H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-S01 Friday looming, August 10; Federal Reserve Board not earlier. August 9, 1934. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended August 8, as reported by the Federal Reserve banks, was $2,463,000,000, a decrease of $1,000,000 compared with the preceding week and an increase of $248,000,000 compared with the corresponding week in 1933• On August 8" total Reserve bank credit amounted to $2,458,000,000, a decrease of $5,000,000 for the week. This decrease corresponds with decreases of $133*000,000 in Treasury cash and deposits with Federal Reserve banks and $13,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $25,000,000 in monetary gold stock, offset in part by increases of $144,000,000 in member bank reserve balances and $19,000,000 in money in circulation and a decrease of $4,000,000 in Treasury and national bank currency. There was practically no change in the System^ holdings of bills discounted, bills bought in open market and United States bonds* An increase of $6,000,000 in holdings of United States Treasury notes was offset by a decrease of a like amount in holdings of Treasury certificates and bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended August 8, 1934, were as follows: Increase or decrease since Aug. 8 Aug. 1 Aug. 9 1934 193^ -1933 (In millions of"dollars) Bills discounted 21 -135 Bills bought 5 - 3 U. S. Government securities 2,432 +3 84 Other Reserve bank credit -5 - s TOTAL RESERVE BABE CHHWET +238 2,45S -5 Monetary gold stock 7,957 -»25 +3,924 Treasury and National bank currency +76 2,357 - ^ Money in circulation +13 5»33^ +19 Member bank reserve balances 4,059 +144 +1,683 Treasury cash and deposits with J,R.banks 2,941 -133 +2,649 Nomiember deposits and other If .R. accounts 43s -13 -107 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 10;1934; not earlier. B-g01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Aug. 8.1934 Aug. 1.1934 Aug. 9.1933 A S S E TS Gold certificates on hand and due 4,929,5^8 4,906,009 950,173 from U. S. Treasury 2,589,885 GoId • « . • « . . •. . « . * * •< — Redemption., fund - F. E. notes • . , 24,357 24,003 37,729 Other cash 219,961 225,891 248,833 Total reserves . . . . . . .. 5,173,866 5,155,903 3,826,620 Redemption fund - F. R. bank notes • 2,3^7 2,105 8,839 Bills discounted: 3,628 4,130 37,412 Sec* by U.S.Government obligations 16,922 17.£40 118,856 Other bills discounted 20,550 21,370 156,268 Total bills discounted . . • . 5,200 5,206 7,636 Bills bought in open market . . .. Industrial advances 28 5 U. S. Government securities: 467,809 441,796 Bonds 467,799 1,252,320 736,083 Treasury notes . . . . . 1,257,759 Certificates and bills . . . . .. 706,202 -Jllife 870,401 2,431,760 2,431,780 2,048,280 Total U.S.Government securities 440 465 l,86l. Other securities . 2,457,978 2,458,826 2,214,045 Total bills and securities • . Due from foreign banks . . 3,124 3,124 4,020 17,298 15,822 F. R. notes of other banks 16,519 Uncollected items . . . . - 377,518 438,558 331,005 Bank premises 52,753 52,727 54,452 All other assets 50,878 51.384 TOTAL ASSETS . 8,134,983 8,178,215 6,506,187 L I A B I L I T I ES F. R. notes in actual circulation 3,095, 3.07s,823 2,999,245 F. R. bank note circulation - net . 33 33,864 126,563 Deposits: Member bank - reserve account . . 059,070 3,914,813 2,375,866 U*S<TreeL3urQr T General, account # , 2^,595 159,59^ 24,403 Foreign bank , 6,97s 6,S64 30,922 164,401 Other deposits . . . . . . . .. 202.280 211.978 Total deposits . . .. M92,923 4,293,249 2,595,592 Deferred availability items . . .. 381,093 437,474 328,816 Capital paid in 146,612 146,552 146,243 Surplus . . 13s,3S3 138,383 278,599 Reserve for contingencies . . . .. 22,51+1 22,5^0 12,105 All other liabilities . . . . . .. 24,9^ 27,330 19,018 TOTAL LIABILITIES . . 8,134,983 8,178,215 6,506,187 Ratio of total reserves to deposit and F R. note liabilities combined . . . 70.0 69.9 56 68.4$ # Contingent liability on bills purchased for foreign correspondents . . . . .. 895 1,085 36,885 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AITD LIABILITIES OF THE FEDERAL RESERVE BASKS 0!T AUGUST S I33I4. t A S S E TS (In thousands of dollars) B-S01b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due from U. S. Treasury 4,929,51+8 391,730 1,737.930 270,321 376,615 161,599 110,491 1,047,396 170,937 120,922 172,201 87,361 282,045 Redemption fund - F.R^notes 24,357 1.900 1,809 2,275 3,14-3 1,901 3,939 1,718 868 1,108 914 513 4,269 Other cash 219,961 18,51s 51,626 36,370 11,444 7,754 12,650 30,215 10,539 13,433 9,412 5,013 12,987 Total reserves 5,173,866 412,i4s 1,791,365 308,966 391,202 171,254 127,080 1,079,329 182,344 135,463 182,527 92,887 299,301 Redemption fund - F.R.bahk notes 2,347 250 2,097 — — — — — — — — Bills discounted: Sec. "by U.S.Govt. obligations 3,62s 319 1,695 780 262 139 30 100 200 15 15 15 50 Ctiier bills discounted 16,922 93 10,239 4,530 344 526 150 85 20 293 153 3^6 14 3 Total bills discounted 20,550 412 11,934 5,318 606 665 180 185 220 308 168 361 193 Bills bought in open market 5,200 371 1,931 537 4ss 193 178 650 122 85 142 142 361 Industrial advances 28 — 20 ™ -- — 5 3 — — U.S.Government securities: Bonds 467,799 27,227 165,751 30,020 35,997 17,503 15.949 76,078 16,165 17,342 17,272 20,33.9 28,106 Treasury notes 1,257.759 83,164 ^96,944 87,775 112,855 54,864 49,908 223,136 49,110 30,759 48,559 32,560 83,117 Certificates and bills 706,202 47,288 215,060 49,325 64,173 31,196 28,37S 129,129 27,925 17.489 27,613 18,518 50,108 Total IT.S.Govt, securi^ies. 2,431,760 157,679 777.755 167,120 213,025 103,563 94,235 428,343 93,200 65.590 93,444 71,475 166,331 Other securities 440 — 35 405 — — — — — — — — Total bills and securities 2,457,978 15S,462 791,675 173,380 21^.119 104,421 94,593 429,178 93,542 65.988 93,757 71,97s 166,885 Due from foreign banks 3,124 236 1.192 341 300 119 105 4i4 10 7 87 s? 222 F. R. notes of other banks 16,519 359 4,216 621 881 1,449 1,104 2,217 1,223 481 1,317 218 2,433 Uncollected items 377.51S 39.628 92,066 30,871 34,445 34,130 10,313 51,808 14,384 10,796 22,970 14,749 21,353 Bank premises 52,753 3,224 11,455 4,278 6,788 3,128 2,372 7.3S7 3,126 1,664 3,485 1,757 4,089 All other assets 50,878 696 34,823 5,138 1,428 1,801 2,25s 1.231 263 1,091 494 988 667 TOTAL ASSETS 8,13^,923 615,003 2,728,889 523»595 6^9,163 316,302 237,829 l,571,56^4 2$k 832 215,490 30^,637 182,664 494,955 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OK AUGUST 8, 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, P.R.notes in actual circulation 3,095,333 246,028 61+6,966 21+7,539 313,007 ll+2,55l+ 133,222 769,071+ 133,^97 100,1+22 112,029 1+2,376 208,619 F.R.bank note circulation - net 33,184 872 32,312 Deposits: Member bank - reserve account ^,059,070 300,217 1,701,180 203,136 127,209 701,1+99 llU,l+76 85,1+72 153,910 111,657 224,524 U.S.Treasurer - General account 2*+, 595 2,453 7,156 967 3,072 531 1,918 2,1+65 61+8 1,704 1,247 1,552 882 Foreign bank 6,978 1+80 2,623 693 639 253 233 839 220 153 186 186 i+73 Other deposits 202,280 2,730 122,540 10,360 7,995 1,979 3,390 6,061 17,701+ 8,325 3,955 1,215 16,026 Total deposits 1+,292,923 305,880 1,833,1+99 215,156 272,230 129,972 80,807 710,861+ 133,01+S 95,654 159,298 il4,6io 241,505 Deferred availability items 381,093 1+0,21+1 89,606 29,125 3M52 32.323 11,285 52,207 18,31+8 11,037 24,779 16,01s 22,072 Capital paid in 11+6,612 10,699 59,^72 15,350 12,969 *+>975 4,470 12,671 l+,03l+ 3,07s 4,118 4,000 10,776 Surplus 138,383 9,610 1+5,217 13.352 ll+,090 5,171 5,11+5 20,681 4,756 3,420 3,613 3,683 9,645 Reserve for contingencies 22,51+1 1,053 4,737 2,500 2,300 1,155 2,581 2,969 85I+ 1,026 617 1,130 1,619 All other liabilities 2l+,9ll+ 620 17,080 573 515 152 319 3,098 355 853 183 847 319 TOTAL LIABILITIES 8,13!+, 9836 15,003 2,728,889 523,595 61+9,163 316.302 237,829 1,571.561+ 294,892 215,1+90 304,637 182,664 494,955 Hatio of total reserves to deposit and F.R. note liabilities combined 70.0 7^.7 72.2 66.8 66.8 62.8 59 72.9 68.4 69.1 67.3 59-2 6666..44 Contingent liability on Mll§ purchased for foreign correspondents 895 80 116666 111166 107 11++22 39 ll44ll 37 2266 31 31 79 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 20,550 13,083 1,1+62 5,028 872 97 8 Bills "bought 5,200 1+99 1,212 359 3,130 Certificates and bills 706,202 38,232 69,3^8 87,537 lll+,310 396,775 1+1+0 1+05 Municipal warrants 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT 03J AUGUST 8, 1934 (In thousands of dollars) B-SOld 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* 3&8-t 272,01+5 746,901 266,675 329,405 152,56s 153,C4s 804,033 139,644 105,060 119,109 47,719 252,337 293,211 26*017 99»935 19,136 16,39s 10*014 19,826 3^,959 6,147 4,63s 7,080 5,343 43,71s Held by Federal Reserve "bank 3,095,333 246,028 646,966 247,539 313,007 142,554 133,222 7^9,074 133,^97 100,422 112,029 42,376 208,619 In actual circulation Collateral held by agent as security for notes issued to bank: Gold certificates on hand and 3,134,156 276,117 753,706 226,500 282,431 121,340 87,385 809,513 122,936 95,000 111,290 48,175 199,763 due from U.S.Treasury Eligible paper 10,263 412 6,324 i,4is 606 324 180 185 212 46 77 361 us U.S. Govt, securities 281,500 4o,ooo 50,000 32,000 67,000 T ~ 17r-OOQ 11,500 10,000 54,000 Total collateral 3,425,919 276,529 760,030 267,91s 333,037 153,664 154,565 809,69s i4o,l4s 106,546 121,367 48,536 253,831 FEDERAL RESERVE BASS. 1T0TE STATELIEST Oil AUGUST 8, 1934 (In thousands of dollars) Total Boston New York Phi la, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank( outstanding) 44,860 1,511 33,l4l 10,208 Eeld "by Federal Reserve hank 11,676 659 829 10,208 In circulation - net* 33,is4 872 32,312 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 not include $101,144,000 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