H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released, for -publication B-SOl Friday morning, Sept. 7; Federal Reserve Board not earlier. September 6, 193^*» CONDITION OF FEDERAL RESERVE BAKES The daily average volume of Federal Reserve bank credit outstanding during the week ended September 5> as reported by the Federal Reserve banks, was $2,5+70 ,000,000, an increase of $9,000,000 compared with the preceding week and of $106,000,000 compared with the corresponding week in 1933• On September 5 total Reserve bank credit amounted to $2,467,000,000, an increase of $4,000,000 for the week. This increase corresponds with increases of $7^,000,000 in money in circulation and of $1^3,000,000 in Treasury cash and deposits with Federal Reserve banks and a decrease of $13,000,000 in monetary gold stock, offset impart by decreases of $220,000,000 in member bank reserve balances and $2,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $9,000,000 in Treasury and National bank currency. The System's holdings of bills discounted increased $3,000,000 while holdings of bills bought in open market and of United States bonds remained practically unchanged. An increase of $12,000,000 in holdings of United States Treasury notes was offset by a decrease dri 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 September 5> 193^» were as follows: Increase or decrea.se since Sept. 5 Aug. 29 Sent. 1 193H 19 3U 1933 (In millions of dollars) Bills di's conn ted 2k + 3 -121 Bills bought 5 - 2 U. S. Government securities 22,,^^3322 — +266 Other Reserve bank credit 66 + l - 6 TOTAL RESERVE BANK CREDIT 2,^67 + k +137 Monetary gold stock 7,963 -is +3,921 -s=nd Jfetional barfs currency * 9 +I32 Money in circulation 5,419 +7U +5S Member bank reserve balances 3,907 -220 Treasury cash and deposits with F.R.banks 3,087 +143 +2,760 Nonmerriber deposits and other F.R.accoimts k28 - 2 -96 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 7,1934;not earlier. B-SOla ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BATTCS COMBINED (In thousands of dollars) Sept. 5,1234 A ._2j i93if ^^6,1933 m > A S S E TS Gold certificates on hand and due from U. S. Treasury ^,960,078 4,979.432 952,155 Gold 2,600,313 — Redemption fund - F. R. notes . . . . 23,839 24,293 35,913 Other cash . . . 235,917 221,136 Total reserves 5,l'33,oso 5.239,692 3,309,517 Redemption fund - F. R. "bank notes . . 1.898 2,112 3,224 Bills discounted: Sec, by U.S .Government obligations . 6,180 4,146 37.704 Other bills discoimted . 17,457 16,861 107,039 Total bills discounted 23,637 21,007 144,793 Bills bought in open market 5.219 5,247 6.974 Industrial advances 992222 310 — U. S. Government securities: Bonds . . .. 467,848 467,839 441,935 Treasury notes • 1,303,369 1,281,420 374,846 Certificates and bills 660,592 632,543 849,540 Total U.S.Government securities 2,431,809 2,431,802 2,166,371 Other securities 356 391 1,939 Total bills and securities . . 2.461,943 2,459.257 2.320,077 Due from foreign banks . 3,127 3.127 3.713 F. R. notes of other banks . . . • . 17,539 17.834 15,290 Uncollected items 436,531 401,225 376,616 Bank premises • 52,803 52.775 54,541 All other assets . . .. 66,582 56.824 52,952 TOTAL ASSETS . . . . . .. s.233.503 8,232,346 6,640,930 L I A B I L I T I ES F. R. notes in actual circulation . . 3.149.659 3,103.289 3,010,949 F.R.bank note circulation - net . . . 31,432 31,933 132,687 Deposits: Member bank - reserve account . . . 3.907,169 44,,112266,,997733 22..443399..339933 U.S. Treasurer - General account . 162,933 29,936 55.695 Foreign bank . 11,710 11,23s 32,033 Other deposits 191,130 192,636 145.924 Total deposits . 4,273,047 4,360,333 2,673,045 Deferred availability items . . .. 434,944 400,300 370,531 Capital paid in 146,554 146,529 146,030 Surplus 138.383 138,333 273,599 Reserve for contingencies . . . .. 22,453 22,545 12,105 All other liabilities . . . . . .. 37,031 28,534 16,934 TOTAL LIABILITIES 8.233,503 3,232,346 6,640,930 Ratio of total reserves to deposit and F. R. note liabilities combined . 70.0$ 7700..22$$ 6677..00$$ Contingent liability on bills purchased for foreign correspondents . . . 579 573 HHii,,440022 Commitments to make industrial advances 491 357 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES 03ST SEPTEMBER 5, I93U A S S E TS (in thousands of do3.la.rs) B-S01b Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Sold certificates on hand and due from U. S. Treasury 4,960,078 371,656 1,678,^93 261,320 379,126 17^,392 107,457 1,101,712 17S,524 132,229 173,359 95,603 306,137 Redemption fund - P. R. notes 23,889 1,814 1,084 3,091 2,95^ 2,208 3,970 1,489 772 1,079 847 4,125 Other cash 209,113 16,966 52,744 35,172 12,l4p 6,992 11.327 ^0«gl6 7,818 11.444 7«84l 4,979 10.874 Total reserves 5,193,080 390,436 1,732,326 299,523 39^,220 183,592 122,75^ 1,13^.017 127,17^ 1^,752 182,047 101,043 321,136 Redemption fund - F.R.bank notes 1,89s 250 1,648 — — — — — — — — — — Bills discounted: Secured by U.S.Govt, obligations 6,180 1,325 2,499 835 104 221 70 765 120 165 , , , 26 50 Other bills discoimted 17,457 29 11,540 4,436 254 473 io4 8 38 _ 13jL i4i 163 132 Total bills discounted 23,637 1,354 14,039 5,271 358 694 174 773 158 304 l4i 189 182 Bills bought in open market 5,219 371 1,952 536 4s 7 193 17c 650 122 ^85 142 142 361 Industrial advances 922 3 81 12s 58 — 221 101 4o 207 70 13 TJ.S.Government securities: Bonds 467,848 27,226 165,7^9 30,022 35.9SS 17,501 16,004 76,080 16,165 17,337 17,272 20,389 28,105 Treasury notes 1,303,369 86,243 411,807 90,937 117,033 56,896 51,761 230,30s 50,929 31,894 50,357 33,773 91,381 Certificates and bills 660,592 44,209 200,199 46,111 59,993 29,166 26,529 121,955 26,106 16,351 25,815 IZ,113 46,845 Total U.S.Goyt. securities 2,431,209 157,67s 777,755 167,120 213,024 103,563 94,294 428,343 93,200 65,582 93,444 71,475 166,331 356 Other securities — — 356 — — — — — — — Total bills and securities 2,1*61,943 159,406 793,227 173,411 213,927 104,450 94,867 429,867 93,520 66,178 93,797 71,819 166,874 Due from foreign banks 3,127 237 1,193 342 300 119 109 4l4 10 7 87 87 222 I\ R. notes of other banks 17,539 312 4,S4i 561 1,159 997 753 3,497 1,037 827 1,201 272 2,282 Uncollected items >136,531 42,216 98,074 31,424 40,337 42,983 15,188 58,825 20,251 15,475 29,068 19,742 22,348 Bank premises 52,803 3,224 11,468 4,315 6,788 3,128 2,372 7,387 3,126 1,664 3,485 1,757 4,089 All other assets 65,532 6o4 51,122 4,916 1,509 1,692 2,064 1,269 234 1,065 459 1,020 628 TOTAL ASSETS 2,233,503 597,285 2,694,299 51^,552 658,240 336,961 238,107 1,635,276 305,352 229,968 310,144 195,7^0 517,579 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 5, 1934 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,1^9.659 2^9,09U 66l,4S5 2^+5,679 31o,o20 lnl,317 130,63U 777,069 13M33 105,1+19 114,395 1+7,559 215,055 F.R.bank note circulation - net 31,432 903 30,529 — Deposits: Member "bank - reserve account 3,907,169 266,520 1,523,595 189,030 246,224 126,609 72,259 730,550 114,1+78 90,204 151,593 111,061 225,046 U.S.Treasurer - General account 162,988 13,676 53,505 10,112 19,1+20 4,111 5,588 23,281 6,421 1,682 3,711 4,911 16,570 Foreign bank: 11,710 835 4,121 1,207 l,Il4 44l 4o6 1,462 383 267 325 325 824 Other deposits Total deposits 4,273,047 282,822 1,766,778 205,91b 271,834 132,954 80,738 758,060 140,089 100,527 157,808 118,:592 256,929 Deferred availability items 434,944 42,360 96,7^5 31,024 39,831 41,272 1^,39^ 60,160 20,894 15,238 29,356 20,475 23,195 Capital paid in 146,554 10,747 59,51s 15,200 12,96b 4,986 4,369 12,695 4,051 3,116 4,128 4,002 10,776 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 22,453 1,053 ^,737 2,500 2,300 1,155 2,489 2,969 853 1,026 619 1,133 1,619 All other liabilities 37,031 696 29,290 881 599 106 338 3,642 376 222 225 296 ^60 TOTAL LIABILITIES 8,233,503 597,285 2,694,299 51^,552 658,240 336,961 238,107 1,635,276 305,352 229,968 310,144 195,740 517,579 Ratio of total reserves to deposit and F. S. note liabilities combined 70.0 73.*+ 71.3 66.3 67.0 64.6 58.1 73.9 68.2 69.9 66.9 60.8 68.0 Contingent liability on bills purchased for foreign correspondents 579 3^ 231 55 51 20 19 67 18 12 15 15 38 Commitments to make industrial advances 491 35 15 7 80 37 25 132 160 MATURITY DISTRIBUTION OF BILLS AMD 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 23,637 21,320 725 676 864 9 Bills bought 5,219 406 192 7b5 3,856 Industrial advances 922 3 1 9 59 97 753 Certificates and bills 660,592 23,022 64,515 112,310 69,815 390,930 Municipal warrants 356 356 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERA.L RESERVE 1T0TE STATEMENT 0N SEPTEMBER 5, I93U (in thousands of dollars) B-SOld Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. ederal Reserve notes: Issued to F.R.barJk by IT .R. Agent 3,HI6,357 273,664 755.363 261,160 331,205 159,991 149,289 810,649 138,808 109,654 120,370 52,621 253,583 Held by Federal Reserve 'bank 266,698 24,570 93,87s 15,481 14,585 8,671+ 18,655 33,580 4,475 3.235 5.975 5.062 38,528 In actual circulation 3,149,659 249,094. 661,485 245,679 316,620 151,317 130,634 777.069 13^,333 106,419 114,395 47,559 215,055 bilateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U.S.Treasury 3,145,156 276,117 753,706 212,000 282,431 123,340 81,385 819,513 124,936 102,000 113,290 52,675 200,763 Eligible paper 13,120 1,354 7,960 1,477 35s 372 139 773 153 179 62 184 109 U.S. Govt, securities 296,000 — 50,000 50,000 35,000 72,000 15,000 9,000 10,000 1,000 54,000 Total collateral 3,454,276 277,471 761,666 263,477 332,789 161,712 153,524 820,286 140,089 111,179 123,352 53.259 254,872 FEDERAL RESERVE BANK NOTE STA.TEI.tEHT OH SEPTEMBER 5, 1934 (in thousands of dollars) Total Boston llew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. "ederal He serve bank notes: Issued to J. R.bank( outstanding) 42,911 1,511 31,192 10,208 — Held by Federal Reserve "bank 11,479 608 663 10,208 — — In circulation - net* 31,432 903 30,529 Collateral pledged against outstanding notes: Discounted and purchased bills 48.474 5.Q00 31.474 12.000 U. S. Govt, securities 48,474 5,000 31,474 12,000 Total collateral 'Does not include $95»601,000 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