H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication B-gOl Friday morning, October 19; Federal Reserve Board not earlier October IS, 1 9• t COHDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended October 17, as reported by the Federal Reserve banks, was $2,457,000,000, an increase of $2,000,000 compared with the preceding week and a decrease of $39,000,000 compared with the corresponding- week in 1933• On October 17 total Reserve bank credit amchanted to $2,1+57>000>0°0» an in~ crease of $9*000,000 for the week. This increase corresponds with increases of $17,000,000 in member bank reserve balances and $10,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $5,000,000 in monetary gold stock and $7»000,000 in Treasury and National bank currency and a decrease of $10,000,000 in money in circulation. There were practically no changes in the System's holdings of bills discounted, bills bo-ught in open market and of United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended October 17, 193*+. w®re as follows: Increase or decrease since Oct* 17 Oct. 10 Oct. IS 19^ 193U 1933 (In millions of dollars) Bills discounted 12 -101 Bills bought 6 — -1 U. S # Government securities 2,^30 — +55 Other Reserve bank credit 9 + 9 - 9 TOTAL RESERVE BANE CREDIT 2,1+57 + 9 -56 Monetary gold stock 7.990 + 5 +3.95U Treasury and Natio&a-l bank currency 2,1+10 + 7 +133 Money in circulation 5M3 -10 +106 Member bank reserirg Tn&tofcfT 3.996 +17 Treasury cash and deposit* with F R.banks 2,96s +1 +2,6SH # Nonmember deposits and otfyer F.R. accounts U22 +10 -102 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 19,153^, 110 ^ earlier. B-SOla ASSETS A1ID LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Oct. 17.193*+ Oct. 10.1934 Oct. 18. 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury ^,965,3^2 4,960,596 956,818 Gold — — 2,598,697 Redenption fund - F. R. notes . . .. 22,019 21,158 36,569 Other cash . 215,801 204.633 229.208 Total reserves 5.203,164 5,186,387 3,821,292 Redemption fund - F. 3. bank notes . . 2,215 1,897 11,315 Bills discounted: Sec. by U.S.Government obligations . HH..330066 3,795 22,798 Other bills discounted . . . . . .. 7,40b 8,244 89,956 Total bills discounted . . .. 11,712 12,039 112,754 Bills bought in open market . . . .. 6,177 5,809 6,569 Industrial advances* 4,576 3,708 — U. S. Government securities: Bonds . 395,673 395.607 441,395 Treasury notes . 1,411,706 1,411,70s 976,161 Certificates and bills . . . .. 622.886 622,887 957,723 Total U.S. Government securities . 2,430,265 2,430,202 2,375.279 Other securities . . . . . . . . .. 302 302 1.559 Total bills and securities . . . 2,453,032 2,452,060 2,496,161 Due from foreign banks . . . . . .. 1,071 1,071 4,913 F. R. notes of other banks . . . .. 21,164 19,572 17.998 Uncollected items . « . . • • . • •. 591,738 427,662 482,884 Bank premises • • • • • . . . • • •• 52,931 52,931 54,614 All other assets . . . . . . • • .• 44.SS7 5^.390 ^7.875 TOTAL ASSETS 8,370,202 8,196,970 6,937.052 L I A B I L I T I ES F.K. notes in actual circulation • # 3,182,329 3,184,558 2,993,917 F. R,. bank note circulation - net # . 2299,,442255 29,664 172,143 Deposits: Mezmber bank - reserve account . . . 3,996,276 3,978,521 2,655.3^3 U. S. Treasurer - General Account . 53,19*+ 51,387 17.634 Foreign bank .. 7.129 7,799 15.132 Other deposits . . . • . • • • •. 176.289 175,232 151.122, Total deposits 4,232,888 4,212,939 2,839,231 Deferred availability items # . . . . 588,695 432,822 471,035 Capital paid in . . . . . . .. . . 146,755 146,699 145,549 Surplus • • • • • . • • .. . . .. 138,383 138,383 278,599 Reserve for contingencies 22,290 22,289 12,103 All other liabilities 29.437 29,616 24,475 TOTAL LIABILITIES . . .. 8,370,202 8,196,970 6,937,052 Ratio of total reserves to deposit and F. R. note liabilities combined . . 7700..22$$ 70.1$ 65.5$ Contingent liability on bills purchased for foreign correspondents . . .. 551166 6ll 36,030 Commitments to make industrial advances 2,182 1,809 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AKD LIABILITIES 0? THE FEDERAL RESERVE BANKS,OJJ OCTOBER 17, I93U A S S E TS (In thousands of dollars) B-SOIb Total Boston Hew York Pliila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Sold certificates on hand and due u. s. 4,965,342 372,344 1,678,407 269,011 368,315 193,679 I13.639 1,031,738 19M69 136,771 171,01U 112,299 321,656 from Treasurv Redemption fund - F. R. notes 22,019 I.O56 1,095 2,786 2,527 1,707 3,995 1,981 1^0 SSJ 7^1 405 3,979 215,803 20,67s 53,75^ 3^,927 10,887 8,428 11,149 29,17*+ 9,583 10,791 7,124 6,711 12,597 Other cash Total reserves 5,203,164 394,078 1,733,256 306,724 381,729 203,Sl4 128,783 1,062,893 206,812 148,549 178,879 H9,4l5 338,232 Redemption fund F. R. hank notes 2,215 25O 1,965 — — — — — — — — Bills discounted: 4,306 1,201 2,149 448 121 81 56 182 7 51 10 Secured by U.S.C-ovt. obligations —- Other bills discounted 7,406 21 4,44i 1,869 244 3^3 123 46 38 153 "_44 84 Total bills discounted 11,712 1,222 6,590 2,317 365 424 179 — 228 45 204 44 94 Bills bought in open market 6,177 418 2,485 603 546 216 249 731 122 85 159 159 4o4 Industrial advances 4.576 902 335 207 111 481 468 459 363 613 215 407 15 U.S.Government securities: Bonds 395,673 23,214 140,957 25,139 30,557 14,854 13,576 62,143 13,797 15,424 13,336 18,819 23,857 1,411,706 92,821 448,075 98,609 126,040 61,274 55,739 250,364 54,848 34,860 54,232 36,372 98,412 Treasury notes 622,886 4'1.533 188,723 43,372 56,428 27,434 24,954 115,836 24,555 15,379 24,276 16,284 44,062 Certificates and bills Total U.S.Govt, securities 2,430,265 157,678 777,755 167,120 213,025 103,562 94,269 428,343 93,200 65,663 91,844 71,475 166,331 Other securities 302 — — 302 — — — — — — — — — Total bills and securities 2,453,032 160,220 787,165 170,549 214,047' 104,683 95,165 429,533 93,913 66,406 92,422 72,085 166,844 Due from foreign banks 1,071 80 402 116 103 4i 37 l4o 9 7 30 30 76 F. R. notes of other banks 21,164 316 7,260 650 1,035 1,892 749 3,536 722 1,231 2,063 248 1,462 Uncollected items 591,738 60,979 153,079 47,233 57,482 50,561 18,817 74,496 25,968 15,99^ 34,979 23,498 28,652 Bank premises 52,931 3,224 11,480 4,431 6,788 3,128 2,372 7,387 3,126 1,664 3,485 1,757 4,089 All other assets 44,887 637 30,554 4,636 1,446 1,642 2,000 937 233 903 467 S65 567 TOTAL ASSETS 8,370,202 619,784 2,725,161 534,339 662,630 365,761 247,923 1,578,922 330,783 234,75^ 312,325 217,898 539,922 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH OCTOBER 17, 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.L uis Minn. Kans.Cy. Dallas San Fran. 0 F jR.no t-es in actual circulation 3,122,329 267,653 657,37s 240,888 303,S13 169,617 135,129 775,037 iHI,59H 107,026 116,172 5^.076 213,946 F.R.bank note circulation - net 29,425 1,056 28,369 Deposits: Member bank sr.. reserve account 3,996,276 260,984 1,626,322 207,185 266,61+2 133,673 73,630 673,951 133,146 93.811 148,866 121,880 256,186 U.S.Treasurer - General account 53,19^ 2,712 19,776 1,150 2,33S 83H 2,747 7,^76 3,465 2,055 1,333 3,880 5,428 Foreign bank 7,129 R62 2,021 812 750 297 273 984 258 180 219 219 55^ Other deposits 176,289 M53 106,792 6,168 4,212 1,829 5,586 3,555 14,903 8,160 3,786 2,518 1^,727 4,232,888 268,311 1,, 754,911 215,315 273,942 136,633 82,236 685,966 151,772 104,206 154,204 128,497 276,895 Total deposits Deferred availability items 588,695 60,562 154,326 46,435 54,749 48,083 18,154 77,377 27,111 15,7^2 33. ^S 26,136 26,572 Capital paid in 146,755 10,761 59,629 15*1S9 12,993 4,961 4,379 12,705 4,063 3,123 4,127 4,032 10,793 Surplus 138,383 9,610 45,217 13.352 14,090 5,171 5,145 20,681 4,756 3.^20 3.613 3,683 9,645 Reserve for contingencies 22,290 1.053 4,737 2,3^5 2,300 1,155 2,485 2,967 850 1,02b 620 1,133 1,619 All other liabilities 23 Ml 77S 20,594 815 7^3 i4i 395 4,189 637 211 l4l 3 4i 452 TOTAL LIABILITIES 8,370,202 619,7S4 2,725,161 53*+,339 662,630 365,761 247,923 1,572,922 330,733 234,75^ 312,325 217,898 539,922 Ratio of total reserves to deposit and F. R. note liabilities combined 70.2 73-5 71.9 67.2 66.1 66.6 59.2 72.8 70.5 70.3 o r o r # 20 65.4 68.9 Contingent liability on bills purchased for foreign correspondents 516 53 3s 76 70 28 26 92 24 17 20 20 52 Commitments to make industrial advances 2,182 676 369 19 121 75 70 530 172 150 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days Over 6 months 6 months Eills discounted 11,712 9,256 395 771 1,241 37 12 Bills bought in open market 6,177 4,086 964 905 172 50 Industrial advances 4,576 15 102 99 3.S62 Certificates and bills 622,886 33,07S 38,950 185,170 77,379 286,269 2,000 Municipal warrants 302 302 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE NOTE STATEMENT ON OCTOBER 17, I93U (In thousands of dollars) B-goia Total Boston New York Phi la, Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes: 3U7U,757 293,715 764,288 257,936 320,297 179,^10 150,522 811,105 145,65s 111,71*6 124,184 59,5^9 256,217 Issued to F.R.baiik "by F.R.agent f 2$2,H28 26,062 106,910 17,098 16,484 9,793 l5,*+53 36,068 M64 4,720 8,012 5,^93 42,271 Held by Federal Reserve bank In actual circulation 3,122,329 267,653 657,37s 240,88S 303,213 169,617 135,129 775,037 141,59^- 107,026 116,172 5M76 213,9^6 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,2i4,4i6 295,117 773,706 218,000 271,431 150,340 81,385 792,513 139,936 109,000 111,550 60,675 210,763 Eligible paper 8,449 1,222 •,5,090 s4l 364 285 202 228 7 l4l 44 25 294,400 4o,ooo 50,000 30,000 72,000 30,000 7,000 3,400 15,000 ~ 47,000 U.S.Govt securities # Total collateral 3,517,265 296,339 778,796 258,841 321,795 180,625 153,527 822,513 l47,l64 112,407 126,691 60,719 257,722 FEDERAL RESERVE BANK NOTE STATEMENT ON OCTOBER 17, 1934 (In thousands of dollars) Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve bank notes: Issued to F.R.bai£c(outstanding) 40,828 1,511 29,109 10,208 Held by Federal Reserve bank 11,403 740 10,208 29,425 1,056 28,369 In circulation - net* Collateral pledged against outstanding notes: Discounted 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 $88,209,000 of Federal Reserve bank notes for the retirement of which Federal Reserve banks have deposited lawful money wi th the Treasurer of the United States. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis