H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMSMT FOR THE PRESS Released for publication B-801 Friday morning, Apr. 13; Federal Reserve Board not earlier. April 12, IS31K COFDITIOF OF FFDERAL RESERVE 3UKS The daily average volume of Federal Reserve tank credit outstanding during the week ended April 11, as reported by the Federal Reserve banks, was $2,511,000,000, a decrease of $2*4,000,000 compared with the preceding week and of $>48,000,000 compared with the corresponding week in 1933 • On April 11 total Reserve bank credit amounted to $2,^92,000,000, a decrease of $17,000,000 for the week. This decrease corresponds with decreases of $2)4,000,000 in money in circulation and $$1,000,000 in Treasury cash and deposits with Federal Reserve banks and increases of $2^,000,000 in monetary gold stock and $12,000,000 in Treasury and national bank: currency, offset in part by increases of $110,000,000 in member bank reserve balances and $23,000,000 in nonmember deposits and other Federal Reserve accounts. The System's holdings of bills discounted declined $5,000,000, of bills bought in open market $9,000,000, of United States bonds $12,000,000 and of United States Treasury notes $^3,000,000, while holdings of Treasury certificates and bills increased $55,000,000, Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended April 11, 193^> ^ore as follows: Increase or decrease since Aor. 11 Apr H Apr. 12 # L 1933 (in millions of dollars) Bills discounted -5 -3S5 Bills bo-ught 17 ~9 -230 U. S. Government securities 2,U32 — +595 Other Reserve bank credit * -k -16 TOTAL RESERVE BAM CREDIT -17 -36 Monetary gold stock 7,732 +29 +3,726 Treasury and National bank currency 2,381 +12 +78 Money in circulation 5,3^7 -513 Member bank reserve balances 3.5SO +110 +1.U6U Treasury cash and deposits with F.R, banks 3,239 -su +2,8^9 Nonmember deposits and other F.R.accounts s*6o +23 -31 •Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, A">ril 13,1934; ^-ot earlier. B-SOla ASSETS AED LIABILITIES OF THE TWELVE FEDERAL RESERVE BASICS COMBINED (In thousands of dollars) Apr. 11,193*1 Apr. 4,1934 Apr. 12, A S S E TS Gold certificates on hand and due from U. S, Treasury ^,336,S37 44,,330099,,557755 911,248 Gold — 2,330,772 Redemption fond - F. R. notes . . . . 32,93s 33,749 73,426 Other cash . , 225,771 215.17S 323.731 Total reserves . . 4,645,596 4,553,502 3,639,177 Redemption fund - F. R. "bank notes . . 3,362 8,513 1,1+00 Bills discounted: See. by U.S.Government obligations # 9,27.6 12,244 130,707 Other bills discounted . . . . . .. 33,9.75. .. 35,225. 297,7^9 Total bills discounted . . .. 43,251 47,529 428,456 Bills bought in ODen market . . . .. 17,059 26,045 246,964 IT. S. Government securities: Bonds . . . . . . . . .. U3I,225 442,795 421,590 Treasury notes 1,179,906 1,222,681 457,872 Certificates and bills . . . . .. o20,S4o 766,286 957,721 Total U.S. Govt, securities . 2,431,979 2,431,762 1,837,183 Other securities 562 563 5,541 Total bills and securities . 2,492,851 2,505,899 2,518,144 Due from foreign banks . . . . . .. 3,130 3,131 3,760 •20,670 F. R. notes of other banks 17,340 16,551 Uncollected items . . . .. 4lS,7SO 427,938 321,107 Bank premises . • • • . . • • • • .. 52,556 52,503 54,122 Fed Dep. Ins. Corp. stock 69,650 69,650 # — All other assets . . .. 52,677 51,349 52,646 7,694,036 6,611,026 TOTAL ASSETS 7.760,9^2 L I A B I L I T I ES F. R. notes in actual circulation . . 3,025,G12 3,032,016 3,547,285 F. R. bank note circulation - net . . S3,336 106,552 19,890 Deposits: Member bank - reserve account # . . 33,,556600,,002255 3,449,803 2,096,079 Government , 29,395 66,883 34,992 Foreign bank U,623 5,049 10,697 Special deposits - member bank . # 21,216 20,996 72,993 nonmember bank # 7,210 9,958 19,451 Other deposits . . . .. 115,279 104,109 39,518 Total deposits . . . .. 3,737,74s 3,656,798 2,273,730 Deferred availability items . . .. 422,619 427,984 314,530 149,636 Capital paid in # 146,339 146,273 Surplus 133,323 138,383 278,599 Subscription for Fed Dep. Ins Corn, stock: # # Paid 69,650 69,650 C lled for payment on April 15 . . 69,650 69,650 a All other liabilities # , 62,355 46,730 27,356 TOTAL LIABILITIES 7,760,942 7,694,036 6,611,026 Ratio of total reserves to deposit and F. R. note liabilities combined . 68.7$ .68.2$ 6622,,55$$ Contingent liability on bills purchased for foreign correspondents . . .. 4,669 4,771 48,274 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JL5D LIABILITIES 01* THE FEDERAL RESERVE BAMS ON. APRIL 11, I93I+ A S S E TS (In thousands of dollars) B-80Xb Total Boston l!e*.7 York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San. Pran Gold certificates on hand and due from U. S. Treasury l*,386,837 351.6*6 1,291,022 282,1*05 332,U77 209,951 135,2^3 967,95^ 135,339 101,01*3 151,509 92,721* 2Sl*,975 Redemption fund - P. R. notes 32,933 2,653 2,685 3.3W 3,333 1,353 3,001 7,237 1,215 1,262 768 677 1*,990 Other cash 225,771 17,309 53,3^ 35,6iH 13,389 9,860 11,731 29,512 10,269 11,262 9,733 6,291 11,952 !fotal reserves K6^5,596 371,607 1,352,051 321,333 3^9,699 221,661+ 11*9,975 i,00i*,703 197,373 113,567 162,015 99,692 301,917 Redemption fund - P.R.baiiLc notes 8,362 1,250 2,1*01 85s 1,215 — 269 — 73b 2U7 150 U7I* 76U Bills discounted: Sec. by U.S.Govt, obligations 9,276 1*20 1,872 700 197 222 102 151 11 - 127 Other bills discounted 33,975 331 lU,l*i6 11,975 1,925 1,1*01 61*7 1,211 111 608 307 175 36s Total hills discounted ^3,251 1,251 19,390 13,81*7 2,625 1,593 869 1,313 2b2 619 307 175 ^95 Bills bought in open market 17,059 1,392 2.H31 1,567 1,167 551 71+6 2,132 1*25 31*7 1*67 l*,027 1,367 U.S. Government securities: Bonds 1+31,225 23,395 159,113 2277,,0011**33 3311,,^^7722 13,825 12,750 7733,,6611**55 llll**,,119933 1166,,330033 15,325 19,081 2l*,575 Treasury notes 1,179,906 73,563 376,271 82,1*77 106,613 1*6,826 1*3, lUi* 210,665 1*6,19^ 29,071 1+5,871* 30,765 S3,2l*3 Certificates and hills 820,81*8 55,223 251,371 57,600 7H,9**O 32,912 30,351 153,033 32,60s 20,1*23 32,21*5 21,629 53,513 Total U.S.Govt, securities 2,U31,979 157,681 786,755 167,120 213,025 93,563 36,21*5 ^37,3^3 93,200 65,797 93,^i*V 71,1*75 166,331 Other securities 562 53 509 - — — — — — — — Total bills and securities 2,^92,651 160,82l* 809,129 182,983 216,817 95,712 37„360 1*1*0,788 93,337 66,763 9^,218 75,677 168,193 Due from foreign banks 3,130 237 1,193 31*2 300 119 110 1*1!* 10 7 88 88 222* P. R. notes of other banks 17,3^0 33^ 5,753 1*59 1,005 1,199 1,130 2,560 1,121 661 1,1*96 257 1,360 Uncollected items 1*18,780 i+l*,22l+ 109,835 32,630 39,228 35,928 13,519 53,532 18,586 10,577 23,101* 15,773 21,79!* Bank premises 52,556 3,221* 11,1*31* 1*, 131 6,788 3,128 2,372 7,332 3,110 1,657 3,1*85 1,755 M90 Ped. Dep. Ins. Corp. stock 69,650 5,H5 21,265 7,310 7,073 2,901* 2,636 9,871* 2,5^7 1,755 2,066 2,180 1*,925 All other assets 52,677 910 3^,265 5,921 1,1*59 2,035 2,8lU 1,1*21 31*1 1,251* 567 985 705 TOTAL ASSETS 7,760,91*2 527,725 2,3^7,331 555,967 623,5^ 362,629 260,685 1,520,72U 317,709 196,1*88 287,189 196,881 503,970 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OP THE FEDERAL RESERVE BAITKS OF APRIL II, 1934 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,025,812 241,490 623,47b 241,683 297,164 144,525 128,531 770,010 133,934 96,319 107,9^2 39,225 200,913 F.R.bahk: note circulation - net SS.336 3,329 ^,747 8,099 13,3^7 — 1,254 4,926 1,817 2,264 3,275 5,27S Deposits: Mernber bank - reserve account 3,560,025 259,480 1,365,480 198,807 219,426 156,479 83,1^5 610,934 123,846 69,477 132,307 116,131 224,513 Government 29,395 1,434 5,097 2,095 3,098 2,482 1,115 6,950 2,7^5 737 1,421 1,33^ 887 Foreign bank 4,623 441 612 638 589 233 215 773 202 i4i 172 172 435 Special deposits: member brink 21,216 75 1,312 4.600 3,108 1,^30 1,454 5,249 586 579 1,301 311 1,205 nonmember bank 7,210 1,033 1.601 76 519 48 3,301 22 610 Other deposits 115,279 4,914 50*236 19,867 3,960 M52 _LJ.SA 5,446 6,35.2, 1,469 14.228 Total deposits 3,737,748 266,344 1,403,826 227,60s 230,257 165,395 93,761 627,09s 144,209 76,402 141,553 119,417 241,878 Deferred availability items 422,619 44 s 213 109.73S 31,270 39,004 35,559 13,458 56,234 19,674 10,832 22,709 16,145 23,783 Capital paid in 146, 10.674 59,700 15,623 12,657 4,963 12,661 3,9^8 2,970 4,150 3,960 10,666 Sur~>lus 138.3S3 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 6o : 650 5.11R 21,265 7,310 7,073 2,904 2,636 9,874 2,5^7 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 j u m. 18,097 . 2,919, -1*268. _-SiS4z_ 14.292 1.168 1.218 826 6,21$ 1,957 TOTAL LIABILITIES 7,760,942 527,725 2,347,331 555,967 623,584 362,689 260,685 1,520,724 317,709 196,488 287,189 196,881 503,970 Ratio of total reserves to deposit and F.R.note liabilities combined 68.7 73.2 66.7 68.5 66.3 71.5 67.5 71.9 71.0 65.8 64.9 62.6 68.2 Contingent liability on bills purchased for foreign correspondents 4,669 335555 1l,,4444o0 551133 K4j7H4- 11SS88 173 622 163 ll4 138 138 351 MATURITY DISTRIBUTION OF BILLS AITD 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 43,251 30,600 4,600 3,086 ^,725 19S 42 Bills bought in open market 17,059 11,427 3,365 2,206 61 Certificates and bills 820,G4S 90,229 115,530 38,975 117,466 235,^41 223,207 Municipal warrants 562 500 9 17 36 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON APRIL 11, I93U (In thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: 101,73^ 21+7,805 Issued to F.R.bank by F.R.Agent 3,30U,S60 258.223 721,263 258,016 313.872 15M20 1^8,655 802,31+5 139,1+81 11^,9^8 l+i+,l+93 Held by Federal Reserve bank 27f, 4 OUS 16,733 97,787 16.333 1-6:708 9,^95 20,12l+ 32,335 5,5^7 5.^15 7,006 U,673 ^6,892 In actual circulation 3,025,212 2I+1,U90 623,1+76 21+1,683 297,161+ li+i+,525 128,531 770,010 133.93H 96,319 107,9^2 39,825 200,313 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from TJ. S. Treasury 3,01+2,896 260.1+92 723.706 228,000 258,1+81 15!+,3^ 102,385 75^,213 136,936 79.615 105,290 1+1,675 197,763 Eligible paper 2,665 12,548 5,1*67 2,355 1,265 1,105 1,713 559 H6S 557 i+,05i+ 1,262 U. S. Govt, securities 275,1+00 25,000 55,000 — 1+7,000 55,000 U,ooo 22,1+00 12,000 -- 55,000 Total collateral 3,352,71^ 263,157 736,651+ 253,1+67 315,336 155,605 150,1+90 810,926 11+1,1+95 102,1+83 117,31+7 1+5,729 25l+,025 FEDERAL RESERVE BAM NOTE STATEMEFT ON APRIL 11, I93I+ (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank(outstanding) 10U.030 1+,051 ^7.935 16,035 13,735 1,1+69 5,l+H+ 2,372 2,1+02 1+,113 6,1+51+ Held by Federal Reserve bank I5..69I+ : 722 3,iss 7,936 1+33 215 1+8S 555 138 838 1,176 In circulation - net* 88,336 3,329 Ui+,71+7 3,099 13,3^7 l,25l+ l+,926 1,817 2,261+ 3,275 5,273 Collateral pledged against outstanding notes: Discounted and purchased bills 9l+2 931 11 U. S. Govt, securities 139,77^ 5,000 1+9,27U 26,500 15,000 2,000 7,000 10,000 3,000 7,000 15,000 Total 11+0,716 5,000 1+9,271+ 26,500 15,931 — 2,011 -- 7,000 10,000 3,000 7,000 15,000 *Does not include $83,55!+,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