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STATEMENT FOR THE PRESS Released for publication Friday morning, Aug. not earlier« Board of Governors the Federal Reserve System August 29, 1935* CONDITION OF FEDERAL RESERVE BANXS The daily average volume of Federal Reserve "bank credit outstanding during the week ended August 2S, as reported by the Federal Reserve banks, was $2,^7^,000,000, a decrease of $3,000,000 compared with tile preceding week and an increase of $13,000,000 compared with the corresponding week in 193^* On August 28 total Reserve bank credit amounted to $2,^71,000,000, an increase of $3,000,000 for the week. This increase corresponds with an increase of $55,000,000 in member bank reserve balances and a decrease of $13,000,000 in Treasury and national bank currency, offset in part by an increase of $2,000,000 in monetary gold stock and decreases of $39,000,000 in Treasury cash and deposits with Federal Reserve banks and $17,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on August 23 were estimated to be approximately $2,730,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills and in industrial advances. An increase of $16,000,000 in holdings of United States Treasury notes was offset by a decrease of $16,000,000 in holdings of Treasur; bills. Changes in the amount of Reserve bank credit outstanding ajid in related items during the week and the year ended August 2S, 1935, were as follows: Increase or decrease since Aug. 2S Aug. 21 Aug. 29 (In millions of dollars) Bills disc canted Bills bought U. S. Government securities Industrial advances (not including 26 million commitments - August 28) Other Reserve bank credit 9 S 2.U30 TOTAL RESERVE BAMC CREDIT Monetary gold stock Treasury and natioml bank currency 2,^71 9,197 2,402 Money in circulation Member bank reserve balances Treasury cash and deposits with F.R.banks Nonmember deposits and other F.R# accounts 5.573 29 -3 2.6S3 U73 +2 -12 -2 —— +3 +2S -7 +S +B -13 +1,216 +5 -1 +55 -39 -17 +222 +1,219 -261 +1+3 Released for publication Friday morning, August 30*1935? n o t earlier. B~801a ASSETS AND LIABILITIES Of THE TWELVE FEDERAL DESERVE BANKS COMBINED (In thousands of dollars) Aug. 28,1935 Aug, 21.1935 Au^;. 29,1934 6,1*^1,513 20,705 227.630 6,689,81*8 4,979,^82 24,293 235.917 5,239.692 2,112 3,61*6 3.1*60 4,519 16,488 ASSETS Gold certificates on hand and due from U. S. Treasury 6,482,231 20,1*07 Redemption fund - F. R. notes . . Other cash 227.124 Total reserves . . . . . . . . 6,729,762 Redemption fund - F. R. bank notes Bills discounted: Secured "by U.S.Gov't, obligations,di rect and/or fully guaranteed . . . . 5,423 Other "bills discounted . . . . . 3.986 Total hills discounted . . . . 9,409 Bills bought in open market . . . . 4,685 Industrial advances . 29,447 U. S. Government securities: Bonds 290,316 Treasury notes . . , 1,618,354 Certificates and bills 521.661 Total U.S. Government securities 2,1*30,331 Other securities 2,1*73,872 Total bills and securities Due from foreign banks . . . . 6^0 21,196 F. R. notes of other banks . . 1*1*3,265 Uncollected items 1*9,966 Bank premises . . . . . . . . 1*6.350 All other assets , TOTAL ASSETS . . . . 9,765.051 7,106 21,007 i*,69; 29,2& 5,247 810 290,255 467,839 1,281,420 682,543 1,602,281* ...537,701 2,1*30,2U0 2,431,202 221 l*79,sil 1*9,966 , 45to4o 9,755,108 2,459,257 3,127 ,17,834 401,225 52,775 56.824 8,232,846 3,352,057 3,340,983 3,103,289 5,3^6,1+37 1*9,877 1*1*7,201 5.291,U97 53,72l* 22,802 207.161 5,575,181* 1*83,1*1+2 11*6,71*1 11*6,730 144,893 ll*l*,893 22,621 30,775 22,621 30,776 138,383 11.898 9,765,051 10.1+79 9,755,108 22,545 28,534 8,232,846 2,1+71,325 628 18,1*90 LIABILITIES F. R. notes in actual circulation F. R. bank note circulation - net Deposits: Member bank - reserve accovint . 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 . . . . . Commitments to make industrial advances 19,122 .. 193,^29. 5,608,865 75.1* 75.C 31,933 4,126,973 29,936 11,238 192.686 4,360,833 400,800 146,529 70.2$ 573 26,363 24,781 357 ASSETS AMD LIABILITIES OF THE FEDERAL "RESERVE BASES OH AUGUST 28, 1935 (In thousands of dollars) B-SOIb ASSETS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Gold certificates on hand and due _ , , from u. S. Treasury 6,482,231 425,867 2,76o,l4s 301,762 10+5,838 199,617 148,864 1,236,008 187,405 i4o,£64 184,959 95.062 356,137 Redemption fund - F. R. notes 20,407 3,520 1,046 1,962 1/559 lr523 3-136 1,527 l,-4l 4j3 5S6 723 3,511 other cash 227,124 31.569 48,474 g9,?52 ll,76i 9:366 29.766 11,932 12.^1-7 12.983 6,902 13>974 Total reserves 6,729,762 1*60,956 2,809,668 332,956 Bills discounted: Secured by U.S.Govt, obligations 2,920 direct and/or fully guaranteed 5,423 1,24' 412 Other "bills discounted 3,986 $ 3,007 74 Total bills discounted 9,409 1,269 486 5*927 Bills bought in open market 4,685 1,800 4?5 Industrial advances 29,447 6,985 3,869 U. S. Government securities: 98,413 20,005 Bonds 290,316 17,279 Treasury notes 1,618,354 106,062 492,015 119,115 Certificates and bills 521,b6l 34,336 148,890 38,000 1*58,958 209,73s 161,366 1,267,301 200,398 153,58k 19Ss52S 102,687 373,622 90 25 241 30 115 445 1,777 271 23-032 147,306 47,687 173 1 4,581 6 84 20 65 75 93 205 514 125 120 84 80 448 85 64 2,110 168 127 l,l4l 719 122 1,830 245 328 808 34 4o 169 1,057 12,330 10,010 78,858 63,677 25:523 20,605 — 557 1,9/7 33,547 11,378 14.263 11,452 17,550 21,057 236,52s 73,266 46,496 72,063 4s,292 134,676 85,614 23,556 14,835 23.329 15,633 43,598 Total U.S.Govt, securities 2,1+30,331 157,677 739,318 177,120 218,025 116,716 94*292 355,689 108,200 75,644 106..S44 81,475 19y,331 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,1+73,872 162,155 640 48 21,196 339 443,265 46,458 49,966 3,168 46,350 562 754,030 181,950 220,362 121,741 95,558 258 66 bO 23 23 6,670 638 1,266 1,556 1,037 102,923 33,447 41,438 38,044 13,942 11,977 4,66o 6,632 3,028 2,331 34,027 4,181 1,568 1,170 1,621 358,223 108,812 77,903 108,280 84,l46 200,712 77 4 3 17 17 44 2,606 1,412 1,025 1,447 363 2,837 60,389 19,065 13,430 28,458 20,827 24,844 4,959 2,628 1,580 3,449 1,685 3,269 719 259 542 34o 897 464 TOTAL ASSETS 9,765,051 673,686 3,719,553 557,898 730,284 375,300 275,87s 1,694,274 332,578 248,067 340,519 210,622 606,392 ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAKES OH AUGUST 28, 1935 (In thousands of dollars) B-SOlc LIABILITIES Total Boston Hew York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 3,352,057 291,S3U 71s,29*+ 243,973 3 2 7 , ^ 157,^55 135,002 804,35*+ 1^2,675 99,884 126,971 61,995 242,121 Deposits*. 759,666 149,296 115,043 172,587 109,873 301,136 Member "basic - reserve account 5 , 3 ^ 3 7 302s2H0 2,605,564 241,437 322,390 157,913 109,292 3,221 10,255 816 2,513 M 6 S 1,506 16,943 1,570 2,492 2,608 2,371 1,011+ U.S.Treasurer - General account 49,877 1-374 Foreign bank 7.066 1,889 1.S13 706 687 2,213 572 458 512 ^96 1,336 19c122 2,55s Other deposits 146,552 3,169 2,339 2,061 2,3^3 5,230 7,775 6,966 339 2,118 11,679 i93s teg Total dep us it s_ 784,052 159,213 124,959 176,046 114,85s 315,165 5,608,865 303,693 2,769,437 2*47,311 329,055165,24s 113,828 13,44s 62,473 20,207 i4,is6 25-000 23,085 25,623 Deferred availability items 101s935 32,601 41,830 37,085 447*201 H65728 4,1+56 12,816 3,973 3,13*+ M 1 3 10,750 Capital paid in 1U6.7U1 10,75s 59,119s 15,121 13,11+1 5,o4o 5,540 21,350 4,655 3,^20 3,613 3,777 9,645 Surplus (Section f) l44.893 9.902 49,964 13^70 14,371 5,IS6 754 1,391 547 1,003 S02 1,252 695 Surplus (Section Ijb) 22,621 6,863 2,09s 1,007 3,335 Reserve for contingencies 30,775 i,64S 2,601 5,325 891 1,169 831 1,363 2,041 7,500 2,995 3,ooo i,4ii All other liabilities 11,808 249 249 2,513 4i7 312 215 279 352 6,062 324 386 5H0 TOTAL LIABILITIES 9,765.051 673,686 3,719 = 553 557.S9S 730,284 375,300 275,878 1,694,274 332,57s 248,067 3^0,519 210,622 606,392 Ratio of total reserves to deposit and F.R. note liabilities combined 75*1 Commitments to make industrial advances 26,363 7 6.6 3,312 80.6 9,73s 67.S 756 69.9 1,809 65.0 64.8 1.S13 607 79.S 521 66.4 1,931 68.3 65.5 149 58.1 1,185 448 67.0 4,og4 MATURITY" DISTRIBUTION OF BILLS A21D SECURITIES Total Bills discounted Bills bought in open market Industrial advances U. S. Government securities 9,409 4.685 29,447 2,430,331 Within 15 days 7,025 898 1,331 24,930 l6 to 30 days 916 2,036 188 27,463 31 to 60 days 564 502 1,732 112,31s 6l to 90 days 776 1,249 527 35t9S5 91 days to 6 months 124 1,776 293,253 Over 6 months 4 23,893 1,935.782 FEDERAL RESERVE NOTE STATEMENT OH AUGUST 28, 1935 (In thousands of dollars) Total Boston New Yorlt PMla. Cleve. Rich. Atlanta B-SOld Chicago St .Louis Minn. Kans.Cy. Dallas San Fran, Federal Reserve notes: Issued to F.R.bank "by F.R.Agent Held "by Federal Reserve "bank: 3,631,472 321,094 279^15 29,260 819,744 256,730 35+2,969 167,294 1 5 3 , u s 101,450 12,752 15,475 9,S39 18,116 833,202 I4S,S49 104,751 135,167 28,848 6,174 4,867 8,196 6s,541 280,013 6,546 37,892 In actual circulation 3,352,057 291,834 718,294 243,973 3 2 7 , ^ 157,^55 135.002 804,354 142,675 99,884 126,971 61,995 242,121 3,436,984 326,617 7,940 1,269 218,500 — 818,706 232,000 318,440 145,000 4,464 486 115 271 25,000 25,000 23,000 99,685 4o 55,000 845,466 132,632 105,500 125,000 — 84 85 167 17,000 — 12,000 56,675 231,263 719 240 11,500 50,000 3,663,424 327,886 823,170 257,486 3^3,555 168,271 154,725 845,466 149,716 105,585 137,167 68,894 281,503 Collateral held "by agent as security for notes issued to bank: Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Govt, securities Total collateral
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