H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR TEE PRESS Released for publication B-801 Friday morning, Dec. 23; Federal Reserve Board not earlier. December 22, 1932. CONDITION OF FEDERAL RESERVE BATIKS The daily average volume of Federal reserve bank credit outstanding during the week ending December 21, as reported by Federal reserve banks, was $2,192,000,000, a decrease of $2,000,000 compared with the preceding week and an increase of $227,000,000 compared with the corresponding week in 1931® On December 21 total reserve bank credit amounted to $2,180,000,000, a decrease of A9,000,000 for the week. This decrease corresponds with an increase of $119,000,000 in monetary gold stock, offset in part by increases of $oo,u00,000 in money in circulation, $21,000,000 in member bank reserve balances and $8,000,000 in unexpended capital funds, nonm ember deposits, etc., and a decrease of $14,000,000 in Treasury currency, adjusted. Holdings of discounted "bills declined $6,000,000 at the Federal Reserve Bank of San Francisco, $3,000,000 each at Cleveland and Atlanta and $l4,000,000 at all Federal reserve banks. The System1s 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 $70,000,000 and those of United States Treasury note# decreased by the name amount. During the week the Federal Reserve Bank of TTew York, in connection with the December 15 payment by the British Government to the United States, made available in New York for account of the Bank of England gold to the amount of $95» 55^,000, against the earmark in London, pending shipment to New York, of an equivalent amount of gold for the account of the Federal Reserve Bank of New York. This gold is shown in the statement as "Gold held abroad. M Changes in the amount of reserve bank credit outstanding and in related items during the week and the year ending December 21, 1932, were follows: Increase or decrease since Dec. 21 Dec. l4 Dec. 23 1932 1932 1931 (In millions of dollars) Bills discounted 270 - l4 - 64i Bills bought 33 - 1 - 224 U. S• Government securities 1,851 +1,093 Other reserve bank credit 25 + 5 - 54 TOTAL RESERVE BAFK CREDIT 2, ISO - 9 + 1 7^ Monetary gold stock 4,4gg +119 + 23 1,910 - 14 + 150 Treasury currency adjusted Money in circulation 5,730 + 66 - 3 Member bank reserve balances 2,446 + 21 + 445 Unexpended capital funds,nonmember deposits,etc 401 + 8 - 95 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, December 24,1932; not earlier. B-SOla ' RESOURCES AI'ID LIABILITIES OF TEE TWELVE FEDERAL RESERVE BAFXS C0MBI>13D (In thousands of dollars) gee. 21,1932 Dec. 14,1912 Dec. 23,1931 R E S O U R C ES Gold with Federal reserve agents . . . 2,297,515 2,288,899 2,047,722 Gold redemption fund with U.S.Treasury 40,^50 38,931 58,^77 Gold held exclusively against P.R.notes 2,W.So5 2,327,830 2,106,^299 360,667 Gold settlement fund with F. R. Board 321,Q42 370,791 Gold and gold certificates held "by banks 451,814 394,716 513.895 Total gold reserves . . .. 3,111,621 3,053","337 2,980,861 169,370 Reserves otaer than gold 185,770 147,571 Total reserves . . .. 3,280,991 3,279,107 3,128,432 ton-reserve cash 70,2 4 74,44 63,085 3 9 Bills discounted: Sec. by U.S. Government obligations 77,378 87.953 561,374 Other bills discounted 192,937 196,'520 349^820 270,315 911,194 Total bills discounted . . 284,473 Bills bougnt in open market -2-2 opi 33,769 257 151 U. S. Government securities: ®onds 420,703 420,669 318,655 Treasury notes 286,908 357,448 28,058 Certificates and bills 1,143,088 1,072,609 411,509 Total U.S. Government securities 1,850,699 1,350,726 758,222 5,571 5,378 Other securities 30,454 2P.tal bills and securities 2,159,806 2,174,346 1,957,221 vj-old .leld abroad 3^) ^^0 Due from foreign banks 2!868 2,781 8,815 F. R. notes of other banks 13,556 13,455 17,871 Uncollected items 358,810 407,925 455'594 Bank premises 58,212 58,211 59,572 38,265 All other resources 35,802 42,889 6,075,829 6,053,163 5,728,855 TOTAL RESOURCES . . .. L I A B I L I T I ES 2,756,363 F. R. notes in actual circulation . . 2,713,935 2,661,206 Deposits: Member bank - reserve account . . . 2,446,05b 2,424,53? 2,001,086 Government 36,2% 23,700 56,460 Foreign bank 19,221 10,293 107,823 Other deposits 19,872 26,34$ 30,529 Total deposits . . 2,521,338 2,484,874 2,195,958 Deferred availability items . . .. 34l,8S4 196,415 415,866 Capital paid in 151,334 151,415 160,750 Surplus . .. . . .. 2^9,421 259,421 274,636 All other liabilities 45,1+29 47,103 20,439 TOTAL LIABILITIES 6,075.829 6,053.163 5.728,855 Ratio of total reserves to deposit and F. R. note liabilities combined . 62.2fo 63.1 f0 64.4$ Contingent liability on bills purchased 36,171 35,911 238,648 for foreign correspondents Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BA1HCS OH BECEMBER 21, 1932 R E S O U R C ES (In thousands of dollars) B-SOlb Total Boston I'Tev/ York phila. Cleve. Rich, Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Gold with Federal reserve agents 2,297,515 184,227 576,460 157,800 189,970 75,700 56,000 678,870 69,465 40,540 ol,480 23,740 183,263 1,669 3,586 Gold redemption fund with U.S.Treasury 40,350 5,488 5,327 5,902 1,311 3,222 1,531 2,342 2,188 1,305 5,879 Gold held exclusively against F. R. notes 2,337,865 185,896 581,948 163,127 195,872 77,611 59,222 682,456 70,996 42,882 63,66s 25,045 189,142 60,356 21,105 11,685 8,658 Gold settlement fund with F.R.Board 321,942 15,064 33,144 13,924 9,738 104,714 8,6s4 9,177 25,693 Gold and gold certif. held "by "banks 451,814 14,007 326,201 7,304 18,610 2,889 9,378 27,299 5,802 2,658 9,730 4,245 23,691 Total gold reserves 3,111,621 214,967 968,505 191,536 247,626 94,424 78,338 814,469 85,482 54,717 85,033 37,948 238,526 Reserves other than gold 169,370 15,375 51,260 18,651 8,901 7,o4o 4,477 25,708 9,642 4,863 6,577 8,233 8,643 Total reserves 3,280,991 230,342 1,019,765 210,187 256,527 101,464 82,815 840,177 95,124 59,580 91,660 46,181 247,169 ?Ton-reserve cash 70,234 4,183 19,307 3,789 3,626 2,956 4,020 14,288 3,653 2,156 2,767 2,765 6,719 Bills discounted: Secured by U.S.Govt, obligations 77,378 5,251 32,771 12,520 9,040 1,717 2,546 4,891 4,674 541 306 547 1,914 Other bills discounted 192,937 9,482 30,806 37,335 18,945 14,607 17,383 12,034 3,421 10,901 11,487 4,876 21,660 Total bills discounted 270,315 14,733 63,577 49,855 27,985 16,324 19,929 16,925 8,095 11,442 12,453 5,423 23,574 Bills bought in open market 33,221 2,261 9,758 3,070 2,995 1,969 3,424 3,987 974 612 s6o 830 2,481 U. S. Government securities: Bonds 420,703 20,333 187,205 31,170 36,492 9,64s 9,567 40,774 13,941 17,216 11,774 17,313 25 , 270 Treasury notes 286,908 15,971 115,155 22,618 29,667 7,843 7,747 33,147 10,926 7,835 9,515 5,943 20,541 Certificates and bills 1,143,088 60,364 430,932 85,481 112,123 29,642 29,286 188,289 41,289 29,621 35,363 22,465 77,633 Total U.S.Govt, securities 1,850,699 96,668 733,292 139,269 178,282 47,133 46,600 262,210 06,156 54,672 57,252 45,721 123,444 Other securities 5,571 4,io4 1,047 420 ~ — —— —— Total bills and securities 2,159,806 113,662 810,731 193,241 209,262 65,426 69,953 283,122 75,225 67,146 70,565 51,974 149,499 Gold held abroad 95,550 —— 95,550 —m — WW MM Due from foreign banks 2,868 228 1,033 309 289 n4 106 401 17 11 83 80 197 F. R. notes of other banks 13,556 324 3,289 309 818 717 775 2,130 1,311 573 1,270 34s 1,692 Uncollected items 358,810 38,011 96,004 33,745 35,438 27,622 9,944 41,551 14,823 10,355 19,465 ll,6l4 20,238 Bank premises 58,212 3,336 14,817 2,989 7,968 3,619 2,489 7,828 3,461 1,835 3,650 1,787 4,433 All other resources 35,802 965 17,531 1,180 1,324 2,836 4,026 1,385 1,086 1,747 887 1,266 1,569 TOTAL RESOURCES 6,075,829 391,056 2,078,027 445,749 515,252 204,754 174,1281190,882 194,700 143,403 190,347 116,015 431,516 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RESOURCES AlTD LIABILITIES OF THE FEDERAL RESERVE BANKS ON DECEMBER 21, 1932 L I A B I L I T I ES (in thousands of dollars) B-SOlc Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F. H. notes in actual circulation 2,756,363 199,806 592,201 242,785 289,540 103,974 98,416 683,528 104,058 81,701 92,362 39,662 228,330 Deposits: Member bank - reserve account 2,446,056 117,7H 1,226,801 119,947 139,177 49,320 43,707 398,978 55,115 38,537 65,215 46,484 145,064 Government 36,249 2,808 5,706 3,60b 2,404 4,289 3,267 6,188 1,956 1,683 1,056 Foreign bank 19,221 1,480 0,09s 2,005 1,967 779 720 2,609 681 428 565 1,959 1,327 Other deposits 19,872 68 6,050 120 2,817 2,062 iflL 408 1,299 4l4 _5ZL 5 6 4 4 5 i 4 1 . , 9 3 9 4 9 4 Total deposits 2,521,398 122,067 1,244,655 125,678 146,365 56,450 4 g ,m 408,183 59,051 4i,0b2 67,413 49,629 152,734 D Ca e p fe it r a r l e d p a a i v d a i i l n a bility items 3 1 4 5 1 1 , ,3 8 3 84 4 1 3 0 7 , , 8 1 5 9 6 5 9 5 0 8 , ,6 5 1 84 9 3 16 1 , , 0 6 6 6 9 2 1 3 4 3 , , 1 8 0 5 1 1 5 2 , 5 1 , ^ 6 2 45 4 9 , , 6 4 8 9 0 6 l 3 6 9 , , l 3 h 0 6 6 4 1 , 5 l6 ,6 o 53 4 9 ,0 ,5 5 0 ^ 2 17,320 12,848 18,822 Surplus 259,421 20,039 75,077 26,486 27,640 11,423 10,449 38,411 10,625 6,356 8,124 3,922 10,483 All other liabilities 45,429 1,093 16,891 3,069 2,060 2,976 5,298 1,890 1,074 7,624 17,707 3,755 1,553 . 2,330 3,440 TOTAL LIABILITIES 6,075,829 391,056 2,078,027 445,749 515,252 204,754 174,1281^90,882 194,700 116,015 143,403 190,347 431,516 Reserve ratio (per cent) 62.2 71.6 55.5 57.0 58.8 63.2 56.5 77.0 58.3 48.5 57.4 51.7 64.9 Contingent liability on bills pur- 2,752 11,767 3,729 3,657 1,448 1,340 4,852 1,267 chased for foreign correspondents 36,171 797 1,050 1,014 2,498 FEDERAL RESERVE NOTE STATEMENT Federal reserve notes: Issued to F.It.Bank by ] • -"-s6e nt 3,005,204 218,393 676,274 256,305 302,367 110,444 116,266 723,653 111,585 54,459 100,517 43,812 261,129 Held "by Federal reserve bank 248,841 18,587 84,073 13,520 12,827 6,470 17,850 40,125 7,527 2,758 8,155 4,150 32,799 In actual circulation 2,756,363 199,80b 592,201 242,785 289,540 103,974 98,416 683,528 104,058 81,701 92,362 39,662 228,330 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,076,255 47,010 442 ,460 78,290 71,470 18,430 13,500 262,870 20,765 13,540 9,680 12,240 86,000 1,221,260 Gold fund - F. R. Board 137,217 134 ,000 79,510 118,500 57,270 42,500 4i6,ooo 4s,700 27,000 51,800 11,500 97,263 Eligible paper 254,606 14,708 60 ,9 09 49,705 27,940 17,038 20,774 16,688 7,915 9,251 11,751 5,240 12,687 U. S. Gov*t. securities 471,600 20,400 41 ,000 50,000 85,000 18,000 41,000 32,000 34.300 34.900 29.000 15.000 68.000 Total collateral 3,023,721 219,335 681 ,369 257,505 302,910 117,774 111,680 84,691 102,231 43,980 263,950 110,738 727,558 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Total "7ithin 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months 270,315 Bills discounted 189,212 20,297 30,095 19,446 9,595 1,670 Bills bought in open market 33,221 8,061 11,003 4,855 9,302 Certificates and bills 1,143,088 56,250 108,564 171,125 274,731 253,763 278,655 Municipal warrants 5,571 S23 4,735 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis