H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PKSSS Released for publication B-SOl Friday morning, August 17; Federal Reserve Board not earlier. August 16, 193^ CONDITION OF FEDERAL RESERVE BAKES The daily average volume of Federal Reserve tank credit outstanding during the week ended August 15, as reported 'by the Federal Reserve banks was $2,466,000,000, an increase of $3,000,000 comoared with the preceding week and of $236 ,000,000 compared with the corresponding week in 1933* On August 15 total Reserve bank credit amounted to $2,U6S,000,000, an increase of $10,000,000 for the week. This increase corresponds with increases of $35,000,000 in Treasury cash and deposits with the Federal Reserve banks, of $9,000,000 in money in circulation and of $5,000,000 in member bank reserve balances, offset in part by increases of $22,000,000 in monetary gold stock and $18,000,000 in Treasury and national bank currency. There was practically no change in the System's holdings of bills discounted, bills bought in open market and United States bonds. An increase of $1^,000,000 in holdings of United States Treasury notes was offset by a decrease 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 15, 1934, were as follows: Increase or decrease since Aug. 15 Aug. 8 Aug. l6 193U J ^ L. _123I_ (in millions of dollars) Bills discounted 20 -1 -1U6 Bills bougjht 5 - 2 U. S. Government securities 2,^31 -1 +372 Other Reserve bank credit 11 +11 + 3 TOTAL RESERVE BANK CREDIT 2,468 +10 +228 Monetary gold stock 1,313 +22 +3,9^5 Treasury and National bank currency- 2,375 +18 +94 Money in circulation 5,3^3 + 9 +18 Member bank reserve balances U.06U + 5 +1,693 Treasury cash and deposits with F.R.banks 2,976 +35 +2,661 Nonraember deposits and other F.R.accounts !+39 + 1 -105 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 17;1331+; not earlier, B-SGla ASS3TS AiTD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Aug. 15,193^ Aug. S.19^ Au^ 16.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . 4,961,374 4,929,548 950,761 2,594,403 Gold — Redemption fund ~ F. R. notes . . . . .. 24,313 24,357 37,003 Otner cash « . . • . . • • • . . . • •* 224,456 219.961 240,939 Total reserves . 5,210,143 5,173,266 3,223,106 Redemption fund - F. R. bank notes . • . 2,006 2,347 8,505 Bills discounted: Sec. "by U.S.Government obligations . • 3,220 3,628 4422,,442255 Other bills discounted 16,3*7 16,922 123.466 Total bills discounted 20,207 20,550 165,891 Bills bought in open market ; . 5,200 7,456 Industrial advances 214 2S — U. S. Government securities: Bonds . . . . . .. 467,499 467,799 444422,,777711 Treasury notes . .. 1,271,707 1,257,759 826,941 Certificates and bills 692,251 706,202 739,l4l Total U.S,Government securities . . 2,431,457 2,431,760 2,052,353 Other securities 423 440 1,251 Total bills and securities . . .. 2,457,504 2,457,973 2,234,051 Due from foreign banks 3,125 3,124 4,020 F. R. notes of other banks . . . . . .. 16,703 16,519 15,970 Uncollected items 470,929 377.51S 409,592 Bank -premises . 52,774 52,753 54,452 All other assets . . . . .. 50,873 50,729 TOTAL ASSETS 8,265,161 S,134,923 6,600,431 L I A B I L I T I ES F. R, notes in actual circulation . . .. 3,102,373 3,095,333 2,996,314 F» R. bank note circulation - net . . .. 3322,,665511 3333,,112244 128,138 Deposits: Member bank - reserve account . . .. 4,064,270 4,059,070 2,370,866 U.S.Treasurer - General account . . .. 57,694 24,595 43,333 S,l47 6,97s 29,878 Other deposits 203,261 202,230 167,343 Total deposits . . . . .. 4,333,572 4,292,923 2,616,475 Deferred availability items 464,045 321,093 407,219 Capital paid in . . . . .. 146,423 146,612 146,182 ourplus « • • * .. • * • . . * * « . «. 133,383 132,323 272,599 Reserve for contingencies 22,544 22,541 12,105 All other liabilities . . .. 25,170 24,914 15,349 TOTAL LIABILITIES . . .. 8,265,161 2,134,923 6,600,431 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 7700..11$$ 70.0$ 6633..11$$ Contingent liability on bills purchased for foreign correspondents . . . .. . 642 395 32,257 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MB LIABILITIES OP THE FEDERAL RESERVE BAITKS OK AUGUST 15, 193U . A S S E TS (In thousands of dollars) B-SOlb Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Eran. Gold certificates on hand and due from U. S. Treasury 4,961,374 323,3^1 1,744,564 271,195 381,324 159,752 106,837 1,069,806 171,467 120,913 169,59s 90,376 292,201 Redemption fund - E.R. notes 24,313 1,870 1,579 2,721 3,100 2,081 3,743 1,650 826 1,099 901 493 4 2R0 Other cash 224,456 19,177 50,144 36,507 12,684 8,488 13,259 10,755 10,864 11.772 10,169 5.890 Total reserves 5,210,143 404,388 1,796,287 310,423 397,108 170,321 123,839 1,102,211 183,157 135,784 180,868 96,759 308,998 Redemption fund - F.R.bank notes 2,006 25O 1,756 Bills discounted: Sec. by U.S.Govt, obligations 3 >820 2bi 1.7S4 701 350 194 200 225 15 15 50 Other bills discounted 16,3s7 108 9,S69 4,392 4os 529 162 10 20 218 l4i ^ 147 Total bills discoiuited 20,207 31*9 11,053 5,093 75s 723 192 210 245 233 156 39S 197 Bills bought in open market 5,192 371 1,929 537 488 193 17S 65O 122 85 142 142 361 Industrial advances 214 20 37 35 101 2 13 3 3 U.S. Government securities: Bonds 467,499 27,227 165,751 30,022 35,997 17,502 15,942 76,079 l6,l66 17,345 16,973 20,389 28,106 Treasury notes 1,271,707 84,150 401,059 88,SOI 114,192 55,513 50,501 225,430 49,692 49,134 32,953 8Q,161 31.121 Certificates and bills 692,251 46,302 210,945 4s,297 62,836 30.547 27.787 126.814 274? 17,12/ 27.0^7 18,Uq.OnU Total U.S.Govt, securities 2,431,457 157,679 777,755 167,120 213,025 103,562 94,230 428,343 93,200 65,593 93,144 71,475 166,331 Other securities 428 — 35 393 — — — —— — — Total biiig^and securities 2,457,504 158,399 791,392 173tISO 2l4,2fl 104,478 9^,635 429,304 93,569 65,924 93,445 72,01s 166,889 Due from foreign banks 3,125 236 1,193 3^1 300 119 109 4l4 10 7 87 87 222 F. R. notes of other banks 16,703 373 4,l46 701 1,037 1,855 891 2,879 998 4l3 1,430 260 1,720 Uncollected items 470,989 49,833 115,291 3^,304 47,629 40,138 13,3^6 66,251 19,997 12,581 28,151 18,608 22,860 Bank premises 52,77^ 3,224 11,455 4,300 6,787 3*128 2,372 7,327 3,126 1,664 3,485 1,757 4,089 All other assets . 51,917 696 35,922 5,007 1,433 1,782 2,261 1,276 268 1,123 489 1,004 6*56 TOTAL ASSETS 8,265,161 617,399 2,757,442 530,256 668,565 321,821 237,453 1,609,722 301,125 217,496 307,955 190,493 505,434 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS Oil AUGUST 15, 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 3,102,373 245,338 650,1+97 248,724 313,7^1 1^3,256 132,926 769,521 133, gl+3 101,171 111,921 1+2,121 209,31U 32,651 926 31,725 — F.R.bank note circulation - net Deposits: Member "bank - reserve account 4,064,270 288,735 1,688,710 201,613 264,430 124,049 70,97^ 721,078 118,175 8i+,ll+5 153,528 114,961 233,872 U.S.Treasurer - General account 57,89*+ 7,415 22,172 1,305 6,062 1,807 3,735 3,897 2,1+33 2,372 2,97s 2,624 1,091+ Foreign bank 8,11+7 U79 3,791 693 639 253 233 839 220 153 187 187 1+73 Other deposits 203,261 2,316 125,775 11,81+7 7,610 1,789 4,249 6,254 15.1+97 8.127 ^373 1.570 14.8^4 Total deposits 4,333,572 298,945 1,340,448 215,45s 278,741 127,898 79,191 732,06s 136,325 94,797 160,066 119,342 250,293 Deferred availability items 1+64,01+5 50,165 107,761 34,440 46,229 39,300 12,946 68,635 21,014 12,824 27,301 19,941 23,489 Capital paid in 146,423 10,726 59,475 15,222 12,965 4,988 4,353 12,685 4,022 3,083 4,125 4,000 10,779 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 Reserve for contingencies 22,544 1,053 4,737 2,500 2,300 1,155 2,581 2,969 853 1,026 618 1,133 1,619 All other liabilities 25,170 616. 17 >582. 560 499 Ml ^.161 "512 1,175- 311 273- 295 TOTAL LIABILITIES 8,265,161 617,399 2,757,442 530,256 668,565 321,821 237,453 1,609,722 301,125 217,496 307,955 190,493 505,434 Ratio of total reserves to deposit and F.R. note liabilities combined 70.I 74.3 72.1 66.9 67.O 62.8 58.4 73.4 67.8 69.3 66.5 59.9 67.2 Contingent liability , on ".bills purchased for foreign correspondents 642 47 217 68 62 25 23 82 21 15 18 18 46 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to To tal Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Bills discounted 20,207 13,971 3,802 1,464 8S2 13 75 Bills bo-ught 5,198 378 3,643 423 754 Certificates and bills 692,251 36,998 43,600 111,069 117,718 382,866 Manici-oal warrants 428 393 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT OH AUGUST 15, I93U (in thousands of dollars) B-S01d Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St .Louis Minn. Zans.Cy. Dallas San Fran. .Federal Reserve notes: Issued to F.R.Bank by F. R. Agent 3.389.813 272,280 748,296 265,629 329,521 152,501 153.561 803,820 140,0601 05,673 118,70U ^7,350 252,418 Held by Federal Reserve bank 26,9^2 97,799 16,905 15,780 9,2^5 20,635 34,299 6,217 ^,502 6,783 5,229 43,104 In actual circulation 3,102,373 245,33s .650,1197 248,724 313.7^1 1^3,256 132,926 769,521 133,8^3 101,171 ill,921 42,121 209,314 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S .Treasury 3,125,656 276,117 753,706 218,000 282,431 120,3^0 86,385 809,513 124,936 95,000 111,290 48,175 199,763 Eligible paper 10,250 3U9 6,248 1,250 758 382 i87 210 240 37 69 398 122 29^,500 -- ~ 48,000 50,000 35,000 70,000 — 16,000 11,500 10,000 — 54,000 U. S. Govt, securities Total collateral 3,430,406 276,466 759,95*+ 267,250 333.189 155,722 156,572 809,723 1^1,176 106,537 121,359 ^8,573 253,885 FEDERAL RESERVE BANK 1T0TE STATEMENT ON AUGUST 15, 1934 (In thousands of dollars) Total Boston lis:- Yori Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy* Dallas San Fran, federal Reserve bank notes: Issued to F.R.bank( out standing) 44,019 1,511 32,300 10,208 Held by Federal Reserve bank 11,368 585 575 10,208 In circulation - net* 32,651 926 31,725 Collateral pledged against outstanding notes: Discounted and purchased bills 49,474 5,000 32,474 12,000 U. S. Govt, securities 49,474 5,000 32,474 12,000 Total collateral *Does not include $99,353,000 of Federal Reserve bank notes for the retirement of uhich Federal Reserve barks have deposited lawful money with the Treasurer of the United States. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis