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STATEMENT FOR TEE PRESS Released, f o r p u b l i c a t i o n F r i d a y morning, Dec. I S ; not e a r l i e r . B-608 F e d e r a l Reserve Board December 17, 1931 c o : 3 i : i o - OF FEDERAL RESERVE BASICS The d a i l y a v e r a g e volume of F e d e r a l r e s e r v e t a n k c r e d i t o u t s t a n d i n g d u r i n g t h e week e n d i n g December l 6 , a s r e p o r t e d "by t h e F e d e r a l r e s e r v e b a n k s , was $1,906,000,OvO, a d e c r e a s e of $ 2 6 , 0 0 0 , 0 0 0 compared w i t h t h e p r e c e d i n g week and an i n c r e a s e of $601, J00,000 compared w i t h t h e c o r r e s p o n d i n g week a y e a r ago. On December 16 t o t a l r e s e r v e bank c r e d i t amounted to $ 1 , 9 7 4 , 0 0 0 , 0 0 0 , an i n c r e a s e of ^94,000,000 f o r t n e week. T h i s i n c r e a s e c o r r e s p o n d s w i t h i n c r e a s e s of $6ci,0 '0, 000 i n member bank r e s e r v e b a l a n c e s and $71 , 000,000 i n money in c i r c u l a t i o n , of j. s e t i n p a r t by i n c r e a s e s of $21,000,000 i n monetary g o l d s t o c k and $ 3 4 , 0 0 0 , 0 0 0 i n T r e a s u r y c u r r e n c y , a d j u s t e d , and a d e c r e a s e of $ 4 , 0 0 0 , 0 0 0 i n u n expended c a p i t a l f u n d s , nonnernber d e p o s i t s , e t c . H o l d i n g s of d i s c o u n t e d b i l l s i n c r e a s e d S l 4 , 0 0 0 , 0 0 0 a t t h e F e d e r a l Reserve Sank of Boston, and $ 1 3 , 0 0 0 , 0 0 0 a t P h i l a d e l p h i a and d e c l i n e d $ 2 7 , 0 0 0 , 0 0 0 a t San F r a n c i s c o , $ 1 9 , 0 0 0 , 0 0 0 a t Mew York, $ 1 1 , 0 0 0 , 0 0 0 a t Chicago and $ 2 7 , 0 0 0 , 0 0 0 a t a l l h e d e i a l i e s e r v e b a n k s . iiie System 1 s Holdings of b i l l s bought i n open market de— c l i n e a $82,000,000, w h i l e no1dings of United S t a t e s s e c u r i t i e s i n c r e a s e d $ 1 8 9 , 0 0 0 , 0 0 0 . U. S. s e c u r i t i e s h e l d by the F e d e r a l r e s e r v e b a n k s i n c l u d e d a s p e c i a l T r e a s u r y c e r t i f i c a t e amounting to $19$, 000, 000, a s compared w i t h $ 1 0 9 , 0 0 0 , 0 0 0 a y e a r a g o , i s s u e d by t h e Treasury p e n d i n g t h e c o l l e c t i o n of q u a r t e r l y tax payments, Changes i n t h e amount of r e s e r v e bank c r e d i t o u t s t a n d i n g and i n r e l a t e d i t e m s d u r i n g t h e meek and t h e y e a r ending December l o , 1931, were a s f o l l o w s : I n c r e a s e or d e c r e a s e since Dec. l b -12JL- „ Dec. 9 i°5i Dec. 17 1930 ( i n mi l l i o n s of d o l l a r s ) B i l l s discounted B i l l s "bought Snecinl T r 0 a s m y ' c e r t i f i c a t e s United S t a t e s s e c u r i t i e s Other r e s e r v e bank c r e d i t TOTAL RESERVE BASIC CREDIT Monetary gold s t o c k Treasury currency .adjusted 09S 307 198: 70S 63 1,974 4, U 5s 1,811 Money in c i r c u l a t i o n 5,572 Member bank r e s e r v e b a l a n c e s 2,168 Unexpended c a p i t a l funds,nonmernber d e p o s i t s , e t c . 497 + + 27 32 + 19S — 9 + l4 + + + + - + 4- + 4- 94 21 34 71 82 4 - + + 367 55 £9 125 4i 677 126 11 741 2S7 86 R e l e a s e d f o r p u b l i c a t i o n F r i d a y morning, Dec. 18,1931; n o t e a r l i e r . B-605a RESOURCES AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAITXS 00:31133 ( I n t h o u s a n d s of d o l l a r s ) Dec. 16,1931 Dec. 9 , 1 9 3 1 Dec. 17,1930 1,665,310 33,700 1,699,010 462,649 797,191 R E S O U R C E S Gold w i t h F e d e r a l r e s e r v e a g e n t s Gold r e d e m p t i o n f u n d w i t h U.S. T r e a s u r y . 1,923,146 61,522 1,208,396 64,322 (z°lcLheld e x c l u s i v e l y a g a i n s t F . R . n o t e s Gold s e t t l e m e n t f u n d w i t h F . R. Board . . Gold and g o l d c e r u i f i c a t e s h e l d by banks 1,984, 668 -zgg 042 635 334 1,872,718 *3971296 699,104 Total gold r e s e r v e s R e s e r v e s o t h e r than g o l d 2,982,044 *2,969,118 167,855 2,955,850 132,240 Total_reserves Non-reserve cash B i l l s discounted: Sec. by U.S. Government o b l i g a t i o n s Other b i l l s d i s c o u n t e d 3,144,630 61,560 *3,136,973 $7,483 3,091,090 62,779 358,117 339,'791 377,525 347, 6F-7 697,908 144,528 186,793 725,182 389,219 331,321 251,591 162,586 . . Totalbills discounted B i l l s bought i n open m a r k e t U. S. Government s e c u r i t i e s : 307,077 ' ®° n d s Treasury notes Special Treasury c e r t i f i c a t e s Otner c e r t i f i c a t e s and b i l l s T o t a l U.S.Government s e c u r i t i e s Other s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s . . Due from f o r e i g n b a n k s F . R. n o t e s of o t h e r banks U n c o l l e c t e d items Bank p r e m i s e s All other resources 317,73% 317,686 369,898 379,557 905,694 30,672 717,193 20,558 197,500 . 1,941,351 8,774 15*658 R7I4,585 59,^01 021 19,950 29,972 1,80.1,566 8,725 15,828 410,732 59,501 3 Q A7L1. 121,287 200,030 109,000 262,117 692,434 7,451 1,282,797 703 14,066 733,584 59,783 20,925 5,843,080 *5,600,482 5,265,727 2,528,332 2,484,892 1,596,168 2,167,802 ' 5^870 101,402 36,754 2,086,008 *28,^95 117,674 27,221 2,454,974 2,615 Total deposits Deferred a v a i l a b i l i t y items C a p i t a l paid in Surplus All other l i a b i l i t i e s 2,308,828 550,981 2,423,548 274,636 19,63^ *2,259,493 400,648 160,947 274,636 19,?6l TOTAL LIABILITIES 5,843,080 *5,600,482 5,265,727 TOTAL RESOURCES L I A B I L I T I E S F. R. n o t e s i n a c t u a l c i r c u l a t i o n Deposits: Member bank - r e s e r v e account Government F o r e i g n bank Other d e p o s i t s 160,670 5,611 20,348 720,068 170,303 276,936 18,704 R a t i o of t o t a l r e s e r v e s to de-posit and F. R. n o t e l i a b i l i t i e s combined . . . . 65.0$ 66.1$ 75-8$ C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents 214,446 168,486 434,006 *Revised f i g u r e s . RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON DECEMBER l 6 , ( i n t h o u s a n d s of d o l l a r s ) T o t a l Boston New York P h i l a . C l e v e . R i c h . A t l a n t a Chicago S t . L o u i s Gold T-ith F e d e r a l r e s e r v e a g e n t s 1 , 9 2 3 , 1 4 6 114,627 432,336 205,000 216,470 63,370 67,600 456,500 53,555 Gold r e d e m p t i o n f u n d w i t h U - 3 . T r e a s u r y 61,522 4,782 11,778 6,324 7,522 2,400 3,845 9,656 2 , 3 9 0 Gold h e l d e x c l u s i v e l y a g a i n s t F . R. n o t e s 1,984,668 119,409 444,114 211,324 223,992 65,770 71,445 466,156 55,945 Gold s e t t l e m e n t f u n d w i t h F . 3 . Board 362,042 18,356 136,222 13,543 65,652 10,555 6,861 19,427 i 4 , i 4 s Gold and g o l d c e r t i f . h e l d by h a n k s 635,334 19,733 423,203 25,983 22,533 5,980 9.72S 66,376 13,324 Total gold r e s e r v e s 2,982,044 157,49s 1,003,539 250,555 312,177 82,305 83,034 551,959 83,417 Reserves o t h e r than gold 162,586 14,933 6,46o 27,896 12,545 37,940 13,275 12,278 7.834 R E S O U R C E S Total reserves Non-reserve cash B i l l s discounted: S e c u r e d by U . S . G o v t , o b l i g a t i o n s Other b i l l s discounted Total b i l l s discounted B i l l s b o u g h t i n open m a r k e t U. S . Government s e c u r i t i e s : Bonds Treasury notes Special Treasury c e r t i f i c a t e s Other c e r t i f i c a t e s and b i l l s Total U.S.Govt, s e c u r i t i e s Other s e c u r i t i e s T o t a l b i l l s and s e c u r i t i e s Due from f o r e i g n banks F . R. n o t e s of o t h e r banks Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES 3,144,630 172,431 1,041,479 264,130 324,455 61,560 6,282 18,003 3,385 2,947 358,117 339,791 697,908 307,077 26,543 16,652 43,495 317,733 23,367 1,169 20,55s 197,500 369,898 34,581 11,000 32,316 67,852 1,630 905,694 30,672 1,941,351 147,858 2,77*4 37,021 692 218 63,833 3,458 1,935 5,843,020 396,707 15,658 574,535 59,501 85,159 53,364 32,572 64,264 117,731 117,62s 81,600 48,273 111,897 4,431 14,623 106,299 22,601 12,200 952 146,500 117,734 63,624 25,424 1,260 36,267 62,951 382,733 54,097 — 14,273 5,790 596,337 181,946 189,471 ss4 3,221 913 4,359 459 165,296 50,330 15,240 12,449 1,856,384 2,626 1,636 2,823 969 52,825 8,002 4,300 94,494 579,855 9,878 3,353 7,505 28-, 472 15.196 38,464 35,977 10,ISO 53.660 17,974 11,069 549 — — 30,544 90,139 700 74,263 350 1,199 44,883 3,723 2,955 505,475 583,853 220,335 56,110 14,448 21,850 12,431 77,960 26,879 62,307 11,554 6,051 53,078 11,350 293 — 15,788 27,406 95,962 3,081 8,433 1,559 4o,ooo 44,s4o 14,782 139,477 600 3.685 87,016 283,429 1,245 315 S07 2,249 13.522 77,152 2,572 3,455 205,534 8,061 1,430 537 — 15,464 27,351 380 66,664 25 1,335 19,454 3,635 2,386 1931 B-608b .Minn. Kans.Cy. D a l l a s San F r a n . 54,745 51,680 32,500 174,763 1,006 3,130 1,911 6,778 55,751 54,310 5,435 12,042 69,255 5,003 94,475 7.525 8,069 27,623 74,253 102,000 1.922 1,596 34,411 181,541 10,194 31.392 3,706 27,286 43,311 240,219 3,360 8.537 56,671 248,756 2,817 5,473 4,173 13,831 23,787 32,562 7,859 9,845 6,852 23,617 30,469 15,978 is,oo4 56,349 15,855 418 7,685 378 16,990 1,056 6,803 — — 7,609 36,095 353 — 17,969 890 - 11,729 28,002 844 10,396 10,239 13.959 4oo 27,632 46,550 17 734 9,537 1,926 1,466 65,806 53,245 148,766 263 254 595 1,865 1,159 305 27.397 18,44s 31,35s 3.804 1,482 — 1,832 2,449 35,593 54,452 1.870 4,622 1,028 963,349 192,542 136,084 203,824 136,030 442,963 L I A B I L I v.R,notes in actual circulation D -v i i s : bank - r e s e r v e account G :-v r u m e n t 1 J - e i g n bank Other d e p o s i t s l r : RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE EAT1C3 OH DECEMBER 16, 1931 ( I n t h o u s a n d s of d o l l a r s ) I E S Total Boston 2,528,332 160,731 Phi l a . Clcve. R i c h . A t l a n t a Chicago S t . L o u i s E 1 2 7 l 4 7 '4? 6 55,412 48,134 304,630 63,371 44,571 -I s i >4 •;« '•;! 4B , 6120o ^ Federal raserve notes: I s s u e d to F . R . bank by F . R . a g e n t 2 , 8 1 9 , 0 6 0 190,306 H e l d by F e d e r a l r e s e r v e b a n k 290,72S 23,575 In a c t u a l c i r c u l a t i o n 2 , 5 ? S , 3 3 2 166,731 C o l l a t e r a l h e l d by a g e n t a s s e c u r i t y f o r n o t e s i s s u e d to bank Gold and g o l d c e r t i f i c a t e s 800,816 4 7 , 0 1 0 Gold f u n d - F . R . Board 1,122,330 67,617 Eligible paper 936,104 75,825 Total c o l l a t e r a l 2,859,250 190,452 -g 4: — b22 1,555 > • • • 956 / ^ 2.257 y s ' 2.786 •- > 1.502 f •** > Dotal 697,908 307,077 567,398 4,072 210,652 3,658 909 6?1 J U C 1 50,629 145,200 109 89 3.307 7,436 217. 7,564 54,322 160,349 19,626 2 9 , 8 0 8 4,147 11,338 8,936 1 8 , 4 7 5 815 956 FEDERAL RESERVE F0TE STATE''EFT 582,348 302,386 339,290 106,851 137,534 590,840 89,456 70,662 92,873 49,047 28,934 19,259 7,903 16,960 8 2 , 8 0 5 2,867 2 , 8 7 0 1 0 , 2 1 5 5 3 3 , 3 0 1 273,452 320,031 98,948 120,574 508,035 86,589 67,792 82,65s 397,336 54,700 64,470 10,270 35,000 150,300 152,000 53,100 164,594 111,395 123,112 44,501 5 9 6 , 9 3 0 3 1 6 , 3 9 5 3 3 9 , 5 8 2 107,871 W i t h i n 15 d a y s 540,325 159,361 j 48,184 222,037 1,856,354 5 0 5 , 4 7 5 5 8 3 , 5 5 3 220,335 205,534 963,349 192,542 136,084 203,8=4 136,030 442,963 6b.9 64.0 66.6 56.6 54.6 70.0 62.1 64.2 62.0 65.1 55-3 75,980 20,430 20,842 8,254 7,429 27,858 7,223 4 , 7 4 6 5 , 9 8 4 6,191 14,03; 10,850 56,750 70,252 137,852 85,500 371,000 135,325 15,355 38,200 35,998 16 t o 30 d a y s 46,201 87,580 2,000 181 31 to 60 d a y s 49,605 29,226 51,175 151 9,145 9,8' 0 260,757 55,757 7,573 48,'184 222037 12,300 84,000 38.720 45,600 4 1 , 8 0 0 20,200 90,763 16,227 4 4 , 8 9 7 2 4 , 2 0 0 8 9 . 7 7 8 591,825 39,553 70,972 96,577 56,700 264,541 MATURITY DISTRIBUTION OF BILLS M B SHORT TERM 78,214 1 1 J If 11 If 1 1 1 1 1 § ±ii°33 45^ TOTAL LIABILITIES 5,243,080 3 9 b , 7 0 7 Reserve r a t i o (per c e n t ) o>0 57-b C o n t i n g e n t l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n correspondents : l 4 , 4 4 6 15,47,' Bills discounted B i l l s b o u g h t i n open m a r k e t C e r t i f i c a t e s and b i l l s Municipal warrants B-o08b Minn. ICans.Cy. D a l l a s San F r a n . 533,301 273,452 320,031 98,Q4S 120,574 508,035 86,589 67,792 82,65s 978> \ i > e r Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus LI 1 o t h e r l i a b i l i t i e s Few York 6 l to 90 days 43,552 29,704 135,773 57 3CURITIES 91 days to 6 months 16,467 706 43,500 25 Over 6 months 1,758 124,298
@FedFRASER