H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication _ B-297 Friday morning, Apr. 3; Federal Reserve Board not earlier. April 2, 1931- CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending April 1, as reported by the Federal reserve "banks, was $919,000,000, an increase of $39,000,000 compared with the preceding week and a decrease of $178,000,000 compared with the corresponding week in 1930. On April 1 total reserve bank credit amounted to $943,000,000, an increase of $85,000,000 for the week. This increase corresponds with increases of $74,000,000 in money in circulation and $35,000,000 in member bank reserve balances, offset in part by increases of a9,000,000 in monetary gold stock and $13,000,000 in Treasury currency, adjusted. Holdings of discounted bills declined $9,000,000 at the Federal Reserve Bank of San Francisco and increased $2,000,000 each at New fork, Richmond and Atlanta, all Federal reserve banks combined showing a small decrease for the week. The System's holdings of bills bought in open market increased $84,000,000 while holdings of United States securities were practically unchanged. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending April 1, 1931• were as follows: Increase or decrease since Apr. 1 Mar. 25 Apr. 2 1931,. 1931 1930 (In millions of dollars) Bills discounted 164 - l - 77 167 + 84 - 134 Bills bought United States securities 598 - 1 + 68 Other reserve bank credit 15 + 4 - 36 TOTAL RESERVE BANK CREDIT 943 + 85 - 181 Monetary gold stock 4,698 % 9 + 275 Treasury currency adjusted 1.77S + 13 + 4 Money in circulation 4,621 + 74 + io4 Member bank reserve balances 2,392 + 35 + 17 Unexpended capital funds,nonmember deposits,etc. 407 - - a C Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Apr. 3,1931; not earlier* B-297& RESOURCES AilD LIABILITIES OP THE T.HELVE FEDERAL RESERVE BAITKS COMBHED (in thousands of dollars) Apr. 1,1931 liar. 25.1931 Apr. 2.1930 R E S O U R C ES Gold with Federal reserve agents . « . . 1,725,124 1,729,624 1,693,284 Gold redemption fund with U.S.Treasury . 32,648 32,672 51,851 Gold held exclusively against P.R.notes 1,757,772 1,762,296 1,745,135 Gold settlement fund with F.R. Board . . 508,978 504,271 588,864 Gold and gold certificates held by hanks • 848,452 859,801 687,710 Total ^old reserves 3,115,202 3,126,368 3,021,709 Reserves other than gold 180,008 183,894 187,167 Total reserves 3 , 295 , 210 3,310,262 3.208,876 73,954 74,333 67,422 Bills discounted: Sec. "by U.S. Government obligations , . 5577,,774477 61,950 111133,,665522 Other bills discounted 105,883 103,475 127,471 Total bills discounted 163,630 165,425 241,123 Bills bought in open market . . . . .. 166,622 83,272 301,297 U. S. Government securitiesi 66,600 66,633 54,105 63,226 63,227 194,519 Certificates and bills . . . . . .. 468,537 468.698 281,765 Total U.S.Government securities . 592,363 598,558 530,389 8,780 - - Total bills and securities ; . 928,615 847,255 1,081,589 Dae from foreign banks . . .. . > . . 707 710 722 13,608 14,959 17,971 501,567 464,466 628,023 58,338 58,323 58,507 17,617 16,546 12,195 TOTAL RESOURCES . , . .. 4,889,616 4,786,854 5,075,305 L I A 3 I L I T I ES F. R. notes in actual circulation . . . 1,497,811 1,441,715 1.576,097 Deposits: Member bank - reserve account . . , . 2,391,814 2,357,011 22,,337755,,334488 Government . 29,l4o 51,4o4 38,922 Foreign bank . 5,l5l 5,086 6 ,610 Other deposits 20,113 19,266 22,167 Total deposits . . . . .. 2,446,218 2,432,76 7 2,443,047 Deferred availability items 487,611 454,585 586,667 Capital -paid in 168,825 168,894 174,246 274,636 274,636 276,936 All other liabilities 14,515 14,257 18,312 TOTAL LIABILITIES 4,889,616 4,786,854 5,075,305 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 83.5$ 85.4f 79«8f 0 0 Contingent liability on bills purchased for foreign correspondents 430,784 >37,233 447755,,552244 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A2TD LIABILITIES OF THE FEDERAL RESERVE BASKS OU APRIL I, 1931 R E S O U R C ES (In thousands of dollars) B-297b Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Federal reserve agents 1,725,124 149,917 351,919 l60,000 192,550 84,080 135,900 225,000 72,880 46,515 65,000 25,600 215,763 Gold with Gold redemption fund with U.S.Treasury 32.648 1,223 13,300 1.147 2,568 812 1,042 3,995 1 .^ 410 1,3^4 JoJ M44_ J°F? R?1notes1US1Vel/ 1,757,772 151,i4o 365,219 161,147 195,118 84,892 136,942 228,995 ?4,4o6 46,985 66,354 26,367 220 , 207 Gold settlement fund with F. R. Board 508,978 25,677 132,657 64,664 44,364 19,506 16,619 110,375 21,450 lo,o84 17,71o 13,lo2 26,104 Gold and gold certif. held "by banks 848*. 452 33.004 56q,158 28.359 65,442 4.935 8.091 70,913 11,376 5,174 12,217 4,884 34,899 Total gold reserves 3,115,202 209,821 1,067,034 254,170 304,924 109,333 161,652 4io,283 107,232 68,843 96,287 44,413 281,210 Reserves other than gold 180,008 16,540 58,231 9,100 15,983 11,083 6,289 20,228 10,815 4,027 8,006 9,022 10,6s4 Total reserves 295,210 226,361 1,125,265 263,270 320,907 120,416 167,941 430,511 118,047 72,870 104,293 53,435 291,894 1,569 i,94o 3,270 6,4o4 Non-reserve cash 73,954 8,052 33,883 3,776 5,392 4,207 4,o4o 9,548 4,873 Bills discounted: Secured "by U.S.Govt, obligations 57,747 5,766 17,153 5,804 7,811 2,205 356 4,052 2,675 4i4 1,544 154 9,813 Other bills discounted 105,883 5,810 19,034 12,238 6,846 12,849 13,069 8,272 5,224 3,109 8,113 6,837 4,482 Total bills discounted 163,630 11,576 36,187 18,042 14,657 15,054 13,425 12,324 7,899 3,523 9,657 6,991 14,295 Bills bought in open market 166,622 12,829 76,535 105 15,548 244 6,283 17,421 6,438 4,020 6,389 4,o49 16,761 U. S. Government securities: Bonds 66,600 1,202 22,523 989 6S2 1,325 212 20,590 666 7,521 379 10,192 319 Treasury notes 63,226 2,745 13,263 5,625 12,853 923 4,151 3,645 4,393 1,099 2,032 1,149 11,348 Certificates and bills 468,537 42,235 146,927 42,738 44,320 14,735 8,318 56,893 18,840 16,954 31,369 17,883 27,325 Total U.S.Govt, securities 59S,363 46,182 182,713 49,352 57,855 16,983 12,681 81,128 23,899 25,574 33,780 29,224 38,992 Total bills and securities 928,615 70,587 295,435 67,499 88,060 32,389 110,873 38,236 33,117 49,826 43,264 70,04s Due from foreign banks 707 53 232 70 72 28 26 95 25 16 21 21 48 F. R. notes of other banks 13,608 257 4,039 242 1,017 1,065 984 2,36s 690 559 923 242 1,222 Uncollected items 501,567 64,380 151,429 45,066 44,582 54,294 13,015 56,583 19,670 8,523 22,450 15,978 25,597 Bank premises 58,338 3,45s 15,240 2,6i4 7,139 3,438 2,573 8,061 3,635 1,926 3,803 1,830 4,6a All other resources 17,617 338 4,826 391 1,577 1,091 3,646 1,539 1,428 718 429 944 690 4,889,616 373,486 1,617,349 38 2,928 1468,746 196,820 224,614 619,578 I8o,6o4 119,29s 183,685 115,984 400,524 TOTAL RESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAHCS 0:7' APRIL 1, 1931 L I A B . IL IT I S S (In thousands of dollars) B-297C •Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,497,311 134,524 278,261 140,478 178,241 79,637 131,123 177,570 77,018 48,489 65,653 27,047159,770 Deposits: Member bank - reserve account 2,391,814 138,727 1,023,881 152,436 196,666 60,565 61,084 3a,502 69,920 49,943 82,553 57,-08 176,929 Government deposits 29,140 2,283 9,617 2,157 1,706 4,576 1,692 1,988 1,217 1,475 830 960 639 Foreign tank 5,151 386 1,699 509 520 206 185 695 ISO 118 149 154 350 Other deposits 20,113 59 10.124 84 1,739 106 179 669 389 147 376 94 6,147 Total deposits 2,446,218 l41,455 1,045,321 155,186 200,631 65,453 63,l4o 324,854 71,706 51,683 83,908 58,si6 184,065 Deferred availability items 487,611 64,129 143,805 43,103 43,994 33,076 12,234 55,047 21,166 2,111 20,731 16,202 26,013 Capital paid in 168,825 11,832 65,624 16,780 15,757 5,736 5,241 19,942 4,837 4,24s 4,311 11,462 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 8,702 8,935 13,475 All other liabilities i4,q15 247 3,763 3lb 1,152 804 2,019 2,229 1,315 816 443 672 739 TOTAL LIABILITIES 4,889,616 373,486 1,617,349 382,928 468,746 196,820 224,614 619,57s is5,6o4 119,298 183,685 115,934 4oo,524 Reserve ratio (per cent) 83-5 82.0 85.0 89.0 54.7 83.0 86.5 ?• 7 79.4 12.1 69.7 62.2 84.9 Contingent liability on bills purchased for foreign correspondents 430,784 32,308 l41,732 42,647 43,508 17,231 15,508 58,155 15,077 9,910 12,492 12,923 29,293 FEDERAL RESERVE TOTE SIAI'^Zii'T Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,895,399 159,756 402,253 166,815 207,973 5S_,9)°l' 153,619 239,958 8 4,311 52,938 72,973 33,383 232,424 Held by Federal reserve bank 397,538 25,.2 —32 . ... 91,2335,4992 26,337 29,732 22,496 62,388 7,293 4,449 7,325 6,336 72,654 In actual circulation 1,497,811 134,524 278,261 14o,478 178,241 79,637 131 ,123 177,570 77,018 48,439 "65,653 27,047 159,770 Collateral held by agent as security for notes issued to bank Gold and gold certificates 623,144 35,300 351,919 38,700 12,550 10,080 9,400 82,000 l4,0S0 6,815 - 7,300 55,000 Gold fund - F. R. Board 1,101,930 114,617 121,300 180,000 74,000 126,500 143,000 58,800 39,700 65,000 18,300 160,763 Eligible paper 301,556 24,382 4,603 16,357 25,355 14,975 19,107 29,545 13,416 7,273 15,44s 10,419 30,676 Total collateral 2,026,580 174,299 446,522 176,357 217,905 99,055 155,007 254,545 86,296 53,788 80,448 36,019 246,439 MATURITY DISTRIBUTION OF BILLS AND SHORT TERI.1 SECURITIES 91 days to Total Within 15 days lb to 30 days 31 to 60 days ol to 90 days Over 6 months o months Bills discounted 163,630 100,-S5f-3W3 14,452 21,857 14,744 9,297 2,4g) 931 Bills bought in open market 166,622 120,934 31,328 10,779 2,891 190 Certificates and bills 468,537 36,000 120,216 158,697 153,624 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis