H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Mar. l6; Federal Reserve Board not earlier* March 15, 193U. COlTDITIOlyT OF FEDERAL RESERVE BASKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended March lk as reported by the Federal Reserve hanks, was $2,535*000,000, 9 a deprease of $2U,000,000 compared with the preceding week and of $1,101,000,000 compared with the corresponding week in 1933• On March Ik total Reserve hank credit amounted to $2,532,000,000, a decrease of $7*000,000 for the ^eek. This decrease corresponds with decreases of $68 ,000,000 in Treas"ory cash and deposits with Federal Reserve banks and $29,000,000 in money in circulation and increases of $^91000,000 in monetary gold stock and $20,000,000 in Treasury and national "bank: currency, offset in part by increases of $lHl,000,000 in member bank reserve balances and $17,000,000 in nonmember deposits and other Federal Reserve accounts. The System's holdings of bills discounted declined 000,000, of bill* bought in open market $9,000,000, and of Treasury certificates and bills $2^,000,000, while holdings of United States Treasury notes increased $2U,000,000 # Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended March l4 193^» were as follows: f Increase or decrease since M'ir. Ik Mar. 7 Mar. 15 (In millions of dollars) Bills discounted -1.17S 55 Bills bought -366 37 -9 U. S. Government securities 2,432 +533 Other Reserve "bank credit S +6 +17 TOTAL RESERVE BAM CREDIT 2,532 -7 -99^ Monetary gold stock: 7,605 +3,Ski Treasury and ITational bank currency 2,332 +20 + 76 Money in circulation -29 -1,637 5,3^5 Member bank reserve balances 3,1+54 +ibi +1,490 Treasury cash and deposits with F.R.bariks 3,226 -6s +2,909 Uonmember deposits and other F.R.accounts +17 -39 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, March l6;193^; not earlier. B-SOla ASSETS AM) LIABILITIES OF THE TWELVE FEDERAL RESERVE BAFKS COMBINED (In thousands of dollars) Mar. Mar. 7,193^ Mar. 15, 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . . . . M52.321 l+,152,9^8 235.291 urOld . « • . • . .. » » . .. . « .. 2,01+0,1+28 — Redemption fund ~ F. R. notes . . . . . 3^,163 135,052' Other cash • 217,^11 210,81+1 211+.726 Total reserves . . . . . .. 1+,503,776 K397,952 3,225,503 Redemption fund - F. R. "bank notes . . 11,1+95 11,111 170 Bills discoimted: Sec. by U.S. Government obligations . 12,607 •15,117 769,973 Other bills discounted . . . . . .. 1+2,280 •1+3,1+60 1+63,261+ Total bills discounted . . . 5MS7 53,577 1,233,237 Bills bought in open market . . . . .. 1+6,366 1+03,316 3377,,^^5599 U.S. Government securities: Bonds 1+1+2,875 1+1+2,81+3 1+25,013 Treasury notes 1,092,063 1,068,318 1+65,081+ Special Treasury certificates . . .. — 9,000 Other certificates and bills . . .. 896,902 '920,702 999,927 Total U.S.Government securities . 2,l+31,8Uo 2,1+31,863 1,899,031+ Other securities . . . . . . . . . .. 653 65? 5,61+1+ Total bills and securities . . 2,52U,S39 2,537,^59 3,5^1,231 Dae from foreign banks 3,132 3,128 3,610 F. R. notes of other banks . . . . .. 15,907 13,11+5 17.955 Uncollected items . . .. 1+82,658 392,1+74 366,178 Bank premises . .. . . . . . . . .. 52,431 52,1+31 5U,028 Fed. Dep. Ins. Corp. stock . . . . .. 69,650 69,650 — All other assets . . 50,965 1+8,636 52,61+7 TOTAL ASSETS 7,525,9S6 7,261,322 7.71M53 L I A B I L I T I ES F. R. notes in actual circulation . . 2,9*9,052 3,002,31+5 1+, 292,702 F.R.bank notes in actual circulation # 115599,,337711 l8l+,5l+3 33,,330011 Deposits: Member bank - reserve account . . .. 3,1+5*+, 1+92 3,312,727 1,963,720 Government . .. 16,128 3^,926 27,688 Foreign bank . 8,99^ l+,02l+ 23,01+0 Special deposits - member bank . . . 25,316 27,93s 1+0,305 nonmember bank . # 11,1+05 12,lll+ 1+.851 Other deposits . . . . . . . . .. . 97,7^7 89,111 6l+, 075 Total deposits . 3,6ll+,082 3,1+80,900 2,123,739 Deferred availability items . . . . • 1+78,730 39^,161 38l+,676 Capital paid in . . . . .. ll+5,820 11+6,118 150,210 Surplus . . . . .. 138,323 132,323 272,599 Subscription for Fed. Dep. Ins. Corp. stock: Paid . . . . . . . . . . . . . . .. 69,650 69,650 Called for payment on JSpril 15 . . . 69,650 69,650 All other liabilities • 50,115 It0,236 28.095 TOTAL LIABILITIES . . .. 7*, 71M53 7,525,926 7,261,322 Ratio of total reserves to deposit and •^.R. note liabilities combined . . . 68.2 67.2$ 50.3$ .... Rediscounts between F. R. banks . .. — ll+3,800 Contingent liability on bills purchased for foreign correspondents . . . .. ^,939 ll++,,9933ii 2277,,^^7722 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BARKS Oil MARCH lU 193^ f A S S E TS (In thousands of dollars) B~801-h Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Qy. Dallas San Fran, Gold certificates on hand and due from U. Treasury U,252,321 316,296 1,25M92 2S3,H6l 3^7,369 156,^13 133,373 9^1,082 175,108 108,23^ 172,038 10U,36^ 260,391 Redemption fund - F.R notes 3k,0kk 2,S10 3,2l& 3,528 3,579 1,878 3,120 6,519 1,287 1.294 807 717 5,261 other cash 217,H11 18,552 52,3^6 34,50*+ 1^,9^9 S,812 10,595 28,453 9,472 10,105 9,602 6,693 13,32s Total reserves ^,503,776 337,653 1,309,722 321,^93 365,S97 167,103 1^7,088 976,05^4 125,867 119,633 lZ2,kkl m,77^ 27S9SO f Redemption fund - F.R.hank noJ ;es 11,1+95 1,250 3,101 1,066 1,215 269 1,1+71 33s 5U7 500 1+7U 761+ Bills discounted: — Sec. "by U.S.Govt, obligatioi LS 12,607 51+9 7,512 2,1+36 1,020 302 36 31I+ 103 1 5 22*+ Other hills discounted 1+2,230 965 is,293 ll+,326 2,1+05 1,65s 1,032 1,270 156 9U3 357 61 761+ Total hills discounted 5M27 1,51^ 25,205 16,312 3,>+25 1,960 l,l6S l,53l+ 261+ 91+1+ 357 66 983 Bills "bought in open market 37,^59 6,55^ 2,1+50 2,21+5 2,933 1,193 1,177 3,31^ 1,255 1,029 1,3^ 9,1+lS ^,501 U. S. Government securities: Bonds 1+1+2,875 2^,399 165,51s 23,070 32,156 11+.126 12,297 76,91+8 li+,l+9l+ 16,361 ll+,ll3 19,283 25,110 Treasury notes 1,092,063 72,255 357,561 76,021+ 93,367 1+3,1+22 37,690 192,01+7 ^3,023 26,91+s 37,399 28,531 77,196 Certificates and hills S9b,902 60,1+27 273,676 63,026 S2,001 36,015 31,260 168,3ns 35,653 22,31+s 31,1+32 23,661 61+, 025 Total U.S.Govt, securities 2,1+31,31+0 157,631 801,755 167,120 213,021+ 93,563 31,21+7 ^37,3^3 93,200 65,657 83,1+1+1+ 7l,U75 166,331 Other securities 653 — 1U3 510 — — — — — — Total "bills and securities 2,521+,339 165,7^9 830,153 136,637 219,1+32 96,716 33,592 1+1+2,21+1 9^,719 67,630 85,11+1 30,959 171,820 Due from foreign tanks F R. notes of other hanks 3,132 237 1,196 3l+2 300 119 109 1+1I+ 10 7 SS 3S 222 # Uncollected items 15,907 351 5,192 1+17 1,233 732 1,136 2,267 960 1+55 1,069 256 1,739 Bank premises 1+32,653 1+9, 51s 127,16s 37,506 1+6,01+3 l|0,l+ll+ 16,095 61+,l+S7 22,576 10,1+29 26,628 17,932 23,312 Fed. Dep. Ins. Corp. stock 52,1+31 3.22U il,l+2U i+,0l6 6,733 3.12S 2*372 7,332 3,110 1,657 3,^35 1,755 l+,090 All other assets 69.650 5,115 21,265 7,310 7,073 2,90l+ 2,636 9,371+ 2,5l+7 1,755 2,066 2, ISO l+,925 - 50,965 977 30,951 6,623 1,518 2,202 3,161+ 1,^39 366 1,357 6S3 881 80l+ TOTAL ASSETS 7,7lM53 564,079 2,3^0,232 565,^60 649,499 313,36s 256,461 1,505,629 310,993 203,470 302,107 216,349 1+87,206 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A5D LIABILITIES OP THE FEDERAL HSSSWS BANKS ON MARCH l4, 1934 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 2,989,052 221,647 6lO,64l 237,124 294,460 147,764 125,707 7o9,764 136,326 96,701 109,25U 41,209 193,^55 F.R.bank notes in actual circulation 159,371 21,412 51,5^1 18,360 14,003 -- 3,035 14,464 10,076 6,187 ^,279 5.900 10.17U Deposits: Member bank: - reserve account 3,454/492 232,S23 1,358,657 213,057 244,219 100,660 80,586 582,692 106,152 72,1+41+ 137,21+1 125,065 200,886 Government 16,12s 1,106 1,600 1,551 1,706 1,150 2,248 1,364 1,852 1,283 50S 1,379 381 Foreign bank 8,934 636 3,217 919 848 33S 309 1,H3 292 203 2I+7 2I+7 627 Special deposits: member bank 25,316 190 l,4i4 4,332 3.U9U 1,130 1,623 7,125 2,202 70l+ 1,1+71+ nonmember bank 11,405 — 1,061 1,991 115 610 252 6,327 377 1,299 3.29 672 Other deoosits 97,7*47 4,522 29,65s 4,933 1,569 M4l 9,^86 1,566 8,463 3,968 16,51+s 10,521+ 1,869 Total deposits 3,6I1+,082 239,277 1,395,617 226,783 251,951 108,527 9^,504 593,860 125,288 78,979 149,819 128,889 220,583 Deferred availability items 1+78,730 1+3,622 119,926 35,1+31 !<5,30S 39,81+3 15,622 67,1+05 23,387 10,544 26,157 13,^93 25,992 Capital paid in ll+5,S20 10,665 59,116 15,706 12,722 4,984 i+,i+io 12,837 3,921 2,850 4,066 3,806 10,657 Surplus 13s,3S3 9,610 1+5,217 13,352 ii+,090 5,171 5,11+5 20,681 4,756 3,^20 9,645 3,613 3,633 Subscription for Fed. Dep. Ins.. Corp., stock: Paid 69,650 5,H5 21,265 7,310 7,073 2,90l+ 2,636 9,874 2,5^7 1,755 2,066 2,180 4,925 Called for payment on April 15 69,650 5,H5 21,265 7,310 7,073 2,90l+ 2,636 9,871+ 2,547 1,755 2,066 2,180 4,925 All other liabilities 50,115 l,6l6 15,61+1+ l+,08l+ I t S ll IT 271 _.6i2XO_ 2,1^5 1,279 787 8,929 1,8^ 1 TOTAL LIABILITIES 7,7lM53 564,079 2,31+0,232 565,1+60 61+9,1+99 313,36s 256,1+61 1,505,629 310,993 203,1+70 302,107 216,31+9 457,206 Ratio of total reserves to deposit and F. R. note liabilities combined 68.2 73.3 65.3 69.3 67.0 65.2 66.8 71.6 71.0 68.1 70.4 65.7 66.6 Contingent liability on bills purchased for foreign correspondents 4,939 34s 1,776 503 464 184 169 609 160 ill 136 136 343 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 54,857 40,825 2,332 5,358 6,045 292 35 Bills bought in open market 37,459 9,966 13,973 8,992 4,528 Certificates and bills 896,902 205,729 61,190 147,928 29,325 199,878 252,852 Municipal warrants 653 590 10 53 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BOTE STATEMENT OF MARCH l4, I93U (In thousands of dollars) B-SOl-c 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 P.R.agent 3,244,280 235.993 6SH,183 251,116 312,201+ 155,921 1*45,O01 811,529 l4i,is6 101,653 115,906 46,265 242,71s Held by Federal Reserve batik 255,228 14,346 73,5^2 13,992 17,7^4 8,157 19,894 Hi,765 4,860 4,957 6.652 5.056 44.263 In actual circulation 2,939,052 221,647 610,641 237,124 294,460 147,764 125,707 769,764 136,326 96,701 109,254 4i,209 198,455 Collateral held by agent .as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 2,897,118 232,672 683,706 228,500 252,886 123,399 100,385 732,713 130,697 85,944 112,290 38,163 175,763 Eligible paper 63,030 7,585 17,101 8,165 4,872 2,203 1,476 3,106 1,373 1,504 1,389 9,336 4,920 U.S. Govt, securities 326,400 — 15.000 ,000 ^2.000 45.000 82.000 11.000 16 Hop 5000 — 65 000 r t r Total collateral 3,286,548 240,257 700,807 251,665 312,758 157,602 l46,s6l 817,819 143,070 103,s4s 118,679 47,499 245,683 FEDERAL RESER7E BAM BOTE STATEMENT 01? MARCH 14, 1934 (In thousands of dollars) Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.Barik(outstanding) 182,262 22,290 62,335 24,372 14,650 3,909 15,116 10,358 6,372 4,402 6,804 11,654 Held by Federal Reserve bank 878 874 712 282 185 123 904 1,480 In actual circulation 159,371 21,412 51.5H1 18,360 14,003 3,035 l4,4o4 10,076 6,187 4,279 5.900 10,174 Collateral pledged against outstanding notes: Discounted and purchased bills 1,038 1,029 9 U. S. Govt, securities 207,lib 30,000 64,274 26,500 15,000 4,000 16,000 11,000 10,000 5,000 11,000 15,000 Total 208,812 30,000 64,274 26,500 16,029 4,ooo 16,000 11,009 10,000 5,000 11,000 15,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis