H.4.1 Factors Affecting Reserve Balances of Depository Institutions

5TAT3I-CT FOR TUB PRESS RneeJl.eeaassteiud. fj.ourr pjjuubuliiiucaait/iiounu 3 Friday morning, Jan. 23; Federal Reserve Board not earlier, January 22, 193 COFDITIOF OF FEDERAL RESERVE BA'TIIS The daily average volume of Federal reserve bank credit outstanding during the week ending January 21, as reported by the Federal reserve banks, was $1,064,000,000, a decrease of $111,000,000 compared with the preceding week and of $229,000,000 compared with the corresponding week in 1930. On January 21 total reserve bank credit amounted to $1,020,000,000, a decrease of $91,000,000 for the week. This decrease corresponds with decreases of $56,000,000 in money in circulation and $23,000,000 in member^"bahk^reserve balances and increases of $6,000,000 in monetary gold stock and ^b,000,000 in Treasury currency. Holdings of discounted bills decreased $8,000,000 at the x. ederal Reseive Bank of Few York, $3,000,000 at Chicago and $13,000,000 at all^Federal reserve banks during the week. The System's holdings of bills bought in open market declined $44,000,000, of U. S. bonds and Treasury notes $8,000,000 each, and of Treasury certificates and bills $2,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January 21, 1931, were as follows: Increase or decrease since Jan. 21 Jan. l4 Jan. 22 1931 1931 1930 (In millions of dollars) - 13 - 203 Bills discounted 230 152 - 44 - l46 Bills bought 625 - 19 rk l4s United States securities i4 - 13 47 Other reserve bank credit - TOTAL RESERVE BAJTK CREDIT 1,020 - 91 249 4,631 + 6 + 3^7 Monetary gold stock 1,787 + 6 + 5 Treasury currency adjusted - 56 + 4l iioney in circulation ^,593 2,441 - 23 + SI Member bank reserve balances IS Unexpended capital funds.nonmember deposits,etc.4o4 c. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Jan. 23,1931; not earlier. B-223a RESOURCES AFT LIABILITIES OF THE TWELVE FEDERAL R.^SWE BAIL'S COMBIFSD (In thousands of dollars) Jan. 21.1931 Jan. 14.1931 Jan.22.1930 R E S O U R C ES ; Gold with Federal reserve agents 1,763,219 1,740,589 1,680,014 Gold redemption fund with U.S. Treasury 3% 668 36,288 59,758 Gold held exclusively against F.R.notes 1,792,887 1,776,877 1,739,772 Gold settlement fund with F. R. Board 421,588 447,i4o 60S,940 Gold and gold certificates held by banks 853,673 834,560 626,503 Total gold reserves 3,074,14s 3,058,577 2,975,215 Reserves other than gold 180,136 172,878 196,303 Total reserves 3,254,284 3,231,455 3,171,518 Fon-reserve cash 85,071 84,498 76,35^ Bills discounted: Sec. by U. S. Government obligations . 79,612 86,750 239,394 Other bills discounted. 150,273 156,590 193,829 Total bills discounted 229,585 243,340 433,223 Bills bought in open market 151,625 196,180 298,389 U. S. Government securities: Bonds 96,632 105,419 69,610 Treasury notes 181,452 189,439 170,213 Certificates and bills 346,507 349,459 236,839 Total U.S.Government securities . 624,591 644,317 476,662 Other securities 650 5,550 14,530 Total bills and securities . . 1,006,751 1,089,387 1,222,804 Due from foreign banks 712 708 725 F. R. notes of other banks 26,194 26,015 30,679 507,312 568,311 629,637 Bank premises 53,034 57,924 58,213 All other resources 19,032 20,403 12,231 TOTAL RESOURCES 4,957,390 1JV O 0 M 5,202,161 L I A B I L I T I ES F. R. notes in actual circulation . . . 1,517,843 1,552,702 1,739,241 Deposits: t"ember bank - reserve account . . .. 2,440,730 2,463,596 2,359,801 Government 22,650 32,202 26,071 Foreign bank 6,o4o 5,75S 6,95s Other deposits 18,734 19,752 22,148 Total deposits 2,488,154 2,521,308 2,414,978 Deferred availability items 494,734 547,803 584,189 Capital paid in 169,712 169,807 171,253 Surplus 274,6)6 274,636 276,936 All other liabilities 12,311 12,445 15,564 TOTAL LIABILITIES 4,957,390 5,078,701 5,202,161 Ratio of total reserves to deposit and F. R. note liabilities combined . . 81.2 $ 79-31° 76.3% Contingent liability on bills purchased for foreign correspondents 448,667 448,809 530,600 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AKD LIABILITIES OF TKH! FEDERAL RESERVE BAMS Oil JAHJABY 21, 1931 13 57 R E S O U R C ES (In thousands of dollars) B-c2ia :: ^ ^ *?•% ^ ^s w irt^ Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Ha.ns.Cy. Dallas San Fran ^ ^ t:: "n-$* r 1 notis1USiVely a,,ainst 1,798,887 146,307 474,55s 161,402 125,335 84,587 135,224 1 67 m ,05s 77 ,458 48,618 64,432 2»,b42 225,206 Totalgoid reserves 3,074,148 205,828 1,123,731 226,364 293,010 104,860 155,055 360,995 103,196 65,901 95,Vl? 50,296 229/93 Reserves other than gold 180.136 15.537 51.978. 11,662—ll^fll—10,105—10, 13.8—25,79*4—11,20c. 4,9.5° 0»~rl4 Total reserves 3,254,284 221,365 1,175,709 238,026 304,481 114,965 165,193 3^6,789 ll4,4o4 JO,83J 103,833 56,4ol ;00,201 ^on-reserve cash 85,071 H,l46 21,086 4,564 6,846 4,840 4,485 11,000 5,201 2,214 2,187 3,474 8,02o Bi S O ll e t s c h d u er i r s e b d c i o b l u y ls n t U e d . d i S : s . c G o o u v n t t , e d o bligations I J R - 7 , Q 9 'v , 6 l c 2 1 l 7 J 2 1 3 7 , , 1 8 0 3 4 1 1 23 8 . , 8 9 6 0 7 0 1 9 6 , , 3 3 8 9 2 0 1 11 5 . ,0 49 9 1 s 1 3 7 , . 6 9 3 5 4 5 21.4 5 4 1 9 6 1 8 1 , . 9 8 0 22 5 4 6 , .4 7 9 0 9 8 1.6 5 0 77 8 1 1 5 , . 0 0 2 68 8 5,0 4 7 7 0 6 . 13 5 , , 2 2 8 2 4 3 Total "bills discounted 229,885 10,935 42,767 25,772 28,589 21,589 21,965 22,727 11,207 4,185 16,096 5,546 18,507 13,571 Bills bought in open market 151,625 11,506 38,600 3,568 16,939 6,239 9,092 28,503 5,94s 5,505 6,920 5,234 U. S. Government securities: B T o re n a ds s ury notes 1 9 8 6 1 , , 6 4 3 5 2 2 1 1 4 , , 7 9 9 9 9 9 3 5 3 0 , ,9 5 7 5 7 4 1 1 9 , , 3 6 5 4 3 0 2 1 5 , , 1 6 6 7 2 3 1 5 , , 5 4 3 4 1 6 4,2 2 5 2 7 0 2 2 2 0 , ,6 1 6 91 6 13,1 6 0 9 2 2 9 5, , 2 H 9 4 7 9,4 6 5 3 8 0 1 6 0 , , 3 3 2 80 3 19,2 4 2 00 0 Certificates and bills 7•yk-gtv R, ;0v7 i <29-j 7, 1I Rl , 1 -L 2 '-r 9 Jl . .J 1 — 9 J 7 -L 29.571 11.524 10.284 1.219 38,987 10,357 11,886 is,q4o 12,734 . 19,253 29,02s Total U.S.Govt, securities 624,591 46,533 213,928 50,564 58,359 17,261 7,716 81,844 24,151 26,297 29,437 39,473 Other securities 650 100 550 1,006,751 Totaibills and securities 69,074 295,845 79,904 103,887 45,089 32,773 133,074 4ijo6 35,937 52,044 40,217 71,551 l i l F^ || 4 'il 4 4 4 4 4 4 i 4 4 4 All other resources 19.012 110 6 4*53 170 1.015 1,008 4,356 1,029 3,0°^ ^2 d5 ^ T TOTAL RESOURCES 4,957,390 359,655 1,656,380 370,078 472,781 216,73s 235,610 604,863 192,066 121,312 190,221 121,980 415,706 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BAHS OF JAHXAR7 '21, 1931 L I A B I L I T I ES (In thousands of dollars) B-223c Total Boston Few. York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,517,843 128,261 307,745 lUo.oUy 121,323 83,833 135,116 143,408 81,447 49,997 67,4oi 29,281 164,984 Deposits: Vember bank - reserve account 2,440,730 142,557 1,061,784 142,431 193,517 62,967 59,664 337,108 66,994 49,918 83,240 58,752 181,798 Government deposits 22,650 1,27s 2,830 2,390 2,273 1,707 3,643 2,191 1,243 1,501 805 1,638 l,146 Foreign bank 6,o4o 428 2,209 565 577 228 206 771 200 131 166 171 388 Other deposits 18,734 92 8,611 121 2,352 181 247 483 573 119 218 98 5,639 Total deposits 2,488,154 144,355 1,075,434 145,507 198,719 65,083 63,765 340,553 69,010 51,669 84,429 60,659 188,971 Deferred availability items 494,734 53,754 124,303 4O,553 46,^94 44,164 18,609 58,811 24,656 8,68b 2^,990 18,132 31,182 Capital paid in 169,712 11,877 65,632 16,784 15,914 5,802 5,285 20,099 5,052 3,062 4,265 4,386 11,504 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 8,936 13,475 All other liabilities 12,311 109 2,641 122 960 742 1,978 2,056 1,339 754 434 586 590 TOTAL LIABILITIES 4,957,390 359,655 1,656,380 370,078 472,781 216,738 235,610 604,863 192,066 121,312 190,221 121,980 415,706 Reserve ratio (per cent) 81.2 81.2 85.0 83.4 80.1 74.7 83.1 79-9 76.0 69.7 68.4 65.O 84.8 Contingent liability on bills pur- 10,312 13,002 chased for foreign correspondents 448,667 33,627 147,815 44,388 45,285 17,935 l6,l4l 60,529 15,693 13,451 30,489 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 2,031,901 160,439 514,095 174,671 219,763 104,173 162,528 196,410 90,635 55,05s 79,459 34,639 239,981 Held by Federal reserve bank 514,058 32,178 206,350 34,624 38,440 15,340 27,412 53,002 9,238 5,061 12,058 5,358 74,997 307,745 140,047 181,323 88,833 135,116 143,408 81,447 49,997 67,401 29,281 164,984 In actual circulation 1,517,843 128,2bl Collateral held by agent as security for notes issued to bank: 395,729 12,550 7,900 40,000 14,085 14,300 50,000 Gold and gold certificates 625,539 35,300 38,700 5,150 11,825 Gold fund - F. R. Board 1,137,630 109,617 65,000 121,300 170,000 78,000 125,650 123,000 61,800 36,000 63,000 13,550 170,763 Eligible paper 336,319 19,742 65,039 23,085 41,871 26,361 29,721 46,280 15,207 8,359 21,802 9,46o 29,392 Total collateral 2,099,538 164,659 525,76s 183,085 224,421 109,511 163,271 209,280 91,092 56,184 84,802 37,310 250,155 MATURITY DISTRIBUTION OF BILLS ATD SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 3\ ^ t h^ Over 6 months Bills discounted 229,885 147,597 19,316 29,716 20,414 11,250 1,592 Bills bought in open market 151,625 71,659 27,266 21,502 29,926 1,242 Certificates and bills 346,507 26,107 122,969 197,431 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis