H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released, for publication B-B01 Friday morning, Dec, 2; Federal Reserve Board not earlier. December 1, 1932* CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal reserve "bank credit outstanding during the week ending November 30, as reported by the Federal reserve banks, was $2,20^,000,000, a decrease of 000,000 compared with the preceding week and an increase of $258,000,000 compared with the corresponding week in 1931 • On November 30, total reserve bank credit amounted to $2,202,000,000, practically unchanged from a week ago. Increases of &13,000,000 in money in circulation and $11,000,000 in member bank reserve balances were substantially offset by increases of $18,000,000 in monetary gold stock and a decrease of $3,000,000 in unexpended capital funds, nonmember deposits, etc. Holdings of discounted bills declined $4-,000,000 at the Federal Reserve Bank of San Francisco and increased $3,000,000 at Cleveland. The System's holdings of discounted. bills and of bills bought in open market show little change for the week, while holdings of United States Treasury notes increased $9,000,000 and 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 November 30, 1932, were as follows: Increase or decrease since Nov. 30 ov. 23 Dec. 2 1932 : 32 1931 (in millions of dollars) Bills discounted 309 + 1 - 403 Bills bought 35 - 3b'S U. S. Government securities 1,851 +1,134 Other reserve bank credit o - 39 TOTAL RESERVE BASK CREDIT 2,202 + 1 + 297 Monetary gold stock 4,333 +18 79 Treasury currency adjusted 1,525 Money in circulation 5, +13 + 139 Member "bank reserve "balances 2, 411 +11 + 338 Unexpended capital funds,nonmember deposits,etc. 407 - 3 - 113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 2,1932; not earlier. B-201a RESOURCES Aril) LIABILITIES OF TEE TWELVE FEDERAL EISTME BAI'.CS COMBINED (In thousands of dollars) Nov. 30,1932 I'Tov. 23,1932 Dec. 2,1931 R E S O U R C ES Gold with Federal reserve agents 2,242,398 2,230,351 1,747,531 Gold redemption fund with U.S.Treasury . . 4o,o4s 4oois 69,711 ; Gold held exclusively against F.R.notes 2,282,446 2,270,369 1,817,292 Gold settlement fund with F.R, Board . . . 339,926 333,487 361,42s Gold and gold certificates held by tanks , 426,952 443,296 762,850 Total gold reserves 3,04J,324. 3,053,152 2,941,570 Reserves other than gold 192,635 138,871 166,063 Total reserves 3,241,959 3,242,023 3,107,633 Eon-reserve cash 7777,,007711 74,001 65,313 Bills discounted: Sec. by U„S. Government obligations . . 103,253 105,304 363,707 Other bills discounted 205,720 202,2l6 353,860 Total bills discounted 308,973 307,520 717,567 Bills bought in open market 34,880 34,646 423,407 U. S. Government securities: Bonds 420,714 420,713 316,484 Treasury notes 377,6s?- ^ 368,677 19,950 Certificates and bills 1,052,365 .^ 7 1,061,359 380,587 Total U.S.Government securities 1,850,766 1,850,749 717,021 Other securities 5,411 5,350 30,232 Total bills and securities . . 2,200,030 2,193,265 1,888,227 2,861 2,731 8,724 F. R. notes of other banks 12,256 14,110 • 15,694 Uncollected items 353,468 333,500 451,277 Bank premises . . . . . .. 5,8,169 53,169 59,475 All other resources 39,sso 39,259 41,102 TOTAL RESOURCES 5,985,694 5,962,10s 5,637,445 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2,692,236 2,694,423 2,478,130 Deposits: Member bank - reserve account 2,410,594 2,400,351 2,073,454 Government 23,535 25,942 22,333 25,947 29,869 137,136 Other deposits 24,150 22,739 25,451 Total deposits 2,454,226 2,473,901 2,255,374 Deferred availability items 354,109 333,630 443,27s Capital paid in 151,591 151,969 163,589 Surplus 259,421 259,421 274,636 All other liabilities 44,o6l 43,759 19,43s TOTAL LIABILITIES . . .. 5,935,694 5,962,10s 5,637,445 Ratio of total reserves to deposit and F. R. note liabilities combined . . .. 62.6% 62.7 $ 65.6 % Contingent liability on bills purchased for foreign correspondents 32,329 33,458 134,053 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BAMS ON NOVEMBER 30, I932 R E S O U R C ES (In thousands of dollars) Gold held exclusively against r;Hx.tv«r IIS IS Si 'Is 1111:11 IE "S 1111!»IS ::: 1:: % t'S -s Total reserves 3.21+l 959 222,905 1,080,800 222,870 242,694 92,357 73,^3 812,697 94,915 55,054 89,806 42275 2 1 2^ ) ^on-reserve cash 77,071 3,724 20,71b 4,267 4,077 3,190 5,714 14,245 3,722 2,150 2,664 3,078 9,464 Bills discounted: Other bills discerned ^ Total tills discounted 305,57) lU,l 61,577 50,355 30,36) 18,121 22,581 lS.RltQ 39 7,532 12,728 13,901 7,202 51,861 Bills Dought in open market 34,880 2,33s 10,262 3,169 3,05,6 2,137 3,782 4 122 U, S. Government securities: 94 t, ' 1,008 634 889 858 2,585 «"• JSf lil IlliiSII II 11,11 g;l iE IS IS II 13,939 17,234 11,775 16,802 ^nssr 14,087 10,116 12,26s 7,127 38,130 27,348 33,209 19,292 17.:2S2 4':132 46'®7 2fe:210 661156 5 M 5S 57,252 U 3-2 2 1 i 2^" 283 Potal "bills and securities 2,200,030 113,190 811,712 193,840 211,743 67,450 72,962 284,881 74,696 68,343 72,042 TOTAL RESOURCES 5,9^5,694 38b,045 2,062,023 454,456 500,526 197*956 16s,7173,159,543 192,770 138,342 126,699 112,024 424,593 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES MID LIABILITIES OF TEE FEDERA.L RESERVE BAM:S OF FQymBER ]0, 1932 L I A B I L I T I ES (in thousands of dollars) B-S01 Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas S&n Fran. F. R. notes in actual circulation 2,692,28b 152,834 533,162 238,016 277,887 100,176 96,3^6 667,755 101,015 79,217 89,350 38,921 227,107 deposits: Member bsnk - reserve account 2,410,594 115,86s 1,199,755 139,231 139,992 48,756 41,133 386,606 55,510 37,360 64,054 43,624 133,205 Government 23,535 1,883 2,402 725 821 1,967 2,11+6 4,352 2,501 840 1,84s 1,806 2,164 Foreign bank 25,947 l,84l 9,620 2,495 2,447 569 896 3,246 343 533 703 673 1,671 Other deposits 24,150 60 11,754 179 3,043 1,559 407 329 1,399 306 220 5s 4,836 Total deposits 2,484,226 119,b52 53,251 44,532 394,533 60,253 39,539 66,825 46,246 146,876 Deferred availability items 354,109 43,595 105,535 28,252 30,336 26,334 9,680 37,309 15,716 8,422 16,294 13,003 19,053 Capital paid in 151,591 10,857 58,617 16,093 14,215 5,172 4,632 16,211 4,4oo 2,301 4,057 3,899 10,437 Surplus 259,421 20,039 11,433 10,449 38,411 10,025 6,356 8,124 7,624 17,707 All other liabilities 44.. 061 1,06s 16,051 2,949 3,645 1,540 2,973 5,324 1,356 1,907 1,5^9 2,331 3,363 TOTAL LIABILITIES 5,935,694 338,045 2,062,023 454,456 500,526 157,956 l68,717V59,543 192,770 133,342 is6,099 112,024 424,593 Reserve ratio (per cent) 62.6 71.3 59.8 53.6 57.2 60.2 52.1 76.5 53.9 46.4 57.3 49.6 56.7 Contingent liability on bills purchased for foreign correspondents 32,325 2,422 10,854 3,282 3,218 1,274 1,179 .4,270 1,115 701 924 892 2,195 FEDERAL RESERVE F0TE STATEMENT Federal reserve notes: Issued to F.R.Bank by F.R.Agent 2,513,633 211,464 651,995 250,039 289,939 106,330 114,352 656,792 108,365 81,710 97,844 43,399 260,454 Held by Federal reserve bank 221,397 18,630 68,833 12,023 12,052 6,154 is,006 29,037 7,350 2,493 7,994 4,973 33,347 In actual circulation 2,692,286 192,834 583,162 235,016 277,887 100,176 96,346 667,755 101,015 79,217 89,850 38,921 227,107 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1, Oc 35.3 47,010 451,17s 78,490 71,470 12,920 13,500 263,870 21,090 13,885 9,680 12,260 90,000 Gold fund - F. R. Board 1,157,045 132,111 159,000 85,010 107,000 57,530 37,000 384,000 48,900 22,000 51,800 10,375 62,263 Eligible paper 293,944 14,111 59,216 50,235 30,333 15,050 23,387 18,316 7,399 I0,4s. 6. .. .1. 37,,305504 40,997 U.S. Gov* t. securities 4i4,4oo 18,400 37,000 85,000 13,000 42,000 37,000 31,600 35,900 25,000 14,500 70,000 Total collateral 2,950,742 211,63s cc 6 9,394 250,735 293,803 107,550 115,887 703,186 108,989 82,281 99,830 44,189 263,260 MATURITY DISTRIBUTION OF BILLS ArTD SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to bO days bl to 90 days Over 6 months 6 months Bills discounted 308,973 224,502 22,795 30,572 20,088 9,415 1,601 Bills bought in open market 34,880 11,276 7,350 7,319 8,435 Certificates and bills 1,052,365 70,500 149,064 164,325 347,270 321,206 Municipal warrants 5,411 5,038 10 313 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis