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Form Ffr~283 STATEMENT FOR THE PRESS Released for publication Friday morning, Dec. 31; not earlier. Board of Governors of the Federal Reserve System December 30, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended December 29 member bank reserve balances increased $128,000,000. Additions to member bank reserves arose from an increase of #4,000,000 in Treasury currency and decreases of #110,000,000 in money in circulation, #13,000,000 in Treasury deposits with Federal Reserve banks and #57,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of #56,000,000 in Reserve bank credit. Excess reserves of member banks on December 29 were estimated to be approximately #1,160,000,000, an increase of #150,000,000 for the week. Inactive gold included in the gold stock and Treasury cash amounted to #1,228,000,000 on December 29, a decrease of #5,000,000 for the week. Changes in member bank reserve balances and related items during the week and the year ended December 29, 1937, were as follows? Increase or decrease since Dec. 29 1937 Dec. 22 1937 Dec. 30 1936 (In millions of dollars) Bills discounted 13 Bills bought 3 2,564 U. S. Government securities Industrial advances (not including 13 million commitments - December 29) 18 Other Reserve bank credit 4 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 -3 +8 — — .— +134 -53 -7 -17 2,602 12,760 2,634 -56 -5 +4 +118 +1,509 +104 6,983 6,571 3,620 140 682 +128 -110 -5 -13 -57 +411 +21 +1,252 -91 +138 Form FR-283~a Released for publication Friday morning, Dec. 31, 1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Dec. 29. 1937 Dec. 22, 1937 Dec. 30. 1936 ASSETS 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 9,120*391 9,913 330,544 9,460,848 9,120,390 9,912 283.366 9,4-13,668 8,851,878 12,7-41 247.672 9,112,291 9,340 3,507 12,847 11,699 4,422. 16,121 4-,521 856 5,377 2,827 18,291 2,825 18,380 3,089 24,768 751,539 1,154,997 657,479 751,539 1,154,997 657,479 490,643 1,340,963 598,621 2,564,015 2,564,015 2,430,227 2,597,980 179 25,740 685,237 45,235 37,802 2,601,341 181 21,629 681,498 45,251 36,956 2,463,461 220 29,225 760,266 48,082 41,253 12,853,021 12,800,524 12,454,798 . 4,283,385 4,346,383 4,278,786 . . 6,982,752 139,604 172,634 239,983 6,854,904 152,593 188,837 280,868 6,571,721 230,829 94,016 179,918 7,534,973 681,839 132,737 145,854 27,615 35,673 10,945 7,477,202 625,146 132,619 145,854 27,615 35,673 10,032 7,076,434 739,938 130,833 145,5031 27,088 34,251 21I917 12,853,021 12,800,524 12,454,798 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 . . . 111 other assets . . . TOTAL ASSETS 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 80.1$ 79.6$ 1,696 1,680 12,780 12,841 80.2$ 20,959 Form FR-283~a ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BAMS ON DECEMBER 29, 1937 (in thousands of dollars) ASSETS Total Boston New York Phila. Gold certificates on hand and due from U. S. Treasury 9,120,391 509,298 3,556,816 490,479 Redemption fund - F. R. notes 9,913 850 1,318 586 Other cash 330,544 32,285 80,254 23,320 Total reserves 9,460,848 542,433 3,638,388 514,385 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 9,340 696 3,596 1,886 Other bills discounted 3,507 150 258 673 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 676,706 297,524 230,093 1,758,076 284,300 185,417 267,800 184,191 679,691 722 853 1,568 761 806 453 554 245 1,197 25,151 21,599 15,207 40,601 13,905 8,811 23,872 12,868 32,671 702,579 319,976 246,868 1,799,438 299,011 194,681 292,226 197,304 713,559 678 231 385 263 521 719 150 82 734 1 179 352 900 57 4l 285 10 909 269 762 648 110 1,773 1,240 99 128 232 353 705 735 78 237 179 54 638 1,252 80 464 98 80 966 295 200 1,524 Total bills discounted 846 12,847 .lis bought in open market 2,827 205 ldustrial advances 18,291 2,872 U. S.. Government securities t Sonds 751,539 54,751 treasury notes 1,154,997 84,144 657,479 47,899 treasury bills 216,814 63,561 333,211 97,685 189,679 55,607 73,^-57 39,394 32,899 112,432 60,540 50,559 64,002 34,462 28,780 82,655 32,969 24,332 36,717 29,231 65,059 127,026 50,670 37,392 56,426 44,926 99,986 72,310 28,844 21,285 32,120 25,574 56,917 Total U.S.Govt, securities 2,564,015 186,794 739,704 216,853 249,591 134,396 112,238 281,991112,483 83,009 125,263 99,731221,962 Total bills and securities 2,597,980 190,717 749,l4l 223,350 251,531 136,927 113,705 283,281 113,533 83,880 127,059 100,875 223,981 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets TOTAL ASSETS 179 13 25,740 4ll 685,237 7L,4l4 45,235 3,001 37,802 2,129 3,854 1,006 4,577 2,559 293 3,645 69 18 4,546 1,281 177,089 58,904 9,969 4,826 11,169 4,607 16 8 1,401 2,316 69,939 52,4l6 6,215 2,700 4,022 2,294 6 3,107 23,490 2,195 1,390 21 3 2 5 5 13 4,219 1,768 1,820 1,135 785 2,951 90,043 29,433 18,022 32,281 26,307 35,899 4,601 2,344 1,522 3,159 1,357 3,346 3,332 1,347 1,310 1,600 1,336 3,266 12,853,021 810,118 4,590,371 807,371 1,035,703 516,637 390,761 2,184,935 447,439 301,237 457,465 327,969 983,015 Form FR-283~a ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON DECEMBER 29, 1937 (in thousands of dollars) L I A B I L I T I E S Total Boston New York Phila. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation A,283,385 285,832 953,606 320,375 Deposits t 6,982,752 406,079 3,041,232 373,430 Member bank - reserve account 139,604 5,712 4-2,021 2,390 U.S.Treasurer - General account Foreign bank 172,634 12,587 62,4-53 16,898 Other deposits 239,983 4,070 2,259 197,449 436,919 211,833 162,016 994,662 182,765 137,965 168,424 87,039 341,949 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 497,326 238,156 192,826 1,054,662 222,034 135,858 2.46,961 199,083 581,487 69,024 51,564 23,002 90,449 32.007 17,928 31,926 30,623 34,907 13,036 4,896 4,400 12,920 3,868 2,893 4,084 3,891 10,046 3,613 3,851 9,645 21,504 4,655 3,116 14,323 4,869 5,616 1,142 1,262 2,121 754 1,416 545 1,003 1,007 3,422 94l 1,847 2,013 7,666 1,174 2,013 3,121 1,497 1,715 461 374 847 432 1,656 391 373 400 947 TOTAL LIABILITIES 7,534,973 428,448 3,343,155 394,977 681,839 71,454 171,116 57,839 132,737 9,386 51,059 12,258 145,854 9,826 51,474 13,362 27,615 2,874 7,744 4,325 35,673 1,570 9,117 2,999 10,945 728 3,100 1,236 Cleve. 465,906 219,012 178,060 1,006,555 204,582 124,778 234,934 187,987 540,197 12,601 8,729 6,234 26,744 7,067 4,156 6,685 3,351 13,914 15,863 7,415 6,035 20,002 5,373 3,966 5,000 5,000 12,242 2,956 3,000 2,497 1,361 5,212 2,958 342 2,745 15,134 12,853,021 810,118 4,590,371 807,371 1,035,703 516,637 390,761 2,184,935 447,439 301,237 457,465 327,969 983,015 Contingent liability on bills purchased for foreign correspondents 1,696 Commitments to make Industrial advances 12,780 123 623 165 154 72 59 1,706 4,555 173 753 1,634 345 195 50 38 49 49 119 176 51 111 269 3 >007 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Total Bills discounted Bills bought Industrial advances U. Government securities 12,847 2,827 18,291 2,564,015 Within 15 days 10 ,£97 1,334 24,385 16 to 30 days 31 to 60 days 395 438 302 33,296 582 400 577 68,350 6l to 90 days 4l4 1,989 438 265,085 91 days to 6 months 6 months to 1 Year 728 31 1,431 381,170 3,490 213,895 1 Year to 2 Years 5,502 283,389 2 Years to 5 Years 5,217 593,739 Over 5 Years 700,706 Form FR-283~a FEDERAL RESERVE NOTE STATEMENT ON DECEMBER 29, 1937 (in thousands of dollars) Total Boston New York Phila. Federal Reserve notes J Issued to F.R.bank by F.R.agent 4,683,094 328,956 1,091,838 341,969 Held by Federal Reserve bank 399,709 43,124 138,232 21,594 In actual circulation 4,283,385 285,832 953,606 320,375 Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. 467,997 227,487 184,486 1,030,395 197,474 143,595 179,153 31,078 15,654 22,470 35,733 14,709 5,630 10,729 436,919 211,833 162,016 97,489 392,255 10,450 50,306 994,662 3.82,765 137,965 168,424 87,039 341,949 Collateral held by agent as security for notes issued to banki Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral 4,735,132 341,000 1,100,000 347,000 11,950 784 3,812 2,161 25,000 471,500 228,000 166,000 1,055,000 200,632 l40,500 182,000 804 648 1,046 232 735 102 1,233 20,000 5.000 99,500 404,000 98 295 - - 4,772,082 341,784 1,103,812 349,161 472,304 228,648 187,046 1,055,232 201,367 145,602 183,233 99,598 4o4,295
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