H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-25o Friday morning, Feb. 27; Federal Reserve Board not earlier. February 26, 1931• CONDITION OF FEDERAL RESERVE BANES The daily average volume of Federal reserve bank credit outstanding during the week ending February 25» as reported by the Federal reserve banks, was $913,000,000, a decrease of $27,000,000 compared with the preceding week and of $242,000,000 compared with the corresponding week in 1930. On February 25 total reserve bank credit outstanding amounted to $904,000,000 as compared with $905,000,000 a week ago, increases of $6,000,000 in Treasury currency and $2,000,000 in monetary gold stock and a decrease of $2,000,000 in member bank reserve balances being nearly offset by an increase of $9,000,000 in the amount of money in circulation. During the week holdings of discounted bills declined $6,000,000 at the Federal Reserve Bank of Atlanta, $2,000,000 each at Cleveland and San Francisco and $10,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $12,000,000 and of Treasury certificates and bills $17000,000, while holdings of U. S. bonds declined $3,000,000 and of f Treasury notes $13,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 25, 1931, were as follows: Increase or decrease since 26 Feb. 25 Feb. 18 Feb. 1931 1931 1930 (In millions of dollars) 10 Bills discounted 190 - - 152 106 12 Bills bought + 193 - 1 United States securities 599 - + 116 Other reserve bank credit S 3 23 ** - TOTAL RESERVE BANK CREDIT 904 — l — 252 2 Monetary gold stock 4,663 + + 316 16 Treasury currency adjusted 1,784 + 6 + Honey in circulation 4,569 + 9 + 62 Member bank reserve balances 2,37S 2 + 32 - Unexpended capital funds ,nonmember deposits,etc. 403 1 16 - - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Feb. 27,1931*. not earlier. B-2poa RESOURCES AiTD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAJXS COMBIITED (In thousands of dollars) Feb. 2=5.1931 Feb. 18,1931 Feb, 26,19)0, R E S O U R C ES Gold with Federal reserve agents . . .. 1,724,089 1,713,789 I,o29 , 630 Gold redemption fund with U.S. Treasury 34,467 34,407 55• 409 Gold held exclusively against F.R.notes 1,758,556 1,748, 256 1,009,039 Gold settlement fund with F. R. Board . 472,0o0 480,4-97 o34,655 Gold and gold certificates held by banks 850,706 853,°Jj £.?.?>°-?Z Total gold reserves 3,081,322 3 >084,408 2,989,^31 Reserves other than gold 179,194 181,995 Total reserves 3,2b0,5l6 3,2bo,403 3,186,989 Non-reserve cash 76,037 82,298 70,001 Bills discounted: ' „ ,- 2 n ui n 7 Sec. by U.S. Government obligations . !o0 , o o ,£63r / 184,lo3 Other bills discounted 129 ,-349* ^ 7 V 133 ,722- -s> 4 I98,618 Total bills discounted 189,847 199,823 342,781 Bills bought in open market 106,317 93,995 299,30b S. Government securities: 'Bonds 75,731 78,971 79,167 Treasury notes 183,074 19o, 215 221,030 Certificates and bills 340,698 324,h-oo lo2,55° Total U.S. Government securities . 599,443 599,674 482,755 Other securities _ - ~ 13,680 Total bills and securities . . 895,607 893,492 1,138,522 Due from foreign banks 699 °99 721 F. R. notes of other banks 15,750 15,332 25,808 Uncollected items 522,264 513,097 ^52,330 Bank premises 58,192 5",191 ^,-+19 All other resources 19,085 - 19,336 1^897 TOTAL RESOURCES 4,845,150 4,848,848 5,147,303 L I A 3 IL II I ES F. R. notes in actual circulation . . . 1,448,4lb 1,449,756 1,637,094 Deposits: . r Member bank - reserve account . . .. 2,378,411 2,379,73b 2,345,858 Government 25,847 35,248 36,8^ Foreign bank 5,200 5,261 6,389 Other deposits 18,111 19,305 18,893 Total deposits 2,427,569 2,439,550 2,407,980 Deferred availability items 515,070 502,622? 635,^83 Capital paid in 169,135 Io9,2o5 111,813 Surplus 274,636 274,b36 27b,936 All other liabilities 13,324 13,013 17»797 TOTAL LIABILITIES 4,848,150 4,848,848 5,1^7,303 Ratio of total reserves to deposit and ^ F. R. note liabilities combined . . 84.1$ 84.0jo 78.8/0 Contingent liability on bills purchased ^ •_ for foreign correspondents 453,8l4 448,o37 513,34o Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS OH FEBRUARY 25, 1931 R E S O U R C ES (In thousands of dollars) B-256b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,724,089 144,917 366,919 160,000 192,550 84,080 135,900 191,000 76,585 48,025 67,000 26,350 230,763 Gold redemption fund with U.S.Treasury 34,467 1,310 13,o60 1,27 7 2,6g4 l,l4o 1,631 4,037 1,555 484 1,4l^ 781 4,483— Gold held exclusively against . , r 161,277 195,037 78,1k) 68,415 F. R. notes 1,758,556 146,227 380,579 195.244 85,220 137,531 48,509 27,131 235,246 Gold settlement fund with F. R. Board 472,060 25,177 154,297 4o,066 48,595 13,438 12,743 92,169 13,9%% 8,067 15,615 13,879 34,100 Gold and gold certif. held by "banks 850.706 35,7 77 534,204 30,384 68,510 5,628 7,377 100,686 12,22) 7,329—13,725 4,914—29,949— Total gold reserves 3,081,322 207,181 1,069,080 231,727 312,349 104,286 157,651 387,892 104,277 63,905 97,755 45,924 299,295 Reserves other than gold 179,194 15,500 50,280 10,888 13,125 11,238 9,089 23,117 1 2,285 5• 231 8,486 9>380—10,575— Total reserves 3,26o,5i6 222,681 i,H9,36o 242,615 325,474 115,524 i66j4o 4n,009 116,562 69,136 106,24l 55,304 309,870 xlon-reserve cash 76,037 8,83 2 17,417 4,558 4,17 2 5,214 5,795 10,231 5,635 1,867 2,118 3,890 6,308 Bills discounted: ^ - Secured by U.S.Govt, obligations 6o,50T 3,539 14,93 2 8,837 9,035 1,547 560 6,87 2 3,542 786 162 10,283 Other bills discounted 129.34Q 6,884 23,084 l4,960 11,765 15,703 15,818 10,853 5,026 31505.—10,383 °jJ?_22 4,137 Total bills discounted 189,847 10,423 38,03186,016 23 2 , 3 7 , 9 7 7 97 202,08,08000 1177,2,25500 1 61,367,3878 1177,7,72255 9,196,1868 3,917\ 11,169 6,784 14,420 Bills bought in open market 106,317 7,732 43,44939,499 2,6 2 1 ,6 3 13 8,885,5855 1,917,9474 6,0 6 2 , 8 028 11 1 , 1 9 , 7 9 7 77 4,6 4 8 ,6 5 85 2,812j 4,79s 2,603 8,741 U. S. Government securities: .__ Bonds / 75,731 1,820 30,13709,179 1,315,3353 1,116,1161 1,5 1 3 , 1 531 2 34 234 2 22,21,91191 692 659,121 1 679 10,380 400 13,626 43,507 4,946,5965 4,091 18,812 12,63 87,5 90 easury notes 183,074 43,507 181,85,15414 242,243,2030 4,091 18,812 12,637 10,035 5,74o 18,327 rtificates and bills 340.638 31.108 1101.21402,242 303.609,6797 32 3 .9 2 6 .9 8 68 1 0 1 .7 0 6 .7 5 65 3 ,39 3 1 ,391 4 o4,o8,48l4i 10 1 ,8 0 2 ,8 2 22 1 2,427 23,314 13,317 20,746. Total U.S. Govt, securities 599,443 46,554 183 1 , 8 9 3 2 , 8 928 505,05,65644 585,83,53959 171,72,6216 17 ,7176,716 818,18,48444 242,145,1151 26,128 34,028 29,437 39,473 Total bills and securities 895,607 64,709 265,443 76,974 88,014 36,485 30,122 111,54b 38,004 32,857 49,995 38,824 62,634 16 20 21 Dae from foreign banks 699 53 227 69 71 28 26 95 25 48 1,503 F. R. notes of other banks 15,750 242 3,473 153 949 1,455 1,052 3,403 1,466 680 1,043 331 Uncollected items 522,264 55,517 136,557 48,033 51,948 37,950 17,776 68,660 23,902 8,848 27,960 19,443 25,670 Bank premises 58,192 3,458 15,240 2,6i4 7,066 3,365 2,573 8,061 3,635 1,926 3,803 1,830 4,621 All other resources 19.085 182 7,098 302 1,217 1.178 3,937 1.228 1.846 544„_ 235 844 474 TOTAL RESOURCES 4,848,150 355,674 1,564,815 375,318 478,911 201,199 228,021 614,233 191,075 115,874 191,415 120,487 411,128 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL "RESERVE BASES 01 FEBRUARY 25, 1931 (In thousands of dollars) B-25bc l i a b i l i t i es Total Boston Hew York Phila. Cleve. Rich.' Atlanta Chicago St.Louis Minn. Ivans.Cy. Dallas San Fran. 26,443 165,603 F.R.notes in actual circulation 1,448,416 125,341 256,946 139,965 181,795 81,696 129,052 l49,608 78,014 47,661 bb,292 De M p e o m s b it e s r : " bank - reserve account 2,378,411 139,859 1,014,672 l41,752 194,113 60,571 61,929 330,691 68,663 46,44g 82,813 57 ,828 17 2 9 , , 1 0 6 7 9 1 1,623 4,708 2,000 1,754 1,732 1,422 1,316 2,201 Government deposits 2 5 ^, ,2 8 0 47 0 431 1,340 1 5 , 7 7 0 99 2,4 7 5 4 81 230 207 2 7 , 7 b 7 49 201 132 167 173 391 Foreign bank 18,111 29 8 , 775 254 1,636 44 434 o3 3 288 139 275 24 5,580 Other deposits 60,226 Total deposits 2,427,569 l41,942 1,029,495 144,375 198,804 62,845 64,324 334,750 70,884 48,142 84,571 187,211 19,772 515,070 55,057 129,098 46,911 52,511 38,022 16,544 67,809 25,412 9,050 27,174 27,710 Deferred availability items 4,329 169,135 11,868 65,674 16,773 15,795 5,752 5,260 20,040 4,871 3,053 4,255 11,465 Capital paid in 8,936 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 18,475 All other liabilities 13,324 167 3,027 229 1,035 770 1,984 2,090 1,332 824 421 781 664 4,848,150 355,674 1,564,815 375,318 478,911 201,199 228,021 6l4,233 191,075 115,874 191,415 120,487 411,128 TOTAL LIABILITIES Reserve ratio (per cent) 84.1 83.3 87.0 85.3 85.5 79.9 86.2 84.9 78.3 72.2 70.4 63.8 87.8 Contingent liability on bills pur- 453,814 33,893 150,582 44,739 45,643 18,077 16,269 61,008 15,817 10,394 13,105 13,557 30,730 chased for foreign correspondents F3DHRAL RESERVE NOTE, STATEMENT Federal reserve, notes: Issued to F.R.bank by F.R.Agent 1,856,233 153,858 383,470 167,231 211,919 95,888 154,821 200,563 87,294 52,763 7 8,39 2 3 2,355 237,679 Held by Federal reserve bank 407,817 28,517 126,524 27,266 30,124 14,192 25,769 50,955 9,280 5,102 12,100 5,912 72,076 1,448,4l6 125,341 256,946 139,965 181,795 81,696 129,052 149,608 78,014 47,661 66,292 26,443 165,603 In actual circulation Collateral held by agent as security for notes issued to bank: 617,359 35,300 351,919 38,700 12,550 10,080 8,900 68,000 10,825 - 7,300 60,000 13,785 Gold and gold certificates 1,106,730 109,617 15,000 121,300 180,000 74,000 127,000 123,000 62,800 37,200 67,000 19,050170,763 Gold fund - F . R. Board 250,470 16,175 60,934 21,072 26,061 17.978 20,604 as,083 12,043 5,580 14,790 8,034 21,116 Eligible paper 1,974,559 161,092 427,853 181,072 218,611 102,058 156,504 217,083 88,628 53,605 81,790 34,384 251,879 Total collateral MATURITY DISTRIBUTION OF BILLS AJfD SHORT TERM SECURITIES 91 days to Over 6 months Total Within 15 days 16 to 30 days 31 to 60 days bl to 90 days 5 months 16,946 27,188 16,388 8,430 3,157 Bills discounted 189,847 117,738 36,653 23,608 • 5,844 716 Bills bought in open market 106,317 39,496 29,000 123,967 187,671 Certificates and bills 340,638 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis