H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication 3-443 Friday morning, Aug. 7; Federal Reserve Board, not earlier . August 6, 1931* COITDIT1011 OF FEDERAL RESERVE -BAMS The daily average Volume of Federal reserve bank credit outstanding during the week ending August 5« as reported "by the Federal reserve "banks, was $971,000,000, an increase of ''333,000,000 compared with the preceding week and a decrease of $17,000,000 compared with the corresponding week in 1930. On August 5 total reserve "bank credit amounted to $967,000,000, an increase of $22,000,000 for the week. This increase corresponds with increases of $63,000,000 in money ia circulation and $32,000,000 in unexpended capital funds, nonnieniber deposits, etc., offset in part by a decrease of $76,000,000 in member bank reserve balances and an increase of $2,000,000 in monetary gold stock. Holdings of discounted bills declined $9,000,000 at the Federal Reserve Bank of San Francisco and *2,000,000 at Boston, and increased $9,000,000 at lew York, $2,000,000 at Kansas City and $6,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $1,000,000 and of Treasury certificates and bills $7,000,000, while holdings of U. S- bonds increased $10,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending August 5, 1931, were as follows: Increase or decrease since Aug. 5 July 29 Aug. 6 1911 1931 1930 (In millions of dollars) Bills discounted 189 + 6 - 17 Bills bought 66 - 1 - 6s United States securities 631 + 3 + 105 Other reserve bank credit 32 + 14 + 7 TOTAL RESERVE BANK CREDIT 967 + 22 + 27 Monetary gold stock 4,955 + 2 + 462 Treasury currency adjusted 1,792 + 10 4,34s + 412 Money in circulation - 25 Member bank reserve balances 2,339 Unexpended caoital funds,nonmember deposits,e tc. 527 + 111 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, Aug. 7,193%; not earlier. B-443a RESOURCES MD LIABILITIES OF THE TWELVE FEDERAL RESERVE 3A2ES C0M3IEED (In thousands of dollars) Aug. 6.1931 July 29,1931 Aug. 6, 1930 R E S O U R C ES Gold with Federal reserve agents . . . 2,063,779 2,058,539 "1,55%,7%4 Gold redemption fund, with U.S.Treasury 29,983 29,923 36 ,8l6 Gold held exclusively against F.R.notes 2D93.762 2,088,522 1,588,530 Gold settlement fund with F. R. Board 447,519 4-10,496 555,602 Gold and gold certificates held "by banks 887,756 944,536 817,046 Total gold reserves 3,429,037 3,443,554 2,961,178 Reserves other than gold 165,76l 175,009 l65,b3% Total reserves 3,594,798 3,618,563 3,126,809 lion-reserve cash 73,019 79,086 63,436 Bills discounted: Sec. by U.S. Government obligations 69,901 7%,883 65,599 Other bills discounted 118,674 111,153 l4p,324 Total bills discounted . . .. 188,575 183,036 205,923 Bills bought in open market 66,074 66,536 133,57% U. S. Government securities: Bonds 216,878 206,723 49,650 Treasury notes 43,242 43,242 278,307 Certificates and "bills 420, ^11 *128,012 2hS, 267 Total U.S.Government securities 680,o31 677,977 576,224 Other securities 6,302 7,246 7,272 Total bills and securities 94l,582 934,795 922,99° Dae from foreign banks 10,725 7 26 705 F. R. notes of other banks 16,078 16,364 19,064 Uncollected items 42b,158 415,289 503,728 Bank premises 58,920 58,9%5 59,584 All other resources . . . . . . . .. 29,389 28,071 14,442 TOTAL RESOURCES 5,150,669 5,151,809 4,710,758 L I A B I L I T I ES F.R. notes in actual circulation . . . 1,772,672 %,735*501 1,338,774 Deposits: Member bank - reserve account . . . 2,339,%35 2,414,734 2,3°3,852 Government 12,l6l 13,385 31,5%9 Foreign bank 132,377 100,435 5,755 Other deposits . . .. 26,774 26,043 22,280 Total deposits 2,510,447 2,551*,597 2,423,4o6 Deferred availability items 411,380 405,755 487,054 Capital paid in 166,849 1(\7.442 169,680 Surplus 274,636 274,636 276,936 All other liabilities l4,685 13,878 14,908 5,150,669 TOTAL LIABILITIES . . .. 5,%5%,809 4,710,758 Ratio of total reserves to deposit and F. R. note liabilities combined . . 83.9$ 84.370 83.170 Contingent liability on bills purchased for foreign correspondents . .. . 225,852 253,578 483,454 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A2TD LIABILITIES OF THE FEDERAL RESERVE BA1TKS OH AUGUST 5, 1931 R E S O U R C ES (in thousands of dollars) B-443b Total Boston Now York Phila. Clove. Rich. Atlanta Chicago St. Louis Minn. Kans.Qy. Dallas San Fran Gold with Federal reserve agents 2,053,779 159,917 453,059 170,000 212,550 58,570 109,900 476,900 74,330 4q,94o 6l,000 21,850 215,763 Gold redemption fund with U.S.Treasury 29,983 1,014 12,723 1,778 2,290 995 1,077 3.871 1,467 643 1,209 1.038 1,873 Gold held exclusively against F. R. notes 2,093,762 160,931 465,782 171,778 214,S4o 59,565 110,977 480,771 75.797 50,533 62,209 22,388 217.641 Gold settlement fund with F.E. Board 447,519 33,531 113,190 51, 214 49,221 15,142 12,09s 59,12b 15,905 14,359 21,219 13,639 48,805 Gold end gold ccrtif. held by "banks 8^7.756 35,295 570,271 30,056 65,495 5.183 8,830 102,520 9,286 4,954 9,838 4,534 4i,494 Total gold reserves 3,429,037 229,757 1,149,243 253,048 329,556 79,890 131,905 642,417 100,988 69,906 93,256 4i,o6i 305,000 Reserves other than gold 165,761 13,809 49,334 8,746 15,211 11,039 5,351 24,113 9,589 3.755 7,144 3,153 7, Sc 2 Total reserves 3.594,793 243,566 1,198,627 261,794 344,767 90,929 135,756 656,530 110,577 73,551 100,410 49,219 315,862 lion-re servo cash 73,019 9,239 22,810 3,567 3,930 3,869 4,615 9,392 4,607 1,315 1,557 3,621 4,497 Billy discounted: Secured "by U.S.Govt, obligations 59,901 2,667 23,843 5,189 8,653 1,752 556 6,094 3,526 572 879 359 l4,596 Other "bills discounted 118,674 4,6o4 12,262 11,344 8,826 16,479 16,402 8,898 5,027 4,124 11,180 12,208 5,820 Total "bills discounted 188,575 7,271 36,105 18,033 17,484 18,231 17,053 14,992 9,553 4,796 12,059 12,577 20,4I6 Bills "bought in open market 65,074 5,327 25,973 3,412 5,442 2,347 4,374 7,471 1,891 1,188 2,lo0 1,468 5,021 U. S. Government securities: Bonds 216,87s 13,723 62,232 17,521 15,691 7,921 4,712 40,707 7,463 12,153 9,730 15,165 9,76o Treasury notes 43,242 1,203 5,017 4,373 11,212 248 3,718 1,591 3,84b 495 887 44o 10,212 Certificates and "bills 420,511 38, 236 102,286 35,279 45,182 23,388 13,903 53,034 19,167 14,992 28,460 14,525 32.059 Total U.S.Govt, securities 620,631 53,162 169,535 57 , 273 72,085 31,557 22,333 95,332 30,476 27.640 39,077 30,130 52,031 Other securities 6.302 250 2,54o 710 350 185 175 455 200 182 780 160 315 Total bills and securities 941,532 55,010 234,153 79,428 95,361 52,320 43,9k) 118,250 42,120 33,So6 54,075 44,335 77,783 Dae fror. foreign banks 10,725 55 10,238 72 73 29 26 98 25 17 21 22 49 F. R. notes of other banks 16,07s 253 5,375 348 1,185 1,538 724 2,122 1,137 917 914 270 1,295 Uncollected items 426,15s 50,288 116,462 k),83l 40,327 30,925 11.277 49,392 18,130 7,651 24,542 13,064 23,259 Bank promises 52,920 3,458 15,240 2,6I4 7,575 3,583 2,573 8,061 3.635 1,926 3,803 1,831 4,621 All other resources 29,38 9 831 13,432 1,328 2,009 1,552 3,117 2,176 1,181 1,043 717 987 1,016 TOTAL RESOURCES 5,150,559 373,700 1,616,337 339,982 495,227 184,745 205,028 856,021 181,512 120,346 186,o4o 113,349 428,382 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OP THE FEDERAL RESERVE BANKS Oil AUGUST 5, 1931 B-443c L I A 3 II IT I SS (In thousands of dollars) Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. DalLas San Fran. P.R.notes in actual circulation 1,772,672 137,894 322,194 146,970 198,374 67,235 114,525 391,199 72,237 50, aS 63,571 27,006 181,246 Deposits: 2,339,135 142,062 979,556 145,594 191,4o4 61,310 56,250 334,106 67,631 4s,oo4 81,603 54,449 176,666 Member bank - reserve account 12,161 704 2,115 1,793 96s 1,802 94 2,117 1,305 655 339 3 266 Government 132,377 10,108 41,943 13,343 13.612 5,391 4,852 18,195 4,717 3,100 3,90s 4,o43 9,165 Foreign tank Other deposits 26,774 46 11,470 124 6,540 118 95 744 280 170 44 59 7,084 2,510.447 152,920 1,035,084 160,854 212,524 69,121 61,291 355,162 73,933 51.929 85,894 52,554 193,181 Total deposits 411,380 49,583 109,306 38,201 38,685 29,852 11,100 48,053 18,708 7.313 23,24s 13,889 23,442 Deferred availability items 166,349 11,836 64,351 16,735 15,709 5,670 5,185 19,724 4,804 2,986 4,218 4,216 11,415 Capital paid in 274,636 21,299 80,575 27,065 28,971 I2,ll4 10,857 39,936 10,562 7.144 8,702 8,936 18,475 Surplus All other liabilities 14,685 168 4,827 157 964 753 2,067 1,947 1,268 756 407 748 623 5,150,669 373,700 1,616,337 389,982 495,227 184,745 205,028 85b,021 181,512 120,346 136,o4o 113,349 423,382 TOTAL LIABILITIES Reserve ratio (per cent) S3.9 83.8 88.3 85.0 83.9 66.7 78.9 89.3 75.7 72.1 57.2 57.5 84.4 Contingent liability on bills purchased for foreign correspondents 16,955 74,159 22,381 22,833 9,043 8,139 30,519 7,912 5,200 6,556 6,782 15,373 225,852 FEDERAL RESERVE 1T0TE STAT3MEE! Pederal reserve notes: Issued to F.R.bank by P.R.agent 2,199,250 161,556 474,808 177,181 225,547 74,664 129,707 483,347 83,302 54,713 67,22s 33.379 233.318 Held by Federal reserve bank 426,578 23,662 152,614 30,211 27,173 7,429 15,179 9 2,148 11,565 4,495 3,657 6,373 52,072 1,772,672 137,894 322,194 146,970 198,374 67,235 114,528 391,199 72,237 50,218 63,571 27,006 181,246 In actual circulation Collateral held by agent as security for notes issued to bank Gold and gold certificates 653,649 35,300 398,059 38,700 12,550 10,070 10,900 73.900 15,130 6,740 - 7,300 50,000 Gold fund - F. R. Board 1,405,130 124,617 55,000 131,300 200,000 43,500 99,000 403,000 59,200 43,200 61,000 14,550 165,763 Eligible paper 204,351 9,955 39.327 16,023 19,336 19,151 20,101 17,338 9,682 5,101 12,907 12,359 23,071 Total collateral 2,268,630 169,872 492,336 186,023 231,386 77,721 130,001 494,23s 84,012 55,o4l 73,907 34,709 233,334 MATURITY DISTRIBUTION OF BILLS AIID SHORT TER!.' SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over o months 6 months Bills discounted 183,575 113,389 13,542 29,650 22,008 9,504 432 Bills bought in open market 66,074 26,030 5,315 27,567 7,127 35 Certificates and bills 420,511 18,700 23,425 67,271 45,450 137,373 128,292 Municipal warrants 52 10 42 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis