H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE FRESS Released for publication B-801 Friday morning, Oct. 12; Federal Reserve Board not earlier. October 11, 193H. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended October 10, as reported by the Federal Reserve banks, was $2,^55,000,000, a decrease of $5,000,000 compared with the preceding week and an increase of $3,000,000 compared with the corresponding week in 1933* On October 10 total Reserve bank credit amounted to $2,^8,000,000, a decrease of $7,000,000 for the week. This decrease corresponds with a decrease of $101,000,000 in Treasury cash and deposits with Federal Reserve banks and an increase of $5,000,000 in monetary gold stock, offset in part by increases of $11,000,000 in money in circulation and $8U 000,000 in member bank reserve balances f and a decrease of 000,000 in Treasury and National bank currency. Bills discounted decreased $2,000,000 at the Federal Reserve Bank of Philadelphia and $3,000,000 at all Federal Reserve banks. There was practically no change in holdings of bills bonaght in open market, while an increase of $8,000,000 in holdings of Treasury certificates end bills was offset by decreases of $7,000,000 in holdings of United States Treasury notes and $1,000,000 in United States bonds. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended October 10, 193**» were as follows: Increase or decrease since Oct. 10 Oct. 3 Oct. 11 J33L. 1933 (In millions of dollars) Bills discounted 12 - 3 -107 - 1 Bills bought U. S. Government securities 2.U * 3 0 - l +g6 Other Reserve "bank credit - 3 - 7 TOTAL RESERVE BANT CREDIT 2.UU3 - 7 -29 + 5 Monetary gold stock 7.985 Treasury and National bank currency 2,!i03 +125 Money in circulation 5.^79 +11 + 93 Member bank reserve balances 3.979 +sU +1.U12 Treasury cash and deposits with F.R.banks 2,9^7 -101 +2,629 Nonmember deposits and other F.R. accounts 412 + 1 -S3 •Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 12,1934; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL HESERVE BAMS COMBINED (in thousands of dollars) Oct. 10, 1934 Oct. 1934 Oct, 11.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury . . • . ^,960,596 4,958,544 957,750 Gold —_ 2,595,046 Redemption fund - F. R. notes . . . . 21,15s 21.79S 37,419 215,220 Other cash . . .» 20M33 211,449 Total reserves . . . . . .. 5,186,387 5,191,791 3,805,435 Redemption fund - F # R. bank notes . . 1,897 2,186 10,515 Bills discounted: Sec. by U.S.Government obligations . 3.795 4,452 2244,,006677 Other bills discounted . 8,244 10,80^ 95,240 Total bills discounted . . . 12,039 15,257 119,307 Bills bought in open market 5,809 5,810 6,906 Industrial advances* . . .. 33,,770088 2,467 — U. S. Government securities: Bonds 395,607 396,564 441,225 Treasury notes 1,411,708 1,419,213 976,162 Certificates and bijls . . . .. . 622,887 615,388 926,722 Total U.S.Government securities 2,U30,202 2,431,165 2,344,109 Other securities 302 305 1,737 2,472,059 Total bills and securities . . 2,^52,060 2,455,004 Due from foreign banks 1,071 1,319 3,662 F. E. notes of other banks 19,572 12,733 16,296 Uncollected items H27,662 479,511 385,872 Bank premises . . 52,931 52,888 54,614 All other assets . . 55,390 sitM 58,372 TOTAL ASSETS 8,196,970 8,255,456 6,806,825 L I A B I L I T I ES F. R. notes in actual circulation . . 3,184,558 3,175,67^ 3,008,430 F. R. bank note circulation - net . . 2299,,666644 30,194 170,501 Deposits: Member bank - reserve account . . . 3,97S,521 3,394,632 2,567,360 U. S. Treasurer - General account . 5l,3S7 156,337 63,117 Foreign bank 9,476 13,401 7,799 Other deposits . . . . , 175,232 . 172,933. i4i,isi Total deposits 4,212,939 4,233,42s 2,785,059 Deferred availability items 432,822 430,370 384,498 Capital paid in . . . . . . . . . .. 146,699 146,798 145,617 Surplus . . .. 138,383 138,383 278,599 Reserve for contingencies . 22,289 22,444 12,103 All other liabilities . .. 29,616 ... 28,165 22,018 TOTAL LIABILITIES . . .. 8,196,970 8,255,456 6,806,825 Ratio of total reserves to deposit and F. R. note liabilities combined . . 7700..115566 7700..115566 6655..77$$ Contingent liability on bills purchased for foreign correspondents . . . .. 611 690 38,469 Commitments to make industrial advances 1,809 1,633 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AED LIABILITIES OF THE FEDEBAL EE,SERVE BAMS Oil OCTOBER 10, 1934 A S S E TS (In thousands of dollars) B-SOIb Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due 4,960,596 from u. S. Treasury 371,317 1,721,263 264,737 363,927 199,151 115,847 998,899 127,570 140,612 174,281 114,581 308,411 Eedemption fund - F. H. notes 21,158 1,104 1.377 2,828 2,631 1,1+58 3.627 1,119 796 1,002 724 426 4,006 9,699 6,765 6,927 11,006 Other cash 204,633 21,098 49,328 33,956 10,554 28,184 9.849 10.7^7 6,020 Total reserves 5,186,387 393,519 1,772,468 301,521 376,257 207,374 130,028 1,028,202 198,215 152,361 181,992 121,027 323,423 Redemption fund - F. R. bank notes 1,897 25O 1,647 Bills discounted: Secured "by U.S.Govt, obligations 3,795 981 1,817 417 196 82 31 — 151 7 r 35 8 20 Other bills discounted 8,244 21 5,044 1,93s 300 319 151 — 82 71 146 30 92 Total bills discounted 12,039 1,002 6,861 2,355 ^96 4oi 232 — 233 72 131 38 112 Bills bought in open market 5,809 418 2,166 6o4 546 216 199 731 122 25 159 159 4o4 Industrial advances: 3,708 903 286 137 98 481 409 199 307 602 173 98 15 U.S.Government securities: Bonds 395,607 23,214 114400,,995577 25,139 30,557 14,854 13.577 62,143 13,797 15.357 13,336 13,819 23,257 Treasury notes 1,411,708 92,881 448,075 98,609 126,040 61,274 55,740 250,364 54,84s 34,861 54,232 36,372 92,412 Certificates and bills 622,887 41,583 188,723 >+3.372 56,423 27,^35 24,954 115,836 24,555 15.379 24,276 16,284 44,062 Total U.S.Govt, securities 2,430,202 157.678 777,755 167,120 213,025 103,563 94,271 428,343 93,200 65.597 91,844 71,475 166,331 Other securities 302 — — 302 — — — — — — — Total bills and securities 2,452,060 160,001 787,068 170,51s 214,165 104,661 95.111 429,273 93,862 66,362 92,357 71,820 166,862 Due from foreign banks 1,071 80 402 116 103 41 37 i4o 9 7 30 30 76 F. E. notes of other banks 19,572 311 5,290 549 1,202 1,479 996 2,726 1,536 295 1.735 280 2,573 Uncollected items 427,662 45,20s 102,515 32,999 32,669 40,339 12,466 55,713 22,381 13,615 25.328 16,957 21,422 Bank premises 52,931 3,224 11,480 4,431 6,738 3,128 2,372 7,327 3,126 1,664 3,485 1,757 4,039 All other assets 55,390 64o 39,863 5,^37 1,433 1,645 2,002 1,29s 225 974 446 855 572 TOTAL ASSETS 8,196,970 603,233 2,720,733 515,571 638,617 35S.717 243,012 1,52^,739 319.35^ 235,878 305,373 212,726 519.017 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON OCTOBER 10, 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. DallasS an Fran. F.R.notes in actual circulation 3,184,553 267,969 659,979 241,648 306,772 167,12s 13M65 775,oUi 139,576 107,225 116,3U1 54,092 213,922 F.R.bank note circulation - net 29,664 l,0U 22,653 — Deposits: Member bank - reserve account 3.97S.521 262,474 1,665,865 203,711 257,110 133,970 75,264 639.929 126,604 98,024 148,564 125,317 241,689 U.S.Treasurer - General account 5l,3S7 1,051 22,892 2,205 1.971 2,442 1,737 7,884 3,814 1,458 2,194 2,216 1,523 Foreign bank 7,799 562 2,691 812 75P 297 273 984 258 180 219 219 554 Other deposits 175.232 3,524 110,940 2,868 ^,674 2,370 4,693 2,595 14,974 7,514 4,023 15,462 Total deposits 4,212,939 267,611 1,802,388 209,596 263,505 139.079 21,967 651.392 145,650 107,176 155,000 130,347 259,228 Deferred availability items 432,822 44,471 99,768 31,927 38,209 4i,ioi 13,737 57,910 24,066 13,571 25,522 19,118 23,362 Capital paid in 146,699 10,761 59,609 15,197 12,986 4,952 ^,370 12,703 4,063 3,120 4,125 4,0l4 10,793 Surplus 13S.3S3 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 22,289 1,053 4,737 2,345 2,100 1,155 2.485 2,967 850 1,026 619 1.133 1,619 All other liabilities 29,616 747 20,382 1,446 755 125 443 4,045 221. 340 153 m. 448 TOTAL LIABILITIES 8,196,970 603,233 2,7 ? 0,733 515,571 633,617 352,717 243,012 1,524,739 319,354 235,272 305,373 212,726 519,017 Ratio of total reserves to deposit and 66. F. R. note liabilities combined 70.1 73.5 72.0 66.0 67.7 60.0 72.X 69.5 71.1 67.1 65.6 68.4 Contingent liability on bills purchased for foreign correspondents 611 53 133 76 70 28 26 92 24 17 20 20 52 Coimiitraents to make industrial advances 1,209 674 ?4 2 111 37 70 — 512 232 — 147 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Over 6 months Total Within 15 days X6 to 30 days 31 to 60 days 6X to 90 days 6 months Bills discounted 12,039 9,514 351 969 1,149 52 Bills bought in open market 5,209 1,254 225 3,917 413 Industrial advances 3,703 IS g 102 23 426 3,071 Certificates and bills 622,887 33,072 38,690 36,425 229,925 280,269 4,500 Municipal warrants 302 302 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

-« FEDERAL RESERVE NOTE STATEME1TT ON OCTOBER 10, 1934 (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.R.agent 3.^71,589 295,714 763,532 257,306 320,973 177,096 151,613 SOS,500 14)4,757 m,307 125,010 59,905 255,226 Eeld "by Federal Reserve bank 237,031 27,745 103,603 15,658 14,201 9,96s 16,74s 33,459 5,1S1 4,082 2,669 5,813 41,904 In actual circulation 3,184,558 267,969 659,979 241,648 306,772 167,128 134,865 775,041 139,576 107,225 116,341 54,092 213,9?2 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,194,416 295,117 763,706 212,000 271,431 152,340 81,335 792,513 133,936 109,000 111,550 60,675 210,763 Eligible paper 8,190 1,002 4,969 768 496 261 206 ~ 233 8 117 88 42 U.S.Govt. securities 292,400 45,000 50,000 25,000 72,000 20,000 12,000 5,400 15,000 — 50,000 Total collateral 3,495,006 296,119 762,675 257,76s 321,927 177,601 153,591 812,513 146,169 112,408 126,667 60,763 260,805 FEDERAL RESERVE BAM MOTE STATEMENT OH OCTOBER 10, 1934 (In thousands of dollars) Total Boston Hew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran, Federal Reserve bank notes: Issued to F.E/Dank(outstanding} 41,010 1,511 29,291 10,208 Held by Federal Reserve bank 11,346 500 638 10,208 ~ — In circulation - net* 29,664 1,011 28,653 Collateral pledged against outstanding notes: Discoimted and purchased bills 46,474 5,000 29,474 12,000 U.S. Govt, securities 46,474 5,000 29,474 12,000 Total collateral ••Does not include $891244,000 of Federal Reserve "bank notes for the retirement of which Federal Reserfe "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