H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication St. 6820 Friday morning, Dec. 12; Federal Reserve Board not earlier. December 11, 1930* COItDITICr OF FEDERAL RESERVE Bints The daily average volume of Federal reserve "bank credit outstanding during the week ending December 10* as reported "by the Federal resarve banks, was $1,109,000,000, an increase of $16,000,000 compared with the preceding week and a decrease of $459,000,000 compared with the corresponding Week in 1929* On December 10 total reserve "bank credit amounted to $1,13^>000,000, an increase of $26,000,000 for the week. This increase cfoarfrespotids with increases of $41,000,000 in money in circulation and $24,000,000 in member blank reserve "balances, offset in part "by increases of $32,000,000 ifi Tte&sury currency and $4,000,000 in monetary gold stock and a decline of $2,000,000 in unexpended capital funds, etc. Holdings of discounted bills increased $6,000,000 durihg the week, the principal changes being increases of $l4,000,000 at the Federal Reserve Bnxik of New York and $3,000,000 at Richmond, and decreases of $8,000.000 at San Francisco and $2,000,000 at Cleveland. The System's holdings of bills bought in open market increased $25,000,000, of U. S. bonds $16,000,000 and of Treasury certificates and bills $7,000,000, while holdings of Treasury notes declined $8,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 10, 1930,were as follows: Increase or decrease since Dec. 10 Dec. 3 Dec. 11 1930 1930 1929 (In millions of dollars) Bills discounted 257 + 6 - 512 Bills bought 244 + 25 - 78 United States securities 617 +15 + 230 Other reserve bank credit 16 - 20 - 32 TOTAL RESERVE BANK CREDIT 1,134 + 26 392 Monetary gold stock 4,576 + 4 + 222 Treasury currency adjusted i,so4 +32 - 3 Money in circulation 4,656 + 4l - 212 Member bank reserve balances 2,448 + 24 + 51 Unexpended capital funds ,nonmember deposits,etc 4ll - 2 - 11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleased for publication Friday morning, December l2,1930;not fearlier. St. 6820a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Dec. 10.1930 Dec. 3.1950 Dec. 11.1929 R E S O U R C ES Gold vzith Federal reserve agents . .. 1,650,870 1,588,506 1,628,207 Gold redemption fund with U.S.Treasury 33,453 36>833 76,787 Gold held exclusively against F.R.notes 1,684,323 1,625,339 1,704,994 Gold settlement fund with F. R. Board . 474,094 486,843 523,502 Gold and gold certificates held by "banks 846,603 895,309 735,652 Total gold reserves 3,005,020 3,007,491 2,964,148 Reserves other than gold 136,457 137,312 145,719 Total reserves 3,l4l,477 3,144,803 3,109,867 Non-reserve cash 59,961 61,565 76,472 Bills discounted: Sec. by U.S.Government obligations . . 89,676 93,371 398,729 Other bills discounted 167,421 157,556 370,193 Total bills discounted . . . . * 257,097 250,927 768,922 Bills bought in open market . . . . .. 243,697 218,937 321,840 U. S. Government securities: Bonds . . .. 70,910 54,863 50,971 Treasury notes . . . .. 239,282 247,269 193,374 Certificates and bills 306,811 300,060 142,589 Total U.S.Government securities 617,003 602,192 386,934 Other securities 108 6,358 13,6o3 Total "bills and securities . . 1,117,905 l,078,4l4 1,491,299 IXie from foreign "banks 702 2,652 724 Uncollected items 526,348 57li488 6p4,24g F. R. notes of other "banks 15,322 15,250 28,518 Bank premises . 59,742 59,704 59,172 All other resources 20,780 19,861 13,021 TOTAL RESOURCES . . .. 4,942,237 4,953,737 5,433,322 L I A B I L I T I ES F. R. notes in actual circulation . . . 1,475,745 1,450,898 1,918,314 Deposits: Member "bank - reserve account . . .. 2,447,517 2,423,932 2,396,984 Government l6,4o2 4l,935 3,310 Foreign bank 5,557 6,152 5,880 Other deposits 20,273 20,248 19,519 Total deposits 2,489,7^ 2,492,267 2,425,693 Deferred availability items 511,002 544,819 620,399 Capital paid in 170,302 170,591 168,357 Surplus 276,936 276,936 254,39S All other liabilities 18,503 18,226 46,l6l TOTAL LIABILITIES . . 4,942,237 4,953,737 5,433,322 Ratio of total reserves to deposit and F. R. note liabilities combined . . 79.256 79-8$ 71.6# Contingent liability on bills purchased for foreign correspondents . . . .. 417,422 425,826 517,659 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCfiS MD LIABILITIES OF THE FEDERAL RESERVE BAMS ON DECEMBER 10, 1930 R E S O U R C ES (in thousands of dollars) St. 6820b Total Boston New York Phi la. CI eve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas Sfan Fran. Gold with Federal reserve agents 1,650,870 149,917 408,545 139,600 180,550 68,150 107,500 173,000 74,245 46,595 65,000 27,005 210,763 Gold redemption fund v»J th U»S«Treasury 33,453 1,502 l4,092 1,612 2,934 1,872 2,^4 1,113 1,601 817 1,456 1^117 3,073 Gold held exclusively against - F. R. notes 1,684,323 151,419 422,637 l4l,a2 183,484 70,022 109,764 174,113 75,846 47,412 6666,,445566 28,122 a3,836 474,094 18,884 158,661 57,664 51,168 10,492 8,021 50,962 24,303 13,839 22,061 9,900 48,139 Gold settlement fund with F.R.Board 846,603 36,467 504,166 22,296 59,241 8,265 8,176 152,707 9,867 4,798 6,903 $,119 24,598 Gold and gold certif. held by "banks Total gold reserves 3,005,020 206,770 1,085,464 221,172 293,89838, 779 125,961 377,782 110,01666 ,o4g 95,420 >7,i4I 286,573 Reserves other than gold 136,457 11,081 35,757 8,4n 8,982 6,928 9,332 18,120 9,94s 3,957 6,900 7,693 9,348 Total reserves 3,141,477 217,851 l,ia,2a 229,583 302,87595 ,707 135,293 395,902 119,964 70,006 102,3205 4,834 295,921 Non-reserve cash 59,961 8,224 13,737 3,315 3,528 2,450 4,031 9,059 4,162 1,495 1,790 3,122 5,048 Bills discounted: Secured "by U, 3.Govt. obligations 8899,,667766 5,793 23*638 9,499 16,876 11,220 720 10,599 44,,226699 838 33,,226688 1,185 1,771 Other "bills discounted 167,421 7,128 37,137 12,312 15,213 17,004 31,695 11,811 8,982 3,042 12,712 6,162 4,223 Total "bills discounted 257,097 12,9a 6o,775 a, 811 32,089 28,224 32,415 22,410 13,251 3,880 15,980 7,347 5,994 Bills bought, in open market 243,697 20,161 76,423 3,489 23,204 12,824 14,741 27,323 9,178 6,563 9,319 7,321 33,151 U, S. Government securities: Bonds 70,910 33,,00ll44 16,988 2,507 2,620 1,983 307 23,088 808 55,,660066 11,,447799 1100,,997766 11,,553344 Treasury notes 239,282 18,660 66,844 22,767 29,660 6,6l4 4,605 25,282 12,625 10,580 11,837 7,939 21,869 Certificates and bills 306,811 25,250 119,667 27,824 28,859 8,958 2,812 34,229 5,718 10,172 16,019 10,744 16,559 Total U.S.Govt, securities 617,003 46,9#k 203,499 53,098 61,139 17,555 7,724 82,599 19,151 26,35s 29,335 29,659 39,962 Other securities 108 — - — — — — — - 108 - — - Totat^bills and securities 1,117,905 80,006 340,697 78,398 116,432 58,603 54,880 132,332 41,580 36,909 54,634 44,327 79,107 Due from foreign banks 702 52 228 69 71 30 25 95 25 16 a a 49 Uncollected items 526,348 57,518 136,668 44,726 46,462 42,056 16,768 65,111 24,586 11,687 29,969 19,131 31,666 F. R. notes of other banks 15,322 ai 3,436 215 929 1,157 907 2,271 1,861 809 i,77i 331 1,424 Bank premises 59,742 3,580 15,664 2,6l4 7,066 3,377 2,65.8 8,295 3,811 2,018 3,972 1,877 4,810 All other resources 20,780 486 7,065 268 1,244 1,354 4,073 1,132 2,229 ^0 612 520 1,307 TOTAL RESOURCES 4,942,237 367,928 1,638,716 359,188 478,607 3)4,734 218,635 614,197 198,218 123,430 195,089 124,163 419,332 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCE^ AiJD LIABILITIES OF THE I^ElJERAL R^ERVir 'BAMKS ON DECEMBER 10, 1930 L I A B I L I T I ES (in thousands of dollars) St. 6820c Total Boston New York Ehila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San 7ran. F.R.notes In actual circulation 1,475,745 129,257 283,420 126,489 194,030 84,966 123,935 141,937 83,303 49,732 68,4I4 32,286 157,376 Deposits: Member "bank - reserve account 2,447,517 146,248 1,047,884 145,133 190,162 60,539 60,1083 45,318 70,709 50,921 84,33^ 57,499 188,657 Government deposits 16,402 III 13,882 356 34l 45 7 238 211 366 l4§ 570 Foreign tank 5,557 1,832 538 555 233 200 744 200 % 167 383 Other deposits 20,273 94 9,449 138 2,o4g 22. 194 800 486 134 43 6,720 Total deposits 2,489,749 146,946 1,073,047 146,165 193,107 60,909 60,5093 47,100 71,606 51,548 84,624 57,858 196,330 Deferred availability items 511,002 57,109 129,865 42,262 45,125 39,557 15,758 62,406 25,989 11,132 28,043 20,030 33,726 Capital paid in 170,302 11,877 66,233 16,793 15,813 5,780 5,354 ao,l43 5,069 3,060 4,310 4,354 11,516 Surplus 276,936 21,751 80,001 26,96 29,141 12,496 10,857 40,094 10,877 7,143 9,162 8,935 19,514 All other liabilities 18,503 388 6,150 • 51 1,391 1,026 2,222 2,517 1,374 815 536 100 870 T0#L LIABILITIES 4,942,237 367,928 1,638,716 359,188 478,607 204,734 218,635 614,197 198,218 123,430 195,089 124,163 419,332 Reserve ratio (per cent) 79.2 78.7 82.7 84.2 78.2 65.6 73.4 81.0 77.4 69.1 66.9 60.8 83.7 Contingent liability on bills pur- 417,422 30,921 137,045 40,531 41,785 17,550 15,043 55,992 15,043 9,610 12,535 12,535 28,832 chased for foreign correspondents FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,961,936 165,318 471,791 148,299 224,662 103,272 152,565 187,363 94,639 54,417 82,555 38,705 238,345 486,191 35,461 183,371 a,810 30,632 is,306 28,630 45,431 11,336 4,685 i4,i4i 6,419 80,969 Held by Federal reserve bank I11 actual circulation 1,475,745 129,857 283,420 126,489 194,030 84,966 123,935 141,937 83,303 49,732 6s,4l4 32,286 157,376 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 571,114 35,300 329,919 39,500 15,550 5,150 7,100 30,000 15,445 11,895 - 16,255 65,000 Gold fund - F. R. Board 1,079,756 114,617 78,626 100,100 165,000 63,000 ioo,4oo i43,ooo 58,800 34,700 65,000 10,750 145,763 Eligible paper 437,991 30,419 104,936 19,364 49,542 39,417 45,802 44,851 20,826 9,066 24,059 13,469 36,24q Total collateral 2,088,861 180,336 513,481 158,964 230,092 107,567 153,302 217,851 95,071 55,661 89,059 4o,474 247,003 IATURITY DISTRIBUTION OF BILLS AMD SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days a o 90 ^ 91 Over 6 months t Bills discounted 257,097 171,392 24,410 30,269 19,530 10,433 1,063 "Bills bought in open market 243,697 92,595 70,984 $7,414 1?,555 49 Certificates and bills 306,811 73,555 38,707 194,549 Municipal warrants 108 84 24 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis