H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-801 Released for publication Federal Reserve Board Friday morning, Sept. September 29, 1932. not earlier. C02DITI01T OF FEDERAL RESERVE BASICS The daily average volume of Federal reserve bank credit outstanding during the week ending September 23, as reported by the federal reserve banks, was $2,251.,000,000", a decrease of *15,000,000 compared with preceding weex and an increase of $759,000,000 compared with the corresponding week m 1931. On September 2.8 total reserve bank credit amounted to $2,241,000,000, a aecree.se of $18,000,000 for the week. This decrease corresponds with a decrease 0 *37,000,000 in money in circulation and increases of $20,000,000 in mone^arv go stock and $22,000,000 in Treasury currency, adjusted, offset in mart by increases of $50,000,000 in member bank reserve balances and %2,0u0,000 in uncxpendeo, capi a funds, nonmomber deposits, etc. Holdings of discounted bills decreased *6,000,000 each at the Federal .^Sc=rve Berks of Few York and Atlanta and *19,000,0^0 at all Federal reserve oanks _ne System's holdings of bills bought in open market were practically uncnan ed^hi. e 6 holdings of United States Treasury notes decreased *5,000,000 anc. tnose 0, ^reasi.y certificates and bills increased *7,000,000. Changes in the amount of reserve bank credit outstanding and in relates J. terns during the week and the year ending September 26, 1932, were as follows: Increase or decrease since Sent. 28 Sent. 21 Sept. 30 1932 1932 1931 (In millions of doliars) 340 _ 19 + 12 Bills discounted Bills bought 34 - - 435 1,854 + 2 +1,112 U. S. Government securities 14 1 - 25 Other reserve bank credit - 2,241 18 + 663 TOTAL RESERVE BAFK CREDIT 4,185 20 - 556 Monetary gold stock Treasury currency adjusted 1,835 + 22 + 61 Money in circulation 5,605 - 37 + 359 2,269 + 58 - 95 Member bank reserve balances Unexpended capital funds,noneember deposits,etc. 3"375 7 + 2 - 06 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Beleased for publication Friday morning, September 30,1932; not earlier. B-S01a RESOURCES A:LD LIABILITIES OF TEE TfiSIVS FEDERAL RE3ER7E 3AE25 C0?.3I"ET> (in thousands of dollars) Sent. 25,1932 Sept. 21,1932 Sept. 30,1931 R E S O U R C ES Gold with. Federal reserve agents . . .. 2,loo,537 2,lU4,98S 1,927,710 Gold redemption fund with U.S.Treasury 48,538 5^,350 39»753 Gold held exclusively against F.R.notes 2,215>075 2,199,338 1»9:'7,*+°3 Gold settlement fund rrith F. R. Board . 264,484 286,056 445,634 Gold and gold certificates held "by 'banks 399,087 379,297 725,084 Total gold reserves . . . . .. 2,87-3,64b 2,364,691 3,138,181 Reserves other than gold 205,907 202,129 lo2,3°4 Total reserves 3,024,553 3,066,520 3,300,5^5 Foil-reserve cash S3,946 79,556 70,774 Bills discounted: Sec. by U.S. Government obligations . 107,059 113,309 132,951 Other bills discounted 232,58% 24o,7l4 194,974 Total bil^n discounted . . . 339, 614-7 359,023 327,925 Bills bought in open market 33>6o4 33,652 4o8,527 U.S. Government securities: Bonds 421,482 421,348 309,185 Treasury notes 402,866 408,555 lo,962 Certificates and bills 1,029,335 1,021,843 414,19S Total U.S. Government securities . l,8S3,o83 1,851,546 7^2,3^5 Other securities 4,872 4,402 14,405 Foreign loans on gold . -- ~ 7°k Total bills and securities . . 2,231,806 2,248,b23 1,557,970 Due from foreign banks 2,663 2,653 8,752 F. R. notes of other banks 15,648 17,"71 l^,99o Uncollected items 3^1,'-95 361,983 478,913 Bank premises . 58,126 58,126 59,225 All other resources 44,046 43,75^ 3^,359 TOTAL RESOURCES 5,662,083 5,879,386 5,529,534 L I A E I L I T I ES F. R. notes in actual circulation . . . 2,720,988 2,759,137 2,097,793 Deposits: r Member bank - reserve account . . .. 2,2o8',521 2,210,587 2,3o3,584 Government . . .. 48,405 08,969 22,243 Foreign bank . 9,864 10,702 95»135 Other deposits 26,352 24,83O 25,194 Total deposits . . .. 2,353,1^2 2,315,088 2,500,156 Deferred availability items . . . .. 334,900 353,790 467,039 Capital paid in 152,996 152,988 lbS,759 Surplus 219,421 259,421 274,036 All other liabilities 40,636 38,962 16,551 TOTAL LIABILITIES . . .. 5,862,083 5.879,386 5,529,53^ Ratio of total reserves to deposit and F. R. note liabilities combined . . 60.8fj 60.4$ 71.7/& Contingent liability on bills purchased for foreign correspondents 43,486 4l,97S 100,118 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES A?iD LIABILITIES OF THE FEDERAL RESERVE BAMS Oil SEPTEMBER 28, 1932 R E S C UE C SS (In thousands of dollars) B-801b Total Boston ^ew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. ICans.Cy. Dallas San Fran. Gold with federal reserve agents 2,1L 6V6U, 537 153,527 521,372 150,500 182,470 70,SCO 65,000 o23,845 62,710 40,335 53,420 23,935 l48,2o3 Gold redemption fund with U.S.Treasurjr 533 3,379 6,373 5,523 5,702 2,028 3,051 8,031 1.853 2,239 2,504 1,085 6,710 Gold held exclusively against F. R. nctes 2,21: 075 161,906 522,245 156,023 132,172 72,622 63,051 631,876 64,563 42,574 60,934 25,020 154,973 Gold sertuttl]e ment fund with F.R. Board 264 454 8,056 93,832 3,328 24,074 8,294 6,31s 69,327 4,523 9,324 9.051 6,122 22,175 G-old and gold r.Ar*it if. held "by hanks 399 087 17,173 259,714 6,271 19,337 7,319 9.026 30,530 6,329 3.697 11.277 4,077 23,120 Total f:old reserves 2,872 b4b 127,132 941,791 166,222 231,533 88,801 S3,395 731,733 75.5)5 55.59^ Si,312 35,219 200,320 Reserves other than gold. 205 907 19,530 57,601 32,035 18,640 9,179 5,255 22,675 8,821 3,490 4,762 7,305 10,554 Total reserves 3,084 553 206,662 999.392 192,257 250,223 97,930 32,650 760,402 s4,4lb 59,085 86,074 42,524 210,822 Ton-reserve cash S3 946 6,001 21,442 1,719 4,252 3.U37 5,326 15,603 4,904 2,136 3,737 3,529 8,113 rills discounted: Secured "by U.S .Govt, obligations 107 059 6,529 38,033 15,136 9,123 3,310 1,499 6,626 4,927 6-89 1,132 802 12,753 Other bills discounted 232 582 8,929 32,803 37,907 19,134 19,133 15,399 12.199 4,719 10,354 16,370 10,812 38,329 Total bills discounted 339 647 15,453 70,836 53,043 28,257 22,943 16,392 24,325 9,646 11,043- 17,502 H,6l4 57,582 Bills "bought in open market 33 6o4 2,352 10,551 3,260 3,114 2,124 1,763 4,147 1,002 634 294 266 2,231 U. S Government securities: # Ponds 421 482 20,350 139,251 31,172 36,491 9,648 10,275 40,775 13,940 17,270 11,776 15,265 25,269 Treasury notes 402 366 22,957 152,246 32/496 44,559 11,252 11,124 51,451 15,673 11,251 13,650 6,140 29,467 Certificates and bills 1,029 335 77,921 376,695 75,6^1 99,232 26,233 25.919 170,084 36,54) 2o,207 31,826 l4,3l6 68,702 Total U.S. Govt, securities 1,853 623 121,222 718,792 139,319 180,232 47,133 47,318 2o2,310 66,156 54,723 57,252 35,721 123,44 ier socur] 4 872 2,857 1,340 500 175 tai Is anc zuri ti' 2,231 206 139,033 103,036 196,962 211,653 72,260 66,479 291,222 76,210 66,520 75,642 43,201 123,857 from Tor-T.ijn banks 2 663 .212 949 232 269 107 99 37'4 18 11 77 75 184 ?. 5. notes of other banks 15 642 345 5,142 438 819 1,071 279 1,5^9 1,125 452 1,546 327 1,949 Uncollected items 341 295 41,264 95,310 30,133 22,909 29,500 2,399 39,642 15,912 2,495 16,009 10,600 17,116 Sank premises 58 126 3,336 14,217 2,907 7,967 3,617 2,429 7,822 3,461 1,235 3,649 1,787 4,433 nil other resources 44 046 1,323 25,995 723 1.256 3,257 3,645 1,939 958 1,546 351 1,129 1.334 TOTAL RESOURCES 5,862,083 398,181 1,966,089 434,427 505,334 211,229 176,5261,112,626 127,604 l4o,l46 187,641 102,292 427,262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAMCS OF SEPTEMBER 23, 1932 L I L I T I (In thousands of dollars) B-S01q Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Eans.Cy. Dallas San Fran. F.R,notes in actual circulation 2.720,988 197,617 572,735 242,879 280,322 101,992 103,107 682,766 99,896 79,9^6 92,034 36,704 230,940 Deposits; Member ban]: - reserve account 2,268,521 124,673 1,120,351 116,02s 145,163 48,6oi 42,137 332,740 52,707 39,602 64,043 42,859 139,612 Government 48,405 1,878 18,821 1,337 3,291 9,489 3,174 l, 66 1,409 1,060 1,769 1,799 2,696 Foreign "bank 9,864 772 3,017 l, 046 1,026 4o6 376 1,361 356 224 295 284 701 Other deposits .26,352 122 12,475 139 1,941 3,339 584 412 996 226 59^ 170 5,30^ Total deposits 2,353,142 127,450 1,154,664 lis,6oo 151,427 61,835 46,271 336,181 55,468 41,120 66,701 45,112 148,313 Deferred availability items 334,900 40,972 91,520 27,829 28,281 28,735 8,821 39,490 5.6,421 8,094 15,862 11,549 17,276 Capital paid in 152,996 10,872 59,020 16,098 14,221 5,173 4,858 16,910 4,435 2,910 4,059 3,908 10,532 Surplus 259,421 20,039 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 40.636 1,231 13,023 2,535 3,^3 2,021 3,020 4,92s 1,359 1,720 Sbi 3,395 3,100 TOTAL LIABILITIES 5,802,083 398,151 1,966,089 434,427 505,334 211,239 176,5261,118,686 187,604 i4o,l46 187,641 108,292 427,868 Reserve ratio (per cent) 60.8 63.6 57.9 5'4.8 58.0 59.8 59.3 7^.6 5^.3 48.8 5^.2 52.0 55.6 Contingent liability on bills purchased for foreign correspondents 43,436 3,243 14,726 4,395 4,310 1,707 1,579 5,710 '~jj1 ,~^J9Jj3 93: 1,237 .1,195 2,944 if w ^ FEDERAL RESERVE :T0TE STATEMEN^^JJ.jl ~ r-xj-f q V? Federal reserve notes: 7-kZ .c«*< Issued to F JLBank by F.R.Agent 2,972, #7/218,706 643,993 256,290 291,222 109,593 121,806 722,892 110,607 83,269 103,884 42,381 267,6^4 Held by Federal reserve bank 251,809. 21,089 71,203 13,4II 10,900 7,601 18,699 4o,ie^ 10,711 3,323 11,350 6,177 36,714 In actual circulation 2,720,93s 197,617 572,785 242,879 250,322 101,992 103,107 632,766% 99,896 79,946 92,034 36,704 230,940 Collateral held by agent as security for notes issued to bank Gold and gold certificates 1,030,622 47,010 409,872 79,320 71,470 12,920 13,500 254,345 21,110 12,635 9,630 12,260 So ,000 Gold fund - F. R. Board 1,135,915 111,517 172,000 71,180 111,000 57,680 51,500 369,000 41,600 27,700 48,800 11^75 62,'263 Eligible paper 323,915 15,415 ,080 53,113 23,209 23,591 15,742 24,613 9,363 5.h,1- 17,302 11,568 47,025 U e S. Gov*t. securities 503,800 44,300 53,000 85,000 16,000 42,000 80,000 33,600 33,900 30,000 7,500 73,000 Total collateral 2,994,252 218,742 649,952 256,613 295,679 110,491 122,742 728,463 110,673 83,824 105,752 43,003 268,288 'MATURITY DISTRIBUTION OE BILLS AH) S^ORT TERM SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 339,647 236,003 27,998 41,266 27,174 6,55"" 649 Bills bought in open market 33,604 2,267 1,644 1,792 27,571 30 Certificates and bills 1, 029,335 19,322 150,417 156,349 25,000 254,160 423,587 Municipal warrants 4,872 4,632 25 10 206 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis