H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-203 Released for publication Federal Reserve Board Friday morning, Jan. 9; January 8, 1931» not earlier. CONDITION OF FEDERAL RESERVE BANKS Die daily average volume of Federal reserve bank credit outstanding during the week ending January J, as reported by the Federal reserve banks, was $1,355,000,000, a decrease of $44,000,000 compared with the preceding week and of $220,000,000 compared with the corresponding week in 1930. On January 7 total reserve bank credit amounted to $1,24-8,000,000, a decrease of $125,000,000 for the week, This decrease corresponds with decreases of $107,000,000 in money in circulation and $27,000,000 in member bank^reserve balances and an increase of $9 >000,000 in monetary gold stock, offset ^in part by a decrease of $14,000,000 in Treasury currency and an increase of ip5,000,000 in unexpended capital funds, etc. Holdings of bills discounted increased $4l,000,000 during the week, tne principal changes being increases of $lb,000,000 at tne Federal Reserve Bank of San Francisco, $3,000,000 at New York, $7,000,000 at Chicago and $5,000,000 each at Atlanta and Kansas City. The System's holdings of bills bought in open market declined $99,000,000, of U. S. bonds $4q,000,000 and of Treasury notes $25,000,000, while holdings of Treasury certificates and bills increased $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January J, 1931> were as follows: Increase or decrease since Dec. 31. Jan* 8, 1931 1930 1930 (In millions of dollars) Bills discounted + 4l - 276 Bills bought - 99 - 54 United States securities - 70 + 174 Other reserve bank credit + 2 - 17 TOTAL RESERVE BAMK CREDIT 1,243 125 - 172 Monetary gold stock 44,,660022 + 325 Treasury currency adjusted 1,724 Money in circulation 4,782 - 107 + 92 Member bank reserve balances 2,444 - 27 II Unexpended capital funds,nonmember deposi ts,etc 4og + 5 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, January 9,1931;not earlier. B-208a RESOURCES MD LIABILITIES * OF THE TWELVE FEDERAL RESERVE BAHS COMBINED (in thousands of dollars) Jan. 7,1951 Dec. 51,1950 Jan. 8. 1930 R E S O U R C ES Gold with Federal reserve agents . . .. 1,691,139 1,730,439 1,685,479 Gold redemption fund with U.S. Treasury 37,126 *35» 211 73.787 Gold held exclusively against F.R.notes 1,72.6,315 *1,765,650 1,7 59 , 266 Gold settlement fund with F. R. Board . 483,560 *4l7 , 44o 534,305 Gold and gold certificates held "by hanks 781,64l 75% ,129 635,776 Total gold reserves 2,993,516 2,941,219 2,929,347 Reserves other than gold . . . . . . .. 153,832 l40,298 175,783 Total reserves . . » i * 4 * » 3,147,342 3,081,517 3,105,130 "Jon-reserve Cash 81,652 79,932 85 , 232 Bills discounted: 319,217 Sec. "by U*S.Government obligations i » 115,501 89,421 Other "bills discounted 17°»884 l6l ,977 246,398 567,615 Total "bills discounted . . . . » 292,385 251,398 319,167 Bills bought in open market . 265,456 363,844 U. S. Government securities: Bonds . 114,982 163,785 72,304 Treasury notes 201,369 226,473 180,624 231,914 Certificates and "bills 342,550 339 , 209 Total U.S.Government securities 658,901 729,467 484,842 12,700 Other securities . b ,558 7 ,l43 Total "bills and securities . . 1,223,300 1,351,852 1,384,324 Due from foreign "banks 712 704 724 F. R. notes of other "banks 25,468 21,993 41,334 633,601 Uncollected items . 521,013 584,783 Bank premises 57,845 57,843 58,149 All other resources 20 ,890 22,024 11.788 TOTAL RESOURCES 5,078,228 5,200,643 5,320,282 L I A B I L I T I ES 1,836,854 F. R. notes in actual circulation . . 1,624,898 1,663,538 Deposits: 2,367,250 Member "bank - reserve account . . .. 2,443,859 2,470,583 Government 24,689 IS,819 23,871 Foreign "bank 5,779 5,7^1 6,o48 25,130 Other deposits 25,390 21,970 Total deposits 2,499,717 2,517,133 2,422,2 Deferred availability items 496,9/0 564,007 598,980 169,668 170,367 Capital paid in I09,64o 276,936 Surplus 274,o36 274,636 All other liabilities 12,339 11,6g4 14,846. TOTAL LIABILITIES . . . 5,078,228 5,200,648 5,3 20 , 282 Ratio of total reserves to deposit and F. R. note liabilities combined . . fS.Jifo 13-if0 72.9? Contingent liability on bills purchased 527,816 for foreign correspondents 440,326 439,288 Digitized for FRASER •Revised. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF TEE F3ISHAL RES-&7E jiASKS Oil JA2JUAHY 7, 1931 ^ R E S O U R C ES (In thousands lS of d1ol8lars) s~205b 7 Ub % S ^"2:8 S:& ^g 1LliL!IBM Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 4 —17 a''aiaat 1,723,315 lUi,3U3 434,633 161,469 183,380 85,242 127,854 167,070 75.466 47,121 57,44o 27,015 215,277 7513:IS %l:Wo 11:1% 1 :# I :% V& 1 ; :: 1 :^ l l l l dp lotH sold reserves 2,993,516 207,816 1,066,643 234,697 295,201 110,502 145,360 340,744 107,SoZ 64,24? 90,059 ^.39° 2ol,9b5 reserves' otter than goli 153,832 11,043 45,219 9,535 8,46 7,79b 9,880 22,490 10,007 4,443 7_,o°g_. 9 Total reserves 3,l47,348 a8,859 1,111,862 244,232 303,670 118,298 155,240 363,234 117,875 6S,bSg 97,724 5b,Od4 291,^2 81,652 7,421 4,000 6,342 4,723 4,993 4,809 3,510 6,452 24,432 10,55%- 2,o43 2,373 33 o1n-reserve c?„s n llsMioas » ft™ £SE5-r;ef i:::l i!:g ?:% 35;°i9 ^ 3 .S Total tills discounted 292,38) 11,504 69,4^2 29,l4o 34,180 24,281 22,710 30,019 11,091 4,080 19,t>4l 5,009 31,238 3111s bought in~open~mrket 265,456 23,816 70,723 3,568 26,831 10,006 16,078 4 ,64 10,0fa6 S,8b0 12,703 9,3=3 2,,793 7 9 BKR.™, 1:1 si l;S 1:1 iS ?:S It &§ 11 S:S II S:f Total U.S.Govt, securities 658,901 47,511 238,04l 51,625 59,680 12,582 7,717 82,b03 24,801 2o,40o 2%,781 29,984 4o,170 850 2,850 650 1,000 1,000 308 Gther securities 6,558 62,125 Total hills pud securities 1,223,300 83,681 381,106 84,983 121,691 46,869 .46,505-161,271 45,958 39,55% 44,35b 105.201 ^ t 25,46s2 a M £ mB ^ ^ i ,j , | M| | * »i 9 l io m ill other resources 20,8; 0 26 7,272 l6o 1,028 1,027 4,575 1,133 3,396 536 26l 600 761 TOTAL RESOURCES 5,078,223 370,840 1,684,5^9 384,126 491,199 214,932 231,5^3 607,273 201,269 123,331 200,137 12o,o20 442,409 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES M'D LIABILITIES OF THE FEIMau kJfcJHVB BASZS GIT JALIUART 7, 1531 L I A B I L I T I ES (In thousands of dollars) B-208c Total Boston Hew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, P.E.notes tn actual circulation 1,624,898 127,006 365,265 146,405 191,063 95,566 133,973 142,337 84,163 52,219 68,254 31,443 187,204 Deposits: 61,534 60,618 342,472 72,840 86,321 58,898 Member bank - reserve account 24,689 2,081 3,603 2,668 2,513 2,995 2,307 1,216 900 545 3,315 l,6o4 442 Government deposits 5.779 428 1,94s 565 577 228 20b 771 200 131 166 171 388 Foreign "bank 25,390 157 12,037 110 5,005 164 249 543 558 150 193 100 6,119 Other deposits Total deposits 2,499,717 154,000 1,045,459 149,835 206,831 64,921 63,380 345,002 74,498 51,517 90,000 60,773 193,001 Deferred availability items 496,970 56,511 125,191 43,929 47,501 35,762 15,515 57,790 25,657 8,644 28,411 20,447 31,612 Capital paid in 169,66s 11,877 65,573 16,793 15,311 5,801 5,333 20,145 5,052 3,065 4,310 4,399 11,504 Surplus 274,636 21,299 30,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 8,936 18,475 Ai_ other liabilities 12,339 147 2,431 99 1,022 76s 1,935 2,063 1,337 742 46o 622 613 5,078,22s 370,84o 1,684,549 384,126 491,199 214,932 231,543 607,273 201,269 123,331 200,137 126,620 442,409 TOTAL LIABILITIES Heserve ratio (per cent) 76.3 77.9 78.8 32.4 76.3 73.7 78.5 74.5 74.3 66.2 61.S 60.8 76.7 Contingent liability on bills purchased for foreign correspondents 44o,326 33,010 144,996 43,573 44,454 17,605 15,345 59,4lS 15,405 10,123 12,764 13,204 29,929 FEDERAL RESERVE NOTE STATEHE HT Federal reserve notes: Issued to F.Rbank by 3T.R.Agent 2,101,839 165,993 522,437 180,378 233,433 108,973 162,4o4 203,556 93,069 57,190 81,218 36,971 256,267 t Held by Federal reserve bank 476,991 38,987 157,172 33,973 42,370 13,407 28,431 61,219 8,906 4,971 12,964 5,52s 69,063 In actual circulation 1,624,898 127,006 365,265 146,405 191,063 95,566 133,973 142,337 84,163 52,219 68,254 31,443 187,204 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 636,009 35,300 395,729 38,700 20,550 5,150 7,500 to,000 14,085 11,825 17,170 50,000 Gold fund - F. R. Board 1,055,180 104,617 25,000 121,300 165,000 73,000 118,150 123,000 59,800 34,500 56,000 9,050 160,763 Eligible paper 508,820 32,620 121,292 25,797 56,642 32,566 37,341 72,7^ 19,617 11,557 31,174 13,072 54,402 Total collateral 2,200,009 172,537 542,021 185,797 242,192 115,716 162,991 235,740 93,502 57,882 87,174 39,292 265,165 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to To tal Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 292,385 203,724 21,889 31,4s 22,799 11,287 1,197 Bills boug&t in open market 265,456 l4l,7S5 60,355 34,43 27,929 953 Certificates and bills 342,550 24,182 111,430 206,938 Municipal warrants 858 169 12 3 674 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis