H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, June 29; Federal Reserve Board not earlier. June 28, I93U COHDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended June 27, as reported by the Federal Reserve "banks, was $2U6g,000,000, } a decrease of $^,000,000 compared with the preceding week and an increase of $272,000,000 compared with the corresponding week in 1933• On June 27 total Reserve bank credit amounted to $2,^65,000,000, a decrease of $3,000,000 for the week* This decrease corresponds with decreases of $^4-,000,000 in Treasury cash and deposits with Federal Reserve banks, $9000,000 in money in f circulation and $2,000,000 in nonmember deposits and other Federal Reserve accounts and increases of $11,000,000 in monetary gold stock and $5,000,000 in Treasury and National bank currency, offset in part by an increase of $68,000,000 in member bank reserve balances. 1 There was practically no change during the week in the Systems holdings of bills discounted and of bills bought in open market. An increase of $26,000,000 in holdings of United States Treasury notes was offset by decreases of $23,000,000 in Treasury certificates and bills and $3,000,000 in United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended June 27, 193*+» were as follows: Increase or decrease since June 27 June 20 June 28 193*+ 193H 1933 (in millions of dollars) Bills discounted 27 - 1 - 164 Bills bought 5 - 3 U. S. Government securities 2,430 + 455 Other Reserve bank credit - 2 - 4 3 TOTAL RESERVE BAM CREDIT 2,1*65 - 3 + 283 Monetary gold stock 7,s46 +11 +3.S15 + 5 Treasury and National bank currency 2,36^ + 6S Money in circulation 5,301 - 87 Member bank reserve balances 3.S37 +68 Treasury cash and deposits with F,R.banks 3,077 -44 +2,760 Honmember deposits and other F.R.accounts 46l - 2 - 56 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 29, 193^. not earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE HANKS COMBINED (In thousands of dollars) June 27. 1934 June 20.1934 June 28.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 4,781,748 4,788,726 966,69!+ & old — — 2,533,003 Redemption fund - F. R. notes . . .. 24,972 26,254 44,068 Other cash 237.803 212.810 290.507 Total reserves 5.°^»523 5,047,790 3,834,272 Redenption fund - F. R. bank notes ^,335 ^.352 7,392 Bills discounted: Sec. by U.S.Government obligations. 6,732 6,760 45,144 Other bills discounted 20,283 21.196 145.837 Total bills discounted . . .. 27,015 27,956 190,981 Bills bought in open market 5»215 5»200 8,186 U. S. Government securities: Bonds ^69,253 472,206 Treasury notes 1,219,172 1,192,609 Certificates and bills 741,849 765.365 .. 829.329 Total U.S.Government securities 2,430,274 2,430,180 1,975,212 Other securities 519 521 2.848 Total bills and securities . 2,463,023 2,463,863 2,177,227 Due from foreign banks 3,129 3»129 3,729 F. R. notes of other banks 20,517 17,318 l6,4ll Uncollected items ^35»5°9 46b,297 340,469 Bank premises . .. 52,630 52,630 5^,312 Fed. Dep. Ins. Corp. stock 139,299 139,299 All other assets 46,206 44.247 50.193 TOTAL ASSETS 8,209,171 8,238,925 6,484,005 L I A B I L I T I ES F. R. notes in actual circulation . . 3>055,99^ 3,054,216 3,061,324 F. R. .bank note circulation - net . . ^6,347 55,353 120,081 Deposits: Member bank - reserve account . . . 3,836,536 3,768,556 2,286,207 U.S.Treasurer - General account . . 13^,396 196,951 55,029 Foreign bank 5,767 4,4s4 20,286 Other deposits 219.281 219.943 148.26l Total deposits ^,195,980 4,189,934 2,509,783 Deferred availability items . . .. 4^6,342 464,856 339,652 Capital paid in 147,129 147,107 146,744 Surplus 13S, 3S3 138,383 278,599 Reserves (F.D.I.C. stock, self insurance, etc.) 161,834 161,834 12,179 All other liabilities 27,162 27,242 15,643 TOTAL LIABILITIES 8,209,171 8,238,925 6,484,005 Ratio of total reserves to deposit and F. R. note liabilities combined 69.7$ 68.8$ Contingent liability on bills purchased for foreign correspondents 1,7^0 1,957 36,060 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MID LIABILITIES OF THE FEDERAL RESERVE BANKS ON JU1IE 27, 1934 (In thousands of dollars) B-801b A S S E TS 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- 4,781,748 399,521 1,663,145 275,737 347,760 176,722 121,106 1,020,208 162,363 97,254 146,166 92,023 279,743 Redemption fund - F. R. notes 24,972 2,111 1,707 2,606 3,080 1,568 3,479 2,183 968 1,168 1,005 554 4,54*5 Other cash 237,803 18,211 65,428 35.507 12,316 8,705 12,570 31,37S 11,349 12,67S 10,791 6,166 12,704 Total reserves 5,044,523 419,843 1,730,280 313.S50 363,156 186,995 137,155 1,053.769 174,680 111,100 157,962 98,743 296,990 Redemption fund - F.R.bank notes 4,335 250 2,038 858 715 — — — — — — 474 — Bills discounted: Sec. "by U.S. Govt, obligations 6,732 916 3,52 s 1,086 78 114 69 441 124 110 95 44 127 Other bills discounted 20,283 355 10,894 5,555 564 757 50s 289 17 375 177 433 359 Total bills discounted 27,015 1,271 14,422 6,64i 642 S71 577 730 l4i •485 272 477 486 Bills bought in open market 5,215 371 1,951 536 487 193 178 649 121 85 142 142 360 U.S.Government securities: Bonds 469,253 27,225 169,173 30,022 35,998 17,501 15,143 76,501 16,166 17.358 15,672 20,387 28,107 Treasury notes 1,219.172 80,454 386,649 84,947 109,175 53,076 45,719 218,102 47,509 29,814 46,976 31,506 85,245 Certificates and bills 741,849 50,000 224,433 52,151 67,852 32,985 2S,4I6 136,240 29,525 18,490 29,196 19,582 52,979 Total U.S.Govt, securities 2,430,274 157,679 780,255 167,120 213,025 103,562 89,278 430,843 93,200 65,662 91,844 71,475 166,331 Other securities 519 — 35 4s4 — — — — —- — — — — Total bills and securities 2,463,023 159,321 796,663 174,781 214,154 104,626 90,033 432,222 93.462 66,232 92,258 72,094 167,177 Due from foreign banks 3,129 236 1,195 341 300 119 109 4l4 10 7 88 88 222 F.R. notes of other banks 20,517 362 8,253 590 1,126 1,358 1,085 2,811 1,130 750 916 602 1,534 Uncollected items 435,509 42,966 119,309 35,805 42,965 34,870 12,074 59,303 16,170 12,397 23,497 15,806 20,347 Bank premises 52,630 3,224 II,IJ49 4,170 6,738 3,128 2,372 7.387 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 9,850 All other assets 46,206 811 29,649 5,465 1,4i4 1,853 2,433 1,179 2 68 1,118 470 967 579 TOTAL ASSETS 8,209,171 637,243 2,741,365 550,481 644,765 333,757 250,533 1,576,234 293,937 196,771 282,807 194,890 500,788 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES 07 THE FEDERAL RESERVE BAMS 03? JUKE 27, 1934 (In thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R. notes in actual circulation 3>055,99^ 243,834 640,185 245,567 306,390 140,469 134,064 765,792 131,224 94,872 107,169 40,079 203,349 F.R.bank ncte circulation - net 46,34-7 ^90 35,473 4,793 Mso — - — — 1,311 — Deposits: Member bank-reserve account 3,836,536 312,905 1,597,028 206,547 229,7^0 133.931 71.621 64l,161 112,767 62,213 128,763 114,327 219,533 U.S.Treasurer-General account 134,396 1,630 44,626 1,119 2,152 8,76s 6,173 43,4'72 3,184 2,096 7.294 4,592 3,290 Foreign bank 5*767 269 3.319 339 359 1^2 131 472 124 86 105 105 266 Other deposits 219,281 2,366 133.286 7,526 8,499 3.299 9,119 5.5^ 13,209 7.923 3.756 1.476 22,078 Total deposits M95.920 317,170 1.772,259 215,581 246,750 146,740 27,044 690,649 129,824 72,312 139,912 120,500 245,167 Deferred availability items 436,342 43,217 117.352 3^.672 43,224 34,269 11,586 61,421 17,557 12,211 22,990 17,910 19.927 Capital paid in 147,129 10,739 60,302 15,406 12,690 4,970 4,394 12,61s 4,027 3,049 4,142 3,992 10,728 Surplus 132,323 9,610 45.217 13.352 14,090 5.171 5.1^5 20,621 ^,756 3,420 3,613 3,623 9,645 Reserves (F.D.I.C. stock, self insurance, e tc.) 161,234 11,223 47,266 17.121 16,447 6,963 22,712 5.946 4,748 5,429 11,465 All other liabilities 27,162 900 17.305 929 294 175 7, 5Pt 2,955 5^3 " 11 221 1,920 447 TOTAL LIABILITIES 8,209,171 637,243 2,741,365 550,421 644,765 332,757 250,533 1,576,834 293,937 196,771 222,207 194,890 500,722 P;atio of total reserves to deposit and E.K. note liabilities combined 69.6 74.2 71.5 67.6 65.7 65.1 62.0 72.4 66.9 64.1 63.9 61.5 66.2 Contingent liability on bills purchased for foreign correspondents 1,7^0 129 567 127 172 68 63 226 59 4i 50 50 128 MATURITY DISTRIBUTION OP 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 Over 6 months Bills discounted 27,015 18,766 1,392 1,268 5,276 4 309 Bills bought in open market 5,215 1,411 2,762 844 198 Certificates and bills 741,849 31,470 19,600 22,462 ll6 769 491,542 Iranicipal warrants 519 484 r 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT" 017 JUlf£ 27, I934 (In thousands of dollars) B-801d Total Boston Hew York Phila. CI eve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F.R.Agent 3^332,310 267,900 737,6853 263,814 322,289 11+9,134 154,682 801,910 136,030 99,853 114,288 45,757 244,970 Held by Federal Reserve bank 232,316 24,066 97.^98 15,247 15,899 8,665 20,618 36,118 4,806 4,981 7,119 5,678 41,621 In actual circulation 3.055»95^ 243,334 640,185 248,567 306,390 140,469 134,064 765,792 131,224 94,872 107,169 40,079 203,349 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3,073,656 271,117 743,706 227,000 264,931 131,340 96,385 809,513 118,936 80,000 97,290 46,675 126,763 Eligible paper 15,725 1,182 8,847 2,345 642 %o 4i6 561 137 189 171 477 308 U. S. Govt, securities 292,000 — 35,000 60,000 19,000 60,000 18,000 20,000 20,000 — 60,000 Total collateral 3.381.3*1 272,299 75.2.553 264,345 325.573 150,790 156,801 810,074 137,073 100,189 117,^61 47,152 247,071 (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve banlc notes: Issued to F.R.bank:(outstanding) 61,058 1.5H 36,682 16,035 J+.705 — 2,125 Held by Federal Reserve bank 1^.711 1,021 1.209 11,242 425 814 In circulation - net* H6, 47 490 35.^73 4.793 4,280 1,311 3 Collateral pledged against outstanding notes: Discounted and -ourchased bills U.S.Govt, securities 66^474 5,000 36,97^ 16,500 5,000 — 3,000 — Total collateral 66,474 5,000 36,97^ 16,500 5,000 3,000 •Does not include $97,176,000 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