H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOB THE PRESS Heleased for publication B-801 Friday morning, Dec. lb; Federal Reserve Board not earlier. December 15, 1932. COTOITIOH OF FEDERAL B3S13VE BAITS Tne daily average volume of Federal reserve bank credit outstanding during the weex ending Decemoer l4, as reported by the Federal reserve banks, was $2,194,uOO,000, a decrease of $15,000,000 compared with the preceding week and an increase of $288,000,000 compared with the corresponding week in Ig^l. On December 14 total reserve bank credit amounted to $2,189,000,000, a decrease of $8,u00,000 for the week. This decrease corresponds with decreases of $5,000,000 in money in circulation .'B.r.d $4,000,000 in unexpended capital funds, nonmernber deposits, etc., and increases of $17,000,000 in monetary gold stock, and $10,000,000 in Treasury currency, adjusted, offset in part by an increase of $30,000,000 in member bank reserve balances. Holdings of discounted bills declined $10,000,000 at the Federal Reserve Bank of 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 bonds show little change for the week, while holdings of Treasury certificates and bills increased ^22,000,000 and those of United States Treasury notes 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 December 14 were as follows: Increase or decrease since Dec. 1-' Dec. 7 Dec. l6 1 12 1':' 32 1931 (in millions of dollars) Bills discounted 284 -15 - 4l4 Bills bought 34 - 273 Special Treasury certificates — — - 198 Other United States securities 1,851 +1,143 —— Other reserve bank credit 20 + 6 - 43 TOTAL RESERVE BAM CREDIT 2,189 - 8 + 215 Monetary gold stock 4,3$9 +17 - 89 Treasury currency adjusted 1,924 +10 + 113 Money in circulation 5,654 - 5 + 86 Member bank reserve balances 2,425 +30 + 257 Unexpended capital funds,nonmernber deposits,etc. 393 - 4 - 104 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released, for publication Friday morning, December l6,1932; not earlier. B-SOla RESOURCES AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec. 14.1932 Dec. 7,1932 Dec. 16.1931 R E S O U R C ES Gold with Federal reserve agents 2,282,899 2,281,059 1,923,146 Gold redemption fund with U.S.Treasury . . 35,931 39,087 61,522 Gold held exclusively against F.R.notes 2,327,330 2,320,146 1,984,568 Gold settlement fund with F. R. Board . . 370,791 367,276 362,042 Gold and gold certificates held "by banks . 394,716 390,641 635,334 Total gold reserves 3,093,337 3,078,063 2,982,044 Reserves other than gold 155,770 185,054 162,586 Total reserves 3,279,107 3,263,117 3,144,630 Non-reserve cash 7744,,444499 73,324 61,560 Bills discounted: Sec. by U.S.Government obligations . . . 87,953 95,513 358,117 Other bills discounted 196,520 203,105 339,791 Total bills discounted . . 234,473 298,618 697,908 Bills bought in open market 3333,,776699 33,717 307,077 U. S. Government securities: Bonds 420,669 420,637 317,738 Treasury notes 357,448 379,175 20,558 Saecial Treasury certificates 197,500 Other certificates and bills . . . .. 1,072,609 1,050,865 369,598 Total U.S. Government securities . . 1,850,726 1,850,677 905,694 Other securities 5.37S 5,337 30,672 Total bills and securities . . . 2,174,346 2,188,349 1,941,351 Due from foreign banks . . . 2.7S1 2,854 8,774 F. R. notes of other banks 13,455 14,436 15,658 407,925 323,983 574,585 Bank premises 58,211 58,211 59,501 All other resources . . 42,889 40,351 37,021 TOTAL RESOURCES 6,053,163 5,964,625 5,843,080 L I A B I L I T I ES F. R. notes in actual circulation . . .. 2,713,935 2,723,666 2,528,332 Deposits: Member bank - reserve account 2,424,532 2,395,484 2,167,802 Government 23,700 30,837 2,870 10,293 14,010 101,402 Other deposits 26,349 26,485 36,754 Total deposits . . . 2,484,874 2,456,816 2,308,828 Deferred availability items . 396,415 318,614 550,981 Capital -paid in . . .. ' 151,415 151,522 160,670 Surplus 259,421 259,421 274,636 All other liabilities . 47,103 44,586 19,633 TOTAL LIABILITIES 6,053,163 5,964,625 5,843,080 Ratio of total reserves to deposit and F. R. note liabilities combined 63.156 62.9$ 65.0$ Contingent liability on bills purchased for foreign correspondents 35,9H 36,117 214,446 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AITD LIABILITIES OF TEE FEDERAL RESERVE 5A1CZS OH DECEMBER l4, 1932 R E S O U R C ES (in thousands of dollars) B-SOlb Total Boston Hew York phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. llans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,238',899 183,327 607,444 156,000 182,470 74,500 50,000 666,870 69,915 40,120 ol,4S0 20,j60 176,013 C-old redemption fund with U.S.Treasury 38,931 1,686 3,634 5,381 5,814 1,869 3,4l4 3,743 1,610 2,355 2,217 1,313 5,895 C-old held exclusively against F. R. notes 2,327,330 185,013 611,073 161,381 188,284 76,369 53,414 670,613 71,525 42,475 63,697 22,073 181,908 Gold settlement fund with F.R. Board 370,791 11,137 130,764 23,050 32,597 11,334 5,149 97,329 7,806 7,152 10,049 7,992 26/432 Gold and , ;old certif. held by banks 394,716 14,867 270,111 7,495 18,761 2,961 9,H7 23,010 5.630 2; 599 9,854 4,279 20,93g Total gold reserves 3,093,337 211,017 1,011,953 191,926 239,642 90,664 67,630 795,952 85,011 52,226 83,600 34,344 229,322 Reserves other than gold 185,770 16,534 59,723 19,173 9,736 7,841 5,243 27,051 9,865 5,617 6,843 8,567 9,522 Total reserves 3,279,107 227,601 1,071,681 211,099 249,378 93,505 72,923 823,003 94,376 57,843 90,443 42,911 233,844 ITon-re serve cash 74,449 4,477 19,404 3,895 3,813 33,,007711 44,,9999ss 1144,,663333 33,,7722ss 22,,003333 33,,008855 33,,229900 8,022 Bills discounted: Secured by U.S.Govt, obligations 87,953 4,838 33,127 13,574 10,909 1,836 3,031 5,534 4,206 566 968 631 8,683 Other bills discounts 196,520 9,349 29,820 36,841 19,621 14,627 20,127 12,590 3,387 11,171 12,313 5,033 21,586 Total bills discounted 284,473 14,187 62,947 50,415 30,530 16,463 23,208 18,124 7,593 11,737 13,281 5,719 30,269 Bills bought in open market 33,769 2,261 9,971 3,070 22,,999955 1,976 33,,775500 33,,998877 997744 612 80O 883300 2,483 U. S. Government securities: Bonds 420,669 20,333 187,204 31,171 36,493 9,649 9,572 40,775 13,941 17,176 11,774 17,313 25,26s Treasury notes 357,448 19,512 144,137 27,566 36,15s 9,559 9,473 44,299 13,316 y.550 11,598 7,244 25,036 Certificates and bills 1,072,609 56,868 401,951 80,532 105,631 27,925 27,586 177,136 38,399 27,397 33,330 21,i64 73,140 Total U.S.Govt, securities 1,350,726 96,713 733,292 139,269 178,282 47,133 46,631 262,210 66,156 54,623 57,252 45,721 123,444 Other securities 5,378 3,942 1,047 389 — — —— — — — — Total bills and securities 2,174,346 113,161 810,152 193,801 211,807 65,572 73,589 234,321 74,723 67,361 71,393 52,270 156,196 Due from foreign banks 2,781 223 946 309 23s n4 106 4oi 17 11 S3 80 197 F. R. notes of other banks 13,455 232 3,738 - 466 3 6l >44 1,014 1,823 924 347 874 277 1,905 Uncollected items 407,925 45,409 120,297 42,633 37,872 33,390 10,667 42,351 15,231 7,944 17,785 13,617 20,679 Bank premises 53,211 3,336 14,317 2,989 7,96s 3,619 2,439 7,828 3,461 1,835 3,649 1,787 4,433 All other resources 42,889 971 22,270 3,215 1,321 2,334 4,050 1,542 1,159 1,787 828 1,291 1,621 TOTAL RESOURCES 5,053,163 395,^5 2,063,305 453,457 513,309 208,049 169,836^175,902 194,119 139,161 188,140 115,523 431,897 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AFD LIABILITIES OF THE FEDERAL RESERVE BMKS 'OF DECEMBER l4, I932 ' L I A B I L I T I ES (In thousands of dollars) B-SOlc Total Boston Few York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 2,713,935 197,942 577,724 241,033 285,135 102,023 96,662 673,765 102,591 79,995 91,651 3S,92S 226,456 F. R. notes in actual circulation Deposits: 2,424,532 117,935 1,206,979 125,80s 138,274 50,29s 42,154 393,07s 55,940 38,505 64,875 46,439 144,247 Member bank - reserve account 23,700 1,917 2,117 2,082 2,111 1,908 1,459 4,205 1,363 964 923 1,879 2,772 Government Foreign bank 10,293 783 3,351 1,061 i,o4o 412 381 1,380 360 227 299 288 711 26,349 81 12,052 176 3,78b 2,049 380 637 1,505 392 223 51 5,017 Other deposits 2,484,874 120,716 1,224,499 129,127 145,211 54,667 44,374 399,300 59,l6s 40,088 66,320 48,657 152,747 Total deposits 396,415 44,812 110,465 40,666 37,412 33,019 10,595 42,818 16,585 7,950 16,832 14,162 21,099 Deferred availability items 151,415 10,856 58,619 16,083 l4,i46 5,147 4,580 16,160 4,366 2,896 4,054 3,922 10,436 Capital paid in 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 Surplus 47,103 1,100 16,921 5,062 3,765 1,710 3,076 5,44s 1,384 1,876 1,129 2,230 3,402 All other liabilities 6,053,163 395,465 2,063,305 458,457 513,309 208,049 169,3361^75,902 194,119 139,161 188,140 115,523 431,897 TOTAL LIABILITIES 63.1 71.4 59.5 57.0 57.9 62.9 51.7 76.7 58.7 48.2 57.2 49.0 63.0 He serve ratio (per cent) Contingent liability on bills purchased for foreign correspondents 35,911 2,752 11,506 3,730 3,657 1,44s 1,340 4,852 1,267 797 1,050 l,0l4 2,49s FEDERAL RESERVE 1T0TE STATELETS Federal reserve notes: Issued to F.R.Bank by F.R.Af:ent 2,960,303 219,351 555,881 253,552 297,281 109,530 114,240 711,699 110,777 83,391 100,294 43,389 26o,4lS Held by Federal reserve bank 246,368 21,909 78,157 12,519 12,146 7,507 17,578 37,93^ 8,186 3,396 8,613 4,46i 33,962 2,713,935 197,942 577,724 241,033 235,135 102,023 96,662 673,765 102,591 79,995 9l,6si 38,923 226,456 In actual circulation Collateral held by agent as security for notes issued to banks 1,125,479 47,010 488,444 78,490 71,470 18,470 13,500 262,870 20,915 13,620 9,680 12,260 88,750 Gold and gold certificates 1,163,420 136,317 119,000 77,510 111,000 56,030 36,500 4o4,ooo 49,000 26,500 51,300 8,500 87,263 Gold fund - F. B. Board 268,735 14,162 6o,4o6 50,020 30,491 17,231 24,147 17,862 7,467 9,671 12,472 5,4s4 19,322 Eligible paper 426,300 22,400 48,000 85,000 18,000 41,000 32,000 33,500 33,900 27,000 17,500 68,000 U. S. Gov't, securities Total collateral 2,953,934 219,1 667,850 254,020 297,961 109,731 115,147 716,732 110,882 33,691 100,952 43,744 263,335 MATURITY DISTRIBUTION OF BILLS AID SHORT TERM SECURITIES Total Within 15 days l6 to 30 days 31 to oO days 61 to 90 days months^ Over 6 months Bills discounted 284,473 198,229 22,9\6Cc9 32,119 19,724 9,700 1,732 Bills bought in open market 33,769 4,074 2,766 1,923 25,006 Certificates and bills 1,072,609 63,000 53,356 177,733 143,550 302,019 327,951 Municipal warrants 5,378 3,951 1,139 288 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis