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STATEMENT FOR THE PRESS Released for publication Friday morning, Aug. lU; not e a r l i e r . Board of Governors of the Federal Reserve System August 13» 1936 CONDITION OF FEDERAL RESERVE BULKS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 12$ as reported "by the Federal Reserve banks, was $2,^76,000,000, an increase of $6,000,000 compared with the preceding weel? and the same amount as reported f o r the corresponding week in 1935* On August 12 t o t a l Reserve bank credit amotuited to $2,^77*000,000, an increase of $1^,000,000 for the week. This increase corresponds with increases of $111,000,000 in member bank reserve balances, $7,000,000 in money in c i r c u l a t i o n , and $17,000,000 in nonmember deposits and other Federal Reserve accounts, o f f s e t in part by increases of $11,000,000 in monetary gold stock and $2,000,000 in Treasury currency, and a decrease of $107,000,000 in Treasury cash and deposits with Federal Reserve banks. Member bank reserve balances on August 12 were estimated a t approximately $3,170,000,000 in excess of legal requirements. Owing to considerable repayments to the Treasury by the Reconstruction Finance Corporation and to the deposit of the proceeds of an issue of notes by the Commodity Credit Corporation, Treasury balances held on deposit with the Federal Reserve banks have not decreased as much in recent weeks as was expected on July lb when the Board announced the increase in reserve requirements. As a consequence the increase in member bank reserve balances has been temporarily smaller than was estimated a t the time. According tq present indications excess reserves of member banks a f t e r the increased requirements go into e f f e c t on August 15 w i l l be between $1,700,000,000, and $1,750,000,000 rather than $1,900,000,000 as was previously estimated. The System's holdings of b i l l s discounted increased $4,000,000 during the week. Relatively small changes were reported in holdings of purchased b i l l s , i n dustrial advances and United States Government s e c u r i t i e s . Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended August 12, were as follows: Increase or decrease since Aug. 12 Aug. 5 Aug. Ik W5 (I11 millions of d o l l a r s ) B i l l s discounted B i l l s bought U. S . Government s e c u r i t i e s Industrial advances (not including 23 million commitments - August 12) Other Reserve bank c r e d i t TOTAL RESERVE BAM CREDIT Monetary gold stock Treasury currency Money in c i r c u l a t i o n Member bank reserve balances Treasury cash and deposits with F.R. banks Nonmember deposits and other F*R„ accounts S , 3 29 7 2,^77 +2 -2 +10 +lk 10,661 2,49s +11 >2 +1,^77 6,170 6,116 +7 +111 +6i2 +So2 •-l6 '+82 2,759 592 -1O7 +17 +61 (B-gOl) Released for publication Friday morning, Aug. lH,1936; not e a r l i e r . B-SOla ASSETS AHD LIABILITIES OF THE TWELVE FEDERAL RESERVE BAUKS COMBINED (In thousands of dollars) Aug. 5,193.6 Aug. ll+,1935 8,225,038 13»720 289.980 8,528,738 8,211,01+6 13.720 288,635 8,513,1+01 6,365,767 21,527 236.987 6,621+, 281 5,552 2,311 7,863 3,09*+ 28,782 1»S56 2,10U 3,960 3>092 28,888 2,726 32^.721 lj%6,'719 6osi787 2,1+30,227 181 2,l+70,ll+7 219 23,3^+8 598,183 4-8,055 1+1+,152 32^,721 1,496,719 608,787 2,1+30,227 181 2,1+66,31+8 221 22,5^0 51+7,616 1+8,056 1+1+.190 290,213 1.597.723 ^2,209 2,1+30,205 11,712,81+2 11,61+2,372 9,739,787 F . R. notes in actual c i r c u l a t i o n . . . Deposits: Member bank - reserve account U.S.Treasurer - General account . . . . Foreign bank Other deposits 3,983,1+73 3,979,8ll+ 3,321,026 6,ll6,0Sl+ 338,062 86,1+38 250,309 6,00^,796 ^39,391 71,040 21+9,675 5,25!+, 282 33.79S 23,995 226,588 Total deposits Deferred a v a i l a b i l i t y items . . . . Capital paid in Surplus (Section 7) Surplus (Section 1 3 b ) Reserve for contingencies All other l i a b i l i t i e s 6,790,893 591,15!+ 130I177 1%,501 26,^13 ^l+'lUl 101990 6,76^,902 550,985 130,205 145,501 26,513 3^,105 10,31+7 5,532,663 52l+,5l+0 11+6,665 ll+l+,893 22,621 30,722 11,712,81+2 11,61+2,372 Aug. 12,1936 ASSETS Gold c e r t i f i c a t e s on hand and due from U. S. Treasury Redemption fund - F . R. notes . . . . . Other cash Total reserves . . B i l l s discounted: Secured by U.S.Gov't o b l i g a t i o n s , d i r e c t or f u l l y guaranteed Other "bills discounted Total b i l l s discounted B i l l s bought in open market . . . . . . Industrial advances . . . . U. S . Government s e c u r i t i e s : Bonds . . . . . . . * Treasury notes . . . . . . . . . ; . * Treasury b i l l s Total U.S. Government s e c u r i t i e s Other s e c u r i t i e s Total b i l l s and s e c u r i t i e s Due from foreign banks . . . . . . . . . F . R. notes of other banks Uncollected items Bank premises All other a s s e t s TOTAL ASSETS 3^27 6,153 l+,693 29,1^7 2,1+70,198 631 18,1+81+ 530,5H 1+9,965 ^717 L I A B I L I T I E S . . TOTAL LIABILITIES 9,739,727 Ratio of t o t a l reserves to deposit and F . R. note l i a b i l i t i e s combined . . . . Commitments to make industrial advances 10.597 79.2$ 79.2$ 23,391+ 23,1+53 7^.8$ 23,921 ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BAKES OH AUGUST 12, 1936 (In thousands of dollars) B-SOlb ASSETS Total Boston Hew York P h i l a . Cleve, Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold c e r t i f i c a t e s on hand and due fromU. S . Treasury 8,225,038 508,473 3,220,518 402,708 602,171 271,391 215,891 l , 6 l 4 , 3 2 6 219,887 181,798 255,243 157.122 575,510 Redemption fund - F . R. notes 13,720 2,011 1,753 916 483 676 2,990 57^ 853 204 932 375 1,953 Other cash 289,980 33,879 74,215 37,5^0 26,413 15,253 10,911 35,983 13,816 7,727 12,760 6,927 14,556 Total reserves 8,528,738 544,363 3,296,486 44-1,164 629,067 287,320 229,792 1,650,883 234,556 189,729 268,935 164,424 592,019 B i l l s discounted: Secured by U.S.Gov't obligations direct or f u l l y guaranteed Other b i l l s discounted 5,552 2,311 7,863 65 — 4,918 1,737 — 195 100 2 69 30 42 71 121 3,611 72 108 705 — 100 Total b i l l s discounted B i l l s bought in open market Industrial advances U. S . Government s e c u r i t i e s : Bonds Treasury notes Treasury b i l l s 3,094 28,782 65 225 3,096 324,7a 1,^96,719 602,727 21,607 99,596 40,510 Total U.S. Gov»t securities Other securities 2,1130,227 161,713 181 660,561 211,180 235,795 128,010 98,356 Total b i l l s and securities Due from foreign banks F . R. notes of other banks Uncollected items Bank premises A l l other assets 2,H70,l47 165,099 675,409 216,721 237,689 131,813 99,241 10 82 8 21 21 5,828 , , 763 1,19^ 1,600 1,685 141,562 44,288 57,219 >+9,739 22,429 10,854 5,080 6,525 2,919 2,284 3,452 1,671 1,135 1,^33 33,699 TOTAL ASSETS 219 23,34s 598,183 48,055 44,152 17 327 59,330 3,113 281 6,655 1,103 7,090 195 317 5,089 88,263 28,217 294 1,500 31,507 17,104 13,142 406,823 130,061145,220 78,839 165,475 52,902 59,068 32,067 m m • •• — 60,575 24,639, 25 — 22 — — 386 1,804 ^7 534 >»l 1 l64 , 30 59 382 —- 82 546 30 87 893 87 1,562 218 1,728 61 1,170 38,630 17,361 11,571 178,054 80,018 53,33^ 72,423 32,5^8 21,693 289,107 129,927 86,598 —_ 23 — —.- — 16,425 12,502 28,392 75,70s 57,628 130,263 30,79^ 23,440 53,228 122,927 93,570 212,483 181 — 291,297 130,595 87,829 124,170 95,765 214,459 26 6 6 4 3 15 "2,806 1,707 1,265 1,758 740 3,675 86,110 4,830 70s ^,870 2,453 248 is,74o 1,531 363 35,650 3,360 ^13 22,297 1,526 25s 35,949 3,580 491 11,712,842 772,530 4,163,920 711,5^9 933,386 474,536 356,872 £2,036,660 394,433 299,^60 :434,292 285,016 250,188 ASSETS AND LIABILITIES OP THE FEDERAL RESERVE BANKS ON AUGUST 12, 1936 (In thousands of dollars) B—SOlc L I A B I L I T I E S Total Boston New Yorlc P h i l a . F»R.notes in actual circulation 3,923,1+73 356,191 S15,l66 Deposits: Member "bank - reserve account S,ll6,0gH 305,^30 2,762,^99 U.S.Treasurer - General account 338,062 17,712 99,% Foreign "bank 66,1*38 31.537 6,392 Other deposits 196,188 2^09 3 , ^ Total deposits 6,790,893 332,950 3,089,719 591,15^ 59,702 Deferred a v a i l a b i l i t y items 13^,836 130,177 9,407 Capital paid in 50,19^ 145,501 9,902 Surplus (Section 7) 50,825 Surplus (Section 13 b) 26,513 2,87^ 7,7^4 Reserve for contingencies 3H,i4I 8,849 1,1*13 All other l i a b i l i t i e s 10,990 91 6,527 TOTAL LIABILITIES Commitments to make industrial advances Cleve. Rich. Atlanta 295,659 3 9 3 , ^ 182,31b 17^,831 315,689 14,162 2,034 1,72** 2^,390 7,9^7 339,615 451,648 43,066 56,974 12,222 12,567 13,406 4,231 202,063 124,240 19.275 17,770 3,023 3,SOI 2,068 ?|01Q 228,149 147,101 48 f 66s 21,5 72 ^,253 ^,723 1^,371 5,186 3,111 29H 1,281 3,000 350 1,007 3,41^ 167 5,616 75^ 2,555 190 Chicago St .Louis Minn. Kans.Cy.Dallas San Fran. 91^,255 170,139 12^,522 152,883 8^,878 312,621 93^,730 ,73C 159,085 123,770 209,838 136,932 427,664 45,749 , 7 % IS,37s 16,9^9 24,185 23,253 16,188 2,592 2,073 2,502 2,505 5,961 7,632 4,007 271 23,03s 992,715 187,-687 1 ^ , 7 9 9 236,796 154,863 472,851 86,072 26,463 is,90s 3^,939 24,263 35,691 10,021 2,215 12,130 21,350 1,391 7,573 1,174 3,762 h '% 894 287 2,968 3,149 1,003 1,449 662 3,9^0 3,613 1,142 239 140 3,216 3,723 1,252 1,32s 833 10,195 9,645 1,121 1,249 215 11,712,842 772,530 4,163,920 711,549 933,386 474,536 356,872 2,036,660 39M33 299,460 434,292 285,016 850,12s 23,39^ 2,76s 9,0^7 304 1,427 2,319 233 77 1,7^ 90 394 536 4,4o4 MATURITY DISTRIBUTION OF BILLS &M> SECURITIES To t a l B i l l s discounted B i l l s bought Industrial advances U. S. Government s e c u r i t i e s Other securities 7,S6; 3,09 28,782 2,^30,227 181 Within 15 days 6,097 76S 1,395 31,956 l 6 to 30 days 233 294 37,930 31 to 60 days 273 236 67H 130,275 6l to 90 days 205 1,257 S76 25,659 91 days to 6 months 654 1,731 302,345 Over 6 months 23,812 1,242,062 181 FEDERAL RESERVE 1T0TE STATEMENT ON AUGUST 12, 1936 ( I n thousands of d o l l a r s ) Total Federal Reserve notes: Issued to F.R.bank by F.R.Agent Held by Federal Reserve bank In actual c i r c u l a t i o n Boston Hew York Phila. Cleve. Rich, Atlanta Chicago St.Louis B-SOld Minn. Kans.Cy. Dallas San Fran. 4,292,933 378,59^ 399.^65 22,403 917.310 312,732 102,144 17,073 ^77 195»751 195.735 20,063 12,337 20,904 950,660 179,003 123,925 166,260 36,405 4,'403 13,377 95?30^ 359,137 10,42b 40,566 3>933.473 356,191 315,166 295,659 3 9 3 , 4 l 4 132,91^ 174,331 914,255 170,139 124,522 152,SC3 34,373 313,621 4,299,333 396,000 6,507 65 73,000 935,705 314,000 4i4,ooo 197,000 161,000 966,000 155,632 130,000 165,000 47 — 73 5.356 195 100 71 72 — 45,000 25,000 — 3,000 96,000 369,000 493 30 4,373,345 396,065 941,062 3 1 M 9 5 4}.4,ioo 197,071 206,072 96,493 369,030 C o l l a t e r a l held by agent as s e curity f o r notes issued to bank: Gold c e r t i f i c a t e s on hand and due from U. S . Treasury E l i g i b l e paper U. S . Gov't s e c u r i t i e s Total c o l l a t e r a l 966,000 130,679 130,000 163,073
@FedFRASER