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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, April 8j not earlier. Board of Governors of the Federal Reserve System April 7, 1938. CONDITION OF FEDERAL RESERVE BANKS During the week ended April 6 member bank reserve balances decreased $16,000,000. Reductions in member bank reserves arose from increases of 165,000,000 in money in circulation, $3 ,000,000 in Treasury cash and $15,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by in creases of $9,000,000 in Reserve bank credit, $9,000,000 in gold stock and $2,000,000 in Treasury currency and a decrease of $48,000,000 in Treasury deposits with Federal Reserve banks. Excess reserves of member banks on April 6 were estimated to be approximately $1 ,580,000,000, an increase of $20,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $1,183,000,000 on April 6 , unchanged for the week. Principal changes in holdings of bills and securities were an increase of $46,000,000 in United States Treasury bonds and a decrease of $46,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended April 6 , 1938, were as follows* Increase or decrease since Apr, 6 1938 Mar, 30 1938 Apr. 7 1937 (in millions of dollars) Bills discounted 11 Bills bought 1 U. S. Government securities 2,564 Industrial advances (not including 13 million commitments - April 6 ) 17 Other Reserve bank credit 3 Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F, R, accounts -1 *—• +3 -2 +105 — +10 -6 +3 2,596 12,803 2,682 +9 +9 +2 +103 +1,211 +143 7,296 6,394 3,554 244 593 -16 +65 +3 -48 +15 +612 +7 +780 -31 +88 — Form FR~263~a Released for publication Friday morning, April 8,1938; not earlier, ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS 00MBISED (in thousands of dollars) Apr, 6. 1938 Mar. 30. 1938 Apr. 7. 1937 9,222,003 9,1*0 444.855 9,675,998 9,2.12,708 9,874 _473.,506 9,696,088 8,843,905 11,149 273,758 9,128,812 7,741 3,599 11,340 550 16,952 8,174 12,040 550 17,177 6,650 1.500 8,150 3,436 22,566 779,539 1,165,691 618.785 2,564,015 733,320 1,165,691 665.004 2,564,015 662,084 1,190,343 606.619 2,459,046 2,592,857 2,593,782 2,493,198 170 ASSETS Gold certificates on hand and due from U. S. Treasury . • . Redemption fund - F. R. notes Other cash Total reserves Bills discounted* Secured by U.S.Gov’t obligations, direct or fully guaranteed . Other bills discounted . . . Total bills discounted Bills bought in open market Industrial advances . . . . U. S. Government securities* Bonds , o . « t # Treasury notes • • Treasury bills « • Total U,S. Government securities Total bills and securities Due from foreign banks . . F. R. notes of other banks Uncollected items , • • . Bank premises All other assets ...... TOTAL ASSETS . . . . . . 3.866 169 19,683 520,270 44,795 45.831 502,834 44,837 42.940 227 21,008 600,029 45,870 44,129 12,899,603 12,900,789 12,333,273 4,158,154 4,121,705 4,178,661 7,296,340 244,166 122,005 212.038 7,874,549 517,044 133?2.98 147,739 27,683 32,950 8.186 7,311,529 292,237 117,228 198.121 7,919,115 510,023 133,302 147,739 27,683 32,950 8.272 12,900,789 6,683,964 274,867 93,463 153.102 7,205,396 600,749 132,176 145,854 27,490 36,177 6.770 20,138 LIABILITIES F. R. notes in actual circulation Deposits* Member bank — reserve account . U,S.Treasurer — General account Foreign bank Other deposits ........ Total deposits Deferred availability items Capital paid in • * . . . . Surplus (Section 7) . . . . Surplus (Section 13 b) , . . Reserve for contingencies , All other liabilities • . . TOTAL LIABILITIES . 12,899,603 Ratio of total reserves to deposit and F. R. note liabilities combined Contingent liability on bills pur chased for foreign correspondents 80.4$ 330 82 Commitments to make industrial advances 12,920 13,110 80.5$ 12,333,273 80,2$ 19,370 Form FR*®283—b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 6, 1938 (In thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U.S. Treasury 9,222,003 503,917 3,900,810 487,890 Redemption fund - F. R, notes 9,140 412 822 1,417 Other cash 444,855 46,904 107,493 30,094 Total reserves 9,675,998 551,233 4,009,720 518,806 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 7,741 Other bills discounted 3,599 Total bills discounted Bills bought in open market Industrial advances TJ«S. Government securities: Bonds Treasury notes Treasury bills 11,340 550 16,952 Gleve. Rich. Atlanta Chicago Sit.Louis Minn. Kans*Cy. Dallas San Fran. 646,410 273,277 224,328 1,648,047 258,956 170,878 254,855 167,881 684,754 438 914 368 554 1,152 504 1,449 505 605 43,426 27,798 16,767 69,435 14,195 9,139 28,628 12,965 38,011 690,340 301,629 242,247 1,717,987 273,756 3.80,931 283,851 181,284 724,214 622 l4o 2,482 452 1,743 730 742 225 493 239 417 808 550 27 111 40 -50 359 347 37 272 185 2.69 762 4l 2,607 2,934 215 4,306 2,473 56 3,227 967 51 850 732 24 1,743 1,225 19 121 577 68 682 151 3 160 50 2 547 706 16 461 309 16 911 454 39 1,337 66,477 99,408 52,769 779,539 56,234 1,165,691 84,091 618,785 44,637 226,763 64,007 339,091 95,713 180,001 50,808 74,754 42,558 33,874 111,785 63,639 50,654 59,338 33»782 26,888 84,289 36,246 26,869 37,891 29,577 126,043 54,202 40,178 56,659 44,228 66,907 28,772 21,328 30,077 23,478 Total U.S. Gov’t securities 2,564,015 184,962 745,855 210,528 245,877 139,979 111,416 277,239 119,220 88,375 124,627 97,283 218,654 753,310 216,284 65 17 760 2,855 127,366 41,019 9,923 4,794 13,564 4,345 247,745 142,478 112,781 6 7 15 955 1,487 1,917 51,079 42,639 20,981 6,177 2,680 2,108 4,978 2,811 1,949 278,566 119,534 88,974 125,810 98,519 220,484 12 2 2 21 5 5 2,616 966 1,685 3,264 2,159 529 71,514 23,859 13,589 27,204 21,396 28,025 3,320 4,558 2,329 1,495 3,136 1,288 4,221 1,882 1,637 1,980 1,647 3,993 Total bills and securities Due from foreign banks Fa R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 2,592,857 188,372 12 169 490 19,683 520,270 51,599 44,795 2,987 45,831 2,824 12,899,603 797,517 4,916,803 786.025 1,001,289 493,731 381,989 2,080,131 423,521 287,594 443,671 304,668 982,664 Fbrm FR-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 6 , 1938 (In thousands of dollars) LIABILITIES Boston New York Phila. 309,769 917,692 310,136 Depositsi Member bank - resérve account 7,296,340 393,986 3,358,788 385,203 U.S.Treasurer — General account 244,166 3,739 186,975 4,389 Foreign bank 44,421 11,862 122,005 8,715 Other deposits 212,038 l,4l6 163,780 5,165 Total deposits 7,874,549 411,605 3,753,964 402,870 517,044 51,900 124,177 39,982 Deferred availability items 133,298 9,405 Capital paid in 50,945 12,278 Surplus (Section 7) 147,739 9,900 51,943 13,466 7,744 4,4n Surplus (Section 13 b) 27,683 2,874 32,950 1,448 Reserve for contingencies 8,210 2,000 8,186 616 All other liabilities 2,128 882 TOTAL LIABILITIES Cleve. Rich* Atlanta Chicago St.Louis Minn# Kans.Cy* Dallas San Fran. 412,403 94,599 150,463 966,999 178,380 137,733 166,449 79,878 333,653 481,179 30,054 190,246 6,697 2,998 1,302 11,135 5,205 4,236 7,183 4,201 2,357 967,952 195,267 118,587 232,313 179,473 563,292 14,771 3,307 2,970 1,520 5,443 10,055 l4,403 3,631 2,784 3,510 3,510 8,593 1,227 7,196 3,247 222 2,517 13,527 506,194 242,458 198,l4l 50,279 41,601 20,419 13,1*9 4,949 4,451 14,323 4,964 5,626 730 1,007 3,*09 3,177 1,401 1^03 556 757 350 998,353 209,401 127,588 237,565 190,943 595,467 69,677 25,135 12,753 29,479 22,731 28,911 13,095 3,897 2,902 4,l46 3,934 10,147 22,387 4,667 3,153 3,613 3,892 9,805 1,429 545 1,001 1,1-42 1,270 2,121 7,257 1,215 1,929 934 1,776 2,000 934 244 560 281 535 3*3 12,899,603 797,517 4,916,303 786,025 1,001,289 493,731 381,989 2,080,131 423,521 287,594 443,671 304,668 982,664 Contingent liability on bills purchased 330 for foreign correspondents Commitments to make industrial 12,920 advances 24 118 32 30 l4 12 1,475 4,186 121 1,,507 1,541 179 39 -- 10 8 10 10 23 489 4l 300 268 2,813 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days 16 to 30 days 31 to 60 days 11,340 550 16,952 2,564,015 9,703 -1,563 63,623 365 297 192 72,939 507 253 502 192,321 61 to 90 days 91 days to 6 months 6 months to 1 Year 309 429 mm mm 552 287,451 - — 1,776 181,156 « . 1 Year to 2 Years 27 mm - -------------- 3,255 123,851 mm 6,790 349,714 2 Years to 5 Years M mm mm mm 2,322 574,647 Over 5 Years ----- 718,313 Forra FR-283-d FEDERAL RESERVE NOTE STATEMENT ON APRIL 6 , 1938 (in thousands of dollars) Total Boston New York Phila, Federal Reserve notes» Issued to F.R.bank by F.R0agent 4,453,791 335,932 1,016,863 330,842 Held by Federal Raserve bank 295.637 26,163 99,171 20,706 In actual circulation 4,158,154 309,769 917,692 310,136 Cleve. Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas San Fran. 436,022 204,101 166,797 990,904 190,339 l4l,8l3 176,028 89,894 374,256 23,619 9,502 16,334 23,905 11,959 4,080 9,579 10,016 40,603 412,403 194,599 150,463 966,999 178,380 137,733 166,449 79,878 333,653 Collateral held by agent as secu rity for notes issued to banks Gold certificates on hand and due from U. S. Treasury 4,489,632 341,000 1,015,000 337,000 44l,000 205,000 159,000 1,000,000 191,632 127,500 177,000 91,500 404,000 Eligible paper 10,223 702 2,877 2,035 768 672 1,000 572 111 50 694 295 447 U. S. Gov’t securities 25,000 -----10,000 --15,000 ---Total collateral 4,524,855 341,702 1,017,877 339,035 44l,768 205,672 170,000 1,000,572 191,743 142,550 177,694 91,795 404,447
@FedFRASER