H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE- PRESS Released for publication B-SOl Saturday morning, Dec. 1; Federal Reserve Board not earlier. November 30® 193^*• CONDIT1021 OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve "bank credit outstanding during the week ended November 28, as reported by the Federal Reserve banks, was $2,H6H,000,000 a decrease of $13,000,000 compared with the preceding week and of $120,000,000 compared with the corresponding week in 1933• On November 28 total Reserve bank credit amounted to $2,^60,000,000, a decrease of $10,000,000 for the week. This decrease corresponds with a decrease of $SS,000,000 in member bank reserve balances and increases of $36,000,000 in monetary gold stock and $10,000,000 in Treasury and national bank currency, offset in part by increases of $61,000,000 in money in circulation and $61,000,000 in Treasury cash and deposits with Federal Reserve banks. The System's holdings of bills discounted and of industrial advances increased $1,000,000, each, while holdings of bills bought in open market and of United States Government securities remained practically unchanged. Changes in the amount of Resei-ve bank credit outstanding and in related items during the week and the year ended November 2S were as follows: Increase or decrease since Nov. 28 Nov. 21 Nov. 29 1933 (In millions of dollars) Bills discounted 12 + 1 -107 Bills boiaght 6 — -IS U, S. Government securities - 2 — Industrial advances (not including f million commitments - November 28) 10 + 1 +10 Other Reserve bank credit 2 -12 - 5 TOTAL RESERVE BAM CREDIT 2,U6O -10 -121 Monetary gold stock 2,112 +36 •^,076 Treasury and national bank currency 2,Uo9 +10 +192 Money in circulation 5,516 +61 +61 Member bank reserve balances M os -88 +1,535 Treasury cash and deposits with F.R.banks 3,017 +61 +2,6k8 Nonmember deposits and other T.R. accounts w + 1 -97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, Dec. 1,193*+; not earlier. B-SOla ASSETS AED LIABILITIES OP THE TWELVE FEDERAL KSSERVE BAMS COMBINED (in thousands of dollars) Nov. 28,1931* gov. 21.1931* Nov.29. 1933 A S S E TS Gold certificates on hand and due from U. S. Treasury 5,087,272 5.055.529 91+2,790 Gold -, 2.5S9.560 r Redemption fund - F. R. notes 20,13$ 19,337 1*0,888 Other cash 220,216 21*0,299 20U.583 Total reserves 5,327,626 5,315.665 3.777.821 Redemption fund - F. R. bank notes . . . l,88o 1,886 11.990 Bills discounted: Secured "by U.S.Gov't, obligations,direct and/or fully guaranteed 7>315 *6,073 36,959 Other bills discounted '4.557 *l*,650 82,082 Total bills discounted 11,872 10,723 119,Okl Bills bou^it in open market 5.683 5,685 23,866 Industrial advances . . . .. . . . . . 9,769 8,673 U. S. Government securities: 3onds 395,5141. 395.550 1+1+2,675 Treasury notes . l,UlO,257 1,1+10,229 1,03U,003 Certificates and bills 62H.368 621+.368 95*+,959 Total U.S. Government securities 2,1+30,169 2.1+30.1^7 2,^31.637 Other securities — 1.580 Foreign loans on gold 3.050 10,339. Total bills and securities . . .. 2,460,51*3 2,1+65,567 2,576,121* 800 Due from foreign banks 803 3.523 F. R. notes of other banks 20,01*1 25,055 15, ^ Uncollected items 1+25,277 486,032 375,332 Bank premises ... 53»l6U 53,162 5^.732 All other assets 50,561 1+9.760 50. ^1+2 TOTAL ASSETS . 8,339,901 8,397,927 6,s65,398 L I A B I L I T I ES F. R. notes in actual circulation . . . 3,188,1+71 3,157,686 3,030,329 F. R. bank note circulation - net ... 27,77!* 27,769 205,39*+ Deposits: Member bank - reserve account . ... 1*,108,1*53 1*, 195,892 2,572,91*2 U.S.Treasurer - General account . . . 85,576 32,699 81,519 Foreign bank . 16,992 16,551* 5.321+ Other deposits ll*3,000 11*2.555 136.689 Total deposits 4,35^,021 1*, 387,700 2,796,1*71* Deferred availability items . . . . .. 1*27, ll6 1*82,899 373,730 Capital paid in 1^6,879 ll*7,023 11*5,191* Surplus (Section 7) 138,383 138,383 278,599 Surplus (Section 13 b) 2,682 2,21*7 Reserve for contingencies . . . . . .. 22,291 22,291 12,090 All other liabilities . . . . . . . .. 32,28** 31,929 23,588 TOTAL LIABILITIES 8,339,901 8,397,927 6,865,398 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 70,6$ 70.1$ 6l*.8# Contingent liability on bills purchased for foreign correspondents I4.9O 295 2,893 Commitments to make industrial advances 6,657 5,063 •Figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AM) LIABILITIES OP THE FEDERAL RESERVE BAMS ON NOVEMBER 28, 1934 A S S E TS (In thousands of dollars) B-SOlb Total Boston Hew York Fhila. Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy,. Dallas San Fraj Gold certificates on hand and due from U. S. Treasury 5,087,272 365,160 1,768,873 257,231 334,717 188,556 112,694 1,086,332 189,531 139,278 179,906 109,371 305,623 Redemption fund - P. R. notes 20,13s 855 1,164 2,767 2,428 1,920 3,615 1,572 679 359 689 357 Other cash 220,216 25,353 47,052 31,9^3 11,679 9,956 11,125 28,560 12,165 11,257 9,007 7,438 14,676 Total reserves 5,327,626 391,363 1,817,089 291,946 398,824 200,432 127,434 1,116,464 202,375 150,894 189,602 117,166 324,032 Redemption fund - F.R.bank notes 1,886 250 1,636 — — — — — — Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteed 7,315 1,526 4,541 610 95 79 35 225 59 4444 6655 3366 Other "bills discounted 4,557 32 3,623 439 215 60 82 13 3 """" 2244 51 15 Total bills discounted 11,872 1,558 .8,164 1,049 310 139 117 238 62 24 95 65 51 Bills botight in open market 5,683 4o4 2,058 583 528 209 302 706 115 80 154 154 390 Industrial advances 9,769 1,663 617 1,709 37s 1,335 73S 733 376 i,o4o 257 678 ,245 U.S.Government securities: 3onds 339955,,55^^44 23,207 140,957 25,137 30,^58 1144,,885577 1133,,552266 6622,,114433 1133,,779966 15,353 13,332 18,820 23,858 Treasury notes 1,410,257 92,612 449,273 98,329 125,675 61,097 55,5S5 249,739 54,690 3^,786 54,076 36,267 98,128 Certificates and bills 624,368 41,852 187,525 43,654 56,791 27,609 25,II4 116,46i 24,714 15,^79 24,436 16,388 44,345 Total U.S.Gov't, securities 2,430,169 157,671 777,755 167,120 213,024 103,563 94,225 428,343 93,200 65,618 91,844 71,475 166,331 Foreign loans on gold 3,050 220 1,053 318 293 116 107 385 101 70 85 85 217 Total bills and securities 2,460,543 161,516 789,647 170,779 214,533 105,362 95,489 430,405 93,854 66,832 92,435 72,457 167,234 Due from foreign banks 803 61 294 87 78 31 28 106 9 6 23 23 57 F. R. notes of other banks 20,041 395 5,515 525 920 2,361 883 2,737 1,274 1,135 799 327 3,170 Uncollected items 425,277 45,17^ 104,611 36,714 38,912 41,972 14,115 49,098 20,482 13.W5 23,114 15,272 22,36s Bank premises 53,164 3,224 11,569 4,567 6,788 3,133 2,372 7,389 3,127 1,664 3,485 1,757 4,089 All other assets 50,561 561 35,568 5.7S7 1,425 1,450 1,906 967 217 856 422 882 520 TOTAL ASSETS 8,339,901 602,549 2,765,929 510,405 66l 4gO 35^,7^1 242,227 1,607,166 321,33s 23^,832 309,880 207,884 521,470 f Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES OP THE FEDEBA.L RESERVE BAMS Oil NOVEMBER 28, 1934 L I A B I L I T I ES (In thousands of dollars) B-gOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, P.R.notesr in actual circulation 3,188,471 264,953 668,324 241,875 301,144 173.396 136,196 771,979 142,582 106,608 117,125 53,727 210,562 F.R.bank note circulation - net 27,774 1,015 26,759 Deposi ts: Member bank - reserve account 4,108,453 261,011 1,694,324 194,150 279,999 121,505 72,690 725,^53 135,241 99,482 156,175 124,005 244,418 U.S.Treasurer - General account 85,576 2,869 42,110 3,137 6,796 5,641 2,731 10,065 1,120 1,304 l,4s6 1,921 6,396 Foreign "bank 16,992 1,282 5,344 1,852 1,710 677 623 2,244 588 4l0 499 499 1,264 Other deposits 1,295 94,944 2,621 3,670 985 3,541 1,314 10,546 5,265 2,871 1,049 Total deposits 4,354,021 266,457 1,836,722 201,760 292,175 128,808 79,585 739,076 147,495 106,461 161,031 127,474 266,977 Deferred availability items 427,116 46,906 102,321 35,029 37,561 4l,o46 13,632 5^,357 21,104 13,401 22,899 17,363 21,497 Capital paid in 146,879 10,931 59,583 15,147 13,064 4,972 4,373 12,71s 4,118 3,119 4,050 4,050 10,754 Surplus (Section j) 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 Surplus (Section 13 t>) 2,682 76s —— — 183 —^ 378 634 — 504 215 — — Reserve for contingencies 22,291 1,053 4,737 2,345 2,300 1,155 2,486 2,967 S50 1,026 619 1,620 All other liabilities 32,284 856 22,266 897 963 193 432 4,754 433 293 32s 415 TOTAL LIABILITIES 8,339,901 602,549 2,765,929 510,405 661,480 354,741 242,227 1,607,166 321,33s 234,832 309,SS0 207,884 521,470 Ratio of total reserves to deposit and F.R. note liabilities combined J0,S 73.6 72.5 65.S 67.2 66.3 59.1 73.9 69.8 70.S 68.2 64.7 67.9 Contingent liability on bills purchased for foreign correspondents 490 22 292 32 29 11 11 38 10 7 8 8 22 Commitments to make industrial advances 6,657 1,245 2,113 308 738 119 464 975 — 192 503 MATURITY DISTRI3UTI0F OP BILLS AIID 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 11,872 9,884 866 398 699 25 3ills bought in open market 5,683 2,745 250 1,799 889 Industrial advances 9,769 42 83 164 235 1,294 7,951 Certificates and bills 624,36s 195,575 65,899 78,200 2S4 f 6g4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE HOTE STATEME1TT ON NOVEMBER 28, 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: Issued to F.R/bank "by F.R.agent 3,464,219 293*056 758*79*+ 257,3^7 316,860 184,022 153,271 803,281 1^7»256 111,487 124,688 59,956 254,201 Held "by Federal Reserve bank 27517^8 28,103 90 ^70 15»^72 15 >716 10,626 17,075 31,302 M7H 4,879 7,563 6,229 43,639 In actual circulation 3,188,471 264,953 668,324 241,875 301,144 173,396 136,196 771,979 142,582 106,608 117,125 53,727 210,562 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,243,416 291,617 773,706 209,000 272,431 150,340 85,385 812,513 137,936 110,500 122,550 61,675 215,763 Eligible paper 10,237 1,558 6,725 881 310 113 201 238 61 — 49 * 65 36 U. S. Govt, securities 258,700 48,000 45,000 35,000 70,000 10,000 i,700 5,000 44,000 Total collateral 3,512,353 293,175 780,431 257,881 317,7^1 185,^53 155,586 812,751 1^7,997 112,200 127,599 61,740 259,799 FEDERAL RESERVE BAIE HOTE STATEMENT Oil NOVEMBER 28, 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.R."bank( outstanding) 39,049 1,511 27,330 10,208 — Held by Federal Reserve bank 11,275 496 571 10,208 — — — In circulation - net* 27,77^ 1,015 26,759 Collateral pledged against outstanding notes: Discounted and purchased bills 44,574 5,000 27,574 12,000 — U. S. Govt, securities 44,574 5,000 27,574 12,000 Total collateral •Does not included $83,139,000 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