H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released, for publication st. 6710 Friday morning, .Sept. 5; Federal Reserve Board not earlier September 4, 1930 CONDITION OF FEDERAL RESERVE BAMS ' Ohe daily average volume of Federal reserve bank credit outstanding during tiie week ending September 3 as reported by the Federal reserve banks was $1,02S,000,000, an increase of $1+5,000,000 compared with the preceding week and a decrease of $385,000,000 compared with the corresponding week of 1929. On September 3 total reserve bank credit amounted to $1,0^1,000,000, an increase of $57,000,000 for the week. This increase corresponds with an increase of $65,000,000 in money in circulation and decreases of $3,000,000 in monetary gold stock and $14,000,000 in Treasury currency, offset in part by a decrease of $26,000,000 in member bank reserve balances. Holdings of discounted bills increased $38,000,000 during the week, the principal changes being increases of $32,000,000 at the Federal Beserve Bank of New York and $3,000,000 each at Atlanta and St. Louis, The System's holdings bills bought in open market increased $7,000,000 and of Treasury notes $14,000,000, while holdings of United States bonds declined $12,000,000 and of Treasury certificates and bills $2,000,000. . Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September 3, 1930, were as follows: Increase or decrease since Sept. 3 ^ug. 27 Sept. 4 -19 P 1930 jq 29 (In millions of dollars) Bills discounted 231 + 38 -S15 Bills bought 170 + 7 -13 United States securities 602 +453 Other reserve bank credit 37 + 12 - 17 TOTAL RESERVE BANK CREDIT i,o4i + 57 -391 Monetary gold stock 4,501 Treasury currency adjusted — 3 +132 1,776 14 - + 12 Money in circulation 4,513 , + 65 -316 Member bank reserve balances 2,393 - 26 + 73 Unexpended capital funds,nonmember deposits,etc. , 412 + l + l w. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 5,1$30; not earlier. St.6710a ^ RESOURCES A2TD LIABILITI3S OF THE T7JELVE FLDERAL BESES1/I! BASKS COMBINED (in thousands of dollars) Sept. 3,1930 Aug. 27,1930 Seot. 4,1929 R E S O U R C ES Gold with Federal reserve agents . . .. 1,564,956 1,575,256 1,540,669 Gold redemption fund with U. S. Treasury 35,391 35,919 67,109 Gold held exclusively against F.R.notes 1,600,347 1,611,175 1,607,773 Gold settlement fund with F. B. Board . 570,534 5oo,304 711,637 Gold and gold certificates held by banks 763,657 776,453 623,953 Total gold reserves . . .. . 2,934,538 2,955,932 2,943,356 Reserves other than gold . .. 151,650 163,721 172,829 Total reserves . . . . 3,086,238 3,119,653 3,116,197 Hon-reserve cash 61,633 70,310 57,793 Bills discoxinted: Secured by U.S.Government obligations 76,510 62,197 541,074 Other bills discounted . 154,750 131,078 504,942 Total bills discounted . . .. 231,260 193,275 1,046,016 Bills bought in open market . 170,395 163,274 118822,,991166 U. S. Government securities: Bonds 64,056 75.327 42,722 Treasury notes 315,568 302,045 91,412 Certificates and bills 222,120 22V.)4l 14,846 Total U.S. Government securities 602,o44 601,913 148,980 Other securities 8,572 3,572 16,100 Total bills and securities . 1,012,271 967,034 1,394,012 Dae from foreign banks 704 702 725 Uncollected items . . 566,693 505,962 680,110 F. B. notes of other banks . . . . .. 13,330 19,2)40 36,770 Bank premises 59,609 59,609 53,351 All other resources 16,752 16,733 10,643 TOEAL RESOURCES 4,322*280 4,759,243 5,355,111 L I A B I L I T I ES F. R. notes in actual circulation . . . 11,,336677,,661199 1,337,248 11,,888833,,226677 Deposits: Member bank - reserve account . . .. 2,393,357 2,418,87$ 2,320,176 Government 34,059 25,938 28,703 Foreign bank 6,49s 5,549 4,952 Other dei>osits 20,032 11*651 20,175 Total deposits 2,453,996 2,470,069 2,374,oo6 Deferred availability items . . . . .. 533,919 489,731 642,520 Capital paid in 169,786 169,765 166,75% 276,936 276,936 254,393 All other liabilities 15,024 15,444 34,157 TOTAL LIABILITIES . . .. 4,822,250 -.759,243 5,355,111 Ratio of total reserves to deposit and F. R. note liabilities Combined . . , 80.8# 81.9# 73.2^ Contingent liability on bills purchased for foreign correspondents . 459,330 471,522 453,020 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAHKS 017 SlPT^/iBilR 3, 1930 R E S O U R C ES (In thousands of dollars) St, 6710b Total Boston Hew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran< Gold with Federal reserve agents . I,5b4,956 164,917 305,636 l4o,000 200,550 57,000 97,200 189,000 oO,045 44,545 70,000 21,300 2l4 76] Gold redemption fund with U.S.Treasury 35,391 824 14,539 2,164 1,789 1,279 2,115 1,298 1,697 856 1,512 I,i4% 6^171 Gold held exclusively against F. R. notes 1,600,347 165,74l 320,:Ti 1^2,164 202,339 58,279 99,315 190,298 61,742 45,4oi 71,512 22,447 220,934 Gold settlement fund with F. R. Board 570,584 22,64o 131,783 53,495 76,187 15,645 12,359 131,789 21,645 16,754 36,578 15,247 36 462 Gold and gold certif. held by hanks 7^3,^57 27,327 474,4o5 30,042 55,778 9,415 5.753 103,248 A.807 4,911 7.479 10.009 25^83 Total sold reserves 2,934,588 215,708 926,363 225,701 334,304 83,339 117,427 425,335 93,194 67,066 115,569 47,703 282,879 Reserves other than gold 151,650 12,571 37,299 8,336 7,368 8,913 13,466 22,542 12,134 4,569 5,107 6,197 I3,i4g Total reserves 3,086,238 228,279 963,662 234,037 34l,672 92,252 130,893 447,877 105,328 71,635 120,676 53,900 296,027 Non-reserve cash 61,633 4,760 16,210 3,905 3,880 3,86l 4,230 10,455 3,943 1,104 2,o4S 2,9o4 4.323 Bills discounted: Secured"by U.S.Govt, obligations 76,510 7,351 30,112 8,670 8,155 4,955 926 7,045 2,729 4l5 1,658 2 372 2 122 Other hills discounted 154,750 6,746 33,463 7,823 "* — - — - > - — • * - ' Total bills discounted 231,260 1^,097 63,575 16,493 15,501 21,643 32,l4i 15,762 16,927 4,082 8,703 l4,4o6 7,925 Bills bought in open market 170,395 17,981 49,377 104 16,951 8,819 10,187 13,294 8,925 7,4oo 10,295 7,229 19,833 U. S. Government securities: Bonds 64,056 2,563 13,334 2,282 2,295 2,042 752 22,782 1,324 5,351 672 8,948 1,711 Treasury notes 315,868 21,806 111,310 25,604 33,371 8,253 8,043 30,435 16,323 11,364 14,791 11,586 22,482 Certificates and bills 222,120 21,808 63,102 24,366 22,190 6,688 3,905 28,316 6,252 8,709 13,273 8,695 l4,8l6 Total U.S. Govt, securities 602,o44 46,177 187,746 52,252 57,856 16,933 12,700 81,533 23,899 25,924 28,736 29,229 39,009 Other securities 8,572 1,000 6,550 1,000 22 Total bills and securities 1,012,271 79,255 307,248 69,84% 90,308 47,450 55,028 110,589 4g,75i 37,428 47,734 50,864 66 767 Due from foreign banks 704 52 232 68 71 .30 25 94 25 16 2L 2L ' 49 S ac - ii 1 a -:g 1 11 :i t il 1 15 ai TOTAL RESOURCES 4,822,280 376,254 I,47O,O4O 362,44I 499,623 192,097 213,473 645,631 190,699 124,834 212,233 132,352 401,003 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

* RESOURCES AND LIABILITIES OF TRti FjdMAl RESERVE BAHKo Oj 3. 193C St. 6710c (in thousands of dollars) L I A B I L I T I ES Dallas San Fran. 34,584 163,034 l .M i wM F.R,notes in actual circulation Depociu&: 59,334 170,441 Member bank - reserve account 2,535 1,919 160 369 Government 24 7,385 Foreign "bank 20,082 90 2,310 103 1,457 73 176 521_—— Other deposits 62,053 180,114 Total deposits 1 11 i l l! I ll i ll 21,720 26,875 Deferred availability items 4,358 11,365 Capital paid in 8,935 19.514 Surplus 702 101 All other liabilities 132,352 401,003 4,822!280 176,254 1,470,6k) 362,441 499,623 192,097 213,473 646,631 190,699 124,834 212,233 TOTAL LIABILITIES 55.8 86.3 80.8 ' 80.1 81.5 36.1 85-5 70-2 73-3 86.1 72.2 69.9 73.1 Reserve ratio (per cent) Contingent liability on hills pur- 150,580 44,705 46,088 19,357 16,592 61,758 16,592 10,600 13,826 13,826 31,801 chased for foreign correspondents *59»5-)° FEDERAL RESERVE NOTE STATEMENT 41,459 228,566 Federal reserve notes: . Issued to F.R.hank hy F.R.agent 1,73° ,552 17^,148 112[530 %:865 ^4:%4 ^26:06^ nj66 ^4^3 lQjO.L 6.875 65.532 17:396 368.963 36,405 Held "by Federal reserve hank 34,584 163,034 185,154 126,022 190,522 63,940 113,611 168,365 60,078 50,757 09,809 1,367,619 135,743 In actual circulation Collateral held hy agent as security for notes issued to hanks 8,945 11,845 14,300 35,000 G G o o l l d d a fu n n d d g ~ o l F d . R c . e B rt o i a f r i d c ates 1,1 4 1 4 5 9 , , 0 9 0 50 6 3 1 5 2 , 9 3 , 0 6 0 1 7 2 9 2 7 6 8 7 , , , 6 6 0 2 8 1 0 0 6 1 3 1 4 9 0 , , 0 7 9 , 0 2 1 0 5 00 1 1 3 8 5 1 5 , , , 9 5 0 2 5 0 8 0 0 5 5 3 2 , 0 o , . 0 o 4 0 o l 0 4 9 7 4 0 , 2 i , , o 1 2 o 0 2 0 1 1 - 2 8 8 9 .8 ,0 8 0 0 0 5 2 i 5 , , i 6 o 8 o 4 3 11 2 , , 2 7 5 0 8 0 1 7 8 0 . ,0 9 0 28 0 2 7 1 , t 0 f> 0 8 0 2 1 2 7 7, 9 6 , 3 7 6 6 3 381,935 31,999 Eligible paper 88,928 42,882 242,399 402,316 154,725 232,47s 87,414 139,4a 217,880 85,729 55,803 1,946,891 196,916 Total collateral MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Over 6 months Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months 24,638 4,914 138 231,260 144,447 23,612 33,511 B B i i l l l l s s d bo is u c g o h u t n i t n ed open market 170,395 62,775 53,4 5 1 6 7 6 50,948 1 3 7 , , 1 2 3 1 5 4 86,8 1 3 20 1 83,308 222,120 34,201 Certificates and hills 22 22 DigMitizuedn fiocr iFpRaAlS EwRa rrants http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis