H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-SOl Friday morning, July 1; Federal Reserve Board not earlier. June 30, 1932. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending June 29, as reported by the Federal reserve banks, was i i ' l i L ' S S' 821 lncrease of $59,000,000 compared with the preceding week and of $1,400,000,000,compared with the corresponding week in 1931. nf res®rve bank cre4it amounted to $2,346,000,000, an increase *ikh nAn nAn ? W * increase corresponds with an increase of $5144,000,000 in money in circulation, offset in part by decreases of $32,000,000 m member bank reserve balances, and $9,000,000 in unexpended capital funds, nonw I? nS°mnS' etClVand in"eases of $41,000,000 in Treasury currency, adjusted, ana $3,00 .,,000 in monetary gold stock, • Holdings of discounted bills increased $6,000,000 at the Federal Reserve Bank <fcl/mn nnn' f1* <*ecr®ased $13,000,000 at San Francisco, $5,000,000 at Atlanta and $18,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $10,000,000, of United States Treasury notes $43,000,000, ll m nT certificates and bills $22,000,000, and of United States bonds ipO ,UUU,0u0 e . Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending June 29, I932, were as follows: Increase or decrease since June 29 June 22 July 1 1932 19)2 1931 (In millions of dollars) Bills discounted 470 - 18 + 320 Bills bought 64 + 10 - 39 U". S. IG-ovcrnnent 'securities 1,801 + 71 +1,138 Other reserve bank credit 11 - 5 - 22 TOTAL RESERVE BANK CREDIT 2,346 + 58 +1,396 Monetary gold stock 3,-920 + 3 -1,036 Treasury currency adjusted 1,811 + 4i + 46 Money in circulation 5,649 + 144 + 808 Member bank reserve balances 2,034 - 32 - 355 Unexpended capital funds,nonmember deposits,etc. 394 - 9 - 47 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 1,1932; not earlier. B-SOla RESOURCES Aim LIABILITIES OF THE TWELVE FEDERAL RESERVE BATES C0M3IOTD (in thousands of dollars) Juno 29,1932 June 22,1932 July 1, 1931 R E S O U R C ES Gold with Federal reserve agents . . .. 1,915,617 1,599,307 1, ,933,564 Gold redemption fund with U.S.Treasury . 59,795 52,156 30,167 Gold held exclusively against F.R.notes 1,978,415 1,951,493 1, ,963,731 Gold settlement fund with F. R. Board . 265,672 270,216 514,492 Gold and gold certificates held by bnnlcs 335»287 340,505 933,515 Total KOId reserves 2,579,374 2,562,517 3i ,412,041 Reserves other than gold 202,567 203,516 167,257 Total reserves . . . 2,7o'l,94l 2,766,033 3, ,579,293 Non-reserve cash 69,975 72,070 65,011 Bills discounted: Sec. by U.S. Government obligations . IS2,693 196,563 46,395 Other bills discounted ?;'7,135 291,643 103,805 Total bills discounted . . . 4o9,o25 458,206 150,200 Bills bought in open market 63,519 53,715 103,341 U. S. Government securities: Bonds 4x4,532 429,185 188,195 Treasury notes 267,953 224,57b 60,741 Certificates and bills 1,095,4^6 1,075,5)10 4:4,263 Total U.S.Government securities 1 £00,971 1,729,701 663,399 Other securities 5,944 5,716 10,601 Total bills and securities 2,340,262 Due from foreign banks 3,655 F. R. notes of other banks 14,768 Uncollected items , . 325,552 Bank premises 55,055 All other resources 45,205 TOTAL RESOURCES 5,642,44] L I A B I L I T I ES F. R. notes in actual circulation . . . 2,755,564 Deposits: Member bank - reserve account . . .. 2,033,697 Government . . . .. 25,331 Foreign bank 5,396 Other deposits 3^*937 Total deposits . . .. 2,107,361 Deferred availability items 326,315 Capital paid in 154,516 Surplus 259,421 All other liabilities 30,163 TOTAL LIABILITIES 5,642,443 *5,555,153 5,206,496 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 57.2$ 57.5$ 54.4$ Contingent liability on bills purchased for foreign correspondents 98,163 101,465 335,33*4 OJ Kr r— •ifj 1—I 927,5^1 3,64s 1,426 13,601 14.942 *354,342 537,070 58,082 55,733 43,03b 2d,425 *5,588,153 5, ,206,49b 2,615,932 1, ,733,396 2,066,092 2,359,211 54,351 41,182 17,556 35,625 34,893 34,830 2,172,892 2,500,848 *347,596 511,315 154,806 168,170 259,421 274,636 37,506 12,631 •Revised. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BA1ZS OH JUKE 29, 1932 R E S O U R C ES (In thousands of dollars) B-801b Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans. Cy. Dallas San Fran. Gold with Federal reserve agents 1,913,617 164,127 415,572 147,200 173,970 45,700 56,50° 600,595 57,570 33,105 46,630 28,235 143,763 Gold redemption fund with U.S.Treasury 59,793 2.162 13,856 6,276 6,245 2,372 3,6l4 10,190 2,304 2,113 2,534 914 7,213 Gold held exclusively against F. R. notes 1,973,415 166,259 429,423 153,476 150,215 43,072 60,114 610,755 59,874 40,223 49,214 29,749 150,976 Gold settlement fund VRITH F.R. Board 265,672 9,436 72,342 3,021 25,354 4,254 5,296 73,072 10,667 9,990 13,547 6,697 31,936 Gold and gold certif. held by tanks 335,237 16,022 203,644 10,145 17,962 6,502 5,276 39,204 5,133 3,125 11,063 4,163 18,983 Total gold reserves 2,579,374 191,307 705,414 166,642 223,561 53,355 73,686 714,061 75,674 53,335 73,524 4o,6l4 201,895 Reserves other than gold 202,567 20,541 52,345 30,953 15,230 11,063 5,932 24,337 9,347 3,764 6,471 9,615 9,464 Total reserves 2,731,941 212,343 757,759 197,595 241,791 69,926 79,615 735,395 35,521 57,102 30,295 50,229 211,359 Fon-reserve cash 69,975 5,452 17,631 3,114 3,565 3,352 5,359 14,190 3,671 2,l4l 2,110 3,661 ' 5,699 Bills discounted: Secured by U.S.Govt, obligations 132,693 11,936 66,450 23,163 13,466 5,429 5,772 10,973 7,450 1,017 1,501 1,297 29,159 Other bills discounted 237,135 15,712 42,226 44,379 25,204 20,462 22,032 2 3 ,M 4,512 9,233 13,302 10,336 51,071 Total bills discounted 469,323 27,695 103,676 67,542 43,670 25,591 27,504 34,034 11,962 10,305 20,303 11,633 30,260 Bills bought in open market 63,519 4,352 11,539 3,4l6 6,232 3,232 2,033 20,255 1,005 632 591 930 5,349 U. S. Government securities: Bonds 434,532 20,527 1134,454 29,966 39,450 9,736 11,901 60, SA6 13,257 16,355 11,357 14,047 22,026 Treasury notes 267,933 14,930 96,053 20,010 26,433 7,334 8,030 50,362 9,635 7,004 5,500 3,049 16,593 Certificates and bills 1,093,456 71,222 414,033 32,022 103,647 30,063 32,913 176,122 39,493 28,554 34,559 12,500 60,023 Total U.S.Govt, securities 1,300,971 106,729 694,545 131,995 174,560 47,133 5 2,544 287,350 62,415 52,413 54,716 29,596 106,642 Other securities 5,944 - 4,292 1,623 - - - - - 29 - - - Total bills and securities 2,340,262 135,779 319,102 204,575 224,462 76,306 52,731 341,722 75,352 63,379 75,910 42,159 195,751 Due from foreign banks 3,655 295 1,251 4oo 374 143 137 521 20 12 107 io4 256 F. R. notes of other banks 14,76s , 353 4,639 321 943 1,245 722 2,054 1,212 516 590 251 1,592 Uncollected items 328,552 43,537 55,026 23,529 32,324 25,745 3,115 35,344 12,164 5,112 17,272 9,29b 16,555 Bank premises 53,035 3,336 14,517 2,574 7,966 3,612 2,439 7,327 3,461 1,834 3,649 1,787 4,433 All other resources 45,205 1,888 24,979 782 1.339 3,532 3,634. 2,565 L,44O 1,494 915 1,218 1,119 TOTAL RESOURCES 5,642,443 405,933 1,723,234 433,194 512,764 134,199 132,3053,145,121 132,371 134,590 181,143 108,735 436,794 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS Oil -JUKE 29, I932 (In thousands of dollars) / B-gOlc Total Boston tfew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,755,864 198,023 578,664 249,250 287,301 87,044 111,376 721,335 92,666 Deposits: 75,107 82,695 35,^66 236,337 G M o em ve b r e n r m b e a n n t k - reserve account 2,033,697 129,447 871,743 114,524 i4i,664 50,331 44,241 320,808 59,525 39,701 68,136 47,747 145,830 28,331 1,233 Foreign bank 8,396 631 17,078 729 2,780 3,172 176 849 137 951 135 965 - 126 Other deposits 36,937 146 2,802 855 838 332 307 1,112 290 183 24i 232 573 22,855 73 3,156 83 4o6 3,800 742 206 95 273 5.102 Total deposits 2,107,361 131,457 914,478 116,181 148,438 53,918 45,130 326,569 60,694 4l,o4i 68,607 49,217 151,631 D C e a f p e i r t r al e d p a ai v d a i i l n a bility items 1 3 5 2 4 6, , 8 8 1 1 8 6 1 4 1 3, , 6 5 9 1 7 8 5 87 9 , , 1 1 7 8 5 5 2 1 7 6 , , 0 2 0 4 6 3 1 3 4 1 , , 2 8 6 2 6 8 25,281 8,271 37,978 13,639 7,541 16,781 9,891 17,730 Surplus 5,219 4,875 17,322 4,478 2,923 4,069 3,936 10,782 259,421 20,039 75,077 26,4S6 27,640 11,483 10,449 38,411 10,025 6,356 All other liabilities 8,124 7,624 17,707 38,163 1.254 13,655 2,428 3.291 1,254 2,704 4,506 1.369 1.622 872 2,601 2.607 TOTAL LIABILITIES 5,642,443 405,988 1,728,234 438,194 512,764 134,199 182,805^46,121 182,871 134,590 181,i4s 10s]735 436,794 Reserve ratio (per cent) Contingent liability on bills pur- 5i.t 64.4 50.7 54.0 5d.'D 49.6 50.9 70.5 55.8 49.2 53.1 59.3 54.5 chased for foreign correspondents 98,163 7,769 29,263 10,529 10,325 4,089 3,782 13,698 3,578 2,249 2,965 2,862 7,054 FEDERAL RESERVE FOT! STATEMENT Federal reserve notes: Issued to F.R.bank by F.R.Agent 2,990,511 214,4o6 Held by Federal reserve bank 234,647 16,383 643,776 259,666 296,881 92,366 129,382 775,511 100,514 77,776 89,875 40„820 269,538 65,112 9,816 9,580 5,322 IS,006 54,176 7,848 2,669 7,180 5,354 33,201 In actual circulation 2,755,864 198,023 578,664 249,850 287,301 87,044 111,376 721,335 92,666 75.107 82^695 35,*466 236,'337 Collateral held by agent as security for notes issued to bank Gold and gold certificates 946,502 47,010 355,572 73,920 71,970 13,220 13,500 228,395 20,770 12,805 9,880 13,460 86,000 Gold fund - F. R. Board 972,115 117,117 60,000 73,280 102,000 32,480 43,000 372,200 Eligible paper 36,800 25,300 36,800 15,375 57,763 489,285 29,554 107,439 67,506 46,64o 27,867 28,225 49,944 U. S. Gov't, securities 10,983 9,820 19,938 11,603 79,766 606.700 21.400 132,000 45,000 80.000 19,000 45,000 130.500 32,000 30,300 24,000 500 47,000 Total collateral 3,014,602 215,081 655,011 259,706 300,610 92,567 129,725 781,039 100,553 78,225 90,61s 40,938 270,529 MATURITY DISTRIBUTION OF BILLS Aim SHORT TERM SECURITIES To tal Within 15 days 16 to 30 days 31 to 60 days 61 to 90 da^e S\ Over 6 months Bills discounted 469,828 326,127 Bills bought in open market 31,458 51,548 36,725 23,188 782 63,519 29,o4i 2,545 2,945 28,975 13 Certificates and bills 1,093,456 65,287 Municipal warrants 83,625 191,749 293,313 91,011 373,471 5,944 4,493 1,387 19 - ' 45 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis