H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEIE^ FOR TEE PRESS Released for publication B-801 Friday morning, Sept. 9; Federal Reserve Board. not earlier. September o, 1932. COITDITIO^ 0? FEDERAL RESERVE BATES Tne daily average volume of Federal reserve bank credit outstanding during the week ending September J, as reported by the Federal reserve banks, was $2,330,000,000, a decrease of $1,000,000 compared with the preceding week and an increase of $1,092,000,000 compared with the corresponding week of 1931* On September 7 total reserve bank credit amounted to $2,319,000,000, a decrease of $12,000,000 for the week. This decrease corresponds with decreases of $4,000,000 each in member bank reserve balances and unexpended capital funds, nonmember deposits, etc*, and increases of $19,000,000 in monetary gold stock and $18,000,000 in treasury currency, adjusted, offset in part by an increase of ^34,000,000 in money in circulation. Holdings of discounted bills decreased $4,000,000 at the Federal Reserve Bank of Philadelphia, $2,000,000 each at Richmond and Atlanta and $13,000,000 at all Federal reserve banks, The System1s holdings of bills bought in open market were practically unchanged, while holdings of United States Treasury notes increased $4,000,000 and holdings of Treasury certificates and bills declined $5,000,000. Changes in tne amount of reserve bank credit outstanding and in related items during tne week and trie year ending September 7> --932, were as follows: Increase or decrease since Sept. 7 Bills discounted Bills bought U. S. Government securities Other reserve bank credit TOTAL RESERVE BAEZ CREDIT Monetary gold stock Treasury currency adjusted Money in circulation Member bank reserve balances Unexpended capital funds,nonmember deposits,etc. f 1—1 Sept. 9 1932 1932 1931 (in millions of do liars) 420 -- 1133 + 160 34 - 154 1,551 - 1 +1,123 14 2 16 4- 2,319 - 12 +1,103 4,105 + 19 - 895 1,819 + is + 57 5,725 + 34 + 633 2,142 - 4 - i4s 377 - 4 - 220 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday norning, Septeriber 9,1932; not earlier. B-SOla RESOURCES ATT' D LIABILITIES OF THE TT3L7S FEDERAL RESERVE BAFXS C01BIE3D (In thousands of dollars) Sent. 7,1932 Aug. 31,1932 Sept. 9, 1931 R E S O U R C ES 2,081,761 Gold with Federal reserve axonis . . .. 2,088,557 2,190,648 Gold redemption fund with U.S.Treasury . 57,078 57,668 29,731 Gold held exclusively against F.R.notes 2,145,635 2,139,429 2,220,379 Gold settlement fund with F.R. Board . . 262,556 273,486 419,228 Gold and fold certificates held, "by banks 386,382 360,046 330,439 2,772,961 Total gold reserves 2,794,573 3,470,046 206,702 158,717 Reserves other than gold 196,42s Total reserves . . .. 2,991,001 2,979,663 3,628,763 67,891 Yon-reserve cash 74,4i4 75,H9 Bills discounted: 113,123 Sec. by U.S. Government obligations 152,137 157,545 268,291 275,211 147,109 Other bills discounted 432,756 260,232 Total bills discounted . . . 420,428 Bills bought in open market 33,585 34,098 197,788 U. S. Government securities: 292,027 Bonds 420,772 420,988 18,962 Treasury notes 399,799 395,974 Certificates and bills 1,030,352 1,034,753 417,076 Total U.S. Government securities 1,850,923 1,851,715 728,065 6,267 Other securities 5,714 5,915 Total bills and securities . . , 2,310,650 2,324,484 1,192,352 Due from foreign banks 2,659 2,668 10,746 F. R. notes of other banks 13,305 15,082 14,794 312,272 Uncollected items , 330,425 440,305 58,121 58,121 59,109 Bank premises 47,613 All other resources , 48,055 35,104 5,828,630 5,815,022 5,449,064 L I A B I L I T I ES 2,831,749 2,814,020 2,010,322 F. R. notes in actual circulation Deposits: Member bank - reserve account . 2,141,655 2,146,183 2,289,756 Government 47,295 59,429 30,575 Foreign bank 11,079 14,187 207,415 Other deposits . 20,127 21,485 25,984 2,553,730 Total deposits . , 2,220,156 2,241,284 427,036 Deferred availability items . . . 324,495 308,796 153,099 167,063 Capital paid in 153,094 259,421 274,636 Surplus 259,421 38,402 16,277 All other liabilities 39,715 TOTAL LIABILITIES 5,322,630 5,815,022 5,449,064 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 59.2 fo 58.9# 79.5ft Contingent liability on bills purchased 49,043 231,260 for foreign correspondents 44,973 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AH) LIABILITIES OF THE FEDERAL RESERVE SA11KS OF SEPTE#ER 7, 1932 R E S O U R C ES (in thousands of dollars) B-801Td Total Boston >Tew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,OSo,557 170,627 497,592 150,000 186,970 70,oOO 57,500 627,845 64,510 39,#35 58,680 26,835 137,263 Gold redenrption fund with U.S.Treasury 57,078 3,056 12,106 6,g4S_ 6,657 ' 2,428 3,604 8,464 2,0l4 2,268 2,647 1,163 6,993 G-old held exclusively against R. notes 2,145,635 173,713 509,698 156,2%3 193,027 73,028 61,io4 636,309 66,824 42,103 61,327 27,995 144,256 Gold settlement fund with F.R.Board 262,556 15,566 54,684 8,366 25,561 9,254 6,782 70,108 7,946 11,072 15,295 9,310 28,612 Gold and gold certif. held by banks 386,382 15,952 254,755 6,671 18,4o4 7,%97 8,646 27,210 5,86i 3,366 10,557 3,990 23,443 Total gold reserves 2,79%,573 205,231 819,137 171,285 236,992 89,779 76,532 733,627 80,631 56,541 87,209 41,29s 196,311 Reserves other than gold 196,428 IS.1%0 54,573 33,252 18,546 8,515 %,972 26,057 8,447 2,990 4,555 6,805 9,576 Total reserves 2,991,001 223,371 873,710 204,537 255,538 93,294 81,50% 759,68% 89,07s 59,531 91,764 43,103 205,887 Fan-reserve cash 7%,%l% %,795 20,827 4,695 3,531 3,328 5,582 12,992 3,637 2,060 2,568 3,l4l 7,258 Bills discounted: Secured by U.S.Govt, obligations 152,137 6,916 55,034 19,012 i4,4iio 4,o64 4,145 9,850 5,564 1,102 1,435 1,546 28,729 Other bills discounted 268,291 9,273 35,499 40,373 19,361 20,367 27,117 20,582 5,507 12,069 18,092 13,039 47,007 Total bills discounted 420,428 16,139 90,533 59,390 33,soi 24,431 31,262 30,432 11,071 13,171 19.527 14,855 75,736 Bills bought in open market 33,525 2,352 10,597 3,265 3,114 2,385 1,210 4,298 1,009 634 894 867 2,657 U. S. Government securities: "Bonds %20,772 20,350 190,274 31,230 36,491 9,649 9,577 40,775 13,940 17,202 11,776 14,2%1 2255,,226677 Treasury notes 399,799 22,957 153,040 32,445 42,559 11,251 11,116 51,451 15,673 11,243 13,650 4,947 2299,,446677 Certificates and bills 1,030,352 77,921 367,978 75,650 99,232 26,233 25,921 182,584 36,543 26,206 31,341 11,533 6655,,771100 Total U.S. Govt. securities 1,550,923 121,228 711,292 139,325 178,222 47,133 46,6l4 274,310 66,156 54,651 57,267 30,721 123,444 Other securities 5,71% - 4,220 1,3%l - - —* 153 - - - Total bills and securities 2,310,650 139,769 816,942 203,321 215,197 73,952 79,086 309,540 75,236 60,609 77,658 46,473 201,837 Due from foreign banks 2,659 212 945 288 269 107 99 374 18 11 77 75 184 F. R. notes of other banks 13,305 223 4,73% 31S b29 850 591 1,439 S60 294 1,113 236 1,658 Uncollected items 330,425 36,351 8%,390 27,076 30,275 27,470 9,910 40,485 16,002 8,5-29 20', 315 12,564 16,552 Bank premises 58,121 3,336 1%,S17 2,901 7,968 3,617 2,439 7,828 3,461 1,535 3,649 1,757 4,433 All other resources 4b,055 1,%15 29,16s 7%0 1,212 3,260 3,679 2,430 1,118 1,592 862 1,295 1,284 TOTAL RESOURCES 5,828,630 409,972 1,845,533 443,876 514,619 210,908 183,2401^34,775 192,410 142,461 198,039 113,67% 439,123 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A2H) LIABILITIES OF THE FEDERAL RESERVE BAKKS OIT SEPTEMBER 7, 1932 B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Few York phila. 01eve. Rich. Atlanta Chicago St.Louis Minn. Xans.Cy. Dallas San Fran. 95,33s F.R.notes in actual circulation 2,331,7U9 203,224 600,262 251,940 289,958 106,745 103,126 710,134 101,337 81,565 33,4s4 244,536 Deposits: Member bank - reserve account 2,l4l,655 134,267 994,937 116,291 142,746 51,219 43,155 314,255 55,352 38,816 67,354 44,352 138,861 Government 47,295 3,013 11,607 3,878 3,472 3,397 2,827 6,635 2,099 2,222 2,762 3,823 1,560 Foreign bank 11,0/9 905 3,056 1,226 1,202 476 44i 1,595 417 262 345 333 821 Other deposits 20,127 56 7,603 87 2,045 3,729 3&4 358 942 247 80 100 4,516 Total deposits 2,220,156 138,241 1,017,253 121,482 149,465 53,821 46,787 322,343 58,810 41,547 70,541 48,608 145,758 Deferred availability items 324,495 36,495 81,966 25,434 30,059 26,931 10,138 39,049 16,424 8,345 19,156 12,812 17,636 Capital paid in 153,094 10,376 59,032 16,098 14,221 5,172 4,851 16,953 4,458 2,917 4,066 3,911 10,534 Surplus 259,421 20,039 75,077 26,486 27,640 11,483 10,449 33,411 10,025 6,356 3,124 7,624 17,707 All other liabilities 39,715 1,097 11,943 2,436 3,276 1.756 2,339 7,330 1,306 J j J il 814 2,235 2,952 TOTAL LIABILITIES 5,828 ,630 409,972 1,845,533 443,876 514,619 210,903 133,240^34,775 192,4l0 142,46l 193,039 113,674 439,123 Reserve ration (per cent) 59.2 65.4 54.0 54.S 5S.2 59.4 52.6 73.5 55.6 48.4 55.3 55.2 52.S Contingent liability on bills purchased for foreign correspondents 44,973 3,417 14,671 4,631 4,541 1,798 1,663 6,024 1,574 1,304 1,259 3,102 989 FEDERAL RESERVE 1>T0TE STATE!EFT Federal reserve notes: Issued to F.R.Bank by F,?..Agent 3>055,l6l 223,137 670,483 262,609.302,902 112,99s 126,469 742,543 109,633 84,343 104,67s 43,491 271,870 Held by Federal reserve bank 223,412 19,913 70,221 10,669 12,944 6,253 18,343 32,359 8,246 2,783 9,340 27,334 In actual circulation 2,331,7^9 203,224 600,262 251,940 239,958 106,745 103,126 710,184 101,337 31,565 95,333 38,484 244,536 Collateral held by agent as security for notes issued to bank Gold and gold certificates 1,071,042 47,010 450,592 79,320 71,970 12,920 13,500 254,345 21,110 12,635 9,880 12,260 35,000 Gold fund - F. H. Board 1,017,515 123,617 47,000 70,630 115,000 57,680 44,000 373,000 43,700 27,200 46,300 14,575 52,263 Eligible paper 403,407 16,146 25,582 29,863 30,136 12,165 19,451 14,327 64,541 87,939 58,717 33.413 10,577 U.S. Gov't securities 539,300 36,600 92,000 55,000 85,000 13,000 4l,000 92,000 34,300 32,900 27,000 2,000 74,000 Total collateral 3,031,764 223,373 677,531 263,717 305,333 114,182 128,363 750,031 109,637 84,900 105,131 43,662 275,804 MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 420,428 299,302 34,793 47,290 29,799 8,697 547 Bills bought in open market 33,585 2,681 4,237 983 25,684 Certificates and bills 1,030,352 144,340 58,050 236,789 149,350 13,775 427,543 Hunicitial warrants 5,714 4,238 1,25s 25 193 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis