H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEl5ME FOB THE PRESS Released for publication B-423 Friday morning, July 24; Federal Reserve Board not earlier. July 23, 1931. CONDITIO!? OF FEDERAL RESERVE BAHS The daily average volume of Federal reserve bank credit outstanding during the week ending July 22, as reported by the Federal reserve banks, was $953,000,000 which wa.s the sane as in the preceding week and a decrease of $24,000 ,000 compared with the corresponding wek in 1930. On July 22 total reserve bank credit amounted to $942,000,000, a decrease of $9,000,000 for the week. This decrease corresponds with decreases of $16,000,000 in money in circulation, $4,000,000 in member bank reserve balances and $2,000,000 in unexpended capital funds, etc., offset in part by decreases of $8,000,000 in monetary gold stock and $5 ,000,000 in Treasury currency. Holdings of discounted bills increased $16,000,000 at the Federal Reserve Bank of San Francisco, $2,000,000 at Atlanta and $20,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $3,000,000 and of Treasury notes $4,000,000 while holdings of U. S. bonds increased $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 22, 1931, were as follows: Increase or decrease s ince July 22 July 15 July 23 1931 1931 1930 (in millions of dollars) Bills discounted 182 Bills bought 67 United States securities 678 Other reserve bank credit 16 + 1 1 1 8^ & -- ? 84 +102 - 13 TOTAL RESERVE BAZEC CREDIT 942 - 9 - 4 Monetary gold stock 4,951 - 8* +428 7 Treasury currency adjusted 1,784" ' - 5 - 9 Money in circulation 4 , 7 9^ - 16* +385 Member bank reserve balances 2,432 - 4 Unexpended capital funds, 1 onmember deposits,etc. 454 - 2 + 31 *July 15 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 24,1931; not earlier. B-423a RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 22,1931. July 15.1931 July 23,1930 R E S O U R C ES Gold with Federal reserve agents . . .. 2,003,339 1,990,864 1,558,214 Gold redemption fund with U.S. Treasury 29,034 29,321 36,814 Gold held exclusively against F.R.notes 2,032,423 2,020,185 1,595,028 Gold settlement fund with F. R. Board . 463,011 464,413 601,767 Gold and gold certificates held by "banks 928,913 924,551 827,432 Total gold reserves 3,424,34? 3,409,149 3,024,227 Reserves other than gold 173,SO4 171,929 169,834 Total reserves 3,597,951 3,581,138 3,194,061 Non-reserve cash 7788,,889999 77,133 67,835 Bills discounted; Sec. by U.S. Government obligations . 78,204 59 , 997 59,629 Other bills discounted 103,398 101,806 130,941 Total bills discounted 181,502 161,803 190,570 Bills bought in open market b7,033 70,408 150,523 U. S. Government securities: Bonds . . . .. 189,946 185,781 42,750 Treasury notes . 46,242 49,760 260,835 Certificates and bills 441,813 442,312 272,554 Total U.S.Government securities 678,001 677,853 576,139 Other securities 7,174 11,093 7,323 Total "bills and securities . 933,810 921,157 924,555 Due from foreign banks 725 3,725 705 F. R, notes of other "banks 15,862 16,465 22,175 Uncollected items 448,044 566,211 553,600 Bank premises 58,913 58,834 59,572 All other resources 26,939 26,906 13,146 TOTAL RESOURCES 5,i6i,l43 5,251,569 4,835,649 L I A B I L I T I ES F. R. notes in actual circulation . . . 11,,773300,,775522 1,716,621 11,,335566,,118800 DDeeppoossiittss:: MMeemmbbeerr bbaannkk -- rreesseerrvvee aaccccoouunntt .. .. .... 2,431,802 2,435,530 2,432,086 Government 17,990 17,501 18,882 Foreign bank 58,481 56,159 5,760 Other deposits . 26,732 30,662 27,884 Total deposits 2,535,005 2,539,852 2,484,612 Deferred availability items 4k),44o 540,433 532,922 Capital paid in 160,796 166,844 169,882 Surplus 274,636 274,636 276,936 All other liabilities 13,514 13,183 15,117 TOTAL LIABILITIES 5,i6l,l43 5,251,569 4,835,649 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 84.3$ 84.1$ 83.2$ Contingent liability on bills purchased for foreign correspondents , 298,111 289,851 481,315 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FB1ERAL RESERVE BAMS OH JULY 22, 1931 R E S O U R C ES (in thousands of dollars) B-423b Total Boston Mew York Fhila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,003,339 159,917 4l6,919 loO.OOO 212,550 58,570 112,200 456,900 76,730 49,9^) 6l,000 22,350 215,763 Gold redenr.ticn fund with U.S.Treasury29,084 1,014 12,724 772 2,326 995 1,105 3,887 1,473 645 1,213 1,040 1,884 G-old held exclusively against ?v R. notes 2,032,423 160,931 429,643 160,778 214,876 59,565 H3,305 460,787 78,203 50,585 62,213 23,890 217,647 Gold settlement fund with F.R. Board 463,011 26,769 180,849 61,729 41,934 11,675 7,218 53,779 12,207 11,903 20,382 11,380 23,186 Gold and gold certif; held by banks 928.913 35,243 613.196 27,700 64.999 . 5,362 s,s4i 98,165 9,461 4,667 10,739 4,46o 41,080 Total gold reserves 3,424,347 222,943 1,228,688 250,207 321,809 76,602 129,364 612,731 99,871 67,155 93,334 39,730 281,913 Reserves other than gold 173,604 12,719 59,941 7,139 15,818 11,349 7,495 22,423 9,850 3,465 7,431 8,115 7,839 Total reserves 3,597,951 235,662 1,288,629 257,346 337,627 87,951 136,859 635,154 109,721 70,64o 100,765 47,845 289,752 Eon-reserve cash 78,899 9,899 25,463 3,528 4,250 3,989 5,620 9,171 5,062 1,596 1,906 3,464 4,951 Bills discounted: Secured "by U.S.Govt, obligations 78,204 3,490 12,901 5,209 9,555 1,952 621 4,235 3,831 575 1,159 358 34,318 Other bills discounted 103,398 4,684 10,280 11,388 7,397 15,477 12,917 7,662 5,455 3,779 7,956 10,848 5,555 Total bills discounted 181,602 8,174 23,131 16,597 16,952 17,429 13,538 11,897 9,286 4,354 9,115 11,206 39,873 Bills bought in open market 67.033 4,844 16,919 3,223 6,879 3,031 7,921 8,100 2,163 1,170 2,883 2,398 7,502 U. S. Government securities: Bonds 189,946 11,793 53,802 13,184 13,407 6,801 4,036 37,994 6,489 11,523 8,293 14,424 8,200 Treasury notes 46,242 1,503 5,550 4,627 11,567 423 3,830 2,012 3,938 612 1,111 555 10,454 Certificates and bills 441,813 39,866 110,183 36,662 47,111 24,334 14,518 55,326 19,989 15,623 29,673 15,151 33,377 Total U.S.Govt, securities 678,001 53,162 169,535 54.473 72,085 31,558 22,384 95,332 30,476 27,758 39,077 30,130 52,031 Other securities 7,174 300 3,215 560 400 220 ao 530 200 229 780 160 370 Total bills and securities 933,810 66 , 480 212,350 74,853 96,316 52,238 44,053 115,859 42,125 33,5H 51,855 43,894 99,776 Due from foreign banks 725 52 256 69 71 28 25 94 25 16 20 21 48 F. R. notes of other banks 15,862 225 4,083 187 1,098 l,46o 1,062 1,845 1,474 879 1,473 354 1,722 Uncollected items 448,044 49,610 120,135 41,331 43,436 32,356 12,003 55,985 18,953 9,246 25,047 14,477 25,465 Bank premises 58,913 3,458 15,2140 2,6I4 7,568 3,583 2,573 8,061 3,635 1,926 3,803 1,831 4,621 All other resources 26,939, 744 11,513 1.118 1,932 1,450 3,389 2,129 1,151 935 669 979 930 TOTAL RESOURCES 5,l6l,l43 366,130 1,678,169 381,046 1492,298 183,055 205,584 828,298 182,146 118,749 185,538 112,865 427,265 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL-RESERVE BANKS ON JULY 22, 1931 B-423C L I A B I L I T I ES (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kins. Cy. Dallas San Fran. F.R.notes in actual circulation 1,730,752 135,603 295,99s 145,888 198,96s 67,364 115,972 379,927 72,26s 49,623 63,393 27,471 177,777 Deposits: Member "bank - reserve account 2,431,202 l41,805 1,037,796 145,349 189,331 59,927 56,053 320,757 68,436 46,954 82,044 53,649 179.701 17,990 1,025 2,641 917 1,866 2,305 1,360 1,699 1,740 1,264 1,342 422 1,409 Government deposits 58,481 4,572 17,576 6,035 6,157 2,438 2,195 8,230 2,134 1,402 1,768 1,329 4,145 Foreign "bank 26.732 19 10.384 77 6,734 144 81 1,318 266 iqg 98 4l 7.372 Other deposits Total deposits 2,535,005 147,4a 1,113,397 152,373 204,088 64,814 59,689 332,004 72,576 49,818 85,252 55,941 192,627 44o,44o 49,838 114,942 38,863 43,659 31,851 11,333 54,919 20,653 8,443 23.533 15,480 26,376 Deferred availability items Capital paid in 166,796 11,836 4,336 16,735 15,696 5,676 5,132 19,633 4,812 2,939 4,219 4,216 ll,4l6 274,636 21,299 30,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 3,936 13,475 Surplus All other liabilities 13,514 J J1 3,371 117 916 736 2,051 1.379 1,275 732 339 821 594 5,161,143 366,130 1,673,169 381,046 492,29s 183,055 205,534 828,298 182,146 118,749 185,533 112,865 427,265 TOTAL LIABILITIES 84.3 83.3 91.1 86.3 83.8 66.3 77.9 89.2 75.8 71.0 57.8 57.4 78.2 Reserve ratio (per cent) Contingent liability on "bills purchased for foreign correspondents 293,111 22,300 98,59s 29,436 30,031 11,894 10,704 4o,i4o 10,407 6,339 8,623 8,920 20,219 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R-bank by F.R.Agent 2,135,9^5 lo2,4l6 430,635 170,711 226,635 75,014 131,992 465,474 86,304 54,380 67,193 33,911 231,280 405,193 26,813 134,637 24,823 27,667 7,150 16,020 85,547 14,036 4,757 3,800 6,440 53,503 Held by Federal reserve bank 1,730,752 135,603 295,998 145,888 198,968 67,864 115,972 379,927 72,268 49,623 63,393 27,471 177,777 In actual circulation Collateral held by agent as security for notes issued to bank 612,709 35,300 351,919 38,700 12,550 10,070 10,900 73,900 15,330 6,740 7,300 50,000 Gold and gold certificates 1,390,630 124,617 65,000 121,300 200,000 48:^500 101,300 333,000 6i,4oo 43,200 61,000 15,550 165,763 Gold fund - F. R. Board 210,063 12.960 24.467 14.913 20.540 19.107 20.209 15.130 9.787 4,630 10,749 12-450 45.116 Eligible paper Total collateral 2,213,402 172,877 441,386 174,91s 233,090 77,677 132,409 472,030 36,517 5'4,570 71,749 35,300 260,879 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days lo to 30 days 31 to 60 days 6l to 90 days 5 months Over 0 months Bills discounted 181,602 ' 111,950 12,963 21,769 21,902 12,656 352 Bills bought in open market 67,033 19,087 10,764 5,591 31,490 101 Certificates and bills 441,813 26,850 26,700 105,597 29,700 137,573 115,393 99 Municipal warrants 99 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis