H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEI/IEl^T FOE TEE PRESS Released for publication B-S01 Friday morning, Dec. 30; Federal Reserve Board not earlier. December 2Q, 1932. C07DITI0F OF FEDERAL RESERVE BAHCS The daily average volume of Federal Reserve banlc credit outstanding during tne week ending December 2S, as reported by/Feaeral reserve banks, was $2,189,000,000, a decrease of $3,000,000 compared with the preceding week and an increase of $170,000,000 compared with the corresponding week in 1431. On December 28 total reserve bank credit amounted to $2,l6o,000,000, a decrease of $12,000,000 for the week. This decrease corresponds with a decrease of $43,000,000 in money in circulation and an increase of $17,000,000 in monetary gold stock, offset in part by an increase of $36,000,000 in member bank reserve balances and a decrease of $12,0 )0,0 ;0 in Treasury currency,, adjusted. Holdings of discounted bills increased at the Federal Reserve Bank $ 5 , 0 0 0 , 0 00 of Atlanta, and declined 5 4 , 0 0 0 , 0 00 at iTew York and *3 > 000, OjO at all Federal reserve banks-. The System1 s holdings of bills bought in open market and of United States Government bonds show little change for the week, while holdings of United States Treasury notes increased $3,000,000 and those 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 December 2S, 1932, were as follows: Increase or decrease since Dec. 28 Dec. 21 Dec. 30 1932 1932 1931 (In millions of dollars) Bills discounted 267 - 3 - 757 Bills bought 33 - 294 +1,o4s U. S. Government securities 1,251 Other reserve bank credit 17 - s - 31 TOTAL RESERVE BA2TK CREDIT 2,l6S -12 Monetary gold stock 4,505 +17 Treasury currency adjusted 1.S9S -12 + 137 Money in circulation 5,627 -43 + 54 Member bank reserve balances 2,482 +3b + 159 Unexpended capital funds,nonmember deposits,etc 402 + 1 63 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1 < .Released, for publication Friday morning, December 30,1932; not earlier, B-SOlc RESOURCES AKD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAHS COMB HIED (in thousands of dollars) Dec. 28,1932 Dec. 21,1932 Dec. 30,1931 R E S O U R C ES Gold with Federal reserve agents . . . 2,335,345 2,297,515 2,090,372 Gold redemption fund with U.S.Treasury Ho,831 40,350 58,077 Gold held exclusively against F.R.notes 2,376,176 2,337,865 2,148,449 Gold settlement fund with F. R. Board 346,342 321,942 335,570 Gold and gold certificates held by banks 426,013 451,814 503,545 Total gold reserves 3,148,531 3,111,621 2,987,564 Reserves other than gold 173,322 169,370 167,459 Total reserves . . .. 3,321,253 3,280,991 3,155,023 ITon-reserve cash 84,034 70,234 74,610 Bills discounted: Sec. by U.S. Government obligations 77,760 77,372 594,833 Other bills discounted 189,622 192,937 429,050 Total bills discounted . . .. 267,382 270,315 1,023,883 Bills bought in open market 33,221 326,975 33,307 U. S. Government securities: Bonds 420,740 420,703 344,626 Treasury notes . . 296,419 286,908 30,843 Certificates and bills 1,133,578 1,143,088 427,759 Total U.S. Government securitie 1,850,737 1,350,699 803,228 Other securities 5,649 5,571 31,130 Total bills and securities 2,159,806 2,185,216 2,157,075 Gold held abroad 72,63s 95,550 Due from foreign banks 2,976 2,80S 8,662 F. R. notes of other banks . . . . 14,775 13,556 20,056 Uncollected items . 358,810 443,521 356,736 Bank premises 58,212 58,212 59,531 All other resources 36,831 35,802 39,151 TOTAL RESOURCES 6,105,130 6,075,829 5,985,820 L I A B I L I T I ES F. R. notes in actual circulation . . 2,735,45s 2,756,363 2,613,104 Deposits: Member bank - reserve account . . . 2,481,674 2,446,056 2,322,787 Government 42,172 36,249 50,705 Foreign bank 19,053 19,221 77,259 Other deposits 20,339 19,872 29,358 Total deposits . . .. 2,563,23s 2,521,39s 2,480,109 Deferred availability items . . .. 348,639 341,884 435,291 Capital paid in 151,314 151,334 160,553 Surplus 259,421 259,421 274,636 All other liabilities 47,060 45,429 22,127 TOTAL LIABILITIES . . . 6,105,130 6,075,829 5,985,820 Ratio of total reserves to deposit and F. R. note liabilities combined . 62.7# 62.2^ 61.90 Contingent liability on bills purchased for foreign correspondents 36,332 36,171 248,529 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

LiaLul '.illO Jj .lALILII'Iio 3? T£S JKJ2,HE SERVE BAECS OF DECEMBER 28, 1932 B-801c L I A B I L I T I ES (in thousands of dollars) Cy. Dallas San Fran. Total Boston New York Phila. Clave. Rich. Atlanta Chicago St.Louis Minn. .Cans. IP,3. notes in actual circulation 2,735,458 197,SOU 578,710 239,524 288,045 102,888 97,716 690,910 103,243 80,995 91, 131 39,027 225,365 Deposi ts: Member tank - reserve account 2,481,674 118,062 1,255,044 118,669 140,784 50,079 43,504 405,133 56,252 39,35S 6 o, 500 45,761 142,428 Government 42,172 2,068 5,783 3,773 1,566 993 14,911 4,070 1,926 Sol 763 2,930 2,528 Foreign banl: 19,053 1,480 5,929 2,006 1,967 779 720 2,609 681 428 565 545 1,344 Other deposits 20,339 66 5,823 101 2,828 1,9-5 943 1,12b 1,182 327 190 ML 5,121 Total deposits 2,563,23s 121,676 1,272,579 124,549 147,145 53,846 60,07s 412,93s 6o,o4l 40,974 68,118 49,873 151,^21 Deferred availability items 348,639 42,260 95,947 27,439 33,429 28,329 10,353 33,745 16,292 7,854 17,439 12,34s 18,204 Capital paid in 151,314 10,356 58,619 16,069 14,101 5,142 4,680 16,157 4,360 2,885 4,052 3,910 10,483 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 47,060 1,103 16,673 3,142 3,820 2,021 2,943 7,250 1.399 1,8/3 1,090 2,329 h Ml TOTAL LIABILITIES 6,105,130 393,73S 2,,097,605 437,309 514,180 203,709 186,2191,204,411 195,360 i4o,537 1S9, 954 115,111 426,597 Reserve ratio (per cent) 62.7 71.7 57.0 56.7 59.2 62.2 55.6 77.3 5S.S 49.3 58. 3 50.1 63.9 Contingent liability on bills purchased for foreign correspondents 36,33c 2,752 11,934 3,729 3,657 1,44s 1,340 4,852 1,267 797 1,050 1,014 2,49s FEDERAL RESERVE MOTE STATEMENT Federal reserve notes: Issued to F.H.Bank by F.R.Agent 2,999,717 218,931 666,65 4 255,800 301,546 110,490 115,861 730,773 lii,77S 84,407 99, 767 44,096 259,614 Held by Federal reserve bank 264,259 21,127 87,944 16,176 13,501 7,602 18,145 39,863 8,535 3,412 Ju 616 s.o6q 34.249 In actual circulation 2,735,^58 197,so4 578,710 239,6245288,045 102,888 97,716 690,910 103,243 80,995 9i,i3i 39,027 225,365 Collateral held by agent as security for notes issued to banks Gold and gold certificates 1,105,285 47,010 473,610 78,290 71,470 18,430 13,500 262,870 21,645 13,5^0 9, 680 12,240 83,000 Gold fund - F. E. Board 1,230,060 137,217 129,000 76,710 119,500 57,270 46,500 428,000 47,200 28,500 51, 800 11,100 97,263 Eligible paper 252,304 13,360 57,389 49,561 26,111 17,192 25,590 16,S01 6,827 8,128 11, 136 5,065 15,144 U. S. Gov* t. securities 428,500 21,4oo 9,000 52,000 85,000 18,000 32,000 27,000 36,200 34,900 29, 000 16,000 68.000 Total collateral 3,016,149 218,987 668,999 256,561 302,081 110,892 117,590 734,671 111,872 85,06s 101,616 44,405 263,407 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to Over 6 months Total Within 15 days l6 to 30 days 31 to 60 days 6l to 90 days 6 months Bills discounted 267,382 187,581 20,288 29,013 19,503 9,364 1,633 Bills bought in open market 33,307 6,452 5,742 10,385 10,72s Certificates and bills 1,133,578 58,355 H9,75S 151,525 224,284 307,772 271, Municipal warrants 5,649 5,340 296 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis