H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, Nov. 16; Federal Reserve Board not earlier. November 15» 193^ • CONDITION OF PEHBBA1 RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended November lU, as reported by the Federal Reserve banks, was $2, an increase of $12,000,000 conpared with the preceding week and a decrease of $108,000,000 compared with the corresponding week in 1933* On November ik total Reserve bank credit amounted to $2,^71+, 000,000, an increase of $3^4,000,000.for the week. This increase corresponds with increases of $75,000,000 in member bank reserve balances and $20,000,000 in Treasury cash and deposits with Federal Reserve banks, offset in part by increases of $22,000,000 in monetary gold stock and $8,000,000 in Treasury'and national bank currency and decreases of $23,000,000 in money in circulation and $9,000,000 in nonmeniber deposits and other Federal Reserve accounts. The System holdings of bills discounted decreased $2,000,000„ while holdings of bills bought in open market and United State sGovernment securities remained practically unchanged. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended November 1^, 193^ tferea s. follows: f Increase or decrease since Nov. Ik Nov. 7 Nov. 15 1933 (In millions of dollars) Bills discounted 9 - 2 -102 Bills bought 6 — — - 9 U. S. Government securities 2,430 - 2 Other Reserve /bank: credit 29 +36 +23 TOTAL RESERVE BANK CREDIT 2,4?4 +34 -90 Monetary gold stock s,030 +22 +3.99^4 Treasury and National bank currency 2,450 + g +175 Money in circulation 5,420 -23 +112 Member bank reserve balances 4,107 +75 +1,462 Treasury cash and 'deposits with J,R.banks 2,954 +20 +2,619 Nonaieraber deposits and other F.R. accounts 403 - 9 -115 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Heleas^d for publication Friday morning, November 16,193*+; not earlier. B-SOla ASSETS AMD LIABILITIES OP THE TWELVE FEDERAL RESERVE BASKS C0MBI1TED (In thousands of dollars) Nov. 14,1934 gov. 7, 1934 Nov. 15.1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 5,018,687 U,998,077 944,058 Gold — — 2,594,910 Redemption fund - F. R. notes 21,436 21,296 38,185 Other cash . • 231.22S 212,0+3 225.820 Total reserves 5,271/411 5,232,016 3,802,973 Redemption fund - F. R, bank notes • . « 2,071 2,204 11,693 Bills discotuited: Sec, by U.S. Gov eminent obligations . • ^^339955 5,003 26,457 Other bills discoimted • Km 5,666 84.980 Total bills discoimted . 9.1^2 10,669 111,437 Bills bought in open market 5,70s 6,073 15,180 Industrial advances* . 7,753 6,617 — U.S Government securities: # Bonds 395,5^5 395,589 442,691 Treasury notes . . . . . .. 1,410,9^2 1.411,717 1,021,001 Certificates and bills 623,687 622.886 967,910 Total IT.S. Government securities 2,^30, lf4 2,430,192 2,431,602 Other securities . , — — 1,569 Foreign lomjQ gold 15,765 2,247 — Total bills and securities • . . • 2,468,542 2,455,798 2,559,788 Due from foreign banks • 802 819 3,615 R. notes of other banks 21,825 19,538 16,084 Uncollected items • 607,2Ul 4o4,194 526,891 Bank premises • • 53,084 53,084 5^,732 All other assets 49.l4l 48,381 49,198 TOTAL ASSETS 8,474,177 8,216,034 7,024,974 L I A B I L I T I ES F 0 R* notes in actual circulation * . • • 3,178,512 3,189,172 2,973,040 F. R. bank note circulation - net . . • . 28,164 2288,,331133 1199MM5500 Deposits: Member bank - reserve account • . • . • 44,,110066,,992277 4,031,551 2,645,232 U.S.Treasurer - General account . . . 53,180 33.049 64,220 # 11,465 9,074 7,532 Other deposits . . . .. 163.058 155,5% Total deposits ^,323,566 4,236,732 2,872,531 Deferred availability items . 602,273 420,865 525,9^2 # 146,985 146,777 145,100 138,383 138,383 278,599 Surplus (Section 13b) . . . • 2,21+7 1,480 — 22,291 22,291 12,090 31,756 32.021 22,722 TOTAL LIABILITIES 8,474,177 8,216,034 7,024,974 Ratio of total reserves to deposit and F. R. note liabilities combined • . . . 7700..33$$ 70.5$ 65.1$ Contingent liability on bills purchased for foreign correspondents . 1+01 390 33,,889966 •Commitments to make industrial advances . 4,257 3,822 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL EESERVE BAMS OK NOVEMBER 14, 1934 A S S E TS (In thousands of dollars) B-801b Total Boston New York Phila. CIeve. Bich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran Gold certificates on hand and due from U. S. Treasury 5,018,687 368,357 1,683,984 260,998 372,497 195.018 118,292 1,053,766 207,1133 139,078 188,987 111,289 318,988 Redemption fund - 3?. B. notes 21,1+96 899 1,452 2,544 2,503 2,201 3,785 1,682 713 885 703 369 3,760 Other cash 231,22s 24,990 55,466 34,066 12,405 9.112 10,424 31,723 12,510 11,20§ 7.^44 7,004 14,875 Total reserves 5,271,1+11 394,21+6 1,71+0,902 297.60s 337,1+05 206,331 132,501 1,087,171 220,656 151,172 197.13^ 118,662 337,623 Redemption fund - F.R.bank notes 2,071 250 1,821 — — — Bills discovmted: Secured by U.S.Govt, obligations 4,395 1,025 2,537 252 260 60 18 50 59 10 15 15 Other bills discounted 4,747 39 3,^93 526 258 97 — 7 35 219 3 16 Total bills discounted 9,142 1,061+ 6,030 778 51S 114 115 50 66 313 IS 31 Bills bought in open market 5,70s 1+0I+ 2,083 583 528 209 302 706 115 80 154 154 390 Industrial advances 7.753 1.^92 555 829 183 1,243 593 684 38O 73^ 239 576 245 U.S.Government securities: Bonds 395,5^5 23,211 140,957 25,137 30.55S 14,858 13.523 62,144 13,797 15,3^9 13,333 18,819 23.859 Treasury notes 1,1+10,942 92,825 447,839 98,550 125,963 61,236 55.706 250,232 54,815 54,200 36,350 98,352 Certificates and bills 623,687 1+1,61+1 182,959 ^3.^33 56,504 27,469 24,988 115,967 24,588 15,401 24,311 16,306 44,120 Total U.S. Govt, securities 2,1+30,171+ 157.677 777,755 167,120 213,025 103,563 94,217 428,343 93.200 65,624 91,844 71,475 166,331 Foreign loans on gold 15,765 1.135 5.^55 i,64o 1,514 599 552 1,987 520 362 441 441 1,119 Total bills and securities 2,468,542 161,772 791,878 170,950 215,76s 105,72s 95.779 431,770 94,281 66,845 92,991 72,664 16s,116 Due from foreign banks 802 60 292 87 73 31 28 106 9 7 23 23 58 F. B. notes of other banks 21,885 3S0 5,842 537 1,283 2,536 874 3,9H 1,024 1,100 1,484 4i? 2,495 Uncollected items 607,241 59,291+ 155,165 ^5,704 59,747 54,457 19,771 81,359 29,263 17,036 32.245 24,SS4 28,316 Bank premises 53,084 3,221+ 11,523 4,541 6,788 3,128 2,372 7,387 3,126 1,664 3.^5 1,757 4,089 All other assets 49, ll+l 60l+ 33,826 6,002 1,402 1,^79 1,933 998 206 873 392 S78 54s TOTAL ASSETS 8,1*71+. 177 619,830 2,741,249 525.^29 672,471 373.690 253,258 1,612,702 31+8,565 238,697 327.75^ 219,287 5^1.245 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS iHD LIABILITIES OP THE FEDERAL EESERVE BAMS OH NOVEMBER l4, 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. P.R.notes in actual circulation 3,178,512 265,^17 652,767 241,077 301,170 173.332 13v.493 769,792 143,568 106,268 117,327 5^.189 215,172 r.R.bank note circulation - net 28,164 972 27,192 Deposits: Member tank - reserve account 4,106,927 266,546 1,654,624 200,731 275.590 131,522 74,716 707,863 146,S7S 98,491 164,111 127,259 258,596 U.S.Treasurer - General Account 53.ISO 2,480 20,939 2,689 1,757 2,243 6,208 5,776 3.720 1,409 954 1,443 3,562 Foreign bank 11,465 634 5.703 916 846 335 308 1,110 291 203 247 247 625 Other deposits 151.994 99.013 2,321 3.619 1,283 2,239 3,099 12,834 4,290 976 13,248 Total deposits 4,323,566 271,333 1,780,279 206,657 281,812 135,383 83,^71 717,848 163,723 107,502 169,602 129,925 276,031 Deferred availability items 602,273 58,874 149,786 45,829 59.129 53.488 18,504 83,146 31.132 16,879 31.9S4 25,927 27.595 Capital paid in 146,925 10,924 59.578 15,213 13.059 4,972 M 76 12,722 4,119 3,108 4,109 4,052 10,753 Surplus (Section 7) 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 Surplus (Section 13b) 2,247 76s 634 252 215 — -- — — Reserve for contingencies 22,291 1,053 4,737 2,3^ 2,300 1,155 2,436 2,967 S50 1,026 619 1.133 1,620 All other liabilities ?l.756 879 21,693 956 911 189 405 4,912 477 242 285 378 429 TOTAL LIABILITIES 8,474,177 619,830 2,741,249 525.^29 672,471 373.690 253,258 1,612,702 3^8.565 238,697 327,75^ 219,287 541.245 Ratio of total reserves to deposit and P.R. note liabilities co.abined 70.3 73.5 71.6 66.5 66.5 66.8 53.7 73.1 71.S 70.7 68.7 64.5 68.7 Contingent liability on bills purchased for foreign correspondents 401 96 48 45 18 16 59 15 11 13 13 33 Commitments to make industrial advances 4,257 967 1.247 55 108 119 372 912 192 285 MATURITY DISTRIBUTION OP 3ILLS A2TD SHORT TERM SECURITIES 91 days to To tal Within 15 days 16 to 30 days 3311 ttoo 6600 ddaayyss 6l to 90 days Over 6 months 6 months Eills discounted 9.142 7.143 278 1,194 379 146 2 Bills bought in open market 5,708 578 418 520 4,192 Industrial advances 7,753 11 67 70 200 945 6,460 285,952 Certificates and bills 623,6S7 16,875 233,925 65,585 21,350 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEBAL RESERVE NOTE STATEMENT OH NOVEMBER l4, 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 3,471,064 292,810 757,317 25s,281 317,SS7 184,996 154,188 804,147 148,580 111,598 125,145 59,525 256,590 Held by Federal Reserve baak 292,552 27,393 104,550 17,204 16,717 11,664 15,695 34,355 5,072 5*330 7.818 5,336 41,418 In actual circulation 3,178,512 265,417 652,767 241,077 301,170 173,332 133,493 769,792 143,508 106,26s 117,327 54,189 215,172 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,258,916 294,117 773.706 210,000 271,431 153,340 85,385 812,513 149,936 108,500 122,550 61,675 215,763 Eligible paper 7,233 1,064 4,327 610 51s 87 199 50 66 11 269 17 15 U. S. Govt, securities 254,100 48,000 50,000 33,000 70,000 — ~ 4,100 5,000 — 44.000 Total collateral 3,520,249 295,181 778,033 258,610 321,949 186,427 155,584 812,563 150,002 112,611 127,819 61,692 259,778 FEDERAL RESERVE BAl'I M)TE STATEMENT ON NOVEMBER l4„ 1934 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal He serve bank notes: 1,511 Issued to F.R.ba:nk( outstanding) 39,534 27,815 10,208 Held by Federal Reserve bank 11,370 539 623 10,208 In circulation - net* 28,164 972 27,192 Collateral pledged against outstanding notes: Discounted and purchased bills U. S. Govt, securities 45,274 5,000 28,274 12*000 Total collateral 45.274 5,000 28,274 12,000 *Does not include $84,184,000 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