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S2.ATEL3MT FOR SEE PRESS 3-401 F e d e r a l Reserve Board J u l y 2, 1931. Released f o r p u b l i c a t i o n F r i d a y morning, J u l y 3; not e a r l i e r . CONDITION OF FEDERAL RESERVE BANKS The d a i l y a v e r a g e week e n d i n g J u l y 1 , a s d e c r e a s e of $ 2 , 0 0 0 , 0 0 0 w i t h the c o r r e s p o n d i n g 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 r e p o r t e d "by t h e F e d e r a l r e s e r v e "banks, was $954,000,000, a compared w i t h t h e p r e c e d i n g week and of $77,000,000 compared week i n 1930. On J u l y 1 t o t a l r e s e r v e hank c r e d i t amounted t o $ 9 5 0 , 0 0 0 , 0 0 0 , a d e c r e a s e of $10,000,000 f o r t h e week. T h i s d e c r e a s e c o r r e s p o n d s w i t h a d e c r e a s e of $68,000,000 i n member hank r e s e r v e b a l a n c e s and i n c r e a s e s of $39,000,000 i n monetary g o l d s t o c k and $32,000,000 i n T r e a s u r y c u r r e n c y , a d , j u s t e d , o f f s e t i n p a r t "by i n c r e a s e s of $107,000,000 i n money i n c i r c u l a t i o n a n d $22,000,000 i n unexpended c a p i t a l f u n d s , etc. 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 $23,000,000 a t t h e 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 , $7,000,000 a t Chicago, $ 6 , 0 0 0 , 0 0 0 a t New York, $ 5 , 0 0 0 , 0 0 0 a t Richmond and $ 4 3 , 0 0 0 , 0 0 0 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 $ 3 , 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 $ 1 4 , 0 0 0 , 0 0 0 , w h i l e h o l d i n g s of U. S. bonds i n c r e a s e d $ 5 1 , 0 0 0 , 0 0 0 and of Treasury notes $7,000,000. 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 and i n r e l a t e d items d u r i n g t h e week and t h e y e a r ending J u l y 1 , 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 July 1 J u n e 24 July 2 1931 1931 1930 TTn 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 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 150 103 663 33 + - 4s 3 44 5 -110 - 54 + 67 - 23 TOTAL RESERVE BANK CREDIT Monetary g o l d s t o c k Treasury c u r r e n c y a d j u s t e d - 10 -120 + 32 - 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 • 2,389 Unexpended c a p i t a l funds,nonmernber d e p o s i t s , e t c . 4 4 l +107 - 68 + 22 +287 - 17 + 39 +4is 20 + 9 R e l e a s e d f o r p u b l i c a t i o n -Friday morning, J u l y 3,1931; n o t e a r l i e i B-401a RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL RESERVE BA2IKS COMBINED ( I n t h o u s a n d s of d o l l a r ' s ) July 1,1931 June 24,1931 J u l y 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 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 1,933,564 30,ID 7 1,903,284 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 Gold s e t t l e m e n t f u n d w i t h 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 h a n k 1,963,731 514,492 933,gig 1,933,450 475,278 973,861 1,568,014 36,675 1,6o4,689 610,593 778,127 Total gold r e s e r v e s . Reserves other than gold . . 3,4i2,o4i 167,257 3,382,589 175,059 2,993,409 157,835 . . 3,579,298 3,151,244 65,011 3,557,648 74,422 46,395 103,805 111,672 8b,OOo 105 , 234 155,179 103,341 197,678 106,390 26o,4i3 157 , 485 188,395 6O,74i 4i4,263 136,840 53,382 427 , 781 47,531 236,519 311,903 663,399 618,503 8,063 16,700 947,334 2,699 595,953 7,301 R E S O U R C E S Total reserves Son-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 150,200 10,601 Other s e c u r i t i e s F o r e i g n l o a n s on gold 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. 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 927,541 1,426 14,942 533,070 58,783 26,425 30,166 17,464 446,117 58,782 22,702 55,002 1,021,152 70S .19,950 663,5°7 59,561 12,033 5,206,49o 5,127,l6S 4,983,265 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 . . . . . . . . . 1,733,396 1,674,189 1,432,252 2,389,211 41,182 35,625 34,830 2,457,474 59,459 19,987 19,918 2,406,376 24,399 6,467 Total deposits 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 2,500,848 5H,815 2,473,805 274,636 12,631 2,556,338 435,785 log,244 274,636 17,476 5,206,49b 5,127,168 4,933,265 TOTAL RESOURCES . . . . L I A B I L I T I E S . . . . . TOTAL LIABILITIES 168,170 36,063 615,924 169,626 276,936 14,722 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 . . . 84.4$ 84.1$ 80.7$ 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 . . . . . . 335,334 367,700 481,269 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS JULY 1, 1931 ( I n t h o u s a n d s of d o l l a r s ) T o t a l B o s t o n Hew York F n i l a . CIeve. R i c h . A t l a n t a Chicago S t . L o u i s R E S O U R C E S r e S ^ f o n ^ ' ^ h R e l notes 1 U S ^ . , . , r v ' ^ o : l 6 7 ' t o 9 7 jealnst 1,963,731 151,014 ^ 2 ^ B-40113 Mimu Kans.Cy. D a l l a s San F r a n . " ' . " g ^ 3 ^36 "i',33 399,879 160,91s 204,953 63,804 119,272 440,836 71,724 48,423 62,326 1^1 %% « ^ ^ \%::% ^ O ^ l ' j l ? 22,904 217,678 ^ Total gold reserves Reserves other than gold 3 , 4 l 2 , o 4 l 213,303 1,183,4O4 259,509 319,926 167,257 1 1 , 3 3 4 56,796 6,o72 15,510 S3,536 133,478 606,347 1 0 5 , 2 7 2 11,190 8,07S—21, 210 8,525 66,155 3,952 jo+al reserves Non-reserve cash 3 , 5 7 9 , 2 9 8 224,637 1 , 2 4 0 , 2 0 0 266,181 335,496 65,011 7 , 7 4 8 17,328 3,4io 3,875 9 4 , 7 2 6 146,556 627,557 113,797 3,Si6 4,952 8,560 4,665 70,117 103,360 4 8 , 8 5 2 307,819 o t S r t m s t J a ! ^ ; e ? l i g a t i o n s Total, b i l l s d i s c o u n t e d B i l l s "bought i n open market 5:92! i ^ ' 3 27,868 i 6 , 5 i 6 150,200 103,341 11,569 9,278 33,700 183,395 66,74l 4l4.263 9,541 47,99s Total 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 m f o r e i g n banks s e c u r i t i e s : Treasury notes C e r t i f i c a t e s and b i l l s 1 EB?™" ™ All other resources TOTAL RESOURCES il'M 8:076 ikll! iJll 10,222 7:% 1,514 95,4l4 7,9^° 1.633 40,629 299,93s 8 ,lo3 7,881 3,073 4,437 I:™ zM iMl 9,130 7,374 5«^4o 4,025 3>703 8,741 5,874 9,611 8,099 4,o4l 10,775 5,090 11,535 1,153 15,077 6,599 2,117 27,802 13,891 1,220 15,919 29,587 10,784 23,o21 1,045 17,611 8,5o4 16,595 3,173 11,469 9»251 37.392 9,591 110,152 11,045 5.7&1 34.164 10,544 13,156 43.844 5,382 1,218 23.383 4,332 13,583 3,887 51,027 18,299 663,399 10,601 49,789 485 167,74l 5,9^0 50,970 750 67,544 635 29,983 245 20,74l 230 89,271 S35 28,055 225 27,705 36,518 301 255 ^20 550 927,541 1,426 71,121 69,281 52 235,219 957 69 94,354 71 49,996 28 4 l , 6 9 1 108,819 25 94 4i,6oo ^25 35,79% ^l6 51,388 20 44,862 21 83,416 48 26,425 680 10.194 1,034 1,884 1,36.7 1,147 852. 6lj> 3^2 2,11,1 2,856 8,491 2,826 34,357 4,06b 31,030 63,992 IE 1:1 i l "J 1:1 # # # 1:1 ?:t t# 3 ,321 2,)2] 5,206,496 374,552 l,684,124 394,681 4 8 9 , 8 3 4 193,795 212,633 819,726 185,000 120,158 180,305 1 1 5 , i ° l 430,467 L I A B I L I T I E S F.R.notes in actual circulation Deposits: Member bank - r e s e r v e a c c o u n t Government d e p o s i t s F o r e i g n "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 Capital paid in Surplus All other l i a b i l i t i e s RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 1, 1931 B-4oic ( I n t h o u s a n d s of d o l l a r s ) D a l l a s San F r a n . T o t a l B o s t o n Uew York P h i l a . Clevc. R i c h . A t l a n t a Chicago S t . L o u i s Minn. ICans.Cy. 1,738,395 136,300 306,521 1 4 5 , 9 8 1 202,116 71,890 120,13% 364,345 72,931 4 9 , 8 0 3 62,348 27,578 178,449 TOTAL LIABILITIES Reserve r a t i o (per cent) 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 chased for f o r e i g n correspondents 2,389,211 134,008 1,030,090 1 4 8 , 3 8 2 190,818 41,182 35,625 1,200 10,270 4,108 2,426 13,921 3,202 38 22,345 230 2,500,84s 137,672 1,076,626 155,922 511,815 67,299 151,703 4 8 , 8 9 5 168,170 1 1 , 8 3 7 65,454 16,757 274,636 a , 2 9 9 8 0 , 5 7 5 27,065 34,830 3,055 3.267 2,25s 199,398 42,783 15,689 28,971 872 12,531 5,206,496 374,552 1,684,124 394,681 439,834 ' gu.4 82.0 89.7 83.2 83.6 335,334 145 3.245 6l_ 25,996 102,759 34,314 35,008 59 ,692 58,841 324,824 70,915 47,421 3,338 744 84, 688 2,127 938 55,023 184,508 712 2,054 2,200 970 8,205 34 5.312 2,392 4,005 2,609 1,294 1 , 1 6 4 4,367 1,132 58 192 232 89 1,030 119 66,417 62,486 334,226 74,839 5 1 , 6 9 5 87,811 58 , 031 36,961 11.930 59.558 20,512 7,761 22,894 15,579 4,242 4,223 2,997 5,692 5,195 19,84c 4,31b 12,114 10,857 39,93o 10,562 7,144 8,702 3,936 745 387 1,290 758 721 2,031 1,813 193,795 212,633 819,726 185,000 120,15s 186,365 115,151 68.8 57.0 68.5 80.3 89.8 77.0 69.1 13,864 12,478 4 6 , 7 9 2 1 2 , 1 3 1 7.972 10,052 10,398 195,625 25,935 11,420 13,475 563 430,467 82.3 23,570 FEDERAL RESERVE MOTE STATE'MEiTI Federal reserve notes: I s s u e d t o F . R . b a n k by F.R.Agent Held by F e d e r a l r e s e r v e bank 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 notes issued to bank Gold and gold c e r t i f i c a t e s Gold f u n d - F. R. Board E l i g i b l e paper Total c o l l a t e r a l 2,111,944 158,200 426,559 171,749 225,810 80,017 137,367 446,673 31,339 54,837 6 8 , 6 4 2 34,001 226,700 8,45s 5,034 6,294 6,423 48,251 120,038 25,768 2 3 , 6 9 4 8 , 1 2 7 1 7 , 2 3 3 8 2,328 1,738,396 136,300 306,521 145,981 202,116 71,890 120,134 364,345 72,931 49,803 62,348 373.548 21,900 612,334 35,300 1,321,230 114,617 222,597 2,156,161170,705 Total 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 20,783 150,200 103,341 4l4,263 76 Within 15 days 82,503 52,l67 - « a a & £•% 15,067 24,860 I S , 3 4 4 20,507 16,821 12,578 428,243 175,067 227,410 so,914 138,607 453,721 82,808 41,324 7,37° 55,1^1 MATURITY DISTRIBUTION OF BILLS MD SHORT TERM SECURITIES 91 days t o 31 t o 60 days 6 l t o 90 days l 6 t o 30 days 6 months 18,723 15.976 19,765 12,509 6 16,223 16,157 18,788 139.023 124,597 37,550 10,500 76 27,578 178,449 gg « 61:0m 1 4 , 0 3 4 13,117 17,781 75,034 34,967 233,544 Over 6 months 719 102,593
@FedFRASER