755 2,066 2,130 4,925 All other liabilities 35,952 1,629 13,903 2,821 2,722 1,221 2,743 4,52s ;,i3s 1,221 801 1,435 1,740 TOTAL LIABILITIES 7,13^,292 501,997 1,989,091 503,325 634,56s 303,360 250,740 1,460,329 307,936 201,390 292,021 200,499 483,4s6 Ratio of total reserves to deposit and F.R.note liabilities combined 6U.3 66.0 56.5 63.4 65.6 65.0 69.1 70.4 69.2 66.9 69.8 61.0 65.O Contingent liability on bills purchased for foreign correspondents 4,284 322 1,356 466 430 170 157 564 l4s 103 125 125 31C MATURITY DISTRIBUTIOF 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 68,405 52,872 5,218 4,998 4,833 447 37 Bills bought in open market 86,086 30,832 24,922 21,7^0 8,591 1 Certificates and bills 962,837 72,170 201,999 153,170 144,928 180,721 209,849 Municipal warrants 1,293 1,276 17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOTE STATEMENT 01T FEBRUARY 14, I93U (In thousands of dollars) B-SOl-d Total Boston KOT York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Q/-. Dallas San Fran. ?e&3ral Heserve rotes: 3,204,150 23^,212 674,457 2*19,063 300,872 15^,229 lUl672 802,541 142,184 99,319 11^->200 45,1*16 245,485 Issued to F.R.bask by F»R.agent f 1 Held by Federal Reserve bank 251,609 14,433 71,967 1^77 7,^6 19,^3 ^0,225 coo V39* 6,875 *+,365 ^7,709 In actual circulation 2,952,5U1,219,779 602,490 23^,526 286,867 146,773 122,229 761,656 137,124 9M25 107,325 Hi,051 197,776 .loll--teral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 2,573,318 19^,672 523,706 177,000 233,226 117,599 99,335 700,713 125,697 22,444 108,290 3M63 175,763 Eligible peeper 122,358 21,114 25,572 12,504 11,494 4,032 3,992 10,739 3,243 2,665 2,994 11,952 11,451 U.S. Govt, securities 548,100 19,500 145,000 60,coo 60,000 36,000 39,000 92,000 i4,ooo 15,600 5,000 — 62,000 Total collateral 3,243,776 235,286 694,27s 249,504 305,320 157,631 1^2,383 803,452 143,540 100,709 116,284 46,115 249,214 FEDERAL RESERVE BAM }?0TE STATEMENT Oil FEBRUARY l4, 1934 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans.C&r. Dallas San Fran. Tederal Reserve bank notes: Issued to F.R.Bank(outstanding) 222,153 23,502 62,3^1 24,805 23,627 4,402 5,1^9 27,300 8,775 7,500 9,575 10,3^1 1M36 Held by Federal Reserve bank 22,795 1,526 9,706 5,51^ 972 — 672 1,001 250 190 l4l i,24i 1,522 In actual circulation 199.35s 21,916 52,635 19,291 22,655 M77 26,299 8,525 7,310 9,U3U 9,100 13,31^ Collateral pledged against outstanding notes: Discounted and purchased bills 1,162 1,066 81 15 U. S. Govt, securities 2*6,77^ 30,000 6M7H 26,500 25,000 5,000 6,000 36,000 11,000 10,000 10,000 11,000 15,000 250,936 30,000 64,274 26,500 26,066 5,000 6,081 36,000 11,015 10,000 10,000 11,000 15,000 Total collateral Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis