H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-801 Friday morning, Nov. IS; Federal Reserve Board not earlier. November 17, 1932 CONDITION OF FEDERAL RESERVE BANES The daily average volume of Federal reserve "bank credit outstanding during the week ending November l6, as reported by the Federal reserve banks, was $2,205»vOO,000, a decrease of $18,000,000 compared with the preceding week and an increase of $169,000,000 compared with the corresponding week in I93I. On November l6, total reserve bank credit amounted to $2,208,000,000, an increase of $9»000,000 for the week. This increase corresponds with an increase of $5"1000,000 in member bank reserve balances, offset in part by increases of $14,000,000 in monetary gold stock and $11,000,000 in Treasury currency, adjusted, and by decreases of $22,000,000 in money in circulation and $2,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills declined $4,000,000 at the Federal Reserve Bank of San Francisco and the same amount at all Federal reserve banks. The System's holdings of United States Treasury notes increased $5,000,000, while holdings of Treasury certificates and bills declined by the same amount. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending November l6, 1932, were as follows: Increase or decrease since Nov. l6 Nov. 9 Nov. 18 1932 1932,. 1931 (in millions of dollars) Bills discounted 307 - 4 - 355 Bills bought 35 + l - 499 U. S. Government securities 1,851 +1,124 —— Other reserve bank credit 16 +12 - 32 TOTAL RESERVE BANK CREDIT 2,208 + 9 + 236 Monetary gold stock 4,284 +l4 86 Treasury currency adjusted 1,929 +11 + 154 Money in circulation 5,629 -22 + 158 Member bank reserve balances 2,400 +58 + 276 Unexpended capital funds,nonmember deposits,etc. 392 - 2 - 130 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, November 18,1932; 101 earlier. B-SOla RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANES COMBINED (in thousands of dollars) Nov. 16,1932 Nov. 9,1932 Nov., 18,1931 R ESQ. U R G ES Gold with Federal reserve agents . . .. 2,241,169 2,228,469 1,710,806 Gold redemption fund with U.S.Treasury „ 1+2,106 42,040 70,617 Gold held exclusively against F.R.notes 2,283,275 2,270,509 1,781,423 Gold settlement fund with F. R. Board 321,867 319,906 349,601 Gold and gold certificates held by banks 421,927 419,230 743,752 Total gold reserves 3,027,069 3,009,645 2,874,776 Reserves other than gold 192,382 185,967 168,046 Total reserves . . . . .. 3,219,451 3,195,612 3,042,822 Non-reserve cash 73,220 70,438 7755,,881177 Bills discounted: Sec. by U.S. Government obligations , 101,293 100,9.92 314,356 Other bills discounted 205,879 209,961 347,685 Total bills discounted 307,172 310,953 662,041 Bills bought in 00en market . . . . .. 34,524 34,002 534,017 U. S. Government securities: Bonds 420,693 420,665 316,505 Treasury notes . . .. 368,384 362,872 23,968 Certificates and bills 1,061,657 1,067,160 386,586 Total U,.S. Government securities 1,850,734 1,850,697 727,059 Other securities . .. 5,427 33,029 5,569 Total bills and securities . . 2,197,999 2,201,079 1,956,146 Due from foreign banks 2,749 2,774 8,706 F. R. notes of other banks 14,310 12,219 17,804 Uncollected, items 439,203 317,900 494,794 Bank premises 53,169 58,169 59,462 All other resources 33.157 36,994 42,442 TOTAL RESOURCES . . .. 6,045,855 5,397,967 5,692,614 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,699,747 2,715,299 2,433,392 Deposits: Member bank - reserve account . . .. 2,399,722 2,342,333 2,123,875 Government 26,036 28,322 23,571 Foreign bank 10,922 10,717 137,415 Other deposits 22,445 23,086 27,623 Total deposits 2,459,125 2,404,^58 2,312,484 Deferred availability items 431,775 322,983 483,060 Capital paid in 151,993 152,068 164,074 Surplus 259,421 259,421 274,636 All other liabilities 43,794 43,738 19,963 TOTAL LIABILITIES . . .. 6,045,855 5,897,967 5,692,614 Ratio of total reserves to deoosit and F. R. note liabilities combined . . . 62.4 fe 62.4$ 64.1$ Contingent liability on bills purchased for foreign correspondents 34,954 37,916 114,685 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BASKS OH NOVEMBER l6, 1932 R E S O U R C ES (In thousands of dollars) B-801b Total Boston Hew York Phila. Cleve. Rich., Atlanta Chicago St.Louis Minn. Kans,Cy» Dallas San Frail. ^ 6 0^ nx :S 3% * 1® ^ 1 :5 1 :% ^ ^f!" R. notes ^ ^ 2,283,275 188,258 6l4,386 159,397 183,304 73,488 55.871 653,230 72,837 39,181 60,844 24,996 153,483 S id S f g o i r L r U ^ i e V t y ' t a Sf 42^927 290^53 ^ A 03 19^25 8^551 8^892 27^77 5J89 10^939 ^ I g l j k j ^ O. Total sold reserves 3,027,069 216,865 998,745 179,852 230,170 84,679 72,922 778,846 88,451 51,532 85,788 35,540 203,679 Reserves other than gold 192,382 17,635 59,l6l 24,635 13,298 8,315 5,101 28,634 9,094 4,561—5^71—7,204 9,473 Total reserves 3.219,451 234,500 1,057,906 204,487 243,468 92,994 78,023 807,480 97,545 56,093 91,059 42,744 213,152 non-reserve cash 75,817 4,283 18,520 4,333 4,364 3,046 5,728 15,o4 3,7i4 2,164 2,682 2,733 9,203 7 • H S s s . "— « as as as s st a a a s is ,a a s; Total bills discounted 307,172 12,591 59,903 47,515 27,393 18,588 20,707 17,403 8,849 12,046 15,442 8,138 58,597 Bills -bought in open "market 34,524 2,338 10,391 3,l6»9 3,097 1,945 3,585 4,122 1,008 634 889 858 2,488 U*Bonds°Vernment secar" S' 1120,693 20,133 187,716 31,172 36,492 9,649 9,564 40,775 13,94l 17,206 11,774 16,801 25,270 Treasury notes 368,384 20,§13 140,563 29,550 38,76l 10,.247 10,127 47,208 14,274 10,248 12,432 7,222 26^839 Certificates and Dills 1.061.657 55,467 407,513 78,547 103,029 27,236 26,906 174,227 37,941 27,212 33,04b 19,198 71,335 Total U.S. Govt, securities 1,850,734 96,713 735,792 139,269 178,282 47,132 46,597 2o2,210 66,156 54,066 57,252 43,^21 123,444 Other securities 5,569 — 4,036 1,297 — " " §36 — — — Total bills and securities 2,197,999 111,642 810,122 191,250 208,772 67,665 70,889 283,735 76,013 67,582 73,583 52,217 184,529 Due from foreign "banks 2,749 229 903 310 290 115 106 403 19 12 83 81 19s F. R. notes of other banks 14,310 260 4,964 533 726 1,043 861 1,605 762 806 1,170 309 1,271 Uncollected items 439,203 49,839 121,637 38,504 41,954 35,293 ll,2b9 51,023 18,817 9,555 22,398 16,621 22,293 Bank premises 58,169 3,336 14,817 2,947 7*968 3,619 2,489 7,828 3,46l 1,835 3,649 1,787 4,433 All other resources 38,157 1,084 „ 20,070 718 1,450 3,048 3,890 1.674 1,011 1,764 890 1,338 1,220 TOTAL RESOURCES 6,045,855 405,173 2,o4g,939 443,082 508,992 206,823 173,255^68,795 201,342 139,811 195,514 117,830 436,299 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1932 HE30UJLC3J3 Ml LIABILITIES OF THE FEDERAL RESERVE BABES ON EOVElvIBER lb, L I A B I L I T I ES (in thousands of dollars) B-SOlc Total Boston ew York Phila. CIeve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.B.notes in actual circulation 2,699,74? 192,722 57s,5S7 237,714 277,0*45 100,844 9S,54s 671,569 101,282 78,72s 90,889 39,326 231,593 Deposits: .Member bank - reserve account 2,399,722 128,156 1,182,761 120,904 139,864 49,729 42,372 383,474 52,304 39,113 66,369 45,342 143,334 Government 26,036 2,130 6,853 1,590 1,865 1,512 1,932 1,026 2,613 1,374 2,045 1,274 1,222 Foreign bank 10,922 7S7 3,946 1,066 1,045 4i4 383 1,387 362 222 300 290 714 Other deposits 22,445 93 10,239 177 2,037 2,276 542 348 1,236 292 74 33 5,027 Total de-posits 2,459,125 131,166 1,203,799 123,737 144,811 53,931 45,229 326,235 62,515 41,013 62,728 46,944 150,957 Deferred availability items 431,775 49,220 116,702 36,196 41,624 33,990 11,474. 50,935 21,174 8,996 21,749 17,457 22,192 Capital paid in 151,993 10,256 52,921 16,093 14,217 5,169 4,622 lb,226 4,403 2,907 4,057 3,29s 10,504 Surplus 259,421 20,039 75,077 26,4s6 27,640 11,423 10,449 38,411 10,025 6,356 2,124 7,624 17,707 All other liabilities 43,794 1,110 15,793 2,856 3,655 ,l,4o6 2,873 5,119 1,343 1,811 1,907 2,521 3,340 TOTAL LIABILITIES 6,045,25 00 405,173 2,042,939 443,022 508,992 206,823 173,2551,162,795 201,342 139,811 195,514 117,230 436,299 Reserve ratio (per cent) 62.4 72.4 59.4 56.6 57.7 60.1 54.3 76.3 59.3 46.8 57.0 49.5 55.7 Contingent liability on bills purchased for foreign correspondents 34,954 2,625 il,l46 3,632 3,56s 1,413 1,307 4,734 1,236 777 1,024 989 2,437 FEDERAL RESERVE 1T0TE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 2,925,250 202,280 651,881 251,550 229,245 106,651 115,996 703,502 109,339 81,738 99,069 45,756 262,237 Held by Federal reserve bank 225,503 15,558 73,294 13,836 12,200 5,207 17,442 31,639 7,457 3,010 2,120 6,430 30,644 2,699,747 192,722 572,527 237,714 277,045 100,244 98,542 671,269 101,222 78,728 90,889 39,326 231,593 In actual circulation Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,073,224 47,010 440,724 72,490 71,470 12,920 13,500 261,970 21,315 13,885 9,680 12,2o0 90,000 1,167,945 138,217 169,000 75,210 106,000 58,520 43,000 337,000 49,200 23,000 48,200 11,475 57,263 Gold fund - F. B. Board Eligible paper 290,799 12,557 57,401 47,499 27,352 19,295 21,15s 17,228 8,679 9,802 14,946 7,79s 47,084 423,300 11,400 — 50,000 25,000 17,000 41,000 42,000 29,600 35,900 27,000 14,4oo 70,000 U. S. Gov't securities 2,955,262 209,184 667,125 251,799 289,822 107,795 118,652 708,198 109,394 82,587 100,426 45,933 264,347 Total collateral MATURITY DISTRIBUTION OF BILLS A1TD SHORT TERM SECURITIES , , , „ 91 days to To tal Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days g y Over 6 months mon ls Bills discounted 307,172 222,695 22,430 32,571 19,238 8,845 1,393 Bills bought in open market 34,524 6,186 11,382 9,179 7,771 Certificates and bills 1,061,657 120,249 124,600 150,739 346,269 319,200 I.iUnicipal warrants 5,569 4,293 1,000 133 143 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis