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Form Fit-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 17; not earlier* Board of Governors of the Federal Reserve System December 16, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended December 1$ member bank reserve balances increased 148,000,000, Additions to member bank reserves arose from increases of $19,000,000 in Reserve bank credit and $2,000,000 in Treasury currency and decreases of $10,000,000 in Treasury deposits with Federal Reserve banks, $19,000,000 in nonmember deposits and other Federal Reserve accounts, and $2,000,000 in Treasury cash other than inactive gold offset in part by an increase of $5,000,000 in money in circulation* Excess reserves of member banks on December 15 were estimated to be approximately $1,060,000,000, an increase of $10,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,233,000,000 on December 15, unchanged for the week. The principal changes in holdings of bills and securities were an increase of $33,000,000 in United States bonds and a decrease of $33,000,000 in United States Treasury notes* Changes in member bank reserve balances and related items during the week and the year ended December 15, 1937, were as follows* Increase or decrease since Dec. 15 1937 Dec. 8 1937 Dec, 16 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 13 million commitments - December 15) 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 16 3 2,564 -1 — +8 — — +134 — +21 -7 +13 2,631 12,765 2,625 +19 +1 +2 +148 +1,543 +93 6,88-4 6,596 3,620 232 689 +48 +5 -2 -10 -19 +210 +44 +1,274 +59 +197 18 30 Form FR-283-a Released f o r publication Friday morning, Dec. 1 7 , 1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec. 1 5 . 1937 D e c . 8,1937 Dec. 1 6 , 1936 9,121,907 8,920 313,180 9,444,007 9,121,907 9,688 311,282 8,853,624 12,133 232,753 9,442,877 9,098,510 12,00-4 3,768 12,210 5,180 5,856 1,828 15,772 17,390 7,684 2,825 18,432 2,825 18,450 3,089 25,313 771,539 1,134,997 657,479 738,073 1,168,463 657,479 489,576 1,347,163 593,488 Total U.S. Government securities . 2,564,015 2,564,015 2,430,227 Total bills and securities 2,601,044 2,602,680 2,466,313 181 23,358 774,034 45,284 36,066 181 26,314 569,040 45,269 46,223 220 26,646 895,842 48,082 39,468 12,923,974 12,732,584 12,575,081 4,293,307 4,294,885 4,268,972 6,884,407 231,540 216,438 202,583 7,534,968 6,836,282 241,843 225,938 219,700 6,674,157 172,826 60,779 165,803 7,523,763 7,073,565 744,682 132,550 145,854 27,615 35,697 9,301 560,213 132,534 145,854 27,615 35,733 11,987 879,317 130,390 145,501 27,088 34,246 16,002 12,923,974 12,732,584 12,575,081 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 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 securitiess Bonds . Treasury notes . . . . Due from foreign banks . F . R . notes of other banks Uncollected items . . . Bank premises * All other assets . . . TOTAL ASSETS L I A B I L I T I E S F. R. notes in actual circulation . . Deposits I Member bank - reserve account . . . U.S.Treasurer - General account . . Foreign bank . . . . . Other deposits Deferred availability items Capital paid in . . . . Surplus (Section 7) . . . . . . . . Surplus (Section 13 b) . Reserve for contingencies 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 79.8$ 79.9% 1,785 1,683 12,955 13,137 80.2$ 21,371 Form FR-283-a ASSETS AND LIABILITIES O F THE FEDERAL RESERVE BARKS OH DECEMBER 1 5 , 1937 (in thousands of dollars) A S S E T S Total Boston New York Phila* Gleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S . Treasury 9,121 >907 522,356 3,458,263 499,227 Redemption fund - F. R . notes 8,920 865 1,437 689 Other cash 313,180 31,230 77,389 20,218 687,566 315,543 231,719 1,778,889 285,633 191,691 278,195 187,360 684,965 806 362 1,615 332 821 46l 62 251 1,219 22,320 20,452 13,384 33,479 14,112 8,600 23,377 13,021 30,598 9,444,007 554,951 3,537,089 520,134 710,692 336,357 246,718 1,817,700 300,566 200,752 301,634 200,632 716,782 Total reserves Bills discounted: ! Secured by U.S.Gov t obligat UIIO , 12,004 direct or fully guaranteed 3,768 Other bills discounted 816 150 3,993 312 2,439 716 1,027 139 416 299 2,036 883 220 112 303 15 50 253 214 759 162 125 328 5 Total bills discounted 15,772 966 4,305 3,155 1,166 715 2,919 332 318 303 973 287 333 Bills bought in open market Industrial advances U . S . Government securities: Bonds Treasury notes Treasury bills 2,825 18,432 205 2,881 1,004 4,584 293 3,685 269 765 110 1,783 99 127 353 750 78 239 54 6 55 80 465 80 970 200 1,528 771,539 1,134,997 657,479 56,208 82,687 47,899 222,584 327,441 189,679 65,252 95,994 55,607 75,104 40,442 110,485 59,492 64,002. 34,462 33,775 49,683 28,780 84,854 124,827 72,310 24,979 36,745 21,285 37,694 55,449 32,120 30,009 44,148 25,574 66,791 98,254 56,917 Total U.S.Govt, securities Total bills and securities Due from foreign banks F. R . notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 33,847 49,792 28,844 2,564,015 186,794 739,704 216,853 249,591 134,396 112,238 281,991 112,483 83,009 125,263 2,601,044 190,846 749,597 223,986 251,791 137,004 115,383 283,426 113,118 84,021 126,7SL 101,068 224,023 21 3,888 107,031 4,601 3,162 2 855 21,380 1,522 1,264 181 23,358 774,034 45,284 36,066 13 459 70,922 3,006 2,036 71 5,947 193,335 9,969 10,693 18 901 60,234 4,836 4,205 16 1,452 79,940 6,228 3,872 8 1,616 64,365 2,709 2,243 6 2,012 29,230 2,198 1,328 3 1,722 33,700 2,345 1,298 5 1,646 38,609 3,159 1,526 99,731 221,962 5 542 29,458 1,356 1,275 13 2,318 45,830 3,355 3,164 12,923,974 822,233 4,506,701 814,314 1,053,991 544,302 396,875 2,219,829 452,752 309,796 473,360 334,336 995,485 Form FRr-283-c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE 3AHKS Oil (in thousands of dollars) SR 15, 1937 L I A B I L I T I E S Total Boston New York Phila. F.R.notes in actual circulation 4,293,307 288,026 955,207 323,412 Deposits; Member bank - reserve account 6,884,407 399,626 2,980,729 353,466 U.S.Treasurer - General account 231,540 18,247 29,442 21,307 216,438 15,754 78,539 21,149 Foreign bank 202,583 3,917 158,578 Other deposits 2,092 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies £11 other liabilities TOTAL LIABILITIES 7,534,968 437,544 3,247,288 398,014 182,176 59,100 744,682 72,437 51,049 12,262 132,550 9,383 51,474 13,362 145,854 9,826 7,744 4,325 27,615 2,874 9,117 3,000 35,697 1,570 2,646 839 9,301 573 Cleve. Rich. Atlanta 437,549 213,210 163,233 Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 989,545 181,854 138,431 168,501 88,190 346,149 450,042 215,121 172,435 1,012,687 200,042 125,951 237,187 189,606 547,515 36,842 26,803 12,812 4l,101 13,778 7,702 13,832 4,117 5,557 19,854 9,280 7,553 25,033 6,474 4,964 6,258 6,2.58 15,322 3,670 3,395 2,281 1,672 5,642 2,871 446 2,924 15,095 510,408 254,599 195,081 1,080,493 225,936 141,488 257,723 202,905 583,489 104,807 34,388 20,401 37,050 32,108 41,271 73,797 61,490 25,657 3,877 10,016 4,073 3,856 2,893 12,958 12,905 4,391 4,887 3,851 3,613 4,655 3,116 9,645 5,616 21,504 4,869 14,323 1,262 1,142 545 1,003 754 2,121 l,4l6 3,422 1,007 1,847 941 1,715 2,037 7,666 1,174 2,013 3»L21 1,496 296 317 344 428 451 757 1,493 828 329 12,923,974 822,233 4,506,701 814,314 1,053,991 544,302 396,875 2,219,829 452,752 309,796 473,360 334,336 995,435 Contingent liability on bills purchased for foreign correspondents 1,785 Commitments to make industrial advances 12,955 138 579 185 174 81 66 219 56 43 55 55 134 1,734 4,612 l4l 833 1,651 350 10 176 51 112 269 3,016 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bil]r bought Industrial advances U. S. Government securi tie; Total Within 15 days 16 to 30 days 31 to 60 days 61 to 9p days 15,772 2,825 18,432 2,564,015 13,326 1,545 921 49,011 826 434 173 758 63,926 428 1,107 515 180,299 563 24,385 91 days to 6 months 6 months to 1 Year 1 Tear to 2 Years 2 Years to 5 Years Over 5 Years 5,349 582,239 720,706 41 717 —- 1,446 415,784 3,366 252,476 5,514 275,189 Form FR-283-a FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 1 5 , 1937 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notes: Issued to F.R.bank b y F.R.agent 4,669,198 336,366 1,084,993 34-3,502 Held by Federal Reserve bank 375,891 48,340 129,786 20,090 [n actual circulation Cleve. Rich. Atlanta Chicago St.Louis M i n n . Kajis.Cy. Dallas San Fran 464,540 226,963 182,569 1,020,288 194,674 144,446 179,911 26,991 13,753 19,336 30,743 12,820 6,015 11,-410 97,844 393,102 9,654 46,953 437,549 213,210 163,233 989,545 181,854 138,431 168,501 88,190 346,149 4,705,632 341,000 1,090,000 347,000 14,801 893 4,275 2,701 20,000 -- -- 466,.500 228,000 162,000 1,040,000 200,632 147,000 180,000 1,161 715 2,659 306 318 20S 945 - ~ 20,000 99,500 404,000 287 333 4,740,433 341,893 1,094,275 349,701 467,661 228,715 184,659 1,040,306 200,950 147,208 180,945 99,787 4o4,333 4,293,307 288,026 955,207 323,412 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. Gov't securities Total collateral
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