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Form FR— 283 STATEMENT FOR THE PRESS for publication Friday Horning, Dec. 8 ; not earlier. Released Board of Governors of the Federal Reserve System December 7, 1939 CONDITION OF THE FEDERAL RESERVE 3A”KS During the week ended December 6 member bank reserve balances decreased 13,000,000« Reductions in member bcnk renerves arose from increases of $83,000,000 in money in circulation, $32,000,000 in Treasury cash, and $9,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $37,000,000 in Reserve bank credit, offset in part by a decrease of $95,000,000 in Treasury deposits with Federal Reserve banks and increases of $61,000,000 in gold stock and $2,000,000 in Treasury currency. Excess reserves of member banks on December 6 were estimated to be approximately $5,150,000,000, an increase of $10 ,000,000 for the v;ee];. The principal change in holdings of. bills and securities was a decrease of $40,000,000 in United States Government securities, direct and guaranteed; holdings of bills decreased $35 ,000,000 and of bonds $5 ,000,000. Changes in member bank reserve bal-aices and related items during the week and the year ended December 6 , 1939, were as follows: Increase or decrease since Dec. 6 , ■1939 I<ov. 29, 1939 Dec. 7. 1938 ' (in millions of do3.ltirs) Bills discounted Bills bought U. S. Gov*t securities,direct and guaranteed Industrial advances (not including 9 million commitments - December 6) Other Reserve bank credit ,8 — 2,512 11 36 — - 40 + - 52 + 4 31 — + 2 2 1 Total Reserve bank credit Gold stock Treasury currency 2,568 17,408 2,949 - 37 + 61 + 2 23 +3,041 + 174 Member banii reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Ijonnember deposits and other F. R. accounts 11,6.17 7,545 2,391 346 + + + + 2,651 + 701 - 290 61 + 192 1,026 3 83 32 95 9 Form FR- 283-a Released for publication Friday morning, Dec. 8,1939? not earlier. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Increase or decrease since Dec. 6, Nov. 29, Dec. 7, 1939 1939 1938 A S S E T S Gold certificates on hand and + 32,194 +3,336,594 due from U. S. Treasury 14,998,315 — i4l 9,866 Redemption fund - F. R. notes 54,996 Other cash - 30,019 290,747 Total reserves Bills discounted» Secured by U, S. Gov't obligations, direct and guaranteed Other bills discounted Total bills discounted Bills bought in open market Industrial advances U. S. Government securities, direct and guaranteed» Bonds Notes Bills Total U. S. Government securities, direct and guaranteed 15,298,928 Total bills and securities Due from foreign banks F. R. notes of other banks Uncollected items Bank premises Other assets T O T A L A S S E T S +3,281,457 + 160 210 + 1,99S 4,031 50 + 2,033 + — 547 4,098 6 1,278,947 1,233,225 - 4,500 — Z-3-5,425 + + - 612,123 2,512,172 - 39,925 - 51,843 2,531,635 47 21,614 656,498 41,975 71,965 18,622,662 - 39,881 — + 886 - 21,545 41 + 495 - 54,455 127 41 35,719 2,142 20,229 - 57,911 +3,230,722 4,899,500 + 54,208 + + - 3,232 94,758 8,830 18,059 88,761 24,126 +2,650,249 61,186 + 187,726 + 20.899 +2,797,683 + 4,465 6.124 ±„.....-144 18,273,376 - 56,535 + 731 +3,279,935 135,251 149,152 27,264 27,612 18,622,662 + 11,616,517 346,191 398,444 386,416 12,747,568 620,184 — 9,492 + 68,660 477,051 + 308 - 57,911 1,202 1,413 419 1*409 +3,280,722. + ----- 316 .2% — + + cn 86,7% + + 491,620 1—•1 2,175 + L I A B I L I T I E S F. R. notes in actual circulation Deposits: Hember bank - reserve account U. S. Treasurer - General account Foreign bank Other deposits Total deposits Deferred availability items Other liabilities including accrued dividends T O T A L L I A B I L I T I E S C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 1,657 6,419 8,076 — 11,387 + 76 151 5,655 Form FR— 283—b STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS Oil DECEMBER 6 , 1939 (In thousands of dollars) A S S E T S Total Gold certificates on hand and due from U.S.Treasury 14,998,315 Redemption fund — F.R. notes 9,866 Other cash 290,747 Total reserves 1 Bills discounted» Secured by U. S. Gov’ t obligations, direct and guaranteed 1,657 Other bills discounted 6,419 Boston New York 845,576 7,021,215 976 1,014 74,806 26,060 r • .... . 1 — 872,650 7,096,997 Phila. Cleve, Rich. Atlanta Chicago St.Louis Llinn. Kans.Cy. Dallas San Fran. 820,542 1,234 '24,432 960,046 401,095 279,2.89 2,549,208 422.477 252,772 358,143 230,704 80'2 233 767 381 841 800 939 504 8,587 18,799 18,166 16,326 2,829 16,096 39,591 13,667 857,248 1,375 846,208 979,784 420,102 296,415 2,589,566 436,946 261,592 361,476 247,181 890,011 31,388 210 70 179 — 1,073 4 140 25 348 275 7 249 757 1,073 671 752 499 144 508 373 915 66,134- 51,585 63,769 49,742 1/(0,500 135,473 43,296 41,748 34,64-1 57,572 46,264 33,403 55,512 44,611 105,033 101,279 80 125 755 2,14-9 190 488 188 548 84243 70 290 126 626 205 2,904 678 736 315 327 984 360 65 Total bills discounted 8,076 Industrial advances 11,387 U. S. Government securities, direct and guaranteed» Bonds 1,278,947 Notes 1,233,225 l,4l4 2,026 3,108 92,820 89,501 398,139 383,906 105,636 109,553 133,410 128,640 Total U. S. Gov*t securities. direct and guaranteed 2,512,172 182,321 782,045 215,189 262,050 129,903 101,327 275,978 85,044 68,044 113,084 90,875 206,312 183,940 786,975 18 3,349 159,791 C, 867 22,534 218,975 263,101 131,214 102,358 277,229 85 j326 69,050 114,34(0 * 1 6 1 1,748 928 2,161 2,334 87,235 28,472, 18,575 29,079 3,862 O 'J/O 1,4-98 3,106 9 "p£p, 1,965 3,022 7,264 91,527 1 653 23,650 1,259 2,479 207,600 4 3,479 32,542 3,189 6,071 Total bills and securities Due from foreign banks F. R.notes of other banks Uncollected items Bank precises Other assets TOTAL ASSETS 2.531,635 47 21,6l4 656,498 41,975 71,965 3 736 66,864 2,894 4,696 5 848 49,034 4,583 6,604 2 4 1,814 1,719 74,025 58,285 5,881 2 S551 7,909 4,123 2 1,845 28,946 2,037 3,038 183 18,622,662 1,131,783 8,078,531 1,126,257 1,332,423 618,091 434,641 2,967,496 557,414 353,608 512,772 366,750 1,142,896 *Less than $500« Form FR— 283—c STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON DECEMBER 6 , 1939 (In thousands of dollars) L I A B I L I T I E S Total Boston New York F. R. notes in actual cir culation 4,899,500 ■409,483 1,239,879 Deposits : Member bank—reserve account Hy6lo,5l7 546,893 6,098,109 U.S.Treasurer-General account 346,191 60,648 37,325 Foreign bank 398,444 28,635 142,624 Other deposits 386,4l6 271,278 20,951 Total deposits 12,747,568 Deferred availability items 620,184 Other liabilities including accrued dividends 6,124 633,804 6,572,659 63,970 142,872 406 2,456 Phila, Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy,, Dallas San Fran, 345,177 453,846 231,854 161,090 1 ,069,356 190,638 141,001 183,255 83,929 389,992 594,642 55,702 38,579 12,405 658,850 282,468 203,188 1,687,190 2,83,737 157,227 266,164 214,087 64,783 10,747 10,578 20,938 2.3,539 14,109 12,670 15,140 36,988 17,102 13,920 48,124 11,534 9,142 11,534 11,534 6,102 15,283 8,537 8,382 7,12.6 3,773 1,325 6,573 623,962 20,012. 28,722 2.4,681 701,328 46,116 775,904 314,090 233,788 1,764,789 327,192 187,057 291,693 2.47,887 88,237 28,725 16,225 27,4-37 23,647 69,132 56,955 26,752 697,377 960 489 154 213 493 188 151 194 139 30,116 281 TOTAL LIABILITIES 18,273,376 1,107,663 7,957,866 1,093,581 1,299,371 603,053 421,843 2,922,875 546,743 344,434 502,579 355,602 1,117,766 C A P I T A L A O C O l ’i.; T S Capital paid in 4,566 5,142 135,251 13,320 4,040 2,927 4,308 4,051 50,951 12,115 13,823 9,383 10,625 Surplus (Section 7) 10,083 52,463 149,152 13,696 22,666 4,685 5,630 4,983 3,892. 14,323 9,965 3,153 3,613 Surplus (Section 13b) 4,4l6 -27,2.64 2,874 7,457 1,007 1,001 1,14-2 1,266 3,293 1,429 545 713 2,121 Other capital accounts 1,780 7,206 37,619 1,401 9,794 1,130 1,939 2,449 1,889 3,899 1,620 2,419 2,093 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 18,622,662 1,131,783 8,078,531 1,126,257 1,332,423 618,091 434,641 2,967,496 557,414 353,608 512,772 366,750 1,142,896 Commitments to make industrial advances 9,492 922 1,194 816 78 22 398 64 550 — 3,161 475 1,812 MATURITY DISTRIBUTION OF BILLS AND SECURITIES 31 to 6l to 91 days to 6 nonths 1 Year 2 Years to Over l6 to Within 60 days 90 days 6 months to 1 Year to 2 Years 5 Years 5 Years Total 30 days 15 days -ills discounted 153 8,076 1,710 787 255 33 5,133 Industrial advances 2,342 11,387 357 964 2,199 1,532 347 2,813 833 U. S. Governnert securities direct and guaranteed 136,783 342,221 682,887 1,188,576 2,512,172 161,705 Form FR— 283-d FEDERAL RESERVE NOTE STATEMENT OH .DECEMBER 6, 1939 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R. bank by F.R.agent 5,176,588 429,182 1,331,026 362,789 474,344 243,151 172,465 1,092,831 202,440 145,137 191,220 90,891 441,112 Held by Federal Reserve bank 277,088 19,699 91,147 17,612 20,498 11,297 11,375 23,475 11,802 4,136 7,965 6,962 51,120 In actual circulation 4,899,500 409,483 1,239,879 345,177 453,846 231,854 161,090 1,069,356 190,638 141,001 183,255 83,929 389,992 Collateral held by agent as se curity for notes issued to bank: Gold certificates on hand and due fron U. S. Treasury 5,287,000 440,000 1,355,000 370,000 476,000 245,000 177,000 1,115,000 209,000 147,500 195,000 93,500 464,000 Eligible paper 2,446 180 803 210 — 119 — — 135 126 873 — — Total collateral 5,289,446 440,180 1,355,803 370,210 476,000 245,119 177,000 1,115,000 209,135 147,626 195,873 93,500 464,000
@FedFRASER