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STATEMENT FOR THE PRESS 3-443 F e d e r a l Reserve B o a r d , August 6, 1931* Released f o r p u b l i c a t i o n F r i d a y morning, Aug. 7; not e a r l i e r . COITDIT1011 OF FEDERAL RESERVE -BAMS The d a i l y a v e r a g e Volume of F e d e r a l 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 d u r i n g the week e n d i n g August 5« a s r e p o r t e d "by the F e d e r a l r e s e r v e "banks, was $ 9 7 1 , 0 0 0 , 0 0 0 , an i n c r e a s e of ''333,000,000 compared w i t h t h e p r e c e d i n g week and a d e c r e a s e of $ 1 7 , 0 0 0 , 0 0 0 compared w i t h t h e c o r r e s p o n d i n g week i n 1930. On August 5 t o t a l r e s e r v e "bank c r e d i t amounted t o $ 9 6 7 , 0 0 0 , 0 0 0 , an i n c r e a s e of $22,000,000 f o r t h e week. T h i s i n c r e a s e c o r r e s p o n d s w i t h i n c r e a s e s of $63,000,000 i n money i a c i r c u l a t i o n and $32,000,000 i n unexpended c a p i t a l f u n d s , nonnieniber d e p o s i t s , e t c . , o f f s e t i n p a r t by a d e c r e a s e of $76,000,000 i n member bank r e s e r v e b a l a n c e s and an i n c r e a s e of $ 2 , 0 0 0 , 0 0 0 i n monetary g o l d s t o c k . 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 , 0 0 0 , 0 0 0 a t the F e d e r a l R e s e r v e Bank of San F r a n c i s c o and * 2 , 0 0 0 , 0 0 0 a t B o s t o n , and i n c r e a s e d $ 9 , 0 0 0 , 0 0 0 a t l e w York, $2,000,000 a t Kansas C i t y and $6,000,000 a t a l l F e d e r a l r e s e r v e b a n k s . The S y s t e m ' s h o l d i n g s of b i l l s bought i n open market d e c l i n e d $ 1 , 0 0 0 , 0 0 0 and of T r e a s u r y c e r t i f i c a t e s and b i l l s $ 7 , 0 0 0 , 0 0 0 , w h i l e h o l d i n g s of U. S- bonds increased $10,000,000. Changes i n t h e 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 a n d i n r e l a t e d i t e m s d u r i n g t h e week and t h e y e a r e n d i n g August 5, 1931, were a s f o l l o w s : I n c r e a s e or d e c r e a s e since Aug. 5 1911 J u l y 29 1931 Aug. 6 1930 ( I n m i l l i o n s of d o l l a r s ) B i l l s discounted B i l l s bought United States 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 TOTAL RESERVE BANK CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d Money i n 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 o i t a l funds,nonmember d e p o s i t s , e t c . 189 66 + - 6 1 631 32 + 3 + 14 967 + 22 4,955 1,792 4,34s 2,339 527 + 2 - - 17 6s + 105 + 7 + 27 + 10 + 462 + 412 - 25 + 111 Released, f o r p u b l i c a t i o n F r i d a y morning, Aug. 7,193%; n o t e a r l i e r . B-443a RESOURCES MD LIABILITIES OF THE TWELVE FEDERAL RESERVE 3A2ES C0M3IEED ( I n thousands of d o l l a r s ) Aug. 6.1931 J u l y 29,1931 Aug. 6 , 1930 2,063,779 29,983 2,058,539 29,923 "1,55%,7%4 36 , 8 l 6 Gold h e l d e x c l u s i v e l y a g a i n s t F . R . n o t e s 2D93.762 Gold s e t t l e m e n t f u n d w i t h F. R. Board 447,519 Gold and g o l d c e r t i f i c a t e s h e l d "by banks 887,756 2,088,522 4-10,496 944,536 1,588,530 555,602 817,046 Total gold reserves Reserves other than gold 3,429,037 165,76l 3,443,554 175,009 2,961,178 l65,b3% 3,594,798 3,618,563 3,126,809 73,019 79,086 63,436 69,901 118,674 7%,883 111,153 65,599 l4p,324 188,575 66,074 183,036 66,536 205,923 133,57% 216,878 43,242 420, ^11 206,723 43,242 *128,012 49,650 278,307 2hS, 267 680,o31 6,302 677,977 7,246 576,224 7,272 94l,582 934,795 922,99° 10,725 16,078 42b,158 58,920 29,389 7 26 16,364 415,289 58,9%5 28,071 705 19,064 503,728 59,584 14,442 5,150,669 5,151,809 4,710,758 F.R. n o t e s i n 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 a c c o u n t . . . Government F o r e i g n bank Other d e p o s i t s . . . . 1,772,672 %,735*501 1,338,774 2,339,%35 12,l6l 132,377 26,774 2,414,734 13,385 2,3°3,852 31,5%9 26,043 22,280 Total deposits 2,510,447 2,551*,597 2,423,4o6 R E S O U R C E S Gold with F e d e r a l r e s e r v e a g e n t s . . . Gold r e d e m p t i o n fund, w i t h U . S . T r e a s u r y Total reserves lion-reserve cash 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 : Bonds Treasury notes 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 Other s e c u r i t i e s Total bills and s e c u r i t i e s Dae from f o r e i g n banks F. R. n o t e s of o t h e r banks Uncollected items Bank p r e m i s e s All other resources . . . . . . . . . TOTAL RESOURCES L I A B I L I T I E S Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES 411,380 166,849 274,636 l4,685 . . . . R a t i o of t o t a l r e s e r v e s t o d e p o s i t and F. R. n o t e l i a b i l i t i e s combined . . C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents . . . . 5,150,669 100,435 405,755 \7.442 274,636 13,878 1( 5,%5%,809 5,755 487,054 169,680 276,936 14,908 4,710,758 83.9$ 84.370 83.170 225,852 253,578 483,454 RESOURCES A2TD LIABILITIES OF THE FEDERAL RESERVE BA1TKS OH AUGUST 5, 1931 R E S O U R C E S ( i n t h o u s a n d s of d o l l a r s ) B-443b T o t a l B o s t o n Now York P h i l a . C l o v e . R i c h . A t l a n t a Chicago S t . Louis Minn. Kans.Qy. D a l l a s San Fran Gold w i t h F e d e r a l r e s e r v e a g e n t s 2 , 0 5 3 , 7 7 9 159,917 453,059 170,000 212,550 58,570 109,900 476,900 74,330 4q,94o 6 l , 0 0 0 21,850 215,763 Gold r e d e m p t i o n f u n d w i t h U . S . T r e a s u r y 29,983 1,014 12,723 1,778 2,290 995 1,077 3.871 1,467 643 1,209 1.038 1,873 Gold h e l d e x c l u s i v e l y a g a i n s t F. R. n o t e s 2,093,762 160,931 465,782 171,778 214,S4o 59,565 110,977 480,771 75.797 50,533 62,209 22,388 217.641 Gold s e t t l e m e n t f u n d w i t h F.E. Board 113,190 51, 214 49,221 15,142 12,09s 59,12b 15,905 14,359 21,219 13,639 48,805 447,519 33,531 Gold end g o l d c c r t i f . h e l d by "banks 4,534 4i,494 9,286 8,830 102,520 9,838 8^7.756 35,295 570,271 30,056 65,495 4,954 5.183 Total gold r e s e r v e s 4 3,429,037 229,757 1,149,243 253,048 329,556 79,890 131,905 642,417 100,988 69,906 93,256 i , o 6 i 305,000 R e s e r v e s o t h e r t h a n gold 3,153 7, Sc 2 7,144 8,746 15,211 11,039 165,761 13,809 49,334 5,351 24,113 9,589 3.755 Total reserves 3.594,793 243,566 1,198,627 261,794 344,767 90,929 135,756 656,530 110,577 73,551 100,410 49,219 315,862 l i o n - r e servo c a s h 22,810 73,019 9,239 3,930 3,869 4,615 9,392 4,607 1,315 1,557 3,621 4,497 3,567 B i l l y discounted: S e c u r e d "by U . S . G o v t , o b l i g a t i o n s 5,189 6,094 572 23,843 8,653 1,752 359 l 4 , 5 9 6 556 879 59,901 2,667 3,526 Other " b i l l s d i s c o u n t e d 12,262 11,344 8,826 16,479 16,402 8,898 5,027 4,124 11,180 12,208 5,820 118,674 4,6o4 Total "bills discounted B i l l s "bought i n open market U. S. Government s e c u r i t i e s : Bonds Treasury notes 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.Govt, s e c u r i t i e s Other 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 Dae f r o r . f o r e i g n banks F. R. n o t e s of o t h e r b a n k s Uncollected items Bank p r o m i s e s All other resources TOTAL RESOURCES 188,575 65,074 216,87s 43,242 420,511 7,271 5,327 36,105 25,973 18,033 17,484 5,442 18,231 2,347 17,053 3,412 13,723 1,203 62,232 5,017 17,521 15,691 7,921 4,712 38, 236 620,631 53,162 6.302 250 102,286 941,532 234,153 10,238 5,375 55,010 10,725 55 16,07s 253 426,15s 50,288 52,920 29,38 9 3,458 831 169,535 2,54o 4,373 9,553 1,891 4,796 1,188 12,059 3,718 13,903 22,333 175 40,707 1,591 53,034 95,332 455 7,463 3,84b 12,153 495 14,992 9,730 887 28,460 15,165 27.640 39,077 200 182 780 160 95,361 52,320 29 73 43,9k) 118,250 42,120 25 54,075 44,335 21 40,327 7,575 11.277 2,573 3,117 33,So6 17 917 7,651 22 270 13,064 1,831 11,212 45,182 248 23,388 35,279 57 , 273 7 2 , 0 8 5 31,557 710 185 350 79,428 116,462 72 348 k),83l 2,6I4 13,432 1,328 15,240 14,992 7,471 5,150,559 373,700 1,616,337 339,982 1,185 1,538 30,925 3,583 1,552 4,374 26 724 98 2,122 49,392 19,167 30,476 1,137 18,130 3.635 1,181 2,lo0 914 24,542 8,061 1,926 3,803 1,043 717 2,176 2,009 495,227 184,745 205,028 856,021 181,512 120,346 186,o4o 12,577 1,468 20,4I6 5,021 9,76o 44o 10,212 14,525 32.059 30,130 52,031 987 315 77,783 49 1,295 23,259 4,621 1,016 113,349 428,382 L I A 3 I I IT I S S P.R.notes in actual c i r c u l a t i o n Deposits: Member bank - r e s e r v e a c c o u n t Government Foreign tank Other d e p o s i t s Total deposits D e f e r r e d a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s RESOURCES AID LIABILITIES OP THE FEDERAL RESERVE BANKS Oil AUGUST 5, 1931 ( I n thousands of d o l l a r s ) T o t a l B o s t o n Few York P h i l a . C l e v e . R i c h . A t l a n t a Chicago S t . L o u i s 1,772,672 137,894 B-443c Minn. Kans. Cy. DalLas San Fr an. 322,194 146,970 198,374 67,235 114,525 391,199 72,237 50, aS 63,571 27,006 181,246 979,556 145,594 191,4o4 61,310 56,250 334,106 67,631 4 s , o o 4 81,603 54,449 176,666 266 3 339 655 2,115 1,793 96s 1,802 94 2,117 1,305 4,o43 9,165 3,100 3,90s 4,717 10,108 41,943 13,343 13.612 5,391 4,852 18,195 7,084 44 280 170 59 46 11,470 124 6,540 118 95 744 152,920 1,035,084 160,854 212,524 69,121 61,291 355,162 73,933 51.929 85,894 52,554 193,181 49,583 109,306 38,201 38,685 29,852 11,100 48,053 18,708 7.313 23,24s 13,889 23,442 11,836 64,351 16,735 15,709 5,670 5,185 19,724 4,804 2,986 4,218 4,216 11,415 21,299 80,575 27,065 28,971 I2,ll4 10,857 39,936 10,562 7.144 8,702 8,936 18,475 623 748 407 756 168 4,827 157 964 753 2,067 1,947 1,268 373,700 1,616,337 389,982 495,227 184,745 205,028 85b,021 181,512 120,346 136,o4o 113,349 423,382 84.4 57.2 72.1 89.3 57.5 78.9 75.7 83.8 88.3 85.0 83.9 66.7 2,339,135 142,062 12,161 132,377 26,774 2,510.447 411,380 166,349 274,636 14,685 5,150,669 TOTAL LIABILITIES Reserve r a t i o (per cent) S3.9 C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d f o r f o r e i g n c o r r e s p o n d e n t s 225,852 704 16,955 74,159 22,381 22,833 9,043 8,139 30,519 7,912 5,200 6,556 6,782 15,373 FEDERAL RESERVE 1T0TE STAT3MEE! Pederal reserve notes: I s s u e d t o F . R . b a n k by P . R . a g e n t H e l d by F e d e r a l r e s e r v e b a n k In a c t u a l c i r c u l a t i o n C o l l a t e r a l h e l d by a g e n t a s s e c u r i t y f o r n o t e s i s s u e d t o bank Gold and g o l d c e r t i f i c a t e s Gold f u n d - F. R. B o a r d E l i g i b l e paper Total c o l l a t e r a l 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 Municipal warrants 2,199,250 161,556 426,578 23,662 1,772,672 137,894 474,808 177,181 225,547 74,664 129,707 483,347 83,302 54,713 67,22s 33.379 233.318 152,614 30,211 27,173 7,429 15,179 9 2,148 11,565 4,495 3,657 6,373 52,072 322,194 146,970 198,374 67,235 114,528 391,199 72,237 50,218 63,571 27,006 181,246 653,649 35,300 1,405,130 124,617 204,351 9,955 7,300 50,000 398,059 38,700 12,550 10,070 10,900 73.900 15,130 6,740 55,000 131,300 200,000 43,500 99,000 403,000 59,200 43,200 61,000 14,550 165,763 2,268,630 169,872 39.327 16,023 19,336 19,151 20,101 17,338 9,682 5,101 12,907 12,359 23,071 492,336 186,023 231,386 77,721 130,001 494,23s 84,012 55,o4l 73,907 34,709 233,334 Total Within 15 days 183,575 66,074 420,511 113,389 52 26,030 18,700 MATURITY DISTRIBUTION OF BILLS AIID SHORT TER!.' SECURITIES 91 days t o 31 t o 60 days 6 l t o 90 days l 6 t o 30 days 6 months 13,542 5,315 23,425 29,650 27,567 67,271 22,008 7,127 45,450 10 9,504 35 137,373 42 Over o months 432 128,292
@FedFRASER