H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STAT3I.SNT FOR THE PRESS Released for publication St.6580 Friday.morning, May 9; Federal Reserve*Board not earlier. May 8, 1930 CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve banks on May 7, made public by the Federal Reserve Board, shows decreases for the week of $34,400,000 in holdings of bills bought in open market and $1,700,000 in U. S. Government securities and an increase of $4,000,000 in holdings of discounted bills. Member bank reserve deposits declined $35,300,000, Federal reserve note circulation $l4,300,000 and cash reserves $9,500,000, while Government deposits increased $11,100,000, Total bills and securities were $31,100,000 below the amount reported a week ago. _ principal changes in holdings of discounted bills for the week were an j^crease $15>900,000 at the Federal Reserve Bank of New York, and decreases of $6,200,000 at San Francisco, $2,500,000 at St. Louis and $1,800,000 at ^a <^e®ie System's holdings of bills bought in open market declined $34,400,000, of U. S. bonds $11,000,000 and oif Treasury bills and certificates $1,900,000, while holdings of Treasury notes increased $11,300,000. Federal reserve note circulation declined $7,800,000 at the Federal Reserve Bank of Chicago, $5,700,000 at New York, $2,300,000 at Philadelphia, $1,400,000 at Cleveland, and $14,300,000 at all Federal reserve banks. A summary of the principal assets and liabilities of the reserve banks, together with changes during the week and the year ending May 7, 1930, follows: Increase or decrease since May 7. 1910 Apr. 30. 1910 May 8. 1929 (In thousands of dollars) Total reserves . 3,242,124 - .9.^3 +229,845 Gold reserves 3,068,169 - 4,491 +227,222 Total bills and securities 951,095 -31,130 -330,817 Bills discounted, total 237,44s + 3,996 -724,574 Secured by U.S.Govt, obligations 106,620 + 641 -419,194 Other bills discounted . . . .. 130,828 + 3,355 -305,380 Bills bought in open market . . . 175,203 -34,361 + 18,022 U. S. Government securities, total 527,844 - 1,665 +378,356 Bonds 55,1^5 -10,991 + 4,738 Treasury notes '. ' 186,749 +11,258 +102,254 Certificates and bills . . 285,950 - 1,932 +271,364 Federal reserve notes in circulation 1,492,994 -14,274 -170,684 , 3. oC Total deposits 2.413-999 -20,934 + 23,785 Members' reserve deposits . . . [ 2,349,436 -35,285 + 19,403 Government deposits ] 33 : 3 h' +11,120 + 5,159 w. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 9,1930; not earlier. St. 6580a RESOURCES AUD LIABILITIES OF THE TWELVE FEDERAL RESERVE BALTICS COHBHED (In thousands of dollars) May 7,1930 Apr. 30.1930 Hay,,8, 1929 R E S O U R C ES Gold with Federal reserve agents 1,659,814 1,642,214 1,309>905 Gold redemption fund with U. S. Treasury . 4l,097 4l ,097 62,060 Gold held exclusively against F.R.notes 1,700,911 1,683,311 1,371,965 Gold settlement fund with F. R. Board . . 598,889 634,847 678,058 Gold and gold certificates held by hanks . 768,369 754,502 790,924 Total gold reserves 3,068,169 3,072,660 2,84(3,947 Reserves other than gold 173,955 178,937 171,332 Total reserves . . .. 3,242,124 3,251,597 3,012,279 ITon-reserve cash 63,890 62,607 73,317 Bills discounted: Sec. by U. S. Government obligations . . 106,620 105,979 5 25,814 Other bills discounted 130,828 1 27,4-73 436,208 Total bills discounted 237,448 233,452 962,022 Bills bought in open market 175,203 209,564 157,131 U. S. Government securities: Bonds 55.145 66,136 50,407 Treasury notes . 186,749 175,491 84,495 Certificates and bills 28'5,950 287,882 14,586 Total U. S. Government securities 527,844 529,509 149,488 Other securities 10,600 9,700 6,866 Foreign loans on gold - - 6,355 Total bills and securities 951,095 932,225 1,281,912 Dae from foreign banks 7H 711 725 Uncollected items b07,4lo 606,619 657,596 Bank premises 53,580 58,580 58,739 All other resources 12,202 11,542 7,997 TOTAL RESOURCES 4,936,013 4,973,881 5,097,565 L I A B I L I T I ES F. R. notes in actual circulation . . .. 1,492,994 y 1,507,268 1,663,678 Deposits: /; Member bank - reserve account 2,349,4)6 2,384,721 2,330,033 Government . 33,79^ 22,674 28,635 Foreign bank 5,337 5,365 7,238 Other deposits 24,432 21,173 23,308 Total deposits 2'kl^^_3, 2,433,933 2,389,214 00 Deferred availability items 559,810__ 562,769 608,834 <) Capital paid in 174,185 174,209 156,179 Surplus 276,936 276,936 254,398 All other liabilities 19>09^ 18,foS 25,262 TOTAL LIABILITIES 4,936,018 4,973,881 5,097,565 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 83.0$ 82.5fo 74.3/6 Contingent liability on bills purchased for foreign correspondents . . . .. 468,574 465,458 355,195 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BAMS OH MAY 7, 1930 St. 6580b R E S O U R C ES (In thousands of dollars) Total Boston Hew York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal Reserve Agents 1,$59,814 184,917 258,594 140,000 180,550 73,000 111,000 279,000 71,345 55,345 75,000 30,800 199,763 Gold redemption fund with U.$.Treasury 4l,097 1,347 15,257 2,922 2,385 2,000 2,64l l,8l4 1,886 1,922 1,635 912 6,376 Gold held exclusively against F. R. notes 1,700.911 186,264 273,851 142,922 182,935 75,000 113,64l 280,814 73,231 57,767 76,o35 31,712 206,139 Gold settlement fund with F.R.Board 593,889 23,574 159,^2 37,232 69,023 14,573 17.250 127,172 30,273 20,853 39,36o 15,778 44,34$ Gold and gold certif. held "by "banks ~jG83&3 37*^1 1+62,810 37*108 53,646 8,720 6,111 100,76^ 7>5°7 5»6lO 10*502 9 >031 2^,033 t Total gold reserves 3,068,169 247,299 896,113 217,262 305,b04 98,293 137,002 508,750 111,071 84,230 126,503 56,521 279,521 Reserves other than gold 173.955 12,502 55.590 12,685 12,335 6,693 15.197 15,721 13.147 4,055 7,971 7,097 10,962 Total reserves 3,242,124 259,801 951,703 229,947 317,939 104,986 152,199 524,471 124,218 88,285 134.474 63,618 290,433 lion-reserve cash 63,890 6,571 12,646 3,751 4,374 3.964 4,553 9.135 5,143 2,102 1.958 4,083 5.610 Bills discounted: Secured "by U.S. Govt, obligations 106,620 6,06l 43,678 12,638 12,354 4,603 1.675 11.792 4,743 930 2,918 1,520 3.70o 10,108 8,863 3,319 10.907 7,672 7.266 Total "bills discounted 237,448 14,979 57,185 27.770 20,955 17,623 25.190 21,900 13,606 4,249 13.825 9,192 10,974 Bills bought in open market 175,203 15.047 37.011 7,021 16,353 8,146 19,911 14,372 9,430 7.160 11.143 5,681 23,878 U. S. Government securities; Bonds 55,145 15,745 978 670 1.299 107 20,564 645 4,691 581 8.309 366 Treasury notes 186,749 x!:S! 64,626 17,318 22,695 3.660 4,503 16,160 11,511 6.497 1,836 6,993 18,249 Certificates and bills 235,950 26,437 112,492 27,829 26,631 7,681 4,212 33,890 7,112 7.199 3.957 10,380 18,080 Total U.S. Govt, securities 527,844 4o,323 192,863 46,125 %,996 12,640 8,827 70,6l4 19,268 18,387 6,424 25,682 36,695 Other securities 10,600 1,000 8,600 1,000 — - - - - - Total bills and securities . 951,095 71,349 295,659 81,916 87,304 38,409 53,923 106,886 42,354 29,796 31,392 40,555 71,547 Due from foreign banks 711 234 69 71 30 26 26 16 21 21 49 Uncollected items 607,416 , 6 5 3 3 .579 163.975 53,615 55,916 43.612 20,392 75,3^5 29,19% 12,^08 34,686 21,448 33,246 Bank premises 58.580 3,580 15,664 1,762 7,059 3,204 2,658 8,295 3,811 2,013 3,972 1,876 4,681 All other resources 12,202 47 4,149 184 1,139 654 3,601 393 316 450 328 454 487 TOTAL RESOURCES 4,936,018 4Q4,980 1.W4.030 371,244 473,802 194,859 237,35 7 724,620 205,062 135,075 206,831 132,055 406,103 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AEJD LIABILITIES OF THE FEDERAL RESERVE BAUKS GLT HAY 7, 1930 St. 6580c L I A B I L I T I ES (in thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans,;.Cy. Dallas San Fran. F.R.notes in actual circulation 1,492,994^160,388 170,107 139,550 180,861 68,977 128,281 246,716 76,698 59,152 74,664 32,413 154,787 Deposits: Member bank - reserve account 2,349,4^6 143,794 947,990 136,350 190,513 64,190 67,046 343,478 79,511 52,845 86,267 62,015 175,437 Government 33,794 3,740 9,811 2,464 1,470 1,161 3,579 3,128 1,808 1,302 1,509 2,078 1,744 Foreign bank 5,337 397 1,737 521 537 225 193 719 193 123 161 161 370 Other deposits 24,432 128 10,825 110 1,397 97 86 629 229 187 60 44 lo,64o Total deposits 2,41£T999 148,059 970,363 139,445 193,917 65,673 70,904 347,954 8l,74l 54,4£z_6 87,997 64,298 188,191 Deferred availability items 3.0° - 559,810 62,819 147,709 47,348 52,4o8 40,809 19,642 66,781 28,84o 10,3®6 30,280 21,260 31,608 Capitol paid in 174,185 11,660 69,715 16,738 15,898 5,905 5,46o 20,308 5,373 3,092\ 4,330 4,36o 11,346 Surplus 276,936 21,751 80,001 26,965 29,141 12,496 10,857 4o,094 10,877 7,143X1 9,162 8,935 19,514 111 other liabilities 19,094 303 6,135 798 1,577 999 2,213 2,767 1,533 925 398 789 657 TOTAL LIABILITIES 4,936,018 404,980 1,444,030 371,244 473,802 194,859 237,357 724,620 205,062 135,075 206,8311 32,055 4o6,io3 Reserve ratio (per cent) 83.0 84.2 S3.4 S2.3 84.8 78.0 76.4 88.2 78.4 77.7 82.7 65.8 84.7 Contingent liability on bills purchased for foreign correspondents 468,574 34,646 154,419 45,4i4 46,819 19,664 16,855 62,737 16,855 10,768 l4,o46 14,046 32,305 F.R»notes on hand (notes rec'd from F.R.Agent lass notes in circulation)322,196 28,791 53,791 25,385 34,647 a,826 26,099 39,155 14,438 5,130 9,619 9,376 53,939 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGETTS F.R.notes rec'd from Comptroller 3,090,606 ^ F.R.notes held by F. R. Agent 1,275,416 K M F.R.notes issued to F.R.Bank 1,815,190 189,179 223,898 165,335 215,508 90,803 154,380 285,871 91,136 64,282 84,283 41,789 208,726 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 1,257,706 149,617 28,626 100,100 165,000 68,000 105,000 279,000 62,100 44,ooo 75,000 16,500 164,763 Eligible paper 405,267 29,947 92,783 31,767 36,912 25,459 44,668 36,101 22,184 11,299 24,786 14,683 34,678 Total collateral 2,065,08! 214,864 351,377 171,767 217,462 98,459 155,668 315.101 93,529 67,144 99,786 45,483 234,44I MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days ^^ths° Over 6 months Bills discounted 237,448 153,260 18,888 29,991 16,483 17,047 1,779 Bills bought in open market 175,203 99,090 32,293 29,864 12,082 1,874 Certificates and bills 285,950 26,000 973 48,350 82,691 73,936 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis