H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Oct. 28; Federal Reserve Board not earlier. October 27, 1932. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending October 26, as reported by the Federal reserve banks, was $2,219,000,000, a decrease of $16,000,000 compared with the preceding week and of $13,000,000 compared with the corresponding week of 1931. On October 26 total reserve bank credit amounted to $2,221,000,000, an increase of $2,000,000 for the week. An increase of $86,000,000 in member bank reserve balances was approximately offset by increases of $30,000,000 in monetary gold stock and $7,000,000 in Treasury currency, adjusted, and decreases of $37,000,000 in money in circulation and $11,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills increased $10,000,000 at the Federal Reserve Bank of San Francisco and $8,000,000 at all Federal reserve banks. The System's holdings of United States Treasury notes increased $12,000,000, while holdings of Treasury certificates and bills decreased by the same amount. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending October 26, 1932, were as follows: Increase or decrease since Oct. 2b Oct. 19 Oct. 28 1932 1932 1931 (In millions of dollars) Bills discounted 322 + 8 - 395 - 691 Bills bought 34 1,851 U, S. Government securities +1,124 Other reserve bank credit 14 - 7 28 TOTAL RESERVE BANE CREDIT 2,221 + 2 + 10 Monetary gold stock 4,257 +30 - 31 Treasury currency adjusted 1,905 + 7 + 144 + 103 Money in circulation 5,584 -37 Member bank reserve balances 2,412 +86 + 183 387 -11 - 163 Unexpended capital funds,nonmember deposits,etc. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, October 28,1932? not earlier. B-SOla RESOURCES AH) LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Oct. 26.1932 Oct. 19,1932 Oct. 28,1931 R E S O U R C ES 2,204,064 2,211,864 1,519,190 Gold with Federal reserve agents . . .. Gold redemption fund with U. S. Treasury 43,746 47,573 70,171 2,259,437 1,589,361 Gold held exclusively against F.R.notes 2,247,510 315,031 304,922 379,959 Gold settlement fund with F. R. Board . Gold and gold certificates held by banks 429,782 391,246 769,111 Total gold reserves 2,992,623 2,955,605 2,738,431 Reserves other than gold 198,809 196,523 164,420 2,902,851 Total reserves . . .. 3,191,432 3,152,128 Eon-reserve cash 85,171 80,879 71,740 Bills discounted: 98,127 Sec. by U. S. Government obligations . 111,544 330,747 Other bills discounted 210,778 215,412 385,933 313,539 716,680 Total bills discounted . . . 322,322 Bills bought in open market 33,695 33,583 724,680 U. S. Government securities: 420,863 316,422 Bonds 420,311 Treasury notes 363,281 352,086 22,829 1,078,050 Certificates and bills 1,066,257 387,708 Total U.S. Government securities 1,850,949 1,850,999 726,959 Other securities 5,^25 5,437 29,919 Total bills and securities 2,212,391 2,203,558 2,198,238 2,698 Du.e from foreign banks 2,863 8,792 15,900 16,863 F. R. notes of other banks 18,321 Uncollected items 332,923 404,398 432,579 Bank premises . . , 58,137 58,135 59,382 38,012 4l,104 .All other resources . 38,872 TOTAL RESOURCES 5,940,115 5,955,708 5,731,549 L I A B I L I T I ES 2,688,871 2,717,430 2,383,948 F. R. notes in actual circulation . . .. Deposits: Member bank - reserve account . . . .. 2,411,946 2,325,546 2,228,875 Government 28,078 27,164 39,141 157,618 Foreign bank .. 9,352 10,280 34,431 Other deposits 20,117 28,820 2,460,065 Total deposits . . . 2,469,993 2,391,810 428,863 Deferred availability items 326,987 391,777 Capital paid in 152,303 153,018 164,648 Surplus 259,421 259,421 274,636 AH other liabilities 42,540 42,252 19,389 5,940,115 5,955,708 5,731,549 TOTAL LIABILITIES . . .. Ratio of total reserves to deposit and F. R. note liabilities combined . . . . 61.9 £ 61.756 59.9# Contingent liability on bills purchased for foreign correspondents 37,993 41,766 82,879 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BAEC3 Oil OCTOBER 26, 1932 R E S O U R C ES (in thousands of dollars) B-SOlb Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,204,064 190,027 603,724 149,500 174,4/0 69,000 59,000 643,970 64,560 36,935 57,480 22,135 133,263 Gold redemption fund with U.S.Treasury 43,746 3>104 5,208 5,351 5,7% 2,144 3,272 4,595 1,758 2,340 2,4p4 1,225 6,602 Gold held exclusively against F. R. notes 2,247,210 193,131 60S,932 154,851 180,213 71,144 62,272 648,565 66,318 39,275 59,884 23,360 139,865 Gold settlement fund with F. R. Board 315,031 10,885 117,292 10,830 28,114 4,623 5,421 94,473 8,390 7,336 8,315 6,106 13,246 Gold and gold certif. held by banks 429,782 18,072 282,483 7,431 19,560 8,333 9.021 25,994 5.955 3.691 11.067 4,193 13.982 Total gold reserves 2,992,623 222,088 1,008,707 173,112 227,887 84,100 76,7l4 769,032 80,663 50,302 79,266 33,659 187,093 8,695 Reserves other than gold 198,809 17,931 57,802 28,166 16,015 5,322 29,577 8,282 4,092 5,496 7,502 9,929 Total reserves 3,191,432 240,019 1,066,509 201,278 243,902 92,795 82,036 798,609 88,945 54,394 84,762 4l,l6l 197,022 Non-reserve cash 85,171 5,586 21,487 4,634 4,311 3,901 6,443 15,035 4,064 2,4O4 3,669 3,46s 10,169 Bills discounted: Secured by U.S.Govt, obligations 111,544 4,751 32,641 12,659 9,598 2,824 2,397 5,848 4,182 799 889966 668833 3344,,226666 Other bills discounted 210,778 8,232 29,992 35,705 17,232 16,480 17,952 12,222 4,147 11,476 15,604 s,6s4 33,052 Total bills discounted 322,322 12,983 62,633 4s,364 26,830 19,304 20,349 18,070 8,329 12,275 16,500 9,367 67,318 Bills bought in open market 33,695 2,353 10,152 3,232 3,116 2,260 2,612 4,149 1,009 634 895 864 2,419 U. S. Government securities: Bonds 420,811 20,348 188,229 31,173 36,492 9,650 9,605 40,776 13,941 17,267 11,775 1166,,223377 2255,,226688 Treasury notes 363,881 20,795 137,859 29,384 38,544 10,189 10,07S 46,965 14,194 10,181 12,362 6,642 26,688 Certificates and bills 1,066,257 55,584 412.204 78,712 103.246 27,293 26,964 174,569 38.021 27,269 33.115 17.792 71.483 Total U.S.Govt, securities 1,850,949 96,727 738,292 139,269 178,282 47,132 46,647 262,310 66*156 54,717 57,252 40,721 123,444 Other securities 5,425 • """ 3,919 1,297 — — —— — — 209 Total bills and securities 2,212,391 112,063 814,996 192,162 208,228 68,696 69,60s 284,529 75,494 67,835 74,647 50,952 193,181 Due from foreign banks 2,868 212 1,156 287 269 107 99 374 17 11 77 75 184 F. R. notes of other banks 18,321 309 6,735 515 584 1,125 1,144 1,920 1,252 592 1,328 24s 2,519 Uncollected items 332,923 39,827 88,360 29,033 29,822 28,283 8,676 38,478 14,691 8,057 17,284 12,269 18,143 "Sank premises 58,137 3,336 14,817 2,915 7,968 3,619 2,489 7,828 3,461 1,335 3,649 1,787 4,433 All other resources 38,872 1,346 20,706 73U 1,220 3,086 3,752 1,863 1,050 1,736 872 1,259 1,24s TOTAL RESOURCES 5,940,115 402,698 2,034,816 431,558 496,304 201,612 174,2471^48,636 182,974 136,864 186,288 111,219 426,899 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH OCTOBER 26, 1932 L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F,R.notes in actual circulation 2,680,871 197,o4i 570,719 237,744 273,535 101,620 100,560 671,636 99,890 79,154 29,952 37,731 229,289 Deposits: 2,411,946 129,976 1,214,190 117,303 142,346 49,770 43,035 374,860 54,33s 37,036 64,862 Member bank - reserve account 43,336 l4o,844 Government 28,073 3,065 4,231 2,696 2,582 2,088 2,323 2,052 1,692 1,536 1,726 2,221 1,266 Foreign bank J 628 4,237 350 834 330 306 1,106 289 102 239 231 570 29 6,08b 173 2,189 2,279 719 1,516 l,04l 314 73 Other deposits 20,117 52 5,046 Total deposits 2,469,993 133,69s 1,229,994 121,022 147,951 54,467 46,383 379,534 57,360 39,068 66,900 45,890 147,726 326,937 39,902 84,637 27,422 29=338 27,433 9,030 37,642 15,934 7,570 16,386 Deferred availability items 13,186 18,402 152,303 10,870 59,006 16,106 5,170 16,297 4,407 2,909 4,057 Capital paid in 14,209 4,864 3,898 10,510 259,421 20.039 26,486 27,640 11,483 38,4ll 10,025 6,356 8,124 Surplus 75,077 10,4^9 7,624 17,707 All other liabilities 42,^-0 1,148 15,333 2,778 3»5Sl 1,434 2j5i 3,116 1,35s 1,807 869 2,890 3,265 TOTAL LIABILITIES 5,940,115 402,698 2,034,816 431,558 496,304 201,612 174,247],l4s,636 188,974 136,864 186,288 111,219 426,899 Reserve ratio (per cent) 61.9 72.6 59.2 56.1 57.9 59.5 55.8 76.0 56.6 46.0 54.0 49.2 52.3 Contingent liability on bills purchased for foreign correspondents 37,993 2,869 12,553 3,888 3,812 1,510 1,396 5,058 1,321 830 1,095 1,057 2,6o4 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F,R„Bank by F.R.Agent 2,931,112 218,751 647,753 249,97s 283,85b 109.162 119,494 702,993 108,666 82,726 101,089 43,62s 263,016 DC_ei "eserve bank 242.241 21,710 77,034 12,234 10.321 7o4? IS 334 31.357 8,770 3,572 11,137 5,897 33,727 In actual circulation 2,688,571 197,o4i 570,719 237,744 273,535 101,620 100^560 671,636 99,890 79,154 89,952 37,731 229,289 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,057,649 47,010 439,724 79,320 71,470 12,920 13,500 261,970 21,360 12,435 9,680 12,260 76,000 Gold f-md - F. R. Board 1,146,415 143,017 164,000 70,180 103,000 56,080 45,500 382,000 43,200 24,500 47,800 9,875 57,263 Eligible paper 306,282 12,894 60,291 48,405 26,787 20,271 20,007 17:835 8,173 10,391 16,011 9,267 55,900 U.S. Gov't, securities 451,200 15,900 — 53,000 85,000 20,000 41,000 47,000 36,000 35,900 29,000 12,400 76,000 Total collateral 2,961,546 218,821 664,015 250,905 286,257 109,271 120.007 70S..855 103,733 83,226 102,491 43,802 265,163 MATURITY DISTRIBUTION OF BILLS Aim SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to oO days 6l to 90 days months^ Over 6 months Bills discounted 322,322 232,592 24,777 35,984 20,717 7,l42 1,110 Bills bought in open market 33,695 5,857 5,b39 11,575 10,574 Certificates bill; 1,066,257 39,500 120,850 69,000 167,663 233,056 436,188 Municipal warrants 5,425 5,176 10 239 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis