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STATEMENT FOR TEE PRESS B-801 F e d e r a l Reserve Board December 22, 1932. Released f o r p u b l i c a t i o n F r i d a y morning, Dec. 23; not e a r l i e r . CONDITION OF FEDERAL RESERVE BATIKS 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 bank 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 ending December 21, as r e p o r t e d by F e d e r a l r e s e r v e b a n k s , was $ 2 , 1 9 2 , 0 0 0 , 0 0 0 , a d e c r e a s e of $ 2 , 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 $227,000,000 compared w i t h the c o r r e s p o n d i n g week i n 1931® On December 21 t o t a l r e s e r v e bank c r e d i t amounted to $ 2 , 1 8 0 , 0 0 0 , 0 0 0 , a d e c r e a s e of A9,000,000 f o r t h e week. T h i s d e c r e a s e c o r r e s p o n d s w i t h an i n c r e a s e of $119,000,000 i n monetary g o l d s t o c k , o f f s e t i n p a r t by i n c r e a s e s of $oo,u00,000 i n money i n c i r c u l a t i o n , $ 2 1 , 0 0 0 , 0 0 0 i n member bank r e s e r v e b a l a n c e s and $ 8 , 0 0 0 , 0 0 0 i n unexpended c a p i t a l f u n d s , nonm ember d e p o s i t s , e t c . , and a d e c r e a s e of $14,000,000 in Treasury currency, a d j u s t e d . Holdings of d i s c o u n t e d " b i l l s d e c l i n e d $ 6 , 0 0 0 , 0 0 0 a t t h e F e d e r a l Reserve Bank of San F r a n c i s c o , $ 3 , 0 0 0 , 0 0 0 e a c h a t C l e v e l a n d and A t l a n t a and $ l 4 , 0 0 0 , 0 0 0 a t a l l F e d e r a l r e s e r v e b a n k s . The System 1 s h o l d i n g s of b i l l s bought i n open market and of U n i t e d S t a t e s Government bonds show l i t t l e change f o r t h e week, w h i l e h o l d i n g s of T r e a s u r y c e r t i f i c a t e s and b i l l s i n c r e a s e d $ 7 0 , 0 0 0 , 0 0 0 and t h o s e of U n i t e d S t a t e s T r e a s u r y n o t e # d e c r e a s e d by the name amount. During the week t h e F e d e r a l Reserve Bank of TTew York, i n c o n n e c t i o n w i t h the December 15 payment by t h e B r i t i s h Government to t h e U n i t e d S t a t e s , made a v a i l a b l e in New York f o r a c c o u n t of the Bank of England gold to t h e amount of $95» 55^,000, a g a i n s t t h e earmark i n London, p e n d i n g shipment to New York, of an e q u i v a l e n t amount of g o l d f o r t h e a c c o u n t of the F e d e r a l Reserve Bank of New York. This g o l d i s shown i n t h e s t a t e m e n t a s "Gold h e l d a b r o a d . M 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 week and t h e y e a r e n d i n g December 21, 1932, were follows: I n c r e a s e or d e c r e a s e since Dec. 21 1932 Dec. l4 1932 Dec. 23 1931 ( I n m i l l i o n s of d o l l a r s ) Bills Bills U. S• Other discounted bought Government s e c u r i t i e s r e s e r v e bank c r e d i t TOTAL RESERVE BAFK CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d Money i n c i r c u l a t i o n Member bank r e s e r v e b a l a n c e s Unexpended c a p i t a l funds,nonmember d e p o s i t s , e t c 270 - l4 - 64i 1 - 224 1,851 25 + 5 - 54 2, ISO - 1,910 - 14 33 4,4gg 5,730 2,446 401 - 9 +119 + 66 + 21 + 8 +1,093 +17^ + 23 + 150 - 3 + 445 - 95 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 m o r n i n g , December 2 4 , 1 9 3 2 ; n o t e a r l i e r . B-SOla ' RESOURCES AI'ID LIABILITIES OF TEE TWELVE FEDERAL RESERVE BAFXS C0MBI>13D ( I n t h o u s a n d s of d o l l a r s ) g e e . 21,1932 Dec. 14,1912 Dec. 23,1931 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 2,297,515 40,^50 2,288,899 38,931 2,047,722 58,^77 Gold h e l d e x c l u s i v e l y a g a i n s t P . R . n o t e s 2 , W . S o 5 Gold s e t t l e m e n t f u n d w i t h F . R. B o a r d 321,Q42 Gold and g o l d c e r t i f i c a t e s h e l d "by b a n k s 451,814 2,327,830 370,791 394,716 2,106,^299 3,053","337 2,980,861 185,770 147,571 3,280,991 3,279,107 3,128,432 70,2 3 4 74,44 9 63,085 77,378 192,937 87.953 196,'520 561,374 349^820 Total gold reserves . . . . Reserves otaer than gold Total reserves . . . . ton-reserve cash B i l l s discounted: S e c . 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 Total b i l l s discounted B i l l s b o u g n t i n open m a r k e t U. S. Government s e c u r i t i e s : . . ®onds Treasury notes 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 2P.tal b i l l s a n d s e c u r i t i e s vj-old . l e l d a b r o a d 3,111,621 169,370 270,315 -2-2 opi 284,473 33,769 360,667 513.895 911,194 257 151 420,703 286,908 1,143,088 420,669 357,448 1,072,609 318,655 28,058 411,509 1,850,699 1,350,726 758,222 5,571 2,159,806 5,378 30,454 2,174,346 1,957,221 2!868 13,556 358,810 58,212 35,802 2,781 13,455 407,925 58,211 42,889 8,815 17,871 455'594 59,572 6,075,829 6,053,163 5,728,855 2,756,363 2,713,935 2,661,206 2,446,05b 2,424,53? 2,001,086 19,221 19,872 10,293 26,34$ 107,823 30,529 2,521,338 34l,8S4 151,334 2^9,421 45,1+29 2,484,874 196,415 151,415 259,421 47,103 2,195,958 415,866 160,750 274,636 20,439 6,075.829 6,053.163 5.728,855 3^) ^^0 Due f r o m 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 b a n k s Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES . . . . 38,265 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 b a n k - r e s e r v e a c c o u n t . . . Government Foreign bank Other d e p o s i t s Total deposits . . Deferred a v a i l a b i l i t y items . . . . Capital paid in Surplus . . . . . . . All other l i a b i l i t i e s TOTAL LIABILITIES 36,2% 23,700 R a t i o of t o t a l r e s e r v e s t o d e p o s i t a n d F . R. n o t e l i a b i l i t i e s combined . 62.2fo 63.1 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 36,171 35,911 f0 56,460 64.4$ 238,648 RESOURCES AED LIABILITIES OF THE FEDERAL RESERVE BA1HCS OH BECEMBER 21, 1932 ( I n t h o u s a n d s of d o l l a r s ) B-SOlb T o t a l B o s t o n I'Tev/ York p h i l a . Cleve. R i c h , A t l a n t a Chicago S t , L o u i s Minn. K a n s . C y . D a l l a s San F r a n . Gold with F e d e r a l r e s e r v e a g e n t s 2,297,515 184,227 576,460 1 5 7 , 8 0 0 1 8 9 , 9 7 0 7 5 , 7 0 0 56,000 678,870 69,465 40,540 o l , 4 8 0 2 3 , 7 4 0 183,263 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 4 0 , 3 5 0 1,669 5,488 5,327 5,902 1,311 3,222 3,586 1 , 5 3 1 2 , 3 4 2 2 , 1 8 8 1 , 3 0 5 5,879 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 2,337,865 185,896 581,948 163,127 195,872 7 7 , 6 1 1 59,222 682,456 70,996 4 2 , 8 8 2 63,66s 25,045 189,142 Gold s e t t l e m e n t f u n d w i t h F . R . B o a r d 321,942 15,064 60,356 21,105 3 3 , 1 4 4 1 3 , 9 2 4 9 , 7 3 8 1 0 4 , 7 1 4 8 , 6 s 4 9 , 1 7 7 11,685 8,658 2 5 , 6 9 3 Gold and g o l d c e r t i f . h e l d "by "banks 4 5 1 , 8 1 4 14,007 326,201 7 , 3 0 4 1 8 , 6 1 0 2,889 9 , 3 7 8 27,299 5 , 8 0 2 2,658 9 , 7 3 0 4 , 2 4 5 23,691 Total gold reserves 3 , 1 1 1 , 6 2 1 214,967 968,505 191,536 247,626 9 4 , 4 2 4 78,338 814,469 8 5 , 4 8 2 54,717 8 5 , 0 3 3 37,948 238,526 1 6 9 , 3 7 0 15,375 51,260 18,651 8,901 7 , o 4 o 4,477 25,708 9 , 6 4 2 4 , 8 6 3 6 , 5 7 7 8,233 8 , 6 4 3 Reserves o t h e r than gold Total reserves 3,280,991 230,342 1,019,765 210,187 256,527 101,464 82,815 840,177 9 5 , 1 2 4 59,580 91,660 46,181 247,169 ?Ton-reserve c a s h 70,234 4 , 1 8 3 19,307 3 , 7 8 9 3,626 2,956 4,020 14,288 3 , 6 5 3 2,156 2,767 2,765 6,719 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 77,378 5,251 32,771 12,520 9 , 0 4 0 1,717 2,546 4 , 8 9 1 4 , 6 7 4 1,914 306 541 547 Other b i l l s d i s c o u n t e d 9,482 30,806 3 7 , 3 3 5 1 8 , 9 4 5 14,607 17,383 1 2 , 0 3 4 3 , 4 2 1 10,901 1 1 , 4 8 7 4 , 8 7 6 21,660 192,937 Total b i l l s discounted 270,315 14,733 63,577 49,855 2 7 , 9 8 5 16,324 19,929 1 6 , 9 2 5 8,095 1 1 , 4 4 2 1 2 , 4 5 3 5 , 4 2 3 23,574 B i l l s b o u g h t i n open m a r k e t 2,261 33,221 s6o 612 830 2 , 4 8 1 3,070 9,758 1,969 3 , 4 2 4 3 , 9 8 7 974 2,995 U. S. Government s e c u r i t i e s : Bonds 420,703 20,333 187,205 3 1 , 1 7 0 3 6 , 4 9 2 9 , 6 4 s 9 , 5 6 7 4 0 , 7 7 4 1 3 , 9 4 1 17,216 1 1 , 7 7 4 1 7 , 3 1 3 25 , 270 Treasury notes 286,908 1 5 , 9 7 1 115,155 22,618 29,667 7 , 8 4 3 7,747 3 3 , 1 4 7 10,926 7 , 8 3 5 9 , 5 1 5 5 , 9 4 3 2 0 , 5 4 1 C e r t i f i c a t e s and b i l l s 1,143,088 60,364 430,932 8 5 , 4 8 1 112,123 29,642 29,286 188,289 41,289 29,621 3 5 , 3 6 3 2 2 , 4 6 5 77,633 Total U.S.Govt, s e c u r i t i e s 1 , 8 5 0 , 6 9 9 96,668 733,292 139,269 178,282 4 7 , 1 3 3 46,600 262,210 06,156 54,672 57,252 45,721 123,444 Other s e c u r i t i e s 4,io4 1,047 420 5,571 R E S O U R C E S ~ T o t a l b i l l s and s e c u r i t i e s Gold h e l d a b r o a d Due f r o m 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 b a n k s Uncollected items Bank p r e m i s e s All other resources TOTAL RESOURCES 2,159,806 113,662 95,550 2,868 13,556 358,810 58,212 35,802 —— 228 324 38,011 3,336 965 — — — 810,731 193,241 209,262 65,426 95,550 1,033 3,289 96,004 309 309 14,817 17,531 33,745 2,989 1,180 6,075,829 391,056 2,078,027 445,749 289 818 35,438 7,968 1,324 n4 717 27,622 3,619 2,836 —— 6 9 , 9 5 3 283,122 106 775 9,944 2,489 4,026 75,225 67,146 70,565 5 1 , 9 7 4 149,499 —m — 401 2,130 41,551 7,828 1,385 17 1,311 14,823 3,461 1,086 11 573 10,355 1,835 1,747 83 1,270 19,465 3,650 887 WW MM 80 34s ll,6l4 1,787 1,266 197 1,692 20,238 4,433 1,569 515,252 2 0 4 , 7 5 4 174,1281190,882 194,700 143,403 190,347 116,015 431,516 L I A B I L I T I E S F . H. 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 a c c o u n t Government F o r e i g n bank Other d e p o s i t s Total deposits Deferred a v a i l a b i l i t y items Capital paid in Surplus All other l i a b i l i t i e s TOTAL LIABILITIES Reserve r a t i o (per cent) 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 Federal reserve notes: I s s u e d to F.It.Bank by ] sent • -"-6 Held "by F e d e r a l r e s e r v e bank In a c t u a l c i r c u l a t i o n 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 b a n k s Gold and g o l d c e r t i f i c a t e s Gold f u n d - F . R. Board E l i g i b l e paper U. S. Gov*t. s e c u r i t i e s Total c o l l a t e r a l RESOURCES AlTD LIABILITIES OF THE FEDERAL RESERVE BANKS ON DECEMBER 21, 1932 ( i n t h o u s a n d s of d o l l a r s ) B-SOlc T o t a l Boston New York P h i l a . Cleve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. K a n s . C y . D a l l a s San F r a n . 2,756,363 199,806 592,201 242,785 289,540 103,974 98,416 683,528 104,058 81,701 92,362 3 9 , 6 6 2 228,330 1,226,801 119,947 139,177 49,320 43,707 398,978 55,115 38,537 65,215 4 6 , 4 8 4 145,064 5,706 3,60b 2,404 4,289 3,267 6,188 1,956 1,683 1,056 1 , 9 5 9 1 , 3 2 7 0,09s 2,005 1,967 779 720 2,609 681 428 565 1,344 545 6,050 120 2,817 2,062 408 1,299 4l4 6 4 i iflL 4 .999 _5ZL 2 , 5 2 1 , 3 9 8 122,067 1,244,655 125,678 146,365 56,450 4 g , m 408,183 59,051 4 i , 0 b 2 67,413 49,629 152,734 3 4 1 , 8 8 4 37,195 9 0 , 5 8 4 31,662 3 3 , 8 5 1 25,645 9 , 4 9 6 39,306 15,653 9,502 17,320 1 2 , 8 4 8 18,822 151,334 10,856 58,619 16,069 1 4 , 1 0 1 5 , 1 ^ 2 4 , 6 8 0 l6,lh6 4 , l 6 o 4,05^ 3,922 10,483 259,421 20,039 75,077 26,486 27,640 11,423 10,449 38,411 10,625 6,356 8,124 7 , 6 2 4 1 7 , 7 0 7 45,429 1,093 16,891 3,069 3 , 7 5 5 2,060 2,976 5,298 1 , 5 5 3 1,890 1,074 . 2 , 3 3 0 3 , 4 4 0 6,075,829 391,056 2,078,027 445,749 515,252 204,754 174,1281^90,882 194,700 1 4 3 , 4 0 3 1 9 0 , 3 4 7 116,015 431,516 62.2 71.6 55.5 57.0 58.8 63.2 56.5 77.0 58.3 4 8 . 5 57.4 64.9 51.7 36,171 2,752 11,767 3,729 3,657 1,448 1,340 4,852 1,267 797 1,050 1,014 2,498 2,446,056 117,7H 2,808 36,249 19,221 1 , 4 8 0 19,872 68 FEDERAL RESERVE NOTE STATEMENT 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 84,073 13,520 12,827 6,470 17,850 40,125 7,527 2 , 7 5 8 8 , 1 5 5 4 , 1 5 0 32,799 592,201 242,785 289,540 103,974 98,416 683,528 104,058 81,701 92,362 39,662 228,330 1,076,255 1,221,260 254,606 471,600 442 ,460 134 ,000 248,841 18,587 2,756,363 199,80b 3,023,721 219,335 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 C e r t i f i c a t e s and b i l l s Municipal warrants 47,010 137,217 14,708 20,400 270,315 33,221 1,143,088 5,571 78,290 71,470 18,430 13,500 262,870 20,765 79,510 118,500 57,270 42,500 4i6,ooo 4s,700 60,909 49,705 27,940 17,038 20,774 16,688 7,915 41 ,000 50,000 8 5 , 0 0 0 18,000 4 1 , 0 0 0 32,000 34.300 681,369 257,505 302,910 110,738 117,774 727,558 111,680 "7ithin 15 days 189,212 8,061 56,250 4,735 13,540 9,680 12,240 86,000 27,000 51,800 11,500 97,263 9,251 11,751 5,240 12,687 34.900 2 9 . 0 0 0 1 5 . 0 0 0 68.000 84,691 102,231 43,980 263,950 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 9 1 days t o 16 to 30 days 31 to 60 days 6 l to 90 days 6 months 20,297 19,446 30,095 9,595 4,855 11,003 9,302 108,564 171,125 274,731 253,763 S23 13 Over 6 months 1,670 278,655
@FedFRASER