H.4.1 Factors Affecting Reserve Balances of Depository Institutions

gTATEMEM1 FOR THE PRESS Released, for publication B-301 Friday morning, Apr. 10; Federal Reserve Board not earlier. April 9, 1931. CONDITIO!! OF FEDERAL RESERVE BMKS The daily average volume of Federal reserve bank credit oustanding during the ',7eek ending April 8, as reported by the Federal reserve banks, was $1,003,000,000, an increase of $84,000,000 compared with the preceding week and a decrease of $95,000,000 compared with the corresponding week in 1930. On April 8 total reserve bank credit amounted to $929,000,000, a decrease of $14,000,000 for the week. This decrease corresponds with decreases of $6,000,000 in money in circulation and $3,000,000 in member bank reserve balances, and an increase of $8,000,000 in monetary gold stock, offset in part by a decrease of $3,000,000 in Treasury currency. Holdings of discounted bills declined $8,000,000 at the Federal Reserve Bank of San Francisco, $4,000,000 at Boston, $3,000,000 at Philadelphia, $2,000,000 at Atlanta and $21,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $5,000,000 and of Treasury certificates and bills $4,000,000, while holdings of Treasury notes declined $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending April 8, 1931, were as follows: Increase or decrease since Apr. 8 Apr. 1 Apr. 9 1931 1931 1930 (In millions of dollars) Bills discounted 143 — 21 - S3 Bills bought 172 + 5 - 95 United States securities 599 + l + 72 Other reserve bank credit 16 + l 11 - TOTAL RESERVE BAM CREDIT 929 . i4 118 Monetary gold stock 4,706"/ + 8 4- 271 Treasury currency adjusted 1,775 - 3 - 6 Money in c irculation 4,61 Vi 6 + 119 Member bank reserve balances 2,389 — 3 + 44 Unexpended capital funds,nonmember deposits,etc. 407 - - 17 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Apr. 10,1931; not earlier. 3-301a RESOURCES AND LIABILITIES OP THE TWELVE FEDERAL R2SERV3 BAiTKS COIvSIHED (In thousands of dollars) Apr. 8.1951 Apr. 1,1951 Apr. 9,1950 R E S O U R C ES Gold with federal reserve agents 1,733,114 1,725,124 1,703,584 Gold redemption fund with U.S.Treasury . . 32,848 32,648 42,245 Gold held exclusively against F.R.notes 1,755,962 1,757,772 1,745,829 Gold settlement fund with F. R. Board . . 540,763 508,978 587,240 Gold and gold certificates held by "banks . 824,296 848,452 704,212 Total gold reserves 3,131,021 3,115,202 3,037,281 Reserves other than gold 177,992 180,008 184,069 Total reserves 3,309,013 3 , 295,210 3,221,350 Hon-reserve cash 78,100 73,954 67,460 Bills discounted: Sec. by U.S. Government obligations . . 45,700 5577,,774477 105,035 96,885 105,883 121,129 Total bills discounted 142,585 163,630 226,164 Bills bought in open market 171,729 166,622 267,002 U. S. Government securities: 66,719 66,600 58,22b 59,225 63,226 134,4o4 Certificates and bills 472,711 468,537 284,666 Total U.S. Government securities . . 598,655 598,363 527,296 8,780 - - Total bills and securities . . . 912,969 928,615 1,029,242 697 707 711 F. R. notes of other banks 14,383 13,608 16,754 Uncollected items . . 475,629 501,567 571,250 58,364 58,338 58,507 17,287 17,617 12,304 TOTAL RESOURCES 4,866,442 4,889,616 4,977,588 L I A B I L I T I ES F. R. notes in actual circulation . . .. 11,,550055,,114433 1,497,811 1,558,305 Deposits: Member bank - reserve account 2,388,700 2,391,814 22,,334444,,554433 Government 29,8 8 4 29,140 25,683 5,243 5,151 6,371 Other deposits 18,680 20,113 18,779 Total deposits 2,442,507 2,446,218 2,395,476 Deferred availability items 460,439 487,611 553,971 168,713 168,825 174,217 274,636 274,636 276,936 15,004 14,515 18,683 TOTAL LIABILITIES 4,866,442 4,889,616 4,977,588 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 83.8$ 8833..55^^ 81.5/6 Contingent liability on bills purchased for foreign correspondents 429,536 430,784 446699,,557711 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAHKS OU APRIL 8, 1931 R E S O U R C ES (In thousands of dollars) B-301 Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,733.114 149,917 351,919 l6o,000 192,550 84,070 138,400 235,000 71,880 45,515 65,000 23,100 215,763 Gold redemption fund with U.S.Treasury 32,848 1,223 13,300 1.1^7 2,568 812 1,042 3,995 QjO ZaZ iUtoiL Gold held exclusively against F. R. notes 1,765,962151,140 365,219 161,147 195,118 84,882 139,442 238,995 73,4o6 46,185 66,354 23,867 220,207 Gold settlement fund with F.R. Board 540,763 39,585 126,372 62,265 40,555 lS,182 16,744 114,488 23,006 16,056 20,940 14,921 4-9,°49 Gold and gold cert if. held by banks 824.296 30.369 545.531 28.547 65.636 5,201 7.570 72,101 11,220 5,8 o? ,11,872 4,9^5 35,395 Total gold reserves 3.131,021 221,094 l,037,122 251.959 301,309 106,265 163,756 425,584 107,632 68,130 99,io.6 43,753 305,251 Reserves other than gold 177,9 9 2 1 5.920 59,008 9,69 2 1 5,906 10 , 549 6,098 20,719 10,269 3,670 L155 8,o90 10,31b, Total reserves 3,309,013 237,014 1,096,130 261,651 317,215 116,Sl4 169,854 446,303 11-7,901 71,800 106,321 52,443 315,567 Non-reserve cash 78,100 7,708 24,001 4,199 4,269 4,247 4,554 10,398 5.172 2,008 2,0l4 3.57^ 5.955 Bills discounted: Secured by U.S.Govt, obligations 45,700 3,316 17,331 5.107 6,784 3.716. 291 3,967 2,354 333 927 159 1.415 Other bills discounted 96,88% 4,oo6 17,424 10,175 6,927 12,076 10,954 7,66s 5,067 3,084 7.676 7,413 4.415 Total "bills discounted 142,585 7,322 34,755 15,282 13,711 15,792 11,245 11.635 7.421 3,417 8,603 7,572 5,830 Bills bought in open market 171.729 11,807 57,544 105 20,555 163 7,034 25,541 9,762 6,680 8,129 5.520 18,889 U. S. Government securities: Bonds 65,719 1,202 22,523 989 682 1,325 243 20,590 666 7,609 379 10,192 319 Treasury notes 59,225 2,293 12,578 5,254 12,379 765 4,051 3,037 4,241 916 1,697 958 11,056 Certificates and bills 472,711 42,687 147,612 43,109 44,794 14.893 8.459 57.501 18,992 17,136 31,704. 18,207 27,617., Total U.S.Govt, securities 598,655 46,182 182,713 49,352 57.855 16,983 12,753' 81,128 23,899 25,661 33,780 29,357 38,992 Total bills and securities 912,969 65,311 275,012 64,739 92,121 32,938 31,032 118,304 41,082 35,758 50,512 42,449 63,711 Due from foreign banks 697 53 223 70 72 28 26 95 25 16 20 21 48 F. R. notes of other banks 14,383 232 3,651 118 843 909 1,026 2,729 1,230 569 1,087 291 1,69s Uncollected items 475,629 53,491 123,456 46,993 43,136 33,044 15,991 61,647 20,108 9.139 25,731 16.609 26,224 Bank premises 58,364 3,458 l5,24o 2,6I4 7.139 3,464 2,573 8,061 3,635 1,926 3,803 1,830 4,o2l All other resources 17,287 344 4,787 395 1,600 1,089 3.494 1,435 1,358 745 408 9 44 688. TOTAL RESOURCES 4,866,442 367,611 1,542,500 380,779 466,395 192,533 228,550 648,972 190,511 121,961 189,896 118,222 413,512 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 8, 1931 L I A B I L I T I ES (In thousands of dollars) B-30l'C Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 505,143 134,806 269,919 137,136 180,00 979,350 131,770 190,151+ 76,834 49,478 66,388 27,576 161,723 Deposits: Member bank - reserve account 388,700 143,919 984,467 154,424 193,304 61,654 6o,874 334,103 72,774 51,469 84,463 57,706 189,543 Government deposits 29,884 1,582 12,010 373 1,523 1,158 i,4i4 3,090 1,997 1,422 1,834 1,742 1,739 Foreign "bank 5,243 386 1,790 509 520 206 I85 695 180 118 149 155 350 Other deposits 18,680 44 8,387 301 . 2,295 io4 106 53i 350. 136 342 55 5.964 Total deposits 2, 442,507 145,9311 ,006,6541 55,6091 97,642 63,122 62,5793 38,482 75,301 53,145 86,788 59,6581 97,596 Deferred availability items 45o, 439 53,465 115,732 43,857 42,834 31,403 16,055 58,217 21,618 8,378 23,315 17,056 28,509 Capital paid in 168,713 11,835 65,540 16,781 15,764 5,736 5,241 19,931 4,838 3,031 4,248 4,306 11,462 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 18,475 All other liabilities 15.004 211 4.080 33L 1,175 808 2.048 2,252 1,358 m. 455 Ji9£l ikL TOTAL LIABILITIES 4, 866,442 367,6111 ,542,500 380,779 466,395 192,533 228,550 648,972 190,5111 21,9611 89,8961 18,222 418,512 Reserve ratio (per cent) 83.8 84.4 85-9 89.4 84.0 82.0 87.4 84.4 77.5 70.0 69.4 60.1 87.8 Contingent liability on "bills purchased for foreign correspondents 429,536 32,309 140,483 42,64? 43,509 17,231 15,508 58,155 15,077 9,908 12,493 12,923 29,293 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank "by F.R.Agent 1,911,513 158,068 400,925 165,436 210,889 88,422 155,746 254,818 85,228 54,204 72,444 33,878 231,455 Held by Federal reserve bank 406,370 23,262 131,006 28,300 30,880 9,072 23,976 64,664 8,394 4,726 6,056 6,302 69,732 In actual circulation 1,505,143 134,806 269,919 137,136 180,00 979,350 131,770 190,154 76,834 49,478 66,388 27,576 1$1,723 Collateral held by agent as security for notes issued to bank Gold and gold certificates 623,134 35,300 351,919 38,700 12,550 10,070 9,400 82,000 14,080 6,815 - 7,300 55,000 Gold fund - F. R. Board 1,109,980 114,617 121,300 180,000 74,000 129,000 153,000 57,800 38,700 65,000 15,500 160,763 Eligible paper 299,262 19,105 83,997 14,164 32,656 15,631 17,690 36,979 16,306 9,784 ,16.129 12,462 24,359 Total collateral . 2,032,376 169,022 435,916 174,164 225,206 99,701 156,090 271,979 88,186 55,299 81,129 35,562 240,122 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 142,585 82,237 13,949 21,035 13,665 8,772 2,927 Bills bought in open market 171,729 95,149 53,580 19,539 3,223 238 Certificates and bills 472,711 6,000 24,500 134,726 158,697 l4s, 788 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis