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STATEMSTT FOR THE PRESS 3-781 F e d e r a l R e s e r v e Board May 19, 1932. Released f o r p u b l i c a t i o n F r i d a y morning, Ma;* 20; not e a r l i e r . CONDITIO?7 OF FEDERAL RESERVE BAMS 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 the week e n d i n g May 18, 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 , 9 4 U , 0 0 0 , 0 0 0 , an i n c r e a s e of $ 4 9 , 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 of $1,02%,000,000 comp a r e d w i t h t h e c o r r e s p o n d i n g weelc i n 1931 • On May 18 t o t a l r e s e r v e bank c r e d i t amounted to $ 1 , 9 8 8 , 0 0 0 , 0 0 0 , an i n c r e a s e of $69,000,000 f o r t h 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 813,000,000 in money i n c i r c u l a t i o n and $ 4 8 , 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 &H0,000,000 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 an i n c r e a s e of $28,000,000 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 $7,000,0-'JO i n u n e x pended c a p i t a l f u n d s , nonmember 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 $ 7 , 0 0 0 , 0 0 0 a t the F e d e r a l Reserve Bank of San F r a n c i s c o , and d e c r e a s e d $ 5 , 0 0 0 , 0 0 0 a t Chicago, $ 4 , 0 0 0 , 0 0 0 a t C l e v e l a n d and $ 6 , 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 n a r k e t d e c l i n e d $2,000,000,, while h o l d i n g s of U n i t e d S t a t e s bonds i n c r e a s e d $ 1 3 , 0 0 0 , 0 0 0 , of T r e a s u r y n o t e s $ 1 1 , 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 $57,000,000. 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 n s d u r i n g t h e week and t h e y e a r ending May 18, 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 May 18 1932 May 11 1932 May 20 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 4G5 4i 1,466 16 - 6 2 + 316 3 90 + S07 - 1,988 4,274 1,799 + 69 +1,094 + 28 + - 498 5,449 Money i n c i r c u l a t i o n 2,192 Member bank r e s e r v e b a l a n c e s 421 Unexpended c a p i t a l f u n d s , nonrnenber d e p o s i t s , e t c . + 18 + 48 - 7 + - 810 219 TOTAL RESERVE BANK CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d — + 81 - - 4o + 7 13 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, May 20,1932; n o t e a r n e r . B-7S2a RESOURCES AID LIABILITIES OF THE TWELVE FEDERAL 2 2 S W B 5AMCS CO>fiEPTED ( i n t h o u s a n d s of d o l l a r s ) M2.LJiL.i9i2 May 11,1932 May 20.1931 2,177,750 36,95** 2,214,704 370,787 333,5^1 2,919,032 2,219,609 1,790,864 32,514 1,823,378 583,418 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 redemption f u n d w i t h U . S . T r e a s u r y . g o l d h e l d exclusively against F.R.notes Gold s e t t l e m e n t f u n d w i t h F . 5 . 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 Total sold reserves . . . . . . . Reserves other than gold Total reserves . . . . I T o h - r e s e r v e 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 bought 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 34.818 2,254,447 335,320 366,050 2,956,417 3,223,287 203,123 3,122,155 72,905 207,733 3,164,150 176,615 3,399,902 77,209 75,046 159.0S3 275,060 464,943 4o,643 190,5^5 280.818 49,875 99,001 148,376 355,65s 165,422 471,373 42,719 346,147 153,740 835,380 816,491 131,007 59,171 52,231 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 . . „ 942,323 1,456,403 5,023 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 b a n k s Uncollected items Zscxz p r e m i s e s All other resources . 1,977,012 4,629 14,733 393,311 53,084 33,457 1,904,401 4,6no 14,994 354,586 5,681,286 5,615,640 4,961,207 2,558,107 2,551,363 1,551,458 2,192,403 26,429 45,578 25,125 2,144,373 2,410,799 15,445 5,727 20,551 . . . TOTAI RESOURCES ] 1,385,267 5,042 58,082 487,134 598,536 767 879,186 • 699 16,492 512,172 58,580 37,519 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 . . . . Deoosits: 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 Total deoosits 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 2,289,535 387,06s 154,784 259,4.21 32,371 51,075 44,177 33,350 2,272,975 344,884 154,806 259,421 32,191 5,681,286 5,615,640 2,452,524 497,812 168,476 274,636 16.301 4,961,207 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 ana,, F . R. n o t e l i a b i l i t i e s combined 64.4$ 65.6$ 84.9# 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 239,948 270,741 383,698 RESOURCES A11D LIABILITIES OF THE FEDERAL RESERVE BAKES OIT I1AY 18, 1932 ( I n t h o u s a n d s of d o l l a r s ) B-7S2b T o t a l Boston TTevr York P h i l a . C l a v e . 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 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 , 1 7 7 , 7 5 ° 187,627 '467,965 1 2 2 , 5 0 0 222,470 67,470 92,975 555.395 To,625 5 8 , 8 2 0 6 3 , 0 3 0 25,060 177,7^3 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 3 6 , 9 5 4 1,649 10,459 4,079 4,123 1,603 2,189 2,951 1,727 929 2,377 983 3,855 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 , 2 1 4 , 7 0 4 189,276 4-73,454 186,579 226,593 69,073 9 5 , 1 5 4 552,346 78,352 59,749 65,457 26,043 181,618 Gold s e t t l e m e n t f u n d w i t h F . R. Board 370,727 33,445 l60,037 7 , 0 2 8 24,425 1,470 9,076 36,204 5,429 1 0 , 0 2 3 10,519 4 , 0 9 1 18,920 Gold and g o l d c e r t i f . h e l d by b a n k s 3 3 3 , 5 4 1 16,699 185,698 9 , 4 l S 17,351 6,951 7,389 27,295 11,226 3,052 11,171 5 , 4 4 7 30,786 R E S O U R C E S T o t a l mold r e s e r v e s Reserves o t h e r than gold Total reserves 2 , 5 1 9 , 0 3 2 239,420 203,123 21,701 824,139 203,023 268,929 51,177 2 7 , 7 6 2 1 7 , 7 6 0 7 7 , 4 9 4 112,129 671,84$ 12,728 6 , 0 l 4 23,24% 95,127 10,169 72,224 3,749 37,l4? 6,976 3 5 , 5 8 1 231,324 11,036 10,810 3 , 1 2 2 , 1 5 5 26-1,121 8 7 5 , 3 6 6 2 3 0 , 7 8 5 286,689 9 0 , 2 2 2 1 1 8 , l 4 3 695,026 105,296 46,617 242,134 76,573 94,123 72,905 5,723 20,519 3,634 3,721 3/465 4,973 12,662 3,967 2,137 2,157 3,652 6,295 189,02] 2/5,-60 11,6^2 15,151 6l,5]l 16,063 19,^52 ^0,39^ 22,7^3 30,953 ^,579 19,095 7,2^2 23,099 11,34} lp,7v9 7,835 5,393 3,339 8,9^5 ^,722 20,929 1,572 9,809 30,372 ^"9,533 464,943 40,64-3 28,999 2,346 92,194 13,278 59,848 3,387 53,701 3,104 23,674 2,329 30,34l 1,495 27,642 4,Sl4 13,233 1,005 12,324 692 25,651 1,277 11,381 994 79,955 5,322 352,65s 165,422 942,323 13,406 S,l64 44,525 178,234 72,195 463,519 24,419 13,430 73,756 24,615 15,735 86,4lS 6,175 3,9^8 21,684 4 , 2 0 6 52,034 2 , 6 0 8 19,452 1 4 , 3 2 5 106,829 7,900 4,730 25,973 12,556 3,152 17,307 6,816 4,310 23,684 14,775 3,053 16,768 13,522 8,645 47,475 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 1,466,403 66,155 719,948 1 1 1 , 6 0 5 126,768 31,807 21,139 175,315 38,603 33,015 28 34,810 3^,596 69,642 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 . E . n o t e s of o t h e r b a n k s Uncollected items 1,977,012 46,059 61,733 ' 136 1,309 19,734 3,649 4 6 , 9 7 1 154,919 324 131 1,823 262 12,423 19,185 4,433 1,737 64o 1,319 Eon-reserve cash B i l l s discounted: S e c u r e d by U . S . Govt, 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 Bank premises All other resources TOTAL RESOURCES 5.023 4,629 14,733 393,311 52,024 38,457 - 97,500 374 297 45,215 3,336 1,733 3,320 1,675 - 8 3 5 , 3 4 0 1 7 6 , 5 1 5 183,573 1,629 474 507 4,540 891 361 111,930 3 5 , 7 1 2 39,899 14,817 7,966 2,873 19,192 1,673 853 — 57,810 182 999 29,39^ 3,612 4,121 - - 52,975 210,771 660 174 660 1,857 9,753 46,674 2,489 7,327 3,684 1,439 - 52,24l 20 1,353 16,154 3,461 1,311 12 351 7,188 1,334 1,339 1,103 5,621,226 415,349 1,853,333 451,240 524,226 129,211 192,251 977,005 124,403 135,493 133,999 113,162 429,753 L I A B I L I T I RESOTJBCES A^ID LIABILITIES OF THE F S W , RESERVE BA^CS OF l.(AY IS, I932 ( 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 . CI eve, R i c h . A t l a n t a Chicago S t . L o u i s - » 1 0 7 191,5°7 5°5>9°0 248,111 291,623 9 1 , 5 4 3 11^,267 551,260 90,124 F . 3 . n o t e s in a c t u a l c i r c u l a t i o n Deposits: Eetiber 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 , 1 9 2 , 4 0 3 l 4 l , S l 6 1 , 0 2 7 , 2 7 2 119,591 l 4 l , 3 0 2 26,429 282 9,331 345 1,133 45,57s 3,442 15,053 4,665 4,574 25,125 4i 13,226 166 2,539 Total deposits Deferred a v a i l a b i l i t y items Capital paid in SuiTlus All other l i a b i l i t i e s 2 , 2 3 9 , 5 3 5 145,531 1 , 0 6 4 , 3 3 2 125,267 150,04c 337,063 4 5 , 5 7 1 1 0 7 , 3 0 s 33,142 3 5 , 4 1 0 154,734 11,526 59,13'+ 1 6 , 2 3 1 14,21% 259,421 20,039 75,077 26,456 27,640 32,371 1,065 10,452 2,003 2,945 TOTAL LIABILITIES 5 6 ' S'kS6 Heserve r a t i o ( p e r c e n t ) 64.4 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 - u r c h a s e d f o r f o r e i g n c o r r e s p o n d e n t s 239,943 U 7^'if9 77.4 . 1 , S 18,622 Federal reserve notes: I s s u e d to F . R . b a n k by F . E . a g e n t 2 , 7 6 2 , 6 7 3 209,920 Held "by F e d e r a l r e s e r v e bank 204,566 I S , 3 5 3 In a c t u a l c i r c u l a t i o n 2 , 5 5 8 , 1 0 7 191,567 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 915,160 47,010 Gold f u n d - F . R. Board 1 , 2 6 2 , 5 9 0 140,617 E l i g i b l e paper 465,544 2 5 , 9 3 4 U. S. G o v ' t s e c u r i t i e s 148,300 Total c o l l a t e r a l 2,791,594 216,611 ?^33 5 3 . 77 r!'?0 b l . 8r, 7^,79; 25,233 5 ^'?S 6f 4, . 9^ 6 24,743 49,492 732 1,312 112 52,l4s 28,231 5,213 11,483 1,13s 1S9 '311 6 2 6 2 .. 8g 46,595 309,946 1,550 3,777 1,676 6,069 191 437 50,012 320,229 9,663 45,793 4,876 17,322 10,449 3 8 , 4 1 1 2,584 3,930 1 9,S01 B-782c Minn. Kans.Cy. D a l l a s San F r a n . 73,432 s o , 5 S 8 35,349 222,752 55,797 2,720 1,535 364 41,530 1,100 996 339 69,293 698 1,313 63 43,977 145,287 1,485 2,776 1,26s 3,125 2,285 4,862 60,966 17,404 4,4s10,025 1,401 43,965 7,205 2,933 6,356 1,590 71,372 19,016 4,090 8,124 809 4 9 , 0 1 5 156,050 14,642 20,125 3 , 9 6 0 10,796 7 , 6 2 4 17,707 2,072 2,323 5 2 . g 5 i 977,006 154,403 135,493 183,999 113! 162 429[753 71.5 79.8 69.7 65.2 61.9 54.9 63.9 9,066 32,834 5,576 5,391 7,106 565,9o0 245,111 2 9 1 , 6 2 s 35,513 132,377 579,771 7,270 17,110 28.505 9 1 , 5 4 3 115,267 551,266 94,016 3,592 90,124 76,439 3,007 73,432 85,482 7,594 50,538 40,262 252,402 4 , 4 1 3 29.650 35,549 222,752 442,965 76,140 71,970 25,000 106,360 150,500 100,719 59,966 53,516 64,000 15,000 3 0 , 0 0 0 12,420 55,050 24,576 7,0 00 15,625 61,000 12,471 5,000 94,096 13,120 45,700 11,910 6,300 77,030 10,280 52,300 25,523 4,000 1 2 , 2 6 0 76,000 1 2 , 8 0 0 101,763 11,267 78,835 4,000 92,603 4 0 , 3 2 7 256,59s 6,361 16,907 FEDERAL RESERVE rOTE STATEMENT 626,210 260,447 303,534 60,230 12,336 11,906 632,634 260,466 305,986 13,975 123,395 79,000 432,000 30,032 25,045 10,000 99,046 133,007 533,440 MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES rotal B i l l s discounted B i l l s bought i n or)en market C e r t i f i c a t e s and b i l l s Municipal warrants 464,943 40,643 942,323 5,023 Within 15 days 331,176 5,042 51,950 3,819 l 6 to 30 days 31,644 7,600 40,550 1,031 31 to 60 days 49,932 12,330 112,050 110 6 l to 90 days " 23,665 11,931 159,525 28 91 days to 6 months 19,272 240 316,059 35 Over 6 months 4,254 232,159
@FedFRASER