H.4.1 Factors Affecting Reserve Balances of Depository Institutions

S2.ATEL3MT FOR SEE PRESS Released for publication 3-401 Friday morning, July 3; Federal Reserve Board not earlier. July 2, 1931. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending July 1, as reported "by the Federal reserve "banks, was $954,000,000, a decrease of $2,000,000 compared with the preceding week and of $77,000,000 compared with the corresponding week in 1930. On July 1 total reserve hank credit amounted to $950,000,000, a decrease of $10,000,000 for the week. This decrease corresponds with a decrease of $68,000,000 in member hank reserve balances and increases of $39,000,000 in monetary gold stock and $32,000,000 in Treasury currency, ad,justed, offset in part "by increases of $107,000,000 in money in circulation and $22,000,000 in unexpended capital funds, etc. Holdings of discounted bills declined $23,000,000 at the Federal Reserve Bank of San Francisco, $7,000,000 at Chicago, $6,000,000 at New York, $5,000,000 at Richmond and $43,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $3,000,000 and of Treasury certificates and bills $14,000,000, while holdings of U. S. bonds increased $51,000,000 and of Treasury notes $7,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 1, 1931, were as follows: Increase or decrease since July 1 June 24 July 2 1931 1931 1930 TTn millions of dollars) Bills discounted 150 - 4s -110 Bills bought 103 - 3 - 54 United States securities 663 + 44 + 67 Other reserve bank credit 33 - 5 - 23 TOTAL RESERVE BANK CREDIT - 10 -120 Monetary gold stock + 39 +4is Treasury currency adjusted + 32 - 20 Money in circulation +107 +287 Member bank reserve balances • 2,389 - 68 - 17 Unexpended capital funds,nonmernber deposits,etc. 44l + 22 + 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B-401a Released for publication -Friday morning, July 3,1931; not earliei RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL RESERVE BA2IKS COMBINED (In thousands of dollar's) July 1,1931 June 24,1931 July 2,1930 R E S O U R C ES Gold with Federal reserve agents . . . 1,933,564 1,903,284 1,568,014 Gold redemption fund with U.S. Treasury 30,ID 7 30,166 36,675 Gold held exclusively against F.R.not 1,963,731 1,933,450 1,6o4,689 Gold settlement fund with F. R. Board 514,492 475,278 610,593 Gold and gold certificates held by hank 933,gig 973,861 778,127 Total gold reserves . . . 3,4i2,o4i 3,382,589 2,993,409 Reserves other than gold 167,257 175,059 157,835 Total reserves . . 3,579,298 3,557,648 3,151,244 Son-reserve cash 65,011 74,422 55,002 Bills discounted: Sec. "by U.S. Government obligations 46,395 8b,OOo 105 , 234 Other "bills discounted 103,805 111,672 155,179 Total bills discounted . . .. 150,200 197,678 26o,4i3 Bills bought in open market 103,341 106,390 157 , 485 U. S. Government securities: Bonds 188,395 136,840 47,531 Treasury notes 6O,74i 53,382 236,519 Certificates and bills 4i4,263 427 , 781 311,903 Total U.S. Government securitie 663,399 618,503 595,953 10,601 8,063 7,301 Other securities 16,700 Foreign loans on gold 947,334 1,021,152 Total bills and securities 927,541 2,699 70S Due from foreign banks 1,426 F. R. notes of other banks . . . . . 