H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-564 Friday morning, Hov. 20; Federal Reserve Board not earlier. November 19, '1931* CONDITION OF FEDERAL RESERVE BASICS The daily average volume of Federal reserve bo.uk credit outstanding during the week ending November IS, as reported by the Federal reserve "banks, was $2,036,000,000, a decrease of $59>000,000 compared -jith the preceding woek and an increase of $1,009,000,000 compared with the corresponding week in 1930. On November IS total reserve bank credit amounted to $1,972,000,000, a decrease of $92,000,000 for the week. This decrease corresponds with decreases of £?46,000,000 in money in circulation and $18,000,000 in unexpended capital funds, nonmember deposits, etc., and increases of $24,000,000 in monetary gold stock and $29,000,000 in Treasury currency, adjusted, offset in part by an increase of v2F,000,000 in member bank reserve balances. Holdings of discounted "bills increased $5,000,000 at the Federal Reserve Bank of Boston, and decreased $8,000,000 at Chicago, $7,000,000 at Cleveland, $6,000,000 at Hew York and $22,000,000 at all Federal reserve banks. The System's holdings of "bills bought in open market declined $63,000,000 and of Treasury notes $3,000,000, while holdings of Treasury certificates and bills increased $3,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending ITovember IS, 1931, were as follows: Increase or decrease since ilov. IS Ho v. 11 Nov. 19 1931 1931 1930 (in millions of dollars) Bills discounted 662 — 22 + 457 Bills bought 534 63 + 356 - United States securities 727 +131 — Other reserve "bank credit 48 S + 24 - TOTAL RESERVE BAH CREDIT 1,972 92 + 969 Monetary gold stock 4,370 + 24 - 186 Treasury currency adjusted 1,775 + 29 - s Honey in circulation 5,471 46 + 989 Eember bank reserve balances 2,124 + 25 -.325 Unexpended capital funds,nonmember deposits,etc. 522 IS + 110 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, Nov. 20,1931; not earlier. Br56Ha RESOURCES AND LIABILITIES OF THE TWELVE 3EZERAL COMBINED R3S3HYE BAMS (in thousands of dollars) Nov. 18,1931 Nov. 11.1931 Nov.iq.1930 R E S O U R C ES Gold with Federal reserve agents 1,710,206 1,635,206 1,589,056 Gold redemption fund with U.S.Treasury . . 70,517 70,337 35,082 Gold held exclusively against F.R.notes 1,781,423 1,706,143 1,624,13s Gold settlement fund with F. R. Board . . 34Q, o01 396,579 500,471 Gold and gold certificates held by banks . 743,752 723,825 916,373 Total gold reserves 2,874,776 2,825,647 3,o4o,982 Reserves other than gold l6s,o46 162,737 150,302 Total reserves 3,042,822 2,989,384 3,191,284 Non-reserve cash 70,438 67,364 68,395 Bills discounted: Sec. by U.S.Government obligations . . . 314,356 327,026 76,357 Other bills discounted 347,585 356,738 128,680 Total bills discounted . . .. 6o2,04l 683,754 205,037 Bills bought in open market 534,017 178,273 596,752 U. S. Government oecurities: Bonds 316,505 316,852 39,110 'Treasury notes 23,96s 26,950 257,037 Certificates and bills 385,586 383,661 299,626 Total U.S.Government securities 727,059 727 , 453 595,773 Other securities 6,297 33,029 31,599 Total bills and securities . . .. 1,956,146 2,039,578 985,380 Dae from foreign banks 8,706 8,709 705 F. R. notes of other banks 17,804 17,739 18,839 Uncollected items . . 494,794 477,643 613,143 Bank promises 59,462 59, 4lo 59,702 All other resources 42,442 44,369 21,564 TOTAL RESOURCES . . .. 5,592.,6I4 5,704,196 4,959,012 L I A B I L I T I ES F. R. notes in actual circulation . . .. 22,,443333,,339922 2,449,959 1,383,604 Deposits: Member bank - reserve account 2,123,875 2,098,533 2,448,746 Government 49,600 23 , 571 37,137 Foreign bank 137,415 133,008 5,433 Other deposits 27,523 52,208 22,879 Total deposits 2,312,484 2,333,349 2,514,195 Deferred availability items 488,ObO 461,933 595,772 Capital -oaid in 164,074 164,441 170,455 Sur plus 274,636 274,636 276,93b All other liabilities 19,958 19,878 18,050 TOTAL LIABILITIES . . .. 5,692,614 5,704,196 4,959,012 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 64.1^ 62.5% 81.9$ Contingent liability on bills purchased for foreign correspondents 114,685 108,862 428,561 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OP THE FEDERAL RESERVE BAluCS Oil HOYE1BER IS, 1931 R E S O U R C ES (In thousands of dollars) B-5-64b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San. Frar Gold with Federal reserve agents 1,710,806 101,62? 347,336 108,000 a6,4?0 55,170 59,150 44S,1>K) 43,635 43,835 36,680 26,000 134,763 Gold redemption fund with U.S.Treasury 70,617 4,304 16,972 6,375 7,550 2,800 4,362 9,67s 2,409 1,315 3,137 2,4l7 8,798 Gold held exclusively against 63,512 45,150 143,561 F. b. notes 1,781,423 106 , 431 364,308 204,375 224,020 57,970 457,818 l!o,044 39 , 817 28 , 417 7,765 11,063 26,433 Gold settlement fund with F.R.Board 349,601 122,377 18,775 4?,304 8,364 15,990 9,412 21,468 l6,l43 44,507 13,203 6,543 11,119 26,117 Gold and gold certif. held by banks 743,752 32,4o8 515,070 34,139 21,575 6,264 9,494 63,993 3,827 75,297 61,105 Total gold reserves 2,874,776 l46,b04 1,001,755 257,289 292,899 81,370 548,244 75,237 72,4o4 48,387 214,185 Reserves other than gold 168,046 20,181 36,522 12,612 13,501 8,4o6 6,190 30,667 11,529 4,4l7 7,476 7,171 9,074 Total reserves 3,042,822 166,785 1,038,277 269,901 30b,700 83,703 87,560 578,911 86,766 65,522 79,880 55,558 223,259 10,025 5,223 Jon-reserve cash 70,438 11,379 19,698 3,469 4,56i 2,903 3,981 3,059 1,551 1,787 2,702 Bills discounted: 61,900 45,9a 913 49,185 Secured by U.S.Govt, obligations 314,356 16,823 47,711 10,794 13,974 42,567 11,949 7,970 4,649 7,256 16,933 Other bills discounted 347,685 8,939 47,623 Si,97: 47,113 28,838 37,354 18,074 13,522 24,126 35,932 Total bills discounted 662,o4i 25,762 109,523 107,896 94,824 39,632 51,328 6o,64i 25,471 8,169 32,096 a,582 85,117 Bills bought in open market 534,017 58,470 144,595 6,914 36,647 16,150 29,797 90,044 24,304 17,244 34,376 17,521 57,955 U. S. Government securities: 316,505 23,501 25,358 7,677 18,159 Bonds 107,938 22,784 ll,016 6,o4l 53,37-3 11,411 15,844 13,398 209 2,456 8b 27 107 Treasury notes 23,968 188 3,6l4 3,559 95 aSl 3,552 9,774 Certificates and bills 386,586 33,658 129,674 31,768 4?,384 16,295 8,690 46,844 i6,081 12,054 11,255 6,125 26,758 Total U.S. Govt, securities 727,059 57,34? 24i,226 5S,ni 72,951 2?,4o6 17,18? 100,483 31,084 27,984 18,959 19,630 54,691 Other securities 33,029 1,910 15,690 7,825 - ?00 bOO 3,085 630 6?9 - 1,910 Total bills and securities 1,956,146 143,439 511,034 180,?46 204,422 83,888 98,912 254,253 81,489 54,0?6 85,431 58,733 199,673 8,?o6 690 26 Due from foreign banks 3,162 911 883 350 315 1,243 1? 253 2o2 594 F. R. notes of other banks 1?,804 21? ?,0o4 469 995 1,654 879 2,379 1,258 638 623 33 2 1,296 Uncollected items 494,794 57,291 138,375 44,054 46,565 36,009 13,37 7 57,122 20,3^0 9,957 25,775 17,5-37 27,842 Bank premises 59,462 3,458 15,240 2,6l4 ?,982 3,?l6 2,572 3,06l 3,635 1,926 3,S04 1,832 4,622 2,678 All other resources 42,442 1,071 15.186 2,037 5,936 3,594 2,188 2,164 1,580 1,463 3,433 1,062 TOTAL RESOURCES 5,692,614 384,380 1,748,036 504,251 578,144 214,901 211,190 914,182 199,237 135,267 199,016 140,439 463,571 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAEKS OH NOVEMBER 18, 1931 L I A B I L I T I ES (In thousands of dollars) B-5o4b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. P.P.,notes in actual circulation 2,433,392 146,293 484,523 271,374 311,761 99,639 121,095 491,763 85,890 64,452 Si,069 50,581 224,952 Du M jy e ; i r I . b j e r 3 " : bank - reserve account 2,123,875 134,552 91 2,593 1 30,190 1 53,550 55,908 51,395 284,056 66,501 45,947 74,888 51,625 162,670 Government 23,571 2,082 6,829 2,266 1,023 657 1,990 2,4o4 1,381 977 1,043 911 2,008 Foreign "bank 137,415 10,089 47,155 13,317 13,586 5,381 4,242 18,160 4,708 3,094 3,901 4,035 9,147 Other deposits 27,623 17 10,886 294 7,331 339 113 879 527 339 73 138 6,687 Total deposits 2,312,484 146,740 977,463 146,067 175,490 62,285 58,340 305,499 73,117 50,357 79,905 56,709 180,512 Deferred availability items 488,060 57,822 135,328 42,469 44,500 34,410 13,437 56,275 23,271 9,467 24,566 19,173 27,342 Capital paid in 164,074 11,756 64,093 16,716 15,188 5,528 5,200 18,181 4,759 2,969 4,196 4,142 11,346 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 8,936 18,475 All other liabilities 19,968 470 6,054 560 2,234 925 2,261 2, 528 1,638 578 89s 944 TOTAL LIABILITIES 5,692,614 384,380 1,74s,036 504,251 573,144 214,901 211,190 914,182 199,237 135,267 199,016 l40,439 463,571 Reserve ratio (per cent) 64.1 56.9 71.0 64.7 62.9 51.7 48.8 72.6 54.6 57.1 49.6 51.8 55.1 Contingent liability on bills pur- 114,685 8,522 38,443 11,249 11,476 4,545 4,091 15,339 3,977 2,613 3,295 3,409 7,726 chased for foreign correspondents FEDERAL RESERVE HOTS STATEISIIT Federal reserve notes: 2,760,692 173,898 540,625 305,044 341,701 108,177 137,584 573,273 90,457 67.295 92,422 62,217 267,999 Issued to F.R. "bank by F.R.agent 327,300 27,605 56,102 33,670 29,940 8,538 16,489 81,510 4,567 2,843 11,353 ll,o36 43,o47 Held by Federal reserve bank 2,433,392 146 , 293 484,523 271,3 7 4 311,761 99,639 121,095 491,763 85,890 64,452 81,069 50,581 224,952 In actual circulation Collateral held by agent as security for notes issued to bank 694,876 47,010 297,336 44,700 64,470 10,070 10,900 92,140 14,635 7,435 9,880 12,300 84,000 Gold and gold certificates so,000 153,300 152,000 45,100 48,250 356,000 29,000 36,400 26,300 13,700 50,703 Gold fund - F. R. Board 1,015,930 54,617 Eligible paper 1,138,557 81,682 224,562 110,835 1 28,021 54,310 79,529 145,669 47,112 23,865 64,925 37,620 140,427 Total collateral 2,849,363 183,309 571,89s 308,835 344,491 109,480 138,679 593,809 90,747 67,700 101,605 63,020 275,190 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 6 months Over 6 months Bills discounted 662,04l 474,059 57,838 80,108 30,214 18,061 1,761 Bills bought in open market 534,017 135,293 155.912 222,526 18,573 1,713 Certificates and bills 386,586 45,868 73,221 16,653 60, 286 125,044 65,514 Municipal warrants 4,209 655 270 3,194 63 27 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis