H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released for publication B-57S Saturday morning, Nov. 28; Federal Reserve Board not earlier. November 27, 1931* CONDITIO! OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending November 25, as reported "by the Federal reserve "banks, was $l,96l,000,000, a decrease of $75,000,000 compared with the preceding week and an increase of $939,000,000 compared with the corresponding week in 1930. On November 25 total reserve bank credit amounted to $1,9 4l,000,000, a decrease of $31,000,000 for the week. This decrease corresponds with a decrease of $7,000,000 in member bank reserve balances and an increase of $39,000,000 in monetary gold stock, offset in part by increases of $8,000,000 in money in circulation and $5,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $8,000,000 at the Federal Reserve Bank of Chicago, $7,000,000 each at Boston and New York and $24,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $54,000,000 and of Treasury notes $4,000,000, while holdings of Treasury certificates and bills increased $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending November 25, 1931, were as follows: Increase or decrease since Nov. 25 Nov. 18 Nov. 26 1931 1931 1930 (In millions of dollars) Bills discounted 686 + 24 + 452 Bills bought 480 - 54 + 304 United States securities 727 + 131 Other reserve bank credit 47 - 1 + 25 TOTAL RESERVE BANK CREDIT 1,941 31 + 913 • Monetary gold stock 4,409 + 39 - 157 Treasury currency adjusted 1,774 l 13 - — Money in circulation 5,479 + 8 + 914 Member bank reserve balances 2,117 - 7 - 293 Unexpended capital funds,nonmember deposits,etc = . 527 + 5 + 121 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Saturday morning, November 28,1931; not earlier. B~57Sa RESOURCES MD LIABILITIES OF THE TW2LVS FEDERAL RESERVE BMKS COMBINED (In thousands of dollars) gov. 25.1931 Nov. 18.1931 Nov. 26.1930 R E S O U R C ES Gold with Federal reserve agents . . .. 1,717,376 1,710,806 1,592,506 Gold redemption fund with U.S.Treasury . 70,5*1 70,617 35,085 Gold held exclusively against IT.R.notes 1,737,957 1,781,423 1,627,591 Gold settlement fund with F. R. Board . 379,792 349,601 474,745 Gold and gold certificates held by banks 760,943 743,752 922,634 Total sold reserves 2,928,698 2,874,776 3,024,970 Reserves other than gold 165,702 168,046 138,832 Total reserves 3,09^,400 3,042,822 3,163,802 Non-reserve cash 66,655 70,43s 61,210 Bills discounted: Sec. by U.S. Government obligations 338,638 314,356 87,419 Other bills discounted 347,763 347,685 146,433 Total bills discounted . . .. 6s6,4oi 662,o4i 233,852 Bills bought in open market 479,798 534,017 176,106 U. S. Government securities: Bonds 316,557 316,505 45,742 Treasury notes 19,951 23,96s 258,151 Certificates and bills 390,593 386,58b 291,741 Total U.S. Government securities 727,101 727,059 595,634 Other securities 32,209 33,029 6,348 Total bills nnd securities . 1,925,509 1,956,146 l,oil,94o Dae from foreign banks 8,729 8,706 707 F. R. notes of other banks 16,537 17,804 14,067 Uncollected items 412,993 494,794 531,631 Bank premises 59,475 59,462 59,702 All other resources . . .. 4l, 267 42,442 24,388 TOTAL RESOURCES 5,625.565 5,692,614 4,867,447 L I A B I L I T I ES F. R. notes in actual circulation . . . 22,,444455,,772266 22,,443333,,339922 11,,442211,,886688 Deposits: Member bank - reserve account . . .. 2,117,437 2,123,875 2,409,929 Government 27,545 23,571 29,384 Foreign bank 145,656 137,415 5,377 Other deposits 24,768 27,623 is,723 Total deposits 2,315,506 2,312,434 2,463,413 406,571 488,060 516,453 Capital paid in 163,674 154,074 170,46s Surplus •. . 274,636 274,636 276,936 All other liabilities . 19,452 19.96s 18,269 TOTAL LIABILITIES 5,692,614 4,867,447 5,625,565 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 65.056 64.1$ 81.4$ Contingent liability on bills purchased for foreign correspondents 117,650 114,685 428,938 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAINICS ON NOVEMBER 25, 1931 R E S O U R C ES (In thousands of dollars) B~578b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. iy W: 1 :S I;G? i$i Gold held exclusively against , , F- R- sotes 1,787,957 101,431 364,308 206,375 224,020 57,970 63,512 457,818 45,803 46,447 39,814 31,913 148,546 - *° ^ «•% s -% « - bi *•* s -& : s Total gold_reserves 2,928,698 l4l,122 1,037,255 257,751 300,158 76,522 79,798 554,669 72,991 62,700 77,464 48,674 219,594 Reserves other than gold 165,702 19,422 34,767 11,959 13,629 8,697 6,297 30.011 12,377 4,375 7,956 7,362 8,850 Total reserves 3,094,400 l60,544 1,072,022 269,710 313,7S7 85,219 86,095 584,580 85,368 67,075 85,420 56,036 228,444 Jon reserve cash 66,655 H,4lS 17,337 3,214 3,432 3,132 4,o45 9,353 3,4l3 .1,743 1,906 2,815 4,847 -D lJLJL S CL1 SCO ail O G c *l Secured by U.S.Govt, obligations 338,638 20,555 69,243 48,978 46,219 12,499 11,681 48,885 14,854 914 8,267 4,777 51,766 tills discounted 347,763 12,286 47,512 60,28 5 47,212 26,892 38,039 19,918 1 2,710 7,039 24,315 16,393 35,162 Total bills discounted 6s6,4oi 32,841 116,755 109,263 93,431 39,391 49,720 68,803 27,564 7,953 32,582 21,170 86,928 u:xs! a o v £ L e S t ° j : ™ : 479,793 55,535 125*8,53 5,770 31,62316,150 29,0a 85,129 a,17515,626 23,55313,410 51,933 : Sonds , 316,557 23,355 107,394 22,618 25,304 11,016 6,037 53,105 11,340 15,874 7,649 14,874 17,991 Treasury notes _ 19,951 87 383 3,474 97 42 2,432 1 21 3,542 31 29 19 9 694 1Cates and 131118 390,593—33,635 132,453 31,712 47.550 16.348 8.738 46.754 16,086 12.100 11.281 7.237 26^699 Total U.S. Govt, securities 727,101 57,077 24o,230 57,8o4 72,951 27,4o6 17,207 99,980 30,96s 28,005 18,959 22,130 54,384 Other securities 32,209 .1,910 1 4,825 7,835 - 700 600 3,085 630 764 - l,g6p Total bills and securities 1,925,509 147,363 497,673 150,672 198,005 83,647 96,548 256,997 80,337 52,348 80,104 56,710 195,105 Due froni^foreign banlcs ^ 8,729 692 3,176 913 884 350 315 1,245 25 17 254 263 595 E E E :L ~ II IL " II 'I IL IL 1! I I1 I IL • ;! II 5,625,565 374,36l 1,741,047 497,244 569,4o4 210,470 205,452 911,954 194,131 133,472 194,460 134,898 458,672 TOTAL RESOURCES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAIfKC yuYE!.CBER 25, 1931 L I A B I L I T I ES (In thousands of dollars) E-578b lotax Boston Hew York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R..notes in actual circulation 2,445,726 148,441 498,931 274,380 311,767 99,045 119,181 492,915 84,926 64,452 80,673 49,743 221,222 Dfcp«. ^ .is: Member "bank - reserve account 2,117,437129,701 924,011 125,997 149,831 53,633 49,074 288,527 65,119 44,623 74,137 48,694 164,090 Government 27,645 1,615 1,614 2,513 1,770 3,447 2,503 3,001 2,458 1,867 1,893 2,345 2,4i4 Foreign "bank 145,656 11,000 47,244 14,520 14,813 5,867 5,280 19,800 5,133 3,373 4,253 4,4oo 9,973 Other deposits 24,768 26 8,920 279 7,155 298 100 679 399 329 83 173 6,327 Total deposits 2,315,506 142,342 981,959143,309173,569 63,245 56,962 312,007 73,109 50,192 80,366 55,612 182,804 Deferred availability items 406,571 50,07s 109,481 35,193 33,389 29,621 11,003 46,413 19,052 7,881 19,957 15,612 23,891 Capital paid in 163,674 11,756 63,841 16,716 15,164 5,509 5,188 18,138 4,733 2,962 4,184 4,142 ii,34l C"plus 274,636 21,299 80,575 27,065 28,971 12,114 10,857 39,936 10,562 7,1*44 8,702 8,936 18,475 A.l L viher liabilities 19,452 445 6,180 58I 1,544 936 2,261 2,545 1,749 841 578 853 939 TOTAL LIABILITIES 5,625,565 374,361 1,741,047 497,244 569,404 210,470 205,452 911,954 194,131 133,472 194,460 134,893 458,672 Reserve ratio (per cent) b5.0 55.2 72.4 64.6 64.7 52.5 48.9 7 2.6 54.0 58.5 53.O 53.2 56.5 Contingent liability on bills purchased for foreign correspondents 117,650 8,832 38,634 11,658 11,894 4,710 4,239 15,897 4,122 2,708 3,415 3,533 8,008 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Jssued to F.R. bank by F.R.agent 2,76l,4l6 172,820 549,309 303,335 337,228 107,498 136,100 575,669 89,318 66 82 92,492 61,8 24 268,941 Held by Federal reserve bank 315,690 24,379 50,328 28,955 25,461 8,453 16,919 82,754 4,392 2,430 11,819 12,081 47,719 In actual circulation 2,445,726 148,441 498,931 274,350 311,767 99,045 119,181 492,915 84,92b 64,452 80,673 49,743 221,222 Collateral held by agent as security for notes issued to bank Gold and gold certificates 695,846 47,010 297,336 44,700 54,470 10,070 10,900 92,i4o 15,405 7,635 9,880 12,300 84,000 Gold fund - F. R. Board 1,021,530 49,617 50,000 155,300 152,000 45,100 48,250 356,000 28,000 37,500 26,800 17,200 55,763 Eligible paper 1,106,278 85,813 214,293 107,085 121,654 54,145 77,194 148,937 46,378 21,972 59,535 33,05s 136,214 Total collateral 2,823,654 182,440 561,629 307,085 338,124 109,315 136,344 597,077 89,733 67,107 96,215 62,55s 275,977 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to bO days bl to 90 days Over 6 months 6 months Bills discounted 686,401 496,31s 63,753 71,242 33,918 19,366 1,799 Bills bought in open market 479,793 158,236 139,364 169,359 11,688 1,151 Certificates and bills 390,593 20,583 53,223 15,152 88,286 147,629 65,515 Municipal warrants 4,379 750 250 3,265 89 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis