H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS B-239 Released, for publication Federal Reserve Board Friday morning, Feb. 6; February 5> 1931. not earlier, CONDITIO!! OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending February 4, as reported by the Federal reserve banks, was $967,000,000, a decrease of $24,000,000 compared with the preceding week and oi $249,000,000 compared with the corresponding week in 1930. On February 4 total reserve bank credit amounted to $949,000,000, a decrease of $7,000,000 for the week. This decrease corresponds with a decrease of $46 000,000 in member bank reserve balances and an increase of $12,000,000 in monetary gold stock, offset in part by an increase of $32,000,000 in money in circulation and a decrease of $20,000,000 in Treasury currency. Holdings of discounted bills increased $4,000,000 at the Federal Reserve Bank of San Francisco, $2,000,000 each at Hew York and Kansas City and $8,000,000 at all Federal reserve banks during the week. The System's holdings of bills bought in open market declined $16,000,000 and of Treasury certificates and bills $'1,000*000, while holdings of U. S. bonds increased $1,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 4, 1931, were as follows: Increase or decrease since Feb. 4 Jan. 22 Feb. 5 1931 1A31 1930,,.,, (In millions of dollars) Bills discounted 223 + 8 158 Bills bought 104 - 16 - 192 United States securities ^10 ~ + ?7 Other reserve bank credit 12 + 2 ' TOTAL RESERVE BANK CREDIT , 949 - 7 " f}j5 Monetary gold stock 4,o4-9 + 12 + 3 5 Treasury currency adjusted 1,7&1 - 20 -5 Money in circulation 4,576 + 32 + kn Member bank reserve balances 2,379 ~ ^ + nil! Unexpended capital funds .nonmeniber deposits,etc. 404 - 1 -14 As Thursday, February 12, will be observed as a holiday by most of the Federal reserve banks, the statement for next week will be issued on Friday, February 13. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Feb. 6,1931, n0* earlier B—239a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Feb. 4.1A31 Jan. 28.1931 Feb. 5.1930 R E S O U R C ES Gold with Federal reserve agents . . . 1,724,459 1>784,009 1,646,264 Gold redemption fund with U.S.Treasury 34,844 35,284 58,258 Gold held exclusively against F.R. notes 1.759.303 1,819,293 1,704,522 Gold settlement fund with F. R. Board 4l9 ,179 418,335 661,780 Gold and gold certificates held "by "banks 897,930 854,086 610,2bl Total gold reserves 3,076,412 3,091,714 2,976,563 Reserves other than gold 184,44$ 186,718 199 »872 Total reserves . . . . . 3,260,857 3,278,432 3,176,435 Non-reserve cash . . 78,119 86,539 69,l44 Bills discounted: Sec. by U.S.Government obligations . 74,578 68,206 197,928 Other bills discounted 148,339 146,931 183,494 Total bills discounted . . .. 222,917 215,137 381,422 Bills bought in open market . . . .. 104,275 1 20,241 295>791 U. S. Government securities: Bonds 83,728 8 2,980 69,679 Treasury notes 190,190 190,135 171,22b Certificates and bills 335,593 33o,762 236,939 Total U.S. Government securities 609,511 609,877 477,844 Other securities - 150 12,180 Total bills and securities , . . 936,703 945,405 1,167,237 Dae from foreign banks 704 702 722 F. R. notes of other banks . . . . . .. 22,875 22,300 26,147 Uncollected items 467,135 445,328 568,331 Bank premises 58,039 58,034- 58,267 All other resources 19,028 18,642 13,479 TOTAL RESOURCES 4,843,460 4,855,382 5,079.762 L I A B I L IT I BS F. R. notes in actual circulation . . 1,476,742 1,478,302 1,683,481 Deposits: . r Member bank - reserve account . . . 2,378,806 2,424,906 2,338,854- Government . . 51,792 34,629 25,552 Foreign bank 5,456 6,357 5,669 Other deposits 18,744 18,583 19,226 Total deposits . . .. 2,454,798 2,484,475 2,389,301 Deferred availability items . . .. 455,356 435,879 542,446 Capital paid in l69,36l 169,531 171,547 Surplus 274,636 274,636 276,936 All other liabilities 12,567 1 2,559 1°>°51 TOTAL LIABILITIES . . .. 4,343,460 4,855,382 5,079.762 Ratio of total reserves to deposit and F. R. note liabilities combined . . 82.9$ 82.1% 78.0/6 Contingent liability on bills purchased for foreign correspondents . . .. 448,382 442,435 526,924 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS Oi\T FEBRUARY 4, 1931 R E S O U R C ES (In thousands of dollars) B-239% Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St. Louis Minn, Kans.Cy. Dallas San Frai Gold with Federal reserve agents 1,724,459 144,917 394,91? l60,000 187,550 85,150 1 28,900 186,000 76,885 48,525 65,000 25,850 220,763 Gold redemption fund with U.S.Treasury 34,844 1,344 13,734 1,332 2,730 1,264 1,647 4,o44 1.561 486 1.423 788 4.491 Gold held exclusively against notes 1,759.303 146,261 408,653 161,332 190,280 86,4i4 130,5^7 190,044 78,446 49,011 66,423 26,638 225,254 Gold settlement fund with F.R. Board 419,179 28,04' 113,716 38,378 43,408 6,475 11,042 72,286 20,520 11,609 19.029 17,568 37,103 Gold and gold cert if. held by banks 897,930 37,27" 560,708 27.729 67.973 10.650 7.773 110.603 11.157 5.910 12.718 6.321 -39,094 Total gold reserves 3,076,412 211,580 1,083,077 227,439 301,661 103,539 149,362 372,933 110,123 66,550 98,170 50,527 301,451 Reserves other than gold 184,445 16,047 51,415 11,582 12,909 11,278 10.660 25,921 11,505 5,117 8.621 8,859 10.551 Total reserves 3,260,857 227,627 1,134,492 239,021 314,570 114,817 160,022 398,854 121,628 71,667 106,791 59,366 312,002 Non-reserve cash 78,119 10,073 17,565 4,436 6,079 5,562 5,522 10,888 4,909 1,875 1,906 3,706 5,598 Bills discounted Secured by U.S.Govt, obligations 74,578 3,669 18,787 9,070 12,112 2,293 502 10,865 3,881 397 857 3366ii 1111,,778844 Other bills discounted 148,339 7,303 25,686 15,229 11.926 17,632 23,135 11,691 6,06l 3.808 16,056 5,703 4.109 Total bills discounted 222,917 10,972 44,473 24,299 24,038 19,925 23,637 22,556 9,942 4,205 16,913 6,o64 15,893 Bills bought in open market 104,275 8,027 31,551 3,582 10,326 3.90S 6,298 17,358 4,229 2,714 4,528 3,745 8,009 U. S. Government securities: Bonds 83,728 1,820 38,227 1,353 l,l6l 1.531 272 22,191 692 5.071 663300 10,380 44oooo Treasury notes 190,190 14,999 42,204 19,640 25,673 5,446 4,266 20,666 13,102 9.193 9,453 6,323 19,220 Certificates and bills 335.593 29,734 118.497 29 . 571 31,525 10.284 3.235 38.987 10.357 11.876 18,940 12,734 .19,853 Total U.S. Govt, securities 609,511 46,553 198,928 50,564 58,359 17,261 7,773 81,844 24,151 26,140 29,028 29,437 39,473 Total bills and securities 936,703 65,552 274,952 78,445 92,723 41,094 37,708 121,758 38,322 33.059 50,469 39 , 246 63,375 Due from foreign banks 704 53 233 69 71 28 25 95 25 16 20 21 48 F. R. notes of other banks 22,875 264 10,246 320 1,171 2,233 1,219 2,581 1,107 "575 1,351 346 1,475 Uncollected items 467,135 50,032 128,764 45,926 44,557 34,964 12,395 54,374 20,932 8,730 26,384 17,081 22,996 Bank premises 58,039 3,458 15,240 2,6I4 6,973 3,305 2,573 8,06l 3,635 1,926 3.803 1,830 4,621 All other resources 19,028 l4g 6,683 228 1.113 1.067 4.262 1,315 2,353 533 24q 664 4il TOTAL B2S0URCES 4,843,460 357,207 1,588,175 371,059 467,257 203,057 223,726 597,926 192,911 118,381 190,973 122,260 4io,52S Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES JfflD LIABILITIES OF THE FEDERAL RESERVE BANKS 01 FEBRUARY 4, 1931 L I A B I L I T I ES (in thousands of dollars) B-239c Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. ?.R.notes In actual circulation 1,476,742 127,734 260,828 138,688 178,177 86,380 131,802 l44,4gs 80,45 2 49,495 66,383 27,849 164,456 Deposits: Member "bank - reserve account 2,378,806 144,513 993,399 l44,l64 193,845 61,846 59,171 335,424 70,196 48,435 83,649 60,609 183,555 Government deposits 51,792 1,367 34,615 897 2,770 2,054 1,123 867 2,099 672 1,940 1,684 1,704 Foreign hank 5,456 431 1,596 570 581 230 207 777 201 132 167 173 391 Other deposits 18,744 35 8,57b 125 2,274 ^2 5l4 518 569 197 276 61 5.547 Total deposits 2,454,798 146,346 1,038,186 145,756 199,470 64,182 61,015 337,58b 73,065 49,436 86,032 62,527 191,197 Deferred availability items 455,356 49,813 120,184 42,593 43,816 33,868 12,774 53,772 22,620 8,449 25,167 17,978 24,322 Capital paid in 169,361 11,877 65,682 16,784 15,846 5,756 5,283 20,098 4,883 3,o66 4,261 4,362 11,463 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 18,475 All other liabilities 12,567 138 2,720 173 977 757 1.995 2.036 1.329 791 428 608 6lS TOTAL LIABILITIES 4,s43,46o 357,207 1,588,175 371,059 467,257 203,057 223,726 597,926 192,911 118,381 190,973 122,260 410,528 Reserve ratio (per cent) 82.9 83.1 86.0 84.0 83.3 76.3 83.0 82.7 79.2 72.4 70.1 65.7 87.7 Contingent liability on bills purchased fdT foreign correspondents 448,382 33,558 l4S,l4g 44,297 45,192 17,898 l6,108 60,405 15,660 10,291 12,976 13,423 30,426 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,902,134 154,796 422,023 172,120 214,544 101,107 156,836 196,412 88,397 53,586 79,686 32,351 230,276 Held by Federal reserve bank 425,392 27,062 l4l,195 33,432 36,367 14,727 25,034 51,914 7.945 4,091 13.303 4,502 65.820 In actual circulation 1,476,742 127,734 280,828 138,688 178,177 86,380 131,802 l44,498 80,452 4g,4g5 66,383 27,849 164,456 Collateral held by agent as se- ^0 QQ curity for notes issued to bank: 1 1 , Gold and gold certificates 582,729 35,300 / 329,919 38,700 112,550 5,150 7,900 63,000 14,035 11,825 - 14,300 50,000 Gold fund - F. R. Board 1,l4l,730/109,6l7 / 65,000 121,300/175,000 80,000 121,000 123,000 62,800 36,700 65,000 11,550 170,763 Eligible paper 282,lW l6,20T 59,976 22,728 30,60 7 22,04 2 28,278 34,966 1 2,l4g 5,576 20 , 088 8 , 368 a.l69 Total collateral 2,006,-6eg l6l,lf^ 454,895 182,7^8 218,157 107,192 157,178 220,966 89,027 54,101 85,088 34,218 241,932 <*-"7 MATURITY DISTRIBUTION' OF BILLS AID SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to oO days 6l to 90 days months° Over 6 months Bills discounted 222,917 139,548 19,927 30,6l8 20,844 9,674 2,306 Bills bought in open market 104,275 3 2,460 13,314 3 3,J1® 23,831 930 Certificates and bills 335,593 25,607 - - - 122,067 187,919 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis