H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-3S1 Friday morning, May 29; federal Reserve Board not earlier. May 28, 1931. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve credit outstanding during the week ending May 27, as reported "by the Federal reserve tanks, was $891,000,000, a decrease of $26,000,000 compared with the preceding week and of $74,000,000 compared with the corresponding week in 1930. On May 27 total reserve "bank credit amounted to $886,000,000, a decrease of $8 ,:000,000 for the week. This decrease corresponds with an increase of $23,000,000 in monetary gold stock and a decrease of $5,000,000 in money in circulation, offset in part "by an increase of $14,000,000 in member hank reserve balances and a decrease of $5,000,000 in Treasury currency. Holdings of discounted bills increased $3,000,000 at the Federal Reserve Bank of San Francisco, $2,000,000 at Kansas City and $4,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $6,000,000, 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 27, 1931, were as follows: Increase or decrease since May 27 May 20 May 28 1931 1931 1930 (In millions of dollars) Bills discounted 153 + 4 - 94 Bills bought 125 - 6 - 51 United States securities 598 - 1 + 68 Other reserve bank credit 10 6 - l4 TOTAL RESERVE BANK CREDIT 886 - 8 - 90 Monetary gold stock 4,795 + 23 + 279 Treasury currency adjusted 1,787 - 5 + a Money in circulation 4,634 + 143 Member bank reserve balances 2,425 + 78 Unexpended capital funds,nonmember deposits,etc 409 + 1 - 12 C Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, May 29,1931; not earlier. B-361a RESOURCES MD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) May 27.1931 May 20.1931 May 28.1910 R E S O U R C ES Gold with Federal reserve agents . . .» 1,792,364 1,790,864 1,596,714 Gold redemption fund with U.S.Treasury . 32,514 32,514 37,857 Gold held exclusively against F.R.notes 1,824,878 1,823,378 1,634,571 Gold settlement fund with F. R. Board . 579,15% 583,418 635,513 Gold and gold certificates held by banks 855,241 816,491 787,226 Total gold reserves 3,259,273 3,223,287 3,057,310 Reserves other than gold 173,241 176,615 163,519 Total reserves 3,432,514 3,399,902 3,220,829 Son-reserve cash 70,730 75,046 67,210 Bills discounted: Sec. "by U.S. Government obligations . 50,489 49,875 101,743 Other bills discounted 102,363 99,001 145,303 Total bills discounted . 152,852 148,876 247,046 Bills bought in open market 124,501 131,007 175,560 U. S. Government securities: 3°nds 59,085 59,171 46,936 Treasury notes 52,227 52,231 237,966 Certificates and bills . 487,056 487,134 244,368 Total U.S.Government securities 598,368 598,536 529,770 Other securities 768 767 6,4oo Total bills and securities . 876,489 879,186 958,776 Die from foreign banks 699 699 709 F.R.notes of other banks . . 15,463 16,492 .19,054 Uncollected items . 451,313 512,172 564,916 Bank premises 58,580 58,580 58,671 All other resources „ 19,393 19,130 12,194 TOTAL RESOURCES 4,925,181 4,961,207 4,902,359 L I A B I L I T I ES F.R;. Inotes in actual circulation . . . 1,551,808 1,551,458 1,465,867 Deposits: Member bank - reserve account . . .. 2,424,670 2,410,799 2,346,798 Government . . . . . . . . . . . .. 19,267 15,445 49,771 Foreign bank 7,396 5,727 5,387 Other deposits 19,772 20,553 18,893 Total deposits 2,471,105 2,452,524 2,420,849 Deferred availability items 442,526 497,812 548,376 Capital paid in 168,428 168,476 170,515 Surplus 274,636 274,636 276,936 All other liabilities 16,678 16,301 19,816 TOTAL LIABILITIES . . .. 4,925,181 4,961,207 K 90 2,359 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 85.356 84.9$ 82.9$ Contingent liability on bills purchased for foreign correspondents 381,570 383,698 461,853 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF TH3 FEDERAL RESERVE BAHS OH MAY 27, 193% R E S O U R C ES (In thousands of dollars) B-36l*b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,792,364 146,917 386,919 l60,000 192,550 67,070 125,600 291,900 71,730 43,815 62,000 23,100 220,763 Gold redemption fund with U.S.Treasury 32,514 1,136 13,092 1,004 2,460 915 960 3.958 1.505 66] 1,339 1*058 4Jt24 Gold held exclusively against F. R. notes 1,824,878 l4s,053 4oo,oil l6l,oo4 195,010 67,985 126,560 295,858 73,235 44,478 63,339 24,158 225,187 Gold settlement fund with F.R.Board 579,15% 31,863 224,103 69,574 46,800 10,994 7,458 87,372 19,o6s 11,350 17,659 1^,370 38,543 Gold and gold cert if. held by tanks 855,241 34,488 568,217 24.063 66,464 5.842 8,674 82,430 12.131 5.621 10,927 4,422 31,962 Total gold reserves 3,259,273 2l4,4o4 1,192,331 254,641 308,274 84,821 142,692 465,660 lo4,434 61,449 91,925 42,950 295,692 Reserves other than gold 173,241 13,238 6l,543 6,988 1 5,409 11,142 7,465 19.509 8,784 3,910 1 ^4 8 , 228 9,571 Total reserves 3,432,514 227,642 1,253,874 261,629 323,683 95,963 150,157 435,169 113,as 65,359 99,379 51,178 305,263 lion-reserve cash 70,730 8,423 18,538 3,812 3,378 4,589 5,372 8,850 5,029 1,762 1,847 3,53 2 5,598 Bills discounted: Secured "by U.S.Govt, obligations 50,489 4,910 14,567 6,864 6,093 4,065 569 4,828 1,820 698 1,820 273 3,982 Other "bills discounted 102,363 5,717 1 2,432 1 2,066 7«36l l4,l49 11,787 7,112 5.231 3,688 8.886 8.755 5,179 Total "bills discounted 152,8 52 10,627 26,999 18,930 13,454 18*214 1 2,356 11,940 7,051 4,386 10,706 9,028 9,161 Bills "bought in open market 124,501 13,103 27,454 106 17,57° 2,206 8,319 18,229 8,714 5,718 7,S4l 4,167 11,06S U. S. Government securities: Bonds 59,085 1,202 15,023 989 520 1,325 211 20,590 666 "7,654 379 10,207 319 Treasury notes 52,227 1,501 11,380 4,607 11,549 490 3,874 1,972 3,976 600 1,110 623 10,545 Certificates and bills 487.056 43.478 118,767 43.757 50.624 28.168 16.617 58.566 20.800 17,451 32.291 18.409 38.128 Total U.S.Govt, securities 598,368 46,181 145,170 49,353 62,693 29,923 20,70 2 81,128 25,442 25,705 33,780 29,239 48.^992 18 Other securities 768 - 750 ~ ~~ - ~ - - - - ' Total "bills and securities 876,489 69,911 200,373 68,389 93,723 50, W 41,377 111,297 41,207 35,827 52,327 42,434 69,221 Dae from foreign "banks 699 52 231 69 71 28 25 94 24 16 20 a 48 F. R. notes of other "banks 15, ^>3 257 4,772 175 996 1,528 1,308 1,647 1,941 447 660 362 1,370 Uncollected items 451,313 52,907 125,136 4o,6s6 43,072 34,190 12,000 55,042 19,068 8,44s 22,596 13,718 24,450 Bank premises 58,580 3,458 15,240 2,6l4 7,314 3,504 2,573 8,06l 3,635 1,926 3,803 1,831 4,6a All other resources 19,393 5l6 5,929 989 1.901 1.265 3,469 962 1,171 809 528 951 903 TOTAL RESOURCES 4,925,181 363,166 1,624,093 378,363 474,13s 191,470 23.6,281 671,122 185,293 114,594 181,160 114,027 411,474 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BAMS OF'MAY 27, 1931 L I A B I L I T I ES (In thousands of dollars) B-36lc Total Boston Hew York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,551,808 135,738 273,231 147,332 191,76l 73,291 127,409 229,591 72,6a 47,130 62,517 26,908 164,279 Deposits: Member hank - reserve account 2,424,670 139,233 1,065,960 145,015 190,335 61,865 57,694 322,0607 4,283 47,611 81,932 55,879 182,753 Government deposits 19,267 1,123 2,455 1,396 1,490 4,145 643 1,797 1,248 682 1,645 1,656 Foreign bank 7,396 421 3,634 555 566 224 202 757 196 129 163 168 381 Other deposits 19,772 56 9,442 87 1,996 125 138 853 238 231 S8_ 51 6,455 Total deposits 2,471,105 140,833 1,081,501 147,053 194,387 66,3595 8,677 325,467 75,965 48,653 83,170 57,745 191,245 Deferred availability items 442,526 53,021 118,537 39,665 41,974 33,139 11,953 53,984 19,930 7,833 22,037 i5,24o 25,208 Capital paid in 168,428 11,838 65,456 16,776 15,751 5,700 5,204 19,909 4,825 3,015 4,225 4,294 11,435 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 16.673 387 4.793 472 1.294 867 2.181 2.235 1.390 814 509 qo4 832 TOTAL LIABILITIES 4,925,181 363,166 1,624,093 378,363 474,135 191,470 216,281 671,122 135,293 114,594 131,160 114,027 411,474 Reserve ratio (per cent) 85.3 82.3 92.6 88.9 83.8 63.7 80.7 87.4 76.2 68.2 68.2 60.5 85.9 Contingent liability on bills purchase d for foreign correspondents321,570 28,814 123,777 38,035 38,803 15,368 13,831 51,866 13,447 8,836 11,142 11,526 26,125 FE3BRAL RESERVE MOTE STATEMEIIT Federal reserve notes: Issued to F.R.bank by F.R.Agent 1, ,957,603 163,318 408,977 173,099 217,901 84,6a 145,476 300,189 82,56s 52,330 68,300 33,336 226,938 Held by Federal reserve bank 405,795 27,580 135,746 25,767 2o,l4o 11,330 18,067 70,598 9,947 5,200 5,733 6,97 ^2,659 In actual circulation 1,551,808 135,738 273,231 147,332 191,761 73,291 127,409 229,591 72,6a 47,130 62,517 26,908 164,279 Collateral held by agent as security for notes issued to ban! Gold and gold certificates 616,884 32,300 351,919 38,700 12,550 10,070 9,4oo 73,900 13,930 6,815 - 7,300 60,000 Gold fund - F. R. Board 1, 175,480 114,617 35,000 1 a,300 i8o,ooo 57,000 116,200 as,000 57,800 37,000 62,000 15,800 160,763 Eligible paper 267,779 23,670 50,371 16,902 30,040 20,052 20,476 29,927 15,195 9,932 18.194 12,949 20.071 Total collateral 2,o6o,l43 170,587 437,290 176,902 222,590 37,122 146,076 3a,327 86,925 53,747 80,194 36,049 240,834 MATURITY DISTRIBUTION OF BILLS MD 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 152,852 86,762 13,313 23,513 12,864 15,395 1,005 Bills bought in open market 124,501 46,582 30,805 42,768 3,848 4gS Certificates and bills 437,056 65,375 52,300 57,550 118,709 193,122 Municipal warrants 18 18 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis