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Form No. 131 Office Correspondence Wo FEDERAL RESERVE BOARD Federal Reserve Board Date April 8, 1933 Subject: Mr. Smead Attached i s a statement showing the amount of borrowings from the Federal reserve banks, a s of March 31, of member banks not licensed to reopen by the Secretary of the Treasury but which as of t h a t date had not been placed i n process of l i q u i d a t i o n . I t w i l l be noted from t h i s statement t h a t 892 of such banks were indebted to the Federal reserve banks i n an aggregate amount of $124,752,000 of which $48,264,000 was on rediscounted e l i g i b l e paper, $67,828,000 on advances under Section 13 of the Act and $8,659,000 on advances under Section 10-b. As of March 2g, the l a s t date f o r which figures are a v a i l a b l e , the Federal reserve banks also reported $27,738,000 of claims against closed banks. The amount of such claims reported by each Federal reserve bank was a s follows: Boston Hew York Philadelphia Cleveland Richmond Atlanta $462,000 3,917,000 4,243,000 269,000 6,710,000 4,987,000 Chicago St. Louis Minneapolis Kansas City Dallas San Francisco $887,000 894,000 1,777,000 l,060,000 855,000 l,677,000 BORROWINGS FROM FEDERAL RESERVE BANK OF MEMBER BANKS NOT LICENSED TO OPEN BY THE SECRETARY OF THE TREASURY, BUT WEIGH HAVE NOT BEEN PLACED IN LIQUIDATION. (Figures as of March 31, 1933) Indebtedness to Federal Reserve Bank Rediscounted Advances Total eligible under paper Section 13 Federal Reserve Bank Number of banks Boston New York Philadelphia 38 119 87 $7,701,893.06 21,898,781.13 24,231,022.16 13,759,343.58 519,367.91 5,334,052.45 $3,160,549.48 17,565,507.40 18,651,812.33 $782,000.00 3,813,905.82 245,157.38 Cleveland Richmond Atlanta 103 83 41 20,542,273.93 15,228,930.91 7,923,424.36 8,595,441.50 9,923,367.13 4,972,472.89 11,946,832.43 5,305,563.78 1,892,772.96 1,058,178.51 Chicago St. Louis Minneapolis 201 37 50 11,046,650.80 1,669,720.62 2,977,699.62 10,135,758.64 10,759.82 1,541,582.01 — 1,658,960.80 1,1+36,117.61 910,892.16 69 27 7,191,986.1+9 588,129.76 3,751.078.73 2,554,183.12 442,600.01 475,221.59 3,854,683.37 145,529.75 2,209,710.42 783,120.00 1,066,146.72 124,751,591.57 48,264,150.65 67,828,040.33 8,659,400.59 Kansas City [D]allas [S]an Francisco 37 Total 892 DIVISION OF BANK OPERATIONS, APRIL 8, 1933. Advances under Section 10-b