H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TI-IE PRESS Released for publication B-dUS Friday morning, Jan. 22; Federal Reserve Board not earlier. January 21, 1932. CONDITION OF FFIFRAL RESERVE 3AMIS The daily average volume of Federal reserve tank credit outstanding during tne week ending January 20, as reported by t?ie federal reserve banks, was 81,^38,000,000, a decline of $49,000,000 comoared with the preceding week and an increase of $774,030,000 compared withthe corresponding week in 1931. On^January 20 total reserve bank credit amounted to $1,807,000,000, a decline of *2 ,.00,0*) for the week. This' decrease corresponds with decreases of 7 o2c,000,000 in member bank reserve balances and $5,000,000 in money in circulation and an increase of *7,000,030 in Treasury currency, adjusted, offset in part by a decrease of $7,000,000 in the monetary gold stock and an increase of $2,000,000 in unexpended capital funds. Holdings of discounted bills increased *26,000,000 at the Federal Reserve Ban3; of San Francisco and $5,000,000 each at Philadelphia and Chicago, and declined $23,000,000- at Few York, *7,000,000 at Boston.and *5,000,000 at Cleveland, combined holdings of all Federal reserve banks being substantially unchanged. The System's holdings of bills bought in open market declined $26,000,000 and of Treasury certificates and bills *3,000,000, while holdings of United States Treasury notes increased $3,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and tne year ending January 20, 1932, were as follows: Increase or decrease since Jan. 20 Jan. 13 Jan. 21 1932 1932 1931 |In millions of dollars) Bills discounted S19 + 1 + 589 Bills bought 183 - 26 + 36 United States securities 751 1 + 126 - Other reserve bank credit US 2 + 34 - TOTAL RESERVE 3AM CREDIT 1,007 27 + 787 Monetary gold stock 4,450 - 7 ~ 181 Treasury currency adjusted 1,725 + 7 2 - Money in circulation 5/13 6 +1 ,020 Member bank reserve balances 1,972 22 469 - cLei30sits,etc: ^53 + 2 + 54 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Jan. 22,1932; not earlier. B-643a RESOURCES AKD LIABILITIES 0? THE TWELVE FEDERAL RESERVE BAFKS COMBINED (in thousands of dollars) Jan. 20,1932 Jan. 13,1932 Jan.21,1931 R E S O U R C ES Gold with "federal reserve agents 2,056,234 2,074,369 1,763,219 Gold redemption fund with U.S. Treasury . 59,493 58,342 35,668 Gold held exclusively against E.R.notes. 2,115,727 2,132,711 1,798,887 Gold settlement fund with F. R. Board , . 363,4io 385,583 421,588 Gold and gold certificates held by banks . 526,777 483,542 853,673 Total gold reserves 3,005,914 3,001,836 3,074,14s Reserves other than gold 129,717 186,045 180,136 Total reserves 3,195,631 3,187,881 3,254,284 Non-reserve cash 76,327 78,415 85,071 Bills discounted: Sec. by U. S. Government obligations . . 438,545 437,348 79,612 Other bills discounted 130,441 380,993 150,273 Total bills discounted 818,985 818,341 229,885 Bills bought in open market llSS33„„0044ll 213,801 151,625 U. S. Government securities: Bonds 320,213 320,267 96,632 Treasury notes 33,557 30,596 181,452 Certificates and bills . . 397,698 400,712 346,507 Total U.S. Government securities . . 751,468 751,575 624,591 Other securities 36,846 29,732 650 Total bills and securities 1,795,341 1,813,449 1,006,751 Due from foreign banks 8,597 8,663 712 F. R. notes of other bancs 19,137 18,368 26,194 Uncollected items 431,387 439,210 507,312 Bank premises . 57,813 57,811 58,034 All other resources . . . .. 36,371 33,931 19,032 TOTAL RESOURCES 5,620,664 5,637,728 4,957,390 L I A B I L I T I ES F.R. notes in actual circulation 22,,664422,,114400 2,635,766 11,,551177,,884433 Deposits: Member bank - reserve account . . . .. 1,971,564 1,994,347 2,440,730 Government 26,146 32,638 22,650 Foreign bank . - 81,830 75,129 6,o4o Other deposits 26,385 27,996 18,734 Total deposits 2,105,925 2,130,110 2,488,154 $ Deferred availability items . , 428,687 427,469 494,734 Capital t)aid in 159,459 159,836 169,712 Surolus 259,421 259,421 274,636 All other liabilities 25,032 25,126 12,311 TOTAL LIABILITIES 5,620,664 5,637,728 4,957,390 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 67.3$ 66.9 $ 81.2$ Contingent liability on bills purchased for foreign correspondents 285,299 285,141 443,667 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF THE FEDERAL RESERVE BAMS OK JANUARY 20, 1932 R E S O U R C ES (in thousands of dollars) B-648b Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,056,234 162,627 460,239 177,500 212,470 73,170 79,300 519,620 63,020 54,165 6l,6gO 34,680 157,7^3 Gold redemption fund with U.S.Treasury 59.493 4,692 11,453 7,l45 7,415 2,549 3,278 9,572 2,367 897 3,118 1,003 6,004 Gold held exclusively against F. R» notes 2,115,727 167,319 471,692 184,645 219,885 75.719 82,578 529,192 65,387 55.062 64,798 35,683 163,767 Gold settlement fund with F.R.Board 363,410 14,096 184,376 11,271 40,212 18,012 9,158 33,522 7,992 10,136 9,040 12,606 12,989 Gold and gold certif. held by banks 526,777 20,836 327,387 27,944 23,396 5,721 8,671 53,321 11,653 1,749 12,060 3,540 30,499 Total gold reserves 3,005,914 202,251 983,455 223,860 283,493 99,452 100,407 616,035 85,032 66,947 85,898 51,829 207,255 Reserves other than gold 189,717 18,271 42,967 18,624 14,216 8,660 6,314 32,396 12,712 6,670 8,986 8,748 11,153 Total reserves 3,195,631 220,522 1,026,422 242,484 297,709 108,112 106,721 648,431 97,744 73,617 94,884 60,577 218,408 ^on-reserve cash 76,387 8,868 22,907 33,,669955 44,,119988 4,218 4,116 11,128 33,,221155 11,,996644 2,228 3,121 6,729 Bills discounted: Secured "by U.S.Govt, obligations 438,545 21,919 124,034 49,050 72,729 11,009 16,073 60,142 16,663 1,697 7,916 3,872 53,441 Other "bills discounted 380,441 21,150 43,522 65,235 53,294 31,652 36,230 22,808 9,906 9,981 25,999 12,847 47,817 Total bills discounted 818,986 43,069 167,556 114,235 126,023 42,661 52,303 82,950 26,569 11,678 33,915 16,719 101,25s Bills bought in open market 188,04l 17,448 56,703 6,329 8,120 7,966 10,931 25,386 12,086 55,,228888 8,850 2,904 25,430 U. S. Government securities: Bonds 320,213 23,393 111,467 23,252 26,263 3,717 5,225 54,196 11,715 15,847 9,185 17,996 17,952 Treasury notes 33,557 1,972 17,720 2,073 2,732 316 433 3,417 951 705 647 64i 1,950 Certificates and bills 397,698 30,810 155,214 33,555 40,104 5,048 6,939 49,976 15.220 11,120 10.376 11.228 28.108 Total U.S.Govt, securities 751,468 56,180 284,401 58,880 69,099 9,081 12,597 107,589 27,886 27,672 20,208 29,865 48,010 Other securities 36,846 3,460 19,336 3,185 - 700 850 4,500 880 555 840 - 2,540 Total bills and securities 1,795,341 120,157 527,996 183,279 203,242 60,408 76,681 220,425 67.421 45,193 63,813 49*488 177,238 Due from foreign banks 5,597 693 3,074 940 875 346 321 1,222 21 13 251 243 598 *F. R. notes of other banks 19,137 228 6,493 4l4 1,076 2,004 778 1,635 1,608 371 1,399 281 2,850 Uncollected items 431,387 47.332 129,202 36,786 40,907 33,449 11,328 49,569 16,521 6,827 20,96s 14,427 23.971 Bank premises 57,813 3,336 14,817 2,626 7.951 3,605 2,489 7,827 3.461 1,834 3,649 1,785 4.433 All other resources 36,371 1*294 13,342 1,588 1,938 4,220 3,650 2,906 2,314 1,361 1,200 1,559 999 TOTAL RESOURCES 5,620,664 402,430 1,744,253 471,812 557,896 216,362 206,084 943,243 192,305 131,180 188,392 131,481 435,226 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AM) LIABILITIES 0? IC". J.sl-ERAL RESERVE JdAJHS 02! JANUARY 20, 19^2 L I A B I L I T I ES (In thou; ••a:.d3 of dollars) B-648c Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, P.H.notes in actual circulation 2,642,140 188,504 572,493 262,090 317,700 109,730 121,681 549,060 92,853 67,952 81,615 45,266 233,196 Deposits: M Go em ve b r e n r m "b e a n n t k - reserve account 1,57 2 1 6 , , 5 1 6 4 4 6 2 12 ,2 5 3 ,6 4 55 85 3 2 , , 1 2 2 7 8 6 1 1 , 2 7 2 4 , 6 7 57 14 2 3 , , 0 3 6 4 7 7 1 5 , 1 1 , 7 1 6 8 2 1,31 5 7 0 5 ,4 ,1 3 6 0 9 272,130 6 1 0 , , 3 1 1 3 0 5 42 1 , , 1 5 1 3 6 7 6 1 9 , , 9 7 6 2 9 0 4 3 8 , , 1 0 3 0 7 3 13 1 3 , , 3 3 5 1 6 3 F O o th re er i g d n e b p a o n s k i ts 8 26 1 , , 3 8 8 30 5 5,0 1 43 ,2 14 3 1 7 0 , , 1 6 0 s4 5 3 6 8 ,8 3 3 5 3 6 j , 4 7 6 02 2 2 2 , 7 6 1 54 2 2 , 0 4 3 5 5 965 8,892 2,123 660 l,4 3 6 6 o 5 1,92 6 4 3 1,8 2 5 1 8 3 4 7 , , 5 8 7 9 9 2 Total deposits 2,105,^25 134,145 903,193 131,726 156,07s 55,233 54,405 287,156 64,423 45,473 73,676 53,216 147,140 Deferred availability items 428,687 47,303 125,631 34,215 39,659 33,384 12,093 47,092 18,967 6,933 20,102 18,543 24,715 Capital paid in 159,459 11,676 An q 13 16,339 14,740 5,462 5,071 17,971 4,674 2,954 4,171 4,137 n,30l Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 25,032 762 6,946 906 2,079 1,020 2,335 3,553 1,358 1,457 704 2,695 1,167 TOTAL LIABILITIES 5,620,664 402,430 1,744,253 471,81? P R 57,896 216,362 206,084 943,243 192,305 131,180 188,392 131,481 435,226 Reserve ratio (per cent) 67.3 68.368.3 69.6 61.6 62.8 65.5 60.6 77.5 62.1 64.9 61.1 61.5 57.4 Contingent liability on bills purchased for foreign correspondents 225,299 21,617 93,595 29,296 23,727 11,377 10,524 38,113 9,955 6,257 8,24s 7,964 19,626 FEDERAL RESERVE FOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent 2.919,973 216,486 625,877 281,159 337,392 121,324 140,082 612,111 93,120 69,479 93,516 51,315 273,085 Held by Federal reserve bank r-7\—77 —t, r8-i3—t rl w ^ ,',932 1 2 7 7 „ z- » . * 1^ 9,079 19,692 11,594 18,401 63,073 ^ ' 5,257 1,527 11, 6,049 39,889 In actual circulation 2,642,140 133,504 572,493 262,090 317,700 109,730 121,631 549,060 92,853 67,952 31,615 45,266 233,196 Collateral held by agent as security for notes issued to bank Gold and gold certificates 329,854 47,010 410,239 54,700 64,470 11,570 12,800 99,620 15,120 13,165 9,380 12,280 79,000 Gold fund - F. R. Board 1,226,380 115,617 50,00? 122,800 148,000 61,6 r 00 66,500 420,000 47,900 41,000 51,300 22,400 73,763 Eligible paper 962,015 57,952 212,963 112,738 130,749 49,123 61,802 103,407 35,378 15,526 40,871 17,670 123,901 Total collateral 3,018,319 220,579 673,207 290,23s 343,219 122,293 141,102 623,027 98,398 69,691 102,551 52,350 281^64 MATURITY DISTRIBUTION OF BILLS A3-ID SHOR TERM SECURITIES To tal - thin 15 days 16 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months Bills discounted 518,986 632,334 44,002 72,553 48,751 18,368 2,508 Bills bought in onen market 135,04l 79,626 24,205 50,946 32,697 567 Certificate-:- and bills 397,693 28,450 54,836 103,613 8,050 87,684 115,065 Municipal warrants 2,936 2,542 100 212 82 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis