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Form FR-283 STATEMENT FOR THE PRESS Board of Governors of the Federal Reserve System August 4, 1938, Released for publication Friday morning, Aug. 55 not earlier. CONDITION OF FEDERAL RESERVE BANKS During the week ended August 3 member bank reserve balances decreased $114,000,000, Reductions in member bank reserves arose from increases of $49,000,000 in money in circulation, $29,000,000 in Treasury cash, $43,000,000 in Treasury deposits with Federal Reserve banks and $8,000,000 in nonmember deposits and other Federal Reserve accounts and a decrease of $9,000,000 in Reserve bank credit, offset in part by increases of $23,000,000 in gold stock and $2,000,000 in Treasury currency. Excess reserves of member banks on August 3 were estimated to be approximately $2,920,000,000, a decrease of $120,000,000 for the week. The principal changes in holdings of bills and securities were an increase of $5,000,000 in United States Treasury notes and a decrease of $5 ,000,000 in United States Treasury bills* Changes in member bank reserve balances and related items during the week and the year ended August 3 , 1938, were as follows« Increase or decrease since Aug. 3 1938 July 27 .. 1928.. Aug, 4 ..1917, (In millions of dollars) Bills discounted Bills bought 1 U. S. Government securities Industrial advances (not including l4 million commitments - August 3 ) 16 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 6 -1 ---------2,564 --12 ----------■ —7 -9 -2 +38 -5 -8 2,574 13,025 2,721 —9 +23 +2 +13 +563 +149 8,074 6,465 2,357 775 64-9 ~ll4 +49 +29 +43 +8 +1,438 -3 -1,248 +466 +71 Form- FR—283-a Released for publication Friday morning, August 5, 1938; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Aug. 3. 1938 July 27. 1938 Aug. 4. 1937 ASS E T S 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 from foreign banks • • F. R* notes of other banks Uncollected items . . • • Bank premises . . . . . . All other assets ...... TOTAL ASSETS 10,633,400 9,098 421.229 11,063,727 8,833,399 9,784 312.308 9,155,491 3,339 2t.l2Z 6,-466 539 15,647 *4,162 *3«1607,322 539 10,026 PjZ E 744,105 1,196,188 623.722 2,564,015 744,105 1,190,070 629.040 2,564,015 732,5081,157,713 635.969 2,526,190 2,586,667 2,565,753 181 22,948 547,727 44,486 49.581 2,588,184 181 23,516 534,l4l 44,559 49.113 14,290,948 14,303,421 12,439,505 4,138,706 4,109,643 4,222,016 8,074,340 774,757 123,956 267.742 9,240,795 560,292 133,8l4147,739 27,682 32,810 9.110 8,187,723 732,462 125,243 257,451 9,302,883 539,276 133,785 147,739 27,683 32,810 9^602 6,635,764 308,778 195,093 124.926 7,264,561 606,265 132,442 145,854 27,490 35,873 5.004 14,290,948 14,303,421 12,439,505 10,632,904 9,437 397.012 11,039,354 16,308 15,403 3,078 21,082 222 28,198 601,649 45,500 42.692 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 . ...... Commitments to make industrial advances 82.5$ 82.5$ 79.7$ 879 2,917 13,731 13,809 ■^Revised. 15,366 727 Form FR-283—b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 3, 1938 (In thousands of dollars) A S S E T S Total Boston New York Phxla. Gold certificates on hand and due from U.S. Treasury 10,632,904 626,916 4,537,899 473,244 Redemption fund - F. R. notes 1,398 1,059 9,437 867 Other cash 397,013 4l,506 108,257 28,635 Total reserves 11,039,354 669,289 4,647,554 502,938 Bills discounted! Secured by U.S. Gov’t obligations, direct or fully guaranteed 120 801 3,339 773 Other bills discounted 88 64o 3,127 327 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, 682,174 313,873 235,333 2,076,214 312,097 219,470 276,607 182,522 696,555 214 664 384 326 1,109 644 821 1,218 733 9,744 18,673 16,008 39,097 54,091 16,216 28,829 21,031 14,926 712,221 335,637 250,923 2,130,949 328,697 230,035 295,494 198,856 736,761 304 200 402 415 187 643 115 —— 95 60 111 64 29 122 164 279 238 289 504 49 74l 817 23 1,481 830 19 119 115 67 448 155 2 135 175 2 1,126 151 16 417 443 16 852 527 38 1,348 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities» Bonds Treasury notes Treasury bills 744,105 56,940 1,196,188 91,535 623,722 47,728 226,408 66,972 363,960 107,662 189,779 56,137 69,727 36,921 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.Govft securities 2,564,015 196,203 780,147 230,771 240,262 127,22-4 111,196 278,831 11-4,-411 73 / 30118,631 84,963 207,946 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,586,667 198,832 181 l4 22,948 1,186 547,727 56,860 44,486 2,968 49,585 3,255 6,466 539 15,647 208 40 2,381 1,128 212 3,695 785,182 235,143241,556 129,545 112,164 279,461 114,703 74,733 119,215 86,274 209,859 67 18 17 8 6 23 3 2 5 5 13 3,883 l,>4l 1,388 1,381 1,035 2,826 1,884 1,687 1,762 375 4,200 126,799 41,499 60,852 45,613 21,168 74,192 24,048 17,203 29,239 19,876 30,378 9,857 4,752 6,117 2,654 2,094 4,518 2,314 1,545 3,115 1,266 3,286 14,873 4,885 5,204 3,024 2,297 4,767 1,962 1,542 2,076 1,593 4,107 TOTAL ASSETS14,290,948 932,4o4 5,588,215 790,576 1,413 55 2,904 1,027,355 517,862 389,687 2,496,736 473,611 326,747 450,906 308,245 988,6o4 Form Fft-283“c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON AUGUST 3, 1938 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Cleve. Phila* F.R,notes in actual circulation 4,138,706 356,406 907,784 301,245 Deposits* Member bank — reserve account 8,074,340 444,684 3,835,461 367,278 U*S.Treasurer - General account 774,757 37,392 344,209 32,183 Foreign bank 123,956 9,021 43,643 12,279 Other deposits 267,742 3,885 214,703 2,451 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities TOTAL LIABILITIES 9,240,795 494,982 4,438,016 414,191 560,292 56,655 121,160 42,336 133,814 9,413 50,966 12,220 147,739 9,900 ,51,943 13,466 7,744 4,4u 27,682 2,873 32,810 1,448 8,210 2,000 2,392 9,110 727 707 Rich, Atlanta Chicago St,Louis Minn, Kans.Cy, Dallas San Fran. 405,288 191,305 142,395 957,265 172,779 132,199 164,234 76,243 331,563 474,128 227,057 161,261 1,302,851 224,292 118,292 214,703 167,390 536,943 33,600 31,860 43,285 95,S4o 25,546 43,647 21,668 25,576 39,951 11,527 5,388 4,385 .14,910 3,759 2,882 3,633 3,633 8,896 9,540 3,495 4,063 1,654 6,257 3,943 1,007 2,6o4 l4,l4o 528,795 267,800 212,994 1,415,255 259,854 168,764 24l,011 199,203 599,930 60,547 43,620 21,240 78,857 30,268 16,283 35,393 21,621 32,312 13,266 3,924 2,906 4,179 3,941 10,169 13,391 4,972 4,467 22,387 4,667 3,153 3,613 3,892 9,805 14,323 4,964 5,626 1,007 3,409 730 1,429 545 1,001 1,142 1,270 2,121 3,176 1,401 1,603 7,146 1,215 1,901 934 1,776 2,000 540 4oo 828 704 632 299 391 359 1A3-1. 14,290,948 932,4o4 5,588,215 790,576 1,027,355 517,862 389,687 2,496,736 473,611 326,747 450,906 308,245 988,6o4 Contingent liability on bills purchased 727 for foreign correspondents Commitments to make industrial 13,809 advances 53 254 72 68 32 26 88 22 17 21 21 1,407 3,945 405 1,487 1,839 181 21 586 237 442 91 53 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days l6 to 30 days 31 to 60 days 61 to 90 days 6,466 539 15,647 2,564,015 4,916 105 1,123 92,335 255 125 193 88,950 426 70 469 215,480 628 239 730 193,257 91 days to 6 months 6 months to 1 Year 236 Ml 2,185 76,485 5 ----- 3,127 168,763 1 Year to 2 Years .. ^ ----- 5,494 479,410 2 Years to 5 Years Over 5 Years -2,326 584,575 664,760 Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON AUGUST 3 , 1938 (in thousands of dollars) Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St,Louis Minn, Kans.Cy. Dallas San Fran, Fcdcr^-l Rcserve notssI Issued to F,R.bank by F.R.agent Held by Federal Reserve bank In actual circulation 4/31,040 380,865 1,002,098 317,388 428,386 200,040 157,732 292,334 24/59 94,314 16,143 23,098 8,735 15,337 989,543 184,112 137,774 173,039 82,731 377,332 32,278 11,333 5,575 8,805 6,488 45,769 4,138,706 356,4o6 957,265 172,779 132,199 164,234 76,243 331,563 907,784 301,245 405,288 191,305 142,395 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 4,528,632 390,000 1,010,000 327,000 434,000 202,000 159,000 1,010,000 188,632 l4l,500 177,000 85,500 404,000 5,449 173 1,068 965 354 673 737 115 95 161 142 443 523 4,534,081 390,173 1 ,011,068 327,965 434,354 202,673 159,737 1,010,115 188,727 l4l,66l 177,142 85,943 4o4,523
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