H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS B-801 Released for publication Federal Reserve Board, Friday morning, Oct. 7', October 6, 1932. not earlier. CONDITIO!1 OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending October 5, as reported by the Federal reserve Danks, was $2,242,000,000, a decrease of $9,000,000 compared with the preceding week and an increase of $485,000,000 compared with the corresponding week in 1931. On October 5 total Reserve bank credit amounted to $2,241,000,000, unchanged from a week ago. Increases of $44,000,000 in money in circulation, $-15>000,000 in member bank reserve balances and Al,000,000 in unexpended capital funds, were offset by increases of $16,000,000 in monetary gold stock and $44,000,000 in Treasury currency, adjusted. Holdings of discrunted bills increased $4,000,000 at the Federal Reserve Bank of San Francisco and decreased 44,000,0 )0 at Philadelphia and $6,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market show little change for the week, while holdings of United States Treasury notes_declined $7,000,000 and holdings of Treasury certificates and bills increased $5,000,000. Changes in the amount of reserve bank credit outstanding and in related ivems during the week and the year ending October 5, 1932. were as follows: Increase or decrease since Oct. 5 Se-ot. 28 Oct. 7 1932 1932 1931 (In millions of dollars) Bills discounted 333 7 - 130 Bills bought 33 - l - 548 U. S. Government securities 1,551 - 3 +1,113 Other reserve bank credit 23 + 9 - 33 TOTAL RESERVE BA!C< CREDIT 2,241 + 402 Monetary gold stock 4,201 4- 16 - 441 Treasury currency adjusted 1,879 4* 44 + ll4 Money in circulation 5,649 + 44 + 213 Member bank reserve balances 2,284 4* 15 + 7 Unexpended capital funds,nonmember depo itc, 388 + l - 149 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 7,1932; not earlier. B-SOla RESOURCES AFD LIABILITIES 0? THE TWELVE FEDERAL RESERVE BAHCS COMBINED (In thousands of dollars) Oct. 5, 1932 Sept. 23,1932 Oct. 7,1931 R E S O U R C ES Gold with Federal reserve agents 2,181,139 2,166,537 1,863,400 Gold redemption fund with U.S. Treasury 48,287 48,538 45,650 Gold held exclusively against F.R.notes 2,229,426 2,215,075 1,909,050 Gold settlement fund with F. R. Board . . 300,570 264,484 385,316 Gold and gold certificates held by banks . 382,532 399,087 742,584 Total gold reserves 2,912,528 2,878,646 3,036,950 Reserves other than gold 196,940 205,907 156,19s Total reserves 3,109,468 3,084,553 3,193,14s Fon-reserve cash 7766,,668811 83,946 67,016 Bills discounted: Sec. by U.S. Government obligations . . 106,946 107,059 230,92s Other bills discounted 226,481 232,588 232,465 Total bills discounted . . .. 333,427 339,647 463,393 Bills bought in on en marice t 3333,,226666 33,604 531,356 U. S. Government securities: Bonds 421,189 421,482 327,682 Treasury notes . 396,295 402,866 18,978 Certificates and bills . . 1,033,834 1,029,335 391,685 Total U.S. Government securities . . 1,851,31s 1,853,683 738,345 Other securities 5,911 4,872 13,355 Foreign loans on gold 4,768 - Total bills and securities . . . 2,223,922 2,231,806 1,801,217 Dae from foreign banks 2,686 2,663 8,748 F. R. notes of other banks 13,507 15,648 16,849 Uncollected items 374,122-7(3 341,295 519,010 Bank premises 58,127 58,126 59,225 All other resources 45,064 44,046 39,815 TOTAL RESOURCES 5,903,^7. 5,262,083 5,705,028 6 3k j L I A B I L I T I ES F. R. notes in actual circulation . . .. 22,,774444,,886688 2,720,988 22,,226699,,998899 Deposits: Member bank - reserve account 2,283,965 2,268,521 2,277,429 Government 23,877 48,405 30,970 Foreign bank 9,194 9,864 152,622 Other deposits 27,953 26,352 25,012 Total deposits 2,344,989 2,353,142 2,486,033 Deferred availability items 360,165- 334,900 490,224 Capital paid in 152,966 152,996 166/170 Surplus 259,421 259,421 274,636 All other liabilities 4l,i68 40,636 17,i 6 TOTAL LIABILITIES 55,,990033,,557777 ,, ,, 5,862,083 5,705,028 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 61. if. 60.8% 67.156 Contingent liability on bills purchased for foreign correspondents 44,236 43,486 80,809 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AM) LIABILITIES OF TEE FEDERAL RESERVE BAlvKS ON OCTOBER 5, 1932 R E S O U R C ES (in thousands of dollars) B~801b Total Boston IT ew York phi la, Cleve, Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, icld th Federal reserve agents 2,181,139 164,527 586,724 152,500 182,470 70,000 65,000 623,845 64,510 41,335 6-0,480 22,985 146,763 Gold redemption fund with U.S.Treasury 48,237 3,346 6,007 5,588 5,609 2,233 3,028 8,006 1,842 2,235 2,500 1,183 6,704 GoTd held exclusively against noucs 2,229,42b 167,873 592,731 158,088 188,079 72,233 68,028 631,851 66,358 43,570 62,980 24,168 153,467 Gold settlement fund with F.R,Board 300,570 10,7b7 108,552 9,200 21,865 9,436 3,129 76,586 3,979 9,596 10,125 8,041 19,244 "old and ^old certify held by "banks 382,532 17,222 240,895 7,132 19,384 7,901 9,065 30,833 5,822 3,776 11,347 4,136 25,019 Total iC'ld zoserves 2,912,528 195,862 942,173 174,420 229,32s 89,620 85,222 739,270 31,159 56,942 34,452 36,345 197,730 Reserves other than gold 196,940 18,169 56,223 30,464 18,195 8,514 4,627 27,571 7,961 3,287 4,669 6,737 10,523 Total reserves 3,109,46s 214,031 998,401 204,884 247,523 98,134 89,849 766,841 89,120 60,229 39,121 43,082 208,253 ZTon reserve cash 76,681 5,447 20,318 4,752 3,992 3,296 4,908 14,481 3,776 2,132 3,300 3,067 7,212 ":':il'Uc discounted: Secur ed "by U..C, Govt, obligations 106,946 4,865 37,472 13,246 10,481 3,774 1,588 5,970 4,397 627 1,216 687 22,623 Other bills discounted 226,481 9,250 30,834 36,147 20,147 17,798 16,217 16,510 4,715 10,076 15,964 9,983, 38.840 Total bills discounted 333,427 14,115 68,306 49,393 30,62s 21,572 17,805 22,480 9,112 10,703 17,130 10,670 6l,4b3 bvtight in open market 33,266 2,353 ie,44o 3,255 3,116 2,145 1,397 4,149 1,009 634 895 865 2,508 u. , Government securities: Br. rids 421,189 20,350 188,739 31,172 36,491 9,647 10,05s 40,776 13,940 17,195 11,776 15,776 25,269 Tieasury notes 396,295 22,693 150,560 32,073 42,070 11,122 10,987 50,904 15,493 11,112 13,493 6,60O 29,128 Certificates and bills 1,033,834 78,184 376,993 76,024 99,721 26, )64 26,043 170,630 36,723 26,337 31,983 15,785 _6i,o4l_ Total U.Su Govt, securities 1,851,31s 121,227 716,292 139,269 178,282 47,133 47,088 262,310 66,156 54,644 57,252 38,221 123,444 500 0thor securities 5,9U - 3,82b 1,341 - — - 182 - Total bills and securities 2,223,922 137,695 798,926 193,258 212,026 70,850 67,290 288,939 76,277 66,163 75,327 49,756 187,415 Due from foreign oanks 2,680 212 974 287 269 107 99 374 17 11 77 75 134 .?.* notes of other banlcs 13,507 7 c 215 4,180 517 844 i,o64 693 1,463 1,237 358 1,236 332 1.368^ Uncollected items 37^,l"2^ 44,356 100,524 34,616 33,603 30,269 10,173 41,107 17,104 8,871 21,326 11,975 20,198 - 2ank premises 58,127 3,336 14-817 2,907 7,968 3,617 2,439 7,828 3,461 1,835 3,649 1,787 4,433 All other resources 45,064 1,374 26,521 801 1,235 3,224 3,34s 1,942 1,138 1,646 841 1,209 1,285 TOTAL RESOURCES 5,903,577 406,666 1,964,661 442,022 507,460 210,561 179,3491^22,975 192,130 141,245 194,877 111,283 430,34s Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES' Aim LIABILITIES OF THE FEDERAL RESERVE BASKS Oil OCTOBER 5, 1932 L I A B I L I T I ES (In thousands cf dollars) B-SOlc Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran F.R.notes in actual circulation 2,744,s6s 199,267 590,432 241,308 277,221 102,92s 103,540 633,004 100,494 81,276 93,16s 37,263 234,367 ' Deposits: Member bank - reserve account 2,233,965 130,049 1,114,687 121,676 146,866 52,574 44,507 332,329 55,073 3S.213 66,543 43,325 133,11s Government 23,577 606 3,399 1,103 1,992 4,260 1,553 4,971 1,493 S03 858 l,4s4 1,355 Foreign "bank 9,194 % Ij 628 3,629 850 834 330 306 1,106 289 182 239 231 570 Other deposits 11.955,/ 33 14,135 174 2,035 _ 1,172 53S 28]_ 1,119 2/1 701 111 5.131 Total de-posits 2,344,9891131,316,1,135,250 123,803 151,727 60,336 46,904 333,689 57,979 39,46Q 68,341 45,151 145,424 Deferred availability items 360,165 44,023 90,827 31,724 33,225 28,764 10,605 40,902 17,852 3,880 20,335 13,797 19,2)3^7 Oapital paid in 152,966 10,872 59,020 16,09s 14,215 5,173 4,858 16,90s 4,435 2,910 4,059 3,908 10,510 Surplus 259,421 20,039 75,077 26,436 27,640 11,433 10,449 33,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 4L16S 1,149 13,455 2.601 2,432. -L&IL 2,991 Jl.06i_ M4R ..LJ54. sso 3,540 1.109 TOTAL LIABILITIES 5,903,577 406,666 1,964,661 442,022 507,460 210,561 179,3494122,975 192,130 l4l,24g 194,877 111,283 430,34s , c=C Reserve ratio (per cent) 61.1 04.7 57.8 56.1 57.7 60.1 59.7 75.1 56.2 49.6 55.2 52.3 54.8 Contingent liability on bills purchased for foreign correspondents 44,236 3,296 15,009 4,466 4,380 1,734 l,6o4 5,811 1,518 954 1,258 1,214 2,992 FEDERAL RESERVE TOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 2,930,299 219,013 254,935 233,238 109,221 120,735 71b,64s 105,392 34,263 103,311 4?,l40 265,244 606,984 Held by Federal reserve bank 235,431 20,351 —Ik* 552 13,627 11,017 6,293 17,245 33,644 3,793 2,337 10.161 4.377 10.877 In actual circulation 2,744,863 199,267 590,432 241,308 277,221 102,92s 103,540 633,004 100,494 93,16s 37,263 234,367 81,87b Collateral held by agent as se~ curity for notes issued to bank Gold and gold certificates 1,059,074 47,010 439,724 79,320 71,470 12,920 13,500 254,845 21,210 12,635 9,6so 12,260 84,500 Gold fund - F, R. Board 1,122,065 117,517 147,000 73,180 111,030 57,030 51,500 369,000 43,300 28,700 50,800 10,725 62,263 Eligible paper 317,494 14,023 55,532 49,447 30,543 22,431 16,711 22,253 8,960 9,195 17,070 10,403 50,771 U. S. Gov1 t e securities 516,200 41,300 23,000 53,000 35,000 17,000 42,000 75,000 35,500 33,900 28,000 9,500 71.000 Total collateral 3,014,333 219,850 >75,356 254,947 298,013 109,481 123,711 721,09s 108,970 84,430 105,550 42,893 270,534 MATURITY DISTRIBUTION OF BILLS AZD SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to 50 days 6l to 90 v v days c * b a^ month ^ s Over 6 months Fills discounted 333,427 231,724 29,49s 33,929 26,144 6,371 701 Bills bought in open market 33,266 3,300 5,357 5,962 18,063 84 Certificates and bills 1,033,234 100,240 55,000 171,350 76,600 204,557 426,087 Municipal warrants 5,9U 5,031 60s - 50 172 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis