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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, May 15; not e a r l i e r . B-348 F e d e r a l Reserve Board May 1 ^ , 1931* CONDITION OF FEDERAL RESERVE BAMS The d a i l y average volume of F e d e r a l r e s e r v e 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 May 13, a s 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 b a n k s , was $933,000,000, a d e c r e a s e of $39,000,000 compared w i t h t h e p r e c e d i n g week and of $49,000,000 compared with the c o r r e s p o n d i n g week i n 1930. On May 13 t o t a l r e s e r v e bank c r e d i t amounted t o $918,000,000, a d e c r e a s e of $49,000,000 f o r the week. This de crea se corresponds with d e c r e a s e s of $3b,000,000 i n money i n c i r c u l a t i o n and $4,000,000 i n unexpended c a p i t a l f u n d s , e t c . , and an i n c r e a s e of $23,000,000 i n monetary gold s t o c k , o f f s e t i n p a r t "by an i n c r e a s e of $3,000,000 i n member bank r e s e r v e "balances and a d e c r e a s e of $10,000,000 i n Treasury c u r r e n c y a d j u s t e d . Holdings of d i s c o u n t e d "bills i n c r e a s e d $3,000,000 a t the F e d e r a l Reserve Bank of New York and $2,000,000 a t Boston, and d e c l i n e d $11,000,000 a t San F r a n c i s c o , $2,000,000 a t Richmond and $5,000,000 a t a l l F e d e r a l r e s e r v e banks. The System'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 $41,000,000 while h o l d i n g s of U. 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 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 the week and t h e y e a r ending "ay 13, 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 May 13 1931 May 6 1931 May l 4 1930 ( I n m i l l i o n s of d o l l a r s ) -65 145 153 598 21 - 5 -4l -3 -18 +70 -21 TOTAL RESERVE BAI3: CREDIT Monetary g o l d stock Treasury c u r r e n c y a d j u s t e d 918 4,766 1,773 -49 +23 -10 +264 -27 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 p i t a l funds,nonmember d e p o s i t s , e t c . 4,627 2,421 408 -36 + 3 - 4 +180 + 42 - 20 Bills 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 - 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, May 1 5 , 1 9 3 l ; n o t e a r l i e r . B~348a RESOURCES M B LIABILITIES OF THE TWELVE FEDERAL HESS&VE BAHS COMBINED ( i n thousands of d o l l a r s ) M.av 13.1931 May 6.1931 1,757,354 32,623 1,774,714 32,624 1,807.333 May 14,1930 R E S O U R C E S 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 y n d with 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 F. R . n o t e s 1,790,437 i,64o,si4 40,722 1,681,536 6o4,223 815,899 578,49s 736,44i 794,565 T o t a l A'old r e s e r v e s R e s e r v e s o t h e r t h a n gold 3,210,509 173,275 3,172,277 172,704 3,07U,0S2 174,177 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 . . . . . . . . 3,338,334 71,461 3,344,981 68,033 3,248,259 66,349 53 , 297 33,543 126,943 Gold s e t t l e m e n t f u n d w i t h F. R. Board . Gold and gold c e r t i f i c a t e s h o l d by banks 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 n o t e s . C e r t i f i c a t e s and b i l l s 4 3 ,8 3 2 l44,go4 91,905 150,202 153,105 193,869 171,035 59,080 52,431 193,816 95,072 . . . . 597,931 59,015 52,228 52,227 210,436 281,655 437,171 487,044 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 593,414 1,113 598,351 1,100 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 banks I . E . n o t e s of o t h e r banks . . . j. . . . Uncollected items ' Bank p r e m i s e s All other resources 397,544 693 15,475 542,396 53,432 13,760 943,522 697 491,937 58,424 13,351 705,492 58,580 4,993,703 4,941,197 5,030,433 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 Foreign bank Other d e p o s i t s 1,523,310 1,540,783 1,464,897 2,^20,793 2,417,734 24,716 2,379,360 12,337 5,31$ 5,575 23,515 23,107 Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surolus All other l i a b i l i t i e s 2,433,131 522,909 168,453 274,636 2,471,540 2,420,330 469,523 674,399 16,214 274,636 15,020 174,154 276,936 19,222 4,993,703 4,941,197 5,030,438 TOTAL RESOURCES . 15,202 527,902 10,600 920,023 712 18,654 12,369 L I A B I L I T I E S TOTAL LIABILITIES 36,200 20,369 163,590 5,526 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 . . . 84.5# 83.4$ 83.6# 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 . . . . . 354,907 402,752 471,64s RESOURCES A1TD LIABILITIES OF TEE FEDERAL RESERVE BASKS 017 MAY 1 3 , 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 ) T o t a l Boston Hew York P h i l a . Cleve. R i c h , A t l a n t a Chicago S t . L o u i s 1,757,364 146,917 3 6 1 , 9 1 9 160,00c 1 9 2 , 5 5 0 7 5 , 0 7 0 1 3 0 , 1 0 0 276,900 7 3 , 7 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 U?S.Treasury_ 32.623 1,165 Gold r e d e m p t i o n f u n d w i t h U Gold h e l d e x c l u s i v e l y a g a i n s t 1,790,487 148,082 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 , R . B o a r d 8^839 31:147 Gold and g o l d c e r t i f . h e l d by b a n k s T o t a l iKold r e s e r v e s R e s e r v e s o t h e r than g o l d Total reserves Eon-reserve cash B i l l s discounted: Secured by U.Si Govt, 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.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 Due f r o m f o r e i g n banks Ft R. n o t e s of o t h e r banks U n c o l l e c t e d items Bank p r e m i s e s All other resources TOTAL RESOURCES 13,158 1,050 2,494 787 375,077 161,050 195,044 75,857 988 3,970 1,512 3 , i o o 210,763 1,061 4r430_ ^5^935 \ l ' , 0 9 8 62,6o4 93,156 3,866 7 , 2 5 3 66,470 100,4og 1,827 2,064 878 %7l 3^978 43,097 292,424 8,452 9,687 51,549 302,111 3,533 5,208 204 1,167 4,921 343 4,971 1,783 4,905 714 3,306 17,723 14,562 106 18,016 45,512 13,383 43 io,o4i 8,989 12,229 6,688 9,232 4,020 6,002 8,712 3,453 520 1,325 30s 10,132 623 50,623 62,632 1,110 32,231 18,403 319 10,545 38,128 33,780 23,224 48,932 18,073 144,504 153,108 11,235 31,837 59,015 1,202 rt 15,023 383 4,606 487,171 52,228 1,502 43,478 118,767 43.757 59s, 4 i 4 46,182 145,170 43,352 — 2 1,403 5,858 1,118 62,000 1,342 6,830 48,832 14,294 44,815 666 131,088 280,870 75,242 45,481 63,342 24,161 215,193 535J68 25:955 65:279 ^ 5 : 5 6 5 7:969 ^ 7 9 % 4 ^11*030 3,210,609 212,837 1,134,69s 251*059 312,484 92,60s 1 4 7 , 9 5 8 462,532 1 0 5 , 1 5 2 178,275 15,807 62,699 7,846 15,720 10,781 7,142 20,114 8,908 3,388,884 2 2 8 , 6 4 4 1 , 1 9 7 , 3 9 7 258,905 3 2 8 , 2 0 4 1 0 3 , 3 8 9 155,100 4 8 2 , 6 4 6 i l 4 , o 6 o 5,034 3,919 3,932 4,342 5,077 9,394 18,527 8,544 71,461 6,602 B-348b Minn. Hans. Cy. D a l l a s San F r a n . 11,380 1,100 - 11,543 - 19,441 430 20,590 1.972 28,l6S 3,875 16,733 58,566 666 3,976 20,800 7,502 600 17,451 29,983 20,916 81,128 25,442 25.553 IS - - - - 7,834 373 - 8,056 8,260 5,570 - 6,088 16,450 — 51,345 43,054 71.530 897,544 71,771 223,679 67,187 9 5 , 2 7 0 4 3 , 4 0 9 a 47 20 16 24 94 28 71 69 69s 52 231 f5 1,343 341 1,222 667 919 2,113 1,210 1,245 143 773 15,47s a5 5,287 9 . 8 9 0 26,37s 18,283 28,053 54,801 22,973 14,971 4 1 , 0 7 4 5 2 , 282 48,050 542,396 62,626 153,015 58,482 3,45s 15,240 2 , 6 i 4 7,216 3 , 5 0 4 2 , 5 7 3 8,061 3 , 6 3 5 1,926 3,803 1,831 4,621 802 746 U69 1,196 757 795 18,760 463 5.669 1,030 1 , 3 4 5 1,227 3,66l 4,933,703 375,773 1,619,045 3 8 1 , 9 1 7 439,693 198,183 222,59s 630,,702 189,011 117,398 186,310 119,353 4 1 3 , 7 1 5 L I A B I L I T I E S F.R.notes in actual circulation Deposits: Member b a n k - 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 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' AInD L ^ x L i i x j i S OF THE FEDERAL H^SKRVE BAtiKS On „Jii x j , ( I n t h o u s a n d s of d o l l a r s ) B~34sc T o t a l Boston ITevr York P h i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San F r a n . 1 , 5 2 8 , 3 1 0 137,226 2 5 s , 3 2 3 140,179 1 2 7 , ^ 1 0 75,047 129,659 222,032 73,366 48,066 6 3 , 7 4 5 27,682 l o 5 , 4 l 5 2 , 4 2 0 , 7 9 3 l 4 o , 4 2 8 1 , 0 3 4 , 2 1 5 1 5 1 , 0 7 2 201,367 36,200 1,403 13,353 1,142 1,867 421 5,319 2,057 566 555 11,144 30 120 1 . 6 7 4 20,369 63,241 1,606 224 58,421 330,669 1,264 202 139 139 2,209 757 72,744 1,379 196 513 243 142,342 1,066,899 152,889 205,474 65,210 60,026 334,153 7 4 , 5 6 2 522,909 6 2 , 5 3 3 143,196 44,573 50,727 3 9 , 2 4 5 1 4 , 6 6 4 62,466 24,340 162,453 1 1 , 3 3 8 65,408 16,776 15,748 5,720 5,227 19.912 4,229 274,636 21, 299 2,114 10,357 39,936 10,562 2 0 , 5 7 5 27,065 28,971 16.214 4.584 435 J^2h3_ 535 1.35? 847 - 2 , 1 b . x 2,197 4 , 9 9 3 , 7 0 3 3 7 5 , 7 7 3 1,619,045 321,917 439,693 192,123 222,59; 680,702 189,011 84.5 90.4 82.3 2 3 . 5 21.2 26.8 73.7 77.1 2,483,181 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 M i 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 394,907 29 , 579 129,323 39,176 39,967 15,229 14,246 53,421 13,250 48,138 797 82,255 1,654 163 129 65 2QCL 49,264 24,137 57,149 1 3 0 , 4 3 4 1,822 2,174 16s 381 64 6,033 59,203 189,022 1 2 , 5 2 4 22*559 9 , 0 7 7 25,005 3,016 4,239 4,297 11,437 7,144 2,702 8,936 12,475 & 4S2_ *31. 2QZ_ JlL 117,392 186,310 119,352 4 1 3 , 7 1 5 68.3 67.9 85.2 59.3 9,101 11,476 11,371 26,908 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: I s s u e d t o F . R . b a n k "by F . R . A g e n t 1 J J 34,945 164,006 Held "by F e d e r a l r e s e r v e "bank 4o6,635 26,720 In a c t u a l c i r c u l a t i o n 1 ,528,310 137,226 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 616,224 32,300 Gold f u n d - F. R. Board 1 ,140,920 114,617 w? E l i g i b l e paper 276,288 — "25,528 v Total c o l l a t e r a l 2,034,152 172,445 395,603 1 6 5 , 3 9 5 137,220 25,216 258,323 140,179 26,068 148,592 289,350 84,771 53,061 69,738 34,556 226,872 11,021 1 8 , 9 3 3 67,318 11.405 4 . 3 3 5 5.993 6.574 61.457 127,510 75,047 1 29,659 222,032 73,366 4s,066 6 3 , 7 4 5 27,682165,415 216,333 29,423 351,919 32,700 1 2 , 5 5 0 10,070 9,400 73,900 1 3 , 9 3 0 1 0 , 0 0 0 121,300 180,000 65,000 120,700 203,000 59,800 6^ 1 .95 0 1 16,379 y-L 3 1 .t5juo. 2 2 1 2 , 5 2 0 110 8 .i7i9/ 3/ 31.32^ M» jQu 1 5 . 1 0 2 423,420 176,379 224,132 27,590 142,893 308,286 6,815 38,000 y.QH-i C.84S 62,000 1K.iio 7.778 7,300 60,000 15,200 150,763 14b 13,522 22,346 83,832 54,66o 79,778 36,628 233,109 MATURITY DISTRIBUTION OF BILLS MB SHORT TERM SECURITIES Total B i l l s discounted B i l l s b o u g h t i n open market C e r t i f i c a t e s and b i l l s M u n i c i p a l -warrants 144,904 153,108 427,171 18 Within 15 days 16 t o 30 days 23,371 74,212 13,926 36,592 19,200 - 31 t o 60 days 21,7 22 32,877 133,207 - 6 l to 90 days 11,929 8,524 30,350 - months^ 1 2,456 237 131,292 12 Over 6 months 1,500 172,622
@FedFRASER