H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, July 29; Federal Reserve Board, not earlier. July 28, 1932. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending July 27, as reported "by the Federal reserve "banks, was $2,434,000,000, a decrease of $4,000,000 compared with the preceding week and an increase of $1,496,000,000 compared with the corresponding week of 1931• On July 27 total reserve "bank credit amounted to $2,422,000,000, a decrease of $16,000,000 for the week. This decrease corresponds with a decrease of $45,000,000 in money in circulation and an increase of $3,000,000 in monetary gold stock, offset in part "by increases of $36,000,000 in member "bank reserve "balances and $3,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of "bills discounted decreased $10,000,000 at the Federal Reserve Bank of Chicago, $3,000,000 at Cleveland and $13,000,000 at all Federal reserve "banks. The System's holdings of "bills bought in open market declined $12,000,000, while holdings of Treasury certificates and "bills increased $5,000,000, Changes in the amount of reserve "bank credit outstanding and in related items during the week and the year ending July 27, 1932, were as follows: Increase or decrease since July 27 July 20 July 29 1932 1932 1931 (In millions of dollars) Bills discounted 525 — 13 + 342 Bills bought 4o — 12 27 U. S. Government securities i,s4i + 5 +1,163 Other reserve bank credit 16 + 4 2 TOTAL RESERVE BAH CREDIT 2,422 16 +1,477 Monetary gold stock 3,960 + g - 993 Treasury currency adjusted 1,771 + l - 21 Money in circulation 5,690 45 + 910 Member bank reserve balances 2,072 + 36 - 343 Unexpended capital funds,nonmember deposits,etc. 391 + 3 - io4 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 29,1932; not earlier. B-801a RESOURCES AMD LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINE (in thousands of dollars) July 27,1932 July 20,1932 July 29.1931 R E S O U R C ES Gold with Federal reserve agents 1,959t552 1*95^*312 2,058,539 Gold redemption fund with U.S. Treasury . 63,643 63,628 29,983 Gold held exclusively against F.R.notes 2,023,195 2,017,9^0 2,088,522 Gold settlement fund with F. R. Board . 249,735 245*086 410,496 Gold and gold certificates held by banks 348,212 3^5* %36 94^,53" Total gold reserves . . . . . .. 2,621,142 2,608,862 3*^3*55^" Reserves other than gold . 205»2l4 200,3^ 175*009 Total reserves . 2,826,356 2,809,176 3*618,563 Eon-reserve cash . . 77*666 74,980 79,086 Bills discounted: Sec. by U, S. Government obligations . 202,l6l 213,130 71*883 Other bills discounted 323,219 324,435 111*153 Total bills discounted 525,380 537,565 183,036 Bills bought in open market . . . . .. 39*700 51*902 66,536 U. S. Government securities: Bonds 421,021 420,890 206,723 Treasury notes . .. 268,474 268,551 1 »'™ « Certificates and bills 1,151,696 l,l46,73^ —428,012 Total U.S. Government securities 1,841,191 1,836,175 677*977 Other securities 5>96l 5*787 7,24o Total bills and securities . . 2,412,232 2,431,429 934,795 Due from foreign banks . 2,887 2,712 726 F. R. notes of other banks 16,427 18,482 x «!! Uncollected items . 326,793 350,389 Bank premises . 58,119 58,115 5°*915 All other resources . . .. . 48,098 48,029 28,071 TOTAL RESOURCES . . . .. 5,768,578 5*793*312 5,151,809 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,834,157 2,861,948 1,735*501 Member bank - reserve account . . .. 2,072,164 2,035*517 2,4l4,734 Government 4-5,099 54,034 13*3 5 Foreign bank . . . . . . . . . . .. 11,656 11*^3 Jc'nii? Other deposits . . . . .. 36,428 34,46l 26,0 3 Total deposits . . . . . .. 2,165,3^7 2,135»^"35 2,55^*597 Deferred availability items , . . . * 319*454 346,896 405,755 All other liabilities . 36,408 35*^99 13* 7 . TOTAL LIABILITIES 5,768,578 5*793*312 5,151,809 Ratio of total reserves to deposit and . . F. R. note liabilities combined . , . 56.5$ 56.2% 8h-,3/u Contingent liability on bills purchased for foreign correspondents . . . . .. 57,494 "5* 735 253*Ol Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON JULY 27, I932 R E S O U R C ES (in thousands of dollars) B-801b Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold with Federal reserve agents 1,959,552 169*827 468,942 138,800 185,970 45,600 46 500 612,695 58,.010 37,830 51,680 21,435 122,263* 1 Gold redemption fund with U.S.Treasury 63,643 3,382 13,79% 6,700 6,673 2,763 4,165 9,497 2,150 2,240 2,84l 1,218 8,220 Gold held exclusively against F. R. notes 2,023,195 173,209 482,736 145,500 192,643 48,363 50,665 622,192 60,160 40,070 54,521 22,653 130,483 Gold settlement fund with F. R. Board 249,735 15,986 9^,176 3,^26 17,829 5,724 3,484 61,879 5,602 9,865 13,281 5 186 13 297 Gold and gold certif. held by hanks 348,212 16,157 212,356 9,488 17,924 6,909 8,l40 27,993 5,553 3,421 10,689 3,874 25^708 Total gold reserves 2,621,142 205,352 789,268 158,4l4 228,396 60,996 62,289 712,064 71,315 53,356 78,491 31,713 169,488 Reserves other than gold 205,214 20,082 55,066 33,153 18,312 9,599 5,990 27,136 8,766 3,420 5,503 8,6l4 9I573 Total reserves 2,826,356 225,434 844,334 191,56? 246,708 70,595 68,279 739,200 80,081 -56,776 83,994 40,327 179,061 Non-reserve cash 77,666 5,659 20,964 3,398 3,73$ 3,951 5,775 15,391 3,960 2,184 2,552 4,089 6,007 Bills discounted: • 91 Secured by U.S.Govt, obligations 202,lSl ll,44l 63,613 27,739 12,456 6,439 10,3S3 14,047 7,829 1,540 3,499 3 562 19 628 Other bills discounted 323,219 11,364 40,039 46,349 32,556 21,930 31,911 26,865 5,663 11.711 20.767 14,837 ^ 2 27 Total__bills discounted 525,380 22,805 103,652 74,038 45,012 28,369 42,279 40,912 13,492 13,251 24,266 18,399 98,855 Bills bought in open market 39,700 2,343 13,56? 3,182 3,102 3,165 1,459 5,045 1,043 631 946 969 4*248 U. S. Government securities: ' ®onAs , . 421,021 20,472 189,761 31,240 36,501 9,706 9,730 41,022 13,936 17,353 11,786 i4,269 25,245 Certificates and t i l ls 1,151^96 8 ^ 70 l l Z &l SsItM 112.'403 29J391 3 9 1^ MglSq 4l^6q %:mo 1 ^ 1^ 77:7^ Total U.S. Govt, securities l,s4l,191 121,228 704,992 138.550 177,232 47,133 46,723 274,810 65,731 54,510 56,967 30,721 122,594 Other securities 5,96l - 4,239 1,539 - - 133 Total bills and securities " 2,412,232 146,376 826,450 217,359 225,3^6 78,667 90,46i 320,767 80,266 68,575 82,179 50,089 225,697 Due from foreign banks 2,887 211 1,180 286 269 106 98 373 %g n 77 75 m F R notes of other banks 16,42? 317 3,797 3?U 988 1,316 990 2,305 1,696 590 1.6J2 260 2,122 Uncollected items 326,793 4o,533 90,o4l 27,135 32,250 22,807 8,004 39,234 11,963 6,860 18,462 11,630 17,874 An other "resources ^1 4 IMI 3 ^0 I'.JOl l:l79 j.'^g ^883 i ll 1:162 T0TAJ» RESOURCES 5,708,578 423,430 1,830,071 443,856 518,557 184,556 179,7761427,005 182,524 138,389 193,46s 109,507 436,539 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAMS OH JULY 27, 1932 B-801c L I A B I L I T I ES (in thousands of dollars) Total Boston Hew York Phi la. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,834,157 203,402 593,492 253,827 294,485 94,224 111,115 727,993 98,606 78,880 92,282 37:,.366 242,785 Deposits: Member bank - reserve account 2,072,164 145,351 949,620 117,109 143,211 49,814 41,495 292,560 51,567 40,112 66,304 43,723 131,298 Government 45,099 1,542 23,266 1,506 2,512 366 602 5,516 2,552 1,428 3,026 1,211 1,572 Foreign bank 11,656 889 3,770 1,205 1,182 468 433 1,568 4io 257 339 328 807 Other deposits 3§jk28 200 24,835 78 2, • 701 16 429 1.712 785 207 84 762 4,599 Total deposits 2,165,347 147,982 1,001,491 119,898 149,606 50,684 42,959 301,356 55,31% 42,004 69,753 46,024 138,276 18,605 Deferred availability items 319,454 40,083 87,797 25,300 29,478 21,547 7,670 38,296 12,928 6,639 18,409 12,702 Capital paid in 153,791 10,922 59,182 16,217 14,263 5,200. 4,876 17,192 4,471 2,922 4,072 3,918 10,556 Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 2.610 All other liabilities 36,408 1,002 13.032 2,128 "5,085 1.418 2.707 4.557 1.280 1.588 828 2 J J1 TOTAL LIABILITIES 5,768,578 423,430 1,830,071 443,856 518,557 184,556 179,776^27,805 182,624 138,389 193,468 109,507 436,539 Reserve ratio (per cent) 56.5 64.2 52.9 51.3 55.6 48.7 44.3 71.8 52.0 47.0 51.8 48.5 46.3 Contingent liability on bills purchased for foreign correspondents 57,494 4,637 16,367 6,285 6,163 2,441 2,258 8,177 2,136 1,342 1,770 1,708 4,210 FEDERAL RESERVE HOTE STATEMENT ^Federal reserve notes: issued to F.E.bank by F.R.Agent 3,072,068 223,132 660,471 264,491 307,766 99,646 129,031 767,392 107,841 82,158 101,344 43,147 285,649 Held by Federal reserve bank 237.911 19,730 66.979 10.664 11.281 5.422 17.916 19.399 9.215 1.278 9,062 6.081 16.864 In actual circulation 2,834,157 203,402 593,492 253,827 294,485 94,224 111,115 727,993 98,606 78,880 92,282 37,066 248,785 Collateral held by agent as security for.-notes issued to bank 12,260 80,000 Gold and gold certificates 976,637 47, 010 372,942 75,020 71,970 13,020 13,500 247,695 20,710 12,630 9,880 Gold fund - F. B. Board 982,915 122, 817 96,000 63,780 ii4,ooo 32,580 33,000 365,000 37,300 25,200 41,800 9,175 42,263 "Eligible paper 508,963 22, 755 103,419 73,320 44,852 30,270 41,103 41,489 12,284 12,860 23,99s 18,393 84,220 1.500 80.000 U. S. Gov't, securities 623,900 30, 200, 96,000 55,000 80,000 24.000 42.000 115,000 37,600 31,900 28,000 Total collateral 3,092,415 223,482 668,361 267,120 310,822 99,870 129,603 769,184 107,894 82,590 103,678 43,328 286,483 MATURITY DISTRIBUTION CF BILLS AMD SHORT TERM SECURITIES /- z- , 91 days to Over 6 months To tal 7?i thin 15 days 16 to 30 days 31 to 60 days 61 to 9° days g months Bills discounted 525,380 370, 062 38,281 53,992 42,733 19,776 536 Bills bought in open market 39,700 7, 663 7,241 12,122 12,674 Certificates and bills 1, 151,696 66, 150 112,600 341,833 193,089 65,855 372,169 Municipal warrants 5,961 5, 423 388 - 150 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis