H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PEESS Released for publication B-gOl Friday morning, Dec. 7; Federal Reserve Board not earlier. December 6, 193^• CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal Reserve bank credit outstanding during the week ended December 5» as reported by the Federal Reserve banks, was $2,^59,000,000, a decrease of $5,000,000 compared with the preceding week and of $lV+,000 000 comf pared with the corresponding week in 1933* On December 5 total Reserve bank credit amounted to $2,^52,000,000, a decrease of $8,000,000 for the week. This decrease corresponds with a decrease of $35,000,000 in member bank reserve balances and increases of $^9,000,000 in monetary gold stock and $9,000,000 in Treasury and national bank currency, offset in part by increases of $29,000,000 in money in circulation*. $^3,000,000 in Treasury cash and deposits with Federal Reserve banks and $lU,000,000 in nonmember deposits and other Federal Reserve accounts. The System's holdings of bills discoimted decreased $2,000,000, while a decrease of $5,000,000 in holdings of United States Treasury notes was offset by an increase of $5,000,000 in Treasury certificates and bills. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended December 5,1931+ wore as follows: t Increase or decrease since Dec. 5 Nov. 28 Dec. 6 19^,, 1933 (In millions of dollars) Bills discounted 10 - 2 -106 Bills bought 6 — -55 U. S. GrOTernment securities 22,,^^3300 — - 1 Industrial advances (not including 7 million commitments - December 5) 10 — +10 Other Reserve bank credit k - 6 -11 - TOTAL RESERVE SANK CREDIT 2.U52 - 8 -163 Monetary gold stock S,l6l +M-9 +4,125 Treasury and national bank currency 2,117s + 9 +201 Money in circulation 5,5^5 +29 + 71+ Member bank reserve balances M 73 -35 +1,512 Treasury cash and deposits with F.R. banks 3,060 +1+3 +2,674 +lk Honneaber deposits and other F.R. accounts U13 - 97 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Dec. 7,193^5 not earlier. B-801a ASSETS AI'H) LIABILITIES 0? THE TW3LVS FiSDSIiAL EE3EHY® 3AITC5 C0KDIIT1D (In thousands of dollars) Dec. .5,1934 STov. 28,1934 Dec. 6,191 A S S E TS Gold certificates on hand and due from U. S. Treasury . . 5,111,620 5,087,272 943,475 Sold — 2,586,897 Redemption fund - F. B. notes 19,804 20,138 42,479 Other cash 218.767 220,216 206,530 Total reserves . . . . . .. 5,350,131 5,327,626 3,779,381 Redemption fund - F. R. bank notes • . 2,166 1,886 12,447 Bills discounted: Secured by U.S.Gov!t. obligations,direct and/or fully guaranteed . . . . . 66,,227744 7,315 33,244 Other bills discoi^nted . . . . « . • 44,,119922 ^,557 82,317 Total bills discounted . . . . 10,466 11,872 115,561 Bills bought in open market . • • . • 5*632 5,683 61,284 Industrial advances . • . . • . • • • 10,204 9,769 — U. S Government securities: # Bonds . • . 385,588 395,544 442,172 Treasury notes • • . . . 1,405,248 1,410,257 1,055,300 Certificates and bills 629,36s 624,368 933,585 Total U.S. Government securities 2,430,204 2,430,169 2,431,057 Other securities . • . . 1,599 Foreign loans on gold . . . . . . .. 3,050 — Total bills and securities . • 2,1156,556 2,460,543 2,609,501 Due from foreign banks . . . . . . .. S03 803 3,519 F. R. notes of other banks 21,122 20,041 14,730 Uncollected items • • • . . 445,696 425,277 381,643 3an> premises . . . . 53.275 53,164 54,794 All other assets . . . 50/475 50,561 50,784 TOTAL ASSETS . . 8,384,284 S,335,901 6,906,799 L I A B I L I T I ES F. R. notes in actual circulation . . 3,213,805 3,188,471 3,042,725 F. R. bank note circulation - net . . 21 Ml 27,774 208,740 Deposits: Member bank - reserve account . . . 44,,007733,,333355 44,,110088,,445533 22,,556611,,118800 U.S.Treasurer - General account • . 92,369 85,576 98,400 Foreign bank . , 15,636 16,992 9,442 Other deposits 160,272 143,000 146,418 Total deposits 4,347,662 4,354,021 2,815,440 Deferred availability items 454,865 427,116 379,850 Capital paid in . . . . . . . . . .. 146,860 146,879 145,300 Surplus (Section 7) . . . . 138,383 138,383 278,599 Surplus (Section 13 b) • • • • • •• • 3,873 2, bS2 — Reserve for contingencies . . . . .. 22,293 22,291 12,091 All other liabilities • • . . . . .. 29,066 24,054 ... 32,284 TOTAL LIABILITIES 8,384,284 8,339,901 6,906,799 Ratio of total reserves to deposit and F.R. note liabilities combined . . . 11QQ..ZZ<<$$>> 7700..66$$ 6644..55$$ Contingent liability on bills purchased for foreign correspondents 548 490 2,894 Commitments to make industrial advances 6,656 6,657 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AHD LIABILITIES 0? THE FEDERAL RESERVE BANKS OH DECEMBER 5, IS3U A S S E TS (In thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta CMcago St.Louis Minn. Kans .Cy. Dallas San Fran Sold certificates on hand and due from U. S. Treasury 5,111,620 323,166 1,709.269,956 396,655 204,161 117,701 1,076,35^ 195,249 149,629 184,158 107,553 317,696 Redemption fund - F. R. notes 19,804 g36 92g 2,727 2,3b7 1,907 3,921 1,452 666 346 649 344 3,661 Other cash 21g,767 25,697 4g,gl5 32,4g4 10,657 8,803 io,45g 27,gl6 11,630 10,764 9,222 7,333 I5,08g Total reserves 5,350,191 409,699 1,759,085 305,167 ^09,679 214,871 132,ogo 1,105,622 207,5*15 160,739 194,029 115,230 336,^5 Redemption fund - F.R.bank notes1 2,166 250 1,916 — — — — — — — — Bills discounted: Secured "by U.S.Gov't, obligations, direct and/or fully guaranteei d 6,274 1,170 33,,993366 554422 llgg55 6699 25 200 57 — 39 51 Other bills discounted 4,192 2g 3,33^ 426 199 71 — 3 23 46 15 Total bills discounted 10,466 1,193 7,270 96s 384 116 96 200 60 23 85 66 Bills bought in open market 5,6g2 4o4 2,051+ 584 52g 209 303 707 115 80 154 154 390 Industrial advances 10,204 l,66l 6I+7 1,967 420 1,357 7^1 757 4i6 1,059 256 678 245 U.S.Government securities: Bonds 395,523 23,207 11+0,956 25,137 30,557 l4,85g 1133,,55^^22 6622,,114433 13,797 15,381 13,33^ 18,818 23,858 Treasury notes 1,405,248 92,259 447,79S 97,961 125,196 60,863 55,369 24g,917 54,481 3M52 53.S70 36,129 97,753 Certificates and bills 629,368 1+2,205 189.001 44,022 57,271 27,842 25,324 117,283 24,922 15,610 24,640 16,528 44,720 Total U.S.Gov't, securities 2,430,204 157,671 777,755 167,120 213,024 103,563 9^,235 428,343 93,200 65,643 91,844 71,475 166,331 Total bills and securities 2,^56,556 160,93U 787,726 170,639 214,356 105,245 95,375 430,007 93,791 66,805 92,339 72,307 167,032 Due from foreign banks g03 60 299 S7 77 31 28 105 9 6 22 22 57 F. R. notes of other banks 21,122 4l6 5,960 560 1,066 2,645 1,29s 1,909 826 1,231 968 349 3,29^ Uncollected items 449,696 ^7,399 116,164 36,011 4i,46o 40,851 13,642 57,068 20,417 12,840 25.277 16,46l 22,106 Bank premises 53,275 3,224 11,567 4,621 6,788 3,133 2,372 7,3S9 3,127 1,664 3,5^ 1,757 M S9 All other assets 50,475 564 35,629 5,764 1,365 1,480 1,872 969 232 g54 342 S89 515 TOTAL ASSETS 8,384,284 622,546 2,718,346 522,349 674,791 36g,256 246,667 1,603,069 325,31+7 244,139 316,521 207,015 534,138 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH DECEMBER 5, I93I+ L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,213,805 269,739 669,910 21+3,261+ 302,608 175,058 137,067 