H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEIGM? FOR THE PRESS 3-477 Released for publication Federal Reserve Board Friday mornin<;, Sept. 4; September 3> 1931 not earlier. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding duiing the week ending Sentember 2, as reported Dy the Federal reserve banks, was $1,224,000,000, an"increase of $4$,000,000 compared with the preceding week and of $196,000,000 compared with the corresponding week in 1930. On September 2 total reserve bank credit amounted to $1,221,000,000, an increase of $22,000,000 for the week. This increase corresponds with increases of $41,000,000 in money in circulation and $32,000,000 in member bank^reserve balances, offset in part by a decline of $7,000,000 in unexpended capital fun s, etc., and increases of $38,000,000 in Treasury currency, adjusted, and ?b,000,0„U in monetary gold stock. Holdings of discounted bills declined $2,000,000 at the Federal Reserve Bank of Boston, and increased $7,000,000 at Chicago, $4,000,000 each at foew Yorr and Cleveland and $15,000,000 at all Federal reserve banks. The System s holdings of bills bought in open market increased $17,000,000 and of l'reasury certifica es and bills $13,000,000, while holdings of Treasury notes declined $13,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September 2, 1931, were as follows. Increase or decreas since Sept. 2 Aug. 26 Sept. 3 1931 1931 1930 . (In millions of dollars) Bills discounted 257 +15 +2o 192 +17 +28 Bills bought 728 +126 United States securities Other reserve bank credit 38 - 11 + 1 1,221 + 22 +180 TOTAL RESERVE BAFK CREDIT Monetary gold stock 4,99S + 6 +498 Treasury currency adjusted 1,75S +38 - 18 Money in circulation 5,035 + 4l +524 Member "bank reserve "balances 2,374 + 32 - + 1 1 9 5 6 Un exp en& e& c api t al f uncis, nxxnmemb er cl epo sits, etc. 56s - 7 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning,September 4,1931; not earlier. fa RESOURCES AND LIABILITIES OF THE T'YELVE F335RAL RESHIVE BAMS COMBIKED (in thousands of dollars) Sent. 2.1931 Aug. 26,1951 Sept. 3.1950 R E S O U R C ES Gold with Federal reserve agents . . .. 2, l64,613 2,152,013 1,564,956 Gold redemption fund with U.S. Treasury 29,889 29,889 35,391 Gold held exclusively against F.R.notes 2,194,502 2,181,902 1,600,347 Gold settlement fund with F. R. Board . 430,354 44i, 211 570,584 Gold and gold certificates held "by "banks g4o,io4 862,433 763,657 Total gold reserves 3,464,96o 3,485,546 2,934,582 151,650 Reserves other than gold . . . . . . .. 167,952 172,213 Total reserves 3,632,918 3,657,759 3,086,238 Non-reserve cash 71,170 72,111 61,683 Bills discounted: Sec. "by U.S. Government obligations . 107,959 93,782 76,510 Other Dills discounted 149,326 142,936 154,750 231,260 Total "bills discounted . . . 257,285 241,718 Bills "bought in open market 197,868 180,518 170,395 U. S. Government securities: Bonds 292,137 291,9 7 7 64,056 Treasury notes 18,973 32,297 315,868 Certificates and "bills 416,998 403,724 222,120 602,044 Total U.S.Government securities 728,108 727,998 6,252 6,402 8,572 Other securities Total bills and securities . . 1,189,513 1,156,636 1,012,271 Due from foreign "banks 17,913 38,378 704 16,010 14,622 18,330 F. R. notes of other banks 445,260 407,424 566,693 Uncollected items 59,609 Bank premises 59,086 59,083 16,752 33.462 All other resources 33,933 TOTAL RESOURCES . . . . 5,464,415 5,440,863 4,8 22,280 L I A B I L I T I ES F. R. notes in actual circulation 1,958,203 1,945,507 1,367,619 Deposits: Member bank - reserve account . , 2,373,917 2,341,998 2,393,357 82,6O4 34,059 Government 39,857 Foreign bank . . 178,136 182,921 6,498 Other deposits . . .. 24,871 26,812 20,082 Total deposits 2,616,781 2,634,335 2,453,996 Deferred availability items 431,864 403,634 538,919 169,786 Capital paid in 167,079 167,194 Surplus 274,636 274,636 276,93b All other liabilities . . . 15,852 15,557 15,024 TOTAL LIABILITIES 5,464,415 5,440,863 4,822,280 Ratio of total reserves to deposit and 80. %fo F. R. note liabilities combined . . . 13 Mo 79.' Contingent liability on bills purchased for foreign correspondents . 230,004 229,970 459,830 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMS OH SEPTEMBER 2, 1931 R E S O U R C ES (In thousands of dollars) B-477b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,l64,6l3 159,917 501,468 170,000 238,250 55,570 106,900 496,900 68,730 51,265 65,000 19,850 230,763 Gold redemption fund with U.S.Treasury 29,889 975 12,592 1,698 2,218 1,100 1,286 3,835 1,452 636 1,200 1,031 l,8b6 Gold held exclusively against 5i4,o6o 171,698 240,468 70,182 51,901 66,200 20,881 232,629 F. R. notes 2,194,502 160,892 56,670 108,186 500,735 57,889 21,839 29,768 Gold settlement fund with F. R. Board 430,354 23,238 140,818 46,462 39,332 17,534 9,o42 17,183 13,591 13,o5S Gold and gold certif. held by banks s4o,io4 35,975 523,091 28,092 55,299 4,725 8,790 107,736 11,717 4,477 8,740 5,108 46,354 220,105 246,252 78,929 126,018 666,360 103,738 88,531 308,751 Total gold reserves 3,464,960 1,177,969 335,099 73,5bl 39,647 Reserves other than gold 167,958 17,432 46,528 10,173 14,538 9,961 6,458 25,413 10,244 3,749 8,160 7,464 7,838 Total reserves 3,632,918 237,537 1,224,497 256,425 349,637 88,890 132,476 691,773 113,982 77,310 96,691 47,111 316,589 9,096 Non-reserve cash 71,170 9,970 23,438 3,283 3,510 3,388 3,850 3,596 1,630 1,707 3,189 4,513 Bills discounted: 1,106 1,291 29,622 Secured by U.S.Govt, obligations 107,959 3,5^6 32,402 5,787 13,920 2,347 13,683 3,395 386 469 20,360 21,527 9,600 11,502 13,602 6,156 Other bills discounted 149,326.. 4,870 12,590 20,084 17,133 7,924 3,978 Total bills discounted 257,285 S,4i6 52,762 18,377 34,004 19,480 22,633 23,288 11,319 4,364 12,793 14,071 35,778 Bills bought in open market 197,868 16,724 69,966 16,364 23,315 4,576 3,658 28,883 3,420 2,883 7,213 5,322 15,544 U. S. Government securities: 96,90s 21,710 Bonds 292,137 19,237 19,155 11,785 7,038 47,734 9,839 14,711 13,663 15,313 15,044 2 2 1 Treasury notes 18,973 „ 5 3,403 3 2 2,420 4 3,503 1 9,627 Certificates and bills 416,998 34,462 124,635 32,523 50,372 19,771 12,359 4s,600 17,366 13,183 25,412 9,sto 27,975 Total U.S.Govt, securities 728,108 53,701 221,548 55,081 72,085 31,558 22,317 96,338 30,708 27,895 39,077 25,154 52,646 Other securities 6,252 100 50 560 70 4,500 530 60 130 to 82 to 90 Total bills and securities 1,189,513 78,911 348,776 90,352 129,504 55,674 48,658 148,639 45,487 35,224 59,643 44,587 104,058 Dae from foreign banks 17,913 848 11,117 1,119 1,084 429 386 1,526 25 17 311 322 729 F. R. notes of other banks 14,622 253 4,124 278 1,113 1,699 938 1,926 723 796 1,343 313 1,119 Uncollected items 445,260 50,130 124,997 39,523 44,917 33,oio 10,155 52,515 19,308 7,879 25,474 14,065 23,287 Bank premises 59,086 3,458 15,240 2,6l4 7,698 3,626 2,573 8,061 3,635 1,926 3,803 1,831 4,621 All other resources 33,933 927 17,131 1,375 2,088 1,587 3,118 2,081 1,213 1,315 792 1,102 1,204 5,464,415 1,769,320 202,154 915,617 187,969 126,097 189,761 112,520 456,120 TOTAL RESOURCES 382,034 394,969 539,551 188,303 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BASKS OH SEPTEMBER 2, 1931 b-477C (in thousands of dollars) L I A B I L I T I ES Minn. Kans.Cy. Dallas San Fran. Total Boston New York Phila. Cleve. Rich. Atlanta Cnicago St.Louis ;,398 27,083 209,294 1,958,203 139,539 338,863 1 Us,671 239,251 6s,243 112,Ss4 4s, 295 74,852 52,920 6s, F.R.notes in actual circulation Deposits: 48.505 79,045 174,856 2,373,917 143,413 1,011,14? 146,359 186,024 62,270 53,442 349,626 67,657 51,^3 Member ban.-c - reserve account 1,429 732 534 723 39,857 3,982 21,i4o 1,984 2,886 819 1,883 2,156 1,5 Government 178,136 12,367 67,491 16,325 16,654 6,59b 5,936 22,261 5,771 3,793 4,782 4,947 11,213 Foreign "bank 24.871 25 10.785 68 5,272 30 oc 5^5 735 304 69 ,27 6,325 Other deposits 84,628 56,971 193,137 2,616,781 159,787 1,110,563 164,736 211,436 69,715 61,327 374,548 75,752 $4,131 Total deposits 23,390 i4,6n 23,093 $38 !« H58 S:S S:S *# SB 3;" tf SS Deferred, availability items ins 'us '-a 4,217 4,182 n,395 Capital paid in a -g; *"s ts te '« 8,702 2,936 18,475 Surplus 426 737 676 All other liabilities 139,761 112,520 456,120 5,464,415 382,034 1,769,320 394,969 539,551 123,303 202,154 915,617 127,969 126,097 TOTAL LIABILITIES 63.2 56.0 72.7 79.4 79.3 81.7 • 81.8 77.6 64.4 7b.l So.2 75.7 72.2 Reserve ratio (per cent) Contingent liability on bills pur- 230,004 17,099 77,024 22,570 23,027 9,119 2,202 30,773 7,920 5,244 6,612 6,34o 15,503 chased for foreign correspondents FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: 76,651 32,997 258,237 538,493 169,378 264,543 74,719 128,621 513,521 80,830 57,261 161,197 Issued to F.R.bank by F.R.agent 2,357,003 149,630 a, 207 25,292 6.476 15,937 85,286 5,973 4,281 2,253 5,914 43,943 Held by Federal reserve bank 392,805 21,608 1,952,203 139,529 388,863 148,671 239,251 68,243 112,684 423,295 74,252 52,920 68,398 27,083 209,294 In actual circulation Collateral held by agent as security for notes issued to bank 446,463 32,700 23,250 10,070 10,900 73,900 15,030 Gold and gold certificates 737,523 35,300 0,605 - 55,000 131,300 215,000 45,500 96,000 423,000 53,700 44,b00 05,000 12,550 100,763 Gold fund - F. R. Board 1,427,030 124,617 296,694 12,687 60,972 15,975 41,321 22,143 24,147 29,569 12,818 6,23Q 15,132 14,657 40,966 Eligible paper 562,440 125,975 279,631 77,713 131,047 526,469 31,548 57,501 20,138 34,507 271,729 2,461,307 172,604 Total collateral MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES . 91 days to Over 6 months Total Within 15 days l6 to 30 days jl to 60 days ol to 90 days g months 466 33,053 23,232 5,26l Bills discounted 257,225 171,731 22,942 Bills bought in open market 1 4 9 1 7 6 , ,9 26 9 8 2 36,46 2 9 5 10 7 , ,0 6 0 53 0 4 3 1 , , 7 9 9 0 4 0 1 1 1 4 2 6 , , 9 9 0 5 5 2 131,625 123,5^3 Certificates and bills 52 10 - ^2 Municipal warrants Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis