H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB. TEE PRESS Released for publication B-S01 Friday morning, June 1; Federal Reserve Board not earlier May 31, 193^ CONDITION OP FEDERAL RESERVE BAKES The daily average volume of Federal Reserve bank credit outstanding during the week ended May 30, as reported by the Federal Reserve banks, was $2,I+71+,000,00Q a decrease of $1,000,000 comoared with the preceding week and an increase of $266,000 ,000 compared with the corresponding week in 1933• On May 30 total Reserve bank credit amounted to $2,^70,000,000, an increase of $1,000,000 for the week* An increase of $22,000,000 in money in circulation and a decrease of $l+ 000>000 in Treasury and National bank currency were practir cally offset by an increase of $10,000,000 in monetary gold stock and decreases of $^,000,000 in member bank reserve balances and $10,000,000 in nonmember deposits and other Federal Reserve accomits. The System's holdings of all classes of bills and securities were practically unchanged from last week. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended May 3193^*» were as follows? Increase or decrease since May 30, May 23, May 31, 19^ 19ft 19^ (in millions of dollars) Bills discounted - 26s Bills bought 5 U # S # Government securities 2.^30 + " 5 T U 1 O 5 Other Reserve bank credit 1 + 2 - 6 total reserve bank credit 2,1+70 + 1 + 252 Monetary gold stock 7.77S +10 ++3 ,773^ Treasury and. National bank currency 2,371 - 1+ Money in circulation 5,33S +22 Member "bank reserve balances 3.763 - U Treasury cash and deposits with F.R.banks 3,p51 - 1 +2,706 Nonmember deposits and other P.R. accounts Ub5 -10 - *+3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 1, 1934, earlier. B-SOla ASSETS AND LIABILITIES OP TEE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) A S S E TS M-y 30. 1934 May 23.1934 May 31.1933 Gold certificates on hand and due from U. S. Treasury 4,648,031 4,633,584 9^0,143 Gold — — 2,515,402 Redemption f\md - F. R. notes 29,771* 29,923 44,353 Other cash 223,880 238,142 286,770 Total reserves 4,901,685 4,901,649 3,806,668 Redemption fund - F. R. bank notes . . 4,720 5,35!+ 6,242 3ills discounted: Sec. by U.S. Government obligations . 9,038 6,1+13 66,014 Other bills discounted 24,662 27,838 235,960 Total bills discounted 33.700 34,251 301,97U Bills bought in open market 5.178 5,263 19,862 U. S. Government securities: Bonds 406,194 406,208 441,071 Treasury notes 1,216,1+90 1,217,000 656,593 Certificates and bills 807,470 806,992 J§l,9l4 Total U.S.Government securities , 2,430,154 2,1+30,200 1,889,578 Other securities 535 546 4,823 Total bills and securities . . 2,1+69,567 2,1+70,260 2,216,237 Dae from foreign banks 3.125 3.134 3,815 F. R. notes of other banks 15.382 16,995 15,14-3 Uncollected items 397,257 423,048 316,047 3ank premises 52,602 52,597 54,255 Fed. Dep. Ins. Corp. stock 139,299 139,299 All other assets 48,577 47,926 48,020 TOTAL ASSETS 8,032,214 8,060,262 6,466,427 L I A B I L I T I ES F.R. notes in actual circulation . . . 3,C51,6o4 3,038,297 3,203,102 F.R. bank note circulation - net . . . 60,422 §1,439 96,280 Deposits: Member bank - reserve account . . .. 3.762,920 3,767,269 2,166,721 U.S.Treasurer - General account ... 51,°36 51.343 72,328 Foreign bank 5,592 5,610 J,8k8 Other deposits 227,598 236,809 146,876 Total deposits 4,047,746 4,061*031 2,393,773 Deferred availability items 399,332 427,374 318,082 Capital paid in 146,271 146,470 150^271 Surplus 138,383 138,383 278,599 Reserves (F.D.I.C. stock, self insurance, etc.) 161,832 161,832 12,179 All other liabilities 26,124 25,436 l4,l4l TOTAL LIABILITIES 8,032,214 8,060,262 6,466,427 Ratio of total reserves to deposit and F.R. note liabilities combined 69.0$ 69.0$ 68.0$ Contingent liability on bills purchased for foreign correspondents . . . .. 2,730 3,268 35,731 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMKS ON MA.Y 30, I93U 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 TJ. S. Treasury 4,648,031 374,883 1.520,596 281,748 365.179 193,262 115,721 965,037 166,408 96,939 142,216 37.597 278,445 Redenption fund - P. R. notes 29,774 2,319 1,436 2,866 3.377 91*7 3,662 6,536 1,059 1,304 1,075 578 4,615 8,671 12,630 31,703 10,015 n,575 10,521 6,272 12,632 Other cash 15.773 57.455 34,075 12.55S Total reserves 4,901,685 392,975 1,639,437 313,689 381,114 202,880 132,013 1,003,276 177,432 109,818 153.S12 94,447 295,692 Redemption fund - F.R. "bank notes; 4,720 250 2,289 858 715 — — — 134 — — 474 Bills discounted: Sec. by U.S.Govt. obligations 9.038 433 6,223 i,64i l44 134 105 12 94 20 33 199 Other bills discounted 24,662 530 11,324 7,77s 1,265 754 500 1,107 36 433 210 332 393 Total bills discounted 33.700 963 17,547 9,419 1.409 sss 605 1,119 130 453 210 365 592 Bills bought in open market 5.178 371 1.S91 535 487 193 177 649 121 85 142 142 385 U.S.Government securities: Bonds 406,194 22,990 148,403 2^,602 30,24s 14,706 12,694 66,56s 13,664 15,774 13,197 18,730 23,61s Treasury notes l,2l£,490 80,763 387,200 85,271 109,596 53.27s 45,896 212,569 47.692 29,86s 47,157 31,626 85,574 Certificates and bills 807,470 53,927 244,652 56,247 73,180 35.578 30,646 151,706 31,844 19,942 31,490 21,119 57.139 Total IT. S.Govt. securities 2,430,154 157,680 780,255 167,120 213,024 103,562 89,236 430,843 93,200 65,584 91,844 71,475 166,331 35 500 Other securities 535 — — — — — Total bills and securities 2.^69,567 159,014 755,72S 177.574 214,920 104,643 90,01s 432,611 93,451 66,122 71,982 167,308 Due from foreign banks 3.125 237 1,188 342 300 119 110 4l4 10 7 88 88 222 F. R. notes of other banks 15.382 4.975 422 950 808 1,079 2,63s 1,002 661 1.207 271 972 Uncollected items 397.257 , 42 ,8 3 3 97 9 99,270 30,479 38,813 35,072 15,884 51.265 19,531 10,360 21,580 13,660 18,504 Bank premises R2,602 3.224 11,441 4,149 6,788 3,128 2,372 7.387 3,124 1,657 3,485 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 48,577 837 31,455 5.716 l,44s 1,984 2,512 1,023 283 1,171 462 1,060 626 TOTAL ASSETS 8,032,214 610,003 2,632,362 552,850 659,195 354,442 249,260 1,518.363 300,110 193,306 276,961 188,098 497.264 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AKD LIABILITIES OF THE FEDERAL RESERVE BABES OH MAY 30, 1934 L I A B I L I T I ES (in thousands of dollars) B-SOlc Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3,051,604 244,368 636,137 249,696 305,364139,766132,337 77MS0" 353.152 9^3^ 106,221 38,490 197,571 F.R.bank note circulation - net 60,422 954 38,470 5,821 12,255 — — — 320 2,602 Deposits: 3,762,920 281,349 243,904 150,370 66,363 610,257 110,971 68,728 132,510 112,230 226,689 Member bank: - reserve account 1.556,725 202,824 U.S.Treasurer-General account 51,636 4,353 10,801 1,359 3.300 4,791 3.3^4 12,189 5.252 1,790 477 1,712 2,228 Foreign bank 5,592 448 1,519 64s 598 237 218 785 206 143 174 174 442 Other deposits 227,598 3.5U 123,005 15,489 11,048 6,351 1^,596 7,364 15,876 6,461 3,657 1,753 18,487 4,047,746 289,661 1,692,050 220,320 258,850 161,749 84,561 630,595 132,305 77,122 136,81s 115,869 247,846 Total deposits Deferred availability items 399,832 ^2,445 97,951 30,103 33,595 35,653 14,560 55,052 19,229 10,449 21,237 14,873 19.685 Capital paid in 146,271 10,736 59,643 15,337 12,783 M 76 4,383 12,547 4,028 3,037 M 52 3,950 10,699 Surplus 138,383 9,610 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 insurance, etc.) 161,832 11,283 47,266 17,121 16,447 6,963 7,852 22,71s 5,946 4,535 5.^9 11,465 All other liabilities 26,124 946 15,62s 1,100 811 164 422 2,702 374 309 173 3.1^2 353 TOTAL LIABILITIES 8,032,214 610,003 2,632,362 552,850 659,195 35^,^2 249,260 1,518,363 300,110 193,306 276,961 188,098 497,264 Ratio of total reserves to deposit and F.R.note liabilities combined 69.0 73.6 70.4 67.8 67.5 67.3 60.9 71.^ 66.9 64.0 63.3 61.2 66.4 Contingent liability on bills purchased for foreign correspondents 2,730 219 739 317 292 116 107 384 100 70 85 85 216 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 6 months Ovon 6 months Bills discounted 33,700 26,540 2,474 1,893 2,497 274 22 Bills bought in open market 5.178 2,571 198 1,638 771 Certificates and bills 807,470 100,096 51,070 64,462 364~6|2 227,180 Municipal warrants 535 500 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON MAY 30, 1934 (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 3.330,083 263,504 727,687 263,036 319149,599 153,^6 812,382 137,281 99,921 112,4-81 43,725 247,513 Held by Federal Reserve Bank 278,479 19,136 91,550 13,3^0 lMg4 9,833 21,109 38,314 M 29 5,547 6,260 5,235 49,942 in actual circulation 3t05i,6o4 244,36s 636,137 249,696 305,3^4 139,766 132,337 774,068 133,152 94,434 106,221 38,1+90 197,571 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,004,771 271,117 733,706 225,000 261,931 140,340 91,385 747,513 119,936 78,115 97,290 44,675 193,763 18,871 873 11,596 3,462 694 456 468 193 130 112 100 365 422 Eligible paper 364,300 — — 37,000 60,000 10,000 65,000 75,000 19,000 23,300 20,000 ~ 55,000 U. S. Govt, securities Total collateral 3,387,942 271,990 745,302 265,462 322,625 150,796 156,853 822,706 139,066 101,527 117,390 45,040 249,185 FEDERAL RESERVE BANK NOTE STATEMENT ON MY 30, 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) 73,688 1,511 39,633 16,035 12,775 — — — 53^ ~ ~ 3,200 Held by Federal Reserve bank 13,266 557 1,163 10,214 520 2l4 598 — In circulation - net* 60,422 954 38,470 5,821 12,255 320 2,602 — Collateral pledged against outstanding notes: Discounted and purchased bills —— — —_ —— _ — — — — — — — —_ U. S. Govt, securities 81,474 5,000 39,971* 16,500 15,000 1,000 4,000 Total 81,471* 5,000 39,974 16,500 15,000 ~ — 1,000 — — 4,000 •Does not include $92,764,000 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