H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB TEE PRESS Released for publication B-801 Friday morning, Oct. l4; Federal Reserve Board not earlier. October 13, 1932. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending October 12, as reported by the Federal reserve banks, was $2,234,000,000, a decrease of $0,000,000 compared with the preceding week and an increase of $198,000,000 compared with the corresponding week in 1931. On October 12 total reserve bank credit amounted to $2,234,000,000, a decrease of $71000,000 for the week. This decrease corresponds with a decrease of $38,000,000 in member bank reserve balances and an increase of $7,000,000 in monetary gold stock, offset in part by increases of $2,000,000 in money in circulation and $25,000,000 in unexpended capital funds, noranember deposits, etc., and a decrease of $11,000,000 in Treasury currency, adjusted. Holdings of bills discounted decreased $5,000,000 at the Federal Reserve Bank of Mew York, $3,000,000 at Richmond and $5,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market and of United States bonds were practically unchanged, while holdings of United States Treasury notes decreased $6,000,000 and those of Treasury certificates and bills increased $6,000,000. Changes in the ajnount of reserve bank credit outstanding and in related items during the week and the year ending October 12, 1932, were as follows: Increase or decrease since Oct. 12 Oct. 5 Oct. 14 1932 1932 1931 (in millions of dollar s) Bills discounted 32S - 5 - 300 Bills bought 33 - 697 U. S. Government securities 1,851 +1,124 Other reserve bank credit 22 1 - 17 TOTAL RESERVE BAH CREDIT 2,234 - 7 + 109 Monetary gold stock 4, 208 + 7 - 216 Treasury currency adjusted 1,868 -11 + 93 Money in circulation 5,651 + 2 + 178 Member bank reserve balances 2,24b -38 + 23 Unexpended capital funds,nonmember deposits,etc 413 +25 - 215 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for p Miction Friday morning, October 14,1932; not earlier. B-SOla RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAKES COMBINED (in thousands of dollars) Oct. 12,1932 Oct, 5,1932 Oct_l}i122i s J R E S O U R C ES 2,198,090 2,181,139 1,653,575 Gold with Federal reserve agents . . .. U'UxLO 48,287. 57,028 Gold redemption fund with U«S Treasury . a 2,229,426 1,710,603 Gold heM exclusively against r.."'.-noles 2,245,700 299,055 300,570 332,4s6 Gold settlement fund v/i til F, R. Board . __ 387,202 332,532 736,925 Gold and gold certificates hsld by banks 2,912,52s 2,836,014 Total gold reserves . . .. 2,9?l>953 192,073 196,940 157,786 Reserves other than gold . . . . . •• 3,109,468 2,993,800 Total reserves . . . 3,124,031 76,681 63,338 73,476 Fern-reserve cash . .. Bills discounted: 106,946 298,457 Sec. by U.S. Government obligations 103,226 226,481 329,122 224,321 Other bills discounted 627,579 Total bills discounted . . 327,667 333,427 33,266 730,407 33,273 Bills bought in open market U. S. Government securities: 317,734 421,189 420,768 Bonds 18,962 396,295 390,572 Treasury notes 1,033,834 _J%LJ3i Certificates and bills • • • • •• 1,039,550 Total U.S. Government securities 1,850,896 1,351,31s 727,431 5,911 19,026 5,422 Other securities Total bills and securities . 2,217,263 2,223,922 2,104,443 2,693 2,686 8,762 Due from foreign banks 15,35s 13,507 17,995 F. R. notes of other banks 374,122-7 <) 637,436 372,192 Uncollected items 58,134 58,127 59,310 Bank premises 45,064 40,906 45,251 All other resources . . .. 5,914,403 5,903.57^ 5,926,490 TOTAL RESOURCES . . .. C 1-a L I A B I L I T I ES 2,737,343 2,744,868 2,321,817 F. R. notes in actual circulation . . . Deposits: 2,245,791 2,283,965 2,223,023 Member bank - reserve account . . .. 23,877 27,444 50,05s Government 231,337 8,177 9,194 Foreign bank . . . . . 53,071 27,953 37,487 Other deposits 2,357,097 2,344,939 2,519,341 Total deposits 360,165^ ^'3 626,0 364,264 Deferred availability items » * * 152,966 165,886 153,040 Capital paid in 259,421 274,536 259,421 Surplus 4i,168 13,732 42,733 All other liabilities . 5,903,57% 5,926,490 TOTAL LIABILITIES . . .. 5,914,403 C11 Ratio of total reserves to deposit and 61. If. 6l.i F. R. note liabilities combined . . 61.356 Contingent liability on bills purchased 44,236 40,571 45,227 for foreign correspondents Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AZD LIABILITIES OF THE FEDERAL RESERVE BAEXS ON OCTOBER 12, 1932 R E S O U R C ES (in thousands of dollars) B-SOlb Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Sold with Federal reserve agents 2,198,090 162,027 586,725 153,500 177,^70 72,503 65,000 643,845 66,010 41,835 58,480 23,9351^6,763 Gold redemption fund with U.S.Treasury 47,610 3,324 5,S04 5,365 5,768 2,136 2,897 7,801 1,739 2,215 2,472 1,171 6,60S Gold held exclusively against F. R. notes 2,245,700 165,351 592,529 159,065 183,238 74,636 67,897 651,646 67,799 44,050 60,952 25,106 153,431 Gold settlement fund with F.R.Board 299,056 8,521 100,148 9,875 25,190 8,552 6,794 81,051 9,652 9,342 10,070 7,542 22,319 Gold and gold certif. held by hanks 387,202 17,027 244,326 b, 9 46 19,193 8,071 8,958 32,462 5,394 3,827 11,250 4,136 25,112 Total gold reserves 2,931,95s 190,899 937,003 175,886 227,621 91,259 83,649 765,159 83,345 57,219 82,272 36,784 200,862 Reserves other than gold 192,073 17,726 55,644 29,061 16,088 8,392 4,691 27,367 8,186 3,644 4,567 7,H9 9,588 Total reserves 3,124,031 208,625 992,647 204,947 243,709 99,651 83,340 792,526 91,531 60,863 86,839 43,903 210,450 ITon-reserve cash 73.476 5,251 17,987 4,582 3,u17 3,241 5,159 14,49s 3,825 2,211 3,475 3,016 6,814 Bills discounted: Secured by U.S.Govt, obligations 103,286 4,294 33,H5 13,224 11,253 2,829 2,248 5,715 4,054 690 1,132 811 23,921 Other bills discounted 224,381 8,616 30,364 35,493 20,470 16,661 16,857 15,971 4,792 10,270 15,601 9,812 39,474 Total bills discounted 327,667 12,910 63,479 48,717 31,723 19,490 19,105 21,686 8,846 10,960 16,733 10,623 63,395 Bills bought in open market 33,278 2,353 ,10,347 3,237 3,116 2,157 2,089 4,149 1,009 635 895 865 2,426 U. S. Government securities: Bonds 420,768 20,348 188,739 31,174 36,491 9,649 9,662 40,774 13,942 17,16s 11,776 15,776 25,269 Treasury notes 390,578 22,359 148,417 31,599 41,448 10,957 10,824 50,210 15,263 10,94? 13,293 6,562 28,69s Certificates and bills 1,039,550 78,520 379,136 76,496 100,343 26,527 26,206 171,326 36,951 26,502 32,183 15,883 69,477 Total U.S. Govt, securities 1,850,896 121,227 716,292 139,269 178,282 47,133 46,692 262,310 66,156 54,613 57,252 38,221 123,444 Other securities 5,422 3,917 1,323 —— — — — 182 Total bills and securities 2,217,263 136,490 794,035 192,546 213,121 68,780 67,886 288,145 76,011 66,395 74,880 49,709 189,265 Due from foreign banks 2,69s 212 986 287 269 107 99 374 17 11 77 75 184 F. R. notes of other banks 15,352 236 4,417 4ll 683 1,567 l,o4i 1,649 1,161 623 1,467 244 1,859 Uncollected items 378,192 39,106 89,852 26,703 33,061 37,752 14,131 42,940 26,049 10549 26,017 12,657 19,375 : Bank premises 58,134 3,33-6 14,817 2,914 7,968 3,617 2,^89 7,828 3,461 1,835 3,649 1,787 4,433 All other resources 45,251 1,370 26,399 1,045 1,221 3,234 3,811 1,995 1,116 l, 6s4 909 1,199 1,26s 5,914,403 394,626 1,941,140 433,435 503,449 217,949 203,171 144,171 112,590 433,648 TOTAL RESOURCES 182,9561,149,955 197,313 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES ATI) LIABILITIES OF THE FEDERAL RESERVE BAMS ON OCTOBER 12, 1932 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Fhila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.E.notes in actual circulation 2,737,843 200,525 533,870 243,173 277,90s 102,476 102,835 681,210 100,235 81,300 92,028 37,457 234,826 Deposits: Member bank «- reserve account 2,245,791 120,318 1,079,371 115,815 142,237 48,282 41,583 362,917 51,y9 63 37,579 62,697 43,850 139,179 Government 50,058 2,130 25,752 1,830 2,338 5,453 2,376 810 2,035 1,301 980 2,862 2,191 Foreign bank 8,177 627 2,613 850 334 330 306 1,106 289 182 239 231 570 Other deposits 53,071 . 32 14.621 194 2,024 3,779 6^, 06l 2 9,272 9,877 3,745 5,277 211 4,972 Total deposits 2,357,097 123,107 1,122,357 118,689 147,433 57,844 50,332 367,105 64,164 42,307 69,193 47,154 146,912 Deferred availability items 364,264 38,918 87,037 26,039 32,772 39,231 11,518 40,194 22,951 9,06s 22,949 13,020 20,517 Capital paid in 153,040 10,372 59,005 16,095 14,209 5,170 4,85s 17,018 4,428 2,909 4,059 3,907 10,510 Surplus 259,421 20,039 75,077 26,456 27,640 11,483 10,449 38,4ll 10,025 6,356 8,124 7,624 17,707 All other liabilities 42,738 1,165 13,794 2,903 3,487 1,745 2,964 6,017 1,36s 1,731 960 3,428 3,176 TOTAL LIABILITIES 5,914,403 394,626 1,941,l4o 433,435 503,449 217,949 132,956^.49,955 203,171 144,171 197,313 112,590 433,64s Reserve ratio (per cent) 61.3 64.5 58.2 56.6 57.3 62.2 57.7 75.6 55.7 49.0 53.9 51.9 55.1 Contingent liability on bills purchased for foreign correspondents 45,227 3,399 15,08b 4,60o 4,517 1,789 1,654 5,992 1,565 984 1,297 1,252 3,08b FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 2,963,79.3 221,283 659,756 253,590 287,974 108,847 120,184 712,334 109,437 84,579 102,871 43,167 264,771 Held by Federal reserve bank 230,950 20,753 75,886 10,417 10,066 6,371 17.349 31,124 9,202 ,279 10,843 5,710 29,945 In actual circulation 2,737,843 200,525 533,370 243,173 277,90s 102,476 102,835 681,210 100,235 81,300 92,028 37,457 234,826 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,059,075 47,010 439,725 79,320 71,470 12,920 13,500 254,845 21,210 12,635 9,630 12,260 84,500 Gold fund - F . R. Board 1,139,015 115,017 147,000 74,180 106,000 59,530 51,500 339,000 44,800 29,200 48,800 11,675 62,263 Eligible paper 311,916 12,819 61,094 48,734 31,610 20,391 18,213 21,188 3,738 9,213 16,627 10,522 52,767 U.S. Gov't, securities 495,000 46,700 20,000 53,000 35,000 17,000 40,000 55,000 35,400 33,900 30,000 9,000 70,000 Total collateral 3,005,006 221,546 667,819 255.234 294,030 109,391 123,213 720,033 110,148 84,94s 105,107 269,530 43,457 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days to Over 6 months u mon uns Bills discounted 327,667 230,672 23,590 36,152 25,026 6,340 887 "Bills bought in open market 33,273 5,142 9,766 3,085 10,285 Certificates and bills 1,039,550 39,456 36,600 189,749 61,600 231,057 431,083 Municipal warrants 5,422 4,442 758 — 68 154 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis