H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publicatio B-801 Friday morning, Aug Federal Reserve Board not earlier. August 2, 193^ CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 1, as reported "by the Federal Reserve tanks, was $2,464,000,000, an increase of $3,000,000 compared with the preceding week and of $255»000,000 compared with the corresponding week in 1933* On August 1 total Reserve "bank credit amounted to $2,463,000,000, an increase of $7,000,000 for the week. This increase corresponds with increases of $24,000,000 in money in circulation, $102,000,000 in Treasury cash and deposits with Federal Reserve banks, $3,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $3»000,000 in Treasury and national bank currency, offset in part "by a decrease of $105,000,000 in member bank reserve balances and an increase of $21,000,000 in monetary gold stock. There were practically no changes in the System^ holdings of bills discounted, "bills bought in open market and United Spates Government securities. Changes in the amount of Reserve hank credit outstanding and in related items during the week and the year ended August 1, 1934, were as follows: Increase or decrease since Aug. 1 July 25 Aug. 2 1934 - 1934 JLSiL. (In millions of dollars) Bills discounted 21 -143 Bills bought 5 - 3 U. S. Government securities 2,432 +394 Other Reserve "bank credit 5 +S + 6 TOTAL RESERVE BANK CREDIT 2,463 +7 Monetary gold stock 7,932 +21 Treasury and National bank currency 2,361 - 3 +S0 Money in circulation 5.315 +24 -16 Member m ^m -105 +1,596 Treasury cash and deposits with F.R.banks +102 +2,741 Nonmember deposits and other F.R # accounts 451 + 3 -87 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 3,133^*. not earlier. B-gOla ASSETS AND LIABILITIES OF TEE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Aug. 1.193U July 25.193*+ A^. 2,193? A S S E TS Gold certificates on hand and due from U. S. Treasury . . .. 1+, 906,009 l+, 873,172 9^8,173 Gold — -- 2,572,777 Redemption fund - F. R. notes . . . . .. 2U,003 2l+, 620 38,560 225,891 235,327 251.781+ Total reserves . . 5.155.903 5,133,H9 3,811,29^ Redemption Stand - F. R. bank notes . . . 2,105 2,30^ 7,61+0 Bills discounted: Sec. by U.S.Government obligations . . M 30 ii++,,33ll++66 3399,,8833**++ Other bills discounted . . . . . . .. 17,21+0 16.952 123.708 Total bills discounted . . . . .. 21,370 21,29s 163,5^2 5,206 5.271 8,213 Industrial advances . . . .. 5 U. S. Government securities: Bonds 467,809 1+68,091+ 1+1+1,1+63 Treasury notes 1,252,320 1,252,308 730.678 Certificates and bills 711,651 711,650 865.787 Total U.S.government securities . . 2,1+31,780 2,1+32,052 2,037,928 Other securities 1+65 1+71 1.8H6 Total bills and securities . . .. 2,1+58,826 2,1+59,092 2,211,529 Due from foreign banks . 3,12l+ 3,128 l+,029 F. R. notes of other banks 17,298 18,700 17,821 Uncollected items 1+38,558 399,1^3 37^,170 Banlc premises 52,727 52,728 5!+, 1+17 All other assets 49,671+ 52,751+ 50,183 TOTAL ASSETS . . 8,178,215 8,120,968 6,531,083 L I A B I L I T I ES F. R. notes in actual circulation . . .. 3,078,823 3,060,21+1 3,00l+,605 F. R. bank note circulation - net ... . 33,86U 33,7^+3 126,632 Deposits: Member bank - reserve account 3,9ll+,813 U,020,030 2,319,239 U.S.Treasurer - General account . . .. 159,59^ 1+7,801 56,229 Foreign banlc 6,861+ 7,335 18,661+ Other deposits 211,978 211,851 169.786 Total deposits k,293,21+9 1+,287,567 2,563,918 Deferred availability items ^5,799 381,537 Capital paid in 11+6,552 ll+7,285 11+6,256 Surplus 138,383 138.383 278,599 Reserve for contingencies 22,51+0 22,51+0 12,105 All other liabilities . 27.330 25.^+10 17,1+31 TOTAL LIABILITIES 8,178,215 8,120,968 6,531,083 Eatio of total reserves to deposit and F. R. note liabilities combined . . .. 69.9$ 69.9j> €s.l+# Contingent liability on bills purchased for foreign correspondents 1,085 1,196 37,123 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BALKS Oil AUGUST 1, 193*4 A S S E TS (In thousands of dollars) B-801b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn* Kans.Cy. Dallas S n Fran. a Gold certificates on hand and due from U* S. Treasury 4,906,009 322,761 1,721,912 273,323 378,641 163,920 112,464 1,048,597 166,911 108,245 169,496 86,923 286,816 Redemption f^ad - F.R.notes 24,003 1,925 976 2,329 3,205 1,912 4,035 1,808 877 1,130 923 518 4,365 Other cash 225,891 19,33S 50,418 36,309 13,397 8,64l 13,037 32,194 10,785 13,127 10,287 5,501 12,857 Total reserves 5,155.903 410,024 1,773,306 311,961 395,243 174,473 129,536 1,082,599 17s,573 122,502 180,706 92,942 304,038 Redemption fund ~ F.R.banic notes 2,105 250 1,855 — — — — — — — — — Bills discounted: Sec. by U.S.Govt, obligations 4,130 66 1,672 1,592 173 158 24 100 230 25 10 30 50 Other bills discounted 17,240 163 10,223 4,615 332 553 167 90 20 317 156 33S 266 Total bills discounted 21,370 229 11.895 6,207 505 711 191 190 250 342 166 368 316 Bills bought in open market 5,20b 371 1*937 537 4SS 193 17s 65O 122 85 142 142 361 Industrial advances 5 5 U.S.Government securities: Bonds 467,S09 27,226 165,752 30,020 35,996 17,502 15.951 76,07s 16,165 17,350 17,273 20,3S9 28,107 Treasury notes 1,252,320 82,793 395,159 87,393 112,357 54,622 49,687 222,281 48,893 30,633 48,345 32,424 87,728 Certificates and bills 711,651 47.655 216,844 49,707 64,671 31,439 28,599 129,984 28,142 17,626 27,826 18,662 50,496 Total U,S.Govt, securities 2,431,780 157.679 777,755 167,120 213,024 103,563 94,237 428,343 93,200 65,609 93,444 71,475 166,331 Other securities 465 35 430 — — — — — „ — --. Total bills and securities 2,1+58,826 158,279 791,622 174,294 214,017 104-.467 94,606 429,183 93,572 66,o4i 93,752 71,985 167,008 Due from foreign banks 3,124 236 1,192 341 300 119 109 4l4 10 7 S7 87 222 P. R. notes of other banks 17,298 356 4,068 696 1,036 1,629 1,047 3,001 706 427 1,480 261 2,591 Uncollected items 438,558 49,253 111,596 35,307 43,267 37,261 10,959 58,293 16,016 10,983 28,740 16,599 20,284 Bank premises 52,727 3,224 11,455 4,252 6,788 3,128 2,372 7,327 3,126 1,664 3,485 1,757 4,089 All other assets 49,674 697 33,602 5,182 1,403 1,811 2,309 1,204 279 1,099 523 979 581 TOTAL ASSETS g,17S215 622,319 2,728,696 532,033 662,059 322,888 2UO,93S 1,532,081 292,252 202,723 308,773 lSU6lO 498,813 f f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AJTD LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 1, 1934 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 Iran. F,R.notes in actual circulation 3,07s,823 2^6,003 650,933 246,932 307.955 140,289 132,457 764,103 133.303 98,589 111,026 41,225 206,008 F.R.bank note circulation - net 33,864 91s 32,946 — Deposits: Member tank - reserve account 3.91M13 297.968 1,605,980 203,094 256,557 125,550 72,065 685,247 111,984 74,861 148,747 110,272 222,488 U.S.Treasurer - General account 159,59^ 914 76,669 2,706 16,73^ 5.832 7,237 26,632 685 1.298 9.331 2,308 9,248 Foreign "bank 6,864 479 2,508 693 639 253 233 839 220 153 I87 187 ^73 Other deposits 211,978 4,294 124,179 8,328 2,168 5.244 18,384 8,617 4,608 1,660 Total deposits 4,293,249 303,655 1,809,336 219,860 282,258 133.803 84,779 717,652 131,273 84,929 162,873 114,427 248,404 Deferred availability items 437,474 49.7^2 106,816 33,^38 42,024 37.362 11,24s 60,988 17.752 10,853 26,349 18,725 22,177 Capital paid in 146,552 10,699 59,474 15.350 12,93^ 4,975 4,441 12,672 4,034 3.078 4,122 4,000 10,773 Surplus 138.383 9,610 45,217 13,352 14,090 5.171 5.1^5 20,681 4,756 3,420 3.613 3,683 9,645 Reserve for contingencies 22,540 1.053 4,737 2,500 2,300 1.155 2,581 2,969 853 1,026 617 1,130 1,619 All other liabilities 27.330 632. 19,237 601 498 133 287 3,016 311 828 1Z3- 1.420 1SZ. TOTAL LIABILITIES 8,178,215 622,319 2,728,696 532,033 662,059 322,888 240,938 1,582,081 292,282 202,723 308,773 184,610 498,813 Ratio of total reserves to deposit and F.R.note liabilities combined 69.9 74.6 72.1 66.8 67.0 63.7 59.6 73.1 67.5 66.8 66.0 59.7 66.9 Contingent liability on bills purchased for foreign correspondents 1,085 80 356 116 107 42 39 1^1 37 26 31 31 79 MATURITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to $0 days Over 6 months 6 months Bills discounted 21,370 14,498 1.007 4,919 . 805 131 10 Bills bought in open market 5.206 606 1,413 400 2,787 Certificates and bills 711,651 54,263 36,997 98,122 104,325 417,944 Municipal warrants 465 430 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEEA1 RESERVE NOTE STATEMENT ON AUGUST 1, 1934 (In thousands of dollars) B-S01d 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 3,36l,lG2 271,907 7^.323 263,713 324,295 150,323 152,3338 02,812 137,210 102,522 117,365 ^6,329 253,025 Held by federal Reserve bank 288,339 25,904 9^,390 16,781 l6,340 10,039 19, 38,709 3>907 3.933 6,339 5,10^ ^7,017 In actual circulation 3,078,823 246,003 ",650,933 246,932 307,955 l40,289 132,^57 76*4,103 133,303 98,589 111,026 Hi,225 206,008 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S. Treasury 3.098,156 276,117 753,706 221,500 277.^31 H7,3>+0 86,385 809,513 118,936 85,000 105,290 47,175 199,763 Eligible paper 10,831 229 6,194 2,271 505 369 191 190 242 67 73 36s 132 U.S. Govt, securities 297,400 — — Ho,000 50,000 34,000 67,000 19,000 18,400 15,000 — 54,000 Total collateral 3,406,387 276,346 759.900 263,771 327.936 151.709 153.576 809,703 13s.178 103,467 120,363 47,5^3 253,895 FEDEFAL RESERVE BANK NOTE STATEMENT ON AUGUST 1, 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) 45,118 1,511 33,399 10,208 Held by Federal Reserve bank 11,254 593 453 10,208 In circulation - net* 33,864 918 32,9^6 Collateral pledged against outstanding notes: Discounted and purchased bills 50,474 5,000 33,474 12,000 U.S. Govt, securities 50,474 5,000 33,474 12,000 Total collateral •Does jaot include $103,561,000 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