H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS B-470 Released for publication Federal Reserve Board Friday morning, Aug. 28; August 27, 1931 not earlier. CONDITION OF FEDERAL RESERVE BAFKS The daily average volume of Federal reserve Dank credit outstanding during the week ending August 26, as reported "by the Federal reserve banks, was $1,175,000,000, an increase of $60,000,000 compared with the preceding week and of $192,000,000 compared with the corresponding week in 1930. On August 26, total reserve "bank credit amounted to $1,199,000,000, an increase of $58,000,000 for the week. This increase corresponds with increases of $42,000,000 in money in circulation and $14,000,000 in unexpended capital funds, etc., and a decrease of $51,000,000 in Treasury currency, adjusted, offset in part by a decrease of $40,000,000 in member bank reserve balances and an increase of $9,000,000 in monetary gold stock. Holdings of discounted bills declined $3,000,000 at the Federal Reserve Bank of Kansas City and increased $10,000,000 at Mew York, ^2,000,000 e&ch at Chicago and San Francisco, and $11,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $26,000,CO.• and of U. S. bonds $45,000,000, while holdings of Treasury certificates and bills declined $40,000,000 and of Treasury notes $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending August 26, 1931, were as follows: Increase or decrease since Aug. 26 Aug. 19 Aug. 27 1931 1931 1930 (In millions of dollars) Bills discounted 242 + 11 + 49 + 26 Bills bought 181 + 18 United States securities 728 +126 Other reserve bank credit 49 + 22 + 24 TOTAL RESERVE BkW. CREDIT 1,199 + 58 +215 Monetary gold stock 4,992 +489 Treasury currency adjusted 1,720 - 51 - 70 Money in circulation 4,994 + 42 Member bank reserve balances 2,342 - 4o Unexpended capital funds,nonmember deposits,etc . 575 + 14 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 28,1931; not earlier. B-4/0a RESOURCES Al-TD LIABILITIES OF IKE TwELVE PUBERAL RESERVE BANKS COMBINED (In thousands of dollars) Aug. 26,1^31 Aug. lq.iqll Aug.27,1930 R E S O U R C ES Gold with Federal reserve agents 2,152,013 2,124,088 1,575,256 Gold redemption fund with IJ. S. Treasury . 29,889 29,999 35,919 Gold held exclusively against F.R.notes 2,151,902 2,154,087 1,611,175 Gold settlement fund with F. R. Board . . 441,211 434,736 568,304 Gold and gold certificates held by banks . 862,433 884,038 776,453 Total -old reserves 3,455,546 3 , 472,861 2,955,932 Reserves other than gold 172,213 169,727 163,721 Total reserves 3,657,759 3,642,583 3,119,653 Non-reserve cash , 72,111 74,042 70,310 Bills discounted: Sec. by U.S. Government obligations 98,782 93,642 62,197 Other bills discounted 136,367 131,07s 142,936 Total bills discounted . . . . 241,71s 230,609 193,275 Bills bought in open market ISO,51s 154,628 163,274 U. S. Government securities: Bonds 291,977 247,342 75,827 Treasury notes . .. 32,297 36,241 302,045 Certificates and bills 403,724 444,307 224,041 Total U.S. Government securities 727,830 601,913 727,992 Other securities 6,402 5,102 8,572 Total bills and securities . . 1,156,636 1,118,229 967,034 Due from foreign banks 38,373 10,749 702 F. R. notes of other banks 16,010 16,889 19,240 Uncollected items 407,424 462,236 505,962 Bank premises . . . . 58,962 59,609 59,083 All other resources 33,462 32,636 16,733 TOTAL RESOURCES . . . 5,440,863 5,416,391 4,759,243 L I A B I L I TI F. R. notes in actual circulation . 1,945,507 1,301,844 1,337,24s Deposits: Member bank - reserve account . . 2,382,236 2,341,993 2,418,375 Government , 8'2,6O4 28,923 25,988 Foreign bank 182,921 163,4oS 5,549 Other dencsits . . 26,812 26,617 19,657 Total de-posits 2,534,335 2,606,244 2,470,069 Deferred availability items 403,634 450,61s 489,7SX Capital paid in . . . .. . 167,134 167,233 163,765: Surplus 274,636 274,636 276,936, All other liabilities . . . 15,557 15,315 15,444 TOTAL LIABILITIES 5,4lio,s63 5, HlS, 391 4,759,243. Ratio of total reserves to deposit and F. R. note liabilities combined . . . 19'S% SO.5 81.9 $ Contingent liability on bills purchased for foreign correspondents 229 , 9 70 226,731 471,522 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE BAiTKS OK AUGUST 26, 1931 R E S O U R C ES (In thousands of dollars) B-470~b Total Boston Hew York Fnila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran Gold with Federal reserve agents 2,152,013 159,917 501,468 170,000 238,250 55,570 10S,900 436,900 69,330 50,06$ 64,000 IS,350 230,7§3 Gold redemption fund with U.S.Treasury 29.889 975 12.592 1,698 2,218 1,100 1,286 3,835 1»452 XJ200 l,03i l^Sob g2rHelnote°~S1VeIy ^a i-~ 2,181 o ? IbO,802 ^l4,0b0 171,698 240,468 56,670 108,186 490,73 5 70,782 50,701 65,200 19,881 232,629 0 ^ ^ ^ 1 :2 1:51 1:% %% Total gold reserves 3,485,546 217,832 1,1-57,088 248,250 346,949 79,°08 126,578 658,430 103,294 69,850 93,766 41,007 312,894 Reserves other than gold 172,213 lb,054 51,224 9,574 l4, 218 9,893 6,719 26,493 10,370 3_>_<^3£ L' 7°° 7,950 ?_ 094 1 361,167 Total reserves 3,657,759 233,856 1,238,312 257,824 89,501 133,297 684,923 113,66 4 7 3,636 101,55*+ 48,957 3 20,9 IN 72,111 9,687 23,514 3,296 2,597 3,754 4,627 9,058 4,093 l,4b6 1,978 3,575 4,466 ivon-reserve cash • k S & L T - "- ,B:S iSt ft* .as 83$ ,I:S i$ tS « ».S £« «S_1S Other bills discounted 142,936 5,9(8 19,150 lc-,629 17,8ol lo,323 20, lo Total "bills discounted 24l,7lS 10,212 48,366 18,105 29,913 18,75% 22,357 16,571 10,939 4,513 12,659 13,750 35,582 25,269 Bills "bought in open market 180,518 l4,8G6 68,318 12,222 17,896 5,057 3,862 3,872 3,039 6,539 4,923 14,155 m n m : : -s .a m : :i :$ 11 : a :: :i 25,130 52,031 Total U.S.Govt, securities 727,998 53,'l6l 224,555 54,467 72,085 31,55" 22,31° 95,33 2 30,476 27,olO 39,077 Other securities 6,402 70 4,650 530 100 ^0 52 yo 40 82 560 40 Total bills and securities 1,156,636 78,309 346,389 85,324 119,99% 55,426 48,585 137,302 45,327 35,444 58,835 43,843 101,858 g'-i 1 a a i 11 <j 4 * i I TOTAL RESOURCES 5,440,863 375,831 1,783,976 388,76s 534,851 185,803 203,023 896,729 186,465 122,994 191,212 112,752 458,459 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS OK AUGUST 26, 1931 (in thousands of dollars) 3-4]!0c l i a b i l i t i es Total Boston Hew York Fhila. CI eve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. 1,9^5,507 138,767 393,105 143,662 240,208 67,218 112,507 UI6,966 73,391 51,333 66,233 ^,780 203,332 P.R.notes in actual circulation Deposits: 2,341,993 139,091 1,001,282 141,529 180,834 59,694 54,269 338,808 68,46s 46,944 80,896 51,566 173*617 Member bank - reserve account S2,b04 2,760 55,502 2,092 3,623 3,839 1,235 4,189 1,839 1,232 1,383 1,748 2,462 Government 12,213 Foreign "bank 182,921 13,470 62,412 17,780 Is %,139 7,184 6,465 24,246 6,286 4,130 5,33 4 3 7 5 , 2 3 8 88 7,681 26,812 37 11,051 08 6,178 109 5-6 591 743 223 Other deposits 2,625 2,634,335 155,35s 1,130,247 161,469 208,774 70,876 367,834 77,336 52,579 87,534 58,730 200,973 Total deposits 403,634 48,403 104,921 34,636 40,130 29,127 9,772 50,215 19,H5 3,177 22,102 13,409 23,627 Deferred availability items C Su a r p p i l t u a s l paid in 1 2 6 7 7 4, ,1 63 9 6 4 2 1 1 1 ,2 ,7 9 9 9 4 S 6 o 4 , ,8 5 0 75 5 2 1 7 6 , , 0 7 ^ 2 5 7 2 1 3 5 , , 9 7 7 3 1 2 1 5 2 , , 6 1 6 1 6 4 1 - 0 , ' . 8 1 - 5 3 • > 7 3 4 3 * 1 9 7 9 ? ,9 , 4 7 3 1 6 3 10,562 7 2 , ,9 1 8 4 8 4 8 4, ,7 2 4 1 0 1 3 2 8 4 8 7 ,1 1 ,9 3 2 3 5 6 1 1 6 1 8 5 , , 3 4 6 9 7 6 5 All other liabilities 15,557 JSLd 5.320 209 1,036 802 2.079 2,065 1,277 773 5,440,363 375,531 1,783,976 338,7<6n 534,851 135,803 203,023 896,729 156,465 122,994 191,212 112,752 458,459 TOTAL LIABILITIES 76.1 65.2 Reserve ratio (per cent) 79.9 79.5 31.0 83.1 80.4 64.8 87.3 75-4 70.9 57-3 79.4 Contingent liability on bills pur- 229,970 17,242 23,219 9,196 8,276 31,036 3,046 5,237 6,667 6,897 15,633 chased for foreign correspondents 75,712 22,759 FEDERAL RESERVE IIOTE STAT CLIENT Federal reserve notes: Issued to F.R.bank by F.R.agent '7:57' M:!§ % 1:% 1 :^ 1; 9 n1 W Held by Federal reserve bank *' ' ' ' "' 26,780 203,33 2 395,105 143,562 240,838 67,218 112,507 4l6,9o6 73,391 51,333 6o,23 In actual circulation 1,9^5,507 133,767 Collateral held by agent as se- 9 i. curity for notes issued to bank Gold and gold certificates 737,533 35,30 446,458 3 1 5 3 , 1 7 , 0 30 0 0 23,250 4 1 5 0 , , 5 0 0 7 0 0 1 9 0 6 ,9 ,0 0 0 0 0 73,900 1 5,130 6,665 . 1 7 1 , ,5 3 5 00 0 7 1 0 6 ,0 0 0 ,7 0 6 ) 3/ E G l o i l g d i f b u l n e d p - a F p . e R r . Board 1,4 2 I 9 4 1 , , 3 3% 3Q 7 1 1 2 5 4 , , 7 b 6 l7 3 S R o h. , O U O g C l 16,233 3 21 5 5 ,3 ,0 2 0 0 0 21,891 24,033 4 2 1 4 3 ,5 ,0 7 0 0 0 5 1 4 3 , , 2 0 0 7 0 7 4 6 3 ,6 ,4 3 0 3 0 o 1 4 5 , , 0 3 0 9 0 2 15,081 41,9# 175,650 561,949 186,253 274,070 77,461130,932511,770 52,407 79,392 Total collateral 2,443,3^0 56,703 33,931272,7^1 MATURITY DISTRIBUTION OF BILLS A2TD SHORT TERM SECURITIES \ 91 days to Total Lthin 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 241,718 155,446 17,768 37,639 23,327 6,975 513 Bills bought in open market 180,518 29,120 25,181 2,128 124,051 128,63 35 1 Certificates and bills 403,724 21,425 24 32,950 97,150 123,544 Municipal warrants 52 10 42 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis