H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released, for publication B-433 Friday monring, July 31; Federal Reserve Board not earlier. July 30, 1931 CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending July 29, as reported by the Federal reserve banks, was $§38,000,OOQ a decrease of $15,000,000 compared with the preceding week and an increase of $4,000,000 compared with the corresponding week in 1930. On July 29 total reserve bank credit amounted to $945,000,000, an increase of $3,000,000 for the week. This increase corresponds with an increase of $41,000,000 in unexpended capital funds, nonmember deposits, etc., offset in part by decreases of $14,000,000 in money in circulation and $17,000,000 in member bank reserve balances and increases of $2,000,000 in monetary gold stock and $5,000,000 in Treasury currency, adjusted. Holdings of discounted bills declined $11,000,000 at the Federal Reserve Bank of San Francisco, and increased $4,000,000 at New York, $2,000,000 each at Atlanta and Chicago and $1,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market were practically unchanged, while holdings of U. S. bonds increased $17,000,000 and holdings of Treasury notes and certificates and bills declined $3,000,000 and $14,000,000, respectively. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 29, 1931» were as follows: Increase or decrease since July 29 July 22 July 30 1931 1931 1930 (In millions of dollars) Bills discounted 183 + 1 - 14 Bills bought 67 - 64 United States securities 67s +102 Other reserve bank credit 18 + 2 - 5 TOTAL RESERVE BANK CREDIT 945 + 3 + 18 Monetary gold stock 4,953 + 2 +438 Treasury currency adjusted 1,792 +5* + 7 Money in circulation 4,780 -14* +384 Member bank reserve balances 2,415 -17 Unexpended capital funds,nonmember deposits,etc 495 +4i + 79 *July 22 figures revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 31, 1931? %ot earlier B-433& RESOURCES AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE 3ABCS COM3 IKED (In thousands of dollars) July 29. 1931 July 22. 1931 July 36.1930 R E S O U R C ES Gold with Federal reserve agents 2,058,539 2,003,339 1, 553, 2l4 Gold redemption fund with U.S.Treasury . , 29.931 29.084 36,8l4 Gold held exclusively against F.R.notes. 2,088,522 2,032,423 1,590,028 Gold settlement fund with F. R. Board . . 4l0,496 463,011 589> 700 Gold and gold certificates held "by banks . 944,536 928,913 825,254 Total gold reserves 3,443,554 3,424,34? 3,004,982 Reserves other than gold . . 175.009 173,6o4 173,206 Total reserves 3,618,563 3,597,951 3,178,188 Non-reserve cash 79,086 78,899 68,210 Bills discounted: Sec. by U.S. Government obligations . . 71,883 78,204 66,676 Other bills discounted Ill,153 103,398 130,425 Total bills discounted 183,036 181,602 197,101 Bills bought in open market 66,536 67,033 130,762 U. S. Government securities: , . Bonds 20b,723 189,946 49,714 Treasury notes 43,242 46,242 276,897 Certificates and bills 428.012 44l,813 249,757 Total U.S.Government securities . . . 677,977 678,001 576,368 Other securities 7,246 7,174 7,323 Total bills and securities . . .. 934,795 933,810 911,554 Due from foreign banks 726 725 706 F. R. notes of other banks 16,364 15,862 18,912 Uncollected items 415,289 448,044 510,430 Bank premises 58,915 58,913 59,584 All other resources 28,071 26,939 l4,037 TOTAL RESOURCES 5,151,809 5,l6l,l43 4,761,621 L I A B I L I T I ES F.R. notes in actual circulation 1,735,501 1,730,752 1,335,l4l Deposits: Member bank « reserve account 2,4l4,734 2,431,802 2,415,285 Government . , 13,385 17,990 26,l46 Foreign bank 100,435 58,481 6,434 Other deposits 2'6.043 26,732 21,006 Total deposits 2,554,597 2,535,005 2,468,871 Deferred availability items 405,755 440,440 495,807 Capital paid in 167,442 166,796 169,7l6 Surplus 274,636 274,636 276,936 All other liabilities 13,878 13»5l4 15,150 TOTAL LIABILITIES 5,151,809 5,l6l,l43 4,761,621 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 84.3/? 84.3$ 83.5? Contingent liability on bills purchased for foreign correspondents 253,578 298,111 478,027 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES 11® LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 29 1931 R E S O U R C ES (In thousands of dollars) B-433"b lotal Boston New York Phila. CI eve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,058,539 159,91? 456,919 170,000 212,550 58,570 110,200 466,900 74,930 49,9^) 61,000 21,850 215,763 ^edemp-L-n fund with U.S.Treasury 29,983 l,0l4 12,724 1,778 2,290 995 1,077 3,871 1,467 643 1,208 1,038 lS fj t Gold held exclusively against F. R. notes 2,088,522 l60,931 469,643 171,778 214,840 59,565 111,277 470,771 76,397 50,583 62,208 22,888 217,64l Gold settlement fund withF.R. Board 410,496 21,701 138,021 49,810 43,710 11,650 7,608 50,840 10,728 12,586 17,749 11,343 34,750 uold and gold certif. held by tanks 944,53 6 3 5,238 630,059 28,535 64,880 5,495 9,288 100,635 9,583 4,542 10,8q4 4,473 40,974 Total gold reserves 3,443,554 217,870 1,237,753 250,123 323,430 76,710 122,173 622,246 96,70s 67,711 90,761 38,704 293,365 Reserves other than gold 175,009 13,408 56,938 7,6l4 15,355 ll.UOl 7,774 23,875 10,076 4,072 7,818 8,60? 8,071 Total reserves 3,618,563 231,278 1,294,691 257,737 338*785 88,111 135,94? 646,121 106,784 71,733 98,579 47,311 301,436 79,086 9,328 25,537 3,478 3,985 4,021 5,752 9,202 5,104 1,719 1,799 3,995 4,666 ; ;g , ; g a , ,a a a ,s „ .g %-z : : Total bills aiscoifflted 153,036 9,376 26,545 17,055 16,262 17,785 16,008 13,636 9,724 4,667 10,34o 12,241 29,097 66,536 4,845 23,502 3."06 6,071 2,216 6,689 7,770 1,738 1,083 2.366 1,682 5,16s Si m ,ifi gg ;g 11 is *g ::- i:s as Total U.S.Govt, securities 677,977 53,162 169,535 54,473 72,085 31,558 22,302 95,332 30,476 27,816 39,077 30,130 52,031 Other securities 7,246 300 3,240 560 400 220 210 530 200 2?6 780 l60 370 Total bills and securities 934,795 67,683 223,122 75,494 94,818 51,779 45,209 117,268 42,138 33,842 52,563 44,213 86,666 Ihiefrom foreign tanks 726 52 257 69 71 28 25 94 25 l6 20 21 43 e E E" II '1 ill i i i 1 j g j *g #; TOTAL RESOURCES 5,151,809 365,123 1,687,075 378,o4i 489,196 181,380 204,145 834,956 178,076 118,835 181,058 110,892 423,032 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES Mi) LiAb^LiTIES Ui1 1'iiisj PZUjiiHAL RESERVE BAltiKS ON JU1Y 29, 1931 L I A B I L I TI E S (In thousands of dollars) Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cf. Dallas San Fran. FF..RR..nnootteess iinn aaccttuuaall cciirrccuullaattiioonn 1,735,501 136,168 304,566 145,693 198,885 67,016 114,553 382,424 71,729 49,094 63,063 26,790 175,520 DDeeppoossiittss:: MMeemmbbeerr bbaannkk -- rreesseerrvvee aaccccoouunntt 2,4i4,734 137,436 1,070,036 144,630 188,147 60,113 56,584 328,361 67,394 48,667 80,189 53,485 179,692 Government deposits 13,385 374 ,, 517 624 1,171 2,764 1,619 1,766 753 789 840 1,282 886 Foreign bank 100,435 5,979 46,941 7,893 8,052 3,189 2,870 10,763 2,790 1,833 2,312 2,392 5,421 Other deposits 26,043 105 10,408 75 6,634 91 93 829 236 197 60 36 7,279 Total deposits 2,554,597 143,894 1,127,902 153,222 2O4,OO4 66,157 61,166 341,719 71,173 51,486 83,401 57,195 193,278 Deferred availability items 405,755 51,734 105,694 35,188 4o,707 29,678 10,329 48,64i 18,521 7,367 21,274 12,890 23,732 Capital paid in 167,442 11,836 64,358 16,735 15,696 5,670 5,182 20,318 4,808 2,988 4,219 4,216 ll,4i6 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 13,878 192 3,980 138 933 745 2,058 1,918 1,283 756 399 865 611 TOTAL LIABILITIES 5,151,809 365,123 1,687,075 378,o4i 489,196 181,380 204,1U5 834,956 178,076 118,835 181,058 110,892 423,032 Reserve ratio (per cent) 84.3 82.6 90.4 86.2 84.1 66.2 77.4 89.2 74.7 71.4 67.3 56.3 81.7 Contingent liability on "bills purchased for foreign correspondents 253,578 20,081 73,916 26,508 27,043 10,710 9,639 36,147 9,371 6,158 7,765 8,033 18,207 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank "by F.R.agent 2,181,235 163,236 460,625 179,098 226,518 75,117 131,229 473,475 84,6io 54,469 67,767 33,641 231,450 Held by Federal reserve bank 445,73% 27,068 156,059 33,405 27,633 8,101 16,676 91,051 12,881 5,375 4,704 6,251 55,930 In actual circulation 1,735,501 136,168 304,566 145,693 198,885 67,016 114,553 352,424 71,729 49,094 63,063 26,790 175,520 Collateral held by agent as security for notes issued to bank Gold and gold certificates 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 fund - F. R. Board i;445,S30 124,617 105,000 131,300 200,000 48,500 99,300 393,000 59,600 43,200 61,000 14,550 165,763 Eligible paper 204,222 14,163 29,892 l4,626 18,849 18,427 21,382 16,289 9,703 4,829 11,392 12,768 31,902 Total collateral 2,262,761 174,080 486,811 184,626 231,399 76,997 131,582 483,189 84,633 54,769 72,392 34,618 247,665 MATURITY DISTRIBUTION OF BILLS AND SEORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 60 days 6l to 90 days Over 6 months 6 months Bills discounted 183,036 110,015 13*160 23,942 22,559 12,874 486 Bills bought in opon market 66,536 21,782 7,821 4,303 32,532 98 Certificates and bills 428,012 12,850 25,700 103,595 29,700 136,374 119,793 Municipal warrants 146 99 5 42 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis