H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE TES PRESS Released for publication B-672 Friday morning, Feb. 12; Federal Reserve Board not earlier. February 11, 1932# COKDITIOF OF FEDERAL RESFRi/E BASTES The daily average volume of Federal reserve bank credit outstanding during the week ending February 10, as reported by the Federal reserve banks, was $1,807,000,000, a decrease of $23,0"-0,000 compared with the preceding week and an increase of $359,000,000 compared with the corresponding week in 1931• On February 10 total reserve bank credit amounted to $1,779* 000,000, a decrease of $31,000,000 for the week. This decrease corresponds with decreases of $32,000,000 in member bank reserve balances, $5,000,000 in money in circulation and $18,000,000 in unexpended capital funds, nonmember deposits, etc, offset in part by decreases of $3,000,000 in monetary gold stock and $22,000,000 in Treasury currency, adjusted. Holdings of discounted bills declined $19,000,000 at the Federal Reserve Bank of Mew York, $8,000,000 at Chicago and $36,000,000 at all Federal reserve banks. The System*s holdings of bills bought in open market increased $13,000,000 and of United States Treasury notes $7*000,000, while holdings of Treasury certificates and bills declined $l4,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending February 10, 1932, were as follows: Increase or decrease since Feb. 10 Feb. 3 Feb. 11 1932 1932 1931 (in millions of dollars) Bills discounted S19 - 36 + 531 Bills bought 169 + 13 + 81 United States securities 741 - 8 + 131 Other reserve bank credit 4g 1 + 39 TOTAL RESERVE BJVRK CREDIT 1,779 - 31 + 250 Monetary gold stock 4,403 - 3 248 - Treasury currency adjusted 1,764 - 22 18 - Money in circulation 5,626 - 5 +1 ,032 Member bank reserve balances 1,905 - 32 460 - Unexpended capital funds,nonmember deposits,etc. 415 - IS + 12 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Feb. 12,1932; not earlier. 3-672 a RESOURCES AH) LIABILITIES OF THE TWELVE FEDERAL RESERVE BAJIKS COMBINED (In thousands of dollars) Feb. 10,1932 Feb. 3,1932 Feb. 11,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,071,979 2,078,779 1,752,459 Gold redemption fund with U.S. Treasury 56,962 56,462 34,467 Gold held exclusively against F.R.notes 2,128,941 2,135,241 1,736,926 Gold settlement fund with F. R. Board 317,192 320,005 470,484 Gold and gold certificates held by banks 521,055 514,936 820,081 Total gold reserves . 2,967,218 2,970,182 3,077,491 Reserves other than gold 196,277 197,321 176,855 Total reserves 3,163,495 3,167,503 3,254,346 Fon-reserve cash . 75,666 74,197 76,649 Bills discounted: Sec. by U.S. Government obligations . , 450,326 476,002 79,368 Other bills discounted 369.109 379,166 142,821 Total bills discounted 819,^35 855,168 "222,189 Bills bought in open market 169,391 156,100 87,739 U. S. Government securities: Bonds 320.110 320,207 80,906 Treasury notes 69,530 63,020 192,121 Certificates and bills 351,794 365.768 336,593 Total U.S. Government securities 741,1+34 748,995 609,620 Other securities 33,451 35,952 Total bills and securities 1,763,711 1,796,215 919,548 Due from foreign banks 8,608 8,611 711 F. R. notes of other banks . . , 12,802 14,600 17,785 Uncollected items 345,551 376,009 444,122 Bank premises 57,821 57,820 58,098 All other resources 39,335 38,436 19,293 TOTAL RESOURCES . . . . 5,466,989 5,533,391 4,790,552 L I A B I L I T I ES F. R. notes in actual circulation 2,661,959 2,664,003 1,481,006 Deposits: Member bank - reserve account . 1,904,914 1,937,231 2,364,686 Government 48,331 31,675 28,913 Foreign bank . . 46,582 61,671 5,306 Other deposits 21,255 23,424 18,445 Total deposits . . . 2,021,082 2,054,001 2,417,350 Deferred availability items . . . 339,168 371,161 435,473 Capital paid in 158,362 158,500 169,296 Surplus 259,421 259,421 274,636 All other liabilities 26,997 26,305 12,791 TOTAL LIABILITIES 5,466,989 5,533,391 4,790,552 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 67.6«* 67.1 $ 83 S Contingent liability on bills purchased for foreign correspondents 319,294 317,681 445,684 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A1TD LIABILITIES OF THE FEDERAL RESERVE BANKS OF FEBRUARY 10, 1932 R E S O U R C ES (in thousands of dollars) B-672b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,071,973 l6S,627 465,239 l6l,200 212,470 76,170 83,300 5U2,620 72,295 53,755 61,080 30,460 l44,7o3 Gold redemption fund with U.S.Treasury 56,962 4,658 11,312 7,074 7,370 2,395 3,254 6,$4l 2,35-5 894 3,113 1,001 6,992 Gold held exclusively against F. R. notes 2,128,941 173,285 476,551 168,274 219,84o 78,565 86,554 549,161 74,653 54,64-9 64,193 31,461 151,755 Gold settlement fund with F.R. Board 317,192 12,361 132,959 21,001 39,119 13,521 6,869 30,720 6,931 7,424 7,564 8,782 29,941 Gold and gold certif. held by banks 521,085 13,8CG 331,885 27,310 23,923 6,017 8,621 51,666 11,6-04 2,04g 12,674 3,527 22,922 Total gold reserves 2,967,218 204,534 941,395 216,585 282,882 98,103 102,044 "31,547 93,188 %121 84,431 43,770 204,618 Reserves other than gold 196,277 18,749 47,740 19,807 15,438 9,817 5,704 29,901 11,985 7,037 8,717 10,042 11,340 Total reserves 3,l'c3,495 223,283 989,135 236,392 298,320 107,920 107,748 661,448 105,173 71,158 93,148 53,812 215,958 ron-reserve cash 75,666 7,591 20,705 5,371 3,54i 4,466 4,474 11,821 3,735 1,949 2,086 3,838 6,089 Bills discounted: Secured by U.S.Govt, obligations 450,326 20,528 126,527 52,463 69,903 7,508 12,163 53,527 13,26l 3,125 7,898 2,886 80,537 other bills discounted 369,109 18,747 44,023 63,194 48,877 27,693 36,73^ 25,003 8,163 10,964 29,006 11,513 45,185 Total bills discounted 819,435 39,275 170,550 115,657 118,780 35,201 48,899 78,535 21,424 14,089 36,904 14,399 125,722 Bills bought in open market 169,391 10,613 64,n6 6,46s 7,535 7,916 8,985 20,691 6,379 4,642 7,553 5,454 19,039 U. S. Government securities: Bonds 320,110 23,323 110,144 23,081 26,051 5,731 5,245 54,036 11,715 15,857 9,035 17,996 1177,,884444 Treasury notes 69,530 5,101 30,017 5,019 6,627 889 1,138 8,264 2,497 1,553 1,699 1,762 4,659 Certificates and bills 351,794 27,544 130,957 30,361 35,894 7,461 6,23s 44,965 13,674 10,031 9,324 10,107 25,238 Total U.S.Govt, securities 4l,4 4 55,968 271,11s 58,463 68,572 14,081 12; 621 107,315 27,886 27,746 20,05s 29,865 47,741 7 3 Other securities 33,451 2,830 18,162 2,901 700 750 3,925 880 553 590 - 2,160 Total bills and securities 1,763,711 108,686 523,946 183,489 194,887 57,898 71,255 210,466 56,569 47,030 65,105 49,71s 194,662 Due from foreign banks 8,60s 694 3,076 941 876 347 321 1,225 21 13 252 243 599 F.R. notes of other banks 12,802 208 3,144 419 885 1,083 916 2,066 1,278 454 707 275 1,367 Uncollected items 345,551 39,3H 94,127 33,948 32,739 26,746 9,907 38,03s 14,955 6,000 17,631 11,883 20,266 Bank premises 57,821 3,336 14,817 2,626 7,959 3,605 2,489 7,827 3,461 1,834 3,649 1,785 4,433 All other resources 39,335 1,248 14,329 1,390 2,136 4,683 4,130 4,010 2,092 1,436 1,088 1,543 1,250 TOTAL BESOURCES 5,466,989 384,357 1,663,279 464,576 541,343 206,74s 201,240 936,901 187,284 129,874 183,666 123,097 444,624 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

EESOURCES MB LIABILITIES OF THE FEDERAL EE SERVE BAMS OF FEBRUARY 10, 1932 L I A B I L I T I ES (In thousands of dollars) B-672c Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn . Kans.Cy. Dallas Sail Fran, F.E.notes in actual circulation 2,661,959 184,845 575,264 264,828 314,205 105,454 120,591 569,490 92,320 68,808 82,306 41,908 241,940 Deposits: Member bank - reserve account 1,904,914 119,016 811,301 117,883 138,880 51,364 4%,82$ 258,315 58,:426 41,517 68,080 50,505 141,799 Government 48,331 5,009 17,582 2,845 3,647 4,197 3,039 3,989 2,123 1,778 l,84o 2,003 279 Foreign "bank 46,582 3,547 15,125 4,807 4,714 1,867 1,727 6,254 1,634 1,027 1,353 1,307 3,220 Other deposits 21,255 128 8,671 399 3,17^ 203 182 711 651 jm. 216. 180 6,301 Total deposits 2,021,082 127,700 852,679 125,934 150,415 57,631 52,776 269,269 62,834 44,661 71,589 53,995 151,599 Deferred availability items 339,168 39,227 ?1,550 29,845 32,239 25,760 9,951 38,095 16,253 5,639 16,730 12,804 20,675 Capital paid in 158,362 11,685 60,412 16,397 14,665 5,406 5,007 17,882 4,531 2,949 4,155 4,050 11,223 Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 38,411 10,02R ill 8,124 7,624 17,707 All other liabilities 26,997 §61 7,897 1.086 2.179 1.014 2.466 1.7^4 1.121 762. 2.716 1.480 TOTAL LIABILITIES 5,466,989 384,357 1,663,279 464,576 541,343 206,743 201,2U0 936,901 187,284 129,874 133,666 123,097 444,624 Reserve ratio (per cent) 67.6 71.4 69.3 60.5 64.2 66.2 62.2 78.9 67.8 62.7 60.5 56.1 54.9 Contingent liability on bills purchased for foreign correspondents 319,294 23,867 107,634 32,346 31,713 12,561 11,619 42,081 10,991 6,909 9,107 8,793 21,668 FEDERAL RESERVE ITOTE STATEMENT Federal reserve notes: Issued to F.E.bank by F.E.agent 2,924,538 211,209 626,076 277,429 331,843 115,347 138,796 632,533 97,111 70,575 93,895 48,637 281,137 Held by Federal reserve bank 262,629 26,354 50,312 12,601 17,63s 9,893 18,205 63,043 4,791 1,767 11,589 6,729 39,197 In actual circulation 2,66] 184,845 575,264 264,823 314,205 105,454 120,591 569,490 92,320 68,808 82,306 41,908 241,940 Collateral held by agent as security for notes issued to bank Gold and gold certificates 817,799 47,01c 390,23s 55,900 64,470 11,570 12,800 99,620 15,495 13,155 9,230 12,260 86,000 Gold fund - F. E. Board 1,254,130 121,617 75,000 105,300 148,000 64,600 70,500 443,000 56,800 4o,6oo 51,800 18,200 58,763 Eligible paper 948,329 47,324 223,373 118,635 122,919 41,675 56,302 94,201 24,844 16,959 42,434 18,451 141,682 Total collateral 3,020,808 215,951 683,612 279,835 335,389 117,845 139,602 636,821 97,139 70,744 103,514 43,911 286,445 MATURITY DISTRIBUTION OF BILLS A1TD SHOET TEEM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted bil 819,435 628,139 48,995 74,971 47,503 16,583 3,244 Bills bought in open market 169,391 60,296 34,527 39,416 34,717 435 Certificates and bills 351,794 37,591 26,338 66,33s 4,800 84,472 132,255 Municipal warrants 3,771 3,375 167 208 1 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis