H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, August 31; Federal Reserve Board not earlier. August 30, I93U. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 29, as reported by the Federal Reserve "banks, was $2,^61,000,000, a decrease of $3,000,000 compared with the preceding week and an increase of $19^,000,000 compared with the corresponding week in 1933• On August 29 total Reserve-"bank credit amounted to $2,^63,000,000, an increase of $6,000,000 for the v/eek. This increase corresponds with an increase of in member bank reserve balances and a decrease of $2,000,000 in monetary gold stock, offset in part "by decreases of $23,000,000 in Treasury cash and deposits with Federal Reserve banks, $9,000,000 in nonmember deposits and other Federal Reserve accounts and. $2,000,000 in money in circulation and an increase of $13,000,000 in Treasury and National bank currency. The System's holdings of bills and securities remained practically unchanged, an increase of $9,000,000 in holdings of United States Treasury notes being 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 29, 193^, were as follows: Increase or decrease since Aug. 29 Aug. 22 -Aug. 30 (in millions of dollars) 21 -132 Bills discounted + l — p Bills bought 5 -- +303 U. S. Government securities 2,^32 — + 5 Other Reserve bank credit R + 6 +165 TOTAL RESERVE BANK CREDIT 2-M3 Monetary gold stock 7.3S1 - 2 +3,940 2,403 +13 +122 Treasury and National bank currency - 2 Money in circulation .5,3^5 +ko +55 +1,700 Member bank reserve balances U.127 +2,605 Treasury cash and deposits with F.R.banks -23 H30 Nonmember-deposits a,nd other F.R.accounts - 9 -119 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publicotion Friday morning, August 31.193i; earlier. B-801a ASSETS AKD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Aug. 29,195*+ Aug, 22,1934 Aug. 30,1933 A S S E TS Gold certifica.tes on hand and due from 4,979,432 4,963,361 950,940 Gold 2,601,424 — Redemption fund - F. R, notes 24,293 24,034 35,633 Other cash 235.917 223,660 Total reserves 5,239,692 5,216,055 3,327,930 Redemption fund - F. R. bank notes . . . 2,112 2,336 3,200 Bills disco-anted: Sec. by U.S.Government obligations . . M!i6 3,437 33,217 115,003 Other bills discounted lSj;6i ILlza 21,007 19,816 153,220 Total bills discounted . . .. 6,900 Bills bought in open market 5,247 5,114 29 Industrial advances 810 s — U. S. Government securities: Bonds 467,339 ^•67,565 441,637 Treasury notes 1,2S 1/420 1,271,709 860,945 Certificates and bills 632^41 692,250 826,140 Total U.S.Government securities 2,431,802 2,431,524 2,128,772 Other securities _19l 423 1,354 Total bills and sec\irities . . 2,459,257 2,457,130 2,290,746 Dae from foreign banks 3,127 3,141 3,710 F. R. notes of other banks 17,334 16,727 14,916 Uncollected items 401,225 404,761 343,469 Bank premises 52,775 54,455 52,775 All other assets 5b,324 54,759 52,013 TOTAL ASSETS 8,232,346 3,207,734 6,595,439 L I A B I L I T I ES F.R. notes in actual circulation . . .. 3,103,239 3,105,02s 2,974,180 F.R.bank note circulation - net . . .. 31,933 32,303 131,244 Deposits:- Member bank - reserve account . . .. 4,126,973 4,072,321 2,426,539 U.S, Treasurer - General account . . . 29,936 43,773 67,933 Foreign bank 11,23s 9,513 39,732 192,636 Other deposits 201,775 162,680 Total deposits 4,360,333 4,327,332 2,697,039 Deferred availability items Hoo.soo 403,230 339,604 Capital paid in 146,529 146,514 146,147 133,333 133,333 273,593 Reserve for contingencies 22,545 22,545 12,105 All other liabilities 23,534 27,349 lo,521 TOTAL LIABILITIES 3,232,346 S-, 207,734 6,595,439 Ratio of total reserves to deposit and F. R. note liabilities combined . . , 70.2$ 70.2$ 67.5$ Contingent liability on bills purchased for foreign correspondents 573 52S 39,099 Commitments to make industrial advances 3U5 357 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BAEKS OK AUGUST 29, 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 U. S. Treasury 4,979,^2 363,770 l,77l.7H 252,75^ 376,471 163,463 100,637 1,099,0^0 170,559 125,526 166,1+51 92,749 296,351 Redemption f-und - F. R. notes 24,293 1,825 1,187 3,llS 3,007 2,216 3,986 1,51*0 SOS 1.0S5 SSI 1+6S 1+.172 Other cash 235,917 19.36U 58,000 36,711+ 13,103 8,659 13,571 33,958 Total reserves 5,239,692 38!+,959 1,830,39s 292,586 392,581 17^,338 118,191+ 1,134,53s 182,019 l4o,o47 173,01+1 98,133 313,358 Redemption fund - F.R.bank notes 2,112 250 1,862 — — — — — — — — Bills discounted: Secured by U.S.Govt, obligations 44,,ii4466 185 11,,663366 833 275 192 110 730 90 15 15 15 50 Other bills discounted 16,861 22 10,783 ^,332 368 489 183 S 20 182 137 197 135 Total bills discounted 21,007 207 12,1+21+ 5,165 61+3 681 293 738 110 197 152 212 I85 Bills bought in open market 5,21+7 371 1,979 536 1+83 193 178 650 122 85 142 142 361 Industrial advances 810 — 1+6 117 25 — 202 101 4o 206 70 3 U.S. Government securities: Bonds 11++6677,,883399 2277,,222266 116655,,77^^99 30,022 35,999 17,500 15,952 7766,,008800 16,166 17,378 17,272 20,390 28,105 Treasury notes 1,281,1+20 81+.695 405,332 39,370 114,929 55,873 50,827 226,698 50,013 31.325 49,453 33,166 89,739 Certificates and bills 682,51+3 ^5,758 206,674 1+7,728 62,097 30,189 27,1+60 125,565 27,021 16,926 26,719 17,919 48,487 Total U.S.Govt, securities 2,1+31,802 157,679 777,755 167,120 213.025 103,562 94,239 428,343 93,200 65,629 93,444 71,475 166,331 Other securities 391 — 35 356 — — — — — — — — — Total bills and securities 2,1+59,257 158,257 792,239 173,29^ 211+.181 104,1+36 9^,912 429,832 93,^72 66,117 93,808 71,832 166,877 Due from foreign banks 3,127 236 1,195 31+1 300 119 109 4i4 10 7 87 87 222 F. R. notes of other banks 17,831+ 399 i+,590 721 891 1,1+1+9 818 3,510 1,203 725 1,3^7 270 1,911 Uncollected items 1+01,225 38,636 105,693 29,807 37,815 34,229 11,432 53,556 17,289 11,887 24,320 19,906 16,655 Bank premises 52,775 3,224 11,^55 1+.300 6,788 3,128 2,372 7,387 3,126 1,664 3,485 1,757 4,089 All other assets 56,824 667 1+1,228 4,887 1,^93 1,692 2,238 1,214 229 1*111 453 999 613 TOTAL ASSETS 8,232,81+6 586,628 2,789,160 505,936 65MI+9 319,391 230,075 1,630,1+51 297,3^8 221,558 301,5^1 192,981+ 503,725 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 29, I93I+ 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 3,103,239 21+3,886 61+8,705 21+5,593 31^13 1^6,977 129,615 772,1+57 132,660 102,921 112,1+56 1+3,888 209,718 F.R.bank note circulation - net 31,933 1,057 30,876 — Deposits: Member "bank - reserve account 4,126,973 276,290 1,7*+2,367 191,631+ 263,275 120,73U 71,253 752,970 120,018 89,926 150,801+ lli+,176 233,526 U.S .Treasurer - General account 29.936 2,207 3,U29 1,770 2,952 1+.92U 2,57^ 5,123 1,1+60 28l+ 2,51+6 1,^35 1,232 Foreign bank 11,238 479 6,882 693 639 253 233 839 220 .153 187 187 )+73 Other deposits 192 t Go6 2.067 125,591 6,098 5,650 1,233 2,777 3,57^ 15,129 8,155 2,561+ 2,31+6 17,502 Total deposits *+,360,833 281,01+3 1,878,269 200,195 272,516 127,1^ 76,837 762,506 136,827 98,518 156,101 118,11+1+ 252,733 Deferred availability items U00 ; 800 38,538 100,71+1 28,1+33 37,13^ 33,881+ 11,169 55,698 17,770 12,31+1+ 2*+, 396 21,820 18,873 Capital paid in 1I+6.529 10,738 59,509 15,200 12,961+ i+,986 4,369 12,681+ i+,oi+9 3,116 l+,12l+ 1+,012 10,778 Surplus 13S,383 9,610 1+5,217 13,352 ii+,090 5,171 5,11+5 20,681 4,756 3,^20 3.613 3,683 9,61+5 Reserve for contingencies 22,5^+5 1,053 *+,737 2,500 2,300 1,155 2,581 2,969 S53 1,026 619 1,133 1,619 All other liabilities 28 > 5314 703 21,106 663 632 7^ 359 3,1+56 ^33 213 232 301+ 359 TOTAL LIABILITIES 8,232,81+6 586,628 2,789,160 505,936 65MI+9 319,391 230,075 1,630,1+51 297,31+8 221,55s 301,5^1 l92»9Si+ 503,725 Ratio of total reserves to deposit and F. R. note liabilities combined JO.2 73.3 72.5 65.6 66.9 63.6 57.3 73.9 67.5 69.5 66.3 60.6 67.8 Contingent liability on bills purchased for foreifii correspondents 573 1+7 148 68 62 25 23 82 21 15 18 18 1+6 Commitments to make industrial advances 357 18 80 37 25 37 — 160 MATURITY DISTRIBUTION OF BILLS AUD SEORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 21,007 17,667 1,581+ 811 8&1+ 55 6 Bills bought 5,2l+7 3,59^ H56 7I+I I+56 Industrial advances 810 2 5 10 137 656 Certificates and bills 682,51+3 1+3,600 5^,523 10l+,325 110,815 369,280 *uniciT>al warrants 331 391 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL HBSEHVE HOTS STATEMENT ON AUGUST 29, 1934 (In thousands of dollars) 3-S01d Total Boston lTe^r York phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Zans.Cy. Dallas San Fran, Federal He serve notes: Issued to F.H.bari-i by F.R.Agent 3,^32,H99 271,792 7^7,676 263,282 329t232 155.761 I5itl79 8OS,020 137.99S 107,067 118,443 49,117 252,932 Held by Federal Reserve ba-ik 2G9.210 27,306 9S.S71 17,689 1*4,819 6,784 21,56^ 35,563 5,338 4,l46 5,927 5.229 ^3,214 In actual circulation 3,103,239 243,386 648,705 245,593 3l'4,Ul3 146,977 129,615 772,457 132,660 102,521 112/456 43,888 209,718 Collateral held by agent as security for notes issued to bear?:: Gold certificates on hand and due froin U.S.Treasury 3,130,656 276,117 753f706 212,000 282,4pl 121,340 81,335 819,513 122,936 99,000 111,290 50,175 200,763 Eligible prper 105665 20( 6,572 1,337 643 35S 293 73s 105 37 71 212 112 50,000 50,000 35,000 72,000 16,000 9,000 10,000 -- 54,000 U.S. Govt. securities 296,000 — Total collateral 3.437.341 276,32^ 760,278 263,337 333,074 156,69s 153,678 820,251 139.041 108,037 121,361 50,387 254,875 FEDERAL RESERVE BAeTK 1T0TS S^TEIiMT OH AUGUST 29, 1934 (In thousands of dollars) Total Boston Hew York Phila. CI eve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Jr.an. Federal He serve banl: notes: Issued to F .3 .bankC outstanding) '43,125 1,511 31,406 10,208 ~ 11,192 454 53O 10,208 -- — ~ ~ -- Held by Federal Reserve bank In circulation - net* 31.933 1.057 30,576 Collateral pledged against out s t andin^ no te s: Discounted and purchased bills 5.000 31,474 12,000 — V. S. Govt. securities 48,4/4 ..5,000 31,474 12,000 — Total collateral •Does not include $96,976,000 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