H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-539 Friday morning, Oct. 30; Federal Reserve Board not earlier. October 29, 1931• CONDITION OF FEDERAL RESERVE BA1JICS The daily average volume of Federal reserve "bank credit outstanding during the week ending October 28, as reported by the Federal reserve banks, was $2,232,000,000, a decrease of $46,000,000 compared with the preceding week and an increase of $1,241,000,000 compared with the corresponding week in 1930. On October 28 total reserve bank credit amounted to $2,211,000,000, a decrease of $27,000,000 for the week. This decrease corresponds with decreases of $24,000,000 in money in circulation, $47,000,000 in member bank reserve balances and $19,000,000 in unexpended Capital funds, nonmember bank deposits, etc., offset in part by decreases of $49,000,000 in monetary gold stock and $13,000,000 in Treasury currency, adjusted. Holdings of discounted bills declined $20,000,000 at the Federal Reserve Bank of Hew York, and increased $10,000,000 at Chicago, $9,000,000 at Cleveland, $5,000,000 at Atlanta, $5,000,000 each at Philadelphia and Kansas City and $19,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $44,000,000, while holdings of United States securities were practically unchanged. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending October 28, 1931, were as follows: Increase or decrease since Oct. 23 Oct. 21 Oct. 29 1931 1931 1930 (In millions of dollars) Bills discounted 717 + 19 + 515 Bills bought 725 - 44 + 559 United States securities 727 + 126 Other reserve bank credit 42 - 2 + 25 TOTAL RESERVE BALTIC CREDIT 2,211 27 +1,226 Monetary gold stock 4,287 49 - 245 Treasury currency adjusted 1,7-51 13 - 30 ioney in circulation 5,480 24 +1,054 [ember bank reserve balances 2,229 47 - 239 Unexpended capital funds,nonmember deposits,etc. 550 19 + 134 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Oct. 30,1531; not earlier. B-"39a RESOURCES AZD LIABILITIES OP TH3 TWELVE F333RAL BSS&IVB BANKS COMBINED (in thousands of dollars) Oct. 28.1931 Oct. 21.1931 Oct. 29,1930 HE S O U R C ES Gold with Federal reserve agents 1,519,190 1,537,885 1,590,116 Gold redemption fund with U.S.Treasury . , 70,171 68,127 34,755 Gold hold exclusively against F.B.notes 1,589,361 1,506,012 1,524,871 Gold settlement fund with F. H. Board . . 379.959 339,691 504,355 Gold and gold certificates held by banks . 769111 818, UlU 907,957 Total gold reserves 2,738,431 2,764,117 3,037,193 Reserves other than gold 164.420 163,277 154,531 Total reserves 2,902,551 2,927,394 3,191,774 Eon-reserve cash . 71,740 69,149 71,364 Bills discounted: Sec. by U.S. Government obligations 330,747 300,064 71,572 Other bills discounted 385,933 398,247 130,031 Total bills discounted . . . . 716,680 693,311 201,603 Bills bought in open mar Ice t 724,680 769,066 165,658 U. S. Government securities: Bonds 316,422 316,470 38,195 Treasury notes . 22,829 22,828 287,827 Certificates and bills 387.708 387,706 275,4i6 Total U.S. Government securities . 726,959 727,004 501,438 Other securities 2Q.919 30,017 5,322 Total bills and securities . . . 2,198,238 2,224,39s 975,021 Dae from foreign banks 8,792 8,760 701 F. B. notes of other banks 16,863 16,931 17,091 Uncollected items 432,57° 483,455 526,697 Bank premises . 59,382 59,382 59,632 All other resources . .. 41.104 37,533 13,903 TOTAL RESOURCES . . .. 5,731.549 5,227,102 4,856,183 L I A B I L IT I E S F. R. notes in actual circulation . . .. 2,383,948 2,383,362 1,3:4,881 Deposits: liiember bank - reserve account 2,228,875 2,275,506 2,468,280 Government 3^,141 24,492 26,674 157,618 160,910 ',014 Foreign bank Other deposits 34,431 46,350 19,443 Total deposits 2,460,065 2,507,258 2,519,411 Deferred availability items 428,g,6ar - 478,116 517,004 z Capital paid in l64,6§0-""V/ 164,658 170,444 274,636 274,636 275,936 Surplus All other liabilities __ 19,389 19,062 17,507 TOTAL LIABILITIES . . . 5,731,549 5,827,102 4,855,183 Ratio of total reserves to deposit and F. It. note liabilities combined . . . 59 . 96h 53-3fo 82.4 $ Contingent liability on bills purchased for foreign correspondents . . . . .. 82,879 68,335 433,529 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BA-IXS OH OCTOBER 28, 1931 R E S O U R C ES (In thousands of dollars) B-539 Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Go"1 d with Federal reserve agents 1,519,190 9:S,527 299,950 191,000 194,430 49,670 52,900 4l3,l40 35,335 35, 595 31,580 21,500 95,763 'JoId redemption fund with TT.R-frea.aurv 70.171 4.89? 17.?S4 5.527 7.630 3.0% 4,437 8.7SQ UJt5 SJ&Z MZL Gold held exclusively against 1,589,361 101,519 196,527 202,110 23,922 F. R. notes 317,234 52,720 57,337 421,900 39,257 37,420 34,525 104,590 160,566 Gold settlement fund with F. R. Board 379,959 9,630 18,103 38,177 1-5,951 8,774 42,039 14,7^7 12,097 lo,Sl5 17,802 24,458 Gold and gold cert if. held "by tanks 769rlH 36.085 529.945 33.523 26.425 5.218 9.403 62,606 12,181 5,6o4 10,010 3,932 34,03^ 61,450 45,656 163,037 Total gold reserves 2,738,431 147,234 1,007,745 245,153 255,712 74,839 75,51^ 525,525 65,185 55,181 Reserves other than gold 164.420 1 8 . 408 38.152 10.738 13.368 9 . 281 5,q48 30,5l5 10,233 4,228 o,277 2,55^ tt,o07 Total reserves 2,902,851 165,642 1,045,907 258,891 280,080 84,170 81,562 557,i4l 76,418 59,409 69,727 52,210 171,694 jlon-reserve cash 71,740 10,253 22,345 3,532 3,322 2,929 3,9^7 9,580 3,338 1,772 1,955 2,800 5,257 Bills discounted: 7,988 69,261 Secured "bv U.S.Govt, obligations 330,747 11,7 22 58,103 39 , 275 50,369 1 2,7^5 11,712 52,101 10,592 1,529 5,345 Other bills discounted 365.933 7.254 30.542 63.924 50,948 29,819 35,444 19,355 13,672 4,840 25.397 19.479 35.259 47,156 5,369 Total bills discounted 716,680 18,976 133,550 103,199 101,317 42,564 71,456 24,254 33,385 24,824 104,520 16,566 Bills bought in open market 724,680 75,588 201,054 15,707 56,24] 37,512 116,744 31,478 25,622 4l>106 22,4ll 84,539 U. S. Government securities: 23,650 6,058 Bonds 316,422 108,887 22,932 25,543 ll,01b 53,460 11,438 14,549 7,711 12,364 18,314 Treasury notes 22,829 195 2,526 3,557 219 95 2,460 273' 3,595 60 31 25 9,782 Certificates and bills 3^7,703 33.945 132.532 32.086 47.781 16.295 8.786 47:131 16,177 10,270 11,373 4,g4l 27,091 Total U.S.Govt, securities 726,959 57,790 243,945 58,585 73,543 27,4o6 17,304 100,364 31,211 24,879 19,115 17,130 55,187 6,760 609 Other securities 29,919 1,970 14,585 700 oOO 2,035 630 - - 1,980 Total bills and securities 2,198,238 154,424 598,244 184,251 231,103 87,236 102,572 291,149 87,583 57,479 93,6o5 64,365 246,226 Due from foreign banks 8,792 690 3,248 9H 883 350 315 1,243 26 17 253 262 59^ F. R. notes of other banks lo,S53 233 5,566 163 953 1,152 853 2,446 1,533 733 1,202 327 1,552 51,007 129,012 32,651 10,863 Uncollected items 432,579 36,9^2 4i,653 47,937 18,291 8.185 20,971 13,315 21,74l Bank premises 59,382 3,458 15,240 2,Sl4 7,902 3,715 2,572 8,05l 3,536 1,926 3,804 1,832 4,622 All other resources 41,104 1,049 1 4,985 2.132 5.24-9 2.467 3.57 2 2. 3o7 2,259 1 • 399 2J12 3> 4q7 ljj-50 386,756 206,256 130,920 192,516 TOTAL RESOURCES 5,731,549 1,835,147 489,536 571,155 214,670 920,044 193,134 138,579 452,836 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AHD LIABILITIES OP THE FEDERAL RESERVE BAEKS Oil OCTOBER 28, 1931 L I A B I L I T I ES (in thousands of dollars) B-539c Total Boston New York phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. 5\2„ notes in actual circulation 2,353,5^8 147,813 471,325 262,307 304,325 96,686 117,548 483,581 84,84s 61,922 76,455 50,557 226,417 DtiuCR-ts: l.l~;..:b3r "bank - reserve account 2,228,875 142,418 1,004,31 130,580 153,557 57,429 50,808 303,143 62,636 43,92s 75,175 52,829 152,057 Government 39,i4I 1,315 10,042 1,917 3,oi4 3,736 2,914 3,533 2,929 2,342 2,305 1,491 3,492 "foreign bank 157,618 11,432 55,342 15,090 15,395 6,097 5,487 20,577 5,335 3,506 4,420 4,572 10,365 Other deposits 34,431} 23 18,199 203 7,519 152 90 a 42 258 >-:io 92 167 6,676 Total deposits 2,460,065/155,188 1,087,898 147,790 179,485 57,4i4 59,299 327,945 71,218 50,186 81,993 59,059 172,590 Deferred availability items 422, So I 50,222 125,152 35,118 41,454 31,599 10,99% 47,550 20,326 7,787 20,567 14,577 23,017 Ccpital paid in 164,65a 11,771 54,192 16,721 15,332 5,572 5,203 18,403 4,768 2,974 4,203 4,151 11,358 F ; > U - i , i r -n l11 q 274,535\ 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,552 7,144 8,702 2,935 18,475 All other liabilities 19,339 463 6,002 535 1,527 885 2,255 2,629 1,412 907 596 1,199 979 TOTAL LIABILITIES i,731,549 385,756 1,835,147 459,536 571,155 214,670 206,256 920,044 193,134 130,920 192,510 138,579 452,836 Re: erve ratio (per cent) RQ• 9 I 54.7 67.I 63.1 57.9 51.3 46.1 68.7 49.0 53.0 44.0 47.x I 43.0 Contingent liability on bills pur- ^ chased for foreign correspondents 82,879 >,975 29,425 7,387 8,o46 3,187 2,808 10,754 2,788 1,832 2,310 2,390 5,417 FEDERAL RESERVE '.TOTE STATEMENT Federal reserve notes: Issued to F.R. banlc by F.R.ayent 2J20,052 180,828 520,103 255,921 341,245 105,577 134,245 571,750 89,824 64,928 87,669 269,933 64,939 Held by Federal reserve bank 336,ll4 33,015 48,775 25,5l4 36,859 8,991 15,597 88.169 4.976 3.005 11,214 14.382 43.516 In actual circulation 2 ,383,948 147,813 471,328 262,307 304,385 96,686 117,548 483,581 84,848 61,922 75,4: 55 50,557 226,417 Collateral held by agent as security for notes issued to bank Gold and gold certificates 590,510 42,010 219,950 38,700 57,430 10,070 10,900 92,140 14,635 7,495 9,880 12,300 75,000 Gold fund - F. R. Board 928,680 54,517 80,000 152,300 137,000 39,600 42,000 321,000 22,200 28,200 21,800 9,200 20,763 Eligible paper 1,338,851 88,784 295,745 104.704 149.834 57,011 82.356 177.233 53.191 30.459 71.988 43.878 183.6% Total collateral 2,858,041 185,411 595,695 295,704 344,264 106,581 135,256 590,373 90,026 55,154 103,: 55,378 279,421 MATURITY BISTRBU TIIOOHH OOFF BBIILLLLSS AAIIJJDD SSHHOORRTT TTEZRIu:'' Si ECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to QO days Over 6 months 5 months Bills discounted 715,580 496,9 25 52,234 102,795 51,075 12,390 1,261 Bills bought in open market 724,580 113,109 114,504 275,279 214,263 7,525 Certificates and bills 387,703 25,395 51,390 106,760 17,602 121,046 65,515 Municipal warrants 2,429 10 250 2,156 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis