The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
STATEMENT FOE THE PRESS Released f o r p u b l i c a t i o n Friday morning, Hov. 20; not e a r l i e r . B-564 Federal Reserve Board November 19, '1931* CONDITION OF FEDERAL RESERVE BASICS The d a i l y average volume of F e d e r a l r e s e r v e bo.uk 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 I S , 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 "banks, was $2,036,000,000, a d e c r e a s e of $59>000,000 compared - j i t h t h e p r e c e d i n g woek and an i n c r e a s e of $1,009,000,000 compared with t h e c o r r e s p o n d i n g week i n 1930. On November IS t o t a l r e s e r v e bank c r e d i t amounted t o $ 1 , 9 7 2 , 0 0 0 , 0 0 0 , a d ecre a s e of $92,000,000 f o r the week. This d e c r e a s e corresponds w i t h d e c r e a s e s of £?46,000,000 i n money i n c i r c u l a t i o n and $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 i n c r e a s e s of $24,000,000 in monetary g o l d s t o c k and $29,000,000 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 , o f f s e t i n p a r t by an i n c r e a s e of v2F,000,000 i n member bank r e s e r v e b a l a n c e s . Holdings of d i s c o u n t e d "bills 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 Boston, and d e c r e a s e d $8,000,000 a t Chicago, $7,000,000 a t C l e v e l a n d , $6,000,000 a t Hew York and $22,000,000 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 "bills bought in open market d e c l i n e d $63,000,000 and of T r e a s u r y n o t e s $3,000,000, while 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 $3,000,000. Changes i n the 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 during t h e week and t h e y e a r ending ITovember I S , 1931, were as 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 ilov. IS 1931 Ho v. 11 1931 Nov. 19 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 BAH 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 Honey i n c i r c u l a t i o n Eember 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 . 662 534 727 48 1,972 4,370 1,775 5,471 2,124 522 22 63 S + 457 + 356 +131 + 24 92 24 29 46 25 IS + 969 - 186 - s — — - + + + - + 989 -.325 + 110 Released, f o r p u b l i c a t i o n F r i d a y morning, Nov. 20,1931; not e a r l i e r . RESOURCES AND LIABILITIES R3S3HYE BAMS OF THE TWELVE 3EZERAL Br56Ha COMBINED ( i n thousands of d o l l a r s ) Nov. 18,1931 Nov. 11.1931 Nov.iq.1930 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 with U . S . T r e a s u r y . . 1,710,206 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 with F. R. Board . . Gold and gold c e r t i f i c a t e s h e l d by banks . T o t a l gold r e s e r v e s Reserves other t h a n g o l d 1,781,423 34Q, o01 743,752 2,874,776 l6s,o46 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 bought i n open market U. S. Government o 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 . . . . 70,517 1,635,206 70,337 1,706,143 396,579 723,825 1,589,056 35,082 1,624,13s 500,471 916,373 2,825,647 162,737 3,o4o,982 3,042,822 70,438 2,989,384 67,364 3,191,284 68,395 314,356 347,585 327,026 356,738 683,754 76,357 128,680 6o2,04l 534,017 316,505 23,96s 150,302 596,752 205,037 178,273 316,852 26,950 39,110 257,037 299,626 385,586 383,661 727,059 33,029 727 , 453 31,599 595,773 1,956,146 17,804 494,794 59,462 42,442 2,039,578 8,709 17,739 477,643 59, 4 l o 44,369 985,380 705 18,839 613,143 59,702 . . . . 5,592.,6I4 5,704,196 4,959,012 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 account Government F o r e i g n bank Other d e p o s i t s 2,433,392 2,449,959 1,383,604 2,123,875 2,098,533 2,448,746 23 , 571 137,415 27,523 133,008 52,208 37,137 5,433 22,879 Total deposits 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 -oaid in Sur plus All other l i a b i l i t i e s 2,312,484 488,ObO 164,074 274,636 19,958 2,333,349 461,933 164,441 274,636 19,878 2,514,195 595,772 170,455 276,93b 18,050 5,692,614 5,704,196 4,959,012 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 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 promises All o t h e r r e s o u r c e s TOTAL RESOURCES . . . . 8,706 6,297 21,564 L I A B I L I T I E S TOTAL LIABILITIES . . . . 49,600 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 . . . . 64.1^ 62.5% 81.9$ Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents 114,685 108,862 428,561 RESOURCES MD LIABILITIES OP THE FEDERAL RESERVE BAluCS Oil HOYE1BER I S , 1931 ( I n thousands of d o l l a r s ) B-5-64b T o t a l Boston New 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. D a l l a s San. Frar Gold with Federal r e s e r v e a g e n t s 1,710,806 101,62? 347,336 108,000 a 6 , 4 ? 0 55,170 59,150 44S,1>K) 43,635 43,835 36,680 26,000 134,763 7,550 2,800 4,362 9,67s 2,409 1,315 3,137 2 , 4 l 7 8,798 Gold redemption f u n d with U . S . T r e a s u r y 70,617 4,304 16,972 6,375 Gold h e l d e x c l u s i v e l y a g a i n s t F. b . n o t e s 1 , 7 8 1 , 4 2 3 106 , 431 364,308 204,375 224,020 57,970 63,512 457,818 l!o,044 45,150 39 , 817 28 , 417 143,561 Gold s e t t l e m e n t f u n d w i t h F.R.Board 349,601 7,765 122,377 18,775 4 ? , 3 0 4 11,063 8,364 26,433 15,990 9,412 21,468 l 6 , l 4 3 44,507 Gold and gold c e r t i f . h e l d by banks 743,752 32,4o8 515,070 34,139 21,575 6,264 9,494 63,993 13,203 6,543 11,119 3,827 26,117 R E S O U R C E S Total gold reserves R e s e r v e s o t h e r than gold Total reserves J o n - r e s e r v e 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 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 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 Due 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 p r e m i s e s All other resources TOTAL RESOURCES 2,874,776 l 4 6 , b 0 4 1,001,755 257,289 292,899 168,046 20,181 36,522 12,612 1 3 , 5 0 1 3 , 0 4 2 , 8 2 2 166,785 1,038,277 70,438 11,379 19,698 314,356 347,685 16,823 8,939 534,017 58,470 662,o4i 25,762 316,505 23,501 75,237 11,529 83,703 2,903 87,560 3,981 10,025 86,766 65,522 47,711 47,113 94,824 10,794 28,838 39,632 13,974 37,354 51,328 29,797 42,567 18,074 6o,64i 90,044 11,949 13,522 6,o4l 53,37-3 aSl 46,844 11,411 3,552 15,844 17,18? 100,483 bOO 3,085 31,084 630 27,984 6?9 18,959 254,253 81,489 1,243 2,379 57,122 3,06l 2,188 1,258 20,3^0 3,635 2,164 54,0?6 1? 638 9,957 1,926 1,580 85,431 253 623 25,775 3,S04 1,463 30b,700 3,469 4,56i 61,900 45,9a Si,97: 107,896 8,4o6 6,914 36,647 16,150 23,968 386,586 188 33,658 107,938 3,6l4 129,674 22,784 3,559 31,768 25,358 209 4?,384 ll,016 95 16,295 727,059 33,029 57,34? 24i,226 15,690 5S,ni 7,825 72,951 - 2?,4o6 1,910 1,956,146 143,439 511,034 3,162 ?, 0 o 4 138,375 15,240 15.186 180,?46 204,422 883 995 83,888 350 1,654 ?,982 5,936 3,?l6 384,380 1,748,036 504,251 8,?o6 1?,804 494,794 59,462 42,442 5,692,614 690 21? 57,291 3,458 1,071 911 469 44,054 2,6l4 2,037 61,105 81,370 548,244 6,190 30,667 269,901 47,623 109,523 144,595 75,297 ?00 46,565 36,009 2,678 578,144 214,901 2,456 8,690 98,912 315 879 13,37 7 2,572 3,594 578,911 3,059 4,4l7 1,551 72,4o4 7,476 48,387 214,185 7,171 9,074 79,880 1,787 55,558 223,259 2,702 5,223 913 7,970 4,649 49,185 7,256 24,126 16,933 35,932 25,471 8,169 32,096 a,582 85,117 24,304 17,244 34,376 17,521 57,955 8b i6,081 12,054 26 7,677 27 11,255 18,159 107 9,774 6,125 26,758 19,630 54,691 13,398 - 1,910 58,733 199,673 2o2 594 33 2 1,296 17,5-37 27,842 1,832 4,622 3,433 1,062 211,190 914,182 199,237 135,267 199,016 140,439 463,571 L I A B I L I T I E S RESOURCES AMD LIABILITIES OF THE FEDERAL RESERVE BAEKS OH NOVEMBER 18, ( I n thousands of d o l l a r s ) T o t a l Boston New York P h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s 2,433,392 146,293 P.P.,notes i n a c t u a l c i r c u l a t i o n Dujy ; I j 3: Meir.be r "bank - r e s e r v e account 2,123,875 134,552 23,571 2,082 Government 137,415 10,089 Foreign "bank 27,623 17 Other d e p o s i t s T o tal d e p o s i t s 2,312,484 146,740 488,060 57,822 Deferred a v a i l a b i l i t y items 164,074 11,756 C a p i t a l paid i n 274,636 21,299 Surplus 470 19,968 All other l i a b i l i t i e s 5,692,614 384,380 TOTAL LIABILITIES 64.1 56.9 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 114,685 8,522 121,095 491,763 55,908 51,395 284,056 657 1,990 2,4o4 5,381 4,242 18,160 113 879 339 62,285 58,340 305,499 34,410 13,437 56,275 484,523 271,374 311,761 99,639 91 2,593 1 30,190 1 53,550 6,829 2,266 1,023 47,155 13,317 13,586 10,886 294 7,331 977,463 146,067 175,490 135,328 42,469 44,500 64,093 16,716 15,188 80,575 27,065 28,971 6,054 560 2,234 1,74s,036 504,251 573,144 71.0 64.7 62.9 38,443 11,249 11,476 1931 B-5o4b Minn. Kans.Cy. Dallas San Fran. 64,452 Si,069 50,581 224,952 85,890 66,501 45,947 74,888 51,625 162,670 911 2,008 1,381 977 1,043 4,708 3,094 3,901 4,035 9,147 6,687 138 73 339 527 73,117 50,357 79,905 56,709 180,512 23,271 9,467 24,566 19,173 27,342 18,181 4,759 2,969 4,196 4,142 11,346 5,200 5,528 8,702 8,936 18,475 12,114 10,857 39,936 10,562 7,144 944 89s 578 1,638 2,261 2, 528 925 214,901 211,190 914,182 199,237 135,267 199,016 l40,439 463,571 51.7 48.8 72.6 54.6 57.1 49.6 51.8 55.1 4,545 4,091 15,339 3,977 2,613 3,295 3,409 7,726 FEDERAL RESERVE HOTS STATEISIIT Federal r e s e r v e n o t e s : Issued to F.R. "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 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 T o tal c o l l a t e r a l 2,760,692 173,898 540,625 305,044 341,701 108,177 137,584 573,273 90,457 67.295 92,422 62,217 267,999 327,300 27,605 56,102 33,670 29,940 8,538 16,489 81,510 4,567 2,843 11,353 ll,o36 43,o47 2,433,392 146 , 293 484,523 271,3 7 4 311,761 99,639 121,095 491,763 85,890 64,452 81,069 50,581 224,952 694,876 47,010 1,015,930 54,617 1,138,557 81,682 2,849,363 183,309 Total 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 662,04l 297,336 44,700 64,470 10,070 10,900 92,140 14,635 7,435 9,880 12,300 84,000 so,000 153,300 152,000 45,100 48,250 356,000 29,000 36,400 26,300 13,700 50,703 224,562 110,835 1 28,021 54,310 79,529 145,669 47,112 23,865 64,925 37,620 140,427 571,89s 308,835 344,491 109,480 138,679 593,809 90,747 67,700 101,605 63,020 275,190 Within 15 days 534,017 474,059 135,293 4,209 655 386,586 45,868 MATURITY DISTRIBUTION OF BILLS AND SHORT TERM SECURITIES 91 days to l 6 t o 30 days 31 to 60 days 6 l to 90 days 6 months 18,061 30,214 80,108 57,838 1,713 18,573 222,526 155.912 125,044 60, 286 16,653 73,221 27 63 3,194 270 Over 6 months 1,761 65,514
@FedFRASER