H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT TOE T^E PRESS Released for publication 9-705 Friday morning, Mar. 11; Federal Reserve Board not earlier. March 10, 1932. CONDITIO"" OF FEDERAL RESERVE BAMCS The daily average volume of Federal reserve banlc credit outstanding during the week ending March 9> as reported "by the Federal reserve banks, was $1,728,000,000, unchanged from the preceding week and an increase of $7^4,000,000 compared with the corresponding week in 1931# On March 9 total reserve bank credit amounted to $1,69^,000,000, a decrease of $31 . 000 000 for the week. This decrease corresponds with decreases of r 5 $39COO, 000 jn money in circulation and $3,0 0,000 in unexpended capital funds, nonmember deposits, etc*, and an increase of $12,000,000 in monetary gold stock, offset in part by an increase of $£,000,000 in member bank reserve balances and a decrease of $16,000,000 in Treasury currency, adjusted. Holdings of discounted bills declined $25,000,000 at the Federal Reserve Bank of Few York, $24,000,000 at Philadelphia, $6,000,000 at Chicago, $5,000,000 each at Atlanta and San Francisco and $S0000,000 at all Federal reserve banks. The i System's holdings of bills bought in open market increased $22,000,000, of Treasury notes * $4,000,000 and of Treasury certificates and bills $21,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 9* 1932, were as follows: Increase or decrease since Mar. o Mar. 2 Mar. 11 v 19)2 1932 1931 (I :millions of dollars) Bills discounted 7U0 30 + 575 - Bills "benight 13o + 22 13 - United States securities 735 + 25 + ISO Other reserve tank credit 27 + 2 + 14 TOTAL EES-THVE 3AFZ CREDIT 1,69C 31 + 756 Monetary gold stock 4,3^2 + 12 315 - Treasury currency adjusted 1,775 16 + 3 - Money in circulation 5,544 - 39 + 990 Member "ba.nl: reserve balances 1,910 + 526 - Unexpended capital funds,nontnember deposits, etc. 3S2 3 19 - - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Mar. 11,1932; not earlier, B-fO^a RESOURCES A7T) LIABILITIES OF THE TWELVE FEDERAL RESERVE BA'^S COMBINED (In thousands of dollars) Mar. 9,1932 Mar. 2,1932 Mar. 11. 1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,092,347 2,056,147 1,715,384 Gold redemption fund with U.S. Treasury 53,834 54,744 33,118 Gold held exclusively against F.R.notes 2,146,181 2,110,391 1,743,502 Gold settlement fund with F. R. Board 322,321 278,531 500,222 Gold and gold certificates held by banks 490,918 549,552 847,650 Total gold reserves 2,959,420 2,938,974 3,096,374 Reserves other than gold 207,869 206,381 184,172 Total reserves 3,167,289 3,145,355 3,280,546 Fon-resarve cash 7766,,114444 73,549 78,878 Bills discounted: Sec. by U.S. Government obligations 397,340 462,142 49,628 Other bills discounted 350,639 366,260 122,922 Total bills discounted . . 747,979 828,402 172,550 Bills bought in open market 137,534 115,640 151,402 U. S. Government securities: Bonds 318,7^7 318,686 76,025 Treasury notes 83,797 79,501 178,195 Certificates and bills 382,609 361,768 350,484 Total U.S. Government securities 785,123 759,955 604,704 Other securities 9,497 6,073 — Total bills and securities . 1,680,183 1,710,070 928,656 Due from foreign banks 8,613 8,605 69s F. R. notes of other banks 13,658 14,880 14,664 Uncollected items 356,634 384,984 461,472 Bank premises 57,824 57,821 58,243 All other resources . .. 39,035 39,730 19,850 TOTAL RESOURCES 5,399,380 5,434,994 4,843,007 L I A B I L I T I ES F. P.. notes in actual circulation . . . 2,617,381 2,638,488 1,445,855 Deposits: Member bank - reserve account . . .. 1,909,586 1,902,138 2,435,520 Government 47,107 36,875 33,124 Foreign bank 13,464 16,392 5,183 Other deposits 19,001 21,696 16,944 Total deposits . . .. 1,989,158 1,977,101 2,490,771 Deferred availability items 347,564 375,058 448,988 Capital naid in 156,385 156,665 169,024 259,421 259,421 274,636 All other liabilities 29,471 r3,261 13,733 TOTAL LIABILITIES . . .. 5,399,380 5,434,994 4,843,007 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 6s. g£ 6s. if, 83.3^ Contingent liability on bills purchased for foreign correspondents 317,H3 331111,,664400 446600,,994455 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL HSSSRV3 BAMS OU MAHCK 9, 1932 R E S O U R C ES (In thousands of dollars) Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2.092,347 164,62? 448,217 176,900 207,470 74,170 91,275 549,920 77.420 58,745 61,020 30,760 151,763 Gold redemption fund with U.S.Treasur;- 53,834 4,593 11.030 6,930 6.285 2,094 2,703 5,460 2.340 S81 3.103 1.093 Gold held exclusively against F. R. notes 2,146,181 169,220 459,247 183,830 213,755 76,264 93,978 555,380 79,760 59,626 64,183 31,853 159,085 : r : i : i e : : . i : d ^s « im s ^ <a ^ %% Total gold reserves 2,959,420 206,209 901,215 220,107 271,3^5 92,033 111,656 656,482 99,758 68,428 85,068 42,110 205,009 Reserves other than gold 207,8b9 20,911 53,880 25,560 16,4-25 11,291 5,367 26,326 10,934 7,469 7,466 9,997 12,243 Total reserves 3,167,289 227,120 955,095 245,667 287,770 103,324 117,023 682,808 110,692 75,897 92,534 52,107 217,252 lion-reserve casn 76,144 7,555 21,044 4,312 3,592 4,4o6 4,802 12,068 3,5^0 2,032 2,256 3,716 6,811 Bills discounted: ' v y'1 1 Secured by U.S.Govt. obligations 397,340 19,675 92,875 46,701 65,445 11,776 10,602 4l,011 11,275 1,487 8,266 2,813 S5,4l4 Otiier bills discounted 350,639 14,396 44,601 55,328 52,135 24,278 32,044 24,500 7,089 9,l43 29,941 12,284 44,900 Total bills discounted 747,979 34,071 137,476 102,029 117,580 36,054 42,646 65,511 18,364 10,630 38,207 15,097 130,314 Bills bought in open market 137,584 6,491 53,363 6,Ol4 6,830 6,212 6,887 15,882 4,773 1,673 5,211 3 q4l U 307 U. S. Government securities: v 1 . ^ Wi 1:1 1:1 15 SI S IS 1:1 i:l 1:1 £1 MU Total U.S.Govt, securities 785,123 56,156 319,504 62,151 70,892 14,081 12,623 107,646 27,997 27,783 21,183 27,366 37 74l Other securities 9,497 100 8,153 15S - - 1,000 - 86 Total bills and securities 1,680,183 96,818 523,496 170,352 195,302 56,3^7 62,156 190,039 5 1 ,^ 42,172 64,601 46,404 181,362 K W J K -. 0 g IS s S ,.S S i$ ,3 ,8 jg s J& : IS 1:1 '51 ?1 1 S li Hi 11? a % 1# TOTAL RESOURCES 5,399,380 374,714 1,645,314 456,947 528,159 198,952 202,321 940,088 186,899 130,170 182,994 118,611 434,211 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BASICS OTT MARCH 9, 1932 L I A B I L I T I ES (In thousands of dollars) B-705C Total Boston New York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,617,381 173,001 564,536 259,622 307,388 102,089 121,087 562,764 93,013 69,200 84,013 41,713 233,955 Deposits: Member tank - reserve account 1,909,586 119,044 804,502 119,539 139,678 51,420 49,367 270,617 58,914 42,053 66,919 47,840 139,693 Government 47,107 6,025 17,302 2,25s 3,022 2,508 2,266 5,161 1,199 1,651 2,034 1,336 2,345 Foreign bank 13,464 1,254 2,341 1,700 1,667 660 bll 2,211 578 363 478 462 1,135 Other deposits 19,001 6q 8,261 423 2,994 78 1*1 809 617 329 4o 5,161 Total deposits 1,989,158 126,392 832,40b 123,920 147,361 54,666 52,395 278,798 61,303 44,396 69,500 49,678 148,338 Deferred availability items 347,564 37,780 104,306 23,812 29,001 24, v,6 10,870 38,724 16,734 5,728 l6,46l 13,450 21,302 Capital paid in 156,385 11,550 59,471 16,362 14,331 5,313 4,977 17,634 4,499 2,341 4,no 4,030 11,167 Surplus >59,421 20,039 75,077 26,486 27,540 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 29,471 __JLJ45 2,4)8 IjOdS 3,757 1,120 ..ijMz. 78b 2.116 1.742 TOTAL LIABILITIES 5,399,3SO 374,714 1,645,314 456,947 528,159 198,952 202,321 940,088 186, 130,170 182,994 118,611 434,211 Reserve rntio (per cent) 68.8 74.6 68.4 64.1 63.3 55.9 67.5 81 1 71.7 66. 60.3 57.0 56.3 Contingent liability on bills purchased for foreign correspondents 317,113 24,043 103,891 32,584 31,952 12,654 11,705 42,391 11,073 6,960 9,174 8,85s 21,828 FEDERAL RESERVE rOTE STATEMENT Federal reserve notes: Issued to F. R. bark by F.R.agent ?, 876,745197,672 ;17,S56 273,062 324,698 111,510 138,302 6l4,013 98,03b 71,477 93,443 47,43s 284,238 "leld by Federal reserve bank 259,364 19,671 55,320 18,440 17,510 9,421 17,215 51,249 5,023 2,277 9,430 5,725 50,283 In actual circulation 178,001 564,536 259,622 307,388 102,089 121,087 562,764 93,013 69,,200 84,013 41,713 233,955 Collateral held by agent as security for notes issued to be Gold and gold certificates 825,557 47,010 373,217 61,400 64,470 11,570 12,775 121,920 15,520 13,145 9,280 12,260 83,000 Gold fund - F. R. Board 1,266,780 117,617 75,000 115,500 143,000 62,600 78,500 428,000 61,900 45,600 51,800 18,500 68,763 847,479 32,196 135,549 104,843 121,280 40,530 47,634 76,735 20,671 12,946 40,771 17,534 l40,810 Total collateral ?,939,826 202,823 633,766 281,743 328,750 114,700 133,889 626,655 98,091 ,71,691 101,851 43,294 292,573 MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES 91 days to 771 thin 15 days l6 to JO days 31 to 60 days to 90 days Over o months 6 months Bills discounted 747,979 570,71s 49,994 65,815 42,467 14,699 4,286 Bills bought in open market 137,584 64,075 27,862 11,409 33,987 251 Certificates and bills 382,609 56,645 4,250 6,300 106,066 79,213 130,135 Municipal warrants 8,247 8,065 130 20 32 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis