H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released, for publication B-418 Friday morning, July 17; Federal Reserve Board not earlier. July 16, 1931. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending July 15, as reported by the Federal reserve banks, was $953,000,000, a decrease of 518,000,000 compared with the preceding week and of $61,000,000 compared with the corresponding week in 1930. On July 15 total reserve bank credit amounted to $951,000,000, a decrease of $9,000,000 for the week. This decrease corresponds with decreases of $28,000,000 in money in circulation and 04,000,000 in mombur bank reserve balances, offset in part by decreases of $5,000,000 each in monetary gold stock and Treasury currency and an increase of $14,000,000 in unexpended capital funds, ctc. Holdings of discounted "bills declined $3,000,000 at the Federal Reserve Bank of San Francisco and $2,000,000 at New York and increased $2,000,000 at St. Louis, all Federal reserve banks combined showing a small decrease for the week. The System's holdings of bills bou^t in open market declined $22,000,000 and of Treasury notes $2,000,000, while holdings of U. S. bonds increased $3,000,000 and of Treasury certificates and bills $9,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 15, 1931, were as follows: Increase or decrease since July 15 July 8 ' July l6 1931 1931 1930 (in millions of dollars) Bills discounted 162 - 45 Bills bought 70 - 22 - 99 United States securities 678 + 10 + 101 Other reserve bank credit 4l +3 TOTAL RESERVE BANK CREDIT 9 - 49 Monetary gold stock 5 + 417 Treasury currency adjusted 5 - 7 Money in circulation - 28 + 359 Member bank reserve balances - 4 - 24 Unexpended capital funds,nonmeriber deposits,etc + i4 + 28 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, July 17,1931; not earlier. B-4lSa RESOURCES JfflD LIABILITIES OF THE TWELVE FEDERAL RESERVE BASKS COMBINED (in thousands of dollars) July 15.1931 July 8.1931 July lb. 1910 R E S O U R C ES Gold with Federal reserve agents . . .. 1,990,864 1,964,764 1,572,914 Gold redemption fund with U.S. Treasury 29,321 29,616 36,714 Gold held exclusively against F.R.notes 2,020,185 1,994,320 1,609,628 Gold settlement fund with F. R. Board . 464,413 429,921 583,052 Gold and gold certificates held by banks 924,551 943,6o4 338,065 •Total gold reserves 3,409,149 3,427,905 3,030,745 Reserves other than gold . . . . . . .. 171,939 164,042 166,490 Total reserves . . . .. 3,581,138 3,591,947 3,197,235 ITon-rescrve cash 7777,,113333 68,713 68,547 Bills discounted: Sec. by U.S. Government obligations . 59,997 59,787 70,357 Other bills discounted 101,806 102,599 136,673 Total bills discounted . . . 161,803 162,386 207,030 Bills bought in open market 7700,,44oo88 91,788 168,667 U. S. Government securities: Bonds 185,781 183,393 42,900 Treasury notes 49,760 51,74s 243,690 Certificates and bills 442,312 432,812 290,522 Total U.S. Government securities 677,853 667,953 577.HS Other securities 11-,093 9,975 7,301 Total bills and securities . . . 932,102 960,116 921,157 Due from foreign banks 3,725 3,726 705 F. R. notes of other banks 16,465 14,201 22,169 Uncollected items . . . . .. 566,211 492,736 670,370 Bank premises 58,834 58,834 59,561 All other resources 26,906 25,999 12,596 TOTAL RESOURCES 5,251,569 5,194,258 4,991,299 L I A B I L I T I ES F.R. notes in actual circulation . . . 11,,771166,,662211 11,,773366,,992222 11,,338822,,334499 Deposits: Member bank - reserve account . . .. 2,435,530 2,439,578 2,460,457 Government 16,060 16,629 17,501 Foreign bank 56,159 39,575 6,247 Other deposits 30,662 31,833 32,924 Total deposits 2,539,852 2,527,346 2,516,257 Deferred availability items 540,433 474,368 631,545 Capital paid in 166,844 167,979 169,434 Surplus 274,636 274,636 276,936 All other liabilities 13,183 13,007 14,728 TOTAL LIABILITIES 5,251,569 5,19^,258 4,991,299 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 84.156 84.2# 82.0$ Contingent liability on bills purchased for foreign correspondents 289,851 302,020 478,082 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES 0? THE FEDERAL RESERVE BANKS ON JULY 15, 1931 R E S O U R C ES (In thousands of dollars) B-4l8b Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold, with Federal reserve agents 1,990,864 159,917 4o6,919 160,000 207,550 58,570 115,100 456,900 77,330 49,465 61,000 22,350 215,763 Gold redemption fund with U.S.Treaswy 29v3a 1.04l 12,787 821 2.325 1,100 1,105 3,887 1,473 645 1,213 l,04p 1,884 Gold held exclusively against F. R. notes 2,020,185 l6o,958 4l9,7o6 l6o,821 209,875 59,670 116,205 460,787 78,803 50,110 62,213 23,390 217,64? Gold settlement fund with F.R. Board 464,413 23,325 162,905 65,634 48,424 l4j43 8,202 51,215 10,912 10,949 18,601 12,327 37,576 Gold and gold certif. held by banks 924,551 34,612 6l7,4lS 27,488 65,763 5,137 8,522 95,681 9,602 4,732 10,099 4,445 41,052 Total gold reserves 3,4o9,l49 218,895 1,200,029 253,943 324,062 79,150 132,929 607,683 99,317 65,791 90,913 40,162 296,275 Reserves other than gold 171,989 12,890 58,256 6,759 15.846 11.072 7.827 22,14? 9,654 3,639 7,666 8,543 7.690 Total reserves 3,581,138 231,785 1,258,285 26o,702 339,908 90,222 l4o,756 629,830 108,971 69,430 98,579 48,705 303,965 Son-reserve cash 77,133 9,326 26,0U 3,555 3,188 3,705 5,192 9,129 4,921 1,778 1,829 3,518 4,981 Bills discounted: Secured by U.S.Govt, obligations 59,997 3,642 13,364 4,810 7,447 1,982 626 4,027 3,840 243 860 333 18,823 other bills discounted 101,806 4,934 10,866 10,488 8,088 15,253 11,387 7,643 5,349 3,680 8,553 10,176 5,389 Total bills discounted 161,803 8,576 24,230 15,29s 15,535 17,235 12,013 11,670 9,189 3,923 9,413 10,509 24,212 Bills bought in open market 70,408 4,775 17,907 2,922 7,686 3,i6o 8,026 8,274 2,805 1,884 4,o6l 2,583 6,325 U. S. Government securities: Bonds 185,781 11,450 52,643 12,882 12,992 6,62s 3,823 37,493 6,311 11,314 8,038 14,29s 7,909 Treasury notes 49,760 1,745 7,049 4,831 11,852 56s 3,921 2,350 4,119 725 1,291 661 10,548 Certificates and bills 442,312 39,762 111,581 36,534 46,959 24,362 i4,44o 55,108 19,919 15,642 29,593 15,171 33,241 Total U.S.Govt, securities 677,853 52,957 171,273 54,247 71,803 31,558 22,184 94,951 30,349 27,681 38,922 30,130 51,798 Other securities 11,093 4oo 6,520 690 490 220 210 • 670 200 298 780 160 455 Total bills and securities 921,157 66,708 219,930 73,157 95,51% 52,173 42,433 115.565 42,543 33.786 53,176 43,382 82,790 Dae from foreign banks 3,725 52 3,256 69 J1 28 25 94 25 l6 20 21 48 F. R. notes of other banks 16,465 ZL5 5,^1 158 1,091 1,596 931 1,927 898 823 1,585 256 1,524 Uncollected items 566,211 66,028 166,450 48,184 53,331 39,936 14,681 68,836 0,165 10,417 27,396 18,424 29,363 ? rm x s es 58,834 3,45s 15,240 2,614 7,489 3,583 2,573 8,061 3,635 1,926 3,803 1,831 4,621 All other resources 26,906 748 11,546 1,096 1,893 1,439 3,278 2,199 1,163 952 671 975 9% TOTAL RESOURCES 5,251,569 378,320 1,706,179 389,535 502,485 192,682 209,869 835,641 185,321 119,12s 187,059 117,112 428,238 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH .JULY 15, 1931 L I A B I L I T I ES (In thousands of dollars) B-418 Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran*": F.R.notes in actual circulation 1,716,621136,677 285,422145,769200,285 68,970 117,009 373,815 73,093 49,857 62,973 27,012 175,739 Deposits: Member bank - reserve account 2,435,530 137,845 1,084,654 147,3a 190,723 62,212 57,403 322,883 67,522 46,445 82,016 54,200 182,306 Government deposits 17»501 1,231 2,301 1,136 1,647 2,34s 1,498 2,190 1,009 679 1,462 1,373 627 Foreign bank 56,159 3,863 21,595 5,ioo 5,203 2,060 1,854 6,954 1,803 1,185 1,494 1,545 3,503 Other deposits 30.662 128 19,819 86 2,000 104 113 1.490 262 192 59 55 6.354 Total deposits 2,539,852 143,067 1,128,369 153,643 199,573 66,724 60,868 333,517 70,596 48,501 85,031 57,173 192,790 Deferred availability items 540,433 65,323 143,694 46,227 57,086 38,453 13,907 66,870 25,007 9,885 25,747 18,997 29,237 Capital paid in 166,844 11,836 64,393 16,735 15,672 5,690 5,188 19,644 4,812 2,997 4,222 4,237 11,418 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 13,183 118 3,726 96 898 731 2,o4O 1,859 1,251 744 384 757 579 TOTAL LIABILITIES 5,251,569 378,320 1,706,179 389,535 502,435 192,682 209,869 835,641 185,321 119,128 187,059 117,112 428,238 Reserve ratio.:(per cent) 84.1 82.9 89.0 87.1 85.0 66.5 79.1 89.0 75.8 70.6 66.6 57.9 82.5 Contingent liability on bills purchased for foreign correspondents 289,851 21,830 94,545 28,816 29,398 11,643 10,478 39,294 10,187 6,694 3,44i 8,732 19,793 WSWlAL RT1FPTR7E HOTE STAT^#TT Federal reserve notes! Issued to F.R.bank by F.R.Agent 2,134,963 161,874 425,853 172,510 226,755 76,168 133,485 463,110 87,883 54,138 63,162 33,502 231,523 Held by Federal reserve bank 418,342 25,197 l4o,43l 26,741 26,470 7,198 16,476 89,295 14,790 4,281 5,189 6,490 55,784 In actual circulation 1,716,621 136,677 285,422 145,769 200,285 68,970 117,009 373,815 73,093 49,857 62,973 27,012 175,739 Collateral held by agent as security for notes issued to bank Gold and gol& certificates 612,734 35,300 351,919 38,700 12,550 10,070 10,900 73,900 15,330 6,765 - 7,300 50,000 Gold fund - F. R. Board 1,378,130 124,617 55,000 121,300 195,000 48,500 104,200 383,000 62,000 42,700 61,000 15,050 165,763 Eligible paper 196,431 13,292 27,134 13,948 20,183 19,062 18,898 15,493 10,568 5,013 12,322 12,037 28,481 Total collateral 2,187,295 173,209 434,053 173,948 227,733 77,632 133,998 472,393 87,898 54,478 73,322 34,387 244,244 MATURITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days ^ ^ h s° Over 6 months Bills discounted 161,803 93,597 13,672 20,157 19,528 i4,4s6 363 Bills bought in open market 70,408 21,373 11,710 8,568 28,682 75 Certificates and bills 442,312 20,500 12,850 54*125 97,171 142,273 115,393 Municipal warrants 93 93 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis