H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication E-801 Friday morning, Aug. 12; Federal Reserve Board not earlier. August 11, 1932. COFDITION OF FEDERAL RESERVE BAITS The daily average volume of Federal reserve bank credit outstanding during the week ending August 10, as reported by the Federal reserve banks, was $£,370,000,000, a decrease of 640,000,000 compared with the preceding weeh and an increase of $1,329,000,000 compared with the corresponding week in 1931. On August 10 total reserve bank credit amounted to $2,357,000,000, a decrease of $31,000,000 for the week. This decrease corresponds with decreases of $21,000,000 in money in circulation and increases of §18,000,000 in monetary gold stock and $42,0*0,000 in Treasury currency, adjusted, offset in part by an increase of $50,000,000 in member bank reserve balances. Holdings of discounted bills decreased $9,000,000 at the Federal Reserve Bank of San Francisco, $6,000,000 each at Philadelphia and Atlanta, $5,000,000 at New York and $35,000,000 at all Federal reserve hanks. The System's holdings of bills bought in open market declined $2,000,000 and of Treasury certificates and bills $23,000,000, while holdings of United States Treasury notes increased $28,000,000. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending August 10, 1932, were as follows: Increase or decrease since Aug. 10 Aug. 3 Aug. 12 1932 1932 1931 (In millions of dollars) 257 Bills discounted 452 - 35 + 2 U B . i S l . ls b G o o u v g e h r t n ment securities 1,8 3 5 9 1 - + 5 — + 1 ,1 9 2 7 3 1 Other reserve bank credit 15 31 +1,2 52 TOTAL RESERVE BANK CREDIT 2,357 - 31 Monetary gold stock 4,005 + is - 959 Treasury currency adjusted 1,799 + 42 + 9 Money in circulation 5,707 — 21 4* 81? 2,062 Member hank reserve balances + 50 331 Unexpended capital funds,nonmember deposits, etc. 392 + 1 — 135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, August 12,1932; not earlier. B-301a RESOURCES AH) LIABILITIES OF THE TWELVE FEDERAL RESERVE 3A2mI£S CO:3Il"SD (in thousands of dollars) Aug. 10,1952 Aug. 3,1932 Aug. 12.1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,018,692 1,987,282 2,077,688 62,173 62,986 29,675 Gold redemption fund with U.S. Treasury Gold held exclusively against F.R.notes 2,080,865 2,050,268 2,107,33 Gold settlement fund vrith F. R.Board . . 256,673 245,805 479,711 342,888 347,730 802,108 Gold and gold certificates held by banks 2,643,853 Total gold reserves . . 2,680,426 3,449,182 Reserves other than gold . . . . 200,706 201,505 168,399 3,618,081 Total reserves . 2,881,132 2,845,358 75,091 ITon-re serve cash 72,842 70,714 Bills discounted: 67,623 Sec. by U.S. Government obli; itions 166,543 132,038 Other "bills discounted . 285,395 305,095 127,357 Total Tail Is discounted 451,938 487,183 194,930 Bills "bought in open market . . . 38,720 40,693 135,733 U. S. Government securities: Bonds 420,853 420,934 230,454 Treasury notes 351,027 323,07s 46,241 Certificates and "bills 1,079,126 1,102,123 451,266 1,851,011 727,961 Total' U.S. Government securities 1,846,135 6,009 6,028 6,102 Other securities Total "bills and securities 2,3^7,67% 2,380,039 1,064,781 2,891 Due from foreign banks . . 2,732 25,964 16,031 F. R. notes of other banks 13,-36 13,248 323,222 Uncollected itens 299,398 457,146 58,119 58,962 Bank premises 58,119 ,,811 30,700 All other resources . . .. U 8 ,^ 47 TOTAL RESOURCES . . . 5,723,6?9 \ 5,746,402 5,346,756 0^1 L I A B I L I T I ES cy 2,857,805' 1,829,301 F. R. notes in actual circulation 2,343,605 Deposits: 2,062,455 I <»' 2,012,134 Member bank - reserve account . 2,392,837 15,074 Government 26,2%^ 55,972 Foreign bank 10,402 10,807 150,483 28,675 Other dooosits 36,422 35,537 2,617,069 Total deposits , 2,134,53-5 2,115,335 x Deferred availability itens 293,275 '1 323,232 443,095 167,279 Capital paid in 153,582 153,700 274,636 Surplus 259,421 259,421 All other liabilities . . . 39,102 36,909 15,376 a 5,723,670 ' 5,346,756 TOTAL LIABILITIES 5,746,402 Ratio of total reserves to deposit and F. R. note liabilities combined . . 57.9% 57.2^ 81.4$ Contingent liability on bills purchased 59,52s 59,496 for foreign correspondents 220,174 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AXD LIABILITIES OF THE FEDERAL RESERVE BAHS OH AUGUST 10, 1932 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kaas.Cy. Dallas San Fran. Gold with Federal reserve agents 2,018,6^2 164,127 465,677 l4S,600 136,970 49,900 59,000 ol9,9^5 60,210 3*5,035 58«680 22,285 146,263 62,173 Gold redemption fund <?ith U.S.Treasury 3,325 13,331 6,570 6,523 2,-31 3,306 9,301 2,134 2,123 2,826 1,310 8,093 Gold, held exclusively against 167,452 155,170 193/493 52,531 62,306 62,344 38,353 61,500 23,535 F. R. notes 2,080,865 480,008 629,246 154,353 256,673 11,696 83,705 Gold settlement fund with F.R.Board 4,094 23,909 4,858 7,177 56,471 8,053 10,891 H,64l 6,74-0 27,4-38 Gold and gold certificates held by banlcs^-2,833 15,7% 213,788 9,931 1S,040 7,144 8,382 26,754 5,568 3,331 10,619 3,921 19,561 169,195 78,365 712,471 76,065 52,580 34,256 201,355 Total ;-clA reserves 2,680,426 194,897 777,501 235,442 64,533 83*766 200,706 26,032 5,011 Reserves other than gold 19,064 54,933 33,821 18,471 8,957 5,403 8,750 3,552 7,742 8,970 Total reserves 2,831,132 213,961 832,434 203,016 253,513 73,490 33,768 733,503 84,815 56,132 58,777 41,933 210,325 20,110 2,120 Fon-r£serve cash 72,842 5,194 3,407 3,969 3,887 5,239 13,457 3,963 2,272 3,64s 5,576 Bills discounted: Secured by U.S.Govt, obligations 166,543 9,451 56,22? 21,952 14,490 5,13s 4,657 10,750 7,110 1,335 1,909 2,762 30,754 Other bills discounted 285,395 10,943 38,268 42,369 22,833 21,717 25,328 22,45s 5,339 12,308 19,315 14,243 49,763 451,93s 54,321 17,010 Total bills discounted 20,4^0 94,490 37,323 26,355 30,485 33,205 12,449 13,645 21,224 80,527 Bills bought in open market 32,720 2,343 13,914 3,210 3,102 2,927 1,434 4,917 1,035 631 946 901 3,357 U. S. Government securities: Bonds 420,858 20,350 190,274 31,227 36,493 9,647 9,567 40,774 13,941 17,300 11,776 14,242 25,267 Treasury notes 351,027 20,101 134,522 23,403 37,255 9,849 9,735 45,525 13,720 9,,839 11,949 4,330 25,796 Certificates and bills 1,079,126 30,777 386,496 79,695 104,534 27,636 27,302 183,511 33,495 27,508 33,542 12,149 72,331 Total U.S. Govt, securities 1,351,011 121,223 711,292 139,325 172,282 47,132 45,607 274,310 66,156 54,747 57,267 30,721 123,444 Other securities 6,009 — 4,316 1,563 — — — - 130 - - -7 Total bills and securities 2,347,678 143,971 824,012 208,419 213,707 76,914 78,526 312,935 79,643 69,154 79,437 4-8,532 207,32s 211 1,025 26s 106 11 Due from foreign banks 2,732 237 98 373 18 77 75 183 F. R. notes of other banks 13,636 244 3,618 354 842 1,176 363 1,899 1,021 647 1,043 223 1,701 Uncollected items 299,393 33,939 80,207 24,735 28,054 23,275 5,775 36,029 12,682 6,943 16,925 9,946 17,838 Bank premises 58,119 . 3,336 14,817 2,901 7,966 3,617vr,2,489 7,828 3,461 1,835 3,649 1,787 4,433 All other resources 4s. i & r" 1.445 28.401 804 1.268 1.52V' 1.819 2.703 1.161 1.596 853 1,296 1.242 5,723,67^ 443,973 514,987 185,9g&>183,6021^13,727 186,7^6 138,438 193,033 107,605 TOTAL RESOURCES 402,301 1,804,624 448,626 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AH) LIABILITIES OF THE FEDERAL RESERVE BAMS OK AUGUST 10, 1932 L I A B I L I T I ES (In thousands of dollars) B-201C Total Boston New York Phi la. Clove. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas S&n. Fran. F.R.notes in actual circulation 2,843,605 203,895 597,007 256,160 295,393 94,015 110,850 720,606 100,446 79,670 95,183 37,396 252,984 Deposi ts: Member bank - reserve account 2,062,455 129,271 949,734 117,427 141,297 50,496 43,900 288,391 53,849 39,622 67,007 43,514 137,947 Government 26,Ste-,y2,251 3,475 833 2,737 87V 1,063 6,124 1,887 1,123 1,514 1,605 2,755 ( Foreign bank 10,402 221 3,123 1,112 1,091 432 4oo 1,447 37S 238 313 302 745 Other deposits 35,587 ,0 42 26,354 81 2,132 42 rtf 493 289 848 256 175 i4l 4,734 Total deposits 2,134,6^132,335 982,686 119,453 147,257 51,844-' 45,856 296,251 56,962 41,239 69,009 45,562 146,181 Deferred availability items 293,275 34,056 76,972 23,498 27,334 21,940 g,80b 35,400 13,5-80 6,648 15,792 10,770 13,479 153,582 10,922 59,175 16,152 14,224 5,197 4,371 17,115 4,463 2,920 4,069 3,914 10,554 Capital paid in 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 Surplus All other liabilities 39,102 1,004 13,707 2,218 3,139 1,509 2,770 5,944 1,290 1,605 856 2,339 2,721 TOTAL LIABILITIES 5,723,67^ 402,301 1,804,6?4 443,973 514,987 185.98& 183,6023,113,727 186,766 138,438 193,033 107,605 448,626 Reserve ratio (per cent) 57.9 , A ti 63.6 52.7 54.0 57.4 50.4 } 53.5 72.6 - - 1 "5 13 .' 9 46.4 54.1 50.6 52.7 a Contingent liability on bills purchased for foreign correspondents 59,52s 4,522 19,426 6,128 6,009 2,380 2,201 7,973 2,083 1,309 1,726 1,666 4,105 FEDERAL RESERVE FOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 3,084,596 223,568 673,467 267,231 307,747 100,179 129,599 757,447 108,750 82,327 103,704 43,228 287,349 Held by Federal reserve bank 240,991 19,673 76,46o 11,071 12,354 6,i64 18,749 36,841 8,304 2,657 8,521 5,832 34,365 In actual circulation 2,843,605 203,895 597,007 256,160 295,393 94,015 110,850 720,606 100,446 79,670 95,183 37,396 252,934 Collateral held by agent as security for notes issued to bank Gold and gold certificates 1,019,627 47,010 4o6, 677 75,020 71,970 12,920 13,500 249,945 20,810 12,635 9,880 12,260 87,000 Gold fund - F. R. Board 999,065 117,117 60, 000 73,580 115,000 36,980 45,500 370,000 39,400 23,400 48,800 10,025 59,263 Eligible paper 434,307 20,249 94, 268 63,689 37,167 28,516 29,323 33,688 11,801 12,790 20,966 17,023 64,827 U. S. Gov't, securities 644,100 39,400 n4, 000 55,000 85,000 22,600 42,000 108,000 36,800 33,900 26,000 4,000 78,000 3,097,099 223,776 674,945 267,289 309,137 100,4i6 130,323 761,633 108,811 82,725 105,646 43,308 289,090 Total collateral MATURITY DISTRIBUTION OF BILLS AITD SHORT TERM SECURITIES 91 days to To tal Within 15 days lo to 30 days 31 to 60 days 6l to 90 days Over o months 6 months Bills discounted 451,938 312,232 33,531 52,513 36,979 16,254 429 Bills bought in open market 38,720 9,438 6,4o4 11,012 11,866 368,856 Certificates and bills 1,079,126 132,459 80,442 249,650 218,588 29,131 1,116 Municipal warrants 6,009 4,703 35 25 130 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis