H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-656 Friday morning, Jan. 29; Federal Reserve Board no t earl i er. January 28, 1932. CONDITION OF FEDERAL RESERVE BAKKS Tne daily average volume of Federal reserve bank credit outstanding" during? the r-eek ending January 27, &s reported "by the Federal reserve "banks, was $1,813,000,000, a decline of $25,000,000 compared with the preceding week and an increase of $822,000,000 compared with the corresponding weak in 1931- On January 27, total reserve bank credit amounted to $J,798,000,000, a decline of $9,000,000 for the week. This decrease corresponds with decreases of $24,000,000 in money in circulation and $27,000,000 in member bank reserve balances, offset in part by decreases of $24,000,000 in monetary ~old stock and $9,000,000 in Treasury currency, adjusted, and an increase of $7,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $13,000,000 at the Federal Reserve Bank of Philadelphia, $8,000,000 at San Francisco, $7,000,000 at New York and $19,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $26,000,000 and of Treasury certificates and bills $18,000,000, while holdings of United States Treasury notes increased $17,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending January 27, 1932 were as follows: Increase or decrease since Jan. 27 Jan. 20 Jan. 28 1932 1932 1931 (In millions of dollars) Bills discounted 838 + 19 + 623 Bills bought lo2 _ 26 + 42 United States securities 752 4- 1 + 142 Other reserve bank credit 46 2 + 36 - TOTAL RESERVE BAM CREDIT 1,798 9 + 842 Monetary gold stock 4,426 24 _ 211 Treasury currency adjusted 1,776 9 5 - - Money in circulation 5,589 24 +1, 045 Member bank reserve balances 1,945 - 27 — 480 Unexpended capital funds,nonnenibor deposits, etc.465 + 7 + 60 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Jan. 25,1932; not earlier. E-656a R1S07RC3S JPD LIABILITIES OF TIES TWELVE FEDERAL BAHS C0M3IFED (In thousands of dollars) Jan. 27,1932 Jan. 20,1932 Jan. 23,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,063,879 2,056,23!+ 1,784,009 uold redemption fund with U.S.Treasury . 59,493 59,491 35,284 Cpld held exclusively against F.R.notes 2,123,372 2,115,727 1,819,293 Gold settlement fund with F. R. Board . 333,756 363,UlO 418,335 Gold and gold certificates held by banks 529,858 52b,777 854,086 T^O_ old_jN serves. ^9S6~3S6 3^0^914 i £ 1 3,091,714 Reserves other t.\m gold 19o,520 189,717 186,718 22M..J^serves 3035^506 3,195.631 3,278,432 Non-reserve cash 77,315 76,357 86,539 Bills discounted: Sec. by U.S. Government obligations . 451,664 ^38,5^5 68,206 Other bills discounted 385,975 330]44l 146,931 Total bills discounted . . . 837,639 818,986 215,137 Bills bought in open market lo2,26l 188,04l 120,241 U. S • G-overnment secur i tie s: 3onds 320,383 320,213 82,980 Treasury notes 51,070 33,557 190,135 Certificates and bills 380,263 397,698 336,762 Zpt.'.l "I,S, Government securities 751,716 751,468 609,877 Other securities . . 36,296 36,846 150 Total bills and securities . . 1,787,912 1,795,341 945,405 Due from foreign banks . . . . . . . .. S,SOS 3,597 702 F.R. notes of other banks 15*74s 19,137 22,300 Uncollected items 351,251 431,387 445,328 A11 i- TDP ©j(3 7}11 S 6 S • # # • r- -7 ' '-i r> fT"7 I, - 7j l3 58,034 Ail otner resources 17,1-1 36,3/1 18,642 TOTAL E3S0UBCES 5,523,510 5,620,664 4,855,382 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,627,296 2,642,140 1,478,302 Deposits: Member bank - reserve account . . .. 1,945 217 1 971 564 2,424,oo6 Government ' 38,*555 ' 26,'l46 14,6?Q Foreign bank 7",<'17 81,830 b,357 Other deposits 35>JS3 26,385 13,533 Total deposits 2,099,492 2,105,925 2,484,475 Deferred availability items 352,001 428,587 435,579 Capital paid in icci ikq Urq 169,531 s - p l- 259:421 259:421 274,636 All other liabilities 26,067 25,0)2 12,559 TOTAL LIABILITIES 5,523,510 5,620,664 4,855,382 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 67.4$ 67.3^ 82.7/0 Contingent liability on bills purchased lor foreign correspondents 304,777 285,299 442,435 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AIID LIABILITIES OF THE FEDERAL RESERVE BAKES OIT JAFUARY 27, 1932 R E S O U R C ES (In thousands of dollars) B-65&b Total Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans,Cy. Dallas San Fran. Gold with Federal reserve agents 2,063,879 160,62? 4/0,239 1&5.000 212,4/0 73,170 80,100 529,620 66,995 54,555 61,680 34,660 154,763 Gold redemption fund with U.S.Treasury 59,493 4,692 11,453 7,145 7,4l5 2,549 3,278 9.572 2,367 897 3,118 1.003 6,004 Gold held exclusively against F. R. notes 2,123,372 165,319 481,692 172,145 219,885 75.719 83,378 539,192 69,362 55,452 64,798 35,663 160,767 Gold settlement fund with F. R. Board 333,756 6,027 162,961 9,992 42,037 20,234 5,763 26,438 5,487 8,984 11,409 8,275 26,149 Gold and gold certif. held by banks 529,858 20,269 337,014 28,181 23,608 5,820 8,835 53.153 12,032 1,848 11.985 3,627 23,486 Total gold reserves 2,986,986 191,615 981,667 210,318 285,530 101,773 97,976 618,783 86,881 66,284 88,192 47,565 210,402 Reserves other than gold 198,520 19.497 45,270 19.174 15,297 9,473 6,505 33.441 13.110 6,694 9,132 9,228 11,699 Total reserves 3,185,506 211,112 1,026,937 229,492 300,827 111,246 104,481 652,224 99.991 72,978 97,324 56,793 222,101 Hon-reserve cash 77.315 9,113 21,275 3.697 4,214 4,612 4,765 11,736 3.797 1,881 2,001 3,672 6,552 Bills discounted: Secured by U.S.Govt, obligations 451,664 23,494 131,539 59,446 71,769 9,785 13,728 58,690 14,819 1,580 66,,111111 33,,440066 57,297 Other bills discounted 385,975 20,404 43,664 67,818 51,287 29,809 37,613 25.014 9,664 10,095 27,393 11,861 51,353 Total bills discounted 837.639 43,89s 175,203 127,264 123,056 39,594 51,341 83.704 24,483 11,675 33,504 15,267 108,650 Bills bought in open market 162,261 15.249 52,308 6.563 7,805 7,259 9,201 20,641 9,003 4,884 6,435 2.996 19,917 U. S. Government securities: Bonds 320,383 23,416 111,467 23.252 26,263 3,717 5,282 54,196 11,715 15.942 9,185 1177..999966 17,952 Treasury notes 51,070 3.292 25,208 3,318 4,378 532 731 5,465 1,603 1,244 1,091 1,114 3,094 Certificates and bills 380.263 29,490 147.726 32.310 38.458 4.832 6.64-2 47.928 14.568 10.659 9.932 10.754 26,964 Total U.S.Govt, securities 751.716 56.198 284,401 58,880 69,099 9,081 12,655 107.589 27.886 27.845 20,208 29,864 48,010 Other securities 36.296 3.150 19.637 3,060 — 700 850 4.305 880 554 750 — 2,410 Total bills and securities 1,787.912 118,495 531.549 195.767 199.960 56,634 74,047 216.239 62,252 44,958 60.897 48,127 178,987 Due from foreign banks 8,608 694 3.076 941 876 347 321 1.225 21 13 252 243 599 F. R. notes of other banks 15,748 236 4,652 435 720 1,102 1.050 2,055 1,272 332 1.326 311 2.257 Uncollected items 353,251 41,335 100,482 31,838 32,897 27,624 9,907 38,752 14,736 6,284 17,815 11.597 19,984 Bank premises 57,819 3,336 14,817 2,626 7.957 3,605 2,489 7,827 3,461 1.834 3,649 1,785 4,433 All other resources 37,351 1,27s 13,885 1,510 2,072 4,o64 4,171 2,974 2,208 l,44l l,l4s 1,557 1,043 TOTAL RESOURCES 5,523,510 385,599 1,716,673 466,306 549,523 209,234 201,231 933,032 187,738 129.721 184,412 124,085 435,956 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAKKS OK JANUARY 2J, 1932 L I A B I L I T I ES (In thousands of dollars) Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,627,296 185,225 562,660 260,929 315,981 106,412 120,164 557,530 92,06067 ,579 81,395 Deposits: 43,542 233,769 Member tank - reserve account 1,945,217 118,505 F G o o r v e e i r g n n m b e a n n t k 3 7 8 9 . , 5 93 5 7 5 5 2 , , 0 5 4 0 3 5 84 9 4 ,0 ,8 8 1 4 3 2 1 ,6 2 7 1,0 0 7 1 3,2 1 2 42 2 ,787 2 5 , 2 6 , 7 40 2 7 1 ,6 4 0 8, 3 957 6 , 2 6 6 1 0 6 ,24 3 2 , 5 0 8 4 ,3 4 5 94 1 1 , , 7 5 5 49 8 6 1 8 , , 9 7 5 4 0 1 4 2 8 , , 0 7 3 7 5 7 13 2 9 , , 3 0 9 0 6 8 Other deposits 35,783 226 2 35 3 , , 2 7 1 8 2 1 6 56 ,83 5 5 3,4 0 6 3 ,702 3 2 8 ,6 4 54 2 2 4 ,4 l 55 1 8 ,0 ,8 2 9 2 2 6 2 7 ,3 2 2 3 1,4 3 6 8 0 1 1,92 8 4 9 1,8 2 5 01 8 4 4 , , 8 5 1 7 8 9 Total deposits 2,099,4921 26,279 912,8901 31,141 156,114 58,117 53,256 276,773 63,39s 45,148 72,704 52,8711 50,801 Deferred availability items 352,001 41,560 98,006 30,346 Capital paid in 159,233 11,676 60,892 l6,4li 32,986 26,765 9,862 38,343 16,293 6,265 17,271 12,670 21,134 Surplus 259,4212 0,039 75,077 2O,4S6 14,690 5,46o 5,071 17,952 4,554 2,953 4,170 4,125 11,279 All other liabilities 26,067 820 7,148 993 2 2 7 , ,6 1 4 12 0 9 1 9 1 7 ,483 2 1 , 0 4 ,4 2 4 9 9 3 3 ,4 3 73 ,411 1 , 1 4 0 0 ,0 8 25 1 , 6 4 ,3 20 5 6 8,1 7 2 4 4 8 3 7 , , 2 6 5 2 3 4 1. 1 2 7 6 , 6 7 07 TOTAL LIABILITIES 5,523,510 385,599 1,716,673 466,306 549,523 209,234 201,231 933,032 187,738 129,7211 34,412 124,085 435,956 R C e o s n e t r i v n e g e ra nt t i l o ia b (p i e l r ity ce o n n t) bills pur- 67.4 67.8 69.6 58.5 63.7 67.6 60.2 78.2 64.3 64.7 63.2 58.9 57.8 chased for foreign correspondents 304,777 22,883 101,797 31,019 30,417 12,046 11,143 40,355 10,541 6,625 8,734 8,432 20,780 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent 2,901,167 215,141 612,132 279,351 334,654 116,997 138,68 7620,255 Held by Federal reserve bank 273,871 29,916 49,472 13,422 18.673 10,585 13,523 62,675 96,666 69,065 93,349 50,967 273,903 _4,6o6 1,436 11,954 7,425 4o.n4 In actual circulation 2,627,296 185,225 562,660 260,929 315,981 106,4i2 120,164 557,580 92,060 67,579 81,395 43,542 233,769 Collateral held by agent as security for notes issued to bank Gold and gold certificates 821,999 47,010 395,239 54,700 64,470 11,570 12,800 99,620 15,295 13,155 9,880 12,260 86,000 Gold fund - F. R. Board 1,241,880 113,617 75,000 110,300 143,000 ,6 1,600 67,300 430,0005 1,700 41,400 51,800 22,400 68,763 Eligible paper 954,716 56,582 216,215 125,355 127,434 45,338 59,101 99,379 29,693 15,123 37,997 16,770 125,724 Total collateral 3,013,595 217,209 686,454 290,355 339,904 lis,508 139,201 628,999 96,688 69,653 99,677 51,430 230,487 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months Bills discounted 5=37,639 9+0/06 45.U72 73.£35 4s,664 Bills bought in open market 162,261 53,133 is,536 -.2,676} 24,324 50,766 33,570 468 M Ce u r n t i i c f i i p c al a w te a s r a ra nd nts b ills 380,263 44,225 37,591 82,634 8,050 73,000 134,763 3,476 3,082 103 211 so Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis