H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-301 Friday morning, .Apr, 6; Federal Reserve Board not earlier April 5, I93U. # CONDITION OF FEDERAL RESERVE BANES The daily average volume of Federal Reserve bank credit outstanding during the week ended April H, as reported by the Federal Reserve banks, was $2 535»OOO OOO, an increase of $12,000,000 compared with the preceding week and a t f decrease of $70,000,000 compared with the corresponding week in 1933* On April k total Reserve bank credit amounted to $2,509»000,000 a decrease f of $10,000,000 for the week* This decrease corresponds with a decrease of $27t000,000 in nonmember deposits and other Federal Reserve accounts and increases of $22,000,000 in monetary gold stock and $13,000,000 in Treasury*and national bank currency, offset in part by increases of $35*000,000 in money in circulation, $11,000,000 in member bank reserve balances and $5»000,000 in Treasury cash and deposits with Federal Reserve banks* The System*s holdings of bills discounted declined $5,000,000, of bills bought in open market $3,000,000, and of Treasury certificates and bills $9,000,000, while holdings of United States Treasury notes increased $9,000,000* Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended April H, 193^» as follows: Increase or decrease since ^pr. k Mar. 2S Apr. 5 193^ 1933 . (In millions of dollars) Bills discotinted US -5 -393 Bills bought 26 -3 -260 U. S. Government securities 2.U32 — +595 Other Reserve hank credit U -1 -11 TOTAL RESERVE BANK CREDIT 2,509 -10 -70 Monetary gold stock 7,703 +22 +3,707 Treastiry and national bank currency 2,369 +13 +72 Money in circulation 5,371 +35 -£03 Member bank reserve balances 3,^0 +11 +1,^7*+ Treasury cash and deposits with F.R.banks 3,323 + 5 +2,S82 Nonmember deposits and other F,R, accounts H-37 -27 JJ-5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Heleased for publication Friday morning, April 6,193*+;' not earlier, B-SOla ASSETS A1TD LIABILITIES OE THE TWELVE EEDEHAL RESERVE BAMS COMBINED (In thousands of dollars) Apr. Mar. 28,1931+ Apr. 5,1933 A S S E TS Gold certificates on hand and due from U. S. Treasury ^,309,575 U,221,197 913,536 Gold 2,288,822 Redemption fund- E. R. notes . . 33,7*+9 32,911 76,1+79 Other cash . 220,886 319,655 Total reserves . . .. l+,55s,502 U,53l+,991+ 3.59S,1+92 Redemption fund - F, R. bank notes 8,513 9,038 1,100 Bills discounted: Sec. "by U.S. Government obligations 12,21+1+ 13,592 11+0,51+3 Other hills discounted . . . . .. 38,987 300,522 Total hills discounted . . . 52,579 1+1+1,065 ^7,529 Bills bought in open market . . . . . 26,0*15 29,359 285,973 U. S. Government securities: Bonds . ; ^2,795 ljl+2,928 1+21,77*+ Treasury notes . . . . . . . . .. 1,222,681 l,2ll+, 2I+6 !+57,871 Certificates and bills 766,256 77*+>712 957,723 Total U«S.Govt. securities 2,1*31,762 2,1+31,886 1,837,368 Other securities . . . . . . . . .. 561 561 5t5l«L Total bills and securities . . . 2,505,299 2,511+,3S7 2,569,9^7 Dae from foreign banks . , 3,131 3,131 3,620 F. R. notes of other banks 16,551 15,876 2l+,2ll Uncollected items . . .. 1+27,93s 395,8UU 321,1+30 Bank premises 52,503 52,1+32 5^,123 Fed. Dep. Ins. Corp. stock 69,650 69,650 All other assets 1+9,910 52^599 TOTAL ASSETS . . . 7,691+,036 7,6145,262 6,625,522 L I A B I L I T I ES F« 3. notes in actual circulation . . . 3,032,016 2,997,036 3,61+1+437 F. R. bank note circulation - net . . . 106,552 122,71+3 15,930 Deposits: Member bank - reserve account . . . . 33,,^^99,,330033 33,,UU33SS,,99ii++88 1,975,731 Government . • . • • • • • 66,SS3 56,1+1+3 85,596 Foreign bank . . . . . .. 5,0^9 6,13s 10,935 Special deposits - menber bank . . . 20,996 22,31+7 69,3^+2 no rmemb er b &nk # 9;953 10,952 17,1+66 Other deposits • 10U,109 121,921+ . 36,98^ Total deposits • . . » •• 3.656.79a 3,6^,752 2,196,055 Deferred availability items U27fSBk 39U,i+6g 3l£,7*+5 Capital t)aid in . . . • . . 146,273 11+5,586 ii+9,6i7 Surplus . . . . • • • * « • . » « . .. 138.363 138,32!+ 278,599 ^Subscription for Fed. Dep. Ins. Corp. stock»: Paid 69,650 69,650 Called for payment on Aoril 15 . .. 69,650 69,650 All other liabilities >6,730 25,1+39 50,993 TOTAL LIABILITIES 7,691+, 036 7,61+5,262 6,625,522 Batio of total reserves to deposit and F.R.note liabilities combined . . .. 6688..22$$ 68.2$ 61.6$ Contingent liability on bills purchased for foreign correspondents . . . .. !+,77i *+,935 50,330 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 4, 1934 A S S E TS (In thousands of dollars) B-SOlb Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 4,309,575 341,390 1,361,201 282,67s 340,857 136,084 124,197 882,685 166,996 103,553 156,995 93,194 269,745 Redemption fund - F. R. notes 33,749 2,739 2,853 3,334 3,455 1,913 3,035 7,333 1,221 1,273 777 692 5,064 Other cash 215,173 16,263 52,168 35,662 14,677 9.156 11,110 28,713 9,935 10,406 9,584 6,331 11.123 Total reserves 4,558,502 360,392 1,416,222 321,724 353,989 197,158 133,342 918,736 173,202 115,232 167,356 100,217 285,932 Redemption fund - F.R.bank notes 3,513 1,250 2,452 858 1,215 269 734 247 250 474 764 — Bills discounted: Sec. by U.S.Govt, obligations 1122,,224444 824 6,793 2,303 545 333 1S6 967 164 1 —_ —— 128 Other bills discounted 35,285 1,086 l4,si4 12,421 2,018 1,377 690 1,236 128 659 313 157 386 Total bills discounted 47,529 1,910 21,607 14,724 2,563 1,710 876 2,203 292 660 313 157 514 Bills bought in open market 26,045 4,420 2,402 1,843 2,042 g6o 931 2,333 821 673 856 6,954 1,910 U.S. Government securities: Bonds 444422,,779955 24,4oo 163,251 28,070 32,159 14,127 13,033 76,949 14,494 16,302 15,620 19,280 25,110 Treasury notes 1,222,681 81,726 333,165 35,276 110,904 48,709 44,sso 23.8,213 48,261 30,229 47,720 32,004 86,594 Certificates and bills 766,236 51,555 235,339 53,774 69,961 30,727 28,314 142,131 30,445 19,06s 30,104 20,191 54,627 TotaL U.S.Govt, securities 2,431.762 157,6ol 736,755 167,120 213,024 93,563 86,227 437,343 93,300 65,599 93,444 71,475 166,331 Other securities 563 — 53 510 — — — — Total bills and securities 2,505,399 164,011 810,817 134,197 217,629 96,133 88,034 441,879 94,313 66,932 94,613 73,586 168,755 Due from foreign banks 3,131 237 1,194 342 300 119 110 4i4 10 7 88 S3 222 P. R. notes of other banks 16,551 335 5,762 377 825 1,074 1,199 2,357 1,155 366 1,34s 306 947 Uncollected items 427,933 48,441 109,032 36,578 40,242 34,893 15,229 54,105 19,593 10,761 23,089 14,50s 21,462 Bank premises 52,503 3,224 11,434 4,077 6,788 3,128 2,372 7,332 3,111 1,657 3,485 1,755 4,090 Fed. Dep. Ins. Corp, stock 69,650 5,H5 21,265 7,310 7,073 2,904 2,636 9,374 2,5,47 1.755 2,066 2,180 4,925 All other assets 51,3% 912 33,529 5,285 1,482 2,055 2,935 1,456 342 1,252 596 793 712 TOTAL ASSETS 7.694,036 533,917 2,411,707 560,748 634,543 337,469 251,126 1,436,703 300,007 193,209 292,891 193,907 487,809 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 4, I93H L I A B I L I T I ES (In thousands of dollars) B—801c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 3,032,016 240,945 629,735 241,071 294,606 146,026 127,763 771,166 134,810 96,962 108,275 40,212 200,445 F.R.notes in actual circulation 106,552 8,927 46,187 13,686 13,412 — 1,308 5,856 3,002 4,287 3,396 6,491 F.R.barik note circulation - net Deposits: Member "bank - reserve account 3,41*9,803 248,651 1,401,688 205,93s 227,849.131,478 77,490 539,324 105,55s 65,079 130,33^ 116,577 199,S37 66,823 396 25,646 2,831 7,74o 834 2,693 5,539 2,35^ ^,905 3,35S 1,3^3 9,244 Government 5,(^9 Foreign bank 44i 1,03s 633 5S9 233 215 773 202 l4i 172 172 435 Special deposits: member "bank 20,996 108 1,405 4,589 2,931 1,121 5,^31 597 666 1,201 315 1,171 no member bank 9.95S 1,015 1,801 91 621 107 5,505 193 - - 625 Other deposits 104,109 3,613 32,212 9,71^ 4,015 5.3S9 7,563 2,126 9,426 5,294 8,562 1,710 14,485 Total deposits 3,656,79s 253,209 1,463,004 225,511 243,215 139,676 39,529 553,193 123,642 76,273 143,627 120,117 225,797 Deferred availability items 427,9S4 48,664 102,607 33,349 39,536 34,560 14,906 54,231 19,71^ 10,916 24,007 15,931 23,013 Capital paid in 146,273 10,671 59,700 15,625 12,686 4,963 4,417 12,665 3,9^2 2,846 4,145 3,953 10,655 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 Subscription for Fed. Dep. Ins. Corp. stock: Paid 69,650 5,H5 21,265 7,310 7,073 2,904 2,636 9,S7H 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 2,904 2,636 9,874 2,5^7 1,755 2,066 2,180 4,925 All other liabilities 46,730 1,661 16,727 3,03^ 2,852 1,265 2,736 5,019 2,193 1,275 805 7,200 1,913 TOTAL LIABILITIES 7,69^,036 583,917.2,411,707 560,748 63^,5^3 337,^69.251,126 1,436,703 300,007 193,209 292,391 193,907 487,309 Ratio of total reserves to deposit and F.R.note liabilities combined 68.2 72.9 67.7 69.0 66.7 69.0 63.7 69 .H 6S.9 66.5 66.4 62.5 67.1 Contingent liability on bills purchased for foreign correspondents 4,771 355 1,542 513 474 138 173 622 163 114 138 13S 351 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 ^7,529 32,99S 4,160 4,792 5,330 219 30 Bills bought in open market 26,045 13,193 7.SS4 3,442 1,526 Certificates arid bills 766,286 65,33S 107,179 55,075 116,816 205,194 216,6s4 Mianicipal warrants 563 RIO 17 36 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH APRIL 4, I93U (In thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran* Federal Reserve notes: Issued to F.R.bank by T.R.Agent 3,310,969 257,916 728,U62 257,365 3lO,6oH 153,852 1^6,83^ 208,093 139*7^2 101,699 115.189 ^072 2^47,121 Held "by Federal Reserve "bank 273,953 lS,971 98,727 l6,29U 15,992 7,826 19,071 3^,927 ^,952 ^,737 6,91^ 3,8bO ^6,676 In actual circulation 3,032,016 2^0,9^5 629,735 241,071 294,606 146,026 127,763 771,166 134,810 96,962 108,275 1+0,212 200,41+5 Collateral held by agent as security for notes issued to bank»; • Gold certificates on hand and due from U. S, Treasury 2,924,345 256,672 723,706 231,200 254,686 139,675 95,385 679,213 127,936 79,9W 109,290 38,675 127,763 Eligible paper 47,06s 5,852 i*,39i 6,wi 3,144 1,680 1,197 2,790 978 8^2 9bl 6,963 1,829 U. S. Govt, securities 376,000 20,000 55,000 15,000 52,000 131,000 13,000 22,00" 8,000 6c,000 — — Total collateral 3,3^7,^13 262,52k 738,097 257,6U1 313,030 156,355 1,48,582 313,003 l4l,9l4 102,736 118,251 1+5,638 249,592 FEDERAL EE SERVE BANK ITOTE STATEMENT Oil APRIL 4, I93I+ (in thousands of dollars) Total Boston iTew York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Xans.CF. Dallas San ]Praa Federal Reserve bank notes: Issued to F. R.3 ank( outstanding) 120,386 9,771 48,186 21,035 13,950 1,1+69 6,13U 3,372 4,402 4,113 7,95^ Held by Federal Reserve bank 13,S3^ 844 1,999 7,3^9 53S 161 278 370 115 717 1,^63 In circulation - net* 106,552 8,927 H6,1S7 13,686 13,412 1,308 5.S56 3,002 l+,287 3,396 6,1+91 Collateral pledged against outstanding notes: Discoimted and purchased bills 996666 — — 955 11 — — — — — U. S. Govt, securities 150,77^ 10,000 1+9,27!+ 26,500 15,000 2,000 11,000 10,000 5,000 7,000 15,000 Total 151.7^0 10,000 U9,27U 26,500 15,955 " 2,011 — 11,000 10,000 5,000 7,000 15,000 *Does not include $70,078,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money with the Treasurer of the United States. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis