H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication 3-801 Friday morning, Nov. 11; Federal Reserve Board not earlier. November 10, 1932. CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve bank credit outstanding during the week ending November 9> as reported by the Federal reserve banks, was $2,223,000,000, a decrease of $5>000,000 compared with the preceding week and an increase of $128,000,000 compared with the corresponding week in l^jil. On November 9 total reserve bank credit amounted to $2,199,000,000, a decrease of $27,000,000 for the week. This decrease corresponds with decreases of $42,000,000 in member bank reserve balances and $3,000,000 in unexpended capital funds, nomaember deposits, etc., and increases of $4,000,000 in monetary gold stock and $11,000,000 in Treasury currency, adjusted, offset in part by an increase of $35,000,000 in money in circulation. Holdings of discounted bills declined $7,000,000 at the Federal Reserve Bank of New York, $3,000,000 each at Cleveland and San Francisco and £15,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market and of United States Government securities were practically unchanged. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending November 9, 1932, were as follows: Increase or decrease since Nov. 9 Nov. 2 Nov. 11 1932 1932 1931 (in millions of dollars) Bills discounted 311 -15 - 372 Bills bought 34 - 562 U. S. Government securities 1,851 +1,124 — Other reserve bank credit 3 -12 - 53 TOTAL RESERVE BA.T. CREDIT 2,199 -27 + 135 Monetary gold stock 4,270 + 4 76 + 172 Treasury currency adjusted 1,918 +11 Money in circulation 5,651 +35 + 134 Member bank reserve balances 2,342 -42 + 243 Unexpended capital funds,nonmembsr deposits,etc. 394 - 3 - 14b Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, November 11,1932; not earlier, B-801a RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHS COMB IIIED (in thousands of dollars) Nov. 9, 1932 Nov. 2, 1932 Nov. 11,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,225,469 2,207,934 1,635,806 Gold redemption fund with U.S.Treasury . 42,040 43,102 70,337 Gold held exclusively against F.R.notes 2,270,509 2,251,036 1,706,143 Gold settlement fund v/ith F. R. Board . 319,906 335.26s 396,679 Gold and gold certificates held by banks 419,230 417,343 723,825 Total gold reserves 3,009,645 3,003,647 2,826,647 Reserves other than gold . . . . . . .. 185 967 196,582 162,737 3,200,229 Total reserves 3,195,612 2,989,384 Non-reserve cash pgg 74,459 67,364 Bills discounted: ' " ' Sec. by U. S. Government obligations . 100,992 107,622 327,026 Other bills discounted 209,'961 218,422 356,73s Total bills discounted . . .. 310,953 326,044 083,764 Bills bought in open market "54,002 596,752 34,053 U. S. Government securities: Bonds 420,565 316,852 420,651 Treasury notes 362,872 26,950 362,874 Certificates and bills 1,067,160 383,661 1,067,258 1,850,697 Total U.S. Government securities . 1,850,783 727,463 Other securities ^ 31,599 5,425 Total bills and securities . . 2,201,079 2,216,305 2,039,57s Due from foreign banks 2 774 8,709 2,873 F. R. notes of other oamis • • « « »• 1.2 219 13,140 17,739 Uncollected items • "517 900 361,411 477,643 Bank premises [ * 58^169 52,137 59,410 All other resources 36,324 44,369 TOTAL RESOURCES . . .. 5,897,967 5,953,378 5,704,196 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,71^,299 2,700,818 2,449,959 Deposits: ' Member bank — reserve account . . .. 2,^42,333 2,334,097 2,098,533 Government "28,322 31,305 49,600 Foreign bank 10,717 9,888 133,008 Other deposits 2"^ 086 52,20s 28,389 Total deposits 2,4o4,458 2,453,679 2,333,349 Deferred availability items . . .. 355,005 461,933 Capital paid in l^p ObS 152,105 l64,44l Surplus 259:421 259,421 274,636 All other liabilities 43,738 19,87s 42,350 TOTAL LIABILITIES . . .. 5,897,967 5,963,378 5,704,196 Ratio of total reserves to deposit and F. R. note liabilities combined . . . 62.4$ 62.1% 62.5^ Contingent liability on bills purchased for foreign correspondents 37,916 108,862 38,847 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL.RESERVE BAMS OH NOVEMBER 9, 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. 36,885 Gold with Federal reserve agents 2,228,469 191,227 603,724 154,300 174,470 72,000 56,500 643,970 69,915 56,480 24,735 144,263 Gold redemption fund with U.S.Treasury 42,04q 3,043 4,762 5,165 5,^97 2,000 3.389 4,298 1.727 2.301 2,369 1.163 6.226 Gold held exclusively against F. R. notes 2,270,509 194,270 608,4s6 159,465 180,067 74,000 59,889 648,268 71,642 39,186 58,849 25,89s 150,489 Gold settlement fund with F.R.Board 319,906 16,820 69,645 13,398 29,133 7,875 6,331 103,7^7 11,082 9,979 1^.137 8,385 29,374 Gold and gold certif. held by banks 419,230 16,382 284,382 8.214 19,522 8,4-52 9,112 27,05o 5,724 2.322 11.030 4.l4l 22,893 Total gold reserves 3,009,645 227,472 962,513 181,077 228,722 90,327 75,332 779,071 88,448 51,487 84,Ol6 38,424 202,756 185,967 16,361 56,091 7,986 Reserves other than gold 25,545 13,520 8,022 5,124 27,402 4,415 5,298 7,123 9,080 3,195,612 243,833 806,473 96,434 55,902 211,836 Total reserves 1,018,604 206,622 242,242 98,349 80,456 89,314 45,547 Non-reserve cash 73,220 4,873 20,051 4,055 3,846 2,927 5,323 14,320 3,512 1,973 2,650 2,646 7,044 Bills discounted: 3,605 663 Secured by U.S.Govt, obligations 100,992 31,112. 12,543 9,l46 2,496 2,454 5,244 4,343 1,372 755 27,259 Other bills discounted 209,961 8.471 27,366 34,947 17,911 16,519 18,186 12.386 4.449 11,532 15,179 7,491 35,524 310,953 12,076 47,490 27,057 17,630 12,195 16,551 62,733 Total bills discounted 58,478 19,015 20,640 8,792 8,246 3,067 889 85S Bills bought in open market 34,002 2,338 10,371 3,211 3,097 2,070 4,122 1,008 634 2,337 U. S. Government securities: Bonds 420,665 20,347 188,228 31,173 36,492 9,650 9,549 40,776 13,941 17,179 H,775 16,287 25,268 362,872 6,623 26,613 Treasury notes 20,737 137,486 29,302 38,434 10,l6l 10,038 46,843 14,154 10,154 12,327 1.067.160 Certificates and bills 55,643 412,578 78,794 103,356 27,322 26.993 174.591 38,06l 27.298 33,150 17.811 71,563 1,850,697 96,727 139,269 66,156 Total U.S.Govt, securities 738,292 178,282 47,133 46,580 262,210 54,631 57,252 40,721 123,444 Other securities 5/427 3,921 1,297 21 HZ II II 209 ™ II 191,267 67,669 Total bills and securities 2,201,079 lll,l4l 811,062 208,436 68,218 70,287 283,962 75,956 7^,692 49,825 188,564 Due from foreign banks 2,774 229 929 310 290 115 106 403 19 12 83 80 198 F. R. notes of other banks 12,219 207 2,680 360 1,169 903 792 2,075 1,135 487 818 253 1,3^0 Uncollected items 317,900 36,596 83,366 24,595 29,178 2S,:84o 9,966 37,l4i i4,o64 8,320 17,024 13,457 15,353 58,169 3,336 3,619 Bank premises 14,817 2,§47 7,968 2,489 7,828 3,461 1,835 3,649 1,787 4,433 All other resources 36,994 1,138 19,327 715 1,201 3,045 3,852 1,635 1,026 1,76:7 858 1,328 1,102 TOTAL RESOURCES 5,897,967 401,353 1,970,836 430,871 494,330 206,016 173,2711,153,837 195,607 137,965 189,088 114,923 429,870 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON NOVEMBER 9, 1932 L I A 3 I L I B S (in thousands of dollars) 3-g01c Total Boston Few York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 2,715,299 194,576 526,369 240,014 274,745 101,317 99,031 674,489 101,649 79,130 90,810 39,361 233,50s Deposits: Member "bank - reserve account 2,342,333 135,693 1,123,254 115,173 1^0,133 52,517 4E,94I 377,074 60,209 35,666 65,240 43,620 141,813 Government 25,322 l,b35 12,265 1,964 2,150 2,177 2,070 654 655 1,216 146 1,882 Foreign tank 10,717 757 3,740 1,066 1,046 4i4 353 1,357 362 225 300 290 1,4 7 7 1 5 4 Other deposits 23,056 25 11,296 159 2,096 1,782 1,054 457 575 268 50 193 4,76s Total deposits 2,4o4,455 l4i,143 1,150,555 121,392 145,425 56,890 46,478 379,602 62,io4 40,378 65,736 45,955 145,770 Deferred availability items 322,953 33,285 54,166 24,042 28,696 29,721 9,731 4o,oo4 16,069 7,365 15,447 15,357 16,070 Capital paid in 152,06s 10,570 59,009 16,102 14,217 5,169 4,682 16,244 4,405 2,910 4,057 10,505 3,695 Surplus 259/421 20,039 75,077 26,486 27,640 11,483 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 43. i,i4o 15.660 2,835 3,607 1,436 2,900 5,087 1,355 1,826 1,914 2,668 3,310 TOTAL LIABILITIES 5,597,967 401,353 1,970,536 430,871 494,330 206,016 173,2711,153,837 195,607 137,965 159,055 114,923 429,870 Reserve ratio (per cent) 62.4 72.6 55.6 57.2 57.7 62.2 55.3 76.5 55.9 46.8 57.1 53.4 55.4 Contingent liability on bills purchased for foreign correspondents 37,9lb 2,937 11,566 3,951 3,904 1,546 1,430 5,179 1,353 850 1,121 1,052 2,667 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R,Bank by F.R.Agent 2,932,116 210,956 657,048 250,907 285,083 107,871 116,340 705,250 109, 5 5 9 6 51,652 99,535 44,524 263,051 Held by Federal reserve bank 216,817 16,080 70,679 10,893 10,335 6,554 17,309 30,761 7,947 2,522 9,028 5,163 29,543 In actual circulation 2,715,299 194,876 586,369 240,014 274,745 101,317 99,031 674,459 101,649 79,130 90,810 ' 39,361 233,50s Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,069,224 47,010 439, 724 78,490 71,470 12,920 13,500 261,970 21,315 13,885 9,680 12,260 87,000 Gold fund - F. R. Board 1,159,245 144,217 164, 000 75.810 103,000 59,080 43,000 352,000 4s,600 23,000 46,800 12,475 57,263 Eligible paper 294,355 12,042 56, 126 47,432 27,020 19,754 20,598 17,453 8,482 10,052 l6,043 5,075 51,278 U. S. Gov't, securities 424,900 s,4oo 50,000 55,000 17,000 41,000 47,000 31,300 35,400 25,000 11,800 70,000 Total collateral 2,947,757 211,669 659, 550 251,732 256,490 103,754 115,09s 708,423 109,697 82,367 100,523 44,613 265,541 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 310,953 221,935 26,756 34,253 is,325 5,205 1,419 Bills bought in open market 34,002 5,957 5,-517 8,69s 10,530 Certificates and bills 1, 067,160 120,750 69,000 6s,6oo 139,539 355,770 313,201 Municipal warrants 5,427 3,921 1,257 50 199 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis