H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PEESS Released for publication B-SOl Friday morning, June 22; Federal Reserve Board not earlier. June 21, 193^• CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended June 20, as reported by the Federal Reserve banks, was ,000*000,fan increase of $28,000,000 compared with the preceding week and of $269,000,000 compared with the corresponding week in 1933• On June 20 total Reserve bank credit amounted to $2,H6g,000,000, a decrease of 000,000 for the week. This decrease corresponds with decreases of $126,000,000 in member bank reserve balances, $26,000,000 in nonmember deposits and other Federal Reserve accounts and $3,000,000 in money in circulation and an increase of $15,000,000 in monetary gold stock offset in part by an increase of $165,000 ,000 in Treasury cash and deposits with Federal Reserve banks and a decrease of $2,000,000 in Treasury and National bank currency. There was practically no change during the week in the System1 s holdings of bills discounted and of bills bought in open market. An increase of $66,000,000 in holdings of United States bonds was offset by decreases of $9,000,000 in United States Treasury notes and $57,000,000 in Treasury certificates and bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended June 20, 193^* were as follows: Increase or decrease since June 20 June 13 June 21 193U 193*+ 1933 (in millions of dollars) Bills discounted 2S -19U Bills bought 5 - 1+ U. S. Government securities 2,U30 +U75 Other Reserve bank credit 5 - 3 - 3 TOTAL RESERVE BAM CREDIT 2,H6g - H +27^ Monetary gold stock 7.S35 +15 +3,805 + Gk Treasury and National bank currency 2,359 - 2 Money in circulation 5.310 - 3 - 99 Member bank reserve balances 3.769 -126 +1.56U Treasury cash and deposits with P.R.banks 3.121 +165 +2,716 Uonmember deposits and other IF .R.accounts H63 -26 -37 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 22,1934; earlier. B-SOla ASSETS AITD LIABILITIES OF THE TTJILVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) June 20.1934 June 13.1934 June 21.1933 A S S E TS Gold certificates on hand and due from TJ. S. Treasury . 4,788,726 4,727,162 965,232 Gold • • » » • • •» • • • • • • • •• 2,523.720 — — Redemption fund - F. R. notes 26,254 28,200 44,250 Other cash 232,810 233,854 227.060 Total reserves 5,047,790 5,049,216 3,820,268 Redemption fund - F. R. hank notes . . H.352 4,695 7,392 Bills discounted: Sec. by U.S.Government obligations . 6,760 6,047 ^7,477 Other bills discounted . . . . . .. 21,196 21,829 17^,579 Total bills discounted . . .. 27,956 27,S76 222,056 Bil'ls bought in open market 5,200 5,201 8,827 TJ. S. Government securities: Bonds . . .. 472,206 4o6,4i6 441,030 Treasury notes . 1,192,609 1,202,264 693,482 Certificates and bills 765.365 821.726 820,162 Total U.S.Government securities . 2,^30,180 2,430,406 1,954,674 Other securities 527 53^ 2,923 Total bills and securities . . . 2,463,863 2,464,017 2,188,480 Due from foreign banks 3,129 3,128 3,235 F. R. notes of other banks 17,318 18,165 21,471 Uncollected items 466,297 494,632 379,017 Bank premises 52,630 52,610 5^,312 Fed. Den. Ins. Corp. stock . . . . .. 139,299 139,299 — All other assets . . .. 44.247 53,224 50,951 TOTAL ASSETS 8,238,925 2,279,526 6,525,726 L I A B I L I T I ES F. R. notes in actual circulation . . . 3.054,216 3,054,479 3,090,226 F. R. bank note circulation - net . . . 