H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-33S Released for publication Federal Reserve Board Friday morning, May g; not earlier. May 7, 1931. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending May 6, as reported "by the Federal reserve "banks, was $972,000,000, an increase of £'13,000,000 compared with the preceding week and a decrease of $75,000,000 compared with the corresponding week in 1930. On May 6 total reserve bank credit amounted to $967,000,000, an increase of $31,000,000 for the week. This increase corresponds with increases of $42,000,000 in money in circulation, $10,000,000 in member bank reserve balances and $4,000,000 in unexpended capital funds, etc., offset in part by increases of $22,000,000 in monetary gold stock and $4,000,000 in Treasury currency. Holdings of discounted bills increased $4,000,000 at the Federal Reserve Bank of San Francisco and $2,000,000 at Richmond, and declined $4,000,000 at Cleveland, $2,000,000 each at New York and Philadelphia and $5,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $24,000,000 while holdings of U.. S. securities were practically unchanged. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending May 6, 1931 were as follows: Increase or decrease since May 6 Apr. 29 May 7 1931 1931 1930 (In millions of dollars) Bills discounted 150 - 87 Bills bought 194 "+ ? 24 + 19 + 71 United States securities 598 Other reserve bank credit 24 + 11 - 14 TOTAL RESERVE BANK CREDIT 9S7 + 31 - 12 Monetary gold stock 4,743 +22 + 247 Treasury currency adjusted 1,783 + 4* +5 4,663 + 42* + 188 Money in circulation 2,418 + 10 +69 Member bank reserve balances Unexpended capital funds,nonrnember deposits,etc. 412 + 4 - 17 *April 29 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, May 8,1331;not earlier. B-338a RESOURCES MB LIABILITIES OF THE TlELvE FEDERAL RESERVE 3#K3 COMBINED (In thousands of dollars) Mav 6. 1931 Apr.29. 1931 May 7. 1930 R E S O U R C ES Gold with Federal reserve agents . . .. 1,774,714 1,782,314 1,659,814 Gold redemption fund with U,S. Treasury 32,624 32,529 41,097 1,700,911 Gold held exclusively against F,R.notes 1,807=333 1,814,843 Gold settlement fund with i\ R. Board 578,498 553,543 598,889 806,323 768,369 Gold and gold certificates held "by bank 786.';-a 3,068,169 Total gold reserves 3,172,277 3,174,709 Reserves other than gold 172,70% 177,359 173,955 Total reserves . . 3,344,981 3,352,068 3,242,124 63,890 Son-reserve cash 68,033 70,673 Bills discounted: 61,468 106,620 Sec. by U.S.Government obligations 58,297 Other bills discounted 91,905 93,683 130,828 237,44s Total bills discounted . . . 150,202 155,151 169,765 175,203 Bills bought in open market . . .. 193,269 U. S. Government securities: Bonds 59,080 60,457 55,145 Treasury notes 52,227 52,229 186,749 Certificates and bills 487,044 485,620 285,950 Total U.S.Government securities 598,351 598,306 527,844 10,600 Other securities 1,100 350 Total bills and securities 943,522 923,572 951,095 Dae from foreign banks . . 697 697 711 F.R. notes of other banks . 15,202 15,302 20,564 Uncollected items 491,987 469,010 586,852 Bank premises 56,424 58,420 58,580 17,102 12,202 All other resources . . .. 18,351 4,941,197 4,90b,s44 4,936,018 TOTAL RESOURCES . L I A B I L I T I ES 1,5110.783 1,527,740 1,492,994 F. R. notes in actual circulation . Deposits: Member bank - reserve account . . 2,417,734 2,407,529 2,349,446 Government 24,716 31,037 33,794 Foreign bank 5,575 5,683 5,337 Other deposits . .. 23,515 18,591 24,432 Total deposits 2,471,540 2,462,840 2,413,009 Deferred availability items 469,628 457,272 559,800 Capital paid in 168,590 168,612 174,185 274,636 276,936 Surplus 274,636 All other liabilities . . . 16,020 15,744 19,094 TOTAL LIABILITIES 4,941,197 4,906,844 4,936,01s Ratio of total reserves to deposit and F. R. note liabilities combined . . 83.4 84.0$ 83.0 Jb Contingent liability on bills purchased for foreign correspondents 402,752 410,076 468,574 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON MAY 6, 1931 B-338h (In thousands of dollars) R E S O U R C ES Minn. Kans.Cy. Dallas San Fran. Total Boston New York Phila. Cleve. Rich..Atlanta Chicago St.Louis 144,815 65,000 23,100 215,763 666 1.141 1.061 4,430 Gold held exclusively against 45,481 66,343 24,l6l 220,193 1,807,338 148,082 375,077 161,050 195,044 76,857 137,388 280,870 76,792 F. R. notes 15,785 16,120 16,299 33,407 578,498 37,255 208,910 56,347 38,229 12,193 10,081 111,936 21,936 Gold settlement fund with F.R.Board ,450 10.500 4.980 800 786:441 30.398 503,360 27.372 65,805 5.251 7,898 77,7^0 ll,3o7 Gold and gold cert if. held by "banks 3,172,277 215,735 1,087,347 245,269 299,072 94,301 155.367 470,566 110,095 66,716 92,963 45,440 289,400 Total gold reserves 3,839 6,974 7,809 9,894 172.704 15,368 59,343 8,329 15,927 10,391 5,962 19,933 £iS30_ Reserves other than gold 99,937 53,249 299 , 294 3^44,981 231,103 1,146,690 253,593 315,005 104,692 161,329 4j!)0,504 119,025 70,555 Total reserves 1,914 3,116 5.267 68,033 7,550 17,432 4,308 4,i4i 4,083 4,574 9,164 4,797 1,687 Non-reserve cash Bi S ll e s c d ur is ed c o b u y n t U e . d S : .Govt, obligations 9 5 1 5 , ,2 9 9 0 7 5 4 4 , , 3 7 7 3 6 0 1 1 5 2 , . 5 9 2 5 0 2 5 1 , 0 4 , 8 9 1 3 3 6 6. , Q 18 11 4 1 3 1 ,7 .1 3 9 5 1 9. 6 2 3 5 1 6 7.28 4 6,216 2,1 4 2 , 0 9 0 4 9 91 3.174 7.8 7 3 7 4 8 7.7 2 4 0 7 4 1 4 2 . , 5 9 5 3 7 6 Other bills discounted 3,665 8,612 7,951 17,493 150,202 9,106 23,472 l6,4i4 13,095 14,928 9,937 13,500 7,029 Total bills discounted 6,171 10,494 6,459 18,381 193,069 16,281 72,871 106 19,938 43 10,340 23,084 9,701 Bills bought in open market U. S. Government securities: 7,648 379 10,210 319 Bonds 600 1,110 623 10,545 IS i : £i n5:S J: n j* 3 .$ Treasury notes 17.461 32.PQT 13.409 28.128 1^7.044 43.478 133,767 43.757 50.624 28.168 11.595 58.566 20,800 Certificates and bills 25,709 33,730 29,242 38,992 598,351 46,182 160,170 49,352 62,693 29,933 15,673 81,123 25,442 Total U.S.Govt, securities 1,100 - 1,100 - : : : :— Other securities 943,522 71,569 262,613 65,872 95,726 44,954 35,955 117,712 42,172 35.545 52,886 43,652 74,866 Total bills and securities 16 20 a 48 697 52 229 69 71 28 25 94 24 Due from foreign banks 15 20 2 209 4,0*46 HO 1,129 1,536 1,184 2,312 1,041 739 915 250 1,731 F. R. notes of other banks 8,767 25,662 16,605 28,302 491^87 56,158 1 27,497 44,530 47,744 40,4j6 15,337 59,901 20,908 Uncollected items 1,926 3,803 1,331 4,621 58,424 3,45s 15,240 2,6i4 7,197 3,465 2,573 3,061 3,635 Bank premises 18.351 463 5,336 894 i.qo6 I.216 3.685 263—1,223 776 513 764 802 All other resources 4,941,197 370,562 1,579,083 372,045 472,919 200,450 224,712 688,516 192,830 120,011 185,650 119,488 4i4,931 TOTAL RESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAITXS OH MY 6, 1931 L I A B I L I T I ES (In thousands of dollars) B-33Sc Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation ; .,540,783 137,470 269,307 135.087 183 , 266 76,449 130,575 222,405 76,508 48,851 65,043 28,507 167,310 Depoeits: Member tank - reserve account ; ?,417,734 142,328 1,018,009 151,033 194,415 64,854 59,831 339,838 76,177 50,490 81,971 58,214 180,574 Government deposits 24,716 492 7,592 507 1,427 2,189 846 6,106 682 692 1,132 l ,44i i,6o4 Foreign bank 5,575 421 1,813 555 566 224 202 757 196 129 163 16s 381 Other deposits 23,515 40 13,542 117 2,199 106 159 518 315 372 51 67 6,029 Total deposits ; !,471,540 143,281 i,o4o,956 152,212 198,607 67,373 61,038 347,219 77,370 51,689 83,317 59,890 188,588 Deferred availability items 1^9,628 56,352 118,246 40,490 45,079 37,954 14,851 56,656 22,215 8,503 23,859 17,H9 28,304 Capital paid in 168,590 11,829 65,49s 16,776 15,750 5,720 5,242 19,922 4,829 3,019 4,239 4,311 11.455 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 16,020 331 4,501 415 1,246 84o 2,149 2,378 1,346 805 485 725 799 TOTAL LIABILITIES ! ,941,197 370,562 1,579,083 372,045 472,919 200,450 224,712 688,516 192,830 120,011 185,650 119,438 414,931 Reserve ratio (per cent) 83.4 82.3 87.5 88.3 82.5 72.8 84.2 86.1 77.4 70.2 67.4 60.2 84.1 Contingent liability on bills purchased for foreign correspondents 402,752 30,277 131,874 39,966 40,773 l6,l4s 14,533 54,49s 14,129 9,285 11,707 12,111 27,451 FEDERAL RESERVE MOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1,940,192 163,008 397,874 164,570 214,500 87,036 155,725 285,872 85,070 53,403 70,506 34,923 227,705 Held by Federal reserve bank 399,^08 25,538 128.567 29,483 31,234 10,587 25,150 63,466 8,56: 4,552 5,458 6,4i6 60,395 In actual circulation 1,540,783 137,470 269,307 135.087 183,266 76,449 130,575 222,405 76,508. 48,851 65,0^ 28,507 167,310 Collateral held by agent as security for notes issued to bank Gold and gold certificates 610,434 32,300 351,919 38,700 12,550 10,070 9,400 73,900 12,480 6,815 - 7,300 55,000 Gold fund - F. R. Board 1,164,280 114,617 10,000 121,300 180,000 66,000 127,000 203,000 62,800 38,000 65,000 15,800 160,763 Eligible paper 311,017 25,326 77,392 14,993 28,178 14,854 19,948 36,347 15,864 9,64o 18,705 14,097 35,673 Total collateral 2.085,731 172,243 439,311 174,993 220,728 90,924 156,343 313,247 91,144 54,455 83,705 37,197 251,436 MATURITY DISTRIBUTIOH OF BILLS AcTD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 150,202 92,593 12,246 20,613 11,655 11,586 1,509 Bills bought in open market 193,869 105,496 34,172 38,183 15,680 338 Certificates and bills 487,044 19,200 129,166 30,850 135,205 172,623 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis