H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Release# for publication B-623 Friday morning, Jan. 1; Federal Reserve Board not earlier. December ^1, 1931- COFDITIOF OF FED3RAI RFSFR7E BAFKS The daily average volume of Federal reserve bank credit outstanding during the week ending December 30> as reported by the Federal reserve banks, was $2,023,300,000, an increase of $58,000,000 compared with the preceding week and of $624,000,000 compared with the corresponding week in 1930• On December 30 total reserve bank credit amounted to $2,202,000,000, an increase of $196,000,000 for the week. This increase corresponds with an increase of $322,000,000 in member bank reserve balances and a decrease of $7,000,000 in monetary gold stock, offset in part by declines of $100,000,000 in money in circulation and $31,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $196,000,000 at the Federal Reserve Bank of New York, and declined $22,000,000 at Philadelphia, $14,000,000 at San Francisco, $13,000,000 at Cleveland and $10,000,000 at Boston all Federal reserve banks reporting an increase of $113,000,000. The System1s holdings of bills bought in open market increased $70,000,000, of United States bonds $26,000,000, of Treasury notes $3»000,000 &nd of Treasury certificates and bills $16,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 30, 1931> were as follows: Increase or decrease since Dec, 30 Dec. 23 Dec. 31 1931 1931 1930 (in millions of dollars) Bills discounted 1,024 + 113 + 773 Bills bought 327 + 70 - 37 United States securities 803 + 45 + 74 Other reserve bank credit US 31 + 19 - TOTAL RFSERVF BANK CREDIT 2,202 + 196 + 829 Monetary gold stock 4,455 — 7 - 135 Treasury currency adjusted 1,761 + 1 37 - Money in circulation 5,633 100 + 744 Member bank reserve balances 2,323 + 122 l4s - Unexpended capital funds,nonmember deposits,etc. 465 - 31 4- 61 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Jar. 1,1932; not earlier. B-623I .RESOURCES AFT) LIABILITIES OF THE TWELVE FEDERAL RESTIVE BAIUCS COIGI^D (in thousands of dollars) Dec. 30,1931 Dec. 23,1931 Dec. 31,1930 t R E S O U R C ES Gold with Federal reserve agents . . .. 2,090,372 2,047,722 1,730,439 Gold redemption fund with U.S.Treasury . 53,077 58,577 35,211 Gold held exclusively against F.R.notes 2,148,4^9 2,106,299 1,765,650 Gold, settlement fund with F. R. Board 335,570 360,667 417,440 Gold and gold certificates held by banks 503,5^5 513.895 753,129 Total gold reserves 2,937,564 2,9S0,~S6l 2,941,219 Reserves other than gold 167,459 147,571 140,298 Total reserves 3.155,023 3,128,432 3,031.517 Non-reserve cash 74,610 63,035 79.932 Bills discounted: Sec. by U.S. C-overnment obligations 594,333 oi' * 561,374 89.437 Other bills discounted 429,^00-^ 349,820 161,961 Total bills discounted . . . , 1,024^^3^ 911,194 251,393 Bills bought in open market 326,975 ^ 257,351 363,844 U. S. Goyernment securities: Bonds 344,626 313,655 163,735 Treasury notes . 30,343 29,058 226,473 Certificates and bills 427,759 411,509 339,209 Total U.S. Government securities 303,223 753,222 729,467 Other securities 3&T-SSO--v ^ _ 3 0 , 4 54 7,143 Total bills and securities 2,185,216 1,957,221 1,351,352 Due from foreign banks 8,662 3,815 704 F. R. notes of other banks 20,056 17,871 21,993 Uncollected items 443,521 455,594 534,733 Bank premises 59,531 59,572 57,843 All other resources 39,151 33,265 22,024 5.935.320 5,723,355 5,200,64s L I A B I L I T I ES F. R. notes in actual circulation . 2,613,104 2,661,206 1,663,538 Deposits: Member bank - reserve account . . 2,322,787 2,001,086 2.470,533 Government 50,705 56,460 18,819 Foreign bank 77,259 107,823 5,761 Other deposits 29,358 30,539 21,970 Total deposits 2,480,109 2,195,953 2,517.133 Deferred availability items . . . 435,291 415,566 564,007 Capital paid in . . 165,553 160,750 169,640 Surplus 274,636 274,636 274,636 All other liabilities 22,127 20,439 11,694 s TOTAL LIABILITIES . . . 5,935,820 5,723,855 5,200,64s V Ratio of total reserves to deposit and F. R. note liabilities combined . . . 61.9 fc 64.4$ 73.7$ Contingent liability on bills purchased for foreign correspondents 248,529 238,648 439,238 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

T ^ c n T T ^ n -o RESOURCES AM) LIABILITIES OF THE FEDERAL RESERVE BAMS OH DECEMBER 10, 1931 " S (In thousands of dollars) B-6231 ' "si % % Sold ii^ld exclusively against ' ' — if IS I11:1 IS I I II — —% : : :a re »g *s*s s t: i:: % * $ %% j|jj S;% S:fS &% &% %: #£:m%' £gg £ 10 r : S S S= *- % t: ::: ^ :: t: ::=:%a .1:1 51 3:1 SI II ,'1 31 31 !u! 31 3 nl SI MU e F" i i i i i i i i a j a ai ^ g* ^ a JD_A~ ....SOURCES 5,983,820 4^7,970 2,011,830 489,300 577,813 2l4,66l 210,015 929,285 198,231 136,086 191,84l 125,96s 452,820 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AFD LIABILITIES OF THE FEDERAL RESERVE BAK'S OIT DECEMBER 30, 1931 L I A B I L I T I ES (in thousands of dollars) B-6231) Total Boston }re\i York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. E ans.Cy. Dallas San Fran. F,P.,notes in actual circulation 2,613,101+ 195,257 562,71+3 271,56s 321,469 106,382 120,440 519,307 gb,933 62,817 82,839 47,193 230,156 Khiik.i bfc.:-ik - reserve account 2,322,787 152,188 1,121,541 122,739 153,008 51,843 54,869 285,758 68,928 45,512 72,900 46,779 146,717 Government 50,705 1,159 26,906 2,627 2,071 674 1,945 861 4,237 1,224 726 1,840 6,435 Foreign bank 77,259 6,625 17.92S 8,745 8,921 3,533 3,180 11,925 3,092 2,031 2,562 2,650 6,007 Other deposits 29,358 277 8,699 258. 8,032 577 15± 815 484 374 68 220 — a a oi Total deposits 2,480,109 160,249 1,175,134 134,469 172,032 56,632 60,147 299,359 76,741 49,l4i 76,256 51,489 168,460 Deferred availability items 435,291 58,313 124,566 33,906 39,088 33,086 11,172 49,878 17,913 7,155 19,131 13,200 22,833 Capital paid in 160,553 11,749 61,623 16,600 14,630 5,473 5,153 13,012 4,693 2,951 4,135 4,135 11,339 Surplus 274,636 21,299 80,575 27,065 28,971 12,114 10,357 39,936 10,562 7,144 8,702 8,936 18,475 All other liabilities 22,127 1,103 7,189 692 1,623 q£.q 2,241 2,793 1,339 373 678 1.015 1.557 TOTAL LIABILITIES 5,985,320 447,970 2,011,830 489,300 577,813 ?].4,66l 210,015 929,285 198,231 136,086 191,841 125,968 452,82c Reserve ratio (per cent) 61.9 62.7 52.8 60.2 67.1 5°.5 64.0 74.2 66.2 b7.7 65.0 61.5 6s.l Contingent liability on bills purchased for foreign correspondents 243,529 18,672 81,482 24,646 25,144 9,958 8,962 33,608 8,713 5,726 7,220 7,469 16,929 FEDERAL R^SWE ^OTE STATEMENT Federal reserve notes: Issued to F.E.bank by F.1}.agent 2,909,793 220,528 623,265 295,574 344,057 115,494 140,655 583,931 91,334 71,740 95,026 53,426 274,768 Held "by Federal reserve "bank 296,694 25,271 6r r\0 r-,n5o r^2) 1 r2*,r\ C24,006 r- c* r2i 2,582 t 9,1 1, n ~2i r^r\ 20,2 m15 1— j ^ \ 4 i \,4 im01 t-\ 2,92 r -37 ~i 12. ~\137 c* ~7 C "6.2 "733 4 4)! ,61 ) 1 n2 y ' s —^ ' — 1 — ~ 1 y — — ; * ~ — y y — • > - y ~ 7 * — 1 j — s , , ,,r„. —»— In actual circulation 2,613,104 195,257 562,743 271,56s 321,469 106,382 120,440 519,307 86,933 68,817 82,839 47,193 230,156 Collateral held by agent as security for notes issued to bank Gold and gold certificates 865,742 47,010 450,337 54,700 64,470 11,270 12,800 100,620 15,185 9,170 9,880 12,300 78,000 Gold fund - ?. Board 1,224,630 90,617 35,000 125,300 167,000 55,600 73,100 373,000 45,700 50,850 56,300 27,900 123,763 Eligible paoer 1,284,92b 85,090 553,617 116,260 117,072 49.271 56,597 130.793 31.942 :12.580 18.0Q1 11.319 80.292 Total collateral 3,375,293 222,717 1,038,954 296,260 348,542 116,l4l 142,497 6o4,4i3 92,827 72,600 104,773 53,519 282,055 MATURITY DISTRIBUTION OF BILLS AITD SHORT TERM SECURITIES 2 91 days to Total x Within 15 days 16 to 30 days 31 to 60 days bl to 90 days Over 6 months c months Bills discounted 1,024-133- 851,558- 39,895 61,106 51,407 13,156 2,011 Bills bought : pi open market 326,975 192,124 64,096 50,940 19,056 759 Certificates and bills 427,759 28,500 20,950 77,816 3b,139 26,553 127,801 Municipal warrants 4,&95-v^ 3,792- hoh^- 221 84 87 11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis