H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Released for publication B-SOl Friday morning, July 3; Federal Beserve Board not earlier. July 7, 1932. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending July 6, as reported by the Federal reserve banks, was $2,377,000,000, an increase of $23,000,000 compared with the preceding week and of $1,407,000,000 compared with the corresponding week in 1931. On July 6 total reserve bank credit amounted to $2,405,000,000, an increase of $62,000,000 for the week. This increase corresponds with an increase of $126,000,000 in money in circulation and a decrease of $10,000,000 in Treasury currency, adjusted, offset in part by decreases of &71,000,000 in member bank reserve balances and $9*000,000 in unexpended capital funds, nonmembcr deposits, etc., and an increase of $2,000,000 in monetary gold stock. Holdings of discounted bills declined $6,000,000 at the Federal Reserve Bank of lew York, and increased $10,000,000 at Cleveland, $8,000,000 at Atlanta, $7,000,000 at San Francisco and $30,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market increased $13,000,000 and of United States Treasury notes $7,000,000, while holdings of United States bonds decreased $6,000,000 and of Treasury certificates and bills $1,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending July 6, 1532, were as follows: Increase or decrease since July 6 June 29 July 8 1932 1932 1931 (in millions of dollars) Bills discounted 500 30 + 333 Bills bought 77 + 13 - 15 U. S. Government securities 1,801 +1,133 - Other reserve bank credit 30 + 19 8 TOTAL RESERVE BAHK CREDIT 2,408 + 62 +1,44a Monetary gold stock 3,922 + 2 -1,042 Treasury currency adjusted 1,793 IS 1 - Money in circulation 5,775 + 126 + 939 Member bank reserve balances 1,963 71 - 477 - Unexpended capital funds,nonmember deposits,etc. 325 9 - 57 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, July 8,193?; not earlier. B-SOla RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 6,1952 June 29,1932 July 8, 1931 R E S O U R C ES Gold with Federal reserve agents . . .. 1,926,767 1,918,6l7 1,964,764 Gold redemption fund with U.S. Treasury 61,256 59,798 29,6l6 Gold held exclusively against F.R.notes 1,988,023 1,978,415 1,994,330 Gold settlement fund with F. R. Board , 250,643 265,672 489,921 Gold and gold certificates held by banks 339,784 335» 287 943,6o4 Total gold reserves . . .. 2,578,450 2,579,374 3.427,905 Reserves other than gold 189,359 202,567 l64,042 Total reserves . . . .. 2,767,809 2,781,941 3,591,947 Non-reserve cash 67,836 69,975 68,713 Bills discounted: Sec. by U.S. Government obligations . 190,828 182,693 59,787 Other bills discounted 308,998 287,135 102,599 Total bills discounted . . 499,826 469,828 162,386 Bills bought in open market 77,353 63,519 91,788 U. S. Government securities: Bonds 429,004 434,532 183,393 Treasury notes 274,746 267,983 51,748 Certificates and bills 1,097,315 1,098,456 432,812 Total U.S.Government securities 1,801,065 1,800,971 667,953 Other securities 5,993 5,944 9,975 Total bills and securities . 2,384,237 2,340,262 932,102 Due from foreign banks 2,655 3,655 3,726 F. R. notes of other banks . . . . .. 13*082 l4,768 l4,201 Uncollected items 391*960 328,552 498,73£ Bank premises 5s'll3 58,085 58,834 All other resources 46^251 45,205 25,999 TOTAL RESOURCES 5,731,943 5,642,443 5,194,258 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,060,163 2,755,864 1,736,922 Deposits: Member bank - reserve account . . .. 1,962,989 2,033,697 2,439,578 Government 1+0,336 28,331 l6,0o0 Foreign bank 8,752 8,396 39,875 Other deposits 32,915 36,937 31,833 Total deposits 2,044,992 2,107,361 2,527,346 Deferred availability items 370,623 326,818 4-74,368 Capital paid in . 154,780 154,816 167,979 Surplus 259,421 259,421 274,636 All other liabilities 33,956 38,163 13,007 TOTAL LIABILITIES . . . 5,731,943 5,642,443 5,194,258 Ratio of total reserves to deposit and F. R. note liabilities combined . . . ^6.3$ 57.2$; 84.2$ Contingent liability on bills purchased for foreign correspondents . 73,775 98,163 302,020 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 6, I932 R E S 0 U R C Ei.S (in thousands of dollars) B-801b Total Boston ITew York Phila. Clove. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. &old with Federal reserve agents 1,926,767 176,627 424,572 149,100 173,970 44,500 52,500 595,595 59,870 39,805 49,680 29,285 131 263 Gold redemption fund with U.S.Treasury 61,256 2,654 13,779 6,271 6,636 2,716 3,706 10,076 2.292 2,093 2.518 887 7I628 Gold held exclusively against F. R. notes 1,988,023 179,281 438,351 155,371 180,606 47,216 56,206 605,671 62,162 41,39s 52,19s 30,172 138,891 Gold settlement fund with F.R. Board 250,643 17,028 60,268 8,514 27,548 10,746 6,787 47,692 10,352 12,838 15,004 6 1P4 27 672 -old and gold certif. held by banks 339,784 l ,4lO 209,777 8,546 17,919 6,60S 8,427 27,087 5.059 3,116 lojgQl 5^72 t lM 5 Total gold reserves 2,578,450 211,719 708,396 172,431 226,073 64,570 71,420 680,450 77,573 57,852 78,003 41,733 133,225 Reserves other than gold 189,359 19,332 50.552 30,845 17,804 9,563 4,990 22,534 8,594 2,937 4,650 g,4l0 9,l4g Total reserves 2,767,809 231,051 758,9^8 203,276 243,377 74,133 76,410 702,934 86,167 60,729 82,653 50,143 197,373 Eills^iscounted: ^7,8# 4,657 18,482 3,065 3,381 3,230 4,680 13,700 3,619 2,158 1,933 3,4?4 5.44? Secured by U.S.Govt, obligations 190,328 13,734 61,790 23,793 19,646 5,426 9,264 11,460 7,939 3,732 1994 2 244 29 701 Other bills discounted 308,998 14,831 41.092 44.644 34.103 21.018 26.672 23.314 *S.?64 Q.2R3 20.01.4 l oW Total bills discounted 499,826 23,615 102,882 68,442 53,749 26,444 35,936 34,774 13,203 13,o4o 22,008 13,238 37,495 Bills bought in open market 77,353 3,117 29,944 3,931 5,298 3,519 2,077 17,561 1,489 985 1,536 1,376 6,520 U. S. Government securities: v ®onds 429,004 20,154 182,938 30,072 35,061 9,552 10,564 60,929 13,372 16,865 11,143 14,200 24,154 & ,1:1% zlill 4HI) c : : = s %a Mils 1 7 ^7 |g:l?g « Total U.S.Govt, securities 1,301,065 112,729 692,380 134,993 173,029 47,133 51,676 267,205 64,030 53,256 54,716 30,721 119 192 Other securities 5,993 4,413 1,539 - - 4l - Total bills and securities 2,334,237 l44,46l 829,619 203,910 232,076 77,096 89,689 319,540 78,722 67,322 7S,26o 45,335 213,207 Due from foreign banks 2,655 211 950 286 268 106 98 372 13 11 11 R ig% 7 F.R. notes of other banks 13,082 210 3,823 303 621 716 579 2,722 1,156 373 1 221 248 1 10S Uncollected items 391,960 46,767 110,383 32,300 37,943 29,304 10,500 46,4l4 15,676 8,260 22,610 11,711 19^537 3.336 14,817 2,901 7,966 3,612 2,439 7,827 3,461 1,835 3,64 1,787 5 S 3 9 3 All other resources 46,251 1,911 25,982 656 1,350 3,592 3,631 2.760 1^ 64 l|532 *921 1I25O 1I2R2 TOTAL RESOURCES 5,73l,9u3 432,6i4 1,763,009 451,697 527,487 192,259 133,0761/396,319 190,133 142,330 191,324 114,028 442,537 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A1!D LIABILITIES OF THE FEDERAL RESERVE BANKS ON JULY 6, 1932 (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.R.notes in actual circulation 2,86s,163 210,733 613,511 257,134 293,57s 89,921 il4,4o6 727,870 97,139 80,720 89,270 38,350 255,531 Deposits: Member bank - reserve account 1,962,939 141,921 858,279 117,008 146,427 55,036 43,255 258,364 58,200 41,671 66,890 4s,145 127,793 Government 40,336 480 20,514 2,323 1,920 1,571 1,55s 3,350 1,919 754 1,29s 1,342 2,807 Foreign bank 2,752 637 3,103 863 847 335 310 1,123 293 135 243 235 578 Other deposits 32,915 131 22,232 74 3,30s 29 355 1,336 682 219 86 23 4,44o Total deposits 2,044,992 143,169 904,128 120,263 152,502 56,971 45,478 264,673 61,094 42,329 68,517 49,745 135,618 Deferred availability items 370,623 46,096 99,000 29,655 36,59s 27,564 10,273 44,073 16,211 7,861 20,553 12,184 20,555 Capital paid in 1^4,788 11,51s 59,125 16,217 14,266 5,216 4,376 17,329 4,471 2,923 4,068 3,937 10,732 Surplus 259,421 20,039 75,077 26,4s6 27,64o 11,433 10,449 33,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 33,956 1,059 12,108 1,937 2,903 1,134 2,594 3,963 1,243 l,64l 792 2,188 2,394 TOTAL LIABILITIES 5,731,9^-3 432,6l4 1,763,009 451,697 527,437 192,289 183,0761096,319 190,183 142,330 191,324 114,028 442,537 Reserve ratio (per cent) 50.0 55.3 50.0 53.9 54.7 505.53 4.97 5.34 .7 50.5 47.3 70.3 54.5 49.2 52.4 56.9 50.5 Contingent liability on bills purchased for foreign correspondents 73,775 5,670 23,495 7,634 7,535 2,934 2,760 9,996 2,611 l,64i 2,163 2,039 5,147 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.B.bank by F.E.Agent 3,093,935 228,865 679,364 267,231 303,713 94,354 131,262 776,101 104,162 82,787 98,199 42,990 234,377 Hfeld by Federal reserve bank 225,772 18,132 hh in na7 1A 17K )l ll£-Z 1 £ CnC nn •-t r\0-7 r^C-, no.-, 1, n\,r . J w . W , W . W iIn actual circulation 2,863,163 210,733 .613,511; 257,134 293,57s 39,921 n4,4o6 727,870 97,139 30,720 39,270 38,350 255,531 Collateral held by agent as security for notes issued to bank Gold and gold certificates 944,252 47,010 350,572 75,420 71,970 13,170 13,500 233,395 20,770 12,305 9,530 12,260 83,500 Gold fund - F. E. Board 982,515 129,617 74,000 73,680 102,000 31,330 39,000 362,200 39,100 27,000 39,800 17,025 47,763 Eligible paper 522,675 29,336 119,552 63,930 55,785 28,726 35,853 47,993 12,90s 12,858 22,297 13,555 74,879 U. S. Gov't, securities 682,000 23,400 151,000 50,000 30,000 21,500 45,000 140,500 31,500 30,600 28,000 500 30,000 Total collateral 229,363 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 91 -ays to c 6 months 0ver 6 months Bills discounted 499,826 347,952 31,666 56,940 41,029 21,764 475 Bills bought in open market 77,353 42,528 6,767 6,249 21,796 13 Certificates and bills 1,097,315 81,475 109,320 216,o4l 231,861 85,011 373,607 Municipal warrants 5,993 5,501 116 31 45 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis