H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication 3-801 Friday morning, Sept. 21; Federal Reserve Board not earlier. September 20, I93U. COED IT ION OF FEDERAL RESERVE BAFE3 The daily average volume of Federal Reserve bank credit outstanding during the week ended September 19, as reported by the Federal Reserve banks, was $2,^73,000,000 an increase of $U,000,000 compared with the preceding week and of $109^000,000 compared with the -Corresponding week in 1933* On September 19 total Reserve bank credit amounted to $2,^66,600,000, a decrease of $3,000,000 for the week. This decrease corresponds with decreases of $59,000 ,000 in member bank reserve balances and $12,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of ,000,000 in monetary gold stock, offset in part by increases of $66,000,000 in Treasury cash and deposits with Federal Reserve banks and $3,000,000 in money in circulation and a decrease of $2,000,000 in Treasury and National bank currency. The System1 s holdings of bills discounted and bills bought in open market remained practically "unchanged. An increase of $97,000,000 in holdings of United States Treasury notes was offset by decreases of $70,000,000 in holdings of United States bonds and $27,000,000 in Treasury certificates and bills. Changes in the amo-unt of Reserve bank credit outstanding and in related items during the week and the year ended September 19, 193^, were as follows: Increase or decrease since Sept. 19 Sept. 12 Sept. 20 19 193^ 1933 (In millions of dollars) Bills discounted 22 - l -10s Bills bought 5 __ - 2 U. S. Government securities 2,431 +193 — Other Reserve bank credit s - 2 - 5 TOTAL RESERVE BAM CREDIT 2,466 - 3 + 72 Monetary gold stock 7,972 + 4 +3,932 Treasury and National bank currency 2,4-12 - 2 +132 Money in circulation 5.412 + ^ +94 Member bank reserve balances 3,SS9 -59 +1,346 Treasury cash and deposits with F.R.baaks 3,124 +66 +2,790 Nonmember deposits and other F.R.accounts 425 -12 -87 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 21;1934; not earlier. B-SOla ASSETS AND LIABILITIES OF THE TTCELVED FEDERAL RESERVE BATIKS C0M3IHED (In thousands of dollars) Sept. 19.1934 Sept. 12.195** Sept. 20.1933 A S S E T S' Gold certificates on hand and due from U. S. Treasury 4,957,624 4,960,996 955,529 Gold — 2,599,275 36,162 Redemption fund - F. R. notes 23.582 23,043 Other cash 229,733 228.314 230.835 Total reserves 5,210,739 5,212,353 3,821,801 Redemption fund - F. R. bank notes . . 1,995 2,226 8,528 Bills discounted: Sec. by U.S.Government obligations . 5,357 5,624 27,092 Other bills discounted 16.6OS 17,716 103,069 Total bills discounted . . .. 21,965 23,340 130,161 Bills bought in open market 5,202 5,202 6,932 Industrial advances . 1,494 1,281 -- U.S. Government securities: Bonds 396,643 467,343 441,396 Treasury notes . 1,421,710 1,324,622 934,624 Certificates and bills 612,369 639,341 861,760 Total U.S.Government securities 2,430,722 2,431,306 2,237,720 Other securities 356 356 1,789 Total bills and securities . . . 2,459,739 2,461,485 2,376,662 Dae from foreign banks 2,426 3,126 3,909 F. R. notes of other banks 22,735 19,700 19,799 Uncollected items . . 4s6,94o 458,386 435,845 Bank premises 52,821 52,820 54,551 All other assets 52,937 57,121 54,112 TOTAL ASSETS 8,290,332 8,267,217 6,775,207 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,146,596 3,148,449 2,986,781 F. R. bank note circulation - net . . . 30,633 31,127 113377,,117700 Deposits: Member bank-reserve account 33,,888899,,336655 3,948,304 2,543,328 U. S. Treasurer - General account . . 210,462 138,729 59,123 io,57S 12,028 16,174 Other deposits 184,524 200,998 147.997 Total deposits . 4,294,929 4,300,059 2,766,622 Deferred availability items 482,972 453,515 428,340 Capital paid in . 146,671 146,663 145,858 Surplus . . . . . . . . . . . . . . .. 138,383 138,383 278,599 Reserve for contingencies . . 22,447 22,447 12405 All other liabilities 27.701 26,57^ 19,732 TOTAL LIABILITIES 2,290,332 8,267,217 6,775,207 Ratio of total reserves to deposit and F. R. note liabilities combined . . . llOO..OOffoo 7700..00$$ 66.4$ Contingent liability on bills purchased for foreign correspondents 599 647 46,701 Commitments to make industrial advances 686 681 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A2JD LIABILITIES OP THE FEDERAL RESERVE BAKIS OH SEPTEMBER 19, I93I+ A S S E TS (In thousands of dollars) B-801b 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 !+,957,62i+ 350,1+20 1,719,1+69 259,127 377.891 192.758 102,01+3 1,069,650 180,091+ 131,211+ 171,3^0 101+.551+ 299,061+ Redemption fund - F. R. notes 23,382 1,696 1,833 2,991 2,788 1,980 3,707 1,303 728 1,020 802 1+1+1 1+.093 Other cash 229,733 19,731 56,527 36,1+88 12,232 8,893 13,059 3M73 8,1+07 11,917 8,668 6,11+9 13,1+89 Total reserves 5,210,739 371»Sl+7 1,777,829 298,606 392,911 203,631 118,809 1,105,126 189,229 ll+l+,151 180,810 111,11+1+ 316,61+6 Redemption fund - F.R.bank notes 1,995 250 1,71+5 — Bills discounted: Secured by U.S.Govt, obligations 5,357 735 2,623 1,207 59 237 10 150 100 165 16 30 Other bills discounted 16,608 13 11,009 1+,081 258 502 166 60 122 12^ 118 155 Total bills discounted 21,965 71+8 13,632 5,288 317 739 176 150 160 287 ll+9 I3I+ 185 Bills bought in open market 5,202 371 1.93^ 536 1+88 193 178 650 122 85 ll+2 ll+2 361 Industrial advances 1,1+91+ 3 125 135 85 80 297 101 192 339 93 1+1+ U.S.Government securities: Bonds 396,61+3 23,215 11+0,958 25.139 30.557 1^,855 13,520 62,11+2 13.797 " 15/852 13,931 18,820 23,857 Treasury notes J, 1+21,710 93,623 1+51,177 99,381+ 127,01+7 61,763 56,185 252,093 55,287 3I+/623 5l+,666 36,662 99,200 Certificates and bills 612,369 1+0,81+0 185,620 1+2,597 55,1+20 26,91+U 2i+,507 lll+,108 2i+,ll6 15,103 23,81+7 15,993 1+3,27^ Total U.S.Govt, securities 2,1+30,722 157,67s 777,755 167,120 213,021+ 103,562 911,212 1+28,31+3 93,200 65,57s 92,1+1+1+ 71,1175 166,331 Other securities 356 - Total bills and securities 2,1+59,739 15s,800 793,1+1+6 173,^35 213,91^ lQl+,571* 9M63 1+29,21+U 93,67!+ '66,289 92,828 71,795 166,877 Due from foreign banks 2,1+26 183 922 265 233 92 85 321 10 7 68 68 172 F. R. notes of other banks 22,735 336 7,711+ 708 1,000 1,1+71+ 1,108 3,800 1,351 1,377 1,^63 309 2.095 Uncollected items 1+86,91+0 1+9,706 119,521+ 37,91^ 1+3,31+0 1+3,862 1M95 68,213 21,673 •15,171 28,377 20,53l+ 2l+,53l Bank premises 52,821 3,22!+ 11,1+68 1+.333 6,788 3,12s 2,372 7.3S7 3,126- 1,661+ 3,1+85 1,757 l+,089 All other assets 52,937 608 37,61+6 5,039 1,^2 1,669 2,pi+7 1,288 236 937 l+l+l 930 60!+ TOTAL ASSETS 8,290,332 58i+,95i+ 2,750,291+ 520,300 659,628 358,1+30 233,379 1,615,379 309,299 229,61+6 307,^72 206,537 515,011+ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS A1ID LIABILITIES OF THE FEDERAL RESERVE BAKES OK SEPTEMBER 19, I93U L I A B I L I T I ES (In thousands of dollars) B-gOlc Total Boston STew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans ,Cy. Dallas San Fran. F.R.notes in actual circulation 3,1/46,596 260,663 651,31S 2^3,555 312,737 157,^32 129,322 773,799 135,^39 106,164 114,295 ^9,718 212„154 F.R .bank note circulation - net 30,633 882 29,751 Deposits: Member "bank - reserve account 3.gs9»365 2^3,837 1,581,110 191,570 258,287 136,085 70,030 693,088 121,3HO 90,216 151,01+8 119,^27 232,727 U.S .Treasurer - G-eneral account 210,1+62 5,31^ 121,817 7,956 3,63k S,5>+3 2,904 37,597 k,Jll 1,133 1,956 2,801 6,036 Foreign bank 10,578 836 2,983 1,207 1,114 kUl 406 1,1+62 383 267 325 325 824 Other deposits 184,524 1,717 120/459 5,4s4 5,189 1,626 4,020 2,666 15,262 3,080 1,525 15,900 Total de-posits H,294,929 251,70U 1,826,374 206,217 274,284 146,695 77,360 73*+, 813 141,696 99,812 156,409 124,078 255,487 Deferred availability items 1+82,972 ^9,531 113,901 38,51'+ '42,598 ^2,733 14,319 66,720 22,161 15,773 28,171 23,627 24,924 Capital paid in 11+6,671 10,761 59,576 15,211 12,968 4,994 4,370 12,715 4,053 3,114 4,131 4,002 10,776 Surplus 138,383 9,510 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 22,447 1,053 737 2,500 2,100 1,155 2,485 2,969 851 1,026 619 1,133 1-&9 All other liabilities 27,701 750 19,420 951 651 250 211 337 234 296 409 TOTAL LIABILITIES 8,290,332 584,954 2,750,294 520,300 659,62s 358,^30 233,379 1.615.379 309,299 229,646 307,472 206,537 515,014 Ratio of total reserves to deposit and F. R. note liabilities combined 70.0 7722..66 71.8 66.4 66.9 67.0 >7.5 73.3 68.3 70.0 56.8 64.0 67.7 Contingent liability on bills purchased for foreign correspondents 599 38 251 55 51 20 19 67 is 12 15 15 38 Commitments to make industrial advances 686 110 15 105 37 115 132 172 MATURITY DISTRIBUTION OF BILLS AND SHORT 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 21,965 15,090 990 671 5,180 28 6 Bills bought 5,202 300 4,288 392 Industrial advances 1,494 15 20 25 79 224 1,131 Certificates and bills bl2,369 48,515 43,982 75,568 189,169 240,135 15,000 Municipal warrants 356 356 ' Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON SEPTEMBER 19, 1934 (in thousands of dollars) B-SOld Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: 754,988 261,694 328,405 166,218 149,518 804,847 I4I,407 110,259 120,402 54,837 256,496 Issued to F.R.bank by F.R.agent 3,435,055 285,934 Held "by Federal Reserve "bank 288,1*59 25 >321 103,670 18,139 15,668 8,786 20,196 31,048 5,968 4,095 6,107 5,119 44,342 In actual circulation 3,146,596 260,663 651,31s 243,555 312,737 157,432 129,322 773,799 135,439 106,164 114,295 49,71S 212,154 Collateral held "by agent as security for notes issued to "bank Gold certificates on hand and due from U. S Treasury 3,1S7,4I6 278,617 763,706 212,500 282,431 i4o,34O 81,385 819,513 128,936 105,000 113,550 55,675 205,763 # Eligible paper 11,788 748 7,77S 1,609 317 395 150 150 154 168 73 133 113 292,300 10,000 50,000 50,000 27,000 72,000 13.000 6,300 10,000 — 54,000 U.S.&ovt. securities Total collateral 3,491,504 289,365 771,484 264,109 332,748 167,735 153,535 819,663 142,090 111,468 123,623 55,808 259,876 FEDERAL RESERVE BANK NOTE STATEMENT 01T SEPTEMBER 19, 1934 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.L uis Minn. Kans.Cy. Dallas San Fran, 0 Federal Reserve bank notes: Issued to F.R.bank(outstanding) 42,508 1,511 30,789 10,208 Held by Federal Reserve bank: 11,875 629 1,038 10,208 In circulation - net* 30,633 882 29,751 Collateral pledged against outstanding notes: Discounted and purchased bills 48,474 5,000 31,474 12,000 U. S. Govt, securities 48,474 5,000 31,474 12,000 -- Total collateral •Soes not include $93,173,000 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