H.4.1 Factors Affecting Reserve Balances of Depository Institutions

SIMM?'!' TOR THE PRESS Released, for publication St. 6836 Friday morning, Dec. 19; Federal Reserve Board not earlier. December 18, 1930. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending December 17, as reported "by the Federal reserve banks was $1,305,000,000, an increase of $196,000,000 compared with the preceding week and a decrease of $326,000,000 compared with the corresponding week in 1929, On December 17 total reserve bank credit amounted to $1,297,000,000 an increase of $163,000,000 for the week. This increase corresponds with increases of $lg1,000,000 in money in circulation and $7,000,000 in member "bank reserve balances, offset in part by increases of $18,000,000 in Treasury currency and $-.8,000,000 in monetary gold stock. Holdings of discounted bills increased $74,000,000 during the week, the principal changes being increases of $42,000,000 at the Federal Reserve Bank of San Francisco, $17,000,000 at Hew York, $10,000,000 at Cleveland and $4,000,000 at Richmond and a decrease of $3,000,000 at Atlanta. The System's holdings of bills bought in open market increased $8,000,000, of U. S. bonds $50,000,000 and of Treasury certificates and bills $64,000,000 while holdings of Treasury notes declined $39,000,000. Holdings of Treasury certificates and bills included a temporary certificate amounting to $109,000,000, 'is compared to $99,500,000 a year ago, is-sued by the Treasury pending collection of the quarterly tax payments. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 17, 1930, were as follows: Increase or decrease since Dec. 17 Dec. 10 Dec. 18 1930 1930 1929 (in millions of dollars) Bills discounted 331 + 74 — N06 Bills bought 252 + 8 - 57 United States securities 692 + 75 + 159 Other reserve bank credit 22 + 6 ko TOTAL RESERVE BALTIC CREDIT + 163 1,297 345 Monetary gold stock 4,584 + 8 + 263 Treasury currency adjusted 1,822 + 18 + 11 Money in circulation 4,83-7 + 181 9S Member bank reserve balances 2,455 + 7 + 47 Unexpended capital funds,nonmember deposits,etc, 4n — — IS Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, December 19,1930, n.ot earlier. St. 6836a RESOURCES A1TD LIABILITIES OF THE TWELVE FEDERAL RESERVE BA1TKS COMBINED (In thousands of dollars) Dec. 17.1930 Dec. 10. 1930 Dec. 18.1920 R E S O U R C ES Gold with Federal reserve agents . . .. 1,665,310 1,650,870 1,756,080 Gold redemption fund with U.S. Treasury 33,700 33.453 74,737 Gold held exclusively against F.R.notes 1,699,010 1,684,323 1,830,867 Gold settlement fund with F.R. Board . . 1+62,6:49 474,094 485,531 Gold and gold certificates held by "banks 797,191 846,603 566,4io Total gold reserves 2,958,850 3,005,020 2,882,808 Reserves other than gold 132,240 136,457 143,345 Total reserves 3,091,090 3,141,477 3,026,153 62,779 59,961 • 67,637 Bills discounted: Sec. "by U.S.Government obligations . . 144,528 89,676 382,461 Other bills discounted 186,793 167.421 354,577 Total bills discounted 331,321 257,097 737,033 Bills bought in open market 251,591 243,697 309,411 U. S. Government securities: 121,237 70,910 68,564 Treasury notes 200,030 239,282 198,948 Certificates and bills 371,117 306.811 265,653 Total U.S.Government securities 692,434 617,003 533,265 Other securities . . .. 7,451 108 9,752 'Total bills and securities . « 1,282,797 1,117,905 1,539,%66 Due from foreign banks _ 703 702 722 Uncollected items 733,584 526,348 839,391 F. R. notes of other banks l4,o66 15,322 30,990 Bank premises 59,783 59,742 59 , 268 All other resources 20,925 20,780 10,779 TOTAL RESOURCES 5,265,727 4,942,237 5,624,456 L I A B I L I T I ES F. R. notes in actual circulation . . . 1,596,168 1,475,745 11,,992266,,002233 Deposits: Member bank - reserve account 22,,445544,,997744 2,447,517 2,408,216 Government 2,615 16,402 3,091 5,611 Foreign bank 5,557 5,793 Other deposits . . . .. 20,343 20,273 22,027 Total deposits . . . . . .. 2,483,543 2,439,749 2,439,132 Deferred availability items 720,06s 511,002 737,634 170,303 170,302 170,14s 276,936 276,936 254,393 All other liabilities 18,704 13,503 47,121 TOTAL LIABILITIES 5,265,727 4,942,237 5,624,456 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 75-8f» 79.2# 69.3# Contingent liability on bills purchased for foreign correspondents 434,006 417,422 539,793 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, December 19,1930; not earlier. St. 6836a RESOURCES MD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHS COMBINED (In thousands of dollars) Dec. 17.1930 Dec. 10. 1930 Dec. 18.1920 R E S O U R C ES Gold with Federal reserve agents . . .. 1,665,310 1,650,870 1,756,080 Gold redemption fund with U.S. Treasury 33,700 33,453 74.787 Gold held exclusively against F.R.notes 1,699,010 1,684,323 1,830,867 Gold settlement fund with F.R. Board . . 1+62,61+9 474,094 485,531 Gold and gold certificates held "by banks 797,191 846,603 566,410 Total gold reserves 2,952,850 3,005,020 2,882,808 132,2k) 136,457 143,345 3,091,090 3.141,477 3,026,153 62,779 59,961 67,687 Bills discounted: Sec. by U.S.Government obligations .• . 144,528 8899,,667766 338822,,446611 Other bills discounted . 186,793 167.421 354,577 Total bills discounted 331,321 257,097 737,038 Bills bought in open market 251,591 243,697 309,411 U. S. Government securities: 121,237 70,910 68,664 200,030 239,282 198,948 Certificates and bills .. . . . .. 371,117 306.811 265,653 Total U.S.Government securities 692,434 617,003 533,265 r- -=lO*•v 1—1 108 9.752 Total bills and securities . . 1,282,797 1,117,905 1,589,465 Due from foreign banks 703 702 722 Uncollected items 733,584 526,348 839,391 F. R. notes of other banks l4,o66 15,322 30,990 Bank premises 59,733 59,742 59,268 All other resources 20,925 20,780 10,779 TOTAL RESOURCES 5,265,727 4,942,237 5,624,456 L I A B I L I T I ES F. E. notes in actual circulation . . . 1,596,168 1,475,745 1,926,023 Deposits: Member bank - reserve account . . . .. 22,,445544,,997744 2,447,517 2,408,216 Government 2,615 16,402 3,091 Foreign bank . . . . . . . . . . . .. 5,611 5,557 5,798 Other deposits . . . .. 20,3^ 20,273 22,027 Total deposits 2,483,:4s 2,489,749 2,439,132 Deferred availability items 720,068 511,002 787,634 170,303 170,302 170,148 276,936 276,936 254,398 18,704 18,503 47,121 TOTAL LIABILITIES 5,265,727 4,942,237 5,624,456 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 7755..88$$ 79.2# ' 69.3# Contingent liability on bills purchased for foreign correspondents 443344,,000066 441177,,442222 539,798 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES HID LIABILITIES OF THE FEDERAL RESERVE BANKS OH DECEMBER 17, 1930 R E S O U R C ES (In thousands of dollars) St. 6836b Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold id til Federal reserve agents 1,665,310 l49,gi7 434,355 139,600 180,550 79,150 112,4oo 173,000 71,045 47,525 65,000 27,005 185,763 Gold redemption fund with U.S.Treasury 33,700 1,502 14,092 1,612 2,933 2,172 2,264 1,113 l.oOl 8O6 1,456 1,104 3,045 Gold held exclusively against 1,699,010 151,419 448,447 141,212 183,483 81,322 114,664 174,113 7722,,664466 4488,,333311 66,456 23,109 188,808 F. R. notes 462,649 23,840 137,710 63,750 39,742 21,207 10,925 6o,947 23,081 16,378 26,855 12,416 25,798 Gold settlement fund with F.R.Board Gold and gold certif. held "by "banks 797,191 34,338 453,735 19,366 57,825 8,o64 7,906 142,841 9,420 4,446 6,876 9,113 43,261 2,958,850 209,597 1,039,892 224,328 281,050 110,593 133,495 377,901 105,147 69,155 100,187 49,638 257,867 Total gold reserves Reserves other than gold 132.240 10,512 36,358 7,643 8,399 6,302 8,568 18,953 9,263 3,312 6,734 7,655 8,541 3,091,090 220,109 1,076,250 231,971 259,449 116,895 142,063 396,854 ll4,4io 72,467 106,921 57 , 293 266,408 Total reserves Hon-reserve cash 62,779 7,451 19,274 3,263 3,808 2,477 3,4l4 8,892 3,469 i,34i 1,687 2,924 4,779 Bills discounted: Secured "by U.S.Govt, obligations 114444,,552288 6,589 37,091 H,315 22,340 6,64l 595 10,311 66,,442277 754 33,,008844 1,215 3388,,115566 Other bills discounted 186,793 7,960 4o,649 12,909 19,885 25,530 28,352 12,833 8,778 3,097 11,636 5,371 9,793 Total bills discounted 331,321 14,549 77,740 24,224 42,225 32,171 28,947 23,144 15,205 3,86i 14,720 6,586 47,9%9 Bills b-ought in open market 251,591 21,105 77,453 3,495 23,565 12,459 14,896 30,638 9,808 6,999 10,142 8,139 32,892 U. S. Government securities: Bonds 121,287 33,,660088 6633,,443311 3,002 3,253 1,863 441133 23,905 11,,002266 55,,776600 1,859 11,232 1*935 Treasury notes 200,030 17,099 38,489 21,477 28,012 4,ioi 4,439 23,161 14,347 9,946 10,845 7,274 20,840 Certificates and bills 371,117 26,219 181,431 26,520 27,628 6,297 2,929 35,537 9,045 10,533 16,633 11,156 17,189 Total U.S.Govt, securities 692,434 46,926 283,351 50,999 58,893 12,261 7,781 82, b03 24,418 26,239 29,337 29,662 39,964 Other securities 7,451 850 4,450 1,000 1,000 151 — - - - - - - Total bills and securities 1,282,797 83,430 442,994 78,718 125,683 56,891 51,624 137,385 49,431 37,250 54,199 44,387 120,805 Dae from foreign banks 703 52 228 69 71 30 26 95 25 16 21 21 %9 Uncollected items 733,584 78,826 207,274 66,017 67,527 57,007 19,316 95,475 28,886 13,336 36,731 24,742 38,447 F. R. notes of other banks l4,o66 208 3,467 266 1,524 823 866 2,299 911 910 1,119 277 1,396 Bank premises 59,783 3,580 15,664 2,6i4 7,106 3,378 2,658 8,295 3,811 2,018 3,972 1,877 4,810 All other resources 20,925 510 7,514 157 1,072 1,346 3,929 1,297 2,084 564 624 513 1,315 5,265,727 39%,166 1,772,665 383,075 496,24o 238,847 223,896 650,592 203,027 127,902 205,274 132,034 438,009 TOm RESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

xz RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH DECEMBER 17, 1930 L I A B I L I T I ES (in thousands of dollars) St. 6836c Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,596,168 132,564 353,951 129,525 193,712 107,624 126,285 141,347 83,560 51,353 69,036 32,154 175,057 Deposit,-.: Member bank - reserve account 2,454,974 146,993 1,052,11s i4i,034 187,574 62,318 53,356 349,832 70,545 52,431 87,552 59,946 186,275 Government deposits 2.615 257 34i 91 391 54 84 489 265 235 94 53 261 Foreign bank 5,611 4ll 1,885 53s 555 233 200 744 200 1 28 167 167 383 Other deposits 20,34s 207 8,260 199 2,405 135 209 927 464 177 99 60 7,206 Total deposits 2,483,54s 147,868 1,O62,6O4 i4i,862 190,925 62,74o 58,849 351,992 71,474 52,971 87,912 60,226 194,125 Deferred availability items 720,068 79,697 203,617 67,397 65,233 49,165 20,362 94,505 30,67s 12,505 34,322 25,676 36,9U Capital paid in 170,303 11,877 66,238 16,793 15,Sl4 5,789 5,347 20,147 5,069 3,061 4,308 4,355 11,505 Surplus 276,936 21,751 80,001 26,965 29,l4l 12,496 10,857 40,094 10,877 7,143 9,162 8,935 19,514 All other liabilities 13,704 4Q9 6,254 533 1,415 1,033 2,196 2,507 1,369 869 534 688 897 TOTAL LIABILITIES 265,727 394,166 1,772,665 383,075 4^6,240 238,847 223,896 650,592 203,027 127,902 205,274 132,034 438,009 Reserve ratio (per cent) 75-8 78.5 76.0 85.5 75.3 68.6 76.7 80.4 73.S 69.5 68.1 62.0 72.2 Contingent liability on bills purchased for foreign correspondents 434,006 31,851 145,192 41,751 43,04-2 18,078 15,495 57,677 15,495 9,900- 12,913 12,913 29,699 FED3RAL RESERVE HOTS SIAIEMHT Federal reserve notes: Issued to F.R.bank by F.R.Agent 2,047,285 168,773 513,554 152,456 231,851 118,724 153;74I 187,296 91,66s 56,324 83,636 38,752 250,510 Held by Federal reserve "bank 451,117 36,209 159,603 22,931 38,139 11,100 27,456 45,949 s,io8 4,971 i4,6oo 6,598 75,453 In actual circulation 1,596,16s 132,564 353,951 129,525 193,712 107,624 126,285 141,347 83,560 51,353 69,036 32,154 175,057 Collateral held by agent as se- / n/ curity for notes issued to bank: Gold and gold certificates 617,054/ 35,300 395,729 39,500 15,550 5,150 7,500 30,000 15,245 /ll,825 16,255 45,000 Gold fund - F. R. Board l,o4s,256/114,617 38,626 100,100 165,000 74,000 IO4,QOO 143,000 55,800/ 35,700 65,000 10,750 140,763 Eligible paper 518,66# 32,991 125,503 19,867 59,737 43,046 42,469 48,899 22,64% 9.512 23.612 13,480 76.907 Total collateral 2,183,97^ 182,908 559,858 159,467 24o,287 122,196 154,869 221,899 93,694, 57,037 88,612 4o,4S5 262,670 S MATURITY DISTRIBUTION OF BILIS AND SHORT TERM SECURITIES Total Wi thin 15 days 16 to 30 days 31 to 60 days 6l to 90 days ^nths° Over 6 months Bills discounted 331,321 241,075 27,077 30,673 19,838 10,998 1,660 Bills bought in open market 251,591 107,130 77,280 55,973 ll,l6o 48 Certificates and bills 371,117 109,000 33,957 101,379 126,781 Municipal warrants 151 110 ~ l4 24 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis