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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, Nov. 13; not e a r l i e r . B-556 F e d e r a l Reserve Board November 12, 1931 CONDITION OF FEDERAL RESERVE BALTICS 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 ending November 11, 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 h a n k s , was $ 2 , 0 9 5 , 0 0 0 , 0 0 0 , a d e c r e a s e of $79,000,000 compared w i t h the p r e c e d i n g week and an i n c r e a s e of $1,0o2,000,000 compared w i t h the c o r r e s p o n d i n g week i n 1930. On November 11 t o t a l r e s e r v e bank c r e d i t amounted t o $2,064,000,000, a dec r e a s e of $45,000,000 f o r the week. T h i s d e c r e a s e c o r r e s p o n d s with d e c r e a s e s of $26,000,000 i n money i n c i r c u l a t i o n and $23,000,000 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 $35,000,000 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 $18,000,000 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 $21,000,000 i n Treasury c u r r e n c y , 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 i n c r e a s e d $5,000,000 a t t h e F e d e r a l Reserve Bank of P h i l a d e l p h i a and d e c l i n e d $10,000,000 a t San F r a n c i s c o , $8,000,000 a t New York, $7,000,000 a t Chicago and $21,000,000 a t a l l Federal r e s e r v e banks. The System'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 $45,000,000 while h o l d i n g s of United S t a t e s s e c u r i t i e s were p r a c t i c a l l y unchanged* 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 items d u r i n g t h e week and the y e a r ending November 11, 1931, were a s f o l l o w s : I n c r e a s e o r d ecreas e since Nov. 11 1931 Nov. 4 1931 Nov. 12 1930 ( 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 TOTAL RESERVE BANK CREDIT Monetary gold s t o c k Treasury c u r r e n c y a d j u s t e d 6S4 597 727 56 2,064 4,346 1,746 Money i n c i r c u l a t i o n 5,517 Member bank r e s e r v e b a l a n c e s 2,099 Unexpended c a p i t a l funds,nonmsmber d e p o s i t s , e t c . 5^0 21 45 1 +22 + - 45 35 21 - 26 - 23 +18 + 492 + 390 +126 +22 +1,030 - 203 - 52 +1,04} - 391 + 125 R e l e a s e d - f o r p u b l i c a t i o n Friday morning, HOT. 13,1931; not e a r l i e r . B-556a RESOURCES MD LIABILITIES 0? THE TWELVE FBDETJIL RESERVE 3A2TKS COMBINED ( I n thousands of d o l l a r s ) Hov. 11,1931 HOT. 4,1931 HOT.12, 1930 Gold with 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 with U.S.Treasury . 1,535,806 70,337 1,592,166 70,545 1,598,251 34,255 Gold h e l d e x c l u s i v e l y a.rainst 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. 2 . Board Gold and gold c e r t i f i c a t e s h e l d by banks 1,706,143 396,679 723,325 1,552,711 359,379 Total sold reserves Deserves o t h e r than gold Total reserves llon-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 bought i n open market U. S. Government s e c u r i t i e s : Bonds Treasury n o t e s C e r t i f i c a t e s and b i l l s T o tal U.S.Government s e c u r i t i e s . Other s e c u r i t i e s 2,826,647 162,737 2,989,384 67,364 2,772,746 1,632,506 492,364 903,626 3,028,496 327,02b 356,738 623,764 596,752 343,6 9 2 361,532 705,224 542,033 316,852 26,950 316,963 26,951 383,662 727,576 30,194 RESOURCES T o t a l b i l l s and s e c u r i t i e s Dae from f o r e i g n banks Uncollected items Bank premises A l l other r e s o u r c e s TOTAL RESOURCES 383,661 727,453 31,599 2,039,578 8,709 17,739 477,643 59,410 44,369 750,656 160,639 2,933,385 62,4IO 2,105,027 9,297 16,842 433,774 59,389 44,846 148,764 3,177,260 68,752 85,064 125,593 191,657 207,342 38,137 281,730 281,423 601,290 6,297 1,006,586 705 19,780 619,296 59,700 16,043 5,704,196 5,554,970 4,968,122 F. Ft. notes in 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 Foreign bank Other d e p o s i t s 2,449,95: 2,447,069 1,371,148 2,098,533 2,122,145 2,490,239 24,196 5,419 19,757 Total deposits Deferred a v a i l a b i l i t y items C a p i t a l "oaid in Surplus A l l other l i a b i l i t i e s 2,333,349 461,933 l64,44i 274,636 19,878 2,319,271 439 , 217 lS4,507 2,539,661 592,135 170,464 20,270 17,778 5,704,196 5,554,970 L I A B I L I T IBS TOTAL LIABILITIES . . . 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 and F. R. note l i a b i l i t i e s combined . . . . Contingent l i a b i l i t y on b i l l s purchased for f o r e i g n correspondents 49,600 133,008 52,208 30,481 131,431 35,214 274,636 276,936 4,968,122 62.5# 61.5% 81..2$ 108,862 105,470 426,541 RESOURCES Alto LIABILITIES OF THE FEDERAL RESERVE BAHCS ON NOVEMBER 11, 1931 ( i n thousands of d o l l a r s ) B~556b Total Boston Hew York P h i l a . Cleve. Rich. Atlanta. Chicago S t . L o u i s Minn. Kans.Cy. Dallas San F r a n . Gold with Federal r e s e r v e a g e n t s 1,635,806 96,627 327,336 200,000 201,470 57,670 51,150 438,l40 4 l , 6 3 5 % J 3 5 3l,6gC 25,000 124,763 2,409 1,715 3,137 2,4l7 8,798 Gold redemption fund with U.S.Treasury 70,337 4,842 17,131 5,459 7,612 2,699 4,396 SJlS 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. notes 1,706,143 101,475 344,467 205,459 209,022 60,369 55,546 447,856 44,o44 42,050 34,817 27,417 133,561 Gold s e t t l e m e n t fund with F.R.Board 396,679 22,624 129,674 25,076 60,113 14,612 9,476 22,400 15,602 10,399 12,718 18,215 49,764 Gold and gold c e r t i f . h e l d by "banks 723,825 31,324 500,896 33,727 21,100 5,753 9,393 62,699 12,938 6,216 10,207 3,826 25,096 Total s o l d r e s e r v e s 2,826,647 155,423 975,037 264,262 290,295 80,740 74,415 532,955 72,634 52,665 64,342 49,458 208,421 Reserves other than gold 7,963 162,737 19,014 38,019 ii,46o 13,216 7,250 6,175 29,408 11,107 4,022 7,646 6,857 RESOURCES Total reserves Non-reserve cash B i l l s discounted: Secured "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 T ot al b i l l s d i s c o u n t e d 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. 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 Dae from f o r e i g n banks 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 premises All other resources TOTAL RESOURCES 2,989,384 174,437 1,013,056 275,722 303,5H 88,590 80,590 562,363 23,741 62,627 71,985 56,315 216,384 4,455 67,364 9,976 a , 553 3,436 2,925 2,523 3,542 9 ,945 2,914 1,823 1,565 2,647 6,071 55,017 921 2,644 10,659 12,,264 5,224 26,362 33 , 232 20,330 13,928 6 ,145 35,012 24,335 28,249 69,335 24,587 2 2,127 36,077 18,410 67,641 96,317 26,387 327,026 12,617 356,738 8,592 683,764 a , 209 596.752 63,74o 65,814 40,772 50,387 65,884 116,201 106,662 163,767 8,290 316,852 23,555 26,950 195 383,661 33,811 727,463 57,565 31,599 1,970 22,832 25,418 11,016 6,060 53,460 11,432 15,734 2,111 12,264 18,209 2,^60 31 218 70 25 9,731 6,639 273 3,596 3,567 95 127,249 31,932 47,597 16,295 8,786 47,131 16,177 12,129 11,373 4,24i 26,934 241,989 52,337 73,233 27,406 17,306 100,864 31,211 27,933 19,515 17,130 54,924 — 600 2,085 630 1,980 654 15,120 7,800 700 2,039,578 144,484 690 8,709 207 17,739 477,643 47,311 59.410 3,458 44,369 1,044 537,137 181,089 217,826 83,333 io4,o6i 262,651 82,815 56,909 90,604 59,875 212,794 262 26 823 17 3,165 253 594 911 350 315 1,243 2,422 291 1,552 865 7,oo4 1,347 522 542 875 1,375 737 9,216 24,66o 16,488 23,027 165,491 33,676 39,069 34,3a 14,152 47,975 21,757 4,622 2,614 7,930 15,240 3,716 2,572 8,061 3,635 1,926 3,204 1 , 8 3 2 2,222 1,560 1,492 3,494 1,094 2,215 2,170 6,763 2,685 3,641 15,929 52,56s 49,662 102,230 42,363 14,945 2 9 , I 4 I 35,726 39,072 50,671 16,149 35,424 9,937 49,055 108,101 5,704,196 322,107 1,778,635 500,160 579,782 216,893 209,610 902,875 192,457 1 34,720 195,231 141,204 464,522 RESOURCES ASD LIABILITIES OF THE FEDERAL RESERVE BAITKS 03? NOVEMBER 11, 1931 ( i n thousands of d o l l a r s ) B-556b Total Boston IJew York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. Dallas San Fran. L I A B I L I T I E S 2,449,959 147,937 F,P..notes ill a c t u a l c i r c u l a t i o n Depvtits: 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 d e p o s i t s D e f e r r e d a v a i l a b i l i t y items C a p i t a l .paid i n Surplus All other l i a b i l i t i e s 2,098,533 137,559 49,600 3,760 133,008 11,242 TOTAL LIABILITIES Reserve r a t i o (per c e n t ) Contingent 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 Federal r e s e r v e n o t e s : I s s u e d to F.H. bank by F.R.agent 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 agent as 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 gold 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 485,863 276,046 315,703 100,4S0 120,31s 492,127 86,076 64,066 £0,033 51,366 229,914 903,179 1 28,519 1 51,433 56,235 49,029 276,970 2,816 2,566 5,439 15,724 3,713 5,486 32,432 1 4,839 1 5,139 5,996 5,396 20,235 S4 222 2,333,349 152,597 986,816 147,174 179,738 65,269 57,075 303,283 461,933 47,895 154,455 32,602 38,592 32,533 13,885 46,576 l64,44i 11,765 64,188 16,720 15,254 5,541 5,203 18,334 274,63b 21,299 80,575 27,065 28,971 12,114 10,857 39,936 19,878 564 6,738 553 1,464 971 2,272 2,619 5.704,196 382,107 1.77S,635 500,160 579,782 216,893 209,610 902,875 68.8 62.5 58.0 4 65.I 61.3 70.7 53.5 108,8o2 7,450 42,209 2,775,039 176,584 325,080 28,597 2,449,! '59 147,987 ^0 c ! 47,010 49,617 82.400 2,853,9^179,027 Total 3,573 3,576 13,410 3,477 2,285 2,881 161,870 1,780 10,192 C C7)l 180,716 23,113 11,356 18,475 948 464,522 52-7 2,980 6,755 FEDERAL RESERVE 3T0TE STATE: i^TT 544,565 304,600 342,552 108,863 134,944 579,459 89,862 66 , 590 9 2,756 64,530 269,734 58,702 22,554 26,849 8,403 14,626 87,33 2 3,786 2,524 12,723 13,164 39,820 485,863 276,046 315,703 loo,46o 120,318 492,127 86,076 64,066 80,033 51,366 229,914 297,336 42,700 64,470 10,070 10,900 92,l4o 30,000 157,300 137,000 47,600 40,250 346,000 249,346 107.401 141.178 53,619 84,584 160.693 576,682 307,401 342,64s 111,289 135,734 598,833 -Itt B i l l s discounted B i l l s bought i n open market C e r t i f i c a t e s and b i l l s Municipal w a r r a n t s 9,834 10,032 64,320 45,195 72,915 51,309 2,754 1,695 1,276 2,591 5,246 3,447 4,347 4,497 412 4o6 l6l 50 72,732 50,743 76, 588 58,558 22,859 8,995 23, 117 17,306 4,76s 2,971 4,, 201 4,i4o 10,562 7,144 s, 702 8,936 l,46o 801 828 590 198,457 134,720 195,231 i 4 i , 204 54.6 45.4 52.7 51.2 623,764 596,752 383,661 4,109 Within 15 days 486,659 127,817 14,635 7,435 9, 880 27,000 32,900 21,800 48.336 26.670 69.609 89,971 67,005 101,289 MATURITY DISTRIBUTION OF BILLS MD SHORT TERM SECURITIES r 91 days to r g months 1 o t o 30 days 31 to 60 days 61 to 90 days 49,627 160,348 20,588 30 95,123 255,473 95,873 3,-e40 ' 35,556 49,821 40,176 166 15,129 3,293 125,118 28 12,300 84,000 12,700 40,763/' 41..090 1 53^-ggg 66,090 277,,-98^ ~W*a_ Over 6 months 1,670 65,515
@FedFRASER