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STATEMENT FOR THE PRESS Released for publication Friday morning, Feb. 12; not earlier. Board of Governors of tlie Federal Reserve System February 11, 1937• CONDITION OF FEDERAL RESERVE BAMKS The daily volraie of Federal Reserve bank credit outstanding during the week ended February 1Q, as reported by the Federal Reserve "banks, was $2,^85,000,000, spi increase of $2,000,000 compared with the preceding week and a decrease of $10,000,000 compared with the corresponding week in 1936 • On February 10 total Reserve bank credit amounted to $2,^77,000,000, an increase of $14,000,000 for the week. This increase corresponds with increases of $12,000,000 in money in circulation, $13,000,000 in member bank reserve balances and $22,000,000 in nonmember deposits and other Federal Reserve accounts, offset in part by a decrease of $10,000,000 in Treasury cash and deposits with Federal Reserve banks and an increase of $23,000,000 in monetary gold stock. Member bank reserve balances on February 10 were estimated to be approximately $2,120,000,000 in excess of legal requirements. Relatively small changes were reported in the System1s holdings of bills discounted, purchased bills and industrial advances. An increase of $6,000,000 in holdings of United States bonds was offset by a decrease of $6,000,000 in United States Treasury notes. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended February 10, 1937, were as follows: Increase or decrease since Feb. 10 1937 Feb. 3 1937 Feb. 12 1936 (in millions of dollars) Bills discounted Bills bought U. S. Government securities Industrial advances (not including 20 million commitments - February 10) Other Reserve bank credit TOTAL RESERVE BAKK CREDIT Monetary gold stock Treasury currency Money in circulation Member bank reserve balances Treasury cash and deposits with F.R.banks ITonmember deposits and other F. R accounts 3 , 3 -5 — 2U -g -15 IS 2,^77 11,327 2,531 +23 6,360 6.771 +12 +13 2,695 569 -2 -10 +22 -31 +1,232 +35 -+597 W -29s •-H9 (B-SOl) Released for publication Friday morning, February 12, 1937; n °t earlier. B-SOla ASSET'S AITD LIABILITIES OF THE TWELVE F2335ML RESERVE B A M S COMBIEED (in thousands of dollars) Feb. 10,1937 Feb. 3,1937 Feb. 12,193 ASSETS Gold certificates on hand and due from U. S. Treasury . . . . . . . . . Redemption fund - F. R. notes • . • . . . Other cash . . • * . . Total reserves a Bills disco-unted: Secured by U.S.Gov!t obligations,direct or fully guaranteed Other bills discounted Total bills discounted . . Bills bought in ODen market . . . Industrial advances U. S # Government securities: Bonds . . Treasury notes . . . Treasury bills Total U.S. Government securities . Other securities • Total bills and securities Due from foreign banks . . . . . F. R. notes of other banks . . . Uncollected items * . Bank premises . . . All other assets . . . . . . . . 3,848,389 12,746 2S9,04l 9,150,176 7,661,223 15,920 337.337 3,014,430 • . . m 2,l42 . . * • 44i .... 2,583 3»0S1 .... 23,582 2,359 442 2,301 3,031 23,649 5,I42 2,376 8,013 4,674 31,801 493,232 1,339,913 532,082 2,^30,227 492,132 1,345,963 . 59.2,032 2,430,227 • . . 2,459,473 • 226 22,897 562,251 46,152 . ^1,465 2,459,75s 226 24,497 534,725 46,i4o 40,369 215,681 1,626,30s 2 2,430,241 131 2,474,915646 17,653 ^64,697 47,799 39,382, 12,270,67s 12,305,391 11,159,572 4,165,83s 4,153,067 3,656,13s . 6,770,854 •132,152 102,803 .. .207,319. 7,213,128 544,854 132,239 145,S54 27,190 36,235 5,340 6,757,714 175,745 76,265 209,520 5,733,814 7,219,244 6,629,631 531,343 5,632 532,326 130,703 145,501 26,406 34,047 , ^i77,Q, 12,305,391 11,159,572 .... TOTAL ASSETS S,S48,378 12,746 277,090 9,133,214 . .. — 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 TOTAL LIABILITIES .. • . •12,270,67s . Ratio of total reserves to deposit and F. R. note liabilities combined 145,354 27,190 36,235 67,99s 296,051 • . . .so. 3$ so. 4$ 77.955 19,939 19,999 26,562 Commitments to make industrial advances . 132,321 481,Sl6 ASSETS AED LIABILITIES OF THE FEDERAL RESERVE BAUKS OH FEBRUARY 10, 1937 (In thousands of dollars) B-SOlb A S S E T S Total Boston New York Phila. Gold certificates 011 hand and due from U. S. Treasury Redemption fund - F.R.notes Other cash Total reserves Bills discounted: Secured by U.S.Gov't obligati direct or fully guaranteed Other hills discounted Cleve. 7 10 9 2,583 3,081 23,532 52 224 2,769 1,569 1,094 5,878 532 319 4,477 Total U.S.Gov't securities 493,232 1,339,913 592,082 2,430,227 36,017 96,860 42s801 175,67s 133,723 359,627 158,910 652,260 39,932 107,391 47,454 194,777 Total bills and securities 2,459,473 178,723 TOTAL ASSETS Minn. Kans.Cy. Dallas San Fran. 1,712 SS3 6i4 652 1,391 12,746 1,25s 417 733 573 2,44s 563 1,502 22,335 69,19s 277,090 32,233 16,692 3,72S 14,794 5,793 2^,761 27,39^ 21,052 20,534 13,521 9,133,2i4 532,315 3,650,155 503,767 647,510 303,324 24s,434 1,671,005 274,436 176,623 259,532 185,933 629,630 523 9 Due from foreign banks F. R. notes of other banks Uncollected items Bank premises All other assets Chicago St.Louis 5,848,373 553,672 3,579,2^5 480,956 625,725 222,717 232,465 1,633,204 256,242 167,012 244,124 179,533 603,47s 1,366 203 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities: Bonds Treasury notes Treasury bills Rich. Atlanta 2,142 44i 226 17 22,397 314 562,251 55,707 46,152 3,057 41,465 2,522 7 2 50 21 4o so 17 11 385 1,127 l 15 16 s6 359 9 60 1,036 71 87 758 to 87 1,301 97 213 i,so6 55,66s 152,399 67,343 276,410 23,793 63,986 23,275 116,054 17,-515 47,100 20,814 85,429 ~4 60 103 11 19 293 1,157 4 120 2,553 163 10s 361 51,300 137,964 60,964 250,22s 27,352 73,560 32,504 133,4I6 22,539 60,616 26,786 109,941 660, SOI 200,105 251,697 136,093 110,573 35 21 10 s 23 6,47s 699 1,020 i,64o 2,496 133,035 42,632 55,926 51,255 22,966 10,13s 4,952 6,372 2,800 2,237 10,893 5,113 4,690 2,701 1,714 25,955 19,469 43,969 69,802 52,360 118,243 30,344 23,137 52,250 126,601 94,966 214,467 277,933 n6,5l5 86,534 127,517 96,394 216,5SS 16 6 27 4 3 6 2,289 616 3,289 1,569 1,09s 1,339 73,325 33,603 12,061 31,412 22,550 27,779 ^,710 2,390 1,501 3,285 1,261 3,449 3,933 1.557 1,399 1,9^4 1,531 3,118 12,270,67s 822,655 4,471,535 762,291 967,236 493,323 388,428 2,034,222 430,374 279,219 425,085 308,391 SS2.S69 ASSETS A1ID LIABILITIES OF THE FEDERAL RESERVE B A M S OH FEBRUARY 10, 1937 (In thousands of dollars) B-SOlc L I A B I L I T I E S Total Boston JTew York Fiiila. CIeve. 879,481 306,170 F.R.notes in actual circulation U,l65,S3S 350,799 Deposits: Member bank: - reserve account 6,770,25^ 37^,721 3,132,757 362,913 U.S.Treasurer - General account 31,44s 6,562 132,152 6,325 37,243 10,055 102,203 7,490 Foreign "bank Other deposits I4O,O43 1,3^1 207,319 3,1^9 Total deposits 7,213,122 392,185 3,341,491 380,371 Deferred availability items 544, S5U 55,792 129,122 41,950 Capital paid in 9,36? 51,330 12,24O 132,239 Surplus (Section f) 51,474 13,362 145,854 9,226 Surplus (Section 13 h) 7,744 4,325 27,190 2,274 Reserve for contingencies 9,260 3,000 1,570 36,235 All other liabilities 241 5,340 1,6S3 373 TOTAL LIABILITIES Commitments to mal:e industrial advances Chicago St.Louis Minn. Elahs.Cy. Dallas San Fran, Rich. Atlanta 87,447 324,434 ; 948,021 178,006 :L33.502 1-59,595 : 417,4ss 198,042 122,853 421,921 218,200 157,678 19,655 10,231 4,235 4,4i2 3,591 9,^39 4,210 5,256 1^,367 465,442 237,053 :1.71,360 52,531 48,376 21,702 12,840 4,810 4,315 4,869 5,616 14,323 754 1,007 3,422 3,120 1,522 1,690 13s 485 229 : 931,251 195,912 :H3.352 :218,506 169,i4o 470,443 2,217 8,118 26,518 2,644 3,762 3,337 2,360 7,224 3,072 11,901 2,975 2,975 205 5,413 19,555 1,098 7,209 M 7 3 185,646 506,099 . 970,763 212,843 :124,34-7- 225,023 71,031 29,095 12,000 30,563 24,300 22,392 4,000 3,246 10,172 12,563 3,S10 2,945 21,504 9,645 3,llb 3,613 3,251 4,655 i,4i6 1,142 1,262 1,696 545 1,003 2,090 931 1,247 2,037 7,971 1,197 94s 216 21s 394 192 223 12,270,67s 222,655 4,471,535 762,291 967,236 492,323;$SS,42S 2,034,222 430,37^ 279,219 ; 425,085 308,391 882,869 19,939 1,9^2 8,2l6 224 1,193 2,262 283 10 6s 1,295 223 486 3,737 MATURITY DISTRIBUTION OF BILLS A1ID SECURITIES To tal Bills discounted Bills bought Industrial advances U.S.Government securities 2,523 3,osi 23,522 2,430,227 Within 15 days 16 to 30 days 31 to 60 days 61 to 90 days 2,335 226 937 23,033 17 235 31^ 31,959 112 4l6 1,012 51,480 2,204 434 106,597 85 91 days to 6 months 30 6 months to 1 Year 1 Year to 2 Years 4 — 1,659 244,345 3,928 397,^31 5,750 2 Years to 5 Years Over 5 Years — — — — — — — 447,95s FEDERAL RESERVE 'TOTE STATELIEST OH FEBRUARY 10, 1937 (in thousands of dollars) B-SOld Total Federal Reserve notes: Issued to F.R.bahk .by F.R.;agent Held by Federal Reserve ba: In actual circulation Boston ITew York Phila. Cleve. Rich. Atlanta Chicago St,Louis Minn. Kans.Cy. Dallas San Fran 4,427,216 379,4s4 977,721 326,623 441,320 210,359 207,262 321,37s 28,685 92,240 20,453 23,292 12,317 24,409 977,669 190,665 132,462 169,196 29 , 648 12,659 4,960 9,5.61 95,193 373,242 4, 165,23s 350,799 279,421 306,170 942,021 172,006 133,502 27,447 324,434 417,422 192,042 122,253 159,595 7,746 42,202 Collateral held by agent as security for notes issued to banh: Gold certificates on hand and due from U. S. Treasury Eligible paper U. S. Gov't securities Total collateral 4. 452,132 4o6,ooo 2,390 45 -37,000 '4,521,522 406,045 990,000 332,000 443,000 212,000 162,000 i,44o 523 10 — 160 45,000 991,440 332,523 443,010 212,000 213,160 990,000 171,632 122,000 167,000 95,500 329,000 13 7 62 37 87 22,000 15.000 5,000 330,000 193,645 143,007 172,062 35,537 389,087
@FedFRASER