H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PHHSSS Released for publication B-801 Friday morning, hay 11; Federal Reserve Board not earlier, May 10, I93U. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the we& ended May 9f reported by the Federal Reserve banks, was $2,484,000,000, a decrease of $6,000,000 compared with the preceding week and an increase of $136,000,000 compared with the corresponding week in 1933* On 1% 9 total Reserve bank credit amounted to _$2,UsU,000,000, unchanged from last week. An increase of $108,000,000 in member bank Reserve balances was offset by decreases of $79,000,000 in Treasury ca^i and deposits with Federal Reserve banks, $23,000,000 in nonmeipber deposits and other Federal Reserve accounts and $7,000,000 in money in circulation. The System's holdings of bills disccctnted and of bills bought in open market declined $1,000,000 each, and of United States Treasury notes $6,000,000, while holdings of Treasury certificates and bills increased $6,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 9> 193^* w^re as follows: Increase or decrease since May 9 May 2 May 10 (in millions of dollars) Bills discounted 37 - 1 -3OI Bills bought 7 - l -106 U. S. Government securities 2,432 — +595 Other Reserve bank credit 9 +3 TOTAL RESERVE BANK CREDIT 2k&k — +187 f Monetary gold stock 7#756 — +3i730 Treasury and National bank currency 2,380 - 1 +77 Money in circulation 5>352 - 7 -253 Member bank reserve balances 3,678 +108 +li5#9 Treasury cash and deposits with F. R. banks 3,098 -79* +2,699 Nonmember deposits and other F.R.accounts U92 -23* - Hi •May 2 figure® revised. See on consolidated statement Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 11,193^• &ot earlier« B-gOla ASSETS AMD LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) May 9, 19ft May, 2, 19,ft May 10, 1933 A S S E TS from U. S. Treasury • . . U,585,034 4,586,500 958,860 Gold 2,425,641 — Redemption fund - F. R. notes . . . . 30,631 31.1^ 57,633 Other cash . . . . . . . . . . . .. 234,299 232.267 315.91P Total reserves 4,849,964 4,849,911 3.758.044 Redemption fund - F. R. bank notes 5,791 6,022 U.518 Bills discounted: Sec. by U.S. Government obligations 6,277 7,388 72,082 Other bills discounted . . . . . .. 30,297 30.924 266.159 Total bills discounted . . .. 36,57^ 38,312 338,241 Bills bought in open market . . .. 6,656 8,279 112,607 U. S. Government securities: Bonds « • • • . . . . . . . . . .. 407,860 407,858 421,595 Treasury notes 1,237,089 1,242,591 588,922 Certificates and bills 786.869 781,370 826.676 Total U.S.Government securities . 2,431,81s 2,431,819 1,837,193 Other securities 7^7 5,464 Total bills and securities . . . 2,475,795 2,479,157 2,293,505 Due from foreign banks . 3.13^ 3.131 3,662 F. R. notes of other banks 16,260 16,846 17,637 Uncollected items . .. 406,394 456,805 316,398 Bank premises- 52,569 52,569 54,250 Fed. Dep. Ins. Corp. stock 139,299 139,299 — All other assets 45,581 44.668 44.490 TOTAL ASSETS 8,048,408 6,492,504 L I A B I L I T I ES F. R. notes In actual circulation . . 3.059.927 3.058.777 3,3^9,753 F. R. bank note cltt&Lation - net 66,252 70,208 62,835 Deposits: Member bank - reserve account . . . 33,,667777..886633 3.570,283 2,089,115 U.S.Treasurer - General account* 60,115 142,776 42,467 Foreign bank 6,915 6,585 23,021 Other deposits . . • . . . . • • •• 249,983 273.765 154.938 Total deposits 3.99M76 3.993.^09 2,309,5^1 Deferred availability items 401,661 454,807 316,3^6 CapitalT)aid in . . 146,279 146,300 150,229 Surplus . . . .. . . . • « . . « •* 138,383 138.383 278,599 Reserves (F.D.I C. stock, self in- # 161,831 161,831 12,205 All other liabilities . . . . . . .. 25.578 24.693 12.996 TOTAL LIABILITIES . . . . .. 7,99^,787 8,048,408 6,492,504 Ratio of total reserves to deposit and F. R. note liabilities combined . . 68.7$ 68.8$ 6666..44$$ Contingent liability on bills purchased for foreign correspondents . . . .. 4,002 44,,226611 4411,,334400 ^Caption changed from "Government" to "U. S. Treasurer - Genera! account" and $100,000,000 included in Government deposits on May 2 transferred to "Other deposits," Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES 01 THE FEDERAL RESERVE BAMS Oil MAY 9, 193* A S S E TS (In thousands of dollars) B-801b Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Frai Gold certificates on hand and due from U. S. Treasury 4,585.034 385.357 1,502,410 263,831 353.111 210,973 126,802 934,687 188,621 97,879 1*9,579 91,294 280,460 Redemption fund - F.R. notes 30,631 2,517 1,966 3,051 3,073 797 3.27* 6,841 1,125 1.3*3 1,162 627 4,855 Other cash 234,299 16,815 63,004 35.373 12,439 ,9,074 11,605 _ 35.164 9,388 11,254 10,05* 6,559 13,570 Total reserves 4,849,964 404,689 1,567,410 302,255 368,623 220,844 141,681 976.692 199,13* 110,476 160,795 98,480 298,885 Redemption fund - F.R. "bank notes 5,791 250 2,096 85s i,a5 — 13* — — 474 764 Bills discounted: Sec. by U.S.Govt, obligations 6,277 278 3,544 1,229 505 131 228 16 156 10 18 162 Other bills discounted 30,297 748 12,366 10,970 1,431 1,127 623 1,150 63 487 226633 277 792 Total bills discounted 36.57* 1,026 15.910 12,199 1,936 1,258 851 1,166 219 497 263 295 95* Bills bought in open market 6,656 456 2.275 663333 557788 243 224 798 173 106 170 451 552 U.S.Government securities: Bonds 407,860 22,989 148,619 25,603 30,247 1*,709 12,542 66,780 13.663 15.762 1*.799 18,729 23,618 Treasury notes 1,237,089 82,218 394,084 86,788 111,570 5*.238 45.152 216,766 48,551 jp.*05 48,006 32,196 87,115 Certificates and bills 786,869 52.473 239,052 54,729 71,208 34,616 28,817 148,797 30,986 19. *o* 30,639 20,550 55.598 Total U.S.Govt, securities 2,431,818 157,680 781,755 167.120 a3,025 103,563 86,311 432,343 93.200 65.571 93.*** 71,475 166,331 Other securities 7*7 — 40 -507 — —«« 200 — — Total bills and securities 2,475,795 159,162 799,980 180,456 215,539 105,064 87.586 *3*,307 93,592 66,17* "93.877 72,221 167,837 Due from foreign banks 3,13* 237 1,197 342 301 119 109 4l4 10 7 88 88 222 F.R.notes of other banks 16,260 312 4,725 486 864 1,487 998 3,044 864 369 1,028 248 1.835 Uncollected items 406,394 44,288 101,315 30,735 38.100 35.053 13.021 56,044 18,276 11,2*9 22,396 13,957 21,960 Bank premises 52,569 3.224 11,434 4,133 6,788 3.128 2,372 7,382 3.121 1.657 3,485 1.755 4,090 Fed. Dep. Ins. Corp. stock 139,299 10,230 *2.529 14,621 14,147 5,808 5.272 19,7*9 5,093 3.510 4,131 *.359 9.850 All other assets 45,581 877 29.261 4,618 1,456 1.979 2,600 1,057 328 1.199 502 1,036 668 TOTAL ASSETS 7.994,787 623,269 2,559.9*7 538,504 647,033 373,482 253,639 1,498,689 320,552 194,641 286,302 192,618 506,111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS JOT) LIABILITIES OF THE FEDERAL RESERVE BANKS OH MAY 9. 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 3,059,927 244,475 633,817 246,060 307,369 142,542 132,043 777.663 134,962 96,405 106,767 39.396 201,428 F.R.barik note circulation - net 6£,252 1,658 41,079 6,621 12,600 — -- -- 1,188 — — 2,843 263 De-oosits: Ifa^er bark - reserve account 3,677.^63 292,325 1,457,308 192,464 228,785 l66,66l 78,406 584,458 130,637 66,820 139,122 114,712 226,165 U.S. Treasurer - General account $0,115 3,080 22,220 2,870 5.3*6 1,743 1,632 11,869 2.441 122 929 1,709 6,184 T?orei™ bank 6,915 448 2,842 648 598 237 218 785 206 143 174 174 442 other "depo sits 249,083 4,401 139.272 l4,l49 11,218 10,731 11.2S 9.655 17.275 9.119 4,605 1,570 16,760 Total deposits 3,994,876 300,254 l,62L ,642 210,131 245,917 179.372 91.484 606,767150,559 76.204144,330118,165249,551 Deferred availability items 401,6bl 44,562 99.437 29.023 37,268 34,30b 12,356 54,947 18,6a a,965 22,687 10,79^ 15.695 Capital "paid in 146,279 10,693 59.71S 15,520 12,643 4,968 4,372 12,537 4,031 3,008 10,685 4 , 1 57 3.947 Surplus 138,383 9,610 45,217 13,352 14,090 5,171 5,145 20,681 4,756 3.42) 3.613 3.683 9,645 Reserves (F.D.I.C. stock, self insurance, etc.) 161,831 11,283 47,266 17,121 16,447 6,963 7,851 22,718 5,946 11,465 4.535 4 , 7 47 5.489 All other liabilities 25,578 734 14,771 676 699 l60 38S 3,376 489 275 223 3,400 387 TOTAL LIABILITIES 7.994,7^7 623,269 2,559.947 53s,504 647,033 373,482 253,639 1,498,689 320,552 194,641 286,302 192,618 506,111 Ratio of total reserves to deposit and F.P.note liabilities combiiaed 68.7 74.3 69.6 66.3 66.6 68.6 63.4 7O.5 69.7 64.0 63.9 62.5 66.3 Contingent 'liability on bills purchased for foreign correspondents 4,002 309 1,192 447 413 163 151 541. 142 99 120 120 305 MATURITY DISTRIBUTION OF BILLS AI© SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Eills discounted 36,574 2,813 2,460 244 2 4 , 9 50 5.777 330 Bills bought irr open market 6,656 2,218 191 3,810 437 Certificates and bills 786,S69 43.947959 130,466 17.725 367,524 227,179 Municipal warrants 547 5 -35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 9, 193^ (In thousands of dollars) B-S01d Total Boston New 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,^5,138 264,679 72s,393 262,007 320,871 151.827 151,11s 818,825 140,255 101,076 114,007 44,l48 247,932 41,162 5.293 M71 7.240 4,752 46,504 Held by Federal Reserve tank 285.211 20,204 97,576 15.9^7 13.502 9,285 19.075 In actual circulation 3,059,927 244,475 630,817 246,060 307,369 I42,542 132,043 777,663 13^,962 96,405 106,767 35,396 201,428 Collateral held by a^ent as security for notes issued to "bank: Gold certificates on hand and 44,675 193,763 due from U. S. Treasury 3,013,771 266,117 733.706 214,000 261,931 152,3^0 9^,335 747,513 132,936 75.115 97.290 Eligible paper 18,875 1.020 9,494 3,517 1,223 731 658 314 261 146 177 6o4 730 U. S. Govt, securities 349,300 45,000 60,000 — 57.000 75,000 8,000 26,300 20,000 — 58,000 Total collateral 3,381,946 267,137 7^3.200 262,517 323,15^ 153.071 152,043 822,827 1^1,197 101,561 117,^67 45,279 252,493 FEDERAL RESERVE BAFK NOTE STATEMENT ON MAT 9, 1934 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran Federal Reserve bank notes: 3,540 2,454 Issued to F.R.bank(outstanding) 81,939 2,411 43,030 16,035 12,935 1,53^ Held by Federal Reserve bank 15,687 753 1,951 9 M* 335 346 697 2,191 In circulation - net* 66,252 1,658 41,079 6,621 12,600 -- 1,188 2,843 263 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 $93,360,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful Digitized for FRASER money with the Treasurer of the United States. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis