H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication St. 6661 Friday morning, July 25; Federal Reserve Board not earlier July 24, 1930 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve tank credit outstanding during the week ending July2$, as reported by tiie Federal reserve "banks was $977,000,000, a decrease of $37,000,000 compared with the preceding week and of $361,000,000 compared with the corresponding week of 1929. On July 23 total reserve bank credit outstanding amounted to $946,000,000, a decrease of $$4,000,000 for the week, dhis decrease corresponds with a decline of $40,000,000 of money in circulation, and $28,000,000 in member bank reserve balances, offset in part ty a decline of $17,000,000 in monetary gold stock. Holdings of discounted bills declined.; $16,000,000 during the week, the principal decreases of $7,000,000 and $5,000,000, being reported by the Federal Beaerve Banks of Cleveland and New York, respectively, Tie System's holdings of bills bought in the open market declined $18,000,000 and of Treasury certificates and bills $18,000,000, while holdings of Treasury notes increased $17,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 23, 1930 were as follows: Increase or decrease since July 23 July 16 July 24 1930 1910 1Q29 (in millions of dollars) Bills discounted 191 16 - 873 Bills bought 1 1 18 + 81 5 United States securities 576 1 + 430 Other reserve bank credit 29 18 - 22 TOTAL RESERVE BANK CREDIT 946 5k - 383 Monetary gold stock 4,523 17 + 177 Treasury currency adjusted 1.793 3 + 4 Money in circulation 4,407 4o - 297 Member bank reserve balances 2,432 28 + 75 Unexpended capital funds,nonmember deposits, etc. 423 5 + 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 25,1930; not earlier. St. 666la RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 23.1930 July 16.1930 July 24.1929 R E S O U R C ES # Gold with Federal reserve agents . . .. 1,558,214 1,572,914 1,504,983 Gold redemption fund with U.S. Treasury . 36,814 36,714 88,842 Gold held exclusively against F.R.notes 1,595,028 1,609,628 1,593,825 Gold settlement fund with F. R. Board . 601,767 583,052 608,264 Gold and gold certificates held by banks 827,432 838,065 741,643 Total gold reserves 3,024,227 3,030,745 2,943,732 Reserves other than gold 169,834 166,490 182,011 Total reserves 3,194,06l 3,197,235 3,125,743 Non-reserve cash 67,835 68,547 75.804 Bills discounted: Secured by U.S.Government obligations 59,629 *70,357 %84,73 6 Other bills discounted . . . . . . .. 130,94l *136,673 79,220 Total bills discounted . . .. 190,570 207,030 1,063,956 Bills bought in open market 150,523 168,667 68,842 U. S» Government securities: Bonds 42,750 42,900 42,663 Treasury notes 260,835 243,696 81,155 Certificates and bills . 272,554 290,522 21,882 Total U. S. Government securities 576,139 577,118 145,700 Other securities 7,323 7,301 10,250 Total bills and securities . . .» 924,555 960,116 1,288,748 Due from foreign banks 705 705 728 Uncollected items 553,600 670,370 691,616 F. R. notes of other banks 22^175 22,169 26,564 Sank premises 59 *572 59.561 58,725 All other resources 13^146 12,596 10,454 TOTAL RESOURCES 4,835,649 4,991.299 5.278,382 L I A B I L I T I ES F. R. notes in actual circulation . . . 1,356,180 1,382,349 1,780,403 Deposits: Member bank - reserve account . . .. 2,432,086 2,460,457 2,356,917 Government 18,882 16,629 17.257 Foreign bank 5,760 6,247 7,376 Other deposits 27,884 32.924 20,577 Total deposits . . . .. 2,484,612 2,516,257 2,402,127 Deferred availability items 532,922 631,545 651,948 Capital paid in 169,882 169,484 161,4o6 Surplus . . 276,936 276,936 254,39s All other liabilities . 15,117 14,728 28,100 TOTAL LIABILITIES 4,835,649 4,991.299 5,278,382 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 83.2$ 82.0# 74.7# Contingent liability on bills purchased for foreign correspondents . 481,315 478,082 446,980 •Revised figures. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 23, 1930 St. 666lb (In thousands of dollars) R E S O U R C ES Minn. Kans.Cy. Dallas San Fran. 47,845 75,000 24,300 219,763 891 1,564 985 6,253 £u f1 6 U'^ ' I ' . SS 1 9S :« t n! 25,285 226,016 48,736 76,564 13,032 28,6o4 12,741 30,551 28,021 5,436 9,756 9,652 s ^ r s L ' s - i v ^ r * ' f i ll s f i l ' -a s:i S l - l i ls ag 67,204 114,924 47,678 284,588 3,024,227 228,993 1,009,543 211,940 322,338 120,069 433,228 98' 85,457 5 Total gold reserves 4.750 5,900 7.605 11,248 169,834 12.412 9,158 16,109 49,948 8,754 8,849 21,6^9—13,452 Reserves other than gold 71,954 120,824 55,283 295,836 3,194,061 241,405 1,059,491 220,694 331,^96 9^.306 136,17S 454,877 nl»Tl7 Total reserves 1,787 2,099 3,813 5,203 67,835 16,224 6,l6l 3,499 4,6lO 4,667 5,515 9,393 M 64 Non-reserve cash Bills discounted: 59,629 3,234 11,255 10,845 10,466 3,667 847 8,451 3,382 535 7 2 ,4 ,3 3 2 4 1 1 1 0 ,7 ,4 86 3 8 2,8 i 5 }0 ,5 66 Secured by U.S. Govt, obligations 130,941 5,661 15,680 10,127 6,968 15,779 26,781 8,870 13,921 3,716 Other T h o i ta l l ls h d i i l s l c s o d u is n c t o ed u nted 190.570 1 8 9 , ,0 89 0 5 5 26,935 20,9 8 7 8 2 8 1 l 7 4 ,4 ,o 34 65 1 7 9 , , 8 4 5 4 6 6 2 9 7 , , 0 6 6 2 8 s 2 1 2 7 , , 9 3 1 2 0 1 1 5 7 , , 8 3 4 0 7 3 4 7 , , 2 2 5 2 1 7 9 5 , , 7 5 5 6 5 8 1 5 2 ,3 ,2 91 24 1 8 5 ,4 , 0 5 6 2 3 Bills bought in open market 150,523 37,175 U. S. Government securities: 42,750 1,296 2,798 765 1,313 107 20,681 654 4,952 12,0 3 2 57 7 8 9 ,3 ,4 1 4 3 o 462 19,012 Bonds 260,835 16,900 93,222 28,084 6,342 6,715 23,253 14,503 9,887 16,352 10,417 17,2a Treasury notes 272,55% 26,064 84,197 27,700 26,493 7,939 4,603 33,673 7,486 10,409 Certificates and bills 576,139 44,260 180,217 50,202 55,342 15,59% 11,425 77,607 22,643 25,248 Total U. S. Govt, securities 7,323 1,000 5,250 1,000 73 Other securities 44,059 45,785 60,624 924,555 73,160 249,577 86,841 42,896 48,121 117,838 45,793 36,799 Total bills and securities 16 a a 49 25 705 52 231 71 30 95 25 Due from foreign banks 14,095 70,828 22,325 10,476 33,882 19,337 27,993 553,600 57,006 151,115 57,1^9 39,899 Uncollected items 897 3,086 1,293 1,182 2,095 438 2,823 22,175 233 6,811 1,428 1,540 F. R. notes of other banks 2,65s 8,295 3,811 2,018 Bank premises 5 ^ 9 ^ , 5 _5 72 13 3 ,580 15,664 7,059 3,214 3,208 588 517 hU2 u3t 4 >li All other resources 13,146 8" ,4a 1,065 |4S 4,835,649 381,680 1,504,534 349,980 489,719 187,100 ao,697 665,000 190,345 124,745 207,178 126,998 397,673 TOTAL RESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OP THE FEDERAL RESERVE BtoKS "0H JULT' 23 , 1930 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 1,356,180.141,064 158,714 123,864 125,966 62,868 116,165 187,158 69,751 51,676 69,235 31,557 158,162 Deposits: Member bank - reserve account 2,432,086 147,975 1,033,682 138,077 199,447 62,832 59,331 3^4,134 76,977 50,206 91,555 59,362 168,508 Government 18,882 1,407 1,848 523 1,264 3,632 1,679 1,916 1,003 1,055 894 1,578 2,083 Foreign "bank 5,760 1,668 610 256 220 817 220 l4o 183 421 Other deposits 27,884 % l6,o4i 1,994 58. 771 SET. 322 162 *8 31 7,711 Total deposits 2,484,612 149,895 1,053,239 139,332 203,315 66,778 62,001 347,394 78,522 51,563 92,696 61,154 178,723 Deferred availability items 532,922 57,953 142,026 42,526 54,240 14,155 68,074 24,553 10,438 31,509 20,311 29,7%0 Capital paid in 169,882 11,845 65,584 16,780 15,878 5,395 20,174 5,276 3,066 4,348 4,349 11,343 Surplus 276,936 21,751 80,001 26,965 29,141 12,496 10,857 40,094 7,143 9,162 8,935 19,514. All other liabilities 15,117 72 4,970 513 1,179 817 2,124 2,106 f : S5 859 228 §22 191 TOTAL LIABILITIES 4,835,649 381,680 1,504,534 349,980 489,719 187,100 210,697 665,000 190,345 124,745 207,178 126,998 397,673 Reserve ratio (per cent) 83.2 83.0 87.4 83.9 85.2 72.7 76.4 85.1 75-3 69.7 74.6 59.6 87.8 Contingent liability on bills purchased for foreign correspondents 481,315 35,547 158,988 46,596 48,037 20,176 17,293 64,369 17,293 11,o49 i4,4n l4,4li 33,145 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent n - m• . •g Held by Federal reserve bank * • »« ' f cg a: ' £ is %% s# % as In actual circulation 1,356,180 l4l,o64 158,714 123,864 185,966 62,868 116,165 187,158 69,751 51,676 69,235 31,557 158,162 Collateral held by agent as security for notes issued to bank: Gold and gold certificates %2,908 35.300 229,968 39,900 15,550 5,000 7,100 8,9^5 11,845 14,300 35,000 Gold fund - F. R. Board 1,155,306 129,617 28,626 100,100 180,000 60,000 96,100 199,000 56,100 36,000 75,000 10,000 184,763 Eligible paper 317,947 27,821 45,196 20,042 29,859 27,255 36,617 4o.o66 23,082 11.416 15,260 17,548 23,785 Total collateral 1,876,161 192,738 303,790 160,042 225,409 92,255 139,817 239,066 88,127 59,261 90,260 41,848 243,51# MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days ^ t h s° Over 6 months Bills discounted 190,570 99,648 17,947 29,033 28,739 15,067 136 Bills bought in open market 150,523 73,456 30,306 28,720 15,592 2,4% Certificates and bills 272,554 48,027 94,576 72,114 57,837 Municipal warrants 73 51 22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis