H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-496 Friday morning, Sept. 12; Federal Reserve Board not earlier. September 17, 1931 CONDITION OF FEDERAL RESERVE BAilXS The daily average volume of Federal reserve bank credit outstanding during the week ending September l6, as reported by the Federal reserve banks was $1,253, 000,000, an increase of $21,000,000 compared with the preceding week and of $245,000,000 compared with the corresponding week in 1930. On September l6 total reserve bank credit amounted to $1,279,000,000, an increase of $63,u00,000 for the week. This increase corresponds with an increase of $128,000,000 in member bank reserve balances, offset in part by increases of $15,000,000 in monetary gold stock and $38,000,000 in Treasury currency, adjusted, and decreases of $5,000,000 in money in circulation and $8,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills declined $l4,000,000 at the Federal Reserve Bank of San Francisco, and increased $11,000,000 at Philadelphia, 93»000,000 each at Atlanta and St. Louis and $3,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $20,000,000 and of United States securities $l4000,000. Holdings of United States securities inf cluded a special Treasury certificate amounting to $14,000,000, as compared with $45,000,000 a year ago, issued by the Treasury pending quarterly tax payments. Other certificates and bills increased $15,000,000, while United States bonds declined $15,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September l6, 193l» were as follows: Increase or decrease since .Sept. l6 Sept. 9 Sept. 17 1931 1931 1930 (In millions of dollars) Bills discounted 263 + 3 + 100 Bills bought 218 +20 + 9 Special Treasury certificates 14 +14 - 31 Other United States securities + 163 Other reserve bank credit + 30 TOTAL RESERVE BANK CREDIT 1,279 +63 + 271 Monetary gold stock 5,015 +15 + 508 Treasury currency adjusted 1,800 +38 - 16 Money in circulation 5,087 - 5 + 629 Member bank reserve balances 2,418 +128 - 38 Unexpended capital funds,nonmember deposits, etc. 589 - g + 172 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Heleaded for publication Friday morning, September 18,1931; not earlier. B-49oa RESOURCES MB LIABILITIES OF THE TiTZLYE FEDERAL RES23RVE BASES COM3IiTED (In thousands of dollars) Sept. 16,1931 Scot. 9,1931 Sept.17.1930 R s s o nc r: s Gold with Federal reserve agents . . .. 2,225,948 2,190,648 1.548,956 Gold redemption fund with U.S.Treasury . 29,822 29 ,731 35,875 GOLD HELD EXCLUSIVELY AIAINST F.2.notes 2,255,830 2,220,379 1,584,831 Gold SETTLEMENT fund with I. ?t. Board . 432,86 5 419 , 228 520,999 GOLD AND gold CERTIFICATES HOLD, BY BANKS 797,044 830,439 809,310 TOTAL GOLD RESERVOS 3,485,739 3,470,046 2,975,640 Reserves other than gold l62,Ool 158,717 151>828 TOTAL RESERVES 3,647,800 3,628,763 3,127,468 ITon-roserve cash 72,002 67,891 06,471 Bills discounted: Sec. by U.S. Government obligations . 111,150 113,123 45,582 Other bills discounted 151,844 147,109 117,567 TOTAL BILLS DISCOUNTED 262,994 2c0,232 163,1^9 Bills bought in open -aar2.eet 217,770 197,788 208,861 U. S. Government securities: Bonds 277,009 292,027 38,085 Treasury notes 18,962 18,962 295,261 Special Treasury certificates . .. . 14,000 - 45,000 Other certificates and bills . . .. 432,487 417,076 232,037 Total U.S. Government securities . 742,458 728,065 6LO,3S3 OTHER securities 15,342 6,267 7,022 Total bills and securities . . . 1,238,564 1,192,352 989,415 Due from foreign banks 8,743 10,746 701 F. B. notes of other banks 17,110 14,794 23,939 UNCOLLECTED ITEMS 601,804 440,305 722,305 Bank premises 59,220 59>1°9 59,642 ALL other resources 33•50" 35>LO4 11,442 TOTAL 2ZS0U3.C3S 5,673,751 5,449,064 5,001,383 L I A B I L IT I 721 S F. E. notes in actual circulation . . . 2,005,896 2,010,322 1,349,329 Denosits: Member bank - reserve account . . .. 2,417,712 2,289,756 2,456,282 GOVERNMENT 3*4,57 30,575 3,70B Foreign bank 197,297 207,415 5,774 Other deposits 27,050 25,9^4 19,784 TOTAL DEPOSITS 2,645,546 2,553,730 2,485,546 Deferred availability items 569,904 427,036 704,476 Capital paid in 166,896 167,063 169,372 SURPLUS 274,636 274,636 276,936 All other liabilities 15,873 l6,277 15,224 TOTAL LIABILITIES 5,678,751 5,449,064 5,001,383 Ratio of total reserves to deposit and F. R. NOTE LIABILITIES corioined . . .. 78.4$ 79*5$ 31.6% Contingent liability on bills purchased for foreign correspondents 233,102 231,260 433,843 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

' H2SOU2C33S; MD" LIABILITIES'- OF THT ZBDESZAL K53%37E BAHKS OH SEPTBMBBR l6, 1931 R E S O U R C ES (In thousands of dollars) B-4g6c Total Boston Hew York Fhila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,225,9=48 159,917 501,^8 175.000 37.270 57,070 103,400 532,900 69.555 55,255 67.000 25,350 2^.763 Gold redemption fund with U.S.Treasury 29.882 956 12,517 1,654 2,180 1,336 1.256 3,8l6 1.1+47 633 1,196 1,028 1,853 Gold held exclusively against F. R. notes 2.255,830 i6o,S73 513,985 176,654 239,450 58,406 104,656 535,716 71,002 55,888 68.196 27,378 242,626 C-Old settlement fund with F.R.Boaxd 43 2,855 20,754 171,743 42,712 4o,077 17,275 8,330 35,590 16,627 11,426 13,195 13,376 41,760 Sold and gold cortif. held "by hanks 797,044 35,686 520,052 20,763 57,09 2 4,383 9,208 91,759 11,985 4,671 9,076 4,893 27.j4l6_ Total APid reserves 3,425,739 217,313 1,205,780 24o,129 336,619 so,o54 122,194 564,0S5 99,5l4 71,985 90,467 45,547 311,862 Reserves other than gold l52,o6i 14,751 43.509 10,933 13,804 9.535 6,108 25,899 10,609 3,939 7,795 6,464 7,715 Total reserves 3,547,800 232,064 1,249,289 2^1,062 350,423 89,599 128,302 590,954 110,223 75,924 98,252 52,111 319,577 Hozi-re serve cash 72,002 11,070 23,079 3,595 3,826 2,839 3,971 9,322 3,592 1,289 1,850 2,931 4,528 Bills discounted: Secured "by U.S.Govt, oolivationi 3 111,150 3,122 25,935 15,262 14,864 3,597 2,126 14,449 4.187 217 1,094 613 22,584 Other "bills discounted iil,o44 4.150 20,741 14,037 17,026 18,517 23,798 11,133 9,189 3,772 10,933 12,939 5,5b4 Total "bills discounted 262,994 7,272 46,575 32,299 31,890 22,214 25,924 25,532 13,376 3,939 12,032 13,552 2g,l'23 Bills bought in open market 217,770 l4,44o 9$.304 17,335 21,743 2, 510 3,293 26,495 2,084 2,026 5,619 5,225 20,690 TJ. S. Government securities: Bonds 277,009 17,671 94,093 17,822 15,876 1100,,888855 66..552211 4455,,552255 9,050 1144,,339944 12,557 1144,,884422 13,772 Treasury notes 18,9o2 2 5 3,403 3 2 2,409 4 3,503 1 2 1 9,627 Special Treasury certificates 14,000 - i4,ooo — - - — - - - - - Giher certificates and tills 432.487 36,027 l27v-'-5C 33,856 52 , 306 20,670 13,442 50,809 18,155 13,782 2266,,555566 10,287 29,247 Total U.S.Govt. securities 742,458 53,700 235,543 55,081 72,055 31,55S 22,372 96,33s 30,708 28,177 39,115 25,130 52,646 Other securities 15,342 9b0 7,790 1,260 - 700 . 600 1,790 630 522 - - 1,090 Total "bills and securities 1,238,564 76,372 386,318 105,97b 125,718 56,982 52,194 150,205 46,798 34,714 56,766 43,907 102,614 Due from foreign "banks 8,743 689 3,208 910 881 349 314 1,241 25 17 253 262 594 F. R. notes of other "banks 17,110 213 5,198 132 1,135 1,629 723 2,569 1,563 939 1,105 352 1,552 Uncollected items 5oi,so4 55,771 171,283 53,613 54,306 46,757 15,106 81,181 21,997 11,322 23,463 18,546 32,459 Bank premises 59,220 3,458 i5,24o 2,6I4 7,803 3,654 2,573 8,0bl 3,635 1,926 3,803 1,831 4,622 All other resources 33.508 977 15,293 1,590 2,084 1,625 3,083 2,26n 1,217 1.362 849 1,941 1,218 TOTAL RESOURCES 5,578,751 391,614 1,858,908 4i9,492 546,236 203,434 206,266 945,312 189,050 127.493 191,351 121,931 467,164 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ESSOUECES A2TB LIABILITIES OF THE INDERAL EESEEYE BANKS 01T SEPTEMBEE l6, 1931 L I A B I L I T I ES (in thousands of dollars) B-496C Total Boston Hew York Phila. Glove. Eich. Atlanta Chicago St.Louis Minn. Xans.Cy, Dallas San Fran 30,033 214,349 2,005,298 137,841 383,115 161,671 242,553 72,sHU 111,923 447,014 75,972 5^,514 bu,oi7 P. E.notes in actual circulation Deposits: 64,477 46,340 76,454 52,675 170,961 Moriscr tank - reserve account 2,417,712 i4o,/4l 1,093,461 144,353 182,344 59,953 53,661 331,792 . .. Government 3,487 279 360 15 204 338 170 259 223 349 391 134 715 Foreign "bank 197,297 13,98b 72,169 18,461 IS,335 7,459 6,713 25,175 6,527 4,2; £9 5,4o3 5,59^ 12,631 Other deposits Jl 14,'036 43 3,508 31 l40 1,113 749 23b o2 54 6,413 Total do-posits 2,645,546 155,o4o 1,180,626 162,877 204,891 67,357 6o,5s4 358,339 71,976 51,714 82,315 58,457 190,770 Deferred availability items 569,904 " ' 6 ' 5 2 , , 3 9 5 0 2 2 149,918 50,821 44,132 15,502 78,655 24,460 9,372 27,061 19,536 31,433 106,896 11,788 54,677 16,723 15,679 5,654 5,216 19,621 4,731 2,977 4,212 4,130 11,388 Capital paid in 274,636 21,299 80,575 27,065 28,971 12,114 10,357 39,936 10,562 7,144 8,702 8,936 18,475 Surplus 15,375 294 4,997 275 1, 24o 783. 2,084 2,247 1,299 7f2 H-44 739 699 All other liabilities 5.678,751 391,614 1,368,903 419,492 545,236 203,434 206,266 94^,812 189,CbG 127,493 191,351 121,931 467,164 TOTAL LIABILITIES Eeservo ratio v?-'r cent; " "* >- \.— To 7 r • - M t r > , 79. 77.4 __ \. 78.3 <3.7 74.3 35 -7.3 7w r4- -7.>5 1 r- -7-1 71 o.2 Crr 65 1.1 x zcj o "7Of 78 C.:9 Contingent liability on bills purchased for foreign correspondents 233,102 17,454 75,944 23,o4O 23,505 9,309 8,37s 31,418 8,145 5,353 6,749 6,932 15,825 mZSEAL SS:-EVE iTOT;] STATLLI3BT Federal reserve notes: Issued to F.B.bank by F.E.ajent 2,441,877 165,313 532,029 191,328 271,232 79,2ol 123,174 548,946 81,656 59,986 r6,585 33,517 267,849 Held by Federal reserve bank 435,981 27,472 143,914 29,657 28,679 6,417 16,251 101,932 5,QS4 5,072 7,969 9,434 53,500 2,005,396 137,341 388,115 161,671 242,553 72,344 111,923 447,0i4 75,972 54,914 63,617 30,083 214,349 In actual circulation Collateral held by a.-.ent as security for notes issued to bank , r 7 ,300 90,000 Gold and ;:old certificates 772,413 35,300 4^,%8 38,700 22,270 10,070 10,900 39,000 14,355 6,655 Gold fund - F. E. Board 1,4\ —5 —3 \!530 124 ]M 6^ 17 551000 1 3^ A6 M -Jnr 0^0 —r*mk r— 2 /\15',00 y0s ^ 1 14 /**7\ ,000 A A9 z"2x I—,5 A0/*1c* ) I 1 i 443, *07 A0A0A C J54,70 1 0"7 A A 4 ) Is (?, A6A0 0 . ,- ,000 19,050 150,763 Eligible paper 302,158 8,541 70,774 24,853 36,773 22,801 27,013 28,139 13,So6 4,971 12,Q33 13,850 37,999 Total collateral 2,528,106 168,453 572,242 193,853 274,043 79,871 130,413 561,039 83,361 60,226 79,633 40,200 27b,762 MATURITY DISTEIBUTI01T OF BILLS ASH SH0ET TEEM S3 CUE IT IBS 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 5 months Over 6 months Bills discounted 262,9 34 184,324 21,793 • 32,103 19,415 4,376 433 Bills bought in open market 217,770 55,712 3,651 3,099 155,308 Certificates and bills 446,487 21,000 10,950 43,425 203,054 109,844 53,214 Municipal warrants 92 15 10 67 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis