H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEIIELOT FOR THE PRESS Released for publication B-517 Friday morning, Oct. 9; Federal Reserve Board, not earlier. October 8, 1931. CONDITION OF FEDERAL RESERVE BAHKS The daily average volume of Federal reserve "bank credit outstanding during the week ending October 7» as reported by the Federal reserve "banks, was $1> 757.000,000, an increase of $265,000,000 compared with the preceding week and of $715,000,000 compared with the corresponding week in 1930. On October 7 total reserve bank credit outstanding amounted to $1,839,000,000, an increase of $261,000,000 for the week. This increase corresponds with increases of $185)000,000 in money in circulation and $54,000,000 in unexpended capital funds, nonmember deposits, etc., and decreases-of $97,000,000 in monetary gold stock and $11,000,000 in Treasury currency, adjusted, offset in part by a decrease of $87,000,000 in member bank reserve balances. Holdings of discounted bills increased $70,000,000 at the Federal Reserve Bank of Hew York, $23,000,000 at Philadelphia, $15,000,000 at Cleveland, $10,000,000 each at Chicago and San Francisco and $135,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $112,000,000 and of United States bonds $19,000,000, while holdings of Treasury certificates and bills declined $22,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending October 7, 1931, were as follows: Increase or decrease since Oct. 7 Sent. 30 Oct. 8 1931 1931 1930 (in millions of dollars) Bills discounted 453 + 135 + 290 Bills bought 581 + 112 + 370 United States securities 738 - 4 + 138 Other reserve bank credit 56 + 17 + 28 TOTAL RESERVE BAM CREDIT 1,839 4- 261 + 827 Monetary gold stock 4,542 - 97 + 128 Treasury currency adjusted 1,765 - 11 - 19 Money in circulation 5,431 4- 185 + 944 Member bank reserve balances 2,277 - 87 - 131 Unexpended capital funds,nonmember deposits,etc. 537 + 54 + 121 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleasea for publication Friday morning, October 9,1931; not earlier. B-517a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BA.IKS COMBINED (in thousands of dollars) Oct. 7,1931 Sept. 30.1931 Oct. 8, 1930 R E S O U R C ES Gold with Federal reserve agents . . . 1,863,400 1,927,710 l,54g.,6o6 Gold redemption fund with U.S.Treasury 45,650 39,753 34,868 Gold held exclusively against F.R.notes i gog050 1,967,463 1,584,474 > ) Gold settlement fund with F.R. Board . 385,316 445,634 544,254 Gold and gold certificates held "by banks 742,534 725,034 847,200 •Total gold reserves 3,036,950 3,132,181 2,976,528 Reserves other than gold 156,198 162,364 149,625 Total reserves . . . 3,193,l4S 3,300,5-45 3,12a,153 3on-rosorvo cash 67,016 70,774 65,757 Bills discounted: Sec. by U.S. Government obligations 230,928 132,951 55,011 Other bills discounted 232,465 194,974 118,155 Total bills discounted 453,393 327,925 173,166 Bills bought in open market 581,356 468,527 211,023 U. S. Government securities: Bonds 327,682 309,185 38,253 Treasury notes 18,978 18,962 289,756 Certificates and bills 391,685 4l4,198 272,430 Total U.S.Government securities 738,345 742,345 600,439 Other securities 13,355 l4,405 6,272 Foreign loans on gold 4,'768 4,768 Total bills and .securities . 1,801,217 1,557,970 990,900 Due from foreign banks 8,748 8,752 702 F. R. notes of other banks 16,849 16,996 18,040 Uncollected items 519,010 478,91] 559,402 Bank premises 59,225 59,225 59,674 All other resources 39,815 36,359 12,475 TOTAL RESOURCES 5,705,028 5,529,534 4,833,103 L I A B I L I T I ES F. R. notes in actual circulation . . g 269 939 2,097,793 1,365,398 Deposits: Member bank - reserve account . . . 2,277,429 2,363,584 2,437,758 Government ' 30,'970 22,24] 33,233 Foreign bank 152,622 95,135 6,696 Other deposits 25^012 25,194 , 18,425 Total deposits 2,436,033 2,506,156 2,466,112 Deferred availability items 490,224 467,639 538,588 Capital paid in 166^570 166,759 170,555 Surplus 274,636 274,536 276,936 All other liabilities 17,576 16,551 15,514 TOTAL LIABILITIES . . . 5,705,028 5,529,534 4,833,103 Ratio of total reserves to deposit and F. R. note liabilities combined . . 67.1$ 71*7$ 81.6^ Contingent liability on bills purchased for foreign correspondents 80,809 100,118 435,194 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON OCTOBER 7, 1931 R E S O U R C ES (in thousands of dollars) B-517c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Txold with Federal reserve agents 1,363,400 1 29,91? 365,575 195,600 210,310 42,570 7 5,900 491,450 4?, 205 45,4lO 52,000 26,700 180,763 903 12,336 4,550 5,192 2,300 2,763 5,776 1,434 1,022 1,137 1,827 5,854 Gold held exclusively against F. R. notes 1,509,050 130,220 377,911 200,150 215,502 45,370 78,563 497,226 48,539 4466,,443388 53,137 28,527 136,517 Gold settlement fund with F.R.Board 385,316 22,697 107,518 22,952 41,367 17,556 8,819 54,441 18,570 12,134 20,654 18,858 33,640 Gold and gold cert if. held "by banks 742,584 37,242 510,394 .26,955 40,577 4,o64 9,042 59,355 10,689 4,536 7,142 4,552 27,535 Total gold reserves 3,036,950 195,759 956,323 250,057 297,446 67,000 96,524 011,023 77,998 53,103 80,933 51,937 247,792 Reserves other than gold 156,198 18,598 37,505 10,348 13,539 8,835 5,350 27,155 10,769 3,791 7,148 4,849 7,763 Total reserves 3,193,148 215,357 1,033,832 260,405 310,985 75,835 102,374 538,222 88,767 66,899 88,131 56,736 255,555 Hon-reserve cash 67,016 10,516 22,599 2,985 2,410 2,421 3,725 9,182 3,142 l, 444 1,520 2,782 4,290 Bills discounted: Secured "by U.S.Govt, obligations 230,92s 5,628 92,357 35,867 34,593 5,741 5,783 14,326 4,987 373 11,,224499 2,306 2266,,005588 Other bills discounted 232.465 5,133 31,076 36,073 26,371 22,851 24,967 13,560 8,706 3,526 14,676 13,770 31,756 Total bills discounted 463,353 11,761 123,433 71,940 61,o64 28,592 30,750 28,446 13,693 3,899 15,925 16,076 57,814 Bills bought in open market 581,356 53,359 171,599 9,137 52,656 28,105 26,751 92,05s 25,404 18,226 29,544 21,252 52,765 U. S. Government securities: Bonds 327,682 22,459 101,556 22,031 24,957 13,374 8,096 52,454 11,438 15,739 11,730 1166,,112244 2277,,664444 Treasury notes 18,978 2 5 3,403 3 2 2,409 4 3,503 18 l 1 9,627 Certificates and bills 391,685 32,355 124,144 30,910 47,125 18,182 11,835 45,948 16,270 12,123 17,384 5,150 26,248 Total U.S.Govt, securities 738,345 54,827 225,705 56,344 72,085 31,558 22,340 93,436 31,211 27,930 29,115 25,275 63,519 Other securities 13,355 960 5,750 1,260 - 700 500 1,790 630 535 - - 1,090 Foreign loans on gold 4.768 358 1,755 472 482 - 172 644 156 110 133 143 324 Total bills and securities 1,801,217 121,765 528 , 286 139,153 186,287 88,955 80,613 2a,374 71,104 50,700 74,722 62,746 175,512 Due from foreign banks 8,748 689 3,213 910 881 349 314 1,241 25 17 253 262 594 F. R. notes of other banks 16,849 302 6,869 112 723 1,171 699 2,693 1,377 54O 328 318 1,217 Uncollected items 519,010 57,648 171,779 44,128 46,727 35,780 11,312 53,862 20,838 9,716 24,787 16,274 26,159 Bank premises 59,225 3,458 15,240 2,6I4 7,805 3,655 2,573 3,061 3,635 1,926 3,804 1,832 4,622 All other resources • 39,815 1,097 17,569 1,536 2,184 1,904 3,452 3,34o 1,263 1,374 1,067 3,481 1,548 TOTAL RESOURCES 5,705,028 410,832 1,799,387 451,843 558,002 a0,070 205,0629 37,975 190,151 132,616 195,112 144,481 469,497 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES' ASTD LIABILITIES OF THE l^DEESL' 'EBSERVE BA27KS' OH OCTOBER 7, 1931 L I A B I L I T I ES (In thousands of dollars) B-517C Total Boston New York Phila. CIeve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,269,9Q8K9Q 145,424 445,967 219,834 278,551 83,029 115,482 483,543 78,416 60,790 71,867 50,638 230,337 Deposits: Member bank - reserve account 2,277,429 163,115 9" 3,652'130,243 164,956 ,960 52,171 317,304 65,388 46,924 79,130 54,182 i5l,4o4 Government 30,970 752 •7,378- 2,220 2,846 1,897 1,913 1,355 1,340 1,947 3,616 l,94l 3,765 Foreign "bank 4-152,622 11,125 53,087- l4,i 14,932 5,934 5,340 20,026 5,192 3,412 4,302 4,450 10,087 Other deposits 25,012 52 1,9% 1i '4,493 128 105 537 229 270 780 599 8,503 Total deposits 2,486,033 175,044 1,053,057+147,224 187,277 68,787 59,513 340,080 72,154 51,946 86,159 62,847 181,935 Deferred availability items 490,224 56,965 148,793 4o,b32 46,303 34,605 11,846 52,462 22,452 8,953 23 , 623 17,034 26,551 Capital paid in lb6,570 11,771 64,542, 16,723 15,530 5,654 5,211 19,452 4,780 2,981 4,205 4,172 11,349 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,357 39,935 10,562 7,144 8,702 8,936 18,475 All other liabilities 17,576 329 5,348 165 1,270 881 2.147 __2J2L„ 1,777 802 55i_ sf4 850 TOTAL LIABILITIES 5,705,028 410,832 1,799,387 451,843 553,002 210,070 205,062 937,975 190,151 132,61S 195,112 144,481 5,497 Reserve ratio (per cent) ,7.1 67.2 63 .9 70.9 65.8 43.4 58.5 77.5 59.0 59.3 55-3 50.0 52.0 Contingent liability on bills purchased for foreign correspondents 80,809 6,o49 35,687 7,935 8,147 3,226 2,904 10,889 2,823 1,355 2,339 2,420 5,485 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent 2,684,753 163,792 536,887 239,820 312,428 ^6,644 130,113 537,123 32,801 54,171 80,833 51,314 273,827 Held by Federal reserve bank 4i4,764 23,363 139,920 19.986 33.877 3.615 14,625 103,475 4,335 3,381 8.966 10,676 43,4go In actual circulation 2,269,939 145,424 445,967 219,834 273,551 83,029 115,488 483,548 73,4iS 60,790 71,867 50,638 230,337 Collateral held by agent as security for notes issued to bank Gold and gold certificates 690,020 35,300 345,575 38,700 38,310 10,070 10,900 93,450 14,005 6,4io 7,300 90,000 Gold fund - F. R. Board 1,173,380 94,617 20,000 155,900 172,000 32,500 65,000 393,ooo 33,200 39,ooo 52,000 i9,4oo 90,763 Eligible paper q54K 282 61,331 259,486 67,456 108,051 54,370 55,439 113,293 37,468 20.725 43,350 35,091 107,212 Total collateral 2,827,582 191,74s 625,061 263,056 318,351 9M4o 131,339 5o4,743 3 4,673 5 5,135 95,sSo 61,791 287,975 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 453,393 367,549 27,349 36,942 25,347 5,032 524 Bills bought in open market 531,356 134,714 79.619 148,37 2 213,489 5,162 Certificates and bills 391,585 5,030 30.620 73,541 95,324 121,145 60,525 Municipal warrants 105. 15 10 80 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis