H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT foe the press Released for publication --756 Friday morning, Aor. 29; Federal Reserve Board not earlier. April 23, 1912 CONDITIO? 0? FEDERAL RESERVE BA^CS Tne daily average volume of Federal reserve bank credit outstanding during tne weuk ending April 27, as rsnorted by the Federal reserve banks, was ,759»000,000, an increase of $46,000,000 compared with the preceding week and of $835,000,000 compared with the corresponding week in 1931. On April 27 total reserve bank credit amounted to $1,7^5,000,000, an increase of $S5iOvO,000 for tne week. This increase corresponds with an increase of $135,000,000 in member bank reserve balances and a decrease of $9,000,000 in monetary gold stock, offset in part by decreases of $27,000,000 in money in circulation nr.d $4,000,000 in unexpended capital funds, no::member deposits, etc., and an increase of $29,000,000 in Treasury currency, adjusted. Holdings ol discounted bills declined $9,000,000 each at the Federal Reserve Banks of Cleveland and San Francisco, $6,000,000 at Atlanta and $33,000,000 at all Federal reserve 0antes. The System's holdings of bills bought in open market declined $3,000,000, while holdings of United States Treasury notes increased $10,000,000 and of Treasury certificates and bills $103,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending April 27, 1932, were as follows: Increase or decrease since Aor. 27 Anr. 20 Anr. 29 1932 1932 1931 (in millions of dollars) Bills discounted 532 - 33 -t-377 Bills bought ''45 - 3 124 United States securities 1 ]_qj_ +113 - 593 Other reserve bank credit 17 + 0 4 + TOTAL RESERVE BA"1( CREDIT 1,735 + 25 •f 849 Monetary gold stock 11)360 - 9 353 Treasury currency adjusted 1,753 + 29 +- 4 Money in circulation 5,393 - 27 777 Member bank reserve balances 2,114 +135 254 Unexpended capital funds,nonmomber deposits, etc. 424 - 4 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, Aprjl 29,1932; not earlier. E~756a RESOURCES AKD LIABILITIES OF THE TWELVE FLPEiiAL E3SE371 BA/^KS COMBINED (in thousands of dollars) Apr. 27,1932 Apr. 20,1932 Apr. 29,1931 R E S O U R C ES Gold with Federal reserve agents . . . 2,265,856 2,223,947 1,782,31% Gold redemption fund with U.S.Treasury 36,100 41,070 32,529 £oia held exclusively against F.R.notes 2,305,956 2, 265,017 1,814,843 Gold settlement fund with F. R. Board . 311,873 297,297 5^3 KLI-J 1 Gold and gold certificates held by banks 394,700 46l,4l5 306,123 Total_gold reserves . . . . .. 3,014,534 3,023,729 3.17^^709 Reserves other than gold 218,502 212,969 177,359 Totalj^serves 3,233,036 3,236,698 3^352^5 Non-reserve cash 30,448 76,315 70,673 Bills discounted: 267,366 Sec. by U.S. Government obligations . 239,458 6l,46S 292,366 297,157 Other bills discounted 93]653 Total bills discounted 531,824 564,523 155,151 169,765 Bills bought in open market 45,874 48,547 U. S. Government securities: Bonds 346,399 346,198 60,457 Tr0asury notes 95,447 85,446 R2 229 Certificates and bills 749,386 646,486 485,620 Total U.S. Government securities . 1,191,232 1,078,130 598,306 Other securities H.S15 4,501 350 1,695,701 Total bills and securities . . 1,773,745 923,572 5,695 6,683 697 Due from foreign banks F. R. notes of other banks l4,9l4 16,305 15,302 Uncollected items 347] 115 388!362 469,'010 Banjc premises 57,855 57,855 58,420 All other resources 35,100 34,118 17,102 TOTAL RESOURCES 5,548,108 5,512,537 4,906,844 L I A B I L I T I ES 2,526,572 F. R. notes in actual circulation . . ' 2,544,764 1,527,740 Deposits: Member bank - reserve account . . . 2,114,423 1,378,642 2,407,^29 31,637 Government 49,155 78,334 Foreign bank 49,593 47,317 5,681 Other deposits 21,024 27,078 18,591 Total deposits 2,234,200 2,131,371 2,462,240 Deferred availability items . . .. 341,313 390,708 457,272 Capital paid in 155,240 155,376 163,612 Surplus . 259,421 259,421 274,636 30,897 AH other liabilities 31,357 15,744 5,548,108 5,512,537 TOTAL LIABILITIES . . .. 4,906,844 Ratio of total reserves to deposit and F. R. note liabilities combined . . 67.9$ 69,2$ 84.0$ Contingent liability on bills purchased 297,735 410,076 for foreign correspondents 308,843 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AID LIABILITIES OF THE FEDERAL RESERVE BAMS OF APRIL 27, 1932 R E S O U R C ES (in thousands of dollars) B-756t Total Boston >Tew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 167,627 567,395 170,763 Gold with Federal reserve agents 2,263,256 524,726 192,300 234,970 74,620 98,775 S0,845 62,745 66,080 29,010 1,869 8,256 3,267 Gold redemption fund with U.S.Treasury 36,100 3,977 1,383 2,192 3,64-5 1,920 489 2,457 95® 5,083 Gold held exclusively against F. Ft. notes 2,305,956 169,496 532,982 196,167 238,947 76,003 100,973 571,o4o 82,765 63,234 68,537 29,966 175,846 Gold settlement fund with 3P.R. ?oar( * 313,373 6,442 133,670 3,361 35,559 4,231 9,654 64,916 6,079 2,902 7,409 5,937 27,712 2-oId and gold certif. held by tanks 394,700 19,221 251,077 12,681 17,735 6,622 7,916 27,929 11,853 2,952 13,103 3,942 19,657 Total gold reserves 3,014,534 195,165 917,729 212,209 292,241 86,862 118,543 663,885 100,697 75,088 89,049 39,851 223,215 Reserves other than gold 218,502 21,684 59,329 28,753 18,600 13,347 6,051 25,622 10,525 4,067 6,975 11,405 12,144 Total reserves 3,233,036 216,249 977,058 240,962 310,241 100,209 124,594 689,507 111,222 79,155 96,024 51,256 235,359 ^on-reserve cash 20,44s 6,852 23,677 3,653 3,820 4,315 5,415 13,602 3,826 2,025 2,222 4,312 6,724 Bills discounted: Secured by U.S.Govt, obligations 239,45s 18,205 69,450 23,635 31,054 4,869 8,325 20,555 8,451 1,605 5,457 3,394 44,458 Other tills discounted 292,366 14,299 35,389 44,171 39,065 20,484 25,932 18,436 5,970 8,591 25,190 10,862 43,977 Total tills discounted 531,824 32,504 104,339 67,806 70,119 25,353 34,257 38,991 14,421 10,196 30,647 14,256 88,435 I ills bought ir. open riarket 45,874 2,415 13,500 3,407 3,122 2,374 2,604 5,404 1,552 222 1,496 1,566 7,252 IT. S. Government securities: Bonds 346,399 26,847 130,534 23,192 26,422 7,772 5,340 57,119 11,674 15,946 7,695 16,929 16,863 Treasury notes 95,447 6,494 4I,I47 8,OOS 9,857 1,446 1,448 11,678 3,120 2,321 2,636 1,973 5,209 Certificates and tills 749,356 32,815 412,175 62,013 67,437 13,613 5,944 73,991 16,120 9,509 14,555 8,902 32,312 Total U.S.Govt, securities 1,191,232 66,156 583,856 93,213 103,722 22,831 12,732 142,782 30,974 27,776 24,936 27,864 54,384 Other securities 4,215 3,152 1,585 78 - - - - - - - — - Total tills and securities 1,773,745 101,075 705,647 166,011 176,963 50,55s 49,593 187,183 46,947 38,932 57,079 43,68b 150,071 Sue from foreign tanks 5,695 457 2,038 620 578 229 212 806 21 13 166 160 395 H. notes of other banks 14,914 325 3,929 278 1,226 994 763 1,764 1,224 400 1,484 364 2,103 Uncollected items 347,315 41,598 92,009 29,564 31,250 27,670 9,329 41,426 14,232 6,170 17,392 ll,06s 19,607 Bank premises 57,855 3,336 14,817 2,651 7,963 3,609 2,488 7,827 3,461 1,834 3,649 1,737 4,433 All other resources 35,ioo 1,647 14,513 9 08 1,700 5,003 3,663 1,714 1,432 1,345 1,097 1,284 794 TOTAL RESOURCES 5,548,102 372,139 1,239,688 444,652 534,401 192,527 196,057 943,829 182,365 129,874 179,113 113,917 419,486 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES'AED-'LIABILITIES' OF THE 'FEDERAL RESERVE' BA^XS OF APRIL 27, I932 L I A B I L I T I ES (In thousands of dollars) 3-756b Total Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,526,572 176,50% 561,429 249,145 290,945 92,885 115,547 542,094 89,922 70,721 80,205 36,959 220,216 Deposits: Member "bank - reserve account 2,114,423 117,215 1,000,888 114,912 143,584 49,938 47,297 293,334 56,686 39,652 66,182 46,113 132,622 Government 49,155 180 13,909 2,524 16,313 3,229 2,630 370 2,309 i,o4o 1,550 2,54s 2,545 Foreign "bank 49,598 3,9^7 14,597 5,349 5,245 2,077 1,921 6,959 1,818 1,142 1,506 1,454 3,583 Other deposits 21,024 82 10,780 122 2,4l6 124 171 543 824 273 71 1,098 4,520 Total deposits 2,234,200 121,424 1,040,174 122,907 167,558 55,368 52,019 301,206 51,213 149 ,,270 Deferred availability items 341,318 4i,606 93,858 28,066 31,139 26,507 10,554 40,851 14,967 6,198 16,550 12,050 18,972 Capital paid in 155,240 11,533 59,166 16,231 14,225 5,233 4,884 17,360 4,486 2,935 4,094 3,976 11,117 Surplus 259,421 20,039 75,077 26,486 27,646 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 31,357 1,033 9,984 1,817 2,894 1,111 2,6o4 3,907 1,322 1,549 iOI_ 2,095 2,204 TOTAL LIABILITIES 5,548,108 372,139 1,839,688 444,652 534,401 192,537 196,057 943,829 182,365 129,874 179,H3 113,917 419,486 Reserve ratio (per cent) 67.9 72.8 61.0 64.8 67.8 67.6 74.4 81.8 73.4 70.2 64.2 58.1 63.7 Contingent liability on bills pur- 297,735 22,531 97,918 30,536 29, chased for foreign correspondents 11,859 10,969 39,726 10,376 6,522 8,595 8,301 20,456 FEDERAL RESERVE FOTE STATEMENT Federal reserve notes: Issued to F.R.hank by ?.R.ajent 2,762,674 196,068 616,22; 260,011 304,850 100,732 132,636 591,503 94,571 72,391 92,293 42,149 259,242 Held by Federal reserve bank 236,102 19.564 54,793 10,866 13,905 7,853 17,089 49,409 4,649 1,670 12.088 5,190 39.026 In actual circulation 2,526,572 176,504 561,429 249,145 290,945 92,885 115,547 542,094 89,922 70,721 80,205 36,959 220,216 Collateral held by agent as security for notes issued to bank Gold and gold certificates 966,726 47,010 484,726 73,400 71,970 12,520 14,275 123,395 15,745 13,145 9,280 12,260 89,000 Gold fund - F. R. Board 1,303,130 120,617 4o,ooo 118,900 163,000 62,100 34,500 444,000 65,100 49,600 56,800 16,750 81,763 Eligible paper 539,668 32,556 107,409 67,782 69,911 26,342 34,711 39,915 13,922 9,812 29,910 14,586 92,812 Total collateral 2,809,524 200,183 632,135 260,082 304,881 100,962 133,486 607,310 94,767 72,557 95,990 43,596 263,575 MATURITY DISTRIBUTION OF BILLS AH) SHORT TEH!SECURITIES , c.. , , 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days g months Over 6 months Bills discounted 531,824 388,169 35,894 50,743 37,239 16,312 3,467 Bills bought in open market 45,874 8,567 10,769 6,988 19,280 270 Certificates and bills 749,326 24,855 53,591 99,050 152,525 301,096 118,269 Municipal warrants 4,215 3,202 1,388 52 110 63 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis