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STATEl5ME FOB THE PRESS Released for publication Friday morning, July 24; not e a r l i e r . B-423 Federal Reserve Board July 23, 1931. CONDITIO!? OF FEDERAL RESERVE BAHS The d a i l y average volume of Federal reserve bank c r e d i t outstanding during the week ending J u l y 22, as r e p o r t e d by the Federal reserve banks, was $953,000,000 which wa.s the sane as in the preceding week and a decrease of $24,000 ,000 compared with the corresponding wek in 1930. On July 22 t o t a l reserve bank c r e d i t amounted to $942,000,000, a decrease of $9,000,000 f o r the week. This decrease corresponds with decreases of $16,000,000 in money in c i r c u l a t i o n , $4,000,000 in member bank reserve balances and $2,000,000 in unexpended c a p i t a l funds, e t c . , o f f s e t in p a r t by decreases of $8,000,000 in monetary gold stock and $5 ,000,000 in Treasury currency. Holdings of discounted b i l l s increased $16,000,000 a t the Federal Reserve Bank of San Francisco, $2,000,000 a t A t l a n t a and $20,000,000 a t a l l Federal reserve banks. The System's holdings of b i l l s bought in open market declined $3,000,000 and of Treasury notes $4,000,000 while holdings of U. S. bonds i n creased $4,000,000. Changes in the amount of reserve bank c r e d i t outstanding and in r e l a t e d items during the week and the year ending July 22, 1931, were as f o l l o w s : Increase or decrease s ince July 22 1931 July 15 1931 July 23 1930 (in m i l l i o n s of d o l l a r s ) & Money in c i r c u l a t i o n 4,79^ Member bank reserve balances 2,432 Unexpended c a p i t a l f u n d s , 1 onmember d e p o s i t s , e t c . 454 8^ 942 4,951 7 1,784" ' 1 678 16 1 TOTAL RESERVE BAZEC CREDIT Monetary gold stock Treasury currency a d j u s t e d 182 67 + 1 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 reserve bank c r e d i t - 9 - 5 ? - 84 +102 - 13 - 8* - 4 +428 - 9 - 16* +385 - - 4 2 + 31 *July 15 f i g u r e s r e v i s e d . Released f o r p u b l i c a t i o n Friday morning, July 24,1931; not e a r l i e r . B-423a RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) July 22,1931. July 15.1931 July 23,1930 RESOURCES Gold with Federal r e s e r v e agents . . . . Gold redemption fund with U.S. Treasury 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.notes Gold settlement fund with F. R. Board . Gold and gold c e r t i f i c a t e s h e l d by "banks Total gold r e s e r v e s Reserves other than gold Total r e s e r v e s Non-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 discounted Total b i l l s discounted B i l l s bought in 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 Total 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 Due from f o r e i g n banks F. R, notes of other "banks Uncollected items Bank premises All other r e s o u r c e s . TOTAL RESOURCES 2,003,339 29,034 2,032,423 463,011 928,913 3,424,34? 173,SO4 3,597,951 78,899 1,990,864 29,321 2,020,185 464,413 924,551 3,409,149 171,929 3,581,138 77,133 1,558,214 36,814 1,595,028 601,767 827,432 3,024,227 169,834 3,194,061 67,835 78,204 103,398 181,502 b7,033 59 , 997 101,806 161,803 70,408 59,629 130,941 190,570 150,523 189,946 46,242 441,813 678,001 7,174 933,810 725 15,862 448,044 58,913 26,939 5,i6i,l43 185,781 49,760 442,312 677,853 11,093 921,157 3,725 16,465 566,211 58,834 26,906 5,251,569 42,750 260,835 272,554 576,139 7,323 924,555 705 22,175 553,600 59,572 13,146 4,835,649 1,730,752 1,716,621 1,356,180 2,431,802 17,990 58,481 26,732 2,535,005 4k),44o 160,796 274,636 13,514 5,i6l,l43 2,435,530 17,501 56,159 30,662 2,539,852 540,433 166,844 274,636 13,183 5,251,569 2,432,086 18,882 5,760 27,884 2,484,612 532,922 169,882 276,936 15,117 4,835,649 L I A B I L I T I E S F. R. notes 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 d e p o s i t s Deferred a v a i l a b i l i t y items Capital p a i d in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES Ratio 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 . . . 84.3$ 84.1$ 83.2$ Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents , 298,111 289,851 481,315 RESOURCES AND LIABILITIES OF THE FB1ERAL RESERVE BAMS OH JULY 22, 1931 ( i n thousands of d o l l a r s ) B-423b Total Boston Mew York F h i l a . Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,003,339 159,917 4l6,919 loO.OOO 212,550 58,570 112,200 456,900 76,730 49,9^) 6 l , 0 0 0 22,350 215,763 Gold redenr.ticn fund with U.S.Treasury29,084 1,014 12,724 772 2,326 995 1,105 3,887 1,473 645 1,213 1,040 1,884 G-old h e l d exclusively against ?v R. notes 2,032,423 160,931 429,643 160,778 214,876 59,565 H3,305 460,787 78,203 50,585 62,213 23,890 217,647 Gold settlement fund with F.R. Board 463,011 26,769 180,849 61,729 41,934 11,675 7,218 53,779 12,207 11,903 20,382 11,380 23,186 Gold and gold c e r t i f ; held by banks 928.913 35,243 613.196 27,700 64.999 . 5,362 s,s4i 98,165 9,461 4,667 10,739 4,46o 41,080 Total gold r e s e r v e s 3,424,347 222,943 1,228,688 250,207 321,809 76,602 129,364 612,731 99,871 67,155 93,334 39,730 281,913 Reserves other than gold 173,604 12,719 59,941 7,139 15,818 11,349 7,495 22,423 9,850 3,465 7,431 8,115 7,839 Total reserves 3,597,951 235,662 1,288,629 257,346 337,627 87,951 136,859 635,154 109,721 70,64o 100,765 47,845 289,752 Eon-reserve cash 25,463 3,528 4,250 3,989 5,620 9,171 5,062 1,596 1,906 3,464 4,951 78,899 9,899 B i l l s discounted: Secured "by U.S.Govt, o b l i g a t i o n s 78,204 3,490 12,901 5,209 9,555 1,952 621 4,235 3,831 358 34,318 575 1,159 Other b i l l s discounted 10,280 11,388 7,397 15,477 12,917 7,662 5,455 3,779 7,956 10,848 5,555 103,398 4,684 Total b i l l s discounted 181,602 8,174 23,131 16,597 16,952 17,429 13,538 11,897 9,286 4,354 9,115 11,206 39,873 B i l l s bought in open market 67.033 4,844 16,919 3,223 6,879 3,031 7,921 8,100 2,163 1,170 2,883 2,398 7,502 U. S. Government s e c u r i t i e s : Bonds 189,946 11,793 53,802 13,184 13,407 6,801 4,036 37,994 6,489 11,523 8,293 14,424 8,200 46,242 1,503 Treasury notes 612 1,111 423 3,830 2,012 3,938 5,550 4,627 11,567 555 10,454 441,813 39,866 110,183 36,662 47,111 24,334 14,518 55,326 19,989 15,623 29,673 15,151 33,377 C e r t i f i c a t e s and b i l l s Total U.S.Govt, s e c u r i t i e s 678,001 53,162 169,535 54.473 72,085 31,558 22,384 95,332 30,476 27,758 39,077 30,130 52,031 Other s e c u r i t i e s 7,174 400 300 160 ao 3,215 560 220 200 780 RESOURCES Total 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 other banks Uncollected items Bank premises All other resources TOTAL RESOURCES 933,810 66 , 480 212,350 74,853 96,316 52,238 28 256 69 52 725 71 15,862 4,083 225 187 1,098 l,46o 448,044 49,610 120,135 41,331 43,436 32,356 15,2140 2,6I4 7,568 3,583 58,913 3,458 744 11,513 1.118 1,932 1,450 26,939, 5,l6l,l43 366,130 1,678,169 381,046 1492,298 183,055 229 530 370 44,053 115,859 42,125 33,5H 51,855 43,894 99,776 48 16 20 21 25 94 25 1,062 1,845 1,474 879 1,473 354 1,722 12,003 55,985 18,953 9,246 25,047 14,477 25,465 2,573 8,061 3,635 1,926 3,803 1,831 4,621 669 930 935 3,389 2,129 1,151 979 205,584 828,298 182,146 118,749 185,538 112,865 427,265 RESOURCES AMD LIABILITIES OF THE FEDERAL-RESERVE BANKS ON JULY 22, 1931 B-423C (In thousands of d o l l a r s ) L I A B I L I T I E S Rich. Atlanta Chicago St.Louis Minn. Kins. Cy. Dallas San Fran. Total Boston New York P h i l a . Cleve. F.R.notes in a c t u a l c i r c u l a t i o n 1,730,752 135,603 295,99s 145,888 198,96s 67,364 115,972 379,927 72,26s 49,623 63,393 27,471 177,777 Deposits: 2,431,202 l41,805 1,037,796 145,349 189,331 59,927 56,053 320,757 68,436 46,954 82,044 53,649 179.701 Member "bank - reserve account 422 1,409 17,990 1,025 2,641 917 1,866 2,305 1,360 1,699 1,740 1,264 1,342 Government deposits 4,145 1,329 2,134 1,402 1,768 58,481 4,572 17,576 6,035 6,157 2,438 2,195 8,230 Foreign "bank 4l 266 iqg 98 7.372 1,318 81 144 26.732 19 10.384 77 6,734 Other deposits 2,535,005 147,4a 1,113,397 152,373 204,088 64,814 59,689 332,004 72,576 49,818 85,252 55,941 192,627 Total deposits 44o,44o 49,838 114,942 38,863 43,659 31,851 11,333 54,919 20,653 8,443 23.533 15,480 26,376 Deferred a v a i l a b i l i t y items 4,336 16,735 15,696 5,676 5,132 19,633 4,812 2,939 4,219 4,216 ll,4l6 166,796 11,836 Capital p a i d in 30,575 27,065 28,971 12,114 10,857 39,936 10,562 7,144 8,702 3,936 13,475 274,636 21,299 Surplus 821 594 339 732 117 916 736 2,051 1.379 1,275 3,371 13,514 All other l i a b i l i t i e s JJ1 5,161,143 366,130 1,673,169 381,046 492,29s 183,055 205,534 828,298 182,146 118,749 185,533 112,865 427,265 TOTAL LIABILITIES 78.2 57.8 57.4 71.0 89.2 75.8 83.8 66.3 77.9 86.3 91.1 84.3 83.3 Reserve r a t i o (per cent) Contingent l i a b i l i t y on "bills p u r 98,59s 29,436 30,031 11,894 10,704 4o,i4o 10,407 6,339 8,623 8,920 20,219 chased f o r f o r e i g n correspondents 293,111 22,300 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R-bank by F.R.Agent 2,135,9^5 lo2,4l6 405,193 26,813 Held by Federal reserve bank 1,730,752 135,603 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 held by agent a s s e c u r i t y f o r notes issued to bank 612,709 35,300 Gold and gold c e r t i f i c a t e s 1,390,630 124,617 Gold fund - F. R. Board 210,063 12.960 E l i g i b l e paper 2,213,402 172,877 Total c o l l a t e r a l Total B i l l s discounted B i l l s bought in open market C e r t i f i c a t e s and b i l l s Municipal warrants 351,919 65,000 24.467 441,386 Within 15 days 181,602 ' 111,950 67,033 19,087 441,813 26,850 99 430,635 170,711 226,635 75,014 131,992 465,474 86,304 54,380 67,193 33,911 231,280 134,637 24,823 27,667 7,150 16,020 85,547 14,036 4,757 3,800 6,440 53,503 295,998 145,888 198,968 67,864 115,972 379,927 72,268 49,623 63,393 27,471 177,777 38,700 121,300 14.913 174,91s 12,550 200,000 20.540 233,090 10,070 10,900 48:^500 101,300 19.107 20.209 77,677 132,409 7,300 73,900 15,330 6,740 333,000 6i,4oo 43,200 61,000 15,550 15.130 9.787 4,630 10,749 12-450 472,030 36,517 5'4,570 71,749 35,300 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to 6l to 90 days 31 to 60 days lo to 30 days 5 months 12,963 10,764 26,700 99 21,769 5,591 105,597 21,902 31,490 29,700 50,000 165,763 45.116 260,879 Over 0 months 12,656 352 137,573 115,393 101
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