H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEM3MT 5*02 HB PRESS Released for publication 3-723 Friday morning, Mar. 25; Federal Reserve Board not earlier. March 24, 1932. C0ITDITI01T OF FEDERAL RESERVE BAHS The daily average volume of Federal reserve bank credit outstanding during the week ending March 23, as reported by the Federal reserve banks, was $1,596,000,000, a decrease of $76,000,000 compared with the preceding week and an increase of $716,000,000 compared with the corresponding week in 1931» On March 23 total reserve bank credit amounted to $1,597,000,000, a decrease °f $37,000,000 for the week. This decrease corresponds with decreases of $42,000,000 in money in circulation, $8,000,000 in member bank reserve balances and $25,000,000 in unexpended capital funds, nonmember deposits, etc., and an increase of $7,0.10,000 in monetary gold stock, offset in part by a decrease of $46,009,000 in Treasury currency, adjusted. Holdings of discounted bills declined $6,000,000 at the Federal Reserve Bank of Chicago and increased $4,000,000 each at Boston and San Francisco, $3,000,000 each at Hew York and Philadelphia, and $5,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $24,000,000. Total holdings of United States securities declined $7,000,000, the reduction of $32,000,000 due to the retirement of the special Treasury certificate held last week being partly offset by increases of $24,000,000 in holdings of other Treasury certificates and bills and $1,000,000 in Treasury notes. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 23, 1932, were as follows: Increase or decrease since Mar. 23 Mar. lo Mar. 25 1932 lr<32 1931 (In millions of dollars) Bills discounted 666 4- 5 + 500 Bills bought 82 24 2 - - Special Treasury certificates 32 - - - Other United States securities S3 5 4- 25 + 236 Other reserve bank credit 15 10 + 5 - TOTAL RESERVE 3AMX CREDIT 1,597 — 37 + 739 Monetary gold stock 4,381 4- 7 - 308 Treasury currency adjusted 1,792 46 + 28 - Money in circulation 5,480 42 + 933 Member bank reserve balances 1,911 8 446 - - Unexpended capital funds, nonmember deposits, etc, 3 so 25 27 — - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, March 25,1932; not earlier. B-723& RESOURCES Aim LIABILITIES OF THE s m vs FEDERAL HSS3EV3 BATIKS COMBirED (in thousands of dollars) Mar. 23,1932 Mar. 15,1932 Mar. 25,1931 R E S O U R C ES Gold with Federal reserve agents . . . .. 2,192,547 2,187,147 1,729,624 Gold redemption fund with U. S. Treasury . 48,410 50,34o 32,672 Gold held exclusively against F.R.notes 2,240,957 2,237,487 1,762,296 Gold settlement fund with F. R. Board . . 232,379 277,453 504,271 Gold and .gold certificates held by banks , 433,651 481,739 859,801 Total gold reserves 3,007,487 2,996,679 3,126,368 Reserves other than gold 210,596 209,294 183,894 Total reserves 3,218,383 3,205,973 3,310,262 ITon-reserve cash 7766,,557755 75,158 74,333 Bills discounted: Sec. by IT. S. Government obligations . , 341,647 342,452 61,950 Other bills discounted 323,936 318,340 103,475 Total bills discounted . . .. 665,523 660,792 165,425 Bills bought in open market 81,696 105,714 83,272 U. S. Government securities: Bonds 318,732 318,857 66,633 Treasury notes 83,896 83,396 63,227 Special Treasury certificates 32,000 — - Other certificates and bills _4_32370 407,909 468,698 l Total U.S.Government securities 834,993 842,162 598,553 Other securities 6,991 6,954 — Total bills and securities . 1,589,263 1,615,622 847,255 Due from foreign banks . . 6,629 8,613 710 F. R. notes of other banks 14,009 13,73S 14,959 343,167 436,762 464,466 Bank premises 57,82" 57,824 58,323 All other resources 36,143 36,977 16,546 TOTAL RESOURCES . . 5,342,002 5,Hro,657 4,780,854 L I A B I L I T I ES ?. R. notes in actual circulation 2,572,815 2,601,262 1,441,715 Deposits: Member ban]' - reserve account . 1,910,603 1,919,316 2,357,011 Government . . . 43,340 3,5lS 51,4o4 Foreign bank 10,874 12,905 5,086 Other deposits . 18,333 42,030 19,266 Total deposits . . 1,933,150 1,977,769 2,432,767 Deferred availability items . . . 341,612 426,833 454,535 Capital paid in 156,027 156,283 168,894 Surplus 359,421 259,421 274,636 All other liabilities . . . . .. 28,977 29,099 14,257 TOTAL LIABILITIES . . .. 5,342,002 5,450,667 4,786,854 Ratio of total reserves to deposit and F. R. note liabilities combined . , . 70.6$ lo.tyfo 85.4# Contingent liability on bills purchased for foreign correspondents . . . . .. 334,881 336,057 437,233 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BAMS OH MARCH 23, 1932 R E S O U R C ES (in thousands of dollars) B-723b Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,192,547 164,627 493,217 188,400 220,970 74,170 102,275 562,920 77,120 60,745 64,080 34,260 l4g,763 Gold redemption fund with U.S.Treasury 4g,4l0 4,312 10,255 6,449 5,769 1,946 2,400 4,803 2,12. 464 2,7 2 9 »—5_ Gold held exclusively against , F. R. notes 2,240,957 168,939 503,472 194,849 226,739 76,116 104,675 567,723 79,244 01,209 66,822 35,248 155,921 Gold settlement fund with F. R. Board 282,879 13,253 112,622 7,902 28,285 5,722 7,267 55,118 8,342 7,626 7,604 8,121 21,017 Gold and gold certif. held by banks 483,651 19,664 318,903 19,864 21,471 6,887 9,291 28,186 11,913 2,664 13,057 3,579 28,172 Total gold reserves 3,007,487 201,856 934,997 222,615 276,495 88,725 121,233 651,027 99,499 7i,^y9 87,483 46,948 205,110 Reserves other than gold 210,896 20,772 55,320 28,676 16,922 11,182 5,306 26,314 11,123 5,619 6,798 10,220 12,644 Total reserves 3,218,383 222,628 990,317 251,291 293,417 99,907 126,539 677,341 110,622 77,118 94,281 57,168 217,754 ^on-rese>*ve cash 76,575 7,306 20,285 4,289 3,788 4,l4o 5,575 12,438 3,822 2,236 2,4/4 3,961 6,261 s S S s r- SI IIS SS & iS iS £8 'S 4:% ...S ii:!S Total tills discounted 665,583 35,938 132,856 89,314 103,708 32,585 32,274 48,864 18,824 9,032 31,638 10,609 119,441 Bills bought in open market 81,696 4,592 20,703 5,627 4,264 4,320 4,429 13,029 3,552 2,621 3,995 3,485 11,079 \ L r™ S 6 C U r i t i e S: 318,732 23,399 109,414 22,998 25,944 7,772 5,229 53,939 ll,6 7 4 15,845 7,685 16,989 17,844 Treasury notes 83,896 5,661 38,992 6,221 7,502 1,159 1,260 9,119 2,771 2,021 2,328 1,711 5,151 Certificate! -n.l bills 432,370 27,096 196,055 36,403 42,lb8 10,150 6,111 43,902 13,342 9,820 13,913 8,664 24,746 Total U.S. Govt, securities 834,998 56,156 344,461 65,622 75,6l4 19,081 12,600 106,960 27,787 27,686 23,926 27,364 47,741 Other securities 6,991 1,200 4,331 1,357 ~ % % % I 103 Total bills and securities 1,589,268 97,886 502,351 162,420 183,586 55,986 49,303 168,853 50,163 39,442 59,559 41,458 178,261 Due from foreign banks 6,629 536 2,347 727 678 268 248 946 21 13 194 188 463 F. R. notes of other banks 14,009 333 2,794 461 1,185 910 795 1,764 1,399 468 1,690 29s 1,912 Uncollected items 343,167 4l,040 95,859 32,029 30,899 25,578 9,361 39,165 13,668 6,663 18,096 11,893 18,916 Bank premises 57,828 3,336 14,817 2,626 7,962 3,609 2,489 7,827 3,46l 1,834 3,649 1,785 4,433 All other resources 36,143 1,032 13,545 999 1,797 5,088 3,765 3,501 1,619 1,370 1,192 1,276 959 TOTAL RESOURCES 5,,342,002 374,097 1,642,315 454,842 523,312 195,486 198,075 911,835 184,775 129,144 181,135 118,027 428,959 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BA1KS OH HARCF 2J, 19J2 L I A B I L I T I ES (In thousands of dollars) B-723C Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation Deposits: 2,572,215 172,873 561,373 255,563 300,663 33,13b 119,:595 551,236 91,787 69,057 82,341 40,096 226,037 Member bank - reserve account 1,910,603 121,832 Government 43,3^0 4,344 821,864 116,321 140,979 51,093 48,444 255^056 58,679 40,674 66,654 4s,o4i 140,960 Foreign bank 10,874 1,023 1 1 2 , , 7 6 9 87 9 3 1 , , 7 3 4 8 6 7 2,274 1,573 1,927 4,576 2,063 1,522 1,311 2,739 4,578 Other d T ep o o ta s l i d ts e posits IS,333 39 8,949 147 2,759 1,360 1 5 0 3 3 9 1 4 1 9 8 s 1 78 ,8 1 04 ^ 63 7 8 1 2 H 9 i 6 39 Z2 1 5 3 2 7 4 7 .1% 929 1,983,150 127,244 Deferred availability items 341,612 4i,444 845,299 121,601 147 ,.3 72 53,308 50,937 262,217 61,551 42,828 68,428 51,209 150,806 Capital paid in 92,065 30,313 30,818 25,106 9,562 35,772 15,305 6,44s 17,353 13,052 21,374 Surplus 156,027 11,555 59,^31 16,34s 14,277 5,306 4,q42 17,448 4,1-1 S s 2,940 4,104 4,026 11,162 259,421 20,039 75,077 26,486 27,640 11,483 All other liabilities 28,977 942 9,070 1,531 2.^42 1,089 1 2 0, ,5 44 4 9 0 3 3 8 .7 ,4 51 ll 1 1 0 .3 ,0 1A 25 i.R i 6 R , 356 8,1 7 2 8 4 5 7 2 ,6 .0 24 20 1 1 7 . , 8 7 7 0 7 7 TOTAL LIABILITIES R C e o s n e t r i v n e g r e a nt t i l o ia b (p i e l r ity ce o n n t) bills pur- 5 , 3707 T0 .^6k ?1 74.2 5L3' ?2 70,4 66.1 65.5 65.5 74.2 83.3 lP '4 S6 19f"075 S11'835 i s f 7 . 2 n . s 0 129 6 ,1 5 U .9 4 181 6 , 2 1 . 3 5 5 lis,0:7 4 28 , 95 9 62.6 57.S chased for foreign correspondents 33^,881 25,566 108,150 34,649 33,976 13,456 12,447 45,077 11,774 7,401 9,755 9,419 23,211 FEDERAL RESERVE FOTE STATEMENT Federal reserve notes: Issued t© F.R. bank by F.R.agent 2,822,755 194,079 611,124 276,274 320,981 107,696 136,562 602,822 97,001 70,951 Held by Federal reserve bank 249.94-0 21^ 206 92,776 45,714 266,775 —-9, f51—12.,.711 20,318 8.502 16,967 61.S36 5^214, 1,894 10,435 -5+.615 40,733 In actual circulation 2,572,815 172,o73 Collateral held by agent as se- 561,373 258,563 300,663 99,194 119,595 551,236 91,737 69,057 82,341 40,096 226,037 curity for notes issued to bank Gold ana gold certificates Gold fund - F. R. Board 854,067 47,010 393,217 65,400 67,970 11,570 12,775 124,920 15,520 13,145 9,250 12,260 51,000 1,338,480 117,617 100,000 123,000 153,000 62,600 89,500 435,000 Eligible paper 709,703 38.167 ll+2,5S9—92,242 104,534 35.366 14.761 67.34! 6l,600 47,600 54,800 22,000 68,763 -20,3.08 10,364 33.169 12.460 127.0,10 Total collateral 2,902,250 202,794 635,506 250,642 325,504 109,536 137,026 620,263 97,428 71,109 97,449 46,720 277,673 MATURITY DISTRIBUTION OF BILLS A2TD SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days day®. t0 J b montns Over 6 months Bills discounted 665,533 512,343 38,787 Bills boughs in open market 61,352 35,321 13,548 4,232 Certificates and bills 81,696 33,172 8,554 11,048 28,675 244 ^32,370 5,250 3,500 Hunicipal warr ant s 5,791 4,521 1,190 48,236 129,530 155,311 90,543 - 52 25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis