H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMEFT FOR THE PRESS Released for publication B-SOl Friday morning, May U; Federal Reserve Board, not earlier* May 3» 193^* COFDITIOI? Of FEDERAL RSS^BYE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended May 2, as reported by the Federal Reserve banks, was $2,490,000,000, a decrease of $lH,000,000 compared with the preceding week, and an increase of $5^,000,000 compared with the corresponding week in 1933• On May 2 total Reserve bank credit amounted to $2,UsU,OOO OOO a decrease of t f $2,000,000 for the week. A decrease of $17^,000,000 in member bank reserve balances was offset by increases of $129,000,000 in Treasury cash and deposits with Federal Reserve banks, $35,000,000 in money in circulation and $11,000,000 in nonmember deposits and other Federal Reserve accounts® The System's holdings of bills discounted and of bills bought in open market declined $2,000,000 each, and of Treasury certificates and bills $22,000,000, while holdings of .United States bonds increased $2,000,000 and of United States Treasury notes $22,000,000* Changes in the amount of Reserve bank crcdit outstanding and in related items during the week and the year ended May 2, 193^» were as follows: Increase or decrease since May 2 April 25 May 3 (In millions of dollars) Bills discounted 38 -2 -362 Bills bought S -2 -136 U, S. Government securities 2M2 +2 +595 Other Reserve bank credit 6 +1 - 9 TOTAL RESERVE BANK CREDIT 2,5+gU -2 +SS Monetary gold stock 7,756 +1 +3,731 Treasury and national ban!: currency 2,381 +1 +76 Money in circulation 5,359 +35 -308 Member bank reserve balances 3,570 -17U* +1,536 Treasury cash and deposits with F.R.bciriks 3,277 +129 +2,790 Nonmember deposits and other P.S.accounts U15 +11* -123 *JSpril 25 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May U,193U; not earlier. B~S01a ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) May 2,19 Apr. 25,1934 May 3, 19; A S S E TS Gold certificates on hand and due from U. S. Treasury 4,586,500 4,490,358 95M55 Gold . . — 2,418,515 Redemption fund - F. R. notes . . 31 .lift 31,498 62,500 • Other ca&h . • 232,267 241,262 312,315 Total reserves • . . . 4,849,911 4,763,118 3,747,885 • Redemption fund F, R, "bank notes 6,022 7,768 3,618 • Bills discounted: Sec. by U.S.Government obligations 7,33s 7,903 9977,,997766 Other "bills discounted . . . .. 30,924 32,410 302,126 • Total bills discounted . . .. 38,312 40,313 400,102 Bills bought in open market . . . 8,279 10,163 144,152 U.S.Government securities: Bonds . . . . . .. 407,858 406,204 421,576 Treasury notes 1,21+2,591 1,221,099 588,972 • Certificates and bills . . . .. 781,370 802,870 826,730 • Tfrtal U.S.Government securities 2,431,819 2,430,173 1,83J,278 Other securities . . • • • • • •• 7^7 548 5,641 Total bills and securities . . . 2,479,157 2,481,197 2,387,173 • Due from foreign banks . . . . .. 3,131 3,131 3,656 • F. R. notes of other banks . . .. •16,846 17,317 19,471 Uncollected items . . . . . . .. 456,805 428,684 337,157 Bank premises . . . . 52,569 52,558 54,250 • Fed. Dep. Ins. Corp. stock . . . . • 139,299 139,299 — All other assets • 44,657 43,078 44,673 • TOTAL ASSETS 8,048,397 7,936,150 6,597,883 - L I A B I L I T I ES F. R. notes in actual circulation 3,058,777 3,030,216 3,395,369 • F. R. bank note circulation - net 70,197 77,767 56,059 • Deposits: Member bank - reserve account . 3,570,283 ••33,,774433,,559977 2,033,939 • 242,776 17,644 l44,4o6 Foreign bank . . . . . . . . .. 6,585 5,347 27,272 Other deposits . . . . . . . .. • 173,765 •161,916 154,484 Total deposits . . . . . • 3,993,409 3,928,504 2,360,101 Deferred availability items . . . 454,807 427,495 331.621 • Capital paid in 146,300 146,449 150,187 Surplus . 138,323 138,383 278,599 Reserves (F.D.I.C. stock, self insurance, etc.) . 116611,,883311 161,829 12,205 • All other liabilities . . . . .. 24,693 25,507 13,742 TOTAL LIABILITIES 8,048,397 7,936,150 6,597,883 • Ratio of total reserves to deposit and F. R. note liabilities combined 6688..88$$ 68.4$ 65.1$ • Contingent liability on bills -purchased for foreign correspondents . .. 44,,226611 4,669 42,189 • •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OUT MAY 2, 193^ A S S E TS (In thousands of dollars) B-SOTb Total Boston New York Phila. CI eve. Hich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury l+,586,500 3S5.157 1,503,219 259,^31 350,137 22U.U51 119,680 91+7,205 175,969 102,109 11+9,685 86,323 283,13^ Redemption fund - F.R. notes 31.1W 2,51+5 2,071 3,089 3,102 1,012 3,290 6,897 1,131+ 1,3^9 1,166 629 4,860 Other cash 232,267 15,819 63.60I+ 35,013 13,831 8,812 11,619 33,579 8,993 10,875 10,5*+l 6,738 12,81+3 Total reserves 1^,8^9,911 ^3,521 l,568,89^ 297,533 367,070 23^,275 13^,589 987,681 186,096 il!+,333 161,392 93,690 300,837 Redemption fund - F.R.harik notes 6,022 250 2,327 858 1,215 — — — •131+ — — I+7I+ 761+ Bills discounted: Sec. by U S.Govt. obligations 7,388 316 l+,20l+ 1,15-15 380 203 287 17 361 10 5 8 182 Other bil # ls discounted 30,921+ 680 12,5^4 11,255 1,500 1.178 700 1,203 7*+ >+77 2&+ 239 ^ Total bills discounted 38,312 996 17,11+8 12,670 1,880 1,381 987 1,225 1+35 1+87 269 21+7 587 Bills bought in open market 8,279 537 2,285 701 753 29U 273 938 2I+5 212 268 1,018 755 U.S.Government securities: Bonds 1+07,858 22,989 1^9>331 25,603 30,21+7 13>287 12,309 67,1+90 13,663 15,792 l*+,798 18,730 23,619 Treasury notes 1,21+2,591 82,607 398.3t+7 87,193 112,096 1+9,233 1+5,364- 220,312 1+8,780 30,550 1+8,235 32,3^9 87,525 : Certificates and bills 781,370 52.031+ 239-077 514,321+ 70,682 31 0U3 28,607 11+9,5U1 30,757 19,261 30.1+11 20,396 55,187 Total U.S.Govt. securities 2,1+31,819 137,680 786J55 167,120 213..025 93,563 86,280 1+37,3^3 93,200 65,603 93^1+1+ 71,1+75 166,331 Other securities 7*+7 — 1+0 507 - 200 — — — — — — Total bills and securities 2,1+79,157 159,213 806,228 180,998 215,658 95.238 87,7^0 1+39,506 93,880 66,302 93,981 72,7^+0 167,673 Dae from foreign banks 3,131 237 1,191+ 31+2 300 119 110 1+1I+ 10 7 88 So 222 F.R.notes of other banks 16,81+6 Ul9 5,3^8 335 1,037 1,1^7 1,036 3,316 837 596 729 325 1,671 Uncollected items 1156,805 1+8,206 lll+,2l+9 35,06'4 1+5,188 ^0,935 15,961+ 60,1+76 20,326 11,157 26,718 15,026 23,1+36 Bank premises 52,569 3>22l+ 11,1+31+ 1+ 5 133 6,788 3,128 2,372 7,382 3.121 1,657 3,^5 1,755 i+,090 Fed. Dep. Ins. Corp. stock 139,299 10,230 1+2,529 lU, 621 ii+, 1I+7 5, SOS 5,272 19-.7-+9 5,093 3,510 M31 J+,359 9,850 All other assets i+i+,657 889 28,309 l+,6>2 1,1+59 1,990 2,619 1,026 330 1,195 506 1,023 679 TOTAL ASSETS SrOUs,397 626,129 2,530,512 533,566 652,262 3S2,6Uo 2^9,702 1,519,550 309,SS7 198,757 291,030 lS9,Ugo 509,222 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AFD LIABILITIES OP THE FEDERAL RESERVE BAMSS OW MAT 2, 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 3,058^777 244,l6l 633,514 245,153 303,323 142,951 131,024 776,426 135,ISO 96,343 107,232 39,331 199,034 F.R.banlt note circulation - net 70,197 2,135 ^L.737 5,907 12,704 — — — 2,36l — — 2,916 1,437 Deposits: Member bank - reserve account 3,570,233 284,015 1,420,459 132,673 232,247 165,573 69,333 571,111 111,636 67,273 134,118 103,309 222,976 Government 242,776 10,232 152,503 6,347 5,409 2,345 5,1^9 32,907 7,S6l 4,157 4,896 3,233 7,132 Foreign bank 6,535 443 2,512 643 593 237 213 7S5 206 1^3 I7H I7U 442 Other deposits 173,765 3,333 45,623 Total deposits >,993,409 293,633 1,621,107 206,225 21+9,1190 132,636 35,453 621,334 137,015 79,706 144,714 113,634 252,907 Deferred availability items 1+54,307 48,913 112,563 33,567 43,541 39,759 15,436 62,330 19,323 11,453 26,171 16,951 23,690 Capital paid in 146,300 10,701 59,712 15,610 12,627 4,956 4,372 12,531 4,025 3,006 4,163 3,950 10,647 Surplus 138,333 9,610 ^5,217 13,352 14,090 5,171 5,145 20,631 4,756 3,420 3,613 3,633 9,645 Reserves (F.D.I.C. stock, self insurance, etc.) 161,831 11,233 47,266 17,121 16,447 6,963 7,351 22,718 5,9^6 4,535 4,747 5,489 11,465 All other liabilities 24,693 74s 14,396 631 635 154 366 '2,430 776 294 340 3,526 347 total liabilities 3,o4s,397 626,139 2,530,512 533,566 652,362 332,61+0 249,702 1,519,550 309,337 193,757 291,030 189,480 509,222 Ratio of total reserves to deposit and F.R.note liabilities combined 63.3 74.3 69.4 65.9 66.4 71.9 62.2 J0.6 68.4 64.9 64.0 6l.2 66.6 Contingent liability on bills purchased for foreign correspondents 4,26l 309 1,451 447 413 163 150 542 142 99 120 120 305 MATURITY DISTRIBUTION* OF BILLS AFD SHORT TEEM 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 32,312 28,004 3,177 5,930 973 193 30 Bills bought in open market 3,279 3,238 910 272 3,859 Certificates and bills 731,370 62, 4 1 9 80 9 21,325 117,621 21,070 329,997 229,177 Municipal warrants 547 3 5 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OB MAY 2, 1934 (In thousands of dollars) B-SOld Total Boston Few 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 3,323,359 261,375 725,7^5 260,050 31S,252 151,H63 1^7,^91 813,680 139,773 101,211 113,641 44,188 246,490 Held by Federal Reserve bank: 264,582 17,214 87,231 14,897 14,924 8,512 lo,4$7 37,254 4,593 M 68 6,359 M 57 ^7,^6 In actual circulation 3,058,777 244,161 638,514 245,153 303,328 142,951 131,024 776,426 135,180 96,3^3 107,282 39,331 199,084 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 2,983,271 266,117 723,706 207,000 261,931 152,340 92,385 742,513 126,936 79,615 97,290 44,675 188,763 Eligible paper 22,151 1,071 10,866 3,897 1,311 884 644 501 545 248 279 1,123 782 U. S. Govt, securities 355,^00 -- 50,000 60,000 — 57,000 75,000 13,000 22,400 20,000 — 58,000 Total collateral 3,360,822 267,138 73^,572 260,897 323,242 153,224 150,029 818,014 i4o,48l 102,263 117,569 45,798 247,545 FEDERAL RESERVE BAtTK FOTE STATEMENT OH MAY 2, 193H (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.bank(outstanding) 85,190 3,111 43,261 16,035 13,255 - 2,531+ 3,540 Held by Federal Reserve bank 14,993 976 1,524 9,J2S 551 __ 173 624 2,017 In circulation - net* 70,197 2,135 737 6,907 12,704 — 2,361 2,916 1,^37 Collateral pledged against outstanding notes: Discounted and purchased bills 9 9 U. S. Govt, securities 107,77^ 5,000 44,274 16,500 15,000 ~ 5,000 7,000 15,000 Total 107,783 5,000 44,274 16,500 15,000 — — — 5,009 — -- 7,000 15,000 •Does not include $92,227,000 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