H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATELSIE FOR THE PRESS Released for publicat ion B-510 Federal Reserve Board Friday morning, Oct. 2; not earlier. October 1, 1931. CONDITION OF FE3ERA1 RBSLEVB BA.IKS The daily average volume of Federal reserve bank credit outstanding during the week ending September 30 as reported by the Federal reserve banks was $1,492,000,000, an increase of $195,000,000 compared with the preceding week and of $4o0,000,000 compared vrith the corresponding week in 1930. On September 30 total reserve bank credit amounted to $1,57^,000,000, an increase of $2b3,000,000 for the week. This increase corresponds with increases of $-32,000,000 in money in circulation and $"4,000,000 in member bank reserve^ balances and decreases of (-158,000,000 in monetary gold stocii ana $2,000,000 in Treasury currency, adjusted, offset in part by a decrease of -/oo,000,000 in unexpended capital funds, nonmenber deposits, etc. Holdings of discounted bills declined $15,000,000 at the Federal Reserve Bank of Chicago, and increased $21,000,000 at San Francisco, $4,000,000 each at Boston, Philadelphia and Atlanta and $13,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $226,000,000 and of United States bonds $25,000,000, while holdings of Treasury certificates and bills deeline d $21,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September 30, 1931> wore as follows: Increase or decrease since Sept. 30 Sept. 23 Oct. 1 1931 1931 J£2Q_ (in mi llions of dollars) Bills discounted 328 + IS + 142 Bills bought 469 + 226 + 276 United. States securities 7^2 + 4 + i4l Other reserve "bank credit 39 + 15 + 9 TOTAI, RESERVE BANZ GR1DIT 1,573 ^ + 263 + 56s Monetary gold stock - 152 + 228 Treasury currency adjusted i :K * 5 5 Money in circulation 5,246 + 22 + 75% Lembcr bank reserve balances 2,364 + u4 - 30 Unexpended capital funds,nonmernber deposits,etc. 4S3 66 + 67 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication jfriday morning, October 2, 1931; not earlier. B-510a RESOURCES Ail3 LIABIL ITIES OF THE TWELVE FS2E2AL R.1SJ3RVS 3AHS C013IUED (in thousands of dollaxs) Scot. 30.1931 Sept. 23,1931 Oct. 1, 1930 R E S 0 U RGBS Gold with Federal reserve agents . . .. 1,927,710 2,1%, 539 1,558,4p6 Gold redemption fund with U.S.Treasury . 39 ,753 31,324 34,904 Gold held exclusively against F.R.notes 1,967,463 2,185,363 1>593,3^0 Gold settlement fund with F. E. Board . 445,6)4 339,178 p45,oo0 Gold and gold certificates held by "banks 725• 084 749,892 837, 749 Total :;old reserves 3,138,181 3,327,433 2,97:o,7°9 ; Reserves other than /.old 162,364 164,113 151 >.912. Total reserves 3,300,54$ 3,491,546 3,128,388 2Ton-reserve cash 70, 77^ 71,110 00,409 Bills discounted: Sec. by U.S. Government obligations . 1)2,951 142,345 "3,555 Other Dills discounted 194,974 loo,982 12c,3&1 Total bills discounted 327,925 309,827 185,916 Bills bought in onen market 'tog,527 243,189 193,108 U. S. Government securities: . Bonds . .. 309,135 234,335 33,30o Treasury notes 18,962 18,9°2 291,420 Certificates and bills 4l4,198 43 r, 638 £71_»42£: Total U.S. Government securities . 742,345 737,985 601,17/ Other securities 14,405 l4,805 6,772 Foreign loans on .old 4, 768 ~ I Total bills and securities . . 1,557,970 1,305,806 936,973 Due from foreign hanks 8,752 8,752 _ 701 F'. R. notes of other banks 16,99° 17,906 ^18,704 Uncollected items 4jS,913 461,276 o0o,0p2 Bank premises 59 > 225 >'9,221 p9,b4j All other resources )b,359 34,230 12,046 TOTAL RESOURCES 5,529,534 5,449,847 4,878,977 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,097,793 2,045,00? 1,376,351 Deposits: , , r Member bank - reserve account . . .. 2,363,584 2,279,545 2,^94,31o Government 22,243 el, / 77 37,372 Foreign bank 95,135 102,073 0• ^pl Other deposits 23 ,613 liL>7_liii Total do'pet-sits 2,506,156 2,487,013 2,456,085 Deferred availabity items 467,639 460,682 583,251 Caroital oaid in 166,759 lbbJbO 170,04? Surplus 274,636 274,636 27b,-,,0 All other liabilities l6,55'l 15,751 lli±9-L TOTAL LIABILITIES 5,529,534 5,449,847 4,873,977 Ratio of total reserves to deposit and F, R. note liabilities combined . . . 71,7$ 77.0,2 81.0% Contingent liability on bills purchased for foreign correspondents 100,118 181,436 431,411 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MB LIABILITIES OF THE FBD3RAL RESERVE BAMS OH SEPTEMBER 30, 1931 H E SO U R G ES (In thousands of dollars) B-510c Total Boston Mew York Fnila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,927,710 129,917 431,575 162,000 212,950 43,570 80,900 491,950 52,055 45,030 62,000 20,000 195,763 Gold redemption fund with U.S.TreasuT;;39,753 930 12,422 2,598 4,733 2,350 2,283 5,794 1,439 831 1,192 1,327 3,854 Gold hold exclusively against F. 5. notes 1,967,463 130,847 443,997 164,598 217,683 45,920 83,183 497,744 53,4=4 45,861 63,192 21,327 199,617 Gold settlement fund with F.R.Board 445,634 10,264 216,213 33,676 34,749 14,888 5,752 48,929 12,880 11,951 18,250 20,026 18,05b Gold and gold ccrtif. held by banks 725,084 37,462 464,675 26,300 43,626 4,194 9,235 68,210 12,472 4,647 7,859 4,778 4l,b2b Total gold reserves 3,138,181 178,,573 1,124,885 224,574 296,058 65,002 98,170 6l4,883 78,846 62,459 89,301 46,131 259,299 Reserves other than gold lb2,364 19,843 3 6,824 11,233 14,193 8,556 6,3 7 2 27 , 299 11,18 5 4,177 7,852 6,704 8,126 Total reserves 3,300,545 I98,4l6 1,161,709 235,807 310,251 73,55# 104,542 642,182 90,031 66,636 97,153 52,235 267,425 IToii-rcserve cash 70,774 11,254 24,330 3,285 2,8l4 2,372 3,557 8,97b 3,317 l,b05 1,72b 2,744 4,294 ^ecuredb^TU^S! Govt. obligations 132,951 7,i6l 30,214 25,115 25,569 4,925 4,3o2 8,100 5,446 348 1,199 593 19,919 Other bills discounted 194,974 5,220 23,307 23,603 20,2o7 22,273 25,530 9,915 8,962 3,452 12,900 12,181 27,690 Total bills discounted 327,925 12,331 53,521 48,723 45,836 27,198 29,892 18,015 14,408 3,803 13,765 12,774 47,609 Bills bought in open market 468,527 37,799 155,36b 9,137 45,227 20,562 19,231 75,384 17,°95 13,231 19,905 I3,l4c 4l,64o U. S. Government securities: . Bonds 309,185 20,126 97,271 20,032 26,170 12,063 7,26l 49,171 10,264 15,089 10,479 15,508 25,731 Treasury notes 18,962 2 5 3,403 3 2 2,4-09 4 3,503 2 1 1 9,°27 Certificates and. "bills UlU,198 3^*699 128,^2$ 32,909 ^9,802 19>^93 12,b77 49,26l 13,007 9>701 2o, 14l Total U.S. Govt, securities 742,345 54,827 225,705 5b,344 75,975 31,558 22,347 98,436 31,211 28,098 29,115 25,210 63,519 Other securities l4,4o$ 960 6,840 1,260 - 700 600 1,790 630 535 - - 1,090 Foreign loans on gold 4,768 4,7bc Total bills and securities 1,557,970 105,967 446,200 115,464 167,038 80,018 72,070 193,625 63,944 45,667 62,785 51,126 154,066 Due from foreign banks 8,752 689 3,217 910 881 349 3l4 l,24l 25 17 253 •-'u2 594 F. R. notes of other banks lb,996 248 6,040 136 1,005 -1,294 730 2,9 7 2 1,513 914 817 '370 957 Uncollected items 478,913 58,855 14-8,636 4i,63D 45,245 35,245 10,542 53,846 16,834 8,831 22,902 13,925 22,432 Bank premises 59,225 3,458 1 5,240 2,6l4 7,803 3;&5& 2,573 8,06l 3,636 1,926 3,804 1,832 4,622 All other resources 36,359 1,014 16,507 1,366 2,200 1,862 3,130 2,595 1,236 1,378 845 2,620 l,6o6 5,529,534 379,901 1,821,879 401,20 2 197,453 180 1 26,974 190,235 125,714 455,996 TOTAL RESOURCES 537,237 193,854 913",498 , 536 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES'AI7D LIABILITIES 0? TEE FEDERAL RESERVE BANES OH SEPTmSER JO, 1331 l i a b i l i t i es (in thousands of dollars) B—i)10c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans. Cy. Dal las San Fran. F.R.notes in actual circulation 2,097,793 142,829 40o,05l 171,988 263,624 82,057 112,215 456,107 76,620 57,iS3 70,080 35.613 223,411 Deposits: Member bank - reserve account 2,363,584 137,630 1,078,046 136,693 167, 42 56,892 52,059 329,370 62,272 44,773 78,321 56,648 163,33s (Government 22,243 93c 1,765 638 2,957 3,86l 911 1,932 2,710 3,160 1,743 817 811 Xgpreign bank 95,135 6, Sol 33,752 9,056 9,240 3,659 3,293 12,350 3,202 2,104 2,653 2,744 6,221 Other deposits 25,194 137 9A91 39 4,578 70 152 236 281 902 622 8,432 Total de-posits 2,506,156 145,553 1,122,754 146,426 184,317 64,482 56,415 344,206 68,420 50,312 83,619 60,831 173,802 Deferred availability items 467,639 53,067 142,840 32,6b6 43,469 33,686 10,638 51,435 18,806 8,405 23,193 15.319 23,115 Capital paid in 166,759 11,775 64,669 16,723 15,648 5,654 5,211 19,1 :52 4,781 2,974 4,207 4,179 11,386 Surplus 274,636 21,259 80,575 27,065 28,971 12,114 10,857 3 7( 9 ,936 10,562 7,144 8,702 8,936 13,475 All other liabilities 16,551 __ 36% 4,990 334 1,208 831 2,122 2,262 1,347 965 484 836 807 TOTAL LIABILITIES 5,529,534 379,901 1,821,879 401,202 537,237 198,854 197,453 913,49s 180,536 126,974 190,285 125,714 45 2 ,990 Reserve ratio (per cent) 71.7 60.8 76.0 74.1 69.3 50.2 •c2.0 80.2 62.1 62.0 63.2 54. 3 56.5 Contingent liability on bills purchased for foreign correspondents 100,118 .8,827 21,l4i 11,652 11,8 38 4,708 4,237 1 5,890 4,120 2,707 3,4l3 531 8,004 FTllhSAi RIS'^VE NOTES STAT1ILT Federal reserve notes: Issued to F.R. bank by F.R. agent 2,521,647 166,537 '-50,316 198,99s 295,625 88,697 127,466 554,411 81,843 60,823 79,521 43,142 271,267 Held by Federal reserve bank 423,854 23,708 144,265 27,011 35,001 6,610 15,251 93,304 5,223 3,655 9,441 7,529 47,856 In actual circulation 2,097,793 142,829 406,051 171,988 263,624 82,087 112,215 456,107 76,620 57,168 70,080 35.6l3 223,411 Collateral held by agent as security for notes issued to bank Gold and gold certificates 649,530 35,300 321,575 38,700 35,950 10,070 10,900 93,950 14,355 6,430 - 7,300 75,000 110,000 123,300 177,000 33,500 70,000 398,000 37,700 38,600 62,000 12,700 120,763 Gold fund - F. R. Board 1,2JS,180 94,617 Eligible paper 712,450 46,339 166,197 45,806 85,955 45,929 47,228 86,327 30,384 15,914 31,994 24,222 86,105 Total collateral 2,640,loO 176,306 597,772 207,806 298,905 89,499 128,128 578,277 82,439 60,944 93,994 44,222 281,868 MATURITY DISTRIBUTION OF BILLS AITD SHORT TISM SECURITIES 91 days to Total Within 15 days lo to 30 days 31 to oO days 6l to 90 days Over 6 months 6 months Bills discounted 327,925 245,975 19,562 35,058 21,808 4,966 556 Bills bought in open market 468,527 119,241 60,113 116,763 167,987 4,423 Certificates and bills 4I4,198 4,950 15,950 76,430 117,249 139,055 60,514 Municipal warrants 105 15 10 SO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis