H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication St. 6573 Friday morning, May 2; Federal Reserve Board not earlier May 1, 1930 CONDITION OF FEDERAL RESERVE BASKS The consolidated statement of condition of the Federal reserve "banks on April 30, made public "by the Federal Reserve Board, shows increases for the week of $22,000,000 in holdings of discounted Mils and $2,100,000 in U, S, Government securities, and a decrease of $*+7,300,000 in holdings of bills bought in open market. Member bank reserve deposits increased $21,400,000 and cash reserves $26,800,000, while Government deposits declined $12,500,000 and Federal reserve note circulation $11,100,000. Total bills and securities were $22,700,000 below the amount reported a week ago. The principal changes in holdings of discounted bills far the tieek were increases of $7,100,000 at the Federal Reserve Bank of New York, $4,300,000 at San Francisco, $3,600,000 at Atlanta, $2,500,000 at Richmond and $2,300,000 at Philadelphia, and a decrease of $2,200,000 at Cleveland. The System's holdings of bills bought in open market declined $47,300,000 and of Treasury notes $1,000,000, while holdings of Treasury bills and certificates increased $3,200,000. Federal reserve note circulation declined $8,100,000 at the Federal Reserve Bank of Chicago, $1,400,000 at Kansas City and $1,000,000 each at Boston, Richmond and Dallas, and increased $1,200,000 at New York. A summary of the principal assets and liabilities of the reserve banks, together with changes during the week and the year ending April 30, 1930, follows: Increase or decrease since Apr. 30.1910 Apr. 21.1910 May 1. 1929 (in thousands of dollars) Total reserves 3,251,597 + 2b,821 +265,835 Gold reserves 3,072,660 + 26,260 +260,630 Total bills and securities 982,225 22,73S -347,020 — Bills discounted, total . . . . .. 233,452 + 21,961 -752,377 Secured by U.S.Govt, obligations. 105,979 + 12,850 -442,017 Other bills discounted 127,473 + 9,111 -310,360 Bills bought in open market . . .. 209,564 47,305 + 39,143 - U. S.Government securities, total , 529,509 + 2,121 +372,779 Bonds 66,136 4s + 15,752 - Treasury notes . . .. 175,491 1,034 + 91,013 - Certificates and bills 287,882 + 3,203 +272,014 Federal reserve notes in circulation , 1,507,268 11,076 -156,371 - Total deposits 2,433,933 + 11,747 + 23 , 575 Members' reserve deposits 2,384,721 + 21,407 + 48,904 Government deposits . . 22,674 12,526 - 11,218 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 2,1930; not earlier. St. 6573a RESOURCES AETD LIABILITIES 0? m: T'TELVE FEDSR.IL RES1BV3 BA1TKS COMBINED (in thousands of dollars) Apr. 30.1930 Apr. 23,1930 May 1,1929 R E S O U R C ES Gold with Federal reserve agents . . .. 1,642,214 1,654,164 1,317,449 Gold redemption fund with U. S. Treasury 4l,097 4l,l42 61,172 Gold held exclusively against F.R.notes 1,633,311 1,695,306 1,378,621 Gold settlement fund with F. R. Board , 634,84% 615,295 671,114 Gold and gold certificates held "by banks 754,502 *735,*799 762,295 Total aold reserves 3,072,660 *3,046,400 2,812,030 Reserves other than gold . . . . . . .. 173,937 *178,376 173,732 Total reserves . . . . . 3,251,597 3,224,776 2,985,762 Non-reserve cash 62,607 66,357 74,287 Bills discounted: Sec. by U.S. Government obligations . 105,979 93,129 547,996 Other bills discounted 127,473 118,362 437,333 Total bills discounted . . .. 233,452 211,491 985,829 Bills bought in open market . . . . .. 209,564 256,869 170,421 U. S. Government securities: Bonds 60,136 66,184 50,384 Treasury notes 175,491 176,525 84,478 Certificates and bills 287,852 284,679 15,868 Total U. S. Government securities 529,509 527,388 150,730 Other securities 9,700 9,215 7,366 Foreign loans on gold - 1 lM99 Total bills and securities . . 982,225 1,004,963 1,329,245 Due from foreign banks 711 711 725 Uncollected items 606,619 549,170 707,771 Bank premises 58,580 5 ^ 80 58,739 All other resources 11,542 11,499 8,358 TOTAL RESOURCES 4,973,881 5,0l6,05b 5,164,887 L I A B I L I T I ES F. R. notes in actual circulation . .. . 1,507,268 1,518,344 1.663,639 Deposits: Llember bank - reserve account . . .. 2,384,721 2,363,314 2,335,817 Government 22,674 ' 35'200 33,892 Foreign bank 5,365 5!775 8,34o Other deposits 21,173 17,*897 32,309 Total deposits 2,433,933 2,422,186 2,4io,35S Deferred availability items 562,769 605,006 656,452 Capital paid in 174,209 174*243 155,958 Surplus 276,936 276,936 254,398 All other liabilities 18,766 19,34l 24,072 TOTAL LIABILITIES . . . 4,973,881 5,016,056 5,164,887 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 32.5$> Si.8^ 73.3% Contingent liability on bills purchased for foreign correspondents 465,458 459,983 349,257 •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 30, 1930 St. 6573b R E S O U R C ES (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,642,214 184,917 258,594 140,000 175,550 73,000 107,400 279,000 72,345 55,845 75.000 30,800 189,763 Gold redemption fund with U.S.Treasury 4l,097 1,347 15,257 2,922 2,385 2,000 2,64l 1,814 1,886 1,922 1,635 912 6.376 Gold held exclusively against F. R. notes 1,683,311 186,264 273,851 142,922 177.935 75.000 110,o4l 280,814 74,231 57,767 76,635 31,712 196,139 Gold settlement fund vrith F.R.Board 634,847 21,806 217,079 29,639 69,896 13,563 14,088 148,100 24,042 17,14-7 38,076 l4,o4g 27,362 Gold and gold certif. held by banks 754,502 35.535 449,Slo 39.317 52,337 8,630 5,851 99,963 8,051 6.459 10.892 9.009 28.842 Total gold reserves 3.072,66o 243,605 940,546 211,878 300,168 97,193 129,980 528,877 106,324 81,373 125,603 54,770 252,343 Reserves other than gold 178.937 13,224 55.663 14,272 13,003 7,014 14,790 •16,330 12,926 4,357 8,589 7.552 11,227 Total reserves 3.251,597 256,829 996,209 226,150 313,171 104,207 144,770 545,197 119,250 85,730 134,192 62,322 263,570 Non-reserve cash 62,607 6,957 11,319 3,633 4,753 4.491 5.091 8,460 4,427 1,503 2,124 4,656 5,173 Bills discounted: Secured by U.S. Govt, obligations 105,979 66,,003388 29,153 15.042 11.721 5.108 1,680 14,645 5,474 975 3,499 1,338 11,306 Other bills discounted 127,473 7,699 12,117 14,539 8,996 13,823 23,972 8,653 10,644 2,706 11,600 6,852 5.872 Total bills discounted 233.452 13,737 4i, 270 29.581 20,717 18,931 25,652 23,29s 16,118 3,681 15.099 8,190 17,17s Bills bought in open market 209,564 15,075 49,794 7.987 19,611 8,978 22,262 19,429 9,863 8,615 11.703 6,420 29,227 U. S. Government securities: Bonds 6666,,113366 1.190 27,200 978 670 1.299 112 20,564 645 4,752 81 8,279 366 Treasury notes 175.491 12,646 53.397 17,318 22,695 3,660 4,508 l6,i4o 11.511 6,503 1,886 6,978 18,249 Certificates and bills 287,882 26,487 114,571 27,829 26,631 7,681 4,172 33,76o 7.112 7,222 3,957 10,380 18,080 Total U.S. Govt, securities 529,509 40,323 195,168 46,125 49,996 l2,64o 8,792 70,464 19,26s 18,477 5.924 25,637 36,695 Other securities 9.700 1,000 7.700 1,000 - - - - - - - - - Total bills and securities 982,225 70,135 293,932 84,693 90,324 40,549 56,706 113,191 45,249 30,773 32,726 4o,247 83,700 53 Dae from foreign banks , r JU , 226 70 72 30 26 97 26 17 22 22 50 Uncollected items 606,619 61,929 166,698 48,650 60,126 42,520 20,840 79.598 25,755 12,576 34,445 20,456 33.026 Bank premises 58,580 3,580 15,664 1.762 7.059 3.204 2,658 8,295 3,811 2,018 3.972 1,876 4,681 All other resources 11,542 53 3.550 174 1,120 632 3,639 382 308 462 334 412 476 TOTAL RESOURCES 4,973,881 399.536 1,487,598 365.132 476,625 195,633 233,730 755.240 198,826 133,079 207.815 129,991 390,676 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BARKS OB APRIL 30, 1930 St. 6573c L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,507,268 159,991 175,803 142,200 182,277 68,726 127,896 254,510 76,000 59,616 74,203 32,409 153,637 Deposits: Member "bank - reserve account 2,384,721 142,622 991,131 134,329 187,220 63,736 64,599 361,241 75,836 51,113 87,285 61,709 163,900 Government 22,674 1,451 2,787 1,306 2,037 2,949 2,433 2,o64 1,809 1,194 1,573 1,067 2,004 Foreign bank 5,365 419 1,568 549 566 237 204 758 204 130 170 170 390 Other deposits 21,173 102 10,528 65 1,317 117 103 504 290 141 69 41 7,896 Total deposits 2,433,933 144,594 i,oo6,oi4 136,249 191,140 67,039 67,339 364,567 78,139 52,578 89,097 62,987 174,190 Deferred availability items 562,769 61,252 149,907 42,218 56,636 40,473 20,012 73,043 26,954 9,74o 30,644 20,548 31,342 Capital paid in 174,209 11,659 69,756 16,727 15,298 5.896 5,461 20,325 5,348 3,096 4,332 4,360 11,351 Surplus 270,936 21,751 80,001 26,965 29,i4I 12,496 10,857 4o,094 10,577 7,143 9,162 8,935 19,514 All other liabilities 18,766 289 6,117 773 1,533 1,003 2,165 2,701 1,508 906 377 752 642 TOTAL LIABILITIES 4,973,881 399,536 1,487,598 365,132 476,625 195,633 233,730 755,240 198,826 133,079 207,815 129,991 390.676 Reserve ratio (per cent) 82.5 84.3 ' 84 -.3 . 81... 2 83.9 76.8 '74.2 38.1 77.4 76.4 82.2 65.3 80.4 Contingent liability on "bills purchased for foreign correspondents 465,458 34,018 156,999 44,591 45,970 19,308 16,549 61,600 16,549 10,573 13,791 13,791 31.719 F.H.notes on hand (notes rec'd from F.R.Agent less notes in circulation) 319,719 28,908 54,484 24,165 30,66i 22,619 25,932 37,430 16,324 4,784 9,991 10,194 54,227 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS TP.R.notes rec'd from Comptroller 3,100,743 305,799 687,976 207,865 296,718 120,455 229,778 525,250 110,124 98,850 124,524 86,540 306,864 F.R.notes held by F. R. Agent 1,273,756 116,900 457,689 41,500 83,780 29,110 75,950 233,310 17,800 34,450 4o,33Q 43,937 99,000 F.R.notes issued to F.R. Bank 1,826,987 188,899 230,287 166,365 212,938 91,345 153,828 291,9140 92,324 64,4oo 84,194 42,603 207,8& Collateral held as security for F.R.notes issued to F.R. Bank: Gold and gold certificates 402,108 35,300 229,968 39.900 15.550 5.000 6,000. - 9,245 11,845 14,300 35,000 Gold fund - F. R. Board i,24o,io6 149,617 28,626 100,100 160,000 6s,ooo ioi,4oo 279,000 63,100 44,000 7K,ooo 16,500 154,763 Eligible payer 430,307 28,735 87,677 34,758 38,740 27,015 47,083 42,546 24,683 12,065 26,500 14,204 46,801 Total collateral 2,073,021 213,652 346,271 174,758 214,290 100,015 154,483 321,546 97,028 67,910 101,500 45,oo4 236,564 MATURITY DISTRIBUTION OF BILLS AIJD SHORT TERM SECURITIES s. r, 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 6,months Over 6 months Bills discounted 233,452 149,986 17,292 29,723 18,878 14,362 3,211 Bills bought in open market 209,564 110,370 44,260 39,864 11,913 3,157 Certificates and bills 287,882 1,580 26,000 50,802 39,500 91,151 78,849 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis