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STATEMENT TOE T^E PRESS Released 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 , Mar. 11; not e a r l i e r . 9-705 F e d e r a l R e s e r v e Board March 10, 1932. CONDITIO"" OF FEDERAL RESERVE BAMCS 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 banlc 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 March 9> 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 , 7 2 8 , 0 0 0 , 0 0 0 , u n c h a n g e d from t h e p r e c e d i n g week and an i n c r e a s e of $ 7 ^ 4 , 0 0 0 , 0 0 0 compared w i t h t h e c o r r e s p o n d i n g week i n 1931# On March 9 t o t a l r e s e r v e bank c r e d i t amounted to $ 1 , 6 9 ^ , 0 0 0 , 0 0 0 , a d e c r e a s e of $31 r. 000 5 000 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 d e c r e a s e s of $39COO, 000 j n money i n c i r c u l a t i o n and $ 3 , 0 0 , 0 0 0 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 an i n c r e a s e of $ 1 2 , 0 0 0 , 0 0 0 i n m o n e t a r y g o l d s t o c k , o f f s e t i n p a r t by an i n c r e a s e of $ £ , 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 a d e c r e a s e of $ 1 6 , 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 d e c l i n e d $ 2 5 , 0 0 0 , 0 0 0 a t t h e F e d e r a l R e s e r v e Bank of Few York, $ 2 4 , 0 0 0 , 0 0 0 a t P h i l a d e l p h i a , $ 6 , 0 0 0 , 0 0 0 a t Chicago, $ 5 , 0 0 0 , 0 0 0 each a t A t l a n t a and San F r a n c i s c o and $ S 0 i 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 b o u g h t i n open m a r k e t i n c r e a s e d $ 2 2 , 0 0 0 , 0 0 0 , of T r e a s u r y n o t e s * $ 4 , 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 $ 2 1 , 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 March 9* 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 Mar. o 19)2 v (I Bills discounted B i l l s "benight 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 t a n k c r e d i t 7U0 13o 735 27 TOTAL EES-THVE 3AFZ CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d 1,69C 4,3^2 1,775 Money i n c i r c u l a t i o n Member "ba.nl: r e s e r v e b a l a n c e s Unexpended c a p i t a l funds,nontnember d e p o s i t s , e t c . 5,544 1,910 3S2 Mar. 2 1932 Mar. 11 1931 : m i l l i o n s of d o l l a r s ) - + + + + - - + - 30 22 25 2 + 31 12 16 + + 756 315 3 39 + 990 3 - + + - 575 13 ISO 14 - 526 - 19 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, Mar. 11,1932; n o t e a r l i e r , B-fO^a RESOURCES A7T) LIABILITIES OF THE TWELVE FEDERAL RESERVE BA'^S COMBINED ( I n thousands of d o l l a r s ) Mar. 9 , 1 9 3 2 Mar. 2,1932 Mar. 11. 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 2,056,147 54,744 1,715,384 33,118 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 banks 2,092,347 53,834 2,146,181 322,321 490,918 2,110,391 278,531 549,552 1,743,502 500,222 847,650 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 2,959,420 207,869 2,938,974 206,381 3,096,374 184,172 Total reserves Fon-resarve 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 3,167,289 76,144 3,145,355 73,549 3,280,546 78,878 397,340 350,639 462,142 366,260 49,628 122,922 747,979 137,534 828,402 115,640 172,550 151,402 318,7^7 83,797 382,609 318,686 79,501 361,768 76,025 178,195 350,484 785,123 9,497 759,955 6,073 604,704 1,680,183 1,710,070 8,613 13,658 356,634 57,824 39,035 8,605 14,880 384,984 57,821 39,730 928,656 69s 14,664 461,472 58,243 19,850 5,399,380 5,434,994 4,843,007 F . P.. 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 2,617,381 2,638,488 1,445,855 1,909,586 47,107 13,464 19,001 1,902,138 36,875 16,392 21,696 2,435,520 33,124 5,183 16,944 Total deposits Deferred a v a i l a b i l i t y items Capital naid in . . . . 1,989,158 347,564 156,385 259,421 29,471 1,977,101 375,058 156,665 259,421 r3,261 2,490,771 448,988 169,024 274,636 13,733 . . . . 5,399,380 5,434,994 4,843,007 Total b i l l s discounted B i l l s bought i n open 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 . . 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 Uncollected items Bank p r e m i s e s All other resources . . . TOTAL RESOURCES — L I A B I L I T I E S All other l i a b i l i t i e s TOTAL LIABILITIES 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 . . . 6 s . g£ 6s. if, 83.3^ 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 317,H3 311,640 460,945 RESOURCES AED LIABILITIES OF THE FEDERAL HSSSRV3 BAMS OU MAHCK 9, 1932 ( I n t h o u s a n d s of d o l l a r s ) R E S O U R C E S T o t a l Boston Few York P h i l a . C l e v e . Gold with F e d e r a l r e s e r v e a g e n t s 2 . 0 9 2 , 3 4 7 164,62? 448,217 176,900 207,470 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 ; - 53,834 4,593 11.030 6,930 6.285 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 , 1 4 6 , 1 8 1 169,220 :r:i:ie::.i:d^s « im 459,247 183,830 213,755 R i c h . A t l a n t a Chicago S t . L o u i s 74,170 91,275 549,920 77.420 2,094 2,703 5,460 2.340 Minn. Kans.Cy. D a l l a s San F r a n . 58,745 6 1 , 0 2 0 30,760 151,763 S81 3.103 1.093 76,264 59,626 s 93,978 555,380 79,760 ^ 64,183 31,853 159,085 <a ^ Total gold reserves Reserves other than gold 2 , 9 5 9 , 4 2 0 206,209 207,8b9 2 0 , 9 1 1 901,215 220,107 271,3^5 53,880 25,560 16,4-25 99,758 10,934 68,428 7,469 85,068 7,466 42,110 205,009 9,997 12,243 Total reserves lion-reserve casn 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 Otiier b i l l s d i s c o u n t e d 3 , 1 6 7 , 2 8 9 227,120 76,144 7,555 955,095 245,667 287,770 103,324 117,023 682,808 110,692 21,044 4,312 3,592 4,4o6 4 , 8 0 2 12,068 3,5^0 75,897 2,032 52,107 217,252 61, 8 1 1 y3,716 '1 2,813 S 5 , 4 l 4 12,284 44,900 15,097 130,314 3 q 4 l U 3071 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 : MU. T o t a l b i l l s and s e c u r i t i e s TOTAL RESOURCES 19,675 14,396 747,979 137,584 34,071 6,491 65,445 52,135 11,776 24,278 10,602 32,044 4l,011 24,500 11,275 7,089 1,487 9,l43 92,534 2 , 2 5v 6 ' 8,266 29,941 137,476 102,029 117,580 53,363 6,Ol4 6,830 36,054 6,212 42,646 6,887 65,511 15,882 18,364 4,773 10,630 1,673 38,207 5,211 v 92,875 44,601 46,701 55,328 ^ Wi 1:1 1:1 15 SI S IS 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 KWJK-. 397,340 350,639 92,033 111,656 656,482 11,291 5,367 26,326 %% 62,151 15S 1:1 i:l 1:1 £1 785,123 9,497 56,156 100 319,504 8,153 70,892 14,081 - 12,623 107,646 1,000 27,997 - 27,783 86 21,183 27,366 37 74l 1,680,183 96,818 523,496 170,352 195,302 56,3^7 62,156 190,039 51,^ 42,172 64,601 46,404 181,362 0 g IS s S ,.S S i$ ,3 ,8 jg s J& : I S 1:1 '51 ? 1 1 S l i Hi 11? a % 1# 5 , 3 9 9 , 3 8 0 3 7 4 , 7 1 4 1 , 6 4 5 , 3 1 4 456,947 528,159 198,952 202,321 940,088 186,899 130,170 1 8 2 , 9 9 4 118,611 4 3 4 , 2 1 1 L I A B I L I T I E S F.R.notes in actual circulation Deposits: Member t a n k - 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 RESOURCES AND LIABILITIES OF THE FEDERAL RESERVE BASICS OTT MARCH 9 , 1932 ( I n t h o u s a n d s of d o l l a r s ) B-705C T o t a l B o s t o n New York P h i l a . Clove. 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 . 2,617,381 173,001 564,536 1,909,586 1 1 9 , 0 4 4 47,107 6,025 13,464 1,254 19,001 6q 1,989,158 1 2 6 , 3 9 2 347,564 156,385 >59,421 37,780 11,550 20,039 29,471 TOTAL LIABILITIES 5,399,3SO 374,714 Reserve r n t i o (per cent) 68.8 74.6 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 317,113 24,043 259,622 307,388 102,089 804,502 1 1 9 , 5 3 9 2,25s 139,678 3,022 51,420 17,302 2,341 1,700 1,667 660 8,261 423 2,994 78 2,508 121,087 562,764 93,013 69,200 84,013 41,713 49,367 2 7 0 , 6 1 7 2,266 5,161 bll 2,211 1*1 809 58,914 42,053 66,919 1,199 1,651 578 617 363 329 2,034 478 47,840 139,693 1,336 2,345 462 1,135 4o 5,161 233,955 832,40b 1 2 3 , 9 2 0 1 4 7 , 3 6 1 5 4 , 6 6 6 1 0 4 , 3 0 6 2 3 , 8 1 2 2 9 , 0 0 1 24, v,6 59,471 1 6 , 3 6 2 1 4 , 3 3 1 5,313 27,540 11,483 75,077 26,486 __JLJ45 2,4)8 IjOdS 52,395 278,798 6 1 , 3 0 3 44,396 6 9 , 5 0 0 49,678 148,338 10,870 3 8 , 7 2 4 1 6 , 7 3 4 5,728 l 6 , 4 6 l 13,450 2 1 , 3 0 2 4,no 4,030 1 1 , 1 6 7 2,341 4,499 4,977 17,634 8,124 7,624 17,707 10,449 38,411 1 0 , 0 2 5 6,356 1.742 2.116 78b 1,120 . . i j M z . 3,757 1 3 0 , 1 7 0 1 8 2 , 9 9 4 118,611 4 3 4 , 2 1 1 1 , 6 4 5 , 3 1 4 4 5 6 , 9 4 7 5 2 8 , 1 5 9 1 9 8 , 9 5 2 2 0 2 , 3 2 1 9 4 0 , 0 8 8 186, 81 1 66. 68.4 64.1 56.3 57.0 67.5 71.7 55.9 63.3 60.3 103,891 32,584 31,952 12,654 11,705 42,391 11,073 6,960 9,174 8,85s 21,828 ;17,S56 273,062 324,698 111,510 138,302 6 l 4 , 0 1 3 55,320 18,440 17,510 9,421 17,215 51,249 98,03b 5,023 71,477 2,277 93,443 9,430 47,43s 284,238 5,725 50,283 564,536 259,622 307,388 102,089 562,764 93,013 69,,200 84,013 41,713 233,955 373,217 75,000 61,400 115,500 64,470 143,000 11,570 62,600 12,775 121,920 78,500 428,000 15,520 61,900 13,145 9,280 45,600 51,800 12,260 18,500 68,763 135,549 104,843 121,280 40,530 47,634 76,735 20,671 12,946 40,771 17,534 l 4 0 , 8 1 0 633,766 281,743 328,750 114,700 1 3 3 , 8 8 9 6 2 6 , 6 5 5 98,091 ,71,691 101,851 43,294 292,573 FEDERAL RESERVE rOTE STATEMENT Federal reserve notes: I s s u e d to F . R. b a r k b y F . R . a g e n t ?, 8 7 6 , 7 4 5 1 9 7 , 6 7 2 " l e l d by F e d e r a l r e s e r v e b a n k 259,364 19,671 In actual c i r c u l a t i o n 178,001 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 t o be Gold and g o l d c e r t i f i c a t e s 825,557 47,010 Gold f u n d - F . R. B o a r d 1,266,780 117,617 847,479 32,196 Total c o l l a t e r a l ?,939,826 2 0 2 , 8 2 3 771 t h i n 15 d a y s 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 747,979 137,584 570,71s 382,609 56,645 8,247 8,065 64,075 121,087 MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES 9 1 d a y s to t o 90 d a y s l 6 to JO d a y s 31 t o 60 days 6 months 14,699 42,467 65,815 49,994 251 11,409 27,862 33,987 106,066 79,213 6,300 4,250 20 32 130 83,000 Over o m o n t h s 4,286 130,135
@FedFRASER