The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOE THE PRESS 3-262 Federal Reserve Board March 5, 1931. Released for p u b l i c a t i o n Friday morning, Mar., b; not e a r l i e r . CONDITION 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 d u r i n g the week ending March 4, as r e p o r t e d "by t h e Federal r e s e r v e "banks, was $921,000,000, an i n c r e a s e of $8,000,000 compared with t h e p r e c e d i n g week and a d e c r e a s e of $242,000,000 compared with t h e corresponding week i n 1930. On March 4 t o t a l r e s e r v e "bank c r e d i t amounted to $908,000,000, an i n c r e a s e of $4,000,000 f o r the week. This i n c r e a s e corresponds with an i n c r e a s e of $6,000,000 i n money i n c i r c u l a t i o n and a decrease of $22,000,000 i n Treasury c u r rency, o f f s e t i n p a r t "by an i n c r e a s e of $9,000,000 i n monetary gold s t o c k and dec r e a s e s of $13,000,000 i n member bank r e s e r v e "balances and $2,000,000 i n unexpended c a p i t a l f u n d s , e t c . 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 $2,000,000 each a t t h e F e d e r a l Reserve Banks of Cleveland and A t l a n t a and i n c r e a s e d $6,000,000 a t the F e d e r a l Reserve Bank of San F r a n c i s c o , a l l F e d e r a l r e s e r v e banks combined showing a small i n 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 decreased $5,000,000 and of T r e a s u r y notes $15,000,000, while h o l d i n g s of Treasury c e r t i f i c a t e s and b i l l s i n c r e a s e d $14,000,000. Changes in 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 during t h e week and t h e year ending March 4, 1931, were a s f o l l o w s : I n c r e a s e or decrease since Mar. 4 1931 Feb. 25 1931 Mar.- 5 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 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 TOTAL RESERVE BANK CREDIT Monetary gold s t o c k Treasury currency a d j u s t e d 191 101 600 17 908 4,672 1,762 Money i n c i r c u l a t i o n 4,575 Member bank r e s e r v e b a l a n c e s 2,365 Unexpended c a p i t a l funds,nonmember d e p o s i t s , e t c . 401 + 1 + + 1 9 w 5 - 118 - 170 + n4 - 22 + 4 + 9 - 197 + 310 - 22 - 37 + 6 - 2 + 44 + 50 - 13 — 20 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, Mar. 6 , 1 9 3 1 ; not e a r l i e r . B-2bl RESOURCES JED LIABILITIES OF THE TWELVE IE3EAL 3»i$5ElVE BAMS COMBINED ( i n t h o u s a n d s of d o l l a r s ) Mar. 4 , 1 9 3 1 Feb. 2 5 . 1 9 5 1 Mar. 5 . 1 9 3 0 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 . . . . 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 . 1,705,384 33,620 1,724,089 34,467 1,615,230 53,770 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 Gold s e t t l e m e n t f u n d w i t h F. B. Board . Gold and g o l d c e r t i f i c a t e s h e l d "by banks 1,739,004 491,679 863,6l4 1,758,556 472,060 850,706 1,669,000 648,85b 677,667 Total gold reserves Reserves other than gold 3,094,297 175,990 3,081,322 179,194 2,995,523 188,436 3,270,287 75,634 3,260,516 76,037 3,183,959 67,857 R E S O U R C E S . . . . Total reserves . . . . 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 d i s c o u n t e d 63,258 127,318 o O 1 4 8 , 8 9 0 129,340159,726 190,576 100,555 189,847 106,317 308,616 271,302 76,123 168 , 293 355,451 75,731 183,074 340,638 69,660 209,665 206,820 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 509 g£y 599,443 - 486,145 12,230 T o t a l b i l l s and s e c u r i t i e s . Due f r o m f o r e i g n b a n k s 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 890,998 698 16,239 516,299 53,196 19,729 895,607 699 15,750 522,264 58,192 19,085 1,078,193 722 26,727 6o4,96o 53,419 14,785 4,848,080 4,848,150 5,035,622 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 1,459,837 l,44S,4l6 1,641,426 2,365,192 43,644 5,197 lb,737 2,378,411 25,847 5,200 18,111 2,315,190 6,732 7,710 19,476 Total deposits D e f e r r e d 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 2,430,770 "00,381 109*092 274,636 13,364 2,427,569 515,070 169,135 274,636 13,324 2,349,108 578,44o 172,064 276,93b 17,648 4,848,080 4,348,150 5,035,622 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 : Bond s •.Treasury n o t e s C e r t i f i c a t e s and b i l l s . . . . TOTAL RESOURCES L I A B I L I T I E S TOTAL LIABILITIES . . 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 . . . 84.1$ 84.1% 79.8$ 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 462,261 453,814 505,179 RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE 3A1KS OH MARCH 4, 1931 R E S'O U R G E S ( I n thousands of d o l l a r s ) T o t a l Boston Hew York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Gold with Federal reserve .agents 1,705,384 144,917 366,919 loO,000 192,550 84,080 136,400 191,000 73,880 Gold redemption fund with U.S.Treasury 33,620 1,284 13,596 1,232 2,652 1,024 1,110 4,026 1,548 Gold held 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 1,739,004 l 4 6 , 2 0 1 380,515 l 6 l , 2 3 2 195,202 85,104 137,510 195,026 75,^28 Gold s e t t l e m e n t f u n d With F. R. Board 491,679 31,753 137,017 4 l , 4 5 2 49,038 14,546 13,942 107,392 18,543 Gold and gold c e r t i f . h e l d by banks 8 6 3 , 6 l 4 36,181 551,288 30,486 67,550 5,634 7,533 97,433 10,831 Total gold reserves 3,094,297 214,135 1,068,820 233,170 311,790 105,284 158,985 399,838 104,802 Reserves other than gold 176.990 16.582 48,778 10,891 l4,127 11,382 8,169 22,362 l l , 6 o 6 Total reserves 3,270,287 230,717 1,117,598 244,061 325,91 7 116,566 167,154 422,200 116,408 8,804 4,845 10,419 18,096 4,374 :T on—reserve cash 5,212 5,255 75,634 5,H5 B i l l s discounted: 6,234 Secured by U.S.Govt, o b l i g a t i o n s 8,215 63,258 1,093 3,495 15,185 3,657 7,703 353 Other b i l l s discounted 5,654 127,318 23,649 15,741 i o , 4 4 i 15,743 14,419 10,444 5,890 T o t a l 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 n o t e s C e r t i f i c a t e s and b i l l s T otal U.S. Govt, s e c u r i t i e s T ot al 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 other banks U n c o l l e c t e d items Bank premises All other resources TOTAL RESOURCES 68,410 15,235 13,643 97,288 8,180 69,052 105,468 1,960 2,032 27,129 220,241 1^,763 38,991 4,920 29,90% 46,812 289,l4o 8,977 10,217 55,789 299,357 6,043 3,479 848 10,462 213 7,34s 15,885 4,111 9,149 4,931 3,793 3,747 11,310 4,554 7,561 3,387 19,996 11,127 5,026 7,874 13,H6 1,179 8,766 24,583 10,380 5,015 I4,O42 2-JOO 17,215 21,858 26,016 34,528 29,437 39,473 33,556 16 6o4 8,477 1,926 543 50,392 20 1,333 30,677 3,803 270 40,385 21 337 23,371 1,830 885 70,596 48 1,954 27,838 4,621 560 9,547 8,435 38,834 29,826 23,444 2,372 18,656 10,545 16,836 1,745 76,123 168,293 355,^51 1,820 11,916 32,817 30,179 4i,i4o 112,609 1,353 17,110 32,101 1,161 22,433 34,765 1,531 4,364 11,366 599,867 46,553 183,928 50,564 58,359 17,261 211 22,191 692 12,058 16,503 3,899 3,643 43,150 11,401 7,753 81,844 24,151 890,998 698 16,239 516,299 58,196 19,729 64,535 52 253 55,182 3,458 240 252,588 229 5,073 138,348 15,24O 7,260 76,380 87,660 35,842 28 71 69 201 1,217 932 47,565 47,109 36,310 2,6I4 7,070 3,365 486 1,331 1,179 28,987 111,846 38,231 94 25 25 2,135 1,235 9b5 16,102 64,159 21,161 8,061 3,635 2,573 l,74o 3,906 1,329 16,678 13,324 47,006 9,007 8,220 64,233 4,819 377 3,4l6 190,576 100,555 14,772 6,%2 B-262b Minn. Kans.Cy. Dallas San.Fran. 46,525 67,000 26,350 215,7o3 481 1,410 779 4,478 4,848,080 363,241 1,554,432 375,750 475,302 199,622 224,557 620,243 187,690 116,206 193,923 126,097 411,017 L I A B I L I T I E S J 1 .R.notes i n a c t u a l c i r c u l a t i o n Deposits: Lember "bank - r e s e r v e account Government d e p o s i t s Foreign "bank 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 C a p i t a l p a i d in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES Heserve r a t i o ( p e r c e n t ) 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 c o r r e s p o n d e n t s RESOURCES MB LIABILITIES OF THE FEDERAL RESERVE BAMS OH MARCH 4, 1931 B-262C ( I n thousands of d o l l a r s ) Kn.ns.C,v. Dallas San Fran. Total Boston Hew York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s 48,053 66,659 27,213 165,522 l , 4 5 9 , 2 3 7 125,325 267,182 137,665 120,763 81,737 130,089 151,403 77,726 57,305 177,081 4,121 2,312 156 353 5,366 27 61,609 185,112 23 , 3 73 29,757 l i l 4,324 11,465 18,475 8,936 & § ! ahMs £ 5 ! *;§ 686 642 4 13,364 180 3,065 253 1,061 779 1,995 2,115 1,334 799 55 4,242,080 363,241 1,554,432 375,750 475,302 199,622 224,557 620,243 187,690 116,206 193,923 126,097 411,017 62.8 85.4 84.1 83.9 87.6 24.7 85.1 80.0 27.5 85.1 78.6 71.1 69.5 2,365,192 144,362 43,644 4,450 5,197 389 16,737 76 926,306 145,753 19^,841 62,077 1,571 12,434 4,204 5,047 208 1,713 51^ 524 69 7,949 103 1,70^ 58,687 337,930 69,115 47,918 833 666 1,288 5,233 119 122 187 701 l48 324 97 586_ 83,812 885 151 288 fssfs 462,261 34,762 151,256 45,886 46,213 12,540 16,626 62,572 16,222 10,060 • 48,053 7,825 38,700 6,553 53,078 13,905 13,441 31,518 FEDERAL RESERVE HOTE STATE:, J3HT Federal reserve notes: I s s u e d t o F.S.bank 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 agent as s e c u r i t y f o r n o t e s i s s u e d 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 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 1 ^ 5 ' 1,459,237 125,225 — 267,122 137,665 180,763 21,737 130,089 151,403 77,726- 614,654 35,300 1,090,730 109,617 255,540 16,185 1,960,924 161,102 351,919 32,700 12,550 10,080 2,900 62,000 15,000 121,300 120,000 74,000 127,500 123,000 54,784 2 2 , 2 l 4 26,447 17,348 19,426 26,700 4 a , 7 0 3 182,214 218,997 101,422 155,826 217,700 14,080 59,800 12,366 86,246 Total Within 15 days 190,576 100,555 355*451 120,439 35,6o4 lo.%l " 66,659 27,213 165,522 67,000 14,737 7,300 60,000 19,050 155,763 9,515 29,265 81,737 35,865 245,028 MATURITY DISTRIBUTION OF BILLS AITD SHORT TERM SECURITIES 91 days to 6 l to 90 days l b to 30 days 31 to 60 days 6 months 8,315 14,374 24,779 19,318 311 2,732 21,41-4 40,482 130,773 32,000 Over 6 months 3,351 192,678
@FedFRASER