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STATEIE^ FOR TEE 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 , S e p t . 9; not e a r l i e r . B-801 F e d e r a l R e s e r v e Board. September o, 1932. COITDITIO^ 0 ? FEDERAL RESERVE BATES Tne 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 e n d i n g September J , 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 $ 2 , 3 3 0 , 0 0 0 , 0 0 0 , a d e c r e a s e of $ 1 , 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 an i n c r e a s e of $ 1 , 0 9 2 , 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 of 1931* On September 7 t o t a l r e s e r v e b a n k c r e d i t amounted to $ 2 , 3 1 9 , 0 0 0 , 0 0 0 , a d e c r e a s e of $ 1 2 , 0 0 0 , 0 0 0 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 $ 4 , 0 0 0 , 0 0 0 each i n member b a n k r e s e r v e b a l a n c e s and 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 $ 1 9 , 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 and $ 1 8 , 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 , o f f s e t i n p a r t by an i n c r e a s e of ^ 3 4 , 0 0 0 , 0 0 0 i n money in c i r c u l a t i o n . 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 r e a s e d $ 4 , 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 P h i l a d e l p h i a , $ 2 , 0 0 0 , 0 0 0 each a t Richmond and A t l a n t a and $ 1 3 , 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 1 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 were p r a c t i c a l l y u n c h a n g e d , w h i l e 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 $ 4 , 0 0 0 , 0 0 0 and 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 d e c l i n e d $ 5 , 0 0 0 , 0 0 0 . Changes i n t n 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 n e week and trie y e a r e n d i n g September 7> --932, 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 1932 1—1 1932 f Sept. 7 Sept. 9 1931 ( i n m i l l i o n s of do l i a r s ) 420 34 1,551 14 - 13 4- - 1 2 + 160 - 154 +1,123 16 TOTAL RESERVE BAEZ CREDIT Monetary g o l d s t o c k Treasury currency a d j u s t e d 2,319 4,105 1,819 - 12 + 19 + is +1,103 - 895 + 57 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 . 5,725 2,142 377 + 34 - 4 - 4 + 633 - i4s - 220 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 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 n o r n i n g , Septeriber 9 , 1 9 3 2 ; n o t e a r l i e r . B-SOla RESOURCES ATT ' D LIABILITIES OF THE TT3L7S FEDERAL RESERVE BAFXS C01BIE3D ( I n t h o u s a n d s of d o l l a r s ) S e n t . 7,1932 Aug. 31,1932 S e p t . 9 , 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 x o n i 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 . 2,088,557 57,078 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 f o l d c e r t i f i c a t e s held, "by banks 2,145,635 262,556 386,382 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 2,794,573 Total reserves . . . . Yon-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 2,991,001 196,42s 2,081,761 57,668 2,190,648 29,731 2,139,429 273,486 360,046 2,220,379 419,228 330,439 2,772,961 206,702 3,470,046 74,4i4 2,979,663 75,H9 152,137 157,545 268,291 158,717 3,628,763 67,891 275,211 432,756 113,123 147,109 260,232 Total b i l l s discounted . . . 420,428 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 33,585 34,098 197,788 420,772 399,799 420,988 395,974 1,034,753 1,851,715 5,915 2,324,484 292,027 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 b a n k s Uncollected items , Bank p r e m i s e s All other resources , 1,030,352 1,850,923 5,714 2,310,650 2,659 13,305 330,425 58,121 48,055 2,668 15,082 312,272 58,121 47,613 18,962 417,076 728,065 6,267 1,192,352 10,746 14,794 440,305 59,109 35,104 5,828,630 5,815,022 5,449,064 2,831,749 2,814,020 2,010,322 2,141,655 47,295 11,079 20,127 2,146,183 59,429 14,187 21,485 2,241,284 308,796 2,289,756 30,575 207,415 25,984 5,815,022 5,449,064 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 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 TOTAL LIABILITIES 2,220,156 324,495 153,094 259,421 39,715 5,322,630 153,099 259,421 38,402 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 . . . 5 9 . 2fo 58.9# 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 44,973 49,043 2,553,730 427,036 167,063 274,636 16,277 79.5ft 231,260 RESOURCES AH) LIABILITIES OF THE FEDERAL RESERVE SA11KS OF SEPTE#ER 7, 1932 ( i n t h o u s a n d s of d o l l a r s ) B-801Td T o t a l Boston >Tew 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,OSo,557 170,627 4 9 7 , 5 9 2 150,000 186,970 70,oOO 57,500 627,845 64,510 39,#35 58,680 26,835 137,263 Gold redenrption f u n d w i t h U . S . T r e a s u r y 57,078 3,056 12,106 6,g4S_ 6 , 6 5 7 ' 2,428 3,604 8,464 2,0l4 2,268 2,647 1,163 6,993 G-old h e l d e x c l u s i v e l y a g a i n s t R. n o t e s 2,145,635 173,713 509,698 156,2%3 193,027 73,028 61,io4 636,309 66,824 4 2 , 1 0 3 61,327 27,995 144,256 Gold s e t t l e m e n t f u n d w i t h F . R . B o a r d 262,556 15,566 54,684 8,366 25,561 9 , 2 5 4 6 , 7 8 2 70,108 7,946 11,072 15,295 9 , 3 1 0 28,612 Gold and g o l d c e r t i f . h e l d by b a n k s 386,382 1 5 , 9 5 2 6,671 18,4o4 7,%97 8 , 6 4 6 27,210 5 , 8 6 i 3,366 10,557 3,990 2 3 , 4 4 3 254,755 Total gold reserves 2,79%,573 205,231 819,137 171,285 236,992 89,779 76,532 733,627 80,631 5 6 , 5 4 1 87,209 41,29s 196,311 Reserves other than gold 196,428 IS.1%0 5 4 , 5 7 3 33,252 18,546 8,515 %,972 26,057 8 , 4 4 7 2,990 4 , 5 5 5 6,805 9 , 5 7 6 Total reserves 2,991,001 223,371 873,710 204,537 255,538 9 3 , 2 9 4 81,50% 759,68% 89,07s 5 9 , 5 3 1 91,764 4 3 , 1 0 3 205,887 F a n - r e s e r v e cash 7%,%l% 20,827 4,695 3 , 5 3 1 3 , 3 2 8 5,582 12,992 3,637 2,060 2,568 3 , l 4 l 7,258 %,795 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 1,102 1,435 1,546 28,729 6,916 152,137 4,o64 4,145 5,564 9,850 5 5 , 0 3 4 19,012 i 4 , 4 i i o Other b i l l s d i s c o u n t e d 268,291 9 , 2 7 3 35,499 40,373 19,361 20,367 27,117 20,582 5,507 12,069 18,092 13,039 4 7 , 0 0 7 Total b i l l s discounted 420,428 16,139 9 0 , 5 3 3 59,390 3 3 , s o i 24,431 3 1 , 2 6 2 30,432 11,071 13,171 19.527 14,855 75,736 B i l l s b o u g h t i n open market 867 2,657 894 634 2,352 10,597 33,525 3,265 3 , 1 1 4 2 , 3 8 5 1,210 4,298 1,009 U. S. Government s e c u r i t i e s : "Bonds %20,772 20,350 190,274 31,230 36,491 9 , 6 4 9 9,577 40,775 13,940 17,202 11,776 14,2%1 25,267 Treasury notes 4,947 29,467 153,040 32,445 42,559 11,251 11,116 51,451 15,673 11,243 13,650 399,799 22,957 C e r t i f i c a t e s and b i l l s 1 , 0 3 0 , 3 5 2 77,921 367,978 75,650 99,232 26,233 25,921 182,584 3 6 , 5 4 3 26,206 3 1 , 3 4 1 11,533 65,710 R E S O U R C E 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 1 , 5 5 0 , 9 2 3 121,228 5,71% 711,292 T o t a l b i l l s and s e c u r i t i e s 2,310,650 139,769 212 2,659 816,942 203,321 288 945 Due from f o r e i g n banks 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 - 13,305 330,425 58,121 4b,055 223 36,351 3,336 1,%15 5,828,630 409,972 139,325 178,222 4,220 1,3%l - 4,73% 8%,390 1%,S17 29,16s 1,845,533 31S 27,076 2,901 7%0 215,197 269 b29 30,275 7,968 1,212 47,133 - 73,952 107 850 27,470 3,617 3,260 443,876 514,619 210,908 4 6 , 6 l 4 274,310 66,156 153 —* 79,086 309,540 99 591 9,910 2,439 3,679 54,651 374 1,439 40,485 7,828 2,430 183,2401^34,775 75,236 18 S60 16,002 3,461 1,118 60,609 11 294 8,5-29 1,535 1,592 57,267 3 0 , 7 2 1 123,444 - - 77,658 77 1,113 20', 315 3,649 862 - 4 6 , 4 7 3 201,837 184 75 1 , 6 58 236 12,564 16,552 4,433 1,757 1,284 1,295 192,410 142,461 198,039 113,67% 439,123 B I L I T I E S RESOURCES A2H) LIABILITIES OF THE FEDERAL RESERVE BAKKS OIT SEPTEMBER 7, 1932 ( I n t h o u s a n d s of d o l l a r s ) B-SOlc T o t a l Boston Few York p h i l a . 01eve. R i c h . A t l a n t a Chicago S t . L o u i s Minn. Xans.Cy. D a l l a s San F r a n . 2,331,7U9 203,224 6 0 0 , 2 6 2 251,940 289,958 1 0 6 , 7 4 5 103,126 710,134 101,337 8 1 , 5 6 5 95,33s 3 3 , 4 s 4 244,536 F.R.notes in actual c i r c u l a t i o n Deposits: Member b a n k - r e s e r v e a c c o u n t 2 , l 4 l , 6 5 5 134,267 Government 47,295 3,013 F o r e i g n bank 11,0/9 905 Other d e p o s i t s 20,127 56 Total deposits 2,220,156 138,241 D e f e r r e d a v a i l a b i l i t y items 324,495 36,495 Capital paid in 153,094 10,376 Surplus 259,421 20,039 All other l i a b i l i t i e s 39,715 1,097 TOTAL LIABILITIES 5 , 8 2 8 ,630 409,972 Reserve r a t i o n (per cent) 59.2 65.4 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 p u r chased f o r f o r e i g n correspondents 44,973 3,417 9 9 4 , 9 3 7 1 1 6 , 2 9 1 142,746 11,607 3 , 8 7 8 3,472 1,226 1,202 7,603 87 2,045 1,017,253 121,482 149,465 81,966 25,434 30,059 5 9 , 0 3 2 16,098 1 4 , 2 2 1 75,077 26,486 27,640 11,943 2,436 3,276 1,845,533 443,876 514,619 54.0 54.S 5S.2 Federal reserve notes: I s s u e d t o F.R.Bank b y F,?..Agent 3 > 0 5 5 , l 6 l 223,137 Held b y F e d e r a l r e s e r v e b a n k 223,412 19,913 In actual c i r c u l a t i o n 2 , 3 3 1 , 7 ^ 9 203,224 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 b a n k Gold and g o l d c e r t i f i c a t e s 1,071,042 47,010 Gold f u n d - F . H. Board 1,017,515 123,617 E l i g i b l e paper 403,407 16,146 U.S. Gov't s e c u r i t i e s 539,300 36,600 Total c o l l a t e r a l 3,056 3,031,764 223,373 14,671 4,631 51,219 3,397 476 3,729 2,827 44i 3&4 6,635 1,595 358 55,352 2,099 417 942 58,810 38,816 67,354 44,352 138,861 2,222 2,762 3,823 1,560 262 247 46,787 322,343 41,547 26,931 10,138 39,049 16,424 8,345 5,172 4 , 8 5 1 1 6 , 9 5 3 4 , 4 5 8 2 , 9 1 7 11,483 10,449 33,411 10,025 6,356 1.756 2,339 7,330 1,306 J j J i l 210,903 1 3 3 , 2 4 0 ^ 3 4 , 7 7 5 192,4l0 142,46l 59.4 52.6 73.5 55.6 48.4 53,821 4,541 FEDERAL RESERVE 4 3 , 1 5 5 314,255 1,798 1,663 6,024 1,574 345 80 333 100 821 4,516 70,541 48,608 145,758 19,156 12,812 17,636 4,066 3,124 814 3,911 7,624 2,235 10,534 17,707 2,952 1,304 1,259 3,102 193,039 113,674 439,123 55.3 55.2 52.S 989 1>T 0TE STATE!EFT 670,483 262,609.302,902 112,99s 126,469 742,543 109,633 84,343 104,67s 43,491 271,870 70,221 10,669 12,944 6,253 18,343 32,359 8 , 2 4 6 2,783 9,340 27,334 600,262 251,940 239,958 106,745 103,126 710,184 101,337 31,565 95,333 38,484 244,536 450,592 79,320 7 1 , 9 7 0 12,920 13,500 47,000 70,630 115,000 57,680 44,000 8 7 , 9 3 9 58,717 3 3 . 4 1 3 25,582 29,863 92,000 55,000 85,000 13,000 4l,000 677,531 263,717 305,333 114,182 128,363 254,345 21,110 373,000 43,700 30,136 10,577 92,000 34,300 750,031 109,637 12,635 9,880 12,260 35,000 27,200 46,300 14,575 52,263 12,165 19,451 14,327 64,541 32,900 27,000 2,000 74,000 8 4 , 9 0 0 105,131 43,662 275,804 MATURITY DISTRIBUTION OF BILLS AH) SHORT TERM SECURITIES 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 Hunicitial warrants Total W i t h i n 15 days l 6 t o 30 days 31 t o 60 days 420,428 33,585 1,030,352 5,714 299,302 2,681 144,340 4,238 34,793 47,290 983 4,237 58,050 1,25s 236,789 25 6 l to 90 days 29,799 25,684 149,350 91 days t o 6 months 8,697 13,775 193 Over 6 months 547 427,543
@FedFRASER