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STATEMENT FOR THE PRESS Released, f o r p u b l i c a t i o n F r i d a y morning, F e b . 19; not e a r l i e r . B-681 F e d e r a l R e s e r v e Board F e b r u a r y I S , 1932. CCTDITIC" OF FZD3.1AL 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 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 F e b r u a r y 17, 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 795»0C0,000, a d e c r e a s e of $ 1 2 , 0 0 0 , 0 0 0 compared w i t h the pre-coding re-.k. m d an i n c r e a s e of $855>000,000 compared w i t h t h e c o r r e s p o n d i n g week i n I 9 3 I . On F e b r u a r y If t o t a l r e s e r v e bank c r e d i t amounted to $ 1 , 7 5 1 , 0 0 0 , 0 0 0 , an i n c r e a s e of $ 2 , 0 0 0 , 0 0 0 f o r the week. This i n 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 $1 (-,000,000 i n unexpended, c a p i t a l f u n d s , nonmember d e p o s i t s , e t c . , and a d e c r e a s e of $ 3 4 , 0 0 0 , 0 0 0 i n monetary g o l d s t o c k o f f s e t l a r g e l y by d e c r e a s e s of $ 1 7 , 0 0 0 , 0 0 0 i n money i n c i r c u l a t i o n and $ 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 an i n c r e a s e of $ 2 2 , 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 . 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 $ 9 , 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 , $ 7 , 0 0 0 , 0 0 0 a t Few York $ 6 , 0 0 0 , 0 0 0 a t P h i l a d e l p h i a and $ 2 7 , 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 S y s t e m ' s h o l d i n g s of b i l l s bought i n open market d e c l i n e d $ 2 3 , 0 0 0 , 0 0 0 and 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 $ 6 , 0 0 0 , 0 0 0 , while h o l d i n g s 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 s i n c r e a s e d $ 6 , 0 0 0 , 0 0 0 , 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 F e b r u a r y 17, 1932, 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 F e b . 17 193? F e b . 10 1932 F e b . IS 1931 ( i n m i 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 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 346 1H6 741 + 27 - 23 + 646 + 52 + l4l +36 47 l TOTAL RESERVE BANK CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d 1,721 4,369 1,792 + 2 - 3^ + 2S + + 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 5,609 1,904 429 - +1,049 17 l + 14 - + 576 292 14 476 25 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, Feb, 19,1932; n o t e a r l i e r . B-681a RESOURCES Aim LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED ( I n t h o u s a n d s of d o l l a r s ) i F e b . 17,1932 F e b . 10,1932 F e b . 18,1931 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 . 2,053,930 56,494 2,071,979 1,713,789 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 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 t i f i c a t e s h e l d by b a n k s , 2,110,424 270,727 562,375 2,943,586 201.95S 2,128,941 317,192 521,085 2,967,21s 196,277 1,748,256 480,497 855,655 3,084,408 181,995 3,145,544 77,067 3,163,495 3,266,403 75,666 82,29s 473,165 372,616 845,721 146,382 450,326 369,109 819,435 169,391 66,067 319,978 75,504 345,860 741,342 324,488 29,995 320,110 69,530 351,794 741,434 33,451 1,763,500 1,763,711 893,492 3,595 13,810 421,531 57,820 39,917 8,608 12,802 345,551 57,821 39,335 513,097 5,527,784 5,466,989 4,848,848 2,656,941 2,661,959 1,449,756 1,904,246 1,904,914 48,331 46,582 2,379,736 R E S O U R C E S Total gold r e s e r v e s . . . . Reserves other than gold . 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 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 , 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 , , , Duo from f o r e i g n bari^s, F , R, n o t e * 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 . . . . . 56,962 34,467 133,756 199,823 93,995 78,971 196,215 599,674 - 699 15,332 58,191 19,336 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 a c c o u n t , . . . . Government 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 27,214 38 ,,848 42,813 2,013,121 412,877 157,915 259,421 27,509 5,527,784 21,255 2,021,082 339,168 158,362 259,421 26,997 5,466,989 35,248 5,261 19,305 2,439,550 502,628 169,265 274,636 13,013 4,848,84s R a t i o of t o t a l r e s e r v e s to d e p o s i t and F . R. n o t e l i a b i l i t i e s combined , . . , 67.4?* 67.6# 84.0$ 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 , , , . , , 315.34s 319,294 448,637 R E S O U R C E S RESOURCES AHD LIABILITIES OF THE FEDERAL RESERVE BAEKS ON FEBRUARY 17, 1932 ( i n t h o u s a n d s of d o l l a r s ) B-681b T o t a l Boston Few 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 Minn. Kans.Cy. D a l l a s San F r a n . 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 2 , 0 5 3 , 9 3 0 164,627 Cold 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 5 6 , 4 g 4 4,628 445,21$ 162,700 212,470 11,192 7,011 7,332 7b,170 2,259 83,275 545,620 3,23% 6,506 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 2,110,424 Gold s e t t l e m e n t f u n d w i t h F . R . Board 270,787 Crold and g o l d c e r t i f . h e l d by b a n k s 562,375 456,407 1 6 9 , 7 1 1 219,802 119,535 1 3 , 6 1 3 3 2 , 7 2 1 365,268 2 6 , 0 2 1 24,119 78,429 7,721 86,509 552,126 74,746 5 5 , 5 4 4 169,255 13,193 20,089 72,39^ 2,351 7,023 8,784 25,000 54,193 6,470 11,541 5,309 29,396 11,935 6,159 92,309 102,316 631,319 92,757 5^,655 889 5,516 2,203 56,080 3,109 3 0 , 9 6 0 149,763 998 6,985 59,189 3 1 , 9 5 8 156,7^8 11,477 12,589 7,198 3,493 21,320 27,916 Total gold r e s e r v e s 1.2serves o t h e r than g o l d 2 , 9 4 3 , 5 8 6 202,537 2.01,958 1 9 , 7 8 1 941,210 2 0 9 , 3 ^ 5 276,642 Total reserves Ton-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 3,145,544 222,318 77,067 7,784 991,838 230,474 292,457 103,195 107,625 66o,715 104,692 70,423 91,585 52,76s 217,454 21,952 5,l6l 4,002 4,44-9 4,279 n,937 3 M 5 2,056 2,100 3,417 6,485 Total b i l l s discounted f i l l s b o u g h t i n or)en market U* S . Government s e c u r i t i e s : Bonds Treasury notes 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 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 T©TAL RESOURCES 473,165 21,355 372,616 17,709 845,781 39,064 146,382 9,247 319.97s 23,323 75,504 5,686 3^5,S60 26,959 7 4 1 , 3 4 2 55,968 29,995 3.230 1,763,500 107,509 8,595 13,810 421,531 57,820 39,917 5,527,784 695 218 47,046 3,336 1,130 50,628 132,716 45,104 21,129 59,674 62,718 15,815 69,262 51,825 177,820 122,392 121,087 46,287 6,466 7,513 110,144 31,555 129,419 23,083 5,568 29,812 26,051 7,353 10,886. Il6,4l6 14,817 14,881 38,875 4l f 294 2,626 7 , 9 5 9 1,407 1,984 7,l60 8,330 7,968 13,563 4 9 , 3 6 1 14,739 2,920 7,911 35,997 26,544 7,871 10,830 3 0 , ^ 5 9 36,258 4 9 , 5 6 0 75,905 22,610 13,750 38*370 28,290 4,6o6 19,088 8,935 17,996 17,844 1,897 1,972 5 , 1 6 4 6,102 9,890 9,126 12,594 107,315 27,806 2?,78I 19,958 400 58,527 3^7 1,083 29,597 3,605 4,916 75O 70,715 321 697 11,052 2,488 4,086 3,490 880 553 206,930 57,299 46,410 1,225 2,502 51,916 7,827 4,270 21 1,003 17,131 3,46l 1,991 7,407 14,033 134,932 5,223 54,086 11,715 15,847 1,269 9,171 2,787 2 , 0 4 4 13,384 4,326 90,887 44,045 5,731 44,058 5,923 2,809 11,224 11,470 7^811 1,038 20,220 10,119 7,488 35,168 7 , 3 1 2 271,118 5 8 , 4 6 3 68,572 1 4 , 0 8 1 15,486 2,636 700 5 1 0 , 7 1 1 189,957 197,172 3,062 9^1 876 3,667 422 845 63,263 83,255 4 2 , 6 4 9 205,984 9,897 29,865 4 7 , 7 4 1 1,870 66,135 4 8 , 5 0 4 13 373 252 1,007 1,834 1,434 1,14-9 7,166 21,729 3,649 24,733 243 283 14,873 1,785 1,522 203,631 599 1,710 24,436 4,433 1,147 390,036 1 , 6 7 7 , 3 4 4 469,863 546,589 205,719 201,263 9 4 7 , 3 2 2 189,043 129,709 187,606 123,395 459,895 L I A B I L I T I E S F.R.notes in actual 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 RESOURCES AND LIABILITIES OF" THE FEDERAL RESERVE BAMS' ON FEBRUARY 17, 1932 ( 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 Few 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 Minn. Kans.Cy. D a l l a s San F r a n . 2,656,941 182,721 572,l4i 263,175 311,339 104,369 119,982 570,761 93,380 63,770 23,035 4 1 , 5 0 2 2 ^ , y i 6 1,904,246 121,423 27,214 2,447 3 g ,84s 3,231 ^2,81] 242 Total deposits D e f e r r e d a v a i l a b i l i t y iterns Capital p a i d in Surplus All other l i a b i l i t i e s 2,013,121 412,877 157,915 259,421 127,392 47,354 11,643 20,039 TOTAL LIABILITIES Heserve r a t i o ( p e r c e n t ) 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 c o r r e s p o n d e n t s 5,527,784 390,036 67.4 71 f l . 77 Federal reserve notes: I s s u e d to P.a."bank by F , R . a g e n t 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 bank 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 Total c o l l a t e r a l 27,509 15,348 831 802,597 119,397 140,663 51,052 48,031 256,142 55,832 4o,955 67,762 49,637 150,694 5,300 1,837 2,254 1,59s 2,440 1,544 2,902 1,322 1,888 1,207 2,475 9,749 4,447 4,361 1,727 1,597 5,785 1,511 1,252 1,209 2,979 950 30,754 393 3,233 164 333 1,095 64p 123 25L 20. 5,395 848,400 126,074 150,511 54,5,47 52,401 264,566 60,935 43,578 71,025 52,143 161,543 113,212 36,578 40,200 28,910 10,958 52,055 18,855 6 , 5 7 2 20,504 15,476 22,203 60,300 16,363 14,629 5,381 5,007 17,7^4 4,512 2 , 9 4 s 4,154 4 , 0 5 0 11,189 75,077 26,486 2 7 , 6 4 0 11,423 10,449 3s,411 10,62s 6,356 8 , 1 2 4 7 , 6 2 4 17,707 2,220 1,029 2,4r ',214 1,18 2 3,795 1,336 1,425 764 2,600 1,537 1,677,344 469,863 546,589 205,7iq 201,263 ^ 7 , 3 2 2 189,O4I 129,709 137,606 123,395 459,295 " ' • " 69.3 59.2 63.3 64.9 62.4 79.1 67.8 " 62.7 59.4 56.3 53.4 23,867 103,688 32,346 31,713 12,561 11,619 42,081 10,991 9,107 8,793 21,66 FEDERAL RESERVE NOTE STATEMENT 2 , 9 2 3 , 2 3 6 205,277 266,895 22,556 2,656,941 182,721 / » 752,250 47,010 1,301,680j 117,617 946,9jg 45,74s 3,000,86^ 210,375 622,869 2 7 7 , 7 H 329,436 114,261 138,477 632,460 97,87 70,797 94,917 48,075 291,680 50,728 14,536 18,04-7 9,892 12,495 61,699 4,496 2,027 11,882 6,573 45,964 572,141 263,175 311,389 104,369 119,922 570,761 93,380 ;,77o 23,035 41,502 245,716 330,215 115,000 212,822 658,037 S±~ B i l l s discounted B i l l s bought 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 ',909 Total Within 15 days 845,781 146,382 345,860 655,759 56,296 3,830 41,818 3,432 57,400 64,470 11,570 105,30c i4s,ooo 64,600 121,257 125,168 42,251 283,957 337,638 118,421 12,775 97,620 15,495 13,155 9 , 2 8 0 12,260 81,000 70,500 44s,000 56,000 41,500 46,200 18,700 62,763 55,568 9 1 , 0 1 3 25,662 16,344 43,267 17,209 1 5 0 , 5 138,943 636,633 98,057 70,999 99,347 42,169 3 0 0 , 2 8 4 ^ MATURITY DISTRIBUTION OF BILLS AFD SHORT TERM S"•CUR I TIES 91 days to l 6 to 30 days 31 to 60 days 6 l to 90 days 6 months 49,542 46,620 73,587 16,181 22,255 61,295 241 32,782 7,050 131 34,992 20,025 57 83,316 20 Over 6 months 4*092 132,356
@FedFRASER