55,353 57,340 117,774 Deposits: Member bank - reserve account . . .. 3,768,556 3,295.102 2,205,302 U.S.Treasurer- General account . . . 196,951 47,293 129.527 Foreign bank 4,484 ' 4,322 10,028 Other deposits 219,943 246.474 141,843 Total deposits 4,189,934 4,193,797 2,486,760 Deferred availability items 464,856 489,990 377,793 Capital paid in 147,107 l46,46o 147,665 Surplus 13S.323 132,323 272,599 Reserves (F.D.I.C. stock, self insurance, etc.) 161,834 161,233 12,179 All other liabilities 27,242 37,304 14,670 TOTAL LIABILITIES 8,238,925 2,279,526 6,525,726 Ratio of total reserves to deposit and F. R. note liabilities combined . . 69.7$ 69.7$ 68.5$ Contingent liability on bills purchased for foreign correspondents 1,957 2,093 3366,,994488 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAKES ON JUNE 20, 1934 A S S E TS (In thousands of dollars) B-SOIb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U.S. Treasury 4, 788,726 1+01.709 1,601,2^6 284,784 357,903 185,789 128,688 1,023,680 170,247 101,019 l4s,688 95.127 289,846 Redemption fund - F. E. notes 26,25^ 2,232 l>934 2,686 3,122 1,812 3,585 2,31+8 1,002 1,279 1,045 567 4,576 Other cash 232,810 18,084 62,302 35,521 13,698 8,508 11,763 31,243 10,049 12,356 10,347 6,oo4 12,335 Total reserves 5,047,790 422,025 1,665,482 322,991 374,789 196,109 144,036 1,057,871 181,298 114,654 160,080 101,69s 306,757 Redemption fund - F.R.bank notes 4,352 250 1,921 858 715 — — 134 — 474 Bills discounted: Sec. by U.S.Govt, obligations 6,760 511 3,564 1,066 129 144 117 44i 153 149 275 44 167 Other "bills discounted 21,196 395 10,877 5,800 1,266 735 4l4 250 25 397 204 437 396 Total bills discounted 27,956 906 14,441 6,866 1,395 879 531 691 172 546 479 481 563 Bills bought in open market 5,200 371 1,937 536 487 193 177 649 121 25 142 142 360 U.S.Government securities: Bonds 472,206 27,225 172,173 30,022 35,992 17,502 15,115 76,502 16,165 17,340 15,671 20,387 26,106 Treasury notes 1,192,609 78,864 375,924 83,289 107,018 52,026 44,815 214,375 46,570 29,176 46,048 30,883 83,561 Certificates and bills 765,365 51,590 232,092 53,209 70,009 34,034 29,312 139,966 30,465 19,082 30,125 20,205 54,664 Total U.S.Govt, securities 2,430,180 157,679 780,255 167,120 213,025 103,562 89,248 430,843 93,200 65,598 91,844 71,475 166,331 Other securities 527 — 35 492 —. — — — — — — — Total bills and securities 2,463,863 152,956 796,668 175,014 214,907 104,634 29,956 432,183 93,^99 66,229 92,465 72,098 167,254 Due from foreign banks 3,129 236 1,195 341 300 119 109 4l4 10 7 83 ss 222 F.R.notes of other banks 17,312 341 6,045 639 623 883 994 3,072 1,125 921 1,310 267 1,038 Uncollected items 466,297 49,545 115,501 37,647 46,919 43,281 13 Ml 60,834 18,624 12,566 27,540 17,709 22,710 Bank premises 52,630 3,224 11,449 4,170 6,788 3,128 2,372 7,327 3,124 1,657 3,485 1,757 4,089 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 9,250 All other assets 44,247 816 27.636 5,449 1,417 1,842 2,456 1,181 280 1,144 457 959 610 TOTAL ASSETS 8,238,925 645,623 2,668,426 561,730 660,605 355,204 253,616 1,582,691 303,247 200,688 289,556 199,409 512,530 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OP THE FEDERAL RESERVE BAMS ON JUKE 20, 1934 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran F.R.notes in actual circulation 3,054,216 242,501 637,767 247,117 303,033 l4l,254 135,184 767,9l4 132,233 95,248 107,506 1+0,109 204,350 F.R.bank note circulation - net 55.353 507 36,209 5,003 11,916 — — — 325 — — 1,393 — Deposits: Member bank reserve acco-cait 3.768,556 301,812 1,5^5,5^0 205,693 233,573 135.857 73.159 623,059 109,516 67,616 127,956 112,498 232,277 U.S.Treasurer-General account 196,951 15,956 28,527 8,804 12,682 15,274 11,629 60,987 11,849 7,OSS 11,01+5 7,567 5,543 Foreign baric 4,484 269 2,0^6 389 359 142 131 bj2 124 86 105 105 266 Other deposits 219,9^3 2,590 lft.571* 11,810 g.^2 5.022 7,983 7.823 14,568 7.264 3,702 1,386 14,679 Total deposits 4,189,93^ 320,627 1,710,677 226,696 255,156 156,295 92,902 692,341 136,057 82,054 142,808 121,556 252,765 Deferred availability items 464,856 49,516 114,091 36,ll4 46,448 40,958 12,701 63,504 19,516 12,038 26,5^0 20,355 23,065 Capital paid in 147,107 10,739 60,298 15,400 12,688 4,953 4,394 12,618 4,027 3.049 4,148 3,970 10,793 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, e*,c.) 161,834 11,283 47,266 17,121 16,447 6,963 7,853 22,718 5,946 4,535 4,748 5,48 911,465 All other liabilities 27.2H2 840 16.901 927 827 180 437 2.915 ^87 ^44 183 2.854 447 TOTAL LIABILITIES 8,238,925 645,623 2,66s,426 561,730 660,605 355,804 258,616 1,582,691 303,247 200,688 239,556 199.409 512,530 Ratio of total reserves to deposit and F.R.note liabilities combined 69.7 74.9 7O.9 68.2 67.1 65.9 63.1 72.4 67.6 64.7 64.0 62.9 67.I Contingent liability on bills purchased for foreign correspondents 1,957 192 209 278 257 102 93 337 88 6l 75 75 190 MATURITY DISTRIBUTION OF BILLS A11D SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days months° Over 6 months Bills discounted 27,956 20,006 1,075 1,514 5,064 297 Bills bought in open market 5,200 1,358 371 3,128 343 Certificates and bills 765,365 33,105 33,225 80,262 129,469 489,304 Municipal warrants 527 492 — — 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON JUNE 20, I93U (In thousands of dollars) B-gOld Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: , , , ilk,7ki Issued to F.R.barik by F.R.Agent 3,3*+8,703 266,970 7^,159 263.526 322,866 150,781 155,5*+3 807,31*5 136,600 100.1*28 U5.287 2M+.U66 2SkMl Held by Federal Reserve bank 2^,^69 102,383 16,1+09 19,833 9,527 20,359 39,^31 M fo 5.180 7,235 5,178 kO,116 In actual circulation 3,051*,216 21+2,501 637,767 21*7,117 303,033 11*1,251* 135*181* 767.91*+ 132,233 95,21+8 107,506 1+0,109 20l+,350 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,102,871 271,117 7^3,706 232,000 27^,931 132,3^+0 96,385 809,513 121,936 81,115 97,390 1+5,675 196,763 Eligible paper 16,21+5 816 9,61+3 2,517 759 ~ 1+55 1*22 579 168 239 382 1+81 38l+ U. S. Govt, securities 267.000 ^2.000 SO.000 19.000 60.000 = 16.000 PQ.QQQ ?Q,QQQ 50,000 Total collateral 3,386,116 271,933 752,7^9 266,517 325,690 151,795 156,807 810,092 138,101* 101,351* 117,772 1+6,156 2l+7,ll+7 FEDERAL RESERVE BAM NOTE STATEMENT ON JUNE 20, I93I+ (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.S.bankCoutstanding) 71,250 1,511 38,765 16,035 12,205 53*+ 2,200 Held by Federal Reserve bank In circulation - net* 55,353 507 36,209 5,003 11,916 - 325 - 1,393 Collateral pledged against outstanding notes: Discounted and purchased bills U.S.Govt, securities 80,1*71+ 5,000 39,97*+ 16,500 15,000 — 1,000 3,000 Total collateral 80,1+71+ 5,000 39,971+ 16,500 15,000 — 1,000 3,000 •Does not include $90,980,000 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