H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication B-801 Friday morning, August 24; Federal Reserve Board not earlier* August 23• 193^ • CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 22, as reported "by the Federal Reserve banks,was ,000,000, a decrease of $2,000,000 compared with the preceding week and an increase of $221,000,000 compared with the corresponding week in 1933* On August 22 total Reserve "bank credit amounted to $2,^57,000,000, a decrease of $11,000,000 for the week. This decrease corresponds with a decrease of $4,000,000 in Treasury cash and deposits with Federal Reserve banks and increases of $15,000,000 in Treasury and National bank currency and $4,000,000 in monetary gold stock, offset in part by increases of $8,000,000 in member bank reserve balances and $4,000,000 in money in circulation. There were practically no changes in the System's holdings of bills discounted, bills bought in open market, or United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended August 22, 1934, were as follows: Increase or decrease since Aug. 22 Aug. 15 Aug. 23 1934 1934 1933 (in millions of dollars) Bills discounted 20 — -I3O Bills bought 5 — - 2 U. S. Government securities 2,432 + l +338 Other Reserve bank credit * -11 - 7 TOTAL RESERVE BANK CREDIT 2,1+57 -11 +199 Monetary gold stock 7,923 + 4 +3,9^2 Treasury and National bank currency 2,390 +15 +110 Money in circulation 5.3^7 + k + 1+2 Member bank reserve balances 4,072 + 3 +1,640 Treasury cash and deposits with F.R. banks 2,972 - 4 +2,653 Nonmember deposits and other F.R.accounts U39 Sk — *Less than $500,000, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 24,1934; not earlier. B-g01a ASSETS AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMB IL-TED (In thousands of dollars) Aug. 22,1934 Aug. 15,1934 Aug. 23.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 14,963,361 4,961,374 951.607 Gold — — 2,601,596 Redemption fund - F. R. notes 24,034 24,313 36.277 Other cash 228,660 22kMS 243.577 Total reserves 5,216,055 5,210,143 3.833.057 Redemption fund - F. R. bank notes . . . 2,356 2,006 8,451 Bills discounted: Sec. by U.S.Government obligations . . 3.437 3.820 36,026 Other bills discounted 16.379 16.387 114,119 Total bills discounted 19,816 20,207 150,145 Bills bought in open market . . . . .. 5,ll4 5.198 7.350 Industrial advances 29s 214 U. S. Government securities: Bonds 467,565 467,499 442,903 Treasury notes 1,271,709 1,271,707 848,506 Certificates and bills 692,250 692,251 802,605 Total U.S.Government securities . 2,431,524 2,431,457 2,094,014 Other securities 428 428 1,854 Total bills and securities . . . . 2,457,180 2,457,504 2,253,363 Due from foreign banks 3,l4l 3.125 3.740 F. R. notes of other banks 16,727 16,703 18,667 Uncollected items 4o4,76l 470,989 349,018 Bank premises 52,775 52,77^ 54,454 All other assets 54.759 51,917 51,206 TOTAL ASSETS 8,207,734 8,265,161 6,571,956 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,105,028 3,102,373 2,984,978 F. R. bank note circulation - net . . . 32,303 32,651 129,296 Deposits: Member bank - reserve account . . .. 4,072,321 4,064,270 2,431,915 U.S.Treasurer - General account . . . >773 57.894 %»173 Foreign bank 9,513 8,l47 21,538 Other deposits 201,775 203.261 153,712 Total deposits 4,327,382 4,333,572 2,656,338 Deferred availability items 408,230 464,045 348.045 Capital paid in 146,514 146,423 146^137 Surplus . . 138,383 138,383 272,599 Reserve for contingencies 22,545 22,544 12,105 All other liabilities 27,349 25,170 l6,408 TOTAL LIABILITIES 8,207,734 8,265,161 6,571,956 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 70.2$ 70.1$ 67.9$ Contingent liability on bills purchased for foreign correspondents 528 642 39.096 Commitments to make industrial advances 345 80 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 22, 1934 A S S E TS (In thousands of dollars) B-SOlb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from TJ. S. Treasury ^,963,361 369,350 1,763,815 260,340 379,1+02 162,807 103,305 1,068,843 171,355 122,702 167,214 9 1,370 302,858 Redemption fund - F. R. notes 24,034 1,856 1,324 2,680 3,050 2,069 4,011 1,592 820 1,0•9 —1 - 887 471 4,183 Other cash 22S,660 19,550 55.306 36,674 12,706 g,089 13,108 3: 13,408 9,792 5,100 12,042 Total reserves 5,216,055 390,756 1,820,445 299,694 395,15s 172,965 120,424 1,102,267 183,228 137,201 1 77,893 96,941 319,083 Redemption fund - F.R.bank notes 2,336 250 2,086 — — — — — — — — Bills discounted: Secured by U.S.Govt, obligations> 3,437 70 1,583 730 218 116644 105 300 155 15 25 57 Other bills discounted 16,379 l4 10,318 4,351 283 495 150 8 30 214 138 240 13s Total bills discounted 19,816 84 11,901 5,081 501 659 255 308 185 229 153 265 195 Bills bought in open market 5,114 371 1,846 536 488 193 178 650 122 85 142 142 361 Industrial advances 29s — 4o 37 — 52 101 32 23 10 3 U.S. Government securities: Bonds 467,565 27,226 165,750 30,021 35.99S 17,502 15.940 76,079 16,165 17,418 16,972 20,389 28,105 Treasury notes 1,271,709 84,150 401,060 83,802 114,190 55,513 50,500 225,430 49 ,693 31,120 49,135 32,954 89,162 Certificates and bills 692,250 46,303 210,945 48,297 62,836 30,547 27.7S7 126,834 27,342 17,126 27,037 IS,132 49,064 Total U.S.Govt, securities 2,431,524 157,679 777.755 167,120 213,024 103,562 94,227 428,343 93,200 65,664 93,144 71,475 166,331 Other securities 428 — 35 393 Total bills and securities 2,457,180 158,134 791,577 173,167 214,013 104,4l4 94,712 429,402 93.539 66,001 93,449 71,885 166,887 Due from foreign banks 3.141 237 1,208 341 300 119 109 4i4 10 7 S7 S7 222 F. S. notes of other banks 16,727 382 3,284 750 1,015 1,896 1,006 3,065 1,670 506 1,147 342 1,664 Uncollected items 404,761 4i,5i4 101,612 31,703 39,996 35.729 12,123 54,762 17,206 12,430 24,071 15.235 IS,375 Batik premises 52,775 3,224 11,455 4,300 6,788 3.128 2,372 7,337 3,126 1,664 3,485 1,757 4,089 All other assets 54,759 692 39,008 4,956 1,43s 1.71S 2,240 1,250 242 1,110 470 996 639 TOTAL ASSETS 8,207,734 595,189 2,770,675 514,916 658,70s 319,969 232,986 1,593,547 299,021 218,919 300,602 187,243 510,959 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS 01 AUGUST 22, 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 3,105,02S 244,483 650,06s 246,121 3iU,602 144,746 131,460 771,039 133.524 102,588 112,862 1+3,213 210,262 F.R.bank note circulation - net 32,303 94s 31,355 Deposits: Member "bank - reserve account 4,072,321 279,203 1,706,743 197,284 263,560 124,650 71,675 719,599 118,434 86,623 151,31^ 113.916 238,720 U.S.Treasurer - General account ^3,773 3,319 21,282 1,167 2,922 1,700 2,175 5,065 2,936 657 ^77 1,760 313 Foreign bank 9,513 480 5,158 693 639 253 233 839 220 153 186 186 ^73 Other deposits 2,189 1,^36 3,^89 8,424 2,151 Total deposits 4,327,332 285,791 l,86o 4n 206,876 274,77s 128,039 77,572 729,819 137,328 95,857 155,459 118,013 257,439 r Deferred availability items 408,230 41,8.89 99,050 ^0,210 39. ^ 35,792 11,534 52,060 18,126 12,680 23,70s 16,888 20,879 Capital paid in 146,514 10,7>+l 59,509 15,195 12,962 4,98b 4,363 12,681 4,049 3,113 4,124 4,012 10,779 Surolus 138,383 9,610 45,217 13,352 14,090 5,171 5,1^5 20,681 4,756 3,^20 3,613 3,683 9,645 Reserve for contingencies 22,54'=; 1,053 ^,737 2,500 2,300 1,155 2,5S1 2,969 S53 1,026 619 1,133 1,619 All other liabilities 27,3^ 674 20,32s 662 562 80 331 3,29s 325 235 217 301 336 TOTAL LIABILITIES 8,207,734 595,189 2,770,675 514,916 658,70s 319,969 232,986 1,598,547 299,021 218,919 300,602 187,243 510,959 Ratio of total reserves to deposit ana F. R. note liabilities combined 70.2 73.7 72.5 66.2 67.0 63.4 57.6 73.4 67.6 69.I 66.3 60.1 68.2 Contingent liability on bills purchased for foreign correspondents 528 103 68 62 25 23 82 21 15 18 18 46 Commitments to make industrial advances 345 18 80 37 25 25 160 MATURITY DISTRIBUTION OF BILLS MD SHORT TEEM SECURITIES 91 days to To tal Wi thin 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 19,816 13,5^ 4,.8 5399 719 619 62 9 3ills bought 5,11^ 3,522 444 539 609 Industrial advances 298 3 3 9 106 177 692,250 23,022 120,26s 369,116 Certificates and bills 69,3^7 110,497 Municipal warrants 428 428 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON AUGUST 22, 1934 (in thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans„Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.Bank by F.R.Agent 3.393.650 272,196 752,378 264,272 329.229 154,043 152,306 802,846 138,935 107,287 119,137 48,787 252,232 Held by Federal Reserve bank 288,622 27,713 102,310 18,151 14,627 9.297 20,848 31,807 5.351 4,599 6,275 5.57^ ^1.970 In actual circulation 3,105,028 244,483 650,068 246,121 314,602 144,746 131,460 771,039 133,584 102,588 Collateral held by agent as security for notes issued to banlc: Gold certificates on hand and due from U.S.Treasury 3,131,656 276,117 753,706 221,000 282,431 120,340 86,385 809,513 123,936 96,000 111,290 50,175 200,763 Eligible paper 9,623 84 6,205 1.261 501 336 255 308 180 37 69 265 122 U.S. Govt, securities 289.500 43,000 50,000 35.000 70.000 16,000 11,500 10,000 — 54,000 Total collateral 3.^30.779 276,201 753.911 265,261 332,932 155,676 156,640 809,821 140,116 107,537 121,359 50,440 254,885 FEDERAL RESERVE BAM NOTE STATEMENT ON AUG-UST 22, 1934 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Frat Federal Reserve bank notes: Issued to F.R.bank(outstanding) 43,849 1,511 32,130 10,208 Held by Federal Reserve bank 11,546 563 775 10.208 In circulation - net* 32,303 9^8 31.355 Collateral pledged against outstanding notes: Discounted and purchased bills 49,^74 5.000 32,474 12,000 U. S. Govt, securities ^9.^74 5,000 32,474 12,000 Total collateral •Does not include $98,369,000 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