H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication B-642 Friday morning, Jan. 15; Federal Reserve Board not earlier. January l4, 1932. COEDI?10?T OF FEDERAL RESERVE BAHS The daily average volume of Federal reserve bank credit outstanding during the week ending January 13, as reported by the Federal reserve banks, was $1,S87,000,000, a decline of $46,030,000 compared with the preceding week and an increase of $f12,000,000 compared with the corresponding week in 1931. On January 13 total reserve bank credit amounted to $1,834,000,000, a decrease of $87,000,-000 for the week. This decrease corresponds with decreases of $42. O-jO, 000 each in money in circulation and member bark reserve balances and an increase of $3,000,000 in Treasury currency, adjusted. Holdings of discounted bills increased $15,000,000 at the Federal Reserve Bank of Cleveland and $5,000,000 at Atlanta, and declined 610,000,000 at Chicago, $7)000.000 at Tew York and $5,000,000 at Philadelphia, combined holdings of all Federal reserve banks being substantially unchanged. The System's holdings of bil-s bcago.t in open market declined $61,000,000, of United States bonds $10,000,000 and of Treasury certificates and bills $4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January 13, I932, were as follows: Increase or decrease since Jan. 13 Jan. 6 Jan. l4 1\>32 1932 1931 (In millions of dollars) Bills discounted 818 - + 575 Bills bought 214 -• 6l + IS United States securities 752 - 14 + 108 Other reserve bank credit 50 - 11 + 23 TOTAL RESERVE BAM CREDIT 1,334 - 87 + 723 Monetary gold stock 4,457 1 16S - Treasury currency adjusted 1,77S + 3 - 3 Money in circulation 5,619 42 + 970 Member bank reserve balances 1,994 - 42 470 - Unexpended capital funds,nonmember.deposits,etctc.4.4565 6 + 52 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication 'Friday morning, Jan. 15,1932; not earlier. B-642a BESOinCES LIABILITIES 0? THE TTSLVE FEDERAL 3ES.1KV3 EA>TKS COMBINED (in thousands of dollars) JEUJLL.121.2 Jan._6,12.52 Jan,__l4ji]l S O U R C ES Gold with Federal reserve agents . . .. 2,074,369 2,074,541 1,740,589 Gold redemption fund with U. 6. Treasury 5S.31*? 58,493 36,233 Gold held exclusively against E-.H.notes 2,132,711 2,133,039 1,776,877 Gold settlement fund with E. R. Board . 385,583 353,436 447,i4o Gold and gold certificates held by barks 4.33,542 494,077 834,560 Total gold reserves 3,001,336 2,585,552 3,058,577 Reserves other than gold . 136,045 173,635 172,273 Total reserves 3,137,331 3,159,187 3,231,455 Fon-reserve cash 73,415 71,670 84,493 Bills discounted: J /?/ Sec. by U. S. Government obligations 443377,,33^^33 451,937/ 86,750 Other bills discounted 330,993 36M29 156,590 Total bills discounted . . .. 313,341 813,-214 243,340 Bills bought in open market 213,301 275,306V 196,130 U. S. Government securities: 7i Ci Bonds 320,267 330,199 105,419 Treasury notes 30,596 30,549 189,439 Certificates and bills 400,712 405,197 349,459 Total U.S. Government securities 751,575 765,945 644,317 Other securities 29,732 28 , 84-4 4 5/; 5,550 Total bills and securities . . 1,313,449 1,833,311 1,089,387 Due from foreign banks 8,663 8,662 70S 5*. R. notes of other banks . . . . . 18,368 21,72b 26,015 Uncollected items 439,210 475,253 563,311 Bank premises . 57,311 57,770 57,924 All other resources 33,931 33,752 20,403 TOTAL RESOURCES . , 5,537,725 5,716,331 5,078,701 L I A B I L I T I ES E. R. notes in actual circulation 2,635,766 2,651,026 1,352,702 Deposits: Member bank - reserve account , 1,994,347 2,036,072 2,463,596 C-overnment 32,63s 29,893 32,202 Foreign bank 75,129 64,645 5.753 Other deposits 27,996 33,809 19,752 Total deposits 2,130,110 2,169,419 2,521,303 Deferred availability items 427,469 451,516 547,303 Capital paid in 159,836 160,605 169,507 Surplus 259,421 259,421 274,636 All other liabilities . . . _25 J26 24,344 12,445 TOTAL LIABILITIES . . . 5,637,728 5,716,331 5,078,701 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 66.9$ 65.5# 79.3$ Contingent liability on bills purchased for foreign correspondents 285,141 269,544 443,309 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AM) LIABILITIES OP THE FEDERAL RESERVE BAHS 0*7 JANUARY 13, 1932 R E S O U R C ES (in thousands of dollars) B-642b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,074,369157,627 470,239 177,500 212,470 73,170 77,300 509,620 61,455 53,365 6l,6SO 35,180 184,763 Gold redemption fund with U.S.Treasury 53.342 4,692 11,454 7,144 7,442 2,550 3,054 9,596 2,375 899 3,121 1,006 5,009 Gold held exclusively against ?. R. notes 2,132,711 162,319 481,693 134,644 219,912 75.720 80,354 519,216 63,830 54,264 64,801 36,186 189,772 Gold settlement fund with *F.R.Board 385,583 14,9^7 189,652 24,184 43,04? 15,644 10,839 31,051 9,5?g 3,992 11,030 8,975 22 624 Gold and gold certif. held by banks 483,542 19,993 288,913 26,999 23.049 5,502 8,610 51,281 11,901 6.233 12,265 3,593 24^603 Total gold, reserves 3,001,836 197,279 960,258 235,227 286,008 96,866 99,803 602,l4S 85,309 64,489 88,096 48,754 236,999 Reserves other than gold 186,045 17,965 4l,S5S lb,948 13,907 8,237 6,726 32,020 13,12? 6,221 9,270 8,972 10,794 Total_reserves 3,187,881 215,244 1,002,116 252,775 299,915 105,103 106,529 634,168 98,436 70,710 97,366 57,726 247,793 Ton-reserve cash 78,415 8,574 23,003 3,652 3,894 4,296 4,452 10,891 3,796 2,303 2,506 3,339 7,709 Bills discounted: Secured by U.S.Govt, obligations 437,348 25,152 150,307 44,932 75,765 15,333 16,054 56,101 15,6o4 1,525 6,552 3,219 26,689 other bills discounted 330,993 a4,522 40,903 63,662 5^,770 31,l6l 37,443 22,204 8,090 10,31b 26,967 12,712 48,243 Total bills discounted 818,34l 49,674 191,210 103,654 130,535 46,549 53,497 78,305 23,694 11,841 33,519 15,931 74,912 Bills bought in open market 213,801 20,464 67,134 6,955 8,202 10,292 11,753 29,869 13,610 6,664 9,664 3,124 26,020 U. S. Government securities: 3onds 320,267 23,39s 111,467 23,252 26,263 3,717 5,24o 54,196 11,715 15,887 9,185 17,995 17,952 Treasury notes 30,596 1,678 16,934 1,797 2,366 268 390 2,962 806 589 549 561 1,696 Certificates and bills 400,712 31,104 156,000 33,83% 40,470 5,096 1,020 50,431 15,365 11,226 10,474 11,333 28,362 Total U.S.Govt, securities 751,575 56,180 284,401 58^880 69,099 9,081 12,650 107,559 27,886 27,702 20,203 29,889 48,010 Other securities 29.732 2,130 14,713 3,665 700 1,150 3,490 830 734 400 1,870 Total bills and securities 1,813,449 128,448 557,508 178,154 207,836 66,622 79.050 219,253 66,070 46,94l 63,791 48,944 150,832 Due from foreign banks 8,663 693 3,l40 940 875 346 321 1,222 21 13 251 243 598 F. R. notes of other banks 18,368 218 5,905 431 l„l60 1,660 778 1,892 1,432 649 1,695 302 2,246 Uncollected items 439,210 51,213 119,941 37,840 42,941 31,633 11,879 52,084 19,195 8,229 21,331 15,164 27,760 Bank premises 57,811 3,336 14,317 2,626 7,949 3,605 2,489 7,827 3,461 1,834 3,649 1,785 4,433 All Other resources 33,931 1,940 12,54? 1,471 1,966 3,305 3,450 2,093 2,249 1,380 1,007 1,568 955 RESOURCES 5,637,728 409,666 1,738,977 477,889 566,536 216,570 208,943 9 29 , 430 194,660 132,059 191,596 129,071 442,326 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES Ai:• ID LIABILITIES OF THE FEDERAL RESERVE 3 ,^ OH JAFJARY 13, 1932 L I A B I L I T I ES (in thousands of dollars) B-642c Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.,nctes in actual circulation 2,635,766 190,362 572,742 264,45s 321,646 110,400 121,520 Dep.;.- its: 533,761 91,155 68,020 81,757 45,604 234,311 O F G M > o t c ' h ' r r • - e e • . r b i c g e r d n r n e z b b n p a s a o n n n k s t k i t - s reserve account 1,99 2 7 3 7 4 5 2 , , , , 9 1 3 6 9 2 4 3 b 9 7 3 12 5 5 4 , , , 0 5 6 3 4 5 1 6 3 6 2 3 8 3 1 5 5 0 6 6 , , , , 7 4 6 7 6 0 2 2 6 4 2 2 3 6 1 1 5 , , 2 7 8 8 4 2 3 , 6 5 611 3 1 6 1 , , , 4 5 5 7 6 4 6 , 6 2 163 3 2 5 7 , 0 6 5 , 5 7 3 4 6 ,9 0 16 i 3 2 5 s , , 1 t 0 4 , 5 9 5 7 5 4 7 27 8 1 3 , , , 8 6 8 S 9 1 0 7 2 4 7 7 6 2 1 2 , , , 3 8 0 8 2 0 0 0 3 4 5 7 4 l 1 2 , , , 4 5 1 3 6 7 5 6 o 3 8 s 7 1 1 3 , , , 9 5 0 2 4 7 9 4 5 6 0 4 1 9 1 , , , 8 3 5 1 5 3 8 7 8 9 6 5 13 5 4 2 8 , , , , 1 5 1 8 5 7 9 3 2 9 1 4 Total deposits 2,130,110 Deferred availability items 427,469 135,574 909,514 133,629 158,009 57,705 57,642 285,190 66,939 45,559 76,635 52,958 150,756 51,169 113,256 35,921 42,457 30,52s 11,826 Capital paid in 50,527 20,471 7,699 20,147 15,742 27,126 159,836 11,752 60,394 i6,6o4 14,749 5,464 5,139 Surplus 17,990 4,677 2,952 4,176 4,138 11,301 All-, other liabilities 2 2 5 5 9 , , 1 4 2 2 6 1 20,039 75,077 26,486 27,640 11,483 10,449 38,4ii 10,025 6,356 3,124 7,624 17,707 TOTAL LIABILITIES U9. M9.4 791 2,035 qqo 2.172 3,551 1,393 1,473.. 127 -JzpOl — L i ii 5,637,72S 409,666 1,738,977 477,889 566,536 216,570 208,94s 929,430 194,660 Reserve ratio (per cent) 132,059 191,596 129,071 442,326 66.9 66.0 Contingent liability on bills pur- 67.6 63.5 62.5 65.5 59.5 77.4 62.3 61.5 58.6 64.4 chased for foreign correspondents 285,141 21,617 93,436 29,296 28,727 11,377 10,524 33,113 ',955 6,253 8,24s 7,964 19,626 FEDERAL RESERVE FQTE STATE' < j7''T Federal reserve notes: Issued to P.R.bank by F.R.agent 2,931,929 220,424 Held by Federal reserve bank 296,163 30,062 633,814 283,267 340,594 123,203 140,510 600,535 95,646 70,235 94,467 52,224 276,960 61,072 13,809 13,94s 12,803 13,990 66,324 4,491 2,215 12,630 6,620 42,649 In actual circulation 2,635,766 190,362 572,742 2v4,45S 321,646 110,4oo 121,520 533,761 91,155 6s,020 81,787 45,604 234,311 Collateral held by agent as security for notes issued to bank Gold and gold certificates Gold fund - F. R. Board 1,2 8 0 6 6 7 , , 5 7 2 8 0 9 1 4 1 7 0 ,0 ,6 1 1 0 7 4^5,239 54,700 64,470 11,570 12,300 99,620 15,055 9,165 9,580 12,280 86,000 !n2'800 li|G'00P Sl'k°° 64,500 410,000 46,460 44,'200 51)300 22)900 93)763 Eligible paper 952,413 67,573 21W,s47 107,953 135,224 55,397 63,889 103,215 34,273 17,072 41,267 17,423 98,275 Total collateral 3,026,732 225,200 s81,0S6 285,453 347,694 128,567 141,139 612,835 95,733 70,437 102,947 52,603 283,03s MATURITY DISTRIBUTION OF BILLS Al'TD SHOE* TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months M B C B i e u i l l r n l l t s s i , i c f d b i i p i o c s a u c a l g o w t h e u a t s n r a i t r n e n a d d n o b ts p i e l n ls m arket 4 2 3 0 1 1 2 0 3 8 , , , , 7 7 3 3 4 1 0 4 7 2 1 1 6 2 3 3 2 0 4 1 , , , , 2 9 4 6 6 5 1 4 6 0 7 s 4 4 4 0 0 2 , , , 2 3 3 2 6 4 5 1 2 6 4 6 1 9 8 , , , 4 5 0 2 2 4 9 7 3 6 3 5 3 8 4 , , , 3 7 8 4 9 1 4 7 0 6 8 1 m 0 9 , o , 5 2 6 n 1 3 9 t 5 9 h 9 s 129 2 , , 2 2 4 5 9 9 156 204 120 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis