H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, Mar. 2; Federal Reserve Board not earlier. March 1, I93U, COSDITIQN OF FEDERAL RESERVE BAllKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended February 28$ as. reported by the Federal Reserve banks, was ,000, a decrease of $l6000,000 compared with the preceding week ard of t $11,000,000 compared with the corresponding week in 1933* On February 28 total Reserve bank credit amounted to $2,567*000,000, a decrease of $25*000,000 for the week-* This decrease corresponds with an increase of $192,000,000 in monetary gold stock and decreases of $96,000,000 in Treasury cash and deposits with Federal Reserve banks and 000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $263,000,000 in member bank reserve balances and ill,000,000 in money in circulation® The Systemfs holdings of bills discounted declined $2,000,000, of bills bought in open market $13,000,000 and of Treasury certificates and bills $2U,000,000, while holdings of United States Treasury notes 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 28, 193*+, were as follows: Increase or decrease since Feb,*28 Feb. 21 Mar* 1 • J331 (In millions of dollars) Bills discounted 6k -2 -6Us Bills bought 62 -13 -322 U. S. Government securitias 2,432 +596 Other reserve "bank credit S -10 + 4 TOTAL HESERVE BAM: CREDIT 2,567 -25 -369 Monetary gold stock 7,1+01 +198 +3,3^5 Treasury and national bank currency 2,302 + 1 + gU .Money in circulation 5.355 +n -1,077 Member bank reserve balances 3,093 +263 +1,055 Treasury cash and deposits with F.H.banks 3,^03 -96 +3,100 Uonmember deposits and other P.R.accounts U19 - U - 17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 2, 193^+'» not earlier. B~801a ASS3TS AND LIABILITIES 0? TEE HELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Fob. 28,193^ Feb. 21,1934 Mar. 1, 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 3,895,311 3,712,311 605,941 Gold 2,198,647 Redenption fund - F. R. notes . . .. 35,138 41,503 87,495 Other cash 208,727 213,904 242,334 Total reserves . . . . .. 4,139,676 3,967,718 3,13^17 Redemption fund - F. R. bank notes . 1122,,559955 12,159 — Bills discounted: Sec. by U.S.Government obligations 18,3^2 *18,927 44llSS,,9922ll Other bills discounted . 46,028 *47,54O 293,470 Total bills discoxmted . . . 64,390 66,467 712,391 Bills bought in open market . . .. 62,3*1-5 75,111 333,666 U. S. Government securities: Bonds 442,830 H42.775 420,832 Treasury notes 1,055,420 1,031,256 457,880 Certificates and bills . . . .. 933,701 957,70H 957,251 Total U.S.Government securities 2,431,951 2,431,735 1,835,963 Other securities 653 1.293 4,719 Total bills and securities . . 2,559,339 2,574,606 2,936,739 Due from foreign bariks 3M5 3,400 3,515 F. R. notes of other banks . . .. 13,293 15,027 11,083 Uncollected items . .. 410,791 396,209 400,335 Bank premises . . . .. 52,382 52,333 53,962 Fed. Dep* Ins. Corp. stock 69,650 69,650 —— All other assets . 54.022" 47,791 TOTAL ASSETS 7,309,002 7,138,121 6,59^.133 L I A B I L I T I ES F. R. notes in actual circulation . 2,979,637 2,970,309 3,579,522 F. R, bank notes in actual circulation 119955,,337766 197,750 Deposits: Member bank - reserve account . . 3,093,119 2,830,118 2,038,228 Government 45,261 165,546 27,766 Foreign bank 3,433 4,871 >+1,956 Special deposits - member bank . 29,24s 30,405 nonmember bank 11,994 11,416 Other deposits 82,326 85,52s 49,240 Total deposits 3,265,381 3,127,884 2,157,190 Deferred availability items . . . 406,909 382,533 4o4,i98 Capital paid in . 145,310 145,309 150,303 Surplus . 138,383 138,383 278,599 Subscription for Fed. Dep. Ins. Coro. stock: Paid 69,650 69,650 •— Called for payment on Jpril 15 . 69,650 69,650 All -other liabilities 3SJ06 36,653 24,321 TOTAL LIABILITIES 7,309,002 7,138,121 6,59^,133 Ratio of total reserves to deposit and F. R. note liabilities combined , 6666..33$$ 6655..11$$ Contingent liability on bills purchased for foreign correspondents . . . 4,835 4,635 29,398 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAIFKS ON FEBBUARY 28, 193* A S S E TS (In thousands of dollars) B-SOl-b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St. Louis" Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 3,895.SU 271,9*3 1,177,939 221,Jk3 324,960 155,525 122,388 863,916 166,221 95,851 163,601 89,067 242,547 Redemption fund - F. R. notes 35.13S 2,953 3.625 3,755 3,709 1,955 2,675 6,745 1,361 1,335 882 734 5,*09 Other cash 208,727 17,986 48,982 33,505 14,076 8,905 11,099 28,263 8,535 9,434 8,924 5,919 13.049 Total reserves U,139,676 292,8o2 1,230,596 259,003 342,745 166,445 136,162 898,924 176,117 106,670 173,407 95,720 261,005 Redemption fund - F.R. tank notes 12,595 1,250 3,186 1,100 1,304 258 361 1,757 9S9 562 500 557 771 Bills discounted: Sec. by U.S.Govt, obligations 18,362 1,472 10,397 3.851 939 220 88 665 283 1 39 407 Other bills discounted 46,028 918 19,890 14,835 2,708 1,854 1,255 1,487 214 1,093 467 61 1,244 Total bills discounted 64,390 2»390 30,227 18,686 3,647 2,074 1,343 2,152 497 1,094 506 63 1,651 Eills bought in open market 62,345 12,943 3,060 3,788 6,525 2,022 2,454 7,126 2,640 1,846 2,013 11,254 6,61* U.S. Government securities: Bonds 442,830 24,4oo 165,513 28,070 32,15s 14,125 12,270 76,949 14,493 16,343 14,112 19,282 25,110 Treasury notes 1,055,420 71,104 348,327 74,198 96,439 42,379 36,784 177,518 41,990 26,1+58 36,922 27,845 75,340 Certificates and bills 933,701 62,178 287,910 64,852 24,377 37,059 32,166 182,876 36,717 22,993 32,344 24,34s 65,831 Total U.S.Govt, securities 2,431,951 157,682 801,755 167,120 213,024 93,563 81,220 *37,3*3 93,200 65,794 83,444 71,475 166,331 Other securities 653 143 510 — — -- Total bills and securities 2,559,339 173,015 835,245 190,104 223,196 97,659 25,017 446,681 96,337 68,734 85,963 S2.792 174,596 Due from foreign banks 3,*S5 256 1,380 370 326 129 119 448 15 11 95 95 241 F. R. notes of other banks 13,293 394 4,152 496 914 516 1,055 1,934 1,050 791 71* 310 917 Uncollected items 410,791 *2,7*7 106,947 31,428 38,952 36,091 l4,o4i 54,633 17,295 9,348 23,482 15,001 20,826 Bank premises 52,382 3,224 11,424 3,96s 6,788 3,128 2,372 7,382 3,iio 1,657 3,485 1,75* 4,090 Fed. Dep. Ins. Corp. stock 69,650 5,115 21,265 7,310 7,073 2,904 2,636 9,874 2,5*7 1,755 2,066 2,180 *,925 All other assets *7,79l 980 28,391 5,508 1,49s 2,275 3,446 .1,292 392 1,376 915 891 827 TOTAL ASSETS 7,309,002 519,863 2,242,586 499,237 622,796 309,405 245,209 1,1+22,975 297,252 190,901+ 290,627 199,300 468,198 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OP THE FEDERAL RESERVE 3AWES C1T FEBRUARY 28, 193*+ 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.Cy. Dallas San Fran. F.R.notes in actual circulation 2,979,637 221,840 610,321 235,644 290,446 148,709 123,172 767,788 136,840 95,981 109,109 41,204 198,583 P.R.barik notes in actual circulation 195,376 21,646 52,7^0 18,857 21,804 4,358 4,258 25,287 9,332 6,877 9,3S2 8,75^ 12,081 Leposits: Member bank - reserve account 3,093,119 193,25'4 l,270,7S3 157,939 220,884 96,15U 73,5*44 501,942 100,1S7 57,233 125,946 112,875 182,323 Government 45,261 4,56s 9,612 1,753 2,372 2,636 5,930 3,963 3,512 3,676 2,178 l,is4 3,877 Foreign bank 3,^33 167 1,913 242 223 So SI 293 77 65 65 165 Special deposits: member bank 29,24s 115533 11.,6633U^ M i3 ^,5,50055 11,3,37777 1,773 8,037 2,332 929 1,495 326 1,874 nonnember bsnk 11,934 — S63 1,275 114 759 ?S3 7,155 428 517 Other deposits 8?,320 3,441 31,162 1,760 1,7^8 2,879 5,'+79 1,28c 5,509 4,610 6,988 2,067 15,395 Total deposits 3,265,381 201,583 1,315,967 168,432 229,s46 103,893 87,090 515,523 118,772 66,935 136,672 116,517 204,151 referred availability items 406,909 42,737 102,55k 29,79^ 37,062 35,210 13,056 57,034 1S,0S4 10,137 22,880 16,851 21,480 Capital paid in 145,310 10,65^ 58,492 15,785 12,731 5,011 4,472 12,776 3,917 2,858 4,087 3,891 10,635 Surplus 132,333 9,610 45,217 13,352 1M90 5,171 5,i)+5 20,681 756 3,^20 3,613 3,683 9,645 ?ub script ion for Fed. Dep. Ins. Corp. stock: Paid " * 69,650 5,115 21,265 7,310 7,073 2,904 2,636 9,87^ 2,547 1,755 2,066 2,180 4,925 Called for payment on April 15 69,650 5,115 21,265 7,310 7,073 2,904 2,636 2,5^7 1,755 2,066 2,180 4,925 All other liabilities 3S,706 1,512 14,755 2 , 2 , 6 71 1,245 2,744 4,rsg 1,077 lis6 752 4,040 1,773 t TOTAL LIABILITIES 7,309,002 519,863 2,242,5S6 499,2S7 622,796 309,405 245,209 1,422,975 297,852 190,904 290,627 199,300 468,198 Ratio of total reserves to deposit ar.d F. R. note liabilities combined 66.3 69.2 ?3.9 64.1 65.9 65.9 64.8 70.0 6S.9 65.5 70.6 60.7 64.8 Contingent liability on bills purchased for foreign correspondents 4,335 322 1,907 466 430 170 157 564 i4s 103 125 125 31s MATURITY DISTRIBUTION OF BILLS JttTD SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 60 days 6l to 90 days Over 6 months 6 months 2,700 Bills discounted 64,390 51,^91 5,519 4,2g5 358 37 Eills bought in open market 62,345 26,462 9,399 19,623 6,861 Certificates and bills 933,701 201,999 91,980 130,56g 107,g75 182,278 219,001 Municipal warrants 653 636 17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OK FEBRUARY 28, 1934 (In thousands of dollars) B-801-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.bank by F.R.agent 3,224,644 236,876 680,552 250,269 304,640 155,751 1^2,706 804,556 142,701 100,555 114,998 45,558 245,482 Held by Federal Reserve "bank 245,007 15,036 70,231 1^,625 14,194 7,QH2 19,534 36,768 5,S6l 4,574 5,889 4,354 46,899 In actual circulation 2,979,637 221,840 610,321 235,644 290,446 148,709 123,172 767,733 136,s4o 95,981 109,109 41,204 198,583 Collateral held "by agent as security for notos issued to bank: Gold certificates on hand and due from U.S. Treasury 2,765,318 214,672 683,706 185,000 239,886 121,599 96,385 697,713 123,697 78,444 110,290 38,163 175,763 Eligible paper 95,1^9 1^,769 21,428 11,054 8,463 2,991 2,859 7,384 2,93^ 2,355 2,137 11,149 7,626 U.S. Govt, securities 412,800 8,500 55,000 60,000 32,0^0 45,000 102,000 17,000 21,300 5, OX) 67,000 Total collateral 3,273,267 237,941 705,134 251,054 308,349 156,590 144,244 807,097 143,631 102,099 117,^27 49,312 250,389 FUDERAL RESISTS BAMK NOTE STATEMENT ON FEBRUARY 28, 1934 (In thousands of dollars) Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.Baafc(outstanding) 219,744 23,231 62,920 24,644 22,795 ^,358 5,000 26,927 9,629 7,082 9,^95 9,902 13,761 Held by Federal Reserve bank 10,180 5,787 991 742 l,64o 297 205 113 1,148 "1,680 In actual circulation 195,376 21,646 52,740 18,857 21,804 4,35s M58 25,287 9,332 6,877 9,382 8,75^ 12,081 Collateral pledged against outstanding notes: Discounted and purchased bills 1,144 1,13^ 10 U. S. Govt, securities 249,774 30,000 64,274 26,500 25,000 5,000 6,000 36,000 11,060 10,000 10,000 11,000 15,000 Total 250,918 30,000 64,274 26,500 26,134 5,000 6,000 36,000 11,010 10,000 10,000 11,000 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis