H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Friday morning, Feb. 20; Federal Reserve uoard not earlier. February 19, 1931» CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending February 18, as reported by the Federal reserve banks, vsas $9UO,000,000, a decrease of $8,000,000 compared with the preceding week and of $243 ,000,000 compared with the corresponding week in 1930. On February 18 total reserve bank credit amounted to $905,000,000, a decrease of $24,000,000 for the week. This decrease corresponds with a decrease of $34,000,000 in money in circulation and an increase of $10,000,000 in monetary gold stock, offset in part by an increase of $15,000,000 in member bank reserve balances and a decrease of $4,000,000 in Treasury currency. Holdings of discounted bills declined $14,000,000 at the Federal Reserve Bank of New York, $3,000,000 each at Cleveland and Kansas City, and $22,000,000 at all Federal reserve banks during the week. The System's holdings of bills bought in open market increased $6,000,000 and of Treasury notes $4,000,000, while holdings of Treasury certificates and bills declined $13,000,000 and of U. S, bonds $2,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 18, 1931• were as follows: Increase or decrease since Feb. 18 Feb. 11 Feb. 19 1931 1931 1930 (In millions of dollars) 22 Bills discounted 200 — - 177 6 Bills bought 94 + - 187 United States securities 600 - 10 + 119 2 Other reserve bank credit 11 + - 19 TOTAL RESERVE BANK CREDIT 905 24 — 264 Monetary gold stock 4,661 + 10 + 330 20 Treasury currency adjusted 1,778 4 + — Money in circulation 4,560 34 + 37 65 Member bank reserve balances 2,380 + 15 + 16 Unexpended capital funds.nonmember deposits,etc. 4o4 + 1 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Feb. 20, 1931', not earlier. B-251a • RESOURCES A1JD LIABILITIES OF THE TWELVE FEIMAL RESERVE BAIJKS COMBINED (In thousands of dollars) Feb. 18,1931 Feb. 11.1931 Feb.19.1930 R E S O U R C ES Gold with Federal reserve agents . . .. 1,713,729 1,752,459 1,663,332 Gold redemption fund with U.S.Treasury . ___34,46j 34,467 55,109 Gold held exclusively against F.R.notes 1,7US,256 1,JSo,926 1,718,44l Gold settlement fund with F. R. Board . 4S0, '+9 7 470,48 4 627,763 Gold and gold certificates held by banks 855.655 820,081 631,3l4 Total gold reserves 3,084,408 3,077,491 2,977,51% Reserves other than gold . 181 995 176,855 199,412 Total reserves 3,266,403 3,254,346 3,176,930 82,298 69,602 Non-reserve cash . . . .. 76,649 Bills discounted: Sec. by U.S. Government obligations . 66 , - 1 0 1 -7 9 , 3 ^ 6 " '^ 204,930 Other bills discounted . . . .. . .. 133,'7£g- & 1 4 - 2 , 7 1 7 2 , 0 13 Total bills discounted . . .. 199,823 222,189 376,943 Bills bought in open market . . . . .. 93,995 87,739 281,057 U. S. Government securities: Bonds 78,971 80,906 69,770 196,215 Treasury notes 192,121 200,532 Certificates and bills 324,488 336,593 210,313 Total U.S. Government securities . ^<^574 609,620 480,615 Other securities - - l4,280 Total bills and securities , . 3^3 1+92 919,548 1,152,895 1 Due from foreign banks 5gg 711 722 F. R. notes of other banks 15,332 17,735 24,896 Uncollected items 513',09 7 444,122 5 27,028 Bank premises 58,'191 58,098 58,388 All other resources 19]336 19,2%3 ^ 13,826 TOTAL RESOURCES . . . , M^7s43 4,790,5^ 2 5,124,287 L I A B I L IT I E S ^ F. R. notes in actual circulation . . . 1 Ijlt-g756 1,481,00b 1,656,161 j f Deposits: Member bank - reserve account . . .. 2,379,736 2,364,686 2,315,411 Government 35,248 28,913 48,987 Foreign bank 5,261 5,306 8,226 Other deposits 19,305 18,445 18,297 ' Total deposits . . 2,439,550 2,417,350 2,390,921 Deferred availability items . . . . .. 502,o28 435,473 oil,818 169,265 169,296 Capital paid in . 171,591 Surplus 274,636 274,636k-f 276,936 All other liabilities 13,013 12,7^1 l6,860 TOTAL LIABILITIES 4,848,848 4,790 , 5^ ^ 5,124,287 Ratio of total reserves to deposit and F. R. notes liabilities combined . . 84.0$ 83.5$ 7^.5f° Contingent liability on bills purchased for foreign correspondents 448,637 445,684 518,664 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE BANKS OH FEBRUARY IS, 1931 B-251b (In thousands of dollars) R E S O U R C ES Minn. Kans.Cy. Dallas San Fran. Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Us,025 67,000 25,850 230,763 484 1,415 781 4,483 S "3i ^ 6 6 n* 1 '™ 7i : to T R?1^ot^1U°11rely ' 1,748,256 146,227 380,579 161,277 190,244 85,220 131.531 195.037 79,340 48,509 68,415 26,631 235.246 8,322 13,192 13.255 33,323 160,011 37,283 47,704 12,396 11,190 98,712 17,874 Gold settlement fund with F. R. Board 480,497 27,235 6,927 29,659 855.655 36,876 538.014 27.545 69 103 5,764 7.9S2 102.569 11,839 6.217 I3.I6O Gold and gold cert if. held "by "banks 94,767 46,813 298,228 3,084,408 210,338 1,078.604 226,105 307,051 103,380 150,703 396,318 109,053 63,048 Total gold reserves 8.751 8.584 10.314 181,995 15,926 49,846 11,660 13.112 11,465 9,501 24,693—12,101—6,042 Reserves other than gold 3 266,403 226.264 1,128,450 237,765 320,163 114,845 160,204 421,011 121,154 69,090 103.518 55,397 308,542 Total reserves - - ~~~ "2 ,33,0696 02 .068,373 5 82,298 9,265 20,120 4,580 6,253 5,347 5,636 11,343 5,363 Non-reserve cash Bi S ll e s c d u i r s e c d o " u by n t U ed . S.Govt. obligations 1 6 33 6 . , 7 ie 2 3 2 r 6 3 ,5 .6 5 4 1 4 1 2 4 3 , . 1 5 0 3 9 2 1 8 5 , . 4 1 5 3 4 1 1 1 2 0 , , 3 4 6 5 1 4 1 1 5 , . 4 8 5 8 9 6 a,3 5 4 7 6 1 1 8 0 , , 2 8 5 39 0 3 5 , ,6 1 1 22 9 3.5 4 2 2 6 8 , ^ 11 7 ,0 2 8 8 2 5,6 1 8 6 7 3 12 4 , ,0 8 6 12 9 Other "bills discounted 199,823\ 10,195 37,641 23,585 22,815 17,345 a,917 19,089 8,741 3,954 11,810 5,850 16,881 Total "bills discounted 93,995 ) 7,980 32,606 2,857 8,335 2,1a 5,829 14,151 4,287 2,685 4,276 2,383 6.485 Bills bou^it in open market \o U. S. Government securities: 33,178 1,353 1,161 1,531 235 22,191 692 5,351 679 10,380 Ijoo B T o re n a d s s ury notes 1 3 7 9 2 8 6 4 , . , 9 4 a 7 8 1 5 8 1 2 1 , 9 5 8 , 2 , 3 3 0 8 5 1 3 1 4 0 4 6 , ,5 1 9 51 9 1 2 9 9 , , 9 2 3 8 1 0 3 26 1 , , 0 1 4 5 6 2 1 5 0, , 1 5 5 7 9 1 4 3, ,3 19 0 7 5 3 2 8 1 , , 5 1 0 4 9 4 1 1 0 3 , , 2 2 3 22 7 1 9 1 , , 2 7 5 3 3 4 1 2 1 2 , , 3 0 1 3 6 3 1 6 2 , , 4 5 7 8 3 4 1 1 9 9 , ,6 4 2 50 3 Certificates and "bills 599,°74 46,554 183,928 50,564 58,359 17,261 7,737 81,844 24,151 26,338 34.028 29,437 39,473 Total U.S. Govt, securities 37,670 62,839 Total "bills and securities 893,492 64,72 5 9 3 2 2 5 4 a ,1 s 75 7 6 7 9 ,006 8 7 9, 1 5 09 36,72 2 7 8 3 2 5 5 ,483 1 9 1 5 5 ,084 37.17 2 9 5 32,97 1 7 6 50,11 2 4 0 21 48 D F. u R e . f r n o o m te f s or e o i f gn ot h " e b r a n " k ba s nks 15,3 6 3 99 2 55,1 2 7 2 0 5 4 l4 ,4 i 6 , 6 lio 4 15 4 6 ,990 1 4 , 9 0 , 9 1 4 2 0 3 1 8 , , 6 2 6 8 9 3 1 1 , 5 1 , 4 1 7 67 6 2 2 , , 3 7 9 1 3 5 22,2 9 8 2 1 2 9,0 5 2 7 3 7 28,5 8 2 3 0 1 19,9 3 7 5 7 2 2 1 6 , , 5 7 0 4 0 1 Uncollected items 513,097 3,458 15,240 2,614 7,065 3,365 2,573 8,061 3,635 1,926 3,803 1,830 4,621 Bank premises 58,191 365 487 All other resources 19.336 ISA 6 -Q70 306 1,172 1.187 4,033 1,269 1,973 531 854 4,848,848 359,353 1,570,759 367,W 474,44? 201,451 224,26s 6a,971 192,532 116,449 189,25s 119,761 411,113 TOT Al tRESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BASKS OH FEBRUARY 18, 1931 L I A B I L I T I ES (In thousands of dollars) B-251C Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,449,756 123,435 261,572 136,686 180,095 82,539130,457147,002 78,920 48,319 &O,347 26,854 167,480 Deposits: Member bank - reserve account 2,379,736 144,419 1,006,920 141,997 196,51s 50,210 58,588 337,816 70,652 46 , 203 80,988 57,177 178,248 Government deposits 35,248 2.77S 5,227 1,811 2,032 2,942 1,124 12,500 979 1,953 1,105 1,037 1,760 Foreign "bank 5,26l 431 1,1401 570 581 230 207 777 201 132 167 173 391 Other deposits 19,305 51 9,612 271 1,677 75 421 592 393 172 253 24 5,756 Total deposits 2,439,550 147,687 1,023,1.60 144,649 200,808 63,457 60,340 351,685 72,225 4S,450 82,513 58,411 136,155 Deferred availability items 502,628 54,874 136,937 42,104 47,698 36,773 15,354 61,207 24,61b 8,612 27,006 20,543 26,899 Capital paid in 169,265 11,879 65,674 16,773 15,857 5,756 5,270 20,062 4,876 3,056 4,253 4,343 ll,46l Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 3,702 8,936 13,475 All other liabilities 13,013 1JSL 2,84l 209 1,018 7o2 1,990 2,079 1,333 858 432 669 643 TOTAL LIABILITIES 4,848,848 359,353 1,570,759 367,486 474,447 201,451 224,268 621,971 192,532 116,449 1 2K 53 119,761 4ii,ii3 Reserve ratio (per cent) 84.0 83-5 87.8 84.5 84.1 78.6 84.0 84.4 80.2 71.4 65.0 87.2 Contingent liability on "bills purchased for foreign correspondents 448,637 33,558 l4s,403 44,297 45,192 17,893 16,108 60,^5 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 1,858,540 152,227 385,769 169,578 213,776 96,939 154,873 200,561 87,355 52,992 79,035 31,537 233,898 Held "by Federal reserve "bank 408,734 23,792 124,197 32,892 33,681 14,350 24,4l6 53,559 8,435 4,673 12,683 4,683 66,413 In actual circulation 1,449,756 123,435 261,572 136,686 180,095 82,589 130,457 147,002 78,920 48,319 66,347 26,854 167,480 Collate! al held "by agent as security for notes issued to "bank: Gold and gold certificates 619,559 35,300 351,919 38,700 12,550 10,080 7,900 68,000 13,985 11,825 - 9,300 60,000 1,094,230 109,617 15,000 121.300 175,000 74,000 122,000 123,000 63,800 36,200 67,000 16,550 170,763 Gold fund - F. R. Board Eligible paper 252,991 16,013 57,344 20,816 26,232 17,982 26,011 29,230 10,833 5,432 14,883 6,944 21,161 Total collateral 1,966,780 160,930 424,263 180,316 213,842 102,062 155,911 223,280 88,618 53,457 81,883 32,794 251,924 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 6 months Over 6 months Bills discounted 199,823 123,265 18,283 28,841 17,575 8,820 3,034 Bills bought in open market 93,995 24,352 25,642 33,436 10,215 350 Certificates and bills 324,488 22,000 122,567 179,921 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis