H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Sept 28; Federal Reserve Board # not earlier* September 27, 193^» common of federal reserve banks The daily average voltime of Federal Reserve "bank credit outstanding during the week ended September 26, as reported by the Federal Reserve banks, was $2,^,000,000, a decrease of $9,000,000 compared with the preceding week and an increase of $72,000,000 compared with the corresponding week in 1933® On September 26 total Reserve bank credit amounted to $2,463,000,000, a decrease of $3,000,000 for the week. This decrease corresponds with decreases of $63,000,000 in Treasury cash and deposits with Federal Reserve banks, $9,000,000 in money im circulation, and $10,000,000 in nonmember deposits and other Federal Reserve accounts and an increase of $U,000,000 in monetary gold stock, offset in part by an increase of $21,000,000 in member bank reserve balances and a decrease of $3,000,000 in Treasury and National bank currency. Bills discounted decreased $2,000,000 at the Federal Reserve Bank of New York and at all Federal Reserve banks. There was practically no change in holdings of bills bought in open market and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended September 26, 193^1 were as follows: Increase or decrease since Sept. 26 Sept. 19 Sept. 2J 193U 195^ 19^3 (In millions of dollars) Bills discounted 20 - 2 -113 Bills bought 6 + 1 - 1 U. S. Government securities 2,^30 - 1 +156 Other Reserve bank credit - 1 7 TOTAL RESERVE BASK CREDIT 2.H63 Monetary gold stock 7,976 11 +3.939 Treasury and National bank currency 2,409 - 3 +130 Money in circulation 5,1+03 - 9 + 95 Member bank reserve balances 3,970 +S1 +l,37H Treasury cash and deposits with F.R.banks 3,061 -63 +2,731 Nonmember deposits and other F.R. accounts kl5 -10 -SS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 28,193^5 110t earlier. B- ASSETS AND LIABILITIES OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Sept. 26.193*+ Sept. 19.1934 Sept. 27.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 4,958,007 4,957.624 956,400 Gold — 2,599,676 Redemption fund - F. R. notes 22,298 23,382 35*7^3 Other cash 236.651 229.733 231.762 Total reserves 5,216,956 5.210,739 3,823,561 Redemption fund - F. R. bank: notes . . 1,829 1,995 • 9,497 Bills discounted: Sec. by U.S.Government obligations . 5,137 5,357 31,219 Other bills discounted 15.177 16.608 102.0l4 Total bills discounted . . .. 20,314 21,965 133,233 Bills bought in open market 5,812 5,202 6,681 Industrial advances l,96l 1,494 U. S. Government securities: Bonds 395,541 396,643 442,011 Treasury notes . 1,1+21,720 1,421,710 937,37^ Certificates and bills 612.872 612.369 895.010 Total U. S. Government securities 2,430,133 2,430,722 2,27*1,395 Other securities J2Z 25^. 1,729 Total bills and securities . . . 2,458,547 2,459,739 2,4l6,03S Due from foreign banks 1,819 2,426 3,775 F. R. notes of other banks 22,488 22,735 19,323 Uncollected items 433,443 486,940 389,001 Bank premises 52,821 52,821 5l+,551+ All other assets 53.642 52.937 54,681 total assets 8,241,545 8,290,332 6,770,430 L I A B I L I T I ES F. R. notes in actual circulation . . . 3.13^,973 3,1^6,596 2,972,782 F. R. bank note circulation - net . . . 30,479 30,633 145,627 Deposits: Member bank - reserve account . . .. 3,969,517 3,889,365 2,595,&31* U. S. Treasurer - General account . . 154,512 210,462 56,062 Foreign bank 9,7^0 10,578 15,197 Other deposits 175.920 184.524 l40.886 Total deposits 4,309,689 4,294,929 2,807,779 Deferred availability items 430,714 482,972 387,711 Capital paid in 146,752 146,671 145,862 Surplus 138,382 138,383 278,599 Reserve: for contingencies . . . . .. 22,446 22, kk7 12,103 >M7 All other liabilities • . . . 28,109 27,701 19,967 TOTAL LIABILITIES 8,2^1,5^5 8,290,332 6,770,^30 Ratio of total reserves to deposit and P. R. note liabilities combined . . . 70*1$ 70*0$ 66*1$ Contingent liability on bills purchased for foreign correspondents • • • * . 753 599 k2,bOJ Commitments to make industrial advances 756 686 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS MID LIABILITIES OF THE FEDERAL RESERVE BANKS OK SEPTEMBER 26, 193*+ 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 4,958,007 338,319 1,791,976 249,763 367,212 191,821 100,983 1,052,277 176,644 129,835 164,648 100,822 293,702 Redemption fund - F. R. notes 22,298 1,638 1,504 2,887 2,674 1,717 3,650 1,173 811 1,007 789 429 4,019 Other cash 236,651 20,824 58,411 36,472 11.699 9.184 13.241 35,315 10.119 11,980 9,338 6.616 13.4s? Total reserves 5,216,956 360,781 1,851,891 289,127 381,585 202,722 117,874 1,088,765 187,574 142,822 174,775 107,867 311,173 Redemption fund - F. R. "bank notes 1,829 250 1,579 — — — — — — — — — Bills discounted: Secured "by U.S.Govt, obligations 5,137 1,275 2,102 1,183 116 127 35 150 92 14 10 3 30 Other bills discounted 15,177 7 9,75^ 4,092 277 397 179 — 48 73 120 87 143 Total bills discounted 20,314 1,282 11,856 5,275 393 524 214 150 l4o 87 130 90 173 Bills bought in open market 5,812 U17 2,172 603 546 216 199 730 122 85 159 159 4o4 Industrial advances 1,961 3 138 136 95 405 329 io5 196 343 135 76 - U.S.Government securities: Bonds 395.5^1 23,214 140,957 25,139 30,556 14,855 13,533 62,145 13,796 15,339 13,332 18,818 23,857 Treasury notes 1,42-1,720 93,588 451,029 99,347 126,999 6l,74o 56,164 252,010 55,267 35,121 54,645 36,648 99,162 Certificates and bills 612,872 40,876 185,769 42,634 55.469 26,967 24.528 114.188 24,1.37 15.116 23,867 16,009 43,31.? Total U.S.Govt, securities 2,1+30,133 157,678 777,755 167,120 213,024 103,562 94,225 428,343 93,200 6&r576 91,844 71,475 166,331 Other securities 327 — 327 — —- — — —— — — Total bills and securities 2,^58,5^7 159,380 791,921 173,461 214*053 104,707 94,967 429,328 93,658 66,091 92,26s 71,800 166,908 Dae from foreign banks 1,819 137 687 198 175 69 64 241 10 7 51 51 129 F. R. notes of other banks 22,488 354 6,692 683 1,456 1,69s 1,080 3,617 987 934 1,977 325 2,685 Uncollected items 433,443 ^2,209 106,371 34,432 40,221 39,155 12,75^ 57,873 20,636 13,400 26,676 16,725 22,991 Bank premises 52,821 3,224 11,468 4,333 6,788 3,128 2,372 7.387 3,126 1,664 3,485 1,757 4,089 All other assets 53,61+2 601 38,478 5,004 1,445 1,639 2.037 1,291 223 990 425 930 579 TOTAL ASSETS 8,21+1,545 566,936 2,809,087 507,238 645,72s 353,11s 231,l4s 1,588,502 306,214 225,908 299,657 199,455 508,554 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS Oil SEPTEMBER 26, 1934 L I A 3 I LI E S (in thousands of dollars) B-SOlc Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 3.13^.973 261,078 61+7,673 241,532 309,232 152,903 123Ms 770,599 135,689 105,921 113,926 50,755 210,123 1,016 29.H63 F.R.bank note circulation - net 30,479 Deposits: Member "bank: - reserve account 3,969,517 233.573 1,672,236 192,039 256,270 133,024 69,32s 699,293 123,727 29,713 147,097 117.256 235,961 U.S.Treasurer- General account 15^,512 3,723 111,529 2,135 5,076 9,287 3,512 14,007 1,426 l»!2l4 983 1,165 395 Foreign "bank 9,74o Si6 2,150 1,207 1,114 44i 4o6 1,462 3S3 2b7 325 325 824 Other deposits 175,920 1,532 115,627 1,518 3,593 3,320 13,28,1 6,94-8 2,924 1,876 15,098 Total de-posits 4,309,689 239,724 1,901,542 200,521 267,523 144,270 76,839 718,082 138,817 98,142 151,329 120,622 252,278 Deferred availability items 430,714 42,915 101,354 33,126 38,887 38,526 12,412 59,^62 21,671 13,942 25,864 18,906 23,649 Capital paid in 146,752 10,761 59,603 15,24s 12,972 4,992 4,370 12,723 4,055 3,123 4.131 4,002 10,772 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 22,446 1,053 1+,737 2,500 2,300 1,155 2,485 2,969 S51 1,026 '619 1,133 1,618 All other liabilities 28,109 JJSL i ^g m. 724 101 3,gs6 375 2l4_ 115. 354 469 TOTAL LIABILITIES 8,241,545 566,936 2,809,087 507,238 645,728 353,118 231,l4s 1,588,502 306,214 225,908 299,657 199,455 508,554 Ratio of total reserves to deposit and F. R. note liabilities combined 70.1 72.0 72.b 65.4 66.2 66.9 57.1 73.1 68.3 70.0 65.9 62.9 67.3 Contingent liability on bills purchased for foreign correspondents 753 38 4o6 55 51 20 19 67 17 12 15 15 38 Commitments to make industrial advances 756 110 15 2 105 37 93 162 — 232 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to To tal Within 15 days l6 to 30 days 31 to 60 days §1 to 90 days Over 6 months 6 months Bills discounted 20,314 13,767 770 495 5,251 4 27 Bills bought in open market 5,212 149 3,703 3^9 1,611 Industrial advances 1,961 18 18 82 46 358 1,^39 Certificates and bills 612,872 46,547 32,078 71,H5 187,525 236,907 38,700 Municipal warrants 327 327 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON SEPTEMBER 26, I93I+ (In thousands of dollars) B-801d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R.bank by F .Reagent 3,^27,532 288,736 7^9,57^ 259,637 32MU5 16S,79S 1^9,222 803,911+ lltt.,232 109,822 119,97S 56,566 255,^58 Held by Federal Reserve "bank 292,609 27,658 101,901 18,105 1M13 9,^95 20,3^0 33>315 5,5^3 3,901 5,992 5,811 ^5,335 In actual circulation 3,13^,973 261,078 647,673 2^1,532 309,232 15S,903 129,U82 770,599 135,689 105,921 113,986 50,755 210,123 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,175,916 273,117 763,706 210,000 277,^31 144,340 81,385 819,513 126,936 105,000 111,550 57,175 205,763 Eligible paper 10,662 1,282 6,493 1,587 345 211 188 150 135 17 61 89 104 U.S.Govt, securities 298,800 15,000 Total collateral 3,^85,37s 289,399 770,199 261,537 327,776 169,551 153,573 819,663 142,071 110,817 123,611 57,264 259,267 FEDERAL RESERVE BANK NOTE STATEMENT ON SEPTEMBER 26, I93U (In thousands of dollars) Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fraft, Federal Reserve bank notes: Issued to F.R*bank(outstanding) 1,511 30,123 10,20S — — — — Held by Federal Reserve bank 11,363 ^95 660 10,20S In circulation - net* 30,^79 1,016 29,^63 —— —— —— —- —— —- - —- Collateral pledged against outstanding notes: Discounted and purchased bills — — U.S* Govt, securities bi.kik •=5.000 30,H7H 12.000 47,474 5,000 30,^ 12,000 Total collateral *Does not include $92,061,000 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