H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOE THE PRESS Released for publication B-801 Friday morning, July 15; Federal Reserve Board not earlier. July 14, 1932 CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve baric credit outstanding during the week ending July 13, as reported by the Federal reserve hanks, was $2,4l7,0'0,000, an increase of $40,000,000 compared with the preceding week and of $1,465,000,000 compared with the corresponding week in 1931. On July 13 total reserve "bank credit amounted to $2,417,000,000, an increase of $9,000,000 for the week. This increase corresponds with increases of $52,000,000 in member bank reserve balances and $2,000,000 in unexpended capital funds, nonmember deposits, etc,, and a decrease of $26,000,000 in Treasury currency, adjusted, offset in part by a decrease of $61,000,000 in money in circulation and an increase of $10,000,000 in. monetary gold stock. Holdings of bills discounted increased $9;000,000 at the Federal Reserve Bank of San Francisco, $4,000,000 at Atlanta, $3,000,000 at Dallas and $16,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market declined $15,000,000, of United States bonds $15,000,000 and of United States^ Treasury notes $9,000,000, while holdings of Treasury certificates and bills increased $44,000,000. Changes in the amount of reserve bank cjed^t outstanding and in related items during the week and the year ending July 13,/vrere'as follows: Increase or decrease since July 13 July 6 July 15 1932 1932 1931 (in millions of dollars) 516 + 16 + 354 Bills discounted 62 15 s Bills bought - 1,821 + 20 +1,143 U. S. Government securities Other reserve bank credit IB - 12 - 23 2,417 + 9 -t-1,466 TOTAL RESERVE BAM CREDIT Monetary gold stock 3,932 + 10 -1,027 Treasury currency adjusted 1,767 - 26 22 5,714 61 + 906 Money in circulation 2,015 + 52 - 421 Member bank reserve balances Unexpended capital funds,nonmember deposits,etc, 337 + 2 - 69 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 15,1932; not earlier. B-801a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) July 13,1932 July 6.1932 Jrely 15,1931 R E S O U R C ES Gold with Federal reserve agents 1,929,862 1,926,767 1,990,864 Gold redemption fund with U.S. Treasury . 62,864 61,256 29,321 Gold held exclusively against F.R.notes 1,992,726 1,988,023 2,020,185 Gold settlement fund with F. R. Board . . 260,356 250,643 464,413 Gold and gold certificates held by banks . 335,015 339,784 924,551 Total sold reserves 2,588,097 2,578,450 3,409,149 Reserves other than gold . . . . . . .. 199,705 189,359 171,989 Total reserves . . .. 2,737,802 2,767,809 3,531,138 Fon-reserve cash 76,907 67,836 7777,,113333 Bills discounted: Sec. by U.S.Government obligations . . . 201,921 190,828 59,997 Other bills discounted 313,649 308,998 101,806 Total bills discounted . . . 515,570 499,826 161,803 Bills bought in open market 6611,,662211 7777,,335533 7700,,440088 U. S. Government securities: Bonds , 413,927 429,004 185,781 Treasury notes . . .. 266,477 274,746 49,760 Certificates and bills . 1,140,728 1,097,315 442,312 Total U.S. Government securities 1,821,132 1,801,065 677,853 Other securities . 5,935 5,993 11,093 Total bills and securities . . 2,404,258 2,384,237 921,157 Due from foreign banks 2,709 2,655 3,725 F. R. notes of other banks . 15,150 13,082 .16,455 Uncollected items 376,672 391.960 566,211 Bank -premises 58,114 58,113 58,834 All other resources . .. 47,175 46,251 26,906 TOTAL RESOURCES 5,768,787 5,731,943 5,251,569 L I A B I L I T I ES F. R. notes in actual circulation . . .. 22,,883355,,775500 22,,886688,,116633 11,,771166,,662211 Deposits? Member bank - reserve account 2,OI4,6O4 1,962,989 2,435,530 Government . . . .. 59,150 40,336 17,501 Foreign bank 9,862 8,752 56,159 Other deposits 33,236 32,915 ' 30,662 Total deposits 2,116,852 2,044,992 2,539,852 Deferred availability items 367,055 370,623 540,433 Capital paid in . 154,757 154,788 166,844 Surplus 259,421 259,421 274,636 All other liabilities . . .. 34,952 33,956 13,183 TOTAL LIABILITIES 5,768,787 5,731,943 5,25l,5&9 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 56.3% 56.35$ 84.1$ Contingent liability on bills purchased for foreign correspondents 6s,541 73,775 289,851 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES Aim LIABILITIES OF THE FEDERAL RESERVE BAMS OiT JULY 13, 1932 R E S O U R C ES (In thousands of dollars) B-801b Total Boston Mew York Phila. Cleve. Rich. Atlanta. Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 1,929,862 172,127 426,952 148,600 174,970 44,800 48,000 602,895 60,110 40,o30 53,680 24,835 132,263 Gold redemption fund with U.S.Treasury 62,8o4 2,588 14,316 6,319 6,945 2,575 4,450 9,974 2.213 2.085 2,497 1,072 7,830 Gold held exclusively against F. R. notes 1,992,726 174,715 44l,268 154,919 131,915 47,375 52,450 612,869 62,323 42,715 56,177 25,907 140,093 Gold settlement fund with F.R. Board 260,356 13,543 95,794 6,620 28,495 9,398 .3,561 49,076 8,735 10,265 12,l4l 5,757 12,971 Gold and gold certif. held by banks 335,015 16,702 195,357 9,250 17,964 6,715 8,457 27,331 5,354 .. 3,197 10,780 3,873 29,485 Total gold reserves 2,588,097 204,960 736,419 170,789 228,374 63,48c 64,468 689,826 76,412 56,177 79,098 35,537 182,549 Reserves other than gold 199,705 20,966 54,462 31,762 17,760 9,473 5,475 24,873 8,890 3,373 4,816 8,769 9,086 Total reserves 2,787,802 225,926 790,881 202,551 246,134 72,961 69,943 714,699 85,302 59,550 83,914 44,306 191,635 Fon-reserve cash 76,907 5.976 21,625 3,038 3,643 3,847 5,334 14,526 3,856 2,048 2,180 3,933 6,851 Bills discounted: Secured by U.S.Govt, obligations 201,921 ll,5?5 63,043 24,792 19,731 5,285 10,542 12,945 7,552 2,339 3,725 3,311 3377,,ooii66 Other bills discounted 313,649 15,242 40,005 45,593 32,795 20,999 29,229 24,181 5,110 10,045 19,221 12,432 58,797 Total bills discounted 515,570 26,317 103,053 70,385 52,586 26,284 39,771 37,126 12,662 12,334 22,946 15,743 95,813 Bills bought in open market 61,621 3,086 2^,655 3,931 4,156 3,519 2,153 7,40b 1.489 985 1,536 1,391 5,309 U. S. Government securities: Bonds 413,927 20,101 135,755 30,681 35,756 9,624 10,644 40,145 13,470 17,075 11,564 14,229 2244,,668833 Treasury notes 266,477 15.457 101,112 21,452 28,122 7,569 8,284 35,078 10,202 7,424 9,037 3,327 19,413 Certificates and bills 1,140,723 82,970 408,913 84,865 111,251 29,940 32,754 194,534 40,358 29 417 35,765 13.165 76,796 Total U.S. Govt, securities 1,821,132 118,728 695,730 136,993 175,129 47,133 51,682 269,757 64,030 53,916 56,366 30,721 120,892 Other securities 5,935 - 4,345 1,539 - - - 51 - - - Total bills and securities 2,4o4,258 148,631 829,833 212,353 231,871 76,936 93,611 314,289 78,181 67,336 80,348 47,855 222,014 Due from foreign banks 2,709 211 1,003 286 263 106 99 372 18 11 77 75 183 F.R. notes of other banks 15,150 250 5,011 368 979 981 797 2,226 882 424 1.219 308 1,705 Uncollected items 376,672 44,724 100,077 33,729 33,179 29,506 9,902 43,230 15,541 8,272 20,533 12,350 20,579 Bank premises 58,114 3,336 14,817 2,901 7,966 3,612 2,489 7,825 3,461 1.835 3,649 1,737 4,433 All other resources 47,175 1,760 26,882 s4o i,4o4 3,638 3,662 2,633 1,347 1.564 391 1,251 1.243 TOTAL RESOURCES 5,768,787 430,814 1,790,129 456,566 530,444 191,587 135,8371^99,913 188,588 l4l,040 193,311 111,915 448,643 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THS FEDERAL RESERVE BASICS OF JULY 13, 1932 L I A B I L I T I ES (In thousands of dollars) 3-801c Total Boston 1-Tew York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans .Cy. Dallas San Fran. F.R.notes in actual circulation 2,535,750 203,202 597,258 256,733 294,965 08,492 112,999 720,256 97,546 79,043 90,366 37,307 252,073 Deposits: Member bank - reserve account 2,014,60U 139,896 902,731 116,797 143,257 50,568 43,822 271,495 55,423 41,442 67,808 44,840 136,425 Government 59,150 4,749 23,524 5,624 5,563 5,503 932 3,147 2,255 1,145 1,573 2,751 2,384 Foreign bank :9,862 769 3,037 1,043 1,023 405 375 1,357 354 223 294 283 699 Other deposits 33,236 170 22,148 81 3,264 115 556 1,252 319 288 150 50 4,343 Total deposits 2,116,852 145,534 951,440 123,545 153,107 56,691 45,685 277,251 58,851 43,098 69,825 47,924 143,851 Deferred availability items 367,055 44,518 94,738 3i,6o4 37,482 23,560 9,202 42,101 16,439 8,058 19,638 12,968 21,747 Capital paid in 154,757 11,516 59,179 16,217 14,264 5,201 4,876 17,330 4,471 2,923 4,071 3,927 10,782 Surplus 259,421 20,039 75,077 26,4g6 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 34,952 955 12,437 1,976 2,986 1,160 2,626 4,564 1,256 1,562 787 2,165 2,478 •TOTAL LIABILITIES 5,768,787 430,814 1,790,129 456,566 530,444 191,587 185,8371P99,913 188,588 l4l,o4o 193,311 111,915 448,643 Reserve ratio (per cent) 56.3 63.9 51.1 53.3 5^.9 50.3 44.1 71.6 54.5 48.8 52.2 52.0 48.4 Contingent liability on bills purchased for foreign correspondents 63,541 5,276 21,751 7,150 7,012 2,777 2,569 9,302 2,430 1,527 2,013 1,944 4,790 FEDERAL RESERVE 'TCTE STATEMENT Federal reserve notes: Issued to F.R."bank by F.R.Agent 3,073,262 226,872 664,217 263,700 307,712 94,340 131,514 760,298 105,252 82,340 99,255 42,856 288,906 Held by Federal reserve bank 237,512 18,670 66,959 11,962 12,747 5,848 18,515 4o,o42 3,706 3,297 8,389 5,549 36,828 In actual circulation 2,335,750 203,202 597,258 256,738 294,965 88,492 112,999 720,256 97,546 79,043 90,356 37,30?" 252,078 Collateral held by agent as security for notes issued to bank Gold and gold certificates 964,997 47,010 372,952 75,020 71,970 13, 170 13,500 239,595 20,710 12,630 9,380 12,2o0 76,000 Gold fund - F. R. Board 964,565 125,117 54,000 73,550 103,000 31, 630 34,500 363,000 39,400 28,000 43,300 12,575 56,263 Eligible paper 520,397 26,409 115,992 70,627 53,430 23, .566 39,297 40,119 12,436 12,253 23,032 16,162 31,969 U. S. Gov't, securities 639,900 23,400 123,000 50,000 30.000 21,500 45,000 123,000 33.900 30,100 26,000 2,000 77,000 Total collateral 3,090,159 226,936 065,944 269,227 303,450 91 366 132,297 766,014 106,446 82,923 102,762 42,997 291,232 MATURITY DISTRIBUTION OF BILLS AMD SHORT TERM SECURITIES 91 days to To tal Wi thin 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months Over 6 months Bills discounted 515,570 360, 319 34,475 55,700 42,977 21,039 460 Bills "bought ir open nark at 61,621 23, 002 5,552 11,670 16,397 DigiMt C ize e ud r nfo t ir i c F f iRp i A c aSl a Ew t R e a s r a ra nd n t b s ills ., 140,728 83, 625 79,150 194,042 305,361 93,267 382,253 http://fraser.stlouisfed.org/ 5,935 5, 733 157 35 10 Federal Reserve Bank of St. Louis