H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT JOB ,I$E PRESS ReleagfK. f# publication S-246 Saturday morning, Feb. 14; Federal Reserve Board not earlier. February 13, 1931 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending February 11, as reported by the Federal reserve banks, was $948,000,000, a decrease of $19,000,000 compared with the preceding week and of $233,000,000 compared with the corresponding week in 1930, On February 11 total reserve bank credit amounted to $929,000,000, a decrease of $20,000,000 for the week. This decrease corresponds with a decrease of $14,000,000 in member bank reserve balances and increases of $21,000,000 in Treasury currency and $2,000,000 in monetary gold stock, offset in part by an increase of $18,000,000 in money in circulation. There was practically no change during the week in the System's holdings of discounted bills, the principal changes by Federal reserve banks being an increase of $7,000,000 at New York and of $2,000,000 each at Cleveland and San Francisco, and a decrease of $4,000,000 at Chicago and of $2,000,000 each at Atlanta and Kansas City. The System's holdings of bills bought in open market declined $16,000,000 and of U. S. bonds $3,000,000, while holdings of Treasury notes increased $2,000,000 and of Treasury certificates and bills $1,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 11, 1931, mere as follows: Increase or decrease since Feb. 11 Feb. 4 Feb. 12 1931 1931 1930 (in millions of dollars) Bills discounted 222 1 _ 160 Bills bought gg — 16 — 188 United States securities 610 — + 131 Other reserve bank credit 9 - 3 — 55 TOTAL RESERVE BANK CREDIT 929 _ 20 271 Monetary gold stock 4,651 4- 2 + 339 Treasury currency adjusted 1,782 + a - 19 Money in circulation 4,594 18 + 50 Member bank reserve balances 2,365 — 14 + 58 Unexpended capital funds,nonmember deposits,etc. 403 - 1 - 60 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, Feb, 14,1931; not earlier. B-246a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL P.S3SF.V2 BAMS COMBINED (In thousands of dollars) Feb. 11.1931 Feb. 4,1931 Feb. 12,1930 R E S O U R C ES Gold with Federal reserve agents . .. 1,752,459 1,724,459 1,646,634 Gold redemption fund with U.S.Treasury 34,467 34,844 Gold held exclusively against F.R.notes 1,786,926 1,759,303 1,704,192 Gold settlement fund with F. R. Board 470,484 419,179 664,423 Gold and gold certificates held by "banks 820,081 897,930 606,363 Total gold reserves 3,077,491 3,076,412 2,974,978 Reserves other than gold 176,855 184,445 198,479 Total reserves 3,254,346 3,260,857 3,173,457 Non-reserve cash 76,649 78,119 68,031 Bills discounted: Sec. by U.S.Government obligations . 79,396- ^ , 74,578 212,650 Other bills discounted 142,793-^ ' 148.339 169,264 Total bills discounted . . . 222,189 222,917 381,914 Bills bought in open market 87,739 104,275 276,084 U. S. Government securities: Bonds 80,906 83,728 69,592 Treasury notes 192,121 190,190 186,182 Certificates and bills 336,593 335,593 222,786 Total U.S. Government securities 609,620 609,511 478,560 Other securities - 11,280 Total bills and securities . . 919,548 936,703 1,147,838 Dae from foreign banks 711 704 721 F. R. notes of other banks 17,785 22,875 23,693 Uncollected items 444,122 467,135 627,119 Bank premises 58,098y1 58,039 58,311 All other resources 19,2%3 19,028 13,802 TOTAL RESOURCES 4,790,5^ 4,843,460 5,112,972 L I A B I L I T I ES F. R. notes in actual circulation . i,48i,oo6 1,476,742 1,682,444 Deposits: Member bank - reserve account . . 2,364,686 2,378,806 2,307,658 Government , 28,913 51,792 11,743 Foreign bank 5,306 5,456 6,305 Other deposits 18,445 18,744 64,288 Total deposits 2,417,350 2,454,798 2,389,994 Deferred availability items . . . , 435,473 455,356 575,596 Capital paid in 169,296 169,361 171,434 Surplus 274,63> i .274,636 276,936 All other liabilities 12,7m 12,557 l6,568 TOTAL LIABILITIES . . .. 4,790,5^ 4,843,460 5,112,972 Ratio of total reserves to deposit and F. R. note liabilities combined . . S3.5 i 82.9# 77-9# Contingent liability on bills purchased for foreign correspondents 445,6s4 448,382 523.891 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BAMS OH FEBRUARY 11, 1931 P T s n r iR C ES (In thousands of dollars) 13 91 ^:%i j$ M°° Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. im 3 9 16 7 25 ,%l fdl °:7?^ l:™ 1£ 0 1511i S11:511 :S1SH . j r- i:: ^ is ^ ^ p*£ Bi EEBr,r— 3?r s- Tnt.ai t i l l, discounted 222,139 10,723 51,461 23,978 25,725 18,453 a,979 18-759 8,920 3,946[ 14,423 6 113 1 7,709 Bills 87773; 7.576 W.T* 3.3U1 9,468 2.692 4,802 13,923 3.847 2 , i a ^ 4 , 3 70 2,663 5,180 S i r™ IS .11 gf If IS -M 11 si ,;g a iSI sa u Tnt.i tt s ivwt- securities 609,620 46,553 193,928 50,564 58,359 17,261 7,719 81,844 24,151 26,303 34,028 29 , 37 3,, Tnt>1 tills and securities 919,548 64,852 273,145 77,883 93,552 38,406 34,500 114,526 36,918 32.370 52,8a 38,213 62,362 3 Isllfs^ ft^l "1 i "I11 11 11 lil T0IAL RESOURCES 4,790,5<j2 353,023 1,544,159 365,690 464,46 2 201,485 224,684 596,^192.024 116,391 190,567 119,796 421,973 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AIID LIABILITIES OF THE FEDERAL RESERVE BAKES OF FEBRUARY 11, 1931 L I A B I L IT I E S (In thousands of dollars) B-246c Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,481,006 124,825 273,976 143,395 181,788 83,700 130,701 148,062 79,255 48,807 66,069 27,267 173,161 Deposits: Member tank - reserve account 2,364,686 143,999 992,741 140,412 189,602 62,942 59,339 331,813 70,593 46,723 84,202 57,944 184,376 Government deposits 28,913 2,026 7,529 1,248 1,280 2,738 1,986 1,630 2,914 1,421 2,450 1,339 2,302 Foreign bank 5.306 431 1,446 570 581 230 207 777 201 132 167 173 391 Other deposits 18,445 49 8,466 247 2,031 90 4oo 480 500 1 29 274 lh 5,705 Total deposits 2,417,350 146,505 1,010,182 142,477 193,494 66,050 61,932 334,700 74,208 48,405 87,093 59,530 192,774 Deferred availability items 435,473 48,358 111,004 35,775 43,346 33,101 13,923 51,375 21,796 8,198 24,029 19,088 25,480 Capital paid in 169,296 11,879 65,657 16,784 15,861 5,762 5,277 20,077 4,880 3,057 4,254 4,352 11,456 Surplus 274,636 a,299 80,575 27,065 28,971 12,114 10,857 39.93U1 10,562 7,144 8,702 8,936 18,475 All other liabilities I2,7%r-1 157 2,795 194 1.002 758 i,qq4 2.9&E 1.323 780 420 623 6?7 % TOTAL LIABILITIES 4.790.5Q2 353,023 1,544,189 365,690 464,462 201,485 224,684 596,218 192,024 116,391 190,567 119,796 421,973 Reserve ratio (per cent) 83 83.5 86.6 84.6 83.5 77.5 84.1 79-9 72.5 68.7 64.9 88.2 Contingent liability on bills pur- £ S3-3 * chased for foreign correspondents 445,684 33,558 145,449 44,297 45,192 17,898 16,108 60,405 15,061 10,291 12,976 13,423 30,426 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,897,944 154,963 415,909 171,006 212,699 99,943 157,340 198,078 88,005 53,397 78,818 31,860 235,926 Held by Federal reserve bank 4l6,938 30,138 141,933 27,611 30,911 16,243 26,639 50,016 8,750 4,590 12,749 4,593 62,765 In actual circulation 1,481,006 124,825 273,976 143,395 181,788 83,700 130,701 l48,062 79,255 48,807 66,069 27,267 173,161 Collateral held by agent as security for notes issued to bank: Gold and gold certificates 652,729 35,300 381,919 38,700 12,550 5,150 7,900 73,000 14,085 11,825 12,300 60,000 Gold fund - F. R. Board 1,099,730 109,617 15,000 121,300 175,000 80,000 125,500 123,000 63,800 37,200 65,000 13,550 170,763 Eligible paper 265,920 15,772 63,716 21,545 31,759 19,422 25,188 28,056 10,616 4,766 17,499 7,279 20,30 2 Total collateral 2,018,379 160,689 460,635 181,545 219,309 104,572 158,588 224,056 88,501 53,791 82,499 33,129 251,065 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 222,189 140,520 33,099 29,801 19,439 9,481 2,849 Bills bought in open market 87,739 22,097 15,686 35,734 13,866 356 Certificates and bills 336,593 26,607 122,067 187,919 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis