H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, June 15; Federal Reserve Board not ea,rlier. June Ik, 133b. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended June 13, as reported "by the Federal Reserve banks, was $2,1+1+1+, 000,000, a decrease of $26,000,000 compared with the preceding week and an increase of $235,000,000 compared with the corresponding week in 1933• On June 13 total Reserve bank credit amounted to $2,1+72,000,000, a decrease of $3,000,000 for the week, tfhis decrease corresponds with decreases of $78,000,000 in Treasury cash and deposits with Federal Reserve banks and $29,000,000 in money in circulation and an increase of $30,000,000 in monetary gold stock, offset in part by increases of $108,000,000 in member bank: reserve balances and $22,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of 000,000 in Treasury and National bank currency 1 The Systems holdings of bills discounted declined $1,000,000 and of United States Treasury notes $13,000,000, while holdings of Treasury certificates and bills increased $13,000,000. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended June 13* 193*+» wor-irsc follows: Increase or decrease since Jne 13 June 6 June lU u iq^ 19^ 1933 (in millions of dollars) Bills discounted 28 ~ 1 -226 Bills bought 5 - 5 U. S. Government securities 2,1+30 +1+98 Other Reserve bank credit 8 2 - 7 TOTAL RESERVE BANK CREDIT 2,U72 - 3 +260 Monetary gold stock 71820 +30 Treasury and National bank currency 2,361 - lj. Money in circulation 5,313 -29 -123 Member bank reserve balances 3,895 +108 +1,61*+ Treasury cash and deposits with F«R. banks 2,956 -78 +2,61+0 Nonmember deposits and other F,Raccounts 1+89 +22 -15 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 15;1934; not earlier. B-SOla ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) June 13.1934 June 6,1934 June 14,1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . . 4,787,162 4,706,157 963,61s Gold 2,526,266 — — Redecption fund - F. R. notes 28,200 30,010 42,906 Other cash 233,854 223,321 ,293.254 Total reserves 5,01+9,216 4,959,^88 3,826,044 Redenption fund - F. R. bank notes . . . M 95 4,434 7,242 Bills discounted: Sec. by U.S. Government obligations . 6,047 5,618 55,565 Other bills discounted 21,829 23,379 , 198,197 Total bills discounted 27,876 28,997 253,762 Bills bought in open market . . . . .. 5.201 5,221 10,200 U. S. Government securities: 4o6,4i6 406,258 441,188 Treasury notes 1,202,264 1,214,508 683,509 Certificates and bills . 821.726 809,470 807,747 Total U.S. Government securities . 2,430,406 2,430,236 1,932,444 Other securities 53H 534 3,624 Total bills and securities , . 2,1+64,017 2,464,988 2,200,030 Due from foreign banks . 3,128 3,122 3,832 F. R. notes of other banks 18,165 18,451 18,848 Uncollected items 494, 632 435,751 407,388 Bank premises 52,610 52,609 5^,312 Fed, Dep. Ins. Corp. stock . . . . .. 139,299 139,299 — All other assets 53,821+ 49.090 52.603 TOTAL ASSETS 8,279,526 8,127,232 6,570,299 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,054,1+79 3,068,807 3,118,379 F. R. bank note circulation - net . . . 57,3^0 58,748 113,264 Deposits: Member bank - reserve account . . .. 3,895,108 33,,778877,,004488 2,281,378 U.S.Treasurer - General account . . . 1+7,893 75,758 46,422 Foreign bank . . . . . . . . . . .. 4,322 3,686 8,410 Other deposits 246.474 225.816 1^,793 Total deposits . . 193,797 4,092,308 2,481,003 Deferred availability items 489,990 429,302 399,701 Capital paid in i46,46o 146,433 147,563 Surplus 13s,323 138,383 278,599 Reserves (F.D.I.C. stock, self insurance, etc.) . 161,833 161,832 12,179 All other liabilities 37,304 31,^19 19,611 TOTAL LIABILITIES 8,279,586 8,127,232 6,570,299 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 69.7$ 6699..33$$ 6688..33 $$ Contingent liability on bills purchased for foreign correspondents 2,093 22,,444477 35.031 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS Oil JUNE 13, I93U A S S E TS (In thousands of dollars) B-SOIb Total Boston New York PMla. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U.S. Treasury 4,787,162 383,233 1,591,900 281,446 370,947 181,741 119,603 1,054,309 166,015 97,971 151,277 92,245 296,475 Redemption fund - F. R. notes 28,200 2,254 2,02g 2,724 3,211 1,512 3,601 4,375 1,010 1,285 1,048 570 4,582 Other cash 233,854 17,996 62.710 35.180 12.60? .8.130 11.982 32.693 10.420 12.156 10.434 6.604 12.942 Total reserves 5,o49,2l6 403,483 1,656,638 319,350 386,765 191,383 135.186 1,091,377 177,^ 111,^12 162,759 99,^19 313,999 Redemption fund - F.R.bank notes 4,695 250 2,264 858 715 — — — 13* — — 474 Bills discounted: Sec. by U.S.Govt, obligations 6,047 449900 3.303 1,329 53 112244 92 1 78 228844 10 **33 200 Other bills discounted 21,829 338 9,713 7,280 1,280 768 427 279 37 393 204 537 573 Total bills discounted 27,876 828 13,016 8,609 1.373 S92 519 280 115 677 214 580 773 Bills bought in open market 5,201 371 1,937 536 487 193 178 649 121 85 142 142 360 U.S.Government securities: Bonds 4o6,4i6 22,988 148,4o4 25.605 30,248 1*,707 12,720 66,569 13,663 15,969 13,198 18,728 23.617 Treasury notes 1,202,264 79,987 380,691 84,459 106,542 52,767 45,479 210,747 *7,233 29,584 *6,703 31.322 84,750 Certificates and bills 821,726 54,704 251.160 57.056 74.235 36.089 31.089 153.527 32.304 20.230 31.943 21.425 57.964 Total U.S.Govt, securities 2,430,406 157,679 780,255 167,120 213,025 103,563 89,288 430,843 93,200 65,783 91,844 71,475 166,331 Other securities 53*+ — 35 499 — — — — — — — — Total bills and securities 2,464,017 158,878 795,243 176,764 214,885 104,648 89,985 431,772 93,436 66,545 92,200 72,197 167,464 Due from foreign hanks 3,128 236 1,195 342 300 119 109 4l4 10 7 87 87 222 F.R.notes of other banks 18,165 335 5,481 592 l,24l 1,184 955 2,803 1,297 623 1,339 336 1,979 Uncollected items 494,632 53,526 129,679 42,398 50,482 39,451 15,324 ,65,950 20,855 12,086 26,730 16,775 21,376 Bank premises 52,610 3,224 ll,44l 4,156 6,788 3,128 2,372 7,387 3.12* 1,657 3,^85 1,757 ^,091 Fed. Dep. Ins. Corp. stock 139,29? 10,230 42,529 14,621 l4,l47 5,808 5,272 19,749 5,093 3,510 4,131 4,359 9,850 All other assets 53,824 823 35.184 2^512 l,Uo6 1,876 2,482 393 1.17*f 1,059 TOTAL ASSETS 8,279,586 630,985 2,679,65* 566,460 676,729 3*7,597 251,685 1,620,492 301,687 197,014 291,187 196,463 519,633 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES OE.JUNE 13, I93U L I A B I L I T I ES (In thousands of dollars) B-gOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,054,479 21+2,641+ 635,33s 248,770 306,289 142,172 135,741 769,058 132,476 94,441 106,939 39,944 200,667 F.R.barik note circulation - net 57.340 440 36,981 5,248 11,959 — 256 2,456 Deposits: Member bank - reserve accoimt 3f895,108 295.511 1,566,269 205,316 250,325 142,306 73.447 677,335 114,982 69,237 140,346 115.989 244,045 U.S.Treasurer-General account U7.893 2,107 19,231 1,920 1,835 2,942 1,229 9,307 574 2,403 1.545 1,584 3,216 Foreign bank 4,322 270 1.874 389 359 142 131 472 12 86 105 105 266 Other deposits 246,1*7*+ 4,282 122,715 15,254 11,049 3.833 8.679 37,579 15,0i 6,994 3.391 1.332 16,352 Total deposits 4,193,797 302,170 1,710,089 222,879 263,56s 149,223 83,486 724,693 130,693 78,720 145,387 119,010 263,879 Deferred availability items 489,990 52,979 123,870 41,084 50,759 38,863 14,635 66,456 21,741 12,464 25,466 18,877 22,796 Capital paid in 146,460 10,736 59,719 15.357 12,777 4,982 4,386 12,607 4,017 3,047 4,i46 3,973 10,713 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.) 161,833 11,283 47,266 17,121 16,447 6,963 7,853 22,718 5,946 4,535 4,747 5,489 11,465 All other liabilities 37,304 1,123 21,174 2,649 840 223 439 4,279 1,802 387 889 3,031 468 TOTAL LIABILITIES 8,279,586 630,985 2,679,654 566,460 676,729 347,597 251,635 1,620,492 301,687 197,014 291,187 196,463 519.633 Ratio of total reserves to deposit and F.R.note liabilities combined 69.7 74.1 70.6 67.7 67.9 65.7 61.7 73.1 67.4 64.3 64.5 62.5 67.6 Contingent liability on bills purchased for foreign correspondents 2,093 192 345 278 256 102 94 337 88 61 75 75 190 MATURITY DISTRIBUTION OF BILLS AMD 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 27,876 20,927 1,565 1,856 2,927 123 Bills bought in open market 5,201 197 i,4o4 3,35*+ 246 478 Certificates and bills 821,726 SS,6o4 31,470 67,880 110,629 228,681 Municipal warrants 534 492 7 35 294,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JUNE 13, I93I+ (In thousands of dollars) B~S01d Total Boston New York Phi la* Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R*bank by F.R«Agent 3,351,519 265,56^ 733*708 265,7^3 325.1^7 152,069 155*556 809,263 137t8^7 100,327 115,623 4^,736 2^5,936 Held "by Federal Reserve bank 297,0^0 22,920 98,370 16,973 18,858 9,897 19,815 *K),205 5,371 5,856 s6sk ^792 **5»269 f In actual circulation 3,05^,1+79 635,338 2^8,770 306,289 1^2,172 135,7^1 769,058 132,^76 SbMl 106,939 39,9^ 200,667 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S .Treasury 3,076,771 271,117 7^3,706 232,000 27^,931 13^,3^0 91,385 789,513120,936 79,115 97.290 1*5.675196,763 Eligible paper 15,672 739 8,662- 2,808 716 U62 360 167 115 366 117 580 580 U. S. Govt* securities 302,700 32,000 50,000 20,000 65,000 25,000 19,000 21,700 20,000 — 50,000 Total collateral 3.395,1^3 271,856 752,368 266,808 325,6^7 15^,802 156,7^5 81^,680 1^0,051 101,181 117*U07 U6,255 2^7,3^3 FEDERAL RESERVE BANK NOTE STATEMENT ON JUNE 13, I93U (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve banlr notes: Issued to PRtank(outstanding) 72,92^ 1,511 39,109 16,035 12,535 53^ 3.200 # # Held "by Federal Reserve bank 1,071 2,128 10,787 576 278 In circulation - net* 57,3^0 1&0 36,981 5.21*8 11,959 - 256 — 2,1*56 Collateral pledged against outstanding notes: Discounted and purchased bills U.S. Govt, securities Bl.kl^ 5,000 16,500 15,000 — 1,000 — U.ooo Total collateral Sl.kfb 5,000 39,97*+ 16,500 15,000 — — -- 1,000 — — 4,000 *Does not include $91,061+,000 of Federal Reserve hank 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