14,942 17,464 .19,950 Uncollected items 533,070 446,117 663,5°7 Bank premises 58,783 58,782 59,561 All other resources 26,425 22,702 12,033 TOTAL RESOURCES . . .. 5,206,49o 5,127,l6S 4,983,265 L I A B I L I T I ES F. R. notes in actual circulation 1,733,396 1,674,189 1,432,252 Deposits: Member bank - reserve account . 2,389,211 2,457,474 2,406,376 Government 41,182 59,459 24,399 Foreign bank 35,625 19,987 6,467 36,063 Other deposits . . . . . . . .. 34,830 19,918 Total deposits . . 2,500,848 2,556,338 2,473,805 615,924 Deferred availability items . . . 5H,815 435,785 Capital paid in 168,170 log,244 169,626 Surplus 274,636 274,636 276,936 All other liabilities 12,631 17,476 14,722 5,127,168 4,933,265 TOTAL LIABILITIES 5,206,49b Ratio of total reserves to deposit and F. R. note liabilities combined . . . 84.4$ 84.1$ 80.7$ Contingent liability on bills purchased 481,269 for foreign correspondents . . . . .. 335,334 367,700 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS JULY 1, 1931 R E S O U R C ES (In thousands of dollars) B-40113 Total Boston Hew York Fnila. CIeve. Rich. Atlanta Chicago St.Louis Mimu Kans.Cy. Dallas San Fran. r e S ^ f o n ^ ' ^h ^ . , . , r v ' ^ o : l 67 ' t o 97 ^ 2^ " ' . "g ^3 ^36 "i',33 ^ O ^ l ' j l? Relnotes1US jealnst 1,963,731 151,014 399,879 160,91s 204,953 63,804 119,272 440,836 71,724 48,423 62,326 22,904 217,678 %% « 1^1 ^ ^ \%::% ^ Total gold reserves 3,4l2,o4l 213,303 1,183,4O4 259,509 319,926 S3,536 133,478 606,347 105,272 66,155 95,4l4 40,629 299,93s Reserves other than gold 167,257 11,334 56,796 6,o72 15,510 11,190 8,07S—21, 210 8,525 3,952 7,9^° 8 ,lo3 7,881 jo+al reserves 3,579,298 224,637 1,240,200 266,181 335,496 94,726 146,556 627,557 113,797 70,117 103,360 48,852 307,819 Non-reserve cash 65,011 7,748 17,328 3,4io 3,875 3,Si6 4,952 8,560 4,665 1,514 1.633 3,073 4,437 il'M ikll! iJll I:™ zM iMl o t S r t mt Ja ! ^ ; ?l i g a t i o ns 5:92! i ^ '3 8:076 7 :% 9,130 7,196 s e Total, bills discounted 150,200 11,569 27,868 i6,5i6 17,611 16,595 11,469 10,222 7,374 4,025 8,741 9,611 8,099 Bills "bought in open market 103,341 9,278 33,700 1,045 8,5o4 3,173 9»251 8,491 5«^4o 3>703 5,874 4,o4l 10,775 s e c u r i t i e s: 183,395 9,541 47,99s 11,045 10,544 5,382 2,826 34,357 5,090 11,535 6,599 13,891 29,587 Treasury notes 66,74l 2,856 9,591 5.7&1 13,156 1,218 4,332 3,887 4,06b 1,153 2,117 1,220 10,784 Certificates and bills 4l4.263 37.392 110,152 34.164 43.844 23.383 13,583 51,027 18,299 15,077 27,802 15,919 23,o21 Total U.S.Govt, securities 663,399 49,789 167,74l 50,970 67,544 29,983 20,74l 89,271 28,055 27,705 36,518 31,030 63,992 Other securities 10,601 485 5,9^0 750 635 245 230 S35 225 301 255 ^20 550 Total bills and securities 927,541 71,121 235,219 69,281 94,354 49,996 4l,691 108,819 4i,6oo 35,79% 51,388 44,862 83,416 1 Dae from foreign banks 1,426 52 957 69 71 28 25 94 ^25 ^l6 20 21 48 EB?™ " ™ IE 1:1 il "J 1:1 # # # 1:1 ?:t t# til All other resources 26,425 680 10.194 1,034 1,884 1,36.7 3 ,321 2,)2] 1,147 852. 6lj> 3^2 2,11,1 TOTAL RESOURCES 5,206,496 374,552 l,684,124 394,681 489,834 193,795 212,633 819,726 185,000 120,158 180,305 115,i°l 430,467 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 1, 1931 B-4oic (In thousands of dollars) L I A B I L I T I ES Total Boston Uew York Phila. Clevc. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. F.R.notes in actual circulation 1,738,395 136,300 306,521 145,981 202,116 71,890 120,13% 364,345 72,931 49,803 62,348 27,578 178,449 De M p e o m s b it e s r : b ank - reserve account 2,389,211 134,008 1,030,090 148,382 190,818 59 5 . , 3 69 1 2 2 58 2 , , 8 3 4 9 1 2 3 4 2 ,0 4 0 ,8 5 2 4 70 2 , ,6 9 0 15 9 47 3 , , 4 33 2 8 1 84 2 , , 6 1 8 2 8 7 55 2 , , 0 0 2 5 3 4 184,5 7 0 1 8 2 Government deposits 4 3 1 5 , ,6 1 2 82 5 1 2 , , 2 4 0 2 0 6 1 1 0 3 , , 2 9 7 2 0 1 4,108 3,202 3 3 , . 0 2 5 6 5 7 1,294 1,164 4,367 1,132 744 938 970 2,200 F O o th re er i g d n e " p b o a s nk it s 34,830 38 22,345 230 2,25s 119 89 1,030 232 192 58 34 8,205 2,500,84s 137,672 1,076,626 155,922 199,398 66,417 62,486 334,226 74,839 51,695 87,811 58 , 031 195,625 Total deposits Deferred availability items 1 5 6 1 8 1 , , 1 8 7 15 0 6 11 7 , ,2 8 9 37 9 6 1 5 5 , 1 4 , 5 7 4 03 48 , 1 8 6 9 , 5 757 1 4 5 2 , , 6 7 8 8 9 3 5 3 , 6 6 , 9 9 2 61 5 1 , 1 1 . 9 9 5 30 5 9 1 . 9 5 , 5 8 8 4 c 2 4 0 , , 3 5 1 1 b 2 2 7 , , 9 7 9 6 7 1 2 4 2 , , 2 8 2 9 3 4 15 4 , , 5 2 7 4 9 2 1 2 1 5 , , 4 9 2 3 0 5 Capital paid in 10,562 7,144 8,702 3,936 13,475 274,636 a,299 80,575 27,065 28,971 12,114 10,857 39,93o Surplus All other liabilities 12,531 145 3.245 6l_ 872 721 2,031 1,813 1,290 758 387 745 563 5,206,496 374,552 1,684,124 394,681 439,834 193,795 212,633 819,726 185,000 120,15s 186,365 115,151 430,467 TOTAL LIABILITIES 68.8 ' gu.4 82.0 89.7 83.2 83.6 68.5 80.3 89.8 77.0 69.1 57.0 82.3 Reserve ratio (per cent) Contingent liability on bills purchased for foreign correspondents 335,334 25,996 102,759 34,314 35,008 13,864 12,478 46,792 12,131 7.972 10,052 10,398 23,570 FEDERAL RESERVE MOTE STATE'MEiTI Federal reserve notes: 2,111,944 158,200 426,559 171,749 225,810 80,017 137,367 446,673 31,339 54,837 68,642 34,001 226,700 Issued to F.R.bank by F.R.Agent 8,45s 5,034 6,294 6,423 48,251 Held by Federal reserve bank 373.548 21,900 120,038 25,768 23,694 8,127 17,233 8 2,328 1,738,396 136,300 306,521 145,981 202,116 71,890 120,134 364,345 72,931 49,803 62,348 27,578 178,449 In actual circulation Collateral held by agent as se- « a a gg « curity for notes issued to bank & £•% Gold and gold certificates 612,334 35,300 1,321,230 114,617 61:0m Gold fund - F. R. Board 41,324 15,067 24,860 IS,344 20,507 16,821 12,578 7,37° 14,034 13,117 17,781 Eligible paper 222,597 20,783 2,156,161170,705 428,243 175,067 227,410 so,914 138,607 453,721 82,808 55,1^1 75,034 34,967 233,544 Total collateral 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 6 months Over 6 months Bills discounted 150,200 82,503 12,509 19,765 15.976 18,723 719 6 18,788 16,157 16,223 Bills bought in open market 103,341 52,l67 Certificates and bills 4l4,263 - 10,500 37,550 124,597 139.023 102,593 76 Municipal warrants 76 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis