H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication 3-792 Friday morning, May 27; Federal Reserve Board not earlier. May 26, 1932. COFDITIOF OF FEDERAL RESERVE BA'TXS The daily average volume of Federal reserve "bank credit outstanding during the week ending May 25 as reported by the Federal reserve banks was $2,005,000,000, an increase of $61,000,000 compared with preceding week and $1,115,000,000 compared with the corresponding week in 1931• On May 25 total reserve bank crcdit amounted to &2,048,000,000, an increase of $60,000,000 for the week. This increase corresponds with an increase of $22,000,000 in member bank reserve balances -and decreases of $6%,000,000 in monetary gold stock and §9,000,000 in Treasury currency,adjusted, offset in part by a decrease of $39. XK5,-X)0 in money in circulation. Holdings of discounted bills increased $6,000,000 at all Federal reserve banks, only minor changes occurring in the amounts held by the individual Federal reserve banks. The System's holdings of bills bought in open market declined $3,000,000, while holdings of United States bonds increased $16,000,000, of Treasury notes $1,000,000 and of Treasury certificates and bills $42,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending May 25, '1932, were as follows: Increase or decrease since May 25 May 18 May 27 1912 1932 1931 (in millions of dollars) Bills discounted 471 + 6 + 318 Bills bought 38 - 3 U» S. "G-overnnent securities 1,525 +59 + 927 Other reserve bank credit 13 - 3 + 3 TOTAL RESERVE BA25K CREDIT 2,048 +60 +1,162 Monetary gold stock 4,207 -67 - 588 Treasury currency adjusted 1,790 -9 + 3 Money in circulation 5,4io -39 + 776 Member bank reserve balances 2,214 +22 - 211 Unexpended capital funds, nonmember deposits, etc. 420 - 1 + 11 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, May 27,193?; not earlier. B-7f?9a RESOURCES AFD LIABILITIES 07 THE TWELVE FEDERAL RESER7E BAJ"rS COi-PI'^D (in thousands of dollars) May 25,1932 May 18,1932 May 27,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,113,407 1,792,364 2,177,750 Gold redemption fund with U.S. Treasury 40,368 32,514 36,95^ Gold held exclusively a/rain st F.R.notes 2,153,775 2,214,704 1,824,878 Gold settlement fund with F. R. Board . 362,593 370,787 579,154 Gold and gold certificates held by tanks 340,713 333,541 , 255,241 Total -old reserves 2,919,032 2,857,081 3,259,273 Reserves other than gold 203,123 207,131 173,241 Total reserves 3,122,155 3,064,212 3,432,514 '"on-reserve cas.i 76,136 72,905 70,730 Bills discounted: Sec. by U.S. Government obligations 190,16s 189,083 50,489 Other bills discounted 102,363 281,099 275,360 Total bills discounted . . .. 471,267 152,252 464,943 Bills bought in open market 38,373 40,643 124,501 U. S. Government securities: Bonds 374,784 352,658 59,085 Treasury notes 166,372 165,422 52,227 Certificates and bills 984,040 942,323 487,056 Total U.S. Government securities 1,525,196 1,466,4-03 593,363 Other securities 5,220 5,023 768 Total bills and securities . . 2,040,056 1,977,012 276,489 Due from foreign banks 4,644 4,629 699 F. R. notes of other banks 14,624 14,733 15,453 Uncollected items 337,924 393,311 451,313 Bank premises 58,024 58,084 53,520 All other resources 32,457 39,541 19,393 TOTAL RESOURCES 5,681,286 5,635,221 4,925,181 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,532,714 2,553,107 1,551,208 Deposits: Member bank - reserve account . . .. 2,214,384 2,192,403 2,424,670 Government 36,366 26,429 19,267 Foreign bank 40,706 45,572 7,396 Other deposits . 29,319 25,125 19,772 Total deposits 2,471,105 2,320,775 2,289,535 Deferred availability items 334,481 327,06s 442,526 Capital paid in , . 154,749 154,724 163,428 Surplus 259,421 259,421 274,63b All other liabilities . . .. 16,678 33,021 32,371 TOTAL LIABILITIES 5,681,286 5,635,221 4,925,121 Ratio of total reserves to deposit and F, R. note liabilities combined . . . 63.116 64.4$ 25.33 Contingent liability on bills purchased for foreign correspondents 216,402 239.9U5 331,570 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAMS ON MAY 25, 1932 R E S O U R C ES (In thousands of dollars) B-789b Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold with Federal reserve agents 2,113,407 167,627 530,882 170,780 204,470 49,200 68,000 557,795 71,405 41,820 53,080 23,485 174,863 Gold redemption fund with U.S.Treasury *10,568 —JLi522 10,151 4,434 4,972 2,439 3,1+51 2,818 1,697 1,750 2,234 956 3,867 Gold held exclusively against F. B. notes 2,153,775 169,226 541,033 175,214 209,44? 51,639 71,451 560,613 73,102 43,570 55,314 24,441 178,730 Gold settlement fund with F.R. Board 362,593 8,876 185,816 7,918 23,862 1,870 7,859 78,950 3,717 10,145 10,188 5,122 18,270 Gold and gold certif. held by "banks 340,713 17,356 200,431 10,455 17,704 6,268 7,843 28,369 11,108 2,842 11,087 4,231 23,019 Total gold reserves 2,857,081 195,458 927,280 193,587 251,008 59,777 87,153 667,932 87,927 56,557 76,589 33,794 220,019 Reserves other than gold 207,131 21,542 52,791 28.442 17,799 12.945 5,791 24,417 10,650 4,062 7,344 11,266 10,082 Total reserves 3,064,212 217,000 980,071 222,029 268,807 72,722 92,944 692,349 98,577 60,619 83,933 45,060 23(X*:101 Non-reserve cash 76,13& 6,006 21,999 3,085 3,623 3,771 5,630 13,063 4,340 2,119 2,280 3,969 6,251 Bills discounted: Secured by U.S. Govt, obligations 190,168 14,502 61,120 20,307 24,039 4,581 7,372 11,517 7,920 4,695 4,180 1,813 28,122 Other bills discounted 281,099 15,737 38,618 42,143 27,769 19,785 24,783 15,993 6,089 9,205 20,636 9,998 50,343 Total bills discounted 471,267 30,239 95,738 62,450 51,805 24,366 32,155 27,510 14,009 13,900 24,816 11,811 78,465 Bills --ght in oners market 2,344 12,716 3,283 3,104 2,364 1,423 4,6i4 1,005 632 391 98." 5,009 U. S. Government securities: Bonds 374,784 19,552 166,871 25,670 29,309 9,30s 8,376 54,022 8,515 15,231 9,206 l4,86o 13,754 Treasury notes 166,372 11,512 67,364 13,468 17,728 5,631 4,999 I9,6l4 4,849 4,6o6 5,343 2,938 8,320 Certificates and bills 984,040 65,556 418,225 77,003 101,359 32,194 25,57s 112,l4l 27,725 26,332 30,561 16,798 47,568 Total U.S.Govt, securities 1,525,196 96,730 652,460 116,l4l 143,396 47,133 41,953 185,777 4i,0S9 46,169 45,110 34,596 69 ,"642' Other securities 5,220 3,545 1,675 Total bills and securities 2,040,05$ 129,313 763,459 183,549 203,308 56,103 60,701 70,817 47,395 153,116 Due from foreign banks 4,644 375 1,63s 503 475 174 662 20 12 136 132 324 F. B. notes of other banks 14,624 . 339 4,213 298 354 985 1,045 1,616 11,,669933 316 1,424 243 1,588 Uncollected items 337,924 41,263 94,526 30,104 32,653 25,514 s,34o 4o,299 1133,,772244 6,512 16,755 10,523 17,396 Bank premises 52,054 3,336 14,817 2,573 7,°6< 3,612 2,439 7,827 3,461 1,834 3,649 1,787 4,433 All other resources 39,541 1,760 20,244 839 1,672 4,064 3,702 1,429 1,337 l,4oo 1,094 1,234 716 TOTAL RESOURCES 5,635,221 399,397 1,906,272 443,235 519,363 184,719 159,855 975.146 179,260 133,513 180,088 110,39s 413,925 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A^D LIABILITIES OF THE FEDERAL RESERVE BAMS OH HAY 25, 1932 L I A B I L I T I ES (In thousands of dollars) ' ^ •729c F.3.notes in actual circulation Dallas San. Fran, Deposits: 35,155 220,012 Member tank - reserve account a s i i ' ii 1 1 1 1 11 Government U5, 3I+6 133,939 Foreign tank 2,364 2,423 Other deposits 1,142 2,814 Total deposits 1.00S 5,173 Deferred availability items 1 S H 1 1 I I 1 11 49,850 144,349 Capital paid in 11,737 18,669 .Surplus • 3,960 10,792 All other liabilities 7,624 17,707 2,062 2,396 TOTAL LIABILITIES 5,°35,22]. 399,397 1,906,272 443,255 519,363 104,719 189,355 975,146 179,260 133,513 isc,08 413,925 Reserve ratio (per cent) 63.1 66.7 110.39S Contingent liability on bills pur 58.6 60.2 60.? 51.2 5 b.g 79.1 66.6 52.1 55 . s 53.0 63.2 chased for foreign correspondents 216,402 16,770 67,680 22,728 22,28b 8,826 S,l64 29,56s 6,399 6,178 15,225 7,723 4,855 FEDERAL RESERVE 1T0TE STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.agent 2,758,223 208,860 626,818 259,372 303,369 97,394 132,041 58I,R84 Held by Federal reserve bank 225,509 18,405 93,406 76,085 87,829 40,422 251,043 70,532 13,739 12,773 8,310 17,309 32,631 3,242 3,742 7,926 5,267 31,031 In actual circulation 2,532,714 190,4^% Collateral held by agent as se- 556,286 245,633 290,596 89,084 114,732 548,951 89,564 l2 t 3HTJ%903 35,155 220,012 curity for notes issued to bank Gold and gold certificates 880,812 47,010 IS E if if 11 i:i i11 |g e$ Gold fund - F. R. Board 1,232,595 120,'617 13,460 83,100 Eligible paper 469,274 30,212 10,025 91,763 U. S. Gov't, securities 196,400 13,000 11,628 76,255 ——50,00-J 23,000 33,000 - 9,000 21,900 14,000 Total collateral 210,339 5,500 2,779,081 631,976 260,150 306,097 97,641 132,845 585,484 93,586 77^218 "911454 40,673 251,118 MAiUSITY DISTRIBUTION OF BILLS AHD SHORT TERM SECURITIES Total Within 15 days 91 days to l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months Bills discounted 6 months 471,267 334,792 Bills bougnt in open market 32,373 6,054 3 10 2 , , 0 0 9 74 2 5 10 0 , , 0 1 9 7 5 2 1 2 1 9 , , 8 4 9 6 2 5 20,546 4,218 Certificates and bills 984,040 54,500 152,025 240 Digiti M zed u f n or i F c R ip AS a E l R w arrants 5,220 3,656 3 1 9 , , 4 5 1 5 9 0 110 127,816 313,490 236,659 http://fraser.stlouisfed.org/ 35 Federal Reserve Bank of St. Louis