777,951 1^3,1S2 107,29s 118,763 213,90^4 F.R.bank note circulation - net 27,^77 1,060 26,Ul7 — — — ' — Deposits? Member bank - reserve account 073,385 271,885 1,628,189 201,31+1 286,713 133^65 77,022 707,65s 132,5^ 102,621 156,351 119,809 255,787 U.S.Treasurer - General account 98,369 3.909 50,292 6,1+80 8,359 1,761+ 2,31+2 io,9S8 5,1+51 3,583 2,1+95 1,383 1,323 Foreign bank 15,636 1,122 5,1+2+9 1,620 1/495 592 5^5 1,963 511+ 358 1+36 1+36 1,106 Other deposits 160,272 2,8*12 96,035 3,127 3,901 3*502 ll,8Sl+ 8,570 1,150 16,211+ Total deposits l+,3^7,662 279,758 1,779,965 212,56s 300,1+68 11+0,901+ 83,1+11 72l+,l+37 150,393 115,132 163,1+18 122,778 27l+,i+30 Deferred availability items l+5l+,865 1+8,706 113,707 3^,167 i+i,isi+ 1+0,717 13,381 58,836 22,278 12,810 25,250 20,538 23,291 Capital paid in 11+6,860 10,913 59,600 15,11+7 13.065 l+,98l+ ^.373 '1?,719 1+.079 3,120 M52 1+.050 10,758 Surplus (Section 7) 138,383 9,610 1+5,217 13,352 ii+,090 5.171 5.1U5 20,681 ^,756 3,1+20 3,613 3,683 9,61+5 Surplus (Section 13b) 3,873 768 1,050 183 37s 733 501+ 257 Reserve for contingencies 22,293 1,053 ^,737 2,31+5 2,300 1,156 2,1+86 2,967 850 1,026 620 1,133 1,620 All other liabilities 29,066 939 18,793 956 893 2S6 1+26 1+09 229 ^8 2ZL 1+90 TOTAL LIABILITIES S,38i+,2Si+ 622,51+6 2,718,31+6 522,31+9 67i+,79i 368,256 21+6,667 1,603,069 325,9^7 2i+U,l39 316,521 207,015 53l+,13S R^,tio of total reserves to deposit and F. E. note liabilities combined 70-i8 7^.6 71.8 66.9 67.9 68.0 59.9 73.6 70,7 72.1 68.8 65.O 68.9 Contingent liability on bills purchased for foreign correspondents 51+S 35 227 51 1+7 19 17 62 16 11 ll+ ib 35 Commitments to make industrial 6,656 l,2*+5 2,177 103 750 20I+ 537 9I+0 503 advances 192 MATURITY DISTRIBUTION OF BILLS AID SHORT TEEM 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 10,1+66 9,099 265 389 701 12 Bills bought in open market 5.682 ll+O 1,177 952 3,^13 Industrial advances 10,201+ 69 1+0 281 I63 I Ml S,20l+ Certificates and bills 629,368 128,122 >+2,399 61+, 250 83,239 3U,35S Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE 1T0TE STATEMENT ON DECEMBER 5, 1934 (In thousands of dollars) B-SOld Total Boston ITew 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 3,1+S9,12s 293,559 766,1+72 260,676 320,095 185,9S2 153,10*+ 808,448 148,799 111,956 125,3^0 60,336 253,861 Held by Federal Reserve bank 275,323 23,820 96,562 17,412 17,1+87 10,92^ 16,037 30,^97 5,617 M5S 6,577 6,375 39,957 In actual circulation 3,213,505 269,739 669,910 243,264 302,60s 175,05s 137,067 777,951 1^3,182 107,89s 118,763 54,461 213,901+ Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 3,2S1,200 296,617 773,706 217,000 285,215 156,31+0 85,385 812,513 11+1,936 112,500 122,5^0 61*675 215,763 Eligible paper S.S37 1,198 5,831 800 384 89 179 200 61 ~ 51 TJ. S. Govt, securities 235,000 — 43,000 35,000 30,000 70,000 8,000 5,000 44,000 Total collateral 3,525.037 297,815 779,537 260,800 320,599 186,429 155,56!+ 812,713 1^9,997 112,500 127,591* 61,675 259,814 FEDERAL RESERVE BALTIC HOTS STATEMENT ON DECEMBER 5, 1934 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve bank notes: Issued to F.R.bank( outstanding) 38,529 1,5H 26,810 10,208 — Held by Federal Reserve "bank 11,052 451 393 10,208 — — — — — In circulation - net* 27,477 1,060 26,417 Collateral pledged against outstanding notes: Discounted and purchased bills 43,fe74 5,000 26,874 12,000 — U. S. Govt, securities 43,374 5,000 26,874 12,000 Total collateral •Does not include $81,913,000 of Federal Reserveb ank 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