H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE HIESS Released for publication St. 673I Friday morning, Sept. 26; Federal Reserve Board not earlier. September 25, 193O CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending September 24, as reported by the Federal reserve banks, was $999,000,000, a decrease of $9,000,000 compared with the preceding week and of $403,000,000 compared with the corresponding week of 1929. On September 24 total reserve baric credit amounted to $991,000,000, a decrease of $17,000,000 for the week. This decrease corresponds with decreases of $40,000,000 in member bank reserve balances, and $23,000,000 in money in circulation, offset in part by a decrease of $46,000,000 in Treasury currency. Holdings of discounted bills increased $4,000,000 during the week, the principal changes being increases of $3,000,000 each at the Federal Reserve Banks of New York and Cleveland. The System's holdings of bills bought in open market declined $11,000,000, of Treasury notes $3,000,000 and of Treasury bills and certificates $5,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September 24, 193O, were as follows: Increase or decrease since Sept. 24 Sept. 17 Sept. 25 1930 1930 1929 (in millions of dollars) Bills discounted 167 + 4 - 777 Bills bought 198 -11 - 66 United,States securities 602 — g + 450 Other reserve bank credit 24 - 2 - 26 TOTAL RESERVE BANK CREDIT 991 -17 - 420 Monetary gold stock 4,507 - 1 + 132 Treasury currency adjusted 1,770 - 46 + 32 Money in circulation 4,436 -23 - 307 Member bank reserve balances 2,4l6 - 4o + 52 Unexpended capital funds,nonmember deposits, etc. 4l6 -1 w. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, September 26,1930; not earlier. St. 6?3%a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 24.1930 Sept. 17.1930 Sept.25.1929 R E S O U R C ES Gold with Federal reserve agents . . . 1,543,956 1,5^8,956 Gold redemption fund with U.S. Treasury 35>811 35,875 64,11* Gold held exclusively against F.R.notes 1,579*767 1,584,831 1,593*459 Gold settlement fund with F. R. Board 570,102 580,999 T5^"»282 Gold and gold certificates held by "banks 839,062 , 809»810 649,226 Total gold reserves . . . 2,988,931 2,975,640 2,997*567 Reserves other than gold . . . . . .. 151,857 151,828 l64,6o8 Total reserves . . 3,l40,788 3,127,468 3,162,175 Non-reserve cash . . . . . . . . . .. 69,277 66,471 73,617 Bills discounted: Secured "by U.S.Government obligations 48,l46 45,582 443,214 Other bills discounted . 119,016 117,567 501,185 Total bills discounted . . .. 167,162 l63,l49 944,399 Bills bought in open market 197,743 208,861 263,934 U. S. Government securities: Bonds . . . . 38,235 3 8,085 37,66o Treasury notes 292,029 295,261 87,050 Certificates and bills 271,5^2 277,037 27,349 Total U.S. Government securities 6oi,8o6 610,383 152,059 Other securities 6,772 7,022 15,075 Total bills and securities . . 973,483 989*415 1,375,467 Due from foreign banks 701 701 769 Uncollected items . . .. 549,479 722,305 723,655 F. R. notes of other banks . 21,871 23,939 26,774 Bank premises 59*^4 59*642 58,903 All other resources . . . .. 12,062 11,442 10,06l TOTAL RESOURCES . 4,827,305 5,001,383 5,431,421 L I A B I L I T I ES F. R. notes in actual circulation . . . 1,347,720 1,349,329 1,837,899 Deposits: Member bank - reserve account . . .. 2,4l6,153 2,456,282 2,364,434 Government . . . .. 42,59** 3,706 55,285 Foreign bank . . . .. 5,2o3 5,774 7,234 Other deposits 19,534 19*784 19,207 Total deposits 2,483,544 2,485,546 2,446,160 Deferred availability items . . . .. 533,029 704,476 689,263 Capital paid in . . . . . . . . . .. 170,563 169,872 167,028 Surplus 276,936 276,936 254,398 All other liabilities . 15,513 15,224 36,673 TOTAL LIABILITIES . . .. 4,827,305 5,001,383 5,431,421 Ratio of total reserves to deposit and F. R. note liabilities combined . . 82.0$ 81.6% 73*8$ Contingent liability on bills purchased for foreign correspondents 432,624 433,843 455,776 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES JfflD LIABILITIES OF THE FEDERAL RESERVE BANKS ON SEPTEMBER 24, 1930 .....— R . E ... S ... O U — R C ES (In thousa nds u® « e of % do llar e s) St* "E » b '51° i <'ss«t iw Gold redemption fund with U.S.Treaeory. 35,811 51 iZl2££ £i±2i f^J-2 LU — 96,880 129,279 424,021 99,802 70,143 111,020 61,503 282,389 Total reserves 3,140,788 i 222,269 1,085,585 230,184 3 27,713 4,161 5,224 10,023 4,258 1,940 2,090 3,0^6 4,903 69,277 6,784 19,167 3,979 3,702 Non-reserve cash Bi S ll e s c d ur is ed c o b u y n t U e . d S : .Govt, obligations 1 4 1 8 9 , , 1 0 4 1 6 6 4 6 , ,1 09 3 9 2 1 12 1 , , 9 2 0 3 4 4 7 6 , , 6 7 6 6 6 9 7 7 , , 6 5 2 5 3 0 1 3 5 , , 3 7 1 2 1 5 23,7 8 7 3 6 1 5 5 , , 5 78 0 4 2 1 2 4 , , 4 5 4 9 1 5 3,7 3 3 0 5 4 6 2 , , 9 0 5 4 7 7 1 1 0 , , 4 49 6 9 2 1 4 , , 6 5 2 90 6 Other bills discounted 167,162 10,231 24,138 14,435 15,173 19,036 24,607 11,286 17,036 4,039 9,oo4 11,961 6,216 Bills b T ou o g ta h l t b i i n ll s op d en is m co a u rk n e t t e d 197,743 22,468 #,253 104 22,507 10,913 12,660 21,505 10,136 7,684 12,165 9,130 24, as U. S. Government securities: 38,235 756 2,187 64o 237 1,176 199 20,017 523 4,573 42 7,842 43 Bonds 292,029 23,918 76,283 26,979 35,069 8,322 7,859 32,307 16,155 12,660 15,108 12,289 25,080 Treasury notes 271,542 21,502 109,070 24,633 22,549 7,^85 4,848 28,954 7,221 8,710 13,586 9.098 13,886 Certificates and bills Total U.S. Govt, securities 601,806 46,176 187,540 52,252 57,855 16,983 12,906 81,278 23,899 25,9^3 28,736 29,229 39,009 22 6,772 1,000 4,750 1,000 mti. «,d securities 973,483 79.875 260,681 67,791 95.535 "6.932 50,173 h4,o69 51.071 37.688 49,905 50.320 # 5- il :I i li i i i 'i n '1 1" i1 TOm MS0UBCE3 4,827,?05 372.200 1.531.817 355.212 "92,072 192.907 207,233 633.359 184.183 124.991 200.275 137.487 395.569 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BASKS G& SEPTEMBER 24, 1930 L I AB I II T I ES (in thousands of dollars) st. 6731c Total Boston New York Fhila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran* I1.R.notes in actual circulation 1,347,720 130,V49 203,300 120,826 188,331 64,053 110,123 159,372 63,282 51,434 67,517 34,839 154,194 Deposits: Member 'bank - reserve account 2,416,153 144,721 1,026,324 140,955 198,522 63,038 60,5a 338,593 75,187 49,985 87,230 61,703 169,374 Government deposits 42,594 3,927 9,008 2,827 2,278 6,855 2,052 2,686 2,029 l,4oi 1,719 5,635 2,177 Foreign bank 5.263 396 1,673 519 535 225 193 717 193 123 160 160 369 Other deposits 19,534 64 8,260 44 1,535 137 143 508 232 151 1611. 30 7,757 Total deposits 2.483,544 149,108 1,045,265 144,345 202,870 70,255 62,909 342,504 77,641 51,662 89,780 67,528 179,677 Deferred availability items 533,029 59,025 131,488 45,804 54,536 39,512 15,871 69,077 25,758 10,84s ,290 21,097 30,722 Capital paid in 170,563 11,772 66,346 16,796 15,975 5,811 5,357 20,165 5,251 3,054 ,328 4,356 11,352 Surplus 276,936 21,751 80,001 26,<365 29,141 12,496 10,857 40,09% 10,877 7,143 9,162 8,935 19,514 All other liabilities 15,513 95 5,417 <•76 1.219 780 2,116 2.147 1,374 84q 198 112 , HP. TOTAL LIABILITIES 4,827,305 372,200 1,531,817 355,212 492,072 192,907 207,233 633.359 184,183 124,991 200,275 137,487 395,569 Reserve ratio (per cent) 82.0 79.5 86.9 86.8 83.8 72.1 74.7 84.5 70.8 68.0 70.6 60.I 84.6 Contingent liability on bills purchased for foreign correspondents 432,624 32,105 l4l,515 42,083 4],384 18,222 15,618 58,135 15,618 9,979 13,015 13,015 29,935 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent 1,768,803 170,064 336,904 143,544 226,267 84,006 133,819 188,669 78,874 56,784 79,524 41,520 228,828 Held by ZTede^al reserve bank 421,083 39 ,615 133,o04 22,718 37,936 19,953 23.696 29,297 15.592 5.350 12.007 6.681 74.614 In actual circulation 1,347,720 130,449 203,300 120,826 188,331 64,053 110,123 159,372 63,282 51,434 67,517 34,839 154,194 Collateral held by agent as security for notes issued to bank; Gold and gold certificates 4^,950 35,300 277,010 39,900 15,550 5,000 7,100 - 8,945 11,845 14,300 35,ooo Gold fund - F. R. Board 1,094,006 119,617 28,626 100,100 185,000 54,ooo 90,100 l84,ooo 44,ioo 34,700 70,000 9,000 174,763 Eligible paper 352,739 32,619 59,470 13,905 36,420 29,539 37,151 32,625 27,049 11.548 21,066 21,020 30,327 Total collateral 1,896,695 187,536 365,106 155,905 236,970 88,539 134.351 216,625 80,094 58,093 91,066 44,320 240,090 MATURITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 167,162 98,003 20,581 30,206 14,496 3,686 190 Bills bought in open market 197,743 105,051 48,705 39,930 4,0% 10 Certificates and bills 271,542 25,214 83,379 3,523 159,426 Municipal warrants 22 22 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis