H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATS:,EIJT FOR THE PRESS Released for publication B-53H Friday morning, Oct. 23", Federal Reserve Board not earlier. October 22, 1931 • CONDITIO!! OF FEEERAL RESERVE BAiTlCS The daily average volume of Federal reserve "bank credit outstanding during the week ending October 21, as reported by the Federal reserve banks, was . $2,272,000,000, an increase of $242,000,000 compared with the preceding week and of 31,250,000,000 compared with the corresponding week in 1930. On October 21 total reserve bank credit outstanding amounted to ?2,238,000,000, an increase of $113,000,000 for the week. This increase corresponds with increases of $53,000,000 in member bank reserve balances and $31,000,000 in money in circulation and a decrease of $28,000,000 in monetary gold stock, offset in part by a decrease of $59,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills declined $47,000,000 at the Federal Reserve Bank of Hew York and increased $29,000,000 at San Francisco, $22,000,000 at Chicago, $16,000,000 at Cleveland, $10,000,000 at Atlanta, $9,000,000 at Richmond and $70,000,000 at all Federal reserve banks. The System's holdings of bills Dought in open market increased $39,000,000 and of Treasury notes $4,000,000, while holdings of United States bonds declined $2,000,000 and of Treasury certificates and bills $3,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending October 21, 1931. were as follows: Increase or decrease since Oct. 21 Oct. l4 Oct. 22 iq~31 1931 1930.,,- (In millions of dollars) Bills discounted o9S + 70 + 50b Bills bou ;ht 769 + 39 + 592 United States securities 727 + 125 Other reserve bank credit 44 + 5 + 23 +113 +1,246 TOTAL RESERVE BAHK CREDIT - 88 - 127 Monetary gold stock - 1 - 14 Treasury currency adjusted + 31 +1,054 Money in circulation 5 , 5 0^ ember bank reserve balances 2,276 + 53 - 161 Unexpended capital funds,nonmember de )osit$, etc. 569 - 59 + 153 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Oct. 23,1931*. not earlier. B~534a RESOURCES AITD LIABILITIES OF THE TTvELVE FEDERAL RESERVE BAIES COMBINED (In thousands of dollars) Oct. 21,1931 Oct. 14,1931 Oct.22,1930 R E S O U R C ES Gold with Federal reserve agents 1,537,825 1,653,575 1,571,706 Gold redemption fund with U.S. Treasury- 5s,127 57,028 34,771 Gold held exclusively against F.R.notes 1,606,012 1,710,603 1,606,477 Gold settlement fund with F. R. Board . . 339,691 323,436 516,204 Gold and gold certificates held by hanks . 818,4l4 736,925 293,872 Total sold reserves 2,764,117 2,836,014 3,016,559 Reserves other than gold . . .. 163,277 157,726 151,724 Total reserves 2,927,394 2,993,800 3,162,283 Uon-reserve cash 6699,,114499 63,838 70,690 Bills discounted: Sec. "by U.S. Government obligations . . 300,064 292,457 70,259 Other bills discounted 398,247 329,122 121,725 Total bills discounted . . 698,311 627,579 191,924 769,066 730,407 176,590 U. S. Government securities: Bonds 316,470 317,734 38,840 Treasury notes . 22,828 18,962 283,717 Certificates and bills 387,706 390,735 279,472 Total U.S.Government securities 727,004 727,431 602,029 Other securities 30,017 19,026 6,297 Total bills and securities . 2,224,398 2,104,443 976,900 2,760 8,762 2,159 F. R. notes of other banks 16,931 17,995 18 ,880 483,455 637,436 586,317 Bank premises 59,322 59,310 59,631 All other resources 37,633 4o,90b 13,774 TOTAL RESOURCES 5,827,102 5,926,490 4,296,634 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,383,362 2,321,217 1,368,512 Deposits: Member bank - reserve account 2,275,506 2,223,023 22,,443377,,009955 Government 24,492 27,444 27,581 Foreign bank lb0,910 231,337 5,321 46,350 37,487 19,423 Total deposits 2,507,253 2,519,341 2,429,420 Deferred availability items 472,116 626,073 573,784 Capital "oaid in 164,662 165,286 170,406 Surplus 274,636 274,636 276,936 All other liabilities 19,062 18,732 17,576 TOTAL LIABILITIES 5,827,102 5,926,490 4,396,634 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 59.9% 6611..22## 22.1$ Contingent liability on bills pure lias ed for foreign correspondents 62,335 40,571 443377,,228899 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAMS OlT OCTOBER 21, 1931 R E S O U R C ES (In thousands of dollars) B-534b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran Gold with Federal reserve agents 1,537,885 109,91? 299,950 191,000 191,030 49,170 54,900 413,350 35,105 33,980 31,620 22,000 100,?6 Gold redemption fund with U.S.Treasury 68,127 3,903 17,336 Gold held exclusively against F. R. notes 1,606,012 113,220 317,226 196,532 192,222 52,170 58,663 427,156 37,538 35,708 34,267 24,425 109,6o( Gold settlement fund with F.R. Board 339,691 17,317 136,395 24,457 41,737 15,128 6,648 23,309 12,129 11,671 13,432 16,624 14,72= Gold and gold cert if. held "by "banks sig,4i4 41,495 547,992 32,924 32,231 4,54s 9,096 75.269 12,693 5,933 9,175 4,225 42,76 Total gold reserves 2,764,117 172,632 1,001,679 253,919 272,190 71,906 74,407 525,744 62,360 53,312 57,474 45,334 167,i6< Reserves other than gold 163,277 20,048 38,920 10,968 13,268 2,44o 5,794 29,116 10,236 4,216 7,513 6,310 • 7,8* Total reserves 2,927,39% 192,620 1,o4O,599 264,887 285,452 20,346 80,201 554,860 79,196 57,528 64,927 51,644 175,001 Mon-reserve cash 69,149 11,38? 20 , 591 3,952 3,512 2,258 3,730 9,530 3,047 1,564 2,016 2,539 4,42: Bills discounted: Secured "by U.S.Govt, obligations 300,064 12,252 56,472 33,6o4 44,979 11,000 7,019 44,702 2,524 3,717 6,010 5,273 65,24( Other "bills discounted 398,247 7,666 102,554 64,645 47,426 29,070 34,026 16,216 12,6O4 4,542 22,557 12,466 37,75; Total "bills discounted 698,311 19,918 159,032 92,249 92,465 4o,o?o 41,105 61,512 a, 128 8,259 22,567 24,339 103,601 Bills bought in open market 769,066 78,920 214,149 14,667 57,566 20,562 40,355 126,527 33,932 2266,,991199 47,662 2233,,885511 8833,,9955^^ U. S. Government securities: Bonds 316,470 23,415 107,924 22,675 25,333 11,016 8,134 53,05s 11,432 14,522 7,711 12,264 I2,3ll Treasury notes 22,828 193 2,519 3,565 217 95 2,476 269 3,596 So 31 25 9,72; Certificates and bills 327,706 33,597 131,195 31,702 47 , 471 16,295 11,757 46,537 16,177 10,270 11,373 4,241 27,09] Total U. S. Govt, securities 727,004 57,205 241,692 57,942 73,021 27,4O6 22,367 99,864 31,211 24,852 19,115 17,130 55,18/ Other securities 30,017 1,995 14,685 6,760 - 700 600 2,025 630 557 - — 2,00c Total bills and securities 2,224,39s 158,03s 629,564 177,612 223,052 88,738 104,427 229,994 86,961 60,593 95,344 65,320 244,74c Due from foreign banks 8,760 690 3,217 911 883 350 315 1,243 25 17 253 262 59I F. R. notes of other banks 16,931 220 5,665 138 749 1,364 762 3,031 1,070 669 1,074 30 4 1,88* Uncollected items 483,455 58,015 134,908 41,599 46,782 35,870 12,383 55,757 19,264 9,606 24,203 16,605 27,263 Bank premises 59,382 3,458 15,240 2,6I4 7,902 3,715 2,573 2,061 3,635 1,926 3,204 1,832 4,622 All other resources 37,633 1,072 14,726 2,208 2,756 2,31s 3,596 2,541 1,347 1,376 1,056 3,412 1,21s TOTAL RESOURCES 5,827,102 425,566 l,s64,5io 493,92? 571,094 215,559 207,927 925,017 195,145 133,279 193,337 l41,912 459,763 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AI\fD LIABILITIES OF TEE FEDERAL RESERVE BAUKS OlsT OCTOBER 21, 1931 L I A B I L I T I ES (In thousands of dollars) B-534C Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. I.E.notes in actual circulation 2,383,362 155,939 467,360 260,551 295,914 97,926 118,178 487,766 83,420 62,292 76,102 49,846 228,068 Deposits: Member bank - reserve account 2,275,506 163,249 1,029,,657 131,592 157,275 57,194 50,128 295,533 65,215 45,655 74,23 2 52,244 153,477 Government 24,492 1,814 5,283 1,696 2,860 569 2,690 2,511 l,4l6 1,279 1,169 2,322 823 Foreign tank 160,910 12,507 49,011 16,510 16,843 6,671 6,003 22,513 5,8j3,7837 3,836 4,83b 5,003 11,340 Other deposits 46,350 83 83 29,82399,839 184 184 77,,331133 178 75 111, 6qi 224 291 310 154 6.958 Total deposits 2,507,253 177,653 1,113,340 149,982 184,291 64,612 52,896 321,253 72,692 51,061 80,597 59,783 172,593 Deferred availability items 478,116 58,442 132,527 39,073 45,111 34,438 12,607 55,062 22,290 8,921 23,131 18,202 28,307 Capital paid in 164,068 11,771 64,209 lb,723 1 5,327 5,581 5,211 18,41b 4,770 2,976 4,205 4,136 11,343 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,536 10,562 7,144 8,702 8,936 18,475 All other liabilities 19.062 462 5.999 528 1.480 888 2.238 2.584 1.411 885 600 1.015 312_ TOTAL LIABILITIES 1 ,827,102 425,566 1,864,510 493,927 571,094 215,559 207,987 925,017 195,145 133,279 193,337 141,913 459,763 Reserve ratio (per cent) 59.9 57.8 65.8 64.5 59.4 49.4 45.3 68.6 50.7 50.8 41.5 47.1 43.7 Contingent liability on bills purchased for foreign correspondents 68,335 4,554 27,595 6,011 6,132 2,429 2,186 8,196 2,125 1,396 1,761 1,821 4,129 FEDERAL RESERVE 2T0TE STATE: ZE-vI Federal reserve notes: Issued to F.R. bank by F.R.agent 2,715,018 184,552 517,007 288,505 331,856 106,600 133,132 576,315 87,178 66,566 87,1£7 64,020 272,120 Held by Federal reserve bank 331,656 28,613 49,647 27,954 35,942 8,674 14,954 88,549 3,758 4,274 11,065 14,174 44,052 In actual circulation 2,383,362 155,939 467,360 260,551 295,914 97,926 118,178 487,766 83,420 62,292 76,102 49,846 228,068 Collateral held by agent as security for notes issued to bank Gold and gold certificates 559,705 35,300 219,950 38,700 49,030 10,070 10,900 73,390 13,905 6,280 9,880 12,300 75,000 Gold fund - F. R. Board 978,180 74,617 80,000 152,300 142,000 39,100 44,000 340,000 21,200 27,700 21,800 9,700 25,763r - Eligible paper 1,369,840 93,512 325,314 103,744 143,008 58,448 79,102 178,089 52,810 33,662 73,979 45,376 182,796 Total collateral 2,907,725 203,429 625,264 294,744 334,038 107,618 134,002 596,479 87,915 67,642 105,659 67,376 283,559 MATURITY DISTRIBUTION OF BILLS AITD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Ov jr 6 months 6 months .V/ A Bills discounted 698,311 464,401 51,340 94,234 10, -em- Bills bought in open market 769,066 124,886 103,446 248,307 7,804 Certificates and bills 387,706 10,620 38,836 135,039 16,652 121,044 65,515 Municipal warrants 2,377 15 260 2,088 i4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis