H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication St. 6so6 Saturday morning, Nov. 29; Federal Reserve Board, not earlier. November 2S, 1930. CONDITION OF RESERVE BANES The daily average volume of Federal reserve bank credit outstanding during the week ending November 26, as reported by the Federal reserve banks, was $1,022,000,000, a decrease of $5,000,000 compared with the preceding week and of $503,000,000 compared with the corresponding Week in l$2Qt On November 26 total reserve bank credit amounted to $1,028,000,000, an increase of $25,000,000 for the week. This increase corresponds wi\h an increase of $83,000,000 in money in circulation, offset in part by decreases of $39,000,000 in member bank reserve balances and $6,000,000 in unexpended capital funds, etc., and increases of $10,000,000 in monetary gold stock and $4,000,000 in Treasury currency, Holdings of discounted bills increased $29,000,000 during the week, the principal changes being increases of $7,000,000 each at the Federal Reserve Banks of Hew York and Richmond and $3,000,000 each at Philadelphia and Cleveland. The System's holdings of bills bought in open market declined $2,000,000 and of Treasury certificates and bills $8,000,000, while holdings of U. S. bonds increased $7.000*000 and of Treasury notes $1,000,000. Changes in the amount of reserve bank Credit outstanding and in related items during the week and the year ending November 26, 1930, were as follows: Increase or decrease since Nov. 26 Nov. 19 Nov. 27 1930 ' 1930 1929 (in millions of dollars) Bills discounted 234 4- 29 — 673 Bills bought 176 • — 2 — 81 United States securities 5l£_« MM + 270 Other reserve bank credit 22 ' - 2 - . 5 TOTAL RESERVE BALTIC CREDIT 1,028 4- 25 4g4 Monetary gold stock 4,566 4- 10 + 199 Treasury currency adjusted 1.737 4* 4 + 21 Money in circulation 4,565 33 .. 292 • + Member bank reserve balances 2,410 — 39 4• 34 Unexpended capital funds .nonmember deposits,etc 4o6 - 6 17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Eeleased for publication Saturday morning, November 2g,ig]0;not earlier. St.6806a RESOURCES AO LIABILITIES OP 'ZiZ TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Nov. Zb.iqlQ Noit. lq.iq^O Nov. 27.1Q2Q R E S O U R C ES Gold with Federal reserve agents . . . 1,592,506 1,589,056 1,629,465 Gold redemption fund with U.S.Treasury 35,085 35,082 76,287 Gold held exclusively a.rainst F.R.notes 1,627,591 1,624,138 1,705,752 Gold settlement fund with F.R. Board . . ^74,745 500,471 593,449 Gold and gold certificates held by banks 922,634 916,373 688,227 Total gold reserves 3,024,970 3,O4O,982 2,987,428 Reserves other than gold . 138,832 150,302 147,192 Total reserves . . .. 3,163,802 3,191,284 3,134,620 Non-reserve cash 61,210 68,395 79,097 Bills discounted: Sec. by U.S.Government obligations . 87,419 76,357 463,173 Other bills discounted 146,433 128,680 449,176 Total bills discounted . . , 233,852 205,037 912,349 Bills bought in open market 176,106 178,273 257,315 U. S. Government securities: Bonds Treasury notes 45,742 39,110 62,791 258,151 257,037 134,649 Certificates and bills e 291,741 299,626 128,658 Total U.S.Government securities 595,634 595,773 326,098 Other securities 6,348 6,297 18,698 Total bills and securities . 1,011,940 985,380 1,514,460 Due from foreign banks . Uncollected items . . .. 707 , 705 r. 723 531,631 613,143 648,888 F. R. motes of other banks Bank premises l4,o67 18,839 28,031 All other resources . . . 59,702 59,702 59,157 24,388 21,564 11,637 TOTAL RESOURCES 4,867,447 4,959,012 5,476,613 L I A B I LI T I ES F. R. notes in actual circulation . .. 1,421,86s 1,383,6O4 1,930,181 Deposits: Member bank - reserve account . . .. Government . 2,409,929 2,448,746 2,375,650 29,384 Foreign bank 37,137 35,847 Other deposits . . . . . . .. 5,377 5,433 5,021 18,723 22,879 20,519 Total deposits 2,463,413 2,514,195 2,437,037 Deferred availability items . . . .. Capital paid in . 516,493 595,772 641,594 170,468 170,455 168,321 All other liabilities . . .. 276,936 276,936 254,398 18,269 18,050 45,082 TOTAL LIABILITIES 4,867,447 4,959,012 5,476,613 Ratio of total reserves to deposit and F. R. note liabilities combined . . 81.1 81.95 71.1 Contingent liability on bills purchased for foreign correspondents 428,938 428,561 509,380 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS ON NOVEMBER 26, 1930 R E S O U R C ES (in thousands of dollars) St. 6So6"b Total Boston New York Phila. CI eve. Rich. Atlanta Chicago St. Louis ISLnn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,592,506 1U9,917 355,636 139,600 180,550 63,000 118,000 169,000 72,395 46,595 65,000 27,050 205,763 Gold redemption fund with U.S.Treasury 35.085 1,583 14,226 1,750 2,035 1,436 1,816 1,14-2 1,620 817 1,470 1,117 6,073 Gold held-exclusively against F. RCafoes 1,627,591 151,500 369,862 I4I,35O 182,585 64,436 119,816 170,142 74,015 47,412 66,470 28,167 211,836 Gold settlement fund with F.R.Board 474,7-45 11,493 170,008 42,305 53,691 13,454 5,775 4s,66l 37,534 14,377 22,555 IO,54O 44,352 • Gold and golS^ertif. held "by "banks 922,634 38,003 558,824 25,459 60,522 8,899 8,115 164,479 14,051 4,866 6.889 10.995 21.532 Total ^ol^reserves 3,024,970 200,996 1,098,694 209,ll4 296,798 86,789 133,706 383,282 125,o00 66,655 95,914 49,70 2 277,720 Reserves other than gold 138,832 12,274 34,970 8,458 8,524 6,885 8,835 19,642 10,273 , 4,037 7,019 8,407 9,508 total reserves 3,163,802 213,270 1,133,664 217,572 305,322 93,674 l42,54l 402,924 135,873 70,692 102,933 58,109 287,228 Non-reserve cash 6i,2io 9,603 14,446 3,176 3,109 3,021 3,773 9,375 3,949 1,459 1,621 3,139 4,539 Bills discounted: Secured "by U.S.Govt, obligations 87,4l9 8,926 19,132 9,447 16,975 10,465 60O 8,855 5,bl5 729 2,910 l,3l4 2,391 other "bills discounted 146,433 7,132 19,073 12,007 13,674 18,87b 28,982 10,258 9,093 3,083 11,909 6,972 5,574 Total "bi^Lls - discounted 233,852 16,05s 38,205 21,454 30,649 29,341 29,642 19,113 14,708 3,812 14,819 8,286 7,765 Bills "bought, in open market 176,106 14,553 48,211 2,945 17,687 9,340 9,853 18,944 6,914 4,753 8,189 5,107 28,610 U. S. Government s^eurities: Bonds 45,742 1,518 4,503 1,273 i,o44 1,452 113 21,059 500 5,032 528 8,168 552 Treasury notes 258,151 20,299 75,979 24,223 31,500 7,343 4,745 27,718 8,125 11,254 12,933 10,866 23,166 Certificates and "bills 291,7% 25,930 10b,888 28,513 27,463 9,377 2,835 35.410 10,430 lb,521 11,101 17,273 Total U.S. Govt, securities 595,634 47,747 187,370 54,009 60,007 18,172 7,693 84,187 8,625 26,716 29,982 30,135 40,991 Other securities 6,348 1,000 4,250 1,000 98 Total "bills and securities 1,011,9*40 79,358 278,036 79,408 108,343 56,853 47,188 1 22,244 30,247 35,379 52,990 44,528 77,366 Dae from foreign "banks 707 52 235 68 71 30 25 q4 25 16 21 21 49 Uncollected items 531,631 58,680 144,244 45,769 51,656 39,508 15,273 63,763 22,709 11,458 30,571 17,634 30,426 F. R. notes of other "banks 14,067 238 3,781 267 909 1,234 736 1,493 1,574 744 1,395 345 1,351 Bank premises 59,702 3,580 15,664 2,6l4 7,064 3,339 2,658 8,295 3,811 2,018 3,972 1,877 4,810 All other resources 24,388 478 6,235 279 1,167 929 4,057 681 7,726 436 642 448 1,310 TOTAL RESOURCES 4,867,447 365,259 1,596,305 349,153 477,641 198,588 216,251 608,809 205,914 122,202 194,145 126,101 407,079 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ifilfeOUROES'1 ASFD LlABfLITI^ 05" THB- -BSSiSBVE' BMES "GH" NOVEMBER 2b", 1930 L I A B I L I T I ES (In thousands of dollars) St. 6806c Total ^ s t on Jew^York ^Cleve^ | ^ C y. ^Dallas torn. F.R.notes in actual circulation 1,4a, 868 Deposits: Member bank - reserve account 2,409,929 143,577 1,033,202 136,748 190,008 62,627 56,937 337,019 71,899 51,306 84,344 58,820 183,442 O F G o t o h r v e e e i i * r g n d n m e t e p a n o n t s k d i e ts p osits 1 2 5 8 9 , , , 3 7 3 7 2 8 7 3 4 1 7 3 9 1 9 1 7 5 3 1 8 , , , 7 3 5 9 0 7 8 9 8 8 2 5 3 2 1 3 8 7 1 i, , 5 6 5 9 6 3 0 3 3 4,2 2 4 6 r 2 2 9 4 2,2 1 2 3 8 9 6 9 2 4,655 1 6 , , 2 5 1 4 3 9 3 2 2 1,2 i 1 4 4 2 g 4 3 1 9 6 4 to 0 9 2,0 1 4 6 2 0 0 2 1 5 , , 0 7 3 2 5 6 9 5 8 Total deposits 2,463,413 144,880 1,046,887 138,326 193,794 67,162 59,654 342,893 79,866 52,822 85,493 61,042 190,594 A S C D u l a e l r p f o p e i t l t r u h a r s l e e d r p . l a a i i v a d a b i i i l n l a i b ti i e l s i ty items 1 5 2 1 7 1 7 8 0 6 6 , , , , 2 9 4 4 6 3 6 9 9 6 8 3 1 2 5 1 1 8 , , , 2 8 7 3 7 7 5 5 7 4 1 0 1 0 8 3 6 6 0 8 , , , , 0 2 0 1 3 3 0 1 6 0 3 1 1 4 2 6 6 3 , , , 7 9 3 4 9 6 4 8 5 2 1 0 1 4 2 l 5 8 9 , , , , 3 8 9 1 4 8 1 4 9 l 3 1 1 3 1 2 5 8 , , , , 0 4 7 4 0 9 2 9 6 8 b 5 1 10 4 5 2 , , , , 8 7 2 3 5 7 0 5 7 9 4 4 6 4 2 2 2 0 0 , , , , 0 4 1 0 1 7 5 9 6 4 9 4 1 2 l 5 0 4 , , , , 2 8 5 4 7 5 7 n 7 8 3 1 3 7 0 , , , 1 0 4 8 4 6 8 6 0 3 8 6 2 9 4 8 , , , 1 3 2 5 6 1 1 3 2 4 3 3 1 8 4 9 , , , 9 3 1 7 3 5 1 0 5 3 2 4 1 1 3 1 9 0 , , , 3 5 2 8 6 1 6 6 6 6 4 2 50324Z, LIASILITJES 4,867,447 365,259 1,596,305 34q,l53 477,641 198,588 216,251 608,809 205,914 122,202 194,145 126,101 407,079 Reserve ratio (per cent) 81.4 78.1 86.8 83.2 79.9 66.5 77.9 83.2 83.0 70.2 67.8 62.5 S3.2 Contingent li»^.i|lty on bills purchased for Jfwsgsign correspondents 428,938 31,719 141,325 41,577 42,863 18,003 15,431 57,437 15,431 9,858 12,859 12,859 29,576 FEDERAL RESERVE NOTE STATEMENT federal reserve notes: I H s e s l u d e b d y t o Fe K de S r . a b l a n r k es e b r y ve F. R ba .A nk g ent 1,8 4 5 2 1 9 , , 7 8 1 4 3 5 1 3 6 6 4 ,5 ,7 8 1 5 2 4oo,o4s l4o,948 218,753 90,524 154,973 185,297 91,300 53,342 73,927 38,162 234,727 In actual circulation % — — —s 7 w/ I » J I JL i4i,010 17,099 30,190 16,823 31,570 44,124 7,371 5,519 12,497 6,207 80,250 1,421,86s 128,127 259,038 123,249 188,563 73,701 123,403 i4I,173 83,929 Collateral held, by agent as se- 47,823 66,430 31,955 154,477 curity for notes issued to bank: Gold and gold certificates 482,250 35,300 E G l o i l g d i f b u l n e d p — ap e F r » R. Board 1,1 3 1 5 0 8 , , 2 9 5 4 6 4 1 2 1 8 4 ,3 ,6 6 1 3 7 2 7 7 3 7 , , 6 0 2 1 6 0 1 3 0 9 0 ,5 ,1 0 0 0 0 1 1 6 5 5 ,5 ,0 5 0 0 0 5 5 S , , 0 o 0 o 0 o 7 1 , 1 1 0 0 , 0 9 00 169,000 1 6 1 0 , , 5 8 9 00 5 1 3 1 4 , , 8 7 9 00 5 65,000 1 i4 2 , , 3 7 o 5 o 0 i 6 4 5 o , , 00 7 0 6 3 61,734 19,749 44,61s 36,326 38,256 33,863 19,697 7,271 21,933 13,331 33,803 Total collateral 1,951,450 175,280 417,370 159,349 225,l6S 99,326 156,256 202,863 92,092 53,866 86,933 to,381 239,566 MATURITY DISTRIBUTION OF BILI5 AID SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months Bills discounted 233,852 152,715 21,725 30,117 16,95s 6 1 m 0, o 9 n 9 t 5 h s 1,342 B C i e l r ls ti b fi o c u a g t h e t s a in nd o b p i e l n l s m arket 1 2 7 9 6 1 , , 1 7 0 4 6 1 65,854 44,203 53,802 12,088 159 Municipal warrants 98 73,765 38,707 179,269 " 64 10 24 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis