H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATE;OTP F)F. THE PRESS Released, for publication 3-SOI Friday morning, June 24; Federal Reserve Board not earlier. June 23, 1932 CONDITION OF FED SEAL RESERVE BA3KS The daily average volume of Federal reserve bank credit outstanding during the week ending June 22, as reported by the Federal reserve banks, was $2,295)000,000, an increase of $50,000,000 compared with the preceding week and of $1,339,000,000 compared with the corresponding wee1' in 1931. On June 22 total reserve bank credit amounted to $2,288,000,000, an increase of $18,000,000 for the week. This increase corresponds with an increase of $38,000,000 in money in circulation and a decrease of $62,000,000 in Treasury currency, adjusted, offset in part by an increase of $8,000,000 in monetary gold stock and decreases of $35*000,000 in member bank reserve balances and $40,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $4,000,000 at the Federal Reserve Bank of Chicago and $3,000,000 at San Francisco, and decreased $14,000,000 at Cleveland, $3,000,000 each at Kansas City and Dallas and $8,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market decreased $12,000,000, while holdings of United States Treasury notes increased $30,000,000 and of Treasury certificates and bills $8,000,000. Changes in the. amount of reserve bank credit outstanding and in related items during the week and the year ending June 22, 1932, wore as follows: Increase or decrease since June 22 June 15 June 24 1932 1932 1931 (in millions of dollars) Bills discounted 488 - 8 + 290 Bills bou'iit 54 -12 - 52 U. S. Government scctiritice 1,730 +38 +1,111 Other reserve bank credit 16 - 22 TOTAL RESERVE 3A1TK CREDIT 2,288 +18 +1,328 Monetary gold stock 3,917 + 8 - 99® Treasury currency adjusted 1,770 -62 + 35 Money in circulation 5,505 +38 + 772 Member bank reserve balances 2,066 ~35 - 391 Unexpended capital funds, nonmember deposits,etc. 403 -4o - 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, June 24,1932; not earlier, B-801a RESOURCES AKD LIABILITIES OF THE T^TELVE FEDERAL RESERVE BAHS COMBINED (In thousands of dollars) June 22, 1932 June 15,1932 June 24,1931 R E S O U R C ES Gold with Federal reserve agents . . .» 1,299,307 1,897,307 1,903,284 Gold redemption fund with U.S. Treasury 52,186 48,915 30,166 Gold held' exclusively against F.R.notes 1,951,493 1,946,222 1,933,450 Gold settlement fund with F. R. Board . 270,216 283,224 475,273 Gold and gold certificates held by banks 340,808 331,749 973,861 Total sold reserves 2,562,517 2,561,195 3,332,589 Reserves other than gold 203,516 205,280 175,059 Total reserves . . . .. 2,766,033 2,766,475 3,557,648 ITon-reserve cash 72,070 71,143 74,422 Bills discounted: 86,006 Sec. "by U. S. Government obligations . 196,563 202,225 Other bills discounted . 291,643 294,014 111,672 Total bills discounted . . .. 482,206 496,239 197,67s Bills bought in open market 65,661 106,390 5533,,771188 U. S. Government securities: Bonds 429,185 429,056 136,840 Treasury notes 224,676 194,997 53,332 Certificates and bills 1,075,340 1,068,154 427,781 Total U.S.Government securities 1,729,701 1,692,207 615,503 Other securities 5,611 5,063 5,716 Foreign loans on gold 16,700 - Total bills and securities . . 2,277,341 2,259,718 947,334 Due from foreign banks 3,645 3,645 2,699 F.R. notes of other banks 13,601 15,500 17,464 Uncollected items 353 _70e-viy»u 418,230 446,117 1 Bank premises 58,OS2 58 ,083 58,782 All other resources 43,036 42,316 22,702 TOTAL RESOURCES 5,b35,HO 5,127,168 55,,5588&&TT55MM^^ L I A B I L I T I ES F. R. notes in actual circulation . . . 2,615,932 2,575,799 1,674,139 Deposits: Member bank - reserve account . . .. 2,066,092 22,,110011,,224433 22,,445577,,447744 Government . 54,351 2,695 59,459 60,122 17,556 19,9:'7 Other deposits . . . . .. 34,393 34,368 19,913 Total deposits 2,172,892 2,198,428 2,556,838 Deferred availability, items 3 4^_^L_ 411,713 435,735 Capital paid in 154,806 154,809 168,244 Surolus 259,421 259,421 274,636 All other liabilities 37,506 34,940 17,476 TOTAL LIABILITIES 5,536,511- 5,635,110 5,127,I6S Ratio of total reserves to denosit and F. R. note liabilities combined . . . s4.ifo 57. Sf, Contingent liability on bills purchased for foreign correspondents . . . .. 101,465 102,212 336677,,770000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MD LIABILITIES OF TEE FEDERAL RESERVE BAMS OH JOSE 22, 1932 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal serve agents 1,899,307 178,127 420,572 153,000 177,970 4Q,OOO 55,000 570,095 53,260 39,605 50,680 26,235 125,763 Gold redemption fund with U. S. Treasury 52,186 2,249 12,445 5.788 6,281 2,270 3,911 4,446 2.339 2,059 2.559 921 6.916 Gold held exclusively against F. R. notes 1,951,493 180,376 433,017 158,788 184,251 51,270 58,911 574,541 55,599 41,664 53,239 27,158 132,679 Gold settlement fund with 7.R.Board 270,216 14,384 101,193 4,290 23,383 9,270 5,976 62,252 4,950 9,437 13,296 4,953 16,832 Gold and gold certif. held by banks 340.808 15.707 201,3.97—10,077 ILL.821 6,,4li g.240 26.l44 7.145 1.171 n .4o4 4.181 ?g gnfi Total gold reserves 2,562,517 210,463 735,407 173,155 225,463 66,951 73,127 662,937 67,294 54,472 77,939 36,292 178,417 Reserves other than gold 203,516 20,54s 53,075 30,397 18,235 n,239 5,922 24,305 9,8ig 3,903 6,464 9,939 9,673 Total reserves 2,766,033 231,011 788,482 203,552 243,69s 73,190 79,049 687,240 77,712 58,375 84,403 46,231 132,090 Don-reserve cash 72,070 5,512 20,050& 3,109 3,444 3,491 5,631 12,969 3,799 2,077 2,351 3,593 6,036 Bills discounted: Secured by V e S -G-ovt s obligations 196,563 13,20s 64,724 22,972 20,909 4,912 8,029 11,473 7,843 1,251 2,172 1,759 37,311 Other bills discounted 291,643 15,513 38,605 44,477 24,436 20,215 25,050 22,636 5,013 9,425 19,770 10,751 55.672 Total bills discounted 438,206 23,721 103,409 67,449 45,345 25,127 33,079 34,109 12,856 10,676 21,942 12,510 92,933 Bills bought in open market 53,718 4,352 11,304 5,361 6,232 3,990 2,550 7,843 2,237 632 891 924 7,402 U. S. Government securities: Bonds 429,185 20,526 185,980 29,838 3^,912 9,737 10,808 60,686 13,288 16,994 10,343 14,047 22,026 Treasury notes 224,676 13,595 83,o02 18 066 23,864 6,653 7,231 26,717 8,741 6,316 7,026 2,766 15,055 Certificates and bills 1,075,840 62,60; J447,349 83,474 110,2o4 30,745 53,655 123,442 40.386 gq.lHg 32,447 12,783 69.56l Total U»S Govt, securities 1,729,701 96,729 a 721,931 131,378 169,040 47,133 51,724 210,845 62,415 52,45s 49,810 29,596 106,642 Other securities 5,716 4,073 1,623 - - - - 20 - ,277,341 129,302 34c,717 205,311 220,617 76,250 87,353 252,797 77,508 63,736 72,643 43,030 207 027 Due from foreign barks 3 , °4s 295 1,276 4oo 374 l4s 137 520 20 12 107 104^' 255 T. R. notes of other banks 13,601' 314 3,854 283 639 372 716 1,936 333 381 l,4l6 284 1,973 Uncollected items 352,700 39,619 94,045 32,173 35,86s 26,135 7»9U 45,232 14,536 7,206 19,211 11,353 1S 6O6 Bank premises 53,032 3,336 T All other resources 43,036 1,677 m 1 :1 ^ t -m ?•% )UIiv^b 5,586,-5^1; 4ll, $66 1,737,013 449,013 513,957 192,558 186,9351^010,334 179,64c 135,172 134,690 103,093 42f r ,-5-2j <1; "iXI, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A'TD LIABILITIES OF THE FEDERAL RESERVE BAHCS 0?T JUTTE 15, 1932 L I A B I L I T I ES (in thousands of dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,575,799 195,297 57^,175 24-7,239 287,949 83,324 112,921 560,206 90,519 74,510 si,34s 34,785 227,926 Deposits: Member bank - reserve account 2,101,243 136,521 912,267 122,953 143,323 61,210 47,087 319,371 57,669 41,747 71,464 42,716 144,415 Government 2,695 175 203 64 216 281 207 645 17 91 263 155 378 Foreign bank 60,122 4,621 19,143 6,262 6,i4i 2,432 2,250 8,147 2,123 1,338 1,763 1,702 4,195 Other deposits 3^,36? 376 22,725 176 3,522 146 415 46q 378 396 124 527 4,6i4 Total deposits 2,198,42s 141,693 95^,338 129,455 153,702 64,069 49,959 328,632 60,692 43,572 73,614 45,100 153,602 Deferred availability items 411,713 47,314 109,487 35,606 42,04? 32,450 9,735 49,942 18,837 7,564 20,315 I4,3b3 23,423 Capital paid in 154,809 11,521 59,182 16,228 14,267 5,205 4,876 17,309 4,479 2,923 4,069 3,961 10,789 Surolus 259,^21 20,039 75,077 26,486 27,640 11,483 10,449 33,4ii 10,025 6,356 8,124 7,624 17,707 All other liabilities 34,94o 1,133 ll,6os 2,225 3.1^7 1,225 2,672 4,208 1,352 1,581 66 2,403 2,515 TOTAL LIABILITIES 5,635,110 416,997 1,783,867 457,319 528,752 202,756 190,662 999,303 185,904 136,506 133,836 103,24i 435,962 Reserve ratio (per cent) 57.9 67.9 50.; 56.6 54.2 55.6 51.3 76.; 57.3 51.0 53.9 56.S 51.1 Contingent liability on bills purchased for foreign correspondents 102,212 7,769 33,311 10,529 10,325 4,089 3,753 13,69E 3,578 2,249 2,965 2,862 7,054 FEDERAL RESERVE FOTE STATEMEFT Federal reserve notes: Issued to F.B.bank by F.R.Agent 2,791,931 213,336 633,724 259,091 299,457 93,670 132,090 594,226 95,915 73,233 39,616 39,913 257,595 Held by Federal reserve baric 216,132 18,089 %5^9 11,352 11,518 5,346 19,169 33,420 5,396 3,723 3,268 5,133 29,669 In actual circulation 2.575,799 195,297 574,175 247,239 287,949 88,324 112,921 560,806 90,519 74,510 81,34s 34,755 227,926 Collateral held by agent as se curity for notes issued to bank Gold and gold certificates 831,3^2 47,010 358,947 7^,120 71,970 13,220 13,500 120,395 17,050 12,790 9,830 13,460 79,000 Gold fund - F. S. Board 1,065,965 126,617 59,000 83,580 101,500 40,280 44,500 439,000 40,500 23,300 40,800 11,625 49,763 Eligible paper 519,313 31,053 112,937 66,435 62,342 26,956 33,240 33,361 13,429 10,167 24,799 14,983 89,561 U. S. G-ov't. securities 401,700 9,300 113,000 35,000 65,000 13,500 42,000 14,000 25,000 26,900 16,000 42,000 Total collateral 2,818,320 213,980 643,884 259,185 300,812 93,956 l33,24o 606,756 95,979 72,657 91,^79 4o,o6s 260,324 MATURITY DISTRIBUTION OF BILLS A'TD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over o months 6 months Bills discounted 496,239 35%,211 36,911 44,680 36,272 23,245 920 Bills bought in or-en market 65,661 26,979 9,793 1,761 27,123 Certificates and bills l,06c,154 36,550 74,000 175,025 208,750 234,25 289,574 Municipal warrants 5,611 4,791 - 785 35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis