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Form FRr-283 STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 2-4; not earlier, Board of Governors of the Federal Reserve System December 23, 1937 CONDITION OF FEDERAL RESERVE BANKS During the week ended December 22 member bank reserve balances decreased 129,000,000. Reductions in member bank reserves arose from increases of $85,000,000 in money in circulation, $5,000,000 in Treasury cash other than inactive gold, and $50,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by increases of $27,000,000 in Reserve bank credit and $5,000,000 in Treasury currency, and a decrease of $79,000,000 in Treasury deposits with the Federal Reserve banks. Excess reserves of member banks on December 22 were estimated to be approximately $1,010,000,000, a decrease of $50,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to $1,233,000,000 on December 22, unchanged for the week. The principal changes in holdings of bills and securities were an increase of $20,000,000 in United States Treasury notes and a decrease of $20,000,000 in United States bonds. Changes in member bank reserve balances and related items during the week and the year ended December 22, 1937, were as follows I Increase or decrease since Dec. 22 1937 Dec. 15 1937 , Dec. 23 1936 (in millions of dollars) Bills discounted Bills bought U.S. Government securities Industrial advances (not including 13 million commitments - December 22) 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 — 18 57 — 2,658 12,765 2,630 6,855 6,681 3,62,5 153 739 +7 — — — +134 +27 +27 — +5 -29 +85 +5 -79 +50 -7 -18 +116 +1,536 +99 + 3 4 8 +1 +1,283 -98 +217 Form FR~283~a Released for publication Friday morning, Dec, 24, 1937; not earlier, ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Dec, 2 2 , 1937 Dec, 15, 1937 Dec, 23, 1936 asset'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 9,120,390 9,912 283,366 8,851,876 12,741 199.574 9*413,668 9,121,907 8,920 313,180 9,444-,007 11,699 4,422 12,004 3,768 7,029 1,853 16,121 2,825 18,380 15,772 2,825 18,432 8,882 3,088 24,999 751r539 1,154,997 657,479 2,564,015 771,539 1,134,997 657,479 2,564,015 489,576 1,347,163 593,488 2,430,227 2,601,341 2,467,196 Total bills discounted • Bills bought in open market Industrial advances , , . , U, S. Government securities» Bonds Treasury notes Treasury bills Total U,S, Government securities 181 2,601,044 181 21,629 681,498 45,251 36f956 23,358 774,034 45,284 36,066 221 23,834 747,24-4 48,082 4o.l47 12,800,524 12,923,974 12,390,915 Total bills and securities Due from foreign banks • • . . F, R, notes of other banks • , Uncollected items Bank premises • . , All other assets • • TOTAL ASSETS 9,064,191 • LIABILITIES F, R. notes in actual circulation Deposits s Member bank - reserve account . , U, S. Treasurer - General account Foreign bank Other deposits , 4,346,383 4,293,307 4,350,488 6,854,904 152,593 188,837 280,868 6,507,490 250,560 74,383 181,428 Total deposits Deferred availability items Capital paid in • Surplus (Section 7) , . . . Surplus (Section 13 b) . . . Reserve for contingencies . All other liabilities .. , . . 7,477,202 625,146 132,619 145,854 27,615 35,673 10,032 6,834,407 231,540 216,438 2.02,553 7,534,968 744,682 132,550 145,854' 27,615 35,697 9,301 TOTAL LIABILITIES . • • • 12,800,524 12,923,974 Ratio of total reserves to deposit and F. R. note liabilities combined . Contingent liability on bills purchased for foreign correspondents . . . » 7 9 . 6 % 1,680 1,785 Commitments to make industrial advances 12,841 12,955 79.8$ 7,013,861. 672,619 130,624 145,501 27,088 34,248 16,486 12,390,915 79.8$ 21,064 Form FRr-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON DECEMBER 22, 1937 (in thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury9,120,390 505,902 3,542,410 489,321 Redemption fund - F. R. notes 9,912 850 586 1,318 Other cash 283,366 28,874 69,028 19,241 Total reserves 9,413,668 535,626 3,612,756 509,148 Bills discounted: Secured by U.S.Gov't obligations, direct or fully guaranteed 11,699 851 2,281 4,633 4,422 110 Other bills discounted 739 395 Cleve. Rich. Atlanta Chicago St.Louis Minfi. Kans.Cy. Dallas San Fran, 674,681 305,824 229,340 1,762,174 284,111 189,282 268,420 185,946 682,979 806 761 453 554 722 245 1,197 853 1,567 20,649 18,001 11,699 34,259 12,244 7,504 21,844 11,484 28,539 696,052 324,678 242,606 1,797,194 297,161 197,239 290,818 197,675 712,715 817 233 415 234 1,471 l,44l 125 79 312 13 35 249 297 797 172 127 290 5 1,050 269 762 649 110 1,775 2,912 99 127 204 353 750 325 78 237 284 54 642 1,094 80 464 299 80 968 295 200 1,524 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities* Bonds Treasury notes Treasury bills 751,539 54,751 1,154,997 84,144 657,479 47,899 216,814 63,561 333,211 97,685 189,679 55,607 73,157 39,394 32,899 112,432 60,540 50,559 64,002 34,462 28,780 82,655 127,026 72,310 Total U.S.Govt, securities 2,564,015 186,794 739,704 216,853 249,591 134,396 112,238 281,991 112,483 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets 2,601,341 190,833 181 13 466 21,629 681,498 63,173 45,251 3,006 36,956 2,109 750,319 223,841 18 71 906 4,i44 166,892 57,611 4,836 9,969 10,833 4,490 251,672 136,930 115,376 16 6 8 1,827 1,172 2,204 61,668 56,392 26,815 2,700 2,195 6,215 3,936 2,220 1,359 283,298 113,123 83,989 126,901 101,078 223,981 21 2 5 5 13 3 6o4 2,289 2,948 2,242 1,195 1,632 92,460 31,765 20,589 35,081 28,878 40,174 4,601 2,345 1,522 3,159 1,357 3,346 1,330 1,299 1,565 1,338 3,212 3,265 TOTAL ASSETS 16,121 2,825 18,380 961 205 2,873 5,028 1,004 4,583 3,020 293 3,675 32,969 24,332 36,717 29,231 65,059 50,670 37,392 56,426 44,926 99,986 28,844 21,285 32,130 25,574 56,917 83,009 125,263 99,731 221,962 12,800,524 795,226 4,554,984 800,850 1,021,386 524,100 390,561 2,183,787 447,969 305,835 459,161 330,935 985,730 Fona FR-2S3-C ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON DEC&SBER 22, 1937 (in thousands of dollars) L I ABILITIES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mirm. Kans.Cy. Dallas San Fran. F.R. notes in actual circulation 4,346,383 290,003 966,056 325,720 Depositsi 6,854,904 396,400 2,986,485 357,849 Member bank - reserve account 152,593 5,577 19,997 7,424 U.S.Treasurer — General account 188,837 13,780 68,213 18,500 Foreign bank 280,868 4,118 238,164 1,949 Other deposits 449,083 216,809 171,739 18,901 13,859 9,017 17,367 8,117 6,607 3,030 2,973 1,967 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 488,381 241,758 189,330 1,055,867 221,832 137,737 246,333 201,701 575,807 80,680 30,995 18,607 32,511 28,756 36,145 56,051 49,438 21,596 12,907 3,867 2,893 4,083 3,877 10,046 12,959 4,888 4,402 21,504 4,655 3,116 14,323 4,869 5,616 3,613 3,851 9,645 754 l,4l6 1,007 3,422 545 1,003 1,142 1,262 2,121 7,666 1,174 2,013 3,121 1,497 1,714 941 1,847 2,013 409 372 1,613 887 365 454 345 339 779 TOTAL LIABILITIES 7,477,202 419,875 3,312,859 385,722 625,146 61,069 154,006 55,292 132,619 9,383 51,056 12,258 145,854 9,826 51,474 13,362 27,615 2,874 7,744 4,325 35,673 1,570 9,117 3,000 10,032 2,672 1,171 626 444,657 217,856 166,740 1,002,134 184,536 140,012 170,193 89,302 349,174 998,856 203,250 123,621 234,679 185,457 530,676 33,887 7,060 6,682 5,832 8,187 16,170 21,897 5,663 4,342 5,474 5,474 13,403 1,227 5,859 3,092 348 2,583 15,558 12,800,524 795,226 4,554,984 800,850 1,021,386 524,100 390,561 2,183,787 447,969 305,835 459,161 330,935 985,730 Contingent liability on bills purchased for foreign correspondents 1,680 Comitcients to nake industrial advances 12,841 123 606 165 154 72 59 195 50 39 49 49 119 1,722 4,598 143 761 l,64o 350 10 176 51 112 269 3,009 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. S. Government securities 16,121 2,825 18,380 2,564,015 Within 15 days 16 to 30 4ays 31 to 60 days 61 to 90 days 13,061 914 972 268 1,288 584 66,471 471 240,424 1,269 1,305 26,333 271 27,720 426 6 months 91 days to 6 nonths to 1 Year 707 41 1,504 389,907 3,492 235,326 1 Year to 2 Years 5,462 283,389 2 Years to 5 Years Over 5 Years 5,291 593,739 700,706 Form FR-283-d FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 22, 1937 (in thousands of dollars) Total Boston New York Federal Reserve notes J Issued to F.R.bank by F.R.agent Held by Federal Reserve bank Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 4,709,922 336,759 1,094,666 343,982 363,539 46,756 128,610 18,262 468,191 231,676 184,907 1,037,197 197,600 144,765 181,260 97,912 391,007 23,534 13,820 18,167 35,063 13,064 4,753 11,067 8,610 41,833 4,346,383 290,003 966,056 325,720 444,657 217,856 166,740 1,002,134 184,536 140,012 170,19> 89,302 349,174 4,730,632 341,000 1,100,000 347,000 15,118 894 4,997 2,581 20,000 471,500 232,000 166,000 1,040,000 200,632 147,000 182,000 99,500 4)4,000 325 188 1,065 299 295 945 649 2,676 204 20,000 -- 4,765,750 341,894 1,104,997 349,581 472,445 232,649 188,676 1,040,204 200,957 147,188 183,065 99,799 404,295 In actual circulation 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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