H.4.1 Factors Affecting Reserve Balances of Depository Institutions

« STATEMENT FOR THE PRESS Released for publication B-2o8 Friday morning, Mar. 27; Federal Reserve Board not earlier. March 2o, 1931- CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending March 25» as reported "by the Federal reserve hanks, was $880,000,000, a decrease of $60,000,000 compared with the preceding week and of • $174,000,000 compared- with the corresponding week in 1930. On March 25 total reserve bank credit amounted to $858,000,000, a decline of $49,000,000 for the week. This decline corresponds with decreases of $79,000,000 in member bank reserve balances, $15,000,000 in money in circulation, and $3,000,000 in unexpended capital funds, etc., and an increase of *4,000,000 in monetary gold stock, offset in part by a decrease of $51,000,000 in Treasury currency, adjusted. Holdings of discounted bills increased $3,000,000 during the week, the principal changes being increases of $11,000,000 at the Federal Reserve Bank of San Francisco and $2,000,000 at Boston, and decreases of $3,000,000 at New York and $2,000,000 each at Philadelphia and Minneapolis. The System's holdings of bills bought in open market declined $40,000,000 and of United States securities $19,000,000, largely as a result of the Treasury's quarterly fiscal operations. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 25, 1931, were as follows: Increase or decrease since Mar. 25 Mar. IS Mar. 26 1931 1931 1930 (In millions of dollars) Bills discounted 165 + 3 - 42 S3 4o - 173 Bills bought — United States securities 599 19 + 70 Other reserve bank credit 10 4- 5 - 22 TOTAL RESERVE BANK CREDIT 858 4k9 - 167 4,689 + 269 Monetary gold stock 4- Treasury currency adjusted 1,765 - 51 - 25 4,547 15 + 80 Money in circulation Member bank reserve balances 2,357 - 79 + 17 Unexpended capital funds,nonmember deposits,etc. 407 - 3 - 21 c. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Mar. 27,1931*. not earlier. B-288a RESOURCES A3D LIABILITIES OF TH3 TWELVE FEDERAL RESERVE BA2JICS COHBHED (In thousands of dollars) Mar. 25.1931 Mar. 18.1931 Mar. 26,1930, R E S O U R C ES Gold with Federal reserve agents 1,729,624 1,710,384 1>717,259 Gold redemption fund --/ith U.S.Treasury . . 32,672 33,005 5,1.6o0 Gold held exclusively against F.R.notes 1,762,296 1,743,389 1,7^9,724 Gold settlement fund with F. R. Board .. 504,271 519,^3 587,321 Gold and gold certificates held by hanks . 859,301 853,022 o95,95(. Total RQld reserves 3,126,368 3,115,874 3,051,002 Reserves other than gold 183,894 1JS,2o5 —191,079 Total reserves 3,310,262 3,294,139 3,242,081 Hon-reserve cash 74,333 74,791 72,3oo Bills discounted: r \, r n Sec. by U.S. Government obligations . . ol ,950 52,892 bb,^l Other Mils discounted 103,^75 la0-^3. Total bills discounted 165,425 lol,9 22 206,o2j Bills bought in open market 83,272 122,^50 25o,4o2 U ,B ^V e r n a , e nt S°CUr?Me!: 66,633 66,959 4I,SO3 SunLrLiMn;::::::::: ii 111 J&l Total U. S. Government securities . . 598,558 617,746 5 28 , 999 Other securities 1 Total bills and securities . . .. 847,255 902,218 1,001,090 >ae from foreign banks ,710 , : : : : : :: a 5 5 3% : : : : : : : : : :: & TOTAL RESOURCES 4,726,854 4,924,814 4,968,435 L I A B I L I T I ES F. R. notes in actual circulation . . .. 1,441,715 1,441,823 1,572,900 D°SeSer'bank - reserve account 2,357,011 2,436,383 2' ^ h^ Government . . . 51 >4o4 r'n^h ox Total deposits 2,432,767 2,465,256 2,388,467 # fg Deferred availability items 454,585 55S''9^1 537,07 All other liabilities 14,257 IS,7;2 TOTAL LIABILITIES 4,786,854 4,924,814 4,968,435 Ratio of total reserves to deposit and . F. R. note liabilities combined . . .. 85.4$ o4.3/o 31. b/o Contingent liability on bills purchased for foreign correspondents 437 * 233 <53,072 9 » Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BANKS OH MARCH 25, 1931 R E S O U R C ES (In thousands of dollars) B-288b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 3old with Federal reserve agents 1,729,624 149,917 360,919 l60,000 192,550 84,080 138,900 215,000 72,380 47,^15 65,000 26,600 210,763 Gold redemption fund with U.S.Treasury 32,672 1,223 13,300 1,147 2,567 812 1,042 3.995 1,535 47b 1.354 770 4.451 Gold held exclusively against F. R. notes 1,7 6 2,296 151,140 380,219 161,147 195,H7 84,892 139,942 218,995 73,915 47,991 6b,354 27,370 215,214 Gold settlement fund with F. R. Board 504,271 30,2^1 131,425 56,981 50,738 20,378 12,355 106,291 22,496 14,635 17,410 15,182 26,079 Gold and gold cert if. held "by "banks 859,801 35,663 562,088 30,824 65.702 5,4I6 7.784 78.199 11.314 5.623 12.805 4.861 39.522 Total gold reserves 3,126,368 ZL7,054 ] 1,073,732 248,952 311,557 110,686 160,081 403,485 107,725 68,299 96,569 47,413 280,815 Reserves other than gold 183,894 17,730 56,838 10,312 15,469 10,867 7,120 2l,74l 11,490 4,145 8,375 9,169 10,638 Total reserves 3,310,262 234,784 ] u,130,570 259,264 327,026 121,553 167,201 425,226 119,215 72,444 104,944 56,582 291,453 ^Ton-reserve cash 74,333 9,449 18,592 3,946 4,635 4,772 4,823 9,417 5,410 l,74l 2:056 3,736 5,756 Bills discounted: Secured by U.S.Govt, obligations 61,950 4,685 15,214 5,523 7,805 963 243 3,884 2,792 364 911 157 19,409 Other "bills discounted 103,475 5,880 19,467 11,850 6,043 12,516 11,350 8,981 5,154 3.005 8.197 b,704 4,328 Total bills discounted 165,425 10,565 34,681 17,373 13,848 13,479 n,593 12,865 7,946 3,369 9,108 6,861 23,737 Bills bought in open market 83 , 272 6,925 15,240 105 10,256 473 5,080 14,059 5,308 3,126 4,379 2,427 15,894 U. S. Government securities: Bonds 66,633 1,202 22,523 989 682 1,325 250 20,590 666 7,4l6 479 10,192 319 Treasury notes 63,227 2,745 13,263 5,625 12,853 923 4,152 3,645 4,393 1,099 2,032 1,149 11,348 Certificates and bills 468,698 42,235 146,927 42,738 44,320 14,735 8.403 56.893 is.s4o 17.031 31.368 17.883 . 27,325 Total U.S. Govt, securities 598,55s 46,182 182,713 49,352 57,855 16,983 12,805 81,128 23,399 25,546 33,879 29,224 33,992 Total bills and securities 847,255 63,672 232,634 66,330 81,959 30,935 29,47s 108,052 37,153 32,o4i 47,366 38,512 78,623 Due from foreign banks 710 53 240 69 71 28 25 94 25 16 20 21 48 F. R. notes of other banks 14,959 243 4,283 176 1,090 l,l4i 1,068 2,410 1,386 462 976 259 1,465 Uncollected items 464,466 50,392 127,24s 4l,519 44,645 34,032 14,120 56,701 19,891 7,690 25,877 15,805 26,546 Bank premises 52,323 3,458 15,240 2,6I4 7,124 3,438 2,573 8,061 3,635 1,926 3,803 1,830 4,6a All other resources 16,546 279 4,548 311 1,455 1,052 3,63s 1,213 1.413 726 382 932 597 TOTAL RESOURCES 4,786,854 362,330 1,533,355 374,729 468,005 196,951 222,926 611,174 188,128 117,046 185,424 117,677 409,109 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS 01T MARCH 25, 1931 l i a b i l i t i es (In thousands of dollars) B-2S8c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,441,715 132,434 246,320 136,542 177,885 79,^53 129,269 165,303 76,287 48,069 b5,193 26,68 2 1 57,648 Deposits: Member bank - reserve account 2,357,011 138,605 988,857 149,435 195,603 60,599 57,848 322,258 71,746 49,237 80,993 57,270 134,560 Government deposits 5i,4o4 6,64o 17,559 5,587 2,237 2,776 2,813 4,926 1,036 1,062 867 2,9b6 2,935 Foreign "bank 5,086 389 1,601 514 525 208 187 701 182 119 151 156 353 Other deposits 19,266 209 8,475 423 2,106 88 382 631_ 528 184 381 85. 5,708 Total deposits 2,432,767 145,843 1,016,492 155,959 200,471 63,671 61,230 328,582 73,492 50,602 82,392 60,477 193,556 Deferred availability items 454,58 50,677 120,644 38,085 43,812 35,147 13,691 55,213 21,639 7,383 24,461 16,597 27,236 Capital paid in 168,39 11,832 65,623 16,780 15,760 5,741 5,270 19,959 4,839 3,056 4,24s 4,322 11,464 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 18,4 m 75 All other liabilities 14,257 245 3.701 298 1,106 795 2.009 2.181 1,309 792 428 661 TOTAL LIABILITIES 4,786,854 362,330 1,533,355 374,729 468,005 196,951 222,926 611,174 1SS.12S 117,046 185,424 117,677 409,109 Reserve ratio (per cent) 85.4 84.4 89.5 88.6 86.4 84.9 87.5 86.1 79-6 73.4 71.1 64.9 83.0 Contingent liability on bills purchased for foreign correspondents 437 ,233 32,762 144,122 43,246 44,119 17,473 15,726 58,972 15,289 10,047 12,66s 13,105 29,704 FEDERAL RESERVE NOTE STATBliENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,874,635 159,279 393,101 166,661 212,332 89,454 153,464 222,369 84,333 52,948 74,320 33,541 232,778 Held by Federal reserve bank 432,933 26,845 146,781 30,119 34,497 9,971 23,595 57.066 8.051 4.879 9.127 6.859 75.130 In actual circulation 1,441,715 132,434 246,320 136,542 177,885 79,433129,869165,303 76,287 43,069 65,193 26,682 157,648 Collateral held by agent as security for notes issued to bank Gold and gold certificates 618,144 35,300 351,919 38,700 12,550 10,080 9,400 82,000 i4,oso 6,815 7,300 50,000 Gold fund - F. R. Board 1,111,430 114,617 15,000 121,300 180,000 74,000 129,500 133,000 58,300 40,700 65,000 19,300 160,763 Eligible paper 239,742 1 7,474 47,446 16,89 2 23.209 13.713 15.583 26.720 1 2.326 6.035 1 2.827 8.280 19.237 Total collateral 1,969,366 167,391 414,365 176,392 215,759 97,793 154,483 241,720 84,706 53,550 77,827 34,880 250,000 MATURITY DISTRIBUTION OF BILLS AND SHORT T2RM 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 165,425 102,694 14,152 22,426 14,236 7,817 4,100 Bills bought in open market 83,272 54,399 17,335 9,6)06b6 1,245 127 Certificates and bills 46s,69s 36,000 113,718 158,729 160,251 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis