H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TFE PRESS Released for publication B-801 Friday morning, May 25; Federal Reserve Board not earlier May 2U, 193U CONDITION OF FEDERAL RESERVE 3ANXS The daily average volume of Federal Reserve bank credit outstanding during the week ended May 23, as .reported by the Federal Reserve banks, was $2,U75»0OO,000 a decrease of $7,000,000 compared with the preceding week and an f increase of $232,000,000 compared with the corresponding week in 1933 • On May 23 total Reserve bank credit amounted to $2,1+69,000,000, a decrease of $^,000,000 for the week. This decrease corresponds with decreases of $28,000,000 in money in circulation, $30,000,000 in Treasury cash and deposits with Federal Reserve banks and $10,000,000 in nonmeniber deposits and other Federal Reserve accounts, and an increase of $13,000,000 in monetary gold stock, offset in part by an increase of $73»000,000 in member bank reserve balances and a decrease of $5,000,000 in Treasury and National bank currency. f The Systems holdings of bills discounted and of United States bonds were practically unchanged from last week. Holdings of bills bought in open market declined $1,000,000 and of United States Treasury notes $17,000,000, while holdings of Treasury certificates and bills increased $17000,000. t Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 23, I93U, were as follows: Increase or decrease since May 23, May l6, May Zk, - I 2 2L 19ft 1933 (in millions of dollars) Bills discounted 34 — -278 Bills bought 5 _ 1 _ jg U. S Government securities 2,^30 +568 Other# Reserve bank credit _ _ TOTAL RESERVE BANK. CREDIT 2,U69 - U +350 Monetary gold stock 7,766 +3,739 Treasury and national bask currency 2,375 ~ 5 + 76 Money in circulation 5»3l6 -28 -192 Member bank reserve balances 3»7&7 +73 +1*573 Treasury cash and deposits with F.R. banks 3,052 ~30 -*2'723 Nonmember deposits and other F.R. accounts U75 -10 - 39 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 25,193!+; not earlier. B-SOla ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) May 16,19ft May 2^ lyft A S S E TS t Gold certificates on hand and due from U. S. Treasury . . ^633,58^ 4,583,812 959.532 Gold , 2,493,364 Redemption fund - F. R notes . . . . .. 29,923 30,165 46,338 Other cash . . . . . f 218.1^2 236.520 308.766 Total reserves ^,901,61+9 4,850,497 3,807,940 Redemption fund - F. R. "bank notes . . . 5»3ft 5,275 6,242 Bills discounted: Sec. by U.S. Government obligations . . 6Hl3 6,312 64,472 Other bills discounted 27. t 838 28,090 247,693 1 Total bills discounted . . . .. 3+,251 34,402 312,165 Bills boiaght in open market . . . . . .. 5>263 5,501 42,662 U*S.Government securities: Bonds 406,208 406,190 430,606 Treasury notes . . . .. 1,217,000 1,233,599 629,583 Certificates and bills . . . . . .. • 806.992 790.367 801.523 Total U.S.Government securities 2,^30,200 2,430,156 1,861,712 Other securities .. • • . . * • • .• [M 5,386 Total bills and securities . . . 2,470,260 2,470,605 2,221,925 Due from foreign banks 3,13^ 3,135 3,593 F.R. notes of other banks 16,995 20,430 17,921 Uncollected items . 423,048 501,044 316,172 Bank premises . 52,597 52,595 54,255 Fe;d. Dep. Ins. Corp. stock . . . .. . . 139,299 139,299 All other assets 47.926 46.131 47.146 TOTAL ASSETS 8,060,262 8,089,011 6,475,194 L I A B I L I T I ES g 2 F.R. notes in actual circulation . . .. 3»°3»97 3,061,279 3,221,429 F.R. bank note circulation - net . . .. 61,439 63,752 84,211 Deposits: Member bank - reserve account . . . .. 3,767,269 3,694,493 2,194,390 U.S.Treasurer - General account ..... 51,3^3 45,074 37,668 Foreign bank 5«°1° 4,649 15,867 Other deposits 236.809 246.981 144.892 Total deposits 4,06l,.031 3,991,197 2,392,817 Deferred availability items 427,374 501,685 322,322 Capital paid in 146,470 146.202 150,287 Surplus 138,3^3 138,383 278,599 Reserves (F.D.I.C. stock, self insurance, etc.) 161,232 161,832 12,179 All other liabilities 25,436 24,6§1 13.350 TOTAL LIABILITIES 8,060,262 8,089,011 6,475,194 Ratio of total reserves to deposit and F.R. note liabilities combined . . .. 69.0$ 68.8$ 67.8$ Contingent liability on bills purchased for foreign correspondents . . . . .. 3,268 3,622 36,770 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BANKS OH MA.Y 23, 1934 A S S E TS (In thousands of dollars) B-SOIb Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kaas.Cy. Dallas San Fran, Gold certificates on hand and due from U.S. Treasury 4,633,584 392,815 1,565,700 277,031 334,735 196,341 110,449 958,473 182,241 96,038 141,333 91,362 287,066 Redemption fund - F.R. notes 29.923 2,466 1,736 2,946 2,982 964 3,205 6,649 1,075 1.317 1,139 610 4,834 Other cash 238,142 17,994 63,531 35,159 12,706 9,889 12,489 33.916 10,448 11,390 10,485 6,512 13,623 Total reserves 4,901,649 413,275 1,630,967 315,136 350,423 207,194 126,143 999,038 193,764 108,745 152,957 98,484 305,523 Redemption fund - F.R. bank notes 5,354 250 2,423 858 1,215 i.— 13* 474 — — — 3ills discounted: Sec. "by U.S.Govt, obligations 6,^3 488 3,770 1,429 156 139 120 — 79 20 — 33 179 Other bills discounted 27,838 565 12,469 9,388 1,266 1,095 500 1,133 26 442 211 324 419 Total bills discounted 3^,251 1,053 16,239 10,817 1,422 1,234 620 1,133 105 462 211 357 598 Bills bought in open market 5,263 371 1,886 535 487 193 177 649 121 85 142 142 475 U.S.Government securities: Bonds 406,208 22,990 148,403 25,602 30,248 1^,707 12,693 66,568 13,664 15,787 13,197 18,730 23,619 Treasury notes 1,217,000 80,798 387,3^8 85,30s 109,643 53,302 45,916 212,652 47,713 29,892 47,177 3l,64o 85,611 Certificates and bills 806,992 53,892 244,504 56,210 73,133 35,553 30,649 151,623 31,823 19,929 31,470 21,105 57,101 Total U.S.Govt, securities 2,430,200 157,680 720,255 167,120 213,024 103,562 89,258 430,843 93i200 65,608 91,844 71,^75 166,331 Other securities 546 40 506 — — — Total bills and securities 2,470,260 159,104 798,420 178,978 214,933 104,989 90,055 432,625 93.426 66,155 92,197 71,97^ 167,404 Dae from foreign banks 3,134 237 1,196 342 301 119 110 4l4 10 7 88 88 222 P.R.notes of other banks 16,995 5,072 597 982 1,433 1,022 3,650 1,002 430 1,171 326 923 ,, 387 Uncollected items 423,048 44,022 102,262 35,835 42,993 37,315 13,289 59,695 18,244 10,289 24,091 16,054 is,959 Bank premises 52,597 3,224 ll,44l 4,149 6,783 3,128 2,372 7,382 3,124 1,657 3,^85 1,757 4,090 Fed. Dep. Ins. Corp. stock 139,299 10,230 42,529 14,621 14,147 5,808 5,272 19,749 5,093 3,510 4,131 >•4,359 9,850 All other assets 47,926 853 30,708 5,778 1,450 1,899 2,559 1,038 298 1,177 471 1,05s 637 TOTAL ASSETS 8,060,262 631,582 2,625,018 556,294 633,232 361,885 240,822 1,523,591 315,095 191,970 278,591 194,574 507,608 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH MAT 23, 1934 L I A B I L I T I ES (In thousands of dollars) B-gOlc Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3.038,297 242,7b7 629,001 21+5,980 30U,o38 1Uo,115 130,969 773.422 133.210 95,251 106,410 38,629 197,905 2,63b — F.E.bank note circulation - net 61,439 1.137 39.0HU 6,030 12,370 — — — 222 Deposits: Member tank - reserve account 3.767.269 303.732 1.537-soi 203,631 214,894 157.581 69,802 605,258 126,929 65,833 131.809 115.657 234,342 U.S .Treasursr-Jeneral account 51,3U3 1,821 18,423 991 2,121 2,339 1,264 12,842 4,835 1,343 1,408 1,480 2,476 Foreign bank 5,610 1+1+8 1,537 61+8 59s 237 218 785 206 143 174 174 442 Other deposits 236,809 4,312 130.U52 17,892 11,801 7.670 8,289 9.25? 15.26t> 7,b38 2,617 2,03b 19,584 Total de-posits 4,061,031 310,313 1,688,213 223,162 229,Hl4 167,827 79.573 628,137 147,23b 711,057 136,008 119..347 256,844 Deferred availability items 427,374 44,913 101,223 34,403 42,698 36,652 12,508 63,601 19.276 10,396 23,457 17,615 20,632 Capital paid in 146,470 10,739 59.653 15.517 12,821 4,976 4,371 12,532 4,028 3.015 4,163 3,952 10,703 Surplus 138,383 9,bio 45,217 13,352 14,090 5.171 5.145 20,681 4,756 3.420 3.613 3.683 9.645 Reserves (F.D.I.C. stock, self in surance, etc.) 161,832 11,283 47,266 17,121 16,447 6,963 7.852 22,718 5.946 4.535 4,747 5.489 11,465 All other liabilities 25,436 820 15,401 729 754 181 4o4 2,500 421 396 153 3.223 4i4 TOTAL LIABILITIES 8,060,262 631,582 2,625,018 556,294 633,232 361,885 240,822 1,523,591 315.095 191.970 278,591 194,574 507,608 Ratio of total reserves to deposit and F.R.note liabilities combined 69.0 74.7 70.4 67.2 65.6 67.3 59.9 71.3 69.I 63.9 63.1 62.3 67.2 Contingent liability on bills purchased for foreign correspondents 3.2b8 309 458 447 413 163 151 541 142 99 120 120 305 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 34,251 24,480 5,334 2,007 2,132 285 13 Bills bought in open market. 5,263 237 464 4,247 Certificates and bills 806,992 94,736 65,330 56,962 362,781 227,183 Municipal warrants 546 506 5 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 23, 193^ (In thousands of dollars) B-801d 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 3,332,511 265,067 726,l4S 255,1+72 320,170 149,642 149,966 812,754 138,242 100,422 114,374 43,809 246,445 Held by Federal Reserve tank 294,214 22,300 97,147 19,*+92 15.532 9,527 18,997 39.3325,032 5,171 7,964 5,180 48,540 In actual circulation 3,038,297 21+2,767 629,001 245,980 30^,638 11+0,115 130,969 773.^22 153,210 95,251 106,1+10 38,629 197,905 Collateral held by agent as security for notes issued to-.bank: Gold certificates on hand and due from U.S. Treasury 3,014,771 271,117 733,706 227,000 261,931 140,340 90,3S5 7^7,513 123.936 78,115 97,290 44,675 193,763 Eligible paper 17,009 962 9,477 3,436 672 623 419 198 105 126 112 357 522 U. S. Govt, securities 352,300 — — 37,000 60,000 10,000 61,000 75,ooo 11,000 23,300 20,000 55,ooo Total collateral 3,384,080 272,079 743,183 267,436 322,603 150,963 151,so4 822,711 l40,04l 101,541 117,402 45,032 249,285 FEDERAL RESERVE BAKU NOTE STATEMENT ON MA.Y 23, 1934 (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) 7b,861 1,511 >+2,357 16,035 12,935 534 — '3,^89 — 312 -- Held by Federal Reserve bank 15,422 37H 3,313 10,005 565 - 853 - In circulation - net* bl,439 1,137 39,044 6,030 12,370 222 2,63b Collateral pledged against outstanding notes: Discounted and purchased bills U. S. Govt, securities 85,774 5,000 44,274 16,500 15,000 1,000 4,000 Total 85,774 5,000 44,274 16,500 15,000 1,000 4,000 *Dces not include $93,277,000 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