H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-oOl Released for publication Federal Reserve Board Friday morning, Sept. 23; September 22, 1932. not earlier. COFDITIOT-T OF FEDERAL RESERVE BA?TES The daily average volume of Federal reserve baric credit outstanding during tne week ending September 21, as reported by the Federal reserve banks, was $2,2o9,000,000, a decrease of $24,000,000 compared with the preceding week and an increase of $972,000,000 compared with the corresponding week in 1931. On September 21, total reserve bank credit amounted to $2,259i000,000, a decrease of $42,000,000 for the week. This decrease corresponds with decreases of^ $33,000,000 in member bank reserve balances and $26,000,000 in money in circulation and an increase of $37,000,000 in monetary gold stock, offset in part by an increase of $2,000,000 in unexpended capital funds, nonaember deposits, etc., and a decrease of $33,^00,000 in Treasury currency, adjusted. Holdings of discounted bills decreased $15,000,000 it the Federal Reserve Bank of San Francisco, $10,000,000 at Atlanta, $4,000,000 at Few York, $3,000,000 each at Philadelphia and Cleveland and $43,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market were practically unchanged, while holdings of United States Treasury notes increased $8,000,000 and those of Treasury certificates and bills declined $7,000,000, Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending September 21, 1932. were as follows: Increase or decrease since Sept. 21 Sent. l4 Sept. 23 1912 1932 1931 (In millions of dollars) Bills discounted 359 43 + 49 34 - 209 Bills bought — U. S. Government securities 1,552 4- 1 +1,13.4 Other reserve bank credit 15 + 1 - 9 TOTAL RESERVE BAHC CREDIT 2,259 42 + 944 Monetary gold stock 4,165 + 37 - 732 Treasury currency adjusted 1,513 — 53 + 32 Money in circulation 5,642 26 + 47s Member bank reserve balances 2,211 — 33 69 + 2 - 164 Unexpended capital funds,nonmeraber depos 335 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for mblication Friday morning, September 23,1932; not earlier, B-SOla RESOURCES AFD LIABILITIES OF THE T^EL'TE FEDERAL RESERVE BASICS COMBTJ'ED (in thousands of dollars) Sept. 21,1932 Sept. 1*1,1932 Sent.23,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,144,988 2,130,672 ^,156,539 Gold redemption fund with U.S.Treasury . 54,350 56,560 - Gold held exclusively against F.R.notes 2,199,33% 2,187.233 2,188,363 Gold settlement fund with F. R. Board 286,056 297,(535 Gold and gold certificates held by banks 379 , 29 7 3^7,10^ —Us. Total gold reserves . . . . .. 2,864,691 2,332,627 3,327,433 Reserves other than gold 202,129 202,180 — 1,113 Total reserves . . . .. 3,066,820 3,034,807 3,491,546 Non-reserve cash 79,55° 80,562 71,110 Bills discounted: . , pUr Sec. by U.S. Government obligations . 118,309 *??? , Other bills discounted 24o, l4 257,63*- ^V_l66,982 7 Total bills discounted . . . 359,023 401,933 309,827 Bills bought in open market 33,^52 33,726 243,189 u,Bos;dsovernraent sr ?r:U e:: 421,34% 420,747 234,335 : : : : : : :: j f fi Total U.S. Government securities . 1,851,546 1,350,927 737,985 Other securities 4,402 5,426 l4,805 Total bills and securities . . .. 2,248,623 c»292,012 1,305,806 Due from foreign banks 2,653 iVonf, F. R. notes of other banks 17,871 inf'ma Ufil Uf, Uncollected items 361,983 JJ'JJ cn'??i Bank premises 58,1*6 58,127 59,221 All other resources 43,754 50,3 =—' ~J . TOTAL RESOURCES 5,879,386 5,947,562 5,449,347 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2,759,137 2, ('89,123 2,045,005 Member bank - reserve account 2,210,587 2,243,816 2,279,545 Government 68,969 1 ^4 21.777 Foreign bank 10,702 10,>5® 7Vic" Other deposits 24,830 25,7°^ 3j . Total deposits 2,315,088 2,293,610 2,437,013 Deferred availability items 353,790 404,987 K ^ . v . v : . v : : . v: M | :| § :§ All other liabilities . . . . . . . .. 38,962 42,355 -),\75 TOTAL LIABILITIES . .. 5,379,386 5,947,562 5,449,347 Ratio of total reserves to deposit and . F. R. note liabilities combined . . . 60.4$ 59.--,-° ' 1 * /S Contingent liability on bills purchased , for foreign correspondents 41,978 42, 1-37 » Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMICS 017 SEPTEMBER 21, 1932 R E S O U R C ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas oan Fran. Gold with Federal reserve agents 2,144,988 157,12? 555,473 150,000 187,970 68,500 63,000 624,845 64,010 38,835 59,680 23,585 150,863 Gold redemption fund with U.S.Treasury 54,350 2,902 11,612 5,553 5,?4g 2,103 3,323 8,250 1,883 2,251 &0I0 1^14*. 0,^,1 Gold held exclusively against , . . ^ ), eo F. ~R. notes 2,199,33% 160.029 568,085 155,553 193,718 70,703 Ob,323 033,101 05,893 4X,08C OJ.OO 2^,1,1 197,32_ Gold settlement fund with F.R. Board 286,056 7,240 99,SO? 6,536 22,850 9,50? 4,989 76,072 8,096 8,398 13,1% 8,090 20,7-7 Gold and gold certif. held by banks 379,297 16,880 247,722 6,q6l 18.534 7,733 8,853 29,230 6,082 3,591 10'--70 ^ . 20,402 Total gold reserves 2,864,691 184,l4) 915,4l4 169,050 235,102 88,04} 80,195 738,403 80,671 53,0-31 S6,0b4 35,52b 198,993 Reserves other than gold 202,129 19,04l 56,444 12,319 19,153 8,838 4,797 27,384 8,237 3,72b 4,303 _7,08? 10,_i5L Total reserves 3,066,820 203,190 971,858 201,369 25-4,255 96,88! 84,992 765,787 88,908 56,80? 90,42? 42,013 209,733 Fon-reserve cash 79,55b 5,912 22,885 4,752 4,326 3,492 4,989 13,$59 3,^0 2,24? 2,465 3,147 8,242 Bills discounted: . , r,rin 7 Secured by U.S.Govt, obligations 118,309 6,729 43,451 16,034 10,699 3,529 l,Sl4 7,939 5,260 84c l,l60 <=3 19.&57 Other bills discounted 240,?l4 9,428 33,286 38,251 17,315 18,586 20,?b? 19,319 5,0^2 11,552 lo,6l6 lx,2„4 3/,13^ Total bills discounted 359,023 16,157 76,737 54,335 2S,0l4 22,215 22,581 27,258 10,292 12,400 17,978 12,063 58,993 Bills bought in open market 33,652 2,352 10,684 3,260 3,114 2,458 1,579 4,277 1,009 634 894 Sob 2,525 TJ. S. Government securities: • , , . nr oc Bonds 421,34s 20,350 189,249 31,229 35,492 .9,543 10,062 40,775 13,940 17,294 11,77° 15.265 25,26s ^ . k A. . && M U Total U.S.Govt, securities 1,851,546 121,228 ?13,?92 139,375 1?S,282 47,133 4?,103 262,310 66,156 54,750 57,252 35,/2i i23,444 Other securities 4,402 ~ 2ooJ 1,3^0 - 2 I Z Z —— — t Total bills and securities 2,248,623 139,737 809,100 198,310 209,410 71,80b 71,263 293,345 77,45? 6?,959 75,124 48,650 184,962 Due from foreign basks 2,653 212 939 288 269 107 99 3?4 lb 11 77 75 18 F. R. notes of other banks 17,871 310 6,036 52? 697 1,215 21b 1,90b l'82o 005 ,3^ 3^ ' 9 Uncollected items 351,983 39,752 97,1^3 31,018 32,562 28,403 9,410 45,855 lb,346 9,03s la,3bl 13.051 <0,924 Bank premises 58,126 3,336 14,817 2,907 7,967 3,'ol? 2,4o9 7,328 3,4ol l.°35 3,o 9 . *.11 other resources 43,754 1,330 25,570 721 1,272 3,275 3,611 2,05-3 9?4 1,508 8^2 2—9 . , TOTAL RESOURCES 5,379,386 393,779 1,948,35s 439,892 510,858 208,796 177,6691,131,310 192,432 i4o,o?o 193,291 110,891 432,030 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 21, 1932 l i a b i l i t i es (In thousands of dollars) B—801c Total Boston Fevr York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.B.notes in actual circulation 2,759,137 199,347 579,489 244,998 283,584 103,309 105,309 $95,052 100,839 80,946 93,972 37,497 234,795 Deposits: Member bank - reserve account 2,210,587 117,488 1,086,676 115,965 143,125 48,780 40,509 319,866 54,773 37,198 64,895 43,590 137,722 Government 68,969 4,891 26,795 3,533 3,749 6,772 2,696 10,861 1,907 1,730 2,328 1,383 2,324 Foreign "bank 10,702 772 3,854 1,046 1,026 4o6 376 1,361 356 224 295 285 701 Other deposits 24,830 62 , 11,211 117 1,885 3,433 648 356 899 321 629 91 5,112 Total deposits 2,315,088 123,213 1,128,536 120,661 149,785 59,391 44,229 332,444 57,935 39,533 %l47 45,355 145,859 Deferred availability items 353,790 39,174 93,703 29,130 32,274 27,197 9,731 43,624 17,823 8,586 18,173 14,273 20,102 Capital paid in 152,988 10,872 59,021 16,098 14,221 5,168 4,849 16,910 4,435 2,911 4,059 3,909 10,535 Surplus 259,421 20,0^9 75,077 26,436 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 38,962 1,134 12,542 2,519 3,354 2,24s 3,102 4,869 1,375 1,738 816 2,233 3,032 TOTAL LIABILITIES 5,879,386 393,779 1,948,368 439,892 510,85s 208,796 177,6691,131,310 192,432 140,070 193,291 110,891 432,030 Reserve ratio (per cent) 60.4 63.0 56.9 55.1 58.7 59.5 56.8 74.5 56.0 47.2 55.8 51.4 55.1 Contingent liability on bills purchased for foreign correspondents 41,978 3,243 13,218 4,395 4,310 1,707 1,579 5,718 1,493 939 1,237 1,195 2,944 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.H.Agent 3,007,531 221,163 556,796 258,415 296,970 109,611 123,944 730,483 109,531 83,709 105,181 43,252 263,476 Held by Federal reserve bank 248,394 21,816 77,307 13,417 13,336 6,302 18,635 35,431 8,692 2,763 11,209 5,755 33,581 In actual circulation 2,759,137 199,347 579,489 244,998 233,534 103,309 105,309 695,052 100,839 80,946 93,9(2 37,497 234,795 Collateral held by agent as security for notes issued to bank Geld and gold certificates 1,034,973 47,010 409,473 79,320 71,970 12,920 13,500 254,845 21,210 12,635 9,830 13,610 85,600 Gold fund - F. R. Board 1,110,015 110,117 147,000 70,630 116,000 55,680 49,500 370,000 42,800 26,200 49,300 9,975 62,263 Eligible paper 342,626 16,065 74,033 54,060 27,854 23,436 21,254 27,136 9,872 11,245 17,556 11,943 47,737 U.S. Gov't, securities 532,600 48,100 23,000 55,000 85,000 13,000 40,000 30,000 35,700 33,9 00 28,000 7,900 73,000 Total collateral 3,020,21U 221,292 655,506 259,060 300,824 110,036 124,254 732,031 109,582 83,980 105,5 43,433 271,650 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to To tal Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 359,023 241,609 28,258 43,906 27,555 7,112 10,533 Bills bought in open market 33,652 4,306 928 1,063 26,825 30 Certificates and bills 1,021,843 K 5^,550 136,290 ' ^ 122., 100 93,750 204,556 413,597 Municipal warrants 4,402 4,1b? - 25 10 205 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis