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STATEMENT FOR THE PRESS Released f o r p u b l i c a t i o n F r i d a y morning, Oct. 30; not e a r l i e r . B-539 F e d e r a l Reserve Board October 29, 1931• CONDITION OF FEDERAL RESERVE BA1JICS The d a i l y average 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 ending October 28, 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 b a n k s , was $2,232,000,000, a decrease of $46,000,000 compared w i t h t h e p r e c e d i n g week and an i n c r e a s e of $1,241,000,000 compared w i t h the c o r r e s p o n d i n g week i n 1930. On October 28 t o t a l r e s e r v e bank c r e d i t amounted to $ 2 , 2 1 1 , 0 0 0 , 0 0 0 , a d e c r e a s e of $27,000,000 f o r t h e week. This d e c r e a s e c o r r e s p o n d s with d e c r e a s e s of $24,000,000 i n money in c i r c u l a t i o n , $47,000,000 i n member bank r e s e r v e b a l a n c e s and $19,000,000 in unexpended C a p i t a l f u n d s , nonmember bank d e p o s i t s , e t c . , o f f s e t i n p a r t by d e c r e a s e s of $49,000,000 i n monetary g o l d s t o c k and $13,000,000 in T r e a s u r y 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 b i l l s d e c l i n e d $20,000,000 a t t h e F e d e r a l Reserve Bank of Hew York, and i n c r e a s e d $10,000,000 a t Chicago, $9,000,000 a t C l e v e l a n d , $5,000,000 a t A t l a n t a , $5,000,000 each a t P h i l a d e l p h i a and Kansas C i t y and $19,000,000 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 $44,000,000, while h o l d i n g s of United S t a t e 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 year ending October 28, 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 Oct. 23 1931 Oct. 21 1931 Oct. 29 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 BALTIC CREDIT Monetary gold s t o c k T r e a s u r y currency a d j u s t e d 717 725 727 42 +19 - 4 4 - 2 27 + 515 + 559 + 126 +25 +1,226 2,211 4,287 1,7-51 49 13 - 245 - 30 ioney i n c i r c u l a t i o n 5,480 [ember bank r e s e r v e b a l a n c e s 2,229 Unexpended c a p i t a l funds,nonmember d e p o s i t s , e t c . 550 24 47 19 +1,054 - 239 + 134 Released f o r p u b l i c a t i o n Friday morning, Oct. 30,1531; not e a r l i e r . B-"39 a RESOURCES AZD LIABILITIES OP TH3 TWELVE F333RAL BSS&IVB BANKS COMBINED ( i n thousands of d o l l a r s ) Oct. 28.1931 Oct. 21.1931 Oct. 29,1930 769111 1,537,885 68,127 1,506,012 339,691 818, UlU 1,590,116 34,755 1,524,871 504,355 907,957 2,738,431 164.420 2,764,117 163,277 3,037,193 154,531 2,902,551 71,740 2,927,394 69,149 3,191,774 71,364 330,747 385,933 300,064 398,247 71,572 130,031 716,680 724,680 693,311 769,066 201,603 165,658 316,422 22,829 387.708 316,470 22,828 387,706 38,195 287,827 275,4i6 726,959 727,004 501,438 2Q.919 2,198,238 8,792 16,863 30,017 5,322 2,224,39s 975,021 8,760 16,931 701 17,091 HE S O U R C E S Gold with Federal r e s e r v e agents Gold redemption f u n d w i t h U.S.Treasury . , Gold hold e x c l u s i v e l y a g a i n s t F . B . n o t e s Gold s e t t l e m e n t f u n d with F. H. 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 o t h e r than g o l d Total reserves Eon-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 in open mar Ice t 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 T o t a l b i l l s and s e c u r i t i e s . . . Dae from f o r e i g n banks F. B. notes of other banks Uncollected items Bank premises . All other r e s o u r c e s . . . 1,519,190 70,171 1,589,361 379.959 432,57° 483,455 526,697 . . . . 5,731.549 5,227,102 4,856,183 F. R. notes in a c t u a l c i r c u l a t i o n . . . . Deposits: liiember bank - r e s e r v e account Government Foreign bank Other d e p o s i t s 2,383,948 2,383,362 1,3:4,881 2,228,875 2,275,506 24,492 160,910 2,468,280 46,350 19,443 Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All o t h e r l i a b i l i t i e s 2,460,065 2,507,258 428,g,6ar z - 478,116 2,519,411 TOTAL RESOURCES L I A B I L I T 59,382 41.104 59,382 37,533 59,632 13,903 I E S 3^,141 157,618 34,431 l64,6§0-""V/ 517,004 170,444 __ 19,389 274,636 19,062 . . . 5,731,549 5,827,102 R a t i o of t o t a l r e s e r v e s to d e p o s i t and F. It. note l i a b i l i t i e s combined . . . 59 . 96h 53-3fo 82.4$ Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n correspondents . . . . . . 82,879 68,335 433,529 TOTAL LIABILITIES 274,636 164,658 26,674 ',014 275,936 17,507 4,855,183 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BA-IXS OH OCTOBER 28, 1931 ( I n thousands of d o l l a r s ) B-539 T o t a l Boston New 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 Fran. Go"1 d with F e d e r a l r e s e r v e a g e n t s 1,519,190 9 : S,527 299,950 191,000 194,430 49,670 52,900 4 l 3 , l 4 0 35,335 35, 595 31,580 21,500 95,763 'JoId redemption f u n d w i t h TT.R-frea.aurv 70.171 4.89? 17.?S4 5.527 7.630 3.0% 4,437 8.7SQ UJt5 SJ&Z MZL R E S O U R C E S 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 1,589,361 Gold s e t t l e m e n t f u n d w i t h F. R. Board 379,959 Gold and gold c e r t i f . h e l d "by t a n k s 769rlH 196,527 202,110 38,177 26.425 52,720 1-5,951 5.218 57,337 421,900 8 , 7 7 4 42,039 9.403 62,606 39,257 14,7^7 12,181 37,420 12,097 5,6o4 34,525 lo,Sl5 10,010 T o t a l gold r e s e r v e s Reserves other than gold 2,738,431 147,234 1 , 0 0 7 , 7 4 5 245,153 255,712 164.420 1 8 . 408 38.152 10.738 13.368 74,839 9 . 281 75,51^ 525,525 5,q48 3 0 , 5 l 5 65,185 10,233 55,181 4,228 61,450 45,656 163,037 Total reserves j l o n - r e s e r v e cash B i l l s discounted: Secured "bv U.S.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 2,902,851 165,642 1,045,907 71,740 10,253 22,345 84,170 2,929 81,562 5 5 7 , i 4 l 76,418 3,338 59,409 1,772 69,727 9,580 10,592 13,672 24,254 31,478 1,529 4,840 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 101,519 9,630 36.085 160,566 529.945 18,103 33.523 258,891 3,532 280,080 3,322 3,9^7 14,549 60 10,270 7,711 31 11,373 12,364 25 4,g4l 18,314 9,782 27,091 31,211 24,879 19,115 17,130 - 55,187 1,980 23,650 195 33.945 108,887 2,526 132.532 22,932 3,557 32.086 25,543 219 47.781 ll,01b 95 16.295 57,790 29,919 1,970 243,945 14,585 58,585 6,760 73,543 27,4o6 17,304 100,364 726,959 2,198,238 154,424 8,792 lo,S53 432,579 59,382 41,104 690 233 51,007 TOTAL RESOURCES 5,731,549 386,756 3,458 1,049 700 598,244 184,251 231,103 3,248 5,566 315 853 3,715 2.467 2,572 3.57 2 1 , 8 3 5 , 1 4 7 489,536 571,155 214,670 206,256 15,240 1 4,985 883 953 4i,653 7,902 5.24-9 87,236 102,572 350 1,152 129,012 9H 163 36,9^2 2,Sl4 2.132 oOO 32,651 10,863 52,210 171,694 2,800 5,257 53,460 11,438 273' 3,595 47:131 16,177 316,422 22,829 3^7,703 5,369 630 609 291,149 87,583 57,479 2,035 1,243 2,446 47,937 8,05l 2. 3o7 26 1,533 18,291 3,536 2,259 920,044 193,134 17 733 8.185 1,926 1 • 399 7,988 2 , 5 5 ^ tt,o07 25,622 58,103 39 , 275 50,369 1 2,7^5 11,712 52,101 30.542 63.924 50,948 29,819 35,444 19,355 133,550 103,199 101,317 42,564 47,156 71,456 201,054 15,707 5 6 , 2 4 ] 16,566 37,512 116,744 2,460 8.786 1,955 24,458 34,03^ 5,345 69,261 19.479 35.259 24,824 104,520 2 2 , 4 l l 84,539 1 1 , 7 22 7.254 18,976 75,588 6,058 o,277 23,922 104,590 17,802 3,932 25.397 33,385 4l>106 330,747 365.933 716,680 724,680 Due f r o m f o r e i g n banks F. 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 317,234 - 93,6o5 64,365 246,226 253 262 59^ 1,202 327 1,552 20,971 13,315 2 1 , 7 4 l 3,804 1,832 4,622 2J12 3> 4q7 ljj-50 130,920 192,516 138,579 452,836 L I A B I L I T I E S RESOURCES AHD LIABILITIES OP THE FEDERAL RESERVE BAEKS Oil OCTOBER 2 8 , 1 9 3 1 ( i n thousands of d o l l a r s ) B-539c Total Boston New York p h i l a . CIeve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. ICans.Cy. Dallas San Fran. 2,353,5^8 147,813 471,325 262,307 304,325 96,686 117,548 483,581 84,84s 61,922 76,455 50,557 226,417 5\2„ n o t e s in a c t u a l c i r c u l a t i o n DtiuCR-ts: l.l~;..:b3r "bank - r e s e r v e account 2,228,875 142,418 1 , 0 0 4 , 3 1 130,580 153,557 Government 10,042 39,i4I 1,315 1,917 3 , o i 4 "foreign bank 157,618 11,432 55,342 15,090 15,395 Other d e p o s i t s 34,431} 23 18,199 203 7,519 T o tal d e p o s i t s 2,460,065/155,188 1,087,898 147,790 179,485 D e f e r r e d a v a i l a b i l i t y items 422, So I 50,222 125,152 35,118 41,454 C c p i t a l paid in 164,65a 11,771 54,192 16,721 15,332 F;Ui>-,i r -nl 11 q 274,535\ 21,299 80,575 27,065 28,971 All o t h e r l i a b i l i t i e s 19,339 463 6,002 1,527 535 TOTAL LIABILITIES i,731,549 385,756 1,835,147 459,536 571,155 RQ•9 I 54.7 Re: erve r a t i o (per c e n t ) 67.I 63.1 57.9 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 82,879 >,975 29,425 7,387 8,o46 Federal reserve notes: I s s u e d to F.R. banlc by F . R . a y e n t 2J20,052 180,828 Held by F e d e r a l r e s e r v e bank 3 3 6 , l l 4 33,015 In a c t u a l c i r c u l a t i o n 2 ,383,948 147,813 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 notes i s s u e d t o bank Gold and gold c e r t i f i c a t e s 590,510 42,010 Gold f u n d - F. R. Board 928,680 54,517 E l i g i b l e paper 1,338,851 88,784 Total c o l l a t e r a l 2,858,041 185,411 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 w a r r a n t s 57,429 3,736 6,097 152 57,4i4 31,599 5,572 12,114 885 214,670 51.3 50,808 303,143 2,914 3,533 20,577 a 42 5,487 90 59,299 327,945 10,99% 47,550 5,203 18,403 10,857 39,936 62,636 2,929 5,335 258 71,218 20,326 4,768 10,552 1,412 193,134 2,255 2,629 206,256 920,044 46.1 68.7 49.0 2,808 3,187 10,754 2,788 43,92s 2,342 3,506 >-:io 50,186 7,787 2,974 7,144 907 130,920 53.0 1,832 152,057 75,175 2,305 4,420 92 81,993 52,829 1,491 4,572 167 2,310 2,390 5,417 64,939 14.382 269,933 3,492 10,365 6,676 59,059 172,590 14,577 23,017 4,203 4,151 11,358 8,702 2,935 18,475 596 1,199 979 192,510 138,579 452,836 44.0 47.x I 43.0 20,567 FEDERAL RESERVE '.TOTE STATEMENT 520,103 255,921 341,245 105,577 134,245 571,750 89,824 64,928 87,669 48,775 25,5l4 36,859 8,991 15,597 88.169 4.976 3.005 11,214 471,328 262,307 304,385 96,686 117,548 483,581 84,848 61,922 75,4:55 219,950 38,700 57,430 10,070 10,900 92,140 80,000 152,300 137,000 39,600 42,000 321,000 295,745 104.704 149.834 57,011 82.356 177.233 14,635 22,200 53.191 7,495 28,200 30.459 595,695 295,704 344,264 106,581 135,256 590,373 90,026 55,154 103,: Total Within 15 days 715,580 724,580 387,703 2,429 496,9 25 113,109 25,395 9,880 21,800 71.988 MATURITY BISTRBUTIOH i IOH OF BILLS AIJD SHORT TER:' TZIu' SECURITIES 91 days to l 6 to 30 days 31 t o 60 days 6 l to QO days 5 months 52,234 102,795 51,075 12,390 114,504 214,263 275,279 7,525 106,760 51,390 17,602 121,046 10 250 2,156 13 43.516 50,557 226,417 12,300 75,000 9,200 20,763 43.878 1 8 3 . 6 % 55,378 279,421 Over 6 months 1,261 65,515
@FedFRASER