H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, Mar. 95 Federal Reserve Board not earlier March S 193^ # f # CONDITION OP FEDERAL RESS.R7! BAMS Bie daily average volume of Federal Reserve bank credit outstanding during the week ended March J as reported Toy the Federal Reserve banks, was $2,559#000,000 9 >t a decrease of $15,000,000 compared with the preceding -week and of $1,060,000,000 compared with the corresponding week in 1933* On March 7 total Reserve bank credit amounted to $2,539»000 000, a decrease 9 of $28,000,000 for the week. This decrease corresponds with a decrease of $109,000,000 in Treasury cash and deposits with Federal Reserve banks and increases of $155,000,000 in monetary gold stock and of $10,000,000 in Treasury and national bank currency, offset in part by increases of $220,000,000 in member bank reserve balances, $19,000,000 in money in circulation and $8,000,000 in nonmember deposits and other Federal Reserve accounts. Bills discounted declined $3,000,000 at the Federal Reserve Bank of Few York and $5,000,000 at all Federal Reserve banks. The System's holdings of bills bought in open market declined $16,000,000 and of Treasury certificates and bills $13,000,000, while holdings of United States Treasury notes increased $13,000,000 # Changes in the amount of Reserve- bank credit outstanding and in related items during the week and the year ended March f, 193^» were as follows: Increase or decrease since Mar. 7 Feb 28 Mar. 3 # ML 19ft. JL221 (in millions of dollars) Bills discounted -1,355 Bills bought -371 II. S. Government securities +551 Other reserve bank credit + 70 TOTAL RESERVE, BANK CREDIT 2,539 -28 -1,105 Monetary gold stock 7,556 +155 +3,600 Treasury and National "bank currency 2,312 +10 +32 Money in circulation 5,37*+ +19 -1,877 Member bank reserve balances +220 +1,537 Treasury cash and deposits with F.l.banks -109 +2,977 Nonmember deposits and other F.R.accounts H27 + S -59 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March 9,193*+? earlier. B?801a ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Mar. 7,193^ Feb..28,193^ Mar, 8, 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . # 3,895,811 688,239 Gold . . . . . . . .. . . . . . .. 1,856,991 Redenption fund - F. R. notes . . . . 34,163 35,138 138,309 Other cash . . . . • • 210,841 208,727 173,822 Total reserves . . . . .. 397,952 4,139,676 2,857,361 Redemption fund - F. R. hank notes . 11,111 12,595 Bills discounted: Sec. hy U.S.Government obligations 15,127 18,362 982,188 Other bills discounted . . . . .. 46,028 431J48 Total bills discounted, . . . 58,577 64,390 1,413,936 Bills bought in open market . . . .. 46,366 62,345 417,289 U. S. Government securities: Bonds • • • . . • . . . « • * • .. 442,843 442,830 425,313 Treasury notes • 1,068,318 1,055,420 459,015 Certificates and bills . . . . .. 920,702 933,701 996,466 Total U.S.Government securities . 2,431,863 2,431,951 1,880,794 Other securities . 653 653 5.831 Total bills and securities . . 2,537,459 2,559,339 3,717,850 Due from foreign banks 3,128 3,485 3,615 F. R.notes of other banks . . . . .. 13,145 13,293 12,719 Uncollected items # . . . 392,474 410,791 344,518 Bank premises . . . . . . . . . . .. 52,431 52,382 54,029 Fed. Dep. Ins. Corp. stock 69,650 69,650 All other assets 43,636 47,791 54,555 TOTAL ASSETS 7,525,926 7,309,002 7,044,647 L I A B I L I T I ES F. R. notes in actual circulation . . 3,002,345 2,979,637 4,215,006 F.R. bank notes in actual circulation 184,543 195,376 — Deposits: Member bank - reserve account . . . 3,312,727 3,093,119 1,775,983 Government . . . . . . . . . . .. 34,926 45,261 37,643 Foreign bank 4,024 3,433 ^9,175 Special deposits - member bank . .. 27,93S 29,24s 30,240 nonmember bank . 12,114 11,994 776 Other deposits . 89,111 82,326 57,^ Total deposits . . . . . 3,480,900 3,265,381 1,951,222 Deferred availability items . . . .. 394,161 406,909 421,801 Capital paid in . . 146,118 145,310 150,120 Surplus « . .. . . * . . « . * . .» 13s,3S3 138,383 278,599 Subscription for Fed. Dep. Ins. Corp. stock: Paid . 69,650 6699,,665500 Called for payment on .April 15 . . 69,650 69,650 All other liabilities . . . . .. • 40,236 38,706 27,899 TOTAL LIABILITIES 7,525,986 7,309,002 7,044,647 Ratio of total reserves to deposit and F. R. note liabilities combined . . 67.8$ 66.356 46.3$ Rediscounts between F.R. banks . . .. 210,000 Contingent liability on bills purchased for foreign correspondents . . . .. 28,051 44,,993311 44,,883355 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS ASTD' LIABILITIES OF THE FEDERAL RESERVE BMKS OH MARCH 7. 1934 A S S E TS (in thousands of dollars) B-801-b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kang.Cy. Dallas San Fran, Gold certificates on hand and due from U.S. Treasury- 4, 152,94s 292,73s 1,^277,046 259,760 3^3,22U 152,076 124,897 903,672 170,7^1 105,439 172,738 90,825 253,792 Redemption fund - F. R. notes 34,163 2,903 3,354 3,652 3,646 1,S37 2,636 6,583 1,341 1,301 S57 724 5,279 Other cash 210,S4l is,117 51,^93 34,707 13.S95 8,848 10,724 27,587 8,626 9.77S 8,429 5,693 12,944 Total reserves H,397,952 313,752 i,33l,S93 29V-I9 360,765 16S,Sli 13S.257 937,842 150,70s 116,518 182,024 97,242 272,015 Redemption fund - F.R. "bank notes 11,111 1,250 2,80S 1,100 1,087 —. 313 1,471 917 552 434 511 66s Bills discounted: Sec. by U.S.Govt, .obligations 15,127 627 8,042 3,5^3 1,431 292 ES 556611 159 2 — — 332 Other bills discounted ^3,^50 1,045 is,465 14,550 2,585 1,810 1,240 190 998 403 57 767 Total bills discounted 58,577 1,672 26,507 13,093 4,066 2,102 1,328 1,901 349 1,000 403 57 1.099 Bills bought in open market 46,366 8,767 2,646 2,644 4,012 1,505 1,828 4,346 1,558 1,191 1,662 10,705 5,502 U.S.Government securities: Bonds 442,843 24,399 165,518 28,070 32,158 14,125 12,302 76,950 14,493 16,325 14,112 19,281 25,110 Treasury notes 1,068,31s 71,916 353,3^3 75,045 97,592 42,863 37,204 179,^56 42,469 26,656 37,^10 28,163 76,201 Certificates and bills 920,702 61,366 282,894 64,005 83,275 36,575 31,7^6 180,937 36,238 -22,693 31,922 24,031 65,020 Total U.S.Govt, securities 2,431,863 157,681 801,755 167,120 213,025 93,563 81,252 437,3^3 93,200 65,674 83,444 71,475 166,331 Other securities 653 — 143 510 — — — — — — — — — Total bills and securities 2,537,^59 168,120 831,051 188,367 221,103 97,170 84,408 443,590 95,107 67.865 85,509 82,237 172,932 Due from foreign banks 3,128 244 1,131 353 310 123 113 428 10 7 90 90 229 F. R. notes of other banks 13,145 316 3,047 527 662 993 1,000 2,252 1,066 640 1,065 311 1,266 Uncollected items 392,474 41,256 99,309 3i,S05 35,983 32,191 14,159 ^9,930 19,074 9,775 22,632 15,773 20,587 Bank premises 52,431 3,224 11,424 4,oi6 6,788 3,128 2,372 7,382 3,110 1.657 3,^85 1,755 4,090 Fed. Dep. Ins. Corp. stock 69,650 5,115 21,265 7,310 7,073 2,904 2,636 9,87^ 2,5^7 1,755 2,066 2,180 4,925 All other assets 48,636 993 29,555 5,465 1,518 2,196 3,328 1,290 379 1,375 815 895 827 TOTAL ASSETS 7,525,926 53^,276 2,331,483 537,062 635,239 307.516 246,586 1,454,059 302,918 200,144 298,120 200,994 1*77,539 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAPKS ON MARCH 7. 193*+ L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,002,345 222,779 611,369 235,396 293,766 149,233 125,654 775,875 136,843 97,861 110,537 41,904 201,134 F.R.t>ank notes in actual circulation 184,543 21,491 52,77^ 18,888 21,539 — 4,128 19,518 9,962 6,772 9,222 8,598 11,651 Deposits: Member bank - reserve account 3.312.7S7 209,692 1,366,590 191,627 231,258 101,578 73,828 536,845 103,007 67,352 128,514 111,971 190,525 Government 3^,926 2,120 7,012 4,440 3,003 1,974 3,960 2,546 2,463 487 3,323 2,535 1,063 Foreign bank 4,024 247 1,779 357 33O 130 120 433 113 79 96 96 244 Special deposits: member bank 27,938 207 1,^72 4,474 4,182 1,332 1,695 7,705 2,1*95 863 1,359 3l6 1,838 nonmember bank 12,11*+ — 1,094 1,96s 113 658 335 — 6,997 412 — -- 537 Other deposits 89,111 3,791 31,171 2,507 1,840 3,483 4,982 1,186 6,396 4,863 10,259 2,270 16,363 Total deposits 3,1130,900 216,057 1,409,118 205,373 240,726 109,155 84,920 548,715 121,471 74,056 143,551 117,188 210,570 Deferred availability items 39^,l6l 4l,844 96,201 30,782 35,5&4 31,876 14,244 51,984 19,723 10,291 22,220 17,275 22,157 Capital naid in 146,118 10,663 59,280 15,734 12,714 S,004 4,468 12,833 3,919 2,860 4,084 3,891 10,668 Surplus 1.38,383 9,610 45,217 13,352 14,090 5,171 5,145 20,681 4,756 3,^20 3,613 3,683 9,645 Subscription for Fed. Dep. Ins. Corp. stock: Paid 69,650 5,115 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 April 15 69,650 5,115 21,265 7,310 7,073 2,904 2,636 9,874 2,547 1,755 2,066 2,180 4,925 All other liabilities 40,236 1,602 l4,9c/4 2,917 2,750 1,269 2,755 4.705 1,150 1,37^ 761 4,095 1,864 TOTAL LIABILITIES 7,525,986 53^,276 2,331/483 537,062 635,289 307,516 246,586 1,454,059 302,918 "200,144 298,120 200,994 477,539 Ratio of total reserves to deposit and F. R. note liabilities combined 67.8 71.5 65.9 67.6 67.5 65.3 65.7 7O.8 70.0 67.8 71.6 6l.l 66.1* Contingent liability on bills purchased for foreign correspondents 4,931 348 1,769 503 464 184 169 609 l60 111 135 135 3U5+ KATURITY DISTRIBUTION 0? BILLS Ar*D SHORT TERM SECURITIES ' Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days months° 0ver ^ months Bills discounted 58,577 46,328 3,428 4,4o6 4,094 297 24 Bills bought in open market 46,366 14,376 9,662 16,156 6,172 Certificates and bills 920,702 207,760 90,095 143,318 ^9,875 205,778 223,876 Municipal warrants 653 590 10 — — 53 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE HOTS STATS®*? OH MARCH 7, 193*+ (In thousands of dollars) B-801-c Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.I,ouis Minn. Kans.C&r. Dallas San Prfin, Federal Reserve notes: Issued to F.R.bank by F.R.agent 3,£50,0l+0 236,1+1+7 687,163 252,266 310,016 156,615 11+5,197 811,075 1^1,9H5 102,896 116,1+21 1+6,599 21+3,395 Held by Federal Reserve bank 2^+7.695 1^668 75,799 16.870 16.256 7.382 19.51+3 yL200 5U02 M95 1+2,261 In actual circulation 3,002,31+5 222,779 611,369 235,396 293,760 11+9,233 125,651+ 775,375 136,81+3 97,861 110,537 1+l,9d+ 201,131+ Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 2,8l+0,6l8 227,672 683,706 213,000 2119,886 123,399 95,335 712,713 i2i+,697 83,91+1+ 112,290 38,163 175,763 Eligible paper 75,1+26 9,961+ 18,229 9,633 6,1+83 2,51+8 2,259 *+,*+66 1,730 1,693 1,751+ 10,617 6,050 U.S. Govt, securities 376,000 30,000 55.000 32.000 50.000 102,000 I7.OOO 18,000 5.QQQ = 67,000 103,637 Total collateral 3,292,01+1+ 237,636 701,935 252,633 311,369 157,9^7 11+7,61+1+ 819,179 1 ^ 27 119,0i+l+ 1+8,780 2l+8,G13 FEDERAL RESERVE BAM HOTS STATEIIE^T OH MARCH 7, 193*+ (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.B?.nk( outstanding) 206,775 23,060 62,51+2 2U,518 22,362 M 53 20,116 10,237 7,072 9,1+02 9,855 12,658 Held by Federal Reserve bank 22,232 1,569 9,763 5,630 , 823 825 52£ 275 300 ISO 1,257 1,007 In actual circulation lSl+,51+3 21,1+91 52,77*+ 13,83s 21,539 1+,128 19,513 9,962 6,772 9,222 3,598 11,651 Collateral pledged against outstanding notes: Discounted and purchased bills 1,108 1,093 10 2l+l+,771+ 30,000 61+.27U 26.500 25.000 6 OOO 36 000 It,000 10.000 10.000 11.000 15.000 r t U. S. Govt, securities 21+5,332 30,000 61+, 2jk 26,500 26,098 6,000 36,000 11,010 10,000 10,000 11,000 15,000 Total Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis