H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMSTT FOR THE PRESS Released for publication 3-781 Friday morning, Ma;* 20; Federal Reserve Board not earlier. May 19, 1932. CONDITIO?7 OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending May 18, as reported by the Federal reserve banks, was $1,94U,000,000, an increase of $49,000,000 compared with the preceding week and of $1,02%,000,000 compared with the corresponding weelc in 1931 • On May 18 total reserve bank credit amounted to $1,988,000,000, an increase of $69,000,000 for the week. This increase corresponds with increases of 813,000,000 in money in circulation and $48,000,000 in member bank reserve balances and a decrease of &H0,000,000 in monetary gold stock, offset in part by an increase of $28,000,000 in Treasury currency, adjusted, and a decrease of $7,000,0-'JO in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $7,000,000 at the Federal Reserve Bank of San Francisco, and decreased $5,000,000 at Chicago, $4,000,000 at Cleveland and $6,000,000 at all Federal reserve banks. The System's holdings of bills bought in open narket declined $2,000,000,, while holdings of United States bonds increased $13,000,000, of Treasury notes $11,000,000 and of Treasury certificates and bills $57,000,000. Changes in the amount of reserve bank credit outstanding and in related itens during the week and the year ending May 18, 1932, were as follows: Increase or decrease since May 18 May 11 May 20 1932 1932 1931 (In millions of dollars) Bills discounted 4G5 - 6 + 316 Bills bought 4i — 2 - 90 U. S. Government securities 1,466 + 81 + S07 Other reserve bank credit 16 3 - - TOTAL RESERVE BANK CREDIT 1,988 + 69 +1,094 Monetary gold stock 4,274 - 4o - 498 Treasury currency adjusted 1,799 + 28 + 7 Money in circulation 5,449 + 18 + 810 Member bank reserve balances 2,192 + 48 - 219 Unexpended capital funds, nonrnenber deposits,etc. 421 - 7 + 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 20,1932; not earner. B-7S2a RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL 22SWB 5AMCS CO>fiEPTED (in thousands of dollars) M2.LJiL.i9i2 May 11,1932 May 20.1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,177,750 2,219,609 1,790,864 Gold redemption fund with U.S.Treasury . 36,95** 34.818 32,514 goldheld exclusively against F.R.notes 2,214,704 2,254,447 1,823,378 Gold settlement fund with F. 5. Board . 370,787 335,320 583,418 Gold and gold certificates held by banks 333,5^1 366,050 816,491 Total sold reserves . . . . . .. 2,919,032 2,956,417 3,223,287 Reserves other than gold 203,123 207,733 176,615 Total reserves . . .. 3,122,155 3,164,150 3,399,902 IToh-reserve cash 72,905 77,209 75,046 Bills discounted: Sec. by U.S. Government obligations 159.0S3 190,5^5 49,875 Other bills discounted. 275,060 280.818 99,001 Total bills discounted . . . . , 464,943 471,373 148,376 Bills bought in open market 4o,643 42,719 131,007 U. S. Government securities: Bonds 355,65s 346,147 59,171 Treasury notes 165,422 153,740 52,231 Certificates and bills 942,323 835,380 487,134 Total U.S. Government securities 1,456,403 1,385,267 598,536 Other securities . . „ 5,023 5,042 767 Total bills and securities . . . 1,977,012 1,904,401 879,186 Due from foreign banks 4,629 4,6no • 699 F. R. notes of other banks 14,733 14,994 16,492 Uncollected items ] 393,311 354,586 512,172 Zscxz premises 53,084 58,082 58,580 All other resources . 33,457 37,519 TOTAI RESOURCES 5,681,286 5,615,640 4,961,207 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2,558,107 2,551,363 1,551,458 Deoosits: Member bank - reserve account 2,192,403 2,144,373 2,410,799 Government . 26,429 51,075 15,445 Foreign bank 45,578 44,177 5,727 Other deposits 25,125 33,350 20,551 Total deoosits 2,289,535 2,272,975 2,452,524 Deferred availability items 387,06s 344,884 497,812 Capital paid in 154,784 154,806 168,476 Surplus 259,4.21 259,421 274,636 All other liabilities . . .. 32,371 32,191 16.301 TOTAL LIABILITIES 5,681,286 5,615,640 4,961,207 Ratio of total reserves to deposit ana,, F. R. note liabilities combined 64.4$ 65.6$ 84.9# Contingent liability on bills purchased for foreign correspondents 239,948 270,741 383,698 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A11D LIABILITIES OF THE FEDERAL RESERVE BAKES OIT I1AY 18, 1932 R E S O U R C ES (In thousands of dollars) B-7S2b Total Boston TTevr York Phila. Clave. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,177,75° 187,627 '467,965 122,500 222,470 67,470 92,975 555.395 To,625 58,820 63,030 25,060 177,7^3 Gold redemption fund with U.S.Treasury 36,954 1,649 10,459 4,079 4,123 1,603 2,189 2,951 1,727 929 2,377 983 3,855 Gold held exclusively against F. R. notes 2,214,704 189,276 4-73,454 186,579 226,593 69,073 95,154 552,346 78,352 59,749 65,457 26,043 181,618 Gold settlement fund with F. R. Board 370,727 33,445 l60,037 7,028 24,425 1,470 9,076 36,204 5,429 10,023 10,519 4,091 18,920 Gold and gold certif. held by banks 333,541 16,699 185,698 9,4lS 17,351 6,951 7,389 27,295 11,226 3,052 11,171 5,447 30,786 Total mold reserves 2,519,032 239,420 824,139 203,023 268,929 77,494 112,129 671,84$ 95,127 72,224 37,l4? 35,581 231,324 Reserves other than gold 203,123 21,701 51,177 27,762 17,760 12,728 6,0l4 23,24% 10,169 3,749 6,976 11,036 10,810 Total reserves 3,122,155 26-1,121 875,366 230,785 286,689 90,222 118,l43 695,026 105,296 76,573 94,123 46,617 242,134 Eon-reserve cash 72,905 5,723 20,519 3,634 3,721 3/465 4,973 12,662 3,967 2,137 2,157 3,652 6,295 Bills discounted: Secured by U.S. Govt, obligations 189,02] 11,6^2 6l,5]l 19,^52 22,7^3 ^,579 7,2^2 11,34} 7,835 3,339 ^,722 1,572 30,372 Other bills discounted 2/5,-60 15,151 16,063 ^0,39^ 30,953 19,095 23,099 lp,7v9 5,393 8,9^5 20,929 9,809 ^"9,533 Total bills discounted 464,943 28,999 92,194 59,848 53,701 23,674 30,34l 27,642 13,233 12,324 25,651 11,381 79,955 Bills bought in open market' 40,64-3 2,346 13,278 3,387 3,104 2,329 1,495 4,Sl4 1,005 692 1,277 994 5,322 U. S. Government securities: Bonds 352,65s 13,406 178,234 24,419 24,615 6,175 4,206 52,034 7,900 12,556 6,816 14,775 13,522 Treasury notes 165,422 S,l64 72,195 13,430 15,735 3,9^8 2,608 19,452 4,730 3,152 4,310 3,053 8,645 Certificates and bills 942,323 44,525 463,519 73,756 86,4lS 21,684 14,325 106,829 25,973 17,307 23,684 16,768 47,475 Total U.S.Govt, securities 1,466,403 66,155 719,948 111,605 126,768 31,807 21,139 175,315 38,603 33,015 34,810 3^,596 69,642 Other securities 5.023 - 3,320 1,675 - — - - - 28 Total bills and securities 1,977,012 97,500 835,340 176,515 183,573 57,810 52,975 210,771 52,24l 46,059 61,733 46,971 154,919 Due from foreign banks 4,629 374 1,629 507 474 182 174 660 20 12 ' 136 131 324 F. E. notes of other banks 14,733 297 4,540 361 891 999 660 1,857 1,353 351 1,309 262 1,823 Uncollected items 393,311 45,215 111,930 35,712 39,899 29,39^ 9,753 46,674 16,154 7,188 19,734 12,423 19,185 Bank premises 52,024 3,336 14,817 2,873 7,966 3,612 2,489 7,327 3,461 1,334 3,649 1,737 4,433 All other resources 38,457 1,733 19,192 853 1,673 4,121 3,684 1,439 1,311 1,339 1,103 1,319 64o TOTAL RESOURCES 5,621,226 415,349 1,853,333 451,240 524,226 129,211 192,251 977,005 124,403 135,493 133,999 113,162 429,753 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOTJBCES A^ID LIABILITIES OF THE F S W, RESERVE BA^CS OF l.(AY IS, I932 L I A B I L I TI (In thousands of dollars) B-782c Total Boston Few York Phila. CI eve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.3.notes in actual circulation - » 1 07 191,5°7 5°5>9°0 248,111 291,623 91,543 11^,267 551,260 90,124 73,432 Deposits: so,5S8 35,349 222,752 Eetiber bank - reserve account 2,192,403 l4l,Sl6 1,027,272 119,591 l4l,302 Government 49,492 46,595 309,946 55,797 41,530 69,293 43,977 145,287 26,429 282 9,331 345 1,133 Foreign bank 732 1,550 3,777 2,720 1,100 698 1,485 2,776 45,57s 3,442 15,053 4,665 4,574 Other deposits 1,312 1,676 6,069 1,535 996 1,313 1,26s 3,125 25,125 4i 13,226 166 2,539 112 191 437 364 339 63 2,285 4,862 Total deposits 2,239,535 145,531 1,064,332 125,267 150,04c 52,l4s 50,012 320,229 60,966 43,965 71,372 49,015 156,050 Deferred availability items 337,063 45,571 107,30s 33,142 35,410 Capital paid in 28,231 9,663 45,793 17,404 7,205 19,016 14,642 20,125 154,734 11,526 59,13'+ 16,231 14,21% SuiTlus 5,213 4,876 17,322 4,4s- 2,933 4,090 3,960 10,796 All other liabilities 259,421 20,039 75,077 26,456 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 32,371 1,065 10,452 2,003 2,945 1,13s 2,584 3,930 1,401 1,590 809 2,072 2,323 TOTAL LIABILITIES 5'6S ' kS6 U7^'if9 1 , S? ^33 r ! ' ?0 5^ ' ?S6 1S9'311 152.g5i 977,006 154,403 135,493 183,999 113! 162 429[753 H Co es n e t r in ve g e r n a t t i l o ia b (p i e l r ity ce o n n t) bills -ur- 64.4 77.4 . 53.77 r, bl.8 f, 64 ^ .9 6 6 2 2 . . 8 g 71.5 79.8 69.7 65.2 61.9 54.9 63.9 chased for foreign correspondents 239,943 18,622 7^,79; 25,233 24,743 9,S01 9,066 32,834 5,576 5,391 7,106 6,361 16,907 FEDERAL RESERVE rOTE STATEMENT Federal reserve notes: H Is e s ld u e " d by to Fe F d . e R r . a b l a r n e k s e b r y ve F. b E a . n a k g ent 2,7 2 6 0 2 4 , , 6 56 7 6 3 2 IS 09 ,3 ,9 5 2 3 0 6 6 2 0 6 , , 2 2 3 1 0 0 1 2 2 6 , 0 3 ,4 36 47 1 3 1 0 , 3 9 , 0 5 6 3 4 3 7 5 , , 2 5 7 1 0 3 1 1 7 3 , 2 1 , 1 3 0 7 7 28 5 .5 7 0 9 5 , 771 9 3 4 ,5 ,0 92 1 6 3 7 , 6 0 , 0 4 7 3 9 8 7 5 ,5 ,4 94 8 2 4 4 0 , , 4 2 1 6 3 2 2 2 9 5 . 2 6 , 5 4 0 0 2 In actual circulation Collateral held by agent as se- 2,558,107 191,567 565,9o0 245,111 291,62s 91,543 115,267 551,266 90,124 73,432 50,538 35,549 222,752 curity for notes issued to bank Gold and gold certificates 915,160 47,010 442,965 76,140 71,970 12,420 U E G . l o S i ld g . i f b G u l n e o d v p - ' a t F p . e s R r e . c B u o r a i rd ti es 1,2 4 1 6 4 6 2 8 5 , , , 5 3 5 9 0 4 0 0 4 1 2 4 5 0 ,9 ,6 34 1 7 1 6 0 2 4 0 5 , , , 0 7 0 1 0 0 9 0 0 5 1 1 9 5 0 , , 6 9 0 , 6 3 0 6 0 60 3 5 15 3 0 0 , , 5 0 ,5 1 0 6 0 00 2 7 5 4 , 5 0 , , 5 0 0 0 7 5 6 0 3 1 7 0 9 3 , , , 0 0 9 3 0 7 2 0 5 4 1 2 3 2 5 2 3 ,0 , , 3 0 45 9 0 5 0 1 6 1 2 1 5 , , , 0 4 6 0 7 2 0 1 5 4 1 1 5 3 1 , , , 1 7 9 2 0 1 0 0 0 5 2 1 5 2 0 , , , 5 3 2 2 0 8 3 0 0 1 1 1 1 2 2 , , , 2 8 2 6 0 6 7 0 0 78 , 7 1 8 0 6 3 1 , 5 0 , 7 00 6 3 10,000 - 5,000 6,300 4,000 4,000 Total collateral 2,791,594 216,611 632,634 260,466 305,986 99,046 133,007 533,440 94,096 77,030 92,603 40,327 256,59s MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES rotal Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 91 days to Over 6 months 6 months B B i i l l l l s s b d o is u c g o h u t n i t n ed or)en market 4 4 6 0 4 , , 6 9 4 4 3 3 33 5 1 , , 0 1 4 7 2 6 3 7 1 , , 6 6 0 4 0 4 4 12 9 , , 3 9 3 3 0 2 " 23 1 ,6 1 6 , 5 9 31 19,2 2 7 4 2 0 4,254 Certificates and bills 942,323 51,950 40,550 112,050 Municipal warrants 159,525 316,059 232,159 5,023 3,819 1,031 110 28 Digitized for FRASER 35 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis