H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication St. 6g4l Saturday morning, Dec. 27; Federal Reserve Board not earlier. December 26, 1930 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending December 24, as reported by the Federal reserve banks was $1,333,000,000, an increase of $33,000,000 compared with the preceding week and a decrease of $379,000,000 compared with the corresponding week in 1929. On December 24 total reserve bank credit amounted to $1,425,000,000, an increase of $128,000,000 for the week. This increase corresponds with an increase of $177,000,000 in money in circulation and a decrease of $47,000,000 in Treasury currency offset in part by decreases of $88,000,000 in member bank reserve balances and $3,000,000 in unexpended capital funds, etc., and an increase of $5,000,000 in monetary gold stock. Holdings of bills discounted increased $117,000,000 during the week, the principal changes being increases of $64,000,000 at the Federal Reserve Bank of New York, $17,000,000 at Philadelphia, $10,000,000 at Boston and $9,000,000 at Chicago. The System's holdings of bills bought in open market increased $8,000,000 and of U. S. bonds $6,000,000, while holdings of Treasury notes declined $7,000,000 and of Treasury certificates and bills $50,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 24, 1930, were as follows; Increase or decrease since Dec. 24, Dec. 17, Dec. 24, 1930 1930 1929 (in millions of dollars) Bills discounted 448 +.117 - 315 Bills bought 260 +8 — 95 United States securities 642 - 50 + 157 Other reserve bank credit 75 + 53 45 TOTAL RESERVE BANK CREDIT 1,425 + 128 - 298 Monetary gold stock 4,589 +5 +295 Treasury currency adjusted 1,775 - 47 - 13 Money in circulation 5,014 + 177 - 44 Member bank reserve balances 2,367 — 88 + 47 Unexpended capital funds,nonmember deposits, etc. 408 - 3 - 19 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, December 27,1930; not earlier. St.og4la RESOURCES A2TD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHCS C01.SI2IED (In thousands of dollars) Dec. 24.1930 Dec. 17.1A30 Dec.24.19 R E S O U R C ES Gold with Federal reserve agents . . .. 1,703,too 1,665,310 1,732,160 Gold redemption fund with U.S. Treasury 35>50 33,700 73,787 Gold held exclusively against F.R.not^s 1,738,850 1,699,010 1,805,947 Gold settlement fund with F.R. Board . . 437,581 462,649 489,879 Gold and gold certificates held by "banks 745,636 797,191 525,814 Total gold reserves . . .. 2,922,067 2,958,850 2,821,640 Reserves other than gold 115,499 132,240 129,106 Total reserves . . .. 3,037,566 3,091,090 2,950,746 59,750 62,779 61,310 Bills discounted: Sec. "by U.S.Government obligations . . 2211QQ,,442222 144,528 443300,,555566 228,927 186,793 332,225 762,781 Total "bills discounted . . 448,349 331,321 259,837 251,591 354,943 U. S. Government securities: 112277,,223344 121,287 68,683 193,090 200,-030 201,236 Certificates and "bills 321,352 371,117 215,124 Total U.S. Government securities 641,676 692,434 485,043 6,533 7,451 • 9,770 Total "bills and securities . . .» 1,356,395 1,282,797 1,612,537 Due from foreign "banks . 703 703 „ 721 Uncollected items 570,952 733,584 744,687 21,019 l4,o66 31,859 59,783 59,783 59,329 22,525 20,925 11,089 TOTAL RESOURCES 5,128,693 5,265,727 5,472,27s L I A B I L I T I ES F. R. notes in actual circulation . . . 1,721,897 1,596,168 1,989,159 Deposits: Member bank - reserve account . . .. 2,366,717 2,454,974 2,320,118 Governmen t 46,180 2,615 30,671 5,656 5,611 5,539 Other deposits . 18,396 20,348 18,883 Total deposits 2,436,949 2,483,548 2,375,211 Deferred availability items 503,448 720,06s 634,746 Capital paid in 170,314 170,303 170,760 276,936 276,936 254,398 All other liabilities . . . . . . . .. 19,149 18,704 4s,oo4 TOTAL LIABILITIES 5,128,693 5,265,727 5,472,27s Ratio of total reserves to deposit and F. R. note liabilities combined . .. 73.0% 75-8% 67.6# Contingent liability on bills purchased for foreign correspondents < 432,327 434,006 540,863 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BA1TKS Oil DECEIVES 24, 1930 R E S O U R C ES (In thousands of dollars) St. 684Tb Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,703,400 149,917 434,355 l60,000 180,550 79,150 123,900 173,000 74,435 49,325 65,000 23,005 IS5,763 Gold redemption fund with U.S.Treasury35,450 1,502 14,092 1,612 2,933 2,422 2,264 1,113 l.oOl 806 1,456 4,545 ^°fd Relnotes1U~Vely against 1,733,850151,419 44s,447 161,612 183,483 81,572 126,164 174,113 76,036 50,131 66,456 29,109 190,308 s: S :S « 3 : j jj j j : i£ IS " :S £ •% %;>£ ' j :S tg ' IS S :S Total gold reserves 2,922,067 204,213 987,982 230,624 293,826 111,904 144,766 354,876 109,417 69,613 98,483 50,871 265,492 Reserves other than gold 115,499 8,567 34,674 6,453 6,391 5,396 7,193 15»544 8,204 3,067 5,925 6,357 7>728 Total reserves 3,037,566 a2,780 1,022,656 237,077 300,217 117,300 151,959 370,420 117,621 72,680 104,408 57,228 273,220 non-reserve cash 59,750 6,217 16,634 3,375 2,481 2,957 3,517 9,^75 3,721 1,756 1,898 3,090 4,629 Secured by U.S.Govt. obligations 219,422 13,893 77,292 18,780 29,555 7,548 978 18,307 5,863 795 2,lSo 1»^2 ^2,783 Other Mils disc minted 228,927 10,976 64,194 21,979 18,001 30,911 27,836 13,367 8,489 3,3&7 13,194 5,246 11,367 Total bills discounted 448,349 24,869 i4i,4s6 *10,759 47,556 38,459 28,814 31,674 14,352 4,162 15,380 6,688 54,150 Bills "bought in open market 259,837 19,657 98,797 3,495 20,336 10,324 13,430 31,595 8,651 6,6a 9,507 7,090 30,334 U. S. Government securities: Bonds 127,234 3,609 69,431 3,002 3,253 1,862 384 23,905 1,025 5,737 1,858 11,233 1,935 Treasury notes 193,090 16,638 34,728 21,098 27,528 3,991 4,382 22,569 l4,191 9,79% 10,554 7,078 20,539 Certificates and Mils 321,352 26,679 128,39 2 26,899 28,112 6,4pS 3,006 3o,l6o 9,202 10,728 lo,925 11,351 17,490 Total U.S.Govt, securities 641,676 46,926 232,551 50,999 58,893 12,261 7,772 82,634 24,418 26,259 29,337 29,662 39.964 Other securities 6,533 850 3,450 — 1,000 - - 1,000 - 233 Total Mils and securities 1,356,395 92,302 476,284 95,253 127,785 6l,o44 50,016 146,903 47,4a 37,275 54,224 43,440 124,448 Dae from foreign banks 703 52 229 69 71 30 25 95 25 l6 21 a 49 Uncollected items 570,952 57,176 156,383 52,988 53,268 4o,7l3 17,710 68,361 24,966 10,729 33,747 19,312 35,599 F. R notes of other "banks 21,019 324 6,4*38 5^3 1,24-0 1,203 9&9 3,373 1*5&0 1,182 l,o51 47 o 1,830 e Bank premises 59,783 3,580 15,664 2,6l4 7,106 3,378 2,65s 8,295 3,811 2,018 3,972 1,877 4,810 All other resources 22,525 511 7,890 232 1,198 1,370 4,179 1,%09 2,703 558 629 555 1,291 TOTAL RESOURCES 5,12$,693 372,942 1,702,238 392,1a ^3,366 227,995 231,033 608,331 201,828 126,214 200,750 125,999 445,376 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OF DECEMBER 24, 1930 L I A B I L I T I ES (in thousahds of dollars) St. 6s4ic Total Boston Hew York Ehila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,721,897 138,842 399,542 161,293 203,650 108,279 135,983 141,453 85,928 53,925 70,887 33 ,411 188,704 Deposits: Member "bank - reserve account 2,366,717 1 43,950 991,317 138,150 187,674 59,755 58,461 340,513 69,739 49,530 85,482 57,641 184,505 Government deposits 46,180 2,946 10,747 3,318 3,167* 4,589 3,163 6,261 2,685 2,162 2,134- 1,862 3,146 Foreign bank 5,656 4ll 1,930 538 555 233 200 744 200 128 167 167 383 Other deposits 18,396 74 8,184 188 2,524 116 102 809 464 i46 94 4o 5,655 Total deposits 2,436,9491 47,381 1,012,178 142,194 193,920 64,693 61,926 3 48,327 73,088 51,966 87,877 59,710 193,689 Deferred availability items 503,448 52,677 137,663 44,311 49,4i6 35,676 14,716 55,778 25,498 9,281 27,989 18,886 31,557 Capital paid in 170,314 11,877 66,238 16,793 15,814 5,801 5,346 20,147 5,069 3,063 4,307 4,355 11,504 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 19,149 4i4 6,616 565 1,425 1,050 2,205 2,532 1,368 836 528 702 90S- TOTAL LIABILITIES 5,128,693 372,942 1,702,238 392,149a3 ,366 2 27,995 231,033 608,3312 01,828 126,214 200,750 125,9994 45,876 Reserve ratio (per cent) 73.0 74.3 72.4 78.1 75.5 67.8 76.8 75.6 74.0 68.6 65.8 61.5 71.5 Contingent liability on bills purchased for foreign correspondents 432,327 31,851 143,513 41,751 43,042 18,078 15,495 57,677 15,495 9,900 12,913 12,913 29,699 ^DERAL RESERVE HO TO STATEME^ Federal reserve notes: Issued to F.R.bank by F.H.Agent 2,121,087 170,360 522,977 181,804 234,830 122,417 162,713 188,737 93,916 58,268 82,798 38,905 263,362 Held by Federal reserve bank 399,190 31,518 123,435 20,511 31,180 14,138 26,730 47,284 7,988 4,343 11,9H 5,494 74,658 In actual circulation 1,721,897 138,842 399,542 161,293 203,650 108,279 135,983 l4i,453 85,92s 53,925 70,887 33,4n iss,7o4 Collateral held by agent as se- • curity for notes issued to bank: Gold and gold certificates 625,644 35,300 395,729 38,700 15,550 5,150 7,500 30,000 14,635 11,825 16,255 55,000 Gold fund - F. E. Board 1,077,756 114,617 38*626 121,300 165,000 74,000 116,4oo 143,00 5 0 9, 800 37,500 65,000 11,750 130,763 Eligible paper 631,915 41,863 200,213 30,462 64,185 47,246 4o,ss6 58,330 21,388 9,397 23,673 12,426 81,796 Total collateral 2,335,315 191,780 634,56s 190,462 244,735 126,396 164,786 231,380 95,823 58,722 88,673 4o,43i 267,559 MATURITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days ^1 days to Over 6 months Bills discounted 44s,349 355,958 22,l4g 34,937 23,255 51 «! 990 Bills bought in open market 259,837 149*905 60,720 40,712 8,218 282 Certificates and bills 321,352 23,457 - 103,879 194,016 Municipal warrants 233 194 15 24 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis