H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT TOR TEE PRESS Released for publication B-69O Friday morning, Feb. 26; Federal Reserve Board, not earlier. February 25, 1932. C01TDITI0F OF FEDERAL RESERVE BANKS The dai-y average volume of Federal reserve bank credit outstanding during *n!^"g Febr'lar-y 24, as reported by the Federal reserve banks, was ? >1(0,000,000, a decrease of $20,000,000 compared with the preceding week and an increase of 8o2,000,000 compared with the corresponding week in 1931, v On February 24 total reserve bank credit amounted to $1,734,000,000, a de- *^annn°nnn 300,000 f or the week. This decrease corresponds with decreases of r S ' n oo 1 bank reserve balances, $17,000,000 in money in circulation and *34,000,000 in unexpended capital funds, nonmember deposits, etc., offset in part by decreases of $19,000,000 in monetary gold stock and $12,000,000 in Treasury currency adjusted. J - Holdings of discounted bills decreased $9,000,000 at the Federal Reserve Bank >T of New York, $4 000,000 at Chicago and $11,000,000 at all Federal reserve banks. The System s holdings of bills bought in open market declined $13,000,000, of United States bonds $1,000,000 and of Treasury notes $3,000,000,' while holdings of Treasury certificates and bills increased $2,000,000. ^ Changes in the amount of reserve bank credit outstanding and in related items I932, during the week and the year ending February 24, were as follows: Increase or decrease since Feb. 24 Feb. 17 Feb. '25 1932 1932 1931 (In millions of dollars) Bills discounted 835 - 11 + 645 Bills bought + 27 133 - 13 United States securities 74l - + 142 Other reserve bank credit 25 - 22 + 17 TOTAL RESERVE BAM CREDIT + S30 1,734 - 47 Monetary gold stock 4,350 - 19 - 313 Treasury currency adjusted 1,720 - 12 4 Money in circulation +1,023 5,592 - 17 Member bank reserve balances 1,373 - 26 - 500 Unexpended capital funds,nonmember dep sits,etc. 395 - 34 8 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Feb. 26,1932; not earlier. B-b90a H3S0TJBCSS ATD LIABILITIES OF THE TTSLTrE FEDERAL RESERVE 3A-TES COIEI^ED (in thousands of dollars) Feb. 24,1932 Feb. 17,1932 Feb. 25,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,037,032 2,053,930 1,724,039 Gold redemption fund with U.S. Treasury 55,745 56,494 3U.lj.S7 Gold held exclusively against F.R.notes 2,092,777 2,110,424 1,758,556 Gold settlement fund with F. R. Board 2?5,549 270,737 472,060 Gold and gold certificates held by banks 559,222 562,375 350,706 Total gold reserves 2,937,54s 2,943,586 3,081,322 Reserves other than gold . 202,214 201,95s 179,194 Total reserves 3,139,762 3,145,544 3,260,516 ^on-reserve cash , 77,067 75,546 76,037 Bills discounted: Sec. by U. S. Government obligations 471,180 473,165 60,473 Other bills discounted 364,063 372,616 129,374 Total bills discounted 235,243 845,781 189,847 Bills bought in open market 133,332 146,382 106,317 U. S. Government securities: Bonds . . . .. 319,241 319,97s 75,731 Treasury notes 73,497 75,504 183,074 Certificates and bills 347,818 345,860 340,638 Total U.Si Government securities . 740,556 741,342 . 599,443 Other securities 14,681 29,995 Total bills and securities . . 1,723,862 1,763,500 895,607 Due from foreign banks 3,595 8,595 699 F. R. notes of other banks 15,215 13,810 15,750 Uncollected items 398,132 421,531 522,264 Baric premises 57,321 57,820 55,192 All other resources 39,733 39,917 19,085 TOTAL RESOURCES 5,455,926 5,527,754 4,848,150 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,642,327 2,656,941 1,443,416 Deposits: Member bank - reserve account . . .. 1,577,793 1,904,246 2,375,411 Government 4°,302 27,214 25,847 Foreign bank 16,399 33,848 ",200 Other deposits 30,002 42,813 lb,111 Total deposits 1,973,496 2,013,121 2,427,569 Deferred availability items 396,426 412,877 "15,070 Capital paid in 157,257 157,915 165,135 Surplus 259,421 259,421 274,636 All other liabilities 28,899 27,509 13,324 TOTAL LIABILITIES . . . 5,458,9:5 5,527,7-4 4,848,150 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 68.Od, 67.44 84.11 Contingent liability on bills purchased for foreign correspondents 313,281 315,348 453,314 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OF FEBRUARY 24, 1932 R E S O U R C ES (In thousands of dollars) B-690b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents , 2,037,032 164,52? 438,21? l62,?00 212,4?0 ?6,1?0 83,775 5^5,320 71,295 5M55 56,080 28,960 1^2,763 6,506 Gold redemption fund with U.S.Treasury 55,745 4,628 11,192 7,012 6,332 2,259 3,234 2,3j?l 88^ ^lCQ 22° LLS22 & F. R. notes ^ ^ 2,092,777 169,255 449,409 169,712 218,802 78,429 87,009 551,826 74,246 54,944 59,189 29,958 149,998 6,858 Gold settlement fund with F.R.Board 285,549 9,952 l4?,6?? 10,356 29,84l 9,237 6,999 28,209 5,^9 11.773 9,858 9,100 Gold and gold, certif. held by banks 559,222 19.418 354.330 26,64? 24,086 6,335 8.981 54,226 11,858 2J29—12,633 3,4?1 34,908 198,625 206,715 272,729 102,989 634,261 92,962 62,962 Total gold reserves 2,937,548 951,4l6 9^,001 83,595 *3,287 19^.006 Reserves other than gold 202,214 19,300 52,24l 22,091 15,097 10,924 5,126 28,086 11,986 7,0*4 7,389 9,87o 12,5.2 Total reserves 3,139,762 217,925 1,003,65? 228,806 287,826 104,925 108,115 662,347 104,948 ?0,oo6 9i,4s4 53,165 206,558 lB Ton-reserve cash 75,546 li3atlons 7,368 19,798 5,02? 3,672 4,4 l 4,466 12,011 3,780 1,937 2,128 3,665 7,243 5 1!HtS?S^;ef xj : tS ^ 168,980 121,217 21,603 137,806 Total bills discounted 835,243 39,599 122,808 3M31 47,905 71,549 14,636 39,361 15,148 6,567 Bills bought in onen market 133,382 8,609 36,746 7,494 7,172 7,875 20,©79 5,809 3,7°9 7,190 4,500 lb,952 n :ts m as :s ® m m is si Total U.S. Govt, securities 740,556 55,968 273,618 58,463 68,572 l4,0S0 12,636 107,315 2?,886 27,656 19,258 27,363 *7,741 1,085 6,358 1,911 - 525 600 2,400 580 Other securities 14,681 422 SOO 1,723,862 69,016 65,809 Total bills and securities 105,261 4S5,?02 189,749 197,283 56,408 201,943 55,8?8 46,503 4?,Oil 203,299 EHFiEF" ii J M J -I S 4 IS a 4 4 4 i " f : : : o u r es ^ £% I:'T7 ^ ^ ™ ™ C TOTAL H3S0URC3S 5,458,926 379.421 1,655.313 464,739 540,543 205,605 201,456 940,335 187,453 128,942 187,089 121,857 446,173 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OP THE FEDERAL RESERVE 3AECS OH FEBRUARY 24, I932 L I A B I L I T I ES (in thousands of dollars) B-69OC Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cv. Dallas San Fran. F.R.notes in actual circulation 2,642,527 181,306 567,675 262,549 310,792 103,779 119,763 569.59s 93,070 6s,62s 83,425 40,882 24l,36o Deposits: Member bank - reserve account 1,877,793 118,856 785,866 118,671 137,557 51,309 48,802 258,039 56,951 40,817 68,241 49,801 142,833 Government 49,302 1,882 25,318 2,206 2,562 2,603 2,230 1,927 2,448 1,228 982 2,091 3,825 Foreign bank 16,399 1,229 5,499 1,666 1,633 647 598 2,167 566 356 469 453 1,116 Other deposits 30,002 90 20,013 419 2,901 138 177 s4o 655 354 85 47 4,283 Total deposits 1,973,496 122,057 836,696 122,962 144,653 54,697 51,807 263,023 60,620 42,755 69,777 52,392 152,057 Deferred availability items 396,426 43,428 106,324 35,072 4o,499 29,221 11,937 47,604 17,866 6,780 20,528 14,632 22,235 Capital paid in 157,857 11,643 60,300 16,368 14,629 5,376 4,982 17,735 4,49s 2,947 4,152 4,043 11,184 Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 38,4li 10,025 6,356 8,124 7,624 17,707 All other liabilities 28,899 94s 9,241 1,302 2,330 1,049 2,518 3,964 1,374 1,476 783 2,284 1,630 TOTAL LIABILITIES 5,458,926 379,421 1,655,313 464,739 540,-543 205,605 201,456 940,335 187,453 128,942 187,089 121,857 446,173 Reserve ratio (per cent) 68.0 71.8 71.5 59.4 63.2 66.2 63.0 79.5 6s.3 62.9 59.7 57.0 52.5 Contingent liability on bills purchased for foreign correspondents 313,251 23,567 101,621 32,346 31,71s 12,561 11,619 42,081 10,991 6,909 9,107 8,793 21,668 FEDERAL RESERVE FOTE STATEMENT Federal reserve notes: Issued to F.R."bank by F.R.agent 2,908,345 202,757 622,241 279,566 327,747 113,580 137,313 627,540 •96,337 70,382 94,580 46,375 289,847 Held "by Federal reserve bank 265,51s 21,451 54,566 17,017 16,955 9,801 17,550 57,942 3,317 1,754 11,155 5,493 45,457 In actual circulation 2,642,827 151,306 567,675 262,549 310,792 103,779 119,763 569,59s 93,070 68,62s S3,425 40,882 241,360 Collateral held "by agent as security for notes issued to "bank Gold and gold certificates 737,952 47,010 323,217 57,400 64,470 11,570 12,775 97,320 15,495 13,155 9,280 12,260 74,000 Gold fund - F. E. Board"" 1,299,050 117,617 115,000 105,300 148,000 64,6oo 71,000 448,000 56,400 40,900 46,800 16,700 68,763 Eligible paper 921,023 45,646 194,446 119,022 125,329 40,305 53,994 87,237 24,532 16,725 44,069 18,151 151,597 Total collateral 2,955,055 210,273 632,663 251,722 337,799 116,475 137,769 632,527 96,427 70,750 100,i49~T7.ll! 2947360" MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days 91 days to Over 6 months 6 months Bills discounted 835,243 651,541 46,619 72,387 45,350 15,258 4,058 Bills bought in open market 133,382 50,110 26,554 21,129 35,564 25 Certificates and bills 347,815 22,338 61,295 7,050 38,136 54,690 134,309 Municipal warrants 4,051 3,702 229 130 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis