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Form FR—283 STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 16; not earlier. Board of Governors of the Federal Reserve System December 15, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended December l4 member bank reserve balances increased $68,000,000* Additions to member bank reserves arose from decreases of 030,000,000 in Treasury cash and $25,000,000 in nonmember deposits and other ¿■federal Reserve accounts, and increases of $9,000,000 in Reserve bank credit, $13>000,000 in gold stock, and 09,000,000 in Treasury currency, offset in part by increases of $l4,000,000 in money in. circulation and $6,000,000 in Treasury deposits with Federal Reserve banks* Excess reserves of member banks on December 1*4 were estimated to be approximately $3»480,000,000, an increase of $40,000,000 for the week* The principal changes in holdings of bills and securities were an increase of i|3,000,000 in United States Treasury notes and a decrease of $3>000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended December l4, 1938, were as follows: Increase or decrease since Dec, l4, JL22& ______ Dec 7, 1938 . Dec. 15. 1937 (In millions of dollars) Bills discounted Bills bought U, S, Government securities Industrial advances (not including 15 million commitments - December l4) 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 7 1 2,564 16 9 2 --------------- 2 17 «M* 13 + 1 + 8 2,600 14,380 2,784 + 9 + 13 + 9 31 +1*,615 + 159 + + + - +2 j,150 + . 262 969 + 181 + 120 9,034 6,858 2,651 413 809 68 l4 30 6 25 - Fora FR-283-a Released for publication Friday morning, December 16, 1938; not earlier» ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Dec, 14, 1938 Dec. 7, 1938 Dec. 15, 1937 11,713,718 9,592 ___ 22.9*729 +51,997 - 415 ~6,0l4 +2,591,811 + 672 +26,549 12,063,039 +45,568 +2,619,032 4,462 ... ¿¿22 6,997 + 807 + 147 A S S E T S Gold certificates on hand and due from U, S, Treasury Redemption fund - F. R. notes Other cash Total reserves Bills discountedt Secured by U, S, Gov’t obligations, direct or fully guaranteed Other bills discounted + 954 - 7,542 .. -.1*222 - 8,775 + + 2 88 - 2,276 ~ 2,859 787,327 1,167,565 .609 »122, +3,000 -3,000 +15,788 +32,568 -48.356 2,564,015 — 2,587,13? 172 25,038 790,067 44,106 56,183 +l,o44 - 2 +3,465 +169,288 - 11 +4,447 -13,910 9 + 1,680 +16,033 - 1,178 +20.117 15,565,739 +223,799 +2,641,765 4,432,967 + 10,518 + 9,033,512 412,790 185,705 365,162 9,997,169 777,496 134,157 147,739 27,683 32,672 15.856 + 67,244 + 5,413 - 25,013 .- ..„.221 + 47,289 +2,149,105 + 181,250 - 30,733 + 162,579 TOTAL LIABILITIES Ratio of total reserves to deposit and F, R. note liabilities combined Contingent liability on bills purchased for foreign correspondents 15,565,739 +223,799 Commitments to make industrial advances 14,949 Total bills discounted Bills bought in open market Industrial advances U. S. Government securitiest Bonds Treasury notes Treasury bills Total U,S, Total bills Government securities and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 549 15,573 L I A B I L I T I E S 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 83.6$ +161,777 + 108 + 1 +4,106 -- 76 139,660 +2,462,201 + 32,814 + 1,607 + 1,885 + 68 - 3,025 + 6.555 +2,641,765 +3.3$ - 1,709 - 198 + 1.994 Fora FR— 283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS Oil DECEMBER 14-, 1938 (in thousands of dollars) A S S E T S Total Boston New York Phila, Gold certificates on hand and due from U. S. Treasury 11,713,718 665,533 5,123,695 529,903 Redemption fund - F.R. notes 9,592 346 1,300 1,319 Other cash 339,729 35,337 98,485 24,863 Total reserves 12,063,039 701,216 5,223,480 556,085 Bills discounted! Secured by U.S.Gov’t obligations, direct or fully guaranteed 4,462 277 707 2,393 Other bills discounted 384 618 2,535 — Cleve, Rich, Atlanta Chicago St.Louis Minn, Kans.Cy. Dallas 738,368 356,588 261,961 2,182,639 3l4,4ll 253,895 302,357 198,207 San Fran, 202 13,651 786,161 1,728 29,681 758,357 374,807 274,683 2,233,176 333,953 261,24o 316,412 212,060 817,570 844 19,145 575 603 17,644 12,119 682 861 49,855 18,681 612 520 6,733 13,535 l4l 269 77 90 98 185 15 100 348 109 108 l4l 94 538 14 48 190 3 4io 50 619 167 24 1,490 283 19 823 115 68 415 457 2 44 249 2 985 682 16 269 62 744 193 39 1,352 32,096 47,595 24,831 84,870 32,792 17,446 34,774 28,943 125,859 48,62.9 25,872 51,570 42,922 65,660 25,370 13,497 26,904 22,393 62,242 92,301 48,154 Total bills discounted Bills bought in open market Industrial advances U, S, Government securities» Bonds Treasury notes Treasury bills 787,327 59,255 1,167,565 87,873 609,123 45,843 250,391 68,403 371,314 101,437 193,717 52,921 79,168 36,947 117,403 54,790 61,249 28,584 Total U.S.Gov’t securities 2,564,015 192,971 815,422 222,761 257,820 120,321 104,522 276,389 106,791 94,258 202,697 Total bills and securities Due from foreign banks F,R.notes of other banks Uncollected items Bank premises All other assets 2,587,134 195,406 172 13 25,038 803 790,067 73,300 44,106 2,950 56,183 3,4l4 821,998 227,274 64 17 1,006 5,417 205,809 63,119 9,791 4,699 16,336 8,679 258,899 122,002 105,647 6 16 8 1,419 1,210 2,033 95,481 61,725 28,453 2,080 2,627 6,029 2,398 5,778 2,971 276,987 107,294 58,051 114,215 95,080 21 2 5 5 3 724 1,020 1,779 2,923 2,791 104,858 34,272 18,191 38,956 27,293 1,264 4,490 3,091 2,297 1,536 1,862 5,068 1,992 1,282 2,123 204,281 12 3,913 38,610 3,252 4,280 TOTAL ASSETS 6,997 549 15,573 277 4l 2,117 2,777 216 3,583 1,325 56 3,132 56,815 113,248 16 15,565,739 977,102 6,282,895 860,879 1,12.5,979 565,350 415,300 2,627,523 482,602 342,081 475,822 338,288 1,071,918 Form FR-283-C ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BAMS ON D E C K E R l4, 1938 (In thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Gy. Dallas San Fran. 989,873 182,585 137,120 170,264 81,058 F.R.notes in actual circulation 4,432,967 387,110 l*j020,878 321,767 Deposits* Member bank — reserve account 9,033,512 434,711 4,616,129 383,107 U.S.Treasurer — General account 412,790 18,487 55,465 28,805 Foreign bank 185,705 13,374 66,638 18,204 0th£r deposits 365,162 26,077 211,578 9,433 427,153 209,260 150,410 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 572,135 278,556 223,649 1,488,907 253,378 176,505 254,576 216,l4o 651,315 93,711 62,344 28,124 102,967 35,897 19,074 40,699 29,904 40,017 13,401 4,997 4,481 13 ,4o4 3,934 2,903 4,203 3,953 10,351 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 9,805 1,007 3,409 730 1,429 545 1,001 1,142 1,270 2,121 3,176 l,4oi 1,603 7,035 1,215 1,873 935 1,776 2,000 1,073 419 677 1,521 381 452 390 295 820 TOTAL LIABILITIES 9,997,169 492,649 4,949,810 439,549 777,496 72,890 189,168 62,701 134,157 9,412 50,905 12,213 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,4ll 32,672 1,448 8,210 2,000 15,856 819 4,237 4,772 355,489 501,502 235,791 173,735 1,351,629 212,465 124,224 228,738 178,291 593,190 38,866 31,348 38,518 53,361 28,742 42,934 18,604 30,218 27,442 13,188 17,089 7,987 6,501 22,105 5,573 4,272 5,387 5,387 14,678 3,430 4,895 61,812 6,598 5,075 1*847 2,244 17,495 15,565,739 977,102 6,282,895 860,879 1,125,979 565,350 415,300 2,627,523 482,602 342,081 475,822 338,2881,071,918 Contingent liability on bills purchased for foreign correspondents 76 Commitments to ’make industrial advances 14,949 6 27 7 7 3 3 9 2 2 2 2 1,320 3,410 1,517 2,251 1,301 159 58 525 214 552 50 3., MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities .6,997 i 549 y15,573 2,564,015 Within 15 days 16 to 30 days 564 5,553 264 1,432 555 90,458 105,340 — 31 to 60 days 246 285 805 190,057 6l to 90 days 6 months 91 days to to 1 Year 6 months 461 155 — 429 194,268 - 1,209 112,566 1 Year 2 Years to to 2 Years 5 Years Over 5 Years 18 — 3,715 155,663 — 4,800 398,744 — 2,628 610,337 — 706,582 Form FR—283—d FEDERAL RESERVE NOTE STATEMENT ON DECEMBER l4, 1938 (in thousands of dollars) Total Boston Federal Reserve notesi Issued to F.R. bank by F.R.agent Held by Federal Reserve bank In actual circ^ ^ i o n New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn* Kans.Cy. Dallas San Fran. 4,759,331 4)6,371 1,130,634 340,529 448,025 222,129 163,702 1,015,797 200,306 14-1,197 180,356 89,088 421,197 326,364 19,261 109,756 18,762 20,872 12,869 13,292 25,924 17,721 4,077 10,092 8,030 65,70£ 4,432,967 387,110 1,020,878 321,767 427,153 209,260 150,410 989,873 182,585 137,120 170,264 81,058 355,489 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, 4,835,000 410,000 1,145,000 345,000 451,000 2.25,000 169,000 1,030,000 207,000 143,500 185,000 6,057 277 2,724 850 191 167 263 115 398 158 661 90,500 434,000 60 193 4,841,057 410,277 1,147,724 345,850 451,191 225,167 169,263 1,030,115 207,398 143,658 185,661 90,560 434,193
@FedFRASER