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Form FR—283 STATEMENT FOR THE PRESS Released for publication Friday morning, Aug. 26; not earlier. Board of Governors of the Federal Reserve System August 25» 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended August 2-4 member bank reserve balances increased $71,000,000. Additions to member bank reserves arose from decreases of #>4,000,000 in nomember deposits and other Federal Reserve accounts, $31,000,000 in Treasury deposits with Federal Reserve banks, $15,000,000 in money in circu lation, and increases of $27,000,000 in gold stock and $3,000,000 in Treasury currency, offset in part by an increase of $31,000,000 in Treasury cash and a decrease of §8,000,000 in Reserve bank credit. Excess reserves of member banks on August 24 were estimated to be approximately $2,980,000,000, an increase of $50,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended August 24, 1938, were as follows i Increase or decrease since Aug. 2,4 _193iL Aug. 17 19^8 Aug. 25 1937 (In millions of dollars) Bills discounted 7 Bills bought 1 U. S, Government securities 2,564 Industrial advances (not including l4 million commitments - August 24) 16 Other Reserve bank credit -8 — “12 -2 +38 -8 -5 -«4 2,579 13,079 2,727 -8 +27 +3 +i4 +538 +150 Member bank reserve balances 8,156 Money in circulation 6,470 Treasury cash 2,417 Treasury deposits with F. R. banks 771 Nomeiiber deposits and other F.R. t accounts 571 +71 -15 +31 “31 -34 +1,426 -25 -1,266 +610 -43 Total Reserve bank credit Gold stock Treasury currency ~ Form FR-283-a Released for publication Friday morning, August 26,1938? not earlier# ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED . 24. 1938 Aug. 17,1938 Aus. 25.1937 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 # # ........... Treasury notes . . . Treasury bills ...... Total U. S. Government securities Total bills and securities Due fl’om foreign banks . . F. R. notes of other banks Uncollected items „ • • . Bank premises ........ All other assets ...... TOTAL ASSETS .......... 10,632,411 9,112 196,822 11,038,416 10,632,407 9,112 390.598 11,032,117 8,831,948 9,423 308,865 9,150,236 3,699 1iQ42 6,?4l 537 15,852 3,724 2.908 6,632 540 15,816 11,312 .......7,191 18,703 3,077 20,929 744,105 1,196,188 623,722 2,564,015 744,105 1,196,188 .„.622x722 2,564,015 737,073 1,157,713 631.404 2,526,190 2,587,145 184 24,955 501,237 44,462 51.950 2,587,003 180 23,032 589,565 44,486 51.280 2,568,899 220 24,200 580,791 45,479 44.726 14,248,349 14,327,663 12,414,551 4,1-44,760 4,150,214 4,234,680 8,156,037 770,784 119,166 195.662 9,241,649 509,855 133,991 147,739 27,683 32,775 9.897 8,085,198 802,104 115,867 . 222*198 9,236,367 589,541 133,953 147,739 27,683 32,774 9.392 6,729,546 160,885 200,205 156,059 7,246,695 584,978 132,531 145,854 27,490 35,838 6.4S5 14,248,349 14,327,663 12,414,551 __________ .. _____ 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 i n ............ 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 • • • • • 82.5% 6o4 697 1,932 Commitments to make industrial advances 13,684 13,740 15,179 82.45S 79.7% Form ra-28>-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 24, 1938 (In thousands of dollars) A S S E T S Total Boston New York Phila. Cleve« Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. i due from U. S. Treasury 10,632,411 613,786 4,551,115 463,632 Redemption fund — F.R. notes 9,112 827 992 1,237 Other cash 396,893 41,507 113,890 31,386 714,655 313,886 231,710 2,031,244 309,556 219,331 291,362 182,966 709,168 814 202 315 1,093 901 577 368 635 1,151 25,104 22,4l4 14,527 51,503 15,565 9,621 18,7/0 13,476 39,130 Total reserves 11,038,416 656,120 4,666,242 496,010 Bills discounted* Secured by U.S.Gov*t obligations, direct or fully guaranteed 90 3,699 1,443 439 Other bills discounted 3,042 4o 362 597 740,910 337,201 246,872 2,083,324 325,489 229,766 310,334 196,757 749,391 Total bills discounted 6,741 130 Bills bought in open market 4o 537 Industrial advances 15,852 2,373 U. S. Government securities* Bonds 744,105 56,940 Treasury notes 1,196,188 91,535 Treasury bills 623,722 47,728 1,805 210 3,687 1,036 55 3,302 343 357 393 93 584 165 l4o 483 49 735 750 23 1,476 677 19 115 165 67 44l 4l 120 60 73 56 159 257 4o6 278 245 180 2 135 129 200 16 427 663 16 846 523 38 1,197 2 1,118 226,408 66,972 363,960 107,662 189,779 56,137 69,72? $6,921 32,270 112,089 59,355 51,876 58,446 30,948 27,050 80,920 33,204 21,310 34,.428 24,657 60,348 130,083 53,375 34,257 55,345 39,638 97,013 67,828 27,832 17,863 28,858 20,668 50,585 Total U,S.0ov»t securities 2,564,015 196,203 780,147 230,771 240,262 127,224 111,196 278,831 ll4,4ll 73,430 118,631 34,963 207,946 Total bills and securities Due from foreign banks F. R, notes of other banks Uncollected items Bank premises All other assets 2,587,145 198,746 184 14 24,955 1,893 501,237 50,281 44,462 2,968 51,950 3,417 785,849 235,164 18 70 4,565 1,573 121,133 40,085 9,857 4,741 15,630 5,029 241,529 129,473 112 ,007 8 7 17 1,446 2,341 1,239 56,032 44,935 17,165 6,117 2,654 2,090 5,419 3,142 2,416 279,504 114,728 74,679 119,274 86,488 209,704 2 5 22 5 13 3 1,724 512 1,572 3,812 1,705 2,573 64,530 22,014 14,894 27,116 19,889 23,163 4,518 2,314 1,545 3,H5 1,266 3,277 4,998 2,067 1,625 2,221 1,692 4,294 TOTAL ASSETS 14,248,349 913,439 5,603,346 782,620 1,051,263 518,859 382,898 2,439,469 468,339 324,083 463,770 306,609 993,654 Form FR—283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 24, 1938 (In thousands of dollars) LIABILITIES Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Total Boston New York Phila. F.R.notes in actual circulation 4,144,760 355,518 907,629 302,136 Deposits* Member bank - reserve account 8,156,037 443,468 3,907,583 351,668 U.S.Treasurer - General account 770,784 26,515 361,242 42,031 Foreign bank 119,166 8,609 42,526 11,717 Other deposits 195,662 4,711 143,094 2,263 408,707 196,093 139,805 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 196,896 608,623 553,383 263,285 213,049 1,370,856 263,029 167,719 259,382 : 56,377 44,294 16,959 66,037 23,396 14,746 28,874 22,956 26,308 13,388 4,988 4,473 13,267 3,918 2,908 4,190 3,938 10,342 22,387 4,667 3,153 3,613 3,892 9,805 14,323 4,964 5,626 73O 1,007 3,409 1,429 545 1,001 1*142 1,270 2,121 7,118 1,215 1,894 3,176 1,401 1,603 934 1,776 2,000 562 462 298 902 1,251 375 425 757 653 TOTAL LIABILITIES 9,241,649 483,303 4,454,445 407,679 509,855 50,236 119,714 39,958 50,956 12,215 133,991 9,408 51,943 13,466 147,739 9,900 27,683 2,874 7,744 4,4ll 32,775 1,448 8,210 2,000 752 9,897 2,705 755 957,124 171,194 132,100 165,173 75,583 333,698 502,l4l 224,664 166,237 1,276,142 225,821 117,64o 228,253 164,649 547,771 29,822 31,429 37,449 78,869 27,707 43,359 26,937 26,596 38,828 11,000 5,l4l 4,185 14,228 3,587 2,750 3,46? 3,467 8,489 10,420 2,051 5,178 1,617 5,914 3,970 725 2,184 13,535 14,248,349 913,439 5,603,346 782,620 1,051,263 518,859 382,898 2,439,469 468,339 324,083 463,770 306,609 993,654 Contingent liability on bills purchased 6o4 for foreign correspondents Commitments to make industrial 13,684 advances 43 217 59 55 26 26 21 72 18 l4 18 18 43 1,360 3,853 3^0 1,532 1,811 180 19 585 237 437 51 3,279 MATURITY DISTRIBUTION ‘ OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances UJ S. Government securities Total Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 6,741 537 15,852 2,564,015 4,980 137 1,241 83,330 418 —— 132 131,150 824 118 584 207,279 373 282 762 159,113 91 days to 6 months 6 months to 1 Year 1 Year to 2 Years 2 Years to 5 Years 1 -3,044 168,763 —— -— 5,411 479,410 -2,603 584,575 145 —— 2,075 85,635 Over 5 Years --~ 664,760 Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON AUGUST 24, 1938 (in thousands of dollars) Total Boston New York Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes : Issued to F.R.fcank by F.R.agent Held by Federal Reserve bank In actual circulation 4,44-3,342 379,630 1,002,640 321,274 430,178 204,856 157,641 298,582 24,112 95,011 19,138 21,471 8,763 17,836 984,927 184,952 138,221 175,450 82,650 380,923 27,803 13,758 6,121 10,277 7,067 47,225 907,629 302,136 408,707 196,093 139,805 957,124 171,194 132,100 165,173 75,583333,698 4,144,760 355,518 Collateral held by agent as secu rity for notes issued to banks Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 4,544,632 390,000 1,010,000 327,000 434,000 210,000 164,000 1,010,000 188,632 l4l,500 180,000 85,500 4c4,000 5,727 90 1,775 546 383 631 534 165 120 106 191 663 523 4,550,359 390,090 1,011,775 327,546 434,383 210,631 164,534 1,010,165 183,752 l4l,606 180,191 86,163 4o4,523
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