H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR 2HE PRESS Released for publication St.6590 Friday morning, May lb; Federal Reserve Board not earlier. May 15, I93O CONDITION OF FEDERAL RESERVE BANKS The consolidated statement of condition of the Federal reserve "banks on May l4, made public by the Federal Reserve Board, shows decreases for the week of $27,000,000 in holdings of discounted bills and $4,200,000 in bills bought in open market. Member bank reserve deposits increased $29,900,000 and cash reserves $6,100,000, while Government deposits declined $21,000,000 and Federal reserve note circulation $28,100,000. Total bills and securities were $31,100,000 below the amount reported a week ago. The principal changes in holdings of discounted bills for the week were decreases of $26,900,000 at the Federal Reserve Bank of New York, $3,900,000 at Chicago and $2,500,000 at San Francisco, and increases of $4,600,000 at Boston and $2,000,000 at Cleveland. The System's holdings of bills bought in open market declined $4,200,000, of U. S. bonds $2,700,000 and of Treasury bills and certificates $4,300,000, while holdings of Treasury notes increased $7,100,000. Federal reserve note circulation was $28,100,000 less than a week ago, all Federal reserve banks except Cleveland reporting decreases for the week. The principal changes by Federal reserve banks were decreases of $8,900,000 at Chicago, $4,900,000 at New York, $3,600,000 at Boston and $2,400,000 at Atlanta, and an increase of $2,400,000 at Cleveland. A summary of the principal assets and liabilities of the reserve banks, together with changes during the week and the year ending May l4, 1930, follows: Increase or decrease since May l4. 1930 May 7. 1930 May 15. 1929 (In thousands of dollars) Total reserves . 3,248,259 + 6,135 +236,736 Gold reserves 3,074,082 + 5,913 +235,959 Total bills and securities 920,023 -31,072 -304,326 Bills discounted, total 210,486 -26,962 -704,113 Secured by U. S. Govt, obligations. 83,543 -23,077 -429,294 Other bills discounted 126,943 - 3,885 -274,819 Bills bought in open market . . .. 171,035 - 4,168 + 24,928 U. S. Government securities, total . 527,902 + 58 +372,076 Bonds 52,431 - 2,714 + 2,031 Treasury notes 193,816 + 7,067 +103,206 Certificates and bills . . . .. 281,655 - 4,295 +266,839 Federal reserve notes in circulation . 1,464,897 -28,097 -181,761 m, 'otal deposits 2,420, 83O + 7,821 + 55,322 Members' reserve deposits 2,379,360 +29,914 + 59,473 Government deposits 12,837 -20,957 84i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Heleased fot publication Friday morning, May lo,1930; not earlier. St. 5590a RESOURCES AID LIABILITIES OF THE TSELVZ Z335R1L E3S2SVB BANKS C0L3I1TED (in thousands of dollars) May 14,1930 May 7,1930 May 15,1929 R E S O U R C ES Gold with Federal reserve agents i,64o,Si4 1,659,814 1,329,117 Gold redemption fund with U.S. Treasury . 40,722 41,097 65,071 Gold held exclusively against F.R.notes 1,651,536 1,700,911 1,394,188 Gold settlement fund with F. R. Board . . 597,981 598,889 654,848 Gold and gold certificates held by banks . 794,565 768,369 789,087 Total gold reserves . . . .. 3,074,082 3,068,169 2,838,123 Reserves other than gold 174,177 173,955 173,400 Total reserves . . .. 3,248.259 3,242,124 3,011,523 Uon-freserve cash . . 66,349 53,890 83,981 Bills discounted: Sec. by TJ.S. Government obligations . . 83,543 106,620 512,837 Other bills discounted 126,943 130,828 401,762 Total bills discounted . . .. 210,486 237,448 914,599 Bills bought in open market 171,035 175,203 146,107 U. S. Government securities.; 52,431 55,145 50,400 Treasury notes . .. 193,816 186,749 90,5IO Certificates <md bills ~ 281,655 285,950 i4,si6 Total U.S. Government securities . 527,902 527,244 155,826 Other securities 10,600 10,500 7,817 'Total bills and securities . . . . 920.023 951,095 1,224,349 Dae from foreign banks 712 711 723 Uncollected items . 724,146 6o7,4i6 847,343 Bank premises 58,580 58,580 58,761 All other resources 12,369 12,202 8,361 TOTAL RESOURCES 5,030,438 4,936,018 5,235,O4I L I A B I L I T I ES F. R. notes in actual circulation . . .. 1,464,897 1,492,994 1,646,658 Deposits: Member bank - reserve account . . . .. 22,,337799,,336600 *2,349,446 2,319,887 Government -. . . 12,837 33,794 13,578 Foreign bank . 5,526 5,337 6,106 Other deposits 23,107 24,432 25,837 Total deposits 2,420,830 *2,413,009 2,365,508 Deferred availability items . . . . . .. 674,399 *559,800 786,019 174,154 174,185 156,296 276,936 276,936 254,398 19,222 19,094 26,162 TOTAL LIABILITIES 5,030,438 4,936,01s 5,235,041 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 23.6$ 83.0# 75-1$ Contingent liability on bills purchased for foreign correspondents 471,648 468,574 367,498 *P.evised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS OH MAY l4, 1930 St. 6590b 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 l,64o,Sl4 174,917 258,594 140,000 180,550 73,000 112,000 269,000 71,345 55,845 75,000 30,800 199,763 Gold redemption fund with U.S. Treasury 40,7 22 1,298 15,174 2,8 8 2 2,385 1,896 2,542 1,814 1,886 1,922 1,635 912 6,376 Gold held exclusively against F.R. notes 1,681,536 176,215 273,768 142,882 182,935 74,596 114,542 270,814 73,231 57,767 76,635 31,712 206,139 Gold settlement fund with F.R. Board 597,981 27,715 192,722 39,289 68,^4 12,245 13,097 118,595 25,6ll I2,06l 28,763 13,259 45,650 Gold and gold certif. held by hanks 794,565 36,693 477,105 34,943 53,430 8,968 6,341 Il6,4s4 7,545 5,359 10,314 9,119 28,264 Total gold reserves 3,074,082 240,623 943,595 217,114 305,339 96,109 133,980 505,893 106,387 75,187 115,712 54,090 280,053 Reserves other than gold 174,177 12,359 57,769 10,692 11,503 7,157 14,682 i6,6i4 13,046 4,02s 8,023 7,387 10,917 Total reserves 3,248,259 252,982 1,001,364 227,806 316,842 103,266 148,662 522,507 119,433 79,215 123,735 61,477 290,970 Uon-reserve cash 66,349 7,796 11,380 3,970 4,357 4,205 5,076 10,085 5,092 2,073 2,346 4,46i 5,508 Bills discounted: Secured by U.S. Govt, obligations 83,543 9,306 16,494 14,680 15,757 3,707 1,437 9,720 44,,884477 668855 2,910 886699 3,131 Other bills discounted 126,943 10,272 13,810 13,839 7,217 13,100 23,49s 8,247 9,659 3,26s 11,808 6,907 5,318 Total bills discounted 210,486 19,578 30,304 28,519 22,974 16,807 24,935 17,967 14,506 3,953 14,718 7,776 8,449 Bills bought in open market 171,035 14,675 35,307 5,549 13,947 9,oo4 16,405 17,393 10,437 6,943 11,67s 6,412 23,285 U. S. Government securities: Bonds 5522,,443311 1,190 12,806 978 670 1,299 113366 2200,,556644 664455 44,,779911 707 3,279 336666 Treasury notes 193,816 12,888 65,182 17,508 22,939 3,730 4,568 16,554 11,576 8,211 5,172 7,073 18,415 Certificates and bills 281,655 26,245 99,875 27,639 26,387 7,611 4,129 33,531 7,047 10,446 10,546 10,285 17,914 Total U.S. C-ovt. securities 527,902 40,323 177,863 46,125 49,996 i2,64o 8,333 70,549 19,263 23,44s 16,425 25,637 3 6,695 Other securities 10,600 1,000 8,600 - 1,000 - - - - - - - - - Total bills and securities 920,023 75,576 252,074 81,193 86,917 38,451 50,173 106,009 44,211 34,344 42,821 39,825 68,429 Dae from foreign banks 712 53 234 69 71 30 26 95 26 17 21 21 49 Uncollected items 724,146 75,165 206,175 60,612 71,632 50,854 20,688 95,314 32,075 12,824 38,767 24,035 36,005 Bank premises 58,580 3,580 15,664 1,762 7,059 3,2o4 2,653 8,295 3,811 2,018 3,972 1,376 4,631 All other resources 12,369 60 4.312 275 1,16s 630 3,529 397 308 463 327 4o7 493 TOTAL RESOURCES 5,030,43s 415,212 1,491,203 375,687 488,o46 200,64o 230,812 742,702 204,956 130,954 211,989 132,102 4O6,135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

• ESSOtlRCES-AID LIABILITIES OP THE FEDERAL RESERVE BANKS OH MAY l4, 1930 L I A B I L I T I ES (in thousands of dollars) st. 6590c Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.B.notes in actual circulation 1,464,897 156,792 165,213 138,075 183,213 67,145 125,851 237,802 75,990 57,511 73,o4o 31,338 152,927 Deposits: Member hank - reserve account 2,379,360 149,724 972,566 137,964 185,421 64,386 64,465 350,724 77,012 50,210 89,520 61,520 175,848 Government 12,837 362 2,469 356 1,266 1,098 1,061 770 898 667 1,024 1,232 1,634 Foreign "bank 5,526 397 1,927 5 21 536 .225 193 719 193 123 l6l l6l 370 Other deposits 23,107 85 11,307 165 i,46o 92 96 633 248 152 89 31 8,699 Total deposits 2,420,830 150,568 988,269 139,006 188,683 65,801 65,815 352,896 78,351 51,152 90,794 62,944 186,551 Deferred availability items 674,399 74,104 181,661 54,133 69,496 48,323 20,717 88,809 32,817 11,142 34,279 23,721 35,197 Capital paid in 174,154 11,672 69,7:6 16,738 15,899 5,902 5,382 20,315 5,373 3,089 4,330 4,360 11,328 Surplus 276,936 21,751 80,001 26,965 29,l4l 12,496 10,857 40,094 10,877 7,1^3 9.162 8,935 19,514 All other liabilities 19,222 325 6,293 770 i,6i4 973 2,190 2,786 1,548 917 384 804 6l8 TOTAL LIABILITIES 5,030,438 415,212 1,491,203 375,687 488,o46 200,64o 230,812 742,702 204,956 130,954 211,989 132,102 4O6,135 Reserve ratio (per cent) 83.6 82.3 86.8 82.2 85.2 77.7 77.6 . 88.5 77.4 72.9 75-5 , 65.2 85.7 Contingent liability on hills purchased for .foreign correspondents 471,648 34,970 154,557 45,839 47,256 19,848 17,012 63,324 17,012 10,869 14,177 14,177 32,607 P.R.notes on hand (notes rec'd from P.R.Agent less notes in circulation)335,978 32,4l7 60,168 23,204 32,259 23,667 26,822 4l,031 14,262 5,889 10,919 10,318 55,022 FEDERAL RESERVE NOTE ACCOUNTS OF FEDERAL RESERVE AGENTS P.R.notes rec'd from Comptroller 3,071,992 301,109 688,801 204,579 296,547 117,897 228,533 516,143 108,052 97,200 123,789 84,993 304,349 P.R.notes held by P. R. Agent 1,271,117 111,900 463,420 43,300 81,075 27,085 75,860 237,310 17,800 33,800 39,830 43,337 96,4oo F.R.notes issued to P.R.Bank 1,300,875 189,209 225,381 161,279 215,472 90,812 152,673 278,833 90,252 63,4oo 83,959 41,656 207,9^ Collateral held as security for F.R.notes issued to F.R.Bank: Gold and gold certificates 402,108 35,300 229,96s 39,900 15,550 5,000 6,000 9,245 11,845 i4joo 35,ooo Gold fund - P. R. Board 1,233,706 139,617 28,626 100,100 165,000 68,000 106,000 269,000 62,100 44,ooo 75,000 16,500 164,763 Eligible paper 367,661 34,175 57,462 31,551 36,299 25,547 4o,925 35,186 23,987 10,747 26,253 13,987 31,5^2 Total collateral 00s,475 209,092 316,056 171,551 216,849 98,547 152,925 304,186 95,332 66,592 101,253 44,787 231,305 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days lo to 30 days 31 ifcQ 60 days 6l to 90 days Over 6 months 6 months Bills discounted 210,436 124,065 19,154 30,082 16,254 19,lo0 1.771 Bills bought in open market 171,035 86,374 38,448 36,375 9,417 421 Certificates and bills 281,655 26,000 1 49,642 48,355 84,736 72,921 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis