H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-38G Released for publication Federal Reserve Board Friday morning, June 19", not earlier. June IS, 1531. CONDITION OF FBDSRAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending June 17, as reported by the Federal reserve banks, was $941,000,000, an increase of $7,000,000 compared with the preceding week and a decrease of $65,000,000 compared with the corresponding week in 1930. On June 17 total reserve bank credit amounted to $907,000,000, a decrease of $22,000,000 for the week. This decrease corresponds with an increase of $90,000,000 in monetary gold stock offset in part by a decrease of $35,000,000 in Treasury currcncy, adjusted, and increases of $33,000,000 in money in circulation, and $3,000,000 in member bank reserve balances. Holdings of discounted bills declined $7,000,000 at the Federal Reserve Bank of Sail Francisco and increased $4,000,000 at New York, $3,000,000 at Cleveland and $2,000,000 at Boston, all Federal reserve banks combined showing a small increase for the week. The System's holdings of bills bought in open market declined $20,000,000 and of Treasury certificates and bills $40,000,000 while holdings of U. S. bonds increased $40,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending June 17, 1931, wore as follows: Increase or decrease since June 17, June 10, June IS, 1931 1931 ... 1930 (In millions of dollars) - 22 Bills discounted 1 1 0 85 7 - 20 - 26 Bills bought - + 1 United States securities 599 - Other reserve bank credit 16 - 2 - s TOTAL RESERVE BANK CREDIT 907 — 22 - 54 Monetary gold stock 4,393 4- 90 + 364 - 27 Treasury currency adjusted 1,764 - 35 + 306 Money in circulation 4,756 + 33 Member bank reserve balances 2,401 + 3 - 7 Unexpended capital funds,nonmember deposits,etc. 407 2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 19,1931; not earlier. 3-3S8a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) June 17.1931 June 10.1931 June IS.1930 R E S O U R C ES Gtold with Federal reserve agents . . .. 1,908,344 1,883,674 1.599.114 Gold redemption fund with U.S.Treasury . 32,656 33,114 37,001 1,916,788 1.636.115 Gold held exclusively against F.R.notes 1,941,010 609,250 Sold settlement fund with F. R. Board 466,969 492,820 Gold and ..old certificates held "by banks 947,310 867,395 821,837 Total £old reserves . . .. - 3,355,239 3,277,003 3,067 , 202 166,709 Reserves other than gold 170,985 167,599 Total reserves . . . 3,526,274 3,444,602 3,233,9H -Ton-reserve cash 71,114 74,673 64,338 Bills discounted: 66,925 Sec. by U.S. Government obligations 76,323 77,098 Other bills discounted . . . .. 109,065 107,657 139,869 206,794 Total bills discounted . . . 185,382 184,755 Bills bought in open market lo5,Sl4 127,217 132,776 U. S. Government securities: Bonds 117,209 77,118 57,141 Treasury notes • 52,233 52,227 251, 4i6 Certificates and bills 429,562 469,679 289,091 Total U.S. Government securities . 599,024 597,648 599,oo4 Other securities . . . .. 9,248 1,687 5,350 Total bills and securities . . . . 900,454 912,683 942,568 698 Due from foreign banks . . . 699 710 19,666 F.R.notes of other banks . .. 15,467 15,309 Uncollected items 570,441 468,173 718,184 58,618 Bank premises 58,730 59,552 All other resources 22,692 2l,o45 10,999 5,165,871 4,995,801 5,049,928 TOTAL RESOURCES L I A B I L I T I ES 1,668,313 1,641,949 1,419,266 F.R. notes in actual circulation . . .. Deposits: Member bank - reserve account 2,401,114 2,397,856 2,408,364 Government 43,573 14,313 28,412 6,693 Foreign bank 5,676 7,172 Other deposits 22,156 21,149 20,682 Total deposits 2,472,499 2,440,011 2,464,630 Deferred availability items . . . . .. 564,842 453,037 700,030 169,692 Capital paid in 168,325 168,370 Surplus 274,636 274,636 276,936 All other liabilities 17,256 17,793 19,374 5,165,871 4,995,301 5,049,928 TOTAL LIABILITIES Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 85.; 84.4$ 83.3; Contingent liability on bills purchased for foreign correspondents 378,717 370,185 457,543 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES 0? THE FEDERAL RESERVE BAHXS Oil JUKE 1?, 1931 R E S O U R C ES (In thousands of dollars) B-388b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold:,with Federal reserve agents 1,908,344 149,917 386,919 l60,000 197,550 61,070 122,800 431,900 68,230 45,090 58,000 21,105 205,763 Gold redemption fund with U.S.Treasury 32,666 1,097 12,960 918 2,403 1,233 1,172 3,93b 1,494 o58 l,32o 1,054 4, 15 G°FU R0lnotes1"5 1,9)41,010 151,014 399,879 160,918 199,953 62,303 123,972 435,836 69,724 45,748 59,326 22,159 210,178 Gold settlement fund with E.R.Board 466,969 31,679 130,493 73,478 44,689 7,751 6,731 69,950 24,158 14,003 22,255 12,922 28,860 Gold and gold certif. held by banks 947,310 34,86b 652,212 25,795 £>4,963 5,779 8,389 84,^12 11,294 9,001 jj 29 ,_37 ,9 260,191 309,605 105,176 Total fold reserves 3,355,289 217,559 1,182,534 75,833 139,088 590,698 64,752 91,410 37,452 280,941 Reserves other than gold 170,985 11,949 6l,4g8 7,044 15,868 11,300 8,128 18,771 8,465 4,127 6,809 8,707 8,319 229,508 267,235 98,219 289,260 Total reserves 3,526,274 1,244,082 325,473 87,133 147,21b 609,^69 113,64i 68,879 46,159 'Ton-reserve cash 7l,ll4 7,988 2Q,4o4 3,575 4,181 4,397 5,352 8,919 4,819 1,564 1,796 3,-311 4,808 1 S s r- m « as 'a AS »,% m a ,g Total bills discounted 185,388 11,260 33,264 18,823 20,173 17,835 12,299 16,340 7,216 4,317 11,833 10,279 21,749 Bills bought in open market 106,si4 11,085 32,807 106 10,317 3,679 7,093 i4,ooo 5,904 3,946 6,4a 3,713 7,743 U. B T S. o re n a G ds s o u v r e y r n n m o e te n s t securities: 11 5 7 2 , , 2 2 0 3 9 3 1 5 , , 5 6 0 82 1 1 3 1 0 , , 3 55 8 8 0 7 4 , ,6 4 0 66 6 11 5 , , 5 7 4 0 9 9 4,1 4 6 9 6 0 1 3 , , 9 3 9 7 9 4 2 1 8 , , 9 2 7 8 2 9 3 2 , , 9 7 7 7 6 9 10,5 6 5 0 7 7 1 3 , , 1 7 1 0 0 3 12,1 6 0 2 3 3 1 4 0 , , 1 5 9 4 8 5 Certificates and bills 429,562 38,997 103,232 35,164 45,432 25,327 14,806 52,535 13,687 15,653 28,967 16,513 34,249 Total U.S.Govt, securities 599,004 46,180 145,170 47,236 62,690 29,933 20,679 82,796 25,442 26,817 33,780 29 , 239 48,992 Other securities 9,248 535 3,570 605 735 335 315 995 425 308 350 250 725 Total bills and securities 900,454 69,110 214,811 66,770 93,965 51,832 40,386 114,131 38,987 35,388 52,384 43,481 79,209 Dae fror, foreign banks 699 53 229 69 , 71 28 25 9 4 25 1° 20 21 48 F. R. notes of other banks 15,467 230 4,927 171 9l4 1,342 7]42 2,3o2 903 o38 1,257 250 1,731 Uncollected items 570,44i 6i,815 156,180 50,851 54,819 43,989 15,417 74,30b a,763 11,280 27,009 19,394 33,618 Bank premises 58,730 3,458 15,240 2,6l4 7,431 3,538 2,572" 8,061•" 3,635 1,926 3,803 1,831 4,621 All other resources 22,692 b33 6,6^7 1,026 3>5Cfl» 3>3^> 1)^92 l,lo5 57^ ' ^ TOTAL RESOURCES 5,165,871 372,795 1,662,520 392,311 490,355 193,553 215,05S 819,234 184,938 120,539 185,0c2 115,3ol 4l4,l45 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE BMKS OH JUNE 17, 1931 L I A B I L I T I ES (-In thousands of dollars) B-32SC Total Boston New York Fhila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 1,66s,313 273,577 145,756 71,102 123,093 341,643 72,066 48,185 62,906 26,626 168,546 F.R.notes in actual circulation 133,619 200,589 Deposits: Kejiber bank - reserve account 2,401,114 i4o,o4s 1,053,047 144,743 186,167 6o,54l 57,370 326,723 70,672 49,899 82,522 53,694 175,688 Government deposits 43,573 2,026 23,735 5,478 2,130 788 311 6,468 327 483 265 333 1,229 Foreign "bank 5,676 473 1,443 625 637 252 227 S52 2a 145 183 189 429 169 126 Other deposits 22.136 141 10.462 195 2,177 90 lol 1,642 380 332 6,255 Total deposits 2,472,499 142,688 1,088,687 151,041 191,111 61,671 58,075 335,685 71,600 50,859 83,139 54,342 183,601 Deferred availability items 564,842 62,924 149,071 51,147 52,597 42,082 15,654 79,792 23,921 10,541 25,569 20,328 31,216 Capital paid in 168,325 11,837 65,495 16,775 15,732 5,694 5,192 19,864 4,819 3,006 4,223 4,256 11,432 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 1^256. 428 5,115 521 _JL355. 890 2.182 2.314 , 1,370 804 523 m 875 TOTAL LIABILITIES 5,165,871 372,795 1,662,520 392,3H 490,355 193,553 215,05s 819,234 184,938 120,539 185,062 115.361 414,145 Reserve ratio (per cent) 85.2 83.1 91.3 90.0 83.1 65.6 81.3 90.0 78.8 69.5 67.3 57.0 82.1 Contingent liability on bills purchased for foreign correspondents 378,717 28,176 126,64c 37,192 37,943 15,027 13,524 50,716 13,149 8,64o 10,894 11,270 25,546 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R."bank by F.R.Agent 2,< ,099,019 158,844 421,837 171,395 226,524 81,964 i4i,4i5 436,641 80,458 52,810 6,462 33,465 226,704 Held by Federal reserve bank 430.706 25,225 146.260 26.139 25.935 10.862 18.317 94.998 7.792 4.625 3,556 6.839 58.158 72,666 62,906 26,626 In actual circulation 1,668,313 133,619 273,577 145,756 200,589 71,102 123,098 34l,643 48,185 168,546 Collateral held by agent as security for notes issued to bank Gold and gold certificates 612,364 35,300 351,919 38,700 12,550 10,070 9,900 73,900 13,930 6,790 . - 9,305 50,000 Gold fund - F. R. Board 1, 295,980 114,617 35,000 121,300 185,000 51,000 112,900 358,000 54,300 38,300 58,000 11,800 155,763 Eligible paper 277.190 22.286 56.686 15.635 30.324 21.423 19,252 29.685 12.725 8.087 17.936 13.791 29.360 Total collateral 2,185,534 172,203 443,605 175,635 227,874 82,493 142,052 461,585 80,955 53,177 75,936 34,896 235,123 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 185,388 116,017 15,101 20,938 14,767 18,164 401 Bills bought in open market 106,314 49,808 32,025 20,665 4,200 ll6 Certificates and bills 429,562 9,300 20,500 31,850 155,297 128,273 84,342 Municipal warrants 48 48 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis