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STATEMENT FOR THE PRESS Released for publication Friday morning, Aug, 20; not earlier* Board of Governors of the Federal Reserve System August 19, 1937* CONDITION OF FEDERAL RESERVE BANKS During the week ended August IS member bank reserve balances increased |)63,000,000. Additions to member bank reserves arose from an increase of $><4,000,000 in Treasury currency and a decrease of $97,000,000 in Treasury deposits with Federal Reserve banks, offset in part by a decrease of #7,000,000 in Reserve bank credit and increases of $18,000,000 in money in circulation, $12,000,000 in nonmember deposits and other Federal Reserve accounts, and $2,000,000 in Treasury cash other than inactive gold. Excess reserves of member banks on August 18 were estimated to be approximately #780,000,000, an increase of #40,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to #1,296,000,000 on August 18, an increase of #31,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 18, 1937, were as follows: Increase or decrease since Aug. 18 1937 Aug. 11 1937 Aug. 19 1936 (In millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 15 million commitments - August 18) 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. Rf accounts 18 3 2,526 +1 +12 — — — — — +96 «•— mm -8 -8 +8 2,565 12,527 2,577 -7 +30 U +108 +1,849 +78 6,744 6,500 3,672. 156 598 +63 +18 +32 -97 +12 +515 +316 +1,262 -59 +1 21 -3 _ (B-801) Released for publication Friday morning, August 20,1937; not earlier. B-801a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Aug. 18, 1937 Aug. 11, 1937 Aug. 19,1936 ASSETS Gold certificates on hand and due from U. S. Treasury Redemption fund - F. R. notes . . . . Other cash Total reserves Bills discountedI 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 . Ottter securities Total bills and securities . . . . Due from foreign banks F. R. notes of other banks Uncollected items Bank premises . All other assets TOTAL ASSETS 8,831,946 10,122 303,051 9,145,119 8,832,398 10,78A 306.903 9,150,085 8,255,038 13,070 282,4-33 8,550,5-41 13,755 4,533 18,288 3>073 21,007 11,674 5,023 16,697 3,072 21,043 3,405 3,072 6,477 3,094 28,662 732,508 1,157,713 635,969 ' 2,526,190 732,508 1,157,713 635,969 2,526,190 2,568,558 227 25,444 643,160 45,501 43,966 2,567,002 227 25,686 582,630 45,502 43,520 324,721 1,496,719 608,787 2,430,227 181 2,468,641 219 21,540 589,851 48,054 43,644 12,471,975 12,4l4,652 11,722,490 4,238,391 4,228,043 3,988,055 6,743,874 155,689 199,602 l4o,513 7,239,678 646,593 132,533 145,854 27,490 35,838 5,598 6,681,124 252,690 193,493 133,626 7,260,933 578,259 132,530 145,854 27,490 35,871 5,672 6,228,518 215,424 90,126 251,437 6,785,505 601,610 130,169 145,501 27,088 34,236 10,326 12,471,975 12,4l4,652 11,722,490 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 Ratio of total reserves to deposit and F. R. note liabilities combined . . Contingent liability on bills purchased for foreign correspondents 79,7% 79,6% 79. A% 2,478 2,780 - t- 15,249 15,30A 23,271 •t Commitments to make industrial advances ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 18, 1937 (in thousands of dollars) B-SOlb ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 8,831,946 439,432 3,278,462 509,842 Redemption fund - F.R. notes 10,122 413 1,743 506 Other cash 303,051 33,632 77,269 23,186 Total reserves 9,145,119 473,477 3,357,474 533,534 Bills discounted« Secured by U.S.Gov't obligal direct or fully guaranteed Other bills discounted Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 713,023 282,086 234,811 1,729,196 272,452 195,241 297,132 184,877 695,392 762 922 1,253 374 1,090 640 285 400 1,734 17,270 17,982 13,515 42,008 14,624 6,119 16,687 13,746 27,013 731,055 300,990 249,579 1,771,578 288,166 202,000 314,104 199,023 724,139 .ViiD f 13,755 4,533 3,370 35 5,514 2,489 690 50 44l 46 695 32.5 862 588 40 301 95 345 56 48 128 849 607 600 114 Total bills discounted 18,288 740 318 3,847 487 293 830 1,020 120 1,962 1,450 107 187 40 384 814 396 86 298 401 60 74 5 1,456 3,073 21,007 8,003 1,086 5,486 176 Bills bought in open market Industrial advances U.S.Government securities: Bonds Treasury notes Treasury bills 3,405 224 2,955 87 602 87 1,194 714 221 2,087 732,508 53,385 1,157,713 84,375 635,969 46,349 210,233 61,861 33.2,270 97,767 182,526 53,708 71,309 38,575 32,184 112,702 60,968 50,865 61,911 33,491 27,942 80,726 32,298 23,828 35,992 28,601 63,516 127,585 51,046 37,660 56,886 45,202 100,387 70,087 28,041 20,688 31,249 24,831 55,146 Total U.S.Gov't securities 2,526,190 184,109 725,029 213,336 245,922. 133,034 110,991 278,398 111,385 82,176 ^24,127 98,634 219,049 Total bills and securities 2,568,558 190,693 739,604 218,241 16 227 579 25,444 643,160 64,852 45,501 3,024 43,966 2,695 22 91 961 5,093 157,630 53,368 10,038 4,878 5,121 12,443 247,532 136,136 112,735 20 9 8 1,710 1,205 1,330 61,945 54,986 21,2.83 279,636 112,165 83,382 124,992 101,371 222,071 26 4 3 6 6 16 3,009 2,300 1,198 2,093 353 5,613 88,733 26,815 18,474 36,929 27,421 30,724 4,640 2,360 1,493 3,190 1,251 3,389 4,135 1,709 1,590 1,997 1,743 3,307 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 6,280 2,746 4,754 2,756 1,716 12,471,975 735,336 4,282,373 816,125 1,052,791 498,953 389,243 2,151,757 433,519 308,l4o 483,311 331,168 989,259 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 18., 1%T7, (In thousands of dollars) B-801c LI AB I LI TIES Total Boston New York Phila. F.R.notes in actual circulation 4,238,391 286,734 939,160 315,310 Deposits» Member bank - reserve account 6,743,874 335,288 2,878,992 373,087 U.S.Treasurer - General account 155,689 7,426 39,950 13,811 199,602 14,198 75,318 19,061 Foreign bank 140,513 3,192 76,042 9,283 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 7,239,678 360,104 3,070,302 415,242 646,593 64,496 152,390 52,198 51,074 12,257 132,533 9,365 51,474 13,362 145,854 9,826 7,744 4,325 2,874 27,490 9,117 3,000 35,838 1,570 431 1,112 367 5,598 CIeve. Rich. Atlanta * 435,815 194,840 170,206 462,980 216,136 171,293 21,165 7,943 4,084 17,894 8,363 6,807 20,712 3,251 2,843 986,936 195,536 131,245 256,024 175,357 561,000 30,289 5,836 4,195 6,737 11,027 3,226 22,562 5,835 4,473 5,641 5,64l 13,809 145 4,026 11,063 1,253 6,4 53 2,250 522,751 235,693 185,027 1,041,040 213,660 142,163 268,547 196,051 589,098 ,90,791 29,2.40 18,645 37,547 31,407 32,590 62,395 53,566 21,328 4,350 12,856 3,839 2,892 4,048 3,873 10,177 12,929 4,873 21,504 4,655 14,323 4,869 5,616 9,645 3,116 3,613 3,851 754 1,416 545 1,003 1,142 1,262 1,007 3,422 1,996 7,777 1,199 941 1,847 3,121 1,497 1,691 2,037 2,041 271 193 1,268 200 277 450 542 290 197 12,471,975 735,336 4,282,373 816,125 1,052,791 498,953 389,243 2,151,757 433,519 308,l4o 483,311 331,168 989,259 Contingent liability on bills purchased 2,478 for foreign correspondents Commitments to make industrial advances 15,249 181 895 243 228 106 87 287 74 57 72 72 176 1,962 5,349 152 937 1,938 314 10 1,039 53 122 302 3,071 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days 18,288 16,083 920 1,555 691 65,661 219 1,286 397 90 426 104,170 666 3,073 21,007 2,526,190 142 445 58,034 2,214 309,058 Total Bills discounted Bills bought Industrial advances U.S.Government securities 783 20,246 91 days to 6 months 6 months to 1 Year 3,238 426,969 1 Year to 2 Years 2 Years to 5 Years Over 5 Years 5,712 236,997 7,498 623,368 681,687 FEDERAL RESERVE NOTE STATEMENT ON AUGUST 18, 1937 (in thousands of dollars) B~801d Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans. Cy. Dallas San Fran. Federal Reserve notest Issued to F.R.bank by F.R.agent 4,554,501 329,799 1,036,700 332,654 464,4-73 205,252 188,348 1,000,142 188,894 142,908 178,080 Held by Federal Reserve bank 316,110 43,065 97,540 17,344 28,658 10,412 18,142 25,037 8,790 4,918 10,807 In actual circulation 4,238,391 286,734 939,160 315,310 435,815 194,S4o 170,206 99,643 387,608 6,963 44,434 975,105 160,104 137,990 167,273 92,680 343,174 Collateral held by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury 4,593,632 336,000 1,040,000 337,000 467,500 205,000 171,000 1,020,000 190,632 145,000 180,000 102,500 399,000 Eligible paper 17,907 3,405 7,783 690 487 1,019 1,410 40 326 401 176 1,456 714 U. S. Gov't securities 20,000 20,000 w Total collateral 4,631,539 339,405 1,047,783 337,690 467,987 206,019 192,410 1,020,040 190,958 145,401 180,176 103,956 399,714
@FedFRASER