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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n Friday morning, Apr. 3; not e a r l i e r . _ B-297 Federal Reserve Board A p r i l 2, 1931CONDITION OF FEDERAL RESERVE BANKS The d a i l y average volume of Federal r e s e r v e "bank c r e d i t o u t s t a n d i n g during the week e n d i n g A p r i l 1, as r e p o r t e d by the Federal r e s e r v e "banks, was $919,000,000, an i n c r e a s e of $39,000,000 compared with t h e p r e c e d i n g week and a decrease of $178,000,000 compared with the c o r r e s p o n d i n g week i n 1930. On A p r i l 1 t o t a l r e s e r v e bank c r e d i t amounted t o $943,000,000, an i n c r e a s e of $85,000,000 f o r the week. This i n c r e a s e corresponds with i n c r e a s e s of $74,000,000 in money i n c i r c u l a t i o n and $35,000,000 i n member bank r e s e r v e b a l a n c e s , o f f s e t i n p a r t by i n c r e a s e s of a9,000,000 in monetary gold s t o c k and $13,000,000 i n Treasury currency, a d j u s t e d . Holdings of d i s c o u n t e d b i l l s d e c l i n e d $9,000,000 a t the Federal Reserve Bank of San F r a n c i s c o and i n c r e a s e d $2,000,000 each a t New f o r k , Richmond and A t l a n t a , a l l Federal r e s e r v e banks combined showing a small d e c r e a s e f o r the week. The System's h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $84,000,000 while h o l d ings of U n i t e d S t a t e s s e c u r i t i e s were p r a c t i c a l l y unchanged. Changes i n the amount of r e s e r v e bank c r e d i t o u t s t a n d i n g and in r e l a t e d items during the week and the y e a r ending A p r i l 1, 1931• were as f o l l o w s : I n c r e a s e or decrease since Apr. 1 1931,. Mar. 25 1931 Apr. 2 1930 ( I n m i l l i o n s of d o l l a r s ) 598 15 + + l 84 1 4 - 77 - 134 + 68 943 4,698 + 85 1.77S % 9 + 13 - 181 + 275 + 4 4,621 2,392 407 + 74 + 35 - + io4 + 17 - a B i l l s discounted B i l l s bought United S t a t e s s e c u r i t i e s Other r e s e r v e bank c r e d i t 164 TOTAL RESERVE BANK CREDIT Monetary gold s t o c k Treasury currency a d j u s t e d Money in c i r c u l a t i o n Member bank r e s e r v e b a l a n c e s Unexpended c a p i t a l funds,nonmember d e p o s i t s , e t c . C 167 - 36 R e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, Apr. 3,1931; not e a r l i e r * B-297& RESOURCES AilD LIABILITIES OP THE T.HELVE FEDERAL RESERVE BAITKS COMBHED ( i n thousands of d o l l a r s ) Apr. 1,1931 liar. 25.1931 Apr. 2.1930 Gold with F e d e r a l r e s e r v e a g e n t s . « . . Gold redemption f u n d w i t h U . S . T r e a s u r y . Gold h e l d e x c l u s i v e l y a g a i n s t P . R . n o t e s Gold s e t t l e m e n t f u n d with F.R. Board . . Gold and g o l d c e r t i f i c a t e s h e l d by hanks • 1,725,124 32,648 1,729,624 32,672 1,762,296 504,271 859,801 1,693,284 51,851 1,745,135 588,864 687,710 Total ^old reserves Reserves o t h e r than g o l d 3,115,202 180,008 3,126,368 183,894 3,021,709 187,167 3 , 295 , 210 73,954 3,310,262 74,333 3.208,876 67,422 57,747 105,883 103,475 61,950 113,652 127,471 163,630 166,622 165,425 241,123 83,272 301,297 66,600 63,226 66,633 54,105 194,519 281,765 RESOURCES Total reserves B i l l s discounted: Sec. "by U.S. Government o b l i g a t i o n s , . Other b i l l s d i s c o u n t e d Total b i l l s discounted B i l l s bought i n open market . . . . . . U. S. Government s e c u r i t i e s i C e r t i f i c a t e s and b i l l s . . . . . . . T o t a l U.S.Government s e c u r i t i e s . 1,757,772 508,978 848,452 468,537 468.698 592,363 598,558 - - T o t a l b i l l s and s e c u r i t i e s ; . Dae from f o r e i g n banks . . . . . > . . 63,227 928,615 707 13,608 501,567 58,338 17,617 530,389 8,780 847,255 710 14,959 464,466 58,323 1,081,589 16,546 722 17,971 628,023 58,507 12,195 . , . .. 4,889,616 4,786,854 5,075,305 F. R. n o t e s in a c t u a l c i r c u l a t i o n . . . Deposits: Member bank - r e s e r v e account . . , . Government . Foreign bank . Other d e p o s i t s Total deposits . . . . . . Deferred a v a i l a b i l i t y items C a p i t a l -paid in 1,497,811 1,441,715 1.576,097 2,391,814 29,l4o 5,l5l 20,113 2,357,011 51,4o4 5,086 2,375,348 38,922 6 ,610 2,446,218 487,611 2,432,76 7 TOTAL RESOURCES L I A3 I L I T I E S All other l i a b i l i t i e s TOTAL LIABILITIES 168,825 454,585 274,636 14,515 168,894 274,636 14,257 22,167 2,443,047 586,667 4,889,616 4,786,854 5,075,305 19,266 174,246 276,936 18,312 R a t i o of t o t a l r e s e r v e s to d e p o s i t and F. R. note l i a b i l i t i e s combined . . . 83.5$ 85.4f 0 79«8f0 Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 430,784 >37,233 475,524 RESOURCES A2TD LIABILITIES OF THE FEDERAL RESERVE BASKS OU APRIL I , 1931 ( I n thousands of d o l l a r s ) B-297b RESOURCES To t a l Boston New York F h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. ICans.Cy. Dallas San Fran. G o l d w i t h Federal reserve agents 1,725,124 149,917 351,919 l 6 0 , 0 0 0 192,550 84,080 135,900 225,000 72,880 46,515 65,000 25,600 215,763 Gold redemption fund with U.S.Treasury 32.648 1,223 13,300 1.147 2,568 812 1,042 3,995 1 . ^ 410 1,3^4 JoJ M44_ °F? R?1notes1US1Vel/ 1,757,772 151,i4o 365,219 161,147 Gold s e t t l e m e n t f u n d with F. R. Board 508,978 25,677 132,657 64,664 848*. 452 33.004 56q,158 28.359 Gold and gold c e r t i f . h e l d "by banks 3,115,202 209,821 1,067,034 254,170 T o t a l gold r e s e r v e s 180,008 16,540 58,231 9,100 Reserves o t h e r t h a n gold Total reserves 295,210 226,361 1,125,265 263,270 33,883 3,776 Non-reserve c a s h 73,954 8,052 B i l l s discounted: 5,804 17,153 57,747 5,766 Secured "by U.S.Govt, o b l i g a t i o n s 12,238 19,034 5,810 105,883 Other b i l l s d i s c o u n t e d 36,187 18,042 163,630 11,576 Total b i l l s discounted 105 166,622 12,829 76,535 B i l l s bought i n open market U. S. Government s e c u r i t i e s : 66,600 1,202 22,523 989 Bonds 13,263 5,625 63,226 2,745 Treasury n o t e s 146,927 42,738 468,537 42,235 C e r t i f i c a t e s and b i l l s J T ot a l U.S.Govt, s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s Due from f o r e i g n banks F. R. notes of o t h e r banks U n c o l l e c t e d items Bank premises All other resources TOTAL RESOURCES 195,118 84,892 136,942 228,995 ?4,4o6 46,985 44,364 19,506 16,619 110,375 21,450 l o , o 8 4 65,442 4.935 8.091 70,913 11,376 5,174 304,924 109,333 161,652 4io,283 107,232 68,843 15,983 11,083 6,289 20,228 10,815 4,027 66,354 17,71o 12,217 4,052 2,675 5,224 4i4 3,109 1,544 8,113 6,837 14,657 15,548 15,054 13,425 12,324 7,899 6,438 3,523 4,020 9,657 6,991 14,295 4,o49 16,761 6S2 12,853 44,320 1,325 923 14,735 666 4,393 18,840 7,521 1,099 2,032 10,192 16,954 31,369 1,149 17,883 319 11,348 27,325 23,899 25,574 33,780 29,224 38,992 49,826 21 923 22,450 3,803 429 43,264 70,04s 48 1,222 25,597 4,6a 7,811 6,846 2,205 12,849 244 356 13,069 6,283 4,151 8,318 49,352 57,855 16,983 12,681 928,615 70,587 295,435 67,499 707 501,567 58,338 17,617 53 257 64,380 3,45s 338 232 4,039 151,429 15,240 4,826 88,060 70 72 242 1,017 45,066 2,6i4 391 44,582 7,139 1,577 28 1,065 54,294 3,438 1,091 8,272 17,421 212 20,590 182,713 13,608 26,104 34,899 44,413 281,210 96,287 8,006 9,022 10,6s4 320,907 120,416 167,941 430,511 118,047 72,870 104,293 53,435 291,894 1,569 i,94o 3,270 6,4o4 5,392 4,207 4,o4o 9,548 4,873 46,182 59S,363 26,367 220 , 207 13,lo2 4,884 3,645 56,893 81,128 32,389 110,873 38,236 26 25 95 2,36s 690 984 13,015 56,583 19,670 8,061 3,635 2,573 1,428 3,646 1,539 33,117 16 559 8,523 1,926 718 6,389 379 154 21 242 15,978 1,830 944 9,813 4,482 690 4,889,616 373,486 1,617,349 38 2,928 1468,746 196,820 224,614 619,578 I8o,6o4 119,29s 183,685 115,984 400,524 LIAB.IL IT I S S RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAHCS 0:7' APRIL 1, 1931 ( I n thousands of d o l l a r s ) B-297C •Total Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. Dallas San Fran. 1,497,311 134,524 278,261 140,478 178,241 79,637 131,123 177,570 77,018 48,489 65,653 27,047159,770 F . R . n o t e s in a c t u a l c i r c u l a t i o n Deposits: Member bank - r e s e r v e account 2,391,814 Government d e p o s i t s 29,140 Foreign tank 5,151 Other d e p o s i t s 20,113 T o tal d e p o s i t s 2,446,218 D e f e r r e d a v a i l a b i l i t y items 487,611 Capital paid in 168,825 Surplus 274,636 All other l i a b i l i t i e s i4,q15 TOTAL LIABILITIES 4,889,616 Reserve r a t i o (per c e n t ) 83-5 Contingent l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n correspondents 430,784 138,727 1,023,881 152,436 196,666 2,283 386 59 l41,455 64,129 11,832 21,299 247 373,486 82.0 9,617 1,699 10.124 1,045,321 143,805 65,624 80,575 3,763 1,617,349 32,308 Federal reserve notes: I s s u e d to F.R.bank by F.R.Agent 1,895,399 159,756 Held by Federal r e s e r v e bank 397,538 25,232 .— In a c t u a l c i r c u l a t i o n 1,497,811 134,524 C o l l a t e r a l h e l d by agent a s s e c u r i t y f o r n o t e s issued to bank Gold and gold c e r t i f i c a t e s 623,144 35,300 Gold fund - F. R. Board 1,101,930 114,617 E l i g i b l e paper 301,556 24,382 T o tal c o l l a t e r a l 2,026,580 174,299 B i l l s discounted B i l l s bought i n open market C e r t i f i c a t e s and b i l l s 85.0 89.0 61,084 1,692 185 179 63,l4o 12,234 5,241 10,857 2,019 224,614 86.5 3a,502 1,988 695 669 324,854 55,047 19,942 39,936 2,229 619,57s ?• 7 69,920 49,943 82,553 57,-08 1,217 1,475 830 960 ISO 118 149 154 389 147 94 376 71,706 51,683 83,908 58,si6 21,166 2,111 20,731 16,202 4,837 4,24s 4,311 10,562 8,702 8,935 1,315 816 443 672 is5,6o4 119,298 183,685 115,934 62.2 79.4 12.1 69.7 176,929 639 350 6,147 184,065 26,013 11,462 13,475 739 4oo,524 84.9 9,910 12,492 12,923 29,293 402,253 166,815 207,973 123,992 26,337 29,732 . ... 5S,9°' _ ) l 153,619 239,958 351,919 38,700 121,300 4,603 16,357 446,522 176,357 10,080 9,400 82,000 l4,0S0 6,815 7,300 74,000 126,500 143,000 58,800 39,700 65,000 18,300 14,975 19,107 29,545 13,416 7,273 15,44s 10,419 99,055 155,007 254,545 86,296 53,788 80,448 36,019 8 4,311 52,938 72,973 33,383 232,424 9,354 22,496 62,388 7,293 4,449 7,325 6,336 72,654 278,261 14o,478 178,241 79,637 131 ,123 177,570 77,018 48,439 "65,653 27,047 159,770 163,630 100,-S5f-3W3 120,934 155,186 43,103 16,780 27,065 3lb 382,928 520 1,739 200,631 43,994 15,757 28,971 1,152 468,746 54.7 60,565 4,576 206 106 65,453 33,076 5,736 12,114 804 196,820 83.0 FEDERAL RESERVE TOTE SIAI'^Zii'T Within 15 days 468,537 84 1,706 l41,732 42,647 43,508 17,231 15,508 58,155 15,077 Total 166,622 2,157 509 12,550 180,000 25,355 217,905 MATURITY DISTRIBUTION OF BILLS AND SHORT TERI.1 SECURITIES 91 days to l b t o 30 days 31 t o 60 days ol to 90 days o months 14,452 21,857 14,744 9,297 31,328 10,779 2,891 190 36,000 120,216 158,697 55,000 160,763 30,676 246,439 Over 6 months 2,4g) 931 153,624
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