H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication B-S01 Friday morning, Dec. 9; Federal Reserve Board not earlier. December 3, 1932. CONDITION OF FEDERAL RESERVE BAMS The daily average volume of Federal reserve bank credit outstanding during the week ending December 7, as reported by the Federal reserve banks was $2,209,000,000, an increase of $5,000,000 compared with the preceding week and of $277,000,000 compared with the corresponding week in 1931. On December 7 total reserve bank credit amounted to $2,197,000,000 a decrease of $5,000,000 for the week. This decrease corresponds with decreases of $16,000,000 in member bank reserve balances and $10,000,000 in unexpended capital funds, nonmember deposits, etc., and an increase of $14,000,000 in monetary gold stock offset in part by an increase of $21,000,000 in money in circulation and a decrease of $11,000,000 in Treasury currency adjusted. Holdings of discounted bills declined $12,000,000 at the Federal reserve bank of San Francisco and $10,000,000 at all Federal reserve banks. The System's holdings of bills bought in open market and of United States Government securities were practically unchanged since a week ago. Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 7, 1932, were as follows: Increase or decrease since Dec. 7 Nov. 30 Dec. $ 1932 1932 1931 (in millions of dollars) Bills discounted 299 w 10 - 426 Bills bought 34 1 - 355 - U. S. Government securities 1,351 +1,134 Other reserve bank credit 14 + 6 - 35 TOTAL RESERVE BANK CREDIT 2,197 5 + 317 Monetary gold stock 4,352 + 14 - 85 Treasury currency adjusted 1,914 11 + 13s Money in circulation 5,669 + 21 + 163 Member bank reserve balances 2,395 16 + 309 - Unexpended capital funds,nonmember deposits,etc 397 10 - 104 - Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 9,1932; not earlier. B-S01 RESOURCES AH!) LIJJBTLITIFS OF THE TlsELVE FEDERAL S3S3SV3 EAl'ICS COLE HIED (In thousands of dollars) Dec. 7,1932 %v. 30,1932 Dec. 9,1931 R E S O U R C ES Gold with Federal reserve agents . . .. 2,281,059 2,242,398 1,SOS,396 Gold redemption fund with U.S.Treasury . 39.08J 40,048 64,122 Gold held exclusively against F.R.notes 2,320,146 2,282,446 1,872,713 Gold settlement fund vdth F. R. Board . 367,276 339.926 • 397,296 Gold and gold certificates held by banks 39u)o4l 426,952 699,104 gotaL_gold reserves 3,078,063 3.049,324 2,969,118 Reserves other than gold 185,054 192,635 167,855 Total reserves 3,263,117 3.241,959 3.136.973 B i n T d " ™ :' '3,324 77,071 6 ,te 7 3 Sec. by U.S. Government obligations . 95.^13 103,253 377.525 Other bills discounted 203X05 205)720 347)657 Total bills discounted . . .. 298,618 308,973 725,182 Bills bought in open market 7^ ?]_? 34,880 189 219 U. S. Government securities: ®onds 420,637 420,714 „ 317,686 treasury notes 379,175 377»6g-f- ?•' 19,950 Certificates and bills 1,050,865 1,652,365- ^ ^ 379)557 Total U.S.Government securities . 1,850,677 1,850,766 717,193 Other securities 5,337 5,411 29,972 Total bills and securities . . 2,188,349 2,200,030 1,861,566 Due from foreign banks 2,854 2,861 8,725 F. R. notes of other banks . . . . .. ill 117.6 12 2^6 1R 8?8 Uncollected items 353)468 ^0:732 Baxir, premises 58,211 58,169 59,501 All otner resources 4?,35.1 39,880 39,674 TOTAL RESOURCES 5,964,625 5.985,694 5,600,482 L I A B I L I T I ES F. R. notes in actual circulation . . . 2,723,666 2,692,286 2,484,892 Deposits: Member bank - reserve account . . .. 2,395,484 2,410,594 2,086,008 Government 30,837 23,535 28,595 Foreign bank 14,010 25,947 117,674 Other deposits 26,485 24,150 27,221 Total deposits 2,466,81b 2,484,226 2,259,495 Deferred availability items 318,614 354,109 400,648 Capital paid in 151,522 151.591 l6o,g47 r S L i w i i w . ; : : : : : : :: J# _ 5l TOTAL LIABILITIES . . . 5,964,625 5.985,694 5,600,482 Ratio of total reserves to deposit and. F. R. note liabilities comoiiied , 6 2 . 6 2 . 6% 66,1^ • # Contingent liability on bills purchased for foreign correspondents . . 36,117 32.329 168,486 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AKD LIABILITIES OF THE FEDERAL RESERVE BAMS OH DECEMBER 7, 1932 R E S O U R C ES (j thousands of dollars) B-801"b n Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Sold with Federal reserve agents 2,281,059 191,127 605,6l4 165,000 179, %70 73,000 51,500 656,870 69,090 1+0,135 6l,%S0 21 760 166 Oil Gold redemption fund with U.S.Treasury 39,057 1,776 3,783 5,15% 5,884 1,880 !.%!% 3.774 1.6l6 2.360 2.221 i!tl6 r'qoq Gold held exclusively against m ^ F. R. notes 2,320,146 192,903 609,397 170,154 185,35% 74,880 54,914 660,644 70,706 42,495 63,701 2^,076 171 922 :% m « ^ «•% ^ «•% Total gold reserves 3,07S,Od3 221,697 970,696 20S,4b2 239,228 91,04l 70,233 790,582 85,251 54,722 87,592 35,415 223,144 Reserves other than gold 185,054 16,707 58,586 20,420 10,201 7,842 5,235 26,939 9,801 5,101 6,321 '8^074 9^827 Total reserves 3,263,117 238,404 1,029,282 228,882 249,429 93,883 75,%6S 817,521 95,052 59,823 93,913 43,489 232,971 Ton-reserve cash 73,324 4,233 20,831 4,098 3,559 2,953 4, 4 14,245 3,515 2,222 2,544 2!96s Bills discounted: v *J- 9 5 ,y 7,211 Secured by U.S.Govt, obligations 95,513 4,535 3%,323 13,783 9,708 1,930 2,993 5,874 4,017 701 965 555 15 R7Q Other bills discounted 203,105 9,313 30,537 36,496 21,246 15,418 19.665 12.735 3.578 11.116 12.195 5.506 ?l\Qon Total bills discoTJjitej, 29s,6lS i ,8'48 65,360 0,2T9 30,954 17,398 22,658 ls,So 7,595 12,017 13,360 6,061 40,479 3 5 9 Bills bought in open market 33,717 2,26l 9,596 3,065 2,995 l.9%6 3,745 3,987 974 612 S60 830 2 546 U. S. Government securities: Bonds 420,637 20,334 187,205 31,171 36,492 9,647 9,545 40,776 13,940 17,170 11,774 17,314 25,269 Treasury notes 379,175 20,785 152,195 29,369 38,523 10,185 10,062 46,942 14,187 10,180 12,35b 7,718 26,673 Certificates and bills 1,050,865 55,59% 393,892 78,729 103,267 27,301 26,973 174,492 38.029 27.275 33,122 20.689 71.502 Total U.S.Govt, securities 1,850,677 96,713 733,292 139,269 178,282 47,133 46,580 262,210 66,156 54,625 57,252 45,721 123,444 Other securities 5,337 — 3,972 1,04-7 — — — 313 Total bills and securities 2,188,3%9 112,822 812,520 193,660 212,231 66,477 72,983 284,806 74,725 67,572 71,472 52,612 166,469 Due from foreign banks 2,854 228 1,019 309 289 ll4 106 401 17 11 83 80 197 F. R. notes of other banks 14,436 256 5,654 407 509 722 90S 1,627 1,398 405 910 331 1,309 Uncollected items 323,983 37,279 85,431 28,732 29,738 27,610 8,730 34,769 15,010 7,694 17,217 12,550 19*223 3aru-r premses 58,211 3,336 14,817 2,989 7,9=3 3,619 2,489 7,828 3,46l 1,835 3.649 1,787 4,433 All 0txier resources 40,351 976 22,064 1,170 1,334 2,852 4,08b 1,546 1.274 1,793 S4p 1,292 1.124 TOTAL RESOURCES 5,964,625 397.53% 1.991.61s 460,247 505,057 203,23 0169,7151,162,743 194,452 141,355 190,62s 115,109 432,937 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE'BANKS'ON DECEMBER 7, 1932 L I A B I L I T I ES (in thousands of dollars) 3-801c Total Boston Mew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. H. notes in actual circulation 2,723,666 198,787 583,615 240,136 282,815 102,210 97,296 675,063 102,510 80,439 92,128 39,391 229,276 Deposits: Member bank - reserve account ?, 395,484 124,115 1,151,637 144,967 139, 60 52,199 43,540 326,167 56,641 39,442 66,96s 45,127 145,421 Government 30,837 4,196 7,745 1,817 3,059 1,656 624 2,183 1,767 2,482 1,191 3,077 l,o4o Foreign bank 14,010 1,064 4,574 1,442 l,4l4 560 51s 1,876 490 30s 4o6 392 966 Other deposits 26,485 84 11,620 134 3,628 1,501 563 1,919 1,230 342 192 6a_ 5,203 Total deposits 2,466,816 129,4591 ,175,576 143,360 147,361 55,916 45,245 392,145 60,12s 42,574 6s,757 45,665 152,630 Deferred availability items 3l5,6i4 37,318 82,250 26,178 29,390 26,534 9,013 35,273 16,024 7,150 16,471 13,269 19,4l4 Capital paid in 151,522 10,856 52,617 16,083 l4,i46 5,172 4,632 16,203 4,4oo 2,893 4,055 3,928 10,487 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 1,075 L6,483 3,004 3,705 1,615 3,030 5,648 1,365 1,913 1,093 2,232 3.423 TOTAL LIABILITIES 5,964,62-5 397,534 1,991,61s 460,247 505,057 203,23 0169,7151^62,743 194,452 141,355 190,62s 115,10943 2,937 Reserve ratio (per cent) 62.9 72.6 5S.5 53.9 5S.0 62.5 52.9 76.6 58.4 48.6 58.4 49.4 61.O Contingent liability on bills purchased for foreign correspondents 36,117 2,752 11,713 3,729 3,657 1,448 1,340 4,852 1,267 797 1,050 1,014 2,49s FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.R.Eank by F.R.Agent 2,946,756 217,774 65 1 251,709 292,610 108,420 114,568 708,045 109,702 83,055 99,433 43,456 259.103 Held by Federal reserve bank 223,090 18,987 7 ' ^ 5 7 , 2 * oh• C 11 191,7,5 9 \75 3 s 6 1 \ ,210 s y ~ 7 ~ — i 17,2 > 7 — 2 1 — 3 ~ 2 — ,982 7 1 .1 7 9 —-v 2 — — 2 J I , ? 6 /- l — 6 1 <— 7 f .105 4.065 29 , • 8 1 2 •« 7 « * In actual circulation 2,723,666 198,7o? 553,615 240,136 282,815 102,210 97,296 675,063 102,510 80,439 92,128 39,391 229,276 i Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,133,339 47,010 496,614 78,490 71, 470 18,620 13,5 00 262,570 20,990 13,635 9,650 12,260 93,750 Gold fund - F. R. Board 1,142,1701 44,117 109,000 86,510 108, 000 54,380 38 ,000 394,000 48,100 26,500 51,800 9,500 72,263 Eligible paper 282,876 13,321 62,971 50,015 30, 919 18,122 23 ,543 18,355 7,449 9,513 12,453 5,376 29,809 U. S. Gov't, securities 408,600 13,400 37,000 85,000 18,000 4l ,000 37,000 33.300 TS.qOO 27.000 lo.OOO 67.000 Total collateral 2,972,535 218,34s 666,585 252,015 2953,8 9 109,122 lis,0 43 712,225 109,53 9S3,54s 100,963 43,636 262,822 MATURITY DISTRi: BUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days b months Over 6 months Bills discounted 298,618 214,371 22,697 30,209 20,403 9,279 1,659 Bills bought in open market 33,717 2,733 4,559 2,253 24,162 Certificates and bills 1,050,865 68,000 162,839 160,550 337,274 322,202 Municipal warrants 5,337 4,156 622 559 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis