H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released, for publication B-348 Friday morning, May 15; Federal Reserve Board not earlier. May 1^, 1931* CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve credit outstanding during the week ending May 13, as reported by the Federal reserve banks, was $933,000,000, a decrease of $39,000,000 compared with the preceding week and of $49,000,000 compared with the corresponding week in 1930. On May 13 total reserve bank credit amounted to $918,000,000, a decrease of $49,000,000 for the week. This decrease corresponds with decreases of $3b,000,000 in money in circulation and $4,000,000 in unexpended capital funds, etc., and an increase of $23,000,000 in monetary gold stock, offset in part "by an increase of $3,000,000 in member bank reserve "balances and a decrease of $10,000,000 in Treasury currency adjusted. Holdings of discounted "bills increased $3,000,000 at the Federal Reserve Bank of New York and $2,000,000 at Boston, and declined $11,000,000 at San Francisco, $2,000,000 at Richmond and $5,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $41,000,000 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 "ay 13, 1931 were as follows: Increase or decrease since May 13 May 6 May l4 1931 1931 1930 (In millions of dollars) -65 Bills discounted 145 - 5 Bills "bought 153 -4l -18 United States securities 598 - +70 Other reserve bank credit 21 -3 -21 TOTAL RESERVE BAI3: CREDIT 918 -49 Monetary gold stock 4,766 +23 +264 Treasury currency adjusted 1,773 -10 -27 Money in circulation 4,627 -36 +180 Member "bank reserve balances 2,421 + 3 + 42 Unexpended capital funds,nonmember deposits,etc. 408 - 4 - 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 15,193l;not earlier. B~348a RESOURCES MB LIABILITIES OF THE TWELVE FEDERAL HESS&VE BAHS COMBINED (in thousands of dollars) M.av 13.1931 May 6.1931 May 14,1930 R E S O U R C ES Gold with Federal reserve agents . . .. 1,757,354 1,774,714 i,64o,si4 Gold redemption fynd with U.S. Treasury 32,623 32,624 40,722 Gold held exclusively against F. R.notes 1,790,437 1,807.333 1,681,536 Gold settlement fund with F. R. Board . 6o4,223 578,49s 597,931 Gold and gold certificates hold by banks 815,899 736,44i 794,565 Total A'old reserves 3,210,509 3,172,277 3,07U,0S2 Reserves other than gold 173,275 172,704 174,177 Total reserves 3,338,334 3,344,981 3,248,259 lion-reserve cash . 7711,,446611 68,033 66,349 Bills discounted: Sec. "by U.S. Government obligations . 43,832 53 , 297 3333,,554433 Other bills discounted . . . . . . .. 95,072 91,905 126,943 Total bills discounted . . . l44,go4 150,202 210,436 Bills bought in open market 153,105 193,869 171,035 U. S. Government securities: Bonds . . . . .. . 59,015 59,080 52,431 Treasury notes . 52,228 52,227 193,816 Certificates and bills 437,171 487,044 281,655 Total U.S.Government securities . 593,414 598,351 527,902 Other securities 1,113 1,100 10,600 Total bills and securities 397,544 943,522 920,023 Due from foreign banks 693 697 712 I.E. notes of other banks . .. j. . .. . 15,475 15,202 18,654 Uncollected items ' 542,396 491,937 705,492 Bank premises 53,432 58,424 58,580 All other resources 13,760 13,351 12,369 TOTAL RESOURCES 4,993,703 4,941,197 5,030,433 L I A B I L I T I ES F. R. notes in actual circulation . . .. 1,523,310 1,540,783 1,464,897 Deposits: Member bank - reserve account 2,^20,793 2,417,734 2,379,360 Government 36,200 24,716 12,337 Foreign bank 5,31$ 5,575 5,526 Other deposits 20,369 23,515 23,107 Total deposits 2,433,131 2,471,540 2,420,330 Deferred availability items 522,909 469,523 667744,,339999 Capital paid in 168,453 163,590 117744,,115544 Surolus 227744,,663366 274,636 276,936 All other liabilities 1166,,221144 15,020 19,222 TOTAL LIABILITIES 4,993,703 4,941,197 5,030,438 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 84.5# 83.4$ 83.6# Contingent liability on bills purchased for foreign correspondents . . . .. 354,907 440022,,775522 471,64s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A1TD LIABILITIES OF TEE FEDERAL RESERVE BASKS 017 MAY 13, 1931 (in thousands of dollars) B-348b R E S O U R C ES Total Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Hans. Cy. Dallas San Fran. agents 1,757,364 146,917 361,919 160,00c 192,550 75,070 130,100 276,900 73,730 44,815 62,000 23,ioo 210,763 Gold with Federal reserve U?S.Treasury_ 32.623 1,165 13,158 1,050 2,494 787 988 3,970 1,512 666 1,342 1,061 4r430_ Gold redemption fund with U Gold held exclusively against 1,790,487 148,082 375,077 161,050 195,044 75,857 131,088 280,870 75,242 45,481 63,342 24,161 215,193 F. R. notes Gold settlement fund with F,R.Board Gold and gold cert if. held by banks 8^839 31:147 535J68 25:955 65:279 ^5:565 7:969 ^ 7 9 %4 ^11*030 ^5^935 \l',098 % 7l 3^978 Total iKold reserves 3,210,609 212,837 1,134,69s 251*059 312,484 92,60s 147,958 462,532 105,152 62,6o4 93,156 43,097 292,424 178,275 15,807 62,699 7,846 15,720 10,781 7,142 20,114 8,908 3,866 7,253 8,452 9,687 Reserves other than gold 3,388,884 228,644 1,197,397 258,905 328,204 103,389 155,100 482,646 il4,o6o 66,470 100,4og 51,549 302,111 Total reserves Eon-reserve cash 71,461 8,544 18,527 3,919 3,932 4,342 5,077 9,394 5,034 1,827 2,064 3,533 5,208 Bi S ll e s c d u i r s ed co b u y n t U e . d S : i Govt, obligations 48,832 5,858 18,073 6,602 6,830 1,403 343 4,971 1,783 714 878 204 1,167 rt 4,905 3,306 7,834 8,056 4,921 Other bills discounted Total bills discounted 144,504 11,235 31,837 17,723 14,562 13,383 io,o4i 12,229 6,688 4,020 8,712 8,260 6,088 Bills bought in open market 153,108 14,294 45,512 106 18,016 43 8,989 19,441 9,232 6,002 3,453 5,570 16,450 U. S. Government securities: B T o re n a ds s ury notes 5 5 9 2 , ,2 0 2 15 8 1 1 , , 2 5 0 02 2 1 1 5 1 , ,3 0 8 23 0 4,6 3 0 83 6 11,5 5 4 2 3 0 1,3 4 2 3 5 0 3,8 3 7 0 5 s 2 1 0 . , 9 5 7 9 2 0 3,9 6 7 6 6 6 7,5 6 0 0 2 0 1,1 3 1 7 0 3 10,1 6 3 2 2 3 10,5 3 4 1 5 9 Certificates and bills 487,171 43,478 118,767 43.757 50,623 28,l6S 16,733 58,566 20,800 17,451 32,231 18,403 38,128 Total U.S.Govt, securities 59s, 4i4 46,182 145,170 43,352 62,632 29,983 20,916 81,128 25,442 25.553 33,780 23,224 48,932 Other securities 1,118 — 1,100 - - - - - - IS - - — Total bills and securities 897,544 71,771 223,679 67,187 95,270 43,409 51,345 43,054 71.530 Due from foreign banks 69s 52 231 69 71 28 f5 94 66 24 7 16 1,22 2 2 0 34 a 1 1,34 4 3 7 Ft R. notes of other banks 15,47s a5 5,287 143 773 1,210 1,245 2,113 919 U Ba n n c k o p ll r e e c m te is d e i s t ems 5 5 4 8 2, , 3 4 9 8 6 2 6 3 2 ,4 ,6 5 2 s 6 1 1 5 5 , 3 2 , 4 01 0 5 48 2 , , 0 6 5 i 0 4 5 7 2, , 2 2 1 82 6 4 3 1 , , 5 0 0 7 4 4 1 2 4 , , 5 9 7 7 3 1 5 8 4 , , 0 8 6 01 1 2 3 2 , , 6 97 3 3 5 9 1, . 9 8 2 9 6 0 2 3 6 , , 8 3 0 7 3 s 1 1 8 , , 8 2 3 8 1 3 2 4 8 , , 6 0 2 53 1 All other resources 18,760 463 5.669 1,030 1,345 1,227 3,66l 795 1,196 757 U69 746 802 TOTAL RESOURCES 4,933,703 375,773 1,619,045 381,917 439,693 198,183 222,59s 630,,702 189,011 117,398 186,310 119,353 413,715 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES' AInD L^xLiixjiS OF THE FEDERAL H^SKRVE BAtiKS On „Jii xj, L I A B I L I T I ES (In thousands of dollars) B~34sc Total Boston ITevr York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,528,310 137,226 25s,323 140,179 127,^10 75,047 129,659 222,032 73,366 48,066 63,745 27,682 lo5,4l5 Deposits: Member bank - reserve account 2,420,793 l4o,428 1,034,215 151,072 201,367 63,241 58,421 330,669 72,744 48,138 82,255 57,149 130,434 Government deposits 36,200 1,403 13,353 1,142 1,867 1,606 1,264 2,209 1,379 797 1,654 1,822 2,174 Foreign "bank 5,319 421 2,057 555 566 224 202 757 196 129 163 16s 381 Other deposits 20,369 30 11,144 120 1.674 139 139 513 243 2QCL 65 64 6,033 Total deposits 2,483,181 142,342 1,066,899 152,889 205,474 65,210 60,026 334,153 74,562 49,264 24,137 59,203 189,022 Deferred availability items 522,909 62,533 143,196 44,573 50,727 39,245 14,664 62,466 24,340 9,077 25,005 12,524 22*559 Capital paid in 162,453 11,338 65,408 16,776 15,748 5,720 5,227 19.912 4,229 3,016 4,239 4,297 11,437 Surplus 274,636 21, 299 20,575 27,065 28,971 2,114 10,357 39,936 10,562 7,144 2,702 8,936 12,475 All other liabilities 16.214 535 4.584 435 J^2h3_ 847 -2,1b.x 2,197 1.35? &*3 1. 4S2_ JlL 2QZ_ TOTAL LIABILITIES 4,993,703 375,773 1,619,045 321,917 439,693 192,123 222,59; 680,702 189,011 117,392 186,310 119,352 413,715 Reserve ratio (per cent) 84.5 90.4 82.3 23.5 73.7 21.2 26.8 77.1 68.3 67.9 59.3 85.2 Contingent liability on Mils purchased for foreign correspondents 394,907 29 , 579 129,323 39,176 39,967 15,229 14,246 53,421 13,250 9,101 11,476 11,371 26,908 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank "by F.R.Agent 1 J J 34,945 164,006 395,603 165,395 216,333 26,068 148,592 289,350 84,771 53,061 69,738 34,556 226,872 Held "by Federal reserve "bank 4o6,635 26,720 137,220 25,216 29,423 11,021 18,933 67,318 11.405 4.335 5.993 6.574 61.457 In actual circulation 1 ,528,310 137,226 258,323 140,179 127,510 75,047 1 29,659 222,032 73,366 4s,066 63,745 27,682165,415 Collateral held "by agent as security for notes issued to bank Gold and gold certificates 616,224 32,300 351,919 32,700 12,550 10,070 9,400 73,900 13,930 6,815 7,300 60,000 Gold fund - F. R. Board 1 ,140,920 114,617 10,000 121,300 180,000 65,000 120,700 203,000 59,800 38,000 62,000 15,200 150,763 Eligible paper 27w6?, 2—88" v25,52 ^8 61.50 19 1 6y-,L379 31.522 t juo. 101 2ii,5//20 18.793 31 M.3»2^ jQu y.Q15H.-1i 0K2. iio C.84S 17.778 14b 13,522 22,346 Total collateral 2,034,152 172,445 423,420 176,379 224,132 27,590 142,893 308,286 83,832 54,66o 79,778 36,628 233,109 MATURITY DISTRIBUTION OF BILLS MB SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days months^ Over 6 months Bills discounted 144,904 23,371 13,926 21,7 22 11,929 1 2,456 1,500 Bills bought in open market 153,108 74,212 36,592 32,877 8,524 237 Certificates and bills 427,171 19,200 133,207 30,350 131,292 172,622 Municipal -warrants 18 - - - 12 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis