H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-730 Friday morning, Ap,r. 1; Federal Reserve Board not earlier. March 31, 1932. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending March 30, as reported by the Federal reserve banks, was $1,599,000,000, an increase of $3,000,000 compared with the preceding week and of $680,000,000 compared with the corresponding week in 1931« On March 30 total reserve bank credit amounted to $1,587,000,000, a decrease of $10,000,000 for the week. This decrease corresponds with a decrease of $44,000,000 in money in circulation and an increase of $7,000,000 in monetary gold stock, offset in part by a decrease of $-3^000,000 in Treasury currency, adjusted, and an increase of $25,000,000 in unexpended, capital funds, nonmember deposits, etc. Xj \ Holdings of discounted bills increased $5,000,000 at the Federal Reserve Bank of New York, and decreased $19,000,000 at Cleveland, $13,000,000 at Philadelphia, $4,000,000 at Chicago and $33»000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined &lo,000,000, while holdings of United States bonds increased $9,000,000 and of Treasury certificates and bills $28,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending March 30, 1932, were as follows: Increase or decrease since Mar. 30 Mar. 23 Apr, 1 1932 1932 1931 (in millions of dollars) Bills discounted 633 — 33 + 469 Bills bought 66 — 16 — 101 United States securities 872 + 37 + 274 Other reserve bank credit 16 + l + 1 TOTAL RESERVE BAM CREDIT 1,587 10 + 644 Monetary gold stock 4,388 + 7 — 310 Treasury currency adjusted 1,131-to 1%-lJU l - ~ Money in circulation 5,436"? -¥r v f + 816 Member bank reserve balances 1,911 — mmm 481 Unexpended capital funds,nonmember deposits,etc. 405 + 25 2 — Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, April 1,1932; not earlier. 3-730a RESOURCES AH) LIABILITIES OF THE TWELVE ^EBEEAI, T<SBK7E BAfXS CO;~I!"ED (in thousands of dollars) Mar. 30,1932 Mar. 23,1932 Apr. 1, 1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,188,647 2,192,547 1,725,124 Gold redemption fund with U.S. Treasury 44,895 4g,4l0 32,648 Gold hold exclusively against F.R.notes 2,233,5^2 2,240,957 1,757V772 Gold settlement fund with F.R. Board 293,292 282,579 508,972 Gold and gold certificates held "by banks 490,923 433,551 848,452 Total gold reserves 3,017,757 3,007,487 3,115,202 Reserves other than gold 216,810 210,896 180,008 ' Total reserves 3,234,567 3,218,323 3,295,210 Mon-reserve cash 79,131 76,575 73,954 Bills discounted: Sec. by U.S. Government obligations . 312,935 341,647 57,747 Other bills discounted 314,320 323,936 105,883 Total bills discounted . . . 633,255 665,583 163,630 Bills bought in open market 66,362 81,696 166,622 U. S. Government securities: """ends 327,667 312,732 66,600 Treasury notes 84,397 23,896 63,226 Certificates and bills 459,554 432,370 468,537 Total U.S.Government securities 871,618 234,992 592,363 Other securities . . . . . . . . . .. 6,911 6,991 - Total bills and securities 1,578,146 1,539,268 928,615 Due from foreign banks 6,545 6,629 707 F. R. notes of other banks . . . . .. 14,376 14,009 13,608 Uncollected items 351,552 343,167 • 501,567 Bank premises 57,223 57,228 52,332 All other resources 36,327 36,143 17,617 TOTAL RESOURCES 5,332,632 5,342,002 4,889,616 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,546,275 2,572,815 1,497,211 Deposits: Member bank - reserve account . . .. 1,911,496 1,910,603 2,391,214 Government 52,572 43,340 29, l.4o 31,249 10,874 5,151 Other deposits . . . .. 23,325 12,333 20,113 Total deposits 2,018,642 1,923,150 2,446,218 Deferred availability items . . . . . 329,416 341,612 487,611 Capital paid in 155,624 156,027 168,825 Surplus 259,421 259,421 274,636 All other liabilities 29,260 28,977 14,515 TOTAL LIABILITIES 5,332,63s 5,342,002 4,829,616 Ratio of total reserves to deposit and F.R. note liabilities combined . . . 10.3$ 10 M 23.53 'Contingent liability on bills purchased for foreign correspondents 335,425 334,881 430,784 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AZD LIABILITIES OF T7TE FEDERAL RESERVE BAFKS OM MARCH 30, 1932 R E S O U R C ES (In thousands of dollars) B-730b Total Boston Few York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents • 2,188,64? 159,627 493,21? 191,300 230,970 73,170 100,775 55%,920 77,120 60,445 64,020 33,260 l49,?63 Gold redemption fund with U.S.Treasury 44,895 2,236 9,855 6,326 5,707 1,807 2,l4? 4,6l? 2,108 497 2,722 967 5,90b Gold held exclusively against F. R. notes 2,233,542 161,863 503,072 197,626 236,677 7%,977 102,922 559,537 79,228 60,942 66,802 3%,227 155,669 Gold settlement fund with F. R. Board 293,292 9,682 144,265 6,694 25,380 3,814 5,l45 51,477 7,903 8,168 6,l45 6,577 18,042 Gold and gold certif. held by banks 490,925 20,355 324,589 20,346 21,526 7,069 9,318 27,93% 12,088 2,765 13,242 3,578 28,113 Total gold reserves 3,017,757 191,900 971,926 224,666 283,583 85,860 117,385 638,948 99,219 71,875 86,189 44,382 201,824 Reserves other than gold 216,210 21,394 56,393 29,252 17,410 12,377 5,981 26,974 11,084 5,265 7,590 10,780 12,310 Total reserves 3,234,567 213,294 1,028,319 253,918 300,993 98,237 123,366 665,922 110,303 77,1%0 93,779 55,1°2 214,134 Fon-reserve cash 79,131 7.632 . 21,094 3,897 4,233 4,463 5,743 12,686 4,096 2,0?4 2,692 4,051 6,470 Bills discounted: , Secured by U.S.Govt, obligations 318,935 22,630 95,187 30,619 43,628 7,301 5,963 24,544 10,771 1,095 6,404 482 70,311 Other bills discounted 314,320 14,593 42,991 46,638 4l,i66 24,775 26,018 20,612 7,694 8,192 25,813 9,7ol 46,067 Total bills discounted 633,255 37,.223 138,178 77,257 84,794 32,076 31,981 45,156 18,465 9,287 32,217 10,243 116,378 Bills bought in open market 66,362 2,719 21,079 3,572 3,237 3,138 4,185 9,865 2,675 1,670 3,Oo9 2,691 8,462 U. S, Government securities: ^ Bonds 327,667 23,399 109,414 27,998 29,863 7,772 5,236 53,939 11,67% 15,845 7,694 10,989 17,844 Treasury notes 84,397 5,703 39,158 6,266 7,560 1,173 1,270 9,184 2,791 2,035 2,346 1,724 5,187 Certificates and bills %59,554 27,054 216,32? 38,296 4?,379 10,135 6,108 43,837 13,322 9,840 13,895 8,051 24,710 Total U.S. Govt, securities 871,618 56,156 364,899 72,560 84,802 19,080 12,6l4 106,960 2?,?8? 27,720 23,935 2?,364 4?,?4l Other securities 6,911 200 5,281 1,342 - - 88 - - Total bills end securities 1,578,146 96,298 529,437 154,731 172,833 54,294 48,780 l6l,9Sl 48,92? 38,765 59,221 40,298 1?2,581 Due from foreign banks 6,645 536 2,362 ?2? 6?8 268 248 9%6 21 13 195 188 463 F. R. notes of other banks l4,3?6 400 4,639 352 1,26? 881 ,1,04? 2,154 ?80 528 859 171 1,298 Uncollected items 331,558 39,791 89,114 29,296 32,281 25,94l 8,526 44,280 12,533 6,783 15,669 10,420 16,924 Bank premises 57,828 3,336 14,81? 2,626 7,962 3,609 2,489 7,827 3,46l 1,834 3,649 1,785 4,433 All other resources 36,38? 1,012 14,034 98O 1,790 5,0%5 3,7%0 3,^9 1,57% 1,%0% 1.170 1,276 893 TOTAL RESOURCES 5,338,638 362,299 1,703,816 446,52? 522,037 192,73s 193,939 899,265 181,695 128,541 177,234 113,351 417,196 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES'" AH) LTA31 LI TIES OF THE FEDERAL.. RESERVE BAH'S OF MARCH' 30,-1932" L I A B I L I T I ES (In thousands of dollars) £-73,0- Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,546,275 172,875 563.352 254,659 296,946 96,47s 117,913 544,297 91,112 68,207 81,266 38,106 221,064 Deposits'; Member bank - reserve account 1,911,496 111,733 849,988 117,045 l4o,94o 49,946 45,271 246,935 56,680 41,371 66,155 ^7,253 138,179 Government 52,572 3,729 25,110 681 3,652 3,011 3,146 1,795 2,900 933 1,165 2,482 3,968 Foreign "bank 31,249 1,023 22,175 1,327 1,360 539 498 1,804 471 296 390 377 929 Other deposits 23,325 320 l4,474 236 2,594 105 155 44 0 649 255 93 24 3.980 Total deposits 2,018,642 116,805 9H,7%7 US,349 148,546 53,601 49,070 250,974 60,700 42,855 67,803 50»:136 147,056 Deferred availability items 329,416 40,075 85,292 28,232 31,995 24,812 9,-015 44,415 14,037 6,676 15,164 11,355 18,348 Capital paid in 155,624 11,531 59,190 16,250 14,276 5,291 4,94o 17,449 4,483 2,941 4,102 4,024 11,147 Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 38„4H 10,025 6,356 8,124 7,624 17,707 All other liabilities 29,260 974 9.158 1,551 2.634 1.071 2,552 3.719 1,338 1,506 -H5- 2.106 1,874 TOTAL LIABILITIES 5,338,638 362,299 1,703,816 446,527 522,037 192,73s 193,939 899,265 181,695 128,541 177,234 113,351 417,196 Reserve ratio (per cent) 70.9 73.6 69.7 67.9 67.6 65.5 73.9 83.7 72.7 69.5 62.9 62.5 58.2 Contingent liability on bills purchased for foreign correspondents 335,425 25,566 108,695 34,649 33,976 13,456 12,446 45,077 11,774 7,401 9,755 9,419 23,211 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.bank by F.3.agent 2,788,959 193,799 612,624 268,670 314,506 106,007 133,890 596,305 96,074 69,720 92,175 43,665 261,524 Held by Federal reserve bank 242,684 20,924 49,272 14,011 17.560 9,529 15.977 52.008 4.962 1.513 10,909 5.559 40.460 In actual circulation 2,546,275 172,875 563,352 254,659 296,946 96,478 117,913 544,297 91,112 68,207 81,266 38,106 221,064 Collateral held by agent as security for notes issued to bank Gold and gold certificates 854,067 47,010 393,217 65,400 67,970 11,570 12,775 124,920 15,520 13,145 9,280 12,260 81,000 Gold fund - F. B. Board 1,334,580 112,617 100,000 125,900 163,000 61,600 88,000 430,000 6l,600 47,300 54,800 21,000 68,763 Eligible paper 661,043 37,579 148,373 77.591 84.689 33.674 33,664 50,500 18.990 9.498 33.117 11.183 122.185 Total collateral 2,849,690 197,206 641,590 268,891 315,659 106,844 134,439 605,420 96,110 69,943 97,197 44,443 271,94s MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 5 months 6 months Bills discounted 633,255 486,632 37,151 56,830 34,4i4 13,864 4,364 Bills "bought in open market 66,362 28,602 10,970 15,810 10,742 238 Certificates and bills 459,554 6,143 3,800 66,916 89,550 183,538 109,607 Municipal warrants 6,711 5,591 1,000 52 68 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis