H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released for publication st. 6596 Friday morning, May 23; Federal Reserve Board not earlier. May 22, 1930 CONDITION OF FEDERAL RESERVE BAMS The consolidated statement of condition of the Federal reserve banks on May 21, made public by the Federal Reserve Board, shows increases for the week of $15,800,000 in holdings of bills bought in open market and $400,000 in U. S. Government securities, and a decrease of $500,000 in bills discounted. Member bank reserve deposits declined $5,200,000 and Federal reserve note circulation $12,200,000, idiile Government deposits increased $24,300,000. Total bills and securities were $11,600,000 above the amount reported a week ago. The principal changes in holdings of discounted bills for the week were decreases of $4,600,000 at the Federal Reserve Bank of Cleveland, $1,500,000 at Boston and $1,000,000 at New York, and decreases of $2,400,000 at St. Louis and $1,000,000 each at Atlanta and Dallas. The System's holdings of bills hou^it in open market increased $15,800,000, of Treasury "bills and certificates $10,200,000 and of Treasury notes $900,000, while holdings of U. S. bonds declined $10,700,000. Federal reserve note circulation increased $9,000,000 at the Federal Reserve Bank of New York and declined $6,400,000 at Chicago, $5,700,000 at Philadelphia, $4,600,000 at Cleveland, $1,900,000 at Boston, and $12,200,000 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 21, 1930, follows: Increase or decrease since May 21. 1910 May l4. 1930 May 22.1929 (In thousands of dollars) Total reserves . 3,248,051 208 + 239,920 Gold reserves 3,076,456 + 2,374 + 234,554 Total bills and securities 931,603 + 11 ,580 - 271,913 Bills discounted, total 209,999 - 487 - 694,427 Secured "by U.S.Govt, obligations 76,379 - 7,164 - 426,179 Other bills discounted 133,620 + 6,677 - 268,248 Bills bought in open market . . . 186,884 +15,849 + 48,898 U. S.Government securities, total 528,320 + 418 + 375,033 Bonds 41,776 -10,655 - 8,610 Treasury notes 194,687 + 871 + 102,848 Certificates and bills 291,857 + 10,202 + 280,795 Federal reserve notes in circulation 1,452,663 -12,234 - 186,891 Total deposits 2,438,911 +18,081 + n4,4oo Members' reserve deposits . . , . 2,374,166 - 5,194 + 98,4I4 Government deposits . . . . . . .. 37,088 + 24,251 + 17,797 w. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, May 23,1930; not earlier. St. 6596a RESOURCES MB LIABILITIES 0? THE FEDERAL RJSHRVE BANKS COLBIIOD (in thousands of dollars) Hay a, 1930 May 14,1930 May 22,19% R E S O U R C ES Gold with Federal reserve agents 1,621,714 1,64o,814 1,318,551 Gold redemption fvnd vath U. S. Treasury . . 39»483 4q,722 6l ,196 Gold held exclusively against F.R.notes 1,661,197 1,681,536 1,379,747 Gold settlement fund -Jith F. R. Board . . . 6l4,457 597.981 052,4o4 Gold and gold certificates held by banks . 500,802 794,565 809,751 Total %old reserves 3,076,456 3,074,082 2,841,902 Reserves other than ^old 171,595 174,177 166,229 Total reserves . . .. 3,248,051 3,248,259 3,008,131 69,096 IIon-reserve cash 66,349 85,517 Bills discounted: Sec. by U. S. Government obligations . . 76,379 83,543 502,553 Other bills discounted 133,620 126,943 401,858 Total bills discounted . . 209,999 210,486 904,426 Bills bought in ooen market 186,884 171,035 137,986 U. S. Government securities': Bonds . . . . 41,776 52,431 50,386 Treasury notes 194,687 193,816 91,839 Certificates and bills 291,857 281,655 ll,0o2 527,902 Total U.S. Government securities 528,320 153,287 Other securities 6,4oo lo6oo 7,817 t Total bills and securities . 931,603 920,023 1,203,516 Dae from foreign banks 710 712 726 Uncollected items . 631,038 724,146 691,828 Bank premises 58,646 58,580 58,761 12,369 All other resources 12,2p4 8,319 TOTAL RESOURCES 4,951,348 5,030,438 5,056,79$ L I A B I L I T I ES F. R, notes in actual circulation . . . 1,452,663 1,464,897 1,639,554 Deposits: Member bank - reserve account 2,374,156 27379,560 2,275",752 19,291 Government 37,088 12,357 Foreign bank 5,497 5,526 6,362 23,107 23,106 Other deposits . . . .. 22,l6p Total deposits 2,438,911 2,420,830 2,324,511 Deferred availability items . . . . .. 588,896 674,399 655,2)2 Capital paid in . . 174,240 1^4[154 156,'279 2^6,936 276,936 254,398 All other liabilities 19,702 19,222 26,824 5,056,79s TOTAL LIABILITIES 4,951,348 5,030,438 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 83.5$ 83.6^ 75*9$ Contingent liability on bills purchased for foreign correspondents 46l,l3l 471,648 381,751 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE Z3DERAJ. RESERVE BMICS ON Mil 21, 1930 St. 6596b R E S O U R C ES (In thousands of dollars) Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 189,763 Gold with Federal Reserve Agents 1,o21,7l4 174,917 258,594 140,000 185,550 73.000 110,000 259,000 09,245 55,84$ 75,000 30,800 Gold redemption fund with U.S.Treasury 39,483 1,217 15,076 2:,781 2,252 1,562 2,424 1,637 1,835 1,906 l,b02 903 6,288 Gold held exclusively against F. R. notes 1,661,197 176,134 273,670 142,781 187,802 74,562 112,424 260,637 71,080 57,751 76,602 31,703 196,051 Gold settlement fund with F.R.Board 6l4,457 22,321 204,146 33,6ll 72,026 13,733 11,12% 120,353 27,6o4 12,600 31,072 14,781 51,076 10,016 9,115 Gold and gold certif. held by banks 500,802 35,996 482,249 33,776 53,751 9.129 6,459 119,918 7,787 5,143 27,463 Total gold reserves 3,076,456 234,451 960,065 210,168 313,579 97,424 130,012 500,913 106,471 75,494 117,690 55,599 274,590 Reserves other than gold 171,595 12,2q4 53,065 8,559 12,074 7,374 i4,379 16,444 12,797 4,032 8,163 7,134 10,370 325,653 517,357 119,268 79,526 125,853 Total reserves 3,248,051 246,655 1,018,130 218,727 io4,798 l44,391 62.733 2847q60 Non-reserve cash 69,096 7,711 16,943 4,012 5,057 4,101 4,772 3,725 4,904 1,917 1,762 4,180 5,012 Bills discounted; Secured by U. S. Govt, obligations 76,379 7.244 14,762 15,413 11,342 3,024 1,351 10,193 4,773 335 2,651 1,479 3,257 Other bills discounted 133,620 10,825 14,518 14,013 7.029 13,713 24,152 8,586 12,154 2,846 12,955 7,330 5,494 Total bills discounted 209.999 18,069 29,280 29,431 13,371 16,737 26,003 13,779 16,932 3,231 15,606 3,809 8,751 Bills bought in open market 186,884 17,4-13 50,550 4,689 13,049 8,894 16,606 18,184 9,193 7,015 3,754 7,265 25*267 U. S. Government securities: Bonds 41,776 1,190 2,275 978 670 1,299 121 20,564 645 4,779 607 3,279 366 Treasury notes 194,687 13,190 63.643 17,746 23,243 3,818 4,590 17,339 11,657 8,353 5,294 7,193 is,621 Certificates and bills 291,857 25,943 112,137 27.4oi 26,083 7,523 4,076 33,106 6,966 10,325 10,424 10,165 17,70s 36,695 Total U.S. Govt, securities 528,320 40,323 173,058 46,125 49,996 12,640 8,787 71,009 19,268 23,457 16,325 25,637 Other securities 6,400 1,000 4,400 1,000 Total bills and securities 531,603 76,305 262,232 81,245 Sl,4l6 33,271 51.396 107.972 4-5,398 33,703 40,685 4 l j ll 70,713 Due from foreign banks 710 53 233 69 71 30 26 95 26 l6 21 21 49 29,417 34,317 Uncollected items 631,038 62,864 166,348 56,125 63,634 44,898 19,437 85,781 12,757 33,120 22,34O Bank premises 58,646 3,530 15,664 1,762 7.059 3,2o4 2,658 8,295 3,811 2,018 3,972 1,876 4,747 All other resources 12,2q4 54 4,n4 207 1,177 779 3,491 4i2 305 443 303 4l4 505 TOTAL RESOURCES 4,951,34s 397.722 1,483,720 362,147 484,067 196,031 226,171 728,637 203,129 130,330 205,716 133,275 400,303 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES ASD LIABILITIES OF THE FEDERAL RESERVE BANKS Oil MAY 21, 1930 . L I A B I L I T I ES (in thousands of dollars) St. 6596c 'Total Bgston 2T evr York Phi la. CI eve. Rich. Atlanta Chi c ago St. Louis Minn. Xans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,452,663 154,855 174,226 132,372 175,663 66,711 124,970 231,434 75,764 56,92s 72,580 31,503 152,657 Deposits: Member "bank - reserve account 2,374,156 142,209 971.53b ij4,23> 194,585 65,45s 5l,2S3 351*894 77,413 50,83^ 8?,023 • 63,300 -72,537 Government 37,OSS 3,SSI 17,615 333 1,934 2,082 1,986 1,971 1,510 770 1,5J>3 1,592 1,576 Foreign bank 5.le7 397 1.897 521 537 225 193 719 193 123 161 161 370 Other deposits 22,160 59 11.087 51 1,615 92 64 559 342 150 62 36 S,O43 Total deposits 2,433,911 146,546 1,002,185 135,139 193,671 68,867 63,526 355,143 79,453 51,877 89,584 65,089 182,326 Deferred availability items 533,896 62,376 150,864 50,119 60,099 41,123 19,253 78,872 30,150 io,4oo 29,669 22,6l4 33,357 Capital paid in 174,240 11,822 69,766 16,73s 15,399 5,584 5,370 20,316 5,335 3.100 4,329 4,355 11,326 Surplus 276,936 21,751 80,001 26,965 29,i4I 12,496 10,857 40,094 10,577 7,l43 9,162 5,935 19,514 All other liabilities 19,702 372 6,673 5i4 1,594 1,000 2,195 2,773 1,545 932 392 779 623 4,951,34s 397,722 1,483,720 362,147 484,067 196,081 226,171 728,637 203,12 9130,330 205,716 TOTAL LIABILITIES 133.275 4oo,3o3 Reserve ratio (per cent) S3.5 Sl.s So. 5 31. S 36.3 77.3 76.6 85.2 76.S. 73.1 77.6 64.9 84.9 Contingent liability on bills purchased for foreign correspondents 461,131 33,325 155,955 43,683 45,034 18,914 16,212 60,345 16,212 10,358 13,510 13,510 31,073 F.E.notes on hand (notes rec'd from F.R. Agent less notes in circulation)34l,154 3 2,483 57,751 25,831 35,615 22,311" 26,795 33,993 14,171 5,856 9,935 9,431 61,932 FEDERAL RESERVE MOTE ACCOUNTS OF FEDERAL RESERVE AGENTS F.R.notes rec'd from Comptroller 3,054,437 298,833 655,397 202,503 294,153 115,947 227,875 512,537 107,135 96,154 122,045 33,034 308,789 F.E.notes held by F. E. Agent 1,260,620 111,500 453.420 44,300 79.575 26,925 76,110 242,110 17,200 33,4oo 39.530 42,050 94,200 F.R.notes issued to F.R.Bank 1,793,817 187,335 231,977 153,203 214,278 89,022 151,765 270,427 89,935 62,734 82,515 4O,9S4 2i4,5C9 Collateral held as security for F.E.notes issued to F.E.Bank: Gold and gold certificates '402,008 35.300 229,96s 39,900 15,550 5,000 6,000 - 9,145 11,845 14,300 35.000 Gold fund - F. It. Board 1,219,706 139,617 28,626 100,100 170,000 68,000 io4,ooo 259,000 60,100 44,ooo 75,000 16,500 154,763 Eligible paper 356,821 35,404 76,333 30,898 30,057 25,309 42,306 36,779 25,536 10,131 24,265 15,959 33.844 Total collateral 2,008,535 210,321 334,927 170,898 215,607 98,309 152,306 295,779 94,731 65,976 994265 46,759 223,607 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days • l6 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 209,599 120,809 19.815 31.074 17,202 19,956 1,143 Bill's bought in open market 185,884 103,146 36,754 37,118 9.212 654 Certificates and bills 291,857 47,188 48,350 52,363 74,556 69,300 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis