H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Sept. l6; Federal Reserve Board not earlier. September 15, 1932. COITDITIOF OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending Sent ember lU, as reported by the federal reserve banks, was $2/293,000,000, a decrease of $37,000,000 compared ?ith the preceding week and an increase of $1,040,000,000 compared with the corresponding week in 1931, On September l4 total reserve baric credit amounted to *2,301,000,000, a decrease of $12,000,000 for the week. This decrease corresponds with a decrease of $57,000,000 in money in circulation and increases of $23,000,000 in monetary gold stock and $47,000,000 in Treasury currency, adjusted, offset in Dart by increases of $102,000,000 in member bank reserve balances and $6,000,000 in unexpended capital funds, r.onmember deposits, etc. Holdings of.discounted bills decreased $10,000,000 at the Federal Reserve Bank of Few York, $3,000,000 at Cleveland, $2,000,000 each at Philadelphia and San Francisco and $18,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market and of United States securities were practically unchanged. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September lU, 1932, were as follows: Increase or decrease since Sept. 14 Sent. 7 Sept. Id 1932 1932 1931 (In millions of dollars) Bills discounted 402 - 18 + 139 - 184 Bills bought 34 - 14 Special Treasury certificates +1,123 Other U. S. Government securities 1,351 — Other reserve bank credit 14 - - 42 TOTAL RESERVE BARK CREDIT 2,301 - 18 +1,022 Monetary gold stock 4,128 + 23 - 887 Treasury currency adjusted 1,8 66 + 47 + 66 Money in circulation 5,668 - 57 + 581 Member bank reserve balances 2,244 +102 174 206 Unexpended capital funds,nonmember deposits,etc. 383 + 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for Duplication Friday morning, September l6;1932; not earlier. B-801a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 14,1932 Sept. 7,1932 Sept.l6,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,130,67s 2,OSS,557 2,225,9^8 Gold redemption fund with U.S.Treasury . 56,560 57,073 29,882 Gold held exclusively against F.R.notes 2,137,233 2,145,635 2,255,830 Gold settlement fund with F. R. Board 297,635 262,556 432,865 386,382 797,044 Gold and gold certificates held "by banks 3^7,7^ 2,332,627 2,794,573 3,^85,739 Total gold reserves 202,180 196,428 162,061 Reserves other than gold Total reserves . . .. 3,034,807 2,991,001 3,647,800 74,4l4 72,002 Eon-reserve cash . . . 30,562 Bills discounted: vy Sec. by U.S. Government obligations . 144,302- 152,137 111,150 Other bills discounted 257,631"70y 268,291 151,844 420,428 262,994 Total bills discounted . . .. 401,933 Bills bought in open market 33,726 33,535 217,770 U. S. Government securities: 420,772 277,009 Bonds 420,747 Treasury notes . . . .. 400,796 399,799 18,962 i4,ooo Special Treasury Certificates . . .. Other certificates and bills 1,029,334 1,030,352 432, to 7 Total U.S. Government securities . 1,350,927 1,350,923 742,-18 5,714 15, Other securities 5 >26 Total bills and securities . . 2,292,012 2,310,650 1,238,564 Due from foreign banks . . 2,660 2,659 8,743 F. R. notes of other banks IS,065 13,305 17,110 Uncollected items 411,019 330,425 601,804 58,121 59,220 Bank premises 53,127 All other resources 50,310 48,055 33,503 5,947,562 5,328,630 5,678,751 TOTAL RESOURCES . L I A B I L I T I ES 2,789,123 2,331,749 2,005,896 F. R. notes in actual circulation Deposi ts: 2,141,655 2,417,712 Member bank - reserve account . 2,243,Sl6 Government IS,474 47,295 3,487 Foreign bank 10,556 11,079 197,297 20,127 27,050 Other deposits 25,764 2,220,156 2,645,546 Total deposits 2,298,610 Deferred availability items 4O4,9S7 324,495 569,904 153,094 166,896 Capital paid in 153,066 259,421 274,636 Surplus 259,421 39,715 15,373 All other liabilities . . . 42,355 5,828,630 5,673,751 TOTAL LIABILITIES 5,947,562 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 59 M 59.2# 73.4$ Contingent liability on bills purchased for foreign correspondents . . . . .. 42,437 44,973 233,102 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BASKS OH SEPTEMBER 14, 1932 R E S O U R C ES (in thousands of dollars) B-SOlb Total Boston >Tev York Phi la. CI eve. Rich. Atlanta Chicago St. I-oriis Minn. Ka.nn.Cy. Dallas San Fran. Gold "dth Federal reserve agents 2,130,67s 1JO,427 5-45,313 149,300 186,970 62,600 52,500 627,845 63,810 39,335 59,680 25,635 l4l,26) Gold redemption fund with U.S.Treasury 56,560 3,06$ 11,948 6,206 6,024 2,415 3,548 8,359 1,949 Gold held exclusively against P. R. notes 2,187,238 173,49b 557,261 155,506 192,994 71,015 56,o4S 636,204 65, 759 41,593 62,30s 26,793 148,256 C-old settlement fund with F.R.Board 297,635 13,413 130,323 6,927 27,038 5,522 5,452 53,469 3, 081 8,598 12,980 7,007 18,425 Sold and gold certif. held by banks 347,754 16,615 212,051 6,811 18,56s 7,570 8,799 28,781 5, 837 3,418 10,610 4,030 24,6i4 Total gold reserves 2,832,627 203,524 399,635 169,244 233,600 34,107 70,299 718,454 79, 727 54,009 85,898 37,835 191,295 Reserves other than gold 202,130 19,16S 56,789 32,766 18,914 8,662 4,945 27,149 8, 237 3,451 4,620 7,364 10,115 Total reserves 3,034,807 222,692 956,424 202,010 257,514 92,769 75,244 745,603 87,964 57,460 90,51s 45,199 201,410 Fon-reserve cash so,562 5,577 22,596 4,096 4,181 3,519 5,878 l4,506 3,623 1,993 2,701 3,508 8,384 Bills discounted: , 0 Secured by U.S.Govt, obligations 144,302^ 6,l40 47,059 18,202 13,240 4,195 5,612 9,034 5,525 8l4 1,353 1,859 31-^%other bills discounted 257,6^1^' 9,364 34,387 38,558 17,938 19,927 27,833 20,158 5,371 11,521 17,461 12,563 42,§§a. Total bills discounted 401,933 15,704 81,446 56,760 31,178 24,122 33,445 29,192 10,896 12,335 18,314 14,422 73,619} Bills bought in open market 33,726 2,352 11,069 3,265 3,ll4 2,495 1,210 4,292 1,009 634 894 866 2,526 U. S. Government securities: Bonds 420,74? 20,350 190,274 31,230 36,491 9,649 9,572 40,775 13,940 17,182 11,776 l4,24l 25,267 Treasury notes 400,796 22,957 154,040 32,445 42,559 11,251 ll,li6 51,451 15,673 ll,24o 13,650 4,947 29,467 Certificates and bills 1,029,334 77,921 379,478 75,650 99,232 26,233 25,917 170,034 36,543 26,242 31,84l 11,533 68,710 Total U.S.Govt, securities 1,850,927 121,228 723,792 139,325 178,282 47,133 46,605 262,310 66,156 54,664 57,267 30,721 123,444 Other securities 5,426 - 3,910 1,341 - - - -- 175 - ~ ~ Total bills and securities 2,292,012 139,284 320,217 200,691 212,574 73,750 31,260 295,794 78,061 67,808 76,975 46,009 199,589 Due from foreign banks 2,660 212 946 288 269 107 99 374 18 11 77 75 184 F. R. notes of other banks 13,065 256 5,976 391 1,035 1,018 864 2,ll4 1,731 751 1,132 288 2,409 Uncollected items 411,019 47,120 111,055 35,179 39,073 35,^57 10,722 48,236 17,721 9,009 20,825 13,471 22,901 Bank premises 52,127 3,336 14,317 2,907 7,96s 3,617 2,489 7,823 3,46l 1,835 3,649 1,787 4,433 All other resources 50,310 1,397 30,202 1,925 1,239 3,263 3,646 2,457 976 1,589 342 1,301 1,473 TOTAL RESOURCES 5,947,562 419,874 1,962,233 447.487 523,853 213,700 ISO,2021^16,962 193,605 140,456 196,769 111,638 440,783 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BJOTCS 01T SEPTEMBER l4, 1932 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Sew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, F.P..notes in actual circulation 2,709,123 200,956 580,903 245,935 287,402 104,548 106,498 699,162 100,948 80,896 94,229 Deposits: 37,774 238,872 Member bank - reserve account Government 2-W 1 3t® 1 , 1 C 9i1 ni ; iS ^ 43,602 139,816 Foreign bank 1,557 785 Other deposits ^ ^ , gg '6 U 285 701 105 5,163 Total deposits m h 2,290,610 14i0,4s54 1,1%22,357 119,179 152,0 21« 55 ,02wc 44,%li4 307,466 57,64o 39 624 62 713 45,549 l46,465 Deferred availability items Capital paid in 14,513 24,249 Surplus 3,912 10,535 259,^1 20,039 75,077 26,486 27,640 11 >83 1 0% 33,4n 10:025 6:356 n i o\ All other liabilities 24 7,624 17,707 1U*6 18.1CT 3,624 ,.,U7 2:o4 {01, T VT T.'&° "*177 2.266 2,955 TOTAL LIABILITIES 5'9"f7,562 !r,--1'1'3^2.233 UU7,U37 523,053 213,700 ISO,2021116,952 193,605 140,456 196,760 111,63c Reserve ratio (per cent) s5o9 - . 6 ^ 65.2 ' 55.9 54.9 58.6 58.1 50.0 74.1 55.5 4 . 55.6 ' 440,783 Contingent liability on bills pur- 77 54.2 52.3 chased for foreign correspondents 42,437 3,243 13,677 4,395 4,310 1,707 1,579 5,7% 1,493 939 1,237 1,195 2,944 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 3^.031,049 222,621 664,074 260,915 301,007 111,607 124,847 731,491 110,022 34,119 104,758 Held by Federal reserve bank 241,926 21.665 75,171 11.980 11.605 7.059 13.349 12.32Q q.OflO 3.223 10.S2Q 4 5 3 . , 8 6 2 0 3 2 3 2 1 7 . 1 1 , 0 9 8 3 0 In actual circulation 2,759,123 200,956 560,903 248,935 287,402 104,548 106,492 699,162 100,943 80,896 94,229 37,774 233,372 Collateral held by agent as security for notes issued to bank Gold and gold certificates 1,032,863 47,010 413,313 79,320 71,970 12,920 13,500 254,345 21,210 12,635 9,880 12,260 84,000 Gold fund - F. R. Board 1,097,815 123,417 132,000 09,920 115,000 55,680 39,000 373,000 42,600 26,700 49,800 Eligible paper •354,673 15,661 13,375 57,263 78,920 55,686 31,121 25,293 32,022 28,926 10,333 11,072 13,754 14,354 62,476 U.S. Gov't securities 533,300 36.600 46,000 56,000 35.000 13.000 41.000 79.000 16.000 ^.QQQ 28.000 3.800 70.000 Total collateral 3,043,656 222,633 :70,293 260,936 303,091 111,893 125,522 735,771 110,143 34,307 106,434 43,7-9 273,739 MATURITY DISTRIBUTION OF BILLS AITD 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 B B i i l l l l s s b d o is u c g o h u t n i t n ed open market 4 3 0 3 1 , , 7 9 2 3 6 3 28 4 3 , , 6 1 2 5 2 4 3 1 3 , , 7 9 5 9 7 1 46,0 9 3 0 8 4 3 2 0 6 , ,4 1 1 51 3 2,010 589 Certificates and bills 1,029,334 171,426 60,822 219,568 136,250 30 Municipal warrants 5,426 3,910 1,276 25 13,7 2 7 1 5 5 427,543 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis