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Form FR-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Aug. 19j not earlier, Board of Governors of the Federal Reserve System August 18, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended August 17 member bank reserve balances increased $39,000,000, Additions to member bank reserves arose from decreases of $37,000,000 in Treasury deposits with Federal Reserve banks and $16 ,000,000 in nonmember deposits and otha-Federal Reserve accounts and increases of $19,000,000 in gold stock and $5,000,000 in Reserve bank credit, offset in part by increases of $19,000,000 in money in circulation and $19,000,000 in Treasury cash. Excess reserves of member banks on August 17 were estimated to be approximately $2,930,000,000, an increase of $10,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 17, 1938, were as follows» Increase or decrease since Aug. 17 1938 Aug. 10 .1918 Aug, 18 ...1917.. (In millions of dollars) Bills discounted Bills bought U, S. Government securities Industrial advances (not including 1-4 million commitments - August 17) Other Reserve bank credit 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 --- -11 -2 +38 16 * — w* +5 -5 +3 2,587 13,052 2,724 +5 +19 +1 +22 +525 +147 8,085 6,485 2,386 802 605 +39 +19 +19 ~37 -16 +1,3-41 - 15 -1,286 +646 +7 7 1 2,564 *Less than $500,000, Form FB—283—a Released for publication Friday morning, August 19,1938; not earlier# ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Aug. 17.1938 Aug. 10,1938 Aag« 18.1937 10,632,407 10,632,907 8,680 *394.085 *11,035,672 8,831,946 13,755 4.533 18,288 540 15,816 3,775 3,099 6,874 540 15,965 744,105 1,196,188 623.,722 2,564,015 744,105 1,196,188 623,722 2,564,015 732,508 1,157,713 635,969 2,526,190 2,587,003 180 23,032 589,565 44,486 51,280 2,587,394 180 23,587 507,628 44,486 *50,674 2,568,558 227 25,444 643,160 45,501 43,966 14,327,663 14,249,621 12,471,975 4,150,214 4,135,656 4,238,391 8,085,198 802,104 115,867 _222il98 9,236,367 589,541 133,953 147,739 27,683 32,774 9.392 8,045,525 838,820 117,267 247.425 9,249,037 513,223 133,829 147,739 27,683 32,809 9.645 6,743,874 155,689 199,602 140.513 7,239,678 646,593 132,533 145*854 27,490 35,838 5.598 14,327,663 14,249,621 12,471,975 ASSETS Qold 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 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 . . . . . *** «•» ••• I I I • « • TOTAL ASSETS . . . . . 9,112 390.598 11,032,117 3,724 2,908 6,632 10,122 303,051 9,145,119 3,073 21,007 LIABILITIES F. R. notes in actual circulation Deposits* Member bank — reserve account , • • U. S. Treasurer - General account • t Foreign bank . . . . . . . . . • • • Other deposits . . . . . . . . •#* Total deposits . . . . . • é • Deferred availability items . . . . . . Capital paid in . . . . . . . . » • • • Surplus (Section 7). ........... . Surplus (Section 13 b) . . . . . . . . Reserve for contingencies . . . . . . . All other liabilities ........ . . . TOTAL LIABILITIES Ratio of total reserves to deposit and F. R. note liabilities combined • • . Contingent liability on bills purchased for foreign correspondents . . . • • • 82.4% 697 704 2,478 Connitnents to make industrial advances 13,740 13,767 15,249 82.4% ^Revised, 79.7% Form FR-283-b ASSETS MD LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 17, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila* Gold certificates on hand and 10,632,407 609,772 4,543,941 461,532 due from U. S. Treasury 9,112 992 Redemption fund - F.R. notes 827 1,237 Other cash 390,598 41,231 110,289 30,446 Total reserves 11,032,117 651,830 4,655,467 492,970 Bills discounted» Secured by U.S.Gov't obligations, 1,494 direct or fully guaranteed 3,724 561 50 2,908 294 60 610 Other bills discounted Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 697,970 313,979 235,889 2,026,714 307,759 229,674 291,772 185,914 727,491 8l4 368 901 202 577 635 315 1,093 1,151 24,854 20,701 13,757 53,240 14,839 9,387 17,690 14,871 39,293 723,975 335,581 250,281 2,080,531 322,966 239,875 309,664 201,100 767,877 277 l4l 417 401 107 536 185 15 80 60 108 57 4l 167 196 330 208 237 418 49 736 818 23 1,478 643 19 115 200 67 448 i4o 165 2 1,119 208 16 427 526 16 847 445 38 1,197 Total bills discounted 110 6,632 Bills bought in open market 40 540 Industrial advances 15,816 2,381 U. S. Government securities» Bonds 744,105 56,940 Treasury notes 1,196,188 91,535 Treasury bills 623,722 47,728 Total U.S.Gov*t securities S,564,015 196,203 226,4)8 66.972 363,960 107,662 189,779 56,137 780,147 2.30,771 69,727 36,921 32,270 112,089 59,355 51,876 58,446 30,948 27,050 240,262 127,224 111,196 80,920 33,204 21,310 34,428 24,657 60,348 130,083 53,375 34y257 55,345 39,638 97,013 67,828 27,832 17,863 28,858 20,668 50,585 278,831 114,411 73,430 118,631 84,963 207,946 Total bills and securities Due from foreign banks F. R. notes ofother banks Uncollected items Bank premises A H other assets 785,838 235,240 66 18 4,225 1,618 149,134 46,234 9,857 4,752 15,369 5,002 241,465 129,543 111,973 8 17 7 l,44o 1,495 1,846 63,732 49,213 21,403 6,117 2,654 2,094 5,356 3,114 2,392 279,546 114,688 74,716 119,282 86,352 209,626 22 2 5 5 3 13 470 3,490 855 1,950 2,251 1,825 75,409 26,860 18,066 29,400 24,848 27,956 4,518 2,314 1,545 3,115 1,266 3,286 4,934 2,039 1,597 2,182 1,675 4,241 TOTAL ASSETS 2,587,003 198,734 14 180 23,032 1,567 589,565 57,310 44,486 2,968 51,280 3,379 1,788 213 3,690 1,171 55 3,243 2 135 14,327,663 915,802 5,619,956 785,834 1,042,102 521,608 389,996 2,447,211 470,695 336,656 465,598 315,716 1,016,489 Form FR-283-C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS Oil AUGUST 17, 1938 (in thousands of dollars) L IAB ILIT IES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St .Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,150,214 355,884 912,211 302,574 406,886 195,652 142,130 956,784 172,154 131,935 Deposits! Member bank - reserve account 8,085,198 439,666 3,846,859 354,290 483,017 226,202 168,306 1,261,777 224,368 125,314 U.S.Treasurer - General account 802,104 25,972 376,940 34,947 37,026 29,116 36,039 89,190 25,953 45,925 Foreign bank 115,867 8,4o4 4i,o44 11,439 10,739 5,019 4,086 13,891 3,502 2,685 Other deposits 10,589 2,298 5,122 1,738 6,455 3,213 233,198 5,113 179,635 2,020 Total deposits 9 ,236,367 479,155 4,444,478 402,696 541,371 262,635 213,553 1 ,366,596 260,278 177,137 Deferred availability items 589,541 56,394 141,912 47,733 61,103 48,161 21,232 78,444 27,560 18,086 Capital paid in 133,953 9,408 50,959 12,216 13,389 4,908 4,471 13,267 3,925 2,908 Surplus (Section 7) 147,739 9,900 51,943 13,466 14,323 4,964 5,626 22,387 4,667 3,153 Surplus (Section 13 b) 27,683 2,874 7,744 4,4li 1,007 3,409 730 1,429 545 1,001 Reserve for contingencies 32,774 1,448 8,210 2,000 3,176 1,401 1,602 7,118 1,215 1,894 All other liabilities 9,392 542 398 652 1,186 351 739 2,499 738_____ 847 TOTAL LIABILITIES for foreign correspondents Commitments to make industrial advances 165,741 75,767 332,496 226,325 166,974 562,100 28,591 27,457 44,948 3,385 3,385 8,288 883 2,566 13,566 259,184 200,382 628,902 30,347 28,406 30,163 4,190 3,94o 10,292 3,613 3,892 9,805 1,142 1,270 2,121 934 1,776 2 ,0 0 0 283 710 447 14,327,663 915,802 5,619,956 785,834 1,042,102 521,608 389,996 2,447,211 470,695 336,656 465,598 315,716101.6,489 697 53 224 72 68 32 26 88 22 17 21 21 53 13,740 1,366 3,878 400 1,483 1,811 180 19 585 237 433 51 3,297 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days 16 to 30 days 6,632 540 15,816 2,564,015 5,031 125 1,201 88,950 325 117 184 103,830 31 to 60 days 743 23 563 213,650 61 to 90 days 411 275 767 172,432 91 days to 6 months 6 months to 1 Year 121 -— 2,060 87,645 1 — — 3,028 168,763 1 Year to 2 Years _ — —— 5,412 479,410 2 Years to 5 Years — _ — 2,601 584,575 — Over 5 Years — — —— — 66-4,760 — Form Ffr-283-d FEDERAL RESERVE HOTE STATEMENT ON AUGUST 17, 1938 (in thousands of dollars) Total Boston New York Phila. Cleve# Federal Reserve notes* Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 4,M8,170 379,778 1,000,924 323,24-1 429,035 204,824 158,583 ,297,956 23,894 88,713 20,667 22,149 9,172 16,453 985,992 185,776 137,676 176,295 82,477 383,569 29,208 13,622 5,74l 10,554 6,710 51,073 4,150,214 355,884 956,784 172,154 131,935 165,741 75,767 332,496 912,211 302,574 4o6,886 195,652 142,130 Collateral held by agent as secu rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 4,539,632 390,000 1,010,000 327,000 434,000 205,000 164,000 1,010,000 188,632 l4l,500 180,000 85,500 404,000 5,629 70 1,757 703 318 699 500 190 80 142 199 526 445 4,545,261 390,070 1,011,757 327,703 434,318 205,699 164,500 1 ,010,190 188,712 l4l,642 180,199 86,026 4o4,445
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