H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATSMETT FOR TH5 PB3SS Released for publication B-775 Friday morning, May 13; Federal Reserve Board not earlier. May 12, 1932. COHDITIOF OF FEDERAL HSS'SRVI B.4M3 The daily average volume of Federal reserve bank credit outstanding during the week ending May 11, as reported, by the Federal reserve banks, was $1,895,000,000, an increase of $53,000,000 compared with the preceding weak and of $9>o2, 000,000 compared with the corresponding week in 1931. On May 11 total reserve bank credit amounted to $1,919,000,000, an increase of $60,0j0,000 for the week. This increase corresponds with decreases of $3*1,000,000 in monetary gold stock and $47,000,000 in Treasury currency, adjusted, offset in part by decreases of $17,000,000 in money in circulation and $3,000,000 in member bank reserve balances. Holdings of discounted bills declined $14,000,000 at the Federal Reserve Bank of San Francisco, $5,000,000 each at Cleveland and Chicago, $4,000,000 at Few York and $35,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $2,000,000, while holdings of United States Treasury notes increased $41,000,000 and of Treasury certificates and bills $55,000,000. This week's statement shows United States Government securities in the amount of $97,000,000 pledged with Federal reserve agents as collateral for Federal reserve notes. Changes in the amount of reserve bank credit outstanding and. in related items during the week and the year ending May 11, 1932, were as follows: Increase or decrease since May 11 May 4 May 13 _1912_ 19]2_ 1931 (In rnillio: n.s of dollars) Bills discounted 471 35 + 326 Bills bought 43 2 - 110 - U. S. Government securities 1,325 98 + 787 Other reserve bank credit 13 3 2 - TOTAL R5SFRYE BASK CREDIT 1,919 *+• 60 +1,001 Monetary gold stock 4,314 31 - 452 — Treasury currency adjusted 1,771 47 2 - Money in circulation 5,431 — 17 + 804 Member bank reserve balances 2,144 - 3 - 277 Unexpended capital funds, nonmember deposits, etc. 428 + 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, I,'a/ 13; 19325 not earlier. B-77^& RESOTT.CES A1"!) LIABILITIES OF THE T'7EL73 * T.Z 'AL ISS^TrS ^AITKS 00!-rBIlTSD (In thousandr> of dollars) May 11.1932 Hay 4,193? Hay 13, 1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,219,609 2,269,121 1,757»864 Gold redemption fund with U.S.Treasury . jk, 832_ 35>510 32,623 Gold held exclusively against F.R.notes 2,254,447 2,304,691 1,790,487 Gold settlement fund with F. R. Board . 335>320 321,685 6o4,223 Gold and gold certificates held "by "banks 366,650 366,045 815,899 Total gold reserves 2,956,417 2,992,421 3»210,509 Reserves other than gold 207,733 210,825 178,275 Total reserves 3,164,150 3» 203,246 3,3&2,884 ITon-reserve cash 77,209 72,354 71,46l Bills discounted: Sec . "by U. S. Government obligations . 190,555 220,079 48,832 Other bills discounted 280,818 285,722 96,072 Total bills discounted . . . 471,373 505,201 144,904 Bills bought in open market 42,719 44,522 153,103 U. S. Government securities: Bonds 346,147 346,149 59,015 Treasury notes 153,740 111,222 52,228 Certificates and bills 885,380 829,510 487,171 Total U.S. Government securities . 1,385,267 1,286,881 598,4l4 Other securities . . . .. 5,042 4,929 1,118 Total bills and securities . . 1,904,401 1,842,133 897,544 Due from foreign banks 4,699 5,692 ^ 69% F. R. notes of other banks 14,994 1 4 , 3 9 2 1 5 , 4 78 Uncollected items 354,586 370,846' 542,396 Bank promises . . .. 52,082 52,083 52,422 All other resources 37,519 37,172 18,760 TOTAL RESOURCES 5,615,6^0 5,603,9]|3 4,993,703 L I A B I L I T I ES F. R. notes in actual circulation . .. 2,551.363 2,561,646 1,528,310 Deposits: Member bank - reserve account . . .. 2,144,373 2,l47,l48 2,420,793 Government . . 51,075 12,837 36,200 Foreign bank 44,177 45,063 5«219 Other deposits 33,350 32,054 20,369 Total deposits 2,272,975 2,237,102 2,483,181 Deferred availability items 344,884 359,19% 522,909 Capital paid in 154,806 154,892 168,453 Surplus 259,421 259,421 274,636 All other liabilities 52,191 31,6^9 u l6,2l4 TOTAL LIABILITIES . . . . 5^615,640 5,603,91% 4,993,703 Ratio of total reserves to deposit and F. R. note liabilities combined . . 65.6$ 66.8^ 84.5$ Contingent liability on bills purchased for foreign correspondents 270,741 278,042 394,907 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BAHCS OH MA.Y 11, 1932 R E S O U R C ES (in thousands of dollars) B-774d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,219,609 182,627 %79,9%9 186,000 232,970 73,070 97,775 5^7,395 77,750 60,870 65,080 29,360 186,763 Gold redemption fund with U.S.Treasury 34,838 1,806 7,7^7 4,185 3,791 1,380 1,894 3,158 1,776 771 2,399 1,031 4,900 Gold, held exclusively against F. R. notes 2,254,447 184,433 437,696 190,185 236,761 74,450 99,669 550,553 79,526 6l,64l 67,479 30,391 191,663 Gold settlement fand with F.R. Board 335,320 28,036 115,751 10,907 24,969 3,676 10,236 94,046 6,526 9,759 7,395 4,285 19,684 Gold and gold certif. held "by banks 366,650 16,724 220,025 9,397 17,757 6,913 7,149 27,724 11,317 3,074 13,082 5,506 27,977 Total gold reserves 2,956,417 229,243 823,472 210,489 279,487 35,044 117,054 672,323 97,369 74,474 87,956 40,182 239,324 Reserves other than gold 207,733 21,403 55,982 27,552 17,833 12,841 6,035 22,936 10,253 3,805 6,622 10,990 11,481 Total reserves 3,164,150 250,646 879,454 233,041 297,320 97,885 123,089 695,259 107,622 78,279 94,578 51,172 250,805 Ton-reserve cash 77,209 5,560 24,124 3,536 3,521 3,659 4,916 12,731 3.93S 2,127 2,255 3,949 6,843 Bills discounted: Secured "by U.S.Govt, obligations 190,555 13,367 63,958 20,073 24,279 4,148 7,573 15,126 7,612 1,576 4,703 1,667 26,173 Other "bills discounted 280,818 15,331 36,119 41,012 34,163 13,473 23,098 17,851 5,300 8,930 23,590 9,577 47,324 Total tills discounted 471,373 23,698 100,077 61,035 58,442 22,621 30,971 32,977 12,912 10,556 23,293 11,244 73,497 pills bought in open market 42,719 2,346 13,029 3,387 3,104 2,154 1,570 5,013 1,519 692 1,463 1,421 6,216 U. S. Government securities: Bonds 346,147 13,5S3 174,354 23,459 23,280 5,464 3,514 50,413 7,322 12,124 6,029 14,244 12,351 Treasury notes 153,740 8,076 73,986 12,513 14,519 3,407 2,126 17,973 4,255 2,319 3,716 2,646 7,704 Certificates and bills 885,380 44,496 443,818 69,334 80,449 18,879 11,667 99,534 23,577 15,621 20,602 14,663 42,690 Total U.S.Govt, securities 1,385,267 66,155 692,15s 105,316 118,243 27,750 17,307 167,970 35,154 30,564 30„347 31,553 62,745 Other securities 5,042 - 3,289 1,675 - - - - 78 - - - Total bills and securities 1,904,401 97,199 809,353 171,463 179,794 52,525 49,848 205,960 49,585 41,390 60,108 44,218 142,453 Due from foreign banks 4,699 374 1,699 508 474 188 174 660 19 12 136 131 324 F. R. notes of other banks 14,994 251 4,337 339 1,071 1,239 856 1,639 1,339 549 1,322 161 1,791 Uncollected items 354,5-36 4o,6n 94,827 31,104 32,354 29,402 10,053 42,752 15,644 6,532 18,884 11,775 20,648 Bank premises 58,082 3,336 14,817 2,373 7,965 3,611 2,439 7,827 3,461 1,834 3,649 l,7S7 4,433 All other resources 37,519 1,613 13,146 893 1,671 4,143 3,695 1,552 l, 4o6 1,345 1,05s 1,321 671 TOTAL RESOURCES 5,615,640 399,590 1,846,757 443,757 524,170 192,707 195,120 963/430 183,064 132,56s 121,990 114,514 427,973 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES ATTD LIABILITIES OF THE FEDERAL RESERVE BAMS 01? MAY 11, 1932 L I A B I L I T I ES (In thousands of dollars) B-774c Total Boston T'ew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. P.P..notes in actual circulation 2, 551,363 127,273 564,829 249,305 292,054 92,322 115,663 547,339 90,177 72,664 so,905 35,435 223,397 Deposits: Member "bank - reserve account 2, 144,373 134,022 929,970 117,182 i4i,482 50,620 46,304 313,110 56,579 39,255 67,459 45,776 141,454 Government 51,075 1,24s 23,775 2,734 6,73^ 2,985 3,198 551 1,122 1,685 1,219 2,288 3,479 Foreign bank 44,177 3,442 13,653 4,665 4,574 1,811 1,676 6,069 1,535 996 1,313 1,262 3,125 Other deposits 67 4R6 28 5 108 Total deposits 2,272,975 135,779 1,047,249 124,206 155,272 55,751 51,216 320,156 60,364 42,821 70,099 52,921 152,905 Deferred availability items 344,884 40,921 90,167 29,964 32,035 26,217 9,715 4i,i6o 16,669 6,160 17,934 12,486 20,856 Capital paid in 154,806 11,526 59,134 16,231 14,212 5,218 4,233 17,329 4,483 2,934 4,091 3,961 10,792 Surplus 259,421 20,039 75,077 26,426 27,640 11,423 10,449 32,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 32,191 1,052 10,301 1,965 2,945 1,116 2,594 4,005 1,346 1,633 837 2,027 2,310 TOTAL LIABILITIES 5,615,640 399,590 1,246,757 448,757 524,170 192,707 195,120 968,430 183,064 132,568 181,990 Il4,5i4 427,973 Reserve ratio (per cent) 65.6 76.9 54.6 63.6 66.5 66.1 73.5 30.1 71.5 67.8 62.6 57.9 66.6 Contingent liability on bills purchased for foreign correspondents 270,741 20,660 87,517 28,000 27,456 10,274 10,058 36,427 9,515 5,931 7,224 7,612 12,757 FEDERAL RESERVI F0TE STATEME?TT Federal reserve notes: Issued to P.R.bank by P.R.agent 2,765,345 207,218 626,792 261,044 304,503 99,119 132,550 577,339 94,177 75,320 89,986 40,957 256,340 Held by Federal reserve bank 213,982 19,945 61,963 11,739 12,449 6,797 16,887 30,000 4,000 2,656 9,031 5,522 32,943 In actual circulation 2,551,363 137,273 564,829 249,305 292,054 92,322 115,663 547,339 90,177 72,664 80,905 35,435 223,397 Collateral held by agent as security for notes issued to bank Gold and gold certificates 955,969 47,010 479,949 76,140 71,970 12,420 14,775 123,395 15,650 13,120 9,280 12,260 80,000 Gold fund - ?. R. Board 1,263,640 135,617 109,860 161,000 60,650 83,000 424,000 62,100 47,750 55,800 17,100 106,763 Eligible paper 474,219 28,221 102,602 61,264 58,290 23,303 30,721 33,571 12,521 10,167 27,740 11,651 74,162 U. S. Gov't, securities _ 97,300 49,000 14,000 15,000 3,000 6,000 - 4,000 6,300 Total collateral 2,791,128 210,842 631,557 261,264 306,260 99,373 134,496 580,966 94,271 77,337 92,220 4l,0ll 260,925 MATURITY DISTRIBUTION OF BILLS AFD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 471,373 332,185 34,455 50,427 30,752 12,471 5,077 Bills bought in open market 42,719 11,410 4,953 8,049 18,067 240 Certificates and bills 225,320 53,591 54,500 79,100 213,025 271,304 213,860 Municipal warrants 5,042 4,726 ill 142 63 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis