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Form F’R-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Sept. 1; not earlier. Board of Governors of the Federal Reserve System August 31 , 1939 CONDITION OF FEDERAL RESERVE BANKS During the week ended August 30 member bank reserve balances increased $122 ,000,000. Additions to member bank reserves arose from increases of $137,000,000 in gold stock, $7,000,000 in Reserve bank credit and $2,000,000 in Treasury currency and decreases of $15,000,000 in Treasury deposits with Federal Reserve banks and $7,000,000 in Treasury cash, offset in part by in creases of $-43,000,000 in money in circulation and $3 ,000,000 in nonmember de posits and other Federal Reserve accounts. Excess reserves of member banks on August 30 were estimated to be approximately $4,800,000,000, an increase of $60 ,000,000 for the week. The principal changes in holdings of bills and securities were increases of $3,000,000 in United States Treasury notes and $1,000,000 in Treasury bonds and a decrease of $1,000,000 in Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended August 30 , 1939, were as follows: Increase or decrease since Aug. 30 , 1939 . Aug. 23, ...191? Aug. 31 , ..._19J8 (in millions of dollars) Bills discounted Bills bought U, S. Government securities Industrial advances (not including 11 million commitments - August 30 ) Other Reserve bank credit + 1 - 2,426 + 3 - 138 12 3 Total Reserve bank credit Gold stock Treasury currency 16,638 Member bank reserve balances Moiifty in circulation Treasury cash Treasury deposits with F. R. banks Konmcmber deposits and other F.R, accounts 10,951 7,141 2,327 709 1 6 1 2,448 2,905 863 — — + 2 + --- 4 5 + 7 +137 + 2 - 137 +3,502 + 174 +122 + 43 - 7 - 15 + 3 +2,772 + 637 - 153 - 11 + 295 Form FR-283-a Released for publication Friday morning, Sept, 1,1939; not earlier, STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 31 , Aug. 30, Aug. 23, 1938 1939 ....1939.... A SSETS 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 bill,--; discounted Total bills dj.pcounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Trej.iiu.ry notes Treasury bills Total U,3, Government securities Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 14,312,220 8,644 .129,748 +144,500 482 . 1 _JjO?8 +3,679,807 + 1,223 ...4di?_27 14 ,660,612 +138,920 +3,635,103 2,109 4,081 + 1,097 + 275 6,190 546 11,667 + 1,372 912,460 1,179,109 + 1,370 + 3,000 920 + 168,355 - 17,079 289,102 2,426,189 + 3,450 - 137,826 2,444,592 177 23,664 588,704 42,211 52,122 + 4,783 + 28 + 1,932 - 15,561 13 + 1,090 - 143,003 7 1,953 + 63,401 2,199 417 17,812,082 +131,179 +3,550,925 4,609,2.82 + 37,152 + 440,020 10,951,004 708,611 350,132 257,768 +122,034 - 15,143 + 26,372 - 22,418 +2,772,153 - 11,637 + 224,192 + 70,446 12,267,515 585,540 +110,845 - 17,680 +3,055,154 + 57,774 -2*?48 17,466,285 + __ 820 +131,147 + 135,487 149,152 27,264 33,894 17,812,082 + 29 10 1,932 978 + - 954 9 4,232 + — — - 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 Other liabilities including accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts • 1—f 86.9$ 101 11,009 +3 ,553,576 + + 1,493 1,4-13 419 - +.. -Jl +131,179 -f TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 1 — — 628 66 - . ¿»128 +3,550,925 + - 4.5$ 369 2,534 Form FR-283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON AUGUST 30, 1939 (In thousands of dollars) A SSETS Cleve. Rich. Atlanta Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 14,312,220 Redemption fund - F.R.notes 8,644Other cash 339,748 807,237 6,956,799 334 1,287 22,209 87,531 717,335 742 27,036 853,120 372,951 307,269 2,268,190 370,579 257,700 352,908 227,704 888 871 641 463 891 435 375 635 22,211 20,922 20,990 46,576 17,642 8,938 18,925 15,537 820,428 1,082 31,231 829,780 7,045,617 745,113 876,219 394,744 328,900 2,315,657 388,656 267,013 372,468 243,704 852,741 133 196 113 — 1,468 1,277 236 349 51 365 Total reserves 14.660.612 Bills discounted: Secured by U.S.Gov’t obligations, direct or, fully guaranteed 2,109 Other bills discounted 4,081 170 60 Chicago St.Louis 292 30 139 20 245 352 23 169 19 752 265 69 372 — Minn* Kans.Cy,. Dallas San Fran. 143 10 78 143 2 3 88 2 824 ----- 334 50 405 55 736 334 16 204 455 16 551 791 39 1,042 Total bills discounted 6,100 Bills bought in open market 546 Industrial advances 11,667 U.S. Government securities* 3onds 912,460 Treasury notes 1,179,109 Treasury bills 334,620 170 41 1,741 2,745 213 2,052 329 55 2,700 67,099 86,708 24,607 265,604 343,221 97,403 77,283 99,867 28,341 91,377 51,312 38,836 118,078 66,307 50,186 33,510 18,817 14,242 98,803 42,326 25,970 45,438 34,899 127,676 54,696 33,560 58,716 45,099 36,233 15,522 9,524 16,664 12,798 73,513 94,995 26,959 Total U.S.Gov’t securities 2T426fl89 178,414 706,228 205,491 242,965 136,436 103,264 262,712 112,544 69,054 120,818 92,796 195,467 Total bills and securities 180,366 711,238 66 4,955 152,952 8,926 15,499 208,575 18 1,009 42,385 4,615 4,625 243,730 137,872 104,204 6 16 8 1,734 1,765 2,100 67,280 50,611 20,828 5,918 2,570 2,048 5,686 3,497 2,298 263,418 112,692 69,968 121,372 93,818 22 2 5 5 3 2,827 1,234 1,437 1,190 523 79,377 24,232 15*912 28,401 20,066 3,899 2,261 1,508 3,157 1,227 5,024 2,116 1,479 2,370 1,933 197,339 13 4,511 26,958 3,174 4,255 Due from foreign banks F.R.notes of other banks Uncollected items Bank premises Other assets TOTAL ASSETS 177 23,664 588,704 42,211 52,122 13 379 59,702 2,908 3,340 1,061 17,812,082 1,076,>488 7,939,253 1,006,340 1,200,583 591,067 460,384 2,670,224 531,194 357,319 528,963 361,276 1,088,991 Form FR-283-C STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS Oil AUGUST 30, 1939 (in thousands of dollars) LIABILITIES Total F.R,notes in actual cir culation 4,609,282 Deposits s Member bont—reserve account 10,951,004 U.S.Treasurer-General account 708,611 350,132 Foreign bank 257,768 Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends 12,267,515 585,540 Boston New York Fhila, Cleve. Rich. Atlanta Chicago St.Louis fvlinn. Kans.Cy. Dallas San Fran. 392,979 1,159,958 323,346 429,919 205,734 152,687 1,017,201 180,3??7 133,407 173,608 78,286 361,770 516,962 6,084,479 52,675 136,175 25,205 124,985 4,642 173,963 515»302 49,826 33,958 7,338 568,479 256,654 208,107 1 ,388,861 249,736 140,091 250,004 193,135 579,194 58,954 46,834 48,325 81,873 48,807 44,734 50,251 44,418 45,739 32,558 15,054 12,253 42,361 10,152 8,052 10,153 10,153 25,248 10,542 6,001 5,650 12,137 1,510 6,013 5,437 2,156 22,379 599,484 6,519,602 59,780 138,751 606,424 43,830 672,128 320,052 274,698 1 ,523,637 314,696 198,527 315,845 249,862 672,560 84,350 25,484 16,155 29,270 21,981 29,738 65,637 50,348 20,216 3,948 369 1,703 458 256 64 142 319 80 118 203 91 145 TOTAL LIABILITIES 17,466,285 1,052,612 7,820,014 974,058 1,167,940 576,198 447,743 2,625,507 520,647 348,207 518,926 350,220 1,064,213 CAPITAL ACCOUNT S 10,616 Capital paid in 12,116 13,752 5,114 4,559 13,803 3,994 2,917 4,296 4,042 135,487 9,405 50,873 22,666 4,685 3,153 3,613 3,892 Surplus (Section 7) 52,463 13,696 10,083 149,152 9,965 14,323 4,983 5,630 Surplus (Section 13b) 4,4l6 1,429 2,121 545 1,001 1,142 1,266 1,007 3,293 27,264 2,874 7,457 713 Other capital accounts 986 1,856 2,076 3,561 1,479 1,739 8,446 6,819 1,323 2,04l 33,894 1,514 2,054 TOTAL LIABILITIES AND 17,812,082 1,076,488 7,939,253 1,006,340 1,200,583 591,067 460,384 2,670,224 531,194 357,319 528,963 361,276 1,088,991 CAPITAL ACCOUNTS Contingent liability on bills purchased 12 2 7 for foreign correspondents 4 4 10 10 101 3 7 3 3 36 Commitments to make industrial — 596 3,422 424 advances 928 139 30 65 1,445 2,014 1,341 605 11,009 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total 6,190 546 11,667 2,426,189 Within 15 days 2,484 314 1,314 60,625 16 to 30 days 2,191 23 78 67,050 31 to 60 days 678 209 444 68,050 61 to 90 days 550 — 445 97,615 91 days to 6 months 6 months to 1 Year 284 3 — — 2,330 2,003 296,068 143,956 1 Year to 2 Years — — 2,535 329,575 2 Years to 5 Years Over 5 Years — — — — 2,518 531,535 --- 831,715 Form FR-283-d. FEDERAL RESERVE NOTE STATEMENT OK AUGUST 30 , 1939 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notest Issued to F.R.bank by F.R.agent Held by Federal Reserve bank In actual circulation Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 4,892,298 414,844 1,244,492 341,707 448,582 216,987 164,464 1,048,214 192,478 137,928 182,723 86,787 413,092 283,016 21,865 84,534 18,361 18,663 11,253 11,777 31,013 12,091 4,521 9,115 8,501 51,322 4,609,282 392,979 1,159,958 323,346 429,919 205,734 152,687 1,017,201 180,387 133*407 173,608 78,286 361,770 Collateral held by agent as se curity for notes issued to bank* Gold certificates on hand and due from U.S. Treasury Eligible paper Total collateral 4,967,000 420,000 1,263,000 345,000 450,000 220,000 169,000 1,055,000 196,000 139,500 185,000 90,500 434,000 3,389 170 1,877 133 — 265 — — 9 16 274 — 645 4,970,389 420,170 1,264,877 345,133 450,000 220,265 169,000 1,055,000 196,009 139,516 185,274 90,500 434,645
@FedFRASER